₦airaland Forum

Ishilove:
Is it that people can't do simple arithmetic or comprehend?

He was caught in 2010 and spent 6 days in gaol.

Between 2023 and 2024, he spent 409 days behind bars. That's one year, forty four days.

Total time spent in prison, one year, fifty days.

He has now been sentenced to 2 years in prison with hard labour. The court however granted that the two years should be with time already served, so he is technically going to serve less than a year in prison for the crime he has been convicted of.

Is it so hard to comprehend??

The reportage is confusing.
He was caught since 2010 that was is 15years ago , except he was release on bail all this while while awaiting trial which is practically impossible given the circumstance (a foreigner) and the crime (drug related).

fergie001:
Premier Laeague




Southampton FC

Even IPW and LEI,
No way on earth can wolves lose 4 or 5games with the either not dropping points too.

I am just so surprise at LEI, the hopes that they had at the King power stadium when they on the championship was just dashed like that.

Ruud just drag them as he could have ManU

NothingDoMe:
Alternate moniker? No worries. See attached statement. Show me the 140% Surge from the statement based on your comment about returns.

Let's assess your financial intelligence.

Attached is the Statement of financial position which shows not only that the company has a 114% increase in profit, but also a 115% increase in EPS.

GeneralDae:
The point is that Total did not lose in dollars.

You do not need to stress yourself, seems he has no good grasp of what a financial statement entails.

It is very obvious that no matter how one look at it, Total energies made a profit.

NothingDoMe:
Alternate moniker? No worries. See attached statement. Show me the 140% Surge from the statement based on your comment about returns.

Let's assess your financial intelligence.

Oga, this one you show na balance sheet now,
The balance sheet shows financial position, this is different from a P&L which shows financial performance of a business
we are talking about profit not retain earnings.

NothingDoMe:
Someone will look at this and say hey he has a point but will forget that you didn't use the actual income in your calculation. This is how people lose money to scammers.

So, let's apply your Naira value to actual figures:

N635.9b/N650 = $978m in 2023
N1.04T/N1500 = $693m in 2024

Your own calculation is even worse than mine as it puts the loss at $285m.

Oga @GeneralDae made a more valid point as he proves that even with the depreciation in Naira, the company still makes profit either in Naira or dollars no matter how you look at it.
na your own calculation will make people lose money to scammers o.
Let me ask this simple question, if you invest in a company, will you be expecting to get your returns on investment from their revenue or their profit?
There lies your answer sir.

adeniyi65:
How can I buy shares from their company pls.

Modified: checked some comments and later realized that the news is just a gimmick. What's the essence of increased profit you declared you make 2024 which the value of less one you made in 2023 beat to the ground. Na them know .

If we are to use your logic then no one will invest in any Nigerian company again because the billions they all are declaring as profits today are less in value to the millions they were declaring when exchange rate was 400 just about 5years ago.

You see Nigeria case is take what you have, because if you also compare the 2023 profit to 2022 in Dollar terms you will see that previous years are always better than current year in USD terms while Current years are always better than Previous in Naira terms. Sing you want to buy a share in Totalenergies Nigeria then why worry yourself about the FX equivalent of the profit declared.

Asonaijaaso:
This logic is naive.
1. FX losses reduce taxable profit — but do not affect cash profit the same way.
2. Reporting profit in Naira in a hyper-devaluing currency is meaningless without purchasing power parity adjustment.
3. Translating profit to USD matters because dividends, expansion, and global valuation rely on hard currency, not worthless local notes.
4. They made “profit” on paper — but operational reality could be deteriorating if margins are FX-sensitive.
5. Comparing Naira profits to actual wealth creation is like celebrating monopoly money.

Big profits in a collapsing currency = Optical Illusion.

Numbers without context is the first sign of accounting ignorance.

I do not overstand what you imply by saying the logic is naive.

What I stated are basic accounting principles as stated by IFRS which is globally adopted bar some countries.

- Sure FX loss reduce taxable profit and in general, the net profit, so what is it about not affecting cash profit?
- You report your financial statement solely in the country you are registered in. Or have you seen any company not registered in Nigeria reporting its Financial statements in Naira?. The Logic you report your account based on the currency you traded with. The standard allow for the recognition of FX loss.
- You probably skipped that part where I wrote that translating is only necessary when reporting as a subsidiary to its parent company in France. The translated account have little or bearing with customers and investors in Nigeria. The stated profit is what will determine the CIT and the PAT will determine dividend amount that will be declared.
- They do make profit both on paper and operationally, why you are thinking otherwise is you are not seeing Totalenergies Nigeria as a separate legal entity from its parent company, because if you do, you will not be viewing the declared profit in FX term, which even in this case still amount to substantial profit
- This your last point I can not disagree given the purchasing power of the Naira presently.

