Tb going up ....

igbizen:
Crypto discussion continues. I Dey come.

emmanuelewumi:


Caused by Treasury Bill investors

Is that an Apple Macintosh Classic computer I see there?

Hello All,

I would like you to share your knowledge and insights with me on this tax matter.

Assume that you're working for a multi-national company in Lagos and you periodically set aside around 60% of your net monthly pay and invest same into the shares of well-run companies listed on the NSE.

Assume further that at the end of ten years of working with the multi-national company, you decide to resign and incorporate your own company by being a distributor for the multi-national company's products.

However, before the incorporation of your company, you sold all your overvalued shares in your personal name and moved the proceeds into your newly incorporated company's bank account. In this case, would the person be liable to pay any tax to the Lagos Internal Revenue Service (LIRS) or the FIRS based on the proceeds from his liquidated shares?

Thank you.

TwiceASGiant:
Hello All,

I would like you to share your knowledge and insights with me on this tax matter.

Assume that you're working for a multi-national company in Lagos and you periodically set aside around 60% of your net monthly pay and invest same into the shares of well-run companies listed on the NSE.

Assume further that at the end of ten years of working with the multi-national company, you decide to resign and incorporate your own company by being a distributor for the multi-national company's products.

However, before the incorporation of your company, you sold all your overvalued shares in your personal name and moved the proceeds into your newly incorporated company's bank account. In this case, would the person be liable to pay any tax to the Lagos Internal Revenue Service (LIRS) or the FIRS based on the proceeds from his liquidated shares?

Thank you.

Advisable you consult a tax advisor and get [paid] professional advice since you want to stay on the right side of the law.

ahiboilandgas:
Tb going up ....

What's driving the rates up?

And do you think it'll continue to go up?

Grupo:


What's driving the rates up?

And do you think it'll continue to go up?

i thinks it has to do with excess Liquidity driving up inflations , when u crash interest rate by Magic ( not economic fundamentals) those cash moved to NSE ( institutional money (pension funds) while individuals moved to dollars to preserve value...this new inert pressure on the dollars caused deprecaitions of Naira .and as an import dependant Nation where even the local production uses foreign machinery ,Experts and raw materials this translate to price going up for Good and service...including basic food like indomie has jumped 20 percent in retail price .The CBN/govt is worried of continues inflation pressure on Nigeria ....this could lead to social disturbance, crime increase ,insurrections coups etc .....they have to curb the virus (excess cash in the system .....) to forestall a bigger and irreversible destruction of the Naigerian state and people.... ( 106m extreme poor human are ware house in Nigeria)...

ahiboilandgas:
Tb going up ....

Nowadays people don't care about tb rate

ahiboilandgas:
i thinks it has to do with excess Liquidity driving up inflations , when u crash interest rate by Magic ( not economic fundamentals) those cash moved to NSE ( institutional money (pension funds) while individuals moved to dollars to preserve value...this new inert pressure on the dollars caused deprecaitions of Naira .and as an import dependant Nation where even the local production uses foreign machinery ,Experts and raw materials this translate to price going up for Good and service...including basic food like indomie has jumped 20 percent in retail price .The CBN/govt is worried of continues inflation pressure on Nigeria ....this could lead to social disturbance, crime increase ,insurrections coups etc .....they have to curb the virus (excess cash in the system .....) to forestall a bigger and irreversible destruction of the Naigerian state and people.... ( 106m extreme poor human are ware house in Nigeria)...

Hmm. Sounds plausible.

kings11ng:


Nowadays people don't care about tb rate

investors do ....they have been taking a hits on the NSE ...after making a kill last year ....any movement in tb is a danger to NSE .....its the rocket fuel powering the NSE not some Sterling performance by Poorly manage Nigeria companies

ahiboilandgas:
Tb going up ....

how many percent now?

Good morning great business men and women. I need your advice. Is it advisable to start a cement business now because I want to go into it.

What is the cause of this?

ahiboilandgas:
investors do ....they have been taking a hits on the NSE ...after making a kill last year ....any movement in tb is a danger to NSE .....its the rocket fuel powering the NSE not some Sterling performance by Poorly manage Nigeria companies

Investors are seeing how shitty and inefficient the NSE is and would rather just park their money in Tbills and sleep well at night.

Plus the auctions are driven by bids. More people possibly bidding higher at the target levels required by DMO as auctions no longer as oversubscribed as they used to be?

As soon as all man troop back in and auctions get oversubscribed, expect yields to drop again.

ahiboilandgas:
investors do ....they have been taking a hits on the NSE ...after making a kill last year ....any movement in tb is a danger to NSE .....its the rocket fuel powering the NSE not some Sterling performance by Poorly manage Nigeria companies

Sterling performance by poorly managed companies

Lazyyouth4u:


Investors are seeing how shitty and inefficient the NSE is and would rather just park their money in Tbills and sleep well at night.

Plus the auctions are driven by bids. More people possibly bidding higher at the target levels required by DMO as auctions no longer as oversubscribed as they used to be?

As soon as all man troop back in and auctions get oversubscribed, expect yields to drop again.

As we slowly approach another election year dont yiu think rates woukd keep rising? Especially given the appalling performnace if the NSE during election years

ojesymsym:
What is the cause of this?

they are basically not real firms in Nigeria but some racketing organisation or some oligopoly .....we don't have the human resource just just not available ( theft and manipulation is endemic in public and private enterprise.....

