N362/$.

SaintUlot:


At what rate did you buy?

TotoNaRubber:


N362/$.

Was it @ the bank or through Aboki?

deepwater:


yours above is correct, no doubts.
However, container dey fall for road, shop dey catch fire, lagos state government is notorious in relocating markets to another location after yuletide season, iyaoloja dey lock shop at will, customs don increase exchange rate the day before yesterday container dey high sea! importer don dey run around to look for more money to clear goods to avoid demurrage, landlord go increase shop let for trinity/berger cement/ijesha were u go offload.....


Gentle man walk into STANBIC buy NTB go house, 2 days later him get debit and credit at the same time. Him go sleep dey look una, dey wait for another 364 days.

If business sure pass, nobody go go school.

FYI, na we carry okrika from magazine enter badagry that year, government vex pack everybody go vespa. na so vespa market start.
Before u know, girls begin enter China go bring okrika everybody bone south korea. today everybody na importer for IG.
Business na for person wey don chop belleful, no be for struggling people. hence the high rate of start-up failure.
U never see gain, u reach house kerosene no dey to cook and u say u no wan touch capital, omo leave that thin.

Bottom line, we dont have enabling business environment yet. so avoid huge risk except u have access to huge bank funds.... last last na wetin close diamond bank be that.

if the business been pay well, people for return the money

naira get devalued ever 5 years cycle that risk is equivalent to all those you listed in running a bussiness too we lost 50 percent of our holding from 2015-date cos dollar moved from 180 to 360.....my wife Msc in ireland cost 12000 euro that was 2.8 m in 2013 now 2018 my younger bros paid 5 m for same course same school ...can u understand their notting like zero risk it imaginary even the cbn stated this as risk

deepwater:


yours above is correct, no doubts.
However, container dey fall for road, shop dey catch fire, lagos state government is notorious in relocating markets to another location after yuletide season, iyaoloja dey lock shop at will, customs don increase exchange rate the day before yesterday container dey high sea! importer don dey run around to look for more money to clear goods to avoid demurrage, landlord go increase shop let for trinity/berger cement/ijesha were u go offload.....


Gentle man walk into STANBIC buy NTB go house, 2 days later him get debit and credit at the same time. Him go sleep dey look una, dey wait for another 364 days.

If business sure pass, nobody go go school.

FYI, na we carry okrika from magazine enter badagry that year, government vex pack everybody go vespa. na so vespa market start.
Before u know, girls begin enter China go bring okrika everybody bone south korea. today everybody na importer for IG.
Business na for person wey don chop belleful, no be for struggling people. hence the high rate of start-up failure.
U never see gain, u reach house kerosene no dey to cook and u say u no wan touch capital, omo leave that thin.

Bottom line, we dont have enabling business environment yet. so avoid huge risk except u have access to huge bank funds.... last last na wetin close diamond bank be that.

if the business been pay well, people for return the money

Once Nigerians hear say one person don dey make money from one business, everybody go begin jump enter without studying the business or studying the environment and location. The next thing, the business go fail and the person go then dey point at one old woman for village as the cause. Some start very high in an area that cannot afford such charges and complain of lack of customers. How will you get customers when for instance you open a posh tailoring sewing shop with A/C and all the effizy and charge three times what others in the vicinity are charging and expect to get customers?. You dey sew your own cloth with robots?.

Please, does anyone know why Gov Emefiele introduced the dual exchange rate system back in 2014? I'm struggling to understand why we have it.

TotoNaRubber:


N362/$.

I got it N361 at Wuse Zone 4 today.

deepwater:

Look at it this way instead

Tell me what business in Nigeria that would return an interest of 1m within 48hours after investing a capital of 10m and with 99.99% assurance of getting your 10m back in 364 days.

No shop rent, no transportation, no association dues, no feeding at work/shop expense, no nothing.


Do TBills at an advance stage, u will enjoy it.

My advice to young couples.

Forget flashy things, raise 10m, split it into 4 equal parts.
Buy Tbills with sense at good rates preferably every quarter. So u get returns every quarter

On no account should u touch that principal, every year reinvest it and take the interest to settle your needs.

