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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4601753 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by ojesymsym: 5:06pm On Dec 03, 2020 |
Dangote failed in banking? emmanuelewumi: |
Re: Treasury Bills In Nigeria by ahiboilandgas: 5:07pm On Dec 03, 2020 |
emmanuelewumi:oga funny enough Dangote poach those guys from his brother sani gote and bello gote....including edwin was the gm dangote textile kano bought in by sani gote who own the textile while alake was bello gote university mate.....While aliko was busy using thieving Nigeria human resource from his home town........a northern regional manager stole/misappropriated 60m in 1993 ....... 1 Like 1 Share |
Re: Treasury Bills In Nigeria by ahiboilandgas: 5:09pm On Dec 03, 2020 |
ojesymsym:the bank was own by late bello gote who died in plane crash .......dangote own huge share in acess bank .....who u think say buy diamond bank ? Why access get branch opp refinery.... 1 Like |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 5:33pm On Dec 03, 2020 |
ahiboilandgas: Not correct, Access Bank used their shareholders fund to acquire Diamond. Their is no way Dangote will buy a substantial unit of share in Access Bank that Nigeria Stock Exchange, Securities and Exchange Commission won't be informed. You are a substantial shareholder if you have 5% or more of the outstanding shares of a listed company. Access has about 30 billion outstanding shares, so anybody who owns 1.5 billion and above is a substantial shareholder and can nominate a representative to the board of the company. Dangote was a major shareholder of the defunct Liberty Merchant Bank 2 Likes 1 Share |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 5:53pm On Dec 03, 2020 |
ojesymsym: Can you name a non banker who succeeded in banking in Nigeria from Abiola to Yar Adua to Ladoja and many other manufacturers, Industrialists and businessmen who established banks in Nigeria in the past 40 years? 1 Like |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 5:59pm On Dec 03, 2020 |
Ladoja was a major shareholder of Crystal Bank which later became Standard Trust Bank and merged with UBA, but see how bankers like Tony took over the bank from him in a series of recapitalization, restructuring and financial engineering |
Re: Treasury Bills In Nigeria by ojesymsym: 6:01pm On Dec 03, 2020 |
Hmmmm, interesting. I guess Saraki can also make this your list. There has to be an exception that proves the rule. What about the Ibru family? Just asking emmanuelewumi: |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:38pm On Dec 03, 2020 |
ojesymsym: Cecilia later became a banker by virtue of working at Oceanic bank, she was a secretary to Baba and later became his wife. What happened to Oceanic bank, it was mismanaged and taken over by Ecobank |
Re: Treasury Bills In Nigeria by maishai: 6:50pm On Dec 03, 2020 |
emmanuelewumi: This is the summary of the Nigerian story 1 Like |
Re: Treasury Bills In Nigeria by ahiboilandgas: 6:57pm On Dec 03, 2020 |
emmanuelewumi:na rumours i hear from people working in the refinery... |
Re: Treasury Bills In Nigeria by missjekyll: 8:02pm On Dec 03, 2020 |
ositadiima1: I am certainly flabbergasted at how little you think of your culture. imagine asking me to compare sanskrit and nsibidi. its apple and oranges. no culture is more than any other. People live in different circumstances and cultures develop as a way of surviving under those circumstances. you see why you cant compare them? I m sure the locals offered Dr Baikie some agbo to protect against malaria but he thumbed his nose at them. only to go and perish. I cannot convince you of this on Nairaland. This realization comes from travel,only through travel. I hope you soon come to this realization by yourself. Udo 1 Like |
Re: Treasury Bills In Nigeria by DexterousOne(m): 8:45pm On Dec 03, 2020 |
Lazyyouth4u: That's because there is a clear distinction between EARNED and UNEARNED income UNEARNES INCOME dey sweet to collect I remember when I recieved my first dividend years ago It felt very good lol Talk less of just passively investing 10% of that N500m on selected stocks and maybe other instrument In 6 years the passive income/cash flow will be something to cheer you up No matter how much you make Please please and please NEVER DOWNPLAY COMPOUND INTEREST and UNEARNED INCOME 6 Likes 1 Share |
Re: Treasury Bills In Nigeria by ukay2: 9:55pm On Dec 03, 2020 |
DexterousOne: Very Apt 1 Like |
Re: Treasury Bills In Nigeria by janga(m): 10:28pm On Dec 03, 2020 |
dollar now crashed to 460 even on crypto exchange. well its good for some and bad for some 1 Like |
Re: Treasury Bills In Nigeria by DexterousOne(m): 10:39pm On Dec 03, 2020 |
janga: That's good 1 Like |
Re: Treasury Bills In Nigeria by Nobody: 10:56pm On Dec 03, 2020 |
DexterousOne:You are actually giving me advice on passive income?? Hilarious ![]() When did you finish school? When did you start investing? And what is that stock that earned you your first dividend ‘years ago’? I’d really like to know. Ps: Betting doesn’t count as investing o 2 Likes |
Re: Treasury Bills In Nigeria by ositadiima1: 12:36am On Dec 04, 2020 |
