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Stop Lending Money To People In Naira - Business (4) - Nairaland

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How Can I Stop Lending Money To Friends And Family? / Ugandan Bank Accused Of Lending Money To Dead Man / Should I Stop Lending People Money? (2) (3) (4)

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Re: Stop Lending Money To People In Naira by brandsoncharlie: 7:48am On Nov 05, 2021
princepee:
3.5m car in 2018 will loose it's value in 2021.
A car is not an asset.
Not when inflation, taxes are high.
That perception isn't true.
Re: Stop Lending Money To People In Naira by star4ever: 7:49am On Nov 05, 2021
I tire o! grin grin grin grin grin
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 angry
Re: Stop Lending Money To People In Naira by Creeknigga(m): 7:50am On Nov 05, 2021
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

I was thinking of this same thing few days ago.
A friend of mine borrowed about 180k from me some 4 yrs ago and he is yet to pay.
Then I was thinking; 180k value now is not the same as 180k some 4 years ago. embarassed

1 Like

Re: Stop Lending Money To People In Naira by holar2ge(m): 7:50am On Nov 05, 2021
I can't view pictures included in every thread. Why pls?
Re: Stop Lending Money To People In Naira by naijapips04: 7:53am On Nov 05, 2021
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


why didn't you buy dollar with the Naira he paid you?
Re: Stop Lending Money To People In Naira by JaskanFactor: 7:53am On Nov 05, 2021
Everybody should just agree to stop using that currency, right down to street traders.
Naira is theft, the rate at which it devalues so fast is not cause Nigeria cant develop, but because the colonial masters that still run Nigeria want to keep it as a dump, as such the currency is never going to improve, just like dustbin is never going to smell well like the bedroom.


Turn land, house , car, dollar, pound , euro etc into your new currency .

Use the currency of the colonial master s that run Nigeria, they make thier own things better than they allow us to have.

Dont fool yourself that we ever got independence and that Nigeria is your country and naira your currency
Nigeria is slave zoo, with slave currency , still very much under racist colonial rule.

All of the best financial , industrial scientific, and engineering institutions world wide are full of southern Nigerians, if allowed we can turn nigeria into netter than europe, but our racist colonial masters dont want this. So jawo ninu apon tio yo.

Until God All mighty have mercy to rescue us from colonial slavery by racist enemies , naira will keep falling like stone.

1 Like

Re: Stop Lending Money To People In Naira by MRDEE01: 7:54am On Nov 05, 2021
Sunkyapogee:
If you are given this opportunity you will still abuse it.

What opportunity are you talking about?
Re: Stop Lending Money To People In Naira by Ndidi2: 7:57am On Nov 05, 2021
I have $320 for sale at #180000.
Address: alagbado.
Quote me if ua interested
Re: Stop Lending Money To People In Naira by kinglee007(m): 7:57am On Nov 05, 2021
femi4:
And you think if dollar falls your naira will rise? You should know that the dollar in it's falling state worth more than naira

There's was once a time the Naira was the dollars' equivalent. Nothing is impossible
Re: Stop Lending Money To People In Naira by FIRDAUS3(m): 7:58am On Nov 05, 2021
Understandable.....
Re: Stop Lending Money To People In Naira by stanech: 7:58am On Nov 05, 2021
MRDEE01:
Same as saving money.
Save in dollars



Hello nairalanders.
I am an experienced bolt driver based in abuja.

I am looking for a partner who can provide me a car to drive on Bolt platform,either on weekly remittance or hire purchase basis.

Thank you.


