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Politics / Re: CBN Raises Interest Rate (MPR) To 22.75% by yhemsy62(m): 5:59pm On Feb 27 |
Me that I don't understand all this money terms was just looking like what's the meaning ๐. Thanks to the intelligent folks up there for their analysis. Nairaland really have some great minds but tribalist makes it look like the forum harbour slowpokes |
Politics / Re: Sanwo-Olu Performs Groundbreaking Ceremony Of โThe Lagos Arena' by yhemsy62(m): 1:11pm On Feb 24 |
Sanwo Olu is not slowing down, Lagos is moving forward 34 Likes 3 Shares |
Politics / Re: Yayi In The Crosshairs: Navigating Allegations Of Project Conversion In Ogun by yhemsy62(m): 11:20am On Feb 18 |
omoadeleye:Your wish shall not be granted. I understand how much it pains not having someone like him representing your constituency. I understand ๐ don't cry you hear? Don't cry don't cry ๐๐๐ 1 Like |
Politics / Re: Yayi In The Crosshairs: Navigating Allegations Of Project Conversion In Ogun by yhemsy62(m): 6:51am On Feb 18 |
Niyonice: The forms were shared on an open field irrespective of who you are. Politicians tried to hijacked the process but they were shun and told to go away. Initially when the forms were brought to my local government, the local government chairman hijacked it and shared the forms amongst his loyalists and his political allies. The chairman of artisan in my local make a video calling him out, the video was posted on Facebook and Senator Yayi gets to see it. So he nullified it and order for resharing of the forms. 3,000 forms were shared in my local government alone. Very transparent 5 Likes |
Politics / Re: Yayi In The Crosshairs: Navigating Allegations Of Project Conversion In Ogun by yhemsy62(m): 6:35am On Feb 18 |
I can some ignorant comments here. Even though it's government projects that he converted to his personal project, what matters is he distributed it to the people in need of it and not the other way round. So it means this type of projects is what federal government has been awarding but never reached the targeted audience but now that someone decided to do it, it becomes a political which hunt as he is exposing there greediness. Please allow the guy to continue converting more federal government projects so far he's delivering it the the rightful people. Others senators that are not converting federal government projects where do they keep it? Was it not in there pocket?? Please Yayi Yewa people needs you to convert More of federal government projects in your name so far you are doing the right thing. And moreover the Anchor of the program even stated it clearly that this is Federal government, APC program. So what's the fuse all about?? But the useless journalist fails to investigate others that are not converting federal government projects in their names and still failed to deliver the purported federal government projects to their people on behalf of the federal government. All I see here is some bad elements who are not happy at the rate by which Senator Yayi is moving paying the Media to come online to talk trash about him. Their mission is dead on arrival. SENATOR SOLOMON OLAMILEKAN ADEOLA Is here to stay. No shaking No amount of bad mouthing can stop Yewa people from standing firm with him. Now it is clear and save to say that Other Senators that have been representing Us before him kept all these to themselves and their families all alone. Yayi have open our eyes 9 Likes |
Forum Games / Re: UK, Japan Economies Slip Into Recession by yhemsy62(m): 12:17pm On Feb 15 |
Will still prefer being in recession in UK and Japan than not being in recession Nigeria 6 Likes |
Politics / Re: Tax Dispute: Multichoice Agrees To Pay N35 Billion To FIRS by yhemsy62(m): 7:54am On Feb 11 |
Imagine how this people ripping us in our country. Not even in their country of birth do they make such money
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Properties / Re: Have You Ever Lived On A Street Where Their Transformer Always Blows? by yhemsy62(m): 12:01pm On Jan 17 |
Normal thing for my area here in Naraguta village 1 Like |
