₦airaland Forum

Franklyspeakin:
Avoid traditional banks for now stick with money point, opay palm pay and the rest

Do you actually read and comprehend the post?

inoki247:
I think the Fintech are not using NiBss cos transaction is going...

Fintechs are using NIBSS for interbank transfers but they settle the payment from there own account with recipient bank before receiving from NIBSS.

NinjaMetahuman:
because it's common sense.
Are you going to buy a personal building of 1billion naira if your account balance is 1.1billion naira?

70% of houses in banana island doesn't go for anything less 800million.


Common sense should also tell you that a city with half the population of entire South Africa cannot be 4th to 5th behind south Africa.

Are you aware that prosperity of f a country is a measure of the purchasing power parity and not population?

goslowgoslow:
So your liquid cash is not part of your assets or what you have? See question ⁉️

Is it the same liquid cash that is designed to loose value per second you what you see as asset?
Are aware that the money you deposit in the bank is a liability to that bank and not asset and the bank have to lend out majority of it as loans or invests in low risk government instruments turning it into assets?
Are you also aware that billionaires like Mark Zuckerberg earns $1 annual salary and Elon Musk earns $0, yet they keep getting richer?
Wealth (networth) is assets minus liabilities, where is measured in stocks, bonds, T-bills, mutual funds etc and not bank accounts.

Dreal1247:
Let them complete the turnaround maintenance of the three national refineries and make them viable again. Other private refineries should be encouraged to spring up. Otherwise, Dangote will make petrol to sell for #2,000.00 per litre in this country. He has almost silenced the importers.
The importers should also reposition themselves as the importation will soon be lucrative again.

After you have voted in bad government in 2027 elections, ₦2,000 per litre of petrol might be the cheapest.

goslowgoslow:
Fake statistics! There are over 3,600 people in Lagos with over one million dollars in their account. All those Alaba and Idumota traders get billion for their account. By the way how were they able to compute that of Nigeria, a country where the government doesn't know what citizens are making.
Rubbish statistics.

When did they start rating millionaires based on bank accounts?

lenghtinny:
With the kind of affluence and opulence in Abuja, one would believe that it would topple Lagos at least

Affluence and opulence like driving liabilities called super cars?

bizzibodi:
Tell me when he started growing that from the scratch,did he inherit billions?

You have Internet on your device, do your research.

Long and short positions taken on commodity exchanges

uniquetechng:
What is the determining factor ?

uniquetechng:
Nigeria is leading African oil producer with 1.9m bod while Ghana has 180k bpd, we're incomparable.

When the quantity oil produced become a determinant of pump price?

NSK4U:
Yes, is there any problem with that?

When did an Ikwerre man become an Igbo?

420Explorer:
Do your research.

Simple question, what makes it criminal?

NSK4U:
you heard 80 companies in this thread, right? Another European report linked him to over 100 firms, how many of these firms were stationed in his region? Have you been to Lagos to see what he built? Wigwe without argument was part of the few Igbo elites that underdeveloped the Eastern region at the expense of other regions

Igbo elites?

Josywhyte:
So make we do wetin with this news now?

Know how the world you lived in is designed and worked economically, legally, financially etc and plan on how to structure and leverage on them.

soccerlite:
Money laundering schemes for politicians and fraudsters

Nothing more

Point out the laundering schemes

bizzibodi:
Wealth without enterprises,no factory, machineries like dangote,where does he pluck all those money from?a conduit pipe for corrupt politicians.

Which one is wealth without enterprise again?
Access Holdings, Construction Companies, Real Estate Companies all listed both in Nigeria and first world countries looks like a joke?

franchasofficia:
OH yeah, Forbes focuses on accessible income and assets, especially publicly held shares in their ranking.


There are many richer people who don't have huge publicly held shares and publicly known assets that Forbes can access

Own multiple companies doesn't automatically increase your networth, it is the value of the companies.

DomPerignon:
He built his wealth legitimately and he was hiding it in shell companies and properties across the globe?

