₦airaland Forum

But bros, u de here for long na, sometime around December or early this year, Ahib warn everybody to store up in USD especially as TB was becoming low and devaluation was believed to be inevitable.

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.

Obviously its a bit late now, if you have the mind buy in Black market now at N445/ $ or look for Nigerians in diaspora looking to send money home, most sell dollar at N420/ $, it will always be better than Naija black market, within a short period Naira Dollar will hit N500.


All those people on this thread saying sell your dollar so they can deceive you have succeded in benefiting from the last panic sale, most bought at N430 but now its shooting back up and will continue.

Phraences:
Please when is the right time o! When it was $380 - $400, people said it was not the right time, that CBN is making moves. That they will soon start selling dollars and the naira will rise. Later on they restricted forex for food and fertilizer. I don't know if that has helped. Exchange rate is still hovering around 445. Some people said when Dangote refinery is completed, the demand for dollar will reduce and naira will appreciate. That change is coming soon we should wait. But this country just seems to want to defy all economic indices. Who knows what the exchange rate will be like in 10years. I wish i had listened to the people preaching dollar savings when dollar was $360 and lesser.

Comeandcollect:
But you mentioned sometime ago you were able to beat the devaluation and buy $300k usd at N360/$. What really happened ?

Man weh dey lie all the time no dey know when e talk true...
My brother,19th september 2020...

Yes i did but that was just a chunk of my capital.

Comeandcollect:
But you mentioned sometime ago you were able to beat the devaluation and buy $300k usd at N360/$. What really happened ?

Yes i bought some usd then with my matured tbills, it escaped my mind to terminate other of my tbills and convert them to usd, now that single mistake is haunting me...

ojesymsym:
But bros, u de here for long na, sometime around December or early this year, Ahib warn everybody to store up in USD especially as TB was becoming low and devaluation was believed to be inevitable.

To your type everything is audio, better go back to your tomato selling.

TransAtlanticEx:
Man weh dey lie all the time no dey know when e talk true...
My brother,19th september 2020...

But I believe you guys keep making the mistake of thinking you can move money between two currencies easily. Apart from devaluation there are currency conversion loses. If you want to invest in naira, have a definite amount for that and then invest where you are.
Having money in naira and thinking of it in USD will only lead to heart ache.
The person who got his money in naira and invest in naira only has to worry about inflation and even the effect of that sef is over rated if you ask me.

XiaoLi:
Yes i bought some usd then with my matured tbills, it escaped my mind to terminate other of my tbills and convert them to usd, now that single mistake is haunting me...

ojesymsym:
But I believe you guys keep making the mistake of thinking you can move money between two currencies easily. Apart from devaluation there are currency loses. If you want to invest in naira, have a definite amount for that and then invest where you are.
Having money in naira and thinking of it in USD will only lead to heart ache.
The person who got his money in naira and invest in naira only has to worry about inflation and even the effect of that sef is over rated if you ask me.

If 1 naira was 1 dollar, nobody would really care. But when you earn in naira and save in naira, isn't the value of your savings in the real world affected every time the naira depreciates? Cos the naira depreciates in relation to another currency. Exam fees priced in dollars, imported products priced in dollars and anything originally priced in dollars, you need more naira to buy those things. The other day, someone mentioned that price of weavons she imports from China have now increased.

XiaoLi:
To your type everything is audio, better go back to your tomato selling.

The guilty are afraid.
When man don start to get the kind of money you call,he stops to shout and always want to remain unidentified.
Nwanne ikpatabe.
I have never denied selling tomatoes in the open in mile 3 market sha so I wonder why you seem to think this should be an insult.
Make i leave you,so that you can actually have the time to make the $300k you bought at CBN rates in your dreams a reality.
Udo nwanne.

If you earn in Naira and most of your transactions are in Naira, the impact is less. The impact is worse for someone who brings in $10,000 at N160 around 2014 and wants to repatriate 6 years later at N450. My point is that, there was no need to convert so much into naira in the first place if you do not have a strong need for it in naira.

Phraences:
If 1 naira was 1 dollar, nobody would really care. But when you earn in naira and save in naira, isn't the value of your savings in the real world affected every time the naira depreciates? Cos the naira depreciates in relation to another currency. Exam fees priced in dollars, imported products priced in dollars and anything originally priced in dollars, you need more naira to buy those things. The other day, someone mentioned that price of weavons she imports from China have now increased.

