Nnamz:

Did they get paid for their land or they lost their land just like that with no compensation? Ayam confused.

Yes, without a penny as compensation. It's part of the terms of Grant that you develop within a specific period. Ambode did the same thing at Lekki Scheme 2. Land prices at Lekki Scheme 2 fell at that time cos because there was a glut caused by many sellers looking to offload.

A lot of people have Certificates of Occupancy and don't bother to read the fine print from pages 2 to 5. That's where the government 'hides' the important info.

No

MrMcJay:


Yes, without a penny as compensation. It's part of the terms of Grant that you develop within a specific period. Ambode did the same thing at Lekki Scheme 2. Land prices at Lekki Scheme 2 fell at that time cos because there was a glut caused by many sellers looking to offload.

A lot of people have Certificates of Occupancy and don't bother to read the fine print from pages 2 to 5. That's where the government 'hides' the important info.

And to discourage speculation, when you buy a land for 10 years you should have made money from capital appreciation. But some of the Investors want to leave the land for their grand children

emmanuelewumi:
No


And to discourage speculation, when you buy a land for 10 years you should have made money from capital appreciation. But some of the Investors want to leave the land for their grand children

it written in term and conditions of granting the c of o....mine is 2 years max to develop and a minimum of 8m naira house in years 2004

emmanuelewumi:
No

And to discourage speculation, when you buy a land for 10 years you should have made money from capital appreciation. But some of the Investors want to leave the land for their grand children

Actually, there is a difference between compulsory acquisition of land and revocation of Certificate of Occupancy.

If Government acquires your land (usually for overriding public interest), you are entitled to compensation. If Government revokes your C of O, you won't be given a penny because you are in breach of the terms of the grant.

pluto09:


I don't advise people to buy at any price o.
Those who understand the game bought at 360 and sold from 430. They are waiting for another opportunity to get in.

Why would you advise someone not to buy?

I've been thinking of converting recent savings to dollars.

Raalsalghul:


Why would you advise someone not to buy?

I've been thinking of converting recent savings to dollars.

One can always buy but at reasonable price.

pluto09:


https://businessday.ng/exclusives/article/for-nigeria-momentum-builds-towards-market-reflective-fx-rate/

Your write up is saying naira will weaken and the CBN has just reversed its intervention policies,except of course for large fluctuations.
So then it's possible 380 will become the official exchange rate,and 450 is a really big deviation from 380,which makes it intervenable come monday.
Wheew!well,monday will tell...

Theconglomerate:
Your write up is saying naira will weaken and the CBN has just reversed its intervention policies,except...

You sabi talk with 2 sides of the mouth sha, few days ago you were the one blaming those who invested in Fixed income instruments here. You spoke gleefully about the drastic crash of the naira without offering any reasonable suggestion to investors. Now you are the one telling people not to bother about buying dollars again. Which is which?You are confused.

Theconglomerate:
Money can either appreciate or depreciate,especially in Nigeria that don't have a true value for their currency.
You can buy dollar today at 450 and keep then CBN come with their interventions and push it to 383 on wednesday morning
You go dey cry like pussycat throughout that week.
And the funny thing be say everyone will be offloading at the same time so much so that you will have to sell lower than new market price sef to see your naira back.
All abokis go dey tell you say "I no want am"
Hoarding fx and foreign debt has killed more people in Nigeria than AIDS

This man get mouth no be small. "You go dey cry like pussycat throughout that week." This got me LMAO as I kept imagining how a cat cries. He however has some points. Truth it the way our govts do things most times defies logic. On a good day there's no reason why a dollar should sell for N380 now given the present economic realities but CBN can come with their wonders.

Unless u r a kid, u should know when to buy dollar and when not to buy. The present rate at 450 isn't the real value to a dollar. Even judging from how we do things in Nigeria. 450 is a temporary spike, (occasioned by covid) cos the cbn could get to defend as usual, so pls wait for the inevitable pullback before u buy if u want to.

