unite4real:


They are a one stop bank. There is a high likelihood that the first person u meet at the customer service understands your investments request or enquiry without tossing you around.

On negotiation of bids, they are also at the fore front

You are very correct sir, No rough play dealing with them online and offline.

Akin3891:


Thanks a million, you've done well for breaking this math for me. How do you come about the 5m premium fee on the 50m investment? And do you think this (fbnquest) rate makes sense, or is there a chance to get a better rate with stanbic? Also, is it possible to get less than 3yrs tenure from stanbic? It's my first time with fgn bond, merci

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

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

He should buy dollars at 460 naira to invest in fixed income in the US that will yield 6% growth annually in an unstable time like this?
What if he buys it and oil rebounds and naira appreciates to the 370 range?
Will the 6% income he has made be able to cover that for excess naira he paid for the forex?
I don't know where that herd mentality came from amongst Nigerians that gives them a false sense of safety anytime dollar is mentioned
So much authority on very weak economics.
Akin3891,if you have that 55m truly,you know deep down you should be getting a commercial property in a very good location rather than looking for any nonsense fixed deposit,especially in times like this.
Better tell yourself the truth and stop asking kindergarten questions,like you stole the money or something.

CBN Refuses to Sell OMO Bills to Investors
https://businesspost.ng/economy/cbn-refuses-to-sell-omo-bills-to-investors/

@Akin3891.
Currently;
Invest.55,000,000/460=$119,500....
Now interest rate at 6% yields..
0.06×$119500=$7173 annually.
Now invest.+6%interest=$126738
Now when repatriating that fund back to Nigeria after a whole one year when a lot must have transpired,
If the exchange rate worsen or stays put which is highly unlikely for political reasons,you are in luck...
$126,738×460=N58,300,000.
But if naira rebounds to the original rate which is bound to happen,especially over a year's period;
$126,738×365=46,250,000 approximately.
Now tell me,would you want to lose almost 10 million naira over an investment that even if everything stays equal over a year which is very unlikely to happen will only yield you 3,300,000 naira untop a 55m investment?
There is nobody on earth that made this money that will want to take this risk,not even someone that inherited it

Theconglomerate:
He should buy dollars at 460 naira to invest in fixed income in the US that will yield 6% growth annually in an unstable time like this?
What if he buys it and oil rebounds and naira appreciates to the 370 range?
Will the 6% income he has made be able to cover that for excess naira he paid for the forex?
I don't know where that herd mentality came from amongst Nigerians that gives them a false sense of safety anytime dollar is mentioned
So much authority on very weak economics.
Akin3891,if you have that 55m truly,you know deep down you should be getting a commercial property in a very good location rather than looking for any nonsense fixed deposit,especially in times like this.
Better tell yourself the truth and stop asking kindergarten questions,like you stole the money or something.

I agree that converting a lump sum into USD will be a huge mistake.

Your statement about false sense of security regarding dollars though. This is something that has been argued here a lot, but the numbers over the years don’t lie. The fact that we have to pray for crude oil prices to rebound for Naira to appreciate is reason enough for people, especially Nigerians to behave that way towards the USD. The fact that the CBN has to spend USD to buy back naira is proof that hedging with the USD is smart to an extent. Except you have a business or investment that more than makes up for the loss relative to the USD, by all means go ahead and hedge as you like in a smart way.

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

It is not advisable to change 55 million naira to USD at this period. If the money is already in USD, he can invest as advised.

dipoolowoo:
CBN Refuses to Sell OMO Bills to Investors
https://businesspost.ng/economy/cbn-refuses-to-sell-omo-bills-to-investors/

And all those money waiting for next bid with huge oversubscription promoting a lower rate.

I wonder how long CBN will keep up with this Hardline policies.

