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Wallie's Posts

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Webmasters / Re: Pls Advice: A Developer Has Refused My Access To The Website Database I Paid For by Wallie(m): 2:39pm On Jun 23
Good day all.

I paid a developer to build and host a website for my company. The website was hosted with the developers name, which was the initial agreement, after which, he will transfer the account to my name.

Morning all,

I'm not giving him access to the Hosting cpanel because i dont want him to copy my codes, the site is not a ready made script, i designed and developed from scratch and this aspect was previously addressed in the contract.

The issue at hand here is one of copyrights and whether lincolnpix is an employee of subset. It is clear from their relationship that lincolnpix is not an employee but a contractor hired to create a particular website. Since lincolnpix is not an employee, lincolnpix owns the copyrights to the code unless he assigns his rights to subset.

I downloaded the contract attached to the link lincolnpix provided and a relevant portion states “We will give you a copy of all files and you should store them really safely as we are not required to keep them or pro- vide any native source files that we used in making them. … We own the XHTML markup, CSS and other code and we license it to you for use on only this project.”

From the clause above, lincolnpix did not assign his ownership rights to subset.

However, as a goodwill gesture and a good business practice, lincolnpix should give subset access to the cpanel as the website seemed just a little more complex than templates one could easily get code-access to. On the database side of things, which are just a bunch of tables, the developer should have provided subset with the database schema as part of the required documentation.

Overall, in my humble opinion as an attorney and an entrepreneur, the contract is somewhat ambiguous and does not spell out the actual deliverables apart from the templates, especially if the contract is worth NGN150M. Also, based on the NGN150M price tag, I’m guessing there’s a lot more to this contract than just some html stuff and that should have been included in the contract.

Subset, you should have required the following documents as part of the deliverables to help protect your investment even if lincolnpix will continually help you manage the website:
1. Software Requirement Specification
2. Software Design Document
- Preliminary design document
- Detailed design document
3. Test plan

Subset, without documentation that details every single aspect of the design and implementation, how are you going to continue future developments of your website if lincolnpix becomes unavailable for whatever reason? This is another reason lincolnpix has to deliver the source code because Subset should be free to hire another developer in the future to take over your development UNLESS lincolnpix EXPLICITLY stated otherwise in the executed contract.


Politics / Re: A Mathematical Analysis Of The Proposed N5000 Stipends For Unemployed Youths by Wallie(m): 9:39pm On Jun 17


Let's look at the government side. Yes, the government would spend money initially, but the government would later benefit from increased revenue through taxes from the effects of economic expansion.

The Americans started social security to tackle the inherent contradictions within the capitalist economic system. ...

One thing that people fail to realize is the condition that needs to be met before giving out the NGN5000. If I was in charge of APC, I will give out the NGN5k but require the recipients to file taxes first and the NGN5000 will be the refund given to people that earned below a certain amount even if they earned zero Naira. This will actually be modeled like the Earned Income Tax Credit in the US.

Why pay the NGN5000?
1. You now encourage people to file taxes which could be a way of getting people’s earnings out of the shadows. More IGR.
2. You can now start to compile true residents of states.
3. You can now have accurate census info because it will all be tied to an issued tax ID.
4. It will be harder for politicians to create people out of thin air because they will need to file taxes for each person.

The Earned Income Tax Credit (EITC) is a federal tax credit for low- and moderate-income working people…

Who Is Eligible, and for How Much?
In the 2014 tax year, working families with children that have annual incomes below about $38,500 to $52,400 (depending on marital status and the number of dependent children) may be eligible for the federal EITC. Also, working-poor people without children that have incomes below about $14,600 ($20,000 for a married couple) can receive a very small EITC. In the 2013 tax year, the most recent year for which data are available, over 27 million working families and individuals received the EITC.

The amount of EITC depends on a recipient's income, marital status, and number of children. As the figure shows, workers receive the credit beginning with their first dollar of earned income; the amount of the credit rises with earned income until it reaches a maximum level and then begins to phase out at higher income levels. The EITC is "refundable," which means that if it exceeds a low-wage worker's income tax liability, the IRS will refund the balance.
Politics / Re: Is The Ghanian Cedi Stronger Than Naira? by Wallie(m): 4:48pm On Jun 17

Great analysis. People fail to realise this when demanding for $1=#1 from buhari.

They only think about the buy side of the equation and not how their export-dependent government will be able to pay their next salary!

