₦airaland Forum

SleekAbokii:
Will buhari discover the details in America?

Would buhari stay in America forever or is he the Senate President/ in charge of N.Assembly that he will present himself the full budget?

I agree with Pres. Buhari. Why would one sign something that you do not have the details but the summary? He needs to know the details of the bills before appending his signature.

FIRS - Federal Inland Revenue Service SIRS - State Inland Revenue Service

jamarionj:
OK, after filling annual return at FIRS or SIRS that u submit a copy of the annual report to the CAC with a fee of 1k?

Yes, that is correct!

jamarionj:
PLEASE, CAN SOMEONE HELP ME EXPLAIN THIS?




FINAL NOTICE ON STRIKING – OFF OF NAMES OF DORMANT COMPANIES
The General Public is hereby notified that a list of 38,717 Names of Dormant Companies scheduled to be delisted in line with the provision of Section 525 of Companies and Allied Matters Act CAP C20 LFN 2004 for failing to file Annual Returns as and when due is available on the Commission’s website www.cac.gov.ng and all State offices for inspection.
All affected companies are advised to take steps to have their names removed from the list by filing the requisite annual returns and other statutory updates such as notice of appointment of Secretary, current directors and current registered office address on or before 31st December, 2015.
The remedial measure outlined above will be foreclosed when the list is gazetted.
Also, all other companies who have not filed their annual returns up to date are enjoined to do so to avoid the risk of having their names struck – off from the Register of Companies.


http://new.cac.gov.ng/home/final-notice-on-striking-off-of-names-of-dormant-companies/

It is expected that after filling ur annual return at FIRS or SIRS that u submit a copy of the annual report to the CAC with a fee of 1k. Failure to do this every year attracts a fine between 3 - 5k for each year u didn't. if these years that u didn't file the annual report with CAC exceed 5 years (or more), your company will be considered DORMANT, CAC has the right to delist ur company as a registered company but u can also get it restored back if it is delisted within a timeframe by paying another fee (25k I think) for reinstatement of company registration after u must have done all the backlog annual returns and other things. The filing of this CAC annual return is done once in a year.

justwise:
I don't buy that, that is blind patriotism.

Would like to know why u called it "blind patriotism"

I still trying to understand why some people despise Arikair. I have flew arikair more than five time and the mess up I experienced that was their fault was an hour delay in Lagos but the pilot still made it and we arrived just 15mins later than the expected time and the second delay was when a very old mama went unconscious as we were about to depart for Lagos and she was evacuated. This caused delay but I cannot attribute this to arik fault.

I have flew some other airlines but my preference for arik is intact and I don't see it changed as long as their service is not worse than this occasional mess which most time is not entirely their fault.

Buy Naija; grow Naija; fly arik


NB: I don't work with arik nor have a family that work there.

biollar1:
Found it for ya

Here's her post:

mrsbw:
okay guys..wanted to wait to be debited before confirming the Form A stuff.

I intend using Dr La and WHMC. WHMC does not accept wire transfers, so I got Dr La's wire transfer details.

I went to Stanbic IBTC on Thursday for the processing.

Documents required:
a) Letter of reference from specialist doctor, or specialist hospital in Nigeria -
b) Completed Form A
c) Passport, visa and air ticket
d) Correspondence with overseas specialist doctor stating the cost of treatment etc.

Filled the form; requested for payment of doctors fees only (paid $3,000) and included my doctor's bank details. The requirement doesn't state just hospitals can be credited. It only states that it must be for medical treatment. So, I guess if you can provide your doctors correspondence (with his letterhead) and they can match it to the bank details. I guess they can also check the doctor online if they want.

Got debited the ffg this morning: Transaction: 598500; telex charge: 4000; offshore charge: $25 = 4987.50; Bank commission 0.5% = 3142.13
Total was 610629.6 which came to about N203.5 per $.

So you can actually pay for just doctor or doctor and hospital if your hospital accepts transfers.

Noticed in the CBN requirement page that if the doctor includes cost of maintenance, that cost of treatment can be made payable to the hospital and the cost of maintenance to the applicant if the applicant is an outpatient; but I did not explore that oh. Only paid doctor's bill.

Also, I had initially gone to UBA and they said they dont process Form A for childbirth. GTB said I'll be on a wait list for at least a month. Went to stanbic after @onlineise post on Wednesday, and it got processed in 48hours. Thanks so much @onlineise you are a life saver!

