₦airaland Forum

I think It depends on how much you want to invest? I currently have commercial paper with FBN quest, you can contact them to inquire the minimum amount they will accept as i don't know if this investment porfolio is available for small investors. You can also do sovereign eurobond. This is the message i received from FBN quest"Hello ..,There are 11 Sovereign Eurobond options with different maturities and yields. Yields may vary from as low 3.5% to possibly as high as 6.5% or even more depending on the Bond price and maturity" better you contact FBN quest but i'm sure they will have something for you.

mra123:
Hello there,

Would you please advise on how to make such investment in dollars at 5%?

Thanks in advance

Without dollar expenses like school fees e.t.c i will still convert my idle cash to $ and invest in $ denominated investments, Naira devaluation have really shown me shege, once there is a devaluation of naira most of your profit in naira denominated investments will go fiamm!

emmanuelewumi:
If you earn Naira and have dollar expenses eg school fees, rent etc, it is better to convert about 70% of your earnings to dollars and dollar denominated investments.

I'd rather convert my idle cash to $ and earn 5% annually instead of doing bond of 10 years and getting 15% coupon annually!

ukay2:
I have been in bond market since year 2000....no stories from FGN so far.

Bond investors are paid their coupons and capital repayment before paying FGN workers salaries

Some of my friends have FGN Bond 2049, 2050....and still waiting for FGN Bond 2090.

But if your not interested in FGN Bonds, your free to opt out.

Cheers! !

I just put a call to my Aboki, he said rate yesterday was 450 but they expect to get $ from CBN by next week or 2 weeks later so the rate will drop in few weeks to come, he advised anybody buying $ now should pause except if really necessary. Hope this thing goes down soon.

AdaoraNK:
Black market was 450 yesterday

Does anyone know the latest dollar rate?

Good analysis,what i have learnt in doing Nigeria tbils,bond etc is never to invest in any investment portfolio that will keep my money for too long.

ahiboilandgas:
If u invest 10m now u will get about 18m in 7 years time if naira is now 520 in 2027 u will get 34000 dollars dollars ....an investment of 25000 dollars now your profit is 9000 dollars over 7 years .......just over 100 dollars profit per months.....if u have any thing that can give u better than 120 dollars on a investment of 25000 dollars is better than the bond...

Na true

ahiboilandgas:
380,785
Nigerian Americans. Nigerian Americans are Americans who are of Nigerian ancestry. The 2016 American Community Survey estimates that 380,785 US residents report Nigerian ancestry.which is small for paradise while 100k Americas too much for hell

The are so many houses with for sale banner in Lekki phase 2, is there any reason you want to get a seller from here

Philantropists:
Well done to you guys, just incase any of you have property for sale or know anyone selling property in Lekki Phase 1 or 2 I will buy.

My budget is N120 ~ N150 million.
I will give the person N500k commission.
Thanks

Must it be Canada or west? He will also make good money working in South Korea or Japan and can use his pay to do export from those countries if he is business oriented.

Diyke4rich:
Good day everyone, please i need assistant from people in canada or who have info about canada, i have this problematic brother who refuse to do anything, for year he has been telling us to sponsor him to canada school he refuse to go, work he refuse to learn, we are now planning to ship him to canada as he have always demanded or wanted, the question here is there anything he can do when he arrive in canada maybe working in factory, security, farm, sales person anything and lastly what is the best way to go about this.
Note this person is 36 he refuse to marry or even accept money to do business all he want for us to send him to canada.

Please please we will need advise to deal with this issue is really serious to us especially when is the eldest.

.

Fuhrerfran6:
Chai...your brother is lucky to have someone worry about him so much. I pray he uses his chances well...if I had someone carry my problem for head like this, life would be easier.

There is eurobond which is a usd denominated investment, you can also do commercial paper with First Bank Quest if the amount you are investing is huge, contact your bank to ask them for other options you may have.

Alaska90:
Please can anybody help with foreign currency denominated investment with any Nigeria bank

Can you name any please?

How much do you think brand new Toyota Camry cost in Nigeria? Is that not a car

thebargainhunte:
Hmm...how much is brand new car again in Nigeria??

Please dont take it personal

thebargainhunte:
I hear you... I think you are talking for yourself.

That is the fact, developed countries are programmed in a way that you make the money there and still spend it in their economy, if you want to have savings..you must work more than average.

Sholapey:
My take home is €3200 per month after tax. I also get payment of €400 child benefit on all my kids monthly making €3600. My hubby earned more than me because his daily rate is slightly above €350 as IT Engineer But you know what?Owo eko, eko lo ngbe. We spend alot on bills.

