₦airaland Forum

guccidriver93k:
Now, I am a student, furthering my studies. And he is working, he has worked for sometime too.
Ok, so I have some money that I am saving to do something later next year, when I will be graduating. But my fear is that he doesn't sound like he will give me back this money. Two, I have a problem with him wearing a 93k shoe in this harsh economy knowing that the money can be saved and invested in something of worth. His choice at the end of the day sha.

Do you think I should buy it Opinions pls

@OP, no beating about the bush, I am 100% with you on this, and with your reason(s).
In fact "them born you well" and your head is on your shoulders!
You are right. Stick to your position and do not allow yourself to be blackmailed.
Your mind already tells you, he might not give you back, and I can be willing to bet on that.
If you are thinking of long term with him be careful of what you indulge.
I will have reservations if a young guy dating my relation is interested in asking this from her, especially if he has not been earning in excess of 400K NGN for at least one year.
You are most probably dealing with a vain glorious guy!
Let him go to shoe shops in Nigeria and make his choice and pay his bills without involving you.
The guy that wants you to buy on his behalf a shoe worth 93K, how much does he earn, what investments those he have after all those years of working.
I do not have anything against how much someone's shoes cost, in fact some guys can make that much in less than an hour. I think the cost relative to earnings is more important.

Who is surprised?
I am not surprised!
Six performance criteria were used; "global reputation, research impact, staffing levels and international complexion”
To enhance good understanding of these criteria, permit me to interrogate some of these criteria individually.

Global reputation: How well know are our schools internationally? What is the international perception of each of our schools.Do people and how many foreigners know the strengths of our institutions and want to school or work there.

Research Impact: What new and significant findings are linked to our ivory towers. In what genre of journals are our academics publishing? First grade journals in their fields, 2nd grade or un-rated journals, predatory journals etc. What is the scientific, social, and technological impact of these publications.
How much is the research budget of our universities collectively and individually for the past five years. Is there an established culture of research?

Staffing Levels: What is the quality of staff in our universities? percentage of PhDs on teaching and technical staff? Where did they train? How is there research profile? How much international exposure and collaboration do they have? How many foreign scientists are on our institutions' teaching staff individually and collectively?

International Complexion: What percentage of our students and teaching staff are non-Nigerians. How many flags are represented in this percentage

I guess is clearer why we are so far behind in these rankings.
Significant improvement in our ranking needs deliberate and strategic planning, policy changes and time (at least 6 years).
Teaching is different from research.

So when are the presenting the list of "noise-makers"!

Ronkuns:
http://www.thisdaylive.com/articles/shareholders-approve-flour-mills-subsidiaries-merger-with-holdco/220371/

Shareholders Approve Flour Mills’ Subsidiaries Merger with HoldCo

"As a result, the company sought and obtained shareholders’ approval to raise its authorised share capital from its current N2 billion to N2.5billion and to thereafter, subject to regulatory approvals, issue additional shares by way of rights to existing shareholders on the basis of five new ordinary shares for every 12 ordinary shares held at N27.50 per share[i][/i]"

How realistic is the pricing of the rights, considering that the shares currently trade at about N23? Does this indicate that a bull run is imminent on FMN stock to drive the price above N27.50? Otherwise, the rights issue may not be taken up.

Don’t be too sure.
Move with caution.
Be mindful there has been recent NSE tradition with rights offers, in which the "market masquerade" tend to pull stock prices below the announced rights prices. If my memory did not fail me Oando, Access, and I think Diamond bank are recent instances.

pcguru1:
Well maybe its because ideally human beings are meant to trust one another. So maybe you should be looking at why do guys need to lie. You cant blame someone for trusting someone. However as a Nigerian I don't trust Nigerians

Can I like half of your post?
I liked these: "Well maybe its because ideally human beings are meant to trust one another.........You cant blame someone for trusting someone."

ifeykay:
BNSITL, Has anyone been able to sale using the Itrade since Monday?
I feel very frustrated the way Morgan has handled this problem without offering any alternative.
Our market is time conscious and Morgan seems not understand this.