missjekyll: Excerpt from wikipedia: "Human genetic resistance to malaria refers to inherited changes in the DNA of humans which increase resistance to malaria and result in increased survival of individuals with those genetic changes. The existence of these genotypes is likely due to evolutionary pressure exerted by parasites of the genus Plasmodium which cause malaria." How do you know the locals were not dying from malaria? I implore you to show me one sophisticated monument built by our Locals pre-colonization still standing today, expecially in the eastern Nigeria. Nsibidi form of writing is subject to unstandardized interpretations, similar to Egyptian hieroglyphs, as compared to sanskrit. That is why I placed both side by side in my last post for you to judge with your common senses. |
Re: Treasury Bills In Nigeria by ositadiima1: 12:56am On Dec 04, 2020 |
I tried to be as polite as I can. Lazyyouth or TransAtlanticEx wouldn't be as patient with you. ![]() ![]() ![]() |
Re: Treasury Bills In Nigeria by NL1960: 6:49am On Dec 04, 2020 |
MONEY TRANSFER FRAUD!!!!! COLLUSION AMONG CBN,COMMERCIAL BANKS,WESTERN UNION,MONEYGRAM,ETC TO KILL THE NAIRA INSTALMENTALLY. By Chief Anthony Ani,FCA,Former Minister Of Finance. "A MATTER OF NATIONAL EMERGENCY DEMANDING OUR DEAR PRESIDENT BUHARI'S URGENT ACTION! "RE: $BILLION DIASPORA REMITTANCES: WHERE ARE THE DOLLARS?" The above question was posed in an article in The PUNCH newspaper edition of September 9, 2019, by columnist Henry Boyo. I have been a daily reader of The PUNCH for the past 10 years and I have not yet, read any comments from anyone on this question. There is a need to discuss this issue, as it appears that there is massive foreign exchange laundering going on in our banks. As the architect of the Diaspora remittances in 1996, I am naturally concerned at the abuses disclosed by Boyo. When in 1995, we at the Ministry of Finance reviewed the country’s sources of foreign revenues, we found out that nothing was coming in from Nigerians in the Diaspora, whereas India and Jamaica were living on foreign exchange from their citizens abroad. When I enquired why Western Union and MoneyGram could not receive money from Nigerians abroad, I was told that it was due to our tax laws. As a Chartered Accountant student in 1962, I studied Comparative Commonwealth Taxation in Nigeria, Jamaica and the UK, and I found out that the tax laws of these countries had the same wordings on imposition of tax (“tax is imposed on income accruing in, derived from or brought into”). The question then to me was why income “brought into” India was not taxed in India? On enquiry, I found that India had modified its tax laws to accommodate its citizens living abroad who wanted to send money in foreign exchange to India. In 1996, I had proposed (and it was accepted by the Federal Executive Council) in a new law, regarding Nigerians repatriating remuneration from abroad, Nigerians repatriating dividends, royalties, fees, commissions from foreign countries receipts by authors, sportsmen/women, musicians, play writers, artist, etc. Such income repatriated into Nigeria in foreign currency was 100 per cent exempted from tax, provided the foreign currency was repatriated through a domiciliary account with a Nigerian bank! With the promulgation of this law, First Bank Nigeria Ltd brought in Western Union in August 1996 while the USA(UBA) brought in MoneyGram a few weeks later. In 1996, Nigerians abroad repatriated about $4.5bn (about 50 per cent of our gross revenue from oil) and we ensured that these amounts were brought into Nigeria, intact, in foreign exchange. The receipts increased exponentially in 1997 and 1998 and we also made sure that they were received in Nigeria, in foreign currency. The receipts helped to stabilise our exchange rate mechanism at N82 to a dollar, throughout my tenure as the Minister of Finance, to the extent that the naira was internally convertible currency. Some years ago, on my visit to London, I went to Western Union office, at Marble Arch, to test by remitting £500 to my son in Nigeria. I first had to convert the money to dollars and to my surprise, Western Union gave me a quote in naira to be claimed by my son. I refused their naira equivalent and insisted that my son must be paid in dollars. It was obvious to me that there was an arrangement between our Nigerian banks and Western Union/MoneyGram, whereby the former pays from their excess naira liquidity while the later retains the dollars abroad. In other words, the dollar remittance is retained abroad and is laundered by the Nigerian banks. This is definitely against the law which provide that all remittances must be brought into Nigeria in foreign currency via domiciliary account. If by chance, as in my case, the dollar is remitted into Nigeria, the Central Bank of Nigeria on August 14, 2014, introduced the Outward Money Transfer Service and authorised the same MoneyGram and Western Union to re-export, in tranches of $5,000 per transaction, to Nigerians abroad, on payment of the naira equivalent at the CBN rate of exchange. Thus, Nigeria is the only country in the world re-exporting its remittances. It is relevant to note that the naira is not a convertible currency but remittances which are meant to stabilise our exchange rates are re-exported! There is something wrong at our Central Bank. It could be that we have imported the mentality of commercial banking into the CBN. We now need real central bankers to govern our Central Bank. We have central bankers amongst those in the CBN, and we also have central bankers amongst the members of the Nigerian Economic Society or, alternatively, indeed, we can even go outside Nigeria to employ central bankers. The fact is that the Diaspora remittances are not retained in Nigeria and there is a collaboration between the CBN, Nigerian banks and Western Union/MoneyGram; in such an event, government must investigate the infraction, punish the money launders, and recover all past Diaspora remittances retained abroad!. Copied! The Outbound Money Transfer Services must be stopped and all our remittances retained for naira stability and the nation’s development." October 8th,2019. Etubom Anthony Ani is a former Minister of Finance,1993-1998. 4 Likes |