I guess the government can also just lob two zeroes off the Naira and rebase it. That will mean that a salary of N100,000 will now be N1000 and a loaf of bread will now be NGN2 instead of NGN200.
Politics / Re: Is The Ghanian Cedi Stronger Than Naira? by Wallie(m): 9:14pm On Jun 16
I got into an arguement with a friend about ghana cedi being stronger than naira ...I have heard about the redomination ghana did a few years back but dont know how it works ...I saw an exchange rate just now which shows d ghana cedi being stronger than the japanese yen. does that mean ghana has a stronger economy than nigeria and japan

No. As a country, you try to weaken your currency based on whether you're an import/export based economy.

If your economy is largely based on export, you want a weaker currency because it will make your goods cheaper abroad and when money gets repatriated to your country, you will have more of it in your local currency.

If your currency is strong, ideally, it should mean you're an import-based economy like Nigeria. For example, if NGN 1 = $2, that means that a car imported from the US at a cost of $100,000 will only cost NGN50,000 in Nigeria. The populace will be more prosperous.

In Nigeria, we need a carefully balanced currency peg because we are somewhat of an export-based when generating revenue but an import-based economy when consuming goods.

Here's a research topic for someone doing their thesis in economics: what should be the ideal peg of Naira to a dollar based on our current consumption? The answer will depend on how much we earn from exporting relative to how much we spend on imported goods.

1 Like

Health / Re: Samuel Achilefu Receives US Award For Inventing Cancer Goggles by Wallie(m): 7:30pm On Jun 16
Other patents (inventions) owned by the same Samuel Achilefu (St. Louis, MO)

1 8,658,433 Dye compounds as photoactive agents
2 8,344,158 Fluorescent polymethine cyanine dyes
3 8,318,133 Macrocyclic cyanine and indocyanine bioconjugates provide improved biomedical applications
4 8,053,415 Compounds having RD targeting motifs
5 7,850,946 Macrocyclic cyanine and indocyanine bioconjugates provide improved biomedical applications
6 7,790,144 Receptor-avid exogenous optical contrast and therapeutic agents
7 7,767,194 Optical diagnostic and therapeutic agents and compositions
8 7,758,861 Dye-sulfenates for dual phototherapy
9 7,608,244 Hydrophilic light absorbing compositions for determination of physiological function in critically ill patients
10 7,566,444 Versatile hydrophilic dyes
11 7,556,797 Minimally invasive physiological function monitoring agents
12 7,514,069 Tumor-targeted optical contrast agents
13 7,510,700 Pathological tissue detection and treatment employing targeted benzoindole optical agents
14 7,504,087 Receptor-avid exogenous optical contrast and therapeutic agents
15 7,468,177 Hydrophilic light absorbing compositions for determination of physiological function in critically ill patients
16 7,438,894 Dyes for organ function monitoring
17 7,431,925 Internal image antibodies for optical imaging and therapy
18 7,427,657 Aromatic sulfenates for type 1 phototherapy
19 7,351,807 Cyanine-sulfenates for dual phototherapy
20 7,303,926 Methods and compositions for dual phototherapy
21 7,297,325 Hydrophilic light absorbing compositions for determination of physiological function
22 7,252,815 Pathological tissue detection and treatment employing targeted benzoindole optical agents
23 7,235,685 Aromatic sulfenates for type I phototherapy
24 7,230,088 Compounds for dual photodiagnosis and therapy
25 7,201,892 Pathological tissue detection and treatment employing targeted optical agents
26 7,198,778 Tumor-targeted optical contrast agents
27 7,175,831 Light sensitive compounds for instant determination of organ function
28 7,128,896 Pathological tissue detection and treatment employing targeted benzoindole optical agents
29 7,011,817 Hydrophilic cyanine dyes
30 6,939,532 Versatile hydrophilic dyes
31 6,887,854 Compounds as dynamic organ function monitoring agents
32 6,761,878 Pathological tissue detection and treatment employing targeted benzoindole optical agents
33 6,747,151 Azo compounds for type I phototherapy
34 6,733,744 Indole compounds as minimally invasive physiological function monitoring agents
35 6,716,413 Indole compounds as tissue-specific exogenous optical agents
36 6,706,254 Receptor-avid exogenous optical contrast and therapeutic agents
37 6,673,334 Light sensitive compounds for instant determination of organ function
38 6,669,926 Hydrophilic light absorbing indole compounds for determination of physiological function in critically ill patients
39 6,663,847 Dynamic organ function monitoring agents
40 6,656,451 Indole compounds as novel dyes for organ function monitoring
41 6,641,798 Tumor-targeted optical contrast agents
42 6,485,704 Azo compound for type I pototherapy
43 6,423,547 Non-covalent bioconjugates useful for diagnosis and therapy
44 6,395,257 Dendrimer precursor dyes for imaging
45 6,280,703 Simultaneous multimodal measurement of physiological function
46 6,277,841 Quinoline ligands and metal complexes for diagnosis and therapy
47 6,264,920 Tunable indocyanine dyes for biomedical applications
48 6,264,919 Indocyanine dyes
49 6,228,344 Method of measuring physiological function
50 6,217,848 Cyanine and indocyanine dye bioconjugates for biomedical applications
51 6,190,641 Indocyanine dyes
52 6,183,726 Versatile hydrophilic dyes
53 6,180,087 Tunable indocyanine dyes for biomedical applications
54 6,180,086 Hydrophilic cyanine dyes
55 6,180,085 Dyes
56 6,013,243 Gaseous inhalable ultrasound contrast agents and method therefore
49 6,228,344 Method of measuring physiological function
50 6,217,848 Cyanine and indocyanine dye bioconjugates for biomedical applications
51 6,190,641 Indocyanine dyes
52 6,183,726 Versatile hydrophilic dyes
53 6,180,087 Tunable indocyanine dyes for biomedical applications
54 6,180,086 Hydrophilic cyanine dyes
55 6,180,085 Dyes
56 6,013,243 Gaseous inhalable ultrasound contrast agents and method therefore

