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Deen4real7902's Posts

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TV/MoviesRe: What Series Are You Watching Now? Part 2 by deen4real7902: 8:26am On Dec 28, 2018
Marvel1206:
Try Tom Clancy's Jack ryan, the last ship.. I like them

Condor and Bodyguard also have an underlying pattern. You can check their first 2 episodes and see if you can continue.

They are available on toxicwap for average quality. Fztvseries for low quality and tfpdl for 480 to 720p
I've seen all these, not interesting compared to breaking bad
TV/MoviesRe: What Series Are You Watching Now? Part 2 by deen4real7902: 5:41am On Dec 28, 2018
Marvel1206:
To me, it's one word:


Boring
You are really missing, one of the best film ever, you just have to be patient in the 1st season, it's as interesting like 24, prison break, One tree hill, suit, money heist, arrow.....
PoliticsRe: Why Can't We All Vote For A New Presidential Candidate Instead Of APC And PDP? by deen4real7902(op): 5:34pm On Dec 05, 2018
onubijoe:
whom do you think is capable apart from Atiku ?
Abeg talk of another person jare, is he not there for 8 years, far from capable
PoliticsWhy Can't We All Vote For A New Presidential Candidate Instead Of APC And PDP? by deen4real7902(op): 3:43pm On Dec 05, 2018
Why is almost all Nigerians talking about Buhari and Atiku alone. Fact is Buhari regime is not good and Atiku is no go area, so why can't we all think and decide to vote for another person different from this two parties?
TV/MoviesRe: What Series Are You Watching Now? Part 2 by deen4real7902: 3:01am On Oct 20, 2018
EmmGee:
man with a plan.

I honestly don't know how to watch shows hat aren't comedy.

i have into the badlands 1-3
daredevil 1-2
La casa de papel

but honestly i keep on rewatching my comedy collection
Please give me three names of your best comedy show, thanks
PoliticsRe: NCAN Buys Nomination Form For president Muhammad Buhari by deen4real7902:
NCAN means The Nigerian Consolidation Ambassadors Network
PoliticsRe: 2019: Do You Have Your PVCs? by deen4real7902: 2:18pm On Aug 13, 2018
megareal:
INEC permits one to do a transfer. That way you can choose a polling unit close to you.

No take style give yaself public holiday on election day. tongue
The transfer we did since like 5months ago, we are yet to hear anything about it
TV/MoviesRe: What Series Are You Watching Now? Part 2 by deen4real7902: 3:00pm On Jul 31, 2018
Please where can i download money heist with subtitle
IslamRe: Is Bank And Cooperative Loans Haram Or Halal? by deen4real7902: 10:24am On Apr 07, 2017
He wants to take out a loan with interest to set up a business that will benefit poor Muslims

Im involved in the initiation and coordination of an international based trade amongst different parties, whereby the funding is to be financed by a bank charging interest. The apparent material benefit is collossal to the poor Muslims if it succeeds. Is it halal for me to do so.

Published Date: 2017-03-07

Praise be to Allah

Dealing with interest is a major sin, concerning which there is a stern warning and threat to the one who does that.

Allah, may He be exalted, says (interpretation of the meaning):

“O you who believe! Fear Allah and give up what remains (due to you) from Ribaa (from now onward) if you are (really) believers.

And if you do not do it, then take a notice of war from Allah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums)”

[al-Baqarah 2:278-279].

And Allah, may He be exalted, says (interpretation of the meaning):

”Those who consume Riba will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaytaan (Satan) leading him to insanity. That is because they say: ‘Trading is only like Riba,’ whereas Allah has permitted trading and forbidden Riba. So whosoever receives an admonition from his Lord and stops consuming Riba, shall not be punished for the past; his case is for Allah (to judge); but whoever returns (to Riba), such are the dwellers of the Fire — they will abide therein.

Allah will destroy Riba and will give increase for Sadaqaat (deeds of charity, alms). And Allah likes not the disbelievers, sinners.”

[al-Baqarah 2:275-276].

Muslim (1598) narrated that Jaabir (may Allah be pleased with him) said: The Messenger of Allah (blessings and peace of Allah be upon him) cursed the one who consumes riba and the one who pays it, the one who writes it down and the two who witness it, and he said: they are all the same.

So it is not permissible for the Muslim to take out a loan with interest and oppose Allah, may He be glorified and exalted, even if that loan is for the purpose of doing a righteous deed, such as building a mosque or a school for memorisation of Qur’an, or to help the poor and needy, and the like. For Allah is Good and does not accept anything but that which is good.

