During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local currency, over 90% of this total was reportedly used to fund expenses associated with the production of banknotes. The Growing Cost of Maintaining the NairaAccording to Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), between the years 2017 and 2021, the apex bank spent an equivalent of nearly $1.8 billion, or 800 billion naira, managing the local currency. The production of new banknotes alone accounted for more than 90% of this figure. As per remarks published by the Punch, Ahmad, in her recent appearance before Nigerian lawmakers, also claimed that the cost of maintaining the local currency has been increasing by over $22 million annually. Before Ahmad’s disclosure, Kingsley Moghalu, a former CBN deputy governor, had also told lawmakers that the central bank uses approximately $336 million to manage the currency. In addition to incurring high costs associated with managing the naira currency, the CBN has to contend with the increased risk of counterfeiting, the report said. Meanwhile, in her testimony, Ahmad partly blamed the spiraling costs on what she characterized as wholesale hoarding of the naira by the Nigerian public. “An observation supported by statistics shows that cash outside banks consists of over 80 per cent of the currency in circulation; worsening [the] shortage of fit banknotes in circulation. This portends [a] negative public perception of the bank and increases [the] threat to financial system stability,” Ahmad is quoted as saying. To help the central bank overcome some of the challenges identified by Ahmad, the CBN introduced into circulation newly designed naira banknotes on Dec. 15. At the same time, the bank said Nigerian residents in possession of the old banknotes should return these before or by Jan. 1, 2023. Source: https://news.bitcoin.com/report-nigerian-central-bank-spent-over-1-8-billion-managing-local-currency/As I dey read this news wetin dey flow through my head is how true are this figures. We know say our government too dey increase the figure of any money wey dem spend so them fit get their own cut use hold body but if the figures are anywhere near the truth, do you think we are spending too much on maintenance and how do we cut down this expenses. |
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but it's now obvious that it's more dominant in the banking system and now only targets the commoners. Maybe the ban is now for the poor masses or some small companies, who knows? Regardless, the crypto masses will win, at last. I hope the fight for cryptocurrency by Rep/Senate sees the light of day.
Actually ehh just as Charles talk, the poor masses weren't the targeted audiences from day one na just say people no dey get sense. Why you go dey input crypto related words when claiming to be transacting decentralized. Na dis people wey implicate themselves wey banks closed and e no affect all their banks instead just the specific banks wey dem received those crypto related transaction in. But you see for business wey the world know say dem dey involved in the crypto business, government follow dem bumper to bumper to make sure dem go out of business resulting to many running away. Binance get sense and I no believe dem get license yet to operate for Nigeria so anytime wey you dey see anything wey relate to Nigeria for that platform na backyard door wey dem dey use. This Cash link na P2P service providers and Binance no dey work with banks directly as Charles-Tim talk. Just browse am and you go get all the answers to understand wetin dey sup. The best wey to benefit from this industry as a Nigerian na to built your own P2P service providers app and watch as companies go dey knock for ur door. |
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There have been reports on Facebook about Zugacoin turning out to be a scam crypto project.    For our best interest make we no d invest on any altcoin based on hyped. No mata who get am. I no how we Nigerians take talk about zugacoin last year or so, due na Nigeria bishop get am and promise sae em go make every Nigerian youth rich. Una don see where em land? Scam project. Firstly rearrange your pictures so your thread go look appealing to read. I understand say many of us here no care how the images be but time go come wey senior man go put eye for this board and you fit miss opportunity to dey bless because of how you arranging your thread. Always reduced your image size especially when posting multiple images so e no go disorganized your thread. As for the mata on ground, no be today wey zugacoin scam was exposed, I still dey wonder how dem still dey get patronage abi na their church members him dey scam on a steady. This coin just dey like TBC wey launched that year wey you fit buy but can't sell or whenever you want to sell, it must be at a loss. Make we dey comot hand now first for anything Nigerian built as greediness dey make our projects no dey go far. Everybody wan cashout and without putting much effort into building first. See as dem asian first built and now dem dey cashout steady, same thing with other continental projects but our own na straight to cashout. Oya see Wakadan INu wey we think say dem go get building plans for the future but that one too dun cast finish as the developers just dey steadily cashout from the project instead of them to built. Avoid any project Nigerian based at the moment especially all those wey Nigerian influencers dey put their hand ontop the promotion. |
