Gov. Akinwunmi Ambode of Lagos State on Monday urged doctors to support the government in curbing the activities of quack medical personnel to save lives and revive the healthcare system. Ambode made the plea at the Induction Ceremony for the 11th Set of Medical Doctors and the Unveiling of the Roll of Honour, Lagos State University College of Medicine (LASUCOM) in Lagos.

The governor, who was represented by his Deputy, Dr Idiat Adebule, said the quacks had done more than enough damage to the people and the nation’s healthcare system. “Our administration places high premium on healthcare and wellness of our people and this is reflective in our decision to develop a Medical Park of global standard and fight quackery.

“We cannot achieve this without the support of our medical personnel, ‘’ the News Agency of Nigeria (NAN) quotes him as saying. Ambode advised the new doctors to strictly adhere to the provisions of the Hippocratic Oath and use the knowledge and skills acquired to save lives and offer succour to the distressed. Also speaking, Retired Brig.-Gen.

Buba Marwa, former Military Administrator of Lagos State, said he approved the establishment of the college to help address the problem of shortage of indigenous doctors. “I am happy that the vision behind the establishment of the college is being kept alive, ‘’ he said.

Prof. Babatunde Salako, Medical Elder for the Induction ceremony, delivered the keynote address entitled ‘Making a Comfortable Living while Helping Humanity in the Face of Merger Economy’ Salako advised the new doctors to ensure proper planning and skills.

“As you join the rest of us in the medical field, I urge you to uphold the ethics of the profession, concern for health and safety, maintain humility, correct attitude and be good time managers. “By doing these, you are sacrificing and contributing to the Nigerian project, ‘’ he said.

The Vice-Chancellor, Lagos State University, Prof. Olanrewaju Fagbohun, said pledged that the college would continue to promote excellence and justify the confidence reposed on the management of the institution. ‘“We are inducting well rounded graduates today and this is a demonstration of the clear vision mingled with action to catalyse and shape the world.

“I urge the new doctors to be committed, make the difference and mark in their chosen careers, ‘’ he said. The Provost, LASUCOM, Prof. Babatunde Solagberu, urged the state government to massively fund and equip the college to handle not just community health and primary health but global health as well.

“Our future development is to have faculty of Pharmacy and Allied Health Sciences in 2018, as well as Global Health and Faculty of Surgical Sciences. “To cater for Lagos, being a hub for commerce, tourism and entertainment.

“This will improve our ability to render best practices on our mandate for teaching, research and community service,’’ NAN quotes him as saying. Solagberu said that the college produced an average of 70 doctors per session and appealed that the state government should employ at least 50 of them.

He urged the new doctors to imbibe effective planning, execution, monitoring and evaluation of activities in the medical practice to excel. NAN reports that 54 doctors were inducted with Dr Bello Oluwadamilola emerging as the overall best student.

Also Alhaji Lateef Jakande, First Civilian Governor of Lagos State, Asiwaju Bola Tinubu, Brig.-Gen. Buba Marwa, Mr Babatunde Fashola, Gov. Akinwunmi Ambode and others were the distinguished honourees of the college’s Roll of Honour at the event.





http://jahelastic..com.ng/2016/12/ambode-calls-for-support-to-curb.html?m=0

AHEAD of 2018 Presidential election, political intrigues and realignment are beginning to shape the political scene, with moves by politicians to form a mega party. Vanguard gathered weekend that barring any last minute change, politicians and conveners of the new political party drawn from the Peoples Democratic Party, PDP and the All Progressives Congress, APC, were already fine tuning the name for the new party.

According to a source, the group which would be drawn from all the six geo- political zones of the country would converge on Abuja, the nation’s capital, Monday, December 19th, 2016 to conclude on a name for the new party.

It was however gathered that the members have already come up with a name known as the Action Democratic Party, ADP, just as the source said that if members agree on the name and structure, all the documents would then be forwarded to the Independent National Electoral Commission, INEC to commence the process of full registration.

Meanwhile, Senators from the Peoples Democratic Party, PDP and the APC, have not taken any position as they have remained aloof against the backdrop that anyone spoken to on the matter, were not ready to come up with any position.

The source said, “The name of the new party is Action Democratic Party, ADP, we will meet on 19th December in Abuja to look at the structure and send to INEC the name. At the meeting, we will determine who would be the pro tem Chairman.

Everyone will be invited, those expected are from the six geo- political zones of the country as well as the Senatorial districts. “Our proposed party will come out from the ashes of PDP and APC.”






http://jahelastic..com.ng/2016/12/mega-party-members-may-settle-for-adp.html?m=0

But wait oh my people, I always wonder whenever "Nigerian Government says" participate in MMM at your own risk.

Do you people know this is laughable?

> In Nigeria, I sleep at my own risk,
> I wake up at my own risk,
> I go out at my own risk,
> I come in at my own risk,
> I put my MONEY in the bank at my own risk,
> Even in banks, CARS are parked at OWNERS risk.
> I do everything at my own risk.

So there's nothing special about doing MMM at my own risk......

Good Evening & Happy Sunday!

Honorable authorities,

So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that you would be so kind to answer them.

1. What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy?
2. You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website.

3. You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What''s wrong with that?

4. You have repeatedly stated that "it should be investigated!.. researched!.." It means you know nothing about this System yet; you even haven’t understood how it works. Isn’t it completely irresponsible of you to make all these allegations and play with the lives of millions of ordinary people?

5. And finally. If you know what is right for people, why is the life so bad in the country?



Sincerely yours,

Sergey Mavrodi

P.S. As for your statement that "everything will collapse soon". The system has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people. In Nigeria the population is approximately 195 million. Can you calculate? Will it be “soon"? :-))






http://jahelastic..com.ng/2016/12/pen-letter-from-sergey-mavrodi-to.html?m=0

sipsip:


I know right? I get that now. But i have been sending them requests upon requests, they just keep posting me. For more than a month now? Common...

Well, with ma little experience with MMM, you only write to support just once & wait for their response or else I'd you keep disturbing them by writing every day, your queue will start all over again.

uobimba:
Does the founder of mmm or the mmm network itself have any connection with Illuminati?

Well, no one know, but it may be possible. Even Banks all over the world are in it, militaries are in it, even politicians are in it!

