₦airaland Forum

Swap It, Don’t Break It

Imagine you are China. You sell a lot of stuff to the world. In fact, your whole economy is based on selling things to the world. You have an incentive to make trade as smooth as possible with other countries especially when it comes to making payments.

Swap It

But you have another dilemma. You are not a wholly open economy. You like to control your currency as much as you can to make it undervalued in a way that benefits your manufacturers. If you let the currency trade freely like the dollar or Pound, the market will probably value it higher than you want which will make your products more expensive.

So, the way you can achieve this is by tightly controlling the amount of your currency that is available around the world. Unlike the US dollar that is widely available around the world to the extent that countries like Ecuador can decide to adopt the dollar as their currency without getting permission from the US, you can’t do that with the Chinese Yuan.

These 2 issues — trading with the world and tightly controlling the circulation of your currency — are in tension with each other. So how to solve it?

A Simple Story of Swaps

Or if you prefer the ‘technical’ name — Bilateral Currency Swap Agreements. Depending on who initiates the swap, a simplified version will work something like this.

Nigeria wants to make life easier for its traders who buy a lot of stuff from China. As Nigeria doesn’t sell much to China, it is not easy for the CBN to build up Chinese Yuan reserves. This means that for any trader who wants to buy stuff from China, they have to get prices in dollars. This adds costs and risks given that the person in China giving the quote has to convert Yuan to dollars before sending to Nigeria, bearing in mind the risk of currency moves affecting his bottom line. The Nigerian guy then has to buy dollars to make the payment to him. From the point of view of the CBN, this is extra dollar demand that can be avoided.

So CBN approaches the People’s Bank of China (PBOC) and asks to set up a swap. Xe.com tells me that 1 Chinese Yuan is currently worth about N30. So for the sake of simplicity, let’s say CBN offers to swap N30bn for Y1bn. Both of them agree an exchange rate on the day of the swap (N30 to Y1) and they make the transfer.

Now that CBN has some Yuan, it can then sell it to Nigerian banks in the same way it sells them dollars. The Nigerian trader can then tell his Chinese trading partner to give him a quote in Yuan instead of dollars. Once he has the Yuan quote, the trader can then go to a Nigerian bank and make a request for Yuan in the same way he used to make requests for dollars. Instead of the headache of dealing with 3 currencies, the dollar element is now removed and we have a normal 2-way quote.

This takes off some dollar demand pressure as people who want to buy stuff from China can face their Yuan squarely while the dollar people face their dollars. At least we get to know who is who. All of this is, of course, conditional on the amount of Yuan being swapped.

But what are the Chinese guys going to do with their N30bn? Same thing — they can now pay in naira for anything they buy from their Nigerian trading partners.

Chinese Swaps

For a number of years now, the Chinese have been entering into these swap agreements with various countries on a country by country basis. The swaps typically last for 3 years after which they are renewed and/or increased. As an example, in 2012, the UK signed a swap agreement for Y200bn with China. Last year, it was extended and increased to Y350bn.

The map below shows the countries that had swaps with China as at 2015, per the PBOC

China Swaps

China’s bilateral currency swap agreements with other central banks — 2015

And here’s a table with the agreements and amounts swapped.

Swap Table

China’s swap agreements and its counterparties — 2015

As you can see, Nigeria is coming very late to the party. Perhaps, this might open the gates in Sub-Saharan Africa. It’s also clear they are done on a country by country basis depending on the amount of trade that goes on between them (although the exact correlation is not so easy to work out).

You’re probably asking — if the agreements are for 3 years, what happens at the end? In theory, both countries simply exchange currencies at the same exchange rate they used at the beginning of the swap. Returning to the example above — Nigeria will return the Y1bn to the PBOC and take back its N30bn from them. If this sounds too good to be true, it is. The person who initiated the swap will pay interest on the money it received at an agreed interest rate.

So What Did Nigeria Swap?

Given the above, inquiring minds probably want to know how much Nigeria swapped with China and when does the agreement begin? Well, this is Nigeria and nothing is ever straightforward as it should be.

Buhari Xi

“Nice to meet you, President Eleven Jinping”

First of all, it appears that the swap Nigeria entered into was with the Industrial and Commercial Bank of China (ICBC) — the world’s largest bank by assets. That is, the CBN is not dealing with the PBOC but with a ‘private’ Chinese bank (ICBC is owned by the Chinese government).

Second, I have trawled the internet and cannot find the amount that was or is being swapped. As you can see from above, there has to be an amount swapped for it to make any sense. I have searched Chinese news outlets and even ICBC’s news page and cannot find anything on the swap let alone the amount. The news appears to have originated from Nigerian officials who briefed the media. In contrast, Dangote did get a $2bn expansion loan from ICBC and this was announced.

