₦airaland Forum

I live in Aba. I no see light ooo

Bluearrow:
How?
I don't get your question?

What is happening to their CEO in USA?

Bluearrow:
Check what well?
It operates in the US with a US extension .us

What is happening to their CEO?

Bluearrow:
Instead of Nigeria govt to liaise with these people peacefully by asking for tax remittance & regulating their operations to follow official exchange rate, they are doing gra gra. US wey retain binance them think they don't know what they are doing. How can any responsible govt shut such a big market capable of generating good revenue. Not to talk of a struggling nation with a dwindling economy like ours

USA retain binance? Check well please

mrvitalis:
Lol after subsidy removal? Lmaooo APC propaganda

We are paying more subsidy now than we have ever paid... And we are also paying more for petrol now than we have ever paid

Divide those allocation by the exchange rate the u know states are getting far less

The dollar mentality in this country eeh.

olaric:
Lol; is Binance registered to do business in Nigeria? If they are; then there's a possibility they would release this data, but if not, then Nigeria is on a long thing...

Remember that it's against the law to do business in Nigeria when you are not a registered entity.

[quote author=Cantonese post=128986366]The question here now is this:
How has the arrest of the executives of Binance helped the economy to get stronger?[/quote
The volatility has stopped. The movement is predictable. Planning is easier. This is how it should be.

ManirBK:
https://thenationonlineng.net/10-states-paying-wage-award-to-workers/

Where is the Abia State governor that they celebrate every move he makes?

maureensylvia:
Are we that cheap?

SMH no pressure to my gender ❌

African mentality. So approaching a man means that women are cheap and playing hard to get means that they are expensive.

Dey play. There are several that played hard to get but when you eventually corner them you discover that they are as cheap as agege bread.

poshestmina:
If there's restroom /kitchen inside the apartment,I don't have energy for face me,I slap you houses ,just few adjustments 'ear and dear',I don see husband be that ,Mariah.

Correct wife material

Watinhapen:
I don’t understand this unnecessary fuse about Binance. How does an app control dollar exchange in Nigeria??

What has been the results since action was taken against them. Have you not noticed some measure of stability?

Massiveglory:
Blame binance
Blame emiefele
Blame peter obi
Blame buhari
Blame pdp
Blame north

If you leave this cluless and criminal group of grab it and run with it confusionists, they will begin to blame Herbert Macaulay, Lord lugard , Nnamdi Azikwe and Ahamdu bello for their failures and deadness in the country.

You guys said before that Nigeria would never touch binance executives. Who dares the powers of a government.

Watinhapen:
Atiku can’t leave PDP. Where will he go? APC and propaganda 5&6.

He was in PDP. From PDP to ACN. From ACN to APC. From APC to PDP. He has Obi's attributes.

Splashme:
I am also a professional accountant ...

Sir,
First, Nigeria's federal budget is an estimate of how much money govt will make (revenue) and spend (expenditure) over the next one year.

Second, 'expenditure proposals' of the budget do not exist in a vacuum but are tied to '
'projects/items'

Third, Sen Ningi is saying that 3 Trillion expenditure proposal cannot be traced to any expenditure items/projects ... meaning, that amount was padded and will be fraudulently siphoned.
.

You have answered me sir. I wasn't querying the issue in the news but the commenter's statement that regards a budget as an expenditure which is not. A budget is simply a statement of expected income and expenditure of a fixed period. It may or may not be realized.

An expenditure is actually money spent for a certain purpose. In a public forum like this people come here to learn. We shouldn't be making statements that we have no sound knowledge.

Splashme:
Nothing has changed Sir.
The Senator is even ready for suspension.

He maintains that the extra 3 Trillion was padded and that their expenditures cannot be traced
.

Is a budget an expenditure? I'm a professional accountant. I want to learn something new please.

wirinet:
Meanwhile, dollar is still N1600 in the black market and N1590 in the official market.

The key factors are:
*Volatility has reduced
* Near convergence with the parallel market.
This is a major achievement

Sheuns:
Do you know that CBN has printed new Naira notes this year?

Yet finance minister blames the previous administration for printing too much Naira.

The pictures I attached are for the doubting Thomas.

The 1000 naira note I attached was withdrawn by me over the ATM.

If truly there is excess naira in circulation, why is the new administration printing more in less than a year in office?

Funny man... hahaha. Printing new notes in economics palace means the CBN granting the government ways and means by allowing the government to draw down on credit that is not backed by production.

This is shameful. CBN governor of all people involved in forging documents and president's signature. What a shame.

PissInside:
Where will they see him to arrest ?

He has already been arrested in Nigeria. You people think that this nation is small.

EdwinBorngreat:
It is sad that he couldn't predict and think of possible solutions in three months

Are you guys playing politics, funny or outrightly being mischievous? How can you "predict and think of possible solutions" within three months even for a company that is moribund talk more of a complex country like Nigeria?

Procashtips:
Overvalued by who?

So now that they have returned back to "pegging" the naira like before but at a much higher rate, what has it changed except that it has brought more problems to the nation?

Before May last year, it was below ₦500, From May to November, went up to ₦981.

From November to now (4 months), went as high as ₦1900+, until the govt decided to cushion it again at ₦1580.

So how is this a good news?

Pegging how? Can anyone peg the parallel rate? There is official floating. The good evidence is that the spread between the official and parallel rates are thinning out. The attraction for speculators are reduced.

The government through the CBN fixed rates arbitrarily before now. Many people became overnight millionaires without production through round tripping.

Major gain for Nigeria: no more round tripping.

ImoleNaija:
Does one type with data? I no understand .

