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Politics › Re: What Is The Fate Of Those Sacked Bankers Who Voted Against GEJ? by jaybee3(m): 5:50am On Sep 15, 2015

So few thousands lost jobs and their respective families thrown into high degrees of bother as a direct result of the TSA policy.

We agree that it's one of the disadvantages of introducing such policy in tough economic climate but what about the advantages:

Millions more will hopefully feel the effect of good governance as well as provision of basic infrastructure due to the obvious resultant effect of closing avenues that govt departments have been using to siphon money.

It will force the banks to reduce their dependency of govt departments deposits and in turn ensure they become innovative on their business models which will hopefully strenghtne their ethics and best practices.

Excerpts from IMF paper => https://www.imf.org/external/pubs/ft/wp/2010/wp10143.pdf
"
The primary objective of a TSA is to ensure effective aggregate control over government cash balances. The consolidation of cash resources through a TSA arrangement facilitates government cash management by minimizing borrowing costs.5 In the absence of a TSA, idle balances are maintained in several bank accounts.6 Effective aggregate control of cash is also a key element in monetary and budget management.

There are other objectives for setting up a TSA. They include: minimizing transaction costs during budget execution, notably by controlling the delay in the remittance of government revenues (both tax and nontax) by collecting banks, and making rapid payments of government expenses; facilitating reconciliation between banking and accounting data; efficient control and monitoring of funds allocated to various government agencies; and facilitating better coordination with the monetary policy implementation.
The benefits of a TSA flow from its objectives:

Allows complete and timely information on government cash resources. In countries with advanced payment and settlement systems and an Integrated Financial Management Information System (IFMIS) with adequate interfaces with the banking system, this information will be available in real time. As a minimum, complete updated balances should be available daily.

Improves appropriation control. The TSA ensures that the MoF has full control over budget allocations, and strengthens the authority of the budget appropriation. When separate bank accounts are maintained, the result is often a fragmented system, where funds provided for budgetary appropriations are augmented by additional cash resources that become available through various creative, often extrabudgetary, measures.

Improves operational control during budget execution. When the treasury has full information about cash resources, it can plan and implement budget execution in an efficient, transparent, and reliable manner. The existence of uncertainty regarding whether the treasury will have sufficient funds to finance programmed expenditures may lead to sub-optimal behavior by budget entities, such as exaggerating their estimates for cash needs or channeling expenditures through off-budget arrangements.

Enables efficient cash management. A TSA facilitates regular monitoring of government cash balances. It also enables higher quality cash outturn analysis to be undertaken (e.g., identifying causal factors of variances and distinguishing causal factors from random variations in cash balances).

Reduces bank fees and transaction costs. Reducing the number of bank accounts results in lower administrative cost for the government for maintaining these accounts, including the cost associated with bank reconciliation, and reduced banking fees.

Facilitates efficient payment mechanisms. A TSA ensures that there is no ambiguity regarding the volume or the location of the government funds, and makes it possible to monitor payment mechanisms precisely. It can result in substantially lower transaction costs because of economies of scale in processing payments. The establishment of a TSA is usually combined with elimination of the “float” in the banking and the payment systems, and the introduction of transparent fee and penalty structures for payment services. Many governments have achieved substantial reductions in their real cost of banking services by introducing a TSA.

Improves bank reconciliation and quality of fiscal data. A TSA allows for effective reconciliation between the government accounting systems and cash flow statements from the banking system. This reduces the risk of errors in reconciliation processes, and improves the timeliness and quality of the fiscal accounts.

Lowers liquidity reserve needs. A TSA reduces the volatility of cash flows through the treasury, thus allowing it to maintain a lower cash reserve/buffer to meet unexpected fiscal volatility."

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Travel › Re: Where Is This Road Located In The World by jaybee3(m): 8:02pm On Sep 11, 2015

debris:
Are you serious could that be Italy??

Yesoooo

Italian Alps

1 Like

Politics › Re: I Don't Like Jonathan But Buhari Is Evil! by jaybee3(m): 2:41pm On Sep 11, 2015

erikcantona:
give ya life to christ that's the only thing I can tell you! You purposely voted in a killer! #100 days of buhari 900 citizens have died only in the northeast!! How many will soon go ?? how many of his campaign promises have he fulfilled? How many have he denied in 100 days!! My friend am well educated to a good level so answer my own questions pls

What exactly did your Christ do when your Jesus was in power?

