₦airaland Forum

Zagee:
Good amount, this will support the naira to 900 or so if gotten. But they should allow me monitor my coins plix or I change country for them

Already planning untop bird wey still dey bush, binance will definitely appeal that.

ayoadekunle79:
I think the report should also include merging of the two House of assembly into one to save cost and reduce salary

God bless you, you said what's on my mind, we should scrap the senate, and the funds saved up from it spent on our teachers, doctors and LGAs across the country.

stcool:
Una dey talk anyhow....is Binance the problem of Naira

Okay now that they fixed the max sell price, Naira would drop to $1-NGN120

What you don't know, you don't know. Binance quickly acted to prevent issues with the government when they already started talking about a potential ban.

Boshins:
https://nairametrics.com/2024/02/21/naira-value-binance-confirms-placing-limit-on-usdt-ngn-trading/

Boom, way to go, binance and other crypto currency exchanges need to start fixing the daily price limit according to the official exchange rate, if they can't then they should be banned from Nigeria alongside every other crypto site, the speculation is to much, even BDC guy will check binance before giving you a rate.

Faiththatworks:
I believe EFCC is going down a very treacherous road in declaring this man wanted.
I just read on another thread where some legal luminaries where advising Asiwaju to find a way of resolving this Mambilla issue and EFCC decides to declare one of the parties involved wanted,this is a project that has been held up for more than 15 years.
Asiwaju should listen to the counsel of these legal luminaries and settle this issue once and for all.
I have to digress a bit cos I wasn't able to comment on a topic on another thread,it's the issue of government suspending binance operations in Nigeria.
I totally agree with this suggestion, although I'm devout user of binance in buying and selling crypto,but I totally agree that Government must as a matter of urgency sanitize operation on that crypto exchange.
I buy usdt a lot on binanace and also receive from some friends and I'm shocked with the way the Naira is always devalued almost on a per hourly basis.
What's driving the prices on binance, who's the individual that determine the exchange rate of the Naira to any crypto,what algorithm do they use,what economic indices do they follow.
Seriously I suggest if binance can't peg their exchange rate to the official government rate,then they must stop operations in Nigeria.
This crazy economic sabotage by invisible people must stop,like I said I'm user of binance and I have evidence of the funds I receive on the exchange but enough of the manipulation going on.
God bless Nigeria........

Your suggestion at the bolded is the best way to go now, binance should set the rate on the P2P daily according to the official market price and same with the BDCs operating within the country. It's the work of saboteurs trying to undermine our naira at work, i use binance alot also, 2days back it was 1,700, yesterday it was 1,800, before the end of the day it will get to 1,900.

The 24 elders are made up of the patriarchs of the 12 tribes of Israel, the 11 disciples of Jesus and father Abraham replaces Judas Iscariot, I'm sure quiet a number of spiritual inclined folks know this already.

Deogratiasfx:
It simply means allowing the forces of demand and supply to influence the currency value as against CBN having a fixed the exchange rate.

It is the most realistic but it takes a smart government to take advantage of it. Hence, exports become cheap and imports become expensive.
People who export make so much because u bring in hard currency but when u import, u use ur huge money to get few things.

It's supposed to be the best thing, but look at Nigeria, we don't produce anything, even the few we produce, where is the light to operate machines?

machine606:
Rip to the entire NGX. So painful as his family was even involved.

Speaking about broking firms, permit me to register my account/ordel with @meristemng.com. I could remember some months back, a customer called out @meristemng, withs accusations of fraud. I was like a whole meristem, because of how much? He received retributions with some few defending the firm.

Well, it is what it is, @meristemng is now dubious to put it lightly! Someone reached out to me about shares stuck since 2008 with no dividend paid. I use Chaka (since 2020), recently opened another with Investment One (although, charges no be here oh). I referred him to either @meristemng or Cordos. Due to the prompt response from @meristemng, I adviced him to opt for @meristemng. They sent mails on how to open an account insisting on minimum of #10000 opening amount. He did so around October 2023. I personally facilitated the filling of forms and took it upon myself to mail @meristemng. Reason been, this was a business man with little or no knowledge of stocks. There where host of others waiting to rectify same issue. But I asked them to wait until we sort that of the first person. Due to trust, I was granted access to email account and other sensitive information/documents. But @meristemng is about to bring a crack (which I invisiaged, if all things remain same).

