₦airaland Forum

Minjim:
This how it going to be since ASUU wants to be paid for the half a year they did not work , student should sue ASUU for collecting salaries for 6 months and not working.

Since wants to be paid they should also accept the responsibility of being sued

That they did not engage in teaching does not mean they are not working. Academics is a combination of teaching and research. While teaching was suspended during strike, research are ongoing.

If you want to talk about people not working and getting paid, you should direct that to those working in moribund refineries that can't refine a barel of crude daily and the Ajaokuta steel plant that has never produced a single bar of steel since it was built.

akinola98:
Hello People

Is it time to sell off acquired FGN bond ?? Since the FGN claims they are broke so we do not start hearing stories about unpaid coupons

What is your opinion on this pls Thanks

They say Nigeria can't default of naira bonds because they can easily print naira to offset payments.

I think we should be more worried about Eurobond/Eurobond Fund.

Babara1994:
HIV virus won't be detected until 3 months from intercourse. So you can't know if you have the virus until 3 month's time.
Be careful with the girls you sleep with.

I don't use CD for ugly girls, cos I know that only few ugly guys would sleep with them. but you see those ones with big asses and shiny skin, pls try and use papertape to secure the condom when using it o.

You are fooling yourself.

What if one of the few ugly guys who is sleeping with an ugly girl is someone that frequents brothels. Imagine that same guy experiencing a condom burst while smashing a sex worker.

Oga no go play yourself o

pizapato:
By now people should know holding USD is an investment. If you can put the USD into secured investment that brings returns, it is even better.
Nigeria is struggling to get Forex. Tony Elumelu recent post on Twitter shows that intense bunkering makes it impossible for Nigeria to profit from the current price of crude because lots of the crude produced is stolen.
The high price of crude also mean more subsidy needs to be paid. That's what has driven the cost of diesel and petrol up.
If the cost of crude remains above $100 throughout the year, by the end of the year, dollar could easily exchange 650

People should be holding at least 50% USD and 50% naira now

Just half way through the year, we are already edging towards 650, when that was what I was predicting it to close the year at 650

Come end of the year we could be looking at 700+. Although the rapid move from 620 to 640 seems to be driven again by a wrong move by Meffy who wants to arrest those trading USD.

Be like na to go 20% or lower with Naira

OBAGADAFFI:
Debt servicing finally surpasses revenue as FG releases Q1 data.


https://www.thecable.ng/breaking-debt-servicing-finally-surpasses-revenue-as-fg-releases-q1-data/amp

Prepare for the worst

What could be the implication of this on Bonds and Eurobonds.

Can government default ?

Deprofessional:
I was able to accumulate this through saving from my monthly salary.

I am now 48 and thinking of being self employed 2 years from now.

Please I need as much idea as possible.

The short let apartments got me thinking.

Short let apartments are not bad but I doubt if 10m can buy a unit in places like Lagos & Abuja where such is in high demand.

If you have no other investments or money stashed somewhere, My honest advice will be to convert 8-7m to dollars and invest in Eurobond fund.
Use the remaining 2-3m to start up a business and then scale up gradually when you master the business.

It is will a big gamble to throw your entire money into a business you have very little knowledge of.

ositadima1:
Here is my understanding regarding exchange rate issues Nigeria is being suffering.

Going 100% free-float:
In this case the exchange rate is completely left to demand/supply. Here Naira will even go down much further, expect 1000 Naira to USD or even more with fluctuations. This is because Nigeria buys more than it sells (Inport vs Export) - Deficit in Balance of trade.

Going 100% fixed rate:
In this case the government acts as middle man (Market Maker), using its deposit as buffer. Again, because Nigeria buys more than it sells it puts strain on the deposits (ever decreasing foreign deposits).

The superficial and quicker solution adopted by present administration was to use a mixture of the two. A more deeper and lasting solution is to improve overall productivity of d Nigerian population.

