I am out for a while

Starting today, posting to my blog may remain stagnant as I intend to travel away from my base. If however I have access to internet, I shall surely update the blog. I will be proceeding on a one week course sponsored by my employer and will proceed on another 2 weeks leave thereafter. I am in for a long absence if things go on as planned.
Also, for the first time, I intend to undertake a journey by driving myself, one actually needs such adventure in life. You need to see the way I am preparing, it is as if I am going out of the country. Please wish me safe journey. Peace out!!!!!!!

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More Questions about the CBN New Naira Reforms

The Central Bank of Nigeria announced major currency reforms whereby the naira is being transformed by dropping two zeros or moving two decimal points to the left which is also aimed at reducing the quantum of money in circulation and preserve the value of the naira. Under the new reforms, 100 naira now becomes one naira. See full story

Now that is a preamble, the real thing is what happens if the regime take effect from August next year? There had been some opinions on what the regime will look like and there had been some insight into it as could be seen from this article in the Thisday

Now having said all this, there are still many questions, some rhetorical in nature since we both know what will happen, but I tell you, there are some that can best be answered when the regime actually take effect. But first, the matters arising.

No doubt, there would be a lot of coin carriage as against the present regime where we deal so much in paper money. Most of the daily transactions of buying and selling will be done through coins. There wont be ignoring of coins change as every coins is very important now.

Vending machine will spring up all over Nigeria, mostly those selling soft drinks. Phone booth will spring up also that will require coin slot while Kalo Kalo machine will continue to reign.

Beggars will have a field day since there will be large amount of coins in circulation, this may promote street begging.

Customers would be more interested in their bank balances to the kobo since Coins would be so much involved in daily transactions of buying and sellings.

Prices of commodity would also be affected as some items that price ceilings could not be fixed minimally before would have different coins denominations to rest on. For instance, a sachet of Pure Water cannot jump from 5k to 10k, it could rise from 5k to 6k as against the present regime where it rose from 5 naira to 10 naira.

What will happen to the Phone tarrif in Nigeria? In the present regime it is 50 - 60 kobo per second, what would it change to?

What about price of fuel? would it change to 7 kobo per litre?

Would the Fulani traders who are selling Cow still understand that the Cow he used to sell for 40,000 naira is now 400 naira?

What will happened at Owanbe parties? Would the people still spray 20 naira denominations being the highest denominations but equalled to 2,000 naira of present regime?. Would 50 kobo paper money that will be introduced gained popularity in owambe parties as it used to be in those days?

Would Murtala edifice still appears on the yet to be introduced 20 naira note? Would Illiterate Yoruba people still prefer to call the 20 naira note (Muri kan?)

Would ATM machines be programmed to dispense coins?

What will happen if US also decided to decimalise its own dollar such that the present 100 dollar is now 1 dollar? Would Nigeria again decimalise its own naira?

How many Nigerians would lose their precious title of Millionnaire and Billionnaire?

I beg I don tired jare, if you know of more questions email me or better still the comments is open for your contributions.

I'm reading: More Questions about the CBN New Naira Reforms

The Killer Kerosene

Kerosene explosion has reared its ugly heads again in Nigeria. Of recent, in parts of Delta State, particularly Ughelli and Warri, kerosene explosions claimed no less than 11 lives and left a number of property destroyed. As if that was not enough, the ugly development spread to neighbouring Rivers State where at the Nigerian Railways Quarters in Port Harcourt five people lost their lives. Earlier, kerosene explosions had occured in Okoduiri in Okrika Local Government Area of Rivers State and in Borokiri area of Port Harcourt.
These explosions are mainly caused by adulterated Kerosene. In order to make higher profit, since Kerosene is more expensive than Petrol, they probably mixed the content of Kerosene with Petrol fuel. This always resulted in explosion moreso because of the presence of Petrol in the kerosene mostly when the end user are using it to fuel their Kerosene Stove or carelessly display near a naked fire with the understanding that ordinary Kerosene will not cause explosion.
It is high time the distribution of this items is regularised to avoid this ugly incidence. I had paused and ponder that this is what is obtainable from Kerosene distribution that are adulterated, the consequences of this adulterated items could only be made known because of explosion it caused, what about those who had died one way or the other through other means of adulterations viz drugs, water and of course baby food items all in the way of making quick profits. Truth is, there are lots of victims these adulterations had claimed their lives which we dont know of, since most of the people that are affected simply buried their dead without conducting autopsy to determined the cause of death.
This country Nigeria, may God continue to save us from those who wants to get rich and maximise their profits at the expense of the lives of some innocent citizens.

