₦airaland Forum

jedisco:
A while ago, Nigeria went borrowing via eurobonds issued between 6-9%...while this was expectedly oversubscribed, and some reasoned that this showed confidence in the market, I can't help but wonder why the rates are that high... The holders of this monies borrowed would have been forced to pay interest to banks if it sat idle in their home nations

Today, over 20% of all dollars in circulation was printed over the last 2 years and more is set to be printed out of thin air. The system is aflush with funds looking for who to lend it to... I remember stating a while back that they US and EU can afford to do that vos they know smaller nations will come begging. Already, that is happening.... Wouldn't be surprised that if the FG may need to organise free crude swaps in future to pay off these debts....

I cannot understand how an individual in the west will walk up to his bank, borrow hundreds of thousands of forex at rates well below 3% to buy a house appreciating at upto 10% per annum, yet a sovereign nation is happy to borrow such forex at 8%. Nigeria is practically giving Western lenders free cash..

This is the way I see the macro picture- an American sits in his house, prints paper outta thin air, a Nigerian goes cap in hand begging for such paper money at the expense of his natural resources and his fellow citizens are happy at being afforded such paper at cutthroat rates

Is it that the monetary system is rigged against poorer nations or poorer nations don't just understand it??

I will say the monetary system is riigged against the poorer nations. US will do QE by printing dollars and distribute to their citizens as welfare to buy consumption and luxury items but when we print our own Naira, there will be an uproar. We cannot even print our own Naira to pay pensioners. We are expected to sell in USD and then convert to Naira before paying pensioners.

emmanuelewumi:
I think Nigerian bank officers should also be educated on Asset Backed loans.

A 59 year old man was denied a loan by his bank because of his age and he his employment status ie retired. He was retired 4 years ago, built 2 houses for rental income and had over N30 million in FG bonds and Blue Chip stocks, but was denied a loan of just N5 million to plots of land and he was considering selling his bonds and shares to finance the purchase.

I told him to talk to his Stockbrokers, which he did and was directed to subsidiary. He got his loan approved within 48 hours and was able to pay back in less than 6 months

How many of our bankers are really well trained?. Most of them did not really go through the rudiments of banking.

Solomoncares:
*SOLOMONCARES NEWS UPDATE*

Need assistance on Getting the University of first choice and the Nations pride (UNILAG) Forthcoming Post Utme Form within 3Min both Online and Our Location ?
Then contact Solomoncares on
Https:///2348026098704

Do you have past questions of Uniben Post UTME?.

ojesymsym:
Baba, e b like say u go on sabbatical b4?

I dey kampe. I dey read every every.

Page 2000. Make i mark space for here before it goes to page 2001.

Tobex4realTobex234:
Who is game

Iam more than game.

DrEmmy01:
Uniport has already made a statement about the waec candidates....a new date will be given to them for their postutme.they didn't just remove students just because they are writing waec.

Thanks for the clarification.

Damscodammy1:
yes majority of dem are mergin 2 set together.
am even in a situation nw sef.my schl hv been pasting result of sum dep.my dep no gree paste result.tokles of me to start result clearance.4 my d.e stuff.schls hv start sales of putme nw.
my dep ehn.i hope dy paste it 4 me to aply o

If they are merging and they fixing the putme exam on days that WAEC students have papers, it means they have tactically weed out those students.

Damscodammy1:
Unizik post utme form is out now

Why are some Universities releasing post utme forms when students are still writing WAEC?. What if the date of the post utme exam clashes with that of WAEC, what happens and what also happens to students in boarding schools that are far from the University?. I was shocked to see that of Uniport fixed around 20th of September. Why the hurry?. Are they planning to resume the 2021/2022 academic session in October or Novembet?.

gbadexy:
High chief NL1960. You are sighted and highly appreciated sir.
It's been a while you visited us here.

I still visit. I now read in a quiet mode. Will try to resume commenting before Oga Hajji fine me one bottle of non alcoholic Hennessy.

Xandre:
A very big chance He's got.

Albeit he shouldn't be complacent in the post Utme.
Congratulations to him in advance.

Thanks. Will pass the message to him so that he can start reading for the PUTME once he concludes his WAEC.

Xandre:
290+ for Medicine in UNIBEN isn't a very bad one.

It falls under what I call 'a fighting score'.
If you can fully hit your post Utme hard, then you'll be fine.
Your chances will increase if you're from any of the catchment states or elds.
Just do well any score from 78upwards will put you in a very fine stead.

I know of somebody with 289 for Mechanical Engineering for Uniben and from catchment area?. What are your thoughts on this so that i can pass the information to the person.

