amjustme2:
I remember you asking for few like minded people to raise 35M for BDC business here on this thread few years ago.

Its interesting to know you took the bold step all alone later.

I like your mindset and risk taking appetite!

A lot to learn.

Sholapey:
.Contents
1.0 INTRODUCTION............................................................................................................2
2.0 APPLICATION FOR LICENCE......................................................................................2
3.0 REQUIREMENTS FOR THE GRANT OF FINAL LICENCE.........................................4
4.0 FINANCIAL REQUIREMENTS .....................................................................................5
5.0 BOARD/MANAGEMENT REQUIREMENTS................................................................6
6.0 DISQUALIFICATION AND EXCLUSION OF CERTAIN INDIVIDUALS FROM THE
MANAGEMENT OF BUREAUX DE CHANGE IN NIGERIA.......................................6
7.0 OPERATIONS OF BUREAUX DE CHANGE ................................................................7
8.0 NON-PERMISSIBLE ACTIVITIES.................................................................................8
9.0 SUPERVISION AND MONITORING OF BUREAUX DE CHANGE ............................9
10.0 ESTABLISHMENT, CLOSURE AND RELOCATION...................................................9
11.0 INTERNAL CONTROL/COMPLIANCE UNITS ............................................................9
12.0 ANTI MONEY LAUNDERING ACTIVITIES ..............................................................10
13.0 APPROVAL OF AUDITED ACCOUNTS.....................................................................10
14.0 PRESERVATION OF RECORDS .................................................................................10
15.0 REVOCATION OF LICENCE.......................................................................................10
16.0 CHANGE IN OWNERSHIP STRUCTURE...................................................................11
17.0 RENEWAL OF LICENCE.............................................................................................12
18.0 COMPLIANCE WITH LAWS, RULES AND REGULATIONS....................................12
19.0 OFFENCES AND PENALTIES.....................................................................................12
20.0 AMENDMENT..............................................................................................................12
21.0 COMMENCEMENT......................................................................................................12
Table 1: PENALTIES FOR INFRACTIONS BY BUREAUX DE CHANGE (BDCs)...............13

How do I go about all these requirements @ahiboilandgas

Sholapey:
How do I go about the whole thing? Can you recommend a place I can go for intern before i venture into it pls.?

ahiboilandgas:
what ur mail I will send u don't like giving out mine.

ahiboilandgas:
what ur mail I will send u don't like giving out mine.

saipn:
When is the next primary market bidding for ntb?

tritritri:


@ahiboilandgas
Kindly Let me knw if you can sale for me at 358 whenever demand is less .

chigo4u:

What is this bureau the change bidding? How is it done

ahiboilandgas:
u need a bdc lincense from the cbn ,u register a company with share capital of 35m then u deposits 35m with the cbn until lincense is out cbn will pay interest on the 35 m and return it back after lincense then you start weekly bidding via your bank ,like we do u tb ....u wires 7.2m in the company account cbn debit and credit u with 20000 k dollars u sell to black marketer u profit is around 50 k naira bidding is done 3 time now 75000 dollars weekly .u can make around 225 k naira if u hold on a little after bid ....good luck in your plan to hammer .....but be careful some guy might think u be yahoo cos u will just be chilling

eddyakinrinde:


@Barrytone my man, its bn long I saw ur post last, hope u re cool. Hope u didn't relaxed on ur target sha. I tot u were focussed on 10m monthly b4. All the best my guy. God help us.

temi4fash:
Many thansk for the information i have gotten from this place.

Its been a life saver for me.

For young people who have able to save up to 500k, How do we make maximum returns from it.

We have not gotten to this the Million level, We would get there with time, But can anyone help with info that would help us get max ROI.

Thanks in advance

ahiboilandgas:
Imagine two investors ahib oil and gas vs gt bank investing in govt security...ahib oil and gas earn his investing funds by providing logistic service to MRS oil plc in generating this funds he couple a truck ,employ driver ,service the truck ,buy parts ,pay insurance ,employ motor boy ,pay tax ,buy tyre all my moves generate jobs and bussiness for other reducing poverty and taking risk while gt bank sit in it office and people dump billions in saving account at 0-4percent and his money is just dump in tb at 14 .5 ...with zero risk and small stress this is the most unproductive money making scheme that lead to high unemployment

TotoNaRubber:
Let us all pray for a better Nigeria. The country is only meant to be visited/holiday/party and not to live in. Nigerian investors with capital base of at least N500 million in assets and funds are the only class i feel can afford to live comfortably and constantly grow.

Nigeria is a death trap, scam everywhere. Health sector terrible. Nothing works.
I have witnessed so many Nigerians who had capital base of nearly N400 million sink to nothing. Economic and health problems are the major setbacks that reduced them to nothing.

Moral of the story: A country where social/basic amenities work is better than earning N50 million per month in Nigeria.

ahiboilandgas:
what ur mail I will send u don't like giving out mine.

phunix:
Good day great fellas!
Could someone please calculate this for me:
1.2m at 9.5% for 91 days tenor. Discount rollover (added to the 1.2m) for reinvestment as principal.
Thanks guys.

Barrytone:


only way to max out profit is by compounding; reinvesting profits of more than 100k. if the source of the 500k is recurring then you can draw a plan stick to it. There is nothing new under the sun so it will definitely replay or you recreate it when you arrive but I doubt if you will want it then.

temi4fash:


The source of the 500k is savings.

Can you please explain better?

Thanks for your input though. I appreciate

ahiboilandgas:
There 4 have to learn other bussiness that can mint naira faster that tb 12 percent like 40 percent then my porfolio will be (tb,bdc,dorm,trucks rent salary) hmm if total upstream give me job or political appointment

RealityShot:
N28, 400 interest cannot be rolled over automatically

Barrytone:


please sir, what do u want me to explain further?
whatever generated the savings, is it a regular occurrence, if so, set a limit and save a compulsory amount to grow your capital. When I was in the streets, I made it compulsory to save 50% of my income and groove 20%, 30% for AOB. that 50% built me a house in few years after a failed electoral ambition. Till date I appreciate that building than any other one I have owned because it came from real street sweat. imagine I knew about tbills back then in 2006, I would be retiring now.

Sapeleboy911:

Like seriously, a great formulae to acquire wealth you've given up there. I've been on my current job for 5 years now. If I have saved 50 percent of my salary even without investing it anywhere it would be around 6-7 million naira by now. That is without investing it oh. Imagine if I invested it for just 10 percent interest rate annually?
Worst of all I don't even have even 100k in my account now. Can you imagine the irony? Lots of informative and wealth creating ideas being shared here for free. @ feelamong thanks for creating such a wonderful thread it has been an inspirational and, an eye opening thread so far.

Sapeleboy911:
My broda ask me again. On a serious note I I made some very bad investments. I invested almost a million naira in plantain farming and I left it in the care of a total novice, same with catfish farming. I learnt my lesson the hard way.

Sapeleboy911:
My broda ask me again. On a serious note I I made some very bad investments. I invested almost a million naira in plantain farming and I left it in the care of a total novice, same with catfish farming. I learnt my lesson the hard way.