₦airaland Forum

zamirikpo:
Am sure she doesnt have the authority to accept or decline bids, the right thing will always be done by the right people. Her own is to send customers request.

As a customer I have the right to place a bid at any amount with the intention of crediting my account to the tone of the bid figure before auction day.

Like I said initially , let's see how it goes, u r taking it too seriously.

And you think the bank does not know that customer will want to or do this in order to game the system?. Why do you think the bank does not allow you to make a bid when you have the intention of covering it up with the expected upfront interest?. For instance, you have 900k in your account but you want to place a bid of 1m so that when it succeeds, the upfront interest of 100k for example would have covered it to the 1m.

zamirikpo:
She knows me nah. And she knows I don't have that amount even without checking.

Desperate times calls for desperate measures.

Is what she is doing not wrong and against the rules and regulations of the Bank?. Stanbic is not the normal and average Nigeria Bank. If this is discovered, i hope you will bail her out if she is fired?. What she is doing is fraudulent.

J111333:
This is personal so please be courteous with your comments.

I have a married female cousin who takes church serious more than her life, well I don't wanna waste your time with that part of the story.

I have tried to help her husband and her financially for a long time now and I'm afraid I've turned from helper to head of household, not funny. I jokingly told them to hang their boots after they had their fourth child but as I'm typing this, baby five just landed.

Their first son just got admitted into Unilag and guess who they called to help. I've severally decided to stop helping but thoughts of those lovely kids of theirs have always affected my decisions.

I told the newly college admitted boy to open a bank account so that I can channel my help properly but her mum said he wasn't 18 yet so she would be the one running the account until then.

A little background story.

My cousin is a graduate but helps her husband in an imaginary business of his which I have put in like N10m if not more yet nothing to show for it. I later switched to helping my cousin get a job, she ended up getting duped of the money meant to pursue the job Nigerianly.

She was/is my favourite cousin growing up and she was more than a nanny to my sister and I when we were little.

How can I put an end to this madness without feeling guilty about the kids? Mind you, I love their kids very much.

Your cousin and her husband have taken you to be their ATM. They will never be serious in as far as you are there to always dole out the cash.

I know of a case like this. The woman's sister has two kids and was doing well with her husband. Her sister was doing nothing with her husband. They were just birthing kids saying that God said 'go ye and multiply'. They had four kids with the husband being unemployed. The sister too was not doing anything. The sister decided to take one kid off them and used her connections to get one into a boarding school and also was footing the bill in order to lessen the burden on them. The sister and her husband saw it as an opportunity to birth another child as they said God said 'Go ye and multiply'. This got her annoyed that she returned the child she took to them and also stopped paying for the one in school. That was when their eyes were opened. The husband started running all over the place since to feed became a problem and no free money was coming again from his sister-in-law. The sister husband is now working and leaves the house very early Monday to Friday and come back late.

"Na person wen chop belleful and sit down for house all day long dey get energy to dey hammer woman all day".

They have not given birth to another kid for close to five years now. Man no dey stay for house again. Woman no dey stay for house again. Woman dey manage one small teaching job that the pay is not even regular.

OgogoroFreak:
Well, maybe you didn't get the message in my reply to that poster.

I was only trying to let him know how easy it is to build a forum like nairaland.

I'm a software developer myself and yes there are lots of script and snippets out there if you don't want to build from scratch. I mean, why reinvent the wheel?

Grupo:
No wonder you drink too much ogogoro.

No mind the ogogoro guy. Iam one too but i drink akpeteshi

zamirikpo:
AM at stanbic now and I just told my account officer to place a bid for 65m. When the actual amount in my account is 6.5m.

Let's see how it goes. Let them prorated at 10% am waiting.

WE DIE here.

How is this possible in Stanbic?. I know Stanbic normally place a hold on the amount you bid pending when the auction is done. So will the bank place a hold of 65m or 6.5m on your account?.

ukay2:
My oga FGN Bonds do not in any where seem to be any legal 419 investment.
Rather it's your lack of understanding that is confusing you.
I have tried severally to explain to you .....but am sorry u still did not understand bond market calculation.

Maybe just try and invest 10k in 3 year bond and hold till maturity it will become clear to you.

I have FGN Bonds that have matured and still maturing in FEB 2020, APRIL 2037.
I have never loose my capital......rather keep getting the coupon payments at the said payment date.

