₦airaland Forum

How is Binance guilty of tax evasion in Nigeria? Do they have a Nigerian office? So if I buy stuff from Lenovo in the US, Lenovo owes Nigeria tax?

Also on the court order and detention, which came first? You invited someone to talk. They came and you arrested them. Good luck getting any foreign company to come and talk to you in Nigeria. Speaking of which, has Twitter built office in Nigeria yet?

I hate when our collective intelligence is insulted. This is a distraction. Solve the problem of poor standards in Nigeria, security and availability of food.

He should really be focusing on his books. If this was my son, I would be giving him similar advice. Females can be a distraction to progress. However there is a catch - if he finds a woman that is a support and that both of them will tread the same path to intellectual and personal progress, hold that woman tight. I will personally be willing to sponsor it.

chillykelly86:
Or when the company goes bust. Abi I should off the mic 🎤 ?

True.

vacanci:
you are right but when you are caught in the web, this notion will erase from your mind.

imagine for example you have about N10 Million locked in Multiverse. You then have an opportunity to buy a house on distress sale for about 8 to 9 Million naira. You are confident to seal the deal because you have stocks valued above that. You hit the NGX to sell and buy the house.

Guess what, one month later you are still not able to sell. na that one i go take dey console myself say " I only make profit or loss when i sell?"

It's always good to be in a liquid stock or jump out early when the ovation is still loudest instead of reaching destination of no return.

i pray you do not experience being stuck in a stock when you need an emergency exit

How has what you written invalidated the comment? If you cannot sell you cannot claim you have made profit. You might as well have 100 million shares of crap as no one else wants it.

vacanci:
the problem is one can get trapped.

Imagine those investors in Multiverse who have been trying to come out for the past one month. total traded value yesterday from 6 deals only was N21k. You spot opportunity elsewhere and want to sell multiverse to key into such opportunities just like when MTN got to N180. Multiverse trapped you inside.
Yesterday also, Champion breweries, only 3 deals with total value of around N5k.

Look at McNichols, after the price went up many days and hit the top, coming out was a problem until it went back to where it started from before we started seeing bids.
Mecure has trapped investors wanting out as we speak. remember how it was flying high and jumping 10% daily for weeks. Yesterday's total traded volume was just 21k

so many stocks like that will do people shege.

Climbing up is not the problem but when you want to come out, it's a big problem especially when you are invested with huge fund.

my advice to penny stock wannabe investors is to use penny amounts to buy penny stocks. Imagine someone queuing up very early trying to sell about 1M units of Mecure or Multiverse. it would take more than 2 weeks of others waiting if the 1M guy gets in front everyday.

I learnt my lesson when i tried to jump out of one penny stock with N800K value to invest in an opportunity elsewhere. i remained trapped while the other stock which was a highly liquid one made 30%. As i speak, i am still trapped but the paper value has gone down drastically by about 50%.

As for me, i learn't my lessons

One only makes profit or loss when one sells.

Has NDDC actually delivered anything?

They can arrest Binance over flimsy excuses anyone can see through. Here is a proper cyber crime. I fully expect some arrests over this. This is a violation of privacy.

The two of them are foolish. They are both adults and know the right thing to do.

It is a force majeure for them. They are not responsible for the poor network.

flokii:
She is a stvpid girl.. that she is mourning her family members doesn't mean she should not have regard and respect for authority.

What authority? The elected one?

At times we need to knock our heads, we are good at majoring in the minor and minoring in the major.

ShoeGetSize:
First of all, in the interest of fair disclosure, I must state that I am not an Obidient. Not because I have anything against Peter Obi as either a politician or a human being, but because I think Nigeria's problems are too deeply rooted and structural to be solved by one man, no matter how well intentioned he may be.

Having said this, permit me to lay the following foundation before I ask my question:


The Manufacturers Association of Nigeria (MAN) has just announced that in 2023 alone, over 700 companies shut down.

The number of companies and businesses in Nigeria that have become either paralysed, comatose or in the verge of collapse since 2015 is so large, that even the NBS (National Bureau of Statistics) is too frightened to put a figure on how much has been lost.

Food trucks carrying provisions from farms to markets are getting hijacked and attacked every day;

Farmers are paying taxes to Fulani Herdsmen, Boko Haram and ISWAP and become of this, many of them have chosen to drastically reduce the scale of their farming activities to just cater for themselves and their families;

Fulani Herdsmen came from nowhere in 2015 to become the 4th most dangerous terrorist organization in the world and they have been flourishing in Nigeria ever since then;

Even before the alleged "floating" of the Naira (which is a scam because the naira is still being sold at controlled prices to certain "privileged" clientele) prices of goods and services were already far beyond the reach of the average Nigerian;

We were told that we wouldn't feel the impact of fuel price devaluation because there was a saviour called Dangote Refinery which would do away with the need to refine Nigerian crude oil using scarce foreign resources. We were made to believe that Dangote's Refinery is here to save the day and we will soon be scooping refined petroleum at rock bottom prices.



