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Sports › Re: April 8: Griezmann Welcomes 3rd Child On Same Day As Previous Two by milann: 8:24pm On Apr 08, 2021
Eriokanmi:
It's possible through CS. It's very rare with natural delivery. They can induce the baby and the woman would fall at labour, then medics would carry out a CS on her.
but that's dangerous. She could die in the process
Romance › Re: What's The Coldest Way You Found Out Your Relationship Was Over? by milann:
'I'm sorry'. That's what she texted after abandoning me to be chief chike's second wife. It was a sad experience after all we shared. I just thank God i already browsed her.
Romance › Re: Have You Ever Wash Your Girl-friend Or Wife's Clothes Before? by milann: 6:56pm On Apr 06, 2021
My hands are for removing the clothes
Romance › Re: I Stopped Masturbating 7 Months Ago - Nigerian Lady Celebrates by milann: 6:15pm On Apr 06, 2021
Eaglesence:
. You are living in sin Oga.
what is sin in lending an helping hand
Celebrities › Re: Francis Odigie Calls Out Dumez Edo, Her Baby Daddy (Video) by milann: 4:09pm On Apr 06, 2021
cococandy:
Men embarrassing their wives since time immemorial
Why are you always biased and unjust? Everytime you blame the male gender as if men are your greatest enemy. You won't blame your gender that open their legs for married men.
Family › Re: Chinese Woman Finds Out On Son's Wedding Day That Bride Is Actually Her Daughter by milann: 7:49am On Apr 06, 2021
Daughter you abandoned. What if the two never met and they say the future is female. They should keep deceiving themselves.
Phones › Re: System Update Spyware Targets Android Users by milann(op): 7:04am On Apr 06, 2021
jlinkd78:
Na wah
mad oh
Romance › Re: I Stopped Masturbating 7 Months Ago - Nigerian Lady Celebrates by milann:
How will a grownup girl be masturbating when there are many big cøcks out there to satisfy herself with beyond reasonable doubt. I have a friend who would call me whenever she's hørny becos we had a deal to always help one another in time of need despite the fact that i have a lover. That's how it suppose to be. Enough of these habits.
Celebrities › Re: Tochi Slams Ka3na: You Blocked Lucy Edet & You Are Wishing Her Happy Birthday by milann: 7:04pm On Apr 05, 2021
Abeg who get katrina number, i wan tellam something
Phones › Re: System Update Spyware Targets Android Users by milann(op): 6:30pm On Apr 05, 2021
CodeTemplar:
Everybody is using android but no one seem interested in its security issues as it affects users. What is peaggasus?
you have a point. mynd44
Phones › Re: System Update Spyware Targets Android Users by milann(op): 4:50pm On Apr 05, 2021
Thank God i use iphone
Phones › System Update Spyware Targets Android Users by milann(op): 4:08pm On Apr 05, 2021
The new malware disguises itself as a System Update application, and is stealing data, Inspecting notifications and monitoring messages, images and taking control of android phones
By Kabir Yusuf
Android device users are being targeted by a sophisticated spyware app that disguises itself as a “system update” application, a mobile security firm Zimperium zLabs has said.

The new malware disguises itself as a System Update application, and is stealing data, Inspecting notifications and monitoring messages, images and taking control of android phones.

Once in control, hackers can record audio and phone calls, take photos, review browser history, access WhatsApp messages.

The app can also monitor your GPS location, steal SMS messages and exfiltrate device information, international news outlet, Gizmodo, reported

The “System Update” app was discovered by Zimperium researchers, who have classified it as a Remote Access Trojan (RAT)—a broad category of malware that typically allows a hacker to access and manipulate your device from afar.

“Following an investigation, we discovered it to be a sophisticated spyware campaign with complex capabilities. We also confirmed with Google that the app was not and has never been on Google Play,” the mobile security firm said.

“This particular RAT is downloaded with the promise of helping you keep your device up to date but, instead, sends all your information back to a Command & Control server,” Gizmodo quoted Shridhar Mittal, Zimperium CEO, as saying.

“It’s easily the most sophisticated [RAT] we’ve seen,” Mr Mittal told the outlet. “I think a lot of time and effort was spent on creating this app. We believe that there are other apps out there like this, and we are trying our very best to find them as soon as possible.”