PresidentBuhari:
As much as never say never, I would say such situation whereby a Taliban occupies the government is not possible in the UK, USA, Germany, Russia and China. They can only hold people hostage on these soils for a maximum of 72 hours and the bullets and ammunition that will be used to clear them will be one of its kind.

That was how they said nobody can invade the Capitol Hill.

PresidentBuhari:
A sober reflection with respect to what is happening in Afghanistan

Afghanistan is in crisis and most likely a new government will be formed. The instability will go on for a long time, the government to be likely formed by the Talibans determines everything concerning the country.

Now imagine all the domestic and foreign loans taken by the previous Afghan govt, it is most likely a default in repayments will occur, investors are leaving, foreigners are leaving, the currency is sharply losing value.

Now talk of the devil, Nigeria. If such happens in Nigeria, the same fate will befall the investors in bonds, Treasury bills, foreign loans. The value of assets will nosedive, as you invest locally it is unfortunate the need to diversify outside the shores of the country is necessary.

And you think such a situation can only befall Nigeria and not US, UK, Germany, China, Russia?.

Uyi168:
..
If you are in benin, there are lots of shops around where you can get the hard copies.

Thanks. Iam in Lagos. I can get somebody in Benin to get for me if you give me the location of the shops. I heard that there are many fakes out there. The person stays at Sapele road.

MrEgghead:
The general cut off is 200, which means you're more than qualified to write POST UTME. It's your total aggregate from the combination of your JAMB and POST UTME scores that will determine whether you'll get Law or not. Don't change anything, you are on the right track. Just go and read for Post UTME exam.

Please iam looking for Uniben PUTME past questions. Any idea where i can get it?.

Abetterperson:
Good morning everyone

This year has been a thorn in everyones flesh and just like everyone else I'm also tired of it.
I put uniben as my first choice in jamb hopely to study law but my jamb score is too law. I score 268 and the university cut of Mark is 270. At first I thought it didn't matter until I got to know that it matters a lot. I want to buy change of school form to fill in delus but I'm being told that they will not accept my request to study in their institution,that they will see it as if am picking them as second choice.
Please is it true

Who told you that the cut-off mark is 270?. Uniben does PUTME. JAMB is yet to come out with general cut-off mark and Uniben is yet to conduct PUTME. In addition, the mark you are posting is not what Uniben use for admission. Uniben cut-off for admission is based on 100% and it is derive from JAMB score and PUTME score.

With the general low score this year, 268 is a good score.

skydiver01:
The beauty of compounding... Happy Days Next stop Jan 2022

What's happening in Jan 2022?.

yazga:
No

I also know. That is why some of these things should be rightly qualified and that is why sometimes i do not pay attention to them. Life does not start and end in expensive cities.

yazga:
How Ready are you for retirement

At 30, you should have your annual salary saved for retirement
At 40, you should have 3X your annual salary
At 50, you should have 5X your annual salary
At 60, you should have 7X your annual salary

Where are you based on this recommendation?

If i intend to retire to my village at 60, do i need 7x my annual salary for retirement?.

Ohyinyeah:
Bank Boys will make cool cash

Not that easy if CBN is really serious about catching fraudulent applicants.

XiaoLi:
For those of you that is looking for investment that will give ROI of 30% in 3 months.


https://www.thisdaylive.com/index.php/2021/07/28/investor-commits-suicide-as-2000-nigerians-fall-victim-to-suspected-ponzi-scheme/

Na today, Even with this, people still fall victims to another one.

bjtinz:
Yeah I listened to analysis by Bismarck on channels yesterday and he was fully in support. CBN says it issues millions of $$ weekly but critical sectors that need it can't access it. Apparently most goes to illegal activities and money laundering.

I know somebody in the airline industry who has been lamenting their inability to get FX to pay for parts. Th CBN allocates the FX to BDCs and the BDCs now sell to them at N515.

NewSoul:
OAU- maybe not
Unilag- maybe not
Uniben- Yes definitely

Uniben that a dude with 292 got in last time with 88 p utme score another 291 86 p utme score. Our own MrEgghead here got in with 296 and 81 p utme score. In UNN person with 288 and 290 in putme still got in based on catchment. Why do you want to make it sound like only 300+ get admission to study medicine in Big schools. Is UNICAL a big school compared to the aforementioned schools? No!
A school you will equate UNICAL to is uniport and many 280+ gained admission. I chose UNICAL to increase my chances of admission actually not knowing I was actually avoiding fry pan and heading straight into fire.

