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PoliticsRe: King Of Oghara Kindom Welcomes James Ibori To His Palace After His UK ReturnPICS by pacespot(m):
Only thing that matters in Africa is money, Africa doesn't have any values. If one elder challenges you because of your dress code or what you believe, it is wise you rebuff such elder immediately coz he/she is only doing so because you are perceived as skint.

I remember during 2007 election, a well known PDP local government chancellor, who is married to a princess in his town in Akoko area, came forward with an assault rifle right in the middle of election in his own ward, unit, even right beside his house, chased people away and snatched the ballot boxes, in fact, he nearly shot one guy in the process if not the guy manoeuvred his way to escape death that day.

Do you want to know what happens afterwards? Well, he was given a rousing welcome to the palace a few days later, still married to the princess, and very well regarded as one of key stakeholders in the community.

To goodhearted Nigerians out there, never risk your life for anyone when the issue at table has to do with money. Africans don't have the mental stability and maturity when money is at sight, I don't know whether it is evolutionary problem or is just the way people are, but at present, things can go sour quickly when the task gets to that level.

This is beyond governance or the norms in the society. It is intrinsic, I mean the people themselves
PhonesRe: How To Check If Your Phone Is Cloned(fake) Or Not. by pacespot(m): 7:38am On Feb 04, 2017
xreal:
nop, dual SIM.
OK thanks, thumb up smiley


But that site imei.info, I am wary of it, because it is not affiliated to any trusted authority to make me believe they don't have any ulterior motive.

One has to be very careful before revealing his/her phone IMEI, just thinking out loud
PhonesRe: How To Check If Your Phone Is Cloned(fake) Or Not. by pacespot(m): 7:21am On Feb 04, 2017
I have heard of this for long but I always forget that code, let me bookmark this page. Thanks OP

But my Hot 4 has two IMEI numbers, does that make it fake?
PhonesRe: How To Check If Your Phone Is Cloned(fake) Or Not. by pacespot(m): 7:17am On Feb 04, 2017
I have heard of this for long but I always forget that code, let me bookmark this page. Thanks OP
WebmastersRe: Facebook Owner Mark Zuckerberg Reacts To President Trump Policy. by pacespot(m): 9:10am On Feb 01, 2017
The funny thing is that Trump families were also immigrants from Germany. Imagine, an immigrant preventing other immigrants from gaining access to a dreamland, talk about human greed.

I have always emphasized this, this is not about religion or terrorist threat to an america nation, but the greed of some rightist elites who are hell bent in protecting their fortunes made during the last administration. Obama took that country from recession to one of the greatest economic pedestals in recent times, even when the world economy is toiling.

I will keep admiring Angela Michel for her role in absorbing over 800k refugees into Germany, a nation of just 80 million people, that is 10% of the population. If that step was not taken, who would have known the humanitarian disaster that would have happened due to Bush and Tony Blair meddling of affairs in the middle east.
Foreign AffairsRe: ACLU Wins Legal Challenge Against Immigration Ban by pacespot(m): 8:43am On Jan 29, 2017
This is not about religion, it is about business. Some people think USA care much about this religion thing they are so facially promoting.

USA wouldn't dare issue ban on Iraqis in early 2000s when they were busy stealing their oil. They don't need them anymore now that the country is war ravaged. Look at the countries in their terror list: Iraq, Yemen, Libya, Syria, etc. all in need of international emergency.

But the Saudi Arabia that are known to be the major Sunnis sponsors are not there, ISIS is a Sunnis group. Iran who are the sponsors of Shi'ite are not there too, the opposing group to Sunnis. UAE, Qatar, Egypt, Turkey are all known to be associated with some group of extremists, but they are well developed countries with sound economy, for that, USA dare not put them in their terror list.

These western countries are only emphasizing tighter border control due to international oil price slump which has ravaged many countries' economies and puts them at the mercy of aid from richer countries in the west.

