₦airaland Forum

barapistis:
Jupeb

He will be 16 by next year

September joining them at 200 levels

Only below average Nigerians and those with less knowledge do jamb or utme

The rich don't waste their lives on this

Does JUPEB guarantee automatic entry into 200 level espercially for the competitive courses?.

Afamed:
But there is a stipulated age requirement before admission in every University or you are not aware of this?
Even in US, they have age requirement before you can be admitted either in College/ University. Don't always expose your ignorance on social media

Do not mind the OP. They will not read prospectus nor read admission requirements. Any little thing, they rush to social media. When they say that a child should be minimum of 10 years before entering secondary school, they will ignore and claim that the child is a genius and got double promotion in primary school and that was why the child was sent to secondary at age 8 or 9. I have a staff working in my organization that the parents rushed through secondary and finished at 14 years. The child now had to wait for 2 years at home before entering university and i wonder what was the essence of the rush in the first place?.

Anyway, the OP should send the child to a private university as most of them do not have age restriction.

emmanuelewumi:
What is your name on SMN?

I no fit talk am for here o. Nairaland is not a closed forum as SMN. Na hide i dey hide for this place o. I no want make the likes of Octopus, Oga Wanaj0, sister Mercy and others know say na me.

emmanuelewumi:
FUGAZ,


First bank, UBA, GTB, access bank and Zenith Bank, control over 70% of the transactions and profitability in the Nigerian banking sector.

The following tier 2 banks Stanbic IBTC, Fcmb and Fidelity are worthy of consideration.

Nigerian banks have mastered the art and science of making money in Nigeria and some are now making money in Africa. They make money whether the country is in recession or not.

I will advise you tread gently with Access, until you get the audited half year financial report, I want to believe a lot of toxic debts were inherited from diamond bank.

needful:
Apt. U nailed it sir, even though I reserved those banks u mentioned, to see if it will be mentioned in your statement but u still mention them. It shows u are simply the master of this game. Thumbs up sir.

Pa Ewumi aka baba Landlord (as we dey call am for our other stock market forum those days) na Oga o. Was always happy to read his posts then. Iam not much into stocks now as iam presently rebuilding. I will advise you listen to what he says always. One of my secondary school classmates said that if he had known what he knew now about financial education, he would have long since retired to one island in the Caribbean and said that he has already started early with his kids.

ositadima1:
I never knew there are landed properties worth millions of dollars in Owerri, I learn every day o.

Do you know what it is to have a property close to one of the statues Rochas built?.

Ugo04:
Good afternoon, please i made an investment of 2 million from Zenith bank on Tbills for 91daysand i got a commission of #44876.
From my calculations 0.0974 for 91days is supposed to yield a profit of 194800.
Pls what's wrong? I'm very angry right now or it seems i don't understand how the calculation is being made.

The bank is right and you are wrong. Interest Rate is quoted per annum. So divide your 194800 by 4 since your investment is for 91 days(a quarter).

In the alternative, use this Simple Interest formula for all your subsequent calculations:

I = ( P*T*R) /(365 * 100)

Where:

I = Interest Earned

P = Principal

T = Time/Tenor

R = Rate in percentage

Therefore,

P = 2,000,000
T = 91
R = 9.97

I = ( 2,000,000 * 91 * 9.74 ) / (365 * 100) = 48,566.57 (before charges and fees)

Acidosis:
Wow. 5-6% per month is on the high side

Not their fault. There is no collateral and no salary account domiciled with them. So they are taking a greater risk. Moreover, the banks refused to do consumer lending like salary advance or personal loan even when your salary has been paid to them for close to 10 years.

Bamz:
I think you must have credit worthiness to access GT quick loan oh.

If your salary account is domiciled with them, it is easy. A colleague uses them because his salary account is domiciled with them. I could not get from my bank because they were giving some conditions that where i worked has to be profiled and approved by them before the staff can get any loan. It was so annoying. Meanwhile, this same bank was chasing me with Credit Card which i refused to collect.

Acidosis:
1.75% interest on a loan of N1.2m (12 months plan) means a monthly repayment of N100,000 + N7500 interest for 12 months.

Seriously, this is the best deal I've seen anywhere in Nigeria (excluding Cooperative societies).

