Happy New Year, bro.

Would be be kind to continue your thread on airline hacks?

JFT24:
Note: NO AIRLINE IS IMMUNE TO DELAYS OR FLIGHT CANCELLATION, INFACT IT'S PART OF THE OPERATIONS.

There are so many factors that can cause delay, some are avoidable while most are beyond the power of the airline operators. But, any reasonable delay should not exceed an hour.

So, when getting a ticket always put in mind the 1 hour delay,

JFT24:
Omoooo

I have monitored global events and I realise the UN and other international bodies are marking today Nov 20 as the World Children’s Day.

But I recall growing up that we’ve always celebrated Children’s Day on May 27.

What has changed?

Do you as a Nigerian believe in the global Children’s Day marked on November 20 or you’ll stick with May 27.

When is actually Children’s Day?

Which day do you recognise as Children’s Day - May 27 or Nov 20?

Over a month?

I withdrew a lump sum from my Dom account with FCMB barely two weeks ago. The process was seamless.

You might have to ask more questions.

Best!

LandMann:
Been unable to access my USD... Fcmb keep saying they don't have for over a month now. Is this even legal for them to not allow me withdraw my funds?

The Internet is a leveller. It breaks barriers and provides a level playing field for all regardless of your location, status or gender, et al. Your output is dependent on your input - thoughtfulness, resourcefulness and tenaciousness.

It’s pretty much the same way most of us won’t have known or met each other and share ideas without the power of the internet. Yet, some persons are only using their own access for social media rants.

You can make hundreds and millions of dollars from any part of the world via the internet.

Do you know how much some Indian and Pakistani programmers earn online? Skills and values make the difference.

I know tens of Nigerians who work remotely here in Nigeria and make a minimum of 1.5million per month.

About the blacklisting and restrictions, every entrepreneur must be a problem solver as such seek out alternatives to those barriers. We profit through problems and crises.

dake40:


I'm not confusing myself and i'm not advising people to bypass the restrictons. I'm just trying to let you know that there are always options..... I use MORENICHE and yes, they accept Nigerians. I'm trying to make you understand that YOU DONT NEED TO MOVE TO FIRST TIERS BEFORE YOU MAKE IT IN TECH . The fact that you are from First tier does not mean the companies you mentioned wont give you problems. The keword is

Testing and keep testing... Go over to BHW. Lots of Affiliate companies looking for people to promote their offers. If you have the the right auience, THERE ARE AWAYS AFFILIATE OFFERS/WEBSITES AVAILABLE on https://www.offervault.com/ Offers that WILL ACCEPT Nigerians

There are no limits bro if you know what you are doing And yes, Payoneer is better than Paypal for IM. If you a Nigerian IM. I shouldnt be telling you that.

Fantastic proposition.

It’s unfortunate that the housing deficit continues to grow despite available strategies and resources to tackle it.

I don tire sef! Thinking of Nigeria’s problems could be overwhelmingly depressing.

emmanuelewumi:



20 years and above FG bonds can be invested in massive housing that will cost between N3 millon to N5 million per housing unit.


There should be a mortgage financing scheme where workers who have a minimum of N1 million in their retirement savings accounts domiciled with Pension Fund Managers, can borrow against their contributions. Such loans should be liquidated in a maximum of 20 years.

So true...Direct management is always brutal.

But the default came even with an estate manager involved. The first and only meeting was facilitated by the manager.

The matter just tire me...But I know the law can handle it. I’ve read everything about eviction and consulted the manager.

emmanuelewumi:




I don't know why people make the mistake of dealing directly with their tenants.


Get a lawyer, a facility manager or an estate agent to deal with tenants and you will give yourself peace of mind.

Na wah ooo.

Poverty mentality don too limit our people so tey dem no fit come to terms with people decently making money in their early years and investing wisely.

ahiboilandgas:
na crazy people na so some group of women wanted for rent my house ,so they where calling me for days when i finally came ,they look suprised if i was the owner ..one idoit out of them said ...but u never suffer well well na ...so zucgerberg of face book fa Idoits the agent later point to the opposites house told tell that my resident ....my name turn to sir instantly ....them come dey as for discounts which i gave them.....how can u assume when u dont know my backgrounds or family ...the house was even built 10 years ago

Well noted, sir.

