₦airaland Forum

Corruption is what will keep killing everything in this country including the ngx. Every now and then they'll come on the news and be urging nigerians and local investors to take advantage o the NSE, but how will it work when the system cannot be trusted? The level of insider trading going on in the Nigerian stock exchange is alarming! All those who work there and in the quoted companies, are deeply involved in this!
Before a company's result comes out, they've already seen it, and the price have moved far even before it becomes public.
Highly demoralizing!!
It's a shame really.

Has access bank completed their recapitalisation.

Phlinx:
Be careful Morgan capital is having realtime feed issues. You will not be able to see what is happening in the market!

So which broker can we get realtime prices for now

PETERiCHY:
This exactly my 20yrs in NSE and by GOD'S grace some of us will turn 47ys this month. We started BUILDING our RETIREMENT BENEFITS since 2023, So no much strength for JIJO like my friend LOCO

Peter my man, very very funny guy
It only took time for some of us to understand you.
I vividly remember those years back on this forum when your jokes day cause quarrel.

Mpeace:
Bawa. I have had personal experience with this man. I remember when he was in Port Harcourt, just before he became head of EFCC. A matter I handled in court...
If I have to judge from that experience, then I will advise you not to take that book seriously.
Also remember all the uncleared allegations made against him with respect to disposal of seized properties.
Nigeria is corrupt, with or without subsidy.

Abeg help me tell am. The guy is just annoying.
Answer the simple question, e dey tell me make I go read book. People like this justify the the fact that Nigeria has not only leadership problem but most importantly followership problem. They've gotten used to swallowing all the sheet shoved down their throat, too dumb to question any.

KarlTom:
I'm not playing advocate here but we need to understand that these are painful changes that must be effected.
We can argue the mode of enactment but trying to vilify the government is not too good.

I recall many citizens also kicked against subsidy removal because "it was one of the benefits the masses get from the government".

This same subsidy almost ran the economy aground...

So what have you benefited from subsidy removal other than inflation which anyways is even still under reported

ositadima1:
Evaluating Each Strategy:

1. Be a Sole Proprietor; Register Your Business:

Effectiveness: Partially effective. Registering a business is standard. Sole proprietorships are taxed under Personal Income Tax (PIT), which can have different rates than Company Income Tax (CIT). The main point is that business profits are still the individual's income for tax purposes.

2. Borrow to Invest; Use Your Portfolio as Collateral:

Effectiveness: Works for the borrowed amount. You don't pay tax on the principal of a loan. Interest expenses on loans for business purposes can be tax-deductible. However, any income you generate from the investment made with the borrowed funds will be taxable. This strategy helps with the initial capital, but not the eventual profits.

3. Use Your Business to Cover Family's Day-to-Day Expenses & "Business Retreats":

Risk: Extremely High. This is a common red flag for FIRS. While legitimate business expenses (like actual travel for work or professional training) are deductible, claiming personal family expenses or extravagant "retreats" without clear, verifiable business purpose is very risky.

Tax Rule: Expenses must be "wholly, exclusively, necessarily, and reasonably incurred" for the business. Personal expenses typically don't meet this test. FIRS can disallow these deductions, leading to higher tax bills, penalties, and interest. Comparing it to how politicians' expenses are covered is not a valid legal argument for businesses.

4. Furnish Your Home & Office with Business Funds as a Director:

Risk: High. Similar to point 3, while office furnishings are business expenses, claiming personal home furnishings or excessive items without clear business justification is an aggressive move. FIRS will scrutinize the primary purpose of such acquisitions.

5. Offshore Accounts (e.g., Isle of Jersey) or Citizenship by Investment:

Risk: Complex and Under High Scrutiny.

Offshore Accounts: Owning offshore accounts isn't illegal, but Nigerian residents are taxed on their worldwide income. Income earned offshore must be declared to FIRS. Failing to declare it is tax evasion with severe penalties. Global efforts like the Common Reporting Standard (CRS) make it increasingly difficult to hide offshore assets and income.

Citizenship by Investment: Gaining a second citizenship offers benefits like easier travel. However, if its primary aim is to avoid Nigerian tax obligations on income tied to Nigeria, it could be seen as an aggressive avoidance scheme or even evasion if tax laws are broken. Nigeria has rules on tax residency, and a second passport doesn't automatically exempt you from Nigerian taxes if you are considered a resident. The mention of Panama highlights the intense global scrutiny on such arrangements.

