emmaodet:


I believe so.
Did one around 2015 when naira to dollar disparity was much, around 70k between cbn rate and parallel rate.
A lot of guys made it then, you transfer from bank using moneygram to ghana, go to ghana for withdrawal and change the dollar in nigeria.
On average, i made 50k per $1,000 after removing transport and miscellaneous.
I can't do that any more because am too busy and too stressful to be going to accra regularly.
The present difference now between cbn #360/$1 to black market #435/1$ is big to kick start roundtripping again.
I'm too old for that now bro, no more on the street.

Please sir, how can one do this. I am interested in seizing the opportunity if you can give a little more explanation.

missjekyll:


Not this again. It always causes a massive fight. Are you in the country? Why not take a walk to your bank? I invest does not pay dividends till the very end of the tenure.

Or email your account officer. Yesterday I had to email my account officer to cancel some treasury bills to convert to dollars due to fear of devaluation. Within 20 minutes I got an alert. I was shocked. #GTB

For your information. I just got this email in case of any one interested.

Does devaluation not worry you? How do you hedge against it? Your 1 billion Naira today which is equivalent to 2.272 Million dollars might be equivalent to just 1 million dollars in the nearest future.

Barrytone:


Am saving my capital and uses the upfront to cater for my family. At low rate with huge capital, you can comfortably pay fees and maintain house and drink beer, its still enough. I have out grown my salary, i don't touch my salary. I run with the interest.

Fuhrerfran6:

Please sir, how can one do this. I am interested in seizing the opportunity if you can give a little more explanation.

What he said was apt.

emmaodet:


I believe so.
Did one around 2015 when naira to dollar disparity was much, around 70k between cbn rate and parallel rate.
A lot of guys made it then, you transfer from bank using moneygram to ghana, go to ghana for withdrawal and change the dollar in nigeria.
On average, i made 50k per $1,000 after removing transport and miscellaneous.
I can't do that any more because am too busy and too stressful to be going to accra regularly.
The present difference now between cbn #360/$1 to black market #435/1$ is big to kick start roundtripping again.
I'm too old for that now bro, no more on the street.

u follow sabotage the Nigerian economy with artificial demand ....now we are paying back with high cost of imported goods and inflation

ahiboilandgas:
u follow sabotage the Nigerian economy with artificial demand ....now we are paying back with high cost of imported goods and inflation

Such is life bro. If i don't, someone else will do especially your politicians.
If they are good leaders, they wont be producing bad followers

naijaoyibo:
Does devaluation not worry you? How do you hedge against it? Your 1 billion Naira today which is equivalent to 2.272 Million dollars might be equivalent to just 1 million dollars in the nearest future.

Truth, My aim is sustainability. Am aiming very high so if am cut in the middle I will still be fine. All I need is source of survival when I retire. To be able to send my kids to the best school. At 10%, a billion is 100m and that is about 8m monthly or 4m if 5%. With this if value is half I will still be average. Am an engineer, am slow in learning most of this things and I only bother about things I know. Things I don't understand, I don't allow them bother me.

ahiboilandgas:
u follow sabotage the Nigerian economy with artificial demand ....now we are paying back with high cost of imported goods and inflation

I think a weak or market determined naira is a good thing,let Nigerians consume local and the so desired industrialisation will follow suit.

Barrytone:


Truth, My aim is sustainability. Am aiming very high so if am cut in the middle I will still be fine. All I need is source of survival when I retire. To be able to send my kids to the best school. At 10%, a billion is 100m and that is about 8m monthly or 4m if 5%. With this if value is half I will still be average. Am an engineer, am slow in learning most of this things and I only bother about things I know. Things I don't understand, I don't allow them bother me.

Spot on......

Very Apt......

Continue what makes you happy Sir.

emmaodet:


Such is life bro. If i don't, someone else will do especially your politicians.
If they are good leaders, they wont be producing bad followers

u see what other citizen's keep sabotaging their forex positions and blaming the leaders for inflation.....u are among those responsible for the 18.5 percent 2016 inflations suffered by nigerians

CBN Increases Treasury Bills Stop Rates at PMA
https://businesspost.ng/economy/cbn-increases-treasury-bills-stop-rates-at-pma/

[quote author=Barrytone post=89494345][/quote]

This is nice, boss.

But why dont you do this calculation in an Excel to allow for modification of the variables and more personalized calculations.

