Ngasky:

Yes the solution to my own belief is the current solution taken by the CBN.
Talking of monopoly, all banks in Nigeria where you have account you can get your dollar at the official rate. And remember you have to justify why you need dollars officially and the issue of using multiple accounts in same or different banks does not arise as all your accounts are tied to your bvn and the CBN will be monotoring all the dollar transactions.
Also the banks will not allow any sharp practice
as they know they will be penalised by the cbn. When cbn penalise a bank it always means they will seize billions of naira from that bank. And definitely any bank that face this. Heads must roll among the staffs of that bank. So whoever is involved no matter how small his actions are must be sacked by the bank.
Historically the policy may fall. but taking into cognisant the steps taking by the CBN it will definitely succeed just like how BVN and bank capitalisation succeed.
Yes, the BDCs will attempt all they can do to kill the policy. but i dont think the banks will help them because it means more profit for the banks and the punishment by cbn they will never try it.
If banks are selling dollars they can't charge above the official rate as all transactions are electronically and cbn has already directed all brancges to open a separate teller point for change only. so you cant just enter bank and hand over naira and receive dollar. you have to complete all documentation.
So far this is the best policy by the cbn since bvn implementation

You obviously do not know that Banks are the biggest suppliers of Fx to the black market. They will sell some at official rate and sell most of it through the back to BDCs. For starters CBN gives banks more dollars than is required for PTA/BTA. So banks have extra to sell in the black market. The only thing that can stop black market is for CBN to ban cash disbursement of FX under any guise. PTA should be paid into the traveller’s account direct. Card payment restrictions should be eased and parallel market will phase out! Emefiele knows this but he will not do it because it does not pay him!

The OP does not understand how BDCs’ operate or is just working for Emefiele! Prices of currency are determined by the market forces of demand and supply not BDCs! BDCs make returns to CBN for every dollar they collect and sell. These returns comprise of the passport numbers, visa, ticket, BVN and company docs of the recipients of the FX. Emefiele’s CBN has refused to check the returns- you know why? Because more than half of the BDCs belong to Emefiele’s cronies! Emefiele approved over 3000 bdc licenses between 2016 and 2021! Why? He met 2000 BDCs in 2015- made a show of trying to reduce their number by increasing capitalization to 35m but went ahead to double their number! During the tenures of the other CBN governors- BDC licenses were not for sale- serious due diligence was done before approval but Emefiele came and changed all of that- Now Before a BDC can even start the process of applying, Emefiele must approve the name! Emefiele was approving names only for his cronies and they were in turn selling the names to the highest bidders- that was how the business of selling BDC names was birthed! Back to rate- Emefiele deliberately created scarcity in the market ( with all his restrictions on card usage, transfers etc) so that the rate in the parallel market will go high. He also flooded the market with cheap intervention funds... so in other words- too much naira was chasing the dollars! You may ask- Why would any CBN governor do that...? The answer is simple... he is criminal and corrupt! Emefiele floated a bank recently and he knows that the only way for that bank to make money is through round tripping. The economy is contracting- no serious lending going on anywhere- people are not opening new accounts like before- so it will be difficult for his bank to remain afloat- After driving the rates upwards - he is allowing supply only to banks( he has not announced the formula he is using to distribute the fx amongst the banks- i will be surprised if globus, keystone,Taj and some of the favoured banks do not get a higher share)- banks will use the same returns process that BDCs used and CBN will refuse to check because of their selfish interests! Banks will divert the Fx to the parallel market and a few bankers and their CBN backers will smile to the banks with billions of naira profit every week.

Fear God....

You think say fingers are equal nii, say u de use iphone 5se or samsung galaxy S7 edge no mean say everybody can afford to buy smartphone worth thousands of naira. different people with their budget to buy items or whatever

ddjay:
XPERIA T,abeg o mr op,a 2012 phone making a top 5 in 2016.abeg Sony Xperia have faar better phones today.mtcheew.thread closed

Please can u tell me a smartphone with that kinda specification of 3gb ram and 13MP camera that goes below 40k with the current hike in price of dollar.

I am very sure you dont know the meaning of 3gb ram and 13MP camera

list Sony Xperia products that are cheaper than 40k?

oloriooko:


The HTC Desire 820G Plus features a BoomSound speakers, a 13-megapixel BSI Sensor camera with LED flash. While it has an 8-megapixel front-facing camera and a special feature for the selfies such as smile detection, or Make-up to edit images.

The device has a great blend of design and performance and that too at a great price of ₦72,999 making it one of the best phones Under ₦40,000.
OP why do you post rubbish like this
Try proof reading your blog before publicly disgracing yourself

From the list i see from the link, it is almost impossible to pick the best device out of all these devices. Great Job you have done to at least spool out this gadgets....

WHEN IS A CANDIDATE IN A GUBERNATORIAL ELECTION IN NIGERIA DEEMED TO HAVE WON ?

By Barr. Femi Mokikan

Judges enjoy the best of all worlds. I have not heard that any judge is penalized for wrong judgements which lead to a miscarriage of justice, beyond limiting their career advancements. Am not even sure about that. Only when it is incontrovertible that a case of money for judgement is established that one hears of sanctions. You may argue that the appellate courts are there to ensure such miscarriage of justice is corrected. May be we are getting to that point when in addition to the provision of the appellate courts, some sanctions are introduced for judges that demonstrate such a questionable level of competence as some judges are wont to do. I expect to be vilified for this by some people. It is a reflection of how extremely disappointing this tribunal judgement is to me and many others. I have read the account as posted on some of the social platforms by different individuals, and the account as reported on Channels TV 10pm news and some radio stations at different times. I know I will be accused by some for reacting without waiting to read the entire judgement. I just cannot resist the urge. Because of some of what appear to me as gaffs which will do so much damage to the image and integrity of our judiciary if allowed to stand. Everything contained in the judgement appear to flow from the inability of the tribunal to answer a simple question.

