₦airaland Forum

Barrytone:
In response to quotes: my Tbills investment is solely savings to arrive at a certain targeted figure then I move them to bond and then repeat same process. Planning to commence bond investment Q1 of next year. I hardly have the 50m cap at hand when opportunity unveil as I have several smaller amount in treasury bills. On my source of income, so far I have only two being salary and Tbills interest but hoping to do bond from next year. I have decided to leave out my properties as there are not profitable and can only cater for few drinks. On why am not into biz, simply I can't monitor them as I wish. 2019 April I invested 1.1m on a young man to acquire mini bus and return my money in 18months. Yesterday I invited him over for account balancing and realized he just paid 490k in over a year. That can't be my biz, not ready and don't have time for fights. My target for now is to have a working capital of 1b naira then retire from my salary work. From my calculations this will be achieved by my year 55. No matter the value of naira then I bet shouldn't be 50% less from today's value. All I need is sustainability, change car every 3 years, maintain my house, pay domestic staff, have enough for health care when needs arise and cater for the needy in my little way. 1b at 10% is about 8m monthly and if value is half then am looking at 4m of today's value. With 4m monthly presently, I can live that live I so wished. I do not intend to go looking for more money as am busy planning my dead and really don't care what happens after am gone. how long do we think a 55yrs old man will survive. Those remaining years are for groove and not hustle. I can't be dangote that is building refinery at his age. My activity stops at 55, I just want to breath and not own money that might become useless to me yet useful to generation unborn. I hustled mine from the scratch, they will inherit my 1b capital and that's all. As it stands today, if I loss my job, my investment is capable of paying me same salary am receiving as it stands. There is amount of money you get and it just keep going up without doing a thing. On the 4% Tbills "savings" plan, with huge capital, you wouldn't feel the low rate hence those guys with billions keep over subscribing. They wouldn't risk their billions on this naija economy. All they do is recycle the billions. So even at 1%, its still over subscribed.

Your viewpoint is quite interesting. You don't like stress at all. I also understand being scared of losing the capital you have. It's not easy to hustle and then lose the capital so Govt securities is the surest. Also, the fact that there are so many investment options, banks, brokers, books etc to consider might also play a role in the way you think. When i believe i have heard it all someone brings up another investment option. Then you have the people who buy and study books on stocks and shares and investment as if they are writing exam. I wonder if they have two heads. On top of all this, they say we should worry about inflation and devaluation. To keep or not to keep dollars. It is enough to make one's head spin. In the midst of this storm, you have centered yourself and drowned out the noise. I like that. There is actually a certain comfort in limiting your choices. If not that TB rates are low, your plan is more of the slow and steady kind of plan @emmanuelewumi advocates when he talks about compound interest.

Apologies threadants if i derailed the thread. Just ignore.

ahiboilandgas:
so why are they not engaging them in professional jobs ...is it race issue or small economy

You can't take away the colour issue. That is the reality for many. Not that they don't have the necessary skills in most cases.

For those who are investors in VGIF and prospective investors find attached the facts of the funds sheet for second quarter of 2020.

abraolas1:
In the notice, Fidelity Bank said on its HYSA, the new interest rate for deposits below N100,000 is 3.75 percent versus the previous 4.05 percent, while for N100,000 to N999,999, the new rate is 4.15 percent instead of the old rate of 4.45 percent.

In addition, under the HYSA, savings of N1 million to N4.999 million now attracts 4.65 percent in contrast to the prior rate of 4.95 percent, while for N5 million and above attracts 5.15 percent versus the previous 5.45 percent.

From the look of things, it seem like this Fidelity offers the best rate.
Curious to know if there are any hidden unfavourable T&Cs, or is there somenthing I am missing?

mindtricks:
From the look of things, it seem like this Fidelity offers the best rate.
Curious to know if there are any hidden unfavourable T&Cs, or is there somenthing I am missing?

It's just like your savings account.

emmanuelewumi:
Watch out for the next primary market offering, it is better for a newbie to start from there.

I am interested sir. I also wondered how 10m will result in 46m at 16.5% in 10years. I thought if you get 16.5% every year on your 10m, you'd have 1.65m annually and 16.5m accumulated after 10years if you add that to 10m that's 26.5m. How have I missed it, sir?

Also sir, how would i know when the next primary market offering is out? what do I need to track and how do I know if the rates are wise to invest in or not.

