Rhymz's Posts
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 Business › Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by rhymz(m): 2:50pm On Jul 10, 2012 |
basher: Why is the FG reducing Ibeto's tax exposure to 5%? Two wrongs don't make a right.the FG did that to compensate for Ibeto's loss in 2005 when Dangote and The Lafarge group connived with OBJ to shut Ibeto Cement and seized Ibeto's bulk cement for over 2years. Now that he, Dangote has finished his Cement factory after using OBJ to stop IBETO's, he wants FG to now remove the waiver which he too had once benefited from...im father 1 Like |
| Politics › Re: I Forsee A Military Coup Soon by rhymz(m): 10:44am On Jul 10, 2012 |
I am lost for words. This country is the brink of a civil war, this time not the East against Nigeria but the North against itself. We are flirting with full-scale war and to be honest, the whole government paraststatus is compromised and crippled with ineptitude and lethargy. GEJ had better be careful, I wont be surprised if there is an attempt on his life. |
| Christianity Etc › Re: Similarities Between Nigerian Pastors And Politicians by rhymz(m): 5:49pm On Jul 09, 2012 |
tunapawizzy: dis life is very complex. deep evaluation of events all over keeps convincing/confusing me on certain issues that m even scared to share. every passing day i get an extra reason to doubt the existence n credibility of some things. I think there is an exaggeration or a total non existence of one particular concept. If not why are things the way they are...why are people with least inclination to a supreme being d most successful. I just wonder. Billyonaire: Hahahahaha, I have been there, longer than you can imagine and the truth is, you can be there forever, except you keep an open mind and stop egotistic behaviors and open yourself to learn more.Who can honestly answer this question cos lately, I am begining to believe that God is a man-made mental creation, a figmentation of a conditioned mind. Certain things happen in your life and you ask yourself the following questions: 1. Is God willing to prevent evil, but not able? Then he is not omnipotent. 2. Is he able, but not willing? Then he is malevolent. 3. Is he both able and willing? Then whence cometh evil? 4. Is he neither able nor willing? Then why call him God? |
| Christianity Etc › Re: Similarities Between Nigerian Pastors And Politicians by rhymz(m): 5:20pm On Jul 09, 2012 |
Billyonaire: Hahahahaha, I have been there, longer than you can imagine and the truth is, you can be there forever, except you keep an open mind and stop egotistic behaviors and open yourself to learn more.Who can honestly answer this question cos lately, I am begining to believe that God is a man-made mental creation, a figmentation of a conditioned mind. Certain things happen in your life and you ask yourself the following questions: 1. Is God willing to prevent evil, but not able? Then he is not omnipotent. 2. Is he able, but not willing? Then he is malevolent. 3. Is he both able and willing? Then whence cometh evil? 4. Is he neither able nor willing? Then why call him God? |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 3:11pm On Jul 09, 2012 |
AjanleKoko: I think we bother too much about what Ghana is doing or not doing.you have a point there. |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 12:17pm On Jul 09, 2012 |
Here is the article I posted earlier on that tyrants like Maclatunji removed because he is a moderator. What am eeeeediot!! There is this false impression Sanusi gave on the reason why Jaiz bank has been unable to operate since it was given approval-principle inlicence in 2004 to carry on as a profit and loss bank. The CBN of Joseph Sanusi granted an Approval-in-Principle Licence to Jaiz International Bank PLC in 2004, this licence was issued for it to carry on the business as a Profit and Loss Sharing Bank as defined in the Bofia . However, Sanusi was reported in the newspapers to have announced at a Conference on Islamic Banking in Dakar, Senegal, that even though the CBN had issued (?) Jaiz International Bank PLC an Approval-in-Principle as the “first Islamic Bank in the country”, Jaiz Bank was unable to operate as a Profit and Loss Sharing Bank because there was no Islamic Banking Guidelines when actually it was simply because it was unable to raise the minimum capital requirement of N25Billion. The CBN has now inexplicably lowered the capital requirement for Islamic Banks to just N10Billion to achieve “National Bank” status as against the N25Billion it stipulated for Deposit Money Banks. Why is the Sanusi Lamido Sanusi-led CBN unduly eager to make life easier for Jaiz International Bank and other proposed Islamic Banks? Another wrong impression that Sanusi deliberately created is that Non-Interest Banking is SYNONYMOUS with Islamic Banking. Infact, Non-Interest Banking pre-dated Islam. It cannot, therefore, be the exclusive preserve of Muslims or Islam. Non-Interest Banking dates back to about 1444 B.C. It has its origin in the Jewish practice of lending money by an Israelite to a fellow Israelite without charging usury or interest as commanded in Exodus 22:25 and Deuteronomy 23: 19- 20. For the sake of space I have only listed the quotations you can go and look it up in the bible. In modern times, the principle of Non- Interest Banking is evident in Venture Capital and Private Equity firms where projects and businesses are financed through equity funds after the financier has assessed the risk as acceptable.Non-interest banking works essentially on the principle of RISK SHARING between the capital provider and the user. The profit or loss arising from the transaction is shared on an agreed basis. Islamic banking as we know it today is actually a recent