₦airaland Forum

ojesymsym:
Jamb is the major reason for such schools. usually people who do not want too much wahala with JAMB

Not really true. The private universities have the capacity to absorb what FG and State University cannot absorb through JAMB. Maybe the universities in Cotonou are way cheaper than the private universities in Nigeria.

ojesymsym:
Exactly. Our copy of the educational system of the west in not really the best. You can teach a child 1,2,3 by asking him to count the number of goats or chicken or eggs in the farm, all na still education.
For English, the student can write a report of his experience in the farm or something. Practical education is what we need.

The model of school in my head that I hope to open soon is a school that is run as a company where the teachers must be able to practicalize what they plan to teach. The school will be both a service provider and a school, the students will learn by helping in part of the service delivery. With that kind of model, the school will be an income generating school to the extent that you can even offer free eduation.

One traditional ruler in SW has done this. A video of the school circulated on the internet some months ago. The students work on the school farm and produce what they eat. The school is full boarding and it is free.

ahiboilandgas:
says who? 4 m Nigerian educated people are hustling Npower up and down abroad get level , mushroom universities full Malaysia and India plus that yeye university for cotonu ....money spent on learning a demand skill never goes to waste rather .....federal govt jobs are now for sale to highest bidder or connected the ibo apprentice system has produced more millionaires than All Nigeria univesrities combine plus there benin republic counterpart....it has created more livelyhood

What do people see in a cotonou university?. The person should rather go to a private university here in Nigeria instead of a university in cotonou.

emmasoft:
Join the VGIF bus at 7.5%; there are many vacant seats, the bus can take everyone and it's slow and steady.

I don dey take style look this VGIF. My TB matures on August 27. 2020. Might consider moving the funds to it.

OgogoroFreak:
You be Scholar

No o. As he forget to mention our brands, that na why i dey remind am.

Nigsrdumb:
But EUR tracks the dollar, nothing changes.

Won't it be better to order from China directly?

You need FX from CBN through your bank to convert your Naira to and CBN keeps our foreign reserve only in USD.

Nigsrdumb:
You want euro to counter the dollar, please how will this benefit Nigeria?

Where do we import from?. I want to import from China, i will do Naira to Euro to Yen instead of Naira to USD to Yen. I should only bother myself with USD if iam importing from US.

ahiboilandgas:
we might not go the Lebanon way cos we eat a lot of local food infact Nigerians can do without foreign food items ..we can live on yams ,patatos,beans,cow meats ,beef local chieckens ,palm oil locally made....

You forgot to mention palmwine and ogogoro.

ahiboilandgas:
i luv ur points dollars holding the world hostages.....dollarlization of global trade after 2nd world war is the greatest scam ever plus the paparlization of money ....it put Americans at a perpetually advantage...

Why can't Euro counter this US dollar hostage?. US prints dollars anyhow and expect the world to be chasing what they print locally in the name of exchange rate.

mickky22:
You didn't administrative fee.

Administrative fee is one off and is not monthly.

emmanuelewumi:
They do. You got a loan of N1 million You paid interest of N5000 on the loan and then used 200k to service the loan.

Nest month you will pay interest of 5% on 800k

That is reducing balance. MFBs do not do that. They do strictly flat.

A loan of 1m on monthly basis will be:

Monthly Principal = Loan Amount / Tenor = 1,000,000 /6 = 166, 666.67

Monthly Interest = Loan Amount * (Rate / 100) = 1,000,000 * 0.05 = 50,000.00

Total Monthly Repayment = Monthly Principal + Monthly Interest = 166, 666.67 + 50,000.00 = 215,666.67

Total Amount repaid at 6 months = Total Principal + Total Interest = 1,000,000.00 + 300,000.00 = 1,300,000.00

ahiboilandgas:
why will u do that when ..conventional bank are hustling clients for 1.33 permonths....this not loan but armrobbery 60 percent per anum...

A conventional bank will only give consumer loans at 1.33 per month. The security or collateral is the salary account domiciled in the bank. The clientele of the Microfinance banks do not have collateral or security. The conventional bank will not give that person a loan without collateral or security and where will the person get the collateral from?.

emmanuelewumi:
That is about the rate from microfinance bank. It depends on what he wants to do with the fund.

Not bad if he can convert the N1 million to N2 million in 6 months, and the interest will be on a reducing balance basis

Microfinance banks do not operate reducing balance basis. It is strictly flat. That is why they state their rates as per month.

freeman67:
Yes, it is for entertainment. A reality TV program that showcases how lots of people behave when there are to cohabit with other people. There are instances where 2 people both agree and do something silly on Int'l TV. There instance when 1 will want and the other won't. Those things are not all they do anyway. The show try to amplify the talent of participants too but the most amplified thing are the silly because scandals sell news more in this our generation. .

It goes a long way to tell how exposed/degrading things get to in this our generation. All things that hitherto was private and now getting public including human body parts.

Very true that a some serious minded people and people with high moral will not fancy that sort of entertainment because of some of the things portrayed in the show. I believe the producers have boundaries for that.

It is however, very glaring that lots of people like because the price for winner( which will come from the program sponsor and contribution of the voter/viewers) and the number of DSTV subscription during the period of the show keep increasing. It seem


Make I no derail this thread with that mumu show matter sha..

Chai. You wicked o. After you don praise the show finish, you come end am with 'that mumu show'.

