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this is a paper that recommends steps the CBN shoudl take to avoid pain on the masses but ensure order in the forex market by introducing the inter bank forex market were the prices are deregulated http://therenaissanceng.com/naira-devaluation-emefieles-battle-to-save-nigerian-economy
the steps are below
CBN needs to unlock the supply side of the foreign currency and this may happen in many ways. My recommended approach is the creation of a multi-tier foreign exchange market.

Retain the existing official exchange rate for only special government projects and place a limit of the availability based on authorized budget needs for foreign debt servicing ad payment for existing dollar denominated transactions and funding of the petroleum imports (excluding diesel and kerosene). The reason for keeping this official rate is to control the price of imported petrol which usually leads to inflation whenever a price increase in announced.
Create the Interbank foreign exchange market with autonomous suppliers of the foreign currency. This would allow the forces of demand and supply determine the price of the Naira at an unregulated market. The CBN cannot continue to defend the Naira because the US dollar has grown stronger against many international currencies such as the Great British Pound (GBP) that has lost over 4% of its value in January 2016 alone.
Boost local production capacity through power generation, establishment of new refineries reducing our need for importation of refined products and fertilizers, human capacity to reduce outflows due to need to seek medical attention overseas, pay software development companies when local developers can take care of most software needs, raw materials research and development, equipment fabrication and development of transport infrastructure.

Bevista:
I am not sure the CBN sells dollars directly to banks arbitrarily.
---
The dollars allocated to DMBs are based on customer requirements which the banks will have to show evidence to the CBN. Such requirements include approved LCs, BTA, Medical bills, school fees, etc. So, all dollars given to banks already have pre-determined purposes.
---
The bank is most likely sourcing extra dollars from independent & unconventional sources and will transfer this cost to the customer. If they do not do what they are doing now, then you may not even be able to use your cards for international payments because the banks won't have dollars to clear that transaction. Maybe then you will be begging to pay N350.
---
The major problem I see here is when the banks are buying dollars from customers. They pay less than N197 and yet will sell that same dollars to another customer at N285. As long as the huge divergence exist between the official and black market rates, this arbitrage will continue.
---
What the CBN needs to do is to devalue the official rate to anywhere between N230 - N250 and that will narrow the gap between the two markets. Pending that, the banks will continue their roundtripping and there's nothing you can do about it. Have you wondered why the CBN is not saying anything about the matter? Or do you think they are not aware?

This could be due to the principle of seeking undue advantage of the inability of teh CBN to regulate how the dollar is managed by the banks and other institutions that buy dollar at the official rate.

The Central Bank needs to start monitoring the utilization of the forex allocated and publish weekly the list of all beneficiary banks and businesses.

This article says more about steps to fix the dollar to naira valuation http://therenaissanceng.com/naira-devaluation-emefieles-battle-to-save-nigerian-economy

Yet Emefiele devalued the currency twice in the twilight of Goodluck Jonathan’s administration. Then I decided to look into the merits and demerits of the approach by the CBN governor in keeping with the wishes of PMB that Naira should be strong.

How does he go about taming the hawks running after the chick (Naira)? No doubt some would gain from a devaluation of the Naira against the USD while others would lose.

Why devalue the Naira? The most common arguments are the forces of demand and supply. Many authors claim that the supply of the dollar is too low due to crude oil prices and our ability to build our foreign reserves when the crude oil prices were as high as $140.

So the story keeps going on around the supply side of the equation with little or no consideration for the demand side.

So what is happening on the demand side?

The demand for US dollar in Nigeria is putting pressure on the Naira and our foreign reserves, thereby depleting the reserves faster than we are able to replenish it.

So the CBN decided to reduce its supply of forex to the market by removing some items from the list of products eligible for funding through the official forex window also known as Wholesale Dutch Auction System (WDAS).

Immediately this was announced the importers shifted to the Bureau De Change (BDC) for their dollar demand. So the demand advocates want to survive by relying on the BDCs and the BDCs saw a surge in demand with little supply causing the first major pressure that led to Naira selling at above N230 and the upward trend for dollar demand continues.

One interesting point in this period was that the demand started to drop as the appetite for imported goods started to drop but with minimal effect on the foreign reserves since the crude oil prices also kept dropping.

So CBN acted the second time by preventing banks from accepting dollar deposits, this resulted in the next supply shock and uncertainty in the parallel forex market pushing the USD to Naira rate to approximately N270. Does this mean that the demand for dollar would keep going up?

