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IleIfe2's Posts

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Health / Re: What Is The English Name Of Jedi-jedi by IleIfe2(m): 7:27am On Mar 09, 2016
HungerBAD:


Pile Haemorrhoids.

thanks
Health / Re: What Is The English Name Of Jedi-jedi by IleIfe2(m): 7:27am On Mar 09, 2016
mankan2k7:
Eating bottom eating bottom

grin grin
Health / What Is The English Name Of Jedi-jedi by IleIfe2(m): 5:58am On Mar 09, 2016
Please what do english speakers call the ailment known as Jedi-Jedi. You know when the lower back hurts as a result of eating too much sugar.
Business / Re: Someone Please Explain The Economics Behind All These Anti Spending CBN Rules by IleIfe2(m): 7:50am On Jan 13, 2016
Bevista:
As you probably know already, oil accounts for over 90% of Nigeria's FX earnings. This means that when oil price declines, FX receipts into the country's Reserves will also decline.
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The CBN uses the FX from the Reserves to auction to importers of essential items like fuel, critical raw materials, etc. They also use the FX in the reserves to clear international payments, whether they are LCs by other large importers or your offshore ATM withdrawals or online/POS purchases.
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As you are also already aware, Nigeria is an import dependent country. Currently, due to declining oil prices, demand for FX by importers (+ MasterCard/VisaCard purchases and withdrawals) is higher than FX receipts into the CBN Reserves. If the CBN continues to meet this demand at its current level, then the Apex Bank will soon run out of Reserves.
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Once the country runs out of Reserves, there will be cataclysmic consequences. We'll need to borrow FDRs from the IMF with all the attendant conditions. Also, international banks and merchants like Amazon, Ebay, etc will effectively unplug Nigeria from the international payment system.
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The CBN has chosen to eliminate certain import items from accessing the FX Reserves. They have also restricted the use of MasterCard/VisaCard for POS/online payments as well as international ATM withdrawals. All these are to protect the Reserves so that essential items like fuel, arms, critical raw materials, etc can still be imported into the country.
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Also, by pushing everyone else to the parallel market, the rate in the parallel market might go over N300/$1. This should make imports expensive, thereby forcing foreign/Nigerian business men to consider setting up local production facilities instead.
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The mess we are in is not caused by CBN. The Bank is merely trying to prevent a bad situation from getting worse. The blame should go to previous governments for not saving enough in our FX Reserves during the Oil boom and for not diversifying the economy to make us less import dependent.
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That's already too long. I'll be glad to respond to you again if you have further questions.

thank you very much.
Business / Re: Someone Please Explain The Economics Behind All These Anti Spending CBN Rules by IleIfe2(m): 1:39pm On Jan 12, 2016
menix:
If am to use a theory in Economics, it's called Maslow Theory of Uwa Mmebi..

Maslow stated that during the Era of End Time many unfavorable policies will be introduced the suffer the common man into accepting the MARK..

grin grin grin Seriously i need more explanation for fellow students here. They are tired of my low oil price/revenue explanation.

1 Like

Business / Someone Please Explain The Economics Behind All These Anti Spending CBN Rules by IleIfe2(m): 12:29pm On Jan 12, 2016
Please anyone/all the economist/business administrators on NL.

What is economics/rationale/objective behind rationing of forex, withdrawal limits for Naira mastercard, ATM withdrawal limits and other anti spending CBN policy.
Travel / Re: Nigerians Protesting Right Now In Malaysia by IleIfe2(m): 3:51pm On Oct 26, 2015
Malaysian police wear blue uniform and malaysian developers don't design their apartments like we see in the OP's picture. Those are slumdog millionaires from the ->

1 Like

Celebrities / Re: Nigel Sog, Nigerian Male Model Set To Dethrone Denrele (Photos) by IleIfe2(m): 1:05pm On Oct 12, 2015
kill before it lays eggs.