NSE is quite an interesting space with the right knowledge and discipline. Recently ventured in; made some gains, made some losses...Still learning but it’s been exciting.

US Stocks are also quite good...Helps with hedging, amongst other things.

ukay2:
Oga Tomtom370, I de fear the real sectors as you rightly highlighted

Na NSE and good FGN Securities other than NTB I meant by thinking outside the box of NTB.

Damn! How long did he refuse to pay before you took him to court?

I have a tenant like this. The first and only time he saw me, he said: “where did a young man like you saw money to buy and own this property?” I was like see question ooo.

From that moment, I knew he had the possibilities of undermining me. I simply handed him over to the estate manager, yet he’s refused to pay. He recently paid like 40% just before the lockdown.

Might take legal action against him after giving him two months post-lockdown grace.

Godbpraised:
Madam you own better, i have a tenant in Nigeria now, coz he knows i am in Canada the guy failed to pay his rent, i took him to court he has only paid half, the greatest mistake i made was to show up and meet him face to face. him don see me as small boy. Nigerians are just wonderful people, them think say na ground we dey pick money.

Nigeria’s economic stake-up is happening too fast.

I presume you’re not referring to “investing in the real sector” when you wrote about thinking outside of the box.

If it is, then, it’s too advisable to “think outside the box” in Nigeria. Doing business in Nigeria is hard. Preserving your money is harder. The system is naturally designed to fail people, businesses and systems.

Do you think most of the private entities investing in those financial instruments (TBills, Bonds, MMF) aren’t business-oriented or don’t want to make more money by investing in the “real sector”?

Investors would rather preserve their capital and accept a marginal interest than invest in an unpredictable market/business. This is one sentiment that’s been widely expressed here and elsewhere. Why?

Because the basics of running an effective, profitable and sustainable business in Nigeria are non-existent, making it harder for altruistic businesses without political or social affiliations to succeed.

Take out government, multinationals and big corporations spendings from our national earnings, what do we have left?

There’s no basis for the core engine of the economy MSMEs; no structure, system, support and modeling for them.

Do you know the number of businesses that fail even before they start (first three years)? How about those who die between the 3rd & 5th years and even before the 10th year?

You might also want to check up the numbers and processes of big corporations as well. It leaves much to be desired when fully comprehended.

ukay2:


Very unlikely to increase NTB rate from her countenance yesterday.

There is so much liquidity in the system chasing government securities.

FGN is even happy seeing oversubscription of their securities at the current ridiculous rates.

We need to think outside the box for now.

Cost of living, you mean?

Godbpraised:
Guy I tire men. No be small thing dollars go sky rocket . Standardof living go raise

It’s refreshing to read your analysis. It reflects some thoughtfulness.

You posed more questions than answers, howbeit, with clear justifications.

In all, every individual must take responsibility for his/her life.

Best wishes to all Nairalanders, Nigerians and Africans.

LordAdam16:


I'd leave that for the floor to answer.

Although I have my theories, I'd like to think there's just not one [good] answer to that question.



I believe this is a viable option. Perhaps the far more doable option. Essentially, the individuals would act like seeds and pillars in their respective microcosms. It'd not be without its caveats tho'. Including elitism, continuity, ego, and I'm just scratching the surface.

An alternative approach, would be a top-down sea change. It's how most enviable ethnicities built their cultures. But we'd be trying to cram millennia worth of change in only a few decades.

It'd also require the participation or at least support of all of the numerous branches of elites in most of the influential sub-nationalities. The problem is I don't know if we have it in us to be able to mobilize such an effort. There is simply no evidence, at this time, that we indeed possess the ability to conjure the level of strategic, long-term thinking, coordination, and troubleshooting necessary for that to happen.

