₦airaland Forum

Tvegas:
Suddenly Dollar has dropped to 430/440 at the Black market just on expectation of FX sales by CBN. This confirms CBN position that there is no real demand backing recent increases. Its all artificial and speculative plays. Its well with this country.

Good. Let those that speculated and bought at 470 make some heavy losses. That will put them in the cooler for sometime.

DexterousOne:
Why would anyone suggest closing down dormiciliary accounts?

What is the sense or rationale behind that?

You are late to the discussion party.

TransAtlanticEx:
Actually yes.
I'll only intervene when things are going out of hands,like say beyond 600.

How did you arrive at the magic number of 600?. Why not at 450, 470, 500, 550?.

TransAtlanticEx:
Trucks,pick up trucks,vans,cooling rooms,etc...

Go and buy all these from Innosson and other locally assembled manufacturers.

awesomeJ:
what if someone else gets there before my offshore bankers and thinks he's got a windfall? What happens to my sweet $$$�

That is your loss which is the risk you have to bear by using migrating birds instead of the prescribed channel.

ahiboilandgas:
clear articulate points......i suspect say u be cbn staff .........enough data ..

The guy is too much. Iam impressed with the analysis of awesomeJ.

Btw, i support that your theory of DOM accounts by individuals to be closed down. Of recent, somebody told me that a guy in his office is opening DOM accounts for himself, wife and kids. Meanwhile, this guy is a salary earner in Naira, spends Naira and does not travel out and his kids are all schooling in Nigeria. So what is he doing with $$$ in DOM accounts?. He collects his salary in Naira and go and buy $$$ to deposit into the DOM accounts. Just imagine.

awesomeJ:
Yes it is. I'd really like to know.

The CBN bans dorm accounts, someone is saying offshore banks, I buy my $100 or $12000 per week from aboki, how do I get it to them for deposits.

Look for any of the migrating birds from Nigeria to the country of the offshore bank and tie the bag of $$$ to the bird and tell the offshore bank to go to their nesting place for pickup.

X21:
other points to note
choice of car- 1.6 or max 1.8 litres engine capacity will save operator fuel cost. good Nigeria use corolla can be gotten for 1.2m vs 1.8m on direct tokumbo.
Driver selection- a very key success factor. experience shows that drivers who were once mechanics or involved in repairs manage vehicle better. they easily diagnose faults and are not cheated by mechanics. Ensure that driver you intend to engage does not have large family else your delivery will end up for family upkeep. So many good driver start to default as family and responsibility increases. Ensure you do not engage drunk or addicts otherwise delivery will be used to fund addiction.

Which model and year of corolla can be gotten at this amount?.

LebanonCedars2:
Hmm.... First, I don't know how big your sofa is. However, let me give you a breakdown:

An average sofa should use use between 30 to 40 yards of leather, depending on the size and design of the sofa

Cost of animal skin ranges between 10k to 15k per yard.

Service charge for animal skin is between 80k and 100k depending on the size and design.

Hope you'll be able to get the calculations sir.

Thanks. I can work with this.

LebanonCedars2:
Yes it's possible to change to this leather but you have to be sure other parts are very okay and will be able to last as long as the leather. These leathers are very costly and as such you most be sure you will be able to get value for your money.

Yes, they're very much available in Lagos. However, you must know how to be as they don't come in yards as other leathers. You can easily be cheated if care is not taken.

Please what price range(materials and labour) should i have in mind if i want to use this animal leather or a medium range leather for the one 3-sitter and four singles?.

Leezah:
Sir, this is Nigeria, some of the things you are suggesting will NEVER work. You read that right. NEVER work.

They will not work because the beneficiaries are the leaders, politicians and the law makers. So they will never allow such laws. A friend of mine always say that democracy is not for developing countries like Nigeria and other Africa countries.

You need a 'mad' man to come in and clean up this mess with strong arm. Who no gree obey should be sent to Sambissa forest with a bag of dollars to spend there.

ahiboilandgas:
ok u think u have more info more than cbn and it staffs ?have u ever been to the cbn office in abuja to see the think tank warehouse there ...u think it this cheri kambia analysis me and u do here ...to make me laugh.....u dont even have data of weekly dollar demand and capital importation..