Politics / Re: EFCC Uncovers N37B Fraud In Humanitarian Ministry, Indicts Sadiya Umar-Farouk by yhemsy62(m): 6:53am On Dec 24, 2023 |
That woman stole more than that EFCC should dig more on their investigation 10 Likes |
Investment / CBN to Introduce New Naira Policy by yhemsy62(m): 6:13pm On Sep 12, 2023 |
The new โStrategic Agenda for the Nairaโ was announced by the Central Bank of Nigeria, generating a healthy national debate. Before we undertake a nationwide enlightenment program (beginning November 2) to educate the public on the new policy, it is important to clarify some of the issues/questions that are emerging. Needless to emphasize that to appreciate the full impact of the new policy on the Naira/national economy, we need to take the 4-point agenda as a package. As a package, the new agenda will: better anchor inflation expectations, strengthen public confidence in the Naira, make for easier conversion to other major currencies, reverse tendency for currency substitution, eliminate higher denomination notes with lower purchasing power, reduce the cost of production, distribution, and processing of currency, promote the usage of coins and thus a more efficient pricing and payments system, promote the availability of cleaner notes, deepen the Forex market, ensure more effective liquidity management and monetary policy, convertibility of the Naira and hence greater confidence in the national economy and lead to greater inflow of foreign investment position the Naira to become the โReference currencyโ in Africa. However, most of the questions so far pertain to only one aspect of the agenda, i.e., currency Re-denomination. We have monitored the reactions so far, and note that the concerns/questions raised so far are similar to the ones raised in all the countries that have undertaken re-denomination, including Ghana that is still implementing it now. We clarify some of the concerns as follows: ๐๐ก๐๐ญ ๐ข๐ฌ ๐๐ฎ๐ซ๐ซ๐๐ง๐๐ฒ ๐ซ๐๐๐๐ง๐จ๐ฆ๐ข๐ง๐๐ญ๐ข๐จ๐ง? Currency redenomination is the process where a new unit of money replaces the old unit with a certain ratio. It is achieved by removing zeros from a currency or moving some decimal points to the left, with the aim of correcting perceived misalignment in the currency and pricing structure, and enhancing the credibility of the local currency. ๐๐จ๐ฐ ๐ฐ๐ข๐ฅ๐ฅ ๐ญ๐ก๐ ๐๐๐ข๐ซ๐ ๐๐ ๐ซ๐๐๐๐ง๐จ๐ฆ๐ข๐ง๐๐ญ๐๐? It is by dropping two zeros from the currency or moving two decimal places to the left. The name of the national currency will still be the Naira. However, during the transition period, the existing Naira will be referred to as the โOld Nairaโ, and the new one to be called the โNew Nairaโ. After the transition period, the word โNewโ may be dropped. For example, the following equivalents will obtain as we re-denominate: ๐๐ฅ๐ ๐๐๐ข๐ซ๐ (๐ข.๐, ๐๐ฑ๐ข๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ข๐ซ๐ ๐๐ฌ ๐๐ญ ๐ญ๐จ๐๐๐ฒ) ๐๐๐ฐ ๐๐๐ข๐ซ๐ (๐๐ฌ ๐๐ซ๐จ๐ฆ ,๐๐๐ง๐ฎ๐๐ซ๐ฒ ๐๐๐๐ ๐ฉ๐จ๐ฅ๐ข๐๐ฒ ๐ฐ๐จ๐ฎ๐ฅ๐ ๐๐ ๐๐ฎ๐ฅ๐ฅ๐ฒ ๐ข๐ฆ๐ฉ๐ฅ๐๐ฆ๐๐ง๐ญ๐๐ ๐๐ฒ ๐๐๐ง ) 50 kobo Half kobo** N 1 = 1 kobo coin N 2 = 2 kobo coin N 5 = 5 kobo coin N 10 = 10 kobo coin N 20 = 20 kobo coin N 50 = 50 kobo coin or note*** N 100 = N 1 note N 200 N 2 note** N 500 = N 5 note N 1000 = N 10 note N 2000* = N 20 note ๐๐จ๐ฐ ๐ฐ๐ข๐ฅ๐ฅ ๐ข๐ญ ๐ฐ๐จ๐ซ๐ค? The โnew Nairaโ coins and notes will be different from the existing ones i.e. in design, appearance, security features, etc. All Naira assets and liabilities (including bank deposits), prices, fees, rents, and contracts (including salaries and wages) will be re-denominated by dropping two zeroes or moving two decimal points to the left. During the โtransition periodโ prices will be quoted in both the โnew Nairaโ and the โOld Nairaโ and everyone will choose whether to pay in the new or old Naira. These five months will be allowed so that everyone will get familiar with the conversion, and it will become self-evident to everyone why he/she would prefer to transact in the โnew Nairaโ rather than the โold Nairaโ. For example, if a bag of garri sells for N2,000 (old Naira), the price in โnew Nairaโ will automatically be N20. The customer will choose to pay either