₦airaland Forum

y3mi:
The thread is littered with so much childish comments I almost wanted to exit till I saw yours. It indicate the low calibre of kids with no sense of decorum, hygiene and self-standard swarming Nairaland. Imagine one kiddo saying he doesn't know it's a wrong habit to squeeze paste from the middle. Tells a lot about today's generation. Hence I always say Africans just copied westernism in a warped form. They call me afinju whenni was a kid just so you know how intolerant of uncleanness I was to a chronic level, those who knows what afinju means would understand how afinju just can't stand the tiniest of dirt, not to take of filth. We don't get comfortable and can't proceed well with an activity unless we sweep that floor several times, clean that dirt of the table before I can touch the mouse. I remember when living in an area filled with red muddied sand that I always washed the white sole of my converse sneakers so much every time that folks I didn't know where noticing it and one day gave compliment that they have never seen me with a dirtied shoe, I naturally sweat a lot so I sometimes pull off as when the discomfort gets unbearable, one day a woman joked at me that I wouldn't have done that if my white boxer was dirty. Impying I was showing off. I gave her a cynical look that suggests she is not to be blamed na, she's so much used with males with dirty boxers.

The only moment I can be found smeared with dirts and dusts is when the hustle or grind demands it like an oil-rig worker getting his hands soiled just to earn that mullah.

Personally I will judge you personal hygiene by my own standards. Privately, I can't tolerate egbin and I don't need no Whiteman to tell me cleanliness is next to godliness.

Ps
All the guys needlessly attacking the females here are suffering from deep seated insecurity. Like WTF are you hypocrites concerning yourselves with their sexuality or matrimonial desire. Stay on the topic by sharing your view or JGTFO!

I have not read something quite long and enjoyed it in a while. Well said

Portable don go buy Habbyfx house.
Alaye, that place go contain all your wifes and kids!?

Is the Rwandan people happy to let their land be home to deportees who could potentially be criminals.

Why not the UK government send them back to their home countries if you can't accommodate them?

Something is not right here

Welcome to the land of hardworking and welcoming people. You will love it here

jeejo:
I understand that what I am about to explain will earn me insults from a selected few individuals because the same culprits are active here on Nairaland, so I am ready for that as well.

If you go to Binance P2P, there is a heavy manipulation going on there, and from my deductions, most of the big Binance P2P Merchants are united in carrying out this manipulation. Some of them even have over 2 Million dollars worth of USDT in their Binance P2P Funding which begs the question whether these people are truly Nigerians or probably foreigners making money from destroying the Nigerian economy.

Many people might not understand the strategy these merchants use, therefore, I will try to break it down.

This is how the manipulation works:

1. Lets assume that the Naira to Dollar is currently exchanging at the Parallel market for 1,500 Naira. On Binance P2P, the group of Merchants will create multiple fake ads claiming that they will buy your USDT for 1,700 Naira(way above the parallel market price). I call these ads "fake" because they will set a minimum limit above 5Million naira, which means if you want to sell your USDT to them at this exorbitant rate that they created, you must be selling a usdt value worth over 5Million Naira at once. This strategy works in filtering out majority of average Nigerians that want to sell their USDT to these Merchants. Meaning these fake ads will remain at the top of the p2p "sell" section for as long as these group of Merchants want it to remain. And if by chance someone who has enough USDT to meet the minimum limit decides to sell to these merchants, they will simply cancel the trade, and create another ad.

2. Now because these group of merchants have filled the P2P "sell" section with these fake ads claiming to buy your USDT at an exorbitant rate of 1,700 NGN, they have automatically shifted the P2P price of Naira to USD to 1,700 Naira, and now they will be selling their USDT to the public under the "buy" section above 1,700 Naira. Now - unlike the fake ads they created with a minimum limit that is above 5Million Naira to discourage sellers for selling to them at this high rate - when they are selling their USDT at this already manipulated price, you will find limit as low as 4,000 Naira because they want to sell to the Public at the exorbitant price they created.

