₦airaland Forum

This is a strange development which I don't think has come in at a good time. Somehow someway, the two main operators I use (Rhemito and Azimo) do not seem to be affected by this development.

Modified:

[size=14pt]Beware of unregistered money transfer operators - CBN[/size]

Abuja – The Central Bank of Nigeria (CBN), has advised Nigerians at home and in the Diaspora to beware of the activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria.

The advice is contained in a statement made available to newsmen by CBN’s Acting Director of Communication, Mr Isaac Okorafor on Abuja Tuesday in.

It stated that the warning became necessary because of the activities of some unregistered IMTOs, whose modes of operation are detrimental to the Nigerian economy.

“All financial services providers in Nigeria, just as in other jurisdictions, are required to be duly licensed in order to protect both customers and the financial system as well as to ensure the credibility of financial transactions.

“For the avoidance of doubt, all licensed International Money Transfer Operators, are required to remit foreign currency to their respective agent banks in Nigeria for disbursement in naira to the beneficiaries.

“The foreign currency proceeds are to be sold to Bureaux De Change operators, for onward retail to end users. The Central Bank of Nigeria will therefore not condone any attempt aimed at undermining the country’s foreign exchange regime. He advised the public to beware of the activities of such unregistered IMTOs to avoid being defrauded.

Read more at: http://www.vanguardngr.com/2016/08/beware-unregistered-money-transfer-operators-says-cbn/

Unregistered International Money Transfer Operators should simply go register with the CBN and follow simple forex guidelines; this shouldn't be a big deal but Nigerians just love illegality.

Holyman3:
Yes, because the foreign reserve is useless to the masses

Because you are ignorant of the use of forex reserves to the masses and how it affects your day to day life, that does not mean it is useless to the masses.

porka:
Is it that you are confused or you are deliberately lying? At one point you will refer to 16 years of the PDP, at another point your bitterness will make you obtuse to limit it to the 'last administration'.

Where you people got your $52bn external reserves under Jonathan that you keep repeating without shame is not clear.

President Jonathan was sworn-in as president on the 6th of May, 2010, external reserves stood at $38.8bn as at end of May that year according to data from the CBN.

That was when Nigeria was importing everything, when nothing was restricted.

One would think that the reserves would be growing now that Nigeria’s import is virtually non-existent. If 41 items have been removed from the import list for forex support by the Buhari administration, and the foreign reserves is still being depleted at an alarming rate, then something is wrong.

If you don't have shame, you don't have shame. Period!

You expect reserves to grow now with oil price less than 40% of what it used to be?.... You expect reserves to grow when the nation suffers from negative balance of trade (imports expense exceeds exports earnings)?

Holyman3:
You don't ask a native doctor to preside over the gathering of Pastors and expect him to start with 'In Jesus name'.

Buhari is running an exclusive government with his brothers as his advicers.
These are his brothers who cannot point correctly at Bayelsa State in an unlabeled map.

But they manage oil resources that sustain the entire nation.

KanwuliaExtra:
Next time. . . .
Ask him for WAEC!

BUHARI for 2019!

If there is anything Buhari's government has done well in the present economic crisis, it is in maintaining the level of Nigeria's forex reserves.

Lol... Politicians will always be politicians, PDP and their supporters were outplayed in their own game... Since then they've been weeping and asking 'where is the change?'

After spending 16 years of which the last 5 years was characterised by an unprecedented oil boom, PDP couldn't transform any single thing in Nigeria except their individual pockets. Taking a look at the nature of federal roads all over the country, one would weep at the uselessness of our leaders. They come online and brag about paper statistics of achievements, achievements which instantly reversed as soon as oil price crashed. Yet the morons have the guts to ask APC where the CHANGE is just after 1 year in office knowing fully well that APC took over leadership at a time of hard biting economic recession. Of course their empty headed zombified supporters claim the current recession is because APC took over power, ndi ara ndi ara!

Lush100:
.