'cheri kambia analysis'

Lol
Lol
Lol

LebanonCedars2:
Yes it's possible to change to this leather but you have to be sure other parts are very okay and will be able to last as long as the leather. These leathers are very costly and as such you most be sure you will be able to get value for your money.

Yes, they're very much available in Lagos. However, you must know how to be as they don't come in yards as other leathers. You can easily be cheated if care is not taken.

Ok. Thanks.

LebanonCedars2:
Pure animal skin leather sofa...

Oga LebanonCedars2, if i want to change the worn out leather of my settee (one 3-sitter and 4 single-sitters), is it possible to use this and is it also possible to get this leather to buy in Lagos?.

Grupo:
Please, which bank? I'm expecting from gtbank. Haven't seen the money yet.

StanbicIBTC

Nigsrdumb:
The amount of commotion in that house.
I nor fit laugh.

Any other suggestions, that isn't too chaotic.

Eg cheaper parts of lekki, ajah. Etc for people who no like stress

It was chaotic when it was face-me-i-face-you. The person that bought it put an end to that by doing self-contain with two tenants sharing prepaid meter and water tank connected to the prepaid meter. This effectively reduced the number of tenants and the chaos.

NL1960:
Who has the result of yesterday's TB auction?. Iam waiting for alert for TB maturity.

One year TB maturity alert has landed.

Lagos1991:
PLEASE, what's the best form of property investment in Lagos for good returns?

Budget is 50-70m.





ahiboilandgas
emmanuelewumi
transatlanticex

nl1960

etc

Depending on the area. 2 or 3 bedroom flats or better still self-contain(1 bedroom) apartments. I recently saw a storey building that was formerly face-i-face-you. Somebody bought it and converted it to a self contain (a room, a sitting room, kitchen, toilet and bathroom). All of them are occupied with young couples and working young bachelors. There is privacy for each person. The owner even created a space somewhere for generator compartment for each.

kisszhira:
Why are all these maths coming up?
You guys should stop derailing this beautiful thread.

Who has the result of yesterday's TB auction?. Iam waiting for alert for TB maturity.

mufutau55:
Glad you are OK sir.
Yes o, very fine. Unfortunately I had to import all my 2 livingrooms and Master Bedrooms furniture from here.
All furnitures for other 6 bedrooms were purchased in Nigeria.
I am still buying other furnitures in Nigeria to complete the project. It's not easy o, too much money on finishings. God help us.

Hajji M.

It is in finishings that the money goes to. I normally tell people that na from roofing stage house dey gulp money because you cannot do roofing in stages.

Philantropists:
It is because 70 percent of children born abroad lose the core values of the African culture such as family ties, respect, sense of responsibility.
My friend's child who is 14 calls his uncle a "dickhed" in front of his elders and everybody just sigh in relief.


We do want a sane country, lots need to change in Nigeria but there are good things about Nigeria like community share of responsibility. Like people can easily dash you N5000 when they see you hungry but In a developed country someone who looks hungry doesn't get a dime, there are exceptions though.

You can get through many things in Nigeria.

Don't they have what is called 'brain resetting' slap in that country?.

mufutau55:
How much is this set with real leather. Thanks.

@Oga NL1960 ...... Howdy? Long time.

Hajji M.

Hajji, iam fine.

This work here is very fine.

.

niphmmy:
Thanks for your response. I'm actually looking for a Muslim secondary School.

Just use google to do a search. I did a google search that threw up several Muslim schools in Ibadan. Iam not a Muslim nor live in Ibadan for me to do a proper appraisal of what the schools claim to offer.

niphmmy:
Please, anyone with a good Muslim school( both Western education and Islamic Education) in Ibadan. Wofun/iyana church / Monatan axis to be precise...

Needed ASAP
Thanks

There is no mention of whether it is a primary or secondary school that you are looking for.

