freeman67:



To be very honest with you, majority of the students that goes to Benin Republic, Ghana, Cameroon and all these Neighbouring countries to school are actually those that could not get admission in Nigerian Universities. Except for those Nigerians that were born, bread and school there who decided to return to their fatherland. To also be very honest with you, I have never if not that he mentioned those names I have never heard any of those.

That said, discussions here are actually targeted towards a particular purpose. Yes, education is part of it. However, it is limited to investment and financial education. Many people here have attested to not going to any tertiary institutions but can write even better than some that have gone. In all the language we understand is how to make more money legally. If you like write it in Yoruba, Igbo or Hausa someone will interpret for those that doesn't.

If your alma mater is Oxford or Cambridge and it doesn't better your existence or upgrade your thinking order than writing good English then it is not worth it.

Personally, I would have valued this your particular contribution if you gave reasons why Nigeria should continue to spend it's hard earned Forex reserve on those schools. I may or may not agreed with the reasons but it would be that you have contribution toward the discussion.

Cyberknight:


Lol.
I don't know about that, but I do know that the school was an unaccredited mess and the Nigerian government, for once in its existence, did the right thing by withdrawing recognition from certificates issued by that school and other Cotonou ventures.

freeman67:


Personally, I would have valued this your particular contribution if you gave reasons why Nigeria should continue to spend it's hard earned Forex reserve on those schools. I may or may not agreed with the reasons but it would be that you have contribution toward the discussion.

Whitecoal711:

please which bank can I do payment
Please I want a one on one registration in any bank

einsteine:
For those who want to speculate on USD, I would advise them to buy at any price less than 440 and sell at any price above 460. The value of the Naira lies between this bid-ask prices

einsteine:
For those who want to speculate on USD, I would advise them to buy at any price less than 440 and sell at any price above 460. The value of the Naira lies between this bid-ask prices

awesomeJ:


First, speculating shouldn't be suggested to anyone. Hedging maybe, but speculating, No!

Secondly, buying at 440, you're CERTAIN to lose 10%, selling at 460 is a wish that may take years to realize.

USD will be available at sub 400 before long.

Don't take uncalculated risks in a hurry!

awesomeJ:


First, speculating shouldn't be suggested to anyone. Hedging maybe, but speculating, No!

Secondly, buying at 440, you're CERTAIN to lose 10%, selling at 460 is a wish that may take years to realize.

USD will be available at sub 400 before long.

Don't take uncalculated risks in a hurry!

hustla:


People are discussing money, he is talking about Queen's English

As if the ABokis by the road side who have a lot of input into the Parallel market's exchange rate can write a formal letter in plain English

Money itself is a language and English is not a measure of intelligence

Even Messi no sabi English

TransAtlanticEx:
Can you back the bolded wCan you back the bolded with some data?

awesomeJ:


Well, it's not hard to deduce. For one, CBN has injected at least $100m in liquidity this week? and contrary to your expectation, reserves are still up week to date.

TransAtlanticEx:
Injected 100m in what segment of the market?
That matters a lot too.

awesomeJ:


I Read about the $50m on Monday that's, and another $92m turnover at NAFEX yesterday with a menttion that the nafex turnover increase was due to the fact that the CBN was starting to clear FX backlogs gradually.

Retail segment as we expect should be getting $50m weekly beginning Monday.

https://nairametrics.com/2020/09/04/fx-turnover-spikes-140-at-nafex-market-as-cbn-moves-to-clear-backlog-of-demand/

TransAtlanticEx:
nafex has been turning over since,so it isn't new.
It's the retail segment that is a problem,and we both know $50mln will make very little difference in that market.
This is the reason why rates are going up again,cos BDCs know that intervention is almost nothing to them in their own end.
Monday shall tell...

Lazyyouth4u:

Sir, your post makes no sense

awesomeJ:


We don't both know that!

What's the maximum we ever had injected into the BDCs from 2017 through 2020Q1?

40,000 USD weekly, It was mostly 20,000 weekly per BDC, and that was enough to keep the calm.

Plus over 90% of nigerians actually don't have enough naira to buy up to 10,000 as we speak.

