Sukersoc: Well to cut the long story short, after stumbling on his thread, i contacted via email, and enquired about investment opportunities in Abidjan since he claimed to reside there. He then offered to show me and facilitate some business/investment we talked about.
I proposed a date of arrival, but he said he wont be available then because he'll be coming to Nigeria to bury his late Dad. We agreed another travel date, as well as other logistics. Thankfully, I made hotel reservations myself. I was simply to contact him on arrival. Mind you I don't speak French, so he was to help me on arrival. Well, I travelled to Abidjan, and from the moment I arrived, I kept call and messaging him for 3 days without response, only for the crook to chat me on the night of day 3, saying he had to make a quick dash to Abuja in Nigeria. Meanwhile we chatted just the night before my departure (less than 10hours before departure)
Thank God, I wasn't too stupid to put all my eggs in one basket, I would have been messed up big time in a country where I could neither understand nor speak thier language. If he comes here and denies my post, then I'll post our chats and possibly his own voice chats.
The guy is dangerous. I was skeptical at first when I observed some strange patterns in the way messages deliver to his WhatsApp, but when I eventually started conversing with him over voice, I gave him the benefit of the doubt.
Well, I'm sure he realised I was to smart for his con, and so he went silent on me. People like him make it difficult to trust Nigerians. I never knew someone could be so cold hearted.
So there is your explanation. Anyone dealing with him is dealing with a conman.
Indeed, it was WISE of you to have a Plan B for your Abidjan trip. I first visited Abidjan back in 1988 by air and stayed at "Hotel Ivoire" in the Cocody area of Abidjan and it was and still is a splendid city... That's why it's called the "Paris of Africa."
It's always a good thing to have video calls with people in order to carry out your due diligence next time. People like that can be very fickle in situations such as this especially those who haven't fully settled in and are still hustling in cities such as Abidjan.
Sukersoc: Guys this guy is a scam. Don't contact him for anything about Abidjan. He does not reside in Abidjan. He's not who he says he is. It will be unfair if I do not put out this warning after what he made me go through.
babakb: No, I said residence permit, not citizenship.
Go into Cote D'Ivoire with your Nigerian Passport, then go to their Police station and apply for residence permit which can be for 6 months to 2 years and it's renewable.
With your residence permit you can Open a bank account, Open a business, study, work, buy land and any other property, apply for Visa to other countries from there, even Marry if you like
You don't need to partner with any body to do all these.
jazzman7711: ''I visited your country and was never in any danger, and enjoyed myself throughout my stay, even though my Nigerian friends abroad had warned me not to go there, saying I would be kidnapped by bandits, robbed, and scammed. Please stop bad-mouthing your beautiful country to the world.'' - South African lady tells Nigerians.
Tbh though, based off of global media reports, there are specific locations within Nigeria and other countries around the world an international visitor shouldn't go to. You've got to be street smart, so, you don't get robbed, kidnapped for ransom or raped.
Follow the rules by carrying out FACT-CHECKS and personal threat checks when traveling internationally, and you're good to go. Trust your gut instincts and use your brain cells. Period. ~~~~~ ~~~~~ 14 Nigerians Declared Wanted by INTERPOL - Check Out the List!
Editorialtimes: Sokoto Airstrikes Target Bandit Hideouts, No Civilian Casualties Confirmed
Reports of alleged airstrikes on innocent villagers in Gidan Sama and Rumtuwa, two communities in Silame Local Government Area of Sokoto State, have been debunked as false.
Contrary to claims of civilian casualties, intelligence sources revealed that the strikes were precise military operations targeting hideouts of the Lakurawa bandits, notorious for terrorizing the region.
Abandoned Communities Turned Bandit Enclaves
Gidan Sama and Rumtuwa, previously abandoned by residents due to persistent banditry, had been repurposed as strongholds for criminal activities. Intelligence gathered over weeks, coupled with independent reconnaissance, confirmed the locations as active bandit hideouts before the operation was launched.
Prioritizing Precision and Avoiding Collateral Damage
A source involved in the operation explained the meticulous approach:
"We received consistent intelligence from the Sokoto State Government and security agencies. Independent surveillance confirmed the targets to avoid collateral damage. Precision is always our priority in air operations."
The airstrikes were described as a calculated effort to dismantle the Lakurawa bandits' network, with no reported impact on civilians.
Local Authorities Respond
The Chairman of Silame Local Government Area, Alhaji Abubakar Muhammad Daftarana, acknowledged the airstrikes but refrained from confirming any civilian casualties, citing ongoing assessments.
Further investigations corroborated that the areas targeted were uninhabited by civilians and exclusively used as bandit enclaves. No reports of burials, missing persons, or civilian injuries were received by local authorities.
A Clear Message to Criminal Elements
The successful operation underscores the Nigerian military’s commitment to dismantling banditry in the region while ensuring the safety of innocent civilians. The strike sends a strong message to criminal elements attempting to exploit abandoned communities as hideouts. Source: The Bureau Newspaper
TAO11: For (3): The Portuguese account says that the Ogane's kingdom is "some 20 moons" walking distance away from Benin kingdom because of "slow pace" travel.
Is Ife actually some 20 moons' walking distance away from Benin kingdom at some olden days "slow pace" ??
Here, there is a natural temptation to attempt determining the walking duration between Benin and Ife using Google maps.
The consequent error from this temptation would result from the fact that walking durations on Google maps are based on assumptions that become less realistic the longer distances get.
For example, Google maps will not factor-in the "slow-pace" which the Portuguese account clearly acknowledges.
It will not consider how many stops were made, and how many days were spent camping or resting for each stop.
It simply assumes a quite rapid constant pace of continous, no pause, non-stop movement, come rain-come shine, come day-come night, without sleep, without rest, through out the entire lenght of the trip.
This is obviously very impracticable. In fact, Google maps always warn, even for very short distances saying: "Use caution --- walking directions may not always reflect real-world conditions."
The blatant error inherent in an attempt to use Google maps to answer the earlier raised question thus becomes very obvious.