Just hold till maturity....no capital will be loss or sell below the bond offer price before maturity and still make more money from it.
You will only loose some part of your capital when you sell before maturity at offer price above what you initially bought the bond.

Am talking from a practical point as bond investor that has hold till maturity.


Example

I have 12k to buy fgn bond for April 2037 at 16% coupon payments till maturity and I bought the bond for 12% from secondary market. That my 12k may bought me 10k what of the FGN bond since am buying it at 12% instead of the 16%.....meaning the person I bought it from has made 2k from me since his selling at a lower percentage which is 12% if he bought it at 16% from FGN from primary market. .....which I told you earlier that most bonds at primary market are not even sell at that 16% rather below that percentage.

Then I will be getting 16% of 10k bond for 17 years from FGN ...which is N1,600 every year for 17 years which is maturity date ......the FGN will be paying me N800 every 6 months till maturity.


For me after 3 coupon payments. ...which is N2,400....I have recovered the 2k I used to overpay for the bond

So the remaining N1, 600 x 15 years are my gain I hold till maturity (which is N24,000) and at maturity, my 10k I used to buy the bond will be repaid to my account so I have 24k+10k=34k in total.

If I start re-investing every coupon I get to buy the same 17year bond....my coupon payments will keep on increasing. ....you know compound interest.....you can calculate it yourself and know what that compound interest will be ...

If I even want to sell that FGN Bonds 2037 like by 2025 at 9%(below my purchase price of 12%), I will make more money from it because the person buying it from me will pay more to buy that remains bond from me..

If I decide to resale it by 2025 at 15% (above my purchase price of 12%), I will loose some funds from my initial capital.

But for me....like in my NTB investment. ...I hold all till maturity

Don't forget that the only charge your bank will get to help you purchase the bond like the NTB purchase too is (like my bank. ..stanbic. ...N300 for custodian fee + 0.05% of the nominal value of the bond like the example I gave 10k x the number of years of the bond.

I will advise people to buy the FGN Bonds via banks that will charge you 0.05% of your nominal value of the bond. ...because some investment houses charge as high as 0.5 or 1% which maybe too high


I just hope this explanation make sense to you and others so that the issue of bond calculation will be put to rest in this forum.


As NTB interest is low now and many NTB investor are looking for alternative investments, some investment houses or banks or people may even confuse you the more.

NSE is another place u can purchase your dividend paying stocks if you have a high risk appetite like me and others in this forum.

Just be guided in your investments

And may God help us not to be too greedy to loose more funds in time like this. Amen.

As I always say.....SLOW AND STEADY INVESTMENTS WIN THE RACE.

Gbam. This is also my guiding principle.

emmanuelewumi:
Except the woman bought 30 days Treasury Bills from the secondary market

Quite true but the 20% cannot be true. Moreover, iam sure they will be thinking that the 10% or 20% is flat instead of per annum. So many people make this mistake.

Perra:
A woman in my estate explained treasury bill to my family and we piked interest in it. Haven't started investing yet but hope to .

Please house, this is what she explained: she said if you put a certain amount of money in the bank( CBN) ...every month you get 20%..or 10% of that money .

Intact she said she doesn't even work as she invested 200million and gets up to 50 million yearly.


Is this what treasury bill is
Please can someone explain in a very simple A B C type of language
I tried reading this post but honestly I don't understand anything .


Plsss someone explain ......in a simple way. Thank you.

Not true. Money given to CBN does not yield interest every month. TB interest is paid once and at the beginning of the investment. At the end of the investment, you only get your initial money back.

OgogoroFreak:
Yes, I understand but I was referring to your inaccurate breakdown. They certainly need more hairs to barb than in your breakdown to achieve the said amount.

My breakdown was based on the delivery amount and not on the gross amount to be made. I have been barbing with a particular barber for more than 10 years. I normally go early on Saturdays because so many people come there. Sometimes if i go there by 9am, i will meet about 3 people already waiting. Money made on a weekend can easily cover the weekly running expenses. Light is a bit constant in my neigbourhood because of prepaid meters.

ahiboilandgas:
smart guy,your brain dey work well ....that how it is ....they have 2 barbers....like me I use 1.600 monthly to barb so if they get 100 of us to cut hair na 160k be that (in random Neigbour)of 10000 middle class Nigerians

I dey learn from you o. Your business and investment insights on this thread has opened my eyes and iam grateful for the information you freely give.

OgogoroFreak:
His generator runs on water?


