ahiboilandgas:
I have tried several to understudy very rich and succefuly enterprenures to act as a guide and fellow the route but I end up disappointed it either they where in goverment in the 1980 or friends to military dictators or smugglers ( max air owner) or loan deflauter like capital oil and rahammaniya or subsidy scammers or yahoo people or treasury looter

I said it earlier that hardly would you find a legit Nigerian billionaire. Either they are involved in shady practices or they made their billions off the government. I don’t think Nigeria economy is that robust to produce legit billionaires from scratch. If you are looking for a business mentor, you have to look outside the country.
If Nigeria govt withdraws it’s massive support for Dangote today, he will fall back to millionaire

@freeman67, ii understand ur point but u left the substance and u are focusing on a little phrase.

Whether the rich spend there money extravagantly or not the point @ahiboilandgas was stressing is that they are mostly I'll gotten wealth.

Ur arguement sef should centre on whether dangote is legit or not. The federal govt made him rich by enacting policies that favoured him. How will u be the sole supplier of some commodities in Nigeria and not become rich. U remember what they did to ibeto.

For me, I am definitely going to be rich legitimately. I started early and am going global. by his grace, I will succeed.

My mentor is money.

Today is primary market day, I’m waiting to see how bids for today goes.
With what is happening, I don’t know if it’s possible for Nigeria govt to stop tbills, because I’m thinking that would really be the next option for cbn.

chigo4u:
Today is primary market day, I’m waiting to see how bids for today goes.
With what is happening, I don’t know if it’s possible for Nigeria govt to stop tbills, because I’m thinking that would really be the next option for cbn.

TB cannot stop, our govt runs on deficit....and p
Even the budget is drawn with projections on borrowing locally and internationally.



No fear .

My own is those people calling fraudsters smart people UNA WELL DONE OOH. See whether ur mumu sense has landed us.

CBN Sells Fresh N133bn T-Bills Today, May Cut Rates
https://businesspost.ng/economy/cbn-sells-fresh-n133bn-t-bills-today-may-cut-rates/

Example in the bdc bussiness in Lagos island severally bdc owner trade dollars for 3 naira margin to make 200k per week or 80k per week on the low ..but I observed 1 company own a an alhaji have several lincense like 5 (against the rule )and make x 5 of ever body but even at that he buys over 3 million dollars weekly from virtually all the bdc and very rich ,he attempt to purchase the building housing ever body for 700m ....he very wealthy

Adiwana:


Well,if Bill Gates goes for a holiday on a yacht at a place like Ibiza or St Tropez for 2 Weeks,nobody will tag it unnecessary or show off. But that's some tens of millions of naira or probably dollars in spending.This is in no way adding any value to him.That money spent only in two weeks could probably build a factory or taken a lot of people off the streets through other means of employment.Difference between him and Mompha in this case is that he didn't post pictures of him inside the yacht.Dangote would probably be owning some Presidential rolex or Hublot.Jay-Z owns one of those.Difference between the two is that Jay-Z brags about it in his songs and Dangote doesn't.Both are Billionaires

In essence,rich people spend money just like everyone else.And just like everyone else,they spend money on stupid stuffs.They are not morally better

Because I am an advocate of not derailing this thread, this will be my final post on this topic. Yes
real businessmen could think sometimes that somethings are worth it but after spending they will discover it is not worth it. Their aim of spending that money is not to impress people.

About holidays, I believe you will know that most ideas and inspirations comes in quiet times so where you choose to relax when you want is important and it's not a problem if you can afford. And yes, you could take family pictures there and it will somehow go viral or pressmen/women may bump into you there. It is different from you snapping in the vacation because you want to show off on Instagram to impress/oppress the entire hustling population or you inviting the media to come and cover the vacation for paparazzi..

You would have also heard the common cliché that says all work and no play makes jack a dull boy. The body needs relaxation after some stressful period. Where you choose to do that too is dependent on the quality you want and how bouyant you are.

zamirikpo:
@freeman67, ii understand ur point but u left the substance and u are focusing on a little phrase.

Whether the rich spend there money extravagantly or not the point @ahiboilandgas was stressing is that they are mostly I'll gotten wealth.

My mentor is money.

I did not missed the point. Yes he stated that he wondered if Dangote will spend extravagantly like that I think is bevy he still has some respect for him and could learn from him. Of all the irregular and illegal means his listed there was no where he listed government support or favours, that does not constitute any offence. At least we all know he is into manufacturing; everybody in Nigeria will acknowledge that he is the manufacturer of Dangote salt, sugar, spaghetti, flour, tomatoes, cement etc. Except we later hear any contrary news like we are hearing among the other people he listed, he is assumed to be legit.

I thank God for his blessings on you. That is what I wish and pray for. Legitimate rich and aspiring Nigerians that could be mentors to those coming behind.

