₦airaland Forum

This is unacceptable

chikkaobi:
Weew... Then stanbic has given me wrong info if this is the case.
Because I was wondering why anyone will wanna go for 1yr when 91days ROI is almost same with it.

Thanks a lot for the clarification.
Waiting for a whole year for a 14% ROI on 1m?

Mehn, I think I'll just have to "Take a bow and Go trade Forex"

There is a fairly accurate excel calculator for returns from Tbills at the bottom of this page:

http://www.iwilltalk.com/investing-in-treasury-bills-in-nigeria/

These dolts fail to realize that the 2.35% is largely made up of the last two months of GEJ admin

Anthony Ogbo should stop carrying fake news... Igbo man forming International Guardian

Without doubt, there will be no negotiations.

PassingShot:
There is no gainsaying the fact that I am an ardent believer and supporter of the president. I am still proud in the little ways I contributed to his victory at the last presidential poll. Not only that I campaigned for his emergence online and offline, I also contributed financially to the course.

As I have said on many occasions in the past, it will be silly for me to want to stick out my neck to defend politicians when they’re clearly in the wrong and especially when I am not in any way related to any of them. PMB has clearly erred in this prolonged delay to name his cabinet! I once did a thread to support him when he was criticized just after twelve days in office https://www.nairaland.com/2371788/efforts-signs-president-buhari-twelve but I have no genuine reasons to continue to hold on to that position after another three weeks.

At first, I accepted that GEJ’s deliberate delay in handing over of hand-over notes of MDAs to the president was responsible for the delay in appointing his ministers BUT can the same excuse/reason still be valid for the continued stalling of this very important action more than a month after receiving the documents?

I also accepted that not knowing who the NASS leaders were going to be was partly responsible for not naming a COS and SGF but again, it’s already more than three weeks since we’ve known our Senate President and HOR Speaker! Besides, appointment of these two very important personnel (SGF & COS) have NOTHING to do with the purported “merging of some MDAs” the president is believed to be working on.

Not having a COS and an SGF must surely be impacting negatively on governance. Not acting very fast and decisively to name key advisers and some ministers (Finance, Works, Power/Energy, etc.) is surely making the president look confused and indecisive! It is irritating and even frustrating to read that we may not have ministers until late August or early September. Though I don’t want to believe this news but if it is what PMB is planning, it is in his interest to drop toying with that idea. Such action/plan is not only naïve, clueless and irritating but also very dangerous and unexplainable!

Does the president not need some of these ministers and other political appointees to drive through his policies? Or does he think he and a few clique of Fashola, Ogbonnaya Onu, Amaechi, etc (in unofficial capacities at that) can resolve all the myriad challenges in all ministries? Can the Permanent Secretaries breathe the type of fresh life needed in their ministry to it? Nigeria deserves far better than this from PMB/APC and their team.

Make no mistakes about it, sending GEJ and his team packing and the enthronement of Muhammadu Buhari as our president was the best decision Nigerians took in the last general election. But having said this, I have to add that the president has somewhat failed in the areas mentioned. PMB needs to make us continue to believe in him as the leader Nigeria needs at this critical time of our nation’s life.

@ PMB #NameYourCabinetNow

I share your disappointment as to the delay in naming his cabinet members. However, I'm not so surprised. In 1983/1984, he named his cabinet after about 6 months and yet he made an impact in his 20 months administration. Change will occur but he should step on the gas pedal. We are losing patience

barcanista:
Did you see any PTF audited report?

I will show you the audited PTF report when you show me First Bank audited report for 1998.

barcanista:
Do you know the meaning of "Conduit pipe to siphon fund"?
He Married Aisha in 1989, 4 years after he was kicked out of office and 10years after his tenure as Petroleum Minister. So how could he have given Aisha oil bloc when he never met her as at then? Meanwhilen, he has an allegation of fraud as at that time.

The position of PTF Chairman is NOT Petroleum Minister. PTF like SURE-P was an intervention fund, but unlike SURE-P it reported to no one but the corrupt Sani Abacha

Ohh, so now KPMG did not audit PTF accounts yearly? Can that be said of Sure-P?

This does not count for shit!

A LinkedIn profile can be created by anyone. It doesn't mean it's true or not.

DerideGull:
Is she a low baller?

That's not the point!

