Ibime:
It just barely passed it so more like 7.5m in 2023

When we get into the particular stocks you were holding, it will likely be under 4m or 5m unless you were primarily holding the likes of Airtel, Dangote cement, MTN, BUA cement, BUA foods, Nestle, Zenith, Guaranty Trust and Nigerian breweries which make up over 80% of the capitalisation of the index

Those days na Dangote Cement, Flour Mills, Intercontinental, Zenith Bank, Daar communications, Oceanic Bank, First aluminum, CAPL, Nigerian Breweries Guinness etc.

So if after 16-17yrs you are breaking even plus time value of money

https://www.nairaland.com/7887008/naira-crashes-1210-us-dollar


sai! tinubu, tinubu till 2045!

Ibime:
https://www.nairaland.com/7887044/tinubu-moves-clear-10bn-forex

I don't think we understand the meaning of the above, that means say our Foreign Reserves don't exist. £20bln committed to importers and foreign companies and they haven't been able to honour any since February

Shey na PDPGuy say N2k by December, maybe before November finish oh

For context, Nigeria spends $12bln a year just a maintain the same price of Naira to dollar

Tinubu ontributed to the sharp rise in the demand for Dollars. He paid for all the fake APC primary candidates,he paid loads of them hundreds of thousands of Dollars to withdraw.

Remember how Obi was mocked here for not having the facilities to induce party delegates either in APC and PDP with dollars,it was a thing of brag here then...

Tinubu uses Dollars in bribing his way. Demand for Dollars with a BAT will never abate...

Omo.

raumdeuter:


Well said, I was young just starting my career and I had enough time to bounce back. Imagine this happened to a 55yr old man heading towards retirement whose entire work got wiped out. How long will he wait to bounce back

How much loan deferment and how will you run normal life with this major setback, Banks will probably sell collaterals befor you bounce back fully

Hmmm - you just reminded me of those dark times; All I can say is Alhamdulillah, cos nothing prepared me for it.

Ibime:


Rate of return in Naira abi dollars?

Anything asking people to change dollars to invest in Naira denominated stocks at ATH is the work of village people

Though NGX recently surpassed 2008 highs, it is still ten times less in dollar terms, and most NGX gains are driven by a handful of companies

Only reasonable explanation, cos the flogging I collected from Naija stock exchange e go hard my village sef to get me this way again

Amigoss:
Tinubu ontributed to the sharp rise in the demand for Dollars. He paid for all the fake APC primary candidates,he paid loads of them hundreds of thousands of Dollars to withdraw.

Remember how Obi was mocked here for not having the facilities to induce party delegates either in APC and PDP with dollars,it was a thing of brag here then...

Tinubu uses Dollars in bribing his way. Demand for Dollars with a BAT will never abate...

Tinubu and Atiku.

The sharp fall of Naira started during the primary. They bought so much dollas to share during the primaries...hence dolla became extremely scarce.

So how are they going to fight against the inevitable crash of Naira when they are the major culprits?

Olowunl01:
Hmmm - you just reminded me of those dark times; All I can say is Alhamdulillah, cos nothing prepared me for it.

If you know how many lives, How many relationships ruined. Person go meet me to introduce stockbroker, I introduced them, they did business together for almost 2yrs. when yawa gas and market crash, Me wey introduce Stockbroker sef hear am

I heard of a Pastor who introduced his congregation massively into Stock market and even invested on behalf of some of them. Well na Police matter come solve the matter cos some church members no wan believe say Pastor no get hand for NSE matter since they were just giving money to Pastor and he was investing on their behalf

A few friends wey we suppose run travel together were comfortably making good money from Stock market, had good careers by end of 2009 after collecting blows from Stock market come lose jobs due to Economic Tsunami of those years

Emaprince:
Tinubu and Atiku.

The sharp fall of Naira started during the primary. They bought so much dollas to share during the primaries...hence dolla became extremely scarce.

So how are they going to fighting against the inevitable crash of Naira when they are the major culprits?

