maishai:


This can never work................I use a prepaid meter in my current house and my pumping machine AC and Feeezer is not on it (fine=50k) and i Paid the fine once and became friends with the officials as they just pocketed the fine for themselves(they have no idea of Electrical wiring), now the bulk of other residences do the same and many are into ICE-BLOCK business, they hardly collect money from indigines that see the light as their share of the national cake.......................



From my level magnify it to a national scale.........................PREPAID CAN NEVER Work in Present day Nigeria................. I dont know of tommorrow

.

But...how

Aquilapriscilla:
.

But...how

They by-pass the prepaid meter directly to the line supplying the pre paid meter light.

As d hunter learnt to shoot without missing, d bird learnt to fly without perching.

CsRockefeller:


They by-pass the prepaid meter directly to the line supplying the pre paid meter light.

As d hunter learnt to shoot without missing, d bird learnt to fly without perching.

I stay in the north ,we use ppm 120.1kw is like 3000 plus its not even up to 3500 (this includes vat) and we use it for like 1month plus
We don't have AC ,our pumping machine use solar panel,we don't leave fridge over night,or on light bulbs any how.

The thing is that change begins you(me)...if we in our small circles start effecting what we want to see on a larger scale,in no time there will be a ripple effect. You know one country that baffles me on how they grew from rags to riches.. =Japan
Sometimes I feel we in Nigeria got everything to easy and cheap (especially our independence)..we should have fought for it with tears and blood... Then we will understand what Nation hood means.. Well hopefully we get there someday

Thanks

emmasoft:


As per BVN you can check the link below:

https://www.chronicle.ng/2017/11/full-list-of-bvn-centers-for-nigerians-in-diaspora/

Although we appreciate his been open on the forum, it would be better off if he does the right thing. Its the thing we always complain about as a nation.
Is your own pumping machine a DC pump? what is the capacity?

Aquilapriscilla:

I stay in the north ,we use ppm 120.1kw is like 3000 plus its not even up to 3500 (this includes vat) and we use it for like 1month plus
We don't have AC ,our pumping machine use solar panel,we don't leave fridge over night,or on light bulbs any how.

The thing is that change begins you(me)...if we in our small circles start effecting what we want to see on a larger scale,in no time there will be a ripple effect. You know one country that baffles me on how they grew from rags to riches.. =Japan
Sometimes I feel we in Nigeria got everything to easy and cheap (especially our independence)..we should have fought for it with tears and blood... Then we will understand what Nation hood means.. Well hopefully we get there someday

Aquilapriscilla:

I stay in the north ,we use ppm 120.1kw is like 3000 plus its not even up to 3500 (this includes vat) and we use it for like 1month plus
We don't have AC ,our pumping machine use solar panel,we don't leave fridge over night,or on light bulbs any how.

The thing is that change begins you(me)...if we in our small circles start effecting what we want to see on a larger scale,in no time there will be a ripple effect. You know one country that baffles me on how they grew from rags to riches.. =Japan
Sometimes I feel we in Nigeria got everything to easy and cheap (especially our independence)..we should have fought for it with tears and blood... Then we will understand what Nation hood means.. Well hopefully we get there someday

South Africa that fought for independence with tears and blood, what did they do with it?

Have you forgotten how Zuma stole millions of dollars?

Without a compelling ideology or a strong philosophy to succeed, I DON'T see how we can succeed in this country.

Ask yourself, as a country, what do we collectively stand for?

Perhaps corruption

ahiboilandgas:
we have a proverb that a Good friday start with Wednesday....so of the wed is fantastic the chances of the friday been superb is big.....the human resources and structures available to drive Nigerian from insanity to sanity is sannity is not there or not available.....more revenue accrued to Nigeria state means more looting and more executive consumption and more white elephant project .....what happen to the 7.5 vat increase and 1 trillion dollars earn from 1999 to 2020 ?........the structure that can deliver any meanful developments with small revenue (like 7km apapa port to ijora) who magic will the structure/system perform with 50 tax increases...notting but more car to dino malaye ....soon senator will start buying private jets .
.

Very True.

CsRockefeller:
My dear right now is that Nigeria has missed it.

The opportunity to grow and blossom might have passed us. Oil is gradually fading away, population is getting higher.

We built only Lagos and perhaps Abuja that can work without the oil money.

Future looks bleak.

I agree that Lagos can stand alone but remove oil money and Abuja will be grounded.

