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 Sports › Re: Nigeria Vs Ivory Coast AFCON 2023 Finals (1 - 2) On 11th February 2024 by malali: 10:46pm On Feb 11, 2024 |
Primusinterpares:Win ?? With these midfielders and osimehen who is just walking around ? 1 Like |
| Sports › Re: Nigeria Vs Ivory Coast AFCON 2023 Finals (1 - 2) On 11th February 2024 by malali: 10:45pm On Feb 11, 2024 |
Oracle16:Na that lie go khee you !!! 2 Likes |
| Business › Re: Access Bank Announces The Death Of CEO Wigwe, Wife & Son by malali: 11:52am On Feb 11, 2024 |
How CBN Governor, Sanusi Lamido Sold Intercontinental Bank To His Friends! Street Journal’s investigations have revealed discrepancies in the sale of Intercontinental Bank Plc to Access Bank by the Central Bank of Nigeria. It has been discovered that the Central Bank Governor, Malam Sanusi Lamido waived a loan of N8.9Billion for Senator Bukola Saraki and another N16.2 billion loan for Aigboje Aig-Imoukhuede, the MD of Access Bank, to help them buy Intercontinental Bank over. Before now, there had been allegations that the former Kwara State Governor was at the background of a grand scheme to take over Intercontinental Bank. After Erastus Akingbola was sacked as the bank’s MD, Mahmoud Lai Alabi was named as his replacement. Alabi was until his appointment on Saraki’s payroll, being the Chairman of Shonga Farms, a Saraki initiative that brought displaced Zimbabwean farmers to Kwara State. It was reported then that one of the first steps Alabi took as MD was to write off Dr. Saraki’s N8.1 billion loan. Alabi also went ahead to sack Executive Directors of the bank who were replaced one after the other with staff of Saraki’s Societe Generale Bank. It might not be wrong therefore to conclude that Saraki has been running Intercontinental Bank by proxy since the new management took over. Questions are already being asked within the banking sector regarding how Aig Imoukhuede who is one of the biggest debtors on Intercontinental Bank’s list suddenly mustered enough resources to buy the bank. It was announced recently that Access Bank would acquire 75% stake in Intercontinental Bank for N 50 billion and combine both firms’ operations within one year of the merger. Shareholders of the latter had reportedly given their support to the merger, though it remains unknown whether the shareholders are aware of the situation or they just decided to ignore. The move which is plagued with irregularities has exposed the Central Bank Governor’s inadequacies. Sanusi Lamido Sanusi who has hitherto been seen as one of the most upright men in the country has come under criticism especially regarding the motive behind the sale of the bank. Questions are also being raised about his sincerity in the deal.Documents in Street Journal’s possession revealed that a N 16.2 billion loan was duly obtained from Intercontinental Bank Plc and signed for by Aig Imokhuede, the Access Bank MD in favour of United Alliance Company of Nigeria. Sequel to the Central Bank’s regulatory action on five banks two years ago, the apex bank published a list of defaulting customers of the banks who were asked to pay up to prevent appropriate legal actions from being taken against them by the apex bank. Those on the list were described by the Central Bank as the “largest debtors.” Incidentally, the third slot on the list of the largest debtors published on August 18, 2009 was occupied by United Alliance Company of Nigeria and the balance of its indebtedness as of May 31, 2009 was N 16, 247,686,168.18. Its Directors were listed as Mr. Aig Imoukhuede and Mr. Herbert Wigwe both of who are also Group Managing Directors of Access Bank. In a letter sent to the United Alliance Company from Intercontinental Bank Plc on November 19, 2009, terms of restructuring a N 10.3 billion loan facility were outlined. The loan had a tenure of 36 months and according to the purpose stated in the document, the time extension was to enable the borrower, i.e United Alliance to liquidate its outstanding indebtedness to Intercontinental Bank in line with its cash flow. While repayment was to commence in April, 2010, an interest of 18% was agreed on. And as part of the conditions, 894,690,600 units of Access Bank shares were listed as security as well as “joint and several personal guarantees of Mr. Herbert Wigwe and Mr. Aigoje Aig-Imokhuede for the full facility amount and accrued interest.” A letter from United Alliance to Intercontinental Bank dated 10th March, 2011 showed that Intercontinental Bank was being owed the sum of N 10.2 billion by United Alliance, a company headed by Aig Imokhuede, Intercontinental Bank’s new buyer. Street Journal gathered that as it stands, Access Bank’s two Group Managing Directors are indebted to Intercontinental Bank to the tune of N 10.2 billion. The March, 10 letter which was to help United Alliance get an extension for the repayment of the facility reads inter alia: “we would like to assure you of our absolute commitment in repaying the above facility. Repayments of these facilities are based on the cash flows generated by United Alliance through its investment management activities. However we are