Yem0350:

Which bank in Nigeria offers 18% fixed deposit? I want to know.

When did he started earning 300k? Was it 13years ago?

Some questions make me go seriously?? How should I know na? All I know is that he says he makes 300k monthly. Full stop.

As for which bank offers 18%, it was Unity bank if I recall correctly. But make sure you go there with 400 million Naira if you want to wine your mouth and dictate for 18%. They might even pay attention to you, small sha o, if you have like 100 mill

ahiboilandgas:
really ?what area was land for 400 k in 2005 now 45m ? Cos must premium land in lekki ,phase 1 and wuse abuja where in 7 m range in 2005 , also was your dad earning 300 k in 2005 till now 2018 , for 13 years on same salary he didn't have any expense ?also didn't he sell all his land put in fixed deposits to to get 450m cos to save 450 he needs to save 300 k for over 100 years ....out of curiosity why will a person having fixed deposits of 450m on 18 percent still work for 300 k? While will a man earning 85m per annum meaning his one month investment income is more than his annual working wage ...finally no bank gives 18 percent that can accommodate 450m fixed deposits..

Can people read before responding I did not say he had to save his salary to reach that amount. I said he has lands here and there, including one which is now priced at 45M as of last year, and I implied he must have acquired more lands like that over the years. Therefore if he sold x amount of lands that he acquired over the years at say 400-800k each, for say 45M, that's more than enough to make you have 415M in your bank account. Read read please read my post before attacking me

ahiboilandgas:
really ?what area was land for 400 k in 2005 now 45m ? Cos must premium land in lekki ,phase 1 and wuse abuja where in 7 m range in 2005 , also was your dad earning 300 k in 2005 till now 2018 , for 13 years on same salary he didn't have any expense ?also didn't he sell all his land put in fixed deposits to get 450m cos to save 450 he needs to save 300 k for over 100 years ....out of curiosity why will a person having fixed deposits of 450m on 18 percent still work for 300 k? While will a man earning 85m per annum meaning his one month investment income is more than his annual working wage ...finally no bank gives 18 percent that can accommodate 450m fixed deposits..

I live in Port Harcourt. As for why he's still working, well, ever heard the saying "do what you love and never have to work"? Although he is now retired, the man no gree retire o. He spinned his company for about 8 years before they finally outsmarted and retired him. And as for how a 400k land in 2004 is now priced at 45m, I'm surprised you're even asking that. Don't you know that an area can develop so much that people would want to offer you even 100 million for your land? (2004 till now is what, 18 years? That's goddamn enough time for huge development to hit an area). That 100 million is nothing to them compared to what they would make should they acquire that land. That's why I emphasized on strategically, in my previous post, when it comes to buying land. Some people (like my dad I must say) just have the eye to know a place that would be well developed in few years time. Okay enough now lol

Peace!

speedyconnect3:


Bank fixed deposit? 18%

I saw that coming. I guess when you invest a certain amount, you're able to twist the rates. So YES bank fixed deposits 18%

BiafraIShere:


Wow, that's really amazing!
Does it mean yours truly can have similar amount of savings in no distant time since my earnings are equally in the same region and I'm still relatively young and single....

Just thinking aloud

You would see that I later modified my response to add a few things. If yours truly can strategically buy numerous pieces of lands here and there for x amount, yours truly could sell those lands in no distant time. Emphasis on strategically. Eg a land my dad bought for chicken change of 400,000 Naira in 2004 is now being priced at 45 million Naira.

While his mates were busy squandering their own money, he was busy investing it. So to the young ones on this page, first of all you have taken the right first step by even being on this page/thread. It shows you're thinking farther than most of your mates. But please don't argue with your elders here Don't squander your money foolishly (in fact, there is no wise way to squander money so don't squander your money at all). Always think about your tomorrow and remember that it is tomorrow that matters, not today.

I'm gonna end this very long motivational speech with this piece: you don't have to earn a million Naira monthly to have, say 415 million Naira in your bank account in x years time. If the will is there, you would most certainly find the way.

Cheers.

