₦airaland Forum

Passionnn:
Ahead of Sunday night's final match between the Super Eagles of Nigeria and the people's Elephant of ivory coast, Frontline Ghanaian actor, John DUMELO using his Facebook page has an apology to Nigeria over a derogatory he made sometimes ago when he referred to them as Super Chickens. It was the aftermath of the previous world cup play off between Nigeria and ghana. Ghana progressed at the expense of Nigeria's failure to score in Accra playing a barren draw. Ghana however scored in the 1- 1 draw in Abuja, a vital away goal which got them the qualification slot which left the Nigerian supporters heart broken.
The table has changed with the recent AFCON. Ghana could not qualify from their group which ensures an early exit for the Black Stars. Nigeria Super Eagles have continued to wax stronger with each game and are hoping to win their fourth AFCON title in Abidjan on Sunday night.
https://www.facebook.com/100044599291964/posts/pfbid02joed2hQ4bQ5rNiwKhTczbk6HL3NifQRJ9fsvJJi83PZ7G8eJkbYgVuetpjoUFMcMl/?mibextid=rS40aB7S9Ucbxw6v

Wait, Nigeria didn't qualify for the next world cup?

spencekat:
Jagaban changed his mind.

Well, that makes sense, all things considered.

SoNature:
Tinubu didn't join him so he doesn't get added to the growing list of casualties of Nigeria's AFCON games. 🥱🥱🥱

I thought the CAF president said Tinubu is going.

matify83:
Playing the neutral card won't work in today's match at all.

It's winner takes all and the super Eagles deserves an unalloyed support.

He either picks a side or remain with the ivorians- his host whom he is struggling not to annoy.

@bolded. Why?

Kukutenla:
The north are hypocrites. And that is why Nigeria is not a country. To claim Buhari got away with murder because of cult followership is to deodorise the pungent tribal and religious fundamentalism that's at the base of his followership. Most of Buhari's followers in the CPC they formed are clueless, dumb and sectional. Just check out their performance as ministers and heads of agencies.
The only appeal they had in the north was based on tribal and religious ideology and not any superior group interest.

It is also disheartening that after the maladministration CBN went through under Buhari and Emefiele is lackey, Tinubu couldn't get a better fit for the job of repositioning such a critical institution. What's worse is his elevation of CBN above NNPCL which has fared better previously in terms of audit and compliance.
However, it is obvious Cardoso is not running a one man show. He's under the tutelage of Edun. So it's more like the voice of Cardoso but the hands of Edun. And this is not to say I agree with Kperoogi's assessment of him

Err, what do you mean by the above, sir? You disagree with the policy of NNPCL warehousing its receipts with the CBN?

VeeVeeMyLuv:
No it won't

Didn't you see where he said the policy will make price of imported foreign goods very expensive and prohibitive

The rate will even be higher! Higher inflationary pressures, volatility of prices of imported goods. These guys don't have human feeling.

They should work towards stabilising FX and the economy.

Floating is how you stabilize the fx market and the economy–along with addressing supply issues, of course. How can anyone be against a policy that ends arbitrage, which enriches a few connected people at the expense of the rest of us? Floating will only increase the prices of goods if most legit traders were sourcing fx from the official market, which wasn't the case.

erniok:
Let the CBN governor know that the rate is getting to 2k/$ without the free floating of the naira. Let us not experience a runaway inflation.

If it's true they've settled their foreign loan/obligations, the free float will bring down the rate.

nlfpmod:
https://nairametrics.com/2024/02/09/cbn-edges-towards-free-float-of-naira-with-discontinuation-of-cap-on-forex-transactions/

Good to see they're serious about this floating matter. It'll also render the new issue of paying out in dollar or naira moot.

ogododo:
https://dailypost.ng/2024/02/09/bandits-threatening-to-attack-me-gov-radda-cries-out/

Well, they've been threatening to attack all Nigerians. You should buy a bulletproof SUV though.

fergie001:
NERC Sanctions Eleven (11) DisCos Over Non-Compliance with Capping of Estimated Bills for Unmetered Customers

Please tell me Ikeja Electric (IE) is among them. They should pay N5bn out of it!

Civetcat:
“Our food products are the cheapest around the neighbourhood,” Senator Kyari declared.

So produce more . This is exactly what the policy is supposed to do. More exports means more forex and the inability of farmers from neighbouring to compete on price . Kick this one out already

Have to be the two dumbest ministers ever. Pure market woman IQ when it comes to economic analysis. Smh.

viyon02:
Well, it sound reasonable though.

It sure does.

officialwdhtvv:
Check Out This Made-in-Benin City Bus

#wetindeyhappentv


https://www.youtube.com/watch?v=zBa_d9Oj7NI

This doesn't look anything home made. He has a factory/assembly line?

Hopium:
Lol... Those 4 by 4 kiosks at berger don't control enough volume to impact the exchange rate. How much volume dem dey move per day? Those ones are shrimps.

Many of them work for the big BDCs. If you take out the BDCs, they will leave their registered addresses but continue to do business through those street guys. Of course, the big people will know where to meet the BDC ogas at night.

BreconHills:
Not yet but they are converging rapidly. The problem is supply supply supply.

To be honest until Govt addresses inflation, no one will trust naira as a store of value. The large domestic USD holders don't trust the naira and these same people have access to FEC meeting notes.

It's bizarre.

