₦airaland Forum

[size=16pt]WHY NOT GOD OF NAIRA, at least if god blesses you in 10, 100, 1000s,1000000s of naira you are better than a lot of people that have a few dollars in their pocket. He should speak the people's language, the market woman does not no dollar but tell them multiple nairas dey rain for that church, it would have even a greater impact.[size=16pt][/size]

ALL NIGERIANS PAST LEADERS EXCEPT PROBABLY SHAGARI & GOWON ARE PROBABLY RICHER THAN DANGOTE. They not fit talk wen den get there money from. In one of Abacha's account $500.00million dollars was returned to the fedral account. If Mike Adenuga can be on the list, u tin say in God -father no get pass am (OBJ),. Having said that Dangote is a man that have never been in goverment, and i dont see anything wrong with how he made his money, we all know he as a very good patronage of the goverment of the day. It happens abroad too, Abromovich bought a company that is worth $2 billion dollars for $180 million dollars, thats how he became the richest man in britain. Dangote is more than welcome to buy a premiership team too that would increase his profile world-wide, and it will also increase Nigeria's profile.

If you are into accumulator, this are the likely good ones

Liverpool Vs Derby - Reds win

Rangers vs Gretna - Rangers win

Man utd vs Sunderland - M u wins

Arsnal vs Porstmouth - arsnal win, or Bayen munich match, or chelsea match either any of these.

St mirrean Vs Celtic - Celtic wins

@ KnowAll
Wats your view on the following matches:

Aston Villa v Chelsea

Reading v West Ham

Fulham v Tottenham

Hamburg v Bayern

Villarreal v Real Madrid

reading vs west ham na tete be that, kalokalo, can go either way i will not touch it with a berge pole, if i will bet it will not be more than £2.00, Chelsea, if they really want to win the league they should start getting some away win under their belt, i will go 4 chelsea.

i dont know how strong hamburg is its still early days, but little amount on bayern should be ok, but i am always against away matches, at the same token, if they heading for the top in in the budesleague, they should start winning some away matches. Real Madrid are not too good on their travels, the best bet so far will be tottenham, they need to produce otherwise the manager is a goner. Not with Luton town beating Sunderland 3- 0 midweek.

England need to field there best 11, if they continue to have a policy that a micheal owen with one leg is better than people like jermaine defoe who is fit, then they will have a longggg wait b4 they win anything.

[quote: boy steve]I told you guys i want to know how to bet, u ask if i have d liver i told u i have d kidney also, then how do i bet is this how u accomodate people on this thread ebad ohhh, oya make una teach me, lets go.[quote][/quote]Is it possible for you to register with william hill on line, if it is possible go to there web-site and register they require a debit card. There must be a way for people in nija to register, i will call william hill & ask them.

i watched Liverpool mid-week and that team will destroy any small team, and they are even at home. Anfeild is not a place for small teams to come oh, even last week I backed them against sunderland, I was a bit scared but they did not disappoint, that was an away match.

I started my personal account with £100.00, but now I have £350.00, I want to do something dearing this weekend, putting all my money on Liverpool beating derby at 15:00 on saturday, so if I lose make na know say one dead body dey for somewhere in london. If I am successful, I will make £70.00, that £70 pounds will go to either the Man utd vs Sunderland match at 17:00 on saturday evening. If successful the £70.00 plus any jara will go on the arsnal vs portsmouth on sunday or the Celtic vs st mirren on sunday. Thats a tip for you guys lets make some money. good luck everybody. I should think there are some other matches at 19:00 on sunday evening, I will go for the Fernanbache away match to one of their local team. Lets hope by the end of the weekend one could have made £100.00, so lets have some fun.

There is a bit of logic to it too, for instance the liverpool and Arsnal matches professional soccer fund managers like myself will not put money, both clubs where already 70% to qualify so need to bet. But I did because the £200.00 I staked is not my, its my previous winnings so I can afford to lose it.

The money involved in the betting here is personal money as supposed to my clients, I will not risk my clients money.[size=14pt][/size]

me I am a small boy, there is big money on all the blue chip clubs on a weekly basis. Peopel like me putting £200.00 on a match, there are people out there putting £10,000.00 per match for them to make £2000.00, u lose sometime, but u win most times thats the big secreat behind investing in soccer. There is a bit of logic to it too, for instance the liverpool and Arsnal matches professional soccer fund managers like myself will not put money, both clubs where already 70% to qualify so need to bet. But I did becos the £200.00 I staked is not my, its my previous winnings so I can afford to lose it.

