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As long as government fixes a price, it is not yet deregulated. That's why I always laugh when people say GEJ tried to deregulate PM's in 2012 when he also fixed a price.

DZTech:
u read d tweet:
- https://twitter.com/NigeriaGov/status/1240318731781386242

did u miss it?
lemme ep u joor -
"A Price Modulation Mechanism is being introduced, to be managed by the Petroleum Products Pricing Regulatory Agency (PPPRA), to henceforth adjust the price in line with the market price of crude oil."


so.
d deed is done.
without d slightest hint of noise, protest or discussion.
did I predict dis one dis year?
I'll have to check.
enjoy!

hahaha, "rosaboning" you don add another word to dictionary be that. Where were all these people when TB was doing well to provide us with alternatives to test with a long spoon? Suddenly they just show up from no where with appetizing offers with no clear direction as to how they intend to achieve it in this national and world economy that we are all looking at.

deepwater:
please stop spamming this thread.
come to think of it...
Nobody will trust you, you appear so desperate to have peoples money
do not bother quoting me, i aint rosaboning anything thing with you.
One more word about ROSABON on this thread again, it will be your last on NL.
You have been warned

deepwater:
please stop spamming this thread.
come to think of it...
Nobody will trust you, you appear so desperate to have peoples money
do not bother quoting me, i aint rosaboning anything thing with you.
One more word about ROSABON on this thread again, it will be your last on NL.
You have been warned

This was Emma in July 2019.

emmanuelewumi:
Too much liquidity in the system, FG bond was 200% oversubscribed. I hope treasury bills yield won't get to 6% by December

SEC, PENCOM, Investment community,CBN and FG need to create more risk free or minimal risk instruments and derivatives.

REITs are another instruments that should be looked into by the regulators provided they are appropriately priced.

Hahaha. Make una calm down before blood pressure rise. Nigeria went through one of her worse patch in 2015/16, it's just that this Corona virus just came from no where to be distorting things around the world. Brent fell drastically yesterday because Saudi and Russia decided to be doing negative bidding. ( Who e oyel cheap pass). If Nigerian situation gets bad, it will not be in isolation, it will be because the global economy went bad also.
Somehow we now know how China stands in the world economy. They seem like the highest direct and indirect buyers of oil.na wa

Grupo:
Hmm. This just calmed my nerves. I was almost rushing to GTbank to cancel my last Tbills.

That's my life savings and I'm not joking with it.

Hahaha.

As bad as Nigerian government is we kind of expect them to pay their TB and bond debt, Lebanon just said now they cannot pay their bond debt. Na wa o. No investment is really safe after all.

Lol. I like this guy already, make una give am correct advise abeg.

Wanity:

No boss am between Adamawa and Taraba state.

Am not on a suicide mission

But when ab.okis start this nonsense na?

Andella

oluwaseyi000:
Why we were fired?
I joined this company last year March, they have the highest number of software developers I'm Africa and I was loving life, the salary is great with breakfast and lunch

They keep on employing so many software engineer with time the engineer become more than the available job, I saw it coming but I don't know what the board was thinking

2. How did the firing process happen?
We have a global (online) meeting which people are asked not to miss, I was not even listening very well to what they are saying, the president said there are more developer than engagement to they have to let some people go, a mail was sent to all impacted people and I discovered what has just happened

Almost 400 people has been fired across Africa

3. Aftermath of being fired… how did you feel, have you recovered, did you get something better?

The company is actually a great one, they brought in pychologist to speak with us, bring in different recruiter, and other stuff, most importantly the payoff was reasonable that I can afford a Mac laptop of almost half-a-million

Luckily for me I got another reasonable job in less than 3 weeks of been retrenched

Why, I thought you were in the corporate sector?

igbizen:
Don’t even remember that there is something called certificate

What is your recommendation between these two options? Consider that the person managing it will learn on the job but is not entirely a noob.

Have they released him? I thought by now they will still be searching for the key used to unlock his prison door?

samuelson06:
When there are demons in you, you can't but manifest that they're in you even when you try to suppress them. Except you purge yourself of demons, you can't be free, it will force itself to show the world the stuff inside you. This same agent O is still roaming the forum like agama lizard shaking it's head and looking for people to patronize his services/scams when he had the opportunity of having unending deals. Whoever believes demons don't torment or confuse people doesn't know anything. Demons are tormenting and confusing agent O

Thanks. I'll explore Euro bond and see how it goes.

