₦airaland Forum

ipobarecriminals:
somebody should tell that local bingo to tell Jonah,shepos and the rest of THIEVES to return our money

No need singling out GEJ, OBJ regime looting was much.

Mynd44:
All hail shairman Sheriff

When you see APC members jubilations at Sheriff's APC victory.

Just know something is wrong

Tritri:
You sure it wount be too late by then? I think am not the only on in the position...

@Angelos why u dey laugh? U wan start?

If you want to buy no problem.

Just check the chart from 13th till date

Tritri:
@Intendy
DeRuggedProf
locodemy
fxuser
OBAGADAFFI

I ALREADY HAVE ZENITH . I got some 3M from my brother.do U tink i shd buy more zenith in anticipation for price yield.

What ur thought on this decision am about to take ?

(Am a little bit worried zenith has been on the 15 naira for a while ) .

Just hold and wait for result

Intendy:
stocks with new 52 week lows

custodian and allied #3.24k

diamond bank #0.82k

stocks with new 52 week highs

ucap #3.82k

Jaiz bank #1.39k

Presco #47.01k

Thanks

See Presco i JO on last week hitting new 52 week highs.

Some Bears can be deceiving

Omudia11:
Firstly, You are in no position to question what our governors do with our own wealth. Your own governors who depend on our oil revenue, what have they done for you?

The northern elite control over 70% of the oil blocs in the south...how has it bettered the lives of your northern almajiris?


Do you know how the south would have been if not for the parasitic north sharing in its wealth while contributing ZERO?

per the bolded, don't you hear everyday stories of how Fulani herdsmen raid and kill people in Enugu, Delta ??

Dude you really wanna talk about education? For every southerner that fails any course or subject in school, 10,000 fail in the north. What states have the highest pass rates in WAEC/NECO in Nigeria? Obviously southern states.

Why does the north oppose True Federalism? Why does the north oppose secession? It is visible to the blind and audible to the deaf that the north is the problem of Nigeria.

Rightly said.

basty:
Oil from the Niger Delta is a curse.

Before the discovery of crude oil, Other regions were feeding the Niger Delta and now they want to die.

Thank God oil is no longer selling, we will see what will befall them later.

Niger Delta is one of the largest producer of Palm oil in Nigeria

Goke7:
can't you see that Fayose actually deceived you guys, have you seen the reply from his media aide?

Whats my business with the media aid.


Did the FG release ekity January statutory state allocation-YES/NO

DrLuv:
u still don't get it...the statutory state allocation has been released but the budget support fund is still pending.
Fayose is just capitalizing on your likes that believes comedians like him to score cheap propaganda.the state allocation has been used by fayose to pay part of august salaries for some ministries and his own security vote.June and July pension is still pending

Goke7:
Its obvious you never read the story even when it broke few days back. It was clearly stated that it was the budget support facility. No wonder you guys even believed fayose when he said he was speaking with Chinese investors when he was actually in a train station. Na wa o!

kITATITA:
Please read before making further comments. Both Ministry of Finance and Fayose called it Budget Support Facility and at no time did Fayose call it monthly allocation.

No need for unnnessary name calling.

What Fayose complained about, is the January the statutory state allocation and Budget Support Facility.

The ministry of finance should simply clarify the the January statutory Federal Allocation has being paid.


The Ekiti State Governor, Ayodele Fayose, has accused the Federal Government of directing the Federal Ministry of Finance to withhold the January Federal Allocation and the Budget Support Fund due to Ekiti State.

http://punchng.com/fg-withholding-ekiti-allocations-frustrate-projects-fayose/

OkoYiboz:
You should learn to read and understand before commenting.

Goke7:
The headline that started this story few days ago is what has confused you guys. It also shows our poor reading culture as Nigerians. This is not the normally federal monthly allocation but a facility or loan given to governors with stipulated conditions.

Fayose only used the opportunity for his normal propaganda and comedy skit.

rusher14:
Because you can write I believe you can read.

It is clearly written the only withheld funds are the conditional bailout loans given by the federal government.

Ekiti's statutory allocation has been paid.

Then let the ministry of finance us evidence of the payments

What Fayose demanded for is monthly statutory allocation.

city and guilds is acceptable by most organizations in Nigeria.

That press conference was too brutal on CNN.

Is the monthly statutory allocation a loan?

The monthly statutory allocation is a constitutional requirement.

Remember Tinubu (AD) vs OBJ(PDP) monthly allocation battle.

megainvest:
Congratulations team UCAP. On to the next one...

Thanks Oga,

FCMB, ZENITH,GTB, Loading.

