deepwater:


What do you mean by I and e please

CBN Investor and Exporter Window

Destinydele:
Greeting to thé gurus in thé house...Please, help à brother...I have account with stanbic Bank .How Can i get Bond from secondary market ?? Presently living in Bénin city edo state and i have 16m to invest..Do you people Know any investmen house in edo state that will agreed to sell Bond in secondary market?? Thanks as i await your contributions...

Send Stanbic an email na oga.

Emmasoft, a new client perhaps?

ahiboilandgas:
Example we saw the sign that naira was not sustainable at 305 ....so around july last year all my tb investments was liquidated to sock up euro at 392, dollars at 355......i have sold must now and my naira position has jumped 29 ..

Don't you think you sold too soon?

GonFreecss1:


If we are also talking about how the long economy works, if majority right now wanted to withdraw their money. NDIC will not even be able to help give at 100K each to the people who have 100K and above.
.

How did you come to this conclusion?

This is why history should be documented so that people who come later will not try to rewrite it. Maybe the stories aren't being told enough by people in the know.

Even without knowing the particular history of Nigerian filmmaking, it was immediately absurd to me that anyone would defend Living in Bondage as the beginning of Nollywood.

Thank you for the history lessons, Sirs

Sach:
Hello all. Advise needed with sound analysis. Should one take a NHF loan of max 15 million
payable over 25 -30 years interest rate 6%, equity contribution 10% to buy a terrace house of 38 m at agungi or its environs. The rest would be personal contribution. The person is yet to be married, looking at this more as an investment option and cos of the cheap loan opportunity. A concern is building up savings after such huge investment. The person is also reluctant to rent so might live there, additional expense of furnishing etc etc.

What does the person think? Why not post the person's analysis here for appraisal?

mickky22:
Good day,

Please as any gotten any information from SUKUK.

Why not contact the bank through which you invested??

theconglomerate

Do you orgasm from quarrels?

NL1960:


Iam aware of the CBN policy. I have an account with GTB. GTB was the first bank to massively move into this consumer lending with an entry interest rate of 1.75% per month which was reduced to 1.33% this year. So i expected a bank coming out to compete should at least match their rate and not come out with a rate that is almost double that of the main player. I was wondering if the people in their strategy department were dense or is it as a result of being incompetent?. Since i lambasted the person that called me, the 1.6m they said i was qualified for has dropped to 100k.

Mumu people. What made them think i will take a consumer loan at twice what a tier-1 bank like GTB is offering?. BVN has made loan repayment to be easy as i can easily instruct GTB to take the monthly repayment from any bank that i have funds.

Perhaps the bank deemed you a high risk customer . I doubt that GTB is lending at that rate to all its customers sha.
Some customers will take it. Maybe because they don't know better.

LordAdam16:


Na.

At the moment, the CBN is perfectly okay with $ in the 400 range in the black market. However, 450/460 is their limit and over the weekend and early next week, there'd be some strategic pressure to lift the rate. But just short of enough to take it back over the 400 mark. At least for now.

Here's the reality. The CBN can crash the rate to 380 if they so choose. It'd take 3 days tops. They have the ammunition. Reserves is circa $37b. I&E rate is 390 or thereabout. The worst for oil is in the past.

That said, to the CBN top-brass, it is moronic to spend $2-3b (about a trillion naira) per month holding a 380/390 rate, when we just cut Universal Basic Education budget from 111b to 51b yesterday. It's bad optics, reeks of absurd priorities, and goes against the sermon that there's no money.

A 10-15% rate surcharge for those who want to import toothpick is perfectly acceptable during a global downturn.
Those with a more fiscally responsible need can go through the banks to access the CBN $400m per month sale facility to small businesses/individuals that was recently restarted.
Those who recently made online purchases at 390 through GTBank used this facility.