Asonaijaaso:
They are using the Dollar to Naira exchange rate to confuse the illiterates amongst Nigerians.

If they have made this much profit. They should state dollar profit in 2023 and the dollar profit in 2024.

All the major oil companies around the world had tepid net revenue for 2024. Mobil, Shell, Aramco, Eni, BP

If you buy a pencil for $2 when it was 400 naira thats 800 naira

You now sell it for $1 When it is 1500 Naira. You can either call it a $1 loss or a 700 naira profit.

But we all know Total oil sales is dollar denominated. Why are they reporting profit in Naira

Dont let them keep deceiving you. Let them announce the loss in dollars.

Audit does not work that way.

The company is registered in Nigeria, so the financial account have to be Naira denominated, it is when they are reporting as subsidiary to the parent company that they need to report in Dollars.

So when reporting as a Nigerian company which they are currently doing (because they are registered in Nigeria) they report in Naira. and to arrive at that profit, they must have already accounted for loss in FX which is an allowable expenses.
Thus, TOtalenergies actually make that profit and even if they go on to convert the account to dollar, it will still amount to profit.

SeeWahala:
Benue people who wore zoogeria army uniforms to attack Igbos during the war are now being decimated in their own backyards and driven out of their ancestral homes

God never sleeps 😉

Truly God never sleeps, Just like Enugu people too are suffering because of their participation in the genocide as reported in this thread

https://www.nairaland.com/8375417/herdsmen-overrun-enugu-community-burn

Osiris12:
benue people never see anything.

Herdsmen will eventually finish up where cultism left off .
Legendhero finally disgraced his father in a public forum .

Get ready to pay d 50k oloshi

Yesss ooo and Ndi Enugu too
https://www.nairaland.com/8375417/herdsmen-overrun-enugu-community-burn

blessing12345:
My dear juju is real during my university days, a man gave a boy 1000 naira as food money because the boy came to beg him, thereafter after giving the boy money, he found out that his 9000 naira he Withdraw at zenith bank dissapeared from his pocket, something in him just told him to call the boy back, when he called the boy back as he also alerted the security man, they searched the boy and they found about 50,000 naira in his pocket, the man was surprised and told the boy that u have all this money and u are still begging and then the boy confessed that he has a jazz and charm that anyone that gives him money all the money in your bag and pocket will enter into his pocket and that his y he's begging so DAT people money will enter into his pocket as he is begging them.

If thats tru, why did he not go and deposit the money in the bank so that all the money in the vault/ strong room will disappear into his pocket. and again why was he having 50 exact, or was he only targeting people with 10k in their pocket? .
Africa with juju yet our juju couldn;t help us against the white when they come and colonize us and use our fathers as slaves.

Davepal:
Go and track your phone through Google Gmail Account. You can see the last location of your phone, and when the phone came online. You can even send a warning to the new owner. Format the phone and ring the phone from your end.

guy this format no dey work for nija. I once tried it with the fone I was tracking right beside me. the phone only rang after 2minutes of sending the request, the warning message did appeared after some time but it was inconsequential. the location thingy na him spoil the show. phone wey dey beside me yeye Google dey tell me say na Niger republic be the last location. mind you if the phone you are tracking is off, Google no fit tell you.

seunmsg:
COREN is the only professional certifying body for engineers in Nigeria. ICAN is not the only professional Accounting body in Nigeria. So, you can now see the dangers of allowing multiple Accounting bodies in the country. If ICAN is the only professional Accounting body in Nigeria, we can in all honesty demand that it should do more for Accounting graduates. But as at today, we have other bodies like ANAN and CITN. ICAN cannot be fighting for Accounting graduates who may end up joining ANAN or CITN.

Oga why you dey talk with both mouth,why shot yourself in the leg trying to defend the obviously indefensible. the inability of ICAN to make it mandatory or at least fight for Accounting graduate to be posted to place of relevance during the NYSC scheme is never because of the multiplicity of the Accounting professional bodies but because all graduates irrespective of their discipline are potential members.
So it becomes difficult to fight for all corp members to be posted to place of relevance. Also I guess you are already well placed that is why you are defending ICAN this much. you need to see the plight of qualified accountants who are being molested, overworked and underpaid in the private sector, Chartered accountants being offered 30k or 40k monthly pay and worst off you see big wigs of ICAN heading such organisation. What is ICAN doing about the welfare and pay package of it members other than milking them of the little they earn in name of subscriptions.

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I think this is intended for me; thanks of

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The Jagaban

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hmmmm

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Irrespective of the irregularities, at least the children should have been put into consideration or better still an alternative accommodation be provided for them


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