PresidentBuhari:
Can anyone advise which Investment I can go for with a cash sum of N24 million currently laying idle in my bank account, I am thinking of buying this egg below, it has always been my dream to own it, the current cost f the car is N23 million, is this a good investment ot what do you suggest?

enjoy your life ooooh my neighbour died at 52 years...he own about 3 plazas ...and always building...i ask him let go to istanbul for vacations..he no wan spend...

PresidentBuhari:
Can anyone advise which Investment I can go for with a cash sum of N24 million currently laying idle in my bank account, I am thinking of buying this egg below, it has always been my dream to own it, the current cost f the car is N23 million, is this a good investment ot what do you suggest?

Yowa!

You don get am for Mercedes, get am for private jet, Aboki, carry go!! Your fi-full are solidy behind you.

.

NL1960:


So you think a new filling station just setting up will not do that?.

My bank called me and said that i have qualified for a consumer loan at a certain rate. I just laugh at the person that called me and ask her what made her think i will leave that of GTB that is 1.33% per month to take theirs that is almost double that. She now kept quiet. I asked her how they can be coming into the market newly to compete and start at almost double the interest rate of GTB and asked her if they are going to give me diamond or gold instead of Naira?.

it not becos they luv u but cbn crr debits zeniths was debited over 200 bn last months ....banks are forced to give consumer loan by the cbn policey not any marketing strategy...

ahiboilandgas:
nnpc retail ltd control 17 percent market share ....they have about 36 station called mega 1 ....funny enough the remaining 300 are privately owned (affiliates)...so Ahib oil and gas will be selling in it station in Asokoro ...same Ahib oil and gas will be selling in wuse...under Nnpc franchise...All na me ......so i will dirvert Nnpc wuse allocations to my stations in Asokoro to sell at 130 (no queues).....while i sell at 121.5 in my nnpc franchises...using only 1 pump and 2 staffs ....and lond painful lines and disorganised......

o

U r revealing too much my oga

NL1960:


You mean if i see a filling station then that displayed 144 and i enter to buy fuel, they will generate a waybill for me instead of selling the fuel to me at 144?.

U guyz are funny ooh

Ghen ghen ghen......
Dollar 463 right now on hopes of OPEC+ fallout and unclarity of cuts continuity.
#Emefielemustdevalue

Upon say na weekend dollar price still dey go up and aboki dey buy 448,to tell you say that thing weh dey give them confidence too huge.
Nigeria is broke
Na em be say monday na 470 dem go use begin market,afternoon fit reach 475

zamirikpo:
o

U r revealing too much my oga

i don stop

ahiboilandgas:
hope say na Nnpc mega 1 ...if na affiliate i will sell everthing to black market people ..if the difference is much fuel will.disappear from.stations to kegs ....

Was waiting to see this point, my people Nnpc is inside Nigeria(not in america). If the price difference is too much, my dear the common man will not see the fuel to buy. No be today.

But mind u, even nnpc may not do better as most people speculate. The matter plenty. Why will they be selling diesel N189 now while rainoil and a y shafa are selling N180.

I don't want to start revealing dirty business secrets here. One man was in charge of all dpk allocations in nigeria at N45 some years ago, did it get to Nnpc mega stations?? If crude oil pruce climbs even the nnpc stations will not get fuel to sell, trust me.

My dear nor be their fault o. Na TB rates cause am

awele186:
Una too argue sha. Let's go back to dropping investment advices and discussions

Oil biz is deep ,u have to device a strategy and follow ur route so to come out victorious.Thats why many new entrant in the market that jump into it cos of positive stories always have their hands burnt and loss huge funds. Money dey inside torns ( ego di na ogwu is our igbo proverb )

ahiboilandgas:
i do go open our yansh for markets....oil and gas the more u look the less u understand ....

Oga ,unfortunately i dont supply filling station rather i do other stuff with them while the owner runs it and take all profit which is not my biz . I'm a consumer like u . I dont even supply filling station cos i hv lost money with them years back and i never tried to revisit doing business with them . Oil business is vast , u chose ur poison according to ur taste .

