₦airaland Forum

nairaimporter:
Dangote has sold majority of his shares in Dangote flour to Tiger brands of South Africa.

So effectively, Dangote no longer owns Dangote flour and that means your theory is rubbish!

Majority (63.35%) of shares sold in 2012 and re-acquired Feb 2016.

http://thenationonlineng.net/dangote-takes-tiger-branded-consumer-goods/


All forex acquired so far were done under the name Dangote and not tiger branded consumer goods (TBCG).

Get your facts straight young man before coming online to showcase your "fullness".

I wonder how what I wrote is a theory not to mention it being rubbish.

CuteTj:
Just to enlighten you.

It is Dangote refinery that is only allowed to secure forex at CBN and not Dangote Sugar and Flour. Note the difference.

All the same, that the said forex collected by his refinery can be diverted to other areas is highly possible. That is a matter for another day.

I believe the importance of Dangote's refinery to the economy will be greater than yours that's why Government/CBN favours it above other companies (They don't have a choice. Dangote is a smart and shrewd businessman).

Let me enlighten you better

This is an extract from thisdaylive on the 14 th June 2016

THISDAYLive
Home Nigeria
Buhari Backs CBN Flexible Forex Policy, Says It’s Down Payment for Success
June 14, 2016


The flexible foreign exchange policy of the Central Bank of Nigeria got a presidential nod again yesterday as President Muhammadu Buhari said it would help the country’s economy, which had been badly hit by a slump in oil revenues.

“The central bank has moved to introduce a greater flexibility in our exchange rate policy. These actions are a down payment on our people’s ability to succeed,” Buhari said in an essay he published on the website of The Wall Street Journal. (See back page for full text)


Although the President did not give details of the policy, he explained that Nigeria needed it to boost its supplies of foreign exchange, adding that the country would need to radically increase its exports and productivity as well as improve the investment climate and ease of doing business.

The president’s essay could raise more anxiety about the details of the policy that Thisday reported yesterday might be unveiled this week. The paper had said its informed analysts believed the details might be released this Friday, being the day the CBN receives bids from authorised forex dealers.

Meanwhile, the CBN last week sold $131,323,071.09 to 11 commercial banks and three merchant banks, the returns of forex utilisation published by the respective financial institutions have shown..

However, dollar purchases by Dangote Flour Mills – $2,444,843; Dangote Sugar Refinery -$1,555,156.62; and IATA -$1,500,000; which were UBA’s biggest customers during the week under review, buoyed its performance in forex returns.



Guaranty Trust Bank Plc (GTbank) held the fourth position with a total of $13,119,712.75, just as Zenith Bank Plc with a total forex allocation of $13,110,393.04 came in fifth. Zenith Bank sold the greenback to a total of 496 customers. Also, Zenith Bank’s biggest customers in the week under review was the Dangote Group (Dangote Agro Sacks Limited, Dangote Flour Mills and Dangote Sugar Refinery Plc), which purchased a total of $2,000,000 from the bank


http://www.thisdaylive.com/index.php/2016/06/14/buhari-backs-cbn-flexible-forex-policy-says-its-down-payment-for-success/

You can click to read it and get more enlightened

*Modified*


Of 496 customers to share 13M in Zenith Bank, Dangote got 2M for his flour and sugar.

Of 788 customers to share 14M FirstBank, Dangote got 2M for his cement.

Dangote Flour Mills also got $2,444,843, Dangote Sugar Refinery -$1,555,156.62 from UBA.

And yet we are experiencing increase in prices of sugar and flour when these are just from this week and at official rate of 199 or 197.

So where is this increment coming from?

Is Dangote sugar and flour also having this acclaimed price increase? If yes thats totally unacceptable considering he has been securing forex from CBN at official rate while others don't.

In fact the prices of these items for dangote's product should be reduced instead.

I and my employees have been out of business since February so dangote can access forex and just when the CBN announced devaluation he has increased price.

Someone should please tell me dangote's sugar and flour are not part of this increment. Is that even a possibility cause he seems to have monopoly over these items at present.

