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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4542033 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 jedisco(m): 9:42am On Aug 23, 2021 |
Chuky7: In summary, these were my views... Few years back, I liquidated most cash based naira investments into the usd. My reasons were...There has been no time in history (over 40yrs) that there were 2 different exchange rates with a significant gap between them that the naira did not continue to devalue. A 25% difference between the two rates as we've had recently effectively means that by simply holding the dollar, one is likely to outperform most naira based cash investments... This has remained true for the majority of the last decade... As I don't have access to cheap forex or a business to actively transfer the cost to customers, I was left with two options... One is watching the buying power of my naira reduce while I bear the brunt of subsidizing forex for the few rich... The second option was to keep some of my savings in forex pending when CBN merged both rates How... The hassles of a dom account or holding hard forex is too much. I opted to convert into crypt0 stable coins. These are crypt0 coins whose value is pegged to a known currency (mainly usd) and their price is effectively non volatile... When I did this, one could directly buy such coyns on exchanges with the naira. Now the way to do that is using the peer to peer (similar to an escrow) scheme run my most exchanges which is safe if you know what you're doing. The good thing is that both buying and selling is done at the prevailing market rate. After getting such coyns, I can decide what to do... I can decide to stake them (similar to fixed deposit) with interest rates of about 7% apr or transfer them out and keep in a wallet pending when I want to sell back into naira Finally, while I hope the naira regains stability so this inflation can abate... What I wouldn't do is impoverish myself so that a few rich can feed fat. The CBN has actively introduced alot of measures last week trying to combat the forex disparity. Though I believe they're completely missing the point, but lets see how the market responds to these measures... 10 Likes |
Re: Treasury Bills In Nigeria by ositadima1(m): 10:41am On Aug 23, 2021 |
jedisco: The buying power of Naira will keep reducing as long as there is export deficit. Nigeria spends more dollars than it earns. Be careful with cryptos, most professional investors put only a small portion of their investments in crypto. One secrete, If u had entered the stock market when most stocks hit their lowest early last year, u would have beat the current devaluation. The NSE is know to do such bonanza every once in a while. 5 Likes |
Re: Treasury Bills In Nigeria by maishai: 11:23am On Aug 23, 2021 |
emmanuelewumi: If PMB and APC get mind, "Let them remove fuel subsidy or whatever they call it", All hell will be let loose and Afganistan will come to learn work from Nigeria............... There have been pockets of violence all across Nigeria that the mainstream media have just been toning down, all occadioned by the increase in all forms of taxes collected by government officials to compensate this inflation that is biting hard on every body......., Afghanistan will be child's play the day fuel subsidy is removed for real 4 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 11:31am On Aug 23, 2021 |
ositadima1: Cutting the deficit would sure help. But having such arbitrage between both rates would make cutting that deficit impossible... Both rates have to be merged before any progress can be made... The crypt0 space is a rapidly evolving one with lots of offerings that rival usual banking systems... Most of the forex remittance into the country today is done via crypt0. When CBN introduced certain bottlenecks, it backfired and they ended up making more folks in diaspora resort to using crypt0 backed means to send back forex as it's easier, safer, and cheaper. That said, holding stable coins is very different from trading volatile coyns... My concern with stable coyns would be more of protecting my account against breach and not volatility... Regarding the NSE, while there are a few bright stars, it's not a market that interests me at present... Its all share index is currently a little above half of what it was 14 years ago. I'd struggle to find a weaker market worldwide. Before I invest in a market, I want to be sure it's one that has been trending up with time... My focus would then be on finding the bright stars in that market... It's like comparing property investment in Lagos/Abuja and Borno because one or two spots in Borno are appreciating in value 8 Likes |
