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Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. (3008 Views)

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Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Matthewbriggs(m): 7:06pm On Dec 21, 2015
Warning: The Naira Is Crashing

In just one year, the Naira has dropped 1.5 times more in value than it did in the previous 8 years combined! That my friend is quite scary. The Naira is basically falling faster than pure water sachets at an NYSC camp.



And I know, people are going to point to the fact that the CBN rate is holding firm at N200 and claim it as a positive development in our economic turmoil.

But as I mentioned in my previous article This Is Economics Not Politics that rate is largely artificial and ultimately unsustainable (unless in the unlikely case that the price of Oil suddenly rises in 2016).

Historically, the CBN rate is slightly lower than the Free Market rate with a gap of a few hundred kobo. However, in the last 12 months we have seen an increasingly worrying trend, where the CBN rate deviates away from the Free Market rate by a huge gap.

To understand this better, the average CBN/Free Market rate difference between the years of 2006 and 2014 was just N4.00. But in the year 2015 only, that difference is a staggering N81.00. This is 20 times the average of the entire past decade! Think about that.



When you see a trend like this, it will tell you that our Economy is basically running on fumes, we don’t have enough currently to sustain the CBN rate. And banks are already beginning to reflect this. For example, Diamond Bank today announced to its customers that they will no longer be able to use their Naira Debit cards in Dubai, China and other African countries. In their own words:

“Due to the current FX market realities, please be informed that your Naira Debit Card has been restricted for usage in UAE, China and African countries.”

So yes although we have N200 on paper, it is not N200 in reality.

So who do we blame?

Frankly, I don’t care. I don’t want to enter in yet another political battle that solves nothing.

What I am trying to do with this article is to tell people whether they support PDP, APC or even KOWA that our Economy is in a state of emergency.

I am begging Nigerians to pull themselves out of party propaganda, finger-pointing and all the normal bullshit and instead pull-out their calculators and start computing the impending doom.

When we accept that there is an impending doom, then we would have the tools to start asking the right questions from our Government to prevent it. Questions like …

[size=15pt]“What is the new Finance Minister economic strategy?” “What is the plan to generate revenue when Oil is falling so fast” “What is our jobs strategy” “How are we going to attract foreign investors?” we need to start talking now before it is too late.[/size]

Sadly, we are too quiet. The media is quiet, the citizens are quiet, absolute silence … no one is asking questions and that worries me …


http://ofilispeaks.com/warning-the-naira-is-crashing/

15 Likes 4 Shares

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by eightsin(m): 7:07pm On Dec 21, 2015
.
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by krall69: 7:10pm On Dec 21, 2015
Just as someone entered somewhere, everything began to spoil
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by MizMyColi(f): 7:29pm On Dec 21, 2015
sad
What I am trying to do with this article is to tell people whether they support PDP, APC or even KOWA that our Economy is in a state of emergency.

I am begging Nigerians to pull themselves out of party propaganda, finger-pointing and all the normal bullshit and instead pull-out their calculators and start computing the impending doom.

“What is the new Finance Minister economic strategy?” “What is the plan to generate revenue when Oil is falling so fast” “What is our jobs strategy” “How are we going to attract foreign investors?” we need to start talking now before it is too late.

THIS!

Having seen the direction this country is towing, I sat down in sober contemplation one day and I said to myself "Ada, this is not the time to be claiming party and personality supremacy"

This is not the time to engage in couterproductive and ego massaging arguments.

This is neither the time to see everything the government of the day is doing badly without you contributing your quota to National development.

This is a time to face REALITY!!

So, I told myself...that asides being a tax paying citizen, despite my unbelief in Buhari and my disdain for that party called APC....
I will yet wish Nigeria well by becoming more positive, speaking more positive words...and even ending all my wailing sessions with expressed and renewed hope for this nation.

I am strong believer in the power of positive confession. The bible says that power and death lies in the tongue.
I have seen myself in situations where I had nothing going on.
But I kept confessing positively even when I didn't totally believe the things I was saying to and about my situation.
By his grace, and guidance, I am who and what I am today.

All I did was believe, no matter how scant it was. I think that saying the right thing has a way of going forth and arranging things to work in a person's favour.

Today, again, this moment, I express renewed faith and hope for the coming year.
Where doom has been spelt, I spell abundance and Success.