currently having difficulties matching our cash flow with the current agreed repayment dates. We hereby write to formally request for a change in the repayment dates of our facility to ensure that it synchronises with our cash flow in order to meet the obligation as the fall due.” It was also requested in the letter that the dates be moved to “at least the last day of the first week of each calendar quarter. In other words to at least the 7th day of April, July, October and December respectively of the year.” Another letter confirming the status of United Alliance was received by Intercontinental Bank Plc when the July fall date came. A letter signed by Chizoba Ufoeze on behalf of the United Alliance Company of Nigeria Limited read in part “we acknowledge the receipt of your letter dated 30th June, 2011 informing us of the portion of the term loan (N 1, 307, 465,060.12) due on 7 July, 2011. However, due to constrain in our cash flow, we humbly request a 30 day extension to clean up this obligation. We assure you of our determination to liquidate this term loan within the term specified in the offer letter and thanks for your patience. ” Many of those who know the internal workings of Intercontinental and Access Banks are yet to come to terms with how Aig-Imokhuede, one of the biggest debtors of Intercontinental Bank, who has asked for extension of repayment over and over would offer to buy the bank over and Malam Sanusi Lamido would go ahead to sell the whole Bank to him at a ridiculous N50 billion when even the quarterly profit of Intercontinental Bank is more than 50billion Naira. 5 Likes 2 Shares |
| Politics › Re: Tax Dispute: Multichoice Agrees To Pay N35 Billion To FIRS by malali: 4:57am On Feb 11, 2024 |
Pay up. 16 Likes |
| Politics › Re: Supply Shocks, Hyper-Inflation Cause Of Hunger, Hardship – CBN Governor, Cardoso by malali: 5:21am On Feb 10, 2024 |
BreconHills:[b]True, we are late to the game, but there is still hope, we have to decentralize government funding and look State-wise, Every state should work increasing its IGR Diversifying Nigeria's revenue streams beyond crude oil involves leveraging the unique resources and capabilities of each state. Here are specific examples of industries and sectors that each state could contribute to generating foreign revenue: Lagos State: Information Technology (IT) and Software Development: Lagos is the commercial and financial hub of Nigeria with a thriving tech ecosystem. The state can further develop its IT infrastructure, support tech startups, and promote software development services for export to international markets. Entertainment Industry: Lagos is known as the entertainment capital of Nigeria, home to Nollywood and a vibrant music scene. The state can capitalize on this by promoting film production, music festivals, and cultural events to attract international audiences and generate revenue through film distribution and music licensing. Kano State: Textile Manufacturing: Kano has a long history of textile production. The state can revitalize its textile industry by investing in modern manufacturing facilities, improving supply chain logistics, and producing high-quality textiles for export to global markets. Agro-processing: Kano is also known for its agricultural productivity. The state can establish agro-processing plants to add value to agricultural products such as grains, fruits, and vegetables before export, meeting international quality standards and increasing revenue. Rivers State: Oil and Gas Services: Rivers State, home to Port Harcourt, can leverage its expertise in the oil and gas sector to provide specialized services such as engineering, procurement, and construction (EPC) for oil and gas projects worldwide. Maritime Industry: With its strategic location along the coast, Rivers State can develop its maritime industry by investing in port infrastructure, shipbuilding, and maritime logistics services to facilitate international trade and maritime transportation. Ogun State: Manufacturing: Ogun State, located close to Lagos, can capitalize on its proximity to the commercial center by attracting manufacturing industries. The state can focus on automotive assembly, food processing, and consumer goods manufacturing for export to regional and international markets. Industrial Parks: Ogun State can develop industrial parks and special economic zones to attract foreign investors and provide a conducive environment for manufacturing and export-oriented industries. Anambra State: Pharmaceutical Industry: Anambra State can develop its pharmaceutical industry by investing in research and development, manufacturing of generic drugs, and pharmaceutical distribution networks. The state can produce high-quality medicines for export to African and global markets. Trade and Commerce: Anambra State, known for its vibrant markets and commercial activities, can promote trade fairs, exhibitions, and business conferences to attract international investors and traders, stimulating economic growth and generating foreign revenue. Kaduna State: Agriculture: Kaduna State has significant agricultural potential. The state can focus on large-scale cultivation of crops such as maize, sorghum, and soybeans, as well as livestock farming. Value addition through agro-processing and export of agricultural products can boost foreign revenue. Mining and Solid Minerals: Kaduna is rich in solid minerals such as gold, limestone, and gypsum. The state can develop its mining industry by attracting investment in mineral exploration, extraction, and processing, meeting international demand for raw materials and minerals. By leveraging their respective strengths and resources, each state in Nigeria can contribute to diversifying the country's revenue streams beyond crude oil and tapping into high-demand industries internationally.[/b] |
