Dexter, I think you should really heed the advice here. There is a reason why even first class graduate can be put under third class graduates who have lot of hours of real life experiences. School teaches you controlled or ideal environment scenarios, real world is very erratic and need a lot of skills to navigate. While the modelling of different scenarios that good education provides is very useful, nothing beats real experience. As the number of years on a job begins to increase, it will be assumed you have seen, experienced or heard of different situations and learnt how those situations were dealt with.

You do owe the CBN governor an apology for some of the direct insults on his person, when holding such a position, you usually have to juggle with a lot of things many of which are not textbook scenario and even more outside your control. Moreover he is a senior colleague to you.

However, there is some positives to your attitude, you probably are someone who wants to be better or the best, that means your mindset is a good one that should be channeled properly. Do not forget that first class law graduates still have to go to law school, even then they do not become SAN or start handling serious cases in the court room immediately, e get y.

Lazyyouth4u:

No you don’t need to be 20 or 30 years but an entry level guy does not give financial advice. You know absolutely nothing at that level. You don’t go to meetings and you don’t speak to clients. If you are brought in to take notes, you are warned to keep your damn mouth shut.

Please don’t deceive yourself. You are not in cruise control after two years. You will only be in cruise control after at least 10 years in the industry as then you would have had the chance to learn from more experienced people. You would have also failed and learnt from those failures.

Boy, give yourself a slap for comparing yourself to the CBN governor and speaking condescendingly about people who are more experienced in life and in their professions than you will ever be.

By the way, how are you always here during working hours if you truly have found a job? Rookies are dumped with busy work and sent on errands all the time.

No need to shalaye with your shalayeing epistles again o. They will still come back to bite you tomorrow.

DexterousOne:

Okomu has had consistent growth
That I can say
Dont know much about Presco though

Yes, just looking at it based on its current price

emmanuelewumi:



Yes, just looking at it based on its current price

Indeed
Used to have Okomu as one of my holdings though
Have since exited that position.
I think it's a solid company nonetheless.

ojesymsym:
Dexter, I think you should really heed the advice here. There is a reason why even first class graduate can be put under third class graduates who have lot of hours of real life experiences. School teaches you controlled or ideal environment scenarios, real world is very erratic and need a lot of skills to navigate. While the modelling of different scenarios that good education provides is very useful, nothing beats real experience. As the number of years on a job begins to increase, it will be assumed you have seen, experienced or heard of different situations and learnt how those situations were dealt with.

You do owe the CBN governor an apology for some of the direct insults on his person, when holding such a position, you usually have to juggle with a lot of things many of which are not textbook scenario and even more outside your control. Moreover he is a senior colleague to you.

However, there is some positives to your attitude, you probably are someone who wants to be better or the best, that means your mindset is a good one that should be channeled properly. Do not forget that first class law graduates still have to go to law school, even then they do not become SAN or start handling serious cases in the court room immediately, e get y.

Your advise and nice words are well taken....
And appreciated
BUT
I'll say a couple of things
1) There is a reason why the "big four" calls one with over three years of experience "Experienced Hire"

If this equities market was a formal job (just giving an example)
I'll be termed an "experienced hand"
Because I have been in it for more than the three year limit that they use to term one experienced hire
This does not mean I know everything
It means i know enough to function



Second, concerning the CBN governor and monetary policies
There are certain things cast in stone in our line of business, and the behavioral aspect of the people you aee setting those policies for is what bridges the gap between the controlled situations ans simulations (like you rightly pointed out ) and the field

