₦airaland Forum

Move in the right direction. If paying this would make people hold their leaders accountable.

Also, the government needs to bring in the informal economy too

missjekyll:
Hi Everyone, I m just on a wee fishing /brain picking expedition. Bear with me

Was anyone in the stockmarket during the pandemic boom? Did you cash in then or leave your cash in the market?

Considering the 2022 bust, did you regret your position? What would you have done differently?

The stock market is at record highs at the moment. Everytime I think "surely that's the peak". I wake up to skyrocketing gains.

Should I stay or fold? Thoughts please

The fact you're asking this question means you're not a professional trader and even professional traders hardly beat the market in the longrun. The retirement portfolio of many investors is in price discovery and there's the tendency to be contrarian.

Of course, the market can do anything but can also remain irrational much longer than you can expect. If you're investing for the longterm, no need trying to time the market. Stay calm and let the market do it's thing. For e.g, if you sold in 2021, would you have had the mind to buy in 2022 when interest rates were rising and everyone was screaming recession or would you have been left behind and looking to get in now?
If approaching retirement (which few here are), then diversifying into less volatile assets e.g mix of stocks and could may help.

BTW, have you revisited real estate investing as it seemed you flourished there in 9ja?

Ehya... happy he's recovering.

She's Ivorian.

Lessons learnt- team 'Nigerian girls are useless' should take note

iswallker:
If they played no role I they won't be demanding for their money. If there was no contract the company won't take the CBN to court and win the case.

These so many questions you said you have you think they were not asked in court before the judge ruled in their favor....

Much more has been stolen from Nigeria based on such contracts without the recipient lifting a pen. What did they do?

Millions of Nigerians should not suffer all to stuff some greedy pockets

Labadi69:
I am talking about international brokers. I can never ever use those local brokers. To each his own sha.

It boils down to how robust the local laws and SEC laws are in protecting investors funds. Ideally they should be ringfenced from the broker or investment firms funds. So if the later two go under, investors remain intact.

Eitherway, it's those same brokers people use to invest in the local stock market

What a pity!
This is criminal and a good attempt at state capture.

Who are the shareholders/owners if the firm? I wouldn't be surprised NIPOST officials and a select few

Too many questions

How could 15% of revenue from a source be awarded to private individuals on an enduring basis?
What role did the private firm pay to warrant that?
What stopped the banks from remitting said sums directly to the FG?


Courts should be able to make exceptions for such cases on the basis of national interest.

This should instigate an investigation by EFCC.

Godwin4444:
the reality many of u are yet to face is that even American police can't protect a country where the citizens are criminal minded

A country where all u need to show is money irrespective of how u got it

The igp said something the other day that 99.9% of robbery n kidnap cases has the hand of an insider in it

So pikin wey know him parent ways n he kidnap them, how police go know

Trash.
There is no excuse for the sorry state of policing in the country.

Goke7:
My brother just like you na double immigration status I get o like you said before I will be thrown out for another hard worker. You sef know the parole. Currently in a fix whether to go or to stay. Unis don chop their own, employers take advantage, me sef chop and take advantage. Equation balanced no victor no vanquished.

Hehe.. with the state of many nations, hard workers choke!
Gimme gist. Na Cana abi na Aussie or is it land of the free?
Finally, finally, I love the UK..reason why I stay put dey wait my kpali. That way, our colobi would be for life

Goodenoch:
Let me try to break this down:

They didn’t open the door wide for Nigerian immigrants.

They opened the door wide for people who could do the roles that were urgently required in the country and that there was a shortage of people willing and able to do.

It wasn’t a humanitarian gesture. It was a self-interested one to support the country’s care sector and economy.

The fact that many Nigerians were able to migrate as a result does not make it a charitable gesture extended to them, just like an employer opening up thousands of roles to applicants is a function of the business’ need and not a charitable gesture to would-be employees.

Just as in the above scenario that large employer employing thousands of people doesn’t mean that they couldn’t be abusive to those employees, it’s similarly illogical to say that just because many immigrants moved to the UK, it disproves the fact that the government was in many ways racist and anti migrant.

Succinctly put! Couldn't have said it better. Going back over 50 yrs, aside special instances, there's virtually one reason why any imigration pathway was made open in the UK.

