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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4615481 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 oluayebenz: 1:04pm On Nov 10, 2021 |
1 Like |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 1:13pm On Nov 10, 2021 |
AlphaLion: I agree with you, even if you studied Busines Administration and you have built duplexes in Europe and US that experience is enough for you to build 30 storey skyscraper in Lagos and our big men will buy an apartment for a minimum of $1.5 million in that paradise in the sky project 1 Like |
Re: Treasury Bills In Nigeria by mymadam(m): 1:15pm On Nov 10, 2021 |
emmanuelewumi: Table-shaking? Toor ![]() |
Re: Treasury Bills In Nigeria by Coolabbie: 1:30pm On Nov 10, 2021 |
EarlyCareer:This is an understatement!!! As a freelancer, I recently interviewed for a $40/hr position. I was bummed when I did not get it but that feeling vanished when I stumbled on that subreddit. Much of the people there are earning between $7 - $22/hr. I even saw where someone is earning $2.50/hr in America! To put it in context, I started freelancing a while back and I was charging $15/hr as a newbie, in Nigeria. And these positions over there require you working 80 hours a week, at least. For me, it’s a very busy week when I work up to 30 hours. Sad thing is that most of them are juggling 2-3 jobs and still can’t make ends meet! I am presently camped on that sub and just reading. I am still reading. The fact that this is mostly the experience of white Americans is another thing that makes me shudder. Like they say over there, “If white America catches a cold, black America gets pneumonia, not cough.” So if the whites are shouting like this… It is well. 3 Likes 1 Share |
Re: Treasury Bills In Nigeria by Coolabbie: 1:31pm On Nov 10, 2021 |
emmanuelewumi:For the first time I know this one! But let me drink warra and mind my business ![]() |
Re: Treasury Bills In Nigeria by EarlyCareer: 1:47pm On Nov 10, 2021 |
Coolabbie: True. Inflation seems to compound many of their present challenges too, the bills keep piling up. The wealth inequality is also shocking, and the form of capitalism they practice is also partly the reason why in many parts of their country, workers are threatening to unionise e.g. John Deere. People especially blue collar are also silently revolting. - they've tagged it "the great resignation". Folks are just tired of working. If you'd ask me, they work non stop there. That's a recipe for health disaster I thought that Nigerian work environment is generally toxic, but after reading a few posts there, I can say its almost the same or even worse there. You can get fired in a second. And once health insurance is lost, one bad illness can throw you into much deeper debt. People are still making it there, but I'm not sure that that number is part of the majority. Remote work is a game changer for freelancers, and many highly skilled workers. You get the best of both worlds - sort of. Great income via forex, low cost of living, low tax, and in some cases, great benefits and bonuses. If you have a good savings habit and can keep such jobs or gigs for at least 5 years, you'd have accumulated good money which can be invested. 4 Likes |
Re: Treasury Bills In Nigeria by Nobody: 1:48pm On Nov 10, 2021 |
emmanuelewumi:With the way things are going now, I may just sell my father's plot of land and send my younger brother over there. I will tell him to learn the accent very well so he can come back, package, open fintech app. Boom! We are rich. 5 Likes |
Re: Treasury Bills In Nigeria by Coolabbie: 1:57pm On Nov 10, 2021 |
EarlyCareer:You are so right! I am always thankful that I discovered this thread and this section. The discussions have really been enlightening and helped in getting my finances in order. Thank you for the conversation. ![]() |
Re: Treasury Bills In Nigeria by Coolabbie: 1:58pm On Nov 10, 2021 |
AlphaLion:Please stop! ![]() |
Re: Treasury Bills In Nigeria by EarlyCareer: 2:02pm On Nov 10, 2021 |
AlphaLion: Chei ![]() |
Re: Treasury Bills In Nigeria by EarlyCareer: 2:03pm On Nov 10, 2021 |
emmanuelewumi: ![]() |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 2:10pm On Nov 10, 2021 |
EarlyCareer: Na packaging and ability to market yourself make DJ and Nite Club manager in the US, to become the CEO of a quoted company in Nigeria and even married a celebrity beauty queen 2 Likes |
Re: Treasury Bills In Nigeria by EarlyCareer: 2:34pm On Nov 10, 2021 |
emmanuelewumi: Thanks boss. I know the person and company now. ![]() |
Re: Treasury Bills In Nigeria by ajsans: 2:45pm On Nov 10, 2021 |
EarlyCareer: Iseghohi? |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 2:52pm On Nov 10, 2021 |
Re: Treasury Bills In Nigeria by Nobody: 3:18pm On Nov 10, 2021 |
ajsans: ![]() |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 5:57pm On Nov 10, 2021 |
Lazyyouth4u: He worked 3 years at PWC as a Financial Analyst baba. Even PWC Nigeria you won't find dummies working there. Once again, this is not a validation for people to go and put their money on Rise, because I've noticed that people here are waiting for who they will hold if something happens ![]() |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 6:02pm On Nov 10, 2021 |
