₦airaland Forum

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THE Peoples Democratic Party Fund Raising Dinner held at the Presidential Villa, Abuja, to boost President Goodluck Jonathan’s campaign war chest has been attracting public attention. The event, which took place last Saturday, was attended by business people, multinational organisations, interest groups and individuals who donated a sum of N21.27 billion to support his campaign for the 2015 presidential election.

But the President and his party will definitely have trouble explaining away this latest bizarre development in regard to the law of the electoral game and the morality in politics.

Though how a political party’s candidate raises his or her campaign funds is the party’s affair, the process must comply with the extant laws and pass the integrity test. First, Nigerian laws are unambiguous on campaign expenses and funding. The 1999 Constitution in Section 221 clearly states: “No association, other than a political party, shall canvass for votes for any candidate at any election or contribute to the funds of any political party or to the election expenses of any candidate at an election.” The Companies and Allied Matters Act also expressly forbids companies in Section 38 (2) from funding or donating gifts, property or money to any political party or association. Then the Electoral Act 2010, as amended, specifies in Section 91 (2) that “the maximum election expenses to be incurred by a candidate at a presidential election shall be N1 billion.”

But Jonathan, the ruling PDP and its 21 state governors took lawlessness to a new height on Saturday when one Tunde Ayeni, leading other donors, gave N2 billion on behalf of himself and his unnamed “partner” and “friends.” Jerry Gana, a permanent fixture in successive governments, announced N5 billion on behalf of his equally mysterious friends and “associates in the power sector.” Not to be outdone, oil and gas sector “friends” also pledged N5 billion; real estate and building sector, N4 billion; transport and aviation sector, N1 billion; food and agriculture, N500 million; power, N500 million; construction, N310 million; road construction, N250 million; National Automotive Association, N450 million; and Shelter Development Limited, N250 million. Going by the Electoral Act, which caps the donation an individual could make at N1 million, 5,000 donors must have been behind Gana’s N5 billion gift.

There is no doubting the fact that these donations raise salient questions verging on transparency. At a period when the government should be taking interest in enforcing compliance with the money laundering laws, people should not come out to announce donations on behalf of themselves and their “friends,” without actually naming those “friends.” It should also be of interest to know if those donors and their anonymous “friends” have complied with appropriate tax obligations. International best practices stipulate this as the minimum irreducible requirement.

Many Nigerians will also be interested in knowing how the Board of the Niger Delta Development Commission, which was credited with producing N15 million, came about its donation. As a government agency, where did it derive such powers to donate to a political party from? Having done this for the PDP presidential campaign, will the commission also make a similar amount available to other parties?

As for the sectoral donors, there is also the need for total disclosure. Who were the actors in the oil and gas sector that donated N5 billion? If they are publicly quoted companies, did they get the approval of their shareholders before going on the spending spree? How did the power sector that has not been able to muster enough investible funds come about a N500 million donation? With the automobile industry donating N450 million, it is no longer surprising that it benefited so much from the government’s controversial waivers.

Ayeni, a legal practitioner whose consortium recently acquired NITEL and Mtel, is also the chairman of Skye Bank Plc and a director in the Ibadan Electricity Development Company. Given that these big time sectoral players have suddenly become the big donors to the President’s campaign, what is the guarantee that regulators would be able to control them? It is little wonder that the government, after selling the power sector to private operators, is still interested in arranging a N213 billion bailout for them.

So, except the players in the various sectors donated their own money, they have brazenly violated the law if they did so on behalf of their companies. The relevant authorities should demand their tax returns. As of 2010, domestic airlines collectively owed banks and regulators over N300 billion. To say the least, this is another outrageous example of brazen impunity in government.

Indeed, a string of ugly scandals has dotted the Jonathan administration. Among the most unsettling cases is the N2.53 trillion paid out in 2011 as petrol subsidies to cronies and “ghost” businessmen when the National Assembly approved only N245 billion that year. We also recollect the mind-numbing loss to the national treasury of some questionable waivers that cost the country N64 billion in first six months of the year. Funds that disappeared from the public till can now find their way back as campaign donations. There is also the unresolved issue of missing billions of dollars at the state-owned oil company.

