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Nairaland Forum / Nairaland / General / Politics / Nigeria's Lame Duck CBN Governor Takes A Bashing (2583 Views)
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Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 11:49pm On Jul 09, 2015 |
http://www.economist.com/news/middle-east-and-africa/21656700-desperate-measures-bank-toothpick-alert |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 11:50pm On Jul 09, 2015 |
While it may be beyond common sense to expect a neo liberal mouthpiece as The Economist to speak in favor of market regulation and exchange rate controls, the CBN under Emefiele doesn't seem to be exuding much confidence. Resorting to bans and import restrictions was always going to be the lay mans solution - even Buhari knew that in the 80's! . With the long list of bans and restrictions in a country with borders as porous as they could possibly be and unchecked round - tripping, the black market rate is sure to emerge the lead rate and would inevitably pull down the Naira thereby making nonsense of what is turning out to be a chest thumping attempt to hold the Naira steady. A terrible mix of policies in my opinion. Perhaps there should be a law reserving the CBN governors post exclusively for Economists. 2 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 11:52pm On Jul 09, 2015 |
Ok |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Obijulius: 11:52pm On Jul 09, 2015 |
Senseless write-ups. Who reads the economist these days. CIA funded terrorists who will never report on the crimes been committed in the Congo because of their interests. Very soon we place a ban on importation of labour into this country. You guys better get ready to lament till thy kingdom come. 3 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by 4Play(m): 11:59pm On Jul 09, 2015 |
That Godwin Emefiele is the most inept CBN Governor I have ever seen. To go from Sanusi to this numpty is a tragedy. The problem is amplified by Nigerians' obsession with maintaining a strong Naira which he is trying to serve by these ad hoc idiotic measures. The sooner he is sacked, the better. That GEJ appointed this buffoon in the first place speaks volumes. 3 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 12:04am On Jul 10, 2015 |
i don get alert, God-win... 2 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Starships4u(m): 12:45am On Jul 10, 2015 |
Pull him down and plant a hausa/fulani/daura man there... Shebi Na wetn una want 4 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 12:46am On Jul 10, 2015 |
Obijulius:Ignorance or naivety, I know not which. |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by dustmalik(m): 1:02am On Jul 10, 2015 |
Obijulius: Starships4u:^^ These kind of people are the problem of Nigeria. What does It matter if a Cameroonian is appointed and does a better job than Godwin Emefiele, who has failed woefully. Tomorrow, these same people will be the first to criticize Buhari when things keep getting worse, meanwhile their tribal man has done nothing but a terrible job. 2 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 4:10am On Jul 10, 2015 |
Starships4u:You'd prefer to keep a striker that wouldn't hit a barn door from ten paces? |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by ibedun: 6:20am On Jul 10, 2015 |
The minute you mentioned the Economist I knew you were talking nonsense! |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by IsraeliAIRFORCE: 6:39am On Jul 10, 2015 |
This outdated policy of indirectly blocking imports not on prohibition list to conserve forex is what neonatals call Buhari's achievement of saving $2.89 billion forex in one month. I would've blamed the CBN Governor alone for this reverse fiscal responsibility but Buharists are taking the responsibility on their master. The country is nose diving because of indecision by the government of Nigeria operating on auto-pilot Inflation has skyrocketed since the implementation of this cabalistic oriented policy. It is time for Buhari and by extension APC to start leading and stop playing opposition propaganda. Government in power and their supporters are meant to convey the merits of their policies and programmes to the electorates and not attacking citizens who question their ineptitude. Mr President, you (Nigeria) need Finance Minister and Economic Advisory Team now 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by omowolewa: 6:44am On Jul 10, 2015 |
What is inept about him? You can't just sack a CBN govr like that, its an independent body ask GEJ. More so, he is only there as the head, most of the decisions reflect the idea of many. The board could be reshuffled at any time but not the Govr. |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 6:46am On Jul 10, 2015 |
This topic has been thoroughly trashed here and the position of the author of the article declared as pure sleaze to undermine the methods of shoring the Naira. |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 6:48am On Jul 10, 2015 |
PvtParts2:May I have a link to the discussion please? 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 6:54am On Jul 10, 2015 |
