₦airaland Forum

janykute:
Naira equivalent please?

200k ghana cedis is between 10-12million naira.

FirstCounsel:
Quite a lot u got up there. The Surulere properties: Ijesha & Lawanson, what are the land sizes? This woul determine my Clients interest. Same 4 the 6th Ave, Festac. Thanks

If you are ready to battle swampy land, then 6th ave festac is no problem coz they are heavily swampy!

FxDuke:
bro na the hand o...na earlyman hand be that o. not your average hand.

I dey tell you oo see the thighs sef, e thick like mike tyson own. Once them swing their hips and legs with a blow towards ur direction. Na die be that

It sseems most of y'all didn't see the stunning thing about his profile. It says;
15 K.O's from 15 fights.......not just 15 wins oh!!! It says 15 KNOCK-OUTS from 15 fights!!! Omo the guy is a HARD PUNCHER who doesn't take his oppoonent to the last round, that's what it means.

40manlappy:
@echelons

Thanks for your enlightening post.

A colleague asked me few days ago if a BDC would not be doing anything illegal if it sources for FX (both onshore and offshore) for sales to local reputable businesses (e.g. manufacturing firms etc) who are unable to get adequate FX through the CBN window for importation of raw materials and goods.

What do you think? I am not very conversant with this area.

Looping:Activa, ifyan, teemy, ceaser, xandy84, Kashif, Boss13, Chukzyfcb

Well I believe it will be Illegal to source for funds outside cbn. Because CBN regulates the BDCs and administer policies to them, so they are just a tool in the hands of CBN. Meanwhile if u remember after elections, CBN found out BDCs were sourcing funds from our fraudulent money launderers politicians, so what CBN did was to reduce its amount sold to BDCs weekly. So it can cut the wings of the BDCs but it had negative effect because dollar prices rose! U can think of BDCs as our OIL marketers and CBN as NNPC....well that's my opinion, hopefully another person will give his opinion too

Who is that niccur that says Nigeria should devalue her currency because china is doing it. Do you even know the meaning of devaluation? In simple terms, it means your naira is weaker against foreign currency. For an Import dependent nation like Nigeria, devaluation is bad for the populace because it means your money can no longerbuy more goods as it formely does in foreign countries. Devaluation may be good for china because they are export dependent. People can come with their dollars and buy more goods but not in Nigeria. Meanwhile Devaluation hurts Foreign Investors that have already Invested in the country. It only favours potential investors not the current investors in the country. Stop saying what you do not know!

Ballon d'or is a completely Individual award.
When Messi won it ahead of sneidjer, altho sneidjer had the treble. Messi blasted goals that broke gerd muller's record of 73calendar gols in a year
**************************************
In 2014 when ronaldo won it ahead of ribery, ribery had won The League & champions league and was seem favourite but ronaldo snatched it from him when he too blasted goals.
****************************************I'm a Barca fan, love to see messi win it. But I wouldn't be suprised if they gave it to ronaldo
****************************************
2015 STATISTCS
Ronaldo (Real Madrid and Portugal): 48 goals in
51 games (0.94 goals/game)
Messi (Barcelona and Argentina): 44 goals in 54
games (0.81 goals/game)
Neymar (Barcelona and Brazil): 42 goals in 54
games (0.78 goals/game)

obinnashady:
the only thing I like about Epl is their defenders...very good..if messi is so good he should go there and prove his mettle

Epl defenders soo good? I laff in spanish.all these epl fans think football is about being BULKY and having SPEED. Go and watch serie a and see how defense is done TACTICALLY. Epl has nothing to bring to the table other than advertisement! That's why till date even ENgland as a team is still average! Messi has been raping epl defenders in ucl for years now. Hazard is fucking up ur defenders, chamberlain dribbling them for fun even small boy Martial is poking them, its now Messi that can't beat an epl defender? Pls go to sleep, U knw notin about football!

TonyeBarcanista:
The government agency (NNPC) will also be importing the product and should the refinery be brought back to life, they will be forced to act sane.

