When you answer why everyone wants to associate with Yoruba, you will get answer to your question. Someone said they are unserious people who have 50% Christian and 50% muslim lol, what does that imply? Sense and tolerance.

If religious war is to break out in Nigeria today, only Yoruba people will be unwilling to go to war, why? Every family in Yorubaland has people who practices the two religions. It talks more about people who can live harmously with others no matter what. It is only when a bastard among them show face that they now take a firm position.

Entertainment (Music, movies)
Education
Politics
Legal sector
ICT
Banking and finances
Oil and Gas
Rich culture

Tell me where other tribes beat Yorubas in the aforementioned areas. If you want to be a fool, do it codedly.

If I talk now, Nairaland will place 10 years ban on my account...if you are in that region, your 5 senses must be at alert, else, you're a gonner.

RIP Zulu

RIP Zulu

jmoore:
Any toll gate?

Can you why me why Lagos-Calabar coastal road will be tolled??

Igile:
Everything is highly regulated in Dubai

Everything is highly regulated elsewhere but Nigeria. But if it is Nigerian government sounding this warning, many people will critisize the FG.

Qwerty

Vnklnb

Dhjm

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Geovanni412:


I didn't mention it because the chances of that happening are minimal

However, if interest rate is reduced from that 24.75% by 300 or 400 basis points, that means the policies are working and prices of goods will substantially reduce

That would be a miracle- the type no Nigerian who is 50 yrs or younger has seen.


More info:
-https://www.nairaland.com/8042657/mpr-other-economic-metrics-explained
post by Donproject2 explaining Monetary policy key terms to note

Well, the ultimate plot is, increase the MPR to decrease the inflation rate, if this works, then reduce the MPR.

worksmart:
Please this is confusing to me.
Foreign currency can be used as collateral?

If you you have foreign currency why do you need a loan?

It seems like nonsense to me!

The trick is, they have their money in dollar, which they don't wish to sell, knowing fully well that dollar always appreciate against naira. So, instead of converting their dollar to naira, they will rather borrow naira and use dollar as a collateral, which is safe for them.

Geovanni412:


The opinion about business and productitvity is valid

Until CBN reduces interest rates in their monthly meetings, no sensible Nigerian should rejoice at the change in exchange rate

If I borrow at 22% to manufacture, I have to sell at a higher margin to break even compared to the China guy borrowing at 3-4%

An increase in interest rate also affects the borrower's repayment plan to the banks.

My take is this :

Nigerians should Wait till next CBN 's monetary policy committee(MPC) meeting on May 20, 2024

If they announce another increase in basis points or interest rate from that 22% , expect more manufacturers and companies to shut down and this could lead to increase in prices of goods regardless of whatever the dollar is selling for.

You didn't talk about the good side of it...I have a thread here on Nairaland where I talked about pros and cons of increasing MPR. Perhaps, MPR has been increased to 24.75 in the latest MPC held last month.

AbuTwins:
Ogun- A State in Nigeria!
Ogun- War
Ogun- The god of Iron
Ogun- Inheritance
Ogun- Twenty in Yoruba
Ogun- Medicine/Drug
Ogun - Charm

Omo Ogun Ise ya!

Drive safely and May Allah protect us during this celebrations!

On my way to Ogun State in some hours!

Ogun - Sweat
Ogun - Long
Ogun - Grind

Angelfrost:


Yep... You don't seem to know these criminals in power.

Instead of them to announce general electricity tariff increments, they are using the backdoor to do it while on paper claiming otherwise.

Shebi I kuku know their tactics...

I love Nigeria though, but you have to cater for everything you need to be comfortable...

Angelfrost:


Band A sir.

They are coming for everyone... No one will be spared.

All of una don enter Band A!

Band A keh, for 6 hours of electricity in 2 weeks that even comes with low voltage at times...

Lubbish

Easybet1:
Na band Z be that

I doubt, the letter to our Band may not be in English alphabets again...may be we need to look for it in Greek alphabets.

Please o, we that only have like 6 hours of electricity per 2 weeks, what band are we??

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Reserved.

What is MPR?

MPR simply means Monetary Policy Rate, it is the interest rate placed on your fund when you borrow, make fixed deposit, or invest in treasury bills.

How does its increase impact our economy?

In economics, for every good effect, there is always corresponding bad effect.

