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Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Saturday, 9 June 2012

How to open Paypal Account in Nigeria

Hi Readers,
Have you been looking for away to take your online business to the next level, but because how to receive your money is difficult so you could not, as the only option for you to get paid is by Paypal? Then the answer is here.
You know Paypal does not accept some African Countries as their believes is they are "fraudulent". An example is my own Country (Nigeria). But not yet too bad as I have a secret/way to open Paypal account even if your country is not accepted by Paypal. But it will cost you little money.
I am suppose to give out this secret/way for a huge sum of money, like N15,000 (Fifteen Thousand Naira), but i say no! It might be too high for some people. So, I decide to give it out just for N1,500 (One Thousand Five Hundred Naira) only for the first 50 people that will request for the secret.

If you are interested, pay the sum of N1,500 (One Thousand Five Hundred Naira) only, into this account:
BANK NAME:          GTBANK (GUARANTY TRUST BANK PLC.)
ACCOUNT NAME:  MEETING O. PROGRESS
ACCOUNT NO.:       0112428210
And then, Scan and Send the teller, to this email:



If you wish to contact me for any further inquiry, Email:

Tuesday, 15 May 2012

Nigeria broke; cannot pay Youth Corpers

Sources in several state governments as well as the Federal Ministry of Finance have disclosed to Sahara Reporters that Nigeria’s cash flow woes appear to be worsening. For the second month in a row, the Nigerian government was unable to meet the schedule for disbursing monthly allocations from the federation account to states.
Our sources accused President Goodluck Jonathan’s administration of depleting the country’s foreign reserves and recklessly overspending budgeted funds.
One source revealed that the Federal Ministry of Finance has paid March monthly allocations only to some states. The allocations for April and May 2012 remain unpaid. As a result of what some of the sources described as a major cash flow crisis, many civil servants and National Youth Corps members have yet to receive their April salaries or allowances.
In addition, the meeting of the Federal Accounts Allocation Committee (FAAC) has been postponed indefinitely after the secretariat said the earlier meeting scheduled for today and tomorrow was no longer feasible. SaharaReporters obtained a text message announcing the cancellation of the meeting. Sent by Philip K. Angulu, the terse message apologized to recipients for any inconveniences caused by the postponement.
SaharaReporters learnt that the Nigerian National Petroleum Corporation (NNPC) has not been able to make regular payments to the federation accounts as oil marketers and corporation are now deducting their share of profit in offshore accounts to avoid dealing with local bureaucratic bottlenecks.

A source within the Presidency described Mr. Jonathan as a confused pawn in the hands of members of his security team who manipulate him to approve huge “security votes” for the so-called fight against terrorism. “Many of the president’s security advisers just keep deceiving him into releasing more and more cash to them – and they have nothing to show for it,” said the source.

Another source in the Central Bank told SaharaReporters that fuel marketers continue to defraud Nigerians with undocumented and fraudulent claims. “As we speak, I can tell you that the government has virtually spent this year’s budget for fuel subsidies – and we are only in the middle of May,” said the source. He added, “Nigerians are calling on President Jonathan to prosecute those who committed fraud in collecting fuel subsidies in the past. They don’t know that the fraud has actually increased this year.”
One of our sources accused Christopher Kolade, the chairman of the Subsidy Reinvestment and Empowerment (SURE) Committee, of deliberately misleading Nigerians when he claimed that N60 billion has been saved for the implementation of the phantom palliative program put in place by Mr. Jonathan’s government to pacify Nigerians who thronged the streets of Nigerian and foreign cities in January to protest the removal of fuel subsidy. “Dr. Kolade knows that no such fund exists,” said the source, a ranking official in the federal government.

Friday, 23 March 2012

Fed Govt issues tender for crude oil sale

By
FG 
 FG

The Federal Government has issued invitation for bids from companies that meet the required criteria to lift its crude oil beginning from June 1, 2012 to May 31, 2013.
Also, Nigeria’s oil export is expected to rise to about 2.1 million barrels per day (bpd) in May, Reuters quoted oil trader as saying, citing provisional loading programmes, a level, which according to Reuters’ data is a nine-month high.
In a statement issued by the Nigerian National Petroleum Corporation (NNPC), which oversees activities of the oil and gas sector for the government, the companies that would apply must meet some standards required by the corporation.
The NNPC said such companies must be bona fide end-users that own refineries and retail outlets. The bidding companies also show details of their facilities, markets and volume of crude oil processed over the last three years, which must be attached to their applications.
NNPC also noted that if the bidding company is well established and globally recognised large volume trader, the company must provide evidence of its global network, its activities and volumes of crude handled in the last three years. But for indigenous Nigerian companies engaged in Nigerian oil and gas business, such companies must attach evidence of registration.
Other companies that are qualified to apply include those that have been involved in oil and gas business for not less than 10 years and such companies must show evidence of 10 years operation.
NNPC also said that all categories of applicants (companies) must have a minimum annual turnover of $600 million and net worth of not less than $300 million and must attach three years audited accounts. Besides, applicants would be required to pay $5 million as deposit for the first cargo to be lifted. Besides, payment for all cargoes shall be on the basis of confirmed irrevocable Letter of Credit (LC) from approved local and international banks, the corporation added.
The NNPC explained that short-listing of applicants for consideration of crude oil term contract allocation will be contingent upon successful independent due diligence reports.
On the reason for requiring a company that owns a refinery for bidding, an official of the corporation, who spoke to our correspondent in confidence said the government may decide to settle for barter at the end of the day. The source said that instead of outright sale of the crude oil, the government may exchange crude for refined products, which makes good business sense.  The application from interested companies closes on April 5, NNPC said. 
Shipping lists according to Reuters showed that Nigeria will load about 65 million barrels of oil on 73 tankers in May. The May exports are set to be the highest since August 2011, up from a planned level of 1.96 million bpd in April Reuters data said. 
Nigeria is Africa’s top oil producer and exports have risen in the last two months due to rising production at Total’s newly streamed offshore field - Usan.
Exports from the field is rising fast and will load five cargoes or about 150,000 bpd in May compared with three cargoes in April.
Exports for the benchmark Nigerian export grade Qua Iboe are set to be steady in May at 12 cargoes. Bonny Light volumes are set to fall from eight tankers to five in May, Reuters said. 
The export figures are exclusive of condensates.