To then answer the earlier raised question quite correctly, it is important that one first determines what may have been the pace of long walking trip traditionally in this part of the world.
A piece of data which I find very useful to find this traditional pace is seen in C. Okojie cited in Ryder (1965), p.27.
He noted that it traditionally took from 4months to 6months to complete a walking trip from Uromi (Ishan) to Benin-City --- a distance of some 50miles.
Based on the foregoing highly invaluable piece of data given by Okojie, alongside the well-known distance betwen Benin and Ife (i.e.about 171miles); we can therefore estimate the duration it must have traditionally taken (in months) to journey from Benin to Ife.
Calculation: -------------------- (a) IF Ishan and Benin which are about 50miles apart took about 5months long traditionally.
(b) THEN Benin and Ife which are about 171miles apart would have taken about (171÷50)×5months long traditionally.
When evaluated, this walking duration from Benin to Ife, based on the available traditional data came to more than 17months.
In fact, to be very strict with the numbers it can be demostrated that 17months is precisely equivalent to 19moons.
Therefore, 17months have 517.089days in it typically.
How many moons, therefore, are there in 517.089days??
To answer this correctly, the number of days in one moon must first be established.
(b) Typically, 1moon contains 27.322days.
Based on this, the number of moons in 517.089days is equal to (517.089÷27.322)moons --- that is, 19moons.
In other words, 17months is equivalent to 19moons.
In sum, the "traditional" duration of just over 19 moons which it takes to journey from Benin Kingdom to Ife therefore comes to precisely match the some 20 moons' journey of the Portuguese document.
TAO11: As has been shown, scholars in our present times have established definitively that the Ogane is none other than the Ooni of Ife.
But for the sake of curiosity, I will be examining how the puzzles from (1) to (4) (especially (2) which says the Ogane lives to the east of Benin kingdom) was resolved.
For (1): Ogané is the Portuguese rendering of the actual indigenous Benin word to describe this "most powerful monarch."
In other words a certain name in Edo language ("??" ) became rendered in Portuguese as "Ogane".
Another example of European rendering is a Latin rendering of this same indigenous Benin word as Orguene, as seen on a 1525 map of Africa.
So what actually is the indigenous Benin word which is rendered in Portuguese and Latin as Ogane and Orguene??
By paying a special careful attention to the sounds, the Bini word Oghene seems to be the most plausible original Bini word which the Europeans attempted to render in their own tongues.
But did the ancient Binis ever use the word "Oghene" in relation to the "Ooni of Ife"??
The answer is a loud YES.
Starting with the most recent of the two evidences I will cite to prove this foregoing claim:
(a) In his "May 2004 The Benin-Ife Comnection", Omo N'Oba Erediauwa I noted emphatically that Oduduwa (who was the Ooni of Ife during his days) was known by the Benin people as Oghene n'Uhe.
(b) Citing different instances of Ife's political influence as exercised through the Ifa cult, Robin Horton alludes to a Benin tradition in his 1979 "Ancient Ife: A Reassessment" as follows:
"Yet another tradition, this time from Benin, tells how the oracle of the Oghene of Uhe ("Oni of Ife" ) forewarned the Oba of Benin of impending calamity a few years before the disastrous encounter with the British."
Reference: Robin Horton, "Ancient Ife: A Reassessment", Journal of the Historical Society of Nigeria, Vol 9. No. 4 (June 1979), p.124.
It therefore becomes clear at this point that the "Ooni of Ife" was known in ancient Benin as "Oghene" --- a 'name' which in European rendering became Ogane, Orguene, etc.
What about other three dilemas?? See next comments.
Bump.
PG 6. 2020
This brilliant submission right ABOVE has CLEARED up the vexatious origins of the European corrupted words/spellings, "Ogane or Oghene" which simply mean the OONI of Ufe (Ife).
TAO11: According to d'Aveiros (c.1480) in the recenssion of de Barros (1552), the Ogane was "the most powerful MONARCH".
From the Portuguese account, it is clear that no amount of paid Benin propaganda can twist anything to mean priest.
It clearly says "monarch" --- that is, king.
Moving on --- The account says the following about this "most powerful monarch":
(1) He is known (at least) in Benin kingdom as the Ogane.
(2) His kingdom is to the east of Benin kingdom.
(3) His kingdom is some 20 'months'' journey away "because of the slow pace" travel.
(4) He sends (to Benin kingdom) a small shiny brass cross, a shiny brass helmet, among other things, as a confirmation of the new incoming Oba of Benin.
(a) Who then is the Ogane of the Portuguese text?
(b) Have historians ever attempted identifying who he actually is?
(c) Or have they simply left the issue untouched for Nairalanders to figure out?
The answers to the questions (b) and (c) appear to be the most obvious.
And the answers are Yes and No respectively.
In fact, historians have long debated each other on the identity of the Ogane.
For example, Ryder (1965) opined that the kingdom of the Ogane is "most probably" in the Niger-Benue confluence --- a location in the eastern side of Benin.
He himself quickly noted the setback in his own probabilistic conclusion by stating that: "Many objections may be raised against such an argument, the most cogent being those which demostrate the well known links between Benin and Ife." --- Ryder, (1965), p.35.
Fast forward from the 1960s to our present time:
Have historians now settled this debate and come to a conclusion on the identity of this Ogane?
And this answer is yes!
Th historian, Adam Knobler (2016) points out this contemporary scholarly consensus as shown in the attachments below:
Having seen the contemporary scholarly submission (in our present time) on the identity of the Ogane in the Portuguese text, one may be then be curious to know how scholars came to resolve the dilema points (1) to (4) --- especially point (2) which talks about "east".
TAO11: The following shows a listing of all the reigns in Benin kingdom starting from Oranmiyan's all the way down to before Ovoranmwen's whose partial reign and imminent deposing marked the beginning of the British colonial take over of Benin's polity.
(A) Starting with Oronmiyan as the reference point, I have indicated the successive "third-reigns" with a "☆" for ease of following through.