innovation and begun in Egypt just about 50 years ago. The first Islamic Bank, the Dubai Islamic Bank, only commenced business in 1975. So Islamic Banking is merely a sub-set of Non-Interest Banking. Also, it is worthy of note to stress that there are successful models of Non-Interest Banking in the world that are not “Shariah- compliant” or in line with “Islamic jurisprudence.” The JAK Members Bank of Sweden, please visit http://jak.aventus.nu/22.php The co- operative society Jord Arbejde Kapital (JAK) was founded in Denmark during the Great Depression in 1931. So make nobody come here come to dey "bowbow" with sweet-coated lies like we can't research the internet for ourselves on the net. Gone are the days when propagandist use that kind of antics to mesmerize a large number of people, with the advent of the internet and information technology, only a fool will accept half baked information without cross checking. |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 12:04pm On Jul 09, 2012 |
Maclatunji You are a shameless moderator for removing my comments, what a tyrannical brute!! So you want comments that will only align with your antics and agenda abi. . Na wa o |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 12:00pm On Jul 09, 2012 |
UNANSWERED QUESTIONS AND CONTENTIOUS ISSUES Very many questions remain unanswered: • Why the special and illegal treatment of Islamic banking in contravention of Section 39(1) of BOFIA and the Nigerian Constitution? Aspecial CBN NIFI Framework for Islamic Banking contravenes the secularity of Nigeria enshrined in Section 10 of the Constitution which states that “The Government of the Federation or of a State shall not adopt any religion as State Religion”. 1.Why introduce religion into Nigerian banking in contravention of the spirit and letter of Section 39(1) of BOFIA? 2.Why have an “Advisory Council of Experts”? 3.Who are these “experts” in Islamic Banking? 4.The Advisory Council of Experts if comprised of Muslims alone is in contravention of the constitutional provision regarding Nigeria’s secular status and the Federal Character Principle? Section 14(3) of the Nigerian Constitution: “The composition of the Government of the Federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria and the need to promotenational unity, and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few State or from a few ethnic or other sectional groups in that Government or in any of its agencies”. 5.Why is CBN a member of the Islamic Financial Services Board (IFSB)? Even the United Kingdom and the United States of America which the CBN puts forward as some kind of examples of “best practice” in the area of Islamic Banking and tolerance are not even Observer Members of the IFSB. In North and Sub-Saharan Africa, the only “Full Members” of the IFSB are Egypt, Sudan and Djibouti. Who made Nigeria a “Full Member” of the IFSB? 6. Why will CBN surrender bank regulation to Muslim clerics? 7.Will CBN also have councils for every other faith-based NIFI? 8.What is CBN’s competence to delve into religious matters which are subjective and open to various interpretations? Obviously, issues are not as straight forward as Sanusi would like you to believe. No one is against muslims having islamic banks but it must be done in the way the constitution of the Federal republic of Nigeria outlined its operations. No need to bring religion based rules and regulations into government agencies, that should be left to the discretion of each operators just like we have on our education system, simple. |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 8:24am On Jul 09, 2012 |
[quote author=Find Out!]Dude, quit ranting unnecessarily and educate yourself with this www.newswatchngr.com/index.php?option=com_content&task=view&id=3430&Itemid=28 Whether you agree or not, islamic banking predated Sanusi at the CBN. This Jaiz bank was granted an Approval In Principle (AIP) to operate in 2004, but they could not meet up to the minimum capital base stipulated by the CBN. Use your internet, go online & read important financial bodies' views on islamic banking, then come back & tell me if its not good for Nigeria. While you are at it, you may also wish to review the guidelines for its set up in Nigeria & tell me anywhere you find marginalisation of xtians or people of other religions. Nigerians will never learn. If we continue to allow religious & tribal bigotry becloud our sense of reasonin, our journey to the 'promised land' will continue to be postponed indefinitely.[/quote]You obviously do not read between the lines and know nothing about what that article was just glossing over non-issue and became vague on the real issues. You want us to talk about the unconstitutionality of Mr Sanusi's guidelines and even the gloss over and superficially revised version? Ok, wait. . Let me go through my archives and shut you up, I hope you have the capacity to argue your case. |
| Education › Re: NUC Shuts Down ESUT And ABSU Satellite Campuses In Aba by rhymz(m): 7:34am On Jul 09, 2012 |
Ezira: Jenti, there is no point being nervous. I'm a NUC staff and can confirm it to be the truth. I've visited virtually all satellite campuses in Nigeria. We tend to only accept the truth when it does not affect in this country. You sound like the proverbial student who would always tell his father 'he gave me an F' when he scored F and 'I made an A' when he scored ABrother thank you very much for this wonderful explanation. Mr Jenti obviously is taking the matter personal and running off with this misconception that NUC chairman has an axe to grind with the owner of LEEDS CITY University that is why the school was in the list of Universities whose licences were ceased, very preposterous claim cos they were not the only school in the list. Nigerians should learn to comment with facts and not hear-say or rumours. |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 7:05am On Jul 09, 2012 |