Goke7:
It’s always sad when one is at the end of the stick when these pathways are closed or stricter rules enforced especially for students who have invested so much. It’s so heartbreaking. However the lesson I have learnt especially from the uk immigration system is that it’s just a low entry barrier and it’s up to individuals to make the most of it for their future advancement by managing their expectations around the opportunities available and not to be too emotional to maintain their sanity. Whether it’s education or work experience use it as a launching pad for self development and be grateful as that experience can be more fulfilling and rewarding elsewhere.

Hehe...

Not very low ooo.. even when COS was readily available, it still needed alot of hassle. I agree that finally, everybody go answer em papa name. Reason why when making decisions, one gats dey practical. If not, after Unis chop ur fee, UKVI chop their own, employers take good advantage, landlord collects rent, populace dishes you insults, 3-4 years later you're thrown out to be replaced by another hard worker.

Elsewhere kwa? Are you thinking of japa 2.0?

ReesheesuKnack:
..and yet if you read some Nairaland threads long enough, all you hear is how hostile and racist and ‘anti-migrant’ the out-gone govt was.

The unbundling of the Tier-2 and subsequent creation of the Health & Care visa by the Conservative Government had a lot of Winners from Nigeria. I’m not sure ANY UK government in the last 50 years have opened the door that wide for Nigerian immigrants.

#FactsOnly

Two opposing points can be right at thesame time.

The last government was anti-immigrant and won their election based on that narrative. However, in their naivity (or would I say stvpidity) and belief in British exceptionalism, they ditched an almost perfect migration arrangement with the EU and ran into the the hands of welcoming Indians and Nigerians- sure they were given a befitting welcome. All this ultimately led to their greatest defeat in a century. The post-Brexit immigration boom would be studied for a long time.

With Keir Starmer, it's different. He'd likely let in much less people than the past government but so far, he's shown that the narrative from his government would be different. The decisive showing after the last riots has been a good start. I hope he's able to get untop of the assylum issue.

Goke7:
They were indeed the biggest lottery winners 😜

Jokes apart they actually came to fill a void and justifiably they merit whatever they have gotten. It’s what it is. Just like those who can file green card applications from outside the United states and get approved while those who have paid through their nose for study in the US can hardly get an h1b which is also a lottery system that some folks outside the US too gets selected and migrate. Just timing and opportunity happening to everyone and everywhere.

True...especially the early ones. Some are already at 3 yrs+, some have switched to other roles. Even those still in care are now getting more shifts thanks to recent government changes.

I used to be strongly against those paying for Care visas until someone told me a number who came in via the student route were also paying to switch into care after studies and regretting all the sums paid. Since then, I toned down. Even when the warnings here were red hot, my advice was to weigh both carefully as the shafting that'd happen to a number of masters students wouldn't be funny.

P.s. I wouldn't wholly blame those who flocked in for the government change in rules. As with virtually every other imigration pathway (both historic and current), the route was only going to remain open so long as there was a need. Once filled, the pathway would be restricted or shut. It was largely inevitable.

Joyglo:
.....
A lot of people from my set (September 2023) are so confused. After study it’s postgraduate visa, and after postgraduate visa is now to redo another postgraduate degree or further to PhD because the threshold £38,700 is somewhat difficult to achieve?

A Filipino woman told me the threshold of £38,700 is a must on every visa one is switching to even if it’s ILR

Would someone explain what’s going on in this country? I know a lot of people in depression now some even have 3-4 kids.

What’s happening in UK?

Thank you

Sad to read. It appears many who are unable to secure a job that meets the relatively steep thresholds would have to take another masters (without dependents) or PhD, move into Care (without dependents) or seek clinical roles in the NHS (if qualified). I'd be keen to know what other pathways exist.

The more issues like this come up, the more it becomes clear that the 'winners' of the last immigration 'boom' may be those who came via the care route- most were able to bring in family, didn't have the burden of uni fees on them and are already counting 1-3yrs out of 5 for their ILR while students are stuck in limbo.

Says so much about the effectiveness of the last immigration system.

Labadi69:
Nigerians with Naija passport are not allowed by international brokers to invest in global ETFs. So they must work with what they have na.

