Barrytone:

Born and raised in the streets of akwa ibom and presently within akwa ibom. you make 10m monthly when you have 1b naira and above lying in your TBills account and interest rate is around 10% to 13%. I need about 5m monthly to stay afloat but aiming high incase there is a miss, so far it's going as planned.

Eyen Akwa Ibom... am Akwa Ibomite too

Mfunkynation:

Eyen Akwa Ibom... am Akwa Ibomite too

Mfon, I definitely knew that. The way you take serious for this thread gave you out.

Mfunkynation:

Eyen Akwa Ibom... am Akwa Ibomite too

Mfon, I definitely knew that. The way you take serious for this thread gave you out. Dakkada things

Barrytone:


Mfon, I definitely knew that. The way you take serious for this thread gave you out. Dakkada things

We plenty here be that... reading is good, some good information I wish I'd came across earlier in life...
Not too late though.

Access bank green bond is here. Finally something to mop up some of those excess liquidity and make treasury bill juicy again

Bravedude112:
Having 1B in tbills @50/55 and going on retirement doesn't mean you will not enjoy your life after retirement,what i'm trying to say is that at this age you would have achieved so many things and family expenses i.e children school fees will not be a burden too since most of the kids would have finished their education and making some money on their own, i'm referring to someone who said he already have 27M and plan to retire when he is 30 which is in 4-5yrs later.

Show respect for 1billion Oga.

Only 2% of Nigerian bank account holders have 500k and above in their accounts!
And you are calling 1bn anyhow!

Thisnut:
i don't see t Bill as investment per say because the inflation rate is higher than the t Bill percentage. Nigeria inflation rate doubled in 3years but t Bill rates is no where close.

Bro, i know a man who was CBN regional manager, the man was a billionaire and lived below what an average millionaire would , alas when he died he had so much money that banks sponsored his funeral.

Immediately the man was buried, Chucks, his oldest son bought a new car and had an accident same month, within the space of two months he already bought a second car and was living extravagantly. I believed the money should be finished right now, judging from the way he was spending.

As for, the only thing i owe my kids is good education or good trades and international exposures, the rest they should do on their own and if they don't get serious I'd give everything away to charity. They have to earn the little I'd live for them.

If you like wait and save all your life and die without enjoying yourself, only for you to look from the underworld to see all your life savings is being squandered away by a prodigal son.

Modified

Inflation rate is not higher sir!

NBS said it's around 11 % . That's not even reliable. Again the whole concept of inflation --Fisher effect is not entirely correct!

Serendipity:


Show respect for 1billion Oga.

Only 2% of Nigerian bank account holders have 500k and above in their accounts!
And you are calling 1bn anyhow!

It doesn't mean only 2% of Nigerians have 500k.

I hardly have up to 500k in any of my bank accounts, but I have funds way more in investment accounts.

You have to analyse headlines, and pick the right things to believe.

For instance, an article read 'Stock market gains 400bn in February'

By the time you consider that the total value traded in the month was under 80bn, and that most trades are executed at 10% profit or less, you'd see that the real profit that was taken was probably below 5bn, and the remaining 395bn didn't materialize.

Nobody really likes keeping funds fallow, that explains the meagre percentage in that headline.

It's also said that less than 50% of Americans have up to $1,000 in their checking accounts. It doesn't mean they're that broke now does it?

Meanwhile, 1bn is under $3m. That's not unrealistic for a retirement target. Remember retirement means you may choose to start changing your country of residence every other year.

awesomeJ:

It doesn't mean only 2% of Nigerians have 500k.

I hardly have up to 500k in any of my bank accounts, but I have funds way more in investment accounts.

You have to analyse headlines, and pick the right things to believe.

For instance, an article read 'Stock market gains 400bn in February'

By the time you consider that the total value traded in the month was under 80bn, and that most trades are executed at 10% profit or less, you'd see that the real profit that was taken was probably below 5bn, and the remaining 395bn didn't materialize.

Nobody really likes keeping funds fallow, that explains the meagre percentage in that headline.

