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Politics / Re: Reuben Abati Asks Tinubu’s Sons To Stop Hanging Around Aso Rock by ivolt: 10:07pm On Mar 06
festacman:

One day after their father leaves office and his political influence wanes, they will look back and wished they had done things differently with opportunities his presidency presented.
The bold is never going to happen.
In the worst outcome, they retire to the US as multimillionaires in dollar.

3 Likes

Foreign Affairs / Re: Nikki Haley Drops Out Of 2024 US Presidential Election by ivolt: 10:00pm On Mar 06
CluelessMODS:

😆 Lol.....Do you live in the US? Is California a Republican State?
Don't blame him. There are lot of Twitter and Telegram groups where his
likes are brainwashed with facts.
Every American kid know that California is a no go area for republicans
let alone Trump that is detested over there.
But the OP didn't know because he just picked up bits from here and
there and then mash them together.

2 Likes

Foreign Affairs / Re: Nikki Haley Drops Out Of 2024 US Presidential Election by ivolt: 9:58pm On Mar 06
naijapips02:


He has absolutely zero chance. Trump is gaining new votes within the black and Latino population. Go and study now Trump won California by a wide Margin.
grin grin grin
Are you talking about the US or another country?
You mentioned Trump and placed California in the same sentence.

Please and please refrain from discussing US politics because you obviously
don't know how the country is politically structured.

1 Like

Business / Re: ‘How CBN Can Track $26bn Binance Transactions’ - Obinna Iwuno by ivolt: 9:43pm On Mar 06
The writer has been fooled. He thinks he can help CBN on a goose chase.

The $26 billion is a figment of Cardoso's imagination.
They needed a scapegoat for the falling Naira and they found
Binance a good spot because some group of idiots kept posting Binance's USDT
rates as the true exchange rate even though we know that USDT is not
dollar and you don't need dollar to buy USDT.

With the fact that Binance has been banned in several western and anti-Chinese
countries, the CBN latched on to it and label the platform the face of evil.

If the CBN believes that Binance determines Naira exchange rate, all it need do is
to push its own agents or make deal with some BDC to register on the platform and
manipulatively sell at the lower "true" rate so those quoting the rate will be forced to adapt or leave.
It could alsoe have secretly pressured Binance to remove or limit the activities of the "manipulators".
Binance did about a million dollar-Naira transactions per day. Imagine if the CBN opened its
own kiosk to generate $1 million USDT at the true rate, the "manipulators", would run out of business
or be forced to sell at the "true" rate.

But the government needed the theatrics, an external scapegoat that people can curse and attack for the bad economy.
It is all showmanship.

In few months, the whole Binance issue will not be mentioned anymore and it will be quietly retired.
We won't get any update about the $26 billion or the owners again after that.

96 Likes 13 Shares

Politics / Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by ivolt: 6:45am On Mar 05
NinjaMetahuman:
Why is Nigeria still doing the nonsense opec?


Nigeria is currently facing fx crisis and one organization is telling them they cant sell stuff that will fix the problem.
Sell 2 million barrel at $70 per barrel or sell 4 million barrel at $30.
The choice is yours.
Politics / Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by ivolt: 6:42am On Mar 05
Emu4life:
This OPEC caps doesn't make sense to me. How can Saudi Arabia, Iraq, Iran, UAE, Russia, Kuwait and others with small population have times 5 (or even more) of the Nigerian qouta despite our large population?

If we have sensible leaders, we should have exited OPEC and targeting 10m barrels production per day.
Honestly, this OPEC qouta shit doesn't make much sense.
Without OPEC, oil may sell for $20-$30 per barrel.
Good for the buyers but bad for the government.

And if it comes to every country producing their maximum,
Nigeria wouldn't even make top 20 and the so-called production
increase will be eaten away by production.
Yes, our oil is one of the most expensive to produce.
Crime / Re: Hungry Nigerians Raid Truck Carrying Food Items In Abuja (video) by ivolt: 8:59pm On Mar 04
UnfairLife7:
at least the presidency will lose out of office while military take over
Which presidency?
Are you sure you are a Nigerian?
Crime / Re: Hungry Nigerians Raid Truck Carrying Food Items In Abuja (video) by ivolt: 7:41pm On Mar 04
Adewale1603:
These people should start going in multitudes to those politicians and Minister's houses to raid and loot their food stuffs. There is power in population and multitudes, if they all invade there in large population, they will all run away for their dear lives from their own houses
And you think you will be safe after the mob is done with the politicians houses?
In a state of anarchy, the poor suffer the most.
Haiti is a live case point.