Pls remember to collect your telex copy from the bank as proof of payment

Hope this helps cc: @biollar1 @chloe7 @kemo88 @beautyx5

Please which specialist hospital did you use for the Form A? Is it private or teaching hospital?

Pls house, my question is to those who have Form A to make payment. Which hospital recommendation letter for overseas treatment did you use? Is it Private, secondary or teaching hospital letter?

I am sorry to say, but very few Niger Deltan will see or say anything good about the present Emir of Kano (SLS) because of some reason we all know. So I expect the Niger Deltan co-actors in this cases not to be exception but a better proof from Mrs. oruru can convince me though.

Bre:
Source: https://www./11-business-opportunities-africa-make-more-2016-john-paul-iwuoha?trk=hp-feed-article-title-share

@youngexec
Thank you for sharing.

nkc:
@cmeo, the rate is back to 290

Thank you for the update. But what are we going to do with the balance gtbank is deducting from those who have used 199naira to $1? My wife is one of those concerned sha.

maybe @ladyguinivere can help this forum sue them to court for unauthorized withdrawal on our account.

I am yet to see $100k party in these pics, let alone $1m party. Don't allow the non-african media make non existence headline with us and cause commotion as was the case in Iraq and Libya.

YoungExec:
Shout out to my friend CMEO who prompted me to share my thoughts.
Early in the year I gave a general investor outlook on 2016 as I saw it:
https://www.nairaland.com/2823697/investor-prospects-2016
Now we have seen how the Naira is turning out. Here are my thoughts for entrepreneurs and business owners on how to stay afloat.
It is settled law that entrepreneurs or business owners earn money by selling a product, service or blend of both.
Let me start by categorizing every entrepreneur and business owner into 4 broad groups:
1. NGN to NGN:
These ones produce their products and/or services using inputs sourced almost entirely in local currency and also sell to consumers who acquire the products and/or services in local currency. I can't go into giving examples of such as you know yourselves. If your raw materials or inputs are imported (hence priced in foreign currency and susceptible to forex scarcity and exchange rate volatility) you are not in this group.
2. NGN to FX:
These are entrepreneurs or business owners who price their products and/or service in Naira but source raw materials or vital inputs for production in foreign currency. Importers firmly belong here as do manufacturers whose raw materials are sourced abroad.
3. FX to NGN:
This group's products and/or services are made locally (using locally priced materials) but sold in Foreign currency as they sell to the international market. For instance, the exporters belong to this group as do some service sector entrepreneurs such as packaged tour operators.
4. FX to FX:
This group produces or renders service using inputs sourced in foreign exchange and still sell to the international market earning foreign currency. The Internet businesses, bloggers, web developers etc belong to this group.
Having done this intro, let's reflect on each group based on what each is going through now and how to adjust.
1. NGN to NGN:
Bad:
- you are noticing a general drop in demand for your products/services. This is normal because there is a general tightening in the economy. Fewer people have the disposable income to buy. Eg reflect on the number of states owing or paying partial salaries.
Good:
- you are still in business since you are not exposed to the exchange rate volatility. Your inputs are in Naira and your sales are in Naira (even though your purchasing power has dropped due to runaway inflation)
Way forward:
- because you may still have sufficient cash flow from your sales, this is an excellent time to aggressively capture market share by increasing the visibility of your products/service. Why? Because since imports have dropped due to forex issues, demand is very robust. Hence you need to get customers to see you as a viable and quality alternative to the imported versions of the same products/services you offer.
Also consider partnering with financiers to offer your products and/or service via installments
2. NGN to FX:
Bad:
- you are in big trouble, forex scarcity and high exchange rate means you are nearly out of business or hedging your available stock of products.
Good:
- you can take advantage of increased demand caused by scarcity and low import volumes to hike the cost of your products and/or services.
Way forward:
- depending on your relationship with your suppliers/manufacturers, you can leverage and secure further consignments of products/services in SWAP deals. Or they buy equity in your business in lieu of keeping up supply to you. Hence everyone wins as you all make a whole lot of money riding on the scarcity and increased demand.
3. FX - NGN
Bad:
- your cost of production might have increased while commodity prices stay fixed in the global market. Eg, you process Agro produce for export. The cost of production has risen due to inflation but you can't pass on this cost to the international buyer because the buyer will simply decide to buy from another country. Hence, you stick to your normal selling price and sacrifice a portion of your profit.
Good:
You are earning foreign exchange! Hence, your forex is able to buy a lot more Naira than it used to. Hence your purchasing power surges.
Way forward:
- try as much as possible to keep your production costs as stable as possible. Though you won't succeed 100% since you are part of a larger system that is currently in crisis, try your best to hedge against inflationary pressure by seeking to do more yourself than through the services of others. Never forget that in the international market, you are competing with so many other suppliers so you cannot come and say that because your cost of production in Nigeria has increased, your selling price will increase. Your foreign buyers will just leave you and buy elsewhere.
4. FX - FX:
Bad:
- even if your inputs are priced in forex, your operational expenses to sustain your business are in Naira. Eg, if you pay in forex to host your blog, you still buy fuel, eat and run other expenses required to keep your blog afloat in local currency. Hence right now, you are still losing money now compared to pre-crisis.
Good:
- you are somewhat insulated from the exchange rate shocks. As you produce in forex and sell in forex while getting a lot more value from your forex holdings due to the exchange rate volatility.
Way forward:
- work harder! This is the time to advertise aggressively and try to earn as much forex as you can until the system returns to normal. Be motivated by how much more you will earn in Naira per unit of forex converted and sit up!
Sorry if some things seem complicated. I get bored typing so I try to make it concise. Try and see where your business fits and make necessary adjustments. Share your knowledge with us o let us benefit. For me, I have interests across all 4 categories though I am heavily consolidating my FX - NGN and FX to FX

