₦airaland Forum

Which one bi Tomatoes Subsector again?

You cant sell a property this way. You make a bad estate agent.

So far the Doctors have been very patriotic and humble, i believe they were very patient with The Governor but lost hope when the Governor joined the other workers in the strike.Trust Lagos Doctors to embark on a protest whenever they re owed, even if its just 3days past their usual payday.

Aww! this one is Easternradio
I have seen Biafranvoice, Biafranherald, Igberetv news, Trentonline, Breakingtimes, IPOB Voice, RisingSun Daily, Mezieonline, BiafranTV, Biafran Radio, AbiaTimes, Southeastonline, Secretreporters.com, Fake Vanguard, etc etc all founded May 29th 2015.. and yet they say PMB has not created jobs for some idle hands..

DONMAYOR19:
go find out you will observe that they are all relations of apc chief. Apc are just too extremists in their bias, they hardly carry everyone along[b] except for a post of police and [/b]23k teaching jobs.



which injustice pass this one, Akwa Ibom oil producing state got 6 slot, [s]Gombe zero resource contribution to FG got 13, and someone said this country is not zoo. buhari na basta-rd. [/s]

You go and investigate and give us your findings before you start blabbing. Millions have had healthy careers in the Police jobs and as teachers. People need to be proactive and source for jobs or create one for themselves, you cant sit in a cave glorifying Biafra and expect the FG to get you a job in Chevron when you dont even have the mental capacity or wherewithal to handle such jobs.

lincolnj88:
apc is a demonic party.... these slots are for apc chieftains

How can you prove this? where you present during the recruitment exercise?

engineerboat:
And what happen to this structured.....

the last 2 pictures are not from the Academy.

OP, the pictures are not true reflection of the dates, both are far earlier than the dates you stated

DaBullIT:
Even if they are innocent bystanders , their faces are strong

una no go kill me for this nairaland

Boss13:
Please see full guidelines as released by the CBN. I retract my previous statement on over-the-counter Futures. This is very good for hedging FX fluctuations and I support that a formalised market be established for it. Welcome development.

However, for those who would not read it. It is official. Nigeria has devalued its currency in view of its economic challenges and illiquidity in the FX market.

New guidelines for the operation of the Nigerian Inter-Bank FX Market

1.0 Introduction

In line with the objectives of enhancing efficiency and facilitating a liquid and transparent, Foreign Exchange (FX) market, the Central Bank of Nigeria (CBN) hereby releases the revised guidelines on the operations of the Nigerian Inter-Bank FX market towards the liberalisation of the market.

2.0 Guidelines

The CBN shall operate a single market structure through the autonomous/inter-bank market i.e. the Inter-Bank Foreign Exchange Market with the CBN participating in the FX market through interventions (i.e. CBN Interventions) directly in the inter-bank market or through dynamic “Secondary Market Intervention Mechanisms”.

Furthermore, to promote the global competitiveness of the market, the inter-bank FX market will be supported by the introduction of additional risk management products offered by the CBN and Authorised Dealers to further deepen the FX market, boost liquidity and promote financial security in the market.

Additionally, to further improve the dynamics of the market, the CBN shall introduce FX Primary Dealers (FXPDs). These shall be registered Authorised Dealers designated to deal with the CBN on large trade sizes on a two-way quote basis. amongst other obligations as stated in the FXPD Guidelines – (Guidelines for Primary Dealership in FX Products). The FXPDs shall operate with other Authorised Dealers (non-FXPDs) in the Inter-bank market.

2.1 Inter-bank Foreign Exchange

Market 2.1.1

Participants in the inter-bank FX market shall include Authorised Dealers, Authorised Buyers, Oil Companies, Oil Service Companies, Exporters, End-users and any other entity the CBN may designate from time to time.

2.1.2 Authorised Dealers shall buy and sell FX among themselves on a two-way quote basis via the FMDQ Thomson Reuters FX Trading Systems (TRFXTConversational Dealing), or any other system approved by the CBN.

2.1.3 Authorised Dealers may offer one-way quotes (bid or offer) on all products and on request to other Authorised participants via the FMDQ Thomson Reuters FX Trading System (FMDQ TRFXT – Order Book System), or any other system approved by the CBN.

2.1.4 The maximum spread between the bid and offer rates in the inter-bank market shall be determined by FMDQ OTC Securities Exchange (FMDQ) via its market organisation activities with the Financial Market Dealers Association (FMDA).

2.1.5 Proceeds of Foreign Investment Inflows and International Money Transfers shall be purchased by Authorised Dealers at the inter-bank rate.

