₦airaland Forum

ahiboilandgas:
all fake demand shall be removed ,all round tripper cbn has used the big stick .....this will slah form m scams by 80 percent ....reducing pressure on the reserve....

I like your patriotism and your self belief in the system.
Unfortunately, the country is really messsed up and many have lost hope in the system.

We wait to see how CBN will remove all the fake demands.

NL1960:
The guy is too much. Iam impressed with the analysis of awesomeJ.

Btw, i support that your theory of DOM accounts by individuals to be closed down. Of recent, somebody told me that a guy in his office is opening DOM accounts for himself, wife and kids. Meanwhile, this guy is a salary earner in Naira, spends Naira and does not travel out and his kids are all schooling in Nigeria. So what is he doing with $$$ in DOM accounts?. He collects his salary in Naira and go and buy $$$ to deposit into the DOM accounts. Just imagine.

It is the loophole in the system that people are exploiting.
How many people have dorm account ten years ago compare to today?
As long as we depend solely on oil for our forex need, we will always have problems anytime there is a fall in price.
The CBN is trying her best to manage the situation but we must admit that there is a limit to what they can do giving the situation we find ourselves.

PETERiCHY:
For where

GUINNESS reduced their DEBT from N20.5B last year down to N2.5B this year.

That means the WORST is over it's now a NEW DAWN.

http://nsmnews.com/threads/guinness-nigeria-will-suspend-dividend-following-n12-6-billion-loss.1307/#.X00dvB0uU1U.facebook

Annual pretax loss of 17.07 billion naira ($45 million),its first huge loss in four years,

54% owned by UK-based drinks group Diageo

Guinness Nigeria’s sales in the 12 months through June fell to 104.37 billion naira, down 21% from the year before
pretax profit of 7.10 billion naira last year

The company cut its debt to 2.5 billion naira from 20.5 billion a year ago

Shares fell to a two-week low of 14.3 naira, valuing the company at 21.5 billion naira.

The stock has fallen 88% from its 2018 peak of 120.25 naira


BARGAIN HUNTERS TAKE NOTE!

It is better to study the company annual report directly than making conclusion based on 3rd party analysis.
Guinness outstanding loans and borrowings is still more than N22b.

lovewins:
Hello everyone

I need your help

I currently have 1BTC I want to withdraw from Blockchain to an exchanger I can withdraw I'm Naira. However, I'm not sure which will give me the best value. Kindly help with recommendations of which will give the best value right now

Thanks

Please no Nairaland buyers, only recognised exchange platforms

Binance is still by far the best for now.

The value of 4 major coins traded against the naira on binance in the last 24 hours tops N4b,that is more than 4 times the total value of stocks traded on NSE today.

ojesymsym:
What does this mean sir/ma?

There is an explanation to this on note 15

ojesymsym:
How do you go from 8.9B profit to 12.6B loss in one year? Even Oando non go do like that

The loss is more of an impairment charge on property, plants and assets which in my own opinion is not bad.
My major worry is the increase in administrative expenses and finance cost amidst a reduction in turnover.

Crazeworld:
I think you have a point here. I don't understand mathematics either but whether naira against the dollar is 500 or 300, what is the point if you don't benefit anything financially?

If a mudu of rice sells for 2k, everyone still needs to spend the naira to purchase it. I don't think I will pass up the opportunity to increase the amount of naira I have...legitimately.

I have always been an advocate of free market and my position has not changed.
If those who are in charge of the country economy think otherwise, the best I can do for myself is to take advantage of their foolishness.

einsteine:
The price would drop then go back again.

The CBN position is not backed by fundamentals. They can't keep up with the demand in the long term. People are waiting with billions (just like you waiting for it at 400) to snap at any cheap dollars.

At the end of the day, the foreign reserve will be depleted. It is a bazaar for speculators and currency hustlers.