This scale of campaign slush funds and illegal contributions in return for some political and economic favours is deeply worrying. On moral grounds, leveraging on political power to raise campaign funds is corrosively anti-democratic. That it was done by previous administrations should not be a justifiable excuse for the flagrant abuse of power. There is next to no doubt that some of these funds are of doubtful origin. It is just sickening to find a President who claims to be fighting corruption fraternising with the venal high and mighty.

But a graver worry is how the toxic donations will further poison the electoral process and shore up the system of patronage. We are also faced with a total collapse in political morality, with corruption worn now as a badge of honour. It is sad to note that there is an instinctive conclusion among the Nigerian public that the Jonathan government is the most financially corrupt, fiscally irresponsible, politically insensitive and socially disconnected in Nigerian history. What a shame! The 21 PDP governors should also explain if their state legislatures approved the N50 million each they donated and whether they will extend the largesse to other parties.

In real democracies, laws regulate the conduct of candidates and international best practices demand transparency and specificity in campaign financing. In the United States, for instance, campaign contributions from government contractors, personal or business funds, individuals or sole proprietors who have entered into a contract with the government are prohibited by law. Any infraction or suspected questionable behaviour is investigated and culprits punished. This explains why French authorities since 2013 have been investigating Nicolas Sarkozy, the immediate past French President, over the allegation that he received €50 million from the late Muammar Gaddaffi as financial help for his 2007 presidential campaign. The US federal prosecutors have launched a clutch of corruption investigations against politicians such as Washington Mayor, Vincent Gray, and Virginia governor, Bob McDonnell, who received money from local businessmen they claim was in accordance with accepted campaign finance practices.

Impunity starts from little things left unpunished. These financial irregularities inside the Jonathan re-election campaign should also be investigated. While Section 8 (1) of the Federal Inland Revenue Service enabling law empowers the FIRS to adopt measures to identify, trace, freeze, confiscate or seize proceeds derived from tax fraud or evasion, Section 35 (3) says “…the Service may cause investigation to be conducted into the properties of any taxable person if it appears to the Service that the lifestyle of the person and extent of the properties are not justified by his source of income.” Most of the donors in this bizarre event fall within this category. The Economic and Financial Crimes Commission has sufficient grounds to investigate the suspicious financial transactions.

It is all evident that Jonathan has failed badly to build a credible, honest and minimally effective government for almost half a decade that he has been President. This is regrettable indeed.


Source:http://www.punchng.com/news/jonathans-n21bn-donation-impunity-taken-too-far-2/

Not bad

https://www.nairaland.com/1952059/how-weak-naira-versus-dollar#28693693

Moneyb:
It was the beginning of the year in 2009 and Mr. Ogilisi was discussing a deal with his suppliers abroad to import goods worth over $200,000. His suppliers had asked him to commit to six months supply of the product at a price of about N150 to the dollar. Since he felt he did not need to restock until after Easter he declined the offer. By April when he was set to make the new order the exchange rate had suddenly plunged to N180 at the Bureau d Change!!

If you haven’t been following the news lately then be informed that oil price is currently on a free fall. The price of oil in the world market has nosed dived over the last two weeks sending world markets into panic mode. From about $115 back in June it has plunged to under $90. Many believe this has dire implication for oil exporting countries like Nigeria, as this will mean lower dollar revenue and a possible weaker naira. But more importantly, this could mean many things for you as an individual. Let’s start with the good.

If you export things

If you are in the business of exporting things outside Nigeria then you should be excited about this. This is because it mostly favours an exporter when his home country’s currency is devalued. Assuming you sold $100 worth of items at N165 costing you N16, 500. If the Naira depreciates to N170, then you get N17, 000 for that same item you sold for $100.

If you bought investments in dollars

Some Nigerian banks recently sold Eurobonds that attracts interest payments in dollars. For every naira that gets depreciated you earn more in naira when interest is paid to you. Most savvy investors use financial products like this as a hedge against currency drops. It makes some sense to always save some of your money in hard currency, after all Nigeria as a country does so too.