3 Likes

Business / Re: BUA Cement Records 27.4% Revenue Growth Of ₦‎460bn Despite N70bn FX Loss by ivolt: 7:52pm On Mar 02
israelmao:

Please would you make a list of those private companies that receive incentives like FG favourites BUA and Dangote?
I think you should make a list of billion dollars Nigerian private companies that do not get incentives.
Not incentives include tax rebates, tax holidays, tax for works, contractual preference or others.
In short any thing that would increase their productivity.
Neither Dangote nor BUA are favorites. What they enjoy is first to market advantage.
You are free to gather enough capital and enter the sector too.
Crime / Re: Police Parade Lawyer Over Alleged Abuse Of 10-Year-Old HouseHelp by ivolt: 11:18am On Mar 02
Creamypie:
Naturally, this thing dey women body. To treat other kids not birthed by them differently. Its only in specific cases, they treat em equally
There is a difference between abuse and treating other kids differently.
Even men treat their step kids differently let alone relative kids.
It is not peculiar to women.

1 Like

Politics / Re: NLC, TUC To Tinubu: We Are Not After Your Job, Fulfill Our Agreement by ivolt: 7:00am On Mar 02
Mynd44:
The problem with Labor is that they didn't stay neutral in the last election. It is difficult for a lot of people to believe they are not doing whatever they are doing for political reasons instead of the welfare of the people in the union. It is a weird place they put and have now found themselves

In almost all democratic countries, Labour unions support certain political parties
with socialist leanings e.g UK and US even with huge donations.

What we should concern about is whether the labour union has legitimate requests
given the current economic realities and not the party they supported.

2 Likes

Family / Re: Three Men Fight Over Baby In Ibadan by ivolt: 8:17pm On Mar 01
Why radio program instead of confirmatory test?
I guess DNA test is very expensive these days.

7 Likes

Business / Re: We Have No Intention Of Paying Fines To Nigerian Government - Binance by ivolt: 4:13pm On Mar 01

Asked for comments about Binance’s position, Mr Onanuga said his statement to the BBC was misrepresented in the media, noting that he never said the company had been informed or that the fine had been concluded by Nigerian regulators.
Chai Onanuga just deflated his supporters ego.

As for those who would cite the US fine on Binance founder.
Binance have a an actual US Business and the fine was arrived at through lengthy negotiations and not arbitrary statement.
Also, Binance founder was charged for a real crime after years of investigation which is
that he was encouraging money laundering by
letting Americans trade on the platform when it was illegal to do so.

In Nigeria, it is not illegal to trade on Binance. There is no law against it yet.
So, the only fine the government can impose is of encouraging money laundering.
The real fine will be very small compared to the rash $10 billion dollar.

For the government to get any fine at all, Binance will have to be convinced that it
would be allowed to continue operating after the fine.

As to the detained Binance executives, they are definitely not worth $10 billion.
Maybe $10 million dollars.

Unlike the US with global financial reach, Nigeria cannot sanction Binance outside of Nigeria.

51 Likes 4 Shares

Politics / Re: War-Torn Ukraine Donates Grains To FG As Nigerians Battle Severe Hunger by ivolt: 4:08pm On Mar 01
hmm
Business / Re: FOREX Crisis: FG Slams $10 Billion Fine On Binance by ivolt: 4:07pm On Mar 01
ozo13:
na only Nigeria dey take nonsense oooo without any regulation.Am sure what Binance did to naira free fall if it were to be US they will pay a huge huge damage fee
Binance fine in the US has nothing to do with the US economy.
It is because it allowed Americans to trade even when it was illegal to do so.

Binance did not and cannot do anything to any economy outside of what the government encourages.

1 Like

Celebrities / Re: Hardship: KWAM 1 Cancels 67th Birthday Celebration by ivolt: 4:04pm On Mar 01
He should have received donations for his birthday and then distribute it to the needy.
Some people only donate to the rich!
Business / Re: BUA Cement Records 27.4% Revenue Growth Of ₦‎460bn Despite N70bn FX Loss by ivolt: 3:55pm On Mar 01
israelmao:


If a secondary school boy got the kind of incentives BUA and Dangote are getting from FG he will succeed with ease.
Ask yourself why the government will give incentive to a secondary school boy who isn't proven to
be able to manage a small kiosk successfully?

All big Nigerian companies get government incentives because they already prove that they know
what they are doing since they started with private investors.
Business / Re: BUA Cement Records 27.4% Revenue Growth Of ₦‎460bn Despite N70bn FX Loss by ivolt: 3:52pm On Mar 01
OlujobaSamuel:

rebagging cement, nothing wey una conspiracy no dey come up with, you think sey na pre 2006?? Or na rice??
No one distributor rebags cement, the price difference at any point in time has never been more than 200 btw different products, who has time to transport from factory A to a location so you can rebag to another product then transfer to the final destination, no one has such time.
No financial benefit, no cost savings
Don't mid him.
He is one of those who thinks BUA cement is #3500 while Dangote is 10K

