₦airaland Forum

If you wanted Wednesday's bid then your application should have been with them latest Tuesday with the funds in your account. Coming on Thursday means you want to buy from the secondary market.
Yes, it is not uncommon for banks not to have successful bids but hardly for that reason he gave anyway. Usually happens if their bid was higher than what CBN is offering.

abdulahi001:
Okay, I guess I should have told him that, I'm only interested in the auction of yesterday which was the primary market? Is that correct?

Also, he said first bank was unable to have any successful bid yesterday because their network was bad, how true?

He is probably right, other guys could have snatched up the available 7.1%.
Secondary market is usually what is available when you miss out at the primary market.

abdulahi001:
Please my people, what do I call the bidding of every two weeks of Treasury Bills 'cos the guy I met at this first bank branch is talking gibberish.

Yesterday, he said it's only 7.1% available and today it's only 6.1% available. He said those are the secondary market rates. I was trying to explain to me the stop rate yesterday was 7.35% but he wasn't listening.

Please Oga Emma and Co, come to my aid.

He should do that as a matter of urgency. No need to protect the person even if he is a friend. How can you send an innocent friend to his death in an Arab nation, even certain enemies will not go this far.

Esseite:
How do you delibrately send a man to death..

He should give NDLEA the contact of whomever gave him that package.

I just read this again, lot of sense in one post.

ultron12345:
1000 cows is even small.

There's a dairy company called Almarai in Saudi Arabia. They milk over 22 litres per day each cow, and they have 94,000 cows. They produce 1 billion litres of milk annually. They process this milk into different products. They have 38,000 staff, do $3.9B in revenue annually, with market cap of $13.1B (that is packaged Fulani herdsmen company = dangote cement x 2, or dangote cement + MTN Nigeria)

They do their dairy farming in the Saudi desert. They imported management from Ireland. Imported all their cows (modified breeds). They even had to put AC (air conditioning) in all the farm sheds for all the cattle to protect them from the harsh desert heat which can sometimes reach as high as 45C. Since they can't grow grass to feed the cattle, they bought land in Argentina and the US, grow the grass there then import them to Saudi Arabia to feed the cattle.

All this struggle and stress yet they are able to produce products that in terms of price are competitive in the international market, hence they also export to other countries. If it's Nigerians, they'll come up with 1000 reasons why it can never work and blame the government. Nigerians will be waiting for Dangote or indians/lebanese/chinese. If Dangote does it finally, they'll say it's monopoly. If it's Lebanese or Indian, theyll say it's money laundering.

Fonterra, a dairy cooperative owned by 10,500 farmers in New Zealand makes $12B in revenues exporting milk and other dairy products. That's 30% of the world's dairy exports, from tiny New Zealand.

Chiquita is doing $3B in revenue growing ordinary bananas in South America and selling in US. Dole does $4.5B doing same along with ordinary water melon and pineapple.

Ecuador, Philippines, Columbia, Costa Rica, Guatemala make $3.3B, $1.9, $1.6B, $1B and $1B annually from exporting ordinary banana. Ivory Coast and Cameroon get $340M and $250M from the same banana. Nigerians will be blaming government. Thank God banana is not an electricity intensive business. I wonder what excuse will be given for this. It's labour intensive and we have cheap labour, cheap land, conducive tropical climate and a weak currency, yet we can't do anything.

All these are the kind of things we need in this country, this is what will grow our economy, not coding another ride-hailing app or biscuit ordering app.

Even if we want to do tech, we should go for IT outsourcing like India, not to be coding apps that our people are too poor to use. Where we can use our massive university educated and cheap labour resources to provide labour intensive IT services to companies in the developed world. Instead of them playing Americans $60,000 per annum, they'll outsource to Nigerian companies at quarter that price. This is what TCS, Infosys, Tech Mahindra, Wipro and many others do in India. These 4 companies employ 450000 (yes, not 4,500, not 45,000 but 450,000. Four hundred and fifty thousand employees), 242000, 125000, and 175000 people respectively and made $23B, $13B, $5B and $9B in revenues respectively. Over 95% of this revenue is "exports", meaning the money came in foreign currency. And they have over 20 of such companies in India, employing in hundreds of thousands. Imagine we had just one in Nigeria. But no, it's only hotel and filling station we can build. Ordinary call center, we could not do. We had to wait for an Indian company disguised as an "African Company" to come and get BPO contracts from our Telecom companies. That Indian company is employing thousands of Nigerians across several locations today. Only in Ibadan, they have over 2000 staff at their call center. All this while Nigerians blamed the government.

