₦airaland Forum

GRACEGLORY:
Well, sir, you are not the only one who is asking this question, but most individuals are more concerned with profit and loss, what they may gain or lose, than with security. Hence the misunderstanding. Let us now disentangle the misunderstanding by addressing the main issue at the core.

Reason for Saving in a stronger currency is beyond profit and loss. If you save in dollars, your money will be safe regardless of whether the Naira rises or falls.

Here’s breaking it down…

You will save #500,000 and I will save $301.90 if we decide to purchase a certain item for #500,000 (or $301.90) in Nigeria at the current exchange rate of 1,645.50 to $1. My $301.90 and your #500,000 are exactly equivalent.

Since I have savings in USD, if, for example, the exchange rate lowers to N1,400 to the dollar in a month, my $301.90 will reduce from #500,000 to #422,660. Even though it looks like I lost $77,000,340, I still have the same purchasing power as you who has your money in Naira all the while since the same item is now $422,660.

I can still buy the item even if Fx turns out to $1,800 to the dollar since my $301.90 can now be swapped for $543,420, which is the current price of the item. I don't need to get any additional funds. I don't have to save any more because my $301.90 is now worth #543,420, but in your own case, you will have to add more money(#43,420) to buy the same item.


As a result, if you save in dollars, your money will be safe regardless of whether the Naira rises or falls.

The most important factor is "SECURITY, not profit or loss.."

zeenaman:
Premier league is on a different level. Same thought was running through my mind watching Arsenal Burnley.

ipobarecriminals:
How old are u during Wet e,Ajasin/Omoboriowo wahala in ondo? Ask ur father/any Elderly ones above 50 in ur compound. How old are u wen we are doing IBB,ABACHA must GO?.indomie kid .u can only deceive ur gullible mates not the elderly/sensible people. Imagine the lies "She removed her bra with her left hand, in the full glare of the class.Dey had 3 some(only u saw them oo ) .She died of Aids,the 1st boy died mysteriously too and the 2nd carried basket waka .I don read/listened to ODUOLOGY by Gbenga Adeboye Aka Funwontan .Kid

Saturnalia:
CBN sells to Banks @ 1,490 Naira? And the Banks will sell to the BDC operators @ 1,690 Naira; BDC will sell to the general public @ 1,890 Naira, and the cycle continues.

Until the Black Market is scrapped, trust me, this is an exercise in futility.

IAmHim1:
inflation and the state of the economy might make it harder to breal even UNLESS you hike prices of your product youre selling to counteract inflation effects to gain actual profits

MOG6670:
North/ Adamawa

Roseodd:
Can 3.5million take someone out of the country to hustle

MOG6670:
With 3.5m you can do something reasonable in this country sir

Naira exchange is not favourable now.

My bro just come back last month

Themilkboy:
some months ago, I had unprotected sex with one of my ex girlfriend who came visiting.
She didn't tell me she was infected or anything yet she let me do it raw.
Some weeks after, I started to notice some small things like pimples around the cap of my penis.
Those things very very tiny but I knew my penis was not like that before.

Gradually, I started noticing some growth that were like other pimples. Now I am having spots on my face that looks like acne. I also have several spots on the back of my shoulders.

My face and my back wasn't like this before. Please help me. These spots are dominant on my forehead.
I think I have some sexual infection.

Please what medicine can you suggest. I can't afford to go to the hospital now

nwadikeokey11:
Someone that can not afford STDs test that can't be more than 5k you are here telling him about supplements that a 30days dose may not be anything less than 17k, and he may have to take that for the rest of his life? Calculate 17k every month for 1yr, then x it to the 90yrs he may likely live here on earth and see how much that is. Then ask yourself how many people in Nigeria can even afford that let alone a person that can not afford a common STDs test money. You try. I pray God show him mercy though.

