WEBVTT 1 00:00:01.399 --> 00:00:07.280 Hey, good evening, folks. Welcome to another money space with 2 00:00:07.480 --> 00:00:11.359 me calu aja. Of course, on this space, we're talking money, 3 00:00:11.439 --> 00:00:15.880 the economy and finance, personal finance that is, and we're 4 00:00:15.919 --> 00:00:18.399 trying to make it personal to you. Some in a 5 00:00:18.399 --> 00:00:20.920 bit of a transit situation, so I said, hey, let's 6 00:00:20.960 --> 00:00:23.839 just start early. We're gonna do about two hours. If 7 00:00:23.839 --> 00:00:26.719 we are started by seven, you'd have been for an hours, 8 00:00:26.800 --> 00:00:29.800 So let's just get in quickly. This basically, like I said, 9 00:00:30.000 --> 00:00:31.719 is a space for you, folks. If you have those 10 00:00:31.800 --> 00:00:35.079 questions about investing, or you want to understand the concept 11 00:00:35.200 --> 00:00:38.479 maybe bonds, equities, or if you have a question really 12 00:00:38.520 --> 00:00:41.240 about planning and all that, this is a great, great, 13 00:00:41.280 --> 00:00:45.399 great time for you to ask and we'll try our 14 00:00:45.560 --> 00:00:49.799 best to sort of answer. I've got eliminated here as well, 15 00:00:50.840 --> 00:00:53.479 so you've got great content here, just to put it 16 00:00:53.520 --> 00:00:56.799 out there real quick, just to request or dm anyone works, 17 00:00:57.920 --> 00:01:02.600 just to also exercise. It's all educational, So nothing we 18 00:01:02.679 --> 00:01:04.879 say here is going to be an investment advice or 19 00:01:05.000 --> 00:01:08.640 should be construedors investment advice, no offers or being made 20 00:01:08.719 --> 00:01:12.280 to buy or sell. It's all education, not just to 21 00:01:12.359 --> 00:01:14.560 explain stuff to you. Guys, So I need to put 22 00:01:14.599 --> 00:01:19.280 that context out there, right, so shoot, the flow is yours. 23 00:01:19.519 --> 00:01:25.120 If you have a question, do request Before you guys 24 00:01:25.120 --> 00:01:28.840 do that, I'll just read out a few highlights of 25 00:01:28.840 --> 00:01:32.560 the week. I saw inflation, food inflation, headline. Inflation came 26 00:01:32.640 --> 00:01:35.560 down in Nigeria. Let me put it this way, the 27 00:01:35.799 --> 00:01:41.319 rate of growth slowed down in Nigeria, right, So that's 28 00:01:41.599 --> 00:01:44.760 that's promising. We need to see it happen as a 29 00:01:44.799 --> 00:01:47.680 trend line to least celebrated. But I thought I was 30 00:01:48.280 --> 00:01:51.480 news worth that the rate of growth for inflation, but 31 00:01:51.560 --> 00:01:54.439 for food and for the headline had slowed down a bit, 32 00:01:54.760 --> 00:01:57.799 So that was fantastic if we can keep that pace up. 33 00:01:58.159 --> 00:02:00.079 I'm not sure if it has to do with the 34 00:02:00.120 --> 00:02:03.799 guidelines on importation of food. I did see it, and 35 00:02:03.840 --> 00:02:06.719 I think it's all it's a different policy that they're chasing. 36 00:02:06.799 --> 00:02:08.879 I think what they are, what I saw in that 37 00:02:08.960 --> 00:02:11.960 guidelines for food has more to do with you are 38 00:02:12.000 --> 00:02:15.560 trying to do this the midterm of what the policies 39 00:02:15.639 --> 00:02:20.800 they're trying to say, let's boost local manufacturing, local million 40 00:02:20.840 --> 00:02:24.000 of food product. That's what that policy is. You're bringing 41 00:02:24.000 --> 00:02:28.639 in on HOSK grains, you're bringing the semi processed food 42 00:02:28.719 --> 00:02:32.080 to be processed in Nigeria. That's not really the policy 43 00:02:32.240 --> 00:02:35.680 that I needed right now. There's an immediate need for 44 00:02:35.840 --> 00:02:39.120 food to come in to reduce food prices. That can 45 00:02:39.240 --> 00:02:42.479 happen same with this other parts that they're chasing to say, 46 00:02:42.520 --> 00:02:47.039 we're going to bring in semi processed foods with process 47 00:02:47.039 --> 00:02:50.680 in Nigeria to increase value creation in Nigeria. That's a 48 00:02:50.680 --> 00:02:53.759 separate policy, but I think they are missing the immediate 49 00:02:54.159 --> 00:02:56.800 need of Nigeria's right now, which is food at the 50 00:02:56.840 --> 00:02:59.840 tables right now at the cheap price. Because once you 51 00:02:59.840 --> 00:03:03.520 do that, you able to achieve prices falling, and once 52 00:03:03.599 --> 00:03:07.000 prices fall, inflation falls, and then of course you don't 53 00:03:07.000 --> 00:03:12.639 get that should we say, reduction in overheating of the economy. 54 00:03:12.759 --> 00:03:15.960 You get inflation coming down even helps a NI rap 55 00:03:16.080 --> 00:03:19.159 prices fall and you gets a salary increase for everyone. 56 00:03:19.479 --> 00:03:21.319 So just to put that, put that out there a 57 00:03:21.319 --> 00:03:23.800 little bit higher. I see you on space Mutan and 58 00:03:23.919 --> 00:03:26.240 just muting yourself that we can go ahead of have 59 00:03:26.280 --> 00:03:27.080 a few dams already. 60 00:03:29.879 --> 00:03:34.120 L great to be on your shoe. Interesting conversations. 61 00:03:34.360 --> 00:03:38.960 Actually, it was just just to add two spices already 62 00:03:39.840 --> 00:03:40.199 put in. 63 00:03:40.680 --> 00:03:41.719 I think it's also been. 64 00:03:41.639 --> 00:03:46.919 An except exciting and eventful week in your market. You know, 65 00:03:47.039 --> 00:03:55.599 the much talked about you know kick this week, we 66 00:03:55.759 --> 00:04:00.319 had some around it and just breaking your is that 67 00:04:00.719 --> 00:04:04.879 the charpaitizing director. So the worses that about to billon 68 00:04:05.639 --> 00:04:08.000 dollars will be raised, that's the plan. 69 00:04:09.960 --> 00:04:13.400 Also we look at the banks. We saw that the 70 00:04:13.439 --> 00:04:14.960 banks were really picking. 71 00:04:14.719 --> 00:04:16.879 Up from uh July. 72 00:04:16.839 --> 00:04:21.879 Lows, particularity first UB and other systemic panks. 73 00:04:22.519 --> 00:04:25.160 But you know the gt SK the. 74 00:04:25.279 --> 00:04:29.480 Act that was supposed to be that was called the act, 75 00:04:29.040 --> 00:04:31.759 but the banks was in the act. 76 00:04:32.199 --> 00:04:35.199 Was the doing issue. I think he pattered. 77 00:04:35.000 --> 00:04:38.000 So much posts in the on social media, but the 78 00:04:38.040 --> 00:04:40.680 stock presently has he yet to date. 79 00:04:40.800 --> 00:04:43.000 Again of more than thirteen percent. 80 00:04:43.079 --> 00:04:44.639 It's the best performing bank stock. 81 00:04:45.199 --> 00:04:51.279 Uh. The result AMANDU stowing down after running so fast 82 00:04:51.360 --> 00:04:53.480 it would looked like it was going to put the dinner. 83 00:04:53.959 --> 00:04:56.959 He had to come back down as well as petty 84 00:04:57.439 --> 00:04:59.439 le plus before eating apples. 85 00:04:59.160 --> 00:05:01.759 To define so they started room right. 86 00:05:01.680 --> 00:05:02.560 Now with you was bigger. 87 00:05:03.360 --> 00:05:06.600 We're seeing the fact that also dinners to have settled 88 00:05:06.879 --> 00:05:09.759 betweenty one thousand and five fifty and what so Yeah, 89 00:05:10.000 --> 00:05:13.560 just to put the serving. I think what the market 90 00:05:13.680 --> 00:05:19.079 has seen this week is that the physical ancessity also 91 00:05:19.160 --> 00:05:24.000 explained a key role of the market inficially reported didn't 92 00:05:24.160 --> 00:05:28.800 to go to world with manufacturing and consumers tables, just 93 00:05:28.839 --> 00:05:32.279 by the fact that in moortuation you rest still believe 94 00:05:32.360 --> 00:05:37.240 that it's still pretty much high for these bottom nine 95 00:05:37.279 --> 00:05:38.800 companies to make it different. 96 00:05:38.600 --> 00:05:40.480 So that's some you know see it? 97 00:05:40.879 --> 00:05:43.040 Well, no, no, that's let's let's do let's do that 98 00:05:43.240 --> 00:05:47.439 GT Bank issue quickly. So there was like an issue 99 00:05:47.480 --> 00:05:50.800 with their online banking. I saw online people said it 100 00:05:50.959 --> 00:05:54.040 was it was a was a hack, and I think 101 00:05:54.079 --> 00:05:57.759 I saw a telecom paper come out and say, what's 102 00:05:57.759 --> 00:06:00.079 in a hack? That they didn't pay on time? The 103 00:06:00.160 --> 00:06:02.759 letter I saw a guy still not only paid on time, 104 00:06:03.360 --> 00:06:05.600 it's not our hat, but they paid on time. So 105 00:06:05.800 --> 00:06:08.319 I mean, for me as an infestor broad strokes, does 106 00:06:08.360 --> 00:06:10.240 this have any effect on the bank stock? Should I 107 00:06:10.319 --> 00:06:12.040 be worried about my deposit in that bank? 108 00:06:14.680 --> 00:06:16.680 So look at the price. 109 00:06:16.759 --> 00:06:19.519 Actually what the market is saying, not from our perspective, 110 00:06:19.519 --> 00:06:22.680 what the market was saying. The markets pretty much didn't 111 00:06:22.759 --> 00:06:26.079 take it too much and out for many reasons. 112 00:06:26.120 --> 00:06:27.959 If you look at what happened when the way for 113 00:06:28.160 --> 00:06:29.160 that came into play. 114 00:06:29.920 --> 00:06:33.879 The market aggressively felt that that was going to eat 115 00:06:34.040 --> 00:06:36.680 the bank spot of land you know, some word for that, 116 00:06:36.959 --> 00:06:39.920 you know, you know how e FX is played a 117 00:06:40.120 --> 00:06:43.319 major role knowing for the world that the Nigerian economy 118 00:06:43.959 --> 00:06:47.319 is not giving the banks. 119 00:06:47.120 --> 00:06:49.759 Their core march is busy. 120 00:06:49.759 --> 00:06:54.480 I'm talking of lends, lending, you know, so the wind 121 00:06:54.519 --> 00:06:57.360 for that's had his stronger effect. But if you look 122 00:06:57.360 --> 00:07:02.639 at the case of the art acrevention, first people say the. 123 00:07:03.000 --> 00:07:07.360 Users answers to their albs. It's created definitely created. 124 00:07:07.120 --> 00:07:11.120 Suppose around the fact that the bank can't take hold 125 00:07:11.199 --> 00:07:15.279 of their domain. And yeah, concerts, but now customers that 126 00:07:15.480 --> 00:07:16.959 was bridged according to the bank. 127 00:07:17.519 --> 00:07:19.000 And I think I used the bank. 128 00:07:19.120 --> 00:07:22.480 And if you look at the stock, like you mentioned, 129 00:07:22.879 --> 00:07:25.759 I was looking at the forty five mark and it 130 00:07:26.000 --> 00:07:27.439 is a very interesting stock. 131 00:07:27.199 --> 00:07:29.160 For those that don't really understand the stock. 132 00:07:29.600 --> 00:07:32.040 This is the most valuable bank in the country, has 133 00:07:32.079 --> 00:07:32.920 the market a couple. 134 00:07:32.720 --> 00:07:34.360 Of one point five trillions there. 135 00:07:34.920 --> 00:07:38.040 He also has systemic players. This stock is exposed in. 136 00:07:38.040 --> 00:07:42.360 The London Stock Exchange vi GTR, so we have investments 137 00:07:42.600 --> 00:07:45.800 that are not the shaky guys like depending on. 138 00:07:45.839 --> 00:07:50.439 We doing the stuff. So it was very normal for 139 00:07:50.639 --> 00:07:51.639 us not to see. 140 00:07:51.399 --> 00:07:56.319 A reaction social media from who at the normal At 141 00:07:56.319 --> 00:07:57.000 the normal. 142 00:07:56.759 --> 00:07:59.120 Mark like the United States, you're going to see a reaction. 143 00:07:59.279 --> 00:08:01.480 The difference between that just decided that you have stock 144 00:08:01.519 --> 00:08:03.720 market is that we have over. 145 00:08:03.680 --> 00:08:08.319 One fifteen million Americas actively or passively exposed with the 146 00:08:08.600 --> 00:08:09.240 stock market. 147 00:08:10.000 --> 00:08:12.040 Makes it very efficient in Nigeria. 148 00:08:12.519 --> 00:08:16.079 Last yes, yes, data said that we have all a 149 00:08:16.160 --> 00:08:21.800 thousand active accounts that two party level this year maybe 150 00:08:21.920 --> 00:08:25.199 double so Calu, we see the difference that we have 151 00:08:25.399 --> 00:08:26.399 with strong bias. 152 00:08:26.720 --> 00:08:29.399 So yeah, the market should have reacted maybe if it was. 153 00:08:30.639 --> 00:08:31.959 I think the big point is that. 154 00:08:32.120 --> 00:08:35.120 This is not something that would telling. 155 00:08:36.840 --> 00:08:42.039 About gotcha only bit overall like another querson, I get 156 00:08:42.159 --> 00:08:44.600 this overall the windfall tax that is going to be 157 00:08:44.600 --> 00:08:47.320 applied to nigerm banks, is that going to be I 158 00:08:47.399 --> 00:08:51.919 mean net systematic negative to the Nigerian banking off us? 159 00:08:52.000 --> 00:08:54.320 I mean we have Is that going to be an 160 00:08:54.399 --> 00:08:56.320 issue that there's going to be a one time tax 161 00:08:56.360 --> 00:08:58.639 and get just to explain, this is a tax or 162 00:08:58.720 --> 00:09:03.120 realized profits, so the bank does not realize those effects 163 00:09:03.159 --> 00:09:05.279 gainst they don't pay any tracks. Is that going to 164 00:09:05.320 --> 00:09:06.720 be a problem overall. 165 00:09:07.279 --> 00:09:10.279 Galuative big problem in fact the issue. 166 00:09:10.519 --> 00:09:15.200 Honestly, that's why when the news came out first, because 167 00:09:15.960 --> 00:09:19.679 just for this stastic I'm exposed to all the distant 168 00:09:19.720 --> 00:09:22.759 banks nager I try them not just for investment purposes, 169 00:09:22.840 --> 00:09:25.639 but because I write lives, so I tried to understand 170 00:09:26.039 --> 00:09:30.519 the top. So when the news came out, we didn't 171 00:09:30.600 --> 00:09:35.000 two weeks my banking stock portfolio was down by more 172 00:09:35.080 --> 00:09:38.679 than fifteen percent. And if you look at ub at 173 00:09:38.759 --> 00:09:41.879 first Pack at that time, they were going to sure 174 00:09:42.639 --> 00:09:46.120 at some point you be a dropped blue That tells 175 00:09:46.120 --> 00:09:47.519 you how I. 176 00:09:48.200 --> 00:09:52.159 How the new scheme had on bank vestors. 177 00:09:52.799 --> 00:09:57.080 For me, I don't see why that come to like 178 00:09:57.200 --> 00:09:59.080 do some banks came to bed If you look at 179 00:09:59.120 --> 00:10:01.240 first Bank, some put first Bank. 180 00:10:01.440 --> 00:10:03.879 Posting FX cluses for a while. 181 00:10:04.000 --> 00:10:08.480 So he don't it don't seem to be exposed to 182 00:10:08.600 --> 00:10:11.000 that being for that and that was why pretty that 183 00:10:11.120 --> 00:10:14.000 was why pa I said that that I was in 184 00:10:14.120 --> 00:10:19.360 support because he understands the banks balance and when they 185 00:10:19.399 --> 00:10:21.799 are closures. But for a bank like you is an 186 00:10:21.879 --> 00:10:25.840 ergity definitely to be a concern you when. 187 00:10:25.480 --> 00:10:28.279 You look at as the results it was definitely a concern. 188 00:10:28.360 --> 00:10:31.240 So it's really hit they put on banks, and that's 189 00:10:31.279 --> 00:10:32.039 why at some. 190 00:10:32.120 --> 00:10:34.360 Point the bark in the text was the worst performing 191 00:10:35.039 --> 00:10:35.440 this year. 192 00:10:35.840 --> 00:10:39.799 So at disappoint like you said, I perform fidating that 193 00:10:39.919 --> 00:10:40.519 really surprise. 194 00:10:40.600 --> 00:10:46.399 The market started their producer long before many banks. They 195 00:10:46.399 --> 00:10:49.039 were actually the first. So the fact that they raised 196 00:10:49.120 --> 00:10:55.679 their phones beyond back expectation that was implosed. But when 197 00:10:55.759 --> 00:10:56.440 you hate a. 198 00:10:56.519 --> 00:10:59.960 Bank like assets bank accent take for extension. 199 00:11:00.159 --> 00:11:04.480 Using the sqs of unrest, you know that there's more to. 200 00:11:05.200 --> 00:11:08.960 That mystic high So I think definitely it has an 201 00:11:09.000 --> 00:11:14.320 impact on recaptiation plan the future ending. 202 00:11:14.399 --> 00:11:17.519 So despite the fact that we have some of the. 203 00:11:18.240 --> 00:11:21.600 RODS supports, you know, the optics around capping banks in 204 00:11:21.799 --> 00:11:26.559 the era CRRs for five percent where the industry is everywhere, 205 00:11:26.840 --> 00:11:30.320 did know something restors to clear? 206 00:11:31.440 --> 00:11:33.440 Yeah. So I mean the point again is then again again, 207 00:11:33.919 --> 00:11:36.639 if I'm raising, if I'm raising money, or if I 208 00:11:36.679 --> 00:11:38.799 want to invest in the bank, I look at two 209 00:11:38.879 --> 00:11:41.480 questions and I ask myself the money the bank is raising, 210 00:11:41.519 --> 00:11:44.759 is it going to go into existing structure? I will 211 00:11:44.840 --> 00:11:48.519 my money allowed the bank to raise more earnings or 212 00:11:48.559 --> 00:11:51.360 will my money create the base for the bank to 213 00:11:51.480 --> 00:11:54.440 earn more. Should we say more? And so for instance, 214 00:11:54.519 --> 00:11:57.120 if I was bank eight, if I give them money, 215 00:11:57.120 --> 00:12:00.480 they're gonna buy more branches and they're gonna buy more ATMs, 216 00:12:00.519 --> 00:12:03.200 which allowing them to make more money. Or am I 217 00:12:03.320 --> 00:12:07.039 giving them money for already established branches in case my 218 00:12:07.159 --> 00:12:10.159 phone's going to use their cost of capital? Let me 219 00:12:10.360 --> 00:12:14.000 ask a question rightly, if they raise, if they tax them, 220 00:12:14.080 --> 00:12:17.759 now that's a tax in twenty twenty three, twenty four, 221 00:12:18.360 --> 00:12:21.440 does that imply that going forward that affects my bank's 222 00:12:21.480 --> 00:12:23.919 abiled to make ending This is a one time thing. 223 00:12:24.159 --> 00:12:27.440 There's a one time tax, but the income was also 224 00:12:27.639 --> 00:12:29.799 one time. I don't know if you get my question. 225 00:12:30.320 --> 00:12:33.720 The income is one time, the taxes one time. Doesn't 226 00:12:33.759 --> 00:12:35.639 that even it out? And then we look at anything's 227 00:12:35.679 --> 00:12:38.480 going forward without this tax questionable. 228 00:12:38.360 --> 00:12:40.440 Because it's not into law. 229 00:12:40.519 --> 00:12:44.399 Ye, there's twos some stoppers around Thebut and listen to 230 00:12:45.000 --> 00:12:49.639 a large parallel on the group of FSB and I've 231 00:12:49.679 --> 00:12:54.039 seen specially of different reports. They're saying that you actually 232 00:12:54.159 --> 00:12:58.080 start next year, that the Senates and the fact that 233 00:12:58.919 --> 00:12:59.600 that next year. 234 00:13:00.200 --> 00:13:03.039 Use the format that it seems to be unfair you 235 00:13:03.159 --> 00:13:07.000 don't really look use like you said, definitely have an effect. 236 00:13:07.240 --> 00:13:11.759 You look at senate objective. Senate objective is an expansion. 237 00:13:12.080 --> 00:13:15.919 They're talking about expanding a branding barrier in France because 238 00:13:15.960 --> 00:13:18.679 of the facle phone countries like CAMEROONA to goal, so 239 00:13:18.840 --> 00:13:22.159 they're looking at markets other spaceially look at GITT also, 240 00:13:22.639 --> 00:13:26.279 this is also looking at expansion through the IT infrastructure. 241 00:13:26.480 --> 00:13:30.240 They're looking at also bringing new businesses to their bottom line. 242 00:13:30.480 --> 00:13:34.440 But for me to be honest with you, because our 243 00:13:34.679 --> 00:13:37.440 own g T for many years now and GIT already 244 00:13:37.480 --> 00:13:41.000 goes beyond there. So usually what I do is that 245 00:13:41.200 --> 00:13:42.679 when I c GT between the. 246 00:13:42.759 --> 00:13:46.360 Price is traded and at the prices I resually itself 247 00:13:46.440 --> 00:13:52.159 have wait followers. So in ndender as displaying them, it 248 00:13:52.320 --> 00:13:55.679 hasn't happened back to come to benest with you. But 249 00:13:55.960 --> 00:13:58.639 if you look at their two banks a f c MP, 250 00:13:59.240 --> 00:14:03.559 we look at bidity, you look at telling. These banks 251 00:14:04.039 --> 00:14:07.799 often time have been able to generate more al fast 252 00:14:08.200 --> 00:14:10.320 than the one banks and that's. 253 00:14:10.200 --> 00:14:13.399 Because there's so much from to grow and you know 254 00:14:13.720 --> 00:14:15.039 they're really experienced from many. 255 00:14:15.360 --> 00:14:20.600 So look at for example, they're expanding getting cauto credits 256 00:14:20.919 --> 00:14:28.000 from bests expanding to medium skill businesses and field entrepreneurs 257 00:14:28.159 --> 00:14:31.200 trying to put in export business to that line tho, 258 00:14:31.240 --> 00:14:31.440 just to. 259 00:14:31.559 --> 00:14:34.240 Create in which that space. You also look at starting 260 00:14:34.360 --> 00:14:36.679 look at the first tructure around the it. 261 00:14:38.159 --> 00:14:40.759 These banks we can really pick, but I think what 262 00:14:40.960 --> 00:14:43.879 the dur is like at some point with the government 263 00:14:44.080 --> 00:14:45.240 looks like harming on. 264 00:14:45.320 --> 00:14:46.240 The parking industry. 265 00:14:46.240 --> 00:14:48.080 It feels that they wanted to merge. 266 00:14:48.559 --> 00:14:50.120 It seems like you look at what is happening. 267 00:14:50.159 --> 00:14:55.120 The Providos are unity government deal right, but remember a 268 00:14:55.159 --> 00:14:57.519 long time of this rumor that Providence was going to 269 00:14:57.639 --> 00:15:01.000 feel or going to feel and the we are let 270 00:15:01.120 --> 00:15:02.960 them feel like. It's like, what's happening now that receiving 271 00:15:03.039 --> 00:15:06.200 is preventing the backstop. So if I'm an investor, I 272 00:15:06.559 --> 00:15:09.559 know that the siping is providing equity into those banks 273 00:15:09.840 --> 00:15:12.399 so I can buy. It's not that that's what's happening 274 00:15:12.720 --> 00:15:15.279 to those banks to give it the capital to your 275 00:15:15.320 --> 00:15:17.799 won't feel before you go too far. I just want 276 00:15:17.840 --> 00:15:22.440 to clarify the FNBC. You said only ten percent of 277 00:15:22.519 --> 00:15:25.639 the banks for X games H. So this point that 278 00:15:25.960 --> 00:15:28.919 iterates tax, which means you've got to literally a lie 279 00:15:29.000 --> 00:15:32.679 that tax. So if the naira gets if gets strung, 280 00:15:33.320 --> 00:15:35.799 that tax upon falling and Narra goes to say two 281 00:15:35.919 --> 00:15:38.440 hundred to moller, the tax keeps on with U sain 282 00:15:39.440 --> 00:15:42.519 right there. So the number maybe you realize that game. 283 00:15:42.600 --> 00:15:45.840 So what I mean is this, if you bought your 284 00:15:45.879 --> 00:15:49.000 dollar at a thousand and the dollar was twelve hundred, 285 00:15:49.519 --> 00:15:53.279 that two hundred dollars naira is what they're taxing. So 286 00:15:53.399 --> 00:15:56.799 in effect, if that becomes one thousand, the tax evaporates more. 287 00:15:56.840 --> 00:15:58.639 Or let's just want to make that put that point 288 00:15:58.679 --> 00:16:03.000 out there very true. Okay, let's let's get zero in 289 00:16:03.120 --> 00:16:05.320 here that maybe he has a question that we'll come 290 00:16:05.360 --> 00:16:09.639 back to them the zero equipment you've got the floor, Yeah, 291 00:16:14.039 --> 00:16:14.600 I can hear you. 292 00:16:16.120 --> 00:16:18.519 Okay, this my. 293 00:16:20.399 --> 00:16:23.600 I'm just going to talk about bones because it's. 294 00:16:23.480 --> 00:16:24.159 On the topic. 295 00:16:24.320 --> 00:16:28.039 Is like just the white like you're sharing my tots 296 00:16:28.039 --> 00:16:33.399 on it. I think any investor here listening would be 297 00:16:34.559 --> 00:16:39.919 before you shoe would would might might want to get 298 00:16:40.080 --> 00:16:44.679 more fixed income into but too, equities are good, but 299 00:16:44.799 --> 00:16:51.000 that's like a long term play. Why because well, the 300 00:16:51.159 --> 00:16:54.399 fundamentals that should support. 301 00:16:54.200 --> 00:17:03.320 Equity companies listen on the market still are around as as. 302 00:17:03.679 --> 00:17:07.359 As solid as I would like to see and even 303 00:17:07.400 --> 00:17:11.400 though their companies are driving just some maple headings. 304 00:17:13.799 --> 00:17:15.440 What what what fix it come? 305 00:17:15.480 --> 00:17:15.839 Do you like? 306 00:17:16.559 --> 00:17:18.559 Now we have the dollar fixed income, we have the 307 00:17:18.640 --> 00:17:20.160 narrow fixic com which won't you like? 308 00:17:20.319 --> 00:17:24.160 Especially I like food, actually I like good. 309 00:17:24.240 --> 00:17:29.839 I like dollar, but because well the narror is easier 310 00:17:29.920 --> 00:17:33.799 to get into MP the dollar, I think it's thanky 311 00:17:34.680 --> 00:17:35.720 to minimum. 312 00:17:36.200 --> 00:17:40.000 So that's mostly for and you know people. 313 00:17:41.559 --> 00:17:43.559 Yeah, so just to qualify to put for listen. In 314 00:17:43.640 --> 00:17:47.720 Nigeria wants to issue a dollar denominated bond, first time 315 00:17:47.759 --> 00:17:51.119 in the Nigera's history. We have Euro bonds, but those 316 00:17:51.200 --> 00:17:54.480 are dollar dominated outside Nigeria. This is going to be 317 00:17:54.559 --> 00:17:57.880 a dollar issue debt in Nigeria, meaning if you have 318 00:17:58.079 --> 00:18:01.119 dollar in Nigeria, you can take your dollar to the 319 00:18:01.240 --> 00:18:04.799 bank and buy a dollar bond and you get dollar dividends. 320 00:18:05.319 --> 00:18:12.359 So in effect, dollar rise in quote the niger investment space. 321 00:18:12.400 --> 00:18:13.119 But please go ahead. 322 00:18:14.400 --> 00:18:18.680 Yeah, so I like the US bond for obvious reasons 323 00:18:18.720 --> 00:18:22.000 because if I had tank, if I was I mean 324 00:18:22.559 --> 00:18:27.039 as age and I lying around or just like say, 325 00:18:27.039 --> 00:18:30.920 I'm saving it in my dum account, it makes sense for. 326 00:18:31.000 --> 00:18:31.279 Me to. 327 00:18:32.759 --> 00:18:35.519 From my point of you, to put it in the 328 00:18:35.640 --> 00:18:39.160 dollar bment. You know at least two generalium income. 