Happy New Year / Bloggers Party update

Happy new year! Yes, a little time has passed, a lot of stuff has happened and the year has changed since I last updated this blog. I've been involved in lots of stuff including (but not limited to) writing a major exam, the bloggers party, future awards, and several events, etc. This also marks one year of active blogging for me. Having opened this blog in Feb., 2006, I didn't start blogging actively until Jan. 20, 2007. Within the past two weeks, I've met enough bloggers to last lifetime! I've met Favored girl, Princesa, Bobby Taylor, Manda, Jaycee, The Scribe, Toni Payne, Overwhelmed Naija Babe and a few I had previously met eg, Laspapi, Comrade, Omoalagbede, Linda, etc. OK, before you guys start wondering, let me give a quick update on the Bloggers party. First I'd like to shout out to Bobby Taylor who unfortunately couldn't make it to Nigeria for the party. I'd also like to thank Twayne, who volunteered to help out in organizing (she actually did more than help!). Ok, so here's the update ...

It was the first Saturday in the new year, and the holiday feel was still in the air. Traffic was light and few people were in sight. On Saka Tinubu Street, Victoria Island existed an exquisite bar/lounge named "No 10" - rightfully after it's owner, Jay Jay Okocha. This was where the Bloggers party went down. Expected time was 5 pm but with African time in mind, the meeting time was fixed for 4 pm.

On my way to the location while trying to get there before everyone else, I had a small problem with my car. You know those small problems that take a while to fix? Well I had one of those so I branched at a mechanic in Ikoyi and finally got to the venue at about 4:30 and ... (un)expectedly, nobody was there. Not even Tope my co-organizer (although she had earlier called me to tell me she would be late) "Na wa o, thank God for African time" I thought as I sat and waited. If nobody showed up, ehnnn? Would I hang out alone?

After 10 minutes, I was starting to get bored. Suddenly the boredom faded, as four people walked in. I recognized Princesa, and she introduced Manda, Obi and a friend who's not a blogger. The arrival set things rolling. I got a call from writefreak informing me that she was outside the doors. When I went to lead her in, I met favored girl and writefreak's hubby who she talks about so much on her blog. Others started pouring in after this: Comrade, The Scribe, Unnaked, Omohemi, Jaycee, Tomi, Toochi, Fantasy Queen, Chakams and Babs were some of the bloggers who came in.

Other people in the lounge soon became conscious that there was something going on. While Princesa and Favored Girl mischievously took pictures, Tope led an "introduce yourself" session and got everyone excited. We spoke about several things, jointly and disjointly, took pictures, ordered drinks and talked about everything from blogging to the internet. I silently wondered why Fantasy Queen, Unnaked, and Omohemi were being so quiet and shy. Their blogs are far from shy now. Aren't they? Soon Tomi had to leave, then Princesa, Manda and Obi left as well. Omoalagbede came in and we received a call from Laspapi saying he was on his way. After waiting for what seemed like hours, Laspapi showed up. Out of the blues, Overwhelmed Naija Babe showed up too. Alright, so I had to leave. On our way out, we met, Simply Nuttie and two other bloggers. Talk about real African Timing! They joined the crew and brought the number of guests to 28. It was a wonderful evening of networking and fun, and I'm glad we had it.

Pictures

Aren't bloggers good looking people?

I don't really do new year resolutions, but I hope to be able to blog more often this year. I hope more old time bloggers won't leave blogsville this year - We've already lost too many. This is a shout-out to Cheetarah, Pink Satin, Baba Alaaye, Pseudo, T.Minx and all others who have resigned from blogging. You are highly missed, and I hope things are going well with you.

Many things happened last year. A significant thing being the handing over of government from a civilian president to another civilian president. I believe this is the first time we will ever experience such. Nigeria has come a long way, and so have we.

Looking back, I can say last year was better than the previous. I pray this year will be a better year for us, our homes, our families and our Country.
Welcome to 2008!
Happy new year!

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Merry Christmas + Naija Bloggers Party

This is to wish all my subscribers and readers Merry Christmas and Happy Holidays. Christmas comes but once a year, so enjoy yourself as much as you can. Be careful though, and remember "If you drink, don't drive and if you drive, don't drink!

The Naija Bloggers Party will come up on Saturday, Jan 5. The venue has not yet been fixed. I'll notify you as soon as it is fixed.

I'll leave you with this video from NSync. Merry Christmas! Happy Holidays!

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Christmas Traffic

Christmas time is here again, and so is Christmas Traffic. How such an unpleasant thing came to be associated with such a pleasant thing baffles me, however if you live in Lagos, you'll agree that Christmas is synonymous with traffic. Nigerians in the diaspora return home from all over the world with a majority of them coming to Lagos, and holiday makers and shoppers flood to the markets and malls in search of the perfect Christmas gift. It all leads to increased movement and a corresponding increase in traffic.

