Ow0eg0kudi:



Whaaaaaaaaat??

Jerry-curls and funny dentition. I really felt so bad when I heard the beauty queen left him thinking she was just after the ow0eg0kudi not knowing that....



Ooooomo...I must tell my siblings this...I too like the man...naija I hail

His employer also used EFCC against him, as per N15 billion fraud

Selfish/self centered people (elites, politicians or whatever) that take steps or make decisions to lengthen/delay the timelines of developments that can enhance the quality of life for all is truly disappointing. Nevertheless, I agree with two points you made below (bolded).

LordAdam16:


True. It has started. However, the entire Western hemisphere is unlikely to have fully-automated societies with low-skilled natives paid to exist and consume before 2100. Futurism projections have to be modest, otherwise they can turn out to be way off.

To illustrate, it took us 120 years to go back to electric cars. It'd most likely take us at least 60 years to return to the moon.

Progress doesn't always occur logarithmically. Unforeseen setbacks, like another East-West Cold War, can reset the clock by several decades. Not to mention there are anthropological concerns with making a systemwide switch; such that even when technology advances to the point where it becomes feasible, the plutocrats will delay implementation until the time is right.

Poor timing and/or shabby implementation can result in widespread unrest, spike in drug usage and vices (idle minds can be particularly destructive), amidst other unpleasant consequences.

For instance, there are enough minerals in the asteroid belt (between Mars and Jupiter) to give each human on the planet over $100b and current technology is advanced enough to refine space mining within the next two decades to make extraction feasible. However, the elite isn't in a hurry to green light that for obvious reasons. Likewise with global food production, as a species, we have the means to affordably feed everybody on the planet employing no more than 5% of the global population but the economic system we practice globally does not allow that and the displacement could be catastrophic if done abruptly.

Not to mention, handing a restless demography free stuff for life isn't exactly a panacea. Humans are notoriously insatiable.

-Lord

Goodday great people. Anyone with last tbills auction results please?

yinkaoke:
Goodday great people. Anyone with last tbills auction results please?

Please don't be offended for this innocent question.

Did you buy the last Treasury Bill? Who did you buy from? Do you have the email of your account or relationship manager?




Your account officer or relationship manager is in a better position to give you the answer you are asking for, shoot them a mail or give a phone call.

certainly one with a huge reservoir of sarcasm

emmanuelewumi:



Please don't be offended for this innocent question.

Did you buy the last Treasury Bill? Who did you buy from? Do you have the email of your account or relationship manager?




Your account officer or relationship manager is in a better position to give you the answer you are asking for, shoot them a mail or give a phone call.

emmanuelewumi:



Please don't be offended for this innocent question.

Did you buy the last Treasury Bill? Who did you buy from? Do you have the email of your account or relationship manager?




Your account officer or relationship manager is in a better position to give you the answer you are asking for, shoot them a mail or give a phone call.

Your question is not innocent but annoying, you were not asked any question so why didn't you simply look away. This is a treasury bill thread and we need to stay updated with the rates. If you don't have an answer to a question allow other person who does respond.

I hate when you make people feel unease here for asking questions, you do sometimes ask this particular question but when others do, you want to question their intelligence.

Kindly find the results below.

yinkaoke:
Goodday great people. Anyone with last tbills auction results please?

God bless @Skydiver01

Brainbox0806:


Your question is not innocent but annoying, you were not asked any question so why didn't you simply look away. This is a treasury bill thread and we need to stay updated with the rates. If you don't have an answer to a question allow other person who does respond.

I hate when you make people feel unease here for asking questions, you do sometimes ask this particular question but when others do, you want to question their intelligence.

Food for thought

yinkaoke:
God bless @Skydiver01

Your account officer or relationship manager is in the best position to give you the latest updates about your Treasury Bill Investments.

If they don't give such updates, I will suggest you do business with Stanbic IBTC Bank.

You are welcome.

yinkaoke:
God bless @Skydiver01

LordAdam16:


Interestingly, this offshoring and H1B1 visa onshoring causes a substantial downward pressure on wages that essentially stops it from spiking. Also, it enables these economies to tap top talent regardless of location at the detriment of less developed economies. Further perpetuating a hierarchical global economic system where the rich countries have a monopoly on high-value products and services; middle-income countries thrive on labor-intensive, environmentally-unfriendly products of low- to- average economic value (what development economists call the middle-income trap); and poor countries have to forever rely on aid to balance budgets.

