₦airaland Forum

When I think of elegance, style, class, and grace, I think of Genevieve. She is an example of a classy movie super star.

I concur. God punish poverty. See Change. Money good o.

SucreB:
wailer can i see your hand up shameless hegoat

are u high on goat shiite? ?

Football age ti take over all over.

Issorait.

Kulikuli and groundnut opposition wey pdp dey do dey give me shame. Are there no pressing issues that they can challenge this govt on?

joshuaidibia:
By west,i hope u mean AMERICA. Abi na dem yoruba states?

use ur tongue to count ur teeth.

victorazy:
Oga forget this episodeyou wrote here. Nigerian government should focus and develop local product just like the last government was trying to do. We have been buying good from China, it was not today's affairs.

u have been buying from China in dollars and now you can do that in yaun.

Ok

donvicky2007:
I thought boko haram have been defected technically.

that's why they use the word "technically". Which means they are not completely annihilated but over powered and cannot openly go about as they use to months ago. Heck, even the west with all their military might and technology still get attacked sporadically.

victorazy:
Bros! Leave that thing.
They told us they were going to China to borrow money, it was after the altercation caused by Fayose made them to re-name it as SWAP.

If they had good intention of borrowing money why sudden change of mind?
I blame our youths sha!

Thank God u are now aware it's a swap deal. If u still choose to see it as a loan u are on ur own.

justmenoni:
Guess you have been on holiday? and did you read the original post or just figured me out cos i'm not supporting uncle gbajanubu?


House of Representatives Majority leader Femi Gbajabiamila has described Ekiti State Governor Ayodele Fayose as a meddlesome interloper following the letter he wrote to Chinese President Xi Jinping on the alleged $6 billion loan sought by Nigeria from China.

even what u quoted says "alleged".

This swap deal isn't rocket science. It is a swap deal not a loan Or if you prefer the ‘technical’ name — Bilateral Currency Swap Agreements. Depending on who initiates the swap, a simplified version will work something like this.

Nigeria wants to make life easier for its traders who buy a lot of stuff from China. As Nigeria doesn’t sell much to China, it is not easy for the CBN to build up Chinese Yuan reserves. This means that for any trader who wants to buy stuff from China, they have to get prices in dollars. This adds costs and risks given that the person in China giving the quote has to convert Yuan to dollars before sending to Nigeria, bearing in mind the risk of currency moves affecting his bottom line. The Nigerian guy then has to buy dollars to make the payment to him. From the point of view of the CBN, this is extra dollar demand that can be avoided.

So CBN approaches the People’s Bank of China (PBOC) and asks to set up a swap. Xe.com tells me that 1 Chinese Yuan is currently worth about N30. So for the sake of simplicity, let’s say CBN offers to swap N30bn for Y1bn. Both of them agree an exchange rate on the day of the swap (N30 to Y1) and they make the transfer.

Now that CBN has some Yuan, it can then sell it to Nigerian banks in the same way it sells them dollars. The Nigerian trader can then tell his Chinese trading partner to give him a quote in Yuan instead of dollars. Once he has the Yuan quote, the trader can then go to a Nigerian bank and make a request for Yuan in the same way he used to make requests for dollars. Instead of the headache of dealing with 3 currencies, the dollar element is now removed and we have a normal 2-way quote.

This takes off some dollar demand pressure as people who want to buy stuff from China can face their Yuan squarely while the dollar people face their dollars. At least we get to know who is who. All of this is, of course, conditional on the amount of Yuan being swapped.

But what are the Chinese guys going to do with their N30bn? Same thing — they can now pay in naira for anything they buy from their Nigerian trading partners. Gerrit?

Good. Bring them all to justice. Stealing money for security when thousands are killed and thousands are going hungry in idp camp.

justmenoni:
why should nigeria be borrowing ordinary 6billion when billions upon billions of dollars has been returned and trillions of naira has been returned as well...why are they not disputing this fact from fayose?

Nigerian didn't borrow money. It was a currency swap deal.

Don't sweat it Gbajamila, the Chinese government didn't take the foul mouthed rascal serious. They didn't even know he was in China cos he was at a state fair not with diplomats. Shameless governor. See him bald head

Shameful.

Destined2win:
The hotel is cheap at 60m

I concur.

Airforce1:
congrats bro

It's not easy.


I hope wizkid, davido follows your footstep by investing the money they ha because music won't pay bills forever.

That you didn't hammer big in music doesn't mean those that hammer will go broke o.

pasol4real:
Am sure your sisters b girlfriends stinks more.
At least linda has got all the money to take care of her self .
Unlike the broke ass niggas u n ur sisters are .
Stop hating on some one who can feed u n ur entire village for as long as the world wud exist .

That ur sisters and mooodddaaaa's pussay stinks doesn't mean all pussay stinks. Yeah she's rich but her pussay stinks like rotten eggs

How has our over religiousness helped us? Scrape all form of religion from the syllabus shikenan.

So?

YelloweWest:
I like it when comments like these are made. It stirs up a fire in us.
I can assure you that Nigeria as you see it won't last. If the yorubas and North love themselves so much they.are free to be one Nigeria. The Niger delta is simply out
No one can force us to be part of a union majority of us don't want to be.

He pain am HAHAHAHAHA. Tell me who be slaves? U that have oil while yorubas and hausas feed fat from it or the yorubas and hausas ruling u. Idiota.

I'm I the only one tired with this Lagos Calabar rail brouhaha?

Buhari, do and pass budget, the town is not smiling. Ur I too know is becoming unbearable.

Amaechi, go and rest we don taya with ur face. Start making noise wen we see the rail construction in progress.

Reps, God punish una for stealing, eating, and greedily allocating all those huge benefits, cars, money, etc without representing those who vote u there. Thunder faya una.

I'm done venting. Bye

Sunnycliff:
Thought the FG is strong, why have they not caught Tompolo?? is his Government greater than Government?

don't rejoice yet. He may be caught this very day. Now we know who d real coward is.

Shebi e de run in mouth like tap wey no get control. why e run?

Dubemkelly:
Praiz and his brown set of teeth...It only takes lil patience for an adult to brush their teeth

una get korel before?

Babanla miss

Is that tattoo or birthmark?

YelloweWest:
And yet you and your people still play slave to the north.

I am from the Niger delta. Our brother may have lost but we are not slaves to the north like you yorubas!

who asked u where u came from dumbaarrzzee. Pray tell me how yoruba are slaves to hausas At least in the seventeen years of our democracy, yorubas have ruled for eight years and now have a vice president. Tell me what your people who aren't slaves have benefited aside shouting marginalization as yorubas and hausas own more oil rigs than u miscreants in ur faaaadaaaa's back yard. Who's d slave?

Mack3N:
no difference b/w you and the overgrown baby wizdaft,only cowardice loud mouth as if your mouth fit off internet!
Thats how your silly loud mouth cheers almost landed him a lawsuit,if not that he cowardly apologized.linda will keep reporting and exposing fake celebrities,if you don't like it,break your phone and spare me the gebbrish!

LINDA PUSSAY STINKS

Airforce1:
they only want to share from your blessings.

Don't be over tight fisted madam.

I hope u will yield to scammers when u finally realize ur album so that they can share from ur blessing.

Sharp smart funny sisi mama.