₦airaland Forum

sapientia:
Stop exposing your ignorance

Do we import gas?

Do you know our gas reserve is muh much higher than crude?

Do you know billions have been pumped into NLNG cos they promised to make has cheaper?

You must be an educated illiterate

FreeStuffsNG:
You want subsidy on Gas too, shebi? Same you city dwellers enjoying subsidy on petrol and electricity while those folks living in the villages continue to pick the bills as funds meant for their roads and cottage clinics and industries is being used to fund subsidy lifestyles for us in the cities and towns.
Sir, if you are truly in the gas business, you should know what gas is doing now even globally since the hurricane ida occurred in the US and locked 90% of the supply from that axis affected by ida.

You guys should please learn more about your industry, it's not the job of Buhari to ask you to READ or to subsidise gas for you at a time even industries in Europe are reducing production because of high gas and oil prices.

Take a break from nairaland and get real perspective of factors affecting your industry and understand it very well enough to be regarded an expert there . It's no brainer that except things change, gas and crude oil price may even increase more and Oman is already predicting that it will reach $200 per barrel because of bad weather and return of most industrial productions after covid-19. Brent was on $75.10 the last time I checked this morning. It has nothing to do with PMB, your usual scapegoat for everything.

Joysticks:
That is why a mob will rather take laws into their own hand by giving a jungle justice to a criminal than carry him to the police station.
They didn't inform the complainant.All they are interested in is bail money.
Are Nigerians suppose to pay for tracking of suspect?Is it not tax payers money that the police use in buying the tracking device?

PENNYSWAP:
That’s very bad

PENNYSWAP:
What’s holding them from stamping the yuan naira exchange

The Central Bank of Nigeria has vowed to engage financial crime fighting agencies to pursue fraudsters who have been deceiving the banks with fake documents to buy forex at cheap rates and sell at higher rates at the black market, NIKE POPOOLA reports

Eight weeks after the Central Bank of Nigeria stopped selling forex to Bureau De Change operators and asked legitimate travellers to approach the banks to access cheap forex, the banks have been inundated with fake demands, findings have revealed.

More customers have been deceiving the banks with fake documents to obtain the forex at cheaper rate, and prevented genuine travellers from gaining access to forex.

The CBN Governor, Godwin Emefiele, had said that the BDCs defeated their purpose of existence to provide forex to retail users and had become wholesale and illegal dealers.

“They have remained renegade and so greedy, recalcitrant with abnormally high profit from these sales while ordinary Nigerians have been left to feel the pain and therefore suffer,” he said.

He said the CBN had maintained its stand to discontinue the sale of forex to the BDCs.

Emefiele urged any Nigerian who had legitimate business to conduct to take the business to the banks to buy cheap forex.

He also said the banks would sell forex to travellers to pay for school fees and medical bills.

According to him, travellers could access up to $4,000 for Personal Travelling Allowance and $5,000 for Business Travelling Allowance.

He added, “I want to put it on record that if the amount you want is above the limit that is recognised and we find that the reason you are making those demands is legitimate, the bank will speak to us and we will give you what is even more than the limit.

“If you have dollars to sell, go to your bank. We will continue to monitor the banks.”

Findings, however, showed that the banks have been reporting fraudulent forex demands to the CBN.

Confirming this, Emefiele said, “We conducted a study; one of the banks in one day sold to 52 people who said they wanted to travel. After two weeks, they went to check, 40 out of the 52 had cancelled their tickets.

“How could you have a situation where about 70 per cent or 80 per cent who went to bank to buy BTA on the reason that they want to travel, banks sold to them, they turned back and went and sold to the black market. They were asked to return it and we are going to pursue you if you are involved in these nefarious activities.”

Emefiele added, “If you go to bank with fake visa, fake passport, we have told them not to sell to you. If they sell to you mistakenly, and after two weeks, we check and find that you cancelled your ticket or your visa is fake, they will call you because you are their customer.

“They have your BVN, they have your number, they will call you to return the dollars. If you do not return it, they will place your name on their website, your BVN on their website, we will pick those details.

“We will send them to EFCC and other crime agencies, they will pursue you and you must return the dollars because you cannot acquire it illegally. That is our position.”

However, some legitimate travellers have complained that they applied for forex at their banks but could not get it before their trips.