While its $129 here

It cost $223 here

Did she buy the 34,500 or the 230? They both look the same to me.

This is a bullshit move.

Didn't know First Ladies have official portraits too. Mschewwwww

kernel504:
Why do we bring in sentiment in almost everything regarding decision making in Nigeria.
If you've read this article probably, you "may'' have had a reason to rethick. Why taking non-cobatant operatives to war zone, what if they are attacked?

Civilians living in that place are zombies abi or combatants? Siting the command centre in Maiduguri is a tactical move and it would help end this war early enough.

What is a command centre? Wikipedia defines it as (often called a war room) any place that is used to provide centralized command for some purpose. Moving the command centre to Maiduguri doesn't mean the army HQ has moved. It only means that the war efforts will be coordinated from Maiduguri and not from Abuja.

Why are they so eager to see him fail? I'm glad he keeps disappointing them

shachris02:
It is pertinent to note that prior to securing the debt write-off, Nigeria was groaning under the burden of one billion dollars per-annum debt servicing portfolio, where this amount is spent servicing debts without the principal being touched.

This part got me. We currently spend almost a trillion naira servicing debt under her watch. What difference did she make.

Are you ready to acknowledge there is a problem or Jonathan remains the best thing since sliced bread to you.

denko:
He should not tell us what we know , (according to APC), he should focus his energy on resolving the issues & if he find the problems bigger than him then he should be honorable to resign his position PERIOD.

barcanista:
@Sanusi Lamido Sanusi: You weren't suspended because you raised any alarm, rather you were suspended because you were indicted by the Financial Reporting Council of Nigeria for fraud running into hundred of billions, rascality and gross misconduct as CBN boss. Instead of you to prove your innocence in court, you ran to court along with Yemi Osinbajo to secure order against further investigation, probe and prosecution. You can hide under the law to evade Justice, but you can't run from the fact on ground. Posterity shall deal ruthlessly with you...

Indicted by the FRCN? You keep making this foolish comment!

Nigeria cannot be blackmailed by some militants. Despite the contract, pipelines are still being vandalised at an alarming rate and crude oil theft is going unabated. Arms are still prevalent in the Niger Delta amongst both the ex-militants and political thugs. Is the amnesty to prevent them from using the arms or ensuring they are disarmed? Enough of dealing with issues at the branches, it's time to go to the root. Buhari should terminate the contract and cancel the amnesty. The funds used to pay militants blackmailing the nation should go to the poeple of Niger Delta.

brainpulse:
God bless you for the master piece. They go around making rubbish threads like jobless kids, forgetting that with the allocation, derivation and NDDC their leaders have nothing to show.

It sickens me to my guts when they keep playing the victim. What has NDDC achieved with its billions? Check a lot of projects executed by NDDC and you will see mediocrity. Even if they have 100% control of their resources, the end game is a few billionaires which they will worship and act as thugs for! Asari is made now. Tompolo is made now. They keep talking about being shortchanged but a few protection dollars will buy them. This is the story of the modern day struggle - pay the leaders protection money and they shut it for a new set to arise demanding their own protection.

EnergyWA:
If power improves significantly, there will be a ripple effect felt through out the economy, nore jobs and better standard of living. The regulator can ensure that the pains are not felt as the power rises, so an increase can be phased.

Investors are moved mainly by the prospect of profit, nothing else. The market must be made attractive for them.

Exactly... There would be ripple effect which means guaranteed profits as demand will rise both by individuals and by industries. The profit is certain. It's just the timing. Nigerians want their profits by the next financial year after making the investment. Electricity is not that kind of investment. You may not turn a profit until 3 years.
However, if that's what's needed to get me 24hrs of electricity, then raise the prices. I've not seen an electricity price increase strike before.

The problem is actually multifaceted. Price increases is just one of it.

EnergyWA:
If you create a free market for gas production, which i think is needed to improve gas efficiency then generators will incur more cost as gas prices are likely to increase which will translate to tariff rise.

If your involve Transcos, access charge to lines will probably increase, that will be passed to consumers.

That is why regulation is required to keep changes moderate.

Creating a free market now will only result in further impoverishment of Nigerians. The income of an average nigerian cannot meet the demands of a free market. You need to grow production capacity by making investments. This growth will then translate to a rise in income. As income rises, the market can then be liberalized gradually which will somehow maintain the status quo (the rise in income won't make us richer, neither will the rise in prices make us poorer).