Their operation is more or less kalokalo style

Theconglomerate:
@Akin3891.
Currently;
Invest.55,000,000/460=$119,500....
Now interest rate at 6% yields..
0.06×$119500=$7173 annually.
Now invest.+6%interest=$126738
Now when repatriating that fund back to Nigeria after a whole one year when a lot must have transpired,
If the exchange rate worsen or stays put which is highly unlikely for political reasons,you are in luck...
$126,738×460=N58,300,000.
But if naira rebounds to the original rate which is bound to happen,especially over a year's period;
$126,738×365=46,250,000 approximately.
Now tell me,would you want to lose almost 10 million naira over an investment that even if everything stays equal over a year which is very unlikely to happen will only yield you 3,300,000 naira untop a 55m investment?
There is nobody on earth that made this money that will want to take this risk,not even someone that inherited it

Financial analysis is not a certainty it’s a probability. What then happens if crude oil prices drop more? What happens if naira depreciates more relative to the USD?

Behold another kalokalo instructions from CBN to banks and to us.

You can't even buy and pay for any phone over 40k Naira from Amazon or AliExpress right now.

Why Bitcoin no go dey jump

unite4real:


And all those money waiting for next bid with huge oversubscription promoting a lower rate.

I wonder how long CBN will keep up with this Hardline policies.

Their operation is more or less kalokalo style

They should just hope crude oil prices stabilise, else in months to come they will be the ones begging with higher rates.

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.

unite4real:
Behold another kalokalo instructions from CBN to banks and to us.

Hahahahahahahahaha!

All road pointing towards “it will end in tears”.

GonFreecss1:


Financial analysis is not a certainty it’s a probability. What then happens if crude oil prices drop more? What happens if naira depreciates more relative to the USD?

And do you mind telling me that magic that has happened that will make the price of oil stay low for over a year or even drop more?
It has started rebouncing already as we speak.
The only thing that can frustrate crude is alternative energy.
Have you not been following the current wave of countries preaching to its citizens how they just have to learn to live with coronavirus?
Don't that tell you that economies will soon open FULLY,covid19 or not?

unite4real:
Behold another kalokalo instructions from CBN to banks and to us.

You can't even buy and pay for any phone over 40k Naira from Amazon or AliExpress right now.

Why Bitcoin no go dey jump

Emefiele, we dey watch.

Theconglomerate:
And do you mind telling me that magic that has happened that will make the price of oil stay low for over a year or even drop more?
It has started rebouncing already as we speak.
The only thing that can frustrate crude is alternative energy.
Have you not been following the current wave of countries preaching to its citizens how they just have to learn to live with coronavirus?
Don't that tell you that economies will soon open FULLY,covid19 or not?

And are the numbers coming down?

Will the “supplied” magically increase in price because of assumed demand due to open economies?

Will nothing go wrong?

Even if we forget all that, you saw what someone else posted about CBN limits on USD spending per month. That is not the policy of a body confident in the value of their currency.

GonFreecss1:


I agree that converting a lump sum into USD will be a huge mistake.

Your statement about false sense of security regarding dollars though. This is something that has been argued here a lot, but the numbers over the years don’t lie. The fact that we have to pray for crude oil prices to rebound for Naira to appreciate is reason enough for people, especially Nigerians to behave that way towards the USD. The fact that the CBN has to spend USD to buy back naira is proof that hedging with the USD is smart to an extent. Except you have a business or investment that more than makes up for the loss relative to the USD, by all means go ahead and hedge as you like in a smart way.

Yes,hedging with USD is false sense of security,especially in a volatile economy like Nigeria where politics is placed well ahead of economics,unless a person will want to relocate in times of crises such as this,which still won't matter unless you hedged with some good numbers,like $1m+...
So rather than being under probability both ways,why not hedge with something real,especially for someone says he has 55m naira to invest?
Everybody knows this.
Also if at all a person wants to hedge,will you hedge when you are already in the midst of the crises with currency?
Hedging with currency is done in normalcy,not in times like this.
That is the most risky stuff I've ever heard

Theconglomerate:
And do you mind telling me that magic that has happened that will make the price of oil stay low for over a year or even drop more?
It has started rebouncing already as we speak.
The only thing that can frustrate crude is alternative energy.
Have you not been following the current wave of countries preaching to its citizens how they just have to learn to live with coronavirus?
Don't that tell you that economies will soon open FULLY,covid19 or not?