I really need to know the level of your education as that's the determinant factor on how i get you schooled

Politics › Re: Buhari's Economy Comparison - Pictures by jaybee3(m): 2:38pm On Sep 11, 2015*

gists:
Your ignorance obviously knows no bounds. It did not occur to you that their is a common outcome to all the countries shown irrespective of whatever it is weighted against. Many countries around the workd are experiencing another meltdown albeit not as bitting as that of 2007/2008. Even canada that has superior economy is feeling the effect. Just keep f0oling yourself.

I'm actually on your side and you should have presented a much better data visualization to buttress your point.
Losses in emerging markets will always be far greater than established markets but there is an obvious correlation between all of them which is the fact that China is slowing and oil prices have crashed.

Most established markets are on a downward trend because of worries over china and Europe.

They will always continue pumping liquidity by way of quantitative easing as they can't allow world economy to suffer another major financial meltdown.

emerging market's worries are somewhat restricted to the crashing oil prices hence why i've asked you to critically analyse the weighting of these independent markets

PS: See the attached graph and data. All you then need is a trend line which will obviously be downward

1 Like

Politics › Re: I Don't Like Jonathan But Buhari Is Evil! by jaybee3(m): 2:21pm On Sep 11, 2015

erikcantona:
you are one of the fools that can't call a spade a spade in this country always massaging the truth and supporting buhari wether wright or wrong for political gain! Is it not this president who said baboons and monkeys will saok in blood? And you voted him even after hearing this from him!! Weep for ya self! Tribalism ! Nepotism ! Favoritism has covered your sense of humor !

How old are you and what's your level of education?

7 Likes

Politics › Re: Buhari's Economy Comparison - Pictures by jaybee3(m): 2:20pm On Sep 11, 2015

gists:
No amount of words can be used to make it clear to you if this is not self-explanatory enough.

Okay let me engage you a bit so you don't pass your ignorance further

First and foremost, you can't compare markets in isolation without understanding how the indices are weighted.

As an example, the FTSE is heavily weighted by financial stocks hence the reason why the turmoil in the market isn't being represented fully in it's indices.

The dax is heavily weighted by the manufacturing giants and a slow down in china and possibly US will bring the indices down

You need to try and understand how Nigeria's indices is weighted and break it down into segments. After doing that, ask yourself which segment is actually making the indices under-perform due to its heavy weighting.

1 Like

Celebrities › Re: Tonto's Dad And Elder Brother Visits Late Mum's Grave (photos) by jaybee3(m): 2:05pm On Sep 11, 2015

Make i help you alert lala?

Aminatu da media researcher

Na you gan gan be radio OYO!

Politics › Re: I Don't Like Jonathan But Buhari Is Evil! by jaybee3(m): 2:03pm On Sep 11, 2015

erikcantona:
Buhari said he will make this country ungovernable for jonathan if he looses 2011 election, as he lost bombs started raining till today!killing of chriatians started in abuja! He also said dogs and baboons will soak in there bloods, today he lied his way up to power and denied all his campaign promises!stoping of his bokobois!!free lunch for pupils! 500k for citizens!! , now we are facing economic shut down from JP morgan to china snobing us! # hundred wasted days and still counting and we can hear is probe probe probe,yet ameachi is walking free + obasanjo tinubu etal!! Pls nigerians how did we get here

Are you seriously this foolish or something permanently wrong with your thick skull?

Since when did JP Morgan have the ability and power to shut down an economy?

China is one of numerous possible trading partners that we can get if and when market conditions are favorable

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Travel › Re: Beautiful Sights Of Lagos Island by jaybee3(m): 1:50pm On Sep 11, 2015

UjSizzle:

There will be no guns around here

How about a lyrical blade as i need to slide and dice all trespassers to pieces

Travel › Re: Beautiful Sights Of Lagos Island by jaybee3(m): 1:46pm On Sep 11, 2015

UjSizzle:
Lol for all we know I'm even older than him
Calm down joorh.

Man dem don't play around with their birds ya know?

Me literally took his threat on the real shitzo

anyhoo.. I got ma self a gun!