When They Come Back Home

So that’s that about that. Perhaps when they come back home from China, we will get more details from them. But based on this, we know what questions to ask (I’m talking to you Nigerian journalists).

Why was the swap signed with ICBC and not PBOC? How much is being swapped and for how long? And (bonus question), what is the interest rate to be paid? (We can assume the CBN initiated the swap and will be the one to pay interest on the Yuan it receives). How will the Yuan market be priced? Will it be another ‘official’ and parallel rate mess like we currently have with the dollar? This is a trick question because, if it is market priced, we shall have plenty of fun with the contradictions in pricing the dollar ‘officially’ and the Yuan by the market.

But that’s enough speculation for one post

FF tweets via @DoubleEph

This piece was initially published on Medium.com. Republished here with permission from the author.
source: http://www.africanliberty.org/feyi-fawehinmi-how-to-make-sense-of-nigerias-currency-swap-deal-with-china/

This mindboggling article written by some concerned Nigerians is one to ponder upon. Read below:

Some Nigerians are jubilating over $2b loan from China and the so called Yuan trading deal.
China wants to lend us 2 billion dollars, but they want to give us in Yuan and not the dollar itself.
They are not handling us cash, but service exchange; meaning if we want to buy iron rod, we buy it from Chinese company and they pay the company on our behalf. If we want to construct railway, they will construct it for us and take the money out of the loan. In the end, we are bound to award contracts to them, cutting out competition from others and fairplay to others (non Chinese company can’t bid or compete to reduce the cost.) They get to value the contract and determine the price, meaning they can sell something worth 200 Naira for N2000 and we don’t have a choice ‘cos it is on credit.
The worst of it is that China want us to pay back in dollars, that is not all, we are moving our foreign reserve to fake currency(Yuan) a currency that is manipulated openly by the Chinese government. Did anyone ask Lamido Sanusi what happened to some of our reserve he moved to Yuan few years ago? They sold us Yuan at 4 to a dollar, only to devalue their currency few weeks latter to 9 Yuan per $.

Many Nigerians don’t know that even Chinese company don’t want yuan, nobody want it, Chinese foreign reserve is in dollars, China is the largest holder of US bond, they want dollars by all means.

Also, China have more lobbyists in Washington DC than any other nations on earth, begging Washington politicians to always make policy in their favour, how can such country save us from USD?

Has anyone asked why China hasn’t built any refinery in Nigeria?? They have the money, they want the profit, but never did it.

If China does anything against Washington interest in Nigeria, USA have too much political power over China, they will just tell them not to do it. China will continue to inflate the contract price, refuse to complete the project and deceive us further.

I don’t blame Chinese leaders for trying to scam us, I blame our leaders for not being smart enough. What do you expect when you have political hacks negotiating on behalf of Nigeria against smart professionals from China. I was thinking Nigeria political leaders will do research about Chinese lobbyists in Washington and understand the interest they are protecting before believing in Chinese version of Trojan horse.

We are the only one that can help ourselves, let’s implement true federalism system and free market. Development is a culture and not a product, we can’t buy it no matter how much money we have or borrow..

You must be living in a PARALLEL world if you think that Nigeria’s intention of being a clearing house for the Yuan in Africa means the naira will now hold steady.

If you like tie your currency with Thailand Baht or Ghanaian Cedi, the value of your currency will always have the value it deserves.

Hong Kong for instance is an administrative region of China, but guess what, its currency is firmly tied to the US dollar!

The Yuan is not automatically going to be operating independent of the dollar to boost the naira in any way.
The only thing that has happened here is that the Yuan becomes an accepted currency of exchange to facilitate direct business with Chinese people. This will not in anyway strengthen the naira but the gains will be in the avoidance of double exchange from dollar to Yuan.

The Yuan will swing with the wind depending on what happens to the world’s controlling currency , the dollar.

The naira will continue its natural slide as you produce and export very little and even your trade with China becomes very expensive as the world’s comparative exchange rate will not wait for the Naira/Yuan pretend marriage. The value of the naira will continue to be subject to the international exchange rate, which is controlled by and inextricably linked to (you guessed it?) the DOLLAR!

The silly idea that this arrangement could crash the dollar is only palatable to people living in a cocoon, in a cuckoo land (Nigeria), with a totally warped sense of reality.

The real winners here are the Chinese who have found another place to ship their milling population to recolonise on the cheap.