Dsticks47:
All you need to know about Eurobond check here.
https://www.nairaland.com/4667123/eurobond

For Investment one VDF check my signature.

Who understands Euro bond?

I am no expert but I am surprised to see Access bank in that list, I hear more of negative news about that bank than positive.

emmanuelewumi:
Stanbic is okay, the 5 banks listed are the biggest in terms of profitability, deposits, loans advancement etc.

From the recently released financial reports of 2019 by UBA and Zenith Bank.

UBA made a profit after tax of over N90 billion, while Zenith Bank made N200 billion.

We are expecting the result of GTB and Access Bank this week

What of my new found love, stanbic ibtc? They non make this list?

emmanuelewumi:
First tier banks are First Bank, UBA, GTB, Access Bank and Zenith Bank

Bros, we de do all of them. Even mutual rates have been going down and expectedly so. As long as TB is down, all others will go down because that is what they usually use the money to invest in anyway.

olujaidi:
You can still do an MMF

What bank gives you 4.5% for savings account.
There are a variety of reasons why people do TB, one of those reasons is to mop up their cash so that it is not readily available for temptation to be used.
With present day Nigeria, not many people want their account to be always showing its true value, TB helps you hide cash legitimately.

ahiboilandgas:
Why would any body do a t.b of 2 or 3 percent for 90 days when a saving account gives 4.5 percent per month....rationality is key.....if u leave 10m in a saving accounts it generate 40k monthly (no lost bids ) while tb 23k per months so in 90 day u make 120k while tb 63k ...only if u are biding 1 year

One approach I use for such situations is to approach another branch or another staff in another day. Sometimes you can demand to see the manager.
However, my experience with stanbic is that they have a special form for their USD mutual stuff, not the normal transfer form.

Sach:
Exactly!!!!!! I know they do not accept cash for mutual funds, I have their naira mutual funds. I deposited usd cash in my own Dom acc to transfer to their Dollar fund but they refused.

Stanbic has never accepted cash deposits for their dollar mutual, not sure it has to do with this circular.

Sach:
This is the challenge I am facing right now. I deposited used cash in my dorm account with Stanbic intending to transfer it to their dollar mutual fund, they have insisted that they are not accepting cash deposits. I showed them this circular all to no avail.

Ironically, although I haven't tried using it this way, Transferwise is able to transfer from one currency to another, that should imply that you can transfer from naira to USD. I know you can put your bank details in the platform and use it to transfer with one currency and receive with another currency. I just used mine to transfer from a USD account direct into my naira account, cutting out the need for exchangers.
I suggest you do not do your 50k at once. $10 is what I think will trigger CBN and EFCC.

cucumbar:
Please how do I go about changing my funds to dollars, considering this rumor of devaluation. Who go fit supply me 50k usd upwards? And can I deposit said amount into my dorm account at once?

My interpretation is slightly different from yours based on the wordings of the CBN tweet.
My understanding is that you can cash out both electronic and cash deposits but cannot transfer cash deposits.
So using your case study. The total $1000 can be physically withdrawn whereas you can only transfer the $300 that came in through transfer and not the $700.
The reason I believe is that the electronic transfer always has a trail that can be tracked, the same cannot be said for the cash deposit which will only start having a paper trail from the point when the transfer starts.
I hope I am applying what my night school teacher taught me and not just applying wishful thinking sha.

unite4real:
We have not said anything different from comment you just posted. I posted some tweets screenshots where CBN said u can only transfer what was transfered to you electronically and also cash out only amount that was paid in as cash. I also used figures to explain the scenario. There is no ambiguity here talk less of reading between the lines.

See my comments below.

You can create a USD or Euro account on Transferwise, the platform also allows you convert and transfer your forex direct into your naira account at the prevailing exchange rate. To access the site, click here

olujaidi:
Does anyone know of any options where one can run a foreign bank account without being a resident of a foreign country? Or a country with not so stringent requirements?

@Nnamz, sholapey, ahiboilandgas, emmanuelewumi , donbrig
Cc: all other knowledgeable parties

Lapo has been around for a while and I believe they have a good reputation but I will not be bold enough to put 50m into a microfinance bank because that is still what it is.
I have seen your other comments and I think I have an idea of the challenge of your fbn transactions failing. My personal suggestions will be to spread the money across many banks, maybe in 10m, smaller units tend to have higher chances of success. Another approach is to use the same bank but use small units for each window, that will involve more work both in terms of management and tracking, but desperate times calls for desperate measures.
As for lapo, if I had 50m, I wouldn't do more than 5m. That's my personal risk appetite which could in all fairness be different from yours.

kristien4:
Why did you say so? And what amount would you suggest is okay?. Please respond.

