₦airaland Forum

Is this in Lagos, Warri, Escravos or Port Harcourt?

This matter is touching me to the marrow right now. Imagine! So, these our phone companies and Internet Service Providers are trying to convince, abi na ‘confuse’ me, that I use 1GB (one gigabyte) daily! Bia, when did I start hearing of ‘Gigabyte’ sef? I just did a quick google search and it says the first Gigabyte Hard-drive, IBM 3380 was manufactured in 2013. You see, Gigabyte used to be the stuff that ‘mainframe’ computers, as huge as a fridge was made of. But now, MTN says I used that much everyday!

Not only MTN. Which haven’t I tried in Nigeria? I’ve tried Visafone, Spectranet, Startech, Starcomms…all the works. Same result. Sometimes, some of them are unnecessarily slow, so you just want something that works; at any cost.

Then they start to hit you. We live in the knowledge age, and everyone of us will get smarter over time. Google is everyone’s friend, to ask questions and find out stuff. That means that we will protest every now and then. The emerging global economic terrain is one whereby technology creates seamless transparency which challenges businesses, their profitability, and of course, the wages of workers and jobs too. I am of the view that the greatest contribution of technology is to make life cheaper even if it takes jobs away. But life will become cheaper, quicker for societies who are aware and who speak up.

I buy 7.5GB of data from MTN for N8,000. Within a week, everything disappears. In my office, we buy 50GB of data from Spectranet for N17,500. In 10 days it disappears. In between using my own data on my MTN phone – which I also tether to my laptop, I sometimes rely on my wife’s internet subscription. Same story, different network. If I have to renew my MTN data (as I usually do), I spend at least N24,000 ($110 monthly). I hardly stream videos, mind you. If I renew for my office, I will spend N52,500 (about $250). Between myself and my wife, and our offices, we spend about N100,000 (over $450) on internet services alone, each month!

I think what is going on here is akin to what went on in the beginning of Nigeria’s mobile phone epiphany. In 2001/2, we would actually purchase a sim card for between N20,000 and N30,000 and under the flat N50 per minute tariff regime, some of us spent another N40,000 monthly just to talk to each other. Sometimes I think about the ‘stupid’ manner we (or I) have spent money in the past and shudder. Indeed it is a Nigerian thing. We just spend. I don’t think it is sustainable and this is not how to run a society but our leaders seem not to care about these things. The average Briton thinks about how best to spend his/her money, seeks bargains. Ditto an American. But the Nigerian just spends. He spends, knowing that that God loves him more that the Brit or Yankee, and would always bail him out before he hits the ground. God shows up actually, but the Nigerian helps himself too many times. If he is a civil servant, that is when he gets desperate. If he is a cashier in a private firm, he pilfers.

So, just like in 2001, I think we should pitch these phone companies together. In the first place, I sometimes feel they are rigging the game. Y’know, just like we drive to the fuel station and we see N87 per litre on the metre, but the damn attendant is selling to us at N120 per litre! How they do it I don’t know. But DPR just closed a few of them lately. Welcome to Nigeria; the most religious country on earth. If filling stations can rig metres, why not ISPs? In this instance there is no way of benchmarking or confirming anything. Everything is in the ‘clouds’. Oya, go and find it there na! I feel that these bytes thing is running faster than ever these days! Why?

In 2003 or so, Glo came on board and spoilt the market for MTN, which never refunded the excess charges it had ripped off Nigerians and transferred in Dollars to its South African investors. Ehmmm… Not that Glo was just using its ‘church mind’, but that was the ONLY way it could come back into reckoning having lost ground seriously due to a rift with government. In fact, a certain obnoxious policy whereby unused credit in one’s account disappeared after two weeks had to be ditched when it became apparent that subscribers were ditching Glo phones fast! Interconnectivity was a nightmare in those days and so, subscribers who enthusiastically put N15,000 call credit in their accounts saw most of the money disappearing after two weeks. They couldn’t believe their eyes.

Before writing this I called around to find out how this internet data thing works elsewhere. In the UK, for about 18 pounds (N6,000) a month, most homes have UNLIMITED data. In the US, same thing, maybe a little more expensive. My friends abroad should help me confirm how it works though. As I stated earlier, TECHNOLOGY, which we don’t produce, is only good for making life easier and cheaper. But apparently those who are in the first line of disseminating technology (which they don’t produce), in Nigeria, take delight in keeping Nigerians in the dark for as long as possible… and ‘hammering’ us!

