₦airaland Forum

PayPal FnF, GnS $45 available at N490. Pls that is final rate!

FBN Holdings Plc Hits a New 52 Week High at N10.65 Per Share as Investors Continue to Buy Into the Company
https://investorsking.com/2021/10/12/fbn-holdings-plc-hits-a-new-52-week-high-at-n10-65-per-share-as-investors-continue-to-buy-into-the-company/

Insider Dealing: Indimi Acquires an Additional 5.1 Billion Ordinary Shares Worth N3.3 Billion in Jaiz Bank Plc
https://investorsking.com/2021/10/11/insider-dealing-indimi-acquires-an-additional-5-1-billion-ordinary-shares-worth-n3-3-billion-in-jaiz-bank-plc/

IMF Lowers Global Growth to 5.7 Percent
https://investorsking.com/2021/10/12/imf-lowers-global-growth-to-5-7-percent/

FBNH, Ecobank, Zenith Bank Top Trades as Nigerian Stocks Closed in The Red
https://investorsking.com/2021/10/12/fbnh-ecobank-zenith-bank-top-trades-as-nigerian-stocks-closed-in-the-red/

Osinbajo Explains Why Forex Policy Should Discourage Arbitrage and Corruption
https://investorsking.com/2021/10/12/osinbajo-explains-why-forex-policy-should-discourage-arbitrage-and-corruption/

Covid-19’s Lingering Impact is Fading Investor Optimism, Says IMF
https://investorsking.com/2021/10/12/covid-19s-lingering-impact-is-fading-investor-optimism-says-imf/

Fidelity Bank Empowers Entrepreneurs to Play Big In The Non-Oil Export Market
https://investorsking.com/2021/10/12/fidelity-bank-empowers-entrepreneurs-to-play-big-in-the-non-oil-export-market/

Over 30,000 Mobile Malware Attacks Blocked in Nigeria, Kenya, SA in H1 2021 – Kaspersky
https://investorsking.com/2021/10/12/over-30000-mobile-malware-attacks-blocked-in-nigeria-kenya-sa-in-h1-2021-kaspersky/

Youverify, OnePort, 14 Other African Startups Named Finalists For 2021 VC4A Venture Showcase
https://investorsking.com/2021/10/12/youverify-oneport-14-other-african-startups-named-finalists-for-2021-vc4a-venture-showcase/

AB InBev Opens Applications For Beer Garage Africa Innovation Challenge
https://investorsking.com/2021/10/12/ab-inbev-opens-applications-for-beer-garage-africa-innovation-challenge/

Carbon, Network International Partner to Deepen Digital Payment Offerings
https://investorsking.com/2021/10/12/carbon-network-international-partner-to-deepen-digital-payment-offerings/

Conoil to Pay N1 Billion as Final Dividend for 2020 FY
https://investorsking.com/2021/10/12/conoil-to-pay-n1-billion-as-final-dividend-for-2020-fy/

JPMorgan CEO Continues to Think Bitcoin is Worthless
https://investorsking.com/2021/10/12/jpmorgan-ceo-continues-to-think-bitcoin-is-worthless/

eNaira to Become Critical National Infrastructure
https://investorsking.com/2021/10/11/enaira-to-become-critical-national-infrastructure/

Cardano’s Two-Year Investment Return Over 2,100%, Despite the Crypto Price Drop in September
https://investorsking.com/2021/10/11/cardanos-two-year-investment-return-over-2100-despite-the-crypto-price-drop-in-september/

Access Bank Completes Acquisition of African Banking Corporation of Botswana Limited
https://investorsking.com/2021/10/12/access-bank-completes-acquisition-of-african-banking-corporation-of-bostwana-limited/

Airtel Africa Appoints Tsega Gebreyes as an Independent Non-executive Director
https://investorsking.com/2021/10/12/airtel-africa-appoints-tsega-gebreyes-as-an-independent-non-executive-director/

CBN Disburses N3bn Under Nigeria Youth Investment Fund (NYIF)
https://investorsking.com/2021/10/11/cbn-disburses-n3bn-under-nigeria-youth-investment-fund-nyif/

drealcivilceno:
Abi ooh...

