₦airaland Forum

VanuatuWycombe:
I don’t think you know what they call globalization. Does globalization include shipping and spending another countries currencies in your country?

Go and learn more about globalization.

Okay. Lecture me.

What is globalisation? Do you know any Nigerian that was arrested at any point in time in the UK or US for holding Naira in cash?

There's hardly any Nigerian studying in the UK today without a Nigerian bank account, so what are you people saying sef? I'm asking you again to please define globalisation.

Secondly, does this policy and ban on international remittances in $$ affect the sharing of dollars by political parties??

People like you never learn. Unfortunately.

Three questions you should be asking are:

1. Why do women bleach their skin?

2. Why do the majority of women want light-skinned babies?

3. Why do light-skinned celebrities have more women crushing on them, from footballers (e.g., Super Eagles captain - Troost Ekong) to Nollywood stars (e.g., Chidi Dike)? You can visit their social media page if you're in doubt.

Bottom line? Be YOU. Women know precisely what they are doing; they adore the so called beauty and the perceived visibility associated with light skin. However, they prefer to have that "perceived visibility" for themselves or their babies, not for you, the "dum.b" man.

cjrane:
Right now the biggest source of dollars into the economy is through remittances. If he blocks the steady flow of dollars into the economy through the failed policy, he will only open the gate for people who would transfer into your naira account at 1,410 if you transfer into their Bank of America account. Everybody took that option because then the money transfer agencies would pay something like 800 or 900 naira to the dollar. Nobody likes wasting money, so once you need to make the transfer, you call them and make the agreed sum while they will credit your naira account.

I just wonder why Tinubu would also want to stifle forex inflow by Nigerians in the diaspora by introducing hurdles to make their loved ones get less money. It simply creates all these alternative ways of transfer that in the end, the dollars never make it to Nigeria again. Anyway, they should continue bulldozing Nigeria and experimenting on discarded ideas that turned out to hurt the economy, until the people will wake up.

The situation is a bit different now since we have a somewhat similar official and black market rate. But if people perceive that their funds will be forcefully converted to Naira at potentially unfavourable rates, then there will be more consequences.

Sometime ago, the same CBN encouraged remittances by paying Nigerians N500 on every foreign transaction in $$. Experimentations are needed since we have failed to address the main issues, lol.

cjrane:
In this day and age when you can contact people in America via WhatsApp, they are bringing back this policy that stopped dollar remittances into Nigeria. They have just opened business again for those who would ask you to give them the dollars in America and then they will transfer the agreed naira equivalent to your loved ones in Nigeria.

Ultimately, Nigeria loses on the dollars her people would have sent into Nigerian banks. The dollars remain abroad while the people in Nigeria who need dollars to fund their accounts abroad are merely asked to pay naira into an account in Nigeria and they will credit your account in China! So the dollars never enter Nigeria.

I like to believe that the whole idea is to restrict speculative activities and potentially stabilize the Naira. However, for every 1 potential benefit of this policy, there are at least 5 brutal consequences.

If this policy backfires lasan! Kai! But lets stay optimistic.

Ttalk:
Globalization means you should abandon your currency in your country and start trading with foreign currency.

Mr lecturer abeg don't teach me nonsense

Have you considered the potential disruptions to international trade/economic growth, or are you simply carried away by the potential significance of just another trial-and-error CBN policy?

You should not be too confident in a country or institution that has consistently failed in effective policy implementation and enforcement.

The people you lot should be preaching to are the very same people you all go out to vote for every four years. They are the very same people you all defend day and night online.

Throwback:
What does economic security have to do with being a welfare state?

How can someone pushing for higher fees and promoting the local over the foreign, be termed as anything negative.

You lots are not ready to revive Nigeria from the pathway of doom.

You criticize the leaders for using foreign cars, but you also insist on the use of those foreign cars.

You have universities here in Nigeria, but even the poorest Nigerian is still aspiring for foreign education.

Nigeria is not rich, and Nigeria should stop undercharging for services and underpaying for labour.

Both the leadership and follwership need to get that into their heads.

The children of the "CBN guy" who initiated this policy all attended school in the UK, from the eldest to the youngest.

Why do you oppose allowing the less privileged to follow in the footsteps of their "leaders"?


What is your idea of leadership? "Do as I say, not as I do"? I sincerely hope that you are not a Tinubu or Buhari voter/supporter. You lots have something in common.

Throwback:
The next step is to outlaw forex processing for foreign education for a minimum of 10yrs.

Any Nigerian that wants to be educated abroad should look for the money abroad.

