₦airaland Forum

mcafeez:
Omo see that pretty babe.... If she go wear gown now, u won't know u at f*cking deity... Meanwhile, ayam proudly osun born..... #HailMac

Wetin dey deitish in a girl wearing lipstick? You go nack am laga, nothing go happen.

I must admit that cultures differ otherwise what came to my mind was what informed that sense of entitlement in the name of settlement?

What was your growing up like? Did other members of the family forsake education so that your parents could concentrate the family resources on only you? In that case, it may be justified that you bring them up too.

But if your ‘sin’ is that you ‘made’ it faster than other family members, then call their bluff. If they don’t attend your wedding, what gives?

Why should your parents support them in such blackmail? There must be more to it.

jacyhelen:
so if a man can buy a car for 3.5 million,is it liecence that will be hard for them?

The comparison is irrelevant here.

Broadcasting license is the starting point. Without license, they will be regarded as a rogue station.

There are many issues govt will consider in granting the license, not just ability to finance the set up. You think Radio Biafra would have been granted a license even if Kanu had applied?

License fee may also be enormous. License fee alone is one of restraining factors in setting up telecom company even though that of re-broadcasting stations will be less than telecoms.

If TSTV had not got a license till now, what was the basis of fixing October 1st to start business? Was it planning to operate illegally?

AutoReportNG:
Whats your take? I weep for Nigeria.

Modified: I think there is lots of confusion as to TSTv, from what I gathered, they are yet to get lincense from the NBC..

This is developing.. More coming soon

Read more here...

http://www.autoreportng.com/2017/09/tstv-cabals-frustrate-tstv-launch.html

Even the so-called May Ubeku that started the nonsense accusation of the imaginary cabal doesn’t even know anything about the processes involved.

Thank to professionals like Zeb Ejiro for calling her out and expose her emptiness.

TSTV will either succeed or fail based on its contents not any imaginary cabal.

PDPGuy:
Mtcheww. Much ado about nothing.

Yes, the ticket may cost 800 GBP (over #360,000) which is quite high, but it is still a World Traveler ticket. So, do not expect to be fed 2 or 3 plates of beef, chicken or rice. And you can't expect to be served alcohol, in economy class, on all airlines.

At bolded. You are wrong on that.

Emirate Airline will even serve you in bottles and not only do you have choices, you can always ask for more. Qatar and Etihad also serve alcohol in economy.

hornyofife:
does homeland differences necessarilly mean biafra? kayode have twisted it and the zone Bs before are masturbatin over it....smh.

it could be deal gone wrong, it could be personal quarrel...afterall we see videos of Edo boys fight themselves on the street of Italy....Kayode has always been a ful and propagandist.so i dont take him serious

Didn’t you the the sub-heading “What is Biafra issue?” in the newspaper?

Frankdamaxx:
The more you look the less you see.

It's still owned by their people. They don't want to pay duty so the cars are seized and auctioned off to the same owners at a bargain price.

If this is not so, ask where all the exotic cars they have been seizing are? Abi is it me and you that will bid for these ones when they want to auction it?

The cars were seized from the dealer’s lot. Kefiano Motors in Central Area Abuja.

Wetin cat dey pack, wey war meet am for a place?

Those planes, don't they have pilots?

How come the hurricane met them on ground even with all the detailed advance warnings that showed the path and speed of the hurricane?

paBuhari:
If someone disrespect your wife that person is disrespecting you! - Wisdom of Life.

Your employees disrespect your wife and call her "suicide bomber" and you call yourself a president Is that one a president? Buhari is a dunce and a puppet. No doubt Mammam Daura call the shots in Nigeria. This goes to show how Buhari's employees (cabals of aso rock) sees him in real life - a suicide bomber.

Those people are not Buhari's employees. Daura is his uncle (in African classification, an older brother) who has been looking after Buhari for long.
Tukur is one of the intelligentsia of the kaduna mafia and mentor to Buhari.