120 Likes 14 Shares

Politics / Re: Amnesty Intl. Wants Ihejirika, Others Investigated For War Crimes - Thisday by Wallie(m): 4:24pm On Jun 03
First major international headache for Buhari! Unfortunately, he has no choice than to capitulate and offer those guys up because that stuff is not going away anytime soon, especially, since the US made it an issue in dealing with the past government. Funny enough, I actually do not see Nigeria on the current list of countries with arms embargo at the US State Dept.


By the way, very recently, the US also restricted weapons sale to Vietnam.
Politics / Re: China Illegally Fishing Off W Africa - Greenpeace by Wallie(m): 4:05pm On Jun 03

The real situation of Africa is best summed up by Buhari's quote:

'I belong to everybody, but I belong to nobody.' undecided

Man, that is a frighteningly apt quote!
Politics / Re: China Illegally Fishing Off W Africa - Greenpeace by Wallie(m): 3:21pm On Jun 03

More than 70 Chinese vessels have been found fishing illegally off the coast of West Africa, Greenpeace says.
In the most recent cases, the Greenpeace ship MY Esperanza, which sailed off Senegal, Guinea-Bissau and Guinea last autumn, documented 16 illegal fishing activities by 12 Chinese vessels.

It saddens me that we are too shortsighted to see the true implications of what is going on in Africa. We seem to only regard overt and explicit acts of harm as the only thing bad for us. I guess we will continue to show indifference until, in this particular instance, fishing communities become unsustainable and we pay through our nose to buy fish in the open market, and even then, we will gladly open our arms to welcome "help" from the people responsible instead of throwing them in jail!

Think about this for a second, you literally have to sail through the Pacific Ocean and Indian Ocean to reach the Atlantic Ocean! Unfortunately, we do not have laws or even manpower to police our shores!

1 Like

Webmasters / Re: My Advice To All Nigerian Developers by Wallie(m): 3:19pm On Jun 02

I charge clients high for projects now because I do the needful. I will encourage us developers to improve on our strengths, extend jobs for other experts to do their part to get a perfect product in time. With this, you can confidently bill clients several millions for projects and they will be glad to pay.

How much do you charge per hour? Can you also share your portfolio?
Business / Re: Nigeria's Hotels.ng Raises $1.2 Million by Wallie(m): 4:49pm On May 26
Glad to see Nigerians in Nigeria attracting outside attention in the IT sector!
Business / Nigeria's Hotels.ng Raises $1.2 Million by Wallie(m): 4:29pm On May 26
Nigeria’s leading hotel booking website, Hotels.ng, has raised $1.2 million from the Omidyar Network, the investment vehicle of eBay founder Pierre Omidyar, and EchoVC Pan-Africa Fund, a seed-stage technology fund.

Founded in 2013 by Nigerian entrepreneur Mark Essien, Lagos-based Hotels.ng aims to provide affordable, safe and convenient online bookings for Nigerian hotels for both tourist and business travelers. It currently has a listing of more than 7,000 hotels in 21 regions across Nigeria and has facilitated up to two million hotel reservations since its inception.