We have schools here that can take those huge amounts of Naira we employ to buy forex for UK or American or Canadian education.

We need to jump-start our tertiary education system with better infrastructure, improved quality of education, improved salaries, and improved school fees.

Tough times require tough measures.

In Nigeria, tough times require tough measures ONLY against the common man.

Politicians will always have their way. If I may ask though, why are you against globalisation? The world is a global village now. You can't box people.

cococandy:
Why didn’t you take the same oath?

abi na 🤣🤣

Hezzyluv:
I tried my best to get a job to no avail. I decided to gather the little money I had with me, told my sister to augument it for me, I needed to buy keke (marwa) which I did. I thank God I can be able to save the minimum of 7k per day. (I don almost get the money i used buy the keke). Note, "l only work from 7am to 12 noon" then I give it to someone to work in the evening while I use the remaining hours to go learn tech skill.

Marwa I bought around 1.5m about 9months ago, now cost around 2.4m.

Wait. Keke is 2.4m now?

14 days?

Nwabali man of the match, please !!!!

LMAO! 🤣🤣🤣

Sadly, this is the true state of many Nigerian kids. For many of you, the people you call dad and mom, are not your biological parent. Someone scammed the other partner.

You have been raised in a society that values respect more than truth and sincerity; thus, many of you would never be able to confront your reality.

Love800:
Okay.
The investments in food you were talking about, what are they?

So rather than buy rice and other food items in small quantities, you can buy your food stuff in bags (larger quantities). If the free fall of the Naira continues, you would have to spend more Naira buying fewer food items without any assurance that your income (especially when you're a salary earner) will increase in tandem.

I am aware that many times we are scared, wondering whether prices won't fall tomorrow. Lol. History is the greatest teacher.

I read a story of a man in the North who bought thousands of Dangote sugar at N30k per bag, stored all. Today, a bag is worth almost N70k. Some called him names and said he's one of the people causing hyperinflation but that's completely false. You would only be causing inflation by storing scarce commodity. Sugar dey everywhere, rice is not scarce either, so buy as much as you can, and be strategic. Prices of certain items MAY fall and others may not.

$1 is currently 15,000 Lebanese pound. Like Nigeria, their free fall started from N1,000. If nothing inspires us enough to plan ahead, the Lebanon story should. You can read up the mess they're in and how they got there.

I'll say it again, Nigerians living in South Africa dey try. How do you co-exist among people who hate you/your country so much? Are you guys not scared or is the media exaggerating this level of hate and xenophobia?

Omo life is too short to walk all your life on eggshells.

The man has stolen so much, people now steal in his name. Remember Donald Duke's childhood photo?

You guys don't understand the logic behind working with or for a thief. Everyone around a thief is interested in just one thing - theft.

This same logic inspired his Minister - Edu abi wetin be her name again? Same logic inspired una trophy "Minister of Passport and Japa."

These guys have barely governed their ministries for 5 months but hey, you cant cheat basic psychology with ignorance.

Btw, same logic applies to Yahoo Boys and their landlords or traders. Try and work for a yahoo boy and see whether you won't inflate your prices (theft).

The reputation/public image of that Iragbiji man is more than enough to avoid him.

Love800:
Wat do u mean by dis?

Your money is losing value. Someone bought a Tokunbo car for N4m in 2022. Few weeks ago, he's selling the now "Nigerian used and battered" car for N6m.

In classical economics, a car is a liability (meaning that used Nigerian car should be worth only N2m) but under BATnomics, a car is now an asset. The actual liability right now is your Naira.

The more Naira you have, the closer you are to bankruptcy.

ElSudani:
Ukraine makes around $30 billion yearly from agricultural export, not to mention Ukrainians are not starving.
Australia makes between 40 to 70 billion dollars annually and Australians are not starving too.
In 2022 Brazil exported about 160 billion dollars worth in agricultural export.
This is just one sector of the economy, not mentioning self sufficiency in food.
This is something you should think about, what do you think 30 billion dollars would do for our own economy today?

Agriculture in Nigeria is currently overrated. I agree that we need not waste our time exporting the "little" output until we transition from peasant farming to more sophisticated mechanical means.

This is 2024 not 1962. Nigeria only needs to do two things: attract foreign investors or get billionaires like Dangote, Otedola, etc. to invest more in the agric sector.

We need to manage our agric sector in the same way we manage e.g., the oil sector. In the oil sector, employers look for the best and pay them handsomely. You'll usually find many first class graduates, huge capital base, and stringent regulation/regulators. Despite the massive level of corruption in the sector, Nigeria still managed to earn over $11bn in just 5 months (2023) from crude exports.