They both don't hold any official position in his government but they are the go-to men.

Spot the difference...................

lightblazingnow:
Bukola Saraki Is Not The Senate


The constitution says the President shall transmit a letter to the SENATE to leave and to resume as President.

The Senate President is not the Nigerian Senate. Until President Buhari’s letter is read on the floor of the Senate, he hasn’t returned and as such can’t resume as President of Nigeria.

To put it succinctly, in the eyes of the law, President Buhari has not returned. The man who returned was Mr. Buhari; a private citizen.

I’m happy that Mr. Femi Adesina has accepted that the transmission letter for President Buhari’s resumption would have come before his appearance on NTA.

Therefore I would urge Nigerians to disregard the speech by Mr. Buhari as the President’s speech.

The man who addressed you on NTA was a private citizen like you, who hurriedly left his hospital bed to a nearby TV station.

The Presidency should not apologise to us; when it still has the opportunity to do the right thing.

We look forward to another speech from President Buhari, after the SENATE not Saraki, considers his resumption letter.

Though your post is irrelevant to the thread, it is better to reply you and cure your ignorance.

Section 145 does not require the president to write the senate or the house either when going on vacation or returning from same.

It says:

Whenever the President transmits to the President of the Senate and the Speaker of the House of Representatives a written declaration that he is proceeding on vacation or that he is otherwise unable to discharge the functions of his office, until he transmits to them in written declaration to the contrary, such functions shall be discharged by Vice-President as Acting President.

The president is not seeking permission, he is only informing them.

freddywells81:
Calculating ...he doesn't want to present anyone before the house of reps,I guess

Law doesn't require any nominee to be presented to the house of reps but if you mean the senate, they have already been presented long ago but the senate is yet to take action.

jakD:
What did you expect?
Even him that appointed, he's still ACTING as President... So, let everyone keeps acting.

Paperwhite:
Yet this midget of a VP as well as the deluded zombies at all levels associated with this evil government keep masturbating that Osinbajo is in charge.Meanwhile himself and his appointees are as usual functioning in acting capacity.APC reduced governance to a circus show.

Are you being deliberately mischievous or really ignorant?

Constitution demands senate clearance of the nominees. Four of the listed nominees of the national pension commission were actually nominated by Buhari himself since late March 2017 and they were yet to be cleared by the senate. Recall Chinelo Amazu removal saga.

The nomination of other people on the list was done by osinbajo in June this year but the senate went on recess without considering any of the nominations including the one made by Buhari because of the face-off over Magu.

Since the dissolution of pencom board, civil servants have been acting while there is no provision for civil servants to act in the case of code of conduct.

What osinbajo has done is legally jumping the gun by asking the nominees to start functioning pending when the senate that already has their nominations confirm their appointments. The legality of this action is debatable and I think the senate will challenge it. Again recall the case of one Gbajabiamila who resumed duty as the chief executive of lottery commission pending senate approval.

godquality:
I looked at this list, then looked again, then borrowed my neighbour eyeglass to looked again. Then realise why the igbos want Viagra abi Biafra. See the marginalization. Even me wey be Bendel pikin feel sorry for them.

Govt want tell us say no competent igbo person again? Or why dem no plenty for the list? All this useless politicians are not even doing anything to bring a lasting peace to this country.

How many igbos were you expecting to see there?

For national pension commission, there are 6 national commissioner positions which by law setting up the commission, must be filled by the 6 geo-political zones. Anyim is the nominee from the SE.

For code of conduct, Nwanli and Okpanachi sounds igboish to me (subject to correction sha)

alt3r3g0:
I knew this was a scam to get rid of the Abu Dhabi partners all along.

There is no better deal you can get from what the original partners were proposing.

masada:
them don use style drive etisalat
now they know how to remove bad debt

etisalat sef dey do like ajebo
how did they think mtn survived this long

I hope you understand that making a provision for a loan is a loss to the banks? If all the concerned banks make at least 30% provision, that is N131 billion loss on just one loan in one year.