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 Hectorians! At the beginning of the month OLA made some changes to the reward protocol of the rainmaker, this was to ensure everyone would receive the right number of rewards because of the slower block time. In the current month the block time on the blockchain has been more inconsistent than expected, meaning that some of the blocks would complete at a faster rate compared to others. This resulted in the the rainmaker running out of rewards sooner than we scheduled and expected. During the rainmaker period we’ve seen a slight increase in users and assets being lent and borrowed on Hector Institute. However this has not brought us the expected adoption or use resulting in lower than projected revenue, as such we have decided not to continue with the rainmaker incentives after this trial period. In the background we’re busy with further in-depth research on various lending and borrowing protocols to see which options could be more profitable for Hector Network to use in a lending and borrowing protocol. In the first weeks of the new year, we will get into meetings with partners to see if they are interested in partnering with us to further develop the Institute into a protocol that can be competitive and bring in more revenue than the current protocol offering. Much love from Hector Network! |
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 Hectorians, have you voted? With your FNFT you can vote for your favourite lock farms and influence the percentage of rewards to the farms you vote on. All the votes collected in one period will greatly affect the reward percentage in the next period, so, before the "Next Reward Distribution" countdown timer expires (visible on the voting page), vote for your farm and influence your rewards. Vote here 👉 https://app.hector.network/voting |
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To a common man na still the traditional bank be the safest place to keep their money. A common man wouldn’t think or diversify his means of savings all because of fear of losing everything to a scammer.
Abeg wetin concern oga for wetin dey happen for gate, na Musa get that area. All this one una dey talk no concern common man unless na mumu no know wetin dey sup allow person dey use him bank dey run transaction wey him no know about, na the only way wey common man go dey implicated for this matter if not nothing concern them. This fit be accounts wey dey Into forex or crypto, wey the government just dey find way to frustrate but make we wait for the full gist I believe any body wey dey scam no go fall mugu dey use him own personal accounts so all this account fit be people wey no know wetin dey happen for their account or strategic attack on those the government accused of causing dollars to be high and Naira losing value which are crypto and forex traders. Nothing our government dey even do they dey straight forward. |
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PS: Make una no vex about the picture arrangement I never sabi how to put am next to each other  You fit suggest am to me. No issue that's why we needed a board like this as e help you learn some kind things make you no go outside they look like novice when you get better rank wey be say you supposed dun sabi some kind things by that rank. On way to learn for this forum na to quote wetin person do and look how him take do am. You fit use table run this matter or just reduced the size and keep the images close to each other. For the matter, personally I no understand why platforms dey request for our BVN when dem know say na very sensitive information be dat and dem dey store am for centralized platforms wey dem fit hack. I like this new innovation as e go help reduce some kind thief wey dey happen when people wey understand how to use ur BVN get am. Or better still make dem pass better law wey no go require financial platforms to dey request for our BVN, make dem just find another way to dey verify our information. |
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Is it that Nigeria as a country could not build new functional refineries from the scratch, let alone not have the capacity to revitalize the old ones? This always baffles me, and I hope God will deliver us one day.
