₦airaland Forum

SirBen90:
Also known as "Tashere" units, "Afolabi" units refer to a minimal portion of a stock, bond or security. The origin of the term can be traced to the great NSEMPA.

emmanuelewumi:
Traced to the defunct SMN www.stockmarketnigeria.com.


Afolabi is an accountant who invests regularly in the stock market, buying his usual 2000 units. He was consistent with this and has built a substantial portfolion, investments and businesses for himself.

He is the CFO of one of the big insurance companies in Nigeria

Gbam.

Oga Ewumi aka baba landlord of our SMN www.stockmarketnigeria.com. Those were the good old days of stock analysis.

SirBen90:
Also known as "Tashere" units, "Afolabi" units refer to a minimal portion of a stock, bond or security. The origin of the term can be traced to the great NSEMPA.

I think that word originated from the default 'stockmarketnigeria.com'.

ahiboilandgas:
am talking for me self ....making money give me more pleasure...its make my soul happy ....if i buy zenith shares and it tripple am fulfilled....if i found an enterprise and employs people it makes me happy.....i have 12 drivers and 12 motor boys ....that 24 people add their wives and kids ...it keep me going and finding fulfillments ...

It is the same thing we are saying. It is like 6 and 9. There are people that what makes them happy is put their money in fixed income and then engages in volunteer work or philanthropic. They do not like bothering their souls with knowing if a driver has diverted their products or the truck delivered safely. What makes the person's soul happy is getting his half yearly interest and using part of it to sponsor kids from his immediate environment to school or providing infrastructure for those in need in his immediate environment.

ahiboilandgas:
sure i was talking to investors not retires .....dangote,dangote still dey find money ...u dont expect me at under 40 to just fix money at 10 percent and be at home doing notting (God forbid)......hustlings for money is beyond money it self .....it keep the mind,soul and brians busy ........persons at over 60 can choose to retire with 10 percents ....but young men should not .......i can retire today at 11.3 and earn 1m monthly ..
But my soul will be dead ,am not living....this 3 months lock down taught me so.....

If you retire today, your soul will not be dead. You can start travelling to exotic places in the world. You can fully immense yourself in philanthropic works. You can voluteer to teach in any institution for free and pass your financial knowledge to the upcoming generation. There was a video of a traditional ruler in one SW rural community who built a school with boarding facilities and it is completely free as in the students pay zero fees. The traditional equally teaches in the same school.

ahiboilandgas:
Just dont pill up money in fixed income at poor rate without strategy......even the 11.3 it will take 9 years for investment to double but what the real value by then .....example if with 40m i can buy 5 2 bedroom apartment in festact at 8m each .....with the growing populations what will be the selling price of each by 2030 .....may be 20 m ....so after 10 years my bonds will be around 80m ....how many apartments can 80m buy in same festac in 2030 80/18 =4....so i have lost 1 apartments worth (20m) ......that not my only lost i have also lost annual rents of 2.5m x10 years =25m .....grand lost will be 45m in value ....nb reinvesting coupons =rental increases .....empty apartments =failed bids...

Not everybody is after all these continous chasing of wealth. Some people are contented with 80m invested at 10%. They can easily live comfortably with the yearly income from the 80m.

emmasoft:
VGIF - Vantage Gurranteed income fund is a mutual fund in the fixed income category.
It has its rate benchmark with SDF.
It's currently 8.5%
Though there is a circular already issued as per SDF review by CBN which will take effect on VGIF by 1st of July that will make the Gurranteed rate to be 7.5%. Apart from the guaranteed rate, investors also get additional 35% of excess gain of the fund, though this is not fixed or Gurranteed, it's however paid every year at least for the past 6 years. The interest is prorated and earned daily but will be paid twice a year July and January or reinvested same time if an investor opt for reinvestment. It has a minimum holding period of 6months. The initial minimum deposit is 50k after that you can top up with any amount at any interval.
You can open account now and fund it later when your Tbills matures. You don't need cash to open VGIF account.
Click the link on my signature to open account. You can as well call or chat with my contact number also on the signature.

If there is a loss on the fund, what happens?.

emmanuelewumi:
Corporate lawyers are the deal makers in the business world.

Founder of FCMB was a lawyer.