A traveller, who identified himself just as Felix, said, “My wife applied for PTA at the bank. Today, they called to inform her that they do not have dollars and she should seek alternative means from BDCs.

“This was despite sending mails out that travellers could buy forex five hours before their trip.”

Another traveller, who did not want to be named, said, “I applied for forex and was going to the bank and spending hours there for three days but they did not sell to me and did not inform me that they would not sell to me after wasting my precious time.

“I had to go the BDCs to buy at the black market rate when I was travelling. I spent three days trying to get dollars at the bank before my trip; I could not.”

A source from one of the banks who would not want to be quoted said that there were instances of customers applying for forex but did not travel after two weeks from the bank’s findings.

According to him, the customers did not return the forex that they bought to the bank.

He said the banks had to go through a lot of processes to confirm the payments before selling the forex and many applicants were on the waiting list.

While explaining the reasons why many travellers had been applying but could not get forex, he said that the bank could only sell the quantity of forex available to them when they are only able to finish confirming the applications.

Meanwhile, the naira had maintained its downward trend after falling to N570/$ on Friday from N490/$ before the CBN stopped forex sales to the BDCs in July.

The naira however traded around N412/$ at the I&E forex window which is the only official rate the CBN governor said he recognised.

As part of efforts to solve naira crisis, the CBN on Friday vowed to clampdown on Abokifx, an online forex publication.

It had accused the website, its owner and patrons of manipulating the exchange rates to sabotage the economy.

In response, abokiFX suspended its publication of exchange rates between the naira and other currencies on its website.

AbokiFX disclosed this in a statement on Friday evening titled ‘Temporary suspension of rate publication – AbokifX’. It said, “AbokiFX has taken the decision today, the 17th of September 2021, to temporarily suspend rate updates on all our platforms, until we get better clarity of the situation.

“Final rates have been posted this evening but the abokiFX news section and the Crypto rates section will still be active.”

A former President, Association of National Accountants of Nigeria, Dr Sam Nzekwe, said forex should not be allocated to the BDCs but the BDCs should source for the forex by themselves.

“Allocating forex to them is like throwing money into an area that you don’t have adequate control because you don’t know what they are doing,” he said.

On the happenings in the banks, he said it was necessary to monitor the banks very well to make sure that they were playing according to the rules.

According to him, people could make quick money from the forex if they were not well monitored.

Banks have continued to tell beneficiaries of the cheap forex sales to return them if not used.

First Bank of Nigeria said in an email to its customers titled ‘Adherence to forex sale policy’, that “We have been directed by the Central Bank of Nigeria to inform all our customers that unethical practices to circumvent the new CBN policy on the sale of forex, such as the presentation of false travel documents, visas, and the cancellation of flight tickets after purchasing personal travel allowance and business travel allowance, will no longer be tolerated.

“Defaulting customers who present fraudulent travel credentials or cancel their tickets and fail to refund the purchased PTA and BTA within two weeks, as stated in the signed customer declaration form, will have their identities and bank verification numbers published.”

More banks have also been passing the same message to their customers, findings revealed.

THE Kaduna State Police Command said on Thursday that it arrested kidnappers of students of Greenfield University as well as students of the Bethel Baptist High School, all in the state.

Also in the police net are kidnappers of the 37 students of the Federal College of Forestry Mechanisation, Afaka, in Igabi LGA of Kaduna State.

Both the Greenfield University and the Baptist Bethel High School are located in Chikun LGA of the state.

While parading suspects on Thursday at the Command’s Headquarters along Bida Road in the state capital, the Command’s spokesman, Mohammed Jalige, also announced the arrest of the suspected killers of 36-year-old Captain Abdulkareem Na’Allah, a pilot and son of Senator Bala Na’Allah.

Jalige said one Usman Mohammed from Bukuyum in Zamfara State was apprehended by operatives of the command in connection with the kidnap of the students of Greenfield University, Federal College of Forestry Mechanisation, Afaka, as well as Bethel Baptist High School, all in the state.

He said, “On the 29th August, 2021 at about 0900hrs, based on credible information, Operation Yaki Surveillance team with FIB STS Force Headquarter, Abuja, jointly raided a house along Ring Road, Asikolaye area of Kaduna, where one Usman Abubakar, ‘m’ 41 years old, a native of Adakpa village, Bukkuyum LGA of Zamfara State, a notorious kidnapper terrorising Chikun, Igabi and Giwa LGAs of Kaduna State, was arrested.

