₦airaland Forum

Yes, high price in crude oil means more dollars in Nigeria's account, but that is not enough to stabilize an economy already in crises, we are experiencing high movement of funds, investor arent sure where to invest their money, most are gambling on the dollar. Hence whenever the price drops, there is a rush to buy and stock dollars in anticipation that if it goes up they can be sold and instant profits without tax will be made. This rush drives the value higher.
Soludo in his attempt to play Mr. Smart and take glory for the bank recapitalization exercise did something that a good economist would never dream of doing he predicted dooms day ahead in the future. Remember he is the governor and investors take his words seriously, investors are always looking for signals that will tell them what direction to follow and Soludo gave the wrong signal. Until investors decide the dollar vs naira trading is no longer lucrative and return to the stock market, the pressure on dollars will continue to prevent the price from declining. Even if crude oil sells for $100 per barrel tomorrow. The banks will be the first to take advantage of any reduction in the price of dollars. Cos' one thing is for certain the Govt. has proven over and over that they are not stable hence they can be relied upon for good financial judgement.

I am predicting N200 to $1 before the end of next week.

Be careful with sex when you get there, a friend of mine who works as a doctor there informed me on the HIV situation in the country and how it has eaten up the place many of them are healthy HIV careers and they dont know. Also learnt salary level is very good. So if you have a wife, would advise you go with her or plan to bring her in on a later date ASAP, good luck.
If you must have sex do and extensive back to back HIV test with the opposite sex.

mmmmmmm, That would be between NY and Santa barbara

Thats a rap! good observation, you said it all.

Nigerians should demand better services. The National Assembly should take up the issue with the South African embassy and call them to immediate order or throw them out of the country. I guess when they dont experience what the people they are elected to serve expericence they careless.
All thesame it's a sad story. We dont have much individually but we are often scammed out of the little money we have by foreign representatives and big corporations.

@ztyle
Yes, we can.

It is sickening to know such happened and the bank couldnt inform the public or trace those that were affected and pay them despite the fact that insurance could have bear the loss, it hurts my heart. This is how Nigerians are fustrated into crimes. And the bank regulators arent looking into ATM fraud. Sulodo thinks his duty is just to create a steady exchange rate.

Good thinking, Good thread.

My take is that the banks should be responsible for whatever their clients loose many of these withdraws are sabotage by bank officials, it was recently a female first bank manager was indicted for western union fraud. She was involved in stealing funds wired home by hard working families from abroad.

My problem is arent these banks insured?, if they are why isnt the insurance taking responsibility for the scam they created with introduction of debit/credit cards. In America and other advance country insurance bear the loss. My chase debit card is insured to the tune of $500 for any unauthoriaed purchase or withdraw. What is wrong with Nigerian banks why do everyone like gaming the public. Why should they release same system of payment when they know we are not advanced enough for it, without a crime data base good security camera to pick on thieves who use the ATM and insurance to investigate and pay unauthorized withdraws it makes absolute no sense. Nigerians as u can imagine embraced the system with both hands and now they are at the mercies of smart criminals.
I have had stories of how people where forcefully taken to ATM machines under gun point to withdraw their funds. I have also had a recent story of how some one lost is card and few minutes later they downloaded 80,000 naira from his account this is silly should not be acceptable. This is too much for Nigerians, You guild your life against robbers and trigger happy police men, you protect your expensive phone from robbers, you protect your wallet and now you have to protect your bank card. The technology we have being craving for yrs is now doing damage to us.

Ask your bank if your card is insured against unathorized withdraws and to what tune. If it is not discontinue it immediately and revert to the usual system of cash with a cheque or cash slip. This is the only way out because anyone with access to your card and finish you up even without access to your pin number. Which is not good for a country where people live from goodwill of friends and relatives.

Tho!, I havent experience it yet cos' i keep with happenings in Nigeria, when i get back home, i am reverting to using cheque book or payment slip i m gonna ask my bank to cancel my bank card if the bank wont guarrante insurance to cover withdraws that occur without my knowledge. Also if i must use a phone it will be a #500 naira phone if available so that i can laugh each time it is stolen or lost and replace it with a snap on my fingers. There is no need keeping up with technology in a country that is no ready for technology.