Legal adviser of Nigeria Industrial and Development Bank.

Before he resigned to set up his Investment Banking firm in 1977.

Earnest Sonekan joined UACN as a lawyer in the legal department of the company.

Wale Tinubu is a lawyer, his eyes were opened to opportunities in Oil and Gas, Maritime when he worked at the commercial law unit of FRA William Chambers


Aig Imoukhuede, the former CEO of Access Bank is a lawyer. Who worked briefly in the chamber of Gbenga Oyebode before he joined the banking sector.

I hope you know that the mum was a lead in the "Better Life for Rural Women' programme of IBB's wife and he is also the son-in-law of Evelyn Oputu.

Abeg, leave all these things jare. As Ahib talk, this is Nigeria.

emmanuelewumi:
Gbenga Oyebode is married to the daughter of the late head of state General Muritala Mohammed, this doesn't mean that the gentleman was not qualified for the deal he closed for big businesses in corporate Nigeria.
Someone defined luck as when opportunities meet preparation.

This is a young man who graduated from Ife 41 years ago at the age of 20, left law school 40 years ago at the age of 21. Got a Master degree in Business law from the University of Pennsylvania 38 years ago at the age of 23. Got a Post graduate certificate in Business Management from Harvard University.

Qualified and got license to practice law in New York. Worked as an attorney with a law firm in New York for a year, worked in the legal department at Chevron Headquarters in Huston Texas for 3 years.

Came back to Nigeria in 1986, together with Ajumogobia, Okeke and Aluko set up a Commercial law firm. Until he left in 1992 to co-found Oyebode and Aluko chamber which is about the biggest multi disciplinary Commercial law chamber in Nigeria with core competencies in Oil and Gas, Energy, Foreign Direct Investment, Capital Market, Aviation, Project finance, Privatisation, Maritime, Telecommunication etc.


He is a member of the Nigeria Bar Association, American Bar Association, International Bar Association. For many years he was the chairman of the Business law section of the Nigeria Bar Association.

He is a member of the Advisory board of Johannesburg Stock Exchange, award national honours by Nigerian and Belgian government. Former Chairman of Crusader Insurance, Access Bank, former director of MTN. Current chairman of Okomu Oil and Rubber, CFAO and other companies.

With his pedigree as a member of Johannesburg Stock Exchange, it is certain that he will be the preferred Corporate lawyer for South Investors and companies that are newly coming into the country or already in the country eg ShopRite, Multi Choice, Promasidor, Broll Property, Stanbic IBTC etc.

With his work experience in the US, he will be the preferred Corporate lawyer for American Businesses in Nigeria.

For him to breeze through school like this, it means he had people that were footing the education bills. If anybody has such straight path and still end up being poor in life, then there is the need for questions to be asked.

ojesymsym:
Yes, a few days to handover, but with the benefit of hindsight, it was for the better as whatever trick he may have had up his sleeves, the cost of TAM since 2007 far outweights it.

Those against it were able to easily latched on to that. Do not forget that OBJ was the de-facto Petroleum Minister for 8 years. So just waking up a few days to handover to privatize what he has been overseeing for 8 years was taken as suspicious by those against it. The privatization could easily have been done in his 5th year. It was seen as he did not want others to chop from TAM after chopping it for 8 years.

ojesymsym:
Yar a Dua's reversal of the sale of the refinery to me is a treasonable offense.

That last minute action by OBJ was suspicious. Why did OBJ not do it early in his 8 years?.

ahiboilandgas:
he earns about 33m naira per anum......shit hole co....un....try ...

Imagine that and he generated zero revenue.

OBJ wasted time in privatizing the refineries. Doing it at the last minute was seen as suspicious.

ositadima1:
Kaduna refinery staff earn N23.2 billion, as facility posts zero revenue.

https://nairametrics.com/2020/06/16/kaduna-refinery-staff-earn-n23-2-billion-as-facility-posts-zero-revenue/

Yet some impenitent fellows here strongly believe that Nigeria is very poor and needs to devalue to survive. I tell them we have enough to make this country great, if only ...

