₦airaland Forum

Ultimately, despite all the brouhaha and preaching, asides any major upheaval, it seems it's those who rather than go for masters used part of that money to source a care visa that would come out better off.

Yes a few might be burnt and stranded, some others might have their COS revoked but many more have simmered thru into more dependable sponsors and counting 1-2 yrs. Masters folks OTOH would be gearing up to face reality

hustla:
@jedisco

.....

I know there will be cries about shortages within 1 yr though.

Make we dey observe

There are many caveats but its difficult to say how things would pan out.

Though the new rules might be duly unjust to incoming care workers, but from a UK perspective, the government seems to have clinched it as it unduly benefits the UK economy.

There is now a limitless supply of tax-paying cheap care labour who have no access to public funds and no dependents. Folks coming in thru this pathway are pretty stuck with limited mobility as not many roles would pay the 38k to sponsor family. With time, it'd tend to be young single folks coming over which is what the economy wants as they have a lifetime to work. These folks wouldn't be able to bring their mates from home so expect more single ladies and men loitering. The downside is that folks keen on migrating would rather just pay for a care visa than face the uncertainty of masters route. Ultimately, locals would start complaining on how immigrants in the UK are not as high achieving as elsewhere while forgetting the bottlenecks they face. Another is that healthcare exposes one to the entitlement of the British populace. With time, dem too go sabi.

Many masters students OTOH are pretty much shafted as a good number came with family and jobs paying 38k are not very easy to come by. For many, it's either they go into care (meaning part of the family returns home) or they start looking elsewhere e.g Canada

Ojemedad:
For now I use other exchange for p2p them move to Binance

What exchanges still offer p2p in naira?

lavida001:
Bold of Rishi to think this people want to work.

Alot of lazy folks have hidden under the bandwagon of immigration/Brexit to milk the system and hapless immigrants. Currently 2.8 million on longterm sick. Ultimately the most effective way to reduce that number is to make work pay. All the talk about NHS wait lists are additional.

Reason why I wanted the care visa to end so eye go clear everybody. One told me over the weekend that she'd rather flip burgers at Macdonalds than be paid minimum wage for a care role. (I have rephrased her words nicely).

Council recently sent me a letter informing me council tax is going up by 12%. i.e I'm now to pay 2.4k+ a year. Guess the main driver? Adult social care which is also the story for many other councils. Annoyingly, e go still increase next year as many folks and their nans want carers four times a day plus supported living not including those seeking free council house e.t.c all paid for by others peoples taxes. These same folks would still say its tax paying immigrants looting the system.

I hope when time reaches for tax paying immigrants to benefit from same adult social care, there wouldn't be calls saying these new group of Brits were not born here.

hustla:
Very sad / interesting read smh

https://www.walesonline.co.uk/news/wales-news/baby-scan-clinic-humiliated-degraded-28765633

Harrowing story for me.

I'm glad she found the strength and right support to help her thru. Not group of folks repeating 'afterall, Nigeria is not any better' or 'she knew what she was going into'

lightofjoy:
....
Along the line, an agent from an online jobsite categorically call me and told me that since I don't have UK experience, I should come down on my salary expectation and come to something like 35K or 40K but with my 16 years professional experiences and my experience in my last job in Nigeria, I was determined to go for the best. Also, from this forum, there were advices by some of our people that said you should go for the salary range you want and someone even said here that don't apply for salary range you don't want. Before I forget, I graduated with distinction when my result came out in February (All Glory to God). All these encourage me to go for what I want, I was applying for as many as I could in my desired salary range and later within the last two weeks of interview I got a job of over 60K with hybrid working and a lot of benefits.
....

Kudos.. happy the grit and grind paid off. Na this kind story dey sweet.
No apologies aiming for the top. We are not neant to scrape the bottom.

Ojemedad:
My technique, I’m playing futures 3x (though risky but to maximize profit,) but holding for the next 6-12 months. I’m hodling #alice and #lunc and #sand

Still a traditional approach.
25-35% in betece. Would look to rotate to eith when the time comes.

Regarding alyts, I'm more in established ones... sol, avax, bnb, ada... some shib nd doge...
Hoping on a pullback to scoop up alyts.

BTW, what are the p2p options available?

Ojemedad:
Baba we need you here abeg , stay with us

My brother... long time...

Mk we enjoy this phase... what's your technique and what are you holding?

