₦airaland Forum

where is the recent photo?

If these animals have their way, they would have handled Christians and other non-Muslims like this.

It is a shame on Sunni Muslims. makers of terrorism.

TheRealestGuy:


I thought it was PDP before, now uts USA?

Pick a struggle dude, you can't be stupeed and unintelligent at the same time

You are obviously a US agent paid to confuse issues.

US know more about BK

GenBuhari:
[size=15pt]Too much coincidence that Boko Haram who has been decimated on the battlefield can target and kill top military officers with amazing precision, accuracy and effectiveness.

They even seem to know the precise vehicles in the convoy that these military officers are travelling in.

Obviously BH must be getting intelligence about movements of these officers from somewhere.

When US was giving us 15 armoured military trucks, nobody questioned whether they trucks could be used by US to track key military officers assigned to travel in those trucks, and that the information may be passed to Boko haram terrorists who are secretly sponsored by USA.[/size]

True talk

This match is a pointer to where Chelsea is heading.

Up Blues

Does this people have the power to build secondary school for Nigerien?

He can't include people from Niger Republic as the beneficiaries of the school

This is more like it.

Illiterate Buhari with his uneducated team should come learn

wolesmile:
To be very candid, we need to look beyond our ethnic differences and give this government our fullest support.
Majority of our South South and Southeast brothers, as well as those on the opposition party knows the present government means well for the Nation. But because they chose not to see anything good in Buhari, they criticize all his policies and actions.
Can any sane person, with a sound mind to think rationally, honestly say our present state of economic doldrum is this present government's doing? Don't we all know it's a domino effect from past administrations? So why blame Buhari?
I pity the Ibos most. Instead of them to join hands in making Nigeria great, they'll keep wailing about a Biafra that cannot come to fruition.


Just watch!!! They'll start their attack now.....

Bleep off Buhari. I supported him but can't support a man than discriminate against my people.

Happy he has exposed his Mumu side and is failing woefully

A graduate of.a former polytechnic that later changed to University of East London who failed her MSC program with very limited work experience was packaged and dumped on us as Finance Minister because she's favoured by Bourdilion.

God punish Buhari and Kemi for the Wasted Economy they brought upon us

The Criminal clique that holds Nigeria down will rather drags all of us down to the gutters than to allow the competition that we need to expand the economy.

This lazy forks who designed this failing empire won't ever hear

Another APC in the making. I can't trust anything that comes across as APC

The Tinubu clique wants to obfuscate the real issue and do a Boris Yeltsin with our national assets.

Nigerians beware; we don't need any emergency powers to turn around our economy

Puvour:
I may do tribal slur for fun online but when it comes to a matter of life and death, people should be careful. Some of these people MAY be innocent. More so, death penalty for drug trafficking is very inhumane. I pray for a miracle for them.

Your heart is GOLD brother

To one Igbo guy that was caught in the drug business; there are Ten others that have made scare dollars and send back to save the dying "Other" Lazy tribes who are bent on pulling the Nation down.

There is nothing like good names in making money.

Those who have enough cause to take the risk and a good chance of surviving; carry on.

I will not; but if there are enough motivations and good chance of pulling it; I would not mind.

Congrats to those Brothers that have pulled it successfully to transform my good loving East better than the Arewa and Mgbati lands

Seriously, what are we celebrating here? That somebody wants to sell motor parts?

Me also want to sell Airplane parts !

Insanity

raker300:
Yes, the land was acquired by the previous admin but was meant for the construction of an estate (centenary city). This current admin has shown no interest in the construction of the said estate, wch led the state to revoke the land..does that make sense to all these folks


Buhari is owing anambra state millions of dollars over federal roads deveoped in anambra by the state governor..yet they want to victimize the state.

Buhari should know he won the last election with 1.2 million votes only..

Your liar, that land was acquired 1992 and GEJ was no where involved

StOla:
Azikiwe Jonathan must have hated his Igbo brothers to have acquired their land for the FG. I also remember that an Igbo man Pius Anyim was the SGF then, well may be he was sleeping as was custom.

That is how you misinform people? It was clearly written that the land was acquired by 1992

Life4Varnity:
SO SORRY TO SAY THIS BIG TRUTH.

