₦airaland Forum

meetme01:
Long but worth reading

Please, help with that Sanna Pay contact. Very urgent

josielewa:
what is the android version

fredrickmyers:
Sorry wats d model please

CheapHomes1:
So you mean that with all your reading, you can't answer simple questions?

1. How did you come about your definition?

Try this: I came about my definition by......

2. Did you get it from cbn? Simple yes or no.

With all your press briefings and YouTube videos, how is the statement below the definition of hoarding?

"If 2.7 trillion naira out of 3.2 trillion is outside the vaults of the commercial banks, that is currency hoarding."

CheapHomes1:
With all your reading, you ended up being unable to answer the simple?

1. How did you come about your definition?

2. Did you get from cbn? Simple yes or no.

With all your press briefings and YouTube videos, how does the statement below the definition of hoarding?

"If 2.7 trillion naira out of 3.2 trillion is outside the vaults of the commercial banks, that is currency hoarding."

Significant hoarding of banknotes by members of the public, with statistics showing that over 85 percent of currency in circulation are outside the vaults of commercial banks. To be more specific, as at the end of September 2022, available data at the CBN indicate that N2.73 Trillion out of the N3.23 trillion currency in circulation, was outside the vaults of Commercial Banks across the country; and supposedly held by the public. This is a worrisome trend that cannot be allowed to continue.

CheapHomes1:
How did you come about your definition? Did you get from cbn?

In recent times, however, currency management has faced several daunting challenges that have continued to
grow in scale and sophistication with attendant and unintended consequences for the integrity of both the CBN and the country. These challenges primarily include:
Significant hoarding of banknotes by members of the public, with statistics showing that over 80 percent of currency in circulation are outside the vaults of commercial banks;

omonnakoda:
Imagine the nonsense you are talking are bank notes supposed to be in bank vaults? Is that what they are made for?

It does not occur to you that that money could be in the hands of ordinary Nigerians who do not have bank accounts
[b]3 trillion for a population of 200 million works out as 15000 naira per person .on average
Do we have the facilities for cashless transactions?[/b]

omonnakoda:
In order to move this conversation forward please define hoarding
So you imagine that 500 naira note has been under somebody's bed?

omonnakoda:
How is that relevant to this thread and the photograph

omonnakoda:
Have you seen one million under anyone's bed? Why not restrict yourself to evidence and stop talking like a lynch mob

chigo4u:
Hello, does anyone know the current interest rate for Gtb and zenith savings account

omonnakoda:
Hoarding is not the only possible or the most logical reason

If you live outside Nigeria it makes sense to have some naira so that when you arrive changing money to pay for taxi is not your immediate priority and that is useful for security

Buddha3:
Please what is the life span of every dollar note made?

jumper524:
Could this be as a result of the cbn plan to change currency or a mere coincidence?

Physco4221:
I just make payment for my international passport on their website, after it me to where I am to book an appointment but all the date have been striked out.pls what this means?

UyaiIncomparabl:
Mumu, don't let that boy drown.

I can't forget how Dbanj made his son drown. Deadbeat and careless fathers.

Limassol:
Few, if any, economists use population density to measure a country's wealth. Rather, the standard tool of measurement is the GNI/GDP per capita, by that, Suriname is richer than South Africa let alone a laggard like Nigeria ($15k against $5k, for your info). The reality is some Nigerians have no idea that some of these countries they look down upon are actually better (in almost every aspect) than home.

Moyissh:
Please.. What's the recommended gear oil for Honda Accord 2006
4 cylinder
2.4l Please, if possible help me with a picture

LagosInter:
I need to add oil to the vehicle, one quart.

Or should I just go for mobil 1?

Khalifarichee:
Please someone help me from Ikorodu to onipan

ModJ1:
I had a terrific experience in August of this people in Burkina Faso. I will tell my story here whenever I have time. I almost lost my life on the road to Burkina

broadman20:
Yes that's what election is all about even outside Nigeria.

It makes the people have a say of the candidate and if he messes up he will be kicked out.

Can you share Tinubu Bullion van and kick him out?

You people do not really understand what we hope to achieve making Obi the president of Nigeria.

obedience4:
Fake news..
Niarland and fake news be like 5 and 6..
Someone help me with that Zuma photo

The Central Bank of Nigeria (CBN), in conjunction with the NIRSAL Microfinance Bank, (NMFB) has started recovering their loans from Nigerians. Yesterday, many Nigerians started receiving debit alerts from their phones by mid-afternoon.

The buzz was all over the place that the NMFB had started recovering facilities granted to Nigerians under the Targeted Credit Facility (TCF) and the Agric, Small and Medium Enterprise Scheme (AGSMEIS). Although the recovery exercise had been in the offing for a while following threats by the CBN and NMFB, many beneficiaries of the loan were shocked at the sums harvested from their accounts.

The beneficiaries of the COVID-19 TCF and AGSMEIS facilities had their accounts placed on Global Standing Instruction (GSI). The Global Standing Instruction (“GSI”) is a mandate authorising the recovery of due loan obligations from any and all deposit accounts maintained by a defaulting borrower with other banks other than the creditor bank. One of the beneficiaries of the facilities, Mr. Kuma, cried out saying, “Why are they sweeping everything in people’s account?” Ms Elizabeth Christopher said her children’s bank account was swept clean with only a balance of N657.14 left their account, with a note saying “GSI Recovery”.

Also targeted for loan recovery are defaulters of the Anchor Borrowers’ Programme (ABP), some of whom have already had their accounts debited.

In August 2022, the Central Bank of Nigeria (CBN) authorised NIRSAL Microfinance Bank to recover N5,840,450,992.08 non-performing loans from eight agric businesses who got loans under the Anchor Borrowers’ Programme (ABP). The Anchor Borrowers’ Programme is intended to create a linkage between anchor companies involved in processing and small holder farmers (SHFs) of the required key agricultural commodities.

Under the TCF Household programme, 639,197 individuals received credit facilities valued at N258,167,332,386.38 while the SME component of the facility witnessed 112,921 Small and Medium Enterprises (SMEs) receiving loans valued at N112,203,609,105.94. TCF Household beneficiaries received as little as N250,000 at the height of the COVID-19 pandemic to buy food and sustain themselves. Many beneficiaries lost their jobs and many more are still unemployed.

Mr. Philip Yila, Director Development Finance Department of the CBN, during the post Monetary Policy Committee (MPC), had vowed that “every single person who has taken that loan is going to pay. We have their BVN. In fact, we have started implementing the Global Standing Instruction (GSI)”.

“We will continue to poll the account in the bank that they lent to or whichever bank that they have account. Anytime we see money in that account, we will recover it.”

A source at the NIRSAL MFB (NMFB) told The Nation yesterday that defaulting beneficiaries of the facilities can walk into NMfB branches to restructure their loans. The restructuring, the source said, will involve agreeing with the bank on when to start repayment and the amount affected debtors can afford to repay at agreed but convenient time.

Goodluckoreva:
Please I need directions on how to locate the passport office in Abeokuta from ikorodu.
Please anyone with the direction should help me out.

QuinModah:
Prospective Employer asking employee of his notice period to quit his current employer.
Employee responded a month lieu of notice will be given to his current employer.
Prospective employer gave this employee an offer letter stated he must resume with immediate effect.
Here are my questions for both party.
What will you do as an employee?
Employer What are you trying to inject into the system?

talk2chomchom:
600k serious buyer

budaatum:
If Nigerian farmers want to make money, they should invest in the technology that improves the quality of their own crop instead of expecting government to buy it for them!

Pickmycall:
I dont think the Nigerian government who is persuading Nigerians to patronise local rice are eating it.