₦airaland Forum

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.

ahiboilandgas:
I tire oooh their only asset doesn't generate money like tb @12.5 which is my primary interest ....some even add pictures may God protect all men

Haba, why you wan chop all that money alone?. Splash some to them. Chop, clean mouth and move on now.

Gforce2019:
I smelled lie in your comments. How do you invest that you are getting 800k monthly. Eniyan o tan re bi Iya ibeji

It seems you have not been following this thread. Somebody is targeting N1B in TBs at a particular age. Go and calculate 10% on N1B on 1 year TB and calculate the monthly amount on that.

zamirikpo:
Bankers work for there reps. banks and pocket , so they have no obligation towards bank customers. But if a customer wants 13% instead of 4% , u do not have any right to do otherwise. Even the bank mgmt would prefer to sack that staff than loose a juicy customer entirely.



In order matters.......how far with today's AUCTIONS RESULT.any news.

That is not the situation here. If you walk to your account officer and ask him/her whether you should do TB, he/she will definitely say 'No' and that you should do FD but if you walk up to him/her and say you want to do TB, then he/she has not right to deny you. There is a difference between 'should i do' and 'i want to do'. That is what iam trying to point out. The account office is watching out for his/her interest as in his/her 'cabal'.

cy4cent:
Are you kidding me? Now I see why they do it. How can someone be so heartless to allow you get 1-4% interest on FD when you can get up to 13% from TBills? Just for their own selfish interest. It is only God that will help Nigeria, I give up. For the past months, this account officer allowed my funds to remain dormant.

How is the person heartless?. If you move your funds and her 'cabal' reduces and he/she cannot cover the 'hole', it means he/she will be fired. Imagine being sacked in this tough times. I know of somebody who had to resign because of this because his BP was always going through the roof once MPR is close at hand. To make matters worse, his boss calls him at odd hours(sometimes 2am) of the night to remind him of his 'cabal'. The wife just told him that it is better for him to be alive by resigning than die and leave her with four young kids.

Abini2012:
Got 12.20 for 196 days at First Bank today..
Based on my calculations I learn from this thread, interest for 1M should be about 65k without fees.. pls gurus, am I correct? Am I a good student?

Not only you are now a good student, you are now a guru in TB interest calculation.

OgogoroFreak:
Honestly, I like the passion with which you defend these pastors.

People like you would always exist in the world and you are the reason I'm now thinking about cashing out with this church thing... I need to own a church!

Shuooo. Dem go drink ogogoro for that your church?.

Akin3891:
Your post got me to calculate my rent on my two houses, one since 2010 ,built nine years ago, the other for 7 yrs now ,after calculations, the first got me abt 40% money spent ,the second house got me abt 30% money spent. I've been to court severally as regards to two stubborn tenants, paid legal fee, during the space of ten years . I've received heavy punches from a bad tenant once, almost got my younger brother killed by same tenant. The court aren't helpful, a court case can go on for more than three years, the period the judge is to give judgment, your tenant would have vacate, so who will pay then? Thereafter, i changed plans to deal with bad tenants that will say it to your face that, you can't do shit, i use my soldiers friends, ( the tactic is that, the soldier is my younger brother, just posted frm d north, n will be staying in d flat, no assault or physical enforcement at all) few times it worked but that almost got me into trouble the last time i used that tactics ,the day i visited a tenant with soldiers, few days after ,his wife lost a pregnancy of more than nine months, the tenant told me, it's those soldiers that caused his wife panics n made her lost d baby ( later got to know that the baby was over due, and they couldn't afford a CS operation ,so baby died) . Just imagine this Tennant is well informed n financially ok n took the case up, i cld have lose my freedom . The pains behind being a lagos landlord is sometimes more than the enjoyment, it could cause one HBP n more. Since then, I've been super careful dealing with tenants, they can cause u more than you bargained for. But capital NO, TBS won't give me all these troubles so i will stick to it until something bigger show up. If you encounter bad tenants once, you will pray they go with d money, just for peace to reign

A tenant just moved into a vacant flat in the compound where i stay. He paid thousands for the flat. He does not want to pay for recharging prepaid meter to pump water or pay for refuse disposal. If he is asked, he will say that he does not have money but he has money to buy fuel for his generator which he puts on immediately there is power failure. Iam already wondering how he is going to pay the renewal of the rent at expiration of the current rent. From the way he moved in, it seems he was forcefully ejected from where he was coming from.

madprophet:
Boss,

Do this MFB pay as at when due?

