₦airaland Forum

dre11:
Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, has been sentenced to four months in jail after he pleaded guilty…




https://dailytrust.com/binance-founder-sent-to-jail-as-nigeria-awaits-extradition-of-africa-manager/

Dapromzy333:
https://platinumtimes.ng/meet-30-ilorin-based-catholic-secondary-school-students-who-scored-above-300-in-jamb-exam/

Reflect7:
World Bank, Air Force, Shofac to Establish $5bn Aviation City in Osun




https://www.thisdaylive.com/index.php/2023/02/28/world-bank-air-force-shofac-to-establish-5bn-aviation-city-in-osun

Nemere2020:
TheCableIndex

yoruboid:
The Yorubas are moving forward

Lagos welcomes all genuine lovers from the North and South South

Criminals should stay in their five plots and stop taking over under bridges in Ikoyi

emkz:
What Peter Obi is trying to do is politics of populism. He realizes that the social media mob is sympathetic to the Landmark CEO who encroached on government land, and he decided to initiate a Twitter rant yesterday condemning the project.

To tell you how dangerous it is, some people are now asking investors not to invest in Lagos and a dangerous ethnic dimension has entered the conversation.

Landmark is one of several businesses and why are other businesses silent?

Looking at what was demolished, see picture below; please how does that amount to $200million investment? Quantity surveyors and valuers, please give a fair assessment of the value of that swimming pool and temporary shanties.

While I think Umahi went too far in saying Peter Obi is inciting Igbos, I think it is important for Peter Obi to inform himself of the implications of some of his submissions in the public arena. Nigeria is too fragile to play this ethnic game because of elections.

What many are reading is him fighting for his brother's investment, whipping up mob sentiments and misrepresenting facts.

Until now, Landmark has not proved to the social media that they own the land. They are saying shift the project away so I can illegally stay on the land. That is the illegality Peter Obi supports.

Apparently, the most expensive asset there is the swimming pool.

From the internet, the cost of a swimming pool is as follows;

Let's say each gazebo costs ₦500,000. There are about twenty of them there. That works out to about ₦10,000,000. I see three buildings. Let's put them at the cost of ₦20,000,000 each. Assuming the swimming pool costs ₦80,000,000 to build + ₦10,000,000 for gazebos and ₦60,000,000 for building, that works out to ₦150,000,000. Using an exchange rate of USD$1 = ₦1,263.273; that works out to USD$120,000. Okay, let's use the exchange rate of the naira to the dollar as at six years ago, since the CEO of Landmark claimed it was a six year investment. Obviously, prices were way cheaper then, but let us still use today's prices. That ₦150,000,000 works out to about USD$450,000 using an exchange rate of ₦333 to the dollar which obtained as at six years ago. Experts can argue for inflation and price fluctuations.

Clearly, the costing shows that the investment demolished is between 0.225% to 0.06% of the $200m investment claimed by the Landmark CEO. Of course, many bought it and ran with it.

At this time, the Landmark CEO owes the government an apology and owes the mob on social media an apology for misleading the public through social media.

Bliss4Lyfe:
What else is in that head?


Empty vessel makes the loudest noise and that is why Nigeria will soon collapse.

Dunces have refuse to shut up.


SW dunce!

nedu666:
Rubbish reply. The east west road connects lagos and all Niger Delta states. The new costal Road does the same except it has railways. Now common sense dictates you complete the east west road before embarking on a new road. The east west road is not completed, the portion done are in bad shape yet you start a new road

Beautifulday:
A lot of idiots have access to microphone in Nigeria.This writer has not been to a beach before.

There are more that 100 businesses that offer products and services in a moderate beach without any investment interest not to talk of 200 million dollars investment.

When a company of these size goes down, a lot of other smaller businesses that offers complimentary businesses and services go down.

The smaller businesses may have 5 to 10 employees but when you multiply it by the number of such businesses, you will understand the after effect of such businesses going down.