NNPC has been importing product ever since we'v had fuel scarcity, it hasn't changed anything, it still doesn't drive away consumers from those oil marketers. If people were agitating for the removal of fuel subsidy currently, it means we expect EMOTIONS to take control over these greedy marketers; I.e we expect these marketers to be driven by emotions and induce competition amongst themselves. This is the expected happening , but its a gamble. Because, If they can deal with the emotions and agree as one under the Umbrella of their association(Moman or IPMAN) to sell at a Huge price. Then notin can be done, because the HIGH demand of fuel will always favour them xcept there could be a policy that will bring about "price-control" in our downstream sector. Until then, thinking about competition is just a mere possibility. #nice thread tho!

Tonye barcanista you'v spoken well but I'll like to speak on a possibility. The MAJOR oil marketers are the one holding us captive, these oil marketers have associations like MOMAN, IPMAN and some other associations. If they can all collectively agree to hoard petrol products, what makes u think they cannot all agree to sell at a very exhorbitant price when subsidy is removed. They can operate like OPEC, we think open market will tear them apart and influence prices but have we thought of the other side. As the major oil marketers and in an asociation, they can collectively agree to sell petrol at 150, don't you see this possibility? Using Opec as a refrence.

Lool, I just dey laugh una. How many of you here has seen a samsung s5 clone? Same shape, virtually same settings. If u are tech savvy, to identify a faake phone
- observe resolution
- observe weight of phone
- observe carefully the Graphical User Interface to see any strange happenings.
Finally, Phone cloners are getting smart by the day. Its becoming difficult to identify fake....Go to youtube.com & learn more. If u dey find wrong spelling or imei bla bla on a fake phone, in this present age then u must sleeping on the bench!

conyema12:
Bros youve forgotten one of the fundermental rule in Economics, thats is the law of elasticity of demand.
Are the CBN able to supply dollar to BDC operator to meet up with the high demand for this hard currency, the answer is a big No, their reason being that it depreciates the foreign reserve.

This is the major reason Forex was banned for some 41commodities.

Yes there is elasticity of demand in certain business situation but in this case BDCs cannot function without CBN. CBN is more of the parent while BDCs are the children. So they supervise their actions! Knowing that BDCs can abuse the priviledge, that 8% spread was given as "PRICE-CONTROL". Its just that the directive is just to weak to be Implemented. Commercial banks can easily meet the needs of the people who need dollar. And No, you don't need to dip your hand into our reserves to sell dollar, that's like defending the naira , you just let the market forces of demand & supply determine the price and circulation. The CBN are actually doing the BDCs a favour by granting them excess power & weak Implementation of the spread.

Didn't y'all see the 2015 budget in 2014, a budget that had to be taken to senate severally for review because of falling Oil price. Capital expenditure was reduced! Budget was already running in deficit? What were u expecting in 2015 budget? Magic? Some people here don't read, they just follow the bandwagon!
If as a Nigerian u still praise any of the past leader for their management of funds in dis country, u are silly! Let Buhari & his team pass his own budget and if he too doesn't show positive traits after a year. He'll join the list of "wolves" that have mismanaged our funds and will receive his own share of insults.

omooba969:
You have only reiterated my argument in another way i.e there is no regulatory body controlling their operations hence they can even sell dollar @#260 if buyer sentiment favours it.

Every businessman has the greed factor in them as it's up for grab by the highest bidder. It is black market!

In a nutshell, we both arrive @d same point.

K, good to see we are walking on the same path. If there could be ways CBN can cut the wings of these BDC's it'll be better.. But we find out that commercial banks are just as dubous as the BDCs....you do an Online shopping and the exchange rate of wHat you are charged will be very close to What u'll get in the parallel market, its crazy!

Proverbs 18:17 says; The first person to speak in court ALWAYS seems right UNTIL his opponent begins to question him...... for those that were quick to swallow d babes story hook line sinker, sitback & enjoy d show

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries. The problem is that there's no regulatory body controlling their operations, the reason they are referred to as 'black market'.

I would not want to argue that they are the major cause of depreciation of naira, they are only reacting to currency market sentiment.

