₦airaland Forum

Gabrielclint:
My brother, good day.
First as a real estate guru, I think the location of that property has reached its apex appreciation. For a plot of land to be kept at 30million naira 4 years ago and till now the land has only depreciated rather than appreciating, it calls for concerns that should be investigated.
.

My suggestion is, depending on the location and state you reside, you can look for cheaper lands in a place that is rapidly developing, use that 25mil and buy like 5 plots at 5mil each, in 2 years that 5mil land will become 10mil each. I bought some plots for 500,000 naira last year, just last month I checked and the property now worth 1 million each.. 100% in just 1 year, just because[b] the government asphalted [/b] the road. Look deeper bro, real estate is the real deal if you investigate well.

Is there a way to know government's plans for a certain area, how close they are to actualising them and the factors preventing them from doing so?

afroxyz:
You people give humans too much credit. History has shown that human always forget. Social distancing won't become a regular thing becAuse as human beings we are wired to be social. Anti-socialism reduces our humanity. That's why escaped convicts are always caught when they reach out to family or friends (something you would not do logically).

Pattern of consumption may change because many people may want to stock up more in the future . Also people would want to be more liquid and be cautious of where they tie their money down.

Jobs would be lost. But more jobs would be created for those that are creative. There would be a shift for online, technological ways of conducting business. I see AI playing a more dominant role in businesses moving forward.

But if na Nigerians. Leave . We no dey change. We have refused to change our attitude during the pandemic. People are still taking tricks laden with food stuff to reach their destination. Police is till complicit in enabling this despite the embargo placed by the government.

Is it post pandemic that people would change?

If you read my post, you'd have seen where I said some things might not change. All those things were based on what if scenarios. No change is also a scenario. It's just thinking ahead to make you responsive to changes. Change comes with risk and opportunities. Utilise the opportunity and manage the risk

12inchess:
Im not too comfortable with stocks and shares in Nigeria because of the huge inside trading that I believe to be taking place. It usually only benefits the Dangotes and Otedolas. I'm pretty much looking for how to keep or you can call it save my 12 to 14 million with least risk from naira devaluation. I'm thinking the way to do that is to invest it in some sort of foreign currency. Do you have any ideas.

He's answered your question. FX denominated investment

Theconglomerate:
That is why I put question Marks at the end of every sentence.Because I did not understand what she meant and would love her to elaborate.

Stuff like- what if social distancing becomes a way of life and people stop or reduce going to bars and joints, or they consume it in a different way that your operation isn't structured to cater for?

What if people become more health conscious and shun alcohol or suya or catfish?

What if the channel of consumption changes?

What if exchange rate affects cost of inputs and makes the booze etc harder to purchase?

What if people would rather spend their leisure elsewhere or do something different?

What if the spending priorities of the target customers change?

What if the customers lose purchasing power because of job losses?

What if insecurity increases and makes them stay home?

What of direct and indirect competition? New entrants to the location?

What of legal changes that could become permanent? Say a cap of 100 people at a location? Or no walk in customers are allowed? How will the customer experience evolve?

What if nothing changes?

What if , what if, what if...

This pandemic has changed things which won't be obvious until sometime in future. Some things won't change sha. How will your business adapt?

just2endowed:
Now that oil prices have crashed and keep crashing. What effect does it have on TV in the long rum?

States are worried that there won't be salary again in next 3 months. Does it mean that govt will borrow more naira locally?

Is the future of tb safe?

Televisions should be safe in the long run

Don't people realize that they can use the card management utility of their mobile banking app to control the channel (ATM,web or PoS) on which their cards are used? Eg if you don't want your card to be used on an ATM, you simply turn off that channel and turn it on when you need to

chigo4u:
412 right now. I think dollar will hit 500 this year before dropping but won’t drop less than 400. If you have anything you need the money for currently you can change but if not just continue monitoring the rates every day

I've gotten quotes for 420 and 423.5. what's your source for the 410? Or are you mistaking buy side for sell side?

