Gajagojo: You really do not know what you are saying 1. Court documents are public documents they are NOT PRIVATE . They are part of jurisprudence and are public property
2/ She is a senator , public figure and so any court case she has been involved in is of great public interest
3. The matter at hand will ultimately turn on a word against word judgment. In law this is known as CREDIT i.e who is more credible and trustworthy as a witness
This will of course come to character and it is totally legitimate to examine any evidence that challenges her character or credibility
If she is known to be a liar or dishonest then that will have to be brought up
She is the one that has made serious allegations. The moment you do that they are entitled to dig up her personal and even medical history e.g how many abortions she has had did she ever use drugs everything about her biography will come under scrutiny . Nothing is sacred and that is why people must be careful about making allegations because the hunter can very quickly become the hunted
Sorry but she gave up any privacy entitlement a long time ago
chopnaira: First Bank will, today, Wednesday, March 5, conduct the groundbreaking ceremony for its new green-certified iconic head office building at Eko Atlantic City, Lagos.
A statement by Ag. Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Olayinka Ijabiyi, said the 40-storey building project is designed to be the tallest building in Nigeria.
“It will be an engineering and environmental delight due to its technologically advanced, eco-friendly and sophisticated construction which would set a new standard for the financial services sector in Africa,” the statement said in part.
1. Tallest Building in Nigeria – The new headquarters, a 40-storey skyscraper, is set to become Nigeria’s tallest building, redefining Lagos’ skyline.
2. Location in Eko Atlantic City – The headquarters will be situated in Eko Atlantic City, a modern city built on reclaimed land, reinforcing First Bank’s commitment to innovation and sustainability.
3. Eco-Friendly and Green-Certified – The building is green-certified, designed to reduce operational costs and environmental impact, making it a model for sustainable banking infrastructure in Africa.
4. Engineering and Technological Marvel – The structure will be technologically advanced, integrating sophisticated construction techniques that set a new benchmark for the financial sector.
5. Symbol of First Bank’s Legacy – With over 130 years of existence, the new head office represents First Bank’s commitment to excellence, innovation, and long-term growth.
6. Driving Economic Growth – First Bank Group CEO, Olusegun Alebiosu, emphasised that the project will contribute to economic development across Africa and create long-term value for stakeholders.
7. High-Profile Groundbreaking Ceremony – The event will be attended by President Bola Ahmed Tinubu, Senators, Lawmakers, Governors, Federal Ministers, and business leaders, showcasing the national significance of the project.
8. Femi Otedola’s Endorsement – The Chairman of FirstHoldCo, Femi Otedola, highlighted the importance of collaboration in bringing the ambitious vision to life, appreciating customers and stakeholders for their support.
9. Commitment to Customer Satisfaction – The building is designed to enhance operational efficiency, ensuring better service delivery and an improved banking experience for customers.
Konte.Yoruba: Singer and songwriter Mr. Eazi has announced the passing of his beloved mother, Mrs. Ifeoma Edith Ajibade. His mother, Ifeoma... Sending him all the love during this difficult time. 🕊️
oxygenator: If stroke has resulted into sudden blindness or vision loss and victims have quickly reported for hyperbaric oxygen treatment - hbot, there is high hope for recovery of sight.
Early reporting is key to a successful recovery from central retina artery occlussion -crao.
CRAO stops the retina from receiving blood and oxygen to the retina and this may occur suddenly. In this condition no treatment works better than HBOT.
I've known about HBOT for a couple of years now. It's important to know about the potential adverse reactions or effects associated with HBOT to allay the fears of clients as seen in the video right BELOW:
Great100000: Holding a valid US visa can provide Nigerian passport holders with easier access to several countries without needing an additional visa. Many nations recognise the US visa as proof of prior vetting and allow entry with minimal restrictions.
Here are 21 countries you can visit with your US visa as a Nigerian passport holder
Trucks and Caicos
Belize
Sao Tome and Principe
Dominican Republic
Mexico
Panama
Albania
Bosnia and Herzegovina
Georgia
Montenegro
North Macedonia
Serbia
Egypt
Morocco
Qatar
Bermuda
British Virgin Island
Costa Rica
Nicaragua
Saudi Arabia
Antigua and Berbuda
Key considerations
The US visa must typically be valid for at least six months.
Some countries require that at least one entry on the US visa has been used.
Entry policies and requirements may change, so it is advisable to check with the relevant embassy before travelling.
TAPF: What is the main cause of retinal detachment?
