₦airaland Forum

awesomeJ:
I don't think the system would collapse though.

People who would hoard their dollars at home or ship them abroad are thesame ones that are currently holding them idly in Dom accounts. So net difference is near zero.

However there's ba good chance that a number of them would not be comfortable with those options of keeping millions at home or smuggling cash out, so they'll just give up.

Every country who tried it collapsed

What makes you think Nigeria case will be different?

ahiboilandgas:
who looted the 200m euro for national identity in 2002 Nigerian abi german

Who will bring him to justice?

Whilst i agree with most of your thoughts, i simply don't agree with the fact that the government is doing enough.

ahiboilandgas:
the nepa offical are the once doing by pass for people for a fee ...then nepa offiials come for inspection if caught they will collect their share ....who wil enforce this Ghanaians abi.

O boy!

Oga, I doubt if he will be able to really come out with anything, the only wrong turn is that PMB was bold enough to win the 2015 and 2019 elections. Na just there the anger de.

awesomeJ:
What that wrong turn? -i'm asking as wanting to know.

I don't like blame games, but i think the reserves at 2014 should have been over $100bn if previous governmentS had handled our FX resources well enough.

Do you know that America still jail her citizen 100 years because of corruption, when was the last time someone was jailed 10years in Nigeria because of corruption?

ahiboilandgas:
who looted the 200m euro for national identity in 2002 Nigerian abi german

XiaoLi:
Do you know that America still jail her citizen 100 years because of corruption, when was the last time someone was jailed 10years in Nigeria because of corruption?

i dont know am working with the corruptions index of each country

9jatriot:
Oga, I doubt if he will be able to really come out with anything, the only wrong turn is that PMB was bold enough to win the 2015 and 2019 elections. Na just there the anger de.

cos dollars was already 280 before jonathan hand over and reserve was 23 billion dollars....what magic could they have done..sell Nigeria stake in Nlng for 15 bn dollars to shore up the currency....

XiaoLi:
That is where the government comes in, in a country that works nobody is ever bigger than the government..it is only in a country like Nigeria you will hear this kind of stories and excuses why the person that bypass his meter and the accomplice cannot be tamed due to government failure.

Oga please ask them.

How come MTN, GLO,Airtel are not bypassed.

They are sounding as if these things are rocket science.

awesomeJ:
O boy!

my partner stood as surty for a transporter and he stole/diverted 2 trucks of pms worth 12.5m .....the men in black are demanding 10 percent of recovered sum at their cut .....the Nigeria lawyer is advising him to accpet and also fund the expense of the operation......both lawyer and the men in black and the theif are all Nigerians ..no American dey.

DexterousOne:
This is precisely my point


When you create incentive for corruption

Corruption MUST THRIVE

I agree with you on this.

Now the CBN can only tackle the aspect that is within its reach, and that's what it's doing

Nigsrdumb:
Who will bring him to justice?

Whilst i agree with most of your thoughts, i simply don't agree with the fact that the government is doing enough.

We are the government. People in government are products of our society, culture, values and orientation.

People get the leaders they deserve

emmanuelewumi:
We are the government. People in government are products of our society, culture, values and orientation.

People get the leaders they deserve

Exactly sir, when a Nigerian enters abroad he needs three documents to function.

Passport, tax id , proof of address.

All these documents are very effective in monitoring crime, be it criminal or tax evasion, also essential for developmental planning.

Any government that can get this right is on the path of fixing Nigeria.

Eg you commit a crime, your details go on a public register.

However data needs to be used in a synergistic way for it to work.

The monitoring and control must be taken out of the hands of ordinary people and left in the hands of ai.

Look at how China is using data to encourage good behaviour.

DexterousOne:
Huh

I have nothing to say to you on this, if I have to spell out the wrong turn

No now, you can't just come and talk about a wrong turn and not tell us what it is now.

Personally, I don't appreciate the huge debts this government has amassed. it's just not healthy.

is that the wrong turn you're referring to?

emmanuelewumi:
We are the government. People in government are products of our society, culture, values and orientation.

