₦airaland Forum

he has no option most of the work has been ordered just receive them and put them in place

the green looks good, hope they tint the glasses/windows a bit

some stations should be complete by now. . . ?

Kobojunkie:
But cost of printing, which CBN claims to be the major problem is not huge when compared to cost of printing in other economies, even Brazil. Last I checked, Banks are private entities and so I don't think it is the CBN's issue to worry how much each bank chooses to spend there.

Cost of implementing Pos terminals, if handled by the CBN as seems the case here, is likely to cost us even more since the same CBN will still busy itself with printing of Cash, in addition to handling and maintaining PoS terminals. I don't how that is tremendous savings considering this Governmental agency is once again, trying to take on a role that should be left to private entities.

Cost of printing when compared to other countries can be huge or insignificant depending but if there's a chance to make a saving and perhaps direct that money to somewhere else then good. unfortunately i dont know much different countries print their cash but it will be interesting to include their GDP and other economic indices to see the price holistically

The CBN will have to regulate the banks hence will have to monitor their operational cost to set interest rate, charges, fines and other policies- at the end of the day the banks will lend to businesses and you dont want them charging exhorbitant amount they can easily blame on costs incurred

the same way the govt has to provide enabling environment to make businesses operate and survive- we can say the the business should provide electricity/water/road for themselves they govt should just provide security and laws


the banks already have electronic banking, companies already bought license for POS etc etc the long term benefits outweighs the initial cost- the CBN is only issuing licenses and regulating their operation, those with licenses are current sitting idle waiting for the catalyst-

Yes to the CBN the problem is mainly cost of printing; to the banking industry as a whole the cost of cash management is huge; transit, insurance, processing time-lines, inefficiency, huge buildings to accommodate huge vaults

The cost of implementing POS and maintaining will be spread between the banks the shops the licensee, and customers perhaps- cash will still be available. I don't think cashless in this context means absolute no paper- just less Ghana must goes

if they dont test run it tehy wont know where the fault is or where to make corrections to make it more efficient


_{Where are the bankers and real economists on this forum anyway}

P.S

printing the cash cost c.37Billion, Managing the Cash cost N200b

whichever way or manner the policy is introduced they'll be concerns about it. people don't like the way Lastma enforce the seat belt rule
people dont like the fact they are fined for talking on the phone whilst driving, people dont like the fact electricity would be more expensive when the old bagger is privatised

A time limit has to be set, atleast you can only assess and improve something you've done a test run on, it doesnt just come out perfect
if the time limit is 2015 when 2015 comes people will still complain

''CBN governor, Malam Sanusi Lamido Sanusi, said in Abuja on Tuesday that the bank would test-run its cash transaction limit policy in Lagos in the next six months.''

The June 2012 still stands for the other cities- emphasis will be on Lagos state, if things happen in lagos it will happen everywhere, the test run of lagos will be used to adjust the policy for the 2012 deadline or even a future date.

chamber2:
Of course they won't dare that.They are afraid of the CBN hammer.

what??  it is costing THEM money moving cash around! They invested massively in chams and interswitch, invested massively into cards signing up with mastercard,visa etc invested heavily in IT,

I mean why will any sane business do this if they are not aligning themselves for the obvious? And tehy have been doing all these way before the announcement of this policy because it has been in the pipeline only that there was no one taking the bull by the horn to fix a date!

scopusng:
Fool. That means you are not current.

pig, not current about what exactly?

Evans5050:
Why are people so scared of change?
Only 8% will likely be affected by the policy, Hence will should learn or
inculcate the habit of using card
There is need for a cashless society.

When some people have CASH on them they feel RICH, think about it, when they go to a restaurant they only way they can show dem get money is spraying Naira notes, how do you oppress others with plastic card, cards don't make you pocket bulge  

felele:
I'm now convinced that Sanusi Lamido Sanusi has lost his marbles and does not deserve, on merit, to be the Governor of a primary school, talk less of the Central Bank of Nigeria.

His main excuse for attempting to experiment with West Africa's largest economy is cash management cost? Why then does he find it difficult to go back to the Soludo solution of redenomination and re-introduction of coins into the system? Pride? He should just swallow his pride joor and allow redenomination, as well as re-introduction of coins, in order to reduce the cost of printing, as well as the need for constant reprinting.

