₦airaland Forum

Bullfallo:
.some years ago i wow a babe next to me in church service and everything went well. When j ask for her number she gave it to me instantly.

Next the service became boring and I decided to brows nairaland. As i was scrolling down on topic on the home pages it was pornography imagine that cover my screen and she saw it. As my hand was shaking to quickly cut the browser off the next page that appears was bet9ja. All inside the church service she was so furious.

And her attitude changed. After everything This babe refuse to pick my calls. Then she text me on WhatsApp that was she was angry that I couldn’t even waited after the church service. She is no longer interested.

Ofodirinwa:
high voltage ignorance.

kettykin:
If this is true then the igbo empire just got extended by more than a million times.

Who else realizes that a lot of yoruba leadership might be actually igbo offspring, I mean how do i explain to my children that the highest ranking yoruba man in leadership, achievement, world ranking etc is actually an igbo man.

naija4life247:
I am sure they are the Mexico and Columbia of Africa. Anything hard drugs

In 1904, Ota Benga was abducted from Congo and transported to the United States, where he was put on display alongside monkeys.

Benga was placed in a cage with an orangutan as a lampoon on Darwinism.

Benga he was given a functional bow and arrow to protect himself from the orangutan if need be. However, he often used it on the visitors who mocked him instead.

After he was freed from the zoo, he tried to return to Africa but the outbreak of WWI stopped that from happening.

Benga sadly took his own life in 1916.

datola:
Reno has come again for MTN

Nwodosis:
Take a break, you have achieved your destruction of the party.

. harmonisation of government policies

. macroeconomic stability through inflation control

. limit on public debt

. maintenance of a balanced current account.


At this time, it’s hard to say whether these countries have done this.

Does their monetary union membership make any difference?

These three countries have been part of the West African Economic and Monetary Union since 1963. In theory, this should give them some experience in coordinating economic and monetary policies through the CFA franc.

They could have experience with infrastructure, like the Central Bank of West African States (which manages the single currency and monetary policy for member states), that would help them with the transition.

What are the potential gains and risks of the initiative?

Despite the risks involved, the initiative could bring several benefits.

Establishing a larger monetary zone can foster greater trade integration and improved resource allocation.

It could enhance the country’s “flexibility” in dealing with external partners.

By joining a new monetary union, these three countries could also benefit significantly from increased trade integration, independence from external partners, lower transaction costs and investor attractiveness.

Nevertheless, this initiative also entails risks, particularly with regard to their position within the West African Economic and Monetary Union and Ecowas. The latter could perceive the creation of a new currency as a threat to their regional influence. It could cause the fragmentation of existing economic blocs. In addition, the departure of the three countries could weaken the solidity of the West African Economic and Monetary Union and Ecowas in terms of economic and political influence.

There are also risks that the currency could quickly lose value.

The new currency could depreciate against the CFA franc. This could have substantial negative repercussions for exporters to other West African Economic and Monetary Union countries.

Second, without proper formal frameworks to control and manage the new currency, speculation and uncertainty regarding its value may emerge. This is why establishing robust institutions to support the management and supervision of the new currency is crucial.

How will the new currency affect trade in the zone?

The creation of a new currency by these three nations could, temporarily, have a negative impact on their trade with countries within the current bloc. It could even lead to some turbulence in trade with countries outside it.

The transition to a new currency typically introduces a level of uncertainty among economic actors and trading partners, as questions arise about the currency’s value, convertibility and stability. This adjustment phase can lead to a temporary slowdown in trade.

In addition, the introduction of a new currency often requires legislative and regulatory changes, especially regarding foreign exchange operations and customs duties. These can act as administrative and regulatory barriers and result in delays in commercial transactions.

During the transitional period, there may be fluctuations in exchange rates. This will lead to disparities between the old and new currencies. It can affect price competitiveness between exporters and importers and reduce the overall volume of trade.

The perceptions and attitudes of external partners matter when a new currency is announced. Some trading partners may exhibit reluctance or express doubts regarding its reliability and credibility. This could diminish their willingness to continue trading with member countries of the zone.

Could the move isolate them?

The creation of a new currency by these three countries may indeed raise questions about their potential isolation. However, such an initiative should not automatically lead to a diplomatic rupture or total marginalisation.

To avoid this, proactive communication, constructive cooperation and balanced, inclusive regional economic integration are key. This will help mitigate the risks of isolation for Burkina Faso, Mali and Niger in their monetary project.

Burkina Faso, Mali and Niger hint at a new west African currency: what it’ll take for it to succeed

On 11 February 2024, the head of Niger’s ruling military junta, General Abdourahmane Tiani, spoke of the possible creation of a common currency with Burkina Faso and Mali. “The currency is a first step toward breaking free from the legacy of colonisation,” he said on national TV, referring to the CFA franc inherited from French colonisation.

Burkina Faso, Niger and Mali, three former French colonies, have experienced military coups in recent years. They’re now all ruled by military regimes. They also formed a new defence alliance, known as the Alliance of Sahel States (AES).

The Economic Community of West African States (Ecowas) has condemned these coups and imposed sanctions on the countries involved. In response, these countries decided to withdraw from Ecowas. However, they remain members of the West African Economic and Monetary Union (Uemoa). Uemoa has a common currency, the CFA franc, which is issued by the Central Bank of West African States (BCEAO).