Or I should just stick with my FBN MMF?

I do not know as i have never done any fixed deposit with them. I got to have an idea of their loan interest rate when i made an enquiry. The lady that responded to me refused to tell me their interest rate despite persistently asking. I got an idea of it when i went to their website and simulated a loan with their loan calculator. Iam aware that most MFBs do not use the reducing balance method for loans especially for retail/consumer loans but use flat rate method and it is always per month. They will tell you that their interest rate is single digit but they will not tell you that the single digit is per month.

TotoNaRubber:
The people that replied are not kids.

The question you asked has been answered over 10 times this year alone, go and read previous threads and your answer is righg there.

It is a funny question because every month a new person that just discovered Tbills will come and ask the same question.

Do not mind the guy. All it takes is a few days to read about TBs instead of just jumping in to ask immature questions.

ikechukz:
I wanted to ignore this but I just can’t. The beginning of thread was filled with mature responses but it looks like kids have taken over. If you go back and read my question, you’ll find out that I never asked for any mathematical results.

This thread has been filled with matured questions. It is of recent we started seeing questions like yours from kids who are looking for quick and fast money without hard work.

If you had gone back to read or do a search, you would have seen that this same question has been asked by kids like you over and over and answers have been given to such kids over and over. If my kids who have left primary school should ask me such a question, i will go and ask for a refund from the school.

Do some work yourself by applying Simple Interest on your theory and tell us your result.

ikechukz:
I don’t see how your answer relates to my question, if you have nothing reasonable to contribute to my question why not just look past it.

Why not practically compute it yourself by doing it and showing all workings in an exercise book. Iam sure Simple Interest (PTR) is still being taught in schools.

ikechukz:
Hello everyone, thanks for all your contributions in this thread, especially to the OP. I have a spare 500k that I wish to invest, and my question is this; rather than investing for say 14% for a year, will it be better for me to invest for say 12% for three months and do it like three times in a year. Which of them will pay more?

Grupo:
On this thread, there will always be that one person that thinks they just discovered the secret to wealth creation. Lol

That is why MMM succeeded and made a kill.

alezzy13:
21%?? Are they printing the money?

They are not. The give you at 21% per annum and lend at 5% per month which is 60% per annum. 60%-21% = 39%.

amjustme2:
They should upgrade to Fund Managers,

Join FMAN

And I will start taking them serious.

They do not need to join FMAN. They have their target market and they are making a kill.

olujaidi:
Retail credits. They probably lend at 3-6% monthly. In a year that's at least 36%. Retail lending is a fast growing sector that the commercial banks don't really play in but MFBs and Finance Houses do.

The commercial banks have just seen the light that there is so much money to be made in retail lending and are now coming in. GTB has just set the pace and they are already making a kill.

You are right about the lending rate of Renmoney. It is in that 3-6% range per month. It leans more towards the 6%.

obiZEAL:
Try fixed deposits, you get between 12.5% to 19%. Depending on amount and tenure.

amjustme2:
In this Nigeria?

Please tell me the bank that pays this.

Possibly a link to the source of this info.

Else you should delete this post. You could be deceiving a lot of people.

olujaidi:
Renmoney MFB

No wonder their interest rate on consumer loan is so high.

