₦airaland Forum

Cyberknight:
Much as I'm not yet a permanent resident myself and would rather the old rules remained in place, I would be very surprised if this goes anywhere in today's febrile climate. Apart from paying some smart barrister's bills for a while. Not only does it smack of entitlement, but also I think public opinion would be firmly against unelected judges gutting an elected government's policy of this magnitude and salience (if Labour doesn't do a U-turn in this matter in the first place and secondly, ultimately only amends the Immigration Rules by SI).

Incidentally, the Grauniad, the FT and the rest of the progressive media have been recently running articles about how the fall in net migration will negatively affect the economy, bless their hearts, but it's quite clear now that the immigration debate has moved firmly into the political realm and any other arguments, including economic arguments, whether actually substantiated or not, no longer carry any weight.

I would contest the bolded. Seeking legal routes for redress (i.e petitions, peaceful protests, writing to MPs, using the courts) is exactly what it means to be British. I'd say that proponents of this push are infact demonstrating that they're 'integrating' into British culture. I would not expect a Brit or someone who seeks same to immediately cower in defeat when they feel an 'agreement' has been trespassed upon. There are lots of things the courts can do. But even if they fail, let them try. They have little to lose.

It remains to be seen in full what effect the rapid drop in migrants causes. It's said that it takes about 7years to get to the maximum benefit of migrants arriving. Labour might still have some leeway economically over the bext 2-3yrs (due to recent arrivals) before things begin to unravel. I suspect they've tied themselves in knots without knowing.

Cyberknight:
Er... it appears they are.
https://www.lbc.co.uk/article/reform-uk-would-limit-polls-to-british-citizens-and-scale-back-postal-votes-5HjdTfd_2/

Hehe... didn't take long...

“Meanwhile, allowing non-Brits – people with zero connection to this country – to vote on our future is absurd. It is right that only British citizens should be able to vote in British parliamentary elections.'


How can he say commonwealth residents have zero connections... most of us are distant relatives and former subjects of the crown.

Eitherway, let's see if Labour would latch unto this in their right wing drive. I doubt though as Reform/Restore seems to be most affected here.

Ugmama:
William H brown does everything for one, including remortgaging after you have purchased (all for a fee).

Mortgage broker

I don't see the need to pay a fee except your circumstance is unusually unique.

Most mortgage brokers do not charge a fee for residential purchases. They get paid by the lender. Even when I bought a BTL, I only paid a token of about £200 I believe which was one off and would not be paid on subsequent purchases or remortgaging.

It might look daunting but the UK process is fairly straightforward. I'd go with a free mortgage broker that has access to all of the market. If you're on a visa, in a way it makes the process easier as your mortgage options are streamlined.

For remortgaging, I'd first see what my current lenders rates are. Another option is using a comparison site or a broker to see what rates are available. In all instances, I would seek not to pay a fee except if its the product fee fir the particular lending product I want.

All said, paying £800 to a mortgage broker for a straightforward residential mortgage looks to me like a rip-off.

Controlv:
You've raised a very good point about value and price growth. During our second round of viewings few weeks ago, we found a very lovey property but the growth was just not it. 1st round of sales in the area after 10 years returned less than 3%. The area is now 20 years old and the price growth is not impressive either so we had to let go and stick with our current purchase.

The main question I'd be asking is why? In your case, it'd most likely be the area

There are local nuances to many areas that limit price growth.
Also house types also play a role. Flats in certain areas took a beating over the last 10yrs due to 'unlimited supply' and people moving out of cities during covid.

New builds can also have a premium initially but except you're buying something outrageously overpriced, they tend to level out in a few years - abt 2. Manytimes people forget that with a new build, you get new utilities, kitchens e.t.c which older houses don't have

Ugmama:
Guys pls advise me.
Is it better to do my mortgage guidance with Mojo or house agents such as William H Brown?

Mojo services is free

William H brown I have to pay about £800 and each time I remortgage I will pay £99

What mortgage guidance exactly are you referring to?

Is it a mortgage broker or mortgage application?

Finally... why do I have the feeling the next anti-migrant rhetoric would be someone driving the narrative of how migrants from commonwealth nations can vote almost as soon as they arrive the UK. Why should they be allowed to vote? Afterall.... Saudi Arabia does not allow such.

