OgogoroFreak:
anything anyone tell you here is guess work.

But I'll say hold on to your dollar cos there is no sign or information that exchange is about to come down. Infact, it looks more like its going to hit 550 later. It's currently selling for ₦477.

Thank you for your input

RaphaellaDD:
I get where you're coming from. My opinion: Nigeria doesn't have any plans to get better so the naira will continue to fall. However, there are certain factors that will affect the exchange rate. International flights resume on the 29th and that means that FG will resume selling FX to BDCs, this will reduce the scarcity of FX and the price on the parallel market will drop...now by how much, no one can tell. I switched a portion of my dollar fund to naira because I'm anticipating a drop from the 29th, if it does then I'll buy again and get more dollars than I sold.

Modified: please this is not investment advice of any kind biko, I can't shout

Haha! Thank you! LOL at the disclaimer... I was also thinking about the possibility of the International Flights resuming, so I decided to seek peoples opinions to see if it's in line with my thinking... my Bureau De Change guy is offering 470 today, let me change half of the money and keep it moving. Thank you!

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With the exchange rate currently at N470= $1, is today the best time to sell my dollars and get the most return on investment? Do you think the Naira would still devalue further or I should just sell them now and walk away?
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I remember a similar situation happened back in 2016(I believe) when the naira devalued to about N500 and I had some dollars with me, but I was so clueless and driven by fear that I just decided to hold on to them and watched the exchange rate fall back down to N365.
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What do you suggest this time around, how would you act? Perhaps there are some economic policies being implemented which would affect the Naira/Dollar value in the near future... please share!

PLEASE HELP!

Paypal nearly gave me a heart attack. If you go to their social media platforms and see the comments under recent posts, you will see that there is a massive outburst from customers as it seems their systems are suddenly going crazy and they are having a lot of issues like locking out a lot of people from their accounts, missing transactions, limiting accounts, not completing transactions. And they removed their phone numbers so you can't even get a hold of a human rep. A mess basically, especially at this time that a lot of people depend on them to eat. Literally.....
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Lucky me, my account apparently got limited before money was sent in to it so I am amongst the lucky people who does not have their money stuck in there for an indefinite period of time while they verify my identity (it could take up to 6 months to access YOUR OWN MONEY if it happens to get stuck there)....
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Now I need help getting the money into my GTBank Dollar account. I was sent this form to fill but I have been unable to get a hold of a GTbank agent on phone or online, if you have any experience could you help me out with what info i put in each box?

1. Beneficiary name: That's my full name as it appears on my Gtbank accounts

2.Beneficiary account number: That's my GTbank DOLLAR bank account number (the account itself, not the card account number, correct?)

3.Beneficiary address: That's MY address as it appears in my Gtbank accounts, right?

4.Beneficiary bank name: What do I write here? Guarantee Trust Bank (GTBank) or GTB or both? Please help!

5.Bank address: That should be my banks branch address (as in the one where I opened my account, right?)

6. Swift Code: GTBINGLA is that correct? is it the general swift code for all gtbanks in Nigeria? My bank is in Abuja

7. Opening branch name and number..... What do I write here please? Guarantee Trust Bank and my branches phone number? or is it another type of number being referred to? help me please

8. Account Country: Nigeria

9. Account currency: Dollar

10: Any extra information I should add?



I would greatly appreciate all the help I can get. Thank you


Also, Once this money gets to my account, can I withdraw it from the ATM with my Dollar card? Can I withdraw 20,000 at a time( to reduce the impact of the $3.50 charge per withdrawal GTbank wrote on their website)? Thank you for any information

PLEASE HELP!

Paypal nearly gave me a heart attack. If you go to their social media platforms and see the comments under recent posts, you will see that there is a massive outburst from customers as it seems their systems are suddenly going crazy and they are having a lot of issues like locking out a lot of people from their accounts, missing transactions, limiting accounts, not completing transactions. And they removed their phone numbers so you can't even get a hold of a human rep. A mess basically, especially at this time that a lot of people depend on them to eat. Literally.....
.
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Lucky me, my account apparently got limited before money was sent in to it so I am amongst the lucky people who does not have their money stuck in there for an indefinite period of time while they verify my identity (it could take up to 6 months to access YOUR OWN MONEY if it happens to get stuck there)....
.
.
Now I need help getting the money into my GTBank Dollar account. I was sent this form to fill but I have been unable to get a hold of a GTbank agent on phone or online, if you have any experience could you help me out with what info i put in each box?

1. Beneficiary name: That's my full name as it appears on my Gtbank accounts

2.Beneficiary account number: That's my GTbank DOLLAR bank account number (the account itself, not the card account number, correct?)

3.Beneficiary address: That's MY address as it appears in my Gtbank accounts, right?

