₦airaland Forum

Rebuke:
Congratulations to him.

Some people will not dare this in naija, the competition is high and lots of people with even higher qualifications are on the line and ready to accept even a lower offer.

However, this is my kind of thing. I tell yhu what I want and I let yhu decide on taking me or get lost

That's what happens when yhu know yhur worth.

adonaimart:
Congrats to him and the advise is valid.

However when negotiating your salary, do it from a position of strength.

What I mean is this, it will pay you if you have a job already or when you think, you have another better offer.

You can follow me for more tips on careers issues. Thanks in advance

Dalil8:
Only if you know your worth

toffyz:
O ba Ya e

abbeynism:
Clean $550 PayPal FnF Fund needed ASAP.

Idowu116:
and what if they get caught

The Nigerian Central Bank had a very busy year in 2021, battling epidemic effects, loss of purchasing power, and fostering economic growth, among other things.

Hence, Nigeria’s central bank governor, Godwin Emefiele, employed different commendable initiatives to accomplish the CBN’s goal, to manage these economic issues.

The extension of interest rate reductions on CBN intervention facilities, the N4 trillion invested in the agricultural sector, the establishment of the “Naira 4 Dollar Scheme,” the acceptance of the NAFEX rate as the inter-bank benchmark rate, and the introduction of the eNaira are just a few examples.

This report x-rays the many list of Emefiele’s led CBN primary policies aimed at achieving goals such as price stability, moderate inflation, employment, and economic growth.

CBN’s agriculture focused policies

The CBN has spent over N4 trillion on agriculture interventions across different platforms.

Earlier in 2021, the CBN launched the country’s first-ever rain-fed wheat program, with the goal of reducing wheat imports by 60% and saving $2 billion in foreign money yearly. According to the CBN, the scheme will assist over 150,000 farmers and will first be implemented in 15 states across the country.

The CBN has also put aside approximately N5.7 billion in loans for 10,000 farmers in Bauchi State to support dry season wheat farming, with 4,500 farmers benefiting so far.

Between September and October 2021, the bank disbursed N43.19 billion through the Anchor Borrowers’ Program to support the cultivation of 250,000 hectares of maize, sorghum, soya beans and rice during the 2021 dry season farming season, as well as N5.88 billion to finance six large-scale agricultural projects through the commercial agricultural agri-business scheme.

Rice has been a major concern for the Central Bank of Nigeria. Recall in 2015, the CBN issued a circular banning a list of 41 imported goods and services from accessing the official Nigerian foreign exchange market, and rice was at the top of the list.

Central Bank of Nigeria (CBN) unveiled an ultra-modern 420 metric tons per day capacity rice milling factory in Kano State. The decision was made in order to maintain the stability of the foreign exchange market and ensure the efficient utilization of foreign exchange. As a result, the CBN believed it was imperative to bar importers of certain goods and services from accessing foreign exchange at Nigerian foreign exchange markets in order to encourage local production of these items.

100 for 100 Policy

The CBN announced the launch of its new financial instrument, dubbed “The 100 for 100 PPP Policy on Production and Productivity,” on October 25, 2021.

The 100 for 100 PPP is a program that will provide financial support to 100 designated private sector enterprises every 100 days. Under this scheme, businesses can apply for up to N5 billion in funding. Any payment exceeding N5 billion would require CBN management’s special permission.

However, the scheme’s selection criteria confine the instrument to new projects exclusively, and it does not cover refinancing of existing facilities. The project, according to the CBN, is a long-term loan for the purchase of plant and machinery as well as working capital.

The Central Bank of Nigeria distributed N23.2 billion in loans to 28 recipients as part of the launch of its new “100 for 100” Production and Productivity Policy (PPP).

The ultimate goal of the policy is to reverse the nation’s reliance on imports by creating an ecosystem that targets and supports the right companies and projects.

Regulatory forbearance for the restructuring of credit facilities

As part of measures to reduce the impact of the COVID-19 epidemic on the economy, the Bank extended the window for lowering interest rates on its intervention facilities from 9% to 5% per year until February 28, 2022, on March 3, 2021. In addition, on a case-by-case basis, the roll-over of the moratorium on repayment of intervention facilities would be considered.

“Naira 4 Dollar Scheme” for diaspora remittances

The Bank introduced the “Naira 4 Dollar Scheme” on March 8, 2021, to boost the inflow of diaspora remittances into the country. The Scheme serves as an incentive, as all recipients of diaspora remittances, through CBN licensed International Money Transfer Operators, would be paid N5 per US$1 received as remittance inflow. The Scheme, originally scheduled to end on May 8, 2021, was extended indefinitely by the Bank, on May 5, 2021.

Adopting the NAFEX rate as the benchmark rate

In an effort to ensure uninterrupted services to customers on Unstructured Supplementary Service Data (USSD), a meeting held on March 15, 2021 and attended by Mobile Network Operators (MNOs), Association of Licensed Telecoms Operators of Nigeria, Nigerian Communications Commission (NCC) and the CBN, deliberated on and resolved key challenges.

