₦airaland Forum

Agriculture in Nigeria is a gold mine. For example, Just imagine the potential for rice farmers, millers, etc if the FG totally bans the importation of rice with customs check-mating smugglers . We have arable land, good climate and huge domestic market (consumption) to sustain local production.

Well, Dangote isn't sleeping: http://dailypost.ng/2016/04/06/kaduna-investment-summit-dangote-to-invest-10million-in-tomatoes-plant/

As the two-day Kaduna Investment Summit opened Wednesday, Chairman, Dangote Group, Alhaji Aliko Dangote, disclosed that his company will be investing $10million in tomatoes production in Kaduna State.
Dangote, who was represented at the summit said apart from contributing to economic fortunes of the state, the company would also improve standard of living of tomatoes farmers as well as create thousands of direct and indirect jobs for Kaduna populace.

My sincere advise to the OP @Ymodulus, please do not collect any money (or be tempted to) from anyone (especially from Nairaland) to do this business on their behalf. Business is not for the faint-hearted especially when dealing with perishable goods/commodities.

Also this business is seasonal (the law of demand and supply applies) and therefore the profit/loss potential will vary based on the season when the trade takes place.

Protect your integrity.

I laughed and smiled at the ignorance displayed by the guy(s) that doubted your story. If not the fixation on oil and gas, Nigeria would have been an agricultural giant.

OlujobaSamuel:
I said it yesterday that banks will go distressed before early next year.
but wait ooo, I think there is restructuring of wema from regional to national bank last year, so why this? also, there is restructuring of odua group last year, with every company under the group bound to bank with the bank, and justrite supermarket using the bank as its bank, this merger and acquisition palava is scary.

With sound management devoid of political incursions, Wema Bank (Agbonmagbe Bank) should have been a tier 1 bank in Nigeria today. It is Nigeria's longest surviving indigenous bank.

They really don't need to be acquired or merged. M & A don't work all the time but good management does.

countsparrow:
Na so society generale talk b4 dem close shop, Wema!!! Is my money safe?

Your money should be safe, ask NDIC. Heritage Bank was formerly Societe Generale Bank of Nigeria (SGBN). You can seek redress if you had funds trapped at the former SGBN with NDIC.

In 2012, the core investor, IEI Plc, through IEI Investments Limited, acquired the Societe Generale Bank of Nigeria (SGBN) license from the Central Bank of Nigeria (CBN). Having fulfilled all required criteria, the bank returned 100% of existing SGBN account holders’ money to their owners. HBCL is a large financial services provider in Nigeria. Currently licensed as a Regional Bank, it offers banking and financial services in the country, excluding the South, Southeast and the North.[2] As of March 2013, the total asset valuation of the bank was estimated at about US$192 million (NGN:31 billion). Its shareholders' equity is worth at least US$62 million (NGN:10 billion), the minimum capital requirement by the Central Bank of Nigeria (CBN), for regional banks.

The bank traces its roots to the late 1980s, when it was founded as Societe Generale Bank (Nigeria) (SGBN), by the late Dr. Olusola Saraki.[3] In January 2006, the Central Bank closed down SGBN on account of failure to meet new minimum capital requirements of US$155 million (NGN:25 billion) for a National Bank. SGBN successfully challenged the closure in court. In December 2012, CBN re-issued SGBN's banking license, but as a regional bank.[4] The bank re-branded as Heritage Banking Company Limited and reopened for business under the new name on 4 March 2013.[5]

source: https://en.wikipedia.org/wiki/Heritage_Banking_Company_Limited

citizenisb:
Which Sanusi? Just on Marina you will see the SeaWolf (na real WOLF) deal done when Sanusi was the Chief Risk Officer. A rig on water with no preservation for over 3 years!

The current CBN Deputy Governor use to be CFO and ED at First Bank. He is building properties/hotels all over the place. He is planning to be Oyo State governor in 2019. You need to ask where that war chest is coming from.

They were just chopping shareholders money anyhow!

The Sea Wolf deal was a bad deal from inception. Perhaps it was just a "legal" money laundering avenue for everyone involved. They really milked FBN dry. Some of the innocent staff would have to pay for their executive management's misdemeanor.