@ VIERA: That match could so easily have been a draw!

You should be prepared to lose the money your staking, the way I view betting on football, its like putting your money on blue chip stock, Blue chip stocks they grow. There some clubs they are blue chips clubs, that big sercet behind making money in football. I will give you your example, whenever this clubs play at home, and I empahsis at home put any money on them you get your money back plus extra. Holland - Ajax, Turkey - Galataaray & Fernebache, Scotland - Rangers and Celtic, Chelsea at home, Olympicos at home, Barcelona at home, AC milan at home, everyweekend there is always a few of them that back big time and get my money back. If I had put £1000.00 on arsnal last night i would have got £250.00 back. I did not want to put money on arsnal becos all they needed to qualify was a draw. But I said to myself, taking risk is the only way u make money. So this weekend I am looking to make a few bob, Saturday - Rangers vs Gretna, u will get your money back, Ajax VS Gronningen, Olympicos VS OFI CRTE, low bets premirship Man utd VS Sunderland - a bit tricky becos the big guns are not playing, Liverpool should kill DERBY that will be high bet. Dark horse, I always have a dark horse bet on Totttenham winning away. All top Managers earn their money from home performance not away perfromance if a team like Man utd lose 6 matches at a trot at home Alex Ferguson would be sacked no matter what he has archeived.

made £50.00 yesterday on arsnal's win, betting is not for the faint hearted oh, can you imagine putting £200.00 to make only £50.00. But i make around £150.00 a week on guranteed win matches.

it will be difficult to date a nairalander, most of the girls spend too much time on the web chatting, when are you going to give your bobos the attention they crave. I once dated a girl I met on the net, it went on fine, but when there is small quanta, she would go on-line chatting to people, I finally broke up with her, and said I will never date anybody I met on-line. Not all are bad, but me I had my fingers burnt once, so nagode, no mars- "roberto duran".

Abromovich just wan trip in new babe, they were together watching the portsmouth game, u know how babes de shack guys when they are new, the match was boring, and abromovich wants more flare in chelsea matches. Obviously Ronaldino is the magician or talisman, he creates excitment whenever the ball is in his legs.

you can make money steadily betting correctly, out 12 bets this weekend for me 9 was correct. you should widen your scope cover all over europe and your predictions will always be right.

[octupus]I think lesser mortals should humbly listen carefully before commenting or acting[quote][/quote]does that lesser mortals include the president of the country.

i think england were unlucky in there last match, the 2nd german goal came from a shot, no keeper will catch that kind shot, na chance shot, u guys dont forget that england beat germany 5 - 1, not too long ago.

you are millionnaire when your standard of living is not compromised no matter where you are in the worrld. The way you live in Nigeria, is the same way you live in any country you visit in the whole wide world. Whether you are in New york, london, hong kong you do not lower your standard.

[QUOTE:FLEXAY -W[b]e must commend Yar'Adua for feeling the pulse of Nigerians. Thats truly a servant leader.[/b][quote][/QUOTE]

Northern elders and rulers were against the redenomination, the day after it was annouce they met up with yardua expressing their fears and feelings. What did we get 1 week after the annocement - redenomination suspended. I have a feeling those malos changing money might be affected by this redenomination exercise, and that will mean a lot of them will be out of a job if $1 is N1.25, you probably we be better of changing it in the banks.

The man soludo might have poltical ambitions. It is a fact that nobody has ever run for president from the south east successeful. He might be the massiah the SE has been waiting for. If this goverment rejects the re-denomination outright without improving other sectors of the economy like roads, electricity, & jobs, soludo may end up becoming a hero in the next electoral dispensation.

[quote:BlackMamba]People like you wonder why the federal government haven't orders CBN to print more money.[quote][/quote]"look man the whole world knows if u print more it will lead to inflation, so what kind of statement are you making here, even a primary school kids know this. If you have a Central bank governor who does not know it is dis-courteous and undiplomatic of him to announce such a momentous agenda without seeking the consent of his president, then obviously his not fit for the job. Been in high position is not all about make u sabi book. I am sure when the ghanians did there own re-denmination, their president was not kept in the dark."

