QuinModah:
They were issued draft an the account closed.

In my own opinion, the CBN failed to acknowledge that more advanced countries like Japan, South Korea, Switzerland, Singapore, Portugal, USA, UK, Canada, Australia and France have taken a position approach to regulate the market. Germany has also recognize beatquoin as a means of payment in 2018.

China is also on the verge vof becoming the first country in the world to issue Central Bank Digital Currency (CBDC), a project it has been working in since 2018

With the ban CBN has facilitate the creation of an ecosystem built without Nigerian banks. Unless the internet is banned the money will be transferred to and from Location and person.

A better approach would be
-Allow banks own this
- institute a KYC rules and attract FDI

Visa a one time enemy of this cry.pto community is partnering with 35 cry.pto platforms and will be helping bank roll out beatquoin & cry.pto buying and trading services with a Visa cry.pto software program.

pluto09:


Has anything come out of national assembly summons of anybody before.
If CBN reevaluate its own action, it might take a new approach and possibly put in some regulations in place .
My point actually is not to put any hope in CBN changing its stance.
If they change, good, if they don't, we look for alternatives and move on.

Lazyyouth4u:
More crypto discussions . How many of us even get crypto investment sef ?

Na wa...

Lazyyouth4u:
More crypto discussions . How many of us even get crypto investment sef ?

Na wa...

emmanuelewumi:


It will take a year or thereabout for Treasury Bills to get to 10% and above, my opinion though.

I think one should also be on the lookout for long term bonds that can pay 15% and above

emmanuelewumi:



CBN does not have the powers to stop forex and crypto currencies trading. CBN did not stop them from the traders from operating. In fact CBN does not have the resources to do such, it is a global trade which CBN can't control or regulate.

As we are speaking traders are still making big money from forex trading and crypto currencies trading.

A bond trader on the FMDQ platform has this to say.

" Why relying on FIAT money infrastructures and payment systems?

Naira is not a floating currency.

The best approach should have been to remain with the block chain and decentralized/distributed architecture.

Crytos thrive on anonymity, why relying on an open and auditable infrastructures of the FIAT money to provide comfort and ease for crypto traders? "


The question we should have ourselves is this, did CBN act within its powers?
If No, affected bank customers can sue CBN.

The banks can't sue CBN, except they want to be out of business.

QuinModah:
I do, do you?

emmanuelewumi:



There is a thread for that Investment and they are cashing out big time, maybe you should visit the place

Akin3891:


Yes long time bond is the way to go but we won't have favorable bond rates untill tbs rate increase significantly, I'm hoping rate could get to 6/7 before year ends.

As soon as I can secure at least 13% in a long time bond, I will opt out of tbs then launch my net with bonds. With long time bond, you save yourself the headaches that comes with high n low rates during economic crisis

emmanuelewumi:


Exactly, but you also need to look at inflation.

QuinModah:
I do, do you?

QuinModah:
Yes, but with the summon of SEC and CBN by the National Assembly, things will change.

emmanuelewumi:



Returns from bonds and Treasury Bills are not inflation proof, unless you have a strategy to achieve it

QuinModah:
Yes, but with the summon of SEC and CBN by the National Assembly, things will change.

Lazyyouth4u:


I don’t o. I don’t do speculative investments. Plus I have no idea how that shitt works. Is it a currency for exchange of goods or services? Or are people just going in to make money from the next maga that joins late? It makes no nose sense to me. Me I like to sleep well at night and can’t be bothered about what I don’t understand

I may miss out on some cool cash but that’s fine. I’m content

Lazyyouth4u:


Things will not change o. CBN is not playing and even SEC is now on CBN’s side. Countries that have lots of criminals that are using it to launder money are banning it left, right and center. CBN in fact acted late. Nobody wants to accept this but majority of the trades in that thing in Naija are carried out by yahoo boys. This is a fact.

The sooner we accept this, the better for us neutrals. So we can move on to other types of investments and stop whining about the so called ‘CBN ban’

emmanuelewumi:


You are a young man speculation is not totally bad if you are smart and not greedy.

