₦airaland Forum

InvertedHammer:
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Do you know the paper work involved to underwrite an insurance policy for a manufacturing/processing company?

Insurance covers risks. And the insurance company will want to know your operations just the same way banks require

details for business loans. If your business is not standard, no loans. If your insurers cannot insure you, no deals.

And insurance companies want to make sure the business is not high risk (wink wink which includes no QC)

I can't hold your hand to guide you. Educate yourself.

SMH. Ignorance is bliss.

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Looool... once again, you have shown that you are just a social commenter who hasn't really been on the field.
Takibg out an insurance in Nigeria is as easy as abv.
As a matter of fact, insurance companies are begging to have companies take out policies with them.

First of all, oil business does not fall into the manufacturing and processing sector.
They fall into the mining and refining sector.

Secondly, insurance policies only covers what the customer wants them to cover.
I run a company and I took out a yheft and fire insurance.
The insurance company has no business with quality control. If you are a higher risk business, your premium would be higher. Its a win win for the insurance company.

Lastly, a bank is out to make business and giving viable loans is one of them.
If you got a registered business that is up to date on tax and all constitutional requirement, you can easily access a loan if you got a collateral or very convincing projections of profitability and repayment.

Take your own advise and educate yourself. Ignorance can be pardoned but boasting in your ignorance is just ridiculous.

InvertedHammer:
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Quick to disparage but bereft of ideas.

What do you think is the essence of CAC registration and insurance? It should bring in Quality Control.

Do I have to spell out everything for you? Jesus Christ!

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Cac registration and insurance does not in anyway bring in quality control.
You don't need a degree to know that insurance only protects the company from loss and cac registration makes the company liable to taxation and other things of course.

Department of petroleum resources are the people in charge of approving tank farms after quality checks and all necessities have been met.

Do you know the implication of a contaminated or improperly refined jet fuel?


Don't be so confident in your ignorance

InvertedHammer:
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Necessity is the mother of invention.

Get all the illegal refineries in SS to register with CAC and procure insurance.

Give them daily allocations. They refine, sell and pay applicable taxes. This will defeat unnecessary round-tripping.

More people will join this new gold mine.

Bingo!

It is not a rocket science after all.

/

Till their product wrecks your car or causes an industrial disaster due to contamination.
Refinery goes beyond changing crude to end products.
They should meet up to standard before any license be granted

lolaxavier:
That is what Dasuki and Jonathan turned our military to...

Come on nah!
Our military has always been sub par.
I am not a jonathanian but lets be realistic.
How come we credit all the good things to buhari and all the bad things to jonathan?
The leader should take all the credit and all the blame.
Right now, buhari is in charge and he hasn't done better
?

there is obviously more to this.
SHE ISN'T THE ONLY FIRST TIME TRAVELLER.
our immigration people will beg for money but they are never ever imposing.


anyway, i believe bribery and corruption of any kind should be severely dealt with

UPDATED

Ladi Kwali (c.1925-1984) was a Nigerian potter.

She was born in the village of Kwali in the Gwari region of Northern Nigeria, where pottery was a common occupation among women. She learned to make pottery as a child using the traditional method of coiling. She made large pots for use as water jars and cooking pots from coils of clay, beaten from the inside with a flat wooden paddle. They were decorated with incised geometric and stylised figurative patterns. Following the traditional African method, they were fired in a bonfire of dry vegetation

Her pots were noted for their beauty of form and decoration. Several were acquired by the Emir of Abuja, in whose home they were seen by Michael Cardew in 1950. In 1954, she joined Cardew's pottery training centre in Abuja, its only woman potter, where she learned to throw pots on the wheel. She made dishes, bowls and beakers with sgraffito decoration but also continued to produce pots using her traditional hand building and decorating techniques. Most of these were glazed and fired in a high-temperature kiln and therefore represent an interesting hybrid of traditional African with western studio pottery

Through Kwali's contact with Cardew, she and her work became known in Europe, Britain and America. In the late 1950s and early 1960s, her work was shown to great acclaim in London at the Berkeley Galleries. She became Nigeria's best-known potter, was awarded a doctorate and was made MBE in 1963. The Abuja Pottery was renamed the Ladi Kwali Pottery and a major street in Abuja is called Ladi Kwali Road.

Her picture appears at the back of the Nigerian 20 Naira bill.

https://en.wikipedia.org/wiki/Ladi_Kwali

CENTRAL MOSQUE NOT BURNT.
This will go down on record

SHE IS TRYING TO TELL YOU THAT YOU SMELL FOUL DOWN THERE.
PLEASE IMPROVE YOUR HYGIENE.
I CHANGE MINE ATLEAST ONCE A DAY BUT MOST TIMES, I DO NOT WEAR BOXERS

Nice

kolaaderin:
My Fcmb allows 400 daily and my gtb gives 1k daily, I could still cummunate 1400 dollars on those two accts in a day.

Thanks.
Will work on getting new accounts then!

deking:
The first Few trips where necessitated by the poor handling of the Boko Haram issue. Can anyone tell me specifically any of the trips the president should not have made and with good reasons.