How does it works
According to Zimperium, upon installation (from a third party store, not Google Play Store), the device gets registered with the Firebase Command and Control (C&C).

It extracts details such as the presence or absence of WhatsApp, battery percentage, storage stats, the token received from the Firebase messaging service, and the type of internet connection.

The malware gives options to update the mentioned device information exist as “update” and “refreshAllData,” the difference being, in “update,” the device information alone is being collected and sent to C&C, whereas in “refreshAllData,” a new Firebase token is also generated and exfiltrated.

“The spyware’s functionality and data exfiltration are triggered under multiple conditions, such as a new contact added, new SMS received or, a new application installed by making use of Android’s contentObserver and Broadcast receivers.

“Commands received through the Firebase messaging service initiate actions such as recording of audio from the microphone and exfiltration of data such as SMS messages.

“The Firebase communication is only used to issue the commands, and a dedicated C&C server is used to collect the stolen data by using a POST request.”

https://www.premiumtimesng.com/news/top-news/453269-system-update-spyware-targets-android-users.html
lalasticlala
Career › Re: Why We Shutdown Shoprite Stores In Nigeria - Workers by milann(op): 3:58pm On Apr 03, 2021
Lalasticlala
Romance › Re: I Mistakenly Sent 100k To My Girlfriend's Dad Account by milann: 3:44pm On Apr 03, 2021
Sixfeetbelle:
It's not greed. You're

Two months ago, myney to a man who did manual work for her. Normally, once I do the transfer, the receiver gets it immediately, but that day in particular, network was from the devil. The man called almost every hour wanting to know what was holding the money. Something I started trying around 11am was finally sent around 7pm. Now imagine if sometime in the afternoon, a mistake transfer had entered the man's account and he assumed it was from me. Would you say he's eady expecting?
This is where you are missing the point and that is very bad of you. Money you were not expecting was accidentally sent to you and the first thing you could think of is spending a chunk of it without verifying the source. What if it was coming from a yahooboy or corrupt politician, what will you do. We've heard stories of people getting implicated and arrested for scam after slush funds was laundered using their account.
Career › Re: Why We Shutdown Shoprite Stores In Nigeria - Workers by milann(op): 11:10am On Apr 03, 2021
Like seriously
Career › Why We Shutdown Shoprite Stores In Nigeria - Workers by milann(op): 10:16am On Apr 03, 2021
Shoprite workers at Lugbe, Abuja, on Friday, embarked on another round of protest, shutting down the company over a row with the management.


https://www.youtube.com/watch?v=4587DDddXJw

Cherish Ogenyi, the unit chairman and coordinator of the northern region of the National Union of Shop and Distributive Employees (NUSDE), an affiliate of the Nigerian Labour Congress, who spoke with PREMIUM TIMES described the action as “picketing”.

Cherish Ogenyi, the unit chairman and coordinator of the northern region of the National Union of Shop and Distributive Employees (NUSDE).

“What you see happening here today is just a picketing type of strike, that is what the workers came here to do. Just to picket the entrance of Shoprite. Apparently, in a bid to stop them from trading until our pending proposals and demands are met by the management,” he said.

Following the purchase of Shoprite Nigeria by some Nigerian investors, Mr Ogenyi said the workers are supposed to be paid off and not transferred to the new owners without their consent.

He said, “We held a similar strike on March 2, to which they rushed to the Ministry of Labour to lodge a complaint to them, the Ministry of Labour called us and an MOU was reached and agreed upon.”

Mr Ogenyi explained that one of the contents stipulated in the MoU with the Ministry of Labour in Lagos State was that Shoprite must not hand over on or before April 1, until all the parties come together to negotiate the pending agreement they had.

He said; “It was noted on the proposal that they are supposed to pay us off as workers, but we understand that gratuity is not obtainable under the Nigerian Labour Act. It has been expunged in 2004 Act as amended and is being replaced with pension act.


Under the same Labour Act, he said, “we have redundancy and when an entity is sold, the employee role under the old employer becomes redundant.”

Also, the NUSDE official stated that they also took cognisance of some of the clauses in the Nigerian Labour Act, especially sections 10 (I) & (II) which state that employees must not be transferred to another employer without first seeking the consent of such an employee.

