ositadima1:


Does insurance cover the other 70 cars ?

The tanker driver ran away. The car lot owner has no insurance so he entered coma.

I suspect the tanker owner has no insurance and if he does, I doubt the insurance would cover for such damage else, why did the driver ran away and never returned?

OgogoroFreak:
The tanker driver ran away. The car lot owner has no insurance so he entered coma.

Bro, in this case it is advisable to insure. But you sef, I have said it many times here na, if you can't absorb the risk you better protect your self with insurance. While someone who can contain risk would be losing more in the long run if he/she insures.

I didn't come up with the idea myself, I am not smart, I read it in a finance journal and it made alot of sense.

One more thing is that insurance doesn't cover every scenario.

Jejebabaa:
Please see today’s Tbills rates below. Kindly choose your preferred tenor and also confirm if you want your interest re-invested or paid upfront.





Maturity

Tenor (Days)

Rate (%) p.a.

Yield (%) p.a.

12-Dec-19

37

9.00

9.08

30-Jan-20

86

9.50

9.72

14-May-20

191

10.50

11.11

13-Aug-20

282

11.20

12.26

29-Oct-20

359

11.50

12.97

Afrinvest

Is it being prorated as well?

Viqtour:
Good day house.

I was lucky to see 11.5% for 359 days today at First Bank. I did it and I was duly debited. However, I normally receive my upfront by 4pm but I've not been credited till now.

Fellow investors, has anyone experienced this recently with FBN?

Just curious, did they debit the entire money or part of it?

Please what's the minimum amount can someone use to start FG BOND

@bolded, I am actually looking at it from the perspective of the western and developed world where you can walk into a car shop and pick up a car since you can pay gradually. Since we do not have a credit rating scheme in our clime, This is the closest I could come up with as a way of spreading payment over a long time. I do not if you understand the context I am speaking from.

deleson:
Wait! Did you get a loan to force you into saving the initial 10M?

If not, then your proposition isn't positive. Quite worried about your assertion that taking and servicing a loan is a good way to maintain a saving culture.

But I guess you have a better understanding of yourself, health and saving culture.

Do note that there variable factors that evolve with times and seasons.

alezzy13:


Just curious, did they debit the entire money or part of it?

They debited the entire money but I still haven't received the upfront

Did you mean the more likely or is your less likely correct?

Our clime watch you for success and one of the first obvious sign is your car. It is so bad that if you attend some meetings, they will literarily see you off to where your car is packed to try and estimate your worth with the perceived value of your car. As funny as it may sound, that little detail can sometimes determine if your contract will be signed or not. Our clime non get part 2 o.

deleson:
The embolden is hilarious and a reflection of societal demands on persons perceived as successful with some material possession.

A lot is really wrong in this clime...The more money you have, the lesser you're most likely to be bothered for financial support and needless social expectations.

healthserve:



I guess that's why they say we must not erase ancient landmarks trying to play smart and genius and just leave things as they've been programmed before us


In all, you're right, to insure is the right way. Paying 4 Million as against a risk value of 800m is fine wine to me. Its not a waste of money. The risks associated with doing business is transfered to the risk bearer and the peace of mind that you have a cover in stormy times makes you carry out business without being subject to tension.

I'll insure in my dealings from onwards.

Insurance is the way to go anytime, it gives you peace of mind on your insured properties.

I thought I was saving money till I learnt the hard way last year, full story can be read here:

https://www.nairaland.com/4339448/true-story-insurance/1#77323589


All my cars now have comprehensive insurance with excess buy back, premium is less than 5 percent per annum which means it will take more than 20 years before the premium paid equals the car value.

Insurance is actually very cheap in Nigeria. Last year, I got over 700k claim from the mandatory 5k motor vehicle third party insurance.

Good evening all

Please I need suggestions, my dad once did life insurance with fbn.....now he needs the money for something urgent.......bank has being playing around for almost a month.
What's the best way to go about it

A quick one to the Profs, is purchasing land better than investing in treasury bills?

Sorry for the late response, I missed the mention.

Either TBills or MMF will be fine.

But I'll personally go for Tbills...Unfront interest and locked down capital.

With MMF, something can push you into collecting the money too easily

toby4ever:
Very low risk, duration of 1year at least.

Good catch ...Was typing faster than my brain.

It's really crazy, the material profiling and social scaling system in Nigeria is terrible.