Uhmm actually you are wrong! The CBN sells dollar to these bureau de change and give them instruction to sell @ 8% spread. Let's do the math: Let's do the maths
3.5% of 196.95 = 6.89
196.95+6.89= 203....which means;
Bureau de change are not supposed to be selling dollar more than 203 ,yet they keep selling to pple at a rate 240naira = $1 and above......I dunno if its in economics Textbooks but I do Know that GREED is one factor behind INFLATION,lol

Actually this is an expected news, if you are into importation business whether small medium or large scale. U'll know that between mid october- december the dollar starts rising.
The reason is because people start demanding dollar more during the festive seasons, both for business and those that go for shopping. Or those that want to travel for vacation.
The more the demand for dollar, the higher the value. The higher the exchange rate!
Its not a new thing in 9jeria for dollar to increase greatly by d festve seasons

To those that didn't watch the video, here are 3 powerful questions asked bout the Igbo elders
***************************************;
Q1: Someone asked; if I support the cause and donate arms & ammunitions and I step into nigeria knowing I'll be charged with treason what measures did you put in place to safeguard our lives

Ans: Nnamdi kalu: You can Never ever be arrested, No-one will arrest you lool
****************************************
Q2: Before any nation goes to fight or war there must be an International backing, what backing does biafra has

Ans: Nnamdi kalu: In terms of the world supporting us, it doesn't matter we are going to fight anywayz, lool
***************************************
Q3: Its not okay to keep talking about how the hausas or fulanis are killing the igbos. The thing is what are we doing for our children. Have we agitated in our states before going to the federal level
*video cuts*

If as a student, you were asked to draw a cup in class. And you drew what I'v in option "A". You'll most likely have 0/10 that's because examiners forget it depends @ the angle you look at the cup................................. Although school claim to expands ur horizons and visions yet they will put you in a box. See pics below for better understanding.

I'll choose the words of suli breaks whom I'v learnt from
**************************************.George bush says: "Education is about Inspiring ones mind and not just filling their head". Its not just regurgitating facts from a book or someones opinion to passing exams.
****************************************lets look at it; Picasso was EDUCATED in Creative art, Cornell sanders was EDUCATED in creating Kentucky fried chicken. Shakespear was educated in what that was written. David Beckham was EDUCATED in the art of taking Freekicks on the football pitch.
**************************************** Redefine how you view education , Understand its TRUE MEANING
#Proverbs 17:16: it does a fool no good to spend money on Education, why? Because he has no common sense.

I swear the way motorist speed on 3rd mainland bridge eh. Its like most of them use that road to test their limit , how many km/hr they can go. The Speed on that road ls fearful considering any mischap na inside water oo.

Very despicable act but one nairalander here has given us one helpful tip. As a bachelor living alone in an apartment, pls do not allow kids to come to your apartment to play. Always restrict them , rather give them money @ your door step to go and buy biscuits or sweet. Let the neighbours call u names for not being child friendly but lemme sound this note of warning, the day the mother of the child will find out her daughter has been raped or has been "seeing" someone. You, the accommodating & friendly guy will be the first name on peoples lips. And then Jungle justice will be immediately meted out on you. To be forewarned is to be fore armed.

See dem, see them! Forming animal rights activist. How many of you commenting are vegetarians?, most of Y'all eat pork,chicken,fish,cow,goat,bushrat etc. You no get human rights for country, You cannot stand up for the Unjust killing and arrest by our forces on individuals, you cannot stand up for the shady happenings in ur workplace. In a country where poverty level is bout 65% u dey ask them why them no go kill am chop? Abeg park one side! Even bible says: Genesis 1:30 "And to every wild animal, bird in
the air and creature crawling on the earth, in
which there is a living soul, I am giving as food
every kind of green plant."

I do tell people that most of these top brand names are ripping us badly. I'v handled a samsung s5 clone bought for 20k. Although its light in weight but it can handle all the tricks samsung advertises, from the hand wave view to eye stop....all those tricks were done on the clone bought for 20k. LG just proved me right, producing a $10 phone with the same specs u'll find on a tecno, or samsung or malata at 10,000. LG is selling for mere 2,000. Am sure most people use clones but they think its authentic samsung. Smh! Lool ripoffs!!!