Nigeria has taken the path of double parallel which will be unsustainable in the medium term as a consumer nation.

The naira will continue to fall unless you can sell more oil or start exporting something the rest of the world would pay you for.

My projection for the naira is 500 to $1 by year end if the oil price does not improve drastically and we sell oil, the only thing we ‘produce’.

By Economists
M. Amuchie & G. Otobor.

http://xsouth.com/china-just-scammed-nigeria-and-buhari-had-no-idea-a-must-read/

After breaking a twitter record for the quickest person to reach one million followers in just four hours, Caitlyn Jenner, formerly known as Bruce Jenner, has announced that he regrets becoming a female and wants to be a man again. Caitlyn Jenner has reached massive publicity in the last few days after his/her appearance on the front cover of magazine Vanity Fair. Caitlyn Jenner has even won the ESPY courage award, somehow. Well it seems as though Caitlyn cannot handle all the publicity. Caitlyn told reporters “I’m going to be honest, I regret my transformation, I have no Idea what I’m doing, I miss being a man.”, said Caitlyn. Caitlyn did not reveal when she/he would undergo the transformation back to a man. We will update you as the story unfolds

Read More at www.hotglobalnews.com/caitlyn-jenner-regrets-transformation-will-become-a-man-again-soon/

Youth Empowerment!

Gov Oshiomhole is raising Spider men in Benin City.
Students now climb the walls on their way to School.

Bisi Akande: Yemi, that lie that past Government did not build any road was too much keee. Ahaaaa, what rubbish is that? Haaaaaaa

Tinubu: in fact I did not believe it when I first heard it, that was too much

VP: I thought it will sell niiii, will get another one soon

I was a Barber for over 10 years on and off and throughout my university days but today to the glory of God, I make at least a million naira monthly. I also worked as an academic before God blessed me with the current job am doing.
one of my greatest struggles in life is to trust the people that did not believe in me when I was struggling.
As I speak some ladies that knew I was a good guy but chose to look at my financial status then, are literarily begging me for a chance even though they know am married. My point, if you love a guy and see a future in him then you have got to believe in him and be by his side on the road to destiny. That is if he is a good guy, o!
My only regret in life is that I am not able to marry the one lady that truly loved me and believed in me... may God bless her with peace progress and happiness. Someone else married her when I was still in the university but I understand with her even now. I respect her. I mean she told me consistently, that she believed in me. That I am a great man. I guess her prophesy came true.
When I meet ladies nowadays, I tend to just see through their facade as people who want a product without a process.
You can collectively motivate and support each other to reach a beautiful future.
My ten kobo!!

I was a Barber for over 10 years on and off and throughout my university days but today to the glory of God, I make at least a million naira monthly. I also worked as an academic before God blessed me with the current job am doing.
one of my greatest struggles in life is to trust the people that did not believe in me when I was struggling.
As I speak some ladies that knew I was a good guy but chose to look at my financial status then, are literarily begging me for a chance even though they know am married. My point, if you love a guy and see a future in him then you have got to believe in him and be by his side on the road to destiny. That is if he is a good guy, o!
My only regret in life is that I am not able to marry the one lady that truly loved me and believed in me... may God bless her with peace progress and happiness. Someone else married her when I was still in the university but I understand with her even now. I respect her. I mean she told me consistently, that she believed in me. That I am a great man. I guess her prophesy came true.
When I meet ladies nowadays, I tend to just see through their facade as people who want a product without a process.
You can collectively motivate and support each other to reach a beautiful future.
My ten kobo!!

The musician surrendered to a battle with cancer this morning at Groote Schuur hospital in Cape Town. Before he died the 36-year-old gay musician and socialite has confirmed that the anal cancer he was diagnosed with in 2012 has returned. In the recent past Bala has staged a brave fight against cancer and had been diagnosed HIV positive. Speaking to the publication, Bala said: “I went for chemotherapy for six weeks and a radiation programme two years ago, but the cancer came back severely.”

Bala, best known as a member of defunct gay trio 3Sum, in 2012 underwent an operation to remove piles. He was, however, following tests told that he didn’t have piles, but cancer. He was at the time treated with radiation and chemotherapy for six weeks, but his doctors recently referred him to physicians at the Victoria Hospital in Cape Town, where he will have surgery in the coming weeks.

“I was referred to Cape Town to do the operation by doctors in Johannesburg. The doctors told me they were surprised [I had the cancer] because it is something that is more prevalent in women,” he explained. Bala was diagnosed with cancer a few months after he publicly admitted that he was HIV positive, a period in which he also lost his mother to a stroke.

