₦airaland Forum

It is wrong for the Lagos State Govt to collect people's equity contribution and then refuse to complete the houses.

Why can't the new governor build on the success of the previous one?

2 - 2

Yes o. Information trending on twitter so we need to confirm.

Meaning he is officially no longer a senator, since the highest court for a senatorial election is the court of appeal.

sonnie10:
Educate me more.

A summary of the monetary policy meeting:


In summary, the MPC voted to:
(i) Reduce the CRR from 25.0 per cent to 20.0 per cent;

(ii) Reduce the MPR from 13.0 per cent to 11.0 per cent;

(iii) Change the symmetric corridor of 200 basis points
around the MPR to an asymmetric corridor of +200 basis
points and -700 basis points, around the MPR.

The MPC emphasized that the liquidity arising from the reduction in the CRR to 20 per cent, will only be released to the banks that are willing to channel it to employment generating activities in the economy such as agriculture, infrastructure and solid minerals.

What this means in English language is that

1. CBN used to lend to banks @ MPR + 2% and accept deposits from them @ MPR - 2%.

2. Going forward they will still lend @ MPR +2% but will only accept deposits @ MPR – 7%

3. All of the above changes are designed to increase liquidity in the banking system, crash short-term (and hopefully longer term) rates and provide an incentive for banks to increase their loan book.

4. The liquidity arising from the reduction in the CRR to 20 per cent, will only be released to the banks that are willing to channel it to employment generating activities in the economy such as agriculture, infrastructure and solid minerals. (In other words, production and not consumption)

sonnie10:
Now people would be able to borrow at 11% to buy Tb at 13% or even mutual funds. I see a lot of internal lending deals in the banks.

A situation were a manager would lend himself #500M and make 2% of that right away. Cool #10M!

LOL......MPR @ 11% does not mean banks will lend @ 11%.

Also, TBill rate for 91days has dropped to about 5.6%

OsamaB:
You do have a point there, that's what I meant by someone giving a SWOT analysis because I gave the weakness and Threat of the move and that my friend is an opportunity and potential strength. Please try as much as possible not to insult or discourage people to comment. Urs may be optimistic while others may be pessimistic, but a combination of this is what can make Nigeria great some day

Sorry about that.......that was my finger itching. I tried to remove it before you quoted.

OsamaB:
And the last I checked, we are still a high consumption country. I thought I just told you told u "your Daddy "

And if the objective of the government is to encourage investment in production?

Is that not the reason for driving down deposit rates and now lending rates? Won't this encourage people to engage in production rather than saving money in treasury bills and fixed deposits since the rates are now quite low? Consider that the cost of funds is now expected to go down slightly.........

OsamaB:
So much money in circulation, isn't that gonna lead to inflation?

Investing in consumption drives inflation. Investing in production does not drive inflation.

OsamaB:
Lol, Sharpman1...Kindergarten analysis may be the best for people like u who have nothing so say regarding the move. Unfortunately we r not able to read ur opinion nor view so perhaps it it will be at ur best interest to know analysis don't need to be complex but that kindergarten analysis breaks it down for smart (people who r willing to learn) peoples understanding.

You don't seem to understand.

My point is your comment does not in anyway have any bearing to the move by the CBN (i.e reducing MPR from 13% to 11% and reducing CRR from 25% to 20%).

Before i decide to engage you, can you please define and explain what the MPR and CRR means and how they impact interest rates and the economy in general. (hint: feel free to use google).

OsamaB:
Lol. What this means is that the government is less attractive to foreign investors. Existing ones may pull out while potential ones will look else where. Nigeria may no longer have the largest foreign direct investment like we previously did. It means we Nigerians will have to depend on our selves, build our own industries, farms and refine our own raw materials. To further understand impact of this move, you can do a SWOT analysis on the matter.

What sort of kindergarten analysis is this

Foreign shirt and tie. He for dey wear our local clothes na.

Looking like Obama but thinking like Obanikoro.

...

Training to use facebook??

Would the training be for free??

.

Hi guys,

It seems like our regulators have woken up and have decided to have no chills. Are they all trying to impress Buhari ni?

NAFDAC recently slammed an administrative charge of N1 biliiion on Guiness Nigeria plc.

See attached the letter by Guiness informing the Nigerian Stock Exchange of the fine.

What could have warranted such a huge fine?

CSTR2:
I apologize.
My bias got the better of me.

You be correct guy!!!

CSTR2:
Even forbes acknowledged that okechukwu enemalah was the one tipped for the job of the finance minister atleast by sensible people based on their strength of their respective pedigrees.

Was the one tipped? Where did you get that from? Comprehension is really hard!!

To help you, here is the Forbes statement

Okechukwu Enelamah, head of the private equity company African Capital Alliance who had also been tipped to become finance minister, has been sworn in as minister of trade and investment.

In terms of pedigree, Okechukwu Enelamah is the most suited for Trade & Investment in that list.

.

bigfizh:
its per month, see monthly rate in the attached new rate guide, 1-m , 2-m, 3-m, note that Month is abbreviated as m, and interest rate varies, depending on how many months you are booking for in some cases while in other cases interest rate remain the same in respective of the tenure

You've got jokes! The rates are per annum not per month.

silverdam:
Popular nairalanders Silverdam (Tosin Silverdam) and Mrvocalprowess (Onyx Godwin) hang out at Ikeja City Mall. We had fun, lunch and gossiped.


Lalasticlala, ishilove see us ooo

No be only popular.....u for call yourself populous. I no know who sabi una before.

Potential gay couples hanging out....and gossiping?!!

Meanwhile, who is the He and who is the She?

CSTR2:
Then why did your govt open the border for total rice imports?.
You don't want to devalue your currency, and yet you are allowing even more rice imports especially when we have a local alternative.
Your govt is probably the most confused in the world.

Local alternatives?? What local alternatives?? Where?? We produce enough rice locally to meet our consumption?

Those expecting President Buhari to address the UN without reading from a written speech are quite funny.

Even the UN Secretary General, Putin and other speakers have not addressed the United Nations without reading from a prepared speech.

One sentence for you.

Ode ni e!!!!

CaptPlanet:
You must go to their office to register. Can a phone take your fingerprints? Duh!

Just seeing this. Olodo!!!

Who said the phone will take finger prints??

Emphasis was on the time that will be spent filling up data in their office.

Happiness87:
you sure say you read the news at all or na the headline you read,

I just dey see this sha......

If you register online and fill in your data before going to their office, you will only need to visit their office to capture your bio-metrics. That reduces the time you will spend queuing to have your data and bio-metrics captured.

Your boyfriend, I hope he is now an EX-boyfriend, is a SCAMMER!!!

You should end the so called relationship sharply and wait for someone who is worthy.

Dejohnbull:
Rubish if fg cant fix less than 90km uyo-odukpani in sixteen years, how will dullard of daura fix 240km of less economy road?

Some peeps can't read!!

Lots of educated illiterates around here.

Thats a great idea. No time wasting to go to any office to register.

Enjoy the pictures

Saw these pictures and decided to share.

The Ekiti State Governor, Ayodele Fayose was said to have caught late comers at the Ekiti State secretariat this morning.

Pictures attached. Enjoy!!!

It seems the Jagaban is interested in this Falomo project, that's the only reason why I think the current Lagos state government will want to reverse what looks like a fantastic deal.

I am sorry for the Governor, he may be on a path that will eventually destroy him and his god father. He will give account after 4 years.

10 months is a long time.