Iam sure the MD of this refinery was paid a performance bonus.

ahiboilandgas:
but danflour is a loss making entity...the tiger brands lost over 200m dollars ....cos they refuse to do over analysis ....Mrs brought taxaco for over 800m dollars....where is mr sayyu today ...indebted to amcon and mrs is a loss making entity.....what happen to our shares in phb.......i dont know how much you invest .....but if i invest 5m in bond i wouldnt need any analysis.....if i want to invest 50m in same i will even attend paid seminars on bonds

So are you saying that all those that accounted for the 460% over subscription of the SUKUK 3 bond did not do any analysis?.

ukay2:
Sir I know all these you have said and refused to have headaches.....

No be today FGN will be paying debts.....

FGN will continue to acquire more debts even after these

Everyone should know how to be alright las las from your investment goals and risk appetites

What is even the issue in paying Naira denominated bonds that people want to break their heads over?. If there is no Naira, will CBN not simply print more Naira to settle people?.

Grupo:
Which one is floating income, please?

It is income that is not fixed now.

Yearly rental income is fixed income for that year but income from selling baskets of tomatoes even if it is on daily basis is not fixed.

ahiboilandgas:
if u are given 200m and told u should not invest in fixed income or Nse ...so that will be the end .....

No. That will not be the end. I will do 'floating income' instead.

Sholapey:
Thank you sir, about to stock up Zenith, Mtnn and Gtb. I'm still assessing my pick for the US stocks on Chaka.

Madam, i no go mind to be your Hand Bag Carrier aka PA o.

ahiboilandgas:
that why are dont mention them as successful investors and as a guide or mentors for up coming investor.....if i hit 2 billion naira from wrong Nigeria system and buy 500 m zenith shares 500 million gtb share ...and 500 mtn shares and 500 fixed income (at 11) ....tell me how will i become broke ......i cannot be use as a guiding principle to mentor people.....but if i invent Nairaland and sell it for 2 bn then invest it the above.....this can be used as mentorship

Whenever these people are asked how they made it, they will never tell you a straight forward answer. They will always start from where they became successful and say that they have been into business.

emmasoft:
VGIF is not like Tbills. There is no tenor. Investors keep it as long as they want. All interest is per annum. The six months is not tenor it's just a holding period. You are free to hold VGIF for any period base on your investment objectives. At anytime you start your investment, your interest is prorated for the period your capital is invested.

Example if one invest in VGIF this morning, you will get interest for 15th to 30th of June on your capital paid to you on1st of July cos payment is made 1st July and 1st January of each year.

At what time can i withdraw the funds if for instance iam no longer interested in the investment?.

Nnamz:
Make una dey use hard hand dey handle these tenants na. Do credit check on them. Get their work to sign papers that their job is permanent. Don't rent out to them if they do not have a 110% reliable job. Know how much they make. If possible, let their employer be their guarantor that they will never default on rent. DON'T JUST FILL UP YOUR HOUSE WITH JUST ANY TOM DICK HARRY FROM THE STREET. I think that's how I would play the game if I was renting out houses.

Some landlords or agents are very greedy. They put up a property at a high unreasonable amount which only attracts some shady charactters who will pay the high amount and after entry, paying subsequent rent becomes a fight.

Theconglomerate:
We don't have their kind of capacity and infrastructure to compete with them face off,that's why we are devaluing so we can sell our produce to our own people,not necessarily export and compete with the west in international markets.
Abi do you have $10B to use to open world class factory like Dangote?
Nigeria is a poor country where almost everyone is poor,so if we make imports expensive,that's the end of it.
Quality don't matter out here.
Jameson whiskey is overtaking the Nigeria market now because of cheap price.
Are you telling me Jameson has more quality than black label,Chivas regal,etc..?
Why are consumers switching to jameson then?
More Quality I guess

Na so i go supermarket with my pikin. She go carry Kellogg cornflakes wen be 1k and na two she wan buy. Meanwhile Infinity cornflakes wen be N700 dey there and na 2k dey my hand. I jejely told her to carry two packs of Infinity. I paid N1,400. Collect change of N600..subscribe N500 data. Logon into Nairaland dey narrate wetin happen. If na Kellogg i buy, na so 2k for just finish. How i for take subscribe for data and narrate the tory for Nairaland if na two packs of Kellogg i buy?. Afterall, cornflakes na cornflakes.