Gerrard59:
In the future, countries will have to make do with whatever population they have as the need to constantly increase the population isn't sustainable as birth rates plunge across countries of varying development levels. Apart from Africa and South Asia, most countries have TFRs below 2.1.

True but that would also lead to a systematic change moreso with capitalism which no nation seems ready for.

Automation and tech has helped reduce the need for workers but ultimately, machines do not consume, and unlikely to fill certain roles.

Most western nations and corporations have repeatedly shown they'd choose immigration over low growth. This reality would slowly dawn on the populace in the coming decades.

The Japan stock market has hardly grown in 30yrs. Houses there today are cheaper than they were 30years ago. Their yearly population decline is rapidly increasing- was over 800,000 last year. They've had to literally force the nation to spend racking up high debts with the highest GDP to debt ratio (over 200%) among the developed world. They are now scampering, looking for humans. How many UK boomers would want to see same? How many genZ would want to work into their 70s?

For many nations, immigration is hardly a choice- its a necessity.

Mazinewmoney:
Where is Jedisco

My brother I dey... opportunities abound.. quite focused..

One main thing I noticed it that many alts made a higher low during the last bear market... higher high comes soon hopefully

Gerrard59:
Sorry to interrupt, but when developed countries wish to increase their birth rates, they don't mean people like us o. They mean "their own people". So, while the rate might increase, they are not completely happy about the people who constitute that increment.

The point here is that except children start being made and parented in labs, they hardly get to choose at least not in the way they hope to. With the care sector post-Brexit, the choice for the UK was either to ratchet up taxes and device ways for Boomers to give back their wealth to pay for British care or look for cheap labour abroad. The choice was hurriedly the later. The end result is now causing moans.

Many western nations are sitting on a demographic landmine which is becoming more obvious as years role by. Due to this, Germany opened its doors to millions of refuges. Canada only recently streamlined the pathway for many folks. The only nation that has largely stuck to its guns is Japan and even they are now increasingly looking out. Yes, they all rightly want to preselect those who come.
There are thousands of Africans naturalized in the UK. I wonder how many came via a lottery or 'diversity visa'. We are largely here cos someone sat and illustrated to the government that the UK would benefit more from us being in than being out hence whatever visa pathway we used.

Zahra29:
It's not innuendo, it has been stated numerous times by the government and I'm sure they have access to data points and not just anecdotes:

https://homeofficemedia.blog.gov.uk/2024/02/01/reducing-net-migration-factsheet-december-2023/

Surely some dependants work – so by banning them you are reducing the amount of working people coming to the UK?   

We estimate that only around 25% of dependants work when they come to the UK.
...

Estimates are estimates... not data points and multiple estimates by government bodies based on concrete data have been well off the mark recently (inflation rate, housing crash, BOE rate rise e.t.c). This is even worse off given that it's driven by a political narrative and flies in the face of reality.

Years back, we heard stories of how visitors were bankrupting the NHS and estimates of huge sums that could be saved which forced many Trusts (against common sense) to set up a desk for this purpose. Within a few months it became evident that whatever money being saved couldn't even pay for the person manning the desk. With Brexit, we heard estimates of how the UK would be awash with cash. Hehe... Even core data points need alot of work to interpret more so estimates which are politically driven.

It's good you paint a picture of some married masters students struggling to meet up. So you really think such a family would have an adult member who can work sitting at home all day when their stay is on the brink due to low funds? Why did many masters students come with their spouse in the first place? Lastly, the word dependent is not just limited to international students

umarwy:
The 80% of dependant that don't work mostly can't because they are kids

Careful with all these innuendos being thrown around. I'm yet to see any publication stating 80% of dependants are economically inactive. The reverse tends to be the case. If a Brit with access to public funds can barely survive on entry wages, how then does a family with visa fees do same on one income?

Look around, there are plenty masters students who came with their spouse. It's the income from their spouse that sorts their fees. Moreso given their spouse has no work limitation. Many even left kids back home until they are settled. Many times, dependants work harder than their sponsored other. Recently, a lady shared here how her dependant spouse did same and within a few years, they had a home.

Regarding children, thats a moot point. Every western nation sorely needs kids as birthrate has remained below replacement level. It is those naturalized kids that'd be the Sunaks of tomorrow helping to offset the rising wage costs of the elderly which is the burden their parents are shouldering today.

Zahra29:
Erm the bolded is a bit hyperbolic isn't it ? For starters, unless the nurse was not born in Nigeria, it is a statement of fact. Secondly this fact wasn't emblazoned in their headline, accompanied by any derogation, it was simply mentioned in the middle of the article.