6. Employ Family Members for "Non-Taxable Minimum Wage":

Risk: Potentially High Abuse. Employing family members in a legitimate business is fine, but the payments must be for actual work done and at market rates. If the "employment" is fake, or wages are disproportionate to work, FIRS can disallow deductions. While minimum wage earners may be exempt from PAYE (Personal Income Tax) if their total annual income is below a certain threshold (e.g., NGN 70,000/month), the business still needs to justify the expense as legitimate for its operations.

7. Hire a Company Accountant or Bookkeeper:

Effectiveness: ESSENTIAL. This is the only truly sound advice. Accurate and detailed record-keeping by a professional is crucial for defending any deductions and ensuring compliance. Without it, none of the other strategies can be substantiated.

8. Designate a Room in Your House as Your Business Address; Transfer All Domestic Bills to Business:

Effectiveness: Partially works (with strict limits) / High Risk of Abuse.

Home Office Deduction: Nigerian tax law allows for a portion of home expenses (like rent, utilities) to be deducted if a part of your home is genuinely and exclusively used as a business office. This is usually pro-rated (e.g., based on the percentage of space used).

"Transferring all domestic expenditures": This is where it gets problematic. Claiming all electricity, fuel for generators (which power the whole house), etc., without clear separation or pro-ration for actual business use, is an aggressive overclaim and likely illegal. FIRS will disallow the personal portion.

9. Directors Earn Zero Salary; Only "Non-Taxable Allowances" & Aim for Refunds:

Risk: Problematic and Misleading.

"Zero Salary, Non-Taxable Allowances": While some legitimate expense reimbursements are non-taxable, disguising significant payments as "non-taxable allowances" to avoid income tax is a common form of tax manipulation and will likely be challenged as an attempt to hide taxable income. Director's fees are generally taxable.

Refunds from Losses: You only pay tax on profit. If a business genuinely incurs more allowable expenses than income, it reports a loss, and no tax is due. However, if these "losses" are created artificially by claiming personal expenses as business deductions, FIRS will re-assess, disallow the improper deductions, and then tax, along with penalties, will be due. Aiming for consistent annual refunds in such a scenario would trigger deep audits.

10. Year 1: Capital Loss; Year 2: VAT Refunds... "Undertaker Buried":

Risk: Aggressive and Misleading.

Capital Loss: Businesses can genuinely incur capital losses. However, engineering a "capital loss" for tax purposes without a genuine economic reason (or by misclassifying expenses) is a red flag.

VAT Refunds: Businesses can claim back input VAT (paid on purchases) if it exceeds output VAT (charged on sales). This is a standard process if a business is genuinely VAT registered and has legitimate transactions. However, presenting this as a general strategy to "bury" the tax system suggests pushing the boundaries beyond legitimate VAT mechanisms.

If you use this same energy used in typing all these in abid to pressure struggling and poor citizens, to force our politicians to stop embezzling public funds first, I think you would not need to convince citizens to pay tax.
Talk of putting the cart before the horse.
Except you're somehow directly or indirectly benefiting from the ongoing rip-off

If you use this same energy used in typing all these in abid to pressure struggling and poor citizens, to force our politicians to stop embezzling public funds first, I think you would not need to convince citizens to pay tax.
Talk of putting the cart before the horse.
Except you're somehow directly or indirectly benefiting from the ongoing rip-off

Pls where can I get a very good rewire to check my car for parasitic drain. I was driving my car and parked to ease myself. After that, When I tried restarting the car it refused to start. But the dashboard screen light on the driver's side would come on.
The red battery icon light was showing steady. I called my mechanic and he said the alternator is faulty and not charging the battery. We changed alternator and the battery light disappeared and the car started.

After a few days, one morning I dove to work, parked it. After close of work wanted to drive home and it refused to start, called a battery charger, he said battery was down we jump started the car, I got home, parked, then the following day car refuses to start. Called my mechanic he said could be the battery is bad or a drain on the battery while car is parked.
But I also noticed that if I restarted the car 5 minutes after parking, it would start except when left for long hours before restarting.

What could be the problem.
Secondly I have heard of how rewire guys turn simple electrical faults onto complex ones, so, I am scared.
If it's a parasitic drain is it a simple problem that the average rewire guy can handle?

Finally if I am to get a new battery what best brands should I go for

Locotrader:
How did you arrive at 4%?
Simplify it

I mean approximately 2% for buy and 2% for sale. Each 2% includes Sec, vat, stamp duty & cscs in addition to brokerage fees.

So in the light of these how does atlas compare?

awesomeJ:
Yes.
Buy at 0.4%
Sell at 0.6%

Thanks to Loco, I would never have known.