AMINDA:
Innoson is a vehicle assembly plant. He imports virtually all the essential parts of his vehicles. An astronomical rise in dollars will put Innoson out of business. Nigeria does not export anything substantial that can add to the country's foreign exchange for now. Is it agricultural produce or machines? If we do, what are the products and which nation are the buyers? So much "Container Economics" in here.

Devaluation will only help smugglers to make quick buck in the short term. Check what Lebanon is going through recently.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/06/11/middleeast/lebanon-economic-protests-intl/index.html

Does Toyota, Benz, Volvo, BMW, Rolls Royce, Boeing, Airbus, Ford manufacture all the parts?.

Theconglomerate:
My brother I tire.
Maybe Innoson is doing beautification project in Anambra.
Nigeria don't produce anything but has a GDP of $466B and the so called oil brings just $50B or there about.
So the real question is where is the $416B coming from since Nigeria is so unproductive asides oil

The $416B is coming from diaspora remittances.

Theconglomerate:
When they don't know something,they still won't keep shut.
Nigeria doesn't produce nothing
I'm guessing a truck assembly plant came to Nigeria to play.
Who do they think is buying all those brand new china trucks? Oil and gas firms I guess.
Must Nigeria manufacture planes and machinery before it is classified as productive?
I asked one the other day to mention some of the things that Nigeria imports asides machinery and technology that isn't produced here and the guy was dumbfounded.
Nigeria does not start and end in your apartment.
Go out,get a real business and educate yourself on how devaluation will benefit your business but nah...
They rather settle for less and buy 7% fixed income and be chanting how unproductive their Nigeria is and how Nigeria is going to go like Venezuela if it devalues .
Well the good thing is CBN is beginning to play ball and we'll see how it goes henceforth than empty bickering.

Innoson is expanding at a fast pace in order to meet demands and yet they say Nigeria is not producing anything.

emmaodet:
I keep hearing "what are we producing as nigerians" this statement is very insulting and it shows a lot of people are not really aware about their environment.
If you want to know more about producers we have in nigeria then join Business associations, Simple to meet them.
MAN - Manufacturer association of Nigeria
Abscon
Nasme
Nassi - Nigeria association of small scale industrialist (am in this group, Abeokuta chapter)
Naccima/Chamber of commerce
Amen - Association of micro entrepreneurs of nigeria
Smedan
Etc
You will marvel and be surprise by the sheer numbers of business men and entrepreneurs we have in nigeria.
Afan - All farmers association of Nigeria (am in this one too)
Register with Nepc - Nigeria Export promotion commission with just 12k and be an exporter even with small things like natural african honey and snails and earn dollars.
A lot of youths just want to sit at home and the govt should spoonfeed them with money and jobs.
To get a loan or government approved loans are very easy.
Join any of the above association because they work directly with government and cbn and all loans come through them like Nirsal loan, anchor borrowers scheme (this is still on going in our Nassi whatsapp group). etc
As at this January, i was at ogun state/federal meeting where they were begging us to take loans released by government through BOI, BOA, banks like sterling, zenith etc with there representatives there for Smes.
Getting capital or loan is not a problem if you have a good business plan etc
I applied for 10m this January but later pulled out but my colleagues got theirs after a 1-week compulsory cbn entrepreneurship seminar/class to brush us up.
I dropped out because i can raise that money from my salary so no need for it i learnt a lot from the class

I always laugh whenever i hear that we do not produce anything. Just few weeks of Covid-19 and the almighty America that these people make noise about upandan started fighting over common tissue paper wen dem dey take clean ny*sh. Small scale industries are producing a lot using local raw materials. Fabricators have since been fabricating simple local machines.

vacanci:
I am not saying or thinking the government will run away with the money.

What I am saying is, if government held ur money for 2 to 3 weeks after close of the offer and refund you there after, it means u must have lost interest that would have been generated within that period. Again, if u plan to invest in the June 17 FGN Bond and u are waiting for the refund from an unsuccessful sukuk bond, would you not miss another opportunity if your refund delays.

Bank interest in 50M for 2 to 3 weeks is over 100k

Every investment has an element of risk associated with it. Moreover, this is a primary offer. The issuer determines the timetable. You can however decide to sue the government for loss of interest.