Basic: Then you must be talking of another Islamic banking. Probably the one you invented. Show us links to your claims, Professor of Islamic banking.You are a fool that has little or no intellectual capacity to understand what you are blabbing about. First of all, its establishment as presently set up is not even constitutional. Sanusi your bigoted hero went above his powers to give operational licence to Jaiz banks without the consent of a finance minister who in turn would have sought for the redraft of the BOFIA from the NA if need be(something I am certain the finance minister will not do) with regards to the status of Islamic banks having different guidelines and their mode of operation. What Sanusi did was to hurriedly draft guidelines which gave unconstitutional powers to islamic banks to operate as a separate non-interest bank model with very different rules and regulation guiding it establishment. For instance, to set up a non-interest bank in Nigeria, you will have to raise the required 25billion naira capital base but with Sanusi's redraft, the separate regulations he drafted to establish an islamic bank demands that the islamic operators come up with 10billion naira, how fraudulent is that?? As if that was not enough, he also set up a sharia supervisory council in the CBN, something alien to non-muslim countries that allowed islamic banking. The implication of this is that, the Islamic north and muslims in general will have an islam banking sector existing in parallel with the conventional banking sector. In a way, muslims want to use tax payers money to create an environment different from what is constitutionally recognized and give themselves an undue advantage in the banking sector by reducing the requirement base to set up their own banks while conventional non-interest bank models pay up the constitutional 25billion capital base. In the end they most likely will operate like the conventional banks charging all manner of fees and interest in different muslim name but basically thesame mathematical charges and terms, from marked up charges to profit and loss, all pointing at commission and charges but playing at semantics. We all not stooopid you know? Instead of you blabbing utter ignorance it is best you don't expose your lack of depth but if you wanna try, bring it on. |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 6:57pm On Jul 08, 2012 |
Basic: Do you mean a country called the "Islamic Republic of Britain" now exists in your own geographical atlas of stupidity?hey you, whatever you call yourself, you are an ignorant eeediot that knows nothing about what is being discussed. If you think in Britain islamic banking has laws different from Britains traditional Non-banking regulation then you must be high on Sanusi's fart. Britain's Central bank does not have any sharia supervisory council comprising of muslim experts on sharia laws regulating the activities of Islamic banks, that is left to the discretion of the islamic banks. Also, the principle of their non-interest claims have been shown to be unrealistic, little wonder pakistan for instance where islamic banking is heavil practised and has constitutional backing to operate as the country's conventional banking laws, its failures have repeatedly been exposed to the point they had to resort to all manner of naming antics to charge interest from clients. For instance if Client A wishes to buy a house of 100k, the bank buys it for client A and mark it up to say 120k before selling it to client A who pays in monthly installment until he pays off the whole 120k before becoming the owner. Now tell me, the 20% mark up charge what is it? Abi na dash una dey call for your village? My guy shut your frigging mouth before I expose the fraud in your so-called islamic bank. . . . I obviously know a lot about it than you do so sharrap. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 6:26pm On Jul 08, 2012 |
onatisi: dont mind africason he talking theoritical economice whereas what is happening is what i call political economics.all this business registration palava started last year frm circle area and makola and it has nothing to do with the goverment protecting the ppl.the main target of all this game are nigerians inside makola market and the phone sellers at circle area.that is why i said we that we are here know what is happening.You are very correct my Guy. It is obvious the motive is pure envy and politicians exploiting that inherent envy to gain support to better election prospects. I trust Nigerians, they will relocate to the so-called commercial areas, turn the place to another computer village. .lol. .we over here are watching how the the Ghanaian government will treat this issue whether it will be all brawn and no tact or tactful application of diplomacy. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 6:14pm On Jul 08, 2012 |
