₦airaland Forum

Dracoe:
Good morning everyone. I want to invest in t bills ,I’m still a student and I plan on starting with 50,000(I don’t know how feasible this is;prolly someone could enlighten me)
I would like to know which bank is best and which has the highest rates .And also the best in investing in whether the 91,182 or 364 days tenor, as I don’t plan on touching the money for a really long time.Also if I was doing the 364 days tenor,do I have to keep reinvesting once the 364 days is over ?
Your contributions are highly welcomed and appreciated.

awesomeJ:
Reserves now at $44.34bn (as at Mar 28), Brent has gained more than 2% today. it's currently trading above $69 and may cross the $70 mark before the week is out.

So, there's some pretty huge comfort for the MPC currently.
My Outlook for this quarter is for T-bills discount to be between 11.5 and 13.2% for the 364 day papers.

The only major factor that may alter the market now is if there's a change in the CBN's leadership by June.

364 days at 12.8% is 14.66% yield
182 days at 12% is 12.77% yield
and 91days at 10.5% is 10.75%

MMFs at 12.5-13% are available alternatives for the short term. Those funds locked in some instruments already at 15%, so they should be able to support their current yield levels for at least one more quarter.


Happy New month to us all, welcome to Q2.

DPRmoniker:
If you are not able to read all the story, the bottom-line is that my 18-year old daughter is so attached to me that she can change clothes before me or sleep on same bed with me and feel no shyness. How best can I create a loving distance between us? I want to do this . . .

The details . . .

Preamble

It was late 1999 and I was in 4th year, studying engineering in University of Nigeria Nsukka. Shortly before my internship, I got my then girlfriend pregnant. A 2nd year student of Mass Communication, Obioma. She was young, beautiful, quiet, harmless, innocent (looking) and active catholic. I felt bad (the worst feeling of my life so far), not because I got someone pregnant but because of what she will pass through. Insults/embarrassment/shame in class, church and family, studies and exams, she will just be looked at like the worst person. She opted to abort the baby and I refused. Even though they frowned at the pregnancy, my parents, staunch Catholics, didn’t go hard on anyone and always made it clear they are willing to take the child if we deem it unwanted.

To cut the story short, after nursing the baby (a girl) briefly my mother took over. I am from Nsukka (the university town) and my mother was a teacher then (now retired). As a student, I was on a couple of scholarships and did a lucrative GCE/JAMB lessons and exam runs. So money wasn’t such a challenge. Student-turned-baby mama went to see her child from time to time, and didn’t appear to have forgiven me for what she went through in the course of the pregnancy (mostly the stigma and poor academic performance). Remember we are talking about 1999 here and not 2019 (so if not for anything, there has not been a Facebook. lol). I was giving her a weird consolation of how it is good to give birth early and how what people think don’t really matter. By the way, she was like 17-18 years at the time, from Asaba. Myself around 21 years then.

Fast-forward to 2005/6, I have taken my daughter, 5, and been working in Port Harcourt. For my personal nature and level of thoroughness, I believe she’d be better raised under my nose. In 2008, I got married to the same Obioma after almost a decade of on-off relationship. It appeared we understood ourselves inside-out and can’t just do without each other even though we are not the best of lovers.

Current Situation and the Challenge

Now approaching 18, our daughter is in the University. She took a lot from me ranging from physical features and strength to mental reasoning. Perhaps owing to circumstances of her early years, she has strong leadership qualities and some level of independence with sense of humour. Her gap to the following sibling (a boy) is 8 years. She supervises everything in the house – from the house keys to the car keys, from the cooking gas level to generator servicing, from the fire extinguishers to the electric bulbs, from foodstuffs to menu, etc. She is practically in charge when I’m not around and has express authority to punish or otherwise the two boys following her. Some say I have given her so much power that may affect her relationship or marital life but that is not my worry, for now. She stayed in the dormitory for secondary school but goes to the Uni from home. We no longer stay in PH anyway.

Here are my worries. When her mother is not around, she would so love to come and sleep on our bed with me. Amid all the resistance, she succeeds at times. She had excitedly said it before some visitors and I felt very embarrassed. This girl can wear anything and sit anyhow in my presence but a very sharp contrast when a non-family member is present. Recently, she was chasing around the last born tying only towel, the towel dropped in front of us. She did not hurry up to cover up even as she had no underwear inside. Then her mother stood to give her a slap and she challenged “that no other person is here”. She sits on my body like there’s no tomorrow and presses all parts of her body on me with no reservations. She is just that free. I have never seen anything like this before. Initially, I believed that as she matures she will be withdrawing but no way. We are actually very close that at times during holidays she just takes fun in coming to the office at closing hours for us to go back home together (some 6km away). Virtually everyone that knows me knows her. A striking resemblance is there too.

