| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by engineerboat(m): 9:59am On Aug 10, 2015 |
Activa:
Another hollow approach to the reserves news just to sound like a critic. 
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| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Unsad(m): 10:00am On Aug 10, 2015 |
Godwin Emefiele is the real MVP |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 10:04am On Aug 10, 2015 |
superstar1:
What you described casually has successfully
1. Stopped money launderers to a large extent.
2. Stopped importation of things that can be produced locally with our dwindling FX. This will lead to job creation in the medium to long term.
The future is looking bright for our dear country under PMB. So proud I voted out cluelessness and voted in direction and leadership Sir, you don't walk before crawling, you crawl before walking. 1. There is no evidence or sign that laundering has stopped. In fact, most launderers launder funds through cash and not through bank transaction. 2. Importers will only seek alternative to import. You don't stop import through this means. You only discourage it by promoting local production. In fact, economic forces such as demand, supply, price, availability etc comes to play in discouraging import. Buhari is cluelesssssss 2 Likes |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 10:04am On Aug 10, 2015 |
superstar1:
What you described casually has successfully
1. Stopped money launderers to a large extent.
2. Stopped importation of things that can be produced locally with our dwindling FX. This will lead to job creation in the medium to long term.
The future is looking bright for our dear country under PMB. So proud I voted out cluelessness and voted in direction and leadership Don't mind guy. He's either ignorant or bitter. Or both. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Yomboy4ever(m): 10:08am On Aug 10, 2015 |
engineerboat:
They are very quick to tell us our foreign reserve is growing, but are not quick to give us ministers, embark on meaningful project, foreign business transactions, and other government activities.
We are waiting till He appoint his ministers and other Executives members, then lets see what happen from there not this, mouth talk with no action. Ministers like Ngozi and allison so dat u can continue eating from ther looting abi? Very soon we shall create a wailing ministry for u and your co-wailers 2 Likes |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Olaolohun(m): 10:08am On Aug 10, 2015 |
God bless my president |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 10:08am On Aug 10, 2015 |
barcanista:
Sir, you don't walk before crawling, you crawl before walking.
1. There is no evidence or sign that laundering has stopped. In fact, most launderers launder funds through cash and not through bank transaction.
2. Importers will only seek alternative to import. You don't stop import through this means. You only discourage it by promoting local production. In fact, economic forces such as demand, supply, price, availability etc comes to play in discouraging import.
Buhari is cluelesssssss 1. You can't prove that. More laundering is done in dollars than through the banks that will submit returns to EFCC. Mules also physically move dollars out and pay them back in. 2. There are many ways to kill a cat. What the cbn is using is just the monetary policy and will be supported by the govt's fiscal/industrial policies. Buhari needs to start this on time, I agree. I don't like the idea of just killing every single policy of any govt. As things stand today, is what cbn doing wrong? Would you have wanted cbn to wait for the fiscal programme of a new govt before taking action to stem the slide? 1 Like |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by peter4d2(m): 10:11am On Aug 10, 2015 |
Why won't it rise no major projects being executed n yet people r happy dat d foreign reserve appreciates b 0.2%,when I wuld take bubu serious if he has started feeding sch children,also get 2 pay old people 5000 stipends and finally our beloved youth corpers #20,000 monthly pay till dey get a gud job.
So no praises 4 now call me wailing wailer #wailing4abetternigeria. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 10:16am On Aug 10, 2015 |
Activa:
1. You can't prove that. More laundering is done in dollars than through the banks that will submit returns to EFCC. Mules also physically move dollars out and pay them back in.
2. There are many ways to kill a cat. What the cbn is using is just the monetary policy and will be supported by the govt's fiscal/industrial policies. Buhari needs to start this on time, I agree.
I don't like the idea of just killing every single policy of any govt.
