₦airaland Forum

This is just in compliance with the new banking model (categorisation) to be operated in the country as from 2011. Many more banks especially the rescued ones will have to take regional banking licence since they require only N10billion capital base as oppossed to N25b for national or N50b for international licences.

However, CBN needs to revisit the model for regional banking otherwise, SE, NE and NW may not have any branch of a regional bank. According to the CBN condition, regional bank can only have branches in Abuja and maximum of 12 states in 2 contigous geo-political zones. Since most banks will want to maintain branch(es) in Lagos (in south-west), they can only open in South-South or North-Central as only these zones share boundaries with south west. Also opening branches in Lagos does not mean that the bank will find the rest of the south-western states economically viable, but they have no option than to spread to those states in order to comply with CBN model.

klas:
@otumfour

Very good tutorial there. I successfully did mine for SGS a few minutes before coming here and it followed exactly what you described. However the Glo internet connection is no longer working. What could have happened?

I noticed the following difference in my version results compared to yours though I dont know whether it matters.

Baseband version: I9000JXJPD
Kernel version: 2.6.32.9 root@SE-S606 #73
Build no: FROYO.JVJPF

The internet connection started working this evening on its own. I was thinking of taking it to Glo on monday morning before it miraculously came on.

@otumfour

Very good tutorial there. I successfully did mine for SGS a few minutes before coming here and it followed exactly what you described. However the Glo internet connection is no longer working. What could have happened?

I noticed the following difference in my version results compared to yours though I dont know whether it matters.

Baseband version: I9000JXJPD
Kernel version: 2.6.32.9 root@SE-S606 #73
Build no: FROYO.JVJPF

@otumfour

Very good tutorial there. I successfully did mine for SGS a few minutes before coming here and it followed exactly what you described. However the Glo internet connection is no longer working. What could have happened?

I noticed the following difference in my version results compared to yours though I dont know if yours is a SGS also or whether it even matters.

Baseband version: I9000JXJPD
Kernel version: 2.6.32.9 root@SE-S606 #73
Build no: FROYO.JVJPF

Has Akpabio never had heard of file copy before? Atiku did not make public appearance immediately after his endorsement. He only released a statement that 'he was humbled'. The press used a past picture of him when he was still in AC that they had in their archive since that was the apparently the nearest picture they could get of him jubilating

Speaker of the House of Representatives, Hon. Demeji Bankole has accused Ministries, Departments and Agencies of government of collecting N3 trillion, adding that investigations by the National Assembly have revealed that such money was collected without remitting same to the Federal Treasury.


Also, the Governor of Central Bank (CBN), Mallam Sanusi Lamido Sanusi has said the bulk of federal government spending ends at the door step of the National Assembly because according to him, 25 per cent of the federal government budget spending was always given to that arm of government alone.


Just as Speaker Bankole announced this in Benin, while delivering the 35/36th Convocation Lecture of the University of Benin titled, “The Challenges and Prospects of Transforming the Nigerian Democratic Polity”, the CBN Governor made the revelation while delivering the 8th Convocation Lecture of Igbinedion University, Okada with the topic: “Future Prospect of Nigeria Economy”.


According to the Speaker, the renewed commitment of the National Assembly to oversight activities as it relates to tracking and monitoring of budget implementation, has led to the recovery of over N750 billion unspent funds in two years.
“Before now, such discoveries and re-channeling of the unspent funds for the good people was unheard of,” Rt. Hon. Bankole said, adding that the National Assembly maintains that the rule of law, which is one of the tenets of democracy, must be followed.


Quoting the 2010 UNDP Human Development Index which ranked Nigeria 142 in the Low Human Development Category out of 169 countries surveyed globally, the Speaker observed that with a reservoir of highly talented and resourceful persons, Nigeria has no business being identified with nations on UNDP Low Human Development Category.

He therefore solicited for investment in education, saying that the nation stood to benefit from positive development of increased investment in education.


“It is a known fact that, without quality research which results in improvement in Science and Technological inventions, we cannot solve the multi-faceted problems of development currently starring Nigeria on the face the face”, he said.
Bankole, while disclosing that the electoral reforms of the National Assembly were targeted at greater transparency and credibility of elections, called on Nigerian youth to refuse to be used for electoral rigging and political violence by self serving politicians.
He advocated for a return to the practice of fiscal federalism as the basis for speedy development of the country, pointing out that a situation where Councils and some States become actively only after they return from the Federation Accounts Allocation Committee meeting in Abuja was not sustainable.


