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InvestmentRe: Treasury Bills In Nigeria by tunene66: 4:24pm On Feb 23, 2020
olujaidi:
Does anyone know of any options where one can run a foreign bank account without being a resident of a foreign country? Or a country with not so stringent requirements?

@Nnamz, sholapey, ahiboilandgas, emmanuelewumi , donbrig
Cc: all other knowledgeable parties
Try www.transferwise.com
InvestmentRe: Treasury Bills In Nigeria by tunene66: 11:12am On Feb 21, 2020
Akin3891:
As seen on social media


The Nigerian money market has gone bunkers!

It's just crazy!

I called my account officer in GTB to enquire about deposit rates and he confirmed that GTB is offering 1% interest rates on all fixed term deposits up to 50m naira!
Meanwhile, same term deposit in a bank in Canada or US can get one at least 2.5%.

Nigerian Treasury bill (NTB) rates went down as low as 2.5%!

I checked on Stanbic-Ibtc circular this morning and long term instrument - FGN Bond rates in the secondary market is down to almost 6%.

I checked on the FGN bond primary auction results as at 19th february 2020 and the bid for the highest tenure bond is almost 600% higher than the allotted securities, which shows a lot of parties are scrambling to buy these securities with no success.
Which means many financial institutions have billions of Naira sitting idle!

Meanwhile Nigerian inflation rate as at this morning is 12.13%...

So if you have Naira sitting idle in a bank account or even in a fixed deposit, you are losing value as fast as Ben Johnson!

This is the outcome of the FGN borrowing trillions from the pension fund instead of borrowing from the public.

If this trend continues, there will be a lot of Naira chasing the USD...which means the likelihood of a market devaluation of the Naira is inevitable.

Folks with cash deposit depending on interest payouts for livelihood - just a few months ago - will be forced to dip into the principal to pay bills...in addition to suffering the devaluing effect of a 12.13% inflation.

The thrust of the FGN's tough monetary policy is clear - folks should use the money to build businesses and create employment...but the environment is a tough one to risk one's money building a business!

Yeah...It's a tough economic world in Naija today.
The storm is gathering o, make person take cover
Foreign AffairsUK To Close Door To Non-english Speakers And Unskilled Workers by tunene66(op): 10:39am On Feb 19, 2020
Britain is to close its borders to unskilled workers and those who can’t speak English as part of a fundamental overhaul of immigration laws that will end the era of cheap EU labour in factories, warehouses, hotels and restaurants.

Unveiling its Australian-style points system on Wednesday, the government will say it is grasping a unique opportunity to take “full control” of British borders “for the first time in decades” and eliminate the “distortion” caused by EU freedom of movement.

But industry leaders immediately accused the government of an assault on the economy warning of “disastrous” consequences with job losses and closures in factories and the high street.

https://www.theguardian.com/uk-news/2020/feb/18/uk-to-close-door-to-non-english-speakers-and-unskilled-workers

InvestmentRe: Treasury Bills In Nigeria by tunene66: 3:01pm On Feb 18, 2020
ahiboilandgas:
I think the global financial system is a scam tilted in favour of western Nation ...the africa keep getting poorer and miserable why the American buy up africans resources at weaken currency
..if the American want to buy up a house in lekki wort 100m now he will wait with 100k dollars when naira hits 1000 he buys without any futher effort. but the lekki man that want to send his son to us to school @30000 dollars per session need 30m naira in 12 years to do that
That is a known fact.
A way out is for a strong monetary union in Africa and reduced dependence on the dollar/other major currencies
Lets look inward and develop what we have. We should reduce commodity export and increase the export of finished products
It will take time , but it is doable
InvestmentRe: Treasury Bills In Nigeria by tunene66: 11:19am On Feb 18, 2020
naijaoyibo:
Good day house.


I am a keen follower of this thread but I had to create a new moniker to make this post for security reasons.

I have saved about $1 million. Most of these funds are held in Crypto assets, cash (Naira), very liquid investments (Agro-Tech and treasury bills), and 15% real estate which I want to offload as soon as possible

I made most of these money during the last crypto bull market in 2017. And if my predictions are correct, the next crypto bull market should start end of 2020/2021, after the 2020 Bitcoin halving in May. This might increase the value of my assets to $1.5 - 2 Million.
I am a very practical investor. I know bull markets do not last and crypto is very volatile. Just as I have a made of lot from it, so have I lost a lot.

I want to diversify to more traditional investments and keep my gains. I used to invest treasury bills, but the rates are not favourable currently, Also, I fear a pending currency devaluation. I witnessed how the currency devaluation of 2015 decreased Dangote's wealth from a peak of $25 billion in 2014 to about $10 billion today.

In as much as I would like to preserve my capital in USD, I would also like to take advantage of investments with better returns in Naira.

My goal is to get ROI that can take care of my everyday needs and still grow my capital at least above the US inflation of about 2%.
I have studied the Naira vs dollar chart and notice a tendency. Once in every few years, the Naira gets devalued, after which it remains very stable for a few years. Also, just near the period after the devaluation, there is ample investment opportunities with great ROI to prevent flight capital. (e.g rate for T-bills were 17-20% immediately after the devaluation in 2014/2015).