Africason:Excuse Me Mr, what exactly is your idea of petty trading cos it seems to me you are understanding it on the basis of location and not economics of scale. This also asks the question, what scale of trading enterprises are required to make investments of $300,000? Are they saying only Walmart sized trading enterprises are required to engage in any type of trading besides petty. Cos I can confidently tell you that in reality, there are a minute trading enterprises the size of walmart, the majority are foreign owned medium sized trading enterprises. And trust me, they employ Ghanaians not neccessarily in their tens, they have evidence of Social Security and National Insurance Trust contribution for their workers, their GIPC certificate, VAT receipts and their Ghana Revenue Authority papers, as well as their certificate of incorporation of business from the Registrar-General’s Department. They are not neccessarily in your $300,000 bracket but are affected by this act because of its vagueness and ambigious interpretations. What you dont understand is that the act in its present form affect even foreign owned businesses that are not neccessarily petty. That is why I am asking you again, to give me your definition or understand of the phrase "petty trading." Also, It will be folly for anyone to call their contributions minute, my friend. And let me tell you one fact about trading coperations like Walmart or Target, for every one person they employ, they kill an equivalent of 10 medium scale trading businesses of all sorts that engage more people and cut the supply chains to those petty-traders the government claims to protect. Again, Walmart does not need to be close to a business market to stiffle competitors. With Walmart, even your local petty trader's business will be killed as they will stiffle out those both medium scaled retail and wholesale shops that your petty market women buy from. The point is this, both foreign owned small-scale trading and supermart trading pose thesame kind of dangers of wiping out locals out as feared, why focuse on the one with far less potentials to stiffle you out and leave the one with far more insidious consequenses, if realy the motive is to protect the Ghanaian petty traders without any bias. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 5:11pm On Jul 08, 2012 |
onatisi: the question i need to ask ghanians is this why is the govrment doing this exercise 5months to presidential election when ppl have been complining that atta mills is slow ineffective and that the economy has worsened?hahahaha. . Mehn, you know how to hit and slap the facts where it pains, the most. You know in a way, I have always suspected this out of the blues clamour to enforce a law that has been lying fallow since 1994 it was enacted. I am sorry to say but a majority of Ghanaian populace are not politically savvy if they fail to see the underlying antics of this whole charade. They have been feeding fact on propaganda from their government, little wonder they have become obese and inactive in the brain. I keep asking myself, how can anyone justify a law that says legitimate foreigners leaving in Ghana must invest $300,000 in capital to participate in their economy, are they high on kenke pepper? Mehn na wa o. . But Ghanaian politicians funnily preposterous, I cant believe anyone in their right mind will make such demands knowing that a majority of Africans that cross the border into Ghana are ordinary and meddle class business people looking for markets. |
| Business › Re: Ghanaian Government Closes Nigerian Businesses In Accra. by rhymz(m): 4:57pm On Jul 08, 2012 |
SmoothCrim: In your dreams. The people being kicked out today are being kicked out because they have broken the law. What they are doing can be done by Ghanaians easily and there are many Ghanaians doing it.after being chopped and screwed by PhysicsQED, lecturing you on history like a kid and even making a joke out of your dishonest a$$ with the way you keep switching nationalities when it favours, I have no respect for trolls like you. Matter of facts, Ghanaians are being manipulated by their government using their past time job-hate and envy of foreigner- to distract you lots from the realities in Ghana. Think what you like, but just know one thing; opinions are free, however, facts are stubborn things, you can't lie your way out in the face of fact. |
| Business › Re: Ghanaian Government Closes Nigerian Businesses In Accra. by rhymz(m): 4:48pm On Jul 08, 2012 |
sweetcheecks: @RhymzI can bet my last Kobo that you are a teenager making attempt to sound like you are informed. .lol . . But your stupifying ignorance betrays your attempt, it is evident in your tactless argument. So according to you, you read the eye-catchy headlines and without bothering to read the content you jumped off to comment out of ignorance, so typical of an average Ghanaian or ignorant and tactless Nigerian with no argumentative skills to discern anything. It is obvious, that you realy do not understand the maxim of doing like romans in rome cos if you do, you will see how not so smart you sound carelessly citing it. Were they not doing like Romans, trading just like everyone else is doing in the market and paying the required taxes until from nowhere, some of your politicians trying so hard to gain popular sympathy and support decided to exploit the one weakness of an average Ghanaian-sheer envy and jealousy for foreigners especially Nigerians- by awakening an act that has been redundant since 1994 it was enacted and enforcing it without reviewing it, even with all its attendant vagueness and ambiguity in interpretation. How dare you call a foreign legal resident doing legitimate business illegal? Does'nt he pay tax to the Ghanaian authorities in the places they operate? The shops and spaces they are operating from did they not rent it from Ghanaians? Do you even have the mental capacity to understand what constitutes illegal activities or you just careless like to throw words around even when you do not understand them properly? The fact you are even talking about licence, a concept alien to the discussion only shows that you don't even know what you are blabbing about. It is best you keep quiet and let people with the comprehension capacity to debate the issue as it is obvious you are steering in unknown waters here. Please for future sake, just shut up and learn from other people's contribution, it wont make you any less intelligent instead of posting hokum that has nothing to do with the issue being discussed. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 4:04pm On Jul 08, 2012 |