If your salary is in dollars

If you are lucky enough to earn salaries in dollars then a falling naira favours you immensely. Each time you convert your dollar salary to naira you make more than you would have before the naira was depreciated. This is why most expatriates like to cap their salaries in dollars. Some industries typically pay their staff in dollars even if they are Nigerian.

If you save in dollars

As mentioned above, keeping some of your investment in dollars is a good way of keeping a good hedge against currency fluctuations. You can do this in a routine manner by buying dollars occasionally and stashing this in your bank account. Apart from giving you a good hedge, it can also come in handy when you travel abroad or want to take advantage of the arbitrage that occurs when the naira devalues considerably.

Hanging fruit

The market presents opportunities at times like this, as most investments are undervalued. Investors perceive a fall in oil prices and its potential impact on the naira as a bad signal and therefore dump investments. It’s like throwing the baby and the bath water away because they more often than not also dump company’s that still have sound fundamentals. Long-term investors with an eye for a bargain can scoop up good such investments with very sound fundamentals.

The Bad

Your planning vacation

The Xmas season is close and many will be traveling out of the country for holiday. A further depreciation of the Naira suggests you will probably have to spend more than you would if things were stable. For those who probably rely on ‘thirteenth month’ salary or bonuses for their holidays, they most likely face the risk of spending more if the naira depreciates.

Invest in stock market

The Nigerian Stock market has been in a bearish mood for days now as the world reacts to a sudden turmoil in the markets. Oil stocks for example are getting dumped due to concerns that a fall in oil price may affect their results and thus ability to pay dividends as expected. This sort of fear also causes a form of contagion as stocks in other industries face similar sell offs. Banking stocks for example, have taken a hit this week on the back of the bearish mood in the market. These are all bad for short-term investors.

You import things to sell

A falling dollar is not good for importers as prices of goods that they sell become expensive. When they are expensive, people decline from buying thus hurting their sales. This puts immense pressure on traders and if not mitigated, many can see their businesses collapse. Household budgets will also come under pressure as most items we consume may become expensive.

School fees

Some Nigerians have children abroad studying at various levels. These schools charge tuition in foreign currency whilst the out of pocket expenses, accommodation etc. are also spent in foreign currency. Therefore a rising dollar and falling naira just makes this much more expensive to afford on the long run.

Your salary or income gets affected

A weaken naira can also increase operational cost for small business making it difficult for them to increase salaries or even pay bonuses. Unfortunately, a stagnant salary doesn’t mean expenses remain stagnant too. When cost of living increases, you find it increasingly hard to keep up with a stagnant income.

What’s your experience with exchange rate fluctuations?


Source: http://www.punchng.com/business/am-business/how-weak-naira-versus-dollar-affects-your-money/



What’s your experience with exchange rate fluctuations?
How did it affect your import or export? Let us know, share from your experience so that others can benefit.

Now that the value of naira keeps decreasing, it is getting more and more difficult to import. But, for exporters they will always smile to the bank at least for now.

Kennyfancy:
so pls hlp ur guy with legit company that cn trade for me

Try this pple http://marketsgain.net/fund-management-service/


My 10kobo advice

Kennyfancy:
pls can DAT company trade for me.. I want to invest with them pls

If you need a good company that can trade for you go to http://marketsgain.net/fund-management-service/. They are better and probably the best in africa with good track records.

comprende:
Hi All,

I read about PAMM account investments on Alpari Forex and would like to know if anybody in the house has ever invested in it.

My experience with Forex fund managers is that virtually all of them collapse after a short while. I would like to find out if the PAMM accounts managed by Alpari forex are the exception.

Are they safe and reputable. Also is the return on investment meaningful?

Yes they are but not for all the brokers.

My piece of advice for you is if you have any investable funds and you want it to be managed by a reputable organisation trading forex, my best bet is http://marketsgain.net/fund-management-service/. They are tested and trusted.

jpphilips:
If this things you wrote convinced you otherwise of Jonathan's "cluelessness" then you must be below average in your ability to analyze events holistically.

You conveniently forgot that the man you are Eulogizing by virtue of luck has become the number one citizen of the most populous black nation in the world, the 7th most populous nation in the world, the sixth oil producer in the world, the highest oil producer in Africa with Africa's biggest GDP, with propensity to rival some European countries, home of four African's richest men.

