ManirBK's Posts
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Na lie. Na police kill am! I hope they didn't collect bail fee from his corpse!! |
An elderly man, Alhaji Muftau Mohammed of Gbeganu Area of Minna, Niger State capital, slumped and died at Morris Police Division, where he had gone to bail two of his sons, Mubarak Ahmed and Yusuf Mohammed who were reportedly arrested by the police.https://dailytrust.com/father-slumps-dies-while-trying-to-bail-sons-at-police-station/
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Good development God bless CBN God bless Tinubu God bless Nigeria |
With the naira already trading at below ₦1,200 to the US dollar on both the official forex and black markets, one of the world’s top investment banks believes the local currency could be No.1 in its performance this month. Goldman Sachs projects the naira will emerge as this month’s best performing currency relative to the greenback. The turnaround comes after the naira plumbed record lows earlier this year amid acute foreign exchange shortages and galloping inflation. However, the tide has dramatically shifted since mid- March. According to figures published by the FMDQ Group Plc, the naira has appreciated a little shy of 40% since mid- March to trade at around ₦1,150 per dollar in the parallel market. It hit a 4-month high of ₦1,050 per USD in the black market last Monday. In the official forex market, the local currency touched a four-month peak of ₦1,136.04 per dollar on the same day. However, Goldman cautions that sustaining the naira’s recovery will not be an easy walk in the park. They cited uncertainty over the Tinubu government’s ability to maintain the reform momentum. Of course, global markets and dynamics, such as the surging conflicts in Ukraine and Gaza, will have a tangible impact on the naira. As Nigeria’s economy grapples with many challenges, from soaring prices to dwindling foreign reserves, the fate of the naira remains closely intertwined with global dynamics. Just as companies offering demo roulette and other digital services keenly monitor market trends, investors and policymakers must remain vigilant in assessing the naira’s long-term trajectory. CBN’s monetary policy actions behind naira’s surge The naira’s rally against the dollar is largely thanks to a series of aggressive monetary policy actions undertaken by the Central Bank of Nigeria (CBN) to restore stability and curb inflation. Faced with spiraling inflation and depleted forex reserves, the CBN delivered a cumulative 600 basis points of interest rate hikes across its February and March monetary policy meetings. These front-loaded rate increases were aimed at reining in price pressures and shoring up the naira. Complementing the rate hike, the central bank has also implemented measures to unclog bottlenecks hampering dollar liquidity in the economy. The issue had previously driven businesses towards the parallel market for dollar exchanges. The naira’s exchange rate on the official FX market had drifted towards the black market level since Q4 2023, according to Reuters . “The naira’s recovery has been remarkable…if this trajectory continues, the Nigerian currency could potentially outshine all others globally in April,” remarked Kamran Mahmoud, an emerging markets strategist at Goldman Sachs. Revised forecast for naira upbeat The economists at Goldman Sachs have ratcheted up their projections for the naira amid its dizzying rally. As recently as February, Goldman had forecast the local unit would strengthen to around ₦1,200 per dollar by year-end 2024. However, the naira’s pace of appreciation has compelled the investment bank to envision even rosier outcomes. “This probably can run further; we would see an extension of the move to ₦1,000 and maybe even sub-1,000,” Goldman’s Andrew Matheny told reporters. Such ebullience over the naira’s prospects would have been unthinkable mere months ago when it appeared in free-fall. Yet the CBN’s forceful actions have lent credence to the narrative of an economy steadying itself after years of forex crises. Compared to Africa’s biggest economies and currencies, naira is almost the only one that has rallied against the dollar since the start of April. At N1150 per dollar, it has appreciated 7.2%, while the South African rand has slipped nearly 2% since April 9. The same goes for the Kenyan shilling (-0.5%), Zambian kwacha (-1.5%), and Ghana cedi (-0.4%). Lingering economic challenges Still, Goldman’s revised bullish forecasts for the naira come with a dose of caution and skepticism over the sustainability of the current momentum. “It’s still early days of the central bank rebuilding its credibility,” Matheny cautioned in his remarks to Bloomberg. “We don’t have high conviction that they’re going to stay the course.” Indeed, for all the naira’s gains of late, Nigeria’s economic landscape remains fraught with sizable economic challenges. Inflation has spiraled to multi-decade highs above 33%, eroding purchasing power and leaving scores of citizens mired in poverty despite the currency’s rebound. Other structural bottlenecks could also restrain the naira’s ascent. Oil