I just pray this is a nightmare. Imagine the president of the giant of Africa having an issue of no WASC certificate in court and hiring SANs to appeal.

What manner of insult and disgrace is this on the most brilliant black race.

So he has been eating salaries which he did not merit, sponsoring his children to schools abroad who are supposed to be struggling for admission in a polytechnic in Nigeria, collected allowances as ex-president all these years and now flying private jets around the globe all under the umbrella of fraud.


This debt incurred by this president to Nigeria even his 100th filial generation can not pay them.

If this is true, this man's asset right down to his slippers should be frozen and liquidated, his children be made to work with minimum wage.

I just hope it's not true cause this could be the reason for the negative direction the economy is going.


Again, I pray the president has the said WASC and present it so everyone will keep mute on this issue.


By the way, today is almost over and am yet to read anything about the new exchange rate.

Propaganda everywhere and nairalanders are here killing themselves.

This is definitely not the modus of operandi of the NDA so whoever is trying to make them look bad is on a wild goose chase. We all have read them warning other militants not to engage the army unless being engaged and also not to attack the populace.

The whoever claiming he has this information, how many of such credible information has he provided about pipeline bombings before the NDA carry it out?

Nigerians and corruption.

Always ready to even betray family members when a "Ghana must go bag" is before them.

I pray peace reign soonest.

I thought that phrase is[b] "belt the cat" [/b]and not[b] "bells the cat".
[/b]

Surprised to see bells the cat on Google though and it's explanation.

I have been buying 12.5kg cooking gas since last year for 3500 naira. Except total and Co. have been draining my pocket.

And who will arrest and bring to justice those who murdered the peaceful protesters?

golor:
One thing I know for sure is that,the NLC strike will nd can never affect d hike of fuel price and in essence nigeria will benefit for it,both d poor and rich, NLC or what ever they called them self should go and sit somewhere.okay least I forget, they have never showed them self ever since dis gvt,that why de came out, so that nigeria will believe they still exist.foolz


Finally, we will all be a winner, be it PDP or APC,the critics can go ahead but, by d time d APC led gvt puts nigeria in a good shape,we will all be a winner, tho d critics might be shy to say wow,indeed Mr president is a Good man.

Just this same way I believe APC will kick PDP out of seat, despite d existing tradition of not unseating d incubate,is the same way I still believe d APC, despite d situation nd heavy critics.....


One thing is for sure,d APC led gvt,no matter how worst it gvt is,it will times 10 better than it predecessor.

GOD bless naija

GOD bless Mr president

And may GOD bless us all,who still believe in the progress of Mr president nd the well Growth of NIGERIA.

Guess u don't even know why fuel is 145 naira.

Will the government fix the black market rate for the dollars where the marketers will buy from?

What do you think will happen when all the marketers need, say 5 million dollars a month and only 2 million is available in the black market which will eventually be diminishing with time?

Let me explain to u a little

Eventually black marketers who have the dollars will increase their rate to say 400/$, again the fuel importers can't afford it because they will be at a loss after importation.

Fuel again will become scarce for months and the price maybe 250-300 naira per liter. Government will sympathize with them again and peg it at say 220/230.
Every one will shout Sai baba Sai baba let's endure it for a while since he is fighting corruption and things will get better soon.

Again the demand for the dollars will be more than the supply and the rate will again go up continuing the process until it gets to 1000 naira a litre and vandalisation of cars for fuel will commence, By this time probably (if nothing is done to make peace with the avengers), Nigeria will be producing little or no crude, job losses will increase to 50% and we all will be looking for the nearest country to migrate to.

My humble opinion is

CBN should consider paying beneficiaries the foreign currency sent to them. If possible establish money transfer organs around the globe for those in diaspora who wish to send money to Nigeria.

This may put more foreign currency in circulation and cushion the effect of its high demand.

reyscrub:
Shall we say dat ASUU got it wrong?

Does ASUU understand the government of subsidy?

Shall we say dat 70& of ASUU members fully support the position of their union regarding going on strike due to subsidy remover?