I like this!

I used to think that Western nations with lax migration rules were helping folks from less developed nations. Not anymore. I've come to see that those nations benefit more from migration than the migrants themselves who are emigrating.

The birth rate in most Western nations has been on a rapid decline well into unsustainable levels. With more people getting older and hence relying on public funds rather than paying taxes, they know that to sustain a vibrant economy, they need to fill up those numbers and do so quickly hence they go shopping from other nations. It's much more difficult to raid fello developed nations hence they turn to poorer ones. But then, the catch is that they want to get the best heads from those nations not just anyone. This is how their migration policies are crafted- not just a lottery.
This to me was the centre of Brexit... Not that Brits didnt necessarily want foreign folks, but they wanted to have that control. Even China has very much relaxed its one child policy and now aiming for three.

The next wave of colonialism if allowed would not be fuelled by the pursuit of natural resource but the pursuit of human resource from developing nations who can blend into the middle class of developed nations

Take Canada for example, only Nigerians of a set calibre can fit their criteria. These are usually upper middle class Nigerians. When they emigrate, they have to act well and be on the right side of the law for some years before full documents are given. Also, for most nations, one can't access public aid for those years, most folks would have to work, pay taxes and most times get some educational qualifications. The whole process is like a life school built in a way that they get the best who can pay their dues initially. This is why most folks who emigrate there legally are usually doing well for themselves in 5-10 years...


The downside for the poorer nations is the fact they nations don't develop by losing their best heads- except they have a way of bringing them back later on which Nigeria currently lacks. Saving grace is that these folks remit forex back home which has been what has sustained the naira in recent years...


Although it's not always black and white, I side more with this being a form of colonialism. Nigeria can barely build her human capital, whereas, richer nations come and seive the best.... This can be only turned around by having some form of reintegration.

ositadima1:
On a serious note, these headlines though:

"e-Naira offers cheaper, fast remittance option, says CBN" - Punch Newspaper

"eNaira would boost diaspora remittance flows – CBN" - Nairametrics

And a few others. Now, how is this so? I am not saying e-Naira has no potential, but how is it going to boost remittances?

So far, it just looks to be another payment gateway which it doesn't excell at.

What I don't like is having to input the wallet login details into a third-party banking app to top up... That in itself is a security flaw waiting to be breached.

It's still early days but if the current wallet is their vision of what a cbdc should be, then the CBN is more deluded than I thought. They should have just kept calm and let other nations issue theirs so they copy...

jedisco:


So far, it just looks to be another payment gateway which it doesn't excell at.

What I don't like is having to input the wallet login details into a third-party banking app to top up... That in itself is a security flaw waiting to be breached.

It's still early days but if the current wallet is their vision of what a cbdc should be, then the CBN is more deluded than I thought. They should have just kept calm and let other nations issue theirs so they copy...

I created the wallet account, never loaded it. It looks like more work need to be done.

I absolutely agree with your first three paragraphs but not the fourth (bolded). Nigeria can build its human capital by redirecting stolen/pilferaged funds from education, health and infrastructure (roads, electricity etc) annual national budgets. Integration with foreign nationals has been among us in Nigeria since and before independence and Nigerians have by and large chosen a path of pilferage and corruption simply because of greed. This has also continued to increase the poverty rate of the masses over the last four or five decades.

This is what has led to our national development regressing perhaps 100 years. The quickest solution is to introduce capital punishment (death by immediate execution) for all crimes including simply running a red traffic light for a period of just 2 to 3 years and you will see that Nigerians will sit up and immediately choose to do what is right in all spheres of our society. Corruption and uncivilised behaviours by Nigerians e.g. budget padding, bribery, jumping queues, turning two lane roads into four lanes by impatient motorists, Government agency civil servants not providing services to the public until they are bribed etc etc will all disappear and then Nigeria will start to function and become a developed nation within a super short period of time. All Nigerians know the right things to do but most have been choosing the wrong things to do for decades because of their greed and rent seeking mentality (the desire to make disproportionate profits or illegitimate gains for not providing any product or service (scams/theft) or at best very substandard services and products - this also applies to public healthcare, education and all infrastructure).

You will be amazed that so many contractors have over many years been paid large sums by the government for capital projects such as hospital, roads etc etc and they all built none because the wheels of justice not only turns slowly in Nigeria but is in itself also corrupt. So these idiot contractors are living large out there with these cases in courts for years with no justice in sight while we end up having no good public hospitals, schools, roads, pipe borne water, electricity etc etc.