The Good.

1. Borrowing: MPR of 24.75% means interest rate of borrowing from banks will increase, this will force people to borrow less, reducing money in circulation. If there is a decrease in money in circulation, there will be decrease in demands for goods and services. This will in return make the prices of these goods and services to fall, law of demand and supply.

2. Attraction of foreign Investors: If foreigners see that they have a good deal (high MPR) if they invest in Nigeria, either direct or portfolio investment. They will commit their hard currencies to Nigeria which will be a big boast to our economy.

The Bad.

High MPR means people taking loans from bank will have to hike the prices of goods and services they render through the borrowed money.

Why was MPR increased in the first place??

Increased interest rate generally leads to decrease in inflation rate.

High MPR is a plot to reverse the forward movement of the inflation rate.

The MPR as we speak stands at 24.75%.

Though, MPR was recently increased, CRR still stands at 45%, Asymmetric Corridor remains at +100/-700 basis points and Liquidity ratio unchanged at 30%.

What do these figures imply??

1. Cash Reserve Ratio (CRR): For every money deposited into a particular bank in a previous working day, CRR of 45% will be sent to CBN. Meaning, if a bank gets total deposit of 100M naira in a day, 45M naira from the fund will be sent to CBN to be kept for them.

2. Liquidity Ratio (LR): For every money you deposit to your bank, 30% of the money will be kept for you in the vault in case you need to make withdrawal, the remaining 70% for other purposes.

3. Asymmetric Corridor (AC): CBN and commercial banks do business too. Banks can get loans from CBN and they can also keep their money with CBN.

The Asymmtric Corridor which now stands at +100 /-700 basis points will be used to calculate what interest rate CBN is placing on loans giving to banks as well as interest rate CBN is giving the banks if banks fund is kept with them.

For loans taking by banks from CBN, 25.75% (24.75% + 1%, which is +100 AC) interest rate will be imposed on them.

For fund kept with CBN, banks get 17.75% (24.75% - 7%, which is -700 AC) interest rate from CBN.

The Twist

If MPR is 24.75%, CRR is 45%, LR is 30% and AC is +100/ -700 basis points, what effects do these have in our economy??

Let's see what happens to every N100 you deposit to your bank.

N100 to your bank
N45 (CRR) will be sent to CBN
N30 will be kept for you for withdrawal.

The remaining N25 will be available for loan and few others.

If N25 is available for loan from the initial N100 you deposited, banks will be short of enough cash to give out for loans. This is good to reduce money in circulation, I explained the effects this will have earlier.

For the remaining N25, your bank can either borrow individuals at an interest rate they will calculate using the MPR of 24.75% or keep it with CBN at 17.75% interest rate.

These numerous strategies all have one thing they aim to achieve, reducing the inflation rate which currently stands at 31.7% as at February 2024.

Also, placing high MPR on loan you are taking from banks reduces money in circulation as well.

Inspirer1:
Implications?

I have done the analysis of the implication somewhere before.

Nnj

shadrach77:
How did countries like US, UK and Canada have several languages? I thought it's only English they speak

Migrants

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MyExpression:
Contract ends upon payment/receipt.

It's It's longer your property...you can only charge security fee for the 2hr demurrage.

Nothing concern dollar for this one...but the good thing is...as long as item still dey ur shop, you can breach the contract and stay execution.

...and he can sue you for every value of that 1.6m within those 2hr you had his money in your custody.
If you want him to pay the current cost of the doors, then you have to refund the current monetary value of the 1.6m he gave you 2hrs ago.



You think say you dey wize!

You aired my view already...if anyone tries this with me, I am getting the current time-value of that money sent to him if he wants to refund me. Shebi nah stupid the seller wan stupid.

Simply commendable

Anybody who lives or works in Lagos can testify that this Lagos is a state to be. One of few things I don't like about the state is dirtiness and lack of good maintenance to majority of these infrastrutures.

Long live LASGIDI.

This is how it happens in every sector, betrayal, business heist. Everyone is just trying to get to the top of the ladder, by all possible means.

Recapitalization under Obasanjo brought tears to some, laughter to others. It is about who knows who and who knows the rule of the game but doesn't follow it. Small business buying big ones, you will wonder how on earth is that possible, in Nigeria's crime, that is in fact order of the day.