₦airaland Forum

I don't think danfo can be outrightly replaced in Lagos,danfo is like the face of Lagos anywhere,like an heritage in Lagos,whenever you see it,you'll automatically know this is Lagos,no matter where you are from!!

So we should now fry beans??

The Guardian

I have received a lot of questions about the Central Bank of Nigeria’s (CBN) foreign reserves recently. The CBN has of course been touting the reserves growing from a low of about $24bn to the approximately $42bn it is now.
The questions typically centre around why we are keeping so much in reserve when the economy is struggling, and we have poor infrastructure? Why don’t we use the reserves to reduce the poverty that is rampant? The question typically betrays a little bit of misunderstanding over what the foreign reserves are and how the entire thing works.

Hopefully, after reading this we will have a better understanding of what it is and what it can and can’t be used for.


First, what is the “Foreign Reserves?” It is the amount of foreign exchange that the central bank has at its disposal at any point in time. Some of this is in cash and some in other liquid assets, that is assets that can quickly be turned to cash.

Some of this is in US dollars but sometimes it’s in other currencies too. Some of this is physically in a vault at the CBN but most of it is managed by partner banks abroad.

How does the CBN get foreign reserves? By buying it of course, given that it cannot print foreign currency.

Central banks typically buy and sell foreign exchange sometimes as part of their mandate of price stability. In a scenario where a central bank buys more foreign exchange than it sells, then its reserves increase.

In a scenario where a central bank sells more foreign exchange than it buys then its reserves decrease. In the Nigerian scenario, the central bank typically buys foreign exchange from the federal government and sells to importers and travellers via banks.

Think about a simple example mechanically as the NNPC exporting crude oil on behalf of Nigeria, remitting the FX earned to the federal government who sells it to the CBN for naira. The CBN then takes that FX and sells on the FX market to BDCs, or banks, or importers, or whoever wants dollars.


If the CBN does not sell all the foreign exchange it buys from the federal government then its foreign reserves increase. If the CBN sells more foreign exchange than it bought from the federal government then its foreign reserves decrease because it must dip into its savings.

Of course, in the real world it is a lot more complex. Central banks are not the only ones who have foreign reserves in an economy. Banks also have foreign reserves and sometimes people too have foreign reserves. Think of the FX cash a bank has in its vaults and the small FX you hide under your mattress (note: I don’t).


All those are reserves but they do not count as part of the central bank’s foreign reserves. Also, in the real world, crude oil is not the only source of foreign exchange inflows.

Foreign investors who invest in Nigeria come with FX. Travellers who visit come with FX. Family members abroad send FX to Nigeria too. The mechanics with respect to the CBN foreign reserves are however the same. If FX inflows are more than outflows, then reserves increase. If outflows are more than inflows, then the reserves decrease.


A side effect of the CBN buying and selling FX is that it influences the exchange rate. If the CBN sells a lot more FX than is wanted, then the exchange rate goes down; and if the CBN sells a lot less FX, then the exchange rate goes up.

The change in foreign reserves therefore serves as a signal for what may happen to the exchange rate going forward. That’s why economists care about it.

So, why can’t the CBN give some of the reserves to the government to spend? Well, because it has already given the FG the naira equivalent. Imagine you took your $100 to the BDC to exchange for naira and then went back again to demand for the $100 back.

Of course, if you force the BDC to give you the $100, then the next time you, or other buyers, want to buy FX then there will be none to buy. And I’ll leave it up to you to determine what happens to the exchange rate if people want to buy FX but there is no FX to buy.

Central banks are typically advised to have enough reserves to cover six months’ worth of imports in the event something unexpected happens.

If the CBN blows those reserves for whatever reason, then the likely outcome is that people will get spooked and once the reserves disappear and the CBN can no longer meet FX demand, the currency will collapse. And, as we have learned over the last three years, currency problems, collapsing economies, and increasing poverty attend the same school.

Nonso Obikili is an economist currently roaming somewhere between Nigeria and South Africa. The opinions expressed in this article are the author’s and do not reflect the views of his employers.
Source:the guardian

So cute!!!

Now when men wake up early in the morning their phallus rises up ( ere-ction ) the way the sun rises up. we are the sun. women on the other hand have monthly cycles or what is called moon cycles. moon cycles are every 28 days. they are the moon. now moon represents darkness while the sun represents light. the sun has to overpower the darkness for their to be light. as a man ( the sun ),
You cannot get any darker than the moon so trying to compete with the moon in terms of darkness is a futile attempt. men who abandon the sun ( be the light of righteousness in your home ) and attempt to be the moon by dabbling in all kinds of wickedness always end up in bad and terrible relationships because like i said you cannot out-darken darkness and the only peace you can get as a man in darkness is if you satisfy all the dark desires of the woman.
You will notice that as a man in darkness you will be fighting constantly with your wife unless you can satisfy all her dark desires like you need to be extremely rich so she can indulge all her carnal fantasies of 10,000 pound watches, shoes, travels, jewellery, iphones, bentleys etc etc and sex-ual desires too.
It never stops. its like a pit of darkness that has to keep getting satisfied. if you cannot satisfy that darkness you will be the object of intense hate and anger. your home will be like the middle-east or boko haram territory lol. point being if you choose to be in darkness as a man, you have to be willing to fulfill all the dark desires of your woman because she is then superior to you in darkness and is more powerful than you.
You are in her territory now. she is the moon cycle being. a being that can only be tamed and calmed by the light of YAH. and YAH has made it this way so that every man has to carry his cross and be refined in affliction till he seeks righteousness. so fellas ? if you want a peaceful existence in any relationship with a woman ? seek the light OR seek for otedolas kind of money. those are your only 2 choices. well there is a third option which i wouldnt recommend which is turning to mike tyson in your own house