Re: Treasury Bills In Nigeria by Bbbwings: 1:15pm On Aug 23, 2021 |
maishai:Jos uni students were murdered recently. None made the news |
Re: Treasury Bills In Nigeria by maishai: 3:37pm On Aug 23, 2021 |
Bbbwings: That made the news |
Re: Treasury Bills In Nigeria by ositadima1(m): 5:13pm On Aug 23, 2021 |
jedisco: Export deficit is d main issue and not the other way round, it is the reason CBN deviced parallel markets in the first place as a way to ease pressure on our reserves while allowing essential users access to cheaper rates. But, like most things in Nija, it is subject to exploitation. jedisco: I want to point out that, unlike dollars that have d full backing of d USA economy cryptos don't, they are purely speculative instruments. If USA or some other influential country decide to block bitcoin, maybe because terrorist use it or some other reasons, ur cryptos will go to zero or close to zero so fast u wouldn't be able to pull out ur money. jedisco: It is not for everyone sha. But, with the right knowledge someone can get in at bottom or close to bottom and make it out with decent returns, then wait for d next bonanza when ever that might be. 2 Likes |
Re: Treasury Bills In Nigeria by janga(m): 5:48pm On Aug 23, 2021 |
@ositadima1 bro be calmin down naa, there’s no way crypto will go down straight to zero without the retest of broken S/R no matter the kind of fud affecting it, its pump/dump via demand/supply 2 Likes |
Re: Treasury Bills In Nigeria by ositadima1(m): 6:02pm On Aug 23, 2021 |
janga: OK naa ![]() Don't tell me u have never heard the phrase panic selling. |
Re: Treasury Bills In Nigeria by OgogoroFreak(m): 6:54pm On Aug 23, 2021 |
ositadima1:Bitco1n is closer to $1m than it is closer to $0 |
Re: Treasury Bills In Nigeria by richforever123: 7:29pm On Aug 23, 2021 |
ositadima1: |
Re: Treasury Bills In Nigeria by freeman67: 7:50pm On Aug 23, 2021 |
OgogoroFreak: ![]() ![]() ![]() ![]() ![]() $50k is closer to $1m than it is to $0? Oboy this you maths strong ooo... This one na pure over hype..When it went down we didn't see any marketer/hype man ooo. It's gaining momentum now all different kind of hype have started again... 1 Like |
Re: Treasury Bills In Nigeria by OgogoroFreak(m): 7:59pm On Aug 23, 2021 |
freeman67:Those wey get sense know say when there is no hype, is the right time to load up on some cheap co1n. ![]() I wonder why most people dont learn by recognising pattern. 1 Like |
Re: Treasury Bills In Nigeria by ositadima1(m): 8:40pm On Aug 23, 2021 |
richforever123: Please get ur facts right. China did not ban bitcoin, recently it banned bitcoin mining in some locations. |
Re: Treasury Bills In Nigeria by ositadima1(m): 8:57pm On Aug 23, 2021 |
OgogoroFreak: I hope u read my initial post. Investing in bitcoin is ok, but the bulk of ur money shouldn't be in it(most gurus advice 5 to 15% of ur assets). I was responding to @jedisco who was implying that moving ur assets to crypto was a good way to edge against naira devaluation. Like I said before, cryptos are purely speculative in nature. 4 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 12:06am On Aug 24, 2021 |
ositadima1: This is same argument given to defend petrol subsidy. People going for pilgrimage, studies and medical attention abroad are hardly essential. If CBN wants to support manufacturers, they can pay salaries their workers or give then tax holidays... What they're doing is like trying to fill a basket with water and complaining the basket isn't filled cos the tap isn't flowing well... At no point in the history of this nation has that dichotomy not led to thesame endpoint.
