Litmus's Posts
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Didi2d:A country like Nigeria is perfect for new tech, we need to bravely embrace these changes and not adopt the policy of " waiting until we are ready" because an ultra diverse nation like Nigeria will never be ready for anything. Diverse opinions will inform you Nigeria is or was not ready for independence, religions, democracy, plains, trains, automobile, industrialization, internet up to starlink and even Modernity if you give them the chance. |
UK's judicial system is part of the economic arm (Capitalism) of thire Democratic system. Their courts are a major income earner for the economy when foreigners are trapped within the circuit i.e the case including the lucrative appeals; domestically, it is a part of the taxing ecosystem or industry if you prefer. Nigeria go dey haemorrhage money to the UK coffers through the bankrupting of this Ekweremadu fella.... |
I wish Nigerians understood just how terrible African/ Black people are. |
Ckonnet:Are the haters Nigerians? You don't know the identity of people typing so keep an open mind. |
Nigeria does not take Nationality and Nationhood seriously. This is among out top ten problems. As far as Nigeria is concerned, Nigeria belongs to all the Muslims of Africa. Nigeria has two passport, the official Green back Nigeria Passport and the unofficial White back Islam practitioners passport. |
https://www.youtube.com/watch?v=THchHkphqyI Wind and solar accounted for 22 per cent of the electricity generated in the EU in 2022, overtaking natural gas (20 per cent) for the first time in history, according to the European Electricity Review published on Tuesday (31 January) by the energy think-tank Ember. Coal power share increased by just 1.5 percentage points to generate 16 per cent of EU electricity in 2022, with year-on-year falls in the last four months of 2022 as Europe prevented the speculated return of coal power amid the continent-wide energy crisis. “Europe has avoided the worst of the energy crisis,” said Ember’s Head of Data Insights, Dave Jones. “The shocks of 2022 only caused a minor ripple in coal power and a huge wave of support for renewables. Any fears of a coal rebound are now dead.” The analysis by Ember revealed that Europe faced a triple crisis in the electricity sector in 2022. Just as Europe scrambled to cut ties with its biggest supplier of natural gas, it faced the lowest levels of hydro and nuclear in at least two decades, which created a deficit equal to 7 per cent of Europe’s total electricity demand in 2022. Record growth in wind and solar helped cushion the hydro and nuclear deficit, according to Ember. Solar generation rose the fastest, growing by a record 39 terawatt-hours, TWh (+24 per cent) in 2022—almost twice its previous record—which helped to avoid 10 billion euros in gas costs. As part of this, 20 EU countries set new solar records in 2022. Lower electricity demand also helped reduce the deficit, the energy think-tank added. EU electricity demand dropped by 7.9 per cent in the last quarter of 2022 compared to the same period the previous year (-56 TWh), close in scale to the 9.6 per cent fall (-61 TWh) witnessed in the second half of 2020 when lockdowns were first imposed across much of Europe. Mild weather was a deciding factor, but affordability pressures likely played a role, alongside energy efficiency improvements and citizens acting in solidarity to cut energy demand in a time of crisis, the analysis highlighted. Just one-sixth of the nuclear and hydro deficit was met by coal. Coal generation rose by 7 per cent (+28 TWh). As a result, EU power sector emissions rose by 3.9 per cent (+26 MtCO2) in 2022 compared to 2021. According to the think-tank, it could have been much worse: wind, solar and a fall in electricity demand prevented a much larger return to coal. In context, coal’s rise was not substantial: coal power remained below 2018 levels and added only 0.3 per cent to global coal generation. Coal power in the EU fell in all four of the final months of 2022, down 6 per cent year-on-year. The 26 coal units placed on emergency standby for winter ran at an average of just 18 per cent capacity. Despite importing 22 million tonnes of extra coal throughout 2022, the EU only used a third of it. Countries are as committed to phasing out coal as they were before the crisis. As noted in Ember’s press release, gas generation was almost unchanged (+0.8 per cent) in 2022 compared to 2021, despite record-high prices. Fossil gas generated 20 per cent of EU electricity in 2022, up from 19 per cent the previous year. However, this trend is expected to change drastically in the coming year. Long-term trends