This is the second time Hotels.ng would be raising money. In 2013, Lagos-based business accelerator Spark, made a seed investment of $225,000 in the company. The company is already profitable, though Mark Essien refuses to disclose revenue figures. In a private email to this writer, Essien said his company plans to use the new funds to invest further in its technology capacity and in pursuing expansion into Ghana and French West Africa.

“We’re forging ahead into relatively uncharted territory; E-commerce in Africa is a massive market to conquer, but there are no hard and fast prototypes from which to follow; We cannot simply replicate Western models here; we have to build our own blueprints from scratch, which takes significant investment, both in terms of time and money. This additional capital will allow us to realize the next stage in our ambitious growth plans, which will see us consolidate our position as Nigeria’s market leader in online hotel bookings, with a view to expanding our service into other African markets, such as Ghana.”

Politics / Re: Lower Niger Congress Presenting Their Case At Us Congress W.dc by Wallie(m): 3:50pm On May 22
I think this is the way to go - advocating for change through non-violent means; however, I seriously doubt this is a hearing at the United State Congress.

1. Why obscure parts of the video that shows the speaker's periphery?
2. Why only show the speaker?
3. The moderator is CLEARLY not American and actually sounds Nigerian. Are you going to tell me that the US congress now has a Nigerian moderator?
4. The background does not look like the US Congress; looks more like one of the rooms that you can reserve from a local library.
5. How come the hearing does not appear on the Congress' calendar? http://www.majorityleader.gov/floor/#annual
6. No question from members of congress and/or their staff?


Car Talk / Re: KIA Motors Unveils Multi Billion Naira Plant (25,000 Cars/year) In Lagos by Wallie(m): 9:00pm On May 18

Its the nonsense we see in nigeria. Are all america industries in one state?

No but can you explain why certain industries congregate to one area? There are 50 states in the US but most industries congregate to a particular geographic area.

Financial industry - New York
Technology - Silicon Valley, Boston, NY
Agriculture - California, Iowa, Nebraska, Minnesota, Texas, Illinois, Kansas, North Carolina, Wisconsin, and Indiana
Automobile industry - Detroit
Oil & gas - Texas, California, Oklahoma, and Louisiana

Lastly, take a look at the article below to see what states do here in the US/

A look at incentives that 5 states competing for huge Tesla Motors' battery factory can offer
Published August 31, 2014Associated Press

LOS ANGELES – Five states are on the short list for a $5 billion factory that Tesla Motors plans to build so it can crank out batteries for a new generation of electric cars.

The package of economic incentives that each state offers will help determine where Tesla builds the factory — Nevada, California, Texas, Arizona or New Mexico. Tesla CEO Elon Musk has said the winning state will shoulder about 10 percent of the total cost, meaning at least $500 million worth of incentives.

Tesla already has done initial preparatory work on a potential site near Reno, Nevada, and plans to prepare one other site in coming months. A final decision is expected by year's end.

While officials in each state are keeping confidential the specifics of their packages, here is a look at the types of incentives and advantages each state can offer.


— Few taxes: No personal income tax, franchise tax, estate tax, inheritance or gift tax, and no taxes on corporate shares. No corporate income tax, although voters will decide in November whether to implement one to finance education — a move U.S. Sen. Dean Heller, R-Nev., said could undermine efforts to attract Tesla

— Other tax credits or breaks: Up to a 50 percent abatement on personal property taxes for up to 10 years; a partial abatement on sales and use taxes on capital equipment purchases; and a deferral of sales and use taxes on capital equipment.

— Worker training subsidies: Up to $1,000 per employee for job training if the company provides a 25 percent match, makes a five-year business commitment and pays at least hourly minimum wages.

— Other advantages: Proximity to the assembly plant in Fremont, California, where Tesla makes its cars; significant deposit of lithium, which is essential to making the batteries.


— Tax and hiring credits: Legislation passed this year offers a tax credit of 17.5 percent of wages for full-time employees for 15 years, totaling up to $31 million a year that could be split between a battery manufacturer and other industries including aerospace manufacturing. A hiring credit of 35 percent of wages is available if Tesla locates in a region that has high unemployment and poverty, for wages above certain benchmarks, until 2029.

— Sales tax exemption: New legislation waives the state's share of sales tax, 4.19 percent, on the first $200 million in equipment purchased.

— Waiver of environmental rules: Some lawmakers are advocating waivers on a host of California's complex environmental review laws that would allow for much quicker building permitting.

— Other advantages: Tesla already has its headquarters and car assembly plant in the San Francisco Bay area.