I could try my hands around it if you can just list the information in MS word.

dipoolowoo:
CBN Increases Treasury Bills Stop Rates at PMA
https://businesspost.ng/economy/cbn-increases-treasury-bills-stop-rates-at-pma/

Is this one increment

91days from 1.85 to 2.50%
181days from 2.50 to 2.85%
364days retained at 3.85%.

dipoolowoo:
CBN Increases Treasury Bills Stop Rates at PMA
https://businesspost.ng/economy/cbn-increases-treasury-bills-stop-rates-at-pma/

More rates will be good

Good morning everyone in the house, out of curiosity what will one might have achieved to be classified as rich person or a millionaire in nigeria note i am talking about billion, example house, business, car and save's, how much?

kai you want me to cry , maka why ?

PresidentBuhari:
Remembering the sweet old days....
If you are late to the party sorry

In my own classification, anybody who save atleast 1million naira monthly from business, salary, investment e.t.c in Nigeria is rich.

Diyke4rich:
Good morning everyone in the house, out of curiosity what will one might have achieved to be classified as rich person or a millionaire in nigeria note i am talking about billion, example house, business, car and save's, how much?

unite4real:
For your information. I just got this email in case of any one interested.

Flee from this, avoid private placements. Who is the trustee to this transaction? What is the value of the property, that she needs N1 billion to complete the project?

Her books are not opened to actually know other people Mrs Ebi is indebted to. This is not the right time to invest in high end of the real estate market

Barrytone:


Truth, My aim is sustainability. Am aiming very high so if am cut in the middle I will still be fine. All I need is source of survival when I retire. To be able to send my kids to the best school. At 10%, a billion is 100m and that is about 8m monthly or 4m if 5%. With this if value is half I will still be average. Am an engineer, am slow in learning most of this things and I only bother about things I know. Things I don't understand, I don't allow them bother me.

Won't be a bad idea to also buy assets like real estate, a business, bonds etc.

Diyke4rich:
Good morning everyone in the house, out of curiosity what will one might have achieved to be classified as rich person or a millionaire in nigeria note i am talking about billion, example house, business, car and save's, how much?

Rich person is relative, if you are worth N1 billion and you live in Banana Island. You should be one of the poorest in the neighbourhood.

XiaoLi:
In my own classification, anybody who save atleast 1million naira monthly from business, salary, investment e.t.c in Nigeria is rich.

Good definition



So what is your definition of a wealthy Nigerian

A person who save atleast 10million Naira monthly and have atleast 10billion Naira in assets,investments,business,cash is a wealthy Nigerian in my own definition.

emmanuelewumi:



Good definition



So what is your definition of a wealthy Nigerian

emmanuelewumi:

Good definition

So what is your definition of a wealthy Nigerian

This question is highly subjective. If you ask 10 people, you'll get 10 different answers.

XiaoLi:
A person who save atleast 10million Naira monthly and have atleast 10billion Naira in assets,investments,business,cash is a wealthy Nigerian in my own definition.

N10 billion is huge by Nigerian standard

A person with assets and Investments that is worth N2 billion and get a minimum residual income of N120 million from the Investments and assets every year is wealthy. He must also be able to save and reinvest a minimum of 20% of the income generated.

MrMcJay:


This question is highly subjective. If you ask 10 people, you'll get 10 different answers.

Let the answer keep coming.


You have not given your own subjective definition

Since our legislators at the National Assembly earn an average of N300 million per annum, can we say they are wealthy?

emmanuelewumi:

Let the answer keep coming.

You have not given your own subjective definition

Lol. Okay. Let me make an attempt.

I think a wealthy person of today is someone whose income outweighs his/her needs and can guarantee quality living.

MrMcJay:


Lol. Okay. Let me make an attempt.

I think a wealthy person of today is someone whose income outweighs his/her needs and can guarantee quality living.

Very good. Once you are not indebted and you have something to save and reinvest at the end of year, some people can be wealthy by their own terms and definition with N100 million, which is still a huge sum in Nigeria

emmanuelewumi:

Very good. Once you are not indebted and you have something to save and reinvest at the end of year, some people can be wealthy by their own terms and definition with N100 million, which is still a huge sum in Nigeria

Of course, you're very much correct.

It really depends, some might be rich and others might be wealthy. A legistlator who make 300 Million per annum might decide to flex 280 million on travel,side chicks,liquor, super cars e.t.c and save only 20million per annum, i will classify those as rich while another legislator will use only 100 million as expenses and save 200million, i will classify those as wealthy.

emmanuelewumi:
Since our legislators at the National Assembly earn an average of N300 million per annum, can we say they are wealthy?

XiaoLi:
It really depends, some might be rich and others might be wealthy. A legistlator who make 300 Million per annum might decide to flex 280 million on travel,side chicks,liquor, super cars e.t.c and save only 20million per annum, i will classify those as rich while another legislator will use only 100 million as expenses and save 200million, i will classify those as wealthy.

Most are not wealthy, four years after they are out of office they are usually broke