₦airaland Forum

adenigga:
In 2021, the state government said N6b was spent and not $2b as alleged in some quarters.

Also, the immediate past aviation minister, Hadi Sirika, conveyed the approval for the construction of the Ebonyi airport through correspondence to then Governor David Umahi, now Minister of Works. The letter was signed by the Director of Safety and Technical Policy, Capt Talba Alkali, on behalf of the ministry in 2019.

At the commissioning of the airport, Umahi revealed that he spent over N36bn to build the airport, located in Onueke, Ezza South Local Government Area. But as at the time of filing this report, the airport situation is best described as comatose.

The immediate past ekiti State Governor, Kayode Fayemi, expended N16bn public funds on the Akure airport, but the airport has also refused to attract aircraft over its non-viability.

When the governor conceived the idea, it was greeted by criticisms from stakeholders both in the state and beyond but the governor vetoed the cargo airport which is currently not in use.

As of January 2023, the Special Adviser to Governor Biodun Oyebanji on Budget, Economic Planning, and Performance Management, Niyi Adebayo, revealed that N16.6bn had been spent on the yet-to-be-completed facility in ekiti State.

He explained that the fund was used for perimeter fencing, completion of the runway and taxiway, terminal building, and payment of compensation for the farmers whose farmlands were acquired for the project.

In Jigawa State, ex-governor Sule Lamido, also pumped N4bn to build an airport for the state, one that was commissioned in 2014 by former President Goodluck Jonathan.

The airport facility is located less than 100km from Aminu Kano International airport, making experts describe it as wasteful spending.

Also, in Bayelsa, former Governor Seriake Dickson spent N70bn on the construction of an airport which began in 2012 and was completed in February 2019.

Source: https://punchng.com/Flights-of-fancy-Govs-slammed-for-wasting-N160bn-on-unviable-airports

AngelGabbyShara:
OYEBANJI: 2025, YEAR OF EKITI'S ACCELERATED GROWTH IN SHARED PROSPERITY

...Describes Airport as 'Best New Year Gift to Ekiti People'


He expressed what he called his "deepest gratitude" to President Bola Ahmed Tinubu "for his special interest in our dear State and his fatherly support to us at all times." He further appreciated federal government and its agencies in Ekiti for their cooperation and development and financial partners for their continuous support.

The Governor further lauded all Ekiti people both home and abroad for their goodwill since we assumed office noting that he was deeply touched by their show of love and solidarity and grateful for their advice, prayers, suggestions and constructive criticisms.

https://www.facebook.com/share/p/1HHXpwLBA4/

professorPABX:
Most of you are not exposed politically. Everybody that is politically experienced know Buhari never supported Osinbajo but Lawan. They started by picking APC Chairman by consensus because Tinubu's candidate will win. In fact, it was not a consensus, the Chairman was solely picked by Buhari and his cabal . Babafemi Ojudu is still nursing his defeat and fall. This is a man that benefitted so much from Tinubu but later betrayed him. He was one of the members of ACN faction of APC that gang up against Tinubu at the Presidency. Being a journalist he was their spokesman. I wept bitterly because I have never expected Osinbajo could betray Tinubu.

Osinbajo and Ojudu thought the handpicking of the Chairman instead of election is to favour Osinbajo not knowing the chairman is handpicked to announce a northern candidate (Lawan).

Ojudu said he never benefitted anything from Tinubu. He said he is an activist who have been a political icon before meeting Tinubu. He said they supported each other. I never read it until I went to Ado Ekiti. We were at hotel when the issue was being discussed, that was when Presidential Primary scheming and politics were very tough. Akeredolu tried. May his soul continue to rest. Also, may the soul of those that lost their lives at Owo Church terrorists attack during the APC primary rest in peace.

Ojudu doesn't have any shame, otherwise, he shouldn't have come up with this tale.

He is never happy Tinubu won.

professorPABX:
Osinbajo and I are from the same place. He cannot win a Local Government Chairman election. Soname (Betnaija) is more acceptable and will defeat Osinbajo in any election in that place. Babafemi Ojudu cannot win a Local Government Chairman election in Ekiti, he rode on Tinubu's political machinery to win the Senatorial election. He cannot win any election again. He is a betrayal just like his master. He fell politically and is on the ground.