The introduction of capital punishment is what has made China and Singapore what it is today. I will go as far as including Dubai, other UAE countries and Saudi Arabia.

When even just 60% of every service that improves the quality of life for all Nigerians begin to work in Nigeria, no one will want to leave, the Naira will gain in value and Nigerians abroad will even choose to relocate back to Nigeria. The justice system will be reformed and capital punishment can then be phased out or simply applied to the most serious of crimes like in some states in the US.

I assure you Nigeria can work and develop. But it will not develop if Nigerians, who know the right things to do are not forced to do them.

The link below is a reminder that not so long ago, foreign students used to come to attend courses and programs at Nigerian Universities to attain Bachelor and Master degrees because of the quality of our education system. So, Nigeria can be made to work and work beautifully.

https://www.ui.edu.ng/internationalstudents

jedisco:


Although it's not always black and white, I side more with this being a form of colonialism. Nigeria can barely build her human capital, whereas, richer nations come and seive the best.... This can be only turned around by having some form of reintegration.

Sho…una don turn this thread to essay competition. Who get time to read all this senseless yamayama epistles? Abi all of una dey ment?

LordAdam16:


No b everybody head fit carry am.

That is the crux of the issue. In that same US, this year, several major investment houses bumped the starting pay for first-year analysts to $100,000+. https://www.bloomberg.com/news/articles/2021-08-02/goldman-sachs-bumps-junior-banker-pay-aligning-with-rivals

Amazon employs some 1.4 million people. But while some are being paid $15/hr working soul-crushing, back-breaking warehouse jobs where they have to pee in bottles; others are being paid 80/hr with generous benefits as software engineers for their AWS platform.

Not everyone has the cognitive ability to become a neurosurgeon, $500/hr attorney, investment banker, or developer. The Bell Curve is a pictorial representation of why that is the case. The vast majority of people will work average service and industrial jobs of middling economic value.

Unfortunately, inflation has outstripped wage growth. So the low-skilled, low-wage jobs that used to be manageable in the heydays of American exceptionalism just after WW2 are now grossly insufficient. Cue the left-wing politicians, social commentators, think-tanks and non-profits, and grifters preying on these displeased horde of worker bees by convincing them higher taxes on high earners will be the magic wand.

Because heaven forbids you tell a single mom no one will pay her $40/hr to wait tables as it makes no economic sense, regardless of how stressful the job is or how high her bills are stacked. The human thing to do when your skillset is incapable of acquiring the resources you need and want is to forcefully take and redistribute from those who in your opinion have more than enough. When you can't do it, you lend your support to the mob, politician, or political party that promises to do so on your behalf.

That is the entire 21st century Western labor debate and origin story of "Tax the Rich" slogan in a few paragraphs.

Meanwhile, uninformed suffering-and-smiling merchants in third-world sh*tholes think that validates their assertion that because they're miserable and can't even boast of uninterrupted power supply in a corrupt, nighmarish hellscape where life is ridiculously cheap and laws are mere suggestions, that means everyone is miserable elsewhere.

When all is said and done, over the next few centuries, the Western elite are going to have robots do most of the thankless, unskilled and low-skilled jobs; have a well-paid professional class keep things running smoothly; and place the average Joe and Jane on a blend of welfare packages comprising Universal Basic Income, Unemployment Benefits, Child Credit, free necessities (education, health care) et cetera.

Already, France has an annual federal budget of circa €650 billion but spend a whopping €500 billion on welfare across all levels of government. This is in a country of 68 million people where more than 50% of the population do not pay income tax.

-Lord

Intresting submission.

Labadi69:
Sho…una don turn this thread to essay competition. Who get time to read all this senseless yamayama epistles? Abi all of una dey ment?

Funny enough I don't soak sote I no dey see road well, but me still agree with you, d epistles plenty. I no fit read all that shit not now, not even when I am sober.

ositadima1:


Funny enough I don't soak sote I no dey see road well, but me still agree with you, d epistles plenty. I no fit read all that shit not now, not even when I am sober.

My message to you sinners: Stop collecting agunje, stop collecting bribes, follow due process, d process was made for a reason!

People who know that thing pass u made d process.

I no fit understand why someone who collects bribes or pays bribes to thwart the system should be complaining that the system no work. No be alabanko be that?