BiafraIShere:


How was he able to save up such humongous amount of money with 300k monthly salary? Was he into politics? Contract? Or some other money spinning ventures?? I'm just being curious...
Yes, I quite agree with you that one can't blindly trust another 100%, at least not in this present generation that has been turned into a theatre of absurdities. Where brothers, fathers, mothers are betraying one another not to talk of a total stranger who grew up in a completely different background from yours but later got married to you.

Please has anyone notification for yesterday's TBills investment??

I'm gonna guess by wisely investing his monthly 300k. Where there is the will, there is always a way.

I will give you an example. A land he bought for 400,000 years ago was priced for 45 million last year. He has other lands which not even my step mum knows of, so I'm gonna guess if he bought numerous lands at 400k then, do the maths and see how much he would make by selling those lands at 45M now. He's a very wise land investor.

speedyconnect3:


415m in fixed deposit?

O boy.
Does he work with "Money PLC"


But compare with having that money in TB.

Believe me I'm thinking of introducing him to this tbills stuff. Although he did get 18% in his fixed deposit, but he should see reason with me once I tell him that even with a lower interest in tbills, he could reinvest that interest, and still reinvest the interest from the reinvested interest. That way he's making more from compounded 14% interest, than just waiting for one year for 18% interest

ositadima1:


I am not wasting any of my rockets on you, chicken.

In this age, power is no longer measured by physical strength, but by financial aptitude - who makes the most money gets to wear the pants.

I know it scares you, but as time goes on smarter women will be making more money than their partners, that is capitalism my friend, suck it up.

You are not making any sense. When did Zina imply in any way that he was against women making money? If anything he even attacked someone for airing their views that women should not make money but rather be submissive to their husbands and only be useful in "the other room". So I repeat, you sir are not making any sense

speedyconnect3:


People hide such details at times because of
1. An evil woman, who may want to kill you and easily take all.


2. An ungrateful woman who upon knowing of your account balances will not appreciate whatever is given to her or may want you to squander all on enjoyments.


I know my uncles fate.

Just to highlight your second point, I am the only one in my family that has an idea of how much is in my father's account. He earns 300,000 Naira monthly, or so he says (although his pay slips says the same but anyone can manufacture a pay slip lol). Anyways he gave me his phone the other day and I went through his emails. I was shocked to see the bank alerts he had gotten. Dude has over 415 million in fixed deposits. My point is, he uses this "300,000 thousand" monthly salary as excuse not to satisfy my step mothers excessive want for luxuries. Be wise!

speedyconnect3:


People hide such details at times because of
1. An evil woman, who may want to kill you and easily take all.


2. An ungrateful woman who upon knowing of your account balances will not appreciate whatever is given to her or may want you to squander all on enjoyments.


I know my uncles fate.

3. The one whose boyfriend would advice her to kill you so you are no longer in their way to have all your money.

As much as we all want and pray for a loyal partner, you never can tell what people are up to. Ask people whose spouses betrayed them; some of them will tell you they loved and trusted their spouse 100%. As long as you do not have some superpowers to know what someone is thinking, please you can never be 100% certain of your spouse. On that note, pleaseee wife or no wife, she's not knowing my passwords etc. I will have a will that would have everything willed to her and my child(ren) but I ain't taking the chance to have a woman kill me for money. Come to think of it; you're setting her up for temptation, so DON'T. Money makes people do things they would not ordinarily do.

Sorry o for long post lol

bendo75:


I will not repeat the mistakes of my parents and grandparents.

Just out of curiousity, your extended relatives like uncles wanted to have a share of what they did not earn, or just your siblings that fought over your parents' properties?

ahiboilandgas:
Example of diversification is if u pit 10m in tb and earn 1.5 m for 365 u can buy some euro like 1000 for 410 and put in dorm account at 2 percent ,then buy land of 750k ,then use then reinvest the remain in mmf etc

Where will you see land of 750K?

ahiboilandgas:
u can still drive a Mercedes 2012 it very ok and lease a range when their an outing.....am spending part of my interest to enjoy my life ooh my friend just died around 2012 and his family sold his house for 145m and blew the money ...the rent was around 7 m.yearly ..he hustled till death driving a 190 Benz and a pickup didt enjoy his money....this brothers and kid bought 5 latest cars 2 years after his death with his money....other move abroad

Not my business sha but didn't he have a wife and maybe children that his brothers sold his house and spent his money?

