XiaoLi:
Mofo i am not Brainbox, for what reason would i hide from a low life 1diot like you, fyi i am balling harder and will feed your next genaration, i put this as a challenge to you..show me tashere 50M in your account and i will show you 20 times of it, dont give excuses...show it!

Sir, can I send my account details to you?

Anything for your bois sir for this weekend.

When will this end naa?

XiaoLi:
Go and sit down boy. You think wearing white canvass to a wedding to find free girls to knack is an achievement, become responsible first then i will have your time. I will not quote you again!

Everybody know say I be playboy,but e no mean say I dey irresponsible.
You on the other hand dey lie say you get 1B.
Na always for nairaland una dey get money,but if you go round now with a promising deal worth N10m,
Them go dey look for whose kidney to sell to raise money
Noise everywhere,see em mouth like 1B,broke idiot.
The only people weh get money for this country na traders,the rest of una contractors,car dealers(the worst),analyst and whatever na owu go kill una.
Your papa.

Let assume you don't know why as you claimed. I read from a side line and get educated by people sharing practical experiences here, you talk about your grandmother legacy, stocks, how many fixed incomes portfolios you have and how they serve different purposes etc while some people talks about other educative topics, at the end everyone here picks up something and each positive contributor will be remembered for helping newbies grow.

I won't interfere in your banters with that boy eventhough it takes several pages. But the moment he calls people out for sharing their views , that's a NO for me. He makes people want to hold back information that could've help others. Someone political, religion, ethnicity affiliation be it audio or real financial status is not my business but the financial knowledge you can share to help others grow.

As long as you are not here to promote illegal businesses, solicit for funds, everyone should be allowed to air thier views. The thread will die naturally if everyone holds back because of that troll of a boy

emmanuelewumi:



Good submission, I think the other guy started the trouble.

I don't know why people like calling him out or insinuating that his questions were trying to detect if someone was audio or not.

rationalmind:


Smart guy.

Knows lazyyouth will not have 50m idling in any account so he will never have to show us his 1B

no mind the weyrey, thinking say na children dey here.

0.01% or less will have N1 billion in the bank

purleesh:
One thing I've observed.... All of you here quarrelling are smart hardworking intelligent folks.
Please spare a moment off your "banter" and advise me further.

I want to convert all "our" cash to USD via mallam since their rate is better than banks, do Eurobond and rest from this Naira devaluation wahala...but banks aren't accepting more than $5k cash deposit a month.

Please how else do I go about this sirs/mas? Kindly help

Purleesh,
Understand that due to cbn policy, banks no longer allow cash usd deposits to be used for wealth management activities..(i.e all dem USD/eurobond funds etc.)

So I'll advise you buy usd as inflow (and not cash) since there is no restricrion as to the amt and the usage if its an inflow.
By inflow, i mean electronic transfer.

Everdon bdc offer this service although @ 510naira last time i used them. I am open to suggestions as to an alternative...if any one knows how to buy inflow usd at better rates.

Hope this helps.

Do you believe this?

emmanuelewumi:
0.01% or less will have N1 billion in the bank

Etfash:


How many domiciliary accounts do you have? How many banks are there? Is the $5k per bank or BVN? Answer these questions, not here, and do what you want to do.

Thank you sir

Emndy:


Purleesh,
Understand that due to cbn policy, banks no longer allow cash usd deposits to be used for wealth management activities..(i.e all dem USD/eurobond funds etc.)

So I'll advise you buy usd as inflow (and not cash) since there is no restricrion as to the amt and the usage if its an inflow.
By inflow, i mean electronic transfer.

Everdon bdc offer this service although @ 510naira last time i used them. I am open to suggestions as to an alternative...if any one knows how to buy inflow usd at better rates.

Hope this helps.

Yes, helped a lot. Thank you very much

purleesh:
One thing I've observed.... All of you here quarrelling are smart hardworking intelligent folks.
Please spare a moment off your "banter" and advise me further.

I want to convert all "our" cash to USD via mallam since their rate is better than banks, do Eurobond and rest from this Naira devaluation wahala...but banks aren't accepting more than $5k cash deposit a month.