Mr Ogenyi added that subsection (II) said after such consent has been granted, it is the duty of an authorised labour officer to endorse the consent.

“The company told us that the people who bought them, bought the workers. To us it is an insult because to us it is pure human trafficking and we will not accept it,” he said.

He said they have been going to Lagos to negotiate with the Shoprite management, but that they told them that they cannot pay redundancy to every worker because they’re not asking anybody to go, and that any worker who is not comfortable with them being transferred automatically without seeking their consent should resign.

Mr Ogenyi said they were told that because if they should pay off their experienced workers, the business would collapse under the new workers, but that they (NUSDE) asked them to terminate their existing contract, then allow interested workers to sign another MoU with the new employer.

“That way, whoever is comfortable with the new employer should stay, those who are not should be allowed to go,” he said.

Another worker, Gideon Akasin, who was seen seated on a table placed by the entrance of the shopping mall, carrying a placard with the inscription ” Save our souls, pay us our terminal benefits,” said the challenge they are having is that the company has been sold off, and that they have refused to pay them off.

“We have been trying to negotiate with them, but they seem to be tricky with our members. They keep tossing them around by asking them to come today, tomorrow and the next, we’re tired of such tricks,” the worker said.

Mr Akasin, who has been working with Shoprite for over five years said: “We are demanding for pay off, pay us off, let us go, then if they’re willing to re-engage us, they should call us back to sign another contract with the new owners.”

Tina Ehikhuemen, another worker who spoke with this newspaper, explained that the management of Shoprite has not been fair to them as staff of the company.

“If you’re working in a place and you’re treated fairly, you’ll be happy. But these people, they’re not treating us fine, they’re only treating us like slaves,” she said.

Ms Ehikhuemen said, “They’re enslaving us, especially the management, they’re not treating us well, you can’t sell your company and sell your staff alongside with it, who does that?

Customers react

Some customers who came for shopping but could not gain entrance into the mall shared their thoughts.

Emmanuel Yusuf said he felt disappointed with what happened, but that he is in full support of what the workers are doing after looking at the reasons why the protest is being staged.

“People can’t come to our country, invest, and we give you all you need and then you have Nigerian staff that are not treated very well, that’s bad,” he said.

Also, Bayani Yukana, said he came with the hope to buy stuff he could use to celebrate Easter, but that he was disappointed.

“The staff are demanding for their rights, and since they’re into business they know what is right for them and the other new company taken over,” Mr Yukana said.

However, the management, in a memo issued by its Divisional Human Resources Manager, Adeola Kagho, said the workers may be dismissed should they fail to return to work.

“Please note that your conduct is in breach of your contract of employment, company rules and procedures and the applicable federal legislation.

“The company is not prepared to tolerate your participation in any unlawful industrial action.

“The company is now considering appropriate action to be taken against you and this may include your summary dismissal, should you disregard the instruction/ultimatum hereunder.

“You are accordingly instructed to return to work immediately in an orderly and diligent manner,” Mrs Kagho said.

She urged the workers to follow the ‘established company’s internal procedure,’ should they wish to raise any grievance.
https://www.premiumtimesng.com/news/top-news/452948-why-we-shut-down-shoprite-stores-in-nigeria-workers.html

TV/Movies › Re: What Series Are You Watching Now? Part 2 by milann: 11:43pm On Apr 02, 2021
Who watches preacher?
Romance › Re: Man From Delta State Set To Wed Two Women On Same Day...see Their Pre-wedding Ph by milann: 1:50pm On Apr 02, 2021
frank202012:
oga women are more,

for nature to save itself,females has to be more.....
soldiers and bokoharam killing each other re all men....
ppl going to street hustle that never returned 99% of re men......
why do u think when there is a shipwreck they save women and children first....mankind can't go extinct with more women. ..