I am still very young (middle 20s) and not married, so i can take some moderate risks.


Dear house, please advice on how to preserve and grow this capital. Also, are there Asset management companies that could help me out too?

Boss Ahiboil. Boss Emmanuel. Boss Totonarubber and all.
I have studied the Naira vs dollar chart and notice a tendency. Once in every few years, the Naira gets devalued, after which it remains very stable for a few years. Also, just near the period after the devaluation, there is ample investment opportunities with great ROI to prevent flight capital. (e.g rate for T-bills were 17-20% immediately after the devaluation in 2014/2015).

Food for thought
InvestmentRe: How Oko Oloyun Option C Investors Can Get Their Money Back by tunene66: 5:29am On Feb 17, 2020
Let's wait n see
InvestmentRe: Treasury Bills In Nigeria by tunene66: 7:32pm On Feb 16, 2020
Biko all this abuse on the platform should stop.
Thanks
InvestmentRe: Nigerian Stock Exchange Market Pick Alerts by tunene66: 6:30pm On Feb 06, 2020
pluto09:
Where did you get this?
The one I downloaded does have notes.

CrimeNigerian Phone Subscribers May Be Restricted To Three Phone Lines - Minister by tunene66(op): 4:24am On Feb 06, 2020
An individual may no longer be able to own more than three phone lines going by a directive handed down to the Nigerian Communications Commission by the Minister of Communications and Digital Economy, Dr Isah Pantami.

The directive was based on security considerations.

Pantami directed the NCC to revise the policy on SIM card registration and usage, according to a statement issued by his Technical Assistant on Information Technology, Dr Femi Adeluyi, in Abuja on Wednesday.

The revised policy would ensure that, henceforth, the National Identity Number would become a compulsory requirement for registration of new SIM cards in the country.

The new policy would also put a cap on the number of mobile phone lines or SIM cards that could be obtained and registered by an individual.

Currently, many Nigerians have multiple mobile phone lines as they could buy as many as possible.

Pantami, in the directive issued to the NCC, suggested that an individual should not have more than three mobile phone lines or SIM cards.

While fresh registration of SIM card is to be accompanied with a subscriber’s NIN, all already registered SIM cards are to be updated with the identity number before December 1, 2020.

Similarly, foreigners are to use their passport and or visa numbers to register SIM cards.

Parts of the statement read, “The updated policy is expected to ensure that the National Identity Number becomes a prerequisite for Nigerians registering new SIM cards (while for foreigners, their passports and visas should be used), while already registered SIM cards are to be updated with NIN before December 1, 2020.

“There should be a maximum number of SIM cards that can be tied to a single individual, possibly a maximum of three.”

The NCC was equally directed to ensure that only fully accredited agents support the SIM card registration process without pre-registering SIM would be themselves, while the eventual registration should be done by the operators.

The commission was also ordered to ensure that, henceforth, no unregistered SIM is ever allowed on mobile networks.

According to the statement, the updated policy is expected to “ensure that subscribers can easily check the number of SIM cards registered to their name, along with the associated phone numbers and networks.”

The new policy would also make it mandatory for the mobile network operators to fortify their networks against cyberattacks.

Provisions of the new policy would further compel the telcos to adhere to the provisions of the Nigeria Data Protection Regulation, which guards against any breach of the personal data.

The new policy, to be formulated by the NCC in line with the minister’s directive, would, in the same vein, ensure that SIM cards that have been used to perpetrate crime are permanently deactivated.

The NCC was directed to provide the minister with progress reports on the implementation of the revised policy.

Pantami explained that the need for the revised policy was informed by reports from security agencies.

“The revision of the policy is based on the feedback received from the security agencies following the successful revalidation of improperly registered SIM cards in September 2019 and the blocking of those that failed to revalidate their SIMs,” the statement said.

The minister had in late 2019 declared that there were no more unregistered SIM cards in the country, following a directive issued to NCC to block about 9.2 million unregistered and pre-registered SIM cards.

He also directed the NCC to provide security agencies with the identity of any suspect linked to any mobile phone number that was used to commit crime.

Some of the minister’s previous interventions in the sector, such as a directive that sought to compel operators to reduce the cost of data, were challenged by some stakeholders, who argued that he was undermining the independence of the regulator.

However, in the statement that announced the directive for a new SIM card registration and use policy, the minister stressed that he was acting within his powers.

The statement said, “The Minister of Communications and Digital Economy, Dr Isa Pantami, has directed the NCC to revise the policy on SIM card registration and usage.

“This is in line with the powers of the minister as stated in section 25(1) of the Nigerian Communications Act 2003.”

The section said the minister had the power to notify the NCC, and, or, express his views on the general policy direction of the Federal Government in respect of the communications sector.


https://punchng.com/subscribers-may-be-restricted-to-three-phone-lines/

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