in electricity demand per capita in CEE EU-wide electricity demand per capita has remained broadly flat over the last two decades, Ember’s analysis noted. In 2000, it was 6.2 megawatt-hours (MWh), rising only slightly to 6.3 MWh in 2022. However, this varies at the country level, according to the analysis. Countries in the CEE region such as Hungary, Croatia, Poland and Lithuania have seen moderate increases whereas western European countries like Germany, Spain and France have seen demand per capita decline. Renewables to continue breaking records in 2023 As stated in Ember’s press release, the latest industry indications suggested that in 2023, Europe’s transition to wind and solar will continue to grow amid the energy crisis. As a result, Ember estimated that fossil generation could plummet by 20 per cent in 2023, double the previous record from 2020. Coal generation will fall, but gas generation, which is expected to remain more expensive than coal until at least 2025, will fall the fastest, according to Ember. “We are seeing a remarkable acceleration in the pace with which renewable energy is being built. Especially for offshore wind and rooftop solar, the numbers are impressive. It’s clear that European citizens want to benefit from cheap, clean energy. It shows that our target of 45 per cent renewables by 2030 is ambitious but entirely feasible,” said Executive Vice President for the European Green Deal, Frans Timmermans. “Europeans know that we need to wean ourselves off fossil fuels. Renewables are crucial to tackle the climate crisis and cut air pollution. They are also crucial to end our dependence on Russian fossil fuels. The ongoing energy crisis will still bring another difficult winter, but the more renewables we have, the more sovereign we are in our energy supply.” https://ceenergynews.com/renewables/renewables-historically-overtake-gas-in-eu-electricity-generation-says-report/ |
Kobonaire4:Or Nigeria failed him; Africa failed Nigeria; the World failed Africa; the Universe failed the world;God failed the universe and Fail failed God! |
From the perspective of majority of the world's realistic people, the Jappanese people of Nigeria often appear no different to the character the woman is portraying. So if she is surreptitiously mocking the Jappa crew, then good on her. ![]() Nigeria doctors tip-toing through Nigeria's hospitals damp corridors, turning thire noses up at "smelly" patients, rusty beds and hollow oxygen tanks and saying, "Urrgh, this place is so tardy, I must relocate to New York's sophisticated hospitals" are no different. |
Obviously, if she was actually traumatised, she would have asked the Okada to stop and let her off. I've only watched a fraction of the vid so I may be wrong in suggesting that the girl was attempting satire. The satire was possibly mocking Nigerians generally for how Nigeriains moan and complain about everything, often ridiculously. |
If Nigeria doesn't print her own currencies - as people argue - then how could Nigeria hope to be in full control of its distribution ? |
Nigeria is the first West African nation to gain independence, doing so in 19-sixty- something or other. The remaining parts of West Africa remain French assets. And, eh, banish those thoughts ( I know you're thinking it) Nigeria's political candidates trooping to Chatham House isn't evidence Nigeria remains under British rule. |
Conquered territory: Nigeriens, Chadians, Beninoise trading French colonial currency on former Nigerian border lands annexed for them by the French expeditionary forces we call Terrorists. I'm sure they don't trade New or old Niara in Bakassi annexed for Cameroon by France through the tool of European courts. |
OP advice would be more practically useful and helpful by listing a few online realtor and company names complicit in such practices - in his estimation . There isn't an overwhelming number of them selling or pedalling Lagos land and properties to diasporans (Nigerians, black Americans and West Indians) by advertising online, utilising showy video presentations. Their numbers are limited on YouTube for instance and prominent. I'm sure they have presence on Nairaland too. Naming would force these suspects or provide them opportunity to prove thire business genuineness and assure/reassure interested parties. |