Some will not regard using of mopols as a show off, do you pay tax in Nigeria? If you own a car in Nigeria do you pay for a packing space when you go to eateries? In most developed countries you pay for this things..take that as the cost of diesel for your sound proof in Nigeria...In some developed countries you even pay for the hot water you use to take your bath. No country has it all!

chigo4u:
This matter is overflogged, people have their differences and should do what they want. When I talked about moving to sane societies, not everyone will like to be guarded by mopols wielding guns around them and their family, will you also fix bad roads in your vicinity with your $100m? How about the monies spent on running and maintaining your soundproof which could have been channeled to other things.
Yes Nigeria is good for the rich especially those that like to show off, but some people don’t like that kind of lifestyle.
People want you to be patriotic but the politicians who benefit directly from Nigeria all have their families and assets abroad and in foreign currencies.

In Nigeria your 100M can provide you most of those things you call good life in developed country, you can own a brand
new car,electricity.. you can get a brand new sound proof which someone in the next room will not hear the sound and still enjoy constant power supply,security..you can use your company to get a well equiped mopol.. see i dont live in Nigeria myself but i go back to Nigeria every year and i can tell you that in Nigeria your money can get you most of those things you enjoy in developed countries. With 100M in your account or assets in Nigeria i can guarantee you that you can get visas of almost all the countries incase you need to go for medical tourism or vacation with your family.

Thisnut:
The reason why millions of Americans are now queueing on food stamps and don't have the 10% of 250k usd is simply because of the lack of saving culture over there, not because of unemployment or suffering .

An average American don't have fear for tomorrow, you get unemployment benefits when you lose your job, social security benefits kicks in as soon you're medically unable to work or as soon as you're 65years, This is the reason they live from paycheck to paycheck and have no reason to save up.

Unlike Nigerians, too many fear of the unknown, they accumulate wealth for fear of everything, very competitive, and to oppress their friends and family, in the process they develop high blood pressure, heart related issues because they don't know when to stop. When he dies young, people start saying he was a ritualist, meanwhile he died of restlessness.

It's very illogical to say you're better because have 100m naira. Have you put the quality of life into consideration? You have 100m naira, yet you're sleeping in darkness or at the mercy of the noise of generator from your neighbors, you have never driven in a comfort of a brand new car, never been to vacation out Africa, never had great medical care, never had a family picnic, or you do is work work and save because your are scared of getting broke.

Big and small business owners in the United States are being bailout by the government as we speak per the covid 19 because they have to be back in business. what happens to the Nigeria corporations and small business owners in Nigeria right now? Perhaps eating their capital as we speak.

You can have money and still live below poverty line and you can have little and live like a king. Most landlords in Nigeria think on buying the next plot of land and next bag of Cement, while the tenant thinks about drinking the next bottle of beer with pepper soup and stanby gen disturbing the peace of the landlord. Savings is relatively subjective

I will advise you to keep that money in foreign currency and invest it in any foreign currency denominated investment portfolio, the rate may be low but it worth it. Contact your Nigerian bank to know what foreign currency denominated investment they have available.

Topson88:
Cc emmenuelelewunmi, ahiboilandgas, sholapey

I work and live in the UK, before now my plan was to convert all extra pounds to naira which is to be invested in my MMF account monthly and using 20 percent of what i have in my mmf account to increase my holdings in zenith and uba shares during September/ October bear periods in NSE market ( stock investment plan is for long term except if i acheive 150 percent gain then i can sell off to buy again when stocks fall )

Q1. With naira struggling at the moment do you think i should continue with my plan or hold on to forex till tbills and mmf rate increase?

Q2. Do you as a long term stock investor sell at all irrespective of how much percent gain you get as long as fundamentals remain solid and if you sell, is my 150 percent exit target ok or you think 200 percent is not bad.

Q3. Please how do you deal with omo onile problem when buying lands. I have heard nasty experiences from friends and family members.

N.B please pardon my ignorance, the enlightenment in business and finance management i have is being acquired here and on NSEMPA nairaland thread.Thanks

Emmanuela of Mark Angels Comedy is in Nigeria and should be earning more than a thousand dollars in Nigeria monthly, how many kids are earning that in Nigeria, you see everybody cannot earn thesame. That youtuber kid you quoted how many kids earn like that in America? Do you think Emmanuela will think of relocating to Canada now..NO! Like Ahib said people who are not doing so well in Nigeria and still young may relocate but people who are already established in Nigeria and earning a reasonable income should stay put instead of going to canada to become uber driver.

chigo4u:
I’m telling you what I know and what I see not what I heard. I’ve given you an example with big youtubbers who earn about that. I’m not saying everyone earns that but many people who know what they are doing, even kids less than 15 years, no need derailing this thread else I’ll show you many evidences of what I’m saying.

Someone who is worth 100M in Nigeria and still have a business have no reason relocating.

To most Nigerians who have never travelled out from Nigeria obodo oyibo to them is a fantasy land where people pick money from the streets, like someone said here the fact is that most people who move to the west from Nigeria are either going broke in Nigeria or running out of ideas. Wealthy Nigerians are living in Nigeria and wealthy Nigerians in diaspora are moving back to Nigeria to invest and settle down.

