₦airaland Forum

rusher14:
I think this is a storm in a teacup.

Nobody has told anyone what to do with their funds.

In the papers in the modern world all manner of statistics are churned out daily.

An observation has been made by the CBN.

Obviously, any wise thinking government would, especially in this particular case, think if I have 27 Billion dollars in my coffers and my citizens have 20 billion dollars at the same time, and we are in dire straits, how can I get them to invest in the system? full stop.

Nobody has made any statement asking anyone to forfeit his/her funds.

In fact, any reasonable government would look to see how they can get you to bring in even more Forex.

I don't understand why or how this is a problem.

This is what they said
Central Bank Governor Mr. Godwin Emefiele gave a shocking disclosure on Thursday about the massive dollar treasure in Nigerian banks, as the country goes cap in hand begging for foreign loan.

According to him, over $20 billion is sitting pretty in domiciliary accounts of private individuals at a time when the country is facing foreign exchange crisis and is chasing foreign loans, when its citizens could offer the loan.

The Nigerian Govt and its CBN are very predictable.Anyone who is economicaly inclined would quickly realize people are holding and waiting, if these statics where correct tehn I may very well be amongst the people he is talking about.Now my question toe Mr CBN would be,why should I loan you my hard earned Forex I earned in the UK saved in Nigeria? what incentives is there for me?
Now the loan in question is not in forex but local currency to prop up the economy.So to this statement do you think the amount of forex in the banks is greater than the amount of Naira in teh banks?.
Regards ur expectations of the govt to convince its citizens to invest in Nigeria, of what encouragement has the govt put on ground? what incentives? what tax breaks? what policies?Go to UAE, you can set up biz and exempt tax for years, even in china.I wanted to export Coal from Nigeria to the Uk you need to see waht I was told at the customs office, bunch of looserrs

rusher14:
That's how I get paid for services I render.

Now, having this forex does little for me other than rise as the Naira plummets.

Being a concerned citizen, I would rather have a situation where that money can be used locally to build up local capacity in any form. Of course such a venture must be profitable itself.

Like any salary account for instance, does little for the account holder other than safe keeping. If that money isn't invested to yield some returns the only profiteers would be the banks.

you just answered my question
According to your 2nd line,Forex does nothing to yo as a Nigerian living in Nigeria
But for me as a nigerian living in Diaspora it does a lot.I transfer my savings into my Dom account in Nigeria so however and when ever i deem fit to come to Nigeria, I can withdraw the forex at competitive rates more so ** I'm doing it at my own time*Why would a sane govt tell me how and when I need to use my MONEY

rusher14:
Please I would advise you to refrain from using foul or insulting language when contributing in a forum.

For your information, I receive some forex in my domiciliary account which just idles away without interest.

I for one would love to invest it in anything meaningful if the environment were right and the possibility sound.

Of course the government is aware of such possibilities, and would if reasonable, be looking to get her own citizens and internal account holders to invest in the local economy.

If your own citizens are reluctant can you expect foreign investors?

Plz point me to where foul or insulting language was used in my quote?
You claimed you received some forex in ur Dom account, can I ask of waht use is Forex in ur Dom to you in Nigeria if you intend to invest in Nigeria?
I'm going by ur statement.

rusher14:
Perhaps you don’t understand my post.

The government has 27 billion dollars in relation to 20 billion dollars sitting in private domiciliary accounts in Nigerian banks.

Government is actually thinking of ways of getting these individuals to "invest" this money one way or the other within the local economy.

Do you actually reasoned before you wrote what you did up there? Keeping money in the bank to yield interest or to wait until its value goes up is a business on its own right don't you know that? the money in the bank is an investment on its onw as its a leverage to take loans and mortgages round the world.It serves as a gaurantee and a form of forex reserved, teh type Nigeria now craves for.

janco:
I always wonder why Government will nose itself "long throat" into people's private accounts.

It would be foolish to assume that the $20Billion in few private accounts is illegal, because some genuine businesses can generate such inflow.

The only foolishness I see here is that because forex is now a topical issue, suddenly CBN is awake. let the government generate its own forex and stop nosing into private accounts of genuine depositors.

There is a regulation that states that once your account is above certain sum, the anti money laundering unit is intimated.
so let them allow sleeping good dogs lie

I don't see anywhere in the post where it says they were illegal money though.The bank accounts have names to them so nothing like stolen money.meanwhile I agree with your first paragraph.Govt should take their nose off private bank accounts.