Retinal detachment is a serious eye condition that requires prompt medical attention. Here's a comprehensive overview:
*What is retinal detachment?*
Retinal detachment occurs when the retina, a thin layer of tissue at the back of the eye, separates from the underlying tissue. This separation can cause vision loss and even blindness if left untreated.
*Symptoms:*
1. Sudden appearance of floaters (small spots or strings) in vision 2. Flashes of light 3. Blurred vision 4. Double vision 5. Shadow or curtain descending over field of vision 6. Loss of peripheral vision
*Types:*
1. Rhegmatogenous: Most common type, caused by tears or holes in retina 2. Tractional: Caused by scar tissue pulling retina away from underlying tissue 3. Exudative: Caused by fluid accumulation under retina *Causes:*
1. Injury or trauma 2. Diabetes 3. High myopia (nearsightedness) 4. Retinal tears or holes 5. Tumors 6. Inflammatory disorders
*Treatment:*
1. Surgery (vitrectomy or scleral buckling) 2. Laser photocoagulation 3. Cryotherapy 4. Pneumatic retinopexy (gas bubble injection)
*Risk factors:*
1. Age (over 50) 2. Family history 3. Previous eye surgery or injury 4. Diabetes 5. High myopia
*What to do if symptoms occur:*
1. Seek immediate medical attention 2. Contact an eye doctor or emergency room 3. Do not delay treatment, as prompt intervention improves outcomes
If you or someone you know experiences symptoms of retinal detachment, please seek medical help right away.
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In Nigeria, retinal detachment surgery, including options like vitrectomy, scleral buckling, and pneumatic retinopexy, is a crucial procedure for restoring vision, with hospitals like Eye Foundation Hospital and National Eye Centre achieving high success rates.
Types of Surgery for Retinal Detachment: Scleral Buckling: A band is placed around the eye to push the wall of the eye against the retina, helping it reattach.
Pneumatic Retinopexy: A gas bubble is injected into the eye to push the retina back into place, followed by laser or cryotherapy to secure it. Vitrectomy: A surgical procedure to repair detachments, often used in complex cases. ~~~~~~~ ~~~~~~~ |||||••• https://skippereyeq.com/retina-surgeries-treatments/
Types of Retina Surgery Several types of retina surgeries address different eye conditions. Below are some common procedures performed in Nigeria:
Laser Surgery Laser treatment is often used to repair small retinal tears or prevent detachment. This outpatient procedure involves using a focused beam of light to seal the tear, reducing the risk of further complications. It is a relatively quick and painless option for minor retinal issues.
Vitrectomy Vitrectomy is a more advanced surgical procedure used to treat conditions such as retinal detachment, macular holes, or severe diabetic retinopathy. During this surgery, the vitreous gel (a jelly-like substance in the eye) is removed and replaced with a saline solution or gas bubble to stabilize the retina.
Scleral Buckling This procedure is commonly performed for retinal detachment. A silicone band, called a scleral buckle, is placed around the eye to bring the retina back into contact with the eye wall. This method helps reattach the retina and is effective in preserving vision.
Pneumatic Retinopexy For certain cases of retinal detachment, a gas bubble is injected into the eye to push the retina back into place. This less invasive method can be a good option for select patients, though it requires specific post-operative positioning for optimal results.
Intravitreal Injections Injections of medication directly into the vitreous cavity are used to treat conditions like age-related macular degeneration (AMD) and diabetic macular edema. These treatments aim to control disease progression and improve vision.
Know the Average Cost of Retina Treatment in Nigeria The cost of retina treatment in Nigeria varies depending on the type of procedure, the severity of the condition, and the healthcare facility chosen. On average, retina treatments like laser surgery may cost between ₦50,000 to ₦150,000, while more complex surgeries like vitrectomy or scleral buckling can range from ₦300,000 to ₦800,000 or more.
Several factors influence the pricing:
Type of Surgery: Simple laser treatments are more affordable compared to intricate procedures like vitrectomy.
Hospital or Clinic: High-end private eye care centers may charge more than government or charity-run facilities.
Equipment and Technology: Advanced surgical tools and techniques often increase costs.
Surgeon’s Expertise: Experienced specialists may charge higher fees for their expertise.
Many eye care centers in Nigeria offer consultation services to evaluate your specific condition and provide detailed cost estimates. Some facilities also provide flexible payment plans or work with insurance providers to ease the financial burden.
It is essential to consider both the cost and the quality of care while choosing a facility. While affordable options are available, ensuring the expertise of the surgeon and the availability of advanced equipment can significantly impact the success of the treatment.
