₦airaland Forum

ZuzuMan:
.......

obailala:
Jesus Christ!!

Reading through the entire conversation, I'm sure Reno would be extremely shocked and may even lose sleep tonight over the sort of psychopathic being FFK has degenerated to. How does a person like FFK even sleep at night?

Sometimes one begins to just wonder how a person like FFK with all his fine education and exposure degenerated to the sort of psychopathic, hate-filled being he is today; he's obviously sipping from the same polluted chalice as Nnamdi Kanu and his worshippers. Apparently FFK wants to stoke ethnic disaffection in Nigeria based on a simple opinion of a young American Mark Zuckerberg; probably when he asks Nigerians to "think and think," he's soliciting Nigerians to increase ethnic suspicion and hatred cos even Mr Zuckerberg is now conniving with the Hausas to marginalise and undermine southern Nigeria?

I just can't help but wonder how a person with the putrid soul of FFK rose to the levels he attained in life. Lawd hav merci!

sonofluc1fer:
You get flour for house. You dey sell flour, you no gree buy oven. You dey bread from outside.

Flour price crash. Now your flour no dey bring money again. But you still need to chop bread. And your family size don increase well well.

The situation we are in is one that was caused due to lack of foresight. Nigerians are a very forgiving people. The whole millions of us dey share 4000Mw wey one airport for UK dey use.

Blame Buhari. Blame PDp.but the ultimate blame is on us who are being used by generations of evil and heartless pot-bellied politicians.

StOla:
We are suffering for the waste and gluttony of the past administration.

The only administration that could not increase the foreign reserve despite selling crude at very high prices, instead it depleted what the OBJ regime saved despite lower oil prices then.

If OBJ could increase the reserves from $3Billion+ to $45Billion and still pay a Paris club debt of $18Billion with an oil price ranging from $16pb to $60pb in his 8 year administration from 1999 to 2007, what exactly is Jonathan's excuse for not building on that especially when crude sold for about $100pb in 4years out of his 5years administration?

Yar'Adua built on the $45Billion inherited from OBJ and took it to $47Billion in less than 3years, while still spending about $16Billion to cushion the effect of the 2008/2009 global financial meltdown.

That Jonathan's regime left only $29Billion in the country's reserves without any tangible infrastructure, should be considered a treasonous offence.

What was the money spent on? The PDP envelope of dollars?

Was it spent to diversify the economy? Then how come an oil crisis has plunged our economy?

How come the Jonathan administration was already borrowing to pay salaries in February, March, and April 2015? This was just 8months into the oil price slump which was even still about $50pb then.

chachanga:
[b]Boys will date, wine&dine even impregnate these ladies but still run back here for good old "home-loving" when marriage issues arises.

Apart from insane "family pressures" from home, it seems most, are, at heart still just akpu & ewedu boys when the chips are down .
Bone the Brooklyn swags & the Cockney accent; our socio-cultural source-points did do a few numbers on us in setting some future marital expectations &agendas for us also .

So, the situation gets further worsened when the said ladies too don't seem to realize that some changes do occur, but only trans-'generationally' and not instantaneously. So as for ur expecting Naija guys to fit the bill of your newfound, "enlightened" or "postmodern man concept, U go jonze tire !

Not many are comfortable with the extreme liberalism, feminism and women's rights practised and available to our sistahs naturalised abroad but they'll date & screw u just d same , only to dump u later or marry home-based Chichi, Enoh or Bola behind ur back!

Hence, You either get ready to search till you find that ur one-in-a-million guy OR you adjust your expectations and start learning to cook more than Chinese Noodles because if u do marry an Ewedu boy or his Akpu counterpart, my dear, you will cook.
And Cynthia, stop praying for your Mother-in-law to die . (the old woman probably attends MFM Church &she's got a few "Back2Sender" prayer-bullets for you too, in case u decide to be an assassin)!
I may be wrong sha but the fault goes both ways.