As we talk about making policies for ease of business, we should also ask, making these policies for who? Because it seems Nigerians are not ready to do anything apart from blaming the government.

So sorry to digress oo, back to your post.

I don't like the idea of CBN or government owning enterprises. They should just create policies and try to make things easier. In my opinion, the CBN is really trying, one can get low interest loans through the bank of agriculture and bank of industry. CBN is now the one doing the work of ministry of agriculture.

Even if they must own farms, they should have minority stake of 40% maximum, so that the private shareholders make the decisions. Before some stupid Nigerians enter government and kill the farm by using the management positions to reward their incompetent friends and relatives.

Thanks a lot
I just remembered that I have a raspberry pie that I haven't used, I'd like to believe I will be able to deploy it for something like that.

Barezzi:
You can combine both and get a PLC or node-red or discrete controls to drive all your contactors. You can even incorporate current sensors to allow grid supply or disconnect the loads if consumption exceeds a certain threshold.

Nice idea, the only challenge with this is that if by 430pm there is no power from the utility, the loads will still keep taking power from the inverter which I do not want.

Barezzi:
I assume all your loads are on the inverter output.
I also assume your inverter switches to "pass thru" mode when connected to the grid.

Install a suitably rated 2NC contactor on the Grid supply to the inverter.
Install a timer switch and a victron bmv700 battery monitor in series with the coil of the contactor above.
Set timer "on" time to 10am and "off" time to 4.30pm.
Set bmv700 SOC "on" to 100%(battery full) and "off" to 80%(or any level between 50% and 100% that suits your fancy)

Grid > 2NC Contactor > Inverter > Loads

Both conditions above must be met for the contactor to energize and disconnect the grid supply to your inverter.
If before 4.30pm the battery level drops below 80%, the contactor will de-energize and restore grid supply(if available) to your inverter.

A 2NC contactor is used to eliminate vampire current draw by the contactor at night when there's no solar.

Hmmm, won't this solution still allow the inverter to be charging when there is utility during that period of the day? It think it does.

Barezzi:
Alternatively, install a 2NO contactor on the output of the inverter if your loads are not normally on inverter e.g Aircon, fridges etc
Hook up a suitably rated ATS downstream of the contactor.

Inverter > 2NO Contactor > ATS < Grid

Connect your loads to the ATS.
The contactor will allow or deny inverter supply thru the ATS to your loads based on time of day and battery SOC, else they remain on the grid.

If you started using it this year and it is just the middle of the year, that suggest that your strategy may be able to do 100% because right now it is already sitting on around 50%.

ositadima1:
The mean reversion strategy is still doing well, I haven't been able to make another as good as that one. Up 45% (probably more, given that I exited mansard earlier so avoiding some % reduction) since January. The latest stock is CHIPLS, was the worst performing stock from high last month closing at 0.6. Now at 0.71, with a decent 16% profit.

I also want to mention that slippage is also an issue, not been able to get these stocks at advised price.

My test 1 mil is now 1.48 mil, not bad.

I am trying to come up with an automation design, perhaps you can advice or suggest.

The workflow will be something like this.

From 10am, whether or not there is Utility, switch loads to inverter, as long as the battery is full. (I am hoping the battery state can be gotten from the charge controller because it has a comms port, CC type is Epever)
otherwise stay on utility and check again every hour
At 4:30 pm, change over to Utility.

Anyone with a way to achieve this? I think these R3 are located to specific loads, right?

ojeysky:
A few R3 Basic DIY 6.5k for unit price and 6k for multiple(>3). Can flash with tasmota before shipping for those interested

Is it different from this one, because this one is on page 2 of this thread?

RENOWNED2:
Make una help me with sales letter abeg.
God bless.

iykepromotions:
The domain sales letter.

