Streetinvestor2:
I don't know what you mean being emotional
All I said is simple,naira had no business going above #750 after the government floating because that was the fair/stable price and true market value because nothing changed in the economy. And if we look at it now because of less demand it should be less than #750.

Therfore I believe the government is reaping us off on anything above #750 black market price they met it

The government is doing the right thing even if thr approach could be better though I am not a fan of apc/tinubu

The true value represents the rate at which market participants- including everyday Nigerians can exchange for. Before this current dispensation, the last time we has a true value was at 150 ish

The black market rate was once 350, then 500, 750, 950. Which of them represented the true value of the naira? Giving usd to a select few at cheaper rates also subsidised the black market rate but in turn generated a gaping hole. Which is why the street price rose whenever CBN adjusted its rates.

What the CBN did for years was cover an infested wound with plaster and tell us look! it's healing well. What you are asking is how deep did the infection go- the answer is simple- we don't know cos we never bothered to find out.

RayRay06677:


1. 20% and above

2. I doubt that's true, traded secondary market on the 18th of April at 17.2% on 343 days.

3. Discuss with your bank, they always tell me it depends on availability of buyer. I just feel we wouldn't have a buyer at that rate. Losses are likely as T&C applies.

Thanks for your reply. I'll av to wait till July then. Hopefully the current surge in ROI will still be maintained in three months time. Once again, thanks

Guys, have you been using Meta AI in Whatsapp
I consider it dope and reliable. Check this out:

Omo I should have bought dollars at 1k o. I been think say e go drop to 500 not knowing say na back up to 2k 😭😢😪

Wotowotoman:
Omo I should have bought dollars at 1k o. I been think say e go drop to 500 not knowing say na back up to 2k 😭😢😪

You can still buy at 1,300 nah, sebi is going back to 2k 😏

Massive gain 😐

oluayebenz:


You can still buy at 1,300 nah, sebi is going back to 2k 😏

Massive gain 😐

😂

oluayebenz:


You can still buy at 1,300 nah, sebi is going back to 2k 😏

Massive gain 😐

He was waiting for it at 700 based on your forecast

oluayebenz:
In-market rate is now #950 / 1usd

Dollar will likely settled at 700 by June

Itsrm:


He was waiting for it at 700 based on your forecast

No back off on my forecast.

Jus wait and see

How good is this Fidson Pharma Commercial Papers? Rates very enticing but how reliable are they?

Someone pls explain the discounted rate vs Implied Yield thingy seeing its not up to 365 days period? Will the rates be pro-rated?

sanerugwei:
How good is this Fidson Pharma Commercial Papers? Rates very enticing but how reliable are they?

Someone pls explain the discounted rate vs Implied Yield thingy seeing it's not up to 365 days period? Will the rates be pro-rated?

Did most of their previous series and no issues. payment is timely. Yield is compounding, no interest till maturity while rate is the simple interest which you will get the interest upfront, and you get capital at maturity.

Luckily, i have being broke since January hence missing all these groovy rates.

This week Auction.

Nakedman:
This week Auction.

Missed out , when is the next one coming ??

Hello Everyone, This thread have been helpful. I stumbled on it during my google search on Treasury bill in Feburary.
After the back and forth with Gtbank, i was debited on the 27th of March for 1 year Tenor. The interest rate was almost 19%.

Please ooo, Is it only Afrinvest one can invest with for the FGN savings bonds?
It seems one cannot invest with Banks

RayRay06677:



Luckily, i have being broke since January hence missing all these groovy rates.

Have they changed the meaning of "Luckily"? 😁😁

emdeeCreativeW:
Hello Everyone, This thread have been helpful. I stumbled on it during my google search on Treasury bill in Feburary.
After the back and forth with Gtbank, i was debited on the 27th of March for 1 year Tenor. The interest rate was almost 19%.

Please ooo, Is it only Afrinvest one can invest with for the FGN savings bonds?
It seems one cannot invest with Banks

You can try Investment One or a stock broking firm. I'm not sure banks are among the authorized dealers for the instrument.

sanerugwei:

Someone pls explain the discounted rate vs Implied Yield thingy seeing its not up to 365 days period? Will the rates be pro-rated?

1m invested for 180 days, discount rate is 19.85%,
Your upfront interest is 1000000 * (19.85/100) * (180/366)= 97,600.
Since you're getting the interest upfront, it means you didn't actually invest 1m, but rather only 902,400.
So the 97,600 is the return on just 902400.
97600 as a percentage of 902400 gives 10.816% yield in 180 days, you annualize it by multiplying by 366/180 to get 22%.

When you discount WHT, it really becomes just 19.8%.


1m invested for 270 days, discount rate is 21.46%,
Your upfront interest is 1000000 * (21.46/100) * (270/366)= 158,300.
Since you're getting the interest upfront, it means you didn't actually invest 1m, but rather only 841,700.
So the 158,300 is the return on just 841700.
158300 as a percentage of 841700 gives 18.81% yield in 270 days, you annualize it by multiplying by 366/270 to get 25.5%.

When you discount WHT, it really becomes just 22.95%.

awesomeJ:


Have they changed the meaning of "Luckily"? 😁😁

Luck: was able to attain a major milestone in my investment life and lump summed everything in January for a lil above 15% till 2038.

Reason I am broke yet considered myself lucky.

Thanks to everyone that's encouraging me here.

emdeeCreativeW:
Hello Everyone, This thread have been helpful. I stumbled on it during my google search on Treasury bill in Feburary.
After the back and forth with Gtbank, i was debited on the 27th of March for 1 year Tenor. The interest rate was almost 19%.