production – a key driver of forex inflows – has been declining as the sector grapples with operational inefficiencies and security risks. This limits Nigeria’s ability to capitalize on elevated global crude prices. Moreover, foreign reserves remain low at under $32.6 billion , enough to cover just 6 months of imports. Central bank’s forex war chest has been steadily depleting amid efforts to support the naira and plug capital outflows. While the naira rebound should help in containing inflation in the coming months, Nigeria faces a raft of other cost pressures. This month alone, electricity prices have gone up threefold in Lagos and other urban regions. Tinubu’s government is also in talks with labor unions about hiking the minimum wage come May. Wrapping up For now, the Nigerian authorities appear resolute in defending the naira’s recent gains at all costs. But questions linger over how sustainable these force-backed measures truly are in the longer run. “There are questions about how socially sustainable this strategy will be,” said Matheny. “We’ll have to be watching developments closely to assess whether this rally has legs.” One key determinant will be whether the aggressive rate hikes, which have stoked fears of compounding economic hardships, manage to tame inflation decisively in the coming months. The CBN may be afforded greater flexibility in unwinding its tightening if prices start rapidly decelerating. https://dailytrust.com/naira-rallies-against-dollar-could-be-worlds-best-this-month/ mynd44 lalasticlala seun nlfpmod fergie001 |
flyinnizam:we need to know why ![]() |
i dey laugh with obidient sad face. nlfpmod |
My advice to fellow continent Sudan to brace up and bring peace to their beloved country Nigeria unsolvable problems cannot be measure with any crisis in Sudan |
GOD BLESS NIGERIA MILITARY, THEY'RE WELL RECOGNISED BY THE
AFRICAN COUNTRIES BECAUSE OF THEIR SUPRIOR POWER. |
The government of Sudan has called on the Nigerian government to intervene in the crisis between the military and the members of the Rapid Support Forces (RSF), in the country.https://dailytrust.com/sudan-calls-on-nigeria-to-intervene-in-crisis-with-rebels/ mynd44 lalasticlala seun nlfpmod fergie001
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Good news Ipobbs and Kidnappers faceoff will soon commence!!! |
Notorious bandits Kachallah, Madagwal, 12 others killed in faceoff with rival groups in Zamfarahttps://dailypost.ng/2024/04/18/notorious-bandits-kachallah-madagwal-12-others-killed-in-faceoff-with-rival-groups-in-zamfara/
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hmm |
Tea bags with Quranic inscriptions said to have healing
power have emerged in markets in Europe, Daily Trust
reports.
The development has however raised dust, especially in
northern Nigeria, where ‘rubutun allo’ (Quranic verses and
other Islamic prayers written on wooden slates, or tablets
using ‘tawada’, also known as local ink) are prescribed for
drinking with the hope of getting spiritual healing or
protection from evil.
The usage gained prominence many decades ago among a
section of Muslims, especially in northern Nigeria, and is
also a source of livelihood for some malams (clerics).
The newly introduced tea bags are prepared such that one
doesn’t have to write the verses or prayers on the local
slate, rather, they are inscribed on dissoluble paper that is
packaged like the normal tea bags.
Those behind the innovation said what is required is just
water in a cup and one is good to go as the tea dissolves
straightaway and is ready for drinking.
Daily Trust reports that traditionally, specific Qur’an verses
are written on a slate (allo) and allowed to dry before being
washed and the water drunk with the hope of recovering
from ailments or protection against evil and evil.
Clerics kick
Some Muslims, both at home and abroad, are said to have
sought the rubutun allo for protection or recovery from
ailments. For those outside the country, it is normally sent
to them in bottles or jerry cans, as the case may be. Some
not only drink it but rob it on their body or bathe with the
rubutun sha.
However, some clerics who believe in the efficacy of the
preparation have kicked against the packaging of the
rubutun allo in teabags, saying some people want to take
over their ‘business’.
Following the emergence of the teabags, which has gone
viral, some clerics expressed their displeasure over the
development saying that it will throw them out of
‘business.’
Traditionally, people visited clerics whom they paid to write
the appropriate verses for them, mostly out of fear of not
getting the recommended ones properly, or typographical
errors.
Those in the rubutun allo for healing/protection business
here in Nigeria are accusing the Netherlands-based
company that introduced the new teabags, identified as
Quranfi, of trying to get them out of business.
“This is absolutely sabotage,” one of the clerics in Kano,
said. “I wonder why they feel they have to make it like a tea
bag,” he said.
Another cleric doubted the efficacy of the innovation.
“How sure are they of having the ‘sirri’ (secret) of ensuring
that it works?” he queried.
