So I was with a few friends lately and we where all discussing about investments and I noticed those who are based in Nigeria mostly spoke of very low yielding investments like fixed deposits, one even left millions of naira in a savings account for 1-2% interest rate.

I understand being averse to risk but fixed deposits and having huge sums are simply making the bank richer at your expense.

I don’t know if it’s financial illiteracy or just plain old laziness. Making sound investment decisions isn’t magic, sometimes all you need to do is just watch the news and you will know what to do.

In the early days of the coronavirus pandemic in March, I bought 5 Amazon stock on eToro for $1820 each totaling just over $9000, I sold them last Thursday when Amazon stocks was at $3400, I turned $9000 into $17000 in 6 months.

I didn’t have a dream beforehand where I saw that Amazon stocks where going to blow up, but knowing there was a lockdown due to the virus, customers wouldn’t be able to go to physical stores for their needs, they have to turn to online stores, Amazon being the biggest in the US, they are where customers will turn to. Simple logic.

Conclusion is my people stay woke, bankers are getting rich with your money, why not be making that money by yourself. I saw in the news yesterday that top executives in Nigerian banks made 2.3 billion naira in interim dividends for the last fiscal year. It is your money you’re just keeping in the bank doing nothing that they trade with and get rich off. Take charge of your investments, watch news channels like Bloomberg tv and always keep yourself informed with happenings in the world of finance.

Hmm

BlueOrange:
Hmm

Don't make them come for you. I had previously spoken about this on the forum on why Hugh profile business persons should consider prod u ti, factories, etc I was tagged scammer and that anything above 2% TB returns was too good to be true and tagged a thief. Don't make them come for you


And good one with the Amazon investment. We heard the news and watch events with Amazons rising financials. Smart move I must say

How will someone be fine with 2% on anything for heavens sake. Bankers too won’t tell them they could do way better

Tejuri:


How will someone be fine with 2% on anything for heavens sake. Bankers too won’t tell them they could do way better

Tik

"Show me your friends and I'll tell you who you are"

"If you want to be rich, find rich friends"

"Na condition make crayfish bend"

Most Nigerians mingle with people who see opening shawarma spots as "solid" investments, what then do you expect from people like that?

People who have lived abroad where financial literacy is what will keep you in a 25,000sq.f mansion or living on the street will definitely absorb some of that investing intelligence to apply to their own lives.

However, even investing in some Nigerian companies is not worth it, mismanagement is our middle name. And the companies that manage to turn a profit are very few.

JBiden:
"Show me your friends and I'll tell you who you are"

"If you want to be rich, find rich friends"

"Na condition make crayfish bend"

Most Nigerians mingle with people who see opening shawarma spots as "solid" investments, what then do you expect from people like that?

People who have lived abroad where financial literacy is what will keep you in a 25,000sq.f mansion or living on the street will definitely absorb some of that investing intelligence to apply to their own lives.

However, even investing in some Nigerian companies is not worth it, mismanagement is our middle name. And the companies that manage to turn a profit are very few.

Gbam. Overall, financial intelligence seems to be the core of the issue

Tejuri:
So I was with a few friends lately and we where all discussing about investments and I noticed those who are based in Nigeria mostly spoke of very low yielding investments like fixed deposits, one even left millions of naira in a savings account for 1-2% interest rate.

I understand being averse to risk but fixed deposits and having huge sums are simply making the bank richer at your expense.

I don’t know if it’s financial illiteracy or just plain old laziness. Making sound investment decisions isn’t magic, sometimes all you need to do is just watch the news and you will know what to do.

In the early days of the coronavirus pandemic in March, I bought 5 Amazon stock on eToro for $1820 each totaling just over $9000, I sold them last Thursday when Amazon stocks was at $3400, I turned $9000 into $17000 in 6 months.

I didn’t have a dream beforehand where I saw that Amazon stocks where going to blow up, but knowing there was a lockdown due to the virus, customers wouldn’t be able to go to physical stores for their needs, they have to turn to online stores, Amazon being the biggest in the US, they are where customers will turn to. Simple logic.

Conclusion is my people stay woke, bankers are getting rich with your money, why not be making that money by yourself. I saw in the news yesterday that top executives in Nigerian banks made 2.3 billion naira in interim dividends for the last fiscal year. It is your money you’re just keeping in the bank doing nothing that they trade with and get rich off. Take charge of your investments, watch news channels like Bloomberg tv and always keep yourself informed with happenings in the world of finance.

I do not know what your home based friends do to get the One million naira. If he is a 9-5 abi 8-4 whichever you choose to call it and does not have time to monitor any investment, his best bet will to put his money where even if he doesn't gain he would not loose all.

Investment is good if one can devote time to study and understand it. Then, you will have at least some level of certainly. There are risk takers and risk averse investors. Your home based friends seem not to want to take the risk for the reason best known to them.

