₦airaland Forum

Ugosample:
You will take Festac over lekki?
It's your choice sha

yes sire I will, no flood issues there and there is so much life in the area, gimme a plot of land of same value there and at lekki. I will take that of festac

although Lagos state is on a low land, if there is any place that will first be badly hit by ocean rising from climate change, it is lekki........
most of y'all haven't heard about the Lagos wall that's to be built to protect the Atlantic city from future ocean surges, as scientist has pointed out, lekki is a danger zone for the future.
as for me, give me Ikeja gra or festac town, I go collect am over lekki phase 1anyday anytime.

Chidonc:
you said it yourself that they told her they dont have pounds, they didnt convert her money to naira equivalent againts her will or was she paid in naira.

no it wasn't converted to naira, I wouldn't even advice her to take the alternative when she could earn more if she changed the money at the parallel market. it wasn't converted anyways, money still in the account pending when the bank will have pounds.

Chidonc:
u have been saving dollars since ur 100l days and you now feel that you are rich a enough to call someone poverty stricken. Are you the one paying is bills. Tell us the bank you bank with let me also prove to you that you are lying.even the common sense is not so common these days.

baba na true o, maale don dey try collect the small pounds in popsy account. for about a year now, dem just dey turn her around saying they dont have pounds. these banks them no wetin den dey do

309million dollars flowed in and yet no significant change in the parallel market? could it be the bureau de change operators are selfishly dictating the Price in the parallel market an not the demand-supply Shiite we have been fed since.
anyways time will tell within the week

omojoshy:
Death will come WHEN and HOW it's destined to come.

May God protect and safe us from untimely death as we approach the EMBER months and beyond.

'Like' if you say Amen.

whenever it is death, that's when people remember destiny but when it comes to success you remember it's hard work. oga, God didn't destine anybody to die Like this, let's stop this common saying of destiny this destiny that.
this man died here simply by someone else's choice, he wouldn't had died if that driver was more watchful. God NEVER destined us to die this way prematurely. lf he had become a multimillionaire, I am sure nobody wukk say it's destiby that made him rich. jez saying

omojoshy:
Death will come WHEN and HOW it's destined to come.

May God protect and safe us from untimely death as we approach the EMBER months and beyond.

'Like' if you say Amen.

whenever it is death, that's when people remember destiny but when it comes to success you remember it's hard work. oga, God didn't destine anybody to die Like this, let's stop this common saying of destiny this destiny that.
this man died here simply by someone else's choice, he wouldn't had died if that driver was more watchful. God NEVER destined us to die this way prematurely. lf he had become a multimillionaire, I am sure nobody wukk say it's destiby that made him rich. jez saying

Standing5:
Govt policies didn't crash oll prices and vandalism hasn't reduced export vol by 80% yet. Stop twisting and exergerating excuses. If at $100pb we couldn't invest ho

this comment proves me right that you are not actually reading the comments to understand them. you just take a glance $ then rush to comment. pls highlight where I said vandalism has reduced export by 80% or that pmb policies are responsible for crash in oil price. learn to cultivate a good reading habit bro. with this, I am done replying you. Udo!

Standing5:
The cocoa, palm oil, groundnut, cotton exporters have been discourage by the $ subsidy over time. Get it? You will soon start hearing of them again. Just imagine neting $10,000 from cocoa at N500/$. That's N5M.

you still don't get it, do you? yes exporters should be making more money but sadly enough its not favouring them, our trade deficit is still in the negative? exports volumes keep going down qoq. are you actually reading what I have been writing.
cost of production is high. do you think people arent knowledgeable enough to see the opportunity. moreover oil and gas actor is responsible for about 80℅ of what we export, but vandakism has reduced what we should be getting from it. all thanks to the 97 and 5℅ speech.
if you still can't see that the policies of this govt isn't favourable. then something is wrong with yo. only the banks are recording huge increase revenue quarter on quareter bevause they have been exploiting us through the dubious forex deals. the rest sectors are struggling to survive.