Binance P2P is the new AbokiFx where BDC operators get their current price of Dollar from. The fake price originating from there is in turn used by the BDC operators to set their Dollar selling prices even without any corresponding demand. But the interesting part is that these BDC operators won't buy from you at any rate close to the exorbitant price they are selling the dollar to you.
Here in Benin city, even though the parallel market price of Naira is above 1,600 Naira, the Abokis hardly buy your dollar for above 1,500 Naira but they will sell to you only above 1,700 Naira.

Some people might argue that if Binance is to blame, how come the official exchange rate is now above 1,500NGN to 1 USD? The answer to that is simple. Each time the rate in the Parallel market moves up, the CBN is forced to also adjust official rates upwards in order to close the gap between both windows or else the black market rate will be too wide that it will create an irresistible opportunity for round-tripping.

There is a huge rot in the entire BDC system in Nigeria that I don't think this CBN governor has any idea how deep it really goes.


Update: It appears the Nairaland moderators in business section do not like this post because they banned my alternate Moniker for 4 days after making this post there.

Solid analysis 👌

immortalcrown:
Did you do basic Economics in secondary school? Cost of living is not higher in those countries because cost of living is measured in relation to per capita income. What is the wage per hour in those countries? Minimum wage in Nigeria is ₦30,000 per month, which is less than ₦145 per hour. Do you earn as low as this per hour in those countries? You are quick to say that ₦1,500 can get breakfast and lunch in Nigeria. But are you aware that it takes more than 10 hours to make that amount based on 30k as the minimum wage in Nigeria? So, how many hours will you work in a day in Nigeria to afford the third meal (dinner) for the same day and to settle other daily expenses?

Your comparison is wrong. Explain why a Nigerian who works as a driver in those countries affords the high cost of living in those countries and still affords to buy land and build houses in Nigeria but university lecturers in Nigeria struggle to pay rents in the same Nigeria. Many lecturers in America enjoy higher standards of living than lecturers in Nigeria. Many pensioners in Nigeria slump while struggling to get their pensions. Does it happen that way in those countries? A soldier's salary in Nigeria can't transport him to his village and back to his duty post within the same Nigeria. Does it happen in those countries? Explain these situations if you think your comparison is right. Have you also looked at the balance of payments in those countries and the countries' foreign reserves? Compare them to Nigeria's balance of payment and Nigeria's foreign reserve.

The countries you compare to Nigeria import almost every raw material they use in production. Nigeria has almost every raw material. Why can't Nigeria process the raw materials in Nigeria, make the finished products cheap for Nigerians and also export the finished products? Those other countries import raw materials from Nigeria and export the finished goods to the same Nigeria but you are too blind to understand the situation. The cost of living you praise in Nigeria is mediocrity. Cost of living can be way cheaper in Nigeria if Nigeria is as prudent as the countries you compare to Nigeria.

Don't compare countries that are not equal in terms of natural resources and population. Your logic is like using the price of cement in countries that import cement to justify the price of cement in Nigeria that is naturally blessed with cement. Nigeria has cement and the cement is this costly. Imagine what will happen if Nigeria doesn't have cement.

It is this your logic that some people used to justify increase in fuel price during Buhari's regime. Those people just said fuel was costlier in many other countries. But they didn't explain if those other countries export crude oil like Nigeria. Nigeria has crude oil and fuel is this costly. Imagine what will happen if Nigeria doesn't have fuel.

Even if cost of living is higher in those countries, have you considered lower availability of natural resources in those countries? Yet, those countries manage to build better roads, better hospitals and better schools for you. The leaders of those countries do not waste or embezzle their resources as much as Nigerian leaders do.

But in Nigeria, there are more natural resources, no good roads, not many good schools and not many good hospitals. Imagine what the cost of living in Nigeria will be if Nigeria doesn't have much natural resources and if Nigeria has good raods and steady power supply. Nigerian leaders waste or embezzle Nigerian resources.

In conclusion, Nigeria is worse than those countries. No good roads, steady electricity and water, but house rent is very high.