Travel › Re: Beautiful Sights Of Lagos Island by jaybee3(m): 1:42pm On Sep 11, 2015

UjSizzle:
You know I'm kidding

Dude categorically said he is coming for you.

Choi i don enter one chance

Travel › Re: Beautiful Sights Of Lagos Island by jaybee3(m): 1:34pm On Sep 11, 2015

UjSizzle:
How sweet.

Fashion › Re: Excessive Dependence On Makeup by jaybee3(m): 1:31pm On Sep 11, 2015

UjSizzle:
So you don't like when I paint my face for you?

Like you actually paint your face

abeg shift come my side.. na dem ojuju calabar we dey talk about for here
tongue

Politics › Re: See What Is Happening To Nigeria's Economy Under Buhari by jaybee3(m): 11:48am On Sep 11, 2015

gbaskipro:
Young man we need them more! Do you know how many things they buy from us? That goes to our economy purse?

Stop being condescending Mr!

So they are somewhat restricted to buying Oil from us but you've ridiculously ignored the fact that our lackadaisical import policy also allows substandard Chinese products to flood the streets of ur dear Nation. That's certainly worth a few bucks to the Chinese govt coffers doesn't it?

I'm sure you know china's growth is been fueled by their manufacturing strides so what's the point in manufacturing stuff they can't sell to friendly nations?

Once again, do you understand the concept behind bilateral trade agreements?

Health › Re: Why Are More Married Women In Nigeria Becoming Addicted To The Drug Codeine by jaybee3(m): 11:38am On Sep 11, 2015

be right back... lemme ask Ifa

1 Like 1 Share

Politics › Re: See What Is Happening To Nigeria's Economy Under Buhari by jaybee3(m): 11:36am On Sep 11, 2015

gbaskipro:
You totally have no sense, you are an illiterate and just a fool. So what concerns China and Change? Do they need Nigeria? We need them more so what do you mean by it is not Business as usual? SMH, you better face reality and stop all this blind loyalty to a party just for Pride sake.

Do you understand the concept of bilateral trade agreements?

We need them as much as they need us

Fashion › Re: Excessive Dependence On Makeup by jaybee3(m): 11:31am On Sep 11, 2015

Na so ooooo

Nothing dey happen

Properties › Re: Tastefully Finished 4units Of New 4brm Terraced Duplex 4 Rent In Amuwo (photos) by jaybee3(m): 11:30am On Sep 11, 2015

FMary:
Tastefully Finished:

4 units of New 4 bedroom terraced Duplex For Rent

Location: Divine Estate Amuwo Odofin

Price: 1.5M Per Annum

+ 10% Agent + Legal

+ 100k caution?

Contact: FrancisMary 08037055778

Travel › Re: Where Is This Road Located In The World by jaybee3(m): 11:21am On Sep 11, 2015

Paso San Boldo in Italy

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Politics › Re: See What Is Happening To Nigeria's Economy Under Buhari by jaybee3(m): 11:03am On Sep 11, 2015

muscoliscious:
Bro u make sense die

How?

Please explain

Business › Re: I Need Someone To Ship Item From UK by jaybee3(m): 10:59am On Sep 11, 2015

emonkey:
Can you share his contact details please

https://www.nairaland.com/1038776/midas-express-shipping-freight-services#12060727

Business › Re: I Need Someone To Ship Item From UK by jaybee3(m): 10:40am On Sep 11, 2015

Midas

Politics › Re: See What Is Happening To Nigeria's Economy Under Buhari by jaybee3(m): 10:25am On Sep 11, 2015

This is a classic example of having a brain but failing to engage it

What's the single most important reason for the economic downturn of countries that are largely dependent on crude export?

It's obvious there is a direct correlation between slowing oil prices and tightening finances hence the reason for the recent market volatility and somewhat painful albeit necessary economical challenges we are facing.

You seriously need to start reading to understand and stop reading to wail.

2 Likes

Family › Re: The Family Section Fun Room!! by jaybee3(m): 10:15am On Sep 11, 2015

Kimoni:
I went to the city centre yesterday strictly to get my baby's milk at Aldi cuz I saw it cheaper by just a small diffference from Asda who would usually bring it home for me o

I left in the morning only to return in the evening with different bags full of junks and I couldn't believe myself when I got home.