TotoNaRubber:
The voters benefit from absolute stupidity, most of them believe their vote counts. I have this new friend, she told me her friend asked her bf to recharge N10k so she can vote big brother nigeria and the boyfriend was reluctant, she begin para for him and he foolishly loaded N10k for her to send messages for N10k.

When the N10k finished she took her boyfriend's phone and continued voting.

So this same girl now turned to me and said when voting starts i should send her N10k recharge card so she can vote. I just said ok, but until then.

That boyfriend is on his way to poverty if he continues with that lady and end up marrying her.

emmanuelewumi:
Even Dangote lost billions of Naira from the transport division of his business, a lot of sharp practices by the managers of that division.

Na wa o. Even Dangote.

Somebody that drives a rickety Keke Napep has been begging my wife to talk to me to buy him a 7-seater bus popularly called Korope bus to drive to replace the rickrty Keke Napep. I no gree o. Too many stories from those drivers.

emmanuelewumi:
After running the business for about 5 years, the owners might decide to stop the business if he doesn't break even. The workers will be the losers on the long run.

The workers are not thinking of the long term implications of what they are doing. To them, they are smart. When the business now folds up, they will be the first to start abusing the government for not providing jobs for the youths.

ultron12345:
Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

I saw that topic and was shocked. Salary of 35k per month and 2k daily allowance with him living within the area and he is still stealing 50-60k weekly. Seeing this, who wants to go and invest in the real sector?. Like i always say that if you are not physically available to manage your business yourself, there is no point setting up one.

Akin3891:
Could it be they are not being truthful with the bids rates, because no individual investors in his or her right sense would tie funds down for 1.2% when saving interest is 3.75, much of these funds aren't from individuals, seems like a game.

When money is in savings, there is the tendency to go and withdraw it for frivolous spending or frivolous request. Such money is no longer available when it is in TB.

emmanuelewumi:
The money will be returned.

CBN does not want them to use the fund to speculate on forex or become too heavy on fixed income.

Upon all the deduction, growth was observed in the H1, is half year financial report of the banks even with the Covid 19 pandemic.



MTN is minting serious money in Nigeria, with an average revenue of over N100 billion per month from January 2020 to June 2020

Telcos are milking money this period from data because of online lessons. I have to suscribe data for my kids every 2 weeks for online lessons.

emmasoft:
It has to be picked because investors in mutual funds have their different objectives while investing. Some investors prefer to invest their interest from mutual funds in other forms of investment while some use theirs for sustainance.
N. B interest becomes part of your capital (capitalized) only at the date of payment not as it is earned. ie interest earned daily but paid or capitalized quarterly for MMF and biannually for VGIF.

Does this not mean that if i put such money in a high yield savings account that capitalizes monthly, i could outperform any MMF or any fund in the same category as VGIF?.

emmasoft:
It's automatic if you picked that option during your account opening process. That is what obtains at investment one and I want to believe it's same for other fund managers

Why does that option have to be picked?. I thought interest being capitalized automatically equates to compounding.

DexterousOne:
Bermuda

Na the Bermuda wen that traingle wen dey dissapear things be this?.

DexterousOne:
One mighty refinery
My goodness

It seems you already have financiers on lock

No oooo. I think i have seen where the confusion is in the post. It is a punctuation error. The 'here.' was supposed to be 'here,'. Let me correct it in the original post.

DexterousOne:
That's also fine

Everyone has their goals in life
And we are all working assiduously towards it.
But the common goal here for everyone of us
Is for our unearned income to get to a level where it can cover most if not all our expenses.

That should be the base for every one here
Like the "worst comes to worst " level

Gbam. You are getting what iam driving at. If i want to be on forbes list, i will not be here, i will be setting up one mighty refinery or trying to invent what has not yet been invented.

ahiboilandgas:
j want to be on the forbe list and make endless income for myself and clan .....hope u are now ok

...am one of them ......

Me iam not aspiring to be on the forbes list. There are other billionaire lists.

ahiboilandgas:
this are not church sermons , here is an international ,national and subnational benchmark to gauge richness.....this an investment thread to get rich ,and more and more and more money.....contented people are on religious thread seeking salvation and contentment...

That is why you are not seeing the over 2m users of this forum on this thread. They pick what they want and move on. Investments have levels. It is such levels that made some companies to have an opening amount for a stock broking account of N5m while some have as low as 10k. With that every level is catered for. Who wants to be on Forbes list can continue making money to no end while there are others that want to be on other lists. Is Forbes the only list in the world?.

ahiboilandgas:
u are missing the points....most rich people are from successful enterprise not fixed income and compounding.....they might be investing in fixed assets too

Iam not missing the point. Being rich is relative. Some people are content with just having 100m in fixed income while some are not.

ojesymsym:
Really? but somehow they are always able to at some stage save to buy a car, do a wedding, beer on friday and sometimes birthday parties?

Societal pressures make them borrow to do these and that is how more problems start.

ahiboilandgas:
really most people of forbe list of wealthy didnt build up wealth by compound interest i think?

No be everybody wan be inside Forbes list now. Iam sure there are other lists people can belong to. For Barca for instance, no be every player dey earn Messi salary and they are comfortable.

ojesymsym:
Compound interest is like a miracle or magic, it has enormous power. When you compound first fruits, second fruits, third fruits so that you get to a point where you will have more money than you can spend. Even civil servants can be surreptitiously rich in 18 years, if they just have the discipline to spend just a fraction of their income on compounded investments.

Not easy o. Too many things take money in Nigeria. Most times, people see themselves operating pay check to pay check.