onatisi: how many ghanians themselevs can afford 3000 ghcedis for business hw much more 3000dollars nt to talk of 300000dollars.ghana is on its way down and that is what jj rawlings has been saying this NDC goverment has borrowed more than they can sustain go thru ghana news u will see the true picture of their economy.they know the reason why they are doing al this rubbsih it is not about protecting the poor innocent stupid ghanians itt smells of politics a little bit.I have always suspected it wass a populist political move to win the sentiment of Ghanaian populace who the government in power suspect are already bustling with envy and xenophobic tendencies towards foreigners and Nigerians especially. Knowing fully well that the Ghanaian people are begining to grumble at the way the claims of economic growth is not trickling down to the commoners, they decided to exploit their weakness-hate and envy for foreigners and Nigerians in particular- all in a bid to distract them from the real issues they are supposed address. And apparently, it is working out for their government from the way they have continued to argue emotitionally rather than logically. It is only negetive emotions that will cause an African to want to take the businesses of fellow Africans and give it to redundant citizens that understand very little a about hard work. It is only emotions that will make a Ghanaian see the small threat posed by foreigners engaged in small scale retail trading but find justification for the huge threat posed by gargantuan super mart stores and malls. . The majority Ghanaian populace so far have shown political docility in the face of strong government manipulations, it is so evident from the general consent and agreement they have lent to their government. They will rather hate on foreigners whom as they have been decieved by their government, are the cause of their problems than scrutinize the intent and usefullness of a policy that is clearly obnoxious. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 3:33pm On Jul 08, 2012 |
Africason: If what i rote lacks any 'serious intellectual depth' then i vigorously believe u have serious comprehension problem.Are you for real? So what you are saying now is that all the retail traders in Ghana are concentrated in the market? Those designated commercial areas do not have people doing retail businesses in medium scale there. What exactly is your definition of retail trading? Like seriously how old is the kid? Do you own a business? So in essense, if I have a small or medium sized business outside of the market, according to your understanding I wont be affected since I am not compting directly with poor Ghanaians in the market. I thought you were smarter than this, the antics of your argument is at best mediocre. Walmart and its likes do not just compete with your petty traders in far away markets, as well as the medium scaled retail shop in the business district around it, it kills all of them and eliminate the supply chains to those peasants in the markets who buy from the medium scale businesses. If you have any sense you will realize that competition do not need to be direct or indirect, the fact is, the effect will be very evident. To even show your ignorance further, you are gayed up at the prospects of being hired as cleaners, sales person and clerk staff as opposed to you owning your business and being your own boss. Little wonder there is a general belief that an average Ghanaian is lazy and docile, they like to wait for everything to come to them. Keep deluding yourself. Walmart pays taxes just like every other, person petty or not doing bysiness in Ghana pays. If you can't fight the bigger problem occassioned by their likes but instead fight smaller business for thesame reason, then such law is useless and obnoxious. 1 Like |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 3:02pm On Jul 08, 2012 |
PetroDolla: You are the one spewing out garbage,huh? And who are you to determine what constitute 'obnoxious laws?' I guess the mass deportations carried out by nigeria in 1983 and 85 were justified,huh? I am told this particular Ghanaian law was enacted as far back as in the 1990s and I don't see anywhere that it mentioned nigerians. Or you think only nigerians are in the retail sector in Ghana? some of you need to be examined. I understand every nigerian is likely to suffer some mental imbalance at some time in their miserable livesI am not interested in indulging your fouls smelling mouth, am a little interested in what you have upstairs, even though am in doubt you have any sense. Before Nigeria deported Ghanaians, Ghanaians already did so during Nigerian civil war if realy that is the basis of your vindictive arguments. Anyway, tell me what exactly makes sense in that Law? How many common people start a business with $300,000 anywhere? What category of trading businesses are required to pay $300,000? Do you know how much that is? |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 3:01pm On Jul 08, 2012 |
PetroDolla: You are the one spewing out garbage,huh? And who are you to determine what constitute 'obnoxious laws?' I guess the mass deportations carried out by nigeria in 1983 and 85 were justified,huh? I am told this particular Ghanaian law was enacted as far back as in the 1990s and I don't see anywhere that it mentioned nigerians. Or you think only nigerians are in the retail sector in Ghana? some of you need to be examined. I understand every nigerian is likely to suffer some mental imbalance at some time in their miserable livesI am not interested in indulging your fouls smelling mouth, am a little interested in what you have upstairs, even though am in doubt you have any sense. Before Nigeria deported Ghanaians, Ghanaians already did so during Nigerian civil war if realy that is the basis of your vindictive arguments. Anyway, tell me what exactly makes sense in that Law? How many common people start a business with $300,000 anywhere? What category of trading businesses are required to pay $300,000? Do you know how much that is? |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 2:27pm On Jul 08, 2012 |