Crownvillar:
Please note, that not all of this $20bn is stolen money. For example, I opened a Domiciliary account on a whim, about 7 years ago when I holidayed in Nigeria.

Although I've been back to Nigeria about 3ce since then, I haven't traveled to my hometown where the domiciliary account is held. My Dad also opened a £30k domiciliary account last year to fund a building project. He later discovered that he had enough Naira to complete the project; which was more convenient than withdrawing £ sterling and converting to Naira etc.

The diaspora is littered with Nigerians, who work hard to earn a living and who remit savings to their Dom accounts. They do this, in anticipation of the day they will eventually return home for good. Till that day comes, these funds are likely to "lie idle" as CBN Boss Emiefele puts it.

I think the FGN via the CBN should introduce, promote and sell $ nominated bonds to Dom account holders at generous interest rates to fund the Power industry and agriculture. A win-win situation in my humble opinion. Another poster on this forum has already suggested that the govt should introduce $ nominated Treasury bills; another brilliant idea in my opinion.

Meanwhile, does anyone know whether or not Nigerian banks pay interest on Domiciliary accounts? Any figures or examples, please?

To your last paragraph, NO, regards if funds where stolen answer is No as well, this is another ploy by lazy journalists to promote scare mongering and divert people's attention to the problems we face in Nigeria financially,.This usually comes when the CBN wants to do something fraudulently.Just watch soon they will re announce they are converting all forex in Dom account into Naira,Reason: To force people leaving Idol Forex to invest it more so it will be paid in the official rate circa 190-200.

rusher14:
Seun, why would the government want to restrict the inflow of cash from abroad?

In fact, isn't that what they are attempting to encourage?

The only thing I gained from this expose is that the government is concerned that such idle money isn't being put to use locally and wonder how they might encourage this.

What would you call a govt that controls or have a say on what its citizens do with their own money

jchima14:
President Buhari is reportedly to be under intense pressure from some chieftains of the All Progressives Congress (APC) to make a reorganisation of his cabinet.

Post Nigeria reports that as part of the close at hand reshuffle, the following ministers have been seen to be doing nothing and many have recommended for their immediate resignation.



1. Geoffrey Onyeama – Minister of Foreign Affairs

Onyeama is said to have failed to manage Buhari’s public and international perception that has been traced to the lack of a foreign policy agenda.

More than nine months after inauguration of Buhari’s government Nigeria as the giant of Africa still does not have a focused foreign policy agenda.

2. Aisha Alhassan – Minister of Women Affairs

“Mama Taraba”, as many called her after the governorship poll in her state, was reported to have told the grieving Chibok parents that the girls were not abducted under the current government. Mrs. Alhassan is also yet to address the case of the abduction of the 14 year-old Ese Oruru from Bayelsa state. The girl was converted to Islam and force to marry a man from Kano.

As a minister of women affairs, many Nigerians had expected that she would have been at the fore front of the Chibok agenda.

3. Kayode Fayemi – Minister of Solid Minerals

The ex-governor of Ekiti state surprised many when he was assigned his portfolio as he was reported to have said that he would need time to learn in his ministry.

More than 3 months after Fayemi received his post the former governor is yet to persuade Nigerians that he is the right man for the job.

4. Lai Mohammed – Minister of Information and Culture

Lai Mohammed seems to refuse to move on from the days of political campaigns. Many Nigerians see his public statements as dent the public image of the Buhari government. The minister speaks on every issue, even though he does not have the right information, he would always speak.

Mr.Mohammed has continued to blame the previous administration for all the failures. Many believe the former spokesmanof the APC would be more productive if he returns as the spokesperson of his party.

5. Adebayo Shittu – Minister of Communications

The role of the ministry in the out-of-court settlement by MTN Nigeria, and its payment of N50 billion to the Buhari’s government still remains unaddressed. The telecommunications regulatory organ, the Nigeria Communications Commission has been shielded away from the settlement process.

President Buhari had on November, 11, 2015 assigned portfolios to 36 ministers who are expected to implement his ‘change’ agenda. Presiding at the swearing in ceremony of the new ministers, the president said that the assigning of portfolios was done to put square pegs in square holes, adding that members of his team were carefully chosen and assigned portfolios to reflect their capacities.


SOURCE: http://nigerianewsonline.com.ng/list-of-ministers-likely-to-be-sacked-by-buhari-soon/

these ministries do not have direct impact o n Nigerians regard the hardship facing us now,.Ministry of power and steel plus Petroleum is what we should focus on plus ministry of Agriculture.