The resolutions were: USSD services for financial transactions conducted at DMBs and all CBN – licensed institutions would be charged a flat fee of N6.98 per transaction effective March 16, 2021. In order to enhance convergence of exchange rates in Nigeria, the Bank, on May 24, 2021, adopted the NAFEX rate as the benchmark rate in the inter-bank market.

Fintech policy: Issuance of the framework for regulatory sandbox operation

The regulatory sandbox framework was published on January 13, 2021, following the CBN’s release of a draft framework in July 2020.

Because it provides a formal method for corporations and start-ups to undertake live tests of any novel goods, services delivery channels, or business models, the regulatory framework sandbox allows the CBN to actualize control over innovation in the FinTech industry.

The regulatory sandbox is not only for CBN licensees but also for other Nigerian corporations and enterprises that want to test their goods but aren’t regulated by the CBN.

Regulatory framework for open banking in Nigeria

In February 2021, the CBN published its Regulatory Framework for Open Banking in Nigeria, often known as the “Open Banking Framework.” Through the establishment of a single Banking Industry Application Program Interface (API) standard, the Open Banking Framework takes a supportive approach to open banking and provides guidelines for data exchange across the banking and financial services ecosystem.

APIs are essential for accomplishing the integration of the whole banking industry, as well as the underlying philosophy of Open Banking. In addition, the framework would encourage innovation, increase competition, increase financial inclusion, and broaden the range of financial products and services available in Nigeria.

Ban of forex sale to BDCs

The CBN outlawed the sale of foreign exchange (forex) to Bureaux De Change (BDC) operators in July 2021. The governor of the CBN, Godwin Emefiele made this known while addressing the press during the MPC briefing, 27th July 2021.

The central bank also confirmed that it will no longer license new BDC operations in the country and also halted all current processes for new licenses.

The governor noted that the actions of the BDCs were in contrast to the understanding with the apex bank, which highlights that the BDCs were allowed to make a small margin from the sales of the US dollar allocated to them by the CBN.

However, he opined that they had become somewhat greedy, by making abnormal profits, which had further affected the exchange rate of the country.

BDC Operators are now relying more than ever on peer to peer transactions to fund their dollar supplies amidst the CBN dollar sales ban. Those with stronger networks of buyers and sellers are able to attract more business while those without, struggle with volume.

Although, the issue of exchange rate is contentious the CBN plans to unveil a new FX bidding regime to support Nigerian companies in need of Forex, particularly those involved in local production and job creation.

eNaira, Nigeria’s first digital currency

The Central Bank of Nigeria (CBN) launched eNaira, the country’s first digital currency, in October. The eNaira acts as both a means of exchange and a store of value, providing better payment prospects in retail transactions. To launch the digital currency activities, the apex bank teamed with Bitt Inc.

The eNaira, Africa’s first digital currency, made its debut on October 25, 2021, and in less than two weeks, it had accomplished N46.3 million in transactions.

Bitt Inc, CBN’s technical partner, has revealed intentions to launch a new mobile application that will allow the unbanked to use eNaira.

eNaira, has had 694,000 downloads in the 95 days since it was launched and that shows a strong relationship between consumer and Banks. This shows that the CBN CBDC can also promote the banking sector rather than cause harm.

CBN TIES to help undergraduate and graduates

At the end of the year, the Central Bank of Nigeria (CBN) launched the Tertiary Institutions Entrepreneurship Scheme (TIES). TIES is a portal that allows undergraduates and graduates to apply for loans.

TIES’s main goal is to provide financing to Nigerian undergraduates and graduates from polytechnics and universities who have unique entrepreneurial and technological concepts.

TIES aims to move undergraduates and graduates away from white-collar jobs and direct them towards a culture of entrepreneurship development for economic growth and employment creation.

franchasng:
oh thats another good business though it is getting oversaturated already

franchasng:
He is into freelancing.


He sells gigs on upwork, etc.



If you can take some time and learn the below skills:

copywriting
advanced graphic design
computer programming
advanced web design
mobile app development
ebook publishing


If you master any or two of the skills above, it will help you work remotely online and earn money online legitimately.



Back in the days of my little beginning, some of those skills helped me live above my mates and colleagues then.


I was working remotely on upwork and freelancer.


You can create a niche based blog to also promote your services we call gigs, that way, you get upper hand.


You also learn to write convincing offers to get clients.

Skyview01:
and why is LASU begging this one to come back?

Unyime15:
Guy man go finish you school

As prices of commodities surge, Nigerians have expressed displeasure especially on the quantity of food items now sold at high prices.

Investors King reports from an online survey on the prices of food items in different regions of the country.

While residents in the west and east decried the prices of tomatoes, pepper, onions, egg, chicken and some other food items, they envied the northerners who according to them are enjoying these items in large quantities at cheaper rates.

