NL1960:


I understand ke. It is Dangote sugar that i buy for my kids now when they are going back to school.

this Tbills crash pushed some of us to extend our risk tolerance level, am already on 100% profit for a crypto pair i buy at $9k and its around $28k now in just 2wks only. if tbill was still at 13% i wouldn’t have join crypto and nse

Wonderful news coming in from my bank. So happy for them. Best bank ever

https://nairametrics.com/2020/11/20/access-bank-plc-posts-n102-3-billion-profit-in-9m-2020-up-by-15-7-yoy/

Where are those that were boycotting them on twitter?


By the way, I advice everyone to follow up Stears Business ( www.stearsng.com ), the Nigerian version of The Economist and Bloomberg.

janga:
this Tbills crash pushed some of us to extend our risk tolerance level, am already on 100% profit for a crypto pair i buy at $9k and its around $28k now in just 2wks only. if tbill was still at 13% i wouldn’t have join crypto and nse

This should teach people that curbing naira circulation is a way to battle inflation.
Make una dey learn.
If tbills was still high,the money he now uses to speculate would be blocked in the CBN.
KNOW THIS!!!

kristien4:
Pls someone help me with the answer to this...on savings account that receive monthly interest, what is the maximum number of debit transactions allowed??

4.

Includes Airtime purchases!!

TransAtlanticEx:
This should teach people that curbing naira circulation is a way to battle inflation.
Make una dey learn.
If tbills was still high,the money he now uses to speculate would be blocked in the CBN.
KNOW THIS!!!

Nobody has said mopping up with high T-bills isn't a way of moderating inflation. IT IS!


What we're saying is, it's an expensive and unsustainable way.

As you have read from people's post on rice prices without customs restrictions, reopening the land borders will go a long way.

And like someone said-maishai I think that it's more effortless to grow rice in some places than here, maybe we'll have to settle with some level of imprtation maybe 60% importation, and set Target for reducing by 5% annually.

This should help moderate pressure.

Then 0.3% is probably now overly low, maybe 2-5% will be better.

awesomeJ:


Nobody has said mopping up with high T-bills isn't a way of moderating inflation. IT IS!


What we're saying is, it's an expensive and unsustainable way.

As you have read from people's post on rice prices without customs restrictions, reopening the land borders will go a long way.

And like someone said-maishai I think that it's more effortless to grow rice in some places than here, maybe we'll have to settle with some level of imprtation maybe 60% importation, and set Target for reducing by 5% annually.

This should help moderate pressure.

Then 0.3% is probably now overly low, maybe 2-5% will be better.

Did I ever say mopping up liquidity with high yield was sustainable?
Did I not say I will give high yield till dangote refinery starts working?doesn't that tell you I know its unsustainable?
Or you just want talk?
I also provided how you can eliminate all the free naira you gave investors to restore economic sanity and eliminate false riches.

TransAtlanticEx:
Did I ever say mopping up liquidity with high yield was sustainable?
Did I not say I will give high yield till dangote refinery starts working?doesn't that tell you I know its unsustainable?
Or you just want talk?
I also provided how you can eliminate all the free naira you gave investors to restore economic sanity and eliminate false riches.

Not when you start giving it in 2016, expecting the refinery to kick off in 2019, and then the 2019 changes to late 2020, and now 2020 becomes whoever knows when.

As it is now, Doing above 5% will be unnecessarily desperate. And you have to discount a lot of uncertainties off of Dangote refinery's impact.

awesomeJ:


Not when you start giving it in 2016, expecting the refinery to kick off in 2019, and then the 2019 changes to late 2020, and now 2020 becomes whoever knows when.

As it is now, Doing above 5% will be unnecessarily desperate. And you have to discount a lot of uncertainties off of Dangote refinery's impact.

Also,I won't stop tying down your money too till its starts operating because I have adequate mechanism to waste almost all of it when he starts working.
So you see,no love lost

janga:
this Tbills crash pushed some of us to extend our risk tolerance level, am already on 100% profit for a crypto pair i buy at $9k and its around $28k now in just 2wks only. if tbill was still at 13% i wouldn’t have join crypto and nse

Hehe... Money that comes easily likely goes easily...
Unrealised profit is no profit... Except you have the money sitting in your account as fiat or stable coins, it's not yours.
It's a crazy volatile market that trades 24/7...

There's a phrase in cryptoo trading which has helped me.. if you feel the need to share your profit margin, then it's time you take profit.

TransAtlanticEx:
Also,I won't stop tying down your money too till its starts operating because I have adequate mechanism to waste almost all of it when he starts working.
So you see,no love lost

I don't know how you run the maths o.

Put figures to this strategy of yours, let's see how it turns out, you end up with at least 1000 to a dollar.

