₦airaland Forum

YoungExec:
- securing the land is advisable, factor that into your plans. Now that the Nigerian Economy is in dire straits, a lot of people are selling their Real Estate to shore up their liquidity. For instance, I just secure a property late last year at half the value because the seller was in a fix. Hence, it will be great if you secure the land and then plan on building at a later date.

Goodluck!!

Hello

How were you able to ensure that the quality of work done especially with the electricals and plumbing wasn't sub-standard?

Princenady:
this thread has seriously re wired my thinking. please from which qudrant should wedding money come? Anyone with answer?

Reward?

Tritri:
No one has asked what if the troubled skye bank liquidate today, How do treasury bill people get back there money?

First, a TB is a government security. It is the government that owes the investor, not the bank.

Second, TBs purchased are kept with a custodian not the bank through which it was purchased. It's not a deposit liability.

Besides, CBN says Skye isn't in distress but that it's non performing loans have exceeded the maximum limit in addition to capital adequacy issues. Worst case scenario, they'll use a bridge bank to sort it out

TokyoBulls:
I agree. I did a survey of 64 drivers on the type of cars they want for hire purchase and none of them said he prefers newer models of Kia,
Hyundai over Toyota or Nissan.

is this preference due to perception or experience?

Good Morning House

I registered for e-dividend in line with SEC directive sometime last month. However, I have not received any dividend payments even though shareholders have been paid. What could have happened?

The disparity comes as a result of the fact that the boards of most parastatals e.g. CBN are empowered by the laws setting them up to fix their own salaries. I think that of other civil servants is set by the Salaries and Wages Commission.

tziz:
English please..
Am not an Economist, please explain in lay man's terms

The asymmetric corridor around the MPR was also adjusted to +200bps/-500bps (previously: +200bps/-700bps), implying Standing Lending Facility (SLF) at 14% and Standing Deposit Facility (SDF) at 7%. The Cash Reserve Requirement (CRR) on private and public sector deposits was also increased to 22.5% (previously: 20%) whilst the Liquidity Ratio was left unchanged at 30%. The MPC maintained its stance on the exchange rate, leaving the official rate at N197/$.


The Committee is concerned about inflation
With headline inflation in February at a 3-year high of 11.4% YoY, we were not surprised at the Committee's acknowledgement of its dissatisfaction with the trend in inflation above the monetary policy target of 6 - 9%. We think the Committee discounted the potent risks to inflation in stating that rise in electricity tariffs and PMS scarcity were the major factors responsible for the uptick in inflation, without acknowledging the weightier impact of forex scarcity on consumer prices. Nonetheless, it appears price stability remains a key concern in the MPC's policy statement hence the decision to tighten. This suggests that any reversal of the recent liquidity tightening measures and/or return to an accommodative monetary policy stance to support growth will depend on the trajectory of inflation.

CBN is trying to control inflation by restricting money supply hence the increase in CRR and interest rate.

plendil:
Are you talking about the rate?

Rate and Purchasing power (using devalued naira to buy TB or the effect of a devaluation on a yet-to-mature TB)

Does anybody know the effects, if any, of a naira devaluation on TB for naira holders?

Sanchase:
As much as it sounds faint hearted, you dont want ur hard earned income to perish due to weak economic policies.

Yes the government is finding new ways of increasing revenues through taxes on the other hand the same government claims it cant pay minimum wages of 18k.

Nigeria don't need to borrow kobo to sustain the economy, the revenues generated are embezzled through loop holes in the system.

Apart from the risk I foresee in T-bills, the current inflation in naija kills tbills investment faster than a bullet for example if you had N50k naira which was $318 as of 18 months ago, today ur N50k is worth $187, thats 42% loss in which ever amount you invest with the fed govt, devaluation of naira will murder t-bills further if the fed govt dont get a grip.

TB returns used to be above inflation until the introduction of TSA. Its just the likelihood of devaluation and currency controls that has dollar investors holding back

Ymodulus:
Thanks sis.
Nooo. yu just need to know the category og people who can drive succesfully without complaints.

There are ways to recruit drivers. It worked for me. And u enjoyed it. What if i tell you till today by ex - drivers still go on errand for me without pay?

Please shed more light on how you do this

[quote author=Ymodulus post=41026299]Nooo. yu just need to know the category og people who can drive succesfully without complaints.

There are ways to recruit drivers. It worked for me. And u enjoyed it. What if i tell you till today by ex - drivers still go on errand for me without pay?


Please shed more light on how you recruit

Johnrake69:
Actually the yield is not guaranteed. The fund goes with a floating rate and that gives our clients the advantage of earning when the fund does very well. It has done close to 14% before now, and the least it has performed since inception is 10%. So my advise is invest in the money market fund and watch it for a month.

The yield went below 10% in 2013. Plus, economic conditions have changed. if the TB rates stay this low, then it follows that the yield on the MMF will fall. What is the plan of ARM to post double digit yields?

https://www.arminvestmentcenter.com/individual-investors/products-and-services/price-history/

Love is not enough. Never has been, never will be.

Character is what will make her stick with you when times are tough and other options become more attractive to her. I'm sure even now there's temptation. Someone else can sweep her off her feet and treat her in a manner that highlights your own shortcomings as a lover. Do you think its only love that's making her stick with you? Love fades. Character doesn't (unless there is sufficient stimulus). Temptation is not a test of love. Its a test of character.

dayus4real:
How do i buy? you can help send details to : dayus4heaven@gmail.com

Go to your bank branch and tell them you wanna buy TB

feelamong:
most fixed income Mutual funds do what an average investor should be doing......

they just search around for higher yields and just invest there..

at the moment i can do a FD in Heritage bank and get 12%...all i have to do is the leg work to find a bank branch that really needs the deposit.

and at the end they still charge you asset manager fee which at times could be up to 10% of your earnings

Thats true, for folks with hundreds of thousands at least. For folks who aggregate less than this on a monthly basis, it could be the only means to access such investments.

mrsage:
This is interesting. I have shared knowledge openly since the beginning of this thread. In fact, you are a major beneficiary. I have answered all your questions and even offered to share extra tips and idea.

