₦airaland Forum

Instead of waiting for the beauty pageant largesse why don't you complete your education and be gain fully employed or otherwise learn some vocational skills and be an employer of labour.

Intelligence not beauty nor big breast nor big backside is the new sexy.

signature2012:
Eliminate BDC from the country and see the Naira appreciate.

Spot on. The BDCs are the ones causing all the havoc. It's really funny how the dollar went on a downward spiral when CBN only sold dollars to banks around two weeks ago.

The same BDCs were crying and CBN decided to sell 10k dollars to each BDC at the same rate they sell to banks and gbam dollars starts to increase against the naira!

My take is only the IMTOs and banks should be allowed to trade dollar and for those of you castigating the banks, know that banks are required to publish their dollar sales weekly so we all know who gets what and any perceived is severely punished by the CBN. BDCs on the other hand don't do same.

One day we will get out of all this wahala.

God bless Nigeria, the only country where the laws of demand and supply work in reverse order.

LordAdam16:
Madam, the CBN knows the party is ending. They don't want a replay of 28/02/17 to 08/03/17 to occur. So, they're giving early indications that they are still on the offensive.

I wouldn't pass it off completely as hogwash. Who the gods want to destroy they first make mad.

But what I sense is panic on the part of Okarofor, the CBN, and the FG. Unlike in the early days of this month when they started their second round of intervention, the oil price was rising, currency reserve was rising, and speculators still had lots of dollars in hand.

Now, the oil price have fallen, currency reserve is falling, and speculators have reduced their exposure in a big way. Seriously, speculators wouldn't make big losses now. They'd solely be eating up every cheap dollars they can lay their hands on.

If the CBN wants to, they can inject $1.5b to reduce the parallel rate to N305/$1. We all know they can't go lower, and as they've said, that's their target. This is the first time they've actually made that known in public. However, if they wanted to reduce it further, IMTO's will cease sending money to Nigeria. Investors will scream blue murder. Foreign remittance will stop increasing. The pressure on the foreign reserve will increase multiple fold. And FDI will halt completely (not that anything was coming in anyway).

When parallel rate appreciates to N305/$1 and there's no where else to go. There'd be only one direction for the rate to go. The fall will be the biggest fall in recent history.

I can't wait.

It's clear that the CBN and FG are masochists. And Nigerians wouldn't get pity, because it appears they too want to listen to blues.

-Lord

You sound really pained? Or are you one of those speculators hoarding dollars? My advice will be to sell now because I can tell you without fear of doubt that the mandate is to really bring the price down to 305

The truth is CBN has basically demonstrated that the so called demand for dollar is speculative.

On the fiip side, foreign investors won't be happy because they now have to spend more dollars to get naira despite the huge returns they get from their Nigerian investments.

I hear that the plan is to keep the market depressed till Dangot's refinery comes on board around end of 2017 circa start of 2018.m

Don't also forget the Diaspora Bond sold recently which was over subscribed so the CBN has enough dollar cash to play around with for now.

On a lighter note why hasn't the prices of essentials gone down?

How many times are they going to inspect the airport?

Meanwhile there are basic decay in infrastructure there that is crying for attention and yet nobody is doing anything about it

First the VP, then Saraki and his cohorts, then Fashola, Amaechi even took a train from abuja just to come and inspect the same airport. Then add the list of jobless governors and now Mr Lai!

God help us!

I can't see any children in all the pics posted. All i see are some grown men an women with some of the women wearing too much make up. Unless I am missing something.

On a more serious note, there seemss to be a proliferation of these NGOS all claiming to fight for under privileged children yet we are not seeing any results despite huge financial patronage from donor agencies and likes

I guess it's is safe to add this line of business to one of the quickest ways to "hammmer" in naija along side running a church, politics, ponzi schemes and writing a tell it all book about your ex.........am out!

slurryeye:
You spent 130 million in a month? Clap for yourself mumu
In that same country, some people are dying of hunger because they couldn't afford 50 naira to eat. And this one is happy that he blew away 130 million. Why do we black people have no empathy for the poor ones?

He said he spent 130m in a month. He didn't say he spent it on drinks. People should learn to read and comprehend.

What a lot don't know about davido and his family business is that behind all the gra gra and bling bling is a well structured and oiled, legit and properly managed money making machine. I am sure a lot don't know that the adeleke's own about 30percent of the freehold land in Banana Island.

Beer Parlour proposal. How romantic!

All the best!