Yes, I expect the price to drop and then go back up again.
One has to be on top of his game as a speculator.
The CBN does not have enough dollar to meet all the demands, they are just trying to manage a delicate situation and in all honesty I can't blame Meffy.

Crazeworld:
Why would you say that? If I choose to keep my money in crypto so as to protect against naira inflation, how can you fault me for not keeping it in dollars?

I was lucky to sell around 450 though. Rate has dropped below 410

Sold at 469 and will be waiting to go in again when and if price drops below 400.
I don't gain anything by arguing with market or complaining about what the CBN is (not) doing.
I am out to take advantage of whatever happens in the market to make some money.

Crazeworld:
Does this means black market rate will crash? I'm asking because I have some few dollars on Binance currently traded at 463/$. If the CBN intervention will force black market rate down, it wouldn't be wise holding on to dollars now right?

I got out of all my dollar position on binance this morning when I read the story of how CBN will start selling dollars to bdc as from next week.
Naira dollar trading on crypto sites mimic the black market rate.
I expect a fall in black market rate, the extent of which will depend on how far the CBN is willing to go in providing funding for the forex market.

ojesymsym:
Okay, they should be patient, we don't have forex to give them for now.

When they brought their money and CBN kept singing how they were increasing our reserve, nobody said they were not useful to the economy then....

ositadima1:
I know this is wrong but I am doing it any way cos this is one of d threads with d most decent and reliable people.

Does any one know about yellowcard.io ? A friend told me that I can directly fund my bitcoin account through our local bank transfer and so bypass some questionable middlemen. Is yellowcard legit?

Please I need brief answer, don't want to derail. Thank u.

Don't know much about yellowcard.io.
You don't need any middle man to buy bitcoin now, binance has simplified things for Nigerians. You can do local transfer and you can also buy with cards.

Coolcash1:
The FPI guys have been avoiding our market since the beginning of Emefielenomics that has led to wide divergence in official and parallel market rates thereby creating overnight millionaires at the expense of overall national prosperity and absence of clear policy direction. To be honest there is nothing new in the report as the current lull in the market is a testament to low appetite of this guys to come in despite the cheapness of our stocks compared to other emerging markets prices.

Nigeria is at the brink of slipping into another recession and the only way out is uniformity of forex rates.

Meffy is not the problem.
Our problem is over reliant on oil as forex earner.
Until we wean ourselves from oil, we will always have this problem of devaluation anytime there is a crash in oil price/volume no matter who is CBN governor.

ositadima1:
Not quite.


Once again, I pulled Dangote Cement PLC annual reports from 2010 to 2019 and this is what i saw:

The big Five
Sales (revenue): growth (or contraction) for the last 9 years ==> 17.9% (Compound Annual Growth Rate).
EPS: growth (or contraction) for the last 9 years ==> 5.96% (Compound Annual Growth Rate).
Equity: growth (or contraction) for the last 9 years ==> 17.43% (Compound Annual Growth Rate).
Free Cash Flow: growth (or contraction) for the last 9 years ==> 21.95% (Compound Annual Growth Rate).
Long Term Debt-to-Free Cash Flow: 0.55 (pretty good)

Notes:
Not bad as per Nigerian standard. Though, Sales, EPS, and Equity slowed down last year (2019) at -1.06%, -48% and -8.99% respectively. I assume the harsh economy took a toll on the stock.

Next, Discounted cash flow (DCF) valuation

1.) Assuming 5.96% growth (EPS above) and 15% (MoS in view) rate of return projected for the next 10 years and then discounted for MoS. Buy price would be pegged at not more than 140.59 per share.

2.) Assuming 15% growth (Equity above) and 15% (MoS in view) rate of return projected for the next 10 years and then discounted for MoS. Buy price would be pegged at not more than 227.55 per share.

Conclusions: If you can snatch it at less than 140, u are very ok.

Also, better to buy when MACD, Stochastic and MA align and echo buy!