That's one reason a lot of people are getting into illegal and shady acts, to catch up and impress others, because there is an existing army of praise-singers for anyone with money, regardless of how it is acquired.

Personal and family value systems must be restructured for homes and this country to advance from its current quagmire.

9jatriot:
Did you mean the more likely or is your less likely correct?

Our clime watch you for success and one of the first obvious sign is your car. It is so bad that if you attend some meetings, they will literarily see you off to where your car is packed to try and estimate your worth with the perceived value of your car. As funny as it may sound, that little detail can sometimes determine if your contract will be signed or not. Our clime non get part 2 o.

Read backwards on the thread, you'll find a rich repository on this discourse - Property vs Capital Market Investment.

You'll be happy you did.

ctleurocollege:
A quick one to the Profs, is purchasing land better than investing in treasury bills?

Yeah! I perfectly understand your perspective but this is Nigeria...............................

9jatriot:
@bolded, I am actually looking at it from the perspective of the western and developed world where you can walk into a car shop and pick up a car since you can pay gradually. Since we do not have a credit rating scheme in our clime, This is the closest I could come up with as a way of spreading payment over a long time. I do not if you understand the context I am speaking from.

Viqtour:
Good day house.

I was lucky to see 11.5% for 359 days today at First Bank. I did it and I was duly debited. However, I normally receive my upfront by 4pm but I've not been credited till now.

Fellow investors, has anyone experienced this recently with FBN?

Cool, this is the kind of news i want to read on here, not the unreasonable arguments that littered the previous pages. Have you finally received your interest? Anyone that has successfully invest in secondary market should please share their experiences. Good luck n God bless us all. Mr. Ahib, i salute you for your immense n valuable contributions to this thread, your posts are eye opener for the young and mighty investors. you are a rare gem, God bless u.

Akin3891:



Cool, this is the kind of news i want to read on here, not the unreasonable arguments that littered the previous pages. Have you finally received your interest? Anyone that has successfully invest in secondary market should please share their experiences. Good luck n God bless us all. Mr. Ahib, i salute you for your immense n valuable contributions to this thread, your posts are eye opener for the young and mighty investors. you are a rare gem, God bless u.

Don't mind them all because of flexing and Argumentation

Please, has anyone here ever invested in treasury bill or Agro Investment via Wealth.ng App. How is your experience concerning remittance of funds at the end of Tenor? I will appreciate your kind responses. Regards!

titilope07:
Please, has anyone here ever invested in treasury bill or Agro Investment via Wealth.ng App. How is your experience concerning remittance of funds at the end of Tenor? I will appreciate your kind responses. Regards!

All these apps... Why do you people add extra risk to something easy and straightforward? Walk into a bank and invest in treasury bills, it's that simple!

OgogoroFreak:
All these apps... Why do you people add extra risk to something easy and straightforward? Walk into a bank and invest in treasury bills, it's that simple!

You nail it i don't want to develop HBP because of investing that is why i glue to my FB even for them not to mail me my proof of investment fastfast i always have headache

My bussiness partner that normally build house for sale,just sold this house he bought the land for 14m and I think he spent 16m for building,total 30m he sold it for 47m ....this is the second he did this years the first house was sold for 40m....he has made around 25m this year from a capital of 30m that almost 80 percent .....this is the reason he can't do bond and t.b.....for 12 percent

healthserve:



You have a valid point thought its a two way street. The clean-styled/white/blue collar-styled economics that prefers everything spick and span, neat and tidy to avoid issues with regulatory bodies etc. Also, to avoid industry-based risks associated even with expansion. In the normal mode of doing business this way, insurance alleviates risks in a different way from expansion, if he expands his business operations, the expanded business still remains within the same industry which means the risk-cushioning mechanism is " risky & volatile ".

The second way street which is to hedge expansion against risks prefers expansion of the business as against paying insurance is smart street-styled economics. Its not a one street-styled business, and this method may appear husky for the white collar-styled business person.


The street-smart business man can instead of paying premiums to insure against losses can go on expanding and create a fleet, thereafter go for insuraning the fleet than against singlehandedly insuring each truck.

There are no fixed rules here and individually comes to econometrics here. For the low risk business man, insurance is a good ( not right as there's no rules per se ) path . To the medium to high risk-averse business person, continuous business operations, expanding business operations is smart business and a preferable path to navigate. To further alleviate risk exposure, expansion into other fields so a network-chain of businesses like Dangote can be formed, and for this kind of investor, this is a preferred option. So, perspectives and individuality comes to the fray here.