So I after like 1 year in the markets I understand that alhaji act on behalf of Chinese and India's and politicians..if a Chinese textile dealer (contraband )smuggled into Nigeria via Benin republic finish selling his goods in Lagos island the naira equivalent like 362 m naira in his first bank accounts, but he need to move this money back to China to supply again but can't demand dollars from cbn cos he import banned item

He meets alhaji and request for 1 million dollars in black market then alhaji give him his bdc account he transfer 362m ,after cbn dollar bids and allocation...alhaji fix announce to boys and quotes 358 everbody carry his dollars to alhaji,he pay up 358m from the Chinese man money and pocket 4 m that week

Not done the Chinese contraband seller need the 1m dollars moved to Dubai.....the people like mompha come in ...they smuggle physical cash out via airport in conjunction with corrupt officers or the Nigeria bdc will call the Dubai Nigeria bdc to arrange 1m dollars for him there ...the Dubai bdc will gather money of several Nigerians wanting to transfer back home through non financial institutions (1m dollars)The Chinese man will go to Dubai for pick up ..will the Nigerians will come home to local bdc for cash

This not enterprenurship,this money laundering this not hard work but criminal enterprises that sabotage govt policy,destroy our industrialization plan ,bring unemployment cos poverty and insecurity

Most very wealthy bdc operators all of them are now friends with yahoo boys involved in the e mail comprise scam in conjustion with Lebanese providing off shore accounts to repatriate scam funds into nigeria.....i keep wondering what our effc was doing since cos this thing are so glaring and in public .....go to Lagos island how do they think the Chinese repatriate all those contraband sale from second hand cloths to froozen chickens to tramol to textile ...

The Nigerian state can win this war buy targeting the sale accounts of this contraband dealer using cbn...sealing up broader is not a modern strategy.....gather intelligence in the market ,put spy wait for them for finish sales then freeze the accounts and convert proceed to govt treasury to build road....

dipoolowoo:
CBN Sells Fresh N133bn T-Bills Today, May Cut Rates
https://businesspost.ng/economy/cbn-sells-fresh-n133bn-t-bills-today-may-cut-rates/

So people from OMO will now do tbills further driving rates down?
Interesting times

freeman67:


Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

Radarada, so people gat know say i wan invest in tbs, investment that ought to be private, now you will have to bring someone along each time you want to invest your hard earned money, like a kid that doesn't know his right from left ,this is so annoying. If my wife can't follow me down to the bank, so no tbs investments for me .i know banks are trying so hard to deter customers from investing in tbs,so they can lure you to do their own meagre fixed deposit. The new cbn policies on OMO is giving them new wings, forgetting that tbs investors are damn educated n can read in between the lines. Also, there is no how secondary markets will be scrap, how abt those that want to auction their tbs before maturity, who is going to buy from them? I know all these shakara from banks will pass soon, when they realize that investors stand their ground n even lecture them the difference between OMO n FG tbs.

ahiboilandgas:
This not enterprenurship,this money laundering this not hard work but criminal enterprises that sabotage govt policy,destroy our industrialization plan ,bring unemployment cos poverty and insecurity

No they are SMART PEOPLE......

Because I am an advocate of not derailing this thread, this will be my final post on this topic. Yes
real businessmen could think sometimes that somethings are worth it but after spending they will discover it is not worth it. Their aim of spending that money is not to impress people.

About holidays, I believe you will know that most ideas and inspirations comes in quiet times so where you choose to relax when you want is important and it's not a problem if you can afford. And yes, you could take family pictures there and it will somehow go viral or pressmen/women may bump into you there. It is different from you snapping in the vacation because you want to show off on Instagram to impress/oppress the entire hustling population or you inviting the media to come and cover the vacation for paparazzi..

So great ideas are gotten on a yacht that cost millions to rent.lol. If Bill Gates holidays on a yatch, he's getting more ideas on how to make more money and is not impressing people.If Mompha holidays on the same yatch and posts pictures online,he's foolish and spending on frivolities and is spending to impress people.Do you see the similarities?? Only difference between the two is that one has followers on Instagram and posts pictures on Social Media,the other doesn't. Its hypocrisy condemning one and leaving the other

You would have also heard the common cliché that says all work and no play makes jack a dull boy. The body needs relaxation after some stressful period. Where you choose to do that too is dependent on the quality you want and how bouyant you are.

Am in no way condemning anybody on how they spend their money. My point is rich people spend just like everybody else.The whole notion that rich people spend carefully and spend money only on things that give them value is a false narrative.Rich people are the ones that buy Lambos,Ferrari,Rolex,Gucci etc. These are some materials that lose value instantly they are bought

this country is really getting things wrong. Why would citizens be at the receiving end of every policy in this country? The Govt. claim to encourage cashless economy and the same time Banks are charging customers virtually for every transaction. Internet transfer they charge 52 naira, POS 50, alert on same POS transaction 4, ATM alert 4. ATM Card mentainance fee every month. Even alerts when is not needed like holidays and birthday. How do u encourage cashless when u charge me for using a common POS? is better I transact with cash. All this Banks are forgetting the fact that all this medium is reducing their work force, reducing queue and stress for them and customers. why leaving money in my savings account? when the charges is higher than the interest. u give me 3.5% interest and take over 20% charges at the end of the month. CBN is really getting it wrong here. something has to be done in this regards. They also forgot that all this medium they trying to discourage has actually reduced a lot of crime in the society, e.g. Armrobbery etc. I think CBN should go back to the drawing board on the recent policies.

