₦airaland Forum

WizardOfNG:
So you do not consider Nigerians having access to the offerings of the numerous financial services, including investments that can complement their labour and hard work overseas, a good thing?

All you can perceive is negatives i.e "more taxes" etc?

Can I tell you, for example, as someone who has one, that the British ISA (Individual savings accounts) is the best ,government-backed home for personal savings that attract no interest?

If I then tell you that UK ISAs pays pittance interest in comparison to what Nigerians can earn if they have access, facilitated by the PBAT Government, to buy Nigerian treasury bills, for example, from their diasporan base would you say that is a bad thing?

The best UK ISAs pay circa 4.3% fixed deposit (refraining from touching your savings for lengthy periods of time) meaning it is the best investment vehicle Nigerians living in the UK can access. Other UK non-ISA investment offer far less yield over a year .

If the Nigerian government then opens up the channel for our diasporans to buy 12 to 24 months fixed deposit treasury bills at 11% to 18% interest returns, you would want our hardworking brothers and sisters in the diaspora to remain cut off from that so you can rant on about taxes when we know your real purpose for doing so is not because you care about Nigerians or what is best for them?

They save in the UK and get low returns. The UK is the winner as it uses their saving to improve the UK.

They save in Nigeria, via treasury bills for example , and get guaranteed high returns, with Nigeria winnings since more money is available for our government to use on infrastructural development etal, yet you have an issue with this?

Meanwhile, bear in mind foreign expatriates/workers in Nigeria have no issues repatriating their earning in Nigeria for use in their home nation because of their financially flexible and sophisticated systems Tinubu is trying to replicate. Yet you still embrace negativity alone.

What of even the limitless opportunities now open to Nigerians to invest directly in the shares, property development, asset banking (land for example), commodity and Forex trading sector etal ?

Nigeria's financial sector, about to blow as Asiwaju has always known how to achieve, is being opened to the huge diaspora sector, that foreign countries mainly benefitted from previously, to now create a mutually beneficial Country and diaspora community partnership yet you frown on those to distractedly talk negatively about tax?

Bro, take time to think of what you have become because this is revolutionary and those leaders who, before Asiwaju, prevented Nigerians from having full and mutually beneficial access to the Nigerian financial sector, whereas they were dutifully remitting over $19 billion yearly and getting nothing in return, are the ones deserving your negative vitriol if you know what this CNN initiative will achieve.

Just watch. You guys will be shamed regardless of how you are determined to be obsessively negative about anything and everything the PBAT government does.

..... You conveniently chose not to tell us that the inflation rate in Nigeria has been in double digits for the past ten years and that in the UK have been single digits. We all know that inflation rate, bank interest rates and mortgage rates are like conjoined triplets and inseparable.

fineboynl:
Nigeria bank customer service is rubish. They hardly ever respond to mails and phone calls. Some of them are not using cheap AI that cant meet customers requests. Banks can no longer employ customer service in realtime. Failed transactions can no longer be resolved online. Using Nigeria bank is a big challengmobilee and the mobile money is far better

Zenith Bank Replies please.

Government is never nice, they make things easier so that they can have better access to tax you sufficiently

Daneguakhi:
Government is never nice, they make things easier so that they can have better access to tax you sufficiently

Stop talking like someone with poverty mentality who will never succeed. Instead of viewing things from the glass-half-empty perspective of tax and liability why are you blind to other considerations concerning how hardworking Nigerians in the diaspora can invest their money in Nigeria for greater returns?

As is typically the case, access to the investment environment of emerging economies like Nigeria, seeking funds to grow they are willing to pay guaranteed good returns on, will benefit Nigerians because the developed nations they migrated to cannot offer equivalent high yield on investment since their growth potentials are limited and often hovering around 0.6 to 1% capacity.

Pathetic because African nations with leaders doing the right thing can hit even as high as 3% to 5% annual economic growth.

This is a simple and logical consideration. I.e support emerging economies starting to get it right (because of human, material and mineral resources endowment) and win big.

Western economies are saturated and going nowhere because they cannot magically create new opportunities when such do not exist.

Not Africa and Nigeria that is still at 20% uptake rate of her potentials in my opinion.

Why then is your brain stuck in tax and negativity alone? Could it be because your dislike of others and desire to see them fail has inadvertently made you unwilling to win in life?