Depriest2020:
Then it should be built like other rail way lines been built in other parts of Nigeria and not these narrow gauge with that locomotive train I saw there. I've seen the ones built in other places and I applaud the government for that.

blancsn1:
This news de give migraine to Obidient Ipob

Oakenshield:
Demolition of illegal properties are good but who gave them c of o,who came to survey the place and give the go ahead. So many nonsense in Lagos

Penguin2:
Tor

Ogbonnaya Onu is a classical example that no Igbo man will get anything from this people by remaining in servitude to these people.

When they make those stupid assertions like “if Igbos want power they must align with the center…they have to vote APC”, I just laugh. Because what they are doing is asking you to come and become their next useful idiot.

Onu has been with these guys since 1999. He never defected. He closest friends and allies were northerners but what did he gain at the end? Tears!

I saw him crying like an infant suckling his mother’s breast during the APC convention and I couldn’t help but cringe. Nobody acted like he existed. When he was done wailing, he left the stage in shame.

Orji Uzor Kalu who has equally been slaving them since 1999 equally ended in tears when he was crying like a little child they took her biscuit at the floor of the National Assembly.

Rochas Okorocha nko? They humiliated him until he respected himself and went and hid in shame. Despite his servitude to them, they sent EFCC to go and remove his zinc and capture and humiliate him like a common criminal.

Umahi is on same trajectory and I can already predict how it will end for him - in tears.

And I see a lot of people who claim to be Igbos fooling themselves here in the name supporting APC; toeing the foolish path of the fools before them and I always laugh at them.

Igbos will never gain anything being of servitude to this people.

If you don’t learn from history, you will just end up as just another historical specimen.

Lizzysamuel:
𝐎𝐛𝐢𝐝𝐢𝐞𝐧𝐭𝐬 𝐃𝐞𝐜𝐥𝐚𝐫𝐞 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐎𝐧𝐞 𝐁𝐨𝐫𝐞𝐡𝐨𝐥𝐞 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐩𝐞𝐫 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐢𝐧 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐨𝐟 𝐏𝐞𝐭𝐞𝐫 𝐎𝐛𝐢



Coalition For Peter Obi

Odewaleadesoye:
DAILY POST[/font]

Juliusganduje:
No evidence of the killings. Only newspaper report.

MantileBernice:
Will you give us 180NGN to 1USD as it was in Jonathan's government? Any government that doesn't return Nigeria to that stage and then from there move on to higher naira strength is a failed government. Because it means that the past had something better than the present

illuminutty:
Watch out as more stupid people do more stupid and dangerous things in anticipation of being rewarded by the government.

Someone will soon jump off the roof of the tallest building in Lagos or jump across a moving train and the jobless governor will be there for their posthumous reward and recognition.

Juliusganduje:
Sanwo Olu is becoming too petty and idle at the moment.

BeeBeeOoh:
https://dailypost.ng/2024/04/08/dont-transact-in-dollar-efcc-warns-schools-hotels-others/

Badgers14:
You might be the one peddling fake news.

There's no coal in Onitsha.

Even if there was, when Ajaokuta steel was instituted in Kogi state. Coal was a viable commodity at time.

I have actually seen the documents posted here on nairaland few months ago.. Onitsha was one of the places recommended by the engineer.

successmatters:
If only that Ajaokuta steel mills are located in Onitsha, na big industry that will be very profitable. That Ajaokuta is off from most major development hubs.

Sheuns:
Some govt officials talk like what I don’t understand.

If people said the buses would breakdown on the road or it’ll have terrible maintenance, it’s simply because they’ve seen what was done with the previous ones (non electric) that’s been bought.

What’s oju ti awon ota, when people were only pointing out poor maintenance culture of anything that belongs to the government. Even though monies are budgeted for these maintenance it still isn’t used for that purpose.

Just do your work and leave otas alone.

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to reduce its applicable buying exchange rate downward due to naira’s speedy recovery.

ABCON said the N1,251/$ applicable buying exchange rate CBN pegged for bureau de change (BDC) operators would result in losses for its members, as the open market rate stands at N1,235/$.

The association disclosed this in a letter signed by Aminu Gwadabe, ABCON president, to the CBN director, trade and exchange department.

