₦airaland Forum

Frankiss44:
Russian information minister has spoken.. As if they don't pay tax running into billions to the Russia government.. You people just can't see beyond your nose..

Russians will just change the name and business continues. Same chef, same workers, same suppliers but different name or brand. McD is least of their worries.

Rugaria:
This is becoming very frequent these days. Lots of big companies have left Nigeria because of the chaotic situation here and most of them went to Ghana. Essentially, Ghana is feeding off Nigerias predicament while utilizing the ECOWAS free trade agreements to land these big companies. Yet the same Ghana will be chasing Nigerian traders off their territories. What it means is that Ghana chooses which part of the ECOWAS trade agreements that favors her to obey and then avoids the ones that doesn't favor her..

Companies like Guinness and Michelin that have all relocated to Ghana from Nigeria, make most of their sales in Nigeria. The economy of Lagos trounces that of Ghana an they know. Under a very good political environment, you would expect Abuja to introduce new legislations to force these companies to operate here. They can't be selling most of their goods in Nigeria while setting up headquarters in Ghana, where they will be employing Ghanaians and be paying taxes to Accra. This is a brazen manipulation of the ECOWAS agreements to favour their nests. .. It's nothing but corporate exploitation of a weak country and her fledgling legislations..

Maybe it's also time to beg Hushcobar Tinubu and his goons to stop hammering businesses in Lagos with unimaginable taxes! Nigerian businesses there, groan quietly because they don't really have no alternative but foreign businesses will definitely not take the piss. The Lagos State government is over laboring businesses with taxes and demands! If you compare what Lagos State earns, which is more than what Togo or Benin Republic earns as taxes in a year, and you look at what these countries do with their earnings, vis a vis the hedonistic owambe lifestyles of Tinubu and his minions at Alausa, you would agree with me that the whole country is now paying the price for the overzealousness that is officialdom in Lagos..

Are you blaming Guinness or the govt that failed to give business conducive environment to flourish.?

Oyinlomobambam:
So Bunmi doesn't have vc or any other of the committee to handover to aside non member?

Keep deceiving yourself

Gov Bello is a member

If this report is correct, the arranged coup is not in favour of Amaechi or Tinubu because Fayemi and El-Rufai seems to be in the same presidential race too. So what happened earlier this week is their's to benefit from. In days to come things will become more clearer.

Truthisunique2:
This politics go shock many Las Las, you have heard that the cabal members of Bumi sacked him and you didn't see the script.

They are working together for Bumi good, he left so that they would be forced to replace him, Buhari approved because it was planned

Bello would now have to issue a proclamation call for delegates to get ready for convention as from 19th, in doing so he would have committed legal blunder because only the secretary can do so, and the secretary is not on his side

Immediately this error is made that is when Bumi would come out from travel and challenge it in court getting an instant judgement to halt the convention till further notice because it is standing on illegality

The judgement is all he is working for, and it's the only way to pause convention right now postpone to anytime he wants

If this report is correct, the arranged coup is not in favour of Amaechi or Tinubu because Fayemi and El-Rufai seems to be in the same presidential race too. So what happened earlier this week is their's to benefit from. In days to come things will become more clearer.

backbencher:
GEJ promised, and even signed deal for 3 refineries with China, yet nothing happened...why?

Because subsidy makes any deal for those refineries unprofitable. GEJ tried to remove subsidy, see what happened. Same thing for any promise APC makes regarding refineries. They need foreign partners and investors, and una go invest when government is still setting prices of petrol? (And APC themselves love subsidy too too much...even now we are going to be stiffed with a loan of 3 trillion for subsidies because rising oil prices)

At the end, any new refinery will lose money, and end up like our 4 refineries for the same reason.....no profit, crap service.

Dangote that is building refinery , he got loans because if he does not meet up with payment, the banks take over his lucrative assets.

Note that China signed a similar deal with Niger and their refinery is up and running, because in Niger fuel costs N350 per liter. Profits made help fund and keep the deal running. Nathing like subsidy.