IT IS NOT GTB BUT FRAUDSTERS BASICALLY ON HACKING. THEY WILL CALL YOU AND TELL YOU THAT THEY ARE FROM GTB CUSTOMER SERVICE THAT YOUR BVN HASNT BEEN VERIFIED SO YOU WILL BE LIKE WTF. IT IS VERIFIED AND THEY WILL ASK YOU TO PROVIDE YOUR CARD NO AND PIN SO THEY MAKE VERIFICATION ONCE AGAIN. ONCE U DROP THIS INFO. MY BROTHER MY SISTER YOU GONE FOR LIFE.(

WITH THAT INFO. THERE IS A GTB PORTAL WEBSITE THEY WILL VISIT THE SITE AND USE THAT INFO TO MAKE SELF CARE ONLINE TRANSFER OR TOP UP RECHARGE CARD.

THIS ARE THE TRICKS. ASK ME HOW I KNOW. I GO EXPLAIN.

GUYZ THEY HUSSTLE. JUST BEWARE AND FOR THOSE LADIES OUT THERE THAT LOVES DISTURBING GUYZ FOR RECHARGE CARD. PLS LIMIT IT IF YOU DONT WANT TO GET INTO TROUBLE. SOMEONE RECHARGE MY LINE FROM ABIA A FRIEND OF MINE. HE ID SUCH THING. IT WAS GOD MERCY THAT SAVED ME. IF U DONT HAVE CALL CARD. BORO FROM UR NETWRK. BAE, STOP LOOKING FOR AWOOF CARD O. ALL THIS OUR GUYZ OF THIS DAYS ARE SCAMMERS, NOT ALL BUT FEW. NOT FEW BUT MANY.

YOU GOT IT ? THANK ME LATER

Lies from the pit of Hell. I have never given out my card PAN nor the Pins but they have debited my accounts severally

Industry, Commerce, as well as employment opportunities, unexpectedly, flourished for the greater part of Abacha’s four year reign, despite Nigeria’s pariah status and the stupendous treasury rape by the dictator. The question, therefore, is how Abacha’s Economic team sustained the erstwhile elusive enabling environment, despite the dysfunctional economy that was inherited. Fortunately, Chief Anthony Ani, an insider in that team, answered this question, in his keynote address, at ICAN’s injuction ceremony on May, 112016.

A summary and excerpts from that paper are as follows; please read on: “We are an import dependent nation, therefore the Naira price of dollars, required to pay for imports, will inevitably significantly impact on multiple sectors of our economy; furthermore, despite the collapse of Naira exchange rate from $2=N1 to N199=$ since 1985, the IMF, America and several international Banks have goaded Nigeria to further devalue our currency.

Recently, even the immediate past President of ICAN also added his voice to the call for Naira devaluation. I hold the view that our Naira is even undervalued and President Buhari should continue to resist the pressure to devalue. Devaluation will further worsen our economic situation, especially when we do not export anything significant except crude oil.

“Invariably, Exchange rate is a key policy variable, and a good exchange rate mechanism, therefore augurs well for price stability and international trade”.

The Naira was effectively devalued when “Nigeria adopted IMF’s Structural Adjustment Programme in 1986, when the Second – Tier Foreign Exchange Market (SFEM) was introduced, but banks and their directors and managers made bonanza profits until things came to a head by November, 1994. The banks were selling dollars bought at N22 SFEM price to end users, and manufacturers at N128=$1; meanwhile, Inflation was galloping at 88% and lending rate was oppressive at over 30%. There was serious price instability as salaries and wages were not aligned to inflation or the parallel market exchange rate. There was discontent in the country and the security of the nation was threatened”.

Consequently, in November 1994, the acting Finance Minister (Chief Anthony Ani), CBN Governor (Paul Oguwuma) and the Chairman of National Economic Intelligence Committee (NEIC) Prof Sam Aluko were ordered to find a solution by the National Security Council. “We, therefore, looked at the macro-economic variables and found that there was over-liquidity of Naira in the banking system, as a result of excess profits from forex arbitrage.