N2000 in old Naira or N20 in the โnew Nairaโ. In the supermarkets and formal markets, prices will be displayed in both โoldโ and โnewโ Naira. In the informal markets where prices are negotiated, the negotiation could be done in the โold Nairaโ as usual and converted into the โnew Nairaโ if the customer wishes to pay with the โnew Nairaโ. This will ensure that prices do not rise due to rounding-up. The five months are also needed for everyone (formal and informal sectors) to become fully familiar with the conversion. It will become obvious to everyone that N50,000 of the โold Nairaโ has the same purchasing power as N500 of the โnew Nairaโ. The question then would be: why carry N50,000 of old Naira when N500 of the new Naira will buy you the same thing? Consequently, if you have N50,000 in your bank account, it will automatically become N500 in the โnew Nairaโ i.e. if you want to withdraw in the โnew Nairaโ or you can still withdraw N50,000 in โold Nairaโ during the transition period (January 2024). Similarly, someone whose monthly salary is N50,000 can choose (during the transition period) whether to withdraw and spend the N50,000 in โold Nairaโ or N500 in the โnew Nairaโ. Both would buy him/her the same value of goods and services. Examples of price equivalents in the new and old Naira could be: ๐๐๐ซ๐ ๐๐ซ๐ ๐ญ๐ก๐ ๐๐ก๐๐ง๐ ๐๐ฌ ๐ญ๐ก๐๐ญ ๐ฐ๐จ๐ฎ๐ฅ๐ ๐ญ๐๐ค๐ ๐๐๐๐๐๐ญ ๐๐ฒ ๐๐๐ง๐ฎ๐๐ซ๐ฒ ๐๐๐๐ ๐๐ฌ ๐ฉ๐ฅ๐๐ง๐ง๐๐ ๐๐ฒ ๐ญ๐ก๐ ๐๐๐ฆ๐ข๐ง๐ข๐ฌ๐ญ๐ซ๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐จ๐ฅ๐ ๐๐ก๐ฆ๐๐ ๐๐ข๐ง๐ฎ๐๐ฎ. House rent (e.g. a flat in some parts of Nigeria) N5000 per month N50 per month Stock price of a company Assume it is, say: N20 or N80 20 kobo or 80 kobo Airline ticket for domestic flight N12,500 = N125 Fuel Price N500 = N5 Exchange rate: N to US$ Assume it is say: N125 Or N130 Or N100 to US$1. N1.25 = US$1 Or N1.30 = US$1 Or N1 = US$1 This decision has been taken by the cbn by the directive of President Bola Ahmed Tinubu to reduce the surfering of Nigerians and also slow down inflation. If you have the old Naira start getting ready to switch to the new Naira, this message is meant to prepare Nigeria for the changes ahead. It needs to be shared to ensure everyone is well prepared for the new Naira notes. Nigerians Renowned hope is coming. *Please share it to most platform* *Share by Tomorrow Focus group (TOFG) PLATFORM* COPIED 1 Like 1 Share |
Education / Re: First Yorรนbรก Textbook Unveiled In China by yhemsy62(m): 5:51pm On Jul 12, 2023 |
This is interesting 1 Like 1 Share |
Politics / Re: My Take On 5% Telecommunications Excise Duty Suspension Approval By Woye by yhemsy62(m): 5:58pm On Jul 06, 2023 |
Uncle Woye always shed lights on issues like this so that the confused can be cleared of their confusion 3 Likes |
Politics / Re: EU Raises Concern Over Independence Of INEC by yhemsy62(m): 8:12pm On Jul 02, 2023 |
Wetin concerned EU and Nigeria election? Nigeria be part of eu or what exactly |
Politics / Re: President Tinubu Appoints Special Advisers by yhemsy62(m): 4:35pm On Jun 15, 2023 |
You all should watch out for this man below has MINISTER OF DEFENSE. It will shock a lot of people
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Celebrities / Re: Nollywood Star Don Brymo Is Dead by yhemsy62(m): 10:52am On Jun 15, 2023 |
kestolove95:don't exhibit your idiocy on public forum. 1 Like |
Politics / Re: Tinubu Suspends Mele Kyari-NNPC GMD,Gives Reasons by yhemsy62(m): 9:58pm On Jun 10, 2023 |
No news outlets have confirmed this yet 4 Likes 2 Shares |
Politics / Re: Suspension Of CBN Governor Raises Concerns About The Independence Of The CBN by yhemsy62(m): 9:00am On Jun 10, 2023 |
What nonsense independent are you talking about?? |
Politics / Re: Wikipedia Just Updated Tinubu's Profile As President by yhemsy62(m): 6:41pm On May 29, 2023 |
slawomir:I use to think this guy is normal until he proof me wrong. Imagine the trash ๐๏ธ that the werey is typing, normally you supposed know say na you and your entire household things go worst for not for well-meaning Nigerian. |
Politics / Re: Say Your Prayers For The New Administration by yhemsy62(m): 6:22am On May 29, 2023 |
