₦airaland Forum

The instruments that they have been using to mop up cash have been mostly with Treasury Bills, tweaking interest rates and Bonds, yet there is still a lot of cash flying around.

Some fraudulent money end up as USD with no trace as to where the source comes from. With more and more money becoming digitized, some of that will now be more difficult.

The whole idea is to try to do what Meffy tried to do with the currency change but this time starting with the big money bags and not so much as to try to meet up with demands.

Meeting USD demands in itself can only be achieved when our balance of trade improves

BitterTruth0001:
Moping up excess liquidity is not a big issue . All central banks do it from time to time .

The commercial banks still have excess liquidity except CBN has asked them to not keep it in dollars. They will hold it in naira . CBN has a way of moping up naira whenever they want

This is not a big deal and it has no bearing on the demand for USD neither is it the reason why CBN struggles to meet up with dollar demand as you claimed

First of all, you have to look at it from the point of view of CBN trying to mop up cash as they tried to do in 2023.

For ease of conversion, let's assume that the exchange rate is 1k per USD. Your 15k USD will be 15 million. Now to access that 15k USD, you will now have to fund your enaira wallet and use it to exchange the USD. From that point forward, in the eyes of the CBN, that 15 million will be deemed to have been mopped up never to return as cash to society. To be honest, it is still hazy to me but I believe it will be the first step towards mopping up cash in a non destructive way.

Dialpad:
Ok I want to travel and require $15k, with your analysis, how do I get access to the ACTUAL MONEY ?

Hell no, that was not what was said there

Dialpad:
So give me BTA in enaira,how will I spend it at my destination?

This is from a different thread, but I believe it makes a lot of sense.

Pythagoras001:
The currency change would be a short term fix. A long term fix would be making it impossible to spend more than 100 thousand naira in cash without trace. Maximum cash purchase should be 50 thousand naira anything above that should be by card or via Internet banking. Only accept cash transfer into the owners account that is one cannot pay cash into another person account. You pay it into your account and transfer it into the next person account. Create a national housing register with info about the beneficial owners one reason for tax purpose another reason to prevent illicit funds into real estate market. 3 create a national income register where companies report all personal incomes to. It would be alot easier to catch people with unexplained wealth by simple automation. The idea is make it impossible or extremely difficult to spend ill-gotten wealth. A simple example would be ilya Dutch the guy who stole bit coins close to 4 billion dollars he was caught while attempting to launder and then spend the money. Any avenue politicians use to launder money is also available for would be kidnappers.

I am not a financial expert but I have noticed rather strangely that whatever USD amount is made available there are those with cash ready to buy them up. That is why CBN has been struggling to manage the high exchange rate situation.

So rather than try to fight a trend of this type, the CBN can try to turn things around such that people can buy USD from them but only with enaira or whatever digital currency CBN uses. From that point onward, any money that enters as a digital currency will now stay as a digital currency. With time, say about 8 months, a lot of the excess liquidity flying around will reduce and voluntarily find their way as digital currency.

With more people now having to use such digital currency, CBN will have better control over monetary policies. The security situation will also improve because not only will a lot more people start using digital currency for their day-to-day transactions, but cash will gradually begin to reduce, and ransom payment will also become more difficult. All BTA, PTA, Pilgrimage, Form M, or any request for forex will follow this route. It will also help to reduce round-tripping because after buying USD one time, the naira equivalent is now digital. You will from that point find it difficult to round trip since the trail will now be available. This will be far better than the haphazard approach that was used the last time that brought the economy down.

Another beauty of this is that, those kidnappers who for some reason I believe are also stocking USD will push their money indirectly into digital currency, How? you may ask considering that they use the black market for their transactions.

So, here is how even those who patronize the black market will also indirectly have their cash mopped up. For BDCs to also access USD, they will also have to exchange it with digital enaira, so that the money their customers pay to them will be entering the now-bostering enaira.

This is just a draft idea but I believe it can be tweaked further by those who are experts.

One temptation CBN should not fall for is to try to prevent those who legitimately have money in a dom account from accessing it or forcing them to take naira equivalent. It may sound good on paper but Lebanon and Argentina tried it but the result was disastrous.

Start by checking your neutral connection.

JoeSef0:
What could be the issue here
I noticed whenever I'm on inverter and I'm using my phone while plugged in, the phone touch start malfunctioning, even my laptop trackpad and touch also malfunction when plugged in on inverter.. this doesn't happen on gen or NEPA.
Abeg who don experience this thing b4

PS:
I just noticed if i turn off extension socket, the socket light doesn't go off totally until i unplug the socket

No one here seems to mention the smart series of charge controllers from Demuda. Their charge controllers look very decent plus they are smart, have lithium profile and can be connected remotely via their app and the possibility of iOT I'd like to think.

