₦airaland Forum

SeaTrade:
lol you still dey learn na,I'm sure you never face things on your own before.
Even corporate businesses(one man board ones) still dey use street methods to collect their bread in these cases so I don't know what you are talking about .
If you like,let someone do a contract or supply to your company and you think you can die on your debt in the name of corporate world abi laws and all that BS and think you will go Scot free because you are dead,
Wey be say you get family
Your children go soon join you for land of the dead be that
The most criminals you can think of are these corporate guys wearing suits forming rubbish ,they know all criminals and criminal activities and are financing some sef for their interests.
Wake up you this girl.

Shuooooo. Is @Lazyyouth4u a babe?.

ojesymsym:
The Japnese are one of the most hardworking people on earth bros, as a matter of fact, their children are usually groomed to take over their businesses. Their kids start working at around age 16.

See Otedola children all turn DJ, na that one u wan take compare Japan.

Take your time o. Wetin do DJ?. You know weda i be DJ?.

Donbrig:
After retirement, health is always one of the biggest issues that could ruin your finance if you don't have a good financial stand, not just food or other social activities.

Pray not to have a health situation when your local doctor will refer you to India or one of those expensive hospitals in Nigeria for a treatment that could cost you millions.

If you can, try to always increase the monthly earnings for your retirement goals, no amount is too big to earn after retirement, especially when you have invested enough money. I only feel and pity those poor civil servants who don't have too many options.

@Lazyyouth4u said a man and his wife in good health in the village. There are times that even 50m is not enough for health weda retired or not retired.

Lazyyouth4u:
You don’t need to be ‘rich’ or ‘wealthy’ to have a comfortable retirement.

A man and his wife (in good health) wey get decent house for village (assuming they have grown up children that are not depending on them for money) don’t need more than 100k to 200k monthly to live a decent life. With like N20m to N50m in correct bonds at retirement, they are good to go

A very frugal retiree can even ‘survive’ on 50k per month in a ‘village’ where life is very simple. This person will need much less than N20m. This is really pushing it sha but wetin common man go do na

Which village you wan spend 100k to 200k a month?. Na the entire village you go dey feed on monthly basis?.

Donbrig:
You are rich if you have over 50m net worth, and can generate a minimum of 5m anually from this 50m as passive income.

You are wealthy if you have over 250m net worth, and can generate a minimum of 25m anually from this 250m as passive income.

Though this is relative and doesn't have any statistical fact. But our high inflation rate could also be a threat as to how much you really need to be rich or wealthy.

However, there is a very big difference between rich people and wealthy people. If you know you know.

I need to go and show this post to my village people that has been classifying me among the rich and wealthy in the country and to all those that have been telling me that they are rich and wealthy.

Donbrig:
You are rich if you have over 50m net worth, and can generate a minimum of 5m anually from this 50m as passive income.

You are wealthy if you have over 250m net worth, and can generate a minimum of 25m anually from this 250m as passive income.

Though this is relative and doesn't have any statistical fact. But our high inflation rate could also be a threat as to how much you really need to be rich or wealthy.

However, there is a very big difference between rich people and wealthy people. If you know you know.

Are these amounts location specific?. What if i live in a city like Benin, Ibadan, Ilorin etc that is not that expensive?.

Lazyyouth4u:
Okay boss. Good to know that wife now only needs a source of income and not steady 9 to 5 job for both spouses as you mentioned earlier. There is hope for man pikin afterall

I still don’t understand how the employment or income earning status of the wife of a well paid tenant with a steady job should concern a landlord. As a landlord, am I not better off with a tenant that has a steady job that pays very well who has a stay at home wife vs a tenant situation where both spouses have steady jobs/income with not so fantastic pay/income?

The house wife gossiping theory is kind of funny and weird at the same time.

Real funny. Gossiping is normally in face-me-i-face-you type of accommodation. Who gossips in a flat based accommodation when sometimes you might not even run into your co-tenant in three months.

emmasoft:
Yes Investment one do TBills. The minimum amount is100k

To start, Click the link on my signature and register; in this case the product name to pick is Fixed income.

I already have VGIF. Iam asking just in case i want to convert my VGIF to TBills.

emmanuelewumi:
So funny, the only way the middle class think you can get income is solely by having a 9 to 5 job. What happens to enterpreneurship, small businesses, part time job of 15 hours to 20 hours per week, working from home, Investments, passive income etc.