Or is hatred of others leading you to self-harm via rejecting what those you hate initiate that can benefit you and your generations unborn if you maintain the open mind to see clearly and beyond your prejudice?

66uvie:
..... You conveniently chose not to tell us that the inflation rate in Nigeria has been in double digits for the past ten years and that in the UK have been single digits. We all know that inflation rate, bank interest rates and mortgage rates are like conjoined triplets and inseparable.

What has inflation rate got to do with this? We are talking of Nigerians in the diaspora having an alternative and more profitable investment destination for their disposable income in their own nation of origin, courtesy of newly created access to the financial and investment market sector of Nigeria, and you are yapping on about inflation.

Why do you think so many Africans, including those born and bred in the West, are moving back to Nigeria, Ghana etal to take advantage of the "last trade frontier". Even those who have never set foot in Africa, African Americans for examples, are making the move to Africa to take advantage of the "last trade frontier".

I tire for your sort who, as owners of so much potential wealth in your African nations and soil, you still find ways to wallow in misery rather than get to work before second colonisation of Africa, as the world runs out of resources and begin to greedy cast eyes on our continent's huge mineral wealth, returns you and your generations unborn to worst form of slavery. I.e servitude to non-Africans in your own African nation.

That is what will happen if you continue seeing negatives alone and complaining always that everything and everyone is against you while the emotionless and rapacious Chinese, Lebanese, Indians, Koreans etal keep trooping into Nigeria and other African nation to do the needful.

Keep complaining and making excuse for not getting involved. Others, non-Nigerians, will get involved and they will win big from Nigeria because every ambitious human being, regardless of nation of origin, wants to get involved when the economy of a nation opens up beautifully.

Learn from Dubai and Singapore, for example, that are now major investment destinations of the world with so many foreigners moving to those nations daily to make their fortunes.

Good luck to those sort. Nigerians like you should not complain when Lagos and most developed cities of Nigeria become like New York and London in future with many wealthy non-Nigerians living their best lives there.

https://www.tradefinanceglobal.com/posts/africa-is-the-future-all-eyes-turn-to-youngest-continent-as-next-frontier-for-growth/

“Africa is the future”: all eyes turn to the youngest continent as the next frontier for growth
By Lisa Mendes

KOE1:
And they don't pay tax abroad 😒 🙄 😕?

We kniw who want Nigeria progress....by their fruits...

They lived where paying tax is justified...why pay tax when you ll still dig borehole, buy electric pole and fuel your generator

femi4:
They lived where paying tax is justified...why pay tax when you ll still dig borehole, buy electric pole and fuel your generator

Inspect the article again. Is it about tax or is it that some of you who did not read and understand the general point of the article made issues about tax alone?

What about the fact this CBN initiative opens the way, for the first time in our history, for diasporan Nigerians to have direct access to all the financial opportunities in the Nigerian banking and investment system from their diasporan bases? Any comment about that Sir?

WizardOfNG:
Inspect the article again. Is it about tax or is it that some of you who did not read and understand the general point of the article made issues about tax alone?

What about the fact this CBN initiative opens the way, for the first time in our history, for diasporan Nigerians to have direct access to all the financial opportunities in the Nigerian banking and investment system from their diasporan bases? Any comment about that Sir?

The last time I checked, I didn't quote the article

femi4:
The last time I checked, I didn't quote the article

Maybe you should speak on it's premise instead of going off on another tangent to focus of tax because that suggests to me you're doing the Nigerian thing of trying to focus on negatives alone to satisfy a need to to pander to doom mongering and deliberately ignore good developments for Nigerians and Nigeria.

Stop trying to be evasive and answer me regarding rhe numerous good development the CBN initiative achieves for Nigerians in the diaspora.

WizardOfNG:
Maybe you should speak on it's premise instead of going off on another tangent to focus of tax because that suggests to me you're doing the Nigerian thing of trying to focus on negatives alone to satisfy a need to to pander to doom mongering and deliberately ignore good developments for Nigerians and Nigeria.

Stop trying to be evasive and answer me regarding rhe numerous good development the CBN initiative achieves for Nigerians in the diaspora.

You will appear smart if you understand the direction of conversation between two people before jumping in..you're off the radar