CBN is actually moving towards free float, just that it is being done in a gradual way.
Now everyone is encouraged to open a domicillary account and get a dollar card to be able to spend up to $5k per day (depending on the bank).
That is CBN telling everyone one to source their FX by themselves.

How then do you think the PM rate is going to fall. If it stabilizes at 500 or even 600, things become normal. Unfortunately the fall is continuous.

By the end of the year, PM rate will be at least 650 if not more.

Gavrelino123:
Better you buy treasury bills..

The sudden rise in dollars is artificial..

Lol
So what do you think the actual rate should be


This same argument of the rate being artificial has been on since since 2020 and it kept inching upward.

I can remember awesomeJ discouraging people from buying back then when it was around 430, before we say jack it hit 470 from there it has been on upward trajectory

Even the official rate we are seeing today is probably not a reflection of the true situation of things because the current administration (ruling party) can't afford to devalue further because election is around the corner.
Don't be surprised that the next administration might devalue naira further to close the gap between official and parallel market

Like people have suggested earlier, it is better to split one's holding, some be in USD some in naira.

If you can get it between between 550-600 buy and hold.

silvoclaira:


Is kidney donation hard again anywhere in the world?

UK or not UK

It most countries, it is unlawful to buy organs. The person donating has to do it wilfully.

There are so many people on waiting list in many countries because they are waiting for a donor.

However in places like Turkey and India, they are not too strict about sales of organ

Mpeace:
Market is still reacting to the US Fed Rates hike. By monday we should see our market back on track. But on a very serious note, we need to reduce the influence of foreign investors on our markets. It exposes our market to negative effects of foreign actors. If US raises rates, our market reacts negatively, if the reduce rates our market remains where it was rather than react positively.

Hmmm.....I pray it bounces back by Monday.

Impending 2023 election and hiking of rates by US Fed seems like a bad combo that could keep the market down till second quarter result start dropping in July.

Born2conquer:
E con be like sey make person dey hold hard currency make sense pass

When I made this post, dollar was 580, today it is 605.
Eurobond fund is the way to go. If the devaluation trend continues, money held in eurobond fund will return 27% appreciation against naira annually.
7% - from interest accrued
20% - appreciation due to devaluation

pizapato:
Over the last 3 years, the naira has consistently lost about 20% of its value per year

Jan 2020: 1$ = #360 | Dec 2020: 1$ = #460
Jan 2021: 1$ = #470 | Dec 2021: 1$ = #560
Jan 2022: 1$ = #560 | Dec 2022: 1$ = #?

Currently dollars sells between 580-590, by the end of the year it might sell for 660 if the pattern continues.
Investing in dollar dominated asset at 5% per annum will give 25% return annually when you factor in devaluation.

Any investment in naira that is not returning minimum of 20% per annum is not worth it because of the possibility of naira losing beyond 20% of its value in that period.


Better to convert your money to dollar and hide it under your pillow

[quote author=NaijaRoyalty post=113849187]Masari of all people, A terrorists sympathiser?

Masari that is not loved by his people

Tinubu is a dunce and Will never be president[/quoe]

His choices are limited. The odds are against him.

Ganduje - Glaring corruption, caught on camera stuffing dollar in his pocket

Masri - Terrorist apologist

El rufai - Ethnic jingoist. El rufai will cause him to lose more votes in the south because lot of southerner detest him and his uncouth children.

adubam:
General Documents required for interview:
Standard Passport
Local Government letter of identification.
Birth certificate / age declaration.
2 recent colour passport photographs
Guarantor's form sworn to before a commissioner of Oaths / Magistrate / High Court Judge
Parents' letter of consent for minors under 16 years
Marriage certificate where applicable
Police report incase of lost passport
Submit application with supporting documents to passport office / Embassy / High commission

Is all these necessary for renewal or it is only for first issue

AgentXxx:
Finally done with all approval, awaiting capturing at VIP 3 ... hoping I get captured soon...