329 00:18:39.319 --> 00:18:41.480 That's the attraction, right, that's the attraction. 330 00:18:42.079 --> 00:18:45.720 Yeah, but also concerned that I do have. 331 00:18:46.000 --> 00:18:48.160 So I don't want anyone here thinking that I'm. 332 00:18:48.119 --> 00:18:52.960 Just saying the novice and they're seteen concerns. Number one 333 00:18:53.079 --> 00:18:54.119 perception and trust. 334 00:18:54.200 --> 00:18:57.599 I think in this five hundred dollars is wing like you. 335 00:18:57.720 --> 00:19:03.880 Need to settle the engineents to key into it. Besides yeah, 336 00:19:04.160 --> 00:19:10.960 agianized and corporations locally, and because that's someone in the US, 337 00:19:10.960 --> 00:19:14.440 for example, if she looks at the US treasuries and 338 00:19:14.640 --> 00:19:20.720 looks at US bonds, you bones should be higher. 339 00:19:21.279 --> 00:19:24.759 So it's almost like the same thing. But just as 340 00:19:24.799 --> 00:19:27.880 a favor or any more attractives. 341 00:19:28.160 --> 00:19:30.319 I mean, make make it, make its plain. If you 342 00:19:30.400 --> 00:19:32.759 invest in in the US bond today you get three 343 00:19:32.799 --> 00:19:36.279 to four percent, but it's guaranteed and the US would 344 00:19:36.319 --> 00:19:39.000 not default to the US do not cancel their bond. 345 00:19:39.319 --> 00:19:42.279 I think the fear I've heard for before asking me 346 00:19:42.400 --> 00:19:45.279 questions calo with Nigeria, pay calu with. They say you're 347 00:19:45.319 --> 00:19:47.680 going to bring up everybody is scared that the government 348 00:19:47.720 --> 00:19:49.720 will come to tomorrow and bring one new law and 349 00:19:49.799 --> 00:19:51.480 this is the problem with this rule of law. When 350 00:19:51.519 --> 00:19:55.119 we say rule of law the government, it comes across us. 351 00:19:55.240 --> 00:19:57.519 They might wake up tomorrow and say, Okay, all these 352 00:19:57.559 --> 00:19:59.400 dollar you guys have invested were going to tax it. 353 00:19:59.720 --> 00:20:02.559 And that's the problem with going back to do retroactive 354 00:20:03.160 --> 00:20:07.480 or one sided policy that people don't trust you. They 355 00:20:07.839 --> 00:20:10.759 invest the dollar bond, you might comfort tomorrow and say, hey, 356 00:20:11.079 --> 00:20:13.559 dollar interest is going to be taxed. I don't know, 357 00:20:13.960 --> 00:20:14.960 but yeah, that's. 358 00:20:16.319 --> 00:20:19.319 What I kept about because it was like, if you 359 00:20:19.319 --> 00:20:23.440 look at the lower yeah I have I have exposure 360 00:20:23.519 --> 00:20:27.279 and governments bonds and pretty much because. 361 00:20:27.000 --> 00:20:31.559 I got them. A feather a leg says now I 362 00:20:31.680 --> 00:20:34.720 was going to two thousand and two. I think the 363 00:20:34.799 --> 00:20:39.000 series bond was giving it to twenty pizen. My objective 364 00:20:39.079 --> 00:20:41.920 tam was just to read min applications. 365 00:20:41.839 --> 00:20:45.640 Back home, So I think you see the question for 366 00:20:45.759 --> 00:20:48.920 me is like the go for example, looking at their 367 00:20:49.079 --> 00:20:52.400 palance sheet and looking at yeah it has it's a 368 00:20:52.559 --> 00:20:56.119 good concept, good but like you said, it's very it's 369 00:20:56.160 --> 00:20:58.519 easy for the government to pay back to there, but 370 00:20:58.759 --> 00:20:59.359 in dollars. 371 00:20:59.799 --> 00:21:01.759 That's another bobbing for me. 372 00:21:01.839 --> 00:21:05.640 So if I'm going to be exposed to I'm going 373 00:21:05.720 --> 00:21:07.359 to be very very conscious to do. 374 00:21:07.920 --> 00:21:10.039 You know, I look at what my hero account is 375 00:21:10.079 --> 00:21:10.400 giving me. 376 00:21:10.640 --> 00:21:12.240 First, I'm getting. 377 00:21:12.000 --> 00:21:15.880 Two pointed seven per year. I'm looking at water Backleazy 378 00:21:16.359 --> 00:21:19.480 is giving me. I'm getting about three percent. So it 379 00:21:19.559 --> 00:21:22.000 looks like it felty because it decaid it's going to 380 00:21:22.160 --> 00:21:26.000 be packed around the ero board yield. And when you 381 00:21:26.039 --> 00:21:28.640 look at what he take, that's around. 382 00:21:28.400 --> 00:21:29.359 Like nine percent. 383 00:21:30.440 --> 00:21:34.440 But the question is, just like you said, the compiles, 384 00:21:34.559 --> 00:21:39.200 the rule of law, the application, the the. 385 00:21:39.519 --> 00:21:44.079 Environmental Let's let's dive deeper into this, right, if Nigeria 386 00:21:44.200 --> 00:21:47.000 bruise a dollar, how do they pay a dollar? It's 387 00:21:47.039 --> 00:21:49.119 going to be from oil sales. It's going to be 388 00:21:49.279 --> 00:21:52.000 from because now it's not remutans. They don't own remitan, 389 00:21:52.279 --> 00:21:55.559 So it's going to be oil sales and exports. It's 390 00:21:55.640 --> 00:22:03.359 not going to be an NPC Okay. So so essentially 391 00:22:03.599 --> 00:22:05.839 saying that if we if you buy a bond, they 392 00:22:05.920 --> 00:22:11.000 repaymentally come from oil and non oil exports. We can't 393 00:22:11.039 --> 00:22:14.640 do remittances or sales, right, we can't because and we've 394 00:22:14.680 --> 00:22:16.519 taken most of the oil to to n n p 395 00:22:16.640 --> 00:22:20.880 s and NPC is now has sort of borrowed forward 396 00:22:21.000 --> 00:22:24.440 sales of crude oil, so Ford seas of crude oil 397 00:22:24.480 --> 00:22:27.960 to affects in bank is happening. We also have forward 398 00:22:28.119 --> 00:22:31.720 swaps with JP Morgan and City Bank already happening. So 399 00:22:32.440 --> 00:22:37.839 the fallage that we haven't paid trip point five billion 400 00:22:37.839 --> 00:22:40.839 dos haven't paid. So essentially, I really want to see 401 00:22:40.920 --> 00:22:43.599 the is he a ring fenced effects we've seen this 402 00:22:43.720 --> 00:22:48.000 ring fenced effects? Or are we refinancing the obligations with 403 00:22:48.119 --> 00:22:52.279 this dollar bond, in which case we're refinancing maybe the NNPC, 404 00:22:53.279 --> 00:22:56.440 the whatever with this dollar bond to reduce the cost. 405 00:22:56.480 --> 00:22:58.319 So but if you say that you already said we're 406 00:22:58.359 --> 00:23:01.640 boring at Euro if are born at Euro, there's it's 407 00:23:01.680 --> 00:23:06.559 not a It's not a refinancing, is it. So I'm 408 00:23:06.640 --> 00:23:09.119 getting let's see the paper. But I'm not saying, man, 409 00:23:09.240 --> 00:23:14.839 it looks h I like it. I liked I like 410 00:23:14.920 --> 00:23:16.960 the concept that I get that we do it because 411 00:23:17.000 --> 00:23:19.640 ben A Republic just beside us. Better Republic launched a 412 00:23:19.799 --> 00:23:23.119 five hundred million dollar bond and it was oversubscribed, and 413 00:23:23.240 --> 00:23:26.480 of course Benner is targeting Nigerian investors. The target is 414 00:23:26.880 --> 00:23:30.640 there's about ten to twenty billion dollars sitting in dorm 415 00:23:30.680 --> 00:23:34.680 account doing nothing. So I think rather than just keep 416 00:23:34.720 --> 00:23:38.000 the ten people did the ideas that they can entice 417 00:23:38.319 --> 00:23:40.160 them account to do. It means you bring out ten 418 00:23:40.240 --> 00:23:42.920 percent and you're invested in the love bond. They've made 419 00:23:42.960 --> 00:23:43.839 their money in the lock bond. 420 00:23:43.920 --> 00:23:49.240 Right, what talk is that big boys now or usually 421 00:23:49.319 --> 00:23:51.880 a dollar's particularly in the investment markets. 422 00:23:51.880 --> 00:23:55.079 So if you look at nows to, look at Sparmig, look. 423 00:23:54.920 --> 00:23:57.519 At because I've been able to do my sorgy. 424 00:23:57.640 --> 00:24:02.119 If you look at the good of stam gig asset management, 425 00:24:02.480 --> 00:24:05.119 the dollar dollar exposure. 426 00:24:04.720 --> 00:24:05.559 Did so much different. 427 00:24:05.960 --> 00:24:08.880 They increased to the rates you get, for example, with 428 00:24:09.079 --> 00:24:13.319 investing dollar moneyment and silk cocer moneymer you get about 429 00:24:14.200 --> 00:24:17.000 a game. But in gy in most old for a 430 00:24:17.079 --> 00:24:17.680 minimum of what. 431 00:24:17.799 --> 00:24:20.920 It is and you get goes through. So we have 432 00:24:21.200 --> 00:24:23.519 banks are already putting that into prey. And that is 433 00:24:23.559 --> 00:24:24.480 why I'm a bit. 434 00:24:24.599 --> 00:24:27.680 Bits were like, okay, banks are already eating into the pie, 435 00:24:27.759 --> 00:24:32.319 already invest where banks are already posishing themselves. We did 436 00:24:32.440 --> 00:24:34.720 really get that two billion in the long. 437 00:24:34.599 --> 00:24:36.160 Term, I don't think so. 438 00:24:36.319 --> 00:24:38.160 But just like you said, it's a good. 439 00:24:38.000 --> 00:24:42.680 Idea, we cando tell how G that that's where I 440 00:24:42.759 --> 00:24:46.880 react to because definitely we have long swarm of capital 441 00:24:47.200 --> 00:24:51.319 among these people, particularly in western country, so if they 442 00:24:51.680 --> 00:24:54.680 really huge interest, the difference to be both. The problem 443 00:24:54.759 --> 00:24:57.559 we have in THEGIA, like we don't have in many 444 00:24:57.599 --> 00:25:01.559 in financial capitals, is that are emb don't do their 445 00:25:01.720 --> 00:25:05.680 jobs rather than play that around. You know, if we 446 00:25:05.880 --> 00:25:11.119 had publicized this larger prospect prospect to this year, trust me, 447 00:25:11.480 --> 00:25:12.880 they think that could have been awesome. 448 00:25:13.200 --> 00:25:17.279 So that's another problem. How many likes as as a way. 449 00:25:17.160 --> 00:25:22.119 That we have So but would you I mean we 450 00:25:22.279 --> 00:25:25.480 had we had a protest match last week, I don't 451 00:25:25.480 --> 00:25:28.839 think anything government would have actually sold bonds when people 452 00:25:28.920 --> 00:25:30.720 on the streets saying that they want the government to 453 00:25:30.880 --> 00:25:34.240 quote unquote live or be changed or too. So it's 454 00:25:34.359 --> 00:25:36.839 bad timing to to sell that bond or to do 455 00:25:36.920 --> 00:25:39.599 a road show. Even the road show was very very muted. 456 00:25:39.680 --> 00:25:41.599 I know I published the pole are telling me show 457 00:25:41.640 --> 00:25:45.400 me proof. You should didn't believe that this what's happening, 458 00:25:46.079 --> 00:25:49.319 Show me proof is happening. Such a bond, it's the 459 00:25:49.599 --> 00:25:52.480 landmark bond. Is the first time that has told it 460 00:25:52.559 --> 00:25:55.200 should have been all over the waves and it should 461 00:25:55.319 --> 00:25:58.279 explain this is the thing again, explain to people what 462 00:25:58.400 --> 00:26:01.759 it is. It's the new thing. It's the dollar bond. 463 00:26:02.119 --> 00:26:05.559 It's the hedge of inflation. You invest in dollar, you 464 00:26:05.680 --> 00:26:07.720 get paid back in dollar. There are many folks that 465 00:26:07.839 --> 00:26:10.079 have five hundred dollars. So if you come together and 466 00:26:10.200 --> 00:26:12.599 you buy a dollar bond at ten thousand dollars, you 467 00:26:12.880 --> 00:26:16.000 can get your returns back in dollar. It's a good head. 468 00:26:16.119 --> 00:26:18.920 It's a very very good scheme if the government would abide. 469 00:26:18.960 --> 00:26:22.359 And I think the government has never failed on any 470 00:26:22.480 --> 00:26:26.880 securitized debt since Nigera was created. Any securitized debt, they 471 00:26:26.920 --> 00:26:32.000 don't fail to repay. So limit Yeah, because. 472 00:26:34.039 --> 00:26:38.119 People and you know about Joseph that you know this 473 00:26:38.759 --> 00:26:40.480 back we could not be some applications. 474 00:26:40.480 --> 00:26:43.680 That's what we asked for, but that was securitized, so 475 00:26:43.880 --> 00:26:47.000 they see the point. That's why I said securitized debts. 476 00:26:47.079 --> 00:26:49.200 Most of those loans that we got under a base job. 477 00:26:49.400 --> 00:26:53.480 What happened that Niger borrowed four billion dollars. They refuse 478 00:26:53.559 --> 00:26:58.240 to pay, so the interest was capitalized back to the principal. 479 00:26:58.640 --> 00:27:04.599 So the principal, the principal rose to thirty nine billion, right, 480 00:27:04.640 --> 00:27:16.599 that's what happened. Yeah, all right, look let's let's get 481 00:27:16.720 --> 00:27:19.200 the ox day Tech Oxy Tech. What's up bad Ox 482 00:27:19.240 --> 00:27:19.880 There you've got the floor. 483 00:27:22.559 --> 00:27:23.359 Yes, I'm here. 484 00:27:25.960 --> 00:27:27.039 How are you doing today? 485 00:27:27.880 --> 00:27:29.680 Where doing well? Go ahead, sir, what's happened? 486 00:27:32.079 --> 00:27:34.720 Okay? Yes, not more so. I just wanted to talk 487 00:27:34.759 --> 00:27:39.759 about briefly. They went for times right. 488 00:27:41.000 --> 00:27:41.599 Just like you said. 489 00:27:41.720 --> 00:27:46.519 I read it piece the paper that was written by think. 490 00:27:48.160 --> 00:27:51.200 You know, what I'm trying to rationalis what the government 491 00:27:51.400 --> 00:27:51.799 is doing. 492 00:27:53.240 --> 00:27:56.519 And the concept of it looks like it's double taxing. 493 00:27:56.920 --> 00:27:58.799 Yes, I understand the philosop. 494 00:27:58.359 --> 00:28:02.039 People behind what become mental doing or trying to do that. 495 00:28:02.599 --> 00:28:05.599 They're trying to balance, you know, in deficits in the 496 00:28:05.799 --> 00:28:08.599 one side with the stop plats that have won the 497 00:28:08.839 --> 00:28:12.160 bankses and they were the deficit in the manufacturing in terms. 498 00:28:12.000 --> 00:28:15.079 Of losses people. No, not the clearing coffee you know, 499 00:28:15.920 --> 00:28:17.000 for almost. 500 00:28:16.680 --> 00:28:21.160 Since the three of basically losses for the close office 501 00:28:21.200 --> 00:28:22.079 classes and elsewhere. 502 00:28:22.799 --> 00:28:26.680 So I I actually did the analysis. 503 00:28:26.319 --> 00:28:27.599 Of the T one bands. 504 00:28:27.880 --> 00:28:28.680 I looked up at. 505 00:28:28.599 --> 00:28:31.799 Their financial statements for the DIA three. 506 00:28:32.279 --> 00:28:34.799 I noticed that I think it was most of them 507 00:28:35.640 --> 00:28:37.160 just like you said, I hope most. 508 00:28:37.000 --> 00:28:40.279 Of the bands didn't realize that cofee. So if you 509 00:28:40.319 --> 00:28:42.680 look at their for that comprehensive income, you. 510 00:28:42.680 --> 00:28:43.240 Would see that. 511 00:28:45.200 --> 00:28:47.599 They were They were very imprudent and the way they important, 512 00:28:47.759 --> 00:28:50.039 I think it was only to see that, you know, 513 00:28:50.960 --> 00:28:53.279 that's you know, like they. 514 00:28:53.279 --> 00:28:57.359 Realize the chunk of what they have with their fects for. 515 00:28:59.759 --> 00:29:02.200 As ban you'll be sending. 516 00:29:02.279 --> 00:29:04.079 But they were all very prudent in some. 517 00:29:04.200 --> 00:29:05.759 Sort of the way the important. 518 00:29:06.000 --> 00:29:08.279 Yes, he's sitting on their on their other. 519 00:29:08.279 --> 00:29:09.839 Other convens comports. 520 00:29:10.039 --> 00:29:13.079 Most of people's not real So I am and I 521 00:29:13.200 --> 00:29:16.319 doubt what the government how the government to go about it. 522 00:29:16.359 --> 00:29:18.960 But KPT actually rose against that. 523 00:29:19.240 --> 00:29:21.359 And uh and that's that. 524 00:29:21.559 --> 00:29:22.240 Then coming to. 525 00:29:23.920 --> 00:29:24.519 Commune to the. 526 00:29:26.279 --> 00:29:30.000 Putting my sorry not putting my fixing. 527 00:29:31.200 --> 00:29:35.799 Scurity that the Furthereral government is pushing out, well, I 528 00:29:35.839 --> 00:29:40.559 would say that for me, first, we should all be 529 00:29:40.799 --> 00:29:44.440 very prudent and calculated in doing some of those. 530 00:29:44.440 --> 00:29:45.839 I already know that in Nigeria. 531 00:29:46.400 --> 00:29:47.920 In Nigeria, some asset. 532 00:29:47.640 --> 00:29:50.240 Management companies already have these Gola phones. 533 00:29:50.319 --> 00:29:53.759 They have it in their portfolio. There's some asset monament compute. 534 00:29:53.759 --> 00:29:54.559 They will stand the. 535 00:29:55.880 --> 00:29:58.160 Asset management if you go to so if you go 536 00:29:58.240 --> 00:30:00.119 to some of the products they have, the whole they 537 00:30:00.160 --> 00:30:02.839 have these dollar points running. It's already it's already, so 538 00:30:03.119 --> 00:30:04.839 it is the government trying to flow their own. 539 00:30:04.880 --> 00:30:08.759 Boy, if you're good to quest at the MVM. 540 00:30:08.519 --> 00:30:11.240 Quarest some of this asset migement companies. 541 00:30:10.960 --> 00:30:11.920 Called coronation they all have. 542 00:30:12.000 --> 00:30:14.559 They already have these dollar points running and people are 543 00:30:14.559 --> 00:30:15.519 already fighting too. 544 00:30:16.839 --> 00:30:17.039 Well. 545 00:30:17.119 --> 00:30:21.359 The raised I think the most have they they could have, 546 00:30:21.640 --> 00:30:21.960 I mean. 547 00:30:22.000 --> 00:30:24.680 The best apps and I think eighty six percent between 548 00:30:24.720 --> 00:30:25.559 sixty eight percent. 549 00:30:26.000 --> 00:30:29.400 So it's just I don't know how the government where 550 00:30:29.440 --> 00:30:33.160 they want to taste line the grade for whatever dollar 551 00:30:33.480 --> 00:30:37.440 dollar was it called bonds or treasuries that don't want 552 00:30:37.480 --> 00:30:37.839 to close. 553 00:30:38.240 --> 00:30:40.200 But we all need to be care for for me, 554 00:30:40.319 --> 00:30:40.720 I see it. 555 00:30:41.400 --> 00:30:43.480 I see everybody is a requiverment that I see the reply. 556 00:30:43.559 --> 00:30:47.519 That's a bubble because for the very end, for the 557 00:30:47.599 --> 00:30:52.119 para government disapoints today. If health great investor call for 558 00:30:52.200 --> 00:30:53.920 their counts today, the government will deport. 559 00:30:54.759 --> 00:30:56.359 So if you say that the government who have. 560 00:30:56.440 --> 00:30:59.920 Not reported that the soubeign they already raised that the 561 00:31:00.039 --> 00:31:02.359 government interest rate that the government is still on those 562 00:31:03.079 --> 00:31:04.720 bonds and treasures is quite high. 563 00:31:05.119 --> 00:31:07.880 So if people in half of the people that are 564 00:31:07.920 --> 00:31:10.279 holding those papers for the. 565 00:31:11.000 --> 00:31:12.799 But how how would you call for a paper in 566 00:31:12.839 --> 00:31:14.720 the bond. You can't call for people in the bond 567 00:31:14.720 --> 00:31:15.960 that you can't go to the bank and some my 568 00:31:16.039 --> 00:31:17.920 money back. You can't do that in the bond. 569 00:31:19.680 --> 00:31:23.240 It's I'm talking about Okay, for example, what I'm talking 570 00:31:23.279 --> 00:31:25.319 about treasure. 571 00:31:25.079 --> 00:31:28.720 Views, which are the ninety days you want, you want 572 00:31:28.759 --> 00:31:29.640 into one days. 573 00:31:29.519 --> 00:31:30.559 And they take six two days. 574 00:31:31.000 --> 00:31:34.160 So if after for example, I'm giving I'm looking at 575 00:31:34.160 --> 00:31:35.960 the high pertest, now after the world. 576 00:31:35.839 --> 00:31:38.559 Ranting one days and half of the people that are 577 00:31:38.599 --> 00:31:39.559 holding the. 578 00:31:41.480 --> 00:31:44.880 Treasures disciple for your money interest? 579 00:31:44.960 --> 00:31:46.960 Yeah, but what what you keep you? You you just 580 00:31:47.039 --> 00:31:49.960 reputed again. You can't call for your money in the bond. 581 00:31:50.039 --> 00:31:52.079 Now that's why you're repeating that. You can't. 582 00:31:52.759 --> 00:31:55.440 You know I'm talking I'm talking of I'm talking talking off. 583 00:31:56.720 --> 00:31:57.680 How would you call it back? 584 00:31:59.000 --> 00:31:59.119 Long? 585 00:31:59.359 --> 00:32:00.359 Yeah? How would you live back? 586 00:32:02.039 --> 00:32:04.200 So, so what I mean is when you run out, 587 00:32:04.240 --> 00:32:07.400 when the one eighty days runs out, why the governments 588 00:32:07.640 --> 00:32:10.039 go on. Look you look at my analysis, the governments 589 00:32:10.640 --> 00:32:12.759 all plays have a drop because. 590 00:32:12.799 --> 00:32:15.880 When the one eighty days runs out, people roll roll over. 591 00:32:16.319 --> 00:32:18.440 Nineteen eighteen to thirty five percent. 592 00:32:18.240 --> 00:32:20.759 Of the people who holding this rolls over and get 593 00:32:20.880 --> 00:32:21.599 their upfront. 594 00:32:21.799 --> 00:32:22.640 Interesting pick. 595 00:32:23.000 --> 00:32:25.200 So what I'm saying is that after the one eighteen 596 00:32:25.279 --> 00:32:30.279 days or three sixteen days and fifteen percent of the 597 00:32:30.359 --> 00:32:32.559 people that I holdingly saying I don't want to do it. 598 00:32:32.880 --> 00:32:36.279 Give me my money back, they will prince, They'll they 599 00:32:36.319 --> 00:32:38.440 will print naira and give them my brother. There's no 600 00:32:38.880 --> 00:32:42.079 that's why it stays. Issue are free. For the Narra bonds, 601 00:32:42.240 --> 00:32:44.759 no problem. The issue is the dollar pond. 602 00:32:46.039 --> 00:32:47.960 So I'm bringing that to the dollar now. 603 00:32:48.039 --> 00:32:50.279 So if they will print money and dig there, and 604 00:32:50.359 --> 00:32:50.799 what does. 605 00:32:50.720 --> 00:32:52.680 That do to the economy and edgulation. 606 00:32:53.119 --> 00:32:59.519 Yeah, so that's so, So don't term just that we 607 00:33:00.039 --> 00:33:04.880 are listening. So when you do solvereign bonds, treasuries have 608 00:33:05.039 --> 00:33:08.880 no re issuer risk. So Zimbabwe bonds have the same 609 00:33:09.000 --> 00:33:11.640 risk as US bonds. It's issuar risk. 610 00:33:11.759 --> 00:33:11.920 Right. 611 00:33:12.480 --> 00:33:16.759 So for Nigeria and naira, don't bonds and treasury bills. Yes, 612 00:33:17.079 --> 00:33:19.680 they will print narror and give you, So no problem there. 613 00:33:20.160 --> 00:33:22.880 The wahala is like we said, when very begins a 614 00:33:22.960 --> 00:33:27.119 dollar bond, because we can't bring back dollar. So for 615 00:33:27.279 --> 00:33:30.119 Nayra bonds you are fine. The rates are almost twenty 616 00:33:30.279 --> 00:33:33.000 at last time I saw twenty percent. It won't beat inflation, 617 00:33:33.519 --> 00:33:36.680 but it's for income only. If you're buying a bond 618 00:33:36.759 --> 00:33:40.359 in Nigeria like a Treasury bill or for FGM bond, 619 00:33:40.599 --> 00:33:43.880 you are looking for income from a safe source. These 620 00:33:44.039 --> 00:33:48.680 Nigerian bonds, so solveing bonds are the safest investment in Nigeria. 621 00:33:49.279 --> 00:33:52.000 That's what it's for. So you can't call for the 622 00:33:52.119 --> 00:33:54.720 money back. It's gonna be and they will print narra 623 00:33:54.880 --> 00:33:57.759 and give you. Yes, we get it won't beat inflation. Yes, 624 00:33:58.319 --> 00:34:00.880 the issue I agree with you it is the dollar bond. 625 00:34:01.240 --> 00:34:04.039 If you if you buy dollar bond, niger has got 626 00:34:04.119 --> 00:34:07.319 to generate income to pay you back in effects and 627 00:34:07.440 --> 00:34:09.599 we only then. I've always said that it's only going 628 00:34:09.679 --> 00:34:13.440 to be from experts. We can't count remittances unless they 629 00:34:13.559 --> 00:34:16.400 sell something with they sell five percent of energy and 630 00:34:16.559 --> 00:34:19.519 that's the risk for you. And to your point about 631 00:34:19.599 --> 00:34:21.960 that other banks, are you doing dollar bond? This is 632 00:34:22.000 --> 00:34:24.400 going to be tax free? I read it's going to 633 00:34:24.440 --> 00:34:26.480 be tax free. So if you invest through the federal 634 00:34:26.519 --> 00:34:29.480 government for this bond, I think you will get it's 635 00:34:29.599 --> 00:34:36.119 tax defered or tax free one of them. Yes, that's 636 00:34:36.159 --> 00:34:38.719 what I read. On the on the dollar bond. Correct, 637 00:34:38.760 --> 00:34:44.039 I read it that tax free or yeah, it's there 638 00:34:44.079 --> 00:34:46.119 on the paperwork, so don't say, don't say you don't 639 00:34:46.159 --> 00:34:48.280 think just google it and then it's I think it's 640 00:34:48.320 --> 00:34:50.880 there on the paper that it has some tax benefits. 641 00:34:51.280 --> 00:34:53.960 I'm not sure if it's tax defered or tax exempt, 642 00:34:54.440 --> 00:34:57.679 but I did say it's tax It has a tax 643 00:34:57.760 --> 00:35:00.280 benefit there that you might not get it you were 644 00:35:00.320 --> 00:35:02.599 doing the normal Well that's the advantage really for you 645 00:35:03.400 --> 00:35:05.440 if you were trying to do that. But I get 646 00:35:05.480 --> 00:35:07.239 your point. I'm not I'm not trying to say you 647 00:35:07.320 --> 00:35:09.519 know right, I'm just saying just to make sure we 648 00:35:09.599 --> 00:35:10.760 have the full context here. 649 00:35:12.159 --> 00:35:15.800 Yes, for what my final what will be that? What 650 00:35:16.239 --> 00:35:18.920 my question which is I will put it as a question, 651 00:35:19.159 --> 00:35:21.000 and also my own talks. 652 00:35:20.800 --> 00:35:25.760 Which is one interest face. We'll see, we'll see. Olympica 653 00:35:25.800 --> 00:35:27.280 said that, Olimita said they want. 654 00:35:27.199 --> 00:35:31.800 To because more than what's compatable with the United States, 655 00:35:32.039 --> 00:35:35.000 which is the country that you are looting the currency. 656 00:35:35.239 --> 00:35:36.320 I mean, I don't think. 