First if you read through you will notice that someone made a request for my email address. And I gladly gave it outhst

I hope you are not accusing me of hoarding knowledge. That will be very unfair coming from YOU a major beneficiary.

Now let me state clearly that peculiar cases call for peculiar solutions. I have received mails from people who just lost their jobs and they wish to start Danfo business. I'm sure you don't expect people to write such personal details here in an open forum.

There is also a humanitarian side

No accusation here, my good man. I truly appreciate your contributions. That said, my previous mention was merely to stimulate a more robust discussion.

Putting it out here helps everyone as situations which may not have been thought of or encountered by some are brought to light and nairalanders can benefit from them to avoid pitfalls. I'm sure you've benefited from such on this forum.

Would you consider publishing some of those questions (anonymously) and your responses?

mrsage:
And how will my email address defeat the purpose of the thread?

I believe the purpose of this thread is to share knowledge and educate people . Keeping it between yourselves won't help would it?

feelamong:
Sincerely I don't know much about Mutual funds.. will have to read a lot more there maybe cos am not a fan of the product.

why not?

mrsage:
Send me an email : itunuomotayo@yahoo.com

This would defeat the purpose of this thread

mrsage:
Maybe I should start a series on how to succeed in car hire/cab business. What do you think?

Good idea

mrsage:
Tough question. In my opinion it's difficult to tell.

Abeg, do you have a sample of the Uber operator agreement? I'd like to peruse so I know what i'm getting into

Many thanks

mrsage:
Nobody controls the enforcers. That's the plain truth. The best you can have is a written agreement signed in a Police Station

For attraction. It's a sacrifice you have to make. That's the cost. However you will still make your profit at the end of the day.

Many thanks

mrsage:
Then concerning ABC transport and the rest. They have such programmes but I have not tried it so I really can't make an informed comment. I can find out if you want me to.

Please do.

Many thanks

mrsage:
Then concerning ABC transport and the rest. They have such programmes but I have not tried it so I really can't make an informed comment. I can find out if you want me to.

Please do.

Many thanks

mrsage:
But for risk factor number 1. You need a strategy. The idea of handing the bus over with an Agbero Chairman or Union boss is good and it works too.

The next questions are

-who controls the enforcers?
-won't this approach make the hire purchase option less attractive since it would mean factoring in "protection costs" into the hire purchase price to compensate for"protection"?

mrsage:
Need more comments. Let's share ideas too

Alot of people have discouraged me from doing this. However, I think it's a question of the appropriate risk management strategy.

That said, I think the major risks are:
-Credit Risk I.E the risk that the driver will default on the payments.
-Risk of total loss either through accident or theft.

My first question is this-To mitigate the first risk, do you think it would be wise to enlist the help of the NURTW enforcers found at the bus stops? My idea is that I could factor the tips to them into the hire purchase price.

My second question is about Uber Taxis. Apart from insurance and car maintenance costs, are there any other costs that should be considered?

Do you know of the big transporters E.g ABC Transport can take charge of the bus while we split the revenue in an agreed formula?

madukovich:
With Napep, the executives are better organized in places like Lagos, who can be used as enforcers to ensure that operators don't default (or default for long) on remittances.

With the minibus, or 14 or 18 seater buses, the control the executive have on the drivers is more lax, and asking them to help you strong-arm your driver into paying up, will create an avenue for them to "milk" you by the side, for the "job" they now have to do for you, so for me it's a no-no.

What works is ministering to the sensibilities of your driver and hope s/he behaves, if not simply change drivers.

Many thanks.

madukovich:
Now, as for the stories, you just have to brace yourself, as nothing is impossible to come up, nothing is too sacred to be used when a driver intends to lie to you in order to default on weekly remitance, not even the death of a close relative, parent, sibling or even child, talk more other challenges of a domestic or non-domestic nature. The fact that you must be sympathetic and empathic shouldn't at the same time mean you shouldn't ask for your due, as discovery of a weakness on your part by a driver may mean that your set out aim regarding the minibus may remain but a fleeting illusion. I cannot reel out a quality you must look out for in a driver because even the gentle and harmless looking one may default, while the ruffian ensures that your week doesn't go by without the requisite amount hitting your bank account or hand, or vise versa.

Question

In order to reduce the risk of the NAPEP or minibus drivers not remitting as at when due, would you advise that one collaborates with the NURTW enforcers found at the bus stops? If yes, what controls do you think can be put in place so that the enforcer too won't give excuses?

Many thanks

coolsix:
I'm my opinion, Keystone bank is not OK at all.

Make use of GTBank or Zenith Bank or UBA or Diamond.

Here is the secret, a bank used my majority or large number of people especially businesses has a lower chance of going bankrupt than a bank with very few customers.

So Keystone is not good at all

This is untrue. Banks fail for other reasons

alexistaiwo:
please bankers in the house. will I get my money back or will I have to forfeit all my bank savings? what will happen to the bank's debtors? will they be compelled by law to pay back monies owed to the bank?

Your bank savings are insured by the NDIC Nigeria Deposit Insurance Corporation. Deposit insurance limit is 500k for commercial banks while for MFBs its 500k. What this means is, if your account balance is less than or equal to 500k, you'll get paid in full. If your account balance exceeds this, you'll get paid your 500k, but you'll rank as an unsecured creditor for the balance and get your money as the assets of the bank are realised.