Good news but I have lot of fears.
if the original investors, the Russian are not the ones handling it, I forsee the same vicious circle,
from background info, I learnt it is the Indians that are in it.
I'm not comfortable if u have gone thru the history of ASC

I heard the russians/ukrainians who built it have been invited to come handle the steel company. But the agreement/compromise reached is that the indians still get to keep the iron ore mining company (which supplies the raw material to the steel plant.

sCun:
Childish rubbish.

Nigerians should judge which one actually feels like recession. Definitely not then

bonechamberlain:
Under good luck we went into recession, but the suffering wasn't this high.

When you cut the root of a tree, the leaves don't wither immediately; rather they begin to dry up and fall off days later. Similarly if a man loses his job today, kwashiokor doesn't instantly come to his family today; it takes a period of time before the hardship sets in. This should be very easy logic.

sCun:
Buhari is just a fool. Tell us what exactly you are doing.

Did you really have to first call him a fool before you asked your question?

Delta state seems to be cursed with bad leaders.... Such an amount being owed and we cant point out a single major project to show for it besides asaba airport. So much for 13% derivation; useless leaders pocket the money and leave the communities in perpetual poverty. Meanwhile gullible youths continue to swallow the dubious diversion from rogue leaders that 'other tribes and regions' are responsible for the poverty in the creeks.

Not a single person on this thread has bothered to ask or speak of the competence (or incompetence) of the appointees; everyone is fixated on tribe, tribe and tribe. So much for the leaders of tomorrow, what a waste!

Dahjhi:
Boss obailala

Please I humbly solicit for your support and vote for this dude. IamKingzlee for the ongoing contest. Pardon for disturbing ur mention

Kindly visit the voting thread
https://www.nairaland.com/3263244/mr-nairaland-contest-2016-elimination

And type/paste

I vote IamKingzlee
Cc; Nljega

Help us to victory please. Thanks a bunch

Done!...but na wa oh!... What on earth is this Mr & Mrs NL all about?... What's the price tag?

https://www.nairaland.com/3263244/mr-nairaland-contest-2016-elimination/31#48119600

I vote IamKingzlee
Cc; Nljega

Every single Nigerian government has signed one historic deal or the other concerning this ASC, but it all ends in the same story. Hopefully this would be the last promise. Someone should wake me up when the first set of steel billets are rolled out.

Nigerians dwell over the most stuupid things; why should it be anyone's business if the volume of export of Ugu and Olugbu isn't up to $5m?... The most important thing about this story is that vegetables are being exported out of Nigeria in LARGE quantity. This is an initiative which can only grow and get better; if it isn't up to $5m today, it will definitely get to that level and exceed with time. Before now who ever believed Ugu or Olugbu could be cash crops?... This is an initiative that should be encouraged and more states should key into this.

idupaul:
Alpha jet don suffer for the hands of Nigerian Airforce ..the Jet be like please retire me but our Airforce no gree ..even as the maker don't support its maintenance again we still took them to Innoson to fabricate parts. .nice pics though

lordyugo:

obailala post=48077537:
If oil is found in the north, it will be a very good development. Irrational and childish hatred is the only reason why anyone would be sad that or opposed to oil beung found in the north.

so the S W EXPERTS after thorough research are irrational nd have childish hatred cos they gave their expert opinions which the whole world knows. Must everytn be bout tribalism, evn if u want to be tribalistic atleast do it in an EDUCATED AND ENLIGHTENED way so u wont sound like a bigot.

Huh? I am at a total loss at the motive behind your comment. What does it have to do with my comment you quoted above?... Where was tribe or region mentioned and how did you relate what I wrote to tribalism?

I am assuming you quoted me in error?

This sort of mess is what you get when the government decides to sell gift vital power infrastructure to its friends who have no business being in the power generation/distribution business.

[size=14pt]NIRSAL Guarantees N61.16bn Loans to Agriculture[/size]

- Plans credit to 3.8m farmers over 10 years

Managing Director, Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), Mr. Aliyu Hameed has said that the firm has guaranteed loans totaling N61.16billion to agriculture and disbursed N753.35million as rebate to borrowers who paid back loans on time between 2013 and 2015.