I presently use one of their small PWM and I am presently expecting a 60A MPPT.

HOw much did you get it?

EduTechTainMent:
Yes. It's a used panel. Thanks

Nice one

The sticker looks okay.
This looks like a 250W, I want to believe it is original, I do not see why sellers would want to fake a 250W panel when a lot of people now prefer 450W and above.
I am also guessing that this is not a new panel.

EduTechTainMent:
Original or fakes pls?

Isn't this what a BMS with an active balancer of 2A should be able to do itself?

sintolord:
Enjoy your new upgraded battery. What was happening before was, the cells were not balanced. One cell could be fully charged while another cell could be 50% charged. When you start discharging, once the cell that probably was 50% charged is discharged to 10%, the BMS will shutdown to protect that cell. Mind you, other cells are still probably 50, 60 or 70% charged. This scenario above is why you were unable to fully charge or discharge your battery to 10%. This is where the battery balancer comes in & correct the voltage difference between the battery cells

I thought LiFe04 are not supposed to be charged at voltages higher than 3.65, at least that is what they wrote on my EVE cells.

dacool1:
12.0v is 20% Dod for li-ion 3s configuration. Lfp is fully charge at 13.6v(when the charger is disconnected), 14.4v is the voltage when the battery is still being CHARGED, same thing applies to Lead acid batteries (flooded) charged at 14.2v to 14.6v depending on temperature and while at rest, it's fully charged at 12.7v.
On a final note, depending on your source of information and brand of LFP I'll stick with 12.8v for 80% DOD (to avoid over discharging)

Baba you get mind o. In this era of insecurity, someone that has been mentioning how much he made will now agree to physically meet you? Well, what do I know?
The only reason that people freely mention the money they make is because of some level of anonymity that this forum offers.

Jonwest:
Which state in the east, I visit the east alot especially enugu awka nah my route be that if nah the same zone I no mind drop by make we see. Then run some bottles cause you try for my body for that multiverse

I pray your biz grow from grace to grace and God's favour on

Nice to hear from you

Baba loco

It could be that because the sachet inverter has a lower battery cut off point which seems to give the semblance of a longer lasting battery whereas the battery is been drained low in the process

gadgetplanetng:
Get a good sachet inverter
I replaced a 1.5kv Schneider Homaya (that has been with Schneider since July) with one and the difference is clear.
Battery lasts longer, less wahala.

A similar forum but dedicated to Finance and stock market will be a better bet

Adinije:
NL is not fully back o. It may likely go off again. This thread is really valuable. Can we create an alternative space, maybe a telegram or whatsapp group b4 it goes off again.

Did I just read -300k, usually in a situation like this, it is best to send them a mail to explain what is happening. This will be your defense incase someone is using your account to perpetuate a fraud.

RayRay06677:
Meanwhile, monitor your zenith bank account from last week.

Can anybody explain what's going on, getting unsolicited debits from the bank even when I don't have funds so it's leaving me with negative balance. Once money drops, they deduct. Still at over -300k.

Someone should explain what's happening with zenith bank.

Thanks

3

I believe some folks have made a case for North instead of South before. If I remember the argument correctly, it is that during the rainy season when you want to squeeze as much son from the sky as the sun is usually on the Northern hemisphere but that during most of the dry season that is when it moves to the south.

microgiant:
Note: my panels are installed in the wrong orientation, facing North instead of South.

Check again.

That is not what he said. He said some microfinance banks charge as much as 6% interest rate on loans per month which translates to 72%P.A. He then implied that if they can charge their customers that amount then perhaps they may be able to pay investors up to the amount that was in the sheet that he was replying to.

VeeVeeMyLuv:
He said an individual can get 72% return on investment for a period of one calender year. That's not possible.

Just curios, what is misleading?

VeeVeeMyLuv:
This is not possible

This is misleading

Someone suggested that a mischief maker deliberately inserted that part of the judgement into the written document and I am inclined to believe it. This is not like writing 'he' instead of 'she' or a simple grammatical error.
The part of the judgement was written out in favor of the other individual. It is too big a mistake to be called an error in an official document from the courts.
Beyond politics that error or insertion should be investigated and the culprit brought to book.
Civil servants getaway with too many things, if it was the private sector, a query, demotion or outright sack would be the fate of such an individual.

Is this not a good thing considering that if someone has access to your phone he also has access to these details? I would think it is good that this level of detail is hidden.
To the bros complaining that he needs a token to transfer up to 2m, I also think it is a good thing a token is required for the same reason that if your phone is lost, you can at least be assured that no one can easily move your money out.

