candidbabe:
This is a step in the right direction

Kingspin:

Mad people na now daybreak?




Multiple FX trade is cooperative nepotism and wickedness, not just monopoly.

globalresource:
Buhari don finish naija

Is this not devaluation? Why using confusing language for Nigerians?

Like Bokoharam has been technically defeated

Jebolala:
All this one na dogon turanchi, in lame man's language pls what does it mean?

Jebolala:
All this one na dogon turanchi, in lame man's language pls what does it mean?

“It will cushion the impact the lower crude price will have on government revenue as it will increase the naira revenue Nigeria will get from oil exports,” Ayodeji Ebo, managing director at Afrinvest Securities in Lagos said by phone.

CanadaOrBust:
This makes sense. Nigeria should adopt a uniform exchange rate that eliminates black market and round-tripping and the rampant corruption that goes with them!

agbari1:
What this means is that dollar was exchanged BY CBN for importer AT N357 and N307 for exporter. This means you you pay more Naira to get dollar if you are importing. This goes for payment of school fees abroad and other goods and services. Black market operators also get dollar from CBN at 357 to 1 dollars. That is why at black markets the exchange rate hovers around 358 to 362 to one dollar during the period. Government receives dollar from the sales of her oil which is kept by CBN. Projected budget of government for 2020 is based on oil benchmark price of 57 dollar per barrel. The price of oil has fallen in the global market to below $30. This means that government revenue has fallen substantially as oil accounts for about 90% of export earnings. In order to get more Naira to pay for internal spendings in the country such as payment of salaries and contractors, government must get more Naira. In doing so, quantity of Naira to be exchanged for dollar must be increased. Government doesn’t want to use the term “devaluation” hence it used exchange rate equalization. This means that no more 307, 357 Naira exchange to the dollar anymore but N380 for all multiple exchanges to a dollar. So our official rate to one dollar is now N380. Black market operators will be selling at amount higher than this may be N400 to one dollar depending on the availability of dollar in the market. Remember that over 50 oil cargo of Nigeria is on the see without willing buyers ad the demand for oil has reduced in the international market. The price is on the free fall because of Saudi and Russia price and output war. If the price of oil falls further to say $20 per barrel, Naira nearly collapse. Government may ban importation of less essential goods. It may go and borrow money from from international financial institutions such as IMF with stringent measures. It may devalue the currency further. Those with fixed income will be worse off. Prices of goods and services will go up. Demand for goods and services will fall. It will affect company revenue and lead to job loses.

agbari1:
What this means is that dollar was exchanged BY CBN for importer AT N357 and N307 for exporter. This means you you pay more Naira to get dollar if you are importing. This goes for payment of school fees abroad and other goods and services. Black market operators also get dollar from CBN at 357 to 1 dollars. That is why at black markets the exchange rate hovers around 358 to 362 to one dollar during the period. Government receives dollar from the sales of her oil which is kept by CBN. Projected budget of government for 2020 is based on oil benchmark price of 57 dollar per barrel. The price of oil has fallen in the global market to below $30. This means that government revenue has fallen substantially as oil accounts for about 90% of export earnings. In order to get more Naira to pay for internal spendings in the country such as payment of salaries and contractors, government must get more Naira. In doing so, quantity of Naira to be exchanged for dollar must be increased. Government doesn’t want to use the term “devaluation” hence it used exchange rate equalization. This means that no more 307, 357 Naira exchange to the dollar anymore but N380 for all multiple exchanges to a dollar. So our official rate to one dollar is now N380. Black market operators will be selling at amount higher than this may be N400 to one dollar depending on the availability of dollar in the market. Remember that over 50 oil cargo of Nigeria is on the see without willing buyers ad the demand for oil has reduced in the international market. The price is on the free fall because of Saudi and Russia price and output war. If the price of oil falls further to say $20 per barrel, Naira nearly collapse. Government may ban importation of less essential goods. It may go and borrow money from from international financial institutions such as IMF with stringent measures. It may devalue the currency further. Those with fixed income will be worse off. Prices of goods and services will go up. Demand for goods and services will fall. It will affect company revenue and lead to job loses.

ehbellsho:
I am trying to understand but still can't/don't get it.
pls, anyone with the summary package?

