Showing posts with the label business

Buhari’s Income and Expenditure Estimates: Budget of Incompetence

Budget literally means estimates of income and expenditure for a given period – usually annually. Budget is not limited to governments and corporations. A budget can aid an individual to live within his/her means.

CBN and sliding Naira: testing how low the Naira can go

President Buhari once said that he has not been convinced why the Nigerian currency (Naira) should be devalued. There are also discussions within Nigeria on whether or not the Naira should be devalued.

President Buhari: No rule of law; No foreign investors

Since President Buhari was inaugurated as Nigeria's president on 29/May/2015, he has made a total of 17 foreign trips.  According to his aides, the reasons for Buhari’s frivolous travels include; seeking - international assistance in the war against Boko Haram; Foreign direct investment (FDI); reparation of looted wealth by unscrupulous government officials; etc.

Muhammadu Sanusi 11 - The Emir of Kano: The Talking Monarch

The Emir of Kano, Muhammadu Sanusi II A few days ago my son screamed – daddy…, before I could respond I heard the same scream (daddy) coming from his iPad. Then I asked him; what was that? He laughed and replied; it’s Talking Tom, it repeats everything anybody says. It can even speak Igbo language – speak to it, he ‘commanded’.

Nigerians waiting for Change: Buhari’s Change, Climate Change or Change to Buhari’s Family

Carbon Emission Perpetually airborne President Buhari has flown into Paris from Malta to join other world leaders for the Conference of Parties 21 (COP21) on climate change – a discussion on how to stop our climate from changing.  Sometimes these ‘animals in human skins’ (apologies to Fela Kuti) will not stop amusing me. Do they need to gather in Paris in order to stop the climate from changing?

The Proliferation of Biometrics = Nigeria’s Hypocrisy

Any Nigerian bank customer who didn’t submit his/her Bank Verification Number (BVN) by the end of tomorrow’s (30/October/2015) business hours may no longer be able to access his funds. This is no Halloween’s trick or treat since Nigerians and Africans in general don’t indulge in Halloween.

Greek Financial Tragedy: IMF Double Standard

Normally when countries face financial difficulties they ask for loans from the International Monetary Fund (IMF).

Take away Oil: There won’t be Nigeria

Rauf Aregbesola Obviously, the geographical area called Nigeria, which was created by the British colonialists, exists because of its vast oil deposits. Take away oil, there won’t be Nigeria.

The Difference Between Stealing And Corruption

During his recent media chat, Pres. Jonathan was asked to explain the following statement that he made in 2014; “What many Nigerians refer to as corruption is actually stealing. Stealing is not the same thing as corruption.”

Soludo: the absurdity of his missing N30 trillion allegation

Everybody is an economist in his/her own little way. Thus, you are an economist once you are able to differentiate your needs from your wants, and then, decide on how to allocate your scarce resources (money) to those products that you need.

Is Nigeria prepared for oil price turmoil?

Pres. Jonathan recently said that his government is prepared for the impact falling oil prices will have on the Nigerian economy.

Naira devaluation: the domino effect

According to the Central Bank of Nigeria (CBN), the Naira, the Nigerian currency is under pressure because of falling oil prices and excessive demand for foreign currencies. Hence, the CBN thought the best way to ease pressure on the Naira was to devalue the currency from the official fixed exchange rate of N155/US$ to N168/US$.

Dividend of Democracy: What The People Want

Uyo Stadium - Akwa Ibom State In finance, dividend is the sum of money set aside from a company’s earnings, which will be distributed to its shareholders.  The number of shares an investor holds determines his dividend and his say in the company. So profits are divided in proportion to the shareholder’s stake.

Saudi Oil War: the impact on Nigerian economy

Saudi Arabia, the giant of the Organisation of Petroleum Exporting countries (OPEC) is back at what it knows how to do best; oil warfare.

A Bank’s Dilemma with Interest Rate

A bank exists to make profit just like any other corporate organisation. It is statutorily allowed to trade with its customers’ funds upon meeting its capital adequacy requirement.

Bank Lending, Risks and Crisis Management

Bob Hope  (1903 - 2003), a comedian and film actor stated, “A bank is a place that will lend you money if you can prove that you don't need it”.