NL1960:

Ahib and madam Enyinne think say most people no know. Iam mindful where i buy fuel. There is a point that my car fuel gauge gets to that i go and buy fuel. I buy a certain amount and i know where the fuel gauge suppose reach after that. If the gauge no reach there, i no dey come back next time to buy from there.

zamirikpo:


Was waiting to see this point, my people Nnpc is inside Nigeria(not in america). If the price difference is too much, my dear the common man will not see the fuel to buy. No be today.

But mind u, even nnpc may not do better as most people speculate. The matter plenty. Why will they be selling diesel N189 now while rainoil and a y shafa are selling N180.

I don't want to start revealing dirty business secrets here. One man was in charge of all dpk allocations in nigeria at N45 some years ago, did it get to Nnpc mega stations?? If crude oil pruce climbs even the nnpc stations will not get fuel to sell, trust me.

he chilling in the Senate...1 dpk allocation i make 2m naira within 12 hours ....

A station in yusufari yobe state near boader was reported to have sold 15 trucks of 60000 litres of pms daily for 7 years ...the owner a current billionaires used it to build several mega station across Nigeria ....if u know u know ..if u dont try to ask questions ....

ahiboilandgas:
A station in yusufari yobe state near boader was reported to have sold 15 trucks of 60000 litres of pms daily for 7 years ...the owner a current billionaires used it to build several mega station across Nigeria ....if u know u know ..if u dont try to ask questions ....

This one is simple na,he is selling to traffickers that divert it to northern Cameroon.
I know other places like that littered all over the country.
Abonche in Taraba and co...
There are even some places they use as loading points for barges attached to tug boats and sea going small tankers that move products to Benin republic.This field is dominated by bunkerers
There is nothing so peculiar or difficult about any business,just use the strategy that works for you and make your bread.

Now that subsidy and regulations have been removed,traffickers are now free to operate in Nigeria.
Even if fuel is sold for 200-250 naira a litre,they will still buy because of the current weak Naira.
You now see why I am advising this shithole to devalue their currency and own both west Africa and Central africa sub region.
Nigeria will prosper with weak naira but the elites that are benefiting from artificial strong naira don't want it.
They know all these but refuse to apply them for personal gains and emotional reasons.

Hello please does stanbic ibtc do any mutual funds or trading in dollars

Theconglomerate:
Ghen ghen ghen......
Dollar 463 right now on hopes of OPEC+ fallout and unclarity of cuts continuity.
#Emefielemustdevalue

Upon say na weekend dollar price still dey go up and aboki dey buy 448,to tell you say that thing weh dey give them confidence too huge.
Nigeria is broke
Na em be say monday na 470 dem go use begin market,afternoon fit reach 475

Na.

At the moment, the CBN is perfectly okay with $ in the 400 range in the black market. However, 450/460 is their limit and over the weekend and early next week, there'd be some strategic pressure to lift the rate. But just short of enough to take it back over the 400 mark. At least for now.

Here's the reality. The CBN can crash the rate to 380 if they so choose. It'd take 3 days tops. They have the ammunition. Reserves is circa $37b. I&E rate is 390 or thereabout. The worst for oil is in the past.

That said, to the CBN top-brass, it is moronic to spend $2-3b (about a trillion naira) per month holding a 380/390 rate, when we just cut Universal Basic Education budget from 111b to 51b yesterday. It's bad optics, reeks of absurd priorities, and goes against the sermon that there's no money.

A 10-15% rate surcharge for those who want to import toothpick is perfectly acceptable during a global downturn.
Those with a more fiscally responsible need can go through the banks to access the CBN $400m per month sale facility to small businesses/individuals that was recently restarted.
Those who recently made online purchases at 390 through GTBank used this facility.

PS: Part of the reason for the steep drop today is the release of a CBN Report for May where respondents firms expected the naira to "depreciate in the current month, next month, next two months and appreciate in the next six months." https://punchng.com/firms-expect-further-naira-depreciation-dollar-sells-for-n440/

TL;DR: The depreciation of the naira in the parallel market is controlled and deliberate. It may change soon, but for now, that's the state of things.

-Lord

LordAdam16:


Na.