1 Like

Politics / Re: Yoruba Youth Accuses Buhari Of Witch-hunting by IleIfe2(m): 4:06pm On Sep 21, 2015
Awon omo ale, ako tile fun ole. yeye youths
Politics / Re: Governor Ahmed Of Kwara Receives Surprise Visit From His Daughters At Work.photo by IleIfe2(m): 4:50pm On Jun 11, 2015
This gut never do anything for Kwara o. Useless fellow.
Politics / Re: Bukola Saraki: Don’t Witch Hunt N/assembly Clerk, PDP Warns APC by IleIfe2(m): 4:49pm On Jun 11, 2015
PDP is taking credit for usurping the senate leadership from APC, yet some myopic people claim APC as the majority and ruling party has no right to organize itself, create structure and orderliness ("impose candidate") in the legislature.

This is the kind of environment in which PDP and their supporters thrive, a Zoo "The person with the most gra-gra takes it all".

When the opportunity arises, Saraki, Dogara and every treacherous vile creature in the national assembly should be mercilessly dealt with.

1 Like

Politics / Re: The Untold Story Of PDP’s Coup Behind Saraki’s Senate Presidency - The Nation by IleIfe2(m): 4:49pm On Jun 11, 2015
PDP is taking credit for usurping the senate leadership from APC, yet some myopic people claim APC as the majority and ruling party has no right to organize itself, create structure and orderliness ("impose candidate") in the legislature.

This is the kind of environment in which PDP and their supporters thrive, a Zoo "The person with the most gra-gra takes it all".

When the opportunity arises, Saraki, Dogara and every treacherous vile creature in the national assembly should be mercilessly dealt with.
Sports / Re: Nigeria Vs Germany: U20 World Cup (0 - 1) On 11th June 2015 by IleIfe2(m): 10:05am On Jun 11, 2015
Coach Garuba!!!! Use your subs na!!

1 Like

Sports / Re: Nigeria Vs Germany: U20 World Cup (0 - 1) On 11th June 2015 by IleIfe2(m): 9:54am On Jun 11, 2015
Tell that goalkeeper to stand up jor!!
Sports / Re: Nigeria Vs Germany: U20 World Cup (0 - 1) On 11th June 2015 by IleIfe2(m): 9:18am On Jun 11, 2015
Feels like germany has 15 players while we have 11.

1 Like

Sports / Re: Nigeria Vs Germany: U20 World Cup (0 - 1) On 11th June 2015 by IleIfe2(m): 8:58am On Jun 11, 2015
Nigeria's goalkeeper is way below average.
Celebrities / Re: Bimbo Thomas' New Boyfriend Opens N35million Wine Store For Her In Ikeja Lagos by IleIfe2(m): 2:45pm On May 13, 2015
Keneking:
Ok---only a politician would spend this.

1. Rental of shop = N2,000,000 per annum X 2 years = N4mil
2. Stock (wines etc) = N5,000,000
3. Fit-out of shop (tiles, lightnings etc, lounge) = N2,000,000
4. Signage = N200,000
5. Security = N200,000
6. Genset (15KVA) - N2,000,000
7. Delivery - outsourced
8. MD/CEO Utility car - N5,000,000

Total = N20mil plus

Where is the N15mil difference coming from undecided
This Jonathan government sef grin

Hmmmm Awon aye!!! Dey don help her calculate am.
Politics / Re: Getting Rid Of Tinubu Remains The Number 1 Challenge For Buhari Administration by IleIfe2(m): 7:19am On May 01, 2015
LajaLaba:
Ibos and Tìnubu grin u people will just die of heart attack cry useless people

The same smear campaign was launched against OBJ immediately after the 2011 election.

1 Like

Crime / Re: Know The 9 Indonesia Prison Inmates To Be Executed At Midnight Today by IleIfe2(m): 10:00am On Apr 28, 2015
Justcash:
Raheem Agbaje Salami, 50, Nigeria:


Salami was caught smuggling 5.3 kilograms of heroin into Indonesia in 1998.