It is the same way that some landlords and some people think that if a wife does not leave the house every morning, she is a full housewife. I know of a woman who was intentionally dressing up and leaving the house every morning so that people will not say she is a full time housewife even though she was doing some business that did not require leaving the house every day.

emmasoft:
TBills rates are still low for now. I will advice you keep the money in VGIF which allows you to top up while waiting for better TBills rates. As soon as rates become favorable you can move your funds to Tbills. VGIF currently is 4.5% and there is every likelihood of increase because the CBN may want to look at the possibility of increasing MPR judging from the current inflation rate.
Just an advice. Do your due diligence.

Does Investment One do TBills?.

Lazyyouth4u:
That’s why man pikin wey get family must strive to own his or her own house, no matter how small. So that one won’t be at the mercy of Naija landlords and their various rules and requirements.

Walahi, common man dey suffer for Naija o

Real suffer.

There is a staff we employed two years ago. She was working and then stopped when she got married in order to take care of the children because the husband was also working and both leave home very early and come back very late.

The kids are grown now and in boarding schools and so she applied to us for a job and we took her. If that woman and her husband be Oga Emma tenant, he for quick quick give them quit notice.

If i was also Oga Emma tenant, na so he for give me quit notice too because my wife started work when our kids entered boarding schools.

emmanuelewumi:
Dangote's daughters are not full time house wive, they earn huge passive income. Their husbands can't be the sole provider.

Even Jim Ovia's wife is not a full time house wife, she has real estate scattered everywhere earnings hundreds of millions of not billions of Naira every year. I learnt she is the landlady of Civic Center Victoria Island Lagos.

If you truly love your wife, you won't want her to be totally dependent on you.

I hope you know that full time housewife does not mean that the woman does not earn income or earn passive income?. The mistake you are making which many people make is that once they say full time housewife, it means the woman does not earn anything and is fully dependent on the husband.

On the bold, so Jim Ovia's wife does all these from her house without going out on a daily basis, will you not say she is a full time housewife?.

emmanuelewumi:
That is my own opinion.


Both of them must have a source of income. If your wife is a full time housewife, you can't be my tenant.

Different strokes for different folks

Who will you choose from this:

(a) Dangote's daughter that is a full time housewife.

(b) A wife that works and earns 40k a month.

emmanuelewumi:
You are on the wrong thread.


Have you shared this with your family and friends?

What if he/she does not have family and friends?.

emmanuelewumi:
Available to the rich. You can be rich in terms of money, track records, network, business ideas etc.

Banks won't provide a N100 million finance to someone who has not handled his own N10 million.


Read about the case of the guy on Twitter who lost N150 million he got from people in a forex scam, marketed by a guy he met at N power training.

How can a normal person entrust a total of N150 million to a guy who went to N power training due to joblessness to be paid 40 k per month after the training

What was even his purpose of sourcing for the N150m in the first place?. Just imagine an N power applicant now gave an advise to somebody that raised N150m. The guy must be an idi*t.

ahiboilandgas:
not all investment loans are covered by asset .it's limit space for bank participation in several business and reduce profitability of banks ....some investment are beyond asset collateral...but cash flow analyis ...w[b]hic asset did dangote drop to raise 12 bn dollars for the refinery projects [/b]...?

Dangote is building a refinery which is to fill an area of need. Giving a huge loan based on the building of fuel depots for the sole purpose of fuel importation and storage is super risky because there is no guarantee that a government will not come in to fix the refineries. Well, Buhari came in and made only NNPC to import and also gave a license to Dangote to build a refinery. BUA is also building.

ahiboilandgas:
Nigeria is too unpredictable.....example a lot business men took up loans to build depots to tap into the 2 trillion naira oil and gas business ...after the govt tricked dapman and ipman member to establish plenty depots and station we now have self sufficiency in storages,haulage And retail point ....suddenly mr pmb won election accuse ever body of corruption and stop ppra from giving any body import allocation.on pls ..only NNPC this a 50m litres a day business....over 50 depot are idle...since 2015 ...some survive on triput agreement with ppmc ......so what happens to the asset stake to raise the finance to build a depot....what happen to the workers? ...capital oil and Gas has 24 loading arm can fill 300 truck daily .......out of action since 2015 ....

What assets did Capital Oil and Gas use to get loans to build the depots?. Iam sure none or over inflated assets were used and the banking officials were bribed and given kickbacks.

ahiboilandgas:
Petrol racketing has begins Nigerians are face with only 2 choice for now....a 200 naira fuel crude at 61 or long hours in stations and forced to buy black markets at 250 ......the choice is yours.....since we have collectively run down our refinaery in the name of been the smartest people on earth.....

Government will try to avoid social unrest by subsidizing while waiting for Dangote refinery to start production.

Godbpraised:
Thanks my sister or brother, people keep talking about dollars, my question is do we spend dollars in nigeria? I have dollars in uptown and i spend dollars there i can not come and spend naira in U.S or canada . so i no really send i have decided to split my invesment naira and dollars. once i allocate my naira invesment in nigeria it never comes back US or canada.