Buhari did not believe in subsidy. He made it clear that anybody paying subsidy is a scamer. So I don't think bubu is paying subsidy unless you want to call him a scamer.

Dsalvo:
Anything to support your shameless 'food is ready' and ingrate predilection to life you IPOBians will say.

Yet the same Northerners mysteriously could not make Buhari President the few times he contested and lost before 2015 ba?

Your logic is top drawer bro but don't be expecting any high-end job, set aside for brilliant and analytical minds, any time soon.

Why did Tinubu not make Atiku and Ribadu president?

1stGenAmerican:
It’s been days and Russia still hasn’t cleared Ukraine but they’ll clear US?

Remember US did not clear Afghanistan in 20 odd yrs.

Karemarealty288:
The legitimate titles attached to these drug criminals are contributing to their boldness to commit more apart from the money.

Drug Baron

Drug Kingpin

Drug Lord

Drug Cartel

Drug Empire

Drug Ring

When the leader is a woman should she be referred as Drug Lord too?

Herald.ng

HomeMetro
NDLEA arrests drug kingpin, 6 others, recovers 5,862kg drugs in Lagos
METRO
By Ibironke Ariyo
Marwa - drug cartels
Marwa
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The National Drug Law Enforcement Agency (NDLEA) has arrested a major drug kingpin and Six other suspects, recovering 5,862 kilograms of assorted illicit drugs including Loud and Codeine in Lagos.

This is contained in a statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi on Saturday in Abuja.

Babafemi said the suspect, Mrs. Sherifat Lawal who was operating the notorious Patey Lagos Island drug haven in Lagos, was arrested on Saturday Feb. 26.

According to Babafemi, operatives followed credible intelligence and follow up surveillance on illicit drug dealing in Osho, Gambari, and Beecroft Streets, Patey Area of Lagos Island,

“Anti-narcotic officers stormed the Gambari street base of the drug kingpin where they arrested her and six of her accomplices at 9:30am Saturday, Feb. 16.

“Other members of the cartel operating in the axis, however, mobilised hoodlums who attacked the operatives with stones, bottles and guns.



“This was in a bid to prevent the officers from arresting other kingpins marked for arrest as well as taking the suspects already nabbed and drug exhibits away, ” he said.

Babafemi said the operatives were able to tactically defend themselves, took the suspects and exhibits away.

He mentioned other suspects in custody with Lawal to include Ahmed Yisau; Solomon Alape; Olayemi Akinola; Salami Qudus; Bakare Rafiu; Rose Samson; Yusuf Rofiat, and Chukwudi Egon.

He quoted the Chairman, NDLEA, retired, Brig. Gen. Buba Marwa as commending the officers and men of the Lagos Command of the agency for the successful operation.

Marwa warned those being used by drug cartels to obstruct or attack anti-narcotic officers in the course of doing their work to desist or face dire consequences. (NAN).

Palestinian girl confronting Israeli soldier.

HarunaWest:
The emir had a case. His P.A was the one that messed everything up. It was ought to be a connecting flight. Banjul to Lagos, Lagos to Kano. But the Banjul to Lagos Flight got delayed by an hour hence by the time they arrived Lagos, The Lagos-Kano flight don set for runway. So them no fit board them again

And he wad offered another flight.

FreeStuffsNG:
China State Banks Restrict Financing for Russian Commodities

ICBC stops issuing letters of credit after Ukraine invasion

China’s top banks have complied with previous U.S. sanctions
7

Bloomberg News
25 February 2022, 15:43 GMT+1
Updated on25 February 2022, 16:07 GMT+1

At least two of China’s largest state-owned banks are restricting financing for purchases of Russian commodities, underscoring the limits of Beijing’s pledge to maintain economic ties with one of its most important strategic partners in the face of sanctions by the U.S. and its allies.

Industrial & Commercial Bank of China Ltd.’s offshore units stopped issuing U.S. dollar-denominated letters of credit for purchases of physical Russian commodities ready for export, two people familiar with the matter said. Yuan-denominated letters of credit are still available for some clients, subject to approvals from senior executives, the people said, asking not to be identified discussing private information.

