₦airaland Forum

AreaFada2:
. But those 30k BMC goons and jobless zombies say Buhari is the father of modern economic wonder.
I do not blame them. Na who chop belleful and buy dollar or invest will know about failing economy. So BMC zombies won't know. Since many still eat from mummy's pot and collect transport money from daddy, they won't know about inflation either.

Milllz:
I don’t know about that, but Bitcoin is the worst investment to make right now unless you’re into short buying and selling.

Mariangeles:
Rextizz what do you have to say about this ??

Milllz:
There’s only 1 principle;

Change all your funds to hard currencies because if Buhari mistakenly wins again, the value of our currency will crash.

IbrahimDamola:
My brother, I suffered hell after the last 2015 election. The euphoria caused a cosmetic but short lived increase in the stock market, I remember Garba shehu claiming that the increase the stock market was a result of booharri economic mastership even without Ministers. He claimed 'Nigerians have never had it so good'.

Then few weeks later the stock market crashed, naira crashed, banks where I deposited Dollar in my domicilliary account where unwilling to pay us pack in dollars, they were asking us to take naira even at a much lesser value than what was deposited, they claimed it was CBN policy, I was told I couldn't even buy goods with dollars in my account from China and India. Later they said I was going to need an 'inflow' from outside the country to pay for goods in China and india, that the cash deposit in my account even though enough to pay for goods 'does not qualify'. There was chaos, Godwin emefiele the dunderhead at CBN was confused. It was One 'trial and error' useless policy after another.

I was incensed and remember confronting the bank manager on one occasion, I told him in clear terms, 'I gave you dollars when I deposited in my account, give me back my dollars!', 'you don't have dollars but you are giving dollars to big men and politicians for round-tripping abi'. I was ready to cause a scene in that bank. They finally gave my dollars in CASH and I took it start saving it at home till today, I've not touched that dorm account again.

See, buharii was a pain the arse economically, he needs to be booted out. Nobody with great financial intellect will support him. Nobody!

somehow:
Then you're obviously not financially wise if you believed a new government economic policy is to have an effect in the market that early.

What happened was a shock (spike) which mostly happen due to uncertainty in the market.

somehow:
Then you're obviously not financially wise if you believed a new government economic policy is to have an effect in the market that early.

What happened was a shock (spike) which mostly happen due to uncertainty in the market.

IbrahimDamola:
My brother, I suffered hell after the last 2015 election. The euphoria caused a cosmetic but short lived increase in the stock market, I remember Garba shehu claiming that the increase the stock market was a result of booharri economic mastership even without Ministers. He claimed 'Nigerians have never had it so good'.

Then few weeks later the stock market crashed, naira crashed, banks where I deposited Dollar in my domicilliary account were unwilling to pay us back in dollars, they were asking us to take naira even at a much lesser value than what was deposited, they claimed it was CBN policy, I was told I couldn't even buy goods with dollars in my account from China and India. Later they said I was going to need an 'inflow' from outside the country to pay for goods in China and india, that the cash deposit in my account even though enough to pay for goods 'does not qualify'. There was chaos, Godwin emefiele the dunderhead at CBN was confused. It was One 'trial and error' useless policy after another.

I was incensed and remember confronting the bank manager on one occasion, I told him in clear terms, 'I gave you dollars when I deposited in my account, give me back my dollars!', 'you don't have dollars but you are giving dollars to big men and politicians for round-tripping abi'. I was ready to cause a scene in that bank. They finally gave my dollars in CASH and I took it start saving it at home till today, I've not touched that dorm account again.

See, buharii was a pain the arse economically, he needs to be booted out. Nobody with great financial intellect will support him. Nobody!

Chriswazo:
If you are asked, do you think the FX will plummet after the election? Would you advise one to convert business money to $ now?

Rextizz:
He's somehow right, btc is going down at the moment, we actually predicted it will rise to $30k/1BTC by last year December but it didn't, this has actually caused other alternate coins to decrease in value too.

But honestly, no one can predict cryptocurrency, it can rise to $10k or $20k in a day, no one knows, that's why it's advisable to buy and HOLD, not only bitcoin but other alternates crypto.
I believe some people became millionaire with this method back in 2016, if I can remember vividly.

For me am mining my coin and HOLDING till btc moon again, I've actually stored up to 1btc at the moment, and i will keep accumulating till December.

IbrahimDamola:
I pity dem no be small.

IbrahimDamola:
You are the mor0n here, if you didn't see that your booharii, apc and garuba shehu were the foools trying to reap political capital from the 'shock'.

