Just2endowed2:


Kindly send me a message or check my siggy to reach me on whatsapp/call

Sholapey:
I also need dollars, what's your rate please?

Akin3891:
As seen on social media


The Nigerian money market has gone bunkers!

It's just crazy!

I called my account officer in GTB to enquire about deposit rates and he confirmed that GTB is offering 1% interest rates on all fixed term deposits up to 50m naira!
Meanwhile, same term deposit in a bank in Canada or US can get one at least 2.5%.

Nigerian Treasury bill (NTB) rates went down as low as 2.5%!

I checked on Stanbic-Ibtc circular this morning and long term instrument - FGN Bond rates in the secondary market is down to almost 6%.

I checked on the FGN bond primary auction results as at 19th february 2020 and the bid for the highest tenure bond is almost 600% higher than the allotted securities, which shows a lot of parties are scrambling to buy these securities with no success.
Which means many financial institutions have billions of Naira sitting idle!

Meanwhile Nigerian inflation rate as at this morning is 12.13%...

So if you have Naira sitting idle in a bank account or even in a fixed deposit, you are losing value as fast as Ben Johnson!

This is the outcome of the FGN borrowing trillions from the pension fund instead of borrowing from the public.

If this trend continues, there will be a lot of Naira chasing the USD...which means the likelihood of a market devaluation of the Naira is inevitable.

Folks with cash deposit depending on interest payouts for livelihood - just a few months ago - will be forced to dip into the principal to pay bills...in addition to suffering the devaluing effect of a 12.13% inflation.

The thrust of the FGN's tough monetary policy is clear - folks should use the money to build businesses and create employment...but the environment is a tough one to risk one's money building a business!

Yeah...It's a tough economic world in Naija today.

iamloyalty:
I went to Fidelity, Standic banks and the offered 3% for 31days, 4% for 91, & 6.5 for 365 percent respectively. some of the banks are as low as 2.2.

Akin3891:



Your post didn't clarify how a court can get my money for me should such deviant tenant disappears. And Yes, talking out of experience, a bad one at that. Had to wake early to attend court hearings, paid exorbitant legal fee, and the idiot packed out his properties unknown to me ,cos i don't live in the house, one of the tenants living there called me to come as this guy was busy destroying anything good in the house (WC, meter board, kitchen cabinets, wardrobe ) . Was lucky to meet him at the exact time the truck he brought was about to leave, then the blood shed was so gruesome ,my compound was stained with blood. Since that bloody incident, i chose not to approach a court for such case, I've adopted my strategies, and it's working.

deleson:
If you’re interested in buying dollars, do contact me.

Physical transaction is possible in Lagos. Transfer to dom account is also possible.

Escrow/Arbitrator are welcomed.

Only serious and legit persons, please.

Donbrig:
@fineguy11, I shall be opening an account with LAPO in their head office in March/April. I intend to transfer about 50m into that account, pls apart from fixed deposit, what other investment options are open for customers? I am not in Nigeria at the moment, but I should be in Benin by next month.

ojesymsym:
50million into a microfinance bank? I'd have said that's to much to put there.

zamirikpo:
I don't know much about lapo and co. , but what ive tried to do, is to follow the pathways of a few renowned investors on this platform

those who have been here with me since 2010, and are still kicking.


6.5% is better than zero naira.

Donbrig:
@fineguy11, I shall be opening an account with LAPO in their head office in March/April. I intend to transfer about 50m into that account, pls apart from fixed deposit, what other investment options are open for customers? I am not in Nigeria at the moment, but I should be in Benin by next month.

kristien4:
Why did you say so? And what amount would you suggest is okay?. Please respond.

fineguy11:
There is the 6billion naira 2nd series bond we plan to issue via our subsidiary in the capital market but I have little info about that for now.

Donbrig:
Thank you sir, I have some details about them already. I hope I can negotiate rates with them if I choose Term depost savings?

kristien4:
Why did you say so? And what amount would you suggest is okay?. Please respond.

zamirikpo:
I don't know much about lapo and co. , but what ive tried to do, is to follow the pathways of a few renowned investors on this platform

those who have been here with me since 2010, and are still kicking.


6.5% is better than zero naira.

ahiboilandgas:
i was permanently doing fixed deposits at 6 percent with banks in 2008 , in 2015 i did 5 on treasury bills we are used to poor rates and good rate cycle ...if i put 50m in micro finance bank i go get heart attack....my friend own a micro finance bank around surulere i know how poorly manage and weak finance the bank is ...

Donbrig:
@fineguy11, I shall be opening an account with LAPO in their head office in March/April. I intend to transfer about 50m into that account, pls apart from fixed deposit, what other investment options are open for customers? I am not in Nigeria at the moment, but I should be in Benin by next month.

kristien4:
Why did you say so? And what amount would you suggest is okay?. Please respond.

fineguy11:
There is the 6billion naira 2nd series bond we plan to issue via our subsidiary in the capital market but I have little info about that for now.

emmanuelewumi:



I hope the N50 million is just 20% of your capital?

fineguy11:
Our capital currently sits @ 19billion +.shareholders fund is 3.5billion.

fineguy11:
Our capital currently sits @ 19billion +.shareholders fund is 3.5billion.