So you people should get it stuck into your brain. This is not about religion but BUSINESS
RomanceRe: Kenyan Tattoo Artist Boasts Of Sleeping With Over 500 Ladies, Shares Photos by pacespot(m): 6:48am On Jan 26, 2017
That is the trend. If you are a guy man selling something that women love, every woman that comes around to patronize always believes she has two pockets to pay you. The pocket where she is keeping cash, and the inner wallet. And most would prefer the inner one, coz it makes them feel smart.

Ask a make-up artist or even a photographer for more stories wink
Foreign AffairsRe: 2.5million: Crowd Marching Against Trump In The U.S. (photos). by pacespot(m): 10:21am On Jan 22, 2017
Western hypocrisy, who is deceiving who? Who are those 58 million who voted for him? Were you hypnotized to do so?

I now see where Nigerians copy their hypocrisy and chameleon attitude from. Wole Soyinka has voiced out the truth about where the world is headed, - the world is moving from GLOBALISM to NATIONALISM.

It is unfortunate that Nigerians could only insult a great mind like Soyinka which is quite discouraging for others who may want to voice out.

I can authoritatively attest to this being an online business person
BusinessRe: Manufacturer Cautions CBN Over Sale Of Dollar To Bdcs by pacespot(m): 12:51pm On Jan 15, 2017
deenee:
First and foremost CBN has been selling dollars to BDC operators since the time of GEJ. Infact it is on record that about 6billion dollars was sold to BDC operators in one year alone during GEJ's tenure.

It is also on record that a lot of these BDC's are fronts for corrupt politicians and civil servants. Someone once showed me documentary evidence linking ownership of about 150 BDCs to a former VP of this country.


The Buhari administration has been trying to sanitize the BDC business but met with stiff resistance. Just like Nigerians want Buhari's head for banning foreign rice yet at the same time we want local producers to excel. My question is if we don't patronise the local producers how will they excel?

A lot of the manufacturers that are also making noise are rent seekers who simply want to get dollars from CBN using over invoiced Form M after which they turn back and sell over 70% of the dollars back to the black market.

Let's stop deceiving over selves. Nigeria will not change for the better but rather get worse until we Nigerians decide to shun all sorts of corrupt greedy practices that undermine the growth of our country.

CBN stopped giving Erisco the tomato paste maker "special dollars" because they discovered that he was round tripping some of the dollars in the black market. The man comes and starts shouting and saying that he will relocate his business not minding the fact that he has committed an offence that is punishable by death in countries like China and Korea. Yet ignorant and gullible Nigerians are abusing the govt without even knowing the full story.

The bad thing is the dollar situation will not abate or get better any soon despite the increase in oil revenue because the pile up of cash for 2019 elections has started and this pile up is currently been done by three sets of people namely....PDP, APC and a new political party in the making.

God bless Nigeria
Hmm, what a great insight you just shared. The problem is not about the policies but the people implementing them. Both the local manufacturers and BDCs would take advantage of any policy in their favor. How can a nation grow when the people are neck deep in illicit practices? You want government to come to your aid, but any ensuing help is used at the detriment of the masses. And, they will still come out to blame Buhari for it.

Government policies, all over the world, are often skewed to one side, it's now left to the beneficiaries to give back to the society what they have received. But the reverse is the case in Nigeria, we are still waiting for the proposed data hike by telecom operators
Music/RadioRe: Full List Of Radio Stations In Nigeria, Frequency, Location And Address by pacespot(m): 10:19pm On Jan 05, 2017
seguno2:
Are you not a fellow citizen?
Or you are also allergic to news and information about our country?
Every news about anything nigerian is one bit of compression for my mental capability. I'D rather look elsewhere for refreshing stories where sanity is still human valid
Music/RadioRe: Full List Of Radio Stations In Nigeria, Frequency, Location And Address by pacespot(m): 3:22pm On Jan 05, 2017
This post is more useful to my old woman who likes keeping up with Nigerian news, but for me, internet all the way...
LiteratureRe: Soyinka Threatens To Exit Nigeria by pacespot(m): 1:02pm On Dec 06, 2016
Sir! If you're reading this I want you to know that those attacks you're getting on social media are not the general views of all Nigerians. They are coming from some sections of the society badly embittered by the outcome of the last presidential election.