I have more financial wisdom in one of my keratinized hair than your entire being. Be assured!

somehow:
No. Except a new CBN governor is appointed and he or she changes the current monetary policy being practised, I don't see much effect on the naira rate.

The naira is currently being controlled, not a free market system,so a change of government if ever won't affect rate instantly but can affect stocks and shares.

somehow:
Still doesn't change the fact that you lost money for being an ignorant fellow

You can keep the rest of your rant in your bag.

IbrahimDamola:
Mark zuckerberg, Bill gate, buffet, all lose billions even after taking the best seemingly financial decision. I'm more than 1000% richer than I was 7 years ago, while you are still scrapping by giving financial advise that still kept you on the same spot , that's what matters.

Chriswazo:
Thank you bro

somehow:
See brain.

Did these people lose money because they ignorantly believe "the economic policy" of a new government barely 3 days into leadership without any ministers appointed was the reason for the market shock immediately after a winner was declared?

The more you type, the more your ignorance is exposed!

Ademat7:
Arguing with you is a waste of time
Everyday in the news u here loss in the capital market,those who made loss are they ghost?

Rextizz:
He's somehow right, btc is going down at the moment, we actually predicted it will rise to $30k/1BTC by last year December but it didn't, this has actually caused other alternate coins to decrease in value too.

But honestly, no one can predict cryptocurrency, it can rise to $10k or $20k in a day, no one knows, that's why it's advisable to buy and HOLD, not only bitcoin but other alternates crypto.
I believe some people became millionaire with this method back in 2016, if I can remember vividly.

For me am mining my coin and HOLDING till btc moon again, I've actually stored up to 1btc at the moment, and i will keep accumulating till December.

IbrahimDamola:
My brother, I suffered hell after the last 2015 election. The euphoria caused a cosmetic but short lived increase in the stock market, I remember Garba shehu claiming that the increase the stock market was a result of booharri economic mastership even without Ministers. He claimed 'Nigerians have never had it so good'.

Then few weeks later the stock market crashed, naira crashed, banks where I deposited Dollar in my domicilliary account were unwilling to pay us back in dollars, they were asking us to take naira even at a much lesser value than what was deposited, they claimed it was CBN policy, I was told I couldn't even buy goods with dollars in my account from China and India. Later they said I was going to need an 'inflow' from outside the country to pay for goods in China and india, that the cash deposit in my account even though enough to pay for goods 'does not qualify'. There was chaos, Godwin emefiele the dunderhead at CBN was confused. It was One 'trial and error' useless policy after another.

I was incensed and remember confronting the bank manager on one occasion, I told him in clear terms, 'I gave you dollars when I deposited in my account, give me back my dollars!', 'you don't have dollars but you are giving dollars to big men and politicians for round-tripping abi'. I was ready to cause a scene in that bank. They finally gave my dollars in CASH and I took it start saving it at home till today, I've not touched that dorm account again.

See, buharii was a pain the arse economically, he needs to be booted out. Nobody with great financial intellect will support him. Nobody!

Yankee101:
Story story

For naija elections

1. Close out all your investments
2. Convert your cash to dollars and hold in a domicilliary account
3. Inflation may come, naira may crash, riots may happen, fvck shi*t there may be no country again!
4. Have fuel in your car
5. Get food stocked in your house to last for a week or more
6. Have spare cash in hand and some naira in your atm ready account
7. Be close to your news source every hour
8. Have credit on your phone
9. Generator prepped and ready
10. No unnecessary moving around or travels
11. Have security forces contacts on speed dial
12. Know where each family member is
13. Have your passport and credentials at ready.
14. That's the preparation you need in an unstable naija
15. After swearing in, you see the Policy roll outs and first few months then you can go back to tbills, fixed deps, stock market, business investments etc


Extra, if you are a Christian living among muslims, especially in the north, know the safest backroads to your military barracks in case of a riot. The same Buhari has orchestrated the killing of multiple christians. If you hear gun shots coming your way or shouts or 'allahu akbar' with people shrieking in terror, move away from that direction. Seek safety in numbers. Be prepared to defend your family and loved ones.

It's sad to say this but it's the reality of elections in naija.

Milllz:
There’s only 1 principle;

Change all your funds to hard currencies because if Buhari mistakenly wins again, the value of our currency will crash.

Milllz:
There’s only 1 principle;

Change all your funds to hard currencies because if Buhari mistakenly wins again, the value of our currency will crash.