Excuzeme:
Dont mind the ediots, after the allocation of subsidized Dollars to Hajj Pilgrims has just been finalised... they suddenly remembered.

charlycharles:
Cut-off marks for entrance to Federal UNITY Schools for all 36 states and the FCT
••••
Abia – Male (130) Female (130)
Adamawa – Male (62) Female (62)
Akwa-Ibom – Male (123) Female (123)
Anambra – Male (139) Female (139)
Bauchi – Male (35) Female (35)
Bayelsa – Male (72) Female (72)
Benue – Male (111) Female (111)
Borno – Male (45) Female (45)
Cross-Rivers – Male (97) Female (97)
Delta – Male (131) Female (131)
Ebonyi – Male (112) Female (112)
Edo – Male (127) Female (127)
Ekiti – Male (119) Female (119)
Enugu – Male (134) Female (134)
Gombe – Male (58) Female (58)
Imo – Male (138) Female (138)
Jigawa – Male (44) Female (44)
Kaduna – Male (91) Female (91)
Kano – Male (67) Female (67)
Kastina – Male (60) Female (60)
Kebbi – Male (9) Female (20)
Kogi – Male (119) Female (119)
Kwara – Male (123) Female (123)
Lagos – Male (133) Female(133)
Nassarawa – Male (58) Female (58)
Niger – Male (93) Female (93)
Ogun – Male (131) Female (131)
Ondo – Male (126) Female (126)
Osun – Male (127) Female (127)
Oyo – Male (127) Female (127)
Plateau – Male (97) Female (97)
Rivers – Male (118) Female (118)
Sokoto – Male (9) Female (13)
Taraba – Male (3) Female (11)
Yobe – Male (2) Female (27)
Zamfara – Male (4) Female (2)
FCT Abuja – Male (90) Female (90)

After 50 years of Independence, the government of the so called disadvantaged regions ought to have done something to address the situation. You cannot continue to spoon-feed a child and expect that same child to grow, mature and be independent. A student from Abia scores 130 in the Federal Commonwealth Entrance exam, yet it's almost impossible to gain admission in the school of his choice, yet another child from Zamfara will score less than 5 and gain same admission seamlessly. How do you encourage such a child that hard work and merit pays?

Look at all the appointments the president has made so far, over 90% from the north. They are telling us they are based on merit. My question is how comes, when it comes to appointment, they are hiding under merit to appoint only their own, but when it comes to exams and admission into Federal institutions, they bring in Federal character. I'm an advocate of merit, hardwork, transparency, objectivity and emperical selection process. That way you encourage everybody to work hard for whatever he/she wants. After all, the Bible says, "he who does not work, let him not eat".

It's against natural and spiritual justice and principle to take from those who work and give to those who don't work. That in itself is the root of corruption Nigeria. I support the President's fight against corruption. I advocate the enthronement of merit and objectivity in our national life. So, Mr. President, if you are serious about your anti-corruption mantra, If you are serious about this your new "merit" policy, let's go back to the basis. Start by eliminating all forms of quota system and federal character in the admission process into Unity schools, Federal universities and recruitment/
employment into all federal civil service, agencies, parastatals and let's see who will be qualified. That's my humble submission.

comos:
The Inspector-General of Police, Mr. Ibrahim Idris, on Friday justified the arrest of only suspects of Yoruba extraction over the recent clash in Ile-Ife, Osun State, which resulted in the death of about 46 persons. He said crime neither has tribe nor identity.
Idris spoke with State House correspondents shortly after briefing President Muhammadu Buhari of security situations in parts of the country inside the Presidential Villa, Abuja.
The police had been in the eye of the storm for arresting and parading 20 Yoruba persons, including a monarch, over the clash while not a single Hausa/Fulani person was detained.
The pan-Yoruba group, Afenifere; and the Oodua Peoples Congress are among groups and individuals that have been criticising the police over the development.
Idris however said the police would not hesitate to apply the law once criminal cases are established against individuals, irrespective of their tribe.
He said, “You know we are police officers. Crime has no tribe. If you are a criminal, you are a criminal.
“Crime has no face. We don’t look at crime in the identity of where you are coming from.
“As far as you are a criminal and the police find you wanting, we apply the law.”
He said investigation had revealed that the crisis started with a disagreement between two people selling food along the road.

Source from Punch Newspaper

Grupo:
The summary of the whole matter is that dollar is about to go higher.