The Chancellor of Oduduwa University, Ipetumodu Ile-Ife, Osun State, Chief Ramon Adedoyin has expressed the urgent need for, ”men of wisdom, foresight and of sterling character to save Nigeria from corruption in high places, avarice, abject and dehumanizing poverty, snobbish and tainted estimation of ostentatious life style, in a pauperized society.”

Adedoyin said this in his remark during the closing of the 4th Convocation ceremonies of the university where 293 first degrees students graduated, while 29 had First Class, just as the Ooni of Ife, Oba Enitan Ogunwusi, spoke on the secret to achieving greatness.

He called for men of goodwill and conscious foresight who align their thoughts and resources to give the despondent masses a joyous daybreak to the apparent, long night of agony, anguish, travails and pangs of poverty, stressing: “We need to give them a beacon light of hope and good governance which will assuage hunger, anger and depression”.


The Chancellor added that the urgent need to save our people from the torture of hunger became imperative because of the ravage of diseases, the trauma of insecurity and the burden of despair precipitated by unemployment and economic mismanagement.

“It is our collective responsibility to bail, Nigeria out of her precarious predicaments”, he said. The chancellor also harped on the need for education,saying that,” Education is the bedrock of every society and an indispensable tool for the upliftment of humanity, advancement in every society,education is no more a mere luxury but a necessity for the transformation of every society in all ramifications.”

The Ooni of Ife, Oba Ogunwusi, who also graced the occasion expressed appreciation towards the effort of Adedoyin for establishing the university even as he admonished the students to think of the next step to take in life. The monarch also said that the journey to greatness had begun and encouraged them to be focused, steadfast and enduring so as to succeed in life.

The Vice Chancellor, Prof. Nwoke Chibuzo, in his speech, announced that the institution had been granted full license by NUC to run post-graduate courses. He hinted that the development of College of Environmental Design and Management and the College of Engineering and Technology were in progress, stressing: “Currently, the students population is in the neighbourhood of 4000. “







http://jahelastic..com.ng/2016/12/ooni-identifies-secret-to-greatness.html?m=0

The Lagos State Internal Revenue Service says all taxpayers that have yet to fulfil their obligation have between December 1 and 16, 2016, to remit overdue taxes and levies to avoid prosecution.

The Executive Chairman of LIRS, Mr. Ayodele Subair, on Wednesday stated that the agency had, in the last few months, embarked on massive advocacy and enlightenment programmes, educating Lagos taxpayers on the laws bordering on tax administration and the benefits of paying taxes as and when due.

He said, “In spite of the significant decline in the allocation from the federation account, the Lagos State Government is still embarking on massive infrastructural development and renewal. These projects cannot be achieved if taxpayers refuse to discharge their civic responsibility to the state.

“Taxpayers are hereby advised to clear all outstanding payments on or before December 16, 2016, failing which the state government will commence criminal prosecution of offenders in line with relevant provisions of the Personal Income Tax Act, 2004 (As amended).”

The LIRS boss explained that the taxes and levies expected to be remitted to the government within the grace period comprised the Tax Audit Liability of back years, the Personal Income Tax (PAYE, Direct Assessment, Self-Assessment), Withholding Tax, Hotel Occupancy and Restaurants Consumption Tax and Land Use Charge and Ground Rent.

“LIRS has put all the necessary machineries in place to ensure the enforcement of the tax law with effect from December 17, 2016, when the grace period lapses. We advise all taxpayers to comply because the full weight of the law will be brought to bear on taxable persons or corporations that fail to remit their taxes and levies,” Subair added.


http://jahelastic..com.ng/2016/12/govt-gives-lagosians-till-dec-16-to-pay.html?m=0

Obinoscopy:
Do you have any issue with the moderator or other member(s), or with a post, thread or spambot in this section? Let's have your complaints here. They will be attended to.

Remember to always supply the link(s) to the post(s) or thread(s) you are reporting.

Let’s also have your suggestions and enquiries here too, we will try to respond to them as soon as possible. Frontpage worthy threads should be recommended here as well.

Please lets stay on topic. All regular chats and discussions should be done on the Chat Thread or on any other specific thread of interest in the Forum Games Section. This thread is purely for complaints and suggestions, anyother thing will be considered off-topic.

Please note that the 'report' button still works, use it as well to report a specific post.

Let's keep this place sane and free of scammers & spammers so that it will remain what it is, a fun loving place !

Thanks

Pls why do I use to see "Thread closed" under some of my post?

Theoritical:
the impact MMM made on Nigerians for this past few months, Access bank haven't equate it since their existence...

My brother, not only access bank but Nigeria as a whole. All or politicians, leaders and others have really failed us even this bank people talking and saying shit about MMM, how have they helped us?

MMM is great, MMM leads & MMM rules!

A former Chairman of the Economic and Financial Crimes Commission, Mrs. Farida Waziri, has urged the Federal Government to ensure that all politicians undertake psychiatric test before occupying any office.

Waziri said this in Abuja on Tuesday while delivering a speech at the inauguration of the Nigerian Women Against Corruption project which was organised by the EFCC and the wife of the President, Aisha Buhari.

The former EFCC boss, who was in charge of the agency from 2008 to 2011, said some politicians had stolen so much that they could no longer quantify their wealth.

She said some politicians owned houses on every continent of the world because they did not know what to do with stolen funds.

Waziri said, “I sit down sometimes and wonder what corrupt Nigerians are thinking of. Somebody gets a big position and thinks he needs a big house in the United States and then jets out to buy a mansion. He comes back and then wants a house in Europe. He jets out to the UK to buy one and then thinks of the UAE, he jets out to Dubai and buys one and he is not satisfied.

“He then jets out to South Africa to buy one. I went to Pretoria and I was taken to a street which was vacated by De Boers, the white farmers who had left South Africa and I was shown houses owned by Nigerians. They looked like cathedrals to me.

“They looked like haunted houses and when these Nigerians travel to South Africa, they can’t stay there so they lodge in hotels. So, what is the aim? What goes on in their minds? And that is why I said that before the government employs anyone to positions of authority, let them be medically examined. They need psychiatric test.”

Waziri said there was a need for focus to be shifted to crime prevention and not just prosecution as it was difficult to recover stolen funds especially the ones stashed in notorious tax havens like the Cayman Islands, Seychelles and Bermuda.

She argued that stealing of public funds had turned many countries into banana republics and could plunge Nigeria into deeper crisis.

