₦airaland Forum

billante: Interest rates go up everyone attacks SLS. But you can have low rates with high inflation, a weak naira and no reserve buffers. You can’t eat your cake and have it. I am improving the efficiency of the banking system and currency operations. Is it popular? I don’t know and frankly don’t care. I have a job to do and will do it.

fankasibe: this was exactly what happened to me last week, when i tried explaining to their boss he said...."mr.man haven't u being enjoining how service through out last month....GOD will punish u if u lie".....but he later reduce my bill from 11,300 to 3,600.

bknight: If d coffin bearing activists catch u and lynch u, I will rejoice. You know why? because ur post reeks of myopic 'wisdom'.

I think u shld identify wit d garri team. Take d oath and join. U hv same traits they've got

Mandarin teaching in schools to benefit from new UK-China partnership
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Date: 10 November 2010
Education Secretary Michael Gove today announced a pioneering new partnership with China to train 1000 more Mandarin teachers for secondary schools in England.

During a visit to China to build stronger education partnerships with the Chinese,
Mr Gove launched the joint programme between the Specialist Schools and Academies Trust and Hanban (the Confucius Institute Headquarters). It is to run over the next five years.

Mandarin is an increasingly popular subject choice for young people at GCSE but in England there are currently only around 100 qualified Mandarin teachers, and only 16 per cent of secondary schools offered Chinese language teaching in 2009.

This new partnership will increase the quality and quantity of Mandarin teaching in schools and allow more young people than ever before the chance to study this important language. Increasing the number of Mandarin speakers will help equip Britain’s future workforce with the skills we need to compete in a globalised economy.

Speaking from Beijing, Michael Gove said:

I am delighted to be building a stronger education partnership with the Chinese. There is a lot our countries can learn from each other and we want to work together to deliver world-class standards in schools through the greater sharing of knowledge and experience.

This is not just about fostering a better understanding of China among our young people. Offering every young person the chance to learn Mandarin will help to encourage mobility between the two countries, equip the next generation with the skills they need to succeed, and ensure the long-term success of our economy and society.

Elizabeth Reid, Chief Executive at the Specialist Schools and Academies Trust, said:

China is at the centre of the global economy and the next generation will need to understand its culture and be able to work in its language – which is why we are delighted to be signing a Memorandum of Understanding with Hanban to train 1000 teachers of Mandarin Chinese over the next five years to meet the growing demand in England.

This new five-year programme will be co-financed by the two organisations and will begin in July 2011. The programme is aimed at dealing with the immediate shortage of Mandarin teachers and enabling schools to meet the rapidly rising demand for Mandarin teaching. In five years, the supply of qualified Mandarin teachers should have increased sufficiently to match demand, but the situation will be kept under review.

Chinese Language Courses & Activities
SOAS Language Centre in London provides weekday daytime, evening and Saturday language tuition in Mandarin, Cantonese, Hokkien, for mother-tongue and non-mother-tongue speakers. We can also offer courses in a number of other major Chinese dialects.

SOAS Language Centre operates the largest non-degree Chinese language programme in the UK. It runs over 120 scheduled courses a year, including both full time and part time courses. In addition, we offer individual tuition or small group tuition tailor-made according to the needs of the clients, be they from the business community, government departments or other institutions.

Each year there are about 1400 registrations on its various Chinese language courses, and SOAS Language Centre has a team of nearly 30 teachers, all of whom are native speakers of Chinese.

Our teacher training programme offers a Postgraduate Certificate and Diploma in Teaching Chinese to Speakers of Other Languages.

HSK tests take place twice yearly at SOAS here in central London, managed by our colleagues at SOAS' London Confucius Institute.

Interested in undergraduate and postgraduate study in Chinese? Our colleagues in the Department of the Languages & Cultures of China & Inner Asia can help you with that.

Chinese is the language to learn
By Melissa Jackson
BBC News education reporter


Linking up with Chinese schools is proving successful
Cantonese and Mandarin are the languages children should be learning at school if we are to capitalise on the future business potential of China, say experts.

China has the world's fastest growing economy and is rapidly becoming an influential player in global business and industry.

With the government announcing another £115m for foreign language teaching in England's schools, now is a good time to focus on how best to spend it.

Some schools are already ahead of the game - offering lessons in these key languages, which could help the next generation of business leaders conquer this rich and influential market.

Lauriston primary school in Hackney is taking the initiative with a 10-week Mandarin language project for 10 and 11-year-olds pupils in year 6.


China's economy is growing so quickly and becoming so influential in the world economy that people can't afford to ignore it
Mary Hennock, BBC business reporter
They have one lesson a week in Chinese and have already mastered the basics, like "hello" and "how are you".

They have also linked up with a school in Shen Yang, north-east China, to learn about their culture and their way of life.

Lauriston primary teacher Aidan O'Kelly helped organise the project after visiting several schools in China last May.

He said: "I came back thinking 'this is going to be a powerful economy'.

"The China project came out of Hackney's drive to promote links between our schools and those in China and to promote the Chinese language."