Ojudu is still nursing his defeat. No Ogun State politician will vote for Osinbajo at any election.

TheRareGem1:
A former presidential Special Adviser on Political Matters, Babafemi Ojudu, has said President Bola Tinubu is not the right man to rule Nigeria at this point in time

Ojudu said having worked closely with Tinubu in the past, he feels his philosophy does not put him in the best position to be Nigeria’s current president.

He disclosed this while featuring on Edmund Obilo’s podcast ‘State Affairs’ on Monday evening.

The former presidential aide also described former Vice president Yemi Osinbajo as ‘a visionary’.

According to Ojudu, Osinbajo would have taken Nigeria to greater heights.

He said: “This country would have gone places with him if he had the opportunity but it didn’t happen

"I’m not Emi Lokan, I feel that having worked and related closely with the principal of Emi Lokan and worked at the National Assembly and presidency myself, I just feel that the philosophy of Emi Lokan was not appropriate at this time.

“Osinbajo was the best person to govern Nigeria at that time having seen him up close.

“Osinbajo is a visionary and let me tell you this, whoever is going to run this country successfully must not be an individual, he must be one person working within a group of people who have the same vision as him.


"You can’t just be a president and have a useless Inspector General of Police, have a useless head of Customs or Immigration or Chief Justice of Nigeria, everybody must sign on to your ideals, ideas, and visions.”
https://dailypost.ng/2024/12/31/tinubu-not-right-man-to-rule-nigeria-osinbajo-visionary-ojudu/

nairametrics:
Hot Money is another name for Foreign Portfolio Inflows into an economy
Latest report by the National Bureau of Statistics reveals hot money inflow topped $2.7 billion in the third quarter of 2017 and $3.4 billion year to date.

FPI’s has for the last 5 years dominated foreign investor inflows into Nigeria.
It hasn’t always been this way and we will explain why and when things changed
Foreign Investors once again poured hot money into Nigeria as Nigeria’s capital importation for the third quarter of 2017 soared to over $4 billion. This is the highest quarterly inflow of capital into the country since the fourth quarter of 2014.

Table 1

Where are investors putting their money

A quick glance at the table above reveals that over 50% ($2.7 billion) of these funds was directed to Foreign Portfolio Investments, FPI. Specifically, the funds were invested in the Nigerian Stock market, dominated by equities.

The impact is as expected, very positive. The stock market is up 41% year to date and remains one of the best performing in the world this year.

The increase in FPIs is largely due to the introduction of the Investor and Exporter Window by the Central Bank, in February this year.

Following the successful operations of the window, foreign investors have continued to pour in billions of dollars into a stock market that was battered by the exchange rate crisis. Not to be left out of the bonanza that is being enjoyed by Nigerian Banks, they also funneled money into the debt market, buying the Federal Government’s juicy interest rate offerings of FGN Bonds and Treasury Bills.

The flip side of an increasing capital importation driven by FPI’s is that the funds are not directed at the critical sectors of the economy where investments are needed.

Hot money, as the name implies, means the owners are one trigger away from repatriating their funds should there be any sign of the economy faltering again. Unlike FDI’s which are more difficult to repatriate, hot money come and go like a hurricane, leaving in its wake a battered currency and worse economy.

One will have to go back in time to understand the root of hot money into Nigeria and how it has now become a mainstay.

When FPI became > FDI

The Central Bank data on capital importation going as far back as January 2007, provides some answers.

[Pictorial Diagram]


Between 2007 and 2009, Nigeria attracted a significantly higher FDI compared to FPI. In 2008, total Foreign Direct Investment into the country was as high as $4 billion, as investors poured in money in response to Nigeria’s impressive GDP Growth rate.

Nigeria’s GDP Growth rate average 7.5% between 2007 and 2010 with nearly all sectors attracting significant FDI inflows.

So where did it all go wrong?

The switch

Nigeria started attracting a significant inflow of hot money in 2010 after the immediate
past CBN Governor, Sanusi Lamido Sanusi was appointed. In one of his major forex policy actions, he lifted the one year restriction placed on repatriation of foreign investments into Nigeria, giving Nigeria access to foreign capital. The restriction previously put in place by Soludo, dissuaded the repatriation of capital out of Nigeria.

