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BusinessRe: Why Are We Not Making Money Like Dangote? by EPOMA(m): 11:25pm On Jun 01, 2011
deenee:
Nice thread, Dangote has made money because he invested his seed money wisely.I will still go back to the question asked, what would you do if you get a 2 million naira jackpot today?

For those that have picked gates,buffet and branson as mentors, these people like dangote are part of the capitalist system.

Are we quick to forget the antitrust case against gates in the late 90s when he acquired and liquidated every hi-tech firm in silicon valley that is a perceived threat? need i talk about branson who hides under the auspices of the 'virgin' brand to kill competition? buffet on the other is an investor and not an entrepreneur because he only invests in companies unlike dangote,gates and branson.

I will not dispute the fact that he has used his proximity to the seat of power to increase his wealth.truth be told in the eyes of a capitalist this is called 'NETWORKING'

Finally, I will ask again:-what would you do if you get a 2 million jackpot? if you cannot provide an idea that includes a business plan that will turn the jackpot into an income generating asset, then stop BEEFING

DANGOTE is my Mentor anyday!
Branson started business after he travelled across the English Channel and purchased crates of "cut-out" records from a record discounter.[citation needed] He sold the records out of the boot of his car to retail outlets in London. He continued selling cut-outs through a record mail order business in 1970. Trading under the name "Virgin", he sold records for considerably less than the "High Street" outlets, especially the chain W. H. Smith. The name "Virgin" was suggested by one of Branson's early employees because they were all new at business.[10] At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit so-called resale price maintenance.[11] In effect, Branson began the series of changes that led to large-scale discounting of recorded music.

Branson eventually started a record shop in Oxford Street in London. In 1971, Branson was arrested and charged for selling records in Virgin stores that had been declared export stock. He settled out-of-court with UK Customs and Excise with an agreement to repay the unpaid tax and a fine. Branson's mother Eve re-mortgaged the family home to help pay the settlement.[10]

Earning enough money from his record store, Branson in 1972 launched the record label Virgin Records with Nik Powell and bought a country estate, in which he installed a recording studio. He leased out studio time to fledgling artists, including multi-instrumentalist Mike Oldfield, whose debut album Tubular Bells (1973) was Virgin Records' first release and a chart-topping best-seller.

Virgin signed such controversial bands as the Sex Pistols, which other companies were reluctant to sign. It also won praise for exposing the public to such obscure avant-garde music as Faust and Can. Virgin Records also introduced Culture Club to the music world. In the early 1980s, Virgin purchased the gay nightclub Heaven. In 1991, in a consortium with David Frost, Richard Branson had made the unsuccessful bid for three ITV franchisees under the CPV-TV name. The early 1980s also saw his only attempt as a producer—on the novelty record "Baa, Baa, Black Sheep", by Singing Sheep in association with Doug McLean and Grace McDonald. The recording was a series of sheep baaing along to a drum machine produced track and even made the charts at number 42 in 1982.

In 1992, to keep his airline company afloat, Branson sold the Virgin label to EMI for £500 million.[12] Branson says that he wept when the sale was completed since the record business had been the birth of the Virgin Empire. He later formed V2 Records to re-enter the music business.[13]

My friend will say what you Know, How did Richard Branson kill competition to become rich and it is far more differnet from you being given monopoly by a government and avoiding paying import taxes. I have an interview of Branson say that the sweet mother album in 1976 really help grew his money in Africa.

If I had 2 million Naira now in Nigeria I will use it to go in to politics and grow from there as it is a business
.
Christianity EtcRe: How Many Here Have Read The Bible From Cover To Cover. by EPOMA(m): 7:12pm On May 25, 2011
buzugee:
funny enough i have met so many people with your exact sentiments. care to share exactly how, or what in the bible  turned you into an atheist ?
Goodluck
PoliticsRe: What Is The Big Deal About Fashola? Nonsense! by EPOMA(m): 12:53am On May 25, 2011
Beaf:
As far as performance is concerned Fashola, Chime, Lamido and Amaechi are in the same class, but Akpabio is better than all. However, Fashola stands head and shoulders above the lot in PR. Lagos states PR is bloody good. Its one hell of an oiled machine, like sinewed sportsman, glistening with potence.
Can someone help me tell BEAF to concentrate and support his GEJ. you don have a clue about akwa Ibom. Do you know how much comes to the purse of akwa Ibom in a month? Please tell me what he has done. Am not going to say much.

