Hamachi:
Are you sure? Can you share documents showing the rate.

It's gathering momentum to get there

VeeVeeMyLuv:

It's gathering momentum to get there

25%

Acidosis:



No. You can't buy directly from CBN.

Whether you're buying from the primary or secondary market, you have to go through your bank.

Please who in the bank should I meet for this. Which section handles T-Bills ?

Can someone please direct me on the best bank in Nigeria to start my treasury bill’s investment

And which section of the bank handles this ?

Sorry for the questions, I’m a newbie

JaySterling:
Please who in the bank should I meet for this. Which section handles T-Bills ?

I think GTB has a dedicated unit for tbills, FD, and related investments. A customer care/service rep also met my Tbill needs some years back at Sterling bank. These are outdated information so you'll need to visit your bank for more.

I have a feeling that most of the people here are done with Tbills, so there's no point waiting for anyone to advise you.

JaySterling:
Please who in the bank should I meet for this. Which section handles T-Bills ?

Meet your accounts officer preferably. Rates are high for tbills at the moment.

Odunharry:

Meet your accounts officer preferably. Rates are high for tbills at the moment.

what is the rate

Acidosis:


I think GTB has a dedicated unit for tbills, FD, and related investments. A customer care/service rep also met my Tbill needs some years back at Sterling bank. These are outdated information so you'll need to visit your bank for more.

I have a feeling that most of the people here are done with Tbills, so there's no point waiting for anyone to advise you.

They are done with T-Bills meaning they have upgraded to other forms of investments, like saving in dollar ?

Tbs should be nothing less than 22% by now as dollar is now #1,650. The economy isn't economiking, I wonder how the civil servants survive on a daily basis.

Foodempire:
Tbs should be nothing less than 22% by now as dollar is now #1,650. The economy isn't economiking, I wonder how the civil servants survive on a daily basis.

The economic crisis is heading the path of Venezuela.

USD @ 2000 is almost certain by march due to massive buying of USD for hoarding and speculation at any price.

A friend bought 5000 USD two days ago at 1495 and today it is at 1605. That is 110 x 5000 = 550k profit in few days.

Imagine those that can buy 100k USD for hoarding & speculation.

Floating naira was a terrible decision that will sink Nigeria if not reversed.

To compete well TB should be over 25% now BC it looks unwise to chain down money in naira for a year BC the value will be gone by the time you receive it due to super hyper inflation. USD is the Koko now

ogawisdom:


The economic crisis is heading the path of Venezuela.

USD @ 2000 is almost certain by march due to massive buying of USD for hoarding and speculation at any price.

A friend bought 5000 USD two days ago at 1495 and today it is at 1605. That is 110 x 5000 = 550k profit in few days.

Imagine those that can buy 100k USD for hoarding & speculation.

Floating naira was a terrible decision that will sink Nigeria if not reversed.

To compete well TB should be over 25% now BC it looks unwise to chain down money in naira for a year BC the value will be gone by the time you receive it due to super hyper inflation. USD is the Koko now

Buying dollar at this point is extremely risky..

CBN is about to reverse the floating of naira policy.

ogawisdom:


.....
[b]To compete well TB should be over 25% [/b]now BC it looks unwise to chain down money in naira for a year BC the value will be gone by the time you receive it due to super hyper inflation. USD is the Koko now

Hehe... nd where would this 25% come from?
Is it it money that is being printed to reward banks?

Many developing nations just copy western nations by raising interest rates thinking this would work on inflation without understanding the intricacies of western economies

oluayebenz:


Buying dollar at this point is extremely risky..

CBN is about to reverse the floating of naira policy.

Reverse and then fix at what rate?
The gallop from 1k to 1.5k was quite clear over 3months ago. I'm surprised it took this long.

Once 1k was breached and the exchange settled above 1.2k, it was clear 1.5k was only a matter of time. I remember stating that here.
I expected the CBN to put a fight at 1.5k which they have. For the love of my nation, I hope they succeed else 2k and subsequently 3k wouldn’t take too long. If they can't reign in at this level, wouldn’t surprise me they go next for Domiciliary accounts soon as they are running out of options.

What surprised me this time was the haste in which the market responded. People have truly learnt. With previous devaluations, it usually took 2-3 months for the effect to be felt in the market. This time around, prices were up the next day.

jedisco:


Reverse wnd then fix at what rate?
The gallop from 1k to 1.5k was quite clear over 3months ago. I'm surprised it took this long.

Once 1k was breached and the exchange settled above 1.2k, it was clear 1.5k was only a matter of time. I remember stating that here.
I expected the CBN to put a fight at 1.5k which they have. For the love of my nation, I hope they succeed else 2k and subsequently 3k wouldn’t take too long. If they can't reign in at this level, wouldn’t surprise me go for Domiciliary accounts soon as they are running out of options.

What surprised me this time was the haste in which the market responded. People have truly learnt. With previous devaluations, it usually took 2-3 months for the effect to be felt in the market. This time around, prices were up the next day.

Na wa o. Even that hopeless man here that has been saying that he will keep his ‘audio billions’ in Naira for eternity don dey para. Hahaha 🤣

oluayebenz:


Buying dollar at this point is extremely risky..

CBN is about to reverse the floating of naira policy.