2.2 HEDGING PRODUCTS

2.2.1 To further deepen the FX market, in addition to the already approved hedging products referenced in the CBN “Guidelines for FX Derivatives and Modalities for CBN FX Forwards”, Authorised Dealers are now permitted to offer Naira-settled non-deliverable overthe-counter (OTC) FX Futures.

2.2.2 OTC FX Futures’ transactions shall be nonstandardised with fixed tenors and bespoke maturity dates.

2.2.3 OTC FX Futures sold by Authorised Dealers to endusers must be backed by trade transactions (visible and invisible) or evidenced investments.

2.2.4 FMDQ will provide the appropriate benchmarks for the valuation and settlement of the OTC FX Futures and other FX derivatives.

2.2.5 FX OTC Futures and Forwards will count as part of the FX positions of Authorised Dealers.

2.2.6 To promote market liquidity, Authorised Dealers may apply FX Spot transactions to hedge Outright Forwards, OTC FX Futures and FX Options etc.

2.2.7 Settlement amounts on OTC FX Futures may be externalised for Foreign Portfolio Investors (FPIs) with Certificates of Capital Importation. Such settlement amounts shall be evidenced by an FMDQ OTC FX Futures Settlement Advice.

2.2.8 Furthermore, FMDQ will be developing detailed registration and operational regulation on FX Options and will drive, with the market, the development of other risk management products and attendant guidelines.

2.3 Foreign Currency Trading Position

2.3.1 Further to the CBN Circular Ref: TED/FEM/FPC/GEN/01/001 dated 12th January 2015, Authorised Dealers, (FXPDs and non-FXPDs) are hereby notified of a review in the daily Foreign Currency Trading Positions of banks. Consequently, Authorised Dealers shall have maximum limits of +0.5%/-10% of their Shareholders’ Funds unimpaired by losses as Foreign Currency Trading Position Limits to support their obligations as liquidity providers at the close of each business day.

2.3.2 Where an Authorised Dealer requires a higher position limit to accommodate a customer trade, the Authorised Dealer shall contact the Director, Financial Markets Department. Where the request is assessed as valid, the Director shall communicate immediate approval by text or email to the Authorised Dealer. Thereafter, the Authorised Dealer must, with 24 hours, write to the Director, Financial Markets Department who will thereafter communicate an approval in writing. The Director, FMD shall exercise discretion on the duration of the temporary position limit depending on the estimated defeasance period of the transaction size.

2.3.3 Returns on the purchases and sales of FX shall be rendered daily to the CBN by Authorised Dealers.

2.3.4 Inter-bank funds shall NOT be sold to Bureaux-deChange.

2.3.5 The forty-one (41) items classified as “Not Valid for Foreign Exchange” as detailed in the CBN Circular Ref: TED/FEM/FPC/GEN/01/010, remain inadmissible in the Nigerian FX market. 2.3.6Applicable exchange rate for the purpose of import duty payments shall be the daily inter-bank FX closing rate as published on the CBN website.

2.4 CBN INTERVENTIONS

2.4.1 Participation in the FX market by the CBN shall be via: i. The Inter-Bank FX Market ii. Secondary Market Intervention Sales (SMIS)

2.4.2 Intervention Through the Inter-Bank FX Market

The CBN reserves the right to intervene in the inter-bank market to either buy or sell FX Spot upon the receipt of valid two-way quotes on the standard amount as defined from time to time in the FXPD Guidelines.
CBN may also intervene in the inter-bank market by placing orders for non-standard amounts in the FMDQ TRFXT – Order Book System., or any other system as approved by the CBN.
There shall be no predetermined spread on FX Spot transactions executed through CBN intervention with the FXPDs.
The CBN reserves the right to intervene in the inter-bank market to either buy or sell FX Forwards upon the receipt of valid two-way quotes on the standard amount as defined from time to time in the FXPD Guidelines.
To enhance liquidity, CBN shall also offer nondeliverable OTC FX Futures (bid or offer) daily on the FMDQ OTC FX Futures Trading & Reporting System.
The OTC FX Futures shall be in non-standardised amounts and different fixed tenors which may be sold on any date thereby giving bespoke maturity dates.
FXPDs may purchase OTC FX Futures for their own accounts or sell to other Authorised Dealers and end-users. viii. There shall be no maximum spread on the sale of the Forwards and OTC FX Futures purchased from CBN by FXPDs to Authorised Dealers and endusers
2.4.3 Secondary Market Intervention Sales (SMIS)

