₦airaland Forum

olujaidi:
Perhaps the bank deemed you a high risk customer . I doubt that GTB is lending at that rate to all its customers sha.
Some customers will take it. Maybe because they don't know better.

It cannot be because of high risk. Before a bank sents you an information that you have been pre-qualified for a consumer loan, several parameters must have been used to arrive at the amount. A bank can do an analysis of her customer using several tools and get what it wants. Most times, a text is sent to the person or such appears in your Mobile App or Internet Banking. All you just do is click to apply if you are interested. You cannot increase the pre-qualified amount but you can reduce it. Such a loan is mostly short term and normally has a maximum tenor of 12 months.

mickky22:
Good day, my Ogas any information about SUKUK.

Thank you.

Wait till June 9, 2020.

ahiboilandgas:
it not becos they luv u but cbn crr debits zeniths was debited over 200 bn last months ....banks are forced to give consumer loan by the cbn policey not any marketing strategy...

Iam aware of the CBN policy. I have an account with GTB. GTB was the first bank to massively move into this consumer lending with an entry interest rate of 1.75% per month which was reduced to 1.33% this year. So i expected a bank coming out to compete should at least match their rate and not come out with a rate that is almost double that of the main player. I was wondering if the people in their strategy department were dense or is it as a result of being incompetent?. Since i lambasted the person that called me, the 1.6m they said i was qualified for has dropped to 100k.

Mumu people. What made them think i will take a consumer loan at twice what a tier-1 bank like GTB is offering?. BVN has made loan repayment to be easy as i can easily instruct GTB to take the monthly repayment from any bank that i have funds.

kintus:
Adjusted litre

Where 1litre is equivalent to 0.7litre¿¿¿

Una matter dey for God hand.

Ahib and madam Enyinne think say most people no know. Iam mindful where i buy fuel. There is a point that my car fuel gauge gets to that i go and buy fuel. I buy a certain amount and i know where the fuel gauge suppose reach after that. If the gauge no reach there, i no dey come back next time to buy from there.

awele186:
Una too argue sha. Let's go back to dropping investment advices and discussions

It is a discussion and not an argument. If you are not learning anything from it, just waka pass. You can drop your own investment advice.

ahiboilandgas:
that not competition...it called first entry advantage....u exploit the markets to recover the 250 million dollars license fees paid to Nigeria govt ...Glo needed a unique selling point to get market share or die ...how come they have now achieve stability in price uniformity..for data dont look at the amount but the kilo bit per seconds billing ....mtn has moved 150bn dollars out of Nigeria ....the investments have paid back and mtn can charge cost price now .....how come new players are not entering the markets again...?

So you think a new filling station just setting up will not do that?.

My bank called me and said that i have qualified for a consumer loan at a certain rate. I just laugh at the person that called me and ask her what made her think i will leave that of GTB that is 1.33% per month to take theirs that is almost double that. She now kept quiet. I asked her how they can be coming into the market newly to compete and start at almost double the interest rate of GTB and asked her if they are going to give me diamond or gold instead of Naira?.

ahiboilandgas:
they are not selling fuel but generating way bills...i sell 143 .....

You mean if i see a filling station then that displayed 144 and i enter to buy fuel, they will generate a waybill for me instead of selling the fuel to me at 144?.

Theconglomerate:
lol the union don tire money

Vulcanizers and barbers full the whole place. Vulcanizer or barber wen no gree go stay for shop all day without a customer. I go see if na union the barber wan take pay shop rent when rent expire.

Theconglomerate:
We have seen bigger businesses succumb to competition,let alone petrol station
I ask again,what will the unions do when filling station owners default?

With unions, i still barb my hair at old rate at my barber's shop and still patch my car tyre at old rate at my vulcanizers.

Theconglomerate:
This ipman,moman and co,what do they do for the filling stations?
Are they the ones who supply these stations?
If a station defaults in pricing,what will ipman do to the station?burn it?

When it was 145, i saw some filling stations displaying and selling at 144. Where were the so-called cartel union?.

ahiboilandgas:
The telcom industry was liberalized but after 20 years the call,data,text rate of mtn,glo and airtel ...all fall with same range ....mtn should charge 2 per minutes to all network....within 1 year glo will extinct....buy it fasle free markets....they all agree on average call price...