Fast forward to third week of January 2024, @meristemng is yet to create an account or communicate on it. I am aware account opening takes about 3 days once all documents needed is provided. Yet this is over 5 months now, yet no comment. I recently requested that the amount be refunded and account opening request aborted, yet no refund till date. While, the person in question might not mind the #10000 involved ( he was even opting I transfer about 150k to open the account), my integrity might be on the line, as i was the one that did all transctions. They only sign or send OTPs to me.

So abeg, is @meristemng still ALIVE? In my last email I copied even SEC just to pile in on any complaint from other customers affirming this attitude of theirs. Having used Chaka with little funds over a year, I ditched the thoughts of opening an account with @morgancapital. InvestmentOne was basically for long term plays and possible access to loans in the future.

What should I do to get a refund. This is one reason I run from overrated big firms.

That's why I always shake my head anytime they are recommended here, big firm with terrible services. My account with them has been abandoned, never again.

Mankind2024:
Did Buhari go after gej?
Did gej go after Yaradua?
Did Yaradua go after Obasanjo?
Did Obasanjo go after Abubakar?
Did Abubakar go after Abacha?
Did Abacha go after Babangida?
You will go after predecessors tirelessly without any evidence.

I will say this again, where there is a will, there will be a way. Nigeria and Nigerians have descended so low, that our values and morals as people are been eroded daily. look at church members kidnapping a parish priest, family kidnapping each other. We need a law to spell out and dish out heavy punishment for crimes including stealing of government funds. But the guys in power do they have the will to do these things? Absolutely no, why? To much vested interests.

essentialone:
back to back warning yet Tinubu is playing politics with hunger in the Land.


Prof Yusuf Dankofa wrote this on 5th Feb 2024, 17hrs

Read on :

"But they said they are the whiz kids from lagos

That the magic of lagos was going to be reignited at the federal level

Eight months after,it is ebin kpawa

What really happened

Where are the heroes of lagos

What is on the ground shows that the policy makers from eko do not understand governance

The policy flip flop has created a condition of acute poverty

Just like one commentator said,only those in the corridors of power are smiling

The rest are facing armageddon,a state of calamity and brutality

The politics of the land is toxic as only lagosians are in power, while the other "O" states are lamenting

Cronyism and inner caucus have betrayed the movement

Emilokan movement is so ordinary and bereft of ideas that grand old Buhari that spent eight years junketing is even perceived to be better.

So, Emilokan is about the fulfilment of personal ambition

Even the Imams that were shouting Muslim/Muslim tickets are busy gnashing their teeth

They have now become wiser its a hoax

Now they can't go for pilgrimage because they don't have N5M

Where will they see the dollar

Who dash monkey banana

No politician is even visiting their mosque anymore

Even Mr. Vice President has become a motivational speaker

He is busy admonishing Nigerians to be of good behaviour since leaders who are to turn things around have lost ideas

The ideas that were robustly generated during electioneering campaigns have vaporised into thin air

Now, the singsong by the talakawas is hunger

Our currency is as worthless as a river that ships cannot navigate

You need a bagco cement sack of naira to seek $300

The economic gurus of lagos have been turned into ordinary finance speculators

All those spotless suits and Oxford shoes are just abracadabra

What happened to years of study at Harvard and Yale School of Economics

Social media have been laughing at them

Even Zimbabweans and South Africans are having a good laugh

South Sudan,a country as poor as anything, is poking Nigeria

Pls where is the Save Nigeria Group

Where are Professor Wole Soyinka and Pastor Tunde Bakare that gave Jonathan nightmares

Where are all the lagos musicians

Where are the Kuti brothers

Have they forgotten their fathers lyrics

44 sitting and 99 standing

This is when the talakawa need them most

Have they forgotten their Uncle Dr Beko Ransome Kuti

Where are the offspring of Late Dr Bala Usman in this respect

And where are the Professor Pantamis of this world

That cried and prayed that the Jonathan administration should be changed

And what has changed today

And why are there no prayers to the Almighty that the poor should be rescued

The Lagos politicians have failed the people

They boasted that it is about brains and not brawl

This is the regime of the most educated people in Africa

What a paradox"

I saw this yesterday, and all I could say is bloody hypocrites. We are enjoying the dividend of 8 years of Buhari's maladministration. How could the writer say even old Buhari's was better?