Kemi Adeosun and all major stakeholders of our economy are guided. She is mentally uplifted. Every mire and confusion she might be passing through gives way for clarity this moment.

I declare that Nigerians will have leaders who are willing to work for their good. Any minister or leader who has refused to avail himself or herself for the general interest of the Nigerian Citizen will vacate their office mysteriously, and those who are willing to serve and bring us wholesome and positive change will ascend and do exploits.

It is well.
Even we as citizens are guided, and more inspired to play our roles, both in the family and at our work places in such a way that will cause an overall growth in the economy, whether oil price rises or decreases.
Our hands are anointed to make exceeding wealth amid scarce resources.

I express strong belief that there is hope for our future.
I will not despair, I will not lose hope.
Under this circumstance, it is all You and I have really.

8 Likes 2 Shares

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Uchan4u(m): 7:32pm On Dec 21, 2015
Everyone is afraid to speak, nobody wants to attract the wrath of the man at top, or to be seen as an opposition to the power that be.

1 Like

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Nobody: 7:34pm On Dec 21, 2015
MizMyColi:
sad
Have u found any family member of your missing 200 soldiers or are the only survivor

3 Likes

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by dunkem21(m): 7:36pm On Dec 21, 2015
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Pidggin(f): 7:39pm On Dec 21, 2015
This is disturbing, our nation is falling and people are just watching it fall.

1 Like

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Chubhie: 7:39pm On Dec 21, 2015
The spirit of deaf and dumb has descended on the Nation as long as it is Saint Buhari and his 40 thief.

I will see if they won't react like a goat that has been pushed to the wall when subsidy is finally gone.

2 Likes 1 Share

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Shortyy(f): 7:47pm On Dec 21, 2015
They are still busy hailing Buhari. what a messed up country

1 Like 1 Share

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by MizMyColi(f): 8:06pm On Dec 21, 2015
IyaIode:

Have u found any family member of your missing 200 soldiers or are the only survivor


"Anyone that buys the lie and propaganda that the 105 soldiers never died and that they are still alive is a compound fool or village idiot." ~ FFK 2015
smiley

12 Likes 1 Share

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by EbukaFran: 9:32pm On Dec 21, 2015
IyaIode:

Have u found any family member of your missing 200 soldiers or are the only survivor

grin grin grin grin grin

You forgot to ask her about her soldier friend that she called weeks ago.

What a liar!

4 Likes

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by omenka(m): 11:34pm On Dec 21, 2015
Exerting all the restraint I've got in me to keep from getting banned, because if I say what's on my mind, there's no escaping it.

Therefore, I'd just let some loathsome fans of Goats have their swell time taking their leisurely stroll in this beautiful park they've created for themselves. smiley

1 Like

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by mazzi: 11:37pm On Dec 21, 2015
Any country that lacks activists is doomed for failure! The few activist we used to have turned tlo campaign managers during last election,now the are deaf and dumb

2 Likes

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by suxkill: 11:42pm On Dec 21, 2015
There was a country!!!




Ooooh Lord come to our rescue, cus the labour of our heroes past seems to be in.............vain!!!
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Geniro: 11:48pm On Dec 21, 2015
omenka:
Exerting all the restraint I've got in me to keep from getting banned, because if I say what's on my mind, there's no escaping it.

Therefore, I'd just let some loathsome fans of Goats have their swell time taking their leisurely stroll in this beautiful park they've created for themselves. smiley

Zombie. swerve to one side cos you have nothing to say.

1 Like

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Orjioorji(f): 11:56pm On Dec 21, 2015
Buhari is under a cause, he is not the messiah, since he took over power we have not heard any good news
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Omololu007(m): 11:57pm On Dec 21, 2015
Hmmmmm
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by obailala(m): 1:34am On Dec 22, 2015
Orjioorji:
Buhari is under a cause, he is not the messiah, since he took over power we have not heard any good news
Cos he took over power in the middle of a major recession, and the external drivers of the recession are still getting worse. This matter is beyond GEJ or PMB or PDP or APC. There's hardly anything that can be done on the short term but things will definitely stabilise and get better on the long run. For now, Nigerians need to brace up for the worst in 2016, I forsee the dollar hitting N350 or more and a bag of rice hitting N20k.

1 Like

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by EternalTruths: 5:01am On Dec 22, 2015
MizMyColi:
sad


THIS!

