₦airaland Forum

Hard work pays, but hard work doesnt guarantee success. Smart work coupled with Baba Gods touch. If hard work alone pays, truck pushers will be the richest.

Have you ever wondered why the poorest people do the hardest jobs ? in a manufacturing company, the factory workers do the harder work and work in shifts, while some (educated ones) sit in their chilled office but are paid more when month ends ?

Olumyco:
OP exchange rate does not determine the value of a country's currency.

I think weakness of a currency should be in terms of value.

A currency value is its purchasing power.

Also in currency denomination, a country can decide to adopt any style... it is the economy of the country that shows the true value of its currency. A country with high denomination can still be higher in value than a smaller denomination.

I repeat the purchasing power of a country's currency is the key factor when it comes to strength.

See like Cedis

Cedis was recalibrated around 2007/2008. Ghana removed 4 zeros from their money.

Its also called redecimation or redenomination.

There is a reason why economics must be applied to anything that has to do with money.

1 Cedis was 10, 000 cedis before 2007/2008.. Even up till now in Ghana many of them still refer to 100 cedis as 1 million.

Normally it is economy plus some other economic principles that shud increase the value of a currency and not manual methods like recalibration.

And to prove that nothing serious has changed in Ghana with their recalibration.

1 cedi = 75/80 naira

1 cedi will buy 5 sachets of pure water while 75/80 naira will buy 7 to 8 sachets of pure water.

Infact when the recalibration was done it was 1 cedi to 1 dollar but now because of economy instability.... the cedi has dropped and it is now being exchange for 4/4.7 cedis to 1 dollar.

Further more exchange rate is being determined by many factors that has to do with economics. Economic policies play a major role in exchange rate determination.

A country can decide to increase or decrease based on the economy of the country.

When an economy is dependent on dollar for import there is tendency that the economy will be controlled by dollar and in dat case if you want to decrease the way your dollars go out since import is more than export (meaning dollars going out is more than dollars coming in) then you have got to increase the dollar exchange rate to favour the dollar from going out easily and too much.

So in short dollar economy is all about trying to preserve your foreign reserve... when you have more dollar reserve... because export has increased.. then you can decrease...

Well... thats just it.

I will want to shock everyone here that Nigeria foreign exchange reserve is higher than that of South Africa. We even have more dollars than them. Infact Nigeria had the largest foreign exchange reserve in Africa.

Guys the best thing we need to do is to study economics... economics is something everybody in the world needs to manage finances since we spend and earn money. This will enhance our understanding of Forex and currency economics.

Thanks

Are you presently in Ghana ? Its been long i last visited.

i have been to Ghana several times, and i tell you our Naira makes sense o. 10cedis is approximately N1000 (last i visited), but what 1k can get, 10cedis wont buy up to quarter. Their money burns out fast. A bottle of water cost up to 4cedis, pepsi is about 5cedis or so (N500). I eat a balanced diet here in Lag with N300 (x3) and have change for card, but i went to a bukker and the woman says rice starts from 5cedsi (no beans, plantain ... yet )

With 1k in naira, you can feed three square meal, but the equivalent in Ghana (10cedis) will only cover for breakfast. As for fuel, transporters dont even think of buying their fuel, we load fuel in our trunks for our return journey. Pump price for fuel in Ghana is up to 3.80 cedis (do the maths)

Our Naira still has a higher purchasing power. what we face is bad leadership in Nigeria, if not, Nigeria would have been a home to all Africans.

emerged01:
How is Ghana's cedis the strongest?

They only removed zeros, Our Naira still has a higher purchasing power

Seriously speaking, I like what's going on in Nigeria, power is gradually returning to the people. with the advent of social media, rigging haven't been easy cause every one of us has a copy of the election result on our screens.

Ekiti people should decide who governs them regardless of party, collect their money, vote your preferred candidate, at the end of the day give yourself a nice treat with the money shared to you.

If Nigerians could unseat an incumbent, it shows we are making headway .

who seats in Aso villa come 2019 is up to us to decide, neither APC nor PDP will decide our fate.

Without religious sentiments, there's truth in what he said. Africa has gotten it all wrong. Faith without work is dead.

Nonsense. Bad damage control strategy.

People have been killed even before PDP era, that doesn't justify the recent killings.

what they shld say is " We are putting modalities in place to begin investigation ". Simple

The biggest names in the fraud industry are yorubas. everywhere dey go, they Wire but are fond of pointing finger and laying blames

This is a poorly planned setup. no one will order a murder and leave an evidence behind
I bet it's not the wife of the man that arranged this

See how quiet the thread is. If the guy happened to be an Ibo guy now, some people will be barking as if they are perfectly sophisticated

Enuf of the hyping, play game and giveus goals and not Swags

cutefergiee:
Dont mind my inquisitiveness sha..
Have always wondered how ppu differentiate dis groups Dem..
Can someone explain with their identity which one is
Vikings
Bucaneers
Axe
Aiye
Eiye
Used to fink axe Na buca tho..
Just curious tho

Pirates ( seadogs )started it all. Bucanners broke out from pirates due to misunderstanding of the fraternities ideologies. They believe every dog has a master and his master is his lord hence them call themselves Sealords. They Love yellow, are alsoknown an fine boys or bucket menm
The vikingsalso broke out from pirates . They wear Red Pirates have long disassociated themselves from all splinter groups cause of their violence nature.