New teabag not for everyone
However, less privileged individuals and middle-class
income earners may find it difficult to afford to buy the
‘healing’ teabags.
It was gathered that a packet goes for not less than
N30,800, while the most expensive is sold for N307,400.
A packet of ‘Suratul Baqara, Maryam and Saffat among
others and verses that destroy witchcraft cost N30,800, a
packet of the complete Qur’an is sold at the rate of
N43,000.
A set of protection verses goes for N307,400 alongside
some items, while the medium size costs N215, 200.
The company has also introduced the Quranic Sheet for
Ruqyah (x16) called the Quranfi Ruqyah Package. Each
package includes 16 sheets of Quranic verses specifically
chosen for their ability to destroy various forms of sihr
(‘black magic’).
One is just expected to dilute the Quranic sheet in water to
create a potent ruqyah (seeking refuge, remembrance, and
supplications that are used as a means of treating
sicknesses and other problems) solution that can be used
for drinking, bathing, and spraying in the home.
The product is not intended to diagnose, treat, cure, or
prevent any disease and is not a substitute for professional
medical advice, according to the manufacturers.
A search online showed Etsy, a global online marketplace,
describing the Quranfi Ultimate Ruqyah Package as “a
collection of our most popular and powerful Quranic tools
for spiritual protection and healing,” adding that the
“package includes a variety of Quranic sheets designed to
provide protection against jinn, sihr, al-ayn, and hassad.” https://dailytrust.com/drama-as-rubutun-sha-teabags-emerge-in-europe-markets/ mynd44 oam4j lalasticlala seun nlfpmod fergie001 |
God1000:yes very limited attack, israel do not want to go extream! |
There were no reports of casualties. Now, that's what we call defending!!! World War 3 has started and if you doubt me, wait and prove me wrong after 3 days. |
Iran’s air defences have brought down three small drones over the central city of Isfahan, state media reported, hours after United States broadcasters, quoting senior US officials, said Israeli missiles had hit an Iranian site.https://www.aljazeera.com/news/2024/4/19/israeli-missiles-hit-site-in-iran-explosions-heard-in-isfahan-report
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Chineke God o!!! |
Brazil legend Romario, 58, has registered himself as a player for
America Football Club in Rio de Janeiro, where he also serves as
club president.
After his registration was approved on Tuesday, the 1994 World Cup
winner is available to play for the club in the second division of the
Carioca Championship – the state league of Rio de Janeiro – which
begins on May 18.
Rio de Janeiro’s football federation confirmed Romario’s
registration as a player, adding that he will receive a minimum
wage, which will be donated to the club.
Romario was unclear over when he intends to play for the club.
He said he will not feature in any league games, but insisted he
wants to play alongside his son, recent America FC signing
Romarinho, who is a striker.
He addressed the clubs fans in a post on Instagram, saying: “I’m
not going to compete in the championship, but rather play a few
games for the team of my heart and make another dream come
true, playing alongside my son. What do you think?”
Romario played his last official game in November 2009 when he
featured for America FC, the beloved club of his father, Edevair.
He has served as president of America FC since 2009. Five years
later, he was elected senator for Rio de Janeiro.
A Vasco da Gama youth product, Romario starred for PSV
Eindhoven and Barcelona among other clubs.. https://leadership.ng/brazils-legend-romario-plans-surprise-comeback/ mynd44 oam4j lalasticlala seun nlfpmod honeric01 semid4lyfe mukina2 |
Good development with BABA TINUBU 1$ to N150 is possible soon |
The Association of Bureau De Change Operators of Nigeriahttps://dailytrust.com/bdcs-now-buying-dollar-at-n980-abcon-president/
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Xscape1993:May Baba Tinubu Succeed Ameen |
I am with PBAT on this it's about time the security operatives should teach IPOBBS Bandits and their likes a lesson in the language they'll understand. |
President Bola Ahmed Tinubu has declared that those who threaten the sovereignty of Nigeria would pay a heavy price. The president made the declaration while speaking on security when he received leaders of Afenifere, the respected Yoruba Socio-Cultural Organisation, at the State House in Abuja, on Wednesday. “I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy is reflected greatly here since we assumed office. What we face now is the challenge of terrorism. Security of life and property is very necessary for development. I can tell you we are achieving success. We have degraded terrorism to a level that they cannot threaten the sovereignty of Nigeria any longer. “Banditry and kidnapping will be defeated. And there is no payment of ransom whatsoever. We are taking the battle to them. We are getting results more rapidly than before. We are working hard on intelligence gathering. Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. They have a price to pay. And we are not going to relent,” the president affirmed. President Tinubu said his administration remained undeterred in its pursuit of comprehensive economic security for the country while addressing foundational challenges and creating a fair and equitable system in which all Nigerians could thrive. The president, in a statement by his spokesman, Ajuri Ngelale, said his administration was re-engineering Nigeria’s finances and seeking to boost the purchasing power of citizens, and spread prosperity down the line, by instituting a credit system where the element of cash is not an impediment to a significantly enhanced standard of living for all citizens. Earlier in his remarks, His Royal Majesty, Oba Olu Falae, commended the president for his courageous decisions and for the rehabilitation of the Third Mainland Bridge in Lagos, as well as other critical ongoing projects. He urged the president not to relent in ensuring fairness and equity for all Nigerians while noting the importance of a constitutional amendment to devolve more powers to the states. The delegation was led by Pa Reuben Fasoranti, leader of Afenifere; Oba Falae, alongside other eminent citizens. https://dailytrust.com/those-threatening-nigerias-sovereignty-will-pay-heavy-price-tinubu/ mynd44 lalasticlala seun nlfpmod fergie001 |
Good development God bless Nigeria |
One thousand residents of Eti-Osa Local Government in Lagos State have benefited from Sanwo-Olu Food Palliativehttps://thenationonlineng.net/1000-residents-get-free-food-package/
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Good development God bless the Jagaban God bless Nigeria |
The federal government has deployed a team of officers to monitor the activities of its Ministries, Departments and Agencies (MDAs), as part of measures at ensuring the full implementation of its Performance Management System (PMS).https://dailytrust.com/fg-deploys-officers-to-mdas-to-monitor-pms-implementation/
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God bless Tinubu God bless Nigeria God Punish the Wailers |
Good Development God Bless the Jagaban God bless Nigeria |
President Bola Tinubu has projected an annual economic benefit of approximately $2.7 billion US dollars from paperless trade alone, with the take-off of the National Single Window Project. president Tinubu, who disclosed this on Tuesday, April 16, at the launch of the National Single Window Project at the State House, Abuja, said the project will also be saving an estimated at $4 billion annually for Nigeria. The project is a cross-government website to facilitate trade by offering a single portal for trade actors, both Nigerian and international, to access a full range of resources and standardized services from different Nigerian agencies. The project, hailed as a transformative initiative, aims to streamline trade processes, unlock economic potential, and position Nigeria as a global trade leader. President Tinubu emphasized the significance of the National Single Window as more than just a policy but as a testament to Nigeria’s commitment to progress and prosperity for all its citizens. He articulated that the initiative would simplify government trade compliance through a digital platform, linking ports, government agencies, and stakeholders to create a seamless and efficient trade ecosystem. He said the project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors. Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government. “The National Single Window is a game changer that will revolutionize the way we conduct trade. By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities. “This initiative will link our ports, government agencies and key stakeholders, creating a seamless and efficient system that will facilitate trade like never before. Imagine a Nigeria where business can save time and resources, where small enterprises can reach global markets and where the informal e-commerce sector is brought into the fold increasing our tax base. This is the Nigeria we are building with the National Single Window. “The benefits of this initiative are immense. The paperless trade alone is estimated to bring an annual economic benefit of around $2.7 billion US dollars. Countries like Singapore, Korea Kenya and Saudi Arabia have already seen significant improvement in trade efficiency after implementing Single Window Systems. “It is time for Nigeria to join their ranks and reap the reward of a streamlined, digitalized trade process. We cannot afford to lose an estimated $4 billion annually to red tape, bureaucracy, delays and corruption at our ports. “The National Single Window will address these issues headlong, preventing revenue leakage and facilitating effective trade. By doing so, we will create a more transparent, secure and business friendly environment that will attract investment and spur economic growth. “The implementation of National Single Window will not be an overnight process, I know. It require dedication, collaboration and a phased approach. But I assure you my fellow brothers and sisters, that we are fully committed to seeing this project through. “We work tirelessly to ensure its success by engaging all partner agencies and stakeholders to create a system that works for every one of usus”, he said. Also speaking at the inauguration ceremony, Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, said implementation of the National Single Window Project is expected to generate an average GDP growth rate of 7% annually. https://thenationonlineng.net/trade-efficiency-tinubu-launches-national-single-window-project/ mynd44 lalasticlala seun nlfpmod fergiee001 |
Natbrowny:lol |
1 2 3 4 5 6 7 8 ... 15 16 17 18 19 20 21 22 23 (of 249 pages)