PETERiCHY:
SCAM ALERT

Octopus, you dey waka come this side?.

omidan21:
I went to a GTB bank branch and the customer service person didnt explain this T billz well

he just gave me these details that the next one starts next week Wednesday and also
91 days is 10.29 percent, 182 days -12.6 percent

To cut the long story short can u please explain what primary market and secondary market is i see those terms flying around on here
H
then with that rate GTBank gave me, If i invest 5.5 million for 182 days what will be the return investment
Thanks for your feedback

So you have 5.5m to invest, Tbill was not well expained to you at GTB and you have been seeing primary market and secondary market flying around here and yet you want an explanation for them from somebody abi.

I want to believe that since you know how to login into Nairaland and read posts, you must have heard of 'google' or you must have seen the 'search' feature on this Nairaland thread. Try to make use of any of them first. This is a shorter way to know what they mean than reading from page 1.

xzibukz:
pls what's the different between primary market and secondary market for TB.

I went to access bank today for enquiry, I was told they sell TB on a daily basic only on secondary market at the minimum rate of 11%-12% depends

Primary market is like wholesale while secondary market is like retail. You can also see primary market as 'buying the bale of clothes' and secondary market as 'bend down select'. .

Nnamz:
Yes Ma'am it is correct. 500,000 * 0.1025 per cent = 51,250
51,250 divided by 364 days is 140.796......
140.796..... times 114 days is 16,050.824175.....
Remember that interest is per annum, that's why I divided the interest by 364 days, and multiplied it by 114 days.
MODIFIED: Also please read previous pages of this thread like Ogogoro (which kin name be that sef) stated above

Wetin do the name?. We suppose promote our own now. You wan make him dey answer 'HennesseyFreak', 'GlenfiddichFreak', 'MoetFreak'?.

maklelemakukula:
how many marks ?

100%.

class0247:
If I invest for 6months and I got paid fully at 12% can I use the same money to invest again for another 6months? If this is the case while invest for a whole year when you can make 12% each 6months and make 24% in a year instead of 14% in a one year long fixed. Please I need explanation

I was taught Simple Interest in primary school. I was also taught the same Simple Interest in secondary school. I was also taught the same Simple Interest in higher institution.

I want to believe that anybody that can login into Nairaland to read posts and make comments went to primary school. This means that i was not expecting this way you are looking at it. Moreover, i have gone through several Entrance Examinations past questions and Simple Interest is always a constant question.

Anyway, let me give you a Simple Interest assignment.

Que: Find the Simple Interest on N1,000,000 for 6months at 12%. (Show all workings. You are free to take it home and solve or give it to primary school or secondary school students as assignment).

Just in case you have forgotten the formula, it is:

I = PTR/100

where:

I = Interest
P = Principal
T = Time(Tenor) in years
R = Rate

9ja4eva:
Wow! Lots of fascinating comments here. I want to start trading T-bills, but I do not know where to start, bills to buy, or how to start. Some guidance would help. Any help/suggestions would be appreciated. I take God beg una.

Start by reading the first 10 pages of this thread and then continue reading starting from 10 subsequent pages. Also stay close and read current comments. You will get to know everything about TB in not time if you are serious and dedicated to it. Na the path wen i follow be that.

Dracoe:
What’s the interest rate of money market fund like per annum?

It varies but closely follows the TB rate. The main advantage of TB over it is that TB has true yield because of the upfront interest. MMF is a good way to start for somebody with little funds. When the funds grows to a reasonable amount, you can withdraw from it and invest in TB.

See this thread and read more about it.

https://www.nairaland.com/1912965/mutual-funds

partnerbizz4:
Good morning all,

I have been meaning to ask this question.

Is it possible to get a loan with which to build a house like four storeyed building? Land is available.


Can any bank finance this?


Can any mortgage body or firm finance it?



Are there other ways one can actualise this?

Cannot say if Nigeria banks give such loans. You will need to visit your bank to find out. Many banks have recently been advertising for consumer loans. Such loans are always tied to the person's salary account been domiciled in such banks.