So my question is: Of all the problems I have mentioned which have crippled and ruined Nigeria's economy since 2015, which specific problem is Peter Obi responsible for creating?

I would like intelligent answers to my question, but if that is too much to ask for, then I will gladly settle for an honest opinion.

They know the truth but will not answer you. To them, stomach infrastructure is greater than the truth.

Only question for me is will MTN's price fall more? They are a good company.

They detained people without trial and seized their passports. Foreigners including an American citizen? After you invited them and you want to attract foreign investment. Lol. There will be consequences.

And yet we have foreigners looting and mining our gold and other minerals with police escort.

Tareq1105:
Obi is insincere and very surreptitious.

I wouldn't say that. My disagreement has nothing to do with his character more of my position that Nigeria needs to find who is behind the black market and break the speculation. Black markets are based on speculation not reality.

Tareq1105:
They get it through some unscrupulous Bank officials involved in round tripping and arbitrage, and through some returnees who arrived from abroad.

Most of the BDC are not registered.

BDC operators are no longer allowed to be hanging around.

They're to:

Get registered,

Recapitalize to #2b,

Get license,

Get a registered office address,

Stay in your office not roaming about,

Wait for customers in your office,

Keep records of your operations for Audit purposes,

Take BVN / Int'l passport Data page / NIN of every customer,

Complete a Request Form where purpose of buying or selling of dollars would be stated,

Pay their dollar or Naira (as the Case may be) into their local bank account or domiciliary account (not cash),

If traveling abroad, you only get $500 cash while balance of BTA for $4,500 would be cashed when you get to your destination.

Registered BDC operators have computerized their operations now (it's in the new CBN regulations),

BDC operations be linked with regular banking operations,

Submit your operation records for CBN inspections twice monthly.

This is what CBN is simply asking for. No reasonable president would sit down and watch his currency being destroyed by speculators.

Operators hanging on the road would be arrested and charged for economic sabotage. If you want to travel, don't stand on the road, enter the motor park.

I agree with the required changes to their operations. I can think of no other country where the black market operates so brazenly. The naira is under attack from speculators. Couple that with the CBN's previous actions and you get this situation you are in.

Peter, I don't agree with you on this.

Are you ignoring Deuteronomy?

Tallesty1:
This Igbo man again

And if he is Igbo?

Malroux:
I can bet that this woman used to beat Aketi when Aketi was alive. The way she controls Aketi said it all.

How old are you? Are you married?

This man talks dangerous talk. He hasn't learned.

As for those of us who still allow themselves to be separated by Igbo, Yoruba, Hausa etc - you also haven't learned. There is no tribalism among those who are looting the country.

Think9ja:
What is their offense?

Is it that they didn't pay custom duty or because they wanted to export it?

I do not care if the entire country is dying of hunger and starvation, if there is a higher bidder in Niger, I will export my goods to Niger to sell.

Anybody that is hungry should go and farm like other people are doing.

For decades, we've bastardized farming and farmers, seeing it as what only poor and illiterate people should do. It's either we all go back to farming, or we allow the farmers sell to the highest bidder from any part of the world.

Just now that it's their time to start cashing out, it's become an issue.

Let the farmers breath

You do realise that Niger and Nigeria are not on peaceful terms currently. Sometimes do not let emotions drive you to talk but reason as well.

Hmm it requires some more work. This doesn't look like a tech habitat. Where is the power supply? What deals have been done to support this building? The heart is there but the execution is poor.

OkoAmarashy:
What's you gonna do about it? Give ultimatum, cry like kids or get the fok back to your small enclave?

Doesn't diminish the silliness of it.

This is silly.

And yall are expecting price of fuel to go down when Dangote's refinery is running.

tunjijones:
Nigeria is totally condemed. I don't think there is any way out. I don't see it getting better anytime soon.

It's not even about Tinubu, or Atiku or obi, it's about the system. If the system of governance in Nigeria is not changed or reformed. Things wld keep getting worse.

Have anyone noticed that the previous administration is always better in Nigeria. Things keep getting worse after each administration.

One consistent thing is the civil service at all levels.

Yes

The very people destroying the economy are asking questions. They must really take us for fools..

I heard this. My view

First of all my sympathies and condolences to those who have lost loved ones

Secondly I agree that fire should fall on those who are behind the dastardly acts

However thirdly fire should fall on the traditional leaders who are also behind this and also the evils in our land. I have no love for people in authority who abuse their office to rob their people.

And you wonder why Naija is in trouble ...

President General? What kind of title is that?