UNLIMITED DATA ACCESS is apparently now the fad around the world, and I believe strongly that we can pay a lot less than we are paying for these things. Every of these big businesses in Nigeria tells us of all the infrastructure problems as if small businesses exist in a different planet and don’t also face the same challenges. Small time you will hear of ‘diesel’ and ‘generator’. Truth; they all see Nigeria as good for ripping off only. That is why MTN, Hilton, Shoprite and some other chains make their most money from Nigeria. It is Nigerians I pity. The tunnel vision is something else. So long as we have avenue to get some, we don’t ever think about the collective. But whether you are ‘blessed and highly favoured’ or something to that effect, remember that when you pay for these exorbitant services, you are basically a mugu. Money spent can never be regained. And what goes around surely comes around. When you get an avenue to rip off the system and ignore systemic malaises, you end up running from pillar to post in a dysfunctional society. They are not ‘mumus’ in developed countries for thinking the way they think and organising their societies in a SUSTAINABLE manner.

Now, biko nu, Dan’Allah, Ntori Olo’un, what do we do about this data rip-off? Which ISP will give us unlimited browsing for like N5K a month?

Tope Fasua, an economist and consultant, is CEO of Global Analytics Consulting.
http://blogs.premiumtimesng.com/?p=168553

Nigeria’s 2015 budget is contending with a new threat, as crude oil, country’s biggest revenue earner continued its slide to $40 per barrel, hitting longest weekly losing streak since 1986. A report by Bloomberg tagged Bloomberg Billionaires Index, released yesterday, showed that the crude price last witnessed this weekly fall in 1986. Nigeria’s budget, which is predicated on $53 per barrel benchmark, is threatened by the oil price, which fell to $40 per barrel. The budget was passed on the basis of production estimate of 2.2782 million barrels per day, and an exchange rate of N190 to the dollar.

This led to a deficit of N1.075 trillion, representing 1.12 per cent of the country’s Gross Domestic Product (GDP). Checks by New Telegraph showed that the 2015 budget has been recording $29.6166 million deficit daily since Thursday when crude oil price fell to $40 per barrel. The loss is $13 loss on each of the 2.2782 million barrels per day production from Nigeria appropriated in the 2015 budget.

Oil producers in Nigeria and PricewaterhouseCoopers (PwC), in two separate documents seen by New Telegraph at the weekend, said that the country’s economy is in for trouble, if the price fall remains at $40 per barrel. While the oil producers declared that the new price fall will diminish the country’s revenue by over $10 billion, PwC said in its report entitled, “Fit for $50 oil in Africa: Will the boom go bust?” that Nigeria and countries in West Africa that are highly dependent on oil exports would be faced with potential austerity measures and budget reviews.

“We estimate that if crude oil prices average $53 per barrel in 2015, compared to $77.5 per barrel in 2014, the Federal Government of Nigeria’s oil and gas revenue will decline by an equivalent of $10 billion this year, or a gutwrenching equivalent of 30 per cent,” the report by Oil Producers and Technical Session (OPTS), quoted its Chairman, Elizabeth Proust.
http://newtelegraphonline.com/2015-budget-faces-fresh-threat-as-oil-hits-29-year-low/

Very relevant thread. But seriously, what is the limit (if any) of personal (non-commercial) items like clothes/shoes for self and family, children shoes, perfume etc that one can bring into the country?. These customs guys at the airports sometimes do random stop and search e.g. if you have big, bulky or bulging bags or several bags. Is it about size or quantity? Even when you carry obviously personal items, they still want to exploit and extort you so brazenly.

Slacker:
I also applied to go an take my ccie exam in Brussels.Yet to get a response.. and time is running fast.. So annoying..

It appears to be the Belgium way. Some people have waited for like 8 weeks and no news on visa yet. Anyone with update?

“I’m not a messenger. I am a human being. Just being human by living my life,” this was the exact reply of Nigerian ‘Mother of nudity and controversy,’ Maheeda when confronted by DAILY POST Entertainment Editor, Ameh Comrade Godwin.

She recently triggered what could be termed as the biggest storm of controversy that rocked the Nigerian showbiz world with her nude pictures and videos, which exposed her hidden treasures.

For those who are not familiar with her, the question frequently asked, is: what the hell is the problem with this girl.

For this nude star, there’s nothing wrong; she enjoys her way of life and that settles it all.