Net impairment charge on credit losses amounted to N119.3 billion (Dec 2014: N25.9 billion). This was
attributable to the recognition of impairment on some specific accounts as well as collective exposures
following reassessment of the loan book in the commercial banking business due to the sharp decline in
global oil prices, the volatile macro environment, and fiscal and monetary headwinds which have resulted in
marked reduction in domestic output. Active remedial actions on the specific impaired accounts have
commenced. The main sectors impacted are oil and gas, real estate and general commerce; contributing
59.7%, 12.3% and 10.2% to the impairment charge respectively.^source: http://ir.fbnholdings.com/wp-content/uploads/2014/02/FBN_Holdings_Plc_FY-2015_Results_Press_Release.pdf

^^I guess this was the major cause of their disappointing results. However I would like to know the details of those specific accounts that led to these huge credit losses with oil and gas making up to about 60% of these losses.

FBN unduly exposed itself to the Oil and Gas sector. I taught they should have learnt their lessons during the 2007/2008 global melt-down/crude oil price crash. I wonder why some Nigerian banks over-extend themselves to the oil and gas sector, when they can actually dig-in their heels and create huge market potentials in other sectors. However making N21.5B profit before tax (77% down y-o-y) isn't too bad for their avoidable misadventure into the oil and gas sector.

The policy can also be extended to other wealthy nations such as South Korea, Australia, New Zealand, Singapore, etc.

With this policy, we can really boost our tourism potential and stop paying lip service.

I hereby propose that the federal government should introduce a foreign policy that grants nationals/international passport holders of the G7 countries a free 30-day entry visa into Nigeria.

The Group of 7 (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. The European Union is also represented within the G7. These countries are the seven major advanced economies as reported by the International Monetary Fund: The G7 countries represent more than 64% of the net global wealth ($263 trillion).[1] A net national wealth and a very high Human Development Index are the main requirements to be a member of this group. The G7 countries also represent 46% of the global GDP evaluated at market exchange rates and 32% of the global purchasing power parity GDP.[2] source: https://en.wikipedia.org/wiki/Group_of_Seven_(G7)

Some of the potential benefits of this policy includes, but not limited to the following:
1. Effective method of rapidly boosting our tourism industry.
2. Foreign currency receipts especially with the current scarcity of fx.
3. Potential Foreign Investments.
4. Employment creation.
5. Boosting our foreign relations with the G7.
6. Others (include yours).

The policy may be opposed for whatever reason. However with a robust policy debate, I believe the advantages of this policy will outweigh any disadvantage.

The Foreign Affairs Ministry should take note of the overriding benefits Nigeria would derive from this policy if adopted and implemented.

Kindly state your opinion. Perhaps an opinion poll may be required.

The short, medium and long term solution is the complete/full deregulation of the oil and gas industry in Nigeria.

[size=8pt]Illicit capital flight from the developing world is estimated at ten times the size of aid it receives and twice the debt service it pays.[109] About 60 per cent of illicit capital flight from Africa is from transfer mispricing, where a subsidiary in a developing nation sells to another subsidiary or shell company in a tax haven at an artificially low price to pay less tax.[110] An African Union report estimates that about 30% of sub-Saharan Africa's GDP has been moved to tax havens.[111] One tax analyst believes that if the money were paid, most of the continent would be "developed" by now.[112]

source: https://en.wikipedia.org/wiki/Tax_haven

There's no big deal (not surprised) about the Panama Papers as the existence and operations of these tax havens are open secrets. Large corporations such as Google (now Alphabet Inc), Apple, etc have huge sums in these tax haven countries for tax avoidance and/or tax evasion purposes.

Pandora's box is now open.

Piggy bank (sometimes penny bank or money box) is the traditional name of a coin container usually used by children. The piggy bank is known to collectors as a "still bank" as opposed to the "mechanical banks" popular in the early 20th century. These items are also often used by corporations for promotional purposes. The use of the name 'piggy bank' gave rise to its widely-recognized 'pig' shape, and many financial services companies use piggy banks as logos for their savings products.

source: https://en.wikipedia.org/wiki/Piggy_bank

The crux of the matter:

illegal as the federal government did not consult the National Assembly to repeal the enabling law that set up the organisation, before breaking it into different components.

[/b]

jaymichael:
Tell me, something is definitely not right here. A pastor wearing "the head of medusa" is he in league with the "dark kingdom" or is he plain ignorant (whichever I doubt) as a 'pastor" he should be able to decode.

In Greek mythology Medusa (/məˈdjuːzə, məˈdʒuː-, -sə/, US /məˈduː-/; Μέδουσα "guardian, protectress"[1] [b]was a monster, a Gorgon, generally described as a winged human female with a hideous face and living venomous snakes in place of hair. Gazers on her face would turn to stone. Most sources describe her as the daughter of Phorcys and Ceto,[2] though the author Hyginus (Fabulae Preface) makes Medusa the daughter of Gorgon and Ceto.[3] According to Hesiod and Aeschylus, she lived and died on an island named Sarpedon, somewhere near Cisthene. The 2nd-century BCE novelist Dionysios Skytobrachion puts her somewhere in Libya, where Herodotus had said the Berbers originated her myth, as part of their religion.