Thanks

Hello. Has anyone recently paid for an item in USD online using his or her ATM naira card? How much were you charged? I want to pay for a course online and I want to know what rate my bank will charge me and go for a bank that charges less...if they all charge different rates...

Please say your bank name and how much you were charged per dollar. Thanks.

LandMann:
Hello. Has anyone recently paid for an item in USD online using his or her ATM naira card? How much were you charged? I want to pay for a course online and I want to know what rate my bank will charge me and go for a bank that charges less...if they all charge different rates...

Please say your bank name and how much you were charged per dollar. Thanks.

The rate is not constant but I will give out the ones I have used this month.
FBN 391 , maximum of $500 per month.
Zenith 391, maximum of $530 per month
GTB. 390, maximum of. $500 per month
Stanbic 420, maximum of $1000 per month
Fcmb. 426.
Access, 445

10% WHT

mindtricks:
From the look of things, it seem like this Fidelity offers the best rate.
Curious to know if there are any hidden unfavourable T&Cs, or is there somenthing I am missing?

talk2tonie:
For the FGN Bond auction timetable, visit DMO website below:
https://www.dmo.gov.ng/

thanks boss.

Hello Good People, can any help with these?

https://www.nairaland.com/5980645/sharia-compliant-investments#91543288

Thanks.

mindtricks:
From the look of things, it seem like this Fidelity offers the best rate.
Curious to know if there are any hidden unfavourable T&Cs, or is there somenthing I am missing?

Your minimum account balance must not go beyond a certain limit, else there will be some charges on the account.

You can confirm from the bank. I once experienced this with the then Diamond Bnk.

#Peace

Just watched an interview on CNN where a bar tender is complaining about 600 dollars given as unemployment benefits and that it's not enough. I did the exchange and I know you know better, a Nigerian bar tender doesn't get that but anyone getting over 200k naira in Nigeria should be among the average citizen and has no right to complain but build from there. I think even with 1k dollar life is still miserable over there but with 400k here, you are the boss. Before you leave your banking and other paying jobs to go attempt the hustle in the west just know it's either crime or luck I your portion. I don't work on luck.
Growing up, folks from Lagos will visit the village during Christmas with good clothing and few cash to burn the Christmas away. We the village boys will be thinking Lagos is eldorado. We quarreled with our parents to allow us travel to Lagos. After my waec, I traveled even against parents advise, got to Lagos and discovered those Lagos big boys were struggling extremely to feed, feeding that is free in the village, u can eat as long as I have stomach to store it. I immediately returned to the village and began seeing them just the way they are, no longer bother going to welcome them when they visit. I completed my school and they came again that all the job in this world is in Lagos and Abuja. I told myself if I can't make it in my village then no where else. I became a village champion. I stayed for about 6yrs waiting for the right job. While hustling the village hustle. In all, got myself a house while in the village but my Lagos and Abuja folks never got one. Luck met me in the village as my dreamed job came knocking and the rest is history. Today the Lagos and Abuja front are asking me for soft landing job so they relocate to that same village. Look around you, so much "dollars" in the streets of Nigeria just "bend down and pick" the right way. My family can leave, it's their choice to make but me, I go nowhere except for just a visit.

Barrytone:
Just watched an interview on CNN where a bar tender is complaining about 600 dollars given as unemployment benefits and that it's not enough. I did the exchange and I know you know better, a Nigerian bar tender doesn't get that but anyone getting over 200k naira in Nigeria should be among the average citizen and has no right to complain but build from there. I think even with 1k dollar life is still miserable over there but with 400k here, you are the boss. Before you leave your banking and other paying jobs to go attempt the hustle in the west just know it's either crime or luck I your portion. I don't work on luck.
Growing up, folks from Lagos will visit the village during Christmas with good clothing and few cash to burn the Christmas away. We the village boys will be thinking Lagos is eldorado. We quarreled with our parents to allow us travel to Lagos. After my waec, I traveled even against parents advise, got to Lagos and discovered those Lagos big boys were struggling extremely to feed, feeding that is free in the village, u can eat as long as I have stomach to store it. I immediately returned to the village and began seeing them just the way they are, no longer bother going to welcome them when they visit. I completed my school and they came again that all the job in this world is in Lagos and Abuja. I told myself if I can't make it in my village then no where else. I became a village champion. I stayed for about 6yrs waiting for the right job. While hustling the village hustle. In all, got myself a house while in the village but my Lagos and Abuja folks never got one. Luck met me in the village as my dreamed job came knocking and the rest is history. Today the Lagos and Abuja front are asking me for soft landing job so they relocate to that same village. Look around you, so much "dollars" in the streets of Nigeria just "bend down and pick" the right way. My family can leave, it's their choice to make but me, I go nowhere except for just a visit.

i really dont u ....no city in Nigeria produces more millionaire more than Lagos ....i have stayed in two must commercialize towns in Nigeria and i can tell u .....Lagos has bless more people more than any state in Nigeria .....but their are oppurntiies everwhere in Nigeria but no in the scale of Lagos ......the financial transaction that happens within alaba and trade fair axis might be =to the entire business Gdp of Ebony state ....

