ahiboilandgas:
just everthing to destroy Nigeria manufacturing capacity..from rice to edible oil to textile to car to drugs to spaghetti....there is a whole markets selling okrika cloths which is supposed to be a contraband....the smuggler covert the sale from naira back to dollars obtain from the BDC markets and smuggler out to dubai onward China......any time u hear say them arrest aboki or labanese with 3m usd in airport what do u think is happing ....

ahiboilandgas:
just everthing to destroy Nigeria manufacturing capacity..from rice to edible oil to textile to car to drugs to spaghetti....there is a whole markets selling okrika cloths which is supposed to be a contraband....the smuggler covert the sale from naira back to dollars obtain from the BDC markets and smuggler out to dubai onward China......any time u hear say them arrest aboki or labanese with 3m usd in airport what do u think is happing ....

SeaTrade:
I don't blame the smugglers,I blame the government.
Look,where there are huge price differences and incentive,there tend to be smuggling.
You know the funny thing?You can't fight smugglers with forces(police,customs,etc...) especially in a poor and corrupt country like Nigeria where almost everyone is hungry and smugglers have enough money to throw around and tip everyone.
Why are they smuggling Cars?Because your seaport taxes is expensive .
You can only fight smugglers by making whatever they are trying to smuggle unprofitable and uneconomjcal,not wasting money with customs because bros the least money don pass that goods ooo.

ahiboilandgas:
true the Soviet style of enforcement using security men up and down alway fail but with a sound economic policy and zero incentive no body go smuggle any thing....like after removing subsides of deseal ...smugling ended ...instead Niger business men started exporting to Nigeria ( lower grade)..

SeaTrade:
Smugglers don't even need dollars cash sec these days.
What some guys in the US do is to buy all the dollars Nigerians in America are trying to send home,wire for smugglers to china or wherever they want and collect their naira In Nigeria.
But I'm sure that business will soon die with the new CBN policy of withdrawing repatriated funds in dollars,as no one will want to give them again rather pass through bank.

afroxyz:


This guy eh

afroxyz:


This guy eh

SeaTrade:
lol na lie?

SeaTrade:
Diesel comes from Niger to Nigeria?
Oh I see,maybe cos of many trucks that are in the north creating a huge demand for it.
But where do Niger get the diesel from?

afroxyz:


Na why i dey hail u

afroxyz:


Na why i dey hail u

ahiboilandgas:
yes from their soraz refinery in zinder it 400km to kano and less than 150km to Katsina ....i have bought several time they even established a trading office in Nigeria .....the problem is the density is low the Nigeria quality is better ..if u have to use it u consume more example we give driver 1300 litres from Lagos to kano return if na Niger republic deseal we give 1400 to 1500 ......the refinery is a 40000 barrel daily capacity they use 20000 barrel and planing to export 20000 barrel via chad /Cameroun export pipelines ....chad have completed the sections of the export pipe it remain Niger using Chinese loan ...NB there is 1 bn barrel of crude oil in chad/lake chad basin .....snipec China is on it....

SeaTrade:
Where is Niger getting the crude it is refining and even wanting to export from?

emmanuelewumi:



Talk to your Stockbroker or Investment advisers, they will make recommendations.

DigitalMallam:

Pls I need advise.
I want to convert part of my Fixed Deposit Fund (Naira) to EuroBond ($).
I spoke to my broker and they gave me conversion rate of 498 to move the fund from Naira fixed income to $ Eurobond.
I had requested same last year I got 483 then, I said it was too high but it seems Nigeria isn't getting better any time soon.

Should I still wait or can proceed.

Cc: any other interested person

ahiboilandgas:
yes

DigitalMallam:

Pls I need advise.
I want to convert part of my Fixed Deposit Fund (Naira) to EuroBond ($).
I spoke to my broker and they gave me conversion rate of 498 to move the fund from Naira fixed income to $ Eurobond.
I had requested same last year I got 483 then, I said it was too high but it's seem Nigeria isn't getting better any time soon.

Should I still wait or can proceed.

Cc: any other interested person

chigo4u:
Is there any bank in Nigeria that pays interest on dorm accounts?

seyisanya:
If the embolden is how you feel at the moment, then go ahead with your plan. However, N498 is quite high except the volume is not substantial. I will advise you liquidate the Naira Fund and then buy your dollars from any of EVERDON BDC or SEBASTIAN BDC. They should be able to sell to you between the range of N480 and N483. If you are in Lagos, you can visit their office to complete the transaction.

I wish you the best!

Tobex4realTobex234:


Excellent advice. I still bought from Everdon in the range of 470s last month sef. Just do their KYC and you're good to go.

It is never too late to change to dollars. Once you make up your mind about how many percentage of your portfolio should be in USD, you won't need to ask this kind of question. I don't know enough details about the peculiarities of your situation, but at the very least try to do 60:40 (USD:NGN).

Three million Nigerians lost N18bn to Ponzi schemes – SEC
Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission stated on Tuesday. Director-General, SEC, Lamido Yuguda, said this during a webinar organised by the commission. Ponzi schemes are fraudulent investing scams which generate returns for early investors with money taken from later investors. They are similar to pyramid schemes in that both are based on using new investors’ funds to pay the earlier backers.....………

seyisanya:
If the embolden is how you feel at the moment, then go ahead with your plan. However, N498 is quite high except the volume is not substantial. I will advise you liquidate the Naira Fund and then buy your dollars from any of EVERDON BDC or SEBASTIAN BDC. They should be able to sell to you between the range of N480 and N483. If you are in Lagos, you can visit their office to complete the transaction.

I wish you the best!

freeman67:


While thinking of liquidating and buying dollar from Bureau de Change, he should also be thinking of how to invest it back to his desired Euro Bond because that is where the difficulty lies. Last week, I tried to deposit dollar to an investment account. The teller asked If the account was mine and told that it wasn't. He then told me to ask the owner of the account to come and deposit himself. I just left without further enquiries.

The next day I was at another branch of FCMB for same purpose. I enquired and was told to fill their registerand fill the teller for it. After several attempts to post, I was told that cash deposits are not allowed into that account. I can only make transfers to the account. That's where another problem lies.

From what I gathered personally, Banks these days are not accepting transfer from a Nigerian bank dorm account to another especially when it was cash deposited. A dollar cash deposit made can only be withdrawn before usage as it is only dollars received through transfers that could be also be transferred to another account. So everything seem complicated..

So, if he is convinced that his fixed deposits should be converted to Eurobond the easiest and less complicated way to do it is to go with his broker especially if he is sure of getting dollars back when his investment matures... Of course that comes with a cost... Transfers in banks are not free too. So he will have to weigh his option and choose what suits him best...

emmanuelewumi:



Too poor, things are looking.

This was mailed to me, but it is too poor for me.