before the whites came to African,our fathers married 3,4,5 wives yet there are still unmarried maidens those days.....
I plan to marry three or more wives. I want a big family
Nairaland General › Re: Is Being Quiet A Sign Of Weakness by milann: 1:42pm On Apr 02, 2021
Speak out
Politics › Re: The Posh Adeyemo Alakija Street With Kings College Banner- Photo by milann: 1:28pm On Apr 02, 2021
Beautiful
Politics › Re: US Report On Lekki Shootings Misleading – Falana by milann: 1:26pm On Apr 02, 2021
The US dept of state should henceforth have no say in the affairs of this nation since they ve decided to side the villainous nigerian govt.
Politics › Re: How Nigeria’s Overdependence On Oil Revenue Increases Its Debt Profile by milann(op): 10:29am On Apr 02, 2021
NNPC is corrupt
Politics › How Nigeria’s Overdependence On Oil Revenue Increases Its Debt Profile by milann(op): 10:00am On Apr 02, 2021
An overhaul of the NNPC’s operations is inevitable to position it for efficient and competitive business, leading to increased revenues accruable to the federation accounts
By Ode Uduu

Nigeria’s Finance Minister, Zainab Ahmed, in 2019 acknowledged the country had a revenue problem. Mrs Ahmed made the comment while defending the 2020 budget before the National Assembly, where she sought approval for a loan to finance a ₦4.97 trillion deficit in the budget.

Some argued that the minister’s statement was a denial of the huge debt problem the government grappled with, and that it was only meant to play down the unhealthy loan habits and wasteful spending of the government. Yet, some believe the minister’s position that our dependence on declining oil revenue is the problem, not debts in itself.

Debates as this begs the question: Is Nigeria’s revenue woe owing to its limited sources of revenue? History suggests no. In times past, the country’s economy thrived relying on several sources of revenue generation. The advent of crude oil, however, saw the gradual neglect of other sectors as revenue sources for the country.

While the government consistently speaks of reforms to halt the country’s over-dependence on oil revenue, the budgets show the government has its eyes fixated still on oil revenue for survival. The federal government indicated in its budgets from 2010 to 2014 that it expects over 60 per cent of the revenue that will fund its spending to come from oil sales. While it budgeted lower in 2015 and 2016, it has since resumed an increasing reliance on oil to fund its budgets, from 51 per cent in 2017 to 66 per cent in 2019.

Though Nigeria’s budgets are made in expectations of high oil revenue, records show that the country has consistently not been able to generate its proposed target of oil revenue annually.

Why is Nigeria’s Oil Revenue Falling when Crude is sold at a higher price?
As projected from the Federal budgets, the selling price of crude oil indicates how much revenue Nigeria intends to generate from crude oil for the year. However, the final selling price is not determined by Nigeria, the seller, but out in the international oil market.

Fortunately for the country, data from the Budget Office and CBN shows that crude oil’s final average selling price was higher than the projected price in the budget, except in 2015, and ordinarily, these would have meant higher revenue from oil in all the other years than the oil revenue budgeted.

Yet, for the higher selling price of crude to translate to higher revenue, the country must produce at least the budgeted quantity as well. As a practice, the country in her annual budget proposes an amount to be sold to generate the predetermined revenue. This quantity is either met or exceeded for the period. Data accessed from Nigeria’s budget office shows that the government was unable to meet its proposed production target annually, except in 2011.

Although, on the average, there were shortfalls in the actual production of crude oil daily, there was a higher degree of increase in the product’s actual selling price. Thus, due to the favourable international price of crude oil, there was supposed to be a net increase in daily revenue in all the years, except 2016, Dataphyte’s analysis shows.

Surprisingly, while Nigeria has been gaining millions of dollars daily in crude sales more than it budgeted for, the country has been receiving lower oil sales returns from its national oil business handler, NNPC.

The NNPC’s published accounts reveal how its management unilaterally deducts substantial amounts from the oil revenue due for the federation account as costs, before handing the balance it so determines to the Federation Account. These defrayed costs include under-recovery costs (oil subsidy), product losses, pipeline management costs, besides others.

This shows that if NNPC reduces its business cost, the expected budgeted revenue can be achieved and even surpassed. Moreover, data indicates that NNPC is one of the state-owned oil companies operating at loss compared to its peers in other countries. In 2019, when other state owned oil companies declared massive profits in hundreds of billions of dollars, NNPC declared a loss of $0.52 billion, that is, 520 million dollars.

