olujaidi:


Yeah well your currency has lost 20% of its value too

Ok, just imagine if he didn't invest at all?

ukay2:


Weldone Madam.

Keep doing well.

Thank you sir!

OgogoroFreak:
Ok, just imagine if he didn't invest at all?

The fact is, the currency has depreciated. I'm not talking about whether or not he's personally better off.

It’s refreshing to read your analysis. It reflects some thoughtfulness.

You posed more questions than answers, howbeit, with clear justifications.

In all, every individual must take responsibility for his/her life.

Best wishes to all Nairalanders, Nigerians and Africans.

LordAdam16:


I'd leave that for the floor to answer.

Although I have my theories, I'd like to think there's just not one [good] answer to that question.



I believe this is a viable option. Perhaps the far more doable option. Essentially, the individuals would act like seeds and pillars in their respective microcosms. It'd not be without its caveats tho'. Including elitism, continuity, ego, and I'm just scratching the surface.

An alternative approach, would be a top-down sea change. It's how most enviable ethnicities built their cultures. But we'd be trying to cram millennia worth of change in only a few decades.

It'd also require the participation or at least support of all of the numerous branches of elites in most of the influential sub-nationalities. The problem is I don't know if we have it in us to be able to mobilize such an effort. There is simply no evidence, at this time, that we indeed possess the ability to conjure the level of strategic, long-term thinking, coordination, and troubleshooting necessary for that to happen.

And I don't mean the obvious ethnoreligious bad blood and distrust. That's surmountable. We've had about 10m deaths from such tussles since inception. That doesn't count as a crisis by Chinese, Indian, or Japanese standards (no one had smooth sailing). I mean how do we convince the absurdly myopic elites of all stripes we're saddled with--whether political, of the traditional institutions, intellectual (from academia), and what not--to commit to a cultural revamp with 20, 50, 100-yr objectives and timelines.

Again, this is why I said, I'd leave coming up with a way to engender a cultural shift to the floor to answer. Surely, someone has given this more thought than I am and have a fool-proof plan.

That said, the obstacles probably make it more realistic to imbibe what you can in your children; make it sort of a family tradition; and leave them as much lifeboats or rafts (most colloquially call this "connection" or "who you know" ) as you can. Some families in Nigeria have been able to accomplish this.

If it will be sustainable, generational, or *gasp* society-wide is up in the air until there's some cultural support system. Essentially, it's do your part and hope for the best. Sounds defeatist, but no one ever said realism has to be pretty.

-Lord

ukay2:



I read the Richest Man in Babylon in JSS 3.....that was when I learnt the habit of savings and that changed my life for good. I save any small gift i was given, later tell my parents to help me invest them so that the money will grow. It was small, but the habit became of me.

Great! But I was not privileged, my grandmother of blessed memory taught me on how to make money and save for the raining days at a very young age because she was an independent woman that deals with big cocoa and cola nut farm and i use to go to the village with her during school holidays. She taught me the theory and practical of how to fend for my needs through labour. She would say "Atelewo eni kin tan ni ję" Circle matters in life. Today, I am an employer and also an employee for a side hustling...i can do all things through Jesus that strengthen me.

Sholapey:
Great! But I was not privileged, my grandmother of blessed memories thought me on how to make money and save for the raining days at a very young age because she was an independent woman that deals with big cocoa and cola nut farm and i use to go to the village with her during school holidays. She thought me the theory and practical of how to fend for my needs through labour. She would say "Atelewo eni kin tan ni ję" Circle matters in life. Today, I am an employer and also an employee for a side hustling...i can do all things through Jesus that strengthen me.

Quite Interesting.

We keep moving with Divine Favours

ahiboilandgas:
My friend was dating her like that she was staying in the house for 18months untill his wife found out ...inbetween the woman has built 2 houses and sold making notting less than 8m each .plus her capital...not that the woman is poor or a parasite.....but i dont understand woman rich or poor too crafty

Men are also crafty. Ur friend was a married man and they dated for 18 months before his wife found out if she hadn't found out he would have gotten a 2nd wife secretly.

