olujaidi:


They're bold when it comes to executing fraud and inflating invoices. It's not restricted to the public sector. It's a problem with several variables. Some folks see mentees as potential competitors

Still on the matter, educated people are not rich compare to these daring business guys...in fact,I have them as friends and I can say it boldly.

Whether they inflate invoices or not that is personal to them.

ibechris:



Still on the matter, educated people are not rich compare to these daring business guys...in fact,I have them as friends and I can say it boldly.

Whether they inflate invoices or not that is personal to them.

When you are talking of educated people there are educated and their are educated people.
It is not every body that will be buying and selling but I can tell you that some educated people are silently making cool money, we also have some business people that are struggling to stay afloat.

emmanuelewumi:



When you are talking of educated people there are educated and their are educated people.
It is not every body that will be buying and selling but I can tell you that some educated people are silently making cool money, we also have some business people that are struggling to stay afloat.

In Nigeria, Majority of these educated folks are earning VERY low than their standards...

Smaller units are the future, especially in Southern Nigeria. People are not having 3/4/5/6 Children again. Youths are getting married late and we have a lot of them in our population. Many men are sticking with just one wife.

X21:



this makes a lot of sense. smaller units are in higher demand and rent paid almost equal big units. thank you for sharing

dake40:


In Nigeria, Majority of these educated folks are earning VERY low than their standards...

Standard of living in Nigeria is poor, quite a number of self employed are struggling it has nothing to do with your education but by personally equipping yourself with the skills, tools, attitudes and processes that will enhance your success. Both the educated and uneducated can learn these if they want to.

Akin3891:



Same here, I live on yearly budgets. After getting my upfront on tbs, it covers everything for the year and I do reinvest the surplus back to same tbs. But now, things are not working according to plans, affecting everyone around me,cos if my budget is 70 naira for a week but ended up spending 55 naira, I give the remainder to family n friends who need help, i do this randomly, so this normally reduce the number of calls I get regularly for helps. @emmanuelewumi,ahib n others valuable contributors. Bonds seems a bit hard for me to crack for now but still will love to try, what do you think about putting huge funds into mmf, as in all my savings pending the time treasury Bill's will be better. My reason is that : i can pull out of mmf anytime to face tbs full time whenever it bounces back

tb rate shall improve ,2 trillion loan out by banks ,2 trillion to be acess from pension funds , crr increases to 27 percent , depreciation of naira and raise in inflation...

ahiboilandgas:
tb rate shall improve ,2 trillion loan out by banks ,2 trillion to be acess from pension funds , crr increases to 27 percent , depreciation of naira and raise in inflation...

I am also very optimistic that tbill rates will start getting better as from February, but CBN must do everything to avoid devaluation, I trust Buhari won't subscribe to that easily this time. Even if we want to devalue Naira, it should not be more than 5% devaluation, anything more than that will plunge Nigerians into more hardship.

The cbn govenor know this a decline in tb rate means investor to move funds to dollars to preserve value ....this causes depreciation of local currency hence increasing cost of goods imported ...the strategy of attracting dollar at via omo at 13 is not sustainable as the cbn got zero sales for 180 days in omo ....

Donbrig:


I am also very optimistic that tbill rates will start getting better as from February, but CBN must do everything to avoid devaluation, I trust Buhari won't subscribe to that easily this time. Even if we want to devalue Naira, it should not be more than 5% devaluation, anything more than that will plunge Nigerians into more hardship.

they can free float to 360 for govt approved import instead of 320 but it will spike up inflation , they u use tb to suck up excess liquidity

Attractive omo rate to attract dollars is not sustainable cos after 364 days this oyinbo move the capital and profit back to base ( converting nairas to dollars )erasing all the gains earlier ....instead we need more remittance from diaspora...any dollars sents by nigerians to build house remain in Nigeria , less import of meanless items that can be produced locally

ibechris:





Since I was born down to this very day of my existence,I have never met a rich teacher.
Surprisingly, in my 4th year in the University in one of our real estate finance classes,i interjected and boldly asked my lecturer an intelligent lady then,and i said ma, can u teach us how to make money with the application of this course.

Trouble:
She went beserk and said it boldly,I am not hear to teach u and others how to make money,if u want to make money that I should go learn a trade or do something that will give me money.

Since then, I knew no one will teach u how to be successful except u (yourself). It is not about making the money but preserving it by taking certain investible risks. Most educated people in Nigeria are afraid of taking risk,that is why u see these men in business doing well especially these Igbo guys who usually go through years of learning a particular trade and most end up doing so well. It is not about school but mentoring and being able to apply what u have been taught.