A notorious road for traffic jams is Ikorodu road, one of the busiest roads in Lagos Mainland. The government has not helped matters in any way. First a full lane was cordoned off the 3 lane road for the BRT project leaving motorists to jostle for the insufficient two lanes. Now after over a year, the BRT project is far from complete. To make matters worse, the service lane is presently being demolished due to an ongoing pipe laying project reducing the capacity to 1 lane instead of 2. Thus the present capacity of Ikorodu road has been reduced from 5 lanes to 3 lanes, which has effectively multiplied the time spent on this road by 3, 4, 5 up to 10. How else will you explain a 10 minute journey from Ikeja to Ilupeju taking 120 minutes? Amidst the hold up, you'll see an occasional heated argument between 2 vehicle owners that have run into each other with their vehicles constituting another bottle neck. If one of the vehicles is commercial, it'll only make matters worse. You'll also spot the occasional car (Usually a Mercedes Benz) on the side of the road steaming from over heat with the driver frantically trying to fan, add water and stay calm all at the same time. You'll also see the street hawkers trying their best to sell all kinds of wares as they maneuver their ways deftly between the car. Finally you'll unmistakably notice the angry faces of the drivers who have no idea how long they'll be stuck in the traffic and who also know they're powerless to do anything about it.

I personally see no reason why two traffic-affecting projects should be executed side by side, what with the Government's seeming habit of starting and not finishing. Why would the pipe laying project start when the BRT project is far from finished and for the most part seemingly abandoned? Who does such thinking for the Government? Someone is definitely not worth his salt. Now that Christmas shopping has not even started for most people, and most of the travelers are yet to arrive, I wonder what will happen 3 days before Christmas. I'm already contemplating on leaving my car at home and resorting to more subtle means of transportation, eg Okada or I might just get myself a bicycle.

Anyway, that's enough ranting, let me move on to some good stuff. I passed under the Maryland Bridge yesterday night and I was really impressed. Street lights were full and very bright. Flowers lined the middle of the streets and everything was beautiful. I almost felt like stopping and making a picnic camp right under the street lights. Driving through Ilupeju last week, I also noticed that the roads leading to and from Coker roundabout have been tarred as well as several roads in Yaba. VI - Lekki road is also presently undergoing a major expansion which should alleviate the traffic situation in that area. Hey, good stuff is happening too! It's not just happening as fast as we would like it to be. But patience is after all a virtue, we have no choice but to remain patient. Have a traffic-free Christmas.

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Tagged - Weird things + 30 days of Thankfulness

I've never been tagged on blogsville, and I've never even expected to be tagged. However, within the last 2 weeks, I received 3 tags in quick succession from Bobby Taylor, Pamela Stitch and Aloted, welldone to you guys, putting me on the line like that. Anyway, after days of deliberating, I've decided to reply your tags.

Weird things about me

I was tagged by Bobby Taylor and Pamela Stitch. Thanks for tagging me. You set me thinking up all this stuff about myself.

1. I'm not much of a football fan. I don't run after premiership matches and I don't participate in arguments about why ManU is better than Arsenal or why Chelsea won Man City. I used to be a ManU fan but was not too much of an active fan. I watch World Cup, African Nations Cup, Olympics, but when Nigeria is out, I lose interest.

2. I'm from Ijebu Ode, Ogun State. However, I can't find my way to my hometown. I don't even know where my family house is. My Dad grew up in the North and in Lagos and he didn't have much contact with home either. In my whole life, I might have been there once or twice.

3. I hate traffic. I prefer driving for two hours on a free road to getting stuck for an hour in traffic. Some time ago, I went to drop a friend in Surulere and was to go back to Maryland. When I saw the traffic on the other side between Surulere and Jibowu, I turned right at the stadium and drove all the way to Marina, then proceeded to the 3rd Mainland Bridge, came down at Ojota and found my way to Maryland. Long journey I know, but I didn't mind since I avoided the traffic.

4. I rarely get sick. The last time I had malaria was over a year ago. The last time before then was probably 5 years ago or thereabouts. Also, I can endure the highest number of mosquito bites without any disfigure or discomfort to my skin. While others are nursing sore skin and itches due to mosquite bites, I just need to get under a cold shower and everything's back to normal.

5. I can concentrate in very noisy and rowdy places. I've once revised for an exam at a busy airport terminal where I was waiting to pick up my cousin. The exam was later in the morning and his arrival was delayed, I brought out my revision book and trust me, the jacking entered well well, and I passed well well.

6. I know too much technological stuff for my health. I can do things with my phone that people never believed can be done. Things like having an auto SMS sent to everyone who calls me (an sms answering machine), using my phone as a remote control for the TV through infrared, logging on to my laptop through my phone, etc.

7. A friend once nicknamed me Jason Bourne. This is because I can be different things to different people. It's not about me having multiple personalities. It's just about what part of me you're able to relate to.

Ok, I guess that's enough weirdness for one day!