Born Caroline Samuel, she does not give a dam over what anyone thinks about her.

This newspaper recently cornered her for an exclusive interview and she opened up on why Nigeria should legalize prostitution. She equally said there’s no hell fire as many would think.

Some persons are yet to understand Maheeda, who are you?

You can never completely understand God’s creation. But I am a full-package!!


You’ve not been active online like you used to, except postings on Instagram. What happened?


I’m as active as I can be for now… Busy with priorities such as education and family..


What are you up to lately?


I have been busy with self development.


To many, you are a sex symbol. Why is it so?


Ask them, it is not my thinking, it is theirs. But I believe in sex education and freedom though. It’s needed in Africa.


What really made you start putting those seductive videos online?


To get your attention and to show off my sexuality


What message are you trying to convey with your nude pictures and videos?


I am not a messenger. I am a human being. Just being human by living my life!!!


Do you make money from your videos?


Yes I do. Their use to be some kind of bet on my behalf. That’s how far I can tell you!!!


Some people have already condemned you to hell, because they see you as a prostitute, how would you react to this?


There is no hell!! Hell is in their mind… As for calling me names, I am not the first; someone might have called their mum or sisters that too at some stage, so not a big deal to me..


Have you ever been approached by persons willing to pay to have sex with you?


Yes. It is normal for some people desiring to have sex with me, I tease them a lot… But they can’t!


Some persons want prostitution legalized, what’s your take?


Legalizing prostitution is being done by some very developed countries. Are they stupid? Nah I don’t think so.. Is our country better than theirs? Well you answer that, if you ask me, legalizing it will make a great deference.


You once said you have sex every day, do you still do?


Yes!


You started out as a gospel singer, why did you dump that genre?


I didn’t start as a gospel singer.. Do your research well!!


How do your children, parents react when they see those video?


My people are fine with my choice of life, I am an adult…


Have you ever been sexually harassed by any man?


Harassment is normal in Nigeria, or from Africans, most of them are not being taught to respect women… Their parents give them reasons to misbehave. They say because a lady is naked, it is allowed to rape her or harass her. Bad teachings.

It is like saying because a new car is parked outside with the keys, you can steal it, it is the owners fault ..


We once heard you were dating Atiku Abubakar, what actually happened between the both of you?


Dating who? (laughter) Please give him my number ohh let’s start the dating.


Do you go to church?


No, I don’t go to church but I listen to preaching at home and I pray every day.


Do you think Nigeria should legalise gay marriage?


I don’t think for Nigeria. Nigeria think for herself


Would you support any of your children to take after you?


Will support my kids when they are 18 years of age in whatever they choose to do or be that will not hurt or kill somebody … I will not allow them to steal, as for my footstep, it is their choice … I am doing great by the way!!!

How do you overcome sexual urge whenever your husband is not around?


I masturbate




We heard of a crack in your marriage recently, how true is it?




God forbid! My marriage is growing stronger by the day! Love is growing stronger by the day. We are happy; very happy! Thanks to God!!







I do some yoga and masturbate or ask some help from my man for a great love-making.
http://dailypost.ng/2015/08/20/exclusive-interview-nigeria-should-legalize-prostitution-theres-no-hell-nude-queen-maheeda/

megainvest:
You're right! Seplat is right in the middle of my Radar! I have never stopped watching this stock. I even had to "hedge" my investment in Seplat due to the bear and am looking to accumulate it as much as possible at the slightest sign of recovery.

Be warned, forewarned and armed:
https://www.thecable.ng/seplat-petroleum-faces-another-year-falling-profit

sage2:
With this, I can assure you that Baba has tactically pave way for a northerner to emarge as the next customs boss. He has to slide this one in between to not let it look too obvious. Because the customs boss is likely the next appointment in line

You may be right oh!. I have been watching the pattern. Make a South Westerner the Chief of Defence Staff and then appoint Northerners as National Security Adviser and Chief of Army Staff. Appoint Kachikwu as GMD NNPC and then Northerner as Executive Vice Chairman of Nigeria Communications Commission (NCC). Northerners are the Accountant-General of the Federation (AGF) and Director-General Budget office (Aliyu Yahaya Gusau was just appointed today). I expect that a way would be found to “manage” the appointment of a Petroleum Minister (afterall GMD NNPC is already from the South), or just run the Ministry through an Adviser/The Presidency. I don’t need to wait for the full cabinet list to know where the Minister of the FCT (Abuja) and a few strategic ones will come from. It will be a massive change if a Southerner or minority Northerner gets it! Actually, before you insult me, I do not condemn any of these appointments at all because they are not a surprise to me at all! By the way, I am not a wailing wailer but a watching winner!!