| Politics › Re: Niger Bans Bulk Sale Of Food Items, Orders Confiscation Of Trucks Carrying Food by malali: 4:41am On Feb 10, 2024*. Modified: 8:33am On Feb 10, 2024 |
This is an Intelligent Decision by Niger state Governor. [b]Controlling the open market to prevent bulk buyers from causing scarcity for small retail buyers involves implementing various measures and strategies: Regulatory Policies: Implement regulations to prevent hoarding and price manipulation by bulk buyers. This may include setting limits on the quantity of goods an individual or entity can purchase within a specific timeframe. Market Monitoring: Establish mechanisms for monitoring market activities to detect irregularities such as hoarding or price gouging. This could involve regulatory bodies, market surveillance teams, or technology-driven solutions like data analytics to track market trends and detect anomalies. Price Controls: Consider implementing price controls or price ceilings on essential food items to prevent excessive price hikes that disproportionately affect small retail buyers. However, this approach should be carefully implemented to avoid unintended consequences such as black markets or reduced supply due to unprofitability. Supply Chain Management: Improve supply chain management to ensure efficient distribution of goods from producers to retailers. This includes addressing logistical challenges, improving infrastructure, and promoting transparency and fairness in the supply chain. Support for Small Retailers: Provide support and incentives for small retailers to enhance their purchasing power and competitiveness. This could include access to credit, training programs, and cooperative purchasing arrangements to leverage economies of scale. Market Information: Facilitate access to timely and accurate market information for both bulk buyers and small retailers. This empowers market participants to make informed decisions and reduces the likelihood of sudden shortages or price spikes. Promote Competition: Encourage competition in the market by reducing barriers to entry for new players and fostering a diverse supplier base. This can help mitigate the dominance of large bulk buyers and create a more level playing field for small retailers. Public Awareness and Education: Raise public awareness about responsible consumption practices and the impact of hoarding on market stability. Educating consumers about their rights and responsibilities can help foster a culture of fair trade and discourage speculative behavior. By implementing a combination of regulatory measures, market monitoring, supply chain improvements, support for small retailers, and promoting competition and consumer education, authorities can better control the open market and mitigate the adverse effects of bulk buyers on small retail buyers.[/b] 65 Likes 3 Shares |
| Politics › Re: What Is The Point Removing Subsidies If You Are Going To Pay Higher Wages??? by malali: 2:32am On Feb 10, 2024 |
I have said it before, because fuel subsidy was removed without adequate back up plan, Fuel subsidy money will be used to pay 1-Salary increments 2-Food Subsidy We need to generate more revenue in dollars to get us moving forward as a country. |
| Politics › Re: The Real Reason Dangote Abandoned Nigeria's Crude Oil by malali: 2:24am On Feb 10, 2024 |
[b]Selling crude oil to Dangote in dollars instead of Naira for his refinery in Nigeria offers several advantages: International Standard: The crude oil market operates predominantly in US dollars. Selling in dollars aligns with global market standards, simplifying transactions and reducing currency conversion risks. Market Stability: The stability of the US dollar compared to the Naira can provide assurance to both parties involved in the transaction. This stability reduces the risk associated with fluctuations in the value of the Naira, which can be volatile due to various economic factors. Access to Foreign Exchange: Selling in dollars allows Dangote's refinery to have easier access to foreign exchange markets for purchasing equipment, spare parts, and other necessary imports for refinery operations. This access can be crucial for ensuring smooth operations and avoiding potential delays or shortages due to currency constraints. International Trade: Dealing in dollars facilitates international trade relationships. It enables Dangote's refinery to engage with global suppliers and customers more efficiently, as most international transactions