That said, knowing the behavioral blunt of Nigerians (we love arbitrage very well and will do WHATEVER to benefit from it )
Why create an atmosphere that is perfect for arbitrage
Once again
That policy is VERY STUPID
To be fair to him, it's not just his fault
But his decisions ARE A PART of the fault
I like the analogy you gave about law students and graduates
Once anyone is out of law school, he is WELL QUALIFIED to give legal advise
Now its okay to be sceptic about the fact that that lawyer has say just 4 years of experience, probably less...
But that does not take away the validity of the legal advise
Will the lawyer learn more as he gets cracking?
Of course !
Are there certain grey areas that the lawyer may need to brush up on overtime?
Yes
Are there certain cases that people will trust SANs with?
Absolutely!
But, when it comes to the core
He is competent
It's the same for our Economics/Finance field
I hope you get me
I dont know EVERYTHING
BUT I KNOW STUPID MONETARY POLICIES when I see one
For example, that special purpose vehicle thing you highlighted, I dont really know Special Purpose Vehicles in depth as such, I only know the basics, hence I cant give much advise on it.......
Forex; Bitcoin, Digital Agric, etc, dont know so much as that...
But if its monetary policy, fundamental analysis or equities in general, I'll have something to say

God bless

DexterousOne:


Your advise and nice words are well taken....
And appreciated
BUT
I'll say a couple of things
1) There is a reason why the "big four" calls one with over three years of experience "Experienced Hire"

If this equities market was a formal job (just giving an example)
I'll be termed an "experienced hand"
Because I have been in it for more than the three year limit that they use to term one experienced hire
This does not mean I know everything
It means i know enough to function



Second, concerning the CBN governor and monetary policies
There are certain things cast in stone in our line of business, and the behavioral aspect of the people you aee setting those policies for is what bridges the gap between the controlled situations ans simulations (like you rightly pointed out ) and the field

That said, knowing the behavioral blunt of Nigerians (we love arbitrage very well and will do WHATEVER to benefit from it )
Why create an atmosphere that is perfect for arbitrage
Once again
That policy is VERY STUPID
To be fair to him, it's not just his fault
But his decisions ARE A PART of the fault
I like the analogy you gave about law students and graduates
Once anyone is out of law school, he is WELL QUALIFIED to give legal advise
Now its okay to be sceptic about the fact that that lawyer has say just 4 years of experience, probably less...
But that does not take away the validity of the legal advise
Will the lawyer learn more as he gets cracking?
Of course !
Are there certain grey areas that the lawyer may need to brush up on overtime?
Yes
Are there certain cases that people will trust SANs with?
Absolutely!
But, when it comes to the core
He is competent
It's the same for our Economics/Finance field
I hope you get me
I dont know EVERYTHING
BUT I KNOW STUPID MONETARY POLICIES when I see one
For example, that special purpose vehicle thing you highlighted, I dont really know Special Purpose Vehicles in depth as such, I only know the basics, hence I cant give much advise on it.......
Forex; Bitcoin, Digital Agric, etc, dont know so much as that...
But if its monetary policy, fundamental analysis or equities in general, I'll have something to say

God bless

You think he has the free hand to do what he wants to do?. So much politics are in some of these positions.

Implications:


Dear Valued Investor,

We are pleased to inform you that the book build for the River Jamieson SPV Limited (“River Jamieson” or “the Issuer”) ₦25 Billion Fixed Rate Senior Guaranteed Series 1 Bond is now open. The offer opens today Monday, 7 December 2020 and is scheduled to close on Friday, 11 December 2020. Funding will be on Monday, 14 December 2020. Price guidance is 8% - 9%

The Bond is sponsored by the Edo State Government ("the State"wink and guaranteed by an Irrevocable Standing Payment Order ("ISPO"wink on the State's revenue issued by the State's Ministry of Finance. Proceeds from the ISPO shall be remitted monthly into a Sinking Fund Account, established and managed by appointed Bond Trustees (the Trustees are duly registered with the Securities and Exchange Commission), for the purpose of meeting all obligations in accordance with the Trust Deed.

The State’s focus on strengthening its public institutions, facilitating private sector investments, improving infrastructure, and facilitating public education reform has continued to yield significant benefits. The State’s Internally Generated Revenue (“IGR”) grew at 11% CAGR between 2016 and 2019 (averaging ₦24 Billion annually) with tax sources accounting for 67% of IGR. The State is embarking on this capital raise to support infrastructural investments in order to enable it improve upon its already strong growth trajectory.

Please click the button below to see the following documents.