Barrytone:


Sorry about the mishap, are you on any loan?

Thank you!
I didn't subscribe to any loan nor do I have any negative balance on any of my accounts linked by my BVN.

I'm at the bank presently and they are asking the same question.

Pascal2016:

I receive a refund too with the message cancelled as requested. I obviously didn't request for any cancellation neither did I borrow money from from any bank or person. seriously I don't seem to understand.
the worst is that I went to Fidelity Bank and I was told that the minimum for TB is 1million naira and I was like hmmm.
pls any experience from other banks?
is 1million actually the minimum in other banks?
any response will be appreciated

Terrible!

1m isn't the minimum at First Bank. I know.

I wouldn't know if banks have the authority to put a cap on the amount for TBills.

Otunbalai:


since when have your tbills been running ? for how long has the tbills stays before your were refunded ?

I filled the form on Monday and was debited the same day.
I got the refund on Tuesday.

ahiboilandgas:
It seems most wealthy Nigerians earn their wealth from shady foundation,I use to dream of becoming rich and look up to some mentors but lately am very disappointed,I used I wonder what sort of bussiness the like of e money,mompha ,iventus obi do to earn such huge money that they can afford cars wort 400k dollars ...

That is why u have to know yourself...don't ever pray to be like them. All my role model are men and women who have accomplished goods things in Nigeria and America. Like late Henry ford,Robert Kiyosaki,Trump senior,Fela Anikulakpo Kuti,Jakande in Lagos and innoson motors. Two men above contributed so much to this generation and their generation back then. Many Nigerian role models are either criminals in the office,woman beater,juju politicians without nothing to learn from and regrettably, they live fake life.

Donvitalis:

Terrible!

1m isn't the minimum at First Bank. I know.

I wouldn't know if banks have the authority to put a cap on the amount for TBills.

Don’t know about about first bank but zenith bank minimum has always been 1m

Mills55:
this country is really getting things wrong. Why would citizens be at the receiving end of every policy in this country? The Govt. claim to encourage cashless economy and the same time Banks are charging customers virtually for every transaction. Internet transfer they charge 52 naira, POS 50, alert on same POS transaction 4, ATM alert 4. ATM Card mentainance fee every month. Even alerts when is not needed like holidays and birthday. How do u encourage cashless when u charge me for using a common POS? is better I transact with cash. All this Banks are forgetting the fact that all this medium is reducing their work force, reducing queue and stress for them and customers. why leaving money in my savings account? when the charges is higher than the interest. u give me 3.5% interest and take over 20% charges at the end of the month. CBN is really getting it wrong here. something has to be done in this regards. They also forgot that all this medium they trying to discourage has actually reduced a lot of crime in the society, e.g. Armrobbery etc. I think CBN should go back to the drawing board on the recent policies.

The charge stems from the Stamp Duty Act 2004. This predates the cashless policy.

Please has anybody being able to do NTB SECONDARY MARKET in any bank after CBN circular to banks?

Thanks

ahiboilandgas:
See arik air and rockson engineer and fail power contractor ....cant we have normal rich people like Jeff boz , Alibaba,buffet etc that generate wealth via inventions , manufacturing or talent ?....cant we as a people

Behind every great fortune, there is an equally great crime. The crime spectrum could stretch from violating antitrust laws to murder. If you dig meticulously into the past of the "normal rich billionaires" we have today, you will realise that they are not as clean as they claim to be.

Akin3891:


Radarada, so people gat know say i wan invest in tbs, investment that ought to be private, now you will have to bring someone along each time you want to invest your hard earned money, like a kid that doesn't know his right from left ,this is so annoying. If my wife can't follow me down to the bank, so no tbs investments for me .i know banks are trying so hard to deter customers from investing in tbs,so they can lure you to do their own meagre fixed deposit. The new cbn policies on OMO is giving them new wings, forgetting that tbs investors are damn educated n can read in between the lines. Also, there is no how secondary markets will be scrap, how abt those that want to auction their tbs before maturity, who is going to buy from them? I know all these shakara from banks will pass soon, when they realize that investors stand their ground n even lecture them the difference between OMO n FG tbs.

One option which I employ is to collect a copy of the treasury form and make several copies myself and then give my wife to sign as witness, but leave the date empty. Then whenever I want to invest, take one of the forms along, fill in the necessary details at the bank and submit. Shikenna!!!

sammily:


One option which I employ is to collect a copy of the treasury form and make several copies myself and then give my wife to sign as witness, but leave the date empty. Then whenever I want to invest, take one of the forms along, fill in the necessary details at the bank and submit. Shikenna!!!

That sounds cool provided there is no need to see the witness in person. Funny policy, they r trying hard to make tbs appear scary, like witness, come n see o, our hand no dey o, should FG default . Cos i wonder wetin concern witness with my private investments

Rates are seriously coming down,from the calculation am seeing, 364 is around 11%
Stanbic

whatalife:
Rates are seriously coming down,from the calculation am seeing, 364 is around 11%
Stanbic

If I get 11% for 364 I will be very happy I am expecting less