A newbie may be wondering what a domain sales letter is. Well it's one of the other ways to sell a domain fast..... I mean very fast. Its a professionally written sales letter used in contacting potential end users. Now this is not complicated... An end user is a company that may be interested in buying your domain name. At times they may not notice the availability, you simply contact them using the domain sales letter.

How to contact end user; An experience.
I bought a trafficless domain however rich keyword . such domain, if parked will not bring much due to the traffic. before I paid for it, I went to Google to reaffirm the popularity. And yes there are several companies bearing similar keywords. I bought the domain and contact the companies through their website and whois info. A reply came from one of them; a company in the UK. Deal was reached and transaction was closed within 8 days I bought the domain name. That was my fastest domain sale and was very interesting.

N.B; If you have a domain that has this quality or popularity and you need the domain sales letter, contact me directly @ Ikennaobi44@gmail.com and I will send you a copy for absolutely FREE OF CHARGE.

Edited; Below is the sales letter. No need to send a, mail again;


Sales letter


Hello.
The Premium Domain name CurtisElectronics.com is up for Sale. This is a short and memorable domain name that is very relevant to your business. It is a well searched term in the search Engines so it can help improve your search engine optimization and online presence.

You can redirect it to your current website or build another one on it to capture additional targetted customers and increase sales.


PRICE: $1,350


Visit www.CurtisElectronics.com for INSTANT ownership of the domain Name if you're interested to acquire this premium domain Right away.

We are also contacting other companies that may be interested.

Let me know if you've got other enquiries.

Kind regards
Ikenna

Website : www.CurtisElectronics.com

Oh sorry, I now see what you mean. I'd like to believe they will be able to track it.
I like this your style of trying to invest in it monthly, makes sense.
When I grow up, I will consider this also.

freeman67:
You still don't get me. First off, I haven't said anything about the returns. However, the payment for FGN Savings Bond return/coupon should be quarterly. This particular Bond " FGN Savings Bond" is offered/issued by the DMO monthly except for special events.

When I said I have not been allotted, I meant that at least by now I should have gotten the allotment notice. Shortly after the settlement day, the allotment notic should get to all subscribers na..They are supposed to be done with June before the commencement of July.

For your third and final point, you are not always fine just because you filled form and transferred money to them ooo. Sometimes things could go wrong if you don't keep tabs on them. Even the last SUKUK I did; filled the form, payed and was issued allotment had issues when I was to get my Rental Pay. It was when my broker got tire of my disturbance and transferred me to those incharge at the CSCS that I figure out they made a mistake while entering my account number into their system for the Rental Pay.

Finally a success story, tired of all the bad news everywhere.

I understood that part but I did not get your complains initially.
Okay, maybe your expectations were wrong in the first place. From what I understand about your complains, these are my contributions. First off, bonds do not give returns monthly, only HYIP promise that, most of them pay biannual while FG bonds I believe pay quarterly.

When you say it was not allotted to you, I'd like to know how you arrived at these, because I know it takes a while for them to do their in house cleaning up before they communicate the details to you, that is if they even do.

As long as you filled the form and did not just transfer the money to their account just like that, I'd like to believe you are fine. June 2021 is just 7 days ago I believe.

freeman67:
You posted "FGN Savings Bond for the Month of July" as another opportunity. I was trying to explain why I will not consider it that opportunity for now. I tried in the for the first time in the month of June and till now it has not been allotted to me.

Oga, you are taking this matter too personal. Tenant vs Landlord wahala non de finish, non be u wan use Nairaland resolve am.

But as per bolded, that means if the rent was 1 million, he just increased it to 1.6 million? Is that correct abi I need to press my calculator again?

NL1960:
My landlord once gave us a 60% increment after 2 years. What can you say to that as a landlord?.

I do not understand this at all

freeman67:
It is meant to be a monthly thing and I would have really enjoyed with a dedicated amount. But then, the First time I tried it was June 2021. The money left my account immediately before settlement but as I am typing this, I have not gotten the allotment. I have contacted my broker severally on it but was told it hasn't been allotted. I don't know where my money is and the terms/condition of the Investment. That is why I am not going to try this one now.

Another opportunity exist here.

