₦airaland Forum

Tough times, buhari is trying to tear families apart with this his useless policies. All this loans he is taking has resulted in poverty among the masses rather than economic liberation.

Your wife never loved you, but bear with her.

Government should privatize the railway industry

Even a non league club in England won't employ him. This man is a failure. It's time to go man

Rohr never achieved any thing good for Nigeria. Even San Marino in Europe can't employ him sel. The guy used NIG to catch cruise.

Big lie, USA will still sell guns and bomb

Please what are the requirements for becoming a nairaland moderator and how much are they paid.

This people might win us

Ammishaddai:
Bros, Africa has nothing to offer those refugees. Secondly, Africa also battling with something similar , so it doesn't make sense running from frying pan to fire

That not true, what about the rich Middle Eastern countries

With the recent tension going on along Belarus Poland border, why do hundreds of thousands of migrants from middle east and Asia avoid African countries and rich Middle Eastern countries like Saudi Arabia, Qatar, Kuwait, UAE, BARAIN etc

[quote author=garfield1 post=107607695]___

By Levinus Nwabughiogu-Abuja

Following the death of Hon. Haruna Maitala who hitherto represented Jos North/Bassa Federal Constituency of Plateau State, the Speaker of the House of Representatives, Hon. Femi Gbajabiamila, Tuesday, declared the seat vacant.

This was as another member from the minority caucus defected to the ruling All Progressives Congress (APC).


READ ALSO:Reps extend teachers retirement age

It will be recalled that Maitala lost his life in an accident on April 3, 2021.



The official declaration is an approval for the Independent National Electoral Commission (INEC) to conduct election and fill vacant seat.

At the plenary yesterday, the Speaker announced the defection of the member representing Ogbomoso North, Ogbomoso South and Orire Federal Constituency of Oyo State, Hon. Jacob Ajao Adejumo to APC.



Until his defection, Adejumo was a member of the Action Democratic Party (ADP).

In his defection letter read by the Speaker, Adejumo who was a former member of APC before defecting to ADP said he was going back home.



“I left the APC before for ADP, because I couldn’t get the ticket. But now I’m going back home (APC). Your (Gbajabiamila) charismatic and all-inclusive, transparent and objective leadership of this house won my admiration for you and the progressives party in moving the nation forward”, Adejumo said in the letter.

https://www.google.com/url?q=https://www.vanguardngr.com/2021/11/gbajabiamila-declares-jos-north-bassa-federal-constituency-seat-vacant-as-adp-rep-defects-to-apc/&sa=U&ved=2ahUKEwi5hrOg15f0AhVExhoKHcuqDV4QFnoECAcQAg&usg=AOvVaw1_rux_5oLrYssmrlDrPjzI


Please when a speaker is impeached, do the impeached speaker retains his seat as a honorable

Is no longer big news that if you watch various international news stations like al jazeera, BBC, CNN etc over the last three months, there is this high rate in the reporting of news concerning climate change. Also various documentaries, adverts are been aired to make people aware of the impact of climate change on our environment.

Alot of cities/nations eg Bangladesh, Tuvalu, Venice, The Gambia, Netherlands, state of Florida etc would be under water by 2050 if countries don't reduce their carbon emissions.

Not forgetting about desertification, forest fire, flooding, heat waves, irregular rain falls, food shortage etc


It high time we phase out the burning of coal, although we can't rule out crude oil and natural gas as alot of countries depends on it. Countries should invest in Renewable energy such as solar energy, wind, hydro due to their low carbon emission.

Without the sea port and airport in Lagos, Lagos state would have been a low grade kogi state

Pi is designed to surpass bitcoin as the most valuable CRYPTO come 2030. My dear nairalanders, how many pi have you mined so far. I have 2367

Invitation code Youngray007

FTC

mdntiri:
.

Some pros I see for "easy" money making in Nigeria are your large population, you have more rich people, more "millionaires", whether good money or fraudulently earned, things are cheaper in Nigeria, fuel is cheaper in Nigeria and by consequence transportation, food, housing etc is cheaper, there's lots of import of stuff so things are cheaper, buying and selling moves faster in Nigeria, there's market for everything in Nigeria. I've seen your slaughter houses sell everything on a cow including the blood, undigested food in the stomach, the toilet etc. There's not that much diversity in Ghana. Nigerians are big spenders

Some cons I see are your large population may not actually be rich. I've read reports here of 99 percent of Nigerians having less than 500,000 naira in their accounts. There's also the "poverty capital" thing. You have about 40 percent poverty rate, Ghana has about 20 percent. There's insecurity, epileptic electricity supply. There're lots of entrepreneurs in Nigeria so the system is choked. Plenty People are chasing fewer money

Ghana is expensive. Only Accra, Kumasi and Takoradi have 1 million people and over. There's a lot of supply here, less demand for stuff. It's EASIER to export stuff from Ghana than Nigeria, and it's one reason why the cedi is strong because our exports are diversified. The name Ghana has become attractive and there's lots of demand for Ghana made stuff by African Americans/ Ghanaians/Africans in the diaspora like our prints(kente), chocolate, food, soap, etc


I don't know about how much money is in our bank accounts but our mobile money accounts is worth 68 billion dollars (2015-2020), some rate it higher. Lots of people/businesses move tremendous amounts of money through the mobile money platform

Ghana has a virgin, growing market, so there's lots of opportunities to make money, people are coming here for education/holidays etc.

