piyoo91:
hello emmanuelelewumi please can you put me through on this, Treasury bill and shares of a thing, I have been trying to understand this and how it works all my life but my brain no gree comprehend. I am planning to invest in this every month for the next 20 years

Simply invest in USD and save yourself the stress of this clueless govt.
Thank me later

Exchange rate now N580 per USD

STNWAUME:



Simply invest in USD and save yourself the stress of this clueless govt.
Thank me later

Exchange rate now N580 per USD

I hope you know that you are part of the problem. Let me point it out to you that If we all transfer our nairas to dollar as you preach daily, naira will further decline like a self-fulfilling prophecy.

In the end, we all loose including you. Things like higher costs, increased crime will hit you in the face with full force and everyone u care about in Nigeria.

skydiver01:
Subscription to last week's NTB auction (15 Sept) certainly reduced. I wonder if it was because of panic dollar buying.....hmmm

Nice to see that the thread has not lost its Allure.....

Thanks for the updates guys!!

Cheers!!

ositadima1:


I hope you know that you are part of the problem. Let me point it out to you that If we all transfer our nairas to dollar as you preach daily, naira will further decline like a self-fulfilling prophecy.

In the end, we all loose including you. Things like higher costs, increased crime will hit you in the face with full force and everyone u care about in Nigeria.

Really!

Since FG have faith on Naira why don't CBN convert their $34B Forex Reserve in naira instead of saving in USD 

STNWAUME:



Simply invest in USD and save yourself the stress of this clueless govt.
Thank me later

Exchange rate now N580 per USD

where arr you exchanging dollar for 580.
dollar is 570-565 on the streets since abokifx ban

STNWAUME:


Really!

Since FG have faith on Naira why don't CBN convert their $34B Forex Reserve in naira instead of saving in USD 

If it was that easy they would have simply printed more Naira notes, no need to convert anything.

Read this short passage from Investopedia:

How Foreign Exchange Reserves Work
Foreign exchange reserves can include banknotes, deposits, bonds, treasury bills and other government securities. These assets serve many purposes but are most significantly held to ensure that a central government agency has backup funds if their national currency rapidly devalues or becomes all together insolvent.

It is a common practice in countries around the world for their central bank to hold a significant amount of reserves in their foreign exchange. Most of these reserves are held in the U.S. dollar since it is the most traded currency in the world. It is not uncommon for the foreign exchange reserves to be made up of the British pound (GBP), the euro (EUR), the Chinese yuan (CNY) or the Japanese yen (JPY) as well.

Economists theorize that it is better to hold the foreign exchange reserves in a currency that is not directly connected to the country’s own currency in order to provide a barrier should there be a market shock. However, this practice has become more difficult as currencies have become more intertwined as global trading has become easier.

Example of Foreign Exchange Reserves
The world's largest current foreign exchange reserve holder is China, a country holding more than $3 trillion of its assets in a foreign currency. Most of their reserves are held in the U.S. dollar. One of the reasons for this is that it makes international trade easier to execute since most of the trading takes place using the U.S. dollar.

Saudi Arabia also holds considerable foreign exchange reserves, as the country relies mainly on the export of its vast oil reserves. If oil prices begin to rapidly drop, their economy could suffer. They keep large amounts of foreign funds in reserves to act as a cushion should this happen, even if it’s only a temporary fix.

U.S. foreign exchange reserves totaled $129 billion, as of January 2020, compared to China’s $3.1 trillion.

Russia’s foreign exchange reserves are held mostly in U.S. dollars, much like the rest of the world, but the country also keeps some of its reserves in gold. Since gold is a commodity with an underlying value, the risk in relying on gold in the event of a Russian economic decline is that the value of gold will not be significant enough to support the country’s needs.

Another danger of using gold as a reserve is that the asset is only worth what someone else is willing to pay for it. During an economic crash, that would put the power of determining the value of the gold reserve, and therefore Russia’s financial fallback, into the hands of the entity willing to purchase it.

STNWAUME:


Really!

Since FG have faith on Naira why don't CBN convert their $34B Forex Reserve in naira instead of saving in USD 

Imagine what you uttered out....