Interesting...

No. The 10k @ahiboilandgas mentioned is the delivery amount. I believe the business model and strategy is that the business owner gets 10k per week while the barber manages the shop and take care of the expenses. So even if the barber makes 20k in a week, it does not concern the owner in as far as his/her 10k is delivered. I like the model and strategy if this is what it is. The barber is not being paid any salary. It is like 'run the shop and pay me 10k weekly'. There are people that barb their hair weekly. When my kids are going back to school, i spend 800 for three of us. This is already close to the average 5 people to be barb in a day.

ahiboilandgas:
...i chap I know I tried introducing him to t.b but he refused cos he rate where too low ...he has a barbing salon (not sure if total investment reach 400 k) he baber remits 10k weekly,this chap used same strategy to open 4 additional and use indirect managment frame work....he only pays for the shop (80k) The equipments....5 shops x 10000 k weekly =50000 k the entire investment will not be up to 2.5m ....the shops have been around since 2013...he also a state govt worker ....an investor should not just closed his mind and be at the mercy of emefele

10k a week comes to about 1,400 (10,000/7) a day. Adult charge is N400 while kids is N200. Using an average of N300 per person barbed gives about 5 (1,400/300) people barbed in a day. Really interesting.

zamirikpo:
Boss thank u jare.....u can imagine how people reason with their kidneys.....

Dumb skulls.....how does watching zeeworld equate with being empty. So Bill gates does not watch Netflix ni...

I hope iam not termed or equated as wild since na NatGeoWild i dey watch all the time?.

vexing:
You are absolutely right. It is actually November 14, 2019 and I have been thinking it was November 11 all these while. Thanks bro.

I hope say you never do shakara for your landlord in anticipation of November 11?.

.

zamirikpo:
I wanted to ask same question. I thought pefis paid when u transport across regions.

Then my oga , can u really sell 60000lires a day..
Where is it located.

60,000 litres at an average of 50 litres being bought gives 1,200 vehicles. Can a filling station really sell to 1,200 vehicles a day?.

ahiboilandgas:
no......u need only 100 litres to deliver within Lagos so 133. Ex depot price +2 naira loading and transport = landing cost 135 ....sale price 145 margin 10 ....nb must of the 50 m litre is consump in Lagos...high turn over for lagos station and no space to build new ...among top selling is forte oil awolowo rd ikoyi and Mobil by federal place and Hayden in lekki ....this are money minting machine

Wa o. Surprising. I normally look down on that filling station as i see it as small.

ahiboilandgas:
we will be selling at 143 , we will buy at 133.5 .petrolium equilazation fund pays the transport rate...example if we sell 60000 litres per day (pef ) pays 60000 ×19.05 at claims = around 1.2 m , then we use like 7 naira x 60000 at cost of transporting ( deseal expense) it will land at 140 to the station our profit on the product will be 4 naira x60000 litres (240k ) daily this sum will be used to pay salary and ober head ....then the subsidy the govt pays 19.05 x 60000.=1.2m will be profits

For a filling station in Lagos for instance and product is transported from the same Lagos to the station, will PEF pay the transport rate?.

ahiboilandgas:
Me and my guys ( same bussiness of logistic) plan to build the station 4 years ago we 10 of us agreed to be contributing 4 m annually for 5 years ( crowding funding ) other contributing more ,other less this is reflected in the share structure and ownership ..now it came to reality.non of us could ordinary dare it built it alone ....me was using my interest for bond and tb to contribute...it made me under why the white man created the capital markets ,he understand clearly in capitalism,capital is the most import item to materialise an idea ....so firm can raise money via capital market...like wise crowd funding can also help establish a bussiness....the place restaurant lekki also have similar kind of capital structure

Nice one but with the falling margins in PMS, what plans do you guys have to break even in the shortest possible time?.

GAZZUZZ:
Try this place

Gazzuzz Autos

2c Awe St, Ifako-Ijaiye, Lagos
0803 391 0382 https://g.co/kgs/6EFqH6

I fit pay a whole Gazzuz charges so?.

Is Ifako-Ijaiye not along Lagos-Abeokuta expressway?.

Goodday everybody.

Please i need help on the amount range and the auto workshop that can fix the issues in this attachment. It is for a Toyota Corolla 2007 model (Bank type).

igbizen:
I love every bit of this write-up. A friends company today gives loans to staff every four years to purchase cars, but staff rather invest it and manage their old cars. So is that illegal?