Godswill spend  28 Billion  Naira to biuld, paid Arik air 2 billion naira to fly Uyo route which was a fraud. when you are ready we can talk about this man
PoliticsRe: What Is The Big Deal About Fashola? Nonsense! by EPOMA(m): 12:43am On May 25, 2011
Eko Ile:
All talk, no action, no pictures,

una no dey shame?
Thank you for your comment, wetin Akwa Ibom do or Rivers in terms of the money they get
PoliticsRe: CPC Falling Apart? SE/SS/SW State Chairmen Expelled by EPOMA(m): 10:56pm On May 20, 2011
mikeansy:
Anti-Buhari does not equate to Pro-GEJ

Buhari was pioneer Chairman of NNPC, former head of PTF and former head of state. Someone should give me a serious list of what he accomlished in executive positions of importance.

Real facts please!!!
In NNPC, he built 3 refineries which you guys can not maintain till date
PoliticsRe: CPC Falling Apart? SE/SS/SW State Chairmen Expelled by EPOMA(m): 10:52pm On May 20, 2011
mikeansy:
I did not support GEJ before PDP Primaries, I am not convinced in his leadership or politics but Buhari is simply not an option. Buhari dragged Nigeria back by 20years and should have no place in 2011 Nigeria politics.
My friend you are talking nonsense, IBB brought Nigeria back. Well true that Buhari has no place in 2011 politics because he is not corrupt, Obj and many more have testified that in the past.

Nigeria will continue to suffer as long as we have the idiots ruling you now
PoliticsRe: CPC Falling Apart? SE/SS/SW State Chairmen Expelled by EPOMA(m): 10:48pm On May 20, 2011
andyanders:
CPC is a failure. Their leaders lack moral conduct. Anybody/persons identifying with them are all failures
How CPC a failure, people just come here to say anything in the air.look very well. It seems you guys just like the suffering that Nigerians are passing through.
CPC first point of call was reducing the seize of running the government , removing Immunity for governors. look very well , Una dey forget so quickly
PoliticsRe: Jonathan: Leaner Cabinet Impossible For Now by EPOMA(m): 10:34pm On May 20, 2011
ibedun:
Seriously!!huh

Do you expect this guy to just simply violate the constitution even if for a good intention?

Are we losing our sense of reasoning,   in a democracy!!huh.

GEJ should obey the constitution first, carry out consultations and then propose an amendment during his elected term if indeed there is a merit to this (more than just money/cost)

The provision was inserted into the constitution for a reason.

Many of you people in Nairaland cannot run a shop or local council meeting let alone a country. 

Babangida to his credit (he has very few) said Nigeria is a very difficult country to rule because as a people talk/act first and reason later.
You all shouting constitution, someone mentioned here earlier that David Mark rushed and changed some laws in the senate  in 10 days to favour him becoming the next senate leader and please can someone tell me how it was possible for OBJ  to be control the petroleum ministry in his time in office, was that constitutional
PoliticsRe: Jonathan: Leaner Cabinet Impossible For Now by EPOMA(m): 10:29pm On May 20, 2011
ak47mann:
[b]MARK MY WORD [/b]gej Govt. will tell if Nigeria will still be one or not undecided undecided undecided
Seconded
PoliticsRe: There Is Need To De-congest Lagos And Industrialise The South East - Jonathan by EPOMA(m): 9:51am On May 19, 2011
dem_people:
[size=14pt]There is need to decongest Lagos – Jonathan[/size]

President Goodluck Jonathan said the Federal Government is desirous and committed to decongesting Lagos State of cargoes as well as making the aviation industry more efficient.


He also reterated the need to ensure that the six-geopolitical zones in the country are economically viable to drive growth in the nation.


Jonathan said this in Ilorin on Tuesday while inaugurating the International Cargo Terminal building, Ilorin International Airport.


He said his administration would make sure that the zones were not “just for sharing political offices” but are strong economic hubs and catalysts for socio-economic transformation.