With growing access to quality eye care services in Nigeria, retina surgeries are helping many individuals preserve and restore their vision. Early detection and timely intervention remain key to achieving the best outcomes.
icon 4 hospitals in Nigeria & 30 Eye Hospitals in India
REQUEST A CALL When it comes to eye health, the retina is a critical part of the process. It is the thin layer of tissue at the back of the eye that plays a crucial role in vision by capturing light and sending signals to the brain.
If you’re dealing with a retinal condition or suspect that something’s wrong, understanding the available options for retina surgeries and treatments is important. So, let’s walk through everything you need to know about retinal treatments, the latest surgical techniques, the Retina Treatment Cost In Nigeria, and why Skipper Eye-Q International Eye Hospitals could be your go-to choice for your retinal needs.
What Are Retinal Disorders? Before diving into treatments and surgeries, it’s important to know what kind of conditions affect the retina. Retinal disorders can range from mild to severe, and some of the most common ones include:
Age-related macular Degeneration (AMD) – A condition where the central vision deteriorates, commonly occurring with age.
Diabetic Retinopathy – Caused by diabetes, it affects the blood vessels of the retina and can lead to blindness.
Retinal Detachment – This occurs when the retina separates from its underlying tissue, leading to vision loss.
Macular Hole – A small break in the macula, the central part of the retina, causing blurred or distorted vision.
Retinal Vein Occlusion – A blockage in one of the retinal veins, which can cause sudden vision loss.
Retina Treatment Options And Cost in Nigeria It’s important to keep in mind that retina treatment costs can vary based on the condition being treated, the specific procedures involved, and the healthcare facility you choose.
In Nigeria, the cost of retina treatments can vary widely depending on the complexity of the condition and the facility’s standards. Retina Treatment Cost In Nigeria can range from a few thousand naira to significantly higher amounts, particularly for surgeries like vitrectomy or retinal detachment repairs. It’s also worth considering that specialized care might cost more, depending on the experience of the doctors and the type of hospital.
Laser Therapy Laser treatments are commonly used for diabetic retinopathy and retinal vein occlusions. They work by using a focused beam of light to seal blood vessels or repair leaks in the retina. This technique can help reduce the progression of vision loss by stabilizing the condition.
In Nigeria, the cost of laser therapy for retinal conditions generally ranges from 40,000 to 70,000 NGN, depending on the hospital and the complexity of the treatment.
Vitrectomy Surgery A vitrectomy is a type of surgery used to treat retinal detachment, macular holes, and diabetic retinopathy. The surgeon removes the vitreous gel (the clear, gel-like substance inside the eye) to give better access to the retina. Once the vitreous is removed, the surgeon can repair the retinal damage directly.
Vitrectomy costs in Nigeria can vary widely, typically between 300,000 and 500,000 NGN, due to factors like surgical intricacy and hospital fees.
Retinal Detachment Surgery Retinal detachment is a serious condition where the retina lifts off from its normal position. Depending on the severity of the detachment, the doctor may perform a scleral buckle, pneumatic retinopexy, or vitrectomy to reattach the retina. Early intervention is key to preventing long-term damage.
Retinal detachment surgeries in Nigeria generally cost between 400,000 and 600,000 NGN, though advanced facilities or additional procedures may adjust the price.
Macular Hole Surgery A macular hole occurs when there’s a break in the macula, which can distort vision. This surgery often involves using a gas bubble to flatten the retina and encourage the hole to close. In some cases, the surgeon may also use a membrane peel to remove any scar tissue that might be preventing healing.
Macular hole surgery costs in Nigeria usually range from 350,000 to 500,000 NGN, with the price influenced by the hospital and any follow-up care required.
Intraocular Injections For certain conditions, such as wet macular degeneration, intraocular injections of medications like anti-VEGF agents are used to treat abnormal blood vessels growing under the retina. These injections help reduce swelling and slow the progression of the disease.
In Nigeria, each injection can cost between 20,000 and 50,000 NGN, with treatment frequency affecting overall expense.
Estimated Retina Treatment Cost in Nigeria Retina Treatment Type
Now, if you’re specifically looking to understand the cost at a leading healthcare institution, Retina Treatment Cost at Skipper Eye-Q is highly competitive and ensures that you’re not only receiving top-notch treatment but also value for your investment. The hospital provides tailored treatment plans to ensure that patients only pay for what they truly need, and it’s committed to making sure that the cost is transparent and manageable.
For instance, Retina Treatment Cost at Skipper Eye-Q may involve charges for consultations, diagnostic tests like OCT (Optical Coherence Tomography), the surgery itself, post-surgery care, and follow-up appointments. While the price can fluctuate, Skipper Eye-Q strives to provide high-quality care without breaking the bank.