omowolewa:I largely agree with you afterall the Monetary Policy Committee is an integral part of the CBN machinery but you'd also have to agree that the likes of Soludo and Sanusi showed just how much of a determining factor a Governor could be. 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Bugatie(m): 7:04am On Jul 10, 2015 |
4Play: Inept because he doesn't make noise like your hero Sanusi |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 7:13am On Jul 10, 2015 |
wesley80: https://www.nairaland.com/2422899/cbn-governor-should-sacked-immediate#35419817 LeOstrich destroyed the OP 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 7:18am On Jul 10, 2015 |
LeOstrich: 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by southWASTE: 7:26am On Jul 10, 2015 |
Another senseless article by the usual propaganda suspects...mtchewww 2 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 7:27am On Jul 10, 2015 |
His submissions in that thread are full of sentiments, misrepresentations and outright lies. There's very little economic sense in the whole of his arguments,but of course you guys are defending something much more important than the nation's interest so it'll make perfect sense to you guys. 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by vedaxcool(m): 7:32am On Jul 10, 2015 |
Dat man still dey there? He should demoted back to zenith microfinance bank. Southwest: taniod I see you. |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 7:35am On Jul 10, 2015 |
Rome did not fall as a result of an external enemy knocking at its gates. No! Rome fell because the Plebs where rioting every other day because of the price of bread. Rome had become so dependent on wheat exports from Egypt which will later be subsidized by the state . Politicians campaigned by providing free wheat to the masses and organizing gladiator games. See Aregberascal and his daft Osun voters for parallels. Progressive is another word for welfarism. |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 8:03am On Jul 10, 2015 |
PvtParts2:And your point is? |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Nobody: 8:06am On Jul 10, 2015 |
wesley80: A welfare state where govt is paternalistic to its citizens in a misplaced way and it's citizens only view governance in the free largese they get can not survive. Just as we see you in the north and southwest crying every single day for one form of govt subsidy or assistance. |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 8:25am On Jul 10, 2015 |
PvtParts2:Still waiting for your point. 2 Likes |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by patrick89(m): 9:35am On Jul 10, 2015 |
dustmalik:during GEJ all the blames went to him and not sanusi, but now Emefiele will bear the burnt of ineptitude of Buhari that has refused to appoint his ministers. how about comparing sanusi's achievements with that of Emefiele's before they became governors? or how about assay their contribution in economics.. so because sanusi was a politician who was giving lectures on politics,religion and tribe instead of economics. Who wrote the "Yoruba is the problem of Nigeria"? go and Google it. 1 Like |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 9:50am On Jul 10, 2015 |
patrick89:What exactly qualifies Emefiele to be called an economist? Is it working in a bank or being a CBN governor? I'm really curious. You lot can make the most elaborate and nonsensical arguments without taking out a second to read up the profile of the individual you dissipate so much energy talking about. God help us |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Change2015(m): 10:20am On Jul 10, 2015 |
wesley80: I think you miss the point the cbn governor is making... He has no power to ban any goods. All he is saying is that such importers should source their foreign currency elsewhere. Soludo was an economist who still left a dogs mess behind for mallam Sanusi to clean up. Makes you wonder... However I still believe Emefiele must leave that position for a more credible person soon. #change |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Change2015(m): 10:23am On Jul 10, 2015 |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by Change2015(m): 10:25am On Jul 10, 2015 |
[quote author=PvtParts2 post=35690227][/quote] Garbage! |
Re: Nigeria's Lame Duck CBN Governor Takes A Bashing by wesley80(m): 11:14am On Jul 10, 2015 |
Change2015:I think I got my point just right as you just buttressed the point I was trying to make. Forcing importers to source their forex elsewhere amounts to forcing them to patronize the black market - you have to agree they won't stop importing. If anything, these restrictions have made their business more profitable. The more patronage the black market enjoys, the wider the gap it gains with the official rate and it pulls the latter down. Soludo went to ridiculous Heights to bridge this gap in his tenure and I think Emefiele is just recreating it. You don't dig a hole to cover a hole. |
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