Bitcoin is rising and earning with no investment is here

This seems strange, why am I saying this? My opinion or experience with them is quite pleasant, I was even assigned an account officer who relates with me as per my investment with them when it is needed

Philantropists:

Good you shared this info so people don't invest with such entities. Imagine giving them your money and they don't reply your calls or mails while you are 8,000 miles away.

Philantropists:

Good you shared this info so people don't invest with such entities. Imagine giving them your money and they don't reply your calls or mails while you are 8,000 miles away.

Just be patient. Sometimes network issues can cause delays from the recipient's bank.

I have tried to refrain myself from talking so as not to increase the hard work of Investment One representatives on this thread but then let's not try shut complaints... We have been bringing complaints and issues of investment here for solutions let alone investment heard of from here.

Lots of people have complained here about StanbicIBTC, United Capital, FBNQUEST and the like. Even without representative customers with better experience have explained things to them. If you have a particular way to deposit and make the money enter his account immediately you let him know. If you deposits take more than a day or two to be credited, you let him know.

Except on very rare occasions you don't make deposits in bank and start going mailing them or calling customer service to credit you account. Most times your customer service personnel are even clueless when faced with challenges.

Please advice your firm appropriately.

Philantropists:

Good you shared this info so people don't invest with such entities. Imagine giving them your money and they don't reply your calls or mails while you are 8,000 miles away.

why are u investing in fixed or money markets instruments in Nigeria at the moments been 8000 mile away ....what your mission statements .....do u intend to earn income from Nigeria or there are no investment oppurntiies in your current location.....the naira is too unstable now so converting your pounds or dollars to invest in naira earning asset means instant Lost to u.....

This thread has, unfortunately, turned into a general one where all manner of adverts jump out to one's face whenever one opens NL space.

What does that tells us?

Why are Nigerians oversea investing in Naira asset ....this means instant lost ....the cbn has devalued the naira over and over again and currently confused on what the rate should be or how to stabilize it.....unless u are sending in more to build a retirement home or legacy home or u plan moving back to nigeria to be spending Naira or stocks that bring returns above devaluation risk and inflations .....it make no investment sense......are there no investments oppurntiies in develop countries or the reward is low .....tb rate is supposed to be around 18 percent now cos of currency swings and inflations ....

For oversea residents returns must be above 30 for u to beat devaluation risk in unstable nation like Nigeria ....it even better keeping ur saving in hard currency untill retirement......once u convert to Naira u would have earned all those fancy tb rates of 18 and stock markets returns of 15 bandied by the Nigeria economy....example if i have 100k dollars in 2013 =16m and just be adding 1000 dollars ever year by now i will 107,0000 dollars ....if am moving back to Nigeria that wil be over 50m to retire on....but if i invested the money in Nigeria money markets it will be around 33m by now

ahiboilandgas:
For oversea residents returns must be above 30 for u to beat devaluation risk in unstable nation like Nigeria ....it even better keeping ur saving in hard currency untill retirement......once u convert to Naira u would have earned all those fancy tb rates of 18 and stock markets returns of 15 bandied by the Nigeria economy....example if i have 100k dollars in 2013 =16m and just be adding 1000 dollars ever year by now i will 107,0000 dollars ....if am moving back to Nigeria that wil be over 50m to retire on....but if i invested the money in Nigeria money markets it will be around 33m by now

Oga Ahib making so much sense since 1960 .

More power to your elbow, sir. So in a nutshell, you feel it's safer to send such USD fund to a Nigerian domiciliary account than converting same to naira to invest in Mutual Funds?

ahiboilandgas:
Why are Nigerians oversea investing in Naira asset ....this means instant lost ....the cbn has devalued the naira over and over again and currently confused on what the rate should be or how to stabilize it.....unless u are sending in more to build a retirement home or legacy home or u plan moving back to nigeria to be spending Naira or stocks that bring returns above devaluation risk and inflations .....it make no investment sense......are there no investments oppurntiies in develop countries or the reward is low .....tb rate is supposed to be around 18 percent now cos of currency swings and inflations ....

Sir, you actually answered the question in your last sentence. I think the major issue is that the return is low. However, using the current reality as a yardstick, I feel that low return might be better than whatever is currently available in Nigeria except for selected equities that will beat inflation and devaluation in the long run.

Another challenge is that most Nigerians in diaspora don't have proper documentation in place which makes it difficult to invest in their country of abode. Hence, they'll rather repatriate such funds to Nigeria for investment purpose.

I intend to earn interests from Nigeria due to interest rates in my location is 0.4% with a limit of $25,000 with most financial institutions and they require declaring the capital investments at the end of every tax year which is not good.