How is this beneficial to the banks and its shareholders for them to be accused of scamming?

Sunofgod:
They must be Igbo.....

Factfinder1:
Who gave him such powers Seems the cabals were sleeping when this one happened or the 2 sacked persons are not northerners Nigerian government only sacks without probing to recover stolen funds that's why other loot to cos they know they will b sacked if caught and would be allowed to go enjoy the lot

They are northerners

1. Mrs Maimuna Aliyu was Executive Director at Aso Savings & Loans Plc up to 2014 when she retired. Aso savings is being investigated by icpc in respect of some GEJ era funds that passed through the bank.

2. Mr Za'ad Alanuma was the Chairman of the Governing Board of Kwara State College of Education. His board tenure is under investigation. He is likely to be Saraki's candidate being from Kwara.

Ibukun003:
Stanbic cool...364 days at 18.48%

Mine is 18.43% oo. They don cheat me.
They must vomit that 0.05% by fire, by force.

TONY56:
You have been very wonderful with the way you tried to explain this compounding interest of a thing to people BUT it appears you made a mistake in paragraph 2.

Your calculation on the 1st discount reinvestment is correct but after re investing the N180,000 at same 18%, your next principal should be the discount you get on the N180,000 which is N180,000-N147,600=N32,400 and not N180,000-N32,400.

So, 2nd discount reinvestment should be N32,400 x 18% =N5,832.

your 3rd discount reinvestment will be N5,832 × 18% =N1,049.76.

Your 4th discount reinvestment will be N1,049.76 × 18% =N188.9568.

Your 5th discount reinvestment will be N188.9568 x 18% =N34.81.

Up to this point, we already have N(32.400 + 5.832 + 1.049.76 + 188.9568 + 34.81) =N39.504.729. So, when you continue like that till you get zero and add all the interests together, you'll get very close to the N40,000 we are talking about and adding it to the initial interest of N180,000 gives total compounded interest of N220,000 on investment of N1,000,000 for one year at the rate of 18% and people should note that they have decided to postpone the collection of their interests by so doing and that's why they would be getting N1,220,000 at the end of the tenor of 364days instead of N1,000,000 that others who received their N180,000 up front will receive.

As I said earlier, you did a beautiful job but I think somewhere along the line, you just missed that step.

Bravo!!!

Thank you Bro. Just looking at it again, I am like, what was I doing? Disadvantage of multitasking

I have made a post script correction to the initial post with due credit to you. Thanks.

ugoelvis1:
Is this compound interest approach applicable to other banks like first bank? Or only on stanbic bank alone

Yes in principle. If you see the formula put by Desanta up there, it applies on all occasions.

The difference is that, in case of first bank, you just tick the option for reinvestment and they do the calculations for you. In case of stanbic, they don't give such option, so you must do the homework yourself before approaching them.

Desanta:
(Principal x 100)/(100 - interest or bid rate).

77365052The above gives you an idea of the amount to have in you account.

unite4real:
That formular for NL1960 is perfect. you are so wrong in your calculation.

it should be (1,000,000 * 100)/ (100 - 18)
100,000,000/82 = 1,219,512

These formula and solution deserve 1.2m true yield likes

PhilJames:
Hello house,

Please can the 40k+ gotten from an investment of 500k for 182 days be reinvested in the same bid?

Maybe using the face value?




Cc: 2n2k

Yes but the hypothetical example was made using a year tenor. The effect for 182 days will be roughly halved in absolute amounts.

Gavrelino123:
seems i will transfer my academic nick name "001" to you....#2n2K#

Since it comes with big money from kpmg, I will accept o

Investnow2017:
Thank you for the patient explanation. I think I misunderstood you initially. Yes, that is what i do in my spreadsheet too. Maybe I was reading and my mind was dwelling on something else. Oh! how the mind works when it is close to auction day and you need that fund to take advantage of these robust true yields season

As the inflation numbers drop, I have this feeling this harvest season is only a matter of time.