That is a big loophole created by your friend's company. Was it intentionally done?. Companies buy cars and give to staff and not give money to staff to go and buy cars. These days, if you are a salary earner and work in a Company, you approach a financial institution for Asset Acquisition financing.

Barrytone:
Sorry sir, na affidavit i dey use, comprehension failed me. Was thinking u said 10m can't get a shop.

zamirikpo:
Imagine comparism ......ur village (200people) vs ochanja (onitsha the biggest market in west africa).

How did u graduate...

You self. Person don already talk say na affidavit he dey use, you still dey ask how he take graduate.

LadySarah:
For tithe;Im still studying My bible.
Close eyes and buy ur food in bulk.It saves You so much money.
Buy beverages in rolls instead of Tins.


pls since All are in school,Madam needs to Go and work;menialjobs,housekeeping etc.She can earn and also raise money for a biz.

You are a Good man.pls cancel anything childbearing.

In Nigeria, most people think some jobs are beneath them. I know of a family that is living from hand to mouth with the wife not really working but the wife thinks it is beneath her to go and do 'errand' job for a comfortable woman that wants that service in the name of 'why should i go to market for that small girl wen i senior'. What does the 'errand' job entails?. Collect list from her and money. Go to market and purchase what she wants and you get paid for the service. There is even compound sweeping or cleaning flats for people that are too busy to do it.

ambient:
[b]For the milk and milo try buying it in roll, [/b]i hardly buy tin milk in my house i buy two rolls of milk and chocolate it will save you money.

Better. It curtails the quantity the kids scoop as they can no longer scoop from the can. There is now 3-in-1 which comes handy.

Breaststroke:
I would say leave your tithe to God alone, it is (for me) one way to honour and thank Him for blessing/giving us what we have in the first place. He is the giver of the gift, do not start to like or cherish the gift more than the giver.

Secondly, our tithes/offering are meant to help the poor, needy and less privileged in our churches as well as further the work of God's kingdom on earth.

Even if our churches have failed or are failing to do the above, we shouldn't fail as true believers to do good, do right and do well by God. He doesn't need our money to bless us or still love us, but I think it honours/pleases him when we respond to Him in little ways like this.

You can still help the poor, needy and less privileged in your own way if you choose to, but I have seen the good work my home church does through outreach ministries to prisons, to children of fathers in prison, widows, orphans etc and I appreciate what we are able to do together as the people of God, more people are helped when we pool resources together rather than trying to do stuff on our own as one person.

I struggled with paying my tithes/offering to my church at one point but when I saw video evidence and heard testimonies of lives touched, helped and transformed it brought tears to my eyes and it gingered me to continue giving because others benefit from our collective effort.

A lady I know rarely struggles with paying her bills. She's a single mother raising her child by herself, she always has her son's school fees on time, house rent on time (even her landlord said I have never had a tenant like you ) does international travel frequently etc. Pls note she is not working with a multinational or doing sugar daddy runs to survive, when I asked her how she is able to stay on top of these bills, she pointed me to scripture, the part where it says in particular that the devourer will not devour you if you honour God with your resources.

Sorry this got longer than I intended but I like to share true life stories when it comes to God to encourage and build others up.

Stories for the gods. Tell us her salary so that we can analyse. Never knew that manna now falls from heaven. Please point us to where to get this manna so that everybody in Nigeria can go and pick it.

sisisioge:
Oh my! You have 3 kids with that income and still spend 15,500 on church monthly? Please it's been established that tithing is not by force.

Also, there are some white buses at Baale in iyana oworo that charge about 200 to VI. Please try them.

It is very well.

His transportation is already cheap. At 8000 for a month and working from Mon-Fri and using 20 working days, that comes to 400 daily which is 200 to/fro. So the transport cost is reasonable. Was even surprised that it is that cheap to VI.