In my own opinion, the investment should come first and then prices can rise. Regulation should be tight as we go through these transitions. The challenge as you have put it though is government doesn't want to subsidize and private companies don't want to invest until they have a price guarantee. My advice is the private companies should step aside for other companies willing to take the risk. Dangote is investing in a refinery today, yet the downstream sector is corruption riddled and market is heavily subsidized. However, without doubt, he would turn a profit when it comes on stream because the demand is there. The market will one way or the other adjust to meet his price.

This opinion doesn't take into account the man made sabotage caused by vandalism. The solution to this is political and I hope the change we've ushered in will drive this.

People that cannot bring their rulers to account for their misdeeds are making noise that they want to control their resources. What have your state governors done apart from mindless looting for the past 16 years? What did you do about it? Ibori rules for 8 years. Uduaghan ruled for 8 years. Theodore Oji ruled for 8 years and is now a senator elect. Elechi ruled for 8 years. Are you that stupid that you are so comfortable with mediocre? You are screaming for a referendum but you have the like of Alams wanting to contest for a senate seat. Jonathan was president for 5 years but his greatest achievement was dividing us further along religious and ethnic lines. The problem isn't the North or SW not he problem is you. If you go your own way which I really don't give a damn if you do, you will still have you to contend with.

EnergyWA:
Currently the tariffs are lower than cost even with epileptic power. For power to improve significantly, tariffs will have to rise. But i agree that most people will not accept it unless they see visible improvement in power.

No... For power to improve significantly, the players will need to invest significantly and then can raise tariffs. Every business is a risk. They should stop looking for risk free business. The demand is certain, it's the supply that's not certain. The demand is technically inelastic. They should just make the damned investment.

deletrue:
Look at them. They are talking of gas, this and that but did not bother where the gas is gotton from. All they will say is we are one country besides, they form minority. There is nothing they can do even if we take every thing from them. Idiots, you people cannot continue to take away the gas and oil and jubilate. The time is near when it will stop. By then we would have gone our ways

The gas is gotten from the earth. It's not your father or your father's father that put it there. So stfu

EnergyWA:
As things stand, tariffs are not enough to cover the cost of running Discos and Gencos. That is why the government gave a loan over ten years at 10% interest rate to stabilise the market.

For tariffs to rise, they need to show that we can have 24 hours electricity supply and we subsequently apply our savings from not purchasing fuel to paying electricity bills. What we have now is people looking for risk free business models. They want to supply 2 hours of light daily and expect the customers to pay enough for that 2hrs to cover their staff costs and turn them a profit. Give me 24hours electricity supply and I won't mind doubling my current electricity bill. But don't double the bill and give me 2hours.

It's d same scenario we are having with the oil marketers. They are bearing zero risks. Government pays exchange rate differentials, they pay bank interests on loans collected by the marketers and the marketers keep all the profit.

BlackTechnology:
Gbawe Superstar Aresa etc


Didn't I tell you guys that


No GEJ No Oil No Nigeria





Buhari


On True Federalism we stand



Cc Barcanista temitemi1 phockphockman ichidodo etc atlwireles etc

I thought you dolts said it was APC vandalizing the pipelines

barcanista:
Let me tell you, every Supervisory Agncy have right to investigate those under them. In fact, the Kangaroo judge never said FRC lack the power to investigate. Even Sanusi responded to FRC's petition before his indictment. Investigation/probe and Prosecution are Two different things.

After investigation comes prosecution. Only the EFCC,ICPC and Police are empowere for that but Emir "thief" Sanusi had to stop this.