Ishilove: I noticed it and I knew it was a typo because Prof died waaay before 2023
Please can you give me an email to reach you? I need to run something by you urgently.
You can just send me a Nairaland DM with the details and I will reach you there. Please this can be done by going to my profile and clicking on 'send message' tab.
Hi Ishilove, I was finally able to log in about 1 hour ago into my email used originally for this NL account after getting some initial "error 400 messages" and I've read the full message. It's OK you sent the message. I'll get back to you for some more feedbacks and I have positive specifics to give on the situation via DM or so when I'm less busy between today and the weekend and we'll see how things pan out. I've done some cost comparison research on the situation within the 1 hour that I read the DM from you, and came up with some positives that you can follow through as well in Nigeria.
hatchy: No, I don't think so. He is much better as a governor and this present position.
Wike as president will turn Nigeria worse than the Nazi era.
Adolf Hitler, Idi Amin, Muselini, Mobutu and all known dictators will be a joke compared to him.
No doubt man likes to work and an achiever, but he is a dictator.
Tinubu was in same position, good at making people, but he is not good at governance, both as governor and now president.
I strongly DISAGREE with aspects of your post. It seems you are younger in age (born in the 1990s or something) OR you are a bit older and DON'T have a strong recollection of who Bola Tinubu was as the Governor of Lagos State. Before some of us became Diasporans, we knew what Lagos State was during the military dictatorship years and right after 1999 when democracy was restored. Things are still not fully perfect but way better than the past.
Your post is simply based off of assumptions NOT historical facts with reference to the bolded.
The current President of Nigeria did quite well within his resources as the Lagos State Governor because as of 1999 (after he returned from political exile in the United States of America due to the brutal military dictatorship that went about assassinating political activists in the from 1993 to 1997) when he assumed office, a large part of Lagos State was looking run down in terms of roads and public infrastructure due to the bad state the military dictatorships left it.
Lagos State had to undergo a lot of gentrification or renewal again with new institutions and infrastructure. The long-term developmental plan that gradually transformed Lagos State into what it is today evolved during the Bola Tinubu years and was followed LARGELY by all the Governors that took over from him.
In terms of his cabinet teams and political associates, Bola Tinubu, who is a brilliant Chartered Accountant worked with the multinational oil and gas company, Mobil Nigeria (now ExxonMobil) as a technocrat and rose to the senior rank of a treasurer, went for very brilliant folks and technocrats such as Babatunde Fashola (who is a lawyer and was his Chief-of-Staff before becoming the Governor), Akinwunmi Ambode, a finance guru and ivy league graduate, Babajide Olusola Sanwo-Olu who is a technocrat and senior investment banker who rose to the rank of a bank treasurer.
Last but NOT least, the iconic Eko Atlantic City land reclamation and partnership (which saved Victoria Island from going under the raging Atlantic Ocean waves due to annual rain floods and ocean surges back in the late 1990s to the early 2000s), the Lekki Free Trade Zone (LFTZ) in Ibeju-Lekki, the location and large land allocation for building Dangote Petrochemical Refinery, the Lekki Deep Seaport of which Lagos is a shareholder, several newly created Lagos State agencies, the increase of the IGR of Lagos State from less than N1 billion (for many decades)to over N1 billion from the early 2000s (leading to the extent that Lagos State can NOW survive WITHOUT Federal allocation as of today through the financial engineering of Tinubu and his team to block leakages) were ALL conceived and implemented by now President Bola Tinubu and then other Governors after him followed the Lagos State Developmental Master Plan with the Blue Rail line and Red Rail line that are seen in Lagos State today emerging to ease community and lessen traffic.
There's a lot more but I'll end the convo right here and now.
Freshwhyte: Federal Capital Territory (FCT) Minister, Nyesom Wike, during a meeting with the President of Lombardy Region, Attilio Fontana, in Milan, Italy today.
Ishilove: We will be wilfully deluding ourselves if we don't acknowledge the glaring fact that wicked and unscrupulous people from the east are majorly behind the menace of fake drugs in the country, and this has nothing to do with ethnocentrism. All the ethnic regions in Nigeria have their own peculiar vices, and for counterfeit drugs, it is the eastern region.
True that.
On the other hand, I made an unintended typographic error (which I've just corrected) in my post which you quoted here.
It was in December 2003 (NOT 2023) that those criminals linked to the counterfeit drugs cartels tried to kill Dora Akunyili while being driven in her car in Anambra State with the bullet miraculously only grazing her scalp from the back wind screen of her car.
Take care.