It is very unfortunate that poor education and lack of enlightenment have left you with a microscopic mindset to actually think that a president who has lost focus on governance, who seems not to realize that the potentials of the nation is enough to put it on the global map as a major player, I have no doubt that your mindset is shared by the team of nincompoops on the advisory payroll of Mr president.

To your pea sized hollow brain, sleeping with expired clueless politicians like Bamangar tukur, is a tactical political maneuver, should I blame you? of course not, when tiny countries like Ukraine on the world stage have almost secured a position in NATO, the most powerful alliance in the world, an alliance whose economic sanctions alone has isolated a Russian super power, led by an EX KGB supremo, never mention the over $19b economic perk that came with the alliance.

Look around you, with all the institutions in Nigeria all comatose, with all the apparatchik Jonathan wields, he needed foreign assistance for a rescue operation, is that not shameful enough, for someone you think is smart? liken his imbroglio with his underfunded Cameroonian, Chadian and Kenyan counterparts who have executed three successful high profile rescue operations from the last count.
you lack the ability to see beyond the mustache of your daily bread.

Let me be clear, the whole, Amaechi, Bamangar, Governor's forum, Timi Alaibe are mere PETTY POLITICS, politics with zero significance on the lives of the Nigerian people, Politics that is best appreciated by nonentities like this OP whose enlightenment is at its ebb, Politics meant for countries with out a clear direction of what its existence is, Politics of charlatans complemented by the buffoonery of disgruntled citizenship and follower ship.

Mr OP, Your mindset is too petty to nurse as an individual, what is president Jonathan's foreign policy? ordinary south Africa, Kenya and even Ghana can sanction Nigeria/Nigerians at will and you think Jonathan is smart?
A president who begged for Ebola Vaccine, begged for Intelligence to combat boko haram, begged for arms, what has a man who have perpetually remained a beggar in the midst of plenty got to do with intelligence?
It took the US less than a month to rally support from allies and foes (Arab league) to clench the nod of over 11 countries to dismantle ISIS, now that is the real politics, politics where the interest of your nation is held beyond umbrage, politics where you have the ability to convert an enemy to an ally for a pecuniary interest, politics of men of Valour,appreciated by citizens who bears no shame to hold their shoulders high and echo the thunderous "HOME OF THE BRAVE".

You are telling us nonsense about petty thieves like Timi alaibe and Amaechi, who are they on the world stage where the fate of nations are decided? an ordinary senator Mc cain of the United States addresses your president as "some guy" because he has no name, he is a nobody on the international stage, no power, no influence. If he is not begging for foreign investment, he is begging for foreign assistance and you have the temerity to say he is smart? what is smart about begging?

I regret sharing a passport with people like this OP whose IQ rivals that of a mice, infected with Ebola.

My man, re-read the article, i am(OP) not supporting the writer, i only posted the article here as i got it from punch. Check the source before you go on abusing the OP.

Piece of advice: Always read and understand before abusing people on nairaland. FYI, am not supporting GEJ.

greatbygrace:
Thanks a lot...

U re welcome

pipsTaper:

thanks

aboyaji:
is it applicable to a 90 year old man?

Yes, if the old man has been eating the aforementioned foods when he was young, it will surely decrease the deterioration rate of the old man sight.

fxstory:
just straight to the points.nice write up

thanks

Despite many attractive characteristics of forex trading, the foreign exchange market is vast, complicated and ruthlessly competitive. Major banks, trading houses and funds dominate the market and quickly incorporate any new information into the prices.

Foreign exchange is not a market for the unprepared or ignorant. To effectively trade foreign currencies on a fundamental basis, traders must be knowledgeable when it comes to the major currencies. This knowledge should include not only the current economic stats for a country, but also the underpinnings of the respective economies and the special factors that can influence the currencies.

Introduction to the Yen
Just seven currencies account for 80% of the forex market, and the Japanese yen is one of the largest currencies, in terms of international trade and forex trading. That is only fitting, as Japan is one of the largest economies in the world, with one of the highest GDP among nations and is one of the largest exporters, in dollar terms.