Well said. Stay in class, they are busy chasing girls. Common sense is not common anymore.

Mr X indeed. Follow the money. Real Estate, No?

Rip to the dead.

RaymondHarmony:
Who Is The Real Mother Of The Child: Can You Guess Under 5 Seconds ?

2 is the mother. The heels gave it away.

justtoodark:
is this sometype of dont touch my anointed stuffs....

Nah. Not me. I touch everybody wey I sure say don cast.

justtoodark:
you cant believe he was capable to such a thing....??
you cant believe bill cosby was capable to such things....??

human beings go shock you alot....
they are capable to the most crazy things....

I have my fair share of what human beings are capable of but I try not to judge especially one that can't defend himself.
The one thing I have come to understand however is that, there is always money involved when stuff like this starts to stirr.

Peace to victims of any form of Abuse. You deserve better.

Follow the money.
I wonder which financial entity is trying so hard to make the late TB Joshua look real bad.

Its sad how most companies in Nigeria have no regards for consumer rights. Even if you win $9mil in las vegas, you will get your winnings.
This your case is interesting. Get a copy of Bet9ja T&C for reference.
*Say no to gambling*
May the odds be in your favour.

Xiaomi, the world's third-largest smartphone company, has launched its first vehicle, the SU7, a sleek electric sedan. In lab testing, the Xiaomi SU7 claimed up to 800km of driving range and a 0-100km/h acceleration time of 2.78 seconds, thanks to its electric motors named after petrol engines.

Prices have yet to be announced, but Xiaomi CEO Lei Jun advised visitors at the automobile's Chinese debut to "show some respect for the technology behind the car."

Will you be buying this when they start exporting from next year 2024?

sniperr007:
And bench who?

Sub with Jesus. Nketiah can go on loan

PROPHETmichael:
No thanks! We don't need a one season wonder.

Is he tho. Boy is still lethal

Well deserved!

Come to Arsenal.

PedoBear:
Bunch of c0cksuckers


Too afraid to step out of their Stoopid uniform and fight

Alaye, they have oppressed you abi!

How is it going with the BTC and ETH brother. Listen to OG, una no gree.

I believe CBN will try to keep it just below 1000. Sentimental price. Come next year, Naira will definitely appreciate. OP, your best bet right now is to buy BTC or ETH.
Goodluck

Thonyb:
https://.ng/2023/11/04/lagos-court-issues-bench-warrant-for-arrest-of-ibeto/

The law only respect Tinubu and his cohorts apparently.

Will it be added to already existing salary or its part of their salary?

Naira marley and his goons needs to be checked.

RIP Mohbad

You no add, "they can see spirit ". Lol

Nigerian men no dey fail to dissappoint.
OP point out alot of red flags and most replies are focusing on the toothpaste and body count.
As a guy, if you are not organise and hygienic, you never ready date proper not to talk of marriage. Nne don't lower your standards because you want to be with a man.

Develop fire. Go airport and create problems make we see. Growing up, i had one in my street that claimed to be a math professor. Always with pen and paper writing formulas.

Mental health is real.

Labour law experts, abeg tell us if the workers placed on compulsory leave without pay are entitled to some kind of compensation.

Fish been healthier than meat is subjective.

I didn't know whole cow was this cheap. Smart move OP.

It took them over 6 years to confirm the video? Immunity or not, he should have been impeached and imprisoned.

Like someone rightly said, "nothing will still happen".

Welcome to Nigeria!!

Magixx better

thisisit:
DUCK HAS NO COMMERCIAL OR NUTRITIONAL VALUE...

IT HAS ONLY SPIRITUAL VALUE..
SOME SAY ITS AN EVIL BIRD
HAWK DOESN'T PREY ON IT

PLEASE GO FOR PIG.. BUSINESS
NOT DUCK SPIRITUAL BUSYNESS

Ignorance no go kee my people.
Duck is an excellent source of protein and healthy fat and its a very sought after meat in Western world.

Kudos to your new venture Op.