Girls: Don't nurse "unnecessary" expectations just because dat guy dey folow u do UK Masters.
Boys: Stop screwwing and "partying-hard" with those ladies if you know you'll use it to judge them later! [/b]

adeyemi2015:
No Wonder your god - Ojukwu's Political Party APGA is presently controlling the entire South East region, and some States in the South-South too!
No wonder APGA was overwhelmingly voted for by the East and South when it presented Ojukwu as his Presidential Flag Bearer against a Yoruba Man and a Northerner in 2003 and 2007 respectively!

crystalfarmer:
.

WHY DO WE PITY THOSE THAT CAUSED OUR HARDSHIP?CORRUPTION

By Ademola H Adigun wrote:

They say Saraki's TRIAL is a witch hunt.
Dasuki's TRIAL is a retaliation.
Dokpesi's TRIAL is opposition.
But they do not say they are innocent.
They do not say the trial is not fair.
They say there are many other thieves,
So they say wait and catch others first!

A child will die in about a 1000 homes today because it lacks access to primary health care. Someone is driving a car built from looted funds allocated to Primary Health Care;

░A car will hit a pothole and cause grief to families because someone is living in a mansion built from looted funds meant for road projects;

░A child will go hungry to bed, a father helpless a mother tired and in anguish because someone is wearing a custom-made designer watch bought with their salaries.

Someone spent 5 hours searching for fuel today, will go home to darkness because someone wanted a mansion in France, London and New York and used money meant to expand refining capacity, increase power, etc.

Many will die from treatable ailments because someone imported chalk as medicines. Because someone wanted to fly to the UK for cosmetic surgery, he approved the chalk to be sold in our chemists.

Many will drop out of school for ₦5000 because someone wanted their own children to attend Harvard and stole the funds for education of Nigerian children to make it happen.
Corruption is the reason for the rape of young hawkers who are forced on the streets by hardship, to make a living for their cash strapped families.
Many families are dislocated and many are now refugees in their own country and in neighbouring nations because someone did not buy guns and ammunition. Someone bought fake blades for helicopters. And someone wanted to buy mansions for his sons;
How many lost their lives to failed banks?
How many emigrated?
How many received a racial slur because someone took their future in their native nation?
Why are we kind to those who stole destinies?

Bagehot:
For starters, a great deal of uncertainty. Only a fool would have invested money in Nigeria in late 2014/early 2015 given the uncertainty in the political clime. Buhari also messed up by not rolling out early enough (i.e. naming ministers and what not) - again uncertainty cos of no clear policy direction, although he could be forgiven cos the power change in the country was unprecedented, as it implied APC would have had to change a lot of the structure of the erstwhile ruling PDP. Buhari's biggest f**k-up however, was trying to wish away reality - he refused to devalue the naira.

The truth is the naira was already devalued on the streets long before the government announced it - at least 8 months of lag time passed. In refusing to do what was right, Buhari gave room for profiteers and currency speculators to cash in big-time on the huge margins between the official rates and the street rates. Again, imagine you were an investor, and you had $1m to put into Nigeria, why would you do that when the government would give you N198m, meanwhile the real value of your money in Nigeria is around N340m? Also consider that in trying to repatriate profit, you would be doing so at a massive loss, cos well CBN rate + FX controls. We all assume utopia would be N1=$1; we are wrong. If that was the case suddenly, I would with my (let's assume) N6m salary suddenly be able to afford a Rolls-Royce, priceless jewelries e.t.c. as compared to my mate that earns $100k working as a software engineer at Google (insert your favourite tech giant here). Please how does this make sense?

Again I should reiterate that the financial institutions in Nigeria are still largely primitive due to the greed of Nigerian bankers. Prior to TSA, there was CRR which squeezed a lot of Nigerian banks out of public sector deposits. How about if I tell you that only GTB had over 70% of its deposits from the private sector? In other words, every bank was keeping government's money, and loaning the same money back to government at ridiculous interest rates. So there really wasn't much incentive to do 'real banking'. Now that the cockerel has come home to roost, they have all been caught napping.