How good is this below?:


Legacy USD Bond Fund
FCMB Asset Management Owned Legacy USD Bond Fund (launched in 2018) is a SEC-registered US Dollar-denominated Collective Investment Scheme, structured as a high-yield mutual fund. The Fund seeks to generate stable income over the long-term. Legacy USD Bond Fund invests in credit-rated US Dollar-denominated fixed income securities issued by the Nigerian Government, Supranational bodies, and Corporate entities.
December 27th
Fund Price – N306.5
June 26th
Fund Price – N360.5
Return – 24.4%

How true is this?:

New Gold ETF
Vetiva’s The NewGold Exchange Traded Fund (NewGold) is an Exchange Traded Fund that was listed on The Nigerian Stock Exchange (NSE) in December 2011. It tracks the price of gold and offers institutional and retail investors the opportunity to invest in a listed instrument (structured as a debenture) that is fully backed by gold bullion. Each NewGold security is equivalent to approximately 1/100 ounces of real gold bullion held in a secured stockpile of gold bullion. All gold is kept in the form of London Gold Delivery Bars and Good Delivery Standards are prescribed by LBMA.
December 27th
Fund Price – N5,220
June 26th
Fund Price – N8,000
Return – 53.3%

gaeul:
See what Treasury bills thread has been reduced to...When a house is abandoned...Rat and reptiles take over....I pray rates get better soonest...so this thread can come alive again

Between Afrinveast and United Capital PLC where would you rather invest your hard earned money? Please breakdown your reasons.

~Concerned learner

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topsquino:


South Africa that fought for independence with tears and blood, what did they do with it?

Have you forgotten how Zuma stole millions of dollars?

Without a compelling ideology or a strong philosophy to succeed, I DON'T see how we can succeed in this country.

Ask yourself, as a country, what do we collectively stand for?

Perhaps corruption

Yes, the situation is just sad..

Aquilapriscilla:

Yes, the situation is just sad..

Good morning guys!
Learnt Shoprite is leaving Nigeria after its 15 years of coming in. Do you see that as a red flag?

ojesymsym:
Although we appreciate his been open on the forum, it would be better off if he does the right thing. Its the thing we always complain about as a nation.
Is your own pumping machine a DC pump? what is the capacity?

Yes, it uses both AC and DC, I don't know the capacity but my Dad bought it at 400k from yola

Phylife:

Good morning guys!
Learnt Shoprite is leaving Nigeria after its 15 years of coming in. Do you see that as a red flag?

Not really.
I wonder why they blame the pandemic; there must be some other reason because essential goods and grocery retailers are doing well elsewhere in Nigeria and around the world. They may have to change the mix of goods they sell - replace some items with items more within Nigerians' purchasing power - for instance, but their basic business premise is still sound, I'd say.

There are forex and other issues involved, yes, difficulty of repatriating dividends, maybe, and the hopeless Lagos ports wahala with respect to importing their goods, but If Spar, Cash n Carry, Ebeano and numerous smaller retail establishments are still kicking, then they can remain. I think they're just tired of Nigeria.

Cyberknight:


Not really.
I wonder why they blame the pandemic; there must be some other reason because essential goods and grocery retailers are doing well elsewhere in Nigeria and around the world. They may have to change the mix of goods they sell - replace some items with items more within Nigerians' purchasing power - for instance, but their basic business premise is still sound, I'd say.

There are forex and other issues involved, yes, difficulty of repatriating dividends, maybe, and the hopeless Lagos ports wahala with respect to importing their goods, but If Spar, Cash n Carry, Ebeano and numerous smaller retail establishments are still kicking, then they can remain. I think they're just tired of Nigeria.

This is definitely a sign of a very big problem.........If Foreign Direct Investors are running away from your country........... Let us Nigerians especially The Government learn to Obey Contract Terms and Conditions................. No-body should envy the south-africans when they repatriate the money they make in Nigeria cos the Leaders that handed them our markets in the first Place did it with their eyes open......


The death of SHOPRITE marks the end of Mall Business in Nigeria as It was the Brand that Repopularise Mall shopping in Nigeria........The combination of cash and carry, prince Ebeano and Spar can never Rival Shop rite.............

To envisage what a Dead mall would look Like...... Please Visit Pine Mall in Sango and You will weep........Shop-Rite is what keeps that place alive since Inception...........Now imagine what that place would look like after Shoprites exit

Phylife:

Good morning guys!
Learnt Shoprite is leaving Nigeria after its 15 years of coming in. Do you see that as a red flag?

Soja go Soja come barracks remain. Nigeria is a big market. Don't be surprised if they leave more of such stores will come. Most of this establishments if they have not entered Nigeria market they don't seems fulfilled. They may end up not leaving because what they benefits here far outweighs the downside

Good bye ShopRite.

Phylife:

Good morning guys!
Learnt Shoprite is leaving Nigeria after its 15 years of coming in. Do you see that as a red flag?

Another Investor will buy their shares in the business

emmanuelewumi:
Good bye ShopRite.

Staff Theft can never be the reason for their leaving............. Anybody doing business and expecting holy-staffs is not ready for business in nigeria.......

emmanuelewumi:
Good bye ShopRite.