Facing dwindling reserves (which had dropped from $43 billion in June 2009 when he was appointed Governor to about $37 billion a year after), Sanusi had to lift the restriction to attract more foreign capital.

This also coincided with a period where the United States and much of the West adopted Quantitative Easing (a policy that had governments pump money into markets as a stimulus). As US Government pumped capital at near zero rates, investors moved the funds to emerging markets like Nigeria where interest rates and returns were higher.

By the time the CBN’s policy kicked in by 2012, reserves had risen to $40 billion in September of 2012. It was no surprise that FPI rose from about $4.4 billion in 2011 to about $13. 4 billion in 2012. The growth was unprecedented and most of the funds poured into equities. By 2013, it had risen to $17.3 billion while FDI plummeted to $1.2 billion.

Policy response

The CBN knew that by opening the flood gates of capital importation and easy repatriation, the risk of hot money was real. In response, the CBN Monetary Policy Committee acknowledged the threat and gave assurances that it was under control

this increase reflected generally favourable commodity prices and inflows of capital in response to the removal of restrictions on repatriation and high domestic interest rates, as well as stable exchange rates. the committees noted the assurances that total “hot money” in the system is under strict surveillance and the bank is satisfied that the figure of us$5 billion does not pose a threat to financial stability in view of the current level of reserves. mpc of may 21, 2012

Same observation was made a few months later as a challenge potential large inflow of “hot money” resulting from further monetary easing in the us and europe and improved yield on fixed income instruments; september 18, 2012.

Despite this acknowledgement, they had no option but to hope that the economy will remain in good shape, until at least, FDI’s start to pick up. As the crash in oil prices that began in the summer of 2014 ensued, hot money once again found its way out of Nigeria, policy makers reacted poorly; leading to a crash of the naira, deepening of the economic crisis and eventually a recession.

Is Hot Money bad?

Whilst not the preferred form of capital for most economies, it remains one of the major source of capital flows into emerging markets. Despite being short-term, it helps countries meet their balance of payment obligations thus stabilizing exchange rate and attracting even more inflows. It is typically a risk when the economy experiences shocks as its withdrawals often leads to exchange rate crisis, like was witnessed between 2014 and 2016.

Nigeria needs FDI’s but will continue to struggle until it can solve its myriad of challenges. The government will have to get its fiscal policy right, while it promotes efforts at industrializing the economy. Nigeria’s power challenges will have to be sorted out as well as ramp up its efforts at improving ease of doing business.

These are all long-term solutions meaning that hot money will continue to remain the major source of capital importation for Nigeria for the next few years.
https://nairametrics.com/hot-money-inflow-into-nigeria-where-it-started/

nairametrics:
This article provides a step by step guide on how to invest in the Nigerian Stock Exchange. We will also highlight a number of factors peculiar with the Nigerian stock exchange that we think you should know before investing.

Who is this article for?

If this is your first time of investing in stocks, then this is also for you
If you just read a book about investing in equities and feel this is the best time for you to test the waters, then this is for you.
If you have been inspired by some of the things you read online about stocks and wish to invest in Nigeria’s stock market, then this is for you.
If you are interested in investing in the Nigerian stock exchange and wish to get a fair and balanced insight into what to expect, then this article is also for you.
If you are a complete novice with stocks then read this first

What is the official market for trading stocks in Nigeria?



In Nigeria, you can only buy and sell shares of publicly quoted companies solely from the Nigerian Stock Exchange which is based in Lagos. However, if you want to trade in equities of private companies, then the National Association of Security Dealers Over- The-Counter (NASD OTC) is the market for you.

How do I start?

Before you start trading equities in Nigeria, you will need to open a brokerage account with any of the approved stock broking firms in Nigeria. Upon application, you will be required to provide a means of identification, bank account details including BVN, passport photographs, signatures of account holders, next of kin details (if it is a personal account) etc. It takes less than 48 hours to open an account provided you have a bank account. Some stockbroking firms also have online trading platforms, meaning you do not need to visit the stockbroking firm physically. Just visit their portals and upload all the information that they need.

What else do I need to have?

