₦airaland Forum

Agbegbaorogboye:
Have you collected loan before? Is that how loan is calculated? Go and check loan tracker and see how loan is calculated. 2% ko, 1% ni

Agbegbaorogboye:
Now you're back to where I started from. It's weak regulations that lead to this kind of issues. Like I said, these guys have a full fledged office and some are even registered with CAC.
If someone comes with a 20% ROI, the regulators should move in on him and ask him how he intends to do that. Instead of leaving people at their mercies. That's my point

emmanuelewumi:
Depends on the loan. Most short termed salary advance loans are per month, usually between 1.5% to 2% per month from the bank. Fintech loan app operators also charge per month but usually on the high side of 5% to 10% per month.

So the guy that promised a monthly return of 20%, can easily get an overdraft credit facility at 24% per annum

Agbegbaorogboye:
How much does salary advance give? Short term loans even have higher rates than commercial loans. 5% per month is over 60% a year. That's the more realistic view of short term loan. Tell your friend @StudentTruth

emmanuelewumi:
Investors should ask relevant questions, it is there money, they worked for it. Return of their money is more important than the return on their money.

Failure to ask such questions or write the relevant authourities for confirmation is why they are dumb.


I wrote SEC about a popular Investment platform, when SEC said they are not aware of the company and their Investments, I jejely kept my funds.


In Investment, trust no one. Due Diligence is key

emmanuelewumi:
Depends on the loan provider ie bank, Fintech loan sharks, micro finance etc.


Banks are between 15% to 30% per annum, Fintech loan sharks are between 5% to 15% per month, some charge 5% per week sef.

Microfinance banks charge between 3% to 4% per month.


With Stanbic IBTC Bank and Standard Chartered Bank, you can assess loans against your salary that can be paid for 4 years. Monthly loan repayment should be equivalent to 30% or below of your monthly salary

Steve0979:
Now tell btwn bet9ja n dis which one sure pass

Agbegbaorogboye:
I agree with you. But still, even SEC or whatever being aware of it is not foolproof in Nigeria. Look at our stock market for example. A lot of people who invested between 2008 and 2010 ended up losing their money and nothing happened to the corporates and individuals that ran the SE down. They are still moving about living large till today while the average man has counted his losses and moved on.
SGBN went under and their customers lost money. Okocha would have fallen victim if not that he was lucky to get OBJ to prevail on the people that ran the place down to give him back his money. Other hapless Nigerians moved on.
Weak regulations is why we have proliferation of scams. A funnier trend I've even noticed is that some of them did not start off as frauds. They diverted when they realized nothing will happen if they refuse to give people back their monies.
Mind you, most of those investments are short term so the talk of 7years does not arise.

Agbegbaorogboye:
So you still agree bottom-line that no institution will give a loan at 2% per month in Nigeria? Mind you, there are usually hidden charges which will end up ballooning the rate las las.

studentofTruth:
The point remains that anybody that can make 20% monthly profit can easily become wealthy on a small capital and thus, does not need much capital to make huge money. So, why come for your money?

emmanuelewumi:
When you pro rate you will get 2% per month.


I got a 6 months loan from United Capital at 15%. I will liquidate my loan in December my total interest is less than 8% for the 6 months duration, this is less than 1.5% per month when pro rated.


I have another loan from FSDH Capital at 22% for 6 months, total interest will 11% when pro rated. It is also less than 2% per month

Agbegbaorogboye:
FSDH gives loans? I'm just hearing that o. These rates you're calling are tempting o. I'll like to know more about them. Can I get a link? Most of those loan providers give loan at very high rate that is not less than 30% on the capital in a year. It gets bigger as the years keep adding.
So, I'm actually amazed at this info. Mind you, microfinance don't give loans more than 2m and you must state clearly what the loan is to be used for. So I don't see them as a viable means of loan in this case.

studentofTruth:
In essence, you sell signal but on a profit-sharing basis.

What's your win rate, reward/risk ratio, and profit factor?