It's also said that less than 50% of Americans have up to $1,000 in their checking accounts. It doesn't mean they're that broke now does it?

Granted, some persons have money in investments both liquid and otherwise but then the majority have 500k no where at all. At any rate, the quiddity of the stats is to show that 1biilion is not what you see like Toyota cars!

That figure should be announced with some respect!

awesomeJ:
Meanwhile, 1bn is under $3m. That's not untealistic for a retirement target. Remember retirement means you may choose to start changing your country of residence every other year.

No need for that conversion. You ought to know better. It's elementary Econs.

Serendipity:


Granted, some persons have money in investments both liquid and otherwise but then the majority have 500k no where at all. At any rate, the quiddity of the stats is to show that 1biilion is not what you see like Toyota cars!

That figure should be announced with some respect!

Don't Accord money that much regard joo.

Ladies and gentlemen I hope the new minimum wage that have been approved will not devalue our money before maturity date

Barrytone:


Mfon, I definitely knew that. The way you take serious for this thread gave you out. Dakkada things

hahahahahabha! am i that too serious! my brother it is good to may Hay while Sun is shining

Serendipity:


Granted, some persons have money in investments both liquid and otherwise but then the majority have 500k no where at all. At any rate, the quiddity of the stats is to show that 1biilion is not what you see like Toyota cars!

That figure should be announced with some respect!

Nobody said he has that amount yet. It's only a dream. Please treat it as such but I will love to agitate us from slumber the more. ITS ACHIEVABLE. i have explained the methodology here before. Meanwhile, I run account with 5 different bank, the highest amount is 85k in one of them. Gone are the era I leave ten's of millions in account. Every kobo must bring back a seed.

Adegokenath:
Ladies and gentlemen I hope the new minimum wage that have been approved will not devalue our money before maturity date

It will. Cos VAT is about to be increased. If that is done, every other thing would also increase and they might decide to devalue naira.

Ehen..i have to call 1B nau..no be figures e be and no be person dey get am?

Serendipity:


Show respect for 1billion Oga.

Only 2% of Nigerian bank account holders have 500k and above in their accounts!
And you are calling 1bn anyhow!

OgogoroFreak:
It will. Cos VAT is about to be increased. If that is done, every other thing would also increase and they might decide to devalue naira.

pls can I liquidate my tb nvestment now and buy dollar or what do you think is the best solution in order to keep the value of my money

OgogoroFreak:
It will. Cos VAT is about to be increased. If that is done, every other thing would also increase and they might decide to devalue naira.

really price increase in naira through vat ?how does this effect exchange rate? Cos exchange rate increases from supply or scarcity of dollars let say a bottle of cooking oil imported is 3600 (10 dollars) then vat is 5 percent that 180 that 3780 (10.5 dollars ) but the 0.5 dollars increases goes the the govt in naira hence this will not futher increase the dollars demand...the company still have it 3600 to demand 10 dollars for remittance back to manufacturing country....pls economic guru come in ........i don't want to take chance like I suffer in 2015 ....

ahiboilandgas:
really price increase in naira through vat ?how does this effect exchange rate? Cos exchange rate increases from supply or scarcity of dollars let say a bottle of cooking oil imported is 3600 (10 dollars) then vat is 5 percent that 180 that 3780 (10.5 dollars ) but the 0.5 dollars increases goes the the govt in naira hence this will not futher increase the dollars demand...the company still have it 3600 to demand 10 dollars for remittance back to manufacturing country....pls economic guru come in ........i don't want to take chance like I suffer in 2015 ....

Nobody want to suffer like 2015, But as long as the reserve is above 40 , i think we still gud.

tritritri:



Nobody want to suffer like 2015, But as long as the reserve is above 40 , i think we still gud.

Inflation might increase, but I doubt exchange rate will suffer anytime soon.

As Oga tritritri has said, so far we are above 40 billion USD, we will probably be okay.

But take note of my use of the words might and probably, one thing I have learnt about finance is anything can happen.

tritritri:



Nobody want to suffer like 2015, But as long as the reserve is above 40 , i think we still gud.