We recommend that you open a Central Securities Clearing System (CSCS) account. CSCS is a market aggregator that warehouses all the accounts created and maintained by all stockbrokers in Nigeria. By owning a CSCS account, you can also view your portfolio independent of your stockbrokers and see what stocks you own. This is important as it helps you mitigate fraudulent activities. It cost between N2k and N5k per annum.

How do I start trading?

To start trading in equities, you are expected to have opened a stockbroking account. You will be given a Clearing House Number (CHN), which is unique to your portfolio. To trade, simply deposit money with your stockbroker and instruct them to purchase shares for you on your behalf. The means of communications is typically with your registered email. However, it is easier using their online trading platform, which allows you to buy and sell stocks on your own. Through online trading portals, you can place bids or offers which usually terminates within seconds of being received. You should also get emails from your broker once you place bids and offers, and when the transaction goes through.

Transaction fees

Transaction fees are charged any time your bid or offer goes through. There are statutory fees that you pay to regulators and those you pay to your broker. Statutory fees are fixed while broker fees vary between the range of 1.5% and 1.8% per transaction.

Taxes

There are no capital gains taxes on buying and selling of equities in Nigeria.


Clearing of funds

When you buy or sell stocks, it usually takes about 4 days before the entire transaction is concluded. In the NSE, clearing and settlement is T+3.

Withdrawals

After you sell equities, your cash remains in the account of the broker till you request for a withdrawal which takes within 24 hours to be completed. To withdraw using an online brokerage account, just visit the portal and click withdrawal. Some brokers also require emails for your withdrawals to be paid into your accounts. Remember, the account where your cash will be credited is the bank account you provided when you registered.

Trading time

The Nigerian Stock Market usually opens for trading at 9.30am for pre-markets. During pre-markets, you can place bids or offers and catch a glimpse of how the prices of stocks and the market as a whole might open officially. Pre-markets close by 10.05am, paving the way for Pre-open adjustments which last for about 10 minutes. The market then officially closes at 10.15am and closes at 2.30pm. You should read about 14.29

READ MORE: https://nairametrics.com/invest-nigerian-stock-exchange/

nlfpmod:

https://www.youtube.com/watch?v=SznGpEpS5Y0

nairametrics:
Purchase – Stockbrokers in Nigeria will charge an investors a maximum of 1.855% of the purchase consideration whenever you want to buy stocks

Sell – Stockbrokers in Nigeria will charge an investors a maximum of 2.4% of the purchase consideration whenever you want to buy stocks.

The total fees charged does not only belong to the stockbrokers

Stockbrokers make money from you whenever you buy or sell shares

READ MOREhttps://nairametrics.com/charges-and-fees-for-buying-and-selling-stocks/

nairametrics:
“If the world is like a giant scheming court and we are trapped inside it, there is no use in trying to opt out of the game of power. That will only render you powerless, and powerlessness will make you miserable. Instead of struggling against the inevitable, instead of whining and feeling guilty, is it far better to excel at power. In fact, the better you are at dealing with power, the better friend, lover, husband, wife, and person you become.” (Greene. 48 Laws of Power, 1998).

And with a networth of $13.8billion, as of day 1, 2018, Dangote is surely a better everything in Nigeria, Africa, and the world at large. Since this 60 year old man blazed upon the Forbes list in the early 2000s, his networth has gone in only one direction – up. And despite the changing business climes, locally and globally, it continues to go in only one direction – (you could have guessed it by now) up.

Close associates and friends have attested to this business mogul’s love for reading – this man, is a voracious reader. And you have to be when you oversee a business empire stretching from Egypt to Nigeria and all the way down to South Africa. And though most of his business concerns are based in Africa’s most populous country, we couldn’t help but notice that though, through the years, Dangote’s business philosophies have been hinged on several guiding beacons derived from several worthwhile managerial gurus, a few of his erstwhile philosophies have come from the book, The 48 Laws of Power, and this book, though not a business book in the total sense of it, can teach us many thing many things as have been thought to Dangote.



So, let’s take a critical look at just 5 of the Laws from Robert Greene’s 1998 bestseller that Africa’s richest man almost surely adopts in life, and most importantly, business.

48th Law, Number 1: – Never Outshine the Master: – Always make those above you feel comfortably superior. In your desire to please or impress them, do not go too far in displaying your talents or you might accomplish the opposite – inspire fear and insecurity. Make your masters appear more brilliant than they are and you will attain the heights of power.