My first post adressed this: 'It's not about whether those statements are true or false but what they dubiously set out to achieve'. That's why its called microagrression. It's hardly ever in your face but mainly in incidents and patterns that leave you wondering if you'd have been treated differently if you were white. Another example is captured below.

Zahra29:
The dependant ban will not be lifted anytime soon.... the state has estimated that 80% of dependants do not work and are a net beneficiary of the state.

It's for them to decide (likely post-election). If its another knee jerk reaction, it'd be back to chasing tails after a few years. Someone needs to sit and make forward thinking and realistic plans.
BTW, mind sharing your source for the bolded claim? It's largely at variance to what I see around me.

hustla:
Their public sabi anything other than to complain and moan and bar hop?

It'd take a while for whatever is going on in that sector to settle. This is an election year and the anti-imigrant narrative is the lowest hanging fruit for the Tories and they've thrown everything at it. They should see the tightening through to the election at least.

OTOH, the universities are strong at lobbying and would push thru facts moreso with their cash cow (i.e international students) being muzzled while fees for local students have been capped since 2016. Interestingly 'international students account for one in every five pounds in income received by UK universities'.

Zahra29:
....
So while we speak out against racism in the UK,whether real or perceived, let's also be introspective and speak out loudly against any form of discrimination among your own people.

This is classic whataboutism.

The issue of discuss here is an article exemplifying how some sections of the British media use certain innuendos to spur up hate against immigrant groups.

The general issue of human discrimination can always be discussed INB and not dragged in to cast a shadow on this specific issue.

ositadima1:
I am not saying that alleged siphoning and laundering by politicians is not contributing. I think it is more that money that should have provided an enabling environment for domestic industrialization to thrive is being diverted to private pockets.

When I mean loot, I dont just mean laundering abroad. I'm referring to the initial recipients of the CBN largesse who have taken us for a ride

Let delve deep. From inception of the naira to 2015, we had 21 trillion in circulation. Between 2015 and 2023, Buhari + Emefiele printed over 70 trillion. What did they use it for?

You talk about productivity and I agree it's a major factor. But increase in productivity as we've seen in UAE and China are the result of concrete steps. What are the top 10 items we spend forex on? Are we saying that even 10 trillion if well utilised cannot build domestic sufficiency in a number of those?

Taal17:
She is Nigerian born na, even with UK passport she is recorded as having naturalized citizenship

It's a classic example of racial microagrression - a way the media has used to frame public thinking over time.

It was more rampant in the past moreso in reporting misdemeanours by healthcare professionals. Classic example was that of Dr. Hadiza Bawa as every article then began her story with 'Nigerian born...' It was years after the incident I got to know she had spent years in the UK and even went to uni here. When they do well, its not 'Indian born' or 'Nigerian born'. For some reason, some news outlets stopped using that format after a while

It's not about whether those statements are true or false but what they dubiously set out to achieve. What it does is create in the mind of readers a subconscious racist narrative that foriegn born/BAME workers are inherently less capable. Not just that, it festers on in institutions as institutional racism where the immigrant or BAME staff is always scapegoated when things go wrong and much more likely to be reported to the regulator than a white colleague.

This has raised the most dust in medicine. A judge had to recently blast GMC for being institutionally racist due to clear bias on how they handle cases. Of recent, it was the case of a doctor who was suspended due to a flimsy disagreement around a laptop which drew the ire of all medical bodies as it was almost certain not to have happened if she was British white.

Next time you see that phrase, remember what the author is targeting.
Examples abound- The UK football team reached the first major football final in decades thanks to several black players- no one remembered their skin colour until they lost the penalties then unprintable names started being passed about. Or is it Megan? Even the IHS you pay today was largely thanks to such narrative.

ayshegz:
Hello seniors ,what low risk (90% risk free ) investment can return 1% (£20) daily on £ 2,000?

Thanks

£20 per day is equivalent to £7300 a year. Thats over 300% . There is no safe investment that'd give anything close to that.

Even £20 per month which works out to 12% is a very far stretch.
Safe GBP investments are in the range of 3-5 % at the moment. Most potentially higher returns = more risk

Acidosis:
Very well said, my brother. Should the CBN remains steadfast and curb any clandestine printing activities, we may see a positive impact on inflation. But how far can one trust the government to do the right thing? Most of the issues we've come to know about the Buhari administration and his "ways and means" only came to light at the end of his tenure.