Some people believe all these things are gotten based on merit(black and white)

Provide they didn't kill anyone not steal anything... Why should anyone complain

P.S: I didn't know the depth of the transaction, thanks for educating me.

You are welcome.

drealcivilceno:
Wrong, but least they did not kill anyone during it process, and it was to serve economic purposes.

Just fine them, if they are found guilty, and get it over with.

Next...

If you understand global politics, you will see the hands of Saudi Arabia in the whole investigation. It is Saudi Arabia that is financing it. Saudi Arabia lost to Qatar despite all the money spent and Qatar sanction. They hate that Qatar is hosting the first-ever world cup in Arab world and the second world cup held entirely in Asia after the 2002 tournament in South Korea and Japan.

The idea is to discredit them. More protests will still happen and it is already happening from using cheap labour to build the stadiums and sponsor teams from various nations to protest. Saudi needs to admit Qatar and Russia beat them on this.

US, Saudi Arabia strongest ally couldn't help them. Qatar after the sanction entered a secret pact with Russia to derail Saudi Arabia world cup plans. It works!

Continue staying with your uncle while processing your Phd in the US. This is very important because of your health, U.S has better healthcare.

Also, the money is not enough to start much on your own. However, start data analytics, web development, etc training while preparing for your GRE and applying for PhD in the U.S. They are global skills that will help you hit the ground running.

Stay with your uncle.

Airtel Nigeria to BuyBack N61.24 Billion Worth of Shares
https://investorsking.com/2021/10/04/airtel-nigeria-to-buyback-n61-24-billion-worth-of-shares/

Stock Investors Gained N656 Billion Last week as Dangote Cement, Others Closed in the Green
https://investorsking.com/2021/10/04/stock-investors-gained-n656-billion-last-week-as-dangote-cement-others-closed-in-the-green/

Segun Ogunsanya Begins New Role as CEO of Airtel Africa
https://investorsking.com/2021/10/04/segun-ogunsanya-begins-new-role-as-ceo/

NGX Suspends Trading in Shares of Chellarams Plc
https://investorsking.com/2021/10/04/ngx-suspends-trading-in-shares-of-chellarams-plc/

Will Bitcoin Hit $100,000 by the End of 2021?
https://investorsking.com/2021/10/03/will-bitcoin-hit-100000-by-the-end-of-2021/

Investors Can Make $1bn from Palm oil, Says Adebayo
https://investorsking.com/2021/10/01/investors-can-make-1bn-from-palm-oil-says-adebayo/

Visa Set to Launch Central Blockchain System for Digital Currencies
https://investorsking.com/2021/10/01/visa-set-to-launch-central-blockchain-system-for-digital-currencies/

This is good. I am following...

wealthtrak:
Great insights.

Thanks

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://www.nairaland.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

You are really trying. However, like Segun you failed to look at Naira situation from a bigger perspective. Using purchasing power parity as yardstick for his analysis would have make sense if Naira is free floated like U.S Dollar, British Pound, etc. But Naira is pegged with the Central Bank of Nigeria managing it's value with intermittent forex intervention that over the years have eroded Nigeria's dwindling foreign reserves.

If Naira is free floated like in a sane country, his position would have hold water.

FreeStuffsNG:
Thank you so very much sir. I now see that you are using charts. I am referring to specific closing numbers and it rose yesterday and today. Monday closed about 74. something.

It short up again on Tuesday and today circa $76.56 and will likely maintain its WoW rise by the end of this week.

Here's a report of yesterday on business post sir https://businesspost.ng/economy/oil-returns-to-bullish-zone-over-tighter-us-supply/

Brent crude futures gained 68 cents or 0.92 per cent to settle at $74.59 per barrel, while the US West Texas Intermediate (WTI) crude futures gained 22 cents or 0.31 per cent to settle at $70.51 a barrel.

Here is the logic, if something open at $75.16 and closed lower at $74.09 on Monday but close at $74.59 on Tuesday, even below Monday's $75.16 per barrel. How is that gain? It pared losses!