For me, as you can imagine, I agree with your line of thought as the street smart investor and prefer to expand than to insure.


BTW, if the expansion module is to be considered or postured rightly, its better to be in different industries/ a different industry-field and should be as big as three times the running expense/capacity of the primary business and must be able to emit three times the running business cost of the primary business, remain in business without risk of shock.


If risk absorption can be planned and put into action, my brother, I'll never insure cause the risk of loss or an accident regularly is highly low.


BTW, they don't teach these concepts in school. Lai lai. Its learnt on the street, its modern econometrics.

Individual with scamming mindset would never be endowed with better knowledge in economics and English.
He must be an avid reader and a philosopher with a bit of hyperactive disorder.
He needs respect and not harassments.

Viqtour:
Good day house.

I was lucky to see 11.5% for 359 days today at First Bank. I did it and I was duly debited. However, I normally receive my upfront by 4pm but I've not been credited till now.

Fellow investors, has anyone experienced this recently with FBN?

Same thing happen to me last week primary i was credited my upfront by 8pm that day by FBANK

ahiboilandgas:
My bussiness partner that normally build house for sale,just sold this house he bought the land for 14m and I think he spent 16m for building,total 30m he sold it for 47m ....this is the second he did this years the first house was sold for 40m....he has made around 25m this year from a capital of 30m that almost 80 percent .....this is the reason he can't do bond and t.b.....for 12 percent

16m cannot build this house.

OgogoroFreak:
16m cannot build this house.

Maybe he built during the old days

Just2endowed2:


Maybe he built during the old days

Read his post again

For the delay upfront, its due to verification process, takes days in some cases but where you are found wanting. Your capital will be returned. On insurance, it depends on the type of insurance you did. I got the worth of my car and its associated problems fixed; house built, hospital bills paid, building materials shredded inside the shop paid for, settled police. I only informed them of the accident scene and they manage to and was paid in less than 2 months. That was in 2014 and my only insured vehicle till date as i believe insuring is asking for accident. The said car was less than 1 month and less than 2 weeks of insuring, it was a great deal.

OgogoroFreak:
16m cannot build this house.

so tell us how much and the location ?

OgogoroFreak:
Read his post again

What are u guys saying,that 16million can't build such a house?...u guys aren't getting it. Is just a matter of taste and fashion. It's doable and achievable.
Note, some of these buildings u see here and there with over rated value are all caused by contractors,who usually deceive people with heavy laden cost analysis. We just finished one in Abuja this month in fact, the land was relatively cheap because is an estate Land and to completion the owner has spent just 14.8 million so far with land 6million. Total 20.8.

Let us not discourage people because u are doing Tbill doest not mean people in the built sectors aren't making it. Is a matter of Economic preference.

ibechris:



What are u guys saying,that 16million can't build such a house?...u guys aren't getting it. Is just a matter of taste and fashion. It's doable and achievable.
Note, some of these buildings u see here and there with over rated value are all caused by contractors,who usually deceive people with heavy laden cost analysis. We just finished one in Abuja this month in fact, the land was relatively cheap because is an estate Land and to completion the owner has spent just 14.8 million so far with land 6million. Total 20.8.

Let us not discourage people because u are doing Tbill doest not mean people in the built sectors aren't making it. Is a matter of Economic preference.

I wonder ooh ,am talking from experience not assumption ....i can randomly estimate any building ....

Block ,4000@140,decking 1 .5m cement 200 bags @2600,p.o.p 700k window 600k roofing 400k ,roofing sheet 300k ,plaster 200k ,wiring 300k ,tile 1m ,doors 1m,labour 35 per block x4000 ,dpc 400 k digging foundation 100k ,iron road 2 tonne 12mm 400k ,iron bender labour 100k ,bore hole 400k ,over tank 300 ,plumber 300k ,kicheten cabinet 300k ,toilets w/c plus fixing 4 unit 300k painting 300k ,Screeding 200k ,interlock 300k gate 200k bard wire 150k ,burglar 300k hand rails 200k ,lighting 300k ....wetin remain na.....

OgogoroFreak:
16m cannot build this house.

It depends, the property is not on full plot of land.