Takwando:

REAL ESTATE

[quote author=sirgalahad26 post=128576520]no ooo!!!
we don't want it to be oversaturated![

emkz:
These are just temporary measures and are bound to fail. The forex market in Nigeria is like a hydra-headed snake. Cut one head; as you face another head, the first head will grow back. Cut the damn neck! In other words, let the CBN address the root of the problem instead of pretending they don't know.

Since last week, dollars injected into the forex market are mopped up.

Who exactly are those mopping up the forex?

What economic activity is tied to the raid of the forex?

Ribadu claims the activities of speculators are responsible for the hike in dollar rates.

My question to Ribadu is: why are the speculators not afraid of the government?

For many years, bank MDs have been accused of buying forex from CBN and the forex goes into the black market through back channels, for example, there are vulturistic abokis sitting in banking halls trying to buy off dollars from customers.

Who regulates those abokis?

If the $10billion the vice president said would come into the system enters, it would be evacuated by the same speculators which would not solve the problem.

My observation is that CBN has lost complete control of the forex market and are being regulated by the BDCs and population instead of CBN being in control. All over the world, forex trading is heavily regulated by governments through central banks.

What I also observed is that the dollars are mopped up by those who don't need them but are keeping them for a profit. Therefore, let CBN take complete control of the forex market through the following measures:

(1) Deregister all unlicensed BDCs. That market is heavily unregulated and until they are faced squarely by the authorities, the practice of the naira dying will not stop.

(2) Stop selling dollars to commercial banks as it is clear that they have failed in meeting their obligations to customers with the dollars. People who approach the banks for PTA/BTA and school fees are directed to the BDCs. Why do BDCs have dollars and banks don't? Even with banks, some people still approach the CBN to transfer their school fees. Infact, it was found that the banks had $5billion in their vaults. How come no one has been punished when these same banks created artificial scarcity to push people to BDCs?

(3) All banks should be compelled to show a statement of how they used the dollars they received from the CBN from the last two years. At least it would give us some ideas of what disappeared through the black market.

(4) CBN needs to carry out a tsunami on the banking industry. Use some bank MDs known for the forex fraud as examples by dismissing them for breaking the law.

(5) Once all these measures are taken, the CBN must protect all forex coming into the country to ensure the problems we currently have are not iterated.

In summary, CBN needs to take drastic measures to regulate the market.

There are other measures that can be taken to get the dollars from those who have stored them. Whether the CBN would have the will is something else. The Nigerian forex market is like those who pirate music.

Kill the black market for forex.

The best comment on this thread

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Bullpenn11:
Not only Vanity projects. Alcoholic and olingo lifestyle come join, plus his wife’s massive corruption and greed. They have looted d state.

EBELE OBIANO IS THE MOST HATED FIRST LADY IN THE HISTORY OF ANAMBRA STATE.

HERES WHY.by

EBERECHUKWU OBIANO did the unthinkable when she exported Anambra State funds to Houston, USA and hired several U- Haul trucks, setting up under a bridge there to feed Americans, even dashing them other goodies from bags filled with electronics and other gifts in that oil rich state, and using [b][/b]her front for laundering cash, called the CAFE FOUNDATION while millions of citizens in her home state of Anambra were starving and poverty ridden. She did not care about these poor masses, as her mission was to engage in this PR stunt in preparation to by , as she has continually boasted, for the elective office of Mayor of Sugarland, Texas. In preparation for this, this First Lady has been transferring huge funds from Anambra State treasury to USA using various fronts.
She has applied for US citizenship in order to pursue this objective, but unknown to her, there are several petitions pending against her, both at the EFCC and the United States, even under the presidential proclamation 7750 which deals with corrupt foreign public officials who have domiciles assets, proceeds of corruption from their home countries.

Ebelechukwu Obiano’s overbearing and avaricious attitude has cost Governor Willie Obiano dearly. It was said that this was the major reason Willie Obiano couldn’t ascend the position of the Managing Director of Fidelity Bank. It was her attitude that drove the Governor into drunkenness especially when it became difficult for her to conceive.

Mrs Obiano is so razz and uncultured having been raised by a single mother that was busy having children for eight different men. Up till today, people still wonder what could have brought such a cultured and well trained man like Willie Obiano, together with such an uncultured woman. It’s common knowledge that Mrs Obiano has overturned many Executive decisions that does not favour her business interest. She has even caused letters of appointments made by the Governor to be either withheld or sub-planted with another one. It’s common knowledge that Mrs Obiano does not mind making their home uncomfortable for her husband until he reverses the Exco decisions. She doesn’t care even if by doing that, the husband commits an impeachable offense.
The most troubling reversal of Exco decision happened when Madam Governor used her diabolical powers to overrule the Executive Council decisions regarding facility management in the Government Lodges. Despite Exco’s approval of some companies by merit, Ebele Obiano, ,She that must be obeyed,, swung into action to deploy her companies to the various contracts thereby nullifing Executive Council decisions. Till today, her companies are the ones executing all the contracts in all the Government lodges. And the worst is that in the face of all these, the Governor seems so powerless and withdraws further into drinking. He comes to work at the Government House only once a week for the Executive meeting.