I hereby tag Laspapi, Akin Aworan, Ore, Jaycee, Mimi, OmoAlagbede and Aloted. You guys blog too much about serious stuff (especially you Ore), you need to loosen up (like I just did) ... lol. Omodudu, you lucky say them don tag you already o, otherwise you would have been the first on this list!

Here are the rules
1) Link to the person that tagged you and post the rules on your blog
2) Share 7 random and/or weird facts about yourself
3) Tag 7 random people at the end of your post and include links to their blogs
4) Let each person know that they've been tagged by leaving a comment on their blog


30 Days of Thankfulness

I got tagged by Aloted. Thanks for tagging me. I'm first thankful for that.

I'm thankful for:

1. My Life - I'm thankful for my life because without it, I would be nothing. It's a chance to be on the earth to create a change and leave a legacy. I pray I'll achieve things that will make me remembered long after I'm gone.
2. My Family - I'm thankful for my family, for bringing me into this world and for being the first friends I ever had. The were the first examples I ever observed. The first people who taught me, brought me up and gave me a sense of belonging. They played the most major role in making me who I am today.
3. My Friends - True friends are gifts. No one deserves them. I'm thankful for all the friends I've ever made. My close friends and not-so-close ones, and even those who don't like me. You all add to the spice of life and you've all made me who I am.
4. My Country - I'm grateful for this country and would never exchange it for any other. Though the present situation leaves much to be desired, I'm confident that things are changing, and I must be a part of that change.
5. My Job - Even though at times I don't feel like leaving my home to go to work, I'm still thankful because my job is something I enjoy (unlike many people I know), and the organization I work for can be considered the best in it's field. It's a rare privilege to work for my company.
6. The Internet - Where would we be without the Internet? I can't even imagine. Kids being born today will never know there was a time in which owning a computer was considered a luxury. I'm thankful for having been a part of both worlds.
7. Blogger - I'm thankful for blogger.com and the world of blogging, for creating a perfect avenue where I can express my thoughts and opinions about issues, and have people read and tell me what they think. I'm not thankful for the addiction though.

For this, I tag Bobby Taylor (getting back at you, girl!), Ababoy, Overwhelmed, and Nneka.

I don't know the rules for this one. I think it's supposed to run for 30 days, but then again, there's always something to give thanks for, so I'm not posting any rules. You guys are free to be thankful in anyway you wish. Just make sure you are thankful.

I wish all my readers a great week ahead.

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We're ready to probe Obasanjo - EFCC

I was surprised and somewhat shocked when I saw this headline in the punch newspapers of today. Obasanjo to be probed by the EFCC? Now that's a kind of story I've not heard of in a long long time. Ex-presidents in Nigeria have always been untouchable, basking away in some remote place with enough wealth to last them for several lifetimes. Well, within the next few weeks I'll like to see the answers to the following questions.

1. Will he actually be probed?
2. If yes, will the EFCC follow due process in the probe?
3. If yes, will the EFCC "find" any evidence to prosecute him?
4. If yes, will he actually be prosecuted?

I suspect that the answer to the first question will be "Yes", and answers to the next three will be "No". Anyway, let's see how it goes. EFCC, over to you.
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Motherland Updates

President Yar'Adua presents Budget
President Yar'Adua has presented a budget of N2.4tn to the National Assembly during a joint session which he attended a few days ago. Highlights of the proposed budgets are

Security and Niger Delta - N444.6bn
Education - N210bn
Energy sector - N139.78bn
Health - N138.17bn
Agriculture and Water Resources - N121.1
Transportation - N94.4bn
Poverty reduction initiatives & programmes - N110bn
Debt service - N372.3bn
Pensions -N99.7bn

It looks like President Yar'Adua's priorities are in the interest of Nigeria's development and a heart for the common man. Our security system and the Niger Delta surely need a revamp. The education sector is of great importance if we're to reduce brain drain and Nigerians in the diaspora. The energy sector needs no comment, we all know how it is. Health is another vital sector. Our Agriculture needs to get back to where it was before the Oil Boom. We used to export cocoa, rubber, oil palm, groundnuts, etc. I wonder where all that went. Transportation needs no expatiation. We know how much valuable and resourceful time is wasted on the roads. I'll say this budget was well put together. We await the approval and most importantly, the implementation.

Hon. Bankole presents his NYSC discharge certificate
The new speaker of the house of representatives, Hon. Dimeji Bankole is a young man. At only 38, he has become the No. 4 man in the nation. However, after barely a week in office, anonymous opponents accused him of dodging the NYSC compulsory service. In a quick counter move, he silenced them by producing his certificate. You can imagine what would have happened if he had actually not undergone the NYSC service. The press would have had a field day, and the House of Reps which has endured one scandal too many would become seriously unstable.
So all you Nigerians in diaspora, make sure you go for your NYSC, in case it comes back to haunt you.
BTW, how come this reminds me of blogsville? Those anonymous opponents probably started off by leaving anonymous comments on blogs. Hmmm ... some things never change ... lol.