He explained that the government would revolutionise agriculture as a viable strategy for industrial revolution, job creation and economic transformation.


The President, who was in Kwara State for a one day working visit, inaugurated some projects embarked upon by the Kwara State Government.


The projects included, the International Cargo Terminal building, the International Aviation College, Ilorin, Kwara State University being built by Charvet Nigeria Limited, Mass Train Transit Scheme and Ilorin Water Works Project, Asa-Dam.


Jonathan said, “From all indications, we will play our own part to encourage our airports to receive cargoes. FG is committed to decongesting Lagos and making sure that the six geo-political zones of the country are not just used for shared political offices but also for economic development to position them for economic growth so that Lagos would be decongested.”


The President stated that the Federal Government might no longer be involved in running secondary and primary school education but would devote its resources in elevating the standard of university education in the country.


Kwara State Governor Bukola Saraki said his administration had built a solid foundation for the economic and socio-political transformation of the state.


He added that the projects would improve the economic viability of the state as well create jobs for the teeming unemployed residents and other Nigerians.


“We hope that by August, 1, we will have the first set of students to start learning here. We have already 22 registered students and there is capacity for more,” he said.


The Emir of Ilorin, Alhaji Ibrahim Zulu-Gambari, said the nation had many problems but advised Jonathan to deliver efficient and functional electricity to the nation.

http://punchng.com/Articl.aspx?theartic=Art20110518302297
The only reason I supported CPC was when they said they will built an eight lane motorway to they east from lagos. 80% of industries in Nigeria is in Lagos  , so to de-congest lagos to other area, we need such a road first and people will be encourage to locate industries outside Lagos or ship goods to other areas. Make we dey look with all this talk
HealthRe: Why Do Luth Dr, Nurses, Interns Have Bad Attitudes? by EPOMA(m): 1:50am On May 19, 2011
valacious:
As mourinho will ask why? Why is it that ALL medical workers,starting from doctors,matrons,nurses, and d worst-student doctors on intern in Luth lack manners and have bad attitude. Had a sour experience when i went to look up my mum.
Simple answer is that most Nigerian needs total re orientation. Our ethics is just not just there
PoliticsRe: Cement Decrease Very Difficult - Dangote by EPOMA(m): 1:46am On May 19, 2011
youngmonie:
Theres one thing i dont see people talking about  COOOOOSSTT!!!, To me I dnt think its just the prices of cement, if you look at the rate of inflation generally in Nigeria is just jumping higher and higher,  from cost of electricity to cost of fuel to cost of transportation to cost of employment  everything add adds up to business cost whether fixed or  variable. Hence it has to be passed on to the consumers unless( The government is ready  to subsidies, of which they do not have the money) and again if you look at nigeria as a whole i think the pries of cement should actually be coming down  because there is so much demand  construction here and there, but u kno ppl like dangote would like to cash in on it, Would also like to correct one impression that people say DANGOTE IS A MONOPOLY, ?  The man jus got economies of scale, if you do something better than your competitors  it doesnt make u a monopoly, does it>?
So what is he doing better than his competitors, you mean sponsoring OBJ and Goodluck and then get his way. I don't even think someone like Dangote pays Duties.This nonsense just have to stop. Some people have mentioned here already their interest in bringing in cement but got frustrated
PoliticsRe: Private Varsities Seek Public Funds by EPOMA(m): 1:17pm On May 18, 2011
If they want ETF money, will they charge the same fee with Government Universities or do they think Nigerian government is father xmas as usual
PoliticsI Disagree With Goodluck Jonathan On This by EPOMA(op): 1:05pm On May 18, 2011
[b]Jonathan blames declining education standard on abysmal reading culture

Written by Christian Okeke, Abuja
Wednesday, 18 May 2011

President Goodluck Jonathan, on Tuesday blamed the decline in education standard in the country on what he identified as poor reading culture among Nigerians.

The blame by the president came as The Federal Capital Territory (FCT) Minister, Senator Bala Mohammed, revoked the N27 million contract of an abandoned block of eight classrooms in Government Science and Technical College, Area 3, Garki-Abuja.

