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Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate (24962 Views)

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Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by godoluwa(m): 9:50am On Dec 22, 2015
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by saasala(m): 9:50am On Dec 22, 2015
grin

Sorry, dunno what to comment

1 Like

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Lilimax(f): 9:50am On Dec 22, 2015
kITATITA:

She's a former Vice President of World Bank; she should know. She's a Nigerian; she should be concerned. She's no a mediocre. ]
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by kaspoc: 9:52am On Dec 22, 2015
shu!
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Geraraheremehn: 9:53am On Dec 22, 2015
salisy:
Directionless CBN


Trying hard to bring PMB down

Ya pmb is down already stop blaming the cbn president
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by PHfinest(m): 9:53am On Dec 22, 2015
See how CBN governor is being made a scapegoat

2 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by frankwyte: 9:55am On Dec 22, 2015
The ranting of a drowning woman! Carrying herself with no dignity; i guess she is battling with a tumor of the brain.
Just asking thou.
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by tolexy007(m): 9:55am On Dec 22, 2015
Congrat Oby, u gradually coming back to your senses
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by anytexy: 9:56am On Dec 22, 2015
Chibok Girls?
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Hiploko(m): 9:58am On Dec 22, 2015
Aunty Oby... You are needed and qualified in only one area and that is #bringbackourgirls.. Even Buhari confirmed it by not giving you a ministerial appointment despite all the gra-gra you did against GEJ. I am surprised you are no longer on the streets rolling on the floor with tears saying bring back our girls. The blood of those girls will be upon your head for playing politics with their lives...

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Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by PHfinest(m): 9:58am On Dec 22, 2015
salisy:
Directionless CBN


Trying hard to bring PMB down

Since you claim to know more about the economy than PMB, it is definitely more obvious that PMB has absolutely no clue about what direction to steer the economy.

He fired so many people from the past administration, yet no liver to fire Emefiele?
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by omohayek: 9:59am On Dec 22, 2015
Ezekwesili is right: the attempt to defend the Naira at an artificial rate is causing tremendous hardship for many businesses and ordinary people and burning through the country's foreign reserves, while doing nothing more than providing an opportunity for a few people with good connections to make easy money by buying cheap dollars and selling them at the black market rate.

2 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by kings09(m): 10:00am On Dec 22, 2015
Read d post again, she proffered solutions
Visocrate:
this is your father land you must not be a CBN governor before you write a proposal and forward to the federal government on how the economy can stabilize and to regain its status not to be pointing fingers of incompetency to the Emefield
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by tonjeola(m): 10:02am On Dec 22, 2015
There should be a solution to this mess, CBN Governor should seek advise from pro them. Your position don't say you know all
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by repogirl(f): 10:02am On Dec 22, 2015
Emefiele should resign and stop dancing to the piper's tunes! angry

He is not so dumb not to know what to do but because his master has ordered him to keep the Naira below two hundred naira to a dollar, he is using all the wrong, back handed tactics that don't even make sense anymore.

#resignemefiele! angry

3 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by kings09(m): 10:04am On Dec 22, 2015
If Buhari had appointed dis woman, u ll say it's because of d BBOG campaign, nw he ddnt appoint n u r still lookin 4 sumtin 2 talk abt. Am sure u dd same wit Amaechi till he was made minister. Ur type can never be pleased n wld nt like 2 see any gud in dis govt. Beta change ur mindset n wish d govt well cos all Nigerians will enjoy. #PrayFor9ja
Hiploko:
Aunty Oby... You are needed and qualified in only one area and that is #bringbackourgirls.. Even Buhari confirmed it by not giving you a ministerial appointment despite all the gra-gra you did against GEJ. I am surprised you are no longer on the streets rolling on the floor with tears saying bring back our girls. The blood of those girls will be upon your head for playing politics with their lives...