And there are obviously eleven "third-reigns" in total.
(B) If, however, one contends that Oronmiyan was not formally Oba at Benin, and that the enumeration should start with Eweka I as the reference point; then the eventual total number of "third-reigns" would still remain eleven.
(C) Even if one argues that the tradition resulted from an after-thought subsequent to when the "first" Oba Eweka I had already left the scene, then the eventual total number of "third-reigns" --- starting thus with Uwakhuahen as the reference point --- would still remain eleven.
As I have since noted before now, this resulting total number of "third-reigns" (i.e. eleven ) matches precisely the total number of circular "burial pits" (i.e. "eleven" ) which Frank Willett noted that he found at Orun Oba Ado, when he conducted an archaeological excavation of the site.
Topman7: The 25 Largest Economies in the World by 2075: A Forecast by Goldman Sachs
In a groundbreaking report, Goldman Sachs has projected the landscape of the global economy in 2075, identifying the 25 largest economies. This forecast, based on extensive data analysis and economic modeling, offers a fascinating glimpse into the future, highlighting shifts in economic power and the emergence of new players on the global stage.
Methodology
Goldman Sachs' predictions are rooted in a comprehensive analysis of current economic trends, demographic shifts, technological advancements, and potential geopolitical changes. The methodology incorporates factors such as GDP growth rates, population dynamics, productivity improvements, and technological innovation. It's important to note that such long-term forecasts are inherently speculative and subject to change based on unforeseen global events and trends.
Overview of the Global Economic Landscape in 2075
Goldman Sachs' projection paints a picture of a world where Asia's economic clout is markedly pronounced, with China and India leading the charge. The list also reflects the significant growth of economies in Africa, the Middle East, and Latin America, indicating a more diversified global economic landscape.
The Top 25 Economies in 2075
1. China: $57 trillion
Growth Drivers: Continued technological innovation, a shift to a consumer-driven economy, and large-scale infrastructure projects.
Challenges: Aging population, environmental concerns, and the need for political and economic reforms.
2. India: $52.5 trillion
Growth Drivers: Demographic dividend with a young workforce, advancements in technology and digital infrastructure, and increasing foreign investment.
Challenges: Infrastructure development, addressing income inequality, and reforming education and healthcare systems.
3. United States: $51.5 trillion
Growth Drivers: Technological leadership, strong consumer market, and innovative capabilities in various sectors.
Challenges: Aging population, political polarization, and adapting to changing global trade dynamics.
4. Indonesia: $13.7 trillion
Growth Drivers: Strategic location for trade, growing middle class, and a focus on infrastructure and manufacturing.
Challenges: Political stability, environmental issues, and improving education and healthcare.
5. Nigeria: $13.1 trillion
Growth Drivers: Large and young population, potential in agriculture and energy sectors, and emerging technology sector.
Challenges: Political stability, infrastructure deficits, and diversifying economy beyond oil.
6. Pakistan: $12.3 trillion
Growth Drivers: Youthful population, potential in manufacturing and services, and strategic geographic location.
Challenges: Political stability, economic reforms, and addressing education and healthcare needs.
7. Egypt: $10.4 trillion
Growth Drivers: Strategic location, growing service sector, and government reforms in infrastructure and energy.
Challenges: Political stability, water resource management, and diversifying the economy.
8. Brazil: $8.7 trillion
Growth Drivers: Rich natural resources, agricultural and energy sectors, and a large internal market. Challenges: Political and economic stability, environmental concerns, and improving education and infrastructure.
Challenges: Demographic trends, energy transition, and maintaining its technological edge.
10. Mexico: $7.6 trillion
Growth Drivers: Manufacturing and service sectors, trade agreements, and proximity to the U.S. market. Challenges: Political stability, addressing crime and corruption, and economic inequality.
11. United Kingdom: $7.6 trillion
Growth Drivers: Financial services sector, technological innovation, and global trade relationships. Challenges: Post-Brexit economic adjustments, productivity growth, and regional disparities.
12. Japan: $7.5 trillion
Growth Drivers: Technological leadership, strong manufacturing sector, and a focus on innovation. Challenges: Aging population, public debt, and adapting to global economic changes.
13. Russia: $6.9 trillion
Growth Drivers: Natural resources, particularly in energy, and potential in agriculture and technology sectors. Challenges: Geopolitical tensions, economic sanctions, and diversifying economy beyond oil and gas.
14. Philippines: $6.6 trillion
Growth Drivers: Growing service sector, remittances from overseas workers, and increasing industrialisation. Challenges: Infrastructure development, political stability, and environmental vulnerabilities.
15. France: $6.5 trillion
Growth Drivers: Strong industrial and service sectors, technological innovation, and a skilled workforce. Challenges: Structural reforms, demographic changes, and maintaining competitiveness in the EU.
16. Bangladesh: $6.3 trillion
Growth Drivers: Rapidly growing garment sector, remittances, and developing sectors like IT and pharmaceuticals. Challenges: Political stability, climate change impacts, and improving infrastructure and education.
17. Ethiopia: $6.2 trillion
Growth Drivers: Agricultural potential, growing manufacturing sector, and large population. Challenges: Political instability, infrastructure needs, and managing ethnic divisions.
18. Saudi Arabia: $6.1 trillion
Growth Drivers: Oil wealth, economic diversification efforts, and investments in technology and tourism. Challenges: Oil dependency, regional geopolitical tensions, and social reforms.
19. Canada: $5.2 trillion
Growth Drivers: Natural resources, strong banking sector, and technological innovation. Challenges: Aging population, climate change impacts, and trade dependencies.
20. Turkey: $5.2 trillion
Growth Drivers: Strategic location, diversified economy, and a large, young population. Challenges: Economic stability, currency volatility, and geopolitical risks.
21. Australia: $4.3 trillion
Growth Drivers: Natural resources, strong service sector, and ties to Asian economies. Challenges: Geographic isolation, environmental challenges, and reliance on commodity exports.
22. Italy: $3.8 trillion
Growth Drivers: Manufacturing strength, tourism, and a skilled workforce.