Please I need more on this.
Re: Stop Lending Money To People In Naira by gadgetplanetng: 8:00am On Nov 05, 2021
There is inflation in the US currently grin
Re: Stop Lending Money To People In Naira by Adadioranma79(f): 8:00am On Nov 05, 2021
Come and borrow me 200k

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
Re: Stop Lending Money To People In Naira by horladexino(m): 8:02am On Nov 05, 2021
today is my birthday nairalander
pls shower me with blessing
i dnt have generator to work again and the nepa no bring light during the day it frustrating
pls no let sapa kill me
0081815222
UNION BANK
Re: Stop Lending Money To People In Naira by GAZZUZZ(m): 8:03am On Nov 05, 2021
Readability:

Way to go bro. My brother borrowed me 500k in the month of May this year, due to be paid year ending. I know the money would be chicken change by then, because I bought dollar with it at the rate of 487 and traded it for SOL at $15. We all now dollar's 560+ now. grin grin grin grin

Nah brothers wey get sense like you I need wink
Re: Stop Lending Money To People In Naira by BelovedofLord: 8:05am On Nov 05, 2021
OPUSDEI1:
What if finally bubu now makes #1 to $1?

That's a pipe dream!
Bubu is not able to make #100 to $1!!!
Re: Stop Lending Money To People In Naira by Excelbliss81: 8:08am On Nov 05, 2021
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


I actually thought about this few days ago.

Re: Stop Lending Money To People In Naira by Gerrard59(m): 8:10am On Nov 05, 2021
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?

No time in history has the naira ever appreciated against the dollar.

Numbers don't lie.
Re: Stop Lending Money To People In Naira by Gerrard59(m): 8:13am On Nov 05, 2021
Oludara202:
Like I didn't make much sense when I told my colleagues that salaries should be negotiated in USD

Unless the company is generating revenues in USD, this doesn't make sense.
Re: Stop Lending Money To People In Naira by Savi78(m): 8:17am On Nov 05, 2021
ur head dey there
Re: Stop Lending Money To People In Naira by SocialJustice: 8:20am On Nov 05, 2021
almsofgold:
sense wee not kee you.

Mechanic

Car salesman

Rewire

Welder

Panel beater

Ac technician

Tv repairer

Phone repairer

Father

Husband

Economist ..........you can add yours

Gazzuzz , The man with many powers


Salud. grin grin grin
Hunger no fit meet am at all. When day break, money must enter hand.

2 Likes

Re: Stop Lending Money To People In Naira by Sambab(m): 8:22am On Nov 05, 2021
What if Dollar come down in value?
Re: Stop Lending Money To People In Naira by kinglee007(m): 8:23am On Nov 05, 2021
Gerrard59:


No time in history has the naira ever appreciated against the dollar.

Numbers don't lie.

Nobody ever said it will appreciate against the dollar. But "what if" ( and that's a Big WHAT IF) it gets to become it's equivalent or almost it's equivalent?
Re: Stop Lending Money To People In Naira by Faber(m): 8:25am On Nov 05, 2021
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


Good one. I go follow this route
Re: Stop Lending Money To People In Naira by femi4: 8:30am On Nov 05, 2021
kinglee007:


There's was once a time the Naira was the dollars' equivalent. Nothing is impossible
You must be living in stone age. You think things like that will just happen without conscious effort
Re: Stop Lending Money To People In Naira by anoda(m): 8:34am On Nov 05, 2021
MRDEE01:
Same as saving money.
Save in dollars



Hello nairalanders.
I am an experienced bolt driver based in abuja.

I am looking for a partner who can provide me a car to drive on Bolt platform,either on weekly remittance or hire purchase basis.

Thank you.


How? crypto is just too volatile
Re: Stop Lending Money To People In Naira by boogie2: 8:37am On Nov 05, 2021
Don't be too greedy. That SUV you sold has depreciated in value and consumed much in terms of fuel an maintenance.

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

Re: Stop Lending Money To People In Naira by CocoaOla: 8:41am On Nov 05, 2021
clothingonline:
Inflation makes all durable products profitable but as large effect on the low and middle income
You are olodo
This is what inflation lead to make the currency totally worthless and betray you

1 Like

Re: Stop Lending Money To People In Naira by motymop: 8:41am On Nov 05, 2021
Someone owns you money since 2018 but then you want to collect the worth of it using dollar to naira exchange rate.

Why don't you calculate for inflation and collect your money.

Isn't it greed to collect debt using future exchange rate
Re: Stop Lending Money To People In Naira by dosage150(m): 8:42am On Nov 05, 2021
MRDEE01:
Same as saving money.
Save in dollars

How can one save money in dollars

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