I'm still surprised Reform and Restore have not latched unto this. This is the demographic least likely to vote for them. Just like with most things migration, it's likely they're unaware.

Talking about Trumps tarrifs, just learned that the new blanket 10-15% he introduced was via another section in the law after the U.S supreme court rendered most of the previous ones illegal as the section of the law they were based on was not meant to be for such. Every nation is now on thesame tarrif including our U.K which gave Trump an 'unprecedented second state visit' to appease him and China wey no send am.

Also, the section of law he bases his new tarrifs on only gives a 5 month limit. I wonder what he does after 5 months..

Where does that leave the UK deal Starmer kowtowed (abi worked) so hard to get?

Hehehe.. Good move just like the lawsuit against Trumps tarrifs

Who knows how to sign-up? 25k raised is still on the lower end though but should begin the process and grow with time.

https://archive.is/Byz6b

Goke7:
Yeah to be honest it will be difficult to obtain such updated data. Only the govt can with their various legal touch points with residents so it’s understandable. I think they enumerate most things we can all relate to! I like how the guy himself was honest with the struggles his own parents had when they came in as immigrants in the uk. He’s also very much in touch with reality back home too and from his other videos he speaks about the financial and pension implications of immigrating from the uk or back home as he has another nice video on this breaking down the various countries the uk has pension arrangements with and the ones they don’t.

Interesting. Even government data needs multiple touchpoints and need to factor in wealth which is also more difficult to track. Though a minority, a good one is for people who earn via their corp. One can earn 100k and if their total salary and dividends is say 20k, that becomes their income.

Black tax is a huge deal. One does look back and wonder. They sound like they extricated themselves out of it. Kudos to them though.

Memorychip:
The Tories are watching the complete rot of their “banana”, while Kemi is telling them it’s simply a sign that the “banana” is ripening.

Lol... una no go kill person for here. Make una leave Kemi... who knows, she might evenvisit Nairaland on occasions to see what 'bottom-wipers' are up to.

The media are increasingly treating Reform as the defacto opposition. The far-right members of her party are even leaving her behind. Let's see what her new narrative would be

abuhusna1:
Kemi total vote in next general election may not be up to 50k. 90% whites wont vote her and 99% immigrants won't vote her.

Hehe.. they still have areas they control though things are looking dire.

They lost good parts of the south to the LibDems with their move to the right and it's quite clear that most Labour strongholds would rather go Green or even Reform than vote them.

I wonder what story she'd sell to electorates now. Anti-migrant talk which has traditionally been the low-hanging fruit has now been cordoned off by the far right. It's become clear that no matter what hate she wants to spread, Reform would take it much higher than she can dire to go. If she says legal migrants need 30 years to ILR, Reform would say people like her are not even Brits. She has to now sell her rhetoric and at thesame time explain why what Reform is offering is too extreme.

I suspect they'd pivot and now look to sell themselves on economic competence.

Next few years would be good to watch.

Goke7:
😂 Omo see gaslighting

https://x.com/kemibadenoch/status/2027338096526643553?s=46&t=tk-1hGRx-HBpOmsos8uccA

Multiracial vs Multicultural OMG!

Kemi the preacher.. hehe. She don see Right wey pass far-Right.

Thank God for Greens. They and Reform abi Restore may help safeguard things.

Goke7:
Thought to share


https://www.youtube.com/watch?v=qlP0b-aH1_s?si=ZGg0Z8N6LSX5A0q_

@Jedisco this might be of interest!

Nice video. Dem fit dey this thread sef

Issue is main data source they discussed was based on self-reported surveys by Ohent Pay- a money transfer company.
First thing is that these surveys are not backed by verifiable data. I understand this is quite difficult - even some census data is self-reported. While most people would and should tell the truth, quite a few aren't bothered. I know people who when they come across such just put in an arbitrary number. When asked that in Canada, I don't know where to start.

Also, many people have moved on from Ohent Pay so by numbers, I wonder how robust this is. They were quite analog and slow but used to have quite competitive rates which brought people in. With time, the likes of Lemfi beat them on rates with a sleek app too.
Lastly, these surveys are usually done at the point of signup and hardly updated.

All said, good point were raised and I think the actual fact isnt far off. Like where he listed the 'stages of development' as one carries on

leocollins:
I woke up with this mortgage idea and lending system in my mind,and through out the day I have been having This idea that has potentials but our banks and lending rates comes to play,what you just said is the truth if the administration can look into this aspects our economy will boost in no time..