On behalf of the Federal Government of Nigeria, the DMO is offering for subscription, 2-years and 3-years FGN Savings Bonds at the following rates:

2-Year FGN Savings Bond due July 14, 2023: 8.35% per annum
3-Year FGN Savings Bond due July 14, 2024: 9.35% per annum

It should be recalled that the FGN Savings Bond is a retail savings product accessible to all income groups. The FGN Savings Bond provides an opportunity to all citizens irrespective of income level to contribute to national development and enables all citizens participate in and benefit from the favourable returns available in the capital market.
Some of the Benefits to Nigerians include:
• Interest income is paid quarterly directly into bond holder’s account.
• The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
• Good for savings towards retirement, marriage, school fees, house projects, etc.
The features of the FGN Savings Bond are:
• The product will be issued monthly in tenors of 2 and 3 years.
• Interest will be paid quarterly to investors.
• The Savings Bond will be offered to investors through Offer for Subscription at an interest rate to be announced by the DMO.
• There will be no fees or charges for subscriptions.
• The Offer for subscription will be open for 5 days from the date of announcement.
• Minimum subscription amount is N5,000.00 with additions in multiples of N1,000.00, subject to a maximum of N50,000,000.00.
• Accounts of investors will be credited and text alerts will be sent to investors on Settlement Day.
• Listed on The Nigerian Stock Exchange.
• The Bond is backed by the full faith and credit of the Federal Government of Nigeria.

INTERESTED INVESTORS SHOULD CONTACT THE STOCKBROKING FIRMS APPOINTED AS DISTRIBUTION AGENTS BY THE DEBT MANAGEMENT OFFICE. PLEASE VISIT www.dmo.gov.ng FOR THE LIST OF DISTRIBUTION AGENTS.

Tenant and Landlord wahala non de finish.

Look out for the dstv dish

dejidotun2000:
I am also very curious to know how you knew from the pictures that the panels were mounted on the eastern part of the roof.

Okay... The DSTV dish seem to be point in that direction.

Any Abuja installer here?

olopan:
No, it is on the north part of the roof

The sun rises in a almost diagonal path over it

Can you confirm if it is on the eastern part of the roof and if yes how being on the northern hemisphere justifies that.

olopan:
The sun moves over the northern hemisphere at location

Kindly check attached compass and note the sun path

I am very curious to know why those panels was mounted on the eastern part of the roof?

olopan:
A very big thank you to iygeal, for trusting us with his PV installation of 3.645KWp of Jinko 405W panels

His hospitality, care, even giving us helping hands when needed and giving us an enabling to allow us work freely went a long way in boosting our team spirit

We look forward to working together again soon.

The roof surface w.r.t angle of inclination was 45° after correction we arrived at 18° inclination.

Nice one you have here.
With regards to your setting, you may want to pay attention to Adrusa's comment on the issue. You can also decide to go through the highly enlightening back and forth between him and Niyi.

litaninja:
I have not yet carried out a capacity test, maybe later in the week, i'd just turn of my Grid and solar input, then go from full charge and see how much energy the inverter records as output over the course of the day.
I'm currently using Bulk charging at 28.2v, Float at 27.2v, Max Charging Current at 40Amps, Equalization turned off on the MPP Solar. Any recommendations to improve on the settings are welcome biko.
I would have taken it apart just to see the insides, but the whole thing is riveted! , I'm sure this is to prevent warranty issues as well. Lmao.

From the ventilation silts, it appears it may be a Daly BMS inside it, although they seem to have sprayed their own name on it . Worst Case, I 'd rip it apart and install a BMS of choice, but do i really need to access the BMS? Not sure so far. Afterall, I was using Lead Acid before now.
So far though, I'd say not too bad for the price of a spleen @ #425,000, with a warranty of 5 years, not too bad at all.

adrusa:
I don't know what else "lithium profile" on a charger mean other than setting bulk, absorption and float voltage to the same value and disable equalization. That is exactly what happens when I select "lithium profile" from victron charger. As to the fear of continuous float charges on the battery, the BMS usually does the remaining. When my lithium batteries enter "float" the current meters read zero.