It is always good to look at the flip side,

davit:
They actually messed up the app with the update. I can't access my NIN and BVN easily from their app again.

I believe you misunderstood the 140k mentioned by Loco, he said he started with 140k that does not mean that he put that amount in the market and the thing grew up to become 50M.
Between then and now he must have added a lot more and probably also lost some. It is important to get the perspective before someone decides to put some money and go and sleep only to wake up 19 years later to ask where is his own 50M naira.

austinkenneth:
Except in rare mispriced situations...

The capital outlay per investment is higher in real estate while in stocks you can invest small small (like with 140k as mentioned here).

In real estate you face a concentration risk because of the high capital outlay.

... That is the only way to convert 140k to 50m in 19 years, despite so many drawdowns, as has been mentioned here. ( i.e at least a[b] 37% annualised [/b]return over such a long duration!).

...

K is just a number sir. We get another one wen be "N" but e de our second shop. But the real original one na "R", R for original but that one de ware house, only say that one cost na em make we non de display am. Na Hong KOng dem make dat one.

But the "N" de okay for you , how many you need make I go bring am kom?

mctfopt:
My mind was almost blown when I saw 4,428kwh ...then I saw ₦780k. Then I understand you meant 4,428wh or 4.428 K WH

WELL DONE

I don't know about reliability o. My SSD failed up on me in the middle of a project. In short, the HP SMART feature started reading error with it and made it a real only. Anything you save will not be there on the next booting. The luck I had was that I had cloned a HDD because I wanted the much tauted speed of the SSD. I had to fall back to that SSD. In all my years of using computers, I am not sure any HDD has failed on me while inside a PC. They may fail as external but not inside a PC.

Now I want a hard disk and I am still thinking if I should risk it because I do not know if it was a one-off or it is a prevalent situation.

dollarnaira:
SSDs are generally faster and more reliable than HDDs, but are also more expensive. If you need fast boot and load times, improved overall system performance, and can afford the higher cost per gigabyte, then an SSD is worth it. If you need a larger storage capacity at a lower price, an HDD may be the better option.

Copied.

I have tested the above in the days of running python. While my friend's hdd was struggling to load, mine open under 15sec. SSD no b HDD mate; same as lithium not being the mate of lead acid. You can only compare what you have tasted and used overtime physically.

That guy was actually buttressing your point na.

Read am again

phadriz:
Most of you don't understand that no one way to wealth building through portfolio management, you don't have to stick to a pattern. You move base on changes. What you wrote is just theory which is good on paper only. For your information I only invested 30% of my savings in the NGX, 70% is in fixed income in the UK which would be used for future investment in £, that is diversification.

This perhaps explains their very sloppy response to issues nowadays

naturalflow:
Notice of relocation.

Yes, you are talking of battery low voltage cut off, I am talking about not charging the batteries above 80%, any ideas how that helps to prolong battery life?

bassdow:
Not just iPhones, but Laptops, and most devices using Lithium batteries.

They all have BMS, which helps you manage the battery. that your laptop says Battery low, does not mean you can't still run it a little more longer. BUT the BMS knows when to cut off to prolong battery life.

same when Battery temperature gets hot or too warm

What is the contact for Schneider? I could do with a replacement board from them for my homaya

chris81964:
Sorry to hear. Reach out to Schneider they will make you whole

The same format with one that took over the whatsapp of a relative. I also played along and got his account details below:

Scammer

BANK NAME: WEMA BANK PLC

ACCOUNT NUMBER: 0275762946

ACCOUNT NAME: ADEBAYO HAPPY

The guy had successfully collected money from a couple of the person's friends. Is there nothing that can be done to these kinds of people?

Really, I have never seen it on the laptop power management though, maybe some specific laptops.

I thought they said if you do not charge fully consistently, the battery will develop a memory? Disabling floats puts it at around 96% charge with the balance supposed to be to trickle charge

I read that the iPhone 15 has a feature that limits battery to just 80% to prolong the life of the battery. I thought this was bad practice years ago, has this changed? If so, can we adapt it to renewable energy?

unfortunately, this was not my experience. In my case I had to fill another mandate form for the other stockbrokering firm because I did not received the dividends from the same stock bought in another company.

emmasoft:
@Umargarr you don't need to fill another mandate. The Registrars who are in charge of dividends work with the CHN of investors when processing dividends and once they have it, irrespective of the stockbroker you used it will be processed. It's even the reason we encourage investors here to provide thier current CHN to a second or third stockbroker they wish to use in other to avoid any issues when it comes to dividend processing.