If one starts looking into the economics of the mortgage industry, it becomes clear why housing contributes upwards of 25% to the gdp of many developed nations. That in itself can have it's drawbacks but the modern mortgage is in itself an economic miracle. It's almost what electricity was to tech. The benefits to the citizens, government, banks, wider economy cannot be overstated.

Educationalserv:
Non really so .most people that got capital and choose other scheme have their hand Burt . Some don't have time to Manage business or are not business inclined.
Imagine all those monies lost in MMM ,MBA ,CBEX and NGX .
70 percent of new business fail in Nigeria

Well said. Any rate above inflation is a good start. 'Riskless' money (i.e kending to the government) shouldn't come with undue gains

skydiver01:
The large amount of failed subscription bids of yesterday's Bond Auction results (shown below) suggests the CBN is actively seeking to drive down the cost of borrowing and at the same time also reducing the amounts offered for subscription

Slowly, we'd get there. CBN rates of under 5% with low inflation and systemic business support would turbocharge the economy
I also hope the reduction in amounts offered feeds back into reduced public debt. Not moving from local to foreign debt.
P.S. I'm not against sustainable debt if used properly.

Goodenoch:
See Badenough complaining about identity politics because someone implied she and her children are not really British -

https://www.telegraph.co.uk/politics/2026/02/20/badenoch-accuses-reform-of-playing-identity-politics/

https://archive.is/AlrOs

Doesn’t she have a sense of irony?

I thinks she'd soon realise that as long as far-right ideologies go, she's an amatuer. There are pros and legend levels to the game. No matter how extreme her narrative is, Reform would take it a step higher and Restore 2 steps higher. She's like iPhone 17... pro and pro max still dey. As for Starmer... that one dey novice territory i.e iPhone 16

Educationalserv:
how do you achieve that ?when the basic infrastructure for economic prosperity is unavailable.
Electricity, security and roads
a under 10 percent loan offer by bank of industry is prone to round Tripping back into Fixed income securities at 20
CBN intervention on how bank loan out money is anti capitalism .
Bank are rational investor and the operate and put funds where return is high and short term
They are not emotional and political beings.
Nigerians got loans from Covid funds at zero
They Majorly refuse to pay back

Operating in hostile Red ocean fill with Vampires and sharks ( Nigeria citizens) need Dracula's banking skills to deliver deviden to shareholders.

It wouldn't happen overnight but the direction of travel should be clear. Same way inflation didn't drop from 30% to 15% in a day. Same also with government interest rates.
The CBN is not going to wake one morning and mandate all banks to lend at x%. They'd communicate clearly where they want things to go and use avenues like cash reserves, what percentage of loans have to be at a rate not exceeding x% of TB rates, limiting how much TBs or bonds banks can have on their balance sheet e.t.c. There are ample means to achive this - it's not hard. Other countries have and continue to do so. It goes without saying that the CBN TB rates form the bedrock of borrowing and banks should hardly go below that.


Yes, we have our issues- all other countries do.
I am a capitalist and there is no such thing as 100% capitalism. Governments exist to protect and provide guard rails for the better good without being unduly intrusive.
What I'm highlighting isn't rocket science. Many countries including developing ones have done or are doing it. The reason they succeed is not because their citizens have 4 heads but cos they built the system. Nobody likes paying back loans or tax but they do when there are repercussions.


To be clear, I am not simply blaming individual banks. They should seek the best returns for their shareholders. Most of the fault falls with the CBN/government. Building a strong middle class benefits all including the banks.
If we can't build a proper financial system, then we have no business using fiat- we should go back to using cowries. The birth of the mortgage system and widespread business and consumer credit was what turbocharged and still supports most western nations. There is virtually no poor country with those and every rich nation has them.

Educationalserv:
there a lot of opportunities in Nigeria for risk takers but Nigeria bank don't have long term funds to lend . majority of funds are Short term deposit at call .
Our economy is still in transition and developing at we progress economically people tend to keep fund in long term in the bank making them loan to business at affordable rate going forward .bank are rational

Considering their footprint, the banks are not doing enough. I'd expect that to be the next direction of drive for the CBN. Banks cannot be reporting record sums in profit without tangible support for the local economy.
I remember a video from Tinubu in 2021 advocating cheaper lending rates to boost growth.
Introducing widely available lending rates of under 10% and widening our mortgage system with rates sub 10% would get us to a $1 Trillion economy in no time. All that wouldn't happen overnight but it's high time the CBN steps in.

