₦airaland Forum

Wake up, country.

walezay:
EFCC should be number one on the list of agencies making life difficult.
To open a corporate account after registration could take you 2 years due to the EFCC SCUML certificate.
People have complained and complained, no change, only God can deliver us now.

This is one of the big obstacles to small businesses today. In spite of all the complains what has FG done? Businesses that have even less than 250k turnover in a year have had their accounts frozen because of SCUML and there is no end in sight for them to have relief. How can a law to check money laundering be targeting very small companies? Why dont they raise the threshold and also make it possible to get the certificate within a week? Why does government always love to create obstacles, yet you want the companies to pay taxes?

SIR, IT GOES BEYOND MENTIONING NAMES. THE PROBLEM IS SYSTEMIC.

I GIVE YOU ONE INSTANCE. FG ANNOUNCED THEY HAVE APPOINTED AGGREGATORS TO HELP REGISTER NEW COMPANIES FOR FREE. ONE (AND I MEAN ONE) AGGREGATOR WHO IS MOST LIKELY AN INDIVIDUAL IS APPOINTED FOR EACH STATE, INCLUDING LAGOS. IMAGINE THAT.

NOW, TRY AND CALL THE NUMBER PROVIDED FOR THESE AGGREGATORS AND SEE IF YOU WILL EVER GET A RESPONSE!

SO, ON PAPER, FG IS PROVIDING FREE REGISTRATION, BUT IN REALITY WHAT DO YOU SEE?

A TRIAL WILL 'CONFUSE' YOU.

I do not believe he said a thing like this.

I do not believe that this man could say a thing like this.

The repair job should not have taken more than 2 weeks, max 4 weeks.

We need to wake up as a nation.

This is the sort of thing CHINA will complete in 24 hours. Remember they built a large hospital facility in 72 hours (built from scratch and equipped).

Let us stop celebrating our collective mediocrity.

Joe, the difference there is that in America they eat Rice, here in Nigeria the people are fed with grains!

He will soon get another one from West Rosaline University!

XXXXTENTACION:
CONSPIRACY THEORISTS OVER TO YOU GUYS



Righteousness89 will soon tell us that the anti-christ has been born. and that strange things are going to happening.



Conspiracy theorists will soon tell us how Bill Gates will use this baby to create vaccine then come and inject africans with the mark of the beast.


But in all these strage things have been happening and strange...

Antibody is no a vaccine. It is not produced by any lab. That is why it called antibody.

Nigeria needs to open a register that will be called HALL OF SHAME for politicians. Some people are already contending to rank Number 1 on that register.

Coldie:
There's nothing special about the uk, the uk is over rated.

Gimme #10billion I would never step foot on the uk.

Nigeria has 36 states plus the fct almost all the states get sth, the only difference between uk and Nigeria is cold weather and to be seeing white people nothing again.

#10billion too big gimme #5billion I no go even go usa .

I don't support the killing, but if not for hustle Nigeria is much more better than alot of developed countries

Ignorance is not good.

Please Please Please!

Shop-owners on Ogunsanya are trying to move their things and clean up.

They do not need harrasments on top of the trauma they already have!

Please. Please.

Genuine merchandise owners should be allowed to move freely without harrasments please.

Many congratulations.

Good news on a Monday morning.

Away from all the turbulence in the land.

May you succeed greatly on the job in Jesus name. Amen.

protests:
as a compensation for lost of lives, ...

At this point Jack died.

Can you imagine that?

Goes to show that our youths are tired of how this country and the way it is governed. It is not just about SARS.

pathetic.

kettle is calling pot black.

house, remove the spec in your own eyes

your excess salary is a million times worse than the peanuts the banks are charging

reduce your salaries and then the banks too will reduce their charges

Governor Fasola is right.

Please tell your fellow politicians in the executive and in the assembly to follow suit and execute devolution of power immediately.

Stop enacting laws centrally.

Dissolve and cancel federal house of reps.

Let states collect and use VAT.

Allocate 80% of federal revenue to states and local government.

Turn Aso Rock into a teaching hospital.

Move the presidential lodge to a house not bigger than 10 Downing street.

Scrap all unnecessary federal offices.

Nigeria may break up.

It has been cracked!

By wicked politicians.

Over the years.

And especially in the last few years.

It is probably meant to be a souvenir to remind you of those days when Naira was Naira, before the politicians came to dabaru everything.

Wow! 50pct increase in VAT still no money to send ambassadors out. What are we using our funds for?

IamWonderful:
Divinely anointed awaiting president

Amen.