The most recent action by the CBN in January 2016 made the most recent jump to N300. My answer is Yes, every pronouncement by the CBN has only succeeded in fueling an increase in the demand of the dollar at the parallel market.

The reason for the decline is the anticipated official devaluation; every announcement shows the CBN is desperate to curb the demand. This action is a signal to rent seekers, prospective hoarders who feel they may need dollar anytime soon and currency speculators to continue to convert all spare naira cash to US dollars.

If I bought dollar when it was N220 and sell now that is N300 I don’t need to import to make a margin of N80 or 36% through the devaluation of the Naira at the Black Market.

Who is CBN selling the scarce dollars to? Why do some business men have a right to buy dollar at N197 (dollar subsidy) while every other business buys at N300. In recent times, many companies who buy dollar at official rate come to the market to claim that dollar is affecting them so they calculate sales based on N300.

CBN cannot control what the recipients of dollars at N197 do when the product gets to Nigeria. So the artificial demand for dollar and the traditional forex round tripping (where people buy at official rate, get some extra dollars at the official rate and sell the extra to the parallel market for profit)

CBN needs to introduce transparency by providing the details of all beneficiaries of the sale of USD N197 since May 29, 2015 for public scrutiny. This should show details of the purpose of the transactions.

What is happening at the supply side?

http://therenaissanceng.com/naira-devaluation-emefieles-battle-to-save-nigerian-economy

wealthprod:
i believe this is a topic we nigeria must treat seriously or else the bank are going to be taking us for a ride.
imagine Cbn selling dollar to the bank at the rate of 199 per dollar while bank in return will charge us at the rate of 301 or 300 per dollar when using your debit card to make transaction online

Nigeria let wake up and take this topic seriously because bank are not BDC but institution and they keep milking us this way
The best solution to this is to cry out and let the Cbn know what is happening so that the bank can be sanction for this

This article provides some insight about the dollar versus naira.

I have read many articles on the need for the Federal government to devalue the Naira in the administration of President Muhammadu Buhari (PMB), yet the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has failed to act on the advice from the public and International Monetary fund (IMF).
Yet Emefiele devalued the currency twice in the twilight of Goodluck Jonathan’s administration. Then I decided to look into the merits and demerits of the approach by the CBN governor in keeping with the wishes of PMB that Naira should be strong.

How does he go about taming the hawks running after the chick (Naira)? No doubt some would gain from a devaluation of the Naira against the USD while others would lose.

Why devalue the Naira? The most common arguments are the forces of demand and supply. Many authors claim that the supply of the dollar is too low due to crude oil prices and our ability to build our foreign reserves when the crude oil prices were as high as $140.

So the story keeps going on around the supply side of the equation with little or no consideration for the demand side.

So what is happening on the demand side?

The demand for US dollar in Nigeria is putting pressure on the Naira and our foreign reserves, thereby depleting the reserves faster than we are able to replenish it.

So the CBN decided to reduce its supply of forex to the market by removing some items from the list of products eligible for funding through the official forex window also known as Wholesale Dutch Auction System (WDAS).

Immediately this was announced the importers shifted to the Bureau De Change (BDC) for their dollar demand. So the demand advocates want to survive by relying on the BDCs and the BDCs saw a surge in demand with little supply causing the first major pressure that led to Naira selling at above N230 and the upward trend for dollar demand continues.

One interesting point in this period was that the demand started to drop as the appetite for imported goods started to drop but with minimal effect on the foreign reserves since the crude oil prices also kept dropping.

So CBN acted the second time by preventing banks from accepting dollar deposits, this resulted in the next supply shock and uncertainty in the parallel forex market pushing the USD to Naira rate to approximately N270. Does this mean that the demand for dollar would keep going up?

The most recent action by the CBN in January 2016 made the most recent jump to N300. My answer is Yes, every pronouncement by the CBN has only succeeded in fueling an increase in the demand of the dollar at the parallel market.

The reason for the decline is the anticipated official devaluation; every announcement shows the CBN is desperate to curb the demand. This action is a signal to rent seekers, prospective hoarders who feel they may need dollar anytime soon and currency speculators to continue to convert all spare naira cash to US dollars.

If I bought dollar when it was N220 and sell now that is N300 I don’t need to import to make a margin of N80 or 36% through the devaluation of the Naira at the Black Market.

Who is CBN selling the scarce dollars to? Why do some business men have a right to buy dollar at N197 (dollar subsidy) while every other business buys at N300. In recent times, many companies who buy dollar at official rate come to the market to claim that dollar is affecting them so they calculate sales based on N300.

