GAZZUZZ:
The title might seem unpatriotic, but not entirely so.

Quick story

In 2018 I sold an SUV to a friend at 3.5m, he paid 2m and said he would balance up in the future.

Fast forward to 2021 October he pays me ₦1m with a pending balance of ₦500,000.

Vehicle sold in 2018 is now ₦5.3m in 2021.


Lesson learnt.

Going forward all transactions that have to do with pending payments will be signed as dollar equivalents .

Meaning if you want to take a loan or owe me large sums of money E.g ₦1m (sept 2021 2,433.5799 US Dollars) all we will do is check current dollar rate and peg repayment on the dollar equivalent in the future (2,433.5799 US Dollars)


The end

GAZZUZZ:
The title might seem unpatriotic, but not entirely so.

Quick story

In 2018 I sold an SUV to a friend at 3.5m, he paid 2m and said he would balance up in the future.

Fast forward to 2021 October he pays me ₦1m with a pending balance of ₦500,000.

Vehicle sold in 2018 is now ₦5.3m in 2021.


Lesson learnt.

Going forward all transactions that have to do with pending payments will be signed as dollar equivalents .

Meaning if you want to take a loan or owe me large sums of money E.g ₦1m (sept 2021 2,433.5799 US Dollars) all we will do is check current dollar rate and peg repayment on the dollar equivalent in the future (2,433.5799 US Dollars)


The end

BiafranBushBoy:


Sorry about your situation.

People are just so unreliable and can’t be trusted.

Good decision going forward.

Most times I lend money, knowing that they won’t pay back… so they won’t have to ask me for money again.

Win Win Situation.

almsofgold:
sense wee not kee you

kinglee007:
And after we have signed the agreement, what are the odds that the dollar might not fall as a result of change in World Economic Policy that might arise due to severe climate change, draught, unpredicted war, or financial stability in Nigeria leading to a rise in the Naira?

Who e go favour?

kinglee007:
And after we have signed the agreement, what are the odds that the dollar might not fall as a result of change in World Economic Policy that might arise due to severe climate change, draught, unpredicted war, or financial stability in Nigeria leading to a rise in the Naira?

Who e go favour?

OPUSDEI1:
What if finally bubu now makes #1 to $1?

GAZZUZZ:
The title might seem unpatriotic, but not entirely so.

Quick story

In 2018 I sold an SUV to a friend at 3.5m, he paid 2m and said he would balance up in the future.

Fast forward to 2021 October he pays me ₦1m with a pending balance of ₦500,000.

Vehicle sold in 2018 is now ₦5.3m in 2021.


Lesson learnt.

Going forward all transactions that have to do with pending payments will be signed as dollar equivalents .

Meaning if you want to take a loan or owe me large sums of money E.g ₦1m (sept 2021 2,433.5799 US Dollars) all we will do is check current dollar rate and peg repayment on the dollar equivalent in the future (2,433.5799 US Dollars)


The end

kinglee007:
And after we have signed the agreement, what are the odds that the dollar might not fall as a result of change in World Economic Policy that might arise due to severe climate change, draught, unpredicted war, or financial stability in Nigeria leading to a rise in the Naira?

Who e go favour?

GAZZUZZ:
The title might seem unpatriotic, but not entirely so.

Quick story

In 2018 I sold an SUV to a friend at 3.5m, he paid 2m and said he would balance up in the future.

Fast forward to 2021 October he pays me ₦1m with a pending balance of ₦500,000.

Vehicle sold in 2018 is now ₦5.3m in 2021.


Lesson learnt.

Going forward all transactions that have to do with pending payments will be signed as dollar equivalents .

Meaning if you want to take a loan or owe me large sums of money E.g ₦1m (sept 2021 2,433.5799 US Dollars) all we will do is check current dollar rate and peg repayment on the dollar equivalent in the future (2,433.5799 US Dollars)


The end

Bonesbreaker:
things i don't do lend money to my friend i prefer assisting two i don't give without something to back it up incase you choose to die or disappear,as for friends if you ask me of 200k if i have 50k i give you telling you to pay back if you pay back fine if you no payback awesome too

Alfred74:



This write up dey give all man better migraine.No form of punctuations at all.Even comma that everybody use like water,you cannot put

4xplore:
You are better off collecting the money in dollars rather than naira pegged to current exchange rate.

GAZZUZZ:


I need to spend naira not dollar, so I'll rather peg it and collect current value in Naira

seunoj:
Time value of money.