Akin3891:



Disable your atm card and online transfer features on your main account which you have your savings on, it's advisable not to link any debit card with your saving accounts. No link at all to my savings, except you cut my head to the bank to withdraw, hence if any kobo miss in my acc, I hold my bank responsible.

seyisanya:
Just to add to Pa Emma's post, these rates fluctuate and one shouldn't just open an account with any of them simply based on their current rate. There was a time Stanbic MMF had the best rate, then AxaMansard, then FBNQuest. From my observation, on average, their rates seem to be very close in the long run.

Emmaesty:
How will your wife or children have access to your funds in case something happens to you tomorrow?

unite4real:


It's same way how your wife and children will have access to your savings account when something happens to you tomorrow?

It's not different from this. It's an account as well. It's a money market fund account.

emmanuelewumi:



Very necessary for one to have a will in order to make life easy for our loved ones.

With about 20k United Capital Trustees can help one draft a simple will

emmanuelewumi:





Will you now keep your cash at home?

XiaoLi:
Thanks for your advise, the part of the world where i live is very good in agribusiness and i am willing to learn here on the best way to do it, i actually have a cousin in Nigeria who is into it but in a small scale with about 5000 fishes, he said the business is so lucrative and have explained to me a bit how they do it, infact the profit margin he quoted was something insane that made me thinking if it is right to go into it while in Nigeria as i have lived most of my life abroad and planning to relocate to Nigeria soonest.

unite4real:


That's good to know.

Is it a one off payment or recurring

Nnamz:

Be very careful not to send a dime to your cousin for this business else it would end in premium tears.

emmanuelewumi:



It is a one of payment. You may choose them as well the executor of the will, or a lawyer, clergy, accountant or other reputable members of the society. They charge about 1% of the asset if they are chosen as the executor of the will.

emmanuelewumi:



It is a one of payment. You may choose them as well the executor of the will, or a lawyer, clergy, accountant or other reputable members of the society. They charge about 1% of the asset if they are chosen as the executor of the will.

Akin3891:



Disable your atm card and online transfer features on your main account which you have your savings on, it's advisable not to link any debit card with your saving accounts. No link at all to my savings, except you cut my head to the bank to withdraw, hence if any kobo miss in my acc, I hold my bank responsible.

seyisanya:
Just to add to Pa Emma's post, these rates fluctuate and one shouldn't just open an account with any of them simply based on their current rate. There was a time Stanbic MMF had the best rate, then AxaMansard, then FBNQuest. From my observation, on average, their rates seem to be very close in the long run.

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.

Emmaesty:
How will your wife or children have access to your funds in case something happens to you tomorrow?

9jatriot:
Why do many women always believe their husbands will die before them and they must as a matter of urgency be entitled to all his assets. Most men hardly have this kind of mindset for his wife.
The mind himself is thinking if I die, what happens to my family. He devise ways to ensure that madam has access in an eventuality, it is very hard to see a woman say "how do my husband and children have access to my wealth if I die".

Grupo:


Selfishness.

Additionally, I think one of the reasons is that in this part of the world, husbands are mostly often older than their wives. So, naturally, the older person is expected to die first.

emmanuelewumi:
I hope the number of infected cases will not rise to 5000 by next week Friday.

If that happens, total lockdown will be introduced again.


Better to have enough cash in our bank accounts, or hide it in money market funds because of the one million boys.

May God see us through this terrible phase.

emmanuelewumi:



Very necessary for one to have a will in order to make life easy for our loved ones.

With about 20k United Capital Trustees can help one draft a simple will

emmanuelewumi:



Men will always die before their wives because of the stress we go through in order to provide for our family and at times for our in-law.

Marriage should be a merger, where both parties contribute for the common good of the family and our children.

Leezah:
This does not sit well with most Nigerians.

pluto09:
MACROECONOMIC UPDATE as copied;



Key Takeaways from the Citizens Dialogue Session on Government Fiscal Policy Decisions in Response to the Fall in Oil Prices and the COVID-19 Pandemic
The Ministry of Finance, Budget and National Planning and the Department for Internal Development (DFID) held a citizen’s dialogue session (earlier today) on Nigeria’s response to the fall in oil prices and the COVID-19 pandemic. The panel was led by the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahamed, who was ably supported by Prince Clem Agba (Minister of State, Budget and National Planning), Mr. Ben Akabueze (DG Budget Office of the Federation), and Lade Jaiyeola (CEO, Nigeria Economic Summit Group).