It is a good deal. I intentionally tried one of these QuickCredit films. The lady that responded refused to give me their interest rate but doing a simulation on their website, i was able to have an idea of the interest rate. It was between 5-6% per month.

Acidosis:
These banks have come again with their usual disgust for competition and late entry into trendy stuff.

GTBank is now offering loans (10k-5M) at 1.75% monthly interest rate!

Repayable in 6-12 equal monthly installments.

These guys would eventually kill RenMoney and the likes.

https://www.gtbank.com/personal-banking/loans/all-loans/quick-credit?utm_source=Linkedin&utm_medium=banner&utm_campaign=Quick%20Credit#nav-menu

We should expect an app soon to contest with Piggybank, and other FINTECHS.

This is what banks were supposed to do in the first place but instead they sat in their offices collecting free income from COT(Account Maintenance Charge) from current accounts. Now that most people have closed their current accounts and move to Savings accounts, that free income has dropped drastically. People have moved because with eChannels and Cashless, you can now do anything from Savings account. Moreover, dividend is now directly credited through eDividend mandate.

Consumer lending is a big income generating business. The banks went to sleep and that was why the likes of Renmoney moved in. I once told a banker that if a bank makes 10k as interest through consumer lending from 1million customers in a year, the bank will net N10Billion income without sweat. This is easily achievable due to our population and our high consumption levels. The rate of default in consumer lending is low because it is normally tied to the salary of the borrower.

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wanaj0:
Eku market. How are the guru's enjoying the bloodbath on Custom street.

Seems many 'forecasters' are around now.

NSE collected tuition yet?


ANY way, CONGRATS on the impending Wealth Transfer

Oga Wanaj0, i dey greet o. Iam still loyal. Na me from the other stock market forum of yester years.

missjekyll:
I think I just lost 2 points off my IQ from this unbelievably childish exchange of words.

Wetin de pain me na say the yab sef no make sense at all. The last time I heard this was in primary school,I kid you not. Mtchew

#i am very angry at all this.

Abeg wey all the great minds here? Let's discuss business and leave these children alone.

Whenever i see all these, i dey run go hide o as e be say my late Papa na palmwine tapper. Where palmwine tapper wan see thousands not to talk of millions and then billions.

HeliosHay:
Can you imagine!

I won't tolerate such nonsense in my house. Whether the rent is paid or not I'll serve the tenant notice to vacate my house asap. What rubbish

Three(3) months rent arrears = fainting slap.

Quit Notice = ?

igbizen:
Personally, I don’t think rental property is a regret. I have 30m upstair bringing 1M yearly, despite the fact that I occupy one of the flat. “One old man once said that house is not an investment, but you will regret it if you don’t have one after retirement. With the house I feel very confident investing my salary.

See the bold and italicized and the emphasis on 'after retirement'. I do not think this 'after retirement' is really it because if you use Lagos as an example, rents are paid in bulk annually. Most people are not disciplined enough to be spending it on an amortized monthly basis. Once it comes, everybody knows yearly rent has come and people will start bringing their problems for you to help solve. Even if you want to be collecting rent on a monthly basis, tenants will give you HBP before you get it. Tenants will be giving you excuses left, right and centre of no money whereas the tenant will be doing parties and buying aso-ebi all over the place.

Pascopele:
People dey nairaland, Make I comment my reserve

You better uncomment your reserve because after breakfast, i don enter MacKenzie Tuttle oda room. We wan begin play monopoly in order to determine the best way to invest and spend her $35Bilion settlement by Jeff Bezos.

Meanwhile, i dey come make i go hustle for September skool fiss(school fees).

Grupo:
You should try comedy bro.

You are right. He should try comedy.

If Jeff Bezos is his friend, iam about to have breakfast with MacKenzie Tuttle, the ex-wife of Jeff Bezos who recently agreed a $35Billion in divorce settlement with Jeff Bezos. After the breakfast, anything fit happen sha.

ositadima1:
Have you heard about Oraifite in Anambra state before, that is my village. 4 billion naira they learn.

ositadima1:
You are quoting me out of context. Jeff Bezos, CEO of Amazon world wide, who is also my close friend, is number 2 in the world. But, I don't need to mention it here just to feel good about my self.