Please how else do I go about this sirs/mas? Kindly help

I'm happy you want to convert God forsaken Nigerian naira to USD. A very smart thing to do.

But bear in mind that to be truly free, you need to invest your USD in instruments that are beyond the reach of the FGN. There is an easy way out of this but I'm not ready to receive banters here for giving a free advice.

So the other way is to open off shore accounts. Try Kenya or Ghana. For Kenya I suggest Standard Chartered.

It may appear daunting but please do it now. Save yourself from the shackles of the Nigerian government incessant devaluation. Even Dangote wants to keep 60% in USD despite all his naira investments.

I suggest Standard Chartered because you can also open a Kenyan KES account with them. So the next time you want to convert naira, you only need to buy KES and then convert the KES to USD in their app. So this means you don't have to be buying dollars physically all the time.

purleesh:
One thing I've observed.... All of you here quarrelling are smart hardworking intelligent folks.
Please spare a moment off your "banter" and advise me further.

I want to convert all "our" cash to USD via mallam since their rate is better than banks, do Eurobond and rest from this Naira devaluation wahala...but banks aren't accepting more than $5k cash deposit a month.

Please how else do I go about this sirs/mas? Kindly help

Why not convert to USDT or BUSD via Binance P2P and then transfer it to a Wallet like Trust Wallet or Exodus

Please house members, correct me if I am wrong

Nezzjnr:

Please help with it abeg

I will send you the draft in pdf.

purleesh:
One thing I've observed.... All of you here quarrelling are smart hardworking intelligent folks.
Please spare a moment off your "banter" and advise me further.

I want to convert all "our" cash to USD via mallam since their rate is better than banks, do Eurobond and rest from this Naira devaluation wahala...but banks aren't accepting more than $5k cash deposit a month.

Please how else do I go about this sirs/mas? Kindly help

Welcome to reality
It's no rocket science that USDollar will soon exchange for N1000.
Naira can only compete with Zimbabwe Dollar.

Tobex4realTobex234:


I'm happy you want to convert God forsaken Nigerian naira to USD. A very smart thing to do.

But bear in mind that to be truly free, you need to invest your USD in instruments that are beyond the reach of the FGN. There is an easy way out of this but I'm not ready to receive banters here for giving a free advice.

So the other way is to open off shore accounts. Try Kenya or Ghana. For Kenya I suggest Standard Chartered.

It may appear daunting but please do it now. Save yourself from the shackles of the Nigerian government incessant devaluation. Even Dangote wants to keep 60% in USD despite all his naira investments.

I appreciate these sir but please can you elaborate on the boldened? Never mind the impending barters, let them fall on me instead...I have thicker skin than the croc

islamics:

I will send you the draft in pdf.

Thanks a lot Boss

Through a mail??

Oga you na chairman na, atleast we have all benefited from your selfess advice here in one way or the other not some people who never see anything good in all the investment portfolios and will start to feel insecure/intimidated once you mention your achievements...i call them bad belle..na their type dey give poison for village

emmanuelewumi:


Sir, can I send my account details to you?

Anything for your bois sir for this weekend.

richforever123:


Why not convert to USDT or BUSD via Binance P2P and then transfer it to a Wallet like Trust Wallet or Exodus

Please house members, correct me if I am wrong

You're very correct sir just that I'm still somewhat old-fashioned when it comes to finances..I still feel much more comfortable dealing with banks. Thanks very much

XiaoLi:
Oga you na chairman na, atleast we have all benefited from your selfess advice here in one way or the other not some people who never see anything good in all the investment portfolios and will start to feel insecure/intimidated once you mention your achievements...i call them bad belle..na their type dey give poison for village

You must think that you are talking to stupid people like you when you use your Brainbox moniker to insult Oga Emma then switch to Xiao li to play friends. Wetin you dey gain?

Illiterate, the game is up. You have been exposed. Bloody Uber Driver wey dey collect insults from riders then come here to play billionaire. Wetin dey do you? You must have a mental illness. Accept your cross in life and carry it well. Change your damn attitude and maybe you will be getting more tips and I go fit consider employing you as driver. Coward!