657 00:35:36.199 --> 00:35:39.519 It's going to be I don't think so anything about that. 658 00:35:40.679 --> 00:35:43.840 Sorry, I don't know it's going to be above the 659 00:35:43.960 --> 00:35:46.519 US rates. They cannot pay you what the US busy. 660 00:35:46.519 --> 00:35:48.159 There's no point they're going to pay you one of 661 00:35:48.199 --> 00:35:50.559 the US pas. The US pays you for five percent, 662 00:35:51.000 --> 00:35:54.760 Niger will pay you from eight percent because eurobonds today 663 00:35:54.800 --> 00:35:59.199 are eight and eurobondes have a higher security, so they're 664 00:35:59.239 --> 00:36:01.880 going to pay you from it. I believe that's what 665 00:36:02.039 --> 00:36:03.119 I would remember. 666 00:36:03.920 --> 00:36:07.000 That's what the relator said, actually said that it was 667 00:36:07.000 --> 00:36:08.159 going to correct. 668 00:36:09.360 --> 00:36:11.239 It reflects to so and it. 669 00:36:11.639 --> 00:36:14.079 Just like you said, Calu, there must be a premium, 670 00:36:14.159 --> 00:36:17.320 because why are you going to tell when people have the. 671 00:36:17.360 --> 00:36:18.880 Option to hoo US debt? 672 00:36:19.280 --> 00:36:21.519 Why are you going to I was seeing that they 673 00:36:21.599 --> 00:36:22.599 would that you're at dept. 674 00:36:22.480 --> 00:36:25.280 At the same with Definitely you have the tax benefics 675 00:36:25.320 --> 00:36:28.920 you have totally I'm not and you dropped me and 676 00:36:29.039 --> 00:36:30.440 bring me up with thank you. 677 00:36:31.440 --> 00:36:34.239 Yeah, so the tax benefic Calum, if you look at 678 00:36:34.239 --> 00:36:37.400 the tax benef just like you said, one of one 679 00:36:37.440 --> 00:36:41.599 of the advantages addris about fire government investments, which is 680 00:36:41.639 --> 00:36:43.199 a lot of investment houses. 681 00:36:43.480 --> 00:36:49.079 There is that when you invest in different forms charges 682 00:36:49.119 --> 00:36:49.480 and things. 683 00:36:49.519 --> 00:36:54.400 But uh, the the fair government security is net and 684 00:36:54.679 --> 00:36:58.239 the safety gives you. Really like we mentioned is the 685 00:36:58.320 --> 00:37:01.119 fact that this is a currency that Nigeria has no 686 00:37:01.199 --> 00:37:03.440 judicial and we notice that of the economy. 687 00:37:03.639 --> 00:37:06.280 But in the long run, I think it's an interesting concept. 688 00:37:06.639 --> 00:37:08.599 Where I'm really going to be concerned is that do 689 00:37:08.719 --> 00:37:08.960 you know. 690 00:37:09.039 --> 00:37:12.519 The capitis They did a range very systemic investment bank 691 00:37:13.239 --> 00:37:18.920 has good tentacles around different African countries with up But 692 00:37:19.199 --> 00:37:22.440 where I am more concern is with Nigerians. We did 693 00:37:22.559 --> 00:37:26.360 tap into this with the fact that banks are raising money. 694 00:37:27.000 --> 00:37:30.480 There's so much investment around your corner down Qui ferrariy 695 00:37:31.559 --> 00:37:36.679 go to list by quarter one next year, Calu. To 696 00:37:36.800 --> 00:37:40.159 be honest, you know, it's really going to be very, 697 00:37:40.480 --> 00:37:42.480 very tough to get to be in my get I 698 00:37:42.639 --> 00:37:45.559 wonder an initial target, but I don't think the two. 699 00:37:46.000 --> 00:37:49.079 I think it's a console the council there. 700 00:37:49.519 --> 00:37:51.079 Yeah, I hear you, I hear you. I mean it 701 00:37:51.800 --> 00:37:54.639 goes back to this issue of we are going to 702 00:37:54.719 --> 00:37:56.719 borrow in the foreign courtesy we can opering, so we 703 00:37:56.840 --> 00:37:58.760 have to be very clear. I think the target should 704 00:37:58.760 --> 00:38:01.679 be the diaspora and the dorm account holders. That's really 705 00:38:01.760 --> 00:38:05.199 targets three four percent if you keep your money in 706 00:38:05.199 --> 00:38:08.760 the US DOM account zero percent. If you do this 707 00:38:08.920 --> 00:38:13.039 bond you get some interest rated I think, yeah, yeah, 708 00:38:13.039 --> 00:38:15.320 I hear you, I mean thanks. I think the main 709 00:38:15.400 --> 00:38:17.960 thing there's going to be the targeting the DASPRA, like 710 00:38:18.039 --> 00:38:20.280 you said, and the dorm account holders. Well, the two 711 00:38:20.400 --> 00:38:23.679 main guys, the dorm account holders and the DASPRA. And 712 00:38:23.800 --> 00:38:26.719 those guys have liquid cash that can invest it immediately 713 00:38:27.119 --> 00:38:30.599 and want a higher yield than what the eurobonds are doing. 714 00:38:31.199 --> 00:38:34.440 So let's see if they go to DASPRA in America 715 00:38:34.639 --> 00:38:36.840 and they is offered it offer a dance brug in 716 00:38:36.880 --> 00:38:41.880 America eight percent dollar eight percent. Wow, that's that's his 717 00:38:42.039 --> 00:38:44.320 rent right there. Eight percent. So it gives you one 718 00:38:44.360 --> 00:38:47.360 thousand dollars and you're gonna give me that's that's a 719 00:38:47.400 --> 00:38:50.039 lot of money. Eight percent, because Inflati here is now 720 00:38:50.159 --> 00:38:55.440 below three percent. So if I take a heelock on 721 00:38:55.559 --> 00:38:58.159 my house and I take one hundred thousand dollars and 722 00:38:58.199 --> 00:39:01.280 I invest in Nigeria, right and I get eight percent, 723 00:39:01.400 --> 00:39:05.000 what's that one hundred thousand, eight percent? That eight thousand dollars. 724 00:39:07.159 --> 00:39:11.800 That's eight thousand dollars, Clean Claire for doing nothing. And 725 00:39:11.920 --> 00:39:15.239 I'm boring, at what what the going he looked for? 726 00:39:15.400 --> 00:39:18.400 Maybe four or five if I'm boring, But if I 727 00:39:18.480 --> 00:39:22.320 have the money, I'm not paying that. That's huge risk. 728 00:39:22.480 --> 00:39:25.639 If Nigeria pays you, fine, if they don't pay you, man. 729 00:39:26.920 --> 00:39:29.960 But yeah, those guys are invested in. 730 00:39:32.880 --> 00:39:36.199 Gonna gonna gonna gonna know gets on, I'm gonna get oil. 731 00:39:38.239 --> 00:39:44.079 I agree, amazing, You're right. I mean Ghana was Ghana 732 00:39:44.280 --> 00:39:47.360 was They went too fast, too fast, that's they tried 733 00:39:47.360 --> 00:39:50.800 to copy. They hold up, hold up, hold up, hold up, 734 00:39:50.840 --> 00:39:53.159 hold up. They were trying to be like Nigeria. I 735 00:39:53.239 --> 00:39:56.760 think Ghanna refused to learn from Nigeria. Nigeria had the 736 00:39:56.920 --> 00:40:00.840 Dutch disease. The Ganians almost even worse. They got this 737 00:40:01.159 --> 00:40:05.199 small amount of crude oil and they sold the crude 738 00:40:05.239 --> 00:40:10.079 oil ahead of time and instead of spending, just spending 739 00:40:10.199 --> 00:40:12.719 so at the point they were so stain that growth 740 00:40:13.239 --> 00:40:16.559 with borrowed funds and went up. They were dead. At 741 00:40:16.639 --> 00:40:20.920 least Nigeria has crude oil. Nigeria has remittance. Ghanna was really, really, 742 00:40:21.000 --> 00:40:26.400 really a basket kiss. Let's get the Luca in here, 743 00:40:26.559 --> 00:40:29.360 looker right. 744 00:40:31.000 --> 00:40:34.599 He said something about printing money. 745 00:40:34.599 --> 00:40:39.480 And giving to investors when they call to take their 746 00:40:39.599 --> 00:40:40.159 money out. 747 00:40:41.320 --> 00:40:43.920 I need clarification on that, please. 748 00:40:44.960 --> 00:40:48.440 I said that the it is called issue risk free 749 00:40:48.519 --> 00:40:52.599 because if it all fails, if all things fail, the 750 00:40:52.719 --> 00:40:55.679 government can monetize its debts with me, they can simply 751 00:40:55.840 --> 00:40:58.679 print and cover that debt. That's what I tried to say. 752 00:40:58.880 --> 00:41:01.840 The point I was making was that with the NEYRA issues, 753 00:41:02.039 --> 00:41:05.920 it's less it's less risky to niger balancee than the 754 00:41:06.119 --> 00:41:09.320 dollar issue that we cannot print dollars. That's the point 755 00:41:09.360 --> 00:41:09.840 I was making. 756 00:41:11.639 --> 00:41:14.880 Okay, we'll making that statements. 757 00:41:15.440 --> 00:41:16.880 I don't know because. 758 00:41:18.280 --> 00:41:19.559 Is that good or bad. 759 00:41:19.880 --> 00:41:23.679 It's a factual, it's a factual statement. It's a factual statement. 760 00:41:23.960 --> 00:41:27.199 I'm not just a factuous The US does the exact 761 00:41:27.239 --> 00:41:30.960 same thing. Monetizing the debt means that you are printing 762 00:41:31.079 --> 00:41:36.079 the FED is buying the treasury monetizing the debt. So 763 00:41:36.199 --> 00:41:38.199 that's what I'm not saying it's good or bad. I'm 764 00:41:38.239 --> 00:41:41.519 not saying that's what happens. It's a factual statement. That 765 00:41:41.679 --> 00:41:44.960 was why we were arguing with true. 766 00:41:46.960 --> 00:41:50.400 Yeah, that's what we argue with you that we think. 767 00:41:50.239 --> 00:41:53.239 That American for example, that they have that they can 768 00:41:53.360 --> 00:41:57.400 export because they're dig for the currency reserve currency. 769 00:41:58.239 --> 00:42:03.639 Almost every country the world was so loo cot that 770 00:42:08.039 --> 00:42:13.719 there's not value advantage advantage. Yeah, the US dollar. 771 00:42:13.920 --> 00:42:16.000 For example, he's not the strongest parents in the world, 772 00:42:16.679 --> 00:42:18.360 the most widely currents in the world. 773 00:42:18.599 --> 00:42:19.559 You see the advantage. 774 00:42:19.880 --> 00:42:22.840 And if you know US has the strongest army, you 775 00:42:22.880 --> 00:42:24.440 guys are the strongest economy. 776 00:42:24.840 --> 00:42:27.239 US has military business in more. 777 00:42:27.119 --> 00:42:30.119 Than something in my countries just don't come to so 778 00:42:30.559 --> 00:42:33.199 they have we have the advantage for them to use 779 00:42:33.239 --> 00:42:33.800 the currency. 780 00:42:35.880 --> 00:42:38.400 Think the fact that I maintain so much money. 781 00:42:38.400 --> 00:42:42.400 Officially still three percent. If you have has the definicit, 782 00:42:42.519 --> 00:42:47.400 a better has about so advantages. Trust me, now that 783 00:42:47.599 --> 00:42:50.880 come to his son come back through. 784 00:42:51.400 --> 00:42:52.760 Yeah, I mean, let me give you a story that 785 00:42:52.920 --> 00:42:55.719 there's a guy you guys to study John Law. There's 786 00:42:55.760 --> 00:42:59.280 a guy called John Law. He was a gambler, British gambler. 787 00:42:59.599 --> 00:43:01.920 He was for his debt, he ran to France, or 788 00:43:02.000 --> 00:43:04.440 he did in France, he convinced the king. The king 789 00:43:04.599 --> 00:43:07.400 was five years old, so he convinced the king's regents, 790 00:43:07.559 --> 00:43:09.639 the guy that ran the economy of France, and say, hey, 791 00:43:10.400 --> 00:43:14.119 issue a currency. It's like issue a a an NFT 792 00:43:14.320 --> 00:43:17.239 a token. That's how you understanding issue an nft. But 793 00:43:17.400 --> 00:43:20.199 he then told the king to say that all debts, 794 00:43:20.400 --> 00:43:24.239 all taxes had to be paid back with only that token. 795 00:43:24.920 --> 00:43:27.320 So remember when we look at money today, we think 796 00:43:27.360 --> 00:43:29.599 that money today has been the same as money ever since. 797 00:43:30.199 --> 00:43:33.199 In the past, anybody could create some money. The dollar, 798 00:43:33.239 --> 00:43:35.920 for instance, was just the currency of the US government, 799 00:43:36.280 --> 00:43:39.760 but the US railways had their own currency, US grocery 800 00:43:39.840 --> 00:43:42.159 stores had their own currency, everybody had their own currency. 801 00:43:42.440 --> 00:43:46.039 So what John Law said was just mandate that everyone 802 00:43:46.519 --> 00:43:50.119 had to use your currency to pay taxes. Once he 803 00:43:50.239 --> 00:43:53.639 did this, the value of that token went up in price. 804 00:43:54.239 --> 00:43:56.880 So look at it now in treasury bills. What does 805 00:43:56.920 --> 00:43:59.360 the government say. The government says, this is a legal tender. 806 00:44:00.039 --> 00:44:02.400 It means that the dollar, the there is dollar is 807 00:44:02.519 --> 00:44:06.719 legal tender. So once they printed, you needed to pay debts. 808 00:44:07.239 --> 00:44:10.599 Hence it gets value, so paper gets valid because it's 809 00:44:10.679 --> 00:44:15.239 now officially legal tender. So now in Nigeria, the naira 810 00:44:15.480 --> 00:44:18.800 is legal tender, but then goverment is issuing a dollar bond. 811 00:44:19.159 --> 00:44:21.119 But the dollar is not going to be legal tender. 812 00:44:21.519 --> 00:44:23.199 But it's not going to be a quote unquote and 813 00:44:23.320 --> 00:44:27.199 allowable currency because you are trading in that dollar in 814 00:44:27.480 --> 00:44:30.320 the borders of Nigeria, more like a eurobonde that you're 815 00:44:30.320 --> 00:44:32.840 traded outside the borders but it's going to be a 816 00:44:32.880 --> 00:44:36.880 dollar bond traded inside Nigeria, so a big difference there. 817 00:44:37.559 --> 00:44:43.960 Lu did you have a question. I just want I 818 00:44:44.079 --> 00:44:45.880 just want you just want to do. 819 00:44:48.320 --> 00:44:50.079 Yeah, I just want them to make a contribution. 820 00:44:50.840 --> 00:44:53.960 You just made a very base statements right now, and 821 00:44:55.159 --> 00:44:57.000 you know where you make statements like this, I still 822 00:44:57.039 --> 00:45:01.400 wonder why you know, you still dispute the fact that 823 00:45:01.639 --> 00:45:04.360 bitcoin will not catch up later in future. 824 00:45:04.599 --> 00:45:07.480 You know people will not adopt it because you know, 825 00:45:07.599 --> 00:45:10.400 you you you just alluded to the fact that you know, 826 00:45:10.599 --> 00:45:12.719 money has not been the way it has it is 827 00:45:12.880 --> 00:45:13.639 right now. If I had the. 828 00:45:13.679 --> 00:45:17.280 Concept of years is actually new concept. So people don't 829 00:45:17.320 --> 00:45:20.480 think of money outside you know, a paper that is 830 00:45:20.559 --> 00:45:24.920 issued by the government. You know, before now people had 831 00:45:24.920 --> 00:45:26.559 their own currencies. 832 00:45:26.519 --> 00:45:28.840 For at one point, seed was one of the students, 833 00:45:29.920 --> 00:45:31.119 was one of them shells. 834 00:45:31.639 --> 00:45:35.719 You know, before we started using precious metals and right 835 00:45:35.760 --> 00:45:39.079 now we're using code. Because bitcoin is actually cold, you know, 836 00:45:39.199 --> 00:45:41.800 so money people should not look at money as only 837 00:45:41.920 --> 00:45:43.079 what government issues. 838 00:45:43.480 --> 00:45:46.480 You know, money can be anything, really, you know, So. 839 00:45:48.239 --> 00:45:48.840 The idea of. 840 00:45:48.960 --> 00:45:52.480 Bitcoin, you know, it's something that a lot of people. 841 00:45:52.320 --> 00:45:55.599 Who see valuing later although it has its own challenges. 842 00:45:56.039 --> 00:45:58.679 But you know it can be money, you know, as 843 00:45:58.719 --> 00:46:02.440 it is of the government bond, the dollar bond. 844 00:46:02.880 --> 00:46:04.880 I will tell you for the fact that it is 845 00:46:05.119 --> 00:46:07.840 very risky to you know, to buy. 846 00:46:08.199 --> 00:46:12.559 In nigeriaan dollar bond, as hal countries that sovereigns that 847 00:46:12.679 --> 00:46:16.519 you should dollar bond you know succeeded. 848 00:46:16.679 --> 00:46:19.760 Yeah, some have succeeded. You're raising the money then paid. 849 00:46:19.559 --> 00:46:21.360 Back, while a lot of them failed. 850 00:46:21.480 --> 00:46:26.519 Some of them failed without countries like Venezuela, Lebanon, Argentina 851 00:46:27.119 --> 00:46:30.760 and most recently in Russia which failed as a result 852 00:46:30.840 --> 00:46:35.719 of it sanctions. So Nigeria, does Nigeria have the capacity 853 00:46:35.800 --> 00:46:37.320 to pay back his debt? 854 00:46:37.480 --> 00:46:39.719 Maybe, but I highly doubt you. 855 00:46:39.719 --> 00:46:41.679 Know so, I think it's one of the most risky 856 00:46:41.800 --> 00:46:42.960 things that you. 857 00:46:43.079 --> 00:46:46.519 Can do right now, buying the Nigerian dollar bond. Some 858 00:46:46.639 --> 00:46:48.119 of that's my own two cents on this. 859 00:46:49.039 --> 00:46:51.719 Yeah, well said, I mean you can remember that risk 860 00:46:51.880 --> 00:46:54.400 is returned. Let me put this way, that return that 861 00:46:54.519 --> 00:46:57.320 you make is the risk. Right, So if there was 862 00:46:57.440 --> 00:46:59.559 no risk, like the like the Bible said, just berry 863 00:46:59.559 --> 00:47:01.840 your dollar the ground and then get zero percent. So 864 00:47:02.280 --> 00:47:05.719 if you want to make alpha or volatility is the 865 00:47:05.880 --> 00:47:08.920 what creates that return. So if you just want your 866 00:47:09.000 --> 00:47:11.559 dollars safe and secure, put in the ground. If you 867 00:47:11.639 --> 00:47:14.840 want safe and secure, buy US government bonds and end 868 00:47:14.960 --> 00:47:18.320 three four percent. If you're a real risk taker, you 869 00:47:18.400 --> 00:47:20.599 think you want to quote unquote double the return on 870 00:47:20.639 --> 00:47:23.280 the US fixed income. You want to maybe shoot for 871 00:47:23.360 --> 00:47:27.079 eighteen percent? Do Nigeria. I mean their country is paying 872 00:47:27.119 --> 00:47:30.119 more than eight percent. Turkey is paying much much more 873 00:47:30.199 --> 00:47:34.119 than Nigeria. You know, Venezuela is paying much more, Zimbabwe 874 00:47:34.280 --> 00:47:37.239 is paying much more. So it's really your risk appetite. Really, 875 00:47:37.280 --> 00:47:39.960 there's no I telput there. It's no good or bad investment, 876 00:47:40.360 --> 00:47:43.000 it's just your risk appetite. If you want to make more, 877 00:47:43.440 --> 00:47:45.400 you go on that yield CoV and you put your 878 00:47:45.440 --> 00:47:48.000 money there. If you're not risk adverse, just keep your 879 00:47:48.039 --> 00:47:50.480 money where it is and just you know, putting the 880 00:47:50.559 --> 00:47:52.559 ground or put in the US bank and then you 881 00:47:52.639 --> 00:47:56.119 are all as tandy on bitcoin, right, I don't have 882 00:47:56.119 --> 00:47:58.880 an issue with bitcoin. You know, for me, if bitcoin 883 00:47:59.079 --> 00:48:01.280 just stopped at the pact that they want to be 884 00:48:01.400 --> 00:48:05.119 a transfer mechanism and say fast superior mechanism for transfers. 885 00:48:05.360 --> 00:48:07.280 If you want to sell money from Nigeria, to the 886 00:48:07.480 --> 00:48:10.000 US or better stay from the US to Nigeria, you 887 00:48:10.119 --> 00:48:12.079 pay a lot. You pay a lot, You pay almost 888 00:48:12.119 --> 00:48:16.159 four percent or so or three percent. Africa pays the most. 889 00:48:16.599 --> 00:48:19.239 To send money from the US to Africa. All that 890 00:48:19.360 --> 00:48:21.679 countries is very very cheap. We pay forty dollars per 891 00:48:21.719 --> 00:48:25.280 cent any amount that's the wifee forty dollars. Bitcoin is 892 00:48:25.400 --> 00:48:28.679 nearly free. If Bitcoin to Be says we're gonna do transfers, 893 00:48:28.760 --> 00:48:31.079 nobody will argue with them. I think the part where 894 00:48:31.119 --> 00:48:33.760 bigcoin lott is when they say they want to replace dollar. 895 00:48:34.800 --> 00:48:37.079 Every government is the government because the number one they 896 00:48:37.119 --> 00:48:40.400 can kill you. Number two they can jail you. Number 897 00:48:40.480 --> 00:48:44.000 three they can issue currency. Any government you tell they 898 00:48:44.000 --> 00:48:46.239 are going to take away their right to issue currency 899 00:48:46.320 --> 00:48:49.559 will fight you. So bigcon has don't pull marketing initial 900 00:48:49.639 --> 00:48:52.239 to say they want to replace dollar. How can replace dollar? 901 00:48:52.480 --> 00:48:55.199 It's not possible. You can replace for naira. So no 902 00:48:55.440 --> 00:48:57.159 gover will allow you to stand if you're going to 903 00:48:57.199 --> 00:48:59.880 replace that currency. But what if bi cooin says, hey, 904 00:49:01.239 --> 00:49:04.199 it means where we can transfer money. It's full proof, 905 00:49:04.480 --> 00:49:07.679 it's cheaper. Of course, everybody who would adopt it. With 906 00:49:07.840 --> 00:49:10.599 that line, you can get into the door, and then 907 00:49:10.679 --> 00:49:13.320 when you are now on establish currency, you can say, okay, 908 00:49:13.400 --> 00:49:16.239 we want to replace a dollar because dollar didn't wake 909 00:49:16.320 --> 00:49:20.519 up today. Dollar replaced the Spanish and the English and 910 00:49:20.679 --> 00:49:23.280 all that. So that's just my ticket. I don't have 911 00:49:23.360 --> 00:49:27.119 any issue with bitcoin. I hold a bit of cryptocurrency. 912 00:49:27.280 --> 00:49:30.639 But in effect, remember that if you hold bitcoin in itself, 913 00:49:30.760 --> 00:49:33.719 just holding it in a self, you're ainy no interest gold. 914 00:49:33.800 --> 00:49:36.199 If you hold gold by itself, you eart no interest. 915 00:49:36.320 --> 00:49:39.840 But gold has a use, Gold has jewelry, Gold is 916 00:49:39.920 --> 00:49:42.880 used in the cell phones. Bitcoin is what we call 917 00:49:43.000 --> 00:49:45.239 the greater full theory, which which is a real theory. 918 00:49:45.719 --> 00:49:49.119 Bitcoin will only rise in price when there's a new buyer. 919 00:49:49.880 --> 00:49:53.480 Apart from there being a new buyer, Bitcoin has no value. 920 00:49:53.639 --> 00:49:57.639 It's got no interrinting value. The same ware gold, you know, 921 00:49:58.320 --> 00:50:01.639 platinum for instance. It has to have a value. That's 922 00:50:01.679 --> 00:50:04.400 the That's really where I'm on bitcoin. You've got to 923 00:50:04.519 --> 00:50:07.960 show value utility, not just to say it will it too, 924 00:50:08.960 --> 00:50:11.280 you know, all right, guys. 925 00:50:11.360 --> 00:50:14.840 But that's not correct saying that bitcoin does not have 926 00:50:14.960 --> 00:50:19.599 an intrinsic but it's it's small of you know, placing 927 00:50:19.679 --> 00:50:23.519 a tangible things saying bitcoin must have you know, us 928 00:50:23.599 --> 00:50:25.960 physical use it is now as I speak to you 929 00:50:26.159 --> 00:50:29.320 right that people who are seeing the value of you know, 930 00:50:29.519 --> 00:50:32.480 storing their moneys. You know you're using bit coin as 931 00:50:32.519 --> 00:50:35.639 a store of value, you know, against inflation. 932 00:50:36.280 --> 00:50:38.159 But that's not true even if you look at the 933 00:50:38.239 --> 00:50:42.440 numbers to say whenever there's crisis, when when whenever there's 934 00:50:42.840 --> 00:50:48.159 whenever there's crisis, gold goes up, Bitcoin goes down. Bitcoin 935 00:50:48.320 --> 00:50:50.920 is not a store of value ever, I've putted it 936 00:50:51.039 --> 00:50:53.320 many times. Look at it. Just whenever there's. 937 00:50:54.960 --> 00:50:58.039 It goes down the store of value because if I 938 00:50:58.199 --> 00:50:59.039 wasn't saving you. 939 00:50:59.559 --> 00:51:01.480 You can't the same way when. 940 00:51:01.400 --> 00:51:04.440 When the government went on in printing charade in Nigeria, 941 00:51:04.679 --> 00:51:05.440 I would have been out. 942 00:51:05.480 --> 00:51:06.559 I would have been wiped out. 943 00:51:07.079 --> 00:51:11.239 Understand the bag of a bag of rice, a bag 944 00:51:11.360 --> 00:51:15.480 of rice is store of value Nigeria. A bag of 945 00:51:15.679 --> 00:51:18.000 rice is a store of value Nigia. A bag of 946 00:51:18.400 --> 00:51:20.440 cement to store valu nager, I can name it a 947 00:51:20.480 --> 00:51:22.920 bag of a paint can to stop valantager and the 948 00:51:22.960 --> 00:51:25.760 amenities that a store, but not investments. So you can't 949 00:51:25.760 --> 00:51:28.679 see because it's it retains its value, then you should 950 00:51:28.679 --> 00:51:31.039 go do that. The point I'm making, and I'm standing 951 00:51:31.159 --> 00:51:36.039 is that bitcoin in itself has value because the next 952 00:51:36.239 --> 00:51:38.440 person wants to buy from me at the higher price. 953 00:51:38.920 --> 00:51:40.119 That's why it has value. 954 00:51:41.199 --> 00:51:44.199 Entirely correct, because okay, see for instance, do you know 955 00:51:44.320 --> 00:51:48.360 that during the protest a lot of people's accounts were frozen, 956 00:51:48.960 --> 00:51:51.559 you know, because they tried to protest, They try to 957 00:51:51.639 --> 00:51:53.039 god their government accountable. 958 00:51:53.079 --> 00:51:54.199 How does bitcoin solve that? 959 00:51:57.000 --> 00:52:01.360 With bitcoin? Whom you more? If I send money to 960 00:52:01.800 --> 00:52:03.519 to to someone. 961 00:52:03.679 --> 00:52:06.199 You know, tell me how you send it to me? 962 00:52:06.599 --> 00:52:08.360 Tell me how you said it to me? Should walk me? 963 00:52:08.480 --> 00:52:10.400 Walk me through? Walk me through? How do you send 964 00:52:10.440 --> 00:52:14.239 it to me? How do you send to me? Bit 965 00:52:14.360 --> 00:52:15.960 going to you? If you have the wallet? It's just 966 00:52:16.760 --> 00:52:19.079 how how do I get a wallet? How did I 967 00:52:19.119 --> 00:52:19.679 get a wallet? 968 00:52:20.719 --> 00:52:22.119 You can't get you to just. 969 00:52:24.880 --> 00:52:26.519 Won let throe? How how how did I get it. 970 00:52:29.480 --> 00:52:29.639 From? 971 00:52:29.679 --> 00:52:29.880 Where? 972 00:52:31.000 --> 00:52:31.039 So? 973 00:52:31.400 --> 00:52:34.599 So I go to the I go to the infants 974 00:52:34.599 --> 00:52:38.239 and donload and wallets. Right is trying to make you. 975 00:52:41.960 --> 00:52:43.800 You could create, you know you could create. 976 00:52:46.440 --> 00:52:48.880 But that wallet that was whose name? Who name on 977 00:52:48.920 --> 00:52:51.440 the wallet? Who's new being the wallet? 978 00:52:54.079 --> 00:52:57.800 Can you said something about how you got thelet whose name? 979 00:52:58.039 --> 00:52:59.480 Who's never being? The wallets. 