Morgan should do something fast!!
It is not funny.

@ OP
Honestly one thing I was able to deduce from your post is that you are poor.
Note poverty is not measured only in NGN and USD!
I did not mean this as an insult, and hope you do not see it as one.
I say it the way I see it.

ACCESS on full bid!
Offer dried up, any news?

madridguy:
I smell lies.

I had my doubts but a quick google seaech confirmed this actually happened.
See links below:
http://www.dailymail.co.uk/news/article-3204828/Riot-breaks-overcrowded-refugee-camp-Germany-resident-tore-pages-Koran.html
http://www.express.co.uk/news/world/599837/German-riots-migrants-rip-Koran-torn-pages-asylum-seekers
http://www.bbc.com/news/world-europe-33999801
http://www.dw.com/en/germany-refugee-riot-injures-15-after-koran-defaced/a-18659573
http://www.hngn.com/articles/121532/20150821/riot-refugee-camp-asylum-seeker-tears-quran-pages-overcrowded-german.htm
http://www.expatica.com/de/news/country-news/17-injured-in-German-refugee-shelter-riot-over-torn-Koran_504724.html

ArodewilliamsT:
u tried reaching me?

Yes.
Check your mail.

Perhaps he is trying to say it is the party policy!!!

This does not make much sense.
Are these 6 countries the only ones Nigerians reside?
No centres for Nigerians in the whole of Euro area, the Scandinavia, and Russia!
1. (Washington DC, Atlanta, New York and Houston) United States of America;
2. (Johannesburg) South Africa;
3. (Beijing, Guangzhou and Shanghai) China;
4. (New Delhi) India;
5. (London and Leicester) United Kingdom; and
6. (Dubai) United Arab Emirates.

@OP
I wonder why people will see fire and still be asking can it burn.
Continue with this babe at your risk!
I think you should take a walk, that babe is not ready!
I read where you said pastor(s) said .................., but you are seeing !!!
I prefer people make such crucial decisions based on what the know, what the see and what they think.
Be a man, stop being a wimp and act decisively on what is.
A babe is continuously disrespecting your person and relationship and you are talking of going long term.
Do not come in a couple of years to post "my children are not mine"

On a lighter note
Since your babe is so into exes, break up with her, let her get a new guy, then you become her ex

nio68:
is it the oil price that is driving this persistent and worsening bear market? or slowing growth rate in China? abi na all of the above. I hope a global crisis is not looming .

This article should give some insight
http://nairametrics.com/contagion-how-china-is-tipping-the-world-back-into-recession/
I guess winter is really here for oil dependent and import dependent economies, and Nigeria falls into both categories.
I think the lack of direction from the current administration is exacerbating things.
It is a connected world. I think the foreign guys are "fleeing"

9free:
If only one knows the date Oga Buhari will name his cabinet, na to buy before that date go sure pass

Please do not make investment decision based on that.
You will most probably be disappointed. The momentum has been lost.
My guess is anytime from October till January 2016.
I think the market will be mostly bearish till year end.