Then my dear anyone telling u its wrong or bad to hoard dollar is a novice. If I had the opportunity I will change every penny I have to dollar. Even a blind man knows...…

Look naija look America, which of these countries would u bet on?

The very TRUE value of the dollar if the cbn floats it would be around #700 to a$. Argue with the ancestors.

contumely2:
.
Will dollar price increase or decrease in the next 1-3 months?



Akin3891



cc

ahiboilandgas
emmanuelewumi
emmanuelewummi.


totonarubber

zamirikpo

atkin

My brother ive been thinking of the right answer for days now. I for see a temporary pullback if the CBN injects forex into the market starting tomorrow, but it will be temporal depending on how long they can hold out.

But u see this cbn style is artificial.....it cannot last. One day one day.....economics will take over.

So for the next 3months if I get $ less than 400, I go rush am.....buy and hold. To preserve idle funds. Where and how is another matter.

This news the mod pushed on frontpage true or fake
https://www.nairaland.com/5831835/access-bank-shut-down-346

zamirikpo:


My brother ive been thinking of the right answer for days now. I for see a temporary pullback if the CBN injects forex into the market starting tomorrow, but it will be temporal depending on how long they can hold out.

But u see this cbn style is artificial.....it cannot last. One day one day.....economics will take over.

So for the next 3months if I get $ less than 400, I go rush am.....buy and hold. To preserve idle funds. Where and how is another matter.

i don leave Naira since last year it has disappointment me 3 times from 2010 till now ...am not luggard...i be global citizen no wonder vp money na for pound all dey ...


.

ahiboilandgas:
i don leave Naira since last year it has disappointment me 3 times from 2010 till now ...am not luggard...i be global citizen no wonder vp money na for pound all dey ...


.

Naso o

I often visit this forum to read, learn, and follow you all advise here, seeing post of everyone here Business minded encourages me to be more hardworking so I can also follow your footprints to success like you all has been displaying here over the years.


Having read and followed this thread relently, I had to re-think to try my luck here being that i know i am a good investment that would appreciate by God's mercy.


I had a previous thread about migrating but no help.

I am a very hardworking human also with skills in sewing/tailoring ,I am a graduate of Pharmacology i currently work in a hospital Pharmacy I have been working here for over 3years. I tried migrating 3 years ago but couldn't there was no help as well I had to keep striving after 3years my siblings I helped all are graduates today thanks to God almighty but with my salary still at 60k without increment.


It has always been my desire to leave this country but I have no one to help ease the burden monetary, I recently got an admission to study in Australia for 2years graduate entry Nursing program Sept/Oct 2020 studies program which by june 2020 i should should be applying for Visa for the course .

I am here to solicit to be an investment that would appreciate i promise i will start paying back money you invested in 6months after Arrival in Australia. I am Soliciting for 3mil for initial deposit directly to the school account before Coe for the visa can be issued every other expenses i would handle it with the little i have saved.

The 3million for part tuition is the main goal before I can apply for visa, sourcing money for other things won't be an issue when I move there I have gotten 2 Pharmacy assistant jobs with good jobs over there twice that could secure me PR, I couldn't because I told them I wasn't residing in Australia.Again I have handwork skills that could fetch me some money while there.



Please go through my previous thread....Am a determined lady I need to start my life afresh. Nigeria can't save my destiny the fact that I don't even have money to start up, I just want to leave here help make my dreams come true not just paying you back your money, will have to thank you and bless you all my life.


I have dreams and goals in healthcare business and technology don't let it die off

Good morning bosses and business mentors here @ahiboilandgas, @emmanuelewumi @sholapey, @zamirikpo
@Nnamz @Diyke4rich, @Alaska90 @Tvegas, @naijaoyibo and other bosses here I couldn't mention..

Theconglomerate:
Your write up is saying naira will weaken and the CBN has just reversed its intervention policies,except of course for large fluctuations.
So then it's possible 380 will become the official exchange rate,and 450 is a really big deviation from 380,which makes it intervenable come monday.
Wheew!well,monday will tell...

