₦airaland Forum

"We spent too much efforts and resources rebranding Buhari. This is why it is difficult for us to fold our arms and watch the new image go down in dirts – real or imagined - again"

“A company of wolves, is better than a company of wolves in sheep's clothing.”
― Anthony Liccione

"Buhari risks a crisis of democratic accountability" Why are you people crying so soon? Buhari is only doing what many knew he would do. He is not a democrat and his almajiris sai chanters have no problem with him.

[b]

WombRaiders:
I am from the SouthSouth and from Delta and not of Igbo extraction.

We are not stup1d to easily forget how Yorubas insulted us by ridiculing Jonathan as a common drunken fisherman.

We also are aware of how they sided with the north in the recently concluded Soverign National Confrence to frustrate our aggigtation for resource control.

We also know how Awolowo mandated all oil companies to have their corporate H Q in Lagos and how the Yorubas keep frustrating any attempt to develop a port outside their region.

We have also not forgotten how a Yoruba man sold Bakassi to France and our deep oil wells to Sao Tome from where he now owns a drilling company.

We are not all Amaechi's in the ND.

The Yoruba most understand that the average ND man is busy looking for his livelihood and will not bother with cheap political alignment until it matters and the last 16 yrs climaxing with the recently concluded elections ought to be a pointer that we in the ND do not share your political affiliations, views and aspirations.

When last did you hear of any ND state voting in AC, ACN , AD or your useless APC?

The overwhelming support GEJ and PDP got should be a pointer to you.

I guess this is why Rivers election tribunal is so important to you osogbo louts than your impoverished state.

No matter your plots to subvert Wike's unequivocal mandate given to him by the People you can never ever plant your witch broom in Rivers or any where in the ND.

Now go and shout Sai Baba.

Slaves

[/b]

As usual I throw salute for you.

AreaFada2:
Isaac Newton abi Albert Eistein who knows all, why not enlighten us? Or you mean the pictures posted are fake?

Abi na swearing be ur specialty?

No need, you cannot help yourself.

Kastonkastroll:
What happened with all the allocations the delta state gets from the FG ? Like this is a state that gets more money than Ogun, Oyo, osun and ekiti combined from the FG. smh

Delta state is still better than all the states named. It is not the job of government to feed and clothe people.

[s]

AreaFada2:
Used to build an international airport in Asaba and do other stuff. Rural people hardly get anything. Lots of the money siphoned of course. This is Ibori's State remember. Uduaghan is Ibori's cousin. Let's see what Okowa will do.

[/s]

Some of you should keep your rubbish in your head.

When people fail themselves you blame government. So government should feed and clothe them because they are from the Niger delta? I understand, if you complain about lack of social infrastructures like clean water, light and good roads. Most parts of delta state were undeveloped 25-30 years ago, nobody was hungry then, quite frankly people were better off than most today.

Patani is a rural farming and fishing town, even with the high pollution from oil exploration, there are still farm land and waters to make a relative okay living. The OP, should have presented a complete picture of patani, not this subjective insult.

Whynotthetruth:
Learn to apply your first sentence to yourself before encouraging others to follow suit...

How's it speculative?...A narrative of an event and facts of history is what in your bigotry you wanna twist now?...Impossible!!!

If it has the signature of president because nobody in presidency can do such without repercussion, so how come sister agencies are protesting?...how come they and other military hierarchy were afraid and uneasy?...Why were they confronted with imminent sack?...You have never heard of such compromised officers because bigotry has made you blind and deaf...Was Sokoto Kabiru, the man who championed the Madala St. Theresa bombing not released or freed to escape by a compromised officer...Have we not heard stories of soldiers shooting their fellow soldiers because they are sympathetic like you to boko haram?

What being a closet terrorist has done to your mental capacity can only be imagined

That's all you need to know.

“We have to go back to the good old days of transparency and accountability,” the President said .

When was that

The DSS has been intercepting phone calls for years. Every country on this planet is doing the same to a certain level.

ULSHERLAN:
I dont think you comprehend what the news is all about.

You cant just say thrash all the time.

Please make some sense even if it's once in a while

What's the news about alamjiri, please tell me.

Mogidi:
Its Christians that produce the nations wealth, Buhari's not doing us a favour.

This is economic sabotage, only the almajiri pretenders see anything good here.

BUHARI APPROVES BUHARI HAS NOW BECOME A CURRENCY TRADER. NIGERIA E DON HAPPEN.