Salami, who initially was wrongly said to have come from Spain, spent five years believing that he would one day be released.

He had been sentenced, in 1999, to a life term by the Surabaya District Court in East Java for bringing the stash of heroin through Surabaya airport.

In 2006, however, the Supreme Court upgraded his sentence to death.

The picture is Malaysia. The guy was sentenced in Malaysia. That's the Malaysian police uniform.

www.nairaland.com/attachments/2354611_image_jpeg9f360c5ab7736510df54c882e9dbf188
Politics / Re: Disclaimer: Here Is The Real Authentic Photo Of Baifran Soldiers During The War by IleIfe2(m): 1:52pm On Apr 27, 2015
Politics / Re: The Fulani "Xenophobic" Attacks In Nigeria: Is Noblezone Really Mischievous? by IleIfe2(m): 6:03am On Apr 27, 2015
xenophobic or terrorism.

imagine that 1diot buying 8 SUV for someone that does not need it instead of him arming his youths to defend their villages.

its not xenophobia, it's terrorism and only the villages can trace them into the jungle and neutralize them.
Politics / Re: Buhari Relocates To Defence House In Maitama, Abuja by IleIfe2(m): 6:19am On Apr 24, 2015
Mogidi:
Good to know he takes his personal security and welfare seriously.
Watch your back I say, beware of Tea prepared by Tinubu or Osinbanjo.

Sai baba

Ozigbondu:
IBB coup has taught him a very important lessons-beware of those surrounding you pretending to be friendly or in this case tinubu and his fellow broom waving agents

You cretins have started your campaign against Tinubu too now like you did against OBJ. monkey no work, make flat head baboon come chop am again. grin grin grin

1 Like

Politics / Re: Drug Kingpin Behind “orange Is The New Black” Has Won A Nigerian Senate Seat by IleIfe2(m): 7:22am On Apr 17, 2015
[size=3pt]Testing[/size]
Politics / Re: Igbos Want FCT Ministerial Slot by IleIfe2(m): 2:33pm On Apr 15, 2015
Nigeria is not a nation of Immigrants, respect yourselves please. Enough of the nauseating demands, ultimatums and declarations. Sell your wares and go back to wherever the F%^K you come from.

4 Likes

Celebrities / Re: Adewale Ayuba Honours Igbo Wife, Says His Marriage Is Peaceful by IleIfe2(m): 12:14pm On Apr 15, 2015
mmsen:


I don't watch many movies, least of all South African movies - is that all South African movies or just one particular film? And was it made by a South African or a Nigerian looking to perpetuate silly stereotypes? That is what entertainment largely does, feed nonsense to the consumer.

My point still stands - ask the average South African, Malaysian, Brit, American or Australian to pick out the Yoruba or an Igbo man and he won't be able to. Nor would they care - they would simply see another African. Most cannot differentiate between someone from the Gambia from someone from Kenya or Nigeria but you reason that[b] they can tell the difference between a Yoruba speaking person and an Igbo speaking person?[/b]


Believe me in all these countries they do now, within the law enforcement and judicial community.
Celebrities / Re: Adewale Ayuba Honours Igbo Wife, Says His Marriage Is Peaceful by IleIfe2(m): 12:01pm On Apr 15, 2015
mmsen:


The people in those countries don't even know the difference between Africans from different nations and regions but you want to clam that they know the difference between Nigerians where the only difference is linguistic?

Those people don't care, nor should they.

Watch South African movies, when Nigeria is featured in a story line. it's either a ruthless drug dealer who is a from a "special tribe of israel, his people were murdered during a war, he has a thick accent and wears a red beret". The other type of Nigerian featured in their movies is "business from Lagos that shuttles both S.A and Lagos.

And the Thai, Malaysian, Chinese law enforcement will ask straight up. "Which part of Nigeria are you from?"

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