Large notes need not be phased out, and may be retained for large cash transactions.

Islamic banks, experimenting with Lagos' economy, this guy needs his head examined.

do you know what 200b could do? if you run an institution that spends 200b printing and moving cash around, you think thats okay when the same money can be channelled elsewhere?

re-introduction of coins? was coins ever banned?

chamber2:
Lets not be in a haste to compare and conclude.A cashless economy is a good one and evolves gradually through proper and targeted enlightenment programs.Deploying the POS is not enough, ensuring that they are adequate and functioning continuously is also part of it.

You cant get a result if you don't carry out an experiment!

shaaggee:
It is no doubt a laudable scheme, but other critical infrastructure that would aid it have to be working seamlessly 1st. The telecoms & internet in this country are still in shambles as far as im concerned. Just a few days ago, i went somewhere and had a bill of about 3k. i didnt have enough cash and asked for their POS. They had about 5 and non of them were working! No network!!! i had to drive to the closest ATM, about 10 mins away to get cash. so i believe for this to work, power & telecoms have to get to a fairly reasonable working level.

yea shortage of ATM is still massive problem, i cant believe people have to go to a bank just to use an atm and most of them have only 2-3

chamber2:
A CBN governor who coughs out policies without critical assessment of its success factors is obviously not a good governor.Before it was Lagos, Aba, PH, Kano etc and now it's only lagos.Haba! Mr Governor, na so dem teach you?

I only hope this doesn't throw the Nigerian Economy into another round of recession.

how do you know this policy was coughed up with critical assessment, have you heard any bank come out to say they are against this? all the banks are on the board of the CBN making decisions together and this policy has been in the pipeline for a long time, if you are aware of the anti-money laundry bill
these are all part of the bill( 500k limit), you guys dont just read the papers and think policies just spring out from nowhere.

where did it say its only lagos?

feeding wife and kids . . . not in the mind

Taking care of aged parents who just scrapped enough to pay for degree - not in the mind

Taking responsibility of younger siblings is not in the mind

Aside from Arokoyo, who is close to a deal abroad, other products of the academy have also excelled in the Premier League.

Chinedu Ajanah, Kelvin Kpakor and Barnabas Imenger have also become household names in their first Premier League season after impressive outings for Kwara United, while Aminu Abdulkadiri is one of the reasons why Bukola Babes have been outstanding in the elite class.

does any of these names resemble an kwaran name?

They currently play for league clubs

so sad to live with perpetually oppressed citizens

How will Clement Westerhoff or Paul Ashworth know if you are from Kwara or not?

People like you go around with the mentality that the 5000 people employed by Dangote are his children or from kano state!

AjanleKoko:
I have a friend who is now over 40.
He graduated with a 3rd class degree in English. Went to NIJ, did a diploma, went back to school and did masters. He eventually went to the UK and did a PhD in advertising/marketing.
He lectured at a couple of universities (good schools too!) in the UK, and is now back in Nigeria, at one of the private business schools, the foremost one. He's a professor of marketing today. By the way, his 3rd class is from a 3rd rate state uni.

3rd class isn't the end of the world. The problem is, we Nigerians are somehow bent into this fast-track mindset. We're always looking for quick fixes, rather than applying ourselves. In fact, it has become such a generational problem that it amazes me. People are just playing life in Nigeria like a lottery.

you have to consider the economics of it all, the employers, the competition, the family, the expectations, capital to go it alone. . . .

there are some things i don't understand with hospitals, why dont they treat the woman then pass the bill to the governor, with evidence, it's pretty obvious they are causing pain and increasing the treatment fee by telling her to go away and come back with the money

will the governors ever say no? i mean from 55,000 - 500,000, these doctors should be able to come up with commonsensical solutions, they should have funds for treating deprived people from the villages. how do they survive?

certainly, a huge percentage of the population will let the politicians steal themselves bline if they can just get electricity so the lil money they have wont go on generator and fuel, they will go about running their own business, not sitting around brewing with anger

With 24/7 electricity, businesses will expand, more jobs will be created, less people on the streets, more money in your pocket

but then again the politicians will want you do depend on him on way or the other so he will do whatever it takes to atleast make you need him to have that control

I agree, if there are checks in place his type wont get to the position or when he gets there he'll be shown up quick

Justcash:
Nigerians in general, especially the masses are corrupt. The dreams of most Nigerians, both rich and poor, are to get an opportunity to dig their forks into the national cake and loot their part. This explains why as soon as a pauper is elected into an electoral position, he or she turns into something else, and suddenly becomes very corrupt.