At the moment, the CBN is perfectly okay with $ in the 400 range in the black market. However, 450/460 is their limit and over the weekend and early next week, there'd be some strategic pressure to lift the rate. But just short of enough to take it back over the 400 mark. At least for now.

Here's the reality. The CBN can crash the rate to 380 if they so choose. It'd take 3 days tops. They have the ammunition. Reserves is circa $37b. I&E rate is 390 or thereabout. The worst for oil is in the past.

That said, to the CBN top-brass, it is moronic to spend $2-3b (about a trillion naira) per month holding a 380/390 rate, when we just cut Universal Basic Education budget from 111b to 51b yesterday. It's bad optics, reeks of absurd priorities, and goes against the sermon that there's no money.

A 10-15% rate surcharge for those who want to import toothpick is perfectly acceptable during a global downturn.
Those with a more fiscally responsible need can go through the banks to access the CBN $400m per month sale facility to small businesses/individuals that was recently restarted.
Those who recently made online purchases at 390 through GTBank used this facility.

PS: Part of the reason for the steep drop today is the release of a CBN Report for May where respondents firms expected the naira to "depreciate in the current month, next month, next two months and appreciate in the next six months." https://punchng.com/firms-expect-further-naira-depreciation-dollar-sells-for-n440/

TL;DR: The depreciation of the naira in the parallel market is controlled and deliberate. It may change soon, but for now, that's the state of things.

-Lord

So they're basically allowing it to fall in order to protect the reserves from depleting due to "frivolous" imports? I guess that's why there's been no cash intervention. Instead the black market funds itself via fearful speculators.

But what'll happen if international flights resume from later in June? Even though I doubt that people will travel as travel restrictions are still on.

LordAdam16:


Na.

At the moment, the CBN is perfectly okay with $ in the 400 range in the black market. However, 450/460 is their limit and over the weekend and early next week, there'd be some strategic pressure to lift the rate. But just short of enough to take it back over the 400 mark. At least for now.

Here's the reality. The CBN can crash the rate to 380 if they so choose. It'd take 3 days tops. They have the ammunition. Reserves is circa $37b. I&E rate is 390 or thereabout. The worst for oil is in the past.

That said, to the CBN top-brass, it is moronic to spend $2-3b (about a trillion naira) per month holding a 380/390 rate, when we just cut Universal Basic Education budget from 111b to 51b yesterday. It's bad optics, reeks of absurd priorities, and goes against the sermon that there's no money.

A 10-15% rate surcharge for those who want to import toothpick is perfectly acceptable during a global downturn.
Those with a more fiscally responsible need can go through the banks to access the CBN $400m per month sale facility to small businesses/individuals that was recently restarted.
Those who recently made online purchases at 390 through GTBank used this facility.

PS: Part of the reason for the steep drop today is the release of a CBN Report for May where respondents firms expected the naira to "depreciate in the current month, next month, next two months and appreciate in the next six months." https://punchng.com/firms-expect-further-naira-depreciation-dollar-sells-for-n440/

TL;DR: The depreciation of the naira in the parallel market is controlled and deliberate. It may change soon, but for now, that's the state of things.

The CBN is okay with the dollar in the 450 range?
If so,why didn't they just devalue to 450 then and save everyone the stress?
Where has this top-brass been from 2017-2020 till coronavirus came and expose their 3 year stupidity?
The CBN has just learnt it's lesson,there is nothing deliberate about it.
Also,they aren't so sure about their income source which is oil so everyone is waiting for now till stability returns.
Like what if you start interventions today and after 2 weeks oil comes up with another story?
Emefiele and his artificial naira team are handicapped,not that it is what they want.
Manufacturers don't have dollars and you are saying they can go to the bank?which bank?
People accessing dollars through banks are people with very minute needs that is super limited to chicken change amounts,asides that better find your way to your aboki.
Is there anything more fiscal than someone who wants to import raw materials for local production?
Whose demand do you think is putting this much pressure on naira?toothpick importers?
It is manufacturers and foreign investors repatriating their funds that is heating up the markets like this.
They've seen how vulnerable they were and have decided to give themselves brain.

olujaidi:


So they're basically allowing it to fall in order to protect the reserves from depleting due to "frivolous" imports? I guess that's why there's been no cash intervention. Instead the black market funds itself via fearful speculators.