As you said, naira is unstable. Maybe its best to hold the foreign currency until there is stability in the market. Every foreign currency i convert to naira stays in naira or put back in naira real estate/business.

ahiboilandgas:
why are u investing in fixed or money markets instruments in Nigeria at the moments been 8000 mile away ....what your mission statements .....do u intend to earn income from Nigeria or there are no investment oppurntiies in your current location.....the naira is too unstable now so converting your pounds or dollars to invest in naira earning asset means instant Lost to u.....

seyisanya:
Sir, you actually answered the question in your last sentence. I think the major issue is that the return is low. However, using the current reality as a yardstick, I feel that low return might be better than whatever is currently available in Nigeria except for selected equities that will beat inflation and devaluation in the long run.

Another challenge is that most Nigerians in diaspora don't have proper documentation in place which makes it difficult to invest in their country of abode. Hence, they'll rather repatriate such funds to Nigeria for investment purpose.

it even better to earn low rate on a stable currency example if naira would be stable for 10 years and fixed income rate is 7 and inflation 5...u are better off...

Philantropists:
I intend to earn interests from Nigeria due to interest rates in my location is 0.4% with a limit of $25,000 with most financial institutions and they require declaring the capital investments at the end of every tax year which is not good.

As you said, naira is unstable. Maybe its best to hold the foreign currency until there is stability in the market. Every foreign currency i convert to naira stays in naira or put back in naira real estate/business.

ok and getting ur points ...their is max amounts investment caps and tax issues...

Unstable currency has been a major concerns for investors /business people ...this can wipe off your gains of 10 years within 10 minutes or a cbn pronunciations ......investor thrive to keep asset in safe items like real estate in london,paris dubai etc or gold or pound or dollars generating stocks etc ..then the risk takers look for high rewarding investments in unstable currency like naira and do only short term ....in oil industry players that do import to product normal request foreign exchange guarantees from fgn/cbn or they wouldnt import ...like wise smart fdi like the power plant firm requesting forex/price garauntee from fgn of 25 m dollars monthly ...

This milk was around 4500 in 2013 ....now 10000k this inflation in action

seyisanya:


Oga Ahib making so much sense since 1960 .

More power to your elbow, sir. So in a nutshell, you feel it's safer to send such USD fund to a Nigerian domiciliary account than converting same to naira to invest in Mutual Funds?

yes na this what 20 years on investing in unstable naira has proved beyond reasonable doubt ....unless the mmf is bring in 30 percent naira is projected to hit 520 .....and it not stopping any time soon

Just as naira is undergoing a series of devaluation, those saving their money in form of USD should be careful as the fed is currently printing more dollars and raining it to their citizens making USD at high risk of devaluation.

This just has to happen...how would economies balance if there are no devalutions across board, most dollar has been overpriced in many countries which is not depicting the true situation in US

Ibrahim505:
Just as naira is undergoing a series of devaluation, those saving their money in form of USD should be careful as the fed is currently printing more dollars and raining it to their citizens making USD at high risk of devaluation.

Donbrig:
@Ositadima, I will take that as a compliment. I never attended a university, after my secondary school in Benin City, I had the opportunity to travel to Germany at a very young age, where I did my industrial training with Jungheinrich as a logistician for two years, and later went to Perugia Italy where I also did one year training with Concetti Group. Afterwards, I also had other industrial trainings in the US where I gained more experiences in industrial logistics and production. I am grateful to God I never wasted four years or more for a university degree that is often overhyped.

Nice profile

ahiboilandgas:
yes na this what 20 years on investing in unstable naira has proved beyond reasonable doubt ....unless the mmf is bring in 30 percent naira is projected to hit 520 .....and it not stopping any time soon

Oga Ahib

Thanks for the advice for Nigerian in diaspora. I am always looking forward to reading your comments on investment here, u do make sense a lot

Meanwhile, I understand recently that some banks in Nigeria are struggling to pay out foreign currency saved in domicillary account which could be a concern for the account owner . I don’t know how true is this but if it true, I think Nigerian in diaspora should be careful depositing money in their domicillary account

Philantropists:
I intend to earn interests from Nigeria due to interest rates in my location is 0.4% with a limit of $25,000 with most financial institutions and they require declaring the capital investments at the end of every tax year which is not good.

As you said, naira is unstable. Maybe its best to hold the foreign currency until there is stability in the market. Every foreign currency i convert to naira stays in naira or put back in naira real estate/business.

Once stability is achieved one should stockpile machinery and other capital goods valuable in the Nigerian market......down here in the rural environment i live in, a 16hp lster engne has moved from 200k to 500k, bajaj motocycle has moved from 105k to 240k ........anythng like 10% off their current market value you would sell all even f u have got a thousand pieces n stock

devaluation s the number 1 enemy of securites investors in fact i believe devaluation was invented to punish securities investors

akinola98:


Oga Ahib

Thanks for the advice for Nigerian in diaspora. I am always looking forward to reading your comments on investment here, u do make sense a lot

Meanwhile, I understand recently that some banks in Nigeria are struggling to pay out foreign currency saved in domicillary account which could be a concern for the account owner . I don’t know how true is this but if it true, I think Nigerian in diaspora should be careful depositing money in their domicillary account

very true....stanbic currently 100 dollars max per day ......the dorm accounts is only electronic money......in time rationing your dorm holdings are semi audio.......same as Labanese staying aboard sent over 50 bn dollars to their dorm accounts but the bank handed over to the labasene central bank as custodians now the owner tried withdrawing their savings ...now the bcb is saying no we can give u only labanese pounds ( wortless money)........they have around 28 bn dollars reserve

Do you mean stanbic only allows you to do electronic transfer for funds in dom accs deposited as cash?