Nwokeomajayb: Lol. I like how you started with that notice. For crypto especially, during a bull market everyone looks like a genius. You could throw a dart at a random coin and see gains. So, lots of charlatans started hyping their predictive abilities. In the end, time proves all. We are on a bull run, not just SHIB, almost all the coins listed on Binance have done 100% in the last few months. |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 6:08pm On Nov 10, 2021 |
EarlyCareer: Very true. People need to understand that everything is a mirror. If you don't have up to 500k in your account in Nigeria, you may likely not have up to 1,000 Euros here. Na when I they find house for here I see say nothing concern landlord with where you come from. Once everybody submit his payslip na person wey get most reasonable pay (at least 30% of net) him they give apartments. Though, the truth is that unlike Nigeria, there are standard laws here like fair enough minimum wages. So instead of being jobless, you can at least get busy with something. Unemployment rate in Germany is 6%, Nigeria is 33%. That figure is saying that, it is easier to not be idle in Germany than in Nigeria. But productivity is a different conversation from comfortability. 3 Likes 1 Share |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 6:14pm On Nov 10, 2021 |
That is why we tell people. Learn a high income skill first. Whether you're in Nigeria, Pakistan or Iran. Footballers, designers, software engineers, project managers e t.c are in demand and well paid everywhere. Learn a high income skill. All these Uber, waiter, or any blue collar job will always be stressful, anywhere. This is a mentee I was chatting with today that is 2 years in the tech field and I still feel he is underpaid. 2 Likes 4 Shares
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Re: Treasury Bills In Nigeria by EarlyCareer: 7:00pm On Nov 10, 2021 |
Tobex4realTobex234: You're right. There are more jobs available there than here. My views might be a tad simplistic when comparing all these places with our situation here, which is why I said, anyone that does not yet have a good source of income could go abroad. Europe is better, in my opinion. The choice of where to move to lies with the intending traveller. As long as they understand the realities of where they would be moving to, then they should be able to cope. Regardless, Remote work is the future. Those fortunate to tap into it will get the best of both worlds to a large extent. 1 Like
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Re: Treasury Bills In Nigeria by Nobody: 8:06pm On Nov 10, 2021 |
Tobex4realTobex234: 3 years analyst in PWC you say?? Do you know what an analyst is? Entry level. Lowest of the lowest. In PWC - an accounting firm that does auditing and low profile consulting jobs. Not even an analyst in a top investment banking firm which on its own is bad enough. An IB analyst does grunt work (PowerPoint and excel) but can still manage to enter large deals if lucky. A PWC analyst can’t even go to client meetings. And after that, idiots are giving him money to invest for them. Real premium tears loading…. 4 Likes |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 9:19pm On Nov 10, 2021 |
Baba that dude knows well enough than majority of people on this forum (I am not recommending Rise still, use at your own risk). He is neither a DJ nor a low lifer as you people are claiming. He was a cofounder with Buycoins before he sold his stake. Also he was at YC (greatest tech incubator in the world). He definitely knows more than the average Nairalander, you know they see the kind questions wey people come they ask for here? |
Re: Treasury Bills In Nigeria by LordAdam16: 9:47pm On Nov 10, 2021 |
Tobex4realTobex234: No b everybody head fit carry am. That is the crux of the issue. In that same US, this year, several major investment houses bumped the starting pay for first-year analysts to $100,000+. https://www.bloomberg.com/news/articles/2021-08-02/goldman-sachs-bumps-junior-banker-pay-aligning-with-rivals Amazon employs some 1.4 million people. But while some are being paid $15/hr working soul-crushing, back-breaking warehouse jobs where they have to pee in bottles; others are being paid 80/hr with generous benefits as software engineers for their AWS platform. Not everyone has the cognitive ability to become a neurosurgeon, $500/hr attorney, investment banker, or developer. The Bell Curve is a pictorial representation of why that is the case. The vast majority of people will work average service and industrial jobs of middling economic value. Unfortunately, inflation has outstripped wage growth. So the low-skilled, low-wage jobs that used to be manageable in the heydays of American exceptionalism just after WW2 are now grossly insufficient. Cue the left-wing politicians, social commentators, think-tanks and non-profits, and grifters preying on these displeased horde of worker bees by convincing them higher taxes on high earners will be the magic wand. Because heaven forbids you tell a single mom no one will pay her $40/hr to wait tables as it makes no economic sense, regardless of how stressful the job is or how high her bills are stacked. The human thing to do when your skillset is incapable of acquiring the resources you need and want is to forcefully take and redistribute from those who in your opinion have more than enough. When you can't do it, you lend your support to the mob, politician, or political party that promises to do so on your behalf. That is the entire 21st century Western labor debate and origin story of "Tax the Rich" slogan in a few paragraphs. Meanwhile, uninformed suffering-and-smiling merchants