I know that even on gunpoint with the devil, I cannot harbor sexual thoughts on my daughter or sister. I am not that religious anyway, but I feel there should be some distance. Others have also indicated that she may use me as benchmark when choosing husband and it will be wrong if not corrected now.

to continue shortly . . .

ositadima1:
Forbes 2019 top 20 richest Nigerians

1. Alikote Dangote
2. Mike Adenuga
3. Femi Otedola
4. Folorunsho Alabija
5. Theophilus Danjuma
6. Abdusalam Rabiu
7. Tony Elumelu
8. Orji Uzor Kalu
9. Jim Ovia
10. Oba Otudeko
11. Arthur Eze
12. Cletus Ibeto
13. Benedict Peters
14. Igho Sanomi
15. ABC Orjiako
16. Bode Akindele
17. Emmanuel Ojei
18. Mohammed Indimi
19. Tunde Folawiyo
20. Hakeem Belo-Osagie

Ok, now tell me how many SS and SE are on this list? Is it one or two according to you?

ClitRaider:
First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

Kirchhoff01:
Jeeez
so I have been wasting my money on fixed deposit since 2years

Kirchhoff01:
Is this what I get in a whole year with a principal of 2M or for 91 days?

Kirchhoff01:
make una no vex... a summing I have 2M I want to invest in TBills and the rate is 10.5% for 91days... abeg how e go be... wetin be my interest. I was told interest=principal*time(tenure)*rate/365 but the stuff dey give me vague values. Help me guys

Centrix:
Not necessarily. [b]Corona was one of the first few exam centers for Loyola exams in the 90s. [/b]They've been doing this for so long. But Corona Pry school standards are still better than most big name pry schools in Lag for sure.

Centrix:
Well that was corona of the 80s probably but more students get into loyola from corona than any other school. Chrisland and Montesorri Int School Ph are also worth mentioning. Corona standards (including the sec school) is deft much higher than it used to be. 10 corona students had over 300 in JAMB 2 years ago. Expensive yes, but relatively good. Olashore and Day Waterman do not have competitive entrance exams like that. Any child with average learning abilities can get in. I'd say corona sec school entrance exams are way more competitive than those two

drafrican:
Thank you,i actually attended corona pry sch but to be honest am not impressed with the kids of family friends that attend the sch,for mothers its a status symbol and most of them cant get into sec sch like loyola,olashore,day waterman,oritamefa baptist they all end up in corona where they fail ,waec pass gce cant pass jamb n end up in uk or cyprus ,the standard has dropped you pay all that and still need lesson teachers

While in corona in pry 4 i scored 480 in common enterance in pry 5 i scored 565
My sibling had 7 As in ssce but now corona is a mess,it all about cash and the closest to me is gbagada.

zamirikpo:
Wait ooh, so from what u are saying, that means we should be buying fuel at N230/litre presently. The govt is subsidizing the difference abi.

Ok.....give this ogharra boys that same CRUDE oil , they will provide PMS at N100/l , this Niger delta boys are doing it wella. And mind u a barrel of crude =160litres = 42us gallons.

The science of crude processing is simple.

ahiboilandgas:
there no need for scarcity 50 m litres

Donvalentino55:
Good day Nairalanders. I have a baby that'll soon be up to school age and am planning on opening a kiddies account for her. So am soliciting the kind opinions of fellow parents who have more experience in this regard. Please which Nigerian bank operates the best kiddies account?

If possible state the reasons why so as to properly drive home your points. Your kind response will be greatly appreciated. Thanks.

dfrost:
The best bank for kid savings? My answer: Land savings. Don't keep money in the bank. Buy land wherever you see it. No matter how ridiculous the price is, buy it. Plant cashew on the land. In 3 years, start harvesting it. Simple. That's the best security for your kids.

Bank ko, bank ni. Same bank that will not give you loan as an individual because you don't know anybody except you bring your great-grandfather's birth certificate.

My 2 kobo suggestion.

DavidEsq:
Oga abeg explain dis interest thing. U dey borrow ur own money? Explain abeg. I am very much interested in this one.

donshady:
Look at this ladies running Tbills. So amazing. Bravo

Agbeni33:
please i need explanation on this issue.