Barrytone:
Just watched an interview on CNN where a bar tender is complaining about 600 dollars given as unemployment benefits and that it's not enough. I did the exchange and I know you know better, a Nigerian bar tender doesn't get that but anyone getting over 200k naira in Nigeria should be among the average citizen and has no right to complain but build from there. I think even with 1k dollar life is still miserable over there but with 400k here, you are the boss. Before you leave your banking and other paying jobs to go attempt the hustle in the west just know it's either crime or luck I your portion. I don't work on luck.
Growing up, folks from Lagos will visit the village during Christmas with good clothing and few cash to burn the Christmas away. We the village boys will be thinking Lagos is eldorado. We quarreled with our parents to allow us travel to Lagos. After my waec, I traveled even against parents advise, got to Lagos and discovered those Lagos big boys were struggling extremely to feed, feeding that is free in the village, u can eat as long as I have stomach to store it. I immediately returned to the village and began seeing them just the way they are, no longer bother going to welcome them when they visit. I completed my school and they came again that all the job in this world is in Lagos and Abuja. I told myself if I can't make it in my village then no where else. I became a village champion. I stayed for about 6yrs waiting for the right job. While hustling the village hustle. In all, got myself a house while in the village but my Lagos and Abuja folks never got one. Luck met me in the village as my dreamed job came knocking and the rest is history. Today the Lagos and Abuja front are asking me for soft landing job so they relocate to that same village. Look around you, so much "dollars" in the streets of Nigeria just "bend down and pick" the right way. My family can leave, it's their choice to make but me, I go nowhere except for just a visit.

there are less oppurntiies in the village compare to the city ....meaning the probability of making it in higher in the city.....imagine psquare not moving to Lagos or dangote remaining in kano.....u get to learn new things ,challenges and success....this life....

If u have oppurnty explore new grounds ....dont wait for manna to fall on u in the village ...move to where thing are happing to increase the chances....if u want to work with federal govt then work you way to abuja ...mingle with the right cliques.....if na bussiness go to kano ,lagos rivers ...and other urban area ..dont remain in villages unless u want to run a farm or your village is like oniru in lekki ....

Rabiu umar became the ceo of ashaka cement at 39 not by staying in his village ...he work his Nysc to Lagos ,served in unipetrol ,was retain by onando moved up ward to head of sales ,moved to larfage as director energy....appointed ..m.d of ashaka cement after the retirement of the french m.d.....now he group cheif commercial officer dangote group........this dont happen in villages .....please young investors learn to dream big ,aim high ,dont be scared of challenges....move to newyork move to london move to dublin ....work ,save and invest .....dont remain in an africa village ...na only witch craft stories ......come to the city get inspired ...

Barrytone:
Just watched an interview on CNN where a bar tender is complaining about 600 dollars given as unemployment benefits and that it's not enough. I did the exchange and I know you know better, a Nigerian bar tender doesn't get that but anyone getting over 200k naira in Nigeria should be among the average citizen and has no right to complain but build from there. I think even with 1k dollar life is still miserable over there but with 400k here, you are the boss. Before you leave your banking and other paying jobs to go attempt the hustle in the west just know it's either crime or luck I your portion. I don't work on luck.
Growing up, folks from Lagos will visit the village during Christmas with good clothing and few cash to burn the Christmas away. We the village boys will be thinking Lagos is eldorado. We quarreled with our parents to allow us travel to Lagos. After my waec, I traveled even against parents advise, got to Lagos and discovered those Lagos big boys were struggling extremely to feed, feeding that is free in the village, u can eat as long as I have stomach to store it. I immediately returned to the village and began seeing them just the way they are, no longer bother going to welcome them when they visit. I completed my school and they came again that all the job in this world is in Lagos and Abuja. I told myself if I can't make it in my village then no where else. I became a village champion. I stayed for about 6yrs waiting for the right job. While hustling the village hustle. In all, got myself a house while in the village but my Lagos and Abuja folks never got one. Luck met me in the village as my dreamed job came knocking and the rest is history. Today the Lagos and Abuja front are asking me for soft landing job so they relocate to that same village. Look around you, so much "dollars" in the streets of Nigeria just "bend down and pick" the right way. My family can leave, it's their choice to make but me, I go nowhere except for just a visit.