Hmmm, its stories like this that make me say; I don't pray for a female child but male children. In our today society, Females are Very Vulnerable to attack. @op; I hope & pray the perpertrators of such act & brought to book soonest. To witness such is a big psychological damage to a family & her victim.

Hmmm, its stories like this that make me say; I don't pray for a female child but male children. In our today society, Females are Very Vulnerable to attack.

cecegorz:
It's a mixed bag.
MPR reduction from 13% to 11% ordinarily means banks will get their funding at a cheaper rate and consequently lend at lower rates to customer too - ceteris paribus, like the economists say. But that's as simple as it gets.
Currently, most banks loan book is bursting at the seems, so many non-performing loans in the hands of customers who can't pay back mostly because the economy is on a downward spin, businesses are failing and some are closing shop.
It then goes that if banks has so much funds out there that are not being repaid already, they will be unwilling to lend further to avoid more bad loans.
On the other hand, you also need money to stimulate a drowning economy. So with CRR down from 25% to 20%, it means extra liquidity for the banks, and some with greater risk appetite may still stick out their necks and lend to some specific markets.
So if the banks can consequently open the taps, 'the average Nigerian suffering in the streets' will get some extra cash to hold body.

You'v spoken well but this is just one part of the picture. Of what use is it, if banks drop their rate for me as an Indvidual. so I wll be enticed to come & borrow. What use? Here's why

- Importing is most likely, the busiess most smes are into, yet not favourable $1 = 240naira
& still rising

- Cost of running business via electricity is high
1litre = 150naira, nepa bills are CRAZZY with plans to Increase tariff soon!!!

- decreased patronage, Job cuts here & there, stories of unpaid salaries and stories of unwilligness to pay minimum wage. Who will then buy all goods, if the people are getting poorer and sacked?

- Lastly, Inflation is @ 9.3% and its bound to rise higher with falling gdp.

In essence, the lending rate can do very little to SME's. Other factors too need amendments.

Great contrbution from yall altho I'm not well versed in history and sorts. But with great fall in Oil price! A depleting reserve & taking into consideration that russia is an Oil exporting country who relies majorly on Income from OIL. How long can they keep up with the fight against isis? "Moscow times" say they spend 4million dollars per day in their fight against syria. Now if they decide to fight against turkey, that cost could double depending on the Intensity of the fight. Their 2016 budget is bout the corner with so much debates seeing how 2015 budget was running on deficit, wouldn't it further tell negatively on their economy & impact adversely on their citizens in the long run. Coz if you ask me, russian purse cannot handle this fight very long. #speaking from an economic point of view tho

A wise man once said: People say that motivation do not last, well neither does bathing, that's why its recommended daily.
***************************************In oda words, a one day trip to prison cells will not stay LONG in the mind of those bankers, if they don't engage in that trip atleast once monthly, the motivation/sober reflection will wane over time.

danjumakolo:
Nope I won't create another argument here.
But do u know that Samsung low end phone specs is no match to these graffiti phones?

The battery life n capacity,the pixel density and the mother board component of a Chinese phn is no match to a low end Samsung phn of similar specs

Stop speaking long grammar! I said Mention ONE! ONE low end samsung phone. That would justify all you'v said

danjumakolo:
So sad and funny that most Nigerians do not know that Samsung,htc,moto,Sony,Huawei,LG etc manufactures low end phones..

Samsung low end phones cannot match the specs of those upthere. If you doubt me, mention one!

JingoOAU:
The most hated personality in the whole of south east after Okorocha....but loved by every other tribes in the country apart from his people

Even Jesus was rejected by His jewish people, accepted by Africans and europeans

Ngige hated by his people? During the last gubernatorial election in anambra state, at every campaign, You'll hear the street shout "Onwa! Onwa!!" Even during the governors debate, inside the hall, people cheered him. Infact the love for him was so much anambrarians thought he would win the election but Peter obi as a master strategist fixed obiano in his own way. Ngige is well loved by easterners ooo, stop spreading rumours!