This 36-year-old dude (Michael Ilesanmi) has to really step back and take stock of the situation and learn how the mind and emotions of women work... Especially an older 58-year-old Caucasian-American woman (who he's known since 2018) with a different sociocultural orientation.
He has to take charge of his dealings with this woman for the benefit of all if he still loves her and stop taking all these random negatives she's been giving him. If he doesn't love her anymore, them he should take a walk. NO woman respects a man who doesn't take charge... That's the truth because something will die in her from that moment onwards. Period.
motymop: why do I have to keep explaining to you that USDT isn't dollar or cant be used for international trade
USDT is a trading stablecoin and can only be used for speculative activities
Nobody is buying usdt to buy oil or to import goods or to pay school or medical fees, if they were really doing that then there will be demands for it to the tune of millions of dollars
In nigeria, the 24 hours volume of usdt on binance is just about $1.5m, that is enough to show that people arent demanding for it like you think in your head.
Traders are just playing a good game, speculating on it and making huge profit from from arbitrage trading
jeejo: I understand that what I am about to explain will earn me insults from a selected few individuals because the same culprits are active here on Nairaland, so I am ready for that as well.
If you go to Binance P2P, there is a heavy manipulation going on there, and from my deductions, most of the big Binance P2P Merchants are united in carrying out this manipulation. Some of them even have over 2 Million dollars worth of USDT in their Binance P2P Funding which begs the question whether these people are truly Nigerians or probably foreigners making money from destroying the Nigerian economy.
Many people might not understand the strategy these merchants use, therefore, I will try to break it down.
This is how the manipulation works:
1. Lets assume that the Naira to Dollar is currently exchanging at the Parallel market for 1,500 Naira. On Binance P2P, the group of Merchants will create multiple fake ads claiming that they will buy your USDT for 1,700 Naira(way above the parallel market price). I call these ads "fake" because they will set a minimum limit above 5Million naira, which means if you want to sell your USDT to them at this exorbitant rate that they created, you must be selling a usdt value worth over 5Million Naira at once. This strategy works in filtering out majority of average Nigerians that want to sell their USDT to these Merchants. Meaning these fake ads will remain at the top of the p2p "sell" section for as long as these group of Merchants want it to remain. And if by chance someone who has enough USDT to meet the minimum limit decides to sell to these merchants, they will simply cancel the trade, and create another ad.
2. Now because these group of merchants have filled the P2P "sell" section with these fake ads claiming to buy your USDT at an exorbitant rate of 1,700 NGN, they have automatically shifted the P2P price of Naira to USD to 1,700 Naira, and now they will be selling their USDT to the public under the "buy" section above 1,700 Naira. Now - unlike the fake ads they created with a minimum limit that is above 5Million Naira to discourage sellers for selling to them at this high rate - when they are selling their USDT at this already manipulated price, you will find limit as low as 4,000 Naira because they want to sell to the Public at the exorbitant price they created.
Binance P2P is the new AbokiFx where BDC operators get their current price of Dollar from. The fake price originating from there is in turn used by the BDC operators to set their Dollar selling prices even without any corresponding demand. But the interesting part is that these BDC operators won't buy from you at any rate close to the exorbitant price they are selling the dollar to you. Here in Benin city, even though the parallel market price of Naira is above 1,600 Naira, the Abokis hardly buy your dollar for above 1,500 Naira but they will sell to you only above 1,700 Naira.
Some people might argue that if Binance is to blame, how come the official exchange rate is now above 1,500NGN to 1 USD? The answer to that is simple. Each time the rate in the Parallel market moves up, the CBN is forced to also adjust official rates upwards in order to close the gap between both windows or else the black market rate will be too wide that it will create an irresistible opportunity for round-tripping.
There is a huge rot in the entire BDC system in Nigeria that I don't think this CBN governor has any idea how deep it really goes.
emkz: What is the difference between your point 1 and point 4 highlighted?
Where did I argue that USD and USDT are the same? Exactly why is your submission regarding this relevant to what you responded to?
As to your point that Nigerian lawyers should hold Binance for money laundering, is that not what I argued when I mentioned binance? Or your just cherrypick what you want? Is the ex-CEO of binance not being held in the US for money laundering?
You people who seemingly support Binance, what do your stand to gain if Nigeria's economy collapses?