“We decided to eliminate this liquidity and reduce instability and inflation. We also resolved to crash the parallel market by all means, but this was problematic, because, with barely $1bn reserves and less than two weeks imports cover, we did not have the capacity to crash the parallel market, especially when Nigerian importers no longer enjoyed international credit terms, as overseas exporters demanded upfront payments”.

“Ultimately, we (Ani/Ogwuma/Aluko) agreed that for the parallel market to crash, the CBN must fund the needs of the real sector, while banks sourced their own forex to fund the other sectors; we also shut all other forex windows and reluctantly concluded that, an exchange rate of N80-82=$1 will be sustainable, but production and productivity must however remain our abiding watch words”.

Indeed, as soon as our recommendations were effected, the parallel market crashed from N128 to $82/$1; furthermore, we also discovered that proceeds of non-oil exports and remittances from Nigerians in the diaspora was surprisingly nil. On enquiry, we gathered that Asian businessmen, who controlled Nigeria’s non oil exports, persistently falsely condemned whole shipments to be substandard and ultimately declared valueless, whereas these, exporters actually sold and retained the proceeds abroad.

Similarly, the meters at flow stations of our oil terminals malfunctioned for years, with the result that crude oil was shipped for which no payments were made. Consequently, we sealed all these loopholes and opened up significant capital inflows; we were also determined to reduce our heavy dependence on food and petroleum imports particularly”.

Suffice to say that with the removal of the existing tax on overseas remittances and the introduction of other supportive laws, foreign inflows into Nigeria increased, and by 1997 external reserve had risen to $7 billion to make the Naira exchange rate more stable and virtually convertible.

Another important development was that CBN now made a profit of N58 per dollar, on forex sales to the real sector, consequently CBN was awash with Naira which we applied to balance our budgets and also build infrastructures such as the Gwarimpa Housing Estate, the biggest housing estate in Africa, whereas before the introduction of AFEM, these bloated profits were selfishly cornered by banks and bankers.

“In February 1995, I had visited the Paris Club Office in France where I proposed payment of $7bn as full debt settlement spread over 5 years with nil interest, and our creditors were very excited with the proposal. By 1996 during the process of analysis and verification of the entire Paris Club debt, we discovered 18 “failed projects” valued at $1bn which were never executed, but for which the related proceeds from external loans were in all cases drawn down. The Government insisted that rather than pay we should go to court; sadly, we ended up paying these debts during the debt cancellation exercise”.

Regrettably, we paid about $12 billion for what should not be more than $7 billion. The whole Paris Club thing was a debt trap to enforce a structural adjustment programme and they used Nigerian economists, trained in North American Universities for this enforcement. The debt cancellation exercise of 2003 destroyed our exchange rate mechanism as CBN abdicated its responsibilities as the central player in the Autonomous Foreign Exchange Market (AFEM), and Bureau de Change (BDC) were inexplicably licensed and also funded by CBN.

Eventually, there were 3000 BDCs owned by bankers, legislators, politicians, all funded at the rate of $60,000 per week by CBN. With this development, few families or clans took control of the forex market and made a kill with super profits and the rest is history; ultimately, the Naira also became gradually inevitably over devalued. Today, the same Banks with the robust support from IMF are even suggesting that the Naira should further be devalued.

Profits made by banks in respect of their foreign exchange transactions remain humongous and Nigeria is the only country in the world frivolously re-exporting its remittances. It is relevant to note that the Naira is not convertible but remittances which are meant to stabilize our exchange rate are now re-exported. This is the cause of the scarcity of dollars in the market and the cause of the worsening depreciation of the Naira in the parallel market”.

SAVE THE NAIRA, SAVE NIGERIANS!

Vanguard

Jirate:
Hausas are no longer interested in what used to be their pride, they are now after Oil, check out those who have more oil fields and you will agree with me.

How far has oil helped anybody? It only created few lazy rich men. Take away the oil and give us our government to rebuild our land.

I don't want to die leaving Nigeria, the way it is. We are in competition with other countries in the world and need to prove that we are equal humans with same brain as others

I pray someone can take and give to Kemi and Emefele. Two big buffalo wasting our opportunity to make change.

Nigerian Economic Challenges, the way forward.