New Blogger on the block
My friend "Comrade" has finally bowed to internal and external pressure and opened a blog. He writes about Nigeria and events generally. He presents his articles with a hilarious tint but his points hit home. His blog can be accessed here.

Laspapi, Omoalagbede, Ore
I was at the Lagos Book and Arts festival yesterday and met with Laspapi (playwright, poet, lawyer, dreamer, etc) for the first time. Omoalagbede was also there as well as Ore. Below is a picture of Laspapi, OmoAlagbede and Myself. It was dark though, but I kinda like the effect. Omoalagbede's face is not too clear, so I'm not breaking his anonymity.

L-R: LASPAPI, TAYO ODUKOYA, OMOALAGBEDE

I guess that's enough for an update. Wish you all a fulfilling week ahead.

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From Nigeria to Ghana by Bus

Time: 0900hrs
Location: National Stadium, Surulere, Lagos
Mode of transportation: Bus
ETA: 2000hrs

I was excited and thrilled. Having never stepped out of Nigeria in my entire life, I had every reason to be. I had already met a few friends and we had discussed how we were going to enjoy the scenery, have fun at the borders and marvel about being in 4 different countries all within a day. Unfortunately for us, we were about to go through some shocking experiences which made me conclude that most of the problems we have in Nigeria are caused by Nigerians themselves. I’ll start the story from the departure point.

We boarded the bus at Surulere under the bridge opposite the National Stadium. When we were ready to move, the first of the problems came up. Area Boys, (a popular menace in Lagos, Nigeria) held us hostage and refused to let the bus move. Why? The bus had just loaded in their territory and being the territorial terrorists guardians, they were entitled to territorial fees! Talk about Robin Hood and the Sherwood Forest, except this time it was not for a common good! Fortunately though, we were bailed out by some mobile policemen not too far from the area. A minor setback, I thought ... little did I know.

The next experience was at the Seme Border. Some curious okada-like tricycles were riding past and a friend of mine (Gbolade) brought out his camera and took a picture. Suddenly, Customs officials appeared in the bus as if from nowhere and started shouting furiously, "Who is that?", "Bring that camera here", "Move outside" and other such phrases associated with the military. His camera was confiscated and he was taken away for some brief "questioning", during which his memory card was explored and the images deleted. I thought to myself, "OK, even if there's a law against taking pictures at borders, and yes someone broke that law, why should you talk to him like a kid, snatch his camera and march him outside like some criminal without exhibiting one iota of professionalism?" I realised that that was just the typical Naija definition of Law enforcement which we're supposed to be used to.

The next experience was when a friend and I stepped out of the bus in search of a toilet or secluded area where we could do the No 1. Finding no convenient place, I left my friend and turned back, when suddenly, some rough looking fellow approached me and said, "Officer dey call you". I looked at the "Officer", and behold, I've never seen a more shabbily dressed officer. This "officer" guy was in ragged jeans and a dirty T-shirt. Thinking to myself, "This guy think say them born me yesterday", I said to him "Which officer? Wey im uniform? ... Tell am make he come meet me for inside my bus". Nonsense and Concorbility. However, a fellow traveller was not so lucky. He obeyed the "officers" and they told him to declare the currency in his possesion. He did and after their "inspection", N500 had disappeared. Now what do you call that? Theft, extortion, or what?

We spent the next 4 hours at the border waiting for our passports to be stamped for exit from Nigeria. 4 hours in the hot sun in a bus with the engine and AC switched off is no joke in any way. During this time, the frequent travellers amongst us (apparently identified through the VISAs on their passports) were invited for a special session of silly questioning like "What did you go to do in France?" , "Who did you stay with in London" etc. all this while, I noticed Okadas crossing the borders freely with passengers without any such thing as a security check. All they needed to do was drop an undisclosed amount of money with the guards at the gates. Eventually, we were stamped out of Nigeria and surprisingly we were stamped into Benin Republic in under 30 minutes. We crossed the border and drove into Cotonou, and lo and behold ... it was like heaven ... compared to where we were coming from.

Cotonou is a beautiful city. During our drive through, we did not step into a single pot hole in the roads, neither did we pass through any undulating patch. The street lights were all complete and shone brightly. There were no traffic jam and we soon got to the Benin/Togo border. In about 20 minutess we were in Togo. I then thought to myself, "Have we just crossed a border?". It took us just 20 minutes and I couldn't believe it. We crossed a border in a strange land in a fraction of the time it took to cross our own border. Did those people trust us more than our Nigerian brothers did? We got to the Ghana/Togo border and it was the same thing. Within 45 minutes we had gone through. The Ghanian officials were very polite. A soldier came into the bus to look through the bus. He was very well mannered, friendly and looked quite decent and neat. He soon became a subject of discussion on the bus. On comparison with our recollections of Nigerian soldiers, he stood miles apart.

