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Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 5:23pm On Apr 22
JaySterling:
Please, what is a good monthly salary, a good opening balance and a good closing balance

I would think that you, being in Nigeria now, should be the one to determine that. Find out how much flights cost, what the price of your intended accommodation will be, factor in roughly £50 per day for subsistence, etc. and work out a salary figure that shows you can afford it.

Use as a rough guide the assumption that a holiday shouldn't cost you more than a month's pay. That's what I used to use when filing for visas back then. Feel free to substitute your own assumptions as you see fit.

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Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 3:02pm On Apr 21
elengine:
Happy Sunday everyone. My rent will expire by May 6 and I gave a notice to my landlord on March 7. Now this man has come to display 'a to rent' signpost in front of my house. My question- is this legal even though I have not moved out.
I dont think its illegal. 6 May is almost here?

The important thing is that they can't conduct viewings of the property without your consent, so they might ask you if will agree for them to bring potential tenants to view the place at times you find convenient. You can say no if you like. But if you and the landlord have got along well, then if they ask, see if you can make concessions to them, for the sake of goodwill, even if you don't need a reference from them.

2 Likes

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 9:40am On Apr 21
miidae:
Good day everyone Please I need your honest advice My husband is on a student visa which will expire Sept 2025, he came in sept 2023 and I joined him 27th of March, 2024.
When I got here hubby said I shouldn’t bother looking for my job here because I won’t get sponsorship that he already has a care job for me (got my brp on Wednesday and awaiting NI)
I have over 7yrs of experience in QA/QC in pharma, my last roles was QAM, I got the offer fews weeks before traveling which I rejected.
I edited my CV to UK format and applied on job sites like indeed and LinkedIn. I got interviewed by some agencies and companies (I have one interview next Monday with a big pharm coy).
Each time I get interviewed the last question is do I need sponsorship my answer is always yes as suggested by hubby.
I’m just tired, he said sponsorship is the real deal
Is it possible to get sponsorship in my career line?
Do I take the care job as suggested by hubby?
Do I stop applying?

Just like in many other situations in life, there is no right or wrong answer to your overall dilemma regarding the care sponsorship. All you will get are other people's opinions, which may or may not be coloured by their own experiences.

In response to your questions, you can get sponsorship in any field, including the career line you mentioned. The chances of sponsorship vary naturally with the level of demand for your job role and the potential willingness of employers to secure qualified and/or experienced staff.

But the way the UK immigration system is structured means that when you are in a non-health and care role, you pay way more in terms of visa fees and IHS than those in such roles. In some jobs you have to pay the fees then claim them back. To get this out of the way, I am in an administrative skilled worker role in the NHS, so I pay the IHS and claim it back.

However, you also have to factor in security as well as cost. Your husband might be looking at the fact that the care sector is almost as stable in the UK as the civil service back in Naija - it is definitely almost certain that if you get a care-sponsored job you aren't likely to lose it except you do something major. You are likely to see out your 5 year visa and get settlement. While the private sector on the other hand is less stable. However, as an aside, I happen to know a bit about the pharma industry because I work in medical research and we interface with the pharma chaps a lot and I do think that if you get such a role with sponsorship it is likely to be quite stable.

My opinion would be to keep applying and see what comes up, after all you have more than 18 months to go. Ultimately it's a question of calculating risk. Do you have a fallback if you don't take the care COS and happen not to get a sponsored job within the more than 18 months time you have as a dependent? Can you get a fallback? What are your husband's own employment prospects like? What career had he in Naija, what is he studying here? Is he likely or unlikely to get some sponsored role? Take all these and more into consideration and make a decision.

6 Likes

Travel / Re: General UK Visa Enquiries - Part 5 by Cyberknight: 2:54pm On Apr 15
Bigkenny:
I am filling out the UK visa application for a sister who is planning to go to the UK for a short vacation with her husband, but she has no marriage certificate. The sister and the husband did only the traditional wedding. The only thing they have are wedding photos.

Under the relationship status, should I put married for her or an unmarried partner?