The BCEAO and the Banque de France are bound by cooperation agreements that include the deposit of a portion of foreign exchange reserves at the Banque de France and France guaranteeing the CFA franc.


Thierno Thioune, an expert on monetary policies and unions between west African states, analyses the potential implications and feasibility of launching a new currency for the AES member countries.

What conditions must be met for a multilateral currency to work?

To successfully launch and maintain a multilateral currency, several key factors must be considered.

First, macroeconomic and budgetary policies must be closely coordinated. Rigorous harmonisation of economic and budgetary policies between participating countries is imperative to guarantee the stability of the currency’s value and prevent trade imbalances. This will help maintain the confidence of economic players and promote regional growth.

Second, robust monetary management institutions must be established. Strong institutions responsible for currency management, like a common central bank, are essential. This central bank must have adequate authority to implement an independent and stable monetary policy. This will ensure the preservation of the currency’s value and address cyclical fluctuations.

Third, creating an integrated common market is vital. The unrestricted flow of goods, services, capital and labour is key to driving economic growth and enhancing regional cooperation. The current framework provided by the West African Economic and Monetary Union offers a significant advantage in this regard.

Finally, mechanisms to monitor and resolve crises need to be established. For instance, common reserve funds and currency swap arrangements could help address external and internal shocks that may affect the new currency. Currency swaps – when two parties exchange amounts in two different currencies for a certain period at a fixed rate – can be used to manage exchange rate risks and facilitate cross-border financing.

Are these conditions met in Burkina Faso, Niger and Mali?

It’s difficult to say whether these conditions have been fully met in the three countries. It would mean having a firm understanding of whether these, among other, conditions have been met:

Barrywilly:
Very usel@ss and lazy policemen. They are very good at giving lame excuses. The robbers operated in Anyigba for several hours unchallenged by the police only for them to surface after the robbers had left successfully and begin to shoot unharmed civilians.

seunmsg:
She should go to Agulu to collect appointment. Nothing for her and no this government. Voting a loser and posting it on social media has consequences.

The Chief of Staff to Kogi State Governor, Alli Bello, and one Daudu Suleiman were on Thursday re-arraigned by the Economic and Financial Crimes Commission at the Federal High Court in Abuja for allegedly misappropriating N84bnn.

The anti-graft agency had on December 15, 2022, arraigned Bello who is also a nephew of former Kogi State Governor, Yahaya Bello, and Suleiman, on 10 counts of alleged misappropriation and money laundering.

The EFCC accused Bello, alongside Hudu, a cashier at the Kogi State Government House who is at large, of withdrawing N10 billion from the state’s treasury for personal use.

In the amended charges, the EFCC increased the counts to 17 and bordered on Money laundering, breach of trust, and misappropriation of fund
to the tune of N84bn.

The name of the immediate past governor of the state, Bello was mentioned in one of the counts and was said to be at large.

Count one of the charges read, “That you, Ali Bello, Dauda Suleiman, Yahaya Adoza Bello (still at large) and Abdulsalam Hudu (still at large), sometime in September 2015 in Abuja, within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of N80bn which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: criminal breach of trust and you thereby committed an offence contrary to Section 18(b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.”

The EFCC also accused Alli Bello and Dauda Suleman of concealing several millions of naira with one Rabiu Musa Tafada, a Bureau De Change operator trading under Global Venture in Abuja.

The defendants pleaded not guilty when the charges were read to them.

The trial judge, Justice James Omotoso ordered that Alli Bello and Suleman should continue to enjoy the bail conditions granted them in the previous charges.

The matter was subsequently adjourned til March 20 and March 21 for trial continuation.

A 22-year-old lady, Fasia Ajoke, was on Thursday sentenced to seven months and three weeks in prison by the Special Offences Court at Bolade-Oshodi for assaulting a Lagos State Environmental Sanitation Corps female officer while on duty.

The state Commissioner for the Environment and Water Resources, Tokunbo Wahab, disclosed this in a post on his X handle on Thursday.

Wahab said Ajoke was also guilty of resisting arrest and refusing to use the pedestrian bridge.

His post read, “The Special Offences Court at Bolade-Oshodi today convicted a lady, 22-year-old Fasia Ajoke to seven months and three weeks in jail for assaulting a female operative of the Lagos State Environmental Sanitation Corps (KAI) #LAGESCOfficial on lawful duty, resisting lawful arrest and refusing to make use of the Ile-Epo pedestrian bridge, thereby endangering her life in the process.

“She was arraigned before Chief Magistrate S.A Adefioye of the Lagos State Special Offences (Mobile Court), Bolade-Oshodi on offences bordering on conducting herself in a manner likely to breach peace, obstruction and breach of peace by crossing the highway.”

The commissioner urged residents to desist from assaulting environmental officers and to prioritise using pedestrian bridges.

He wrote, “We enjoin every well-meaning Lagosians to desist from assaulting our environmental officers and also make use of the pedestrian bridges as the state will not hesitate to prosecute anyone found breaking the law.”

The PUNCH reported on Tuesday that the Lagos State Government arrested seven miscreants for allegedly assaulting environmental officials during the removal of shanties and illegal structures along the Jakande Estate in the state.

It had also reported in February that the government described the crossing of major highways in the state by pedestrians as an offence adding that any defaulter caught will be prosecuted.

EreluRoz:
How this Burnaboy still maintain decency and discipline with women despite his rough lifestyle still amaze me while some of his fellow artists are busy spreading their seeds recklessly everywhere.