Also speaking, the acting Chairman of the EFCC, Mr. Ibrahim Magu, urged women to be actively involved in the fight against corruption as the United Nations had stated in a report that women were the most affected by corruption.

He said, “Permit me to remind this gathering of the eternal words of Napoleon Bonaparte, the famous French General, who said, ‘give me good mothers and I will give you a great nation.’

“There is no gainsaying that women, especially mothers, have a significant influence on the direction the society takes; every generation is raised and nurtured by women.”

In her remarks, the wife of the President urged Nigerian women to internalise the ‘Change Begins With Me’ campaign.

Mrs.Buhari said she and the Vice-President’s wife, Mrs. Dolapo Osinbajo, had not received any gifts since their husbands took office.

She said, “People have been trying to bring some gift items to me but I have not been collecting them. Right from when I was campaigning with the wife of the Vice-President for our husbands, we did not take a dime from anyone and we have continued like that till today.

“I have never collected any gift and I am not ready to do so even in the future.”



http://jahelastic..com.ng/2016/12/ex-efcc-chair-urges-psychiatric-test.html?m=0

Access Bank Nigeria Plc has warned its customers to avoid dealing with Mavrodi Mondial Movement, a Ponzi scheme, which has been declared illegal by the Central Bank of Nigeria and the Securities and Exchange Commission.

The bank in an emailed statement to its customers said it had come to its attention “that some customers are engaged in the Ponzi scheme called ‘MMM’”.

“Please be advised that this scheme is not in line with any applicable or known investment product and may ultimately lead to loss of funds in the long run,” the bank warned.

“We advise that customers avail themselves of genuine and approved investments and products in the Nigerian banking environment.”

Despite the warning by the Federal Government, thousands of Nigerians have continued to patronise the scheme with its website ranking as one of the five most visited in the country, ahead of Facebook.





http://jahelastic..com.ng/2016/12/mmm-will-lead-to-losses-access-bank.html?m=0

sipsip:
I am also facing same issue. For about a month now i have been creating tickets upon tickets. 'They are checking' is all i get. This is wrong. All i did was change my password oo. What do i do?

For you to have changed your password, MMM will look at it that something is fishing. That this maybe hackers trying to gain or get your mavro. You are safe & secure!

The Oyo State Government on Tuesday said 662 civil servants had been dismissed from the state public service for forging the West African Examination Council’s certificates.

The state government added that 2,021 fictitious names of workers and pensioners had been removed from its payroll.

The state Head of Service, Mr. Soji Eniade, made the disclosure while briefing the press on the decisions made at the State Executive Council meeting which was held on Monday.

Also at the briefing were the state Commissioner for Information, Culture and Tourism, Mr. Toye Arulogun, and the Permanent Secretary in the ministry, Dr. Bashir Olanrewaju.

Eniade said about 684 workers were not found at their duty posts during the last physical verification in the state.

He explained that the state government was restructuring the state public service by ascertaining the quality and quantity of the workforce.

Giving a breakdown of the number of ghostworkers in the state, Eniade said there were 1,432 fictitious pensioners’ names, 84 fictitious local governments’ pensioners and 505 fictitious workers in the state civil and public service.

The HoS said they were uncovered during the verification whereby the Bank Verification Number was used to determine the accurate size of the state workforce and pensioners.

He said, “The state government discovered that 662 personnel on its payroll were in possession of forged WAEC certificates which were discovered during the certificate verification handled by Messrs Captain Consulting.

Three hundred and five of the personnel were from the local government councils, 152 from various ministries, 149 from the Teaching Service Commission, 28 from parastatals and two from the state Universal Basic Education Board.

“There were 670 workers that were discovered to have submitted forged certificates, eight out of them re-submitted their WAEC certificates for re-verification while the remaining 662 had been summarily dismissed and the onus is now on them to prove that the WAEC certificates in their possession are original.”

Eniade further explained that the exercise was a continuous one as the consultant was expected to extend the verification to the higher institution’s certificates submitted by the state civil and public servants.

He urged workers with fake certificates to voluntarily resign as the government would come after them.
“The level of decadence in the system is embarrassing and this cannot continue. What the government is doing is called self-check. There is financial check, institutional check, quality check and so on. Any organisation or even individual that wants to progress must engage in self-check as standard practice.”




http://jahelastic..com.ng/2016/12/oyo-dismisses-662-workers-for.html?m=0

As young as I am, I think why Nigeria is not really developing is because we don't embrace new things and new development, and if at all some of us want to, we always happen to be the last people to put it to practice after so many year of development being active in so many countries.

By the time we now want to put it to practice, that development would have been out of series and would have become old things and when time now come to service or maintain such things in our country, the parts will now be difficult to get.

Part of a good example is "Tricycle" (called keke Maruwa or keke Nappeb). It has been in existence in Indian and some other countries before getting to Nigeria. When it got to Nigeria, we all started acting as if no transportation like it all over the world.

Another issue of development is technology. Technology have been in existence in other countries so many years ago, but started in Nigeria some years back and when this started in Nigeria, we now turn it to gate way to crime activities.

Crime activities like hacking other people's system and Data base to get information from them but the most common one it called "yahoo yahoo" and is of different type as they say.

Some do dating, where men will act like woman, and women like a man. Some use another persons credit card to buy goods online. All this are called cyber crime. This kind of act do affect and destroy company Economy. Is just like you trying to build house, you've bought sand, cement, granite, blocks, nails & some other building materials that will build your complete house.

After some days of serious savings and getting those materials, some people now come one night to steal out of those materials, please say the truth, how will you feel? Look at the set back you have given that person.

I have studied Nigerians, 60 to 70 % of us do misuse opportunities and we always have the mind set that the thing will soon get spoil or crash down.

I still don't know why we use to have that kind of thinking or mind set. Please let's assume that invention is your hand work, is it part of your plan for it to get spoil the following day or soonest? I think we need to change the way and manner on how we think and value things.

Even if the inventor of the thing design it just to work for a while and that thing has happen to be of help to some people even if it is just ten (10) people out of thousand of people, do you know how happy those ten (10) people will be and how relief they will be.

A very good example of such thing is a scheme called MMM (Community of people helping each other). Most Nigerians started saying is a scam, is evil, is bad, it's meant to rub people.

With the present situation of the country, do you know how this scheme have put smile on million of Nigerian's face, relief them of hunger, poverty, unemployment, some small small shops and businesses that have folded up coming back to life through this scheme?