This clearly shows you have no idea of what you are saying...... All you know is that naira is depreciating against dollar

STNWAUME:


Really!

Since FG have faith on Naira why don't CBN convert their $34B Forex Reserve in naira instead of saving in USD 

You hear forex reserve and you dey cap none sense. Did you think before typing this brainless post?

Let me help you brain wake up. Wetin be forex and what do countries use the forex reserve for? Please allow google assist your brain to wake up so that you go see how stupid that post was…

STNWAUME:


Really!

Since FG have faith on Naira why don't CBN convert their $34B Forex Reserve in naira instead of saving in USD 

See iti reasoning.Broke ass way no get money no go allow us hear word.Who they pay you dollars for which country.Be deceiving yourself and your village people.

The gullibles and myopic minds can keep deceiving themselves but that won't stop USD from hitting N1000.

I rest my case.

STNWAUME:
The gullibles and myopic minds can keep deceiving themselves but that won't stop USD from hitting N1000.

I rest my case.

Answer the questions that were being thrown at you Mr Economist

STNWAUME:
The gullibles and myopic minds can keep deceiving themselves but that won't stop USD from hitting N1000.

I rest my case.

Why it is risky to convert your naira to dollars or USD(T)

https://nairametrics.com/2021/09/22/why-it-is-risky-to-convert-your-naira-to-dollars-or-usdt/

What are the motivating factors?

How will they get back their funds?

Does that mean they are bullish about the country?

The motivating factor is the ability of the Nigerian govt, to repay it's short, medium and long term loans at the detriment of the local currency.

One thing is for sure;
1. Nigeria will never have the power to print dollars.
2. Nigeria will never develop infrastructures that will comfortable repay it's foreign loans.
3. When the foreign loans are due for repayment and no country is willing to lend anymore, further weakening of the Naira is inevitable.
The current government will borrow even if it's $50 billion to try cover up the bad government policies in the run up to 2023.
Whoever takes over from 2023 will only add more borrowing to the huge debt.

emmanuelewumi:
What are the motivating factors?

How will they get back their funds?

Does that mean they are bullish about the country?

emmanuelewumi:
What are the motivating factors?

How will they get back their funds?

Does that mean they are bullish about the country?

Honestly I was expecting a low turn out , it's either they are not fully aware of Nigeria present economy situation or they choose to be optimistic, and to the local investors,I wonder the medium they source their Fx from inorder to partake in this, considering the $/# volatility ,if you had bought dollar @ 575 to invest in eurobonds then rate go back to #550, that's a huge loss

emmasoft:


@plyoo91 chat/call me with the number on my signature. We can have a one on one session. I believe within a week you will get the rudiments and start investing profitablely.

I have some folks here who are becoming gurus after some seesions with me.

Can I tap in to know more about Treasury bill/bond and shares too?

Foodempire:


Honestly I was expecting a low turn out , it's either they are not fully aware of Nigeria present economy situation or they choose to be optimistic, and to the local investors,I wonder the medium they source their Fx from inorder to partake in this, considering the $/# volatility ,if you had bought dollar @ 575 to invest in eurobonds then rate go back to #550, that's a huge loss

Haba they are more informed about the country than 99% of the citizens

emmanuelewumi:
What are the motivating factors?

How will they get back their funds?

Does that mean they are bullish about the country?

You have raised very vital questions here but instead of us to try and figure out what is motivating them, then see how to benefit if convinced. We will start with dissuading analysis. Yet some of us try to convince people to invest dollar through apps that the owners are not known and may never be reached if they decided to go offline/stop operating.

.

emmanuelewumi:




Haba they are more informed about the country than 99% of the citizens

Gbam

emmanuelewumi:
What are the motivating factors?

How will they get back their funds?

Does that mean they are bullish about the country?

They are seeing beyond this useless government.And the untapped opportunities in different sectors of the economy going forward

mymadam:


Why it is risky to convert your naira to dollars or USD(T)

https://nairametrics.com/2021/09/22/why-it-is-risky-to-convert-your-naira-to-dollars-or-usdt/

US Dollar vs NIG Naira: The Real Issues.