I pray they can reverse the policy without further delay but they won't . It's a presidential directive and only Tinubu can reverse it if we occupy the streets.

Another thing you should know is that politicians and elites including everyone in CBN can't shoot themselves, they are all in the USD speculation game.

They all save in USD, participate in the hoarding and speculation & cashing out big time.

CBN is even selling USD to banks at 1490 to banks, banks will sell 1550 to 1600 to BDC and BDC will sell 1700 & above.

Any scarcity will disrupt this price pattern and it goes further up.

If not for the secret subsidy fuel should be 1200 & above now

ogawisdom:


I pray they can reverse the policy without further delay but they won't . It's a presidential directive and only Tinubu can reverse it if we occupy the streets.

Another thing you should know is that politicians and elites including everyone in CBN can't shoot themselves, they are all in the USD speculation game.

They all save in USD, participate in the hoarding and speculation & cashing out big time.

CBN is even selling USD to banks at 1490 to banks, banks will sell 1550 to 1600 to BDC and BDC will sell 1700 & above.

Any scarcity will disrupt this price pattern and it goes further up.

If not for the secret subsidy fuel should be 1200 & above now

The policy is not working and it's getting out of control.

CBN will fix the rate at 1k... anytime soon

Info from insider

jedisco:


Reverse wnd then fix at what rate?
The gallop from 1k to 1.5k was quite clear over 3months ago. I'm surprised it took this long.

Once 1k was breached and the exchange settled above 1.2k, it was clear 1.5k was only a matter of time. I remember stating that here.
I expected the CBN to put a fight at 1.5k which they have. For the love of my nation, I hope they succeed else 2k and subsequently 3k wouldn’t take too long. If they can't reign in at this level, wouldn’t surprise me go for Domiciliary accounts soon as they are running out of options.

What surprised me this time was the haste in which the market responded. People have truly learnt. With previous devaluations, it usually took 2-3 months for the effect to be felt in the market. This time around, prices were up the next day.

1k most likely.

oluayebenz:


The policy is not working and it's getting out of control.

CBN will fix the rate at 1k... anytime soon

Info from insider

Not possible to go that low they have put it at 1490 already....

If they reverse the policy they can only hold it at 1500. And black market where it is accessed will sell at 1700. Difference of about 200.

oluayebenz:


The policy is not working and it's getting out of control.

CBN will fix the rate at 1k... anytime soon

Info from insider

Continue making noise

Itsrm:


Continue making noise

Just wait and see.

You will learn

oluayebenz:


Just wait and see.

You will learn

Sure. I learnt the hard way. If I had listened to people like Jedisco several years ago and converted my money to Fx, would have been in a far better financial position.

Will never make that mistake again.

Itsrm:


Continue making noise

Itsrm:


Sure. I learnt the hard way. If I had listened to people like Jedisco several years ago and converted my money to Fx, would have been in a far better financial position.

Will never make that mistake again.

Dollar is likely heading to 2000 naira to a Dollar ,on or before December 2024, unless the Eggheads in charge of economic management of Nigerian economy , wake up and do the right thing


l said it few days ago and it is gradually heading to 2000 Naira, and if it continues like this, before December 2024, it might be 4000 to 6000 Naira to the dollar

AngelicBeing:
Dollar is likely heading to 2000 naira to a Dollar ,on or before December 2024, unless the Eggheads in charge of economic management of Nigerian economy , wake up and do the right thing

Before is more like it. Will be very surprised if it takes that long. Went from 1100 in January to 1600 in February.

oluayebenz:


The policy is not working and it's getting out of control.

CBN will fix the rate at 1k... anytime soon

Info from insider

Fix black market rate?

Itsrm:


Before is more like it. Will be very surprised if it takes that long. Went from 1100 in January to 1600 in February.

Exactly, the biggest business now in Nigeria is dollar racketeering / hoarding and selling of dollars round-tripping , Kidnapping and ransome payments by different gangs in different parts of the country, political criminals in Abuja sharing the common Wealth of the citizens while feigning ignorance of the hardship in Nigeria, Docile glorified , rubber stamp criminal National assembly members who are only concerned about their monthly / quartely constituency allowances etc.

Nigeria in my opinion is gone, say what you want to say , and continue to be a zombified patriotic citizen while your thieving politicians are raping the country daily, you can't continue to or practice voodoo economics and do the same wrong things yearly and expect a change , that is insanity

Is anyone using Investnow here? I'm sick of those people.

donshady:
Is anyone using Investnow here? I'm sick of those people.

What Happened?

oluayebenz:


1k most likely.

Nah, probably 2k & I am being really really optimistic cause honestly, people are suffering

Anybody wey dey follow Kenyan Shillings go see say the currency been dey depreciate along with Naira. Omo, that currency suddenly started appreciating last week. It was about 165 to a dollar just a couple of weeks ago. Right now, it is around 150 to a dollar and expected to continue to appreciate. It may even reach 100.

God help us if Naira starts to appreciate like that. A lot of people wey dey hold dollar will get heart attack. Some go even go drink sniper cos the pain will be unbearable…

I'm with them. They are hopeless

donshady:
Is anyone using Investnow here? I'm sick of those people.

DonationWorld:


What Happened?

Thier rates are always terrible and lagging. Sometimes the profit aren't added. I'm so done with those idiots. I'm pulling out tomorrow morning.