Riba is one of the gravest of prohibited things, so it is not permissible for a Muslim to take the matter lightly or to do it, whether that is for the purpose of helping poor Muslims or any other cause.

Ibn al-Qayyim said: The prohibition on Riba an-Nasee’ah [which means that the amount of debt is increased when the debtor is unable to pay off the debt at the appointed time and requests extra time in which to pay it off] comes under the heading of prohibition of ends that are in and of themselves haraam; the prohibition on riba al-fadl [which refers to when similar commodities are exchanged unequally, such as one measure of dates for two measures of a different quality of dates] comes under the heading of prohibition of means. Hence no kind of riba an-nasee’ah is permitted. See: I‘laam al-Muwaqqi‘een (2/107).

Riba an-nasee’ah is the basis on which banks operate (lending with interest).

Seeking to do good and righteous deeds, and to bring relief to the poor and needy, cannot be achieved by indulging in sin and evil. A small amount of blessed and halaal trade is better than a great deal of riba that is subject to destruction. Allah, may He be exalted, says (interpretation of the meaning):

“Allah will destroy Riba”

[al-Baqarah 2:276].

It was narrated in Musnad al-Imam Ahmad (3672) from Ibn Mas‘ood (may Allah be pleased with him) from the Prophet (blessings and peace of Allah be upon him): “And no person who acquires wealth from haraam sources and spends from it will be blessed in it, and if he gives it in charity it will not be accepted from him, and if he leaves it behind, it will be his provision on his journey to Hell. Allah, may He be glorified and exalted, does not erase a bad deed by means of another bad deed; rather He erases bad deeds by means of good deeds. Evil does not erase evil.”

Classed as saheeh by ar-Daaraqutni in a mawqoof report. See Haashiyat Tahqeeq al-Musnad, ar-Risaalah edn. (6/189).

The scholars of the Standing Committee for Issuing Fatwas were asked: there is a man who has some money, and he wants to put it in a bank. He knows that the bank will give him some interest, but he is aware that this extra money is riba and is haraam. If he leaves it, the bank will take it and make use of this riba. Is it permissible for him to take the riba and give it to some poor families without seeking any reward, only so that the families will benefit from this money, because they are in urgent need of money, and that would be instead of the bank making use of it?

Answer:

It is not permissible to put money in riba-based banks with the aim of taking the interest, no matter for what purpose, because Allah has prohibited riba and has issued a stern warning against it, and the Prophet (blessings and peace of Allah be upon him) cursed the one who consumes it, the one who pays it, the two who witness it and the one who writes it down. So it is not permissible to take it with the intention of giving it in charity, because it is evil and haraam earnings, and Allah is Good and does not accept anything but that which is good.

End quote from Fataawa al-Lajnah ad-Daa’imah, 13/355.

And Allah knows best.

https://islamqa.info/en/249071
AutosRe: Challenges I Faced After Buying A Car From Cityhood Dada Motors by deen4real7902(op): 2:22pm On Jan 09, 2017
After spending 350k, the car is back to normal (for now)
Car TalkRe: Acceleration Problem With BMW X5 3.0 2003 by deen4real7902(op): 2:17pm On Jan 09, 2017
And like how much will it cost to replace a catalyst for BMW x5 3.0i 2003?
Car TalkRe: Acceleration Problem With BMW X5 3.0 2003 by deen4real7902(op): 7:13am On Jan 08, 2017
Thanks, it has been solved, the fault is from the catalyst, panel beater people corrected it.
AutosRe: Challenges I Faced After Buying A Car From Cityhood Dada Motors by deen4real7902(op): 7:35pm On Jan 01, 2017
uboma:
I checked his adverts on efritin.com
I will notify the Admin of efritin.com about the shady deals of Cityhood.
Is Cityhood on Facebook? if yes, posting links of clients he has defrauded will go a long way to alert unsuspecting future clients.


can a Facebook user please check if this page belongs to Cityhood,


https://m.facebook.com/dadamotorsthegroup/
https://m.facebook.com/olawale.j.dada?fref=ts
Car TalkAcceleration Problem With BMW X5 3.0 2003 by deen4real7902(op): 7:25am On Jan 01, 2017
My BMW is not picking up, the acceleration very slow, even if it picked up, it can't accelerate more than 60km/h. When it was diagnosed, it's showing throttle issue, it has been serviced, changed the fuel pump, change the throttle but it is still giving same problem. Please any expert or idea to help resolve this?
AutosRe: Cityhood Of Dada Motors Won't Refund Me After Delivering A Dead SUV by deen4real7902: 9:59am On Dec 29, 2016
crestedaguiyi:
there is more to this citihood guy that is yet to be exposed .