A man who has been governor for 8 years and the one who would have been VP (inside Aso Rock) for 8 years, by God's grace - Please who is more experienced?

Reference:
What is 'we' earn. Who is the 'we'. I earn foreign exchange and have to give it to the CBN by law at a loss (because buying it back is at their discretion). Float the naira and it won't matter who owns the forex and it will certainly encourage everyone to quest for external trade, external investment and decrease the desire for foreign accounts and dollar hoarding.

In what areas do we have comparative advantage? Even with primary produce like Cocoa, Cashew, Ginger, Nigeria is seen as a last resort. I know that for a fact. Buyers will mop up Cashew from small Guinea, Ivory Coast, before they touch Nigeria. Quality, processes, etc are not trusted. On finished products it is next to ZERO. Now, people are exporting KuliKuli, Milo, Maltina, garri. Apart from Nigerians outside, who will buy these? All the value is what - less than 1million dollars. Serious countries do not call that export!

Nigeria's earnings go far beyond some of those things you thought I was referring to. The billions remitted by Nigerians living abroad. The billions collected as dues on ships entering Nigeria. The billions earned from sale of crude. Those are the 'we'. I can go on. The fact is that a free-fall will not necessarily improve our earnings in these sectors. Imports will drop, so will the earnings on trade related forex. Remittances may not increase, because the supply side has not changed. Crude oil revenues may not go up because supply is capped by OPEC. How will a free fall suddenly improve export?

I am glad you mentioned that you export. Are the processes encouraging to you? Try to scale up and see how the system will charge against you!
By the way, the major exporters in Nigeria today are Asian companies. They have their own use of forex and may not really mind a really bad Naira.

I totally agree with you that if you earn dollars, you should not be forced to sell to CBN. Its your earning. It should just sit in your dollar account.

Closing, until the country blocks the holes and leakages (and we dont even know how big they are), toying with free-float could lead to an uncontrollable regime like they had in Sudan and Zimbabwe.

dacool1:
You seem to understand economics, most people supporting the free float of the naira are not facing the reality on ground.
Just check the price of kerosene and diesel then you will understand even the so called premium gas is not as expensive as those two listed up there just because regulations have been removed, there are economic whales that would control the exchange rate in a country like ours.
I think what should first happen is that the regime of multiple exchange rates in the country should be abolished it favors only the elites.
The truth is as long as we import most things there will always be excess demand. Thus the price will continue to go up.
Let them first put in place mechanisms that would absorb the events that will result to excess demand for forex.
Asides that most developing nations don't float their currencies that's just the blunt truth, some developed countries too such as UAE, Saudi, Hong Kong, even almighty China didn't float her currency.
Las Las na the rich people e go favor, abegi make dem no float anything, even when dem dey defend am na up e dey go.

Thank you. Some economists always want to compare us with countries where systems work. In Nigeria, it is not the same. here, people loot so much and store their loot in dollars. If you free-float the naira, they will not mind. The few dollars we earn will end up in their roofs and they will have 24x7x365 Police protection. Business will suffer as a result and poverty will multiply.

AmigoDeDon:
End of Naira

No doubt that will spell the end of the Naira. This is asking Nigeria to go the way of Zimbabwe. The currency will just become useless.

For the avoidance of doubt, Naira is actually currently under-valued! What kills the value is not just over-reliance on imports but the fact that looters prefer to store their money in hard currency, as they wait for an election that is 3 years away. It was discovered at a time that any time FAAC was shared price of dollar will instantly go up. Why? - The answer should be obvious.

There is a demand for USD as a store of LOOT. The economy has not been factoring this in. There was this ex-NNPC chief who had close to 10 million dollars in a village house! There was the other 144million USD cash found in a house in Ikoyi. Do we know how many other such 'dollar stores' are not found?

Oga Kingsley, with all due respect, your suggestion will destroy the economy. There is no sane country where you buy forex on the street without documentation. The politicians will not make a law to prohibit holding dollars outside the banking sector, because that law will affect them the most.

As a country, we are yet to start - and right now we are a laughing stock, to the extent that a British leader once said that our country is fantastically corrupt.

NaijaMutant:
Curse be upon any one who voted for Buhari

Who should they have voted for?

No wise woman will marry such a man!

There are sinister motives behind this move. Nigerians should stop hailing one-sided regulations.

Who recorded the video?

How much lower can Nigeria get?

Shame.

The cup has been awarded to City

Too many acts of lawlessness going on in Nigeria seemingly.