Another easy thing you can do is to write to DMO to find out the cause of the delay and also threaten to sue them if your money with interest is not released immediately.

vacanci:
Thank you. The thing is, I have never seen such a news anywhere before. I am just curious how long government will hold someone's money before refunding considering that interests will not be paid. And also one needs to quickly reinvest the money

Relax. The government is not running away with your billions that you invested in the Sukuk bond.

mickky22:
Good day my Ogas
Please any information on SUKUK Bond?

Information on Sukuk bond cannot be hidden. Once the allotment is done, the government will make it known. It will be all over the media. So just relax. Your money cannot enter audio.

AMINDA:
Can you kindly name a country where devaluation worked as an economic model? The IMF and co who are the drivers of such policies never recommend it to themselves when in similar position, only to African and poorer south east Asian countries. When Italy and Greece faced financial crisis, the EU quickly bailed it with several billions of dollars but curiously, there was no recommendation for devaluation, subsidy removal and other conditionalities that comes with such loans when Africa is involved.

In 2016, the then President of the IMF, Christian Lagarde was in Nigeria to personally pressurize Buhari to devalue the naira, Buhari kept resisting until he could no longer resist anymore. The result? Immediately he devalued, Nigeria went into full scale recession. Why hasn't devaluation worked for countries like Zimbabwe and now Venezuela? At a point in Zimbabwe, it was cheaper to use the Zimbabwean dollar to plaster your house than to buy a bucket of paint. One piece of egg cost more than five thousand Zimbabwean dollars. Zimbabwe became the only country in history where everyone was a millionaire but still poorer than a church rat. I would leave you to research what Venezuela is currently going through.

Nigeria has been devaluing since the 1980s and apart of putting less money in our pockets and reducing our purchasing power, nothing has changed. It is one of the greatest weapon of neo-colonialists and it is only designed to make the poor countries poorer. Sad thing is they now sell some of these policies through our foreign trained sons and daughters in form of Ngozi Okonjo Iweala and co. People like Adesina of the AFDB who are pro Africa are blackmailed and removed from their spots when they do not conform. Open your eyes!

The same West that tells us to stop all forms of subsidy still provide subsidies to their farmers as seen in America and the EU. Excess products are sold to Africa at a rate where our local markets cannot compete.
Our solutions must come from within and must be locally tailored, not text book based! Devaluation has not and will never work in Nigeria, at least for now.

Shalom!

Not only this. The same West pays a stipend to unemployed citizens. Make education free from primary to secondary. During this Covid-19 lockdown, the West was giving stimulus cheques to their citizens with some paying to kids. Over here in Nigeria, there was nothing except palliatives of some few indomie packs to few people and transfer of 20k to audio beneficiaries.

Theconglomerate:
Taxes?How do you tax a people that aren't employed and don't own taxable businesses?

State sponsored agriculture?
The government has been trying to make the 4 Nigeria refineries work since kingdom come and you want to add another very complicated parastatal to it?
Isn't that creating and breeding another corruption engine?

Education?
Are Nigerians not educated?
The government have subsidised education enough for anyone that wants to learn na.

Policies that are small business friendly?
Everyone knows Nigeria is a small business haven where they completely don't pay taxes and aren't disturbed by social industries such as price control and other rubbish organisations,so what's your point?
Make government dey dash them money I suppose

Credit?
Is government suppose to provide credit for it's citizens?
I thought that was done by banks already
You want banks to be giving credit to unworthy people because they want to grow the economy?
I got stanbic bank ezcash 4m naira credit while seated on my couch eating pringles.
Does credit worthy Nigerians lack credit?
Even in America,their government don't have any hand in giving credit to its citizens.

So this is how you want to take Nigeria out of misery and boost it's economy I suppose

Eating pringles?. Is it foreign pringles imported with subsidized fx or locally produced pringles?.

Theconglomerate:
31 baskets ooo....

31 baskets and you are currently doing 2 baskets. Why then are you arguing that he cannot pay your salary?.

Theconglomerate:
But I don't do paid employment so what salary are you talking about?
How does someone who is on Irish government welfare program for asylum seekers pay anyone's salary for God's sake?
Have they increased welfare money from €322/month?

How many baskets of tomatoes will €322 buy?.