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Biafranbaby's Posts

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Politics / Re: Deduction Of Stamp Duties From Savings Account By Diamond Bank PLC Is Illegal by biafranbaby(m): 9:38pm On Feb 04, 2016
did you send or receive?

How much? How many times?
Politics / Re: LASTMA Official, Army Cadet & Police In A Brawl In Lagos Today (Pics) by biafranbaby(m): 8:50pm On Feb 04, 2016
zoo people
Politics / Re: Tanzanian Woman Stripped Nake.d, Paraded, And Beaten Up By Indian Mob by biafranbaby(m): 5:38pm On Feb 03, 2016
And here I was clicking for pictures...

1 Like

Politics / Re: I Was Banned In Politics Section Bc Of This In The Morning: Is This Fair? by biafranbaby(m): 5:37pm On Feb 03, 2016
hehehehehehehe
zoo people.
Politics / Re: Female Army Cadet Tortures A Man For Calling Her "Beautiful" by biafranbaby(m): 1:26pm On Feb 03, 2016
[size=18pt]THE ZOO!!!!!!!![/size]
Politics / Re: Defense HQ Confirms Pro-biafra Militants Hijacked Ship Over Kanu’s Detention by biafranbaby(m): 8:25pm On Feb 02, 2016
TonyeBarcanista:
So na IPOBians blow oil installation on our land and tried to frame Tompolo? The Nigeria military should deploy every force on these people. In fact, it is high time IPOB is proscribed as a terrorist organisation undecided



Ewu n'ebe akwa
Kparanuma.

4 Likes

Business / Re: Pls, What Does It Mean To Devalue Naira? by biafranbaby(m): 8:22pm On Feb 02, 2016
This is when you need google.
Politics / Re: 50 Naira Wise, Billion Naira Foolish!, By Reno Omokri by biafranbaby(m): 9:47pm On Feb 01, 2016
collinsVP:


Biko ejim chineke na ayo gi, Emekatakwana kpomu aha na odinairu! muana udi mmadugi anagi akpa nkata. ozo dika ibeya bu na iga eje gusie akwukwo gi ike, tupu iputa igwe kwuo okwu.

zoo gbagoro zoo gbada. Iberibe

Nna, kedu mgbe obidoro sebere anyi?
Politics / Re: Can Nigeria Become A Developed Nation? by biafranbaby(m): 8:07pm On Feb 01, 2016
no

1 Like

Politics / Re: London Of 1930 Was Better Than Nigeria Of 2016 - Pictorial Evidence by biafranbaby(m): 8:03pm On Feb 01, 2016
Ol' boy na wa for you o! Egypt 4000BC had better planning than your Capital city.

12 Likes

Politics / Re: Nigerian Habits We Should Curb by biafranbaby(m): 7:59pm On Feb 01, 2016
The reverse is the case for me.

Tribalism: This is as natural as breathing.

Respect for elders: This is simply backwardness disguised as humility. This is simply why Africa is backwards. You are genetically better and more intelligent than your elders. Who should respect whom? All elders should retire and let younger generation manage things if we must advance.

Use of expletives: There is this thing called "freedom of speech" which I believe must be absolute, even if it offends.

Too much haste: Have you not heard that successful men are always in a hurry? Laziness of Nigerians is legendary and here you are promoting more laziness. We must make haste and shun laziness.
Politics / Re: Bayelsa Bombing & Water Pollution: When Did Nigerians Become This silly? by biafranbaby(m): 7:51pm On Feb 01, 2016
This one nigeria dey sweet eh!

1 Like

Politics / Re: Buhari To Visit France And Britain Tomorrow by biafranbaby(m): 7:33pm On Feb 01, 2016
Doctor's appointment.
Politics / Re: 50 Naira Wise, Billion Naira Foolish!, By Reno Omokri by biafranbaby(m): 7:33pm On Feb 01, 2016
collinsVP:


CONCEPTS in practice are applied with desecration not hook line and sinker.

thanks

VAT is not a concept.