Statsocial:
Well, organizations that aim to recruit only first class graduates do themselves a disservice. Having a firstclass is just a statement of academic excellence and nothing else. When you admit them into research institutions, academia or research laboratories they tend to do well because the kind of conditions that exist in those work 'climate' favors their kind of thought processes. Sometimes the strength of a first class grad is his weakness. Though I think ur tag of private unis isn't fair as I have seen public universities first class graduates whom I cannot recommend for employment. But the problem is employers assumption that academic excellence is a statement on Integrity, Perseverance, Optimism, Ingenuity, Courage, Loyalty, Accountability or creativity but they tend to find out sooner or later, but instead of blaming their selection process they turn on the University or the First class value itself. I did not graduate from CU with a first class, neither was i ever close to being on a First class by a wide margin but i recognize my strength and my abilities and i know for a fact that when it comes to my strengths i can stand shoulder to shoulder with any first class graduate from my school. However i can vouch that any first class conferred by my school is a very legit representation of the persons knowledge base but nothing else. So if you want the best for your organization, then open up ur processes to include people from public universities and other different grades(even up till 3rd class) and then set up new criteria that is more relevant to ur organizational need and select based on that.

Impressive! First class or not, degrees should be awarded for both character and learning. Meaning that degrees should not be based on academic excellence only. So typically a first class graduate should be the best of both worlds as the saying goes.

I will agree with you that recruitment policies that focus mainly on academic grades is not the right way attract the best talent but also the schools also need to raise the bar when it comes to awarding degrees. Note that this is not to say that people who truly have worked for and deserve a first class shouldn't get it but the truth is this; the output from a handful of these first class holders is so dismal and just leaves a sour taste and impression and what typically happens is people begin to wonder how other lower grade holders will perform if a first class holder's performance is below par. So therefore recruiters are forced to ask for other qualifications esp from degree holders with 2.1 and below.

My final take is this first class or not what matter is how you can pull your weight in the outside world.

Afterall Tony Elumelu finished with a 3rd class and see where he is today.

Statsocial:
Lol You don't make an individual's issue a University one. I am a CU Alumnus and I can remember seeing people completely freeze out during our IT seminar. One even had seizures, but am particularly surprised that she/he hasn't overcome that fright because for my department presentations usually begin as early as your first year as lecturers would sometimes use it as an alternative to a written test.

Well you are spot on. I think it's quite tacky for me to use one example as a simplistic generalization. However the truth is I have gone through over 6 CU and Bowen graduates in the last 18 months alone three of whom have first class degrees so I get somehow weary when people come brandishing their first class certificate. Besides I can quite understand if people bulk under exam and test conditions but bulking in a relaxed work environment where you have two weeks to deliver is another thing. More so, the presentation ain't the only gaffe.

Congrats but the story ain't complete without the reason why you were expelled from CU and which one is Veritas Uni again.

I don't mean to throw any cheap shade though but a first class in Accounting from a relatively new private uni that is looking for intakes won't take my breath away. Maybe one from one of the legacy schools but Veritas? Hell no.

I even struggle with those from CU and the likes. I have an an analyst that was just drafted into my team; big English nice grades from CU but ask the lady to do common presentation slide or investment teaser for client pitch or sales and she will be sweating like something else.


All the same congrats. I suggest you consider ICAN,ACCA or even CFA to increase your chances in the overcrowded job market.

When will the DSS and EFCC raid this fool's hilltop mansion?


I can bet they will find a lot of good stuff there. Without fear of reprimand IBB basically laid the foundation for the problems facing uss as a nation today.

He was the one that devalued naira contrary to popular opinion. He also laid foundation for corruption. Annulled the freest democratic election in this country. Assassinated a lot of people. Introduced SAP and a whole lot of other stuff that don't make sense.

He should be hiding in a hole and not giving his unwanted opinion on topical issues.

Which one is raw land again?

I guess you mean bare land. On the flip side if bare land is now know as raw land then it's safe to say that land with buildings on it is cooked land right.

Smh!

Everybody in Nigeria is corrupt. This is the same pattern that played out with the ECA during Jona's time.

The bank directors are putting pressure for money to be shared from the foreign reserves esp now that it's itching towards 30b dollars.

The truth is I doubt is our FX invisible needs is up to amount to be shared.

What will happen is that it's will eventually end up in the hands of the black market people when it has been hijacked by the top mgt in the banks

Later someone will come here and start abusing Buhari and the CBN gov.

spectator2001:
This is simply elementary economics! "...foreign investors will be assured that once they want to take their funds out, they can do so without hindrance." How did we get to this level as a nation? It's a pity that the blame game in the Nigerian politics is like a pendulum -it goes back and forth. Trust me, the nation is on a jet-speed in the direction opposite of a successful destination.

The CBN governor who supervised the looting of the previous administration in conjunction with a Minister of Finance presumably thought to be above board all failed the nation immensely. The day some man named Oronsaye was named in a corruption scandal was the day I gave up on Nigeria. Africans are forever unfit for self-governance. Please don't argue this. Jammeh escaped with $11 million dollars, how much does Gambia as an entire nation possess to warrant that dirty looking nui.sance escape with such amount of money?