Now they want the citizens to patronise the naira to grow the economy

Ibime:


Rate of return in Naira abi dollars?

Anything asking people to change dollars to invest in Naira denominated stocks at ATH is the work of village people

Though NGX recently surpassed 2008 highs, it is still ten times less in dollar terms, and most NGX gains are driven by a handful of companies

True this. The top companies especially. Though the stock market has been doing really well from the beginning of the year.

People should buy stocks when it's low and can sell when they think they have made profit they want. Its best when investor has time to monitor stocks performance.

This is sad to read

https://www.nairaland.com/7886996/10-companies-shutdown-over-worsening

raumdeuter:


If you know how many lives, How many relationships ruined. Person go meet me to introduce stockbroker, I introduced them, they did business together for almost 2yrs. when yawa gas and market crash, Me wey introduce Stockbroker sef hear am

I heard of a Pastor who introduced his congregation massively into Stock market and even invested on behalf of some of them. Well na Police matter come solve the matter cos some church members no wan believe say Pastor no get hand for NSE matter since they were just giving money to Pastor and he was investing on their behalf

A few friends wey we suppose run travel together were comfortably making good money from Stock market, had good careers by end of 2009 after collecting blows from Stock market come lose jobs due to Economic Tsunami of those years

Bro, too many stories both personal and from others.
I was active on that nairaland stock market tips thread; the fights the fun and the knowledge sharing was unprecendented, different trading patterns from high risk traders like FatherofTwo to ultra conservatives like Wanajo before hurricane Sanusi happened, it was an experience.

A very close wealthy relative got destroyed financially and emotionally by both wonder banks & NSE madness, terrible times. My own as NSE was beating me, property crash followed - european property investment got hammerred, only England properties sustained themselves (mainly because of very low leverage) and recovered to profitability years down the line, the rest were sold at losses, Oju tiri.

So part of lessons learnt is even with investment property it must be something I would be happy to own, pays for it self or desirable enough that I would not find it difficult to find a buyer incase I need to sell.

Incognito9:


If it's crypto to crypto then it's untraceable but this one is fiat to crypto which's traceable.

The bank account that's used to bought the crypto is known, the crypto seller account that received the money is known.

It's P2P transaction

Crypto to Crypto is traceable.

Na wa o. Life is so cheap in this country even with all the prayers and meaningless religious noises millions of Nigerians are making all around. Allah, Yahweh, and fictitious Jesus Christ are so useless.

seankafor:
so why den do you say crypto transactions can not be traced?

Even a coin you send from centralized exchange can be traced.. but this time at the mercy of the exchange providers ..

But anything you do on any Dex can be tracked traced by any third party whatsoever

I thought ibime once said there is how you would mix or mesh the crypto via a certain app and then it becomes untraceable??
Are you saying every crypto transaction is traceable? Every single one?

Seen on nigerian Reddit.
The responding comments were funnier.

Vision101:
A few hours ago I wrote here that the fx rate is purely caused by speculation and roundtripping. There is so much arbitrage going on. Some people in their usual way with political undertone abused us.

I mentioned that a sudden policy will crash all this. I hadn't read this news then. It's basic economics that hence we are import dependent economy and if the consistent upward movement of the rates is a true reflection of the economy then the smallest packet of biscuit would not be less than #500. But this isn't the case. Then something artificial is going on.

Watch out for major policy that will shake naira in the first quarter of 2024.

I will keep repeating this: I'm an Igbo and apolitical. President BAT is the best among the three. He inherited so many problems but will not talk because buhari is from APC. The mess started from two years towards the end of Jonathan's regime but buhari rubbed shit everywhere.

😂

APC bots ain't trying hard anymore,bro still blaming Jonathan wey don retire since, and how does being igbo have to do with anything?

Found SOMETHING in the wild 👀👀👀👀👀👀👀


https://vm.tiktok.com/ZMjbynBAp/

“I am an economist and an investment banker, if the CBN keeps printing money, we will wake up one day and see dollars at N1,000.”