SoftChordz:
. I'm glad to see only one person that knows what's happening behind the scene. Most are here talking about tekonomics, market cap and all hahaha they dont know the plans at all. Well I'm happy you know what's happening and bought some XRP too. Stay diamond hands bro.

76RebelMoney:
What did he sell?

dayo2hot:
Alhamdulillah.

Sale Report.

ClintonLandscaping/ king

Price -$1,208

Ed picked

Hold time- 3 months plus

$1 namesilo promo back in September.

First outbound till the price was reduced to $250 no green light, I increased the price to $1,208 to re-outbound it the next day and woke up it was already sold.

God bless you all and more sales to us..

traware:
@Emboldened

YES.
Infact in today's world,many men who have acquired quite a bit of material fortune are definitely not high quality men.
It is easy to decipher from their utterances and actions especially when it concerns women.
You can put a hold ring on the nose of a pig but that doesn't stop a pig from being a pig.

traware:
Money does not create sexual desire from women towards a man.
Money simply makes women want to associate with/marry a man for financial security.
Money is just coping mechanism for males who have nothing tangible to offer women.

Streak47:
Why should I be afraid of having a 2nd, 3rd, 4th, 5th or 10th gf(wife) +other side chicks or occasionally flings if I want. Why should you be hiding it from a girl(wife).

Some men that practice forced monogamy dey try. What are you afraid of? She go break up.

TotoNaRubber:
Nice coupon but do you know that the capital of this investment has been devalued by over 383% from 2020 when dollar was at N365.

If you had bought dollar with the capital and held till now, you would have been a lot better.

Your N50m @ N365/$ in 2020 = $136,900, It is now worth N50m /N1400 in 2024 = $35,714.

You lost over $100,000 in 4 years and counting

Tolu1992:
Where is naira to dollar running to

Windblown2much:
anyhow sha
In crypto world nothing is guaranteed 💯
Goodluck on ur portfolios 🙏

precioue:
Seeing the profits $myro is doing now. I’m biting my fingers that I sold when I saw only $500+ profit. It would have been up to $1,500 pure profits now. No regrets sha. They’ll always be another coin

Betterchoice:
nope

but i have heard of flipping

Betterchoice:
I am a lawyer. And I have always wanted to earn a good living for myself.

In 2018, I created topics here seeking advice on what to do especially regarding travelling abroad.

Here is a link to one of the topics:
https://www.nairaland.com/4743326/what-young-lawyer-canada-usa

I later decided to stay back in Nigeria as I started making some money from my business and other legal hustles.

In fact, I made my first one million through referrals from Nairaland here.


Right now, a lot has changed.

Earnings have reduced and with dollar at 1250, many of us have little purchasing power now.

We all have been impoverished.

5k in 2018 has same purchasing power of 15k now.

2004 Uber tokunbo corolla sells for 5m+ now.

That's a car 20 years old. Same car was 1.5m in 2018.


It's terrible.

Dollar is projected to still get to 2000 naira by end of the year.

The signs aren't good at all.


I would have applied for USA F1 student visa but the rate of denial is so high.

If I don't earn in usd now, I would be worse off.


WHAT I WANT:

I don't need financial help.

All I want are avenues, programmes or things I can engage in to earn in usd while still here in Nigeria.

I don't need to be spoon fed.

I just need pointers to widen my horizon.

I am ready to pay for some courses if need be.

Also, I would accept suggestions if there are other avenues that would make USA japa easier.

Scammers or those with gimmicks should steer clear please as you can't get a dime from me.


Don't waste your time, please.

Thanks!

Learner47:
Congrats and more sales. Btwn, Sav com is now 7.95 u save 2+ usd and they have Dan push. U can switch before Dyna start promo.

Respectfully, Isn't this domain squatting?

Pls clarify and let us know as we're all here to learn. I still get confused about the topic.

If I outbound assetmanagement [dotcom] an emd name to various end users from my understanding=flipping.

If I outbound Alexassetmanagement targetting a particular prospects could it be cyber squatting?