I still always wonder why the first statement a Nigeria will alter when something new comes out is that; "it will soon spoil", "it's a bad thing", "it's a crime" and so on.......

Director of Corporate Communications, CBN, Mr. Isaac Okoroafor, says MMM is a Ponzi scheme. “At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise.

Hello sir, for your information, Nigerians doing MMM are not keeping their money with any body, we are sending to each & other on the platform of MMM to help ourselves, no central account involve so why should they save money with you?

He continued by saying; "If you need to deposit money in any form, go to any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks,”.

When you said we should buy fixed income instruments or invest in stock, with how much interest at the end of the month?

Okoroafor said the CBN could not guarantee the unregistered institutions, insisting that when depositors lose money to them, the bank would not be able to help them.

For you information sir, we have not come to you to register & we can never come to you when there is any issues. Many issues have been coming up and have been happening which is normal in any organisation, but I tell you, it's only making us stronger and wiser.

Do you know this is part of why Nigeria is lacking behind other countries. We don't have believe in our hand work i.e what ever we build or design. We so much believe in imported things and this affect our economy the more.

Bible says; "My people perish because they lack knowledge". Please let's take some minute to look at that word of God ("My people perish because they lack knowledge".

What's even knowledge? Knowledge is when you have or develop the ability to know about something you don't know about at all or that you've once heard about it and want to know more .

For God to have said that word, that means its not a sin to do researches about anything.

We lack behind because we look at it that we don't have time to know about this or we need not to know about it because it's not our work or line.

Even if you don't have the time , please let's learn how to embrace good things at all time when it comes our way by those who have the time to do researches, let's observe and give things a try to see how it works and then let's have a maintenance culture so that things can last for us for our own enjoyment and comfort ability.

Another part to talk about is investment. Do you know that the rich people will continue to be rich why some poor people will for everly be poor?

It's not a prayer, it's not a cause but it's a simple logic. Do you know a wise man will take little out of his salary or income and invest in it. Thou it may not be convenient for you at that period but you are building future for yourself and your children. Investment is not a thing you will do today and reap tomorrow.

We have so many investment that can be done, it depend on the one you will like to do or have interest in. Religion doesn't mean we should be fool or not have plans for our future. Because I know some will start saying my religion does not permit me to do such. Please who preaches that to you, that your religion does not allow you to use your brain or be wise?

If it is a sin to trade or invest, do you know Jesus will not tell that kind of story of a boss who was traveling on a journey and call on his three (3) servants. He inform them that he's traveling and then gave ten (10) coins to one, five (5) coins to another and one (1) coin to the last servant that they should trade with it till he comes back.

The servant with ten coins traded with it and makes extra ten coins gain, the servant with five coins traded with his own too and made extra five coins but the last servant with one coin buried his own till their master came bak.

The three of them gave report of what they've done with their coins. The master was very happy with the first and second servant for trading well with the little he gave them. But the third servant complained a lot to the master that he want to reap from where he has not sow, that what did he think he can do with just one coin and so many excuses like that.

The master was very angry with him, asked him why he didn't give the coin to the servant with ten coins who would have traded well with it for him instead of keeping it in the ground till he comes back. The master caused him, collected that coin and handed it over to the one with ten coins.

This proverb of Jesus talks to you and I. How much is your salary, how small or how big is it? Do you know that no matter how much your salary his, you can still invest. I really mean invest not that saving in the bank. I don't say saving in the bank is a bad idea, but think of it first, what are you gaining from saving your money in the bank?

When you're saving some money in the bank, I mean your own money, bank will remove some percentage from it just because you are keeping your money with them and they will still trade with your money, make plenty percentage on it but at the end of the year, you will only be given 2% interest for a whole year.

Please, what exactly can you do or buy with 2%? Let's now assume you invested the money you put in the bank, do you know how much you would have made at the end of the year? So many secure online investment you can do instead of wasting your money on mobile data and start spending your entire time and life on social medias. You surf so many social medias at a time just to view pictures, watch videos, you like some, you comment on some and so on............

Do you know how much you are generating for the owners of those social medias by every click of yours on every thing you see? Why not spend your time online looking for good and secure investment you can also go into the way rich people always do.
Do you know there are so many coins investment you can do online?

They are called "Cryptocurrency" meaning, secured currency. They are just like all this currency we spend which are Naira and Dollars. Naira and Dollars are visible and printed but Cryptocurrencies are not visible and they are only mine.

Some of this coins are lite coin, bit coin, alt coin, ripple coin, The Billion Coin and many like that. Let me quickly talk about the recent one now called The Billion Coin (TBC).

This coin was introduce on the 21th of March 2016, it was introduced in Nigeria April 1st and 10 (ten) coins was sold for N86. The more people know about this coins world wide, the more it gain values every day by 1pm. As at this moment, the ten coins now value millions of Naira.

I heard of story of a guy who in 2009 sold 10,000 bitcoins just to buy pizza..... Now same 10,000 bitcoins is now worth 7m dollars.
Don't just buy, learn more about your investment.......

You can never know the worth or value of a thing you have at hand until the thing is no more.

Now lots of people are running up and down looking for a way to register for MMM after millions of Nigerians are already enjoying it for months now buy helping each other with their spare money.

This is why the rich people will continue to be rich just because they always take risk with the little money they have and invest it for the future and some poor people will continue to be poor just because they choose and decided to remain to be poor.

They are not ready to take risk and loose any penny from what they have to any thing or anybody and that makes them continue to be slaves and servant to the rich people.

I remember I heard about a graduate who was introduced to this coins of a thing (TBC), she gave it a try by investing in it. With the price of the coin in the market today, the graduate now worth millions of naira and the surprising thing is that she just graduated and haven't even done her youth corp yet.

It's time for Nigerians to be wise and change for the goodness of ourselves by embracing good things maybe it will last or it's just for a while. But let us always have a positive mind towards things we come across.




God bless us all!






http://jahelastic..com.ng/2016/12/most-nigerians-are-blind-from-seeing.html?m=0

Blakjewelry:
Why e be say na when he travel he dey talk

As you have noticed bro, he only talks when ever he goes out of the country.

*As SON develops new standards for harvesting, processing
The Standards Organisation of Nigeria (SON), says it has developed new standards for rice seeds, harvest, milling, drying and hygiene practice for processing and storage of rice in the country.