Even if you're saving their sorry asses from dying they will still attack you simply because you are a truth speaker who they see as a common threat to their collective loots which they're dying to protect by frustrating the efforts of this present administration.

I think you should know by now that nigerians live by hysteria, when you don't allow an issue to rest they will suck every tiny detail of it to fill their empty lives. An even a frog (Reno Omoriki) who can never step onto the same podium you're being celebrated will also want to become an harbinger in the frenzy.

So ignoring them is the best solution. We all know negative comments resonate best with nigerians
CrimeRe: Thief With Juju Beaten To A Pulp In Onitsha And Burnt Alive (Graphic Pics) by pacespot(m): 1:38pm On Dec 05, 2016
ifyalways:
The average Nigerian now double sweats for every kobo s/he makes hence we are doubly vexing.

Please awon ole's don't try us because you likely will not live to tell the story.

If you want to steal, carry gun go Politicians house. We don't care. . .

If you decide to obtain from people who have been made overtly aggressive, angry and hungry by the unfavorable terrain and face of this country, then be ready to face whatever you see.

C'est finis. Otu adi eme ebele.


Check, It's mostly people living abroad. From their secured, comfortable and working environment they type cheesy Make dem come stay here for mere 3 months, they'll understand the koko.

Take this petty thieves to police and see them out in one month, bolder and better equipped.

This petty thieves are demons, heartless and absolutely have no mercy. They can wipe out a whole family because of 100K or less, maim and render one useless over a phone . etc.
Heartless souls, I have no pity for them.

One demon off the streets, many more to go. cool
But the real question is if Nigerians so much hate thievery why are we still having endemic corruption in governance today?

You that are typing this maybe you're a trader. You have definitely duped one of your customers by selling an item worth N500 to him at N1500. Is that not stealing? But you'll call it a business, same with every other business person out there duping people under the pretext of business transaction, which is one of the big reasons for where we are today.

You're calling this wretched-looking man an armed robber, I bet you haven't seen one before. Any armed robber stealing below millions of Naira is still a petty thief to me, and you can't tell me this man is worth a million naira.

The real armed robber won't die cheaply like this. You're just killing hungry people who are stealing to survive. So far the person hasn't killed, no human being deserves to die this way. Even if he had committed murder before, there is a better way to deal with such person. Hand him over to the police and watch the case closely, or if he gets killed at the spot of operation, that's still fair.

But burning a human being alive, nothing can justify that. Even a goat or ram is not subjected to such punishment during a festival. You don't know the psychological terror you're unleashing in those at the scene watching a human like them being burnt to death.
WebmastersRe: Can I Make Money From Pageviews If My Blog Is Accepted By Google Adsense ? by pacespot(m): 11:04am On Dec 05, 2016
Revolva:
grin grin yep na u can


omo dem no wan send me my pin to my virtual address ooo ...to verify ,my adsense ...its a US adsense
US AdSense? Do you mean there is an AdSense specifically designed for US publishers, or just by changing your location to United States.

How is it different from other AdSense programs? And how fast is the approval process?

I only know about premium Adsense publishers
PoliticsRe: Buhari Approves N522b For States To Pay Salary, Pension Arrears, Help Economy by pacespot(m): 2:52pm On Dec 03, 2016
gen2briz:
Please let mimiko hand over before releasing that of Ondo state oooo
cheesy cheesy cheesy exactly what I have been thinking. He will just use the money to do send-off party for himself cheesy cheesy cheesy

That man seriously needs to be probed
PhonesRe: Aborted Tariff Hike: Expect Poor Data Services, Telecom Operators Tell Consumers by pacespot(m): 9:02am On Dec 02, 2016
The subscribers who can access all the networks in their area won't feel a pinch of this poor network. If one network isn't good they can easily port to other networks.