We have corrupt leaders. The reserve is above 40 so they shouldn't have problems paying the ₦30,000 minimum wage but the reverse seems to be the case as they are talking about increasing VAT to be able to pay minimum wage.

I'm certain that the government would make sure that ₦30,000 is actually worth the ₦18,000 they were paying. And, I won't be surprised if they do pay themselves in dollars.

OgogoroFreak:
We have corrupt leaders. The reserve is above 40 so they shouldn't have problems paying the ₦30,000 minimum wage but the reverse seems to be the case as they are talking about increasing VAT to be able to pay minimum wage.

I'm certain that the government would make sure that ₦30,000 is actually worth the ₦18,000 they were paying. And, I won't be surprised if they do pay themselves in dollars.

Do not forget all u mentioned above r in naira, the pressure the VAT has on the reserve is what matters,

OgogoroFreak:
We have corrupt leaders. The reserve is above 40 so they shouldn't have problems paying the ₦30,000 minimum wage but the reverse seems to be the case as they are talking about increasing VAT to be able to pay minimum wage.

I'm certain that the government would make sure that ₦30,000 is actually worth the ₦18,000 they were paying. And, I won't be surprised if they do pay themselves in dollars.

That money will indirectly come from printing more naira and Tbills/bonds etc. Not from dollars in the reserves. Hence why I said inflation, though inflation could make us gradually loose value to the dollars.

OgogoroFreak:
We have corrupt leaders. The reserve is above 40 so they shouldn't have problems paying the ₦30,000 minimum wage but the reverse seems to be the case as they are talking about increasing VAT to be able to pay minimum wage.

I'm certain that the government would make sure that ₦30,000 is actually worth the ₦18,000 they were paying. And, I won't be surprised if they do pay themselves in dollars.

Big bros reserve is not meant to pay salaries , Each state pays dere salary and FG also pay from revernue and tax.

Supply and demand drives FOREX. Even wihout increasement in VAT , dollar can still increase if dere is too much pressure , hence why d cbn place a ban recently on importing of textile material just to reduce pressure on reserve

Source - fmdqotc.com

OgogoroFreak:
We have corrupt leaders. The reserve is above 40 so they shouldn't have problems paying the ₦30,000 minimum wage but the reverse seems to be the case as they are talking about increasing VAT to be able to pay minimum wage.

I'm certain that the government would make sure that ₦30,000 is actually worth the ₦18,000 they were paying. And, I won't be surprised if they do pay themselves in dollars.

When will payment of new minimum wage take effect?

I dropped a request at GTB for TBILLS last Monday which tenure was to be 364 days (primary market).

I was never debited. What do you advice please? Do I go for the secondary market this week or do I go next Monday to fill another form?

Please I would appreciate your kind responses as the money is just there in the account. I'm not working currently and it is the interest that I utilize for one or two things over the course of the year.

Breadfruit:
I dropped a request at GTB for TBILLS last Monday which tenure was to be 364 days (primary market).

I was never debited. What do you advice please? Do I go for the secondary market this week or do I go next Monday to fill another form?

Please I would appreciate your kind responses as the money is just there in the account. I'm not working currently and it is the interest that I utilize for one or two things over the course of the year.

Go for secondary market since there is no much difference between secondary and primary market rates nowadays.

Please join us in prayer. God will restore all you lost.

Grupo:


Go for secondary market since there is no much difference between secondary and primary market rates nowadays.

OK. Thank you.
I hope the process is the same? And no extra charges?

After two unsuccessful primary market Tbill transactions within the last month with GTBank, due to over-subscription and low stop rate, the voice in my head tells me to take a break and NOT trade next week(March 27)...that I should wait and observe the market rate for a little while as opposed to engaging in unsuccessful trades.

Fellas in the house, what do you think? Am I the only one feeling this way? Although I have millions sitting in my savings account, but my attempt to invest it in Tbill has been abortive as of late. What should I do? Your opinion is appreciated!