As regards someone's question about how oil is not a substantial part of our economy, I beg to differ. Oil truly is a small fraction of our economy, but it is still a major contributor to government revenue, as well as our number 1 source of FX. Government being the biggest spender in the economy, by refusing to spend money (due to issues with passing the budget and whatnot) contributed to slowing growth. Asides that, of all the things we produce in Nigeria, how many bring home billions in FX?

The truth is Buhari has had a few missteps - yes. But what is happening now is just the cockerel coming home to roost; the bubble would have burst sooner or later.

Bagehot:
I on the other hand can school you.Nigeria's economy is certainly not among the fastest growing in the world - certainly not. Any growth experienced by our economy was due to what is known as a 'commodity boom' - in other words, oil
(our primary export) was highly priced globally, hence we had a lot of cash coming in? You dig?

Secondly, the only reason why our economy became the biggest in Africa is due to what is known as 'rebasing'.Economies are dynamic in the sense that they grow, shrink, add new sectors, products,technologies e.t.c. To account for these changes, policy makers generally go through a periodic exercise called “rebasing” or re-benchmarking of the national account series GDP (gross domestic product). This process helps the data reflect a more current snapshot of the economy, and it is recommended that every nation undertakes it every 5 years to ensure that national accounts statistics present the most accurate reflection of the economy.

I thought your claim that Obama gave 0% interest loans to american businesses was a little strange, so I looked everywhere online, and could find nothing of that such.The only thing close was the $30-billion Small Business Lending Fund, which I understand didn't work out so well.

Before you give undeserved praises to Jonathan (mind you, I'm neither Pro-APC or Pro-PDP), consider the fact that Nigeria's financial infrastructure is largely unstructured. Think about this: only 3% of Nigeria’s landowners have proper titles, yet 70% of all loans are secured with property owned by this 3%. Pray tell, how do the remaining 97% present collateral to banks? I can tell you for a fact that a majority of Nigerian banks lack anything close to corporate governance, so at the end of the day, a lot of your bank's big boys would continue to look the other way while signing off dodgy facilities for their friends ( they do of course take a little something off the top). Need I also mention multiple taxation? From company tax of 30%, to ITF of 1% (biggest existing fraud in Nigeria), to LASAA, countless strange taxes from local governments e.t.c. Should I also mention the byzantine laws and regulations at every corner?

Baba, please calm your tits cos no government (asides Obasanjo's) has done shit for the Nigerian economy. The economy is growing sheerly by the will-power of its citizenry (and massive population) - and nothing else.

princetom1:
Let me clarify some things. No one said they all borrowed under GEJ, we saying, under GEJ, AMCON underperforming. And who told u OGA AT THE TOP doesn't play a role in d bank. Are u living in Nigeria. How many crimes are commited through these banks, how many blackmail? Defect? How come these big men's borrow without collateral? Or which collateral does some of them have? To borrow huge amount of many from different bank? How come banks hasn't taken possession of the collaterals? Oga, we are in nigeria. Pls, don't misjudged bcoz i mentioned Jonathan, i have no qualms with any of them. As long as am concerned, apc, pdp, they are same. When we see truth, lets admit it. During baba iyabo tenure, money missing, why GEJ not investigate and prosecute. I now see wailers, wailing wen some are being investigated and prosecuted. The question SANE NIGERIANS should be asking is, is those investigated really guilty? I don't care what ever reason else. If apc are realy witch hunting, they can only hide, they can run forever. I rest my case

logica:
Dude, what people are driving at was AMCON bought those huge debts but did NOT actively go after those debtors. If Jonathan did not lose to Buhari, it is possible these guys would've gotten away with it. And of course, guess where the money AMCON used to buy these debts came from? Aha.