People get the leaders they deserve

end of discussion.......4000 Nigerian travel to dubai with over 500,000 Nigerian atm card to withdraw our foreign exchange for round tipping untill the cbn blockd cards working in middle East cos of ease of getting visa.....this group withdrawn 2 bn dollars from Nigeria reserve within 4 months.......Nigerians are not normal citizens.....one was caught with 2500 atms recently

ahiboilandgas:
end of discussion.......4000 Nigerian travel to dubai with over 500,000 Nigerian atm card to withdraw our foreign exchange for round tipping untill the cbn blockd cards working in middle East cos of ease of getting visa.....this group withdrawn 2 bn dollars from Nigeria reserve within 4 months.......Nigerians are not normal citizens.....one was caught with 2500 atms recently

2500 cards for one person?

Na wah!

Inspite of all of these measures, Nigerians still find a way to circumvent their laws.
Ever wondered why Nigerians are no longer welcomed in Thailand, Singapore, Malaysia, recently Dubai and many other non-first tier nations?

The guys caught in US involved in crime by the FBI were supposed to be in a country where they had escaped the problems of Nigeria, yet the Nigerian in them did not wait long to exhibit itseelf

Nigsrdumb:
Exactly sir, when a Nigerian enters abroad he needs three documents to function.

Passport, tax id , proof of address.

All these documents are very effective in monitoring crime, be it criminal or tax evasion, also essential for developmental planning.

Any government that can get this right is on the path of fixing Nigeria.

Eg you commit a crime, your details go on a public register.

However data needs to be used in a synergistic way for it to work.

The monitoring and control must be taken out of the hands of ordinary people and left in the hands of ai.

Look at how China is using data to encourage good behaviour.

9jatriot:
Inspite of all of these measures, Nigerians still find a way to circumvent their laws.
Ever wondered why Nigerians are no longer welcomed in Thailand, Singapore, Malaysia, recently Dubai and many other non-first tier nations?

The guys caught in US involved in crime by the FBI were supposed to be in a country where they had escaped the problems of Nigeria, yet the Nigerian in them did not wait long to exhibit itseelf

Keyword here , they get caught.

Is there any hope for the future like this?! Govt say it is citizens that are at fault. Citizens say it is the fault of the Govt. Which way Nigeria??

And we don't even have a charismatic leader. There is a way you can be talking bullshit and people will believe because of how you present it and the force of your personality. Now most Nigerians do not have faith in the Presidency so why won't they hoard dollars? Why won't they japa to Canada? Some are even in Ghana under victimization.

Which way Nigeria o!

Get caught the day they started?
That is even beside the point, why are other nationals, even from poorer nations not looking to circumvent the laws in those places wherever they are>?

Nigsrdumb:
Keyword here , they get caught.

Nigsrdumb:
Keyword here , they get caught.

Another keyword: They're restricted from entering.

If those countries trusted that their systems would be good enough to tackle those funny Nigerians, they wouldn't have to ban visa issuances to them now.

You hear of snake!!! swallowing 36m, or one person having 2500 ATM cards like having access to 2000 bank accounts, and you still think this situation hasn't gone beyond normal.

Developed countries are "fearing" these Nigerians, so it's in place to think it's more about the people than a government system.

awesomeJ:
Another keyword: They're restricted from entering.

If those countries trusted that their systems would be good enough to tackle those funny Nigerians, they wouldn't have to ban visa issuances to them now.

You hear of snake!!! swallowing 36m, or one person having 2500 ATM cards like having access to 2000 bank accounts, and you still think this situation hasn't gone beyond normal.

Developed countries are "fearing" these Nigerians, so it's in place to think it's more about the people than a government system.

Busted out laughing with the snake comment.

I didn't argue against the fact that a huge percentage populace are fraudulent, the question is how does it stop.

I think systems can do that job, the government has work to do however it's just pipe dreaming since they themselves are criminals.

The unfortunate point we have been trying to make.

Nigsrdumb:
Busted out laughing with the snake comment.

I didn't argue against the fact that a huge percentage populace are fraudulent, the question is how does it stop.

I think systems can do that job, the (Nigerian) government has work to do however it's just pipe dreaming since they themselves are Nigerians criminals.

ahiboilandgas:
end of discussion.......4000 Nigerian travel to dubai with over 500,000 Nigerian atm card to withdraw our foreign exchange for round tipping untill the cbn blockd cards working in middle East cos of ease of getting visa.....this group withdrawn 2 bn dollars from Nigeria reserve within 4 months.......Nigerians are not normal citizens.....one was caught with 2500 atms recently

There will always be arbitrage. This arbitrage is only visible during dollar scarcity. You dont see the role of BDCs in all these. Despite the intervention in the market BDCs are still selling like nothing has changed.

