₦airaland Forum

12inchess:
Would it beat devaluation and constant mismanagement.m by Nigerian govt this equities your talking about? Any investment that will domicile my money in Nigeria is waste of my time because Nigerian govt is not serious.

9jatriot:
One of the challenges of moving funds from one currency to invest in another currency is conversion loss which is clearly what I believe you have experienced here mostly as a result of devaluation. It is a well known danger of investing in a different economy from yours.

I wonder how FPIs are able to do it anyway.

12inchess:
I don't mean "scam" as in fraud or MMM. I mean "scam" as in not worth it for long term investment.

PS: If anyone here knows how I can get naira as dollars in U.S. Please let me know. Thanks.

Let me save myself from the next devaluation wave ooooo
.....

Donbrig:
Why is it taking so much time for nairaland moderators to block some people? Oga Seun Osewa, please spoil the rod and spare the child.
Our thought-provoking thread is under siege.

12inchess:
Nope that is not the case. I always had and had grown this money in Naira as the naira portfolio of my investment. I wouldn't even call it investment becasue I dont consider it an investment. I will call it savings because I'm often always just trying to beat inflation and of course now devaluation. My U.S funds are just in the bank just sitting there doing nothing and I'm okay with that. I'm not really losing money nor gaining money in U.S. But I've discovered that I am constantly losing value in Nigera. The money I make from the treasury bills neither counters inflation nor devaluation hence there is really no point keeping it there. Assuming I had kept this same money in dollars in 2019 doing nothing, I will be about 8k dollars richer than the returns I'm getting from treasury bills. So how is treasury bills a good investment when I'm constantly losing value. All the long talk emmasoft has posted there means nothing to me. I don't know of anyone that will keep a sum of money and watch it lose value and term it "money they don't mind losing" If I had that kind of money that "I don't mind losing" I'd simply throw it into the dustbin.

PS: Financial freedom for may be different from you. My number one goal is that the money I save AT LEAST keeps its value. I'm low risk and I'm okay with very little gain that can beat inflation but TBills in Nigeria time and again has shown that it doesn't beat devaluation.

The 2 exchange rates in Nigeria is another problem. I can't keep my money in such a country. I'd rather lose a lot on it now than even much more in the future and trust me, the time will come when the naira will be devalued again and it may be before the end of this year.

I repeat, TBills in Nigeria is a scam. It's even better to keep your money as bitcoin.

ibechris:
Did anyone force u to invest in Nigeria?
In as much our economy isn't rosy at this time,we can't kill ourselves but to continue to survive and find ways to preserve our money.

I am sure people like u made money when the going was good in TB and other investments and today,u can only condemn it because of ur appetite for more and nothing more. Oga, find a way as quickly as possible to take back ur money.
Note: na only u lose money abeg make we hear word jor. Scam Kor,scan ni. Greedy people every where.

ukay2:
There is so much housing deficit in Nigeria.

One just needs to get Good Rental Apartments and Good Tennants....your good to go

Lazyyouth4u:
The bolded is what the issue is. For that class of tenants (500k to 700k), you have to be very lucky to find tenants that can afford to keep paying rent year in, year out in this economy. No doubt, there is a shortage of affordable houses and demand is high but are there enough bankable tenants? I don’t think so. Many of these tenants will gather money and pay first one or two years just to move in. Na after that, person go come know the kind wahala wey he enter. At the end of the day, we all pray to be part of the lucky few like you that have decent tenants that continue to stay employed/thrive in their businesses in this economy.

4tunebest:
@faoogoke, it is all about strategy, adequate planning and learning from the mistakes of others to avoid repitition of same.

missjekyll:
This is embarrassing. Now if you just go to ikpe mmiri,hire a Barrow and carry yams,you would have more than enough.
Noone on this thread will drop a penny. You had 9 months to prepare. Welldone,sir

ahiboilandgas:
Cavet....dont work with my advice or suggestion or write ups ....

ukay2:
Look for potentials to pay subsequent rentals.....very important for me.

Thisnut:
i believe so too. The 6 apartments that i am currently working in benin city is all taken except the one i kept for myself. It's currently on the painting sage at the moment, even during the building stage a lot of people were coming to check it out. Location is the key and it's better to invest good money on a land. The building itself would be worthless if the land is cheap and under developed.

Thisnut:
isihor area just after uniben. Few blocks from benin/Lagos road

ahiboilandgas:
That the name of the cbn/Nirsil bank covid 19 facility at 9 percents with monitorium of 6 months and 5 percent till 2021 ...Max 10m no collateral....only bvn ...everthing is online at Nirsil bank site..u must attend 2 days trainings by the cbn designated centres and upload the certificate....Nb they buy the income generating assets for u ...i know 5 people that have gotten 1 poultry,resturant,photography and transporter.......no dullings.......advice borrow what u can handle....payments is like 156k per months for 7 years .....Good luck...

IamRichards:
And I should add this,I never imagined soliciting for help offline/online,but when you are among the furloughed staff with no pay since march,whatever you planned must surely crash.And yes,this is more embarassing than you can imagine.

hustla:
He's saying the truth though

mrkels:
You all should go and invest in the economy .

ibechris:
The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

ibechris:
The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

12inchess:
I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

12inchess:
I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

ibechris:
The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

hustla:
He's saying the truth though

pluto09:
Investing in dollar can be good and rewarding but you must get your strategy right.
This might not be the best time to switch to dollar.

12inchess:
I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

12inchess:
I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

XiaoLi:
I am just managing 5% in commercial paper and low rates in other investments while waiting for dollars to drop so that i can convert all my naira to dollars, I will never keep more than 10M in naira again once dollar drops and this is the last time i will be caught in naira devaluation, tbills, mmf, cp e.t.c in Nigeria doesn't worth it..once there is a devaluation you will lose all the gains and even some of your capital.