But in my case, only MTN is conveniently good for browsing in my area, other networks are there, but they are terribly slow. And this is MTN that's #1 in showing manipulative tendency to end users, I'm really worried by this threat!

I've envisaged this coming due to continuous rise in prices of goods and services, they too want to hike their data price to cover for the increasing cost of living in the country, how many Nigerians make calls these days?

The Nairaland kids they were mocking Buhari when the president was using DSS to chase unscrupulous Bureau de Change operators, you can see the shame is on you now.

Every fight against corruption is a fight for the common man on the street. I even heard one useless element on this forum saying it's not his money that was stolen by the last administration, and this animal will still come on here to complain of no electricity, jobs, and other infrastructures.

I just hope the network providers would consider we that are using the data for legitimate online businesses, not coming on Nairaland to curse the government and fuel ethnic division.
PhonesRe: NCC Suspends Data Price Increase by pacespot(m): 6:03pm On Nov 30, 2016
Since they prevented them from OVERLY increasing the price of data, I hope they won't COVERTLY increase it by speeding up the consumption rate of the data bundle. Before you browse a few pages, your 1.5 gig is already exhausted
WebmastersRe: How To Monitor File Changes On Web Server by pacespot(m): 7:17pm On Nov 29, 2016
Slyr0x:
Yesterday, I was trying to help a client fix a hacked site and one of the controls I put in place was to monitor changes to files on the web server. . So I'll just explain how you can also do same (either you are on a shared-hosting or dedicated server provided it's a LINUX box).

Over time when malicious hackers hit your site, they've been known to drop a backdoor somewhere on your server. It could be the /css , /images , /admin/images, /js , /includes directories . .somewhere far hidden from you.

To check for recent file changes on your webserver, you can do this

1. If you have SSH access, fire up Putty and run this command [
/b]



Make sure [b]/home/xxxxxxxxx/public_html
is the full path to your public_html,www, httpdocs directory

2. Setup a cron job

- Login to your cPanel
- Under "Advanced" submenu, you will see "Cron Jobs". Click it
- Tweak the settings to suit you (either you want alerts hourly/daily/weekly)
- There is a section for "Commands", type in
- Click "Add New Cron Jobs"


This will NOT prevent files from being changed without your knowledge. However, if a file is added or changed, you will get an email alert telling you which file was changed.


Cheers.
Hello OP @ the bolded, how do I "fire up putty and run the command?"
WebmastersRe: How To Monitor File Changes On Web Server by pacespot(m): 7:00pm On Nov 29, 2016
Thank you OP for this invaluable post, though I haven't tested it but I believe it'll become useful when I start scrutinizing American predators from my web server.

Americans are a mess of internet-based business nowadays, you wouldn't believe they constitute over 70 percent of visitors to my website but I haven't gotten a single client or earn a cent from their visits yet. They will rather send me email embedded with malicious code or spam comment expecting me to click on the link to get access into my private information.

I have gotten a few clients from Asians; Indians and Taiwan especially, despite being less than ten percent of visitors to my website. In fact, if I have a way to redirect all my traffic from America to Asian countries in my webmaster section, I'll quickly do that with glee. But Google only allows you to target one particular country at a time in the "Target Geography" section, not continent.

If you're a website owner and still targeting American audience nowadays, sorry to say, but sorry is your name.

http://www.socialmediaverve.com
BusinessRe: How To Save Money On Jumia And Konga Black Friday Deals by pacespot(m): 10:17am On Nov 17, 2016
Nice info, maybe I will change my phone on that day. Please who knows how quick they are in shipping?
CrimeRe: Phone Thief Burnt To Death In Lagos (Graphic Photos) by pacespot(m):
If you're a petty thief that's one case, but if you attempt to take lives then that's a big offense. But seriously, is it possible for someone to be a thief and can't take life. The heart of thieves and murderers are almost the same, but not in all case though. We have people who are into stealing due to their socioeconomic conditions.