On March 25, CBN had announced the second tranche of sales of foreign exchange (FX) to BDC operators at the rate of N1,251/$.

ABCON said this is the first time CBN’s applicable buying exchange rate for the CBN will be higher than the open market rate.

“We discovered a worrisome development where many of our members who paid for dollar allocations at N1,251/$ with a margin of 1.5% are yet to receive their disbursement. This is happening in the face of prevailing open market rate of N1,235/$ which is lower than the authorised applicable exchange rate by the CBN to the BDCs,” the group said.

ABCON said it forecast naira will continue to appreciate further across FX markets with the increasing sources of foreign exchange inflows aided by CBN policies.

Also, the association said its forecasts in the ongoing market development indicate a willingness of the market to correct itself with realistic price discovery.

“It is in view of the above market developments that we write to appeal to your good selves for a readjustments and review downwards of our funding rate of the last tranche (2nd bidding) from N1,251/$ further down to reflect current market rate discovery,” ABCON said.

“This became imperative as it is only the consideration of the readjustment downward that will enable our members to upload their holding positions.”

REVIEW PAYMENT PROCESS

ABCON also requested a review of the process of payments at the various disbursement centres to medium-time automation to achieve enhanced timely payments due to the spot nature of the group’s transactions.

The group further requested “that based on the offer and acceptance rule, the approval of refunds to those that are yet to collect disbursement having funded their accounts as it is the market that determines the rate presently be considered going forward”.

ABCON also said the current open-ended system for payments and collection of bids does not make for effective administration and control of the process and requested CBN introduce a cut-off time for payments and collection of bids.

“Consequently, many of our members are jittery to bid/collect their bid for fear of losing money as the current market reality has the potential to force us to sell below cost price and antithetical to recent market price discovery,” the group said.

The association said a quick and decisive response from the CBN can address the disturbing exchange rate disparity.

ABCON said this will enhance BDC operators’ participation in the bidding process and improve their confidence in the ongoing intervention by the CBN.

naptu2:
https://www.channelstv.com/2024/04/04/court-summons-five-persons-for-defamation-of-mercy-chinwo/

Previous threads: Gospel Singer Nathaniel Bassey Petitions IGP Over Defamation
https://www.nairaland.com/8050636/gospel-singer-nathaniel-bassey-petitions

Defamation: DJ Spoilt Kid Apologises To Nathaniel Bassey
https://www.nairaland.com/8050895/defamation-dj-spoilt-kid-apologises

FILE PHOTO: Gospel singer, Mercy Chinwo, and her husband, Blessed Uzochikwa

renderme:
Forbes have released their list of billionaires for the year and this has been going viral on social media.

5 Nigerians have been noted on the list of the Worlds Richest Black People which has only 20 billionaires.
World's Richest Black People



Africa Facts Zone

Racoon:
Julius Abure may be ocastrating this show but same time we can't ruled out sabotage. He should just resign. The last controversial Labour Party convection is really generating more problems for him and the Party.

TouchNfollow:
https://thenationonlineng.net/navy-uncovers-400000-capacity-diesel-bunker-in-lekki-private-residence/#google_vignette

onumadu:
Here they come again with a new strategy.
The more things change, the more they remain the same.
If they can't score a goal, they move the goalposts.

Which is exactly why smart people like myself NEVER and will NEVER own a property in Lagos, even if offered free.
Like Snoop Dogg said "I'm too swift on my toes to be caught up with you hoes".

HeatSeeker:
https://punchng.com/94-of-property-in-lagos-without-title/

lexy2014:
in response to this question "What is certain...that God showed him a vision or that Umahi is a pastor/prophet?", you said "Tinubu will handover in 2031".

Pls how does that answer the question?

what exactly is Tinubu doing right now that shows that he will handover a better Nigeria?

are you basing your claim on what Umahi claimed God showed him or based on facts on ground?

what is the "vision" Umahi has seen and how do you know that he actually saw a "vision"?

Papayaayasager:
It's starting since Fashola administration

So it's not Sanwo-Olu's project