₦airaland Forum

...Continues. The question therefore, is why CBN’s MPR is so
high, especially when its product of high cost of
loans is bad for the growth of all economic
subsectors and the attendant need for increasing
job opportunities. From the preceding narrative,
it is evident that so long as monthly allocations continue to instigate the spectre of surplus Naira,
it would be inappropriate for CBN to further
stimulate spending with low interest rates or the
promotion of liberal expansion of commercial
bank credit because of the danger of inflation
getting out of hand. Instructively, however, if CBN restrains itself from
creating fresh Naira supply as allocations for the
dollar derived portions of monthly distributable
revenue, the erstwhile shackles of unyielding
excess liquidity will be broken, and a new dawn
of rapid and inclusive economic recovery will begin. If however the Monetary Policy Committee
remains in denial of this reality, unfortunately, not
even a thousand more of its meetings will
burnish their legacy of complicity and failure to
do it right for our fatherland!

SAVE THE NAIRA, SAVE NIGERIANS
http://www.vanguardngr.com/2014/07/strategic-blunders-cbns-monetary-policy-committee/

The Federation Accounts Allocation Committee
last week approved the sum of over N755bn for
sharing among the three tiers of government.
Ordinarily, the distribution of this relatively
sizable revenue would elicit hope that the
economy will become positively impacted, as the various tiers of government would be funded to
achieve their budget expectations. In reality, however, Nigerians may not
understand why the disbursement of this
allocation would bring in its train, a host of
adverse consequences to our economic and
social welfare. Indeed, the economic dislocation
attributable to such allocations begins with the deposit of the allocated sum of N755bn into the
bank accounts of the federal, states and local
government including, ministries, departments
and other agencies. Invariably, the government deposits become
fresh Naira supply which swells the cash levels in
the banking sector; expectedly, the bountiful cash
inflow is sweet music to the banks as it enables
them to leverage on the fresh Naira inflow to
expand their capacity to give loans to their customers. The extent of additional credit
expansion will be determined by the prevailing
ratio of cash to total assets specified from time to
time by the Central Bank in line with its mandate
to maintain benignly stable prices and exchange
rates in the economy. Thus, if for example, the mandatory cash reserve
ratio specified by CBN is 10%, then every Naira
above this limit becomes surplus cash on which a
bank could leverage almost tenfold to expand
credit to its customers if required. Inevitably,
however, such expansion in bank credit would promote increased spending within the economy
and expectedly trigger inflation as more money
becomes available for relatively less goods and
services; clearly, unbridled inflation spells doom
for all income earners; consequently, the Central
Bank would step in to reduce the cash balances with banks so as to constrain their ability to
liberally expand credit to their customers. Thus, the larger the Naira allocations to the three
tiers of government, the more buoyant also will
be the cash positions and credit capacity of
banks and the more urgent will therefore be the
need for CBN to subsequently remove the excess
cash in order to reduce credit expansion and restrain spending and the threat of inflation. Ironically, part of CBN’s strategy for reducing the
systemic surplus cash is to offer to borrow some
of the perceived excess Naira by selling treasury
bills on which it offers to pay unusually high
interest rates, which are considered
inappropriate for risk free sovereign debts. Late in June 2014, the CBN borrowed over
N134bn with treasury bills; similarly, the CBN
again borrowed N70bn and another tranche of
over N134bn between the 9th and 23rd of July,
2014. It needs emphasizing that the N340bn
loans incurred by the CBN within three weeks will not be deployed towards the remediation of
our severe infrastructural deprivations nor
indeed, can these funds be applied to remediate
any shortfall in the recurrent expenditure of
government, because such spending would only
increase the pressure of already surplus cash in the money market. Technically, therefore, the N340bn loan would
simply be warehoused as idle funds in the
accounting records of CBN, notwithstanding that
the banks would still receive an average interest
rate of about 10% on the sums borrowed by the
CBN. In recognition of this reckless and destructive practice, former CBN Governor,
Lamido Sanusi, last year, belatedly decried this
inexplicable strategy and government’s apparent
folly for placing its deposits at zero per cent with
banks only for the same government to return
thereafter to borrow from the banks and pay oppressively high interest rates. Ironically, in better managed and more successful
economies elsewhere, such practice would be
totally condemned; for example, the European
Central Bank actually charges banks about 0.25%
rather than pay interest on any surplus cash held
by banks. Conversely, in view of our CBN’s feeding bottle
strategy for addressing excess liquidity, it makes
eminent business sense therefore for banks to
shun lending to the risk prone private sector
with its myriad challenges of infrastructure,
multiple taxation, constrained consumer demand, etc and for banks to readily embrace the farcical
business model where government borrows
back its own money at such generous cost. Incidentally, the CBN’s Monetary Policy Committee
(MPC) recently maintained its monetary policy
rates (MPR) at 12% for the umpteenth
consecutive time. The MPR is another major CBN
weapon for controlling bank lending so as to
curtail spending and also control inflation. The MPR is therefore a ‘punitive’ rate at which banks
will be forced to borrow from the Apex bank to
cover their occasional cash shortfalls. Invariably, like Central Banks everywhere, the
CBN will set its monetary policy rate at the level
that would engender the objective of minimal
inflation. Thus, CBN’s MPR will be high if the
objective is to make borrowing expensive and
reduce spending; conversely, the MPR would be set much lower if CBN decides to encourage
banks’ credit expansion in order to induce both
capital and consumer spending to stimulate
production and increasing job creation in the
economy. In successful economies in Europe and America,
Central Bank controls rates are usually less than
2%, so that commercial banks could also lend to
their customers at single digit interest rates.
Conversely, if Nigerian banks borrowed from the
Central Bank at 12% MPR, they would in turn have little option than to lend to their own
customers at the economic destabilizing rate of
over 20% as is currently the case.