.

GonFreecss1:
It's good to be back. I was banned for a while, it's unfortunate there was no need to insult anyone just because of an online difference in opinion, it is far better to lose an argument online than to lose money in real life. This is what many fail or forget to understand, with that said I never came in here to prove any point to anyone or make people uncomfortable, I was just giving advice so people can learn more.

Some even went as far as making assumptions on what I said and what I did not. Someone even claimed to study Economics in unilag just to make a point, to some it will be funny, but it scared me that people always forget what money is all about, the financial markets don't care about your school, your course or how many degrees you have, even experience sometimes count for nothing as people have short term memories, but what never changes is human behavior.

What I will do is go on to reply someone who quoted me, I tried to reply him but I was blocked. Then I will go on to drop final key points. I hope this all benefits everyone.

Why were you blocked?

Nnamz:


Primary market occurs every 2nd Wednesday. You wouldn't know the rate until the bidding is over. Whereas secondary market is everyday; just email your account officer and ask what days and rates are available. They could say that they have 265 days at 11%, or 45 days at 10%, just an example. Bottom line is, you wait till every second Wednesday to do primary market, while you can do secondary market at any time of the day. Cheers

Remember to submit your form the Monday before the day of the bidding.

cutedharmee:
Pls nah let someone tell me which one is primary market and which is secondary... wasn't told anytin of such when I went to first bank. Was only told to fill a form and bring it early on Friday. Someone should pls help

Primary market occurs every 2nd Wednesday. You wouldn't know the rate until the bidding is over. Whereas secondary market is everyday; just email your account officer and ask what days and rates are available. They could say that they have 265 days at 11%, or 45 days at 10%, just an example. Bottom line is, you wait till every second Wednesday to do primary market, while you can do secondary market at any time of the day. Cheers

And to those saying "but you're better off than those people whose money are sitting idle in their bank account ", or "if not tbills what would we invest in na". Let me correct that analogy.

You're only better off than those whose money are sitting idle in their Naira account. Emphasis, on Naira. You're not, I repeat, NOT better off than folks whose money are sitting idle in their domiciliary account. If you think I'm lying, ask that guy whose 15mN increased to 31mN in 5 years (2012-2017). His now 31mN is worth 87,500 USD. But if he had left that 15mN in a dorm account in 2012, which was 100k USD then, my guy's money would have been worth 36,000,000mN now (Jesuuuuu).

So what are we saying? Leave your money in Dollars. This 15%, even if it goes up to 20%, ain't as sweet a deal as most people think. Like someone here said 2 previous pages ago, [/b]THERE IS A REASON WHY NIGERIA TBILLS IS 15% WHILE U.S. IS 2%[b] . I have said my own and probably the last time I will comment on this. Let me leave those who wants to enjoy their 15% tbills to do so in peace

I think I get what this guy has been trying to say and I'm sure I'm not the only one he has made to seriously consider the benefits of tbills. At first I was very skeptical about him like "what is this ode coming here to say na" but now I'm even thankful to him.

A user here ^ ^ just shared his experience of "investing" 15mN, which later grew to 31mN. Funny thing is that even with the over 16mN interest, he still lost about 12,500 Dollars. Now keep in mind that he would have been better off if he had kept his 15mN in a dorm account. But he didn't cause the 15-18% interest rate at that time was sweeting his body.

This guy has brought up a very thought provoking valid solid point and if you're wise, you would see reason with him. Treasury Bills WILL MAKE YOU POOR.

As for me, I won't cancel any of my current tbills. But moving on, no more tbills of 675,000 Naira every two weeks. I will save my money in a dorm account. And in 5 years time when the US-Naira exchange rate is at say 600 to the dollar, those of you doing tbills, let me know if you are richer than me. A WORD IS ENOUGH FOR THE WISE.