At the Ghanaian border we were treated like invited guests and tourists. At the Nigerian Border, we were treated like spies and criminals ... without any reason. At the Ghanaian border, we were people to be reckoned with. At the Nigerian border, we were just another number of people, opportunities for the Nigerian officials to make money. I used to think that the whole of Africa was like Nigeria, but like the popular yoruba adage, I had to visit another farm to know that my father's farm wasn't the biggest. Nigerians really do cause problems for Nigerians.

The trip opened my eyes to 3 problems that are prevalent, and need to be addressed ASAP.

1. Autocracy. The "Do as I say, because I say so" syndrome exhibited by everyone with any measure of authority.
2. Corruption. In many places, the officials are not just corrupt, corruption has become official.
3. Crime. Starting with such little things as swindling innocent people of little sums of money, it soon blows out if not arrested.

I know I promised not to write any bad thing about Nigeria, but I had to put this up, so we'll know exactly what we're up against. We are the cause of our own problems, and by the Grace of God, we shall be the solution. God Bless Nigeria.

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Back from AWOL!

Yes o! I'm back finally from AWOL. I've been away for the past seven days to London Ghana to see the queen! OK, seriously though, I was selected as one of 101 young African leaders to attend the 5th African Business Leaders Forum in Ghana. Internet access and free time were almost a luxury and I rarely checked my blog talk less of updating. For me, it was more than a life time experience. I met and interacted with more "Big Men" than I have ever seen in my whole life. CEOs, Company Executives, Directors, Politicians, the Governor of Ogun State, several commisioners in Ogun State, Dr Fayemi (to-be Governor of Ekiti State) and many more. What more could one ask for?

I also networked with fellow delegates and I realized that young Africans have so much potential locked within them. There were times I felt I did not deserve being selected among the 101. These young people are consultants, facilitators, entrepreneurs, writers, motivational speakers, national award winners, etc with lots of achievements trailing them. Now, I'm all the more convinced that Africa has a great future and that this future is in the hands of young people like you and I. It's time we took a stand, it's time we spoke up, it's time we fought back in whatever way we can. Our leaders have stolen our past, our present and some are now trying to steal our future. We need to reclaim that future and then create a better future for our kids. I shall be updating soon with events and lessons I took away from the conference and the journey. I know for sure that something great is about to happen ... you and I shall be a part of it.

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Female Artists on the Rise

Within the last few months, female artists have been on the rise in the Naija music industry, an industry pre-dominated by males. Performers such as Weird MC, Sasha, Bouqui, Ashionye have kept their own against their male counterparts and new artists are gathering the courage to enter the limelight. My favourite female artists right now are Asa and TY Bello.

Bukola Elemide A.K.A Asa is a multi-talented female musician and artist. Her name is the yoruba translation of "Hawk". Seeing her for the first time, one might be tempted to write her off as a quiet nerdy type and underestimate her abilites, but just like the Hawk, no one sees her coming. She recently did a song "Fire on the mountain", which is currently gaining lots of airplay in Nigeria, France and all over the world. With great vocal abilities which remind you of India Arie and Lauryn Hill, she passes across a message of awakening. The song is available below.


TY Bello is not someone whom many people can forget in a hurry. She was a member of the group "Kush" which comprised such talents as Dapo Torimiro, Lara Bajomo (now Lara George), Emem and herself. After nearly 2 years in the studio, she's now out with her first solo album titled "Green Land". With a strong Alto voice, she wove her lyrics and notes expertly. The title song "The land is green" immediately leapt out of the album and started getting massive airplay. She also recorded a video which caught on with viewers nationally and internationally. View it below.


If you're feeling these songs as much as I am, I'll implore you to go get those albums. Buy the original CDs so you can encourage these ladies. Both albums can be got from Nu Metro Media stores at Silverbird Galleria, V.I. or The Palms Shopping Mall, Lekki.

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Math ... And The Lagos Survivor

A survivor in Lagos must understand simple, complex and "Naija" mathematics, and he must learn how to use them all to his advantage. If you disagree, how else would you explain these scenarios?

I
Rent for a standard shop in Lagos would cost anything from N10000 - N50000 per month and a would-be shopkeeper is required to pay 12-24 months in advance depending on the location. On the other hand, a used Volkswagen Beetle costs N25000 - N40000, is portable, and can carry your market to where the audience is ... and that's how I came across this mobile and portable Audio CD shop on wheels complete with an amplifier, a speaker, showglass and sales girls! Unfortunately, I couldn't take too many pictures before the "sales manager" became suspicious. Now that's a survivor ... to say the least, and he knows his Naija math and how to manipulate it to his advantage!

II
This picture was sent in by a friend ... a fellow freelance (cellphone) photographer. It brought back memories of those arithmetic questions in primary school. Questions like "If it costs N40 to carry 1 tire from point A to point B, how much will it cost to carry 4 tires from point A to point B?" Alas in Okada Arithmetic (a subset of Naija Math), the answer is neither N160 or N40. This young man in the picture below will pay something like N60 / N80 to convey those 4 tires. The price will also depend on his haggling power. Now look what he's gained. He gets his merchandise to his location faster and will have saved N100 - N120, money which will make a lot of sense in Iya Basira's buka where he'll have his lunch. Another survivor, another mathematician.