One problem Nigeria get as a country na we no sabi maintenance, the building no be problem but how maintenance go be and the major reason for this na because we no get continuous government. Every government wan create their own legacy wey go help them contest for the next election so instead of focusing on maintaining wat we already have, dem go abandon am go build their own wey we fit no even need. Oya see our teaching hospitals them and other government buildings wey dey available, na so so unkempt wey all of them dey now if them build this refinery who go look after am. Personally I think the government should privatized the whole refining l industry make companies come in come make things easier and make dem pass law wey go prevent demselves or relatives to get involvement (but dem no go gree). The government is too corrupt to be incharge of the refinery instead dem fit they regulate am but make dem allow private industry take charge to see how the thing go play out. |
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Arsenal next four fixtures are as follow
• 31/12/2022 15: 00 Brighton vs Arsenal
• 02/01/2023 15: 00 Arsenal vs Newcastle United
• 14/01/2023 15:00 Tottenham Hotspur vs Arsenal
• 21/01/2023 15:00 Arsenal vs Manchester United
If Arsenal still top the table after the playing the above round of matches, then I think they should be considered as one of the EPL title contender this season,
There's one trait about arsenal that most top 6 teams don't have which is winning winnable games. Chelsea & Manchester city might lose against smaller teams and win big teams while Arsenal don't lose against smaller teams and this season teams like Brighton, Newcastle and Tottenham are smaller teams compared to how dominate the arsenal squad has been this season. The only game I think would be difficult for them to win but that doesn't mean they won't win it is the game against Manchester united. Manchester united are looking very fast since they got rid of Ronaldo that was slowing down their attack and will be a difficult game for Arsenal but considering the momentum will be on their side after winning other games, I predict them winning Manchester United. People have to start coming with terms that Arsenal are strong contenders of the league or will you want pep Guardiola to win a treble and destroyed the whole league. |
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For Manchester City, let's see if they can emulate Chelsea and Manchester United by defeating Leeds United. I can't wait for the match between the two teams.
And they did just that as the game ended with Manchester city winning 3:1 with Haaland netting twice. I think it's now fair to say Haaland has turned the premier league to a farmers league. Already his coach (Pep Guardiola) was doing that with Manchester city, winning four premier league titles in 5 years and now Haaland has come to make that five trophies in six years. Haaland has 18 goals in 15 games (premier league gams only) and things weren't this bad at Dortmund that English football pundits call farmers league. What do you guys think about our new guy David FOFANA ?
I haven't watched him play before but from what I see online regarding his stats and from the fact that he's an African, I expect him to do very well as they (Africans) do have a good record of doing very well at Chelsea, I have no doubt that he'll perform beyond expectation. One thing about players been signed to Chelsea is when they're overpriced they flop but those bought with a decent amount and much aren't expected of them, they excel. |
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Reece James contributions to the teams performance has been undeniably brilliant and having him in the starting lineup has proven to be a major boost for the team as the game changed immediately he got off the pitch. I read he will be out for at least a month, this will be really bad for the team because his presence boosts the confidence of the defense especially when they attack.
James recent injuries should be blamed on the Chelsea fitness staff that gave a go ahead for Reece James to feature in a game he wasn't fit to play in. Reece James personal fitness coach wasn't happy with the decision to rush James into playing the Bournemouth game and now he'll miss important games like the match against Manchester city (twice) and Liverpool. Those are the game his absence will be felt because we could ave easily won the last game and win the upcoming game against Nottingham Forest F.C without games. The only wish we have now is for the injury not to result to surgery as that'll means Reece James will miss the whole season and that includes the game against Dortmund in the champions league. If there won't be any surgery and he returns in one month time as speculated then by February 15th when Chelsea plays Dortmund, Reece James should be ready and fit to play that match which will give us some boosts. |
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Chelsea are reported to have made an offer for Enzo Fernandez.
It was obvious that some big teams were going to go after him especially after his World Cup performance. Chelsea's offer is said to be like 115 million pounds which is an enormous amount really. I don't know if Chelsea are really ready to pay this much for him now. But it might be real because they have made their transfers for the attacking line already as it seems. It might be time for improving the midfield now. But signing Fernandez won't be easy for them because I expect some other big teams to join the race.