You are right on one thing. I am not a crypto expert. Infact, some people approached me and asked me to invest in it. I attended some seminars and the facilitators were confused about it. So I refused to invest my funds in something I did not understand.
However, I saw a thread where someone explained how the forex market was being manipulated through binance. Since you are a binance and crypto expert, you can please explain the limitations of his analysis.
emkz: CBN Revokes Operational Licenses of 4,173 BDCs
The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), has revoked the licenses of 4,173 Bureaux De Change Operators.
The list of affected BDC operators is available on the Bank's website (www.cbn.gov.ng). The affected institutions failed to observe at least one of the following regulatory provisions:
• Payment of all necessary fees, including licence renewal, within the stipulated period in line with the Guidelines.
• Rendition of returns in line with the Guidelines.
• Compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.
The CBN is revising the regulatory and supervisory guidelines for Bureau de Change operations in Nigeria. Compliance with the new requirements will be mandatory for all stakeholders in the sector when the revised guidelines become effective.
Members of the public are hereby advised to take note and be guided accordingly.
Keeping that context in mind, I want to point out that there is still a massive subsidy in PMS, albeit in the FX portion of PMS Price, not the global price in dollars.
“The consequences of this subsidy are: The cost of gasoline in Nigeria is the lowest in Africa by far, which encourages smuggling out, further depriving Nigeria of value. Smuggling causes Nigeria to subsidize neighboring countries even while our economy struggles. The cost is hurting the entire budget, Federal and State, as critical programs cannot be funded to pay this subsidy. It is currently calculated to be about 1 trillion Naira/month.
richiemcgold: Antelope is gradually becoming endangered specie. Back then in the early 90s, they used to stray into our school compound. But no more again, not even inside the forest reserves.
I remember a certain morning around 1991 when we were on assembly ground, a student saw them grazing on the field and he raised alarm. You need to see the way over 500 students came after the antelopes in a big rush. At last we caught four antelopes life. Our Intro-Tech teacher forcefully collected the animals from us and locked them up inside the school lab. That was the last we heard of them. Some teachers are no way better than highway robbers.
@richiemcgold,
I'm curious about the antelopes that strayed into your school in the early 1990s... In what state did you school?
It's a fact though that most older educational institutions and even human settlements were established in the bushes or forests.
GistMedia0: A man was shocked to discover illegal drugs concealed inside a seemingly ordinary tuber of yam. The man had agreed to help a friend by taking the yam to someone in another country. However, upon closer inspection before his journey, he found packets of illegal substances cleverly hidden within the yam.
The man had agreed to carry the yam as a favor, not suspecting anything was wrong. But as he prepared to pack it for the trip, he noticed something unusual. Upon closer examination, he found small packets of illegal drugs carefully concealed inside the yam.
The discovery left the man in disbelief and confusion. He had no idea that the innocent favor he agreed to was connected to illegal activities.
When faced with evidence like that in the video, simply use latex gloves and do NOT leave your finger prints all over the "exhibit." Just make a video and let the law enforcement agents get the criminal drug baron or drug dealer arrested. Kudos to the man for being observant.
J3susFr3ak: Well...a Mixed Economy never really hurt anyone. Even the USA and the European Markets are not pure 100 percent free markets. If you follow the ideological differences between the American Democrats and Republicans there is always this tension with regards to if the free market can be trusted enough to efficiently control certain industries e,g. Sensitive utilities, certain types of public construction for instance.
The private markets could never have benevolently created your public roads, nuclear power plant or some mass public housing without being initially subsidized by tax dollars.
Canada and even the UK have a housing crisis because the pace of large subsidized housing construction has not kept pace with privately led housing construction (by the private markets which prefer more luxury type constructions) and thus the poor suffer the most.
My point is that a Mixed Economy allows for the utilization of both models to varying degrees in such a way both internal production and consumption are subsidized by accruing massive economies of scale that helps the poor in the long run.
The Mixed Economic model that you stated here is a FACT in most countries including China. I also emphasized on this same fact about mixed economic models when some posters on this Website ignorantly stated that Nigeria and the U. S. are free market economies or capitalist ecomomies just to justify the hike in the high cost of goods and services.
Bayo Onanuga responded to Binance’s position, stating that his earlier statement to the BBC had been misrepresented in the media.
He clarified that he never asserted the company had been informed about the fines or that the $10 billion figure was conclusively determined by Nigerian regulators.
