₦airaland Forum

Many of those people you guys call agberos in a condescending manner are actually rich. That is why they kill to head NURTW.

Phraences:
All those social media influencers are either abroad or have the means of jetting abroad. Instead of them to call for dialogue, they where busy sponsoring protests all throughout Nigeria. The stories about SARS are horrible but you cannot wave a magic wand and solve the problem. I am starting to see what Segalink saw that made him pull out and call for dialogue The protest was bound to degenerate.

We not only have bad police officers, we also have bad violent people living among us. Agberos, Thugs who smoke hemp everyday. Add them to poor hungry people, then you are calling for an explosion.

The protest organizers were deceived by the people they saw in Lekki. They think everybody is ajebutter.

One Dr. Olufunmi was even saying that if people protest for 30days, UN will step in. Which means, dialogue is not your goal. No matter what the Govt does, you will never believe. Is that not foolishness?

Pardon the lengthy post, i am trying to relieve my tension.

This may further explain your point if it turns out that it was actually the barcode scanners that were removed and not CCTV cameras.

Governor Sanwo-olu this morning on Arise News promised to release CCTV footage of events of the Lekki massacre to the public. in an interview with the TV station he debunked claims that the cameras removed were security cameras. He stated that they were cameras for scanning e-tag barcodes.

He also stated that the decision to turn of the light at the toll gate was that of the private firm who owns the LED billboard.

We are waiting for him to fulfil this promise.

ositadima1:
People were killed but not by d Nigerian Army. Most of d recent killings were perpetrated by hoodlums and thugs. It is unfortunate dat some people seized d opportunity to kill one another.

I second this.
@Ahib and the others, please let us respect why we are on this thread. We can all use the political section for matters relating to politics.

Dum20:
Oga Ahib,

I beg you in the name of any deity you believe in to leave this thread alone and stop bringing political discussions here.

The thread we are in can be found in the investments section of nairaland. There is a political section please i am pleading with you.

I have a lot of respect for you but please let this stop.

This was how Stockmarketnigeria.com crashed.

SMN was the place the best brains in the nigerian stock market congregated to analyse the NSE and have robust discussions until some idiots came and muddled the whole place with political talk. The site is no more.


Please move all your political discussion to the politics section, there are enougth threads there.

Thank you

This has to end

Things are getting out of hand

How you mean?

ahiboilandgas:
the paper Money is the greatest smart moves to keep certain people rich ....

lol... We non de observe this rule for money matter o. When we set goal to 10 million, once we reach there, we go rearrange the goal to 50 million.

ahiboilandgas:
From Robert Greene's Book The 48 Laws of Power.

LAW 47

DO NOT GO PAST THE MARK YOU AIMED FOR; IN VICTORY, LEARN WHEN TO STOP.

"The moment of victory is often the moment of greatest peril. In the heat of victory, arrogance and overconfidence can push you past the goal you had aimed for, and by going too far, you make more enemies than you defeat. Do not allow success to go to your head. There is no substitute for strategy and careful planning. [b]Set a goal, and when you reach it, sto[/b]p."

Sir, let this slide. No need for this. If possible edit the content, u na bros no need to de pull shirt to join fight

NL1960:
Continue. If una great great grand papa did not sell their people as slaves and handed over the country to colonial masters, you think say dem for colonise us.

Oga Emma, do you think the stock market will allow the bears take over in the light of these economic uncertainties?

Transatlantic, what direction is the dollar likely to go?

Sir confirm again if you mean Apapa to Ikeja being this amount?

ahiboilandgas:
am particularly happy the protest is coming to Apapa port ...the biggest extortion snydicates in Nigeria are Located from stadium to warf ....this more than SARS and arm robbers coming .....they collect over 120k to 200k to allow a single truck load from stadium to warf at different bribe paying points this has been responsible for high cost of Good cos importers transfer cost to consumer....warf/ikejia was 80k now 450k ....

Looks like the sun's trajectory across the sky has shifted a bit by a few mini degrees.

