₦airaland Forum

Charity begins at home. A Nigerian should never be given this position, lets build our home first, only then we can talk of rendering our services to the international community. Nigeria is a complete mess right now and we should focus in solving our problems first.

These are questions Ahibandgas would have happily answered with ease, but with all the insults he had been receiving from this damn lazyyouth of a guy, I doubt if we still gonna learn anything from Ahibandgas again in this dying forum.

ultron12345:
Please oo, I have a question for those with experience in transportation.

How much do drivers of 30 ton trailer charge to move goods between Port Harcourt and Abuja?

What is the fuel consumption of the average Nigerian 30 ton trailer per km?

Will you advice I hire trailers to move my goods or will it be cheaper for me to own my own trailer just for the purpose of moving my goods? (Usually 2-3 trips per week per trailer depending on distance)

What do you think is the most cost-effective method of moving HEAVY goods across Nigeria?


NB: For the first question, it doesn't necessarily have to between PH and Abuja, any pair of major cities apart from Lagos (as Lagos transportation tends to be super expensive compared to other parts of the country) you're knowledgeable about will do.

Must the trucks carry maximum 30 tons sef? What happens if I load them with 40/45 tons? Or I attach 2 trailer-beds to one head?

Pls Sir, explain to us more about this high yield note, how is it different from the normal VGIF? And how can someone with existing VGIF subscribe to it?

Dsticks47:
A better option is VGIF and high yield note.
VGIF as at now gives a return of 7.5% annually with as low as 50,000 You can subscribe to the fund. On the other hand, The High Yield Note boast of 9% with a minimum entry point of 10m.

You have to be extremely careful when fighting someone who isn't fighting you or hating someone who doesn't hate you. Even though this is a faceless forum, always remember that there are forces who hears and sees all that we do. Try not to heap curses on yourself and your (future) children. We all expected you to give up on this fight before now, since you are not being paid for it.

"Don't abuse anyone's kindness, even in every angle, a demon hides".

Lazyyouth4u:
See defenders of the universe o. Na wa for Nigerians o. No wonder our thief thief politicians always have defenders and supporters even when there is clear evidence of their corrupt practices .

Anyways, I don’t give two fs about what you guys think to be very honest. The most important thing to me is that wise people are decoding and will not take seriously what an audio person is throwing around on the internet to deceive people .

Audio guy wherever he is knows deep down in his mind that he has been found out and will be more careful with his audio ways. That one too sure .

Now let’s get back to the reason for the thread - Tbills .

emmasoft and distick47 should really explain why it is very difficult for customers to redeem their funds from Investment One, it might help to repair their image a bit.

Thanks boss, I will check it out.

Dsticks47:
The best right now is VGIF from IOFS.
Which guarantees not only your capital but also the ROI.
For more information on the Fund kindly reach me through my signature.
And if you will want to come to our office am also available.

Please, I need advice on the best mutual fund to invest my money at the moment in Nigeria.

Why is it taking so much time for nairaland moderators to block some people? Oga Seun Osewa, please spoil the rod and spare the child.
Our thought-provoking thread is under siege.

God bless Obaseki and his team, Edo is definitely on the right track with this governor. God bless Nigeria.

@TransAtlanticEx, many of your points about our economy are clear and irrefutable, but you are a very temperamental person and uses lots of derogatory words on people, making your supposed high points childish and completely useless to your audience who would have learnt from your wealth of experience.

Insults are the last resort of insecure people with a crumbling position trying to appear confident.

TransAtlanticEx:
I see something happening on the 7th of september,2 outcomes;
1)CBN will sell dollars but in small quantity,that will either not go round amongst all BDCs or will go round but in very minute quantity(this still breeds scarcity).
This will have so little impact on the price market for fx,especially with increased demand due to resumption of international travel and have rates shoot back up again to the mid 400s.
Or
2)CBN will be bold enough to release much funds and risk destroying its $35B which will totally collapse its naira las las in the long run which I know they can't risk...
OPEC is beginning to ease oil cuts which might bring down oil price again or stagnate it,which means less inflow for the CBN and we also know remittances and FDIs or FPIs are out of the picture this season.
Cheap dollar people,don't be optimistic yet,e get why
Next week will be funny,we dey wait...

Nigerians are the problem Sir, our politicians are only helping us to further ruin our future, because our leaders are products of our decayed society. The main thing that changed in Nigeria is the way we raise our children, both in school and at home. The children we didn't train properly 15, 20, or 30yrs ago are now a big threat and burden to our society. The way a country trains their kids or young ones always have a primary role to play in the society at large, that is why I have sworn never to train my kids in Nigeria, the kind of society we have in Nigeria today is the most unfit to raise up normal and responsible children.