Ndlistic:
Just small rain that fall today see how Faulks Road In Aba looks like, Faulks Road is the Road that leads to Ariaria International Market, Aba. Governor Ikpeazu should do something about this road. This is just the beginning of the raining season and it look like this. Aba needs change. See pictures below..

Credit: http://www.ndubuisiude..com.ng/2016/03/see-how-faulks-road-in-aba-look-like.html?m=1

Come to Benin . you will uderstand that yo5y guys are learners.

Welcome to CHANGE

wristbangle:
But d fact remains that he is christain. Mind u, ogun state is also taking a step to curb normadic activities and and expect other states to do the same. Enough of these fulani encroachment.

They are more than welcome in Oghara, sapele,warri.
We have grass that needs clearing. Any kpem, free Suya for a whole yr for boys

spyder880:
More. ....

Good depth. I am taking it to be 1mtr depth

PiperAlpha:
They're have one thing in common. They're all Muslim governors.

I agree with you on this one

papaejima1:
Wrong!
They simply go to the nearest barrack and call their fulani soldier brothers who raid the community and kill the residents as a lesson. It happened in Rivers State sometime under Obasanjo or Yar Adua presidency.

Oga which yr be that what community?

seunny4lif:

The thing taya me too
Sometimes I wonder what are our Yoruba leaders are doing ?
Dats ketu problem can't happen in any northern state ...
Dats why I still respect Igbo exp Aba and Onitsha
Dats nonsense can't happen there cos by now all the Hausa don run go Delta state or Army Barrack
This is Lagos state

Nah lie run go which army barrack? Who go let dem come out of head bridge?

okuneddie:
Omo see criminals......make God no let us see frustration o.....I almost dived into this one time like that but sat down and was like what if I'm caught, what will be the reaction of my parents and siblings.....I swear I don't pray for any problem that will make me commit crime cos its not even an issue.....I've being thru it before. God have mercy.

Wise decision

olu77:
You are right. They wrecked the worst havocs ever when we had their extremely weak hero as president yet he couldn't even come up with a helpful suggestion. However, this is a very welcome development.

Make unu dey dere dey make noise. Instead of unu to round up the cows and make one year worth of Suya unu dey dull thisngs

dre11:
www.punchng.com/clearing-agents-disguise-n222m-drugs-as-hair-extension-foodstuff/

I come check Name. Nothing new as Usual. If not from the right must be from the left of the country

dondokunseun:
YORUBA RONU


For how long are we going to remain a COWARD in our land? Many innocent lives are dying daily because of our cowardness.

HAUSAS and YORUBA fight in Lagos.

Imagin an insult in our land.

If in SOUTH EAST they have MILLITANT Speaking for their land,

If in NORTH EAST they have BOKO HARAM

If in NORTH WEST they have AREWA YOUTHS and LOCAL HUNTERS

If in SOUTH SOUTH they have MASSOB/IPOB speaking for them

Where is our OPC in SOUTH WEST.

Are they only in our land for election campaign or federal contract?

#whowillsaveus.

They thing tire person

Mrchippychappy:
Ondo State Bans Activities Of Fulani Nomadic Herdsmen, Threatens To Arrest Defaulters
Ondo State Commissioner for Environment Sola Ebiseni made the disclosure in Akure at a stakeholder meeting to deliberate on the constant clashes between farmers and the Fulani herdsmen in Ondo State.


Ondo State Commissioner for Environment Sola Ebiseni made the disclosure in Akure at a stakeholder meeting to deliberate on the constant clashes between farmers and the Fulani herdsmen in Ondo State.

Ebiseni said the State government had already given the Fulani herdsmen a one week ultimatum to evacuate their cattle from the main town of Akure.

He declared that any Fulani nomadic herdsman grazing cattle at night would also be considered thieves and handed over to the law enforcement agencies.

"We don't want to see the Fulani herdsmen grazing cattle within the streets of Akure, the State capital,” Mr. Ebiseni said. "Animals are not reared on the road in our own towns. They are allowed in the outskirts of the town.”

A SaharaReporters correspondent reported that a monitoring task force team from the Ministry of Environment in the State has been mandated to ensure strict compliance of the order.

"The team is also saddled with the responsibility of dealing decisively with any erring cattle rearers that would flout such order from the State government,” our correspondent reported.

Additionally, the State government resolved that cattle dealers and marketers should register as an association or body with proof of identification. The government claimed that this would help identify cattle rearers who incite trouble and violence.