The CBN may, at its discretion, intervene in the FX market through the sale of FX to Authorised Dealers (wholesale) or to end-users through Authorised Dealers (retail) via a multiple-price book building process using the FMDQ-Thomson Reuters FX Auction Systems, or any other system approved by the CBN. All SMIS bids shall be submitted to the CBN through the FXPDs.
SMIS – Wholesale:

All FX Spot purchased by Authorised Dealers are transferable in the inter-bank FX market.
CBN may offer long-tenored FX Forwards of 6 – 12 months or any tenor to Authorised Dealers. o Sale of FX Forwards by Authorised Dealers to end-users must be tradebacked. There shall be no predetermined spread.
FX Forwards purchased by Authorised Dealers are transferable in the inter-bank FX market.
SMIS – Retail:

All FX Spot purchased by Authorised Dealers for end-users shall be for eligible transactions only upon the provision of appropriate documentation.
FX Spot sold to any particular end-user shall not exceed 1% of the overall available funds on offer at each SMIS session.
CBN may offer FX Forwards to endusers through Authorised Dealers and may limit the amount sold to an individual end-user o All FX Forwards sales to end-users must be trade-backed.
There shall be no maximum spread on the sale of FX Forwards by Authorised Dealers to end-users.
3.0 Execution and Reporting

2.5 To ensure effective monitoring of the FX market, all Authorised Dealers and end-users are required to trade only on FMDQ-advised FX Trading System(s). All transactions not executed on the Trading Systems shall be voice reported on the Trading Systems.

2.6 All FX transactions by Authorised Dealers are to be reported to FMDQ via the FMDQ-advised FX Reporting System. CBN will be granted access to this system.

4.0 Sanctions

Authorised Dealers are enjoined to comply with the provisions of these Guidelines, failing which appropriate sanctions shall be imposed, including suspension of the FXPD, Authorised Representatives of the Authorised Dealer, suspension of Authorised Dealer from the FX market and/or withdrawal of the Authorised Dealership Licence.

For the avoidance of doubt, all Authorised Dealers are to refer policy issues in respect of which they are in doubt to the Director, Financial Markets Department, Central Bank of Nigeria for clarification.

5.0. Primacy of the Guidelines

These Guidelines supersede:

Circular Ref: TED/FEM/FPC/GEN/01/020 dates October 28, 2014 titled “Guidelines on the Operation of CBN Interventions in the Inter-Bank Market through the Two Way Quote System”.
All other prior Circulars and Guidelines on the subject matter. Please be guided
Issued 15th June 2016

This your Psalm of David is confusing us the Wailers, We loaded our Guns this morning, waiting to fire at PMB, now we dont even know who to shoot, PMB or Ourselves

I understand, Deji Adeyanju is in Markafi's PDP while Obanikoro is in Modu Sheriff's PDP. Lately, they dont see Eye to Eye.

The Source alone, [b][/b] shows where the article emanated from..Where are the name checkers assoc,? i stand to be corrected

Judging from the Shape of their Heads, you would know the 2 groups are paid Yeebos,
Where are the Head Checkers Associations of Nigeria, Your services are needed to prove me wrong or right

sonOfLucifer:
Please correct yourself. The budget was in 4 ponmographs.

When the Avengers are finally Settled or Paid, they will end up buying Houses in Lekki, Victoria Island, Ikoyi or Maitama.

the monies given to the Niger Delta States every year since Democracy is more than enough to have turned the fortunes of the average Niger Deltan.

Anything against Amaechi is greatly celebrated by the Wailers, IPObian Yoots and their Ilks.


The Okerenkoko I know is a village, the 13billion paid for such land made no impact to lives of the people of the community.
the Niger Delta people should be eager to have such massive development project sited in the state
why sell a Plot for such outrageous amount in the first place for something that would benefit your place.
the entire pay ended in one man's pocket.

If not trentonline or Igberetvnews, who else will publish such trash

We dont need an explanation, we know how massively corrupt most of these military men are..
leave the wailers to wail till eternity..

I wish to see Fayose deliver such sensible speech and content to the people of Ekiti someday,.
I remember He read the entire 2016 Ekiti state budget in 4 Paragraphs and immediately signed it into law
the entire exercise was in 30 minutes.

amtaken:
I wonder why the Federal Government is disturbing this lady but choose to associate with corrupt individuals like Tinubu, Fashola, IBB, Abacha's family, Abdusalami, Atiku, Amechi etc.


A woman who's been a Minister up to 4 times and has also has held a lot of positions in both Private and Public oil sector is not expected to be poor.


When is the Federal Government going to probe the numerous criminals in APC?