Due diligence applies as these numbers may be off the mark.

You are doing a good job, kudos.

ultron12345:
Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

When I see/hear people saying Nigeria problems are bad leaders, I just laugh.
The whole system is rotten.

Princkez:
BUA CEMENT...CUSTODIAN INS....GUARANTY TRUST...which one of them

Likely to be Guinness.

mmsen:
You're picking one game from over 50.

I've watched this guy play since he was at Sunderland. He's decent but he isn't one of the main reasons for the league title success - Van Dijk and Alisson are for more instrumental. And in midfield Wijnaldum and Fabinho have both been consistently better.

It clearly shows that you have not been following Liverpool keenly.
People have given you some statistics about why hendo is important but your bias against him will not let you acknowledge that.
Allison,fabinho and wijnaldum missed some games and how many of those games did Liverpool loose.
Compare that to the matches that hendo missed,one cannot but see his importance to the team. His latest injury has even exposed and make them more vulnerable.
The most important player for Liverpool this year is Hendo if you want to argue the stat are there for you.

NL1960:
I do not know o. Google them and send a mail to them for the fees. They will oblige.

I hope you have not forgotten some of the things you posted earlier.
You said there were good schools that are not very expensive. Now you mentioned Loyola as one of them and you are turning back that you don't know what they pay as school fees. If you don't know the fees,why did you say they are not expensive

NL1960:
Ok. I no want chop ban as you never know what spam bot looks for.

(1) Loyola Jesuit Abuja (full boarding mixed)

(2) St Gregory's College SW Ikoyi (Boys only day and boarding)

(3) Holy Child College SW Ikoyi (Girls only day and boarding)

(4) Lumen Kristi Uromi, Edo state (Boys only full boarding)

(5) Presentation National High School, Benin (Girls only full boarding)

(6) Christ the King Catholic College(CKCC), Odolewu (Boys only full boarding)

(7) Louisvile Girls High School, Ijebu Itele (Girls only full boarding)

(8 ) Atlantic Hall Epe (Mixed full boarding)

(9) St Francis Catholic School, Idimu (Mixed day and boarding)

(10) The Lagoon school, Lekki (an Opus Dei school for girls)

(11) Jesuit Memorial Port Harcourt

(12) CKC Onitsha

(13) Marist Brothers Juniorate Uturu Abia state

(14) Whitesands School for Boys Lagos (an Opus Dei school for boys)

(15) Ambassadors college Ota (This is owned by the parents of the owner of Nairaland)

etc
etc
etc

NB: There are also several British and American schools but you have to pay in foreign currency for those. That is why i did not include them

Most of the schools you mentioned are not cheap o.
We all know Loyola Jesuit is good but can you tell us how much students pay per year.

ojeysky:
No I no wan argue,I just wan know and yes I never tey with following up actively on the market, I just see the alerts in the past without much attention to the technicalities.

Thanks for your response though I will say that the figures for 2018 and 2017 are different for march/April and August. I hope you won't say it's arguement but an attempt to understand why it is so.

Those third party analysts and sites could be misleading.
Always crosscheck whatever you see elsewhere with data on NSE website and company annual financial reports

Barrytone:
To those still leaving paying jobs to travel abroad on top harsh weather for greener pasture, may this pix not be your portion. This is France and Nigerians are hustling real hard. When they arrive naija with one convertible which is either stolen or bought with a decade long hustle, you that is living large here will feel oppressed. Be contented and increase your hustle. Most of us are better than them.

You can make your contributions without being judgemental.
Why are you not displaying the pictures of those who traveled abroad and are doing well?

RabbiDoracle:
Covid should have benefitted this company.

Most FMCG companies made tons of sales globally.

I think there may have been switch from seemingly high-end goods to cheaper alternatives. Instead of using toothbrush and tooth paste, they use a twig (pako).

In Nigeria, most of the listed FMCG companies will most likely be impacted negatively.

emmanuelewumi:
Is this correct? True or False

True, true!