I flew back from Yankee some few days ago and decided to organize a 5 hours e-commerce skill acquisition class for two days, where I intended to give out some of my new model laptops to some very small scale businessmen.

I contacted a not well to do man in the neighborhood 2 days ago, and decided to employ him on a part-time basis with a paltry salary of 15,000 P/day (Around $100), for the duration of the course. This, I expected to be enough for him to at least start up a petty shop after the end of the program. I even made him to promise to do so. All he had to do was to get as many small scale businessmen to attend the class, by going from shop to shop and talking to them. I was aware that they would exhibit some form of apathy about going to sit and listen, when they should be in their shops.

I specifically told him not to tell them that laptops would be given out. I intended to give them only to some outstanding few. I, however, planted some of my boys to monitor him and bring reports of his progress back to me.

To my biggest surprise, I got a report that the man had spread the news that laptops would be given out to everyone that would attend the class. Not only that, he was demanding for 500 Naira as attendance fee. He even went ahead to collect the money from some people and promised them brand new laptops, when he is not even the one that is responsible for that.

The question is, what is the difference between this man and a normal Nigerian politician? If this man happens to become a politician tomorrow, and leads Nigeria, you can guess how wayward he would be!!! Even after getting a contract to make 30,000 Naira in two days, he went ahead to extort money from his fellow countrymen, without even considering that they also find it hard to feed themselves and their families.
I think corruption is worse among the Nigerian masses than politicians.

I don't think that it is the nature of Nigerians. It is just a work of greed and lack of empathy.

MAY GOD HELP NIGERIA

_{If I run a one man painting service, how does an e-commerce seminar/lecture help me in Nnewi for example, this should have been directed at students or start-ups who at least know something about the internet/computing.}

namdo:
@Dis Guy
point is a society where there is indiscipline, disrespect for order, rules, laws and laid down procedures the language that would be quickly understood is either prosecution or use of force by the enforcement authorities. 

Jonathan is not prosecuting or arresting the errant marketers, he is only giving the DPR agency an order to do their job, which is wierd, shouldnt he be sacking them for having to tell them that?

a society with indiscipline,disrespect for rules and laws needs a government that will fine, jail or sack those culpable and those responsible for regulating; not just bark continuously like a chihuahua

yoged:
My friend. I'll boldly and soundly advice you to join the club. Kwara academy dont worth a penny. I school rite here in Ilorin. So am familiar with both Kwara Academy,kwara united and bukola babes. There's much competition in Kwara academy. Its survival of the fittest.all this top people's kid rite here.popularity of a thang. Please,join d club and i wish u d very best in lyf. Peace out.

how can you advice someone to join an unknown club with no links to other clubs over an academy even citing competition? The guy wasnt to be a paid footballer not just play football. Do you think there are no competition in West Ham academy, Leeds etc etc? How can you advice someone to ignore a 'well' structured academy with exposure and decent facilities for a behind the bush football club where touts posing as agents come to organise streets matches extorting money off desperate kids

What do you know about x club that you are advising him to join?

E be like say them don, forget that side sef, only one since feb 2011

http://www.supersport.com/video/play.aspx?id=15403

manny4life:
Hmmm


Fashola has done a great job; however, I think he's over hyped but hey if he deserves it, then he does. What many governors need to  start doing is generating income for their states. Many states have so many potential that they could harness from.


How much does Cross river generate from tourism-under Liyel Imoke? we know how much Lagos generates under fashola, we are comparing governors right not only states
a state with 3million residents- shouldn't be too difficult to keep clean

Good things attracts investors and publicity

You rarely hear of people moving to Bayelsa cross river for job opportunities, why do you think this is?