A Federal High Court in Lagos has restrained the Nigeria Police and the Department of State Services from arresting or harrassing the suspended Governor of the Central Bank of Nigeria, Sanusi Lamido.
The court also ordered the DSS to release Mr. Sanusi’s passport to him immediately while also awarding the embattled CBN boss N50 million in exemplary damages.
Mr. Sanusi’s passport was seized on February 20, as he arrived the Lagos international airport, hours after he was suspended as CBN Governor by President Goodluck Jonathan.
He was briefly detained as well.
Mr. Sanusi, in separate suits, had challenged his suspension, and asked for enforcement of his fundamental rights as enshrined in the Nigerian constitution.
The court, on February 21, granted an interim order, restraining the respondents from arresting, detaining, or harassing the applicant pending the determination of the substantive suit.
The interim order was sequel to an affidavit of urgency filed by the applicant on the same date.
On Monday, the court adjourned to April 3 ruling on the preliminary objection raised against the restraining order by the SSS and the police.
The court has now ruled, saying the government and its agencies have no basis to arrest or harass Mr. Sanusi.
The court also frowned at the seizure of the CBN Governor’s travelling documents.
During the hearing of the rights’ suit, on Monday, the respondents – the Attorney General of the Federation, AGF; the Police; and the SSS – made different claims.
The agency SSS said it was investigating Mr. Sanusi for allegedly financing terrorism.
The SSS’ counsel, Moses Idakwo, said Mr. Sanusi’s interaction with SSS officials did not last for up to an hour and did not constitute a violation of his rights.
He said the provisions of Section 6 of the National Security Agencies’ Act empowered the Service to impound the international passport of suspects pending the conclusion of investigations.
On Monday, however, Mr. Sanusi’s counsel, Kola Awodehin, accused the SSS of falsehood in its new claim against the bank chief, saying the agency had no shred of evidence.
The counsel to the AGF, Fabian Ajogwu, had objected to the suit, urging the court to strike it out for want of jurisdiction.
Mr. Ajogwu argued that the provisions of Section 254 (c) 1 (d) of the 1999 Constitution (as amended) ousted the court’s jurisdiction to entertain the suit.
He noted that the case before the court borders on the applicant’s employment, saying that labour -related cases are within the exclusive jurisdiction of the National Industrial Court, NIC.
“Section 254 (c) 1 (d) of the Constitution vests exclusive jurisdiction on the National Industrial Court, with respect to civil causes or matters touching on employment, labour or industrial relations.
“We respectfully urge the court to hold that it has no jurisdiction to entertain the reliefs sought by the applicant,” he said.
The counsel urged the court to strike out the suit.
Mr. Ajogwu also argued that the applicant should not, by the suit, seek to restrain the respondents from performing their constitutional duties.
He argued that Mr. Sanusi was being investigated based on the FRCN’s claims. He said the suspended bank chief was being investigated in accordance with the provisions of the law, which the respondents had a statutory duty to perform.
Citing the dictum of retired Justice Niki Tobi of the Supreme Court in the case of Adeniran vs Alao, Mr. Ajogwu submitted that a perpetual injunction would be everlasting and could not be granted by
a court of law.
“The applicant’s suit is basically an action to shield him from the machinery of administration of justice, which has been kick-started by the respondents,” Mr. Ajogwu submitted.
While the AGF said Mr. Sanusi was being investigated based on the FRCN investigations, the police said it was not investigating the CBN boss.
The counsel to the police, David Abuo, said nobody ever reported Mr. Sanusi to the police.
He, however aligned with Mr. Ajogwu, saying the case should be struck out as it seeks to bar government agencies from performing their duties.
However, responding to the respondents’ preliminary objection, counsel to Mr. Sanusi, Mr. Awodehin submitted that the court was vested with the jurisdiction to entertain the suit.
He argued that the suit had nothing to do with the terms of employment of the applicant or industrial relations, since it was not a case of the applicant against the Central Bank of Nigeria.
He argued that the applicant never sought an order of perpetual injunction, adding that the reliefs he sought were qualified.
“It cannot be suggested that the applicant is restraining the respondents from performing their duties, but they must be restrained from doing so without due process of the law.
“The seizure of the applicant’s international passport by the third respondent is a derogation of his freedom of movement,” he said.
Mr. Awodehin also argued that the different submissions by the three respondents showed that laws were being violated in Mr. Sanusi’s treatment.
“The first to third respondents give conflicting reasons as to the complaint made against the applicant.
“This conflict goes to show that they acted without due process of the law,” he said.
The counsel also argued that the SSS’ claim of financing terrorism was bogus.
“The allegation against the applicant as to funding of terrorism is an afterthought by the respondents which is not backed by facts, as there is no reasonable suspicion that the applicant committed any crime,” he said.
He urged the court to dismiss the preliminary objection and uphold the case of the applicant.

This is what happened in the courts! Use your brains