I asked a question earlier. Is it economically right to expect Treasury Bills to always enjoy a rates higher than the inflation rates? Because some fear that as the inflation rates are dropping so will those of Treasury Bills.

Will there always be a palpable link or has there ever been times when Treasury Bill rates fell lower than inflation rates? Wish you could bear your mind on this too @2n2k

Theoretically, interest rate is supposed to be above inflation rate, otherwise, there is no incentive to save.

Currently, the TB true yield (not discount rate) at around 21 - 23% on 364 day tenor is far above the inflation rate which is an unmerited over-incentive to save and there must be other underlying reasons for that, known only to the powers that be in the cbn.

Last week, somebody in cbn said, the high rate is to attract diaspora investment in TBs. I don't know how that is achieved or its success rate when you factor in forex fluctuations risk.

For now, the discount rate has not been following the downward trend of inflation rate as expected. This is Nigeria anyway.

NL1960:
Nice one. Is there a formula for achieving this such that when you slot in any amount, you arrive at a figure.

I think somebody put up a spreadsheet formula here in the past. Don't know whether it was taken down

But a simplified approach is to get the effective interest rate or true yield by dividing your discount amount by the discounted principal multiply by 100. This gives you true yield which will always be higher than the discount rate.

Now apply the formula ((1+(true yield/100))x the investment amount you have in mind, that should give you a new face value that you should bid for to achieve your target.

Fm4real06:
You have really tried on this ur analysis. But i have few questions?
1. Does it mean stanbic wont debit ur account with the amount invested till maturity date. I.e they will hust freeze d money?
2. Hw did u arrive at 40k in ur calculation?
3.at the bolded, hw will they credit ur account with 1220000 after teceiving upfront interest?

1. They will freeze before the bidding date and debit you with the discounted principal a day after the bidding date (not maturity date) if you are successful. The discount itself will not be debited. At maturity, you will be credited with the face-value.

2. A long process but shortened there
1st discount reinvestment: 180,000 x 18% = 32,400. New principal =180,000-32,400 = 147,600
2nd discount reinvestment: 147,600 x 18% = 26,570. New principal =147,600-26,570 = 121,030
3rd discount reinvestment: 121,030 x 18% = 21,785. New principal = 121,030-21,785 = 99,245

If you continue with the calculations, the new principal and discounts receivable will continue to decrease till you get zero. At that point, if you add all the discounts, you will get N220,000 in total. If you deduct the initial N180,000 from it, you get N40,000. Of course, in the exam hall, there is statistical formula to shorten the steps, but many people may be put off by that. So that is the lay-man process.

3. Since the whole investment is N1m (after reinvestment of discounts), the face value is no longer N1m but N1m plus the 220,000 interest reinvested, so the face value due at maturity is N1,220,000

PS: TONY56 has drawn my attention to the wrong steps in the workings in paragraph 2 above and has provided the following correct solution

You have been very wonderful with the way you tried to explain this compounding interest of a thing to people BUT it appears you made a mistake in paragraph 2.

Your calculation on the 1st discount reinvestment is correct but after re investing the N180,000 at same 18%, your next principal should be the discount you get on the N180,000 which is N180,000-N147,600=N32,400 and not N180,000-N32,400.

So, 2nd discount reinvestment should be N32,400 x 18% =N5,832.

your 3rd discount reinvestment will be N5,832 × 18% =N1,049.76.

Your 4th discount reinvestment will be N1,049.76 × 18% =N188.9568.

Your 5th discount reinvestment will be N188.9568 x 18% =N34.81.