I stumbled on global ETFs on Kuda which were hosted by Bamboo. They're marketed to Nigerians so it would be odd if Nigerian passport holders can't buy them. Another issue is the broker/platform fees for many of these passive funds. While in many places, you could pay no fee or very little platform fees, Nigerian firms tend to charge relatively high rates even above 1% of invested funds.

Also, it's unclear how robust the laws are regarding such platforms are I.e if investor funds are walled from the brokers

Cyberknight:
Lol - prepare to collect your much reduced state pension in your 70th decade or thereabouts. If the thing lasts that long. For me who just came to this country in my 40s with children, living and working in the south-east, my roughly outlined plan is to retire when my last employer throws me out and nobody else wants to employ me, then live off whatever occupational pension I will have accumulated, then, if there is no state pension, book a free NHS assisted death and a Co-op cremation when the workplace pension is finished.

Hehe... don't be so grim. 20 yrs is a long time.

I believe there'd be state pension long into the future. The parameters might change but any government that cuts it down significantly would be toast. Governments would rather bring in more people to support the system than tamper with state pension. For now, I hardly have a choice but I'd look keep contributing including voluntarily even if I leave.

Knowlegeseeking:
Elders Good evening.

I’m currently looking for a broadband-only deal, and I’ve noticed that my living room has both Virgin Media and Openreach fibre cables installed. After checking online, it seems that Virgin Media offers the fastest connection in my area.

However, I’m a bit confused by the different speed options and their varying prices. Could you advise me on what I should prioritize when choosing a plan? I’m hoping to find a good balance between speed and affordability, as the prices seem quite high.

At the moment, I’m using an unlimited data plan on my sim from Three, but the network performance is poor, which has made working from home difficult. My contract with Three expires at the end of this month, so I’m considering switching to Virgin Media for broadband.

For context, I don’t watch live TV—I mostly stream YouTube and Netflix, and I usually connect my TV via hotspot.

Any guidance you can offer on selecting the best deal would be greatly appreciated!

Had same dilemma a while back.

I'd say for full fibre, go with the lower speed and cheaper one. Most providers would allow you upgrade if its not fast enough. A quoted 50- 75MBs download speed would be more than enough for the needs of most. I use a similar plan with multiple devices and have never felt it lag.

Also worth purchasing through a cashback site such as Quidco if the numbers stack up. I remember I got about £100 in cashback for my current plan.

Cyberknight:
The social care crisis is a looming snowball gathering mass and hurtling down towards everyone and they act as if it isn't there. The UK's aversion to so-called tax rises at play as usual. The country cannot nationalise the problem just like that - Labour was right to scrap the care costs cap, that's ridiculous, so the next step is to levy more tax to set up a care system like Germany's consisting of a pooled risk long-term care insurance system with social insurance contributions collected from everyone. No other way forward - the councils will soon go bankrupt.

Hehe... who go gree for higher tax in this environment.

It's a trilema - maintaining good social/healthcare standards, lowering taxes/growing the economy and reducing migration. I wonder when last a UK govt was able to achieve all 3.

The issue is people would vote for their personal interests and when the population demography tilts so much towards older folks, they'd force government to make decisions that unduly favour them.

Look at all the drama limiting winter fuel payments caused. Same group worked much shorter years than their offspring and living much longer than their parents, had generous pension plans, cheaper housing, accumulated huge wealth, and are guaranteed a state pension that rises faster than workers salaries but yet, they still screamed to high heavens for a sum many of them can do without and are keen on scrapping inheritance tax. Imagine what would happen if the tripple lock was abolished.

Me that is religiously paying my NI... let nobody tell me no state pension when the time comes. Las las we go dey all right

In other news, care costs strike again. Not a surprise to me as I sometimes find myself haggling with social care staff to fund care or with folks who think it's my job to supply them carers. I feel for some social care staff though... they're being squeezed on both ends.
'Care authorities'

The spiralling cost of social services is eating into the budgets of England’s largest councils to the extent that many will soon be forced to abandon “nice to have” functions such as arts and youth clubs and Sure Start centres.

Council leaders are concerned town halls are at risk of becoming “care authorities” focused primarily on the provision of care packages to an expanding number of at-risk children and frail adults at the expense of other services.