And I don't mean the obvious ethnoreligious bad blood and distrust. That's surmountable. We've had about 10m deaths from such tussles since inception. That doesn't count as a crisis by Chinese, Indian, or Japanese standards (no one had smooth sailing). I mean how do we convince the absurdly myopic elites of all stripes we're saddled with--whether political, of the traditional institutions, intellectual (from academia), and what not--to commit to a cultural revamp with 20, 50, 100-yr objectives and timelines.

Again, this is why I said, I'd leave coming up with a way to engender a cultural shift to the floor to answer. Surely, someone has given this more thought than I am and have a fool-proof plan.

That said, the obstacles probably make it more realistic to imbibe what you can in your children; make it sort of a family tradition; and leave them as much lifeboats or rafts (most colloquially call this "connection" or "who you know" ) as you can. Some families in Nigeria have been able to accomplish this.

If it will be sustainable, generational, or *gasp* society-wide is up in the air until there's some cultural support system. Essentially, it's do your part and hope for the best. Sounds defeatist, but no one ever said realism has to be pretty.

-Lord

Quite an unfortunate demise.

But then, why did Punch Newspaper had to reveal the name of driver and number plate of his vehicle? Not sure that’s ethical and socially responsible.

Crownbefitsme:


https://punchng.com/car-crushes-man-making-video-call-to-girlfriend/?amp=1&__twitter_impression=true

Very apt!

The next question would be; how do we influence, perhaps, kickstart this culture?

LordAdam16:


It has to become a cultural thing for it to be pervasive enough to engender lasting change.

Confucius harped on saving. He was born in 551 BC. Saving is an integral part of the Chinese identity to this day.
Indians are infamous for being thrifty.
The Japanese are infamous for their discipline.
The Jews are infamous for being thrifty and creating wealth.
The Germans; well we call them "machines" for a reason.

All 5 ethnicities represent the best of humankind. And if anything catastrophic were to happen, it'd be a bad choice to bet against any of the 5 re-emerging to take a leading role in world affairs.

Teaching your kids the tenets of saving and investing is as important as giving birth to them; but we need a vast societal support system to make it not seem like a losing fight.

If you've ever attended a Bar Mitzvah or Bat Mitzvah or Chinese New Year gathering, you'd understand why.

It's one thing to create a piggy bank for your kid, it's a whole nother ball game for your entire community to drill the concepts of saving, compounding, investing, excellence, and discipline from the Synagogue or Shinto Shrine to the playground to successful relatives and relatives of friends and acquaintances and more.

Our culture is too consumerist. It's a consequence of a few things I wouldn't go into; but the worst part is we simply do not yet appear to have the ability to correct course.

-Lord

Influence is a major tool of behavioral and social reformation. The journey to this cultural/social shift has to start with individuals who will then influence those around them, especially, within the family space.

The sequence, I presume, will be: Personal - Family - Neighborhood - Network/Social Circle - National.

Trust me, this isn’t a 5-10 years goal.

ojesymsym:
You have a very strong point here, as long as it is not part of the norm in the society, it becomes an uphill task. Your own children bwoll end up revolting against you because everywhere outside they hear something different from what you are teaching them.

Wow! Thank God you’re better off now.

Quite sure everyone has an experience/story with suffering, though relative. Suffer pass suffer.

The main thing is not to forget to learn the most valuable lessons through every process.

ukay2:


Mmmmmm

Oga I suffered ooo

Infact I hear qwiiii no be small

Na God safe me oo

Lost parents long time ago at that affirmative age

I have to learn and hussles to take care of my education the hard way.

But God's grace and favour were bountiful to me till today.

You started pretty well with good home support.

A lot of people never had such exposure, experience or even motivation from the home or environment. Na school of hard knocks reshape us, though, it was almost too late to catch up.

Back in secondary school, I had a friend who would hustle and give his mum some money to save for him. Guess what, the mum was spending the money. When it was time for him to retrieve the money, story start. Invariably, that’s a point of discouragement to work, earn and save.

If everyone can learn to live within/below their means, no one will be a financial burden to another person.

ukay2:



I read the Richest Man in Babylon in JSS 3.....that was when I learnt the habit of savings and that changed my life for good. I save any small gift i was given, later tell my parents to help me invest them so that the money will grow. It was small, but the habit became of me.