A state of 18million people as well given the resources shouldn't be a feat to clean either. Rivers have made $2billion like Lagos did already because the Govt simply doesn't know to harness their resources to attract revenues. Good things attract investors but you have to work at finding those investors before what u have attract them; they just don't know it's there. Many states have a long way to go to generate revenues aggressively like Lagos does and that will help them in the long run.

finding it difficult to understand if you are quoting me, replying to any parts of my post or .   .   .?

Cleaning up lagos with its bursting population isnt as straightforward as cleaning up Calabar irrespective of its current resources, there are huge infrastructural gaps and social investments competing for the state generated funds.

I dont understand the other part.  .   . are you posting from a mobile?

Good things attract investors and pr: Apart from the FG lagos state government probably has attracts more private sector funding (local/international) even without oil- Hence the PR, the rest are just flying in and out of Abuja pushing paper

where the train dey sef?



Have you travelled on the train recently?

Mk1ng:
^^^^^^^^^ It takes more than a few thousand to service the yacht and [b]I do have some inside info from my friends who still work for him in Lagos [/b]that he is on the verge of odering a new bigger replacement yacht. However I do admit that he may not be worth as much as he was say in 2009 due to some bad business deals and an ongoing expensive argument he has with Dangote.

inside infos from friends/workers are usually ego talk, the dude is just recovering and flexing muscle under Jonathan, you need to get inside info from the banks!

When was the last time you read an opposition member in Lagos has been kidnapped and incacerated in Abuja or kidnapped and his wife tortured?

Poverty will remain the middle name of 80% of Nigerians, but the elite section of Lagos State will continue to be attractive and unaffordable (I guess, that's enough for some of us to praise Gov Fashola and call him the greatest governor ever).

And the elite section of Abuja, PH, Delta are very affordable to the average joe knowing how scarce non-public jobs are in these cities?

Osaze is not hosting the boys when they come visiting

this issue has been overflogged


If i were Osaze, i will go on a well deserved holiday in Florida, Miama or even Las Vegas, it's not like he hasnt played in better games before
in fact he can retire from the National team and allow them go beg Shola Ameobi and Moses who will expose their incompetent/bribe seeking asz in British tabloid for the world to see.

Christine01:
I am a graduate of Biochemistry and I have been shortlisted to serve in Batch B (2011). I am influencing my posting to Abuja. I want to know some of the parastatals related to my field of study, where I can serve and also be retained. Thanks.

there must be a reason you influenced your posting to Abuja in the first place

joecrack:
@jason123
really govs in the SS are really not disappointing,go to akwa ibom see transformation,rivers state have got the best puclic school system in nigeria,cross river leads in tourism,with calabar being the cleanest and most organised state capitals,edo,delta and bayelsa are also performing,only they are nt very much into publicity but like i earlier said it is their job and they are nt doing us a favour

what states like BAyelsa?

River state hasnt got the best public school system, they are building good beautiful public schools, the result is not know yet
How much does Cross river generate from tourism-under Liyel Imoke? we know how much Lagos generates under fashola, we are comparing governors right not only states
a state with 3million residents- shouldn't be too difficult to keep clean

Good things attracts investors and publicity

You rarely hear of people moving to Bayelsa cross river for job opportunities, why do you think this is?

http://www.bowenuniversity-edu.org/pages.php?page_id=33


^^^ looks like they need a new university altogether!!

liaison offices, shopping complex?

Na Wa for these salary questions o

i think nigerian companies should just start publishing their salary especially entry level

http://www.nhsgraduates.co.uk/Life-In-The-Nhs/Pay-And-Benefits.aspx

http://www.tfl.gov.uk/microsites/graduates/schemes_benefits.asp

that way everyone know what they are applying for

blacklion:
Thanks for the information about Bowen.  The private unis that I have visited do not have that size of enrollment. Hence the caveat 'as far as I know'.

You could have addressed my question without the petty personal insult. Says a whole lot about your personality.

Actually you are not far off, MOST of them have just about a thousand students, the well known ones are less than 10