Having seen the direction this country is towing, I sat down in sober contemplation one day and I said to myself "Ada, this is not the time to be claiming party and personality supremacy"

This is not the time to engage in couterproductive and ego massaging arguments.

This is neither the time to see everything the government of the day is doing badly without you contributing your quota to National development.

This is a time to face REALITY!!

So, I told myself...that asides being a tax paying citizen, despite my unbelief in Buhari and my disdain for that party called APC....
I will yet wish Nigeria well by becoming more positive, speaking more positive words...and even ending all my wailing sessions with expressed and renewed hope for this nation.

I am strong believer in the power of positive confession. The bible says that power and death lies in the tongue.
I have seen myself in situations where I had nothing going on.
But I kept confessing positively even when I didn't totally believe the things I was saying to and about my situation.
By his grace, and guidance, I am who and what I am today.

All I did was believe, no matter how scant it was. I think that saying the right thing has a way of going forth and arranging things to work in a person's favour.

Today, again, this moment, I express renewed faith and hope for the coming year.
Where doom has been spelt, I spell abundance and Success.

Kemi Adeosun and all major stakeholders of our economy are guided. She is mentally uplifted. Every mire and confusion she might be passing through gives way for clarity this moment.

I declare that Nigerians will have leaders who are willing to work for their good. Any minister or leader who has refused to avail himself or herself for the general interest of the Nigerian Citizen will vacate their office mysteriously, and those who are willing to serve and bring us wholesome and positive change will ascend and do exploits.

It is well.
Even we as citizens are guided, and more inspired to play our roles, both in the family and at our work places in such a way that will cause an overall growth in the economy, whether oil price rises or decreases.
Our hands are anointed to make exceeding wealth amid scarce resources.

I express strong belief that there is hope for our future.
I will not despair, I will not lose hope.
Under this circumstance, it is all You and I have really.

My dear stop bothering yourself.

Do you know why you shouldn't be bothered.?

Those who think they can get power by all means and their supporters who never supported the principle of equity fairness and justice for the SS people the way it was done for the SW people between 1999-2007, should know that the owner of the universe is not happy with their hypocrisy and therefore has rendered the oil wealth of SS/SE useless in order to deny them enjoying the blessing attached to these regions.

Jonathan might not be a perfect man but remember he fears God.

Unknown to you, he has applied the biblical principle of leaving vengeance to God


WHAT IS EXPECTED OF YOU AND PEOPLE LIKE ME.? DONT WASTE YOUR TIME PRAYING FOR NIGERIA BUT

1) PRAY FOR THE SS/SE REGIONS. THAT THEY MAY ENJOY THE GRACE UNLEASHED ON THE JEWS IN GOSHEN EGYPT

2) PRAY THAT YOU DO NOT FALL VICTIM TO THIS EPIC BATTLE BETWEEN THE SUPERNATURALS.



You are free to doubt me at your peril. cool

9 Likes 2 Shares

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by EternalTruths: 5:07am On Dec 22, 2015
obailala:
Cos he took over power in the middle of a major recession, and the external drivers of the recession are still getting worse. This matter is beyond GEJ or PMB or PDP or APC. There's hardly anything that can be done on the short term but things will definitely stabilise and get better on the long run. For now, Nigerians need to brace up for the worst in 2016, I forsee the dollar hitting N350 or more and a bag of rice hitting N20k.

Keep deceiving yourself that Buhari is not under a curse

You want to use the oil of the regions you called 5% and vowed not to take care ofto develop the so called 97% people
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by LegatusGlaber(m): 5:15am On Dec 22, 2015
In fairness, this government needs a little more time for the masses to feel the impact of their policies. Their "hit the ground running" promise was just one of those political sweet talks;
The chicken are finally coming home to roost.

However, this Jonathan is to blame song, being sang by every member of the ruling party, will make it impossible for them to make any impact at all, because its a clear sign of lack of responsibility.