STNWAUME:


Welcome to reality
It's no rocket science that USDollar will soon exchange for N1000.
Naira can only compete with Zimbabwe Dollar.

Naira cash is really the worst asset type to hold for long .
Even when invested with our money mgt firms, the rate of returns they apply is always far below the inflation rate nevermind the ceaseless devaluations; it appears like one is walking backwards.

Brainbox0806:
Let assume you don't know why as you claimed. I read from a side line and get educated by people sharing practical experiences here, you talk about your grandmother legacy, stocks, how many fixed incomes portfolios you have and how they serve different purposes etc while some people talks about other educative topics, at the end everyone here picks up something and each positive contributor will be remembered for helping newbies grow.

I won't interfere in your banters with that boy eventhough it takes several pages. But the moment he calls people out for sharing their views , that's a NO for me. He makes people want to hold back information that could've help others. Someone political, religion, ethnicity affiliation be it audio or real financial status is not my business but the financial knowledge you can share to help others grow.

As long as you are not here to promote illegal businesses, solicit for funds, everyone should be allowed to air thier views. The thread will die naturally if everyone holds back because of that troll of a boy

Werey still dey disguise

Stop acting like a victim and tell me where me and you get problem. You have been using this moniker to taunt and insult me since because of Audio billionaire bigot wey I expose. I knew you were Xiao Li but decided to ignore you. Now wey I dey respond to your vile insults, you wan dey form victim.

I advice you for the umpteenth time. Humble yourself and respect people that are better than you in life. Only then will things change for you and maybe you fit go dey do driver for one big man wey salary go dey guarantee. Instead of the coins without tips wey you dey collect now because of your stinking attitude. Make your children no go die of hunger while you are dreaming say you be billionaire. Coward!

Tobex4realTobex234:


I'm happy you want to convert God forsaken Nigerian naira to USD. A very smart thing to do.

But bear in mind that to be truly free, you need to invest your USD in instruments that are beyond the reach of the FGN. There is an easy way out of this but I'm not ready to receive banters here for giving a free advice.

So the other way is to open off shore accounts. Try Kenya or Ghana. For Kenya I suggest Standard Chartered.

It may appear daunting but please do it now. Save yourself from the shackles of the Nigerian government incessant devaluation. Even Dangote wants to keep 60% in USD despite all his naira investments.

Haba! Brother, It's not that bad na..
We still live in naija and mostly spend the naira na.

Tobex4realTobex234:


I'm happy you want to convert God forsaken Nigerian naira to USD. A very smart thing to do.

But bear in mind that to be truly free, you need to invest your USD in instruments that are beyond the reach of the FGN. There is an easy way out of this but I'm not ready to receive banters here for giving a free advice.

So the other way is to open off shore accounts. Try Kenya or Ghana. For Kenya I suggest Standard Chartered.

It may appear daunting but please do it now. Save yourself from the shackles of the Nigerian government incessant devaluation. Even Dangote wants to keep 60% in USD despite all his naira investments.

The problem with holding all your cash in fx offshore is that you make almost nothing from it. So that money just stays flat. Plus the hassles in opening the account, transferring to and fro and the fees and charges involved.

Also, It’s not easy for a Nigerian to open offshore accounts today. I’m not saying it’s not done but it’s not for most people.

purleesh:


Naira cash is really the worst asset type to hold for long .
Even when invested with our money mgt firms, the rate of returns they apply is always far below the inflation rate nevermind the ceaseless devaluations; it appears like one is walking backwards.

When you keep your money in USD and get 0.01% nko? FPIs are not coming to invest in Nigeria because they are mugus.

Naira is not as useless as some of us think it is o. It’s just finding the right opportunities that the problem is.

If you spend in Naira, you are stressing your life by converting all your money to USD offshore. Abi you will need to be transferring money between accounts. By the time you see the fees and charges involved, you will understand.

purleesh:


Naira cash is really the worst asset type to hold for long .
Even when invested with our money mgt firms, the rate of returns they apply is always far below the inflation rate nevermind the ceaseless devaluations; it appears like one is walking backwards.