What you are proposing is another tax on the supplier: tax on his turnover. That would be double taxation as he would already be paying tax on his profits. Double taxation is not allowed (maybe in a Zoo, who knows).
Politics / Re: 50 Naira Wise, Billion Naira Foolish!, By Reno Omokri by biafranbaby(m): 5:03pm On Feb 01, 2016
collinsVP:


strictly speaking, you collect from their source supply, not from the hawkers we buy from. mind you the VAT effect on their profit, could be so insignificant, such that, they might still sell at #50 per one.

Then it won't be VAT.
Politics / Re: 50 Naira Wise, Billion Naira Foolish!, By Reno Omokri by biafranbaby(m): 2:47pm On Feb 01, 2016
collinsVP:
This is absolutely on point. There are more subtle ways to generate revenue, devoid of backlash as encapsulated in the above article.

VAT could have been more appropriate because, it leaves one with no option of opting out, especially when imposed on goods that have high demand, but not necessarily essential goods. Invariably people hardly realize they pay this kind of tax.

arguably on the other hand, #50 duty on cash, deposits amounts to double taxation to the best of my knowledge, and there should be a rethink.


Please, how do you collect VAT from gala seller?
Politics / Re: This Is The Ajegunle CNN Won't Show You by biafranbaby(m): 11:45am On Jan 31, 2016
thefakestan:
I have to be honest.
I don't understand this.








ThefakeStan

Just laugh and pretend you do; like everybody else.

Hahahahaha grin grin grin grin grin grin
Politics / Re: For Nigerians Only And Nigerians Alone!!! ..........part 6 by biafranbaby(m): 11:42am On Jan 31, 2016
WTF
Politics / Re: 'it Takes A Man Who Has The Fear Of God To Relinquish Power So Easily' - GEJ by biafranbaby(m): 11:40am On Jan 31, 2016
Coward.
Politics / Re: I'm Grateful To Learn From #kenyatta Because He's My Senior —president #buhari by biafranbaby(m): 7:24pm On Jan 30, 2016
MAROC:
Senior?

Na NEPA certificate dey talk now.

2 Likes

Politics / Re: Explosion Hits Agip Pipeline In Bayelsa by biafranbaby(m): 7:21pm On Jan 30, 2016
Thank you Satan.

2 Likes

Politics / Re: Buhari Warned By Tb Joshua On Naira Devaluation by biafranbaby(m): 4:57pm On Jan 30, 2016
man of doG
aka MOD
Politics / Buhari Takes Over Central Bank Naira Management - Bloomberg. by biafranbaby(m): 5:18pm On Jan 29, 2016
Our current retired dictator has once again ignored the democratic independence of the central bank of federal republic of nigeria and insisted that he is in charge of our monetary policy.

See for yourself.

Nigeria’s President Muhammadu Buhari erased any doubt about who is in charge of currency policy in Africa’s biggest economy -- to the detriment of the central bank’s independence.

Buhari said that he won’t “kill the naira” by allowing it to be devalued and that a weaker currency will only result in higher inflation and hardship for the country’s poor- and middle-class. His comments to Nigerians living in Kenya on Wednesday came only a day after Governor Godwin Emefiele resisted pressure to depreciate the naira despite a plunge in oil prices that’s slashed revenue in Africa’s biggest crude producer.

“Definitely the independence of the Central Bank of Nigeria at the moment is undermined,” Robert Omotunde, an analyst at Afrinvest West Africa Ltd., which manages the equivalent of $500 million, said by phone from Lagos. “It further dampens confidence in the Nigerian market. The argument for devaluation is so overwhelming on all fronts.”

Emefiele this week stuck to foreign-exchange restrictions that have caused capital flight, curbed output and led to the naira dropping to a record low on the black market. The central bank has pegged the currency at 197-199 per dollar since March to stem its slide amid a rout in oil prices.
More Convincing

While Buhari’s “mind is open and he’s prepared to listen to other arguments,” the central bank “is not a sovereign entity” and accounts to the presidency and Parliament, Garba Shehu, a spokesman for the president, said by phone.

“The thinking of the president is informed by advice from the central bank,” Shehu said. “He meets with the governor at least once a week, sometimes more than once. The president is in the loop.”

