₦airaland Forum

See Wetin Poor Economy Don Cause For Here

Sirchiboy:
.
Help me with 100k to startup a business

Can't you understand, Nairaland forum, don block my name from comment section ooooo

Kukutente23:
Why
What did you do?

Nothing ooooo

Just That, I Publish BAD NEWS, That's Why You can no longer mention that name NAIJA-COVER again on Nairaland forum oooooo

Money Is Really Good

obembet:
I hope Nairalander can take number 12 more serious than others

Hmmmmmmm

Giftedhand47:
I wont stop until that guy changes


He must change.... Whenever i see his scam story i must let people know.... Very unrepentant scammer with same old format

Youre mates are doing yahoo
Youre busy lying that you and your daughter haven't eaten for days...

That guy no even Sabi scam

I Understand ooooo

No Be Small Thing ooooo

Mr Nlfpmod Mynd44 Seun

Hmmmmmm

NoSmoking:
😳

That's The Truth, Brother

So many people are Envying Me, Because I'm The King Of BAD NEWS PUBLICATION In Nigeria, that's why, they reported NAIJA-COVER as a name, so that, it will not appear on Nairaland

Inukwa ooooo

No Be Small Thing ooooo

NoSmoking:
Passport photographs or passports?


Cc

👤

Nairaland Don Ban My Name ooooo

Meaning that, you can no longer mention my name on Nairaland forum

Wow

Hmmmmmm

Antoeni:
How To Strengthen The Naira With Cassava, Garri & And Agbado

Hmmmmmm

NoSmoking:
Hmmmmm


Their papa dey on Nairaland dey swear with thunder carelessly

🥴🤕

See More Bad News @ www.naija:cover. com

Which One Be Thunder Storm In Awka Again?

Don't Forget, N.C Bring This Terrible Bad News

Three Male Students of a private secondary school (name withheld) in Okpuno, Awka South Local Government Area of Anambra State, have died while playing football on the school field.

It was Gathered that the incident happened late Saturday durinh rainfall which was accompanied by breeze and thunderstorms.

According to eyewitness, the students were practising on the school’s pitch in preparation for a football competition before the lightning started.

The eyewitness said about nine students were involved while six of them were rescucitated later at the school’s clinic where they were first rushed to.

The source said, “The boys were practising on the football pitch with their coach in preparaton for a football tournament.

“The coach had ended the practice session before the rains started, but some of the students stayed behind to continue playing football.

“Lightning, accompanied by claps of thunderstorms suddenly enveloped the area and the boys were struck in the process”

Witness reports added that “a teacher heard the students screaming and running. He ran to the field and saw at least nine students trembling and jerking on the turf.

“That was when he raised the alarm and people gathered to help. The boys were immediately rushed to the school clinic, from where they were taken to hospital in Awka.

“Six of the nine boys were resuscitated and are currently receiving treatment, but three did not survive. Their parents have been contacted.”

A resident, identified as Hope Egwu, told journalists that the news of the accident went round the community on Sunday before it was made public, adding that everyone had been held spellbound.

At the hospital in Awka, parents and sympathisers trooped into the ward where the survivors were receiving treatment.

When interrogated, a doctor at the hospital, who craved anonymity, said three out of the nine boys were brought into the hospital dead, but six others were revived.

“As of now, parents of two of the dead boys have taken the corpses away, while one is still in the mortuary.

“It is sad that they were playing on the field barefooted. If they had boots on, the impact of the lightning would probably have been minimised,’’ the doctor added.

When contacted on the telephone, the school principal, who picked his calls after several efforts, simply said, “I am not in the mood to explain anything or make a statement right now” and thereafter dropped the call.

The state’s police spokesman, DSP Tochukwu Ikenga, who was contacted, said the incident had not been reported to the police.

Source: https://punchng.com/thunderstorm-kills-three-anambra-pupils-on-football-field/

tsdarkside:
who cares....
they dont like it,they can fvck off to south africa....

See More Update @ www.naija'cover. com

Ayoswit:
They will transfer their aggression on their customer , sucking of data mood activated

I'm Very Much Happy, For Them, Loosing That Money, After What Those NETWORK Cause Me

Naija_Cover Is Just Observing MTN And AIRTEL

MTN Nigeria Communications Plc and Airtel Africa Plc have reported N479.11bn in foreign exchange losses following the June 2023 devaluation of the naira.

In its nine-month financial report for the year, MTN recorded a forex loss of N232.8bn on its net foreign currency liabilities following the devaluation of the naira from 461/$1 in December 2022 to 777/$1 in September 2023.

It noted that its forex loss in the corresponding period of 2022 was N27.9bn. The firm further highlighted that given the scarcity of forex in the market, it had to rely significantly on letters of credit for its capital expenditure needs.

It said, “Given the protracted forex paucity in the market, MTN Nigeria utilised trade lines to fund the establishment of confirmed irrevocable letters of credit for its network capex investments to sustain revenue growth.

“Our recognised forex loss for the nine months to September 2023 was 77 per cent higher than the amount reported in H1 2023, where we measured all the trade lines after offsetting the naira-denominated cash cover that was provided to the banks. Following further analysis and review, we have remeasured all our trade lines to correctly exclude the naira-denominated cash cover that was provided to the banks.”

For Airtel, it recorded an after-tax foreign exchange loss of $317m.

It highlighted, “Loss after tax was $13m driven largely by a foreign exchange loss of $471m recorded in finance cost before tax and $317m after tax because of the devaluation of the Nigerian naira in June 2023. This impact has been classified as an exceptional item.”

Airtel expects the impact of the naira’s devaluation to eventually cost it $900m-$950m in annualised revenue.

It added, “The exceptional item of $471m is on account of derivative and foreign exchange losses following the Nigerian naira devaluation in June 2023 (from 465 NGN/USD in May 2023 to 752 NGN/USD in Jun 2023). This has resulted in an exceptional tax gain of $154m. Tax exceptional items in the previous period benefited from the initial recognition of a deferred tax credit of $42m in Kenya.”

Like MTN, Airtel also had issues with accessing the dollar due to illiquidity.

The firm said, “In some markets, we face instances of limited supply of foreign currency within the local monetary system. This not only constrains our ability to fully benefit at group level from strong cash generation by those OpCos but also impacts our ability to make timely foreign currency payments to our international suppliers.”

FX scarcity has been a major challenge in Nigeria in recent times, leading to a significant depreciation of the local currency in the parallel market.

According to the World Bank, the Nigerian naira is one of the worst-performing currencies in the region, losing 40 per cent of its value since the start of 2023.

Commenting on the scarcity of dollars in the country, the global bank said, “However, resistance toward the increasing pressure on the Nigerian naira coupled with limited supply of FX at the official window has led to the reemergence of the parallel market premium.”

The telecoms industry relies heavily on forex for its operations because most of its equipment is imported.

Recently, the Chairman, Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, tasked the government to introduce a special forex market for the industry.

He made the call when telcos met with the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, recently.

He said, “Liaise with relevant stakeholders such as the CBN for the institution of intervention measures to support the telecommunications sector. Such interventions could include the introduction of a special forex window for the industry, set-up of long-term, low interest infrastructure funding schemes, etc.”

Source: https://punchng.com/mtn-airtel-lose-n479bn-to-currency-revaluation/

Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

NAIJA-COVER Is Here

No Be Small Thing ooooo

Hmmmmmm

JaneYave:
Life business is no joke. Events can change the scenery anytime.

See More Photos @ www.naija-cover . com