Africason: Are u making sense? Well, I don't think so... Bro, i believe u rather lack the mental clarity to digest what the law says. Don't you thin its proper to check the laws of a state before you set up businesses there? As acknowledged that law was formulated in 1994! If you were wise enough you would have read the trading regulations.Once again, I would implore you to apply common sense when you make your argument cos your claims are obviously dishonest and reckless. You are trying so hard to exonerate the GIPC and authorities involved in enforcing such law when it was enacted from any blame and dishonestly putting it on unsuspecting foreigners. Are you not curious to know why since 1994 the act was promulgated it has not been enforced until now? How applicable is such a law in present Ghana without any review of the GIPC act in present day Ghana? The law is vague and left to ambiguos interpretations as is being applied. Is Ghana not a signatory to the ECOWAS free trade agreement, where is there no clause that addresses these issues. What categories of "trading enterprises are required to make capital investment of $300,000. Let me ask you a question, who rented these shops and spaces for to these foreigners? Ghanaian officials and Ghanaian people, right? Were they not aware of the law GIPC laws? Unless the driving motive here is pure envy and jealousy, there is no basis to say your reasons are to protect Ghanaian petty traders from marauding foreign petty traders when there are supermart stores closing the petty businesses of Ghanaian geometric proportion, a feat that even a thousand petty foreign traders can not achieve. Don't you see the folly of your intellectually shallow argument. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 2:09pm On Jul 08, 2012 |
Africason: Indeed, u cannot answer it cos i gave u the damn truth. Its not only Noigerians that are affected. You didn't see the Chinese lady closing her shop? http://business.myjoyonline.com/pages/news/201207/89436.php Africason: I don't normally generalise, but based on that quote, u are describing the traits of most Nigerians hence the violence associated with Naija and some of its citizens.your logic lacks any serious intellectual depth upon scrutiny. I ask again, between super marts- superstores, distribution malls like shoprite, walmart and their likes- and those petty Nigerian traders, who are more likely to take petty trading jobs from Ghanaians? Be sincere to yourself. This is not a pr!ck measurement ego ride debate, use the instrument of your God given break and stop making boastful comments that paints Ghanaians as envious people that hate for no reason other than they are not as successful as the people they host. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 1:44pm On Jul 08, 2012 |
Africason: No u cannot on whole compare people those two countries. Even twins have different traits.what kind of crap logic is this? Nigerians are losing their businesses in Ghana to some obnoxious laws that all along was silent about their participation in the sector until now when they are making successes of themselves in those areas which hither had been lying fallow. And you dare say Nigerians are b!tching, excuse Mr, if you lack the mental capacity to debate the issue, it is better you just read than spew bullcrap here. |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 1:08pm On Jul 08, 2012 |
Now Let us dissect the rationale of this GIPC laws and the claims of the Ghanaian ministers. Read an excerpt of her claims; "It is important to note that the act does not prevent foreigners from trading in Ghana, it however provides for a situation where foreign traders are expected to engage in larger scale trading activities that indeed provide Ghanaian Consumers with wider product choices." So in essense the Minister is saying it is alright for big foreign traders to invest in Ghana but not small foreign traders. Now, if the goal is, as many Ghanaians have interpreted it, is to “protect” small Ghanaian traders from the overbearing influence and control by foreigners, what is the logic behind allowing big trading entities to set up marts and malls? Are small-scale Ghanaian traders not more threatened by giant retailers and commodity distributors? As is evident even in the west with a better organized sector, is it not obvious that one giant supermarket in a convenient location in Accra or kumasi could easily wipe out 10,000 traders, a feat that even a thousand petty-trading foreigners may not be able to achieve. Why is the Minister or Ghanaians not up in arms to fight this even bigger enemy? Here is another excerpt of her claims and the implication of the GIPC act: "Generally speaking therefore in order for a foreigner to undertake trading activities in Ghana he or she must invest at least three hundred thousand united states dollars in their trading activity, they must employ at least ten Ghanaians and they must also not locate their trading activities in the markets, but are at liberty to operate in any commercial area that is not a market." Let me put the proper perspective context as presented in the act: it is referred to as "Trading enterprise". In the act, there is no definition of what can be interpreted as a "Trading enterprise". There is no clear explaination of real world supply chains. Am sure value added services are exempted as well. So what about a foreigner in Carthage business who is in the distribution chain of commerce, he does not buy but collects commissions for his service, is also in the bracket of those that are to invest $300,000? There is no categorization for large scale, medium scale and small scale businesses; once you are not trading in the market place and you are a foreigner you must invest $300,000. What a Joke!! |