I & many of my colleague do not support the union decision of embarking on industrial action.

At our Congress today many did not support ASUU going on strike but as long as the national has made up their mind in joining NLC, what else.

The point is dat let us give the present government a trial for some period and see what shall happened to the price and economy.

Why Jonathan's subsidy remover was greeted with nation wide protest and strike was dat he was not trusted and transparent with public fund management unlike Buhari regime.

Remember gsm service provider case dat at first, it was so expensive to belong, but today due to multi player of competitors, any one can easily acquire it.

My opinion for you.

Thanks

Do u honestly believe 145 naira per liter will last for 6 months when the PMS will strictly be controlled by the parallel market rate?

How much dollars is circulating that will be enough for the oil marketers to import this PMS?

The major means through which dollars would have been made available is been crippled by CBN by paying beneficiaries of money sent from abroad in local currency and at official rate.

In three months without devaluation, naira will crash further to maybe 500/$ as a result of its scarcity and then the fuel price will be reviewed upwards again to maybe 250 per liter.

This will keep on circling and that's what the NLC is fighting for.

Still on it.
These photos were taking after a five hour down pouring.

No more stagnant waters on the constructed roads.

Hopefully before the year ends, Aba will have an entirely new look.

More photos

And more...

More...

More photos of ongoing construction and constructed in aba..

kindy51:
won't be surpriSe If I found out you are his brother.. Who will say his mother's soup isn't sweet!

Just accept that u are a confused entity saying what u don't know. Watch my comments on relocating traders to the mega mall and find out.

When I see good I praise it and good things have always been coming to me.

Just take more looks at the photos below

I was not taking snapshots of buildings and swimming pools but roads @yorubalowness. Don't you think your bringing out the illiterate part of you if at all there's a literate part somewhere?

It's just a year for Christ's sake and a newly elected governor achieved all these. Are we expecting all the roads in Aba to be constructed at same time?

Why do some people vow not to see anything good in others because of tribal hatred.

The person claiming he is from Aba, are these the present states of these roads when T. A Orji was there?

Have u not seen the huge drainage system under construction from Osisioma right up to the railway?

Have you not seen Umule Rd linking faulks road to PH express fully tard with its drainage systems?

Have you not seen MCC road linking Aba Oweri road to Umuojima Rd. under construction with its drainage system? (This particular road that almost swallowed a full trailer in my presence two years ago)

Not to mention the ones under construction where I have not been to in a while.

The one talking about faulks road, do you know the disruption of business activities that will take place when faulks road will be tard? Use you brain for ones. It is only normal to deal with other roads that can still lead to ariaria market so when construction begins within faulks road, there will be alternative routes to and from the market.

Many of us often use the phrase " Rome was not built in a day" so how come we still want the whole of Aba perfected in a day.

Lets try and be reasonable, I believe everyone here passed through Secondary school with some sense of judgment and reasoning and should acknowledge good when we see one if we want good things to come to us.

kindy51:
bros ur lie no get part two, so park road don turn to street abi? All those roads are Major road in the city of aba joor stop decieving people!!

Your definitely confused. Park Road is not Asa road. It's the road that crossed into milverton and extend upto East. After Park road, there's pound road, saint Michael's road, hospital road, jubilee road and then Azikiwe road in that order.

Whats wrong with some of u.

YorubaHighness:
Are you blind?

No am not. There is hatred written all over u and even your shoes. For the record, Aba is a commercial city in Abia State and Umuahia is the state capital. All your acclaimed photos are state capitals.

Here are some photos of the cities u claim are heaven,
Compare these photos of the streets in ibadan and the ones I posted. Never been to ibadan or illorin but thank God for the Internet I Google some 2015 photos of some streets for you.

Since you think am blind, I can't find any sidewalks here unless your the blind one.

YorubaHighness:
I don't respond to noise. Major or non-major roads, new roads needs to start having sidewalks.