APC still think say dem dey opposition fa

3 Likes 1 Share

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by fistonati(m): 5:30am On Dec 22, 2015
Everyone one knows we are suffering but research say we are the most happier nation in the world. Why won't it be, when our only source of exercise, recreation and enjoyment is Sex (mating). Does the researchers come to Nigeria to gathered the info

Suffering and smiling nation
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Bevista: 5:37am On Dec 22, 2015
The OP had hoped that this thread be devoid of too much political discourse but rather focus on pure economics. But no, we can't hold ourselves back. Is it that our hearts is filled with so much hatred about PDP and APC or is it that we lack intellectual depth to discourse issues objectively?
---
Back to the subject. I completely agree with the OP that the silence on matters of the Economy from this government is deafening! The CBN comes up with draconian policies, without even bothering to explain to everyone what that policy is intended to achieve and what options are available to citizens. Kemi, with all due respect, seems completely clueless or overwhelmed.

The point is that managers of our economy needs to start engaging more with citizens to explain the realities on ground and the policies government are putting in place to ameliorate such. I do not want to hear anymore blaming of the PDP or GEJ, that has already been settled and citizens now know how culpable they are. What we want to hear right now are solutions - that's why you were voted.

2 Likes 1 Share

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Sibrah: 5:48am On Dec 22, 2015
And whose fault is it? If Oil isn't selling as it was, what are you the OP exporting or contributing to growth economically?
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Nobody: 7:09am On Dec 22, 2015
MizMyColi:



"Anyone that buys the lie and propaganda that the 105 soldiers never died and that they are still alive is a compound fool or village idiot." ~ FFK 2015
smiley
ONLY FOOLS QUOTE FOOLS.


That is why some of our
igbo brothers and sisters make asinine remarks and contributions ~FFK 2013


www.nigeriafilms.com/news/22760/20/the-bitter-truth-about-the-igbo-by-femi-fani-kayod.html
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by MizMyColi(f): 7:18am On Dec 22, 2015
cry cry cry cry cry cry cry cry cry
EternalTruths:


My dear stop bothering yourself.

Do you know why you shouldn't be bothered.?

Those who think they can get power by all means and their supporters who never supported the principle of equity fairness and justice for the SS people the way it was done for the SW people between 1999-2007, should know that the owner of the universe is not happy with their hypocrisy and therefore has rendered the oil wealth of SS/SE useless in order to deny them enjoying the blessing attached to these regions.

Jonathan might not be a perfect man but remember he fears God.

Unknown to you, he has applied the biblical principle of leaving vengeance to God


WHAT IS EXPECTED OF YOU AND PEOPLE LIKE ME.? DONT WASTE YOUR TIME PRAYING FOR NIGERIA BUT

1) PRAY FOR THE SS/SE REGIONS. THAT THEY MAY ENJOY THE GRACE UNLEASHED ON THE JEWS IN GOSHEN EGYPT

2) PRAY THAT YOU DO NOT FALL VICTIM TO THIS EPIC BATTLE BETWEEN THE SUPERNATURALS.



You are free to doubt me at your peril. cool
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Iykopee(m): 7:30am On Dec 22, 2015
The deafening silence perfectly describe the foolish majority.

2 Likes

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Blackfire(m): 7:35am On Dec 22, 2015
If u ve a problem, and u don't know u ve a problem, then that is a problem inside a problem.

Me i ve vowed never to criticize bu hari again, since he is a god, if u point out his evil , u are banned or seen as an outcast. All the media houses are now in deaf and dumb classes.

So oga analyst, Nigeria and Nigerians are happy with our condition. Sai baba.

3 Likes

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by bonechamberlain(m): 7:41am On Dec 22, 2015
they are all silent, because they are ashamed of how they aided this clueless govt to power.

1 Like

Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by Nobody: 7:48am On Dec 22, 2015
EbukaFran:

grin grin grin grin grin
You forgot to ask her about her soldier friend that she called weeks ago.
What a liar!
Abi o, yeye girl
Re: Ofili Speaks : The Naira Is Crashing, The Media Is Quiet, Everyone Is Silent. by gists: 7:56am On Dec 22, 2015
While I am not making excuses for this government, I sometimes wonder where were these people when the country's currency had a horrible slide during the last administration inpsite of huge proceeds from crude oil sales. It is very mischievous to say the present administration took over and the Naira begins its free fall conveniently leaving out the historical free fall even when we made huge sales from crude. As I recall and you can see from the attached historical chat, GEJ admin met the naira at less than N150/$ but left it at over N200/$ (thank God the CBN gov implemented some measures that has clipped the official price to less than N200 earlier this year).

However, this is not to say that the present admin doesn't have work to do. But I still give the PMB admin 65% approval rating on the performance so far considering the prevailing conditions.

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