The problem with Nigeria is very simple. "Let me get there and chop my own". Until a generation is ready to sacrifice all the entrapment of comfort which our lackadaisical attitude promotes, we shall forever watch our nation earn optimal level of disrespect from the rest of the world. same goes for other African nations.

How does the external reserve directly affect the life of those people at bottom of the "crumbs" chain NOT food chain please! How? Every move or pronouncement at this very point should translate into something meaningful in the lives of the ordinary Nigerians, when its time to impress the upper class with jargons such as external reserves bullshit, we'd get there.

Wait, Isn't it the same government that is about to plunge the nation into further debt of billions of dollars? If these figures as quoted strikes off as genuine- then it is pure madness if the government can't withdraw $10 billion dollars from the external reserve to fund a proper recovery plan for the economy which would include massive infrastructure development that would thoroughly impact the lives of Nigerians positively!

You will live long. God bless you.

Keneking:
Ok

"He also disclosed that with the single-mindedness exhibited by the CBN governor to rebuild FX reserves, he has set a target to grow reserves to $35 by the middle of 2017 and $40 billion by the end of the third quarter of this year."

This statement is useless as there is huge backlog of forex requirement by students (schooling abroad) for tuition purposes and your government is not considering supporting them. I think this reserve build-up is unnecessary. Because the stomach can not be hungry, while soup is in the fridge.

Nonsense. Is the terminal date for Nigeria - May 29, 2019?

So why act as if there is an award to be won in the end?

Hopeless situation.

What benefits do fx allocation to school fees have on the economy.

At this point it is only wise to channel our efforts towards production and optimize this.

I support the build up of the reserves because that is the only way we can gather investors confidence. We suffer from too much tunnel vision in this country.

I bet CBN office in Kaduna didn't have that amount of dollars in thier vault.


I also hear another 160m dollars has been discovered.

This whistle blowing law is really good.

sonnie10:
The maths does not add up. Assuming he gets off school and arrives at the salon at 3pm, how many people can he barb to make 10k?

Let's be generous with figures;

Say they charge #500 for each hair cut. He would have to cut 20 people to make 10k

3pm to 11pm is 8hours. Assuming the minimum he spends on each person is 30mins. Therefore he can only cut 16 people ( non stop).

This time excludes dinner time, using the restroom, cleaning for the next Customer, and break.

It is possible that he now makes 10k as against the 5k earlier quoted. What if the guy gets tips or maybe people decide to pay him more the the standard amount for a hair cut?

The guy is gradually becoming a celebrity barber and I hear that people that visit the shop in droves just because of him. Infact a friend visited had his hair cut and gave him 2k so it's very possible for him to make 10k in even less than 6 hours

They should stop exploiting the small boy for their selfish gains abeg.

Instead of all this interview they should rather help him secure his future.

I wonder the kind of questions Toke will ask the poor boy who is looking rather very confused in the picture.

Maybe she would recommend that he buy her book since that's the only thing she has going for her now. I bet no man would want to date her again now since she has unofficially crowned herself the "Queen of Kiss and Tell" in naija.

All the best to the young lad and May God crown all his efforts with success.

Thank GOD for this new.

Word of advice people need to stop posting everything about their personal lives on social media.

You will be utterly amazed at how much unstructured yet vital information that people post on social media that can be used by almost anybody and people practically become open targets without them knowing.

My subordinate called in sick sometime last year and was updating his FB status to showing him checking in to the Galleria around noon same day. Now my question to him was are there hospitals into the Galleria?

Just a word of advice though. All the best.

In same climes, there is usually a national conservation area where animals are kept.


People just killed the poor thing and decimated the meat. The hippos won't just attack people unless it feels people are encroaching into their personal territory.

We still have a long way to go in this country of savages!

We shouting that food is expensive whilst the Chinese are snapping up mining licenses and exporting all our commodities to China.

I have a Chinese client that prefers to be paid with commodities as an alternative to been paid in USD because he knows he can also trade the commodities and get like 150%ROI from the deal


My friend that went into cassava farming two years ago in Ogun state recently acquired 150arces of land and is expanding. He has the like of Guinness and NB buying his starch back to back.

The solution to our problem is to go back to the basics which is farming.

Practically everything we consume is imported and now oil prices is down yet dollar can no longer be subsidized, yet we keep consuming imported food items so what exactly do we expect?

God bless Nigeria!

rallymento:
Nice write up..... But I think it's time to quit the blame game... No body is blaming Obasanjo n 16 billion dollars Electricity scam...because he is an Afonja abi?...some of these banks were doing loads of shady dealings before GEJ took over power... So I find ur write up baseless for accusing GEJ and the Wife for the issues with Skye bank..

Thank you for the comment but pls don't mix apples and oranges. Obj didn't use depositors funds for the 16b dollars scam and if you go through my post on nairaland you will see that I also condemn Obj where I deem fit.

