₦airaland Forum

dammy13:
The Central Bank of Nigeria said on Tuesday that the monthly supply of dollars at its disposal had dropped to between $600m and $700m.

While the bank had a stock of up to $3bn monthly in 2013 and 2014, it said the forex scarcity that hit the country lately had left it with roughly $700m.

The Deputy Governor, CBN, Mrs. Sarah Alade, who appeared before an ad hoc committee of the House of Representatives in Abuja, explained that the forex scarcity was the reason why the apex bank was unable to meet all demands, particularly those coming from importers of petroleum products.

The ad hoc committee, which is headed by a member from Imo State, Mr. Nnana Igbokwe, is conducting a public hearing on the review of the pump price of petrol from N145 to N70.04 as proposed by the House.

The committee had summoned the Governor of the CBN, Mr. Godwin Emefiele, to respond to allegation by importers that the bank was denying them access to forex.

Emefiele was also to explain how International Oil Companies got involved in the sale of foreign exchange to importers and petroleum marketers in the country.

But Alade, who represented the governor, told the committee that it was impossible to meet every forex demand in the light of the present scarcity.

She said, “Things are not the way they used to be.

There is a shortage of foreign exchange. In 2013 to 2014, the Federal Government used to get $2bn to $3bn monthly, and the CBN in the interbank market sold about 30 per cent of that. Seventy per cent came from foreign investors.

“Today, we get $600m or $700m. Nothing comes in from interbank market; $1.5m is sold every day and $1bn was done in December to clear matured Letters of Credit. It’s not the way it used to be.”

The Minster of State for Petroleum Resources, Dr. Ibe Kachikwu, responded to the question on why the IOCs were involved in the sale of forex to importers.

He stated that it was an arrangement to ease supply to the importers, who received between 35 per cent and 45 per cent of the available forex.

The minister described it as an “intervention scheme,” which was coordinated by the Nigerian National Petroleum Corporation and the Petroleum Products Pricing Regulatory Agency to ensure that beneficiaries were screened after duly applying for the forex.
Last I remember ...UK businesses don't charge Naira naaaa #GoFigure





Kachikwu added that the pressure on forex by fuel importers could reduce if the country refurbished all its refineries.

He stated that the government’s plan was to make the refineries fully functional and produce around eight million of the 20 million litres of daily petrol intake.

“By 2019, we should be able to exit completely the importation of petroleum products in this country. This has consistently served as a target for this government so that by December 2018, the NNPC must be able to deliver on some of the terms given them, one of which is to reduce petroleum products’ importation by 60 per cent,” he said.

http://www.kikiotolu.com/2017/02/forex-supply-drops-to-700m-monthly.html

Lalasticlala Mynd44 seun Dominique

truvine:
While we're are still complaining, some people still want to cash in on our complaint by devicing another means of scamming us

PrettyCrystal:
President Muhammadu Buhari who is currently received All Progressives Congress APC party leaders, Asiwaju Bola Ahmed Tinubu and Chief Bisi Akande, at the Abuja House, in London. The president who is on a medical vacation extended his leave just few days ago on 'orders of his doctor'.


http://www.nationalhelm.net/2017/02/bola-tinubu-bisi-akand-visit-president.html

UjSizzle:
Not self-transfer transactions and that's all I have in that account. So far I've been charged N200 on illegal stamp duties.

truvine:
I change from savings to savings-extra just because of that. Its just a savings account for God sake. Can't I save money in piece again !!!

truvine:
This is just crazy. 1st of Feb. I was charged #31,000+ and additional VAT of #1500+
5th of Feb 450 stamp duty
8th of Feb again, another 550 stamp duty.

They can't spoil my career, I will soon port.

“So, we have just exposed our pigeon pea to the Indian market, “he said.

According to him, this has given rise to expanded trade relationships between Nigeria and countries due to effective analysis and certification of products.

Isegbe said that the agency would continue to explore its mandate to fast track more commodities for export for foreign exchange earnings.

“There are other culinary herbs and spices here in Nigeria, it’s like we are used to it, we eat it every day, we don’t value it, but overseas, it costs a lot of money.

“So, we are trying to encourage exporters to go to those specialist areas to export, but then there are processes and standards they need to follow.

“We must observe all rules to ensure that our commodities are certified before entering the foreign market,” Isegbe said.

dumebiifeanyi:
http://politicsngr.com/fg-acquires-100-billion-worth-pigeon-pea-india/

BlackSeptember:
They wAnt Osibanjo to resign

alfa2016:
Actress Yvonne Jegede and actor Kunle Fawole aka Abounce son of Late Bukky Ajayi today had their court wedding.

