₦airaland Forum

Hehe...omo that last guy no get joy o...

"If you no no I be taliban, I be gangster" if I don dey on my CODEINE & REFNOL 542....my woman go dey kpro, dey kpro, dey kpro *u no understand* me I go dey mekwe....hehe. REFNOL + CODEINE, omo some guys no get joy o, see combo!

wristbangle:
Actually Mr "know it all", your comment lacks common sense and it will be better if you take kindergarten lesson before its too late for you.

Also if I am correct, you and cohorts always attack tosyne2much whenever he drops article that pitch your veins.

It even seems from your comment, you are more frustrated than a hopeless man.

You see....exactly what I'm saying. This is how you go about generalizing and then compiling it into a list of dos and donts. You just concluded I attack tosyne2much with no proof. I'm frustrated @ your writeups!
How would a sane man, have all these qualities in a woman he has regarded as his fiancee? Before a man has placed a woman for possible marriage rites, over 90% of what you wrote there would be non-existent. Come up with something meaningful that people could relate with, and you'll be applauded. Even the likes you'v gathered speaks volumes. It shows it lacks substance, those characteristics you wrote there are behaviours peculiar to mere boyfriend/girlfriend ish........don't be jealous/mad. I prefer tosyne2much writeups to urs. His is much more reasonable and can easily relate to than urs.

I swear wristbangle please stop composing all these your lists of this& that, most of the time, they are wacked!!! Leave the list for tosyne2much, you can always support him with your comment. His observations are way better
Just negodu! I'm sure you compiled this list because of one cheating wife in your neighbourhood. List so wacko!!!

Its very easy for people to say spank the child until her brain returns to default setting but I tell you. Continuous act of flogging will lead to a time when there will be emotional disconnect between you & that child in future. The child may grow up to always avoid your presence because he/she has grown to have the mentality - not to annoy you coz of the wrath he/she could incur.
I was a victim, so I know better!!! #no be everytime flog, spoken words are very powerful. It can break or mend a man's spirit ,not even rod can do that. A wise man once said "people often say that MOTIVATION DOESN'T LAST, well NEITHER DOES BATHING, that is why its RECOMMENDED DAILY"

When people who buy "used items" want to argue...their argument is always the same regardless of the product they are defending.
YOu'll often hear them say; Its better to buy a 1st-grade toks than a China New product .

The koko be say; who is saying you should get a china new tyre? What stops you from getting a new tyre from a reputable company(pirelli,dunlop,firestone,etc)? The answer is Finance! Simple and short!!
Moreover, I have seen families drive with new china tyres from lagos-onitsha and back and the tyre hasn't gone burst. Comparing a used item to a new item is crazy....This is why Nigeria is often referred to as a dumping ground for westerners..

damseyl:
When this lady go marry sef

Marry do wetin again? She already has a child, abi is that not the key reason people insist on marriage? So you can be called a father/mother and seen as responsible. Genny is a mother, a happy and successful woman....
When people suggest marriage, what they mean is
- he/she needs to have s*e*x(legally)
- he/she needs to have children
Notin else!!! I repeat Notin else is in their thought if not those!!!

samuelzion:


Government thats asking landowners like us to pay for our properties, did they provide us with even one free bag of cement to build the house?

Negodi.....

Oga no be you own the land o, u re just a tenant....according to the land use act of 1978, you are to occupy the land for a period of 99years. So techncially by 2077, the first c/o would expire and need possible renewal.... That's why C of O is called CERTIFICATE OF OCCUPANCY and not CERTIFICATE OF OWNERSHIP....na occupy we just dey occupy!!!

gbadexy:
The fact that these ones declared their true profit is even good.
Many banks give the impression that all is well even when they are operating at a loss.

That's very true my man. Mr doyin salami, a member of the CBN monetary policy commitee says that some banks were cooking reports. And posting figures that were untrue. For this sort of comment to come from a key figure in our economic team ,hmmm means we gats be watchful. Here's the link: www.nairametrics.com/nigerian-banks-may-be-hiding-npls-as-3-exceed-10-percent-threshold-doyin-salami/

carpenter:
For those who have been looking for an investment in dollars http://www.fbnquest.com/docs/default-source/FUND-FACT-SHEET/february-2016-factsheet/fbn-nigeria-eurobond-(usd)-factsheet---february-2016.pdf?sfvrsn=2

This is particular great for those who make money in USD and keep them in the bank for nothing other than safe keeping.