As a young man, invest for cash flow, reinvest part of the cash flow from your Investments, have an emergency reserve,invest for growth and allocate 5% to 10% of your liquid assets to sensible speculative assets or Investments

Lazyyouth4u:


Great advice. So how much/what percentage should one allocate to fun and entertainment budget for ....(you know what)

emmanuelewumi:


I use 5% and below of my active income and part of the dividends from money market funds which act as my emergency reserve

Lazyyouth4u:


Things will not change o. CBN is not playing and even SEC is now on CBN’s side. Countries that have lots of criminals that are using it to launder money are banning it left, right and center. CBN in fact acted late. Nobody wants to accept this but majority of the trades in that thing in Naija are carried out by yahoo boys. This is a fact.

The sooner we accept this, the better for us neutrals. So we can move on to other types of investments and stop whining about the so called ‘CBN ban’

Lazyyouth4u:


I don’t o. I don’t do speculative investments. Plus I have no idea how that shitt works. Is it a currency for exchange of goods or services? Or are people just going in to make money from the next maga that joins late? It makes no nose sense to me. Me I like to sleep well at night and can’t be bothered about what I don’t understand

I may miss out on some cool cash but that’s fine. I’m content

QuinModah:
Lol! What are you doing in NSE prediction investment

emmanuelewumi:


Your N10 million invested in a 30 years bond at 15%, will give you a steady coupon of N1.5 million for 30 years. Even when N1.5 million losses it's value due to inflation, unlike an investor who got an annual dividend of N1.5 million from Zenith bank about 12 years ago who is currently getting a dividend of N6 million.

Same with rental income, the rent can't remain at N1.5 million for 30 years

Lazyyouth4u:


I’m not on NSE o. NSE sef dey fear me . Too much mago mago

emmanuelewumi:


Your N10 million invested in a 30 years bond at 15%, will give you a steady coupon of N1.5 million for 30 years. Even when N1.5 million losses it's value due to inflation, unlike an investor who got an annual dividend of N1.5 million from Zenith bank about 12 years ago who is currently getting a dividend of N6 million.

Same with rental income, the rent can't remain at N1.5 million for 30 years

emmanuelewumi:


You are a young man speculation is not totally bad if you are smart and not greedy.

As a young man, invest for cash flow, reinvest part of the cash flow from your Investments, have an emergency reserve,invest for growth and allocate 5% to 10% of your liquid assets to sensible speculative assets or Investments

Lazyyouth4u:


I thought emergency reserve is a ‘don’t touch’ reserve strictly for emergencies. Abi they say just keep 3 to 6 months normal spending budget and never touch until there is an emergency

But I’m talking about monthly allocation to fun and entertainment budget

Akin3891:


Fact, but you have to put to work interest generated from bond to keep the balance. If you were offered a 15% bond for 30 years, what % of your total funds will you lock in and what will be your exit plans should inflation keep bitting hard?

Lazyyouth4u:


I don’t o. I don’t do speculative investments. Plus I have no idea how that shitt works. Is it a currency for exchange of goods or services? Or are people just going in to make money from the next maga that joins late? It makes no nose sense to me. Me I like to sleep well at night and can’t be bothered about what I don’t understand

I may miss out on some cool cash but that’s fine. I’m content

QuinModah:
Lol! What are you doing in NSE prediction investment

ahiboilandgas:
Under 40 marketer used other people money to have big turn over in their oceanic bank coperate accounts with a 14 by 14 office location inside container to trigger bank to buy product in million s for them to sell ....end up in premium tears and Amcon.....ramanniya depot move from a palm oil dealer to a depot owner with zero asset no aduited report no balance sheet no long grammar( Alh can even hear long accounting grammar ) just hunderd of millions paid via this by marketers located in far north...boom ocenic bank built the depot and still operational and doing NNpc triput ......book ,grammar doest work in Nigeria