What was the cost of a line when they came in?. MTN said they cannot do per second billing but when GLO came in and did it, MTN quickly had to do it because they were loosing customers to GLO. So why did GLO not join the cartel and do per minute billing?. Price of data is now dropping. During the lockdown, i was buying Airtel of 6GB for 1,500 for a week. Airtel dropped it to that price. Airtel 4.5GB is presently N2000 for a month with generous data bonus. Once one network drops, others also drop in order to retain customers. I was surprised when 9Mobile called me last two weeks. They must have noticed that i have stopped using their data.

Theconglomerate:
Competition and individual reasons always drive prices down so long as prices have dropped from the source.
It's only a matter of time before it collapses and the petrol station union falls out of order..Everyone knows this.
They succeeded in hiking diesel prices this long because demand for it is low.
You can't have a fast moving commodity like petrol run under a cartel scheme,where everyone is looking for a piece of the action.
Unless the cartel is ready to spend good money to enforce this,I give it 9months and prices start falling apart
Will you people also stop the building of new filling stations?because this ones in their quest for customers will start selling low price

Gbam. Diesel is normally bought by bulk buyers and companies. How many people buy fuel of 50 litres but companies buy more than 50 litres of diesel to run office generators.

ahiboilandgas:
nnpc retail ltd control 17 percent market share ....they have about 36 station called mega 1 ....funny enough the remaining 300 are privately owned (affiliates)...so Ahib oil and gas will be selling in it station in Asokoro ...same Ahib oil and gas will be selling in wuse...under Nnpc franchise...All na me ......so i will dirvert Nnpc wuse allocations to my stations in Asokoro to sell at 130 (no queues).....while i sell at 121.5 in my nnpc franchises...using only 1 pump and 2 staffs ....and lond painful lines and disorganised......

Ok o. Let us wait and see how the deregulation will pan out.

ahiboilandgas:
if u can wait in the line for hours to buy from NNpc ...or 5 minutes in Ahib oil and gas for a difference of 5 naira....your choice your time...

NNPC filling stations are all over the place. This was what the FG had in mind when they started flooding the whole place with NNPC filling stations. Moreover, i buy fuel for my car once in a week. I can easily buy during the weekend. Moreover, once NNPC sees the queue, they will open more or take over dormant ones. If Ahib oil and gas that normally sells a trunk a day now sells a truck a week and NNPC comes with a buyout offer, you no go sell?.

ahiboilandgas:
petrol will soon fellow ....the evil marketers will transfix a price that can only go up and up ....but will take everlasting to come down....Nnpc stations will be having some goods sales in future

Once NNPC filing stations maintain a lower price, people will flock there thereby forcing others to reduce theirs. Why will i buy fuel at a higher price from other stations when NNPC filling stations that are all over the place are selling at a lower price?.

CsRockefeller:
Talk is cheap. Nigeria is the poverty capital of the world and many more negative stats.

I don't want to say much, those who can save should save.

Have you ever heard of 'Thrift Collectors' popularly called Baba Alajo in the South West?. Those you think fall into that poverty bracket save through them. Most are petty traders that display their goods in front of their 'face-me-i-face-you' compound. There are some that save N100 a day. Some N200 a day. Some N500 a day. Some N1000 a day. That is how they gradually build their capital for their petty trade and then progressively increase the amount they save and then upgrade to opening a savings account in the bank with a passbook.

Crazeworld:
Sir are those accounts also giving at least 10% per annum?

No. The interest rate fluctuates. That is why when the money became reasonable, i moved it to TB. I still have the option of money market funds(MMF) but i did not do that.

ojesymsym:
This is a far better father than the ones who think organising birthday parties are more important than investing in the future of their kids.

I hope the kid's money goes into a mutual fund that grows and not just a static account, that is when it will really have the power of compounding.

I used 10k so that people don't assume that they must have big money before they start. When you think of 10k per month and then 120k per year, the first temptation will be to ask "how many years person go save jo" until you really punch the numbers.

Maybe if it is presented in this way, more people will appreciate it, although I know that by the 6th year, many people will withdraw the money, that I am sure of.