Standing5:
Dollar subsidy is worse than oil subsidy. In dollar subsidy the exporters get less income in Naira because the govt is surpressing dollar exchange rate. For this reason govt can't keep subsidizing $ while it tries to encourage alternative export commodities outside oil. Get it?

where are the exporters bro? look our manufacturing firms are losing revenues and closing up shop, multiple taxation , high loan rate of 27℅. inflation on the increase not forgetting the shrinking oil volume as a result of the presidents uncouth sentences. in what way has this govt favoured exporters? tell me pls what it has done so far that has made export increase?

Standing5:
are you aware it cost use average of $28.99 process a barrel of crude for export? Multiply that by the no of barrel that yeilded the $40B revenve and deduct it.

all I am saying bro, buhar will be faulted for the way the economy is. in the first quarter we experienced a trade deficit of about 180billion. yea we can't export as we use to due to vandalism, but then that's the fault of the president for creating tension through his utterances in the media.
ask yourself this, if nigeria gets about 20billion dollars annually from foreign remittances which translate to an average of $5bn dollars per quarter, why hasn't the remittances be used to cushion the effect of the trade deficit of just 180billion in the first quarter, hence making the exchange rate stable? something is very wrong with this govt.

Standing5:
Stop being terrified and terrorized by 'Ignorance'. Your appetite for foreign goods and service is the real cause of dollar rate skyrocketting. As long as you earn less dollar(via oil and other export) and consume the available ones faster it will keep creating a supply deficit of $ and send its rates high. The era of subsiding dollar at the detriment of exporters is over. Wake up and up your service and product game to intl standard to stand a better chance of making dollar on a personal level.

let's discuss this in plain terms, are you aware that the federal govt gets about 20billion dollars in oil revenue , we also get about 20billion dollars in remittances. now if about 40billion dollars is coming into the country, have you asked yourself how come it's still not sufficient enough to fuel our demand for dollars, or will you say that Nigerians demand for over 40billion dollars annually just to import?

since the govt has also banned petrol importers for accessing forex at the inter bank rate. why can't it re- admit most of the 40 importers it placed ban on for close to a year now, I believe that will reduce inflation and reduce pressure on the naira at the parallel market.
aside from oil sales, Nigeria gets over 20billion dollars annually as remittances from those living abroad, that alone should ease the pressure wholesomely. something is not just adding up

no flood here at festac town it's been raining for over 24hrs

Successobed:
First of all, the biggest mistake you made was going to the UK to study for your masters, had it been you came to US instead you wouldn't need to spend so much and you would have gotten a job immediately here in the US and even stay behind .....you could even be working and doing your masters at the same time, you might have even realize all the money you spent before you even finish your master.

Secondly you didn't have your mom's blessings when taking that bold step to go to the UK you even betrayed her, that is so so sad even though you have both made peace.

exactly, anybody still going to UK with the hope of returning to naiija forr a better job is very mis informed. i will pick Canada, Australia or usa over UK any day anytime.

cowgirl9090:
I just tire for him matter, with 6miilion naira he can buy 2plots of land and build1 storey building in Aba majoy city.

impossible. 1 storey building + 2plots? all for 6million. nwanne kwusi ishi ashi

the mistakd op did was to study at england. that's a f.ucked up place, after your study they will just send you back to naija. if he had done masters at Canada or Australia, upon graduation he will still have 1-2yrsvleft to get a job.
people should quit going to England for school purpose all they need us your money, choose Canada or Australia. kpele sha, you done cast.

paragon40:
bro how much can i get it and where?

beware of scam bro, Google no even sabi the phone Alcatel 1310. be careful

fados4sure:
I guess you meant Itel 1556

I just checked this phones stats, I saw the ram is 512mb, haba. how you go advice person to buy a phone of 512mb ram with a whopping 20k. na waste of money baba

my fellow Igbo 'bloodas' can y'all not see the business opportunity here.
there is lack of maize feed for poultry farmer, is there no way one can import cheap maize feed from any asian country like thailand and sell below 18,000 to beat the competitors. making sharp money. make una dey see wetin i dey we nah

