₦airaland Forum

Konjidam:
Hw far bro

check your dm

Manny21:
Something is happening to all these boys that nobody is able to discover. Could they be paying the expensive price of fame? Yesterday it was Mohbad, today Oladips, who is next?

how many fame? Are they more famous than the A or B list artise we have?

Zico5:
I was surprised to see that many people are really borrowing from service providers especially MTN. Why should I borrow when I know I'm going to pay at least 15% interest on them. I don't understand cos business wise it doesn't make sense.

like i was really shocked when the debt clearing news came out and i saw people jubilating. I have never borrowed before. It doesnt make sense to me. Maybe because i have not been in a dire situation that would make me borrow. But what situation would make me borrow though?

Konjidam:
Wow... But I want to believe it serves the purpose why you got it.

I'm interested pls

dm

Konjidam:
Pls tell me ur experience. Thanks

like i earlier. It's good sometimes, sometimes no too good. Makes you angry sef

Konjidam:
Were you able to get

.

dammyz101:
D truth abt America strength is in d media. Over d yrs de have succeeded in brain washing d world especial d gullible once to believing de are d world power. However wat de did is forging an alliance with NATO against Russia for decades to protect Dem self from d military strength Russia and d chines army. Most pple don't even no dat d news de listen to are controlled by America and Britain. Right from d Soviet union era, Russia has been d military world power, America is d economic world power. If u no u no.

military power wey germany almost finish for WW2 if not for same america? You need to learn history

NOETHNICITY:
I tell you bro. I mean why should Davido be paid In dollars for a show he is supposed to perform here in Nigeria. Even the pinnik himself is useless for paying in here. And we are all wondering why naira keeps falling

a very sensible question i have been searching for since this issue started. Why are they paying a nigerian artist in dollars for a show in nigeria? Is our legal tender now dollars?

DrDeuce:
God bless you sir for helping out that guy prince despite the bad situation of our economy sir. May Godod bless and replenish you sir. I'm now sorry for this concurrent intrusion but please can you kindly lend your hand of help to me too please. I'm very hungry today and haven't had a decent meal at in days and I'm also feeling the weight of this economy as im not with my loved ones but in school. I know my chances are slim and you might feel angry with this mention of disturbance but sir a closed mouth is a closed destiny. Please help me too sir. I please plead in God's name. 🙏

not a problem at all. Done. Please manage and God bless

PrinceofAgoAre:
Pls could someone help me with 2k

1k? Drop your digits

Nice

I hear niger state is 48hours

Blakjewelry:
Lol I didn't expect you to understand what I wrote. I shared to cases that I heard up close, the first is unlikely because we all knows the guy. The second unlikely too because by the time I got there, they said the guy is testing the D with a girl in the oza room, so my question how come the penis thief is always been caught, infact I have never seen a man living without his manhood because it was stolen or have you?

i wonder why i never thought of this. This is so true

Irupetepete:
I watched that buba girl video, no man born of woman can ever satisfy that hole, even a horse will only try

ehen so the hole is big abi? I was thinking it's my eyes

The topic no follow

NzogbuNzogbu:
lol, he wan die

Even if he is drunk to say it, na the gov he is doing it for go carry microphone wash his hand from the matter

oga nothing will happen. Emir of kano that a govenor removed like a baby. Govenors have more powers than traditional rulers.

It's past 9PM already...any update? Hope he's fine sha

nicedayontop:
This lie has been passed from generation to generation. Infact,few yrs ago l told some ss3 students in my sch and they never doubted it because india has never refuted it and again indians don't play in WC again.

lol.. you're part of the problem

Sonnobax15:

Na wa....

But even at that self,even the price of bicycle self no cheap....

I remember when one boy boarded my keke with his newly bought bicycle......I asked him how much he bought the bicycle and he told me it was #120k

So this option isn't even as easy as we may think it is...

120k? Na electric bicycle?

Lol..something is not right. If you watched the show, after ebuka evicted TBaj. He came back and said biggie just informed him that he will be evicting another housemate. If they wanted to evict just one from the onset, they would have evicted frodd first. Either frodd's figures were manufactured or ebuka lied

Treadway:
No. Your COS won't be revoked if you can't get shifts, as that is out of your control. The only option is to keep searching for another care agency that will absorb such a person as bills have to be paid. It may require moving to another location if such are hard to come by in the present location. This is what I have learnt from the true account of others here who are/have experiencing/experienced that. To your other question, to be honest Naija is some type of way right now truly, so I would refer you to the Living in UK thread for more views/advice on that. There is still quite a lot of sound and viable info being shared on that thread that can help you make a favourable decision. Since you do remote work, there likely will be regions/locations they can point out that the cost of living will be low, so your finances aren't strained and probably such locations won't have this problem with getting shifts. All the best.

