₦airaland Forum

Graph3

See Graph

See Graph

On 4th August 2016 CBN released a circular (although the circular have been withdraw from CBN website) directing all authorized FOREX dealers to sale FOREX to all intending pilgrims under the arrangement called Pilgrims Travelling Allowance (PTA). From the circular intending pilgrims can purchase minimum of $750 [/b]and maximum of [b]$1,000 [/b]per head at the rate of N197/$1. Meanwhile, the prevailing official rate as at August 4, 2016 was N318/$1 while parallel market rate stood at N380/$1, note the difference between subsidize rate (N197/$1) and official rate is N121/$1 while difference between subsidize rate to parallel market rate of N380/$1 is N183/$1

The total number of pilgrims this year 2016 is [b]165,167, from the data available I deduced that a whooping sum of N7.9billions or N11.9billions respectively (based on the two rate i.e official and parallel rate) would be a subsidy paying by FGN to all the pilgrims assuming they bought maximum of $1,000/pilgrim.

The first three states on the charts are KANO, KADUNA [/b]and SOKOTO[b] pilgrims and subsidy amount accrued to them if they bought at N318/$1, are N703m, N684m and N605m but if they bought it at parallel market rate N380/$1, they will get N1,063b, N1,034, and N915m respectively as subsidize amount. Hmmmmm smiley

Also, on the chart, NORTH WEST [/b]would get N3.8billion or N5.8billions represent[b] 49% of the total exchange rate differences paying off by FGN, followed by NORTH EAST,N1.5b or N2.3b respectively, represent 20% of the total amount subsidy paying off if they get it at N318/$1 and N380/$1. Note total amount paying off stood at N7.9b or N11.9b based on any of the calculated rates.

Am of opinion that government should totally excuse herself from sponsoring/funding/subsiding pilgrims (Christians and Muslim)in whatever forms. We currently having over 2.1m people at various IDP camps in our dear nation, faced with hunger, lack of drinkable waters and shelters,which they could not access. Its time for us as a nation to priorities our goals in order to meet public/masses expectations.

Corrections and constructive criticism are welcome.

God Bless FGN
God Bless Nigerians

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said that the apex bank did not provide foreign exchange at a subsidised rate for the 2016 hajj pilgrims.

Emefiele, according to a statement from the bank, explained that the insinuation that the foreign exchange for the pilgrims was subsidised by the Federal Government was untrue.

The governor stated that the agreement between the apex bank and the pilgrims had been concluded even before the commencement of the implementation of the new flexible foreign exchange policy.

He said the pilgrims had earlier in the year made what he described as “advance payment” for their personal travel allowances, noting that in the current circumstances, the advance payment made was $750 per pilgrim.

The governor explained that the advance payment was made by the pilgrims to the respective state pilgrims’ boards, after which the requests were passed by the states to the national body.

According to him, since the agreement was made in April when the market rate was N197 to a dollar, it would be unethical not to honour it.

Emefiele said refusing to provide foreign exchange to the pilgrims at the N197 per dollar agreed rate would mean that the pilgrims would have to pay the difference between the old and new rates.

This, he noted, was against sound business principle.

He said, “What is obtainable is that every year, prior to the commencement of the pilgrimage, the commissions (both Christian and Muslim) approach the CBN to agree on the exchange rate for the personal travel allowance for that particular year, which, in this case, is between $750 and $1,000 per pilgrim.

“In this particular case, the market rate prevailed. Hence, with the commencement of the flexible exchange rate policy, market-determined rates will continue to serve as the basis for foreign exchange for pilgrimage or any form of PTA in the country.”

He added that the request for PTA for pilgrimage or tourism was a valid transaction and stated that the CBN, as a responsible organisation, could not renege on agreements or contracts entered into with other groups for whatever business transactions.

http://punchng.com/pilgrims-didnt-get-forex-subsidised-rate-emefiele/

Third Pic

Second Picture

On 4th August 2016 CBN released a circular (although the circular have been withdraw from CBN website) directing all authorized FOREX dealers to sale FOREX to all intending pilgrims under the arrangement called Pilgrims Travelling Allowance (PTA). From the circular intending pilgrims can purchase minimum of $750 [/b]and maximum of [b]$1,000 [/b]per head at the rate of N197/$1. Meanwhile, the prevailing official rate as at August 4, 2016 was N318/$1 while parallel market rate stood at N380/$1, note the difference between subsidize rate (N197/$1) and official rate is N121/$1 while difference between subsidize rate to parallel market rate of N380/$1 is N183/$1

The total number of pilgrims this year 2016 is [b]165,167, from the data available I deduced that a whooping sum of N7.9billions or N11.9billions respectively (based on the two rate i.e official and parallel rate) would be a subsidy paying by FGN to all the pilgrims assuming they bought maximum of $1,000/pilgrim.

The first three states on the charts are KANO, KADUNA [/b]and SOKOTO[b] pilgrims and subsidy amount accrued to them if they bought at N318/$1, are N703m, N684m and N605m but if they bought it at parallel market rate N380/$1, they will get N1,063b, N1,034, and N915m respectively as subsidize amount. Hmmmmm

Also, on the chart, NORTH WEST [/b]would get N3.8billion or N5.8billions represent[b] 49% of the total exchange rate differences paying off by FGN, followed by NORTH EAST,N1.5b or N2.3b respectively, represent 20% of the total amount subsidy paying off if they get it at N318/$1 and N380/$1. Note total amount paying off stood at N7.9b or N11.9b based on any of the calculated rates.