This was the period when the agency was still a project implementation office under incubation within the Development Finance Department of the Central Bank of Nigeria (CBN).

He added that NIRSAL had also guaranteed up to 207 agricultural value chain projects valued at N39.49billion under the Growth Enhancement Scheme (GES) programme of the Federal Ministry of Agriculture & Rural Development (FMARD) and paid $2.2million (N439.09million) as interest draw back to beneficiaries on 91 agriculture related projects.
Hameed said NIRSAL had between 2013 and mid-2016 trained 157,000 farmers/primary producers in 6 value chains including rice, cocoa, cotton, tomatoes, sesame, and soybeans.

Speaking during a presentation at the Design Workshop on Establishing an African Agriculture Risk Sharing and Financing Mechanism which was organised by the African Development Bank (AfDB) in Nairobi, Kenya, the NIRSAL boss argued that the growth of agriculture in Nigeria will lead not only to prosperity but also improve income equality in the country.
He, maintained that the positive impact of agriculture on income inequality was one of the several reasons for the focus of the Buhari administration on the sector which is believed to have the potential to boost the economy and improve the lives of Nigerians.

Hammed further described the progress made so far by NIRSAL as a product of the farsighted pro-people vision of the Buhari administration and the continued commitment of the CBN under Mr. Godwin Emefiele to achieving the vision.
His comments also came as the AfDB identified the NIRSAL financial model as of the current successes of African agriculture during its post event assessment of the workshop.

Describing NIRSAL as a “Game Changer” in Nigeria’s agricultural space, the MD added that it planned to further facilitate lending to 3.8 million agricultural producers out of the estimated 14 million agricultural producers in the country within the next 10 years by providing guarantees through intermediaries including Microfinance institutions and cooperatives.

In a statement by NIRSAL’s Coordinator Research & Strategy, Bello Abdullahi Abba! Hameed said part of the key objective of NIRSAL was to increase total value of agricultural lending- from the current 1.4 percent to 10 percent of total bank lending by 2026 and generating by $3 billion of additional agricultural lending in order to boost food production levels, stimulate inclusive growth, create jobs and increase the standard of living of farmers who constitute the greater majority of our population.
Essentially, NIRSAL was set up in 2013 as an initiative of the CBN, the Bankers’ Committee and the FMARD as a primary platform for managing agribusiness risk so banks can lend with confidence to the sector which had largely been neglected.

NIRSAL use credit guarantees to address the risk of default and provide technical assistance and incentives to both financial institutions and borrowers to bridge understanding and increase capacity to payback.

https://i0.wp.com/leadersandco.s3-eu-west-1.amazonaws.com/wp-content/uploads/2016/03/22194717/AGRICULTURE.jpg?resize=696%2C509

http://www.thisdaylive.com/index.php/2016/08/01/nirsal-guarantees-n61-16bn-loans-to-agriculture/

StOla:
Typical Igbo hypocrisy. When a Northerner could not recite the anthem earlier at this same screening, he was found unqualified by the Igbos who made a mockery of the North. When an Igbo could not, the anthem requirement became irrelevant to the same Igbos.

Only the Igbo is qualified by merit to hold every position available, any other tribe gets it by quota?

The 1st Republic comes to mind. Only Igbos everywhere using their position in the ruling government to help themselves to federal offices, even wailing about the Northern region not allowing them to dominate, when their own Eastern region gave nothing to anyone that wasn't from the region.

You have been condemned by the very standard you set. I'm sure many Igbos are embarrassed that this woman put their arrogant tribe to shame by failing to attain the standard for which they had already crucified the Northern nominee with much pleasure.

Egg on your face.

Please the person your quoted is just being a troll (just like many others on this forum who have completely lost their minds), you don't have to take his words seriously, or judge a whole tribe based on the utterances of some online twerps.

I've always asked myself this same question; how has this man managed to keep himself 100% out of the news?