Labadi69:

Na Hero be my brand bro, just saying...

ositadima1:


Na Hero be my brand bro, just saying...

jedisco:


So far, it just looks to be another payment gateway which it doesn't excell at.

Tbh I'm peeved about the whole development process, but the rollout plan is actually quite solid, eNaira would be great for getting dollars out of the hands of the black market. Nigerian expat boomers would eat this shit up, it's a safe and direct way to send USD from a domicilary account to someone in Nigeria without added costs.

I just wish they'd rollout the actual blockchain sooner, their lead developer said they've been working on an app that doesn't require a bank account, that should be the REAL app, with that you can expect sending and receiving from MOMO accounts since MTN is getting complete approval soon.

But even with that eNaira won't see mass adoption, since the government can just freeze your account on suspicion of money laundering or trading crypto.

ElixExo:

Nigerian expat boomers would eat this shit up, it's a safe and direct way to send USD from a domicilary account to someone in Nigeria without added costs.

How is this so? To load a domiciliary account from outside Nigeria, one has to follow the same existing but expensive means.

Except the e-Naira gets listed on major crypto exchanges, only then would it make remittance easy. I don't see that happening, e-Naira is not particularly appealing for obvious reasons.

Maybe, one way would be for the government to open exchange outlets within its embassies all round the world.

skydiver01:
I absolutely agree with your first three paragraphs but not the fourth (bolded). Nigeria can build its human capital by redirecting stolen/pilferaged funds from education, health and infrastructure (roads, electricity etc) annual national budgets. Integration with foreign nationals has been among us in Nigeria since and before independence and Nigerians have by and large chosen a path of pilferage and corruption simply because of greed. This has also continued to increase the poverty rate of the masses over the last four or five decades.

This is what has led to our national development regressing perhaps 100 years. The quickest solution is to introduce capital punishment (death by immediate execution) for all crimes including simply running a red traffic light for a period of just 2 to 3 years and you will see that Nigerians will sit up and immediately choose to do what is right in all spheres of our society. Corruption and uncivilised behaviours by Nigerians e.g. budget padding, bribery, jumping queues, turning two lane roads into four lanes by impatient motorists, Government agency civil servants not providing services to the public until they are bribed etc etc will all disappear and then Nigeria will start to function and become a developed nation within a super short period of time. All Nigerians know the right things to do but most have been choosing the wrong things to do for decades because of their greed and rent seeking mentality (the desire to make disproportionate profits or illegitimate gains for not providing any product or service (scams/theft) or at best very substandard services and products - this also applies to public healthcare, education and all infrastructure).

You will be amazed that so many contractors have over many years been paid large sums by the government for capital projects such as hospital, roads etc etc and they all built none because the wheels of justice not only turns slowly in Nigeria but is in itself also corrupt. So these idiot contractors are living large out there with these cases in courts for years with no justice in sight while we end up having no good public hospitals, schools, roads, pipe borne water, electricity etc etc.

The introduction of capital punishment is what has made China and Singapore what it is today. I will go as far as including Dubai, other UAE countries and Saudi Arabia.

When even just 60% of every service that improves the quality of life for all Nigerians begin to work in Nigeria, no one will want to leave, the Naira will gain in value and Nigerians abroad will even choose to relocate back to Nigeria. The justice system will be reformed and capital punishment can then be phased out or simply applied to the most serious of crimes like in some states in the US.

I assure you Nigeria can work and develop. But it will not develop if Nigerians, who know the right things to do are not forced to do them.

The link below is a reminder that not so long ago, foreign students used to come to attend courses and programs at Nigerian Universities to attain Bachelor and Master degrees because of the quality of our education system. So, Nigeria can be made to work and work beautifully.

https://www.ui.edu.ng/internationalstudents

Lol…Death Sentence to all offenses, Even for bypassing queues. Brutally said but it is the truth, it isn’t possible though cause if it is…99% of our leaders heads must roll. Corruption is really the cause of our Problem.

Yes corruption is a major problem. Nigeria will get to the point when the masses will say enough is enough (I really do not know when. I hope soon). It has happened in many countries. Many political leaders in China were executed because the Chinese reached the point were they said enough is enough to corruption. In fact the death penalty for bribery or any corrupt act in China for all Chinese citizens is still currently in place and some other countries too. If 99% of our leaders are corrupt, that is not a reason the death penalty cannot be implemented. It would also apply to all Nigerians not just political leaders. This nation requires a clean out of bad leaders and citizens. For example, Ghana is where it is today because of the bold actions of Jerry Rawlings. In fact, you will be surprised that by simply introducing capital punishment for all crimes, current leaders and many citizens, even in the private sector, will not only change their behaviour but also start returning stolen funds to avoid being executed.

