₦airaland Forum

laceonline02: Any news on today's bid

91 days 10.3%

182 days 11.59%

364 days 11.68%

Elai147: And you cannot ask them to bid at a specific rate for you as such option is not available on their T-Bill application form.

Wasteman bank! I should never have bothered!

Symphony007: Some people just have the tendency to say rubbish always. A "nigerian" fighter jet crashes and some simpletons have already started mentioning civil war era plane, no fuel etc...but just some days back a u.s military cargo plane pratically fell from the sky like a paper kite in afganistan, no stupid comments then o! Ignorancai!!

Whilt I disagree with all the infounded speculation about the crash of the Nigerian jet, it is pertinent to note that it wasnt a US military jet that crashed but a privately owned 747 contracted to transport military equipment for the US.

I am also tired of people refering us to negative pictures or news from the US or Europe any time something bad happens in Nigeria as if itvis justified just because it happens over there too. It is a dull way of thinking.

bukahands: am new to this i have free 100k and i bank with GTBANK can i go through them and is 100k enough to get started

GT Bank are the best for this and I think 100k is the minimum so you should be okay with that.

FYI

First Bank only do 91 day bills. Ridiculous in my opinion.

yuzedo: So because you wanted to change 500 Zimbabwean dollars, [size=18pt]ALL[/size] Nigerians are now bad people, eh?!?!

English my friend! I never said all Nigerians are bad people. I am Nigerian too and suspicious of my own damn self as well. Being suspicious of everyone has always helped me. Although I must admit, I have missed out on a few real opportunities because of my suspicions.

4bobo: they kept on scamming and scamming inocent people and you sat somewhere watching them and did nothing, you too contributes to Nigeria's bad image. Why can't you systematically report them before coming here to express your anger. you are a bad Nigerian too.

Its easy for you all to say report to the authorities. These scam is going on just about 10 metres away from men and women of the customs service. You cant tell me they dont already know this is going on. I came home to do business and not be a hero. I had my life savings on me as well and my No 1 objective was keeping that safe. If these guys can operate with impunity right inside the terminal, I'd not like to think what they'd be able to do outside the terminal building.

I have just come through MMIA and there are scammers openly operating in the arrivals terminal of the airport without fear or worry.

As I walked out, a guy approached me and offered to change some money for me. We agreed on a price and then he asked that we go to a secluded area. I was already wary of him as I am suspicious of every Nigerian and this request only made my suspicions stronger.

I went with him and he gave me the equivalent of my foreign currency to count. I still had my foreign money with me. I counted the equivalent he gave me and it was N1000 short. I told him this and he took the money back from me and started to count. I didnt count with him cause I knew I was going to count it all over again. He finished counting and gave me back the bundle and said it was truly one note short and he gave me N1000 to add to the bundle that was now back with me. The first thing I noticed was that the bundle felt much lighter than earlier, probably about N20,000 lighter. Anyway as I began to count the bundle again, an accomplice of his made some noises as if to say they were being raided and the barstard grabbed his money from me and walked away. I walked away to and sat in the arrivals terminal waiting to be picked up and right before my eyes, this same barstard successfully scammed another recently arrived passenger. I also saw another syndicate scam a woman passenger. This woman was hell bent on not taking her eyes of the counting but they eventually succeeded by distracting her with a phone call.

How is this allowed to go on unchecked right in the terminal of Nigeria's premier international airport. I find it hard to believe that the authorities dont know this is going on. Why are they not fighting it, why?

Elai147: Wonders shall never end. I am beginning to get scared ooo.

@papillo.. so it is possible to convert your shares from electronic form back to paper form? If this is possible then it should be the best thing to do for long term investors instead of risking your investors with these criminals. But if you do this conversion, does it affect your E-dividend payment system? Does the E-dividend automatically convert to paper/cheque dividend form?
Please anyone with ideas on this should contribute.

To be honest, I am not sure you can do this but my suggestion is if you have susbatantial shareholdings in paper certificates, I would suggest not to dematerialise them yet. Until you have been defrauded, you will not realise the scale of fraud going on in the NSE/CSCS. I am currently trying to sort out 2 cases involving tens of millions of naira and it is very messy!

Dematerialise your shares at your own risk. The good thing is there are no sanctions for not dematerialising.