P.S. I saw that you tried reaching moi via DM email. I tried logging in but got an "error message." I haven't logged into that email in a long time though.
This thread is kinda eerie to me. NO article source link which is unlike NL, then claims of a controversial leaked letter about Natasha and her now Itsekiri-born spouse.
Last but not least, the Reno Omokri factor too that was debunked by him with significant evidence that he wasn't even in Nigeria on the day that Natasha said he sexually harassed her! I'm of here soon.
belikewater: No mind dem, she was my head girl when I was in JSS3.
That's interesting. I assume and you have a good opinion about her from closely observing her right till she graduated from high school in 1999 (or sometime close to the year 2000 when she gained administration into the Uni).
I strongly think it was premature to have pushed this article to the frontpage without a "Source" however true some key points in the post might be.
She's just in her early 40s and still grappling with gaining full control of her emotions from all that I've seen of her volatile reactions in videos. She allowed her emotions to overwhelm her on the floor of the Nigerian Senate but she'll need to take a breather and do a reassessment of the current situation with a professional mental health therapist while pursuing her case legitimately against the man who is the current Senate President in Nigeria. Period.
Dapagun: Senator Natasha Akpoti is a polarizing figure in Nigerian politics, known for her ambition, resilience, andf a trail of controversies that have defined her rise. At the heart of her public persona lies a knack of pivoting from one controversy to another. Many of these allegations are often polarising and evoking strong emotions, dying away when a light of truth is used to illuminate it. Her journey from schoolyards to the Senate is a blend of achievement and allegations, leaving many to question the methods behind her success.
Early Life and Education
Natasha’s knack for navigating challenges emerged early, earning her the nickname "NKOM" (Natasha Akpoti of Manipulation) among secondary school friends. They recall her skillfully deflecting trouble with teachers through charm, feminine guile, and persuasion. This early reputation foreshadowed a pattern that would follow her into adulthood.
In 2000, Natasha enrolled at the University of Abuja to study law, arriving with a flair that turned heads. Her classmate’s recollection paints a vivid picture: “From day one, Nkom’s goals were clear. She relied on her sex appeal via see-through outfits, expensive perfumes, and a wardrobe that outshone everyone on campus.” Her academic performance reportedly lagged initially, but by her third year (300L), her grades improved significantly despite rare class appearances, sparking whispers of favoritism from lecturers. She graduated in 2004 and attended the Nigerian Law School in 2005, where rumours of using influence to pass the bar exams swirled, though no evidence substantiated these claims.
Years later, seeking to bolster her credentials, Natasha pursued an MBA in Oil & Gas Management abroad in 2011, completing it in 2012. This move not only added a degree but also connected her with powerful “mentors and associates”, a network that would prove instrumental in her career.
Career: Climbing the Ladder Amid Controversy
Natasha’s professional life began in 2007 as legal counsel at a top LNG company, a position she held until 2010. Described as a “gift” from influential allies, her tenure was shadowed by allegations of secret deals and favours exchanged with executives to climb the ranks. These whispers of impropriety set the stage for her next venture.
In 2015, she launched BHIIP, an investment scheme promising high returns and exclusive perks, reportedly targeting wealthy men and politicians. Critics, including Reno Omokri, labeled it a fraudulent front, though Natasha fiercely denied such claims, touting her transparency. The venture’s reliance on persuasion and promises mirrors the tactics seen in her 2014 accusation against Omokri. In that incident, she claimed he harassed her at an Aso Rock event, only for Omokri to produce evidence shared publicly on his social media that he was abroad during the alleged time. Natasha’s subsequent deletion of the accusation fueled speculation that it was a strategic move gone awry, a controversy that would haunt her reputation.
Her career peaked in 2018 when, on March 1, she testified before the National Assembly about corruption at the Ajaokuta steel mill. Armed with documents, she accused politicians and businessmen of embezzlement, though some pointed to her own controversial dealings as undermining her credibility. The ministry dismissed her claims, and rivals called her a corporate pawn, but Natasha turned the spotlight into a legal offensive, suing a tabloid that exposed her involvement. This ability to pivot from accusation to advantage echoes the Omokri episode, reinforcing a pattern of using controversy as a tool.
But by far, her most spectacular controversial stunt was the threat of legal action against her then boyfriend, now husband, to marry her or he'll be criminally prosecuted for procuring abortions for her. As usual, the letter from her lawyers got “leaked” to the media and the man agreed to marry her,prompting protests from his clan's men and women, and the man's senior wife.