The bottom line is that the people who are subjected into this barbaric treatment in Nigeria are often wretched-looking. Why?

This is not to say I condone stealing or attempted murder. But I just hope one day Nigerians can give a dose of this treatment to their treasury looters, just one person, one, is enough to reverse the ugly trend in this country.

I know some of these politicians by association, they are cowards, they only rely on security operatives, or in some cases cowardly political thugs, to oppress people.

The incidence during Jonathan administration when the national assembly was locked down exposed these politicians for what they are, I could see how they were breathing profusely simply because they had to jump the small gate to the hallow chamber on that day :-) These people are so fragile I don't know why Nigerians allow cowardly people to be ruling them as this.

I just hope people can develop balls to attack their politicians like this poor boy one day
LiteratureRe: Your Problem Is Ignorance : Soyinka Hits Back At Internet Trolls by pacespot(m): 10:53pm On Nov 13, 2016
ATERI:
What on earth is Prof. Soyinka doing responding to these mannerless lunatics?
I thought as much, even ordinary toutish governor Fayose wouldn't have the time responding to foul-mouthed ate-filled nigerian urchins.

The people that flare up when political canker worms that raped their destiny are being prosecuted for corruption don't deserve a reply from even the smallest mind schooled by the academic juggernaut like Soyinka, he should just leave them to continue to rot away in their ignorance.

Because before anything they will turn this into a media frenzy to occupy their empty life.

A man said he would tear his green card if a particular candidate emerged winner in an election, what if that's a hyperbolic statement just to emphasize how disappointed he would feel. We all know a sane person won't do such thing to provoke other nationality where he/she is resident.

A lot of people have already torn their green card in the aftermath of this election, only a matter of time would you begin to see how America's relationship has turned sore with the outside world. We already see Filipino government making moves in this regard, and some others who are still watching the trends in America's politics.
2 Likes
BusinessRe: DSS Raids Bureau De Change Operators In Abuja & Lagos, Forces Dollar Down To 400 by pacespot(m): 5:19pm On Nov 10, 2016
I don't think people on this forum understand how Nigerians think, by the way, most of the people here are kids anyway. You can't control a typical black man with levity. Same as a business run by black people.

All this theory of demand and supply will only work with white people, they're all imported theories that haven't shown to work with black people yet.

A black man will rather look for a loophole to cheat a system than seek to earn a legitimate means in it, while a white man will conform with the standards in it so far it benefits all.

Why is it that you will have to price everything up to the last drop of saliva in your mouth before you get the actual price from sellers nowadays.

I will be so happy if government can put in place a stringent price control mechanism in this economy. I'm beginning to have fate in this government.

It seems Buhari knows his onions as his policies are showing that he really knows how nigerians think.

Yes! ...Democracy is not by force but with black people you need some stringent measures to force them to do the right things.

A bureau de change operator who has seen a fellow seller being punished for dubious transactions would be cautious next time a buyer/seller came to transact a business with him, who knows if the next buyer is a detective from DSS?

Black people are not ripe for a pure democracy, I believe the father of democracy Abraham Lincoln himself would have had a second thought about the definition of democracy if he knew the mentality of a black man, when he was defining democracy as the government of the people, by the people, and for the people.
PhonesRe: The Difference Between CC And BCC When Sending Out E-mails by pacespot(m): 4:30am On Nov 07, 2016
Nice one, I hardly use these fields though maybe because I only intend my email to one recipient. Some cases are where Bcc and Cc fields are the same
Foreign AffairsRe: Malik Obama: Why I Am Voting For Trump by pacespot(m): 10:02pm On Oct 30, 2016
That's african mentality for you, they think government is of the family, by the family, and for the family :-) :-)
PhonesRe: 08141629384 is a data scammer by pacespot(m): 6:41pm On Oct 23, 2016
toby2:
no i don't, got only his digits
Ok, that guy needs to be taught a lesson. Should you have any clue later, please don't hesitate to signify
PhonesRe: 08141629384 is a data scammer by pacespot(m): 5:12am On Oct 23, 2016
toby2:
pls you all should beware of this number 08141629384. The guy is a scammer. If there is any mtn official, pls help track this guy. Below was the advert he pasted on nairaland. Mods should pls place this on the front page. Below is his advert pix on nairaland
Please, do you have any detail on how to track the guy down: 08141629384