[quote author=enitiObanke post=37238423]This brings me to the second chapter of the integrity story. The first chapter is about the aura and personal capital of President Buhari which we sold as capable of bringing back the fear and notion of consequence into the system. That side of things is working – albeit in a sole administratorship format that is worrisome. We have been told to wait till September. We are waiting. The second chapter has to do with the word of a man of integrity. I am still studying the outlines of this second chapter. I don’t know where President Buhari intends to go with the idea of his word as his bond so I am just going to point out two early disquieting things he needs to bear in mind as we all struggle to help him return credibility to our system and country.
A leader’s word is a key part of the business of integrity. It is pretty straightforward. Nothing complicated about it at all. Where a leader tells the people that they will find osaka, they must not get there and find osoko; where a leader tells the people that they will find osoko, they must not get there and find osaka. President Buhari’s word must remain an integral part of the narrative of integrity. Something as simple as a promise made openly and nationally to publicly declare his assets is becoming something of an osaka-osoko story and I don’t like it at all. [/i]One had been prepared to even overlook this asset declaration matter in the context of the bigger gains we are witnessing on the anti-corruption front only for Femi Adesina to return it to national discourse in an arrogant and dishonest manner.
[i]In a recent interview with Kayode Ogundamisi, Femi Adesina claims that President Buhari did not promise to declare his assets publicly; it was the APC that made the promise! This is a lie. Like Nuhu Ribadu, who abused Goodluck Jonathan and Patience Jonathan, and later ridiculed himself by struggling to claim that he never said any such thing, Femi Adesina appears to have forgotten Google! Candidate Buhari did not only pledge to “publicly declare my assets and liabilities”, he did so in a document he entitled, “My Covenant with Nigerians”. I advise every Nigerian to Google and keep a copy of President Buhari’s covenant if this is the way his media team intends to play the game. A covenant is an even more serious business than a promise or a pledge. Neither the APC nor the Nigerian people forced President Buhari to make this covenant. He did it of his own volition. But it is now his word. It must be his bond.

@OP
I have already downloaded a copy of his covenant with Nigerians in pdf format.
Below is the link for those who have not or do not have a copy.

http://hrannigeria.org/wp-content/uploads/2015/06/GMB-COVENANT-WITH-NIGERIANS-ANNEX-1.pdf

From January 1, 2016, I hope to bring it out to evaluate "how far"
For the meantime I am disappointed that word spinners have started trying to misinform us on what was said concerning public assets declaration.
In case my comprehension of English is challenged, which I doubt, can someone graciously explain to me the first point on page 3 of this document (in the link above).

angelo82:
You should think twice..........There are positive developments for the banks especially tier 1 banks like FBNH,Zenith...........One major one is the securitization of state debts into FGN bond by CBN is very good for FBNH.............FBNH exposure to states is 110Billion Naira...............Expect bulls on financial stocks...................

I get your point, but you should also put into consideration that what those banks thought was a short term transaction (and financed with short term funds) is now a long term transaction. The banks without "enough" buffers are not going to maximize this.
The good thing however is the classification and weighting of these lent funds changes to the benefit of the banks.

seedgrows:
op don't leave her if she is loving and caring as u have written on ur post please if you let her go you will regret it sooner or later, she made a mistake out of desperation cos she truly wants to be with somebody I think God has blessed u with such a woman be happy with what u have who knowns what will happen if u let her go.
one thing u have to understand out there in the world nothing as a perfect woman. lot of comment here that u should get a young lady please do not be deceive u can't tell what the next woman will look like
God bless u and ur lovely wife take care of her she deserve the best from u as u have always supported her

@seedgrows
I hope you say Amen if I say, may this kind of blessing locate you!
I scroll through the thread and I see many "wicked", emotional and "distant" advice,
If I am correct in my deductions from the OP's post and what he said is the way it is, these are the facts of the matter let us look together at these facts:
Fact 1: About 4 years ago the OP was 35 years and thought he was getting married to a 35 year old lady. (Note: Most naija guys will go for or prefer a younger lady)
Fact 2:From 1 above OP probably assumed "they" had a 10 year reproductive window!! (but he actually had 2 years or thereabouts and did not know it)
Fact 3: OP entered into the "marriage" hoping to have his own biological children.
Fact 4: The truth about the lady's age until they went for fertility things (babe was not ready to come clean until the truth could not be suppressed or hidden. If the lady had a child during this 4 years OP will most probably be in the dark).

On the basis of these facts my perception of the whole thing is that the OP has been scammed big time,
People are talking of forgiveness, but I want to ask what exactly do they want him to forgive? What about trust?
In my opinion there was never a marriage! It was all about the lady and I believe she know the game is up.
For the OP, I am not going to tell you what to do but I have a question for you and the answer can guide you.
If you are heterosexual and see a guy that presented himself as a gorgeous lady, and ended up "marrying her" only to realize the she is a he on your honeymoon, what will you do? Will you forgive and forget? Will it still be that only strong people forgive? Be guided by your answer(s) to this question!
Whatever your decision try not to be bitter.

