Nakedman:
Access Bank reviewed their interest rates yesterday. Very funny

ahiboilandgas:
set up an enterprise, take calculated risk ...it must not be interest income only....

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

wamiikechukwu:

HIDA that use to have 4-6% pa is now 1-1.25%pa... there is fire on the mountain

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.

OgogoroFreak:
Are you serious about this?

Chai! I hope say VGIF too no go reduce their own too o.

awesomeJ:


Point out the changes.

Oil only really recovered in 2018. 2017 averaged just around $50, maybe a little over. 2017 production was also depressed by millitancy. Reserves had only just reached $30bn.

Even if it's by just 5%, our import substitution drives have reduced FX pressure.


So based on things that are facts,

State how 2017 was a better time for FX sustainability than now.

2017 was better, and CBN is bold enough to be doing 2% rates now? compared to the desperate 18%?

You don't have to be convinced. Start buying at 440!

einsteine:


So you really think the Naira would appreciate at a time when rates are at 2 percent compared to when it was 16-18% ? At the moment, you can earn more on dollar denominated investments than on Naira investments (at least from a retail perspective) yet you somehow think that some magic would prevent Nigerians from converting Naira to hard currency?



And I don't understand what you mean by start buying at 440. Did you read my previous post? You say you expect dollars to sell for less than 400 very shortly, how much dollars would you be willing to sell at 410, I would be willing to make arrangements to buy ALL.

awesomeJ:
With all the noise about people sweeping out dollars: For a population of about 100m adults, how many people would you guess to be having eurobond or dollar fund accounts as at July 2020?

With the way some people are saying boys will clear... here, you'd think at least 1m people.

The fact is not even 100k, not even 10,000 people out of 100m have investments in eurobond and dollar funds. As a matter of fact, it's just under 7,000 entities in the entire nation and perhaps in the diaspora too.

So, like I said, there are folks who can afford to buy 10,000 USD currently, but they have funds tied in properties or other illiquid assets, there are also those who can afford to, but already have their funds in foreign currencies. BUT the Really VAST majority would just rather have their bills sorted than worry about buying dollars.

So in the end, the available naira to speculate with is grossly overrated.

Check VGIF, for instance, it's perhaps the fixed income vehicle with the highest yield these days, and with all the yield seeking guys moving money there, the fund has only grown from about N2.2bn when rates crashed in October 2019 to about N6.9bn in July.

So If all those who poured the N4.7bn there chose to buy dollars at 380 instead, their money won't even be enough to buy $13m.
The bulk of that N4.7bn could have even been from institutional client(s) o.
Yet some people think $50m weekly which is $200m every month is small liquidity.

You're looking overly down on the size of the dollar supply whereas you're overestimating the size of the available naira.

The guys with real liquidity that can scare me are pension funds with trillions worth of idle cash, not all these speculators that can't even buy $100,000 in a whole year.
Regulations prevent the PFAs from speculating.

awesomeJ:
With all the noise about people sweeping out dollars: For a population of about 100m adults, how many people would you guess to be having eurobond or dollar fund accounts as at July 2020?

With the way some people are saying boys will clear... here, you'd think at least 1m people.

The fact is not even 100k, not even 10,000 people out of 100m have investments in eurobond and dollar funds. As a matter of fact, it's just under 7,000 entities in the entire nation and perhaps in the diaspora too.

So, like I said, there are folks who can afford to buy 10,000 USD currently, but they have funds tied in properties or other illiquid assets, there are also those who can afford to, but already have their funds in foreign currencies. BUT the Really VAST majority would just rather have their bills sorted than worry about buying dollars.

So in the end, the available naira to speculate with is grossly overrated.

Check VGIF, for instance, it's perhaps the fixed income vehicle with the highest yield these days, and with all the yield seeking guys moving money there, the fund has only grown from about N2.2bn when rates crashed in October 2019 to about N6.9bn in July.

So If all those who poured the N4.7bn there chose to buy dollars at 380 instead, their money won't even be enough to buy $13m.
The bulk of that N4.7bn could have even been from institutional client(s) o.
Yet some people think $50m weekly which is $200m every month is small liquidity.

You're looking overly down on the size of the dollar supply whereas you're overestimating the size of the available naira.

The guys with real liquidity that can scare me are pension funds with trillions worth of idle cash, not all these speculators that can't even buy $100,000 in a whole year.
Regulations prevent the PFAs from speculating.

ultron12345:
Did you know that Olam International, one of the world's largest agri-business multinationals with revenues of over $26Bn, was founded in Nigeria by Indians in 1989.