With all the wealth, power and connection this 60 year old wields, never once has he been known of heard of, in public sha o!, to criticize the brass of Nigerian politics or policy making. In fact, when once asked to comment about a controversial government policy enacted at the time, Aliko simply said “I’m sure they know what they are doing” and that was that.

Lessons learnt: – Do not fool yourself into thinking that life has changed much since the days of Louis XIV. Those who attain high standing in life and society are like kings and queens. They want to feel secure in their positions. It is deadly but common misperception to believe that by displaying and vaunting your gifts, talent and wealth you’re winning the master’s affection. He may feign appreciation but at the first opportunity he will replace you with someone less intelligent, less attractive and less threatening. By letting others above you take the glory, you remain in control, instead of being a victim of their insecurities. This will all come in handy the day you decide to rise above your inferior status.

48th Law, Number 4: – Always Say Less Than Necessary: – When you are trying to impress people with words, the more you say, the more common you appear, and the less in control. Even if you are trying to say something banal, it will seem original if you make it vague, open–minded, and sphinx–like. Powerful people impress and intimidate by saying less. The more you say, the more likely you are to say something foolish.

Now, outside business, Aliko is one man who rarely talks about anything else. Even with the financial arsenal at his disposal, he cautiously, and wise stays away from politics, its entangling’s and any small talk, that will not eventually see him a billion dollars richer by the end of that chitchat. He is known to say very little unless asked a direct question, even amongst friends.

Lessons learnt: Keep your big mouth and small thoughts to yourself, no matter how tempting the conversation. If it veers towards the banal, respect yourself and whatever reputation you’re trying to build and stay the course of profitability; unless you’re paid a huge sum to blab – don’t!


READ MORE:https://nairametrics.com/5-rules-that-dangote-has-adopted-from-the-48-laws-of-power/

Alakoriomo:
You can imagine. This is a country whose minimum wage is over 400,000 dollars per hour

Alakoriomo:
Man lament for buying 5 pieces of apple, eggs and tomatoes for 32$ (after taxes). Americans are enjoying but they’ll still complain why?

But this guy complain just for $32? Why are some people ungrateful

cococandy:
People keep telling women to forgive sexual misconduct from men because it’s just masculine and feminine differences. If you forgive a cheater you’re a good wife because that means you want to keep your home. Love and pray for him while he cheats after all he’ll come back to home eventually.

Na em she give this one chance and he cheated his way into the arms of child. 😒😒

naptu2:

https://www.youtube.com/watch?v=vnCN2H1QxZk?si=691PA1BAXW8EAnI0

3 videos have gone viral on social media.

1) The first video shows DJ Kulet sitting at the driver's seat of her car. Her husband, Ohis Emmanuel (aka Benjamin) is sitting on the passenger seat and the little girl and her mother are sitting at the back. DJ Kulet told the little girl to say what happened. The little girl said that DJ Kulet's husband often molests her and her friend in his car at night. She said that he sucks their breasts and makes them massage his penis.

DJ Kulet asked her husband if what the girl said was true and he confessed that it was true.

DJ Kulet was complaining that her husband sleeps around and that he also has sex with little girls. The mother of the little girl was pleading on the man's behalf. She said that it could be a spiritual attack. DJ Kulet warned the mother not to provoke her. She said that her husband has had affairs and she forgave him, only for him to sleep with other women again. She asked how her husband was able to molest a 13 year old girl.

2) The second video shows DJ Kulet and her husband sitting down while the little girl was kneeling in front of them. The husband was apologising to the little girl for all that he had done to her and he gave her money for Christmas and a watch. (Some people say that DJ Kulet recorded this video in order to get more evidence against her husband).

3) The third video is of the wedding between DJ Kulet and Ohis Emmanuel (aka Benjamin). They got married 8 months ago.

Olamide @Olamideofficial

Her husband is sexually assåulting a 13-year-old girl. See what the mother of the girl is saying ffs 🥴 pic.twitter.com/aqDRD13vzf

— OLAMIDE 🌸💖 (@Olamide0fficial) December 30, 2024

As expected, many people have tagged the Lagos State Domestic Violence and Sexual Abuse Agency (Lagos DSVA) and this is their response.

