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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4705091 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by chigo4u: 10:12am On Aug 28, 2020 |
ahiboilandgas:Oga it doesn’t work that way, your inflation is nearing 13%. Tbills rate almost in the negative. Why must the masses who want to save their money in any currency near the brunt? You would have had a point in you are asking FG to remove subsidy entirely on pilgrimage and others not telling people what to do with their money. If cbn shuts dorm account, many offshore companies will be waiting to take over causing more damage 4 Likes |
Re: Treasury Bills In Nigeria by einsteine(m): 10:12am On Aug 28, 2020 |
ahiboilandgas: Duh. Nigerians are one of the highest holders of cryptocurrencies. I am talking billions. You are talking about cash dollars, lol 2 Likes |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 10:14am On Aug 28, 2020 |
ojesymsym: It's not a poverty thing. I used to think that way too until I worked in Kano for 2 years. I forgot my phone one time in a Keke Marwa and the driver brought it to my hotel. When I told my friends at work, they all testified to how many of those occasions they have witnessed severally. I don't like bringing race to the matter. But what is very evident is that there are some particular ethnic groups in Nigeria that are most likely to be dishonest, cruel and possess a lot of theft tendencies. So let's stop pretending an average Nigerian doesn't have issues. It's not all poverty. North is the poorest region in the country, and by that half baked analogy, they shouldn't be honest. 10 Likes |
Re: Treasury Bills In Nigeria by Cyberknight: 10:15am On Aug 28, 2020 |
einsteine: Of course the banks lend out the monies deposited with them in whatever currency. That's what they're there for. |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:17am On Aug 28, 2020 |
einsteine:what has vp done with the 1 million pounds holding since 2015? instead it grew to 1.2m pounds ..which Nigerian bank can lend 500m dollars on a long term of 10 years to a local company .....how long u beem in your banking ......on land is called speculation...on the c/o u agreed to develop max 2 years if not the state can revork ur title ...land speculation dont hurt the naira ....it retard development and it localised.. U just learning i guess the ropes of Nigeria .. 1 Like |
Re: Treasury Bills In Nigeria by Cyberknight: 10:18am On Aug 28, 2020 |
Tobex4realTobex234: Yet the governments across Nigeria happily steal and engage in other anti-people acts, no matter their tribe or ethnic colouration. And let's not say its the politicians as against the populace - everyone was once a general member of the congregation before ascending to positions of power. 5 Likes |
Re: Treasury Bills In Nigeria by ojesymsym: 10:18am On Aug 28, 2020 |
agreed 100% Tobex4realTobex234: |
Re: Treasury Bills In Nigeria by einsteine(m): 10:19am On Aug 28, 2020 |
ahiboilandgas: Companies are borrowing in dollars everyday. I have read quite a few Credit Approval Memos where the currency was dollars. Also, many loans these days are hedged. That's why there is a forwards market. Besides, you don't make money without a little risk. And there's no problem even if the dollars lie idle. Those dollars could as well be offshore. They are not the entitlement of the Nigerian government. Nigerians have been so used to governments of force and centrally planned economy that the concept of a free market flies over people's heads. If people don't want to hold Naira, you can't force them. There are banks in Cook Islands right now that would open an offshore account for you right from your home and they are full reserve banks. Pretty sure they will be happy to accept Nigerians' idle cash. 4 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:20am On Aug 28, 2020 |
einsteine:yes husppuppy and Burberry held over 12m dollars on cypto....so we know the source of the dirty income.. |
Re: Treasury Bills In Nigeria by TransAtlanticEx(m): 10:20am On Aug 28, 2020 |