Mind you the CEO's and top bankers that earn such dividend from the banks are heavily invested there. They do not just earn it because they have their savings there. If there were to be staff without any stake, their only entitled would have been their salaries, allowances and other pecks the office have to offer. Dividend are for share holders and all the shareholders will get their share of dividend depending on the amount of share they hold with the bank. Even if you have a separate business or investment, so long as you transact through them they will make money.

BlueOrange:
Hmm

Don't make them come for you. I had previously spoken about this on the forum on why Hugh profile business persons should consider prod u ti, factories, etc I was tagged scammer and that anything above 2% TB returns was too good to be true and tagged a thief. Don't make them come for you


And good one with the Amazon investment. We heard the news and watch events with Amazons rising financials. Smart move I must say

Nobody is coming for anybody. I believe people will do whatever they like with their money. If an investment idea proposed does not sit well with them and they choose to go with what they understand it shouldn't be a bother to anyone.

freeman67:


Nobody is coming for anybody. I believe people will do whatever they like with their money. If an investment idea proposed does not sit well with them and they choose to go with what they understand it shouldn't be a bother to anyone.

Okay Sir. Just having a discussion with the Op Sir

Thanks

Hmmm. It's not as easy as you put it.

GBAM! You said it all

freeman67:


I do not know what your home based friends do to get the One million naira. If he is a 9-5 abi 8-4 whichever you choose to call it and does not have time to monitor any investment, his best bet will to put his money where even if he doesn't gain he would not loose all.

Investment is good if one can devote time to study and understand it. Then, you will have at least some level of certainly. There are risk takers and risk averse investors. Your home based friends seem not to want to take the risk for the reason best known to them.

Mind you the CEO's and top bankers that earn such dividend from the banks are heavily invested there. They do not just earn it because they have their savings there. If there were to be staff without any stake, their only entitled would have been their salaries, allowances and other pecks the office have to offer. Dividend are for share holders and all the shareholders will get their share of dividend depending on the amount of share they hold with the bank. Even if you have a separate business or investment, so long as you transact through them they will make money.

In the true sense of it there is nothing like if you don’t gain at least you’re not losing. The naira gets weaker and weaker with each passing day. 10 million in September 2018 isn’t the same with 10 million naira today.

As long as you are not day trading, we have very strong stocks in Nigeria that you definitely won’t lose money with if you are investing for the long term.

Tejuri:


In the true sense of it there is nothing like if you don’t gain at least you’re not losing. The naira gets weaker and weaker with each passing day. 10 million in September 2018 isn’t the same with 10 million naira today.

As long as you are not day trading, we have very strong stocks in Nigeria that you definitely won’t lose money with if you are investing for the long term.

Is is true very that the value of money kept and invested will depreciate in value. However, there is a saying that a bird at hand is worth money. By this I am saying that if you have been keeping a N1,000 note since it was produced, by now you will still have it. True that if it was invested it would have increased. Also true that what you could buy then you may not be able to buy again but you still have it.

Ask those guy that invest in all these funny get rich quick investment and ponzi's ; most recent MMM. I had some money in my liberty reserve account back then, one day I woke up and discovered my account was hacked. Mine was better than those that still had money when it crashed. All those monies are gone with the wind . The owner does not have anything left before we will talk about value depreciation.

That said, I am not saying people should not invest or seek to increase their wealth. I am only saying people should invest in what they know/understand and if they do not know much, it is better investing in what has already been tested to avoid stories that touch. Yes, that still does not mean people cannot take risk if they so wish but for the risk averse peace of mind and assurance of your savings being intact is key.

Tejuri:
So I was with a few friends lately and we where all discussing about investments and I noticed those who are based in Nigeria mostly spoke of very low yielding investments like fixed deposits, one even left millions of naira in a savings account for 1-2% interest rate.

I understand being averse to risk but fixed deposits and having huge sums are simply making the bank richer at your expense.

I don’t know if it’s financial illiteracy or just plain old laziness. Making sound investment decisions isn’t magic, sometimes all you need to do is just watch the news and you will know what to do.

In the early days of the coronavirus pandemic in March, I bought 5 Amazon stock on eToro for $1820 each totaling just over $9000, I sold them last Thursday when Amazon stocks was at $3400, I turned $9000 into $17000 in 6 months.

I didn’t have a dream beforehand where I saw that Amazon stocks where going to blow up, but knowing there was a lockdown due to the virus, customers wouldn’t be able to go to physical stores for their needs, they have to turn to online stores, Amazon being the biggest in the US, they are where customers will turn to. Simple logic.