I am happy with you, God will continue to bless you.
My advice to the younger ones, don't try this. This cannot work again in Nigeria of today except you want to be a farmer or a councillor in the village. There are lots of opportunities in the cities. If I had remained in my village I would have been a primary or secondary school teacher or even a palmwine tapper. Pls go out of your convenience and you will succeed.

ahiboilandgas:
i really dont u ....no city in Nigeria produces more millionaire more than Lagos ....i have stayed in two must commercialize towns in Nigeria and i can tell u .....Lagos has bless more people more than any state in Nigeria .....but their are oppurntiies everwhere in Nigeria but no in the scale of Lagos ......the financial transaction that happens within alaba and trade fair axis might be =to the entire business Gdp of Ebony state ....

I am an Ebonyian.

Do you know how many Rice Millionaires that were created for the past 2 years in Ebonyi. You should know this as a seasoned entrepreneur.
Opportunities are everywhere. Presently,I'm even thinking of establishing a rice mill,I just needed to stabilize my transport business first,then I can raise fund and diversify into that sector. I can authoritatively tell you that sector is a goldmine.what is presently holding me is fund. Once I attain my target in my current business,I will diversify and key into that. And so many opportunities that are yet untapped.

You are very correct but Barrytone is also spot on. Lagos creates a different mentality in you but it comes with the pressure to show that you have arrived which is what Barry is talking about.
Many folks who go home during Xmas and show off save for it for most of the year, making the folks in those town feel envious.
It's different strokes for different folks.
Lagos may give to you but it will also collect from you. Some people just want a simple decent life. For some people, 3 million in their account is more than enough.

Lagos vs the rest of Nigeria argument be like Nigeria vs traveling abroad argument.

ahiboilandgas:
i really dont u ....no city in Nigeria produces more millionaire more than Lagos ....i have stayed in two must commercialize towns in Nigeria and i can tell u .....Lagos has bless more people more than any state in Nigeria .....but their are oppurntiies everwhere in Nigeria but no in the scale of Lagos ......the financial transaction that happens within alaba and trade fair axis might be =to the entire business Gdp of Ebony state ....

Lol...@primary school teacher. Teachers and farmers don suffer Sha, see them been used as reference in a derogatory way.

IamR:
I am happy with you, God will continue to bless you.
My advice to the younger ones, don't try this. This cannot work again in Nigeria of today except you want to be a farmer or a councillor in the village. There are lots of opportunities in the cities. If I had remained in my village I would have been a primary or secondary school teacher or even a palmwine tapper. Pls go out of your convenience and you will succeed.

Barrytone:
Just watched an interview on CNN where a bar tender is complaining about 600 dollars given as unemployment benefits and that it's not enough. I did the exchange and I know you know better, a Nigerian bar tender doesn't get that but anyone getting over 200k naira in Nigeria should be among the average citizen and has no right to complain but build from there. I think even with 1k dollar life is still miserable over there but with 400k here, you are the boss. Before you leave your banking and other paying jobs to go attempt the hustle in the west just know it's either crime or luck I your portion. I don't work on luck.
Growing up, folks from Lagos will visit the village during Christmas with good clothing and few cash to burn the Christmas away. We the village boys will be thinking Lagos is eldorado. We quarreled with our parents to allow us travel to Lagos. After my waec, I traveled even against parents advise, got to Lagos and discovered those Lagos big boys were struggling extremely to feed, feeding that is free in the village, u can eat as long as I have stomach to store it. I immediately returned to the village and began seeing them just the way they are, no longer bother going to welcome them when they visit. I completed my school and they came again that all the job in this world is in Lagos and Abuja. I told myself if I can't make it in my village then no where else. I became a village champion. I stayed for about 6yrs waiting for the right job. While hustling the village hustle. In all, got myself a house while in the village but my Lagos and Abuja folks never got one. Luck met me in the village as my dreamed job came knocking and the rest is history. Today the Lagos and Abuja front are asking me for soft landing job so they relocate to that same village. Look around you, so much "dollars" in the streets of Nigeria just "bend down and pick" the right way. My family can leave, it's their choice to make but me, I go nowhere except for just a visit.