Since you have all the proof you need, Why dont you write a petition with concrete evidences to EFCC against those you've mentioned

thomasthomas:
Op don't mind some well and fully educated and literate knowledgeable intelligent Nigerians who know so much that they know too well that the Minister for Power should be an Electrical Engineer BSc, MSc, PhD, specialised in Power only!






Now-gerians know too much that's just the problem

What ridiculous demand have they made this time?

They have asked for Nnamdi Kanu
They have asked for Dasuki
They ve asked for Corruption Charges to be dropped on all Niger Delta Disciples of Corruption.
They ve asked to be Named Directors of all Oil companies
they want to be the ones shipping and selling the crude oil abroad,

what would they want this time?

We Biafrans recognize Modu Sherriff as the Authentic PDP Chairman, we are ready for any war FAYOSE or WIKE wants to bring.
the fight continues..

comos:
story for the week.

Fashola said work will begin at Lagos-Ibadan express road last week, at the moment no contractor on site

Stop telling lies, They were already on Site since Last week

Onix01:
My simple question is how can a country of over 180million find it difficult to get seasoned professionals in managing science oriented ministries. We don't need people that will be speaking English day in day out but practical professionals that will hit the ground running. Left to me the COREN, NIA, NSE, CORBON should all bury their heads in shame as they cannot protest and reject such appointment. Fashola might be a shadow of himself throughout the 4yrs as his position is overwhelming for his capacity.

You need a Seasoned leader to manage the Power ministry, There are hundreds of Professions and Disciplines involved in the Ministry not just Engineering.

AnotherSeun:
b4 opening this thread, i was expecting them to be IPOB yoots....
atleast it goes to show that not[b] all the youths from that part of nigeria are jobless and wailing on imaginary request[/b]..

decomaniaboss:
your entire generation will be buried with those that died that day!!! Monster !!!

Back to sender, Anuofia!

oweniwe:
Diezani was a billionaire before she became petroleum minister. She was a director at shell....

People like that are used to living in opulence. If you buy N100,000 bottle of wine, but to people like Diezani, N100,000 is like N1,000.

I'm not defending her if she stole... But as an ex shell director, I don't expect her to be living in GRA or wear N10,000 neck lace.

Stop spreading lies to the gullible, Director in Shell doesn't mean she owns Oil wells..Compare her house as a shell worker and as The Minister of Petroleum under GEJ's thieving regime

realjoker:
I thought you guys claimed GEJ have tarred all the federal roads in SE with gold and diamond? hence call him your hero and chief transformer.

According to IPOBians, GEJ built the roads but recent rains and Herdsmen destroyed the Road

kayfra:
Kanu just got dumped. It must really suck to be agitating for Biafra. You get no respect

Where are the members of the Ranters Club AKA The Wailers Fraternity AKA, the Disciples of Corruption, AKA Advocates of Everlasting Corruption AKA ND Avengers Fan Club .. If Ambode or Oshiomole had made this Statement, by now this thread would have been on the 10th page with their usual vile and venom.

osagix:
FOR HOW LONG WILL THIS LAST.?
HOW MANY OF SUCH REQUEST FOR ASSISTANCE CAN SHE RESPOND TO?
WHY CANT GOVERNMENT ENSURE THAT THESE EX-SERVICE MEN GET THEIR PENSIONS AND ENTITLEMENT ON TIME.
[b]WE SHOULD STOP PLAYING CHEAP POLITICS WITH THE LIVES OF NIGERIANS, THIS IS VERY PATHETIC ESPECIALLY FOR SOMEBODY THAT HAS SERVED HIS FATHER'S LAND.[/b]
WHAT LEGACY ARE WE LEAVING FOR THE GENERATIONS TO COME. THERE IS SO MUCH STEALING AND LOOTING BY SOME SELECTED FEW IN THIS COUNTRY. WE SEE MANY CHILDREN SQUANDERING BILLIONS OF NAIRA STOLEN AND ACCUMULATED OVER THE YEARS BY THEIR PARENTS, THEY DONT HAVE ANY IDEA ABOUT HOW TO WORK OR MAKE A LIVING OR EVEN HOW TO INVEST THEIR ILL GOTTEN WEALTH TO GENERATE MORE RESOURCES. THEY ONLY KNOW HOW TO SPEND, SPEND AND DISPLAY THEIR ILL GOTTEN WEALTH.
PEOPLE ARE SUFFERING IN THE LAND, IT IS JUST A MATTER OF TIME THERE IS GOING TO BE SOME EXPLOSION (OUTBURST) SOMEDAY, SOMETIME VERY SOON!

As many as her resources can provide. Aisha Buhari is not his employer, there is nothing wrong with her little assistance, you should commend and not vilify her.