I went to stanbic bank last week(12 /02/2019) for last week auction. i filled the form and it was submitted. the lady said are should come back on the 13th which is the real day for the auction to know the rate at which the TB will be bought.when i got there she told me that she bought the TB from the primary market that i will receive email and debit alert message. since then i didn't see any email message nor debit alert. to my greatest surprise someone else paid money into my account and i discovered that the money i recommended for the TB as been deducted without debit message and email message. my question is, does that mean that my bid as been successful? if yes, why is there no any evidence? the lady attended to me said are should be expecting message since last week. please what is the solution?

kings11ng:
wow somebody is doing TB of 20million and am here doing 400k... dairis god oooh

Adiwana:
Me was thinking about moving to GT bank this morning cause losing 40k under 24 hours is not something I would like to experience.Seems at that rate it was a very good bargain

Agbaletu:
Apply this formula:


I = PRT/100

Where;
I = Interest (Upfront interest)
P = Principal (The amount you are investing)
R = Discount Rate (%)
T = Time (Tenor)

Agbaletu:
It does not work like that my brother. If it were to be so, I won't be locking over 20m for 364 days. The 10% is for one year and not just for 91 days.

DrTee1:
Dear Agbaletu,

I'm quite naive with this, but kindly clarify my thoughts.

I'm wondering, why put your money away for 1 year (364 days ) for 14.5% interest when you can put the same amount in the same investment (Treasury Bills( for 91 days with 10% interest that can be immediately re-ploughed in for another 10% (interest + capital) this giving a larger compound overall interest when that is done four times (91 * 4) rather than simply 364?

Babs612000:
Please how much is per sq m.

Babs612000:
Please how much is per sq m.

mufutau55:
I am looking for different design pics of interlocking paving stones. Thanks.

Hajji M.

diordaves:
In anything you do, value added is always more profitable. Just selling the land is just a premitive state. You add value by erecting a structure. Just exporting Cocoa produce is premitive and far less profitable than adding value into chocolate bar.

So how do you calculate the 'profit' of a building the way you asked? Do you need 30 years to get your money back? Certainly not.

When you calculate in such respect, you use the principle of amotisation, depreciation and residual value. But let's not go into all that.

Let's use a practical example. If you gave your contractor 40m to erect a structure for you, immediately your keys are handed to you, that structure is worth well over 40 million on completion. Fact.

So let's say for argument sake, on completion the building is now worth 80 million. Let's say it took you three years to complete.

So you calculate by dividing 80million by 3 years. So your building is 'making' over 26 million a year. So your break even point is under 2 years. This is the point you get your money back.

If on completion, your property starts losing value, then it may take 30 years to get your money back or not at all.

So the rent you generate, is just an extra income and there is a calculation for that as well to know if you are making profit. You use the Return On Investment (ROI) calculus.

Abdomox:
I am sorry to say, this analysis is wrong. When we talk about pay back period in Finance, we don't use the initial investment cost to analyze the way you did. The only amount you use is the salvage value of the property (for properties we've always agreed that the salvage value will be more than initial cost due to Land appreciation).

For instance, if you build a property of N40m today, and have an investment horizon of 5 years....all you need is Cash flow for all the 5 years.

Let's assume you rent out the property for 2m p.a, and assume the property will worth 60m after 5 years. The cashflows will be as follow:

Yr 0- Initial investment- 40m
Yr 1- Rent- 2m
Yr 2- Rent- 2m
Yr 3- Rent- 2m
Yr 4- Rent- 2m
Yr - Rent & Salvage Value- 62m

After setting this out, you will discount all these at prevailing discount rate (let's leave this).

In short, you don't breakeven based on appreciation of property yet to be disposed except rental income covers the initial cost. Note that the future rental income need to be discounted because one dollar of today is not of same value as tomorrow.

Nnamz:
When I first heard about tbills, I didn't come here asking stupid questions. I first of all researched about it, then found this thread and read extensively on it; I am talking of months of reading up on tbills befor making my first investment. So while the adage is right that person wey ask questions no go miss road, let those questions not be "what's the difference between primary and secondary market". I wanna blow my brains out when I see such questions, and I wouldn't be surprised at the number of people that have left this thread cause of such questions. Soon, I'm gonna join the que and leave this thread cause of such repetitions here.

234ng44uk:
Which bank was that please? Freeman67 did it successfully at First and Stanbic.

Mizwisdom:
They say when many people complain about you, start checking yourself. If all her siblings gang up against her it's either jealousy or attitude. From what she has written so far I've been able to draw a conclusion that it's attitude. She can't hide it, it's now part of her and it shows as she responds to people here. I can imagine how it will be if we met face to face. I wish her well though, I hope she can change but if not, I hope they tolerate her

debbycreamy:
Eeeyaaa, is like u are not reading what i wrote u just jump into conclusions.

Anyway, since the issue was conflicting here, i met with my pastor, he explained its just envy and distraction so i should forgive them. I have forgiven them but haven't called all yet. Thanks

Garlay:
What's MMF?

crystalzoe:
Well done mama
Pls my son will be two in march and his sch asked to move him from daycare to prenursery this jan. I'm of the opinion that sept is best for him when he'll be 30mths old. They moved two other children who are in the same age range and now I feel like I didn't decide properly