Also, she doesn't have a good bank statement. Her account balance is about 150k naira, but she said the husband's account is good (she said his bank balance is 10 million naira and $9600 in his domiciliary account).

Can she use her husband as her sponsor?

They have a daughter together who is studying at the university. The husband doesn't need a visa to enter the UK because he has a Panama passport apart from his Nigerian passport. Their daughter is not traveling with them.

They owned a house property. The C of O is in the husband's name.

How can I help her package this application?

Her husband can cover the trip, since they are married, so put that as her relationship status. They should get an affidavit from a High Court where they live in Nigeria declaring that they contracted a customary marriage on so-and-so date. Is she living with her husband? Gather all the evidence they have of their relationship particularly co-habitation (sharing the same address on official documents, providing support for one another, sharing bills, etc.).
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 10:36am On Apr 13
Meogom:
So there's this stuff people at my work place claim, about £140 pounds tax relief for washing your uniform, they said I could apply for it too. I've gone through it and I tick all the boxes, but I don't know if it's public fund and if I'm entitled to it. Make 140 quid no go purge belle. Please does anyone know about it and am I safe to go ahead with it.
Note: I'm on skilled worker dependent visa

https://www.gov.uk/tax-relief-for-employees/uniforms-work-clothing-and-tools

1 Like 1 Share

Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 9 by Cyberknight: 7:48am On Apr 04
MeinKampf:
@justwise and other gurus, I just got my P60 and I need someone to interpret it for me whether I qualify for a tax refund or not. Or someone that can just explain to me how to study and analyse it. Thanks

Why do you feel you overpaid tax? Generally, unless your situation was not simple such as you started a job during the tax year so had an emergency tax code or you had more than one job during the tax year, you shouldn't have overpaid tax. HMRC will "balance your account" and will send you either a refund or an underpayment notice anytime after April 6 this year which is when the new tax year starts.

You can use your payslips and a tax calculator like this one https://www.moneysavingexpert.com/tax-calculator/ and determine how much tax + NI you should have paid for the tax year and see if you are paid more or less than what you should.

1 Like

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 1:05pm On Mar 10
LaXxOnebody:
You can call the UKVI helpline but you wont get any help. They're one of the most inefficient call centres in the UK (personal experience and experience of others).

You'd need to send an email to complaints@homeoffice.gov.uk and copy public.enquiries@homeoffice.gov.uk. You'd then start getting holding messages.

It's probably Atlas messing with you. You can read about it here - https://inews.co.uk/news/politics/faulty-71m-home-office-it-system-causes-immigration-errors-and-leaves-staff-sobbing-2943859

Good luck!


Not again.

Hopefully this wont be another Post Office-type matter for the millions of people on visas in this country.

Still wondering why they're insisting on phasing out BRPs and moving everyone to the digital status thing. Just imagining standing in a queue at Lagos airport some time in 2025 while a harassed airline staff tries to verify a share code on Home Office Atlas before letting one board is giving one nightmares. Hilariously someone said she won't travel out of the UK after 2024 so she doesn't get "locked out". Doesn't seem so funny anymore.
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 1:15pm On Mar 09
Zahra29:


A lot of this resentment stems from public opinion that asylum seekers are chancers who are living it large on the state with free accommodation and benefits and doing nothing but going shopping and popping out babies.

And who can blame them if this is the narrative being put out there on Facebook and the like.

"Politics is the art of making fool of all the people, that are not fools, all the time and making them believe that they are not being made fool of."

2 Likes

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 1:12pm On Mar 09
missjekyll:
Ahem ....cough cough that egalite whatever led them to try to stamp out local cultures in their overseas colonies inorder to form the population into "Frenchmen" . It didnt work.
They should have studied the Roman Empire. Rome governed with a light touch however Empires have an expiry date and even they eventually fell.

Very interesting discussions here today.

cheesy Exactly.

The 18th and 19th centuries weren't known for political correctness, so diversity wasn't a watchword or a thing back then. They tried to bring about an (admittedly utopian) situation where everyone would be "one", irrespective of skin colour. We know that's not possible.