PassingShot:
Happy days are ahead of us.

With the news, the worst of our economic woes are behind us.

Kudos to the government for floating the Naira rather than devaluing it. A first in the history of Nigeria.

*Modified*

Some ignorant mourning wailers are saying floating the naira is same as devaluing it. Hell NO!

If you devalue the Naira, you fix an official exchange rate to it. E.g N250 to a dollar. With that approach, the black market rate will jump to beyond N400 to a dollar.

But with floating, many traders with high volume of dollars come in and trade dollars based on demand. In this approach, there is no official dollar rate set by the government. The rate is purely determined by how much dollars are demanded and how much dollars are available. This way, the Naira finds its true value.

MrTour:
The fact that most highly placed traders at Alaba or any other market in Nigeria require 25 million usd per week and the government can't provide it doesn't make the government incapable. There are laws in the land of what items that can have access to CBN approved exchange rates, the Federal government has listed such items as in favor of the development of the Nation, anyone who seeks forex to finance goods not listed on the government approved list is solely responsible for any rate obtainable and the government isn't responsible for that.

The United States who owns the USD is not even as dependent as Nigerians on the USD thereby the mentality of Nigerians towards obtaining USD by fire by force is what needs to change. America will not print more dollars because Nigerians can't control their demand for USD and even if Nigeria has $500 billion it will still finish within a short period.

Control is necessary in a government which is what the CBN is doing, GEJ's govt was spending the dollar like it was unlimited. Exchange rate of 1USD to N285 at parallel market is possible and can be sustained with improved mentality of Nigerians towards the USD.

For anyone saying where will the foreign currency come from to sustain a better exchange rate at the parallel market, the last time i checked Nigerian economy is still open for business and one of the benefits of a flexible exchange rate is to encourage foreign investors with interests in Aviation, hospitality, finance, health, petroleum.

If Nigerians truly have the love of the country at heart, those traders should team up among themselves to encourage their business allies overseas to come and open factories in Nigeria, when they do this, they don't just bring more USD to the country they also create Jobs and improve the economy.

Share the message and lets make the change.

oyb:
https://en.wikipedia.org/wiki/Pete_Hoekstra














the man's history says plenty. tea party,imperalist expansionism

it should be noted that this is just a letter from a politician




this same joker would be shouting dictatorship if buhari went full 1984 on our senators. they are the last bastion of government profligacybut until buhari gets rid of saraki there's not much that can be done about them.




this is the same sort of empty headed ignorance that characterizes the republicans. no in depth analysis of an issue. the world is still paying for the same faulty analytical process that led to the invasion of iraq. i wonder if this joker would negotiate with terrorists on his own soil. the hypocrisy is galling.

ajixkhid1:
This young man wowed folks at an event when he suddenly brought out a machine and started spraying money from the machine.

The only problem though is that the machine had to be reloaded quite often thereby rendering the mechanized money spraying system more tedious than the traditional method.

See the video and photos after the cut


http://www.michelleaigbe.com/2016/06/checkout-this-big-boy-spraying-money.html?m=1

WASMOG:
It's unfortunate that today we the Igbos are
shading crocodile tears after betraying chief
Ojukwu severally when he was alive, Ojukwu
brought his party APGA and contested in the
presidential election under it,he didn't win a
single state in the whole of the east,his party
only won gubernatorial in only Anambra state,
and in 2015 we sold Anambra again which is
the only APGA state to the PDP. And now our
politicians are sponsoring a dead movement
called biafra,the real Biafra died and was buried
with Ojukwu,its better we retrace our steps in
this country cos we cannot fight for those few
aggrieved politicians who are only feeding their
pockets. Pls ndigbo we shud stop that
hypocrisy. I know u will insult me but at least
I've bared my mind. Oya start the insults.

debeey87:
http://www.bloomberg.com/news/articles/2016-05-30/the-big-short-is-back-in-chinese-stocks-as-yuan-losses-escalate