PS: Part of the reason for the steep drop today is the release of a CBN Report for May where respondents firms expected the naira to "depreciate in the current month, next month, next two months and appreciate in the next six months." https://punchng.com/firms-expect-further-naira-depreciation-dollar-sells-for-n440/

TL;DR: The depreciation of the naira in the parallel market is controlled and deliberate. It may change soon, but for now, that's the state of things.

-Lord

So they're basically allowing it to fall in order to protect the reserves from depleting due to "frivolous" imports? I guess that's why there's been no cash intervention. Instead the black market funds itself via fearful speculators.

But what'll happen if international flights resume from later in June? Even though I doubt that people will travel as travel restrictions are still on.

ahiboilandgas:
Chia Good new ...
Time to make money

Will the CBN give the marketers FX? Or will they source from the black market?

4tunebest:
.

1. I lived in Lagos but stayed back to work in another city after my postgraduate program in that city.
2. Yes I was solely responsible for my expenses as my father, although wealthy, believed in owing his children only education. So after my M.Sc, I was solely responsible for my expenses. I started from scratch as I had no savings prior to this time. This is why I took the 27k job as I needed a means of survival
3. How I was able to do it? Honestly I can't really say. I guess God's grace and the 3 things I listed in my previous post. I also believe there's something called God blessing the work of our hands as my colleagues in the office used to think I was a wealthy person due to the quality of life I lived. They didn't know that "all na packaging"

Thank you for sharing. I appreciate

4tunebest:
I just want to put this out there for someone earning low and feels quite disadvantaged by default as regards saving from the meagre income. There is always this overwhelming feeling about how much/how long do you have to save to accrue a significant amount.

In the year 2012-2014, I was earning 27k as an M.Sc. holder and still saved enough to live well and eat good, nutritious food .
My personal utilities for my wedding was also from the savings I had from this meagre income.

Now, I save over 80% of my salary monthly. That saving culture didn't jump on me today. It started several years ago when I was earning a meagre sum of 27k, even though I wasn't able to save more than 10% of my income as at then.

The key is living below your means. Do not compare yourself with others. Be grateful for the little you have. These 3keys are ways of life that opens the door to gradual albeit steady abundance; increasing your income and consequently, your ability to save more.

Interesting. 27k then is equivalent to 50-60k now in purchasing power.

I have a few questions. I hope you don't mind answering:
1. Did you live in Lagos or some location with high cost of living when your income was that low?

2. Were you solely responsible for your living expenses? No cash or non cash subsidy from your family?

3. How were you able to do it?

deleson:
I'm not quite clear on your point, sir.

If you thoroughly read through my reply, you'd decode my position.

Best!

Obviously, you didn't understand mine.

deleson:


However, I realise that gains are not overly high, because you'll still use your converted dollar to purchase the inflated goods and services. Also, family and friends wahala dey wait for am as well.

May the ancient wisdom guide us through life.

Friends and family wàhálà will be there regardless. Same with goods and services prices. Your humanism probably won't stop those from happening.
Personally, you'll be better prepared for those outcomes.

If you were a bank shareholder, would you accept this humanism from a Board and potentially be worse off?
So, Segun Agbaje should tell his board and shareholders that he didn't go long on FX assets because it would be bad for the larger population?

yazga:
They will run and you will never see them again or they give you the number of a family friend disguising as the landlord.

There's a chance the individual has a LinkedIn profile. Even on social media handles, the person might upload a photo with the company logo nearby

Tobex4realTobex234:


Who I be?

I am just saying if I need 5,000 dollars today for personal use, why will I go to black market biko?

When there are options to get it at 420, 430.

So when I look at USD rate, nothing concern me with black market.

What alternatives will get you FX at those rates? I'm unfamiliar with the Binance you mentioned but its is a cryptos website. So you buy BTC and sell it in USD?

Tobex4realTobex234:


Where una they always get una numbers from. Forget black market. Even Cowrywise and Chaka they sell USD for 430.

Anybody wey need USD for personal use make he buy from Binance.
Anybody wey need USD for legit purposes make he buy from CBN/banks.
Anybody wey wan speculate, this no be good time to buy, as things are quite volatile.