Am of opinion that government should totally excuse herself from sponsoring/funding/subsiding pilgrims (Christians and Muslim)in whatever forms. We currently having over 2.1m people at various IDP camps in our dear nation, faced with hunger, lack of drinkable waters and shelters,which they could not access. Its time for us as a nation to priorities our goals in order to meet public/masses expectations.

Corrections and constructive criticism are welcome.

God Bless FGN
God Bless Nigerians

Attached is the graphical pictures.

Source: http://www.vanguardngr.com/2016/08/2016-hajj-sell-dollars-to-pilgrims-n197-cbn-authorises-banks/
Source: My personal view.

Hi Family's, please I urgently in need your advise. I drove my car Toyota Camry 2001 to church last week Sunday. The road was flooded with water but still managed through to the church and parked. After the service, I was driven back to my house, as I entered the same road I navigated through the same road, suddenly, the sound of car changes and started vibrate. I parked and open the bonnet to see any obstruction but none. Someone suggested that I should watch it for a while,Till now the vibration still on and really annoying. Please what can I do please? Please advise me.

his is Mobil Filling Station at Agbara Industrial Estate, Ogun State.
The managers decided to be selling PMS into gallon at the rate of #120/litre.
He refused to sell for motorist.

Many of us disagree with this arrangement and the manager suspend the selling of fuel.

As at yesterday, 04-04-2016 this filling station sold for vehicles at rate of #100 per litre while gallon sold for #120 per litre.

I have been on queue since 04:55am

See the attach pictures.

Please moderator, help post and repost this untill it got to the management of Mobil Headquarters.

God bless Nigerian

A President once loved by his people, but drinking power to the stupor.

To borrow any unit of MW of electricity from your friends that is currently enjoying 3 hours of electricity supply TEXT below codes accordingly.

To borrow 10mw TEXT#APC to FEBUHARI14#
To borrow 20mw TEXT #APC to MARCH4BUHARI 28#
To borrow 30mw TEXT #APC to PMB#
To borrow 50mw TEXT #APC to BABAPLS START WORKING #

Pls to qualify for this service, kindly contact Mi nister of INFORMATION & CULTURE for T&C.
Thanks for your patronage.

RIP

My king. Ajalaye 111

My dear, fine you are have served queried and perfectly replied. Don't forget that you stated that circular was released by the mgt. that affected employees should be expecting debit/credit in December salary, that is settled. if there is any other query asking you to pay the over payment, it's shows that the mgt. is double standard. Am accountant working in a multinationals, yes, you have made the mistake, error is acceptable,but the way you managed the errors matters. From your stories above, you have managed it well. In addition, those people that already commented above me,kindly send an apology letter to that effect. I thank God for your life, for having very good boss, by taken responsibility. Its true that your banker have a duties to take extra care in dealing with his/her customers, this is not period to look into that angle. However, with this current situation, its perfectly under control, because the affected people are still under the org. control. Send an apology letter to the right person and send special semi-informal letter to your immediate manager. About hatred and office politics, just it into prayers and let Great Good God do the rest.

See you laughing at the end. Please don't failed to shared your testimonies with us.

Sony Xperia E3 or E1 good for you.

I think GEJ was on visitation this morning and he has moves all policemen to where he is visiting.

Change

Not at all, I did this 32months ago

[b][/b]
Guys congratulation, may God continue to enrich your love as both of you became one.

Niaralanders, help wishing this couple HML.

Nobody is care about Federal Character Principle any more in appointing key political offices.
However, come to education, sharing of allocation revenue etc., this principles will be strictly adhere with.

PMB play a very smart game with Southerners, by removed the outgoing HOS from Northern part and quick replaced with South-South candidate

Anyhow, thanks to Falana that challenged FG that any election conducted by present composition of INEC shall be null and voids.

God Bless Great Nigerians Youth,
God Bless Nigerian.

Please before you start criticize me am typical Yoruba guy and Nigerian Youth

Nobody is care about Federal Character Principle any more in appointing key political offices.
However, come to education, sharing of allocation revenue etc., this principles will be strictly adhere with.

PMB play a very smart game with Southerners, by removed the outgoing HOS from Northern part and quick replaced with South-South candidate

Anyhow, thanks to Falana that challenged FG that any election conducted by present composition of INEC shall be null and voids.

God Bless Great Nigerians Youth,
God Bless Nigerian.

Please before you start criticize me am typical Yoruba guy and Nigerian Youth.

I can see these list full of technocrats, that will transform this Nation into heaven on earth.

Too much noise, less actions.

PMB please wake up, this is democracy not military regime.

Assume GEJ is our president when Olufale was kidnapped.

How the headlines will look like?

"GEJ and IGP must resign now"

Useless politics

See the make-up of Obama car in Kenya





















Source:http://www.naij.com/498236-drama-see-us-security-kenyan-presidents-pa-posing-obamas-limo.html

Thank God I make it to the NEXT LEVEL, I MEAN next stage.

The link below is for RCCG June, 2015 holy ghost service

http://www.holyghostservice.tv/home/

FALSE NEWS, PLEASE CONFIRM YOUR SOURCEOK [font=Lucida Sans Unicode][/font][color=#990000][/color]

somebody should give link to watch this match live on web

(5)+(3)+(+(15)=30

Vey simple as APC

[b]People should know that these people are not politician, not even hired crowd but 'The lover of "Fayose".
APC should leave this guy and let him settle down for thr real task.
God bless Ekitians
God bless me
God bless You
God bless Nigeria

People should know that these people are not politician, not even hired crowd but 'The lover of "Fayose".
APC should leave this guy and let him settle down for thr real task.
God bless Ekitians
God bless me
God bless You
God bless Nigeria[font=Lucida Sans Unicode][/font]

C is a dead man.
Check the sharp object, if E release that drum, we shall be wishing C RIP.