Bankole therefore, called for all hands to be on deck, saying that the current efforts of President Goodluck Jonathan, especially in the areas of Power supply, critical infrastructure and electoral reforms have combined to commence the process of laying a solid foundation for sustainable national development.
On his part, Mallam Sanusi said that in an economy that is monolithic and import dependence that is susceptible to shock either through global oil prices or the activities of militants in the Niger Delta, such huge spending on one arm of government was unnecessary.


He described Nigeria as a country that imports what it produces and exports what it does not have.
According to him, “Nigeria is the sixth world producer of crude oil, 8th in natural gas, but imports petroleum products; Nigeria finds it difficult to get the tenets of democracy but exported democracy to Liberia; it is a country that finds it difficult to generate 4,000 MWT of electricity, but exports power to Niger Republic; it is the world’s number one in terms of cassava production, but no starch and ethanol industry that can create jobs to engage its teaming graduates”.


The CBN boss opined that because such structural deficiency and policy problem, government finds it difficult to create job, adding “the problem in the country is not about knowing the solution to the problems, but because the solutions is not in the interest of a small group of people who always want to hold the country to ransom”.


He noted that if Nigeria desire to develop it must get its policies right, break away from the past (dictates of foreign powers), encourage the establishment of private refineries and focus on reform.
“The major reason why Asian economy is advancing while that of Nigeria and most African countries retrogress is that whereas Asian Countries say no to IMF loan and its conditionality, Nigeria and other African Countries are saying yes”, Sanusi said.

http://www.thisdayonline.com/


U be thief , I no be thief

I dont understand. Is the bribe for immigration N3,000 or $3,000 (equivalent of N460,000)? If N3k, then one can say it is just goddy-goddy tip? but $3k!!! when you are not number one on no-fly list.

Out of what are you supposed to pay anyway? The PTA (Personal Travelling Allowance) not BTA as some are refering to it here has a limit of $4,000 per quarter. That means you are supposed to travel on non-business visit at offical exchange rate maximum 4 times a year.

BTA (Business Travel allowance) can only be got on application by a corporate organisation and this also has a limit of $5,000 per quarter in a year.

^^^ after reading your rantings, I can easilly see you lack knowledge of interpreting economic data.

South africa does need as much foreign reserve as nigeria, it is a manufacturing nation. Most of its imports are raw materials for processing and value addition. Suppliers are ready to supply on credit to such economy since they are sure of settlement once the recipients produce and sell the goods. Nigeria is a nono product dependent nation for forex and it is a consuming nation unlike south africa that produce a significant percentage of its needs and even export. That is why foreign suppliers to nigeria insist on irrevocable letter of credit which essentially means that all imports must be cash-backed and that is through your foreign reserve. Industrial nations including South Africa use what is called open account. no cash backing and the transaction is purely between the two contracting parties not like Nigeria that government must indirectly back such with its reserve.

Do you know why nigerian govt always interpret the quantum of our foreign reserve in terms of the number of months' imports it can cover? Have you heard of such from US or even South Africa. it is because of the above scenario.

Lastly, from the statistics on our foreign reserve, oil prices and oil production I provided earlier, have you asked yourself, why should the foreign reserve be going down when oil prices and production are going up? You drawdown on your savings when you have shortfall in income. Is this the situation we have in nigeria now? surely not.

hedoyad:
Do you have figures ? I take it you don't even know what the federal reserve reads right now from your response. And incase you've not been watching the news, not only the Nigerian govt is impressed with the economy but even the IMF and World bank too. A thieving illiterate comes out to say the federal reserves are dangerously low without even knowing what he means.

Dont be ignorant my friend. So foreign reserve now need spy technology to know. If you dont know. just ask with decorum. For your info nigeria foreign reserve on 22/11/2010 was $33.9billion. It is always on the homepage of central bank website under economic indicators. ok

For further information, below is the movement in reserve, our bonny oil prices for the same period (in bracket) and our oil production (in blue)
20/1/09 $50.9billion, ($44.95), (1.75mbd)
14/10/09 $44.1billion, ($78.25), (1.96mbd)
04/01/10 $42.3billion, ($77.62), (1.9mbd)
22/11/10 $33.9billion, ($83.9), (2.23mbd)

Now make your inference

As for brentwood institutions being impressed with Nigerian economy, I laughed in foreign language. They were impressed with SAP too. They were impressed with your economy in late 1970s and encourage you to borrow because according to them, you 'underborrow'. The same term their lackeys - Aganga and DMO boss are using now.

