₦airaland Forum

Akin3891:
I had a smooth one with dangote cement last year, though at a poor rate (5%).

Can one buy into this with Fbnquest? Ps. I doubt I can even meet up with the closing day, repatriating funds from Stanbic money market could be time consuming.

I noticed that not all investment houses were used, just check with them, last month fbnquest even floated one. Tomorrow is not late, keep pushing.

Last year, 5% was better than 2%

I know. Think it should have dropped with the institution used yesterday and perhaps credited to account/bond holders today. That's my best guess. But yes I do agree account/bond holders should have been credited yesterday. Its technically a day late at best for now... I would be surprised and concerned if the coupon payment is not received today.

emmanuelewumi:
Today is Tuesday,

condomuser:
The FGN bonds that is due today, has anyone been paid?.
I heard the senate approved fresh N982 billion for buhari, with the way things are going, the govt is likely to run out of printing paper when they can't afford to repay all loans

Please see the summary of the Monetary Policy Committee’s (“MPC”) decisions at its fourth (4th) meeting of the year, which held July 26 - 27, 2021 below:
 
Committee’s decisions:

Retained Monetary Policy Rate (“MPR”) at 11.50%

Retained Cash Reserve Ratio (“CRR”) at 27.50%

Retained Liquidity Ratio (“LR”) at 30.00%

Retained Asymmetric Corridor at +100bps/-700 basis points around the MPR

 
Other notable pronouncements with respect to the Foreign Exchange (“FX”) Market are as follows:

The CBN will henceforth discontinue the sale of FX to Bureau de Change (“BDC”)

The CBN will no longer process BDC license applications regardless of the stage of the application

The CBN will channel weekly FX sale (i.e.,$100.00mm) previously sold to BDCs to Commercial Banks to meet legitimate FX needs as prescribed by the CBN FX Manual

All Commercial Banks must create a dedicated teller point in their branches for the sale of FX to customers that require FX for legitimate purposes

United Capital Money Market Fund is now 10.33%

IyaTola:
He didn't kick against the bolded he said 5% of your networth. He would soon buy into the crypto space soon. Watch out for his analysis.

When it starts generating cash flow.

Cash flow is more important to me than capital appreciation.

IyaTola:
The reason CBN is opening a digital currency soon.

That doesn't solve anything.

Since most of transactions have gone cashless, it is digital to an extent

Akin3891:
I had a smooth one with dangote cement last year, though at a poor rate (5%).

Can one buy into this with Fbnquest? Ps. I doubt I can even meet up with the closing day, repatriating funds from Stanbic money market could be time consuming.

You should have gotten your funds, most commercial papers are for 180 days to 270 days

emmanuelewumi:
That doesn't solve anything.

Since most of transactions have gone cashless, it is digital to an extent

currency

yazga:
currency

The digital currency planned by CBN is different from crypto currency.

emmanuelewumi:
The digital currency planned by CBN is different from crypto currency.

crypto is a digital currency and it not in physical form.

yazga:
crypto is a digital currency and it not in physical form.

There is a huge difference between a Sovereign Digital currency and crypto currency

emmanuelewumi:
There is a huge difference between a Sovereign Digital currency and crypto currency

Oga boss, can you explain the difference?

yazga:
Please see the summary of the Monetary Policy Committee’s (“MPC”) decisions at its fourth (4th) meeting of the year, which held July 26 - 27, 2021 below:
 
Committee’s decisions:

Retained Monetary Policy Rate (“MPR”) at 11.50%

Retained Cash Reserve Ratio (“CRR”) at 27.50%

Retained Liquidity Ratio (“LR”) at 30.00%

Retained Asymmetric Corridor at +100bps/-700 basis points around the MPR

 
Other notable pronouncements with respect to the Foreign Exchange (“FX”) Market are as follows:

The CBN will henceforth discontinue the sale of FX to Bureau de Change (“BDC”)

The CBN will no longer process BDC license applications regardless of the stage of the application

The CBN will channel weekly FX sale (i.e.,$100.00mm) previously sold to BDCs to Commercial Banks to meet legitimate FX needs as prescribed by the CBN FX Manual

All Commercial Banks must create a dedicated teller point in their branches for the sale of FX to customers that require FX for legitimate purposes

Will this increase the value of naira to dollar or make it?? drop further

kristien4:
Will this increase the value of naira to dollar or make it?? drop further

At the moment CBN is foncused

yazga:
Oga boss, can you explain the difference?