— Incentive funds: The Texas Enterprise Fund regularly gives companies incentives worth tens of millions of dollars to open facilities in the state, including $15.3 million to SpaceX, a commercial rocket company where Tesla CEO Elon Musk is also chief executive. The Texas Emerging Technology Fund, also run out of Gov. Rick Perry's office, has given $205 million to fund scores of technology startups.

— Other incentives: The state also offers tax refunds, exemption from state sales and use tax on electricity and natural gas in manufacturing.

— Other advantages: Cities and counties have made direct pitches to Tesla, highlighting for example how San Antonio owns its own utility and can provide solar and wind energy.


— Various tax credits or breaks: For investments by manufacturers, and the creation of high-wage jobs and renewable energy.

— Worker-training subsidies: The state pays up to 75 percent of new worker salaries for up to six months.

— "Closing fund": Local governments can tap public money to finance infrastructure improvements, such as roads and utilities, around a factory. The Legislature provided $15 million for the current fiscal year.

— Other advantages: State officials also tout a diminishing corporate income tax rate, low property taxes, rail connections to California and competitive electricity rates.


— Job training grant: The state may provide new employers up to 75 percent of the cost of employee training.

— Tax credits: A company can receive tax credits of up to $30 million for new manufacturing facilities, and a separate tax credit of $3,000 per new employee in each of the first three years. Tesla could qualify for a $5 million tax credit if it installs at least $300 million worth of renewable power capacity.

— Property tax breaks: A factory that is placed in one of seven foreign trade zones in the state gets a break of up to 80 percent.

— Sales taxes are waived for machinery or equipment used directly in manufacturing, and electricity or natural gas used for businesses engaged in manufacturing.

Car Talk / Re: KIA Motors Unveils Multi Billion Naira Plant (25,000 Cars/year) In Lagos by Wallie(m): 8:48pm On May 18
Perhaps, if you ever lived in saner climes- you would know that the government directs companies to different parts of the country once they feel a particular place is too congested. They can take it or leave it. You don't take up everything to the detriment of yourself.

That's why London is the way it's.

Not exactly. I can't speak to London per se but what you do is to zone an area. Certain types of businesses are not conducive within city limits due to pollution and/or danger. BUT almost every city, state or country ACTIVELY competes for industries to be located within their geographic limits especially if the industry does not have an undesirable environmental or moral effect on the local population because that means more tax revenue. More tax revenue means more money for schools, hospitals, fire stations, police, trash collection, clean water, etc.

The reason this does not happen in Nigeria is because most states are oblivious as to how to generate IGR due to the way the FG distributes “free” money at the end of the month! All the states have to do is to just sit there and wait for money to show up in their accounts at the end of the month!
Car Talk / Re: KIA Motors Unveils Multi Billion Naira Plant (25,000 Cars/year) In Lagos by Wallie(m): 8:36pm On May 18


So you see if you are the CEO of a major international organisation looking to invest vast resources in Nigeria you'd always take Lagos, Ogun state are the only ones taking Lagos business and that due of proximity.

For industry to spread effectively across Nigeria the national rail and toad network needs to be improved drastically, any company especially those trading in heavy finished products/ raw material , would need to be able to transport raw materials from port to factory safety, with ease and at cost, and distribute finished products , only rail can effectively enable that capacity inland.

That is how CEO and logistics management reason when choosing a location for hubs and factories, ever wondered why many companies have a logistics hub in Holland ! its within 3-5 hours of many central EU countries.

Car Talk / Re: KIA Motors Unveils Multi Billion Naira Plant (25,000 Cars/year) In Lagos by Wallie(m): 8:31pm On May 18
Someone asked why Kia built the plant in Lagos. People fail to realize that most businesses take long-term actions based on well calculated steps that would yield their desirable outcome, which is more profits.

If you're going to build such a long-term project in a challenging environment like Nigeria, you have to weigh the following factors:

1. Large pool of workers and graduates that can be trained – the plant cannot run itself.
2. Banks big enough to handle your transactions and provide you access to quick money – wire transfers to-and-from Korea and access to dollars will be critical.
3. Quick and cheap access to ports – you need to get your parts quickly.
4. Logistics
5. Infrastructure
6. Desirability of your location to your employees - if you build a plant in the middle of nowhere, a lot of people will not want to go there.
7. Favorable taxes and tax breaks – at the end of the day, nobody likes to pay taxes.
8. Security
9. Customer location – as a business, you need to be close to your customers.
10. Location of similar companies – you now have a pool of employees to poach from.

