ahiboilandgas:
very true i hold a dollars position to mitigate my cost of procurement oversea...i buy truck tyres ,rim,injectors ,truck heads ,discharge valves from my dollar holdings ....i work in a regulated enviromemt and cannot increase prices in naira to reflect devalutions...example. [b]Apapa to airport is125000 per trip for over 2 years but tyres have jumped from 55k to 80[/b]k ....while dstv has increase price to 18500 while me am stuck...

ahiboilandgas:
very true i hold a dollars position to mitigate my cost of procurement oversea...i buy truck tyres ,rim,injectors ,truck heads ,discharge valves from my dollar holdings ....i work in a regulated enviromemt and cannot increase prices in naira to reflect devalutions...example.Apapa to airport is125000 per trip for over 2 years but tyres have jumped from 55k to 80k ....while dstv has increase price to 18500 while me am stuck...

Olaide1295:


Why don’t you wait until you want to purchase the tyres before procuring dollars? Like you, Mama Akara also does not trust the CBN will not devalue the naira.

The vegetable oil she uses for frying is also imported.

ahiboilandgas:
she has an alternative to vegetable oil imported their local grandnuts oil ...but are the alternative to truck tyre .....donkey legs i think ....

ositadima1:
I flunked through school, my secondary education was a mess, I used to score F's like tomorrow no dey. Always averaging between 40 and 50% . I giraffed and cheated alot. But I was good at math, i learnt math in class, teaching it to classmates some of which averaged 70% and above. In my JSS1 I could remember drawing letters instead of copying from d blackboard, I didn't understand the words formation. To be honest most of my grades in the WAEC (2000) exams were a product of copying from my neighbors. I was also among the pioneers of NECO, anybody that took the exam then knows how freely available the expos were.

The first time I did some work was for my jamb prep. I had to study the whole math, physics and chemistry syllabus with no much prior knowledge. It took me 3 attempts to get in my course of choice (the second attempt was fruitful but I messed up the school choices and so had to re-write). In the uni I tried in the first and second year, then in the rest I went back to my ways, lol, ended with a 2.2. Maybe it would have been 3rd if not for those first 2 years.

I was lucky, after NYSC I got an average job in one of those oil servs, courtesy of my uncle. Now, I am doing same thing, my peers have all left to bigger jobs making lots of $$$ and I am still at my drawing desk, 10 years later. I think I am a mess.

Sometimes, I blame Dad for truncating my life. I did my nursery and elementary school in Rome, Italy. I can remember back then I was among the best in my class, my teachers reports were favourable. In my class I was never discriminated against I felt I was like them, used to have a best friend, Fernando Carissimi. It was not to last, my Dad wanted to return to his country Nigeria, without any practical plans.

Ever since, I have been sinking. What I would have been if we had staid back or relocated to better countries like usa or uk, some families relocated to usa back then, it was easier. I know I am being irrational. I also derailed a thread too. I am depressed. I lack d will to act.

nna777:


I hope this isn't coming late. Depression is usually a product of effort over a period of time not yielding the desired reward. It happens. Its part of life. I suggest you take sometime to rest (physically and emotionally).

Laughter is a form of rest and antidote for depression. Watch funny movies, listen to clean funny jokes, read funny articles. Anything to give you a full belle laugh. Try to do this daily.

Try to limit your social media presence especially searching for school mates whether primary, secondary or uni. We're humans. Funny emotions will rise when we see our mates ahead (Trust me, most of what you see online is packaging).

Certificate is what schooling gives to you but education (commitment to life long learning) is what makes a man. An body who commits to profitable education can rise to any height. The price for greatness must be paid with the currency of consistency.

I read your posts on the stock thread. you are a bright man. If you continue with your education of the stock market, I won't be surprised what will be your networth in 10yrs time. Remember Billionaires are educated investors.

Most especially cultivate a personal relationship with your Maker. He is the only one that REALLY has your best interest at heart.

I hope this helps.

ahiboilandgas:
Nigeria is a abnormal nation where citizens hold over 23 bn dollars unused dollars in dorm accounts with no plans to invest or put the money into productive use ....

ahiboilandgas:
why will dey import maize whem there 999,000 sqm of arable land in Nigeria ..katsina got over 60000 sqm very arable .....new enterprise of maize farmer will spring up to fill the void as done with local rice...

Philantropists:


Dollar at the International market just nose dived this evening. This brings more problem for the Naira as the rate of exchange will definitely go up or maintain the same spot. Everytime the USD performs bad at International market, Nigerian govt. loses millions of expected dollars from sale of oil, the same proceeds the CBN bring to the Nigerian forex market with a combination of the reserve to cater for forex demand.

Artificial scarcity of dollar will persist, it is only a matter of weeks and a maximum of 18 months.

Cyberknight:


Nosedived?
It fell by one point against the GBP to 1.33, and barely moved against the euro.
One would hardly term that a "nosedive".

lovewins:
Hello everyone

I need your help

I currently have 1BTC I want to withdraw from Blockchain to an exchanger I can withdraw I'm Naira. However, I'm not sure which will give me the best value. Kindly help with recommendations of which will give the best value right now

Thanks

Please no Nairaland buyers, only recognised exchange platforms

feelamong:
www.nairaland.com/attachments/1354359_NTB_jpg9d4cae535bd0bde1399af69caf610bc5

Treasury Bills! Why It Is The Best Investment For Now:

A lot of people have been asking for some time what Tbills are all about and where they could buy the bills from,

This thread is dedicated for all issues related to Treasury Bills, their going rates, when Auctions are due and why they should be bought,

I am not a Finance person, am just a trader who was lucky to work in one financial insitution years back so I might not be the best person to answer questions on this as they come, But am sure we have a lot of financial gurus with CFAs in this Forum and all our questions would be answered,

pluto09:



Binance is still by far the best for now.