House owners here especially in Accra qoute outrageous charges, take 2 years advance, can charge practically anything for their houses. They make good money

TOURISM is a big seller here. There's a growing Nigeria population here and businesses targeting them fetch tidy profit.

My Nigeria-Ghana cousin has quit her good job at Guinness and is making fruit juice and making big profits. She sells to middle class people. If too many people start doing her type of business she may not make good money.

Artisan masons, tilers, etc in Accra, Kumasi are making good money. They pay no taxes, there're plans to tax them.

Ghana is expensive, so you may make good money but expend a lot of it on fuel, housing etc.

I think it's easier to make 1000 dollars in Nigeria than Ghana. Nigeria's insecurity is a major problem. Some of my Ghana uncles came to Nigeria, got jobs, made money, bought cars etc. They wouldn't have gotten same in Ghana. But that was years ago.

Nice write up, thumbs up

So DJ cuppy na first daughter. She should better go and marry.

There have been high rates of increase in food stuff, rent, medical bills /supplies, gas, electricity bills, transportation fares etc could this affect Nigerian economy

mdntiri:
You're missing the point. I've given you an EDUCATED reason for ranking Africa's strongest currencies. If the yen for example consistently performs better than the euro, to the extent where you need more euro for fewer yen, then the yen has become stronger than the euro. Lots of currencies are stronger than the dollar, but the dollar has world wide appeal, and people choose to trade with it.

Aside the demand and supply factors affecting currency strength, inflation etc also determines currency strength.

In your ranking, and in the ranking I provided, the cedi is a better performer than the naira, so your old question on the cedi-naira strength is answered.

I'm Ghanaian, but if the rankings that put the cedi third best in Africa is not true, I'd point it out. These rankings are even unstable because the currencies are changing positions month after month.

OK, I think I understand where you are heading to. But please am happy you said u are a Ghanaian. Please I have a question for you, between a Ghanaian and a Nigerian, which is easier to make 1000$ in his business.

Hello readers out there, please what is the idea number of kids to have now in this disasterous economy of Nigeria, price of baby products are not smiling in the market.

mdntiri:
___

I'm posting this from www.myjoyonline.com/africas-top-currencies-cedi-places-9th/?param=

Economy
Africa’s top currencies: cedi places 9th
Source: Charles Nixon Yeboah
28 September 2021 9:35pm




The Ghana cedi slipped one place to the 9th position out of 15th top African currencies.

According to Joy Business tracking of the performance of African currencies so far this year, the local currency has not fared badly at all.

In August, the cedi was ranked 8th among Africa’s top currencies with a depreciation of 1.30% to the US dollar. This was after it had appreciated against the American ‘greenback’ in the first six months of this year.

The Namibian dollar however dislodged the local currency from the 8th position after an improved performance against the American currency in September 2021.


But the cedi is expected to gain some value to the US dollar soon. This is because the first tranche ($750m) of the $1.5 billion Cocoa Syndication Loan will hit the account of the Bank of Ghana next week. It will help reduce the recent pressures on the local currency.

Governor of the Bank of Ghana, Dr. Ernest Addison said at the Monetary Policy Committee press conference that the Central Bank has been doing its best to stabilise the cedi.

“You will see that the Bank [BoG] has been fairly active in the forward market. We raised the bi-weekly intervention from $25 million every fortnight to $75 million, and we did that for I believe three consecutive weeks. This was because we thought that the market needed that particular support. And we did that without compromising our reserves and I believe that is the best way forward.”


On the continent, Zambian Kwacha maintained its lead as the best performing currency with an appreciation of 28% to the dollar.

It is followed by the Ugandan shilling and the Egyptian Pound. Both had appreciated by 3.1% and 0.14% in value respectively to the American currency.