A combination of the factors above will determine your chosen location! Kia is in it to make money for their investors and you can be rest assured that whatever they plan will be based on sound business judgment and not emotion.

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Car Talk / Re: The Reason Why That Your Tokunbo Car Keeps Overheating Here In Nigeria by Wallie(m): 3:12pm On May 15
Engine Overheating? - 9 Steps to Solve

1 - Clean Coolant?
2 - Radiator Debris?
3 - Leaks?
4 - Air Burp?
5 - Lower Radiator Hose Spring?
6 - Electric Fan?
7 - Thermostat?
8 - Water Pump?
9 - Fan Clutch?


1 Like

Car Talk / Re: The Reason Why That Your Tokunbo Car Keeps Overheating Here In Nigeria by Wallie(m): 3:06pm On May 15
How Car Cooling System Works



Business / Re: Sponsor me to build a 3D house printer,and we'll split profit 50%- 50% For Life. by Wallie(m): 10:00pm On May 08
On to my main topic..
I have gotten an investor.. I would be having a long talk with him today or tomorrow.

I doubt you need my advice but here it is anyway -

1. Start with a small prototype as that will ensure that your resources are not wasted and you can learn from experience because even with the most detailed blueprint, there will be a lot of things to learn to pull it off. Things will never work the way it is planned and a million and one things will go wrong. Your goal should be to use your resources (money, time & material) to complete the first prototype and learn from it.

2. If you build your first prototype and it is "more" than just slapping a foreign made kit together, even if incrementally more, you will easily get the exposure that you need to build a real 3D printer (maybe even an industrial one that can build large objects). If and when you get a working prototype that YOU built and it is not a kit, reach out to me if you can't get the exposure that you need.

3. Consider building “parts” because industrial sized equipment is not needed.

4. I'm attaching some patents that should teach you some of the things that could be helpful.

Methods and apparatus for 3D printing

3D printing and forming of structures

Methods and Apparatus for Computer-Assisted Spray Foam Fabrication

5. Don't give up. Good luck!


Politics / Re: PWC Report Latest:CBN And NPDC Refused To Open Their Financial Statement To PWC by Wallie(m): 9:46pm On Apr 27

PWC should have refused to be part of this charade,I know they wanted to chop audit fees.This report holds no water and does'nt follow global standards I expect a query of the Nigerian office from the headquarters

If I were Buhari, I will make PWC refund the fees and punish them for being part of the charade! This is the type of stuff that they wouldn't dare do in western countries!

49 Likes 7 Shares

Politics / Re: PWC Report Latest:CBN And NPDC Refused To Open Their Financial Statement To PWC by Wallie(m): 9:43pm On Apr 27
I am wholly disappointed in GEJ and his administration! The least GEJ could have done was to ensure that the result was accurate! They just wasted whatever was paid to PWC and our time spent reading the worthless report! The report is not even worth the paper it was printed on!

54 Likes 4 Shares

Politics / Re: PWC Report Latest:CBN And NPDC Refused To Open Their Financial Statement To PWC by Wallie(m): 9:37pm On Apr 27
I don die!!! Is this the report that the government is basing their decision that only $1.48 billion is missing on?

Did GEJ miss the paragraph on the first page that said "The procedures we performed did not constitute an examination or a review in accordance with generally accepted auditing standards or attestation standards. Accordingly, we provide no opinion, attestation or other form of assurance with respect to our work or the information upon which our work was based"?

A lot of people will surely be going to kirikiri!

73 Likes 5 Shares

Politics / Re: US Daily Beast Exposes Tinubu As A Heroin Kingpin by Wallie(m): 4:04pm On Apr 27
this is front page material, Daily Beast is one of the US most respected papers

Really? Care to share any proof you have about the "Daily Beast [being]...one of the US most respected papers"? They are certainly a credible online news outlet but they are not even close to being one of the most respected by a long shot. They probably compete with the likes of The Huffington Post. With the little I know about the Daily Beast, I do not even believe that they do print "papers" like you stated.

http://www.ebizmba.com/articles/news-websites - Top 15 Most Popular News Websites | April 2015

http://en.wikipedia.org/wiki/List_of_most_popular_websites - List of most popular websites

1 Like

Politics / Re: US Daily Beast Exposes Tinubu As A Heroin Kingpin by Wallie(m): 3:47pm On Apr 27

Moreover, although Tinubu moved back to Nigeria in 1983, he neglected to file U.S. income tax returns after 1984 despite having sizable, interest-generating deposits in American banks. All of this was enough to persuade a magistrate judge of the Northern District to issue seizure warrants for Tinubu’s First Heritage and Citibank accounts. Collectively, more than $1.4 million belonging to the Nigerian was confiscated.