@ lots of posters
This is really a hard one, but I was mad at how people were telling OP to take medicine they will never touch, and worse still involving God in it, to make the OP look like he is the guilty party.

ogadeolu:
What most investors dont knw is that the market will still continue to go down, while those who have hot blood will continue to average down and manage their loses, but the calm, cool and collected investors will wait for the falling knife to hit the ground and a good sign of reversal, they will plung into the market and ride the bull back up, wait till when FBNH is about 5naira, Access about 2.5, UBA about 2.0, Oando about 7naira, then u will knw what is up......my advice is that set your stop loss if you are not for long term as in if u are a JIJO master and when it is hit, dash out and run like ur tail is on fire, if u are for long term, keep smiling and wait a bit further to jump on some juicy stocks and then ride the bull up.

Invest wisely, life is money.........

@ogadeolu
I think you have a point!
We learn everday.
This market has now become somehow. Just when you think you have got a deal on a stock it goes southwards the more. There is no doubt that many stocks are "cheap" and testing or have tested their 3 to 5 years' lows.
But the mood in the market is not enthusiastic. I have tried to ask myself what could be happening to the market.
My hunch is that part of what we are seeing in the market is due mainly to uncertainty in the absence of clear cut government pronouncements to guide the market. Secondly, foreign investors seem to be exiting the market and betting on naira devaluation to trend oil prices (Note that the Saudi Riyal, Russian Rouble are doing so). My hunch tells me the administration is not going to go that way soon. Thirdly, folks are hoping on announcement of ministers to help the market head north. The government seem to suggest this might happen by September but I have my reservations. I think it may happen by October, but then momentum is lost. Last and very importantly, if the government really start walking the talk on anti-corruption, it is likely that folks caught in the web with massive stock positions will begin to offload to save their ass.
In summary I think the bears are here with us for sometime! Winter is here with us!!
This season favours long timers with 3 to 5 years horizon
I pity the entities that have planned to raise equity, it is a management's nightmare with such valuations.

9free:
Biko, where una dey get money to dey pump for NSE everyday?
Abeg make una show us dey way o. Na brothers and sisters we be for here.
Madam mercy, Diamond bank still dey give soft loan without collateral?

Did somebody just mention Diamond Bank
I just saw Diamond Bank traded at a low of 2.91 today and closed at 3.00 NGN.
But to me "E never fall reach"
Imagine management that was lucky to raise fund at 5.80 NGN and paid a stingy dividend of 10 kobo when even NPF Microfinance bank and other sub 2.00 NGN stocks paid much more. The stinginess of the management is something else.
Oga market please abeg you flog Diamond well well so that management will seat up and realise that you Mr. Market have a long memory and reward stocks treating shareholders.

Caveat: I have some Diamond in my portfolio.

This market is really tricky.
Can't believe what I am seeing.
If this is correct; total offer of about 500 million (over 50 million available) offer for Access with no bid as at 12.25 hrs.
Seems like massive dumping to me.
Does anyone have any info we do not know about?
Are we getting less than expected performance in their H1 results?

Yem0350:
Bye bye to Evansmed. I wich d rest of u in d bus best of luck

Sharp Man!
I like your style, no time to waste. JIJO with good percentage

I am tired of all these "source, source" articles that do not mention names.
For transparency let them mention the names of who has "returned" what so that we the citizens can open our own register and keep the tab.

I can bet on it that the lady in question is married to a quiet and religious man (and possibly religious herself).
I can also bet that instead of standing his ground the guy has been being nicer, indulging her, picking all the bills, trying to prove to be a man, possibly with little left by month end. The babe will scarcely be satisfied.
It's a pity you are dealing with a Naija babe who regards people by the size of their pockets.
Most probably she has evaluated the husband's limit and now integrating within this limits.
Most probably she believes the guy is "stuck" with her and will continue to tolerate her mis-demeanours.
The man's manhood no longer stands when with her because his emotions towards the wife has been "assassinated" by the lady's actions.
The engine of this marriage is already on fire.
First the sex life dies and then partners grow apart and then become room or house mates.
The guy should wake up and set the limits of the bullshit he thinks is fair to take.
This guy should imagine what will happen to him if he ever loses his income.