Re: Treasury Bills In Nigeria by ChybuzzDD(m): 7:31am On Dec 04, 2020 |
[quote author=NL1960 post=96712451]MONEY TRANSFER FRAUD!!!!! COLLUSION AMONG CBN,COMMERCIAL BANKS,WESTERN UNION,MONEYGRAM,ETC TO KILL THE NAIRA INSTALMENTALLY. Nigerians investing in the NSE are always selfishly and ignorantly jubilating about how these fraudulent Nigerian banks turn in huge profits every quarter without giving a damm how much they steal from the people. Just ask for a stock recommendation and see the answer fall within "FUGAZ"! Where in the whole wide world do banks rake in more revenue and net profits than industries and techs? Only in Nigeria, a place where both individuals and institutions are either real or potential criminals! 4 Likes |
Re: Treasury Bills In Nigeria by ositadiima1: 7:33am On Dec 04, 2020 |
NL1960: How is the money laundered when the equivalent is sent to the recipient in Naira? What is President's concern in this matter when you can open a lawsuit if you think your rights have been infringed. |
Re: Treasury Bills In Nigeria by NL1960: 9:09am On Dec 04, 2020 |
ositadiima1: Equivalent at what rate?. |
Re: Treasury Bills In Nigeria by Donbrig: 9:28am On Dec 04, 2020 |
I totally agree with this article. Every bank in Nigeria has a foreign bank account they operate from when dealing with foreign currencies and customers, I can only imagine how they could easily reach an agreement with Western Union or MoneyGram to easily pay all foreign currencies by Nigerians sending money home into their foreign accounts and our banks will now pay the recipients in Nigeria with naira equivalent, what a country. My firm advise to Nigerians abroad is to drastically reduce the way they send money to Nigeria and invest in their country of residence abroad, Nigeria is a scam and a complete failure. We are still going to be where we are today in the next 20yrs, I said it before. We also heard our Chief of Army staff saying boko-haram will last for another 20yrs or more, it is just the simple truth, because lots of wealthy Nigerians and big corporations like banks are making so much profits from this present chaos and decadence in Nigeria and they will do everything to ensure nothing change for good in the interest of the masses. To Nigerians in Diapora, go to your banks and ask questions, there are so many investment channels you could invest your money, I just got about 6% in a mutual investment funds in a well know financial institution in Europe. You could also buy lands or apartments and pay instalmentally. Nigeria is a dead end and a dream killer. No future for our children in that God forsaken country called Nigeria. Everybody breaths greed and live in greed. NL1960: |
Re: Treasury Bills In Nigeria by ositadiima1: 9:35am On Dec 04, 2020 |
NL1960: Lol, what do you expect, official rate nah. |
Re: Treasury Bills In Nigeria by NL1960: 9:43am On Dec 04, 2020 |
ositadiima1: So you can now see where the laundering mentioned by Chief Anthony Ani is coming. 1 Like |
Re: Treasury Bills In Nigeria by NL1960: 9:50am On Dec 04, 2020 |
Donbrig: Some of them have oversea branches. When i did some consulting work for a Nigeria bank then. i noticed that all export proceeds were paid in Nigeria at official rate but the export proceeds were always paid to their oversea branch. For imports, the Letter of Credits were always routed through the same oversea branch. 1 Like |
Re: Treasury Bills In Nigeria by stevemims(m): 10:18am On Dec 04, 2020 |
Re: Treasury Bills In Nigeria by stevemims(m): 10:23am On Dec 04, 2020 |
Bros, kindly help with the bolded Donbrig: |
Re: Treasury Bills In Nigeria by Qasimak1: 10:36am On Dec 04, 2020 |
DHIL/CRIME ALERT company is a fraudster, dubious company in Nigeria, especially in Ibadan, they use scam and dubious way to collect money from innocent investors and refuse to pay return on investment or return investors capital. Don't be their victim. Do you have any experience from this company DHIL/Crime Alert. |
Re: Treasury Bills In Nigeria by ojesymsym: 10:39am On Dec 04, 2020 |
As long as people continue to believe that money can be multiplied when they hand it over to some people then these scams will continue. If you are not ready to do business but want passive income then you have to learn to be very patient with the little returns you get from many passive forms of incomes. Qasimak1: 5 Likes |
Re: Treasury Bills In Nigeria by Nobody: 10:47am On Dec 04, 2020 |
[quote author=ChybuzzDD post=96713521][/quote] True, i opened zenith bank , they took 1500 naira out of my 10000 deposit within 3 day's,a whopping 15%. Why i dey yimu ![]() |
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