@OP, natural order indicates otherwise. The natural roles and attributes of men and women clearly show that men are expected to exercise some sort of leadership(definitely not lordship) in the marriage partnership. You can disapprove of religion and society's "the man is the head of the family" mantra but you can't run away from nature's stark reality.

A delicious tempeh dish.

Mixing cooked and drained soybeans with a teaspoonful of tempeh starter and 2 tablespoonful of vinegar, before packing in perforated plastic bags for incubation and fermentation.

More pics.

More images of fresh home-made tempeh.

Soybeans naturally contain "antinutrients" such as saponins, soyatoxin, phytates, trypsin inhibitors, goitrogens and phytoestrogens. Thank God, traditional
fermentation effectively destroys these antinutrients, which
allows your body to enjoy soy's nutritional benefits. Fermented soy products are tempeh, miso, etc. Soy milk is not fermented.

Please where can I buy tempeh
starter/culture(Rhizopus Oligosporus) used to
start the fermentation process in the making of
tempeh from soybeans. Thanks.

How To Make Tempeh
Making tempeh is very easy. Here we explain how to make tempeh from 100% soy. This is the traditional tempeh as it is consumed in the country of origin: Indonesia. To make 1kg tempeh you need the following ingredients: - 600 g whole dry soybeans - 6 tablespoons vinegar - 1 teaspoon (about 3 to 5 grams) tempeh starter Step 1: Cracking the soybeans The easiest way is to crack the soybeans with a loosely set grain mill. Ideally each soybean is cracked in half. On the left you can see a picture of a Family Grain Mill. This grain mill can be bought on the internet for less than $ 150. With the Family Grain Mill you can split the 600 g soybeans in a few minutes. Daniel informed us that the Porkert Universal Grain Mill can also split the soybeans. It is a Czech made grain mill that is all hot dipped steel, easy to take apart and lasts a long time. Another grain mill that seems to do the job is the Country Living Grain Mill. When buying a grain mill consider that you can also use the dehulled soybeans to make soymilk. If you don't have a grain mill or dehulled soybeans continue with using whole soybeans, you will have to remove the hulls later by hand. If you are lucky, you can find a store that sells dehulled soybeans. Industrial tempeh producers normally buy dehulled soybeans. Maybe they will sell you some soybeans! Step 2: Soaking and dehulling soybeans Soak the soybeans in 2 liter water for 6 - 18 hours. If you use whole soybeans you should split them by squeezing them with a kneading motion. Stir gently causing the hulls to rise to the surface, then pour off water and hulls into a strainer. Add fresh water and repeat until most hulls are removed. Don't worry if a few hulls remain attached. Step 3: Cooking the soybeans Put the beans in a cooking pot and add enough water to cover them. Add the vinegar and cook for 30 min. Drain off the water and dry the soybeans by continue heating them in the pot on medium heat for a few minutes and until the beans are dry. Allow the soybeans to cool down to below 35°C. Step 4: Inoculating the soybeans with tempeh starter Sprinkle the soybeans with 1 teaspoon of tempeh starter. Mix with a clean spoon for about 1 minute to distribute the tempeh starter evenly. It's very important to mix the tempeh starter very well: it reduces the risk for spoilage and the fermentation will be faster. To promote the home production of tempeh we will send you a sample of tempeh starter. Step 5: Incubating the beans Take 2 plastic bags 18 x 28 cm and perforate them with holes at a distance of about 1 cm by a thick but sharp needle. A normal needle is too thin, you need a fat needle or small nail (about 0.6 mm in diameter). This will allow the mould to breathe. Divide the soybeans in the two bags and seal them. Press them flat, making sure that the total thickness of the beans is max 3 cm. Place the packed beans in an incubator at 30°C or at a warm place for about 36- 48 hours during which the tempeh fermentation takes place. Then the container should be filled completely with white mycelium and the entire contents can be lifted out as a whole piece. Now you know how to make tempeh. We hope that you will enjoy the home making of tempeh and ... the eating of it! Source:www.tempeh.info.

A combination of my first and last names. HELP. Please where can I buy tempeh
starter/culture(Rhizopus Oligosporus) used to
start the fermentation process in the making of
tempeh from soybeans. I'm in Bayelsa. Thanks.

Greetings. Please where can I buy tempeh starter/culture(Rhizopus Oligosporus) used to start the fermentation process in the making of tempeh from soybeans. I'm in Bayelsa. Thanks.

Nigeria 3:1 France

Big4wig: A man reached 70 years of age and was affected by a disease which made
him unable to urinate.
The doctors told him that he needs an operation to cure the disease. He
agreed to do the operation as the
problem was giving him severe pain for days.When the operation was
completed the doctor gave him a bill which covered all the costs.
After looking at the bill, the man started crying.Upon seeing this, the doctor
said "If the cost is too high then we could make some other arrangements for
you."
The old man replied, "I am not crying because of the money but I am crying
because God let me urinate for 70 years and He never sent me a bill!"
Have you thanked God for His countless blessings today?

HAPPY SUNDAY NAIRALANDERS

#BIGWIG

'Count your blessings, name them one by one, and it will surprise you what the Lord has done', says the hynm. His blessings are all around and within us. 'Acknowledge the problem but give your attention and power to solutions' ---Anthony Robbins. Happy sunday.

[quote author=frehage][/quote]'Count your blessings, name them one by one, and it will surprise you what the Lord has done', says the hynm. His blessings are all around and within us. 'Acknowledge the problem but give your attention and power to solutions' ---Anthony Robbins. Happy sunday.