are conducted in dollars. Investor Confidence: Selling crude oil in dollars can enhance investor confidence in Dangote's refinery project. Investors often prefer dealing in stable, widely accepted currencies like the US dollar, which can attract more investment and support the project's growth and development. Inflation Hedge: Given Nigeria's history of inflation and currency devaluation, transacting in dollars provides a hedge against domestic currency fluctuations. It helps protect the value of revenue generated from crude oil sales, ensuring the sustainability of the refinery's operations. Overall, selling crude oil to Dangote in dollars offers numerous benefits in terms of market stability, access to foreign exchange, international trade, investor confidence, and protection against currency risks, making it a favorable choice for both parties involved.[/b] If Dangote imports crude oil from outside Nigeria in dollars to spite the government, tax the imported crude 50-100%, that should deter him, afterall alot of the refinery was built with subsidised dollar through elemiefele (CBN Governor). Dangote mines his cement raw materials free of charge, and sells the cement and keeps all the profit. Dangote should be made to pay for the limestone and other raw materials or he should be saddled with giant community projects in all the states he mines raw materials from. We have to stand up to unchecked monopoly at the expense of 300 million Nigerians. If he refuses, open up the market, auction new licenses to new people, give him competition. If we do not open up the capital market, we will continue to be held hostage by monopolies. Goodluck starting that port harcourt refinery, now that we have Africa's biggest monopolist in the refining business. 6 Likes 1 Share |
| Politics › Re: To Those Guys Who Said Buhari Will Be Better Than Tinubu by malali: 12:20am On Feb 10, 2024 |
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole. Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country. United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism. Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy. Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism. Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth. Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services. These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b] |
| Politics › Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by malali: 12:20am On Feb 10, 2024*. Modified: 6:24am On Feb 10, 2024 |
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole. Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country. United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism. Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy. Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism. Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth. Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services. These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b] 24 Likes 5 Shares |
| Politics › Re: Supply Shocks, Hyper-Inflation Cause Of Hunger, Hardship – CBN Governor, Cardoso by malali: 12:19am On Feb 10, 2024*. Modified: 4:35am On Feb 10, 2024 |
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole. Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country. United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism. Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy. Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism. Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth. Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services. These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b] 12 Likes 2 Shares |
| Business › Re: Banks To Pay Customers Money Sent From Abroad In Naira by malali: 7:15am On Feb 09, 2024 |
[b]Paying US dollar remittances only in local currency can have both advantages and disadvantages, Pros: Currency Stability: Receiving remittances in local currency can provide stability against fluctuations in the exchange rate of the US dollar. This stability can help mitigate the risk of currency depreciation and provide a more predictable income stream for recipients. Reduced Transaction Costs: Converting US dollar remittances into local currency often involves transaction costs, such as exchange rate fees and commissions. By receiving remittances in local currency, recipients may avoid or minimize these costs, resulting in higher net remittance amounts. Promotion of Local Economy: Remittances paid in local currency can contribute to the development of the local economy by increasing the circulation of domestic currency. This can stimulate economic activity, create employment opportunities, and support local businesses. Regulatory Control: Requiring remittances to be paid in local currency gives the government greater control over the flow of foreign exchange and facilitates regulatory oversight of remittance transactions. This can help prevent illicit financial activities, such as money laundering and terrorism financing. Cons: Exchange Rate Risk: Remittance recipients may face exchange rate risk if the local currency is subject to depreciation against the US dollar. Fluctuations in