Sir, there are a number of them. You just need to be open-minded and expand your circles!

Their lot of phd holders in economic in cbn and they know their must be a consequence for abusing economic principle ....negative returns ....high inflation, high interest rates ....growing inflation and decline interest rate is unkown by any principle some thing must give way .....currency depreciation

The loses people incur from converting naira to USD kind of discourages people. Even on this thread,some guys alluded to it on the stanbic USD fund.

ahiboilandgas:
Attractive omo rate to attract dollars is not sustainable cos after 364 days this oyinbo move the capital and profit back to base ( converting nairas to dollars )erasing all the gains earlier ....instead we need more remittance from diaspora...any dollars sents by nigerians to build house remain in Nigeria , less import of meanless items that can be produced locally

seyisanya:
Sir, there are a number of them. You just need to be open-minded and expand your circles!

a teacher (1990)later open his school (rented apartment ) now own a big school with 800 kids paying 200k per term .....he even own a family home in london and only stay in Najia for hustlings

ibechris:



Still on the matter, educated people are not rich compare to these daring business guys...in fact,I have them as friends and I can say it boldly.

Whether they inflate invoices or not that is personal to them.

Sir, don't generalize like that oo. There are some wealthy lectures in this country. My former project supervisor who is a professor is one of them. I wouldn't know if i didn't relate well with him before he started opening up to me on his life after school and why I should take investing very serious. This was a man that has been investing in Nestle shares when it was selling for below 100 naira. I can with all sincerity tell you that prof is worth hundreds of million of naira. A very simple man that still drives his old Mercedes-Benz.

Most lectures are very passionate about teaching that material wealth don't really freak them, but if they tell you the investments they have you wouldn't believe them because they live very simple.

Although I agree with you that there are more wealthy self-employed/business men compared to the working class or employee. But saying there are never any wealthy employees/teachers in this country is what I will disagree.

Akin3891:



Same here, I live on yearly budgets. After getting my upfront on tbs, it covers everything for the year and I do reinvest the surplus back to same tbs. But now, things are not working according to plans, affecting everyone around me,cos if my budget is 70 naira for a week but ended up spending 55 naira, I give the remainder to family n friends who need help, i do this randomly, so this normally reduce the number of calls I get regularly for helps. @emmanuelewumi,ahib n others valuable contributors. Bonds seems a bit hard for me to crack for now but still will love to try, what do you think about putting huge funds into mmf, as in all my savings pending the time treasury Bill's will be better. My reason is that : i can pull out of mmf anytime to face tbs full time whenever it bounces back

Half of my yearly income comes in then month if Jan. Like someone earlier hinted, all the alternative investment options mentioned so far on this forum ain't worth the stress. I've dumped my earnings in mmf. Capital preservation guaranteed. My major tb matures in Sept. And if by then tb still haven't pick up, I'll still move them to mmf.
Sometimes in Dec. I wanted to diversify in dollars ($) savings and investment, one of my colleague I approached to sign my form narrated a rather bizarre experience. He told me he opened a domiciliary account and deposited $500 and after two yrs, he decided to check the bal, lo and behold the money has reduced to $350 in the name of act mtc and commission. ( he quickly withdrrew the bal. to be kept at home. He signed the form though but advised me against keeping my fund in Dom acct.
Those that operate $ bond should please advice me or share their experience.

DigitalMallam:

Half of my yearly income comes in then month if Jan. Like someone earlier hinted, all the alternative investment options mentioned so far on this forum ain't worth the stress. I've dumped my earnings in mmf. Capital preservation guaranteed. My major tb matures in Sept. And if by then tb still haven't pick up, I'll still move them to mmf.
Sometimes in Dec. I wanted to diversify in dollars ($) savings and investment, one of my colleague I approached to sign my form narrated a rather bizarre experience. He told me he opened a domiciliary account and deposited $500 and after two yrs, he decided to check the bal, lo and behold the money has reduced to $350 in the name of act mtc and commission. ( he quickly withdrrew the bal. to be kept at home. He signed the form though but advised me against keeping my fund in Dom acct.
Those that operate $ bond should please advice me or share their experience.

Since you did not mention the name of the bank, I am sure it is not Zenith Bank Plc. I once left over 20k$ for 2 years plus in my domiciliary account in Zenith Bank and nothing happened to it; 1 cent was not deducted. Except if they charged either my current or saving account to maintain the domiciliary account because when I printed my domiciliary statement of account, they charged my savings account. I was only charged when I transferred and withdrew.