There was an election on November 21 2015. The constitution says " a candidate for an election to the office of governor of a state SHALL BE DEEMED TO HAVE BEEN DULY ELECTED (caps mine). (Please note- the constitution did not say declared or announced) where, there being two or more candidates- a) he has the highest number of votes cast at the election; and b) he has not less than one quarter of all the votes cast in each of at least two thirds of all local government areas in the state". See Sec. 179 (2) of the constitution. At the time INEC declared the election inconclusive these two provisions were already satisfied. What followed thereafter we all know, I therefore will not repeat or bore you with the details. Section 181 (1) adequately provides for what to do in the unforeseen event of "a person DULY ELECTED as governor dies before taking and subscribing the oath of allegiance...the person elected with him as Deputy Governor shall be sworn in as governor..." Sec. 179(2) provides for qualifications to be DEEMED DULY ELECTED. Sec 181(1) now addresses the DULY ELECTED in the event of anything happening to him to make it impossible for swearing in. If not for the common saying that the law is an ass, I would have said this looks straight forward. The main question that Hon Faleke asked the tribunal to answer was whether INEC was right in declaring the election of November 21 inconclusive in view of what we know about the facts and the applicable laws. From all I have read and heard so far, it would appear the question is yet to be answered. The closest to it was where the tribunal said "INEC said the election was inconclusive". Who did not know that they said so? Were they right or wrong in saying so? That is where the tribunal ought to start from. All other issues will stand or collapse on whatever the answer to this question is. If the answer is that INEC erred in declaring the election inconclusive, the supplementary election will count for nothing. Since the tribunal could not answer the most critical question, and the question requires an answer, Hon Falake has to approach their superiors, which is the appeal court. And if there is no answer at that level, proceed to the Supreme Court. It is important to do this for the sake of our democracy.

It will be helpful at whatever stage the question is to be answered to avert our minds to section 53(2&4) of the Electoral Act. This is the section that has anything to do with election rerun. Supplementary or rerun election is provided for only in units where there are over voting. You will recall that not all units where INEC ordered a rerun had problems of over voting. Some were due to violence, rejection of card reader etc as reported by INEC itself. While the tribunal failed to address itself to the constitutional provisions in addressing this petition, it went ahead to base its judgement on some curious pronouncements. That Hon Faleke has no locus because he did not participate in a particular stage of the election. The tribunal took this position because it pretended not to know that sec. 179(2) of the constitution already operated to make the election conclusive. But let us even agree that it holds true for Hon Faleke, what do we say of AYB. Please check out s.141 of the Electoral Act 2010 as amended. It provides that "An election tribunal or court shall not under any circumstances declare any person a winner at an election in which such a person has not FULLY PARTICIPATED IN ALL THE STAGES OF THE ELECTION. (Caps mine). The following questions can be validly raised: how many stages make up all the stages of the election? What are these stages? The electoral act did not provide answers. In such a case the law will invite a reasonable person to assist. The question to follow will then be How many stages did AYB FULLY participate in? Please note the word FULLY. I believe the tribunal has the answer to this. Yet it took the position it took. These questions will not apply in the case of Hon Faleke if we uphold the operation of Sec. 179(2) and 181(1) of the constitution. It is also curious that the tribunal declared that AYB can inherit electoral votes. This particular provision in sec. 141 of the Electoral Act was not in the Act that preceded this. That was why it was possible for Amechi to become a governor by inheriting the votes of Celestine, without participating in all the stages of the election. It was to address the lacuna that allowed Amechi to become governor without participating in all the stages of the election that informed the provision of this section. And that is one of the reasons it is described as Electoral Act 2010 (as amended). Is it possible to imagine that none of the judges on the panel knew about this. It is even more curious when it is already a notorious fact that there have been at least two other Supreme Court decisions that reversed the decision in Amechi that electoral votes belong to the party. From the amendment to the Act and the Supreme Court decisions after Amechi, electoral votes are no longer the property of the party.

Would judges at this level deliberately take a position they ought to know is contrary to the laws of the land in dispensing Justice?
I also noticed that none of what I have heard so far alluded to any authority as the basis for each of the issues the tribunal pronounced on. May be am yet to read/see those ones.

Let me say that the judgement of the tribunal did not come to me as a surprise although it is extremely very disappointing. What makes it disappointing at this stage is the reasons adduced for throwing the petition out. Personally, I have said it in all the fora I have been privileged to address since this mandate issue started that we should expect AYB to serve a maximum of one year in office. He was sworn in in January. He has only gone close to half way as we are now in June. Justice is experienced in traveling long and winding distances, scaling obstacles and avoiding fatal arrows. It is that experience that makes Justice sweeter at the end of the day. I do hope the appellate jurists will be more interested in substantial Justice in their consideration and not be swayed by technicalities that will deliver injustice. I continue to miss our retired Chief Justice of Nigeria, Justice Belgore for his judicial radicalism that made it possible to unseat a PDP Governor under the circumstances in which he did. I hope the judiciary will produce more of his type.

In conclusion, please you must know that this is not the time to be downcast or dispirited. We must continue in high spirit as this can only be a temporary setback. The bold, confident and future-oriented amongst us must hand-hold and encourage those who may be discouraged by the judgement of the tribunal. God o

One major factor that the author of the article missed is that bello does not have a voters card- a critical requirement for contesting election. INEC erred in the first place by allowing bello to contest the election because he does not have a valid voters card. It is just like a candidate being snuck in to sit for jamb without a valid jamb registration. Any result he gets from the exam is invalid. It is just common sense. But This is the era of APC abracadabra. So let us wait and see