980 00:53:00.880 --> 00:53:03.360 Is flash back and just I think what we see 981 00:53:03.440 --> 00:53:06.480 and I think I got into in love cause for as. 982 00:53:06.440 --> 00:53:09.239 Last week and that pretty much people do understand this. 983 00:53:10.400 --> 00:53:14.239 I own a centralized worlds, I own centralized words, and 984 00:53:14.639 --> 00:53:19.800 I understand our government work around for as. Yes, criple 985 00:53:19.880 --> 00:53:23.239 itself as decentralized principle, But what I was making you 986 00:53:23.360 --> 00:53:28.360 understand is that as the lookers we have government, what 987 00:53:28.599 --> 00:53:31.719 is really what we call centralized. It's not really decentralized. 988 00:53:32.159 --> 00:53:34.480 And you know, I told I spoke about the fact 989 00:53:34.519 --> 00:53:38.719 that I don't want reported in new stands, the fire 990 00:53:38.800 --> 00:53:39.880 government throughs. 991 00:53:40.840 --> 00:53:42.280 That was it thirty five with that. 992 00:53:42.320 --> 00:53:46.760 Self me know, and critics were like, men, you're needio 993 00:53:46.880 --> 00:53:49.840 that the news is not possible. You can freeze and 994 00:53:50.320 --> 00:53:53.400 make you understand that scene. We have different forms of 995 00:53:53.519 --> 00:53:56.920 wordt the saying accounts. People don't really understand the application 996 00:53:57.000 --> 00:54:02.320 of you check the CI the MBI is skeleton cryptocurrencies. 997 00:54:03.280 --> 00:54:06.320 You can freeze centralized worlets. 998 00:54:06.679 --> 00:54:11.719 You can use much contracts to disable to centralized worlets. 999 00:54:12.159 --> 00:54:14.000 You're seeing it in the case of titter, So what 1000 00:54:14.159 --> 00:54:18.280 can you swimpy telling is that as much as cryptocurrencies 1001 00:54:18.360 --> 00:54:20.960 are centralists, we need to as much as they have 1002 00:54:21.320 --> 00:54:26.800 use cases in traditional feelers, they don't really have that 1003 00:54:27.000 --> 00:54:30.199 word into simp value or important. Said it gives Diamond 1004 00:54:30.280 --> 00:54:32.519 said it. So I don't think it's fair for us 1005 00:54:32.559 --> 00:54:34.440 to start making it an issue. You need to look 1006 00:54:34.480 --> 00:54:38.559 at the tractional fillures aspect of all value. You need 1007 00:54:38.599 --> 00:54:41.480 to understand why they say it doesn't but it's not. 1008 00:54:41.679 --> 00:54:42.840 It doesn't mean that he has. 1009 00:54:42.719 --> 00:54:43.480 Those stop value. 1010 00:54:43.719 --> 00:54:48.440 It's a argument ongoing, but reality is that crito currencies 1011 00:54:49.119 --> 00:54:51.159 are not centralized as. 1012 00:54:51.119 --> 00:54:51.800 We think they are. 1013 00:54:52.599 --> 00:54:54.960 And I'm making that governments in. 1014 00:54:55.039 --> 00:55:00.000 Different countries have ceased foozing, confliccated critical coreny. 1015 00:55:01.960 --> 00:55:04.480 I'm talking about bitcoin. You're talking about. 1016 00:55:05.719 --> 00:55:08.559 Okay, but let's go back to the basis. You want 1017 00:55:08.639 --> 00:55:11.519 to hold bitcoin. I think it's you can hold bitcoin 1018 00:55:11.599 --> 00:55:14.679 and you can make money from it. I'm not against that. 1019 00:55:15.159 --> 00:55:17.559 I'm not against that. Like I've said clearly, and you 1020 00:55:17.760 --> 00:55:20.880 and you can't. You can you can stick. I hear you, 1021 00:55:21.000 --> 00:55:25.599 brost Listen, I hear you. If you hold bitcoin this year, 1022 00:55:25.679 --> 00:55:27.360 you've made a lot of money last year, a lot 1023 00:55:27.400 --> 00:55:29.239 of money. There's no problem with that. You can also 1024 00:55:29.320 --> 00:55:32.480 even stick your bitcoin and get fixed returns that are 1025 00:55:32.559 --> 00:55:36.639 almost higher than investing the dollar. So bitcoin gives you sticking. 1026 00:55:37.039 --> 00:55:40.159 Bitcoin gives you an inflation hedge because if you hold 1027 00:55:40.239 --> 00:55:43.840 bitcoin and you don't hold naira, you give yourself that hedge. 1028 00:55:44.000 --> 00:55:47.000 I get all that. I'm not debating that the point 1029 00:55:47.119 --> 00:55:49.880 I'm making and I'm being factored because I pull listening. 1030 00:55:50.360 --> 00:55:53.800 When you hold bitcoin, the value derived from the fact 1031 00:55:53.840 --> 00:55:56.000 that the second person is going to bite from you. 1032 00:55:56.199 --> 00:55:59.000 That's where the value is from. If you hold gold, 1033 00:55:59.440 --> 00:56:01.679 gold can be used as a jewelry. It can be 1034 00:56:01.840 --> 00:56:04.360 used in your mobile phones. It can be used the identitist. 1035 00:56:04.440 --> 00:56:07.400 It has a use case. If you hold wheat, wat 1036 00:56:07.480 --> 00:56:10.800 can be used to make bread. Bitcoin in itself is 1037 00:56:10.920 --> 00:56:14.800 a digital token. The value is derived from the fact 1038 00:56:14.840 --> 00:56:17.920 that it has a market, and I'm saying once there's 1039 00:56:18.000 --> 00:56:21.000 no market, it has no value. I'm not debating if 1040 00:56:21.039 --> 00:56:23.679 you can make money from it or can't make money 1041 00:56:23.760 --> 00:56:26.320 from it. If you want to hold it, It's what 1042 00:56:26.480 --> 00:56:29.920 we call a risky investment. If you hold a risky investment, 1043 00:56:30.199 --> 00:56:33.280 you're liable to all not all things being equal, you're 1044 00:56:33.320 --> 00:56:36.159 able to make more returns from it. So if your 1045 00:56:36.239 --> 00:56:39.159 risk profile is allowable to do that, go ahead and 1046 00:56:39.239 --> 00:56:41.559 do that I don't. I'm not hitting bitco and knocking 1047 00:56:41.639 --> 00:56:43.679 the head. I think it's fine, it's fantastic. 1048 00:56:44.719 --> 00:56:49.760 Exactly what mobile studies empty? Exactly what can you say 1049 00:56:50.519 --> 00:56:53.719 in use case not it's the only issue that will. 1050 00:56:54.079 --> 00:56:57.840 But then you can get exposure because it's something that 1051 00:56:58.320 --> 00:57:01.920 rows from out of nowhere. But like you said, we 1052 00:57:02.000 --> 00:57:04.320 need by now, he said no, it would by now. 1053 00:57:04.280 --> 00:57:06.360 Because he rather hold onto DECII. 1054 00:57:06.719 --> 00:57:10.840 So we need to understand those traditional finals definition of 1055 00:57:11.239 --> 00:57:14.079 of this asset. I understand, guys, where you guys look 1056 00:57:14.119 --> 00:57:17.039 at the fact that first coins is traditionary th inside 1057 00:57:17.039 --> 00:57:20.159 that don't put this putting that discom was created to 1058 00:57:21.320 --> 00:57:22.480 defeat that purpose. 1059 00:57:22.719 --> 00:57:25.519 But the reality is that we live in an entity 1060 00:57:25.639 --> 00:57:27.719 that when the system. 1061 00:57:27.440 --> 00:57:31.960 Becoregrated, there's so much trouble. One of the problems market. 1062 00:57:31.800 --> 00:57:35.880 Has every regraded. You've seen so much comes. We look 1063 00:57:35.960 --> 00:57:39.679 at how much nagieras are lost in Potalo projects triple entities. 1064 00:57:39.920 --> 00:57:42.679 So you need to be very conscious and careful and 1065 00:57:42.880 --> 00:57:46.800 understand the limits. That motive is absolutely in us. Nottil 1066 00:57:46.880 --> 00:57:49.559 is absolutely guess by the fact that the text book 1067 00:57:49.559 --> 00:57:50.119 would tell you that. 1068 00:57:50.559 --> 00:57:53.880 Such as I said, thank you, excellent let's take someone else. 1069 00:57:53.960 --> 00:57:59.079 Let's take kay, kay, what's in your mind? Okay, you 1070 00:57:59.199 --> 00:58:01.320 got a handle, k what's in your mind? Let's take 1071 00:58:01.400 --> 00:58:07.480 lifelong learner, lifelong learner, what's your mind? Go ahead, Hey 1072 00:58:07.519 --> 00:58:09.360 you guys, your hands up. Lifelong be. 1073 00:58:11.239 --> 00:58:11.440 Doing? 1074 00:58:11.880 --> 00:58:12.079 Yeah? 1075 00:58:12.199 --> 00:58:12.719 Can you hear me? 1076 00:58:12.840 --> 00:58:12.960 Now? 1077 00:58:13.119 --> 00:58:17.360 I can thank you having following all a long. I can. 1078 00:58:17.639 --> 00:58:20.800 I can see what you're doing, the goodies you're putting. 1079 00:58:20.559 --> 00:58:21.239 Have been following. 1080 00:58:21.320 --> 00:58:24.880 Thank you so much for your worldsover. I just want 1081 00:58:24.920 --> 00:58:26.480 to add a little comment on. 1082 00:58:26.559 --> 00:58:27.440 The b t C. 1083 00:58:28.079 --> 00:58:31.559 Yeah, all the kind I think one hundred percent I 1084 00:58:31.639 --> 00:58:35.000 agree with you for now. B t C I think 1085 00:58:35.239 --> 00:58:37.320 is more like an n F t. 1086 00:58:41.719 --> 00:58:42.239 O bad. 1087 00:58:43.119 --> 00:58:46.000 Like with time, there is what we called I think 1088 00:58:46.360 --> 00:58:49.280 mister look me that has been following over with the space. 1089 00:58:49.039 --> 00:58:50.039 With defire and order. 1090 00:58:50.639 --> 00:58:54.440 So there is what we call them zero knowledge proofs 1091 00:58:54.719 --> 00:58:55.400 that will still. 1092 00:58:55.280 --> 00:58:56.719 Coming future of b t C. 1093 00:58:56.960 --> 00:59:00.320 So b t C people are also by I need 1094 00:59:00.400 --> 00:59:03.719 for for the technology that it doesn't exist now, but 1095 00:59:03.920 --> 00:59:04.960 to exist in future. 1096 00:59:05.239 --> 00:59:07.840 So I think there's another reasons some group of people. 1097 00:59:08.000 --> 00:59:10.880 That's a good point, Like that's a good point. Investment 1098 00:59:11.000 --> 00:59:14.639 might not be now that's a good point. I can 1099 00:59:15.039 --> 00:59:17.039 I concede that point. That's a good point. I am 1100 00:59:17.119 --> 00:59:21.320 buying today for what will happened tomorrow. Interesting point. I 1101 00:59:21.440 --> 00:59:24.400 concede that point to you. Yes, sir, I agree, good 1102 00:59:24.760 --> 00:59:33.079 point noted. Let's get okay, okay, what's your mind? Okay, okay, 1103 00:59:33.159 --> 00:59:36.920 let's get no such thing as waste? Interesting? What's up? 1104 00:59:37.000 --> 00:59:39.079 No sarching as waste? What your to? Go ahead. 1105 00:59:42.320 --> 00:59:44.000 And everyone? 1106 00:59:44.199 --> 00:59:44.840 How you doing, sir? 1107 00:59:46.039 --> 00:59:47.800 Well, yeah, I'm fine. 1108 00:59:47.840 --> 00:59:51.199 I'm fine because going through. 1109 00:59:53.760 --> 00:59:54.119 I know. 1110 00:59:59.360 --> 00:59:59.599 You have. 1111 01:00:00.239 --> 01:00:04.599 It has really really ruding over over the years since 1112 01:00:05.440 --> 01:00:12.280 ninety seventy one, when uh, when next thing came off 1113 01:00:12.400 --> 01:00:15.920 the gold standard and it's more like everything is paid 1114 01:00:15.960 --> 01:00:18.280 onto onto every. 1115 01:00:18.159 --> 01:00:19.079 Currency is paid. 1116 01:00:18.880 --> 01:00:19.519 Onto the dollar. 1117 01:00:19.960 --> 01:00:21.280 So I do that in rule. 1118 01:00:24.360 --> 01:00:27.440 Your orders kind of apparents in the world because it 1119 01:00:28.159 --> 01:00:32.159 so sorry, look go ahead, go ahead. 1120 01:00:35.840 --> 01:00:39.519 No so I hate to jose, could you, uh. 1121 01:00:40.920 --> 01:00:45.440 If you explain deeply what's the new Kic theory and 1122 01:00:45.519 --> 01:00:49.239 the Quantine effect is? When is it affected a lot 1123 01:00:49.239 --> 01:00:52.079 of which other which a vein is one used to 1124 01:00:54.280 --> 01:01:00.440 two hate again such and previously. 1125 01:01:02.320 --> 01:01:05.320 Your funds if I heard your line was breaking up. 1126 01:01:05.320 --> 01:01:07.440 But if I heard you correctly, you are asking about 1127 01:01:07.519 --> 01:01:17.239 how you can hedge your funds. Is that what you're asking? Yes, yes, okay, 1128 01:01:17.800 --> 01:01:20.679 all right, so good broad question. Let me just see 1129 01:01:20.679 --> 01:01:23.480 if I can answer broadly. So when you say hedge, 1130 01:01:23.559 --> 01:01:27.360 you are trying to protect it from something. The most 1131 01:01:27.440 --> 01:01:32.320 common hedge is against inflation, and that hedges against a 1132 01:01:32.559 --> 01:01:36.960 loss in purchasing power. So inflation, it means you're trying 1133 01:01:37.000 --> 01:01:41.920 to protect that asset you have from losing that ability 1134 01:01:42.000 --> 01:01:44.559 to purchase the same items today. That's one thing you're 1135 01:01:44.559 --> 01:01:48.719 trying to do today. So the most common hedge is 1136 01:01:48.840 --> 01:01:50.920 to go to an SI unit, to go to a 1137 01:01:51.159 --> 01:01:56.440 base currency or bayse commodity. That's the most common hedge 1138 01:01:56.519 --> 01:02:00.239 because in the past, like I've eluded, every current, see 1139 01:02:00.280 --> 01:02:04.719 what's pegged to something. So all currencies in the world 1140 01:02:04.880 --> 01:02:08.719 were pegged to something, either it's gold or a commodity. 1141 01:02:09.000 --> 01:02:12.320 It was always pegged to something. Then you would then 1142 01:02:12.599 --> 01:02:16.840 issue a currency to denote that this item exists in 1143 01:02:16.880 --> 01:02:21.320 the safe. But this currency note stands as a substitute 1144 01:02:22.280 --> 01:02:24.719 to that thing that exists in the safe. That's essentially 1145 01:02:24.800 --> 01:02:26.199 what currency is. 1146 01:02:26.800 --> 01:02:26.960 Right. 1147 01:02:27.639 --> 01:02:29.920 So when you want to hedge, you want to go 1148 01:02:30.159 --> 01:02:33.360 back to that quote unquote biz. You want to try 1149 01:02:33.440 --> 01:02:37.880 to buy an asset that is tied nearer to what 1150 01:02:38.280 --> 01:02:41.840 was hedging you or what was giving your currency value. 1151 01:02:42.199 --> 01:02:44.639 The most common is gold, but you can carry gold 1152 01:02:44.639 --> 01:02:47.719 around the whole place, right, what about commodities? You also 1153 01:02:47.800 --> 01:02:51.960 can carry gary or maze around the whole place. So 1154 01:02:52.159 --> 01:02:55.199 folks like to go towards currencies. What currency is not 1155 01:02:55.320 --> 01:02:59.400 the US dollar, right, perhaps the Yen, the Swiss franc, 1156 01:02:59.679 --> 01:03:02.880 even Australian dollar. They use the land currency as well. 1157 01:03:03.239 --> 01:03:07.199 Those are traditionally looked as hedged currencies. Those are the 1158 01:03:07.239 --> 01:03:09.840 currencies you run to if you want to pro to 1159 01:03:09.920 --> 01:03:14.400 yourself on volatility. The dollar is the reserve, but it's 1160 01:03:14.480 --> 01:03:17.760 not a good hedge because it does lose value. The 1161 01:03:17.880 --> 01:03:21.639 Swiss currency is very strong, but it's not a reserve 1162 01:03:21.840 --> 01:03:24.639 currency used across the world. So if you want to 1163 01:03:24.719 --> 01:03:28.000 hedge with the currency, that's where you want to run to. 1164 01:03:28.519 --> 01:03:30.760 The other thing is to hedge, say with a bond. 1165 01:03:31.400 --> 01:03:32.960 Right you want to say, I want to earn a 1166 01:03:33.079 --> 01:03:37.559 bond that it does inflation, perhaps it protects me. I 1167 01:03:37.679 --> 01:03:41.239 think the US government issued inflation hedged bonds. They're called 1168 01:03:41.320 --> 01:03:45.119 q tips. So if you buy them qtip you get 1169 01:03:45.199 --> 01:03:49.320 the fixed return, but you also get an inflation rider, 1170 01:03:49.880 --> 01:03:53.159 which means if inflation goes up, the US government pays 1171 01:03:53.239 --> 01:03:53.840 you more. 1172 01:03:54.480 --> 01:03:54.519 So. 1173 01:03:55.079 --> 01:03:58.280 To hedge means you are going towards something that was 1174 01:03:58.440 --> 01:04:03.119 previously a base for a currency, either to a commodity 1175 01:04:03.760 --> 01:04:05.639 or to a currency. If you're going to a commodity 1176 01:04:05.719 --> 01:04:09.599 like I said the Swiss frank Yen Australian dollar newsaland 1177 01:04:09.639 --> 01:04:11.320 those things are very very good. If you're trying to 1178 01:04:11.360 --> 01:04:14.480 go to US our commodity perhaps gold. Now you have 1179 01:04:14.639 --> 01:04:17.559 gold ATM machines. If you go to Costco, if you 1180 01:04:17.599 --> 01:04:19.920 go to do buy can bud goals on the ATM. 1181 01:04:19.920 --> 01:04:22.320 If you want to do that, keep solid gold and 1182 01:04:22.559 --> 01:04:26.000 swept to fiat currency perhaps, But if you're a big 1183 01:04:26.079 --> 01:04:29.639 time investor, you'll just maybe look at buying a q 1184 01:04:29.880 --> 01:04:32.159 tipe or buying a mutual fund. There are many mutual 1185 01:04:32.199 --> 01:04:34.840 funds you that allow you to ride out for latility. 1186 01:04:34.960 --> 01:04:37.559 If you want to hedge against market falling, you buy 1187 01:04:37.639 --> 01:04:40.079 the fix. If you want to hedge against fixed income 1188 01:04:41.920 --> 01:04:44.079 interest rates going up, you can buy it on the 1189 01:04:44.159 --> 01:04:47.800 fixed income market as well. So that's the way to 1190 01:04:47.920 --> 01:04:49.880 do it. I don't know if you have the skill 1191 01:04:49.920 --> 01:04:51.679 to do it. You want not talk to your advisor 1192 01:04:52.239 --> 01:04:53.840 and then if you have a problem or you say 1193 01:04:53.880 --> 01:04:55.800 this is what I'm concerned about, they can give you 1194 01:04:55.840 --> 01:04:58.719 a way to do it. But that's just broad definition 1195 01:04:58.880 --> 01:05:02.920 of what you want to do. I hope that helps you, sir, 1196 01:05:06.679 --> 01:05:12.800 perfect zero equally from Sorry, Sorry I went over time. 1197 01:05:12.840 --> 01:05:18.440 I think it was natural, Okay, So yeah, I think 1198 01:05:18.599 --> 01:05:20.320 we've talked about the. 1199 01:05:20.400 --> 01:05:23.159 Years, the bonds and concerns of the rige. You know, 1200 01:05:23.199 --> 01:05:24.679 I talked about possession. 1201 01:05:26.280 --> 01:05:26.800 And trust. 1202 01:05:26.920 --> 01:05:30.320 So I don want to address the risk as because 1203 01:05:30.920 --> 01:05:33.079 from outside of things. 1204 01:05:32.840 --> 01:05:35.639 We really do not see that he's as risky as 1205 01:05:35.840 --> 01:05:36.840 people perceive it to be. 1206 01:05:36.920 --> 01:05:39.480 I think it's what what's your side? What's your side? 1207 01:05:39.519 --> 01:05:40.800 You say your side? What's your side? 1208 01:05:41.719 --> 01:05:44.800 I mean my side of the like say, my perspective 1209 01:05:44.920 --> 01:05:49.199 on the market. Basically, yeah, so why is writing? So 1210 01:05:49.559 --> 01:05:52.920 first of all, it's okay, he carries risks here. Yeah, 1211 01:05:53.039 --> 01:05:55.519 the returns are higher, but gam then we don't control 1212 01:05:55.599 --> 01:05:59.880 the currency. So whoever he is looking at it the target, 1213 01:06:00.039 --> 01:06:03.639 I get that, look at it Okay, Well, if I 1214 01:06:03.760 --> 01:06:09.559 am going to forsake alternative, that's US treasuries or US 1215 01:06:09.639 --> 01:06:14.840 bonds for this switch base higher, what the odds I 1216 01:06:14.880 --> 01:06:17.320 will get my money. So I'm going to address that question, 1217 01:06:17.440 --> 01:06:20.639 what odds you get your money? Why do I think 1218 01:06:20.760 --> 01:06:21.400 is a good idea? 1219 01:06:21.440 --> 01:06:24.199 Why would I tell my clients or whatever, or my 1220 01:06:24.360 --> 01:06:27.360 friends to invest if they have the money. 1221 01:06:28.159 --> 01:06:33.280 It's a five year bond, right, you allowed. 1222 01:06:33.039 --> 01:06:37.039 That it should pay at least eight percent years, so 1223 01:06:37.159 --> 01:06:38.239 let's put it at ten percent. 1224 01:06:38.840 --> 01:06:43.119 That puts the interest cost at sixty million. But for 1225 01:06:43.320 --> 01:06:48.880 five years. Yeah, I wouldn't worry too much. Why because 1226 01:06:49.280 --> 01:06:51.079 we just I mean thee. 1227 01:06:53.039 --> 01:06:55.519 Retail dodge options that just happened that I'm linking it 1228 01:06:55.599 --> 01:06:59.159 to the dicision in our reserves by ten hundred and 1229 01:06:59.199 --> 01:07:01.400 eighty one million dollars. 1230 01:07:01.599 --> 01:07:03.400 So so as almost half a million. 1231 01:07:03.519 --> 01:07:04.079 What am I saying? 1232 01:07:04.119 --> 01:07:05.920 I'm saying I don't think half a million is going 1233 01:07:06.000 --> 01:07:08.199 to be a problem for the further government in. 1234 01:07:08.239 --> 01:07:09.000 The five years. 1235 01:07:09.519 --> 01:07:13.039 I think if this takes off, I still have in doubt. 1236 01:07:13.119 --> 01:07:16.000 I think it's probably going to be under subscribed. But 1237 01:07:16.400 --> 01:07:20.360 if it's not, if I'm wrong and it's oversubscribed, I 1238 01:07:20.440 --> 01:07:24.719 think it's going to be a priority case in for 1239 01:07:25.199 --> 01:07:29.639 this administration. But then that now includes what they call like, well, 1240 01:07:29.840 --> 01:07:33.800 I'm sorry, political risk, because the vision is five years million, 1241 01:07:35.760 --> 01:07:38.679 a new government comes in betweenty twenty seven, three years 1242 01:07:38.719 --> 01:07:43.360 from now, we know how the country is and how 1243 01:07:43.760 --> 01:07:47.760 still unstable it could be. And you know someone mentioned men, 1244 01:07:48.760 --> 01:07:51.599 what are you about redogossi staxes. 1245 01:07:51.599 --> 01:07:53.199 They could just come and say, okay, I'm going to 1246 01:07:53.239 --> 01:07:55.639 talk to you guys when it's supposed to be things 1247 01:07:55.719 --> 01:07:55.880 like that. 1248 01:07:56.440 --> 01:08:01.519 But but now this I really do, out of which 1249 01:08:01.559 --> 01:08:06.280 the political risks for me is the highest. But I 1250 01:08:06.440 --> 01:08:10.440 do think that the I'm skeptical on the NR, so 1251 01:08:11.079 --> 01:08:14.079 I'm skeptical on assets associated with the neerror that I'm 1252 01:08:14.119 --> 01:08:17.800 not sixteen. So that's where I don't have two questions 1253 01:08:17.880 --> 01:08:21.880 from actually three questions from mister number one. It's media 1254 01:08:22.359 --> 01:08:25.439 because you know people are sort people have one thousand dollars, 1255 01:08:25.920 --> 01:08:28.560 they're done account, they're keeping four years two thousands. 1256 01:08:29.840 --> 01:08:30.479 No one has that. 1257 01:08:30.680 --> 01:08:34.399 Not everyone has that ten So do you think its 1258 01:08:34.439 --> 01:08:37.319 years should be involved people who could actually need pro 1259 01:08:37.479 --> 01:08:38.159 funds together? 1260 01:08:38.279 --> 01:08:40.520 That's the first question in this US. 1261 01:08:40.600 --> 01:08:45.560 The second question is set to really, which do you 1262 01:08:45.720 --> 01:08:49.119 and how do you? How would you advise me or someone? 1263 01:08:49.760 --> 01:08:53.000 Two out major autolis like if someone say I'm looking 1264 01:08:53.079 --> 01:08:57.600 at I'm looking for defensive stock income stock and a 1265 01:08:57.640 --> 01:09:00.359 little bit of good. So how would you have advise 1266 01:09:00.479 --> 01:09:02.760 me if I want to put fifty percent of my 1267 01:09:02.920 --> 01:09:07.399 equity portion for you in deferences to thirty percent in 1268 01:09:08.319 --> 01:09:10.760 income stocks as valuest evident. 1269 01:09:13.319 --> 01:09:15.159 In those stocks. There's the second question. 1270 01:09:15.319 --> 01:09:19.760 The third question would be, I see your post about 1271 01:09:19.800 --> 01:09:24.000 how much neglect you know the you know, the Nigerian 1272 01:09:24.079 --> 01:09:28.359 population it gives the stock market in the comparison toward 1273 01:09:28.399 --> 01:09:31.359 that develo of countries and you know, So what do 1274 01:09:31.479 --> 01:09:34.640 you think I can be done to change that? 1275 01:09:35.199 --> 01:09:37.600 Do you think it's that it's a structural problem or 1276 01:09:37.600 --> 01:09:38.399 do you think it's just. 1277 01:09:42.159 --> 01:09:43.399 It's a thing of. 1278 01:09:45.079 --> 01:09:49.640 More financial literacy needed or more financial education needed? 1279 01:09:50.000 --> 01:09:51.079 Public question? 1280 01:09:51.880 --> 01:09:55.399 Thank you, thank you for question. 1281 01:09:55.800 --> 01:09:57.279 So none start. 1282 01:09:58.199 --> 01:09:59.199 I will try and be brief. 1283 01:09:59.760 --> 01:10:03.680 So the inviting about the Nigerian economists that many people 1284 01:10:03.720 --> 01:10:06.359 are not like Calum So I see people are like Calues. 1285 01:10:06.399 --> 01:10:10.279 That Calus is a nagas poralized. 1286 01:10:09.840 --> 01:10:14.399 Exposed to different assets, has k us that is ready 1287 01:10:14.439 --> 01:10:18.680 vopped in different markets, that can any effects The average 1288 01:10:18.720 --> 01:10:22.800 Nigiera does more, won't aim at bove one future thousand 1289 01:10:23.359 --> 01:10:28.359 much less ethics. So when people start saying denis crap, 1290 01:10:28.720 --> 01:10:29.359 uze this. 1291 01:10:29.600 --> 01:10:31.119 The stock markets is stop. 1292 01:10:31.840 --> 01:10:35.039 It becomes the problem for me because you have to 1293 01:10:35.079 --> 01:10:39.800 start from somewhere right, and if you look at life, you. 1294 01:10:39.880 --> 01:10:41.520 Have to start with what is that really? Just like 1295 01:10:41.600 --> 01:10:44.119 what Calu said, the man that buries the talents do 1296 01:10:44.279 --> 01:10:47.000 not get interested. The man that used one to get 1297 01:10:47.079 --> 01:10:50.039 to grew and was rewarded. 1298 01:10:50.439 --> 01:10:53.279 So you start with what you have first, and what 1299 01:10:53.560 --> 01:10:56.920 you have opportunities might not be stable, but you. 1300 01:10:57.000 --> 01:11:01.159 Have no choice. And that's the narror. So another problem 1301 01:11:01.359 --> 01:11:02.680 is bad. 1302 01:11:02.520 --> 01:11:06.640 Mindset about the nagera captain market who invested so much 1303 01:11:06.760 --> 01:11:09.920 money is lost so much money. The problem we just 1304 01:11:10.119 --> 01:11:12.680 kind of narrative is not because they are not true. 1305 01:11:13.159 --> 01:11:16.119 The problem we dose narrative is because they're extreme. There 1306 01:11:16.159 --> 01:11:20.159 are also certain people in the population that invested in 1307 01:11:20.239 --> 01:11:22.600 the stock market, that set their kids to private verses, 1308 01:11:22.640 --> 01:11:24.640 that are well, that use houses. 1309 01:11:25.399 --> 01:11:28.680 I did a lot of great things. Now the person 1310 01:11:28.880 --> 01:11:31.800 is that the Nigerian stock market is not efficient. 