Thank you for the kind words.

Interesting thoughts. But what spurs such saving/investing mentality in a child?

Environment, education and exposure are strong determinants of an individual’s greatness or otherwise.

Every child is often a product of the lessons learnt from his/her parent, home, school and all, that’s why kids who’re thought or perceived a culture of management/saving and investment from their parents will most likely follow suit, while those who grew up seeing their parents getting loans to finance parties and live outrageous life will mostly likely follow suit.

It’ll take an extra form of personal introspection and pursuit for the kids from the outrageous background to outgrow and change that pattern, if he ever gets to see the other side of that life.

So, yes everyone has got to be responsible for his or her own financial destiny, yet certain foundational traits trigger such instincts and idea in a child, primarily via the family.

9jatriot:
God bless you and your English teacher that taught you how to present your case in a clear and concise manner.

As for investment, I think it is first a mentality not to be wasteful and want to grow what you have. The things you can learn will be things like where to invest, what to look out for, how not to get scammed, capital preservation, interest rates etc. But the will to be patient and willing to invest is a mentality that one has while growing up.

For example, while growing up, there were kids who stole their parent's money to be buying sweet. They were another set of kids who used to bring sweets and other small things to school to sell.

Na there each one de grow his investment or consumer mentality.

Making, managing and multiplying money is a skill that can learned and mastered.

Some of the major reasons Africa has sustained its poverty pedigree are poor planning, financial illiteracy and mismanagement of time, funds and other resources, not just on continental and national levels but individually and family wise.

The average African never got exposed to financial planning and management. S/he thinks it’s an unnecessary suffering to save for unforeseen future, a notion premised on the ideology that “tomorrow will take care of itself.“

So, when a young man who has no financial footing meets a beautiful lady without financial intelligence as well, they both start a family on sheer optimism without financial intelligence on making, managing and multiplying money. Soon, financial crisis starts and it’s adduced to the devil and spiritual forces.

90% of marital problems are money-oriented (personal data).

This is one way Africa has sustained a circle of generational want, inadequacy and poverty.

Question: How can we improve the financial intelligence/literacy of Nigerians because it holds the key to solving many problems in individual, corporate and national life?

emmanuelewumi:



Financial stress will make him to take more debts. Financial stress will lead to mentally stress and health stress

So true!

And beyond being a laughing stock, which is a public reaction, such a person will be under huge financial pressure that’ll affect his psychological and physiological wellbeing.

Financial stress is never good for anyone. Can only wish people can manage their resources better.

emmanuelewumi:



If you have set an unsustainable life style and you don't have a reserve or an investment that can subsidise the expenses, you will end up being a laughing stock

Look no further, my grandma is available.

Phyde:

Where can i find one in this present Nigeria please

You can invest it in Eurobonds. It’ll yield more value than laying fallow in your savings account.

Entry fee is $1,000 with United Capital and $2,500 for FBN Quest.

chidekings:
I have some idle usd in my dorm ac,my ac manager said instead of leaving the money like that,that I can fixed it for 30 days for 1 percent,sorry for the naive questions.is it the right thing to do and is this a standard practice in banks

With the historic slope in oil prices, what’s the market outlook for stocks investors?

Your caution may not be accurately situated.

Bonds are long term investment tools (5-20 years), and you don’t expect that Nigeria will be in a terrible economic state for a minimum of five years.

The yields which are paid quarterly or bi-annually, are not much of a burden for the government or funds managers.

Mind you, the average Eurobond investor here doesn’t buy directly from the government, rather from a pool (your investment outfits) who surely have a capital base and an accumulated balance sheet of yields for years. Meaning whenever you request your funds, they’ll have it available for you within the stipulated timeline (usually 24-72 working hours)...So, you ain’t collecting the funds from the government.

In fact, government needs all the dollars they can get now.

It’s just good that every investor make their findings before committing funds to anything.

I read someone here lost over $1,000 in Eurobond investment. I’m really interested in the details of such, cos a lot have people have made money and hedged their funds against depreciation.