Do you mind explaining this? Historically, it has led to a lot of wars and bitterness. I think you are mixing culture, national pride with tribalism.

maishai:
It's tribes that build industries, tribalism is the easiest way to build industry........ You can't take banking away from the Jews, you can't take plumbing from the Irish, you can never take machining away from Germans and Japanese.......
Once we get the tribal and political culture right we can move into the realm of economics else waring factions keep propping up

Oga Ahib, please lets this line of discussion end, it will not be good for this thread I assure you. Just don't reply further... Let's try and stick to economics, data and money.

ahiboilandgas:
Am looking at the number of luxury buses arriving Lagos daily from the East is not a tribalism statement.....northerner are also arriving in same proportions in trucks (but are economic migrants hardly own any asset or intend to stay long in Lagos

Too early in the week to wander into political discussions especially one of the most emotional issue in the country. I think we are threading on dangerous ground here.

What should we expect this week, will dollar increase? will the stock market continue its rally? How will CBN react to the effect of #endsars on the economy. Considering how this year has gone with Covid and now #endsars, what will the financial report of this year? How many companies will survive this unprecedented year?

WE really need to stay off politics here, let us not kill this thread.

This has been a year. The story of 2020 will continue to be told many years from now.

We have lived this far, may God continue to protect us.

Bros explain wertin oga Emma tell you make we follow learn. I remember this conversation you are referencing but not sure I understood it.

ahiboilandgas:
Never knew my posts where liked by many, i was just motivating and explaining my expirences and I also learn new things here example mr Emma explain the secrets of how people earn dollar income as rents in Nigeria ...Dr Faruk umar mention it some time casually to me that he earns around 100k dollars from a particular property but never told how until mr Emma.
You have 15293 total likes and 754 total shares......

The truth is that rather all the bickering, folks should have used their report button. When many people report a particular person, the system will ban him.
The negative energy was very unnecessary.

Desanta:
Hmmm.
Some sanity at last.
Now we can concentrate on making genuine investments.

All the tech guys don de come out small small. Na who know go know say your moniker non be native name.

arduino:
Ositadima1 dey use Python, Pandas, numpy, scify and matplotlib brush teeth.
I go like borrow his laptop for only one week.

That is great.

I see you are also a mathlab guy. I have no doubt in my mind that you will be a success. I have been observing you for a while now and I can guess that you are looking for a pattern in all of these seemingly looking uncoordinated data. Once you find and develop your model, u don turn expert be that and that will put you ahead of the pack and remove most of the guess work analysis that many of us indulge in.

ositadima1:
In due time Sir, as I am acquiring more skills in data science I will be using them to analyze our economic climate and of cause post them here and in d other thread.

You are a man of data. I do admire your tenacity. Data analysis is a great field both for personal and professional use, it puts you ahead of the pack.

Still waiting for your FUGAZ analysis you said you would look into.

ositadima1:
Some fun facts: 364 Days NTB

a) If you have been compounding at the best rates ur return would be 253% from 2012 to date(effectively tripling ur money and more).
b) at worst rates ur return would be 117% from 2012 to date.
c) on average ur return would be 185% from 2012 to date.

Clearly they are different, but it is not easy to come up with another innovative product like that o.
The years ahead will determine if they are good entrepreneurs or not. I pray they are not a flash in the pan.

emmanuelewumi:
These guys are smarter than that, they are enterpreneurs and solution providers, they are different from sports and music stars..

Anywhere in the world it is a lot of money, but if left static and you are just plucking from it without growing it then it will become small.
It is what happens to footballers not long after they retire. That is the context I was talking from

emmanuelewumi:
$200 million is big money in Nigeria oo. The founders are young guys in their 30s, they always start new businesses and make new innovations

It is the only way to go.

Put all the brains to good use. It is only in tech that you can grow from zero to multi billion, every other industry requires some form of political patronage or knowing someone who knows someone.

Tik Tok go fit feed WEst Africa I believe

ahiboilandgas:
I swear it beyond just oil but innovations...this almost 10m barrels of oil

I wrote my 1% before I saw this. But most times the buyers would not want the seller to have any meaningful stake. 20% is high o.

emmanuelewumi:
I would have preferred selling 80% of the company for $160 million and the founders will maintain 20% ownership of the company

lol... Of course, that is natural. they all do.

I recall reading a story of a guy who kept developing the same app after selling it as soon as he ran out of money.