There is a difference between the official rate and the parallel market rate.
What CBN will control is the official rate. Most of us don't buy or sell dollars at the official rate. If the official rate is managed well by CBN, there will be a small difference between the two rates otherwise you have a wide gap like the one we experience last week.

zamirikpo:
Unless u r a kid, u should know when to buy dollar and when not to buy. The present rate at 450 isn't the real value to a dollar. Even judging from how we do things in Nigeria. 450 is a temporary spike, (occasioned by covid) cos the cbn could get to defend as usual, so pls wait for the inevitable pullback before u buy if u want to.

Then my dear anyone telling u its wrong or bad to hoard dollar is a novice. If I had the opportunity I will change every penny I have to dollar. Even a blind man knows...…

Look naija look America, which of these countries would u bet on?

The very TRUE value of the dollar if the cbn floats it would be around #700 to a$. Argue with the ancestors.

WRONG. I've been around the world, and I know what I can buy with 10 dollars in the US. I also know what I can buy with 7,000 naira in Lagos. Just like I know a bottle of water (value) cost at least 1Euro in France and less than 0.3Euro in naija.

Most of these things don't add up. It is actually not meant too for the average African. The average African doesnt concern himself with "the game of thrones".

These exchange rate gives the powers that be the opportunity to buy our resources cheaper. Ideally it should not affect value locally. But since the powers that be have agreed to ensure that things of value to Africans are not available locally and our leaders have accepted, we will continue to have a false understanding of exchange rate.

Think, how does exchange rate affect the price of Garri in Ijebu, the cost of portable water. The price of rice in Kebbi, etc. If we had enough refineries, the impact of exchange rate will not reach even fuel.

Ask yourself, why was the US pissed, when China by themselves devalued their currency. These same western countries are always happy when Africans devalue theirs. This is because if what you sell, cost more more than what t you buy as a country, devaluing your currency will make your citizens richer. That was why when US raised the tariffs on Chinese goods, China in return devalued their currency (this angered US), meaning China will earn more money for everything they sell internationally. This is because the value of the Yuan remained the same locally. And now, they will get more Yaun for every dollar earned.

juniorrate:
This news the mod pushed on frontpage true or fake
https://www.nairaland.com/5831835/access-bank-shut-down-346

True.


I want to believe they will open some of the branches when things return to normal.

They have 2 branches at Ajao Estate, Airport road and Osolo way. Both branches are shut down.


Access bank needs to control their personnel expenses.

Personnel expenses for 2019 was N76 billion and profit after tax of N90 billion

GTB personnel expenses was N37 billion and profit after tax of N185 billion

Access bank generated a gross earnings of N530 billion but could convert N90 billion to profit after tax

GTB generated a gross earnings of N440 billion in 2019 but converted N185 billion to profit after tax.


As an investor which of the 2 banks is more efficient?

emmanuelewumi:



True.


I want to believe they will open some of the branches when things return to normal.

They have 2 branches at Ajao Estate, Airport road and Osolo way. Both branches are shut down.


Access bank needs to control their personnel expenses.

Personnel expenses for 2019 was N76 billion and profit after tax of N90 billion

GTB personnel expenses was N37 billion and profit after tax of N185 billion

Access bank generated a gross earnings of N530 billion but could convert N90 billion to profit after tax

GTB generated a gross earnings of N440 billion in 2019 but converted N185 billion to profit after tax.


As an investor which of the 2 banks is more efficient?

GTB for the bolded but PA Emma, how many branches would still be open if they close down this number of branches. its seen thing are not really well for Access Bank and they re using covid as excuse to sack more workers and its like the end of Access Bank is very near bcz the rate at which people will move out their money to other Bank no be here. after breakfast, i will
have to move my small 1mill+ there to GTB

juniorrate:


GTB for the bolded but PA Emma, how many branches would still be open if they close down this number of branches. its seen thing are not really well for Access Bank and they re using covid as excuse to sack more workers and its like the end of Access Bank is very near bcz the rate at which people will move out their money to other Bank no be here. after breakfast, i will
have to move my small 1mill+ there to GTB

They are the biggest bank in terms of number of branches.