FreeStuffsNG:
Thank you so very much sir. I now see that you are using charts. I am referring to specific closing numbers and it rose yesterday and today. Monday closed about 74. something.
It short up again on Tuesday and today and will likely maintain its WoW rise by the end 9f this week.
Here's a report of yesterday on business post sir

I am using live chart and have been doing this for close to 20 years. Market closed lower on Monday and pared losses on Tuesday. Nothing more. Forget what you read on papers, journalists are not analysts.

FreeStuffsNG:
Sir, WoW, oil price has been increasing for weeks now and not dropped. It dropped to close the week last Friday yet it still went up WoW. Please kindly check your data sir. Surge in demand is clearly because most economies are opening back, OPEC+ has not been able respond to the increased demand and I suspect that most countries have started storing up strategically ahead of winter over concern about climate change that may cause extremely cold winter. Evergrande is predicted to have an impact but the Chinese government is responding well with the cash injection.

I replied because you are respectful but you must always factor in time. Your views are valid if I am analysing longer time frame but not the first two days of this week.

FreeStuffsNG:
Crude oil and gas actually went up

Lol.. it is time bound. It rises today after data showed U.S. crude oil inventories fell to their lowest in three years today. The article you read stated this week. Crude oil has been dropping since Monday even with Gulf of Mexico accident, the increase started an hour ago after the U.S. Energy Information Administration said crude oil fell by 3.5 million barrels to 414 million barrels last week, lowest since October 2018.

Again, the surge in demand might be as a result of Evergrande $16 billion bailout announced by the Chinese government to plug possible catastrophe from over $300 billion debt incur by the real estate firm. China is the world's largest importer of crude oil. Lower inventories, means reduced supply while a healthy chinese economy means sustained crude oil demand.

The United States is the world's largest economy and cryptocurrency's biggest investor, it means large number of capital inflow into the crypto space are from the United States and with the U.S economy battered and unstable due to COVID-19, foreign policy, etc US investors, mainly institutional investors, have been increasing their investments in crypto space, the new safe haven, in the last one year.

However, on Friday, the U.S commerce department released retail sales report, which measures US consumer spending that contributed over 70% of US GDP estimated at about $13.4 trillion. Retail sales that has been on the  decline for months and was predicted to come out at - 0.8%, unexpectedly came out at 0.7% in the month of August.

The unexpected improvement in consumer spending, in fact against the Consumer Confidence report that came out previously, bolstered U.S dollar attractiveness to 94 on dollar index as investors jumped on it and other dollar assets.

Why did investors jump on Dollar and how does it affect crypto and U.S dollar-quoted commodities?

The US dollar rose to a three-week high because capital inflow into American assets jumped as investors started predicting that the Federal Reserve (US central bank) could announce tapering (cutting down on bond buying -quantitative easing) at the Federal Open Market Committee (FOMC) meeting scheduled to be hold next week.

Quantitative easing is when government is buying debt (bonds) to support the economy. However, when government is cutting bonds purchase, it means the economy has started doing well enough to sustain itself without support.

This is why capital flow out of crypto space rose as institutional investors that are sustaining the crypto are now dumping their money on dollar assets - the very reason dollar value rose since Friday.

Market is about demand and supply, no demand in crypto space means falling/bearish market and demand in dollar means stronger US dollar - I actually bought dollar -sold GBPUSD- on Monday.

Here is why dollar quoted commodities like crude oil dropped. It is simple, because dollar products is now expensive for holders of other currencies. Therefore, demand for crude oil dropped against constant supply.

If FOMC announces tapering earlier than expected next week, crypto could fall even more!

https://investorsking.com/2021/09/22/here-is-why-cryptocurrency-u-s-dollar-quoted-commodity-drop-this-week/

The deduction is likely from your U.S earnings... People that watch your channel in USA.

gremp:
Does FCMB require referrals like other banks.

NO

Do not cut price to compete with a deep pocket competitor except you can still remain profitable if you do so.