50million into a microfinance bank? I'd have said that's to much to put there.

Donbrig:
@fineguy11, I shall be opening an account with LAPO in their head office in March/April. I intend to transfer about 50m into that account, pls apart from fixed deposit, what other investment options are open for customers? I am not in Nigeria at the moment, but I should be in Benin by next month.

Flee first, ask questions later.

GabinoMarket:
Really? Please tell me more because I have been feeling like I am missing out on something and that these guys are making serious money

Thanks for the suggestion.
I was thinking there was a way to buy from the North and bring to the South. Someone suggested it to me that one can invest about 400k and get around 600,das 200k profit per trip. But I non trust the guy so didn't invest, just needed an independent opinion. Thanks a lot.

emmaodet:
Most of the buyers are also cow butchers.
If you want a model, then write a business plan for ranching.
Join AFAN - All Farmers Association of Nigeria with #2,500 per year and then in the form, fill cow rearing as area of interest so that they can link you with successful cow rears or breeders to enlighten you more.

Is there a model in place of investing in cows that are supplied to slaughter houses? Do you know?

emmaodet:
I believe so.
Search of Google the names i wrote above and go to there websites.
Click on the contact area and call there line to link you with the PH branch though i believe these groups are more Active in southwest Especially Ogun state because a large percentage of ogun/ijebu/egba people are the most business inclined in southwest.
You will also have the benefit of tapping into government/cbn loans like agesmis, anchor borrowers and offtakers programs etc
I never regretted joining them.

The intention of the FG is clear, at least to me. They want more and more people to leave the security of fixing funds and invest in the real economy which is why they keep rates low but the challenge for many of us is what you correctly stated, the business environment in Nigeria is too toxic. From policies to people to power to tax, too many factors stacked against you from the very beginning which is why only the very bold are actively in the real sector.

PerfectMatchNG:
The Nigerian money market has gone bunkers!

It's just crazy!

I called my account officer in GTB to enquire about deposit rates and he confirmed that GTB is offering 1% interest rates on all fixed term deposits up to 50m naira!
Meanwhile, same term deposit in a bank in Canada or US can get one at least 2.5%.

Nigerian Treasury bill (NTB) rates went down as low as 2.5%!

I checked on Stanbic-Ibtc circular this morning and long term instrument - FGN Bond rates in the secondary market is down to almost 6%.

I checked on the FGN bond primary auction results as at 19th february 2020 and the bid for the highest tenure bond is almost 600% higher than the allotted securities, which shows a lot of parties are scrambling to buy these securities with no success.
Which means many financial institutions have billions of Naira sitting idle!

Meanwhile Nigerian inflation rate as at this morning is 12.13%...

So if you have Naira sitting idle in a bank account or even in a fixed deposit, you are losing value as fast as Ben Johnson!

This is the outcome of the FGN borrowing trillions from the pension fund instead of borrowing from the public.

If this trend continues, there will be a lot of Naira chasing the USD...which means the likelihood of a market devaluation of the Naira is inevitable.

Folks with cash deposit depending on interest payouts for livelihood - just a few months ago - will be forced to dip into the principal to pay bills...in addition to suffering the devaluing effect of a 12.13% inflation.

The thrust of the FGN's tough monetary policy is clear - folks should use the money to build businesses and create employment...but the environment is a tough one to risk one's money building a business!

Yeah...It's a tough economic world in Naija today.

Thanks for the clarification.

Sagaciousd1:
Hi Richard, I am quite sure you did not get the question @ojes... asked. He wanted to know if you guys finance transport business and stand as an arbitrator in that line.....The truth is, LAPO does not but a subsidiary does. The partnership between LAPO and those Solar companies are completely different game. @Ojesymsym, work into any LAPO branch, you will be directed to MISS, a subsidiary of LAPO where you will have a seamless dealings in getting your desired transaction done. If you are in LAGOS, do visit LAPO head office in Oregun where you will be directed to a representative of MISS. Safe

fineguy11:
c

Hi, do you guys have a program where people can use your bank to invest in transport business where you guys stand as the arbitrator between the driver and the investor, since you guys have the experience for fund recovery?

Why are you selling?