Remember, it could just be 400bn of retail speculators money you're trying to mop, but when your t-bills go back up significantly, there'll be at least 10trn flooding in.

Your strategy will end up hurting way more.

Take a 10trn liquidity figure, and tell us how you can possibly avert dollar from reaching 1000 in 3 years if you keep mopping at 18%.

awesomeJ:


I don't know how you run the maths o.

Put figures to this strategy of yours, let's see how it turns out, you end up with at least 1000 to a dollar.

Remember, it could just be 400bn of retail speculators money you're trying to mop, but when your t-bills go back up significantly, there'll be at least 10trn flooding in.

Your strategy will end up hurting way more.

Take a 10trn liquidity figure, and tell us how you can possibly avert dollar from reaching 1000 in 3 years if you keep mopping at 18%.

True, it's like piling idle money on top of idle money.

The tb cut is actually a blessing in disguise and good for the economy because people have turned elsewhere.

awesomeJ:


I don't know how you run the maths o.

Put figures to this strategy of yours, let's see how it turns out, you end up with at least 1000 to a dollar.

Remember, it could just be 400bn of retail speculators money you're trying to mop, but when your t-bills go back up significantly, there'll be at least 10trn flooding in.

Your strategy will end up hurting way more.

Take a 10trn liquidity figure, and tell us how you can possibly avert dollar from reaching 1000 in 3 years if you keep mopping at 18%.

I am not emotional,I will be very glad if dollar can hit 1000 after dangote refinery starts working so that I can easily mop up that your 5 trillion.
It's all part of the agenda.
Then after that I defend the naira.
And my target isn't only retail,it includes institutional too.

TransAtlanticEx:
I am not emotional,I will be very glad if dollar can hit 1000 after dangote refinery starts working so that I can easily mop up that your 5 trillion.
It's all part of the agenda.
Then after that I defend the naira.
And my target isn't only retail,it includes institutional too.

So why not let it go to 1000 today?


The only way this strategy works is if in that 3 years' time, your economy will have become self sufficient in most consumer goods, and actually become a net exporter, otherwise 1000 to a dollar at that time will basically make you need 2m to buy Keke napep. 3.5m Camry today will become 8m dicscounting old stock.

With stagnating wages, and common items getting more and more out of reach, you'll be an pushing economic disaster.

And I don't think there's any economy in the world that priotizes its instutional investors.
The interest/living standards of the common citizen should be at the fore of monetary policies.

That's why CBN will rather reduce bank charges to protect citizens rather than increase them to help banking institutions.

Just to be clear. I am only expressing my opinion on the subject. Your ideas are not at all less significant.

janga:
this Tbills crash pushed some of us to extend our risk tolerance level, am already on 100% profit for a crypto pair i buy at $9k and its around $28k now in just 2wks only. if tbill was still at 13% i wouldn’t have join crypto and nse

This your analogy will put people into trouble, you don't test uncertainty with all your life savings.
I'm sure you didn't invest all you had then in crypto. At best you probably would have done 10% of your savings just to test the waters. My advice is that don't be too naive to be tempted to dump everything you have into crypto thinking it will continue to grow.
With the demise of TB, I alse venture into other high risk ventures but with an amount below 10% of my savings.
If kasala bust I have a backup to fall back to

ultron12345:
Wonderful news coming in from my bank. So happy for them. Best bank ever

https://nairametrics.com/2020/11/20/access-bank-plc-posts-n102-3-billion-profit-in-9m-2020-up-by-15-7-yoy/

Where are those that were boycotting them on twitter?


By the way, I advice everyone to follow up Stears Business ( www.stearsng.com ), the Nigerian version of The Economist and Bloomberg.

It is still early days for access to begin see the effect of the twitter campaign.
Haba, lekki shooting Happened on 20.10.2020 and you are already celebrating it has no effect on them. Access management themselves knows the power of youth and huge impact the social media campaign can have on their businesses, that is why they have been everywhere explaining their action to all that cares to listen.

ultron12345:
Wonderful news coming in from my bank. So happy for them. Best bank ever

https://nairametrics.com/2020/11/20/access-bank-plc-posts-n102-3-billion-profit-in-9m-2020-up-by-15-7-yoy/

Where are those that were boycotting them on twitter?


By the way, I advice everyone to follow up Stears Business ( www.stearsng.com ), the Nigerian version of The Economist and Bloomberg.

2% of bank customers control 98% of the banks deposits. They are not loud and won't boycott bank services through the social media.


The loud customers on social media control less than 2% of bank deposits

Opinion
An International Bank wants to borrow me N27. 5 million to repay over a period of 4 years (48 months) at 4 percent interest rate (N1.1 million interest only), I would like to know if this is a good offer considering the fact that they are giving me foreign currency and I will keep up repayments in foreign currency. Is this a good loan considering i would like to invest the money in Nigeria.