Viewing the quantity of pepper and onions sold in Kano for N50, a dweller of the east exclaimed, “Wow! People dey enjoy for North. That Onions and Pepper go reach N400 for East. Things too cost here.”

A resident of Ogun state, showing the items she purchased at the market, lamented that she couldn’t get all the items on her list due to the increased prices.

She said a crate of eggs which was formerly N600 and N850 is currently sold for N1800. After bargaining on the price of a basket of tomatoes, she bought it for N1500 and 5kg of chicken for N8500.

“These are some of the things I got last Saturday from the market. The price of things continues to rise on a daily basis. I couldn’t get some of the things on my list because the money wasn’t enough to cover the rest of the other items. Life isn’t getting any easier,” she said.

A resident of Benin also aired his voice, saying a crate of eggs is now 1,850 while a basket of tomatoes goes for N1,000.

“Only God can help us out. Things are expensive especially foods and food materials and some Nigerians can not boast of making $5 per day. Our leaders are there enjoying themselves. To make things worse, ‘na Poor man pikin dem go still use for rituals.’ We need your help O Lord!” he said.

Meanwhile, a dweller of Magodo in Lagos State stated that the basket of tomatoes sold for N1500 in Ogun state cannot be sold less than N2500 in his area.

“I’m still hopeful that things will get better. Nigeria has been through worse and still survived. The major problem we have is lack of consistency,” one of them expressed hope.

Samed Olukoya, a Senior Analyst at Investors King, explained that some of the factors responsible for the continuous rise in the price of commodities are scarcity caused by farmers and herders crisis, government policies and transportation costs in conveying the goods to different locations.

In his words, “Rise in the prices of food items can be attributed to scarcity caused by farmers and herders crisis, bandit and other insecurity issues. For instance, most farmers can no longer cultivate on their farms or harvest because of kidnappers or killer herdsmen. The few that managed to do so are ready to part with it for a substantial amount.

“Also, the persistent increase in costs due to government policy is another factor pressuring the price of food items. Transportation cost to the city, cost of imported fertilizer, preservatives, etc have to be added to the price of a unit item.”

Speaking on the lower price of food items in the north, Olukoya said, “The North is known for its agriculture, hence the price disparity in food items between North and other parts of the country. It is also imperative to factor in the cost of transportation from the North to other regions, warehousing and prevalent insecurities that are preventing free movement of goods across the nation.”

Olukoya added that the situation is worsened by the nation’s weak wage growth, low household income and a high unemployment rate of 33.33 percent.

In his recommendation, he charged the government to ease rising prices of food items and address insecurity in the country as well as increase financial support for farmers.

Soso990240:
Now is the right time to invest.. Don't forget this comment in the future

sotall:
Market correction is part of Cryptocurrency .

Market crash is an opportunity for new investors to buy at lower price.

I currently wish BTC goes back to $500


Thats the real crash.

This bear market that happened last year and now are market manipulations to shake off paperhands

Carlyboi:
Even odunlade enrolled for an undergraduate program in Unilag few years ago don’t think he was a university graduate before he gained superstardom the one’s who had university degrees that I know of prior to become movie star’s are Yemi Solade,Yomi Fash-lanso,Funsho Adeolu even Muyiwa Ademola was already know before he enrolled in U.I. about 15 years ago.

phemmyfour:
Cos he plays the role better. Who are the not so learned that are getting better roles cos the likes of Odunlade, Femi Adebayo, Ibrahim chatta are graduates.

SEGLIZ:
the simple truth.

Emaildata854:
One thing we are not discussing well enough is that the tech industry in Nigeria seems to be the only sector creating jobs in this terrible Times

tctrills:
He was not forced to pay tax. Under US law, he could hold on to his stock. He is only eligible to pay tax until after selling stock so you are wrong in saying he was forced.
You do not pay tax for owning stock under the us law.
Musk carried out a survey asking the American public if the wanted him to sell some stock and pay tax. More than 50% said yes. Since he promised he would do what ever majority wanted, he went ahead with the tax.

yanabasee2:
You think he's a Nigerian that jumps taxes?


Some people are glad to pay their bills and as far as the government gives them an enabling ground for their business to thrive... Paying taxes won't matter...

Not when you don't even have light or good roads to transport your goods, yet they'll come and bring bills and make you run low...

Truth234:
NRx Pharmaceuticals claimed that its BriLife vaccine is effective on the Delta variant of the SARS-CoV-2 virus.

"The Israel Institute for Biological Research's report noted that mutations seen in the BriLife vaccine that may be responsible for effectiveness against variants occurred naturally as a function of the spontaneous acquisition of new characteristics by the live-virus vaccine, NRx said. The data suggest the vaccine may be capable of evolving to counter the Delta and other variants of concern, it said."

NRx Pharmaceuticals has gained about 58 percent since that announcement.

igbesachick:
india has 20% what .? that prediction was released before april outbreak in india. and india suffered 37% negative growth in 2020, adding your 20%, still 30% 17% negative.


dont put india and china in one sentence . that is insult to chInA