President Jonathan who spoke at the launch of his Bring Back the Book campaign in the FCT, Abuja, attributed the poor quality of graduates across the country to the same reading decline.

He said the campaign was initiated against the background of his administration’s commitment to promote sound and qualitative education.

Jonathan, who was represented by Vice-President Namadi Sambo, maintained that the problem of declining reading culture continued to pose a major challenge not only to the government but also the entire society and observed that, “the ripple effects have permeated the entire society as the quality of graduates from our schools at various levels has fallen below standard.”

He said: “It is in realisation of this need to revive the reading culture that we embarked on the Bring Back the Book programme as a deliberate policy to redress the pitfalls that have been adversely affecting the quality of education in our country in the past three decades or thereabout.”

Meanwhile, FCT Minister, Senator Mohammed recalled that the revoked contract was awarded to M/s Ell Services Nigeria Limited in 2009 and was expected to have completed the project within a period of 36 weeks.

He directed that the same contract be re-awarded to another contractor on site, M/s B. Chons Nigeria Limited who is currently handling a laboratory complex in the school awarded in 2010 but nearing completion.

The minister assured that the FCT Administration intended to build more modern libraries across the territory to encourage students to imbibe a reading culture.

Senator Mohammed remarked that the administration would deliver a sound and institutional framework that would improve the quality of education and enable FCT pupils/students take their proper position among their peers globally.[/b]


Coming from  an educational background in Nigeria, I believe Goodluck would have  given a much more better reason for the decline in the standard of education in Nigeria than the reason he just gave. This still makes me doubt his ability to lead when he can not even spot clear problems like this. How will he be able to get a solution them. Our educational system needs more than abysmal reading.
   Please have your say
PoliticsRe: Ministers: States Nominate Akala, Makarfi, Dosunmu by EPOMA(m): 11:21am On May 18, 2011
PLEASE WE DON'T WANT ANY NEGATIVE COMMENTS FROM THE SUPPORTERS OF JONATHAN AND PDP.
PoliticsRe: Jonathan Directs Dangote, Others To Crash Cement Prices Within 30 Days by EPOMA(m): 3:42pm On May 17, 2011
king-child:
Actuall i think as president, he has well done, cos' he now has what it takes to regulate the our fiscal policies and the way we manage our market. bearing in mind that he is just a spoke Man, the decision must have been taken by those who know.

that's the way i see it, sha. i stand to be corrected if wrong.


Good stride, GEJ
Please can you tell us what he has, I thing he does not have an idea
PoliticsRe: Jonathan Directs Dangote, Others To Crash Cement Prices Within 30 Days by EPOMA(m): 3:39pm On May 17, 2011
blacksta:
This is what YAR ADUA TRIED TO DO before the Policy was reserved because Dangote was not happy

Date of the article  - 5 July 2009

Prices of cement have been on the rise and government, in a bid to check trend, gave import licence to some Nigerians to import the commodity with a view to bringing down its price.


As a result, President Yar'Adua had last year lifted the ban on importation of bulk cement and granted import licences to six new firms along with the existing cement manufacturers to flood the market with the product and force prices down.
That is what a sincere man would do but not a dumb like the one we have
PoliticsRe: Jonathan Directs Dangote, Others To Crash Cement Prices Within 30 Days by EPOMA(m): 1:51pm On May 17, 2011
gidson12:
from N1,400 to N2,300 a bag within a space of 3months, this people wan kill us
All the money spent in the last election by dangote and Otedula has to be recovered
PoliticsRe: Jonathan Directs Dangote, Others To Crash Cement Prices Within 30 Days by EPOMA(m): 1:49pm On May 17, 2011
GODSON2009:
its about time,the idea of dangote robbing peter to pay paul with impunity all these years should have been curtailed,its suprising however that when the rest of the world have graduated to using more environmentally friendly but durable materials to build houses we are still stuck with using an average of 1 ton of pure concrete on building which is apalling.
i fail to understand why we use concrete and blocks even for internal dividing walls in a hot climate
To divide walls inside needs pure skills, do we have places where people can learn this? no. we dont like learnin new things
PoliticsRe: Jonathan Directs Dangote, Others To Crash Cement Prices Within 30 Days by EPOMA(m): 2:17am On May 17, 2011
My first question to Goodluck and his supporters, Is nigeria not running a capitalist econony? so how cement producers are  just be called up to reduce the price of their product in 1 month.