Some top-tier councils are already spending as much as 70-80% of their annual revenue budget on adults and children’s social care – up from about 50% a decade ago – and say costs in these areas are rising and increasingly unsustainable.

https://amp.theguardian.com/society/2024/oct/03/rising-cost-of-social-services-in-england-putting-arts-and-youth-services-at-risk-say-councils

missjekyll:
https://www.telegraph.co.uk/business/2024/10/08/migration-drives-fastest-population-increase-since-1970s/

It's time the truth about immigration went mainstream. Enough of the lies. The commenters are frothing at the mouth. Lol.They do not like the reality. More articles like this should be written in the daily mail.

Hehe.

The difference in headlines when such popular data-based stories are reported throws light on where major UK media houses lean. One can tilt so far while remaining 'impartial'

The dominance of deaths over births was described by economists as “a stark reminder of Britain’s demographic challenges”. With student- and migrant-friendly cities ageing more slowly or even getting younger, and rural villages ageing faster, policymakers will face divergent demands to provide more social care in some areas and more school places in others, said Charlie McCurdy, an economist at the Resolution Foundation thinktank.


The headline and reporting from the Guardian paints a different picture I.e we need them.
Reminds me of a conversation I had with an conspiracy theorist during the riots. I was quick to remind him that Britain is in an 'enviable' position where birth rates were well below replacement figures. I.e., if no/little immigration occurred the population would quickly begin to fall and reminded him how that'd mean less traffic, huge jump in pay, less crime, cheaper housing e.t.c. Chap was looking bewildered. Proceeded to explain how this is very easy to achieve by ending/capping study visas, care visas and limiting the total number of work visas issued to say 20k. Then asked him why no government over the last 2 decades has taken any firm step to achieve something so easy. Funny enough, he was educated enough to not be convinced doing that would make his life any better.
The next 2 decades should be an interesting one to live through.

Cyberknight:
The fear of Reform is the beginning of [un]wisdom.

Some say best to head them off by being more wild-eyed than they are and giving vent to more deluded flights of rhetoric; others say best to reclaim the centre ground and preserve the Tories' reputation for calm-headed statesmanship.

Badenoch wins on the first premise, Cleverly on the second. I'm hoping strongly for the second, but expecting the first.

I largely agree with you.
The issue is that despite the Lib Dems arguably inflicting more harm on the conservatives, top runners for party leadership appear more focused on moving further right to fight Reform. Yes, Reform had a decent showing with the popular vote as expected of a populist party (similar to UKIP of 2014) but these protest votes were thinly spread and largely non-effective. OTOH, many Tory constituents of 2019 (i.e get Brexit done) opted to vote an ideologically different party (which was looking at returning to the EU) than go hard right with Reform.

Regarding Kemi, I feel she put jumped the gun by thinking being a finalist as a given hence targeted recent statements to appease the membership of the party who would eventually vote rather than fellow MPs. It appears many MPs did not take kindly to those statements as she has failed to consolidate votes. It would be a lesson if she falls short.

Kwankwaso may be thinking about 2031. I.e looking to secure votes of SE/SS should he and PO fail in a joint 2027 bid. He knows fully well it would be difficult to beat an incumbent as devious as BAT

Goodenoch:
....

People are still living and living very well in Nigeria in spite of all the challenges, and 5m will enable any family to live very well and overcome many of those challenges easily. Private Healthcare insurance, living in a very secure area, childcare, other household help, etc. that will very likely be inaccessible here in the UK on that salary.

I just checked and apparently the take home of a band 5 staff in the NHS is actually 1900 ish and not 2300 as I previously estimated. Accommodation for the family will very likely take half that. For those saying london extra pay, the cost of living in or near London will also take the same proportion if not more. And as for overtime - every hour overtime work is another hour that childcare needs to be paid for (or that the husband will need to cover and not be working).

Maybe the UK still makes more sense for some, but it's certainly not as clear cut as some seem to think.

Something happened last week and I pondered over this again. Since coming over, I tend to visit Nigeria yearly sometimes 2x a year and see the drop in living standards even with the recent fuel issue. Also, working in healthcare I know many nurses.
Would I choose the life of a band 5 colleague over say folks living in Wuse e.t.c (which is where 60m/yr would be)?. Different strokes, some certainly would but agency in one thing that weighs heavy.
For older more established families, it's even more difficult as the very fabric of the family can be torn apart moving from a peaceful home in a largely patriarchal and religious society to a western one. That might be the start of the end. In the end, each mallam with his kettle

Cyberknight:
I see this issue is still rumbling on.