$200M na small money if they do not invest it properly. Tax go wipe out a significant part of that money sef and I do see how Trump will allow that money move out of the USA economy, so I expect a staggered payment or some very funny payment terms.

If I were to ever sell something like this, I will always find a way to insist on having even if it is just 1% stake in the business. I like recurring income a lot. One gbosa payment can also disappear in one gbosa

emmanuelewumi:

They can suffer from seller's remorse later in the future

The business was bought for $200 million by the buyer, could be worth $1 billion in the future

This is a direct acquisition, I think it is different from Health plus scenario.

emmanuelewumi:
Good news, smart guys and businesspeople are cashing out big time.

I hope they won't say they were sacked as the CEO and CTO of the company, sometimes in the future.

The case of Health plus Pharmacy is still fresh.

If Nigeria wants to increase her forex earning then our digital gig economy and tech based innovations has to be encouraged.

Stories like this makes me happy.

When Stripe announced earlier this year that it had picked up another $600 million in funding, it said one big reason for the funding was to expand its API-based payments services into more geographies. Today the company is coming good on that plan in the form of some M&A.

Stripe is acquiring Paystack, a startup out of Lagos, Nigeria that, like Stripe, provides a quick way to integrate payments services into an online or offline transaction by way of an API. (We and others have referred to it in the past as “the Stripe of Africa.”)

Paystack currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions, and online betting companies, and the plan will be for it to continue operating independently, the companies said.

Terms of the deal are not being disclosed but sources close to it confirm that it’s over $200 million. That makes this the biggest startup acquisition to date to come out of Nigeria, as well as Stripe’s biggest acquisition to date anywhere. (Sendwave, acquired by WorldRemit in a $500 million deal in August, is based out of Kenya.)

It’s also a notable shift in Stripe’s strategy as it continues to mature: typically, it has only acquired smaller companies to expand its technology stack, rather than its global footprint.

The deal underscores two interesting points about Stripe, now valued at $36 billion and regularly tipped as an IPO candidate (note: it has never commented on those plans up to now). First is how it is doubling down on geographic expansion: even before this news, it had added 17 more countries to its platform in the last 18 months, along with progressive feature expansion. And second is how Stripe is putting a bet on the emerging markets of Africa specifically in the future of its own growth.

“There is enormous opportunity,” said Patrick Collison, Stripe’s co-founder and CEO, in an interview with TechCrunch. “In absolute numbers, Africa may be smaller right now than other regions, but online commerce will grow about 30% every year. And even with wider global declines, online shoppers are growing twice as fast. Stripe thinks on a longer time horizon than others because we are an infrastructure company. We are thinking of what the world will look like in 2040-2050.”

For Paystack, the deal will give the company a lot more fuel (that is, investment) to build out further in Nigeria and expand to other markets, CEO Shola Akinlade said in an interview.

“Paystack was not for sale when Stripe approached us,” said Akinlade, who co-founded the company with Ezra Olubi (who is the CTO). “For us, it’s about the mission. I’m driven by the mission to accelerate payments on the continent, and I am convinced that Stripe will help us get there faster. It is a very natural move.”

Paystack had been on Stripe’s radar for some time prior to acquiring it. Like its US counterpart, the Nigerian startup went through Y Combinator — that was in 2016, and it was actually the first-ever startup out of Nigeria to get into the world-famous incubator. Then, in 2018, Stripe led an $8 million funding round for Paystack, with others participating including Visa and Tencent. (And for the record, Akinlade said that Visa and Tencent had not also approached it for acquisition. Both have been regular investors in startups on the continent.)

In the last several years, Stripe has made a number of investments into startups building technology or businesses in areas where Stripe has yet to move. This year, those investments have included backing an investment in universal checkout service Fast, and backing the Philippines-based payment platform PayMongo.

Collison said that while acquiring Paystack after investing in it was a big move for the company, people also shouldn’t read too much into it in terms of Stripe’s bigger acquisition policy.

“When we invest in startups we’re not trying to tie them up with complicated strategic investments,” Collison said. “We try to understand the broader ecosystem, and keep our eyes pointed outwards and see where we can help.”

That is to say, there are no plans to acquire other regional companies or other operations simply to expand Stripe’s footprint, with the interest in Paystack being about how well they’d built the company, not just where they are located.