The move followed Russia’s invasion of Ukraine, which triggered a wave of sanctions from countries including the U.S., the U.K. and Japan and stoked speculation that more may follow. Because commodity-linked letters of credit are issued so frequently, they would be among the first transactions impacted by the threat of sanctions.


Bank of China Ltd. has also curbed financing for Russian commodities based on its own risk assessment, another person said. The lender has yet to receive explicit guidance on Russia from Chinese regulators, two people said.

The Chinese banks’ response could be temporary, especially given that Western sanctions have so far spared Russia’s energy sector. It’s unclear whether Chinese banks have pulled back from other forms of financing for Russian companies and individuals, and their policies could change.

The curbs highlight the difficult balancing act facing China’s biggest financial institutions and the nation’s president, Xi Jinping. While Russia is a major energy supplier to China and the countries often find themselves aligned in geopolitical disputes with the U.S., Russia’s economic weight pales in comparison to Western nations that buy many of China’s exports and control its access to the dollar-dominated international financial system.

China’s four largest banks have complied with previous U.S. sanctions against Iran, North Korea and even top officials in Hong Kong because they need access to the U.S. dollar clearing system, a person familiar with the matter said. In a phone call with Vladimir Putin on Friday, Xi urged the Russian leader to negotiate with Ukraine to defuse tensions.

“Chinese financial institutions take sanctions compliance seriously,” said Ben Kostrzewa, foreign legal consultant at Hogan Lovells in Hong Kong, who formerly handled U.S.-China disputes and negotiations at the Office of the U.S. Trade Representative. “They don’t want to be sanctioned themselves, they can’t lose access to U.S. dollar transactions, so they are going to have to think about it very seriously -- whatever the geopolitical impact might be.”


ICBC, Bank of China and the China Banking and Insurance Regulatory Commission didn’t immediately respond to requests for comment.

With international lenders including ING Groep NV and Rabobank also imposing restrictions on commodity-trade finance linked to Russia, demand for the nation’s resource exports could dwindle. Chinese state-owned coal importers are unable to get credit lines from banks in Singapore for shipments from Russia, people familiar with the matter said.

U.S. sanctions put China’s state-owned financial institutions in a tough spot because many have established close ties with Russia over the past decade.

ICBC’s Moscow branch alone had close to $1 billion of assets by the end of 2020 and offered an extensive range of yuan-denominated services, including deposits, lending, cross-border settlement and trade finance. Bank of China, Agricultural Bank of China Ltd. and China Construction Bank Corp. all have operations in Russia.

China’s largest policy banks -- China Development Bank and Export-Import Bank of China -- have provided tens of billions of dollars of credit to Russia as part of Xi’s Belt-and-Road Initiative, funding everything from infrastructure to oil and gas.

— With assistance by Alfred Cang, Serene Cheong, Lisa Du, Qian Chen, and Evelyn Yu

(Adds additional details in 5th paragraph)
https://www.bloomberg.com/news/articles/2022-02-25/chinese-state-banks-restrict-financing-for-russian-commodities?srnd=premium

Cc Seun Mynd44 Lalasticlala

They stopped US dollar denominated letter of credit. Which is normal as China don't have control over dollars. The article also stated that Yuan letter of credit is still available for some clients.

Let their be peace. No good war and no bad peace.

PartnerusIsBack:
Putin really hit below the belt this time. I used to think he was intelligent enough but his recent calculations has suggested otherwise. Who goes to war with no tangible allies to backup? Is he banking on China? Nah! Those guys are wise enough to stay clear off it. NATO is already encircling Eastern Europe. Give or take, its only going to take 2 weeks for Russia to lay its arms down if full scale war happens. Russians will never forgive Putin for the massive onslaught and destruction of their country as a whole.

The handlers of Putin should have a rethink. SERGIE, the Russian foreign Secretary is an intelligent man. I see that guy leading Russia soon. So sad that putin isn't giving that guy a listening ear.

