₦airaland Forum

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you can't have me, neither control me, but i can have u and control you, What Am I?

Raydos:
Pussy

lol nope

you cant have me, neither control me, but i can have u and control you,What Am I?

blizzers:
no

need more example or is it like b2b?

blizzers:
can you build something similar to this kindly pm me for a task i have at hand that i can`t handle, a client of mine wants something similar to this. http://www.checkatrade.com/ if you can do this pm me.

trying to figure out what it really about u got some niche examples?

am available to design ur site for u, less than a week completion, can be dynamic or static. sites designed
http://www.makeisell.com http://www.tcare.com.ng
waiting for ur rp

post ur worries here let me help out, if i can't, someone else will.

During a nusery rhyme little mimi came out boldly to say hers, she started well,

sanda lilly sanda lilly
sanda lilly sanda lilly
sanda lilly sanda lilly sanda lilly sanda question
I am a doctor in my country... she got stuck, and confuse, determined not to go down like that she decided to improvise and continued... theres a doctor hiding in mums closet, my daddy knows him well, if you ask mum over there she will say that its true.

mokane28:
Sorry i don't mean to derail thread, please someone help me with advice, i have a car i want to sell and i have been trying to post in auto section but the anti-spam bot there keeps banning me once i post, how do i solve this?

post am here www.makeisell.com

want to sell it? post it here.
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heres my advice keep doing what u doing with her pester her like ever b4 if she says no relax but not too relax, now wwhy all this is going on have another that is given u what u want untill the so called virgin come around simple as that, peace am out, dropped the mic now am looking for the door out of here.

am planning to start one by jan hope every thing goes as planned will get in touch with u

lol u funny oh, Nigeria police never solve there problem towards people na towards computer them go come solve dey wait he will get back to u

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Bethelwealthy:
one of the options should be "God Forbid!"

hahahaha aya bros sorry

i bet we all want to know if we go use our hand put this man inside government again.

so make we make small poll

if you still want am for presi click "like"
if you no want am for presi click "share"

ajasbaba:
you be mumu,i want you to get first hand and reliable information.


you are just typing nonsense.

your brain need medical attention.

simple sentence you cant understand

obote i understand thats y i gave u that reply

ajasbaba:
go to the embassy and confirm.

zombie why should i go there when am asking here, if u dont know say u dont know, dont think so, not sure, heard something like that or simply pack ur pone for one corner

been told that hausa at the embassy get visa swiftly than any other national, is this true or just rumour?

how much?

hannyjay:
When a fool get 10MB

when a slowpoke knows how to type.

u guys made it a do or die affair, now that he is in how do u feel, u getting promises he made to you? i bet all those under 16 kids who u guys push to vote will be thinking of slaping sense into you all.

was it d free roaming of cattle that he promised u all that u wanted or just wanted to have an hausa leader by all means to push in islamic ways into nigeria.

i hope you people arent complaining like the rest of the nation is, because you Northerners are prone to living hard life, i guess you all wanted us all to suffer like you all like to do, well enjoy it while it last, ur buhari aint coming back and he will be known for 2 things.

1 best Nigeria president (opposite)
2 most travelled president.

Swegzfreak:
do you have any for sale?

yes

in naira when using black market rate thanks

jpphilips:
How old is this news?

how old d news shows he saw all the part to failure and still took it and still taking it, thats how old it is

AZeD1:
OP
This is October, that article was published in January.

yes i know, havent u gotten it? he proberly saw all that with china and their own policy and how it didnt go well but still decided it best for us, now how has it helped the economy

The Financial Times UK has described the
economic policies of the President
Muhammadu Buhari administration as the
‘height of foolishness’.


The leading international business publication
in an article by Steve Johnson, the deputy
editor of the Financial Times, said the
economic policies of the Buhari administration
is doomed to fail because it is tailored after
Venezuela’s exchange rate policy and China’s
failed equity market strategy.


The article faulted the circuit breaker on the
Nigerian stock exchange which pauses trading
for 30 minutes if stock prices fall 5 per cent
and will cease for the day if it is triggered
twice in a session, or after 1.45pm.


It noted that this month, Beijing abandoned a
similar policy after just four days, stating that
in a falling market the existence of the circuit
breaker encouraged more selling as traders
rushed to exit while they could.


Quoting John Ashbourne, Africa economist at
Capital Economics, it said:
“It is hardly confidence-inspiring that Nigeria is
copying a Chinese policy that is widely seen to
have failed.”


See the full article below:
Nigeria plans to create a $25 billion fund with
public and private financing to modernize
infrastructure and avoid a recession.


Copying Venezuela’s exchange rate policy and
China’s failed equity market strategy might
seem the height of foolishness.


But, at least in the opinion of John Ashbourne,
Africa economist at Capital Economics, that is
precisely what Nigeria, the continent’s largest
economy, has just done.


“Low oil prices are battering Nigeria’s export-
dependent economy, but it’s the government’s
market-distorting response that risks pushing
the country into a Venezuela-style crisis,” Mr
Ashbourne says.


“Nigeria is sliding towards a Venezuela-style
FX regime and adopting a Chinese-style stock
market circuit breaker. Neither will reassure
foreign investors, many of whom seem to be
eyeing the exits.”