21ctl:
am still waiting for abuja to return my passport to lagos... i sent them emails no response and vfs response is not helping matters ( be patient)

what can i do? go to abuja or wait and see if by friday the passport will be in lagos?

I think you better wait since they advised you that they will send it. Save yourself the added cost, inconvenience and hazards of road travel. Others in the house are still waiting for feedback.

21ctl:
i applied for belgium visa to go write my ccie exam, from june they held my passport until aug when i started sending mails.
i got a response that my application was denied, that i should go to VFS to collect it. i hope it does not take time to get to VFS too.
belgium embassy is the worst embassy so far, they dont have anything to offer and wondering why they keep denying people visa

Fully agree with you. My family is still waiting for feedback since June. Belgian Embassy is no go area. I am surprised they asked you to go to VFS. Some people went direct to the Embassy to withdraw their application after waiting in vains. Return or rejection doesnt waste time at all. They can even give the gate man to give you if you wish!

Ex-President Goodluck Jonathan at the weekend stormed Kenya’s Maasai Mara Games Reserve in two chartered planes.

One of the planes carried Kenya State security and the second was occupied by Jonathan, his wife Patience and two of their children.

He is at the reserve for a three-day tour to witness the wildebeest migration.

Jonathan was booked at the new Angama Mara Lodge at the Oloololo conservancy.

The ex-president was received by Narok Governor Samuel Tunai.

Tunai, who is also the Council of Governors tourism committee chairman, said more than 500,000 tourists from all over the world are expected to witness the spectacular crossing of wildebeest across the crocodile-infested Mara River.

Jonathan, who refused to speak with reporters on his arrival to the reserve, according to Kenya media, is the second dignitary to visit the reserve in less than a fortnight after the King of Swasiland, Mswati III. The king was booked in the same lodge six days ago.

The owner of the hotel, Nicky Fitzgerald, said this tourism peak season is different from the past as prominent personalities from across the world have been calling for bookings.

“We have received Mr Jonathan, King Mswati III, a Chinese prominent family and we are expecting other royalties,” said Ms Fitzgerald.

Ms Fitzgerald said United States (U.S.) President Barrack Obama’s visit last month was a boost for tourism in Kenya.

The trooping in of world leaders to Kenya is expected to boost the tourism sector, which is recovering from travel advisories.

Britain has withdrawn travel advisories against Kenya and America is expected to follow suit. “Starting of direct flights between Kenya and the U.S. as Obama promised would really promote trade and tourism,” said Ms Fitzgerald.
http://thenationonlineng.net/jonathan-wife-storm-kenya-games-reserves/

A colleague invited her sister in-law to the Netherlands through the French Embassy. After 17 working days, her visa has been issued. Dont know why that of the Belgian Embassy is still severely and inexplicably delayed. Anyone made progress on this lately?

Virtue11:
None Yet. Still waiting

You are not alone! But this is simply unacceptable and unbelievable. Applicants from the Southern States who use French Embassy apparently have less hassles.

Virtue11:
@zik4ever,
I saw that you have been very active on this topic and have certainly kept it alive. Do you personally have a pending visa application with Belgium Embassy or this is just out of concern for your friend who has already withdrawn his application according to the prior information you have given on this topic so far?

I sponsored a Belgium family visit visa for my mother with supporting documents from Belgium where I currently live. She submitted her application through VFS office in Lagos since 23/06/2015 and up till now there has been no decision taken.

I contacted the Embassy of Belgium in Abuja by email this morning and I got a reply after couple of hours with the information you gave above except for the last sentence.

Perhaps this is a general delay for all the applications through the Belgium Embassy this period of time. I am hoping there will be a decision this week.

Thanks

How far? Have you gotten any response yet?

See change in Adamawa 2015!

A daughter of Vice President Atiku Abubakar has been nominated as commissioner in Adamawa State.

Fatima Atiku Abubakar was listed as one of 22 commissioner nominees sent by Governor Bindow Jibirilla on Thursday to the state House of Assembly for screening.

Two associates of the former vice president were also nominated, a pointer to the improved relations between the governor and Atiku, our correspondent says.