They came in around 9am, first thing is they get your appointment page and verify your NIN, after that you are directed to an office where your files will be arranged for you then you proceed to approval for renewal but fresh will first get a confirmation then proceed to approval and it’s done in different places , don’t know if it’s just for kids...


Presently in approval stage, they seems to be delaying their purposely here cos have been here for almost 30mins now, yet to get my file and I need my old passport for my daughter’s approval and it’s with those doing approval....

Was asked for marriage certificate at my child approval section even though I will be debating it when I get back since am here with her mother and also can’t a divorced father get a passport for his daughter ? That is what am dragging with them as I didn’t come with any marriage certificate ....

Can you please provide information on the documents needed where files are arranged

SmartyPants:
An extra year is nothing. I was 26 when I went back to school to start all over in a second degree. In the grand scheme of your life, where you may hopefully live up to 70 and more, that one year will be absolutely nothing.

But are you certain it is comp science you really want? i would advise that you start taking some IT courses now before you switch so that you can be sure.

Education is best when you enjoy it so don't labour through something that you won't even be able to defend )since you don't pay attention).

There is no need whatsoever to switch courses.

There is a tight connection between EEE and computer science. All he needs to do is to start learning how to code from now while studying to complete his first degree in EEE.

Once he has mastered coding, he will start to see the connection between the two fields and how he can harness the knowledge from the fields

Electrical cars and autonomous vehicles are examples of the connection between the fields.

Look at the big picture

Apus:
Omo Ibadan peepz dey flex oo. See full plate of food with better chicken for 1500. I'm jealous.

Surely it's from Hexagon. Used to be 900 or 1k about 3 years ago

I wouldn't want to believe she racially abused a Nigerian.

She did be really stupid to use a racial slur on a Nigerian because her dad is a Nigerian.

emmasoft:
Please note all funds that are equity based or balanced funds don't guarantee capital their performance is largely dependent on the stock market hence they are volatile.

The reason you see the returns high right now is because of the resent bull run in the stock market.
Start watching from now you see will see it reducing because the bear is in the market.

Most times I advice clients to buy stocks directly instead of equity or balanced fund because it's same risk involved.

Stay with mmf if you want a fully guranteeed
Fund or VGIF now under GTCO.

Thanks

freeman67:
No guarantee ooo. It can either go up or down according to the funds performance at a particular period. The first period wey I try am with 50k na like about 47k I take run commot after about 6 weeks.

Chaii..... make I just stay where I dey
Thanks for the feedback

Is capital Guaranteed in United Capital Balanced Fund.
The rate is quite high. I have investment in the money market fund and I'm thinking of shifting to Balanced Fund.

Allboiz:
Same here. Stanbic uses Standard chartered, but there shakara is too much.

I then open united capital. They use fcmb, i opened fcmb and did it for a while, i.e, fcmb to fcmb transfer. Now, fcmb has stopped transfer from fcmb dom to fcmb dom. Very funny to me.

Are you for real?
I just open an account with United Capital and was considering going to open a domicillary account with FCMB.

What other options are available to fund someone's account with united capital ?

olystic:
Fbnquest uses first bank
Stanbic uses standard chartered

Thanks chief
I will try FBNQuest as I have a domicillary account with FBN.

ernie4life:
Hello investors,

am just here to inform us that yield has gone up, if you are considering investing in Eurobonds, now is the right time, most bonds are at a discount right now.

Greetings oga boss

Please do you know any of the asset management company that use First bank as custodian. I have a domicillary account with FBN, hence I'm trying to avoid transfer charges.

The following are my findings for now:
Asset Mgt ------------------> Custodian
1. United Capital ------------------> FCMB
2. FCMB Ass Mgt ------------> Standard Chartered Bank
3. Stanbic Ass Mgt ----------> Standard Chartered Bank
4. FBNQUEST ------------> First Bank


Information about the custodian of FBN Quest, Stanbic IBTC Asset Management and others will be greatly appreciated

Anyone with information on the custodians of other asset management can kindly update the list.