Thus, even if the country meets its expected oil production quota and sells crude at favourable international prices, all these may not readily translate into the expected values of oil revenue, until the country, through the NNPC and its subsidiaries, manages its oil business in an efficient manner.

Decreasing Oil Revenue and Increasing Debt Profile
Nigeria’s budget records over the years show that the federal government has been running all its budgets on deficits. A deficit budget is made when the government expects that its revenue in the new year will not be sufficient to fund its planned spendings. So, the government usually states that it intends to borrow from local and international lenders to fund the deficit, in addition to selling off some of the country’s assets to get money to spend in the present time.

However, in recent times, due to decreasing revenue from NNPC’s inefficient management of oil proceeds, and shortfalls from other non-oil revenue sources, the government has actually been experiencing a deficit more than they planned in the budget. This means, while revenue was decreasing more than planned, the government was borrowing much more than they planned. Dataphyte’s analysis showed a strong positive relationship between decreases in oil revenues and increases in budget deficits, with a 0.83 correlation coefficient.

Furthermore, Dataphyte’s analysis found a 0.71 correlation between Nigeria’s decreasing oil revenue and increasing budget deficits between 2010 and 2019. This means there is also a positive relationship between the degree of decrease in Nigeria’s oil revenue and the degree of increase in the country’s debt burden.

Although it may not be conclusive to say that this decrease in oil revenue is the main cause of the country’s growing debts, Nigeria’s ten year trend (2010-2019) shows strong links between the government’s revenue and its loan habits.

Lessons Learnt
An overhaul of the NNPC’s operations is inevitable to position it for efficient and competitive business. This will enable increased revenues accruable to the federation accounts and minimizes revenue leakages.

Moreso, Nigeria has the potential of improving her revenue position if it looks beyond oil to other non-oil taxes. As it stands, the tax system does not cover the entire labour force, as less than 30% pay taxes, according to a BBC report. This situation is compounded by the fact that not less than 65% of her working population works in the informal sector. This accounts for her inability to meet the required standard of 15% tax revenue to GDP, and reporting 6.1% tax revenue in 2019.

The Medium-Term Economic Framework (MTEF) may also incorporate expenditure benchmarks, rather than identifying only revenue benchmarks. This will regulate government expenditure, which will in turn improve the budget deficit situation, and by extension, reduce the country’s debt burden to the overall benefit of the citizenry.
https://www.premiumtimesng.com/news/headlines/451383-analysis-how-nigerias-overdependence-on-oil-revenue-increases-its-debt-profile.html

Christianity Etc › Re: Insecurity: Statement By Rev. Stephen Baba Panya, ECWA President by milann: 9:37am On Apr 02, 2021
Nigeria need prayers
Celebrities › Re: Nollywood Actress Mercy Aigbe Got Engaged Again After First Marriage Failed (vid by milann:
The owner must be one pussy whipped married man with wife and kids abroad. All these actresses, believe them at your own peril. We know as e dey go. Anyway, congratulations to her.
Travel › Re: Missing Air Force Alpha Jet Found Crashed At Abba-Jille, Fate Of Pilots Unknown by milann: 7:39am On Apr 02, 2021
I hope the pilots are safe
Politics › Re: Appeal Court Acquits Raymond Dokpesi & His Firm, Daar Investment (Photos) by milann: 3:53pm On Apr 01, 2021
Go and sin no more
Celebrities › Re: Bukky Wright's Son, OJayy, Gifts Her 2021 Range Rover Velar On Her Birthday by milann: 1:36pm On Apr 01, 2021
Ayo2004:
No be lie but once fathers Bleep up big time,he is seen as a failure and can be discarded by the children but if it is the mother,u start to hear"even if she is a witch,na my mama"

Personally I no get time for family wahala,I just wan make money,chop life,travel around the world and meet different kinds of babes and if I don reach like 50 something,I fit born 1 pikin

Life no hard reach that one,person wey just comot school wey just dey hussle go shaply go marry put hand for trouble born 5 pikin in 5 years,na men dey kill themselves
at 50, do you think you can handle the stress of raising a child
Foreign Affairs › Re: Australia To Produce Own Guided Missiles In Billion-dollar Plan by milann(op): 1:24pm On Apr 01, 2021
Australia too. Mukina2, humbledbygrace
Foreign Affairs › Australia To Produce Own Guided Missiles In Billion-dollar Plan by milann(op): 10:13pm On Mar 31, 2021
Mr Morrison said it was essential to create a “sovereign capability on Australian soil’’, to keep Australians safe.
Australia unveiled a plan on Wednesday to partner up with a global arms manufacturer and build its own guided missiles to boost the country’s defence capabilities.