“A lot of companies have been, let’s say, heavily influenced by Stripe,” Collison said, raising his eyebrows a little. “But with Paystack, clearly they’ve put a lot of original thinking into how to do things better. There are some details of Stripe that we consider mistakes, but we can see that Paystack ‘gets it,’ it’s clear from the site and from the product sensibilities, and that has nothing to do with them being in Africa or African.”

Stripe, with its business firmly in the world of digital transactions, already has a strong line in the detection and prevention of fraud and other financial crimes. It has developed an extensive platform of fraud protection tools, but even with that incidents can slip through the cracks. Just last month, Stripe was ordered to pay $120,000 in a case in Massachusetts after failing to protect users in a $15 million cryptocurrency scam.

Now, bringing on a business from Nigeria could give the company a different kind of risk exposure. Nigeria is the biggest economy in Africa, but it is also one of the more corrupt on the continent, according to research from Transparency International.

And related to that, it also has a very contentious approach to law and order. Nigeria has been embroiled in protests in the last week with demonstrators calling for the disbanding of the country’s Special Anti-Robbery Squad, after multiple accusations of brutality, including extrajudicial killings, extortion and torture. In fact, Stripe and Paystack postponed the original announcement in part because of the current situation in the country.

But while those troubles continue to be worked through (and hopefully eventually resolved, by way of government reform in response to demonstrators’ demands), Paystack’s acquisition is a notable foil to those themes. It points to how talented people in the region are identifying problems in the market and building technology to help fix them, as a way of improving how people can transact, and in turn, economic outcomes more generally.

The company got its start back when Akinlade, for fun (!) built a quick way of integrating a card transaction into a web page, and it was the simplicity of how it worked that spurred him and his co-founder to think of how to develop that into something others could use. That became the germination of the idea that eventually landed them at YC and in the scope of Stripe.

“We’re still very early in the Paystack payments ecosystem, which is super broken,” said Akinlade. The company today provides a payments API, and it makes revenue every time a transaction is made using it. He wouldn’t talk about what else is on Paystack’s radar, but when you consider Stripe’s own product trajectory as a template, there is a wide range of accounting, fraud, card, cash advance and other services to meet business needs that could be built around that to expand the business. “Most of what we will be building in Africa has not been built yet.”

Last month, at Disrupt, we interviewed another successful entrepreneur in the country, Tunde Kehinde, who wisely noted that more exits of promising startups — either by going public or getting acquired — will help lift up the whole ecosystem. In that regard, Stripe’s move is a vote of confidence not just for the potential of the region, but for those putting in the efforts to build tech and continue improving outcomes for everyone.

https://techcrunch.com/2020/10/15/stripe-acquires-nigerias-paystack-for-200m-to-expand-into-the-african-continent/

Whereas inflation in the US stands at around 1.4% and TB is around 0.13%.

Interesting, it looks like both have a correlation of close to 10% TB rate to inflation rate

ahiboilandgas:
Wonderful .inflation above 13 t.b 1 percent .....strange country...

Is it possible that certain or all banks move in the same way and not just these two?

ositadima1:
Zenith vs GTB ?

The two stocks are highly correlated meaning that if you have both in ur portfolio then u are not diversifying - they are affected by happenings similarly.

From d excel sheet bellow if u buy in January and sell in December each year, ur returns will be like so. GTB has done much better in terms of returns over d periods in consideration.

Notes:
1. Historical data was scrapped off investing(dot)com with a python script.
2. The correlation coefficient was calculated with Pearson method (statisticians in d house )
3. I didnt consider dividends sha.
4. Finally, thank God for python language

@Digitizedman and other experts, kindly address this.

waleayeni1:
I greet you all. Please educate me. BISS and autoroll only applies to accessing paid content for free right? Does it have other properties? Also I would like to know what the multistream functionality in satellite receivers does

Oh, in that case, it may be hard.
I think they have a way of doing BVN in various embassies, no BVN no account in Nigeria again.

Igbosmoker:
no that's the issue

She should be able to get online access. Our banks have grown over the years and are able to accommodate a whole lot of things now a days
Hope she has BVN?

Igbosmoker:
so how will she see alerts and bank accounts?