You are doing a great job here explaining the fbn quest thing. I'v got a question to ask tho, supposing I Invest in FBN money market fund and the minimum holding period is 30days & comments have said they pay interest quartely. If I held my Investment for 4months before pulling out, how wiill I be paid?
Will I be paid interest for the first 3months, then made to wait another 3mnths for the accrued remaining interest. And does this Involve my principal too,when pulling out my funds. Lastly what are the charges from fbn mmf , if I decide to pull out my funds before the minimum holding period? Waiting for a quick reply coz the potential sum to be invested is HUGE! I no want any "risk"

So adanma indimi, daughter of a billionaire sabi wash cloth? Amazing,lol.

KingAdeOluomo1:
why am I not seeing First Bank eeeh

My man, even me gan dey look firstbank with one eye, according to reports on ground. Situation isn't good. Look @ d pic below......

What about First bank,? Hmmm, First bank is one bank I'm skeptic abut. They may join in these banks in recording huge profit decline. No bank is exposed to the oil & gas sector like they, also no bank has a higher Non performing loan than first bank. If you are a first bank customer, be very attentive to the news that would emanate soon.......coz I smell bad ass profit Decline for First bank!

diegwu01:
We are a growing country, we cant stand alone at the moment, Our minds are too dark and filled with hate.

Since 50years we have been growing. Its like having a 50year old in your house and telling people around, he/she is still a growing child. Its nt like we are to Invent anything. Just adopt, operate and maintain projects & infrastructure. We'v been trying to do that in 50yrs of independence. Forget it my man, we need massive western influence before we can make it from point a to point b.

Pidggin:
Yippee!!! We get to import more and more Chinese fake products into our country, and what will they do with the swapped Naira? Buy Nigerian products? Do you buy Nigerian products yourselves? what do we export into the Chinese market and what is the volume of our export compared to what we import from them?

Never take the Chinese for fools, they are swapping with our dollars not Naira, please stop spreading false information to gullible Nigerians

Very true, links are littered online that says a portiion of our dollar reserve is converted to yuan. I dnt think naira is the currency converted.

Now I understand what a pastor on youtube was saying.....There's nothing a black man can do without the white peoples help. Like Donald Trump suggested "AFRICA NEEDS TO BE RECOLONIZED" after reading this article, I understoood better. If not for the white peoples influx in south africa, I doubt if they would have achieved much.
China UK USA and all them top county should come down to 9ja and take over! I don't care anymore, after over 50yrs of independence, black man still isn't making progress. Making power generation be like rocket science, tufiakwa!

Did I just read that the buying of cars is for CAPITAL PROJECT? How can buying of cars be a capital project? I'm not suprised @ their extravagant lifestyle afterall their budget is higher than the budget of 21 Nigerian states. God go help us!

lashout1:
Yes you are good on its influence on money market. But I thought the best government policy is evaluated with that which makes more citizens better off and less worse off. How many person are in with the money market, if not the same microscopic few.

They shld have considered the effect of interest rate on capital market mainly and fairly on commodity.

You are right bro. Its tough to favour both sides with high/low interest rate knowing fullywell that inflation is rising. It must be tough for the economic team. The interest rate was reduced, MPR reduced so banks would stimulate the economy by giving out loans. But it didn't work, rather our GDP sinked lower to about 2.8% in the lastquarter of 2015....while the growth of the nation was falling, our Inflation rate rose higher from 11-12%. So u see, cbn has tried that measure. Foreign Investors are taking out funds more than they are bringing in. Because the low rates wasn't favourable.
Many people even on NL described how inflation was a result of the forex scarcity and not too much liquidity, wht did the govt do? They just signed a deal with china so as to reduce the pressure on dollar which is the major curency in our reserves , thus indirectly impacting on the inflation rate & reducing the forex rates.
Also, they try to suck out the excess liquidity in the system same time attract local and foreign investors (FPI) back with the propsed high interest rate. Overall, it seems to be a win-win situation #but these are all speculations, reality would soon tell us if the speculations are right or wrong.