The Director-General of the organisation, Mr Osita Aboloma, said this in Abuja on Tuesday at the 3rd Nigeria Rice Investment Forum organised by the New Partnership for Africa’s Development (NEPAD).

Represented by Dr Barth Ugwu, the Head, Federal Capital Territory (FCT) office of the organisation, Aboloma said the standards, developed in 2016 was to improve the quality of paddy and milled rice.

He said that total compliance with the standards would ensure zero rejection of the country’s agricultural products at the international markets.
The director-general listed some of the quality parameters embedded in the standards to include germination, husk less seed, pesticides, residues, packaging, labelling and storage.

The Chief Executive Officer, the New Partnership for Africa’s Development (NEPAD), Business Group, Mrs Gloria Akobundu, said that increase in agricultural production was crucial to promoting the country’s economy.
Akobundu said that increasing in rice production in the country would guarantee economic growth.
According to her, an average Nigerian citizen consumes over 24.5 kilogrammes of rice annually, adding that the nation`s production level of 3.5 million tonnes of rice annually is insufficient.

She said that the theme of the forum entitled: “2018 Self Sufficiency in Rice Production: Opportunities, Challenges and Road Ahead’’, was in line with President Muhammadu Buhari’s plan to diversify the economy.
“Nigeria is the second highest importer of rice in the world and the highest in Africa,’’ she said.

Mr Hiroshi Kodama, the Senior Representative of the Japan International Cooperation Agency (JICA), said the agency had assisted Nigerian farmers in rice milling and processing in Niger and Nasarawa States.

He said the agency would extend its assistance to other states of the federation to boost rice production in the country.

NAN

http://jahelastic..com.ng/2016/12/nigeria-is-second-highest-importer-of.html?m=0

President Muhammadu Buhari on Tuesday asked Nigerian elite to stop making what he called expensive demands from his administration because things would no longer be done in the old way.
He warned them to stop insisting that things should be done the old way which impoverished the nation.
The President spoke during a meeting he had with a group of Nigerians in the Diaspora, on the margins of the 3rd Dakar International Forum on Peace and Security in Africa in Dakar, Senegal.

According to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President said his administration was on the right track to improve the image of the country by entrenching accountability and probity in governance.

He told the 11-man Nigerian delegation of association leaders resident in Senegal and Cote D’ Ivoire, that the last 16 years of poor handling of the nation’s resources and infrastructure have continued to impact negatively on the country.

The President, “This administration is pleased we won the election, we are pleased Nigerians are cooperating with us. But the problems are so enormous that we need the cooperation of Nigerians, particularly the elite.

“They (elite) should reflect on the condition of the country, and stop making expensive demands because things cannot be done the old way.”

On the welfare of Nigerians in the Diaspora, Buhari assured them that the Federal Government would continue to promote good neighbourliness and improve the negative perception about Nigerians abroad.

“Nigerians are known for their competitiveness and I am very passionate about Nigeria. I will continue to preach good neighbourliness and work hard to improve the numerous human and material resources in the country,” he said.



http://jahelastic..com.ng/2016/12/stop-making-expensive-demands-from-me.html?m=0

From next month, importation of vehicles through the land borders will be prohibited, according to a new prohibition order issued by the Federal Government to that effect. The prohibition order covers all new and used vehicles.
A statement issued on Monday by the Nigeria Customs Service indicated that the ban was sequel to a presidential directive restricting all vehicle imports to the seaports with effect from January 1, 2017.
The restriction on importation of vehicles follows that of rice, whose imports through the land borders had been banned since April 2016.

In the statement signed by its spokesperson, Mr. Wale Adeniyi, the NCS advised importers of vehicles through the land borders to utilise the grace period up till December 31 to clear their vehicles landed in neighbouring countries’ ports.
The Federal Government had disclosed at a forum of the automotive industry on Friday that it would ban the importation of vehicles through land borders and enforce the presentation of roadworthiness certificates on such vehicles from their countries of origin before allowing them into Nigeria.
The Director-General, National Automotive Design and Development Council, Mr. Aminu Jalal, who said this on behalf of the government, added that it was a means of controlling the influx of used vehicles, popularly called ‘Tokunbo’, into the country.
Stakeholders in the automotive industry had earlier called for strict regulation of the importation of vehicles, noting that poor implementation of the auto policy introduced in the last quarter of 2013 by former President Goodluck Jonathan administration was driving down the volume of their products.
The auto policy prescribed the imposition of 70 per cent tariff on imported cars, both old and new ones.
While importers of new cars are currently paying 70 per cent of the cost of the vehicles as import duty, owners/importers of Tokunbo cars pay 35 per cent. The government has yet to enforce the implementation of the 35 per cent import duty on used cars, which ought to have commenced last year.




http://jahelastic..be/2016/12/fg-bans-importation-of-vehicles-through.html?m=0

HQuadreal:
For this recession period.
Man must chop na.

Na so

Three suspected Internet fraudsters have been arrested by the Lagos State Police Command for allegedly defrauding an estate agent of about N4m.

PUNCH Metro learnt that the suspects– Olisa Oyegbuka, 28; Ifeannacho Kingsley, 27; and Ujumwa Aniemena, 33–had allegedly hacked into the email of an unnamed client of the estate agent.

They allegedly sent a message from the email to the agent, demanding the transfer of funds kept for the client by the estate agent into some accounts.

The fraud was later discovered after the owner of the account received alerts and subsequently called the agent to demand explanation for the flight of funds from his account.

The case was reported to operatives of the Rapid Response Squad which launched a manhunt for the suspects.

Our correspondent gathered that the three suspects were arrested in Awka, Anambra State.

It was learnt that the suspects were part of a syndicate that specialised in hacking into email addresses and using them to send messages seeking transfer of funds in tranches to different accounts.

The estate agent, who did not want to be identified, said, “The owner of the email account is my client. I received an email giving instruction to transfer funds in my custody to an account belonging to one Emmanuel Ajinubi.

“I transferred N800,000 to the account on October 24, 2016. On October 27, 2016, there was another instruction to transfer N530,000 to the same account, which I did.

“On November 1, 2016, I transferred N720,000 to another account belonging to one Ifenancho Kingsley.

“I received further instruction the following day to pay N850,000 to the same account. The total amount transferred to the two accounts was N3, 820,000.