I thought Goodluck's government does not has a dictatorial tendency  as the said Buhari

Diesel    = Otedula  up after the election
Cement = Dangote up after the election
PDP      =Zoning  after the election


More to come
PoliticsRe: Mass Defection From PDP Looms In South-East Over Zoning by EPOMA(m): 1:59am On May 17, 2011
konkolok:
Ndi igbo NTOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO. When you do things without thinking, oh sorry you were thinking of your stomachs,  Please dont compare yourselves with the Yorubas because in politics they are head and shoulders above you guys. Haven't you seen how they dealt with bad governments in the West? what did we do in the East, we simply re-elected them and that crook Ohakim almost got his way as well. The East should be ashamed of themselves. A people wh cannot stand up and rid themselves of bad governments and bad selfish and inept leaders. Allow the worst among you to be your representatives and now you stand up to complain. Biko whoever knows that Fisherman should help me tall him to make sure no IBO man holds any meaninnful post. After all, they have not made up their minds wether to go for Senate presidency or Speaker or SGF. That  Ike Ekweremadu is kissing backside to retain deputy senate president position when he should be rallying other senators to make him Senate president.

If i had my way no ibo man will smell any post until they learn to take a common stand.
well said
PoliticsRe: Mass Defection From PDP Looms In South-East Over Zoning by EPOMA(m): 10:29pm On May 16, 2011
vanunu:
One thing that is very clear is that in a few years time the present generation of Igbos, will not take any poo again from Nigerians.  They have had enough poo, they are being cheated from every angle , they have the smallest number of states, the smallest number of LGA, the smallest  federal allocation and so on and so on. Mark my word, Nigeria will soon disintergrate
Are you talking about the likes of Andy and Chris Uba and which Igbos. Look very well
PoliticsRe: Mass Defection From PDP Looms In South-East Over Zoning by EPOMA(m): 10:25pm On May 16, 2011
Donlittle:
i LAUGH so tail i fall from my table reach chair, wetin na? no be una vote GeJ, WHY THE COMPLAIN?  huh undecided grin
Am laughing too. The pictures have been there
SportsRe: Caf’s Hayatou And Anouma Accused Of Taking Qatar Bribes by EPOMA(m): 10:08pm On May 11, 2011
joecrack:
Fifa has become big politics,dont be surprised blatter might have gotten his own cut.the only mistake our own amos did was getting caught,what do u expect the guys name is 'adamu'
Fifa has always been politics and corrupt, we seems to forget how the president normally bribe his way through re-election
PoliticsObasanjo Says Leaders Should Not Be Held Accountable After They Leave Office by EPOMA(op): 5:27am On May 06, 2011
[b]Obasanjo offers panacea for sit-tight leaders in Africa

By Bassey Udo



May 6, 2011 12:57AM





President Olusegun Obasanjo yesterday offered a panacea for the problem of sit-tight leaders in Africa, saying amnesty for their mistakes while in office will help resolve the problem.

Mr Obasanjo, who was answering reporters’ questions during the ongoing World Economic Forum (WEF) in Cape Town, South Africa, said heads of governments in Africa should be forgiven their mistakes and allowed to retire home in peace without being made to face trials. He said this would encourage them to exit power.

The former Nigerian president said the fear of being tried for the crimes they committed while in office is largely responsible for refusal of many leaders in the continent to yield power until forced to do so.

“Unless it is absolutely necessary, I believe that any African leader, whatever mistakes he made while in office, unless it is a heinous crime, when he gets out of office should be left alone to vegetate and retire to his village, or where ever he wants to retire to,” he said.

“One of the things that can discourage others from following the footsteps of those who have vacated power is the fear of what will happen to them after they leave office.”

He, however warned sit-tight leaders that time is running out on them. He said while there is life after their stint in office, the affected leaders should also not do anything that would make them harbour worries about being sent to the Hague for trial.