Challenges: Political instability, public debt, and demographic trends.
23. Malaysia: $3.5 trillion
Growth Drivers: Diversified economy, strategic location in ASEAN, and growing tech sector. Challenges: Political stability, managing ethnic diversity, and economic competition in the region.
24. South Korea: $3.4 trillion
Growth Drivers: Technological innovation, strong manufacturing, and export-oriented economy.
Challenges: Geopolitical risks, aging population, and reliance on a few large conglomerates.
25. South Africa: $3.3 trillion
Growth Drivers: Rich in natural resources, developed financial and legal systems, and regional influence. Challenges: Political instability, economic inequality, and addressing unemployment and education.
.................
India's Economic Surge
India's projected rise to the second-largest economy globally by 2075 is a testament to its immense growth potential. This growth is attributed to:
• Demographic Dividend: India's large and youthful population is a significant driver of its economic growth.
• Technological Advancement: India's burgeoning tech industry and digital economy are key growth factors.
• Economic Reforms: Continued reforms in economic policies and infrastructure development are crucial for India's growth trajectory.
• Manufacturing and Services: India's focus on manufacturing under initiatives like 'Make in India', coupled with a robust services sector, particularly in IT and ITES, are pivotal to its economic expansion.
Conclusion
Goldman Sachs' projection for 2075 highlights a world where economic power is more evenly distributed globally, with emerging economies playing increasingly prominent roles.
This shift underscores the importance of economic reforms, technological advancement, and demographic factors in shaping the future global economic landscape. The rise of countries like India, Indonesia, and Nigeria, alongside the sustained economic influence of nations like the U.S., China, and Germany, paints a diverse and dynamic picture of the world economy in the latter half of the 21st century.
Topman7: ExxonMobil plans to invest $10 billion in Nigeria’s offshore oil operations, with a focus on developing its Owo deepwater project.
The American multinational also aims to invest $2.5 billion annually to boost production by 50,000 barrels of oil per day over the coming years, as well as maintain its current Nigerian operations.
The announcement follows a high-level meeting between ExxonMobil executives and Nigerian Vice President Kashim Shettima.
“This potential investment by ExxonMobil aligns perfectly with President Bola Tinubu’s administration’s vision for a more investment-friendly Nigeria,” said Vice President Shettima. “We are committed to creating an enabling environment for such transformative projects.”
“We are working closely with the office of Nigeria’s president to secure favorable fiscal arrangements that will make this significant investment possible,” said CEO of ExxonMobil Nigeria, Shane Harris.
How many Nigerian inventions are there in total including the ones you have not listed?
AI ChatGPT Response:
.....................
Including both the 100 listed inventions and any unlisted contributions by Nigerians, the total number would be difficult to determine precisely due to the following reasons:
Countless undocumented contributions:
Many Nigerian innovations, particularly in traditional knowledge systems, indigenous technologies, and localized solutions, remain unlisted or not widely recognized in global records.
Nigerians in the diaspora:
A significant number of Nigerians contribute to fields such as medicine, engineering, arts, and technology globally, which adds to the unquantifiable total.
Collaborative efforts:
Nigerians have played key roles in multinational research and innovation projects, though these contributions might not always be credited individually.
Given Nigeria's population of over 200 million and its significant global presence, the number of contributions, both documented and undocumented, could easily be in the thousands or more. ['more' meaning TENS of thousands]
If you'd like, I can delve deeper into a specific area or provide notable highlights for unrecognized contributions! .................. Source: AI (ChatGPT) .................
Topman7: . . 98. **Contributions to NASA’s Mars Rover** – By John Dabiri and other Nigerians.
Chei......I laugh in Greek.....
Lesson: Next time you see a SPACE SHUTTLE taking off and heading for Planet Mars or Planet Jupiter in outer space, before shouting ''CHAI! OYINBO MAGIC!'', first of all remember that there are NIGERIAN BRAINS INVOLVED IN THE BUILDING AND LAUNCHING OF THAT SPACE SHUTTLE.
moneymagnet: Its my Birth month yahhh… Looking at my life in retrospect i feel the need to share a little about myself just to motivate someone out there
-I am 30years of age -Graduated from the University sometime 2014 -Never ever Looked for a Job nor submitted a CV -Never involved in shady business -Got into Full time Trading April 2018 -Bought my first Car (actually cars) at age 27 Plural because i bought 2 cars in the same day all from Trading -Bought my first Landed property ever at age 27(13plots of land) all from Forex Trading -Spent over 2 Million naira just in Forex Courses alone through my Trading Journey
-I Make decent profits off Staring at chart opportunities with my laptop day in and day out
-To think i don’t even get to spend more than 5hrs the whole day on the chart
Wished i knew 7years ago what i know now and about to dish out to anyone who is priveledged to take this life changing course for almost Free…
Who would you rather tell you you can make a decent living off Trading even though the market is designed to see you fail!
Who would you rather take you by the hand and show you how to make money Legitimately from the comfort of your bedroom with just your laptop/phone.
moneymagnet: Volatility50index; Potential Sell opportunity, Price action confirmations from current zone and I go Short
Do You want to be able to know when is the best time to jump in on a trade setup / wait to identify Trade setups with higher probabilities of hitting Take profits than Stop loss. Then you wouldn't want to allow this opportunity pass by you. Follow below link https://www.nairaland.com/7205638/now-never
TimeManager: Economic and finance experts have said President Bola Ahmed Tinubu’s Monday media chat showed admirable grasp and clarity of thoughts on the nation’s macroeconomic outlook.
The financial markets reacted positively yesterday, in the first trading day after the presidential media chat.
The naira firmed up, it appreciated by four basis points to N1,540.33 per dollar. At the stock market, the benchmark equities index rose by 829.88 points to a new recent high of 102,186.03 points, implying net capital gain of N503 billion.
Reacting to the one-hour, live engagement between the president and senior journalists, business experts said the president showed a commendable understanding of policy expectations and outcomes, which could further reinforce confidence in the overall economy.