Please ooo, Is it only Afrinvest one can invest with for the FGN savings bonds?
It seems one cannot invest with Banks

Nope, you can invest through other financial institutions too.

I do it through Stanbic IBTC and Morgan Capital group. There are many other firms that you can use too. You only just ask/indicate interest and you will start getting the info.

awesomeJ:


1m invested for 180 days, discount rate is 19.85%,
Your upfront interest is 1000000 * (19.85/100) * (180/366)= 97,600.
Since you're getting the interest upfront, it means you didn't actually invest 1m, but rather only 902,400.
So the 97,600 is the return on just 902400.
97600 as a percentage of 902400 gives 10.816% yield in 180 days, you annualize it by multiplying by 366/180 to get 22%.

When you discount WHT, it really becomes just 19.8%.


1m invested for 270 days, discount rate is 21.46%,
Your upfront interest is 1000000 * (21.46/100) * (270/366)= 158,300.
Since you're getting the interest upfront, it means you didn't actually invest 1m, but rather only 841,700.
So the 158,300 is the return on just 841700.
158300 as a percentage of 841700 gives 18.81% yield in 270 days, you annualize it by multiplying by 366/270 to get 25.5%.


When you discount WHT, it really becomes just 22.95%.

Apt..

RayRay06677:


Luck: was able to attain a major milestone in my investment life and lump summed everything in January for a lil above 15% till 2038.

Reason I am broke yet considered myself lucky.

Thanks to everyone that's encouraging me here.

Sometimes I wonder if you just dey chase clout or if you no just bright. How can you claim to be a man in his 50s approaching retirement that has been on this thread for several years and yet you sound so naive about investing.

Always asking very basic questions about investing and claiming to make mistakes and needing advice and encouragement. Something doesn’t add up abeg. You are most likely a troll!

Wotowotoman:


Sometimes I wonder if you just dey chase clout or if you no just bright. How can you claim to be a man in his 50s approaching retirement that has been on this thread for several years and yet you sound so naive about investing.

Always asking very basic questions about investing and claiming to make mistakes and needing advice and encouragement. Something doesn’t add up abeg. You are most likely a troll!

GUY,
YOU SANE.
KEEP IT UP.

Between January and March this year, Dangote cement sold 4.6m tonnes to Nigerians at about 453bn, that's like 98,000 per ton, they sold 2.4m tonnes to the rest of Africa for about 382bn. That's like 159,000 per tonne.

I think the Dangote group is becoming beneficiary to our economy.

I wonder though why the average cost of cement was 200,000 per ton (10k per bag) in that period.

Nakedman:
This week Auction.

Wow 😳

alezzy13:


Wow 😳

I received 190,674 naira for one million naira invested at FirstBank for 364 days, which I think amounts to approximately 19% interest rate. Although I saw the official rate advertised as 20.7%, they must have deducted tax and other costs. It has been a long time since I last invested in treasury bills.

ositadima1:


I received 190,674 naira for one million naira invested at FirstBank for 364 days, which I think amounts to approximately 19% interest rate. Although I saw the official rate advertised as 20.7%, they must have deducted tax and other costs. It has been a long time since I last invested in treasury bills.

Doesn't mean First bank bidded at 20.7.

Check your proof of investment. It's all detailed there.

Pls is it safe to invest in any of this

This should be under iinvest platform, you can go ahead. Nothing to fear.

abiolag:
Pls is it safe to invest in any of this

Streetinvestor2:
Go and buy more now.You will get your full at 1300-1350.I started warning your likes in stock trade when it was #1600..I told them to expect it at 1k by end of the yr but it looks it is going to happen faster.
Very soon we will be seeing them on third main land bridge. Why should dollar exchange in the first place above 1k even with the floating. The useless binance executive why is he on the run.The government should make sure they hang the one in custody. And I don't even know why they are still allowing the remaining 1500 bdc to operate. Let the bank handle all forex matter

Chief I don't know why you have issues with those who prefer to save in dollars o

The common man on the street is not the cause of the exchange rate debacle we are experiencing, the politicians are the one responsible for it. How many individuals that are not politically exposed can buy 10k at a go.

You are leaving the problem and facing the symptoms.

Without a drastic cut in bogus annual by FG, the devaluation is bound to continue



https://twitter.com/olumidecapital/status/1781664714558198012?t=rcopC6MuhFHI02CZJnVZQw&s=19


https://twitter.com/Imranmuhdz/status/1783716519748255831?t=gnCU8Uz1FnARYBGuP4w9SA&s=19

blkmum700:



Missed out , when is the next one coming ??

Two weeks time most likely

How long does it take for Stanbic IBTC to debit in a secondary market

I do not think there will be need for any future devaluation because the official rate is now just a little below the black market rate. That means they now move together

pizapato:


Chief I don't know why you have issues with those who prefer to save in dollars o

The common man on the street is not the cause of the exchange rate debacle we are experiencing, the politicians are the one responsible for it. How many individuals that are not politically exposed can buy 10k at a go.

You are leaving the problem and facing the symptoms.

Without a drastic cut in bogus annual by FG, the devaluation is bound to continue



https://twitter.com/olumidecapital/status/1781664714558198012?t=rcopC6MuhFHI02CZJnVZQw&s=19


https://twitter.com/Imranmuhdz/status/1783716519748255831?t=gnCU8Uz1FnARYBGuP4w9SA&s=19

ojesymsym:
I do not think there will be need for any future devaluation because the official rate is now just a little below the black market rate. That means they now move together

But he is right sha that if these politicians don't put themselves in check, we may just be postponing the evil days. Almost $1m that could have been used to do rice farming for instance, or dairy farming and save us like $2m in import bill. Imagine $2m saved from 1000 corrupt politics, it becomes significant.