₦airaland Forum

Electroweb:
I suspect there is so much dollars in the system. Speculators are having their fingers burnt. Now they want to offload their dollars. The sooner they offload it the better because this exchange rate is heading to N240 per dollar before third quarter of the year 2017. My projections...

Amen to this your projection

It's now N400 but God willing tomorrow it be less

Electroweb:
I suspect there is so much dollars in the system. Speculators are having their fingers burnt. Now they want to offload their dollars. The sooner they offload it the better because this exchange rate is heading to N240 per dollar before third quarter of the year 2017. My projections...

Amen to this your projection

linearity:
All your points are valid and that is how government works, why I am of the opinion that it is not sustainable is that, the government is allocating almost 100% of future foreign reserve increases that are converted to Naira to forex sector of the economy.

Whereas foreign investors, debtors, real Naira value, etc is determined partly by the size of the Country's reserve. Bigger reserves attracts better credit ratings, trusts and reduces loan servicing fees and gives foreign investors more confidence,etc.

There are better areas to put this money in the Nigeria economy that benefit the massses.

Good reasons you have there but I believe is sustainable by may be doing 50/50 between reserve and expenditure, for instance at $50 per barrel barrel 2 million daily output Nigeria make about $100m daily let's assume 40% goes to the JVs,Nigeria will be left with $60m daily, if this $60m will be shared between reserve and expenditure on 50-50 basis that mean we get $30m daily for each that mean we can afford to inject atleast $200m weekly

As long as there is peace in the Niger Delta and price is at least above $50 per barrel this CBN policy is sustainable unless there is no political will.

Cheers

linearity:
This is throwing good money after bad one. It is a bad move that only produces short lived "reliefs" because it is unsustainable, we do not earned enough Forex to sustain this Christmas give away.

Let's look at some hard numbers; from the above, it stated that CBN have provided about $1.5b since February and added another $180m on Monday.

In Dec, 2016; Nigeria Forex reserved was $25.72b, it increase to $27.88b in Jan, 2017; a difference of $2.16b...and to $29.61 in February, a difference of $1.7b.

Ask yourself a question, for how many months can the government keep pumping about $1.5b into the forex market, an amount equal to our monthly gain in foreign reserve?

These Naira "gains" are artificial and on steroids, we do not have the infrastructure and GDP to sustain the continual liquidity pump into the forex market, tops give CBN 6 months and they will do about face and give up.

Nigeria earns in dollars and the government need to spend as well not everything earned will be saved in the reserves, some will be in the reserve some will be used to run the nation, and locally we use naira not dollars as such those dollar earned must be changed by the CBN to those that needs it to naira so that the government can pay salaries and contractors. So the government must sell dollars as long as we earn in dollars

The senate should just amend the customs law by

1, making it mandatory for CGs to wear uniform

2, CGs must be confimed by the senate since they are also a revenue generating body like the firs, whose chairman must be conformed by the senate.

OP, your claims are true and false at the same time, yes Dino ppfailed some courses but passed them at the third semester window, but Dino did not spend 8 years in Abu he actually spent 6 years and everyone that went to ABU between 1993- 99 had an extra year due to the kontagora regime if you check very well Dino matric is 93/****, in 1995 ASUU made all Nigerian universities lose a session this make all ABU student to lose 2 years extra.

Dino did not get a pass degree but a 3rd class

His parent look good

For those who don't know Boko Haram was incubated in this indimi mosque on Damboa road Maiduguri.

And please the indimis should tell us the relationship between jeb bush, indimi, and CIA

osundu:
believe it.there was third semester in ABU and de Senator intentional failed to stay for SUG election but was given waiver to graduate.Guy u need to see dino in school then.he was controversial,cunny and can move the students at anytime.We passed out in 2002 together.

my guy I don't want to blow my cover on nairaland but Dino is my friend and I can definitely tell you he served in 2000 at Kaduna camp, though it was common then for people with carryover to serve

chloride6:
i laugh when people put their money in the NSE. Even in more transparent US and Europe, we hear stories of fraud such as Insider Trading etc.

Have you ever heard such about country even with the level of corruption in this country.