In marketing, we have market penetration and skimming strategies. Your competitor has adopted market penetration strategy to gain substantial market share, in most cases at expense of profitability and will look to service its large market share with more products down the line.

You will not win by lowering your price, offering the same service with low quality machine or equipment or trying to compete with a deep pocket competitor. However, you can stay ahead by offering new unique services, free training since it is computer service center. Launch free blogging training, Bitcoin and cryptocurrency investment training, CV clinic, etc. build a genuine relationship with your future customers so that their decision won't be based on affordability (money) but loyalty.

Also, your competitor may fail once it increase price like OPAY during the era (OPAY ride) of excessive price cut and the eventual increase that chased existing customers away. Still, you need to remain relevant to survive, therefore, the above suggestions.

LisaAnneMia:
Hello, thanks for this info but I have 2 questions:
1. The 3-time withdrawals you mentioned, are they personal withdrawals or withdrawals that were made through online transactions? If the withdrawals are from online transactions, it means I can only buy things 3 times online per month?
2. And for the recent bank statement, I currently do not have an account with FCMB. Can the bank statement be from another bank?

This is a Domiciliary Savings Account, note the savings. So withdrawing will limit some benefits. However, they have the regular domiciliary account, contact the bank for more details. No need for bank statement and note that you can withdraw as much as your want, just that you will lose your ability to earn interest on your dollar savings for that month if withdrawa is more than three times.

You can look into Zenith Bank, I heard (from Nairaland, therefore, not verified) its free to open Domiciliary.

crazyABO:
. Can you open the account online from foreign country?

Yes, try FCMB, Zenith, Fidelity etc

earthstronaut:
Can I make transfers using the bank app?
Access bank offers this function.

Yes

Krismas:
Is d FCMB dorm acct savings or current. If savings is it for cash deposit or transfer or both?

savings and both to the other question.

Springboot:
Alat by wema account is free, Zenith bank account is free. Why pay $10 for fcmb

Those are Naira accounts, we are talking about Domiciliary savings account.

First, given the Nigeria's unstable economic situation and policymakers' fire brigade approach to foreign exchange and other economic matters. It is important to have a more stable savings account that can help curtail, manage and even profit from their recklessness or cluelessness.

Nigeria is a petrol-dollar economy. This simply means that Nigeria, Africa's largest economy with population of 200 million, have to sell crude oil to generate the US dollar needed to service her economy. Suggesting that any time OPEC or OPEC+ capped Nigeria's production or Millitants strike, the economy will suffer as the healthiness of the economy is directly tied to her foreign reserves (an account where all foreign revenues are kept for use).

However, the reason we suffer so much or why we have high forex volatility is because Nigeria is an import dependent economy. We import over 90 percent of what we consume due to our weak manufacturing sector. This, also explains the high unemployment rate of 33.33 percent since we export all of our jobs.

Now, here is how to mitigate the risk associated with this unpredictable nature of the Nigerian economy. Read one of my articles titled How to Save, Invest and Earn in US Dollar in Nigeria https://investorsking.com/2021/06/28/how-to-save-invest-and-earn-in-us-dollar-in-nigeria/

OPEN a Domiciliary Account

Recently, I discovered a better and economically viable Domicilary Savings Account (FCMB, pls note this is purely for information purposes and not paid ads).

This account can be opened with just $10, Euro or Pound depending on your type of account.

Here is why I think this is better for people looking to start saving in USD, especially the youth.

Interest bearing account but forfeited once there are more than 3 withdrawals in a month.
A serialized non-clearing cheque-type withdrawal booklet used for withdrawal by account holder only.
Allows for Foreign Currency Salary payments and cash lodgement.
Account can be operated either as an individual or a joint account
NO charge on cash withdrawal.
Offers Issuance of foreign currency denominated drafts
Free E-mail transaction notifications
Free monthly electronic statements

Requirements for Opening FCMB Domiciliary Savings Account - the most straightforward I have seen

Completed account opening form
1 passport photograph
Minimum of 18 years-old and provide the following:
International passport or Driver’s License or National ID card or Voters Card or Resident Permit (for immigrants)
Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.