If you don't have data how can you type and post?

Seezion:
Nigeria is already known as one of the poorest countries in the world but i believe the duty of governments of the country (if they are sincere to themselves) is to work to change the status and not to make policies that deepened the poverty situation.

Whether anybody likes it or not, the policies taken by this government which is responsible for the hardship Nigerians are currently going through would only render more Nigerians poor and poorer.

In a country where unemployment/underemployment is so high, people are struggling to even feed and survive. A very good example is myself. I am underemployed, that is to say my salary is poor and nothing to write home about. Not as though i'm happy about this as i am still looking for better opportunities.

Of truth, only N600 was left with me yesterday. I couldn't afford to have dinner and so i slept empty stomach that yesterday. There's this woman selling bread near a bakery along the road i pass to work. Her price is considered the cheapest, so many people buy from her. My plan was to use the N600 to buy bread from there, which i can manage throughout the day or even till tomorrow, hopefully miracle can happen and another money enters my hand.

As i went there this morning, the N600 bread is now N800. No surprise about that at all, knowing the country we are living in today. This spoilt the plan and i was confused, disturbed and broken down. I stood there for over 5 mins hopelessly, with hunger and anger in me.

That small time, one elderly woman in the shop was sobbing. I later realized she started crying after she couldn't afford the current price of rice. Another guy came and asked for a pack of indomie and was told N1000. He sighed bitterly and left. Then i saw another two guys who came to the shop, joined their money together (400+400) and bought the N800 bread and divided it into two, for each.

That was a nice decision though even though it would reduce the quantity, but as i didnt see someone to join too, i left the place to work without buying the bread.

Any alternatives for me?

There's absolutely no alternative for since everything is on the high side. I could have opted for rice and beans, but i wont know when i will start crying after mamaput has dished the quantity for me. Surely it will be small. So i decided not to go near there. What about Garri and soup? I dont know for everywhere but i can tell you, there's mow where i could find a plate of Garri and soup for N600. Even if there is, i would still cry over the quantity. What about noodles that used to do 'rescue mission'? Well, i just told you a pack is now N1000, when i had only N600 with me. What of biscuit? I refused to "waste" my last money on something that would not last me the next 1 hour after i have eaten. Akara? Have you seen the sizes of Akara in recent? N100 own looks very small, so i still decided not to buy.

At the end, all options failed. Till this minute, nothing has entered my stomach and i'm still holding tight to my N600. Yes i am hungry and weak but the N600 must be for something that can keep me for a while, hopefully another money would come my way before i am hungry again.

Sadly, my in quote "salary" is still far, till Thursday next week, but i have to survive however it is.

It's a very tough time for most of us Nigerians right now.

Lastly, government should know that
most Nigerians are not asking for luxury, just basic things made affordable for survival and food is obviously not affordable to many Nigerians today. Please government should do something about food crisis in the country.

May God help us, the common citizens.

But you have enough data to type this long story. Misplacement of priority.

Procashtips:
From ₦981 in November to ₦1580 and they are mentioning stability?

Stability?

Our naira was overvalued back then. Stability means that the rates are no longer volatile. When rates become stable planning and forecasting becomes easy. Whatever the rate is let it be stable over a range of time. Everything will then adjust.

seborrhic:
Omo!
FIRST loss since MTN started operating in NGR!!
Emilokan,Emilokan,here we are!!!

No big deal. If you understand accounting and finance you will know that all the indices are good. Revenue and cash flow are good. The costs are properly controlled that's why inspite of high diesel cost (major cost component) they still recorded profit.

The snag: the fx rate. What to learn: the Nigerian economy has been operating on subsidized fx rate without backing by fundamentals. That's why the slightest item is sourced outside and not local.

What to do: financial reengineering. Only bring in items not available locally. With stable exchange rate without subsidy real profits will emerge including banks.

The days of subsidized profits are gone. MTN half year report will be positive (all things being equal).

Blackhacker:
Does anyone think we are heading in the right direction now?

Yeah..... absolutely. I know Mr Yemi Cardoso. Perfect gentleman. I worked under him. He has large pool of brilliant friends that he can draw knowledge from. Nigerian problems are not one man show.

See the mess from emefiele. $7b dollars in forwards out of which $2.4b are fake. Can someone see how deep Nigerian problem is?

Benwems:
He was VP.

OBJ gave him free hand on private what did he do. He sold the old NEPA to his friends. Did we get light.

israelmao:
Even though it started 30yrs ago but it came into fruition in LP-led government. Government also has its support.

Which support? The only support came from federal in terms of policies.

israelmao:
Abia State is a prototype of LP future government.Otti is setting the pace and blazing the trail for the nearest future to come.

This project that started almost 20 years ago has nothing to do with abia state, LP and Otti. It's pure private sector investment.

zoedew:
This man Atiku as the Vice-President of Nigeria decades back was in a position to reposition the electricity power industry in Nigeria when Obasanjo as President gave him free rein in the privatisation of State assets but what did he? He feathered his nest and that of his cronies and left power as comatose as it was before he had charge. Atiku is ell known to be a critical stakeholder in the power generating set business in Nigeria. When Atiku pontificates in the manner he does here he insults the intelligence of Nigerians who know where he is coming from. Atiku will do well to be quiet!

Thank you sir.

Benwems:
Atiku tends to make sense when he speaks.

He was in government for so many years. Why didn't he take these decisions? Talk is cheap indeed.

mariahAngel:
Does the water taste fresh?

Yeah absolutely. We just fill the tank of the water dispenser. That's all. Use double filter. At the tank up and on the tap that you take your drinking water.