₦airaland Forum

ruphytelecom:
9k how soon do you want to fix it

Mid next week. What's your best price?

Hi, how much does it cost to replace the broken screen on an iPad mini?
Thanks

Please send details to volunteeraction@gmail.com

Thanks all!

I am looking for a reliable agent to assist with moving my boxes from Nigeria to the UK. Has anyone had a good experience with agents moving stuff in this direction?
Please share details.

Thanks in advance!

I had the same challenge and had to use a passat 2.0 engine. I did not have to change my gear box and I really enjoyed the next two years I used the car before I sold it off.
If you have to change the engine, I suggest you try that although I know there are other engines you may be able to use.

Abegi! What happened when Abacha died? Even Abiola died and we still dey kampe. If anybody elects to kick a bucket, nothing will happen. People will cry and mourn, the rest will be 6 feet.

For the love of Nigeria, Jonathan should resolve the fuel subsidy debacle!

A lot has been said with respect to the fuel subsidy impasse we currently face as a nation. However, it appears we are not listening to one another. Government sees the rationale for the removal of fuel subsidy but cannot convince Nigerians to go through the pain. Nigerians on the other hand believe they may not survive the pain or the gain may just never come. To many, the Jonathan administration is eschewing its responsibilities to cater for the welfare of the Nigerian people by tackling corruption head on, securing our borders and dealing with the many externalities that have led to a monumental increase in the volume of PMS (petrol) consumed by Nigerians and the attendant increase in the volume of subsidy paid by government in the last 2 years Jonathan held sway.

To be clear, there are just two broad categories of PMS consumers in Nigeria: vehicle owners (be they rich or poor) and the poor/emerging middleclass who have to power their homes and small businesses using petrol generators due to the poor state of electricity supply in Nigeria today. AGO (diesel) which powers our industries, big companies and the homes of the rich had already been deregulated before now. Accordingly, if the generator you use in your home is fueled by PMS, you are a poor Nigerian (think about it, rich Nigerians use diesel generators) and you would be impacted by the deregulation of PMS. Government has also not tried to disprove the fact that the only benefit derived by Nigerians from Nigeria and its governments is ‘cheap’ fuel. We lack roads, security of life and property, water, electricity, infrastructure, etc. But we have government with officials who earn salaries and unjustifiable allowances funded from our taxes and collective wealth as a nation.

Interestingly, government seems to understand the challenge with pushing through this PMS deregulation agenda and has succinctly put it at the door step of the limited trust Nigerians have for the government of the day. VERY TRUE!
But why would I trust Jonathan’s government? A government that in all ramifications is insensitive to the plight of its people? A government where our foreign reserves have been depleted by more than half and we cannot see the impact of expenditure in terms of power, infrastructure and better quality of life for the people? A government that is bloated and has super high recurrent expenditure which it only seeks to reduce by 1 percent every year for the next 4 years? A government that expects poor Nigerians to obtain new drivers licenses and vehicle number plates, all before August this year? A government that has highlighted intentions to introduce toll gates without thinking or realising that there are no roads in the country? A government that has failed to deal effectively with the Boko Haram threat in Nigeria but has told us to live with it? A government that has failed to keep its own promises? Clearly, government is agitated by the ongoing protests and labour’s planned strike and is already taking desperate measures.

So, what should be done? A lot has been suggested by a broad section of Nigerians that mean well for the country. However, we are dealing with a government that is either cut in its ways or suffers from a mental block. My position: I support the deregulation of PMS! However, certain things can be done by a reasonable government to PROVE that it is sensitive to its people and concerned about their overall welfare.  To my mind, three things are fundamental.

First, charity should begin at home. Why should the people be in pain while in government, it is business as usual. Nigerians are more incensed about the insensitivity of government than they are about the increase in fuel prices. I buy my food. Why should the president not buy his? Why budget almost a billion for the feeding of Aso Rock in one year? Do these people not earn salaries? Why should the people endure the pain while those in government continue to engage in wasteful spending and the misappropriation of our taxes and collective wealth?
I would support the president when he starts buying his own food, takes a pay cut of 30 to 50 percent and implements same for all senior officials of government and political office holders. If government is sincere, this should be possible. We can save almost as much as we will from deregulation when government officials including the National Assembly take a pay cut. There are many ways to skin a cat. But will we try?