Iam not. Iam assuming that if a village has people to the extent that those from the village that have N4Billion are called learners in money making then it means such a village must be the best place on Earth to live in. Anyway, maybe the people in the village make such and spend it elsewhere and only come there during festival period to show off and drive their Ferrari, Lambogini etc on dilapidated roads and then go back to obodo oyibo that is really the 'heaven on earth'.

Oga, there has to be a correlation. What is the essence of having several billionaires and the place is not worthy for tourist to visit?. When you go to Bervely hills for instance, you will know that the people there are not learners.

ositadima1:
Have you heard about Oraifite in Anambra state before, that is my village. 4 billion naira they learn.

Is the place 'heaven on earth' with all the billionaires there that is making a person with N4billion a learner?. If actually there are non learner billionaires there, by now it would have been on the Guinness book of records with tourists flocking there from all over the world to see the wonders of the billions.

ositadima1:
That is just under 11 million dollars, even your Papa they learn.

4Billion Naira and you say he Papa dey learn?.

This is Nigeria and not America. What is the minimum wage in America and the minimum wage in Nigeria?. We should try to stop making comparisons with America all the time. You do not need 1Billion Naira to even enjoy your life in Nigeria.

deepwater:
Bro, not everyone and at every time compounding interest is required


I have noticed must gurus here want others to follow their way of thinking.

Sometimes u could compound your interest, other times you could spend the interest. The money belongs to the owner

I will give an example, sometime ago my inverter battery packed up. When I got the price for new sets of batteries it was very high. Guess what I did, I raised times 10 of the battery money, bought bills with it. Used the interest to buy new set of batteries. Solved my problem and saved as well without breaking a sweat.

So if I had compounded the interest how would I have gotten new set of batteries?

Bottom line, to each his own.

Gbam. Too much of everything is not good as per too much of compounding is not good. Somebody has a life to live ke.

My TBs is normally done between August and September. The interest is used to pay the first term bills of my kids in boarding in secondary school or used to pay my one year rent. If i compoind, wetin i go tell their schools or tell Landlord?.

Jobac:
I have to quickly read up what it means and I found out that it means "interest on interest". Don't mind me, mathematics or arithmetic is not my friend, in fact, if i see x/y or y/x I just don't know what x is doing over y. I should reinvest this money to get another interest? You see what I am saying now, this my big brother just open my brain. I don dey think this weekend ma loud gan. I will add it to my savings and do another one. Thank you sir and all the people that have been commenting on this thread.

You can open an MMF account and put the money there and continue to add to it every now and then and when it has reached a good level, you move it to TBs again. MMF interest rate is close to TBs rate but it is not upfront interest like TB.

Btw, if those your guys for area ask you wetin go happen this weekend as per weda una go 'smash those babes as per usual', just tell them say you don repent and that you dey go fellowship for this weekend.

deepwater:
Bro this is text book
In reality, things are designed to fade with time
I bet 2015 laptop wont worth that sum in 2019
Just look around you and study how those things you spend money on fade with time.
Your 2015 50k might not get you a laptop in 2019 but still, 2019 laptop is surely a higher spec. Now I ask, was this due to inflation or more value added to the laptop by the manufacturer's in terms of design and capacity?

Dont forget not everyone had 50k in 2015, but now they have and can still get laptops better than 2015 specs.

I bought my Siemens C35i for 93,000 in 2003, with that sum I will buy a better phone even at half the price.

I am not saying inflation doesn't exist but not as typical as it is been portrayed. Otherwise, we would be operating on 100% inflation if the statistics are correct since 2005

Seems we are thinking alike on this inflation thing. See my response to him on this same issue of inflation.

HeliosHay:
Value erosion by inflation simply means that your money has less purchasing power.

For e.g., If you bought a laptop for N50,000 in 2015, you won't be able to buy that same laptop for N50,000 today due to inflation causing the price of the laptop to increase.

Inflation in Nigeria is currently around 11%

Investing in TB (and earn 12%) allows your money to barely keep up with inflation.

Your money won't keep up with inflation when you invest in fixed deposit (savings)

Not totally correct. If you want the same model of 2015 laptop in 2019, you will get it at N50,000 but you will not get a brand new model of it because the company has stopped making that model but now have new models with new prices. For instance, can you still get a 2GB RAM laptop today?. Why would you think that you can pay the price of a 4GB RAM laptop in 2019 for the price of 2GB RAM of 2015?. Na only fairly use you go get. Try go look for Nokia 3310 to buy and see if you will see it to buy. So it is essentially not an inflation thing. Those always jumping to inflation have always failed to factor in other variables.