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Why are you spamming every thread with your okrika and Louis Dubai gear? Mind yasef o!

berem: you are actually the dumb one! Why aren't you quick to blame the previous government of Ohakim who couldn't pay salaries of the health workers? Why should Rochas be blamed? Government is government my foot!

You are a total mumu. I have blamed the government and not one individual. I dont care if Okocha or Shekau is the current governor.

berem: Thank you Abagworo for clearing the air. Salaries owed by previous government and Okorocha takes the blame? Now i see that the opposition is trying to cause trouble.

Are people really this dumb. The government is the government and it matters not who the present governor is. They are owed by the government and the current governor is the head of government and is ultimately responsible.

Imagine a bank refusing to give depositors their money because they deposited the money in during the tenure of a previous MD/CEO?

clemmonce: after an accident which the governor might be the person who caused it... you detain the man and the governor is been treated ........ in Africa just try as much as possible to be a governor or senator i swear you are a semi god.... rubbish

Even if the man caused a collision, why the hell do you lock him up for over 2 weeks. I can understand them asking him questions cause it involves the governor. Unless they know it was attempted murder and not a case of careless driving, the man should be released immediately

bleeping country. Lock an injured man up for over 2 weeks because he had a road traffic collision with the governor? SMMH!

@Elai47

Even if you use a large reputable broker, these mushroom brokers collude with CSCS/NSE officials to carry out their fraud.

All a fraudulent broker with connections in the CSCS has to do to take control of your shares is sign a letter of indemnity that they will be liable for any losses incured by the CSCS. They then back this letter up with your death certificate/letter of authority from you and voila, the CSCS will transfer all your holdings to the initiating fraudulent target broker without contacting your resident broker.

I am suprised, may quack brokers are not doing it with large sums and fleeing the country.

Elai147: But how is it possible to sell sombody's stock without a mandate? How can a stockbroking firm sell an investor's stock without the signature of the investor on the mandate form? Do the stockbrokers not submit a copy of this mandate form to SEC or NSE before effecting the sale? Sec should do something about this small stockbroking firms that may be of risk to investors otherwise this can destroy the renaissance and trust of the Nigeria Stock Market. Investors should embrace big stockbroking firms. Person wey don chop belle full no go wan steal your money... A word they say is enough for the wise. Me I go soon run go BGL.

The problem is CSCS and this shows that Nigeria isnt and probably will never be ready for fully automated and electronic share trading.

Because many people have converted their shares and those shares are now held electronically by resident brokers, they can do as they please with investors shareholdings.

My advice to anyone with substantial shares in any of these brokers who is not a day trader but a long term investor is to convert their shares back to paper certificates and keep under their mattress. If your paper certificate gets burnt or stolen, you will know and immediately put a block on them and get the certificates reissued. If they are held electronically with a broker, by the time you find out, the broker may be long gone.

Hi Inspired

What is the current exchange rate for £pounds i.e. I have pound and want naira

abbk000: Please see some areas in the UK... You would not expect to find places like this in a developed country like this.

We NIGERIANS are our own worst enemies, Fashola has done for Lagos what no other Governor has done. You cannot expect 100% transformation, its not possible. Rather than be critical let us learn to applaud the good in people. Shamefully you could only upload two bearly visible photos, please show us the more that is to come...

They are talking about bad roads, this one is showing us file pictures of uninhabited blocks in 70s UK.

Are you not ashamed that even the road in the ghetto you tried to depict in your post is tarred?

successking: Comparison between Nigeria and US, UK and so on comes out of unreasonable mind and display of frustration. The reason is not far fetched, US & UK have been in stably democratically elected government for over a century, and Nigeria came of the shackle of military destructive government, and yet you expect Nigeria to measure up to UK & US within fourteen years of democratically elected government. Even a five years old child cannot make such a comparison. Just a matter of time and Nigeria, not just Lagos streets will look like the streets in UK & US. Naija for life! Lagos for life!

The UAE has never had a democracy

asala1: Yes, some streets are like this in lagos, but I have come to understand that many of the untarred streets are pipeline streets. They cannot be tarred. An example is the Obawole-jojo-shaga road in agege.