IamR:
We should be worried about Brent that is now around 26 - 28$. We have no business with WTI.

Nope. Not Brent either. Our crude grade is Bonny Light which is being sold at a discount

Horlartunes:
Guys how can we venture I to ghana treasury bills please

Lol. Una noh dey tire for this Ghana NTB matter. Contact a Ghanaian bank for the requirements

TotoNaRubber:
I've used Google map, most of the properties I've seen in this environment are said to be less than 25 mins drive from the hotspots in Lekki.



That is my concern when I hear ikota it gives me concern this may be far from Lekki hotspots.



I believe most of the property agents just add Lekki phase 1 to give it more visibility but until someone visits the site physically then there will be more clear idea.
Personally I try to avoid Lekki phase 1 but very keen to secure one anywhere around Lekki phase 2 or Chevron, if I can find individual sellers to avoid all the estate agent monthly/annual fees or an estate with reasonable service charges then it will be good.

I saw a property in Lekki phase 1 fully furnished 2 bed apartment for N50 million but then I prefer a house.

The travel time in maps will be affected by the lockdown which is why I added the traffic factor. If it's any consolation, it's like 4-12 mins from Chevron depending your precise location in Ikota, chosen route, condition of roads on the route and traffic

TotoNaRubber:
Guys sorry to derail but been thinking of securing a property/poperties in Lekki as a hedge against the Nigerian government doing vumm wonders with unending sale of debt instruments.

Here are my questions.;
1. Does anyone know how the location of ikota Lekki phase 1, is it far from Elegushi beach?
2. Is there any house agent here that can get a similar property below at a better price.
3. Is it a good idea to buy such properties?
4. Any unforseen risks of buying and owning such?..

The house and land ae sold by estate agents so the buyer pays, signs the documents and receives his house keys.
Thanks

Estimate distance using Google maps. Travel time between these two locations can be anything from 20 mins to over an hour due to traffic

Akin3891:
Does anyone know on which day of the month does bank drop interest on savings account? first bank haven't drop mine. Also I wonder why first bank charged me 21k plus for account maintenance fee on my current account, i wonder the measures used to charge me that high, I called the customer service but no response.

Because you had 21m worth of debit transactions to bank accounts other than yours in the month.

I hail o

Nigsrdumb:
Please forgive me for this post.

I'm currently in a dilemma, first bank contacted me about the bvn linkage on my account.

They said I need a sworn affidavit, letter and newspaper publication to correct my name on their records.

My name hasn't changed, my identity documents match what is on the bvn , the issue for them is that they don't have my middle name .

So essentially my first name and surname is correct but the middle name is missing.

I told them a change of name affidavit doesn't make sense because I haven't changed my name

They advised they'll freeze all my accounts until I get them the aforementioned documents for a name change.


I'm in the process of converting some naira into my Dom so this is just another blow on top of my original issues with d devaluation.


Can anyone explain how I can navigate this issue?

Sorry for derailing the thread , no where else to ask.

Option 1: transfer all your funds if possible
Option 2: I think you're allowed to update the details with which you registered for BVN. I'm surprised that you weren't given that option. If possible, go the bank you got your BVN from to clear it up.

ahiboilandgas:
very true .....try and read his interview with boomerang in new york he said he trying to protect family wealth cos of devalution 2 after completion of refinery in would invest in tech companies like goggle , amazon or buy asernal.....

Na cartoon boomerang dey show o, lol. I'm sure you meant Bloomberg

gogedda:
Does anyone know good and genuine BDC that can help me convert my naira to dollar. I am out of Nigeria, I have a dorm account with GTB and I would like to send some naira from my Naija account to the BDC so that they can credit my dorm account with the USD equivalent. Thanks

Everdonbdc

Dsticks47:
Right now I will advice you go for VGIF managed by investment one.
>>Guaranteed Rate

For More info check my signature.

I don't have a problem with you selling, man must whack but this is selfish advice riddled with conflict of interest. Can't you proffer advice instead of peddling a product?

