NewStats: 3,261,714 , 8,174,892 topics. Date: Friday, 30 May 2025 at 09:33 AM 2r6q4n

You all should go and invest in the economy .

One of the challenges of moving funds from one currency to invest in another currency is conversion loss which is clearly what I believe you have experienced here mostly as a result of devaluation. It is a well known danger of investing in a different economy from yours.

I wonder how FPIs are able to do it anyway.

12inchess:


Would it beat devaluation and constant mismanagement.m by Nigerian govt this equities your talking about? Any investment that will domicile my money in Nigeria is waste of my time because Nigerian govt is not serious.

9jatriot:
One of the challenges of moving funds from one currency to invest in another currency is conversion loss which is clearly what I believe you have experienced here mostly as a result of devaluation. It is a well known danger of investing in a different economy from yours.

I wonder how FPIs are able to do it anyway.

Naira was relatively stable during the high TBill yield era that FPIs were flooding in.

12inchess:


I don't mean "scam" as in fraud or MMM. I mean "scam" as in not worth it for long term investment.

PS: If anyone here knows how I can get naira as dollars in U.S. Please let me know. Thanks.

Let me save myself from the next devaluation wave ooooo
.....

Cc 12inchess

Check my earlier post. I have posted their website link and telegram link on my signature profile. You can thank me for the info by using my referral code below when you sign up.

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Donbrig:
Why is it taking so much time for nairaland s to block some people? Oga Seun Osewa, please spoil the rod and spare the child.
Our thought-provoking thread is under siege.

U don turn the proverb upside down just because say u dey vex...my people,my people.

12inchess:


Nope that is not the case. I always had and had grown this money in Naira as the naira portfolio of my investment. I wouldn't even call it investment becasue I dont consider it an investment. I will call it savings because I'm often always just trying to beat inflation and of course now devaluation. My U.S funds are just in the bank just sitting there doing nothing and I'm okay with that. I'm not really losing money nor gaining money in U.S. But I've discovered that I am constantly losing value in Nigera. The money I make from the treasury bills neither counters inflation nor devaluation hence there is really no point keeping it there. Assuming I had kept this same money in dollars in 2019 doing nothing, I will be about 8k dollars richer than the returns I'm getting from treasury bills. So how is treasury bills a good investment when I'm constantly losing value. All the long talk emmasoft has posted there means nothing to me. I don't know of anyone that will keep a sum of money and watch it lose value and term it "money they don't mind losing" If I had that kind of money that "I don't mind losing" I'd simply throw it into the dustbin.

PS: Financial freedom for may be different from you. My number one goal is that the money I save AT LEAST keeps its value. I'm low risk and I'm okay with very little gain that can beat inflation but TBills in Nigeria time and again has shown that it doesn't beat devaluation.

The 2 exchange rates in Nigeria is another problem. I can't keep my money in such a country. I'd rather lose a lot on it now than even much more in the future and trust me, the time will come when the naira will be devalued again and it may be before the end of this year.

I repeat, TBills in Nigeria is a scam. It's even better to keep your money as bitcoin.

Did anyone force u to invest in Nigeria?
In as much our economy isn't rosy at this time,we can't kill ourselves but to continue to survive and find ways to preserve our money.

I am sure people like u made money when the going was good in TB and other investments and today,u can only condemn it because of ur appetite for more and nothing more. Oga, find a way as quickly as possible to take back ur money.
Note: na only u lose money abeg make we hear word jor. Scam Kor,scan ni. Greedy people every where.

ibechris:




Did anyone force u to invest in Nigeria?
In as much our economy isn't rosy at this time,we can't kill ourselves but to continue to survive and find ways to preserve our money.

I am sure people like u made money when the going was good in TB and other investments and today,u can only condemn it because of ur appetite for more and nothing more. Oga, find a way as quickly as possible to take back ur money.
Note: na only u lose money abeg make we hear word jor. Scam Kor,scan ni. Greedy people every where.

He's saying the truth though

ukay2:


There is so much housing deficit in Nigeria.

One just needs to get Good Rental Apartments and Good Tennants....your good to go

How do you know a good tenant?

Lazyyouth4u:

The bolded is what the issue is. For that class of tenants (500k to 700k), you have to be very lucky to find tenants that can afford to keep paying rent year in, year out in this economy. No doubt, there is a shortage of affordable houses and demand is high but are there enough bankable tenants? I don’t think so. Many of these tenants will gather money and pay first one or two years just to move in. Na after that, person go come know the kind wahala wey he enter. At the end of the day, we all pray to be part of the lucky few like you that have decent tenants that continue to stay employed/thrive in their businesses in this economy.

Tenants to avoid
-Pastors:- They come with sweet mouth forming religious and nice. Only to begin giving excuses when contract renewal is due.

-Business men

-Estate developers with no verifiable information on the places he has developed.

-Tenants running from their former
landlord/lady especially if they claim relocation.

-LAWYERS avoid them like a plague.

Many tenants are very Stubborn.
They only pay their first rent promptly after that.The drama starts


Rule number 1 : do not hire who you can’t fire. Don't give your house to your close friendsor cousins they will take advantage of you.