Youngzedd:
Banks Rejects Payments For Online Transactions Exceeding $300 Per Day.


I got the mail from my bank today.

That's true I just got the mail from my Bank citing difficulty in sourcing FEX for settlement.
Stormy times ahead.
It seems things are about to get really ugly!

Adesiji77:
Don't conclude so fast...if banks have to publish the names of all their chronic debtors, newspapers would not be able to publish any news/article for that day or even days. There are so many smaller debtors in our banks ranging from salary account holders to different shades of SMEs.

What happened is this: most banks benchmarked their list to say "from N50m and above", "N20m and above", and so on. Besides, CBN has compelled them to publish list of delinquent loans on a quarterly basis. Cc: manie

@Adesiji77
With the clarification you just made, I guess things are even bloodier than I had imagined across the sector!
Little wonder, the banks are frequenty needing and approaching the markets for more capital.

manie:
I needed a loan of about N1million to be repaid in 100 days, I have a good security but my loan was not approved as at when due only for them to call me today when I have succeeded in getting fund elsewhere.

Imagine that!
And they can afford to give out 100s of millions and billions they can not get back 30% of what they lent.

manie:
I have been investing in FBN shares for more than 22 years, the current crops of managers of the company are very clueless, lazy, unintelligent and not proactive. I also have shares in GTB, Zenith and access, but the complacency of FBN management is second to non, checkout how shareholders wealth are been eroded by the actions and inactions of FBN mannagement.

I agree with you on the quality of FBN management.
They have not been prudent enough with shareholders' funds and risk management in loan disbursement.
The banks are busy publishing their respective managements' prudence aka Debtor's list.
To me the debtors' list is a report card of the Management of the Banks. I was somewhat impressed at the comparatively low levels of NPLs , and the lower average of NPL value per debtor for a few entities. I was not impressed at all with these indices for FBN.
I wonder the criteria they use in advancing these mega and "bega" Naira loans that went bad.
In summary, I think the CBN should look into the circumstances surrounding the advancing of these big loans with a view to improved pre-emptive regulation.
A look at this list shows that the Banks are major contributors in asphyxiating SMEs that should be the bedrock of economic output.
Imagine the billions the banks where advancing to some corporate entities. Worst still there seems not to be sufficient collateral in many cases. In my opinion a good chunk of those are irrecoverable.
I saw very little NPLs of value less than 20 million NGN, meaning that the small borrowers pay up while the big guys default.
1 Billion NGN is enough for the banks to advance loans of 5,000,000.00 NGN to 200 small businesses, or 1,000,000.00 NGN to 1,000 small businesses, but the find it difficult to give even with some collateral, but risk billions without due diligence. I doubt that more than 20% of loans in this range will become NPLs.
I think the government needs to do something to motivate or compel the Banks to be attentive to SMEs especially in the light of the fact that the government spent trillions bailing the banks in 2009 (barely 6 years ago) and they are gradually going back to same situation.

idros4real:
I don't know why people are hailing this barcanista of a thing. I don't he deserve any praise cos vividly he was Pro Jonathan who did not see any good thing in Buhari administration but to proof him and his allies wrong as at 10am this morning 1$ = #199 and I don't know where people got this rocketed amount #235. Check xe.com if you are doubting me to confirm.