Brownhypo:
Please great minds, I have this spare cash I wish to invest instead of leaving it untouched in my bank account. I'm new on this thread

These are uncertain times. In uncertain times in Nigeria, cash, preferably Fx is king. You don't even know what the value of your currency will be tomorrow.

Dsticks47:
The best Right Now is VGIF Managed by Investment One.

Ok that is Is VGIF

VANTAGE GUARANTEED INCOME FUND (VGIF)


VGIF is an actively managed investment product that invests in and combines the benefits of money market and capital market, affording subscribers a diversified hedge against inflation risk whilst ensuring minimum guaranteed income as well as the principal invested, the fund is the first of its kind in the Nigerian financial services market.




Key Product Features/Benefits

· VGIF is a guaranteed investment that assures your principal as well as a minimum income paid twice yearly (July and January)

· The minimum investment of 50,000 Naira with additional investments in multiples of N1.00

· It is noteworthy that in spite of the capital market downturn, VGIF have consistently met and paid its guaranteed returns to subscribers, affirming the funds benefit of shielding subscribers against vagaries of the capital market while offering opportunities to earn above average money market returns

· VGIF’s guaranteed return is referenced to the Central Bank of Nigeria’s (CBN) Standard Deposit Facility(SDF). The VGIF rate is however, ONLY changed twice a year that is, January and July. Currently, the VGIF pays subscribers a minimum guaranteed return of 8.5% per annum

· In addition to minimum guaranteed return, unit holders are also entitled to an additional income of the fund’s excess return above the SDF

· Investments can be redeemed after a minimum period of six months, failing which such redemption will be liable to a pre-termination charge of 10% of accrued interests (Pre-liquidation before 6 months is 10% charge on the accrued interest)

· VGIF is managed professionally by Investment One Financial Services, backed by its trustees, First Trustees Nigeria Limited. The Custodian and Registrars to the Fund are Stanbic IBTC Plc and First Registrars Nigeria Limited respectively

To Subscribe kindly Use the link on my Signature and Also my contact details are there.

Oga, you're breaking rules 5 and 18 of NL. You're basically spamming this thread consistently. Reduce your spamming

Uchefrancis16:
Hello house

I tried purchasing the federal government bond announced earlier in January through stanbic bank and the whole thing is looking So difficult and confusing.

At first, despite stanbic being listed as one of the places one can get the bond, their staffs didn’t know anything about it. I had to make calls upon calls to their various customer care number before I could get hold of someone who understood me.

To cut the long story short, I went to the bank, explained to the staff in charge of bonds whom as expected knew nothing about it. But after I gave her some specific information about the bond as given to me by their customer care, she swong into action.

But up till now, we are stock at opening a cscs account. I’ve been to the bank trice to ask why it’s taking time, and it’s one story to the other.

Pls, does it take time to open a cscs account? We’ve been on this since January. Last time they told me the ID provided was dark. I’ve given them another ID, yet it’s taking ages.

Also, is there a way I can get this bond easily. I am considering approaching Firstbank.

Kindly note it’s not the normal fgn savings bond with max of 5 years tenure. This one has upto 30 years and with better rates. See screenshot for more details

You can also try Meristem Securities

kristien4:
Stanbic savings account is currently 4.05 , which bank gave you 4.5?

typo probably

ojesymsym:
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.

You can still do an MMF

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

Agreed. Let me tweak your figures for greater accuracy. 30% of MPR @13.5% is 4.05%. After deduction of withholding tax, you'll be left with around 3.6% p. a. Maybe slightly more if you compound it. Plus, you still have your cash available to take advantage of other opportunities.

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

Midex88:
Why do you want to report him. Do you want to get him sacked. I Too Know People

Lol. He's within his rights to report it. It could be the the said staff didn't know. If he didn't, why didn't he confirm from someone else? What if the staff wanted to dissuade him from NTB and wanted to persuade him to do fixed deposit?

Anyway, I doubt the staff would be sacked. Maybe a query/warning or getting yabbed by a boss.