The two leaders belonged to different political camps in the past.

The two associates of the former vice president are Ibrahim Mijinyawa, a former gubernatorial aspirant of the All Progressives Congress, and Umar Daware.

Also, a former director of press and public affairs to former Governor Murtala Nyako, Ahmed Sajoh, was also named a commissioner nominee.

The list has two former commissioners of the Nyako administration, namely, Lilian Kayode, and Mohammad Mustapha.

Altogether, four women made the list. They are Shanti Victoria Shashi, Kaletapwa Farauta, Fatima Atiku Abubakar and Lilian Nabe Kayode.

The State House of Assembly complex was filled as early as 9:00am Thursday, as political associates, friends and well wishes of the nominees besieged the premises.
http://www.premiumtimesng.com/news/top-news/187919-atikus-daughter-nyakos-aide-named-commissioners.html

A civil rights organisation, International Society for Civil Liberties and the Rule of Law, Intersociety, has insisted that it was wrong for President Muhammadu Buhari to have recalled a retired Director of the Department of State Service, DSS, Mr. Lawal Daura to head the organisation. Intersociety in a statement, Wednesday, by its Chairman, Mr. Emeka Umeagbalasi, said: “On August 3, 2015, we condemned the blundered presidential appointment of retired Senior Agent (director) Daura of Daura-Katsina State origin as the “acting” Director General of DSS. “We also called on the appointing authority, Buhari and his ruling party-All Progressives Congress, APC, to present publicly, relevant constitutional or statutory provisions, which empower the President to appoint a retired director of DSS as Director General of the same DSS that he served and retired from. “When the defense of the indefensible failed to hold water, its prompters and promoters shamefully resorted to advising those condemning and opposing the constitutionally prodigal appointment “to go to court. “It is a forbidden culture in the armed forces of Nigeria; likewise elsewhere for out-of-service or retired officers to function officially as in-service/out-service or serving officers. They can only function as “consultants. ”The rare exception is where there is a successful military coup. Members of the Nigerian Armed Forces, including the DSS, are generally governed by the public service rules of the federation of Nigeria, with respect to recruitment, transfer or posting, promotion, demotion and retirement. “By the express provisions of the 1999 Constitution, Daura’s appointment as “acting Director General of DSS” is constitutionally prodigal. The 1999 Constitution has since his appointment, been shading tears, following usurpation of her spirit and letters by President Buhari and the prodigal imposition of a wrongful citizen on her envious position of the DGship of the DSS.” “From Alhaji Daura’s indisputable profile above, he served and retired as “a director” of the DSS in August 2013 having attained mandatory retirement age of 60 years, and having been born on August 3, 1953. Therefore, bringing him back from statutory retirement and making him “acting Director General” of DSS, is coupist and unconstitutional. - See more at: http://www.vanguardngr.com/2015/08/its-unconstitutional-to-appoint-retiree-of-dss-dg-group/#sthash.jrhoue7Y.dpuf

sheymoni:
Op that's the price everywhere, I did mine same price at their Ikeja office but I got it same day. The advantage of paying that extra 10,000 is that it will be ready that same day or within a week compare to those who do it online who will have to wait for 8 - 12 weeks before they get it.
Whichever way we look at it, it is still corruption

Really? You mean it could take up to 8-12 weeks? These people need to be told to either sit up or be shipped out of the service. What are they being paid for?

"Loyalty" has always been a dilemma for DSS -the delicate balance between loyalty to who appointed the boss/nation. I recall how several people lambasted the DSS under its former DG. Of course, I didnt support some of the actions of the DSS then, but I also knew that it would not be any different. Its a matter of changing "loyalty" to the new DG/C-in-C. Thats what the DSS have done (not that I support this). I was never swayed by those who expected to see a "new", "changed" and "professional" DSS under a new leadership. DSS will wax more powerful under its new DG and the current President -it was like that powerful when it was NSO during Buhari's tenure as military ruler back in the days. What do we do?

The Ekiti State Governor, Mr. Ayodele Fayose, has asked President Muhammadu Buhari to start his anti-corruption fight by probing those that sponsored his election to reveal their sources of income.

Fayose said, “Some of those who sponsored the President’s election have not done any other jobs apart from holding public offices. Yet, they provided private jets and funds with which the President campaigned across the length and breadth of Nigeria. He should let Nigerians know where they got money to buy private jets and the several billions of naira spent on his election.