in third-world sh*tholes think that validates their assertion that because they're miserable and can't even boast of uninterrupted power supply in a corrupt, nighmarish hellscape where life is ridiculously cheap and laws are mere suggestions, that means everyone is miserable elsewhere. When all is said and done, over the next few centuries, the Western elite are going to have robots do most of the thankless, unskilled and low-skilled jobs; have a well-paid professional class keep things running smoothly; and place the average Joe and Jane on a blend of welfare packages comprising Universal Basic Income, Unemployment Benefits, Child Credit, free necessities (education, health care) et cetera. Already, France has an annual federal budget of circa €650 billion but spend a whopping €500 billion on welfare across all levels of government. This is in a country of 68 million people where more than 50% of the population do not pay income tax. -Lord 4 Likes 1 Share |
Re: Treasury Bills In Nigeria by skydiver01: 10:13pm On Nov 10, 2021 |
Few centuries? It has started already in many automated manufacturing facilities in Europe and Asia including China. E.g. over the last 30 years, 70% of the human labour assembly components of vehicles have disappeared (now automated with robots). And there are other examples too like automated warehousing logistics, package deliveries by drones etc etc. LordAdam16: |
Re: Treasury Bills In Nigeria by skydiver01: 10:17pm On Nov 10, 2021 |
You may find the news below both entertaining but I imagine quite sad too. https://www.nairaland.com/6843742/senate-approves-buharis-16-billion https://punchng.com/breaking-senate-approves-buharis-16bn-e1bn-loans-request/ |
Re: Treasury Bills In Nigeria by EarlyCareer: 10:55pm On Nov 10, 2021 |
LordAdam16: Fantastic perspective shared. I do hope my previous comments did not send the wrong message. There was no intention to 'diss' our abroadian bros and sister. If it did, apologies. That being said. The great resignation which I wrote about does not affect only blue collar workers, it also includes 'high level paying' - e.g. senior software developers, big tech, engrs. Now, this could be linked to many more factors asides toxic work culture, and long hours. The covid pandemic helped fast track a lot of other underlying issues too, including general burn out. It is typical that due to this challenge, and taking into consideration inflation, most companies including big tech will have to increase their wages/salaries/benefits in order to retain and attract workers. - it is currently an employees market in the USA. (Which is a good thing, if you look at it from another perspective). Workers can demand better incentives. Another example, A top earning JP Morgan staff made headlines for resigning to focus on play to earn crypto industry. Now, regarding us third world workers, many remote works are actually not only in tech. To God be the glory, I do not live a miserable life. There are many more here in Nigeria earning very good wages in top level remote jobs, nor per hour. And yes, the cost of living does favour us, besides the typical Nigerian challenges you mentioned. Our people abroad work very hard and must be respected for that. The realities of life abroad still remains, just as our reality too remains. Let folks do what works for them. Hopefully, the examples below could help stimulate better conversations. https://medium.com/codex/why-senior-developers-are-leading-the-great-resignation-movement-37b93ab9a634 https://www.youtube.com/watch?v=DhIu4AWVfHc https://www.cnbc.com/2021/10/19/the-great-resignation-why-people-are-quitting-their-jobs.html https://www.youtube.com/watch?v=J2retN4TEA0 2 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 2:41am On Nov 11, 2021 |
Alot of sarcasm has been shared over the last two pages... Some comparisons can be like apples and oranges if not put into perspective. Every nation has its challenges and of course, there is no free lunch anywhere. But then, opportunities differ. Some of our perceptions are worsened by those who feel western nations are without challenges or by those back home who feel relatives in diaspora are plucking money from trees. Problems can be relative. When citizens in Western nations complain about certain things e.g security, education, job.. among themselves, it's worth asking them what they feel about same situations in African nations... You'd be surprised at how they see us. Like the post from Reddit subgroup, ask those folks what they think about migrating to Nigeria and see their response. To me, it all boils down to the pyramid of need... It's not just individuals that be be graphed on it but also nations.... What a nations in one group mean by poor work conditions is usually very different from what nations in another group mean 4 Likes
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Re: Treasury Bills In Nigeria by jedisco(m): 2:53am On Nov 11, 2021 |