u re right. dont mind those saying no,opportunity for village. u cant compare a village in certain states to villages in other areas. u cant compare a village in kano to a,village in anambra. so it all depends. in,my village for,anmabra there are many millionaires springing up on daily basis, even some billionaires have relocated back to d,village. just do what works for u, everyone aint same

IamR:
I am happy with you, God will continue to bless you.
My advice to the younger ones, don't try this. This cannot work again in Nigeria of today except you want to be a farmer or a councillor in the village. There are lots of opportunities in the cities. If I had remained in my village I would have been a primary or secondary school teacher or even a palmwine tapper. Pls go out of your convenience and you will succeed.

Lol.

He forgot to tell people that he's from Ákwá Ibom.

So he probably got a slot to work in one of the oil companies operating there.

Now, imagine someone like me, from a remote village in Ebonyi state. My options would be similar to yours. Either be a primary school teacher, secondary school teacher, palm wine tapper or Okada rider.

kisszhira:
I am an Ebonyian.

Do you know how many Rice Millionaires that were created for the past 2 years in Ebonyi. You should know this as a seasoned entrepreneur.
Opportunities are everywhere. Presently,I'm even thinking of establishing a rice mill,I just needed to stabilize my transport business first,then I can raise fund and diversify into that sector. I can authoritatively tell you that sector is a goldmine.what is presently holding me is fund. Once I attain my target in my current business,I will diversify and key into that. And so many opportunities that are yet untapped.

Lol. I'm in Ebonyi state as we speak. I know that you want to be a good ambassador of the state but let's say the truth. There is nothing like rice millionaires here. Those are mainly subsistence farmers.

pluto09:
The rate is not constant but I will give out the ones I have used this month.
FBN 391 , maximum of $500 per month.
Zenith 391, maximum of $530 per month
GTB. 390, maximum of. $500 per month
Stanbic 420, maximum of $1000 per month
Fcmb. 426.
Access, 445

Thanks a lot bro. Please quick clarification, what I want to do is transfer naira to my naira account then use the atm of the naira account to pay for the item... Hope I don't need to go open a dorm account with USD denominated atm card before I can pay for the item or spend up to this limit?

Grupo:
Lol.

He forgot to tell people that he's from Ákwá Ibom.

So he probably got a slot to work in one of the oil companies operating there.

Now, imagine someone like me, from a remote village in Ebonyi state. My options would be similar to yours. Either be a primary school teacher, secondary school teacher, palm wine tapper or Okada rider.

You see.

Or if you are very lucky, become an assistant lecturer. Lol.
However the truth is that many other states are just sleeping thereby putting a lot of strain on Lagos.

Grupo:
Lol.

He forgot to tell people that he's from Ákwá Ibom.

So he probably got a slot to work in one of the oil companies operating there.

Now, imagine someone like me, from a remote village in Ebonyi state. My options would be similar to yours. Either be a primary school teacher, secondary school teacher, palm wine tapper or Okada rider.

Grupo:
Lol.

He forgot to tell people that he's from Ákwá Ibom.

So he probably got a slot to work in one of the oil companies operating there.

Now, imagine someone like me, from a remote village in Ebonyi state. My options would be similar to yours. Either be a primary school teacher, secondary school teacher, palm wine tapper or Okada rider.

In other words, use your tongue to count your teeth.

OgogoroFreak:
I'm going to move my funds into it cos stanbic mmf rate is too low.

I'll be glad to have you on-board.

We are Fidelity, we keep our word.

tukopy:
I'll be glad to have you on-board.

We are Fidelity, we keep our word.

Like releasing annual report with a promise to pay 0.22 kobo dividend today and releasing another tomorrow indicating 0.11 and eventually paying that. "You are Fidelity, you keep your word"

LandMann:
Thanks a lot bro. Please quick clarification, what I want to do is transfer naira to my naira account then use the atm of the naira account to pay for the item... Hope I don't need to go open a dorm account with USD denominated atm card before I can pay for the item or spend up to this limit?

Your question has already been answered. You asked about using ATM card to do USD transaction and he gave you the rates not dorm account.

emmasoft:
For those who are investors in VGIF and prospective investors find attached the facts of the funds sheet for second quarter of 2020.

I sent a PM