How did 2 tins of milk change to different bags full of crackers, pistachios and other orisirisi rubbish

Ijebu things

Nothing dey happen

Politics › Re: Buhari's Cabinet: Shocker Awaits APC Godfathers - Tribuneonline by jaybee3(m): 10:05am On Sep 11, 2015

drss:
Competence is not a crateria. Buari to appoint saints, incorruptible angels loyalist and long suffering friends as ministers.

Name one person out of all his appointments thus far that didn't come with an impeccable CV

Yes it's tough to find diamond in the rough hence his insistence on laying a good framework that will reward loyalty and performance whilst shunning all possible distractions that would have normally derailed their progress.

You need to give this man a chance!

We should only be questioning if the prospective recruits will represent a better spread of representation

7 Likes

Politics › Re: “I Know Where Buhari’s Wealth Is Hidden” – Fayose by jaybee3(m): 4:21pm On Sep 09, 2015

temitemi1:
Awon brothers e ni suegbe

O ya were ni?

Je kin gba eh mu mo ma deal pe lu eh

Politics › Re: “I Know Where Buhari’s Wealth Is Hidden” – Fayose by jaybee3(m): 3:56pm On Sep 09, 2015

temitemi1:
Some called him tout, some called him vagabond, some called talkative, some called him king Of boys, some called him 36 kiniun(lions), some called him friend of masses, some called him temitemi1's daddy, some called him nightmare of apc, some also called him professor of politics but I CALLED HIM MY ROLE MODEL!

Suegbe!

5 Likes 3 Shares

Jobs/Vacancies › Re: Sometimes I Want To Regret Going To School by jaybee3(m): 1:16pm On Sep 09, 2015

Emzyme:
30m per annum compared 2 by finger warriors 30m per week/month
which pays more

30M per annum is upper class
Probably the top 5% earners in the country so there you go

Jobs/Vacancies › Re: Sometimes I Want To Regret Going To School by jaybee3(m): 1:13pm On Sep 09, 2015

dearpreye:
Just get the message, bro. Meanwhile, thanks.

Message received but rejected and thrown out simply because the Fourier series you called useless is probably one of the important theorem used in wave/acoustic technology (Digital filtering).

I remember using codecs back in the day to design something that had to do with time division multiplexers

Don't even get me started with calculus

1 Like 1 Share

Jobs/Vacancies › Re: Sometimes I Want To Regret Going To School by jaybee3(m): 1:08pm On Sep 09, 2015

tobimillar:
I don't subscribe to giving excuses for failure...but then I ask do you need a degree to change your outlook about life?

The truth is nobody can ever and I mean EVER become TRUELY rich by working for someone or a company. The best one can be is a managing director in that company and then retirement comes.

To be truly rich, one need to own a company, like everybody is preaching these days, start small...but do you need a degree or master degree to start small? that is the pertinent question...our brothers who are importing and exporting, who own several business at idumota, onitsha, aba, Alaba etc don't even have any certificate...and at the end of the day they employ that graduate who spent almost 5years in school.

Come to think of it, the money some people spend for one year in school (school fees, handouts, lecture materials etc) is enough to start that business not to talk of the money people spend for a five year program?

What you smoking bro?

So the CEO's on wall street aren't rich?

The former CEO of Google Eric Shmidt with a net worth of approximately $10B has always been an employee

I have friends (young guys) that earn over 30M naira per annum as an employee in that same Nigeria of yours

3 Likes 1 Share

Jobs/Vacancies › Re: Sometimes I Want To Regret Going To School by jaybee3(m): 1:01pm On Sep 09, 2015

dearpreye:
Thanks for the above comment bro. But I have to disagree with some points there. Actually, education isn't overrated; it's our perception about it that is overrated and wrong. Education goes well beyond academics, the Fourier Series and the almost useless Calculus. LOL!

Fourier series and calculus aren't useless thank you very much

2 Likes 1 Share

Career › Re: What Is The Lowest Income A Person Living In Lagos Should Earn To Live Decently? by jaybee3(m): 11:44am On Sep 09, 2015

Decent is a bloody relative word duhhh

I suppose the right word is basic meaning a combination of accommodation, transport and feeding.

The average cost of living in a relatively cheap neighbourhood should be used in deriving the benchmark figure instead of figures being thrown around like it's going outta fashion

3 Likes

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