True.. folks initially defended 'ways and means' thinking Buhari had discovered a new economic phenomenon that other nations had not tried before.

There is a reason the central bank of most developed nations are largely independent in law and deed as politicians who are largely concerned only about their tenure would almost always misuse that opportunity.

VeeVeeMyLuv:
No devaluation is main reason for that
When dollars was 400 naira .you needed only just ₦400 cash to get a $

Now you need much more cash, ₦1600 cash to get a $

Now please 🙏 tell us why naira in circulation won't increase X4 like you rightly stated

Let's do the maths ₦1600/₦400 = 4!

You see it has increased four times.

QED.

Emefiele tried to intervene u guys casted him away like a piece of trash.

Had it been his policy was allowed to mature it would have crashed significantly to below ₦500 @ parallel market rate.

What led to devaluation?

The naira has historically lost an average of over 10% of its value against the usd for over 2 decades. Likely worse of late. If our politicians could, they'd fix the 1 usd to 1 naira and campaign on it.

In the modern world, the valuation of currencies largely boils down to supply vs demand. Other variables such as economy size, growth, productivity, consumption etc ultimately affect those two.

Our classic scenario is simple- due to governmental waste and poor revenue, the FG has little money left after obligatories. Rather than do the hardwork, they turn to the CBN which prints more to satisfy them. This extra naira supply that is not matched by production eventually drives up prices (i.e a fall in the true value of the naira) which also results in devaluation as more naira is chasing the few dollars we earn. PMB only took this to another level.

Let me finally ask- why do you think countries just dont print unlimited amounts of local currency and convert to usd or use to sort all their needs?

ositadima1:
[i]Printing money is not the only potential source of inflation, and a falling exchange rate of an import-dependent nation can also contribute to inflation.

Quote you struck out said 'Excessive printing was the major driver of the devaluation we see today'. Keyword: major driver not only driver.

Secondly, the exchange rate is a secondary index primarily driven by certain fundamental economic functions such as productivity, money supply, etc.. The question should be what has driven up our exchange rate?

In 2015, our naira in circulation was 21 trillion. Today, it is 93 trillion. Thats 4x increase while our productivity (in GDP) has remained stagnant over same period.
If our CBN keeps printing tens of trillions and handing over to politicians to loot as it did over the last 8 years, it does not matter if we go on dry fasting for the next 4 years, the resultant inflation would get worse.

Creamypie:
Most Asian countries, along with sub sahara african states and so many south american states have totally useless governments. In fact, they are supposed to be colonized and ruled by the western states for life

Tone down your inferiority complex. The reason the global south may seem to be in disrepair is not just down to 'bad leadership' but moreso due to unfair systems that encourage siphoning of resources to the west.

Acidosis:
This thread is funny 🤣🤣

People who invested heavily in Naira denominated investments and platforms would do and say anything to defend the Naira. Conversely, those who bought dollar or invested in dollar denominated mutual funds will say just anything to defend their decision.

At the end of the day, Naira/Dollar do not care about your emotions, prayers, or your trust in the government. 😂 Do not trust the Naira/Dollar fully unless you're the blood that flows through Cardoso's vein....

Hehe... most people now see they ultimately have a dog in the game. All said, Nigeria is a country with little or no social security net meaning there is no depth to which folks can't potentially fall to. People are now waking up to the reality of protecting their investment.


I expected CBN to come fighting at 1500. For a brief period, I worriedly thought they lost the battle but kudos to them, they threw almost the whole sink at it. It was at 1500 they devalued the official rate, changed rules for importers, started selling USD to banks, relicenced BDCs and started supplying them, settled many airline debts, heavily targeted crypt0 exchanges, further increased interest rates... Main thing untouched is dom accounts
Some of these have little effect but when used together, should count for something and I'm expecting relative stability at the level for sometime.

The big question now is whether underground work is being sone to ensure longterm stability. The biggest announcement in all this was the end of the reckless money printing of PMB called 'ways and means'. Excessive printing was the major driver of the devaluation we see today. If they stick to their guns and don't devise underhand means to print recklessly, then that should ultimately tame inflation and enable the radically different approach by BATs government to bring some rewards.

Trash.... you quacks go around spreading false information.

For starters, almost all those symptoms mentioned have nothing to do with staph. Majority are not due to an infection.

Hope you know that the so called staph aureus lives freely on everyones skin? While this bacteria can cause infections if it moves to areas where it shouldn't be, over 90% of so called staph aureus results on lab results in Nigeria are a result of contamination either when the sample was taken or in the lab.