As things stand today, is what cbn doing wrong? Would you have wanted cbn to wait for the fiscal programme of a new govt before taking action to stem the slide? The idea of Emefiele is unprecedented and can never be found in any sane democracy. Like Egypt, he only need to place a daily/monthly Dollar deposit/withdrawal limit while encouraging the government to kicks start its fiscal policies to compliment/align with CBN's monetry policy. But Emefielle and Buhari are in a haste to impress with unreasonable policy that won't go anywhere. As for the bold: That you agree that the delay is working against our development is a positive sign that you are open for development. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by marv1: 10:17am On Aug 10, 2015 |
That happens when you have a leader who has direction, purpose and determination to succeed. Unlike the previous govt you hadly hear about the foreign reserve status just because of thier intention to LOOT. 1 Like |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 10:19am On Aug 10, 2015 |
barcanista:
The idea of Emefiele is unprecedented and can never be found in any sane democracy. Like Egypt, he only need to place a daily/monthly Dollar deposit/withdrawal limit while encouraging the government to kicks start its fiscal policies to compliment/align with CBN's monetry policy. But Emefielle and Buhari are in a haste to impress with unreasonable policy that won't go anywhere.
As for the bold: That you agree that the delay is working against our development is a positive sign that you are open for development. My opinion is not coloured by politics. Nigeria is my country and I want the best for her under any govt or personality. But honestly, it's hard to fault what the cbn is doing. The other option is to do nothing and it would be worse. 1 Like |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by jmoore(m): 10:27am On Aug 10, 2015 |
ayindejimmy:
....in two months. Now think of the number of months in 4 years and do the arithmetic Why not do the maths yourself dude? $200 million per month= $2.4 billion a year times 4 years= $9.6 billion in 4 years That's very poor for our country. I don't celebrate mediocrity.  |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by tuniski: 10:29am On Aug 10, 2015 |
socialmediaman:
Even with drop in oil revenue? I laugh. I remember one time an ex-president told workers to prepare for hard times just because he could not control corruption and funds leakages and theft that dwarfed government revenue are times not harder than we were foretold? Abeg be objective foreign reserve appreciation is nothing for as long as we yet to be a producing nation. It is a mirage once d pressure on forex is high the reserve drops to cushion d effect of depreciation on domestic currency. No magic just propaganda by the media govt we are having. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Merkki(f): 10:32am On Aug 10, 2015 |
queenzibah:
d increase is even very poor, cos ntg hav been done in dis country since may 29 even no ministersss so d increase is too poor cos its like our money is in fixed deposit till december. Baba go slow , poor baba y d small increase na wen u neva touch d money b4 nd havnt touch d new one comin in , nawa . Na one chance we dey . Ehe less I forget baba pls I'm misin new pix since dat ur photographer got wedded , plls sack nd probe him nd giv us corruption free photographer for more pix . Ehe baba less I forgot dat ur last pix wit obama is not full but cut also d oda group pix was cropped but dat guy charged all d same amount. Pls probe dat guy nd giv us more pix , we APC fans re misin new pix nd dats y we voted u sir. Thanks my shout out to: barcanista , tmitemi1, firefire, demdem phhocphockman , truckpusher, ishilove (my enemy) , lalasticlala (like him or her ) , seun (not his fan ) ......and others , if I didn't get ur name right pls try and answer name with good spelling nxt time Your IQ is so low and depressing. I feel for you. 2 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by juman(m): 10:37am On Aug 10, 2015 |
Activa:
Are projects funded from reserves? Reserve rises when no money spent on project. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by tucky200(m): 10:37am On Aug 10, 2015 |
queenzibah:
d increase is even very poor, cos ntg hav been done in dis country since may 29 even no ministersss so d increase is too poor cos its like our money is in fixed deposit till december. Baba go slow , poor baba y d small increase na wen u neva touch d money b4 nd havnt touch d new one comin in , nawa . Na one chance we dey . Ehe less I forget baba pls I'm misin new pix since dat ur photographer got wedded , plls sack nd probe him nd giv us corruption free photographer for more pix . Ehe baba less I forgot dat ur last pix wit obama is not full but cut also d oda group pix was cropped but dat guy charged all d same amount. Pls probe dat guy nd giv us more pix , we APC fans re misin new pix nd dats y we voted u sir. Thanks my shout out to: barcanista , tmitemi1, firefire, demdem phhocphockman , truckpusher, ishilove (my enemy) , lalasticlala (like him or her ) , seun (not his fan ) ......and others , if I didn't get ur name right pls try and answer name with good spelling nxt time U are that b!tch that's ready to die for jona..when jona was there did it increase ? |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Horlufemi(m): 10:49am On Aug 10, 2015 |
Activa:
My opinion is not coloured by politics.