When Badenoch first threw her hat into the ring for the leader job, I instinctively supported her. .....

Other minority politicians and leaders in industry and other fields of endeavour have come before her and will come after her and have aspired and will aspire to and achieve great things. This is what we want. I want to hold these people up to my children as role models. But for those who think that the way to aspire and achieve great things is to effectively attack your own community (as we've all said before irrespective of what you identify as, it doesn't matter - the world does your identification for you), your own people and others like them, throw around careless and ill-thought-through comments, then we'd rather you didn't aspire to anything at all, so that we can all stay safe.

I largely agree with you.

It's largely a traits of the first folks to break a barrier. Such achievements take alot of work to achieve and in the process many tend to overcompensate in a bid to show they're part of the new herd. Alot of women would tell you they were treated more harshly by female bosses in male dominated fields than by male bosses. We see it many areas too. When an immigrant rises to the top, they tend to go over and above to prove they wouldn't be partial and many times block the benefit immigrants were already being afforded. Over time, this does change as more minorities people break through.

The issue with someone like her is that she can say whatever about black folks/Nigerians and not be chastised as being racist. She can be the mouth piece for the most vile unsaid thoughts of the far right. She can virtually be their wallpaper and excuse. I saw her once dress down a labour MP who was raising objections to how immigrants were treated in Scotland. As Kemi begin talk, the opposing MP no sabi where to start again.

Also, don't underestimate what someone like her can achieve both positively and negatively. Take a look at Nigeria with very 'powerful' presidents. Major constitutional changes that favoured a certain group (e.g Sharia, resource control, LG issues in Lagos) could only be pushed through by a president from the opposite side. PMB for all his bigotry couldn't see out his plans on grazing reserves. A PM like Kemi could go over and above to dress down migrants and refuce what rights they enjoy with little repercussions. Conversely, she can also be a beacon of hope for loads of young black people in the UK looking to rewrite certain narratives.

Going forward, one solution is by making sure more capable minorities get to such positions. This makes it common place and means they'd be less likely to overcompensate. It also ensures diversity of thought.

Goodenoch:
Your usual distractionism.

.......
Plus, why didn't Kemi go to complain to the Home Office to stop granting visas to care workers instead of denigrating them as bottom wipers? If she chose to take the route of starting a name-calling match instead, then it's only fair for people to respond in kind.

Hehe. This your narrative na die. Na IELTs band 8.5 get you so

It's now 'butaboutism' i.e a mix of 'Whataboutism' and the 'but culture'

ehizario2012:
The elements would not let kemi reach that height of actioning her wishes against Nigerians... All in a bid to please her white masters. People who don't even care if she exists or not.

I repeat as I said months ago, immigrants (especially Nigerians now) need to know their place. [/b]Aspire and reach whatever heights the system allows you to attain here, be as British as legally possible, but never ever forget your place. You can never become white British, it's a waste of time trying to be one.

If our country was excellent, probably a lot of us here in the UK would have remained back home. Enjoy the opportunities of the land, pay your taxes, [b]but don't be like that man who is given a yard and tries to grab a mile. Cheers.

I'm wondering.. what is the 'place' of immigrants in the UK and for how many generations does this place hold.

By 'grabbing a mile' you mean?

These your narratives far exceeded one person e.g Kemi and I'd like to know the drivers.

Many don't understand that being able to speak another man's language is not a measure of intelligence. Virtually any child can sound eloquent with the right background. Many intelligent classmates had strong cultural accents and were not as fluent in English. Didn't take anything from their intelligence.

All said, for optics, being fluent in one's lingua franca does help but its not the be all and end all

spiSeyi:
....The issue with most Nigerian women is attitude and their entitled mentality at every sphere of life. Even meeting with Ghanaian or Ivorian ladies will make you not want to have anything to do with 9ja babe again . Nigerian women are yet to understand that looks are the last thing men of this generation consider when making choices for a life partner. Men just want peace and a woman that will support their dreams

True, many nen don't fancy excessive makeup on a lady they want to wife.
However, if you think the average Nigerian lady is entitled, then you have not dated a Western lady or even been in the West long enough. Entitlement is now a way of life in many developed societies especially Britain

kwakudtraveller:
I noticed this too and houses are leaving the market as fast as they drop. Banks like Nationwide offering 6 times people’s income is also a win for the housing market.