MasterTeeUSA:You misunderstand the true intent of the type of posters you're responding to with this post. They don't give a damn about poor people in Nigeria or any of that. They are at best trivial minded types and at worst the embodiment of all the negetives responsible for the backwardness of black people and Africa. Some are likely unhappy just because Starlink is in Nigeria and not right now in other parts of Africa where thire true loyalties are, for example Ghana, South Africa or some other godforsaken shithole. This type fear that the entire world has time to sit around watching developments in Africa. So this type spend a lot of time on social media misrepresenting the reality of Africa. They try to give the impression that where they come from in Africa is more developed than Nigeria, hoping that this drives visitations and investment to thire country and away from Nigeria. They are waging a low level but often treacherous sort of economic war against Nigeria, a war of which Nigerians are largely unaware. Then another type view all things through the prism of party political affiliation. This simple minded type worry that any positive development in Nigeria might be attributed to the party in power and so they strive to poo-poo any development in Nigeria. |
“I started paying WAEC fees for every student in Lagos, whether you are Igbo or Yoruba or Hausa .”But not for Isoko students; kai, Isoko must break away from this contraption! ![]() We go declare, Boycott Ogogoro Joints Tuesdays and wreck the Nigeria economy..... |
The Hindenburg Report Today we reveal the findings of our 2-year investigation, presenting evidence that the INR 17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. Gautam Adani, Founder and Chairman of the Adani Group, has amassed a net worth of roughly $120 billion, adding over $100 billion in the past 3 years largely through stock price appreciation in the group’s 7 key listed companies, which have spiked an average of 819% in that period. Our research involved speaking with dozens of individuals, including former senior executives of the Adani Group, reviewing thousands of documents, and conducting diligence site visits in almost half a dozen countries. Even if you ignore the findings of our investigation and take the financials of Adani Group at face value, its 7 key listed companies have 85% downside purely on a fundamental basis owing to sky-high valuations. Key listed Adani companies have also taken on substantial debt, including pledging shares of their inflated stock for loans, putting the entire group on precarious financial footing. 5 of 7 key listed companies have reported ‘current ratios’ below 1, indicating near-term liquidity pressure. The group’s very top ranks and 8 of 22 key leaders are Adani family members, a dynamic that places control of the group’s financials and key decisions in the hands of a few. A former executive described the Adani Group as “a family business.” The Adani Group has previously been the focus of 4 major government fraud investigations which have alleged money laundering, theft of taxpayer funds and corruption, totaling an estimated U.S. $17 billion. Adani family members allegedly cooperated to create offshore shell entities in tax-haven jurisdictions like Mauritius, the UAE, and Caribbean Islands, generating forged import/export documentation in an apparent effort to generate fake or illegitimate turnover and to siphon money from the listed companies. Gautam Adani’s younger brother, Rajesh Adani, was accused by the Directorate of Revenue Intelligence (DRI) of playing a central role in a diamond trading import/export scheme around 2004-2005. The alleged scheme involved the use of offshore shell entities to generate artificial turnover. Rajesh was arrested at least twice over separate allegations of forgery and tax fraud. He was subsequently promoted to serve as Managing Director of Adani Group. Gautam Adani’s brother-in-law, Samir Vora, was accused by the DRI of being a ringleader of the same diamond trading scam and of repeatedly making false statements to regulators. He was subsequently promoted to Executive Director of the critical Adani Australia division. Gautam Adani’s elder brother, Vinod Adani, has been described by media as “an elusive figure”. He has regularly been found at the center of the government’s investigations into Adani for his alleged role in managing a network of offshore entities used to facilitate fraud. Our research, which included downloading and cataloguing the entire Mauritius corporate registry, has uncovered that Vinod Adani, through several close associates, manages a vast labyrinth of offshore shell entities. We have identified 38 Mauritius shell entities controlled by Vinod Adani or close associates. We have identified entities that are also surreptitiously controlled by Vinod Adani in Cyprus, the UAE, Singapore, and several Caribbean Islands. Many of the Vinod Adani-associated entities have no obvious signs of operations, including no reported employees, no independent addresses or phone numbers and no meaningful online