₦airaland Forum

frankson1:
You're a financial expert and advising him to hold una eyes go clear when Dollar falls further against the Naira.

I've you read the CBN new policy that will commence after by next year

He needs to learn to invest it. He has not invested but only change to USD. He needs to learn how to invest in dollars. It is all these motivational speakers that tell them to change to dollars. It is rubbish.

The CBN's new policy won't do much, I explained what led to this improvement in naira value in the link I published above.

What would bolster Naira's value against its global counterparts is Dangote Refinery. It would ease Nigeria's over $50 billion expenditure on import fuel, which can then be used to cushion the economy.

GREATIGBOMAN:
U believe naira will deep further?

Bro. I am a financial market expert. Please do not sell, globally this is a bearish period both in the stock market and other risk assets. However, a lot of assets are extremely cheap.

You were not supposed to just deposit in USDT and abandoned it. Even at that, you should have kept your eyes on Central Bank happenings as CBN made the adjustment that led to the Naira improvement just a few days ago and I covered it in the link below.

Binance P2P sets the Naira-USDT exchange rate based on demand and supply on the platform. This, CBN invalidated by allowing direct naira deposits and withdrawals on the platform. Once that happens, people started depositing and withdrawing without a p2p intermediary.

Please note that USDT is a stablecoin backed by dollar. So your money will always be what it is in US Dollars, only in exchanging to Naira you will notice the improvement or decrease. Now learn how to trade and buy battered cryptocurrencies with real projects and come and thank me in 2024. Yes, that is when the next Bitcoin halving will happen.

https://investorsking.com/2022/11/07/binance-now-accept-naira-withdrawals-and-deposits/

CheapHomes1:
And so you believe cbn? Has CBN been able to explain the justification for this exercise? Has it been able to explain the advantage of this exercise or the problem it will solve?

I don't need CBN to explain the advantages and disadvantages of this to me, I know how it works. Also, I don't have to believe CBN when CIC is published every quarter. Even CBN will not be able to function in so many areas like Interest rate adjustment/fixing, fiscal policy, manage inflation and many more without the data used for this particular decision.

This is not new to financial guys. In your other comment, I noticed you mentioned bank managers? There is a cashless policy, meaning every transaction is capped even for banks. How much is their operating capital? for the Fugaz is more than N300 billion. Any unusual transaction would be flagged.

dettolgel:
If you are talking of billions I may agree with you a bit. But 100million come on. 2 million go to 50 different BDC or 5 million with 20 BDC. You can get it all done within 3 weeks.

CBN said N2.7 trillion outside the banking system. if N50 million will take you three weeks, please do N2.7 trillion. You shouldn't get through N500 million before the BDC/Aboki set you up or people you are working with go rogue.

no

bourbony:
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Yep

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TINUBUISMAD:

Obi should forget about campaign
We the sane one's have decided that we are going to vote for him whether him campaign or not.
He should just go home and write his inaugural speech and sleep

Imagine Obasanjo, Nigeria's longest serving president and most experienced, pushing a candidate and certain individuals still saying NO.

ovie8200:
Because he is an Ibgo and Christian from the south, he doesn't have a chance.....the frogeyes from the southwest and despite being a Muslim, he doesn't have a chance in the north either. However, I still believe the election is between Obi and Atiku...

Then you need a lot of learning to do. In South West (the whole 6 states) is Tinubu. However, the strategy is to close the gap and compensate for that difference with the overwhelming gap we are expecting from South East/South-South.

tuborme:
Peter Obi’s rally took place in 4 different places on thesame day… while Tinubu’s rally took place in one location

It is not about the number of places. In fact, Obi rally is not big hence why we need more people to come onboard. Certain argument doesn't make sense.

maximunimpact:
Read and learn from someone who have many houses in choice locations without ever building 2bedroom flat with my capital.

Tell them brother. My man

Olojuobinrin:
Will keep following, maybe I should drop my estimations too , though I already completed the house it’s a 3bed will be moving in by December!

Please do.

frowland:
I disagree! One thing with economics and finance is that there are so many ways to solve the same problem. Since everyone is dumping the Naira to purchase USD; then creating artificial scarcity with lenders liquidity is one way to arrest the Naira free fall.
That’s why in Economics we are faced with so much advantages and disadvantages of some economic terms.

A lot of supposed experts lacked knowledge of the Nigerian economy. They are textbook experts.