OgogoroFreak:
That's where you go wrong. The problem is not Nigerians. Most Nigerians travel out and automatically start doing better than they were in Nigeria. What actually changed? Think about it.

Nothing is impossible to change in Nigeria, our problem is lack of discipline and political will to get things done. Nigeria is a country where you can break every rule without any consequence. If Nigerians decide to speak with one voice and make sure everybody pays severely for every rule they break, things will start to work out positively.

Nigeria has one of the best rules or constitutions in the world, but having the right minded leaders to implement these rules effectively is our biggest problem as a nation.

I really like the way some of you reason in this thread. Having a dorm account when you are not into any business that needs foreign currency is a big blow to our naira, the more dorm accounts we have in Nigeria, the more useless our local naira becomes. CBN should make it more difficult for Nigerians to operate dorm accounts, but this won't be easy because our politicians are the main architects of these problems. Nigerians have too much dollars in dorm accounts, putting enormous pressure on naira, if CBN doesn't crack this trend down aggressively and urgently, dollar might indirectly become our legal currency, just like we've seen in Venezuela.

Very disturbing develolpment, although most financial institutions in the world are corrupt, but ours in Nigeria is becoming something else. Our system in Nigeria makes it very easy for people to steal and loot public funds with impunity. We should create a system that makes it easier for everybody to monitor everybody, that would make it difficult for people to falsify figures and steal conveniently.

One of the biggest lessons I have learnt from the west, particularly Germans, is how everybody is indirectly a police to everybody, ensuring maximum protection of lives, properties and public funds, and that also saves the govt lots of time and money.

In Nigeria, lots of things are done in utmost secrecy, awarding of contracts in particular. The only time they go public is when some parties are no longer satisfied with the sharing formular of their loots.

ahiboilandgas:
Are we save with dmo debt instruments....The Debt Management Office, DMO is currently enmeshed in corruption scandal, Saturday Vanguard can report. Money amounting to N1.08 billion is alleged to be lost from 2017 till date, thereby raising corruption cases the country is battling.

It was learnt that the large-scale financial wrongdoings in the office would likely draw the attention of anti-graft agency, the Economic and Financial Crimes Commission.

The corruption is allegedly being perpetrated through various means ranging from awards of contracts, operating on temporary files, unauthorized overseas trips, organization of fictitious events, production of fake transport receipts and destruction of official documents.


Chronicle of frauds

In December, 2017, the office requested the then Minister of Finance, Kemi Adeosun to approve the sum of N90 million to cover travel expenses to states for eight DMO Staff to carry out reconciliation of the Paris Club Refunds. Adeosun approved N60 million for the exercise.

The money was released to the DMO via AIE No. CMD/SW/REC/008/2018 dated 12th January, 2018 but the members of staff nicknamed ‘the Task Force’, we gathered, never travelled to any states.


They rather worked in-house to conclude the assignment, using the records already in the possession of the DMO.

It was gathered that the money was subsequently withdrawn in tranches, brought to the office and distributed to the staff contrary to extant regulations

The first tranche of the money, it was learnt, was N4.8 million, the 2nd, 3rd & 4th tranches were released in the sum of N20 million each and N15.2 million respectively totaling N60 million.

It was gathered that the eight staff of DMO who did the work were only given about N2,500,000 each on the average, making a total of about N20 million with the balance of N40 million allegedly diverted.

Incidentally, the money which was an advance payment from the Ministry of Finance to DMO has not been retired till date.

In November, 2019, the office also approved money to be paid for events which included sensitization workshops on “various products recently introduced” by DMO in four commercial cities of Ibadan, Kaduna, Port Harcourt and Owerri. The events and trips, for which a total of N130 million was expended, it was gathered, never existed or took place.

N401.3million paid on contract splitting, media consultancy, using temporary file (T1- T1 million)

@Ositadima, I will take that as a compliment. I never attended a university, after my secondary school in Benin City, I had the opportunity to travel to Germany at a very young age, where I did my industrial training with Jungheinrich as a logistician for two years, and later went to Perugia Italy where I also did one year training with Concetti Group. Afterwards, I also had other industrial trainings in the US where I gained more experiences in industrial logistics and production. I am grateful to God I never wasted four years or more for a university degree that is often overhyped.

ositadima1:
You are lying bro, which sss3 student writes like this. Any way sha, maybe na because I go kpako secondary school. In my class back then if u dey write like this na most to enter uni, and them few.

