Olaide1295:

I listened to GTB earnings call days ago, they have $1.3Billion in dollars(not customer deposits). They are also hedging against devaluation.

emmanuelewumi:
My advise for people who have enough reserves or currently liquid is to buy enough food and consumables that can last them till end of July or August depending on the fund available to them

Make provision for less privilege families and friends. Before thinking of other money making opportunities.

It will get to a stage where we will have money but no food to buy.

May God help us in Nigeria, this pandemic has disrupted a lot of things and the recession is real

ahiboilandgas:
400m a staff in dangote

emmanuelewumi:



That is why I always preach liquidity, cash flow and diversification of investments

naijaoyibo:
I agree with you on this. However, what if it's the Euro that is underpriced because people do not use Euro as much as the dollar in Nigeria. The Nigerian currency reserves stands at $33 Billion dollars as at today with 30% of that being owned by foreign investors. Back in 2016 when the price of oil crashed, The Naira jumped from 199 to 520 and finally settled at 360. This time around, our reserves are probably lower than that of 2016, and before now the Naira was trading at 360. If we use lessons from the past, the real value of the USD to Naira might be about 600 Naira per dollar. However like a wiseman said above, Nigerian is a country where politics is more important than the economy. The CBN could intervene and crash the rates down to 400, but the question is for how long? Their funds are limited. Russia also has an oil dependent economy much larger than Nigeria's. Russia also possesses more than $500Billion in their reserves. However their currency has lost about 20% value; from 63 ruble to a dollar in February to about 75 ruble to a dollar today. During the steep crash in march, the currency briefly touched 80 ruble to a dollar but has settled down at 74 due to intervention of their Central Bank. Even I still have some Naira Investment but yet to make up my mind on how to react.

michealekene:


Hello sir..

I have some fidelity shares, how do I know the actual number of shares and amount involved...and what's the economic outlook of fidelity

It was bought on my behalf a long time ago. I stopped receiving dividends 2018. Please help

ahiboilandgas:
please link? Where is the money kept in euro bond or bank vaults in cash...

Grupo:


Ha. Nawao. And I just sent a few dollars to my dorm account this morning.

Where's now the safest place for someone to keep their money?

wura2u:
Nobody seem to talk about Gold as store of value. I have been thinking about purchase of gold to hedge against inflation or currency devaluation. Anybody thinking along this line? Who is into this line of business? How do you keep the gold against robbery?

TotoNaRubber:
The reason why buying dollar at this time is a rip off


The current buy rate for dollar stands at N460/$ while the buy rate for euro is N450/€ (This is economically impossible, euro is stronger than dollar anywhere in the world and has always been, and will always be EXCEPT in the manipulated Nigerian black market),

Grupo:


Hmm. Are you sure this is the best time to invest in TB?

I invested in February for 182. And by the time the investment matures in August, the capital would have lost enough value.

How much did I gain from such a pointless endeavor? A paltry 57k on an investment of "three point something million."

Theconglomerate:
Keep it at home na.
Abi na one truck of gold you wan buy?

wura2u:
Nobody seem to talk about Gold as store of value. I have been thinking about purchase of gold to hedge against inflation or currency devaluation. Anybody thinking along this line? Who is into this line of business? How do you keep the gold against robbery?

Olaide1295:

Here’s the link.

https://www.gtbank.com/investor-relations/investor-news/2019-full-year-investor-conference-call

They also hedged their loans to Oil companies at $50/barrel. So they are not exposed to the oil price crash.

chigo4u:

Nigerian policies always favor the rich. It will never come to a point where dorm account holdings are converted by fiat to naira. Worst case scenario is scarcity of dollars where it’s hard to withdraw dollars like it happened in 2016

emmanuelewumi:



Go with your proof of ownership to First Registrar they have offices in Lagos, Ibadan, Abuja and Port Harcourt. They will tell you your holdings and the process involved in subscribing for edividend so that you can get you outstanding dividends to be paid into your bank account

michealekene:


What does this proof of investment entail?

ahiboilandgas:
please i went through the 81 page doc on my phone cant find the 1.3bn reserve..pls help me screen shot the part if u can ....i need to know where to hid my small $$$

ahiboilandgas:
Nigeria is also on the same part with Lebanon..with huge foreign loans to be paid back from dollars earning so where wilm the dollars for import of medicine and machinery come from ... ( def from our 20 billion dollars dorm holdings )....they can convert all the dorm holding by fait.... ( worst case ) or limit your access to your money ...this what is happing in Lebanon

Olaide1295:


It is an investor call where key shareholders ask the CEO questions. The audio is on their website.
The question came in around 36:30 and Segun Agbaje mentioned their Dollar holdings is at about 1.3 -1.4 Billion$

Olaide1295:


It is an investor call where key shareholders ask the CEO questions. The audio is on their website.
The question came in around 36:30 and Segun Agbaje mentioned their Dollar holdings is at about 1.3 -1.4 Billion$

ahiboilandgas:
that building investor confidence i guess , i hope it not audio it supposed to be in the books ( so that they can be held responsible) if books are Cooked ...i saw cash reserve of 285bn naira in their books , why i wanted to see where an i idle 1 bn dollars will be kept by a Nigeria entity

Olaide1295:

Hmm, okay.
Anyways, what do you think will happen to the Naira if CBN floats it?

ahiboilandgas:
hyper inflation...they should hold on untill we stop importation of petrol next year and become net exporters cuting 40 forex demand ,and earn 50 billion dollars for export of petrochemical....then we float....

ahiboilandgas:
cbn and Nigeria state has effectively wipe out all profit from your tb investments since 2017, imagine a man that kept 100k (15m ) in 2013 now has over 45m naira ...this shit.....the depreciation rate is 3 much not even after 20 years....if now that we are farming rice the currency is it lossing value .even the Dangote refinary eill not change things......naira is a dead currency

olujaidi:


Why do you say the refinery won't change things knowing fully well that a good chunk of our FX earnings are used to finance import of petrol?

olujaidi:


Why do you say the refinery won't change things knowing fully well that a good chunk of our FX earnings are used to finance import of petrol?