So, if you have a perfectly good charger (inverter or Charge controller) on which you can modify the charging parameters, I don't see the need to waste extra money on any "lithium" profile, I honestly think it is a scam for manufacturers to make a little extra money on selling their inverters and chargers.

Will they accept his 10M, I thought it is usually 50M minimum?

Lazyyouth4u:
Last week, March 2027 bonds were issued at a marginal rate of 12.74%. You can use this rate (or say 12.5%) to get a rough estimate...

I recall there was an argument here not too long ago about the justification for the increase in the reported number of imported cars for the year 2020 when numbers were expected to be low considering it was a pandemic year.

Well, while going through a thread on yahoo yahoo guys, someone made the comment below which to me seems reasonable enough.

yahoo paid big this year because of covid. Benefit is for those who lost their jobs, unemployed or have their business collapsed .
We also have SBA loan paying up to $40k which some got but some people never got theirs approved
Everyone knows this and now that people are getting back to work in usa, benefit is harder this year than last year 2020 and thats why more people bought cars in Lagos in 2020 than 2021

Fake driver's license with this new type of license. I don't understand

How are they first? What of Meriterm, Morgan. i-invest and other digital platforms that we have been using to trade?

Tobex4realTobex234:
Not bad

Yes, my intention was to do yearly but I inadvertently went to do month, which now gave a wrong value from what I said so I have had to delete my statements.

NL1960:
"If you use this rate to invest $1K every year at 5.5%PA"

It was this quote in your initial post that iam pointing out. $1k every month will give that amount of almost $1B but you said $1k every year in the initial post.

I think I messed up completely.
I inputed wrong values

NL1960:
You initial post said $1k every year. This breakdown is showing 12k every year.

My apologies. Inputted wrong values

jmanity:
How did you get the 1billion?

To whom it may concern

Thanks for your clarifications. I think I never really saw bonds as buying in units just like shares, always saw it as a lump sum like TB, guess without that out of the way, a lot of other things did not add up.
From your explanation, a man who invest 1M at N100 per unit at a rate of 15% would have 10k units.
When the rate increases from 15% to 20%, then the price at the secondary market will become (100*15/20) N75.
Similarly, when the rate reduces from 15% to 10%, then the price at the secondary market will become (100*15/10) N150.

Since the initial quantity bought with 1 million has not changed, then the value will change accordingly as shown in the illustration below.

Confirm if this is correct sirs.

emmanuelewumi:
You bought bond in the primary market at N100 with a coupon rate of 15%.

If interest rates go down to 10%, the price of your bond will appreciate to N150 in the secondary market. 15 divided by 150 will give 10%

If interest rate increases to 20%, your bond will depreciate to N75 in secondary market. 15 divided by 75 will give you 20%


The yield from your bond will tally with the prevailing interest rates.

ositadima1:
Face value is the money amount the bond will be worth at maturity; it is also the reference amount the bond issuer uses when calculating interest payments. For example, say an investor purchases a bond at a premium $1,090 and another investor buys the same bond later when it is trading at a discount for $980. When the bond matures, both investors will receive the $1,000 face value of the bond.


The coupon rate is the rate of interest the bond issuer will pay on the face value of the bond, expressed as a percentage. For example, a 5% coupon rate means that bondholders will receive 5% x $1000 face value = $50 every year.


Coupon dates are the dates on which the bond issuer will make interest payments. Payments can be made in any interval, but the standard is semiannual payments.


The maturity date is the date on which the bond will mature and the bond issuer will pay the bondholder the face value of the bond.


The issue price is the price at which the bond issuer originally sells the bonds.

This bond thing can get confusing sometimes, who can explain in simple layman's English how interest rates affect bonds. If possible use case study of 1 million and 2 different (high and low) interest rates to illustrate.
Thanks in advance.

XiaoLi:
Also let him know that he will lose part of his capital if he liquidate when interest rate is high, this is giving me serious headache now..i bought 100 units from primary market last year and wants to liquidate now..my bank is telling me that i will lose about 12M from my capital...na only once i don chop coupon, next one should be next month.

Assuming I have more than 5M worth of shares somewhere else does that qualify me to open an account with them even if I do not intend to transfer the shares?

emmanuelewumi:
Minimum for Stockbroking account opening is N5 million in cash or shares