Mrs. Obiano's appetite for money is unquenchable to the extent that she does not even understand what is meant by conflict of interest by those in government. She’s everywhere.

During the Covid pandemic she hijacked the palliatives donated by FG to Anambra State and repackaged the food items as campaign goodies she wants to share during this coming Senatorial election. In fact 2 women were shot dead when they tried to collect indomie packages that fell on the road from one of the trailers conveying those palliatives to a secret location for storage pending the coming Senatorial election. This is the height of wickedness.

She executes various fraudulent schemes using known proxies in all ministries. She uses CAFE her pet program as the reason for her excessive acquisitions. She manipulates the State’s IGR through Uche Okafor, Commissioner for Transport notoriously known as the Wiping Wiper and also using Dr. Nzekwu of the State Revenue Agency and the disgraced and demoted Okey Anyayo.
She also uses Mr Luke Aniakor, Primus Odili, Emeka Ozumba, and many others as her proxies in moping all the funds from Anambra State. She forced the installation of her brother as the Anambra Market Chairman and he collects over N20m monthly in IGR from the markets in Anambra State but remits a paltry N300k to the state.

Below are some of the companies she uses to execute the facilities management and other contracts in Anambra State against the approval of the Anambra State Executive Council.

1. Golden Fingers
2. Siva Engineering
3. Moses must Win
4. Agape Holdings
5. Health Ambassadors and Associates
6. Imoyel Construction.
7. EOM Nig Ltd.
8. Heaven At Last Services
9. Shuhel Nig
10. Rejoice Nig. Ltd,

The ten companies mentioned above are owned 100% by madam governor of Anambra State. Those are some of the companies that Mr. Luke Obiakor uses to terrorise Permanent Secretaries in all the Ministries in Anambra State.
The slow pace of many contracts and road repairs in Anambra state like the Enugu-Agidi- Nawgwu -Ukwulu road which is not yet done 50% is because the job is under Mrs Obiano even when the contract has been fully paid. The Amawbia-Nise-Nri-Agulu road rehabilitation is not done 30% because Madam Governor is the one handling the repairs and the Commissioner for works dare not query her almost uncompromising attitude to the pace expected of construction companies in Anambra state in execution of these road contracts

1. Paul Obiakor moves millions of naira every week to the governor's lodge at Amawbia. We have records and will present them to the incoming governor.

2. Details of all jobs done in all ministries by Mrs Obiano will be published.

3.All the contracts Mrs Obiano cornered at ASUBBEB which she has not done and the ones she barely touched will be published in our subsequent publications.

4. Anambra Roads Maintenance Agency (ARMA) is squarely under Mrs Obiano as she positioned her cousin as the MD of ARMA since it's inception. We have records of all roads she collected money for but refused to execute the repairs.

5. We will publish the names of Mrs Obianos's agents in Ministries, Agencies, MDAs and Parastals of government in Anambra state who Mrs Obiano positioned as Commissioners and MDs. These people make returns to her every month.

6. After March 17 when she and her looting husband hand over to Soludo, we will expose local and international bank accounts of Mrs. Obiano. Monies she siphoned and lodged in accounts under the name of her mother, daughter, and brother as well as proxies in America and also those monies she lodged with a guy widely known as her boyfriend in America.
Ebelechukwu Obiano has, to date 17 properties in USA purchased through her proxies. Even 2 properties at Ruxton Road, Ikoyi were bought on her behalf by proxy. The London home of the Obianos was bought under the name of her junior sister who is a Liason officer at Anambra Liason Office in Lagos, and their 3 properties in Dubai were bought under d name of Ogechi, their daughter and their adopted son Chukwudifu and Mrs Obiano’s mother’s name. This greedy woman has emptied the state treasury and the Obianos will be leaving the state with a heavy debt burden.



Ayamelum Frontiers for Democracy and Good Governance.

. VANITY UPON VANITY. EVERYTHING IS VANITY

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WibusJaga:
I keep wondering too.

Can any sensible person tell me why the vaccine should be made mandatory or why one should be denied certain rights for not taking it?
From what I heard, the vaccine doesn't stop one from contracting Covid-19 but only possibly reduces the severity.
So what risk does the Unvaccinated people pose to the Vaccinated people?
It's as if these people feel they are being used as experimental Guinea pigs for this controversial vaccine & therefore want to forcefully drag as many people as possible into the experiment. SMH.

Issorite

I comment my reserve