The value of 4 major coins traded against the naira on binance in the last 24 hours tops N4b,that is more than 4 times the total value of stocks traded on NSE today.

TransAtlanticEx:
We are an import dependent country,with millions of importers not eligible to get forex from CBN.
So why won't dollar trade on the street like sweets?
If una like,make una no devalue,naira go depreciate and spiral till it collapse las las
Btw,your BDC people are still selling in the 400s this morning oo upon say CBN dey threaten fire and brimstone on monday
Them don know say CBN na toothless bulldog

ahiboilandgas:
Funny enough it hurts ever one inculding the Bleep akara seller ....cos the drug company is forced to import at speculative rate cos by araka sellers and when the araka seller have malaria he hia force to buy antimalaria at this self induced speculative rate ....instead of 600 naira the akara seller now pay 1000 .....effectively lossing out the imaginary gains ...

einsteine:
The free market always wins.

We have seen such economic foolishness in areas like drug prohibition before. We saw it when George Soros broke the Bank of England and the BOE exhausted its foreign reserve trying to defend the pound before giving up. We saw it when the Swiss tried to prevent their currency from appreciating but were forced by the market to give up. We see it when China tries to prevent capital flight and enterprising hustlers still find a way to provide "capital flight services" to those who don't have faith in the CCP and the CNY.

The CBN refusal to allow the Naira a bit of freedom is economic idiocy and only benefits currency profiteers and hustlers.

ahiboilandgas:
why will dey import maize whem there 999,000 sqm of arable land in Nigeria ..katsina got over 60000 sqm very arable .....new enterprise of maize farmer will spring up to fill the void as done with local rice...

Olaide1295:


Why don’t you wait until you want to purchase the tyres before procuring dollars? Like you, Mama Akara also does not trust the CBN will not devalue the naira.

The vegetable oil she uses for frying is also imported.

NL1960:


Depending on the area. 2 or 3 bedroom flats or better still self-contain(1 bedroom) apartments. I recently saw a storey building that was formerly face-i-face-you. Somebody bought it and converted it to a self contain (a room, a sitting room, kitchen, toilet and bathroom). All of them are occupied with young couples and working young bachelors. There is privacy for each person. The owner even created a space somewhere for generator compartment for each.

TotoNaRubber:
There are so many trading commodities out there, find one that is safe and trade on daily basis, every week i invest hundreds of thousands Naira with a minimum of 25% profit on every investment, some investments make 4% but this one only sits to wait while the high yielding investment become available.

While davaluation is hurting some, more millionaires are being made

Tobex4realTobex234:


It's not a poverty thing. I used to think that way too until I worked in Kano for 2 years. I forgot my phone one time in a Keke Marwa and the driver brought it to my hotel. When I told my friends at work, they all testified to how many of those occasions they have witnessed severally.

I don't like bringing race to the matter. But what is very evident is that there are some particular ethnic groups in Nigeria that are most likely to be dishonest, cruel and possess a lot of theft tendencies. So let's stop pretending an average Nigerian doesn't have issues. It's not all poverty. North is the poorest region in the country, and by that half baked analogy, they shouldn't be honest.

wamiikechukwu:


Permit me so say this


Are you suggesting that all available land should be use to cultivate maize.

What happens to soya beans, legumes of different varieties, rice, cassava, land for animals husbandry etc.

The truth is we don't have enough resources to plant 50-60% of what we eat.

There are exceptions though...

Chibexe:
Good morning seniors in the house.

I'm planning to liquidate my investment in mutual funds and use the funds to buy two cars for Taxify/Uber business. I plan giving those cars on high purchase with weekly returns from the drivers I also have plans of buying insurance for the two vehicles. Kindly advice me, those that have ventured into this line of business before or anybody with vital information that will help me.

Thanks.
Buzor

ahiboilandgas:
better productive use of capital .....there a thread for uber /taxify check it..

Chibexe:
Good morning seniors in the house.

I'm planning to liquidate my investment in mutual funds and use the funds to buy two cars for Taxify/Uber business. I plan giving those cars on high purchase with weekly returns from the drivers I also have plans of buying insurance for the two vehicles. Kindly advice me, those that have ventured into this line of business before or anybody with vital information that will help me.

Thanks.
Buzor

TransAtlanticEx:
Bros why are mallams still buying dollar 470 upon day CBN dey misyarn.
Does it mean CBN and naira don cast

Chibexe:
Good morning seniors in the house.

I'm planning to liquidate my investment in mutual funds and use the funds to buy two cars for Taxify/Uber business. I plan giving those cars on high purchase with weekly returns from the drivers I also have plans of buying insurance for the two vehicles. Kindly advice me, those that have ventured into this line of business before or anybody with vital information that will help me.

Thanks.
Buzor

Comeandcollect:
Does anyone know the rate mallams buy $20 bills, is it same as $100s?
They currently buy N470 due to expected resumption of flights, as soon as CBN start selling to them, they will hoard and rate will keep rising again. Simialr thing happened in 2016 when dollar hit N520, CBN was still supplying them and they were busy cashing out until more millions were pumped in by the CBN then rate crashed, this time may be different.