“No one sits with corruption to fight corruption because as it is today, President Buhari is sitting among corrupt people and he must first extricate himself from the comity of corruption”.

Fayose, who spoke through his Special Assistant on Public Communications and New Media, Lere Olayinka, on Wednesday took a swipe at the Federal Government anti-corruption drive, describing it as mere noise-making, witch-hunt and diversionary tactic to hoodwink the public into overlooking the seeming failure of the government to deliver on its electoral promises.

The governor said, “If President Mohammadu Buhari knows exactly where the stolen funds are kept and who looted the funds, he does not need all these public announcements. Rather, he should make public names of the looters and bring back the purported stolen funds, location of which he has identified. It is when he is able to bring back the money that he should make announcements of recovered funds.

“You don’t announce a process to the public; rather, you announce the results because that is what is of interest to the people. It is like you are announcing that you know where armed robbers reside, won’t they change their location?

“What the All Progressives Congress spin-doctors and their collaborators in the Presidency are doing is simple. It is such that when there is nothing to tell the people as per the rising Boko Haram attacks, dollar and other foreign currencies exchange rates, petrol pump price and other seeming failed promises of the APC Federal Government, they will accuse former President Goodluck Jonathan and his men of corruption, insult Peoples Democratic Party and make noise about fighting corruption.”

He said President Buhari and his men should know that Nigeria of today is different from that of 1983 and that unlike 1983, nothing could prevent them from asking questions.

“Mr. President and his men should know that these planned efforts to brand PDP as a party of corrupt people and suppress the giant strides of the Jonathan administration won’t work because Nigerians know that APC is peopled with more corrupt people and the President must treat the issue of corruption without looking at political parties.”
http://www.punchng.com/news/corruption-probe-your-election-sponsors-first-fayose-tells-buhari/

Hi,
Has anyone heard about alleged kidnapping of expatriates at Rainbow area or any part of Port Harcourt today?

presiade:
Anyone willing to exchange/ swap some Euro for some naira here?

What is the exchange rate of the Euro to Naira?

Actually this man is competent in terms of his CV and I whole heartedly congratulate him. I am not a "wailing wailer" but please don’t tell me that one zone alone has competent people. I don’t want any mediocre appointed to any position in the name of zoning but every zone has competent people in one area or the other. Spread offices and appointments equitably but ensure you pick a competent man/woman for each position. I congratulate the new NNPC GMD too. All I am saying is nobody is a child so the argument that we are strictly appointing competent people but by some coincidence all of them for example come from my State is a big fallacy. And why do we even like denying or pretending, if there is no balancing or zoning, I am very sure there is a very competent Hausa-Fulani man that could have been running mate to President Buhari or any other Presidential/Governorship candidate. I desire like you that one day we will get to a position where it doesn’t "really" matter where the appointee comes from but for now it matters.

Saao:
then what is the meaning of change?

Sorry bro. Change means different things to different people. For some, change means we want genuine newness and freshness in governance. We want anti-corruption, security and economic development. For some, change means I changed political party and won election to continue what I was doing before under the guise that I have changed! For some, change means my brother or my tribesman or someone from my religion/region has defeated someone from "their own" religion/region. For some, change means I know I am corrupt but since I publicly identified with "change" I will be seen as a saint and won’t be prosecuted. For some, change means, we have gotten rid of our common enemy so let’s share the booty/spoils etc so it depends on the change an individual had in mind when he or she voted or contributed by posting on Nairaland without actually voting during the election!. While some are saying we haven’t seen any change at all, some will say I have seen massive changes –it’s just different stroke for different folks.

I love Nigeria my country. This is the same DSS that was accused of being pro-PDP/GEJ just few weeks back and some people even said the agency should be scrapped. Some of us have always said it that DSS will always serve whoever is the oga on top. It may not be always agreeable or palatable but it has always been and will likely remain so. To the best of my knowledge, no single officer of DSS has been sacked since the new DG was appointed so it is the same DSS and the same crop of officers and men that worked under GEJ that is still in the service doing all these. If you like appoint an insider or outsider, he will deliver the mandate of the boss -not that I necessarily agree it should be so oh! Before you come and insult me. The DSS has a wide latitude of powers and has the matchless advantage of secrecy in much of its operations hence those who know, know how to use them. I don’t see that changing for a long time. So whether you are APC or PDP, just admit that it serves you when it is your turn or your time. Please don’t come and form denial about this jor!