There’s no evidence that Tinubu was ever indicted for any crime. He eventually settled with the district court, turning over $460,000 of the seized $1.4 million, with the remainder released back to him.


The $460,000 was only seized because he "neglected to file U.S. income tax returns" and not because he was involved in shady deals.

1 Like

Politics / Re: What Is Your Policy Advice To The Buhari Government? by Wallie(m): 2:54pm On Apr 02
Were all dis problems not dere when he was in seat?
Still expecting the 1dolla to 1 naira

N1 to $1 parity will NEVER be possible because (1) inflation will go through the roof, and (2) the government will be unable to pay for anything within Nigeria including salaries. Think about it for a second.

This will mean the government’s income from oil sales will be reduced by divisor of 212 or whatever the current exchange is now.
For example, assume Nigeria made $1M from oil sales this month, if the exchange rate becomes N1 to $1, the govt will only make NGN1 million when they would have made NGN212 million before. How are they going to afford to fund a budget based on an income of NGN212 million with only NGN1 million?

Also, EVERYBODY will become x212 richer, which might sound great until you realize that everybody will now want to buy goods with their new found wealth and that will in turn reduce supply. When supply is low, price will go up until demand stabilizes, which will not happen until people start feeling like things are getting too expensive.

On the other hand
The government can simply rebase the Naira by lumping 2 zeroes off it. Essentially making NGN200 equal N2 but this will mean that we will never become an exporting country since our goods will be too expensive abroad.
Politics / What Is Your Policy Advice To The Buhari Government? by Wallie(m): 2:40pm On Apr 02
I'm resuscitating and repurposing a post of mine from a couple of years ago and retitling it.

1. Automatic 1 year jail term in a prison for hardened criminals for every $1 million stolen and also a life-term ban from politics and public office. To avoid jail, you will need to pay back 10 times the amount you're indicted of stealing. You can reduce your jail term by paying the jail term down. For example, if you return the $1m you are guilty of looting, your sentence will be reduced 1/10th of 1 year (1 month and 2 days). To avoid jail, you will need to pay $10 million as condition for your bail.

2. Breach of public duty not involving money will result in a punishment ranging from termination to a 3-month jail term. If it involves money, more time will be added to the 3-month. This is needed for public official that derelict their duty.

3. Former politicians will need to explain the source of their wealth otherwise they will forfeit what can’t be explained.

Taxes - nobody likes paying taxes but it is needed to develop the country.
4. Everybody will be issued a unique National Identity number. The number will be needed to get any service regulated by the government e.g schools, hospitals, electricity, traveling outside the country, opening a bank account, etc. The number will also be used to determine the number of people in each state.

5. Everybody over the age of 21 will have to file a tax return at the end of the year even if unemployed. The govt can keep track of the filed returns based on the unique National Identity number.

6. The federal tax rate will be a flat rate of 15%.

7. Every house will pay property taxes based on the size of the house and land but I would exempt rental properties of 4 or more units.

8. Every vehicle except commercial vehicles will pay road usage tax based on the size and year of the vehicle. Vehicles over 20 years will pay no taxes. Basically, my tax policy will tax the rich more because of their consumption since they buy the newer cars and live in bigger houses.

Youth Unemployment
9. Unemployed people can get up to NGN5000 for free after filing taxes.

10. The tax collecting agency will need more tax inspectors for tax auditing.

11. People will be audited randomly for paid taxes and if your lifestyle does not match your income declared on your tax return, you’ll be made to pay a penalty or face a jail term.

12. I will be building new prisons and they need to be staffed.

Mineral Resources
13. Mineral resources will belong to the owners of the land but will be taxed and controlled by the government.

Crude Oil Revenue
14. The current crude oil revenue sharing philosophy will be gradually phased out over 10 years and states will be encouraged to generate their own IGR. For each of the 10 years, the revenue to states will be reduced by 10% but the states can get it back by generating an equal amount of IGR.

15. Fee or subsidized basic healthcare for people under a certain age.

16. Federally funded technology centers and incubation centers will be created and built in all universities. Their staff will be federal employees and they will be evaluated yearly based on how many successful companies students created. Technology bulletins will also be created weekly from mined patent data to help solve common challenges faced by business owners and entrepreneurs.

17. Corporate taxes will be zero for the first 5 years for any company not in the oil sector that hires at least 100 people. For every year after that, the tax will go up 20% until reaching the normal corporate tax rate.