he has his contacts
how sells used car as tokunboh
he gives custom paper for a car that had been registered and used in naija(how that happens is still been checked)

he lies about the car he is selling most times in year of manufacture

he uses a fake plate to deliver cars

he uses a mechanic named mohammed and one other guy

he was in Lagos before moving to zaria(only God knows why)

he has a clique many of whom are on nairaland
Please o, he sold mine as tokunbo, but my mechanic said it as been used seriously, repaired seriously like Nigeria used, how can i check if it is still tokunbo o?
AutosRe: Challenges I Faced After Buying A Car From Cityhood Dada Motors by deen4real7902(op): 6:47am On Dec 29, 2016
MARKone:
Lol @ he is trustworthy in delivering cars, but not at telling the conditions of the cars he is delivering. Me I have serious trust issues, I don't commit huge money to what I won't physically inspect. I hate lairs, and the cityhood guy has turned out to be a great lair, lesson for everyone. Op, I don't know why you guys are coming out now. If you have raised alarm earlier enuf, u would have have saved others from loosing their hard earn money.
I just bought mine like a week ago na and I'm still working on the repairs presently. Lesson learnt is that never buy a car without inspecting it 1st, especially online cars.
AutosChallenges I Faced After Buying A Car From Cityhood Dada Motors by deen4real7902(op):
See this link nairalanders https://www.nairaland.com/3189716/toks-x5-s.u.v
08169446319
Suv situated in the northern part of Nigeria
Leather seat
Automatic drive
Air condition working very fine
Alloy rims with all new tyres
In buy and drive condition
1.780
I bought a car like this from him.
Note mine is foreign used and not Nigeria used
We agreed on a price and paid for the car on December 20, 2016,thats like one week ago. Cityhood is trustworthy in delivering your car but not trustworthy when it comes to telling you the condition of the car. I have presently spent 120k for the repair of the vehicle, will still go there to spend more tomorrow.
Cityhood told me I'm buying 2005 model, but when my automedics mechanic checked it with their machine, the year of production shows November/2002.
Cityhood said the car is in buy and drive condition which is true but the issue when you press the turtle fully, it can not go more than 60km/hr, (meaning that Usain bolt can even run more than the car). I have spent 120k on that now alone still waiting for the results tomorrow, and don't say the mechanic does not know what he's doing because I'm using the best, an automedics, he works with BMW franchise in Nigeria (coscharis abi wethin be there name).
Cityhood told me ac is chilling, when they brought the car to me, I told him the ac is not working, cityhood said probably the mechanic driver used it finish that I just need to gas it with 2000naira. Today the AC guy came to check it and told me for the ac to work, the compressor and two other things need to be changed which will cost me 40k to repair it.
No time for the AC yet, still battling with the acceleration problem of the car. When I'm through with that will then do the AC issue, after that will give the rewire guys because the dash board displays are not working, I don't know how much that will cost me yet. Practically will have to spend like 200k extra for a Buy And Drive Car.
Also before the car was brought to me I gave Mr Dada cityhood 40,000 to help me install DVD reverse camera in it, it was installed But it not working, just blank , when i told him he said probably its because of the long distance journey, but till now it's not working.
The most painful thing is I begged him that this is my 1st car that he should recommend any of his car he has with him that will not give me any issue.
How i wish this post was created before i bought from him cry
https://www.nairaland.com/3538667/cityhood-dada-motors-wont-refund
AutosRe: Cityhood Of Dada Motors Won't Refund Me After Delivering A Dead SUV by deen4real7902:
See this link nairalanders https://www.nairaland.com/3189716/toks-x5-s.u.v
08169446319
Suv situated in the northern part of Nigeria
Leather seat
Automatic drive
Air condition working very fine
Alloy rims with all new tyres
In buy and drive condition
1.780
I bought a car like this from him.
Note mine is foreign used and not Nigeria used
We agreed on a price and paid for the car on December 20, 2016,thats like one week ago. Cityhood is trustworthy in delivering your car but not trustworthy when it comes to telling you the condition of the car. I have presently spent 120k for the repair of the vehicle, will still go there to spend more tomorrow.
Cityhood told me I'm buying 2005 model, but when my automedics mechanic checked it with their machine, the year of production shows November/2002.
Cityhood said the car is in buy and drive condition which is true but the issue when you press the turtle fully, it can not go more than 60km/hr, (meaning that Usain bolt can even run more than the car). I have spent 120k on that now alone still waiting for the results tomorrow, and don't say the mechanic does not know what he's doing because I'm using the best, an automedics, he works with BMW franchise in Nigeria (coscharis abi wethin be there name).
Cityhood told me ac is chilling, when they brought the car to me, I told him the ac is not working, cityhood said probably the mechanic driver used it finish that I just need to gas it with 2000naira. Today the AC guy came to check it and told me for the ac to work, the condenser and two other things need to be changed which will cost me 40k to repair it.
No time for the AC yet, still battling with the acceleration problem of the car. When I'm through with that will then do the AC issue, after that will give the rewire guys because the dash board so on not working, I don't know how much that will cost me yet. Practically will have to spend like 200k extra for a Buy And Drive Car.
Also before the car was brought to me I gave Mr Dada cityhood 40,000 to help me install DVD reverse camera in it, it was installed But it not working, just blank , when i told him he said probably its because of the long distance journey, but till now it's not working.
The most painful thing is I begged him that this is my 1st car that he should recommend any of his car he has with him that will not give me any issue.
How i wish you have created this post before i bought from him cry
AutosRe: Neat Pimped Lexus RX 300 For Xmas by deen4real7902: 6:50pm On Dec 18, 2016
What's the model year and present mileage?
AutosRe: Very Clean R.x 300 For Sale 1.450 by deen4real7902: 6:47pm On Dec 18, 2016
What's the model year and present mileage?
AdvertsRe: CALL FOR ALL YOUR CLEARING JOBS VIA TINCAN ISLAND AND APAPA by deen4real7902: 4:51pm On Dec 17, 2016
How much to clear Toyota Rav4 2005 ?
AutosRe: Buy Cars from Cotonou without stress and your car(s) will be delivered 48 hours by deen4real7902: 2:31pm On Dec 17, 2016
What of Rav4 2005?
AutosRe: Registered Rav4 1.250 by deen4real7902: 7:51pm On Dec 16, 2016
What's the model year and present mileage?
AutosRe: Very Clean Hyundai Santa Fe 03, Tokunbo by deen4real7902: 3:18pm On Dec 12, 2016
Hello, can it go for 1m?
SportsRe: Nigerian Fans Don’t Ask Me For Autographs, They Ask For Boots, Money." - Iwobi by deen4real7902(op): 4:36pm On Dec 09, 2016
for this recession, even if he give me the boot sef, na to sell am grin grin grin grin grin
SportsNigerian Fans Don’t Ask Me For Autographs, They Ask For Boots, Money." - Iwobi by deen4real7902(op): 4:25pm On Dec 09, 2016
The Arsenal youngster explains to goal.com how Super Eagles fans are much louder than Premier League supporters and describes the crazy scenes on his debut