Mcy56:
If we don't tell you the truth or correct some of your misconceptions about this JIJO thing, we're not fair on you nah.
If you want to jijo, make something that's a bit okay at least. 7 or 8% is even still better than 4%.
Jijo used to come with its stress and risks too, especially when your game is not in the bull period.
So play and stay safe.

I don't think there is anything wrong with what he is doing.
If someone is coming from background of trading forex or crypto, making 2% on a trade will not be a bad idea in stock market.

emmanuelewumi:
I guess they generalised based on probability and their personal experiences. Our country is a reflection of the citizens.

I think we still have honest, responsible and contented Nigerians, these set of people should be in the minority. I am looking at about 30% of our population.

My opinion though

If we have about 30% of honest and responsible people in Nigeria, the country will be better than this. By my own assessment and projection, we might not have more than 10% of such people.

1millionBoys:
My Tbills of 10m will mature in a few days'. In the absence of what to do with it, I am thinking of opening a Domiciliary account and putting it there at least to cushion the effects of further naira devaluation/ depreciation.

What do you think?

And which bank is best for domiciliary accounts.

Cc
Ahiboilandgas
Emmanuelewumi
Fairfora

Sholapey
Benzboys

Etc

This is not the time to buy dollar and keep in a domiciliary account.
This is the time for speculators, many will get richer while many others will get poorer.

DexterousOne:
What I meant

Was that in the books of the registrar

The name of every shareholder will still be in it as at a particular date...

And as for cash balance with the broker


That one is AT YOUR OWN RISK

Buying from app is different from buying through a registered broker.
I don't anyone can answer what will happen to those shares if those apps go burst.

LandMann:
Thanks a lot bro. Please quick clarification, what I want to do is transfer naira to my naira account then use the atm of the naira account to pay for the item... Hope I don't need to go open a dorm account with USD denominated atm card before I can pay for the item or spend up to this limit?

You don't need a dorm account for this.
A naira account with visa/MasterCard profiled for international transaction will do.

LandMann:
Hello. Has anyone recently paid for an item in USD online using his or her ATM naira card? How much were you charged? I want to pay for a course online and I want to know what rate my bank will charge me and go for a bank that charges less...if they all charge different rates...

Please say your bank name and how much you were charged per dollar. Thanks.

The rate is not constant but I will give out the ones I have used this month.
FBN 391 , maximum of $500 per month.
Zenith 391, maximum of $530 per month
GTB. 390, maximum of. $500 per month
Stanbic 420, maximum of $1000 per month
Fcmb. 426.
Access, 445

sellers4buyers:
I have some of this info. But I want to clear the air, my major post is not to seek for funds to trade. It's a backup fund I need. But if you want to deal with me, I have a way I do my biz, I will share with you through any electronic means of your choice, if you are okay with it, then we can deal.

I think you have a good idea and you understand what you want to do.
Getting funds from people on this forum will be difficult.

I will advise that you keep going at your own speed by doing it yourself with your own money.
Don't be discouraged, with time it will get bigger.

Towma:
Please who knows how secure trustbanc microfinance bank are?
I wanted to place some money in their fixed deposit and I dont want to lose it.

Search for their financial performance for the last five years and analyse it.
And if you cannot get that,just don't do business with them.

ositadima1:
It is doable. Let's assume he started lecturing at 24.

For a salary of 300k, if 20% (kept asside for investing) for the next 16 years ==> 300k x 12months x 16years x 20% = 11,5200,000 .

Assuming he is good at investing in real estate and stocks.

11.5 mil compounded for d next 20 years at 35% yearly return will be nothing less than ==> 11,520,000 x ( 1 + 0.35 )^ 20 = 4.66 billion !! .

That is 36 years of saving and judicious investing with God on his side. It can be done, I am trying to do this.

A young lecturer in Nigeria does not earn 300k as salary .