Prime Minister Scott Morrison announced the accelerated creation of a one-billion-Australian-dollar (760 million dollars) sovereign guided weapons enterprise.

It will support missile and guided weapons manufacturing for the Australian military, Mr Morrison’s office said in a statement.

The Department of Defence was seeking an industry partner to operate a new weapons manufacturing facility on the government’s behalf.

Australian broadcaster ABC reported that Raytheon Australia, Lockheed Martin Australia, Konsberg and BAE Systems Australia were in the running.

Mr Morrison said it was essential to create a “sovereign capability on Australian soil’’, to keep Australians safe.

“As the COVID-19 pandemic has shown, having the ability for self-reliance, be it vaccine development or the defence of Australia, is vital to meeting our own requirements in a changing global environment,’’ Mr Morrison said.

Australia will work closely with the United States on the initiative, Defence Minister Peter Dutton said.

The new enterprise could be worth 40 billion Australian dollars in local production and export over the next two decades, according to Melissa Price, Minister of Defence Industry.
https://www.premiumtimesng.com/foreign/world-foreign/452374-australia-to-produce-own-guided-missiles-in-billion-dollar-plan.html

Politics › How Much Inflationary Pressure Do "Yahoo Boys" Heap On Nigerians? by milann(op): 10:02pm On Mar 31, 2021
To be sure, measuring the impact of 'Yahoo boys’ spending culture on the micro-economy, and ultimately inflation, could prove difficult, if not near-impossible.
By Oladeinde Olawoyin
When Nigerian ‘entrepreneur’ and Forbes Africa 30-Under-30 honoree Obinwanne Okeke (Invictus Obi) was sentenced to 10 years in prison for his involvement in computer-based fraud last February, the news “broke the internet”—-to adopt a Nigerian cyber lingo.

Expectedly, conversations shifted toward the dangers “yahoo boys” (internet fraudsters) represent for the average upwardly mobile Nigerian operating within the global space. Across social media platforms, Twitter especially, many Nigerians lamented the plausible effect of Okeke’s conviction on the image of other Nigerians doing legitimate businesses around the world. But I was quite amused that very little or nothing is said of whatever havoc, if any, these internet fraudsters wreck on the micro-economy.

Interestingly, the nation’s statistics bureau released a report the following day showing that Nigeria’s inflation rate shot up to 16.47%. I reckoned then, and even now, that there is perhaps a nexus somewhere.

Anyone who lives in a neighbourhood where ‘Yahoo boys’ and #Benefit Boys (fraudsters diverting Covid-19 relief funds) are quite much would most likely establish this nexus in the inflationary pressures on the prices of “luxury” goods and services within the neighbourhood: a persistent surge in the prices of designer jeans and shirts, colognes, boxer shorts, pizza, grilled fishes, Asun and Shawarma, groceries, and such services like body massage, hair cut, gym services, and related stuff. And because Yahoo boys rarely deal heavily in things like Kuli-Kuli, Fufu, Moni-moni, Iru pete (locust beans), Beske, Okpa, Awara, and related stuff, the (micro) pressures may not spread toward the prices of those goods. In a sense, that does not only explain that the inflationary concerns in such neighbourhood aren’t necessarily the same as the country-wide concerns, it shows that the pressure is heightened largely by the (illicit) purchasing power of those Yahoo Boys in that community.

Inflation simply refers to increase in the prices of goods and services. And whether it is creeping (3% rise in a year or less), walking (between 3-10%), galloping (10% or more), or hyper (more than 50% a month), they all have varying degrees of impact on the economy. Of course, the fundamental goal of managers of the economy is to keep prices stable at rates that would not wreak havoc on the system.

In February, Nigerian inflation hit a new high as food prices jumped more than 20 per cent, heaping financial pressure on households amid slow economic growth. Driven largely by the impact of a coronavirus pandemic that has also induced a drop in the price of oil and weakened the naira, inflation reached 17.33%.