Series 1 Pricing Supplement
Programme Document
Series 1 Commitment Form
The Series 1 Bond rating reports by Agusto & Co. (“Agusto”) and Datapro (“Datapro”)
The Sponsor’s rating report by Agusto & Co. (“Agusto”) and Datapro (“Datapro”)

RayRay06677:
Implications:


Dear Valued Investor,

We are pleased to inform you that the book build for the River Jamieson SPV Limited (“River Jamieson” or “the Issuer”) ₦25 Billion Fixed Rate Senior Guaranteed Series 1 Bond is now open. The offer opens today Monday, 7 December 2020 and is scheduled to close on Friday, 11 December 2020. Funding will be on Monday, 14 December 2020. Price guidance is 8% - 9%

The Bond is sponsored by the Edo State Government ("the State"wink and guaranteed by an Irrevocable Standing Payment Order ("ISPO"wink on the State's revenue issued by the State's Ministry of Finance. Proceeds from the ISPO shall be remitted monthly into a Sinking Fund Account, established and managed by appointed Bond Trustees (the Trustees are duly registered with the Securities and Exchange Commission), for the purpose of meeting all obligations in accordance with the Trust Deed.

The State’s focus on strengthening its public institutions, facilitating private sector investments, improving infrastructure, and facilitating public education reform has continued to yield significant benefits. The State’s Internally Generated Revenue (“IGR”) grew at 11% CAGR between 2016 and 2019 (averaging ₦24 Billion annually) with tax sources accounting for 67% of IGR. The State is embarking on this capital raise to support infrastructural investments in order to enable it improve upon its already strong growth trajectory.

Please click the button below to see the following documents.

Series 1 Pricing Supplement
Programme Document
Series 1 Commitment Form
The Series 1 Bond rating reports by Agusto & Co. (“Agusto”) and Datapro (“Datapro”)
The Sponsor’s rating report by Agusto & Co. (“Agusto”) and Datapro (“Datapro”)

Cannot find on the internet why this name "River Jamieson SPV" was chosen. Why not simply 'Edo State Bond' since Edo state is guaranteeing it from her revenue generation?.

Joeyburton:
MBA forex has scammed their cherished customers.

do u know why u don't have sense ....it's because of the way you talk.......you posted something now yet cannot defend it ...who has mba scammed ,how and when.....just posting an unprecise message and execpt people to listen to you.......or was it not me mba paid recently again!! .....

NL1960:


You think he has the free hand to do what he wants to do?. So much politics are in some of these positions.

Well you are right
Some political decisions have to be made to cater to certain interests
That's the game
But a central bank governor has more room to make autonomous decisions
Than say the minister of finance

ositadiima1:


If I had that ur 300 or 500 mil u have been accumulating, I would have distributed it in the stock market earlier this year when prices were at their all time low. Stocks like dangote cement, zenith and okumuoil etc would have served all the diversification I needed. And just be a dividend collector for the next few years. A guaranteed 20% annual return plus asset appreciation would have been used to pursue this other riskier investments.

Dangote cement because Nigeria is a developing country and the need for building and construction materials will be in demand for a very long time. Also because the company is well established and will be very hard to be overtaken by new comers.

Zenith, well, any of d FUGAZ would do. The Nigerian banking sector is kind of solid, almost all monetary transactions go through banks.

Okumuoil is into the agricultural sector.

Don't mind my rambling, my views are usually very simplistic and I maybe very wrong.

At no time have I claim to own 500m, am only struggling to own a billion despite devaluation of naira, I just need that billion naira. I don't have 500m anywhere.

RayRay06677:


At no time have I claim to own 500m, am only struggling to own a billion despite devaluation of naira, I just need that billion naira. I don't have 500m anywhere.

Little drops of water make the big ocean, the journey of a thousand miles starts with a step

Slow and steady wins the race.

emmanuelewumi:



Little drops of water makes the big ocean, the journey of a thousand miles starts with a step

Slow and steady wins the race.

Thanks for the encouragement. eyes on the ball

NL1960:


You think he has the free hand to do what he wants to do?. So much politics are in some of these positions.