1. Appreciation and depreciation of currency is not related to race or color or who is the president be it Hausa Igbo or Yoruba. It is basically about production of goods and services and the demand of your products in the world market. A confused country that produces almost nothing will never meet up, policies only control your currency not the value of another countries currency against yours.

2. A country where over 500 industries died within 30 years must be stupid to complain of depreciation of her currency. We keep killing local industries and expect policies to make it up, it's a joke sir. Don't use China as an example if depreciating currencies and strong economy, China produces and may attract more export with that strategy unlike Nigeria that produces nothing.

3. A country where someone carried $2+billion simply to be shared is already a doomed one in terms of monetary policy and value. A country that produces Dizeani and Bafarawa who spent billion to appease demons. Those money without economic value is an economic poison injected into the system.

4. A country that favours importation over local production is doomed because it creates employment for another country while sacking her own citizens. Some people are working in Michelin and Dunlop somewhere, yet we use the tyre here. Don't tell me principle of comparative advantage here, it's not applicable.

5. A country that exports all raw materials without adding value is shameless to talk of depreciation of currency, to later re-import finished products of that materials is the peak of daftness. A bag of cocoa will go for like N1 million naira but when it is processed it will worth around N7million. Even farmers who produced raw cocoa can't buy chocolate.

6. A country that deliberately operate banking system that gives loans to importers at the expense of local industries is doomed and should say nothing about depreciation. Most of the loans are given to senators and representatives not industrialists.

7. A country that give loans in billions to agric sector without monitoring & evaluation of such loan on how it gets to the real farmers is a sham. A guy collected over N2 billion agric loan, he bought a jeep, built a nice house and use the rest to import processed pork. Meanwhile, local pork farmers are dying here. Is that not a double tragedy, stressing forex at the same time killing local industries.

8. A country that spends more on few privileged politicians at the cost of the populace who are unemployed should not talk about money depreciation. A country that keeps paying NNPC staff N10 billion as salaries every month when a single drop of petrol was not processed should shut up about depreciation of currency. Crime is rising as value added to the initial failure.

9. A country where it is difficult for investors to register businesses because of the governent officials demanding for bribe. Right from airport, to hotel, to minister to governor etc, investors will bribe, all these are part of cost of investment. A friend brought investor on estate development just for the state commissioner in charge to demand 30% of the investment. To see the governor in a state will cost you N2 million as bribe before you can be scheduled. This is a state as poor as anything.

10. A country where the cost of travelling for treatment abroad by officials will build world class hospitals should not talk about naira against dollar parity. Money taken to that trip is part of stress on forex. Same as forex spend on pilgrimage, let religion fanatics keep off me here. Without going to Mecca or Jerusalem you can still make heaven. You waste forex on pilgrimage to later be talking rubbish about forex.

11. A country where few people have access to federal reserve and those few can get loans are not because of what they can produce but the connection they have, is that country not gone already?

12. A country where we import what we produce because it's cheaper over there is gone.

13. A country that has arable land, teaming idle youths and still complain of hunger should not talk about currency depreciation. It's annoying.

14. A country where free money flows can never control inflow and outflow of forex. Imagine someone who wants to hide his loot went to Aboki to buy dollars worth $50 million just to hide it in the basement of his house. That money has no economic value yet it deprived those companies that need it to import raw materials, those companies go to Aboki to buy at exorbitant price.

15. A country where a strong bank owners can influence shares from within Stock Exchange room to inflate their shares worth from N20 to N150, crash the same share to N30 and ready to buy it back at N28 all within a year. Forget it, currency will never appreciate in such economy.

16. A country where banks are involved in round tripping and inflated cost to siphon money is doomed. A company wants to import 10 Caterpillars worth $50,000. A bank made the forex $550,000 meanwhile no caterpillar was imported at last yet the money faded into private accounts.

Who is straining the forex in that case

STNWAUME:


US Dollar vs NIG Naira: The Real Issues.