His name, email address/physical address, or any other online profile?
PoliticsRe: Onyeka Nwelue Criticizes Buhari's Ambassadorial Nominees Over Old Age by pacespot(m): 5:59am On Oct 22, 2016
Nigerian youth don't even believe they are useful for themselves not to talk of family, let alone a nation. All they care about is where the next freebie will come from and to defend as if their life will end without it. Whether in the North or South, the believe is that youth are meant to be subservient to the elders, that's their purpose of coming to this world. Think otherwise and you will see your fellow youth put you to sword for the sake of showing respect to an elder.

The oldies know their unquestionable height and they rob it in youth's faces. Those in government become "yam eaters" and use the proceeds from their loots to bed the young bloods at will. That's why one deranged old man will marry 97 minors from a region and youth will be shouting 'rakadede,' they are happy that an old man had "sampled" their future wives.

Let me paint a scenario for you. Lately there are alarming cases of old men raping the under-aged girls, but I have never had the punishment dished out to any culprit for once. But youth would be quick to set ablaze a wretched-looking young man who stole a sum of five hundred naira. Please which one is graver an offense between the two?

I will conclude by saying that it's time the people in charge of this forum looked into those that are coming here to advertise SME data bundle sale. A lot of low-lifers have invaded this business, send your recharge card pin to them and that's the end of discussion. Some will even send you a fake notification of data share. Particularly this guy:

08141629384 called himself "Smart Connect"

So cheap a scam. Send him your recharge pin and he stops picking your call, even when he picks you could sense the happy mood in his voice like his trap has caught a victim :-) . Maybe his entire lineage hasn't seen a recharge card worth N1,500 before. When karma is catching up people will think it's his village people that are doing some configuration over his life not knowing it's his own doing.
BusinessRe: Why Banks Suspended Payment Card Use Abroad by pacespot(m): 4:59pm On Oct 20, 2016
obailala:
In general, a higher exchange rate attracts people with forex. This simple logic also explains why Nigerians in diaspora have been sending far much more money back home lately. Foreign investors doesnt necessarily mean massive multinational companies, it includes the small and medium sized businesses, it also includes that simply Nigerian living in the US or UK for the past 15 years but who thinks he has to take advantage of the benefits the exchange rate gives him to set up that little restaurant or that little estate or farm he always dreamt of having. However you look at it, we're talking of forex capital inflow to the country.
Ok, that's also good. But the key question is that, are we marginally better off with such kind of investment considering that the country is heavily dependent on importation?

If we sacrificed our currency to encourage people sending money home from abroad, what about the burden on the domestic prices of goods and services, since we are not yet self-reliant to cater for our consumption.

The burden would be heavy, I think
BusinessRe: Why Banks Suspended Payment Card Use Abroad by pacespot(m): 4:19pm On Oct 20, 2016
obailala:
Okay we agree you are patriotic and totally not selfish, a simple question for you to answer honestly:

You have £100 in your pocket, the abokki at the junction is happy to buy it from you at N550/£ but the BDC beside him is offering to buy it from you at N450, who will you sell your £100 to?

Your answer would be much appreciated.


Have you ever asked yourself why several economists kept urging the CBN/FG to devalue the Naira back when it was still pegged at N197 to $1?... It is because when adjusted to the more realistic value, it would encourage foreign investors (and people with forex generally) to channel their forex into Nigeria since they would be enticed by the higher value. The idea is simple Economics 101, when many more people are encouraged to bring in their forex into Nigeria, it creates a higher SUPPLY of forex, thereby driving down the price; that is the proper and sustainable way to bring down the price, not the artificial decrees of the CBN forcing people to sell at lower prices in the name of patriotism/non-selfishness.
The issue of attracting foreign investors is a complicated economic model, there are many things that go into that. Infrastructure is key to reduce their overhead cost, and many more factors that are even beyond economic terms: trust, safety, alliance, even LOVE for the hosting nation.