For the most part, yes.

But what'll happen if international flights resume from later in June?

I'm not in the business of speculating. I'm only giving insight as to why things are the way they are presently.

Even though I doubt that people will travel as travel restrictions are still on.

People will travel.

-Lord

Mutual funds is the hallmark of Stanbic. They are one of the best in the game.
Yes they also have the dollar aspect of their investment.

awele186:
Hello please does stanbic ibtc do any mutual funds or trading in dollars

ojesymsym:
Mutual funds is the hallmark of Stanbic. They are one of the best in the game.
Yes they also have the dollar aspect of their investment.

With about the poorest interest despite being with the highest NAV, or there about ☹️

Mutual funds is the hallmark of Stanbic. They are one of the best in the game.
Yes they also have the dollar aspect of their investment.

Thank you

Poorest? Are you judging with the recent poor run of events after TB went down?
Anyway, I do not have an account anywhere else so I cannot compare directly but I did do a lot of research on the mutual funds thread and I know the FBN Quest guys were always complaining of one thing or the other.

hias2012:


With about the poorest interest despite being with the highest NAV, or there about ☹️

Theconglomerate:
The CBN is okay with the dollar in the 450 range?
If so,why didn't they just devalue to 450 then and save everyone the stress?
Where has this top-brass been from 2017-2020 till coronavirus came and expose their 3 year stupidity?
The CBN has just learnt it's lesson,there is nothing deliberate about it.
Also,they aren't so sure about their income source which is oil so everyone is waiting for now till stability returns.
Like what if you start interventions today and after 2 weeks oil comes up with another story?
Emefiele and his artificial naira team are handicapped,not that it is what they want.
Manufacturers don't have dollars and you are saying they can go to the bank?which bank?
People accessing dollars through banks are people with very minute needs that is super limited to chicken change amounts,asides that better find your way to your aboki.
Is there anything more fiscal than someone who wants to import raw materials for local production?
Whose demand do you think is putting this much pressure on naira?toothpick importers?
It is manufacturers and foreign investors repatriating their funds that is heating up the markets like this.
They've seen how vulnerable they were and have decided to give themselves brain.

Nigeria currently operates multiple rate windows. The Official, Customs, NAFEX, BDC, Interbank, Parallel rates are markedly different.

Pre-corona, there was a sustained effort towards convergence, but it wasn't absolute.

Post-corona, the spread is more or less the same. Our monetary policy hasn't changed fundamentally. What has happened is an officially-sanctioned 10-15% devaluation (or as Emefiele calls it, "Currency Adjustment" to reflect the current pressures, downturn and our fiscal situation.

For instance, Customs rate was 326 when BDC was 357. Today, Customs is 361 while BDC rate is 380.

However, because most of us here are exposed to the black market, it seems like the sky is falling. Whereas in that market, the CBN simply reverted back to 2015 to early 2017 policy with a distinct stopgap.

I don't want to write a dissertation on why the policy is understandable, and what the pros and cons are; but know this--the CBN can crash the rate to 380 and defend it for the next two months easily. The 12-month forwards rate is currently around the 450-460 mark from 522 last month.

The three questions stopping the CBN echelon are:

1. At what cost?
2. Why?
3. How confident is the current COVID rebound?

Put simply, defending the naira in the black market is not the best use of dollars currently. That's it. Nonetheless, they'd not let the rate spiral out of control.

-Lord

LordAdam16:


Nigeria currently operates multiple rate windows. The Official, Customs, NAFEX, BDC, Interbank, Parallel rates are markedly different.

Pre-corona, there was a sustained effort towards convergence, but it wasn't absolute.

Post-corona, the spread is more or less the same. Our monetary policy hasn't changed fundamentally. What has happened is an officially-sanctioned 10-15% devaluation (or as Emefiele calls it, "Currency Adjustment" to reflect the current pressures, downturn and our fiscal situation.

For instance, Customs rate was 326 when BDC was 357. Today, Customs is 361 while BDC rate is 380.

However, because most of us here are exposed to the black market, it seems like the sky is falling. Whereas in that market, the CBN simply reverted back to 2015 to early 2017 policy with a distinct stopgap.