Why should the cbn block cards working in the middle east?

Nigsrdumb:
Busted out laughing with the snake comment.

I laughed for close to 5 minutes when Ahib first wrote it.

awesomeJ:
I laughed for close to 5 minutes when Ahib first wrote it.

a leading senator chairman of the northern caucus of the apc said monkey took 80m contributed to runing the group...this are personal donations.....talkless if him see public funds.....

ahiboilandgas:
end of discussion.......4000 Nigerian travel to dubai with over 500,000 Nigerian atm card to withdraw our foreign exchange for round tipping untill the cbn blockd cards working in middle East cos of ease of getting visa.....this group withdrawn 2 bn dollars from Nigeria reserve within 4 months.......Nigerians are not normal citizens.....one was caught with 2500 atms recently

Correct.

Like I always say, there is nothing wrong with the land called Nigeria, there is nothing wrong with River Niger and Zuma Rock. The only problem with Nigeria is the kind of people inhabiting the land. Nigerians are a cancer to Nigeria. There is no major difference between the land Nigeria, and the land Canada. The only difference is that one is occupied by smart people while the other by stupid people.

Someone was telling me about a Nigerian that got a political position in Canada and made a statement "that he hopes, one day, Nigeria will start to reward merit". I told the person that I don't agree. Nigeria cannot reward merit, neither can Canada. These are just lands. It is the inhabitants of Canada, Canadians that recognize and reward merit. The inhabitants of Nigeria on the other hand, prefer nepotism. Nigerians do not recognize and reward merit, but you'll see Nigerians saying "Nigeria", trying to dissociate themselves from the problem.

Again, I'm usually shocked at how boastful Nigerians are. Someone up there said Nigerians are the most hardworking and honest people.... Lol.
Nigerians will claim they're the smartest, most intelligent, most hardworking people in the world. It's surprising how a people that cannot manufacture ordinary toothpick believe they're more intelligent than people that are traveling into space. People with productivity per capita of $2000 believe they're more hardworking than Americans, Japanese, Singaporeans with productivity per capita of $62000, $39000, and $64000 respectively. A country of 200Million of the "most hardworking and smartest individuals in the world" has a GDP of $400B, while a country of 35Million "less hardworking and less smart" Canadians have GDP of $1.7Trillion. Just 8.5Million Swiss people make GDP of $705B, far more than 200 million of the so-called "most hardworking and smartest individuals in the world". Dr Ola said on twitter that there's no evidence that for Nigerians being the most enterprising people, not when you have the Jews, Lebanese, Indians. You can even see their exploits here in Nigeria. According to these statistics, if anything, Nigerians are among the laziest, most unproductive and dumbest set of people in the world.

Nigerians will give excuse of "environment", saying the Nigerian environment is bad. The reason the Nigerian environment is bad is because Nigerians failed to build a good environment. The good environment in US, UK, China, Norway, Canada did not fall from heaven, it was built by Americans, Britons, Chinese, Norwegians, and Canadians respectively. Upon the good environment in the UAE, Malaysia and other countries, Hushpuppy and other Nigerians still go there to do rubbish. Hence, I'm not surprised Nigerians are being banned everywhere.

Excelling abroad ke? Nigerians just like to make noise. Did you know that among US immigrants, Nigerian American immigrants are not even among the top 60 in terms of median household income. The Indians, Chinese and co top that list. Even amongst Africans, South African Americans, Egyptian Americans and Ghanaian Americans earn more than Nigerian Americans (who actually earn less than the overall American average). Whatever you think Nigerians are doing abroad, others like the Indians, Chinese, Lebanese have done far far more. Just that Nigerians like to make more noise.

https://en.m.wikipedia.org/wiki/List_of_ethnic_groups_in_the_United_States_by_household_income

Next, they'll be pointless their crooked fingers at the leaders. And I ask, are the government not Nigerians, are the leaders not from amongst the people. All the looting politicians, all the SARS that are killing, that did not come from another planet, they are all from amongst the citizens. They are a microcosm, a cross-section of the citizens. They say they apple does not fall far from the tree. A multitude of demons cannot give rise to angels as leaders. Bad citizens will always give rise to bad leaders.