To read more on FCMB Domiciliary Savings Account click https://www.fcmb.com/domiciliary-savings-account

Any more question? Ask me.

Jaqenhghar:
That's why I used words like 'probably' and 'suggest' I didnt say I am right or I know but you were being vague and I responded based on what you wrote.

I dont know where you are from but will you think it's normal seeing a 60 year old in diapers?

wo I am tired jare, imagine comparing a nation to a human with limited lifespin. Thanks for the time.

Jaqenhghar:
A growing nation @ almost 60. IF that is what growth looks like, its a good thing the rest of the world isn't growing the same way or we would have all been living in caves
by operate at global level what you mean is probably you have to seek clients outside Niggeria because people in NIggeria are not buying what you are selling. I will even go further to suggest that it is not exactly legal hence the need to operate in Niggeria where there are no checks.

Bro you need to calm down so we can learn one or two things from each other. At global level i meant, operating in Nigeria 'as a Nigerian but with a global standard (technical know-how, structure, etc).' Nobody is talking about outside clients or businesses. See high net worth individuals or people that will engage you in a life changing business are widely travel and know whatsup (not necessary knowledgeable) but you need to give them something close to what they see in USA, UK etc. Sadly, most of the people that understands this are returnees and the few widely traveled Nigerians I have met.

For instance, Nigerian businesses still spends over $400 million on software license renewals, purchases, etc yearly and with the Naira trading at N562 to a United States Dollar, chronic scarcity will force them to look inward (locally). However, you have to be an outstanding software developer that can give them something similar or even better to capitalise on these opportunities.

At 60 Nigeria is still a baby compared to all the developed nations, except Singapore and Hongkong.

Limassol:
Do you mind sharing with us some of these opportunities?

It depends on your field and individual capability skillwise. Nigeria is a growing nation with several gaps that needs to be plugged. Hence, why Opay, Flutterwave and other startups are raising billions ($million) from global investors.

One thing I noticed since I came back is that you have to operate at a global level to penetrate people that matters in Nigeria. For instance, in my case, I built a platform that addresses certain challenges and attracted corporations, high networth individual to me.

tiger28:
After Godogodo ( the most dangerous SW robber...Google))and his crew paid my household a visit , HEAVILY armed in one of the "most" secured and plush estates on the island in Lagos.........I ran so fast from that shithole. Was MISDIAGNOSED by a Doctor, After spending about 6M in " one of the best hospital" in Lagos, a visiting Nigerian American doctor friend took just "FIVE MINUTES" to correctly diagnose my issue as JUST THYROID (Naija doctors had me pay for expensive colonoscopy, HIv , Typhoid, expensive ECHO test twice and many others) I am at peace in my second Country USA. Haven't been back in 6 years when dollar was N150 . SOON as I got to Yankee, fed gave me weekly emergency money right away, full medical insurance and free tuition for my masters. ........The Best part, no one can tell me anything about Nigeria ( come home, come home BS)at least I can say I have been there , done that and my Children ( all graduates) always talk about the robbery and the Thieving Police) . I have lost so many friends due to sickness or armed robbery, I have another one in Ibadan that haven't been paid a salary in "two" years.Even visiting Nigeria now isn't safe anymore unlike back then. I will rather RETIRE in a peaceful environment....NO REGRETS WHATSOEVER!!!

Nigeria is a very tough place. I returned last year but learning to live on the edge and constantly reminding myself this is Nigeria, where nothing works. However, opportunities abound!

Truth234:
Paypal FnF $210 available at N480. No negotiation!

Sold!

Paypal FnF $210 available at N480. No negotiation!

Paypal FnF $210 available at N480

Urbanchampion:
This obcession with Afghanistan is becoming boring and irritating. Iran is an Islamic Republic and Iranians are doing better than most countries.

Lol... 90% of Iran are Shi'a while Afghan are Sunni. Iran are moderate, hence why others don't like them. I could remember that Malaysian women hated their women because of the way they dress and accused them of seducing their men.