Donbrig:


I am also very optimistic that tbill rates will start getting better as from February, but CBN must do everything to avoid devaluation, I trust Buhari won't subscribe to that easily this time. Even if we want to devalue Naira, it should not be more than 5% devaluation, anything more than that will plunge Nigerians into more hardship.

It will be nice to see tb rise again, but if you look carefully. Nigeria is not in this alone, all across Europe negative yield tb/bond is the order of the day. So this made me less optimistic.
Aside this, grapevine has it that FG is having troubles serving our loans, so part of the advice given by prof. Soludo team is what is being played out. To borrow at ridiculously low rate to service these loans. Plus the ever increasing (idle) pension funds chasing fg tb and bonds.
Do you know that Union bank commercial paper at 5% was instantly bought 100% by the PFA.
These are no good signs at all.

IamR:

Since you did not mention the name of the bank, I am sure it is not Zenith Bank Plc. I once left over 20k$ for 2 years plus in my domiciliary account in Zenith Bank and nothing happened to it; 1 cent was not deducted. Except if they charged either my current or saving account to maintain the domiciliary account because when I printed my domiciliary statement of account, they charged my savings account. I was only charged when I transferred and withdrew.

Many thanks.
This sound encouraging. Of course not Zenith.
Kindly share the rate or % charge for transfer & withdrawal.

DigitalMallam:

Many thanks.
This sound encouraging. Of course not Zenith.
Kindly share the rate or % charge for transfer & withdrawal.

I was charged 135$ for transferring 13k$, and 3.5$ for withdrawing 7k$. Banks have different charges for cash deposit or inflow into your domiciliary account when you want to withdraw or transfer.

Donbrig:
I think there has never been a time in our history with Nigerians having so much money in hand and don't even know how to invest or what to do with it.

actually, this is the current state we are in presently, unfortunately the government needs these monies to fund the 2020 budget, mind you 2019 budget was not implemented completely due to shortage of funds, hence the plan to borrow

IamR:

I was charged 135$ for transferring 13k$, and 3.5$ for withdrawing 7k$. Banks have different charges for cash deposit or inflow into your domiciliary account when you want to withdraw or transfer.

When subscribing for eurobond, will these charges be applicable? Transfer charges seem quite too high....can it be bypassed?

emmanuelewumi:



Most of them will invest in Ponzi scheme, High Yield Investment Programs, businesses that will flop. Some will take their severance package to their pastors and imams to pray over the fund. They will pay tithe, first fruits, sacrifial offering, [b]embarrassing offering, [/b]sew different types of seeds, breakthrough offering, exponential growth offering etc.

The best bet is for every worker to Invest on a regular basis while working, do this during your working life. When you do this, whenever you are paid your severance package you already know where you will invest the money and you won't fall for the antics of scammers, spiritualists and smooth talking businessmen.

Hahahahaha

Oga Emmanuelwumi no kill me with laugh

Real EMBARRASSING OFFERING

ibechris:





Since I was born down to this very day of my existence,I have never met a rich teacher.
Surprisingly, in my 4th year in the University in one of our real estate finance classes,i interjected and boldly asked my lecturer an intelligent lady then,and i said ma, can u teach us how to make money with the application of this course.

Trouble:
She went beserk and said it boldly,I am not hear to teach u and others how to make money,if u want to make money that I should go learn a trade or do something that will give me money.

Since then, I knew no one will teach u how to be successful except u (yourself). It is not about making the money but preserving it by taking certain investible risks. Most educated people in Nigeria are afraid of taking risk,that is why u see these men in business doing well especially these Igbo guys who usually go through years of learning a particular trade and most end up doing so well. It is not about school but mentoring and being able to apply what u have been taught.

Hahahahaha

Make una no kill me with laugh

Akin3891:



Same here, I live on yearly budgets. After getting my upfront on tbs, it covers everything for the year and I do reinvest the surplus back to same tbs. But now, things are not working according to plans, affecting everyone around me,cos if my budget is 70 naira for a week but ended up spending 55 naira, I give the remainder to family n friends who need help, i do this randomly, so this normally reduce the number of calls I get regularly for helps. @emmanuelewumi,ahib n others valuable contributors. Bonds seems a bit hard for me to crack for now but still will love to try, what do you think about putting huge funds into mmf, as in all my savings pending the time treasury Bill's will be better. My reason is that : i can pull out of mmf anytime to face tbs full time whenever it bounces back

But Sir, try read this funny book...WHO MOVED MY CHEESE?

Very interesting. ...I read it in my SSI student day when one old man gave it to me as a gift. It has helped me in making decisions in time like this. ...
The book is all about CHANGE....