According to 2018 annual report, that was before the merger with Diamond Bank

Access had 322 branches, 284 off site ATM locations and 5758 agents for their agency banking

Could not attend 2020 AGM due to Covid 19, where I would have gotten the 2019 annual report

Access Bank can save up to N70 billion from this exercise which is good for the Investors.

The bank will spend an average of N200 million per annum on each branch for salaries, security, rent, IT, stationery, generator, diesel, property maintenance, land use charge etc. Now multiply this by 340 branches.

helpyom:


I often visit this forum to read, learn, and follow you all advise here, seeing post of everyone here Business minded encourages me to be more hardworking so I can also follow your footprints to success like you all has been displaying here over the years.


Having read and followed this thread relently, I had to re-think to try my luck here being that i know i am a good investment that would appreciate by God's mercy.


I had a previous thread about migrating but no help.

I am a very hardworking human also with skills in sewing/tailoring ,I am a graduate of Pharmacology i currently work in a hospital Pharmacy I have been working here for over 3years. I tried migrating 3 years ago but couldn't there was no help as well I had to keep striving after 3years my siblings I helped all are graduates today thanks to God almighty but with my salary still at 60k without increment.


It has always been my desire to leave this country but I have no one to help ease the burden monetary, I recently got an admission to study in Australia for 2years graduate entry Nursing program Sept/Oct 2020 studies program which by june 2020 i should should be applying for Visa for the course .

I am here to solicit to be an investment that would appreciate i promise i will start paying back money you invested in 6months after Arrival in Australia. I am Soliciting for 3mil for initial deposit directly to the school account before Coe for the visa can be issued every other expenses i would handle it with the little i have saved.

The 3million for part tuition is the main goal before I can apply for visa, sourcing money for other things won't be an issue when I move there I have gotten 2 Pharmacy assistant jobs with good jobs over there twice that could secure me PR, I couldn't because I told them I wasn't residing in Australia.Again I have handwork skills that could fetch me some money while there.



Please go through my previous thread....Am a determined lady I need to start my life afresh. Nigeria can't save my destiny the fact that I don't even have money to start up, I just want to leave here help make my dreams come true not just paying you back your money, will have to thank you and bless you all my life.


I have dreams and goals in healthcare business and technology don't let it die off

Good morning bosses and business mentors here @ahiboilandgas, @emmanuelewumi @sholapey, @zamirikpo
@Nnamz @Diyke4rich, @Alaska90 @Tvegas, @naijaoyibo and other bosses here I couldn't mention..

how is an investment? Your best strategy is to look for scholarships ( Australia is very expensive more thank uk or canada ) is not a place to manage .2 they have express entry like canada ...which will cost u less than 500k ...check their are threads 4 their a guy that run a loan scheme here (look for him) ..5 fcmb (has foreign education loan).......

Wiseoldman:


WRONG. I've been around the world, and I know what I can buy with 10 dollars in the US. I also know what I can buy with 7,000 naira in Lagos. Just like I know a bottle of water (value) cost at least 1Euro in France and less than 0.3Euro in naija.

Most of these things don't add up. It is actually not meant too for the average African. The average African doesnt concern himself with "the game of thrones".

These exchange rate gives the powers that be the opportunity to buy our resources cheaper. Ideally it should not affect value locally. But since the powers that be have agreed to ensure that things of value to Africans are not available locally and our leaders have accepted, we will continue to have a false understanding of exchange rate.

Think, how does exchange rate affect the price of Garri in Ijebu, the cost of portable water. The price of rice in Kebbi, etc. If we had enough refineries, the impact of exchange rate will not reach even fuel.