1. Appreciation and depreciation of currency is not related to race or color or who is the president be it Hausa Igbo or Yoruba. It is basically about production of goods and services and the demand of your products in the world market. A confused country that produces almost nothing will never meet up, policies only control your currency not the value of another countries currency against yours.

2. A country where over 500 industries died within 30 years must be stupid to complain of depreciation of her currency. We keep killing local industries and expect policies to make it up, it's a joke sir. Don't use China as an example if depreciating currencies and strong economy, China produces and may attract more export with that strategy unlike Nigeria that produces nothing.

3. A country where someone carried $2+billion simply to be shared is already a doomed one in terms of monetary policy and value. A country that produces Dizeani and Bafarawa who spent billion to appease demons. Those money without economic value is an economic poison injected into the system.

4. A country that favours importation over local production is doomed because it creates employment for another country while sacking her own citizens. Some people are working in Michelin and Dunlop somewhere, yet we use the tyre here. Don't tell me principle of comparative advantage here, it's not applicable.

5. A country that exports all raw materials without adding value is shameless to talk of depreciation of currency, to later re-import finished products of that materials is the peak of daftness. A bag of cocoa will go for like N1 million naira but when it is processed it will worth around N7million. Even farmers who produced raw cocoa can't buy chocolate.

6. A country that deliberately operate banking system that gives loans to importers at the expense of local industries is doomed and should say nothing about depreciation. Most of the loans are given to senators and representatives not industrialists.

7. A country that give loans in billions to agric sector without monitoring & evaluation of such loan on how it gets to the real farmers is a sham. A guy collected over N2 billion agric loan, he bought a jeep, built a nice house and use the rest to import processed pork. Meanwhile, local pork farmers are dying here. Is that not a double tragedy, stressing forex at the same time killing local industries.

8. A country that spends more on few privileged politicians at the cost of the populace who are unemployed should not talk about money depreciation. A country that keeps paying NNPC staff N10 billion as salaries every month when a single drop of petrol was not processed should shut up about depreciation of currency. Crime is rising as value added to the initial failure.

9. A country where it is difficult for investors to register businesses because of the governent officials demanding for bribe. Right from airport, to hotel, to minister to governor etc, investors will bribe, all these are part of cost of investment. A friend brought investor on estate development just for the state commissioner in charge to demand 30% of the investment. To see the governor in a state will cost you N2 million as bribe before you can be scheduled. This is a state as poor as anything.

10. A country where the cost of travelling for treatment abroad by officials will build world class hospitals should not talk about naira against dollar parity. Money taken to that trip is part of stress on forex. Same as forex spend on pilgrimage, let religion fanatics keep off me here. Without going to Mecca or Jerusalem you can still make heaven. You waste forex on pilgrimage to later be talking rubbish about forex.

11. A country where few people have access to federal reserve and those few can get loans are not because of what they can produce but the connection they have, is that country not gone already?

12. A country where we import what we produce because it's cheaper over there is gone.

13. A country that has arable land, teaming idle youths and still complain of hunger should not talk about currency depreciation. It's annoying.

14. A country where free money flows can never control inflow and outflow of forex. Imagine someone who wants to hide his loot went to Aboki to buy dollars worth $50 million just to hide it in the basement of his house. That money has no economic value yet it deprived those companies that need it to import raw materials, those companies go to Aboki to buy at exorbitant price.

15. A country where a strong bank owners can influence shares from within Stock Exchange room to inflate their shares worth from N20 to N150, crash the same share to N30 and ready to buy it back at N28 all within a year. Forget it, currency will never appreciate in such economy.

16. A country where banks are involved in round tripping and inflated cost to siphon money is doomed. A company wants to import 10 Caterpillars worth $50,000. A bank made the forex $550,000 meanwhile no caterpillar was imported at last yet the money faded into private accounts.

Who is straining the forex in that case

At least learn to give credit to the owner of this post na

Dr Oni Gbolabo

.