Blackaxe started in Benin. They hide under the formal name of NeoBlackMovement (NBM). Their street name is Aiye or Axemen. Their ceremonial wear is white and black with yellow socks and yellow ribbon on the beret. They are everywhere. Benin, calabar, Lagos,delta

Eiye started in the south west, also called Airlords. They wear blue beret or a touch of blue. They flock together most times and are seen as street urchins.

There's also Maphite aka green circuit, they started in Benin too. They wear green beret. You might mistake them for Mopol at night. They are really chancing Axemen in Benin

Theres also Klansmen. They operate mainly in Calabar, Uyo

In all, shun cultism. It doesn't pay

So I was born on the same date with Her? and even abdulsalami abubakar

I always knew people like us will be great.

Happy birthday to us jare

Their village people unduly welcomed them

intruxive:

Chai more fire on these igbos.... they cant believe buhati just soccer punched them.

Wetin concern Ibos here? Ibos give some of you night mare

Because they do not understand the Power of the GOD they serve
Christianity to them is just a religion

Who else saw a drum of Holy Water?

I just hope he is a Criminal and not an innocent Victim.
The dead can't defend themselves

The biggest names in the FRAUD industry today are YORUBAS. from lekki to UK to USA

So stop shout Ipob and Flattino when next you hear a " CHINEDU " was caught in Thailand doing drugs cause you aren't perfect.

Nigerians have daunted their image outside the shore
of this country, that's why USA and CANADA will continue cancelling/rejecting our visas applications

shout out to every Legit Internet hustler, Oluwa bless your hustle.

fasho01:
Go to Canada joor.. Is that one hard to decide again

And be plucking money from a tree in Canada?

I rep FGC PH, Charity house to be precise.
if you passed through that school from js1 to ss3, you must be a hard man by now.

from early morning jogging to dinning to classes. after classes, you go for labour/prep/games

FGC was fun sha and very tough. had to sleep in classroom block and dinning hall several times because I missed labour.

remember Ceifa Dangana, Obinna tout, and many bad niggas that might be dead by now.

some punishments and midnight rising made me think I would die that day but I survived.

FGC babes make sense but we were always attracted fo FGGC Abuloma babes which made our girls jealous. it was fun sha

Nigerian girls be forming usher and worship leader on sunday but will hide behind their phones and be admiring egg plants.

most of the comments there are from ladies wishing to have a feel of his dck

Welcome home Sir

Even the dead can't rest in peace again, na wa o.
pls get ur pvc ready

Blessynokoro:
tufiakwa

Life has become meaningless in this country

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how does it work? I hope it won't make me butcher my woman also?

what will our eyes not see on Internet. from accident victim to trailer crushed victim to Boko Haram to herdamen victim. everyday blood is being shed somewhere in Nigeria.

the mods should also remember that kids could be viewing.

divide and rule is what APC will use in winning 2019 election. instead of joining forces together, people are springin up in different partied to contest. votes are split between, sowore, markafi/atiku, Moghalu e.t.c

if we must get them out of power, we must come together and present a candidate

I personally prefer a Durotoye to Sowore. Apart from activism, I don't see him as a sound person fit to be president

divide

OBJ was one unbiased leader Nigeria would ever produced. he is never tribalistic and believes in one Nigeria. OBJ toured all regions of Nigeria comfortably with cronies in every region.

I still respect that man till tomorrow

moreover, I don't see him as a strong force in south west politics again cause Tinubu has hijacked grass root politics in S/west. if Buhari decides to probe him, he'll have very few support from his region.

what is his offence?

OBJ shared the national cake equally making no region feel left out. he has development strides in every region. he was never a " favour my region " kind of politician and that's why yorubas aren't so happy with him. they expected more from him. In Nigeria, we are so selfish. we practice politics of selfishness. everyone wants someone that will favour him or his region more. they wanted him to bring all the cake to s/west region like awolowo did but he choose Nigeria instead. if you ask most yorubas what they don't like abt OBJ, they'll be fast to point out the roads leading to otta he didn't construct and how he didn't help move the region forward. what about roads to other cities/villages he constructed? same way some Niger deltans complain abt GEJ and how he didn't develop his community.

we have to drop this selfish nature of me and my region first if we must move forward.


if OBJ or Buhari has evidence of any kind against each other, they should present it while we watch another season of BIG BROTHERS NIGERIA

do you know that your suffernig today doesn't determine your well being tomorrow? some were born poor but later became rich (grass to grace) , some were born poor and died poor, some were born rich and remained rich while some were born rich and became richer.

no one gives a hoot if you were a bus or plane conductor, you are still not better than Davido, Otedola, Ibrus that never tasted poverty.

funny pics. from all I saw, I learnt one thing today ; CONSISTENCY pays.

no matter what you find yourself doin today, just be good at it and be consistent. this guys we laff at their pics have been in their fields for up to 15yrs