Hajiya Maryam Shettima, described the president’s media chat as a demonstration of strong leadership, which is already impacting more public confidence in his administration.
Managing Director, AIICO Capital, Dr Femi Ademola , said the president’s macroeconomic thoughts were in line with general expectations.
According to him, the presidential media chat provided very good opportunity to hear the thoughts of the president directly from him and he delivered his thoughts and actions quite very well.
“I am generally okay with his responses especially concerning the economic reforms such as fuel subsidy removal, the tax reform bills and the progress on security,” Ademola, a Chartered Financial Analyst (CFA), said.
He noted that while the president’s candour and lack of political correctness could be misread as lacking in emotion, the president showed confidence and ability to deliver on his electoral promises.
He, however said the government needed to justify the need for borrowing and its cabinet size by outlining clear deliverables expected from such decisions.
Be that as it may, the media chat is very welcome and I hope it continues regularly as it is an opportunity to inform and educate the people directly on what the government is doing.
Communication with the people should be honest, direct, simple and humble,” Ademola said.
Managing Director, Arthur Steven Asset Management, Mr Olatunde Amolegbe, said the president showed consistency of thoughts that reinforced confidence that with steady progress, Nigeria will gradually surmount current challenges.
He said: “I think on the economic front, the president was clear as to the challenges the economy is facing and what it will take to surmount them.
I am glad that he recognised that monetary policy could do only so much to tackle the issue of inflation and he articulated the fiscal and structural issues he would aim to tackle in order to control inflation”.
He noted that the move towards a full liberalization of the economy appeared hard on the citizen because of historic default to subsidies and patch-ups, adding that a continuation of the ongoing policies would lead to a sustainable economic rebirth.
“I believe if we stay the course, as the president insists he would, then there should be light at the end of the tunnel,” Amolegbe, a former president of Chartered Institute of Stockbrokers (CIS), said.
Managing Director, HighCap Securities, Mr. David Adonri, said Tinubu’s delivery was both inspiring and educative.
“I listened to President Tinubu’s first media chat, quite an inspiring performance by him. He exhibited sound knowledge of economics and public finance.
The programme was informative, engaging and confidence boosting.
“More of such chat should be organised to enable the public understand the president’s thoughts and the philosophy behind his administration’s policies, a glimpse of which he shared on Monday,” Adonri, a senior investment banker, said.
At the stock market, investors showed strong appetite across the sectors of the economy. Average year-to-date return for Nigerian equities climbed to 36.7 per cent, making Nigeria one of the three best-performing stock markets globally.
There’s nearly analysts’ consensus that Nigerian stock market would close the year stronger.
Analysts at Afrinvest West Africa said they expected the market “to sustain its broad-based bullish performance as investors continue with strategic portfolio realignment, ahead of the new year”.
Economic and finance experts have said President Bola Ahmed Tinubu’s Monday media chat showed admirable grasp and clarity of thoughts on the nation’s macroeconomic outlook.
The financial markets reacted positively yesterday, in the first trading day after the presidential media chat.
There is no doubting the fact that T Bills are be eternal investment securities with higher returns than most other money market instruments available in the Nigerian Financial system.
However, your calculations and assumptions are quite innacurate and may not potray the exact analysis for practical purposes.
As a guide, T Bills can be done from as low as N500,000 & not N50mm as quoted by a commenter. However certain investment buckets in the T bills market have a minimum of such (where you wish to determine or bid your own rate as against that to be set by the CBN during sales).
For savings accounts, interest is compounded monthly and not in simple interest format. You invest N10mm principal, in month one. By month 2 your Total amount becomes N10mm plus N30k interest. Therefore when calculating the interest for month 2, you no longer use N10mm but N10,030,000 as principal and incrementally so on till month 12.
You should be receiving some few thousand above your straight line calculation of N30k monthly time 12 months.
Also, T bills rate are guided by the MPR (Monetary Policy rate, which Is at 14% today). They are always lower than this rate, once they are issued by the CBN. T Bills are priced based on Tenors rather than amounts. So the interest rate for a 91 days differs from that of a 182 and 364 days (The lower the tenors, the lower the rates).
Also, unlike T Bills, Savings deposits could be negotiated (on a fixed term) & these rate could sometimes rival T bills in some banks, depending on the liquidity appetite for such banks at the time of your proposed investment.
T Bills have an advantage of having no WHT (Witholding Tax) payments, so you get your full interest, tax free, except for some few fees of less than N1,000 charged for transfer and monitoring.
In all, I'd go for a T Bill for higher returns, longer tem investment purpose and funds security. But a fixed deposit for shorter periods and if the funds needs to show on my account statements for related purposes.
Pradon my spelling/grammatical error... was typing in a rush in order to catch a space on the queue to go and vote Ganduje (Gandollars) in Kano this morning.
This is for the potential investors wish to understand the benefits of investing in Treasury bill(Tbill) as opposed to leaving their money in the savings account; and also to show you how Tbill investment differs from the money left sitting in your bank account. Below is a practical example.
N10m IN YOUR SAVINGS ACCOUNT: I have N10m(principle) to invest. If I leave the money in my GTB savings account(which I used to do), GTB would apply 0.3% to my N10m to determine my monthly gain,ROI, interest earned or interest capitalised. So, 0.3% of N10m = N30K monthly....N30K x 12 months = N360K yearly. As long as your principle and interest rate from GTB remain constant for the year, you'll receive N360K from GTB on top of your N10m. Therefore, your income statement on Jan. 1 will show that you're worth N10,360,000
N10m IN TREASURY BILL: We all remember the formula for simple interest, right? Simple interest(I) = Principle(p)xRate(R)xTime(T) OR I= P × R/100 ×T/364
Tenure options: 91 days, 182 days and 364 days. Assumed Rate and principle are 14% and N10m, respectively.