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At last, VP - Goodluck Jonathan declare assets - worths N295.3m

Bowing to public opinion, Vice President Goodluck Jonathan has released the details of his assets totalling N295, 304, 420. Details of the assets declared on May 30 this year before Justice Muktar N. Dodo of the Abuja High Court show that the Vice President has no foreign accounts or assets. The Senior Special Assistant to the Vice President (Media and Communications), Mr. Ima Niboro, told journalists at the Presidential Villa, Abuja, that, "this merely shows that in the affairs of man, there comes a time when even the law must take a second place, and the public mood must define our actions." To the Vice President, this is such a time, hence the choice to send you a copy of his declaration of assets for publication. There is nothing to hide, as you can very well see," he added. The total worth of Jonathan's private residences is N67, 990,000 according to the declaration, which is already with the Code of Conduct Bureau. The residences include a four- bedroom duplex in Kpansia, Yenagoa, Bayelsa State, valued at N15 million; a four-flat storey building extension of the family house in Yenagoa valued at N10 million; and a four-flat storey building. The rest are his seven bedroom village personal home at Otuoke, Ogbia Local Government Area, which was bombed days before his inauguration as Vice President, valued at N18 million and a five-bedroom personal residence in Gwarinpa, Abuja valued at N24, 990,000. Under the vehicles and household items, the Vice President declared assets of N41.8 million. They include a BMW car in Abuja valued at N15 million, generators, electronics, air conditioners, furniture, kitchen utensils and others in Kpansia, Yenagoa and Gwarimpa, Abuja valued at N26 million. The BMW car was declared as a gift while the other items were declared to have been procured from savings. Jonathan also declared vacant and undeveloped plots of his to the tune of N60.538 million. They include five undeveloped plots of land in Bayelsa State, two undeveloped plots of land in Cadastral Zone BO2 and AO6 in Abuja. He disclosed also a yearly income of N62, 072, 200. These comprise investments in stocks in 16 Nigerian blue chip companies managed by City-Code Trust & Investment Company Limited. His investments also cover four 16-seater passenger boats which he hires to companies and other agencies. The Vice President's total cash in Nigerian banks (Bank PHB, Union Bank of Nigeria Plc, UBA and others) is put at N58, 984, 123. He stated that the total income includes personal savings and income from his investments including performing stocks and hiring of the boats. Niboro said the assets declared do not include those of the Vice President's wife. This, he explained, is because "the wife of the Vice President is a public officer, being on the staff of the Bayelsa State Ministry of Education, Yenagoa. She could, on her own, still being in service, declare her assets through the laid down procedures." He added that the Vice President's children do not own assets. President Umaru Musa Yar'Adua had on June 28 released his assets declaration forms, putting his total worth at N856.64 million.
Culled from Nigerian Guardian

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HITV and its Exclusive EPL TV Rights

Ever since the exclusive TV rights to English Premiership (EPL) which saw Nigeria bundled together with Africa was unbundled last year with High Entertainment Company known as HITV winning the right for Nigeria, a lots of Nigerian heave a sigh of relief that the monopoly of Digital Satellite Television (DSTV) is eventually broken. I remembered that some people are quick to point out that it is not the broken monopoly that matters but whether there will be a continuity of enjoyment of the English Premier League as was the case with the former owner of the rights DSTV.
Truth is 3 days to the commencement of this year league, the HITV is yet to commence its much talk about satellite bouquet that will enable all parts of Nigeria to view its channel. As at the time of writing this, it is only in Lagos that their services operates and that too is on terrestrial platform, which is not 100% quality of service.
For those of us who are ardent fans of English premier League (EPL), our hope of watching the commencement of the league is dashed as news emanating from HITV office indicates that those outside Lagos might have to wait a little longer if they have to hook up with their TV channels. I bet we have to depend on the one match per week free live broadcast by Broadcasting Organisation of Nigeria and the weekly highlights.
When would a Nigerian wholly owned companies rise up to the occasion like its counterparts in Globacom? HITV Do something fast and I am tired of having to call your office to find out what is happening. You owe Nigerians and lovers of Soccer updates, and please make sure your e-mail address is working, my last mail to you to inquired about your satellite bouquet was returned.

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Down, Very Down

This is the second day in the running that nothing interests me one bit. I guess it started through the weekend, but the feeling wasn't as high at it is during the working days. A number of things could be the reasons, as one of my friend would want to agree that it could be due to old age or middle age as she put it. That reason I found very amusing because I am a lively person who knows what makes my day and go for it. But these days, they just don't interest me any more.
But what I felt could be responsible is someone that is part of me is due to sign the dotted lines in a couple of weeks. I guess losing the person to marriage life is beginning to occur to me as it is quite clear that the friend in question means a lot to me. But what can I do, I just have to let go, even though it is very painful and a very difficult thing to do, life must go on.
Now I know how it feels to let go, especially when the person concerned means a lot to you and contribute to your happiness in your life. I now know why some people are so selfish enough to do everything to frustrate their friends wedding because of what they shared together that is going down the drain. But I learn it the hard way that even though I felt the same, I am not brought up that way not to understand when to let go, and let friends move on with their life.
If you are reading this my dear friend, I want to tell the world that I cherished so much what we share together and want the world to know that I can never find another person to fill the vacuum you left in my life. You are everything to me and for ever what we share together that makes our friendship so deep in my heart will never be forgotten. As you leave the life of single for double, I can only but wish you a happy married life. I love you so much!