Im just hoping this your prediction works!

Theconglomerate:
What has the supplied got to do with anything?
Did you not see what happened in 2017?
Immediately the CBN smells the sign of oil increment above $50,they will fight for the naira with all their might,forgetting what they have lost in what they've already sold at low prices.It has happened before so it is not up for debate.
This time around they are even talking about supplying fx for strategic imports,but in 2016 they supplied nothing for no reason,that should tell you how temporar this fx scarcity of this year is going to be.

Are what numbers coming down?Do the number of covid19 cases need to come down before the rest of the world say fùck it and continue with economic activities?
It's like you are not getting it,come next month,everywhere will open,whoever dies dies...
So yes,oil is going to rebound very soon.

Investing in usd is good but this is not the best time to buy dollars, buying dollars is dicey as it stands now, i would rather advise him to wait a bit if he wants to invest in usd. I have huge funds siting idle in my account for more than a month and im just wishing and praying that usd drops so that i can convert all to dollars, i think i will never keep more than 10M in naira from now if im lucky to esacpe devaluation this time.

Sholapey:
Change that money to dollars and put it in usd fix income with fbnquest. Rate is 6% and above.

Very true

emmanuelewumi:
There is a difference between 90% of bank deposits and 90% of bank customers.


2% of bank big customers can have over 90% of bank deposits

I am sure most people will prefer to have 10billion Naira in Nigeria, what i was actually trying to say is that 10billion Naira in countries with good economy and a better living standard is not actually a big deal. My Singaporean friend has an apartment worth 350k usd,still active and working,can afford simple things to sustain life and still sees himself as poor. Most people who are worth 350k usd in Nigeria will see themselves as either rich or wealthy.

emmanuelewumi:
That is debatable will you rather have your $4 million there or your N10 billion here

I will rather have my N10 billion here sha

It is a total jamboree, i think this is one of the reasons they go broke within a short period of time.
Blood money, easy come..easy go!

emmanuelewumi:
They actually earned the money for 4 years, working an average of 20 hours per week, for less than 30 weeks in a year. They have vacation of about 22 weeks in a year

It is one of the reason Nigeria is regarded as poverty capital of the world, in the country i live someone who is worth 4million usd is still seen as a beginner.

emmanuelewumi:
Less than 100,000 Nigerians have N10 billion. That is less than 0.05% of the population. A report from CBN has it that less than 2% of Nigerian bank customers have 500k in their accounts

If this is true then i think most of them have the embezzlement mentality,always thinking they will steal from somewhere to continue their lavish lifestyle, i see no reason why someone who earn 300 million naira per annum will not save atleast halve of it.

emmanuelewumi:
Most are not wealthy, four years after they are out of office they are usually broke

The bolded is correct, however as the Nigerian economy is unpredictable i still think someone need to have atleast 10 billion Niara worth in assets, investments e.t.c to be able to stand all weather in the Nigerian economy

emmanuelewumi:
N10 billion is huge by Nigerian standard

A person with assets and Investments that is worth N2 billion and get a minimum residual income of N120 million from the Investments and assets every year is wealthy. He must also be able to save and reinvest a minimum of 20% of the income generated.

It really depends, some might be rich and others might be wealthy. A legistlator who make 300 Million per annum might decide to flex 280 million on travel,side chicks,liquor, super cars e.t.c and save only 20million per annum, i will classify those as rich while another legislator will use only 100 million as expenses and save 200million, i will classify those as wealthy.

emmanuelewumi:
Since our legislators at the National Assembly earn an average of N300 million per annum, can we say they are wealthy?

A person who save atleast 10million Naira monthly and have atleast 10billion Naira in assets,investments,business,cash is a wealthy Nigerian in my own definition.

emmanuelewumi:
Good definition



So what is your definition of a wealthy Nigerian

In my own classification, anybody who save atleast 1million naira monthly from business, salary, investment e.t.c in Nigeria is rich.

Diyke4rich:
Good morning everyone in the house, out of curiosity what will one might have achieved to be classified as rich person or a millionaire in nigeria note i am talking about billion, example house, business, car and save's, how much?

Well except the bolded, i use to be like that but people showed me the other side of the world and took my kindness for weakness, now there is no kind of problem from friends/family that will make me to touch funds which i have decided not to touch (except my aged mother), i don't say you should not help but you must always have a limit and stand on that limit, see there is a way to discharge them when they bring their problems, just form story of a problem which never existed and tell them i bet you they will start to pity you and will not have the gut to come next time, sometimes it is easy to get to the top but to remain on top you must use your number six!

Barrytone:
If I attempt savings account then all the money will disappear. Any weekend I miss to invest on Friday, before Monday I loss nothing less than 300k. The weekend must have impacted on my capital. I can't stop givingnout money except I don't have. Reason o invest/ safe keep my capital where I can't reach readily. Nobody's problems can make me terminate my investment.