Rubbish! My street has never been tarred and its nowhere near a pipeline. I can confidently say that 85% of roads/streets in Alimosho LG are untarred. I will also take some pics and post.

laceonline02: tanks for the info...its unfair oo..i tink the rate should be uniform..pls do u advise i go with my bank(gtb) bidding or i state my biddin rate
you will get your (bank's) bidding rate.

If you are a novice like me, it may be better to go with your banks bid rate as they are in the system so they will have a better lookout on what the likely successful bid rate will be.

If you are greedy again like me, then you can put in your own bid rate and keep your fingers crossed.

laceonline02: Clarification!!! If i ask my bank to bid on my behalf..ll my interest rate be the cbn stopping rate or my bank's bidding rate?

you will get your (bank's) bidding rate.

So for example if you bid 11.5% and the stop rate is 11%, you will be unsuccesful. If however the stop rate is 11.75%, you will be sold the bills at your bid rate of 11.5%.

wowzers! Thanks bro!

@Feelamong and Seun

I am new to this Tbills schiznit and I am going to the market next auction 8 May for 364 day bills but need some expert advise. Going by todays rates, what rate do you suggest I ask my banker to bid, 11.75%? I am desperate to get on this gravy train as quickly as possible and I want to put in a rate that will be sure to be accepted.

Regards

Big up unu self Ras Kimono and give thanks and praises to his imperial majesty Haile Selassie 1 Ras Tafari!
Rasta happi fi you cah me see seh you have a beautiful Empress and me sure seh ya done raise Empress inna true Rasta way.

Jus last week, I and I a put ya dub plate bout apartheid pon repeat when da ol witch inna Babylon a dead.
All true Rasta mus go out inna worl an broke Babylon down an mek fire fi burn all a dem baldheads.

Blessed

Ras WollyMan
Zion

coogar: the unarmed civilians help the suicide bombers transport IEDs from place to place in their market wares, garri sacks, vegetable trays, etc.

jonathan should be picking the community leader of any district housing terrorists. detain the leader and his entire family. that's how people would sit up. nigeria is at war with terror. jonathan should set up a detention camp in abidjan a la gitmo!

All 185 of them right? SMFH

Krucifax: The first answer to this is that in all three cases, there was terrible loss of innocent life. However do not try to condemn JTF with an underhanded dig in your write. The Baga siege,is more significant because Baga was a community which harbored a terrorist group that held the whole nation to ransom.

I do not in any fashion support the killing of women and children(that was a national disgrace)however you must also apportion blame proportionately. The JTF team got to Baga in the wee hours of the day,surrounded the village and asked any Boko Haram affiliates to surrender themselves. How did they respond to JTF? With AK47s and RPGs(Rocket Propelled Grenades)! What did you expect JTF to do? Respond with bad language or ask them to calm down??

They opened fire on a Nigerian military force and JTF simply returned the favour. The collateral damage is however regretable but it was unavoidable. So in summary i have no criticism of JTF under the circumstances,they did what they had to do!! Fact.

I am sorry to say but you sound like a illiterate. How did you come to the conclusion that the villagers harboured boko haram members?

A similar massacre similar to what the JTF did in Baga happened in Syria on Monday where the Syrian government killed over 300 people in their fight against the FSA terrorists. While it is the Syrian government's legitimate right to fight terrorists, there is worldwide condemnation as there can never be any excuse for large scale loss of innocent lives

I am calling bullshyte on this. Those 2 guys dressed alike look like security agents. The rest of the pictures make no sense. There are so many people with back packs. How da hell can you take a picture which has the inscription "da bomb" serious?

Seun, Feelamong et al

I am planning to put in a bid for TBills on auction day 8 May and I need to clarify one issue.

Say on auction day 24/04/14, 364 day TB is issued at 11%. Then on the next auction day 08/05/13, I ask my bankers to put a bid in at 10.5% for 364 day TB. At the end of the auction if 364 day TB are issued at 11.5%, what rate do I get?

Stop rates 10/04/2013

91 days: 10.49%

182 days: 10.68%

364 days: 10.71%

Ronald Reagan an Margaret Thatcher
Gorbachev an Pieter Botha
All a dem a come together
Dey wan fi be the black masters
Came to South Africa an wax our leaders
Dey give us name
An call we Niggers

Ras Kimono