Speaking for the family longtime friend and housemate Ephraim “Ephymol” Molingoana told Sowetan Live that Bala always kept a positive outlook and remained strong throughout his illness. “We are devastated and in state of disbelief,” he said. The flamboyant 37-year-old was a member of ‘bubblegum pop’ group 3Sum along with Jeff Moyo and Amstel Maboa. Bala had hinted at a comeback to the music scene when he posted a picture in studio captioned “Let’s go back to the beat”.

Maboa is now the only remaining member of the group as Bala’s death follows that of Jeff Moyo who was laid to rest in 2010.



http://www.number1life.com/2016/03/07/mzansi-mourn-the-death-of-a-singer/

Fuel scarcity across the country has continued unabated despite President Muhammadu Buhari’s government’s efforts to tackle the short fall in the supply gap of the product.

From May 29, 2015, Buhari’s government has experienced four consecutive fuel scarcities with some of the longest queues ever seen in the history of Nigeria. Some of these periods have lasted beyond a month, leaving millions of Nigerians with the memory of continued pain and anguish.

One of such scarcities was in June, 2015 when the Managing Director of Capital Oil, Ifeanyi Ubah, had to call on President Buhari to urgently probe those behind the menace which almost grounded the nation.

It took the intervention of the Capital Oil boss to roll out his products to salvage the situation.

Related: Probe those responsible for scarcity-Ubah tells Buhari

Another scenario was in July, 2015 barely few weeks after the June crisis, with the worst hit in November/December 2015, which coincided with the festive period when prices of goods and services had practically gone through the roof.

Presently, the nation is bedeviled with another row of scarcity as the Chairman, Petroleum Tankers Drivers, PTD, Comrade Salimon Akanni Oladiti, has accused some saboteurs in the Nigerian National Petroleum Corporation, NNPC, of been irresponsible.

Although, the saboteur’s names were not mentioned, close sources in NNPC are accusing the previous administration appointees/workers for been responsible for the scarcity and hike in price.

Related: NNPC, PPMC fail again as black marketers take over

It should be recalled, that the All Progressive Congress, APC, National Chairman, Chief John Odigie-Oyegun, had in February, 2016 accused some appointees of the immediate past President, Goodluck Jonathan, in some agencies of sabotaging the efforts of the Buhari-led government.

The accusation is coming barley a month after the Minister of Information, Lai Mohammed, had blamed Jonathan’s administration of being responsible for the December, 2015 fuel queues which practically brought the nation to its knees.

He said, “What I will be telling Nigerians is that what we met on ground is such that we are paying for the sins of the last administration.

“I am being very serious. You remember that about two weeks ago, we had to go to the National Assembly for a supplementary budget of N674 billion.

“One of the reasons for the fuel scarcity was the inability of the last government to make adequate provision for fuel subsidy.

“We do face some other logistic problems, but majorly we are paying for the sins of the last administration,” the minister said.

Some of the listed sins of Jonathan were the diversion of N3.8 trillion out of the N8.1 trillion earned from crude oil (2012-2015), $2.1 billion Excess Crude Account unaccounted for, Department of Petroleum Resources’ unremitted 109.7 billion Naira royalty from oil firms, $6 billion looted by some Ministers of the last Administration, 160 million barrels of crude worth $13.9 billion lost between 2009 and 2012 and $15 million from botched arms deal yet to be returned to Nigeria.

Despite these numerous allegations, political watch dogs have argued that government is a continuous process and should have moved forward rather than folding its arm and blaming previous administrations for its failures.

The question yet unanswered is, what is the Minister of Petroleum (Buhari) doing to end the fuel queues?

What is the NNPC and the Pipelines Products Marketing Company, PPMC, doing to ensure onward and immediate distribution of products to other depots across the country?

What is the Department Petroleum Resources, DPR, an organ responsible for monitoring and ensuring that the product is sold at the specified price, un-adulterated, with a correct metering doing to ensure compliance?