I pray ๐ my dearest country experience unprecedented growth and peace ๐๏ธ under this administration. I prayed Nigeria become great and highly respected among great nations. All I wish this administration is to succeed. God bless Nigeria |
Health / Re: Erectile Dysfunction by yhemsy62(m): 12:43pm On Apr 29, 2023 |
Op try dey eat boli and groundnuts very well, tigernut, dates, coconut, ripped plantains, watermelon, penaple with three crown milk. Wo your wife go testify Speaking from experience 3 Likes 1 Share |
Politics / Re: Anambra massive investments in health sector in recent years(photos) by yhemsy62(m): 7:24am On Apr 29, 2023 |
Please guys I need your urgent help. I'm a student of university of Jos, I need help to pay my house rent of #60,000 but I'm totally broke. Please any amount will be appreciated. House rent due since February and my caretaker is not taking anymore of excuses from me please NB: I SPONSORED MYSELF, BUT HAVE NO MEANS THIS TIME Opay 8066424897 |
Crime / Re: "I'm Tired Of This NYSC. It's Either Garri Or Yam Every Day" - Corps Member by yhemsy62(m): 7:21am On Apr 29, 2023 |
Please guys I need your urgent help. I'm a student of university of Jos, I need help to pay my house rent of #60,000 but I'm totally broke. Please any amount will be appreciated. House rent due since February and my caretaker is not taking anymore of excuses from me please NB: I SPONSORED MYSELF, BUT HAVE NO MEANS THIS TIME Opay 8066424897 |
Crime / Re: Police Arrest Kidnappers In Police Vests For Abducting A Man In Anambra by yhemsy62(m): 7:18am On Apr 29, 2023 |
Please guys I need your urgent help. I'm a student of university of Jos, I need help to pay my house rent of #60,000 but I'm totally broke. Please any amount will be appreciated. House rent due since February and my caretaker is not taking anymore of excuses from me please NB: I SPONSORED MYSELF, BUT HAVE NO MEANS THIS TIME Opay 8066424897 |
Politics / Re: ADCs Of Nigerian Heads Of State Since 1956 by yhemsy62(m): 6:51am On Apr 29, 2023 |
Sorry guys |
Education / Re: Our Lecturers Will Leave This Country After The ASUU Strike - ASUU President by yhemsy62(m): 7:27am On Sep 22, 2022 |
porawio:They are already moving outside the country |
Education / How Many Students Can Identify What ASUU Demands Are?? by yhemsy62(m): 9:06am On Jul 27, 2022 |
I was browsing through my Twitter this morning when I come across this tweet by Seun Osewa, challenging people to point out the "ASUU DEMANDS" So I think it would be nice to talk about this here also, because I believe not everyone knows what ASUU DEMANDS actually entails. So on behalf of Seun Osewa I brought this here for great mind folks to have a say on this topic
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Foreign Affairs / Re: India Prepares To Boost Russian Coal Imports Amid Western Sanctions by yhemsy62(m): 7:47am On Apr 15, 2022 |
Kingsnairaland: 2 Likes 2 Shares |
Islam for Muslims / Re: Ramadan Day 1: What Did You Have For Sahur? by yhemsy62(m): 10:34am On Apr 02, 2022 |
I drink garri |
Celebrities / Re: Nigerian Celebrities Mark International Womenโs Day With Gorgeous Pictures by yhemsy62(m): 1:26pm On Mar 08, 2022 |
When was the date for International Men's day |
Education / Re: What's The Slogan Of Your University? by yhemsy62(m): 8:55pm On Feb 25, 2022 |
Unijos: Discipline and Dedication |
Science/Technology / Re: The Elephant That Was Spotted In Oyo Dies In University Of Ibadan Custody (Pics) by yhemsy62(m): 1:08pm On Feb 18, 2022 |
Nobody is safe. Not even animals are spared 6 Likes 1 Share |
Business / Re: I Just Got My Inheritance; I Need Your Advice by yhemsy62(m): 12:11pm On Jan 24, 2022 |
Boogiebee: May God forgive the departed soul. What I'll advise is now that crypto price has fall significantly I think you put some of ur inheritance into it. Do your own research on a good crypto project you can invest on, I promise it worth every of your efforts you put in making findings if you give it a consideration NB: I can recommend some if need be, but the best way is for you to do your own research |
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