@idros4real
Ordinarily, I am not in the habit of joining issues with folks online or backslapping.
However, I deem it fit to correct some fallacy.
Barcanista is not a thing!
In my opinion he is a brilliant mind his obvious political leaning nothwithstanding
I have not met him/her before and my impression is solely based on the quality of his online write-ups, which I have not always agreed with.
The fact that we are having these intense discourse points to the facts that the country is evolving.
That we are citizens capable of calling to question the decisions of our leaders, shows we are not a nation of zombies.
That someone does not agree with your position or views does not make him/her a "thing".
I guess we all have a stake in the progress of this country.
If you have ever managed people, you will realize that many times disagreement is not equal to disloyalty, and that in many instances your greatest assets are those that "fiercely" oppose or seem to oppose you rather than a retinue of palace clowns, jesters, magicians, and hanger-ons that hail your every move making you feel like an infallible superman. Of the later we had quite a number in the preceding years.
While we support the present administration to move the nation forward, let us learn to speak our views and most importantly the truth to power. This is part of nation building in a democratic setting.
When the government is "afraid" of what people will say or do you most probably have a democracy, when the people are mostly "afraid" of what the government will do you most probably have an autocracy.
@Topic
I do not envy the CBN or Emiefele at this moment.
In my perception the Naira value issue with regards to dollar is a bit more complex than is obvious to many people.
Among the main things against the Naira are dwindling oil prices/revenue, an extremely import dependent economy, and currency speculators.
In the present scenario there is unfortunately no magic wand.
I think the Naira will continue to be under pressure in the short to medium term , and the "more realistic" or "less risky" exchange rate for most players for planning will be most probably the parallel market rate with a growing list of items exempted from the official supply.
Gloating, Praising, Blaming or Mourning over the sharp fluctuations is a recipe for high blood pressure.
I personally expect these whipsaws at least until the last quarter of 2015 as CBN battles speculators with dwindling revenues, and hopefully the new administrations economic agenda gets clearer for long time planning and also calm the markets.

Faita:
There is a sense in which I can sympathize with the banks. Maintaining records must cost something. When you make someone responsible to protect your wealth or to be on standby to receive your wealth for protection or for further transport on to another receiver, I think you cost them some energy.

My annoyance with this method of business is that the service providers start out nearly or completely muting the idea that serving you will cost you money. They do that to keep you around. Then when other supporting revenue streams start to fail, they begin to employ a mixture of deceit and abrasive logic to take your money from you. At worst, they act like this Ecobank case where they don't even alert you that they are charging you anything until it's become a major problem for you. And suing them then becomes a very messy business.

A relative has an account with Ecobank and each time I've had to deal with them in his behalf I have found them less than appealing. I really wonder how their customers endure them. My experience though is that all these banks have serious customer service problems. They are very poor at taking care of their customers' interests. It makes me think that banking isn't their real business.

Could someone do an in-depth exposé on the banking industry, for heaven's sake?

I think people should seriously consider keeping personal updated records of their bank accounts and ensure to deactivate them as soon as they find them unnecessary. Chances are they will cost you something eventually to keep holding on to them.

Btw, thanks, OP, for sharing the information. It saves us all a lot of undue stress.

This is predatory corporate practice against customers.
This is not a good corporate practice at all.
These banks are shooting themselves on the leg without knowing it, and tomorrow they will send marketers to market products to a subset of the banking population that have had unsatisfactory experience from them, and be wondering why the marketers are coming back empty handed.
The best way to sell a brand is to offer fair and quality products and services.
Customers should be appropriately informed of terms and conditions when opening accounts and whenever terms change, but unfortunately this is not always done when they send of marketers with superlative targets.
@OP, thanks for sharing.
I have a number of dormant accounts i have not used in years as I am not in the habit of closing accounts.
Next time I make it back, I intend to close anyone that has been preying on my funds.
Personally, once I am convinced a brand is selfish, unfair and predatory, I stop patronizing.

Richy4:
OP, I do not really wanna criticize them without finding out from you.

Are you sure no letter was sent to you concerning the fact that your account was dormant for a period of time?

Did you move house and maybe did not get the letter?

I can't believe bankers can just sit without informing the customers about happenings.....

Does that mean you don't get monthly bank statements in Nigeria?

My friend it seems toy have been away for a long time!