18. Imports of non-essential goods will attract additional import duty of 50%. Non-essentials goods include anything that is not required to sustain a life.

Selection of cabinet members
19. Qualified and experienced candidates will be encouraged to apply but each of the applicants will be tested and the position will go to the person with the highest score until he/she messes up and gets fired. I will then select the next person in line. No cabinet member will be selected based on tribe or religion except those that represent their tribe.

20. People in my cabinet will need to take personal responsibility for their subordinate's actions. If someone under you messes up, I'll be firing the both of you and your supervisor will get a warning. 3 warnings and the supervisor is out.

21. Every last week of the month will be devoted to cabinet members. I will need DETAILED briefing of what they did the month prior and what they're going to do for the following month. This will be matched to the plan the submitted at the beginning of the year for their department. You have to meet 80% of your objectives otherwise you're out.

22. I will create an Office of Verification and their job will be to verify EVERY single project that involves federal money. This verification will be independent of what cabinet members tell me.

New Edit***
Fuel Subsidy - controversial but needs to be dealt with
23. I think the fuel subsidy should be removed generally and should only be given to the needy in form of monthly payments. Think of it as a welfare/safety net system, if you will. However, it should only be given to people that file their taxes for the current year. For people having zero income, they should still be made to file their taxes declaring zero income. The payments should be graduated for people of different income brackets.

For example:
Salary of NGN 0 – 36K should get 100% of the monthly subsidy payment
Salary of NGN 36.01 – 60K should get 75%
Salary of NGN 60.01 – 75K should get 25%
Salary of NGN 100K plus should get 0%

This way, there is little to no benefit smuggling fuel into neighboring countries and also wasting money subsidizing fuel to the affluent. More taxes revenue will be generated by the government from people wanting State benefits, while making sure that the needy will not surfer.

24. Exactly why are we still importing fuel? Buhari need to reserve a month for meetings with EVERY single director in a position of power at the NNPC and the refineries. Those found wanting or less than truthful should be made examples out of.
Politics / Re: Barcanista And The Promise Of Ministerial Aide by Wallie(m): 9:31pm On Apr 01

I accept his explanation that he may not have been offered any inducement to "port", but I think people without ideology and don't stand for anything are the ones that move from one camp to another. Consistency of political beliefs is key for me

People become jaded or disillusioned in politicians for different reasons but it usually happens when the politician that they support fails to deliver on promises made. Whatever reasons the OP, an ardent supporter of Buhari had for switching candidates midstream, even before Buhari had an opportunity to prove himself, is best known to him. However, I do agree that the switch showed waffling tendencies. You simply cannot just switch-off or switch-on your convictions like a light bulb because it happens over time.

More importantly, I think this is a lesson to blind followers of personalities. You never really know the true motivation of your “leaders” or their bias. Learn to think independently so that whatever decision you make, even if it ultimately aligns with that of your leader, is mostly of your own volition.

I think the OP might be caught in a scenario where his online persona overlaps his real identity, and he has no choice but to clear his name because some people know who he is.


Politics / Re: Should General Buhari Probe President Jonathan? by Wallie(m): 2:54am On Apr 01
Yes but in the following order:

1. All of those that were indicted and reports were submitted. This should be a low hanging fruit to set the tone.
2. Then NNPC, power sector, and the refineries because they're too important to ignore.
3. Next in line should be all of those that think immunity shields them.
4. Lastly, the current administration.

1 Like

Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 10:07pm On Mar 31

Fine! All Nigerians vote (or have voted) clannishly/religiously at different times in history. It depends on what's at stake for them. At the moment, the Yorubas have deviated from the norm and voted in a more balanced fashion and they get my credit for that.

True democracy is relatively new to us but there's no doubt that the smarter ones among us grow sophisticatedly with each passing election. This election will surely teach some politicians how to strategize in order to win this game of numbers that we call democracy.
Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 9:52pm On Mar 31

Could you tell me why far more northerners voted for Buhari than GEJ?

I told you that already in my first post quoted below.


...Until most Igbos, and other clannish Nigerians, evolve as a group and support a candidate/party based on merits, this type of problems will always occur. By the way, most Hausas have the same problem....
Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 9:48pm On Mar 31

...Otherwise, how come they sat at home and not vote for Buhari during the last election when Buhari chose a ''less- compliant'' Bakare?

I think this is attributable to the Not-GEJ syndrome. I think people are just genuinely tired and want change.

Anyway, don't let me derail your thread.

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