I hope WAPCO will drop something big.

You will soon see prophets of stockmagaddon rushing to buy this stocks after this news

P Z CUSSONS finally bottom-out.

For those of us who entered @ N11.23 , may the road to profit be smooth.

The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), has said there are corruption allegations in the Central Bank of Nigeria’s foreign exchange allocation and transactions.

Malami added, on Wednesday, the fraud allegations were “supported by several documents.”

The PUNCH sighted a subtle query issued by Malami to the Governor of CBN, Mr. Godwin Emefiele, demanding “prompt response” to the allegations.

Malami’s letter, dated February 6, 2017, and with reference number, HAGF/CBN/2017/VOL.1/1, was sighted with an official, close to the legal unit of the apex bank.

The letter, in polite terms and without giving any ultimatum, asked Emefiele to respond to the allegations “to enable us to advise the Presidency and take appropriate measures.”

Titled ‘allegations of racketeering in the Central Bank of Nigeria; disparity in allocation of foreign exchange’, and addressed to Emefiele, the letter was delivered to the CBN governor’s office on Monday.

The minister, in the letter, said he became aware of the corruption allegations through several petitions.

Four major allegations contained in Malami’s letter to Emefiele include alleged corruption in the apex bank’s “foreign exchange allocation transactions.”

The second is “questionable policy” in the apex bank’s allocation and sale of foreign currency to Nigerians.

The third is the issue of “arbitrary allotment of different exchange rates for same purposes” by the CBN.

The last is allocation of conflicting foreign exchange rates by the CBN.

The letter partly read, “Some of these petitions have been supported by several documents allegedly showing that the central bank has implemented a questionable policy in its allocation and sale of foreign currency to Nigerians.

“It is further alleged that this arbitrary allotment of different exchange rates for same purposes at the same time is being pursued as policy by the Central Bank of Nigeria. See attached documents from Leadershipng publication.

“Also attached is a report of the October 2016, allocation of conflicting foreign exchange rates by the central bank.

“In view of these allegations of corruption and arbitrary allocations of foreign exchange to a certain class of persons, you are kindly requested to comment on these allegations to enable us to advise the Presidency and take appropriate measures as may be dictated by the circumstances of the case.”

Media reports, relying on the document tiled ‘Bank utilisation report on 60:40 rule for October 2016’, which was attached to Malami’s letter sent to the CBN governor, had raised allegations of corruption and the implementation of questionable foreign exchange allocation policy.

In October 2016, alone, as revealed by the document, no pattern or template could be deciphered to have been used in calculating the exchange rates.

The criteria used in selecting the firms or sectors for which certain volume of foreign exchange was allocated and at what rate could not be pinned to any template.

The 1,312-page document revealed the names of various customers, their corresponding addresses, form numbers, amount allocated to them (in United States dollars), the items or purposes, the sector and the banks used for the month of October alone.

[b]It shows how some companies and individuals got foreign exchange in US dollars at the rates as low as low as N0.61 to $1 while others got it in rates that were as high as N470 to $1.

For instance, an individual got $4,327 at the rate of N23.34 to $1 through “credit card payment” for “invisible” purpose and under “invisible sector”.

A bank also got $3,589.11 at the rate of N3.19 to $1 also for “invisible” purposes and under “invisible” sector.

There was a transaction involving sale of $66.72 at the rate of N0.62 to $1.

There was also a sale of $5.56 to a company at the rate of N0.61 also for “invisible” purposes.

A particular transaction also involved the sale of $570.8 at the rate N3.17.

In contrast, there was a company, who purchased $1,462,480.83 at the rate of N425 to $1.

The document shows that individuals and companies got foreign exchange for purposes ranging from importation, PTA, school fees, “invisible”, family maintenance allowances, mortgage payments and medical travel among others.
[/b]
But the CBN had debunked the allegations in a publication posted on its website on January 30, 2017.

The publication titled ‘CBN clarifies alleged wrong FOREX purchase figures’, was signed by the apex bank’s Acting Director, Corporate Communications, Mr. Isaac Okorafor.

The bank stated that it neither allocated foreign exchange nor did it deal directly with bank customers.

Insisting that its forex policy was transparent, the apex bank also said it was not responsible for fixing FOREX rates for transactions by individuals or companies.

The statement read, “Following media reports alleging irregularities in the rates at which foreign exchange was obtained by some individuals and companies from different Deposit Money Banks under the new [60:40] Foreign Exchange Policy by the Central Bank of Nigeria, which prioritises FOREX sales to manufacturers, agriculture, plant and machinery, critical raw materials, among others, we wish to make the following clarifications:

“The Central Bank of Nigeria neither allocates foreign exchange nor does it deal directly with bank customers;

“The CBN does not fix FOREX rates for transactions by individuals or companies.