Let us discuss as intellectuals and try not to use gutter language.

The trip to paris and malta is beyond wasteful and unnecessary.

kolaaderin:
Bros, I do not know what u mean by 1000 dollars a month, as at last week I still have access to spend a 1000 dollars per day on just one of my naira account.

Bro please which bankndo you use.
I use zenith.
I even called card services. That was how I knew its for a month,
Kfuckk zenith.

This is what i am facing now.
My business is about to take a plunge !

P.s. I have surplus balance on my account but cos the total transaction (Tax et al) is over 1000 usd, it wouldn't work.
My french business partners might feel i am playing nigerian 419 if i don't turn up this time around.

i am sad and sickened by this country.
High time i process my dual citizenship cos i cannot continue this way!!

Ioannes:
look bro, I get what you are saying.

everybody is feeling the pinch of what's going on right now with the economy.
like I have always said on this forum, it's probably going to get a lot worse before it starts getting better.

it's just like a child who fears the sting of an injection, yet that's his only hope of healing.

unless it can be shown exactly why the policies will hurt the economy both short term and long term, then I think we should watch with eagle's eyes and see what PMB is up to.

unnecessary negative and destructive criticisms won't do sh*it.

if you can come up with a cogent argument why his refusal to devalue the naira for a short term relief (but to strengthen the currency long term) will destroy the economy, then I will buy your idea.

for one I think we should be grateful that at least we have a president who abhors profligacy and wanton waste.

if we have ideas let's put them out there in the public space and debate them.

people calling PMB all sorts of names is way too early in this administration and not only shows a lack of maturity but tells us that there is more to it than meets the eye, like pain over an election loss to a Fulani man or something.

you really have no idea what is going on do you??
you have been carried away by the whole "change" and "fighting corruption" rhetorics that you have absolutely no clue what is going on.

I am on the field. I work in a field that takes me out of the country as much as 6 times a year and sometimes more.
Conducting business has never been more difficult my brother.

The political class are still laundering with ease but people like us have to go through the system.
I cannot travel with even 20k usd cash without running into trouble. Limiting our foreign transaction allowance to 1000 usd per month and also denying travellers BTA/PTA is just callous and insensitive.

Its almost impossible to survive in europe and america with 12000 dollars per year.a

House rent per month (low estimate) - 500 usd-800usd

will 200 usd be enough to feed and fuel your car or public trans.
even parking permit alone will zap the money.

luvinhubby:
And has the naira not taken a massive nosedive since then, 245 to $1.
Investors are scared stiff of this administration rudderless policy direction & are yanking off the funds from our economy hence the free fall of the naira.

Its crazy maine.
This current admin has no economic direction.
Nothing!!

The poor and middle class are getting tortured with no mercy.
Gej was weak but atleast I didn't have to worry about waking up one morning and realizing that I can't transac with my debit card outside the country.

Its so embarrassing.

QuotaSystem:
The reason investors are leaving is mostly because of our ejection from some popular bond indexes as a result of our governments policy to refuse devaluation of the Naira. So it's definitely not a lack of policy direction and its senseless to devalue at the moment when we are not exporting anything apart from oil.

The official CBN rate remains N198/dollar if I'm not mistaken.

Yeah.
The official cbn rate remains 198 naira but its virtually impossible to get it unless you are a top politician.
None of my friends have had access to dollar from nigeria in a couole 8f weeks.
All the banks we've gone to vlaim to be out of stock.
I am a patriotic nigerian and I am willinh to take some suffering if and only if the policies are working.
Unfortunately, naira is still on a free fall in the parallel market and the parallel market is the true reflection of the currency value.

Even when I use my pos or atm for foreign transaction, dollars still goes for 235 or there about and not at the regulated 198. And then I get the 1500 zenith bank charge.
Its callous of the government to make such policies.
We have nigerians schooling abroad with little or no source of income. How do you expect them to cope?

Ioannes:
when GEJ was dollarising the economy, throwing dollars all around for electioneering purposes, you didn't make a noise o, you were hailing him. see now? I hope you can see the effects on the economy.

I am really trying to make some sense out of your write up.
How come when good things happen people credit buhari but when its bad, all blames must go to GEJ.
When power supply momentarily increased, folks attributed it to buhari's body language.
Now, we neither have power nor fuel and somehow folks find a way to blame GEJ.
please lets Be objective.

I am one of those that didn't support GEJ during the last election but i must confess that things were far better financially during the time of gej.
Business was done with ease and the market forces determined the exchange rate. That is how its meant to be.

All these draconian policies cannot improve the lot of nigerians and Nigeria.
Students outside Nigeria with accounts in Nigeria will have a hell of a time soon!

SirJeffry:
Go back home, withdraw all the money you have in there, pack them in your luggage (not in your carry-on luggage) and return to the states shikena. Abi your visa don expire?