A developing country that is entrying their economic noose will always be the poster-boy of IMF and WB

Let us leave Atiku for now and address what aganga said. The Fed govt achieved 100% on recurrent expenditure. Recurrent exps are salaries of govt workers and overheads i.e  day to day expenses of running the govt. Nothing developmental there.

he is thinking of achieving  N900b in capital expenditure before the end of year. why did he not state what percentage that represent and in other news, he  listed INEC funding, N200b to be paid to NEPA staff as legacy issue which the govt addressed. Since these are not recurrent, then they form part of the capital expenditure. What is development here.

Are these regular budgeted expenses the reason why we emptied the excess crude reserve and massively drew down on foreign reserve?

Aganga response reminds one of Shagari response to Awolowo's alarm on the state of the economy in 1981. less than a year later, reality struck and we are still suffering the effect 30 years later.

Contrary to their advert you cannot used it yet online. I tried it with google checkout, it was rejected but I used their dollar mastercard which went through one time. I contacted their GT connect yesterday on their claim on naira card and was told it would be up by month-end. They asked me to request for activation code thru internet banking portal which i tried to do but could not enter the card number. Apparently they are still developing the product. I dont actually need it since I have their dollar version but I will test their claim on ability to use it on ATMs abroad next time I travel

Yes. Nigeria ATMs are EMV-compliant. EMV = Euromoney Master Visa Consortium.
It will be in naira though at the official exchange rates
I learnt First Bank has foreign currency ATMs where you can withdraw in foreign currencies but they are not widely deployed

Purist:
If they really care about security, they should just install cell phone jamming devices in their banking halls, rather than stupidly harrass customers.

It will also jam the staff's cell phones as well. How then will official communication be made?

Ghana is not a shining light in anything. Many of u people in Nigeria exaggerate everything about Ghana.

Firstly, we do not have reliable electricity. Most Ghanaians do not own generators simply because we cannot afford it. I live in Accra and there is serious power outrage in most parts of Accra since 2 days now (DOME-KWABENYA-LAPAZ & SCHIMOTA). We enjoy more hours of electricity but our electricity is NOT RELIABLE.

Ghana is not safe as most Nigerians claim. Most white people shun Ghana and much of Africa because of safety. Are you aware that Ghana has over 7,000 refugees in Togo alone? There is serious crisis in Northern part of this country. In my opinion safe countries do not have refugees in other countries, 

Most cities in Nigeria has better road network than Ghana. Accra does not have good road network like Lagos and Abuja.

Ghana does not have good educational system. Most rich Ghanaians send their children to Asia, Europe and America to study. Our educational standard has fallen dramatically. If Ghana has good schools as most of you claim why are we not producing world class scientists? Anytime i check the list of Africas greatest scientists i see a lot of Nigerians but i never see a single Ghanaian?

Why are we not producing world class actors/actresses like Nigeria?

I have heard some Nigerians manufacturing cars and computers, why is there no Ghanaian that can even manufacture wheel barrow? How come over 75% of books used in all Ghanaian schools are written by Nigerian authors? If we have good schools we should be producing great authors like Chinua Achebe??

Ghana is the second largest producer of cocoa in the world, producing over 20% of the world’s cocoa beans. The western African country is also the second largest producer of gold (its former name was Gold Coast) and has huge deposits of industrial diamonds and bauxite (aluminum). Ghana, after 53 years of independence, still has about 4,000 basic schools organized under trees, 5,000 in dilapidated structures, and 7,500 without sanitary facilities.

If you dont know, over 60% of Ghanains poo out doors because of lack of toilet (POVERTY), 55% of Ghanaians are illiterates. In my opinion, no country in West Africa is worthy to be praised, 

http://www.businessdayonline.com/NG/index.php?option=com_content&view=article&id=16106:ghana-is-not-better-than-nigeria-at-all&catid=144:unsorted-comments&Itemid=562

For those who are conversant with the nooks and cranies of Ghana, Is this a fair representation?

We should ask the lawyers. Frankly I fail to see  the relationship between taking pictures (whether of police or not) and idleness + disorderliness

This is what section 249d of Criminal Code says

d) every person who, in any public place, conducts himself in a manner likely to cause a breach of the peace, shall be deemed idle and disorderly persons, and may be arrested without warrant, and shall be guilty of a simple offence, and shall be liable to imprisonment for one month.