91 DAYS: I= N10m × 14/100 ×91/364, your automatic interest(ROI) = N350K(if you choose 3 Months)
182 DAYS: I= N10m × 14/100 ×182/364, your automatic interest(ROI) = N700K(if you choose 6 months)
364 DAYS: I= N10m × 14/100 ×364/364, your automatic interest(ROI) = N1,400,000(if you choose 1 year)
From above, your ROI from Tbill in 3 months is almost the same as your ROI from your savings account in 12 months. In fact, your ROI will be higher if interest rate from Tbill is greater than 14%.
BOTTOM LINE: Would you rather leave your N10m in the savings account for ONE YEAR and make extra N360K OR Invest your N10m in Tbills for ONE YEAR and make extra N1,400,000 on top of your invested capital? The choice is yours...
PLS NOTE: Consider principle and interest rate used above as random numbers, however calculations are 99.9% accurate. You may verify!
AmiableMosquito: The dishonest masters who unfortunately happen to be in the majority are the ones ruining the once effective apprenticeship system.
Just last month, I was listening to one who brought his case to the popular radio programme "Brekete Family", and lamented about how his master used him for 9 years (after initially agreeing on just 6 years) and left him without any form of settlement thereafter. He narrated how his boss would ask him and the other apprentice to come and wash clothes including the boss wife's panties in his residence. He bought bathroom slippers for them which he mandated them to wear always and warned them never to wear any other footwear apart from bathroom slippers which he would still seize anytime they "misbehaved", leaving them to walk bare footed as a form of punishment. It was really heart-wrenching to hear the guy's ordeal that morning.
There is also another man who lives very close to my house and who sells water tanks in large quantities. I see how he treats his apprentice whenever they visit and it makes me wonder if these men have any conscience at all.
Every labourer deserves his/her wages. I think it is better to sign agreements with enough witnesses and notarise it properly before embarking on the journey of apprenticeship.
zero8zero: Jude Eze looks frail. At his Orhom Orba village in Udenu LGA of Enugu State, Jude appears to be living in anguish of wasted years of apprenticeship in Cotonou, Benin Republic. He claims that his dream of becoming a self-made man before the age of 30 is now a mirage.
“I am 44,” he begins his story, with his pale hands shaking. “I served my master for nine years, from 2002. Two months to the end of my apprenticeship, my boss, Emeka Eze, took away the capital and gains in my shop to import motorcycle tubes and tyres from China. The goods turned out to be fake. That was how that business collapsed.”
Jude said his master explained to him the misfortune that befell his business. “I forgive him,” he says. “What would I have done? I returned home to learn carpentry, which is what I do now. I feel my master didn’t plan well.”
Ernest Nwabueze lives in Enugu. His apprenticeship foray took him to Gombe where he learnt selling of clothes. Ernest served his master for seven years, then the unfortunate happened. “My master claimed he was swindled by some dubious importers,” he says. “His business collapsed. We wrote an agreement before the commencement of the apprenticeship. Considering what happened, I forgave him.” Ernest is currently doing menial jobs to sustain his young family.
He raises a pertinent issue: “My master wanted to even sell some of his assets to settle me, but his family members refused. I see cheating because I generated money that he invested. He could have settled me, no matter the sum, from there.”
Ernest advises the youth to learn skilled apprenticeship instead of buying and selling. “If an apprentice learns welding or mechanics, he can use the knowledge to sustain himself even if his master decides not to settle him. Trading involves capital.”
Chukwuebuka Odo, residing at Iwollo in Ezeagu LGA of Enugu State, quit secondary education for an apprenticeship. “As the first son in my family,” he gives reasons, “I chose to undergo apprenticeship in Lagos for ten years. Towards the end, my master claimed he had no money to settle me because he had issues with his wife. I looked at all these and decided to take my destiny into hands. I stayed in Lagos briefly. Someone gave me some money which I used to transport myself back home. I returned with nothing.”
One of the shortcomings of the once-thriving Igbo apprenticeship system, according to him, is that some masters take their apprentices for granted. “There should be established plans to settle apprentices; not in the dying minutes. I recall some of my colleagues that were frustrated for minor reasons, such as drinking beer, having girlfriends.”
My Friend Died Mysteriously Doing Apprenticeship – Youth
Chizoba, 25, is from Umachi in Igboeze South LGA. “I’ll never do it,” he states. He claims the mysterious death of two brothers undergoing apprenticeship informed his stance. “They were killed overseas. One has been buried; the younger one is yet to be buried. Some masters assign dangerous roles to their apprentices. No one knows why two brothers should die. They were shot differently. I will remain in my Okada business.”
The fear expressed by Chizoba is shared by Mrs Juliana Odo, from Ezimo. “I can’t entrust my child upon anyone. There are many stories of disappearance, deaths and failure to settle these apprentices.”
Some Masters Are ‘Occultic’ – Patent Medicine Dealer
Cajethan Nnadi is a veteran patent medicine dealer. “At least, ten apprentices have passed through me,” Nnadi hints. “Four of them today run their respective pharmaceutical companies. Some masters belong to cults. I won’t belong to any cult to evade settling my apprentice. I would rather inform the person to learn and be settled by his people. But if such a person agrees to serve me for the stipulated time and conducts himself ethically, I will never disappoint him.”
Nnadi, however, alleges that some apprentices are thieves. “Some apprentices have stealing traits,” says Nnadi. “No matter what, they will steal from their masters. Some build houses. In that case, don’t blame the masters for sacking them.”
Swearing An Oath A Solution!
Oliver Eze owns a thriving building materials company at 9th Mile, Udi LGA of Enugu State. “I normally assign a shop to each at a stage of the apprenticeship. I don’t expect them to be hungry or not to dress well. But they are forbidden to steal my money or embark on capital projects while under me. They swear an oath. Faithful ones receive my blessings, and they always do well. There is joy in making apprentices great.”
Igbo Boys Shun Apprenticeship For ‘Yahoo Yahoo’ – Welder
Onwuka Eze, a welder, seems fulfilled doing his job along the Enugu-Makurdi expressway. Asked the cause of the disinterestedness among Igbo youths to go into apprenticeship, Onwuka snaps, “Yahoo yahoo! They don’t want to learn skills even if you make it free. Some complain about settlement. But let them learn first. They will be looking at the incomes of their masters. I advise our youth to be patient because skills give cool money.”