[quote:magneto]whoa, whoa! slow down there bro!!!. . . what kind of advice is that? he should just tuck his tail between his legs and resign?? and did i hear u say "like they do in develop countries"?? what da Bleep has that got to do with our country? and whats this nonsense about nobody taking him serious anymore?? speak for yourself only mister!!! [/quoote]

look you cannot have 2 captains in a ship, the guy has started growing wings, and those wings had to be clipped sooner rather than later. If the guy does not resign, he will be just ba bon-boy, yes sir kind of guy. He even made a blunder about 2 months ago, when he was question about 42 billion we had in reserve by the national assembly. He said 7 billion out of that maoney belongs to the federal govt, and the remainder belongs to the CBN. Who owns the CBN,

i have a feeling soludo told the prsident verberlly, and the president said yeah fantastic idea, what he forgot to do is get a written consent from the president. Obviously without a written consent soludo has opened himself to crititism, he should just bite the bullet and resign, like they do in develop countries. His authority has been undermined. Nobody will take him serious anymore.

Prohesy - there is going to be a boom in the next 2 to 3 years in the stock market, some of you good investors will be millionaires overnight if you are investing heavily in stocks and there is going to be a bust the impact will be devasting. The reason why the naira is re-denominated is to attract international fund managers to nigeria, a stock that is N68 will be 0.68kobo, but then the naira will be $1.00 to N1.25. if such a stock were to grow from 0.68k to N2.00, that will be rougly $2.00+, with international fund managers bringing in a lot of dollars to invest this is a good returns on there investment. Imagine a fund manager investing $100 million dollars in some nija stocks and there is growth of Xtimes 4, that fund manager has made $400 million. The head of the nigeria stock exchange over recent months have been touring both Europe and American wooing investors to come and invest in stocks, I have a feeling the re-denomination of our currency is one of the areas that the international fund managers pushed for, they want to get maximum returns on their investment. The same Soludo 4 years ago rejected re-denomination when some tink-tank suggested it to him, why is he accepting it now.

I have set-up a spreed -sheet to monitor the insurance stocks, that is where you will be able to make the next big killing in the stock market. But it is very volatile, going up & down, i just want to monitor it for 6 weeks then decide if its really worth investing in it. if I venture to invest, i will not buy ins stock on ipo, i will go to the secondrary market.

[size=14pt]Case of re-denomination - Ghanian view see extractsn: [/size]

In an article titled “Does the new Ghana Cedi have a higher value than the US dollar?” (ghanaweb, August 9, 2007), I argued that the redenomination of the cedi had no effect on its purchasing power. My inability to acknowledge a very trivial fact may have led some commentators to miss the substantive point of my article. Based on public and private reaction to my article and the interest generated thereof, I have decided to write this follow-up article.

In this article, I shall argue that there are trivial facts and there are important issues and that we should focus on the latter. Indeed, the focus of my previous article was on an important issue (i.e., what is the effect of redenomination on the purchasing power of the cedi?).

Let me begin with an analogy. A mile is longer than a kilometer. Before Ghana switched from the imperial system to the metric system, the distance from Accra to Nsawam was 22 miles; actually it still is, if you are an American. After the switch, the distance was changed to approximately 35 kilometers. Did that change the cost of traveling from Accra to Nsawam? Did it increase or decrease the physical distance from Accra to Nsawam? No, it did not. So while it is a fact that a mile is longer than a kilometer, it is a very trivial and unimportant fact because it has no effect on the much more important issue of whether the distance from Accra to Nsawam is longer or shorter. Similarly, while it is true that we have relabeled our currency to make it worth more than the dollar in Ghana, it is, nevertheless, a very trivial fact because it has no effect on the more important issue of whether the stock of goods and services has changed. As explained in my previous article, it has no effect on real income. Just as measuring distance in miles or kilometers will not change the cost of travel, so will measuring all incomes and prices in old cedi or new cedi have no effect on real variables (e.g., the real income of the Ghanaians) unless, as explained in my previous article, people suffer from the psychological framing effect known as money illusion.