Educationalserv:
in. psychology the prediction of future behavior is former behavior .
I don't trust the Nigeria state and it leadship
I will not liquidate my USD position to be mess up by Nigeria politicians due to past experience.
1 USD = buy 1 USD worth of service at any time and season ( 90 percent accuracy)
I bought a 10k USD car when USD was 650
After several years I can still get same car for 9k USD .
There no guarantee from Naira .( 10 percent accuracy)
The car went from 7m to 16m back to 13 m soon to 11m .
It can also flung up to 18m when they start pilling up USD for election.

I agree there have been decent macroeconomic changes that are yielding fruit and should get better down the line. Security is now a top issue that needs to be fixed. It doesn't take loads to get our economy growing at 10% pa for the next 10 yrs.
Buhari was a disaster who lacked the technical knowhow to grow an economy.

I think the USD play is no more alpha. It was an assured bet from 2014 - 2022 as the CBN set a fixed exchange rate not in keeping with reality and also gave cheap dollars to certain folks which fueled round-tripping as a means to generate billions out of thin air. Economic collapse was certain if that continued. Today, Nigerians can spend internationally with their bank cards and banks annouce rates daily. Remittances don't need to flow through backdoor channels to get good rates.

Holding the USD longterm also comes with its risk. Lets not forget the dollar is being devalued and that is accelerating. The USD has lost 10% of its value this year. If holding USD and wishing to retain ones buying power, the aim isn't just to hold cash but to invest it by way of fixed market instruments or index fvnds (if the money is not needed in the near future). That way, you either abate or beat inflation.

To me investing in the Nigerian economy is looking to be the next alpha. Baring any unforseen circumstance, the naira should hold steady between 1000 - 1500 ngn per usd. All folks want is stability so businesses can thrive. Also, as inflation comes down, the CBN needs to quickly cut rates and mandate banks to reduce lending rates and support the wider economy. I cannot understand how a bank is quoting 36% and a 2yr repayment period to a thriving business. How can the economy and companies grow with such rate? We need proper credit facilities and access to cheaper loans. Banks have been allowed to make too much money holding TBs and bonds. Ideally, the return on bonds should be less than inflation. That'd force capital into the real economy. The st0ck market has done well and that should feed into the local economy. That in addition to macroeconomic changes and falling inflation, has made me bullish on the Nigerian economy for the first time in a very long time

Goke7:
😂 please forward this to farage may be this is is what he meant when he said people should stop working from home but from the war front

It's funny how right wing British politics has got.
Labour now are centre-right
The conservatives are 'mid-right'
Reform are far-right
Restore Britain are the farthest (abi extreme) right

It seems everyone is scrambling for the right-wing vote leaving LibDems and Greens +/- 'Your party' to scramble for the left

HustlaOfLagos:
Yeah, saw it somewhere

Which app is best for it?

https://monevator.com/compare-uk-cheapest-online-brokers/

Invest Engine and Trading 212 are both free and have a sleek interface.

Educationalserv:
The inflows is not only FGN loans ,it Majorly investment in NGX , Money Markets and FDI
with the liberalizing of the exchange rate they can buy USD from parallel Markets at point of exit .
Unless like Buhari Magic they needed CBN intervention to exit
They have weighed their Risk VS Reward

FDI was just 565 million out of the 16 billion (i.e just about 3.5%).
Interest on most money market funds are mainly driven by treasury bills and bonds i.e government borrowing
NGX has done well on the back of the exchange system relaxation and currency devaluation. It's been on a tremendous run and foreign capital would not ride it forever. At some point, they'd seek to capitalise profits.

Sure, they have weighed their risk and reward and would likely make bank. The question is have we as a nation weighed ours?

To be clear, this is not Buhari's government and there is improved economic competence in todays leadership. The ultimate backstop to these inflows would be if the local economy can grow faster than the liabilities due in future.

HustlaOfLagos:
Need to read up on ISA in the end..

been holding off on them for so long as we no even know which route they will bring tomorrow & son of man is not guaranteed any long term stays

The earlier, the better. In 6 weeks, the annual allowance resets.