III
Typical rainy afternoon in Lagos. Mr Someone was very angry. Whenever it rains, the traffic in Lagos increases exponentially. He would use up a lot of time and fuel for his truck in transporting his cassava from his farm in Mowe to his house in Iyana Ipaja. He usually did two trips on an average day, but the rains and the unavoidable subsequent traffic jams would not allow for two trips. So what does he do? He decided to do some math. He would transport two truck loads of cassava in exactly the same time and using the same amount of resources it would take to transport one load. Well, I happened to be driving behind him in the rain, and I'm sure his truck did not share his thoughts. The bumpers were almost touching the road ... but again, Mr Someone was true to his words ... and took 2 loads of cassava to Lagos in one trip. After all, it's not his fault that there's traffic, is it?







If cars could talk ... I wonder what this one would say.

On this note, I'd like to announce my return to Blogsville. I'm sorry for the long absence, it was due to circumstances beyond my control (seriously). Thank you for staying tuned, and waiting for me. I return a survivor and I know my math. Have a nice week.

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A Tale of Two Zeros ... and Charles Soludo

A few days ago Prof. Charles Soludo, the governor of the Central Bank of Nigeria (CBN) gave a speech titled "The strategic agenda for the Naira" which emphasized the re-denomination of the Naira currency. Quoting from his speech,

The restructuring, called currency re-denomination in financial parlance, will see the current N1,000 notes become N10; N500 becomes N5 and N100 becomes N1.

With the policy, all naira assets and contracts will be re-denominated from August 1, 2008.

Any product that currently sells for N1,000 will expectedly be sold for N10 while a contractor who is owed N1 million by the Federal Government will be paid N10,000.

This speech has immediately raised a lot of issues and topics for discussion by Nigerians both at home and in diaspora. Many people want to know what the implications will be for them. As usual, many nigerians have different misconceptions of the whole exercise. Some want to know how it will affect foreign exchange and what will happen to those who store money in USD and GBP.

What's actually happening is that the Naira will lose 2 Zeros. A dollar will be exchanged for N1.25 as against N125. Consequently all prices would be adjusted appropriately. N100 will become equal to N1. An employee with an annual salary of N2,000,000 will have his salary readjusted to N20,000 ... and Millionaires will become thousand-naires. Now before you get worried, it helps to know that the prices of goods and services will also be adjusted appropriately. This means that a book that presently costs N2000 will be adjusted to N20. A bottle of coke which goes for N40 will be adjusted to 40k. Thus if I had N400 to buy bottles of coke before the re denomination, it'll fetch me 10 bottles. After the re denomination, my N400 will become N4 but a bottle of coke will also become cost 40k, thus I'll still be able to buy 10 bottles. All that's happening in essence is just the elimination of 2 zeros. In simpler terms, bus fare from Maryland to Ojuelegba will become 50k, lunch at Mr Biggs will become N5, toll gate fee at airport road will become N1, a stick of Suya from Mallam Aminu will become N1 and a movie at Silverbird Cinemas will beome N10. Interesting, isn't it?

One thing the CBN declined to mention - will the present Naira notes be changed? I don't see how this project will be feasible if they are not. I can hoard N20 notes and bring them out after the valuation knowing that they'll be worth 100 times more than what they're worth now. Also some major challenges I foresee in project are -

• Achievement of a smooth transition within a day.
• Synchronization of pending transactions carried over from before the re-denomination.
• Withdrawal of old notes in circulation and distribution of new notes.
• Public Misconception leading to excessive activity in the Money markets invariably leading to Heavy Purchase or Liquidation of shares, Foreign Exchange, etc.
• Enlightenment of the semi-literate category of people - the market woman, the shoe maker, the mechanic, etc.
  

Also, some sellers will not adjust their prices accordingly but will approximate and round up to favor themselves. Buyers won't know, because nobody will be cramming the prices before the re-denomination.

Now let's ask ourselves a vital question. Will this re denomination be worth it? Nigeria will once again expend a lot of funds and resources on logistics and planning of this project. The only advantage I can see is just a beautification of the currency. The Naira will look better on the international scene, but the value will remain the same. Also the factors which were responsible for the initial decline of the Naira are still much available and living in our midst. Why not use all these resources to arrest the decline and work on making the Naira appreciate in value? Is the re-denomination really the best option for the Federal Government and the CBN?

I have great respect for Charles Soludo and I trust he knows what he's doing. It is worth noting that the re denomination exercise has been carried out with success in several countries including Ghana, Brazil, etc. I'll be watching carefully so I can position myself favorably. Like a friend of mine said yesterday, "When the re-denomination is carried out, I'd rather be a seller than a buyer". I agree with him to a large extent ... but only time will tell.