Abokifx

Theconglomerate:
I see CBN devaluing the naira again.
Dollar don pick race again this morning as Buhari said na June 21 them go open everywhere.
Also NNPC blundered last night to hint they make just $3 profit a barrel of oil at their $25 benchmark because they spend up to $22 just to produce a single barrel of oil.
This has boost speculator confidence and the slow and steady upward rate of the dollar has begun.
Whoever that don't want to buy local produce should get ready to plunder his reserves till kingdom come.
400 range is naira's new reality apparently.

Lol. I think the only thing that can improve this is sustained cash intervention. Thus far, that hasn't happened. I think they've chosen to protect the reserves as much as possible - maybe gathering the necessary firepower to intervene.

I don't think the NNPC "blundered". It's been that way for years. It's just a Google search away. Kachikwu attempted to reduce it but obviously his efforts were unsuccessful.

deleson:
Same thing I said to my aboki exchanger when he bought my dollars for N450. I simply thought of the impact on the whole country, me inclusive.

ahiboilandgas:
i dont want the naira getting destroyed cos it will hurt us all in the end ...

Isn't it wiser to attempt to come out better off personally than to suffer it along with everyone else?

deleson:
Hello,

Just checking if had a closure on this issue.

Also, I'd like to know (from you or anyone else with experience) if Eurobond payout are made in Dollar or Naira.

Thanks.

Dollar

Theconglomerate:
So this is your analogy?
What do you think is LVMH revenue annually?
If a huge chunk of that money is made from Nigeria then what do you think the only person that is the leeway of that product in Nigeria is worth?
A lot of people are deluded enough to think money comes only from oil and gas.

I think what he's saying is that you can't be "anonymous" where you're worth $100m and that being worth a certain sum has nothing to do with cash balance

Theconglomerate:
See what speculation can cause.
Naira is currently appreciating today as we speak at this rate not because of anything but just because there are rumours circulating that Buhari is going to open borders and interstate today by 7pm.
How does this relate to fx?
Remember the CBN led by Emefiele said the moment the nation is open to international air travel,that it will provide fx liquidity for the people that need it for their various reasons which I know deep down Emefiele might be conducting a social experiment,which apparently is already yielding results.
No aboki is buying or will price your dollar very low as we speak because of panic.
If Buhari makes no announcement as speculated today,by wednesday expect pricing to start creeping up again.
This is how risky hedging with fx and foreign denominated investments can be in a volatile economy as Nigeria.
He who has ears....

The same Emefiele that was begging industrialists not to patronise BDC? Why would you use moral suasion where there's strong demand and weak supply? There've been no cash interventions and he expected them to sit with hands folded?

This thing requires confidence. If people aren't confident that the CBN has the capacity to supply FX, they'll go elsewhere. Why did they have to wait this long?

Out of curiosity, can't rent debt be reported to credit bureaux so that landlords can access it before letting out their properties? So, even if it's yet to be settled in court, landlords can know what they're dealing with.

battleaxe:


Thanks for your response.

Please see the first link on differences btw Sukuk and regular bonds I googled(See section on repurchasing at maturity), the second link to the prospectus of the 2017 Sukuk, page 10/11- Limited Recourse.

https://www.dummies.com/personal-finance/islamic-finance/how-sukuk-islamic-bonds-differ-from-conventional-bonds/

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.fmdqgroup.com/wp-content/uploads/2018/02/FGN-Sukuk_Prospectus-Execution-version_051017.pdf&ved=2ahUKEwjE-umuzd7pAhX9BGMBHRMQAaMQFjAAegQIAhAB&usg=AOvVaw3Sdg6eeB8Du36aaML_NooZ

With this sukuk, the government is "renting" the underlying road infrastructure from the SPV. I think it's similar to a finance lease.

In non interest finance, the risk is shared between both parties so ordinarily, it would mean that a risk of loss is present but since the counterparty is the FGN, there's nothing to fear.