₦airaland Forum

Jemmie:
Hmm, my brother, a big amen to that.

I do both - self-employed and an employee somewhere- but still it is not easy. My granmother use to say, no one eat two things in mecca' (translated). I guess what she meant was that you cant combine or do 2 things at a time; 1 stitch at a time. Buttressing her saying; I went to 2 higher institutions almost at the same time; polytechnic and a university. I didnt like both results but 1 is fairer. Am improving myself in all areas.

I was in poly when my admission came for the uni. I got a course I actually wanted to study in the uni and I was happy. i was advised not to drop the poly but at the end of the day, the result was poor. Could be as a result of the distance- lagos and ogun or that i was always sick-am not a sickler ooo or that the university system did not bother about the welfare of the students; missing results, assaults, distant relationship between lecturers and students, etc

Right now I work with an international institution where I used to like the job but not the pay. Now the pay is better but the job is something else-i have no interest in it anymore. Yet the pay can not carry me on. Imagine that.

The problem with being an employee is that its a short term solution to a long term problem, you dont have control over your income level (increasing it at your discretion, it cant be sold or inherited. You have no control over your time (your most valuable asset) and inflation is working against you.

More important you do not enjoy the benefits of leverage, exponential growth and the potential for residual income. If anybody is engaged in the money game without these three factors (LEVERAGE, EXPONENTIAL GROWTH AND RESIDUAL INCOME) That person will struggle! So its not a question of how much money you make but HOW YOU MAKE MONEY!

I can show you how to start enjoying the above three key things if you are interested. You may contact me on akpoefe@yahoo.com.

Much Respect and Admiration.

abeg wetin be gse? 4give my ignorance

I saw the headline in the Guardian but i was seriously disappointed to see that the body of the report was different, the people "sacked" ARE NOT DGS but board members and the gov has NO POWER TO SACK ANY BOARD MEMBER! BANKERS ARE JUST TRYING TO USE BROWN ENVELOPE JOURNALISTS TO FIGHT BACK! Whoever originated this story is either thoroughly ignorant of CBN structure or is deliberately misleading people.

The only change among the Dep Govs was the RETIREMENT IN LINE WITH SERVICE RULES of Ernest Ebi and the appointment of Moghalu as his replacement. Stop believing anythingg u see in the papers!

Lets get something straight, the mere fact that someone has "paid money" does NOT mean a loan is performing. Classification of loans is guided by a CBN circular and of note is a requirement that before any loan previously classified as non-performing is give a clean bill,  the customer MUST make payments such that outstanding monies due shd not be less than 90 days (3 months worth)

For example if jeun jeun plc owes money (say 12 billion) and is supposed to be paying 1billion per month starting January 2009 but fails to pay anything until August, The loan is already non performing by march! And to make it a performing loan Jeun jeun must pay at least up to June ie 6billion to be considered up to date.  If the company pays 4billion and makes noise about it, they are just wasting time cos the loan is still NOT performing! cos they are not UP TO DATE WITH THE AGREED REPAYMENT SCHEDULE! QED

So these big men are either ignorant of the process or are just trying to muddy the waters by taking advantage of pples lack of understanding. A more worrisome situation is that while these pple were not repaying, the banks were recognising unpaid interest as income in their profit and loss accounts hence for most of them the huge profits declared were bogus! NO CASH FLOW TO SUPPORT THE FIGURES! So talk of not the right amounts and all that are all balderdash. Provisioning is a very technical process that does not easily lend itself to public debate.

I hope this will enlighten Nlanders

one medium size boli-50 one small pack of Gnut- 20, pure water-10 change- 10 to use for "I feel alright"

Dem need to test dis man piss! I personally suspect GENETICALLY MODIFIED GANJA that will not show up in any test, the man na jamo na! They have finally beaten the gringo americans at their own cheatin game na joke i joke o! the man try abeg! LITHINING BOLT! ENUF $$$ FOR D GUY

I symp with you guyz, but i think part of the problem is we all prefer EASY investments, the easy ones to get into are usually the worst and riskiest! There are a lot of good investments in this country but they are HARD  to start, HARD to run, require HIGHER  business skills and thus FEW  people are ready to go thru the process. Thats why FEW guys are really doing well financially.

Personally i dont count flipping thru newspaper pages or relying on stockbroker's advise as investing. Buying stocks is like driving a car with brakes but no steering wheel- you can stop anytime you like but you have no control over where the car goes! I personally prefer investments that generate cash-flow asap! They are hard to see, hard to start and hard to run but pays BIG!- Yeah you guessed it- I DONT buy shares. I know all about them but its not the right time for me to get involved in my financial plan. thats my 2 cents

Am surprised pple are advising others to sell newspapers and akara! How many vendors and akara sellers do you know who are well off? There are 3 things you must look for in any business activity:
[list]
1.LEVERAGE
2.EXPONENTIAL GROWTH
3.RESIDUAL INCOME
Vendors, pure water sellers, akara sellers and the like dont have any of the above so they will struggle financially! they are in busyness and not business!

I can show you a business that boasts all three factors and yet requires minimum capital and risk. If you are interested contact me on akpoefe@yahoo.com or 0802-334-9696. Much respect and admiration.

Sorry bro, some jobs can really take a toll. I noticed you mentioned that you health is degenerating, thats serious!

Please get in touch with me on akpoefe@yahoo.com and I can show a way to improve your health AND wealth starting part time with minimum capital and risk! Much respect and admiration.