Saheed9:
23 goals in 46 matches... wow
that must be one of Nigeria's best goal per game ratio, if not the best

yes he is one of the best in goal per game ratio, but have you checked yekini's stats. that dude is a goal poacher, 37goals in 58matches. no striker can match that in 9ja

sammhi:
hahaha ..display of hate ,twisted thought and poor financial knowledge ..
first : TSA was not the brain child of this govt. it was that of immidiate past adminstration so the question of Anti TSA does not arise . no one is saying TSA is bad but its implementation must be done not to harm the banks.
secondly, TSA is used in some other countries too and its implementation is done so as not to cause problems to the banks . Main purpose of TSA is to TRACK government revenue. without TSA , it is impossible to track these accounts. so , with that wherever the money is , it is stil accessible to the government . you do not have to mop the fund from the system that is in recession since you are tracking it .
thirdly: banks profit being more this year...the FG created the loophole for banks to exploit by fixing currency at 197 .whose fault ?
Fourthly and most important, please purge your mind and heart from this mentality of assuming that everyone is a thief and any person given to contrary view benefit from the system. a lot of us knows you are not doing correct things. Even SLS , today berates the govt for its policies . What is going on in your govt now is that you guys are much busy looking for scape goat and those to call thief instead of working. it is a shame
You want bank not to use govt money or govt should not keep their money with banks..this seem more like beef or some kind of ludicrous . of what use is money sitting idle and benefiting no one?
chai, no wonder the country is suffering with people like your type in corridors of power

Mr man please do not contradict yourself. You just said that the t.s.a policy was a last administration idea (which I agree), also you said sanusi berates the policies of this present govt. how can you ever think that t.s.a will be amongst the policy sansei loathes when he and N.O.I would have been the brain behind it does that make sense to you
Well that aside...........Talking about leaving the bank bleeding after t.s.a October last year I went to the bank to do a fixed deposit. I went with high hopes of receiving a High interest rate because I expected the bank to be in dire need of cash after the t.s.a. Policy. I was disappointed that day at the rates, 3.5% - 4% for 90 days was what I was offered. I couldn't believe my ears , how could banking sectors not be needing cAsh at that moment when t.s.a had sucked out bout 2trillion.........Well on further enquiry, I found out that despite the fact cbn milked about 2trillion from banks, it pumped back liquidity of over 700billion and reduced the cash reserve ratio from 31% to 25% that brought the banking sector an added savings of 470billion. So you see my friend, cbn didn't leave the bank to die, it brought rescue while advising them to manage their risk portfolio for shocks that may arise in the future.
If you will agree with me, the main challenge now in the banking sector isn't T.s.a but the rising non performing loan, mostly in the oil and gas sector. T.s.a is an excellent policy that has gotten various commendations from top financial heads in the country. I am not an economist tho but I know well to commend good policies when I see one. Moreover t.s.a policy approval or not is off point to what this thread is about.
The fault of the cbn according to the Topic of discussion(thread) was to ban the banks from forex dealings instead of placing a fine. It's not the first time banks will err in remitting the revenues of mda to the account. A fine was placed on the defaulters in the past like when Zenith or uba were found guilty, so I wonder why cbn will change the punishment now to forex ban instead of fine. Lets discuss the topic gentlemen

sammhi:
Initially I wanted to ignore you but for the benefit of many kids in nairaland who don't know left from right I would grant you a response .
It is economically and financially very wrong for FG to empty banks of all its monies . It is never done anywhere in the world . It is like saying we too should keep all our monies under our pillow or where we want . How then are the banks to operate ? With what funds ?
The important thing is that CBN and NNpc are aware of the amount with them. Like I said earlier , what the FG should do is to tel them to pay interest on the amount with them . They could even tell the banks the percentage of the money to keep and the amount to remit to TSA .
Even as individual , if you keep withdrawing all monies from your account and the amount is significant , banks will engage you and make proposition so you can keep some with them.
It makes no sense at all for FG to
Make the banks look as if they are rogues or against their interest . !
What the FG has done is to further erode confidence in the banks . If the banks collapse , you and I are the ones to feel the pains .
Govt is to enhance confidence and help build their financial base.
You and your likes are very wrong . TSA implementation does not mean all monie should be outside the banks .