Political Career: Power Through Allegations
Natasha’s political ambitions took flight in 2018 with a Senate run in Kogi Central, leveraging a gender-centric campaign and “strategic alliances” within the PDP by May 2022. Her media team clashed with supporters of Peter Obi and the Obedient movement, showcasing her combative style. The 2023 elections brought further drama as she accused then Governor Yahaya Bello, a former ally turned rival, of blocking roads to suppress her voters. Losing narrowly with 51,763 votes to her opponent’s 52,132, she challenged the results.
On September 6, 2023, an election tribunal overturned the outcome in her favor, a decision the Court of Appeal upheld on October 31, 2023, securing her Senate seat.
The Omokri incident looms large over her political narrative however. That 2014 accusation, disproven and retracted, parallels her earlier and later moves like her road-blockage claims against Bello and the present brouhaha against the leadership of the Senate suggesting a reliance on bold allegations to shift narratives or gain sympathy. Critics argue this tactic reflects her “NKOM” persona: a willingness to rewrite rules or, as one observer put it, “burn everything down to win.” Her charm, style, and strategic flair, her “nuclear weapons”, have undeniably propelled her, but the false Omokri claim, blackmail for marriage, and other unproven allegations from her remains a glaring Achilles’ heel, casting doubt on her credibility. How much of her success stems from merit versus maneuver? Causing chaos or actually being a true victim?
Interesting takes.
What's the "Source" of this article above?
Some of the key points like the one right BELOW had better be true though OR expect a case of litigation soon from Natasha Hadiza Akpoti-Uduaghan. She's not just a lawyer, but a "highly emotional" one.
But by far, her most spectacular controversial stunt was the threat of legal action against her then boyfriend, now husband, to marry her or he'll be criminally prosecuted for procuring abortions for her. As usual, the letter from her lawyers got “leaked” to the media and the man agreed to marry her,prompting protests from his clan's men and women, and the man's senior wife.
fergi.e001: Senate suspends Senator Natasha Akpoti Uduaghan for 6 months from 6th March for rules violation NTA
Senator Natasha Akpoti-Uduaghan suspended for six months, her security details and privileges withdrawn, not to be found around the premises of the National Assembly. Nifemi Oguntoye
This injustice will not be sustained Natasha Akpoti-Uduaghan
Natasha CLEARLY got too emotional and went overboard by letting those emotions dominate her ENTIRE being as a FIRST-TIME Senator. As a part maternal Ukrainian and part paternal Nigerian of Ebira descent that Natasha is, I was for a minute wondering if this is how products of mixed European and African unions LARGELY behave? BUT then it's clearly not so, as I've personally known a lot of folks from these mixed relationships that are "stoic" in the face of life's headwinds.
Regardless of whether she is right OR wrong in her accusations against the man who is the current Nigerian Senate President, she has to obey the official rules guiding the activities of the Senate and NOT assume that every move is targeted at her. Period.
DeLaRue: A lot of 'foreign investment' has been flocking into Nigerian Stocks, treasury etc. That is where the 'excess' dollars is coming from.
Have you noticed that share prices have been rising strongly on the Nigerian Stock Exchange. That's because there is a rush of foreign money buying up these shares.
That's the positive side.
The negative side is that many of the foreign investors have already made 20% or more profit on the shares they bought, but that profit increases even faster the more the naira gains value.
The fear of the CBN is that if the naira gains value too fast, for instance it drops to 1,380 or 1,400 too fast, many of the foreign investor may sell up because of their massive profit and move their money out of the country too soon.
Imagine you're an investment company in the UK, and in a typical year, you probably make 10 - 15% return. You see an opportunity in a faster growing economy (Nigeria) where over the course of a year, you can make a 25 - 30% return if you buy Nigerian shares. And so, you invest in Nigerian shares. But within 3 months, you already have 20% profit on the shares (something you can only dream of in the UK). Then the naira gains value sharply ( to about N1,350) - this naira gain will suddenly increase your profit to may 40%. In that scenario, you'll be tempted to sell those shares, take your 40% profit, and withdraw your dollars back to your country laughing all the way to the bank.
If most of the foreign investors react in a similar way, and bank their profits, that means dollar outflow will spike massively. The CBN will have to provide all that dollar immediately, thus putting fresh pressure on the naira.
In order to avoid such instability, the CBN does step into the market from time to time to buy excess dollars in order to ensure that the naira doesn't gain value too quickly.
It is like any market. For example, if there are too many tomatoes (Dollars) in a market that buyers can buy, the price of tomatoes will fall drastically. However if a big buyer (CBN) comes in and buys up most of the excess tomatoes, the price of tomatoes will rise and stabilise close to its usual price.