But the point I was making is that the French are not more racist than the British or anyone else, and I substantiated that point by showing that, however misguided or quixotic it may have been, their French government came up with an official policy of equality more than 2 centuries ago, and tried it.
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 1:07pm On Mar 09
missjekyll:
If anyone can just turn up and claim asylum,then the asylum system is working just as it should. Its up to the courts to decide whether they have a right to asylum. We know that 75% of our asylum seekers do have a good case and are granted asylum.

The reasons for choosing the UK are immaterial to be honest. Those 2 countries you mentioned take in even more than we do. so many choose to stay in mainland Europe. The few who decide to make the perilous journey to our shores must feel strongly connected to the UK.
I doubt it's the 7 pounds and Bibby Stockholm aka plague city that's the main motive.


Agreed. So those who are genuine claimants displaced by conflict with nowhere else to turn should have no problem enduring while their claims are determined.
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 12:44pm On Mar 09
Zahra29:


I think most feel that the UK is less racist than France, some have family members here and there's also the language barrier in France.

But it's increasingly very difficult to get under table work here with the new immigration rules that stipulate fines of over £20k to
employers and landlords found to be harbouring illegal migrants.

The only businesses willing to take that risk imo are criminal enterprises or slave masters that take full advantage of people's desperation and pay them peanuts with zero rights.
Businesses such as restaurants, car washes and others get raided on the regular by the home office via tip-offs etc

Yes, there's that perception about France which is ironic, because the French were actually the first oyibo country to not only preach, but also actually attempt to practise so-called Liberte, Egalite and Fraternite. France is definitely not more racist in any way; the major problem France has is because it is such a heavily regulated place, it is not very easy for people to get ahead in life when you are disadvantaged as opposed to the more lightly regulated Anglo countries like the UK and the US, which of course tends to lead to relatively higher numbers of immigrants at the lower end of the socio-economic scale.
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 12:24pm On Mar 09
missjekyll:
You can work. They are not allowed to. Thats a foolish policy enacted by the labour government.

Let them work while their claims are going through the courts. the country gets the tax and doesn't have to support them. The asylum seekers have a sense of purpose and more money for themselves. Its a win for everyone.

I dont think anyone should have public money until they ve paid into it. 5 years is a bit much though.

I don't think it's foolish. It might not be working as a policy, but its aim is to serve as a deterrent of sorts. If anyone can turn up and claim asylum then start to work while their claims are heard, that becomes a draw.

Of course this is allowed in the US and France, among others, which are major recipients of asylum seekers. It's interesting that so many asylum seekers pass through France and come to the UK instead - most likely because they feel that its easier to get under-the-table work in the UK than actual proper employment in France with its heavily regulated labour market (is it?).

1 Like

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by Cyberknight: 9:05am On Jan 25
abuhusna1:

The law is statight forward as long as you are not 18 before your residence in the uk is 7 years you are entitled to regularisation. No Jupiter can send the child out of uk after 7 years as he or she is entitled to private right. Many people had regularised their status this way cos as soon as the child gets regulariaed the parent use their child's status to regularise.

This is correct to an extent. However, it is debatable whether this provision is absolute and will be applicable in cases where parents deliberately decided not to pay for visas for their children while they continued paying for themselves and either could have afforded to pay for the children's visas or could have stretched themselves to do so or sought a fee waiver if they genuinely could not pay.

At some point any such children's status might come to the HO's notice, either when they are registering for school somewhere or if they have to seek non-emergency treatment and the parents incur a bill or if a landlord asks for BRPs when parents move house, etc.

Remember that the general thrust of visa policy in this country is to collect money from migrants to pay for public services, so allowing people to get away with not paying for dependants visas to save themselves money would entail creating moral hazard that the HO might or might not decide to follow up on.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 9:25pm On Aug 18, 2022
Boyhood:
Saw this on fb and I wish to ask can one actually open a foreign account from Nigeria? Could this be a scam advert?

