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Nigeria INVESTMENT/FINANCE 9ja thread

would you rather make your own money or have your Man fund your lifestyle?


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Ohema91

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I finished the Smarter Investing book in early January and have been watching YouTube vids. I tried opening a Trading 212 account but I've been put on the waiting list :cry: it's been over 2 weeks now! I think it was due to the Gamestop fiasco.

Does anyone have any other suggestions? Trading 212 seems to be the most recommended and I've been using the practice account in the meantime.

@MadameHeaux thank you again!
 

MaMabearr

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I finished the Smarter Investing book in early January and have been watching YouTube vids. I tried opening a Trading 212 account but I've been put on the waiting list :cry: it's been over 2 weeks now! I think it was due to the Gamestop fiasco.

Does anyone have any other suggestions? Trading 212 seems to be the most recommended and I've been using the practice account in the meantime.

@MadameHeaux thank you again!
I use trading 212! Might be due to the GameStop issue but I had an account before the whole fiasco
 

fuzzymua

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For those in Canada, I recently moved to interactive brokers because Wealthsimple’s fills are awful. Just stealing my money.
“Free” equals pay more .
 

yumyums

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U.K. try Freetrade. Really easy to use - like Gamestop. For more serious account and long term holds Hargreaves and Lansdown.

Not financial advice;

If you’re starting out with small funds of course you won’t necessarily be looking at the big boys and really established stocks - think about every day companies that you use/buy/consume/support and think you’ll be using in years to come and look up their price history. Always do your due diligence - read annual accounts, look out for news, think about potential for growth.

Long term holds are best for newbies. If you want to get in and get out it’s a lot more risky and you’ll need guidance and mentoring. Don’t invest what you can’t afford to lose.

I got in on $NOK but only for fun. Watching the GameStop saga was a very interesting lesson in the madness that is capitalism. All a scam.

Try Chaka for local Nigerian stocks and international stocks.
 

Cutemista

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My thoughts: For people who are not really experienced and or cant afford to lose ALL of the money that they invest in the stock market I don't not recommend it... due to the lack of control.

I think starting out I would focus on other ventures where I had more control.

Digital downloads/books/courses etc is a very good path to invest in.

Don't need a lot of people (staff/employees) to do it
No physical inventory.
No shipping concerns.
Your digital product has the ability to reach billions 24 hours a day, 7 days a week, 365 days a year.

I challenge everyone to come up with a digital product and bring it to the market (the internet) in 30 days.... From there focus on marketing and promoting your digital product.
I have done this a lot in the Nigerian market and it makes sense.
 

SanjayG

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Thanks for the tag @Pampamdeedee. Please who has bitcoin? Which app did you use to get started? Which resources did you use to educate yourself?
Just joined this thread but yeah I have Bitcoin been investing in crypto since October last year. I used to use Luno, Patricia and blockchain to buy until CBN blocked everything so I transferred all my assets to Binance which is really the only app you can buy from in Nigeria through p2p trading. I only really deal with the more popular coins because I understand their trends more , just recently invested in ripple and it looks to be making a bullish run right now though. I’m currently invested in BNB (Binance coin) , BTC (Bitcoin) , ETH (Ethereum) and XRP (Ripple).
 

SanjayG

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Thanks for the add. I'm doing stock picking and speculating right now. Don't follow me o as this is not recommended at all


I want to buy land and potentially a flat I can rent out in Lagos. Any tips?
This is also something I’m looking to do and I saw that I can get financing with some real estate companies, (looking at Brains and hammers though) so I can own the flat, rent it out and service my loan with the bank interest free.
 

JenUzo

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Did anyone tap into Dogecoin before it started blowing?
 

SanjayG

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Did anyone tap into Dogecoin before it started blowing?
No, but because it has proved to be so unreliable in the past. Right now though it’s on a +57% run, so if anyone had a bulk amount to risk and was ready to pull out anytime this would have been great.
 

JenUzo

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No, but because it has proved to be so unreliable in the past. Right now though it’s on a +57% run, so if anyone had a bulk amount to risk and was ready to pull out anytime this would have been great.
I asked precisely because I did this. I’m running and not looking back.
I’m very weary of cryptos.
 

Tmeagan

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Aww so sorry to hear that. Hopefully it wasn’t too substantial of an amount.
Painful but I can let it go. Months and months of mining.