So, while the ordinary man on the street want naira to gain fast, CBN prefers a slow and steady process. Buying excess dollars is a way of ensuring the naira doesn't gain value too fast.
It is a complex subject, but I hope my explanation helps a little bit.
Indeed, that's the dark side of "Hot Money" or FPI. It's a double-edged sword if not properly regulated by the authorities in any financial ecosystem or Emerging Markets.
You're CLEARLY well informed financially but a few of the posters that I've seen quoting your posts here "rambling on" are just NOT well grounded in financial literacy. They just rehash beer parlor stories and engage in puerile circular reasoning while trying to sound sophisticated. Those of us who are more knowledgeable can easily suss them out.
The EFEMS deployment in December of 2024 has indeed partly been responsible for the exchange rate stability due to the transparency in quotes and removal of inefficiencies that existed prior to the EFEMS implementation.
DeLaRue: The naira is not even being subsidised now.
Some of this so-called experts don't even know what is going on. 1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.
2. As of today, that figure has fallen to around 3%!
3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb. If the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400. That would have created a new period of instability. The CBN prefers the naira to gain or lose very slowly. That is what businesses and investors prefer. They don't want drama.
That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.
That is a fantastic development.
The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.
Racoon: Amidst strong appreciation of the local currency, the Naira, in the foreign exchange market, there are indications that the fate of the currency is still hanging in the balance.
Financial Vanguard tracking of developments in the currency market last weekend indicates that the Naira has appreciated by 9.61 percent in the parallel market to N1,505/ $1 up from this year’s high of N1,665/$1, while the official market has recorded 3.1 percent appreciation to N1,500/$1 up from N1,548/$1. It also has a very positive and impactful outcome on businesses.
“What you are seeing is a very good trend and my hope is that this will be sustained. And then my advice is that the fiscal authority should complement the monetary authorities to ensure that we don’t see an unnecessary surge in liquidity which could dislocate the current trajectory of stability in the macroeconomic environment, especially the stability in the exchange rate”.
Naira Appreciation Alone can’t Moderate Price Stability - Adonri Reacting to the recent appreciation of the Naira, David Adonri, Analysts/ Executive Vice Chairman at Highcap Securities Limited, said: “Recent appreciation of the Naira may not immediately reflect on the price of goods because of the lag between cause and effect in economics.
Other than currency volatility, the economy also has other factors fueling inflation to contend with. If they all simultaneously moderate, price stability can be feasible.
“Judging from the recent revelation by a highly respected economist that FGN has so far pumped in about $8 billion to prop up the Naira, the recent appreciation may be a contrived gimmick. ”Notwithstanding, the Naira has every reason to start appreciating considering the reduction of the pressure on it from the petroleum sector and the pass through effect of declining energy cost.
”The game changer will come if and when FGN is able to liberate the rural economy from the strange hold of bandits and terrorists so as to close the yawning domestic supply gap”.
Impact on Economy Depends on Sustainability Egbomeade In his own comments, Clifford Egbomeade, Analyst and Communications Expert, said: “The recent appreciation of the Naira is a positive signal, particularly for businesses that rely on imported inputs and consumers facing inflationary pressures.
”The real impact on the broader economy depends on whether this trend is sustained. If the appreciation is driven by strong fundamentals, such as: improved foreign exchange reserves, increased foreign investment, and stronger export performance.
”However, if the rise is merely a result of short-term interventions like CBN liquidity injections or speculative activity, the effects may be temporary, with little long-term impact”.
“Generally, if the Naira maintains stability for at least a quarter, businesses will start experiencing tangible relief, particularly in pricing and operational costs.
”Sustaining this appreciation over the medium to long term depends on structural reforms rather than temporary market adjustments. A stronger naira requires consistent foreign exchange inflows from non-oil exports, improved investor confidence, and a reduction in the economy’s reliance on speculative forex demand. Without these, any gains may be eroded by external shocks or policy reversals.
“Additionally, inflation control is critical if domestic prices continue to rise, any currency gains may not translate into real economic benefits. The government must focus on enhancing local production, reducing import dependence, and ensuring a stable monetary policy environment to make this appreciation more than just a fleeting occurrence”.
The headline of the article contradicts the real body of the article with the absolutism of the adjectives used or approves by the Editor. This is probably intended to draw readers into the body of the article or mislead. The effective use of English language in terms of CLARITY is very important by Journalists and their Editors (who are responsible for the final vetting of news reports that are filed in by all their news correspondents).