4.Beneficiary bank name: What do I write here? Guarantee Trust Bank (GTBank) or GTB or both? Please help!

5.Bank address: That should be my banks branch address (as in the one where I opened my account, right?)

6. Swift Code: GTBINGLA is that correct? is it the general swift code for all gtbanks in Nigeria? My bank is in Abuja

7. Opening branch name and number..... What do I write here please? Guarantee Trust Bank and my branches phone number? or is it another type of number being referred to? help me please

8. Account Country: Nigeria

9. Account currency: Dollar

10: Any extra information I should add?



I would greatly appreciate all the help I can get. Thank you


Also, Once this money gets to my account, can I withdraw it from the ATM with my Dollar card? Can I withdraw 20,000 at a time( to reduce the impact of the $3.50 charge per withdrawal GTbank wrote on their website)? Thank you for any information

ezra01:


please help a brother I will love to learn... please I m not employed I need a hustle.
please help me

There is nothing to 'learn' really. Identify your skills, stuff you can do... go online and search far and wide for people that need such skills. Contact them, if you get a response follow up with whatever tests they need to conduct to verify you possess the skills you claim you possess. If you pass, you are hired. It's just like applying to any physical job, only difference is your meeting point is online. Good luck

Also, these agric startups with promises of astronomical returns (20%-30% in 6 months).... Which do you know of that are legitimate and running ALREADY and have paid these dividends ALREADY? I KNOW that agriculture and food is a sure banker but which company can be trusted? Because I am yet to understand how I am protected in the event something goes wrong along the way... who will refund me lol? I have also witnessed so many mechanized farms fold up, any leads?

deleson:
What platforms do you work on?

If it’s Fiverr or Upwork, you can open a Payoneer account, then link it to a USD domiciliary account from any Nigerian bank.

So, the flow would be Fiverr > Payoneer > Dom Account.

Several other platforms aside Fiverr and Upwork allow Payoneer payment transfer.

I'm aware of payoneer but it's non of these platforms, It's a private Taiwanese company and their only mode of payment is paypal for foreigners

emmanuelewumi:


What is the nature of your job? I asked the question, based on your suggestion about mama put. N35,000 every month should be able to give you N420,000 at the end of the year.

What is the interest on fixed deposit?

Customer service rep for a private Taiwanese company that requires fluency in Russian and English, to communicate with customers and their colleagues in other countries

Nigsrdumb:


I had the same issue, I also tried to use TransferWise but they don't allow dollar transactions.


How I solved the issue was simply opening a Dom açcount in Nigeria.. then I used my Dom bank details to send money from my online for instance your Russian account that PayPal pays into.

It's very cheap especially if it's dollar to dollar.

I'm not sure you understood my previous comment.

OMG, I never knew it was possible to do that through my Russian online banking platform!!!!... It was usually required for you to physically come to the bank and manually fill a form to do International transfers... I just logged in to my online banking portal now and meticulously studied all the options.... and just saw INTERNATIONAL MONEY TRANSFER!!!.... I can't wait to try this!!!! I don't know what their commission fees will be like but I know it cannot be higher than what I am paying now!!! Thank you for this insight!!! Nairaland is a GEM!!!!!!

4601CE:

You can get a UBA Africard. And withdraw your money from PayPal to it.
It’s a prepaid card

Really I will try that and see If it works. Thanks

Nigsrdumb:


Most western banks can transfer funds internationally using swift, only caveat is that they can't transfer naira to Nigerian banks, so your best option is to open a domiciliary dollar açcount in Nigeria, which will allow you to receive funds with little charges.

I pay about 0.50 cents regardless of how much I send.

That's the issue, I receive payment from a Taiwanese company and for foreign transfers, they only have paypal as a payment option (no direct bank transfer)... luckily, I have citizenship in another country and have a paypal account tied to my foreign back account... So after I transfer my earnings from paypal to my foreign account, I now transfer from my foreign account to my Nigerian account using Transferwise (I end up making 3 currency conversions which chops into the money heavily as Transferwise does not permit receiving money in dollars in Nigeria).. If you know a cheaper way to get money from your foreign account into your Nigerian account please let me know

I currently earn money online in dollars and have it transferred to my naira account but i lose about 20% in transfer fees and I want to diversify my income streams and have non-virtual, tangible sources of income right before me, incase our lovely Government wakes up tomorrow and decides to pass some bill restricting internet access or banning inflow from foreign transfer in to your account (LOL, paranoid but you can't blame me....).... I am also trying to build a virtual product to earn royalties on (ebook, info products).... now something evergreen and tied to daily human needs.... any insight greatly appreciated

I just want to say thank you for the wealth of information that everyone has contributed here...I am able to have a spare N35,000 every month (after covering bills and adding to savings) and would like suggestions on how to keep investing this little but consistent figure monthly.... perhaps a mama put joint? anyone have first hand experience running this? how do you deal with 'force men' (Tax force are brutal in Abuja)... anyway to compound this money? I am looking at not touching any 'profit' from this investment for 3-5 years just to make it grow... it might be a little 'off topic' but I strongly believe the active crowd on this particular thread can offer a more balanced perspective...or should I go for a continuous fixed deposit (if that is possible) and just keep the value of the money from depreciating (just maintaining it's purchasing power without becoming stronger)....any information and insight is greatly appreciated...