the exchange rate can erode the value of remittances and reduce the purchasing power of recipients, potentially leading to financial insecurity. Limited International Use: Remittances paid in local currency may have limited utility for recipients who need to conduct international transactions or hold foreign currency savings. This could inconvenience migrants and their families who rely on remittances for cross-border payments or savings in US dollars. Transaction Costs for Recipients Abroad: If remittance recipients abroad need to convert local currency into US dollars or other foreign currencies for international transactions, they may incur additional transaction costs, such as exchange rate fees and bank charges. This could reduce the net remittance amounts received by recipients. Market Distortions: Mandating remittance payments in local currency could create distortions in the foreign exchange market, particularly if the local currency is not freely convertible or if there is a shortage of foreign exchange reserves. This could affect exchange rate stability and macroeconomic conditions in the country. Reduced Remittance Flows: Imposing restrictions on remittance payments may deter migrants from sending money back home, particularly if they prefer to send remittances in US dollars or if they face barriers to converting local currency into foreign currency. This could result in lower remittance inflows, impacting the welfare of recipient families and the overall economy. The decision to pay US dollar remittances only in local currency involves trade-offs between currency stability, transaction costs, regulatory control, and the preferences and needs of remittance recipients. Policymakers should carefully weigh these factors and consider implementing measures to mitigate the potential drawbacks while maximizing the benefits for individuals and the economy.[/b] 6 Likes |
| Politics › Re: Northern Politicians Are Organizing The Protest Against Tinubu by malali: 6:36am On Feb 09, 2024 |
I hope they do not politically kidnap the president. |
| Politics › Re: TINUBU Releases 500million For Committee On Minimum Wage by malali: 6:33am On Feb 09, 2024 |
Tinubu releases 100 billion dollars to committee set up to investigate the cause of poverty in Nigeria. |
| Politics › Re: Tinubu Orders Mandatory Recitation Of National Pledge At Official Engagements by malali: 6:29am On Feb 09, 2024*. Modified: 6:54am On Feb 09, 2024 |
Good Move. Oil Subsidy has to be moved to food subsidy and salary increments. Only solution is to diversify national revenue generating schemes. Only oil wont feed us anymore. You can remove oil subsidy, but you will spend it on food or salary eventually. https://www.youtube.com/watch?v=UST9wOZht_E |
| Politics › Re: Social Media Is Now A Menace, Must Be Regulated - Gbajabiamila by malali: 6:22am On Feb 09, 2024*. Modified: 8:22am On Feb 09, 2024 |
[b]I always thought this Gbaja had sense, I still dont believe he said something like that.......You want to gag the citizens, unless they are singing your praises. what else can be more more undemocratic than that ? The same way you can use your mouth to announce as the speaker of the house of rep. Thats the same way any Nigerian can use his voice to express his displeasure with your work. DONT FORGET YOU WORK FOR US.......DONT GET POWER DRUNK, YOU ARE A MERE PUBLIC SERVANT........ How can you be so close to the president and be this senseless, I am beginning to question Tinubu's wisdom appointing you as the Chief of staff. An administration that people are pouring kerosene on, you are going around lighting matches, with careless speeches. You are not a king, even king charles did not ask them to regulate social media, they went after his late wife and his children and grandchild. Better humble yourself, Nigerians are not smiling now......They will call for your replacement. You can go home and be shutting your kids social media off. With the myriad of problems Nigerians are currently facing, hunger, kidnapping, insecurity, devaluation of currency, inflation, brain drain....your only solution is to turn off social media ?? So that you can sleep well at night  ??Those who live in glasses houses do not throw stones at other people.[/b] 3 Likes |
| Politics › Re: What Is The Sense In Removing Fuel Subsidy by malali: 6:07am On Feb 09, 2024 |
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole. Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country. United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism. Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy. Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism. Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth. Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services. These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b] 2 Likes 1 Share |
| Politics › Re: Video: Nigeria Lawmakers Summon Heads Of Security Chiefs Over Rising Insecurity by malali: 7:54am On Feb 08, 2024 |