The money is presently in TB. The TB is done once in a year and it matures every August/September. Whenever it matures, i add what has been accumulated to the principal and do another TB. Last year's TB was done at about 13%. The upfront interest is what i normally use to pay their first term school fees in secondary boarding school.

ojesymsym:
Jeez, it's crazy, that means if a man decide to start paying 10k into an investment every month with a 10% per annum as soon as a child is born, he can hand over 20 million to the child on his 30th birthday.

It is true now. I have told many people this but they do not believe.

Btw, i have a monthly standing order on my account for my two kids. The monthly transfer to their account has never failed because i ensure money leaves my account first at month end to theirs before anything. This has been on since the day they were born. One is 13+ now while the other is 11+. No need to mention the monthly amount but it is more than 10k monthly.

ojesymsym:
Just to ensure I am on same page with you. I am a strong advocate of produce in Nigeria, but the fact remains, Nigerians will rather adjust and go for imported products. You asked if rice was 30k and local rice was 16k, I tell you that many people to claim high social class will go for the foreign rice as long as it is available. That will mean importers will bring and adjust their price to the new rate.
Just like the phone seller just said, people will grumble but they will still buy it. Ever wondered why products produced in Aba have to carry international labels just to be able to sell them?

What if the money is not there?. Those that can afford the foreign rice at that high rate are few.

Btw, i use to buy foreign rice and share to people. When the price of foreign rice rose, they told me to buy local rice for them as that will ensure that it gets to so many people instead of the few that will share the foreign rice. Pikin wen dey hungry no know the difference between foreign and local rice.

ahiboilandgas:
no he will sell to ppra approved allocations to depots

I know that but these same depots are going to sell at govt controlled price or will they now close shop?.

When Dangote was about building his refinery, a journalist said he went to him to ask him how he intends to operate in an environment where govt fixes the price and pays subsidy. His simple response to the Journalist was that it was not his headache to bother about subsidy and that all he will do is to sell to govt and then govt worries about the subsidy that it is already paying on imported product. Wetin concern Dangote with govt fixing of prices?.

ahiboilandgas:
Once a price of commodity is announced by govt then markets are not free ....this has block the over 50 bn dollars investments that could have flowed in to Nigeria to set up refineries and create j
Badly need jobs

This was the excuse used over the years by the major players that made them not to build refineries. Dangote is now building. Is he not going to sell under the same price control regime?.

Theconglomerate:
See what speculation can cause.
Naira is currently appreciating today as we speak at this rate not because of anything but just because there are rumours circulating that Buhari is going to open borders and interstate today by 7pm.
How does this relate to fx?
Remember the CBN led by Emefiele said the moment the nation is open to international air travel,that it will provide fx liquidity for the people that need it for their various reasons which I know deep down Emefiele might be conducting a social experiment,which apparently is already yielding results.
No aboki is buying or will price your dollar very low as we speak because of panic.
If Buhari makes no announcement as speculated today,by wednesday expect pricing to start creeping up again.
This is how risky hedging with fx and foreign denominated investments can be in a volatile economy as Nigeria.
He who has ears....

PPPRA also announced a new pump price band of N121.50 to N123.50 for petrol today.

Precious44:
12k
13k
15k instagram account for sale

Whatsapp me:https:///2349054467378

(1) What is the interest rate of the instagram account?

(2) How is the coupon on the instagram account paid?.

(3) What is the tenor of the instagram account?.

odimbannamdi:
Very well said, sir. Relocating to Canada through PR is not even easy for the average Nigerian because you need to show POF of at least 3.5m within the last 6 months.

Most people who tow that route are quite well to do, so clearly, the financial rewards they "may" get in Canada is not the main attraction because they are already getting it in Nigeria.

The reason is: BETTER LIFE. Within the last 2 years, at least 4 senior staff on nearly 6m annual salary in my organization have relocated to Canada for the same reason.

Make God just pick person call...

I always say that 'for every relocation by somebody, a space is created for another to occupy'. How i wish these countries can take 20% of Nigerians so that those looking for jobs can take over the spaces.

otomatic:
Can do it or have done it?

Abeg download zenith iteller if you have an account with them.

This has been around for several years.