Money is a life line in Nigeria and needs to be guilded by making good decisions not technology showout that often result in pain.

What are they waiting for? any investor whose investment requires electricity should be look towards solar and wind energy if the investment must survive in Nigeria. if not waste of time and money, i dont see Nigeria ever resolving the electricity situation, the leaders need their loophole to steal money through contract award. And electricity is the biggest loophole in the country today.

Welcome to be club.

Go to your bank an discuss with the manager, but if you are not a regular customer or not known it will be difficult.
It is important for the youths to get themselves known in their banks and start a relationship with the bank staff because of situations like this. With the absence of ID card data base and effective policing banks will be taking a great risk giving out a loan without a confirmable colateral even when intended for good purpose. This is what the govt has denied the people of!, that is why loans keep going to the who is who in the society. Cos' they are believe to be trackable cos' such people will always make headline news.

Also consider the high interest rate before going for the loan. Otherwise family members and personal friends will be ur best bet since 300,000 isnt much.

Your access to work depends on ur skin color, Malaysia (both govt and people) are absolute racist. If you are a Nigerian with top light skin and handsome you might steal a job if not sorry! Great city tho!, nice food. The people are slow in nature even tho the city (KL) is fast paced. Education very interesting alot of technological advancement in that area even in the classroom.
It a place where Nigeria govt official could have learnt how to inflated contract and still get the job done to the benefit of the masses. Rather than inflating and outright stealing with impunity.

Overall you need to have a brick skin to study in Malaysia. Because people will jump if they discover you are Nigerian. This is because of bad Nigerian reputation, from robbing a finance and depost house and murdering the carekeepers in the process, home stealing, Nigerian pastors involved in drugs courier by fedex mail, Multiple drug burst at the airports and border post, black dollar boxes, carving immigration stamps for fake extension of their visas, hording multiple passports, trying to board to europe, canada and Japan with fake U.S passports, street fighting among themselves during loot sharing, to hawking watches, wallets and belts on the streets.

Be prepare cos' taxis wont stop for you especially when u're in the taxi stand with other passengers (this can be humilating and stressful. Tho!, thats largely due to Liberians who board taxis and drop off without paying their fare, unfortunately taxi drivers dont know who is a Nigerian, Liberian or camerounian, Ghanian etc all they know is that black people run away when its time to pay the fare. Most black guys now ride their own cars or use the bus as a result. In case of the bus be ready to experience humilation of a malays or chinese covering their nose on sighting you or refusing to seat with you cos' blacks stink when they sweat and they hardly wear a perfume (thats the general talk).
The list is endless and these are usually printed on the Newspapers whenever it is discovered. The media jumps at any news involving Nigerians because it makes a great sell anytime any day.
Worst off, the breed of Nigerians living there keep reinventing and commiting worst havoc in Malaysia. If you can stomach the representation then proceed. Be prepared to spend 30mins to 1hr in seperate room with an immigration officer upon arrival which will determine if you will go in or be deported immediately.
You will notice it from the airport with stern look, eye poping balls and chewing of chin from the immigration officers once they open your green book, they might even plead with you to go and study in Singapore or else where, that they cant handle the ones already in and adding you to the group will be suicide. Even if you try to protest and clear yourself as a decent student they will inform you that all those who came before you, also came in as students and ended up on the street with no record of attending classes. To round it up be ready to answer the call of your ethnicity, questions like are you Ibo, Yoruba or Hausa? If you arent hausa be ready to take the blame for killing muslims and burning mosques in Nigeria. If you dont isolate your self from the issue or you dont sympathise with the muslims at that point you might be denied entry cos' as a muslim country they take the issue seriously. If you claim to be Hausa, be ready for a hand shake and warm welcome. You will also be warned about the Nigerian gangs and crimes they commit and advised not to join them.