Pls does this include cscs fees and other charges or it's just their own fees excluding
Cscs.
For eg Morgan capital total fees for buy & sell is 4%

awesomeJ:
@Locotrader,
Thanks again for your recommendation of Atlas.

I had my first session with them today and it was 56:44 56% of my trades through them, 44 through MCSE, Even though the bulk of my fund is still with MCSE.

APEL, while their fees are right, trying to do active trading on their platform is perhaps harder than getting Nigeria to become debt free 😁 or maybe just as hard.

Is atlas real time trading and what are their total charges for buy and sell

Pls I want to sell my Treasury bills I bought on the secondary market with stanbic secondary market. I've only stayed for 1 month but the total duration was supposed to be for 5 months. I need to redeem the money for an urgent need.

Pls are there going to be any deductions from my money and pls at what rate.
I'll appreciate anyone with info or past experience on this

Pls are there currently any headwinds on dangsugar that should make one exercise caution? Thinking of going into it.
Secondly is it too late to enter NB or waiting for a pull back is better.

Pls are there currently any headwinds on dangsugar that should make one exercise caution? Thinking of going into it.
Secondly is it too late to enter NB or waiting for a pull back is better.

Good day bosses in the house, pls how do how access and apply for t-bills on the secondary secondary market using the stanbic online platform

Care4:
Pls are they still a good broker with pocket friendly charges. YES
Do they still offer real time self trading platform? YES
Or is there any other better platform that seamlessly offered the above features? Not likely. Morgan is still the leader.

Thanks for the heads-up

Dear fellow veteran investors, pls,
I left Nigerian stocks few years ago. Traded with Morgan capital.
Pls are they still a good broker with pocket friendly charges.
Do they still offer real time self trading platform?
Or is there any other better platform that seamlessly offered the above features?

dollarnaira:
What spec do you need?
Few Jinkos still available.

I opted for fouani because they came highly recommended, so
How do I guarantee the quality of these panels

So, apart from fouani, is there any other place where one can get original jinko panels.
Fouani is out of stock for the cost effective specs of jinko panels I would have love to get

I also noticed that the actual power output of most panels are actually below their stated power ratings.
Is this standard practice or is that of jinko panel different?
Also what do you guys think of the quality of powmr lifepo4 battery compared to other reputable brands

HeavenlyBang:
LifePO4 - Valto and isangjohnson are builders, and Sako has excellent models that are cheap too

MPPT - Growatt, Deye, SRNE

Solar panel - Jinko ordered from Fouani is your best option by a distance

Is sako a builder too?
And how reliable are those of valto and islangjohnson

Bosses in the house, thanks for the inputs so far.
I wish to install solar system as I am tired of estimated billing rip off.
Please help suggest 2 or 3 best brands for each of these solar equipments

Lifepo4 battery
Hybrid mppt Inverter
Solar Panel

As many inputs as possible will be highly appreciated, to help streamline my decision

Locum Pharmacist Urgently needed
Location: bucknor, isheri oshun road, Lagos
Salary: very attractive
Contact: 0 812,56, 898, 60

Raphsays:
@op

I feel your pain, and it’s understandable to feel hurt and frustrated when people you helped in the past seem unresponsive or ungrateful now that they’ve achieved success.
Life can sometimes feel unfair, but I want to remind you of a few things:

1. Your Heart and Efforts Matter
You’ve been a good person—helping others win bets, sharing your winnings, and supporting friends during school.
Those actions speak to your kind and giving heart. Even if people don’t reciprocate, your generosity was never wasted.
What you sow in life often comes back, even if it’s not through those same people.

2. People Change
Sometimes success changes people, or they may have their own insecurities or reasons for not reaching out. It doesn’t necessarily mean they’re against you or don’t value what you did—it could just be their own way of dealing with life now.

3. Your Time is Coming
That vow you made? Hold onto it as a declaration of faith, not bitterness. Keep working, learning, and putting yourself out there. Surround yourself with people who will uplift and encourage you. Your breakthrough may be closer than you think.

4. Stay Focused on Growth
Instead of waiting for those who ignored you, look for opportunities around you. Network, learn new skills, and remain open to ideas from unexpected sources. Sometimes blessings come from strangers, not the people we expect.

5. Let Go of Resentment
Bitterness can hold you back. Release any anger or disappointment you feel toward these people. Your success will be sweeter if it’s fueled by hope and determination, not vengeance or pain.