“I said our government may impose heavy fines on Binance for what happened,” Onanuga explained. “I never said Binance had been informed about the fines or that it would definitely be $10 billion.”
“I only said the amount may be imposed, which is because nothing has been finalised yet,” Mr Onanuga said, placing repeated emphasis on the uncertainties around the fines.
IbeOkehie: Look, seriously. One of the best moves Nigeria can make now is to adopt Bitcoin as the national currency.
If anyone in Nigerian Government is reading this, take the idea and run with it.
As I've said before, the problems of Nigeria have very simple solutions. The real issue is the INTENTIONS of our elites and those in government. Do they want DEVELOPMENT or are they in it for themselves alone?
There's some simple policies that can make Nigeria richer than South Africa and Poland within one generation. It's about FREEDOM, freedom, freedom, let people pursue their needs with minimal government involvement. People KNOW what they need. A sound, valuable currency is one of them and bitcoin is a good fit...definitely better than dollars and naira. Anyway, let me go see how many dead bodies I can was today to earn some dollars
Good Luck to Nigeria.
Bitcoin is too volatile. The young 42-year-old dude (of Palestinian immigrant descent) who is the newly reelected President of El Salvador invested about $175 million of his adopted country's funds in BTC so far since 2021. He got reelected though because of his massive crackdown on the criminal drug gangs and dealers who caused major spikes in the homicide rate in El Salvador.
Because of the wild volatility of BTC, I wouldn't advice that countries adopt it... Only companies or individuals should do so as a form of diversified investment, and it must be funds they can afford to lose IMHO.
Mrzed: The Federal Government has slammed a $10 billion fine on crypto trading platform, Binance, over allegations of influencing the country’s forex crisis.
The special adviser to President Bola Tinubu on information and strategy, Bayo Onanuga, disclosed this Friday morning in an interview with the BBC.
According to Onanuga, Binance profited substantially from its “illegal transactions” in Nigeria while the nation suffered huge losses.
Schrodinger2: The Mall of America needs no introduction in the USA. Located in Bloomington, not too far from the St Paul International airport at Minneapolis, it is the single biggest mall in the whole of the US. Tourist all over the country fly down to see what the 5.6 million square feet mall has to offer.
I visited Minneapolis, Minnesota for a one week conference and decided to be somewhat adventurous. Had limited time to spend and couldn't explore every part of the mall. Although entrance is completely free, you've got to pay for other forms of activities. The good part is, clothes here are tax-free so you pay only for the cost of the clothing.
This mall has some mind blowing stats you just might be interested in - Over 500 retail stores, and home to world largest LEGO. If you spend 5mins in each store, it will take you 2 days to finish shopping.
So I took some random pictures from inside the mall. I have only shown photos from the amusement park region.
HonNL: El Salvador has become the first country in the world to formally adopt Bitcoin as legal tender after President Nayib Bukele said Congress approved his landmark proposal.
Latin America’s youngest president, who’s known to break from norms, said on Twitter lawmakers approved the legislation by a “supermajority.”
The 39-year-old leader has previously said that Bitcoin could boost the economy, help counter El Salvador’s low banking penetration rate and facilitate faster transfers for $6 billion of remittances a year.
The high-stakes plan to ramp up usage of the volatile currency adds to the bull case, just as the token struggles to recover from last month’s dramatic rout.
The danger of being a first-mover or adopter in a volatile instrument like BTC is that all that can go wrong will go wrong. BTC value eventually went south for some time, but the young President got reelected in February 2024 due to his massive crackdown on several alleged drug gangs and criminals thereby lowering that country's homicide rate from decades-long highs.
Botragelad: The successful targeting of the four cables, which are believed to belong to the AAE-1, Seacom, EIG, and TGN systems, marks a serious disruption of communications between Europe and Asia.
Four underwater communications cables between Saudi Arabia and Djibouti have been struck out of commission in recent months, presumably as a result of attacks by Yemen’s Iranian-backed Houthi rebels, according to an exclusive report in the Israeli news site Globes.
The successful targeting of the four cables, which are believed to belong to the AAE-1, Seacom, EIG, and TGN systems, marks a serious disruption of communications between Europe and Asia. Most of the immediate harm will be absorbed by the Gulf states and India, Globes said.