Second, a phased approach to deregulation, I believe, is the way to go. The government needs to articulate and communicate a roadmap for doing this in like manner as a previous government did with the Multi Year Tarrif Order (MYTO) which has phased the increases in the price of electricity in Nigeria. The phased deregulation must however be tied to specific milestones which, among other things, must of necessity include the planned increases in the provision of electricity supply to the Nigerian people based on the power sector roadmap. For example, there is a strong and direct link between the volume of PMS consumed in Nigeria and the volume of electricity supply in the country – most poor Nigerian homes don’t even own a car but a more significant proportion run some form of power generating system. In this light, a 20 percent increase may be tied to the achievement of 8 hours of constant power supply to all Nigerian homes. If government is positive about the power sector roadmap, it should be open to doing this as it further reflects a balanced view and sensitivity on the part of government.

Third, there has to be significant restructuring of the oil sector including the NNPC and DPR and the entire oil extraction, production and supply value chain. This recent attempt at deregulation is at best shameful since it makes no sense to deregulate and still dictate prices. Obviously, most fuel stations today sell above the 141 naira prescribed by the PPPRA and nothing has, or will, happen. With deregulation should come the scrapping of PPPRA and Petroleum Equalisation in Nigeria. Given that NNPC and DPR are cesspits of corruption, it takes a government with the WILL to deliver on this. Unfortunately, people in government are beneficiaries of the corruption that has pervaded the oil sector. Corruption, collusion and smuggling of products across our borders need to be dealt with head on by government. If government keeps making excuses and does not do its job, who will?

I strongly believe that Nigerians will support deregulation when government is sincere, more sensitive and the deregulation is better planned and phased. When deregulation is tied to the dividends government has promised, when government implements a huge cut in the cost of running itself and when we deal decisively with the corruption within our system, we will move another step forward.

There is still a small opportunity that Jonathan will wake up and think clearly.  For the love of Nigeria, Jonathan should give Nigerians a ray of hope!

Shersky, that is well said.

The government already taxes your property on all fronts:

There are annual tenement rates which you should pay to government. More often than not, people don't pay today but they usually will have to pay up to conduct transactions on their property in future (e.g. transfer ownership). Trust me, government is always waiting for you.

Capital Gains Tax - which you pay when you sell your property. Again many people don't make this payment which is charged on the capital appreciation (in the value) of the property. These are all documented in the law.

Also, there is the witholding tax on rent for commercial and residential property. Most people don't pay this. This should actually be witheld by the person paying and remitted to government. The receipts/certificates received should then be given to the landlord/landowner. This is usually 10%. Most people don't withold or remit this tax except for the corporates which are more compliant in terms of tax remittance because there is a lot of focus on them these days.
At the individual level, not much seems to be happening and there is little to no compliance and that is because government's focus today is even getting people to pay the most basic of taxes - income tax.

So, I strongly think that it is fine to pay your taxes and walk away feeling good. Where you do not, there is a fair chance that government will catch up with you at some later time. That could be soon.

And if you are already complaint, that is already a lot of tax to pay.

Pls email pix to volunteeraction@gmail.com

Harrassment from Customs, NDLEA and Immigration has always become the norm at airports.

You don't have to give a bribe, but you can give a 'tip' if you are up to it and are willing!

Some rules:

[list]
[li]Always arrive at the airport early as recommended by the airlines - 2 to 3 hours before your flight to give you enough time to go through formalities and fight any corrupt office hurdles you might face (most of them know you are probably running late for your flight and put pressure on you to give a bribe by delaying you)[list][/li]
[li][/li]
[/list]Like someone said, be confident but polite. Being polite does not mean being stupid.
Decline request for bribes politely by saying 'not today' or 'some other time', be sure to say goodbye!!!
Know your rights and stand by them. Create a scene if you must but be sure you're on the right side of the law.

Above all, again, always get to the airport in good time!
[/list]

Jenju, please help check this VIN: 1NXBR32EX5Z423625.

Thank you.

I have a car I'm no longer using which you may be interested in within that price range. A 90's model, bought new, factory a/c (needs gas top-up), well maintained, engine in top condition (my reason for keeping it this long), and no bodyworks required. Send me a mail at volunteeraction@gmail.com

Thanks Behind bobo, i would get an experienced auto mech but from experience, walking to your mech without prior insight can get you messed up terribly as I have little trust for mechs these days. Thanks all the same.

@sultaan, never had that light come on before, that would even have been more comforting.

Other thoughts welcome.

Dear Nairalanders,

Any other thoughts on this? You input appreciated.

Thanks cchioke, can you please throw more light on that?

Dear Monitor_1,

Would appreciate your assistance with this VIN: 1NXBR32EX5Z423625.

Thank you.

Hi Nairalanders,

Had to travel from Lagos to Ibadan on a quick meeting today and was surprised at how my fuel tank virtually emptied.