CBN issue is not inflation but capital importation given the structure of the Nigerian economy. The Nigerian economy is a petrol-dollar economy. Meaning, we export crude oil and generate dollars necessary to service the Nigerian economy that imports over 90% of what it consumes.

However, with the developed and emerging nations raising interest rates to curb rising inflation rates, capital inflow into the Nigerian economy will automatically drop. US, UK, etc are now paying better interest rates with lesser risk compared to Nigeria.

With Nigerian crude oil production at a record low of about 900, 000 barrels per day, down from over 2 million barrels per day. Nigeria needs to sustain capital inflow (dollars) or the economy will tank. In fact, the exchange rate could hit N1000/US$. It was the main reason they had to take a drastic step like paying Tompolo to oversee the security of the pipeline.

Inflation is not the priority but economic growth. If the CBN can lure investors to invest in the economy and up crude oil production, it would be able to flood the Nigerian market with enough dollars that will prop up the value of the naira against its global counterparts and rein in inflation rate (since it is cost-push inflation).

Nigeriaiscasted:
My mind is broad right yeah I get that most times

Broad is different from lack of consistency.

I went through your posts to have an idea of who you but mehn....

pocohantas:
Because it is the fake jar. I am beginning to think I have bought this nonsense once.

The one I bought two weeks ago from Shoprite was in a glass Jar. The following day, it separated into oil and whatever substance was added to it.

Nigeria's leading tier II bank, Fidelity Bank Plc had entered into a binding agreement to acquire 100% stake in Union Bank UK Plc.

According to the bank, the Central Bank of Nigeria (CBN) has issued a 'No Objection' letter, the bank disclosed in a letter signed by Ezinwa Unuigboje, Company Secretary and obtained by Investors King.

Union Bank UK started providing financial services, including personal banking, trade finance, treasury management, and structured trade and commodity finance to individual and corporate clients in London in 1983.

Commenting on the ongoing deal, Mrs. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, said "This transaction aligns with our strategic plan of expanding our service touchpoints beyond the Nigerian market and providing straight-through services that meet and exceed the needs of our growing clients.

"The diverse service bouquet and business model of Union Bank UK offered a compelling synergy, and we hope to build on the existing capacity to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services."

The Prudential Regulatory Authority (PRA) is yet to approve the transaction, according to the statement.

https://investorsking.com/2022/08/30/fidelity-bank-makes-offer-to-acquire-union-bank-uk/

christejames:
And so? Enough with the lies...


When did LASTMA or whichever agency take the data of all motorists in the state


You cannot fool all the people the same time.

Car registration has all the details they need, NIM etc

We are still recruiting...

pocohantas:
My point exactly. Everything requires a little bit of tech. Which basically is familiarizing oneself with tools and softwares in your niche. The tech I am talking here is programming. We all can’t be programmers and people should stop acting like that is all to remote work.

Even customer support get levels to it.

I don't mean technology. I meant technicality. The remote jobs that paid well are those not easily picked up by citizens of those countries. Customer service, admin, etc roles are easily filled. The only reason foreigners are given those roles is because of lower pay. Whereas in high-skilled roles we get paid way better.

pocohantas as a non-tech remote worker with a U.S. company, there are a lot of non-tech roles. However, what I found is they are also technical if you want to earn good pay.

I am a financial/economic analyst with a U.S.-based investment company. In fact, they increased my pay just a month into the job. It shows they value and need real talents.

Esseite:
A simple google search would show you in the 2020 NBA draft of the world, Nigeria had a whooping record breaking 8 draft, 5 in 2017 That is the fact Obi was pointing out. He was clamouring on the zeal of the youths and brain drain currently happening.

Now, Has your candidate shown anything of concern about Nigeria other than corn and cassava.. infact, he said the FX is not his problem as long as salaries are paid in naira.. its horrible knowing some persons fight really hard to destroy their future. It quite unfortunate that our futures are intertwined with these lots through a common leader.

No mind them. A lot of them registered as American hence why the statistic is that low. Adebayo and Oladipo in Miami registered and played as Americans. Same as Andre Iguodala playing with the Warriors.

Similarly, Giannis antetokounmpo and his three other brothers are registered as Greece players.

Josh Okogie and few others like Aminu that are playing for Nigeria are the one listed as Nigerian players.