If you want to invest in stock and options, consider NGN bonds and some foreign ETF on the NSE.

even the bond itself is risk, how sure are we the government or the country exist when the bond matures especially in a tensed divided country like ours, just do commodities and real estate atleast they are tangible not some worthless paper written by a fraudster masquerading as a broker or registrar, bro I lost almost N15M all in bank stock from 2008-2009

Osu175:
A.B.U no be beans let alone in the 90s.

Sha i heard Deno was in school till 2002 because he never wanted leaving NASS and that was went he cleared his carry over

don't believe, Dino served 2000 and yes is possible he had carry overs but there was a window then called third semester where those with carryover clear them

So because he had a carryover does that mean he did not graduate, what if he wrote it later and passed. There was some called third semester then where opportunity is given to rewrite your failed courses.

Everyone knows Dino in ABU in our days so this SR report is rubbish.

seunmsg:
So there is absolutely nothing left for the original owners of bankPHB to salvage? This is very sad and unfair. Lots of people invested their life savings in the shares of the old bankPHB, Amcon and CBN should have worked out a model for them not to lose everything.

In as much as it is good to protect the interest of depositors, protecting the interest of owners and investors should also be a priority. Personally, I will never invest in any bank again.

well said bro, I had 500k, units of bankphb share that is useless and we have lost everything now, the sad part of this sale deal is most of the management of sold bank put their interest in the sales, for example, John Aboh the MD that sold oceanic bank to ETI is now th chairman of ecobank clearly that was the deal at the sale of Oceanic bank.

I did not just lose interest in banking stocks but the entire Nigerian stock market because I realize that is another ponzi scheme backed by law. I only invest in physical business eg, real estate and commodities now

So how did he serve, cos he did NYSC in kaduna, probably presented fake result then

mbuaba:
pls any one with latest working PV keys for TLC &animal planet HD 66 e pls assist

I guess you are not in Nigeria cos this channels are not receivable here unless those with 3M and above, is your decorder not autoroll?

Use to see him in maid, people tip him actually

spartacus11:
yeah technically you're correct because its still cheaper
but if you put everything into perspective it is almost the same cost, you may not be spending less

my brother it's way higher, with just one months subscription of 15k I can set up powervu, or qsat. And you know this things last for almost a year or over before being busted , we are now patiently waiting for next kurukere, while paying subscription on small bouquets

Why not the president nominate another person, must it be Magu only.

Honestly I blame the president, because the civil war happening among his appointees clearly shows he did not manage it well though from history Buhari is not good in conflict management, do you remember the various crises that rocked CPC.

Why did the president not send Magu's name immediately he appointed him as ag chairman but waited until he did t dirty work and step on toes, my advice to the president to send name of anyone he appoints to the national assembly as soon as such appointment are made not all this procrastination, though we are all getting used slow nature of PMB, can you imagine a year after the death of Ocholi h still has not sent replacement from Kogi state thereby shortchanging Kogi people.

spartacus11:
FTA is no longer FTA, the Chinese are now making mockery of it, for them to keep selling different product, when will you wake up, from Mpeg2 they told us its now Mpeg4 from that they said Its patch, upgrade after that they said it's HD, biss key, power vu, auto scroll, from 60cm it went to 80-90cm dish migrated to 1 - 2.4m dish, if not that it will be one LNB to the other, abah foul when they lay egg yash dey pain am oh

or should we even talk of how qsat came to be, or na liberty or AZ zky, my brother abeg he done long when the spirit of FTA have be brutalize they have exploit us a lot

just wait in few weeks maybe months new level go come out for FTA then dish size will change you will be made to buy another decoder or a specified LNB, na here we dey

well like its said ENJOY WHY IT LAST

better than paying about 15k monthly, atleast most IKS etc last for 1 year, for me am waiting for next kurukere wey chinko go bring and I want to be an early bird. LOL

Eruditor:
Read a book or something. Customs collected 8M for the car that was fronted to get the papers. Only for Saraki to use the same paper(S) for a car he bought for 298M Naira.

I get it now

Eruditor:
Read a book or something. Customs collected 8M for the car that was fronted to get the papers. Only for Saraki to use the same paper(S) for a car he bought for 298M Naira.