I left Lagos with my tank 3/4 full, and drove to Ibadan without experiencing any unusual traffic hold-up save for the many lorries on the expressway which slowed things down for me. Returned to Lagos immediately after my meeting and arrived home with my tank on reserve (reserve light on).

This has me worried and gives great concern. What could be the cause of this? Does the car have a defect or problem? I used the A/C all through the journey but don't think that could be the cause.

What do you think is the problem? Your urgent advise is appreciated.

750k. cash ready

send pix to volunteeraction@gmail.com

Still awaiting the pix!

Mail pix to volunteeraction@gmail.com

I have had one for 3 years.

Yeah, German car, drives well and hard very reliable in terms of performance. You however need to be wary of costs as well. Relative to Toyotas and Hondas, Bora is much more expensive to maintain. Parts cost at least 3 to 4 times more than the average Toyota vehicle. Electricals can be an issue but that would also depend on how you use the car and where you service/maintain it. Also, should mention this. The engines are quite sensitive and knock easily if adequate preventive maintenance is not taken and a replacement tokunbo engine for a Bora 1.6 typically costs 3 times that of a Honda Babyboy.
Overall, you need to be really prepared financially to maintain a Bora.

I think the policy is pretty simple. Most Nigerians who are not under PAYE engage in practices of tax evasion or avoidance. And as the Lagos government is keen on bringing such under the tax umbrella, self assessment was introduced so that even private enterpreneurs and even sole proprietors can conduct a self assessment and effect appropriate taxes based on their level of income.

However, you know Nigerians being who we are - I make 6 million naira in the year under assessment and declare that i made 600k and pay taxes based on 600k but can afford to buy a 3 million naira jeep!!! What LIRS is doing is taxing the value of those expenses on new cars (for example) as an INVITATION to new owners to confirm they pay the right taxes. Consequently, if you can show evidence that you do pay taxes (and the appropriate amounts), the additional tax and penalty is withdrawn.

I think it does make sense cos there's a lot of inequality in the country. If I pay my taxes, why should other people not pay theirs since we all equally benefit for the infrastructure that is almost not there!

send pics to volunteeraction@gmail.com

We should also remember that what was changed was the management team (CEOs and Executive Directors + CFO) and not the entire board of directors or chairmen. So most definitely, while Akingbola has been knocked off his saddle since CBN would not trust him to manage their money, he still has his equity intact but diminished to the extent of CBNs bail-out money. That same impact would be felt by everyone who has shares in any of the five banks and the more banks that may join them. And while CBN has automatically become a part of the board of those banks, it does not have a power of veto!

So simply, assuming an Akingbola or Ibru owned about 10% of their banks and CBN has now shored up their capital by say 40% to keep them solvent and in business, it means that initial 10% equity is now only worth about 6% or less (and same would have happened to the holding of all the shareholders of the bank including you and myself). The bank CEOs while being high profile overlooked the most important aspect of their banks (and jobs) - Risk Management! It was sheer recklessness (pitiable though) on their part.

Do you still remember how NNPC lent money to AP and AP could not repay and the debt was converted to equity and ultimately sold to Okocha, then Jimoh Buraimoh, and now Otedola. This scenario would play out if the former owner-managers cannot get enough money to buy back their banks or get willing partners to merge with.

I think a good number of contributors on this thread suffer from either plain ignorance, ethnic biogotry, stupidity or a combination of those! I don't see an ethnic dimension to the issue at hand; while the 'bail-out' given to the banks would wittle down the equity of the owner-managers, if they can bring in new investors or raise additional funding to the tune of the bail-out, the CBN has promised to revert management to them. How they want to do that, I do not know. What I see happening is further consolidation within the sector. Spring Bank would have topped that list if not with the take-over by PHB.

On some banks passing the CBN audit: what does passing an audit mean? Let me help: If I audit you and you "pass", it simply means that the information provided to me in your (recent) report to me are a true reflection of fact! The issue at hand goes beyond that: what Mrs Ibru did not mention is the fact that Oceanic like all the other banks did not provision for all of their bad loans as required by the CBN (this is why their so-called profits were declared as phantom or paper profits in the first place). While Oceanic passed the CBN audit, providing for the bad loans meant a negative N42 billion in bad loans hitting their balance sheet aside other issues that were initially treated as off-balance sheet. Her cry, while painful even for me, is like a drowning man clutching to a floating straw.