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Unavailable? Please Try Again Later!

The number you are calling is currently unavailable ... Please try again later.

Famous words from Telecomms operators worldwide! I wonder how you feel when you hear those words while trying to make an important call. Frustrating, aren't they? OK, I know lots of people have been feeling the same way for the past few weeks when they visit my blog ... it's almost like "The blog you're visiting is currently unavailable, Please try again later". I'm sorry about this. I've been real busy. Sometimes, I wish God could add some more hours into each day (I borrowed that quote from my friend Aaadee). Well, unfortunately, since that can't happen, plans are on ground to stretch the hours in each day, and make them longer. I shall soon be back ... fully Reloaded!

I'd also like to use this opportunity to tell everyone that whatever you need is always available. There is no such thing as unavailable. If you make that call, and you get the unavailable message, don't give up. Continue trying and one day your call will go through. Don't give up until you have tried 1001 times, and then start again. All great revolutionists never gave up in their quest. Nobody remembers "The Wrong Brothers" who almost invented the plane but gave up due to some hindrances (which we don't know about). However, we all know "The Wright Brothers", who despite all odds, didn't give up. The "Wrong Brothers" gave up, and thus gave the Wright Brothers the opportunity to invent the plane. If the Wright brothers had also given up, someone else would have done it. If you give up, someone else will do it. Why waste that opportunity?

I dedicate this post to Omohemi, Saint T, Vera, Dolly and every other blogger who harassed me to update, abeg, make una no vex! I shall be updating soon, and immediately I do, I shall be doing my blog rounds, and leaving comments. It's a wonder the amount of blogs I have on my feeds now, I wonder how I'm able to go through them all ... I guess I'll write a post about that some day. Now I'm off, to get some interesting news and return my blog back to it's glory, and lastly, never accept the Unavailable Message, make sure you "Please Try Again Later". Remember that!

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Umbrella Remix - Ebutte Meta

Time was COB on a Friday Evening. I was in my car driving to the island for a meet. Listening to my radio and tuned in to 96.9 Cool FM, Olisa was trying his best to keep me in the TGIF mood. After some nice Jams, he slipped in Rihanna's Umbrella. Now I must say I was already getting tired of that song, I had heard it so many times and I easily get tired of songs. Anyway, I decided to listen. When it was about to end and the soundtrack was fading out, Olisa started playing it again. I was like "What wrong with this guy?" and was about changing the station when I heard the rap ... "Nah, that's no Jay Z's rap! Maybe it's a remix", I thought, I listened further when suddenly, I started hearing familiar places ... "Abuja, Calabar, Anambra ... Niger, and finally Ebute Meta, meta, meta, eh, eh, eh" all sang by a male singer. Man, was I amused? Even though I had got to my destination, I waited in my car and listened until it ended. After that, I was all thoughts. That song sounded more interesting than the original version - maybe because I'm from Naija myself.

I did some investigation and I discovered Banky. Banky is a young Nigerian male vocalist who recently won the Grand Prize, R&B category of the John Lennon Songwriting Contest with his song "My Regret" (here). He and a group of guys were just having fun in the studios and decided to record a Naija version of Rihanna's Umbrella. Not a commercial thing, but it was good. I searched all over for that song and finally found it on youtube. I've posted it here. Listen and let me know your thoughts.

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Open Lecture to Leaders - The National Pledge

I pledge to Nigeria my country

Pledge [verb] - promise solemnly or agree to do or refrain from doing something
Thou shall keep this promise which thou makest, no matter the opposition, no matter how much money thou art offered, or how much power thou seeks to acquire.

To be faithful, loyal and honest
Faithful [adjective] - steady in allegiance or affection; loyal; constant:
Loyal [adjective] - faithful to one's sovereign, government, or state:
Thou shall not backstab, thou shal not witchhunt Atiku or Pedro, thou shall not betray Obasanjo or Tinubu, thou must all work together for thy nations good.
Honest [adjective] - honorable in principles, intentions, and actions; upright and fair:
Thou shall be honest in all thy dealings, thou shall allocate contracts honestly, thou shall disburse funds in an honest manner

To serve Nigeria with all my strength
Serve [verb] - to act as a servant
Thou shall first be a servant before thou shall be considered a leader. Thou shall lead by example.
Strength [noun] - physical energy or intensity
Thou shall use all within thy power to make thy country a better place for the rich, poor and the middle class (even though middle class is almost non-existent)

To defend her unity
Defend [verb] - to ward off attack from; guard against assault or injury
Thou should understand that the greatest attack comes from the within, the treasury looters, "chop and go" politicians, ... thou shalt defend thy country from them all

And uphold her honor and glory
Uphold [verb] - to support or defend, as against opposition or criticism:
Thou shall make this thy greatest task, for thy Country Nigeria has very little honor and glory. Thou shall use all avenues to increase her honor and glory, and thou shall uphold them.

So help me God
Thou shalt include thy God in thy decisions. Thou shall fear God for it was he who put thee in thy position.

