₦airaland Forum

Please go and disconnect this one by yourself right now. As in immediately.

Mustiboy:
Good evening, experts and experienced users in the house. Please I need help.



I complained and noticed he was dodging my observations that the panels might be bad. He later came and connected the panels directly to the battery and not through the charge controller. This didn't improve or fix the solar charging ish.



Please what panel can I manage in the meantime?

Usually, you don't even have to go to the bank to do these things.
Look at the form again I am sure the process for doing it is there.
Without looking at this specific offer, but the general process is:
1: Transfer the amount you want to invest to the account stated.
2: Fill the form
3: Send the form and proof of payment to the email provided and wait.

Alternatively you can use your broker...

Biafran4life:
I can't understand this banks.I have been to ibtc, zenith and Fbn head offices in uyo. And thr response to this sukuk is they have no mandate to the offer.The Fbn guys said nothing like that is even going on.That the last they had idea was fg saving Bond and it is closed. Is Nigeria all about Lagos and abj .

Lol... No sir, do not let the cat out of the bag. As a matter of fact, you have been asked to retreat back to base.

shawante:
You left your money with your mom... Guys should we tell him

OH that means many of them were manage by Nigerians, many of whom are not particularly good in maintenance>>>

What is the initial cost, fuel, general maintenance, parts availability like? I reckon the more the numbers of same cars on the road the more the parts available

sultaan:
They sold a lot of it new now market is flooded with used ones at a cheap price and the competition like Murano, Crosstour and Venza are not as appealing?

People are looking for a semblance of luxury at a reasonable price but Edge at a lower price than, RX 350.

A [b]Jeep Grand Cherokee [/b]is a more capable SUV, but had not be given the chance in the Nigerian market.

When the desirable is not available, the available becomes desirable.

Is there any reason why we have more Ford Edge on the road compared to Ford Escape?

Which noise? Just pray you do not become a target.

Those guys have a way of breaking your glass with people nearby and no one will hear them. I still don't how they do it.

buygala:
Disable the keylock totally..A panel beater can do that for you..

I have had the keylocks disabled on all the cars I have owned, relying on only the electronic key fob..

It's more secure...anyone who wants to break into my car will either have to deal with the noise of smashing the door glasses or have enough time to use a metal strip to open the car from inside...

Vehicle door locks especially those of Honda and some earlier model toyotas are shamefully easy to pick....in fact sef most times, a key of a Honda car will open the door of a similar model. It's that bad

Any reference to how?

pizapato:
You can block your SIM permanently from USSD tho. And you will still be getting alert.

Oh okay. Thanks a lot.

Valto:
u may have to contact @JUO. he markets it. www.nairaland.com/JUO

Hero2t:
It's on Konga

Thanks for your response. However, Fangpusun BMV-702 is not turning up when searched on aliexpress.

ebocoms:
Yes. You can get Fangpusun BMV-702 which same with Victron BMV-702

Is there a Chinese (aliexpress) alternative to this?

babaegun:
Hmmn. There are several resources online. However, you may need to google node red, solpiplog, tasmota and learn about them.

In addition, you will also need the following items to achieve it. With your solar setup, you will need the following - Raspberry Pi 3/4, BMV 712 & connection cable, solpiplog software, wireless router, sonoff flashed with tasmota, node-red etc.

So when you have all these, someone here will guide you.

Cheers

Was he playing with his mates?

rezzy:
Some 16 years back, a boy of 12 died from football injury ó. According to the mom, the ball hit him on the chest after a week, the chest began to swell and that led to his death

Sometime in 2050, the kids then will also make statements like, "did you know that a bag of cement in 2021 was less than 5k, so why on earth did our parents not build houses everywhere?" or "did you know that in 2021, with just 5million, you could get a good tokumbo car, but even with 20 million, you can't even get a 10th hand car".
As the quantity of money that is available increases, so does the value reduces. Dollar may have been 56kobo in 1980 but to earn that 1 naira, you go sweat. So many of these direct comparison serve very little purposes other than to remember the good old days,

AngelicBeing:
My late Aunt who worked with Union Bank for several years, she started working with Union Bank from the early 60's and rose through the rank) , I recalled that she bought a brand new volkswagen beetle (tear nylon) l think around 1980 or 81 thereabouts for 4000 naira. Memories of the good old days when Naira had value

You better look for a forwarded that will handle your shipment. On shipments like this, DHL cost will be too prohibitive.
Just curious, can't you get this product locally?

dimple571991:
Good evening all,
Please I need your opinions and guide, I want to order a Portable machine from China.
I have agreed with the price From the seller and shipping costs too Via DHL.
But my concern now is will I still pay additional fees When it arrives Nigeria like custom charges and the likes or the shipping fee will cater for it.