Wow 700! You passed me by 1. Not bad. Cassano(va). Not bad.

Buzman:
Another fresh complaint by a GTB customer.

Ephraimi (m)
Nigeria
Posts: 20

Offline

N100 Monthly Atm Fee?
« on: September 13, 2010, 04:15 PM »

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I was so angry this morning when I discovered that there were some deductions on my saving a/c wit Ecobank. Upon enquiry I made 2 undastand dat it's their policy 2 charge ATM card owners N100/mnth whether u use it or not. They charge N50 again on their ATM. They charge WAN of N210 instead of d N200 I knew b4. + sms alert(even when they're informing u about their products). Pls do u hav d same experience wit oda banks? Lets share.

Report to moderator Logged

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The customer complained about ecobank not GTB

I am a customer not a bank staff but frankly I cannot understand what some are complaining about as regard charges. is there any bank issuing atm card for free? I bank with 6 banks, all charge. The $20 mastercard fee and $30 annual maintainance fee are for dom account holder. I have 3 from different banks including visa dollar card and they charge the same so i think it is general practice or do we expect everything for free?

Have we also noticed the benefit of using visa naira card from one bank on another bank's atm?  The usual N100 per transaction does not apply, may be that is what the maintainance fee is all about.

Your office is right. It is not a matter of labour laws or federal constitution. The law that guide your taxes as an employee is Personal Income Tax Act (PITA) as applicable in your place of work/principal residence. PITA requires that all incomes including 'upfront payments' are taxable subject to some claimable reliefs. The only receipt from your office that is not taxable is reimbursement of expenses that you specifically incurred eg travelling expenses but note that your transport allowance that is included in your salary will be taxed

honeyfave:
Tashi: What you've won, $200 000, is much bigger than any other season, or reality show.
Uti: Yes, it's great.

What does the bolded mean? How much did Kevin win last year?

@Ambber

I think that is the most diplomatic thing for him to say about sheila at this moment. He could not have been publicly judgemental about her conduct when he apparently did not even know the extent. Let him settle down first, talk things over, look at it from outside not from the compartmentalised angle of the house or pressmen, then he can make good decision

The face of a loser

Now that euphoria of victory has cleared off a bit, let us begin post mortem analysis. The first thing that came to my mind is the conduct of IK and his predilection to stumble at critical moment.

Last year, he chipped off the well deserved victory of Kevin when he unnecessarily brought in Kevin’s name in clarifying the second and third position placing between Eddy & Mzamo. Haters latched on that to say it was Eddy that should have been announced as the winner.

This year, for whatever reason best known to him and even before opening the envelope given to him by Alexander Forbes, he announced the result (but not the name of the winner) by saying this year’s result was the closest ever in the history of BBA because the result was 8 to 7 countries. First of all, he was not supposed to know the result before opening or what is the whole drama of asking Forbes to present envelopes all about. Secondly, If 8 to 7 is closest, what do we call Ricco and Hazel final when they each got 6 votes in countries count and number of individual votes had to be used to determine the winner?

IK appeared to have soft spot for Munya all along and was probably disappointed at the result. Uti won fair and square. Period.

More questions:

Let us rewind back to the OCT 1 bombings. Few metres from where our President, foreign heads of state, nigerians and foreigners were "celebrating", the 1st bomb  goes off; followed minutes later by the second; fatalities followed.

In hearing all those bangs, what gave the presidents security details the courage to advise the President to continue with the occasion? For crying aloud, this was a serious security breach, and yet the occassion continued.

How were they sure that there wasn't more bombs ready to explode somewhere else even closer to our dear President?
Would one be nuts to assume they(the security details on ground) knew the number of bangs they were expecting?

Another angle: Is IBB too large a factor that GEJ is not sure of defeating the evil genuis at the poll, hence a frame up of his campaign structure or self?
I just dey wonder
. Too many questions , no answer

Regarding the bolded part, they did not know if there were more explosions to come. If you watched , you would have observed that protocol was actually broken because as soon as the military marched past the presidential dais, announcement was persistently made on public address system for the parade commander to come back and request the reviewing officer i.e. the president to step down even before the marching troops came to a halt. The president was esconsed in the bullet-proof VIP stand while the paramilitary - customs, immigration, etc and school children marched past an empty presidential dais. The president only came out towards the end of the ceremony for the reviewing order and to release pigeons

The Security Chief reportedly begged his lieutenants to allow him get a day’s Visitor's Pass for Chief Obasanjo to enable him see whoever he wanted to visit within the United Nations building, though he told the former Army General that none of his aides would be allowed to go into the building with him.