Last time I checked, legal wealth were all hidden in shell companies, offshore companies, trusts, family offices. Only an uneducated, ignorant fellow built wealth and exposes his/her wealth instead of hiding.
There is a stage of money that nothing be your name and should be hidden. This stage is where Nigerian politicians and religious leaders use to present false humility to there followers who are ignorant.
We also heard a popular presidential candidate telling his followers he has no house in Abuja. That is a good example but most of his followers that know.

RedChair:
If all I have been reading about him is true, I am becoming very disappointed in the man.

You are getting disappointed of seeing how wealth is structured or what?

EponObi:
Just looking at the wealth distribution in the illustration, you can easily see Wigwe wasn't clean. I won't say more than that.

What makes it unclean?

420Explorer:
Criminals disguised as bankers.

Please,can you explained what is criminal in the article.

Idaytesj29:
Well, I don't know how current or informed you are, it may be a sector where you worked.
I believe transmission of electricity should not be that hard.

National Grid should be decentralized, the 6 geopolitical zones should have their grid. Let's decentralize this and allow for the unbundling of this chaotic approach

The New Electricity Acts have signed by late president Buhari has decentralized the entire but the federal government is still in charge and doing some expansion.

Idaytesj29:
We are not generating enough... 200 million plus people and industries can not rely on 4000MW of electricity, it's too small.

If they add 20,000MW they will have to increase the transmission capacity for sure

Nigeria's electricity problem is caused by the federal government through TCN with a 5,000MW transmission capacity and not the generation with 14,000MW.

OredoPikin:
The refinery he built, we can't afford fuel
His cement is the most expensive in Nigeria
Yet u want him to invest in power.
Are u even normal at all

You who keep voting in bad government that promises to reduce your purchasing power, are you normal at all?

Fiscus105:
It's the responsibilities of your govt to make it affordable and not Dangote, tell them to reduce tax burden and subside things for masses the way they are doing in advanced countries and see prices come down.

Today, in every ₦12,000 a bag of cement you buy, your govt taken ₦5200 as tax.

So, no where to channel Ur greveiance and ignorant to.....

It is only in Nigeria that citizens are afraid to confront a problem especially if government is the cause, they prefer to shift blames and use religion phrases to give themselves hope.
About two months ago, the Nigerien government placed a 50% subsidy cement while Nigerians while on a blame shifting conference.

akaahs:
U need ur head to be examined.
Most we suffer what other countries are suffering when have crude oil deposited in our backyard? What happens to fixing our own refineries and saving for the rainy days like this?

How does fixing your own refinery save you from high oil prices when all subsidy has been removed?

Razzness:
This is the handiwork of the US and Israel; not everything is Tinubu.

It 100% the handwork of Tinubu who promised to reduce the purchasing power of Nigerians during his campaign.
Tinubu met forex at an official rate of ₦450/$ but today, it is over ₦1,350+.

Tenses:
The USA has 131 active oil refineries while Nigeria has 1.


Which country benefit more?

Nigeria with just 1 active refinery or USA with over 100 refineries?

How does a 100+ refineries become a prevention against bad government policies?

Tenses:
To some extent.

To some extent like?

Tenses:
I am not against dangote. If not for him Nigerians would have had it real bad in this USA-Iran war.

I am only showing concern about the monopolistic nature of the most important sector of our economy.

Two or three working refineries will do a lot of good to nigeria and will not negatively affect dangote.

When did two or three refineries become solutions to bad government policies?

Inspirer1:
OPEC dictates output for member states, by controlling output they control the price of crude, OPEC currently allows a little above 3 million barrels for UAE to supply to the international market, but UAE are working on producing about 5 million barrels, so when they exit they can supply 5 million barrels if they so wish, and you know what that means, more supply leads to drop in price.

I have noticed that this textbook theory you quoted seems only to work on intangible assets that cannot be seen or touched like stocks, ETFs, cryptos etc and not physical commodities like oil, gold. UAE increasing oil production in not equivalent to price reduction because oil prices are determined by long and short positions taken by industry players on commodity exchanges and not necessarily physical demand and supply. Also, industry dustry players will also create artificial scarcity by floating oil tankers

Oakenshield:
Baba is just playing pingpong with Nigeria. He has no reason to increase price if our useless refineries were working will dangote be doing all this

You played pimpong with yourself the day you fold your hands and watched Tinubu removed petrol subsidy