I’ve been monitoring interest rates like a hawk and I just read that Bank of England could cut the interest rates further.

https://www.bbc.co.uk/news/articles/cx2lp5l9dpro.amp

We're in a rate cutting cycle and baring any unforseen circumstance, rates are expected to drop but not as low as they were pre-covid as it's clear all that did was to inflate asset prices.

The govt is pushing to increase supply of new homes but a huge bottle neck not yet visibly considered is the workforce to build such houses in an affordable way. Eitherway, getting on the housing ladder early is advantageous

Rent money is... (I no tok anything).

Getting on the housing ladder in an appropriate manner does provide good stability. This is not to demonise landlords providing good service.

https://www.theguardian.com/money/2024/sep/30/uk-house-prices-hit-highest-annual-growth-since-2022

House prices and the economy have remained resilient despite rate rises. Same also with stocks, gold, and many other assets.

Now that interest rates are on a downward trend, the recession scare hasn't materialised and we're witnessing a real rise in wages for the first time in decades, it would not surprise that nominal house prices resume and upward trend. For now, it's just a months data so worth keeping an eye on. For those looking to get on the ladder, no need to fear- keep pushing.

Let's not forget that house prices have seen a 'significant' fall in real terms over the last 2 years as inflation ripped through and the cost everything rose except house prices. I.e the crash everyone was expecting might have already happened but in real terms.

https://www.theguardian.com/money/2024/sep/30/uk-house-prices-hit-highest-annual-growth-since-2022

Rampant inflation plus currency collapse without economic growth is terrible.

Recently was speaking with someone who was advising I buy land as investment in certain areas. Person used their purchase years back as an example. At about 2009, they had bought a piece for 16 million. That piece is now about 75 million. Good profit he thought.

We sat down and crunched the numbers.
1. 16 million in 2009 at exchange of about 135 was about 118k usd
2. 75m today at an exchange of 1600 is about 46k usd. I.e 72k usd lost.

This is depressing but then we have not considered that the dollar itself has lost over 40% of its value in that time. So despite the land being worth more naira, there is no real term return (i.e after taking out inflation) but rather a significant loss.
Some might say why bother about usd- this would be true if our currency was stable. Today, the usd exchange determines the cost of most goods we buy.

What burst our brain was crunching the numbers to see if that money was put in a globally diversified index fund. Historically, despite volatility, these have yielded an average of 7-9% annually longterm. That 118k usd if invested in a global fund would be worth at least 374k usd today. That's how to track or beat inflation and how many westerners fund lavish retirements. I'm not even going into ease of sale e.t.c between both

emmaodet:
...
So we have virtually 20% cash left for 200m plus Nigerians to fight for at an expensive rate from the banks because they will only loan it to the highest bidders anyway.
Which brings me to the question -
If you are discouraging manufacturers thereby reducing production, some even close up due to loan defaults and layoff, how you want take grow economy when people are been thrown into more hardship and unemployment.
This type of economic move still dey baffle me.
Anyway, I didn't graduate from Cambridge or hold an MBA, so I will leave that to exparts or professionals in that sectoe

Good expouse.

Issue is that CBN is copying what western nations did to combat inflation without first asking themselves why it worked there. Consumer debt is huge in the West meaning a small rise in interest rate would affect how much people can pay for housing, cars and their disposable cash. In Nigeria it's the opposite. What's worse is that while we all agree inflation was driven by reckless new money printing, where we differentiate from stable economies is how much we print is what we use our new money for. The nation is not using new money to provide infrastructure, support SME's, free/affordable healthcare, good education to its citizens rather it's being looted by politicians or siphoned to the rich why the everyday folks suffer the effects of inflation

Before Buhari, all the naira ever printed was 19 trillion. Buhari + Emefiele printed over 30 trillion. I.e in 8 years they had access to almost double of all the naira we had in our combined history. What economic output was that used to create? Ultimately such printing would lead to serious inflation which was worsened by the fact that our economy regressed during that time.