“On November 2, 2016, my client called me and that was when we realised that the payment instructions did not emanate from him; rather, they were from fraudsters.”

One of the suspects, Kingsley, admitted that two separate transactions of N720,000 and N850,000 were paid to his account.

He, however, explained that a family friend, Chinedu Emmanuel, had requested his account details and took his Automated Teller Machine card and Personal Identification Number to withdraw the money.

“The first alert of N720, 000 that I got on my phone was withdrawn from my account within a twinkling of an eye.

“The following day, I got another alert of N850,000. And almost instantly, there were lots of POS transactions bearing ‘Grand POS’ Asaba. Since then, I have not seen him and I don’t know the kind of job he does. As I talk to you, my ATM card is still with him,” he added.

Another suspect, Oyegbuka, said his friend, Egbuka, who was arrested by the RRS a few weeks earlier, used his (Oyegbuka) account to transfer N800,000 to another account belonging to one Tamino.

RRS investigators said efforts were on to arrest fleeing members of the gang.

The Police Public Relations Officer, SP Dolapo Badmos, warned criminals using other states as a base to perpetrate crime in Lagos that the command would get them from their hideouts.

“The three suspects have been transferred to the State Criminal Investigation and Intelligence Department for further investigations,” she added.




http://jahelastic..com.ng/2016/12/three-suspected-internet-fraudsters.html?m=0

kajoula:
[size=18pt]NIGERIA will be better
......only our aged citizen stop lying[/size]

Yes oh, and we the youth too are not serious at all about the future!

A lion has attacked and killed a circus trainer during a live show in Alexandria Egypt.

A video of the event, which was uploaded on video sharing site LiveLeak, showed the trainer in a cage directing a lion with a stick with another climbing a ladder as children watched.

A third lion however showed up and attacked the trainer, biting him in the neck, prompting horrified screams from the audience.

Although other trainers rushed to his aid and chased the lion off by prodding it with sticks, the train reportedly succumbed to his injuries at a hospital two days later.




https://jahelastic..com.ng/2016/12/lion-kills-trainer-during-live-show.html?m=0

vchykp:
Dem yahoo boys aint smiling, i feel for him, after breaking his shops, he went into fraud.. hmm, that was not the best option tho, since you have gotten lil money from YY, you should have stopoed the act, how on earth did they catch him sef..?

Police are working

Nobel prize-winning author Wole Soyinka said Thursday he has fulfilled his pledge to throw away his US residency green card and leave the country if Donald Trump won the presidential election.

Shortly before the vote, Soyinka had vowed to give up his permanent US residency over a Trump victory to protest against the Republican billionaire’s campaign promises to get tough on immigration.

“I have already done it, I have disengaged (from the United States). I have done what I said I would do,” the 82-year-old said on the sidelines of an education conference at the University of Johannesburg.

“I had a horror of what is to come with Trump… I threw away the (green) card, and I have relocated, and I’m back to where I have always been” — meaning his homeland Nigeria.

The prolific playwright, novelist and poet won the Nobel Prize for Literature in 1986 and has been a regular teacher at US universities including Harvard, Cornell and Yale.

At the same time he said he would not discourage others from applying for a green card.

“It’s useful in many ways. I wouldn’t for one single moment discourage any Nigerians or anybody from acquiring a green card… but I have had enough of it,” he said.

Soyinka, one of Africa’s most famous writers and rights activists, was jailed in 1967 for 22 months during Nigeria’s civil war.

He was reported to have recently completed a term as scholar-in-residence at New York University’s Institute of African American Affairs.




https://jahelastic..com.ng/2016/12/breaking-trump-i-have-destroyed-my.html?m=0

A 25-year-old man, Tolani Ajisefini, has lost one of his ears in a fight that ensued after speaking against hemp smoking in the Mushin area of Lagos State.

PUNCH Metro learnt that Ajisefini, a site manager, had lived with his parents on Olateju Street, Mushin, where the incident happened, before relocating to the Isolo area of the state.

However, he was said to be a regular visitor to the Mushin area where he had friends.

It was learnt that the victim had visited the area penultimate Saturday when he saw some youths smoking hemp in his former house.

He was said to have cautioned them and insisted they left the place.

A resident, who spoke with our correspondent on condition of anonymity, said the smokers ignored him.

“They said he had left the area and had no right to dictate to them what to do and what not to do.

“This resulted in arguments and later degenerated into a fight. One of Tolani’s (Ajisefini) friends also backed him and fought the gang members. Tolani, however, asked his unnamed friend to leave the matter to him alone.

“He pushed his friend aside and ordered him to leave the place. One Michael mocked the unnamed friend, saying Tolani did not appreciate his effort.”

Our correspondent was told that Ajisefini attacked Michael for the statement.

In the ensuing scuffle, Ajisefini was alleged to have grabbed a bottle to attack the suspect, who parried it.

“Michael then bit off one of Ajisefini’s ears. Michael also had a bite injury, ” the source added.

The victim was reportedly rushed to the Lagos University Teaching Hospital, Idi-araba, Surulere, where he was quickly attended to by the medical personnel on duty.

It was learnt that the ear could not be reattached as the tissue was already dead.

“The ear had to be thrashed. The doctors said they may have to perform an operation on him and give him artificial ear. He has been deformed,” a close friend of the victim said.

The case was allegedly reported at the Olosan Police Division.

The spokesperson for LUTH, Mr. Kenneth Otuneme, said he would get back to our correspondent, but he had yet to do so as of press time.

The Police Public Relations Relations Officer, Lagos State, SP Dolapo Badmos, said the police did not have a record of the incident.




https://jahelastic..com.ng/2016/11/mans-ear-bitten-off-after-criticising.html?m=0

A suspected fraudster, Ekperebuike Akadonye, has been arrested by the police for allegedly parading himself as the Inspector-General of Police, Ibrahim Idris, on the Internet.

The 29-year-old suspect, who was apprehended by the Inspector-General Special Intelligence Response Team, also allegedly defrauded a Saudi Arabia-based doctor, identified as Hassan Alkahallaf, to the tune of $10,000.

Alkahallaf was said to have earlier been defrauded by Nigerians via the Internet on two occasions, while efforts to recover the funds had proved abortive.

PUNCH Metro gathered that Akadonpe got Alkahallaf into his trap when he introduced himself as the IG and promised to help the doctor recover his loses.