The same argument I had with a guy this morning. I said crude oil has seen the lowest of low and I don't think it will go low again.

GonFreecss1:


Hahahahahahahahaha!

All road pointing towards “it will end in tears”.

Let me join you to laugh... Hahahaha...

GonFreecss1:


someone else posted about CBN limits on USD spending per month. That is not the policy of a body confident in the value of their currency.

Absolutely correct.

GonFreecss1:


And are the numbers coming down?

Will the “supplied” magically increase in price because of assumed demand due to open economies?

Will nothing go wrong?

Even if we forget all that, you saw what someone else posted about CBN limits on USD spending per month. That is not the policy of a body confident in the value of their currency.

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.

IamR:

The same argument I had with a guy this morning. I said crude oil has seen the lowest of low and I don't think it will go low again.

It is not going low again,not even by 5 dollars.
It is clear,whoever is speculating with currency should start planning to exit now.
It is not going to last forever.

Theconglomerate:
He should buy dollars at 460 naira to invest in fixed income in the US that will yield 6% growth annually in an unstable time like this?
What if he buys it and oil rebounds and naira appreciates to the 370 range?
Will the 6% income he has made be able to cover that for excess naira he paid for the forex?
I don't know where that herd mentality came from amongst Nigerians that gives them a false sense of safety anytime dollar is mentioned
So much authority on very weak economics.
Akin3891,if you have that 55m truly,you know deep down you should be getting a commercial property in a very good location rather than looking for any nonsense fixed deposit,especially in times like this.
Better tell yourself the truth and stop asking kindergarten questions,like you stole the money or something.

Good points but u always scatter it toward the end with abuses ...pls cool down a bit and be civil

unite4real:
Behold another kalokalo instructions from CBN to banks and to us.

You can't even buy and pay for any phone over 40k Naira from Amazon or AliExpress right now.

Why Bitcoin no go dey jump

Now, this is serious.

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.

is this the same tomato seller that I know.....lol

I coverted 60000 k dollars to 10m to invest in tb in 2014 at and average yield of 10 percent..made around 17m in 6 years ....if i kept my money in dollars at even 3 percent =65000x420 =28m in 2020

The poor rate in tb has a cycle ...we where doning poor rate of 4.5 ,7 etc back then but inflations was single digits and naira stable for a decade

New investors should learn....start now it has been a long bumper ride of living below my means

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.

ahiboilandgas:
New investors should learn....start now it has been a long bumper ride of living below my means

ok

Theconglomerate:
He should buy dollars at 460 naira to invest in fixed income in the US that will yield 6% growth annually in an unstable time like this?
What if he buys it and oil rebounds and naira appreciates to the 370 range?
Will the 6% income he has made be able to cover that for excess naira he paid for the forex?
I don't know where that herd mentality came from amongst Nigerians that gives them a false sense of safety anytime dollar is mentioned
So much authority on very weak economics.
Akin3891,if you have that 55m truly,you know deep down you should be getting a commercial property in a very good location rather than looking for any nonsense fixed deposit,especially in times like this.
Better tell yourself the truth and stop asking kindergarten questions,like you stole the money or something.

Am done with the useless and God forsaken currency called Naira ..if Dangote can open office in New York to invest in teach companies in order to retain the value of his wealth on behalf his family then u i be...look at the vp asset declaration 1m pound , look at makinde 2.5 m dollars ....so why me go hold naira when 90 percent of things i use now and future will be affected by depreciation...i used to buy p axalzin drug for 550 naira now 1.100 naira ...