TransAtlanticEx:
The guilty are afraid.
When man don start to get the kind of money you call,he stops to shout and always want to remain unidentified.
Nwanne ikpatabe.
I have never denied selling tomatoes in the open in mile 3 market sha so I wonder why you seem to think this should be an insult.
Make i leave you,so that you can actually have the time to make the $300k you bought at CBN rates in your dreams a reality.
Udo nwanne.

Na envy go kill una, everything you say reeks of jealousy.

If a man says he has 300k , that is his own trouble.

Wetin concern you with how much people have .

Mr multiple personalities , aka abnormal human being aka lazy youth

Nigsrdumb:
Na envy go kill una, everything you say reeks of jealousy.

If a man says he has 300k , that is his own trouble.

Wetin concern you with how much people have .

Mr multiple personalities , aka abnormal human being aka lazy youth

My friend sharrap,Audio gang.
How can I be jealous of what is clearly nonexistent?

XiaoLi:
Yes i did but that was just a chunk of my capital.

Don’t see why you are too upset , you have hedged some or most of your funds ,you should count yourself lucky , what of those that dint change any , Just learn from this and know how to be better with the next crisis

For me apart from the hedging I did in $ and inputs much earlier in the year , I did a lot of plays in the stock market when it crashed March ending , just existed over the last 2 weeks with 35 to 55 % gain , beaten devaluation with those funds also ,also doing some plays in commercial properties . Wont indicate amounts involved in my plays , realized not many people can handle figures here . it’s not compulsory we all partake in economic downturn, recession or devaluation With proper planning . We learn everyday

TransAtlanticEx:
My friend sharrap,Audio gang.
How can I be jealous of what is clearly nonexistent?

I can bet your side hustle in real life is armed robbery after a failed tomatoe business.

People should be very weary of you and your intents here.

Everyone should be warned, this Congo guy is dangerous , potential armed robber looking for information.

Nigsrdumb:
I can bet your side hustle in real life is armed robbery after a failed tomatoe business.

People should be very weary of you and your intents here.

Everyone should be warned, this Congo guy is dangerous , potential armed robber looking for information.

I don't send people messages,I don't ask for investments or money or whatever,I don't seek relationships or friendship so tell me,how exactly do I plan on robbing you?
Abi na monopoly dollars I want come thief?
Not like you get money sef,weyrey.

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.

How can one invest in a commercial papers ?
Any help will be appreciated ....thanks

rmx:
Don’t see why you are too upset , you have hedged some or most of your funds ,you should count yourself lucky , what of those that dint change any , Just learn from this and know how to be better with the next crisis

For me apart from the hedging I did in $ and inputs much earlier in the year , I did a lot of plays in the stock market when it crashed March ending , just existed over the last 2 weeks with 35 to 55 % gain , beaten devaluation with those funds also ,also doing some plays in commercial properties . Wont indicate amounts involved in my plays , realized not many people can handle figures here . it’s not compulsory we all partake in economic downturn, recession or devaluation With proper planning . We learn everyday

Oga Ahib dey try, he is very current. Earlier this year, he mentioned zenith beign a good stock to buy at the price then. That provoked my intrest in d NSE. I liquidated my small Tbills, then split in 2, put one part in d 7 year sukuku bond and d other in the stock market. Zenith has appreciated with more than 38% since I bought it. Though, I am in d market presently as I believe there is still room for growth.

Hope you do not plan to liquidate that zenith anytime soon? In terms of EPS, I believe it is one of the cheapest stock. AFIPUD seems to be another.

ositadima1:
Oga Ahib dey try, he is very current. Earlier this year, he mentioned zenith beign a good stock to buy at the price then. That provoked my intrest in d NSE. I liquidated my small Tbills, then split in 2, put one part in d 7 year sukuku bond and d other in the stock market. Zenith has appreciated with more than 38% since I bought it. Though, I am in d market presently as I believe there is still room for growth.

ojesymsym:
Hope you do not plan to liquidate that zenith anytime soon? In terms of EPS, I believe it is one of the cheapest stock. AFIPUD seems to be another.