Why are people taking this thrash north-based newspaper called Leadership so serious or is it because it decided to use obj for this junk reporting. It is apparently in love with the word 'beg'. It even reported that  the security chief begged his surbordinates. Can that happen in security service setting? the report said earlier that the security men told him that his tenure as un envoy had expired yet later it reported that it was the security chief that identified obj to them? What a contradiction. By the way, what was the unidentified reporter doing at the un gate for the whole of 15 or so minutes without being accosted by the security men or were all of them engaged in the fabled obj blocking?

BENGHAZI, Libya — In the outskirts of this city, Libya's second largest, row after row of sand-colored concrete apartment blocks and villas are sprouting from the desert. Hundreds of kilometers away, construction cranes dot the Mediterranean skyline of the capital, Tripoli.

The multibillion dollar construction frenzy taking place is the latest and most visible sign of Libya's drive for growth. It's a push that largely ignored the global financial meltdown that left other oil-rich Arab nations stumbling over the last couple of years, and reflects how Libya is tapping its oil wealth to reshape a country isolated for years by sanctions and international disdain.

Libya is "really trying to become, for lack of a better term, a new Dubai." said Carlos Caceres, a representative of the Los Angeles-based engineering giant AECOM working in Benghazi. He was referring to the United Arab Emirate sheikdom whose stratospheric rise was rivaled only by its staggering debt woes.
AECOM is overseeing a $80 billion project to build 160,000 housing units throughout the country, about a quarter of which will be in Benghazi, and refurbishing sewage and paving roads there. Overall, however, Libya plans to spend $500 billion over the next decade on a host of projects.

New universities are being planned, Tripoli's shabby airport is being overhauled, new Toyota and Honda sedans abound in the streets and trendy cafes dot street corners.

The International Monetary Fund forecasts Libya's economy will grow by 5.4 percent this year, while the U.N. said foreign direct investment into the country quadrupled from $1 billion in 2005 to $4.1 billion in 2008.

"It's absolutely the boom country at the moment," said Richard Barber, a British supervisor with HanmiParsons, a South Korea-based construction management company. "So many engineers from Dubai and the rest of the Mideast are coming here now and finding work, including me."
The country's surge sits in stark contrast to the Libya of just over decade ago, when it was struggling under international and U.S. sanctions linked to Libyan leader Muammar Gadhafi's support for terrorism and the country's weapons of mass destruction program.

Gadhafi's decision to renounce terrorism, hand over the two suspects wanted for the 1988 airline bombing over Lockerbie, Scotland, and pay compensation to the families of the 270 people killed in the attack paved the way for Libya's re-entry into the international community. The U.S. restored relations and reopened its embassy, American and European oil firms have flocked to the country, home to Africa's largest proven oil reserves.


http://www.huffingtonpost.com/2010/08/27/libya-the-new-dubai_n_696909.html

The "mad man" (apology to David Mark) at least has focus and vision. May be Nigeria also need a 'mad' leader for us to achieve 6,000mw of electricity after 11 years of chasing the dream and shifting goal post

I sent my card number to 30333 on 4th July and they replied immediately that my request had been registered but channel 198 was not showing. When I went to renew my subscription for the quarter on 12th July, I requested orally without filling any form and they promised to activate it. I started receiving channel 198 on 14th July. I am not sure which one they processed - my text or verbal request?

If you send text and you are not activated, call them on 0803 900 3788 or go to their office or a super-dealer

dominique:
@klas
are you saying we can't text the smart card number after July 17th?

I dont know. I only copied verbatim what Mnet put out. That is why I put the link. You may contact them.

So how do you get to watch Africa’s biggest reality TV show? Simply text “Yes” plus the first 10 digits of your smartcard number to 30333 before Sunday 18th July to subscribe for the programme (for DStv Premium and DStv Compact subscribers only).

One huge technological change this season is that DStv Channel 198 will feature two television feeds so audiences can choose to move from one BIG BROTHER feed to another. At any one time there will be two streams of video and audio coming out of the house and you can simply pick the one that they wish to watch using your remote control.

http://www.facebook.com/notes/dstv-nigeria/what-will-you-be-watching-after-the-world-cup-ends/410344564755