- Governor Godwin Obaseki, April 2021

Emefiele, as CBN Governor, illegally printed N31t for the Federal Government to spend at will without oversight.

DMO was silent

Other Governors were silent,APC e-thugs and e-rats attacked Obaseki with "Edo no be Lagos" jokes

The CBN Board was silent

Supreme Court was silent

NASS was silent

Tinubu asked Buhari to keep printing

The clown up there wants to rope GEJ into APC,Buhari and Tinubu's mess but there are evidence

donjazzet:


I thought ibime once said there is how you would mix or mesh the crypto via a certain app and then it becomes untraceable??
Are you saying every crypto transaction is traceable? Every single one?

yeah there are crypto mixers like tornado cash , Bitcoin mixer, etc... But they ain't that 💯 anonymous as any man that is sophisticated in Blockchain analysis can also track it down..

Go read about zachxbt on x.. he has been bursting bad actors in the crypto space for a while now..

Every crypto transaction is on Blockchain and can be traced.. but the issue is this, these hackers, they launder the hacked money through fake or bought KYC so anytime you track them down, you might be led to a street rat 🐀 in Bangladesh or Nepal or India..
Most of them sell it off through OTC in the black market..
But when it comes to it hitting exchanges, then know that KYC is cheap to bypass.. there is a black market for KYC approved exchanges like binance, paxful etc.. indians can get you 100 KYC approved exchanges to launder crypto..

A001:
Na wa o. Life is so cheap in this country even with all the prayers and meaningless religious noises millions of Nigerians are making all around. Allah, Yahweh, and fictitious Jesus Christ are so useless.

Person lost his life in a tragic manner see wetin u dey write . Smh 🤦‍♂️

U don’t even know if the guy is irreligious , agnostic or atheist but bears a religious name just like u do.

donjazzet:
Seen on nigerian Reddit.
The responding comments were funnier.

U think people traveling abroad don’t already know this and more ? The truth is majority of Nigerians will always adapt to most situations like this one; Nigerians are resilient and mentally tough .

It is normal for u to see few people on social media complain about these things while others are busy adapting to the cultural and emotional shock that comes with moving to a different continent .

If ur motive of moving abroad is to secure a better life/future for u and ur loved ones these things will be the least of ur worries.

Ballzproblemm:
APC bots ain't trying hard anymore,bro still blaming Jonathan wey don retire since, and how does being igbo have to do with anything?

He's a clown, the statement of im Igbo gave him away but to be somehow fair to him bro, I see why he would rope in Jonathan afterall with the consistent looting and highly unchecked misappropriation of funds under his government we were slowly heading there it was just a matter of time, it's just that this clueless government starting from buhari fast tracked everything. Afterall if stuff were at least reasonable as at that time there won't be much leeway for that serial loser to win until he came to a merger with anpp, the pdp and apga faction and his then successor's party.

raumdeuter:


Blueraydick So if I am to follow this. I will just be seeing above 7m in my portfolio in 2023. Now think what 7m can do in 2008 and 10m do in 2023

Even if you are not changing Dollar to Naira and just using Naira income to invest sef, its likely to get a higher yield just saving your money in USD. Before Your favourite stock doubles in value, Dollar is likelier to gain 3 times on Naira

Exactly . That’s why I said his experience is definitely different from urs ; probably he’s not talking specifically about that 2008-2009 stick crash .

Most of the people I know who were affected by the crash then never came back from it in one piece . That incident made me wary of any speculative investment/trade . Na why I no gree do MMM and several other schemes that came thereafter .

BlueRayDick:


Person lost his life in a tragic manner see wetin u dey write . Smh 🤦‍♂️

U don’t even know if the guy is irreligious , agnostic or atheist but bears a religious name just like u do.

Is your name mentioned in the post? If not, stop mentioning me unnecessarily. Abi na you dey bear Allah, Jehovah or Jesus? Silly comment. Whether he's religious or not, it doesn't make any of your gods useful, mr god's mouthpiece

BlueRayDick:


U think people traveling abroad don’t already know this and more ? The truth is majority of Nigerians will always adapt to most situations like this one; Nigerians are resilient and mentally tough .