| Business › Re: Clarification: Ghana Is Not Closing Legal Nigerian Businesses by rhymz(m): 11:21am On Jul 08, 2012 |
Can the Ghanaians in this forum raise the intellectual level of their arguments, it seems all too glaring to me that all the Ghanaians here can not go past ignorant boastful rants that adds nothing to their argument. How many of them have even come to understand the vagueness of the GIPC act that they are using in defence of their actions. Too much follow follow and less intellectual scrutiny amongst Ghanaians, there's a lot of inconsistencies in the act to begin with. Seriously, if an foreigner should engage the services of an attorney, s/he will have a good case and chance. 1 Like |
| Business › Re: Jaiz Islamic Bank To Raise More Capital by rhymz(m): 9:07am On Jul 08, 2012 |
tantan: i love islamic banking. no interest on loans. this type of banks will realy empower we nigerians. i welcome it.A lot of people are yet to understand this model. Free Interest my a$$. Some people make statements that defile common sense, countries where they operate, how many peasants have been given free interest loans  How many southern business owners can meet their requirements? Even the hausa business men who are mostly small time farmers selling their products, how many of them will borrow money from a bank on the basis of profit and loss sharing?Unless the bank plans to pay its staff with water where will they get money to pay their salaries when they are not engaged in traditional banking? In countries where they heavily operate, they collect interest but collect it different names. . Lol. . |
| Business › Re: Ghanaian Government Closes Nigerian Businesses In Accra. by rhymz(m): 8:24am On Jul 08, 2012*. Modified: 8:53am On Jul 08, 2012 |
SmoothCrim: Ghana is MUCH better than nigeriaGhana is much better than Nigeria in relative terms. The reality is this; just like Nigeria, Ghana is still very much struggling with everything Nigeria is struggling with, from corruption, lack of infrastructural development, a developed economy to even insecurity but in the case of Nigeria, it is much more bigger and pronounced. The reasons are obvious. One thing I have found out with many Ghanaians is the fact that they like to be in denial, they will rather blindly follow popular government opinion or policy than scrutinize the usefulness of the policy. For instance, if all these foreigners are driven away from their businesses and shops, who is going to rent those shops and occupy these spaces? How many Ghanaian business men will go to the length these traders go to get these goods to Ghana. How many Ghanaian business people even have the financial wherewithal and knowledge of the intricacies of bringing and trading in these goods and services. Thesame Ghanaians that could not fill in this space and rent this shops will be the ones to take up these shops? No? They seem to act like they don't have any gains from these foreign occupants. It is a very dangerous trend for everyone to have such unison in thoughts such trend breeds mediocrity and laziness to think out of the box. One thing you can't take away from Nigerians is their ability to tell themselves the truth and disagree when the need arises but with Ghanaians, it is a one-way street, charly-charly things. Nigerians must be forced out, they are corrupt bastard, all of them are criminals, fraudulents and are the reasons Ghana is having problems in these areas. You all should stop this herd mentality and criticize constructively and purposefully too. Demand for better ways to solve Ghana's economic problems than support a move that seeks to collect the business from foreigners and give it to Ghanaians. If the claims of economic gains are not trickling down to the common people of Ghana, Ghanaians should demand it from their government, they should ask for empowerment from their government to help them compete. And let me correct an impression here, there is a big difference between the emigration to Ghana and say to a place like US and Uk, while in the former it is mostly for business, education and professiona work transfer, in the latter it is purely mostly for economic reasons(better opportunities) and education. Very few Nigerians will leave the country to Ghana for the sole aim of getting a better life or for greener pastures as they say, e never reach like that. All the people I know that stay in places like Ghana are there purely for business and market expansion. Fact is that even if Nigeria becomes better than US today, you will still find Nigerians in other west African countries, this is common sense; to expand opportunitie in business, find an untapped market and so on. . The motive is purely driven by such these reasons and not because Ghana has turned Eldorado and Nigeria has become Hellfire. Go to Onitsha alone and see the sheer volume of business that goes on there, you will agree with me that Ghana is an untapped market, not to talk of Lagos, Aba, Kano, Kaduna, Nnewi markets. . |
| Business › Re: Ghanaian Government Closes Nigerian Businesses In Accra. by rhymz(m): 7:52am On Jul 08, 2012 |