Lol.. if its that easy, everyone would do it.
Here are the challenges you would encounter

1- The last time i checked, the maximum amount you can travel with (undeclared) is 10,000usd. Anything more than that needs to be declared and that will definitely cause some issues. I am sure you have read several cases of people having their foreign currencies seized by the customs/immigration.

2- Withdrawing all my money and changing it to dollars would require i go to the black market/parallel market exchange folks. 1 dollar is 250 naira or there about. That would weaken my money greatly.

I hope these two reasons is enough for you.

Ghandi12:
Sorry brother, you are not alone in your trouble - so many people are experiencing similar pains in different forms.

But let us be clear about one thing - We can only blame Buhari government for lack of innovation, efficiency and responsiveness in ameliorating the current economic hardship.

In all honesty they cannot not be entirely held responsible for the root cause of the problem. Our current economic ailment has a number of sources:

% Number one cause is the deep fall and subsequent flatten of crude oil price in international market - This was achieved by joint effort of the USA and their friends.

% The former Government of GEJ left a latent disaster in the economy. They were patching-up things. Money was being stolen with recklessly, public officers were stealing without caution and finally the election spending was executed in millions of dollars. It is just a matter of time for these seeds of recklessness to manifest as we are having today.

PMB is trying to reverse many of the obvious anomalies in the system but so far one can make the following observations in his approaches:

% He wants most issues decided on his table - the implication is that many may die of hunger.

% He has problem trusting people (not like we can blame him though) - the truth is no human is spotless not even the Nigerian Angels.

% There are too many people at the top that do not believe in doing things the right way - he has been replacing people but his efforts are still appearing inadequate.

% There is also the factor unmotivated or unfit civil and public servants - they do not care about doing their job ; they just want salary and pension remitted at the end of the month.

% He also appears to enjoy too much hero-worshiping.

I only have one question.
How does limiting my transaction to a paltry 1000usd help nigerian economy.
Do you knoww that monthly house rent in western world is close to 1000usd on a monthly basis??
How does starving legit travellersnof bta help nigerian economy?

Its crazy naah!!

Xetima:
ROBOT. Use your brains please, or is it that you have none?

No need to yab him lol... na hin opinion he dey express.

sultaan:
You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

your comment is sooo shocking i feel the need to quote you twice.
brb..

sultaan:
You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

Please educate me.
How does limiting my foreign expenditure to a paltry 1000usd save Nigeria?
That is crazy nah?

The economy has no direction and investors are scared shitless.
The stock market is plummeting and investors are scared.

GEJ didn't do that!
Lets stop throwing blames back and forth and demand the best from whoever is in charge.

The truth is that your brother IS not under any obligation to assist you guys.

That being said, i have a feeling he must have being of help to the family but it just wasnt enough because the problems wouldn't stop coming.
Your expectation of him became too high and the disappointment became too deep. Don't forget he is a salaried worker and things may also be hard for him.

I want you to see things from his point of view before you conclude that he was selfish and carefree.
Did he or did he not render assistance to the family at certain points?
Was he or was he not invited to the burial of your parents?

Lastly, you sound entitled. Please kill that sense of entitlement cos in this world, all man go answer hin last name.

what is going on with the Nigerian Economy?
It virtually impossible to receive PTA/BTA (travel allowance)

you cannot withdraw/transact more than 1000usd/month in any foreign store/bank

Zenith bank charges me approximately 1,500 naira per ATM withdrawal abroad!

i am scared for Nigeria.

Edit:::::::::::::::;;;;;
Today, i realized i can no longer transact with my debit card on foreign websites.

Revolva:
but na true o d name sounds too igbotic....let dem change it...a. Bit to sometin cathy...n d logo sef...na true OP de talk but big ups to innoson motors

About the name being too igbotic: from experience i have learnt that the brand name matters but not as much as product popularity and acceptance. Once the product inundates the market and gets great sales, IVM brand can and would compete with any international brand.

dazekid:
Rather than write business proposal/plan and present it officially to his company and get paid you decided to write an article to post on nairaland and get comments. One sharp guy from innoson would catch this now and b getting promotion upandan.

there is nothing special in what he wrote.
Judging from his write up, i can bet he is not a businessman in Nigeria.
The terrain is rugged and Nigerian business is all about connection.
Innoson can design and tweak all he wants but no one would patronize him because 7/10 times, a Nigerian would pick a foreign product over locally manufactured goods.

All innoson needs is government support.
If he got a fraction of support that was given to the likes of dangote them, he would be an unrivaled champion in Africa.
Only GEJ paid him a measure of attention.
Buhari should continued the good work GEJ started but i really doubt he would.

bigtt76:
You need to know the number of people shopping online NOT on Konga and Jumia BUT online stores in the US and UK from Nigeria. Most banks have now limited your foreign transaction limit to $1000/month na that go bolster our currency? Na waaa for you o!

So so true.
They are stifling everything.
My pos transaction limit is 1000 usd and zenith bank charges me 1500N for ever transac.
Its crazy.

As sick as it sounds, this shittt turned me on.
Fuckkk the botcch.
I really dont care what she been through.