Sovereign Digital currency is issued by CBN and has government backing, it is the electronic or digital version of a country's Fiat money, it is regulated, not volatile, not a tool for speculation or get rich quick schemes, used for normal transactions that the national currency is used for because it is a legal tender

https://www.nairaland.com/6672005/cbn-supply-forex-banks-only

I foresee more economy woes for Nigeria, dollar scarcity is looming.

emmanuelewumi:
Sovereign Digital currency is issued by CBN and has government backing, it is the electronic or digital version of a country's Fiat money, it is regulated, not volatile, not a tool for speculation or get rich quick schemes, used for normal transactions that the national currency is used for.

The difference I see here is regulations. In no time crypto will be regulated.

emmanuelewumi:
United Capital Money Market Fund is now 10.33%

Is it safe?
Can I pull out capital at anytime?

I'm currently managing Wema bank Alat goal at 8.5%

yazga:
The difference I see here is regulations. In no time crypto will be regulated.

Seriously?

Which country CBN issues crypto? Which country's government is backing it? which country's fiat currency has it as it's electronic or digital version? How about the volatility issue and being used as tool for speculation/get rich quick scheme.? Can you just enter a shopping mall now or restaurant and pay with crypto after shopping or eating?

The dissimilarities are more than just lack of regulations...

Akin3891:
I had a smooth one with dangote cement last year, though at a poor rate (5%).

Can one buy into this with Fbnquest? Ps. I doubt I can even meet up with the closing day, repatriating funds from Stanbic money market could be time consuming.

Tomorrow Wednesday is the closing date for it. You can just google Coronation Marchant Bank and mail or call the address/number seen in their first thing tomorrow morning. To see if you can still accommodate you. It is not a must for you to have an account with them.

All that is required is for them to mail you the commitment form. Then you fill, scan and send it to them immediately. So long as you have your CSCS and CHN number close and you are in a place you can immediately print and scan the form it should fly.

freeman67:
Seriously?

Which country CBN issues crypto? Which country's government is backing it? which country's fiat currency has it as it's electronic or digital version? How about the volatility issue and being used as tool for speculation/get rich quick scheme.? Can you just enter a shopping mall now or restaurant and pay with crypto after shopping or eating?

The dissimilarities are more than just lack of regulations...

Yes. People are scared of change. There are people collecting crypto in Nigeria.

Akin3891:
https://www.nairaland.com/6672005/cbn-supply-forex-banks-only

I foresee more economy woes for Nigeria, dollar scarcity is looming.

I actually feel same way too... maybe by december dollar go enter 600naira/dollar

Akin3891:
https://www.nairaland.com/6672005/cbn-supply-forex-banks-only

I foresee more economy woes for Nigeria, dollar scarcity is looming.

Of course, of course

feelamong:
http://www.proshareng.com/news/16648

The treasury bills market was very active during the week, particularly at longer end, as there was high demand for the 07-03-2013 (364day) and 21-06-2012 (91day) bills. In addition, we note that the CBN intends to issue c. N917.77 billion during the second quarter against N960.13 billion out of which shown on the first quarter calendar. The current amount of Tbills issued so far in 2012 is c. N621.89 billion. This shows a slight decrease of 4.41% in the proposed volume to be issued in the second quarter when compared with that of the first quarter.

In the week ahead, we expect the monetary authorities to hold the benchmark rate stable at the least whilst we anticipate a moderate increase in year-on-year inflation. Also, there will be a treasury bill auction of c. N101.23 billion 91day and 182day tenors.

Guys if you want to make money through crypto just click this link you will be given 500 bremit equivalent to 25 USD and you will be able to cash out by September to
any of this two verified platform Trust wallet and binance. https://bremit.io/BR857930528

emmanuelewumi:
United Capital Money Market Fund is now 10.33%

How do one subscribe

yazga:
The difference I see here is regulations. In no time crypto will be regulated.

Regulated by who, something that is decentralized and is expected to bypass government and Central Banks

glimpse33:
Is it safe?
Can I pull out capital at anytime?

I'm currently managing Wema bank Alat goal at 8.5%

Read up on the regulations of mutual funds in Nigeria

This classification for micro, small and medium size businesses was made about 10 years ago.

I think a business with an asset of N10 million and below is a micro business, considering the value of Naira

Have you received your coupon payment?

XiaoLi:
Coupon on FGN 2045 bond which is supposed to drop on July 24th is not received until now, I used FirstBank.
Did anybody else experience this?

Pls how do I open account with fbnquest

emmanuelewumi:
Regulated by who, something that is decentralized and is expected to bypass government and Central Banks

House committee in America has given SEC today to come up with some regulation. The biggest exchange is looking for a CEO with regulatory experience.