Yes to the bolded.
It's not a scam advert, a quick googling will show you that Barclays does actually offer such an account. However, most such accounts are for wealthy people.
You can try and open something like that from Nigeria. It's theoretically possible, but unfortunately a lot of countries don't want to touch Nigerians, for obvious reasons. It was way easier like 15 years ago.

If you want somewhere to keep your money away from Nigeria, try Wise.com. No minimum balances. It's a fully digital bank account and it is quite handy if you dey fear say at some point domiciliary accounts might become .....

https://international.standardbank.com/international/personal/products-and-services/bank/international-bank-accounts/optimum-bank-account

1 Like

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 11:24am On Jul 28, 2022
jedisco:


The kneejerk reaction by consumers who are speculating is not the reason we're here. Rather what they're doing is a consequence of past macro events.

When CBN was rapidly issuing short-term TBs at rates well over 10%, did we bother to ask how the government will generate revenue to pay back? We all knew the revenue of the government was in decline and the only way they'd pay back was to print more naira yet we kept quiet and enjoyed the largesse.

When DMO and MOF kept issuing eurobonds at rates of close to 10% and coming back to boast that their oversubscription means there is confidence in the market, what did we say? We said the professionals know better. Same forex that foreign governments borrow at negative rates.

Blaming the masses is similar to blaming the victims of the train attack for being kidnapped. Let everyone protect their wealth as they see fit so long they are not committing a crime.

Regarding the bolded, the awesome insanity of those moves still astounds me till today.
I did buy TBs at that time and follow chop the interest, all the while wondering what sort of voodoo economics the CBN was practising, with the highest TB rates in the known world in a government that had only one real source of income - an asset with a fluctuating price.

Venezuelans and Zimbabweans are patiently waiting for us to join their club.

2 Likes

Travel / Re: Securing Visa To France, Applying From Nigeria... by Cyberknight: 10:36am On Jul 05, 2022
davide470:
@Aaaaarghmed,

France does not deport unnecessarily. Those people serve a purpose in the grand scheme of things. Police hardly ask for your ID except you are suspicious, or behaving in a strange & uncanny manner around public places.

As an unregistered migrant without papers, you are alienated from the society. You can't open a bank account, rent an apartment, access free healthcare (except red cross) or get a reasonable job.. that alone is stylishly meant to force you to leave.

Same with Spain and Italy.
Lots of migrants hanging around on the streets in the major cities, hustling street trade.
Police generally only take an interest when crime is involved, the migrants otherwise live in their own parallel world.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 10:53am On Apr 07, 2022
ojesymsym:
I was almost beginning to believe that the dependency on oil will really end or reduce soon until this Russia Ukraine war started then I realized that the west is still very far from heavy reliance on fossil fuel. Even if they remove the vehicular need, there are many other areas that guzzle fossil fuel.


Fossil fuels are still far from dead.
The so-called alternative fuel for motor vehicles - electricity or hydrogen - still require fossil fuels to generate in most cases.
Solar and wind, with current technologies, do not form an appreciable part of most countries' energy mix. The UK for instance has gone far with wind, but on a good windy day it doesnt go much beyond 30% of generation. Still burning plenty of gas, many European countries are still burning coal, even.

Hence Putin's shakara.

1 Like

Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 6:54pm On Dec 04, 2021
Kikistar:
Thanks for the response. Self-employed - I run digital services as a freelancer. Working on my CAC. What other document(s) do I need?


Hold fire on that application.
If you are an adult and you can't afford to sponsor yourself, you almost certainly will not get it.
Travel / Re: Securing Visa To France, Applying From Nigeria... by Cyberknight: 6:49pm On Dec 04, 2021
rebless:
Hello house

It seems France and schengen countries are not really popular with Nigerians cos I notice this thread is not active at all.

What do you guys think of any propose application this December considering the new COVID 19 variant ravaging Europe and the world at large?