The couple had their traditional wedding over the weekend, and if you missed it please read HERE.
The actress just shared the photo on her page with the caption :

'And it is done. #thankGodforabeautifulday'

Big congrats to the couple!

http://mojidelano.com/2017/02/its-legal-first-photo-yvonne-jegede-and-kunle-fawoles-court-wedding/

Sen. Bruce speaking on 2017 budget said the ₦250 million budget for vice presidents gate house could pay the salaries of 27,800 Nigerians with a minimum wage of ₦18,000.

nghubs1:
The common sense senator Ben Murray Bruce has reacted to the way Nigerian leaders treat their subjects.

Ben Bruce in his tweet said with the way Nigerians leaders are treating Nigerians, Nigerians will prefer to go to hell if their leaders are in heaven.

Ben Bruce tweeted

“With the way we in govt treat Nigerians, I sometimes suspect that our people will prefer to go to hell if our leaders are found in heaven”

Senator Bruce further advised Nigerians not to be afraid of the government but rather the government should fear Nigerians should they wake up to power.

“Nigerians shouldn’t be afraid of their government. If Nigerians wake up to the power they have its the government that will be afraid of us”

Sen. Bruce speaking on 2017 budget said the ₦250 million budget for vice presidents gate house could pay the salaries of 27,800 Nigerians with a minimum wage of ₦18,000.

The common sense senator further asked what happened to the catering equipments bought last year noting that the Budget for catering equipments in Aso Rock could pay the minimum wage of 10,000 Nigerians


The budget for catering equipment for Aso Rock can pay minimum wage for 10,000 Nigerians. What happened to equipment budgeted for last year?

http://nghubs.com/nigerians-will-prefer-to-go-to-hell-if-our-leaders-are-found-in-heaven-ben-bruce/

emmabest2000:
Congrats to Cameroonians ...

LatestAmebo:
Lagos State commissioner of police, Fatai Owoseni who had earlier vowed to stop the nationwide protests, was spotted among the protesters in Lagos as they walked to the National Theater.

Photos of him at the protest below

[img]https://2.bp..com/-sFAhDGTv53c/WJhShGAkqcI/AAAAAAADbSM/FTFqS04ab90aSsZcovCbHacCqDLKzGPfgCLcB/s1600/jk.jpg[/img]

[img]https://1.bp..com/-DZKPyoMgvUU/WJhSR2osXVI/AAAAAAADbSI/-i8yKsVbt3o3WhezMRY-KsaCg0z3-K0qACLcB/s1600/h.jpeg[/img]

Source: http://www.latestamebonaija.com/2017/02/lagos-state-commissioner-of-police.html

lalasticlala mynd44

sugarbelly4:
Blackface has insisted that people should not go out to protest in this sensitive time, for it is useless and baseless to do so.. See his tweet below

https://twitter.com/Blackfacenaija/status/826490053404786689

[img]http://1.bp..com/-UGPeDGOIzH4/WJGGyxrL5mI/AAAAAAALiyY/vkZi3a-KKd8D38Ay-o7o-cdQnGLiR9u0ACLcB/s400/2c.jpeg[/img]

Source: http://www.latestamebonaija.com/2017/02/blackface-has-insisted-that-people.html

Brown14:
Y all dese people go dey wear dark shades inside club


@the last pic;Annie be like say she dey laugh turn look 2baba side come see say baba dey carry one babe enta bathroom na im the laugh seize

eleojo23:
The hustle for N25million.

Anything for the money.

ddippset:
Its a lie, its a lie. This is an old picture. Any picture taken with Aisha was taken a long time ago ever since he put her in the kitchen and other room. And why is he smiling like that? It shows this was taken a long time ago when the economy was good. Why is the background white? The White background shows he has already died and is now in the land beyond. Another APC lie bursted!

Ijaya123:
You mean APC awarded him those contracts he didn't execute?

Nnamdisblog:
Anambra born Billionaire Businessman, Sir Emeka Offor has joined the ruling part, the All Progressive Congress (APC) from PDP.

Sir Emeka Offor was one of the strongmen of PDP in Anambra State before his defection.

Sir Emeka Offor is an oil magnate and government contractor.

http://www.naijahelm.com/2017/01/breaking-billionaire-businessman-sir.html?m=1

https://m.facebook.com/story.php?story_fbid=1548530575175727&id=100000563983468

kettykings:
http://punchng.com/apostle-suleman-appear-dss-30-lawyers/