Nairalander640:
Meritrade still the best i can recommend for now,
visit meritrade.com

Hmmmmmm

DeLaRue:
You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.

but how do you produce with poor electricity? Diesel is no longer viable for producers using generators. Incase you haven't noticed power supply as been nothing short of terrible immediately after Christmas.

emmanuelewumi:
Some of the people attacking you are aware of this very old trick and they also use it to deceive the gullible into illiquid stocks

I guess he did hit a nerve with that.

Laso09:
One major problem with the current forex crisis is lack of clear guildlines on forex transactions which has led to all manner of onorthodox practices.
A high percentage of diaspora remittance are not actually getting to the country.
How could someone be in London or newyork and be exchanging pounds or dollars for naira with the dollar and pounds not getting to the country.

The bolded is a big issue, imagine a Nigerian company having it's offices in New York, all in the name of attracting VC fundings, another issue is binance and co, most people now quote rates based on binance, even the aboki selling dollars on the street.

ositadima1:
Top companies in the UK

Energy:
Shell (SHEL): Oil and gas
BP (BP.): Oil and gas
National Grid (NG): Electricity and gas transmission and distribution


Pharmaceuticals and Biotechnology:
AstraZeneca (AZN): Pharmaceuticals and biotechnology
GlaxoSmithKline (GSK): Pharmaceuticals and healthcare


Financial Services:
HSBC (HSBA): Banking and financial services
Lloyds Banking Group (LLOY): Banking and financial services
Barclays (BARC): Banking and financial services


Consumer Goods:
Unilever (ULVR): Food, home care, and beauty products
Diageo (DGE): Alcoholic beverages
Reckitt Benckiser (RB): Hygiene and household products


Retail:
Tesco (TSCO): Groceries and general merchandise
Sainsbury's (SBRY): Groceries and general merchandise
Marks & Spencer (MKS): Clothing, food, and homeware


Telecommunications:
Vodafone Group (VOD): Mobile telecommunications
BT Group (BT): Telecommunications and internet services


Others:
Rio Tinto (RIO): Mining and metals
BAE Systems (BA.): Aerospace, defense, and security
Rolls-Royce (RR.): Aerospace and engineering
BHP (Mining and Petroleum)
Aveva - Engineering and industrial software.
ARM Holdings - Designs semiconductor and software technology, acquired by SoftBank Group


Just a few top ones with global presence.

Rover, producers of the popular range rover line of vehicle, Airbus in partnership with 3 other countries.

Viper attack helicopters? Why not Apache instead, each unit of Apache cost about $50m, getting 12 at about 600m dollars would have been a good one along with some MQ reaper drones to complement the fight against crimes.

Mpeace:
We dont know yet why it has been flying. Could some form of Ote$ be involved. Mind you the majority shareholders in transcorp hotel are
1) The federal Government
2) Transcorp.
These two own about 87.2 of the total OS.

Its not necessarily the result that is pushing this one
I think someone is buying at all cost maybe to force a takeover.

Well if truly there is someone trying to takeover, the person is buying really expensive.

stcool:
Seems you don't know most of this Chairmen are thieves and very selfish. 60kobo is what they want you to see... someone with inside information may be seeing #4 EPS. That is the difference.

Until Ote$ wanted to take.over Transcorp, what was the price of Transcorp...TOE na Wale with better suit and lamba!

At the bolded is absolutely true.

Shouldn't Transcorp hotel take the award for the most manipulated company? a trillion Naira company with 60kobo EPS, I pity unsuspecting investors who bought it expensive sha.

stcool:
The deceit is too much in this country....I just bought USD today $1510 at the parallel market.

Cardoso is just deceiving himself...all this 24hrs circular will not address FX challenges.

The govt needs to resolve the issue of crude oil theft, insecurity so our farmers can go back to the farm, encourage diaspora remittance and build investor confidence. Anything outside this is bullshit.

See Naira... See $1-NGN2000

Where there is a will, there will always be a way. The people in power don't have the will to do anything about insecurity and corruption, to many vested interests.

BullBearMkt:
Transcorp stock remains a BUY as long-term is bullish. With the market breadth bearish, the stock price may dip further down. Next is to:
-focus on weekly value zone (IF market breadth remains bearish) and buy more to add to my portfolio
-However, whenever market breadth changes to bullish and stock price below the daily value zone, I add more again.