In understanding Nigeria’s inflationary concerns, much is often said about monetary expansion, driven mainly by expansionary fiscal policies, and its impact on the dynamics of growth and inflation. There have also been concerns around devaluation of the naira, an exercise the nation went through twice in 2020, and how it triggers inflation.

In recent months, there have been talks around food insecurity, buoyed by widespread violence in most of Nigeria’s farming communities, occasioned by the tensions among herders and farmers. There was also a recent (food) blockade announced against southern Nigeria, one that made a bad situation worse. Given that food prices, which made up the bulk of the inflation basket, rose 21.79% in February, these are all valid concerns.

But one tiny aspect of the conversation which gets little or no attention is the place of illicit money in the micro-economy, chief among which c0mes from internet crimes.

At the micro-level, Yahoo boys disrupt the neighbourhood markets and influence upward movement of prices with their trademark reckless spending; ultimately making a mess of the average person’s earning power/disposable income. In a nation where workers’ wages do not move with inflationary pressures, where governments at the sub-national level are still debating the possibility of paying N18,000, only those at the lower rung of the ladder bear the brunt.

In contemporary times, there are places the average salary earner can’t afford to rent a modest apartment, especially in Western Nigeria. And that’s not because the infrastructural facilities are superb, nor because the houses are really spectacular; it’s largely because of the “crowding out” effect of “Yahoo-yahoo”. In those places, you’d have to outspend young yahoo boys living large with no legitimate source of income, ever ready and willing to pay huge amounts on properties, and, thus, shooting up the market prices beyond the reach of the everyday Lasisi, Chinaza or Aliyu.

Like any other form of illicit financial flow, internet scam places economic power in the hands of criminals, making a mess of legitimate hustlers’ sweat, with rapacious traders and service providers pushing prices up at dizzying heights, especially at the micro-level. Anyone who has had any interaction with folks in the real estate sector in recent time, especially on the Lagos-Oyo-Ogun corridor, would probably have had to face the “crowding out” effect of the overwhelming presence of ‘Yahoo boys’ in that sector. Landed property that ordinarily should be sold at prices within the reach of the average salary earner has since been overpriced.

The first cohort of Nigerian fraudsters who operated in the 1990s was largely uneducated, and that group was followed by others who were frustrated by the nation’s poor economy. Between the 1990s and now, Nigeria’s economy has gone through a lot, with the nation’s statistic bureau putting the unemployment figures at 33.3% in its last report. Consequently today, internet fraud has become a near-pandemic among Nigerian youths, with almost every skinny boy in sagging trousers sitting in an apartment and diverting huge cash into his bank accounts. And because the market is no respecter of ‘morality’, and price responds largely to demand and buyers’ purchasing power, inflation sets in and the power dynamics swing toward those who wield the Benjamins, leaving the economically powerless (even if law-abiding) in the lurch.

To be sure, measuring the impact of ‘Yahoo boys’ spending culture on the micro-economy, and ultimately inflation, could prove difficult, if not near-impossible. It is very unlikely that such a variable would even have any major impact on Headline inflation. But given the ubiquity of ‘Yahoo boys’ in our neighbourhoods in recent years, it would be interesting to know what the impact is in (micro)economic terms, beyond the oft-trumpeted concern around Nigeria’s diplomatic image.

On the flipside of the ‘Yahoo-yahoo’ spending culture on the micro-economy is the bigger impact of other forms of illicit financial flow on the macro-economy, as captured in the activities of those a pop artist described as “Agba Yahoo” (Older Yahoo boys)–the oil tycoons, politicians, bankers, etc.

In the end, the pressures come from both ends. And it’s a case of double jeopardy for the average salary earner, poor artisan or struggling entrepreneur—both at the micro and macro levels.
https://www.premiumtimesng.com/business/business-data/451854-how-much-inflationary-pressure-do-yahoo-boys-heap-on-nigerians-by-oladeinde-olawoyin.html

TV/Movies › Re: What Movie Are You Watching Now? by milann: 10:30pm On Mar 30, 2021
drmikeadams:
If u like true life movies. ..watch
Judas and the black Messiah... THE Mauritania
i have the latter on cue.

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