Nigerians require 2 visa approval to visit Malaysia
1. The visa issued at the embassy which is basically for boarding from Nigeria and transit points it expires when you arrive at KLIA international airport.
2. Final approval and stamp which is more important than the first and the father of all. It is granted after
30mins-1hr extensive interview with a high profile immigration officer.

Depending on where the seller is auctioning from and if he will accept a buyer from Nigeria. Most sellers in America and canada dont wanna trade with someone in Africa or Nigeria for that matter, because of floating scam reports and experience. But if you have someone (relative or friend) in the USA or canada, the purchase can be concluded with easy and shipped with assurance.

@benemeka,

Are u on planet earth?, in this day and age you are asking for guru consult!, look before you leap, dont start something you cant finish. Go to GOD if you have issues in your life and ask for answers.
Those guys will run you down while keep their option on you open with possible murder if it will help them achieve their goals and keep them from answering to the wrath of the law

She is a stupid girl, who is she giving HIV?, if not her mates, if in this age people can still sleep wit a prostitute sorry!, carry go.
I wonder why she is telling it now, if not that she is having a heavy heart. she probably have HIV1 which can be controlled, along the way she will meet a guy who has HIV2 and her life will be over in a few months.

Simply lovely. This is the same Malaysia that was behinde us in development back in the 70s.
Shame on Nigeria, ride on Malaysia bulay!!!

Insurance firms in Naija are scammers!, i can personally speak on AIICO. My dad had life Assurance for #3000pounds backs in the days i was bearly few months old when he took it for which i was the beneficiary, fast forward to 1999 i went to head office in V/I to claim it wit all necessary docs including death cert. long story short, when i got there i was well received few mins later the officer was runing from one office to the other meeting wit his senior officers and 1 hour later, he came to me and told me my dad defaulted in his premium payment i was like when and where is the proof. He said it was a sensity information that they were unable to relate to me, before then they took the hard copy from me in pretence of processing it for payment, he even went as far as telling me i was one of the lucky few and took out the front page which had the agreement and about six legal seals before relating the bad news of default to me. While my dad specifically told me that he had been paying in premium constantly through his bank which meant it was an automatic monthly payment from his account since he was a senior banker official back then. I was so dumb founded that i was gasping for air. The dead man wasnt there to defend his premium payment and AIICO couldnt show proof that he defaulted after paying premium for 25yrs
Long story short be your own insurance agency, plan your life, u dont need sham firm pretending to insure you when its time to lay claim, they will be looking for a way to discret their own agreement. It was later it dawn on me that if i had known i would have contacted a lawyer before going, but poor me i thought it was a walk in sign and walk out with my #3,000 pounds. I wasnt even gonna accept naira cos the terms was state in pound sterling. But those guys outsmarted me took the away my hard copy so i wont be wised up by a lawyer on a later date. I didnt inform anyone back then cos i was guarding it as a big secret. You can imagine my fustration i was mad, i felt used and dumped, violated and cheated. Especially recounting what my dad must have been thinking when he walked into the office to sign the agreement. He thought of life and thought the best he could do for me was set the ball rolling, but he never knew his son would be cheated after 25yrs of hard premium payment.

Even tho it is an invention from a written script is it easy to copy?, if it is easy dont read, go for an exam and copy see if u will pass!
Why havent any Nigerian copied the western world for production of cars at a cheaper rate, see india they are good copy cats, Nigerians cant even copy and produce motor-cycles

And then,

Put ur life together and start a business wit his assistance. You had 10yrs during the rossy relationship to make a decision, tho! it aint late, you just have to be smart about it this time around, cos' he is also planing as u're planing.

how much is the pay?
Can a graduate apply?

@ orpeyemeen

See promo, naija too much.
Well shall you fine small, i see say ur lip stick dey fresh

visit the nigerian customs website @

http://www.customs.gov.ng/About/historical_information.php

Any ideal where it can be sourced locally??

lol u mean malaysia Ringgit

Very soon diasporan Nigerians will start charging seun to keep information on his site floating, Olodo!
Base Nigerians have so much problems to deal wit at home, e.g nepa, fuel scarcity, employment and layoffs, conductor wahala, okada man problems, left and right taxation, accidental misfire by olopa and kidnappers before contributing on this site, O'boy them strong for tht side!