Hosea 4vs 6

MrBottle:
This pics cauesed me some headache hate viewing it. Would you mind not uploading it again, damn.

English pls!!!!!
What is cauesed

An Igbo Lady who resides in Ghana is claiming she saw The leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu disguising in Ghana.
She claims she saw him at Eddys Pizza in Ghana at about 8:45 pm, yesterday, 11 of December 2017… She says when she saw him, she spoke to him at first, but then he refused to respond to her, not until she spoke Igbo and he responded.

AlexCk:

You gave a fvck bro!! Opening the thread was a fvck you gave

AlexCk:

You gave a fvck bro!! Opening the thread was a fvck you gave

W

Nigerian bloggers and their lies!!

True story vs Nigerian bloggers version!!!
Dj xclusive arrested in the US!!

Lalasticlala mynd44

Thanks man!!good info

Nice lie @op,now well can be as deep as that around here,and if it eventually get to that depth,the man would have died before rescue team comes,cos there's no air at that depth!!

Lastly

More

And

Pls help move this to front page!!!! It might help someone out there.
cc:mynd44,lalasticlala

Samanza89:
First have an idea of what is a septic tank and a soak away!...

Septic tank are used to collect effluent and store wastewater and solid waste. A septic tank works on a pH balance and bacterial activity to break down the solid waste, and once the tank is full, it will overflow into a connected drain field, or often, a soakaway. The tank is self-contained and is placed underground, so offers an excellent alternative to main sewage pipes if your property isn’t connected to a main system. Because septic tanks can treat and dispose of household wastewater onsite, they are often a more economical choice than connecting to a centralised sewer system, especially in rural areas where properties are more widely spread


A soakaway is a system comprised of a hole dug in the ground and filled with rubble and coarse stones. This allows surface water that would otherwise begin to pool to soak back down into the earth. Often the soakaway is placed away from the flooding area and a pipe connects the area to the soakaway in the form of a gutter or drain. This system is useful for built-up areas that are constructed out of impermeable materials as it reduces the amount of pooling water that can lead to floods.


Which system is best for my property?
If you are looking for a natural and cost-effective way to dispose of solid and liquid waste from your home or business, a septic tank, and possibly a connected soakaway depending on the land on your property, is what you need.

If you are looking to divert pooling rainwater or surface water from flat or impervious surfaces, however, then a soakaway is the solution for you.

You need a crate of cold origin!!!!! That very right

mufutau55:
Direct water of bathroom and kitchen to the Soak-away, the bottom will not be plastered so the water can soak under ground.
Direct the actual poo from the toilet to the Septic Tank, bottom will be well plastered.
Make their respective size according to the empty space you have.

Hajji Mufutau

That is very wrong sir,all waste water is to pass tru the septic tank before its being passed to the soak away

Am not understanding anything

baylord101:
You expect the govt to come and clean the lodge for u? Madness of the highest order

A stipend donation will make the bathroom neatier and the wall be painted.

I remember back them in Umunneochi LGA (Abia) we tax ourselves monthly 2k for lodge maintenance and fueling of Gen because it was total blackout for over 10years they said.

Is it the innocent corpers that are suppose to renovate the lodge with the stipend they get or the government

If you are an asthma patient,pm me,av got a herbal remedy that cure it within weeks!!!

A friend of mine was posted to gunmi in Zamfara state to serve his father land,but what he met there was far beyond what he could bear.
Pls our government should find to do about it
Lala abeg help push this to front page
cc; lalasticlala,mynd44

When you like girl and she doesn't like you

STC. on lalastic lala's post!


























Abeg who have Nokia big mouth charger here??

Ok






























How much is one paint of garri now, shey e don reduce cos I hear say dollar don dey go down

durubrian:
Ehya...

Why did the girl disobey her madam sef...

There should be a punishment for her disobedience but this punishment was too much Abeg.

It like your sense is paining you!!!
Why you you say that kind of a thing?is she suppose to be denied access to education

sarrki:
That phones are called vertu
Almont 3million per one

Those fones are not vertu,they are nokia 6230

[quote author=lady2lady post=51675634]Hello from the other side !!
I've always noticed that most men always doze off immediately after sex.
Borehole alert!!!!!