Border should be opened post haste

Everything you've said. Oil dey your head.

femicyrus:
What is market forces?
Hoarding and reselling at higher rates?
Or you are paying school fee in Chicago from Nigeria and you are denied payment at the bank?
Or you want to import legit and the banks turn you back to BDC.
What is forcing you to get dollars?
Tell us if not for profit by hoarding and reselling

Hoarding and reselling is done by powerful people. It's the reason I've campaigned for rate unification for years. Let them have the courage to do it for once and let's know it's supply side issue only that we're worried about. (Yes, market forces!)

Oh, yes, legit importers get turned away from the banks because the banks don't have enough. You really don't know that?

What's forcing me to get dollars? So because you don't have genuine business that requires dollars, you think others don't? SMH.

femicyrus:
Say it in plain terms
"Economic pressure" is BDC profit making mechanism not mind the resultant consequences on the naira and the Nigerian economy

Wrong. You're blaming rashes while ignoring the Aids that is in the blood. BDCs have no "mechanism" for rates. Naira rates are determined by market forces.

Hopium:
Lol. What are you saying? When most of them are already closing shops. Lmaoo

Bdc won't be killed but the CBN will limit their influence on the exchange rate. FYI, they are now required to have $1m as capital. Fintechs are going to take big market shares from them.

BDCs, Fintechs, whatever, people will just want a place to trade currency at its true VALUE as long as there's a DUAL rate. I'd bet my bottom naira that BDCs will start becoming Fintechs.

Anyway, the joke is on you if you think those guys that stand on the road at Ojodu Berger or Allen need $1m or any amount to do business. It's called "black market" for a reason.

femicyrus:
The unification tinubu did last year, didn't you people bastardised it with further devaluation of the naira so as to continue your wicked profit making without sweat?

1. I'm not sure what's biting your bom bom, but I hope you get better soon.
2. I don't know what you mean "you", but it was the CBN that bastardized unification by halting the policy the day $ exchanged for N800. But I'm happy they're back on track now.
3. Nobody "devalued" the naira - that was caused by economic pressures on the currency - due to our chronic failure of governance, which continues today.
4. I have always supported unification and I continue to do so.

BreconHills:
Which rubbish rate?

They sometimes have better rates than street. The spread or arbitrage between both rates is very small. They knew what they are doing when they allowed NGN to fall.

Are the rates unified now? That's the only way this works.

BreconHills:
BDC will die. Their activities will be limited to airport and shopping malls as obtains abroad.

There's a right and wrong way to go about everything. The right way to kill BDCs is to truly unify rates. This new policy won't make a dent of BDCs. Bookmark this.

ivolt:
May be counterproductive in the long run unless the official and parallel rates
is stabilised.

Oyel dey your head!

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

Brilliant take.

PoliteActivist:
*Politeness*
Deceptive statistics.
Various regions have different types of yams. See below. The list provided here is for tropical yam. Which is why ALL the countries on the list are tropical countries

Ok. This explains a lot.

FreeStuffsNG:
We have always topped global yam production. Same for kolanut etc

Yes. But wait fes till China starts growing yams. I heard they're already growing cocoa.

Mordson:
Lovely family.

The best coach we've had since Clement Westerhof.

Oh, really.

khattab02:
It not!


Yes the government can't outrightly but they know what is the cause and what needed to be done. Again[b] they can determine if u are making too much gain or not[/b]. If they are sincere and honest they can even if it technical.

They can't. Prices are determined by market forces. Only thing government can do is bring back subsidies, which will reduce transport fares and thus reduce food prices. But this option is fraught with problems too.

Moyinoluwa35:
Film well scripted by the South Africa government

Lol. I guess anything is possible. Are you a soldier?

khattab02:
haba!


What the person bring to the court,was it good or bad??



Sometimes we too damn hard on individuals

It's frivolous. The government can't fix the prices of anything it doesn't produce.

SoNature:
I don't think Nigeria has a price regulatory board because I have never heard that in decades. Besides, there are lots of commodities we locally produce whose prices are skyrocketing. Example, garri, palm oil, beans, onions, tomatoes, etc.

But then, insecurity has contributed to what we go through today because farmers in the North pay fines to terrorists before farming. If you don't pay, they waste you. Despite that, foodstuff shouldn't be this expensive.

And it's high time government in the South started investing and promoting agriculture. Southern Nigeria also has arable soil. Our problem is that the government has refused to encourage mechanised agriculture because we depend on the north for feeding.

Oh, a board does exist alright. Yes, there's a lot the SGs can do to promote agriculture.

On bolded, those prices are regulated by market forces. Imagine you're at your shop selling a bag of beans for N10,000 and your market rep calls you to tell you that the price has just gone up to N10,800 because the rain that fell the previous day destroyed the road to Maiduguri and and truck drivers jacked up their fares. Will you continue to sell at 10k, knowing that if you do you won't be able to restock your shop?

khattab02:
What we are saying is a ceiling on the artificial gains and somewhat extortion.


This administration promised to have agricultural marketing boarding? Where is it?

What many state government should do is to buy many of these products from farmer and have them stocked. That way farmers have their money at hand and the government can have where the release the products to the market or have a board where u go and buy.



They just have to find a way around it.

Bolded is a good idea - if someone can make it work.

fergie001:
Hahaha
How does the FG intend to do it?
Hahaha, Allagoa started from the Bayelsa Judiciary before joining the FHC in 2004. He is from Nembe and is No 7 on the Seniority list.

He is a sound Judge Sha, and he has ruled... Who wan implement am, make e come?

Lol

In fairness to the judge, the suit was not opposed, so judge acted in accordance with the law - strictly speaking. It's the person that brought the suit that is mad.