Benjamin Ugwu, fashion and designer at Nsukka, shares the same opinion, “Young boys don’t want to learn skills,” he affirms. “Yahoo-yahoo is trending everywhere. How sustainable, I don’t know! When they see their age mates below 20 making millions of naira, they feel apprenticeship is a waste of time.”
On refusal of some masters to settle their apprentices, Ugwu asserts, “I can’t generalize. If the person is calm and follow the ethics of the learning, I believe most masters will happily settle their apprentices. Writing an agreement should be done.”
The Scheme Can Be Revived – Nnadi
Uchenna Nnadi, director general of Nsukka Chamber of Commerce, Industries, Mines and Agriculture, agrees that the Igbo Apprenticeship System (IAS) is a means of transmitting and creating wealth. He traces its origin to 2000 BC during the era of iron ore smelting work at Leja in Nsukka LGA. He also agrees that it was the weapon that re-launched the economy of Ndigbo after the Biafran war.
“The scheme is both an incubator and venture capital for MSMEs,” he states. “It is a self-contained system with little or no external support, including government recognition. Yet it has produced globally notable ambassadors. Despite the enormous strengths and opportunities inherent in IAS, there are also challenges based on the fact that it thrives on the informal sector.”
The government neither regulates nor funds it, he says, adding that the implications include poor research and development on IAS, as well as lack of public laws and rules guiding IAS. “It is neither recognized nor integrated with Nigeria’s formal educational system,” he says. “This often leads to the master not settling the apprentice and/or the apprentice stealing the master’s money with no satisfactory arbitration system for both parties. Some masters had taken to initiating themselves and their apprentices into cults. The above challenges have made many masters rather seek sales girls and boys other than apprentices.”
To make it functional, Nnadi suggests Igbo town unions engage Southeast stakeholders, such as the South-East Chamber of Commerce, the academia, traders’ associations, lawmakers, and government, to begin to create formal rules for the Igbo Apprenticeship System. “If it is integrated into the mainstream educational system, Southeast governors should anchor fiscal incentivization of Igbo Apprenticeship System,” he added.
Nze Kanayo Chukwumezie is the founder of Maka Odimma Igbo, which is championing the revival of the Igbo apprenticeship system. “This scheme is responsible for what Igboland is today,” he narrates. “Knowing that Igbos were reduced to £20 each after the civil war irrespective of the amount you have in the bank, any system that contributed to this phantom leap is worth promoting. It is the apprenticeship scheme that did that magic.”
He regretted the abuses that had killed the scheme. “Some masters frame up accusations against their apprentices, especially towards the end of their apprenticeship to evade settling them,” says Kanayo. “Also some apprentices milk their Oga till they are caught. There was one apprentice building a duplex in his village while still serving.”
He explains that his group has pushed for the formalization of the system: “Its formalization as advocated by my group is to checkmate such abuses in line with global best practices. We advocate a central system where every apprenticeship contract shall be registered from towns to regions with clear terms. Because incomes can stop coming, we want the masters to deposit a certain amount into a consolidated account that can only be released to the apprentice at the end of the scheme. If there be any misconduct by the apprentice, the master shall report it immediately to the body for action.
“We also want to introduce this scheme in our schools to enable our youths that cannot calculate or read and write to take classes in English and maths, even if evening or weekend classes. We plan to have a central certificate issuance system for all people that successfully complete the scheme with the master as one of the signatories with the central and regional heads.”
He recalls with joy that the apprenticeship scheme has drawn the attention of Harvard Business School which adopted it as a vibrant business model in 2021. “It is therefore today acknowledged as the world’s best business model. We the owners should take it to a higher level,” he canvasses
There Should Be Legislation To Make It Binding – Lawyer
Barr Ken Ike is a constitutional lawyer. He admits that most times, the terms and conditions for the scheme are not secured by a written agreement.
“Due to the verbal nature of the terms and conditions, any mishap to the master will exonerate him from the responsibility assumed upon taking up the young adult,” Barr Ike states. “There are also incidences of abuse of the young adult either by his master or someone who was expected to coach the young adult. The young adults may suffer undue peer influence which could lead them astray, especially when the master is not prudent or meticulous.”
He proffers the solutions. “There has to be a formal agreement to guide and protect the interest of the parties. The government should intervene by raising the bar of protection available to the young adults by providing the minimum age for entry and security for their entitlement upon completion. If concerted efforts are made to make the terms and conditions for the scheme more transparent and secure, it will serve a very useful purpose in the empowerment of young adults, not only in Igbo land, but it will enhance the country’s gross domestic product.”
On the subconscious and conscious levels, some humans are deeply self-centered and greedy. It's the way of the "human animal" especially if he/she finds himself or herself born in an ethno-cultural vortex that worships quick money and he/she can do ANYTHING criminally negative to get it regardless of the opinions and feelings of others.
Culture › Re: . by Konquest: 6:26am On Dec 26, 2024*. Modified: 7:14am On Dec 26, 2024
TAO11: You’re obviously an illiterate that simply managed to master some spellings. The very screenshot you attached debunks the comment you wrote.
You can read below for more details and be educated:
(1) The idea that Ekaladerhan (Ogiso Owodo’s last son) is one and the same person as Oduduwa was first made-up out of inferiority complex by the Edos in the 1970s.
The Edo guys involved in this fabrication are:
(a) S.B. Omoregie in "Edo History", 1970 (b) E. Akenzua in “Benin was never a Republic", 1971 (c) D.U. Edebiri in "Whence the Igodomidos", 1970, and (d) A. Iyare in "Bini, Ife Dynasties", 1973.
As is to be expected in their amateurish works, they could not name a single source or informant for their totally strange account.
To make it all worse, during his coronation of 1978-9, the incoming Omo N'Oba N'Edo (Oba Erediauwa) announced this unsubstantiated fabrication for the first time to the Edo public. He also did that out of a mix inferiority as well as political/legal necessity against the Ogiamen lawsuit.