Apart from Americans having the best and most sophisticated military in the world, the second most effective weapon they have against the rest of the world is having about 70% of dollars in circulation across the globe and foreign countries holding a huge percentage of dollars in their national reserves, their third weapon is ensuring that international oil and gold trade are priced in dollars, "America First".

After the second world war, Americans felt the world owe them a lot and they have every right to dictate world affairs with impunity, they orchestrated and changed international monetary policies to their own advantage and things never remained the same till date. Though they played a critical role in ending the second world war, but they have had enough good time as a payback. Ohhh, sorry I don't want to take us on history lessons.

The US have always used the dollar hegemony to take on nations that does not agree with their political views and foreign policies, they have toppled world leaders and even embarked on (economical) wars for same reasons. I just think it is time to find an alternative currency for dollar, where every country would have a fair playing ground and countries like Nigeria, Turkey or Syria or Iran won't be having economical haemorrhage because they don't have enough dollars in their national reserves.

DexterousOne:
You care to explain the bolded


I mean
Give me your perspective on it

Cos I definitely have mine
Would like to hear yours

University degree in Nigeria is highly exaggerated. Most Nigerians doing very well in businesses never went to university. I've personally never seen the four walls of a university classroom in my life, but virtually none of my friends who went to the university is doing better than me today. We should focus more on vocational institutions, we need more training centres for our local technicians, plumbers, auto-mechanics, welders, fashion designers, carpenters, etc.

It is really heart-wrenching to know that some states in Nigeria today have more than 8 (ill-equipped) universities and don't have any vocational institutions for the youths. Education and Health centres should never be built by govt or individuals for profits, because these are core institutions that have more to do with humanity rather than profits.

The Igbos are one of the most successful tribes in Africa today due to their ability to learn a hand-work or trade, regardless of their background. University education shouldn't really be for everybody, I am not saying it is bad to get a university degree, but you can still excel in life without one.

It will be counterproductive for EU to directly confront dollar's hegemony, because both EU and US have lots of treaties that binds them more than any other country or continent on earth. But EU is secretly hoping and praying that China pulls the last straw that will finally break the camel's back, China is also hoping and praying for Trump to win next election, Trump's foreign policies makes it easier for dollar to be replaced with something else that will fairly favour every country on earth.

EU is doing well in tackling dollar's hegemony in their economy, but watchout for China. China is more frustrated with the dominance of dollar than any country on earth, that is why they are working on their own digital currency and will definitely carry a lot of countries along with them, leaving dollar in a sorry state. One of the reasons Trump is ensuring US companies take over Chinese companies, particularly in high-tech sector.

ojesymsym:
I do not think CBN has funded any of these things in recent times, or have they? They do not even fund BDC for now.
As for food chains and co, it seems to be in line with conglomenrate (logobens) position also.

As for the pegging of nation's currency with dollar, only Europe has the boldness to want to use another currency, any other nation that tries it will go the way of Saddam Hussein and Ghaddafi.

Lol, It is a gradual process, industrialization doesn't happen overnight. I really like the steps our Vice President is taking to boost small businesses and avoid recession, we will get there, it is a matter of time. Though corruption remains our biggest threat to promise land.

Nigsrdumb:
I thought someone said when Naira devalues it will spur industrialization.

We are now at 475, i haven't seen new companies springing up yet, infact some are planning to close.

Oga ahiboilandgas, you have made some valid points. Nigeria should work hard to put things in order before it gets too late. This is exactly why it is somehow risky to have portfolios in foreign currencies in Nigeria. FG could default in paying eurobonds and others, but certainly not those with naira investments.

On the other hand, dollar is holding the entire world hostage, not just Nigeria alone, and this had been going on for so long... China, Russia, EU and other world powers are already making progress to do away with dollar's hegemomy. Virtually every country has a problem with dollar against their local currencies and the rest of the world has had enough.

FG should allow Emefiele sanitize our monetary system, Emefiele and team certainly knows how to protect our economy and naira, but Emefiele don't have words of his own, I used to believe CBN is an independent body of its own, not until this present govt came onboard. Soludo and Sanusi made lots of decisions on their own to protect our monetary policies, but we are yet to see Emefiele make such bold steps without receiving calls from Abuja.

I don't think we should be worried about Chinese loans and other foreign loans at the moment, things are still under control, but we mustn't throw caution in the air... If we had invested all these foreign loans judiciously, building critical infrastures, we ought to have been doing well paying back the loans from profits gained from these infrastructures.

