Farolo:


What people like you don't know is the market is fluid and just like water, it must find its level or its way.

Patriotism doesn't build an economy or market. Policies and approach to business does. All you wrote is just hogwash. I apologize.

How many ordinary people trading on the stock market have made a profit? Matter if fact, stocks we bought since 2007 have not even yielded their capital because of the scam and in-trading going on in the NSE.

You treat people like shlt, they flourish and you're trying to stifle them? It won't even work.

You also raised a point about keeping your money in the bank so they can round trip, and "boost the economy" Lol.

These banks make money off you, while you remain poor; this is not putting hyper inflation which has come to be today into consideration.

An example is this. Sometimes in 2020, I ran about ₦30M through my account. Do you know for the months my funds were there, FCMB were stealing from me? Yes literally stealing because the arbitrary charges they were collecting weren't even reflecting in my account statement and they didn’t even send notifications for them.

In all, the CBN made a wrong call and they will lose more because

1. THEY CAN'T BAN BITCOINS.

2. Nigeria was just beginning to be a global hub for fintech. That's gone now.

3. Jobs will be affected and you know the funny thing, this does not even affect the peer to peer bitcoin exchange industry in Nigeria. It's the exchanges who were creating jobs this policy affects not bitcoins per se.

Also if history has thought them nothing, they should know Nigerian youths are very good innovators and this is just a speck of stone thrown at a behemoth wall. I currently have over 1,000 BTC in my wallet as we speak and I'm not even moved one bit!

you have over 1k BTC in your wallet.. did you buy BTC around 2010-2011?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Modified:
With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make small margin rather than real investment that creates jobs for the economy, but we are quick to say no jobs.

may your brain spoil quickly! Isi mebikwa gi ebe ahu!

FBIBOT:


It's simple just buying from cheaper source with credit/debit card and selling at higher price on other platform... I buy from binance.. And sell on quidax... That's no longer possible with this policy

which debit card you use because my zenith Bank no gree me

stephenponti:
Is it only from abroad that's difficult to receive money. 6k transferred to me from GTB is still hanging since MORNING. Its third time am having this issue this week.. it is mostly afterwards reversed to sender. And this is causing friction in my business.

oga tell your people to buy USDT and send to you over TRC 20 network. USDT na electronic dollar and TRC 20 is fast and costs nothing. Tell them to avoid ERC 20 and Omni when sending USDT to you. You can convert the user to naira at 481. I've been using this to receive money outside the zoo and I still use it

LongNipple:
Yes o.

My clients outside Nigeria couldn't pay for my products last week. They said all international transfers to Nigeria have been blocked.

We are just waiting on God.

And I desperately need Money now

tell them to buy USDT and send to you over TRC 20 network. It's that easy. You people should be informed abeg

ggood:
Please my sister is sending me money from abroad how will I receive it.

this is my first time of receiving cash abroad

open a crypto wallet Account. Tell her to send you the money in USDT. You can convert it to black market rate 481 here. 1 USDT =$1. Simple. Tell her to send it over TRC 20 network. It's better that way. You can.send it to Binance, buy tron , send it to.bundle and sell. It will give higher value.

seunak2016:
the charges of bitcoin is too much. like for instance the $100usd you will receive in Nigeria for 40kplus in NAIRA, with bitcoin the money won't be up to 30k because of charges

who still uses that slow shit called BTC? Tell them to use USDT over TRC 20 network. It's fast , free and easy. Tell them to send you 100usdt($100) , convert it at black market rate (481 ) and get your money! Shikena! Yowa!

thebosstrevor1:


You just keep mentioning different names.

Yes ripple is cheaper to send, there are thousands of coins that are cheaper to send but Who uses them for transaction?

Bitcoin is the ultimate coin and the coin that people use for transactions, even if you want ripple or tron, you still need to get btc first.