Banks may get reduced inflow of forex but it will be illegal not to pay you according to cbn regulations.

ahiboilandgas:
very true....stanbic currently 100 dollars max per day ......the dorm accounts is only electronic money......in time rationing your dorm holdings are semi audio.......same as Labanese staying aboard sent over 50 bn dollars to their dorm accounts but the bank handed over to the labasene central bank as custodians now the owner tried withdrawing their savings ...now the bcb is saying no we can give u only labanese pounds ( wortless money)........they have around 28 bn dollars reserve

Philantropists:
I intend to earn interests from Nigeria due to interest rates in my location is 0.4% with a limit of $25,000 with most financial institutions and they require declaring the capital investments at the end of every tax year which is not good.

As you said, naira is unstable. Maybe its best to hold the foreign currency until there is stability in the market. Every foreign currency i convert to naira stays in naira or put back in naira real estate/business.

Better approach Sir.....

U are 100% correct sir. Banks have excess FCY as cash in Nigeria but does not have it offshore for settlement. U can withdraw as much as u can as cash in Nigeria provided u have it in ur account but u can only spend a capped limit for oversea transactions.

TotoNaRubber:
Do you mean stanbic only allows you to do electronic transfer for funds in dom accs deposited as cash?

Banks may get reduced inflow of forex but it will be illegal not to pay you according to cbn regulations.

realking:
U are 100% correct sir. Banks have excess FCY as cash in Nigeria but does not have it offshore for settlement. U can withdraw as much as u can as cash in Nigeria provided u have it in ur account but u can only spend a capped limit for oversea transactions.

say who ?This is to inform you that the monthly spend limit for International transactions on your Stanbic IBTC Naira MasterCard, will be revised from $500 monthly to $300 monthly with effect from 16 August, 2020. Daily cash withdrawal limit of $100 remains.



Should you have any enquiries on this, please contact your relationship manager, or send an email to our Customer Contact Center through customercarenigeria@stanbicibtc.com.



Thank you for banking with us.



Yours sincerely,

Both limits are applicable for outside Nigeria transactions

ahiboilandgas:
say who ?This is to inform you that the monthly spend limit for International transactions on your Stanbic IBTC Naira MasterCard, will be revised from $500 monthly to $300 monthly with effect from 16 August, 2020. Daily cash withdrawal limit of $100 remains.



Should you have any enquiries on this, please contact your relationship manager, or send an email to our Customer Contact Center through customercarenigeria@stanbicibtc.com.



Thank you for banking with us.



Yours sincerely,

For local investors holding dollars while the black markets rates is tempting. 475 which is more of a speculative rate ....the cbn has stopped funding bdc and bta and pta once international air travel open up with thousand of Nigerians coming back for Christmas and other cbn will start funding those segement too according to them .....this will make price crash tp circa 400 ....a wopping lost of 75 naira .......dont invest and sleep....your eye ,ears,and nose should be on 3 time . . Crude prices,covid vaccine(international travels) and cbn/bdc policey........we in Abcon anticipate a loss of 20 bn in between ...........non greedy local investor that had dollars at 360 has sold off at 470 and waitng for 400 naira one to be available by nov/dec to stock up........... while greedy investors are hoping to reach 520 first ......surely they will get burnt it a circle ....

The worse of the lot is buying and keeping in a dom account at this time, it will end in tears for many people because withdrawal will be a problem. As Ahib has said, don't be too greedy, invest but don't sleep on it.

ahiboilandgas:
For local investors holding dollars while the black markets rates is tempting. 475 which is more of a speculative rate ....the cbn has stopped funding bdc and bta and pta once international air travel open up with thousand of Nigerians coming back for Christmas and other cbn will start funding those segement too according to them .....this will make price crash tp circa 400 ....a wopping lost of 75 naira .......dont invest and sleep....your eye ,ears,and nose should be on 3 time . . Crude prices,covid vaccine(international travels) and cbn/bdc policey........we in Abcon anticipate a loss of 20 bn in between ...........non greedy local investor that had dollars at 360 has sold off at 470 and waitng for 400 naira one to be available by nov/dec to stock up........... while greedy investors are hoping to reach 520 first ......surely they will get burnt it a circle ....

Good morning bosses in the house, I have a TB that will mature in September, I would like to terminate it... its 2m @ 10.1% then. any ideas on what my penalty could be?

If you are not in desperate need of money to solve urgent issues, you could wait it out. Septermber is just about 2 weeks from now.

conyema12:
Good morning bosses in the house, I have a TB that will mature in September, I would like to terminate it... its 2m @ 10.1% then. any ideas on what my penalty could be?