The central bank will hold a meeting with foreign-exchange officers from commercial lenders on Feb. 4 at 9 a.m. in Lagos. The aim is to discuss developments in the currency market and “offer contributions in charting the direction for 2016,” it said in a statement dated Jan. 27 and published on its website on Friday.

Ibrahim Mu’azu, a spokesman in Abuja for the central bank, didn’t answer two calls to his mobile phone or immediately respond to a text message requesting comment. Finance Minister Kemi Adeosun said in an interview last week that the central bank was “completely independent.”

Buhari’s critics will have to work much harder to convince him that “ordinary Nigerians will gain anything” from a devaluation, Shehu said separately in a statement on Thursday. That’s despite the policy causing a shortage of foreign-exchange and being criticized by investors and businesses for exacerbating the economic slump.
Recession Risk

The International Monetary Fund said growth was 3 percent in 2015, the slowest pace since 1999. A recession this year cannot be ruled out “should the status quo remain,” Andrea Masia, a Johannesburg-based analyst at Morgan Stanley, said in a research note on Friday.

“It seems like Emefiele’s just left it to Buhari,” Bloomberg Intelligence analyst Mark Bohlund said on Friday. “In the near term, monetary policy decisions look likely to be steered by the president, and according to policy prescriptions from another era.”

Buhari, 73, is a former general who last ruled Nigeria from 1983 to 1985.

Three-month naira forwards weakened 0.2 percent to 227 per dollar as of 3:12 p.m. in Lagos. That’s pared the best weekly advance on record, with the contracts rallying about 10 percent as traders scaled back the size of a potential currency devaluation following Emefiele’s decision on Tuesday. The black market rate has plunged, falling to a record 307 this week.

The governor called for coordination of fiscal and monetary policies to help steer the economy away from oil dependence, while offering few hints on whether he is ready to ease controls to compensate for a decline in crude prices, which have almost halved since June to about $35 a barrel. Nigeria relies on oil for most exports and two-thirds of government revenue.

“One would have expected the CBN to take decisions that are in the interest of the country, not whether the president likes the decision or not,” Afrinvest’s Omotunde said. “For the CBN to refuse to devalue at this point in time is enough reason for most foreign investors to stay away from the market.’


http://www.bloomberg.com/news/articles/2016-01-29/buhari-blights-nigerian-central-bank-independence-to-save-naira

23 Likes 6 Shares

Family / Re: Woman Strips Son Unclad,Drags Him To School For Stealing N5,000 In Delta(photo) by biafranbaby(m): 5:06pm On Jan 28, 2016
The zoo
Politics / Re: MOPOL And Naval Personnel Clash In Port Harcourt by biafranbaby(m): 9:02pm On Jan 27, 2016
Zoo forces are confused.
Politics / Re: EFCC Seals Ihejirika's Estate In Abuja! (Photos) by biafranbaby(m): 5:02pm On Jan 27, 2016
Meanwhile, dollar is now at 307 naira.
Politics / Re: Photos: Fire Outbreak At A Building In Lagos, Children Trapped Inside by biafranbaby(m): 4:43pm On Jan 27, 2016
Hahahahahahahaha
grin grin grin grin grin grin grin grin

Lord Satan o! come and take praises.
Politics / Re: Nigerian army speaks buratai's role arms deal scandal. by biafranbaby(m): 12:48pm On Jan 25, 2016
Obiagelli:
The army’s spokesperson stated that
contrary to group’s mischief, Buratai
was Director of Procurement at
Defence Headquarters from March
2014 to May 2015, not from 2012 to
2015 as was said.


Typical, making allegations without facts.

So who was the director of procurement from 2012 to 2014?

Did embezzlement stop after 2014?

4 Likes 1 Share

Politics / Re: CORRUPTION & WASTAGE: Buhari And Jonathan, At A Glance. by biafranbaby(m): 12:42pm On Jan 25, 2016
My eyes hurt.
Politics / Re: Nigerian army speaks buratai's role arms deal scandal. by biafranbaby(m): 12:41pm On Jan 25, 2016
So the accusation na true eh!

Thanks NA for confirming.

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