Lagos DSVA @Lagosdsva



https://x.com/Lagosdsva/status/1873835944878477493?t=w5ktqPyosdRmxplQ2nbsMA&s=19[/quote]Whoa! Where have I been all day?

I'm only just getting to read this news on this thread. This dude just ended his 2024 on a very resounding bad note! C'mon what came over this guy to do this with a 13-year-old girl despite the fact that his DJ wife of 8 months forgave him for his earlier sexual misdeeds with other ladies? There are certain things a man should have done away with before getting married.

I've NEVER heard of this young lady called Deejay Kulet until now, BUT she did the right thing by letting this whole thing out into the public domain. If I were in her shoes, I'll do the same. Nobody likes being relentlessly taken for a fool! I like her self-confidence and if she's got the true qualities a self-aware man wants in his woman, she'll certainly get another man who'll respect her and himself as well by NOT sexually molesting 13-year-old girls or minors with his sick sexual fantasies. This is NOT a so-called spiritual attack. It's just a basic lack of self-awareness and self-control. Period.

chubinwa:
Elrufai should sue reno for false accusation. He should provide evidence in court on how he's been responsible for killer herdsmen

Dapromzy333:
British-Nigerian boxing champion Anthony Joshua recently paid a courtesy visit to Ogun State Governor, Prince Dapo Abiodun, during his trip to Nigeria, News360 Nigeria reports.

In a widely shared moment on social media, Joshua showcased the Yoruba tradition of respect by fully prostrating to greet the governor. The gesture, reflecting his cultural pride, resonated deeply with many Nigerians.

Joshua, whose ancestral roots are in Sagamu, Ogun State, has consistently expressed his connection to his Nigerian heritage despite his global fame as a boxing icon.

The meeting, held at the Governor’s Office in Abeokuta, saw Governor Abiodun and his team warmly welcoming the champion. The governor later expressed his delight at the visit through his official X (formerly Twitter) account, where he shared moments from the encounter.

He wrote: “Today, we had the distinct honour of welcoming @anthonyjoshua, the world-acclaimed boxing champion and a proud son of Ogun State, to our office during his courtesy visit.

“Anthony Joshua’s remarkable achievements in the world of boxing continue to inspire not only the people of Ogun State but also millions across the globe. His dedication, discipline, and unwavering commitment to excellence are values we hold dear as a state.

“This visit is a testament to the bond we share as a people and our collective pride in the success stories that emerge from Ogun State. We remain committed to supporting our talents and creating an environment that nurtures greatness in all spheres of life.

“Together, we celebrate Anthony Joshua’s accomplishments and look forward to more victories as he continues to make Ogun State proud.”

https://news360ng.news/anthony-joshua-visits-ogun-state-governor-dapo-abiodun-prostrates-before-him/

malali:
El Rufai:
Hardworking and Industrious people JAPA so that they can earn a better life.

But the likes of Reno Omokri, despite living abroad Cannot earn a living abroad, because he doesn't have any skill and has not learnt any skill. So every 3-4 months, he comes to Nigeria to beg for Naira, So that he can go and pay his rent in Dollars.

Since Asiwaju floated the Forex Exchange rate, he inadvertently removed the subsidy in Reno Omokri's life. He has been affected, because now he needs to beg for more naira. He attacks people that have had the courage to do what he can never do which is "Contest and win an election"

Thats why he switches camp from Atiku to Tinubu to Obi

Like a Notorious Transgender prostitute in Lekki phase 1

zero8zero:
Former Presidential aide, Reno Omokri has responded to the immediate past governor of Kaduna State, Nasir El-Rufai.

This is coming after El-Rufai shared photos of Reno protesting against President Bola Ahmed Tinubu in London in 2022.

In the photos, Reno Omokri is seen holding a placard with the words: "No to a drug baron in Aso Rock."