To transfer your btc to the exchanges is expensive especially on weekdays because of network fees

bullshit! I don't need BTC to get XRP or Tron. Have you heard of USDT before? You don't need BTC either for that as well. BTC is a dinosaur, so why should I use that? ETH is a rip off. Very few persons use USDT ERC 20 network that collects 3usdt($3) for transfer and Omni collects 11usdt($11) and TRC 20 network collects nothing and is faster than both. If I say send me BTC, I'll have to wait more than 20mins for transaction to be confirmed on the Blockchain as BTC uses proof of work and cannot handle more than 15-20 transactions per second due to the systems alignment and network protocol it has set. Tron uses proof of stake, can handle 2000+ transactions per second and USDT OVER TRC-20 has become a very popular demand. Just recently over 8billion USDT has been moved over TRC 20 network. You know why people are ditching ERC 20 for TRC 20? TRC 20 network for USDT is 10× faster than that of ERC 20 and costs $0(0 USDT) as sending fees. XRP has similar mediums to that, can handle up to 3000 or more transactions per second and it's the 4th largest crypto in the world. XRP and USDT OVER TRC-20 and Tron can be used for arbitrage trading. Good luck doing arbitrage trading with bitcoin. Maybe you may be restricted to 4 transactions per hour

thebosstrevor1:


Crypto is expensive to send.

Network fees is very high for btc and others.

So i don't see how crypto strengthens the naira

guy stop talking nonsense. Have you tried ripple network before? They charge about $0.01 or so, same with USDT-TRC20 AND TRON. you don't know what you're saying. You think bitcoin is the only crypto? That slow thing

FBIBOT:
What the Bleep is this now... Do these guys have sense like this? One of my hustle gone down the drain crypto arbitrary trading is bae... Crying

abeg how you take dey run am?

tolukunle:


You are really dumb . Did I come here to advertise anything or anyone here can say I collected a dime from them cos I wonder where the DUBIOUS word is coming from.
Saying I know nothing about the two countries shows how shallow minded you are. I only came to nairaland to seek opinions from people that have been to been there too just to double check my findings and dot my I . You are here saying rubbish.
Its people like u that ends up getting frustrated and will be involved in criminal acts.

You know what where I got those offers from isn't your business. You can continue wallowing in your FOOLISHNESS.

Kan du snakker norsk?(can you speak Norwegian?)

Sandra430:
We’ve been dating for sometime. He stays in Norway I live in Nigeria. He’s 38 I’m 21. We’ve never lived together even when he was in Nigeria for a visit. Now he’s saying I should leave everything and everyone I know and come live with him in Norway forever. Just like that. Do you think it’s a good idea? He’s a bit controlling and authoritative. Always like to be right and never agreed he’s wrong. The last time I wanted to start a business. He refused to help me saying I will leave him if my business goes well.

Er Han Norske? (Is he Norwegian)?

Nfavour:
Saynotocultism I really need your help on this. Am a Student of FUTO doing odd jobs just to survive. i got a job in a Security Firm in School though its a contract job, that is we are not being paid directly by FUTO but through our Director and since Febuary up till now, we haven't been paid with endless promises of this week that week. So sometime last Month, I met a Colleague of mine who is also a Student for aid, he told me that he could procure a loan for me but that it was frm some Aiye Lords in School and that i would pay triple the amount and b4 14th july. i agreed and collected 20k to pay 60k with the hope that we would be paid b4 then but the problem is that we haven't been been paid and i have no other means to pay back. on the 14th i was called by 1 of the Guys for the Money and he threatened to storm the School with his men the next day and my supposed Helper(Colleague) is even the 1 that threatened me the most because he knows where I live and that the money tops 2k daily, i had to run in fear.

giving 20k to collect 60k back is called Usury. The person to borrowed money from is a Usurer

Mcslize:


Wonderful! You are good to go then.

Crypto is really profitable in a long term holding. Just imagine how much you made for 0.8btc you bought 5yrs ago. Imagine you bought 2 of that.