Petrol racketing has begins Nigerians are face with only 2 choice for now....a 200 naira fuel crude at 61 or long hours in stations and forced to buy black markets at 250 ......the choice is yours.....since we have collectively run down our refinaery in the name of been the smartest people on earth.....

ahiboilandgas:
Petrol racketing has begins Nigerians are face with only 2 choice for now....a 200 naira fuel crude at 61 or long hours in stations and forced to buy black markets at 250 ......the choice is yours.....since we have collectively run down our refinaery in the name of been the smartest people on earth.....

Quit this blame game and holier than thou posturing

ahiboilandgas:
Petrol racketing has begins Nigerians are face with only 2 choice for now....a 200 naira fuel crude at 61 or long hours in stations and forced to buy black markets at 250 ......the choice is yours.....since we have collectively run down our refinaery in the name of been the smartest people on earth.....

Government will try to avoid social unrest by subsidizing while waiting for Dangote refinery to start production.

Tyche:


Quit this blame game and holier than thou posturing

am not holy am a Nigerian ....when u spend 10 hours on queue u will understand ...

NL1960:


Government will try to avoid social unrest by subsidizing while waiting for Dangote refinery to start production.

better the citizens are at breaking point.

shalomblue:
If you have ever used your account for cryto payout, just know that your account will be closed.
Cbn is not joking about the issue at all

Story story

ahiboilandgas:
investors do ....they have been taking a hits on the NSE ...after making a kill last year ....any movement in tb is a danger to NSE .....its the rocket fuel powering the NSE not some Sterling performance by Poorly manage Nigeria companies

Alot of us have moved to fintechs. So far so good, steady cashing out.

OgogoroFreak:
Alot of us have moved to fintechs. So far so good, steady cashing out.

abi traditionalists for investments

Leezah:
Sir your view, Once Amazon start accepting beatquoin payment on their site, others will follow.

I don't really agree with this... It was not designed as fiat or meant to replace fiat

First Square, then PayPal now MasterCard on board. Visa (a one-time antagonist) rushing in too... The direction of travel is clear.

https://www.mastercard.com/news/perspectives/2021/why-mastercard-is-bringing-crypto-onto-our-network/

MasterCard already testing digitol currencies with central banks.

https://www.google.com/amp/s/www.forbes.com/sites/billybambrough/2021/02/03/visa-reveals-bitcoin-and-crypto-banking-roadmap-amid-race-to-reach-network-of-70-million/amp/

Binance already launched a naira, free person-2-person deposit system. CBN has no idea what it's fighting... They should go ask China....


When I said I have significantly more confidence in value and longevity of bitc0in over the Naira, I wasn't bluffing!

Sailor1:
First Square, then PayPal now MasterCard on board. Visa (a one-time antagonist) rushing in too... The direction of travel is clear.

https://www.mastercard.com/news/perspectives/2021/why-mastercard-is-bringing-crypto-onto-our-network/

MasterCard already testing digitol currencies with central banks.

https://www.google.com/amp/s/www.forbes.com/sites/billybambrough/2021/02/03/visa-reveals-bitcoin-and-crypto-banking-roadmap-amid-race-to-reach-network-of-70-million/amp/

Binance already launched a naira, free p2p deposit system. CBN has no idea what it's fighting... They should go ask China..


When I said I have significantly more confidence in value and longevity of bitc0in over the Naira, I wasn't bluffing!

Saw the Mastercard announcement on Yahoo Finance just now. Interesting times ahead.

Do not confuse a financial institution choosing the safe option of earning fees by being a custodian of crypto currencies while the party is on with meaning they will not be banned in future by all central banks. When they become banned, the likes of BNY Mellon, Paypal & Mastercard will loose nothing. Holders of crypto currencies will be the losers (big time). Be warned.

Sailor1:
First Square, then PayPal now MasterCard on board. Visa (a one-time antagonist) rushing in too... The direction of travel is clear.

https://www.mastercard.com/news/perspectives/2021/why-mastercard-is-bringing-crypto-onto-our-network/

MasterCard already testing digitol currencies with central banks.

https://www.google.com/amp/s/www.forbes.com/sites/billybambrough/2021/02/03/visa-reveals-bitcoin-and-crypto-banking-roadmap-amid-race-to-reach-network-of-70-million/amp/

Binance already launched a naira, free person-2-person deposit system. CBN has no idea what it's fighting... They should go ask China....


When I said I have significantly more confidence in value and longevity of bitc0in over the Naira, I wasn't bluffing!

skydiver01:
Do not confuse a financial institution choosing the safe option of earning fees by being a custodian of crypto currencies while the party is on with meaning they will not be banned in future by all central banks. When they become banned, the likes of BNY Mellon, Paypal & Mastercard will loose nothing. Holders of crypto currencies will be the losers (big time). Be warned.

No need going back and forth on this.... Your opinion has been noted. Time will tell. It's obvious you believe those institutions operate in Ikorodu.

You also know one thing about opinions? They're like a*sholes... everybody has one.

Let me share my opinion too. In the next 5 years, central banks around the world will not only ban crypt0 but imprison and behead anyone trading crypt0. Also, those investing in the NSE will be given front sit in heaven while the naira will become the international medium of exchange... Happy now? Talk about delusional psychosis