We all know the country is down. We as a people have never had it good with the Economy except when the few available position was for the few educated elites. Except in the 1960, our economy has never really been planned.

The simple fact is that the country has no savings and it's only main source of income - the Petroleum sector - isn't making enough as a consequence of the international oil market.

That we do not have enough savings and lack source of funds outside oil, is the making of PDP, but blaming PDP is not a solution.

On the long run, we need to expand and develop our productive sector. We can't be farming with hoes and cutlasses in the age. Completely mechanizing our farming and enhancing our farm processing and packaging capabilities. The solid mineral sector should be tapped for our local industries rather than for export.

To bridge the gap between the market and the farmers, our government must bring back marketing boards. Whether completely owned by government or with some privately interests, these marketing boards will explore international markets for our farm produce and protect the farmers from prize fluctuations. They will have better capacity to process and package farm produce than individual farmers. Government investment in these marketing boards is like subsiding production which is good.

These are the basics, which IMF forced us to abandon in the 1970 that lead to the disappearance of the groundnut pyramids, palm oil, cocoa and rubber plantations.

Our technological quest should start from filling the needs of these farm marketing, processing and marketing boards. From conquering hunger, housing and clothing, our advancement will take off. The farms are the basics.

On the short run, the population do not have money in their pockets. Government must put money in our pockets in a creative ways. The only positive ways is to identify key project and mobilize the people to execute those projects. Those projects should be tied to things that can enhance our production - infrastructure (power, roads, rails etc). We must think local and avoid imports as we build these projects. So long as the projects adds money to the people's pocket and adds value on our productive capacity, struggling to match Euro-American standard is not important. Every technology starts in crude ways. Let develop, protect and use our crude implements. They will evolve with time and usage. The government must find creative ways to protect those crude implements. Import control becomes key here.

How now do we source money for the projects. Here is the "Koko". A mixture of borrowing, quantitative easing, intelligent taxation comes to play here. Borrowing is simple and easy. Intelligent taxation, simply means taxing our luxuries. Making those of us who have enough money for luxuries to remit more money to government purse. Cars, alcoholic drinks, imported clothing materials of all sorts should be taxed heavily. Executive houses in the cities should be taxed also.

The rich paying a little more to finance the government is the norm all over the world.

Now, we can't all fold our hands waiting for oil money to mobilize our people for work. The trick is quantitative easing, which basically means printing money. Government in theorem holds and infinite purse. The only bad side is inflation; the matching of quantitative easing and inflation is the work of CBN and the Finance Ministry. They should wake up and earn their pay.

Our present inflation is not in anyway caused by money supply. It's caused by exchange rate which is outside the money supply dynamics. I know very well that exchange rate are very speculative and within the control of a few banks which do not care for us. Let take our minds off what we can't control. Let not play a game we can't control, or compete with the referee in a football match. He will always rig the laws to his favour. That is our case with the international pricing of currencies. There are currencies that will always be high because their banks have a large control on the FX international market.

If Buhari has quickly printed a few coins and awarded some few contracts , since January, the Economy wouldn't have been in this shape. Also pricing and monitoring if the jobs is key; but this is normal requirement.

Squeezing an already squeezed population, in the name of tax, as they have always resorted to will not solve the problem. Only creativity will do. Following IMF prescription will cause more problem.

I sincerely doubt the present Finance Minister and Emefele's abilities. I know Nigerian banks only racket money. They don't think economy. Emefele couldn't have gained Economic experience from Bank. That is the truth. Kemi was never a thinking type. Her CV said it all for those that have eyes.

My Dad fought for Biafra against Hausa Fulani domination.

I wana fight for the fake of Blackman.

Bring your worst racist America. We will fight for our final liberation from Neocolonialism

ElCount:
I ve been asking the question "what will China be getting in return?"
Zombies hv failed to give an answer to this question, China is not running a charity organization and nigeria is not a country anyone can count on to manage that loan properly and China is smart enough to know this so its obvious that they have at least a backup plan which we don't know. China is trying to cement its place as a world power and tilt the balance to their favor if buhari has sold us out well... The consequences are better left imagined hopefully by then the country would hv divided and B14FR4 go dey their own away from this nonsense make una dey shout sai buhari una go follow am go 6 ft under if una no take time

China benefits by pushing their currency to the world. China and Russia want to stop Dollar from being the world major currency reserve. They also Benefits by displacing the West from the Businesses in Nigeria. They are in competition with Europe and America. That is why they are coming with better offers.