This is indeed irresponsible and a threat to the rest of sane folks in the global community. Instead of pussyfooting on this, it's time to unleash MAXIMUM military force on this insidious Iranian-backed Yemeni criminal group... The kind of MAXIMUM military force that they have NEVER seen before since the First Gulf War of 1990 against Iraq.
The Iranian clerics too must be taken down since they have relentless used proxies to instigate violence and terror attacks worldwide. I still remember just like yesterday the horrendous Pan-Am flight that was bombed in the air over Lockerbie, Scotland in the late 1980s which immediately sent shockwaves worldwide. If the sources of the prevailing threats at that time had been dealt with on time, that Lockerbie flight bombing (including the 2001 9/11 bombings in the U.S.) would NEVER have occured!
Those Yemenis are backed with Iranian-made drones and other intelligence information by the Shiite leadership of Iran.
It's unfortunate that the land (Iran) of Emperor Cyrus the Great (the Shah han Shah or King of Kings) of the Persian Empire has degenerated to this level of fueling crises of global proportions by proxy.
The rest of the civilized world has to wake up and robustly nip this in the bud militarily.
sukkot: So I am guilty of making prophecies that never pan out the exact time I say they would. It's just sometimes these energies are there but they are not activated by the universe. And so we know in part and prophesy in part. And so just because a prophesy did not fully pan out does not mean you don't know what you are doing, it's just that you can read the energies but will the energies be utilised by the universe ? Anyway I digress
Am looking at these upcoming energies, the supermoon on the 10th of March and then the eclipse on the 25th of March and finally the total solar eclipse and supermoon of the 4th of April. Now I am not going to bore you with the astrological Mumbo jumbo so let's just get straight to the point. The universal activation to attack and take down Israel would be approved on 10th of March but I believe the deed would start being done on 22nd of March in the midst of Ramadan and in Aries season, blowing the rams horn. I believe this would be the official declaration of the world war as Iran starts it's offensive on Israel. The USA would join the fray forcing Russia and China to join the fray and side with Iran. Lots of destruction and millions would be killed and by the total solar eclipse and supermoon of the 8th of April Israel and the USA would have been demolished and the new world order would automatically be established with Russia as the new global superpower and china as the new global economics power and the BRICS as the new global economic conglomerate force. Expect the whole of Europe after being conquered to be overan by Islam and Europe would be turned to an Islamic continent ruled by Islamic warlords from all over the Islamic world. The USA will decline and fall into third class status as the centre no longer holds and anarchy ensues. The brown peoples of America would see this as an opportunity to emerge and take power from the whites which would result in a civil war . Many African countries would join BRICS and stArt to thrive under the fair economic trade agreements. Africa would rise. So this 2024 is going to be very crazy. Towards the later part of the year as the USA and Europe descend into world war and civil war chaos there will be epidemic japada of Nigerian economic migrants from those places back to Africa as they flee these war torn locations . 2024 is a year of divine reversals and divine interventions and purge
Ready for lift-off in the month of March. But then since the middle of Ramadan is what you emphasize, I'm aware that Muslims don't fight or go to war during that period since it is holy to them.
When you say the Brown folks war against White folks, I assume you're referring to the Hispanics versus North European-American descendants.
What's gonna be the fate of Naija? A split up of the country or she stays the same? More economic turmoil and hyperinflation since there's a World War scenario with the disruption of global logistics supplies by sea, air and more. Then the likely Civil War situation would lead to the further tanking of the USD.
There are over 7 million Muslims of all ethnicities in the United States. That's huges to cause an internal rebellion and create enclaves in a place like Michigan just like Muslims of Asian stock are many in Birmingham, UK.
The Muslim population in the UK, France, Germany and Spain are some of the epicenters where an internal Muslim rebellion can take place in Europe while linking up with external Muslim fighters to take over European cities on multiple fronts just like you hinted in your post.
sukkot: like the wise man once said, vanity vanity, all is vanity
Whoa! Look at those huge gold bars Sukkot... Ephemeral stuff. Herbert Wigwe and Otunba Abimbola Ogunbanjo too just evaporated like vapour in that vicious copter crash in the Navajo Desert in Southern California.
The Rothschilds are indeed a family of seasoned super bankers. They tend to marry one another as first cousins in order to protect their financial and banking secrets within the family... European Jewish bloodline.
Business › Re: How To Link Your NIN, BVN To Your Bank Account by Konquest: 7:10pm On Mar 02, 2024