@Lepanshadi
Funny and senseless post.
Now that FG is wooing Nigerians in Diaspora you are requesting the opposite,
how will you keep the site information floating when Nepa wont give u light to reply posts? what happens if u become a diasporan tomorrow?,

What happens if u're a member and working in a non-banking field as a result of not been able to secure a bank job?

Would it be fair to say registered member should also not be allowed to work in a non-banking sector?,
It is only in Nigeria people make laws without considering the other side of the coin.

I equally lost funds with forex but i knew when to pull the plug. Think of forex as a casino, if your broker isnt making money, you arent gonna make money!, you make money when everyone makes money, which means the market was generous on that day at that particular time. Some folks trading forex think that are trading on a global platform, nope! You are trading on your broker's platform and he dictates or in other words has the ability to slow down your profit margin. I have observed multiple trading platform and drew my conclusion.
Just like every other trader i made good profit at the begin ( I was making between $500 - $1,500) trading for only 2hrs daily with USD against CAD, then i left my job to trade full time, soon after i discovered that if the market isnt smiling with your broker, then your broker aint gonna smile with you. Thats just the way it is!, Hope those Nigerian who havent tested the bitter pill wont even think about it! Your broker can pull the plug on you, and you will loose ur last breath. funny enough when i started loosing funds, i was like if i can make back the $500 buck i lost yesterday i would stop, in the process of trying to make it back i kept loosing more.
Until one day i asked myself if i was a MUGU? if not why would i allow a white man to use electronic to swallow my funds? then i said to myself these guys are watching my every movement they know that i wanna make back what i have lost and that is how they trap their traders. When u start wanting to make back what you have lost, they lock up on you. And from then on you will start loosing every cent you deposit. My family in Naija suffered my financial loss the most cos i couldnt send them money for christmas and i had the worst christmas one can ever expect to experience in the U.S. But in all it was my persoanl fund.

Cant i fly wit my expired passport back to Naija?, it got expired in march planing to fly back in september. I dont think U.S immigration would have a problem wit that besides i dont have to show my naija passport to them either on entry or departure. I also dont think i should not have a problem in Naija since i m returning and MRP is not renewable, IATA rules say one can fly wit a photocopy if the hard copy is missing, ??, i m not ready to galivant all over the USA for a Naija passport that is weightless.

Recently i was at the immigration center in detriot to conclude application process for a relative, to my amazement all other nationalities, e.g europeans, Asians and Arabs were busy with relative's application process, my question is that why is it that Nigerians in America with unconditional greencard or U.S citizen dont sponsor relatives apart from wives and husbands? is it that they dont have brothers and sisters to assist what about cousins and uncles??
Or is it that they wanna remain the star in the family, who is often looked upon as the becon of hope? What can we do to change this, i might understand the financial side, but what about asking your relative (the intending migrant) to come up wit the application fees, which is about $1000

India, mexico and phillipines are examples of countries who live on fund transfer from hard working families. Why can we emulate them and ease the pressure on the govt. especially since the govt. are confused about the state of our economy. It baffles me that Nigerians in the U.S who have the ability to file for their relatives to come here and live as Greencard holders will prefer to send them invitation for a visit visa knowing that the chance of them gettin the visa will be very slim and if they do eventually get it they wont have the ability to work, and end up livin here illegally doing or sort of illegal things. We need to change our mindset and start doing right! At first i am tempted to think they arent aware, but it is boldly made known to them when they become unconditional greencard holders or U.S citizens. As a U.S citizen you are allowed to file for a primary applicant a yr and that includes the applicants wives and kids if any. Is it an act of wickedness that make them ignore those at home?, why wont you want their relatives to live the good life especially if they are known to be hard working?