More people have brought more damage to themselves by endlessly taking antibiotics for non-infective symptoms. Also, the wider society suffers antibiotic resistance due to misues as and the antibiotics become less effective with time. All because some quack said staph.

P.s there is no such thing as 'toilet infection'. Once I hear that from someone purporting to be a health practitioner, I know a quack is speaking.

Lexusgs430:
Quick read...... Learn to mind your business........ 🤣😜

The hunter, got hunted....... 🤣

https://www.standard.co.uk/news/crime/cycling-london-helmet-camera-mobile-phone-driver-dave-clifton-b1141159.html

Hehe I'm sure na the Range Rover vex the cyclist sotey he comit crime to pull him down. The hate for Range drivers is real.

The end of the article sweet me... 'Mr Clifton is due to face trial next month at Lavender Hill magistrates court. The driver of the Range Rover received a police “advisory letter” but faced no criminal case.'

Acidosis:
There are over 300,000 cooperative societies in Nigeria (around the largest in the world). The UK has only 7,000.

These institutions have more than 30 million members in Nigeria.

SMEs contribute 48% to Nigeria's GDP.

Over 70% of business owners in Nigeria would rather depend on loans from cooperative societies than bank loan. These are the people controlling credits in Nigeria.

The above are fundamental datasets that are peculiar to the Nigerian economy. We need people to hack our peculiarities. Enough of using economic jargons from the West. Our lives and economic decisions shouldn't be solely based around the banking sector.

The issue is that we know or copy what works or others did but we don't know the how or why it worked for them. Of course without the luck of sharing same peculiarities, those copied policies quickly fail.

In life, he who knows why will always lead

Validated:
It means that before you borrow to go and do "owambe", you need to think twice and leave borrowing to those who are interested in productivity. Infact, it should hit 30% by Q2.

And you think those who are interested in productivity/productive economies take loans/lend money to businesses at over 30%? In Nigeria, how many businesses can you run successfully and also pay back a loan of over 30% while at it?

Also, you fail to understand the role consumption ('owambe') has in driving an economy. Production is only meaningful if there's someone to consume new goods

Zonefree:
This broke and non virgin Nigerian girl again

Stop bullying folks here. It depicts you as being weak

Tranquility2345:
Gbam! Na the koko be this! No be all the yamayama jargons wey those two guys up there are typing!

Wisdom is not repeating same thing continously and expecting different results.

Interest rates were increased in 2017- 2019. How did it end?

Argentina, Turkey e.t.c all have interest rates double that of Nigeria. How has that helped them fight inflation? How come Western nations were able to cripple inflation by just rasing rates to 5%?

frank33:
Government is increasing TB interest rates to encourage more people to purchase TBs.

The more people buy TBs, the less cash they will have to buy dollars.

The aim is to reduce the demand for dollars within the country. They want to stabilise the exchange rate (slow the decline of the naira) by any means possible.

Make your choice, buy TB at this high interest rate or buy dollars. Shikena

Let me ask.

1. Before increasing the rate, had the government been able to mop up the naira folks were offering to it at lower rates? It's like asking your bank for a loan at higher rates when you have not able to spend the loan offered at a lower rate.

2. How does the government generate the money to pay these investors in a years time?
3. If answer to no 2 is printed money, what happens when investors are paid off in a years time? Does the government allow them go spend this largesse causing more inflation or increase the rates further to entise them?
4. What is the resultant effect of sustained rampant money printing?
5. What happened the last time the government increased rates (2017-2019) and gave us same reason plus attracting foreign investors?

To me this approach is like using a plaster over a gaping wound, it only works in underground work has been done.

narite:
.....

Clearly, the inflation ravaging our country is not that of too much Money chasing few goods (individuals and organizations are already cutting on spendings they do not even have) rather it more of cost-push.
......

I agree... there's very little discretionary spending with the average Nigerian.

All governments print money. The difference is how that money is fed into the society. Printed money causes inflation. Those who are first in getting the fresh money benefit the most by being able to buy up assets (or forex) cheaply. By the time peanuts trickle down to the populace, inflation would have pushed prices up meaning they are left poorer. This has been our story recently.

Nigeria printed an additional supply of over 20 trillion in the last few years. Virtually everything was stolen or went to rich individuals and banks. How much of it got to the masses who are now grappling the resultant inflation? Reason why I've pushed for the government to take decisive fiscal steps that support local substitution of imported produce (where feasible) even if it means using printed money to achieve that.