Which other big teams are willing to spend money in the market as Chelsea are doing recently. The only thing that'll hinder the signing of Fernandez is Fernandez himself. Maybe he'll have other clubs as dream club to play in and that's the only thing that'll make Chelsea not to get his signature. Fernandez was very impressive with the Argentina squad but some might say he was playing beside messi but nevertheless his brilliance was showcase at the world cup. Chelsea truely needs a midfielder with his capabilities and not the flops we have currently at the club. A move from the Primeira Liga club Benfica to Chelsea (playing in the premier league) will bring about more publicity for Fernandez and that'll be a good move that he should consider. Chelsea also needs his service as we lack good midfielder in the club. We have been signing strikers without any results to show for it, midfielders will be a change that could turn the club fate all around. |
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Now, I discovered the different forums in cryptocurrency as well as this forum. Hoping to learn more about cryptocurrency and how it really works. I will not stop until I can invest in a right project and contribute a lot in this forum.
I guess you must have been well informed due to the length of the replies I'm seeing on your thread but just to add to what I believe others have said, you have to stop searching for the get rich quick scheme as they'll only fail you. If you want a project that really works then invest in Bitcoin. You still have a high chance of making 3x of you money just by Bitcoin going back to its previous all time high of over $60k+. Now if Bitcoin was to surpassed it's previous all time high and probably go to $100k+ or above as speculated by the community then you can make above 5x of your money while been assured of you not getting rug pulled or exit scam by scammers. Bitcoin still has alot of upside that you should make your investment in and exercise patience instead of chasing after newly launched project for the quick gains. |
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There are many projects asking investors to stake their tokens for APY but they collapsed later for example Midas, they offered 17% APY on USDC, the token went from 38$ to 0 and their swap feature is shut down..
You shouldn't be patronizing any service that's centralized, they only have one fate which is collapsing and this can be caused from hacks or bad choices by the founders of the project just as we saw with the founder CEO of FTX exchange (Sam Bankman-Fried). You sending coins to this platforms only means you're giving up the ownership of your coins for some APY that mightn't be worth it due to the whole market dipping in price. The example by the OP is just one of the few ones that have left many people bankrupt this season. Avoid getting deceived by this promises by the project and just invest in well established project like Bitcoin that doesn't rely on the CEO for your investment to be profitable. During the bear market, lots of projects will collapses so it's best you stay away fro patronizing any service irrespective of them been decentralized or centralized. |
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now I realize there are many things to comprehend on this topic that I can't achieve on my own.
Firstly welcome to the forum, you're in the right place, consider every criticize that come later as a means of educating you. In addition to all the above users have highlighted, I'll like to encourage you to participate more in your local baord and when you're well founded with the forum you can come back to the main board. Avoid plagiarism if you want your stay here to be long and also learn to go straight to your point. You spoke about things you can't achieve on your own and didn't mention them, it'll make more sense if you had mention them so people here can help you with resources that'll help you understand those things. We have so many well equipped members here that can help you with whatever you need irrespective of what areas they're based in. Once again welcome to the forum, keep your head down and be really interesting in learning and not be camouflaging to gain the love of the community since people here are always interested in people's that wants to learn. Goodluck on your stay. |
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Chelsea needs to be more clinical in their finishing. They played incredibly well in the first half, but because James was injured and couldn't play in the second, they played horribly. Chelsea prevailed in nearly every game James played. Chelsea seems to lose or draw a match if James is not featured in the match. If Chelsea wants to top the Premier League table, they must find a better James substitute.
This is exactly what I have been saying, Chelsea attack is relying on Reece James too much just as Liverpool once relyed on Trent but have grown passed that now. If Chelsea's want to compete for something this season then they need to change their game plan and stop replying on wingback to create chances for them. Already Reece James is now likely ruined out of the season and we need get someone with same ability as he does to hold down that right wing back. Better creative midfielders should be bought and the current ones sold because they lack creativity in them. Our strikers can't score goals because they aren't getting enough assistance or chance creation. We have changed multiple striker and the result always comes out bad which means the strikers aren't the problem instead they lack quality providers of the chances to score. |
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They also need to hasten up with the signature of Declan Rice from West Ham he is the replacement for Ngolo Kante since they're not offering him a contract extension. As per the potentials of Fofana I haven't really checked if I have i must have forgotten, bit the premier league ain't no easy league, I hope he gets the message.
