₦airaland Forum

DMerciful:
No need to argue with you....people who have been using it can testify.

Lmao!
Shalom.

DMerciful:
A good system batteries stays averagely 4-6yrs. D bigger the system, d more d longevity

Huh! Which good system batteries stays 4-6yrs? Abeg dont derail people. The only way they will even last up to three yrs is if u always use abt 5% of inverter capacity. Imagine spending a little over a million for an inverter-solar arrangement and u r using it to charge ur phone because u want the expensive batteries to last for 6 yrs. or u have a 1.5kva inverter and u only use one 20watts energy saving bulb. Does that make economic sense? For intending users of inverter, weigh the pros and cons well well before embarking on it.

steve13:
Mine cost a little bit above 1million naira ,since march 2015,powers one air-conditioner and 2 refrigerators ,wish I did it earlier,

What is the capacity of the inverter and what size of Gen do u use to charge it?

ubecharles:
. They do o. Every house in Israel has a solar panel visible from outside and am told inverters come handy

You are talking about Israel. The Israelis have that arrangement incase they are cut offf from the grid, so that they can always have access to information if the Palestinians and other enemies blow up their power supply. In Nigeria we know our enemies...

bigtt76:
If you don't continually drain your batteries to nought, it will last more years so long as you are able to get good ones to start with

Well, inverters have minimum voltage at which they cut off power supply, so its not possible to drain it to nought. Assuming If you have an inverter of the strenght of a truck but use it to carry load of one Laptop then its a waste of money and space. The average life span of the batteries is 2yrs. The storage capacity of the batteries drop over time, just like ur phone, rechargeable torch, car batteries e.t.c they are all the same.

DMerciful:
In a month I normally use fuel worth N8000 to power my generator anytime there's power outage but since I bought my inverter more than a year ago, I spend averagely N500 per month. Yes..N500 averagely as I could go for 3months sometimes without putting on my gen. This backup system has been very helpful especially now that there is poor mains supply and fuel scarcity with exorbitant price. Those of you complaining of excessing estimated bill, you can get value for the bills you pay if you have a backup system since you'll massively utilize the mains when it is available provided you can have light at least once in two days.
Below is my 1.5kva sine wave inverter and 4batteries system.
Show us pics of your backup system and tell us how much you save from this arrangement per month.


Mods pls move to front page so Nigerians can be aware of alternative cost saving power

It is true what u have said. But one key thing is the supply of NEPA light once in two days, becaus its the NEPA light that can effectively charge the batteries or u need a big gen like minimum 5kva to charge it. Also note that the money u save now will be used to buy batteries when they go bad.

donbenedict:
Am tryna imagine sex with a physically challenged...

Dont try to imagine it. U are not matured enough for the imagination. Your brain is not fully developed for that. Smh

Well, no man is perfect. If you list all these things to your man, he will not feel relaxed with you. He will look for where he is relaxed and accepted. Thats when you will come back here to share stories that touch.

Booking space. But i sense this is trash.

Realwvn:
Hello NNR,

My life has taken a rough turn since I got married as my husband derive great pleasure from beating me during sex. I really don't know who to explain this to right now, I can't even tell my own parents because it sounds completely absurd and appealing

I prepare myself for a deep sadness anytime he touches me during the night to make love to me. He beats me and buy me exotic gifts the morning after but I am getting scared everyday

He said he doesn't know how to control himself as his ex partner enjoys when he slaps her hard when they are making love. After tried to talk him into seeing a counsellor but he said he won't discuss his personal issue with anyone

Please, how do I end this? Please help me, I am about to run away from my home

http://www.naijanewsrave.com/please-help-my-husband-beats-me-during-sex/

Go and watch the film "Fifty Shades of Grey". It will explain a lot. But didnt u guys court before marrying? U should have seen traits of this in him. I guess u ignored it. Now it has come out in full.

Booking space.

Booking space...

It is well.

germyu:
I am a software developer, I create amazing things for companies; I have a good portfolio of projects I have developed, my applications are used my hundreds of thousand of Nigerians. I prefer to keep a low profile and my identity hidden.
I'm presently working for a start-up company that has a very huge prospect. This is my Six(6) months of employment and I developed an amazing web portal for the company in the said time. Truth of the matter, no one believed the web portal was ever done in Nigeria because businessmen/employer in the business or domain underestimate local talents; their believe so much in Indian/US software developers. I stopped the company from paying $68,000 to software development company in India. The web portal is now LIVE. and we're having huge traffic and good remark about the website.
My CHALLENGE
My currently earning about N200K monthly, and our competitor is offering me a N350K monthly. My boss found out about the offer and call me to a man-to-man private meeting and offer me a N50K salary increment, housing allowance of N500K yearly and 2Week vacation to Dubai.