A putme score of 79 in uniben would give me an aggregate of 77 which will definitely get me in. EVen the UNILAG, OAU and UI you can't tell its all the admitted student that got 300+ that's a fallacy. They might not be many but you'll definitely see students with scores between 290-299 for sure

You are making it sound like only those 300+ are the only ones that deserve to study medicine. Anyone below 300+ should go study botany

You score 300 and 80 in utme and post utme respectively and I scored 299 and 81, do you know my aggregate is higher than yours? drop that mindset jarey

Sorry to deviate from the topic as i saw the mention of Uniben. How do i get Uniben putme past question papers or what is the makeup of it?. I have somebody that will be writing putme later based on the recent released JAMB. He is going for Mechanical Engineering. He is from Edo state.

Akin3891:
https://www.nairaland.com/6672005/cbn-supply-forex-banks-only

I foresee more economy woes for Nigeria, dollar scarcity is looming.

Dollar scarcity looming for genuine users or for speculators and round trippers?. I know of somebody who works in the airline industry that said that they have not been able to service their foreign FX commitments because of lack of dollars. Everybody is now rushing to go and open a BDC because of cheap and free dollars while manufacturers groan and unable to bring in raw materials.

emmanuelewumi:
So you can't say workers are not well paid, most Nigerians are poor and can't afford to pay for premium services, therefore the workers will be poorly paid.

Most small business owners who render services allocate between 40% to 60% of their revenue to salaries and staff costs, 10% to 20% to rents, 10% to 20% to servings of debts or loan repayment, 10% to 15% to taxes, levies, dues, etc, 10% for depreciation and provision for asset replacement, about 5% to 15% of the revenue will be profit to the business owners

This is quite true. This also affects paying of rent by tenants. I have seen secondary schools where termly fees is between 20k-30k and even there are always defaults. The students have to be sent home when exams are coming. Sometimes parents do not prioritize education of their kids. A parent claiming no money to pay school fees will be buying an aso-ebi for wedding or burial for 10k.

emmanuelewumi:
Most are cheap ie 150k and below per annum, payment is determined by revenue and allocating about 40% to 50% of the revenue to staff cost.

The man has almost 2000 students in his schools at an average fee 800k per annum

Now you are talking.

The teachers in my kids primary school are paid well and most of them have been there for close to 20 years. The school is not cheap. The owner has a primary school, a secondary school and a University.

emmanuelewumi:
Haba, who told you that?

People who are poorly paid won't spend 25 years working in a place.

The Admistrator of the schools has a PhD in Management.

House ownership scheme, pension benefits, tuition free for teachers children, overseas training for workers.

Also know that the founder took a lot of risks, getting loans running into billions of Naira.

We should learn to respect successful business people oooo, if it is that easy you can easily start yours and teach us how it should be done

All these information you are giving now were not given earlier. Most private schools do not pay well. You always see private school teachers complain of low pay and being overworked.

afroxyz:
I still blame parents. When your child is young introduce him to the family business. Even when he goes to school let him know that the skills would be applied to the business.

For example if you are a spare parts dealer, you can encourage your child to read mechanical engineering. The education plus street smart from apprenticeship would push the biz to another level. Even the Mafia and Mobsters train their children to be lawyers, accountants etc so that they can apply their education to the business.

Donald Trump built the Trump tower in his ealry 30s. He learnt the biz from his father

My daughter has a classmate in school who opted for commercial which was a surprise to most of them. When she was asked why, she told them that she wants to go and study a buiness or commercial course so that she can takeover the father's business. She said she normally follows the father to the business during the holidays to understudy him.

emmanuelewumi:
You know what, don't be surprised if it was the business that was paying his bills in the UK.

When his father died, the business suffered and could not pay his bills again, so he decided to come and manage it himself.

I have relatives in Nigeria that are sending annual grants of up to $30,000 from their family business to each of their children in the US, the family business also pays the school fees of their grandchildren, assists with mortgage payments etc. The parents are now in their 80s, let us hope the workers will be faithful by the time the founders are gone. If not the children might be forced to sell the business to the workers and management at giveaway prices.

You mean $30,000 to their grown up children or children schooling there. I thought people there always say that money can be made left, right and centre. Is it that those children are lazy?.

emmanuelewumi:
Another young guy has a father who has group of primary and secondary schools in Lagos, generating billions of Naira every year, old man also has a University that is approved by NUC.

He has been invited to come over on several occasions but always turning down the offer, whereas it is this businesses that is paying his bills in the UK.

Menwhile the teachers in those schools will be poorly paid while the guy will be balling in the UK with money generated from those schools.

seunpinky:
He didn't even have d adequate papers to stay back... He was in the UK for several years after his b.sc and m.sc but still couldn't get legal papers ( citizenship)

So it was when he tried unsuccessfully for several years to get his papers in the UK that he then remembered his late Father's business in Nigeria. No wonder he failed in the business too.