ahiboilandgas:So you think banning dorm account is the solution? Since you seem not to know the problem,let me help you; Nigeria is a very unstable economy where you can wake up tomorrow and hear its currency has depreciated or collapsed,so since it's people know this and have no faith in their gworo chewing leaders,the prefer to keep their savings in stable foreign currencies. Again,a bulk of these guys aren't speculators like you label them but are just protecting their money's value. So if you ban dom account,people will still buy the dollars and keep in their houses just like they are doing now that banks no longer pay dollars to dorm account holders. Fix the shithole first before you come up with funny policies that can easily be bypassed by a 4 year old child. My mama be dey keep big trading money for inside kom-kom,then imagine wetin dem go do to dollars wey fit enter even inside person nyarsh Go to stable countries around(Cameroon,eq guinea,benin,etc..) and see the faith people have in their currencies,do you think it's because they don't have access to dorm account in their countries? You think they don't know they can go to any aboki close by and by dollars and keep in their socks and inside their girlfriend boobs? They do but because of the sheer stability of their various currencies,they know converting theyr money to fx is useless and they will lose as price will never increase,unless of course shithole Nigeria currency have problem again and then Nigerians start putting pressure on their local currency market again like now,dollar jump from 550xaf to 610xaf because shithole Nigerians can't manage their affairs properly What a pain in the ass country. 12 Likes |
Re: Treasury Bills In Nigeria by einsteine(m): 10:20am On Aug 28, 2020 |
ahiboilandgas: Sorry but you are remarkably uninformed. 1 Like |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:23am On Aug 28, 2020 |
einsteine:u are encouraging criminalilty...tell the chinese govt that that u wan hold dollar by force ....free markets an advertise by the west is not the only principle to develop ....control markets like shown by communist party have lift 500m Chinese out of poverty... 1 Like |
Re: Treasury Bills In Nigeria by einsteine(m): 10:24am On Aug 28, 2020 |
ahiboilandgas: Lol, okay sir. 1 Like |
Re: Treasury Bills In Nigeria by ojesymsym: 10:26am On Aug 28, 2020 |
The countries you listed earlier are not import dependent. Nigeria is over 80% import dependent. einsteine: |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:29am On Aug 28, 2020 |
einsteine:mr informed tell.me the percentage of dorm saving or holding loan out by your bank in proportion to total dorm holdings to Nigeria firms... |
Re: Treasury Bills In Nigeria by Cyberknight: 10:30am On Aug 28, 2020 |
Economic theory loading .... neoliberalism as opposed to elements and extent of government regulation - the free market is not usually the best way for a country to arrange its affairs, most definitely not. The reason why the United States, for instance, is so polarised and Germany, for instance, is not. |
Re: Treasury Bills In Nigeria by Crazeworld(m): 10:31am On Aug 28, 2020 |
ahiboilandgas:Why would you say that? If I choose to keep my money in crypto so as to protect against naira inflation, how can you fault me for not keeping it in naira? I was lucky to sell around 450 though. Rate has dropped below 410 4 Likes
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Re: Treasury Bills In Nigeria by pluto09(m): 10:32am On Aug 28, 2020 |
Crazeworld: I got out of all my dollar position on binance this morning when I read the story of how CBN will start selling dollars to bdc as from next week. Naira dollar trading on crypto sites mimic the black market rate. I expect a fall in black market rate, the extent of which will depend on how far the CBN is willing to go in providing funding for the forex market. 2 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:34am On Aug 28, 2020 |
TransAtlanticEx:making no sense or points to me the those countries have 1 billion euro each in france inreturn for cfa ...this are mushroom nations trying to wean off slavery and manipulations. Some member have even applied to withdraw their 1 bn euros from france central bank ....they dont control the currency .....talk of countries that have same parameter like Nigeria... 2 Likes |
Re: Treasury Bills In Nigeria by pluto09(m): 10:37am On Aug 28, 2020 |
Crazeworld: Sold at 469 and will be waiting to go in again when and if price drops below 400. I don't gain anything by arguing with market or complaining about what the CBN is (not) doing. I am out to take advantage of whatever happens in the market to make some money. 17 Likes 2 Shares |