All of the major currencies in the forex market have central banks behind them. In the case of the Japanese yen, it is the Bank of Japan. Like most developed country central banks, the Bank of Japan has a mandate to act in a fashion that encourages growth and minimizes inflation. In the case of Japan, however, deflation has been a persistent threat for many years, and the BOJ has pursued a policy of very low rates in the hopes of stimulating demand and economic growth; at various points in the 2000s, real rates in Japan were actually slightly negative.

The Economy Behind the Yen
The Japanese economy has some particular and peculiar attributes that yen traders need to understand. Firstly, despite its size, Japan has been notably lacking in growth since the collapse of its real estate bubble. Writers often refer to a "lost decade" in Japan because of this reason. Although that may not be entirely accurate, growth has rarely exceeded 2% in Japan between 2001 and 2011, and has contracted to zero or negative rates multiple times. Japan is also notable for inflation, or rather its almost near-absence of it; Japan has actually experienced deflation for much of the last decade.

Second, Japan is also the oldest major economy in the world and has one of the lowest fertility rates. That suggests an increasingly aging workforce with fewer and fewer younger workers to support the economy through taxation and consumption. Japan is also quite closed to immigration and that establishes difficult demographics.

Lastly, Japan is also an advanced economy with a well-educated workforce. Although industries like shipbuilding have migrated to countries like South Korea and China, Japan is still a leading manufacturer of consumer electronics, autos and technological components. This has left Japan with significant exposure to the global economy, but increasing reliance on China as a trade partner.

Drivers of the Yen
There are several theories that attempt to explain foreign exchange rates. Purchasing power parity, interest rate parity, the Fisher effect and balance of payments models all offer explanations of the "right" exchange rate, based on factors like relative interest rates, price levels and so forth. In practice, these models do not work especially well in the real market – real market exchange rates are determined by supply and demand, which includes a variety of market psychology factors.

Major economic data includes the release of GDP, retail sales, industrial production, inflation and trade balances. These come out at regular intervals, and many brokers, as well as many financial information sources like the Wall Street Journal and Bloomberg, make this information freely available. Investors should also take note of information on employment, interest rates (including scheduled meetings of the central bank) and the daily news flow; natural disasters, elections and new government policies can all have significant impacts on exchange rates.

In the case of Japan and yen traders, the Tankan survey is particularly noteworthy. Many countries report information on business confidence, and the Tankan is a quarterly reported published by the Bank of Japan. The Tankan is seen as a very important report, and often moves trading in Japanese stock and currency; trade flow data is also uncommonly important for the yen.

Carry Trade
In many respects, BOJ policy drives carry trades across the world. Carry trading refers to borrowing money in a low-interest-rate environment, and then investing that money in higher-yielding assets from other countries. With a stated policy of near-zero interest rates, Japan has long been a major source of capital for that trade. That also means, though, that talk of higher rates in Japan can send ripples throughout the currency markets.

Unique Factors for the Japanese Yen
While the BOJ has maintained low rates since Japan's property bubble collapsed, the bank has also been involved in currency intervention – selling the yen to help keep Japanese exports more competitive. This intervention has carried political consequences in the past, though, so the BOJ is relatively hesitant to intervene in the forex markets relative to its past history.

Japan's trade balance also impacts BOJ policy and forex rates. Japan has large trade surpluses, but very large public debt and an aging population. A large percentage of that debt is held domestically, though, and Japanese investors seem willing to accept low rates of returns.

The yen is the signature currency for Asia; it is one of the top most frequently traded currencies in the world, and a significant reserve currency for many Asian countries. While the significance of the yen could be at risk if the Chinese yuan becomes more liquid, that would likely be a multi-year process.

That said, the relative stability of the yen has made it a backup reserve currency for many countries. While Japan has very high debt levels, traders tend to be more comfortable with Japan's debt balance, as so much of it is domestically owned. Moreover, traders often balance the high debt level of Japan with its high trade surplus, though the devaluation of the dollar and the "safe haven" status of the yen has led to a stronger yen that threatens the very trade surplus that makes the yen attractive.