(2) However, this fabrication of attempting to equate Ekaladerhan as one and the same person as Oduduwa has been debunked and trashed (in academia) as a hoax, that is -- an interesting nonsense.
For example, D. M. Bondarenko who is the world's leading authority on precolonial Benin History today has the following to say on pages 67-68 of his "Advent of the Second (Oba) Dynasty (2003)" in relation to this fabricated account:
"Finally, there are the apocryphal versions of Benin oral tradition [wherein] Ekaladerhan ... later ... left Gwato for Ife. ... and became her first ruler under the name of Oduduwa.
However, a student of ancient Benin might feel obliged to reject the apocryphal versions without hesitation as deliberately unauthentic.
There are no their records made before the early 1970s*, while among common people the story of Ekaladerhan that ends with the Prince's banishing from Benin and subsequent dethronement of his father, the last Ogiso Owodo, is known (and was recorded hundred years ago)*. There is no doubt that the apocryphal versions are not ancient and are not popular. Their authors are representatives of the nationalistically-minded part of the Bini intelligentsia who are seeking to ground the idea of an exceptional antiquity for their people and claims for its exclusive part in the sociopolitical life of independent Nigeria*. Behind such pseudohistorical studies by intellectuals, as if harmless, one can make out serious problems of the country, interests of political clans based on their members' ethnic community*. Not accidentally, the apocryphal versions were first published in a Benin City newspaper and then, as academic debates around the founder of the Oba dynasty took the shape of severe polemics (political by its nature) between the Bini and Yoruba historians in the central Nigerian press*.
(3) On the contrary to the above obvious 1970s fabrication on Ekaladerhan, Bini traditions has long been recorded by Europeaans to the effect that the Oba dynasty of Benin originated from Ife.
For example, H. Ling Roth (1903) quoted Captain Roupell’s Officials 1897 account gathered from Benin that the first king of Benin was a Yoruba man from Ife.
Another example is of Oba Eweka(II) who in the 1920s informed an European visitor, H.L. Ward-Price that his great-lord (Oghene) lives in Ife.
He added that he must pray to this "Oghene" every morning (at the illumination of the first sun rays at dawn), before he prays to the Alaafin, before he then prays for himself, and then for all Yoruba kings.
See: H.L. Ward-Price, Dark Subjects (London, 1939), p.238.
(4) A final example will be on the tradition of sending certain remains of deceased Benin Kings (their heads to be precise) back to Ife for burial at a designated site for the purpose.
(a) The Bini traditional Chief J. Uwadiae Egharevba (who is the first indigenous Edo to document Bini traditions from the 1930s) documented this custom too. He writes:
"The head of the royal corpse was subsequently exhumed and taken to the royal ancestral grave at Ile-Ife; but this was done in every third reign."
J.U. Egharevba, Benin Law and Custom, (CMS Niger Press, Port Harcourt, 1946), p.72.
(b) Dr. R.E. Bradbury (who devoted years to intensive anthropological field work on Benin and the Edo-speaking peoples, and who is the outstanding authority on the subject) is also said to have documented similar customs while among the Binis.
A.F.C. Ryder notes on footnote 10 of his "A Reconsideration of the Ife and Benin Relationship" as follows:
"In a personal communication, Dr R.E. Bradbury points out that 'the Edo speak of the messengers who carried the Oba's remains to Ife taking about three years over the journey."
(c) Frank Willett is also noted to have said that the last ocassion of the practice of sending the exhumed heads of Benin Kings to Ife was in the year 1888.
D.M. Bondarenko makes a note of this statement in his "Advent of the Second (Oba) Dynasty" as follows:
"These sources point at the Benin Oba's succession from the Ooni of Ife expressed in ritual forms. Particularly, "as a recognition of this fact deceased rulers' heads were sent to Ife for burial at Orun-Oba-Ado site ... last time this happened in 1888. In its turn, a bronze depiction of the head was usually sent back from Ife to Benin" (Willett 1982:22)."
cc: LegendHero
Bump... From Page 17.
@TAO11, I appreciate your massive historical insights on this thread DEBUNKING distortions from revisionist and backed up your inputs here with massive FACTS and EVIDENCE from archival sources. Happy Holidays and have a great 2025 ahead.
1. "These sources point at the Benin Oba's succession from the Ooni of Ife expressed in ritual forms. Particularly, "as a recognition of this fact deceased rulers' heads were sent to Ife for burial at Orun-Oba-Ado site ... last time this happened in 1888. In its turn, a bronze depiction of the head was usually sent back from Ife to Benin" (Willett 1982:22)."
3. Right BELOW is the coronation ceremony speech VIDEO of the 40th Oba, the current Oba Ewuare II of Benin on October 20, 2016, affirming that Oranmiyan His DIRECT Male Ancestor came from Ile Ife in Osun State and that Oranmiyan was the FIRST EVER Oba of Benin After the Ogiso Dynasty Ended over 800 years Ago:
Oba Ewuare II Told the Whole World That his Father is from Ile Ife and he is the Descendant of Oduduwa
Prince Oranmiyan (the grand son of Oduduwa who came from his hilly place of Oke Ora just 8 miles away from Ufe or Ife) came through the Yoruba town of USEN in Ovia South West LGA of Edo State where his biological OLDER brother Prince Afelogiyan was the FIRST EVER ruler or Oba.This is why USEN folks greet one another with the morning family salutation: "DELAUHE" meaning "How is UFE or Ife or Uhe" and they do NOT deny their direct Ufe (Ife) ancestry unlike their paternal cousins and relatives in the Palace of the Oba of Benin since the time of Oba Ewuare II's father (Oba Erediauwa) have shamelessly done because of the past Ogiemien family revolt which has NOW been settled and the Ogiemien family have gone back to status quo.
Travel › Re: How To Get Settled In Abidjan by Konquest: 4:04pm On Dec 26, 2024*. Modified: 4:49pm On Dec 26, 2024