I am able to have a spare N35,000 every month and would like suggestions on how best to invest this recurring figure so it isn't just sitting in the bank and being deducted or losing value due to inflation by sitting in my closet... any/all suggestions are highly welcome. 'Passive' investments are preferred. Not looking for 'quick cash', this is money I wish to keep investing without expecting to touch the returns for many years... at least 5 years...Thank you and be blessed

p.s
I am hoping to increase my monthly investment amount to N50,000 in 3 months and keep increasing it at that rate

UPDATE:

The experiment worked! I sent my Paypal funds to my Russian account. I then decided to try TransferWise and only sent $20 dollars (as a test, online reviews were frightening me ).... It took TransferWise 9 days to send it to my GTb account today! (TransferWise asked for a recent PDF copy of my Russian bank account transaction history and my passport). Hurrraayyyy

What constitutes a questionable credential if I may ask? Also from the reviews I've been reading, within the last few months transferwise seems to have had a change in management and people who have been using them for multiple transactions over the years have come out in droves with almost identical complaints of transferwise suddenly withholding their money, requesting for documents which they had already provided earlier and deactivating accounts with no explanation (while still in possession of their money). That's why I'm very skeptical of trusting them at this point as it seems it's just a matter of time before your transaction runs into trouble.

Even if the money eventually reaches my account, I wouldn't be comfortable using them now. You can check out what I mean here:

https://www.consumeraffairs.com/finance/transferwise.html?page=3

I have a bank account in Russia and I also have full access to it's online platform/app. I also have my valid dollar, euro and Rouble cards. I have tried sending $20 dollars through TransferWise as a test and this is day 5, I am yet to get my money here in my GTBank account (online reviews about them are very discouraging but decided to test them and see for myself).

I live in Nigeria and travel maybe once a year or every 2 years to Russia so need a reliable way of accessing my money here.

Are there other online companies that offer such services but are more reliable? Could this work with western union online as well? Any info would be greatly appreciated.

Basically, I want to be able to log into my Russian account, send money to a trusted intermediary company and have them credit my Nigerian bank account. I have proof of Dual citizenship, active Russian phone line and proof of address if anyone should ask for such documents. What are my options? Thank you!

Hey guys... I was wondering how to deal with the issue of TAX in the event FIRS begins to clamp down on individual accounts earning money online, what do we do? How do we calculate what we should be paying? Does it really work that way and can tax be negotiated? Perhaps we could remit our earning to our business accounts and deal with tax from there... I realize all this eats into earnings badly... how to deal with this? How about EFCC?

I'm trying to imagine possible scenarios and be prepared before these things happen to avoid loss of valuable time and income... has anyone earning money from foreign online platforms had any issues with FIRS or EFCC yet? What is the best way to deal with this? Perhaps someone you know has had such an experience? I look forward to ANY information. Thank you

webshopNG:

1. Accessing your russian paypal with Nigerian IP is not advisable. They wont block it but one day you might have to login with another device in Nigeria. That is when you will get the device error issue, they will send code to the phone no attached to it. Now if you can receive the code. You are safe. The same message will pop up again, when you are carrying out a large transaction and thats how it will keep doing periodic checks till their system finds a reason to limit your paypal and requests more documents.

My advice about the above is to buy a russian vps and host your paypal account here, that way you would be accessing the account as a russian with a single device and single ip address.


2, For withdrwals

Thank you for this. I am already looking for a Russian vps to purchase... I am all ears to your suggestion on withdrawals. Once again, thank you

Thank you very much. I appreciate your input! Let's see how it goes...

-I have dual citizenship (Nigeria+Russia)
-I opened a Russian paypal account linked to my Russian bank account when I was in Russia (earlier this year)
-I am in Nigeria now and live here most of the time
-I have an active Russian phone line which I religiously keep alive which I used in opening my Russian bank account and Russian paypal
-I am in Nigeria now and live here most of the time

Questions

-I have heard paypal blocks your account if you access it from a different country IP than the one it was opened in.... I have logged in to my Russian paypal (Same laptop and browser I used when opening it in Russia) 3 times since June until yesterday and so far so good(no transactions yet)....I am expecting some money to be sent from reputable companies to my paypal... If they block it, can it still be accessed by someone in Russia if I send them my details and ask to log into my account? I have the Russian phone number active here in case paypal sends a text or calls...