Nigerians are just a failure of a people, that's why Nigeria is the way it is today.

NB: I never said there are no hardworking, smart, intelligent Nigerians. I only said that these set of Nigerians constitute a very tiny minority of Nigerians, far less than 10%. And if 90% of a product is defective, it's fair to say the entire product is defective.

9jatriot:
Oga, I doubt if he will be able to really come out with anything, the only wrong turn is that PMB was bold enough to win the 2015 and 2019 elections. Na just there the anger de.

What makes you think I dont have what to respond to him?


I just chose not to....


This is not a Jonarhan Vs Buhari thread

But since you have brought it it up subtly

Let's address it

Jonathan had his failings

And him losing the elections in 2015 was not a bad

What was the bad thing
Was to vote a complete idiot like Buhari to replace him


We have so many technocrats in this country that would have replaced Jonathan

Across the six regions in this country

Tbe dumb Nigerian electorate decided to vote an old fool with no ideas on how to run a country in the 21st century

And voted him again in 2019 to further ruin and divide this country

Okay fine, the president should come from the north
No problem
Are there not sound northerners that should have been presented in lieu of Buhari?

Now five years plus of his disastrous presidency
See the corner we are in

And yet some with no sense whatsoever cannot still see that this man is a failed president

Okay

For the people asking for wrong turns....

Let's list a few


Who remembers Buharis speech in Egypt, where he unwittingly compromised the independence of the CBN....

In front of a global audience

That was the red flag
Months into his presidency

When investors see that the central bank is not independent and free from political influence
There would be a very big question mark on the country

But we had even professors (stupid ones anyways) who hailed the move, even tho they knew what was is right


The next spill over was into the forex markets

Multiple exchange rates regime (more than six, never happened before) so you have several segments selling the same commodity (USD)

Foreign investors were like ans


What then followed was the ill fated capital controls of December 2015

That was the nail in the coffin

And nigeria has not recovered fully from it


What of the lost revenues due to Buharis handling of the restiveness of the Niger Delta.

If not for Osinbajo coming in as acting president and acting as a pacifist to end the hostilities
Buhari was ready to drag this country down the rabbit hole to assuage his ego...
That is a president no country should have

Now the fiasco is over
And the revenues we lost as a country is lost forever


What of his security failings?

Tho that one is not directly linked to economics in a way, so I wont expand much on it


The tax policy of this administration is also wrong

Elsewhere in a depressed economy, there are tax incentives and waivers across board to stimulate consumption and investment

But this kunu sipping drunkard is taxing all the taxable to death

Common sense did not tell his flea infested brain
That to increase revenues, you EXPAND THE TAX BASE of your jurisdiction, instead of STIFLING YOUR ALREADY SHRINKING TAX BASE.


Me I would have gone on and on

But let me not derail this our thread as much

I crunch numbers for a living
I see the stats on my desk

It's a failed presidency

Okay
The govt is telling you that the inflation rate is less than 15% year on year

Those of us in our line of business know it's a big deception
But we just keep quiet and be looking
We wont say crap.....


Hopefully the president that succeeds Buhari is a sound person who will steer us out of this quagmire we are in

It's just annoying

awesomeJ:
I agree with you on this.

Now the CBN can only tackle the aspect that is within its reach, and that's what it's doing

Yes..
And because the govt is confused
With a minister of finance that is a product of quota system and knows nothing

And a president that does not know anything

The fiscal policy mistakes will always rubbish the monetary policy efforts of the CBN

9jatriot:
Inspite of all of these measures, Nigerians still find a way to circumvent their laws.
Ever wondered why Nigerians are no longer welcomed in Thailand, Singapore, Malaysia, recently Dubai and many other non-first tier nations?

The guys caught in US involved in crime by the FBI were supposed to be in a country where they had escaped the problems of Nigeria, yet the Nigerian in them did not wait long to exhibit itseelf

This one is true

The wrong value system have polluted many of our country men


The value system of consumerism and rapacious materialism.

Any country with these kind of values is up for destruction
No story

If nigeria can address this lust for consumerism
30% of our problems will be dealt with and past tense


How can someone like Invictus Obi still indulge in Fraud
Despite your education

As expected, his offence was that he dared to win.
So much gutter language

DexterousOne:
What makes you think I dont have what to respond to him?


I just chose not to....