BadestBOBO:
My brotha, from a fellow Akokite, e go better.
I consider myself unemployed right now even tho am 'managing' in a private coy that an uncle had to call in favors to get me. I get paid 25k monthly. A whole Engineer. They said I should at least keep busy.
I've been unemployed 6 months counting from end NYSC but am heavily disadvantaged as some of my mates have secured high-paying jobs in oil, some are about completing their M.sc's from foreign Uni's- and me? I still dey hustle.
If there is a God, e go better. If there is no God, e go still better.
All said, I believe in the power of Positive thinking. Things in the country may be falling apart, but am gon handle my business- one way or another.

BinghiNya:
Bros,

No be only you dey that mess. I finished service in 2002 December but i have never worked long in a good coy. I lost my last Job last November in questionable circumstance and getting another has proven herculean. My girl even left me in this period. Just keep trying God will crown it soon.

I feel for you guys, no one deserves to live like this, I have sent a mail the poster on a possible way out that am working on. If you guys want to hear about it just get in touch with me at akpoefe@yahoo.com. Much respect and admiration!

has anybody tried cobranet? they are making bold claims of 256kbps. I asked their sales rep and she claimed they do not get their service via sat-3 but from some german satellite company. An not holding my breath though.

@ Amaladede
I agree with your statement and you have made good points. But you must separate a sound concept (starting your own business and financial freedom asap) from implementation most people do not take the time to learn the skills necessary for success in business (it cant be acquired by merely working for long and networking). Its great to start your bid for financial freedom early because in business you learn from your mistakes (there will be mistakes). Working until 65 and getting a pension sounds good but has its own risks.

First the new pension act has made pension available for everybody but the draw back is that your pension is now a function of your contributions, your employer's contribution and the performance of your account based on you fund managers acumen, market performance etc. So the edge of CBN (pension) is now gone. Besides if anybody runs a business part time and does it well he can well leave work before 65 to run it well. To be working at 65 because you HAVE to rather than because you WANT to is not fun at all.

Besides we need to create the entrepreneurial spirit to generate more jobs and grow the economy. If we all look for jobs, soon there wont be enough to go round. Some must take the risk to start businesses. They may fail at first but those who learn from it eventually succeed and the reward for the risk is quite high. I still believe working until one is 65 is a recipe for disaster but thats my personal view. Working and hoping my stable pension will be enough to take care of me when am old is an unacceptable risk. Maybe we should take time to review the new pension act.

@sMilA

Am surprised you are mentioning pension as an advantage of working in CBN. The revised pension act has nullified that advantage by changing everything from Defined benefit plan to a defined contribution plan
sorry for the long post.

I am surprised how fixated we are on salary and benefits and jobs and work and positions! I think at this time we should be thinking of starting businesses to generate cashflow which will lead to financial freedom. working until youre 65 is a recipe for disaster! I dont care where youve worked, UK, US or the Moon, employees are at a severe disadvantage!

dearstan:
@Poster:
Well the pay depends on the level you are. For the level of a senior supervisor (level 8, 9, 10), i think the basic salary hovers around 80k, while that of an assistant manager (level 7) is around the range of 90k -100k. Though those amounts are not that mouth watering, you get to enjoy lots of other financial benefits in the endless list of allowances like lunch, security, domestic, transport, course training, duty tour e.t.c

In all, it is a good place to work, with little stress. The thing is you just have to cope with the cut-throat corporate politics being played in the bank - you have to learn a lot about being diplomatic.

u have a point BUT! The "endless list of allowances" only amounts to liquidity without financial progress. The thing with the place is this- if you are there you better have a business you are growing by the side, its the perfect place for that. you have time and calmness to plan and make your move. If you are looking to build wealth and financial freedom by getting a job then you really need help!

You guyz shd not believe any fantasy story. "paying well" is quite subjective. Compared to other ministries CBN is just slightly better but compared to banks and pples belief, the pay is laughable. I know from first hand experience . if its money ur looking for please look elsewhere.

@image123
you were caught in your glib misquoting of scripture, you fled for some time hoping we will forget now you are back trying to sell a damaged concept peddled by damaging business men and believed by brain damaged humans too lazy to take responsibility for themselves.

On the other hand your pastor will really love you because you are what every business man dreams of- loyal die hard repeat customer who swears by a useless product!
If i were u i will quietly sneak away and submit myself to the shearer to continue his fleecing business!

lamex22:
we changed because you our customers did not like the idea
so if your customers do not like the idea then you had better hate the idea

Or did you change because you received a secret BAILOUT loan from uncle chuks soluflop??

Tuborme made the most sensible post yet! All these gentlemen claiming to work in CBN what department exactly do you work. Oviaboy and his friends should respond pls. Nigerian banks cannot all be healthy thats a fact. As for specific banks that are sick only CBN and the sick banks know but dont hold your breath, neither will speak out

please go to canbank.org the official CBN website, there u will find the regulatory and supervisory guidelines for microfinance banks in Nigeria and the microfinance policy available for download. ALL your questions will be answered by the documents

Apart from the fact that the guy's brain is between his legs i quote the eternal words of William Congreve:" Those who marry in haste MAY REPENT AT LEISURE"

My comment on this is quite simple
Tithing is the most efficient money making scheme ever devised in modern times. These guys collect 10% of everything! The almighty federal govt only takes 5% vat, these"men of God" racket is so sweet even the sicilian mafia will go green with envy. One other question is:WHAT HAPPENS TO ALL THE MONEY? This is what happens- designer suits, permed hair, lovely rolex wrist watches and mind boggling luxury homes. There are showers of prosperity but its for the tihtee (pastor, sorry business man) and not the tither (poor sods who have been conned into eagerly handing over their cash)

CLOSE THIS THREAD BROTHERS THESE SHEEP WILL CONTINUE TO BE FLEECED AND MILKED BY SMART TAX COLLECTORS