Upload photos of the streets please yorubalowness

@yorubalowness:

Non of the photos I posted are major roads, they are are the streets of Aba. All of them are named with "roads" if that is your confusion.

The major roads have sidewalks and are still under construction.
Stop exposing your stupidity and mediocrity in public forums.

If his predecessor performed just these in Aba It would have been better.

Will post more photos later

I had to take some of these pictures on a Sunday to get a nice view.

The facts don't lie

Still more photos

More photos

Contrary to what some of us think and have posted here of how bad aba roads are, here are some photos of the roads and drainage all credits to the current Governor Dr. Okezie Ikpeazu.

I can't see these good works and keep quiet but I will condemn any of their actions that seeks to bring suffering on the masses.

As for roads and drainage they have my one million likes.

Marotzke:
TThat is why you should not rush to comment on issues that you are not fully informed about. CJTF have left Maiduguri city( apart from IDP camps). They now operate at city gates to screen incoming people and guide soldiers in mop up operations in recovered local government areas. If you read that CJTF arrested someone, it is either at the city gates or the wide open countryside, which includes Sambissa area.

I am currently in Maiduguri, I also have on me a reasonable amount of foreign currency (definitely not CFA) . There are only two ways of safe egress from the city. By air to Abuja or Kano through Medview airlines or Azman airline. Or by road via Maiduguri -Damaturu, potiskum highway. Any "business man" with a reasonable amount of money plying Maiduguri - Dikwa Road or Maiduguri - Monguno Road or Maiduguri - konduga - Bama Road, or Maiduguri Gubio Road is a potential terrorist and is treated accordingly. The only highway within Borno state cleared for commercial and trade movement by the Army is Maiduguri - Damboa- Biu Road.

I asked a simple question if that post contains these information your given but your still busy explaining.
If your in maiduguri, I am not. All I saw were photos of a man tied up with both foreign and local currency to have been the reason for his arrest.

Had the post contain these information your pouring at its tail end most comments saying "having those currencies is not enough to claim he is a terrorist" would have been different.

Your using your presence and little knowledge of the happenings in maiduguri to conclude we all are in maiduguri and should equally be informed.

If you were say in cross rivers state would u have still claimed he is a terrorist judging by the picture and currency as evidence?

I wonder who is rushing to comment between u and I.

If this country is serious, then they should know this man is suspect and must be arrested.

You can't just wake up from your sleep that you know who are bombing pipelines and walk freely.

He should be arrested and interrogated until he identifies them or the security agents he claims are aware too.

Guess he has not been tortured before.

Marotzke:
By all means, come across to Borno state with your CFA and naira. Leave Maiduguri city and go over to Dikwa, Bama or Monguno. Tell the CJTF or soldiers that you are there for business or sightseeing. They will roll out drums for you.

That this one made it to the city and have access to the press means that there are doubts about his Boko Bona fides.
If they were very sure he is Boko haram, it would have been instant execution.
You think that war is an invitation to eat and make merry?

Did the OP's post mention all these places Or images now have hidden writeups in them that only some people can decipher?

We have seen innocent people being accused and sentenced by law enforcement agents just to close a case?

Is it not possible that since congratulations always goes to soldiers who capture Boko boys, the hunt is now for everyone they find within that region so as to make news?

Fulani herdsmen have been killing people in different regions, are we to start killing every herdsman we see because some of them killed our relatives?

I wonder how it even made front page with no details.

Caleboha:
EVEN INNOCENT FOLKS GET BRANDED TERRORISTS. MANY LIVES SACRIFICED ON THE ALTAR OF PROPAGANDA. THIS MAN HAS NO WEAPON, HARD DRUGS, CHARMS, BULLET WOUNDS OR HOSTAGES. HE HAS NOTHING TO SUGGEST VIOLENT AFFLIATION, JUST MONEY

I wonder what evidence made them label him bokoharam.

Everybody wants to make news and get recognized. Just came back from Cameroon on Monday and had some Cameroon CFA with me and naira.

So if I had crossed these soldiers I would have been arrested and labelled a bokoharam too?

Nice thread, been looking for this.