Conclusion is my people stay woke, bankers are getting rich with your money, why not be making that money by yourself. I saw in the news yesterday that top executives in Nigerian banks made 2.3 billion naira in interim dividends for the last fiscal year. It is your money you’re just keeping in the bank doing nothing that they trade with and get rich off. Take charge of your investments, watch news channels like Bloomberg tv and always keep yourself informed with happenings in the world of finance.

Fear is what is limiting many. The fear of loosing. To be a good investor, you must replace fear with wisdom.

SoftBillionaire:

Fear is what is limiting many. The fear of loosing. To be a good investor, you must replace fear with wisdom.

You are wise


Let's have this thread pushed to front page as it would stimulate healthy interactions, debate and drive traffic to the forum. Mods come in here please


Lalasticlala

Mynd44

MrKnowItAll

Dominique

Mukina2

Tejuri:
So I was with a few friends lately and we where all discussing about investments and I noticed those who are based in Nigeria mostly spoke of very low yielding investments like fixed deposits, one even left millions of naira in a savings account for 1-2% interest rate.

I understand being averse to risk but fixed deposits and having huge sums are simply making the bank richer at your expense.

I don’t know if it’s financial illiteracy or just plain old laziness. Making sound investment decisions isn’t magic, sometimes all you need to do is just watch the news and you will know what to do.

In the early days of the coronavirus pandemic in March, I bought 5 Amazon stock on eToro for $1820 each totaling just over $9000, I sold them last Thursday when Amazon stocks was at $3400, I turned $9000 into $17000 in 6 months.

I didn’t have a dream beforehand where I saw that Amazon stocks where going to blow up, but knowing there was a lockdown due to the virus, customers wouldn’t be able to go to physical stores for their needs, they have to turn to online stores, Amazon being the biggest in the US, they are where customers will turn to. Simple logic.

Conclusion is my people stay woke, bankers are getting rich with your money, why not be making that money by yourself. I saw in the news yesterday that top executives in Nigerian banks made 2.3 billion naira in interim dividends for the last fiscal year. It is your money you’re just keeping in the bank doing nothing that they trade with and get rich off. Take charge of your investments, watch news channels like Bloomberg tv and always keep yourself informed with happenings in the world of finance.

I see that PayPal is not allowed for Nigeria on eToro.

Can you share how you registered on eToro?
Deposit / withdrawals, banks to use, etc

Thanks in anticipation.

freeman67:


Is is true very that the value of money kept and invested will depreciate in value. However, there is a saying that a bird at hand is worth money. By this I am saying that if you have been keeping a N1,000 note since it was produced, by now you will still have it. True that if it was invested it would have increased. Also true that what you could buy then you may not be able to buy again but you still have it.

Ask those guy that invest in all these funny get rich quick investment and ponzi's ; most recent MMM. I had some money in my liberty reserve account back then, one day I woke up and discovered my account was hacked. Mine was better than those that still had money when it crashed. All those monies are gone with the wind . The owner does not have anything left before we will talk about value depreciation.

That said, I am not saying people should not invest or seek to increase their wealth. I am only saying people should invest in what they know/understand and if they do not know much, it is better investing in what has already been tested to avoid stories that touch. Yes, that still does not mean people cannot take risk if they so wish but for the risk averse peace of mind and assurance of your savings being intact is key.

I understand the sentiment behind these thoughts. MMM and similar HYIP are a different thing entirely though.

Ignorance is the cause of the fear the average Nigerian has for investing, someone mentioned financial literacy earlier, thats only what can kill this fear caused by ignorance. A lot of people with money but just do not know what to do with it, pitch them an idea they think it’s another scam.

Luftwaffe:


I see that PayPal is not allowed for Nigeria on eToro.

Can you share how you registered on eToro?
Deposit / withdrawals, banks to use, etc

Thanks in anticipation.

Debit card from any bank, you only need to contact your bank to activate it for online payments. You can also use Skrill, Neteller if you have those.

BlueOrange:



You are wise


Let's have this thread pushed to front page as it would stimulate healthy interactions, debate and drive traffic to the forum. Mods come in here please


Lalasticlala

Mynd44

MrKnowItAll

Dominique

Mukina2

Front page tends to derail conversations with low quality contributions though.

Tejuri:

Front page tends to derail conversations with low quality contributions though.

TK

Tejuri:


I understand the sentiment behind these thoughts. MMM and similar HYIP are a different thing entirely though.

Ignorance is the cause of the fear the average Nigerian has for investing, someone mentioned financial literacy earlier, thats only what can kill this fear caused by ignorance. A lot of people with money but just do not know what to do with it, pitch them an idea they think it’s another scam.

No time

Tejuri:


Debit card from any bank, you only need to contact your bank to activate it for online payments. You can also use Skrill, Neteller if you have those.

Oh thanks. And will it still work the same way for withdrawals? If yes, will it be credited to me in Naira?