Arsenal forward Alex Iwobi says he's treated "like a king" in Nigeria having pledged his international future to the country.

Iwobi, 20, grew up in England after moving to the country from Lagos, Nigeria, when he was four years old.

Even though he played for England's Under-16s, Under-17s and Under-18s, Iwobi swapped his allegiance to the Super Eagles in 2015 and has gone on to make seven appearances so far.

'I'm treated like a king!' - Iwobi loving Nigeria fan adoration

Iwobi was shocked by his reception when he arrived to play for Nigeria and says supporters in the African country are more likely to ask for football boots and money, rather than autographs.

"Everyone appreciates you [in Nigeria], you’re almost like a king!" he told the Guardian . "When I arrived at the airport I thought, I’ll just have my earphones in, but everyone was like ‘Iwobi! Iwobi!’ Oh gosh. Hi guys!

"I didn’t know what to expect. It was just mad. I always go with Kelechi Iheanacho. When we go we get escorted. Because I’m not used to the Nigerian culture as much as they are, they do help me with it.

"I can’t really speak the language that well. They help me with the fans. The fans are very different there. They don’t ask me for autographs, they ask for boots, money."


Iwobi described the crazy scenes on his Nigeria debut and suggested fans in the country of his birth are much noisier within grounds than their Premier League counterparts.