LastMumu:
Well you are right to a certain extent, Yes the bank makes crazy earnings from the huge rate they charge customers in comparison to what they pay investors, but the truth is that most of those are actually non-performing, especially now when the economy is in a pretty bad shape.

Also, almost all banks have foreign loads they are servicing, this has left them open to huge foreign exchange loss since they need to source for dollars to servicd the loans. Things ain't as easy or smooth as they seem.

True yarns. That's why cbn as the regulator has set a standard for them to operate. By giving banks a limit of 5%. And some banks give out "friendly loans" without collecting collateral. The case can be seen with firstbank, where it has been reported by sahara reprorters that 2 prominent men owe them the sum of 120billion naira "without collateral". And both men operate in the Oil sector, with the fall in Oil price, its been having a toll on firstbank. From the comments alone on NL, you would see how people are groaning of the "crazy charges" from FBN.
Feb 25,2016
FBNH GTB Zenith UBA ACCESS
Exposure. 47% 33% 22% 21% 25%
To oil & gas

NPL ratio. 4.8% 3.1% 1.6% 2.1% 4.6%
(Liimit of 5.0)

BOFIA - banks and otheer financial institution act says its criminal for banks to issue loans without collateral.

All the same, that's the problem of the bank. If they were to follow the standards of operating loans set by CBN and also give out loans to individuals in other sector other than Oil. Having a high NPL wouldn't be much of an issue.

LastMumu:
Well you are right to a certain extent, Yes the bank makes crazy earnings from the huge rate they charge customers in comparison to what they pay investors, but the truth is that most of those are actually non-performing, especially now when the economy is in a pretty bad shape.

Also, almost all banks have foreign loads they are servicing, this has left them open to huge foreign exchange loss since they need to source for dollars to servicd the loans. Things ain't as easy or smooth as they seem.

True yarns. That's why cbn as the regulator has set a standard for them to operate. By giving banks a limit of 5% for Non performing loans (NPL). And some banks give out "friendly loans" without collecting collateral. The case can be seen with firstbank, where it has been reported by sahara reprorters that 2 prominent men owe them the sum of 120billion naira "without collateral". And both men operate in the Oil sector, with the fall in Oil price, its been having a toll on firstbank. From the comments alone on NL, you would see how people are groaning of the "crazy charges" from FBN.
Feb 25,2016
FBNH GTB Zenith UBA ACCESS
Exposure. 47% 33% 22% 21% 25%
To oil & gas

NPL ratio. 4.8% 3.1% 1.6% 2.1% 4.6%
(Liimit of 5.0)

BOFIA - banks and otheer financial institution act says its criminal for banks to issue loans without collateral.

All the same, that's the problem of the bank. If they were to follow the standards of operating loans set by CBN and also give out loans to individuals in other sector other than Oil. Having a high NPL wouldn't be much of an issue.

Catholic priest Fr Mbaka says Buhari is the man for Nigerians, another Christian leader primate ayodele says otherwise. And both leaders are supposed to be Gods messenger.
God is not an author of confusion oo.

lashout1:
It's time we look inward and see how pple response to the market in Nigeria and forget what text books and scholars derived based on the local response from their consumers. That interest rate shouldn't be below inflation I see as a local derivative and should vary with region.

In a country like Nigeria, we don't care about the returns for our money in banks, even if interest rate is 100% bank deductions will still b more than the interest.

My understanding in macro econs, indicators like saving, consumption, tax and investment are key in monetary policies. While CBN is trying to discourage consumption, from our local stand, increase in interest rate will locally discourage investment but by text book encourage savings (which is not attainable based on explanation above) this is because at 12% banks will demand you bring your grandma to secure a loan application yet frustrate one with hidden and administrative charges. Further increase will halt the spirit to borrow (for investment) that is dieing in us.
I expected the CBN to cushion loan application requirements and availability to common man and not to the elites or microscopic few. because an increase in investment increases employment, disposable income and inturn encourage savings.

My take.

It doesn't really affect investors in the money market, but to investors in other sector where loans will be needed to kickstart such investment (eg real estate), it would affect. This news is good for those investors playing in the money market. Coz it means higher interest rate resulting to a higher yield/profit.
Inflation cannot be @ 12% whereas my money in fixed deposit/Treasury bills is growing @ 7%. It implies I'm losing 5% . To move along with inflation & to maintain my purchasing power. My interest rate (r.o.I) has got to be equal or overtake the Inflation rate.