Nigeria is my country and I want the best for her under any govt or personality.
But honestly, it's hard to fault what the cbn is doing. The other option is to do nothing and it would be worse. Respect. They are busy shouting buhari and Johnathan. The economy is more important than politics. They will never think objectively as long as they are partisan and bias. I don't know if they want CBN to do nothing. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by jullary(m): 10:50am On Aug 10, 2015 |
queenzibah:
d increase is even very poor, cos ntg hav been done in dis country since may 29 even no ministersss so d increase is too poor cos its like our money is in fixed deposit till december. Baba go slow , poor baba y d small increase na wen u neva touch d money b4 nd havnt touch d new one comin in , nawa . Na one chance we dey . Ehe less I forget baba pls I'm misin new pix since dat ur photographer got wedded , plls sack nd probe him nd giv us corruption free photographer for more pix . Ehe baba less I forgot dat ur last pix wit obama is not full but cut also d oda group pix was cropped but dat guy charged all d same amount. Pls probe dat guy nd giv us more pix , we APC fans re misin new pix nd dats y we voted u sir. Thanks my shout out to: barcanista , tmitemi1, firefire, demdem phhocphockman , truckpusher, ishilove (my enemy) , lalasticlala (like him or her ) , seun (not his fan ) ......and others , if I didn't get ur name right pls try and answer name with good spelling nxt time wetin u dey talk,Is your brain on vacation? |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by engineerboat(m): 10:51am On Aug 10, 2015 |
tucky200:
U are that b!tch that's ready to die for jona..when jona was there did it increase ? 
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| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by superstar1(m): 10:52am On Aug 10, 2015 |
barcanista:
Sir, you don't walk before crawling, you crawl before walking.
1. There is no evidence or sign that laundering has stopped. In fact, most launderers launder funds through cash and not through bank transaction.
2. Importers will only seek alternative to import. You don't stop import through this means. You only discourage it by promoting local production. In fact, economic forces such as demand, supply, price, availability etc comes to play in discouraging import.
Buhari is cluelesssssss Laundering might not be stopped totally but brazen laundering has been stopped. What they do before is they pay cash into the banks and transfer abroad or through BDCs. That is practically impossible now. The amount of FX cash in the vaults of banks is above $1bn which is a non-earning assets rendered sterile. If CBN will move that to.overseas for the banks, they will charge 20% as fees, can the bank charges the customers the same? No. This will put a stop to the systematic dollarisation of our economy. 2. If you seek other means of FX for your imports, which will definitely increase your selling cost, how will you match a local producer producing the same goods and of the same quality? Who will definitely run out of the market? The importer of course. This will also come with added advantage of job creation and increase in tax payments and other ancillary benefits. 1 Like |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by superstar1(m): 10:54am On Aug 10, 2015 |
jmoore:
Why not do the maths yourself dude?
$200 million per month= $2.4 billion a year times 4 years= $9.6 billion in 4 years
That's very poor for our country. I don't celebrate mediocrity.
If Jonathan had achieved half of that, will our reserve be where it is today? Little drops of water make a mighty ocean. Gradually that meagre amount will build up to be something. That was how OBJ saved overtime and PMB is doing same. 2 Likes |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by socialmediaman: 10:58am On Aug 10, 2015 |
anonimi:
Wrong narrative and misinformed interpretation.