Postpone it.
Travel / Re: Securing Visa To France, Applying From Nigeria... by Cyberknight: 6:47pm On Dec 04, 2021
pol23:
N.B: This is a question about Austria Schengen visa.
I and my wife applied for Austrian Tourist visa since 22nd of October.... and till now we're yet to get any response...
Reason of visit is for Christmas Holiday.
We're first time visitor to Europe.
Just wondering if anyone have an idea of what's going on.
I've sent several email with no response to their embassy.
N.B: I'm asking on this thread because there's none for Austrian Tourist and I actually read this thread to for required documents....

Thank you

Austria is currently in lockdown - maybe that has something to do with it as a Christmas holiday there is almost definitely not feasible at the moment.

1 Like

Travel / Re: Securing Visa To France, Applying From Nigeria... by Cyberknight: 6:45pm On Dec 04, 2021
esdajo:
Thanks. The address is written on the refusal letter but how do they expect an English-speaking person from an English-speaking nation like Nigeria to appeal in french language? I have appealed in the past against a visa refusal at the German consulate and it was entirely in English language. Is this a deliberate attempt to frustrate the whole process or what? Has anyone here appealed against a French visa refusal and what the language of the appeal?


Look at it from their standpoint - given that appeals are dealt with in France, why would they ask people to write their appeals in any language other than French?
As an aside, don't waste your time appealing.
Simply reapply.
Travel / Re: Securing Visa To France, Applying From Nigeria... by Cyberknight: 6:43pm On Dec 04, 2021
makforex:
Good evening my pple, pls someone should help me, my international passport ll be expired March 8th 2022, I want to know if I can use it to apply for French visa on December and use it to travel on February, 2022?
As my renewal passport is not yet ready for collection for the past 2 months.

You can't.
Your passport must have at least 3 months validity after the date of your return.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 7:24am On Sep 18, 2021
jedisco:


Also, similar to my reasoning earlier, it's good to see our VP question banks regarding mortgage...

If there was one industry in Western, I believe does hold the potential to lift at least a million Nigerians out of poverty with far reaching implications for the state, it's the mortgage industry...

Lets take a well paid FG young worker for example... If that person wants to own a home today, they'd need to save for at least 2-5 yrs to buy land. Then they process papers >>> look for an architect to draw a plan >>> pursue approval >>> look for a builder >>> take the next 10 years trying to build an apartment block by block ... All this while, the person is at the mercy of the builder/architect as its not his field. Also, the well established builders are not willing to get bogged down on a single house for years I've seen well earning families struggle for over a decade to build their house. This impacts heavily on their disposable income for things like holidays e.t.c during that time....

Now compare th above to another system where Julius Berger discusses with the government for land title, builds standard apartment with facilities leveraging on the economics of scale, and put these up for sale. That same young civil servant goes to his bank and gets a loan of 75 million at < 3% interest (which he could realistically payup over his career), buys that apartment in a good area with a proper title, pays a little amount monthly (which most times is less than what he'd have paid as rent), has loads of spare cash for other things... With time, if the price of the house appreciates, he could even sell it, pay the bank their loan and have more money to go for a bugger one...

The government benefits with such a streamlined process... Building laws are adhered to, things like ground tax e.t.c are paid, with the right database, the government can target certain groups to support e.g first time buyers can pay little or no tax e.t.c...

Comparing the age-old buying land and building to tge mortgage system is like comparing cocoa pods to its refined components like bournvita, chocolates e.t.c... The mortgage system can be an economic miracle...

But then, the CBN could help in kick-starting that process by encouraging/funding credit rating systems... When you have that, the banks know who they could safely lend to.... The construction companies can then get to work

Excellent submission - but as has been repeatedly stated in various platforms and publications over and over - Nigeria's problem is not that the government doesn't know what to do or knows what to do and is seeking guidance about how to do it. These people virtually live abroad, they see how things work and know how to replicate some of those things here if they really wanted to.

For all this country's deep problems, it doesn't lack competent people. Obasanjo, with all his faults, showed how it could be done - bring in technocrats, leave them to do their job, let them [try to] make Nigeria work, while the golden goose lays eggs for those in power to feed off.

But now, the people in government at all levels simply DO NOT want to govern properly and are just lining their pockets.