If I will pay again,does anyone have an idea of how they charge so as to prepare my mind.

Thanks for your response

You can do this, you can do that, which time bankers get to do all these recommendations?

At a stage I got so tired of some of these drugs and just went and used Chloroquine because it seemed some of these new drugs were not doing a proper job.
I managed the itching and the complete breakdown associated with piriton taken with it to reduce itching..

Etoro accept Nigerians?

stevemims:
^^^ In addition, there is etoro, passfolio etc.

In addiction to this question, which of these apps allow you buy with USD if you already have USD.

Are international apps that now allow Nigerians for NYSE?
cc. Tobex4realTobex234

akinola98:
Thanks for this info … quite helpful

Meanwhile do u invest in foreign stocks through these apps ?? If u do, how do u verify your stock with the companies Thanks

Do these guys set up these businesses with an intent to defraud or they just get greedy when they start seeing the gullibility of people?

As this one de happen, another one de plan to open next year, another set of investors go still line up to put their money inside.

lol... There is some logic to it, but would you sell your house or truck to get cash to run a short term business? Wouldn't you rather stake the house as a collateral to get the funding?
That stock, mutual fund and bond is usually viewed with the eyes of a physical asset even though it is liquid so guys would rather bank with it.
It is the same way where an average naija man will not understand why people live above their means in the US using credit card.

SeaTrade:
In other words,the bases of mutual funds is emotions,not logic then.
"Make e be say bank owe me money and I can access credit too"...

When one looks at how you have simplified it, it becomes tempting to agree 100% with you, but cash backed loans is very popular with business
savvy folks. Maybe it is the desire to stay disciplined with payment or the lure of having cash at the bank,, but I do know it is a strong recommendation.
It is also good for people who have a predictable inflow that want to use that inflow to finance a business and do want to wait until they have saved the required amount so they decide to borrow upfront, but rather than use their asset as collateral, they opt to use the cash with the bank as the collateral knowing that their inflow can handle the loan repayment.

You are seeing that mutual funds as cash, but the owner is seeing it as an asset just like a house that he would not want to sell in order to do one quick 6 months business. My thoughts

Foodempire:
This type of leverage is different, when you keep a liquids (cash) type of collateral of same values with your creditors to secure a loan with interest, this is not called a loan but a joke and gimmick to milk you off.

Kindly answer this simple question: will you seek for a 18 naira loan from me while I have your 20 naira cash with me then still ask you for a pay back of 18.50 naira? A good leverage is when you have less and you are granted more in order to make more

I think we had this discussion sometime last year about this issue, which is why I have some understanding of what it is. The interest as you have stated is 15%, but when you normilised it per annum, it becomes 36%.
But rather than tell their customers 36%, they divide it by 12 months and call it 3%/month to make it sound low but it does not change the fact that it is still 36% per annum.
I happen to have had the opportunity to read a loan document that was advertised at around 5% to be paid in 18 months, because I was looking out for the annual interest rate, I noticed somewhere in the fine prints that it had normalized per annum to be around 69% per annum.
The guy needed the money urgently as an opportunity was about to pass within a time frame and he was sure that with his salary, he could conveniently offset it.

emmanuelewumi:
Micro finance banks use per month, so at 3% per month for 5 months your total interest will be 15%.[b][/b]


I got an asset backed loan from United Capital last week at 15% for 6 months. Both principal and interest will be paid back in 6 months time, my total interest will be about 7.5% when the loan is due for payment

You have fallen for the oldest trick of microfinance banks.
Interest rate is measured per annum.

Youngzedd:
It's 18%


1.50% per month multiple multiple by 6 = 18%


I was approached by account officer to take the loan by the 6 months is too short.