CBN cannot control what the recipients of dollars at N197 do when the product gets to Nigeria. So the artificial demand for dollar and the traditional forex round tripping (where people buy at official rate, get some extra dollars at the official rate and sell the extra to the parallel market for profit)

CBN needs to introduce transparency by providing the details of all beneficiaries of the sale of USD N197 since May 29, 2015 for public scrutiny. This should show details of the purpose of the transactions.

What is happening at the supply side?

http://therenaissanceng.com/naira-devaluation-emefieles-battle-to-save-nigerian-economy

kingzizzy:



Look at the rubbish you are writting. You are not ashamed of your self? Your national security forces are shooting unarmed protesters who are exercising their constitutionally guaranteed right to freedom of movement and expression by peaceful protest and you are here trying to justify murder. You can't even question your armed forces why they have to kill people unnecessarily. Your Army went and killed over 1000 Shiites,men women, children and even babies just so that your chief of Army staff will not be late for an appointment with an Emir. This is the Nigeria you are proud of?

I don't even know who Dasuki is but the law states that everone is "presumed innocent until proven guilty in a court of law". Why can't you follow the constitution and allow people their right to a fair hearing in court before you proclaim them guilty? You can't even observe your own constitution but you are here writting nonsense.

If the Nigeria you want is one were unarmed people are murdered for expressing their constitutional right, were the rule of law does not exist and where the constitution is reduced to 'pick and choose', then sorry mate, your nation is heading nowhere fast.

Twitter has been experiencing serious breakdown worldwide today and it has lasted more than an hour now, with the homepage reading a rather specific error report. “Something’s technically wrong”, though it’s good to know that the company is working to fix it.

Access to the service began failing over the web, mobile and its API (application programming interface, the system that applications use to speak to the Twitter service) at 8:20am GMT, with error messages warning the network is both “over capacity” and suffering an “internal error”. By 10:00am, the majority of the service had returned to some semblance of normality, with the company’s image handling service and home timelines still suffering.
To read more visit==>http://blog.kara.com.ng/twitter-experiencing-serious-disruption/

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best price on home appliances#‎KaraNigeria is a great place to buy your gadgets, online. Here are three amazing reasons.
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Apply Now!

There is an urgent need for content writer/product Uploader to work in a growing eCommerce company in Lagos.
Our ideal candidate is a creative, collaborative, flexible multi-tasker with impeccable attention to detail, exceptional grammar, research, copy-editing, and organizational skills. A knowledge of Phones, Home Appliances, Electronics,Inverter, Generators and more a strong plus. Our ideal candidate must be committed to (and love) writing product copy and uploading products online.

Responsibilities

- Upload product imagery,price and copy online independently with product marketing and ensure competitive merchandising.
- Support the development of dynamic web content through project and production management, online content calendar, search optimization and maintenance of brand guidelines and standards.
- Interacting with buying team to verify product information and help shape sale point of view.
- Creating on-brand product copy and ensure integrity and functionality of all site content and engagement tools.
- Taking the ownership of other tasks assigned.


Skills & Requirements:

- OND in any field (or comparable work experience).
- Exceptional writing, grammar, research, and copy-editing skills.
- Excellent communication, organizational and problem-solving skills.
- 0-1 year of comparable online copywriting experience, direct marketing, promotion or publishing, preferably with a background in retail.
- Familiarity with Excel and knowledge of internet technology, Ability to use photo editing/graphics software(Photoshop).
- The ability to multi-task, and to work both independently and as part of a team in a fast paced environment.

Salary

- Monthly salary between 25,000 to 35,000 Naira.
- Monthly bonus based on your performance.
- Ability to earn bonus from team sales target on monthly basis.

Benefits

We offer competitive pay,benefits and in- house training to learn more on the job.

Application closing date : 16th January 2016.

Resumption date for Successful candidate: 19th January 2016.