David Adonri CLEARLY states the specifics and FACTS right BELOW:
"Reacting to the recent appreciation of the Naira, David Adonri, Analysts/ Executive Vice Chairman at Highcap Securities Limited, said: “Recent appreciation of the Naira may not immediately reflect on the price of goods because of the lag between cause and effect in economics."
Other than currency volatility, the economy also has other factors fueling inflation to contend with. If they all simultaneously moderate, price stability can be feasible.
“Judging from the recent revelation by a highly respected economist that FGN has so far pumped in about $8 billion to prop up the Naira, the recent appreciation may be a contrived gimmick.”Notwithstanding, the Naira has every reason to start appreciating considering the reduction of the pressure on it from the petroleum sector and the pass through effect of declining energy cost.
”The game changer will come if and when FGN is able to liberate the rural economy from the strange hold of bandits and terrorists so as to close the yawning domestic supply gap”.
kingthreat: Few weeks ago, while browsing on facebook, I saw a sponsored advert of a farm selling packaged spiced goat meat for 10k. On the post I saw alot of likes and comments of people asking how they can get it. I checked the page selling it and saw that there were different products offered including bushmeat, full chicken, guinea fowl, etc. I messaged the number on whatsapp and I was responded to. The person showed me pictures. I even called the person for confirmation and he did pick. He then sent the account number, I paid and he confirmed. I dropped my address as well. After 2 hours of no word, I messaged and he didn't respond on whatsapp. On a closer look on his facebook page, all I could see was anger reactions. Someone posted calling him a scammer but that post got deleted within minutes. That was when I knew I was defrauded.
After this happened, I reported the page to Facebook. Can you believe Facebook sent me a report the next day saying that the page did not break any guidelines and they did not take down the page?
From this it is obvious that Scammers are using the facebook platform to scam Nigerians. And facebook is indirectly encouraging it by allowing their ads and doing nothing about negative reports. For now I will advice everyone avoids sponsored ads from newly created facebook pages.
Meta owns both FB and Instagram so, I'm NOT surprised by the pussyfooting when it comes to tacking cybercrimes on their platforms. Analysts in the tech segment of the media have also spoken out about Mark's plan to relax "comments" on FB like Elon is doing on X. This can be counterproductive and Mark Zuckerberg must pay attention to the specifics here. That's the only way folks would be glad to stay on those social media platforms.
I use IG far more than FB, but thanks for sharing your story with everyone here. Elderly folks especially have to be told to be very careful about what links they click on social media. Senior citizens over 65 have been scammed of their money worldwide because they tend to believe what they see on these Internet platforms.
CastedDude: The Lagos State Police Command on Wednesday uncovered an illegal brewery where malt drinks and fake stout are produced at Egbe-Afa, Igbobo area of Ikorodu in Lagos. Five of the suspects behind the factory were also arrested by a team led by Lagos State Commissioner of Police, Imohimi Edgal, who took newsmen to the scene of the crime.
It was discovered that the illegal brewery produced malt drinks, stout and Ethanol which they pump into trucks to bottle at another location.
2]Police Uncover Illegal Drinks Production Factory in Oyo [Lagos State]
https://www.youtube.com/watch?v=gaxfoqh1y_w?si=3kQsxjy1-mjXlZln TVC News Nigeria · Dec 21 2023 Days after NAFDAC discovered fake drinks factories in Abia State (Cemetery market), the Lagos police command has discovered yet another one in the Ojo area of the state.
Police public relations officer Benjamin Hundeyin who made this known on his official X handle revealed that the operation was carried out by operatives of the Ojo Division and two suspects have been arrested.
There were also two reservoirs, where the finished products were kept, pending when they will be loaded into trucks which take them to different parts of the country.
"Some DEAD RATS and reptiles" were seen floating on the finished products, particularly inside the reservoirs.
1]Police Uncover Illegal Drinks Production Factory in Oyo [Lagos State]
https://www.youtube.com/watch?v=gaxfoqh1y_w?si=3kQsxjy1-mjXlZln TVC News Nigeria · Dec 21 2023 Days after NAFDAC discovered fake drinks factories in Abia State (Cemetery market), the Lagos police command has discovered yet another one in the Ojo area of the state.
Police public relations officer Benjamin Hundeyin who made this known on his official X handle revealed that the operation was carried out by operatives of the Ojo Division and two suspects have been arrested.
Boyooosa: Any manufacturing that has to do with oral ingestion, body care or health requires approval by Nafdac, doing it without license or approval is illegal and that is the crime he committed. The agency dont need to wait till he kills anybody before he's arrested.
And about the weapons display, you should see his bottles of fake wines on the table as displayed beside other exhibits from various crimes. Stop encouraging your brothers for crime. A word..