Rankings of African 15 top currencies


COUNTRY CURRENCY YEAR-TO-DATE PERFORMANCE
Zambia Kwacha 28.3%
Uganda shilling 3.13
Egypt pound 0.14%%
Tanzania shilling -0.01%
Morocco dirham -1.06%
Kenya shilling -1.10%
Angola kwanza -1.70%
Namibia dollar -1.72%
Ghana cedi -1.78
South Africa rand -2.68


To know the strongest Africa currency, you can look at the performance of the currency (did it lose or gain value) against the dollar from Jan to Dec. You can do a say 3 or 5 year historical analysis of the various currencies' performance against the dollar to declare Africa's strongest currency. This's what myjoyonline has done for the year of 2020/2021

So if the Japanese yen performed better than the euro in the last 12 months, those it make it a stronger currency than the euro. Is as if you like this Zambia self, you can migrate there and earn some kwacha

mdntiri:
Forget about the website. I've seen several websites make such infantile/simplistic rankings. Take this example. Ghana redenominated her currency and removed 4 zeros, so 10,000 cedi became 1 cedi. The value of the currency is the same. Supposing we removed only 3 zeros, and nothing stopped us from doing that, and 10,000 became 10 cedi.

Currently the cedi exchanges at 1 dollar to about 6 cedi. Now let's say Ghana removed 3 zeros and the cedi became 1dollar to 60 cedi, do you know the cedi won't rank at number 3? It's go further down the ranking. Because 60 is "bigger" than 6 cedi?

But is 6 cedi not the same as 60 cedi? Same as 600 cedi? Same as 60,000 cedi or 6000 cedi? Because the value is the same?

That's what the rankings are doing. They see Ghana's 6 cedi, they say it's "better" than Botswana's 11 pula etc etc. What's the true value of the currency?

I totally don't agree with you. You are trying to prove that naira is more valuable than the cedis which is not true. What ever Ghana government did, it has favored them positively. Our weak naira suppose to favor export but the reverse is the case. We import all we consume in this country

France is a very evil country. They only know how to exploit African countries. France would have the same economy as Ghana if not for their kleptomanaic nature

It is finished. my lecturer who is a professor was telling me that very soon, alot of professors in Nigeria would resign and travel abroad to become Uber drivers, barbers, sales reps, cleaners, gardeners etc and I thought he was lieing.

Nigerians open your eyes ooooo, this country has been sold out. An average worker in UK now makes more money than a professor or medical consultant in Nigeria.

North is borrowing billions of dollars just to unite this country for a thousand years.

mdntiri:
[quote author=YoungRay007

Op you're wrong with this ranking. The list of the strong African currency rankings are wrong, they're too simplistic, they only look at face value of the currencies, not their RATE OF DEPRECIATION/APPRECIATION AGAINST THE DOLLAR YEAR-ON-YEAR

So Ghana's "small" 6 cedi giving you a dollar is not better than Nigeria's 410 naira giving you a dollar. 410 naira is the same as 6 cedi. Ghana's 6 cedi is actually 60,000 old cedi

Am not wrong, this list was compiled from an American website BUSINESS INSIDERS.

1.7 $

Top ten strongest currencies in Africa at the moment

Tunisian dinar: This is currently the strongest and most valuable currency in Africa. As at the time of publication, checks by BI Africa shows that TND1000 converts to $353.05.

Libyan dinar: Libya currently has the second strongest and most valuable currency on the continent, second only to Tunisia. When converted to the dollar, LYD1000 will give you $219.20.

Ghanaian cedi: This West African country has the third strongest and most valuable currency in Africa. GHS1000 will give you $164.74.

Moroccan dirham: Morocco has the fourth strongest currency in Africa, for now. Checks by BI Africa showed that when converted to the dollar, DH1000 becomes $110.46.

Botswanan pula: Botswana in Southern Africa has the fifth strongest currency on the continent. BWP1000 converts to $88.22. However, this may have changed slightly by the time you convert yours due to exchange rate volatility.

Seychellois rupee: This tiny island country which is located in the Somali Sea, has one of the strongest currencies in Africa. SCR1000 converted to $78.35 as at the time of filing this report.

Namibian dollar: When we converted NAD1000 to the dollar, we got $67.16.

Eritrean nakfa: In Eritrea which is located in the Horn of Africa, they use a currency called the Eritrean nakfa. The currency has the eighth strongest exchange rate against the dollar. As at the time of comparison, ERN1000 converted to $66.66.

South African rand: South Africa is one of the continent's strongest economies. It also has one of the strongest currencies. When we converted ZAR1000 to the dollar, we got $66.63.

Swazi lilangeni: Although it is among the poorest countries on the continent, Eswatini (Swaziland) has one of the strongest currency. When converted to the dollar, SZL1000 gave us $66.62.

Our very own Naija, 1000 Naira is equal to..........

emmanuelbrown26:
This your matter tire man pikin.
Well, u have noted your mistake, naija is a very rough place.
Single guys out their, heed thee words of advice, marriage is not about I love u I love, love go disappear then the reality would be downed on u.
Marriage requires enough money
Modified: were u not the one that posted "getting married to a poor family" that u are a practicing medical doctor

You Don see am, some people like catching cruse

I can bet you, this guy will fail at barca. Without Messi, barca is nothing. I don't like Messi either. Goat CR7

E remain one and half year for bubu

Pussy ass nigars

Menopause hitting.