I wanna ask how much you bought the 0.8btc as at 2015?

about 70k or so

RedPanthar:



Na so. It's to that gives me money to chop. When they tell you people in the midst of counselors there's safety, una go say na lie. Continue with your gory negativity tales


Sorry entrepreneurs, before business proper starts they've spent gazillion on equipment and making business look toosh. How then would 12 Million not vanish before business proper.

exactly

Mcslize:


I see! So are you ready to learn the language if non of their university teaches in English?

Norge har ikke universitet for Englesk Student

Mcslize:


Of course, Norway is not a bad country but what I don't know is if they have any tuition free programs for foreign students to get into the country and study and also remain to secure work after completion of their studies.

There are many things you need to put into consideration at this point, not just about the name of the country but what the country has to offer and the easiness to get in.


First, does Norway offer tuition free programs for foreign students? That you have to research. Cuz you need a country that offer tuition free programs for foreigners running degree programs. If not, that money won't be enough to pay your fee through out the duration of the program except if you have someone who will sponsor you.

That's why you need to go for a country that offer tuition free programs for foreign students. It is not just about the name of the country but the easy route the country has to offer you as a legal immigrant.

If Norway offers tuition free programs for foreign students only then you can choose Norway.

Germany is not bad at all cuz their process is straight forward and they consider foreign students.

Norway is tuition free as well. But the universities teach in Norwegian

F

Mcslize:


Go through school route. If you already have your first degree, you can apply for a post graduate program and make sure you go for a country that allow foreign students to stay and secure work upon completion of their programs.

You need to make research on your own cuz nobody will actually give you the step by step process. Stay away from agents. Everything you need is online. It's just that some of us are too lazy to make research. Migration is not something you just wake up and embark on. You need to make proper plans aside the money aspect.

Use both YouTube and Google to make your research. Research the country you will like to go to. You said Europe. Your mind is already set for Europe. I will suggest you go for Germany.

There are lots of our people here who went through school route who are already in Germany. Be ready to learn German to make things easy for you when you land and to help you integrate into the system faster.

Why I am suggesting Germany for you is because they said school is free in Germany for foreigners. All you need is what they called block payment which is also your money. Tuition is free.

If you don't have first degree yet, you can apply for an undergraduate program. You can school and also work at the same time. Before you round off your program, ensure you know how to speak their language to help you secure job faster to be able to get a permit to stay.

All these , you need to plan. Don't dip hands in that money. That should be your block money. Any other money you need will just be your visa money and flight ticket money. First, research the school.

Look for some Germany threads here on Nairaland to read how to go about the whole process.

I was even thinking of Norway. I hear say money dey that place

Mcslize:


Go through school route.

I guess this is ok

yungchop:



Bros, if you can borrow me 2m from that money I'll process Poland work permit and my life will change forever. I'll pay back your money within a year, you heard me right. I don't mind if yoy want us to meet 1 on 1 to discuss further.

na so

jaybest90:
Baba let's go to USA.. I'm applying for the post of P. A
Take me along sir, Make Nigeria no end me

very funny. You go fit enter suitcase?

dasparrow:


I don't know why some of you don't want to give Africa a chance. The money you have now, you made it in Nigeria. Do you think that it is easy to start a business in a western country that is already fully developed and saturated? What business are you looking to open in a European country that does not already exist there?

Africa is where there is money to be made because we are still developing. Look for a need in the society and start making money. It does not have to be in Nigeria. Many of you view the African Continent through the lense of Nigeria. There are many African countries that you can migrate to legally, apply for investors license and visa and start making money legitimately and yes you will pay tax and still live peacefully.

Not all African countries are having all manners of problems like Nigeria. Our case in Nigeria just happens to be perculiar. Like another poster mentioned, if you are looking for a western European country to open a business, then you will need way more money than what you currently have if you intend applying for an investors visa and even then, there is no guarantee it will be granted to you.

The Africans I know that have businesses abroad already hold citizenship for the western nation they reside in and they are into selling African foodstuffs and clothing. Some own African restaurants. Many of them have been living in the West for 20 years or more. So, I am not here to discourage you. I am a Nigerian diasporan born in western Europe letting you know the situation on ground.