PEOPLE REMEMBER THE INTERBANK RATE IS 198 AND THE PLACE WHERE MOST OF US GET OUR FOREIGN CURRENCY IS 236 TO A DOLLAR. YET THE FUHRER BUHARI HAS DECIDED TO RESET THE NUMBER TO 160. THIS COUNTRY IS DEFINITELY SCREWED.

The Debt Management Office (DMO) on Monday listed outstanding ₦4.85 trillion Federal Government of Nigeria Bonds and quotation of ₦2.80 trillion Nigeria Treasury Bills (NTB) on the FMDQ OTC platform.

Dr Abraham Nwankwo, DMO Director-General, at the listing in Lagos, said that it was another attestation of the commitment of the government to further develop and deepen the domestic debt market to enhance its performance of the pivotal role of financial intermediation.

Nwankwo said that the listings would generate savings and investments necessary for economic growth and development.

He noted that prior to the establishment of the E-Bond platform by the FMDQ OTC in 2014 the secondary market for FGN securities was done using the Reuters Trading Platform and the ICAP Electronic Trading Community System.

Nwankwo explained that although FGN bonds and NTBs were already listed on the FMDQ E-Bond platform and FGN bonds listed on the Nigerian Stock Exchange, the listing of the outstanding securities would boost liquidity.

He, however, said that listing of these FGN securities on FMDQ OTC was to identify with the laudable initiative of market operators and regulators in introducing the FMDQ E-Bond platform.

According to Nwankwo, the listing will upgrade trading in fixed income securities.

He also pledged the institution’s commitment to comply with the listing requirements, adding that DMO would continue to direct all efforts toward ensuring a vibrant domestic debt securities market in Nigeria.

Nwankwo urged FMDQ to continue to provide a robust and credible OTC platform for the listed FGN securities to the public and improve market transparency and price discovery.

He also called on the organisation to monitor the activities of dealers to ensure accountability and publish relevant market data and information as and when due to guide investors in their investment decisions.

Also speaking, Mr Phillips Oduoza, FMDQ OTC, Chairman, Board Listings and Quotations Committee, said that the organisation was committed to enhanced transparency and price discovery in the development of the nation’s debt capital market.

Oduoza said that a lot of benefits would accrue from the listing of these government securities.

He added that the listing of these FGN securities on FMDQ OTC platform would lead to improved secondary market liquidity, enhanced corporate governance and efficient price discovery.

“I believe that more bonds will also be listed on this OTC platform and we urge other issuers and corporate organisations to come and list bonds on FMDQ”, Oduoza said.

Oduoza who is also the group Managing Director, UBA Plc commended the DMO for listing on FMDQ platform, noting that the debt management office had set a credible benchmark for the market.

(NAN)

http://businessdayonline.com/2015/07/dmo-lists-fgn-bonds-tbs-worth-n7-6trillion-on-fmdq-otc-platform

This is just surreal

Baba Osho why , why is every APC mouthpiece from the Niger delta mentally unstable?

Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday.

In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.

The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday.

The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported.

Write to Katy Stech at katy.stech@wsj.com

http://blogs.wsj.com/bankruptcy/2015/07/13/rapper-50-cent-files-for-bankruptcy/

nduchucks:
@ atlwireles has become a bonafide prophet of doom and the chief harbinger of bad news as far as Nigeria is concerned. Lets hope you have renounced your citizenship already, and while you are at it, join biafraworld.com dolo

Look at the boko haram supporter, having a mustabating /session over the truth

blacksta:
I am now an almajiri ..cause I stated the truth.... Sorry some of us know the truth...How GEJ bastardise the economy..

I said you have been noted

blacksta:
dumb comment ... but it started under GEJ

another almajiri you have been noted.

[s][quote author=AZeD1 post=35817495]I know you can't deal with the truth that your hero ruined this country. Sad part is you can't wish history away.
[/quote[/s]]

[s]

AZeD1:
No you are the one selling propaganda. GEJ was President when crude oil sold for record prices yet he had to borrow to pay salaries before he was booted out.
External reserves were at record levels when GEJ took over, yet he somehow found a way to drastically reduce it despite selling crude at record prices.

[/s]

When you wake up to reality, ring the primary school bell.

shachris:
keep looking for bad news to wail on, wailer.

and who caused the bolded part? Who owed the salaries, Buhari baa?

You are a dumbass, even with your 20 monikers, you still remain an almajiri dumbass. Why not take your good news to bloomberg.

What makes me sad, is the fact majority of Nigerians don't understand what's going on, in the country. They are sold empty propaganda when the opposite is the case.