You have the fire and determination to succeed. Keep pushing and believing.
Your story isn’t over yet; it’s just building up to a powerful chapter.

Kai, na human being you be!

Crypto trading shares similarities with gambling, but it's not entirely accurate to categorize it as such. Here's a nuanced view:

*Similarities with gambling:*

1. Volatility: Cryptocurrency prices can fluctuate rapidly, creating uncertainty.
2. Risk: Trading cryptocurrencies carries inherent risk, including potential losses.
3. Speculation: Some traders engage in speculative behavior, hoping for quick profits.
4. Emotional involvement: Fear, greed, and emotional decision-making can occur.

*Differences from gambling:*

1. Market dynamics: Cryptocurrency prices are influenced by supply and demand, adoption rates, regulatory changes, and global events.
2. Fundamental analysis: Traders can analyze blockchain technology, project fundamentals, and market trends to inform decisions.
3. Investment potential: Cryptocurrencies have potential for long-term growth and adoption.
4. Regulatory environment: Cryptocurrency markets are increasingly regulated, providing some protection for traders.

*Why crypto trading is not entirely gambling:*

1. Emerging asset class: Cryptocurrencies represent a new asset class, distinct from traditional currencies.
2. Decentralized nature: Blockchain technology enables decentralized, peer-to-peer transactions.
3. Growing infrastructure: Cryptocurrency exchanges, wallets, and payment systems are maturing.
4. Mainstream adoption: Cryptocurrencies are increasingly accepted by institutions, businesses, and governments.

*Why crypto trading can be considered gambling-like:*

1. Lack of education: Uninformed traders may rely on luck rather than research.
2. Over-leveraging: Traders may take excessive risks, amplifying potential losses.
3. Market manipulation: Pump-and-dump schemes, wash trading, and other manipulative practices exist.
4. Emotional trading: Fear, greed, and emotional decision-making can dominate.

*Best practices to avoid gambling-like behavior:*

1. Educate yourself on blockchain technology, cryptocurrency fundamentals, and market analysis.
2. Set realistic goals and risk tolerance.
3. Develop a trading plan and stick to it.
4. Monitor and adjust your emotions.
5. Diversify your portfolio.
6. Use proper risk-reward ratios.

Crypto trading carries risks, but it's not entirely gambling. Approach it with education, caution, and a long-term perspective to minimize risks and maximize potential rewards.

#Copied

GRACEGLORY:
Thanks for your take, boss. Your wisdom is that of angels.

Here's my perspective...

One look at the dictionary will tell you that investing and gambling are, at their core, startlingly different, hence, the English dictionary differentiates them. Only that, there are many investors who behave far more like gamblers, especially when it comes to the expectation of profit with associated risk.

According to the Oxford dictionary, a gambler is “a fraudulent gamer who habitually plays for money, especially high stakes.

An investor, on the other hand, is defined as “a person who commits capital to a business endeavour for positive returns

An investor puts money into what he percieves as assets, a gambler put money into what he percieve as chance. In futures, you have no asset nor can you HODL, you have nothing except chance. It's not the same in spot where you have an asset, tangible asset. 


In a spot market, you own the asset you buy. Spot trading involves buying or selling a financial instrument, commodity, or foreign currency for immediate delivery. For example, a spot trader might buy cryptocurrency at a specific time and sell it when the price increases. 

In a futures contract, you don't own the asset you're gambling. 

Trading or investment involves owning a commodity, gambling involves putting money on chance, no commodity, no asset, no nothing...

It’s essential for all of us to realize how easy it is to gamble under the pretext of investing.



Edited

Life isn't a gamble, for us in our kingdom... We have an expected end. Please, we must ensure we don't give our life to chance/gamble.



I AM NOT A GAMBLER!!! 

Your perspective is nice.
But your expected outcome is not 100% assured. You don't get to decide which of your investment turns out profitable, neither can you tell which must lead to a loss so as to completely avoid it.
Thus at the end it still ends up a probility.
That's why as a good technical analyst which you are, you always make use of the word "MAY" while forecasting.

Life itself is a gamble. Cos no one knows or can completely foretell their fate the next minute.
It's all a game of chance/probabilities.

We only try to avoid unnecessary risks and pray for success

freeman67:
Your capital is credited to your account when due.

Thanks

Pls how does t-bills settlement work on the secondary market? Will I need to sell it off or my capital will just be credited in my account on the due date.

Pls when is the next t-bills auction

youngestland:
you collect your interest upfront now. No fears for your capital naa

So what were the bonds guys complaining of, is it interest or capital?