Ask yourself, why was the US pissed, when China by themselves devalued their currency. These same western countries are always happy when Africans devalue theirs. This is because if what you sell, cost more more than what t you buy as a country, devaluing your currency will make your citizens richer. That was why when US raised the tariffs on Chinese goods, China in return devalued their currency (this angered US), meaning China will earn more money for everything they sell internationally. This is because the value of the Yuan remained the same locally. And now, they will get more Yaun for every dollar earned.

From the small economics I did, when demand is higher than supply, price will go up.

We import almost every thing, cbn had to barn 42 item and am sure we still have over 100 more item we import, reason becos we don't have industries, why? Cost of production is high, why? The primary resource for any production (Nepa), is absent, why?, CORRUPTION0.

As long as we keep running to the west for most of our needs, the dollar will keep climbing.

U said they want to keep our currency week so they can get our resources cheap, I disagree, our most priced assert is sold at an international rate, same price with Russia, Saudi etc.

Na we hold ourselves, over the years we haven't been able to build capacity to produce anything, whether for local consumption or export, how would the naira gain.

About the bottle of water which type, cos I know in naija all bottle water is the same and na God dey save us, but in the west u could get spring water, ionized water etc....

ahiboilandgas:
how is an investment? Your best strategy is to look for scholarships ( Australia is very expensive more thank uk or canada ) is not a place to manage .2 they have express entry like canada ...which will cost u less than 500k ...check their are threads 4 their a guy that run a loan scheme here (look for him) ..5 fcmb (has foreign education loan).......

My oga, I need advice on this emigration issue, especially for my family.

Is it advisable, kids 4 and a year old.

Young wife 25yr. I fear the separation is risky for husband/wife and the cultural influence on the kids.

Then which country

zamirikpo:


My oga, I need advice on this emigration issue, especially for my family.

Is it advisable, kids 4 and a year old.

Young wife 25yr. I fear the separation is risky for husband/wife and the cultural influence on the kids.

Then which country

you owe your kids a second citizenship/pr,in places where dreams have 70 percent of coming true...top immigration countries are canada , Australia, new zealand, Ireland , germany (language barrier)

Good morning dear, if you don't have a minimum of 10 million(steady flow of money in the account not just a sudden lump sum) as your Pof it will be very hard to get an Australian visa. I know lots of people with even 10 million and below that didn't get the visa. Australia is one of the countries i know that requires a very huge Pof( 12 million upward) for study visa and yes it's very possible for you to get to Australia and you won't make use of 50% of your PoF after paying the tuition fees, job's are readily available and surviving in Aussie is not as herculean as Canada, USA. Health and tech is lucrative in Aussie, personally from my research i feel all field in Aussie is lucrative cause the opportunities are if one is hardworking.
I personally if I've that (money 12 million upward) steady flow of money in my account or I've a family sponsors and that's funds is in it I'll migrate to Australia. I believe there's no country in the world that rewards hardwork like Australia the only disadvantage is it's very far from Nigeria.

P. S., All this info are what i got to know while carrying my own personal research.

helpyom:


I often visit this forum to read, learn, and follow you all advise here, seeing post of everyone here Business minded encourages me to be more hardworking so I can also follow your footprints to success like you all has been displaying here over the years.


Having read and followed this thread relently, I had to re-think to try my luck here being that i know i am a good investment that would appreciate by God's mercy.


I had a previous thread about migrating but no help.

I am a very hardworking human also with skills in sewing/tailoring ,I am a graduate of Pharmacology i currently work in a hospital Pharmacy I have been working here for over 3years. I tried migrating 3 years ago but couldn't there was no help as well I had to keep striving after 3years my siblings I helped all are graduates today thanks to God almighty but with my salary still at 60k without increment.


It has always been my desire to leave this country but I have no one to help ease the burden monetary, I recently got an admission to study in Australia for 2years graduate entry Nursing program Sept/Oct 2020 studies program which by june 2020 i should should be applying for Visa for the course .

I am here to solicit to be an investment that would appreciate i promise i will start paying back money you invested in 6months after Arrival in Australia. I am Soliciting for 3mil for initial deposit directly to the school account before Coe for the visa can be issued every other expenses i would handle it with the little i have saved.