Cheers!

thanks chief. I really appreciate

Kaiser20:
@OP you are a comedian
Nigeria no good, Nigeria no good, you saved 7m naira in just 2 years
Please continue saving, at 30 You would have saved at least 30 million naira then you can Japa

how much do you think would be 30M then?

yankison:
Ireland is just best bet ...they are offering PR now with a lot of govt benefits ..housing everything with job ..it's not even up to 7m ..around 5m but takes 1yr

how please?

Treadway:
it is clear. Let me clear it up for you. When you get COS to come and do care work, your papers legally prohibit you from doing anything aside care work for the period/duration of that visa. Hope that much is clear. If they are now able to circumvent it illegally somehow, I no come know. Many people even here on Nairaland have complained about the same thing, about coming in and not getting shifts, and also still finding it hard to get another care work in their/certain locations since that is the only work they are limited to. Just do a lil digging you will see at least 10 cases of this same thing by Nairalanders

hmmmm..then that's bad. They should have gone via student route. That amount would go a long way for them. My fiance was preaching the care worker visa to me. I researched it and saw that it's not something i can do. Told her if she can do it, we can go there. I'll go as her dependant. I have a remote job that can atleast cover us( even if not fully) if she doesn't get shifts. Nigeria is getting too uncomfortable to live in. I just hope the Uk favors us.

Lastly, will the COS be revoked if you don't get shifts for a long time?

Any advise for me?

Ashirioluwa:
What is the name of the UK company that sponsored her?

Does she have a skilled worker visa or visitor visa?

I know some people will believe her story. The lady is lying. She traveled to the UK with a visitor’s visa.

When you are at your lowest point and there is no turning back, you will make up a lie or a touching story to make them feel sorry for you and show mercy.

exactly. Cause if she has a work visa and no job was waiting for her..why not apply to other jobs? I also think the story isnt clear

TheBTCinvestor:
Where do u stay? Wat colour do u buy? And how much?

is it safe to put details here or should i DM you so we can talk proper. College Road ogba. PINK. I have sent a DM

TheBTCinvestor:
Canadian with black bullet racing with the benz..scouting for barnies.what are u doing now

chief, i fit dm you for good molly plug? Na fake i just full around me

lazkizz:
this is the break down

The Central Bank of Nigeria is set to launch its Price Verification Portal on August 31 2023.

Please read this explainer written in 2021, some elements may have been changed or updated, but the broad idea remains.

Understanding CBN’s new guidelines on import and export financing

The Central Bank of Nigeria's (CBN) new import and export financing guidelines via an eValuator system are set to effect on February 1, 2022. So, let's talk about it.

Introduction of the Policy

The Central Bank of Nigeria's new guideline on imports is based on the electronic submission of invoices called e-vouchers. This new guideline is mandatory for all imports above $10,000. These new e-Vouchers will be issued and authenticated by Authorized Dealer Banks (ADBs).

Importers of any good or service into Nigeria must register that good or service supplier into an electronic database. This database is updated annually. The importer of any good or service will then submit import papers to complete a Form M. Still electronically, the price the importer will quote will be based on a "Global Price Verification Mechanism (GPM) guided by a benchmark price. The GPM will advise a benchmark price for all goods and services, which is the actual spot price advised to the importer by the supplier.

The Benchmark Price

The new guideline revolves around this benchmark price. If the supplier wishes to import, his quoted price on the invoice presented to his bank (ADB) should be at most 2.5% of the verified global benchmark price. If the quoted price exceeds 2.5%, Form M will be queried and not processed in Form M or NXP. It is the responsibility of the importer to ensure that their supplier complies.

Let me summarize this way. If you intend to import a BMW 5 Series car from BMW of Atlanta, these are the steps under the guideline.

1. Go to BMW of Atlanta, and obtain an Invoice.
2. BMW of Atlanta will register on a dedicated electronic portal provided by CBN but operated by the CBN agent service provider. This registration will cost $350 and be valid for 12 months.
3. The CBN's service provider will issue BMW of Atlanta a digital certificate. BMW of Atlanta will sign your eInvoice with this digital certificate.
4. BMW of Atlanta will provide the authenticated eInvoice to you
5. The CBN's service provider will transmit the BMW eInvoice to CBN, specifically the Nigeria Single Window Portal Trade Monitoring System (TRMS)

If the BMW of Atlanta quoted price for your BMW 5 series is more than 2.5% of the benchmark price, then your Form M will not be processed.