The crypt0 space is a rapidly evolving one. There's lots more in the space than a few popular coyns. Owning Bitc0in is very different from my point and wasn't what I was referring to. To put things in perspective, comparing bitc0in to what I was referring to is like saying buying forex when traveling (or keeps) is equivalent to buying forex to trade in the US stock market. They are worlds apart. Stable coyns aren't volatile or speculative. Their value (as has been the case over the years) remains equivalent to the underlying fiat they're pegged to irrespective of what the larger market is doing. Yeah....To each his own... There's no fixed rule to investing. If I see a good opportunity in the NSE, I'd take it provided there's some degree of stability in the naira 5 Likes |
Re: Treasury Bills In Nigeria by einsteine(m): 1:33am On Aug 24, 2021 |
ositadima1: Stable coins are different from normal cryptocurrencies. USDC and BUSD for example are backed by actual dollars. DAI uses market mechanisms to maintain a peg to the US dollar. 1 Like |
Re: Treasury Bills In Nigeria by OgogoroFreak(m): 3:33am On Aug 24, 2021 |
ositadima1:Who are the most gurus? I have about 40% of my assets in crypto and I have made far more easy money from that crypto than all my other investments put together. |
Re: Treasury Bills In Nigeria by Willie2015: 8:57am On Aug 24, 2021 |
ositadima1: Absolutely correct... I have long position in Bitcoin and Ethereum... Both not more than 5 percent of my entire portfolio... Remainin 10 percenton stocks that run a solid bizness... And at the same time have exposure to crypto.... |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 9:00am On Aug 24, 2021 |
Tobex4realTobex234: This could be Bamboo, Risevest and co in the future but no, the short-sightedness of a clueless government is hampering them from getting there. And to you Mr Field Officer, if you have some time off the field, go and read about Softbank. I also hope you know $400m investment is not given just by building apps, cuz if na by that even our daddy ewumi go don go build him own app. 1 Like
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Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 9:09am On Aug 24, 2021 |
OldBeer: This is what you tell yourself lol... Even traditional banks are playing catch-up, they are now hiring teams to help with their digital channels. Heard about Sterling Onebank or Stanbic One pass, Wema's ALAT, First bank's First mobile e.t.c? It's beyond the app my friend, it's the ease of use, the user experience, the lower barrier of customer acquisition, the scalability, and many more.. 8 Likes 1 Share |
Re: Treasury Bills In Nigeria by omotola90(m): 9:41am On Aug 24, 2021 |
Tobex4realTobex234:very educative post... Digital banking is on another level.... The aforementioned point of yours says it all.. The likes of piggyvest, branch, carbon, cowrywise has really dived into the game.... Not forgetting that branch is cbn licenced and cowrywise too 1 Like |
Re: Treasury Bills In Nigeria by Oyindamolah: 9:43am On Aug 24, 2021 |
PresidentBuhari:Story, I withdrew some xrp on one of those platforms. |
Re: Treasury Bills In Nigeria by Oyindamolah: 9:44am On Aug 24, 2021 |
Willie2015:You are smart. |
Re: Treasury Bills In Nigeria by Engrfemi1: 11:39am On Aug 24, 2021 |
Good morning to all builders in the house please I want to know the estimate of a decking which d down part is two units of two bedroom flat and the upper part of the building will be a hall for an event center,tho I don't know the measurements of the building yet because am not the one that started it the client just wanted me to continue, please help out,thanks in anticipations |
Re: Treasury Bills In Nigeria by LutanFyah: 12:09pm On Aug 24, 2021 |
Tobex4realTobex234:The "Patriots " will soon tell you that you don't know how to "read". You see them defending rubbish, romanticising pessimism and encouraging all sorts of banning. No country can grow without embracing technology and creating an enabling environment for the youths to thrive. The guy that created a drone has been snapped by a company in Finland but we're focused on banning start ups,Fintechs and Twitter. What stops the ministry of technology from reaching out to the youngster and find a way to make him work for us? When we caution them,they say it's "tashere money" and "ridiculous apps". 4 Likes |
Re: Treasury Bills In Nigeria by AngelicBeing: 12:59pm On Aug 24, 2021 |
Engrfemi1:Post this question on property section of nairaland.com to get professional advice, this place na investment thread, na dollars, pounds, shares, stocks, eurobonds, crypto - currency, and how to use your Naira trade smartly to make gain and how to avoid all the yeye ponzi schemes aka invest 1000 Naira and get 1 billion Naira in 60 days we dey talk here ![]() 8 Likes |
Re: Treasury Bills In Nigeria by richforever123: 5:30pm On Aug 24, 2021 |
ositadima1: Okay, at least you understand the point, there is no way bitcoin can vanish, it is decentralize no Government can ban it |
Re: Treasury Bills In Nigeria by Chuky7(m): 7:29pm On Aug 24, 2021 |
jedisco: Thank you for the response very informative. learnt A lot Please how do you get cheap forex? and what platform you use for the stable coins. |
Re: Treasury Bills In Nigeria by moshino(m): 3:30am On Aug 25, 2021 |
QueenNemesis: Return the money immediately, if you don't like EFCC trouble and prison. No way you can pay 40%, and still make enough money to repay the principal, then make some for yourself. You will end up in EFCC prison. 1 Like 1 Share |
Re: Treasury Bills In Nigeria by omotola90(m): 8:18pm On Aug 25, 2021 |
Who knows about branch financial management? Though they claim they are licenced by cbn....They are offering mouth watering 20% p. a on their investment |
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