The 3million for part tuition is the main goal before I can apply for visa, sourcing money for other things won't be an issue when I move there I have gotten 2 Pharmacy assistant jobs with good jobs over there twice that could secure me PR, I couldn't because I told them I wasn't residing in Australia.Again I have handwork skills that could fetch me some money while there.



Please go through my previous thread....Am a determined lady I need to start my life afresh. Nigeria can't save my destiny the fact that I don't even have money to start up, I just want to leave here help make my dreams come true not just paying you back your money, will have to thank you and bless you all my life.


I have dreams and goals in healthcare business and technology don't let it die off

Good morning bosses and business mentors here @ahiboilandgas, @emmanuelewumi @sholapey, @zamirikpo
@Nnamz @Diyke4rich, @Alaska90 @Tvegas, @naijaoyibo and other bosses here I couldn't mention..

zamirikpo:


My oga, I need advice on this emigration issue, especially for my family.

Is it advisable, kids 4 and a year old.

Young wife 25yr. I fear the separation is risky for husband/wife and the cultural influence on the kids.

Then which country

Chances of regret is high. This opinion is based on cases I have seen.

zamirikpo:


From the small economics I did, when demand is higher than supply, price will go up.

We import almost every thing, cbn had to barn 42 item and am sure we still have over 100 more item we import, reason becos we don't have industries, why? Cost of production is high, why? The primary resource for any production (Nepa), is absent, why?, CORRUPTION0.

As long as we keep running to the west for most of our needs, the dollar will keep climbing.

U said they want to keep our currency week so they can get our resources cheap, I disagree, our most priced assert is sold at an international rate, same price with Russia, Saudi etc.

Na we hold ourselves, over the years we haven't been able to build capacity to produce anything, whether for local consumption or export, how would the naira gain.

About the bottle of water which type, cos I know in naija all bottle water is the same and na God dey save us, but in the west u could get spring water, ionized water etc....

Thanks for intelligent feedback. This is how we are meant to communicate. Thumbs up!

However, even our prized resource has a cost of production. With higher exchange rate, the dollar will be able to pay for more services. More and more producers are pushing to pay for local services in Naira. We have services such as catering, maintenance, facility supplies, etc. Even high end services such as helicopter operations and oilfield services are being paid in 60/40 split between Dollar and Naira.

IHelp:


Chances of regret is high. This opinion is based on cases I have seen.

zamirikpo:


From the small economics I did, when demand is higher than supply, price will go up.

We import almost every thing, cbn had to barn 42 item and am sure we still have over 100 more item we import, reason becos we don't have industries, why? Cost of production is high, why? The primary resource for any production (Nepa), is absent, why?, CORRUPTION0.

As long as we keep running to the west for most of our needs, the dollar will keep climbing.

U said they want to keep our currency week so they can get our resources cheap, I disagree, our most priced assert is sold at an international rate, same price with Russia, Saudi etc.

Na we hold ourselves, over the years we haven't been able to build capacity to produce anything, whether for local consumption or export, how would the naira gain.

About the bottle of water which type, cos I know in naija all bottle water is the same and na God dey save us, but in the west u could get spring water, ionized water etc....

You guys that doesn't see anything good in Nigeria. You mean you never see spring and ionized water in Nigeria for real? Probably you drink more of pure water or you drink bottle water without reading

ahiboilandgas:
you owe your kids a second citizenship/pr,in places where dreams have 70 percent of coming true...top immigration countries are canada , Australia, new zealand, Ireland , germany (language barrier)

They can go to college over there and then integrate into the country after their study. It is not as easy as you guys paint it. I will not advise anyone who is above 35 and has a decent job/business here in Nigeria to relocate. I am not talking from experience... I am talking from what I have seen and told by people who made the decision.
As a young unmarried guy, by all means explore and try out your options. But when you are heading towards 40 and you have a wife and kids, the situation is different.