I'm reading: Down, Very Down

On NigComSat and NCC Imbroglio

In a publications placed by the Nigerian Communications Satellite Ltd (NigComSat) in some national dailies, it stated that they had applied for the use of certain frequencies and licences to enable them provide fixed, mobile and last mile services.
However, Engr Ernest Ndukwe the Executive Vice Chairman of Nigerian Communications Commission (NCC) disagrees with NigComSat’s position saying its request for a license is against its original plan to provide transmission infrastructure for operator. He said further that the NigComSat request is totally against NCC regulatory environment. He said when NCC initiated this process, what it understand was that the satellite solution is desirable for providing long distance transmission, and assist to take the telecoms Operators to remote locations. He wondered why NigComSat will now abandon this objective to pursue a 3G Licence to provide last mile solutions.

The truth is the Memorandum and Article of Association which NigComSat claimed clearly empower it to provide end-to-end solutions alongside satellite owner is not enough to entitled it to telecom Licence.

It is still fresh in the memory of every Nigrians with the way Ndukwe handles GSM auction which led to the emergence of MTN, Econet and Nitel and of course the imbroglio of CIL (Communications Investment Ltd) which could not meet the auctioning licence at that time. We all coult still remember the transparency of how Glo later emerged as the Second National Carrier which is also transparency. There is also the auction of 2.5Ghz frequency which NigComSat now want, which was auctioned in 2003, of all those that won the bid, it is small proportion of them that was able to deploy because the technology to deploy is very exhorbitant. The fact that some group wants the job of Ndukwe does not mean we should take the NigComSat matter as if the regulatory body is not transparent anymore. Now, if NigComSat wants the 3G Licence at all costs, what will happen to those that paid exhorbitantly to be in business? What happen to their business? That is why reason should prevailed on NigComSat to concentrate on deployment of its satellite to vendors instead of being a last mile vendor.
The argument that its services will take care of the quality of service does not hold any water, it cannot provide GSM services through its satellites, and in any case if it can, what happens to the investments of the GSM Operators majority of who are foreign investors?
The Licence issued to Mubadala is in order since they are an investment company of the Government of United Arab Emirates. Records of the company performance in telecom industry is there to be seen, they excel, and it is a welcome development that they deploy their services in Nigeria. If NigComSat wants to be like Mubadala, then it has to pay as much as what Mubadala pays to win the Unified Access Licence.
What is more, The role of government is to provide overall direction to telecommunications development and ensure policy consistency. This role does not include participating in the provision of telecom services which NigComSat is seeking.
It is even worse for NigComSat to start mudfight with NCC Executive Vice Chairman, all in the name of trying to get a telecom Licence. NigComSat is established to provide satellite services as its name implies, and its purpose in Internet services is already felt with drastic reduction in bandwidth, to me, it cannot operate as satellite service provider as well as end-to-end service provider, it should leave the job of regulatory of telecom sector to NCC which NCC is clearly charged by the policy and the law to issue licences to all operators and service providers in Nigeria. This is why NITEL/M-TEL were licenced by the NCC and the two organizations also paid in full for their GSM frequencies and other licencees just like every other operator even when they were fully owned by government.
It is therefore in view of this clear understanding of both the provisions of the Policy and the Law that government did not consider it improper for the NCC to be represented on the Board of NigComSat. It is obvious that Government clearly did not intend NigComSat to be a fixed or mobile telecommunications services provider that will be in competition with other such licencees. The NCC has a duty to ensure a level playing field for all operators in line with the Act and international best practices. Lastly, How would NigComSat feel, if government allow another company to deploy the same satellite they had in Nigeria territory and allow them to compete with them, would they not want to run to government for Cover? The same regulatory body it is now fighting with both tooth and nail.

I'm reading: On NigComSat and NCC Imbroglio

Happy Birthday - Papillo

Today is the birthday of my hero and my idol - Kanu Nwankwo. He to me must be the most highly-decorated African footballer in footballing history, with over 10 awards to boast of, including a UEFA Champions League medal, a UEFA Cup medal and two African Player of the Year awards. Between Arsenal's Double win in 2002, and Chelsea's FA Cup win in 2007, he was the only current Premiership player to have won the UEFA Champions League, UEFA Cup, Premiership, FA Cup and Olympic Gold Medal.
HAPPY BIRTHDAY!!!

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