Instinged:
Here is my monthly expenditure every month for every year.
I hardly meet up so i end up taking loans, so i want to know if am
the one over spending or how..
I seems not to understand myself, salary will be paid in few days
and i cant even meet up with some of these expenses.
I have FIVE(5) major places my money goes to
1. FOOD 2. TRANSPORTATION 3. CHURCH 4. SCHOOL 5. HOUSE

SALARY/INCOME PER MONTH
100,000
EXPENDITURE BY DEFAULT
120,000

EXPENDITURE PER MONTH

1. FOOD;

RICE 8000
BEANS 3000
SPAG 1000
SEMO 1500
YAM 3000
P. WATER 2000
SOUP 12OOO
BREAD 2000
TOOTHPASTE 350
WSHING SOAP/OMO 1500
BATHING SOAP 2000

2. TRANSPORTATION
OWORO SHOKI TO VI (MON-FRI) 8000
CHURCH 1000
OTHERS(VISITATION) 2000

3. CHURCH
TITHE 10,000
OFFERING 2500
OTHERS( CHURCH DEV) 3000

4. SCHOOL
FEES FOR 3KIDS 22500 PER MONTH
BISCUIT 2000 CARTON
MILK/MILO 4000
INDOMIE 3000
JUICE 2000

5. HOUSE
RENT 21000 PER MONTH
NEPA 3000
GoTv 2000



Thank You

The bold is already about 15%. Well, there are people that believe so much in paying tithe. As for me, i cannot pay tithe when i have not been able to save.

I want to believe that your kids are still in Primary school. Wait until they start entering Secondary school. Your borrowing will be on another level. You better start saving before they enter Secondary otherwise you will not be able to feed well not to talk of saving.

There is what they call 'paying yourself first before any other thing'.

adonisechi:
Greetings Nairalanders!
I'm a regular visitor on this forum and never felt a need to open an account since my 4 years of frequenting here. At least I just did today; and that is because something has been troubling my mind. I just thought it wise to seek advice from all kinds of people over here; warts and all.
Forgive the typos, my tenses and all.
I'm presently in my 3rd year in an Eastern University studying Statistics. I took JAMB 3 times applying for medicine and later got Statistics. Out of boredom I decided to go for it because I was so tired of staying at home then and was desperately eager to leave home. Mathematics was my worst subject in secondary school; I was one of the best in all other subjects but that tedium of having to stay at home for another year should I decide to ignore the admission didn't allow me to analyse the situation critically. Left home, even as some relatives never supported that decision because I wasn't known as someone who could process numbers easily but words. To cut the long story short, first year wad awesome. Second year's result took me off balance and I saw myself in 22.
3rd year's first semester result just came out and my God! out of 6 courses I failed 4; passed two with Ds.
Can't blame this on lack of preparation. In fact, I've never prepared for an exam in my life like the way I did for that exam but I still failed woefully. Truth is no matter how hard I read I just can't understand numbers and calculationd but words are easy got me to comprehend.
As we speak I just don't have the courage to go for classes; I sunk into a deep depression ever since the notice board told mr that tragic story!
I'm on the horns of a dilemma; I'm thinking of writing another JAMB and applying for medicine which I'm sure I can get it this time around or to stay here and try to come out with a Second class lower. I failed a prerequisite course which means I just got myself an extra year.
Sorry for the long epistle but I really need advice from you all!
Once again, please ignore the typos, bad grammar and wrong punctuation. I just had to type this asap
I look forward to reading your comments with regards to my plight.
Thank you

The lack of career Guidance and Counseling officers in secondary schools is the cause of this. I was not good in reading subjects but very good in mathematical subjects. I was being pushed to go and read a reading course in university but the Guidance and Counseling officer in my school then changed all that. The woman help and saved many of us then that were confused on the courses to choose. There was no internet penetration then to even do a search or do a research.

You delayed in taking the decision you want to take now. A course in the medical or biological sciences would have been the best then. Find out if you can do a departmental or faculty transfer to the medical or Biological sciences so that when you complete that, you can use it to go for Medicine.

Sackyjewel:
Please I invested 10mil in tbills with first bank on 23rd of last month, the exact 10mill was debited and no interest paid to my account yet. Is this possible or is an error from the bank.

Did you tick that you want the interest to be re-invested?. First Bank normally do that based on the experiences of people here that have used them.

Get to the branch and get the details of what they have done. If the interest was re-invested, then you can only get your Principal of 10m plus the interest at maturity.

Grupo:
Why you wan resurrect old argument to cause quarrel?

Why are you surprised?. She is most active in the politics, crime and celebrities sections where irrelevant round and round arguments take place.

You know some people do not read to get the flow of a discussion before jumping in to comnent. They just jump in, make a comment on one post and jump out.

Btw, the word 'most' was used in the original post and you know English comprehension can be very tricky to comprehend espercially with our current standard of education.

Anyway, back to learning mode on the very enriching N10m vs USD 28k lively and highly educating discussion.