Best thing is to accept the devaluation risk (for funds to be spent in Naija) and just find the best investment opportunities you can find around. You get your money in Naira and spend in Naira so it can’t be as bad as someone making money abroad and bringing back home to invest and then repatriate.

If you can, allocate some money that you do not need and invest in offshore mutual funds if you are able to (NOT save in an offshore bank account) It is not easy but doable. Just accept that the money is for your kids college education in the US and continue adding to it when you can. At least you are using the money for something instead of just converting to beat devaluation.

Tobex4realTobex234:
I suggest Standard Chartered because you can also open a Kenyan KES account with them. So the next time you want to convert naira, you only need to buy KES and then convert the KES to USD in their app. So this means you don't have to be buying dollars physically all the time.

Ok..this is new info fr me. How do you buy Kenyan Shilling with Naira? via the bank? 3rd party?..where/which?

I mentioned a way you can comfortably earn 5 percent annual interest on USD investment while sitting comfortably in Nigeria without any hassle but a bull dog here attacked and started saying I should find Church members, the same bull dog actually took my advice and opened acc with the company Binance.
It is very simple, Binance turn over at least $500m per day in crypto trading, you won't be trading crypto, you only buy the stable currency BUSD in the equivalent of N50,000 ie $100/BUSD or as much as you want via P2P and on their platform you move it to Fixed savings interest account which is accessible 24/7.

Lazyyouth4u:


When you keep your money in USD and get 0.01% nko? FPIs are not coming to invest in Nigeria because they are mugus.

Naira is not as useless as some of us think it is o. It’s just finding the right opportunities that the problem is.

If you spend in Naira, you are stressing your life by converting all your money to USD offshore. Abi you will need to be transferring money between accounts. By the time you see the fees and charges involved, you will understand.

Does Binance do US stocks now? Do you know?

condomuser:
I mentioned a way you can comfortably earn 5 percent annual interest on USD investment while sitting comfortably in Nigeria without any hassle but a bull dog here attacked and started saying I should find Church members, the same bull dog actually took my advice and opened acc with the company Binance.
It is very simple, Binance turn over at least $500m per day in crypto trading, you won't be trading crypto, you only buy the stable currency BUSD in the equivalent of N50,000 ie $100/BUSD or as much as you want via P2P and on their platform you move it to Fixed savings interest account which is accessible 24/7.

They don't trade stock yet, the company has lots of lucrative projects on its hands, stock could be the last thing in it's list.

They are introducing NFT this June.

ojesymsym:
Does Binance do US stocks now? Do you know?

ojesymsym:
Does Binance do US stocks now? Do you know?

Yes Binance has some Stock Token like Tesla, earning 5% on Binance is good but the downside is that any coins stored on Binance is technically not yours, if Binance is hacked your funds may be lost

Lazyyouth4u:


Best thing is to accept the devaluation risk and just find the best investment opportunities you can find around. You get your money in Naira and spend in Naira so it can’t be as bad as someone making money abroad and bringing back home to invest and then repatriate.

If you can, allocate some money that you do not need and invest in offshore mutual funds if you are able to (NOT save in an offshore bank account) It is not easy but doable. Just accept that the money is for your kids college education in the US and continue adding to it when you can. At least you are using the money for something instead of just converting to beat devaluation.

You see sir, if I had N1B in the bank, with fund mgrs or basically lying fallow anywhere just February last year when USD was like N365, though I have same quantity now in 2021, the value has been seriously eroded by this devaluation thing.
My grouse is that the speed they devalue Naira with is unsettling and though I wouldn't know what it is but something is very wrong and I wouldn't want to be caught up in whatever they're cooking when it's done; our trajectory is obviously not good at all.

See, just within 1yr, my money saved/managed in a fund has lost
(510-365)/USD just by devaluation. If I had saved my money in FX form that Feb last year and did nothing, it would have 'yielded' me that much and not just the regular 0.01%....my cash value wudav been preserved. So you see why it's hard for me to accept the devaluation risk..it's too much too frequently done.its madness it's not risk anymore, it's become a constant that's sure to happen