Unlike Jonathan who SPENT on railways, roads, universities, almajiri schools and ensured the 36 states got their share of the Excess Crude Account, ECA as constitutionally guaranteed for the JOINT owners of the Federation Accounts, Buhari has done NOTHING since May 29 except travel with N2.2 billion to the US and other tourist trips. Warp analysis. Every administration spent on capital projects like roads etc, the problem is, they earned only about 50% of our full revenue because they couldn't control stealing and corruption. On top of that 50% earned, inflated contracts, corruption, pilfering and reckless spending meant the government only spent like 35% of the budgeted funds on the actual projects. This meant that out of about 100% of revenue which should be spent by government, we only see less than 20% on ground. That's why your roads are delapidated, facilities have broken down in your schools, law enforcement cannot function effectively, trains bought by government are ancient and outdated etc, and here you are praising them as achievements. You have to give this government 2 years and see the difference even with the fallen oil prices... We're not in a hurry, no matter how much you wail, your voices will fade with time because you cannot measure up with the achievements and milestones this present government will make. You will wail to the point that Nigerians themselves will be the ones asking you to stop crying where there's no mourning. Happy wailing ahead!! 3 Likes |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by olalat(m): 11:00am On Aug 10, 2015 |
U jst wake up early morning nd decided to be unreasonable. God will c to ur case o o o. queenzibah:
d increase is even very poor, cos ntg hav been done in dis country since may 29 even no ministersss so d increase is too poor cos its like our money is in fixed deposit till december. Baba go slow , poor baba y d small increase na wen u neva touch d money b4 nd havnt touch d new one comin in , nawa . Na one chance we dey . Ehe less I forget baba pls I'm misin new pix since dat ur photographer got wedded , plls sack nd probe him nd giv us corruption free photographer for more pix . Ehe baba less I forgot dat ur last pix wit obama is not full but cut also d oda group pix was cropped but dat guy charged all d same amount. Pls probe dat guy nd giv us more pix , we APC fans re misin new pix nd dats y we voted u sir. Thanks my shout out to: barcanista , tmitemi1, firefire, demdem phhocphockman , truckpusher, ishilove (my enemy) , lalasticlala (like him or her ) , seun (not his fan ) ......and others , if I didn't get ur name right pls try and answer name with good spelling nxt time |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by engineerboat(m): 11:03am On Aug 10, 2015 |
Activa:
Who is interested in your APC/PDP nonsense?
Ask me any question about the economy or let me ask you.
I'm not here to joke or for petty politics.
I'm in support of what the cbn is doing. I've given my reasons in earlier posts.
Critique that stand or the reserves and let's slug it out. It's a challenge. Please explain this graph 
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| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by engineerboat(m): 11:06am On Aug 10, 2015 |
socialmediaman:
Warp analysis. Every administration spent on capital projects like roads etc, the problem is, they earned only about 50% of our full revenue because they couldn't control stealing and corruption. On top of that 50% earned, inflated contracts, corruption, pilfering and reckless spending meant the government only spent like 35% of the budgeted funds on the actual projects. This meant that out of about 100% of revenue which should be spent by government, we only see less than 20% on ground. That's why your roads are delapidated, facilities have broken down in your schools, law enforcement cannot function effectively, trains bought by government are ancient and outdated etc, and here you are praising them as achievements.
You have to give this government 2 years and see the difference even with the fallen oil prices... We're not in a hurry, no matter how much you wail, your voices will fade with time because you cannot measure up with the achievements and milestones this present government will make. You will wail to the point that Nigerians themselves will be the ones asking you to stop crying where there's no mourning. Happy wailing ahead!! You said give this government 2 Years, Fin! Then tell this government to stop Talkativeness with no action. In Physics third law of motion "To every action. there is equal and opposite reaction" People are only reacting to what they say and comparing it to the reality on ground |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 11:12am On Aug 10, 2015 |
superstar1:
Laundering might not be stopped totally but brazen laundering has been stopped. What they do before is they pay cash into the banks and transfer abroad or through BDCs. That is practically impossible now.
The amount of FX cash in the vaults of banks is above $1bn which is a non-earning assets rendered sterile. If CBN will move that to.overseas for the banks, they will charge 20% as fees, can the bank charges the customers the same? No.
This will put a stop to the systematic dollarisation of our economy.
2. If you seek other means of FX for your imports, which will definitely increase your selling cost, how will you match a local producer producing the same goods and of the same quality? Who will definitely run out of the market? The importer of course.