I wonder what Nigerians were complaining about back then or what excuses they were giving. Decades from now, we'll hear of more Lebanese/ Chinese/ Indian multinationals founded in Nigeria today, while Nigerians do nothing but complain and blame government

ojesymsym:
This here is what they call modeling. The risk has been captured analyzed and found not to be as big as it is been speculated to be.
There is one argument that the nay sayers have been able to disprove, which is how come CBN held USD successfully at around 360 till when coronavirus kicked in? If you claim 2016 is different from 2020, what are the difference and how is the fundamentals of 2016 better than 2020?

Question for you @awesomej, we cannot deny that around December, USD was already beginning to feel some pressure and many analyst were so sure that CBN will devalue this year even though CBN came out to deny it. How come that prediction came to pass even though neither party foresaw coronavirus?

Fortunate25:
Hi, Bosses
Am new here, need someone to put me through.
Thanks

Oyindamolah:
I lost my dad a few years ago. It's been very difficult but we having been pushing through. I am in my early 20's with 5 sibling.

Dad left some properties for us. I happened to be the first female child.

Property 1
Is almost completed to decking level no windows and doors. It has not been plastered or floored, JUST sand filled. We currently occupy group flat in this property.

Property 2
Is an uncompleted building with no roof.

I have my mum with underlying illness and 5 siblings to cater for.

I currently work but the money is not enough to to even complete the current abode or property 2.


Please, What do I do?

ahiboilandgas:
sell one to complete the second property .

tolajay:
I've invested with RISE before.

Quite a fairly novel investment platform. They're learning quite fast.

Pretty decent returns while preserving my funds against devaluation. I cashed out at the peak of the Naira free-fall.

However, I'm not sure this is the best time to buy dollar as there are chances of an improved FX market which might hunt your profit, badly.

Do your market analysis, observe trends, start with an experimental investment.

Best wishes.

Oyindamolah:
Thank you

NL1960:


Nigerians were saying there is lack of infrastructure and were speculating on foreign currencies.

TransAtlanticEx:
Listen to me, never sell an uncompleted,non revenue generating property.
They'll buy it for peanuts which might not be enough to complete the other property,unless you want your dad's work to go in vain.
You should look for ways in making money to complete it,you might get favoured.

Oyindamolah:
I am listening Sir but I only finished school some years ago I had allow my younger ones complete their education hence I couldn't further.

What's other way(s) in making money aside from working?

Oyindamolah:
Thank you. The cost if completing property 2 is cheaper compared to Property 1 but mum says it will be unfair
1. to my siblings because if their schooling
2. Dad because property 1 was his plan for us
3. Property 2 is very far from town with infrastructure especially for her medicals.

Oyindamolah:
I lost my dad a few years ago. It's been very difficult but we having been pushing through. I am in my early 20's with 5 sibling.

Dad left some properties for us. I happened to be the first female child.

Property 1
Is almost completed to decking level no windows and doors. It has not been plastered or floored, JUST sand filled. We currently occupy group flat in this property.

Property 2
Is an uncompleted building with no roof.

I have my mum with underlying illness and 5 siblings to cater for.

I currently work but the money is not enough to to even complete the current abode or property 2.


Please, What do I do?

Sholapey:
Sell property 2 to complete the side you occupy in property 1.

Lazyyouth4u:
Depends on the location of these properties. Where are they located? Please don’t rush to sell any of the properties o

TransAtlanticEx:
If you search,you shall find.
But it will take time,with plenty effort and brain.
But if you feel selling is your only option,who am I to question you.
Afterall I am not the one in your shoes,so I wouldn't know how it pinches.

ultron12345:
Did you know that Olam International, one of the world's largest agri-business multinationals with revenues of over $26Bn, was founded in Nigeria by Indians in 1989.

I wonder what Nigerians were complaining about back then or what excuses they were giving. Decades from now, we'll hear of more Lebanese/ Chinese/ Indian multinationals founded in Nigeria today, while Nigerians do nothing but complain and blame government

TransAtlanticEx:
Listen to me, never sell an uncompleted,non revenue generating property.
They'll buy it for peanuts which might not be enough to complete the other property,unless you want your dad's work to go in vain.
You should look for ways in making money to complete it,you might get favoured.