Sholapey:
I think is the lawless nigeria mentality that makes some of them to be criminal minded. Where I am even if you're a crock in Nigeria, the environment here will teach you to be honest and if you think you're smart, you'll always find yourself in jail.

That is wat a sane environment should encourage here in Nigeria u can't trust anybody when it comes to business not even some family members or finicial institutions.

9jatriot:
The only disadvantage I can think of is timing. If you go and buy when it has already peaked then you could have your hands burnt. Same thing happened to some people in 2016

Thanks, I will check out the current exchange rate.

iamloyalty:


Thanks, I will check out the current exchange rate.

445.
Speculators,exporters and yahoo boys are winning...
It is safe to assume emefiele might be running out of magic now.
Don't take my word for anything,I might be drunk on tomato paste

did anyone notice a 15k debit by banks in their account or is it only me?

The only thing I noticed is this ridiculous Çovid 19 relief credit .

cmoney22222:
did anyone notice a 15k debit by banks in their account or is it only me?

oluwaleokey:


Thanks bro
You are really a financial analyst...
I shared your response with wifey, "she said nawa o...person go dey multiply, compound, increase, expand, invest more... wen we wan enjoy ni"

I get your point sir

Enjoy as your profit abound, if you eat shawa fish in year 2019 as being frugal and to save more , start eating chicken in year 2020,if you save harder in year 2020, then step up your enjoyment in 2021. I don't belong to that school of thought of saving hard and living poor.

Guy I tire men. No be small thing dollars go sky rocket . Standardof living go raise

Theconglomerate:
445.
Speculators,exporters and yahoo boys are winning...
It is safe to assume emefiele might be running out of magic now.
Don't take my word for anything,I might be drunk on tomato paste

Godbpraised:
Guy I tire men. No be small thing dollars go sky rocket . Standardof living go raise

I swear.
Make we just dey observe sha...

Cost of living, you mean?

Godbpraised:
Guy I tire men. No be small thing dollars go sky rocket . Standardof living go raise

If you have an account where money comes in regularly in form dividends, interests from money market funds, Treasury Bills etc. Your loved ones will be denied immediate access to the fund. Until they get Letter of Administration from the court which takes a long time and also cumbersome
@ Oga Emma
I think a smart way is to make one's wife for instance, a signatory to the accounts if you trust her....I guess this will take care of the need for letter of administration

How can I invest in treasury bills?
I heard the process is not like before?

shogbenga:

If you have an account where money comes in regularly in form dividends, interests from money market funds, Treasury Bills etc. Your loved ones will be denied immediate access to the fund. Until they get Letter of Administration from the court which takes a long time and also cumbersome
@ Oga Emma
I think a smart way is to make one's wife for instance, a signatory to the accounts if you trust her....I guess this will take care of the need for letter of administration

Yeah [UYquote author=tomtom370 post=89328957]Cost of living, you mean?


[/quote]

Please, how do you get all this info.
Your financial knowledge base is extremely deep.

I will appreciate having your reading list.

Thanks

emmanuelewumi:



What was done Standard Trust Bank for UBA was equity and everybody made money .


With Crystal Bank, which later became Standard Trust Bank. Tony advised some of the banks big customers like Rasheed Ladoja, owner of Clemco rice to convert some of their bank deposits to shares, he also to some of them to loan him part of their bank deposits. He turned around the bank, made money paid back the bank customers who loaned him money and everybody was happy

shogbenga:

If you have an account where money comes in regularly in form dividends, interests from money market funds, Treasury Bills etc. Your loved ones will be denied immediate access to the fund. Until they get Letter of Administration from the court which takes a long time and also cumbersome
@ Oga Emma
I think a smart way is to make one's wife for instance, a signatory to the accounts if you trust her....I guess this will take care of the need for letter of administration

Why do guys get married to people they don't trust?