When Putin Russia went to defend Syria against Western allies, did he go with any ally?

Karmaisme:
I want to see what NATO will do in the event Russia invade Ukraine.
I just don't want China to get themselve involved.

NATO can't do Nada other than to supply weapons. UKRAINE is not a Nato member.

edmaraja:
There's no reversal here nah, the original date was February 26 not March 26. What you will say is that they have fixed a new date for the convention

Reversal in the sense of indefinitely as earlier stated.

Cancellor is here already.

legba1:
Some of you kiddos are so dumb you can just engage in national discuss without resorting to tribal bashing.....every tribe got it's headache and so should concern itselfs with what will benefit her and people in the scheme of things...well, I don't blame you...you still can't see beyond your nose yet...when another 8yrs of your time on earth is waisted,then you will understand

Are you indirectly saying Bubu wasted the last 7 yrs plus 1?

FreeStuffsNG:
Seems people just never learn. HE Oshiomhole did not even make the kind of infantile disorganization like this. I am sure that by now even PMB would have started having dou bts about the sincerity of this caretaker committee.
Are these dates not to be agreed at a formal meeting of APC state leaders? In my opion, this is an embarrassment to even the President. You forgot that you needed to have a zonal congress first before National convention?

Awww no campaign pictures, is it getting clearer? �

Is SDP not Chief Olu Falae party? Hope this news is not true sha.

Na waah oh. This people should not bring their madness to lagos. Lagos is too classy for this roforofo dance.

Gbaja will soon fall out with Jagaban.

This shouldn't be coming from Aragbe irrespective of whatever. Politics taken too far. Is this even Politics?
Ordinary Nigerians may make fun but not a Fed. Minister.

Is this the same Aragbe that generated IGR bigger than the whole of SE and SS plus some part of NW is being castigated today? Honestly I bow for Nigerian kinda politics.

seunmsg:
Rauf the proud and arrogant butterfly that think itself a bird. All his noise will end in Saturday once Oyetola wins the party primary.

APC almost lost the last election because of Rauf’s treachery. If not for the way party leaders all over the country stepped in, PDP would have won Osun 4 years ago.

APC has learnt from the last outing. The party is not relying on Rauf again to deliver votes from the ijesha axis. Oyetola will win re-election easily.

Thought PDP died 2015.

RichDad1:
Primero was owned by Ambode’s crony. Regardless, they should face their wahala and be responsible.

Fola TINUBU is Ambode crony?

izzou:
[color=royalblue]With the way everything is becoming expensive, I already know that that it's either the BRT operators (Primero and LSBL) increase their fares, or get ready to pack up.

Maintaining such buses at those miserable fees is something else

Person go use better Scania and Mercedes buses, switch on AC and collect #500 from Ikorodu to TBS?

Only to change the compressor of one of those buses, go chop all the #500 wey the bus don make in 5 days.

To run business in Nigeria no easy[/color]

They should factor all these before setting tfare that is how good business people do their thing.

Osagyefo98:
Lol

The ndlea issue is a well played script.

Perfect timing and IGP will willingly hand him over.

Extradition ends.

Case closed.

Will be cleared later.

Abba Kyari been so loose like this over 35m drug

Someone who has been dealing on multi million naira case..lol... suddenly became loose and was been videod front and back.

He will go in for few yrs, when he is out he will answer fbi case. America will never forget unless he die in prison.

SlyDev:
They say hate bring out hate. You call Yoruba elder and leader a thief when you are not even Yoruba, this thing dey make me mad Igbo always try to bring down successful Yoruba or even hausa, some Yoruba no dey reason am but we no as e dey go.

Now I ask you why do you hate Tinubu?

Don't you people also call Igbo politicians thieves? The banter is two ways but you guys take it serious.

OBALOLA55:
DON’T MIND THEM BRUH

MEANWHILE THIS IS THE GATEWAY TO OGBOMOSHO TOWN

don't be silly my friend. This is photoshop.

All these threads you are posting is for the north not to vote Amaechi if he is truly the annoited one.