-Now assuming the paypal issue is non existent and I withdraw my earning to my Russian bank account, Could I then log in to my Russian bank accounts app and send the money to maybe transferwise.com and have them remit the money to my GTBank account here in Nigeria?

Theoretically it sounds doable, and I am still going to go ahead with the experiment, just want to see if someone has had such an experience and how they went about it. I look forward to any input.

Thank you!

Wow! Thanks everyone for the responses, I have completed the form and submitted. The sejda website is bomb! Completed it in 5 mins.

Another update on squadhelp from this morning, I got $16 from another contest I participated in about 2-3 months ago as well... It was still a $100 contest and the contest holder rated my submission and 5 others' under the 'love it' category... apparently the person never selected 1 winner out of the 6 (me + 5 others) so the money was split equally among us. What a wawu

Based on this too (and quite a few 'like' it ratings) I got promoted to Tier A creative, meaning I have access to higher paid contests. Na wah...



My little advice for generating brandable names? You MUST listen to what the person wants, the name must have a deeper meaning or be clever...Also, you must have knowledge about the industry of the contest.... And you MUST 'sweet talk' the person into liking the name again, based on your knowledge of the industry (Marketing psychology). There were contests for a spare part created in the aeronautics industry which would cut down flying time of some sort aircrafts by 30% or something, so they needed a name for the spare part and had conditions like the name should sound serious, not start with letter A, not have the word 'aero' in it.... OMO I respected myself and looked for another contest



Someone asked for a name for a new brand of packed snacks they are launching in chain supermarkets in America soon... They wanted it to reflect quick, portable, yummy and fun... the winning name was munchables.com (do you see the 'clever' play on words?)... You have to use synonyms, antonyms and rhymes (for examples 'snacks' are related to 'food', 'eating'.... google the synonyms of these words and 'munch' would appear). If it were a Nigerian brand chopables.com or wackables.ng would have been good

This is similar to how musicians (or ghostwriters) write music... You must be in a state of 'creative flow', if not, na rubbish you go dey generate... and it is VERY MENTALLY TASKING... I can't participate in more than 1 or 2 contests in a week or even a month. so not a sustainable source of income for me... `just for 'fun' sort of income only.

Finally, look at the top-rated creatives, go to their profiles and look at the domain names they have listed on there. If you take time to study the names, there is a general trend that they seem to follow... try and capitalize on the trend and play around with online dictionaries and thesauruses to get positive results.

Good luck!

Gabson91:
;DReport the sale you made before you get any response. Signed: management

Lol... Actually, it's a funny story, maybe it will ginger someone in some way. I stumbled upon Squadhelp randomly about 3 months ago, registered, looked around the platform and simply went to the $100 dollar naming contests (which is what I was qualified for at the time, didn't even know about the 'bigger' domain listings and sales on there)... found 4 contests which resonated with me and I submitted 1 name each after thoroughly reading and understanding what the people wanted the name to reflect ( one was a homeware business, one was for a piano tuning app, a bathroom intelligence device(water saving) and a mental health help app (Ualright.com, winning name).... submitted my listings and forgot about squadhelp until like 2 weeks ago.... only for me to log in and find out the ualright.com was chosen as a winning submission LOL!.. now I want to withdraw my chinkili $90 (squadhelp takes 10%)... this W-8ben dey confuse me..... helep me oohhh abeg!

Squadhelp people! Please help! Has anyone withdrawn their earnings successfully? I have requested for payout to be made but I noticed this clause,

''We currently do not have your W9 or W8-BEN form on file. Please send this as soon as possible to service@squadhelp.com so that we can process your payout''.... "

It's basically Tax related stuff.... I have checked both forms out online and apparently the W8-BEN is for Non-US residents.... Did anyone have to fill it out before receiving their earnings? If so, where do I get an ITIN number as an individual? Any help would be greatly appreciated.

smartshegz7:

I got it the following day. Less than 24 hours.

Thank you, appreciate the information. Do you happen to know a trusted paypal and payoneer exchanger?

smartshegz7:
Good evening people,

I need help from someone familiar with TransferWise

Someone in US transferred some money to my FirstBank account using TransferWise since 12pm but I'm yet to receive it despite their website saying it will take 4hours.

Please is this normal or should I start probing the delay?

Hello, could you kindly share if the money got to you eventually? Thinking of using them....

barapistis:
I need a trusted exchanger please

Kindly help with one

And not zdoh

I am done with him

were you able to get the exchanger? Did the transaction go successfully? If so, would you mind passing on their details to me please? Spent the last hour scouting through Nairaland, mixed reviews everywhere...I dey fear oh LOL