What about male entrepreneurs?

grossintel:
Buhari you can not fool us, we know exactly what your doing. But that oil your looking for you will never find it. Your people should dress masquerades and farm.

If oil is found in the north, it will be a very good development. Irrational and childish hatred is the only reason why anyone would be sad or opposed to oil being found in the north. Nigeria is presently at the brink and any extra source of income is welcome.

mrvitalis:
Salary is 166bn per month that's 1.99 trillion
How much has been released for capital projects?? Over 200 billion ... Min of works, power and housing 160, then agriculture I think 26 and the rest shared among the ministries

Some people just want to complain about everything... How kuchen was Jonathan average earnings per month

Sometimes I just force myself to assume the people making some of these comments are kids with growing brains. Someone just calls a high figure and their brains fail to understand that most of it ends up as recurrent for salaries.

You hear things like, "CBN has $30bn in reserves and buhari is complaining of lack of funds." Their brains obviously thinks the FG should just dig into 'reserves' and the sad truth is that some of those making these comments are fully educated adults.

TheBiafran:
the same china that bubu reject their direct investment? only to go for a likewise rejected loan?
I PRAY THE ZOO FAILS TO SECURE THIS FUNDING!
this country never see anything yet!
THE ZOO MUST FALL!

The lifeline will eventually come through, Nigeria will eventually get better. Whatever evil (or good) you wish Nigeria, may that evil (or good) dwell in your life, your family and your generation forever. Can I get an Amen?

chi4ik4:
I think the OP is as old as your uncle, so what will you do about it?

The answer to your question is very obvious in what you quoted.

If the author of this post is older than 15 years old, then its a pity.

oluwaahmed:
NOTED! I oweva fear dat dis is jst a false show of strength 4rm d army shwin d 9ja delta dey r ready 4 dem if it begins to start. Oweva dese questns need 2 be asked;Ow many soldiers is d govt seekin 2 sacrifice 4 a costly war? Ow many soldiers knowin d evenual outcome of dis war wld be willin to jst trow away deir lives esp as d govt will eject deir family 4rm dbarracks wen dey r KIA? Does d country hav d resources 2 fight a 2nd war as-well-as cater 4 d dyin economy?

If deir ansa is yes, den sorry 4 u, d country is yet 2 see d worst.

A little off the topic advice.... do you know it's actually easier to use correct spellings to type instead of this weird spellings you have used up here?

These projects when completed would double Nigeria's gdp and instantly lift Nigeria out of its present mess. But some devils are already so pained about it and wishing and plotting how to stop it or sabotage it. How could normal humans be so opposed to progress?... The heart of man is truly desperately wicked even to himself. Tufia!

oluwaahmed:
D ability 2 sneak is wat is called stealth! Even wit facilities dt R heavily guarded dey still blow up tins, wit no casualties 4rm deir side. Who wld hav eva blived dey wld blow up chevron forcados? 4get even d NA does nt under-estimate dem. If d NA cld flush dem out, wld dey negotiate wit dem in d 1st place? Dem go kill innocent yoruba pple 4 makoko creek dem tuk sey militants, d same way dem dey kill 150 BH everyday.

Like I said before, a person sneaking in, causing havoc and then running inside the bush or blending-into a community and hiding behind innocent women, aged ones and children as a shield, such kind of warfare is very difficult to prosecute because of the danger of harming the innocent. This was the reason why the fight against bokoharam was very difficult.

However, contrary to the assertion of the person I originally quoted, if the battle were not in a community with lots of innocent ones, if you place the militants and the military one-on-one, the battle wouldnt last up to 2 days. In a face to face battle, the militants cant stand the military for up to 2 days; the only problem with this war is that the militants will only resort to using human shields, blowing up defenceless pipelines and throwing the entire nigeria into darkness and famine

https://scannewsnigeria.com/wp-content/uploads/2012/08/NLC-600x450.jpg

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www.nairaland.com/attachments/4039341_abia_jpegef69eefd4d851d72e24dca673d3e40ac

Jisos is Lawd!