1311 01:11:31.720 --> 01:11:34.359 Is not is not is not like what you have 1312 01:11:34.479 --> 01:11:34.800 with the US. 1313 01:11:35.199 --> 01:11:37.720 Also, the UK market is not like the US. I 1314 01:11:37.880 --> 01:11:39.920 invest in, U can invest in thefore re market. I 1315 01:11:39.960 --> 01:11:41.560 can tell you that not thing is like the United 1316 01:11:41.600 --> 01:11:42.399 States of America. 1317 01:11:42.640 --> 01:11:46.279 So if you're comparing you to America, I think you're 1318 01:11:46.319 --> 01:11:46.960 in for a joke. 1319 01:11:47.439 --> 01:11:49.800 Then you also need to look at your any capacity, 1320 01:11:50.159 --> 01:11:51.199 your level of knowledge. 1321 01:11:52.760 --> 01:11:56.640 Stock market is easier and safer to invest. Why because 1322 01:11:56.680 --> 01:11:59.079 the massive mom you can't lose it is ten percent. 1323 01:11:59.520 --> 01:12:01.479 The massive mom is stock and go is ten percent, 1324 01:12:01.720 --> 01:12:05.319 So you cannot be so dumb. 1325 01:12:05.359 --> 01:12:08.800 Also that when you see your asset dropping as thirty forty, 1326 01:12:08.840 --> 01:12:10.880 you need to take losses in. 1327 01:12:11.039 --> 01:12:12.000 US stock markets. 1328 01:12:12.520 --> 01:12:14.640 And as I can go thirty percent and as I 1329 01:12:14.720 --> 01:12:16.800 can also go down forty percent, we've seen that. 1330 01:12:17.319 --> 01:12:18.640 Do there sectary breakers now? 1331 01:12:19.079 --> 01:12:21.760 So you need to take advantage of what you have 1332 01:12:22.039 --> 01:12:24.479 at your exposure. And as I said, apart from the 1333 01:12:24.560 --> 01:12:25.239 fact we have a. 1334 01:12:25.399 --> 01:12:28.640 Disposable come problem, we also have a cultural perspective. 1335 01:12:29.039 --> 01:12:34.119 Those people dimigrated in US because I was investing in you. 1336 01:12:34.319 --> 01:12:35.840 The two thousand won't take crash. 1337 01:12:36.479 --> 01:12:41.600 My older cousins that invested, they were swimming for textbooks. 1338 01:12:41.920 --> 01:12:46.319 Take blue in America, it don't be improbled. The Master 1339 01:12:46.760 --> 01:12:53.680 dropped by more than half fifty percent of its value. 1340 01:12:54.079 --> 01:12:55.880 But look at what we are. We are living in 1341 01:12:55.920 --> 01:12:59.039 the tech cara, our pull Google to everything of the 1342 01:12:59.119 --> 01:13:01.399 market improves over time. 1343 01:13:01.960 --> 01:13:05.560 Nigeria is not doing be but I can tell you 1344 01:13:05.680 --> 01:13:09.119 that nat market has been who we have now you 1345 01:13:09.199 --> 01:13:11.399 can look at I can look at my market makers, 1346 01:13:11.560 --> 01:13:13.800 I can look at be spread. 1347 01:13:13.760 --> 01:13:15.119 I can look at different things. 1348 01:13:15.560 --> 01:13:17.560 And that's why I said that that what you have, 1349 01:13:17.760 --> 01:13:19.880 because you say, why syst what we have? With that, 1350 01:13:20.319 --> 01:13:22.600 you have to imput your any capacity to be able 1351 01:13:22.640 --> 01:13:26.079 to make efforts if you cannot convince your if you 1352 01:13:26.119 --> 01:13:28.000 cannot enny, Now, I wanted to think you will do 1353 01:13:28.079 --> 01:13:31.399 better with any because you're competing around periods of people 1354 01:13:31.720 --> 01:13:34.720 and there there's a world's gap. So you how to 1355 01:13:34.880 --> 01:13:38.760 start by understanding how to invest, how to be disciplined, 1356 01:13:38.960 --> 01:13:42.039 how to grow, and that's where personal finance. 1357 01:13:41.720 --> 01:13:42.680 Place in mad your rule. 1358 01:13:42.920 --> 01:13:47.159 So the excuse that okay, nagera'stock is not liable, give 1359 01:13:47.239 --> 01:13:47.960 that aside. 1360 01:13:48.399 --> 01:13:50.359 You want to give the knowledge so that you use 1361 01:13:50.399 --> 01:13:51.520 that knowledge to invest. 1362 01:13:51.560 --> 01:13:54.039 Because if you cannot, if you cannot swallow na. 1363 01:13:53.960 --> 01:13:56.319 Losses, how would you swallow the losses? 1364 01:13:56.720 --> 01:14:01.640 If you cannot deal with inefficiency of within your system, how. 1365 01:14:01.560 --> 01:14:03.119 Would you survive? That's why I said that. 1366 01:14:03.399 --> 01:14:06.680 See, if you're a tribal person in the country, for example, 1367 01:14:07.199 --> 01:14:08.640 when you go outside, you're going to have a lot 1368 01:14:08.680 --> 01:14:09.279 of problems. 1369 01:14:09.560 --> 01:14:12.680 So you have to really understand how to deal with 1370 01:14:12.880 --> 01:14:13.520 whatever you are. 1371 01:14:13.640 --> 01:14:16.680 If you are from a ritual, yeah, you can't start 1372 01:14:16.720 --> 01:14:19.479 with us around no body is constant. But the problem 1373 01:14:19.520 --> 01:14:22.720 in social media is that many people live exaggerated lifestyle. 1374 01:14:22.800 --> 01:14:26.039 Many people say things they are not being all new 1375 01:14:26.079 --> 01:14:27.039 where we start there from. 1376 01:14:27.680 --> 01:14:29.439 You know, many of us, our parents are not. 1377 01:14:29.479 --> 01:14:32.119 Down cooties or in middle so we all understood that 1378 01:14:32.159 --> 01:14:33.239 we pass through from group. 1379 01:14:33.520 --> 01:14:35.039 So you have to learn the group. 1380 01:14:35.199 --> 01:14:38.079 And the good thing about investing is that it's a 1381 01:14:38.239 --> 01:14:40.439 general It's just like science. 1382 01:14:40.479 --> 01:14:43.199 Depriotic people, cash on is cashion. Everywhere in the world. 1383 01:14:43.640 --> 01:14:47.279 Investing rules are the same. It's just the market fundamentals 1384 01:14:47.319 --> 01:14:47.920 that are different. 1385 01:14:48.039 --> 01:14:51.920 So you start unders starting those perspectives. Then you know 1386 01:14:52.319 --> 01:15:00.840 the dinner, dinner, outlook, the outdoo. Like I've said, really 1387 01:15:01.319 --> 01:15:05.239 affirmed that many times Kudor has a strong condition with 1388 01:15:06.399 --> 01:15:09.520 so no matter what the CPN doors, it can only 1389 01:15:09.680 --> 01:15:10.159 by time. 1390 01:15:10.760 --> 01:15:14.399 But I think for us, especially younger, the younger. 1391 01:15:14.199 --> 01:15:17.239 Publish what we need to work on this any capacity, 1392 01:15:17.800 --> 01:15:20.159 and while we're excising the government because we cannot just 1393 01:15:20.239 --> 01:15:23.479 before government we sit out on level. The last decade 1394 01:15:23.680 --> 01:15:26.119 was for those that are with the depory government. 1395 01:15:26.399 --> 01:15:28.760 You see what have harp so you cannot see to 1396 01:15:28.840 --> 01:15:29.680 your going with on that. 1397 01:15:29.880 --> 01:15:33.079 So while you're still have to get to do something 1398 01:15:33.479 --> 01:15:37.119 and inflation is high, the valation is so you needed 1399 01:15:37.199 --> 01:15:41.000 to put exposures for me, I say, the easiest place 1400 01:15:41.079 --> 01:15:43.680 to invest for having the journeys and just talk market 1401 01:15:44.279 --> 01:15:46.439 in one tut they bottle of cop would buy you 1402 01:15:46.960 --> 01:15:51.600 twenty five defense types of stocks in the n GX. 1403 01:15:53.560 --> 01:15:55.399 So you can't try that in America. 1404 01:15:56.119 --> 01:15:57.720 Do you know how much it dollar is to just 1405 01:15:57.800 --> 01:15:58.279 do you know how much? 1406 01:16:01.800 --> 01:16:03.760 No, I'm just trying to make it because the truth 1407 01:16:03.800 --> 01:16:06.199 of the matter is that, See, you have to start 1408 01:16:06.279 --> 01:16:06.960 from somewhere. 1409 01:16:07.279 --> 01:16:09.840 If somebody gives you five thousand dollars, good, you can 1410 01:16:10.000 --> 01:16:11.439 ignore the Nigerian stock. 1411 01:16:11.479 --> 01:16:13.319 I don't have a problem with that. When you don't 1412 01:16:13.359 --> 01:16:17.600 have something, you're not eating, your complaining and don't want 1413 01:16:17.640 --> 01:16:20.479 to start from the end. Sorry, nobody is going to 1414 01:16:20.560 --> 01:16:23.239 help you. And that's the problem I have. That's the 1415 01:16:23.359 --> 01:16:26.119 problem I really have with so a perform The fact 1416 01:16:26.159 --> 01:16:26.359 we have. 1417 01:16:26.680 --> 01:16:31.279 Supposed to become cultural problems, the fact that people give a. 1418 01:16:31.359 --> 01:16:32.880 Bad name on the market. 1419 01:16:32.960 --> 01:16:34.199 Don't even who has. 1420 01:16:34.800 --> 01:16:39.880 About seven successful businesses listed on the stock market. If 1421 01:16:39.920 --> 01:16:42.640 you look at each of those investments, because I have 1422 01:16:42.760 --> 01:16:46.159 exposure in all of them, it has done better than 1423 01:16:46.239 --> 01:16:48.800 the average European stock I invested last year. 1424 01:16:49.640 --> 01:16:52.960 Now, the question is why am I investing because a 1425 01:16:53.039 --> 01:16:56.000 pert from the fact I'm Nigerian. I want to understand 1426 01:16:56.000 --> 01:16:57.279 that your business is better than. 1427 01:16:57.319 --> 01:17:01.319 Foreign businesses, and I understand the market people old nagerial 1428 01:17:01.399 --> 01:17:03.159 stalks like us talks. We are going to get into 1429 01:17:03.319 --> 01:17:07.680 trouble because American companies are usually older, are more efficient. 1430 01:17:08.279 --> 01:17:12.359 Nag companies are younger, inefficient and unstable. You need to 1431 01:17:12.439 --> 01:17:15.319 understand these things. You don't treat an American woman like 1432 01:17:15.399 --> 01:17:18.439 a nageranman. I always say this this off many times. 1433 01:17:18.800 --> 01:17:20.600 Despite the fact that they are both we met, they 1434 01:17:20.680 --> 01:17:24.239 are culturally different because of environmental and. 1435 01:17:24.680 --> 01:17:29.399 That's interesting, interesting, very interesting. 1436 01:17:30.159 --> 01:17:34.520 Yeah, because that we really need to start from somewhere. 1437 01:17:34.800 --> 01:17:37.800 We really need to start from somewhere, and the matter 1438 01:17:37.960 --> 01:17:40.039 is that we have to start with world we are. 1439 01:17:40.880 --> 01:17:43.399 I wish we can all be successful, but the better 1440 01:17:43.439 --> 01:17:45.960 about life is that we have to sow seed but 1441 01:17:46.000 --> 01:17:48.960 also wet and if we do so, with all we. 1442 01:17:49.000 --> 01:17:51.039 Start, we will leave this by So. 1443 01:17:51.439 --> 01:17:56.239 The togist, I think starting from our own markets is 1444 01:17:56.439 --> 01:17:59.560 in no printer because it's easier. You learn so much 1445 01:17:59.600 --> 01:18:01.880 a bit over time you can migrate. Many of us 1446 01:18:01.960 --> 01:18:03.600 are trade for your markets. Who started from you have 1447 01:18:03.680 --> 01:18:04.640 to market you can. 1448 01:18:05.359 --> 01:18:07.600 Also, it makes you gives you. 1449 01:18:08.479 --> 01:18:12.760 Exposure to understand the companies their balance statement. You see 1450 01:18:12.800 --> 01:18:15.199 some people talking about GIT. They don't know how GIT 1451 01:18:15.359 --> 01:18:17.920 makes money. They don't know what makes GIT different. 1452 01:18:18.000 --> 01:18:20.399 They don't know why you be is what this? They 1453 01:18:20.439 --> 01:18:23.239 don't know what asss bank is, what is investing? We 1454 01:18:23.319 --> 01:18:24.720 teach you all those things over time. 1455 01:18:25.199 --> 01:18:27.920 Then you get better Superor information because. 1456 01:18:27.720 --> 01:18:31.319 You lead to investment bankers. I have six different broaders. 1457 01:18:31.600 --> 01:18:35.840 I talk to about a dozen investment bankers a week 1458 01:18:36.279 --> 01:18:38.920 to get top information about what is happening. 1459 01:18:39.039 --> 01:18:40.199 So I'm not just reading. 1460 01:18:40.479 --> 01:18:41.760 I'm also getting. 1461 01:18:42.199 --> 01:18:46.199 Top valuable information from insider and that you're investment bankers 1462 01:18:46.239 --> 01:18:49.920 are not expensive or like Europeans if you open Europeans 1463 01:18:49.920 --> 01:18:53.520 standard accounts. For example, I ask if you know how 1464 01:18:53.560 --> 01:18:55.359 much financial world moneyment fees? 1465 01:18:55.399 --> 01:18:56.600 If you know how much the pay. 1466 01:18:57.920 --> 01:19:03.079 You start with your advantage, which advantage and who being 1467 01:19:03.199 --> 01:19:04.039 consistent at all. 1468 01:19:05.720 --> 01:19:08.039 In effect that you're saying you are you saying that 1469 01:19:08.279 --> 01:19:11.960 if I'm a Nigerian guy in Nigeria just starting out 1470 01:19:12.239 --> 01:19:15.960 is best for me to start with Nigeria than going foreign. 1471 01:19:16.079 --> 01:19:18.239 Even if I could make more, I could hedge. 1472 01:19:18.840 --> 01:19:22.119 Just to be clear, Yeah, because the problem is that 1473 01:19:22.600 --> 01:19:26.479 you know the the the the around him, sorry, the 1474 01:19:27.159 --> 01:19:30.199 the investments is that there's not like floor you're going 1475 01:19:30.239 --> 01:19:31.439 to ask this morning. 1476 01:19:31.720 --> 01:19:33.840 You need to lend the roops just like someone wants 1477 01:19:33.840 --> 01:19:36.840 to lend the car. You start your diving lessons on 1478 01:19:36.920 --> 01:19:37.600 the express feed. 1479 01:19:38.359 --> 01:19:41.520 You might survive, but you're surviving when you get the 1480 01:19:41.880 --> 01:19:42.439 horn of. 1481 01:19:42.479 --> 01:19:49.439 Your trailer or the you see different cars running at 1482 01:19:49.600 --> 01:19:51.359 the speed of power. 1483 01:19:51.800 --> 01:19:53.920 But when you start, when you start on. 1484 01:19:53.920 --> 01:19:57.760 The streets, so as you put this one, okay you 1485 01:19:58.039 --> 01:19:58.760 that you push. 1486 01:19:58.560 --> 01:20:00.920 You got that? That's how we a that's how many 1487 01:20:00.920 --> 01:20:04.920 because all right, I drive on the express. 1488 01:20:04.640 --> 01:20:05.399 Bit that's the problem. 1489 01:20:05.439 --> 01:20:08.720 Along, Start slow, start slow, I hear you. 1490 01:20:09.520 --> 01:20:13.680 Let's actually the mic because no, no, no, no. 1491 01:20:15.279 --> 01:20:17.239 Toberry. You've got the flow to the berry. 1492 01:20:18.279 --> 01:20:22.399 Okay, okay, I'm saying I just wanted to appreciate you 1493 01:20:22.760 --> 01:20:24.239 and miss lud. 1494 01:20:25.800 --> 01:20:26.279 Conversation. 1495 01:20:26.479 --> 01:20:28.760 Thank you appreciate that. Just have a lot of fo 1496 01:20:28.960 --> 01:20:31.159 to speaks precient that yes to the very good flow. 1497 01:20:31.239 --> 01:20:32.560 Thanks you appreciate. 1498 01:20:32.239 --> 01:20:37.159 Your candor go to doing the space today. 1499 01:20:37.359 --> 01:20:39.399 Yeah, very well. 1500 01:20:40.319 --> 01:20:43.279 Yeah, I requested for the micro and we were discussing, 1501 01:20:43.479 --> 01:20:47.640 you know, this store value on bitcoin good. 1502 01:20:49.159 --> 01:20:50.720 I just don't want to share my perspective. 1503 01:20:50.840 --> 01:20:55.920 You know, if you had asked. 1504 01:20:57.439 --> 01:21:03.800 The Comoto ten years ago if bitcoin won't bitcoin it's 1505 01:21:03.840 --> 01:21:08.359 got to work seventy thousand dollars, I think it would 1506 01:21:08.399 --> 01:21:12.880 have argued with you, or if it's going to agree 1507 01:21:12.920 --> 01:21:16.319 with you, it would have agreed that the world would 1508 01:21:16.399 --> 01:21:21.079 be in a mess. So my point here is that 1509 01:21:22.439 --> 01:21:25.520 these assets that we are mentioning, they're just. 1510 01:21:25.640 --> 01:21:26.279 On their own. 1511 01:21:28.000 --> 01:21:31.479 It is the actions of the government, the policies of 1512 01:21:31.560 --> 01:21:37.039 the government. They on end the money painting, you know, 1513 01:21:37.239 --> 01:21:43.800 the local activity globally, the low GDP. That's why these 1514 01:21:43.960 --> 01:21:49.920 assets add assets add money, That's why they are going up. 1515 01:21:50.880 --> 01:21:53.239 It's not really their own use case. 1516 01:21:54.600 --> 01:21:59.239 But an example, what's hard assets given as ad asset, 1517 01:22:00.079 --> 01:22:01.479 an odd set is gold. 1518 01:22:02.800 --> 01:22:07.239 Their casts is of add sets, right, they are they 1519 01:22:07.319 --> 01:22:08.760 have to be relatively scarsts. 1520 01:22:11.239 --> 01:22:11.800 They need to be. 1521 01:22:12.159 --> 01:22:17.319 It needs to be interchangeable, it needs. So it's it's 1522 01:22:17.439 --> 01:22:20.800 really the quality of the cast of money. So as 1523 01:22:20.960 --> 01:22:24.319 much as those are set have those characteristics of money, 1524 01:22:25.119 --> 01:22:28.600 they could be regarded as adda sts oil. People forget 1525 01:22:28.640 --> 01:22:34.159 that oil is black gold, right, it's also had money 1526 01:22:35.399 --> 01:22:39.079 because everything we do in life is energy and the 1527 01:22:39.279 --> 01:22:45.079 best form of energy right now, but perhaps owing to 1528 01:22:45.279 --> 01:22:46.439 nuclear is. 1529 01:22:46.479 --> 01:22:49.800 Still oil and it is limited. 1530 01:22:51.920 --> 01:22:52.920 But my point is. 1531 01:22:55.960 --> 01:22:59.520 Based on known no nods. There are some things that 1532 01:22:59.600 --> 01:23:03.319 we can we can we can predict right now. 1533 01:23:05.119 --> 01:23:07.600 All central banks around the world are points and money 1534 01:23:07.640 --> 01:23:12.039 and they are never going to stop because they need 1535 01:23:12.239 --> 01:23:15.600 liquiditing the system, They need fund the government. 1536 01:23:16.199 --> 01:23:19.600 Nangia is not an exception. The US itself is not 1537 01:23:19.640 --> 01:23:20.199 an exception. 1538 01:23:20.760 --> 01:23:24.159 Now, when you know that already, you can start polate 1539 01:23:24.640 --> 01:23:26.079 what the consequences of that is. 1540 01:23:26.239 --> 01:23:29.000 It means that at some point a lot of money 1541 01:23:29.000 --> 01:23:29.880 will be chasing. 1542 01:23:29.760 --> 01:23:30.479 Very few things. 1543 01:23:31.199 --> 01:23:33.960 Now, let me say today, as today, there are two 1544 01:23:34.199 --> 01:23:35.479 very big problems in the world. 1545 01:23:35.760 --> 01:23:38.680 I want to land this plant on this landing play. 1546 01:23:38.760 --> 01:23:40.239 Yeah, I'm just gonna land it this way. 1547 01:23:40.560 --> 01:23:42.800 There are two major problems right now, and I think 1548 01:23:42.800 --> 01:23:45.439 those products as to better than the next day years. 1549 01:23:46.000 --> 01:23:49.319 One is foodscasting. The other one is bad money. 1550 01:23:50.439 --> 01:23:52.880 So our conclude by saying we could get to a 1551 01:23:53.000 --> 01:23:55.119 future where only good. 1552 01:23:55.000 --> 01:23:56.960 Money would buy your food. 1553 01:23:57.960 --> 01:24:01.560 So regardless of we get looking up in terms of dollars, 1554 01:24:01.960 --> 01:24:05.520 it's actually what you're going to exchange for in the future. 1555 01:24:06.359 --> 01:24:07.960 So I'm just gonna stop it. Thank you. 1556 01:24:08.479 --> 01:24:10.960 I'm like, I get the point you're making that in effect, 1557 01:24:11.880 --> 01:24:14.520 food is we need food, but we don't need money. 1558 01:24:14.800 --> 01:24:19.039 So in effect, if I export grain, I could say 1559 01:24:19.079 --> 01:24:21.439 I want this particular currency to pay for my grain. 1560 01:24:21.520 --> 01:24:25.560 I hear you, but you forget the fact that the 1561 01:24:25.720 --> 01:24:29.319 government can basically invade on the land and take all 1562 01:24:29.359 --> 01:24:33.079 their food. Might is always right, and eventually, if you 1563 01:24:33.079 --> 01:24:36.439 look at the strongest currencies, they always correlate with the 1564 01:24:36.520 --> 01:24:40.920 strongest navy. If I just sell government to keep printing, 1565 01:24:40.960 --> 01:24:43.239 I will never stop printing that, which is correct. It 1566 01:24:43.399 --> 01:24:48.800 means that eventually what we call currencies, whatever the strongest 1567 01:24:48.960 --> 01:24:51.520 government says, it is not what we say. 1568 01:24:52.159 --> 01:24:55.640 I agree with your other that's where we need that said, 1569 01:24:55.680 --> 01:24:57.520 that is your position. 1570 01:24:58.199 --> 01:25:01.840 How can it be if it's if we if we 1571 01:25:03.279 --> 01:25:06.279 how can how can gold and bitcoin be in your 1572 01:25:06.359 --> 01:25:09.359 possession when the government can say you should no longer 1573 01:25:09.520 --> 01:25:13.199 hold gold or no longer hold bitcoin. It's your position. 1574 01:25:14.319 --> 01:25:17.159 So so in the US there's there's. 1575 01:25:16.640 --> 01:25:20.399 The Bill of Rights and the same US, the same 1576 01:25:20.640 --> 01:25:26.439 US band holding gold. The same US banned individuals holding gold. 1577 01:25:27.880 --> 01:25:32.079 The answer everyone to gold, they banded. That's the whole idea. 1578 01:25:32.159 --> 01:25:34.199 Now they says, so that your gold, you cannot hold 1579 01:25:34.239 --> 01:25:39.359 gold individually against which was breaking which was breaking the law. 1580 01:25:39.640 --> 01:25:42.239 But the point I'm making side is this that government 1581 01:25:42.319 --> 01:25:46.159 says you can't hold gold. So eventually, whatever the government 1582 01:25:46.239 --> 01:25:48.479 says money is is what money is going to be. 1583 01:25:48.880 --> 01:25:51.279 And the like I mentioned John Law at the beginning 1584 01:25:51.279 --> 01:25:54.600 of our space, John Law says, the French government passed 1585 01:25:54.800 --> 01:25:57.520 talking and the godfriend government that says this tooking is 1586 01:25:57.560 --> 01:25:59.279 the only way you can used to pay your taxes. 1587 01:25:59.800 --> 01:26:02.359 So a piece of paper the French was in French 1588 01:26:02.439 --> 01:26:05.560 frag but that piece of paper back then became the 1589 01:26:05.640 --> 01:26:08.520 most valuable thing in France because no matter how much 1590 01:26:08.560 --> 01:26:11.319 money you have, you have to exchange that for the 1591 01:26:11.399 --> 01:26:14.199 government's paper to pay your bill, which is where this 1592 01:26:14.439 --> 01:26:17.680 thing of legal tender comes from. The government allow you 1593 01:26:17.760 --> 01:26:20.439 to hold legal tender. But once the government says that 1594 01:26:20.600 --> 01:26:25.760 you must pay your bills in NIRA. What you hold bitcoin, 1595 01:26:25.920 --> 01:26:27.239 you still have to convert tonra. 1596 01:26:27.960 --> 01:26:30.279 I don't know did you that you but I get 1597 01:26:30.359 --> 01:26:30.800 your point. 1598 01:26:31.439 --> 01:26:35.319 But as someone in the US, the US Constitution says 1599 01:26:36.119 --> 01:26:40.840 no other states ch have anything else apart from gold 1600 01:26:40.920 --> 01:26:41.399 and silver. 1601 01:26:41.760 --> 01:26:42.479 That is not true. 1602 01:26:42.520 --> 01:26:45.920 It says legal tender. It doesn't say you can't hold it. 1603 01:26:49.520 --> 01:26:53.760 The US Constitution no, no, no no, you are legating 1604 01:26:53.800 --> 01:26:57.199 the means to pay debt. You can hold this, but 1605 01:26:57.399 --> 01:27:00.880 you can't pay debt. So the US government has already 1606 01:27:01.000 --> 01:27:05.279 in the past banned you from holding gold. Why can't 1607 01:27:05.279 --> 01:27:08.399 they bann you tomorrow? I mean, remember a few years 1608 01:27:08.439 --> 01:27:11.520 ago they were already banning bitcoin. Just that mister Trump 1609 01:27:11.640 --> 01:27:14.520 is saying gonna allow bitcoin if if you're going to 1610 01:27:14.640 --> 01:27:16.520 come to that and says if you hold bitcoin a 1611 01:27:16.600 --> 01:27:19.119 terrorist terrorist act, would you hold bitcoin? 1612 01:27:22.039 --> 01:27:24.520 I wouldn't because that's not in the constitution. But for 1613 01:27:24.720 --> 01:27:28.239 gold and silver, you'll be preaching the constition and I 1614 01:27:32.159 --> 01:27:35.640 there's not that toever be in store value or. 1615 01:27:39.560 --> 01:27:42.199 All I'm saying is that is the government that determined 1616 01:27:42.239 --> 01:27:45.560 what currency is not you it can be you can 1617 01:27:45.680 --> 01:27:49.600 hold cows and your cows are valuable. I'm not disputing 1618 01:27:49.640 --> 01:27:52.479 that your cows are valuable. I am saying the government 1619 01:27:52.600 --> 01:27:57.000 says today that cow, that milk is currency. If you 1620 01:27:57.119 --> 01:28:00.119 hold bitcoin, you are broken. I'm not disputing the that 1621 01:28:00.319 --> 01:28:03.039 that you're that your bitcoin or your corrector your goal. 1622 01:28:03.119 --> 01:28:05.880 If government says to that goal is not valuable, then 1623 01:28:05.920 --> 01:28:12.960 what do you do after God and the government, US, Nigeria, everywhere, 1624 01:28:13.000 --> 01:28:15.479 after God and a government. So I'm not I'm just 1625 01:28:15.600 --> 01:28:17.960 making a point that in the end we have to 1626 01:28:18.119 --> 01:28:20.640 That's why you have I don't know that we're going 1627 01:28:20.720 --> 01:28:21.640 to we're going to far. 1628 01:28:22.640 --> 01:28:24.479 Okay, let me let me, let me count tie it 1629 01:28:24.560 --> 01:28:27.399 this way. If I'm gonna go with your point, then 1630 01:28:27.520 --> 01:28:31.760 nothing else can be corency. The dollar you are holding 1631 01:28:31.920 --> 01:28:35.159 a piece of paper. The currency you want today is 1632 01:28:35.199 --> 01:28:36.119 a piece of paper. 1633 01:28:36.600 --> 01:28:39.279 The only reason why it is valuable is because the 1634 01:28:39.399 --> 01:28:42.880 US goverment is stamped US government. It has no value whatsoever. 1635 01:28:43.319 --> 01:28:46.640 There's a point im making Bitcoin is a fast, superior 1636 01:28:46.880 --> 01:28:51.159 thing than paper currency. I'm agreeing with you, but I'm saying, 1637 01:28:51.640 --> 01:28:54.199 because you are not the government, you cannot wake up 1638 01:28:54.279 --> 01:28:57.600 and say bitcoin because it's fast superior, will have to 1639 01:28:57.720 --> 01:29:00.680 use Bitcoin doesn't work that way. The government is slow. 1640 01:29:01.119 --> 01:29:03.800 The government is an ass but they're at the government. 