Almost one year in power, it seems that the current government has not been able to answer these pertinent questions which brings us to the ultimate quest of when are we going to move forward?

http://www.post-nigeria.com/uncovered-jonathan-behind-persistent-fuel-scarcity/

According to presidential spokesman, Femi Adesina, Nigerians are the ones that vandalized electricity installations in different parts of the country after the supply reached a 16-year-high of over 5000 megawatts.
Speaking live on a radio show monitored by Greennews.ng in Lagos on Friday morning, Adesina wondered how the government could do its job when miscreants in places like Bayelsa choose to vandalize gas and electricity installations.
“Do you remember that some time ago, the supply of power reached over 5000 megawatts. That was even more than how much had been generated in 16 years but then some people went to destroy government installations thereby dropping power to so low as it is now.
“Who do we blame for that? When the power ministry announced that we had about 5000 megawatts about three weeks ago, it also promised that by December, another 2000 megawatts to be added to it. That will give 7000 megawatts.
“That generated a lot of hopes. But those hopes were dampened when few days after you was announced, they begin to blow installations and you lose 3000 megawatts, and December, like you said, you want to go to 7000. But when they continue with this sabotage, how will it get there?” he queried.
On the issue of the present economic hardships Nigerians are facing, Adesina said patience was the key word, noting that people are just complaining without understanding the processes involved. He noted that with the new administration having spent just about nine months in office taking over in May, 2015, Nigerians would have to wait for another nine months before they can tackle the presidency on the state of the economy.
“It will take 18 months to retool this economy. The president has said that, it is just that Nigerians don’t listen,” he said.

http://www.hopefornigeriaonline.com/blame-nigerians-current-drop-power-supply-buhari/

I don't know the authenticity of this stuff but it sends a subtle message about the blame game going on... was Jonathan the only corrupt leader in history? was he the most corrupt? I still fondly remember "Saint IBB", "Saint ABACHAAA" and " Saint Mathew Aremu"...

"Though I know it's impossible to go livin' through the past" - Bob Marley

This man is from Yabo in sokoto state. Bcoz he was denied a girl of his liking to marry he decided to cut off his genital organs.

Help him to look better. We all can do with some improvement, help him like I have seen many ugly women transformed by the love of their husbands. PIIMMMPPP YOUR MAN GIRL, Some women can pull the head off your neck to have him...

I can really relate to what you are saying. I went from having my mother sell Akara to pay my fees to earning a six-figure income and now a seven-figure income. I literarily went from good income to earning exactly 12 times my previous good income within a year!
I love my mother and my siblings for all the sacrifices they made for me. I am trying to give my mother the best life and the best experiences I can afford. my advice: work extremely hard as if your success depends on it alone. Be focused on your goals, so am saying you should have a goal that transcends your current economic status. Be content with your present lot in life but daily develop skills, relationships and a very positive mindset that will help you succeed. I believe success is sure if you apply yourself right. I pray that God will surprise you with a wonderful financial freedom. May you go from a 50k income to a million naira income. You must do your part though. see you on the other side of poverty when you finally cross over to meet us... ha ha ha ah

Just return it. don't even think twice about it, its an integrity issue!
100 k wont make you richer but it can cause you much sorrow and guilt.

Resemblance in looks and brains!!! mtcheeeew

Wetin be this na?

Wetin you dey wait for? The time wey the same thing do me, na SUICIDE wey I commit help me o. I remember the kind sweet suicide wey I commit... choi choi... the thing sweet me for belle no be small.
My brother or sister or anybody reading, just tell yourself the truth stop wasting your time on frivolous things like girls/boys, parties, over fellowships,cultism and concentrate on your books. try cramming if you have to... just avoid expo but do all things possible to excel. Define your life and configure your affairs according to your uniqueness. If you wan commit the suicide, invite me to come watch as you succeed in your exams..

Obviously you are not only small but you have a small mind too

Duru1:
Per the bolded, who gives a ratass about the nonsensical crap. Do you want to revisit the pogrom of 1966? Please be informed that today is neither 1966 nor 1967. You have brothers and sisters that reside in Igbo land or what IPOB considered Biafra.

But they were not burnt because they belonged to Igbos but Christians. Igbos are not the only Christians in Nigeria so it is a different thing entirely. It very bad and evil as well!

Duru1:
Bros nothing is left untouched in a struggle for survival. Countless number of churches have been burnt down in northern region and hell did not freeze.

This is how bad things start.
So IPOB what do you suppose will happen to your brothers and sisters in all the nooks and crannies of Nigeria?
I hope your Director has sufficient supplies of food and logistics for the war he is blindly leading you to start.
Remember during the Biafran war you had control of the sea ports and yet could not get sufficient food to execute the war. Now you are a landlocked country and I hope you know what you are doing.
Don't come and start crying genocide and starvation o.
Your Director is calling for arms and the destruction of other tribes and you people are playing the victims by saying HE DID NOT DO ANYTHING WRONG BY DECLARING WAR ON THE COUNTRY NIGERIA!
Now you are already touching on a very volatile issue by burning mosques in Onitsha you are indirectly killing your own people in the already blood thirsty north!
I hope a sane voice will prevail on the collective sensibilities of the Biafran people.
I know some of you will rant and curse me but it is good you take a look at the counter perspective and the implication of a war in these times.
I am an ardent listener of radio Biafra and I hear how your leaders out of youthful exuberance whip up deadly sentiments among the so called foot soldiers. They speak rashly and very immaturedly too.
You should be careful to define the war you want to fight. Are you fighting a religious war or a political war or even a tribal war?
May God help the innocent families that will be exposed to unneccessary danger because of the selfish oil-driven ambition of a few irrational minds.
My Igbo people, no section of Nigeria enjoys the country now but patience and hope is still keeping us going. Please lets look beyond our noses at the far reaching implications of a tribal war!