Up to this point, we already have N(32.400 + 5.832 + 1.049.76 + 188.9568 + 34.81) =N39.504.729. So, when you continue like that till you get zero and add all the interests together, you'll get very close to the N40,000 we are talking about and adding it to the initial interest of N180,000 gives total compounded interest of N220,000 on investment of N1,000,000 for one year at the rate of 18% and people should note that they have decided to postpone the collection of their interests by so doing and that's why they would be getting N1,220,000 at the end of the tenor of 364days instead of N1,000,000 that others who received their N180,000 up front will receive.

Investnow2017:
At maturity, are you going to be credited with N1,220,000 again or N1,000,000 which you were debited?? I think when you were debited for N1m you had taken the N220k left in your account as the discount. Am I missing something here?

She said she doesn't want to get interest upfront which means she has to invest all the face-value.

In our hypothetical example, if she had wanted to take discount upfront (which is the way TBs work), with N1m at 18% for a year, only N820,000 will be debited on bidding day and N1m credited at maturity 1 year later. That means she earns N180,000 instanta which she can use to buy some original Victoria Secrets

However, she doesn't want the upfront discount but rather want to get the interest at the end like a fixed deposit, the only way is to re-invest the discount on the same terms till the discount is zero.

The model is described in complicated way by Modigliani and Miller in financial management textbooks but the simple explanation for it is that she is targeting the effective interest rate or true yield not the discount rate. Note that the discount rate of 18% on N1m initially gave her N180,000. But since this is paid upfront, that means she earns the N180,000 on an investment of N820,000 (which is what is debited not on N1m). 180,000/820,000 gives a true yield of 22% not just the discount rate of 18%

22% of N1m =N220,000 which is what she is targeting by re-investing the discounts immediately.

chyima:
yes....there wasn't any reinvestment option,so would go along with that option of urs,
but if the option was there when reinvesting is it the same primary market rate and tenure that was with the initial amount that will also be applied to the reinvestment

Note that stanbic doesn't debit you until your bid is successful and will only debit you with the discounted amount only.

However, it will freeze the face-value of your bid (though still in your account but not available for withdrawal) a day to the bidding day.

There is really no easy way to re-invest thru stanbic, however, if you have surplus amounts in the account to cover it, you can go like the example below

Let us say, you intend to invest N1m face-value at (estimated) bank rate of 18% with a tenor of 364 days

Fill a form for N1,220,000
This is N1,000,000 + N180,000 (i.e. the discount on N1m) + N40,000 (compounding discount on subsequent re-investments till discount get to zero)

Stanbic will freeze N1,220,000 on your account a day to bidding day without debiting you.

A day after the bidding, your account will only be debited with N1,000,000 and other minor commissions.

At maturity, you will be credited with N1,220,000.

Note that your yield is now 22% and not the 18% discount rate. This is called true yield when you reinvest discount at the same rate and tenor as the principal.

oyakhilomeh:
I bet you don't know what it means. So na Abuja(build) go build am?
Ask questions when in doubt!

Actually YES. Dino Melaye as the Chairman of the senate committee on FCT forced the project into the 2016 budget of the FCT and it was financed and supervised by the FCDA. There are other projects apart from the school.

You may google it as it caused some tension in the FCT then.

What is "one look-alike gun"?

fatymore:
Uhm... Hope it won't backfire.. It should be for accident victims... Accident victims should be treated asap... Gunshot victims can be thieves or all this cultist guys

Police report will still be required but that is while treating the patient not before.

There is really no sense in denying treatment to an injured person even if he is a known criminal. Remember he is innocent until proven guilty and that is not the duty of a doctor.

7Alexander:
OP, this your story is just bunkum. How can Kanu who was born in 1976, that means 20 years in 1996 be laying 3 kids in bed in 1996?

He also got married in 2004, which wife again was he in bed with in 1996?

You said his wife is 30, is it 30 years in 1996 or 30 years now?

This story is about his second heart operation that he had in February 2014. The first one was in November 1996.