1641 01:29:03.960 --> 01:29:06.800 They will determine what you do if they again, if 1642 01:29:06.840 --> 01:29:10.039 they wake up today. Don't you watch Walking Dead? You 1643 01:29:10.159 --> 01:29:12.680 watch I watched working I'm Walking Dead fan? Have you 1644 01:29:12.760 --> 01:29:15.399 seen Walking Dead where the whole world was full of zoombes? 1645 01:29:15.600 --> 01:29:19.399 What's the currency and Walking Dead bullets? It's not even gold, 1646 01:29:19.439 --> 01:29:22.359 it's not bitcouse, it's bullets because there is no more government, 1647 01:29:22.640 --> 01:29:25.319 so you need bullets to protect your self. That's their currency. 1648 01:29:25.960 --> 01:29:29.720 So eventually, when economy decided breaks down, say oh, when 1649 01:29:29.800 --> 01:29:33.439 government breaks down, I'll hold my my bitcoin. No, when 1650 01:29:33.560 --> 01:29:36.640 government breaks down, there's no law and order, so even 1651 01:29:36.800 --> 01:29:39.600 your gold will be worthless. What we have bun is 1652 01:29:39.600 --> 01:29:43.319 gonna be water bullets and triting gum. That's it, not gold. 1653 01:29:44.479 --> 01:29:45.359 So I'm. 1654 01:29:48.000 --> 01:29:51.439 Exactly if there is no government, there is no currency, 1655 01:29:51.560 --> 01:29:54.640 even the gold and the bitcoin would be waterless because 1656 01:29:55.199 --> 01:29:59.520 the government makes the currency itself, makes the economy functions. 1657 01:29:59.560 --> 01:30:01.600 If you take that a way, then you can say 1658 01:30:01.640 --> 01:30:04.600 you're removed here place with bit so you remove government 1659 01:30:04.760 --> 01:30:10.039 basically probably Sector Haber, it's not possible. Let's get that's good. 1660 01:30:10.319 --> 01:30:17.680 That's donkey dooky Capital. Thanks thanks much. 1661 01:30:19.119 --> 01:30:19.359 Thanks. 1662 01:30:20.039 --> 01:30:22.159 I've been watching, I mean, I've been following you guys 1663 01:30:22.239 --> 01:30:23.000 for the past. 1664 01:30:23.359 --> 01:30:24.039 Couple of years. 1665 01:30:25.560 --> 01:30:29.279 It's it's always nice to to be part of you guys. 1666 01:30:30.920 --> 01:30:32.960 I love what you do all the minute. You you 1667 01:30:33.079 --> 01:30:37.119 are always you're always on points. I mean, you get 1668 01:30:37.199 --> 01:30:40.039 your insights and I know because I'm also doing the 1669 01:30:40.079 --> 01:30:45.680 same trying to also get my information from inside as well. 1670 01:30:46.520 --> 01:30:50.279 I have almost my brokerage just like you. I love 1671 01:30:50.399 --> 01:30:52.800 invested in the germ I get. I love it because 1672 01:30:53.520 --> 01:30:58.680 it's it's it's so easy. I mean, so I just 1673 01:30:58.880 --> 01:31:04.199 enjoyed I enjoyed I mean American markets, so I'm exposed 1674 01:31:04.199 --> 01:31:05.800 to South African markets as well. 1675 01:31:07.960 --> 01:31:09.199 So my question is. 1676 01:31:11.239 --> 01:31:16.960 What is what are the companies that I've been following 1677 01:31:16.960 --> 01:31:20.760 A couple of a couple of the companies in Nigeria 1678 01:31:20.960 --> 01:31:24.079 that are actually into tech, the tech companies in Nigeria, 1679 01:31:25.079 --> 01:31:31.119 company like c W g uh He Transas companies like 1680 01:31:32.600 --> 01:31:35.560 because I'm looking at the Ai revolution that is coming 1681 01:31:36.279 --> 01:31:41.520 and I think Nigeria can actually benefit from it since 1682 01:31:41.600 --> 01:31:44.039 it's one of the black nations and the biggest Black 1683 01:31:44.159 --> 01:31:50.800 nation and unhead actually we haven't really done anything to 1684 01:31:50.920 --> 01:31:56.199 actually bring the the the youth actually into that yet, 1685 01:31:56.560 --> 01:31:59.720 but if we as an investor can actually see that 1686 01:32:00.039 --> 01:32:06.199 for what happened. So that's that's why I'm actually asking 1687 01:32:06.319 --> 01:32:10.479 this question saying, what do you guys think about Ninjia 1688 01:32:10.600 --> 01:32:15.359 actually also capturing some part of that a revolution when 1689 01:32:15.359 --> 01:32:16.720 it comes to African market. 1690 01:32:17.479 --> 01:32:21.279 Olive telling me your reputerator or statistics place. 1691 01:32:23.520 --> 01:32:25.159 About good question. 1692 01:32:25.800 --> 01:32:31.279 If you look at the talks the pathologist talks on 1693 01:32:31.439 --> 01:32:35.039 the NJX, you see that they are fairly profitable. But 1694 01:32:35.199 --> 01:32:37.199 you need to also look at your car statistics. Between 1695 01:32:37.600 --> 01:32:39.479 Landry investors and America investors. 1696 01:32:39.640 --> 01:32:40.720 You know, America has the. 1697 01:32:41.279 --> 01:32:44.880 Amount of listed the companies, the most profitable, biggest, but 1698 01:32:45.079 --> 01:32:47.439 due to the matter is that they have different temperaments. 1699 01:32:47.600 --> 01:32:52.199 We have group apart from the app the macros of 1700 01:32:52.279 --> 01:32:57.079 the big magnifiens and other steaming the complies. Many the 1701 01:32:57.199 --> 01:33:00.399 companies are good, meaning that they are we have that 1702 01:33:00.520 --> 01:33:03.359 good than profitability. But if you look at that in 1703 01:33:03.439 --> 01:33:06.840 Nigeria stock market is a different board gaming that line. 1704 01:33:06.920 --> 01:33:11.119 Gian investors, what you if you are not profitable? That's 1705 01:33:11.159 --> 01:33:13.359 what I was laughing when someone was saying that you 1706 01:33:13.439 --> 01:33:16.960 can't just this is stock and you are very recessive 1707 01:33:17.039 --> 01:33:19.640 to profitability. Don't try that if your business is not 1708 01:33:19.800 --> 01:33:23.119 profitable or on the part of profitability. 1709 01:33:22.640 --> 01:33:24.800 I in this on the stock market. I can't die 1710 01:33:24.800 --> 01:33:27.239 it for free. You get hot, you know. 1711 01:33:27.600 --> 01:33:30.840 So if we look at what those guys are doing, 1712 01:33:31.159 --> 01:33:33.520 they're focusing on business to business government. 1713 01:33:33.800 --> 01:33:35.319 Look at what charms in the. 1714 01:33:35.359 --> 01:33:38.399 I space, payment space. 1715 01:33:38.479 --> 01:33:42.640 Eats at the fact that as as bad as exposure. 1716 01:33:43.319 --> 01:33:47.319 So yeah, I agree with you that there are opportunities. 1717 01:33:47.479 --> 01:33:51.239 But uent is that line gan List their companies are 1718 01:33:51.359 --> 01:33:54.279 more realistic than they want to see outside. 1719 01:33:54.319 --> 01:33:56.079 You see all this with their companies. You see what's 1720 01:33:56.119 --> 01:33:56.840 happening to them now. 1721 01:33:57.119 --> 01:33:59.399 The problem is posted apart from if you will, like 1722 01:33:59.560 --> 01:34:03.000 pigi uh pay start that. 1723 01:34:03.079 --> 01:34:08.680 Way you can see the real scenario with that space. 1724 01:34:08.960 --> 01:34:12.640 So uh we haven't said that in mister problems and 1725 01:34:12.760 --> 01:34:16.600 why because they call their acountry side the just profitability 1726 01:34:16.760 --> 01:34:18.479 efficiency just dept. 1727 01:34:18.880 --> 01:34:23.840 So yes, the present minister is trying to promote these days. 1728 01:34:24.399 --> 01:34:28.760 But you see, the other concerns we have is that Nigeria. 1729 01:34:28.399 --> 01:34:32.640 List companies are not rewarded despite the fact this guys, these. 1730 01:34:32.560 --> 01:34:35.960 Guys open their books, they least on the stop market. 1731 01:34:36.520 --> 01:34:39.600 A many of them are really exposed to direct cop contracts. 1732 01:34:39.800 --> 01:34:40.520 That's the problem. 1733 01:34:40.680 --> 01:34:41.840 That's the problem we are facing. 1734 01:34:42.239 --> 01:34:47.159 And until we start rewarding efficiency, people that are productive 1735 01:34:47.560 --> 01:34:48.960 end on people that know. 1736 01:34:49.159 --> 01:34:50.720 Somebody knows, somebody pushes in. 1737 01:34:50.920 --> 01:34:54.520 Because if you look at step contracts in fire government deals, 1738 01:34:54.600 --> 01:34:57.520 look at because I've tried to choose you already see charms. 1739 01:34:57.640 --> 01:34:59.920 C W said there. 1740 01:35:00.439 --> 01:35:06.079 Working with Dimitry, I was kind of excited one systemic. 1741 01:35:06.199 --> 01:35:09.520 I was kind of excited. And you know what Assets 1742 01:35:09.560 --> 01:35:11.840 is doing with it transacts. I think people need to 1743 01:35:11.920 --> 01:35:17.279 watch that space, you know, the assets as so I 1744 01:35:17.359 --> 01:35:20.039 think over time the ngs will evolve. 1745 01:35:20.279 --> 01:35:23.680 But the writing is that because tech works with liquidity, 1746 01:35:23.960 --> 01:35:28.359 America is going to be America because not because of liquidity. 1747 01:35:28.880 --> 01:35:31.399 There's a culture of risk. There's a culture of research, 1748 01:35:31.760 --> 01:35:35.000 is a culture of development. Nigeria we don't have those things. 1749 01:35:36.680 --> 01:35:39.680 Yeah, so it's really really time. So for me, I 1750 01:35:39.800 --> 01:35:42.479 think becausambly, I think it does need to be very 1751 01:35:43.279 --> 01:35:46.760 really exposure. You know what what what what? 1752 01:35:47.079 --> 01:35:49.279 What are your top three or top two picks in 1753 01:35:49.319 --> 01:35:51.560 the tech space for those the guy that wants to 1754 01:35:52.600 --> 01:35:56.439 get exposure, look good, It look like the MT it's 1755 01:35:56.479 --> 01:35:58.239 going to be more that you haven't there. 1756 01:35:59.560 --> 01:36:02.359 I don't given these stocks or the areas. 1757 01:36:02.720 --> 01:36:04.960 Your stocks, like what stocks are looking at in terms 1758 01:36:04.960 --> 01:36:08.319 of topic, I want to measure on boards, you know. 1759 01:36:09.119 --> 01:36:10.359 So generally you know. 1760 01:36:10.600 --> 01:36:14.840 Like I said, I have exposure in differentities or investment. 1761 01:36:14.640 --> 01:36:16.840 So I'm also the city. But if you look at 1762 01:36:17.159 --> 01:36:20.239 you look at me. For me, when there was this 1763 01:36:20.359 --> 01:36:23.760 think Pank, I knew think it's not that, but I 1764 01:36:23.840 --> 01:36:26.680 knew that it did not have the what you took 1765 01:36:27.119 --> 01:36:27.960 because I look. 1766 01:36:27.800 --> 01:36:29.800 At just to push on capability, I look at the 1767 01:36:29.880 --> 01:36:33.560 capital piece and I look at the abbas leverage. If 1768 01:36:33.560 --> 01:36:35.760 you look at empty and that's by the fact empty 1769 01:36:35.760 --> 01:36:39.760 and created record thos because of f skin. They are 1770 01:36:39.920 --> 01:36:45.359 penetrating in different text place. Gradually it's becoming a kind 1771 01:36:45.399 --> 01:36:46.000 of systemic. 1772 01:36:46.439 --> 01:36:48.359 You look at how first Pank. 1773 01:36:48.199 --> 01:36:53.039 Did with agency banking, First money empty and is clime 1774 01:36:53.119 --> 01:36:57.520 to capture resentments, where like giant banks are really kind 1775 01:36:57.600 --> 01:37:00.720 of not really I'm talking about not out of the country. 1776 01:37:00.800 --> 01:37:03.279 So I think ertain we has good prospect. 1777 01:37:03.520 --> 01:37:08.159 But generally I think me, I'm increasing my exposure in 1778 01:37:08.279 --> 01:37:09.439 those tecompanies. 1779 01:37:09.000 --> 01:37:11.880 Are measured and the banks. The reason why I'm increasing 1780 01:37:12.239 --> 01:37:13.000 look at for. 1781 01:37:13.039 --> 01:37:18.800 Example, degrees are ary paid from a reception that have 1782 01:37:18.880 --> 01:37:20.039 been profitable, and lot of. 1783 01:37:20.000 --> 01:37:22.840 People say, what are very pain because they don't do they. 1784 01:37:22.840 --> 01:37:26.920 Do with merchant and the sure plans. So this are 1785 01:37:27.039 --> 01:37:29.560 kind of exposures. Are we looking at and looking at 1786 01:37:30.079 --> 01:37:35.039 businesses that can leverage your number of customers, the capitalist 1787 01:37:35.119 --> 01:37:39.239 they and the risk to mess up, especially in an 1788 01:37:39.319 --> 01:37:41.479 unstable pape eco. 1789 01:37:42.640 --> 01:37:45.560 So I may also ask you I saw again, just 1790 01:37:45.680 --> 01:37:48.199 go back to but I saw there is in AI 1791 01:37:48.399 --> 01:37:51.720 to to approve laws like you can apply for sile 1792 01:37:51.960 --> 01:37:53.960 that you can apply for get an ounside in like 1793 01:37:54.079 --> 01:37:54.960 twenty four hours. 1794 01:37:56.159 --> 01:37:57.119 Yeah, yeah, good question. 1795 01:37:57.399 --> 01:38:00.439 F C and B starting f C and B Starling Wilmar. 1796 01:38:01.079 --> 01:38:03.079 These banks are something you need to watch out when 1797 01:38:03.119 --> 01:38:06.079 he talks or when it comes to take exposure, you know, 1798 01:38:06.359 --> 01:38:09.199 starting for example, like money, A lot of people don't 1799 01:38:09.640 --> 01:38:13.800 know that he's a man from Arsential, that we were 1800 01:38:13.880 --> 01:38:16.880 the founding for us of inter Switch. So you look 1801 01:38:16.920 --> 01:38:19.920 at starting banks products spot on. I look at the 1802 01:38:20.000 --> 01:38:22.439 price right now because I think this year is one 1803 01:38:22.479 --> 01:38:25.239 of the worst. Most part of me at some point 1804 01:38:25.359 --> 01:38:27.239 was looking like it was going to six now as 1805 01:38:27.279 --> 01:38:33.039 floating mark f CMP very interesting stock is a stock 1806 01:38:33.640 --> 01:38:35.239 that definitely is the stock. 1807 01:38:35.119 --> 01:38:39.319 I would I'm looking at the upside because Jemmy yea, 1808 01:38:42.479 --> 01:38:44.359 he has really been able to. 1809 01:38:44.800 --> 01:38:50.119 Hire friends, sectors as people around what you're really talking 1810 01:38:50.159 --> 01:38:54.399 about using technology to join the young population. 1811 01:38:54.319 --> 01:38:55.600 And particularly women. 1812 01:38:56.039 --> 01:39:01.600 He's building products around women and say eventually exposures to 1813 01:39:02.159 --> 01:39:02.640 expot up. 1814 01:39:03.039 --> 01:39:05.800 So yeah, is an interesting thing. But you see, the 1815 01:39:06.319 --> 01:39:08.640 question is that you really need to know what. 1816 01:39:08.760 --> 01:39:09.279 You're looking for. 1817 01:39:09.479 --> 01:39:13.119 If you're looking for long returns, definitely your own banks. 1818 01:39:13.920 --> 01:39:17.119 If you're looking for larger or rootky of course the 1819 01:39:17.199 --> 01:39:19.520 two banks who come to play. Then if you're looking 1820 01:39:19.600 --> 01:39:23.680 for capture the bigger market, well when was dropping below 1821 01:39:24.680 --> 01:39:27.000 which was really really good bye boards. Right now MS 1822 01:39:27.199 --> 01:39:29.560 seems to be breaking and looking to break about. 1823 01:39:30.039 --> 01:39:31.439 So it looks like your. 1824 01:39:32.800 --> 01:39:35.399 Investment objective, the private entry. 1825 01:39:35.760 --> 01:39:40.279 Your liquidity, your exists really make up all this. So 1826 01:39:40.600 --> 01:39:45.239 it's not just about looking at the market. Thank you, eliminated. 1827 01:39:47.239 --> 01:39:48.479 To move on get us. 1828 01:39:48.840 --> 01:39:52.119 Last question is my last question is do you think there. 1829 01:39:52.079 --> 01:39:55.560 Can be any tech company in Nigeria that can pull 1830 01:39:55.600 --> 01:40:00.600 the stunts? That's some companies in America called right now 1831 01:40:00.800 --> 01:40:04.640 in sterns of saying they are changing the strategies of 1832 01:40:05.159 --> 01:40:06.760 their reserve assets. 1833 01:40:10.479 --> 01:40:12.399 Okay, I don't think so. 1834 01:40:13.359 --> 01:40:16.840 I've said, I've said, and that's where I have wished 1835 01:40:16.960 --> 01:40:21.880 many crypto fancy or fanatics. We are not realistic in Nigerians. 1836 01:40:22.159 --> 01:40:26.199 The Nigerian political spiece is not is supportive of. 1837 01:40:28.000 --> 01:40:28.439 Reality. 1838 01:40:28.600 --> 01:40:31.520 One princ reality we will to defeat our enemy. It 1839 01:40:31.640 --> 01:40:38.119 truth is that some deals on top business entrepreneurs, they 1840 01:40:38.159 --> 01:40:42.279 are receptive to ards crypto or the establishments. 1841 01:40:41.960 --> 01:40:45.680 From the national tempy to those because of power we 1842 01:40:45.800 --> 01:40:49.199 have ske skeats a cryptore said. We've seen that not 1843 01:40:49.359 --> 01:40:52.359 just worry, is not just relificity. It's not just despite 1844 01:40:52.399 --> 01:40:55.760 the fact that you see that there's a cloud around it. 1845 01:40:56.000 --> 01:40:59.000 Until we fight that part too, I don't see it happening. 1846 01:40:59.039 --> 01:41:00.640 In the next few years. 1847 01:41:01.479 --> 01:41:07.840 Thank you, gotcha. Let's get King King, mister King. Guys, 1848 01:41:07.880 --> 01:41:09.439 we're gonna everyone to speak. 1849 01:41:09.239 --> 01:41:09.720 Not to worry. 1850 01:41:09.840 --> 01:41:12.720 We're shutting down as everyone's on this on the session 1851 01:41:12.800 --> 01:41:14.359 of speak, So King go ahead. 1852 01:41:17.560 --> 01:41:19.520 All right, thank you very much, Thank you very much. 1853 01:41:20.640 --> 01:41:20.800 Carl. 1854 01:41:21.159 --> 01:41:25.399 I'm very grateful for the opportunity to speak along with you. 1855 01:41:25.520 --> 01:41:28.399 Have been speaking right on points and I've been writing down. 1856 01:41:28.479 --> 01:41:29.800 Trust me, there's no ending. 1857 01:41:30.239 --> 01:41:33.359 The pursuits of knowledge, and I've really been, you know, 1858 01:41:33.720 --> 01:41:36.239 taking down so many things. You know, one thing I 1859 01:41:36.319 --> 01:41:39.640 always talk about, by the grace of God. You know, 1860 01:41:40.199 --> 01:41:46.119 I also have exposure to the foreign market. But talking 1861 01:41:46.159 --> 01:41:48.720 about the n endrom market, you know, I always seeing an. 1862 01:41:48.720 --> 01:41:52.600 Endry market from the standpoint of the l days of crypto. 1863 01:41:53.640 --> 01:41:58.479 The truth is on the long term, over time Nigeian 1864 01:41:58.560 --> 01:42:01.720 stock market is almost like free mooney, bound to go 1865 01:42:02.199 --> 01:42:04.840 if you know the right stock to engage in. If 1866 01:42:04.880 --> 01:42:07.039 you look at their culture sector, the truth is it 1867 01:42:07.159 --> 01:42:07.640 is booming. 1868 01:42:08.039 --> 01:42:09.000 You could see dang. 1869 01:42:09.079 --> 01:42:10.279 Here and then the whole lot of it. 1870 01:42:10.720 --> 01:42:13.039 You could look at the banking sector though they're having. 1871 01:42:12.920 --> 01:42:17.159 Some literary relapse because of capitulation and the whole lot 1872 01:42:17.199 --> 01:42:17.359 of it. 1873 01:42:17.600 --> 01:42:20.800 But that is even a better pullback for them to 1874 01:42:20.920 --> 01:42:21.159 go on. 1875 01:42:21.399 --> 01:42:24.760 So, first of all, whenever persons get to ask the 1876 01:42:24.880 --> 01:42:25.840 question of all. 1877 01:42:31.199 --> 01:42:31.800 A lot of it. 1878 01:42:34.800 --> 01:42:37.560 Can yes, but can you go go to the question 1879 01:42:37.800 --> 01:42:39.399 just so you can I get us go straight to 1880 01:42:39.439 --> 01:42:39.880 your questions? 1881 01:42:40.920 --> 01:42:44.119 All right, very well, So before now the question I 1882 01:42:44.199 --> 01:42:51.520 wanted to ask, and particular to mister Carlo, please, innotion humility, 1883 01:42:51.680 --> 01:42:57.359 asked this question. Please, I don't know if you could 1884 01:42:57.439 --> 01:42:59.159 do us the benefits. 1885 01:42:58.920 --> 01:43:00.439 I can then not say about me. 1886 01:43:00.520 --> 01:43:04.800 Precisely, the benefit of talking about the place. 1887 01:43:04.880 --> 01:43:06.680 I know you might nearly be. 1888 01:43:06.640 --> 01:43:10.119 One hundred percent open with it, but you do us 1889 01:43:10.159 --> 01:43:10.880 a little bit of. 1890 01:43:11.880 --> 01:43:15.920 By talking about where you get the information, because most 1891 01:43:15.960 --> 01:43:19.640 times I'm actually lagging in terms of getting the information, 1892 01:43:19.840 --> 01:43:22.720 and before I get to see them, it's earlier on 1893 01:43:22.800 --> 01:43:24.720 your world, and most of the times I get first 1894 01:43:24.760 --> 01:43:25.840 on information from your word. 1895 01:43:25.880 --> 01:43:26.279 So I don't know. 1896 01:43:26.600 --> 01:43:29.880 I want to know rather or where did you. 1897 01:43:30.000 --> 01:43:32.840 Get your informations from. I'm not supposed to. 1898 01:43:32.840 --> 01:43:35.000 Ask, and I know the internet. The Internet. 1899 01:43:37.359 --> 01:43:38.880 The Internet is very very broad. 1900 01:43:38.960 --> 01:43:41.119 Indeed, indeed it's very very broad. 1901 01:43:41.279 --> 01:43:42.880 That is why I'm trying to as more as well 1902 01:43:43.000 --> 01:43:43.199 for you. 1903 01:43:43.359 --> 01:43:45.720 If you could do all the benefit of stream learning. 1904 01:43:46.079 --> 01:43:49.479 No, I got too many. It's just that I'm focused 1905 01:43:49.520 --> 01:43:51.920 on it. Really, it's nothing magic, just focused. If you're 1906 01:43:51.960 --> 01:43:55.119 focused on knowing the scores of Chelsea Man City game, 1907 01:43:55.199 --> 01:43:55.640 you get it. 1908 01:43:56.119 --> 01:43:57.239 I do a lot of. 1909 01:43:59.000 --> 01:44:04.439 Outlets on my phone, on my watch. When I read, 1910 01:44:04.760 --> 01:44:06.439 I get a lot of news. I say, if you 1911 01:44:06.479 --> 01:44:08.920 only just know what's happening, just subscribe to these news 1912 01:44:09.079 --> 01:44:14.479 channels and read the newspapers and read the details, not 1913 01:44:14.680 --> 01:44:16.720 just the headline, but the details, and use lots of 1914 01:44:16.880 --> 01:44:19.439 treads you can pull and get information from. There's nothing 1915 01:44:19.560 --> 01:44:22.079 magical about it, just if you want to. 1916 01:44:22.399 --> 01:44:27.159 Get it, alright, alright, And I think I'm also I 1917 01:44:27.199 --> 01:44:29.439 could also give persons the opportunity to speak. 1918 01:44:29.760 --> 01:44:30.720 So thank you very much. 1919 01:44:31.159 --> 01:44:32.840 I'm very very grateful for having. 1920 01:44:32.680 --> 01:44:35.800 Me appreciate your calling. Is I appreciate that. Let's get Micah. 1921 01:44:37.520 --> 01:44:43.920 Michael Michael, I am yes, second, yeah, thank you so 1922 01:44:44.199 --> 01:44:45.279 much for all your. 1923 01:44:45.239 --> 01:44:47.399 True and then so let me day as well. 1924 01:44:48.840 --> 01:44:52.319 One my question is I had a limited talk about 1925 01:44:53.880 --> 01:44:55.920 that and I just stop market that you can't lose 1926 01:44:56.359 --> 01:44:56.760 I think he. 1927 01:44:56.840 --> 01:45:01.359 Said more than ten percent, which actually I'm quite interesting, right, 1928 01:45:02.319 --> 01:45:06.239 So I bought this stock VFD VFD, and I bought 1929 01:45:06.279 --> 01:45:06.640 it around. 1930 01:45:06.720 --> 01:45:09.479 It was saying that two hundred and two, and then 1931 01:45:09.479 --> 01:45:10.600 all of a sudden, I. 1932 01:45:10.680 --> 01:45:13.239 Think they had a stock split told her about and 1933 01:45:13.760 --> 01:45:16.359 this top price felled to fourteen are up a ship? 1934 01:45:16.720 --> 01:45:19.319 Right? And then my money, my I think I invested 1935 01:45:19.359 --> 01:45:21.399 like two hundred or two hundred king and it went 1936 01:45:21.520 --> 01:45:23.680 down to like sixty five thousand, and I was like, 1937 01:45:24.359 --> 01:45:26.439 what's happening? So I had to do something and I 1938 01:45:26.520 --> 01:45:29.119 found out this percent stuff. So I was like, why 1939 01:45:29.159 --> 01:45:30.960 would my de price of my stock. 1940 01:45:30.800 --> 01:45:33.079 Go down to six five king when they had this 1941 01:45:33.159 --> 01:45:35.159 stock speed and my money is supposed to be an 1942 01:45:35.239 --> 01:45:37.359 issue around that same range. 1943 01:45:37.520 --> 01:45:39.279 You know, it was fast, I. 1944 01:45:39.319 --> 01:45:41.960 Believe it, and went up to like six or the about. 1945 01:45:42.439 --> 01:45:44.880 So I was like, I used out to my stock 1946 01:45:44.920 --> 01:45:47.720 broke up because I used African prest and I didn't 1947 01:45:47.760 --> 01:45:48.960 get any response from them. 1948 01:45:49.600 --> 01:45:51.039 Then how to even ask. 1949 01:45:50.960 --> 01:45:56.079 The CEO VFD which is I wasn't his name that stuff? 1950 01:45:56.119 --> 01:45:59.439 What's my super I was like saying that the the 1951 01:45:59.840 --> 01:46:01.159 the prs. 1952 01:46:00.760 --> 01:46:02.439 Of there about it was going to sell there there's 1953 01:46:02.439 --> 01:46:04.520 still on it. And this is like almost a moond 1954 01:46:04.640 --> 01:46:08.600 and and my key or my tot case five kids. 1955 01:46:09.000 --> 01:46:10.239 So it's so bad. 1956 01:46:10.720 --> 01:46:11.560 It's so so bad. 1957 01:46:11.920 --> 01:46:14.239 So I see you guys like talk about the I 1958 01:46:14.359 --> 01:46:16.239 just stop market I'm asking you that gave you fun 1959 01:46:16.319 --> 01:46:17.880 of you know, incouraging about to in person, and I 1960 01:46:17.960 --> 01:46:19.680 just stop marketing. At the end of the day, you 1961 01:46:19.760 --> 01:46:25.520 see that there's there's there's lack of efficiency, so just 1962 01:46:25.600 --> 01:46:28.439 top brokers and so they are so bad, like their 1963 01:46:28.479 --> 01:46:29.560 service is so bad. 1964 01:46:29.399 --> 01:46:30.000 And so poor. 1965 01:46:31.279 --> 01:46:33.079 I tried to I try to manage a free and 1966 01:46:33.119 --> 01:46:34.800 beast because I feel that they're the only ones out 1967 01:46:34.800 --> 01:46:37.319 there that's to be digital, but the rest of them 1968 01:46:37.359 --> 01:46:38.199 are so poor. 1969 01:46:38.399 --> 01:46:40.840 Are interest signing off down? 1970 01:46:41.239 --> 01:46:43.920 So like why do you guys keep you know, talking 1971 01:46:43.960 --> 01:46:45.600 about then I just stopped markets when at the end 1972 01:46:45.600 --> 01:46:48.239 of the day, these guys are not even enough. So 1973 01:46:48.520 --> 01:46:50.720 as as some persons thinking about movie on the now, 1974 01:46:50.800 --> 01:46:54.319 and we were opening my hostop book and sets. 1975 01:46:53.359 --> 01:46:57.680 Of that kind of thing that yeah, yeah, so about 1976 01:46:57.680 --> 01:46:59.960 to go to your first question. So only there was 1977 01:47:00.119 --> 01:47:02.359 making the point that you know, when you have the market, 1978 01:47:02.479 --> 01:47:05.880 the market can decline to a certain percentage to a flaw. 1979 01:47:06.159 --> 01:47:10.319 So it can decline day by day by that ten percent, 1980 01:47:10.439 --> 01:47:13.880 that's what he's saying. So if the share price is falling, 1981 01:47:14.399 --> 01:47:16.640 once it falls by ten, that's where it falls for 1982 01:47:16.720 --> 01:47:17.000 the day. 1983 01:47:19.000 --> 01:47:22.520 Okay, okay, that makes sense. 