The group of 31 children from year 6 has been split into two smaller groups and a Chinese teacher come in every Friday to give them lessons in Mandarin - the language of northern China.

Mr O'Kelly said: "The first group project was a resounding success - the children were really enthusiastic and positive."

The children have also made short videos about themselves and their local community and have sent them off to their link school in China and hope to receive something similar in return.

More twinning

In another project, 40 London primary schools have formed a programme of exchange with schools in Beijing.

They link up via computer, courtesy of internet broadband provider the London Grid for Learning (LGfL).

During the links, Chinese pupils communicate with British pupils with the help of English-speaking teachers although many of the students in Beijing are already learning English and are fairly competent in the language.

LGfL content manager David Mason said: "The emphasis is on computers for the sake of learning.

"You get a class in London working with one in Beijing on the same topic - maybe in geography, maths, art or dance.

"The emphasis is on getting children working with each other on a common theme."

Last month, Chancellor Gordon Brown visited China and announced that he expects British exports to the country to quadruple by the end of the decade.

He made it clear in a speech he delivered during that trip that he wants every school, college and university to be twinned with an equivalent in China within the next five years.

The buoyant Chinese market is one that Britain needs to conquer and mastering the language is fundamental to this process.

BBC business reporter Mary Hennock said: "China's economy is growing so quickly and becoming so influential in the world economy that people can't afford to ignore it.

"British universities are educating thousands of engineering students from China and British companies are going to be competing with students educated in Britain, speaking fluent English and Chinese - these are going to be the executives of the future.

"People who want to be ahead in whatever industry need to think about China and learning Chinese."

infolekan: You can easily spare us your elderly advise and information on the countries you've been to....doesn't make you a wise man or an authority on economic issues.(Half of you so called rich in Nigeria are just stark illiterates with stolen public funds).
Security is still a major challenge.....power....road....educationad almost all sectors are collapsing and the next best thing that can happen to the COUNTRY is this debatable 5000 naira note.
In all your various sojourns....it is well know that it is only Nigerians that spend cash in abroad. Haven't bought anything over a 1000$ with cash before in the US. What's the idea behind the cashless policy if we are still rolling out 5000 naira notes? Thought that was the reason behind the cashless policy? Less cash so as to have money trails and to monitor all these corrupt politicians and heartless businessmen.
And you can ask yourself what happened to our 5k and 10k coins that were introduced and even the 5naira notes self.
The 40billion should be used to fight corruption and build infrastructures and probably to remove nitwits like you who hide behind the anonymosity of social networks to proliferate garbage out of their mouth and still have the audacity to challenge right thinking people calling them 'youths'. Mtschewww

chamber2: ^^^

If this is how Economists reason in real life then i would rather not study it. What if the same N40b was spent on maybe Agriculture, rural health facilities, education etc wouldn't it have been better? You have obviously lost touch with reality. Where is Soludo's coins after 5yrs of its introduction? Did you know how much that was spent introducing the current N1000 note by soludo and the polymer notes, of what use are they after 5yrs?

crown777: The crux of the matter is the implication that this will have on our individual lives and national economy. One of the indices of a GROWING INFLATION, is the creation of Higher Local Currency Bill, NO matter what CBN or the Managers of our economy say, they know too well in their minds.

The highest bill in the US is $100, Britain is €50, Ghana 50 Cedi, Have ever had a scene where you're forced to spend N100 or above for a service that's worth N50, all because the service provider claims ;"No Change"? This in itself is inflationary.

Ask them in Zimbabwe where the highest currency in circulation is $100 Trillion Bill, but no one spends it. Instead, people use the US dollars and South African rands for their daily transactions!

We will soon be buying things now sold for about N3,000 - N4,500; for N5,000.00!

It is terrible!

Why are we not emulating Ghana where they just redenominated their currency? Why can't we do same to manage our economy?

The answer is clear; if we redenominate THEY will lose the money already stolen and kept abroad. For instance if we redenominate by cutting down two zeros, N1,000 becomes N10 while N100 becomes N1. In a similar way one dollar will exchange for N1.55k. Therefore $100m will be N1.5m. Naira will become stronger against many currencies and stealing money abroad will become unattractive.

Why are we going for higher denomination when CBN is spending billions to promote a cashless economy?

Join to say no to introduction of higher denomination of naira . Let's save our economy. If we have 2 re-occupy Nigeria or CBN (this time), let's do it....even if ₪o† for ourselves then let's do it for d future of our children and their unborn children!! Before they turns us to millionaires that can't buy bread

We elected them we don't need a higher currency.

debosky: We can't wait for 150m people to agree before we move forward on any issue all in the name of 'consultation'.

chamber2: You seem to me like one ''obodo oyibo'' bred kid! No economy functions in isolation of the socio-psychological disposition of the people. Spending N40b just to print some piece of paper so as to create some measure of convenience is bad economics if you ask me, especially in a country riddled with poverty, inequality, corruption and unemployment. The ONLY benefit of the N5000 is the assumed convenience it creates and the reduction in currency management cost. Aside this, nothing else. Over the last few months the CBN and it's agents have been selling the ''cashless'' policy gospel to Nigerians. This policy was designed to reduce the quantum of cash in circulation, promote operational efficiency, reduce thievery and other vices, and ultimately leads to job creation through the establishment of POS and other payment infrastructures. Now, tell me where the N5000 enters into the equation? Cashless policy and new currency introduction, complete counter-policy initiative!