6 Likes

Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 9:13pm On Sep 11, 2021
mikeayus:
Hello guys, please i need advise from experienced persons here, my international passport will be expiring by Nov 2022. I want to submit applications to schools for Sept 2022. Is it advisable I submit this soon to expire passport or do I have to renew it first before applying to schools? I just want to be on the safer side. will be awaiting your kind responses. Thanks

You can renew your passport officially 6 months before it expires, in your case in March 2022.
Your visa journey will start way after that if you're going for September 2022 admission, so renew your passport next year and use the new one.
Try not to come to the UK with a soon-to-expire Nigerian passport, the Nigerian HC here is appalling in terms of passport renewal.

1 Like

Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 9:09pm On Sep 11, 2021
ammierie:
Good evening,
My husband recently applied for the UK visa and got rejected.
The documents he submitted were his company CAC certificate and his personal bank statement where he saves money.

Please what do we do moving forward if he’s to re-apply.

21K pounds in savings is a good deal of money.
Put simply, they want to know if this is really his earned money.
The specific request for TCC doesn't mean your husband should go and pay 30k naira for self-assessment to LIRS and include that with his next application - (if you're a 15 million naira kind of guy, your tax liability will be commensurate), they want more evidence to show that your husband is a man who can afford to have 15 million naira lying around in a savings account.
Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 8:57pm On Sep 11, 2021
Uzland:

Hello dear, we're both in the same situation. I've been posting questions regarding the UK Health and Care Worker Visa route here but haven't got any responses.angry It appears this thread may not be the right one for this new visa route.sad
Please let's all join hands and call upon @ Justwise to create a new thread specifically dedicated to the 'UK Skilled Worker Visa / Health and Care Worker Visa'. Thanks.

You could create one if you wanted.

1 Like

Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 6 by Cyberknight: 8:44pm On Sep 11, 2021
TheGuyFromHR:


This makes no sense at all.
So na because of rubbish details of backstabbing boy-girl sexual relationships and how someone snatched your girlfriend that all "Nigerians" should keep to themselves and shun all other human beings in the UK.

HR, this is savage!
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 8:30pm On Sep 11, 2021
LutanFyah:

Solving the issue of insecurity caused by the herdsmen can be done in a couple of months if the president sees it as a problem. Banning Twitter didn't take days, sending soldiers to kill unarmed protesters didn't take months; the president can marshal out the same willpower and urgency in addressing the herdsmen in the language that they understand.

Technology transfer is not a herculean task if we put in the resources to get them. We have brilliant youths who can be trained in a matter of months to operate and service the machines.

We have good brains that can reel out feasible and thoughtful plans to bring food production to fruition. Our brother is in AFDB, our sister is at World trade headquarters and we have good heads inside the country.

We have been copying the west in many things,we can just go to people who have passed through this stage in nation building and copy their templates.


Willpower is just the problem we're facing in this country.

All very true, but what we lack is NOT willpower to do something.
This government certainly has the willpower to do things, the problem is the things it is doing with its willpower are not generally what the country needs (take the energy with which Buhari is pushing RUGA for instance, and turning a blind eye to his kinsmen's activities also requires willpower to ignore the loud cries from the rest of the country).

1 Like

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 3:47pm On Sep 05, 2021
jedisco:


Our problems are hydraheaded like you say, but then it can be solved by starting from somewhere...or at least, not making it worse.

Regarding milk, trust me... If Nestlé wanted to start production here, they'd have done that long ago.... Already, one of the milk companies are doing it.... They buy directly from local farmers at rates much cheaper than international price... In turn, they give the farmers cheaper input and teach them how to milk the cows properly... The farmers no longer have to roam their cattle and make much more than if they sold the milk as fura locally.... Although it was on a small scale, the outcome was promising...

That we have a huge population is our leverage on these companies... If the cost of running their company and selling milk to Nigerians is not too high for them, then the cost of producing such here shouldn't be too high either. Or is their plan to perpetually import from Netherlands?
If not for such policy, by now MTN would still have been importing recharge cards and ShopRite (b4 leaving) would have been importing banana..