He reportedly demanded $10,000 from Alkahallaf to facilitate the legal processes of the recovery and the victim was said to have paid the sum into his (Akadonpe’s) account in instalments.

A police source told our correspondent that the doctor contacted the IG through the Saudi Arabian Embassy in Nigeria after realising that he had been duped again.

“The suspect contacted his victims, including Hassan (Alkahallaf), who is attached to the Department of Urology, Security Forces Hospital, Riyadh, Saudi Arabia, via an email address, igofnieria@outlook.com, purportedly belonging to IG Ibrahim Idris.

“He claimed that President Muhammadu Buhari, in his fight against corruption, had directed the IG to make refunds to victims who had been defrauded by Nigerians in the past.

“The doctor replied to Akadonye’s emails, believing he was the real IG of the Nigeria Police Force, and he eventually paid him $10,000 in instalments to get back his lost funds. He lied to the doctor that he would use the money to hire a lawyer who would represent him since he wasn’t based in Nigeria,” the source said.

Another source told PUNCH Metro that the IG directed the IG team to go after the suspect after the case was reported through the Saudi Embassy.

It was learnt that sometime in October, the team trailed Akadonye to Imo State, where he hails from and apprehended him.

“A mobile phone and a laptop he used in carrying out the fraud were recovered from him. He was also found with ATM cards and an identity card of a Federal Bureau of Investigation officer. He is currently being interrogated by operatives of the IG response team,” the source said.

The suspect, in his statement, allegedly confessed to the fraud, saying he took to the crime after his shops were demolished by the government.

He said, “I am a trader and I had shops in Mbano, Imo State. But they were demolished by the government. One of my friends introduced me to Internet fraud. I started by searching for prominent persons on the Internet. When I found Dr Alkahallaf, he told me he had some funds trapped in Nigeria and he wanted to claim them. I presented myself to him as the IG and told him the President had mandated me to assist fraudsters’ victims to get back their lost funds. I asked him to pay for a lawyer. He believed and paid me.”

When contacted, the Force Public Relations Officer, ACP Don Awunah, promised to get back to our correspondent with comments.



https://jahelastic..com.ng/2016/11/29-year-old-impersonates-ig-idris.html?m=0

For allegedly stealing a phone valued N6,000 and N1,000 cash, an Egor Magistrates’ Court in Benin has slammed a N50,000 bail on a 20-year-old man.

The accused, Joshua Innocent, was brought to the court by the Police in Benin for stealing one Itel mobile phone handset and the cash from one Akpobome Blessing.

The Prosecutor, Cpl. Ayo Augustine, told the court that the accused with others now at large, committed the offence on Nov. 25, at Ekosodin Quarters, Benin.

Augustine alleged that the accused stole one Itel handset valued at N6,000 and N1,000 cash from their victim.

He said the accused had one HP laptop without receipt in his possession at the time he was arrested which was also suspected to be stolen.

Augustine said the offence contravened section 390 (9) and 430 of the Criminal Code.

The accused pleaded not guilty to a two-count charge bordering on conspiracy and stealing.

The Magistrate, Mr F.E. Akhere, granted the accused person N50,000 bail and a surety in like sum who must be gainfully employed.

Akhere adjourned the case till Dec. 12 for hearing.

NAN




https://jahelastic..com.ng/2016/11/man-who-steals-n6000-phone-gets-n50000.html?m=0

A 19-year-old man, Olamilekan Yusuf, was on Tuesday arraigned in Lagos for allegedly procuring abortion drugs for his 14-year-old girl friend.

Yusuf, who resides at Turner Eradiri Street, Ajegunle, Lagos, is facing one charge of procurement of abortion drugs at an Apapa Magistrates’ Court.

The Prosecutor, Sgt. Olusegun Kokoye, told the court that the accused committed the offence on October 27 at his residence.

He alleged that the accused, who was having affair with the 14-year-old girl, had slept with her on several occasions.

kosoye said the accused and his lover were neighbours.

“When the accused discovered that his girl friend was pregnant, he convinced her to take abortion drugs, since they were not both ready to cater for a child now.

“The young girl started having severe stomach pains after taking the abortion drugs and she was also bleeding.

“The parents of the 14-year-old girl discovered that their daughter was acting strange and was also in so much pain, they decided to take her to the hospital for medical attention.

“The girl later confessed to her parents that Yusuf, who was responsible for the pregnancy, gave her drugs to terminate it.

“The case was reported to the police and the accused was immediately arrested,’’ Kokoye told the court.

He said the offence contravened provisions of Section 145 of the Criminal Law of Lagos State, 2011.

The accused, however, pleaded not guilty to the charge.

The Magistrate, Mr M.A Etti, admitted the accused to bail in the sum of N100,000 with one surety in like sum.

Etti adjourned the case till January 12, 2017 for further hearing.

NAN



https://jahelastic..com.ng/2016/11/teenager-arraigned-for-procuring.html?m=0

An official of Diamond Bank Plc, Ademola Oshodi, told a Lagos State High Court in Ikeja on Monday that he managed the bank account of Justice Rita Ofili-Ajumogobia numbered 0032091183 domiciled in the bank.

Oshodi told the court that he regularly visited Ofiili-Ajumogobia’s chamber on the premises of the Federal High Court on Oyinkan Abayomi Drive, Ikoyi, Lagos, to collect huge cash sums for onward deposit into the judge’s account.

The banker said whenever the money was above the lawful threshold that could be deposited into the judge’s account, he split it into two, deposited a portion into Ofili-Ajumogobia’s account and the remaining portion into his own personal account.

He explained that he would subsequently transfer the money from his personal account into the judge’s account.

He added that, at a time, he had to help the judge get a Bureau de Change operator named, Abah Said, who helped her to convert naira into US dollars whenever the judge was not comfortable with the normal mode of transaction.

Oshodi said this on Monday when he appeared as a prosecution witness before Justice Hakeem Oshodi of a Lagos State High Court in Ikeja, where Justice Ofili-Ajumogobia was arraigned alongside Chief Godwin Obla (SAN) for alleged bribery and unlawful enrichment.





https://jahelastic..com.ng/2016/11/i-helped-justice-ofili-ajumogobia-move.html?m=0

The CBN’s Monetary Policy Committee decided, at its meeting last week, to retain critical monetary instruments, at levels that will discourage access to cheaper credit, particularly to operators in the real sector. Hereafter, CBN’s inability to acquiesce to pleas of the Finance Minister and several other financial experts to lower interest rates will be examined in the following interview format. Please read on:

Why do manufacturers decry high cost of borrowing?