One good example was a while back when someone was arguing that food is much cheaper in Nigeria than the West simply because he was looking at a direct exchange conversion. It was after breaking details down I explained that food is at least 3-5 times relatively more expensive in Nigeria than the West. When I see some news on front page and how its glossed over, I sit down and think.... Just imagine that 250 kids went to school in the UK/US and did not return cos they were kidnapped.... The president would sure fly in, numerous enquiries would take place, lots of people would lose their jobs, even our own president will 'stand with them' and send consolatory messages. Yet it's become a frequent occurrence in Nigeria. Another is the complaint about taxes here. Another thing folks fail to see is that Western nations need their citizens to work and pay tax or else, the government would have to pay them benefits. That means that no matter the legal job folks there are doing, the minimum wage is structured so that one can live a sensible life off it. Same also, no matter how high the taxes there seem to be, they are structured in such a way that it should makes sense to work and pay. On the other hand, in Nigeria, you need to work to live. That's why I find it odd when folks here keep talking about high taxes in the West... If it was so straightforward, folks there would be rushing to live here so they don't pay tax. I can go on and on.... Fact is it all boils down to perception.... Dangote saying he's broke is quite different from Fashola being broke and also different from the akara lady being broke.... Not everyone will prosper if they migrate but a good chunk will be able to eck out a more sensible life in the West if they put in same effort they put here in Nigeria P.s. this has nothing to do with financial instruments 15 Likes 1 Share |
Re: Treasury Bills In Nigeria by FEGEITOK: 5:00am On Nov 11, 2021 |
Labadi69: @jedisco Please don't stop Some of us have the processing power to process it all. Thank you 5 Likes 1 Share |
Re: Treasury Bills In Nigeria by EarlyCareer: 6:54am On Nov 11, 2021 |
jedisco: Great perspective. Again, as much as I agree with you, jedisco, the focus is on the USA. Your comment, while being true, is a blanket statement. Things are very different when compared with other developed nations. All you mentioned here is well obtained in Europe, Australia, and other good developed nations. My preference for Europe is because people have much better work life balance and living standards regardless of justified high taxes and other challenges too. Of course, nothing is free, the high tax is the price to pay. In the US, many, and I mean, very many people do not even earn minimum wage, hence the strong tipping culture and overtime drive there (mostly blue collar to be fair. Remember however that blue collars are the backbone of every economy). Many Americans may not be able to access quality health care due to high cost. - the highest globally. I might even say that a well to do/well earning Nigerian with international insurance has access to better health care than most Americans. Unless you have a good job that offers good health insurance a benefit. I'd think that this may be why there is some push for universal health care and universal basic income by leftist politicians...some radical left are even pushing for a mix of socialistic approaches to some of the challenges stated. Many wealthy Americans or financially independent Americans are considering moving away to better or cheaper cointries such as Portugal etc and in some cases, outrightly denouncing citizenship. There is push for higher taxes for billionaire and wealthy people due to high wealth inequality and many other factors. https://www.independent.co.uk/news/world/americas/americans-drop-citizenship-record-2020-b1897461.html Of course, life is more precious there and crisis such as kidnapping and terrorism are taken much more seriously than here in Nigeria where we don't care at all. However, America is still not even a relatively safe country to live in when you consider gun violence, even the same kidnapping too. The statistics is all over the Internet if anyone is interested in checking. I Don tire to dey copy paste. In summary, the purpose of the previous discussion was to reteriate the importance of having realistic understanding of where young Nigerians want to move to, and to go to much better places if possible. And the great opportunity that remote work provides....USA is not Eldorado, there are other better countries. Opportunities remain there and folks who are strategic and go with the right mindset will still make it.....platforms like nairaland ensure that the right info is shared for people to make better decisions. Yes, Nigeria is a shithole. We all agree. The poverty capital of the world is currently in ticking time bomb mode. Unemployment is at critically and dangerously high levels, yes. Which is why youths must make the right decision when moving abroad. I don't think a worker here in Nigeria who earns as much as a worker in the same job role in the USA will feel cost of food prices as much as the USA counterpart. I will not explain beyond this. This is my experience. Edit: on second thought, even a banker living in Ibadan has access to cheaper food prices more than a banker earning the same wages living in Lagos. If you could share a link to where you got that food price comparison, then maybe I'd believe that statistics you mentioned. I insist. The USA is a great place, however some other developed countries are better. I say this without malice or disrespect to abroadians. 3 Likes |
Re: Treasury Bills In Nigeria by Labadi69: 8:37am On Nov 11, 2021 |
All of you writing all this very long epistles, hand no dey pain una? Don’t you know we are all busy and have no time to read junk? Please be guided o and keep things short before strong smelling yamayama nack una for forehead this early momo ![]() 3 Likes |
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