sweetcheecks: Nigerian men please stop being this emotional, you always react to things but not respond. There are laws that govern countries and need to be adhered to, even the bible says that. And the article says illegal trading. Why do you cry foul everytime you are called to order especially in your illegal dealings? Dont you think that is why Nigeria struggles to have a working legislation that put checks and balances to ensure a smooth running governmental system?You are rendering your country ungovernable now you want to do the same, in other countries?Even though you sound way better and mature than than your brothers here on NL that have been busy giving us reasons to realy hate Ghanaians with their ignorant boasting, however, I think some times Ghanaians make statements that seem to either exaggerate or downplay certain realities in Ghana. May be it has to do with attitudinal difference between Nigerians and Ghana; the former will damn common sense and courtesy and say his father's prick is small even in the presense of strangers while the latter will ignore or downplay the small size of his father's pr!ck and instead, laugh and make jest of the former's unrestrained and tactless statements even though in reality, they both have small pr!cks. You are so quick to talk about Nigeria not having a working legislature, yet "the almighty Ghana legislature" sat down and actually deliberated on an obnoxious law that defiles common sense, a law that seems to suggest that an average Ghanaian does not have the wherewithal or ability to compete in a free market. A law that makes very unrealistic demands from non-Ghanaians, all in a bid to force them out. Your system has checks and balances yet a law that existed since 1994 was not implemented until recently, why the long wait, now when non-Ghanaians are begining to make a living from a sector that an average Ghanaian probably overlooked, envy .Your legislature is working like you claim yet they allowed Ghana to be signatories to the ECOWAS free trade agreement knowing fully well that there already exist laws in the Ghanaian constitution that frowns at foreigners doing unrestricticted business-whether formal or informal-in Ghana. And by the way, what do you mean by illegal business? These are business men that came to Ghana, rented space and shops legitimately from Ghanaians who knew about the GIPC laws and also knew that these foreigners were going to start doing business in these shops and spaces, yet you call them illegal? Are they supposed to know about the GIPC Law coming from their own countries or the Ghanaian authorities are supposed to have prevented them in the first place citing the redundant GIPC laws as the recourse of their actions. It seems to me the Ghanaian authorities arbitrarily wield their constitutional powers out of envy and jealousy for the successes of these foreigners have achieved in sectors where an average Ghanaian has failed or overlooked. Just out of curiosity, did your "perfect legislature" also passed a high tarrif law on Nigeria's movies and restricted Nigerian actors from shooting in Ghana or featuring in Ghanaian movies. I heard they also have been asked to pay certain fees in dollars as well to scale any restrictions. I am wondering, how many of these obnoxious laws have been lying fallow in the Ghanaian constitution that are just begining to emerge all of a sudden. Obviously, Ghanaians are begining to have an exaggerated sense of their importance to others; you lots should not forget, Ghana is still a third world country just like Nigera, there is still gargantuan corruption in Ghana just like in the case of your big brother, Ghanaians should always remember that! |
| Business › Re: Ghanaian Government Closes Nigerian Businesses In Accra. by rhymz(m): 4:52pm On Jul 07, 2012 |
We need genuine Nigerians doing business in Ghana to actually speak out and tell us what exactly is the case in Ghana. There are reports in some Ghanain newspapers' publication that Nigerians and other ECOWAS members were not affected by this obnoxious trade law. I believe it is in the best interest of Ghana and its government to desist from the application of anti-competition policies that victimizes non-Ghanaians. It will be folly for any Ghanaian citizen to underestimate the negetive effects a retaliatory policy from other west African countries especially Nigeria will have on the emerging economy of Ghana. Whether the likes of Petrodollar and his ilks like to admit it or not, the economy of Ghana-both the formal and informal sector- is still very much in the hands of these foreigners, a diplomatic row with anyone especially Nigeria will b very much felt. I don't want to go into details of how core areas of their economy can be sabotaged should push come to shove. Nigeria for instance supplies Ghana's ECG with very cheap and affordable Gas that improved greatly the out of the national grid, whatever FDI attraction the manufacturing sector is getting depended greatly on this improvement. If the Nigeria government decides to teach Ghana a lesson by increase the price of her gas just as Russia uses her oil and gas as a political tool to tame Georgia and the other former USSR countries. The Ghanaian government needs to stop decieving her citizens by giving them the impression that whatever inefficiencies that is found in their system is caused by foreigners and fellow Africans in particular. 1 Like |
| Christianity Etc › Re: Private Christian Universities: Faith In Deception? by rhymz(m): 11:18pm On Jul 06, 2012 |
jp philips: ok; i believe you, in the old testaments pastors are mandated to be presenting burnt offering as a means of purifying themselves, pastor says NO that old things have passed away behold all things have become new, i agreed again; |
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