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Nairaland Forum / Nairaland / General / Business / CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% (42319 Views)
CBN Reduces Lending Rate To 11 Percent / Cash Shortage Hits Banks, Overnight Lending Rate Jumps / CBN Officially Devalues Naira (2) (3) (4)
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Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Boss13: 5:49pm On Nov 25, 2014 |
Volksfuhrer: Do we live in an insulated world of our own. The CBN is left with no choice. We saw it coming and this is just the beginning. #Harshtruth 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Boss13: 5:53pm On Nov 25, 2014 |
barcanista: We don't have 36 ministers, we have 72 ministers - you forgot the ministers for state (their deputies). Will cutting the cost for public office make them work, I don't think so. It will make them steal more but 72 ministers is just too much, you can hardly tell who is who and who is probably working. 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 6:07pm On Nov 25, 2014 |
barcanista:Exactly.. The Oronsanye panel estimated that over N800bn would be saved yearly if the FG fully implements it's report. An obvious merger I'm in favor of is that of the ICPC, Code of Conduct Bureau, and the EFCC. The anti-fraud units of the Nigerian Police should also be merged with the new EFCC. 4 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Ovamboland(m): 6:09pm On Nov 25, 2014 |
Jonathan fulfilling his destiny to bankrupt Nigeria 5 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 6:21pm On Nov 25, 2014 |
CFCfan:I agree with the merging of EFCC, ICPC and CCB but they can't be merged with SFU of the Police, as that is not obtainable anywhre except you want the new anticorruption body to be under the control of the Police Force |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by chukel(m): 6:35pm On Nov 25, 2014 |
I'm so happy about the mature debate and enlightenment between barca and boss13. I think we have gotten to that level where we ignore these paid agents and there distraction. I so love how u maturely ignored one of them who came to spew their usual thrash. I feel the devaluation is hasty. What happened to the austerity measures. They are hiding a lot. We had so many months of oil windfall. Yes, we were saving the so called excess crude account, but we never had any impact of the windfall. It dint reflect in our exchange rate neither did it step down our lending rate. Unfortunately the scam called subsidy will still be paid to import refined product. If our refineries were fixed and new ones built as our lying president told us, we would mitigate the effect by knowing we won't have to import refined oil products. We can even reverse to only selling more valued refined products. Unfortunately we have a criminal as a president. A peep into the excess crude account, I'm sure will baffle Nigerians. God is giving us all the reasons to drive dis man out of aso rock. By His grace, we shall do that. 10 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 6:50pm On Nov 25, 2014 |
barcanista:It won't be under the Police. The new body would still be a separate legal entity 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:04pm On Nov 25, 2014 |
anonimi:Yet your economy is on a free fall. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 7:08pm On Nov 25, 2014 |
Obiagelli: Free fall, maybe in planet pluto 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:08pm On Nov 25, 2014 |
Algeria place its budget benchmark at $35 per barrel for several years and was busy saving during the oil boom. Nigeria kept buying jet, i remember our president saying Nigeria Economy is growing because more people buy private jets (stupid comment). We kept host stupid event and celebrating bullshit. Today it has dawned on us. 14 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by omenka(m): 7:09pm On Nov 25, 2014 |
Keneking:Before next year if possible. 2 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 7:11pm On Nov 25, 2014 |
Those in the export sector of the economy will see this as good news. The people waiting on government to butter their bread, will keep crying. One commodity is funding the activities of your welfare state, when that commodity coughs, you people will always catch cold. 3 Likes 1 Share |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:12pm On Nov 25, 2014 |
barcanista:Let the FG disband the police, let states run their own police according to their pockets, let the Dss become federal police corruption and terrorism as their main objectives just like the FBI. We need to do away with all this icpc and efcc nonsense. Cc CFCfan 6 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:13pm On Nov 25, 2014 |
atlwireles:What are you exporting? Have we even covered our local market. 5 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 7:15pm On Nov 25, 2014 |
Obiagelli: You are good with producing data, make that your assignment and find out what Nigeria exports. Start with Ijebu garri, you be surprised what the real economy does in this country. 2 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by omenka(m): 7:17pm On Nov 25, 2014 |
Kx:The lies and propaganda of this administration is being exposed by market forces by the second. Too bad some people still insist Jonathan is the way to go. Imagine the earnings accrued to the economy over the past five years yet instead of investing heavily in the non oil sector in order to cushion the effects of the ever volatile international oil market, Jonathan was most interested in increasing the number of presidential jets on Aso Rock fleet!! What a squandermania!! What a useless government!! 5 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:18pm On Nov 25, 2014 |
This is a welcomed development. It is called Quantitative Easing and will be readjusted in the future. This will jump-start the Economy. Instead of ignorant people complaining about Fiscal Policies they know nothing about, why not just ask questions ? Or better still, find a product or service to export and earn extra on foreign exchange. Anyway, I dont blame una, when student protest N60,000 a session school fees, what do we expect ? 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:20pm On Nov 25, 2014 |
atlwireles: ' Nigeria's international trade is 92% import, 8% export ' thenationonlineng.net/new/nigerias-international-trade-is-92-import-8-export/ 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 7:23pm On Nov 25, 2014 |
Obiagelli: Really, what makes up that 92% you import and the 8%, you export? Before you post junk, take 5 mins and see, if it makes any sense. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:25pm On Nov 25, 2014 |
Billyonaire:This boy, oil prices fell to $40 under yaradua, did the pdp learn anything? 4 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:26pm On Nov 25, 2014 |
atlwireles:Go and read the link, ask direct questions, i don't have time tonight 2 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 7:31pm On Nov 25, 2014 |
Obiagelli: Sorry, your rubbish is not worth my reading time. National Bureau of statistics Q2_2014_Trade_Report is out there for you to educate yourself. http://www.nigerianstat.gov.ng/ http://www.nigerianstat.gov.ng/pages/download/249 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:36pm On Nov 25, 2014 |
Obiagelli:Yes, they learnt vital lessons not to depend on Oil alone, and that's why Dr. Jonathan is going full throttle to harness our potentials in Agro sector, etc. Thanks for asking, by the way, I am not a boy. 3 Likes 1 Share |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:39pm On Nov 25, 2014 |
Obiagelli:You're right in a way. I won't call for the total disbandment of the Police; I'll prefer that the it be decentralized in such a way that the State Police Commissioner would be independent of the IG operationally, and that the State police commands be equally funded by the States and the FG. The State Police commands would only enforce State laws too. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:42pm On Nov 25, 2014 |
atlwireles:How exactly does this link differ from mine. 2 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 7:44pm On Nov 25, 2014 |
Obiagelli: You are kidding bah? 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:46pm On Nov 25, 2014 |
CFCfan:We seriously need to overhaul the police, there is absolutely no way we can get anywhere with the present crop of officers we have, let state government recruit new officers, it could be done systematically. Btw i will like to know if police Commissioners are appointed or elected in the US. I have heard stories of non officers becoming commissioner. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:48pm On Nov 25, 2014 |
pendy70:Good advice i should take. Thanks 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BlackTechnology: 7:51pm On Nov 25, 2014 |
Obiagelli: What is the population of Algeria. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 7:57pm On Nov 25, 2014 |
Obiagelli:In the US, the Police Chiefs are either elected or appointed by the mayors. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BlackTechnology: 7:59pm On Nov 25, 2014 |
Billyonaire: If we had encouraged resource control and fiscal federalism, Nigeria would have developed so many export products that situations like this would affect only oil producing states. States that export non oil products, would still be receiving inflow of dollars 1 Like |
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