After all, CBN's forex rate had dove-tailed with the parallel market rate for many years when exchange rate was still N150/$1, how many foreign investors did it attract?
BusinessRe: Why Banks Suspended Payment Card Use Abroad by pacespot(m): 3:44pm On Oct 20, 2016
obailala:
Obviously you do not get the point.

The pound sells for N550, you have a £10 note in your pocket and the CBN tells you you must exchange it for N450 (in order to give a false impression that the Naira has appreciated), does that make any single sense to you?

The pound is worth N550 but you are forced to sell it for N100 less than its value at an artificial false rate of N450 even though the commodity is still scarce, you really think that is the best way to help Nigeria for a person who isnt selfish as you claim?.... You really think that would encourage people to release the stockpile of scarce forex they have in their vaults?... Have you ever heard of demand and supply theory?

Today a bag of rice sells for N18,000 to N22,000, then a rice seller is asked to sell it for N7000 by force, is that a sensible way to bring down the price of rice?
Thank God you admit that the commodity is scarce. Now, if CBN allowed you to exchange pounds for N550 as an official rate, tell me how the parallel market rate would rise to N650. Try to understand, this is an austerity measure by government to save Naira from crashing completely.

There are a lot of speculative activities going on in the bureau de change, they hoard the dollars to create scarcity and sell at a far higher price. If government devalue the currency, that will give them the license to further inflate their selling price, so far the commodity is still scarce.

Hope you understand
BusinessRe: Why Banks Suspended Payment Card Use Abroad by pacespot(m): 2:55pm On Oct 20, 2016
obailala:
Not at all, this has nothing to do with selfishness... Rather it is silly and counterproductive for the CBN to artificially peg the official value of the Naira at a much reduced figure when everyone knows the actual value (blackmarket) is far far higher.

This was the exact reason the Naira was floated in June; to bridge the gap between the official and parallel/blackmarket rates, to encourage foreign investors and diasporan Nigerians to bring more forex into the country and to prevent our numerous dubious businessmen from round-tripping by collecting official rate from banks/cbn and selling it back at the blackmarket with instant N150 to N200 profit per $/£.

The CBN says Nigerians in diaspora remitted $21bn into the country last year; this whooping figure isn't because diasporans now have more money, rather it is because it is now more lucrative to send money home so diasporans now work harder and squeeze themselves to send down every little they make. In return, this increased remittances helps the economy but these silly CBn policies of forcing money transfer organisations (like Westi etc) to exchange at lower rates (even when we know the real value on the streets), such moves only discourages a lot of diasporans from sending money down as they would have wished and I'm yet to fathom how this helps Nigeria.
You're still very selfish like the other guy say, so the exchange rate of N310/$1 isn't enough for you to send money home to your people, you want to sell dollar at the parallel market rate even when you're not living in Nigeria, facing hardship with the people whose scarcity of dollar has doubled (or even tripled) the prices of goods and services from what they used to pay just under a year ago. You don't feel the pain of dollar scarcity but want to reap the benefits.

For god's sake this is a currency that exchanged N150/$1 for just over two years ago. People keep saying CBN should float exchange rate when nearly 80 percent of Nigeria's consumption is coming from abroad. Tell me how this will stop dollar demand. Even if CBN pegged the official rate simultaneously with the parallel market rate, it's just a matter of time before the dollar scarcity sets in and we start asking for another floating exchange rate again.

The only way out of this is to revamp our local production to cut our demands for foreign goods. If Nigeria can produce just 50 percent of her consumption, I can tell you the dollar will fall like a scrap of paper. You can't fix the exchange rate without firstly addressing the demand side.

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