Geovanni412:
True talk. Something people overlook is this. If the investor is so sure he can make 20 percent a month guaranteed. He really doesn't need your money. With 200 dollars in his acct, he will make 1 million dollars in 4 years if he can hit 20 percent roi per month. As a matter of fact, such an investor will feel like he is helping you by collecting your money.
Secondly, whilst it is possible to hit 20 percent or even 50 percent roi in a month in the forex market, however, it is highly difficult and rather ridiculous to expect the investor to pay out such percentages to his clients.
It is very difficult because to make such percentages, such a person would have to use a relatively high risk ratio (6 percent or more per trade) and that person needs to have a win ratio that is about 80 percent or more. Other conditions that can help include that the person should be completely focused on trading just one currency pair and the person needs divine help to be in control of their psyche all the time. The combination of these factors are not easy to find and the people that have them will rarely publicly call for investors and when they do, they will likely make more realistic roi plans such as asking for profit sharing over a long period of time or promising low roi like 2 -5 percent per month - such a person knows promising extremely high percentages can ruin their risk mgmt strategy plans.

Nackzy:
This people should be sent to jail to chill forever

NybenSBF101:
Na so crptocurrency guys go cry soon. I don't understand why people invest in liability because you see some persons living flashy lifestyles and you think it is from forex or bitcon? Na Yahoo Yahoo o

emmanuelewumi:
Check this out.

How are you sure of the next United capital, APR, Okomu, Presco, Dangote Flour, NEM

DanseMacabre:
Hmmm.


The point is that Nigerians are the most gullible set of people on earth.



If you wan hoodwink dem patapata just add 'Pastor Reverend Doctor Bishop Imam Sheikh Deacon Apostle' to your name; na dem go dey chase you with their money follow.

Geovanni412:
Disclaimer : Not financial advice. this is for merely educational purposes.
I wouldn't want to bore anyone with too much technicalities. The trick for a[b] newbie[/b] in charting is this : find a good company in banking sector with long history on the charts ---at least 10 years ---find the highest price it has made within the time period,make a decision to buy the stock of the good company when it drops anywhere from 75-90 percent from its' peak.
For food sector, Okomu oil and Presco plc are[b] anomalies[/b] -Okomu is owned by socfin, a belgian company that has been doing oil palm business since[b] 1909[/b].For other food companies, apply the same formula i gave for the banking sector and you would survive. There are tips on how and when to escape but I no fit exhaust all that for one post. Example: Flour mills has been solid for a number of years in terms of mgmt and good dividend history- its' high in 2013 was 94 naira, that means i should be targeting a buy anywhere downwards from 23 naira. any questions- dm me and i'll respond-no charges.

emmanuelewumi:
Genuine Investment and money making opportunities are highly coded, you need to know this.

Are you trying to say that Nigerians are so kind and loving that they will share their money making secrets to a stranger met on the social media?

Count your loses and move on

emmanuelewumi:
Very important to invest in what you understand. Investing for easy money will lead to frustration.

Stocks were highly over valued between 2006 and 2008, massive correction and long bear are expected. Reason why Investors should invest for cash flow, be diversified in cash, bonds, equities, real estate, small businesses etc.

babaolofin:
You are right. An American who is into Minerals exploration business whom I met in Suleja in 2006 told me nobody will have a secret of how to make millions and will be teaching people.

He made that statement because of some young men from Lagos who came to Suleja to teach people forex trading. He said if forex trading is as profitable as they advertised it, then, they have no business doing training across Nigeria. He said they are just using the training to make millions and milk money from their trainees . He said their main business is the training and not the forex trading.

Few years later, Blackwell Global a forex trading company opened at Allen Avenue. Many people rushed there. At the end, investors lost their money.

People should be very careful. On various FM Radio Stations in Lagos , Ogun and Oyo there are different advertisements of different local and international busi
esses that are not real but just to make money from ignorant, foolish and greedy members of the public.

Mohzus:
Epa , I wanna ask u something . Apart from everyone talking about the financial markets . What other guages should one use to know if the market is overvalued . Thanks

emmanuelewumi:
I will consider the average dividend yield, average price earning ratio and earning yield

The average dividend yield in 2008 was about 2%, average PE ratio was about 40.

Mind you, there is nothing bad in a PE ratio of 40 and above provided earnings are growing at 40% and above.


My opinion though

franchasng:
Nigeria is a fertile soil for Ponzi business. Maybe its time I launch mine and cash out like others before it becomes obsolete, and before my Burundi visa expires