Among the other major areas forbidden for Fulani herdsmen to graze their cattle in the State included: Oba ile Road, Ode-ilekun Road, Barracks/Ondo Road, Airport/Owo Road, Adofure/Idanre Road, including all permanent residential estates.

During the meeting, Akin Olotu, an environmental activist and chairman of the Agricultural Commodities Association in Ondo State, called for a proper synergy between the States in the federation and the federal government in establishing cattle ranches for the benefit of Fulani nomadic herdsmen.


http://saharareporters.com/2016/03/04/ondo-state-bans-activities-fulani-nomadic-herdsmen-threatens-arrest-defaulters

That's good governance

GENIUS18:
@erico2k2 thanks. Pls can you shed more light on " dig... round the existing ones?

well first you got to have the blue print of the existing building, if you do not have the hard copy you got to let ur builder/Arch do a sight survey ,hey can deduce the layout of the structure you got on ground, he can delete and create partitions to be dug and you are good to go

swagifted:
its actually the seeds...they grow very rapidly, and can be gotten from brazil, I first saw it on discovery channel ...the show called "Extreme Engineering" in the episode where de documented the canal construction in panama. ...google can give you more information.

have you seen teh cows from panama?
Whats wrong with elephant grass?

Obiagelli:
The whole world keeps looking for better species anywhere they can find them. Brazil exports large quantity of grass to the US every week.

Plz share the link.I want to enlarge my knowledge

dre11:
18-yr-old student runs away from home in Enugu; found pregnant for Lagos boyfriend

A teenage girl who ran away from home in Enugu has been arrested in Lagos after she became pregnant fro her boyfriend



http://opera.pulse.ng/gist/mad-love-18-yr-old-student-runs-away-from-home-in-enugu-found-pregnant-for-lagos-boyfriend-id4763173.html

Daddy shoki jnr

GENIUS18:
Please I would like to seek counsel on a plot of land I intend to buy in Port harcourt. The said land has a foundation meant for a storey building on it. Since the seller couldn't proceed with the completion of the planned structure , he has put it for sale. My main concern is that, I would need to erect( build) a different structure on the land(a duplex). How easily can I dismantle the existing foundation DPC currently on the plot of land? Pls urgent advise needed.

Easy dig ur new foundation round the existing ones

blank:
Bone o, with government officials, i don't trust them at all. They are very smart when they want to rip someone off. They might have the skimmers already so it is a case of multiple streams of income for them. This issue of POS being linked to a different bank account was discovered in Lagos state with LASTMA and all that was done was to dismiss the staff and their head involved.

Imagine giving those officials POS machines. You will see them everywhere terrorizing citizens because they know that the money is coming to their own pockets. Just cough and they will jump on you.

Yeh but if you pay U don pay finish the main thing that concerns us is the stipulated ammount is what POS will collect no increase or reduction. It's fixed.

Make D guy no worry E go soon get alert and God go win.

9jatatafo:
What's there in this fhucking story to read? It's a big shame to our genetics engineers and agricultural scientists because if this government was truly serious, these set of people and can genetically modify to get the desired grasses we want. Must we import everything. I won't be naive to believe whatever reason the minister is giving

You have even gone 2 far.what's wrong with the grass we have in Nigeria? ?

Obiagelli:
These high nutrition grasses are to be planted here, yet the headline makes it look like we are importing to feed animals.
Nigerian newspapers are pathetic

However since the cows need the grass why can't the Fulani herdsmen grow the grass to feed thier cows?
Me I wan train goat.the FG also have to import special grass.

DONSMITH123:
who is talking about personal here sir? tell me why you think this is personal

Like Ameachi walking free when he finished the money meant for Mono rail which is now a grave yard of concrete and metals.

frenchpharaoh1:
"Inventing POS"??

Ahah I know u know what he meant

wisest10:
u speak as if u dnt know willie, he does not say what he has not started, check out all his projects he says only what he knows he can finish, as for ur question, as anambra is concerned a serious sanitization has been done, no more or less impesinators(fake agent) and criminal activities has been curtailed to an acceptable level, d writer did not include dat some agecies dat has been sent to monitor dis pple, and remeber, anambra is fishing out ghost worker, this collection is divided into groups to enable clarity and easy readability....i respect dat governor, God has blessed him with sucess, he is active....God bless him

Let me also add I think a narrative of transactions will be on the receipt. So it would be hard for fakes.