₦airaland Forum

aieromon:
SDF is MPR less 5%

11.5 - 5.0 = 6.5%

Re read the post you quoted.

The new corridor is +100/-700

SDF is currently 4.5%

awesomeJ:
I don't know who/what you meant to quote. There's nothing in my posts that disagrees with what you stated.

My post was an addendum to yours.

As some people believe that everyone that have access to dollars did so for speculation purposes.

TransAtlanticEx:
Unfortunately your patriotism can't make a difference because right now you are the only Nigerian that isn't cashing out on this naira collapse like you say.
So where would your patriotism lead you?
Why not make enough free money via speculation to raise enough money you don't need so as to engage in charity,like building free state of the art hospitals,etc...?
That way your patriotism will achieve more results,than taking your fx to go and dash CBN for their incompetence in the name of patriotism

Keeping prices stable will help more people than a few hospitals I may build.
Talk about 100m people versus 1000 people. It's a huge difference.

9jatriot:
Okay, but if you consider the unit cost per share at around 4.5 naira, that puts the dividends per unit share to be around 12%, do you think that is not still attractive enough?

Don’t mind me, I’m only bitter cos I was caught in the last bubble. The share was long purchased at a higher price.

awesomeJ:
Keeping prices stable will help more people than a few hospitals I may build.
Talk about 100m people versus 1000 people. It's a huge difference.

How do you plan to keep prices stable in an import dependent country of 200m+ people by selling $3m to CBN?
Don't this tell you you are engaging in a futile journey?
The right thing to do is join the saboteurs,weaken the naira and use proceeds for charity,else your patriotism will be round tripped to one aboki that will make all the profit.
Futile patriotism If you ask me.

Dum20:
My post was an addendum to yours.

As some people believe that everyone that have access to dollars did so for speculation purposes.

You shouldn't just assume that I have that stance now.

I have a dorm account myself.

Going by Transatlantic's suggestion on safes, you don't even need a dorm account to speculate now.

awesomeJ:
Re read the post you quoted.

The new corridor is +100/-700

SDF is currently 4.5%

Correct. Apologies for the mix-up

TransAtlanticEx:
How do you plan to keep prices stable in an import dependent country of 200m+ people by selling $3m to CBN?
Don't this tell you you are engaging in a futile journey?
The right thing to do is join the saboteurs,weaken the naira and use proceeds for charity,else your patriotism will be round tripped to one aboki that will make all the profit.
Futile patriotism If you ask me.

My efforts are not futile. I see the impact, it's why I continue in them. I didn't give up in 2016, it paid off, I won't give up now.

awesomeJ:
You shouldn't just assume that I have that stance now.

I have a dorm account myself.

Going by Transatlantic's suggestion on safes, you don't even need a dorm account to speculate now.

By addendum, i mean i was supporting your point.

People hold dollars for Eurobond, People earn dollars as income.

The response was to back up why you are doing what you are doing. You said it that you are not a speculators

Dum20:
By addendum, i mean i was supporting your point.

People hold dollars for Eurobond, People earn dollars as income.

The response was to back up why you are doing what you are doing. You said it that you are not a speculators

Sorry then.

It would have been easier to deduce if you quoted Transatlantic or any of the other speculating guys.

awesomeJ:
My efforts are not futile. I see the impact, it's why I continue in them. I didn't give up in 2016, it paid off, I won't give up now.

How did you "succeed" in 2016?
Were you the one that saved the naira in 2016 or the CBN?
I'm getting confused.

awesomeJ:
Sorry then.

It would have been easier to deduce if you quoted Transatlantic or any of the other speculating guys.

I'm not a speculator ooo,actually I'm a patriot too,just that I express my patriotism in uncommon ways and I get misunderstood most of the time by people.

TransAtlanticEx:
How did you "succeed" in 2016?
Were you the one that saved the naira in 2016 or the CBN?
I'm getting confused.

Every macro I didn't like, I prayed to order. I saw them in order. That's the success.

Oil at $27 topped $80 sometimes in 2018;

Inflation at over 17% moderated to about 11%

Dollar at 520 crashed to 360

Reserves at $23bn exceeded $45bn

Grarri at 1000 became 400.....

Please does anyone know if banks are selling PTA to travelers?

Reine22:
Please does anyone know if banks are selling PTA to travelers?

I got a mi from STANBIC earlier this month telling me to come buy. So I guess they are. I don't know the current cap though. It used to be $4000 per quarter.

awesomeJ:
Every macro I didn't like, I prayed to order. I saw them in order. That's the success.

Oil at $27 topped $80 sometimes in 2018;

Inflation at over 17% moderated to about 11%

Dollar at 520 crashed to 360

Reserves at $23bn exceeded $45bn

Grarri at 1000 became 400.....

I understand better now.

Oh okay, but when did you buy because the 52 week high is still 5.50, are you saying it was a lot higher than that before?
How you looked at their books, are they really a profitable firm as they seem to be very consistent in the payment of dividends?

Tochex101:
Don’t mind me, I’m only bitter cos I was caught in the last bubble. The share was long purchased at a higher price.