I get it but how did they get the value of the car to be 298M when they said the car is 2014 model and at the time of import dollar was 155. And bought for $145k

The pertinent question is why did the custom collect the amount of 8million if it is not what he is suppose to pay

The senate should just amend the custom law, Buhari cannot do anything about it, instead of us to have strong institution w are making strong men

For the 6 weeks osinbajo led this country we only witnessed flawless movement and positive news about Nigeria but since Buhari returned all we hear are controversies.

Good news, pessimist and prophets of doom will not like this news. Nigeria will be great again

Must it only be Magu that will be efcc chairman, what if he dies now, will they close efcc down.

Magu is a policeman on secondment to efcc why won they appoint an efcc staff as the chairman

Yes, he must wear the uniform or he resigns there is no law that said former military men should not were other uniforms apart from their ego

No wonder he only got retired as a colonel with this attitude, the only thing that is makin him be so stubborn is his closeness to PMB ca you imagine this man refuses , respect his supervising minister.

I colonel is equivalent of level 14 civil servant not even up to assistant directors but he is so pompous

klax:
And to you your brain is working with the pooh you wrote above I guess you have no car and I guess none in your family own or drive one because you could have know there is no where in the world where policy is made and was back dared. I know you must be from the North go school you will not go but to go and study Arabic that is why you reason like pooh. Get life!!! Ok.

You clearly did not read what I wrote or didnt understand it, as regards your insults all I will say is "when you go low I go high"

Let me advice you, you are a businessman or in some sort of selling here on nairaland, with this attitude one can easily conclude on you perhaps wrongly, always engage people if they go wrong constructively and quit vulgar and abusive words as it will paint you bad.

Cheers

dayleke:
Is this man not doing a good job?

Why is he hated/disliked so much?

Is he stepping on powerful toes in the execution of his duties?

Only in Naija sha....

his biggest crime is asking every car owner to pay duty again or verify if the duty is genuine, people saw this as transferring aggression on his men past inefficiency to them as no car is registered without duty papers and are mostly from same custom, the only way he will redeem his image is allow all registered cars to be while insisting all new registration must carry genuine custom papers, this should be done in conjunction with vehicle registration authorities like VIO and frsc

Am impressed, this is what you get from the knowledgeable person, clearly Buhari has the charisma and love of th people because of his anticorruption stand, but sadly he lacks the capacity to lead, this is a fact as evidenced by recent civil war among his kitchen cabinet members.

All the things elrufai said are true and if implemented we will get out of our doldrums but honestly Buhari cannot do it as I doubt if he even understands some of the things elrufai emphasised on . Imagine this letter was written to Buhari since September last year but 7 months after nothing has been done, this tells you Buhari lacks the intellectual capacity to take us to promise land.

Buharis anti corruption stance is very commendable but that is only one of many things needed to prosper

By the way I was a Buharist but am very disappointed. Kudos Nasir El-Rufai

Social media can really exaggerate things, the money was actually not dirty money, a business man needed mint money in Lagos and there is non at CBN Lagos so he got it in abuja, he sent N50M but CBN guys pocketed N1M as their commission and gave him N49M in 200 and 50 naira mint notes

The money was taken by the mans boy to kaduna since abuja airport is closed to be airlifted to Lagos then the money was seen and immigration then they called efcc out of the urge to claim glory they quickly spread the news on social media, only for the efcc boys to later get confirmation that it was genuine transaction they allowed the money to leave to Lagos that very day, if you know anyone in kaduna airport ask this is what happened.

By the way why would a crook take dirty money via airport and in small note like 50 naira notes? , when he can easily buy dollar and just put it in his pocket or at worse take it in 1000 notes, obviously someone want to use the money to shine but there is no cause for alarm, the N49M is clean and currently with the owner

Kwankwasiyya Amana

If Baba buhari is not contesting 2019 our candidate is none other than rabiu musa kwankwaso

Remember if not because of SW bloc vote for Buhari at the last APC presidential primaries kwankwaso would have taken the day, the only person than can stop him in the north is Buhari, and baba is old and sick so very unlikely to contest again so kwankwaso has a good chance, unless the powers that be in APC manipulate the election.

The PDP should also pouch on kawankwaso because he is one man that has the crowd and political ruggedness to bring them back to life the PDP, age is on his side as he is only 60 and well educated

So she is confirming stephanie was suleimans girlfriend

What an apostle