Nezzjnr:

At least learn to give credit to the owner of this post na

Dr Oni Gbolabo

Like seriously.That content was someone else write up.That guy na correct job man,lol

Biafran4life:
Like seriously.That content was someone else write up.That guy na correct job man,lol

I saw it in a group yesterday

XshegzzyeeiX:
Daddies & uncles in the house, greetings unto you.

Please I need urgent assistance as regards any old android phone you may want to dash out. My intention is to kickstart digital marketing skills with it.
Please, help a brother.

So that you go sell the phone and use the money bet abi? You are well known on the betting thread. Wasting your money, begging and scamming people up and down. Wetin you dey gain with all this nonesense? Guy, enter streets go find work to do and stop this online begging and scamming once and for all!

.

As if you get job, keep deceiving yourself there, dem go soon arrest you, mugu!!

Lazyyouth4u:


So that you go sell the phone and use the money bet abi? You are well known on the betting thread. Wasting your money, begging and scamming people up and down. Wetin you dey gain with all this nonesense? Guy, enter streets go find work to do and stop this online begging and scamming once and for all!

XshegzzyeeiX:


Good evening sir. Thanks for your response. Yes, I begged on this platform due to hard times. COVID-19 hit me pretty badly and I'm yet struggling with the effect of the pandemic.
Please, go through my posts before COVID-19 and you will not see anywhere I begged.
Also, I have never scammed anyone on this platform. When I beg, generous individuals willingly assisted me when things was bad for me.

I've decided to quit gambling, as I aim at acquiring digital marketing skills. I type this with a Java phone via free Operamini. I've resolved to do something legit.

Please sir, forgive my past & help me if you can. Help a needy brother.

Much regards.
Thanks...

Please, help a brother.

Theflint1:
Interesting idea but Nigeria isn't a country where people want to stay. What happens when these people start to japa. These people being federal government workers and private middle class employees.

The bulk of the work still lies with the government, or gutsy private business owners who can arm-twist the government into behaving.

This shouldn't be an issue.. dont forget as people pay, the percentage of their share in the house increases. If someone on a mortgage wants to emigrate, they have 3 options...
a. Sell the property (usually at profit), payup the bank loan and use the rest to move
b. Continuing paying their mortgage from abroad while they can rent out the house. Usually, the house rent would cover the mortgage
c. Default on their mortgage. The bank will simply take over the hoise and sell at profit

Nigeria is a country of over 200million. No nation on earth can absorb our population.
True, there has been an emigration boom in the upper middle class, but when you look at the absolute population of Nigerians in those developed nations, its a tiny minority. My point is that well over 95% of Nigerians will live most of their whole lives in Nigeria which is a large enough base.

Most folks in Western nations who retire to exotic Islands usually fund such lifestyle mostly by selling off a property they own or renting it out...

Cyberknight:


Excellent submission - but as has been repeatedly stated in various platforms and publications over and over - Nigeria's problem is not that the government doesn't know what to do or knows what to do and is seeking guidance about how to do it. These people virtually live abroad, they see how things work and know how to replicate some of those things here if they really wanted to.

For all this country's deep problems, it doesn't lack competent people. Obasanjo, with all his faults, showed how it could be done - bring in technocrats, leave them to do their job, let them [try to] make Nigeria work, while the golden goose lays eggs for those in power to feed off.

But now, the people in government at all levels simply DO NOT want to govern properly and are just lining their pockets.

Well said... That's why I don't subscribe to the idea that the state of non functional aspects of our economy is due to a technological gap. The foundation upon which most economies of western nations are built are first principles that have been known for centuries... What Nigeria fails at are the very first principles

As an example, For thousands of years, humans
civilizations have build well organized cities... One now asks why most Nigerian cities designed after independence are practically slums (aside abuja). It just goes on and on in most sectors.
The stock market and mortgage system (which are pillars of Western economies) were largely invented before the coming of computers.... It's all basic economic principles of adding value to a raw product...

The stealing part is do annoying. In the outer world, people are naturally respected based on how developed their nations are. For all their stolen wealth, they'd still be looked down as corrupt African politicians in the West. What's even worse is that they stand to gain more by investing such stolen monies at home yet they ship it abroad at the expense of their kin