I presently work in Abuja, while the offer is in Lagos. I love Abuja, but I have feelings for the N350K offer.
Am afraid of moving to Lagos due to family problems, however it can be prevented If i stay away. Also am still an undergraduate, although I can transfer my study centre to Lagos.

PLS ADVICE
Should I stay with my current employer or move with the new offer?

Pls ignore my typos. Thanks.

Right now the economy can be said to be unpredictable (remember the budget has not been signed). Therefore moving from the known to the unknown is not advisable. The grass might not be greener on the other side. They are trying to poach you. When you get there, you will now see that their working conditions is somehow.

demiladegold:
being too much of a nice guy

women dont base their choices of men on how nice they are. they choose guys because they feel a very powerful attraction for them. and being nice doesnt make a lady feel that kind of attraction. it probably doesnt make a lot of logical sense but its true.

trying to convince her to like you

what do most guys do when they meet a girl they like and she doesnt feel the same way?
they try to convince her to feel differently. YOU WILL NEVER CHANGE HOW A WOMAN FEELS BY BEING PERSISTENT IN TRYING TO CONVINCE HER. you probably would just end up irritating and annoying her.

trying to buy her attention with food and money

how many times have you bought things for a lady and she rejects you for someone not nearly as nice as you?
probably a lot of times.
most women see this as a sign of unnecessary compensation for insecurity and weak attempts at manipulation.

thinking that all it takes is money and looks

this is a mistake almost all guys make. most women are interested in far more than a man's looks and his wallet.
there are certain personality traits that are magnets to women and if you just know how to use them, you can win any girl's heart. confidence goes a long way in winning a woman.

giving all your power to a woman

some men make the mistake of trying to get a girl to like them by doing everything she wants or tells them to do all in the name of being caring and romantic.
WRONG!
WOMEN ARE NOT ATTRACTED TO WEAKLINGS. a woman wants a guy that knows what he's doing and can control her even a little.

[color=#006600]beating up a woman to gain her respect[/color]

some men make the mistake of thinking by beating up their woman they are exerting a kind of control and are going to be respected more by the woman.
this mentality is wrong. a woman tends to lose respect for a man that beats her and as time goes on she slowly starts loosing feelings and finally leaves the man....





those are my own opinions... i stand to be corrected.

Something tells me you are not married.

Ohammadike:


https://mobile.twitter.com/SaharaReporters/status/723193801272004610

I wouldn't be surprised if these people pass the bill secretly.

faruku104:
It is not a new thing that Don Jazzy has a thing for Rihanna. In a bid to congratulate Rihanna in her 'new' endorsement deal, he decided to reach out to her on twitter to offer his congratulations in the most hilarious way.

Read what he said below:

https://twitter.com/DONJAZZY/status/722889928212754432

Let me let you guys in on a secret. This is a mannequin. A doll. So dont drool on those tips. Oyinbo people know how to play on the mind of black man.

NewsPoacher:
http://tribuneonlineng.com/ondo-begins-bitumen-exploration-with-10000-barrels-per-day

I want to hear what the govt has started and not will start.

newsarena:
One of her best looks yet!

https://www.instagram.com/p/BEbuWVghCcP/?taken-by=funkejenifaakindele

Chai! See marketing! Meanwhile nothing ...

Rapmoney:
This is a high level of lawlessness in a foreign land. I witnessed this at Okorodudu Junction, along Effurun-Sapele Road this evening.

This white man shamelessly parked his car on the road and started urinating, right there in the very presence of everyone; as busy as that junction is!!! If a Nigerian tries this in this man's country, the resultant effect will be very disastrous!!!

Well we can say he is a whitenan, but if we qualify him well, he could be an indian, lebanese, chinese, Phillipino e t .c. Theses people are very very close to Nigerians in the act of Breakng the law.

newsarena:
The actress looking corporate chic in an outfit from her St.Genevieve clothing line.

https://www.instagram.com/p/BEYP8qRuOhd/?taken-by=genevievennaji

All theses single WOMEN are just marketing themselves. Meanwhile their taste is very high. 98% of the men that can bed them are already married.

ecotwins:
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/

Nice write-up @ OP. But why is the dollar still trading high in the parallel market. One would expect that as demand decreases, prize will fall. Can you answer this?

donogaga:
The on-going war between Nigerian blogger, Linda Ikeji and pop star, Wizkid has taken a new turn.