Rule number 2: Don't be too jovial with your tenants. Once they are comfortable with you they will start taking advantage.

Lastly, ensure you make it a point of duty to speak to their former landlord, collect A port of 2 of their guarantors with means of identification from him and his guarantors (No office ID) then visit his place of work or send a letter to his employer to confirm he works in that organization.

4tunebest:
@faoogoke, it is all about strategy, adequate planning and learning from the mistakes of others to avoid repitition of same.

True but you have to learn to avoid certain tenants especially LAWYERS

missjekyll:


This is embarrassing. Now if you just go to ikpe mmiri,hire a Barrow and carry yams,you would have more than enough.
Noone on this thread will drop a penny. You had 9 months to prepare. Welldone,sir

Well said, he had a 9 month to do 50k 'ajo"

just

ahiboilandgas:
Cavet....dont work with my advice or suggestion or write ups ....

ukay2:


Look for potentials to pay subsequent rentals.....very important for me.

How do you know a potential tenants that will pay.

Thisnut:
i believe so too. The 6 apartments that i am currently working in benin city is all taken except the one i kept for myself. It's currently on the painting sage at the moment, even during the building stage a lot of people were coming to check it out. Location is the key and it's better to invest good money on a land. The building itself would be worthless if the land is cheap and under developed.

Lol! Sir it a new house people will rush it especially if the location in New Benin, Ringroad, Aduwawa or even 3rd but ensure you do Know your tenants (KYT)

Thisnut:
isihor area just after uniben. Few blocks from benin/Lagos road

hot cake? They government just upgraded the ishior college if education to polythenic

ahiboilandgas:
That the name of the cbn/Nirsil bank covid 19 facility at 9 percents with monitorium of 6 months and 5 percent till 2021 ...Max 10m no collateral....only bvn ...everthing is online at Nirsil bank site..u must attend 2 days trainings by the cbn designated centres and the certificate....Nb they buy the income generating assets for u ...i know 5 people that have gotten 1 poultry,resturant,photography and transporter.......no dullings.......advice borrow what u can handle....payments is like 156k per months for 7 years .....Good luck...

Ogami person fit collect this loan buy land or use am rent shop?

IamRichards:
And I should add this,I never imagined soliciting for help offline/online,but when you are among the furloughed staff with no pay since march,whatever you planned must surely crash.And yes,this is more embarassing than you can imagine.

How about your Pastor, friends and family? They should be the right people to call upon at this time.

hustla:


He's saying the truth though

The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

mrkels:
You all should go and invest in the economy .

Invest in the economy and inflation and unstable exchange rate takes your wealth?

ibechris:




The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

Isn't that too harsh brother?
Still very possible that his loss in this outweighs his gains. One love.

ibechris:




The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

12inchess:


I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

You are very much on point, last year ending when covid started, I knew the naira would nosedive again, so converted majority my savings to $$ and Bitcoin while I stock my shop with products. In NIGERIA, NEVER SAVE MONEY just like that, use it for something. The naira isn't really in good shape

12inchess:


I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

Investing in dollar can be good and rewarding but you must get your strategy right.
This might not be the best time to switch to dollar.

ibechris:




The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

He is saying undiluted truth ofcourse, it is only diaspora Nigerians that will understand him. If i mention how much i have lost because of the recent devaluation you will be suprised.

hustla:


He's saying the truth though

pluto09:



Investing in dollar can be good and rewarding but you must get your strategy right.
This might not be the best time to switch to dollar.

Please when is the right time o! When it was $380 - $400, people said it was not the right time, that CBN is making moves. That they will soon start selling dollars and the naira will rise. Later on they restricted forex for food and fertilizer. I don't know if that has helped. Exchange rate is still hovering around 445. Some people said when Dangote refinery is completed, the demand for dollar will reduce and naira will appreciate. That change is coming soon we should wait. But this country just seems to want to defy all economic indices. Who knows what the exchange rate will be like in 10years. I wish i had listened to the people preaching dollar savings when dollar was $360 and lesser.

Most politicians have majority of their long term savings in foreign currency. I think I read here that Osinbajo declared pounds as cash assets. Even Dangote set up an office in USA recently specifically to preserve his investments.

Who knows? Maybe having assets in foreign currency is wiser given the state of the nation.

I am just managing 5% in commercial paper and low rates in other investments while waiting for dollars to drop so that i can convert all my naira to dollars, I will never keep more than 10M in naira again once dollar drops and this is the last time i will be caught in naira devaluation, tbills, mmf, e.t.c in Nigeria doesn't worth it..once there is a devaluation you will lose all the gains and even some of your capital.

12inchess:


I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

12inchess:


I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

l concur with you and can relate with your ordeal

But you mentioned sometime ago you were able to beat the devaluation and buy $300k usd at N360/$. What really happened ?

XiaoLi:
I am just managing 5% in commercial paper and low rates in other investments while waiting for dollars to drop so that i can convert all my naira to dollars, I will never keep more than 10M in naira again once dollar drops and this is the last time i will be caught in naira devaluation, tbills, mmf, e.t.c in Nigeria doesn't worth it..once there is a devaluation you will lose all the gains and even some of your capital.