Gracias

Modified

Willie2015:
First try and read NSEMPA ....
a thread on Nairaland...
Its crash course for anyone interested in trading...
U can reach me if you need any guidiance.

I'm learning on the thread and I've been trading for over a year now
I followed you when you made a comment about picking SEPLAT at 770 on the thread and I saw it rise to over 1k few days after.
Wished you will drop more info on your picks

Udemzy05:
Tact? How is that tact?

If that's tact then why are we clamouring for a change in government instead of just having regards for the constituted authority.
Why not just put up with everything the government throw at you because you have regards for leadership.

Well you call it TACT,I call it ass licking.
Just because you don't want your land lord to give you quit notice,you must do whatever he says even if it doesn't make sense.

I've seen some people doing the most silly things at work just because they don't want to lose their job but will complain bitterly about it in secret.

Nobody will wake up one day and just decide to cause trouble, talking about building your own house cause your land lord is being difficult,let me tell you this, everyone won't be a landlord or land lady, and moving out is not as easy as you put it.

It is surprising that lots of you can't identify the lack of coherence in the OPs narration. From his narration, I suspect he is a problematic tenant.

Let me point out a few:
1. He claimed he just moved into the house, but he failed to specify when exactly he moved in and how long he has lived there
2. He said once his rent expires, the caretaker usually contact him. That shows that this is not the first time he is renewing his rent there. It also gives an indication that whenever his rent expires, he has to pressed before he pays.
3. His girlfriend had an issue with the landlady. Are you not surprised the girlfriend is having an issues with the landlady of a new house he just moved into. If he has lived there for say 5 years with the girlfriend, it is understandable that misunderstanding is bound to happen occasionally over a long period
But for him to have issues in a short period he claimed to have resided there, the problem seems to be coming from him and his so called girlfriend.
While I understand that some house owners are problematic themselves, and it is more difficult to deal with a landlady than a landlord, a tenant that minds his own business will rarely run into trouble with such house owner even if they are from hell.

I did not bother to read the whole story as the start already gave me an indication of his kind of person

You are 27, you got money for iphone but can't get money to rent a place for yourself, even if it is face me I slap you.

At 27, you should be living alone pushing your own hustle. Why would you still be living in a place where you wouldn't even have enough peace and tranquillity to think and strategize?

Newton2024:
My proprietress has not paid me my March salary (15k) till today and no work no salary for April. She said she is expecting some parents to pay her during holiday. I'm the only English teacher in the school for both JS & SS. In my next life, I will never be a teacher.

Two worst jobs in Nigeria:
1. To be carrying chalk
2. To be carrying gun

Since you teach English, just gather money and move to Asian countries (India, Indonesia and the likes) where English teachers are on high demand

Nowar:
I appreciate you all .

However I’ll love more clearer/bigger pics pls or link to video I can watch to fully grab . Thank you



Btw, I called the mason yesteday , told him all this and he insisted that it doesn’t need that the area and soil condition can’t give room to dampness . He showed me houses around me,he explained a lots to me and took me to some far away houses where it’s mandated to use German floor, very far to my place . I still insisted , he said if that’s is the case I should just settle for concrete thick concrete flooring just like someone earlier on has suggested.

Before We could return to site omo naso rain start o lol.

Thank you all ..

I’ll appreciate the bigger / clear pics pls or video link .,
Location:Ibadan .

Unfortunately I don't have additional pictures I can use. If you have a picture showing the internal part of your building upload it, i can make markings on it to explain further.

As for what the bricklayer said, they will always say that but in few years time, you will be the battling with wetting. Some buildings will not even show evidence of wetting on the outside because the sun dries the external sides quickly after rain, but the wetting issue will be a problem on the internal side of the walls.