There is a modest limit to which one can grow a business with personal savings; invariably, sustained growth and expansion usually require additional capital, which may be subscribed or borrowed. It is less risky, for example, to borrow for legitimate business, if loanable funds come with cheaper rates below 5percent, especially where gestation is necessarily extended; besides, easier access to cheap funds will generally support businesses to create more job opportunities. Furthermore, raw material inputs, similarly financed with low interest loans, will also reduce production cost, and positively sustain consumer demand with affordable prices.

Conversely, when it costs up to 30 per cent to borrow, as is currently the case, investors will naturally shy away from the risky gamble of providing their own infrastructure and paying N30 interest on every N100 borrowed. The investment climate and productive sector will invariably shrink, while imported products financed with much lower cost will flood our markets, to compel massive labor layoffs, as erstwhile viable local industries close shop.

CBN has been widely blamed for sustaining high interest rates, how does CBN instigate such rates?

The CBN has statutory responsibility, enshrined in the 2007 Act, to ensure that prices of goods and services, as well as cost of funds, remain within levels that would successfully drive the economy. So yes, by its actions and policies, CBN has the capacity to induce higher or lower cost of funds. The Monetary Policy Rate (MPR) is the prime instrument for this purpose, as it is the rate at which commercial banks borrow from CBN to cover their temporary cash shortfalls. Consequently, with MPR at 14percent, banks will also be inclined to lend to customers, at well over 20percent. Similarly, in successful economies where MPR is usually below 2percent, banks would be encouraged to lend to customers at below 10percent.

So, why is CBN sabotaging the economy with high MPRs?

A low MPR should expectedly stimulate borrowing and consumer spending, and this would be a welcome development, if annual inflation rate is sustained, below, say 2percent. Conversely, if inflation spirals closer to 20percent, any attempt to stimulate consumer spending by lowering interest rates will inevitably further ignite widespread price volatility to seriously challenge CBN’s prime mandate to maintain price stability. Thus, when high inflation rates already prevail, any additional cash injection or easier access to cheap funds, may ultimately gradually induce the Zimbabwe experience, where spiraling inflation and unrestrained excess printing of Zimbabwe’s currency compelled an inflation rate that drove the exchange rate to over $1=1,000,000,000 Zimbabwe dollars.

But some experts have advised that the best antidote to our comatose economy is to spend our way out of the recession?

Such experts are obviously either wickedly mischievous or regrettably grossly misinformed. Evidently, additional injection of Naira liquidity, into a market where, much too much Naira liquidity already outstrips production output, will inevitably trigger an inflationary spiral, to create serious challenges to productivity, and economic resuscitation. President Buhari will be well advised to be wary of experts who advocate a liberal increase in spending as a viable way out of our presently distressed economy.

Are you suggesting that the series of CBN cash interventions and billions of Naira government bailout funds are actually counterproductive?

Well, the answer is evident; so far, these serial interventions have not arrested the inflation spiral, and it is most certain that future interventions will only worsen matters so long as the undeniable presence of ‘Surplus Naira Liquidity’ continues to be a nightmare for CBN to manage.

How can surplus Naira be a problem, when manufacturers are literally howling for access to cheap funds; besides, why should any commodity with a market surplus, become more expensive to borrow?

The naked evidence of the distortional and oppressive burden of Excess Naira is when CBN regularly pays upto 15`percent interest rates to commercial banks to restrain private sector borrowers from easy access to cheaper funds, so that liberal spending will be curtailed to keep inflation from spiraling out of control and wrecking the economy. Incidentally, commercial banks, primarily, will earn over N500bn this year, as interest charges, as CBN borrows about N6Tn projected surplus Naira supply, to mop up the prevailing burdensome excess liquidity, by selling Treasury bills to banks with very high yields.

So, inexplicably, the cost of Naira loans will paradoxically become higher when systemic surplus Naira liquidity remains CBN’s albatross.

With such easy bountiful returns from CBN’s Treasury bills, why would commercial banks lend to the real sector; besides, what is the prime cause of excess Naira supply that persistently challenges a more responsible economic management?

You are absolutely right; it is highly unlikely that banks will service the real sector with cheaper funds, when government itself is borrowing trillions of Naira from them at such ridiculously high and oppressive interest rates; it is certainly less risky to lend to government than the real sector. However, perennial Excess Naira supply is the cumulative product of decades of CBN’s regular creations of Naira allocations as substitute for dollar denominated revenue. Thus, as dollar earnings increase, the greater is the threat from excess Naira supply and its train of regressive consequences.

Is the Naira exchange rate also a victim of Excess Naira supply?

Yes of course, Excess Naira supply is the prime cause of a weak Naira, because the Naira exchange rate will remain threatened so long as CBN persists in its regular auctions of small rations of dollars, in a money market that is, undeniably, embarrassingly suffocated with Naira surplus. Regrettably, the process of reducing the surplus Naira burden from the system attracts a distortionally high interest burden and also crowds out the real sector from access to cheap funds to grow their businesses and create more jobs.

However, the Naira will begin to appreciate if Naira liquidity is better managed and CBN ceases to substitute Naira allocations for dollar denominated revenue, and then for the Apex bank to subsequently turn round thereafter, to auction the same dollars in a market flushed with excess Naira supply.

Is there a more progressive way of dealing with the Excess Liquidity problem?

There are two plausible strategies which can work together to reverse our economic distress.

First, the mandatory Cash Reserve Requirement (CRR) for banks must be gradually modulated to an equilibrium level that would eliminate the need for CBN to compulsively borrow to remove excess Naira supply from the custody of commercial banks. The need for CBN to borrow will cease at that equilibrium level, so that banks will ultimately have no choice but to enthusiastically court the real sector with modest interest rates, if they must also stay in business. Alternatively, banks can be directed to conversely pay a token fee below 2percent for CBN to warehouse their surplus funds, as is currently practiced in successful economies.

Secondly, the CBN should also stop replenishing the pool of systemic excess liquidity, by persistently substituting Naira allocations for distributable dollar income to the constitutional beneficiaries of the federation pool.



https://jahelastic..com.ng/2016/11/high-cost-of-borrowing-who-is-fooling.html?m=0