I have my wifes bank app on my phone, she has mine on hers, I can move money between both accounts as I please, she can also do the same. She has access to my ATMs, has my pins and I also have access to hers.

Our "joint" account is in mutual funds. We both have the login details and can fund/withdraw independently.

God forbid if any of us dies tomorrow, the other has total control over any money left behind.

rationalmind:


Why do guys get married to people they don't trust?

I have my wifes bank app on my phone, she has mine on hers, I can move money between both accounts as I please, she can also do the same. She has access to my ATMs, has my pins and I also have access to hers.

Our "joint" account is in mutual funds. We both have the login details and can fund/withdraw independently.

God forbid if any of us dies tomorrow, the other has total control over any money left behind.

Likeminds, marriage is about trust and love. If we can share the same bed, food, house, we might as well trust ourselves with money.

rationalmind:


Why do guys get married to people they don't trust?

I have my wifes bank app on my phone, she has mine on hers, I can move money between both accounts as I please, she can also do the same. She has access to my ATMs, has my pins and I also have access to hers.

Our "joint" account is in mutual funds. We both have the login details and can fund/withdraw independently.

God forbid if any of us dies tomorrow, the other has total control over any money left behind.

People that can't trust their wives usually feels so because they make zero income and probably came from a place that could use a lot of help,in other words make them no use their money take solve family problems of their in laws..
That is why it is always good to be on a certain social strata before getting married,not just to raise a comfortable family but also increases one's reach in the kind of families he will pick a wife from.
No be that kind family weh you go Marry wife and you hear say them don roof house weh their late father abandon 25 years ago just after you marry her,instead of you to be happy for them,you go start to wonder why it happened immediately after you marry their daughter.
"Could it be coincidence?"you will ask yourself
Or did I just marry a BIG FAT FÙCKING RAT that I will be stocked with for the rest of my life
Immediately your hair will start falling off in your early thirties due to over thinking and the inevitable financial mishap that awaits you.
One will stop eating,start daydreaming,losing focus and start exhibiting symptoms of poverty even before it starts and then the shocking news will come
Guess what it is;
The mother in law that had 2 lazy grown up sons and semi frustrated daughters that could barely fix their leaking roof for 7 years just took delivery of a new SUV and now wear only gold necklace and now tie hollandis wrapper to sit at home.
And then yours truly,the angel God personally sent to rescue a generation out of poverty will pay a visit one day to them,stays dumbfounded,goes back home with his wife and die of heart attack leaving behind all what he has toiled for,for a people he don't know..
I will be the last person to date or marry a poor woman
This story is very generic and refers to no one in particular,take it to heart at your own risk cos I won't bother responding to criticism.
It is not an advise!

rationalmind:


Why do guys get married to people they don't trust?

I have my wifes bank app on my phone, she has mine on hers, I can move money between both accounts as I please, she can also do the same. She has access to my ATMs, has my pins and I also have access to hers.

Our "joint" account is in mutual funds. We both have the login details and can fund/withdraw independently.

God forbid if any of us dies tomorrow, the other has total control over any money left behind.

oludy:


Likeminds, marriage is about trust and love. If we can share the same bed, food, house, we might as well trust ourselves with money.

Chiefs, e get y o!

Monkey smart, monkey smart, na because tree near tree.

Na only some people know wetin dem marry... This is applicable to both genders.

So if marital parole gel for you, jor appreciate your good fortune and count your blessings.

Because who wahala naked follow, eh, no dey use English pray.

PS: Pardon my use of our lingua franca.

-Lord

Penboy:
How can I invest in treasury bills?
I heard the process is not like before?