Also China don't have no colonial or Neo-colonial goals like Europe and America. China don't interfere in other countries political affairs like teh West who go about killing other people's leaders and manipulating elections in order to be incharge.

Na my Bros be this. We no dey come last

The Government will put in the infrastructure while the individuals build their houses.

The lands have already been allocated

ayoolanr:
How in the world do you raise interest rate when your economy is heading for or already in a recession? How did these people get their jobs for goodness sake? Pls someone pinch me, I must be dreaming! Chei, naija don suffer oh, is it that the IQ level in Nigeria is in the negative? Invest in manufacturing, spend money in road construction and infrastructure....the idea is to stimulate the economy not stunt it for goodness sake! These goons are looking for a solution that is not directly applicable to the problem! I am not an economst but I think this is common sense!

When idiots are in charge

[b]SaharaReporters has obtained a list of at least 91 people tied to influential or highly placed Nigerians who were recently offered juicy appointments by the Central Bank of Nigeria (CBN) in a hiring process that was highly secretive.

The list of beneficiaries of the CBN’s job largesse include a daughter of former Vice President Abubakar Atiku, a son of Mamman Daura, a nephew of President Muhammadu Buhari and one of the closest members of the president’s inner circle, a son of the Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, a daughter of former Speaker of the House of Representatives, Ghali Na’aba, also daughter of of the Inspector General of Police, Solomon Arase, a since of the Minister of Internal Affairs, Abdurahman Danbazzau and at least 86 others.

The highly controversial recruitment, seen as peddling of influence, first came to light a few weeks ago, but SaharaReporters just exclusively obtained the names of the beneficiaries.

The leaking of the irregular hires by the CBN caused significant embarrassment for the government and the bank. The CBN’s Director of Human Resources, Chizoba Mojekwu, was reportedly redeployed as the bank’s Director of Capacity Development and IT after CBN Governor, Godwin Emefiele, accused her of being behind the leaking of the list.

However, a top official of the CBN told our correspondent that Mr. Emefiele had arranged the hiring of relatives of top party leaders and powerful government officials as a strategy for saving his job.

Even though the list obtained by SaharaReporters has 91 names, our sources at the CBN disclosed that the CBN Governor had started the practice of using job offers to woo top government officials since Mr. Buhari came into power on May 29, 2015. One source revealed that, in September 2015, Mr. Emefiele had hired Claire Arase, a daughter of Nigeria’s Inspector General of Police, Solomon Arase.

SaharaReporters learnt that the CBN often went to great lengths, including tweaking the names of recruits, in order to hide the identities of beneficiaries of politically motivated recruitment. Often the CBN used the beneficiaries’ first names and their father’s middle names to hide their real identities. For instance, the bank listed Maryam Atiku as “Maryam Abubakar.” In another case, the bank entered the name of the son of Nigeria’s Minister of Interior, Abdulrahman Dambazau, as “Nagode Abdulrahman.” In other instances, the bank used the maiden names of hired persons instead of their married names.

The recruitments are deemed irregular because the CBN failed to advertise the vacancies in order to allow opportunities to all qualified Nigerians to apply for the jobs. In addition, the bank’s “political” recruitments did not follow principles of federal character set out for employment by government agencies and other public institutions. “Jobs were just handed to the children of ministers in the current administration,” one bank official stated. The source added that many of the new hires were asked to pick their department of choice after their irregular employment was concluded.

Below is the full list of 91 people illegally hired by the CBN[/b]

[url]http://saharareporters.com/2016/03/15/nigeria%E2%80%99s-central-bank-illegally-hired-sons-daughters-and-relatives-former-vp-atiku-igp[/url]

What a country.

We are in deep shit.

What is new that this woman has said different from the same old stories?

In her words, the solution is in fixing our infrastructure; what has the present government done in this regards?

I want to see the specific new changes that the government is driving in the Economy.

Same waiting for investors.

Rubbish copy cart