Where is Mr TRUCKPUSHER of NAIRALAND... come see ya staff dey impress customer die!
On a more serious note, how many educated Nigerians with Masters degrees do CLEANING and Dead body washing jobs in the US and UK? There is dignity in labour! If he makes 2000 a day, it translates to 60k/month equivalent to level 7 FG jobs. If he makes up to 5k daily the he earns more than FG GL14... he is his own Boss and as other smart people are saying, he may soon be an employer of labour.
He is what we call a PORTER and they exist every where the world over. He may even be educated for all I know.
So I have a civil engineer friend doing bricklayer job in Abuja making more money that a university lecturer. He owns his own house in Abuja and its a sweet structure!
So what the Bleep is demeaning in holding your side in this tough economy? Since PMB ascend power, FG never employ na him make many of us Jobless gradutes waiting till forever for PMB's imaginary 5k/month dey get time to type rubbish out of unfounded pride. He makes more than FG minimum wage am sure!
The nature of your honest labour does not matter in the UK,US and other developed economies that I know! Proud and broke shall not be your portion!!!!

realteflon:
As share by Mrs chiemezie Claire Asunugwo Anyanwu on facebook.
She shared how Bashir Suleiman at the Utako Market in abuja finds dignity in his Mai Barrow Business

Tanzania now has a president !!!!

AN YOU BELIEVE WHAT TANZANIA's NEWLY ELECTED PRESIDENT MAGUFULI IS UPTO?

UPDATES FROM TANZANIA POST ELECTION ACTIVITIES

Last weekend they were opening parliament and there was a state dinner planned for all guests that was going to cost about 300 m. President Magufuli cut the budget to 25 m and ordered that the rest be taken to buy hospital beds for Muhimbili they got 300 beds and mattresses and 600 bed sheets from that money.

On 23rd Nov 2015 he announced that there will be no official ceremonies for Independence Day on 9th December, the money is to be used for more pressing issues and the day should instead be spent cleaning up our environment.

On Saturday 21st Nov 2015 a group of 50 people were about to set off for a tour of commonwealth countries (don’t know for what) but President Magufuli cut that list down to 4 people, saving government 600 m in tickets, accommodation and per diems

No more foreign travel, embassies will take care; if it’s necessary to go, special permission must be sought from him or Chief Secretary

No more 1st class and business class travel for all officials except President, Vice, and Prime Minister.

No more workshops and seminars in expensive hotels when their so many ministry board rooms available.

President Magufuli asked how come engineers are given V 8s when a pick-up is more suitable for their jobs.

No more sitting allowances, how the hell are you paid allowance for a job which you have a monthly salary; that also applies to MP’s.

President Magufuli has literally pressed the reset button; returning Tanzania to default factory settings, because that was the TZ Nyerere left us with.

On the day after he was brought to power, in the morning as State House officials were showing him round he decided to take a walk to ministry of finance, told them to get their act together, asked why some employees weren’t in office (ever since then the traffic jam in mornings has become worse) and ordered TRA to scrap all tax exemptions, everyone must pay taxes especially the big guys

President Magufuli went to Muhimbili Hospital unannounced and walked thru the worst parts that they keep hiding from important visitors he fired the director, fired the hospital board and ordered that all machines that weren’t working (so that people go to private hospitals owned by some doctors) to be repaired within 2 weeks otherwise he fires even the new director; the machines were repaired in 3 days

Finally, last week when going to officially open parliament President Magufuli didn’t go by plane, drove the whole 600 km from Dar to Dodoma.

President Magufuli has reduced the size of the presidential convoy, even reduced the size of presidential delegation that travels with him

President Magufuli chose a Prime Minister we haven’t heard of before, a guy with reputation for hard work and no corruption all the big guys we expected could be PM have been let wondering what hit them.

His motto is: Hapa Kazi Tu = "HERE, ALL WE DO IS WORK/ SERVE!"