yes is that all you got, because that's the only ammunition those that are anti TSA have during such this discussion. a popular maxim says its only a mad man that will keep doing the same thing over an over and be xpcting different results. the core motive of TSA was to curb leakages which is one of the ingredients that has been fueling corruption over the years.
we have seen how different administration siphoned funds because of lack of transparency in accountability. banks are supposed to wealth creators too, they are supposed to be partners in business especially the smes through loans and professiobal advice. look at the mid year reports from firstbank, access and gtb all more profits than they earnrd by mid 2015 , most of the revenue coming from the dubious forex transaction. not all CBN policies has been fantastic but to find fault in the TSA policy is truly insane
banks should get to the real deal not waiting on government money, kapish

IrradiatoR:
imagine this


we believe, we believe. . .

they had no idea of what was going on in their backyard. . .

and I can't imagine supposedly exposed individuals not to put on life jackets. .

it is a pity

what killed these officials was simply sheer negligence, they drowned not because the boat capsized. they drowned because they couldn't swim and didn't have a life jacket as support.
sometimes not all the deaths are fate or destiny as people are force to think, some of them are caused by our own choices.
let's always ask the questions "what if" before we engage in any action. the question " what if" will help you think of how you can manage the risk to come ( calculated risk), too baad this had to happen to learned peeps. God dey

Franky9584:
my guy u Bleep up full time, so u no fit arrange one babe for d whole unizik?...na to comot for nite on top wetin kwanu?

baba I tell you oh, unizik wey fine girls plenty anyhow for awka. na f up

better for am, he was confused. broke into the music limelight with English rap only to switch to Igbo rap when he saw the likes of phyno and flavour accepted using their own dialect. you hv paid your dues sha. you will not be missed tho

OMOTOWO:
new one?

where you wan see brand new Micra now, I mean UK used, tokumbo. like i said it was formerly sold 300-400k but I can't tell for now. its usually rushed, its a hot cake @ alaba . you should try and visit there to buy one

only two things I need
sex and
kids. that's all
the rest can be sourced from outside, food, financial support, emotional support bla bla bla. just sex and kids finish

OMOTOWO:
bro.how much can I get a used micra which is still OK?

with the exchange rate now. e fit be 500-600k oh. I remember it used to be sold at say 300k from the container at alaba market

crackhouse:
this is exactly my thought right now.
Well our politicians always have a way to deceive Nigerians. .....but Jonathan really denied it, it's just that we didn't believe him.

I am sorry to burst your bubbles, bro not everyone was deceived. the information of how much was in our reserves was always out out in the media from Tim to time. except you allowed yourself to be deceived, maybe you swallowed the lie hook line and sinker that the reserves were empty. not plenty Nigerians believed that poo bro, so don't generalize

Gmekx:
But oil prices are above the budgeted prices

yes prices are above the budgeted prices, but how about the volume? instead of 2.2mbpd captured in the budget, we now pump 1.5mbpd. so bro all is still not well

some of the people we call billionaires in Nigeria are just fake. if most of them PAID off their debt, their wealth will crash. most of them are not worth being envied at all, I rather have a couple of millions living a debt free life than be worth billions of naira but can't sleep peacefully because of the debt hanging on my neck.
this was why jimoh Ibrahim laughed when dangotes name appeared on forbes list in 2007, he laughed at the publication saying Nigerian billionaires like aliko or femi otedola owed huge debt and in the real sense were not fit to be called billionaires. in case you missed the story here is the link : www.nairaland.com/69175/buhahahaha-jimoh-refutes-dangote-bilionaire