That way you are already on FG payroll, that is how Nigeria social security works. You dont need to have an employment with FG before they pay your house rent or children school fees. All you may need is a bond or bill.

Buy that bill today

What would become of the capital after 5 years if we "eat" the interests? Do you think the capital will retain its value?

Your analogy, though great, raises a strong contest against compound interest.

Acidosis:


What would become of the capital after 5 years if we "eat" the interests? Do you think the capital will retain its value?

Your analogy, though great, raises a strong contest against compound interest.

The value of your capital may have reduced but the intrest you have been utilizing in the 5 years got you some value in return.

I think Tbills can be seen as an investment only if its returns are higher than the inflation rate. Another point to note is that inflation is hard to estimate as the increase in the cost of goods and services is not uniform.

Acidosis:


What would become of the capital after 5 years if we "eat" the interests? Do you think the capital will retain its value?

Your analogy, though great, raises a strong contest against compound interest.

It will never retain its value, 10m in 2015 is not same in 2019,some purchasing power is lost already.

CBN quashes talk of change to exchange rate policy
By Bloomberg News
13 June 2019 | 3:21 pm
Nigeria’s central bank said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates.

“Nothing has changed in Nigeria’s exchange-rate structure,” and the naira’s value continues to be determined by trading in the Investors’ & Exporters’ FX Window, Isaac Okorafor, a spokesman for the Abuja-based institution, said in a text message.

The I&E FX window, also know as the Nafex window, was introduced in 2017 as Nigeria sought to attract capital inflows by offering investors a weaker and market-determined naira rate. The central bank pegs an official rate — meant for government bodies and fuel importers — at a level about 20% stronger than the market price.


The central bank’s homepage on Tuesday stated that the official rate was “market-determined,” whereas it previously gave a value. The website reverted to its original form on Wednesday.

The naira was little changed at 360.46 per dollar on the I&E market as of 1:20 p.m. in London, and was 306.5 on the official market. Bonds rose slightly, with yields on one-year interbank T-bills falling five basis points to 13.93%.

Central bank Governor Godwin Emefiele, who was re-appointed for a second five-year term last month, says the current system, which includes restrictions on imports, is the best way to diversify Nigeria’s oil-dependent economy and boost manufacturing.

The International Monetary Fund has long been critical, saying the absence of a single exchange rate creates confusion and deters foreign investment. On Monday, the Washington-based lender said it was, for the first time in almost 40 years, reviewing how it deals with members that have multiple exchange rates.

“By limiting the circumstances in which Fund members may introduce and maintain multiple exchange rates, the multiple-currency practices policy aims to promote orderly exchange arrangements and a stable system of exchange rates,” it said in a statement.

Renaissance Capital said in an April note that Nigeria and Venezuela are about the only emerging markets in its coverage that have multiple exchange rates.

aremso:


sorry to coming, i just gave a friend 100k to start the red oil biz and the person told me they usually get it for 7k and sell it for 8k/25ltr at ikotunn market in Lagos

OK.. I have some1 that bought 25ltr today from Orange Market in Maraba, Nasarawa state which is one of the suburban market Abuja people patronise.

freeman67:



OK.. I have some1 that bought 25ltr today from Orange Market in Maraba, Nasarawa state which is one of the suburban market Abuja people patronise.

The last time i was in this market (Maraba)around April,oil was around N10500. I don't know how much it is now...whereas it was N7000 in the East within that same period.

What does red oil got to do with tbills?

OgogoroFreak:
What does red oil got to do with tbills?

Sorry for digression!

OgogoroFreak:
What does red oil got to do with tbills?

Sorry about that. I am an advocate of restricting this thread to its purpose too. It just a treasury bill related discussion that dovetailed into it.

Acidosis:


What would become of the capital after 5 years if we "eat" the interests? Do you think the capital will retain its value?

Your analogy, though great, raises a strong contest against compound interest.

Great observation
The idea is to grow your capital (if you can by adding to it any spare money that comes your way perhaps from salaries and gift. But never let it go down. At worst let it remain the same)

Nigeria is a developing nation, it is not a one way street. In as much as we are afraid of deprecation we should be hopeful of appreciation as well. Dont forget there was a time the Naira had power. Yes! it can happen again

I am into fbn insurance we get u cover only if u are in !

quote author=ahiboilandgas post=76954311] tell them this can happen....our truck with 44000 litres of deseal entroue taraba all lost another truck bought 4 months ago worth 12 m got an accident [/quote]

Nnamz:

Bros, where would uber fetch you 35K weekly?