Thank you boss. I feel really honoured that you recognized my email and started the topic promptly. From the look out of things, almost no one is benefiting from the state of the economy now expect the bureau de change and I also believe their profit will be cut short by sudden change in demand for fx or a govt policy that we surprise them and that may make some of them record losses too, if this happen.

May God bless you boss

favoredgal:
299.9

That's nice of you. Thanks

Pls anyone here who has made the GTBank ATM withdrawal, online or POS payment in dollars today? If any, what's the rate they charge your account?

Thanks.

It is not only January lethargy now, it has included February and I can see it run through March too, if something is not done now.

However, I believe business will be good this year especially for those who are experienced and follow all business and government rules. I want to believe some of our internal competitors in govt offices have been curb by BVN of a thing, so before they gather momentum again, businesses who have done proper things would have moved by having more business to do.

My own point of view though.

Nichobabe:
I hear you bro, but the fact remains that the girl is just lucky, you can't take away that fact.

Even if she was paid to act she is still lucky.

She is getting a house, she is lucky

She is getting endorsement from IBTC, she is lucky

She is now a motivational speaker and people listen, she is lucky

She is even getting more deals than Nollywood actress, She is lucky

So whether acting o or real o. She is lucky

What is luck? A wiseman once said "luck is when preparation meets opportunity" so therefore, you can create opportunity while you prepare for it". My conclusion to you is that luck is a deliberate action.

of course, we don't need a toluakin to prove this to us.

A current and entrepreneur Nigerian would know that this news is talking about Mr. Olaoluwa, the recentlt sacked MD of Bank of Industry (BOI). The news is so full of details that you wouldn't really need to guess to know who it talks about.

@bisoye82
Like I earlier stated but deleted by the mod, I don't want to dignify you with a response, but keep curtailing your indiscipline even when on the internet/online.

@modath @chloe7
I appreciate your mature understanding, and by their word, ye shall know them.

@all
I think I made my motive for the post clear and not to scare anyone.

All these Okoye's fight.

Is this another theater for marketing/business?
I keep my finger crossed!

Eyepencil:
.

Spot on!

I'm just happy for the girl, but c'mon this whole brouhaha was staged. It's not just coincidence jareee!

Coincidence ke? This is strategically staged managed!

inme:
It's seems you've never experience Divine Miraculous Speed in your life before.

Tell me the one you as a person has experienced? If you don't have any to share, wake up bro., this is 21st century!

Of course I knew there is something up about Olajumoke this...!, bread seller that...!

It was just a marketing strategy well played out by TYBello and her crew. How can one explain all this news and contract signing without prior serious strategic behind the scene? From my experience, contracts negotiation, signing and the likes is not done at the pace these people are presenting Olajumoke case to us.