Viruses:
If not for the snippet you quoted, I don't read that guy's post because I see him like someone practicing writing and just needs an audience. The other time he gave a timeline for youths to leave Nigeria otherwise they'll become useless to humanity.

That same place we say is not good is where others are making it big. The problem now is people seems to be aligning with his opinion.

I usually welcome opposing views as it enables me X-ray my thoughts manytimes bringing to the fore my blindspots. There is no one way to success afterall. However, where I draw the line is when people start denigrating others or making unfounded statements.
If you feel you have seen the light, then share make we follow know road. However, if your 'light' is putting down a whole continent and your people for some phantom pathway, then you should X-ray your thought process.

Lexusgs430:
The best combination in my opinion, is to combo all of them......

Work pension, state pension, ISA & SIPP....... With the ISA, you can deep your hands into it, whenever and however, if the need arises.......

The beauty of all this schemes, it reduces your disposable income, thereby reducing your black tax and makes you more financially prudent & savvy..... 😂 🤔

Be a proud Akagon...... 🙄 😂

True... I agree.
Flexibility of ISAs are unrivalled. Tax rebates and perks on pensions are good. The holding period in pensions is both a pro and a con. No easy fiddling so the money truly does grow but can't be used for emergencies.

Lol @black tax... but na true finally. Once ISA and pension targets are set for the year and direct debit set up, other expenses come afterwards. Also, because there's a set target, one can also decide to do extra work to fill them up. They are truly good tools.
The equivalent of ISA in Canada has an allowance of just about £3700. Maximum SIPP equivalent is about £18k and more complex. Both thresholds are adjusted for inflation every year but the difference is still significant.

Nice video I upon which reminds me of conversations recently had here on ISAs and SIPPs.
Worth a watch.

https://www.youtube.com/watch?v=44u3ETcUns0&pp=0gcJCUABo7VqN5tD

https://www.youtube.com/watch?v=JUz2c8lpyWk

Interesting video on Canada. I wonder how much of the stories narrated resonate with folks.

Goodenoch:
Reports say a new arrest has been made in a grooming gangs investigation:

https://www.lbc.co.uk/article/live-updates-andrew-mountbatten-windsor-5HjdSYj_2/

Hehe... you sef...

Deport him and protect our women! He has failed to integrate into British culture.

Eitherway, though late, in handling this episode, they're not mimicking the U.S.

CodeTemplar:
The higher the share spent on food the more severe the hardchip.

Well said. It soon becomes a luxury.

Why should a 50kg bag of rice be more than an adults wage for a whole month? It's mind-boggling

Interesting read...
This part got me thinking. Dejavu perhaps.
I remember when Buhari et.al did their majic and boasted about inflows from portfolio investors but they forgot they were going to pay back with interest in 1-2yrs time. These portfolio investors don't stick around. They're in and out, moving to the next country they'd benefit from. It's the citizens that deal with the aftermath of their visit. I wonder if the structural changes by the CBN could weather the storm when that $16 Billion (plus interest) seeks to leave


According to data cited by the National Bureau of Statistics, about $16.7 billion flowed into Nigeria in the first nine months of 2025, yet only $565 million of that was foreign direct investment, representing just 3.3 per cent.
The rest was largely portfolio investment, which is another way of saying money that packs light and travels fast.

https://nairametrics.com/2026/02/15/the-dangers-of-an-appreciating-naira/

Goke7:
😂 guy abeg Dey hide disclosure about things like this o cos na wetin Dey stir anti immigrant rhetoric out there including from fellow migrants (awon old takers)

Don’t be another coloniser o 😂 we’ve been thru and still going thru a lot e jo!

Hehe. Forget anti-immigrant rhetoric. I am not looking to change someone's thought process but I've come to see that not stating our stories gives certain groups the fulcrum to insult us.

When was the last time someone here blamed migrants for not being able to see their GP or the state of the NHS as was commonplace years back?

Most racists are just like bullies- they always retreat when challenged. They'd see a care worker looking to get by and blame them for the housing crises but remain silent when they encounter migrants who are unapologetic landlords. Tell me I'm the cause of high housing cost and I'd tell you I'm in the process of acquiring more - with no apologies.

Truth be said, 78k in a SIPP is modest by all accounts. A trip to FIREUK community on Reddit would show folks who have amassed over a million in their SIPP in preparation for retirement. Yes, we all start from somewhere but those ones no get two heads.