How can a salesgirl steal 553 million, that's fanciful.
How much then are the board and others allegedly pilfering.

maishai:
Staff Theft can never be the reason for their leaving............. Anybody doing business and expecting holy-staffs is not ready for business in nigeria.......

i actually saw some staff stealing in shoprite ...a cashier friend (syndicate) walk in make some purchase several small items to make the list long ,then add some expensive items then go to cashier who scan only cheap items then he out.....

ahiboilandgas:
i actually saw some staff stealing in shoprite ...a cashier friend (syndicate) walk in make some purchase several small items to make the list long ,then add some expensive items then go to cashier who scan only cheap items then he out.....

Yes, I've heard of such pilfering being done in retail outlets.
But I find it difficult to believe that it would go on on the scale that it would drive the business under

maishai:
Staff Theft can never be the reason for their leaving............. Anybody doing business and expecting holy-staffs is not ready for business in nigeria.......

Even in the US or Europe,if you don't guard your business well,staff will pilfer as much as they can and run you down.
Anybody complaining of bad staff is too stupid to run a business and should use that capital for other daft people's investments.
I think and is quite sure shoprite is wanting to leave because of unstable naira which keeps affecting their revenue when repatriating profits and not some daft,staff 500m naira crap story.

Cyberknight:


Yes, I've heard of such pilfering being done in retail outlets.
But I find it difficult to believe that it would go on on the scale that it would drive the business under

i didnt know what to do ..to report them or not ...i just frooze ...the poorly paid security just look at the receipts faintly....

Cyberknight:


How can a salesgirl steal 553 million, that's fanciful.
How much then are the board and others allegedly pilfering.

She brought her own POS to work.

It is as if some of you are either unaware of how bad Nigerian has gotten or you are just eternal optimists. It is easy to say someone else would buy their shares in the business but many are ignoring the fact that this creates signalling for other foreign investors to avoid the country. Nigeria cannot grow in autarky like many people seem to imply (DStv is leaving, NTA would replace them, ShopRite is leaving, Ebeano would replace them, yada yada).

Phylife:

Good morning guys!
Learnt Shoprite is leaving Nigeria after its 15 years of coming in. Do you see that as a red flag?

ShopRite will sell their shares in the business, to those who have the billions to buy it.

einsteine:


She brought her own POS to work.

It is as if some of you are either unaware of how bad Nigerian has gotten or you are just eternal optimists. It is easy to say someone else would buy their shares in the business but many are ignoring the fact that this creates signalling for other foreign investors to avoid the country. Nigeria cannot grow in autarky like many people seem to imply (DStv is leaving, NTA would replace them, ShopRite is leaving, Ebeano would replace them, yada yada).

A known trick - how did the accountants or control people miss it to the extent that she took 553 million? Cashiers' POS receipts are supposed to be checked after every shift/day (I have a friend who runs a couple of mid-size supermarkets), so obviously if this was truly a method used to defraud a company to a reasonable extent, it was a whole chain of staff involved and not one salesgirl.

Agreed on the optics of their exit from Nigeria - it doesn't look too good from outside, irrespective of whether locals take up the slack or not.

einsteine:


She brought her own POS to work.

It is as if some of you are either unaware of how bad Nigerian has gotten or you are just eternal optimists. It is easy to say someone else would buy their shares in the business but many are ignoring the fact that this creates signalling for other foreign investors to avoid the country. Nigeria cannot grow in autarky like many people seem to imply (DStv is leaving, NTA would replace them, ShopRite is leaving, Ebeano would replace them, yada yada).

Market square is gyrating to replace them when they go
Great news.
The craze for FDI on this particular thread I expected a lot of intellect is alarming.
Is it not these same FDIs people that are putting pressure on the naira now because they are trying to repatriate their funds to home countries?
Now imagine if Nigeria could replace these FDIs with indigenous companies by say 50%.
Don't you know overtime naira will strengthen marginally for sheer lack of dollar demand by these FDIs?
I expected more honestly...
Nigeria is not a country that can't do without FDI in an ordinary retail business.
Make them commot abeg,can't wait for sundry foods to become a fortune 500 company.
Shoprite is leaving,shoprite is leaving...make I begin cry abi wetin?

Cyberknight:


A known trick - how did the accountants or control people miss it to the extent that she took 553 million? Cashiers' POS receipts are supposed to be checked after every shift/day (I have a friend who runs a couple of mid-size supermarkets), so obviously if this was truly a method used to defraud a company to a reasonable extent, it was a whole chain of staff involved and not one salesgirl.

I can't remember the amount but apparently it seemed it ran for a month. Also, cashiers share POS at ShopRite. That may make their reconciliation process difficult.

Either way, the major cause of their exit is the uncertainty of the Nigerian economy. When investors bring in FDI, they get a Certificate of Capital Importation and the funds are exchanged at official rate. They do this under the guarantee that profits would also be repatriated at official rate. The CBN has largely reneged on this guarantee.

ShopRite does not own most of their stores and their would be butterfly effects as some of the malls deal with lower occupancy rate. The absence of ShopRite in some of the malls would lead to reduced foot traffic and loss of revenue for other stores in the mall (at least in the short term).