I do not have or know of any business that can generate sufficient income to service the loan so any business ideas is welcome too.

Thanks

jajeri3216:


True, it's like piling idle money on top of idle money.

The tb cut is actually a blessing in disguise and good for the economy because people have turned elsewhere.

Which elsewhere? Many have turned to ponzi and these agritechs springing up here and there, which of course don't have any real positive effect on the economy.

Grupo:


Which elsewhere? Many have turned to ponzi and these agritechs springing up here and there, which of course don't have any real positive effect on the economy.

Come to my groups, Nigerian's are trading bitcoin, us stocks like crazy.

Nairaland is not giving the full picture.

As for economy, i don't have a clue.

jajeri3216:


Come to my groups, Nigerian's are trading bitcoin, us stocks like crazy.

Nairaland is not giving the full picture.

So how's trading Bitcoin and US stocks boosting the local economy. Which was one of the reasons cbn had to lower rates.

Comeandcollect:
Opinion
An International Bank wants to borrow me N27. 5 million to repay over a period of 4 years (48 months) at 4 percent interest rate (N1.1 million interest only), I would like to know if this is a good offer considering the fact that they are giving me foreign currency and I will keep up repayments in foreign currency. Is this a good loan considering i would like to invest the money in Nigeria.

I do not have or know of any business that can generate sufficient income to service the loan so any business ideas is welcome too.

Thanks

It would have been good in the days of 182 day bills at 17%.
You'd just be buying t-bills and collecting interest to service the loan every 6 months.

But as with most business loans, you have to be sure of a venture that returns at least twice your finance cost ( that'll be interest + exchange rate differential in your own case)
for it to be worth your while.

4% is a good rate.

If you were in the US, it may be better to buy some healthy index Funds that you' LL cash in on buy Q1' 21. Because there's hope for more stimulus money that may push the market some 10,15%.

Comeandcollect:
Opinion
An International Bank wants to borrow me N27. 5 million to repay over a period of 4 years (48 months) at 4 percent interest rate (N1.1 million interest only), I would like to know if this is a good offer considering the fact that they are giving me foreign currency and I will keep up repayments in foreign currency. Is this a good loan considering i would like to invest the money in Nigeria.

I do not have or know of any business that can generate sufficient income to service the loan so any business ideas is welcome too.

Thanks

Are you making your income in forex? If yes you can go for it


Study and observe the banks, a lot of them hurriedly liquidated their forex debts some few months ago. Not quite long Naira after this, Naira was devalued

Grupo:


So how's trading Bitcoin and US stocks boosting the local economy. Which was one of the reasons cbn had to lower rates.

As for d economy at least less expensive rates to pay back .

One thing I know is that people are investing elsewhere and getting good returns.

I'm tired of the Nigerian economy talks, it's not like they listen to advise anyway.

Grupo:


So how's trading Bitcoin and US stocks boosting the local economy. Which was one of the reasons cbn had to lower rates.

You sef like trouble, just ignore

emmanuelewumi:



You see like trouble, just ignore

Why ignore?

This is why systems are better than people.

Your oga status is getting into your head.

You don't have monopoly of knowledge.

I wasn't even making any argument, just a random input.

In the line of the ensuing arguments, I am tempted to think that maybe ponzi actually help CBN mop up cash from the system even though it is not a deliberate policy. With lots of these cash trapped in these ponzi, CBN only needs to worry about the other cash not trapped there. lol

jajeri3216:


Why ignore?

This is why systems are better than people.

Your oga status is getting into your head.

You don't have monopoly of knowledge.

I wasn't even making any argument, just a random input.

I am sorry

If you observe me closely, I avoid endless arguments. Do what works for you

I wish you all the best

emmanuelewumi:



I am sorry

If you observe me closely, I avoid endless arguments. Do what works for you

I wish you all the best

Good for you, stop being passive aggressive then.

Let everyone express themselves however they see fit.

You never know what you could learn.

emmanuelewumi:



You see like trouble, just ignore

Hahaha. Okay sir.

Good Q3 performance by Access Bank and Zenith, I don't understand how these guys mint money in this economy especially during a pandemic

ojesymsym:
In the line of the ensuing arguments, I am tempted to think that maybe ponzi actually help CBN mop up cash from the system even though it is not a deliberate policy. With lots of these cash trapped in these ponzi, CBN only needs to worry about the other cash not trapped there. lol

Ponzi money doesn't disappear from the economy,it just move from one spender to the next,to the next,to the next and to the master conman who would want to move the funds out of the country.
So in essence,it helps depreciate the currency of the country as the master conman will want to move all that earned naira ashore,far away from EFCC reach.