Indeed, if redenomination could have suddenly increased the true value of our currency, then the governor of the Bank of Ghana, Dr. Paul Acquah, must be fired immediately for gross incompetence. He could have done much better by adding, at least, one more zero to the new cedi-old cedi conversion rate. For example, the current exchange rate of the new Ghana cedi to the dollar is approximately 0.95 Ghana cedi = $1 or 1 Ghana cedi = $1.05. So if Paul Acquah had set the new cedi-old cedi conversion rate at 1 Ghana cedi = 100,000 cedis instead of 1 Ghana cedi = 10,000 cedis, the exchange rate today would have been approximately 1 Ghana cedi = $10.50 instead of 1 Ghana cedi = $1.05. Should he be fired for not adding an extra $10.5 – $1.05 = $9.45 to the value of our currency? No!! But why not? Because any such increase in the value of the cedi is spurious. It is artificial. The redenomination of the cedi does not affect what we really care about (i.e., real income).

The reader will notice that in international financial news, the focus is not on one whether the pound has a higher value than the yuan or the dollar has a higher value than the yen and vice versa. What one typically hears is ‘the dollar weakened against the yen’, ‘the cedi fell in value against the US dollar’, ‘the pound opened weaker today, losing ground against all the major currencies’, ‘the dollar has been depreciating against the euro for weeks’, etc. If the pound has increased in value relative to the dollar, that is not the same as saying that the pound has a higher value than the dollar. It only means that the value of the pound today is higher than what it was yesterday.

Given that any domestic currency (e.g., the cedi) can be relabeled (i.e., redenominated) such that one unit of the new currency can buy more than one unit of a foreign currency (e.g., the dollar), it is meaningless to use this as the basis for comparing the value of one currency to another. Therefore, if one Ghana cedi can buy more than one dollar in Ghana, it is nothing to be excited about in any meaningful sense nor should this be used as the basis for judging the inherent strength of the cedi. A meaningful comparison is the value of the Ghana cedi today relative to its value tomorrow. Suppose that today, the exchange rate is 0.95 Ghana cedi = $1 or 1 Ghana cedi = $1.05. If the exchange rate tomorrow is 0.9 Ghana cedi = $1, we can say that the Ghana cedi has increased in value relative to the dollar.

When we talk about the relative levels of inter-country macroeconomic variables, we focus on things like the per capita GDP, unemployment rate, rate of inflation, etc. So, for example, it is meaningful to say that the USA’s per capita GDP is higher than Ghana’s per capita GDP. Similarly, a comparison between the unemployment rates in Ghana and the USA is meaningful. In contrast, we do not focus on the relative values of the currencies because that is actually meaningless (i.e., a trivial fact). What is meaningful is the movement over time in the relative values of these currencies. For example, what matters is how the new Ghana cedi appreciates or depreciates (in value) over time which is ultimately a reflection of the changes in the real value of the goods and services (i.e., GDP) that Ghana produces. Therefore, we are back to square one: GDP.

As a trivial and vacuous statement of fact stemming from relabeling the cedi, we could amuse ourselves by saying that the Ghana cedi has a higher value than the US dollar in Ghana. But in matters as serious as nation-building, we should not focus on simplistic and trivial statements that tell us nothing about economic fundamentals. A meaningful aspect of the redenomination exercise is the fact that it reduces transactions costs and eliminates the inconvenience of carrying money in plastic bags. If at all, this is what we should focus on and indeed, the Bank of Ghana has made this point clearly and admirably. But ultimately, we have to focus on increasing the productive capacity of our dear nation. With sound macro-economic management and good leadership, the redenomination of the cedi will be a step in the right direction.

*The author, J. Atsu Amegashie, teaches economics at the University of Guelph, Canada.

[quote:dezzle]If you earn N200,000, your salary will translate to N2,000 while your house rent of N419,000 will now be N4,190. Your plate of meal at a restaurant, which used to be N2,000 will now be priced at N20 while the N130 price


[size=18pt]se na u go force me make i take N4190.00 abi na soludo. The problem with this kind of radical monetry policy is how would you force the informal or black market economy to conform with the new rates.[/size]

[b]looks like it will not happen afterall, soludo did not let his masters know b4 announcing to the whole world, he has been summoned[/size][size=8pt][size=8pt][/size]

[quote:]coolloveif =N=1 is equal to $1 will their purchasing power be the same? I don't think it will be the same[quote][/quote]even among the 16 or is it 20 european countries the purchasing power of the euro is not the same, so i dont think it will be the same purchasing power.

[quote:Bomi]Please enlighten on the effect of this reforms on savings and investment in shares

if u your share is say like example Zenith bank @ N63.00, under d new dispensation it will be 63/100 = 0.63kobo, that will be the new value post redenomination. this is just a narrative of the scenerio.