“He confessed to have kidnapped many people and collected several ransoms; he also has links with recent attacks on Greenfield University, Bethel Baptist Academy and School of Forestry Mechanisation, Mando, Kaduna.”



Speaking on the killers of Na’Allah’s son, the police spokesman noted that two of the three members of the gang that killed the pilot were in the custody of the command while one was at large.

He named one Bashir Mohammed, a neighbour of the slain pilot as principal suspect, while identifying another suspect as Nasir Salisu, also known as Uban Dana, adding that the third suspect, one Usman Kano, was at large.


He added that the suspects sold the late pilot’s SUV vehicle in Republic of Niger at the cost of N1m.

Command foils attack, kills bandit along Kaduna-Abuja highway

Meanwhile, Jalige said operatives of the command killed one notorious bandit, while a driver and his conductor were unfortunately killed in crossfire along the Kaduna-Abuja highway.

Jalige said the incident happened in the early hours of Thursday when bandits in large numbers blocked the Kaduna-Abuja highway and shooting indiscriminately at motorists plying the road.

Number1benue:
Problem no day ever finish for Nigeria......Abeg make somebody help me with even if nah 5h to put something for belle this morning ooo Abeg.


Them say person way work nai go chop, now I don work them no gree pay me.


Wahala no too much so.......

0008978840
Access

Jerryherd:




Apart from Okonjo, which other woman of this present crop can the Emir confidently nominate

Emir just want to decieve some women while making any man with contrary veiws look like bad

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Maxymilliano:
This is nothing but pogrom and such disposition to cover up or deny the attack, without proper evaluation of the incidence is a clear sign of incompetence by the NAF.

How are we sure this is not the handwork of repentant boko haram absorbed into the force

Luckylife:
Confused set of unprofessional people

Tedpgrass:
Sometimes I wonder what the big picture is

We have notable captains of industry apart from regional or global giants such as NOI and Adesina.... And this debacle is happening right on their watch.

Its a poorly kept secret that MB is not cerebral but he's smart enough to pick good deputies.
Why he has let the cabal and perpetual domestic embroil undermine his team of able technocrats, is an answer I'm yet to find.

I laugh when cretinous comments suggest AB for presidency, a 1st lady who is yet to keep her house in order, can barely keep a village afloat.. Don't come with the notion of leading a nation.

Its so clear now that Idiagbon was the defacto ruler in his 1st stay as leader. Perhaps the military might, Idiagbon had to his advantage is what Osinbajo lacks.


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aremuforlife:
I wouldn't mind, if the mortgage is attached to infrastructure. Pdp has already mortgage Nigeria without anything to show for it.

baconline:
U mean sq km?

On its part, the Peoples Democratic Party rejected the fresh move to obtain fresh foreign loans of $4bn and €710m.

According to the opposition party, the move by the President and his All Progressives Congress-led regime was another attempt at further mortgaging the future of Nigeria and Nigerians with less than two years left in office.

This was contained in a statement titled ‘Fresh $4bn, €710m loans: Buhari, APC are selling Nigeria, PDP cries out…urges NASS to probe looting of loans’, signed by its National Publicity Secretary, Kola Ologbondiyan, in Abuja, on Tuesday.

Ologbondiyan said, “The PDP vehemently rejects reported moves by the President Muhammadu Buhari-led APC administration to further mortgage our nation with a fresh of N2.66tn ($4bn and €710m) external loan.

“The party laments that with the reckless borrowing by President Buhari and the APC, Nigerians might eventually not have a nation and a patrimony that they can freely call their own, after the APC, which has less than two years to vacate office.”

Ologbondiyan described the proposed borrowing as an act of wickedness on the part of individuals who are fully aware that they will be leaving office in less than two years. It described the Buhari regime as “incompetent and corrupt.”

Attempts to get a response from the APC were futile. Calls to the mobile telephone number of the National Secretary, Senator John Akpanudoedehe, were not returned.



A response to a text message sent on the subject was still being awaited as at the time of filing this report.

Blackdisciple:
They believe when it's out of hand they will jet out of Nigeria just as the Afghan government officials did that's why they don't care, but time shall tell.

Tedpgrass:
You are so onpoint!!


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