Finally, the senate is waking up !!! Call every sector...... Call the security chiefs Call the bureau the change representative, one from lagos, abuja, kano. Let them explain the dollar economy in Nigeria. The inflows and the outflows, its better you do it yourself before BBC does a secret documentary to expose everything. Call the bank chiefs Call the CBN directors Call the agriculture minister ? why is food scarce ? Call the police chiefs ? What are the senate committees doing ? Looking for who will settle them the most out of the government parastatals ? Call the trade minister ? What is the most imported things in Nigeria ? Set up the company in Nigeria, get funding from venture capitalists or the stock market ? What d we have that can be processed and exported ? Can the trade minister entice prospective exporters ? Asiwaju cannot be expected to do everything alone the senators and governors need to be working just as hard. 1 Like |
| Politics › Re: Let's Start Saving To Get Pdp Presidential Ticket For Goodluck Jonathan by malali: 7:53am On Feb 08, 2024 |
Jicks55:Dont quote me on the rates, i was giving examples, I meant it had better value, you are right about the rate. Jonathan is a leader, you need to have balls to do somethings that are not popular, do you think Tinubu will listen to Atiku and Obi ? They should have taken the subsidy to food, and then gradually increased our farm production while slowly removing the transferred subsidy. 2 Likes 1 Share |
| Politics › Re: AFCON: Peter Obi Congratulates Super Eagles For Making It To The Final by malali: 7:35am On Feb 08, 2024*. Modified: 8:39am On Feb 08, 2024 |
I will like to hear Peter Obi make suggestions on how to improve the economy. I want to be president at all cost......Is a scam. Obi should be interviewed on measures that can improve the economy. Even if he is opposition, is he not Nigerian ?? All this picture and fanfare is getting old, election is over. Tell us what the present government is doing that you dont agree with, Tell us what you would have done instead. There is healthy opposition and there is constituting a nuisance to maintain relevance. If Obi is smarter than Asiwaju, lets hear your economic policies that would improve the current situation, lets here your macro and micro fiscal policies. We appreciate your opposition but Oga open mouth tell us economic strategies, Nigerians will not vote for someone without policies. You have Contested twice as VP and President. Are you one of those that just wants to answer president or Vice president. Where are the ideas,can you attract any foreign investors ? Can you proffer solutions to the insecurity ? Can you bring forth realistic, implementable suggestions that will appreciate the naira ?? Election is over, contribute to your country....show Nigerians you actually care.... Your dont have to have an elected office to contribute your own Quota...... I am prepared for your delusional supporters. We critique Tinubu, We critique Atiku, we Critique Buhari and heaven doesn't fall That is democracy. But as soon as we mention Peter Obi, the attack gets personal, nothing objective. This kind of attitude will never get you votes. These people online always attacking possible voters in the future. Call them to order, tell them to at least pretend to be sane and civil till we vote for you. We are Nigerians as well, these delusional supporters club you have, doesnt intimidate anyone. They ar just alienating people from your small voter base. 6 Likes 2 Shares |
| Politics › Re: Let's Start Saving To Get Pdp Presidential Ticket For Goodluck Jonathan by malali: 7:23am On Feb 08, 2024 |
Jicks55:Tinubu is still the best of all of them so far. I will tell you why... 1-He removed oil subsidy, that was a scam to loot from time immemorial. 2-He floated the dollar, everybody same rate, defore dangote will collect dollar for 300 naira, while other business people buying their goods abroad will buy at black market at 700naira. These are seismic changes. The things working against him is 1-Buhari left a huge loan, which he has to service, and he hasnt defaulted, he is paying as of when due !! 2-There is inflation all over the world, its worse in countries without good economic policies 3-Oil prices are lower and OPEC is cutting back out production limit All these 3 things did not exist for Jonathan 3 Likes |
| Politics › Re: EFCC Raises Task Force Against Dollarization Of Economy by malali: 7:00am On Feb 08, 2024*. Modified: 8:09am On Feb 08, 2024 |
[b]Good job, We can never fix the economy if we are running naira economy and dollar economy, China devalues its currency to attract foreign dollar investments regularly. Tax anything imported, which is produced in Nigeria 100-200%. No more dollar transactions. The exchange rate is now floated, Bureau De Change should be, registered and linked with banks, they should maintain an account with a bank and the inflow and outflow can be monitored. Nobody should be able to change 10 billion naira on the streets without any record of the transaction....That is criminal everywhere in the world....It happens in Nigeria. If you dont tackle the "dollar" people, you are competing against america, you will lose, because they will always protect the dollar. Teach your governors how to raise money (public listing) in the stock market.......Pantami and co should not only be raising money for kidnappers, let them look for projects in their states and raise money through venture capitalists, get trustworthy managers, and eventually list it on Nigerian stock exchange, it can be farming, animal husbandry, mills, hotels. There are so many rich people in Nigeria whose idea of wealth is hoarding it at home and buying a few houses in London. Each state should have a company in the Nigerian stock exchange, not necessarily owned by the state , but have trustworthy people running it and slowly expanding all over Nigeria with headquarters in their state. For this system to work, you have to prosecute the looters, unbiased judiciary. When foreign investors see that we are a sane climate....they will come and participate.