1984 01:47:24.239 --> 01:47:28.960 But overall, overall, if you invest in a good asset 1985 01:47:29.079 --> 01:47:32.479 cost remember the value and the price are two different things, right, 1986 01:47:33.720 --> 01:47:35.880 If you buy a company that's got good value, the 1987 01:47:35.960 --> 01:47:38.359 price will keep on change. The price is based on 1988 01:47:38.880 --> 01:47:42.319 demand and supply, but the value is based on airnings 1989 01:47:42.479 --> 01:47:45.319 future earnings. So you could have a good company that 1990 01:47:45.520 --> 01:47:48.159 during Christmas. People are selling their shares to go for 1991 01:47:48.319 --> 01:47:50.760 Christmas or to pay for school fees. So the price 1992 01:47:50.800 --> 01:47:53.720 will fall and the share prices will do price. The 1993 01:47:53.800 --> 01:47:57.880 shap price will appreciate, right, but the value hasn't changed. 1994 01:47:58.720 --> 01:48:01.199 So you want to ask your self, is my share 1995 01:48:01.840 --> 01:48:05.800 price falling because there's a demand and setting pressure or 1996 01:48:05.880 --> 01:48:09.720 is it because the fundamental ending capacity of that company 1997 01:48:09.800 --> 01:48:12.560 has changed? Look at it this way. Let's pick what 1998 01:48:12.920 --> 01:48:15.520 company can we pick that's going to be Dangote Refinery. 1999 01:48:15.600 --> 01:48:19.600 Let's say Dangota Refinery was on an established compaign. No, 2000 01:48:19.680 --> 01:48:22.479 let's do good. Example. Let's say we had n NPC 2001 01:48:23.199 --> 01:48:26.920 and now we have Dangot Refinery. If n NPC was 2002 01:48:27.000 --> 01:48:30.920 a listed company, the share price of NNPC will go 2003 01:48:31.159 --> 01:48:35.199 down because of Dangote. Why because now there's competition to 2004 01:48:35.319 --> 01:48:39.720 refining local crude in Nigeria. So the future endings of 2005 01:48:39.920 --> 01:48:44.600 NPC will reduce because there's now Dangota Refinery. So that 2006 01:48:44.880 --> 01:48:47.520 reduction in price is not the share price falling per se. 2007 01:48:47.640 --> 01:48:51.319 It is the company's price and market pricing the share 2008 01:48:51.399 --> 01:48:55.840 price to is real price that reflects it future edits 2009 01:48:56.359 --> 01:48:59.359 You see, but what what what if? What if there 2010 01:48:59.439 --> 01:49:03.800 was no dun the refinery. But a distination plant in 2011 01:49:04.079 --> 01:49:09.199 NNPC went down, went out of commission for say two months. 2012 01:49:09.800 --> 01:49:13.159 The share price will also fall because of that short 2013 01:49:13.359 --> 01:49:16.960 term destructing arnings, but it's not going to affect the 2014 01:49:17.199 --> 01:49:21.239 future endings to that extent. So the market will say, yes, 2015 01:49:21.399 --> 01:49:23.760 we are going to factor in this fall short term 2016 01:49:23.800 --> 01:49:27.800 ins but long term the future and is of NNPC 2017 01:49:27.960 --> 01:49:31.319 because the dictional plant will not really change the long term. 2018 01:49:32.359 --> 01:49:35.840 You see the difference now. So the pricing reflects how 2019 01:49:35.960 --> 01:49:38.800 the market does edding. So you come and going back 2020 01:49:38.800 --> 01:49:42.079 to your going back to your question, if you bought 2021 01:49:42.159 --> 01:49:44.760 that particulars talk and the Shapherd that's gone down, did 2022 01:49:44.800 --> 01:49:47.840 the share price go down because something happened to the 2023 01:49:48.119 --> 01:49:51.640 projected future endings? That's what you want to ask yourself. 2024 01:49:51.960 --> 01:49:54.680 Share price is not guaranteed to go up one hundred percent. 2025 01:49:54.760 --> 01:49:58.039 It's only guaranteed to match with earnings. So if you 2026 01:49:58.159 --> 01:50:01.119 do your research and you find out I heard you 2027 01:50:01.239 --> 01:50:05.239 asking people, oh, p just reflects the eddings ratio how 2028 01:50:05.319 --> 01:50:09.560 much investors want to pay today for future eddings. So 2029 01:50:09.600 --> 01:50:12.439 if you see a pe of four, it makes investors 2030 01:50:12.479 --> 01:50:16.600 want to pay today four times the arnings to buy 2031 01:50:16.680 --> 01:50:20.199 the stock today, so it reflects to you and growing demand. 2032 01:50:20.760 --> 01:50:23.800 So a pe of one hundred and a pe of ten, 2033 01:50:24.359 --> 01:50:26.880 the pe tells you how expensive the stock is, not 2034 01:50:27.000 --> 01:50:30.199 the share price. So if you see two companies, what 2035 01:50:30.399 --> 01:50:32.800 are what ten era, but one has a pe of 2036 01:50:32.880 --> 01:50:36.800 one hundred, it means that you are buying one hundred 2037 01:50:36.960 --> 01:50:40.479 times the earnings at the share price of ten today. 2038 01:50:41.039 --> 01:50:43.840 So that means that you are expecting like Tesla, you 2039 01:50:44.000 --> 01:50:46.880 are saying that the testa share price is going to 2040 01:50:47.119 --> 01:50:50.319 rise so much in the future that you are willing 2041 01:50:50.399 --> 01:50:54.199 to pay one hundred times today to buy that share 2042 01:50:54.279 --> 01:50:58.000 price today. So you've got to do your own find out. 2043 01:50:58.159 --> 01:51:01.680 Ask your broker what is driving the airings? And do 2044 01:51:01.760 --> 01:51:04.319 you always search how does the company make money? If 2045 01:51:04.359 --> 01:51:06.800 you know how the company makes money, then find out 2046 01:51:06.840 --> 01:51:10.880 has that been affected by any government regulation, by competition 2047 01:51:11.479 --> 01:51:13.960 by anything that? Then ask you said, is going to 2048 01:51:14.000 --> 01:51:15.920 be a short term? Is it going to be a 2049 01:51:15.960 --> 01:51:18.399 long term? If it's a short term, make a decis 2050 01:51:18.920 --> 01:51:22.439 long term? Then's still and right away, yeah. 2051 01:51:23.840 --> 01:51:25.439 I can I communities, do you mind? 2052 01:51:25.760 --> 01:51:26.319 You don't mind? 2053 01:51:26.600 --> 01:51:29.520 So what affected their stock price from or was not 2054 01:51:29.640 --> 01:51:32.560 like any news like I think they had the stock splitz, right. 2055 01:51:32.880 --> 01:51:36.520 So the price of their ship came down what they. 2056 01:51:36.520 --> 01:51:41.399 Offered more shares. That's that's not if it's a stock split. 2057 01:51:41.520 --> 01:51:43.079 I had you said at the billing, but I told 2058 01:51:43.119 --> 01:51:45.319 you you were if it's a stocks but then there's 2059 01:51:45.359 --> 01:51:48.880 no change at all. You had ten shares at one hundred, 2060 01:51:49.319 --> 01:51:53.399 now you have twenty shares at fifty. There's no change. 2061 01:51:55.079 --> 01:51:55.279 Yeah. 2062 01:51:55.600 --> 01:51:57.720 What I'm saying is what I'm telling you that in 2063 01:51:57.840 --> 01:52:00.920 my in my account, the pricing go down. 2064 01:52:00.960 --> 01:52:02.359 I don't know, feel like I had to reach down 2065 01:52:02.399 --> 01:52:05.640 to the CU then what actually So it was. 2066 01:52:05.680 --> 01:52:12.399 Like saying that there's your needs like assigned it has 2067 01:52:12.680 --> 01:52:13.239 it has. 2068 01:52:13.359 --> 01:52:15.920 It had not do The CEO is the stock market. 2069 01:52:16.000 --> 01:52:19.399 So once they do is stock split, and the stock 2070 01:52:19.520 --> 01:52:23.159 split has occurred, it had not the company. Yeah, it 2071 01:52:23.319 --> 01:52:27.479 just happens, or your stock price would fall, but your 2072 01:52:27.600 --> 01:52:30.279 number of units would go up. So what you're asking 2073 01:52:30.319 --> 01:52:33.000 you on your c s c s. You want to 2074 01:52:33.079 --> 01:52:34.800 get those maybe your c s c S or a 2075 01:52:34.920 --> 01:52:37.880 physical certificate when you find out from the company what's 2076 01:52:37.960 --> 01:52:41.439 going to happen. But stock splits are not a falling price, 2077 01:52:41.840 --> 01:52:45.600 it's the market pricing. The cut in capitalization. It's not 2078 01:52:45.680 --> 01:52:47.640 the same thing as the company's and it's fall. No, 2079 01:52:48.079 --> 01:52:49.840 this is just the company is trying to make it 2080 01:52:49.920 --> 01:52:53.439 share price cheaper for investors to buy or pay you 2081 01:52:53.479 --> 01:52:56.479 a difidens. Yeah, that's what it was happening there. This 2082 01:52:56.600 --> 01:53:01.960 is problem is that, Yeah, exactly, it's your account, it's 2083 01:53:02.000 --> 01:53:03.640 not the stock per se. Yeah. 2084 01:53:05.960 --> 01:53:08.359 I'm also I think a lot of people need to 2085 01:53:08.680 --> 01:53:12.560 find that the Niger top market asnique for. 2086 01:53:12.640 --> 01:53:15.359 That mental So let me give you ze Blan. 2087 01:53:15.960 --> 01:53:17.279 I both say plats. 2088 01:53:18.000 --> 01:53:19.159 Saying that our uncle. 2089 01:53:19.960 --> 01:53:23.279 The reason I bought that was because it was the 2090 01:53:23.359 --> 01:53:26.720 company that had pictures that management. 2091 01:53:26.439 --> 01:53:30.119 It and this was the company that had the Also 2092 01:53:30.239 --> 01:53:32.199 this on the lord of stop exchange. 2093 01:53:32.520 --> 01:53:34.000 I think you look at and I. 2094 01:53:34.039 --> 01:53:37.399 Don't wanted to understand the upstream business, but look at 2095 01:53:37.479 --> 01:53:40.439 it now. The blood has reason too four thousand A. 2096 01:53:41.199 --> 01:53:44.680 Yes, I thought from my exposure, but I. 2097 01:53:44.680 --> 01:53:45.319 Still say that. 2098 01:53:45.840 --> 01:53:48.039 But what I'm trying to say is that you believe 2099 01:53:48.079 --> 01:53:48.479 we look. 2100 01:53:48.359 --> 01:53:54.800 At the valuation of Vision lands in place, I've not 2101 01:53:54.920 --> 01:53:58.199 done bad because the talk from that point is this 2102 01:53:58.239 --> 01:53:59.520 stem as don't ten. 2103 01:53:59.680 --> 01:54:04.239 X the next over one that you said. 2104 01:54:04.560 --> 01:54:08.479 You know because you chourage you that time, brother, you 2105 01:54:08.600 --> 01:54:14.760 can see you're you also need to look at what 2106 01:54:14.920 --> 01:54:18.640 the metal talk very right. 2107 01:54:18.960 --> 01:54:25.640 And if what you think about the founders that those 2108 01:54:26.720 --> 01:54:33.880 that metis revealed, Yeah, a little bit, good point. 2109 01:54:34.319 --> 01:54:36.199 The texts little the world go one up the next 2110 01:54:36.279 --> 01:54:38.960 ten minutes, guys, Let's get the guys here and have spoken. 2111 01:54:39.199 --> 01:54:41.720 Let's get s c h I. I can put that 2112 01:54:41.800 --> 01:54:44.439 that name s c h I. Then will get ready, 2113 01:54:44.479 --> 01:54:46.920 they will get official and then and then will get 2114 01:54:47.039 --> 01:54:50.920 doctor e U and then of course we get also 2115 01:54:51.119 --> 01:54:54.840 right now x x G is. 2116 01:54:54.880 --> 01:54:55.359 That you yes? 2117 01:54:55.920 --> 01:54:59.199 Yeah, go ahead, people quick one. 2118 01:55:00.399 --> 01:55:01.680 Someone for example, has. 2119 01:55:03.560 --> 01:55:07.199 Some amount of money and those who want to invest 2120 01:55:07.239 --> 01:55:11.640 in maybe I'm asking if I can invest in treas, rebuts. 2121 01:55:11.399 --> 01:55:14.600 Or phones, which would let me Let me ask you 2122 01:55:14.640 --> 01:55:17.560 a question. If I want to buy a car, we 2123 01:55:17.680 --> 01:55:18.319 cas should I buy? 2124 01:55:23.600 --> 01:55:27.720 I'm a bit confused because it's just like someone retiring 2125 01:55:28.000 --> 01:55:29.199 and getting. 2126 01:55:30.439 --> 01:55:35.199 This amount ex amount and you cannot just just go 2127 01:55:35.439 --> 01:55:37.880 and if you if you leave it with yourself, you 2128 01:55:38.000 --> 01:55:40.000 can waste it spending. 2129 01:55:40.119 --> 01:55:42.800 I'm asking you that if I want to buy a car, 2130 01:55:42.880 --> 01:55:43.760 which CAS should I buy? 2131 01:55:47.680 --> 01:55:51.319 You have to have specifics a few readings for buying. 2132 01:55:51.079 --> 01:55:57.199 The car word excellent, excellent, use this excellent answer. So 2133 01:55:57.560 --> 01:56:00.239 the same thing, right, if you have money, right, you 2134 01:56:00.359 --> 01:56:04.119 want to have specific you are investing, how long you're investing, 2135 01:56:04.399 --> 01:56:07.000 and why you want to invest that Those answers will 2136 01:56:07.039 --> 01:56:10.000 tell you you should you buy a treasury bill or 2137 01:56:10.039 --> 01:56:12.960 should you buy a stock. So look at it this way, right, 2138 01:56:14.279 --> 01:56:17.800 if you are going to invest for more than one year, 2139 01:56:19.000 --> 01:56:22.239 then you can buy stocks. If you are going to 2140 01:56:22.359 --> 01:56:26.479 want your principal back, whatever happens less than one year, 2141 01:56:27.000 --> 01:56:29.840 you should not buy stocks at all at all at all. 2142 01:56:30.560 --> 01:56:32.600 So those are like rules of the road. 2143 01:56:32.720 --> 01:56:32.840 Right. 2144 01:56:32.960 --> 01:56:35.479 So if you if I ask you how old are you? 2145 01:56:36.119 --> 01:56:38.680 How let me ask you the question when would you 2146 01:56:38.800 --> 01:56:41.960 want your principal back? Not there at alls? Your principal? 2147 01:56:42.119 --> 01:56:43.119 When do you want it back? 2148 01:56:47.039 --> 01:56:48.359 Sae yeo two? 2149 01:56:49.079 --> 01:56:49.359 Okay? 2150 01:56:49.560 --> 01:56:50.359 A year of two? 2151 01:56:52.199 --> 01:56:54.920 Yes? A year or two? Is letting mean think that 2152 01:56:55.039 --> 01:56:57.479 you want your fixed in comeback. You don't want you 2153 01:56:57.560 --> 01:57:00.520 just want your money back to you. Whatever happens one year, 2154 01:57:00.680 --> 01:57:03.079 two years, you want that money back exactly. You don't 2155 01:57:03.079 --> 01:57:05.520 want to hear I'm coming, abbe. 2156 01:57:08.319 --> 01:57:10.560 I think that's why I'm asking for treasure bills or 2157 01:57:10.640 --> 01:57:15.399 mutual phone something to have some time, I'm aswering your question. 2158 01:57:16.000 --> 01:57:19.039 I'm asking you a question. So again again, the neutral 2159 01:57:19.199 --> 01:57:23.159 funds can buy a treasury bill. So you're asking, like, 2160 01:57:23.399 --> 01:57:25.399 I don't want to use the wrong language. Your question 2161 01:57:25.479 --> 01:57:28.720 is kind of I'm not trying to be disrespectful for 2162 01:57:28.920 --> 01:57:31.960 it right, because the mutual phone can buy a treasury bill. 2163 01:57:32.279 --> 01:57:34.640 What you're asking is what type of fixed income should 2164 01:57:34.680 --> 01:57:36.720 you buy? Let me give you the answer. If you 2165 01:57:36.800 --> 01:57:40.720 want to invest for less than three months. Less than 2166 01:57:40.800 --> 01:57:43.640 three months, you can buy a treasury build for less 2167 01:57:43.680 --> 01:57:46.319 than three months. But the problem is that you don't 2168 01:57:46.399 --> 01:57:49.680 have the capital to buy it directly, so you want 2169 01:57:49.720 --> 01:57:54.439 to buy a money market mutual fund, which is your question. 2170 01:57:54.960 --> 01:57:57.920 So when you buy the money market mutual phone, the 2171 01:57:58.079 --> 01:58:01.640 money market mutual phones buys treasure bills, it buys bonds, 2172 01:58:01.760 --> 01:58:04.760 it buys lots of fixed income, but it's sells it 2173 01:58:04.840 --> 01:58:08.119 to you at a retail basis. So you are able 2174 01:58:08.199 --> 01:58:11.279 to invest in that money market mutual fund and buy 2175 01:58:11.800 --> 01:58:15.479 that and get exposure to treasury bills. If you want 2176 01:58:15.560 --> 01:58:18.079 your money back and you can wait for two years, 2177 01:58:18.520 --> 01:58:21.560 you can buy the federal government treasury bill. That one 2178 01:58:21.640 --> 01:58:25.880 pays about seventeen percent. It pays two to you quarterly, 2179 01:58:26.319 --> 01:58:30.520 so it's safe and it pays you the money is quarterly. 2180 01:58:31.039 --> 01:58:34.520 But the mutual fund it's easier, like you can go in, 2181 01:58:34.720 --> 01:58:38.800 you can come out, and it's retail Nigeria. Mutual funds 2182 01:58:38.920 --> 01:58:42.840 are development ones are five thousand nira minimum to buy. 2183 01:58:42.920 --> 01:58:45.079 I don't know how much you have to want to invest, 2184 01:58:45.560 --> 01:58:48.319 but the money mutual fune is okay for you because 2185 01:58:48.399 --> 01:58:50.720 those guys will buy the treasury bills and then you 2186 01:58:50.840 --> 01:58:54.279 can buy the money market that invest in treasury bills. 2187 01:58:54.640 --> 01:58:58.399 That's basically okay for you. Ask them if they fixed 2188 01:58:58.439 --> 01:59:00.920 in the return is fixed? Don't think it is. I 2189 01:59:01.039 --> 01:59:04.159 think it fluctuates because of the mutual phone. But the 2190 01:59:04.319 --> 01:59:07.920 federal government savings bonds, the rates are fixed. So you 2191 01:59:08.039 --> 01:59:10.760 must not clarify those two from your money market mutual 2192 01:59:10.880 --> 01:59:13.640 phone or from the fair government bond which you can 2193 01:59:13.720 --> 01:59:17.600 buy from a bank or stockbroker. But then I answer 2194 01:59:17.600 --> 01:59:22.520 your question, okay, thank you. 2195 01:59:24.279 --> 01:59:28.640 If wants to read now about investing, what books would. 2196 01:59:28.479 --> 01:59:35.640 You if you go from yeah, yes sure. If you 2197 01:59:35.760 --> 01:59:39.840 do hashtag finn plant books as f I N P 2198 01:59:40.199 --> 01:59:42.720 l A N books, you see lots of books that 2199 01:59:42.760 --> 01:59:46.760 I've curated on investing, very very easy books finn plant 2200 01:59:46.840 --> 01:59:49.319 Books hashtag thin plant books. It just gives you tons 2201 01:59:49.319 --> 01:59:51.319 of books there and there are very very books that 2202 01:59:51.359 --> 01:59:54.279 are easy to read and all that. Yeah. Good good 2203 01:59:54.319 --> 01:59:57.840 websites for you. Mortally full m O t l E 2204 01:59:58.119 --> 02:00:00.760 y f o o L, motorly Food is very very good. 2205 02:00:01.239 --> 02:00:05.159 Investopedia is very very good. You can subscribe to receive 2206 02:00:05.399 --> 02:00:09.880 daily financial terminologies and you can understand what they mean. 2207 02:00:09.880 --> 02:00:11.720 It's a very very easy side to go to a 2208 02:00:11.840 --> 02:00:16.000 read that's Investorpedia. Motly Food is very very good. Pro 2209 02:00:16.199 --> 02:00:19.600 share and love pro Share. The handle is Nigerian, very 2210 02:00:19.720 --> 02:00:20.079 very good. 2211 02:00:20.119 --> 02:00:20.800 You can go there. 2212 02:00:21.239 --> 02:00:24.199 They give you lots of broken down stop as well. 2213 02:00:24.560 --> 02:00:27.520 I think also on handles you can follow what's her 2214 02:00:27.600 --> 02:00:30.520 name assign it see I'm going to send you to 2215 02:00:30.680 --> 02:00:33.159 the handles O. Look, can you post there's there's a 2216 02:00:33.720 --> 02:00:38.399 tossin site Money Africa. Money Africa is very very good, 2217 02:00:39.000 --> 02:00:42.880 the school at Money Africa. There's also Shaddy that does 2218 02:00:43.079 --> 02:00:46.079 smart women investors. These are very very good site for 2219 02:00:46.159 --> 02:00:48.560 you as well that you can follow the Nigerian so 2220 02:00:48.680 --> 02:00:50.319 they can talk in that part with it for you. 2221 02:00:50.560 --> 02:00:53.800 Very Money Africa does courses. You can pay for and 2222 02:00:53.880 --> 02:01:00.119 then about finance. So yeah, if you give me, I 2223 02:01:00.199 --> 02:01:01.680 can send you all the handles. 2224 02:01:02.079 --> 02:01:02.680 Just DM me. 2225 02:01:02.840 --> 02:01:05.720 I'll send you after the space will post it. Just 2226 02:01:06.960 --> 02:01:09.359 ask me after this, after the post and I'll send 2227 02:01:09.399 --> 02:01:13.840 the handles you as well. Yeah. After is that. 2228 02:01:13.880 --> 02:01:18.039 You can actually this person? 2229 02:01:19.279 --> 02:01:23.279 Okay, go ahead, that's a good one. Go ahead, okay. 2230 02:01:23.319 --> 02:01:25.800 So that's all I have is going back to this. 2231 02:01:28.960 --> 02:01:33.520 Yeah, real quick, real quick. So going back to this okay, 2232 02:01:34.359 --> 02:01:38.680 not not ready, just hold on, be very very quickly. 2233 02:01:40.039 --> 02:01:42.720 Okay. So going back to the dollar bomb, dollar bonds 2234 02:01:42.880 --> 02:01:43.800 and treasure. 2235 02:01:43.479 --> 02:01:45.600 Views and Pella government is trying to flow. 2236 02:01:46.079 --> 02:01:49.560 So my question is would there float floating them they 2237 02:01:49.720 --> 02:01:52.239 still follow the cycles or is it a case of 2238 02:01:52.359 --> 02:01:55.239 the way they handle their treas treasures to speak, where 2239 02:01:56.399 --> 02:01:59.880 the commercial bands are used as the collecting bands war 2240 02:02:00.199 --> 02:02:01.920 the commercial bands getting. 2241 02:02:01.920 --> 02:02:04.079 Accossibly all the paps moving through. 2242 02:02:04.239 --> 02:02:07.520 The center bank and there you know from font manager 2243 02:02:07.640 --> 02:02:08.000 there you. 2244 02:02:08.039 --> 02:02:10.680 Know custodian custodian bank. 2245 02:02:11.079 --> 02:02:14.479 So that I'm answering this question because given that the 2246 02:02:14.800 --> 02:02:17.319 currency is not the Nian currency, and I'm worried that 2247 02:02:17.640 --> 02:02:18.479 dislution where. 2248 02:02:18.359 --> 02:02:22.680 There is no custodian there's no maybe defiant men will be. 2249 02:02:22.680 --> 02:02:24.119 There one for managers. 2250 02:02:24.960 --> 02:02:26.600 It will have the same it will have the same 2251 02:02:26.720 --> 02:02:29.199 rules to have the same issue house, the same rules. 2252 02:02:29.239 --> 02:02:31.800 It's just different currency. Yeah, no change, just the same 2253 02:02:31.840 --> 02:02:35.760 different currency but the same stuff. Yeah, yeah, that's an 2254 02:02:35.760 --> 02:02:39.359 easy answer for you. Yeah all right, ready, worth speaking, 2255 02:02:39.640 --> 02:02:43.119 it's the same issue the same guidelines, custodian issue house, 2256 02:02:43.119 --> 02:02:46.479 the same thing, just different currency. Yeah, there's actually an 2257 02:02:46.520 --> 02:02:49.439 issuing house and all that. Yeah, so ready you go ahead, ready, 2258 02:02:49.439 --> 02:02:50.159 go ahead. 2259 02:02:52.399 --> 02:02:56.199 Yeah, Olive, they are there and will thank you very 2260 02:02:56.279 --> 02:02:56.680 much for. 2261 02:02:56.720 --> 02:03:01.640 All the tangeria and range the level of the trading. 2262 02:03:01.760 --> 02:03:02.520 You guys are fast. 2263 02:03:03.439 --> 02:03:04.680 Let me go straight to the question. 2264 02:03:05.199 --> 02:03:12.119 I I converted my most of my money as sayings. 2265 02:03:12.199 --> 02:03:13.119 I converted. 2266 02:03:14.600 --> 02:03:16.520 And I'm giving them as as well. 2267 02:03:16.720 --> 02:03:19.600 And you know, I'll say so. 2268 02:03:19.720 --> 02:03:21.640 I now said, okay, I know how transition of just 2269 02:03:21.720 --> 02:03:26.600 getting it as dollars. Let me buy goal starting goals. 2270 02:03:27.880 --> 02:03:28.960 And I feel safe. 2271 02:03:29.560 --> 02:03:31.720 Is there anywhere you guys can advise me on how 2272 02:03:31.920 --> 02:03:32.479 I can. 2273 02:03:34.479 --> 02:03:37.840 Invest in gold without really having the physical goals? 2274 02:03:38.399 --> 02:03:39.239 I mean Nigeria as. 2275 02:03:39.199 --> 02:03:44.359 Sure as you understand, Yeah, you're in Google, you have 2276 02:03:44.479 --> 02:03:46.960 to invest in the Yeah, great question. You have to 2277 02:03:47.039 --> 02:03:50.680 invest in the security. So if you just google online, 2278 02:03:50.680 --> 02:03:52.920 I don't know. If you in Nigeria, there setting apps 2279 02:03:52.960 --> 02:03:56.479 allow you to invest in foreign issues securities. I think 2280 02:03:56.800 --> 02:03:59.800 there are second proved as. I know there's bamboo, and 2281 02:04:00.039 --> 02:04:03.319 know there's cali. Wise, I know there's shaka. So you 2282 02:04:03.479 --> 02:04:07.159 have to invest in a foreign denominated security. The only 2283 02:04:07.319 --> 02:04:10.000 Nigerian one I know. You said, you know there wasn't 2284 02:04:10.039 --> 02:04:13.960 name that is it gold new gold et F But 2285 02:04:14.079 --> 02:04:16.920 it's over priced. Now I think it's new gold ETF. 2286 02:04:17.600 --> 02:04:21.199 That wasn't it's over what's. 2287 02:04:24.960 --> 02:04:28.479 Yes, it's exposed to and that was why this talk 2288 02:04:28.720 --> 02:04:29.359 at some point. 2289 02:04:31.000 --> 02:04:36.119 So it's one of the jap still the same Japaul guy, 2290 02:04:36.279 --> 02:04:42.560 still that same guy. Yeah, but it's still the same guy. 2291 02:04:42.760 --> 02:04:47.079 Still the same guy. Okay, I don't know, but I 2292 02:04:47.119 --> 02:04:49.800 don't know. I don't know about that. But if you 2293 02:04:49.920 --> 02:04:52.640 want to do Nigerian issue, is that new gold, but 2294 02:04:52.720 --> 02:04:56.760 that one is very expensive. If you want to invest abroad, 2295 02:04:57.439 --> 02:05:00.479 just google gold e t F. There are many of them, 2296 02:05:01.000 --> 02:05:04.399 Google gold ETFs and you can invest in that e TF. 2297 02:05:04.600 --> 02:05:06.720 It buys the gold itself, so you don't have to 2298 02:05:06.800 --> 02:05:08.680 hold the physical goal. That's just the way you. 2299 02:05:08.680 --> 02:05:13.560 Want to do it probably many people. Is that for 2300 02:05:13.680 --> 02:05:14.960 those that go to invest. 