Yes it is normal. Both the clean and dirty prices are below N100

Akerewe:


Is the attached bond advice normal?

I discovered it's the opposite of the subject matter. Pls advice accordingly

manwomanok:


what is that FREQUENCY (2) and BASIC (1) mean

Once in a year payment to be ➗ divided into 2.

U get 900k+ in March also another 900k + in September

skydiver01:
Yes it is normal. Both the clean and dirty prices are below N100

Ok thanks🙏 for the swift response.

Precisely cN977,400 on c17th March & cN977,400 on c17 Sept of each year (inclusive of 2024) till the bond matures on 17 March 2027

manwomanok:


what is that FREQUENCY (2) and BASIC (1) mean

skydiver01:
Precisely cN977,400 on c17th March & cN977,400 on c17 Sept of each year (inclusive of 2024) till the bond matures on 17 March 2027

Thank you for your details explanation

skydiver01:
Precisely cN977,400 on c17th March & cN977,400 on c17 Sept of each year (inclusive of 2024) till the bond matures on 17 March 2027

it appears you use coupon rate of 16.29% on your calculation. why sir

thought what i will be getting is yield of 15.0% as sated

Because the coupon rates, which are set at the time of issue, are always used to pay bonds at their nominal values (twice a year) till maturity. The yield is cN15% on your FGN bond 2027 purchase because the clean price is above the nominal price @ N103.07. You did not pay N12m at time off issue, you paid N12.4m (excluding accrued interest because you get this back) so your yield is c15% till maturity. Anyway, March 17 which is a Sunday is not far, so you will find out what your six monthly payments will be when your account is credited on 18 or 19 March, 2024

manwomanok:


it appears you use coupon rate of 16.29% on your calculation. why sir

thought what i will be getting is yield of 15.0% as sated

ogawisdom:
1USD = 1530 today

On Jan 3rd, 2024, I bought more USD at 1230 thinking it was too high. It has been my best financial decision so far in 2024.

Though I have made alot but not happy BC our naira is losing massive value daily.

I went to buy two tyres for my car yesterday and I almost developed deaf ears from the prices quoted

It will get better but we don't know when

You bought USD at that rate and you think it's the best decision?

You will learn 😏

oluayebenz:


You bought USD at that rate and you think it's the best decision?

You will learn 😏

This you?

oluayebenz:
I dont see the dollar going back to 1k naira ever again.

It's currently at 940

oluayebenz:


If you can watch and sell when you will recover your money back, pls do.
I expected dollar to start rising now till December but if it does not happen and by January, dollar will fall yakata for ground.

Itsrm:


This you?

🥱🥱🥱

skydiver01:
Precisely cN977,400 on c17th March & cN977,400 on c17 Sept of each year (inclusive of 2024) till the bond matures on 17 March 2027

How far about ur bond? Not yet debited from stanbic. I don't know y

Dollar is 1350 now

Not my bond. It is manwomanok's bond

Akerewe:


How far about ur bond? Not yet debited from stanbic. I don't know y

cutedharmee:
Dollar is 1350 now

Hmmmmm

skydiver01:
Not my bond. It is manwomanok's bond

Oh! Sorry

manwomanok:


Thank you sir

i noticed an amount of 12m nominal value and amount of 13.09m which is cash amount. what is the cash amount mean? is the different bank commission/charges

I want to learn

How far about ur bond? Not yet debited from stanbic. I don't know y

Akerewe:


How far about ur bond? Not yet debited from stanbic. I don't know y

mine has being debited yesterday

manwomanok:


mine as being debited yesterday

Finally debited yesterday night 1st February.

Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
3rd February 2024

RayRay06677:
Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
3rd February 2024

After temporarily "saving" the Naira with this final and desperate measure, the next crash will be extremely brutal.

RayRay06677:
Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
3rd February 2024

Hian

RayRay06677:
Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
3rd February 2024

It can't work

emmanuelewumi:



It can't work

It makes absolutely no sense. I understand that CBN has debunked it

Fake News!

UPDATED: No plan to convert domiciliary account dollars to naira, vow CBN, Finance Ministry
BusinessDay
February 3, 2024

https://businessday.ng/news/article/no-plan-to-convert-domiciliary-account-dollars-to-naira-vows-cbn-finance-ministry/

RayRay06677:
Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
3rd February 2024

What is this bill all about, can individuals buy it? How can it be bought?

How can I invest in Bond someone pls put me through

Also ,is it advisable to invest in dollars now , I want to open domiciliary account but the rate of dollar presently pissed me off don't want to lose money

emmanuelewumi:



It can't work

Lebanon did it. It started like a rumor. Government denied it and everyone relaxed until one morning. Nobody could get their dollars from the bank. It’s a risk that comes with keeping your fx in local bank accounts. Anything can happen at anytime and nobody will see it coming…

Any recommendations on reliable alternatives to keep fx aside local banks?

Wotowotoman:


Lebanon did it. It started like a rumor. Government denied it and everyone relaxed until one morning. Nobody could get their dollars from the bank. It’s a risk that comes with keeping your fx in local bank accounts. Anything can happen at anytime and nobody will see it coming…

heavenisreal18:
How can I invest in Bond someone pls put me through

Also ,is it advisable to invest in dollars now , I want to open domiciliary account but the rate of dollar presently pissed me off don't want to lose money

Look into eurobonds.

And do your due diligence.

As long as these greedy unpatriotic elements continue to parade themselves as leaders expect naira to get to 10k to $

If it gets there within a couple of years I won't be surprised.

U are generating epileptic power supply of about 3000+ megawatts and u say want to turn Nigeria from an import dependent into a industrial, producing nation. Kontinue


This is year 2024, common 24 hours electricity you can't deliver.

@ everyone Thank you all for your responses, I have gain alot from all post last week.

one more thing, when is the last week fgn bond going to be reflect on my cscs. is it suppose to be immediately or specific period of time after successful bidding,

FG Update on FX/Naira:

*On FX Backlogs*

- We met $7 Billion in unpaid obligations
- We had reason to believe we needed to take a harder look at those obligations.
- Deloitte was contracted to do a forensic audit of what is valid or not. The results were startling
-- $2.4 Billion had issues
-- Not having valid import documents
-- Entities did not exist got allocations
-- Entities who asked for FX got more than they asked.
-- Entities that did not ask got allocations
- We wrote to the authorized dealer to explain. Sadly much has not been disputed.
- $2.3 Billion of the validly executed ones including Airlines have been cleared.
- What remains is $2.2 billion. We are confident we will address those. We have come to the end of the road.
- The Naira remains undervalued
- The Naira will stabilise.

*On Interventions*

- We have no illusions that interventions are necessary in our country. They help to channel resources to people however small.
- However, it is important to ensure that the framework is there to ensure it gets to those who really need it.
- The CBN will focus on it's core strength.
- We will be working closely with those whose core strength is in the intervention space.
- We cannot think and implement at the same time.
- We do not have the luxury of failed interventions.

*On the MPC*

- We were concerned that the transition was questionable. We took our time to ensure as much as possible that the MPC is impactful and complements the fiscal side.
- It signals we are moving the MPC in the right direction.
- The new CBN is fully focused on Stabilization of prices and lowering inflation.
- The MPC will reflect the new direction of the CBN focus and core mandate.

*On Communication*

- We are revamping the whole communication strategy of the CBN.
- We are engaging various stakeholders to get feedback on the various things we are implementing.