presence. Despite this, they have collectively moved billions of dollars into Indian Adani publicly listed and private entities, often without required disclosure of the related party nature of the deals. We have also uncovered rudimentary efforts seemingly designed to mask the nature of some of the shell entities. For example, 13 websites were created for Vinod Adani-associated entities; many were suspiciously formed on the same days, featuring only stock photos, naming no actual employees and listing the same set of nonsensical services, such as “consumption abroad” and “commercial presence”. The Vinod-Adani shells seem to serve several functions, including (1) stock parking / stock manipulation (2) and laundering money through Adani’s private companies onto the listed companies’ balance sheets in order to maintain the appearance of financial health and solvency. Publicly listed companies in India are subject to rules that require all promoter holdings (known as insider holdings in the U.S.) to be disclosed. Rules also require that listed companies have at least 25% of the float held by non-promoters in order to mitigate manipulation and insider trading. 4 of Adani’s listed companies are on the brink of the delisting threshold due to high promoter ownership. Our research indicates that offshore shells and funds tied to the Adani Group comprise many of the largest “public” (i.e., non-promoter) holders of Adani stock, an issue that would subject the Adani companies to delisting, were Indian securities regulator SEBI’s rules enforced. Many of the supposed “public” funds exhibit flagrant irregularities such as being (1) Mauritius or offshore-based entities, often shells (2) with beneficial ownership concealed via nominee directors (3) and with little to no diversification, holding portfolios almost exclusively consisting of shares in Adani listed companies. Right to Information (RTI) requests we filed with SEBI confirm that the offshore funds are the subjects of an ongoing investigation, more than a year-and-a-half after concerns were initially raised by media and members of parliament. A former trader for Elara, an offshore fund with almost $3 billion in concentrated holdings of Adani shares, including a fund that is ~99% concentrated in shares of Adani, told us that it is obvious that Adani controls the shares. He explained that the funds are intentionally structured to conceal their ultimate beneficial ownership. Leaked emails show that the CEO of Elara worked on deals with Dharmesh Doshi, a fugitive accountant who worked closely on stock manipulation deals with Ketan Parekh, an infamous Indian market manipulator. The emails indicate that the CEO of Elara worked with Doshi on stock deals after he evaded arrest and was widely known as a fugitive. Another firm called Monterosa Investment Holdings controls 5 supposedly independent funds that collectively hold over INR 360 billion (U.S. $4.5 billion) in shares of listed Adani companies, according to Legal Entity Identifier (LEI) data and Indian exchange data. Monterosa’s Chairman and CEO served as director in 3 companies alongside a fugitive diamond merchant who allegedly stole U.S. $1 billion before fleeing India. Vinod Adani’s daughter married the fugitive diamond merchant’s son. A once-related party entity of Adani invested heavily in one of the Monterosa funds that allocated to Adani Enterprises and Adani Power, according to corporate records, drawing a clear line between the Adani Group and the suspect offshore funds. Another Cyprus-based entity called New Leaina Investments until June-September 2021 owned over U.S. $420 million in Adani Green Energy shares, comprising ~95% of its portfolio. Parliamentary records show it was (and may still be) a shareholder of other Adani listed entities. New Leaina is operated by incorporation services firm Amicorp, which has worked extensively to aid Adani in developing its offshore entity network. Amicorp formed at least 7 Adani promoter entities, at least 17 offshore shells and entities associated with Vinod Adani, and at least 3 Mauritius-based offshore shareholders of Adani stock. Amicorp played a key role in the 1MDB international fraud scandal that resulted in U.S. $4.5 billion being siphoned from Malaysian taxpayers. Amicorp established ‘investment funds’ for the key perpetrators that were “simply a way to wash a client’s money through what looked like a mutual fund”, according to the book Billion Dollar Whale, which reported on the scandal. ‘Delivery volume’ is a unique daily data point that reports institutional investment flows. Our analysis found that offshore suspected stock parking entities accounted for up to 30%-47% of yearly ‘delivery volume’ in several Adani listed companies, a flagrant irregularity indicating that Adani stocks have likely been subject to ‘wash trading’ or other forms of manipulative trading via the suspect offshore entities. Evidence of stock manipulation in Adani listed companies shouldn’t come as a surprise. SEBI has investigated and prosecuted more than 70 entities and individuals over the years, including Adani promoters, for pumping Adani Enterprises’ stock. A 2007 SEBI ruling stated that “the charges leveled against promoters of Adani that they aided and abetted Ketan Parekh entities in manipulating the scrip of Adani stand proved”. Ketan Parekh is perhaps India’s most notorious stock market manipulator. Adani Group entities originally received bans for their roles, but those were later reduced to fines, a show of government leniency toward the Group that has become a decades-long pattern. Per the 2007 investigation, 14 Adani private entities transferred shares to entities controlled by Parekh, who then engaged in blatant market manipulation. Adani Group responded to SEBI by arguing that it had dealt with Ketan Parekh to finance the start of its operations at Mundra port, seemingly suggesting that share sales via stock manipulation somehow constitutes a legitimate form of financing. As part of our investigation, we interviewed an individual who was banned from trading on Indian markets for stock manipulation via Mauritius-based funds. He told us that he knew Ketan Parekh personally, and that little has changed, explaining “all the previous clients are still loyal to Ketan and are still working with Ketan”. In addition to using offshore capital to park stock, we found numerous examples of offshore shells sending money through onshore private Adani companies onto listed public Adani companies. The funds then seem to be used to engineer Adani’s accounting (whether by bolstering its reported profit or cash flows), cushioning its capital balances in order to make listed entities appear more creditworthy, or simply moved back out to other parts of the Adani empire where capital is needed. We also identified numerous undisclosed related party transactions by both listed and private companies, seemingly an open and repeated violation of Indian disclosure laws. In one instance, a Vinod Adani-controlled Mauritius entity with no signs of substantive operations lent INR 11.71 billion (U.S. ~$253 million at that time) to a private Adani entity which did not disclose it as being a related party loan. The private entity subsequently lent funds to listed entities, including INR 9.84 billion (U.S. $138 million at more recent substantially lower exchange rates) to Adani Enterprises. Another Vinod Adani-controlled Mauritius entity called Emerging Market Investment DMCC lists no employees on LinkedIn, has no substantive online presence, has announced no clients or deals, and is based out of an apartment in the UAE. It lent U.S. $1 billion to an Adani Power subsidiary. This offshore shell network also seems to be used for earnings manipulation. For example, we detail a series of transactions where assets were transferred from a subsidiary of listed Adani Enterprises to a private Singaporean entity controlled by Vinod Adani, without disclosure of the related party nature of these deals. Once on the books of the private entity, the assets were almost immediately impaired, likely helping the public entity avoid a material write-down and negative impact to net income. Adani Group’s obvious accounting irregularities and sketchy dealings seem to be enabled by virtually non-existent financial controls. Listed Adani companies have seen sustained turnover in the Chief Financial Officer role. For example, Adani Enterprises has had 5 chief financial officers over the course of 8 years, a key red flag indicating potential accounting issues. The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. Shah Dhandharia seems to have no current website. Historical archives of its website show that it had only 4 partners and 11 employees. Records show it pays INR 32,000 (U.S. $435 in 2021) in monthly office rent. The only other listed entity we found that it audits has a market capitalization of about INR 640 million (U.S. $7.8 million). Shah Dhandharia hardly seems capable of complex audit work. Adani Enterprises alone has 156 subsidiaries and many more joint ventures and affiliates, for example. Further, Adani’s 7 key listed entities collectively have 578 subsidiaries and have engaged in a total of 6,025 separate related-party transactions in fiscal year 2022 alone, per BSE disclosures. The audit partners at Shah Dhandharia who respectively signed off on Adani Enterprises and Adani Total Gas’ annual audits were as young as 24 and 23 years old when they began approving the audits. They were essentially fresh out of school, hardly in a position to scrutinize and hold to account the financials of some of the largest companies in the country, run by one of its most powerful individuals. Gautam Adani has claimed in an interview to “have a very open mind towards criticism…Every criticism gives me an opportunity to improve myself.” Despite these claims, Adani has repeatedly sought to have critical journalists or commentators jailed or silenced through litigation, using his immense power to pressure the government and regulators to pursue those who question him. We believe the Adani Group has been able to operate a large, flagrant fraud in broad daylight in large part because investors, journalists, citizens and even politicians have been afraid to speak out for fear of reprisal. We have included 88 questions in the conclusion of our report. If Gautam Adani truly embraces transparency, as he claims, they should be easy questions to answer. We look forward to Adani’s response. Initial Disclosure: After extensive research, we have taken a short position in Adani Group Companies through U.S.-traded bonds and non-Indian-traded derivative instruments. This report relates solely to the valuation of securities traded outside of India. This report does not constitute a recommendation on securities. This report represents our opinion and investigative commentary, and we encourage every reader to do their own due diligence. Please see our full disclaimer at the bottom of the report Introduction https://hindenburgresearch.com/adani/ |
Africa happened to Nigeria ![]() For all of Military rule's falut's, it isolated Nigerians from the rest of the world and Africa. In so doing, it inadvertently preserved the traditional informed qualities of Nigerians. |
Any scientific discoveries with India mentioned in the article automatically puts me off reading any further. Blacks should beware of why White people are always trying to push India to the forefront. India is like their tool, some sort of bulwark against China and hegemony insurance against black people. Problem with whites is that they are unable to exist in the world in terms of equal partnerships and universal harmony moving forward only in terms of hierarchies and world domination. |
Which of these is made out of polymer? |
LocalStandard1:Don't mind him, some on here are just Nigeria blind. Even if, for example, the Kenyan money was a square piece of antelope dung, he would say it was better than the Nigeria one and those like him would celebrate. He posted infantile, over-designed notes from all over Africa that are just as, classless, banna Republic looking as majority of their flags. It's people like that who are happy to dump the superior things of Nigeria for the inferior ways of other places in Africa. |
BigDawsNet:You're spoiling Nigeria image more than they are. Here's why: when people all over the world read that some Nigerians in Ethiopia jail are pleading with their Nigeria government to intervene with Ethiopia governments to be repatriated to Nigeria to serve thire full term, people automatically think that Ethiopia prisons most be really deplorable, then they go on to wonder if Ethiopia's justice system can be trusted to prosecute the right accused individuals justly throughout the system or if the Nigerians have been wrongly imprisoned. They may then imagine that Ethiopia is poor and these Nigerians are bound to be suffering human abuse and extreme degradation in overcrowded, purgatory-like conditions and so on. The above is how majority of people around the world think when they read that people in third world prisons are crying out for one type of help or another. But you had to go label Nigerians, quote: "Nigerians with PHd in Criminality". It could even be argued that you are evil, Selfish or both. This because you're endangering innocent Nigerians by stereotyping Nigerians. Evil- if you're not Nigerian; selfish, if you're Nigerian. |
Wipper7000:Your suggestion requires brains , shouting while dancing and shooting guns in the air is more labour intensive like digging roads and carrying hods that require no thinking, which is why donkeys are just as capable labourers. |
Majority of humans in every nation are stupid. The most progressive nations are those whose majority stupid interfere the least in national affairs. See my signature. Note also India's majority stupid and Caribbean majority stupid... they don't interfere much in national political affairs, they just get on with life, making the most of what life throws at them. |
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