Soludo was the best CBN governor we could have at the time he was governor, and he did turn around the banking sector immensely. Methinks he did compromise towards the end of his tenure by adopting a softer stance towards the banks as he had built close relationships with the bank CEOs. Consequently, rather than bringing down the hammer on the banks, he elected instead to pad them up through the Expanded Discount Window (EDW) with the hope that they'll recover quickly. I do not call that failure (my definition) looking at the quantum of achievement he has behind his name. If Soludo were still the governor, do you think he would wait for the banks to go under? As an advisor in financial services, I was aware Soludo was driving further consolidation in the industry albeit behind the scenes (talk about Spring Bank, Wema);

Sanusi's own approach is to drive an open and forceful consolidation in the industry (mark my words). And I think he is right as well. In terms of what is being achieved, it is no different from what Soludo was driving only that Sanusi instead chose a rather confrontational approach to it and let us hope that this does not erode the confidence of the banking public in the Nigerian banking industry. We should not move away from the facts and the new governor has made that clear, the capital base of the banks have been eroded and they need to capitalise. That is plain English for "banks should bring in new investors" but where is the money? The ultimate objective is for the banks to further consolidate and Sanusi had made that clear before he became governor that we shouldn't have more than 15 banks in Nigeria; remember Soludo's own consolidation programme had the same objective. What I see clearly is a difference in approach to dealing with this issue.

The banks really have messy risk management frameworks and corporate governance frameworks they do not adhere to. Let's remember that Soludo drove all the banks to put in place risk management frameworks including mandating that each bank had an executive director overseeing risk management (pls, check these facts); or how else did Sanusi end up as ED, Risk Management in First Bank in the very first place. I see what has happened as a process within a continuum. While Central/Reserve Bank governors are usually top notch economists but that does not mean we cannot have a governor who is not an economist at Phd level. Having worked with the CBN, I know that there are hoards of senior economists within the staff and board but Sanusi's background as a risk management professional will no doubt serve our needs at this time. I am particularly impressed with the fact that he is able to face up the issue at hand and stand up to the "sacred cows" in the banking industry.

Also send the pictures to me at volunteeraction@gmail.com,

@Goldmann, KPMG like other professional services firms almost always experience a high staff turnover due to people seeking a change in career and movement to other industries (The average staff spend about 3 years in such firms before moving out of the industry). This is the norm and is not an exception. What you need to note is that a positive net staff head count implies firm growth.

Seems however that your mind is made up, just need someone to validate your decision. I am. You can always go back to Zenith or anywhere else (at a higher level) if you so wish.

Best of luck

Our client, a financial services consultancy outfit, seeks to fill the following position immediately:

PROJECT MANAGER (Financial Services)

Key Functions
• Manage the implementation of client’s strategic plans in line with agreed timelines.
• Liaise with project team members and key stakeholders to develop and implement strategies while playing a proactive role to ensure realization of the project.
• Ensure delivery of assigned Projects within the Time, Budget and Quality constraints in conjunction with key stakeholders.
• Ensure assigned projects conform to industry standards.
• Timely and accurate progress reporting of assigned projects to all key stakeholders.
• Provide effective leadership and keep team motivated for successful delivery of projects.
• Ensure that effective Change Management of assigned projects.
• Manage relationship with both internal and external interfaces to assure buy-in and successful delivery of assigned projects.
• Prepare detailed and timely reports on work status.
• Keep abreast of new trends, developments and regulations in the Nigerian financial services industry.

Qualifications
• Bachelor or Higher Degree(s).
• Professional qualifications or an MBA would be an added advantage.
• Experience in the financial services industry is preferred and is of top-priority.
• Experience of practical project management practice in Business Consulting and/or certification in a structured project/programme management methodology such as Prince2, PMP is an added advantage.
• At least five (5) years project experience in financial services.

Person Specifications
• Excellent organisational skills.
• Excellent communication skills – writing, presentation, facilitation.
• Proficient in Microsoft office (Word, Excel, PowerPoint, Project).
• Previous administrative experience, with well developed time management skills and the ability to successfully manage a high volume of routine tasks to meet deadlines.
• Attention to detail, and the ability to maintain high standards of accuracy even when under pressure.
• Strategic outlook, strong drive and delivery focused.
• Good team-work competencies and the ability to work independently with minimal supervision.
• Self-motivated, flexible, and well able to work under pressure.
• Should be ready to work for projects all over Nigeria.
• Willing to consider individuals that could have been displaced in the financial sector reforms.
• Will consider highly experienced candidates up to 50 years of age.

Qualified candidates are invited to send in their cover letters and detailed curriculum vitae quoting “Project Manager” as the subject of the mail to: volunteeraction@gmail.com .

Applications received after 5.00pm on Friday 24th October 2008 would not be considered.