There are those who can afford to, but have funds tied in properties and other illiquid assets. There are also others who can afford it, but already hold their savings in foreign currencies, whereas, there's the vast majority who have dollar purchase as the last thing on their minds cos all they want is a way to pay the next rent and keep the kitchen stuffed.

So in the end, there's at most say 1,000,000 speculators having an average of NGN 1,000,000 to speculate with. That makes 1trn tops, about $2.5bn, less than 8% of current reserves.

Speculators will certainly run out to f available naira before CBN burns 10% of reserves.

Plus there's still another tactic of offering t-bills at 14% discounts again, that will make quite a number of folks decamp from the speculators bunch to the t-bills 'geng', and some will even liquidate their current dollar holdings to cash in on juicy t-bills rates.


Ultimately, I wouldn't advise anyone to bet against the fortunes of the naira as it's currently a currency that is blessed.

TransAtlanticEx:
Speculators are not the only problem,there are importers too that can do a lot of turn over and swallow a huge chunk of that reserves.
Who told you BDCs use to get $40k tops pre-pandemic weekly?
They had as much as $75k weekly and now CBN can only do $20k and with resumptions of international travel,its effect might barely be felt.
You will see that on monday,unless they pump more than what they've said.

Sholapey:
Don't mind that bbn commentator he's an educated illiterate. You can speak or write English for Africa but Money stop nonsense my dear English teacher.

awesomeJ:


Please cite a reference to confirm BDCs got up to $75k weekly. Maybe I'll learn.

awesomeJ:


First, speculating shouldn't be suggested to anyone. Hedging maybe, but speculating, No!

Secondly, buying at 440, you're CERTAIN to lose 10%. Selling at 460 is a wish that may take years to realize.

USD will be available at sub 400 before long.

Don't take uncalculated risks in a hurry!

ahiboilandgas:
yes we use to get around that range 20k,20,20,k then 10k

awesomeJ:


We don't both know that!

What's the maximum we ever had injected into the BDCs from 2017 through 2020Q1?

40,000 USD weekly, It was mostly 20,000 weekly per BDC, and that was enough to keep the calm.

Plus over 90% of nigerians actually don't have enough naira to buy up to 10,000 as we speak.

There are those who can afford to, but have funds tied in properties and other illiquid assets. There are also others who can afford it, but already hold their savings in foreign currencies, whereas, there's the vast majority who have dollar purchase as the last thing on their minds cos all they want is a way to pay the next rent and keep the kitchen stuffed.

So in the end, there's at most say 1,000,000 speculators having an average of NGN 1,000,000 to speculate with. That makes 1trn tops, about $2.5bn, less than 8% of current reserves.

Speculators will certainly run out to f available naira before CBN burns 10% of reserves.

Plus there's still another tactic of offering t-bills at 14% discounts again, that will make quite a number of folks decamp from the speculators bunch to the t-bills 'geng', and some will even liquidate their current dollar holdings to cash in on juicy t-bills rates, making dollars even more available.


Ultimately, I wouldn't advise anyone to bet against the fortunes of the naira as it's currently a currency that is blessed.

ahiboilandgas:
yes we use to get around that range 20k,20,20,k then 10k

einsteine:


Your opinion.
USD under 400 is not sustainable.

awesomeJ:


So it was sustainable for 3 years at 360, and you think 400 isn't?

Like I said, you should start buying. We'll see how it turns out.

einsteine:


So you are saying the same conditions that were around that period are also on ground now? Lol. Many of you "patriots" would eventually eat humble pie

Hallenjay:
CAN ONE TRADE DOLLAR ON THIS ABOKI FC??.
I want to invest small tin so i can call asset somewhere

einsteine:



Your opinion.

USD under 400 is not sustainable.

Tvegas:
Buy Zenith shares right now, collect dividend in March 2021 ,you can sell or hold thereafter. Idle funds are starting to move to the capital market.

Hallenjay:
i dont kmow much abt shares, but if i want to try... How much can a milly give me by march nxt year

Hallenjay:
i dont kmow much abt shares, but if i want to try... How much can a milly give me by march nxt year