I will advise that you google Muslim schools in Ibadan. You can then pick from the list and do a physical visit for verification if you are in Ibadan or you send a mail to the contact email of such schools for the information( both Western education and Islamic Education) you are looking for.

emmasoft:
Thank you Sir for choosing Investment One. I hope you got the usual acknowledgement mail after form submission.

I got it immediately. Checked my mail an hour ago and discovered that the account has been created. That was fast. I have also created a login profile from the website as i intend to do my monitoring from the login profile.

jp130:
Thank you so much sir, i appreciate

Madam Sholapey is a female just in case of next time reference.

emmasoft:
Two possibilities

1. It could be network issues from your internet provider at d moment you are trying to submit
2. Your kyc documents may be too large.

Solutions
1. You can try again at a suitable time
2. Reduce your kyc documents before uploading
3. You can also reach out to me on 08181057319
I can help out on the reduction process or if you think there are other possible cause of the issue.

Be assured the link is working and you will be able to submit just as others are doing.
We value your patronage

The link is working as i used it to open a VGIF yesterday. Just chilling now waiting for my account number as my TB will mature next week.

Philantropists:
The exchange rates will keep going up for now even when International Airport reopen on August 29, the demand of forex by Nigerians waiting to travel out of Nigeria will go up and this will push the exchange rate up.
We could say the number of Nigerians coming into Nigeria to bring forex too but you can't compare the number of people trying to run away from Nigeria to the number coming in for visit, the ratio is like 1000:1.

I just tried an experiment here in the UK, i used my Nigerian bank card to withdraw Pounds and they charged N630/£. I think it's only the begining of what to come.

When foreign schools open, it will also put a lot of pressure on the exchange rate.

Grupo:
I'm genuinely curious right now. He said he was charged 0.5% transfer charge.

Say he wanted to withdraw $1,000, it means he paid $500 in transfer charges? Right? Or I should go back to secondary school?

No. It will better to go and start from Primary 3.

ojesymsym:
The naira end of it is good, CS is also good as everything is online but I am not sure I understand the dollar fund part very well, anyway, make the money de there not like I need it urgently. Rates are not static, but as expected, they are not very high. If u see MMF as a way of savings with interest, you won't be too worried, but if you are like ahib who checks inflation rates, devaluation, naira vs usd and other microeconomics, then I suggest you go into other ventures. MMF is not even a get rich scheme not to talk of being a get rich quickly scheme.

You forgot to add Forbes list.

Sholapey:
NIGERIAN NAIRA FAST BECOMING THE WEAKEST CURRENCY IN AFRICA....

South Africa: Rand 1= 79 Naira
Angola: 1 kwanza = 12 Naira
Botswana: 1 Pula = 28 Naira
Cape Verde: 1 Escudo = 8 Naira
Algeria: 1 Dinar = 12 Naira
Egypt: 1 Pound = 35 Naira
Eritrea: 1 Nakata = 18 Naira
Ethiopia: 1 Birr = 19 Naira
Ghana: 1 Cedi = 56 Naira
Gambia 1 Dalasi = 9 Naira
Kenya: 1 shilling = 6 Naira
Liberia: 1 Dinar = 8 Naira
Lesotho: 1 Loti = 19 Naira
Libya: 1 Dinar = 156 Naira
Morocco: 1 Dirham = 176 Naira
Madagascar: 1 Ariary = 14 Naira
Mauritius: 1 Rupee = 16 Naira
Malawi: 1 kwacha = 21 Naira
Mozambique: 1 Metical = 24 Naira
Namibia: 1 Dollar = 32 Naira
Seychelles: 1 Rupee = 22 Naira
Sudan: 1 pound = 42 Naira
Swaziland: 1 Lilangeri = 19 Naira
Tunisia: 1 Dinar = 150 Naira
Zambia: 1 kwacha = 28 Naira

Even the worst economies of Africa now have more valuable exchange rate than us.

Is Nigeria still the GIANT of Africa?

Chai. Dem go soon start dey compare Nigeria currency to Benin Republic CFA Franc or the 'artificial' Ghana Cedis wen dem comot plenty zeros.