[/b] 13 Likes 1 Share |
| Politics › Re: Let's Start Saving To Get Pdp Presidential Ticket For Goodluck Jonathan by malali: 6:53am On Feb 08, 2024 |
There are people better than Jonathan. A lot of damage has been done before Tinubu. He is just being a team player by not revealing what his predecessors did.....Buhari gave them a free hand Tinubu must have agreed not to probe them. 2 Likes |
| Agriculture › Re: Jigawa To Cultivate 150,000 Hectares Of Wheat by malali: 6:21am On Feb 08, 2024*. Modified: 7:33am On Feb 08, 2024 |
[b]This is good news, if you drive between spokane, washington and idaho, there is about a 100 mile stretch of Dry wheat farming, its the largest dry wheat farming in the world, the moisture from the winter snow is used to plant and harvest wheat before the next winter rolls in. Its really neat. We can send 100 people in batches to learn the technology and the process involved, these people can come back and teach others...... Dont ask federal government for the money, source the funds from private investors, venture capitalists. The governors have to be taught to look inwards for funding. Mobilize funds from the billionaires in your states. Suleiman Abba Nana Abdullahi Muhammed Babandede Muhammed Kazaure Gudaji Abdulmumini M. Hassan Mohammed Tasiu Ibrahim Ibrahim Kazaure Sule Lamido Mujitaba Mohammed Mallam Dahiru Musdapher Hafiz Ringim Ruqayyah Ahmed Rufa'i Christopher Waziri These are wealthy jigawa people, All fingers cannot point to Aso rock everytime. We have to keep trying till we get it right....we spend too much money importing wheat, when we have enough land to plant it and export to other African countries eventually.[/b] 5 Likes 1 Share |
| Politics › Re: I Am Fortified, No Kidnapper Can Dare Try To Abduct Me - Oluwo Of Iwo by malali: 6:20am On Feb 08, 2024*. Modified: 6:47am On Feb 08, 2024 |
[b]Asiwaju, "jagaban" of the world, its time for you to show us what you can do. Show us your Jagaban......The war has started, Jagaban means "king of warriors" The masses will protest and the protests will grow.....you might have some elites in your pockets with juicy appointments and contracts. But the Nigerian masses have never failed to oust a president held hostage. You should have either floated the dollar or removed subsidy, doing both together without any economic safety net in place was idiotic, to be honest. I see you are copying global trends of raising interests rates, I want to warn you that countries where these policies work, have a very dynamic social welfare system and very low unemployment rate. We have neither in Nigeria, food palliatives are not reliable social welfare ....If you continue in that direction, you will suffocate the poor even more, because you are about to make the devalued currency even harder to get. You also have a bunch of clueless governors who lack revenue generating skills, I wonder why the protests are not against the governors, its time to "False Flag" those protests so the governors dont always point their finger to Aso rock. Not even salary increments can solve the present crisis. If you steal/loot 10 billion naira, all you have to do is look for bureau de change......they will change it to dollars...no question asked!!!!!! There is nowhere in the world you can do that as easily as Nigeria.....so easy, you dont even need to speak English. Thats our problem. If you want to withdraw 3 thousand dollars cash from an American or London bank you have to give them 2 days notice !!!! Whereas on the streets of Lagos or Abuja you can purchase 10 million dollars cash if you have the Naira equivalent in 5 mins !! Where is bureau de change getting physical dollars from ?? If they are buying it ?? Where are the sellers getting it from ?? Secure the naira, ban all dollar transaction now before kidnappers start demanding ransom in dollars, Incentivize whistle blowers, you discover a hoard of ill gotten cash anywhere in Nigeria, you get 20%. No physical transaction of more than 2 million, it has to be bank to bank, it has to be traceable.....if you allow large amounts of cash to appear and disappear easily, you will never solve insecurity. If you dont address these "Fifth Columnists" . You can never fix the economy. You are just fetching water with a basket. If you dont plug the holes, you are only deceiving Nigerians....when you tell them to persevere .......economy will only get worse !!! Act now before they give you the "Chibok" treatment.......you need to stop playing defense and go on the offensive. Time is ticking, kidnappers, daily protests, insecurity, very organized opposition, will eventually lead to the downfall of this regime.[/b] 9 Likes 3 Shares |