What about Akinfayoshe Daniel Oturu that played in G league and many more. Even me don mention more than five. With a better economic structure, these guys should be playing for us.

GboyegaD:
That she chose to speak out isn't a crime. Besides, others might have been comfortable with the living conditions.

It is also not a crime that the company didn't offer her Banana Island standard accommodation. She is the one pained!

GboyegaD:
To start with, unemployment at 33.33%, she got a job and so are many others which means one can still get a job.

If the employer can't provide a conducive/decent accommodation, don't include that in there terms of contract. Let her decide if she's okay with the job at the pay the company is offering.

So the same toilet she is sharing with other 6 staff is not decent? If jobs are readily available why is she crying on Linkedin and across social media for something that happened in June? Just move on to another simple.

GboyegaD:
It is unfortunate our minds have been so wrapped in slavery. People making excuses for the company and painting the employee evil.

Sir, nobody is making excuses for the company. Nigeria is not a perfect system and unemployment is still 33.33%. You will never get a perfect company or organisation in an economy with Nigeria's metrics (borrowing cost of 14% and inflation rate at 18.6%.).

She needed the place painted and a few other things fixed. Meaning, the place is not entirely bad as other 6 staff are living in the same staff quarters before her arrival. She could improvise or approach it differently. Lets be realistic, that company has a choice. Unemployment is 33.33%.

She seems to be at war with the company. She is on LinkedIn begging people to help her make the post go viral. Causing all kinds of problems within a month of employment. Do you think people will want her drama going forward?

She can't manage crisis and not a team person. She is demarketing herself.

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hopexter:
You get very poor mentality like your neighbour. Buying a house doesn’t mean he’s gonna live there. Property is investment. Always be reasonable so you don’t end up being a laughing stock

No mind them. He probably bought the house for his parent living in a rented apartment at Sango Ota, Ogun State. He already bought a car for his dad and now a house. A lot of those commenting are kids.

datola:
These CEOs are earning average of $1 million dollars per annum. That's huge world standard.

And our mitivationer speakers said you can never be rich/wealthy working for others.

I respect Dangotes sha for building world class companies.

Please non of them earn up to $500,000 a year. Using N605/US$1 exchange rate. Even at the CBN rate of N415, it would be around $500,000. However, these are earnings, does not include equities owned in the companies or even dividends on those equities.

Britishcoins:
Huge amount of money, like to say it will be more than 200k...
Nigeria self, saving and hungry and the same time.
I only save when I want to embark on project..
All my money is for business.. Only emergency fund is kept aside

It is actually an investment, I mean he is getting interest. So it is not saving in itself, even though that was the initial idea.

JoeNL22:
Yes I know. What I meant is when the are operational, you give them the tax credit.

How can you post a loss of (37 billion) after receiving such tax credits. It shows the management of Oando does not have an idea of what they are doing, and henceforth they should be sacked.

The bastard people don't have money to spend on capital intensive projects that will benefit the people and build Nigeria, but they(FG) have money to be giving themselves huge amounts of money has salary (13 million) for senator alone. I wonder how much the Senate and vice presidents and the president be collecting?.

Then the question is, why are they their in the first place when they can't make things work. Throughly accountability is minus ZERO in Nigeria or rather "ZOOGERIA"

The bolded is one thing all of us should be screaming. Too many incompetent leaders. Imagine, Oando is now trying to buy minority shareholders that were exposing them, and once that is done, the management said the company would be delisted from the stock market. With that, they will not be mandated to release their financial statements. That is how the entire Nigerian system operates.

Few people like Dangote are facing challenges because they based their investment on available government data. Those data are fake and highly incorrect. It was the same when he invested over $100 million in a tomato processing factory.

He did base on fake data that over 70% of farm produces rut on the farm. Several of the reports claimed a processing factory will help reduce wastage and reduce importation.

A few years after launching the processing factory continued to struggle for raw materials and has been shut down several times for lack of raw materials. Where is the 70% of farm produce wasting?

quentin06:
You guys dont ask yourself, where is he going to get the crude to refine petrol, look its not a refinery, but a depot for finish petroleum products.

Lol... Nigeria of course. Nigeria's crude oil production is presently at 1.42mbpd (our lowest in years). Dangote refinery is a 600,000 barrel capacity. In fact, it is better to sell to him than to export abroad given the process and logistic cost.