Not yet o, I am hoping for 200 to 300% growth in d next 2 years once exchange rate stabilize. Same happened in 2016, by 2018 it was over 300%. Plus, dividend is in d range of 16 to 20% if it maintains status quo. I am buying more, sef.

ositadima1:
Oga Ahib dey try, he is very current. Earlier this year, he mentioned zenith beign a good stock to buy at the price then. That provoked my intrest in d NSE. I liquidated my small Tbills, then split in 2, put one part in d 7 year sukuku bond and d other in the stock market. Zenith has appreciated with more than 38% since I bought it. Though, I am in d market presently as I believe there is still room for growth.

You try

Did about 38% with gtbank , 45% with zenith ,and 55 % with nestle minus dividend , lowest was dangote did about 30% inclusive of dividend with dangote . Sold all . Objective completed , not a stock person . Will be lurking on the sides for any future crash , maybe I will return to money market and there 4%, or investment one fd at 7% for now

ositadima1:
Oga Ahib dey try, he is very current. Earlier this year, he mentioned zenith beign a good stock to buy at the price then. That provoked my intrest in d NSE. I liquidated my small Tbills, then split in 2, put one part in d 7 year sukuku bond and d other in the stock market. Zenith has appreciated with more than 38% since I bought it. Though, I am in d market presently as I believe there is still room for growth.

Don't try it at home unless you are informed and knowledgeable about it

emmanuelewumi:
Don't try it at home unless you are informed and knowledgeable about it

I don't see any downsides here, I bought close to bottom. Zenith is a solid bank. If d dividend payout continues, and I believe it will, I recover my capital in 5 to 6 years. That is if I don't experience the 200 to 300% rise first.

ositadima1:
I don't see any downsides here, I bought close to bottom. Zenith is a solid bank. If d dividend payout continues, and I believe it will, I recover my capital in 5 to 6 years. That is if I don't experience the 200 to 300% rise first.

You are doing well. Zenith is my biggest holding

I was wondering myself why he said that, then I realized he probably wasn't talking to you but warning others that may just run off and move their money into the stock market without some form of financial education.

ositadima1:
I don't see any downsides here, I bought close to bottom. Zenith is a solid bank. If d dividend payout continues, and I believe it will, I recover my capital in 5 to 6 years. That is if I don't experience the 200 to 300% rise first.

ositadima1:
I don't see any downsides here, I bought close to bottom. Zenith is a solid bank. If d dividend payout continues, and I believe it will, I recover my capital in 5 to 6 years. That is if I don't experience the 200 to 300% rise first.

Newcomers!

IamR:
Newcomers!

Tabuse2024:
Most politicians have majority of their long term savings in foreign currency. I think I read here that Osinbajo declared pounds as cash assets. Even Dangote set up an office in USA recently specifically to preserve his investments.

Who knows? Maybe having assets in foreign currency is wiser given the state of the nation.

Over the next two to three years
This is the move I would be making

This country policy makers are all MAD

omakay:
Abeg, whoever created this thread should just rename it to 'QUARREL BILLS IN NIGERIA'.

So that interested persons that want to join would know what they are getting into.

At least we owe them that.

The thread descended to commotion really really quick

ojesymsym:
If you earn in Naira and most of your transactions are in Naira, the impact is less. The impact is worse for someone who brings in $10,000 at N160 around 2014 and wants to repatriate 6 years later at N450. My point is that, there was no need to convert so much into naira in the first place if you do not have a strong need for it in naira.

This is not true. Most things in Nigeria are priced relatively to dollar esp as Nigeria produces nothing except unrefined oil. If you want to buy a car now or a phone it cost because of the forex. If u want to go on a vacation won't u pay the equivalent of your air ticket in foreign currency?

Phraences:
If 1 naira was 1 dollar, nobody would really care. But when you earn in naira and save in naira, isn't the value of your savings in the real world affected every time the naira depreciates? Cos the naira depreciates in relation to another currency. Exam fees priced in dollars, imported products priced in dollars and anything originally priced in dollars, you need more naira to buy those things. The other day, someone mentioned that price of weavons she imports from China have now increased.

This is my concern. Why not just keep all my investment in dollars since naira has been cursed to always fall.

Thank you for responding to him, I will not say a word to him again..real jealousy is the problem of that guy..i know his type.

Nigsrdumb:
Na envy go kill una, everything you say reeks of jealousy.

If a man says he has 300k , that is his own trouble.

Wetin concern you with how much people have .

Mr multiple personalities , aka abnormal human being aka lazy youth