LastMumu:
Shut up, CBN increased MPR rate from 11% to 12% around January this year or so, how many banks passed the increased rates to their customers? If banks decide not to increase their interest rate even though they are now lending at a higher rate from CBN, what effect would this have on their books? It will eat up their profit, ode.

No I don't agree with you. Banks will collect millions from their customers through fixed deposits @ meagre 3-6% and lend the money back to individuals @ 25% , that's a massive GAIN for the bank!!! How does that eat up the profit? Even when the MPR is 12% and rising. The rate at which they borrow from individuals or fellow bank is still very low compared t the rate at which they lend making the profit margin huge.

1wolex85:
when I bid, I always like to get it and I have always done by bidding just below the last stop rate.

I would be correct to say you always play safe & it has worked in your favour. ITs good to stick to what works for you bro!

1wolex85:
play safe o! I just put in a bid this morning for 182. I did 7.8 since the last bid was 8.6.

You did what? You bidded 7.8 when the last bid was 8.6, that's a difference of 0.8%. How would you expect t.bills to fall by 0.8%? Especially now that Govt need money to fund budget.....I follow Firstbank investment arm, and here is a screen shot of what I read on their report/outlook for t.bills, so u know; u went too low #ex

Ask resident of festac town and u'll hear similar story. Brothels, hoes springing up in my hood.

RALPHOW:
Very possible, if Seun or Linda Ikeji were civil servants they don't need to resign .
An IT Director in the ministry may be a blogger and be making cool millions. Also many civil servants works in grade A ministries are millionaires , don't be deceived by the word SERVANT entry level ie fresh graduate in CBN and other grade A ministries is above N600,000.00 per month. Many Senior staff received N1.5 Million (allowances inclusive)

See as you quote 600,000 and 1.5million per mont like say that's a fast and sure way to being a billionaire.

See even if you make 2million a month,
A year ; 12*2million= 24million/year
Say You work for 30yearrs.
24million x 30yrs = 720million in 30yrs!!!
Nigga you stilll wouldn't make 1billion naira.

Remember this doesn't include your expenses and liabilities
Remember also, this means you will extra 30yrs once you start making 2m a month

Some business men I know in my fam, make over 500,000naira monthly and till today they re not billionaires despite being in the business for over 20yrs
#baba to be billionaire no be beans ooo

pipz:
Results are out now. guess the auction was yesterday.

Results of Auction below:

91days - 6.1000%
182days - 8.6900%
364days - 9.4880%

This ratees you quoted cannot be found on the cbn website www.cenbank.org......where did you get these from

Like chaarles soludo said, even if the governors didn't want to save. We are forgetting that the majority of the governors under GEJ administration were under PDP. And the Head of state from PDP......so how come majority of Govenors from the same party as GEJ refuse to save No one is asking, why they would refuse to backup their "main-man" on such key policy?.....
Simply put, Lack of Leadership & Integrity is the answer!!!

Can the FG even arrest fayose even if they wanted to? I thought Governors have a restraining order once they assume office.

One thing I know is, even economist don't sing the same tune when a music is played.....In a stock market even, stock brokers can only speculate but cannot be 100% certain. The oil energy experts didn't expect a fall of oil price down to $35/barrel jan lastyear......that's how economic news is. Its a master dribbler subject to change.
We can only but speculate but can never be sure.... Likewise is this news, some have speculated its a positive move while the others are pessimistic....at the end, we will see how the theory work will translate in our day-day activities (pratical work).

jpphilips:
I doubt if you know why your government restricted forex in the first place.
Most of you spend more time criticizing what you dont understand than learning.

It seems you know get the drift. Forex controls was imposed coz of the high demand & low supply. If majority of the goods are from china here in 9ja, it means we will potentially have a high demand for the yuan. Now how much is in the reserves to feed our appetite? I believe not so much. So what happens? Forex control applies, to allocate the scarce currency. Or do you suggest that Importers and other individuals will get the yuan as easy as they want and at the Official price? If yes, wake up!