Nigeria will not develop without radical actions that have been successful in other countries that faced high levels of corruption in the past. Today, these countries are all developed nations.

Neverlosemoney:

Lol…Death Sentence to all offenses, Even for bypassing queues. Brutally said but it is the truth, it isn’t possible though cause if it is…99% of our leaders heads must roll. Corruption is really the cause of our Problem.

ositadima1:


How is this so?

jedisco:

how would someone in diaspora remit funds using enaira?

>Live Abroad
>Get money in USD
>Put it in your Nigerian Domicilary account
>Use mobile banking to move it to your eNaira
>Send it to other eNaira user
>Other eNaira User Cashes out in Naira at bank rate

Not hard to understand really.

jedisco:

The process of remittance used to be straightforward

CBN ruined my CEX, and if their eNaira doesn't fix it they can forget about that 10% capital gains tax cuz I ain't cashing out to a Nigerian bank. Bitpay and other sites let you use your crypto as mastercard funds.

skydiver01:
I absolutely agree with your first three paragraphs but not the fourth (bolded). Nigeria can build its human capital by redirecting stolen/pilferaged funds from education, health and infrastructure (roads, electricity etc) annual national budgets. Integration with foreign nationals has been among us in Nigeria since and before independence and Nigerians have by and large chosen a path of pilferage and corruption simply because of greed. This has also continued to increase the poverty rate of the masses over the last four or five decades.
....

You've raised some points...
I agree, alot can be done to cut corruption and channel it towards education so as to build capacity. That said, there should be a means of retaining some of the bright heads too or bringing them back after they've relocated as it takes years to build such capacity. Take a doctor or nurse for example. You're not going to replace them overnight... Even developed nations find it easier and cheaper to raid developing nations to fill up such roles than build capacity to train their citizens from scratch.

OTOH, I don't agree with capital punishment or excessive highhandedness for minor crimes. There are modern and reliable ways to deter people from social vices. Fines and even prison sentences do more in turning the society around than death sentences.
Making traffic offenders pay fines and go through a retraining process or suspend their license will be more cheaper and effective than severe punishment.
You wouldn't want to live in a country that kills folks for skipping traffic lights.. If Nigeria legally kills her citizens for such, then that'd further degrade us in the eyes of the world.

ositadima1:


I created the wallet account, never loaded it. It looks like more work need to be done.

Aside early teething issues, the app is slick amd does work. It's still bare bones at this stage....
But if they intend to keep it this way, it'd definitely not deliver on anything they promised....

As of now, it's just another payment gateway. Kuda and others are much easier to use than enaira wallet...

Kuda is really slick and easy to use. Folks would naturally get more needs comfortable using it as time goes on. They could move forward and start offering some safe investment options e.g TB's or bonds inside the app. Right now, they have a savings tab with reasonable rates

ElixExo:

Tbh I'm peeved about the whole development process, but the rollout plan is actually quite solid, eNaira would be great for getting dollars out of the hands of the black market. Nigerian expat boomers would eat this shit up, it's a safe and direct way to send USD from a domicilary account to someone in Nigeria without added costs.

I just wish they'd rollout the actual blockchain sooner, their lead developer said they've been working on an app that doesn't require a bank account, that should be the REAL app, with that you can expect sending and receiving from MOMO accounts since MTN is getting complete approval soon.

But even with that eNaira won't see mass adoption, since the government can just freeze your account on suspicion of money laundering or trading crypt0.

Money is like water.... It follows the least path of resistance.

A while back, CBN blocked all remittance companies abroad and made remittances go through a strenuous process. End result was that remittances dropped to record lows. Folks resorted to using crypt0 either directly or indirectly. Some of the foreign remittance companies ditched the CBN regulation and continued with their previous straightforward remittance simply because they couldn't lose income from Nigerians who formed a bulk of their base.

The process of remittance used to be straightforward for most Nigerians in diaspora. Simply put, a person sets up an online account with the company, pay into a designated account and within minutes the sum is reflected in ones Nigerian account using market rates.

If the new process by the CBN isn't easier or at least equivalent, it'd fail. Simply because money follows the path of least resistance

All said, as currently implemented, how would someone in diaspora remit funds using enaira?