TransAtlanticEx:
Whoever was dumb enough to leave their fx at the bank is devoid of sense and my condolence.
Daft people deserve to be cheated in life,plain truth.
I said this a long time ago and some argued

Is Inflow included in the policy.

TransAtlanticEx:
How do you plan to keep prices stable in an import dependent country of 200m+ people by selling $3m to CBN?
Don't this tell you you are engaging in a futile journey?
The right thing to do is join the saboteurs,weaken the naira and use proceeds for charity,else your patriotism will be round tripped to one aboki that will make all the profit.
Futile patriotism If you ask me.

Logo, how do you see this exchange rate of a thing.

Do you think the Naira will go down against the dollar even if not to its former rate.

I wan change the small change wey dey my account keep am with me

AwesomeJ, I don't av a dorm account ooo..

But how do u guys invest in these things?
Honestly I need a good tip on how to invest at least btw the Range of 50k to 100k naira...

Pls what do u suggest I do and how can I do it??

omakay:
Me, i believe it is very possible to calculate how many blocks it will need to build a wall of any size/dimension up to 95% accuracy.

Everything get size and measurement.

Sure and it is not hard at all.
Done it for my last 3 projects with 98% accuracy.

Na arithmetic sef

omakay:
Me, i believe it is very possible to calculate how many blocks it will need to build a wall of any size/dimension up to 95% accuracy.

Everything get size and measurement.

Sure and it is not hard at all.
Done it for my last 3 projects with 98% accuracy.

Na arithmetic sef

There was a Nigerian forum that I use to know that is helpful in that regard but I have forgotten it's name.

Now I know how to do BOQ almost instinctively

Olaide1295:
Many news coming in today.

First, that CBN has reduced the MPR to 11.5% (from 12.5%). Immediate effect is that interest on Savings deposits falls to 1.15 per annum.

Second, that owners of dollars in DOM accounts can't do FX transfers again. They are now being compelled to sell to the bank.

Is this for all banks or only GTB, which is known for coming up with its own policies?
Any link to source?

Tochex101:
Paying 50kobo or 70kobo dividend.....I don’t find it attractive.

For a stock of about N4.50k, bought for N1.20k in 2013 and paid a dividend of 70k in 2019

Raalsalghul:
Logo, how do you see this exchange rate of a thing.

Do you think the Naira will go down against the dollar even if not to its former rate.

I wan change the small change wey dey my account keep am with me

If you have dollar to sell, I will be ready to buy above the rate that banks will offer .
We can strike a deal.

awesomeJ:
What exactly are you saying? Bleep up how?

I wasn't even talking to you now was I?

Well, i'll educate you.

I hold dollars that are lent to the FG as eurobonds. I don't need the fund. I have ample naira. I only need it to have some dollar earnings. It's serving its purpose.

I didn't buy it to speculate so I wasn't interested in selling even at 480 so what's your headache?

I like your patriotism. I used to be once upon a time.
If you've got dollars to sell, I can offer you a better rate than bank and will can meet to strike a deal.

People should stop spreading false information,
Saying all dom acc funds are to be converted to Naira at bank rate is NOT TRUE

There are multinationals who own dom accs in Nigeria and require forex to repatriate their funds, so they will be forced to take Naira to their countries where it isnt legal tender ?

All maturing Eurobonds go through dom accs so they will all be paid out in Naira too?
Verify your rumours before running to comment online.

Philantropists:
People should stop spreading false information,
Saying all dom acc funds are to be converted to Naira at bank rate is NOT TRUE

There are multinationals who own dom accs in Nigeria and require forex to repatriate their funds, so they will be forced to take Naira to their countries where it isnt legal tender ?

All maturing Eurobonds go through dom accs so they will all be paid out in Naira too?
Verify your rumours before running to comment online.

You have a point.

awesomeJ:
Well I think Agbaje's tenure will reach 10 years in 2021, maybe he's not ready to retire. But he can't be MD for longer than 10 years owing to CBN's restriction.

So what do you do?

I guess convert to a HoldCo like FBNH and STANBIC, then GTBANK becomes a subsidiary with it's own MD, and Agbaje can the climb up to become CEO of the parent HoldCo. They'll have the bank as well as a PFA, asset management firm etc as subsidiaries.

The reason for the conversion may be totally different from my opinion stated above, but the plan to convert has been announced.

He does not want to leave after the 10 years. So the best way round it is to convert GTB to a HoldCo and become the CEO of the HoldCo. I heard that he has long scrapped the DMD position which has always been the succession process of GTB. Sit tight syndrome has gotten hold of him.

Timekeeper:
AwesomeJ, I don't av a dorm account ooo..

But how do u guys invest in these things?
Honestly I need a good tip on how to invest at least btw the Range of 50k to 100k naira...

Pls what do u suggest I do and how can I do it??

You can check out my posts on dollar denominated investments.

Telsidelake:
You can check out my posts on dollar denominated investments.

Okay boss

NL1960:
He does not want to leave after the 10 years. So the best way round it is to convert GTB to a HoildCo and become the CEO of the HoldCo. I heard that he has long scrapped the DMD position which has always been the succession process of GTB. Sit tight syndrome has gotten hold of him.

My thoughts too.