Apply as much remedy as possible at the stage to save you unnecessary spending in the future.

Nowar:
Thank you very much sir.
1. I have not done the roofing ,
What I meant is that e remain make I do roofing
And I supported the house with pillar round ( the house have 10 pillars in total ) four each side , two at the back , where the foundation has 6 couches of block, I supported it with double wall round..

Below is the pics


Blessedsunny2, hslbroker2

I’m a young man , it’s a pity I have zero knowledge sha

Since you are yet to do concrete flooring, it can still be remediated.
Just like diordaves suggested earlier use a DPM (nylon) whenever you want to do the flooring.
However break the internal part of the blocks at the lower part that will be in contact in german floor particularly the exterior walls.
Extend the DPM into the broken blocks, let the german floor extend into the broken blocks holding down the DPM. This should prevent damping of the inside walls of the building

For the exterior, you can use a fanciful tiles below a wall belt at the lower part of the building.

giselle237:
I am in Togo.
Why bring such information here if you did not use it?? You were told by immigration officer.. this and that.. then someone is asking for number.
I wont go out of my way to trade words with you because as you claim you are the one that has been travelling out with passport.
Passport in Benue state is 17,500. If you paid 27500 it is your sole business!
Keep such baseless and unecessary unformation out of this thread. If u did not use this so called express of 90k, on what grounds is the information necessary here?
On what ground is your phone no here?
U went on to drop your phone no for unsuspecting members of the public to inbox u for this rubbish.. u are not serious. Evil.
And if you do not know passport is still 17k in over 29 states. For adults. Children and over 60 years pay 11k.
I and my family members who do not subscribe to bribery and corruption have done this severally!
We do not need you mr traveller to be the judge and jury over those that have held previous passports before.
Mr 09026018464

Which day did you capture the page. I tried the page today and the price it returned is 25k

Acidosis:
Anything can happen. Dollar is #1 because of oil deal.

The developed world will eventually dump oil. Most of these countries plan to dump combustion vehicles before 2030. Countries like the UK and the Netherlands will be placing a ban on combustion vehicles by 2030 to create room for the likes of Tesla.

Mind you, the U.S. has already lost its competitive edge on green energy to China. With more than 40% of electric vehicles, solar energy, and inverter engines in the world coming from China, the power of the U.S. dollar is only going to last a few years.

If green energy won't terminate the U.S. currency hegemony, Bitcoin would.

I don't think combustion engine is going anywhere soon. The west thought the could achieve that in 2030 but current reality shows it is impossible.
Electric cars need high voltage to be charged, that is largely obtainable through hydrocarbon powered energy sources (oil, gas or coal).
The west who are advocates of clean energy have all reverted back to dirty energy (coal) in the wake of Russian-Ukraine crisis.

The global financial system is rigged. Dollar, pounds and Euro are designed to repress other currencies. UK and I think Germany have refused to pay Russia in Rubles. And even if they do, Russia will still have to spend any of the three major currencies to trade with most countries.

May be cryptocurrency will break the hegemony, time will tell

Indigbo:
I will put it in equities where it can have 50% appreciation if the odds favour me

Name them sir?

I'm not experienced enough to give you recommendations. There is a thread dedicated to NSE on nairaland. You can follow the discussion there to know what to buy.

I will just share my experience over the last 18 months

UCAP gave me 60% capital appreciation last year, and that's because I jumped out early. Bought at #5+, sold at #9+, if I waited longer I would have left with over 100% because it eventually hit #14 few weeks back.

I bought Guinness at #48 and sold at #70 in less than a month in February this year.

Of course there's a risk of losing of money in equities like in case of UBA that underperformed but with dividend I recieved, I didn't make loss, just didn't make any profit but I don't mind.

I'm not recommending UCAP or Guinness, just stating that whatever I want to hold naira will have to be in investment with moderate risk and potential for high return.

What I'm not ready to risk is held in $$$