After President Magufuli visited Ministry of finance and Muhimbili Hospital without announcing it is said the port (most corrupt, delaying, thieving officials) were all of a sudden the most efficient place. No loads are missing, things are done quickly and that habit of forcing for a bribe so that your container is released is no more.

Oh, they say when he was confirmed as winner people started congratulating him and wanting to bring gifts to his place he turned them back, saying he will receive all congrats over the phone, nobody should visit him.

All individuals/firms that bought state companies that were privatized but haven’t done anything (20 yrs later) are to either revive the industries immediately or hand them back to the government

I think it is high time I propounded my opinion about this Biafra dementia that has been unfurling all across the nation by some inebriated and ignoramus group of Igbo people. I will express my views no matter whose ox is gored.

I would have been a Biafran if the war had succeeded. My father was in the army during the war and I have read and heard, and seen evidences of the atrocities committed against the Southerners just before the Civil War in what is now called "Igbo Pogroms". My father told me everything that happened.

But what I still do not understand is why Igbos still went back to the same North after the War. Some of them still live there even after all the atrocities that are regularly committed against them! Why can they not live in the East and develop it? I just do not get it.

Two possible answers -(1) 'hubris' or the belief that you are so special and above all others that you will soon pull the wool over their eyes and have one on them (obviously not working on the Hausa north) (2) as I said earlier, a masochistic streak that wants to be hit again and again by the same person.

So somewhere in your pithy little brains you think the answer to all of your home-made problems is the creation of Biafra and the installation of 1 man so long as he originates from what you call Igbo nation. You know I would have even given your postulation a 5 second thought if not that I remember that all Igbo states are led by an Igbo governor and all their cabinet would also typically be all Igbo; yet not one Igbo state now or in the past has been any more distinguished than any other state in Nigeria.

Let me tell you a little more you need to know about OJUKWU, BIAFRA and the WAR. It may interest you to know the history, origin and events that sprung up that declaration "Republic of Biafra. This was not because of the love Ojukwu had for the igbo people, rather than his love for power and embitterment that power eluded him. Ojukwu wasted so many promising and prominent young Nigerians. These Youths were brainwashed by Ojukwu just what Nnamdi is doing. Immediate causes of the war included a military coup, a counter-coup, and persecution of Igbo living in Northern Nigeria. Control over oil production in the Niger Delta played a vital strategic role.

It may also interest you to know that the first Nigerian coup d’etat that resulted in the assassination of 11 senior Nigerian politicians and two soldiers as well as kidnapping three others was led by Kaduna Nzeogwu (an igbo) and General Johnson Aguiyi-Ironsi (another igbo)then used the coup as a pretext to annex power, ending Nigeria's nascent democracy. Then along came a counter coup led by Lt. Col. Murtala Mohammed which resulted to murder of Gen Aguiyi Ironsi as a reaction to the killings of Northern politicians and Officers by mostly Igbo soldiers.

Ojukwu felt Brigadier Babafemi Ogundipe was the highest in the hierarchy of power and should be made head of state. But when the coup plotters insisted and made Gowon the head of state, Ojukwu got pissed and this led to the civil war. Brigadier Ogundipe opted out peacefully, but pride did not allow Ojukwu to let go. Apart from the Aburi Accord in Ghana, there were a lot of other accords to settle issues amicably, but Ojukwu was bent on ruling his own oil rich country “Baifra”.

There was nothing like the "REPUBLIC OF BIAFRA " it's an illusion. That assertion was made on 30th may 1967, and was just for a selfish purpose (leadership ) Why did you think Ojukwu fought?, Who was he fighting for. Now another self-centered Nnamdi Kanu wants to take advantage of your sentiments . Ojukwu fought because he could not allow Gowon who was in the same rank as he was be head of state. Taking advantage of his father's wealth, he arrogated himself to a god of war without minding how many lives he would destroy.
Did you think Biafrans rebels combated openly with the Nigerian army? Apart from some cheap ambushes like the Abagana, where could they have confronted the Nigerian armies. Biafrans dealt with Biafrans. The rebels captured Igbo cities and tormented innocent lives. Raping young women and forcefully taking wives from their husbands. Recruiting boys between the ages of 13-15 and above into their army. Killed any person suspected of sabotage. The saboteurs were worn the Nigerian army uniform, killed and termed Nigerian soldiers. Igbos suffered, but Nigerian armies rescued the captured cities one after the other, until all was rescued.