Royal155:
ur mate dey sell 209, u dey ask for 230

Ha ha. It may even go lower as it is!

Cchuks27:
I have actually not commented on all appointments because I am waiting for the Ministers list to be released. Only then will I know the true agenda of Buhari.

He is the President and he is entitled to whatever decision he deems fit to move the country forward to the best of his knowledge.

Ha ha. Hope you wont wait in vain because for the ministerial list, scrutinise not just the numbers but also the portfolio. Only one post will tell it all -watch who becomes the FCT Minister then come and comment. Not expecting any surprises at all sir.

Waoh this CBN Governor sure knows what he's doing or what do you think? Is it about APC and PDP too? Ha ha.

Commercial banks inNigeria sitting on as much as one billion dollars in their vaults which they cannot use should expect no help from the Central Bank, Governor Godwin Emefiele told Business-Day at the weekend.

For some of the banks, panic has already set in, but the apex bank says the commercial banks got into the predicament by choice and they would have to dig themselves out of the pit without help.

“Nigerian banks today are awash in dollar cash they cannot bring to the Central Bank because if the banks bring it to us, what is the Central Bank going to do with cash?” the governor asked. “If we were dealing with cash in naira, the banks are allowed to bring excess naira cash to the Central Bank and when they do this, we credit their account.

“ We cannot do the same for foreign currencies. It is what we call non-earning asset in banking and it is up to the banks to manage it.

“ The banks sent out circulars to their customers at the end of last week, saying they will no longer accept foreign currency deposits in cash and this movehas t he full support of the Central Bank.

Speaking in a wide ranging interview, his first sit-down and elaborate chat with a Nigerian newspaper, the governor said, “what we have started to see is that as a result of the speculative activities, as a result of round tripping activities, people haresorted to just the business of converting their naira into dollar, into what we call currency substitution.

“ Today, there is a large volume of foreign currency sitting in the vaults of the banks and the banks cannot handle it because it useless to them.”
The apex bank governor blamed the situation on Nigerians who have abandoned their own national currency, in pursuit of the dollar and the pound sterling.

He said, “I wonder why people will not have faith in their country, why people will want to take advantage of the situation that we are in as a nation to begin to speculatively attack the currency.

“If you and I and all other Nigerians prefer to store our values in the dollar or pounds, 170 million people store up their values in dollars, pound, Yuan, the Chinese currency, there will be chaos and it means we do not have faith in our local tender, it means you will have spiraling exchange rate, it means you will not have any reserves.”

Emefiele acknowledged that the situation the banks face today arose from the liberty given to bank customers to maintain domiciliary accounts in foreign exchange but he said this has been abused massively.

“I am not so sure how the policy of domiciliary accounts came about in Nigeria”, he said. “But I do know that this was meant to target exporters. For example if you are an exporter and you wanted to receive the proceeds of your export, this was an added incentive to encourage exporters to repatriate their foreign exchange proceeds.

“So that was how the issue of domiciliary account came into being. But we have seen every and anybody go to their banks, as they open a naira
account they also open a domiciliary account.

“What is the purpose? It is for them to convert naira into dollar cash and begin to store them or to collect illicit money and they think the best way to hide it is to open domiciliary account and they go on to deposit cash into their accounts.”
http://businessdayonline.com/2015/08/banks-sit-on-over-1bn-they-cant-use/#.Vb82szNw1it

Commercial banks inNigeria sitting on as much as one billion dollars in their vaults which they cannot use should expect no help from the Central Bank, Governor Godwin Emefiele told Business-Day at the weekend.

For some of the banks, panic has already set in, but the apex bank says the commercial banks got into the predicament by choice and they would have to dig themselves out of the pit without help.

“Nigerian banks today are awash in dollar cash they cannot bring to the Central Bank because if the banks bring it to us, what is the Central Bank going to do with cash?” the governor asked. “If we were dealing with cash in naira, the banks are allowed to bring excess naira cash to the Central Bank and when they do this, we credit their account.

“ We cannot do the same for foreign currencies. It is what we call non-earning asset in banking and it is up to the banks to manage it.

“ The banks sent out circulars to their customers at the end of last week, saying they will no longer accept foreign currency deposits in cash and this movehas t he full support of the Central Bank.