Send your CV to : royalcoastmedia@gmail.com

Here are some points to check when looking at laptops for sale==>http://blog.kara.com.ng/features-to-check-when-buying-computer-laptop/

Know more fact about Apple iphone 6 HERE==>http:///JvtU2I

price as at today is N29,499 http://www.kara.com.ng/tecno-camon-c8-smart-phone

guydangerous:
Price

There are multiple categories of Luminous inverters that support the solar installation. It starts from 1.5KVA and we have other luminous inverter[url] http://www.kara.com.ng/luminous-power-inverters models [/url] [quote author=bobojoshua post=40867757][/quote]

This much awaited Infinix Hot Note 2 posses an impressive octa-core processor for heavy duty processing.
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the most recent price of the product is N23,400 for update you may check http://www.kara.com.ng/tecno-j7-boom-smartphone

Donpuffy:


Please bro explain the APP123 coupon better. so we can enjoy discounts with you.

this is the latest information on LG freezer prices
http://www.kara.com.ng/index.php/lg-refrigerator-and-freezer

bebe2:


Ok I shud have explained.

I need a good tv and fridge freezer for my 80yr old mum.

Basic tv. But flat screen.

D-link switches are great. They have released new models http://www.kara.com.ng/d_link

rexfada:
Please I need assistance here. I have an mtn hynet modem that I want to connect to a dlink 500N Router. I've tried every means within my disposal but i have not succeeded. I have read both devices' manuals over and over, downloaded videos from youtube, still unsuccessfull. I think the issue is with the mtn device, because I configured my router correctly, so i shouldnt experience any challenge when connecting the hynet. But when I connect the hynet with a switch (dlink), it connects perfectly and even supply internet to the router (cos the router is connected to the switch). But this is not the kind of connection I am looking for, I need the hynet to connect to the router cos I need to do port forwarding with the router. Please any idea on dealing with this issue is highly welcomed. Thanx brothers!

You may contact us at kara esales@kara.com.ng and we can link you up to the distributor to help you get a copy of the manual
http://www.kara.com.ng/cooker

busolayemi:
Pls if u use d nexus gas cooker...does d oven use electricity??....it has a cord and d cooker is all gas....nd d manual's been misplaced

Shop Cyber Monday deals and sales at ‪#‎karacybermondaydeals‬ and save on mobile phones, electronics, home appliances & more at prices you will love today.

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Enjoy the Craziest Deal of the Year.

try Kara bumper sales for black friday deals
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Generalkorex:
is there any coupon code for black friday.

Start tracking your car or company fleet vehicles today with Tramigo T23 GPS/GSM Car Tracker
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blaze007:
a brand new cisco 2960, 24 port switch for sale!!! asking price 100k.

price of Cisco Poe Switch starts from N125,000 you can check this @ http://www.kara.com.ng/cisco-poe-switch-with-gigabit-uplink-sf300-24p-24-port

The price of Tecno Droipad 7 has recently changed to N21,000 http://www.kara.com.ng/tecno-droipad-7c while the Tecno Droipad 8 is N30,000. http://www.kara.com.ng/tecno-8h-tablet I am posting the links at the price may change.