Some of these people in obodo oyibo think our banking systems are archaic. Soon, they will tell us that they do cardless ATM cash withdrawals in obodo oyibo and that it is not in Nigeria.

ahiboilandgas:
who told u almajiris are homeless? Almajir mean a student learning the Quran outside the state or family house ...it an ancient islamic techniques like a boading house used to train kids to read and write in arabic and memorize the quran..the techniques is ancients and cannot fit into mordern time ...the system has been abused by black Muslims in northern Nigeria ,mali ,niger and chad ....other progressive muslim countries have their almajiris schools like the monk school or seminary but kids are feed and not allow to beg....all the almajiris u see roaming have a particular tysanggya (school) and hostel (over crowed room) they retire to every night.....the study perid is with 8 -12 am then 4-6pm daily.....but how will a teachers have over a 1000 students under his care without resources or fees paid by parents ..this the problem...all real amajiris have parents in villages with hut houses

When my sister-in-law had this same almajiris being homeless thinking, i had to break it down to her the same way you have just broken it down here. I told her that just as she and her husband sent their kids to boarding house to learn, that is how these same kids were sent by their parents to boarding house to learn the Quran and that the only difference is that they are paying while the parents of those kids are not paying. So they have to fed for themselves by begging in order not to starve while in the boarding house and that if she and her husband were not paying for their kids in boarding house, her kids will have no option than to beg to survive.

Barrytone:
I visited UK 2016, I saw people being house in a makeshift canopy by roadsides. We don't have that here. The weather here even encourages us to sleep out door but we don't because we want to copy the white man. In UK at 8°C and less and people are outside. To be sincere, its worst there but since they control the media, you wouldn't see it until you visit. Yes, like every geographical location all points can't be the same. Banana island is better than some spots in UK and USA, some ghetto are lawless over there. If you live in the Nigerian gheto, don't generalize Nigeria as being a gheto. Yes, we are not there yet but nowhere in the universe has arrive its destination. We keep upgrading every day. This countries you compare with Nigeria are over 200 years old. Go back when they where just 50 years old and compare with Nigeria and see us better than them. Am a proud Nigerian, and believe we will get there. All my money and investment is in naira because I believe it will get better and we have better opportunity here. Bottom line, you can still be very poor overseas, some are actually very poor over there and you can be very rich in naija, many are very rich down here. A market of 200m, produce any item and sell to only 10m daily at 10 naira. Complaining of power and good roads is as a result of your poor management skills. Your selling price is a result of all those things put together. People buy ostentatious goods, why? Its somebody's job to make you buy thinks at a very high price against its worth and we Nigerians are good at that. So don't tell me your price is higher than imported. Someone mentioned here few days ago how he bought local shirts at exorbitant rate more than imported but there didn't last. That's wrong, make your product stand the taste of time and people will buy at any price just like we buy Gucci just for the name. If I no like naija, where I go like? Do they over love us? As a jobless youth, my family tried shipping abroad for masters and I declined and I still don't regret it às my guys that went for that masters are still not where I am. Naija is king, if you are chicken heart and can't survive it, just say so but note that nowhere is safe. Nnams despite quoting you, am not referring to you please. Thanks for understanding. Just been driven by my love for this useless country but its all av gat

I normally tell people that paint UK good and Nigeria bad that when i was in school, i read a book called 'Oliver Twist' and in it, Oliver Twist was beaten for asking for more and that that book was not written about life in Nigeria.

One of my favourites Majek Fashek songs is 'Majek Fashek in New York'.

Sholapey:
Ireland is a very peaceful country and very accommodating to professionals regardless of your nationality.

I hope it is not as cold as Scotland?.

ahiboilandgas:
at 98 to be carrying oxygen up and down ( u are already dead )...abba kayri was on live supports for days and buhari can choose to keep him that way till 2023....once your natural body cant perform certain functions is called u are clinically dead..even if u survive oyinbo children will dump your in old people home....bill msut be paid ..

98 years old carrying oxygen about to stay alive. Is he targeting the age of Methuselah?.

emmanuelewumi:
Some speculators have not been able to break even from the losses they suffered about 2 years ago

Are they trying to catch a falling knife as we normally say in stock investments when somebody is trying to average down on a falling stock.

GonFreecss1:
Thanks for this post. It was last year and last 2 years we had this argument with some people here. There were some “experts” with all sorts of theories here. Where are they now? 460 naira to a dollar later, they are nowhere to be found.

I kept saying insanity is doing the same thing over and over again and expecting different results.

Did anybody in the world predict Covid-19 then?.