Speaking in a wide ranging interview, his first sit-down and elaborate chat with a Nigerian newspaper, the governor said, “what we have started to see is that as a result of the speculative activities, as a result of round tripping activities, people haresorted to just the business of converting their naira into dollar, into what we call currency substitution.

“ Today, there is a large volume of foreign currency sitting in the vaults of the banks and the banks cannot handle it because it useless to them.”
The apex bank governor blamed the situation on Nigerians who have abandoned their own national currency, in pursuit of the dollar and the pound sterling.

He said, “I wonder why people will not have faith in their country, why people will want to take advantage of the situation that we are in as a nation to begin to speculatively attack the currency.

“If you and I and all other Nigerians prefer to store our values in the dollar or pounds, 170 million people store up their values in dollars, pound, Yuan, the Chinese currency, there will be chaos and it means we do not have faith in our local tender, it means you will have spiraling exchange rate, it means you will not have any reserves.”

Emefiele acknowledged that the situation the banks face today arose from the liberty given to bank customers to maintain domiciliary accounts in foreign exchange but he said this has been abused massively.

“I am not so sure how the policy of domiciliary accounts came about in Nigeria”, he said. “But I do know that this was meant to target exporters. For example if you are an exporter and you wanted to receive the proceeds of your export, this was an added incentive to encourage exporters to repatriate their foreign exchange proceeds.

“So that was how the issue of domiciliary account came into being. But we have seen every and anybody go to their banks, as they open a naira
account they also open a domiciliary account.

“What is the purpose? It is for them to convert naira into dollar cash and begin to store them or to collect illicit money and they think the best way to hide it is to open domiciliary account and they go on to deposit cash into their accounts.”
http://businessdayonline.com/2015/08/banks-sit-on-over-1bn-they-cant-use/#.Vb82szNw1it

Commercial banks inNigeria sitting on as much as one billion dollars in their vaults which they cannot use should expect no help from the Central Bank, Governor Godwin Emefiele told Business-Day at the weekend.

For some of the banks, panic has already set in, but the apex bank says the commercial banks got into the predicament by choice and they would have to dig themselves out of the pit without help.

“Nigerian banks today are awash in dollar cash they cannot bring to the Central Bank because if the banks bring it to us, what is the Central Bank going to do with cash?” the governor asked. “If we were dealing with cash in naira, the banks are allowed to bring excess naira cash to the Central Bank and when they do this, we credit their account.

“ We cannot do the same for foreign currencies. It is what we call non-earning asset in banking and it is up to the banks to manage it.

“ The banks sent out circulars to their customers at the end of last week, saying they will no longer accept foreign currency deposits in cash and this movehas t he full support of the Central Bank.

Speaking in a wide ranging interview, his first sit-down and elaborate chat with a Nigerian newspaper, the governor said, “what we have started to see is that as a result of the speculative activities, as a result of round tripping activities, people haresorted to just the business of converting their naira into dollar, into what we call currency substitution.

“ Today, there is a large volume of foreign currency sitting in the vaults of the banks and the banks cannot handle it because it useless to them.”
The apex bank governor blamed the situation on Nigerians who have abandoned their own national currency, in pursuit of the dollar and the pound sterling.

He said, “I wonder why people will not have faith in their country, why people will want to take advantage of the situation that we are in as a nation to begin to speculatively attack the currency.

“If you and I and all other Nigerians prefer to store our values in the dollar or pounds, 170 million people store up their values in dollars, pound, Yuan, the Chinese currency, there will be chaos and it means we do not have faith in our local tender, it means you will have spiraling exchange rate, it means you will not have any reserves.”

Emefiele acknowledged that the situation the banks face today arose from the liberty given to bank customers to maintain domiciliary accounts in foreign exchange but he said this has been abused massively.

“I am not so sure how the policy of domiciliary accounts came about in Nigeria”, he said. “But I do know that this was meant to target exporters. For example if you are an exporter and you wanted to receive the proceeds of your export, this was an added incentive to encourage exporters to repatriate their foreign exchange proceeds.

“So that was how the issue of domiciliary account came into being. But we have seen every and anybody go to their banks, as they open a naira
account they also open a domiciliary account.

“What is the purpose? It is for them to convert naira into dollar cash and begin to store them or to collect illicit money and they think the best way to hide it is to open domiciliary account and they go on to deposit cash into their accounts.”
http://businessdayonline.com/2015/08/banks-sit-on-over-1bn-they-cant-use/#.Vb82szNw1it