And now with Covid-19 and the lockdown, so many businesses have shut down and gone out of business. Some of these businesses have been in operation for decades. Many European countries are currently looking like ghost towns due to the lockdown. Movement is restricted. People are being forced to stay at home while in African countries, people are living their lives freely.

As human beings, we always imagine the grass to be greener on the other side until we get to the other side and realize that it was all just an imagination.

Africans are the only ones who don't appreciate Africa. Oyibos, lebanese, Indians, chinese are all flocking to African countries, opening businesses and smiling to the bank while Africans prefer to flock to the West and do back breaking jobs in the winter weather, working long hours for a salary that will barely allow you to save after paying taxes and bills. Moreover, no social life especially now that Covid-19 has ravaged many European countries and the United States. Who no go, no go know. Be wise!

actually the money came from a 0.8btc I bought sometime in 2015 (march) , I lost access to the wallet. It wasn't until this year 2021 when I found a paper containing the seed words I wrote dating back 2015 of the wallet where I transferred it(mind you its a blockchain wallet) I was so happy and sold the 0.8btc and now I have enough money. But maybe I should just apply for a school and then forge more skills and move ahead in Europe pending on when I can hit enough money for business strata

obama30:


The amount in question is $24,000 when exchange at black market in Nigeria.

It can't start business for you in European Union countries and get you stay permit.

But it can start some scale business for you in UK if you're into production, don't expect me to mention what to produce here on nairaland, education is never free in our time.

Mind you, before any European nations can give you work or authorize you to do business, they have to know why a citizen cannot do the work or the business before given you permit to do that.

I leave my former base in Europe to new location.

If ego can allow you to do some overlooked African cooking in Europe then you will get stay permit under self employe. All you need is buy equipment to modernize it. Even the white will petronize you, just garnishing roosted plantains with good aroma vegatables leaf in you canteen.

You have to go to farm and reach agreement with plantains farmer, don't buy at mall else you can't make progress after taxes.

Apart from that, look for any African countries and enjoy your life, African countries minus Ghana and south Africa others are ok if you determine to make money and live happily, french countries is best. Good luck

OK. Thank you very much

tensazangetsu20:
With that kind of money, the world is your oyster. A lot of country's offer entrepreneurship visas so you could use that money as seed capital.

entrepreneurship visa right? This is great!

mekuso89:
Ok cool, I suggest you make some research base on country of interest

thanks

setobaba:

When you are in possession of such millions you will understand it’s just a figure compare to the value we place on the sum


Bro which country can you not migrate to with such amount self? You can even get an apartment very close to capitol with such amount lol

yea I know. But my focus is on Europe. 3 countries are on my mind, its the tax issue I'm looking at and standard of living. Perhaps any European country with less than 2% crime rate available? That's where I want

RedPanthar:
Person wey get head nor get cap. 12 Million establishes a factory and gives between 3 and 5 M annually or any business especially FCMG


I nor give business advice o, lest dem come say dem want scam una.


Go Australia

Australia. If I start one business there. How much tax dem go collect?

mekuso89:
Which country in the world can you not migrate to with 12million abeg

I need country with good tax policies

Omihanifa:
Go to Dubai

which business person fit run for Dubai and how is their tax regime like?

Hello guys, I need a country in Europe where I can migrate to with N12m and start a new life there. Mind you I'm far from being married and I need a country somewhere in Europe to either do business in or even if its work , with favourable Tax conditions (20%-40%). Mind you , I don't mind paying tax , as long as I get good public social service , I'm OK with it. Its better than living in a country you can make "millions" overnight and get ripped off by bad government policies meant to improvish people. I want a place where my money can work for me, how much I have in my account doesn't matter at this time , its the quality of life I'm after now and that's why I need a European country I can move to and start a new life over there , not only for the sake of me, but also for my unborn children yet to come as I don't see any hope of Nigeria getting better from now. Pls advice