TotoNaRubber:


I think it's best to slow down in EuroBonds and dollar denominated bonds as the oil price per barrel is at $19 per barrel.

The Nigerian govt will really struggle to repay maturing foreign debts.

Dangote will be really worried now with his refinery profit projection in danger.

Yes but it’s a checking account that can only receive from a company account.

You’ve got any offer?

presiade:
Do you have account in the US?

This morning, I made a cash deposit of some USD into my FCMB dollar account and later transferred it to United Capital...My account was debited, it was successful. United capital confirmed receipt.

Out of curiosity, I asked the customer care personnel at the bank who said the “supposed restriction” only applies to cash deposit/transfer beyond $10,000 per week.

Meaning, you can deposit up to $10,000 per week and transfer same electronically.

Tomtom, reporting live from China!

speak2lift:
The United Capital which me I have been using for a while now had always accepted Cash deposit up until early January.

I still paid in USD as at December 2019 ending and I had been doing that since I started using them in 2017.

It was in January that the Account Manager told me that Cash Deposits were no longer being honoured.


As regards what CBN said or did not say - what I have sha shared is the reality which we are all currently facing now. Can you make an attempt to transfer funds from your dorm account into the Eurobond investment accounts of either United Capital or Stanbic and let me know if it goes through?

CBN cannot claim to be unaware of what banks have implemented.

I will be waiting for the result of your test. Perhaps we can learn from you

Logically true!

Any way, I’ll be interested.

presiade:
Well, rate in the US cannot be compared with what you will get back at home

United Capital never accepted cash deposit, way before any directive from the CBN.

Perhaps, the CBN says the directive isn’t as you explained...Maybe the banks are just the ones making it up. I’ll be testing the directive with some funds soon.

At $20,000 minimum inflow, Stanbic isn’t giving small portfolio investors much of a choice.

The system is rigged against the low and average citizen.

speak2lift:
Yea. You actually did. I am feeling so happy with myself right now even though I am still wishing I did way more...but with the one I was able to do, i still give glory to God.


To make matters worse, CBN has now stylishly made investing in dollar denominated funds extremely difficult.

I got repeated messages from Stanbic Asset Mgt Team just last week stating that the minimum inflow they will now accept is USD20,000 and secondly funds originating from cash deposit into ones dorm account wont be accepted anymore. Meaning that even if you are able to get your BDC to deposit dollar into your dorm acct and you attempt to transfer to them via your bank, they wont accept it. The inflow must strictly be from electronic transfer from your BDC(talk about Camel passing through the eye of a needle)


United Capital is also affected by the Cash deposit policy by CBN - although their minimum inflow amount hasnt changed - they are also bound by the restriction on Cash deposit.

We have got to brace up peeps - I see more policies coming out from CBN in the next couple of weeks. God save us in these times

Please inform me when you see at this rate.

presiade:
Can anyone Zelle money to me, I urgently need $300 @380/#? I will send you Naira in Nigeria.

Thanks!

Got a 399/$ offer on Wednesday but I didn’t take it. Only to realize it was sold for 405/$ on Thursday.

Had to buy at 400/$, knowing it’ll still go up in coming weeks.

TotoNaRubber:
I bought N370 last week though not much but the value has climbed with N170k profit compared to the current sale rate if i sell now.
I can still source at N370 but it takes a lot time.

Find individuals that may want to remit money to naija, if you can buy $ 100k @N370, in six months from now na N5m profit.

speak2lift:
I still bought yesterday at NGN404 from a BDC.

However, this evening I just saw this news from CBN

https://businessday.ng/lead-story/article/cbn-suspends-fx-sales-to-bdcs-till-further-notice/amp/?__twitter_impression=true

Going by this, I can almost tell that by tomorrow the price will most likely have gone higher.

TIME!

Has anyone bought dollar of recent?

What’s the current rate?

LOL!

We all should be more worried about the implications of the downward slide on the Nigerian and global economy as a whole, way beyond Tbills rate.

michealekene:
Global oil prices reduced to 31 dollars per barrel, -20% reduction. Any implications on Tbills in the coming months?

Gurus in the house please.