Re: Treasury Bills In Nigeria by ojesymsym: 10:40am On Aug 28, 2020 |
lol. This is really nice. You listen to the arguments and take your position. pluto09: 10 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:42am On Aug 28, 2020 |
Crazeworld:lucky u ...3 party agent on form m has been stop too meaning less false letter of credits by importers ... |
Re: Treasury Bills In Nigeria by Crazeworld(m): 10:43am On Aug 28, 2020 |
pluto09:Truly, information is power... 2 Likes |
Re: Treasury Bills In Nigeria by einsteine(m): 10:50am On Aug 28, 2020 |
ojesymsym: That's of no relevance to my submission. When the Nigerian auditor at KPMG sees his pension not keeping up with inflation and decides to hold some foreign currency to protect himself, it does not cross his mind that Nigeria is an import dependent country. Even @ahibooilandgas here has been holding dollars (from his posts) and complaining of inflation, why doesn't he offer his dollars to the foreign reserve of the CBN at 360 Naira to a dollar 6 Likes |
Re: Treasury Bills In Nigeria by Crazeworld(m): 10:50am On Aug 28, 2020 |
pluto09:I think you have a point here. I don't understand mathematics either but whether naira against the dollar is 500 or 300, what is the point if you don't benefit anything financially? If a mudu of rice sells for 2k, everyone still needs to spend the naira to purchase it. I don't think I will pass up the opportunity to increase the amount of naira I have...legitimately. |
Re: Treasury Bills In Nigeria by einsteine(m): 10:53am On Aug 28, 2020 |
pluto09: The price would drop then go back again. The CBN position is not backed by fundamentals. They can't keep up with the demand in the long term. People are waiting with billions (just like you waiting for it at 400) to snap at any cheap dollars. At the end of the day, the foreign reserve will be depleted. It is a bazaar for speculators and currency hustlers. 2 Likes |
Re: Treasury Bills In Nigeria by ojesymsym: 10:54am On Aug 28, 2020 |
I cannot blame individuals who hold USD, I do also. My response was where you say free market worked in those countries and so must work here. By free market, except of course I do not understand what you meant by free market einsteine: |
Re: Treasury Bills In Nigeria by einsteine(m): 11:02am On Aug 28, 2020 |
ojesymsym: The market works whether the government likes it or not. In Zimbabwe, people refused to transact with the government issued currency. I stated that those countries tried to go against the markets and failed/are failing. For example, in 2015, people around the world saw the Swiss Franc as a stable currency and started converting dollars and euros and yuans to it. The Swiss tried to prevent this because an appreciating currency hurts their export. They couldn't because the market always wins and the CHF eventually appreciated. Putting obstacles to free markets would always lead to undesirable consequences, in our case, the depletion of the foreign reserve, economic uncertainty and eventually Investor apathy 2 Likes |
Re: Treasury Bills In Nigeria by pluto09(m): 11:04am On Aug 28, 2020 |
einsteine: Yes, I expect the price to drop and then go back up again. One has to be on top of his game as a speculator. The CBN does not have enough dollar to meet all the demands, they are just trying to manage a delicate situation and in all honesty I can't blame Meffy. |
Re: Treasury Bills In Nigeria by pluto09(m): 11:09am On Aug 28, 2020 |
Crazeworld: I have always been an advocate of free market and my position has not changed. If those who are in charge of the country economy think otherwise, the best I can do for myself is to take advantage of their foolishness. 7 Likes |
Re: Treasury Bills In Nigeria by 0neal(m): 11:10am On Aug 28, 2020 |
DexterousOne: Good day Sir You can recommend those APP he listed? |
Re: Treasury Bills In Nigeria by ahiboilandgas: 11:22am On Aug 28, 2020 |
einsteine:very true i hold a dollars position to mitigate my cost of procurement oversea...i buy truck tyres ,rim,injectors ,truck heads ,discharge valves from my dollar holdings ....i work in a regulated enviromemt and cannot increase prices in naira to reflect devalutions...example.Apapa to airport is125000 per trip for over 2 years but tyres have jumped from 55k to 80k ....while dstv has increase price to 18500 while me am stuck... |
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