Thank you.

Technically there should be a reaction between 12 and 10, if price closes below 10, it's going to be a free fall.

Op, try laying off whatever variant of weed you are currently smoking, it's too strong for ya head.

BullBearMkt:
We need to be a producing nation & earn dollars!!! Now we are consuming nation, hence need dollars for importation.
Production! Production!! Production!!!

How do we become a producing nation without power and security? If anybody has the ears of the people in the corridors of power, they should have this 4 points as their agenda: Corruption, Insecurity, Power and Agriculture, and watch out Nigeria soar.

MadamExcellency:
We are talking about industries, not domestic users.

Do you know that Star Paper Mills in Abia State has 6 units of 3 MWatts of Generating Sets totalling 18MWatts of Electricity? They are Diesel Generators and the company buys the diesel at market value and you are asking to pay a fair price for electricity? You do not know that one company operate 18 MWatts that can power a city of domestic users. Stop being obsessed with inflicting more pain on the populace.

Industries and corporations are paying their fair share but the supply is inadequate or non-existent.

Well he his actually right, allow the discos to set their tariffs and you will see improvement in power supply and also renewed investments from the gencos to discos. Government is still subsidising electricity and holding the power sector from growing all in the name of providing cheap electricity.

gidjah:
Someone advices me on STANBIC IBTC,
,WHATS YOUR COUNSEL PLS AS A NEW BEE.I WANT TO USE THEM TO DO MY BIDDINGS TO. BUY

Contact them about their dematerialisation process, also try to use a broker with good customer services.

Please someone who is more knowledgeable than I am in security and defence should counter me if I'm wrong. What is bad in FG negotiating with Biden to purchase atleast 5 reaper drones with weapons capability and atleast 10 Apache attack helicopters, build a state of the art control towers within the defence headquarters, handpick some of the best in the air force and send them to the US to learn how to best utilize this equipment. Give the military top echelon a time frame to end insecurity or resign. Why is this so difficult to do? Pls someone more knowledgeable should school me.

gasparpisciotta:
The guy na history graduate

[right][/right] You are not nice sir.

Agbalowomeri:
You sef are aware of the tool overload in TA. I KISS (keep it short and simple).

Of course, this na NSE and not crypto or forex. Any tool is just for little guidance. I don't trade with TA

Now over to Ichimoku

Next you guys will enter Moving averages.

emmanuelewumi:
Money Market Fund, cash and fixed income are also liquid, I guess his networth was tied to market value of his highly speculative stock positions

I shared the story of the guy whose N30 million portfolio turned to N2.5 million at a time when Naira to dollar was about N120.

If he diversified into cash, real estate, personal business and other cash producing assets he would not have been badly hit.

Someone said networth is a lousy metric and cash flow is far better. I guess that contributed to why Warren Buffett is the longest member of the Forbes list. Being there for decades.

Networth fuels the ego, cash flow fuels the yatch, jet and living expenses

Wise words from one of our elders here, Let me quickly scribble this down.

I keep saying it and will always say it, crime is very easy to perpetrate in Nigeria simply because thier are no consequences attached to criminal act. The day we decide to get serious as a nation, crime will fizzle away.

DeRuggedProf:
When you meet Ngozi at pepper soup joint and you tell her to buy Oando shares, she come ask you say wetin be shares? You come explain tire, she no get. The following day, you still meet her for the same joint, as you wan order LIFE for her, your UBA dividend come land, you come buy her Legend, she dey surprise. You come explain say na Tony be your boy wey send you cash. As women dey behave, she come wan collect Tony number from you, she no know say Tony doesn't know whether you exist sef. You come explain say Tony dey send money for people wey buy UBA shares. She dey more confused. Na him you ask am to give you 50k and you go givam some units of your UBA so that Tony go dey send her cash twice every year. She come gree and paid you the 50K. Na him you come ask your broker to give her 1000 units of your UBA. Una don do cross deal be dat.
I wan confuse you so that person wey understand no go get problem explaining it to you...

O lord have mercy.

Locotrader:
If champion do #12 from 3.85 it's selling today and NB do #70 from #37 we are seeing it now, which of them did better?

This is where I am beating most of you in this market.Japaul, Multiverse, Tip all gave me more than 300% while some of you fundamental guys are struggling to make 100%.

I'm behind you boss.