DigitalMallam:


It will be nice to see tb rise again, but if you look carefully. Nigeria is not in this alone, all across Europe negative yield tb/bond is the order of the day. So this made me less optimistic.
Aside this, grapevine has it that FG is having troubles serving our loans, so part of the advice given by prof. Soludo team is what is being played out. To borrow at ridiculously low rate to service these loans. Plus the ever increasing (idle) pension funds chasing fg tb and bonds.
Do you know that Union bank commercial paper at 5% was instantly bought 100% by the PFA.
These are no good signs at all.

Very Apt.

That is what is really playing now.

So much liquidity in the system. ...FGN is borrowing at a very low rate now to service the high rates they alrady borrowed. Also the FGN is selling crude at high price of over $60 per barrel

This low NTB rates may continue till close to 2023 election except crude oil prices crashes below 30 dollars per barrel.

Also the yield on FGB bonds is fast depreciating, making investors to look for any available low risk portfolios. The PFAs are chasing with their idle trillions of naira to any available low risk investment we little investors may consider as better yield.

Stock market may be alternative, but when newbies may entere into stock market; not knowing how to dine with men in blacks, may get their capital funds burnt out

So is really a hard time, but in all of these things, we shall overcome.

It's a good time to think outside the box. ..

The problem many people have with thinking outside the box in this context is the amount of sharks and crocodile ready to separate you from your money, which is why you see a lot of people focus more on capital preservation than even the interest. For many people, the interest is just an add-on, they are more interested in the fact that at the end of the tenor when they need their money, they know when to find it.
Outside that particular box, the uncertainties are too many to mention.

ukay2:


Very Apt.

That is what is really playing now.

So much liquidity in the system. ...FGN is borrowing at a very low rate now to service the high rates they alrady borrowed. Also the FGN is selling crude at high price of over $60 per barrel

This low NTB rates may continue till close to 2023 election except crude oil prices crashes below 30 dollars per barrel.

Also the yield on FGB bonds is fast depreciating, making investors to look for any available low risk portfolios. The PFAs are chasing with their idle trillions of naira to any available low risk investment we little investors may consider as better yield.

Stock market may be alternative, but when newbies may entere into stock market; not knowing how to dine with men in blacks, may get their capital funds burnt out

So is really a hard time, but in all of these things, we shall overcome.

It's a good time to think outside the box. ..

ojesymsym:
The problem many people have with thinking outside the box in this context is the amount of sharks and crocodile ready to separate you from your money, which is why you see a lot of people focus more on capital preservation than even the interest. For many people, the interest is just an add-on, they are more interested in the fact that at the end of the tenor when they need their money, they know when to find it.
Outside that particular box, the uncertainties are too many to mention.

Yes Sir. ...just like me...na real estate , NTB, mmf, stocks and bonds. ..any other investments i know sabi ooo

Am more into stock market and bonds now..

Each time I enter that una stock signal thread, una argument non de let person know which one to pitch tent with.
Digital economy is the fastest way to get ahead of the game in this 21st century, in a way it is similar to stock I reckon.

ukay2:


Yes Sir. ...just like me...na real estate , NTB, mmf, stocks and bonds. ..any other investments i know sabi ooo

Am more into stock market and bonds now..

ojesymsym:
Each time I enter that una stock signal thread, una argument non de let person know which one to pitch tent with.
Digital economy is the fastest way to get ahead of the game in this 21st century, in a way it is similar to stock I reckon.

No mind dem ogas for the NSEMPA. ...most are catching fun there.

But most people there will answer your questions if one ask...despite the funs they are catching. ...the thing is that the sweetness of stocksmarket discussion is in the catching funs of how the various stocks are 'behaving' in terms of their currentprice, poor or good financial results , expectations of dividend payments, future prices etc

Just try and be listening and getting use to the terms there, with time, you too will master the stock market easily. ..

ojesymsym:
Each time I enter that una stock signal thread, una argument non de let person know which one to pitch tent with.
Digital economy is the fastest way to get ahead of the game in this 21st century, in a way it is similar to stock I reckon.

What do you mean by digital economy in this context?

I try to follow daily. I am not totally green though, but una level too high and 5k plus pages is too much to spend ones lifetime trying to catch up with.

ukay2:


No mind dem ogas for the NSEMPA. ...most are catching fun there.

But most people there will answer your questions if one ask...despite the funs they are catching. ...the thing is that the sweetness of stocksmarket discussion is in the catching funs of how the various stocks are 'behaving' in terms of their currentprice, poor or good financial results , expectations of dividend payments, future prices etc

Just try and be listening and getting use to the terms there, with time, you too will master the stock market easily. ..