It is normal for u to see few people on social media complain about these things while others are busy adapting to the cultural and emotional shock that comes with moving to a different continent .

If ur motive of moving abroad is to secure a better life/future for u and ur loved ones these things will be the least of ur worries.

All these mullatos we see on live matches and music industry bearing African surnames both anglophones and francophone sides were not impregnated by spirits. I don't even know what I'll be looking for with a fellow japarian like me when I'll gradually adapt to my surroundings, city no matter how large, learn some or much of the lingo if it ain't English and gradually broaden my group of socials over the years. If konji is holding anybody brothels and ladies of the night are there though you will spend your earnings afterall no one has said anything about the oldest profession in history going extinct.

Nigeria, one of the top 5 most prayerful countries in the world, has one of the lowest life expectancies globally. In the 2023 ranking of countries by life expectancy done by Worldometer, Nigeria occupies the second to the last position (200th out of 201).

The billions of prayers recited daily in the country by millions of Nigerians are useless.

Prayers are mere wishes, and the wise don't rely on mere wishes to solve life's problems like most Nigerians do.

Praying should be a last resort for an intelligent person. If possible, it's better avoided.

seankafor:
Who are the people that say those bet influencers edit bets..

Most people saw and won this bet with mrbanks

https://twitter.com/Mrbankstips/status/1715032795414753352?t=NI0x3_6qA8rMgpUFlyJKhg&s=19

460m in this tinubu economy .. if you dey chop am 1m everyday.. e go take you 460 days to chop am finish

https://twitter.com/Mrbankstips/status/1716097850914767349?t=KjtN2cbphKzNDSYZSnzZTA&s=19

Some do. This past weekend was a highly terrible week for most bookies all over the world so expect them to use their dirty tactics to try and recoup some people's winnings alongside jara in the coming weeks especially those obscure or lower youth leagues prone to fixing.
Banks tried though. Putting smiles on the faces of people yesterday in this hard times is commendable. With this massive hit if I were him I would fully quit and face my crypto or more physical investments but the endorsements, cash gained daily through affiliate links when you sign up and his massive online following might not let him do that. He has gone deep in getting a massive fortune from these guys and might still get more but what I still never forget at the end of the day is the house always wins. He might never be affected financially but in other ways like when he's on a lengthy losing streak, see how Mayor of Ekiti was dragged all over X yesterday after banks code came through, someone who has boomed 60m twice this year alone alongside others. If you hit them hard especially superbly hard run.

A001:

Is your name mentioned in the post? If not, stop mentioning me unnecessarily. Abi na you dey bear Allah, Jehovah or Jesus? Silly comment. Whether he's religious or not, it doesn't make any of your gods useful, mr god's mouthpiece

I’m not speaking for anybody I’m only pointing out ur insensitivity . Ur anti-religion stand is turning u into a saddist and u are not even aware of it.

Anybody could’ve have died in such tragic manner by just being in the right place at the wrong time . The guy was killed in a robbery incident for 4ck sake !

Just look at u using his death to score some cheap nonsense point . Smh. One would think u know the guy to be an overly religious person while he was alive .

WhoDeyHause:

All these mullatos we see on live matches and music industry bearing African surnames both anglophones and francophone sides were not impregnated by spirits. I don't even know what I'll be looking for with a fellow japarian like me when I'll gradually adapt to my surroundings, city no matter how large, learn some or much of the lingo if it ain't English and gradually broaden my group of socials over the years. If konji is holding anybody brothels and ladies of the night are there though you will spend your earnings afterall no one has said anything about the oldest profession in history going extinct.

It may take some time but Nigerians will always adapt into the system .

It’s not even like all these issues are just cropping up now, even Nigerians that japa in the late 90’s/early 2000’s faced some of these issues too. It’s just that we are in social media age where people put on camera and ring light over any small thing to give their “fans” content . Na why e dey be like say dem dey make new revelations