He is right, the remittance is #30-#35k weekly. I have someone that is into it.
In Lagos though, I wouldn't know of other places.

deepwater:


yours above is correct, no doubts.
However, container dey fall for road, shop dey catch fire, lagos state government is notorious in relocating markets to another location after yuletide season, iyaoloja dey lock shop at will, customs don increase exchange rate the day before yesterday container dey high sea! importer don dey run around to look for more money to clear goods to avoid demurrage, landlord go increase shop let for trinity/berger cement/ijesha were u go offload.....


Gentle man walk into STANBIC buy NTB go house, 2 days later him get debit and credit at the same time. Him go sleep dey look una, dey wait for another 364 days.

If business sure pass, nobody go go school.

FYI, na we carry okrika from magazine enter badagry that year, government vex pack everybody go vespa. na so vespa market start.
Before u know, girls begin enter China go bring okrika everybody bone south korea. today everybody na importer for IG.
Business na for person wey don chop belleful, no be for struggling people. hence the high rate of start-up failure.
U never see gain, u reach house kerosene no dey to cook and u say u no wan touch capital, omo leave that thin.

Bottom line, we dont have enabling business environment yet. so avoid huge risk except u have access to huge bank funds.... last last na wetin close diamond bank be that.

if the business been pay well, people for return the money

Nice One bro,you have the practical experience of doing business in Nigeria

Primary bid by GTB lost for the fourth time in a row. I can't say for a fact but I know that not having heard back from them by now means they definitely lost the bid. Fourth time in a rowwwww (364 days)

What is the minimum amount that can be used to bid in the primary market?

yemkaf:

He is right, the remittance is #30-#35k weekly. I have someone that is into it.
In Lagos though, I wouldn't know of other places.

What will the driver take home if he drops 30k weekly? Does uber/taxi really make that much?

Here we go guys...

Debit alert stanbic ibtc

12.15%

364days. Primary market.

In all I do, I put my hope and trust in Jesus .

But I have a fail safe plan in TB..... should trials and temptation come, TB interest can sustain the fam.

Call it what u Like, business, investment,saving.....

zamirikpo:
Debit alert stanbic ibtc

12.15%

364days. Primary market.

In all I do, I put my hope and trust in Jesus .

But I have a fail safe plan in TB..... should trials and temptation come, TB interest can sustain the fam.

Call it what u Like, business, investment,saving.....

Flesh and Blood couldn't have revealed this to you!

deepwater:


Flesh and Blood couldn't have revealed this to you!

........word.

zamirikpo:
Debit alert stanbic ibtc

12.15%

364days. Primary market.

In all I do, I put my hope and trust in Jesus .

But I have a fail safe plan in TB..... should trials and temptation come, TB interest can sustain the fam.

Call it what u Like, business, investment,saving.....

Please sir can you shed more light on this. Having done my research, I am considering treasury bills as my second investment.
Thanks sir.

zamirikpo:
Debit alert stanbic ibtc

12.15%

364days. Primary market.

In all I do, I put my hope and trust in Jesus .

But I have a fail safe plan in TB..... should trials and temptation come, TB interest can sustain the fam.

Call it what u Like, business, investment,saving.....

Any update from first bank?

Jobac:


Please sir can you shed more light on this. Having done my research, I am considering treasury bills as my second investment.
Thanks sir.

Some say it's a business, some say it's an investment others say it's saving your money .

Am sure u don't mean I should define them.

zamirikpo:


Some say it's a business, some say it's an investment others say it's saving your money .

Am sure u don't mean I should define them.

Thanks sir. It is definitely not savings; my Bank gave me 6k interest on 2 million naira in a month, treasury bills would have given more than that. I am taking it as investment without stress.

Jobac:

Thanks sir. It is definitely not savings; my Bank gave me 6k interest on 2 million naira in a month, treasury bills would have given more than that. I am taking it as investment without stress.

Oga port to TB