Towma:
Please who knows how secure trustbanc microfinance bank are?
I wanted to place some money in their fixed deposit and I dont want to lose it.

Towma:
Please who knows how secure trustbanc microfinance bank are?
I wanted to place some money in their fixed deposit and I dont want to lose it.

Thisnut:
when a country is dependent on import, dollar becomes her currency by default.

My sister bought audi 80 at 350k naira about 10years ago, today that car is being priced at 500k naira. Does it mean the value of the car went up? Absolutely no, it's the value of naira that went down.

Truth be told sir, dollar is Nigeria's first currency, while naira is her second currency. From airline booking, vacation, electronic, furniture and other household goods, transportation, clothing, food items are all controlled by dollar. The other day, a lady was telling a market woman selling garri that the price was too high, the market woman responded that " madam dollar don go up.

If you kept dollar at one dollar to naira @180 in 2014 without single investment and sell at 455 naira today you would have made 152.7 percent increase. 455-180/180*100.


True, America don't use naira, even benin Republic next door don't use it either.

unite4real:


I opened with Morgan Capital and the minimum to start trading was N5,050.00

After that, you can even test the waters by buying shares worth 50 Naira or even less, like 2 units of zenith bank and 2 units of First bank shares

temi4fash:

Sir/Ma,

Please confirm if you did all of this online or you had to go their office??

Thisnut:
when a country is dependent on import, dollar becomes her currency by default.

My sister bought audi 80 at 350k naira about 10years ago, today that car is being priced at 500k naira. Does it mean the value of the car went up? Absolutely no, it's the value of naira that went down.

Truth be told sir, dollar is Nigeria's first currency, while naira is her second currency. From airline booking, vacation, electronic, furniture and other household goods, transportation, clothing, food items are all controlled by dollar. The other day, a lady was telling a market woman selling garri that the price was too high, the market woman responded that " madam dollar don go up.

If you kept dollar at one dollar to naira @180 in 2014 without single investment and sell at 455 naira today you would have made 152.7 percent increase. 455-180/180*100.


True, America don't use naira, even benin Republic next door don't use it either.

NL1960:


Even if the garri seller is saying 'madam, dollar don go up', is the woman selling the garri in dollar or is her rate of increase equivalent to the rate the dollar went up?. The garri seller saying it is just saying it as a joke. The real reason garri price went up was because of the inter-state lockdown. Most of the sellers refused to go and bring in because of the high cost of transportation due to the several points on the road they have to settle security agents enforcing the inter-state ban.

temi4fash:

Sir/Ma,

Please confirm if you did all of this online or you had to go their office??

Onboard1:


Can the account opening be done fully online?

unite4real:




Fully online. You don't have to go to their office. As a matter of fact I have never been to their office anywhere.

OgogoroFreak:
Don't go near microfinance banks when you think of investment o. It may end in tears.

Thisnut:
when a country is dependent on import, dollar becomes her currency by default.

My sister bought audi 80 at 350k naira about 10years ago, today that car is being priced at 500k naira. Does it mean the value of the car went up? Absolutely no, it's the value of naira that went down.

Truth be told sir, dollar is Nigeria's first currency, while naira is her second currency. From airline booking, vacation, electronic, furniture and other household goods, transportation, clothing, food items are all controlled by dollar. The other day, a lady was telling a market woman selling garri that the price was too high, the market woman responded that " madam dollar don go up.

If you kept dollar at one dollar to naira @180 in 2014 without single investment and sell at 455 naira today you would have made 152.7 percent increase. 455-180/180*100.


True, America don't use naira, even benin Republic next door don't use it either.

topsquino:


I love this 'investment' . No sweat. No stress. No stories. Just wait for the devaluation and take advantage of it.

@barrytone should like this investment

topsquino:


I love this 'investment' . No sweat. No stress. No stories. Just wait for the devaluation and take advantage of it.

@barrytone should like this investment

seyisanya:
It's not an investment, it's called currency speculation. It can go either way!

OgogoroFreak:
Food is allowed to move freely. No interstate ban on food.

OgogoroFreak:
Food is allowed to move freely. No interstate ban on food.

CsRockefeller:


With all due respect, some of you make comments like people out of touch.

You think it's eldorado out there? It's here people were castigating Nigerians for having low savings culture and I just smiled.

Be thankful that it's good on your side, be thankful.

NL1960:


Even if the garri seller is saying 'madam, dollar don go up', is the woman selling the garri in dollar or is her rate of increase equivalent to the rate the dollar went up?. The garri seller saying it is just saying it as a joke. The real reason garri price went up was because of the inter-state lockdown. Most of the sellers refused to go and bring in because of the high cost of transportation due to the several points on the road they have to settle security agents enforcing the inter-state ban.

Thisnut:
when a country is dependent on import, dollar becomes her currency by default.

My sister bought audi 80 at 350k naira about 10years ago, today that car is being priced at 500k naira. Does it mean the value of the car went up? Absolutely no, it's the value of naira that went down.

Truth be told sir, dollar is Nigeria's first currency, while naira is her second currency. From airline booking, vacation, electronic, furniture and other household goods, transportation, clothing, food items are all controlled by dollar. The other day, a lady was telling a market woman selling garri that the price was too high, the market woman responded that " madam dollar don go up.

If you kept dollar at one dollar to naira @180 in 2014 without single investment and sell at 455 naira today you would have made 152.7 percent increase. 455-180/180*100.


True, America don't use naira, even benin Republic next door don't use it either.

Phylife:


Am interested. Where should we go from here?

Thisnut:
i believe you should have known better than the garri seller. How would you say she is no selling in Dollar and she's not affected?

Do you know when money loses it purchasing power, it affects ever sector, even the locally made commodities, especially in a country like Nigeria that's mostly dependant on import?
The garri seller would also need to increase her prices in order for her money to be useful when she is going round the circle of exchange.

Someone said the landlord wouldn't increase house rent alongside the dollar increment, yet House rent has doubled from 2014 till date. Even though rent increment isn't done as often, but it always has a way to blend with inflation.
Oga landlord still dey use dollar.

NL1960:


Iam not saying they do not increase but the rate of increase is not the rate of the increase in exchange rate. The garri seller saying it is because of dollar is saying that because he/she is hearing the foreign rice seller saying it. Once importers start saying dollar has increase, even vulcanizer and barber will increase and say it is because of dollar increaase. The palmwine tapper in the village will also even blame the increase in the price of a keg of palmwine on dollar increase. He will also say 'dem talk say dollar don increase'.

unite4real:


I opened with Morgan Capital and the minimum to start trading was N5,050.00

After that, you can even test the waters by buying shares worth 50 Naira or even less, like 2 units of zenith bank and 2 units of First bank shares

DexterousOne:



Can you withdraw to zero balance on Morgan?

XiaoLi:
Keeping your idle cash in dollars in a country like Nigeria which the economy is not stable is the best thing ever, i bought more than 300k dollars march this year at the rate of 359, if i sell same today at the rate of 440 everybody knows how much i will be making, if i have left thesame money in naira and wanted to convert it to dollars today....your guess is as good as mine. Keeping your idle cash in dollars in Nigeria is the KING!

DexterousOne:



I keep hearing Morgan here and there


Are they really it?

Or it's all hype?

GonFreecss1:



Their stock trading fees is the cheapest in Nigeria.

chyima:


Is it advisable to keep the dollars in dorm account or at home

DexterousOne:


Oww
Okay


But I still love my Meristem nonetheless

emmanuelewumi:



You must have been trading with them for long