Very true.

By 2025 Obaseki don comot as governor abi

RayRay06677:
Advise needed here:

The summary of the offer is presented below:

Issuer River Jamieson SPV Limited
Guarantor Edo State Government
Programme Size ₦25,000,000,000.00
Issue Size Up to ₦25,000,000,000.00
Description Series 1 fixed rate senior guaranteed bonds
Sponsor Rating ‘A-’ by Datapro
[Bbb-] by Agusto
Issue Rating ‘A-’ by Datapro
[Bbb] by Agusto
Price Guidance 8% – 9%
Tenor 5 years
Par Value ₦1,000 per unit of the Bond
Issue Price 100% of par value
Units of Sale Minimum of ₦10,000,000 (10,000 units at ₦ 1,000/unit) and multiples of ₦5,000,000 thereafter
Security Structure Irrevocable Standing Payment Order of the State and Guarantee and the full faith and Credit of the State
Issue Date [●] 2020
Maturity date [●] 2025
Book Build Opens December 7, 2020
Book Build Closes December 11, 2020
Funding Date December 14, 2020
Day Count Fraction Actual / Actual
Offer Mode Offer for subscription via a book build
Coupon Basis Fixed rate, semi-annual
Principal Redemption Basis Amortising with a 1 year moratorium
Noting FMDQ Private Markets Platform
Use of Proceeds To finance identified infrastructural projects (refer to pricing supplement)

This is exactly how Nigeria works, laws are made withouth using common sense, the first time i tried to bring my wife and kids to Nigeria the people at Nigeria embassy in my country of residence asked me to bring my statement of account to make sure i can take proper care of my family while in Nigeria, i asked them if it means i cannot take my family to Nigeria even if i'm broke..they couldn't answer this question but insisted that providing my statement of account is one of the requirements. There's no common sense on that.

RealityShot:
SEC should make e-dividend automatic
By sending customers bank details along with names to the registrars

Why is that so hard?

Why can I not open a stock broking account, buy shares and start getting dividend to the bank account I registered with my broker?
No need for extra steps before I access dividend.
Most people don't even know about the extra steps self, Why outstanding dividends no go climb?

Most of the market woman banks sold shares to inside markets in owerri in 2008 don't know how to get those shares now.

Dangote flour Mills delisted from the exchange while owing me 900 units,
How do I get that back?

That happened because EDC registrars kept asking me to sign papers and send via FedEx at N3000 a pop to Lagos, and I got tired when I realised I had spent the entire worth of the shares on posting papers!

SEC is the problem, they need to rearrange the dividend process as I said above.

XiaoLi:
This is exactly how Nigeria works, laws are made withouth using common sense, the first time i tried to bring my wife and kids to Nigeria the people at Nigeria embassy in my country of residence asked me to bring my statement of account to make sure i can take proper care of my family while in Nigeria, i asked them if it means i cannot take my family to Nigeria even if i'm broke..they couldn't answer this question but insisted that providing my statement of account is one of the requirements. There's no common sense on that.

Most countries will use your statement of account as supporting evidence for proof of funds when applying for an individual visa or family visa. It's nothing new.
No country wants to admit people that'd put more burden on their system.

I think you are wrong here, inviting your spouse and children to your country of origin is different from inviting your immediate family to your country of residence. Do you think an American living in Nigeria will need a statement of account to get an american visa for his legally owned children born in Nigeria by a Nigerian woman? You can enlighten me.

jedisco:


Most countries will use your statement of account as supporting evidence for proof of funds when applying for an individual visa or family visa. It's nothing new.
No country wants to admit people that'd put more burden on their system.

XiaoLi:
I think you are wrong here, inviting your spouse and children to your country of origin is different from inviting your immediate family to your country of residence. Do you think an American living in Nigeria will need a statement of account to get an american visa for his legally owned children born in Nigeria by a Nigerian woman? You can enlighten me.

Do parents own their children?