That one there is 36% per annum, they just use 6 months to mask it.

emmanuelewumi:
18% per annum is okay ooo.


The higher the risk, the higher the interest rates.

Less risky loans can be gotten for between 10% and 14% per annum

Here in lies more than 40% of our problem not just with loans but with rate of unemployment. Many busy people at home and abroad have idle money in the bank that they would have love to invest but this our problem has burnt too many fingers that they would rather give Meffy at 0.5% and be assured of getting their money back than build one factory that siblings, relations and workers will stripe to it carcass.
We call it smartness or sharpness. Na we de d ourselves sha.

emmanuelewumi:
Very few Nigerians are credit worthy, the average Nigerian is not honest.

Iemployers

This message is for the less than 5% who are either financially literate or at least make effort to learn.
People will listen to you more if you say they need to start accumulating assets that makes it easier to get visa to japa.

emmanuelewumi:
For starters we need to start accumulating assets acceptable to financial institutions if you hope to get a credit facility later in the future or better still get a job in a reputable organization and they borrow against your cash flow.


That is why real estate needs to be open up in such a way that investors can get credit facilities based on their real estate investments and cash flow from the investments.

The major reason for this is because by default Nigerians do not like to pay back both private, public and institutional loans. If you have time, follow any of the loans shark apps and see how people boldly say they do not intend to pay back what they consciously borrowed.

I can't count the number of things you have talked about being given loans or margins on this forum, why do they give you? It is because you have shown credit worthiness.
All of us have to first work on our credibility issues before accusing financial institutions of not giving us loans when the ones they have even manage to give they are having problems recovering.

emmanuelewumi:
What are your suggestions on how to increase credit facilities to Nigerians and businesses?

We also need to consider the ability of the borrower to pay back the loans

I can say the percentage of customers enjoying credit facilities from financial institutions is less than 1%

Small by small you are beginning to exonerate Meffy.

Even though I benefited from high TB interest rate, I also began to understand when rates were going down that it made sense to reduce it since even at low rates it was still getting oversubscribed, which means that whatever purpose TB serves of mopping up cash could be achieved even at low rates. Some will argue though that the low TB rates necessitated some people to now look towards the USD which invariably increased demand.

jedisco:
The funny thing is that it that TBs were always oversubscribed yet CBN kept the rates extremely high...  Some might argue it was a chicken/egg situation and it's difficult to say which caused the other...

Now I'm not an economist, but basic principles will state that if I'm a lender and too people are lining up to borrow from me, the sensible thing will be to reduce my borrowing rate and save the money... But maybe folks see things differently...
Already, most pension funds e.tc are constrained by law and would partly remain stuck with TB or bonds irrespective of the rate... So why did the rates remain that high...


Another brunt is that everyone had to pay higher interest rates to get credit facilities. Rates that are extremely high and difficult to break even with... Bank loans to companies would usually be higher than the government borrowing rates... Meaning industries who really needed such bonuses were forced to borrow at higher rates and also keep up with inflation. Little wonder a number od companies went under then.

In summary, while the TB rates and economic situation then could seem  like a chicken-egg scenario. Looking back, I believe those exorbitant rates played a large part in the inflation and devaluation in the years following.....

Which story are you guys referring to?
I hope this is not a case of a competitor giving a dog a bad name to hang it?

dorodee:
That story really made me not to start looking for alternative to Nasco.

If he said Nigeria I would have no problem with it, but he said in the world.
Ordinary immigrants for US de earn more than 1k2 USD in a month and they are not even average earners.

As for this graph, I think it does capture Nigeria and many African countries appropriately

emmanuelewumi:
Hope you saw this? Do you agree with this?


Probably less than 1 million people will make $20,000 per annum

The world's wealth is not evenly distributed but saying that earning 800k in naira puts you among 10% in the whole wide world to me is stretching it too far. Even though I haven't done a properly analysis, I still do not think it is correct

Tobex4realTobex234:
The wealth in the world is unevenly distributed. I agree with the concept of universal basic income, if not, the gap will continue to widen.

Baba, e b like say u go on sabbatical b4?

NL1960:
Page 2000. Make i mark space for here before it goes to page 2001.