It’s been five months since Johnson Umeadi and his wife, Adaku, received their salaries as government workers in southeastern Nigeria.
With Nigeria’s finances shot by last year’s collapse in oil prices, they’re struggling with rent and can’t afford school fees for their three children. Shops and grocers are no longer willing to extend them the credit they need to buy basic items such as food and drinks.
“It’s like we put all our eggs in one basket and then it went porous,” said Johnson, a 45-year-old employed by a department of Imo state responsible for infrastructure projects, in Owerri. “If one of us was working in a private company, or even engaged in petty trading, we would’ve fared better,” he said, declining to disclose his salary.

The plight of the Umeadis and others who haven’t received wages has hit everything from local shops to the banking industry in Africa’s biggest economy, in which about a third of the formal workforce of 11 million is employed by the state, according to Renaissance Capital. The cash crunch is undermining the prospects for the new administration of President Muhammadu Buhari, who described the Treasury last month as “virtually empty.”

Oil Reliance
Banks are more wary of lending to individuals, Bisi Onasanya, head of First Bank of Nigeria Ltd., the largest local lender by assets, said last month at a Bloomberg conference in Lagos, the commercial capital.
“You have 18 states unable to pay salaries,” said Onasanya. “That reduces the number of people who are viable enough to repay your consumer loans.”

Civil servants are victims of Nigeria’s reliance on oil, which accounts for about two-thirds of the government’s revenue. A 46 percent crash in Brent crude prices in the past year has led to half of Nigeria’s 36 states, which rely on monthly federal handouts for the majority of their funding, being unable to pay wages.

The effects have been wide ranging and are hurting business as teachers, doctors and bureaucrats scrimp on spending. Listed consumer companies saw their profit before tax fall 55 percent year-on-year in the first quarter, according to Esili Eigbe, head of West African research at Exotix Partners LLP. The worst is yet to come, he said.

Tough Road
“The road ahead will be tougher,” Lagos-based Eigbe said in a client note on July 2. “Owing to the substantial decline in government revenue in Nigeria and the need to implement austerity measures, we expect that there will be a significant backlash on consumer spending.”
The Nigerian Stock Exchange All Share Index has weakened 8.4 percent this year, the seventh-most among 93 global indexes tracked by Bloomberg. Growth will decelerate to 4.8 percent in 2015, about half the average of the past decade, the International Monetary Fund estimates.

Buhari’s six-week old administration announced a bailout last week of as much as $3.5 billion for states to pay salaries and other debts. Details on when the money, which is meant to come from exports of liquefied natural gas and the central bank, will be allocated have yet to be disclosed and the package may only provide temporary relief, according to Manji Cheto, a London-based vice president at consultancy Teneo Intelligence.

Major Disaster
“A lot of investors looking at Nigeria haven’t realized the significance of this -- it is major,” Cheto said by phone. “The breadwinner in a lot of families tends to be someone who works in the public sector. On average you’d probably have 20 to 30 people that depend on that one person. You realize how much of a disaster it is on a micro level.”
While Nigerian states frequently pay salaries late, the problem is worse this time because the country depleted the buffers that may have helped it weather the crisis, she said. A government oil savings account now stands at about $2 billion, compared with $21 billion in 2008, when crude prices last crashed, according to the IMF.

“This is the first time since 1999, since the end of military rule, that we have had widespread non-payment of salaries that requires a bailout,” said Ayo Teriba, chief executive officer of Economic Associates Ltd., a Lagos-based consultancy. “It’s unprecedented in the democratic era.”

http://www.bloomberg.com/news/articles/2015-07-12/bureaucrats-go-hungry-as-nigeria-s-oil-crisis-hobbles-economy

Why are replacements not named as soon as you fire the old ones? Why create a vacuum in the chain of command?

Tonitelli:
And YOU dou were just given a logical explanation for the crux of the thread,when all u wanted to do was derail it,and this is the answer u were able to muster up?

Please tell us the logical explanation needed on this thread? Pretending something new is happening, when nothing happened?

sweetgala:
That is not an excuse that is a correction of what is wrong.

We have multiple paper companies who have no resource or assets to back it up with. Now we are cutting out waste , all these companies receiving fraudulent money, cheating the system.

This is the right thing ,the best thing to do is to suspend all licenses and make all the companies reapply for the licenses using a good criteria

Sorry, but you don't know what you are talking about.

MzJackBaueress:
dumb post!

another almajiri she/male