Hmmn I fully agree with the OP and most Contributors here
Nigerian Elites most times won't see investing in researches as a good thing to do,forgetting the fact that credibility started with several thesis before they became practically credible.
We're having many issues in Nigerian businesses today because nobody would play the saviour to fund researches that will sure bring back his investments in many fold s
So OP Rich Nigerian s are scared of failed investments,forgetting that life is a risk.
And only money can fund researches,failure is bond to happen before perfection is met.
Let me just pitch this here
In case you get to read this and you have a good amount of money stored up somewhere,there are credible investments I know of with pretty low risk factors,don't worry it's not the research one I was talking about.
Feel free to send me a mail only serious people though.
And about it being a scam,that shouldn't be a thing of worry,I'm way more reliable and have things to protect than to be a scam

BlueOrange:



I quit agree, but how many meaningful minds tend to resonate with the ideas you've put forward even here. The Treasury bills ballers are he'll bent on attacking anyone that suggests better investment options because of their fear of new territory. I've said my own. If they come for me, I'll deactivate.

Let them come. Tbills are for them who have no balls.

JBiden:


Let them come. Tbills are for them who have no balls.

BlueOrange:




I've taken close to 600 pages of well documented research around the country to elites and brilliant minds. They said it was just a decoration to scam them. Since then, I've seen the average regular elite as uneducated, mentally poor to reason intelligently andogically hence their strong hold on the familiar 1/2% territory


I don't have the resources, but I believe wisdom is higher and will hold on to it till one day life smiles on me, but as for our people here financial unintelligence is the core problem

When you develop an idea, you have to first of all believe in it. If you believe in your own idea, you will no wait untill total strangers come to invest in it. You have to first invest with all you have.

If all you have is not enough then you try to convince your family members and friends. If you or those categories of people do not believe in what you have to offer is it a total stranger that will want to come and invest his or hard earned money?

And for the records if you have a viable business run in a transparent manner. It's investors that will approach you to invest in it.

freeman67:



When you develop an idea, you have to first of all believe in it. If you believe in your own idea, you will no wait untill total strangers come to invest in it. You have to first invest with all you have.

If all you have is not enough then you try to convince your family members and friends. If you or those categories of people do not believe in what you have to offer is it a total stranger that will want to come and invest his or hard earned money?

And for the records of you have a viable business run in a transparent manner. It's investors that will approach you to invest in it.

Dude, Fvcking Get Lost You obsessed nitwit. Save your counsel for your younger ones. For now quit being obsessed with me and take the Left turn. I repeat keep being obsessed with me like your existence is wrapped around my truth. You gay




JBiden come and see them o

Tejuri:


I understand the sentiment behind these thoughts. MMM and similar HYIP are a different thing entirely though.

Ignorance is the cause of the fear the average Nigerian has for investing, someone mentioned financial literacy earlier, thats only what can kill this fear caused by ignorance. A lot of people with money but just do not know what to do with it, pitch them an idea they think it’s another scam.

Fear is good sometimes, it's serves as checks to greed and impulse investing without due diligence. Do you know countless number of people that lose their money here daily due to nicely packaged fake Forex trading with promises of high returns?

Like I keep saying, I have met someone here on Nairaland that we have been doing business transactions for up 6 years or so now. It started with just about N15,000 or so but today it has grown way beyond that. I have never set my eyes on him since then. I have only seen his face on WhatsApp since but we have been cool .

It's been happening that way because he was able to proof himself to me in my terms. Even at that I was the one that got in contact with him because he has what I was interested in not him chasing me around because he felt I had the money.

One can't really force people to release their funds you know. Even those scammed most times have to be convinced before they release it. Except politicians, yahoo boys or maybe thieves/armed robbers. Most people that have money to invest did something to get that money so the fact that they need a safe place to keep that does not mean they are no longer making money elsewhere.

The money they seek to invest most times is something to serve as backup to their current means of earnings.

BlueOrange:




Dude, Fvcking Get Lost You obsessed nitwit. Save your counsel for your younger ones. For now quit being obsessed with me and take the Left turn. I repeat keep being obsessed with me like your existence is wrapped around my truth. You gay




JBiden come and see them o

This is always their trade mark if they can't get you they start insulting....

If you claim you have ideas that you can't even invest in is it someone outside that will invest in that idea?

You never serious...

For the records, a thousand of you cannot deter me..

freeman67:


This is always their trade mark if they can't get you they start insulting....

If you claim you have ideas that you can't even invest in is it someone outside that will invest in that idea?

You never serious...

For the records, a thousand of you cannot deter me..

Yada Yada. Did I ask of anything from you?Why don't you get lost and quit the obsession. Full

BlueOrange:






Yada Yada. Did I ask of anything from you?Why don't you get lost and quit the obsession. Full

What did you say you are full of again? Scam I guess...

freeman67:



What did you say you are full of again? Scam I guess...

k