The Nigerian financial intelligence unit will be empowered via act of legislation to snoope on accounts of major importer of contraband and currency dealer/bdc ...

And if the travellers coming into Nigeria hold foreign currency ATM cards, they should be dragged to the nearest Nigerian ATM and monitored while they withdraw all the cash and convert it to Naira.

ahiboilandgas:
All travellers into Nigeria holding in excess of 2000 dollars must exchange at bdc in airports and boader post .....law breaker will be treated as economic sabotures and waging a war against the Naira and the Nigeria state...

Comeandcollect:
And if the travellers coming into Nigeria hold foreign currency ATM cards, they should be dragged to the nearest Nigerian ATM and monitored while they withdraw all the cash and convert it to Naira.

Comeandcollect:
And if the travellers coming into Nigeria hold foreign currency ATM cards, they should be dragged to the nearest Nigerian ATM and monitored while they withdraw all the cash and convert it to Naira.

foriegn atm card ? They dont pay dollars in Nigeria atms but naira....so no dragging any where...

If u come with a foreign atm u withdraw in Nigeria atms u get naira ...if u travel aboard using naira atm u withdraw in dollars....... Nigeria students travelling to mushroom nations and unaccredited and useless university in benin republic,sudan,ghana ,malaysia,Philippine and other substandard nations will hence forth not be funded via form A ....student travelling to western europe ,north America and Australia plus south africa will be funded ....student travelling to cyprus ,Egypt and co can be funded if studing a research degree in sciences,engineering,medicine...

ahiboilandgas:
If u come with a foreign atm u withdraw in Nigeria atms u get naira ...if u travel aboard using naira atm u withdraw in dollars....... Nigeria students travelling to mushroom nations and unaccredited and useless university in benin republic,sudan,ghana ,malaysia,Philippine and other substandard nations will hence forth not be funded via form A ....student travelling to western europe ,north America and Australia plus south africa will be funded ....student travelling to cyprus ,Egypt and co can be funded if studing a research degree in sciences,engineering,medicine...

Sir, this is Nigeria, some of the things you are suggesting will NEVER work. You read that right. NEVER work.

The giant Elephant in the room..."corruption" will not allow most of these work....let's face reality.
The state is in limbo.

Leezah:
Sir, this is Nigeria, some of the things you are suggesting will NEVER work. You read that right. NEVER work.

They will not work because the beneficiaries are the leaders, politicians and the law makers. So they will never allow such laws. A friend of mine always say that democracy is not for developing countries like Nigeria and other Africa countries.

You need a 'mad' man to come in and clean up this mess with strong arm. Who no gree obey should be sent to Sambissa forest with a bag of dollars to spend there.

Cyberknight:
CBN should remove the layer of middlemen in forex transactions.

Why on earth should one be required to "go and source physical dollars" before making a transaction abroad? In serious countries, you just go to your bank and the transfer abroad is executed from your local currency account using the prevailing exchange rate, and subject to any exchange controls or caps. In the same way the banks allowed customers monthly limits for foreign transactions using debit cards (up to $3,000 in most cases), the same should apply to forex transfers.

It's simple. Just bring Nigeria in line with other civilised countries and eliminate the "officialised" component of the parallel market at least. Foreign exchange accounts limited only to those who can show their businesses require one. All other transfers from abroad credited into local currency accounts at prevailing rates. Foreign currency policies should be liberalised first to allow free convertibility of the naira not just for Form A and Form M users.

As someone has pointed out, the so-called "free market" will always find ways to get around these rules and that is true, but the point is that the government itself should not be undermining its own currency management by allowing such wide latitude for speculators and ordinary people to lawfully engage in conduct that harms the local currency.

The bolded is the real solution.

Add some articulately planned production boosting policies, problem solved , but they won't do it.

Is it not our country that People were travelling by flight during Covid 19 lockdown, Oga Ahib We need a paradigm change in the leadership of the country...... Politics always preceeds economics

emmanuelewumi:



The guy needs to be encouraged, little drops of of water makes the big ocean, a journey of a thousand mile starts with a step.

Slow and steady wins the race, the most important thing is consistency. Waiting for the right time or reasonable fund will lead to procastinaton.

Procastinaton is the thief of time. We all know that time is more valuable than money

My post was not a discouragement at all.

Anyone who advice him to do fix income with his 100k knowing fully well he is only going to make around 6k or less in a whole year (or ₦20 daily with vgif), is not being nice to him.

Cyberknight:


No difference between hire purchase and other forms of partner-owner relationships if you get a bad driver.

More reason why he should ensure he gets a good and reliable driver.

A family member, old classmate, neighbour etc....but proper DD must be done before giving the vehicle out.

Leezah:
The italics sums up what I am saying. You have not seen people run a away with Okada even with signed agreements. I repeat he should drive it himself.