I've seen it, thanks boss.

ozymes:
The circular is there

I spoke with a friend who is a staff in NIPOST, he said they are having a serious underground battles with FIRS on who should collect or be in charge of duty stamp charges. Does it mean NIPOST and FIRS no longer know their various duties to the nation, who should be responsible for the collection of duty stamp charges? My friend said both agents will soon start to wash their dirty linen in the public, with lots of corruption and siphoning of funds, and the case of NDDC is nothing compared to what is about to hit the media, particularly from FIRS.

A country where doctors work as accountants (NDDC), lawyers work as engineers.. everything just dey jagajag for our country.

Very good, but I couldn't find it on their website.

ahiboilandgas:
DMO resumes FGN SAVINGS BOND Offers

Well said.

emmanuelewumi:
We thank God for everything.

If only we have a govt that understands the differences btw hate speech and peaceful protest. Buhari govt is not smiling, they know the masses are sick and tired of their govt and could be provoked to engage in a revolution.. So all the security agents are at alert.

ahiboilandgas:
demanding good governance for all is not hate speech

I wanted to encourage my workers and friends to join the protest today, but when I realised that the penalty for hate speech had been increased from 500k to 5m, I need to restrategise my decision.

I am not too comfortable when people say Nigerians cannot thrive to sustain a business for several generations. Nigeria is gonna be 60yrs old in two months time. How many private businesses or companies did we have in Nigeria before and after independence that didn't survive till date? I know Nigerians are not the most disciplined folks on earth, especially when it comes to money and business, but we must also understand that there are small scale businesses that have succeeded several generations, these businesses might not be popular enough to know they had existed successfully for decades.

Before and after our independence, farming was the major business in Nigeria, I bet that there are still successful farmlands all across Nigeria that have survived for decades from one generation to another. My family is still farming on the same acres of lands my great-great-grandfather farmed on.

Now that Nigeria is learning things the hardest way, and about to enter industrial era with indigenous entrepreneurs, as from the year 2060, we could judge Nigerians ability to sustain businesses for generations.

If we don't waste few minutes/hours to protest for our right and good governance, we will waste our entire future in misery.

maishai:
Oga mi, no waste ur time

Shoprite cannot leave Nigeria now, they have built a strong market influence in Nigeria, but they need some overhaul. I am a bit pleased that Nigerians are beginning to embrace local products, though at a very slow pace. FG should set up a more aggressive campaign for Nigerians to patronise local products, that seem to be the only way out of our economical woes.

States/regions should compete on setting up local factories and industries, we know there are challenges, but we all must play our role.

Our local market is so big that we don't necessarily need FDI, some FDI could be more of a burden than asset to their host countries.

Few years ago, FG wanted to issue a license to foreign flights to operate local in Nigeria, just imagine how devastating that would had been to our economy and indigenous flights today, thank God for Air peace management and other local airlines who stood their ground against the idea to issue license to foreign flights. At the moment, local flights in Nigeria is now one of the best in Africa, some states are even getting ready to launch their own airlines.

Very unwise statement. We are busy talking about the betterment of Nigeria as a whole. What is the importance of tbills at 18% if you don't have good roads, constant electricity supply, affordable healthcare and good education for your children and security? Treasury bills rate at 30% becomes useless without these basic facilities.

That is why in Nigeria today, no matter how rich you are, you somehow still feel poor and unsecured inside you.

gaeul:
See what Treasury bills thread has been reduced to...When a house is abandoned...Rat and reptiles take over....I pray rates get better soonest...so this thread can come alive again

You have all spoken well with the best interest of Nigeria at heart. Lots of Nigerians do pay taxes, but those taxes are going into wrong or private accounts, govt must ensure that Nigerians are paying taxes to the right agents with accountabilities.

Some states have more than 5 different tax agents with funny names and uniforms, they are all thieves. FG must sanitize our tax system, not just increasing tax revenue. Many Nigerians will be glad to pay taxes once they start seeing how their tax money is being used judiciously to develope the system.

maishai:
I currently stay in a remote village ,Imagine Giving out a bike on higher purchase to deliver #3000 daily, before 8am in the morning He has paid #900 in all manner of tickets, The least he gives Police daily is #300 and on market days VIO must collect #500...............Can You now tell me this poor bike man is not paying his taxes.........On the best day of his life riding he makes about #7000

Now He is a regular on this route, woe betide him that he tries to evade this taxes and he does not pay the next day........ That Bike is Gone




All I am saying is that You cant function commercially in this country without paying a form of tax or the other, Government just has to become more accountable for the ones they are collecting