The issue is that all our policies resolve around banning this or that without thinking things thru... Most western nations achieve all these by just tweaking with taxation here nd there... Take ulez fees in some major cities for example.

The last macroeconomic policy of the CBN that made sense was them mandating banks to borrow out money by tweaking with the CRR... End result was that banks rapidly dropped their rates and started looking for eligible folks to borrow money... Pity it's not been built on..

The policy was still a silly one because how many people in Nigeria can realistically afford to borrow money at the current high-interest rates. You can't mandate borrowing - the banks know very few people can afford to borrow at 20% or whatever interests rates are now (which business will yield that kind of returns), so they are loath to lend money because they know defaults go plenty, then CBN penalises them for not lending, it's basically insane.

The same CBN keeps interest rates high because it's trying to combat inflation (understandable), so it ends up creating a vicious cycle. The CBN also cut savings interest rates, in an effort to make people "invest in the real economy" by disincentivising leaving money in savings accounts (when people are strongly disinclined to do so in the current economic environment), with the result that as money left in savings accounts was losing value (inflation), many people bought foreign currency to use as a store of value, thus again putting pressure on the naira.

Nothing is adding up.

I'm no fan of the current CBN governor's policies re monetary management, and I fully appreciate that he has very little room for maneouvre considering the current political situation and the red lines (do not devalue the naira, etc.), but the policymaking could be a little more joined up.

1 Like

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 9:07am On Sep 04, 2021
jedisco:


Most countries with currency crises eventually did that... Argentina, Lebanon e.t.c. usually, the dollars in dom accounts are seized and forcefully converted to the local currency at the central bank rate.

CBN doing that will be going against the high and mighty of the society which is why I believe they've not done it.... So far, their interventions have been targeted against the poor or younger folks and they're at a stage where there's not much more they can target and folks are no longer buying their excuses. Fact is the average Nigerian might even welcome such a move and the defence would be to ask what folks are storing dollar for

But with all the little things they've done recently incl the e-naira, they're getting more desperate and running outta ideas... The arbitrage between both rates is now 30%. Sooner or later, CBN will be forced to make a big move which IMO will either be to end the dollar susidy on many items or go for dom accounts.... We already know how the market will react to the second option.

Well said.
Were Nigeria governed with even a fraction of the competence that is available to us, the CBN should have ended this dollar subsidy nonsense long ago. Nigeria's situation is approaching that of Argentina in 2018 - and headline inflation figures are probably massaged anyway - the interesting thing to see will be whether the CBN and the politicians will continue to bleed the country as hitherto. Knowing Nigeria, I'm sure they will.

No amount of patriotism can change that fact.

4 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 8:02am On Sep 01, 2021
Donbrig:
We all know that things are not going smoothly in Nigeria, lots of challenges in every sector. But Nigeria has a way of disappointing those that have always predicted doom on her.

Nigeria's economy just recorded five percent growth in the second quarter of 2021, I am baffled nobody even shared the news here. Lets assume the news was a negative one, or Nigeria slumped into another recession, many would have shared it here without hesitation.

"Those who wants to reap the benefit of this great nation must bear the fatigue of supporting it"

I definitely don't think Nigerians, when they think about it, want doom for Nigeria. As bad as it is, its home.
But Nigeria's rulers definitely want doom for Nigeria, from the way they act irresponsibly and incompetently and Nigerians too appear to want doom for Nigeria, by the way they sit back and watch and support its rulers acting irresponsibly and incompetently.

So ultimately, it is difficult to see anything good happening in Nigeria anytime soon, or any time at all. Good quotes are fine-sounding and all very well, but make no difference to the reality on the ground - Nigerians and the Nigerian government are killing Nigeria.

14 Likes

Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 9:30pm On Jul 26, 2021
Lilly211:
Good morning house

I was going through the group and noticed some people said they got a call from embassy for brief questions (like phone interview) after biometric.

please!!! what are the question they ask ? Please kindly enlighten me. Thanks

If you're interviewed, the questions will obviously most likely address your own specific situation, so these can't be predicted.

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