“When one looks at the political horizon, sit-tight leaders are becoming extinct species,” he said. “Very few of them are left. They should look and see that those who have taken their exit, are not worse for it. I am here. I know that ex-President Mbeki is also there. There is life after the State House. And if they know that and also appreciate that there is something they can do to be useful to their country, Africa and humanity, maybe they would be encouraged to vacate.”

ZONING IS GOOD

Mr. Obasanjo also urged the Federal Government to address six key areas, namely the economy, security, unemployment, corruption, infrastructure development and stability in energy generation and supply.

Reviewing the benefits of the recent elections, which produced Goodluck Jonathan as president, Mr. Obasanjo noted that leaders of the Peoples Democratic party (PDP), who believed in the principle of rotation of power among the component units of the federation, were proved right. He said the outcome of the election has not only strengthened the country, it also put to an end the role of religion in the country’s politics.

“My party, the PDP, believes in what is in the country’s constitution, which indicates that there must be federal character reflected in all appointments and elective positions,” he said. “What the PDP said was that for now, where there is a president from one section of the country, who has had his term, whenever the term ends, either by himself (through resignation), by the constitution (through impeachment) or by God (through death), the next president should come from the other part of the country.

“That is what the PDP believes, and that is what has happened. So, the PDP has been proved right. The result of the last election has, in fact, strengthened the country’s unity, because for the first time in our history, somebody from the minority in the South South geo-political region was elected as president on his own merit. It has never happened before. If one takes a look at a place like Kaduna, and the issue of Moslem-Christian religious sentiments, where people believed a Christian could never be elected as the governor in the state. But, that was put to rest permanently. These are good for our democracy.”[/b]




This is the reason why I can never support PDP for anything because it is a doomed party. This is a party that doesn't discuss the accountability of its members like removing immunity from our constitution for executives while in office and now the cheiftain is telling us not to probe  leaders after they leave office. what an ideology. Still watching and laughing
Satellite TV TechnologyRe: Official Thread Of Free To Air Satellite Tv (part 5 - The Final Part) by EPOMA(m): 1:15am On May 02, 2011
Sophieamore1:
i am pissed of this gadotor this gadotor that. there are other people on this forum, the guy can not even spell properly.
Correction mr english, it should be OFF
BusinessRe: CBN Imposes Limits, Penalty On Cash Transactions, Again! by EPOMA(m): 3:03pm On Apr 30, 2011
Kenya sets world first with money transfers by mobile

· Banking system bypassed by using text messages
· Phone networks size up global trade worth billions



Xan Rice in Nairobi
The Guardian, Tuesday 20 March 2007
Article history

The following correction appeared in the Guardian's Corrections and clarifications column, Saturday March 31 2007

The claim in the article below was wrong. The mobile banking system may be the first in Africa but two companies, Globe Telecom and Smart Communications, have been operating money transfers in the Philippines since around 2005.




The ping of a text message has never sounded so sweet. In what is being touted as a world first, Kenya's biggest mobile operator is allowing subscribers to send cash to other phone users by SMS.

Known as M-Pesa, or mobile money, the service is expected to revolutionise banking in a country where more than 80% of people are excluded from the formal financial sector.

Apart from transferring cash - a service much in demand among urban Kenyans supporting relatives in rural areas - customers of the Safaricom network will be able to keep up to 50,000 shillings (£370) in a "virtual account" on their handsets.

Developed by Vodafone, which holds a 35% share in Safaricom, M-Pesa was formally launched in Kenya two weeks ago. More than 10,000 people have signed up for the service, with around 8m shillings transferred so far, mostly in tiny denominations.

Safaricom's executives are confident that growth will be strong in Kenya, and later across Africa. "We are effectively giving people ATM cards without them ever having to open a real bank account," said Michael Joseph, chief executive of Safaricom, who called the money transfer concept the "next big thing" in mobile telephony.

M-Pesa's is simple. There is no need for a new handset or SIM card. To send money you hand over the cash to a registered agent - typically a retailer - who credits your virtual account.

You then send between 100 shillings (74p) and 35,000 shillings (£259) via text message to the desired recipient - even someone on a different mobile network - who cashes it at an agent by entering a secret code and showing ID.

A commission of up to 170 shillings (£1.25) is paid by the recipient but it compares favourably with fees levied by the major banks, whose services are too expensive for most of the population.