This will also come with added advantage of job creation and increase in tax payments and other ancillary benefits. That is because the CBN don't know what they are doing. The first question should be What led to the dollar flooding our market? The answer is majorly tied to Importation among others. What can be done to arrest it? Hoarding the reserve? Absolutely No! Rather address the challenges that faced local manufacturers while promoting policies to DISCOURAGE import. In the case of CBN there is nothing on ground to encourage local production yet they want to use taekwando style to STOP import. Import will stopp/reduce when local producers are able to meet the demands of the economy. In fact, price, quality, availability, government imposed tax on imported products etc are enough to tell importers to close shop and look inwards. All these don't exist in vacuum. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 11:15am On Aug 10, 2015 |
olalat:
U jst wake up early morning nd decided to be unreasonable. God will c to ur case o o o. tucky200:
U are that b!tch that's ready to die for jona..when jona was there did it increase ? Merkki:
Your IQ is so low and depressing. I feel for you. Why are you all mast*bating over her post? |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Firefire(m): 11:15am On Aug 10, 2015 |
queenzibah:
d increase is even very poor, cos ntg hav been done in dis country since may 29 even no ministersss so d increase is too poor cos its like our money is in fixed deposit till december. Baba go slow , poor baba y d small increase na wen u neva touch d money b4 nd havnt touch d new one comin in , nawa . Na one chance we dey . Ehe less I forget baba pls I'm misin new pix since dat ur photographer got wedded , plls sack nd probe him nd giv us corruption free photographer for more pix . Ehe baba less I forgot dat ur last pix wit obama is not full but cut also d oda group pix was cropped but dat guy charged all d same amount. Pls probe dat guy nd giv us more pix , we APC fans re misin new pix nd dats y we voted u sir. Thanks my shout out to: barcanista , tmitemi1, firefire, demdem phhocphockman , truckpusher, ishilove (my enemy) , lalasticlala (like him or her ) , seun (not his fan ) ......and others , if I didn't get ur name right pls try and answer name with good spelling nxt time  |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Firefire(m): 11:15am On Aug 10, 2015 |
barcanista:
Why are you all mast*bating over her post? u dey mind d yeye fifu 1 Like 1 Share |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by superstar1(m): 11:36am On Aug 10, 2015 |
barcanista:
That is because the CBN don't know what they are doing.
The first question should be What led to the dollar flooding our market? The answer is majorly tied to Importation among others. What can be done to arrest it? Hoarding the reserve? Absolutely No! Rather address the challenges that faced local manufacturers while promoting policies to DISCOURAGE import. In the case of CBN there is nothing on ground to encourage local production yet they want to use taekwando style to STOP import. Import will stopp/reduce when local producers are able to meet the demands of the economy. In fact, price, quality, availability, government imposed tax on imported products etc are enough to tell importers to close shop and look inwards. All these don't exist in vacuum. The election and money launderers flooded the market with the physical FX. CBN is not hoarding FX. It is basically saying for some items I am not selling my FX to you, where you get it from its none of my business. Power is improving and CBN has given out several intervention funds to genuine manufacturers, that is enough to encourage local production. How do we stem unemployment when we keep allowing economy saboteurs to keep importing things that we have capacity to produce locally? How do we increase the IBM of the states if not through the manufacturing of these goods in Nigeria and subsequent payment of corporate and personal taxes of employees of such companies. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by Nobody: 11:46am On Aug 10, 2015 |
superstar1:
The election and money launderers flooded the market with the physical FX.
CBN is not hoarding FX. It is basically saying for some items I am not selling my FX to you, where you get it from its none of my business.
Power is improving and CBN has given out several intervention funds to genuine manufacturers, that is enough to encourage local production.
How do we stem unemployment when we keep allowing economy saboteurs to keep importing things that we have capacity to produce locally? How do we increase the IBM of the states if not through the manufacturing of these goods in Nigeria and subsequent payment of corporate and personal taxes of employees of such companies.
When Emefiele placed FX ban on some 41 item§, I agreed with him. But when he moved a step backward to stop receiving dollar from the banks, I disagreed and maintained that it is counter productive. You don't use military style to fix economic mess. |
| Re: Nigeria’s Foreign Reserves Rise To $31.5 Billion by yemmynoni: 11:50am On Aug 10, 2015 |
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