2301 02:05:16.239 --> 02:05:20.720 Amount of equidity, So for example, are you going to 2302 02:05:20.960 --> 02:05:22.920 use the stress to invest or get to that? 2303 02:05:23.279 --> 02:05:24.079 By then the. 2304 02:05:25.800 --> 02:05:28.359 Very fee trans Actually what are you able to get? 2305 02:05:28.399 --> 02:05:32.960 A general so your level of it's like two thousands 2306 02:05:32.960 --> 02:05:36.199 a B two thousand dollars two three for gold band 2307 02:05:36.319 --> 02:05:37.880 now pernal. 2308 02:05:37.560 --> 02:05:38.239 That's what I'm doing. 2309 02:05:39.079 --> 02:05:40.279 You go to five. 2310 02:05:46.399 --> 02:05:50.560 Yeah, I mean mining stocks. If you buy the e 2311 02:05:50.720 --> 02:05:53.239 T so you can buy and sell if it goes up. 2312 02:05:53.279 --> 02:05:57.239 There's a big think. I think it's Bell Cram Jesus et. 2313 02:05:57.720 --> 02:06:00.680 You can buy g G that's the comment. It doesn't 2314 02:06:00.720 --> 02:06:04.239 buy just gold lord, it buys all commodities. Or you 2315 02:06:04.319 --> 02:06:07.359 can buy gold directly. If you just google gold ETFs 2316 02:06:07.439 --> 02:06:09.399 it will give you a ton of them, Bulkan gold, 2317 02:06:10.000 --> 02:06:11.960 many of them are there, very very liquid. You can 2318 02:06:12.079 --> 02:06:13.640 buy that if you want. That's just the way you 2319 02:06:13.680 --> 02:06:15.359 want to do it. If you don't want to hold 2320 02:06:15.359 --> 02:06:18.039 the physical goal per se, it's actually a better way 2321 02:06:18.079 --> 02:06:20.520 in my view than holding the physical goal. Where you're 2322 02:06:20.520 --> 02:06:22.199 gonna sell the physical goal, you have to go to 2323 02:06:22.560 --> 02:06:24.359 how do you sell the physical goal? But if you 2324 02:06:24.439 --> 02:06:27.439 hold the digital gold, you can sell the problem is 2325 02:06:27.479 --> 02:06:30.199 that male? This gold ETF don't actually hold gold. It's 2326 02:06:30.279 --> 02:06:34.079 all a synthetic. But I think it's a better way 2327 02:06:34.159 --> 02:06:36.800 for you, right guys, last few questions we've got is 2328 02:06:36.840 --> 02:06:40.479 it chickle? And we've got doctor EU and then we'll 2329 02:06:40.520 --> 02:06:41.399 go to the official. 2330 02:06:41.560 --> 02:06:50.479 This is a trick, I thought the mic. 2331 02:06:50.600 --> 02:06:52.680 I wanted to have a question, but I wanted to. 2332 02:06:52.640 --> 02:06:54.840 Support to what I was saying, and I wanted to 2333 02:06:56.000 --> 02:06:59.359 share just a few things my experiences a Nigeria marked 2334 02:06:59.479 --> 02:07:02.760 and market, you know, across the world for people, for 2335 02:07:02.840 --> 02:07:06.279 someone asking the question if it should invest. 2336 02:07:05.960 --> 02:07:08.039 In Nigeria or look outside. 2337 02:07:09.039 --> 02:07:10.640 And the limit I wanted I want to chime in 2338 02:07:10.760 --> 02:07:12.199 here and tell what you think. 2339 02:07:13.680 --> 02:07:17.399 For me, why I cannot enjoy an Uria market is 2340 02:07:17.600 --> 02:07:22.720 how the market react during market is lazy when it 2341 02:07:22.800 --> 02:07:27.079 comes to reaction to information. So in the US, if 2342 02:07:27.159 --> 02:07:32.079 something happens now doc market, as long as the market 2343 02:07:32.199 --> 02:07:35.479 is opened, even when market is closed, DOC market will 2344 02:07:35.560 --> 02:07:37.119 react immediately. 2345 02:07:37.760 --> 02:07:42.039 You will see it like if American presidents stays. 2346 02:07:41.800 --> 02:07:45.079 Something, or the fact president says something in the next 2347 02:07:45.840 --> 02:07:47.640 ten seconds, not even. 2348 02:07:47.479 --> 02:07:49.840 Not to one NAT, the market will react. 2349 02:07:51.000 --> 02:07:54.880 Something would happen in my Inderia that should affect the sector. 2350 02:07:55.800 --> 02:07:59.760 It will take three days two days at times one 2351 02:08:00.439 --> 02:08:01.680 before the market react. 2352 02:08:02.720 --> 02:08:05.119 That means, and I do react. 2353 02:08:05.159 --> 02:08:07.079 It's safer if you. 2354 02:08:07.199 --> 02:08:10.399 Keep your ears open, if you know what is happening. 2355 02:08:10.920 --> 02:08:12.880 Once you hear it happened, you. 2356 02:08:12.920 --> 02:08:15.760 Can actually react before the entire I get doted. I'll 2357 02:08:15.760 --> 02:08:16.560 give you an example. 2358 02:08:16.840 --> 02:08:18.399 But the days you mess up, he says, I'm not 2359 02:08:18.399 --> 02:08:19.119 about Japote. 2360 02:08:20.720 --> 02:08:21.720 Sorry, said is I'm. 2361 02:08:21.640 --> 02:08:23.199 Not gonna put my money Jampol anymore. 2362 02:08:23.279 --> 02:08:28.039 But when Japaul signed the contract to move from shipping 2363 02:08:28.159 --> 02:08:31.840 line to gold, it came up. I think it was 2364 02:08:31.880 --> 02:08:34.359 on my remetric or something. I had that control with 2365 02:08:34.439 --> 02:08:36.079 one of my friends. The next day we went in 2366 02:08:36.239 --> 02:08:38.560 big on Japote, but we went in that twenty five. 2367 02:08:38.680 --> 02:08:42.439 I went in that my average ing back cobble. A 2368 02:08:42.479 --> 02:08:45.680 few months down the line, jap Or hit about one 2369 02:08:45.760 --> 02:08:46.920 hour and twenty cobble. 2370 02:08:48.680 --> 02:08:52.039 Like we all smiled, but people did. 2371 02:08:52.000 --> 02:08:53.439 Not react for like one. 2372 02:08:53.359 --> 02:08:56.760 Week, and at some point someone was thinking, are you 2373 02:08:56.840 --> 02:08:57.319 sure this was. 2374 02:08:57.680 --> 02:08:58.199 Going to happen? 2375 02:08:59.399 --> 02:09:01.720 But we are look at it Chinese penpoting. 2376 02:09:02.119 --> 02:09:04.359 We analyze the risks we're going to go you so 2377 02:09:05.199 --> 02:09:08.319 you're a bit sliper going into this is my opinion. Right, 2378 02:09:08.680 --> 02:09:11.640 you're a bit sleeper going into Nigeria because Nigeria market doesn't. 2379 02:09:11.439 --> 02:09:14.560 React that quickly compared to foreign markets. 2380 02:09:14.640 --> 02:09:15.800 That's one dow. 2381 02:09:17.439 --> 02:09:26.680 Were you going to say something, okay, do you the 2382 02:09:26.800 --> 02:09:27.600 morning markets? 2383 02:09:28.000 --> 02:09:30.159 I would say this a colors, I would want to 2384 02:09:30.199 --> 02:09:35.600 part your opinion. Right, I make me and my friends 2385 02:09:35.800 --> 02:09:39.680 we are we are smiling better in Nigerian morning markets. 2386 02:09:39.800 --> 02:09:41.880 Italian American market is currently. 2387 02:09:42.800 --> 02:09:46.319 So I play with that bad because someone asking them 2388 02:09:46.319 --> 02:09:50.399 about technology house gone. You wouldn't believe it when you 2389 02:09:50.439 --> 02:09:52.159 sign up with them about marketing for them. 2390 02:09:52.119 --> 02:09:53.760 Or that, or work with just my brogra. 2391 02:09:54.239 --> 02:09:58.000 Right, So you say, I said you smile more with 2392 02:09:58.119 --> 02:10:03.159 the Nigerian phistical and America one now. For by the 2393 02:10:03.199 --> 02:10:05.039 past three months, the Nigeria one. 2394 02:10:06.079 --> 02:10:07.479 Yes, if not more so. 2395 02:10:07.920 --> 02:10:14.159 The money market has been above twenty percent in Nigeria FX. 2396 02:10:14.119 --> 02:10:16.880 Specifically some other people TITA. 2397 02:10:16.600 --> 02:10:18.840 Between nineteen eighteen eighteen. 2398 02:10:18.560 --> 02:10:21.760 Percent, but almost all of them are all above. When 2399 02:10:21.800 --> 02:10:25.600 you look at ICO, you look at the stamic. 2400 02:10:25.319 --> 02:10:27.680 A, b TC and all that, they are all about 2401 02:10:27.720 --> 02:10:29.880 twenty percent and by the past one one they've been 2402 02:10:30.000 --> 02:10:30.920 about percent. 2403 02:10:31.560 --> 02:10:31.720 Right. 2404 02:10:32.399 --> 02:10:33.800 So the money I have. 2405 02:10:35.279 --> 02:10:38.640 If you put money in America or in Europe. You 2406 02:10:38.840 --> 02:10:42.439 came to be presided, right, this bank will give. 2407 02:10:42.319 --> 02:10:47.279 You about four point one percent in America, in Nigeria 2408 02:10:47.359 --> 02:10:51.680 getting twenty two percent even with devol actility, even with 2409 02:10:51.840 --> 02:10:54.039 the devalue evaluation of the currency. 2410 02:10:54.279 --> 02:10:55.800 So we crunch the numbers and we go. 2411 02:10:56.520 --> 02:11:00.560 Even if it hits two thousand actually dollars, you are 2412 02:11:00.600 --> 02:11:01.159 still away. 2413 02:11:01.560 --> 02:11:03.079 I'm having it outside. 2414 02:11:09.279 --> 02:11:11.039 Things. Let me just quickly help him because we have 2415 02:11:11.159 --> 02:11:13.359 to just wounder if you don't mind it. So the 2416 02:11:13.479 --> 02:11:15.920 first one on when you say, the market to reacts 2417 02:11:16.039 --> 02:11:19.199 that that's actually an advantage and niger does not react 2418 02:11:19.239 --> 02:11:23.199 to this advantage because sorry, sorry. 2419 02:11:23.079 --> 02:11:26.880 Sorry, I'm just I'm directing my I was directing my 2420 02:11:26.960 --> 02:11:27.479 opinion to. 2421 02:11:27.520 --> 02:11:30.399 The guy that was asking a question, so for him 2422 02:11:30.439 --> 02:11:33.359 to be safe. So if you want to exist, if 2423 02:11:33.399 --> 02:11:35.680 you hear something that you really's going to affect the market, 2424 02:11:35.720 --> 02:11:37.920 if you want to exist and take your money, you 2425 02:11:38.000 --> 02:11:41.199 know with your profits in Nigeria you can easily do 2426 02:11:41.560 --> 02:11:42.279 the next day. 2427 02:11:43.079 --> 02:11:47.279 It depends on the liquidity. Right, that's the thing I'm 2428 02:11:47.279 --> 02:11:51.720 going to like. The US market is small liquid in Nigeria, 2429 02:11:51.840 --> 02:11:54.520 you might want to sell, not might want to sell 2430 02:11:54.600 --> 02:11:57.199 and not find a buyer just and you can look 2431 02:11:57.199 --> 02:11:59.720 at look at the volume. So I'm just giving you facts. Man, 2432 02:12:00.039 --> 02:12:02.079 look at the look at the volume. If you look 2433 02:12:02.079 --> 02:12:04.439 at nigral stock, you see a volume at the fire 2434 02:12:04.600 --> 02:12:06.880 end of the table. Chat look at the volume. Sometimes 2435 02:12:06.960 --> 02:12:09.800 it's very very little. So you see the price movement 2436 02:12:09.880 --> 02:12:12.960 to go up one hundred percent, but volume has gone 2437 02:12:13.079 --> 02:12:15.800 by ten percent. We tell you the price is too. 2438 02:12:15.840 --> 02:12:19.159 It's just one guy moving the price up. But in 2439 02:12:19.279 --> 02:12:21.479 the US it's hard to find one or two guys. 2440 02:12:21.520 --> 02:12:24.159 And I'm giving you for experience. You can move the 2441 02:12:24.279 --> 02:12:27.560 present Nigeria one guy, but it's difficult that yous. But 2442 02:12:27.640 --> 02:12:29.840 it's a good point about the twenty percent and the 2443 02:12:29.920 --> 02:12:34.479 four percent, it's four percent dollar, twenty percent NRA. It's 2444 02:12:34.560 --> 02:12:38.640 not the same feel so I know, yeah I don't 2445 02:12:38.640 --> 02:12:46.039 want me and yeah I get it, but it's very important. Yeah, 2446 02:12:46.119 --> 02:12:50.279 it's very important to understand it. It's different in the 2447 02:12:50.399 --> 02:12:53.279 entire I mean a currency, you've got to be able 2448 02:12:53.399 --> 02:12:58.000 to hedge for a longer time. Then I don't see 2449 02:12:58.000 --> 02:13:04.319 a dollar losing ten in a week or five percent 2450 02:13:04.399 --> 02:13:05.680 in the week. And then Ira did that. 2451 02:13:07.039 --> 02:13:10.119 So and I'm gonna give you I'm gonna give you honest, 2452 02:13:10.359 --> 02:13:12.720 i'most looking out of the I'm looking out of what 2453 02:13:12.920 --> 02:13:17.439 I'm doing. So you know, so if you put ten 2454 02:13:17.560 --> 02:13:24.680 dollars in your US right and you put you convert 2455 02:13:24.720 --> 02:13:27.600 that ten dollars, I'm putting in that Juri, one of 2456 02:13:27.680 --> 02:13:31.319 my kids. Right at the end of the month, you 2457 02:13:31.479 --> 02:13:34.760 crunch your numbers, you are almost over. 2458 02:13:35.039 --> 02:13:36.319 You will be almost over. 2459 02:13:37.680 --> 02:13:42.000 Or but you've got to go back to dollar. You've 2460 02:13:42.039 --> 02:13:43.520 got to go back to No. 2461 02:13:43.640 --> 02:13:46.279 No, no, no, yes, yes, people were going back to dollar. 2462 02:13:47.079 --> 02:13:48.199 And this is practical. 2463 02:13:48.279 --> 02:13:49.760 I'm not This is not feary. 2464 02:13:50.279 --> 02:13:51.239 No, it doesn't work. 2465 02:13:51.439 --> 02:13:56.399 No, no, bro, if it if that worked, right, see 2466 02:13:56.439 --> 02:13:56.880 what I'm trying. 2467 02:13:59.399 --> 02:13:59.960 No, I. 2468 02:14:01.600 --> 02:14:03.800 Don't want not argue. I'm not. I'm just trying to you. 2469 02:14:03.880 --> 02:14:04.039 Don't. 2470 02:14:04.119 --> 02:14:08.640 Let be very see if this was what you're saying, 2471 02:14:09.279 --> 02:14:11.760 you're talking a very volatile market. This will have to 2472 02:14:11.800 --> 02:14:16.600 pull a very big of the wor. That is not 2473 02:14:16.680 --> 02:14:19.199 a factual statement. And the point I'm making is that 2474 02:14:19.319 --> 02:14:23.399 if you say people should change dollar to nyra, yes, 2475 02:14:23.640 --> 02:14:26.039 one time. Look at the carried trade just collapsed two 2476 02:14:26.079 --> 02:14:28.640 weeks ago. The whole market in the whole world crashed 2477 02:14:29.199 --> 02:14:32.199 because exactly what you're saying is a carry trade. You 2478 02:14:32.319 --> 02:14:35.960 are boring from America to invest in Nigeria then to 2479 02:14:36.119 --> 02:14:40.239 convert back to America. That's a carry trade. And I'm saying, yes, 2480 02:14:40.399 --> 02:14:43.039 you make money, but be very put the risks out 2481 02:14:43.119 --> 02:14:43.920 there and say if. 2482 02:14:43.840 --> 02:14:46.960 You don't, some people, some people that are from Japan. 2483 02:14:48.640 --> 02:14:51.640 I'm not debating that this strategy that cannot work, and 2484 02:14:51.880 --> 02:14:54.159 just giving the risks to folks that listened, that listen, 2485 02:14:54.239 --> 02:14:56.359 if you do this, you are kind of risk that 2486 02:14:56.399 --> 02:14:58.640 when you want to go back to your dollar, the 2487 02:14:58.720 --> 02:15:02.800 Nira mould have moved and there's no profit anymore. It's 2488 02:15:02.840 --> 02:15:06.479 not a guaranteed strategy to borrow in the dollar and 2489 02:15:06.680 --> 02:15:10.319 invest in Nayra and then go back to dollar. That's 2490 02:15:10.399 --> 02:15:13.880 why they you have to increase interest rate to entice 2491 02:15:13.920 --> 02:15:15.119 pool to do what you're saying. 2492 02:15:15.800 --> 02:15:18.239 So the guys, let me be let me be as 2493 02:15:18.600 --> 02:15:19.239 clear as like that. 2494 02:15:19.399 --> 02:15:23.119 I'm not saying somebody should borrow, We not borrow. 2495 02:15:23.479 --> 02:15:27.000 Yeah, if you're not borrowing, that is, it's not that it's. 2496 02:15:26.880 --> 02:15:28.960 Not exactly exactly which is. 2497 02:15:30.960 --> 02:15:33.720 But I think people that borrow borrow money from I 2498 02:15:33.840 --> 02:15:36.079 got money from Japan, which is low. 2499 02:15:36.159 --> 02:15:37.439 You know, even before they push that. 2500 02:15:37.600 --> 02:15:41.439 Yeah, yeah, yeah, yeah, I haven't the money. 2501 02:15:41.279 --> 02:15:43.920 Back to the idea. All right, we got to go. 2502 02:15:45.000 --> 02:15:47.079 I mean again, it's it's all all about investing and 2503 02:15:47.199 --> 02:15:49.840 taking risks to points. I'm just trying to clarify. And 2504 02:15:50.000 --> 02:15:52.960 I'm not saying if you in an and and I said, 2505 02:15:52.960 --> 02:15:55.000 if you take money from your heelock and you buy 2506 02:15:55.039 --> 02:15:57.800 your federal bone, I say it extending. You are saying, 2507 02:15:58.159 --> 02:16:00.159 but you I'm not trying to put the guard was 2508 02:16:00.199 --> 02:16:02.840 there to pull the listen if you do this, remember 2509 02:16:02.920 --> 02:16:05.439 the risk is to go from naira back to dollar. 2510 02:16:05.600 --> 02:16:08.840 That's the risk Nira back to dollar. That's why we 2511 02:16:08.960 --> 02:16:11.359 had the FX market to Nigeria that I allow you 2512 02:16:11.439 --> 02:16:14.479 to hedge that position where you held it. The guys 2513 02:16:14.520 --> 02:16:17.720 that have bought CBN bonds seven has given them a 2514 02:16:17.800 --> 02:16:20.560 swamp so when they buy at the end of tend 2515 02:16:20.600 --> 02:16:22.399 are going to get back their money back at the 2516 02:16:22.560 --> 02:16:26.880 guaranteed rate. If you do this, fine, you can take 2517 02:16:27.000 --> 02:16:30.800 dollars one two percent, buy Nigerian fixed and come at 2518 02:16:30.840 --> 02:16:33.079 tenty percent, which is what the CBA wanted to do. 2519 02:16:33.520 --> 02:16:36.760 They wanted to bring your dollars from America to Nigeria 2520 02:16:37.360 --> 02:16:39.920 so they get an influence of dollars. When they get 2521 02:16:39.959 --> 02:16:41.680 the influ of dollars, they are going to pay you 2522 02:16:41.840 --> 02:16:44.079 that twenty percent. That's what they want you to do. 2523 02:16:44.719 --> 02:16:47.239 Then at the end of the year, would you go 2524 02:16:47.440 --> 02:16:50.200 back at twenty that Now we don't know that, right, 2525 02:16:50.319 --> 02:16:51.799 but this is what Nigeria wants you to do. 2526 02:16:52.319 --> 02:16:55.399 Since I hear you, we just have to I was 2527 02:16:55.440 --> 02:16:56.559 gonna I was gonna have a little bit. 2528 02:16:56.600 --> 02:17:00.239 I was gonna have to lot their question, right, I was, 2529 02:17:00.559 --> 02:17:01.280 I'm gonna say. 2530 02:17:01.159 --> 02:17:01.799 Something to you. 2531 02:17:03.360 --> 02:17:04.959 When when we talk about editing. 2532 02:17:05.200 --> 02:17:08.680 In my view, market right, it depends on who you 2533 02:17:08.799 --> 02:17:13.479 play with, right age and the brokers who actually give you, 2534 02:17:14.159 --> 02:17:18.120 who actually give you visibility for you to know the 2535 02:17:18.280 --> 02:17:19.879 level of biding and the level of. 2536 02:17:20.000 --> 02:17:21.280 Offer on the stock. 2537 02:17:21.840 --> 02:17:23.760 The worst case in the role, you can have to 2538 02:17:23.879 --> 02:17:25.959 be sent down and take your money and. 2539 02:17:27.280 --> 02:17:30.639 You get it everywhere everywhere gives it to you. Any broker, 2540 02:17:31.000 --> 02:17:33.239 the daily report of the stock exchange. Go to your 2541 02:17:33.280 --> 02:17:36.520 broker and ask for it. I mean, I mean you 2542 02:17:36.639 --> 02:17:39.879 can get it from anybody. Just ask your broker. I 2543 02:17:40.040 --> 02:17:42.639 want to see the live bid offer did you give 2544 02:17:42.680 --> 02:17:44.479 If you're a big boy, does she give it to you? 2545 02:17:44.920 --> 02:17:49.840 Ask them it's not it's not hidden information. Yeah, all right, 2546 02:17:50.559 --> 02:17:51.920 we're gonna go with whatever role. 2547 02:17:54.920 --> 02:17:58.040 Do we have any policy also a form of security 2548 02:17:58.079 --> 02:18:03.159 breaker in the market, because you see what happened with India, 2549 02:18:05.159 --> 02:18:05.360 is it. 2550 02:18:05.440 --> 02:18:09.920 We have that's the question. We have circuit breakers because. 2551 02:18:09.840 --> 02:18:13.120 We have people pinning that would say, for instance, your 2552 02:18:13.760 --> 02:18:16.600 go beyond No, no, no, no, we have second breakers. 2553 02:18:17.319 --> 02:18:19.399 Is I got to move on? I can't really literally 2554 02:18:19.520 --> 02:18:22.440 move on. I'm gonna transit. Yes we have secuit breakers, 2555 02:18:22.559 --> 02:18:26.319 and yes we have secuit breakers. We don't have market makers, 2556 02:18:26.799 --> 02:18:28.840 but we have second breakers, which means in the stop 2557 02:18:28.879 --> 02:18:33.200 for Placenta price, it's it's kicked off the you don't 2558 02:18:33.600 --> 02:18:36.040 that stock? Yes, we do that. And let me very 2559 02:18:36.120 --> 02:18:39.520 very quickly promise them to speak Dr Eu. Let's go 2560 02:18:39.680 --> 02:18:42.639 the doctor Eu. It's gonna be our last guy. 2561 02:18:42.879 --> 02:18:47.799 Sorry, I hi everyone, Thanks, thanks for the opportunity because 2562 02:18:47.840 --> 02:18:49.719 of it's the pleasure of being here. 2563 02:18:50.719 --> 02:18:53.079 I just I wanted them to share my views. 2564 02:18:52.959 --> 02:18:54.719 And add some Christians, but I think I'll just. 2565 02:18:54.760 --> 02:18:56.319 Go straight to the Christians since you. 2566 02:18:59.520 --> 02:19:01.760 My first question is around the. 2567 02:19:03.879 --> 02:19:09.639 Xagerial stock changing the equivalent for the U S SPFI 2568 02:19:09.760 --> 02:19:10.840 fundress index. 2569 02:19:12.040 --> 02:19:13.200 I don't have much knowledge. 2570 02:19:14.000 --> 02:19:16.479 They have a few they have. If you go online 2571 02:19:16.520 --> 02:19:19.680 to the n c X, look at the market they 2572 02:19:19.760 --> 02:19:22.719 have this. You see there's I B t C forty. 2573 02:19:23.280 --> 02:19:26.479 There are lots of the merry steam. Lots of folks 2574 02:19:26.559 --> 02:19:31.280 have created indexes. Think what it means about the it's 2575 02:19:31.360 --> 02:19:38.559 actually about like created like funds and all that. Yeah, 2576 02:19:38.639 --> 02:19:42.840 they have. There's Bettifa, Betifa has, Marry Stem has, ib 2577 02:19:42.959 --> 02:19:45.479 TC has, the Standard board. 2578 02:19:45.360 --> 02:19:49.479 Has Yeah, but did n G ex So if you look. 2579 02:19:49.360 --> 02:19:53.479 At standard stamping ib C. 2580 02:19:56.399 --> 02:19:57.920 You can pick those correct. 2581 02:19:59.399 --> 02:20:04.719 That's where we get more than about our market cap. 2582 02:20:05.360 --> 02:20:07.639 So very date and most of them. 2583 02:20:07.559 --> 02:20:18.680 Are depension equality, more efficiency and easy price discovery for 2584 02:20:18.840 --> 02:20:19.319 the stuff. 2585 02:20:19.399 --> 02:20:20.440 That's when in local. 2586 02:20:20.239 --> 02:20:24.920 Rests book at that yep, yep does answer your question, sir. 2587 02:20:25.559 --> 02:20:30.719 Yeah, yeah, that's that's very helpful. I think I will 2588 02:20:31.000 --> 02:20:31.879 DM you as well. 2589 02:20:31.959 --> 02:20:33.200 Those those. 2590 02:20:34.799 --> 02:20:39.680 The participant asked the question the earlier about investment, financial 2591 02:20:40.040 --> 02:20:41.520 literacy and understanding. 2592 02:20:41.959 --> 02:20:44.479 Yeah, sell it to me. If I'll respond to him, 2593 02:20:45.000 --> 02:20:47.959 just hurt me, don't they just hurt me. I'll respond 2594 02:20:48.079 --> 02:20:51.520 with all those handles I mentioned, the books, the handles, 2595 02:20:51.879 --> 02:20:54.159 I'll mention all of them in Nigeria, like I get 2596 02:20:54.200 --> 02:20:58.479 to nine, I'll do a separate tweet on that, so 2597 02:20:58.639 --> 02:21:00.440 you can have it all all ninet you people that 2598 02:21:00.479 --> 02:21:02.600 you really communicate with it and all that kind of stuff. 2599 02:21:02.639 --> 02:21:08.879 Yes, last, lastly, and there is this room or going 2600 02:21:08.920 --> 02:21:10.280 around not saying room or. 2601 02:21:11.959 --> 02:21:13.239 So if you. 2602 02:21:13.319 --> 02:21:17.399 Mentioned that it's MGS the coupon, there was a delay 2603 02:21:17.639 --> 02:21:18.159 the payment. 2604 02:21:18.639 --> 02:21:21.200 I don't know if it's I've gone through the news. 2605 02:21:21.239 --> 02:21:22.719 I've not founded anything around it. 2606 02:21:23.399 --> 02:21:26.479 All these are from people that have invested, that invests 2607 02:21:26.760 --> 02:21:29.840 in needs and they were mentioning there was I just 2608 02:21:29.959 --> 02:21:30.639 wanted to check. 2609 02:21:31.559 --> 02:21:33.920 Yeah, if it's a delay, I don't think it's an issue. 2610 02:21:34.079 --> 02:21:36.520 Maybe it's a delay one day. Perhaps maybe the issue 2611 02:21:36.559 --> 02:21:38.680 has well or all they pay on time. There were 2612 02:21:38.840 --> 02:21:40.799 cost and they pay on time. No problem to those 2613 02:21:40.879 --> 02:21:44.120 those guys. Yeah, that's the safest investment in Nigeria. That's 2614 02:21:44.120 --> 02:21:49.040 why the relators are lower. But a very very safe investment. Now, yeah, 2615 02:21:49.959 --> 02:21:50.399 I will. 2616 02:21:50.280 --> 02:21:51.799 Receive payments on those. 2617 02:21:52.559 --> 02:21:53.719 Or you got you got yours? 2618 02:21:54.639 --> 02:21:54.799 Yeah? 2619 02:21:54.879 --> 02:22:01.000 Yeah, excellent, yeah, perfect, perfect, perfect, all right, folks, I 2620 02:22:01.120 --> 02:22:05.239 do apologee, I got you all right. I do apologize, guys. 2621 02:22:05.639 --> 02:22:08.280 I'm like on a transit. I came for a wedding. 2622 02:22:08.399 --> 02:22:10.000 So I'm doing this out of the hotel room and 2623 02:22:10.079 --> 02:22:12.760 I have to go catch up flight. Like I do, 2624 02:22:12.959 --> 02:22:15.760 appreciate you guys, or call it in olimit it. I 2625 02:22:15.799 --> 02:22:17.959 can't thank you not for just being in here. Short. 2626 02:22:18.040 --> 02:22:20.360 This is once again just to talk and as you 2627 02:22:20.600 --> 02:22:24.719 educate us all our investments, opportunities, bond stocks and all that. 2628 02:22:25.000 --> 02:22:27.920 I appreciate it. All you folks out here, thank you 2629 02:22:28.040 --> 02:22:32.920 for always participating and being sure we say good stewards 2630 02:22:33.000 --> 02:22:35.719 of this point that we do give out. I'll see 2631 02:22:35.760 --> 02:22:37.879 you guys next week. 2632 02:22:38.200 --> 02:22:43.840 Have a good day and bye. I'm leaving the man