Pascopele:
While you were asleep, many people died overnight. If you're reading this, just go ahead and type "Thank you GOD".

And you think if you saying it type it an infinity number of times, you will not die one day abi?. Stupidity and gullibility at its highest.

benson4u:
I can see you didn't even know the root of the argument so go back 2 pages to get it.

I know the root. I read every post on this thread.

benson4u:
The question was what business one can run with 100k that will generate profit of more than 1% within 2 months. But of course before I started the business I have all these expenses sorted out. What I'm saying its the amount I use in the day to day running of the business. Sometimes when business is very good I can even net 200k per month. But straight to the point with 100k running this my business I can confidently say I can't net extra 50k minus expenses within 2 months.

What you should say is that you have a monthly running expenses of 100k that generates the returns for you and not that you started the business with 100k. This is what normally mislead people that they quickly jump into such and get their hands burnt.

deepwater:
yours above is correct, no doubts.
However, container dey fall for road, shop dey catch fire, lagos state government is notorious in relocating markets to another location after yuletide season, iyaoloja dey lock shop at will, customs don increase exchange rate the day before yesterday container dey high sea! importer don dey run around to look for more money to clear goods to avoid demurrage, landlord go increase shop let for trinity/berger cement/ijesha were u go offload.....


Gentle man walk into STANBIC buy NTB go house, 2 days later him get debit and credit at the same time. Him go sleep dey look una, dey wait for another 364 days.

If business sure pass, nobody go go school.

FYI, na we carry okrika from magazine enter badagry that year, government vex pack everybody go vespa. na so vespa market start.
Before u know, girls begin enter China go bring okrika everybody bone south korea. today everybody na importer for IG.
Business na for person wey don chop belleful, no be for struggling people. hence the high rate of start-up failure.
U never see gain, u reach house kerosene no dey to cook and u say u no wan touch capital, omo leave that thin.

Bottom line, we dont have enabling business environment yet. so avoid huge risk except u have access to huge bank funds.... last last na wetin close diamond bank be that.

if the business been pay well, people for return the money

Once Nigerians hear say one person don dey make money from one business, everybody go begin jump enter without studying the business or studying the environment and location. The next thing, the business go fail and the person go then dey point at one old woman for village as the cause. Some start very high in an area that cannot afford such charges and complain of lack of customers. How will you get customers when for instance you open a posh tailoring sewing shop with A/C and all the effizy and charge three times what others in the vicinity are charging and expect to get customers?. You dey sew your own cloth with robots?.

OgogoroFreak:
Chai, you get sense. Come make I wife you.

Wetin she wan take an ogogoro drinker like you do?. You want person wen go dey carry you comot for gutter after you don drink ogogoro abi?.

Jobac:
I managed to read the first 10 pages and the last 20 pages, mehn...big guys full this place. Many silent millionaires. Not all these noise makers in my street...I am also one of them anyway. The people here have humbled me. People are making money here silently and we are declaring serve them all at the beer parlour.

Na only serve them all una dey do for that una beer parlour?. Una no dey count and dey boast with the number of babes wen una don bulala?.

seyi0802:
I have been debited for 181days... I think the banks are making business from this. Purchasing from Primary market and sellling to us at a reduced secondary market rate. Also the custodian fee is like a reap off. I will visit the bank on Monday to know the % or how custodian fee was calculated.

All Nigerian banks are fraudulent in nature. Still sharing from the small 12% per annum.

It is not a reap off. It is the price you pay for not having the required N50m needed to bid in the primary market. If you are buying cups of rice because you do not have the required money for a bag of rice, will you say the cup of rice seller is reaping you off?.

Controlv:
Zenith bank just debited me for 182 days at 10.8%. My account officer had informed prior to initiating the transaction that rate the week is 12.4%. 10.8% for 182 days is not encouraging.

Did your account officer say rate of 12.4% was for 182 or 364?. The rates are not really known prior to the auction. It is only after the auction that the rates are known but account officers can try to extrapolate based on the last rate but it is not cast in stone.