This guideline also applies to exports; the critical difference for exporters is that the exporters from Nigeria are quoting a price as the supplier. They must quote within a 2.5% band as well.

Thus, if I am a Cassava chip exporter and get an order from China, I cannot quote a selling price below 2.5% of the benchmark cassava chip price as CBN advised. This is an important distinction. Now, let us talk about the exchange rate mechanism in Nigeria.

Why is Exchange Rate Important?

When you import, you are buying Forex; in effect, you are taking Forex away from Nigeria; you "weaken" the Naira. When you export, you bring Forex into Nigeria and "strengthen" the Naira.

The CBN and all Central banks always promote exports; however, not all Central Banks want a strong currency. Strong export economies such as China, Germany, Switzerland, and Japan prefer a weaker currency to ensure their exports are competitive. The CBN's goal is to have a "strong" Naira to the US Dollar by words and deeds. The CBN has defended the Naira exchange value in relation to the US Dollar to ensure it does not weaken further. The CBN is rightly wary of imported inflation.

Nigeria, however, is also an exporting nation, she exports Crude oil, Cocoa, Cashews, and many other commodities, but Nigeria's CBN also has a Capital Control policy. This means the inflow and outflow of foreign capital in and out of Nigeria is controlled and regulated. The CBN sets the Exchange rate of the Naira to the dollar, not the interplay of Demand and Supply. Thus, Nigeria has two rates, the official NAFEX rate, which exchanges $1 to about N414 and the unofficial rate at about $1/550.

The Export v Import Gambit

Many exporters from Nigeria are willing to sell their local commodities at a discount to the international commodities market because this attracts international buyers. They, however, do not remit their Forex to the official channels but rather to the unofficial market to take advantage of the higher exchange rate. So, exporters can earn more from the arbitrage in selling USD to the unofficial market.

The CBN has a standing policy that exporters must repatriate all exports within 90 days for oil and gas transactions and 180 days for non-oil exports. The CBN had in January 2021 instructed banks to prohibit Nigerian exporters that fail to repatriate Forex earnings from banking services with effect from January 31, 2021.

CBN has tried sticks of sanctions and carrots of paying N5 per deposit to encourage the repatriation of proceeds back to Nigeria, but this has not succeeded. This policy is an export-import gambit. The exporter will have to invoice at the benchmark prices, enabling them to earn more from the export side by selling at higher prices. Still, they will then remit Forex at the lower exchange rate.

The CBN objective of a "strong" Naira is thus affected by the low foreign reserves it must defend the Naira. The low reserves are a function of the non-remittance of export proceeds promptly as well as a fall in remittances generally.

Exports win, Imports lose?

This new e-Voucher guideline raises commodity prices in Nigeria. It removes the advantage of lower prices from Nigerian exports, but more remittances should flow to the CBN. Importers have a more challenging time.

However, is the 2.5% not too narrow a band? When you buy a BMW in Atlanta, three main factors drive your selling price.

1, Cost price, how much is the car worth?
2. Your profit margin, how much do you want to make?
3. Inflation expectation, what will it cost you to replace your stock?

The BMW from Atlanta is sold in United States Dollars; however, you are importing to sell in Nigeria for Naira. According to the CBN, the OTC FX Future dollar rates to Naira for delivery in May 2022 show a further weakening of the Naira to N432.32. The futures price is thus my replacement cost in 5 months. Therefore, all traders add a margin that captures this inflation expectation. The language in the CBN circular explicitly suggests that the margin is a firm 2.5%; it implies ignoring the inflation reality. Many importers will no longer open Form M, finance their imports, or change destination ports.

However, this policy has some good points; it allows the CBN to have a database of importers and import requests. Every time a new supplier registers, it's a trade forecast for the CBN. It is an early notice to the Central Bank of Nigeria that it must have forex reserves to meet that Forex demand. This will allow more long-term planning and management of the reserve position. It will also remove the fraudulent request for FOREX on non-existent trades and overall reduce slippage.

We shall revisit this policy.

God bless you

I dont know what they see in that neo sef

GideonG:
I skipped your post from the mentioned of RIP mum, may her soul Rest In Peace.
I can relate because I was overly elated when I made a CGPA of 4.42 in first semester, though I couldn’t maintain but I still graduated with 2:1 in computer science from the hardest school in Nigeria ATBU

lol, it isnt the hardest..finished there too, same dept. 18/19 Great balewite