People can only run away with your vehicle or okada if the proper safety measures are not taken. Starting with background checks, provision of genuine guarantor, working with people you already know (family, old classmate, church member, neighbour) etc. are some things that people must consider to protect their investments.

FYI, no business is risk free. You either minimize the risk or your exposure.

Leezah:
Sir, this is Nigeria, some of the things you are suggesting will NEVER work. You read that right. NEVER work.

I have been following your comments.

Truly, you have a CLOSED MIND.

This is not good for your own development.

I believe anything and everything is possible.

NL1960:


They will not work because the beneficiaries are the leaders, politicians and the law makers. So they will never allow such laws. A friend of mine always say that democracy is not for developing countries like Nigeria and other Africa countries.

You need a 'mad' man to come in and clean up this mess with strong arm. Who no gree obey should be sent to Sambissa forest with a bag of dollars to spend there.

That is what the BUTCHER OF EAST AFRICA called President Kagame of Rwanda is doing, I visited in one of my vacation trips, he holds koboko laden with chilly pepper to flog shege comot from Rwandanese citizens body, no wonder corruption is on its lowest ebb or not openly noticeable,


Nigeria needs a Kagame to get the country moving, Rwanda is the cleanest country in Africa, security is top notch, street fighting attracts 6months imprisonment, Adultery Na 7 years, stealing government money, just flee Rwanda or else Kagame will butcher you, you can walk the streets of Rwanda 24 hours and you are absolutely safe.

My only problem with Kagame is you are not allowed to speak against him nor critique his government and he is more like an Emperor of the country other than that, he is trying, Nigeria needs a koboko welding leader like Kagame, the pictures below is what Kagame does to stubborn Rwandanese citizens

kintus:


I have been following your comments.

Truly, you have a CLOSED MIND.

This is not good for your own development.

I believe anything and everything is possible.

@Enyinne, GAZZUZZ, @carshopper.

You people should come and share your Uber experience with this brother.

Man, it's good to be optimistic. But unrealistic optimism will get your fingers burnt badly.

Apart from those driving their own car, it's very very rare to see someone that has done Uber business consistently for 2 years.

AngelicBeing:
That is what the BUTCHER OF EAST AFRICA called President Kagame of Rwanda is doing, I visited in one of my vacation trips, he holds koboko laden with chilly pepper to flog shege comot from Rwandanese citizens body, no wonder corruption is on its lowest ebb or not openly noticeable,


Nigeria needs a Kagame to get the country moving, Rwanda is the cleanest country in Africa, security is top notch, street fighting attracts 6months imprisonment, Adultery Na 7 years, stealing government money, just flee Rwanda or else Kagame will butcher you, you can walk the streets of Rwanda 24 hours and you are absolutely safe.

My only problem with Kagame is you are not allowed to speak against him nor critique his government and he is more like an Emperor of the country other than that, he is trying, Nigeria needs a koboko welding leader like Kagame, the pictures below is what Kagame does to stubborn Rwandanese citizens

Smh! That Kagame approach can never work here.

Remember, the entire Rwanda may not be up to the size of ogun state.

RavagedHeart:


I've learnt in pains. I thought I was being nice, didn't know I was heading into a suicidal situation.

Any investment advise that I can start up with just 100k ?

Good afternoon sir.

Before you invest you need to save.
Why not install Our Ziing mobile app setup a Zplan Goal and build that 100K to maybe 300K or more depending on you.

The Zplan also Reward you for saving.

Unlocked goals.
0 – 60 days (1 – 2 months) – 4%
61 – 180 days (2 – 6 months) – 6%.
181 – 365 days (6 – 12 months) – 7.5%
Above 365 days (1 year and above) – 9%

Locked Goals.
0 – 60 days (1 – 2 months) – 4.5%
61 – 180 days (2 – 6 months) – 6.5%.
181 – 365 days (6 – 12 months) – 8%
Above 365 days (1 year and above) – 10%

Start small now and grow your wealth over time.

I hope it’s not coming late.

And lastly Avoid Anything “ with high ROI.”

Grupo:


@Enyinne, GAZZUZZ, @carshopper.

You people should come and share your Uber experience with this brother.

Man, it's good to be optimistic. But unrealistic optimism will get your fingers burnt badly.

Apart from those driving their own car, it's very very rare to see someone that has done Uber business consistently for 2 years.

My brother,. E no easy ... This is my 3rd year running Uber business ...ups n downs

Grupo:


Smh! That Kagame approach can never work here.

Remember, the entire Rwanda may not be up to the size of ogun state.

Not true at the bolded and not relevant at the italicised.
Nigerians are a very docile people, since we tolerate, accept and make excuses for bad government, why won't we tolerate good government similarly forced upon us?

Cyberknight:


Not true at the bolded and not relevant at the italicised.
Nigerians are a very docile people, since we tolerate, accept and make excuses for bad government, why won't we tolerate good government similarly forced upon us?