We are talking about an elaborate scam that involved using depositors funds and GEJ was privy to it because he was the one that approved the sale of Yola and Ibadan disco to Tunde Ayeni over the likes of GE and Schneider Electric whom were technically and financially capable. He also approved the sale of Enterprise to Heritage over Fidelity and a South African bank that were also more qualified. It was public knowledge that Tunde Ayeni didn't have the funds but used other people's money by virtue of his position as chairman and ally to GEJ. It was this decision that made the MD that took over from Akinfemiwa to resign before Timothy took over. We are talking about People's life savings and so it's not out of line to talk about it for the sake of posterity and pls this has nothing to do with tribe.

The due diligence report submitted by the technical consultants that vetoed the people that wanted to buy mainstreet enterprise and the discos recommended the most qualified bidders but GEJ used his executive power to allocate sale to Tunde Ayeni. Same way he sold Mtel to the same Tunde Ayeni instead of selling to Glo or MTN two telcos with an already existing platform and resources to turn the fortunes of Mtel around. I guess you know what is happening to Mtel now

God bless

For avoidance of doubt. The people that resigned were not the ones that put the bank in trouble.

Those were sacked by CBN last year. Also for avoidance of doubt Skye got into trouble because the Chairman Tunde Ayeni a know GEJ crony was giving loans to himself and friends without due process and also did a lot of shady deals with the past govt.

He was the one that bought Yola and Ibadan Disco using depositor funds of about 300m dollars. He also used almost 150m dollars to finance contracts from NNPC all of which were over invoiced. There is also the matter of the 120b loan to proxies for the Heritage/Enterprise Bank acquisition.

Are we also quick to forget the millions of dollars stashed by PeJ in the bank?

And for those that follow the news very well. We are informed that the management in place was a transitional one hence just a matter of time before they are asked to go and a new team in place or maybe this is the sign of a possible acquisition. They is talk of a bank in SA shopping around to acquire a mid size tier 2 Nigerian bank and Skye looks like a sweet target.....low share price.....new management.....trying to clean their books etc. Let's watch and see.

Both parties are pawns and a lot fail to see the larger picture.

What will happen if God forbid someone dies during the protest?



Tuface is been paid to champion this and some people are just following blindly

MMM!

idupaul:
This really has nothing ro do with oil prices I tell you .I am out mow if not i would have taken tome to explain why this has nothing to do with oil but rather poor leadership ... Is it low oil prices that has stopped Buhari from replacing his productivity minister that died over a year ago ? Buhari is visionless and lackadaisical toward economics period

One of our major setback is that we build the progress of our country around individuals instead of a set of core values hence the reason why we are quick to see our leaders as messiahs

Mambox:
Nigeria currently has installed generation capacity of about 5500MW but because of inadequate transmission infrastructure, it has been limited/restricted to an optimum of 4800MW, all other conditions being equal.

The biggest challenge presently and according to the Power Ministry is the fact that ALL gas turbines are silent. NO GAS SUPPLY to fuel them. Each time the kinsmen of these Sapele guys blow a pipeline, they're quick to celebrate. The FG has already carried out four rounds of repairs amidst VERY scarce resources fixing different points on the pipeline. We are thus constrained to depend on Kainji, Jebba and Shiroro hydro plants with combined current production capacity of barely 1000MW!

I understand many bandy the pains of their favorite candidates not winning some election some 20months ago but playing the ostrich will help no one.

Both Forcados and Escravos lines are down and Shell is threatening to vacate Rivers State. Ultimately, the community loses in investment and environmental degradation.

Until the pipelines are back, fully or marginally, we better learn to hug the darkness. We have no other source of fuel for our generating plants.

Can't we build
O yes! We can! Gurara hydro 40MW will be completed this year, Tiga hydro in Kano and a couple of others, with combined installed capacity of barely 200MW.

The biggest - Mambilla HEP is just being started by this government and might take up to 4yrs to complete. Yea!!! With a capacity of 3000MW, we should experience relative improvement.

But the cooperation and support of the Niger Delta remains the biggest and fastest run to power stability.
Because we've got nearly 3500MW sleeping away idle as a result of pipeline vandalisation.

Ciao!

AFTERS - I think there's a deliberate and calculated attempt to frustrate the government, but then this unpatriotic action frustrates us all. Everyone!

God bless you and you shall live long. Pls help educate all the muppets on this domain

danilmo:
grow up ignorant boy
all medical schools in nigeria has cadaver for practical..

Pls read and understand before you comment or you make a fool of yourself in public

Did I say there was a lack of cadavers in my post. I simply asked how many he has dissected.

I also passed through a Nigerian university and you and I both know that what we call practical is more like a lecture.
Same OOU where a 2.1 student of computer science cannot put together presentation slide or even install Windows OPS on a laptop.
This is how people fail exams.