Benin City was captured by the Biafran soldiers alongside Auchi, Agenebode, Okene, Asaba, Agbor , Iloshi and Atani while indiscriminately shooting and killing armless civilians in the process. Unbeknownst to General Banjo (the leader of this mobilization who was a Yoruba) a unit of Biafran soldiers under Lt. Col. Oechi attacked the government residence of Mid-Western Region governor David Ejoor at the behest of President Odumegwu Ojukwu to capture Ejoor dead or alive. Not wanting to appoint an Igbo over non-Igbo citizens General Banjo suggested that either David Ejoor, Sam Ogbemudia, or Col. Trimnell be made governor but Ojukwu refused and ultimately placed the Igbo medical-officer Albert Okonkwo governor.

Ojukwu would finally execute Vitor Banju, Emmanuel Ifeanjuna (The first black African to ever win an international gold medal) and one Alale following a plot to agree a ceasefire with Nigeria. Let me try to make it short. I think some of these so called pro-Biafrans should know that the only solution is to try to accept a modus vivendi and let’s live in peace and unity, and stop living in cloud cuckoo land with the stupendous misbegotten idea of Biafra. Nnamdi Kanu is an illiterate who sat in some classrooms, but it did not have any positive impact on him, and he has succeeded in brainwashing some gullible and incredulous igbo group to joining his selfish cause.

Now he has been lionized, praised, reverend and worshiped. That is exactly what he wants. Can anyone remember the names the igbos who have died for this Nnamdi madness? No! Only Nnamdi Kanu is the cynosure.

The truth is that Biafra was an Ojukwu Scam!

What will ladies not do to catch men! Wicked sweethearts

I think we can look at it that he is trying to sensitize others on doing the right thing in such situations! He is not necessarily looking for praise. I for one, have learnt from his actions. God bless you OP!

jnrbayano:
Good work.

But bad that you publicized it to earn human praises.

A Nigerian man has been arrested at Entebbe Airport for carrying drugs. Michel Okoye Uche, who is 43 years old, was found to have swallowed 66 pellets of a drug that is yet to be identified. The contents will be examined in the government analytical laboratory. The Commandant of the Aviation Police Lodovic Awita says Uche was arrested just as he was about to board an Ethiopian Airlines flight. Awita says that since this year started, six Nigerians have been arrested for the same since this year started. - See more at:

http://www.ntv.co.ug/news/crime/21/jul/2015/drug-trafficking-nigerian-66-drug-pellets-held-entebbe-airport-7550#sthash.Qmluwm89.dpuf

Another man from the secessionists enclave in the act. He is doing "Business" in Uganda

Na the same joblessness dey worry me and you now! since you self no get job or even work na him you come dey comment with vex. take am easy o. I posted it here for possible confirmation but not from angry people like you... take a chill pill and continue your work, you wey get work!

phellamon:
Dear OP,
Is it dat u are jobless dat u find nothin beta to do than posting such trash
Nigga, an idle hand is the devils workshop.

Pple like u are those they find in such fake sites reading their trash and broadcasting such facade.
Go get a life....mister
And next time confirm a story b4 u broadcast..... Ok

by Nnamdi Ukasanya
Nigerians are no longer smiling, yet refused to complain but prefer to die having made the worst mistake of their lives in supporting the present Buhari government.
The situation is practically getting excruciatingly unbearable even worse than envisaged with untimely deaths happening here and there.
First it was in Abuja, then Port Harcourt, and now this…
Learnt from a reliable source that one of the trekkers for the purported electoral victory of Buhari has hung himself to death, in fulfilment of the promise he made before the trekking competition.
The man here, it was alleged, made some promises to friends and family members in Jalingo, to trek from Jalingo to Abuja if Buhari wins, but will not fail to hang himself in the event that Buhari fails to perform or things goes worse than before.

This man went on the trekking business with every hope that Buhari is the messiah to turn around Nigeria , especially when he (Buhari) preached about “stabilising the global oil market” and many other things like free foods.
Having waited for well over 5 months and no sign of improvement as the reverse becomes the case, the promising young man had to take his life by hanging to avoid political taunts and mockery from his friends and neighbors, coupled with an unbearable hunger and starvation flogging his entire household.
What a world!
Fellow Nigerians, my humbly advise is that as much as mistakes have been made of which the consequences are staring at every Tolu, Dike, and Haruna. Let’s make it a point of duty to stop taunting those who did the unimaginable in support of the failure we have in Nigeria today.

I JUST SEE THIS TORY ONLINE. Abeg, How True!

http://www.genechy.com/2015/11/shocking-buhari-trekker-commits-suicide.html?utm_source=&utm_medium=facebook

misspicy:
mtchwwww

Why is this so annoying to you, my dear Misspicy?