A. Below are some takeaways from the representatives of government
1. Government expects GDP to contract by 3.5% YoY in 2020
2. Oil earnings is now projected to decline by 90.0% in 2020
3. Estimated net oil & gas revenue available for Federation Account Allocation Committee (FAAC) distribution is now forecasted 80.0% lower at N1.1 trillion (vs. N5.5 trillion previously), despite a N649 billion reduction in allowable fiscal deductions by NNPC for federally funded projects/expenditures. Specifically, projected PMS under-recovery has been reduced from N457 billion to zero
Oil production now projected at 1.7mbpd (vs. 2.18mbpd previously)
Oil prices expected to average $20 per barrel (vs. budget benchmark of $57 per barrel)
Average production cost of Nigerian crude has been revised downward to $28 per barrel from $33 per barrel (with implications for Petroleum Profit Tax
A severe outbreak of COVID-19 in Nigeria could magnify the impact of low oil price and weaker domestic crude production
4. Customs revenue is now projected at N1.2 trillion in 2020 (vs. N1.5 trillion previously)
5. Amount accruable to VAT pool account now forecasted at N2.0 trillion in 2020 (vs. N2.1 trillion previously)
6. Amount accruable to federation account now projected at N3.9 trillion (vs. N8.6 trillion previously)
7. Projected federal government receipt from federation account for 2020 is now put at N2.4 trillion (compared to N4.8 trillion previously)
8. States and local governments are now likely to obtain N2.1 trillion and N1.5 trillion, apiece, from FAAC (compared to N3.3 trillion and N2.5 trillion, respectively, in previous estimates)
9. Projected N5.6 trillion budget deficit to be financed through privatization proceeds (N126 billion), drawdowns from FGN Special Accounts (c.N260 billion), bilateral/multilateral drawdowns (N387 billion), and new borrowings (N4.6 trillion)
10. Debt service pressure to be eased by significant moratoriums on new loans (IMF’s RFI of $3.4 billion comes with 3 years moratorium) and expected deferrals of current debt service obligations until macro conditions improve
11. As part of measures to alleviate the impact of COVID-19, the government has set up an Economic Sustainability Committee to, among others, assess systemic vulnerabilities and develop programs that would make the expected recession short-lived and ensure sustainable long-term growth
12. Measures are underway to strengthen agricultural value-chain with strategic focus on land acquisition, road networks, and funding. Government also plans to offtake agro-products when market conditions are unfavourable
13. Government is looking at funding supports for the aviation sector
14. The president is likely to decide on land border closures after the current health crisis. Negotiations with neighboring countries have been smooth
15. Although similar challenges were faced in 2016, Nigeria currently has significantly lower fiscal buffers. In view of the challenges, government has approved the integrated policy framework recommended by the CMC and adjustments to the 2020 budget
16. The budget office is finalizing a revised 2020-2022 Medium Term Expenditure Framework and Strategy Paper (MTEF/FSP) as well as an amendment to the 2020 Appropriation act

B. According to Nigerian Economic Summit Group (NESG)
Nigeria needs N10.1 trillion worth of interventions but current intervention capacity stands at N4.5 trillion
The implied funding gap of N5.6 trillion is likely to be covered by
Medium to long term domestic borrowing
External borrowings (possibly from World Bank, IMF, IFC, AFDB)
Quantitative easing
Total announced stimulation (FG, CBN, e’tal) currently stands at N4.5 trillion or 3.1% of GDP (vs. 10.0% of GDP in South Africa)

Grupo:


That's why I'm never getting married until I find a lady who is willing to practice true equality. Not these online loudmouths called feminists that shrink into their shells when it's time to take responsibility.

9jatriot:
Why do many women always believe their husbands will die before them and they must as a matter of urgency be entitled to all his assets. Most men hardly have this kind of mindset for his wife.
The mind himself is thinking if I die, what happens to my family. He devise ways to ensure that madam has access in an eventuality, it is very hard to see a woman say "how do my husband and children have access to my wealth if I die".

emmanuelewumi:



Men will always die before their wives because of the stress we go through in order to provide for our family and at times for our in-law.

Marriage should be a merger, where both parties contribute for the common good of the family and our children.

Grupo:


That's why I'm never getting married until I find a lady who is willing to practice true equality. Not these online loudmouths called feminists that shrink into their shells when it's time to take responsibility.

Leezah:
You people always raise false hope. Listen to the health said they are using Remdesivir which is a broad-spectrum antiviral medication developed by the biopharmaceutical company Gilead Sciences. As of 2020, remdesivir is being tested as a specific treatment for COVID-19, and has been issued an Emergency Use Authorization in the U.S. for those hospitalized with severe diseasePlease be optmistic.

Leezah:
So, women dont die before their husdand, the Emir of Daura's wife died before him

emmanuelewumi:



Probability is tilted towards husband's dying before their wives. Should be 70:30

Leezah:
So, women dont die before their husdand, the Emir of Daura's wife died before him