As a business person, I salute TYBello for her this 21st century strategic marketing plan cum business show.

@scantee

please help me with those biz documents too.
js.ohboy@yahoo.com

thank you and God bless

Firstly, Wiffy got to US through New York for the intent of giving birth in Texas using Arikair to New York and American local airline to Texas. She was asked to pre-registered at the electronic kiosk before proceeding to the CBP officer desk for fingerprint and image capturing.

CBP: What the purpose of your trip?
Wife: TO give birth
CBP: How are you going to pay for it?
Wiffy: I have $500 cash with me and I have some $6500 on a debit card here with me
CBP: Where are you going to stay here
Wiffy: Gave the address in Texas
CBP: Whats the relationship of the person to you?
Wiffy: Aunt
CBP: Whats the sex of the baby? .... smiles
WIffy: Told him
CBP: Proceed to get your bag and declare what you have there at the other end
Wiffy: Thank you

No secondary inspection. She was through within 5 minutes.

At the declaring place:
She said two officers were talking to each other what she said to the CBP officer (that she was here to give birth). The other just said my wife did and it seems america is interested in adding to its population (something like colleagues at work chatting). They asked the content of her bag and she said "Melon" they exclaimed the Melon (possibly because they thought its dangerous) and asked to proceed to a machine to scan the melon. They ask if she has gala, indomine, maggi and she answered in negative and so one of her bag was scanned in the machine and they allow her to go.

Secondly, let me share with you how we bought her ticket at total price of 218578.46 Naira.
We booked Lagos-NewYork-Lagos with airkair at 189392.00 and One-way ticket from NewYork to Houston at $108.10 (gtbank charged 29186.46 naira for that). Our preference for airkair are because: it is tiwa-n-tiwa, better price, direct to New York, they contribute to US economy and more to Nigeria economy and we also don't want to despise our own thing (though we know there are big room for improvement with Arikair).
Wiffy left Lagos at 28 weeks. Arik requested for fit-to-fly certificate and we went to Port-Health Clinic for one at the rate of 1200naira and she was examined to be 26 weeks (that was what they wrote on the certificate without anyone telling them what to do or her pregnancy age. They only asked about her last menstra date)

All this photoshop. It seems bloggers have learnt photoshop skills and putting it into use to create fake news. Abi u no wonder how knife will stuck into ones check and the white handkerchief used to drain blood does not even have a blood dot or sample. Mod please give us better tori not this fake one.

UPDATED:
I am sorry I was wrong. A new post on the topic showed where the knife was removed from the victim's cheek with doctors and the husband taken to court. So, now I CANNOT simply say that the story is fake and photoshop.

YoungExec:
Feel free to drop your likely investing route for 2016. Let's share ideas.
So far:
1. Importation: Not attractive due to exchange rate and Forex restrictions
2. T.Bills: Unnattractive due to very low ROI
3. FD: Unnattractive, Banks are doing low single digits
4. Manufacturing: Unattractive as old issues (no power, high interest rates) joined new issues (Forex restrictions, low income per capita, inflation)
5. Stocks: I already took a hammering in 2015, watched my portfolio lose 20% value across board both blue chip and no chip
6. corporate debt: Unnattractive due to current economic headwinds, plus govt policy uncertainty.
7. Oil & Gas: Unnattractive, stocks down due to ever falling oil prices (plus Iran is about to ramp up production and add to the wahala) plus uncertain govt oil and gas policy.

Brothers & Sisters in the Lord I am beginning to look at Entertainment (Africa wide consumption) and Agriculture (Processing for export). But sadly, most coys in these fields don't have solid investable structures.

My ogas, let us look into 2016 and proffer solution for at least 15% ROI. I can't be the only one seeing this bleak outlook.

Boss,
Compliment of the season. I am happy to see you back here. I sent you PMs but there was no response.

I am yet to know the definite direction of business in this new year but I believe production of education materials will still move in the market. I have an idea of an education material which I would like to go into its production but the idea is open for other interested investor.

If you would like to know more about the business idea, let me know so that I can share it with u and we could partner together because I can't finance it all alone. I am sure it is an idea that will bring profit.

Once again, I thank you for support you gave me last year, if not for your timely advises, I can't imagine what could happen to me in the business world. Please I will need u to be there for me again this year.

Regards,
John