For starters, Wizkid and Linda Ikeji aren’t best of friends.

WIZKID continues to express his disdain for the blogger and never fails to take shots at her at any opportunity.

Ikeji, who’s developed a thick skin, after years of multiple celeb spats, hasn’t let the singer’s attitude debar her from covering his misdemeanours.

She joined other blogs to report on his alleged second baby mama. But their beef got worse early April when Linda Ikeji’s blog alleged that Wizkid had been served a quit notice from his Lekki residence in Lagos.

Wizkid who was at Congo at the time took to social media to lash out at the blogger. He was uncouth in his rant, even threatening to arrange to have the blogger beaten.

‘If I ever see you, I’ll get my 16 year old cousin to beat the shit out of you’ he said.

Many pundits told THENETng at the time that there are legal implications should the blogger report to the police.


We can now confirm that Ikeji has reported the threat to the Lagos State commissioner of Police, Fatai Owoseni.

A source with details told Nigerian Entertainment Today a summon has been issued to Wizkid, with an invitation letter sent to the Surulere office of his manager, SundayAre.

‘He was instructed to show up today but he did not’, a source told us.

His manager, Sunday Are didn’t pick our calls or respond to our messages.

We also reached out to ASP Olorunfemi Shemof Lagos state police who promised to get back to us. He has not responded as at the time of publishing this report.

Linda Ikeji declined to comment.

According to a legal source, Section 323 of the criminal code states that ‘Any person who, knowing the contents thereof directly or indirectly causes any person to receive any writing threatening to kill any person is guilty of a felony, and is liable to imprisonment for 7 years’.

http://thenet.ng/2016/04/net-exclusive-linda-ikeji-drags-wizkid-to-lagos-police-commissioner/

This women can be found funny atimes. Maybe she wants him to notice and take interest in her. Its all about increasing your networth.

[quote author=akanniade10 post=44685179][/quote]This Korean cars have gone out of the reach of the middle class. And these are cars that have no scrap value and depreciate rapidly.

sammysammy111:
Popcorns are normally fried in the
same pot, in the same oil, at the
same time and under the same heat
conditions. But they do not all pop at
the same time.
When flood comes, fish eat ants.
When flood recedes, ants eat fish.
Only time matters.
To make soap, oil is required. But to
clean oil, soap is required.
This is the irony of life. Everybody
needs
somebody at any one point in time.
Do not despise or treat anyone with
scorn when they are excelling or
failing more than you. There is time
for EVERYTHING and for EVERYONE.
Keep TRUSTING in God and WAITING
for your turn.
Your time to POP will come at God's
appointed time. NEVER GIVE UP .

This is really deep thinking. Nice one.

How does this affect the price of fuel and availabilty of dollar.

I feel ur pain. I had a similar experience in January at the Slot outlet at departure wing of Muritala Mohammed Airport (domestic airport). I bought a blackberry charger there. It was tested for some seconds and it worked. Only for me to get home to now use it extensively to discover that the phone is not charging. After troubleshooting i discovered it was the usb plug that was faulty. I had wasted my time and money. This issue with Slot is on the increase. Its difficult for businesses to maintain their standard in Nigeria.

admax:
Look at their classrooms! Look at the school compound! Why won't they invent such. Meanwhile in Public schools in this same Nigeria:

What a life!

They will steal your money meant to develop infrastructures like schools, hospital etc and send their children to the best of schools but unfortunately some wretched people will still kill themselves for those politicians.

I ain't saying only politicians send their Children to the expensive private schools as we have lots of legitimately rich people in this country. It is well.

So much inequity in the country. How many geniuses can private schools produce? If we don't revamp the public schools that means we are not ready to be innovative on a massive scale.

Make i quickly reply make i dey first page.
Clears throat. "Chai chai". But i tot CBN said that the airlines are lying. We dont know who to trust anymore. One thing is for sure. The masses are suffering and not happy.

@tripplephi its not computer science.
@banjicom that will be my last resort. It just involves me leaving my work to follow up on a younger one that is not straight forward. The only time my parent followed me to school was during admission and convocation.