El-Rufai added in the caption: "NIGERIA UPDATE – The interesting lifecycle of Wendell Simlin, also sometimes retained as a political mercenary by any person or government that can pay".


https://www.instagram.com/renoomokri/p/DENccIlMT8d/

diamond68:
hehe Chief I didn’t mean it like dat na, the point is that unlike many, and trust me many are that inclined, I just buy what I see. I know people who will travel to other states to buy bags of rice cheaper just to save a few bucks. People make unnecessary trips just to buy cheaper food. But at night same people can destroy 1 million Naira following ashewo in night club 🤷🏽‍♂️😆

Alright Alhaji take an easy sha for malmo wey you Dey. Abi na Amsterdam ? You no gree tell us oooo hehe 😄

diamond68:
it’s a tough place like everywhere else but you can still eat good out here . Some are still living great going to eat in restaurants where the Cheque is 100 k per plate. The weather is still great and the police are still friendly 😆😆

diamond68:
hey bro am not that much of a foodie or penny pincher to be sourcing for plantain. I buy what I see on the streets in real time. Place is oniru maruwa

diamond68:
I got it from this place called maruwa oniru. I think it’s a steal but that’s just my opinion considering the exchange rate that’s 1 dollars and some cents. I don’t think you can buy these for 1 dollar in the great ol USA. We are still living great out here. Just find a relative in USA to be sending you 20 dollars every week 😆😆😆😆😆 never ask for too much or they will block your phone but 20 dollars they will be happy to send now you can enjoy 9 plantains for 1 dollar like me 🤷🏽‍♂️🤷🏽‍♂️😆😆

Am sure all those places in the link have it dirt cheaper than 3k

diamond68:
hehe am wanted by the FBI. Just kidding. Yeah those bloggers are crazy. Always click baiting and switching up stories to draw people to their blogs. It’s stiff competition being a blogger

NewDigitalWorld:
FirstBank, the oldest bank in Nigeria and part of FBN Holdings’ entities has exited close to 100 senior staff members in what our sources describe as a major organizational shakeup.

According to a reliable source with direct knowledge of the matter, some of the bank’s top executives were asked to leave as part of its repositioning plan for 2025.

The exits appear to be part of a concerted effort by the holding company of the board, led by Femi Otedola, to introduce fresh blood into several leadership positions in the bank, the source further explained.

What we know

Our sources indicate that the board of FirstBank approved the exit of about 100 senior executives as part of the bank’s “corporate restructuring and repositioning,” following the confirmation of its new MD/CEO.

• Another source within the bank suggests some of the exits were voluntary, especially for senior executives who intend to explore other career prospects.

• Nairametrics also understands that the exits include a prominent executive director whose tenure was not renewed over mutually agreed circumstances.

• Information from the bank’s website shows it has about 13 members in its executive team, six general managers, 33 deputy general managers, and 37 assistant general managers.

FirstBank has been undergoing significant management and board shakeups since Femi Otedola assumed the role of chairman of the parent company.

Busy Year for Board Changes

The latest management exits at FirstBank follow a series of significant board changes made earlier in the year, as billionaire businessman Femi Otedola took the reins as Chairman of FBN Holdings.

These changes have marked a transformative era for FirstBank and its parent company, FBN Holdings, signaling a clear focus on repositioning the institution for long-term growth and stability.

• In March 2024, FBN Holdings announced the appointment of five elite directors, formally ushering in the Otedola era.

• This strategic move aimed to inject fresh perspectives and expertise into the group’s boardroom, paving the way for the transformational agenda under Otedola’s leadership.

• By May, Tunde Odukale, the Chairman of FirstBank Limited, exited his role, making way for Ebenezer Olufowose. Olufowose’s appointment as Chairman was seen as a critical step toward strengthening governance structures at the bank.

• In June, the bank further reshuffled its executive leadership, confirming the appointment of Olusegun Alebiosu as Managing Director and Ini Ebong as Deputy Managing Director.

• These appointments were part of a deliberate strategy to bolster the bank’s operational capabilities ahead of its ambitious repositioning plans.

• In October, the momentum continued with the appointment of Wale Oyedeji as the new Group Managing Director of FBN Holdings Plc.

These changes culminated in what has been described as one of the most active years for board and management transitions at FBN Holdings and FirstBank.

FirstBank share price is up 18.47% YTD and has been one of the better performers in 2024, compared to the rest of the FUGAZ.

FirstBank closed its N149.5 billion rights issue on December 30, 2024, as it aims to join the rest of the FUGAZ in meeting the recapitalization target set by the apex bank

Source: https://nairametrics.com/2024/12/30/first-bank-exits-100-senior-staff-in-major-reorganizational-shakeup/