Rate is terribly bad. You might get max of 4% (that's if it's possible). Better to keep your money in a savings account that could yield almost 4-5% interest

Theconglomerate:
People that can't trust their wives usually feels so because they make zero income and probably came from a place that could use a lot of help,in other words make them no use their money take solve family problems of their in laws..
That is why it is always good to be on a certain social strata before getting married,not just to raise a comfortable family but also increases one's reach in the kind of families he will pick a wife from.
No be that kind family weh you go Marry wife and you hear say them don roof house weh their late father abandon 25 years ago just after you marry her,instead of you to be happy for them,you go start to wonder why it happened immediately after you marry their daughter.
"Could it be coincidence?"you will ask yourself
Or did I just marry a BIG FAT FÙCKING RAT that I will be stocked with for the rest of my life
Immediately your hair will start falling off in your early thirties due to over thinking and the inevitable financial mishap that awaits you.
One will stop eating,start daydreaming,losing focus and start exhibiting symptoms of poverty even before it starts and then the shocking news will come
Guess what it is;
The mother in law that had 2 lazy grown up sons and semi frustrated daughters that could barely fix their leaking roof for 7 years just took delivery of a new SUV and now wear only gold necklace and now tie hollandis wrapper to sit at home.
And then yours truly,the angel God personally sent to rescue a generation out of poverty will pay a visit one day to them,stays dumbfounded,goes back home with his wife and die of heart attack leaving behind all what he has toiled for,for a people he don't know..
I will be the last person to date or marry a poor woman
This story is very generic and refers to no one in particular,take it to heart at your own risk cos I won't bother responding to criticism.
It is not an advise!

I understand where you're coming from. The summary be say, all man need shine in eyes properly before marriage.

As a single guy, ladies without any source of income never appealed to me. I think of myself as quite stingy and repeated financial requests irritate me. When it was time to get married, my eyes were widely opened so I guess I'm enjoying the dividends of due diligence.

Its easier to defraud a lady than a man. That type of fraud that says if you tell the next person you are dead.

Exactly, all those scams where the ladies will willingly hand over her jewelries to a gang and add transport.
All those guys that their wives have access to their vault, I'd say be grateful especially if you have been married for at least 15years. The ones that don't trust their wife with their funds do so for a reason, better not to judge them.
You can trust someone in one thing but not in another, so it's not usually that the wife is a thief, it's usually a complex situation, difficult to explain.

Barrytone:
Its easier to defraud a lady than a man. That type of fraud that says if you tell the next person you are dead.

rationalmind:


I understand where you're coming from. The summary be say, all man need shine in eyes properly before marriage.

As a single guy, ladies without any source of income never appealed to me. I think of myself as quite stingy and repeated financial requests irritate me. When it was time to get married, my eyes were widely opened so I guess I'm enjoying the dividends of due diligence.

I don't believe it's the due deligence you claimed... I think your wife is a reflection of you, your skill, and your leadership style. You men underestimate your influence in the way your wife acts when it comes to money or 'trust' as you put it.

A woman's love is powerful.. Some of you have a good woman who loves you and is trustworthy, but you will never experience the true power of her love and trust because of your past deeds and inconsistencies.

A 'wife material' needs a good 'taylor' to bring out its beauty

There is also a product being run by United Capital which I subscribed to around February this year when TBills started nosediving...it is called the Bond Fund and as at when I bought into it, it was 10.0% but as at Today it is 9.59%. I think it is a pretty good deal. Very similar to MMF in that profits are calculated on the fly...

I also made sure I got written confirmation of "Security of Capital" from my Account Officer to be sure that it is not an Equity Fund product.

emmanuelewumi:
As at yesterday these are the rates for Money Market Funds, with the three firms I have dealings with.

1.FBN Asset Management 5.3%

2.FSDH Asset Management 6.19%

3.United Capital Asset Mgt 7.23%


Rates are determined by the proportion and duration of Treasury Bills, Commercial papers, FG bonds and Fixed deposits, they have in their portfolios.


The rates are poor but still better than buying Treasury Bills, MMF are also more flexible