What about Zakaria, he's a defensive midfielders and not over priced as Declan Rice beside, majority of English players are overated. We already have them plenty at the club and that's enough (we don't need more). It sad to me that injury has spoiled Kante career as he's now a shadow of himself. He isn't the Kante that we knew few years back and thankfully he has won almost all there's possible to win. If I were him I'll just retire instead of going to stress myself more and probably cause a long term life injury to my body. Chelsea is doing the right thing not extending his contract as he's more of a liability to the team then assets. I think Graham Potter should give Zakaria a chance instead of going to get more midfielder when we have more than enough at the club that aren't even getting enough playing time. Zakaria was decent in his last outing and if given more chance, I'm sure he'll impress both the coach and fans. |
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Dortmund - Chelsea is another interesting matchup to me.
Because I believe that this is a matchup between two close teams in strength these days. I think like this because of seeing Chelsea's inadequate performance in the recent times. However they have made a really good return by their Bournemouth game last. It was a completely one-sided game and an easy win. It was one sided until Reece James was substituted out of the field in the second half of the game, you could noticed the Bournemouth side starting advancing from the right wing since they knew James was no longer present. keep closed eye on Reece James as without him in the starting lineup in this game I doubt Chelsea can get something from it. When Reece James is injuried, Chelsea performance drops and we can see this in the games before the world cup break. Reece James is arguably Chelsea best player this season, Mason mount has been average and this has contributed to our poor form recently. I think this game is the most unpredictable match since the win can go both ways. I'm a Chelsea fans and I'll favour my club over another even when the odds are against us. I think Chelsea wins this and if Reece James was to be available for this game then we destroy them both home and away and mightn't even concede in both games. |
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Results from the games yesterday:
Both Chelsea and Manchester United managed to win their home games yesterday and will keep up the chase for Champions League places.
I don't think anyone expected anything less, this is just the first game after the break so most top side are expected to win their games. Yesterday game doesn't determine the fate of the clubs for the rest of the season. They might have been good yesterday but might play badly for the rest of the season. Chelsea didn't impressive me much as they're still missing lots of clear chances that they should've scored and sealed the game on time. Reece James fitness is also a doubt as he was substituted after having a minor injury, his presence on the field made the squad look promising and immediately he was taken off the momentum changed in favor of Bournemouth. Manchester united on the other hand played very well without Ronaldo leading the line which means he was never needed and the team would be better without him (let see where they end up this season). |
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See as your OP dey decent but the title no be am, When writing a thread, the title matters alot, see as I almost missed this discussion because the title no interest me at all. Make your title interesting so people pick interest in the discussion. If na me write this thread I for write "The high increase of insecurities in Nigeria, how do we combat this?. This kind title go already attack people into interacting with the thread to give their suggestions on how to stop the high rate of insecurities or give opinion on wetin the government for do to fight insecurities for the country. Do you think the government is doing enough to combact insecurity in the country? Back on topic, personally I think say the government no dey do enough to help the matter, seriously ehh to reduce insecurities for the country no hard but the law enforcement officers just need to do their job well and be well equipped but that's not the case and that's because this jobs are poorly funded. How police go dey use rubbish guns to go dey fight criminals wey dey with machines. The officer aren't well trained as well which is what is leading to the misused of power by the officers (attacking innocent citizens instead of tackling those they were employed to tackle). ~what will you suggest as the way forward to combating insecurity in the country? To get the answer to this, you gaz first ask wetin dey cause the insecurity in the first place and that's poverty and lack of education (enlightenment). If we fit tackle this things from the root there by cresting lots of job opportunities to the citizens you go see say crime go reduced for street and next we get educated our youth because many of us dey poorly enlightened. Wetin we think say good no be so. |
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