I believe that PI will be big. I hope you’re all mining PI. It’s easier compared to other cryptos. It has no value right now (it will at the end of this year or early to mid next year). But this is the best time to be a part of the mining process. It will have a lot of value in the next 4-10 years.
 

caramelpear

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Man with the new sec regulations now should I pull out of bamboo and Risevest??? I don’t want to wake up one day and the app is shut down bot I know it’s backed by the American regulators
 

Tmeagan

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Man with the new sec regulations now should I pull out of bamboo and Risevest??? I don’t want to wake up one day and the app is shut down bot I know it’s backed by the American regulators
Just hold on I believe they will find a way around it. I’m not a fan of Risevest though the customer service is horrendous.
 

Samy davis

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Hey guys can anyone give me honest opinions on PGI Global, my friend is trying sell it to me but i feel like its one of those MMM Scams. Anyone please
 

SanjayG

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I asked precisely because I did this. I’m running and not looking back.
I’m very weary of cryptos.
Ahh I see, tbh I’ve just figured that the bolder you can be with crypto the more likely you are to “cash out”. And doge is still doing well though nobody could have. Predicted!
 

Tmeagan

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Ahh I see, tbh I’ve just figured that the bolder you can be with crypto the more likely you are to “cash out”. And doge is still doing well though nobody could have. Predicted!
Litecoin and ADA will be next
 

SanjayG

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Guys just in case there’s a massive crypto dip going on right now, if you’re interested this might be the right time to buy.

nb it might still dip some more but definitely coming back up. Also don’t take my word for it please study and decide for yourself.
 

Londonbabe

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Hello everyone, not really an investment question but I want to find out if any diasporas has been able to open a Nigerian account.
 

not_today

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Hello everyone, not really an investment question but I want to find out if any diasporas has been able to open a Nigerian account.
I have but this was before the whole NIN thing and I had a hookup in the bank that sorted it out for me otherwise you'll be there every day for a week straight trying to sort it out!
 

drench2

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Anyone on the Dogecoin rocket? Got in last December, sold and bought again a few months ago. With the way the stock market has been moving mad this year, I’m glad crypto is doing well
 

MrRyann

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Does anyone know if Lagos or Abuja has networking seminars? Like actual conferences?
 

Tmeagan

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Where can I find them?
Try LinkedIn and google for your industry - for example try and google events supply and chain. Also you should have societies you can join subscription and free. They will most definitely have events.
 

MrRyann

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Try LinkedIn and google for your industry - for example try and google events supply and chain. Also you should have societies you can join subscription and free. They will most definitely have events.
Where can I find the societies? Facebook? Or?
 

Tmeagan

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Where can I find the societies? Facebook? Or?
Possibly but may be easier using google. Using google can lead you to the Facebook page where you can join or follow
 
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MaMabearr

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Hi everyone
So I have a friend that needs advice cause at this point I’m not sure how I can help her.
So this friend of mine was balling prior 2020 covid19. But 2020 in general hit her business and finances really hard like how she is living now I cannot phantom knowing who she was prior to her financial struggles.
She is in a heap load of debt I think in tune if $100k above anyways everything is wearing on her and she’s been speaking weird lately like suicide. Her business has not picked back up and has lost a lot of her clients and past contacts she has tried doing other small businesses but it’s not seemingly working
Any advice on what she can do?
I’m so sorry about your friend! Not sure I’d give the greatest advice but I think she needs her good friends around her at this point. Has she tried getting a job since the business isn’t moving now? Also she could look into selling stuff she has like bags and shoes that are expensive and use it to clear her debt . I know someone currently doing this and she’ll need to cut down big time on her spending and start saving proper for rainy days. Also if you guys could help her out financially (that’s if you lot can afford it) it’ll be nice as well!

if she’s owing on credit cards she could get a balance transfer card to clear the debt so it’s not incurring interests then focus on paying back the balance transfer card. I think they give a bit over a year to pay without interests. If I think of any more options I’d update x

hope your friend gets out of this! Sending a prayer and a hug to her…please try checking on her every second if that’s possible so she doesn’t do anything crazy xx
 
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Susiesheep

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Does anyone know any good Naira investments?

I lost a lot to some of the agribusiness schemes (the most painful was Glory Osei’s Porkmoney because I respected what she stood for) and investment in a colleagues VC company. I also lost in my crypto/stock market investments (my research sucks obviously).

Or should I just convert the little I have left and invest in dollar funds/Eurobonds?
 

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