Somehow, we expect the agric sector (populated with the highest number of illiterates and poor people) to produce the same result. It's never happening.

We have become too archaic and comfortable with the status quo so much that we believe that only AK-47 carrying Fulani and Bororo folks without education can give us beef and fura de nunu (or yoghurt). We never even see poverty. The worst is yet to happen unless we begin to change our thought process.

ElSudani:
We are not even producing enough for local consumption.

This week, illegal miners and over 7 truck loads of lithium were apprehended in Kwara state. These are some of the issues.

Do we need lithium for "local consumption"? I don't think so. But people are stealing these products and shipping them abroad illegally without due process (tax, remittances, dues, etc.).

Lithium is a big deal right now all over the world. Tesla needs it. Same as Ford, and other electric vehicle companies all over the world.

People like Elon Musk will pay anything to invest in a lithium zone, but who is going to initiate the talks? Tinubu?

Even if Elon won't invest in a fantastically corrupt country, China has over 20 electric vehicle companies. However, under a fantastically corrupt party and government, these companies would rather cut corners by negotiating with corrupt politicians and obas.

In international business management, corrupt countries (i.e., least developed countries) typically attract useless and corrupt companies.

How does it feel living in a country and knowing that the citizens hate you?

Nigerians residing in some of these countries dey try abeg.

Dikegodspower:
Before Easter, a bag of rive ho hit 100k

Yup. Don't bother saving money this period. Invest your money on assets, food items, anything. Anything at all.

Sijo01:
Nigerians don't need your pet talk before you do neck like ostrich

🤣🤣🤣🤣🤣

I can't remember the last time I subscribed. Streaming services have taken over. Nowadays, you can watch a movie soon after it is released on YouTube or any other platform. You don't have to wait two or three years to see a "new" movie.

Another wahala is that most of their channels have very low quality, usually in SD (standard definition). You can't have a TV with a high screen capacity and settle for DStv. It's like drinking an expensive wine in a cheap plastic cup.

It's time to sell that company.

Biodun556:
It's not a scam but a step further to progress. Dangote refinery is not only refinery that is coming on board.

🤣🤣🤣🤣

N250 from the factory. N300 from retail shops.

You people had the opportunity to send Buhari back to his 1980's farmland in 2019 but what did you do with your votes?

That man has always been a total dullard. Right from his days in the military, Buhari has always been a liability to everyone and himself. There is no single local, national, or international engagement attached to his name. No books, no conference, zero meaningful award, zero business apart from an unproductive cow business he had since the early '80s.

It is one thing to be contented, it is another to be lazy. APC sold the contentment lie but in reality, that man was too lazy to sustain a productive economy. At some point, he said his age will affect his performance. Relocated abroad where he stayed for over 4 months. He never hid his laziness from discerning minds.

It's obvious she's trying to make Ifeoma feel better about her situation. But hey, it is not your place to dictate what people should consider as an achievement. Marriage might not be seen as an achievement by Ifeoma due to the abuse she has endured at the hands of her husband, but the same cannot be said for someone who has experienced nothing but blessings.

Similarly, a job may not be seen as an achievement by someone with a difficult boss, limited career progression, or poor pay, or by someone who has to work without salary. However, to others, a job may be seen as a big achievement.

I wonder how your husband would feel about your post, considering that everything you are today was born out of your marriage to Mr. Njoku. No go carry your over sabi deceive single ladies.

.

VeryWickedMan:
It's a natural defense mechanism perfected by the poor and lazy over centuries to blame everything else but themselves for their own failures.

Exactly

Set awon ediots. Your president is chilling in a country where residents enjoy uninterrupted power, and you people are dragging "Uncle Dele na my boy" for embarrassing the contraption called Nigeria?

What is more embarrassing: (1) the criminal chilling in another man's country while your national grid collapsed or (2) a private citizen expressing his pains

ufotty2001:
But me I do help them just for sex purpose. Women only see love only when they received from u.

Not always true. The idea that one gender or certain group of people love to receive gifts more than the other gender is a complete fraud.

As a matter of fact, I believe that the people who came up with the "love language" concept are complete e-diots (no offence).

There's no gender or person who doesn't love gifts. Some just prioritise it over others due to greed. We all love gifts, attention, etc. There is no such thing as having some creepy greedy love language. It is a lie designed to cover people's inadequacies.

If receiving gifts is your love language, you're probably a thief or a greedy person.

If attention is your love language, you're probably battling with low self esteem.