On the issue of coins, history has shown that Nigerians dont feel comfortable carrying coins. This may be as a result of lack of facilities that will facilitate the use of coins e.g phone boots, train transportation etc. So, reducing N20 to coin will mean outright disappearance of these lower denominations thereby making N50 the lowest denomination with its attendant inflation pressure. So, couldn't the CBN wait for a while to see how successful the cashless policy will be before this new currency restructuring? Why the haste? The cashless policy would have complemented the new currency if adequate time was given for a complete introduction of the cashless regime.

Now, one CBN deputy governor came up to say that the people can reject the N5000 note from the commercial banks if they deem necessary. Reject a legal tender, how possible? The problem we have as a country is that we live in a time when those in positions of authority systematically lie to its people so as to gain little personal advantage. This is the delima of the Nigerian society

philip0906: You are obviously deluded. . .what change are u talking about? Many years back #1=$1 now #160=$1. Is dat the change u r talking about? Nigerians are asking what happened 2 50kobo and d likes? Nigerians are craving 4 when #500 could feed u and ur family.Thats what we are talking about.U r calling japan and Korea? countries whose economies dwarfs ours?y not call the u.S.A and Britain whose currencies we rivaled back in d days.If u don't mind kindly tell us one policy that ur paymaster sanusi has brought that has +vely affected the lives of d masses?
U are calling China? D china dat has a zero policy on corruption? The china dat has pushed aside politics 2 better the lives of the masses? U need 2 get ur head checked or better still update urself like i earlier suggested.

oradee: so whats ur point? that we shld print notes to the eqivalent of their value? instead of trying to strengthen our our curency?
America is 3times the size of Nigeria (wif more influx of immigrants) yet neither u nor i have withdrawn $5000...
Im sure this was the arguement Zimbabbwe had till their economy became hyper-inflated.
You still havent told me/us where cash-less policy comes to play in this N5000 thingy

oradee: You really shld study the nigerian history and metality...

1)Atedo Peterside says the new notes wld make it difficult for robbers to operate in dollars (but easier to rob in naira). are they making stealing more convenient for them?
2) i our futile bid to imitate the Western country,is there anytime you,ur parents or family and even those going on foreign trips have withdrawn $1000 or %5000 dollars from foreign banks or ATM's?
3) in line of their argument that it costs less to print one N5000 than printing one hundred N50, dont u know that it wld actually cost twice as much cos a N5000 transaction wld definately require change (unless they expect us to always completely spend N5000 in one sitting)
4) while Ghana is smart enuf to remove two zero's from their currency, cant we borrow a leaf from them and start from one zero?
50the same arguement in favour of the N5000 is tha same they gave for the N1000...shle we expect more notes from future CBN govts?
6) We (south,east and west) dont trade in coins...lets not delude ourselves any further..
7) i strongly believe that CBN's insistence on going along wif this is becoming an Ego thing...Sanusi dont wanna be seen as GEJ who makes absurd policies without due considerations

philip0906: You know absolutely nothing about how Nigeria works-u must be filled with 2much textbook economics.We are talking practical here. . .go update urself b4 u begin yarning dust.

supereagle: Meanwhile, the NBA has said it will go to court to stop the CBN from going ahead with the proposed introduction of N5000 note.

The association had in a statement described the proposal as a “shallow and poorly thought-out initiative” by the CBN. It added that N5000 notes would diminish the lives of Nigerians and push corruption and money laundering to unimaginable heights.

The NBA president, Mr. Okey Wali (SAN), while reacting to the endorsement of the scheme by the National Economic Management Team, said the association had not changed its position.

Wali, in a telephone interview with one of our correspondents, explained that though the association was watching the situation, it would not go back on its position.

Wali said, “We are watching the situation, but we are maintaining our position that the CBN should not go ahead with the introduction of N5000 note.

“We made it very clear in our communiqué why the Federal Government should not go ahead with it (introduction of N5000 note).”




http://www.punchng.com/news/bank-customers-can-reject-n5000-note-cbn/

StewieGriffin: ive followed alot of your posts on nairaland in the last year or so and ill have to say you are one of the most reasonable person on this forum. My problem with you is this: why do you waste your time trying to reason with people who cannot be reasoned with in the first place? You expend so much energy trying to make sense while the bigots only use you as cannon fodder. Why not leave fools to their folly? Nairaland is a joke. Guy let it go. Bigots run this place not reason.

ados4ejy: Furo sabi play ball.Abeg make we hear word o

gistme24: Eddie ngini ?