And thanks to that guy who opened some eyes on this forum. You sir are the real MVP

I need some advice. Every two weeks I "invest" about 675,000 Naira into tbills. Is it better for me to just have this money in a dorm account and keep my eyes open for when dollar is high so as to buy Naira and then wait until dollar goes down before moving it again to the dorm account (and repeat cycle everytime dollar goes up to like 500)? How should I go about investing this 675,000 Naira bi-weekly?

I guess what I'm trying to ask is, which is better? Option A: leave your money in dollars (dorm account) where you would have no interest? Or option b: tbills with interest?

dipoolowoo:
CBN Likely to Sell T-Bills at 16.20% in December 2018
https://www.businesspost.ng/2018/11/12/cbn-likely-to-sell-t-bills-at-16-20-in-december-2018/

Market Expects N552b Inflow as CBN Sells N128b T-Bills via PMA
https://www.businesspost.ng/2018/11/12/market-expects-n552b-inflow-as-cbn-sells-n128b-t-bills-via-pma/

I know some people will say that higher rates means more risk, but I am still going to rejoice at this 16%. Hopefully in three years time it would go down to 5%, by then I am already rich so won't care for higher rates. In the meantime, abegi let it be 25% sef or even more lol. In fact 40% like Argentina �����

ahiboilandgas:
if u need consultancy? U need to pay for it....am in bussiness to make money which include providing consultancy service...

Go f*ck yourself.. asshole

ahiboilandgas:
very correct my truck couple with around 11 m 5 years ago still nets around 500 k monthly (net) .....a single trip to kano for 60 ft container is 1m naira that what a 10 investment in tb will give.......if u know u know

If a single trip gives you 1mN, how come you make only 500k monthly?

LadyBeee:
but this post was created since 2012. You don't expect me to start reading from the scratch. So many things must have changed

Sorry Ma

dotcomnamename:
So TB never hit 18% wey i do am last? Well i'm still waiting sha .. Make my peppers still dey do press up in my MF accounts till TB reach 18% again.. I can't shout O!

Once your peppers finish press up na correct stew en go make

aremso:



Sir, am certain we have mature minds from different background & works of life on this forum and to the best of my knowledge, no one deserves the reply given Sir. The best thing you could have done is to ignore the question. Am a slow learner and i can ask one question severally and some here may be like me so instead of making people feel bad as if they have committed heinous crime by asking a certain question severally we should rather keep quite. I will also advice everyone here to please read deeply about where to commit their fund before the actual investment. Just my 2 kobo SIR

Thank you for sharing your opinion. I apologize if I was rude to anybody. Happy investment everyone

Gabrielclint:
Hello house, I am applying to Tbill from outside Nigeria. Is it better to fill in the rate column , or leave it empty so that any rate that was successful can be used for me.

I see you were ignored because this obviously is a stupid question that people are tired of answering. For the umpteenth time, unless you have FIFTY MILLION NAIRA, you have no f**king say on the rate. Go read previous pages and stop asking questions that has been answered here on almost every of the 598 pages of this thread

meryl4merit:
Greetings house, So I just landed my first job, and I want to invest #200k as starters in TB, when next will FG issue TB? plus can someone please help me with calculations of returns for 90days, 181days and 365days respectively? Your inputs will be saving a youth from mismanagement. Thanks.

You lazy Nigerian youth, keep waiting for us to spoon feed you and help you from mismanagement. Don't read previous pages. Ode

LadyBeee:
please which one is secondary and primary market? I want the one with higher interest rate. You can imagine getting just 31k on 1.2m

Please read previous pages. Like for real it would have been easier for me to just give you a direct answer to your question, but tomorrow you would still have another question, and the day after and that after. Do yourself a favour and equip yourself with the necessary knowledge by reading previous pages, for your own good. It would help you make the best decisions on how to use your hard earned money. Best.

LadyBeee:
Are the rates the same with all banks?

It must be your first time on this thread lol. The rates are different with all banks, be it primary or secondary market.

Welcome to the thread. And don't forget to spend few minutes in reading previous pages. You would benefit a lot if you do.

Gavrelino123:

Kindly update here once you get a debit notice...Thanks

Osheyyyyy GTB don alert me oooo make I leave small for others to use

Gavrelino123:

Kindly update here once you get a debit notice...Thanks

Sure boss.