I don't want to write a dissertation on why the policy is understandable, and what the pros and cons are; but know this--the CBN can crash the rate to 380 and defend it for the next two months easily. The 12-month forwards rate is currently around the 450-460 mark from 522 last month.

The three questions stopping the CBN echelon are:

1. At what cost?
2. Why?
3. How confident is the current COVID rebound?

Put simply, defending the naira in the black market is not the best use of dollars currently. That's it. Nonetheless, they'd not let the rate spiral out of control.

-Lord

CBN merged all rates to one single rate,besides I don't know what multiple exchange rate has to do with falling naira or why CBN isn't defending it.
Don't you think naira future forwards appreciating to N450 should make the naira appreciate currently as speculators and BDCs would be afraid of buying now at high price?
Why isn't it appreciating?
CBN has reserves to do it,but why aren't they doing it?That's the question and what matters.
They've realised their mistakes and are adjusting.
It's not a thing of choice but helplessness.
That's my point.If not,let them do it so we see how it ends

Theconglomerate:
CBN merged all rates to one single rate,besides I don't know what multiple exchange rate has to do with falling naira or why CBN isn't defending it.
Don't you think naira future forwards appreciating to N450 should make the naira appreciate currently as speculators and BDCs would be afraid of buying now at high price?
Why isn't it appreciating?
CBN has reserves to do it,but why aren't they doing it?That's the question and what matters.
They've realised their mistakes and are adjusting.
It's not a thing of choice but helplessness.
That's my point.If not,let them do it so we see how it ends

The CBN did not merge all rates to a single rate.

I don't want to type out large blocks of text. I'm seeing a 6 where you're seeing a 9.

Clearly, the CBN has the reserves. Clearly, there's been an oil price rebound. Clearly, things are looking up globally. Clearly, most economists and CFOs do not see a substantial mid-term devaluation in the horizon.

Therefore, it is not helplessness stopping the CBN from intervening more strongly in the parallel market, it is a policy decision. For the moment. In March, you could call it helplessness: In June, it isn't.

As the Americans would say, "If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck."

-Lord

LordAdam16:


The CBN did not merge all rates to a single rate.

I don't want to type out large blocks of text. I'm seeing a 6 where you're seeing a 9.

Clearly, the CBN has the reserves. Clearly, there's been an oil price rebound. Clearly, things are looking up globally. Clearly, most economists and CFOs do not see a substantial mid-term devaluation in the horizon.

Therefore, it is not helplessness stopping the CBN from intervening more strongly in the parallel market, it is a policy decision. For the moment. In March, you could call it helplessness: In June, it isn't.

As the Americans would say, "If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck."

-Lord

If the CBN didn't merge rates as you say,then what did it do?
Oil price at $40 doesn't mean it can't fall again to below 35 again.We all saw what happened at OPEC+ meeting on thursday.
This is why the CBN is silent for now,too much uncertainty.
Also,oil the price rebound came at a cost.Cutting production means less revenue.You should know what this means.
You keep saying "interfering in the parallel market".
The CBN doesn't need to start giving BDCs money to trade on the streets for naira to strengthen.
A mere removal of restrictions on cards for international transactions,supply of fx to investors repatriating funds officially and sales of fx to Banks to sell to manufacturers and industrialists for their fx purchases will ease the pressure on the naira,not necessarily "parallel market".
The CBN has not been doing these things since the lockdown,so all these people have moved to the parallel markets to fulfill their fx needs,putting the naira under pressure and its price spiralling out of control.
So when you keep talking about interfering in the "parallel market",I really find it hard to understand what you mean
It's like saying the CBN has been satisfying official needs but fail to supply BDCs is the reason naira is depreciating
And I don't know why you keep putting Lord at the end of every post,it's beginning to make me uncomfortable.

ahiboilandgas:
it our secrets...we can sell for loss 135 and still make money ...the people selling at a loss make the most money....it our secrets and u cant understand and will never ....i can sell 140 in bama bronu State....

Maybe they adjust the meter

kisszhira:


Maybe they adjust the meter

Which meter, u'll only end up chasing ur customer.

Good day, my Ogas any information about SUKUK.

Thank you.