The Bottom Line
Currency rates are notoriously difficult to predict, and most models seldom work for more than brief periods of time. While economics-based models are seldom useful to short-term traders, economic conditions do shape long-term trends. Japan's strong trade surplus will likely maintain the country's position as a relative safe haven for some time to come, but the aging workforce, persistently low consumer and business confidence, as well as the rising significance of China as an economic rival, do threaten that position.

Got anything to add, let us know

arcbay:
wow!!! I guess this thread was created for dog haters...I think u've all seen this as an avenue to purge your aggression. why not post pictures of the 2 dogs with their owner being arrested or #idonbelieveit#...Wonderful tale you just told us though, nice one

follow the link n see for yourself

morefire:
ok so as a beginner how much am i looking at?

Check the site http://marketsgain.net/training/ but i think for beginners is 75k while for advanced is 250k - confirm from their site.

morefire:
please suggest a good broker that i can trade with

please share from experience

Usually i don't recommend brokers, but if i were to recommend one, i would recommend 3 though they also are dubious in their own ways.
If u av btw $500 to $2000 go for instaforex or fxtm but when your money gets over $5000 change broker.
If u av btw $2000 to $10000 go for alpari uk
If you have over $10,000 contact me to recommend a good broker for you.



My own opinion from my experience anyway, feel free to do your own research to know which one is the best for you.
Shalom

morefire:
and did you see the Training fee is N250,500.

Yes, i once partook in the training though it is advanced training anyway. Not for beginners- they have a different offer for beginners

It was the beginning of the year in 2009 and Mr. Ogilisi was discussing a deal with his suppliers abroad to import goods worth over $200,000. His suppliers had asked him to commit to six months supply of the product at a price of about N150 to the dollar. Since he felt he did not need to restock until after Easter he declined the offer. By April when he was set to make the new order the exchange rate had suddenly plunged to N180 at the Bureau d Change!!

If you haven’t been following the news lately then be informed that oil price is currently on a free fall. The price of oil in the world market has nosed dived over the last two weeks sending world markets into panic mode. From about $115 back in June it has plunged to under $90. Many believe this has dire implication for oil exporting countries like Nigeria, as this will mean lower dollar revenue and a possible weaker naira. But more importantly, this could mean many things for you as an individual. Let’s start with the good.

If you export things

If you are in the business of exporting things outside Nigeria then you should be excited about this. This is because it mostly favours an exporter when his home country’s currency is devalued. Assuming you sold $100 worth of items at N165 costing you N16, 500. If the Naira depreciates to N170, then you get N17, 000 for that same item you sold for $100.

If you bought investments in dollars

Some Nigerian banks recently sold Eurobonds that attracts interest payments in dollars. For every naira that gets depreciated you earn more in naira when interest is paid to you. Most savvy investors use financial products like this as a hedge against currency drops. It makes some sense to always save some of your money in hard currency, after all Nigeria as a country does so too.

If your salary is in dollars

If you are lucky enough to earn salaries in dollars then a falling naira favours you immensely. Each time you convert your dollar salary to naira you make more than you would have before the naira was depreciated. This is why most expatriates like to cap their salaries in dollars. Some industries typically pay their staff in dollars even if they are Nigerian.

If you save in dollars

As mentioned above, keeping some of your investment in dollars is a good way of keeping a good hedge against currency fluctuations. You can do this in a routine manner by buying dollars occasionally and stashing this in your bank account. Apart from giving you a good hedge, it can also come in handy when you travel abroad or want to take advantage of the arbitrage that occurs when the naira devalues considerably.

Hanging fruit

The market presents opportunities at times like this, as most investments are undervalued. Investors perceive a fall in oil prices and its potential impact on the naira as a bad signal and therefore dump investments. It’s like throwing the baby and the bath water away because they more often than not also dump company’s that still have sound fundamentals. Long-term investors with an eye for a bargain can scoop up good such investments with very sound fundamentals.

The Bad

Your planning vacation

The Xmas season is close and many will be traveling out of the country for holiday. A further depreciation of the Naira suggests you will probably have to spend more than you would if things were stable. For those who probably rely on ‘thirteenth month’ salary or bonuses for their holidays, they most likely face the risk of spending more if the naira depreciates.