Both measures were announced after markets
closed on Friday, January 15.


The circuit breaker on the Nigerian stock
exchange, one of the worst performing in the
world this year with a fall of 17.7 per cent, will
pause trading for 30 minutes if stock prices
fall 5 per cent. Trading will cease for the day if
it is triggered twice in a session, or after
1.45pm.


This month, Beijing abandoned a similar policy
after just four days, concluding that in a falling
market the existence of the circuit breaker
encouraged more selling as traders rushed to
exit while they could.


“The effect is akin to calling last orders at a
crowded bar,” Mr Ashbourne says. “It is hardly
confidence-inspiring that Nigeria is copying a
Chinese policy that is widely seen to have
failed.”


He accepts that Nigeria’s circuit breaker may
not be as badly designed as the Chinese
version. Whereas the NSE All Share index
rarely falls by 5 per cent a day, the Shanghai
Composite did so a dozen times in 2015. The
NSE’s version has not yet been called into
action.


Nevertheless, Mr Ashbourne says that using a
circuit breaker to shore up the market, rather
than to avoid volatility, is “deeply flawed”.
Simultaneously, the central bank has said it
will stop selling US dollars into the interbank
FX market.


Nigeria has operated a de facto twin currency
system for the naira since February 2015,
when the bank held the official interbank rate
at N199 to the dollar to avoid a spike in
inflation. The unofficial rate, available at
bureaux de change, has plunged to N300/$,
as the first chart shows.


However Mr Ashbourne argues the latest move
takes Nigeria a step along the road to a
Venezuela-style scenario, where the dollar now
buys 913 bolívars on the black market,
according to dolartoday.com, compared with
an unofficial rate of 6.28/$.


“Suspending US dollar sales to the interbank
market will force consumers and firms to
source dollars at bureaux de change,” he says,
while providing an implicit subsidy for
companies and individuals with the
connections needed to access the official
rate.


As the second chart shows, Nigeria’s
reluctance to let the naira’s official exchange
rate weaken means it has borne the brunt of
the sharp fall in oil prices since the middle of
2014.


In naira terms, the oil price has fallen from
$115 a barrel to around $35, with the modic**
of weakening permitted so far doing little to
take the edge off the fall in oil prices to $28 in
dollar terms.


In contrast, Russia, which has allowed the
rouble to fall sharply, is still seeing oil prices of
around $65 in local currency terms, with many
other oil exporters such as Brazil and
Azerbaijan also seeing more cushioning of the
blow than Nigeria.


Charles Robertson, chief global economist at
Renaissance Capital, who drew up the second
chart, expects Nigeria to bow to the seemingly
inevitable and devalue the naira, given that his
calculation of fair value is N305/$, very close
to the current black market rate.


He notes that frontier market funds are now
underweight Nigerian equities, and believes
that international investors “are likely to
remain on the sidelines,” barring an obvious
catalyst for change.


Nevertheless he believes a devaluation to
N250/$, “while no longer sufficient to ease all
dollar shortages … would be good enough to
warrant investors taking a fresh look at
Nigeria, especially if they expect a rebound in
the oil price”.


Daniel Salter, global equity strategist at
RenCap, has been busy analysing just when
equity market investors should consider
returning to a freshly devalued Nigeria, if
history is anything to go by.


Mr Salter analysed 13 emerging market
currency devaluations since 1994 in countries
ranging from Mexico and Turkey to Egypt and
South Korea.


His conclusions are that it is rarely worth
buying in anticipation of a currency
devaluation and that, on average, equity
markets do not hit their low point (in dollar
terms) until 99 days after the start of the
currency devaluation.


This delay can vary significantly, though, as
the final chart shows. In the case of South
Korea in 1997 the stock market troughed the
day before the won started to fall. In Nigeria
itself, in 2009, this point was reached after 35
days.


However in the cases of Thailand (1997), the
Philippines (1998) and Egypt (2001), it would
have paid equity market investors to stay out
for at least six months.


Mr Salter believes the lag is due to two
factors: the initial devaluation is often
insufficient to stabilise the currency; and that
devaluations frequently coincide with banking
crises.


Unfortunately, this analysis probably tells us
little about how Nigeria’s equity market is
likely to behave in the year after any
devaluation.


In the 13 previous episodes, the stock market
typically fell 3 per cent in dollar terms in the
three months after the start of the devaluation.
However, as the above chart shows, there has
been huge variability in this figure, from -56
per cent in Mexico in 1994-1995 to +100 per
cent in South Korea in 1997-98.


Likewise, on average the typical stock market
gained 4 per cent in dollar terms in the year
after the devaluation, but once again this is the
average of a widely dispersed data set, with
the returns ranging from -86 per cent
(Indonesia, 1997-98) to +172 per cent (South
Korea).


The sector breakdown perhaps delivers a
clearer message. RenCap found that consumer
staples stocks have tended to outperform in
the 12 months after the start of a devaluation,
while consumer discretionary companies and
industrials tend to pick up once the currency
has bottomed.


Financial stocks, in contrast, tend to be the
worst sector in the year after a devaluation,
probably due to declining credit quality.


http://www.reportsafrique.com/2016/08/buharis-economic-policies-foolish-financial-times-uk/



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