“At my debut we played in a stadium that holds 30,000 and there was 60,000 – I don’t understand how. People were standing on the floodlights, on the scoreboard," he added. "I was thinking, ‘What? This isn’t even safe!’

"But people there will do anything to watch the match. Sometimes in a Premier League game the fans are a bit quiet but in Nigeria you just hear trumpets, everything. The atmosphere is so different compared to England.”

Iwobi, who's scored one goal and assisted three in 2016-17, is competing for a place in Arsene Wenger's starting XI to face Stoke City on Saturday.

He won't take part in the upcoming Africa Cup of Nations as Nigeria failed to qualify for the tournament.

Source: http://newsnews.com.ng/nigerian-fans-dont-ask-me-for-autographs-they-ask-for-boots-money-alex-iwobi/

PoliticsRe: Ambode Transforms Ketu-Alapere Expressway (Photos) by deen4real7902: 6:10am On Sep 19, 2016
devilmaycry:
what is good about this news ? Tell me how this stuff has improved our economy?..or we are going to eat a fine road ? Or are we going to sleep on it ? If you know the amount of money going in for construction of road,u get this and start applauding like its not his job....we DNt want this change my brother...until this supposed fine road put Food on my table...am not celebrating it
You are soooo daft
Christianity EtcRe: Is It Right For A Christian To Eat The Moslem Ram During This Celebration? by deen4real7902: 11:31pm On Sep 11, 2016
ajisebioyo1:
Muslims claim they eat with Christians during Christmas, while Christians also claim it is good to eat with Muslim's during salah. But the fact I want us ( Christians) to understand is that the motive behind the killing of rams during salah is totally different from killing chickens or cows at Christmas. Christmas is just for celebration which is not even biblical, as a Christian, you can kill anything or even buy processed foods for Xmas celebration, also it is not enforced on Christians neither there is attached blessings to dinning with friends during Xmas. But in Islam killing of ram is compulsory. However killing of ram is believed to wipe away sins and to seek for Allah's mercy. Then why eating such meat. For me I can't eat salah's ram but I can eat with them in other festivals
Quran 22: VS 36 and 37
VS 36: And the camels and cattle We have appointed for you as among the symbols of Allah ; for you therein is good. So mention the name of Allah upon them when lined up [for sacrifice]; and when they are [lifeless] on their sides, then eat from them and feed the needy and the beggar. Thus have We subjected them to you that you may be grateful.

VS 37 Their meat will not reach Allah , nor will their blood, but what reaches Him is piety from you. Thus have We subjected them to you that you may glorify Allah for that [to] which He has guided you; and give good tidings to the doers of good.
Christianity EtcRe: Is It Right For A Christian To Eat The Moslem Ram During This Celebration? by deen4real7902: 11:10pm On Sep 11, 2016
hanity:
Thanks for that Bro
Quran 22: VS 36 and 37
VS 36: And the camels and cattle We have appointed for you as among the symbols of Allah ; for you therein is good. So mention the name of Allah upon them when lined up [for sacrifice]; and when they are [lifeless] on their sides, then eat from them and feed the needy and the beggar. Thus have We subjected them to you that you may be grateful.

VS 37 Their meat will not reach Allah , nor will their blood, but what reaches Him is piety from you. Thus have We subjected them to you that you may glorify Allah for that [to] which He has guided you; and give good tidings to the doers of good.
Christianity EtcRe: Is It Right For A Christian To Eat The Moslem Ram During This Celebration? by deen4real7902: 11:08pm On Sep 11, 2016
FriendChoice:
Hypocrite, read the VS 36 before VS 37
Quran 22: VS 36 and 37
VS 36: And the camels and cattle We have appointed for you as among the symbols of Allah ; for you therein is good. So mention the name of Allah upon them when lined up [for sacrifice]; and when they are [lifeless] on their sides, then eat from them and feed the needy and the beggar. Thus have We subjected them to you that you may be grateful.

VS 37 Their meat will not reach Allah , nor will their blood, but what reaches Him is piety from you. Thus have We subjected them to you that you may glorify Allah for that [to] which He has guided you; and give good tidings to the doers of good.

Their meat will not reach Allah , nor will their blood, but what reaches Him is piety from you. Thus have We subjected them to you that you may glorify Allah for that [to] which He has guided you; and give good tidings to the doers of good [Quran 22: 37]
BusinessFive Ways Naira Flotation Will Affect Nigeria by deen4real7902(op): 7:11am On Jun 21, 2016
Nigeria is allowing its struggling currency, the naira, to trade freely in a move to tackle the financial crisis in Africa’s most populous nation. Financial blogger Feyi Fawehinmi looks at how it will affect people’s lives.