Mobile phone growth in Kenya, as in most of Africa, has been remarkable, even among the rural poor. In June 1999 Kenya had 15,000 mobile subscribers. Today it has nearly 8 million out of a population of 35 million, and the two operators' networks are as extensive as the access to banks is limited.

Safaricom says it is not so much competing with financial services companies as filling a void.

In time, M-Pesa will allow people to borrow and repay money, and make purchases. Companies will be able to pay salaries directly into workers' phones - something that has already attracted the interest of larger employers, such as the tea companies, whose workers often have to be paid in cash as they do not have bank accounts.

T[b]here are concerns about security, but Safaricom insists that even if someone's phone is stolen the PIN system prevents unauthorised withdrawals. Mr Joseph said the only danger is sending cash to the wrong mobile number and the recipient redeeming it straight away.
[/b]
The project is being watched closely by mobile operators around the world as a way of targeting the multibillion pound international cash transfer industry long dominated by companies such as Western Union and Moneygram. Remittances sent from nearly 200 million migrant workers to developing countries totalled £102bn last year, according to the World Bank.

The GSM Association, which represents more than 700 mobile operators worldwide, believes this could quadruple by 2012 if transfers by SMS become the norm. Vodafone has entered a partnership with Citigroup that would soon allow Kenyans in the UK to send money home via text message. The charge for sending £50 is expected to be about £3, less than a third of what some traditional services charge.
BusinessRe: CBN Imposes Limits, Penalty On Cash Transactions, Again! by EPOMA(m): 4:47am On Apr 30, 2011
dinggle:
This Sanusi is a dictator governor, who did he discuss with b4 concluding??
Did he bring in the stake holders (traders, business communities and consumers)? or did he just discuss with his board while sipping hot tea with cabin biscuit?
How will a buyer pay for my car if its valued at N950,000 naira? Did I hear u say cheque??
How will I know if the cheque is not fake? or if the cheque has required amount for the purchase of my car?
Will I tell the customer to go and come back tomorrow while I cash the cheque first?
How will the customer trust me to know I wont disappear?


OK! Lets look at ATM/credit card?
If sanusi does not know that ATM cards (even the newer ones with magnetic chips) are not save then he shouldn't be the CBN governor.
There is a device that scans ATM card while its in your pocket all the scam artist needs to do is get closer to u and while asking for road direction wit the device in his hand or his pocket your card can be scanned in seconds
! this is not news, in-fact companies in America are making fast money selling special wallets that prevents such scans. Well! I will go a little American and consider importing the wallets for sale in Nigeria.
Have all those who lost money from their ATM cards in the past been compensated?
How can I risk carry ATM/Credit card in Nigeria when I know it can turn me to church rat over night?

In democracy you don't force people to do what u think is right, rather u make what u think is right better, safer & encouraging and the people will follow u.
Were Nigerians forced to use mobile phones? isn't more than half of the population on phone?
Sanusi should know better I m deeply disappointed.

My score card for Sanusi, Idea = great,  implementation=0.
A great Idea x bad implementation=0
I cant stop laughing. Well if they provide the right infrastructures like insurance, banks authorizations before a cards are accepted, may be it will help. This is very funny
BusinessRe: CBN Imposes Limits, Penalty On Cash Transactions, Again! by EPOMA(m): 2:21am On Apr 30, 2011
kanmiariyo:
This is silly,i worked for my money and should be able to spend it at will


That money is Nigeria property and it is only with you for a short time.We are all slaves to the system. Check your cash, na cbn they write  for am
BusinessRe: CBN Imposes Limits, Penalty On Cash Transactions, Again! by EPOMA(m): 2:09am On Apr 30, 2011
[quote author=jarkbauer link=topic=656549.msg8231556#msg8231556 date=1304119412]
i dont have any issue with local transactions most people wil just have to own a POS.but can someone answer this my main issue with it.how do i do my international transactions which sometimes run into tens of thousand of dollars.if i have 5million in my account how do i buy something worth that price oversees
[quote][/quote]


Letter of Credit(LOL), Domicilary Account, Get aboki wey get POS machine . Many more options, Trade by barter

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