| Business › Re: Nigerians Spent $98 Billion On Foreign Trips, Education In 10 Years – CBN by malali: 5:43am On Feb 07, 2024 |
After thorough invesitgation by EFCC, these are the people spending that money abroad Baba Buhari london, 27 billion Asiwaju Tinubu of Paris, 25 billion Sir Obi of United Kingdom 21 billion Sheikh Atiku of Dubai 24 billion 90% of Nigerians citizens are still trying to eat 3 times a day.  9 Likes |
| Politics › Re: Seun Of Nairaland, It's Time To Upgrade by malali: 8:09am On Feb 06, 2024 |
Seun if you read this post. I want to work with you to upgrade Nairaland. Lets hire and pay to upgrade the interface. Nairaland should be the Number 1 African Blog. Contact me. 3 Likes 1 Share |
| Health › Re: Over 50% Certificates Of Imported Pharmaceutical Products Fake — NAFDAC by malali: 6:18am On Feb 06, 2024 |
AareGaa:This is not even about Atiku and Obi.....they are both worse than jagaban. I agree. But Jagaban is too soft to face the real people causing the problems. If you steal/loot 10 billion naira, all you have to do is look for bureau de change......they will change it to dollars...no question asked!!!!!! There is nowhere in the world you can do that as easily as Nigeria.....so easy, you dont even need to speak English. Thats our problem. Where is bureau de change getting physical dollars from ?? If they are buying it ?? Where are the sellers getting it from ?? 2 Likes |
| Health › Re: Over 50% Certificates Of Imported Pharmaceutical Products Fake — NAFDAC by malali: 9:31pm On Feb 05, 2024*. Modified: 8:16am On Feb 06, 2024 |
"Revoke it, name and shame the culprits" [b]Asiwaju, All your bravado about being the "jagaban" of the world, its time for you to show us what you can do. Show us your Jagaban......The war has started, Jagaban means "king of warriors" The masses will protest and the protests will grow.....you might have the northern elites in your pockets with juicy appointments and contracts. But the Nigerian masses have never failed to oust a president held hostage. You should have either floated the dollar or removed subsidy, doing both together without any economic safety net in place was idiotic, to be honest. Not even salary increments can solve the present crisis. This is not even about Atiku and Obi..... Jagaban is too soft to face the real people causing the problems. If you steal/loot 10 billion naira, all you have to do is look for bureau de change......they will change it to dollars...no question asked!!!!!! There is nowhere in the world you can do that as easily as Nigeria.....so easy, you dont even need to speak English. Thats our problem. If you want to withdraw 10 thousand dollars cash from an American or London bank you have to give them 2 days notice !!!! Whereas on the streets of Lagos or Abuja you can purchase 10 million dollars cash if you have the Naira equivalent in 5 mins !! Where is bureau de change getting physical dollars from ?? If they are buying it ?? Where are the sellers getting it from ?? If you dont address these "Fifth Columnists" . You can never fix the economy. You are just fetching water with a basket. If you dont plug the holes, you are only deceiving Nigerians....when you tell them to persevere .......economy will only get worse !!! Act now before they give you the "Chibok" treatment.......you need to stop playing defense and go on the offensive. We are getting closer to a military takeover "coupe d'etat", politicians have looted the country dry, and Tinubu cannot do anything. Time is ticking, kidnappers, daily protests, insecurity, very organized opposition, will eventually lead to the downfall of this regime.[/b] 27 Likes 7 Shares |
| Celebrities › Re: Rapper, Killer Mike Arrested At The Grammys After Winning Three Awards by malali: 9:16am On Feb 05, 2024 |
Kobicove:Do you judge everyone in life ?? Trump pre-judicially asked for central park 5 to be killed. Do you even know trump ?? Or do you get all your education from what someone who is hired to read the news, tells you on TV ?? My friend educate yourself, killer mike is a nickname, rap is a culture. |
| Celebrities › Re: Rapper, Killer Mike Arrested At The Grammys After Winning Three Awards by malali: 8:44am On Feb 05, 2024 |
Kobicove: The man won 3 grammys in one night. He was handcuffed for an altercation. Trump instigated an insurrection where people actually "died" ....I am yet to see him on video in Handcuffs. Call it playing the race card. Till they report him dead in police custody under "mysterious" circumstances. When you get race carded, we will not comment......you are transracial from now on. 1 Like |
| Celebrities › Re: Rapper, Killer Mike Arrested At The Grammys After Winning Three Awards by malali: 6:19am On Feb 05, 2024*. Modified: 7:58am On Feb 05, 2024 |
Dont miss the big Picture. Successful black man in America, being humiliated. 14 Likes |
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