Invest in stock market

The Nigerian Stock market has been in a bearish mood for days now as the world reacts to a sudden turmoil in the markets. Oil stocks for example are getting dumped due to concerns that a fall in oil price may affect their results and thus ability to pay dividends as expected. This sort of fear also causes a form of contagion as stocks in other industries face similar sell offs. Banking stocks for example, have taken a hit this week on the back of the bearish mood in the market. These are all bad for short-term investors.

You import things to sell

A falling dollar is not good for importers as prices of goods that they sell become expensive. When they are expensive, people decline from buying thus hurting their sales. This puts immense pressure on traders and if not mitigated, many can see their businesses collapse. Household budgets will also come under pressure as most items we consume may become expensive.

School fees

Some Nigerians have children abroad studying at various levels. These schools charge tuition in foreign currency whilst the out of pocket expenses, accommodation etc. are also spent in foreign currency. Therefore a rising dollar and falling naira just makes this much more expensive to afford on the long run.

Your salary or income gets affected

A weaken naira can also increase operational cost for small business making it difficult for them to increase salaries or even pay bonuses. Unfortunately, a stagnant salary doesn’t mean expenses remain stagnant too. When cost of living increases, you find it increasingly hard to keep up with a stagnant income.

What’s your experience with exchange rate fluctuations?


Source: http://www.punchng.com/business/am-business/how-weak-naira-versus-dollar-affects-your-money/



What’s your experience with exchange rate fluctuations?
How did it affect your import or export? Let us know, share from your experience so that others can benefit.

Skrhema:
pls how soon can one make money in forex trading?

U can make money in forex, but it is not a get rich quick scheme except you want to burn your finger.
My piece of advice for you is to get trained through a tested, trusted and experienced forex trading company in Nigeria here such as http://marketsgain.net/training/ where you will get al the support and mentorship u need to make it big in forex trading.

My 2 cent advice.

jamace:
COMANDCLEM comes to mind.
It is high time Nigerian govt came into this matter. The sweat of a Nigerian citizen should not be eaten by foreigners on Nigerian soil. That is an abomination! Federal govt , come into this matter please.

Abi o, tel dem, let dem kno

Well done OP for the good job. Pls always post the results of the trades you have taken with any analysis u give us so that we wil be able to relate very well like the one i found in this site http://marketsgain.net/performances/ who are into forex signals service and selling of trading softwares. Thanks , u re tthe best. No hard feelings pls.

Hello OP, well done for the good job you are doing. I av veen following you for a very long time now, my piece of advice is after posting the analysis and the results of your trades, it will really be nice if you can be posting graphical pictures of the trades closed and the profits too like this one below i got from http://marketsgain.net/performances/ who are also into paid signal service eventhough yours is free

There are some analysis i av done and will like to post the result here
Oil coming down
CAD/JPY coming down
USD/CAD going up
AUD/USD going up
NZD/USD going up.
Those are my analysis but not backed with any theory, they are for today and tomorrow morning.



And again there is this signal service i subscribed to at http://marketsgain.net/ they have been good so far (proof below, yesterday's results). Thought u people are from them.

clementcro:
Are you a forex trader? how long have you been trading forex?

Well, if u want to know, i am.

joe17:
Good tips bro

thank u

elpiroski:
This case of Exxon Mobil and Prof. Emeritus
C.J.A Uwemedimo has been on for as long as I remember. Never knew the implications of the verdict.
Anyway, make Mobil take time o
U exploit our natural resources
Now u want to exploit the human resources
Diaris God oooo

Abi oo

chuks04:
Real estate
Transportation biz(local or international) Note pls you most be 100% part of it or fget it.
Food

thank u

OCTAVO:
Transport biz.

thank u

wealthinfos:
Its Real Real Estate business. The reason is that you can start with almost zero capital and hit ur first one million and even millions in close time. But you need to understand how the process works over time.

thank u.

joseph1013:

How much is your commission?

1000%

fizcoo20:
fish farming.
traveling industry.
transport business( u will manage it urself. dnt give it to pple to manage it for u.)
Agriculture.

Thank you. More pls

Pls house, i would like to know in your own opinion what the most profitable business in the Nigeria is. Your contribution will be highly appreciated.

N.B: Pls it can be in any sector