Thou shall always remember these laws and put them into practice. Nigeria has a great future.

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Should I Invest In HYIPs?

This article is part of a Finance series (here) I started a while ago. Although it's not sequential with the rest, it has become necessary that I share some things about this subject. Within the past few months I've received dozens of phone calls, some from friends I haven't heard from in a long while and one from someone I have never even met asking for my advice and opinion. Lots of people seem to think I'm an authority in this regard. I'll not confirm that notion, but I'll not deny it either. Hope you gain some things as you read, and you'll invest wiser and safer.

Today, the average Nigerian has become investment savvy. He is no longer satisfied with keeping his money in the banks, and he has realized the futility of sticking to a monthly salary. A number have gone ahead to train themselves in operating such investment vehicles as Stocks, Mutual Funds, Real Estate and Foreign Exchange. Everybody wants to learn how to invest, and everybody wants to invest. So some professional money managers took advantage of the situation, and created several investment programs, collecting money from investors and paying them returns on their investment. Very soon, lots of these investment programs sprung up, both genuine and non-genuine, and as always, it is difficult to distinguish the genuine ones from the non-genuine. Some of these programs have been around for years, some are months old and some are still in the initiation process. They are commonly known as HYIPs (High Yield Investment Programs), and their history goes a long way.

Today, a typical HYIP will promise you high returns on your investments with them - much higher than you'll get if you save in a bank. They all claim to invest your money in a number of things ranging from Oil and Gas, Foreign Exchange, Gold, Precious Metals and Stocks. They have no publicly available "Balance Sheet" or "Earnings Report" and so no one knows exactly how true their claim is. The important thing to most people is that they deliver the returns promised, at least to a large extent, and so everyone is happy.

The HYIPs on ground presently can be categorised into three. Those who promise monthly returns on investment eg. Nospetco, WealthZone, UpHenry, etc; those who promise a one time payment after several operational weeks Eg, Treasure Line, Wealth Solution, etc; and those who promise increasing returns every operational week for a particular number of operational weeks. Eg Pennywise, Cash Seed, etc. Operational weeks vary from 10 working days to 20 and some might even last longer, and pay-off varies by percentage. I won't go into the nitty-gritty of the operations of these HYIPs. A few bloggers have already written extensive posts and you can easily get any information you need. If however you need more information, you can contact me directly and I'll point you in some right directions.

I was prompted to write this article by an event which happened some time ago. The EFCC had sent out a notice to all banks which are used by HYIPs to put a stop order on their accounts, while they carried out investigations into the operations of these HYIPs. Many people all over the country were nervous and hearts were in mouths for a few days. A friend of mine could not eat well because he had borrowed most of the money he invested into these HYIPs. My phone rang dozens of times with people asking, "How Far?, has EFCC cleared .... (and they would mention the name of one of the HYIPs)?". Fortunately, the accounts were reverted back to status quo within a few days and many people could breathe freely again. But the damage had been done. People began to doubt. A lot of my friends who were affected swore never again to invest in these HYIPs to save themselves the agony and anguish they had to go through. I have therefore put together "The Rules of HYIP Investment". If you must invest in HYIPs, follow these rules and your risk will be reduced to a minimum.

1. Never invest more than you can afford to lose.
   Whatever you choose to invest, consider what will happen if you lose it. If losing it will make you catch hypertension or something similar, then reduce it to something you won't miss if you lose out. This is the most important rule.
2. Get in (and out) early.
   For the HYIPs which promise the highest of returns, the longer the HYIP has been around, the greater the probability that they'll soon go down. Don't waste time making your decisions and waiting to see if people are actually receiving returns. If you're going in, go in early, collect your proceeds and get out quickly.
3. Diversify.
   Spread your investments over various HYIPs. That way, if one goes down and one performs, the returns easily cover your losses. Don't put all your money into one HYIP no matter how attractive it seems. Think of what might happen if the HYIP suddenly goes down.
   
4. Secure your returns.
   Don't reinvest your returns into the same HYIP. Transfer your returns immediately into more stable investments like Stocks, Mutual Funds and Real Estate. That way you're covered if something happens collectively to all the HYIPs.
   

Also note: The higher the returns, the higher the risk. The shorter the investment term, the higher the risk. So, if you're diversifying, balance your investment across both risky and less risky HYIPs. Don't diversify by spreading all your money across the very risky HYIPs.

I do not guarantee that you won't lose. Investing in HYIPs will always be risky. There is no way to fully eliminate the risk. No matter how stable a HYIP seems, there is still an element of risk. If you are averse to taking risks, then these HYIPs are not for you. Invest in safer and more secure investments which will allow you to sleep at night, and whatever happens don't let sentiments determine your investments. Better to be safe than sorry. However, if you're the risk taking type, with some money that you won't miss if you lose, then by all means you can go ahead and invest. You might be lucky, many have been.

Wishing you luck in your continued quest for Financial Freedom.

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