Medusa was beheaded by the hero Perseus, who thereafter used her head, which retained its ability to turn onlookers to stone, as a weapon[4] until he gave it to the goddess Athena to place on her shield. In classical antiquity the image of the head of Medusa appeared in the evil-averting device known as the Gorgoneion. source: https://en.wikipedia.org/wiki/Medusa


Medusa was one of three sisters born to Phorcys and Ceto known as the Gorgons. According to Hesiod's Theogony, the Gorgons were the sisters of the Graiai and lived in the utmost place towards the night by the Hesperides beyond Oceanus. Later authors such as Herodotus and Pausanias place the Gorgons' abode in Libya. The Gorgon sisters were Sthenno, Euryale, and Medusa; Medusa was mortal while her sisters were immortal.

Beyond the Gorgon's birth, there is little mention of the Gorgons as a group, but Medusa has several myths about her life and death. The most famous of these myths concern her death and demise. In Hesiod's Theogony, he recounts how Perseus cut off the head of Medusa and from her blood sprang Chrysaor and Pegasus, Chrysaor being a golden giant and Pegasus the famous white winged-horse. source:
http://www.ancient.eu/Medusa/

People should be mindful of the church they attend. It takes a lot of grace. God help us all.

Lagos is the commercial capital of Nigeria. The HQ of the CBN should have been left in Lagos but for politics........

If this report is true, then its just a coded way of telling the Judges to always give their judgements in favour of the government (government cases) irrespective of the need for fair hearing.

Does the Minister/AGF have the right to issue threats against the Judiciary.

My prayer is that Nigeria do not go the way of failed and/or failing states like Syria where the fault lines finally gave way at a point.

17. Get all your tax deductions.
Talk to accountants and CPAs and you'll be surprised at the number of commonly available tax deductions and credits that people fail to take. That effectively means people send money off that could be in their pocket instead. Make sure you keep what you can.

Culled from http://www.inc.com/erik-sherman/17-ways-to-make-more-money-in-2016.html

16. Advance your education.
Higher levels of education generally correlate with higher incomes. Go back to school for a first degree or an advanced one.

15. Do something on the side.
Early in my life, I remember being shocked by the simple idea that if you do additional work on the side, you made more money. Take time you'd otherwise waste and build your bank account.

14. Study the habits of people who make money.
If you want to know how to play basketball, you want good basketball players. To learn to paint, you study the work of great artists. To make more money, observe what rich people tend to do.

13. Start investing.
If you're not investing, start today. Compound interest has power.

12. Be helpful.
I'm not one for complex metaphysical speculation about everyday occurrences, but I have noticed that the more you help people, the more comes back to you. In perhaps the most bottom-line practical interpretation, if you help people make money, you can generally earn a portion. But the bigger idea of not always looking for how some generosity will benefit you is the bigger one.

11. Create intellectual property.
Whether in the form of writing, inventions, images, know-how, or other forms of intangibles, intellectual property is the driving force behind many business successes. Create something you can own that can make money over and over again.

10. Spend less.
Here's one of those obvious points, but one that's within your control to address now: Keep more of what you make to have the capital you'll need.

9. Get more sleep.
Economics have found a connection between lack of sleep and diminished income. If you're short on rest, you'll also suffer from muddy thinking and poorer health, which affects your ability to make money.

8. Teach.
There are many occupations that people want to learn, whether through evening classes, workshops, or direct tutelage. Get out there and start teaching what you know.

7. Start a business.
The real way people get rich is by creating businesses that build value. Start doing that part time (if you aren't already running a business).

6. Change careers or jobs.
Sometimes you get to the end of what's possible doing what you do where you currently are. You might need a significant shift in the type of work you do, or to find someplace that will value you more highly. As the job market has been picking up, that should become easier.

5. Brag (through action).
If you've been improving your capabilities, that's great. But you have to let people know. Do so by showing the improvement and not talking about it. Become the expert people rely on and build your value in their eyes.

4. Sharpen your skills.
Another aspect of getting paid more is boosting what you bring to the table. No matter how long you've done what you do, there are possible improvements in how you do it. Improve your skills and make yourself more valuable.