This is not a Jonarhan Vs Buhari thread

But since you have brought it it up subtly

Let's address it

Jonathan had his failings

And him losing the elections in 2015 was not a bad

What was the bad thing
Was to vote a complete idiot like Buhari to replace him


We have so many technocrats in this country that would have replaced Jonathan

Across the six regions in this country

Tbe dumb Nigerian electorate decided to vote an old fool with no ideas on how to run a country in the 21st century

And voted him again in 2019 to further ruin and divide this country

Okay fine, the president should come from the north
No problem
Are there not sound northerners that should have been presented in lieu of Buhari?

Now five years plus of his disastrous presidency
See the corner we are in

And yet some with no sense whatsoever cannot still see that this man is a failed president

ultron12345:
Correct.

Like I always say, there is nothing wrong with the land called Nigeria, there is nothing wrong with River Niger and Zuma Rock. The only problem with Nigeria is the kind of people inhabiting the land. Nigerians are a cancer to Nigeria. There is no major difference between the land Nigeria, and the land Canada. The only difference is that one is occupied by smart people while the other by stupid people.

Someone was telling me about a Nigerian that got a political position in Canada and made a statement "that he hopes, one day, Nigeria will start to reward merit". I told the person that I don't agree. Nigeria cannot reward merit, neither can Canada. These are just lands. It is the inhabitants of Canada, Canadians that recognize and reward merit. The inhabitants of Nigeria on the other hand, prefer nepotism. Nigerians do not recognize and reward merit, but you'll see Nigerians saying "Nigeria", trying to dissociate themselves from the problem.

Again, I'm usually shocked at how boastful Nigerians are. Someone up there said Nigerians are the most hardworking and honest people.... Lol.
Nigerians will claim they're the smartest, most intelligent, most hardworking people in the world. It's surprising how a people that cannot manufacture ordinary toothpick believe they're more intelligent than people that are traveling into space. People with productivity per capita of $2000 believe they're more hardworking than Americans, Japanese, Singaporeans with productivity per capita of $62000, $39000, and $64000 respectively. A country of 200Million of the "most hardworking and smartest individuals in the world" has a GDP of $400B, while a country of 35Million "less hardworking and less smart" Canadians have GDP of $1.7Trillion. Just 8.5Million Swiss people make GDP of $705B, far more than 200 million of the so-called "most hardworking and smartest individuals in the world". Dr Ola said on twitter that there's no evidence that for Nigerians being the most enterprising people, not when you have the Jews, Lebanese, Indians. You can even see their exploits here in Nigeria.

Nigerians will give excuse of "environment", saying the Nigerian environment is bad. The reason the Nigerian environment is bad is because Nigerians failed to build a good environment. The good environment in US, UK, China, Norway, Canada did not fall from heaven, it was built by Americans, Britons, Chinese, Norwegians, and Canadians respectively. Upon the good environment in the UAE, Malaysia and other countries, Hushpuppy and other Nigerians still go there to do rubbish. Hence, I'm not surprised Nigerians are being banned everywhere.

Excelling abroad ke? Nigerians just like to make noise. Did you know that among US immigrants, Nigerian American immigrants are not even among the top 60 in terms of median household income. The Indians, Chinese and co top that list. Even amongst Africans, South African Americans, Egyptian Americans and Ghanaian Americans earn more than Nigerian Americans (who actually earn less than the overall American average). Whatever you think Nigerians are doing abroad, others like the Indians, Chinese, Lebanese have done far far more. Just that Nigerians like to make more noise.

https://en.m.wikipedia.org/wiki/List_of_ethnic_groups_in_the_United_States_by_household_income

Next, they'll be pointless their crooked fingers at the leaders. And I ask, are the government not Nigerians, are the leaders not from amongst the people. All the looting politicians, all the SARS that are killing, that did not come from another planet, they are all from amongst the citizens. They are a microcosm, a cross-section of the citizens. They say they apple does not fall far from the tree. A multitude of demons cannot give rise to angels as leaders. Bad citizens will always give rise to bad leaders.


Nigerians are just a failure of a people, that's why Nigeria is the way it is today.

NB: I never said there are no hardworking, smart, intelligent Nigerians. I only said that these set of Nigerians constitute a very tiny minority of Nigerians, far less than 10%. And if 90% of a product is defective, it's fair to say the entire product is defective.

where have you been all this while? While I was busy trying to explain all this ....