1. Petrol prices will remain stable

Refined petrol is Nigeria’s single biggest import. The story of how an oil exporting nation has to import almost all of its refined products is well told.

According to the National Bureau of Statistics, refined petrol imports in the first three months of 2016 amounted to 226bn naira ($1.1bn; £791m) or 15.6% of total imports.

Last month, petrol subsidies were removed and a new price band of 130 naira to 145 naira per litre was recommended by the government.

Remarkably, Nigerians took this price rise with no more than a shrug and the attempt by labour unions to force a price reversal with strikes flopped spectacularly.

In the short term, the Central Bank of Nigeria (CBN) is likely to continue to be the main supplier of dollars to the market until foreign investors return.

With one eye on the petrol price, it is likely to kick start the market at a rate that keeps petrol prices stable ie somewhere below 285 naira to $1.

2. Still no imported tomatoes, rice or tooth picks – officially, at least

In June last year, the CBN came up with a now infamous list of 41 imported items that would no longer be eligible for foreign exchange from official sources.

The CBN said last week that importers of those 41 items will still not be able get foreign exchange for them on the official market.

In other words, you can still import toothpicks but you will have to buy dollars from the black market to do so.

Based on this, prices of those items are unlikely to be affected. This is a shame because Nigeria could do with some tomato imports right now after the tuta absoluta pest devastated harvests in northern Nigeria.

Rice importation has always worked on a quota system – those with political connections usually getting the right to import it. The current policy restricting the imports is tied to goals of national pride in achieving self-sufficiency. Given this, it is unlikely to be lifted.

Not everyone is unhappy about this list, though.

The Nigerian palm oil producing company, Okomu Oil, posted a 98% increase in profits for 2015. Palm oil is of course on the list of 41 ineligible items and so Okumu has faced less foreign competition for its produce.

3. Inflation should eventually fall

Latest figures from the National Bureau of Statistics show that inflation is rising steadily in Nigeria. Given how Nigeria is dependent on imports for a lot of basic items, a floating currency – which is expected to lead to a devaluation – is likely to further increase prices, at least in the short-term.

In reality, however, the policy of rationing foreign exchange in the last year meant that those who needed it the most hardly ever got it from official sources.

Nigerians have already endured the equivalent of a gut punch from soaring prices and are unlikely to be in the mood for any more.

Further price increases might just force consumers to eliminate demand for some products altogether. A more stable and open foreign exchange regime should also eliminate a lot of the uncertainty that has been pushing up prices.

Given what has already happened in the last year, a floating naira, somewhat counter-intuitively, can be expected to start bringing down inflation.

4. Bad news for banks and businesses with forex loans

The CBN says that 10.1% of all the loans in Nigeria’s banking system have gone bad – in other words they will never be repaid. A lot of these loans were made in foreign currency and given to local oil and gas companies when crude oil prices were $100 per barrel.

Between 2012 and 2014, an estimated $10bn was lent to local oil companies to purchase assets from foreign oil conglomerates.

A couple of weeks ago, the Nigerian government bizarrely asked banks to stop sacking workers. More bad loans will almost certainly trigger more sackings.

It remains to be seen how the government will react to these if and when they happen. Or perhaps the banks will use it as a bargaining tool to extract another round of bailouts from the government.

5. Foreign airlines could resume flights

Another effect of rationing foreign currency in the past year has been that there was a backlog of unmet demand for foreign exchange steadily building up.

The CBN says this backlog is now at $4bn and will take four weeks to clear. Others say it is at least double that amount.

Included in that backlog is the $600m owed to foreign airlines which has caused a number of them to either stop serving Nigeria entirely or put the route under review.

If nothing else, this has been embarrassing for Nigeria and has drawn unflattering comparisons with Venezuela. Once the backlog is cleared, foreign airlines should continue their business as normal.

Of course, trapped funds are not their only worry – the economic situation has done its bit to dampen demand for foreign travel by Nigerians. Still, solving one of two problems is not a bad deal.

The verdict?

Ultimately, Nigerians have reason to hope that the worst of the last year is now over.

With a floating exchange rate, foreign investors can have more confidence in the country and Nigeria should see an uptick in the foreign investments it so desperately needs.

Source: http://newsnews.com.ng/five-ways-naira-flotation-will-affect-nigeria/

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