romeoetin:
Display and Camera
Tecno DroiPad 7 packs a large 7-inch
diagonal touchscreen with a resolution of
1024 x 600 pixels for a pixel density of
170 pixels per inch, which is rather low to
offer impressive clarity, but is okay for
the price. It is smaller than the DroiPad 8 ,
which has an 8-inch screen.
The IPS panel should deliver decent wide-
angle viewing. The tablet did not impress
much in terms of camera configuration
either. Tecno 7C features a 2-megapixel
main camera with LED flash and
autofocus. You also get a VGA (0.3-
megapixel) front-facing snapper for
whatever selfie quality it can give you.
Hardware and Software
Driven by a dual-core MediaTek MT6572
processor, the Tecno DroiPad 7 offers
decent performance. The CPU, which runs
at speed of 1.3 GHz, is paired with a
manageable 1 GB of RAM and a Mali-400
GPU.
What is, perhaps, most significant about
Tecno DroiPad 7 is the fact that it runs
on Android 5.0 Lollipop mobile operating
system, putting enhanced features and
amazing capabilities in the hands of
users.
Other Features
Tecno 7C comes with inbuilt storage of 8
GB, which is extendable by up to 32 GB
using a microSD card. Tecno provides a
powerful 3000mAh battery that should get
the tablet running for several hours on a
single charge.
The tablet supports 3G connectivity,
Bluetooth 2.1 and Wi-Fi 802.11 b/g/n
with Wi-Fi Direct and Hotspot. It also
supports the use of two SIM cards at the
same time, removing the need for carrying
multiple devices around. Tecno DroiPad 7
features GPS with Assisted-GPS for
finding your place easily anywhere you
may find yourself.
Pricing and availability
Tecno 7C is now available in Nigeria. You
can now buy the Lollipop tablet at leading
online stores in the country. Tecno 7C
Price in Nigeria starts at around N26,000.
Tecno 7C DroiPad 7 Specs
Here are a few specs of the Tecno 7C
DroiPad 7 Tablet:
General Features
Platform: Android 5.0 (Lollipop)
Processor: 1.3GHz dual-core
Processor
GPU: -
Memory: 1 GB RAM
Colours: Black
Dimension: 216 x 124 x 8.7 mm
Weight: -
SIM Type: -
SIM Count: Single SIM
Display
Display: 7.0-inch Touchscreen, 1024
x 600 pixels (169ppi)
Display Protection: -
Camera
Rear Camera: 2 MP Camera, Video
Rear Camera Features: Geo-tagging,
autofocus, LED Flash
Front Camera: 0.3 MP Camera
Storage
Built-in Storage: 8GB Storage
Memory Card Support: -
Bundled Cloud Storage: -
Network Support
2G GSM: 900 / 1800MHz
2G CDMA 1X: No
3G WCDMA: 2100MHz
3G CDMA EVDO: No
4G LTE: No
Internet & Connectivity
GPRS: Yes
EDGE: Yes
3G/WCDMA/HSPA: Yes
HSPA+: No
CDMA EVDO: No
4G LTE: No
WLAN: Wi-Fi 802.11 b/g/n
Wi-Fi Hotspot: No
Bluetooth: Yes, Bluetooth 4.0
HDMI Port: Yes
Infrared Blaster: No
USB Port: Yes, microUSB 2.0
Messaging
SMS/MMS: No
Instant Messaging: Yes
Push Emails: Yes
Email Protocol: -
Entertainment
Music Player: Yes, mp3, WAV, FLAC,
eACC+
Video Player: Yes, MPEG4, H.263,
H.264, XviD
FM Radio: No
Loudspeaker: Yes
3.5mm Jack: Yes
Navigation
Navigation: Yes, GPS
Maps: Yes
Sensors & Control
Digital Compass: -
Accelerometer: Yes
Proximity Sensor: -
Light Sensor: Yes
Barometer: No
Pedometer: No
Gyroscope: No
Fingerprint Scanner: No
Iris Scanner: No
Intelligent Digital Assistant: -
Motion Sensing / Gesture Control: -
Voice Control: Yes
Other Features
Video Streaming: Yes
Traditional Voice Calls: Not Sure Yet
Wireless Charging: No
Digital TV: No
Water Resistant: No
Dust Resistant: No
Image Editor: Yes
Video Editor: Yes
Document Viewer: Yes
Document Editor: Yes
Battery
Battery: 3000 mAh Battery
Use Time: -
Music Playback: -

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infinix hote note pro delivers on its promise. We also sell them online at Kara http://www.kara.com.ng/infinix-hot-note-pro-smartphone

Jhonnyboy:
Just a few months after the release of infinix hot note. Once again the manufacturers are teasing us with the INFINIX HOT NOTE PRO.
Check out the reveal video
Infinix Hot Note Pro Review -
Jumia Mobile Week M…:

https://www.youtube.com/watch?v=JBuJ4t9c2Bs
Increased RAM to 2GB
Increased ROM to 32GB
Increased Camera to 13MP
Full HD
All others remains constant
5.5inch
4000mAh
Octacore

Jinling is becoming very popular, Noise can be disturbing but there is a compensation in the fuel consumption. Jinling generators are now available for sale on Kara website.

We currently have two models of Jinling generators. 2.3KVa @ N51,800 and 2.8KVa @N57,500 further update can be seen at Kara http://www.kara.com.ng/jinling-generators

seal777:
@shithapuns,
My flat screens are 49 watts and CPU are 2.7 amps don't really know how to convert that to watts, my bulbs are original ATK power saving bulbs.

All my utilities are power saving utilities cos of the pressure of light, i run a 4yrs old Jinling 2.0 KVA generator for an average of 10 hrs daily on 12 litres of fuel, earning N300 per day giving my chemist shop neighbor ( 2 POWER SAVING Bulbs, 1 FAN, SMALL TV) power 6pm to 11pm everyday.

I am not really pressed with the light issue, though if there is light i will save more on daily basis. JUST THAT I HATE THE NOISE THING OF THE GENERATOR.


I don't really think i can invest that much on inverter especially for commercial purpose but will be willing to have one for personal use mostly nights, fan, lcd tv and bulb.

I am confused on which onw to get to suit my private need, so much choice and experiences from consumers, will surely make up my mind based on the experiences i have read here next week.