1 Like

Business / Re: BUA Cement Records 27.4% Revenue Growth Of ₦‎460bn Despite N70bn FX Loss by ivolt: 3:51pm On Mar 01
ibrocool:
As expected, the demand for BUA cement increases due to the reasonable price. But the sad reality is the retailers are busy re-bagging to Dangote cement and selling at high price. That is why it looks as if BUA cement does not exist in this country.
Nobody is rebagging BUA.
Go and price BUA cement to clear your doubt.
It is not 3,500 as claimed in some media.
Politics / Re: How Jonathan Handed Nigeria's Sovereign Wealth Fund To Tony Blair, JP Morgan by ivolt: 3:49pm On Mar 01
Financial iliterates everywhere.
It is called investing not handing over and Blair was merely a facilitator.
I can't see anywhere in the article where the funds went missing or depleted.
Business / Re: FOREX Crisis: FG Slams $10 Billion Fine On Binance by ivolt: 3:41pm On Mar 01
Ibrahimcoomasie:

1. Yes they would be allowed after stringent policies are put in place by the binance.
Binance will never trade Nigeria P2P again.
Given that fact, it will not pay the fine as it has no Nigerian asset that the government can seize.



2. No. The financial regulatory organization of your country does not need a court ruling to slam fines on financial institutions. Fines are regularly slammed on Nigerian banks.
You are correct.
But this is like fining a company 200% of all the business it ever did in a country.
The fine will never materialize, maybe a small fraction of it.

As to the detained Binance executives, I am not sure they are worth even $100 million dollars to Binance.
Politics / Re: FG Pays $120m From Gas Debts As Blackout Spreads by ivolt: 10:03am On Mar 01
Offpoint1:
I don't understand this gas debt, where does the electricity bills we paid monthly goes to?
You currently pay less than 40% of the actual cost of electricity.

2 Likes

Food / Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivolt: 10:35pm On Feb 29
Ulogwe1:

But are you aware, some persons with old stocks just hike their price to the current price.
Yes, that is what many shops do.

1 Like

Food / Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivolt: 8:43pm On Feb 29
To all those attacking retailers.
Some of you have the means to setup a retail store too.
Just do it and sell at 30-50% lower price.
Your customers will thank you.

2 Likes 1 Share

Food / Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivolt: 8:42pm On Feb 29
Ulogwe1:
Yes, the thing is not as bad as we think.

Imagine, my wife went to the market today. About to buy GOLDEN MORN, the first retailer told her the role is 1800 naira but she was wise enough to go the next retailer shop and lo and behold the second retailer sold it 1,600 naira.

You can see they are hiking price of commodities all in the name of dollars and the Government.

AT A TIME LIKE THIS, WE ARE THR ENEMY OF OURSELVES.
The second shop still has old stocks and didn't update the price.
When the owner go for a restock, they would adjust to the new price.
Food / Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivolt: 8:38pm On Feb 29
Emu4life:
Contrary to popular belief, things especially food are actually cheaper in SuperMarkets (Retail Stores) than traditional open Market traders.
Maybe a popular belief in Nigeria.
Elsewhere chainstores are known to offer cheaper foods.
That is how Walmart killed off most small scale grocery stores with low prices.

2 Likes

Food / Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivolt: 8:36pm On Feb 29
Offpoint1:
They are. Once they heard price of dollar has increased, these folks will automatically increase the prices of items. I keep wondering if Naira is Nigeria currency or dollar.

The one I can't fathom till date is garri. No part of garri processing involves dollar, but the price keeps skyrocketing.

When I entered Lagos 2018, a paint rubber of garri was sold N400. How it becomes N2500 today I don't understand.
How about transport and cost of living of the garri producer?
Stop sidestepping the main issue.
Fuel price was increased 3 times and you expect price of goods to remain the same.
Career / Re: Tax Experts, How Much Is He Supposed To Receive At The End Of The Month? by ivolt: 5:48pm On Feb 29
DenreleDave:
Omo 150k for this economy no fit do anytin oooo.

How your friend dey take cope sef undecided undecided undecided


He should get notin like that 135k after all deduction. Just guessing though undecided undecided
So you don' t know that the minimum wage is 30K?
Business / Re: NIN-Bank Linkage: 85.51 Million Bank Customers Risk Account Suspension by ivolt: 5:47pm On Feb 29
Common CBN.
This isn't enough.
You can do more than this.
Also request that we link our INEC id card number, passport number and Birth certificate numbers.

Bunch of idiots.

2 Likes 1 Share

Business / Re: Richest Royal Family Of Saudi Is Worth 4 Times More Than Musk, Gates Combined by ivolt: 5:29pm On Feb 29
WeddingParol:
That is a national wealth and not individual hustle
In Saudi and other gulf kingdoms context, there is no difference.
Politics / Re: No Going Back On Demand For N1m Minimum Wage – Ogun NLC by ivolt: 10:26pm On Feb 28
1 million grin grin grin
You will be lucky to get 50K.
Left to Tinubu, the 30K is even too much of a drain on the government.
Business / Re: 1 USD = #1,480. Naira Keeps Fighting Back In Hard Way. by ivolt: 9:55pm On Feb 28
Richtaiwo:

E pain am
You are an economy saboteur for quoting Remitano price.
USDT is now illegal to be traded against the Naira and you can be jailed if discovered.

USDT is not dollar!

1 Like

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