“In line with our principle of transparency, we directed DMBs to forward to us evidence of FOREX sale to end users and to advertise same in national dailies.

“Since the introduction of the new FOREX Policy in 2016, we have published, monthly, the evidence of sale from DMBs, as received from the banks and without any alteration by us in the spirit of transparency.

“We have recently observed, however, that some DMBs forwarded inaccurate data, which were erroneously published and gave a wrong impression of disparate rates;

“The DMBs involved in providing inaccurate data have since been issued queries accordingly. Some have returned a response, indicating that some of the figures were related to formatting errors, which do not affect the true rates of the affected transactions.

“As the constitutionally authorised industry regulator, mandated to manage the FOREX market, maintain external reserves and to safeguard the international value of the legal tender currency, we wish to state unequivocally that the CBN has a duty to perform and would not indulge in acts capable of discrediting the FOREX market.

“We therefore wish to reiterate that the sale of FOREX under the new policy is most transparent and it is not intended to benefit any individual or corporate body in anyway.”


http://punchng.com/agf-malami-queries-emefiele-alleged-forex-fraud-cbn/

rebekah2011:
http://www.businessdayonline.com/seven-energy-earns-fitch-ratings-upgrade-junk-status-clings/. What is the implication of this for Ecobank, FCMB and Union Bank

Bad loans loading.


The same way Oando eat into FBN.

Nigerians don't really know how Chinese manufacturer operate.

Any Nigeria entrepreneur can go to Transsion Group or other Chinese manufacturer, and demand and phone and tables be manufactured in with any name you want.

Jumia did the same thing with Innjoo.

How come Techno is only operating in Nigeria.

obailala:
That was long after election... After he had won and settled in, and then he decided to respond to noisy rants of the losers.

LOL,

That case was in courts during the elections.

But if you feel the President got no Obligation to talk to his people so be it, nobody should complain if another set of politicians do same.

Offshore east in Kaduna.

obailala:
He did exactly the same when jonathanians were busy asking for 'buhari certificate' instead of campaigning for Jonathan.

No he got lawyers and went to court .

obailala:
Lol... he is not going to call anyone oooooo!! If I were him, I would make sure I never call because the people who keep wailing over this call (as if their lives depend on it) are actually the people who wish buhari was dead. The real motive behind the desperate requests for the president to speak to Nigerians is just so as to know/confirm when to start the wild jubilations and street parties.

Like I said before, if I were oga president, I would totally press the ignore button; there is a capable Ag. President who is doing very well in the absence of his boss. If you have any urgent issues, go to him.

He should have pushed the same Ignore button during the campaigns.

[quote author=PoisonedOne post=53713495]Slot is not the owner of Tecno and infinix. The owner of tecno owns infinix too; it was initially owned by Zenco, but now they are owned by the guy that owns zinox computers, he is the same man that owns youdala stores and plenty other companies in Naija. He is from Imo state. [/quote

]

http://technologytimes.ng/leo-stan-ekeh-i-do-not-own-yudala/

He, however, assured that the federal government was putting measures in place to ensure that the diversion of foreign currencies from the National Treasury through corruption, and the vandalization of pipeline facilities that reduce the amount of Dollars accruable to the federal government is brought to end,

So all this is still happening in this Government.

NuttyChoky:
Abeg who are the registrars for WAPCO?

CARDINAL SECURITIES LIMITED
385 HERBERT MACAULAY WAY SABO YABA LAGOS

DeRuggedProf:
DIVIDEND YIELD is important in this season.
A stock like WAPCO paying even the same N3.00 and selling at N42 may not match ZENITH.

You forgot WAPCO price appreciation moves at Jet speed.

If WAPCO drop N3 this year you wont get the stock @ N50.

Remember Conoil drama last year, people cannot buy after dividend was declared.

DeRuggedProf:
Dividend yield will be very small.

I thank God they are paying dividend.


DISCL: I am NOT here.

They paid 300 kobo and 1 for 10 bonus last-year

Lets see what will happen this year.

Intendy:
Good afternoon house,I'm sorry for going AWOL o.this was just a move beyond my control.
I appreciate u all for your concerns,via email and calls and on the forum here.
What a nice family you people are.
I'm creeping back gradually. Thanks once again.

Welcome back.

We need our daily injection(new Lows and new Highs)