A bit of homogeneity has to be in place for something like that to work.

Rwanda, to the best of my knowledge has like two ethnic groups. Nigeria has close to 500 both major and minor.

From which ethnic group is this so called good dictator going to come from?

If he comes from X ethnic group, those from Y will start sabotaging his efforts and vice versa.

Grupo:


A bit of homogeneity has to be in place for something like that to work.

Rwanda, to the best of my knowledge has like two ethnic groups. Nigeria has close to 500 both major and minor.

From which ethnic group is this so called good dictator going to come from?

If he comes from X ethnic group, those from Y will start sabotaging his efforts and vice versa.

The point of being a dictator is that your power is supreme and supersedes such considerations.
Abacha, for instance, held Nigeria in his grip until his death.

Carshopper:


My brother,. E no easy ... This is my 3rd year running Uber business ...ups n downs

How many car did you start with?

How many do have now have in your fleet?

What was the seed capital used in starting the business?

Have you being ploughing back your profits for the expansion, used additional external equity or debt, or you used a combination of retained earnings plus additional equity or debt for the expansion?


What is the average growth rate in the last 3 years?

What is the average profit margin per annum after making provision for depreciation?

What is the average useful years of the cars in your fleet?

Can the amount set aside for depreciation over the useful years of the cars, buy another car for replacement?

emmanuelewumi:



How many car did you start with?

How many do have now in your fleet?

What was the seed capital used in starting the business?

Have you being ploughing back your profits for the expansion, used additional external equity or debt, or you used a combination of retained earnings plus additional equity or debt for the expansion?


What is the average growth rate in the last 3 years?

What is the average profit margin per annum after making provision for depreciation?

What is the average useful years of the cars in your fleet?

Can the amount set aside for depreciation over the useful years of the cars, buy another car?

Questions I have answered in d Uber hailing thread

Carshopper:


Questions I have answered in d Uber hailing thread

Really.

You should be able to answer the questions in less than 5 minutes.


This is a thread where we discuss different Investment opportunities and then make informed decisions from the discussions

emmanuelewumi:


Really.

You should be able to answer the questions in less than 5 minutes.


This is a thread where we discuss different Investment opportunities and then make informed decisions from the discussions

You asked 8 KEY questions that makes or break an investment and seek a 5mins answer

This is common sense.

Grupo:


A bit of homogeneity has to be in place for something like that to work.

Rwanda, to the best of my knowledge has like two ethnic groups. Nigeria has close to 500 both major and minor.

From which ethnic group is this so called good dictator going to come from?

If he comes from X ethnic group, those from Y will start sabotaging his efforts and vice versa.

Grupo:


Smh! That Kagame approach can never work here.

Remember, the entire Rwanda may not be up to the size of ogun state.

The size of a country does not determined how citizens complies with laid down rules and regulations, China is bigger than Nigeria, although a brutal regime but you can read what is going on in China, US is bigger than Nigeria in population even though we Nigeria claims to practice the same democracy like that of the US but the US is working but Nigeria is in auto _reverse

Nigeria needs a Kagame / Chinese kind of leadership with koboko to punish offenders or a Middle Eastern kind of leadership other than that, Nigeria will likely continue to go in cycles, back to my silent reading mode

Leezah:
As a business person DIY first know the nitty gritty about everything involved.

Of course but not necessarily in this case. You don't need to drive if you know how e-hailing works and operates unless you have not done your research, inquired or you just have the time to drive anyways to know how it works.

Besides, the problems and experience you mentioned earlier is what we are trying to profer solutions to before one test the waters.

kintus:


I have been following your comments.

Truly, you have a CLOSED MIND.

This is not good for your own development.

I believe anything and everything is possible.

Sir, how do I gave a close mind? I believe everything and everything is possible too I am a realist.

kintus:


People can only run away with your vehicle or okada if the proper safety measures are not taken. Starting with background checks, provision of genuine guarantor, working with people you already know (family, old classmate, church member, neighbour) etc. are some things that people must consider to protect their investments.

FYI, no business is risk free. You either minimize the risk or your exposure.

Strike out church members there they are the worst culprit. Yes boss.

AngelicBeing:
The size of a country does not determined how citizens complies with laid down rules and regulations, China is bigger than Nigeria, although a brutal regime but you can read what is going on in China, US is bigger than Nigeria in population even though we Nigeria claims to practice the same democracy like that of the US but the US is working but Nigeria is in auto _reverse

Nigeria needs a Kagame / Chinese kind of leadership with koboko to punish offenders or a Middle Eastern kind of leadership other than that, Nigeria will likely continue to go in cycles, back to my silent reading mode

That's where you go wrong. The problem is not Nigerians. Most Nigerians travel out and automatically start doing better than they were in Nigeria. What actually changed? Think about it.