Yes, if you are legally married to a woman in the country of my residence you own any child/children of such marriage legally, if you are not married to a woman and she gives birth, the woman owns the child legally and you have no right or whatsoever to claim such child.
In other words you can be a parent without owing the child legally here.

ositadiima1:


Do parents own their children?

XiaoLi:
Yes, if you are legally married to a woman in the country of my residence you own any child/children of such marriage legally, if you are not married to a woman and she gives birth, the woman owns the child legally and you have no right or whatsoever to claim such child.
In other words you can be a parent without owing the child legally here.

That's an interesting culture

XiaoLi:
This is exactly how Nigeria works, laws are made withouth using common sense, the first time i tried to bring my wife and kids to Nigeria the people at Nigeria embassy in my country of residence asked me to bring my statement of account to make sure i can take proper care of my family while in Nigeria, i asked them if it means i cannot take my family to Nigeria even if i'm broke..they couldn't answer this question but insisted that providing my statement of account is one of the requirements. There's no common sense on that.

Were you applying as a non Nigerian citizen?.

XiaoLi:
Yes, if you are legally married to a woman in the country of my residence you own any child/children of such marriage legally, if you are not married to a woman and she gives birth, the woman owns the child legally and you have no right or whatsoever to claim such child.
In other words you can be a parent without owing the child legally here.

DexterousOne:


That's an interesting culture

Why did you say the bolded?. In Nigeria, if you have not paid dowry, you are seen as not properly married the woman. In some cultures, the girl's family can claim the children.

XiaoLi:
Yes, if you are legally married to a woman in the country of my residence you own any child/children of such marriage legally, if you are not married to a woman and she gives birth, the woman owns the child legally and you have no right or whatsoever to claim such child.
In other words you can be a parent without owing the child legally here.

Both parents own the children, their a limit to the so called ownership because they are not commodities

NL1960:




Why did you say the bolded?. In Nigeria, if you have not paid dowry, you are seen as not properly married the woman. In some cultures, the girl's family can claim the children.

But he is not resident in Nigeria and the lady is not a Nigerian. Both of them own the children

I applied as a Nigerian, that is the reason i said in my earlier post that there is no common sense in asking me to bring a statement of account. I dont know if they mean that i cannot take my children to Nigeria if im broke.

NL1960:


Were you applying as a non Nigerian citizen?.

What most countries will need is a marriage certificate, the children's birth certificate to prove that you are their father and a means of identification to show that you are a citizen of the country you are travelling to.

NL1960:


Were you applying as a non Nigerian citizen?.

Both parents own the children biologically but not legally if you are not legally married to the mother of the children.

emmanuelewumi:



Both parents own the children, their a limit to the so called ownership because they are not commodities

XiaoLi:
Both parents own the children biologically but not legally if you are not legally married to the mother of the children.

You are expected to pay for the upkeep of the children.

XiaoLi:
I applied as a Nigerian, that is the reason i said in my earlier post that there is no common sense in asking me to bring a statement of account. I dont know if they mean that i cannot take my children to Nigeria if im broke.

Quite funny. How can a citizen be asked to show proof of subsistence just because he is going to his country with his family?. Maybe you can take up this issue with the Nigerian in Diaspora Commission. Some of these laws need to be changed.

Let me put this issue in my class whatsapp forum for insights from those abroad.

This is not right,they are my children both biologically and legally, what if i plan to relocate with them permanently to Nigeria..does it mean i will not be allowed to do so because im broke?

emmanuelewumi:



You are expected to pay for the upkeep of the children.

Yes you get it right,a citizen is not supposed to show proof of subsistence of any sort to take his children home. Some things just need to changed there!
I don't have time to take such matter up, to stop the embarrasement i did Nigerian residence for my wife and minor visa for my kids through my wife's residence..matter closed!

NL1960:


Quite funny. How can a citizen be asked to show proof of subsistence just because he is going to his country with his family?. Maybe you can take up this issue with the Nigerian in Diaspora Commission. Some of these laws need to be changed.

Let me put this issue in my class whatsapp forum for insights from those abroad.

emmanuelewumi:



You are expected to pay for the upkeep of the children.

This is NOT in doubt