You know that most times we do things in Nigeria for show off and to do guy. There was a time that people living in Nigeria were just buying houses in US and London that they only stay for a week or two when they travel for their yearly vacation. The word then was 'i have a house in US or i have a house in London'. To show say you be big man now, you go say 'i have a DOM account'. Very soon Okada and Kekep Napep riders go open DOM accounts and also be saying 'i have a DOM account'.

igbizen:
Don’t mind non-investors...he is a saver if you ask me. I haven’t had any forex expenses since 2017, why should I concern my self with converting my money. Any forex I get I leave as forex. My naira I invest in naira shikena.

Gbam.

Same with me. I earn in Naira with all my expenses in Naira. So why should i bother myself with hoarding forex?.

ahiboilandgas:
no it doesnt .....cos u need to balance up to restock at the new depot price unless u are out of the business ....example a 20 naira increase mean 900k more on the capital to re procure....so if he sell at the old pricw where will he get 900k to buy same quantity again ...like wise if price goes down he can't review immediately cos the estimated profit and cost of sale and time value of money has been factored into the procurement ....and profits are already ancipated ...

If he got 45k litres at old price and sold only 10k litres before price increase, it means that he will now have 20 naira extra on remaining 35k litres. Will that not be enough to cover for the new depot price?.

ahiboilandgas:
[b][/b]the depot stop loading out awaiting new price ...no body want to the cut unguided.....at price increase of 20 naira can caused a lost of 900 k on a 45000 litres truck....dont blame the station ...cos if the sell at 162 and new price come put the need 1m to balance up to continue the business....so image some persons like AA rano that might have 100 truck on transit and 5 m litres in fuel station......single mistake can cause a loss of 200m to him ...

Does price increase not always favour them?. They always sell old stock at new price. That is why they adjust their pump price immediately there is an upward price review but do not adjust immediately when there is a downward price review.

ahiboilandgas:
they should get a less gas gulping car or buy tricycle

In Naija?. You know people think riding one big SUV means you are a big man.

ahiboilandgas:
the dangote refinery will deliver a market driven prices to depot for onward sale to consumer.....if u full your tank now (60 litres) x 20 difference ( new price) that a saving of 1,200 naira today that can buy bread or recharge card or data ....investors and business people don't joke with discounts ( its a culture ) no matter how small...

After that nko espercially for people that use a full tank a week.

ahiboilandgas:
Get ready to for 187 per litre P.M.S.....full your tank today......

If i full tank, will it carry me till Dangote refinery comes up?.

X21:
yes dear

Interesting but not charging COT on that will be short changing the FG on the VAT component of the charge.

X21:
i do this every time. there is no charge with GTB. i do not know about other banks. keep an open mind and ask relevant people

You mean if you transfer money from your GTB Current account to your GTB Savings account, COT will not be charged on the transaction?.

LagosInter:
Thanks

What do you think about this below please?




Please will this your idea still apply if it's a corporate Current account?

Like Can I move funds from the corporate current account ( business name registration) to my personal savings account maintained in the same bank and it will still be Cot free?

See my response in the post before this.

X21:
if the current account is in your name, open savings account in the same name. move fund from current to savings account and then disburse from sa vings account. current to savings is COT free

This will not solve the problem because COT or Account Maintenance charge is per transaction. So if he was doing a monthly cumulative debit of N10m disbursed several times, he will still need to move the N10m at once to the savings accounts. The 0.1% COT will still be charged on that one time N10m movement from the current to the savings account.

LagosInter:


Which bank charges low or NO charges on business accounts?
Either individual or corporate business (current) accounts please.

[b]Gtb wants to kill us, they take10k on each 10 million that touches the account.

If I mention what they have withheld this month alone, you will pity us.

Please help.

[/b]

This is a standard charge fixed by CBN for all banks. It is called 'Account Maintenance Charge' and it is applicable to any individual or corporate Current Account. It is N1 for every N1,000 or 0.1% of transaction amount.

If you transaction volume is high, you can negotiate the rate through your account officer.

chigo4u:
While Otedola left the oil business, Elumelu, Dangote are entering into it. Interesting times

Otedola was just importing and selling. Elumelu and Dangote are not into importing and selling. Otedola knows that with Dangote refinery coming up, the days of importing and collecting dubious subsidies is over.

TransAtlanticEx:
Oh please,he is being hopeful for nothing and not realistic.
And he is stupid and naive too,too naive to see the bigger picture.
I'll pass.

If you are not hopeful, then why are you still here?. Why you never jakpa?.