1 Like

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Nobody: 10:04am On Dec 22, 2015
salisy:
Directionless CBN


Trying hard to bring PMB down
It is PMB that is direction less. PmB is the one who want the niara fixed. First for pilgrimage and now. It just a typical Nigeria mentality that is emefile's problem otherwise he should have resign cos buhari is too dull yo deal with.
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by efilefun(m): 10:05am On Dec 22, 2015
sholatech:
She blames the Cbn Governor and not the administration?
Didn't this same cbn governor know the consequences of the billions of dollars he transferred to Dasuki and others

2 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by gurunlocker: 10:06am On Dec 22, 2015
this woman wan become CBN governor bah
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by VOICEOFJUSTICE: 10:07am On Dec 22, 2015
As the wailing president, I am available to welcome you into the fold grin grin grin
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Amanwulu1(m): 10:14am On Dec 22, 2015
Joe4lv:

it is easier to know all the solutions to a problem outside the problem but when given the mandate to solve it,it becomes difficult.
gbam! Apc n buhari can attest to dis fact.
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by 1miccza: 10:15am On Dec 22, 2015
For the first time in history and geography she has said the right thing.. Prrrrrraaaaiiiiiisssseee the Loooooorrrrddd!!!!!!!!!!
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by olagamalin(m): 10:16am On Dec 22, 2015
sholatech:
She blames the Cbn Governor and not the administration?

Lmao ....So it's buhari's faulty .....kindly explain
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by AngryNigerian(m): 10:20am On Dec 22, 2015
Nõ too rush...we know that you have been interested in that position
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Hiploko(m): 10:21am On Dec 22, 2015
kings09:
If Buhari had appointed dis woman, u ll say it's because of d BBOG campaign, nw he ddnt appoint n u r still lookin 4 sumtin 2 talk abt. Am sure u dd same wit Amaechi till he was made minister. Ur type can never be pleased n wld nt like 2 see any gud in dis govt. Beta change ur mindset n wish d govt well cos all Nigerians will enjoy. #PrayFor9ja
I am in a gud mood now, I for tell you something. How has all you have typed reduced the pain of the girls or re-united them with their families? Did you see anything gud with GEj's government even when it is obvious his government is better than what we have now? My anger don dey rise!!! No fuel,money,light,water,salary,security,direction,crashing Naira,absolute silence from the govt, highly clueless governance,load of say and denials and you are talking abt government been gud. Now you want to remove subsidy but you occupied Nigeria against GEJ in 2012. Don't you guys have shame and conscience @ all Goshhhh

1 Like

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by mbulela: 10:21am On Dec 22, 2015
sholatech:
She blames the Cbn Governor and not the administration?
Seems you have forgotten that the cbn is meant to be autonomous. The onus tests on its governor to maintain his autonomy even at the risk of a sack.
I have heard Emefiele speak at different times and he does not inspire confidence. No deep economic insight. Very pedestrian commentary that makes you wonder if we are not better served by strictly God's grace and sheer luck.
Listen to other reserve Bank governors. Their speeches are measures, in-depth and far reaching. Here we just have flavour of the month retail bankers masquerading as economists.

For the records, I had same problem with SLS.

2 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by AngryNigerian(m): 10:24am On Dec 22, 2015
Visocrate:
this is your father land you must not be a CBN governor before you write a proposal and forward to the federal government on how the economy can stabilize and to regain its status not to be pointing fingers of incompetency to the Emefield

That is the New Nigeria, where one sits on the fence telling us how we all got it wrong, & s/he is the only one that could "cure our craze" but would never feel like helping out!!!
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by kings09(m): 10:25am On Dec 22, 2015
Wchever way. If she z given an appointment tmoro, u ll still talk. Even if d gals r found, am sure u ll say buhari hid dem. Ur type na sumtin else. #Ignored
Hiploko:
I am in a gud mood now, I for tell you something. How has all you have typed reduced the pain of the girls or re-united them with their families? Did you see anything gud with GEj's government even when it is obvious his government is better than what we have now? My anger don dey rise!!! No fuel,money,light,water,salary,security,direction,crashing Naira,absolute silence from the govt, highly clueless governance,load of say and denials and you are talking abt government been gud. Now you want to remove subsidy but you occupied Nigeria against GEJ in 2012. Don't you guys have shame and conscience @ all Goshhhh

1 Like

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by chyket(m): 10:28am On Dec 22, 2015
All sincere economists in this forum know that what this woman is saying is the truth.You must have the courage to do what is needful to move forward.Under this CBN Governor,there has been so much policy summersalt that no sane business man can plan.You take off for a business trip and before you get to your destination,the foreign exchange policy has changed and you are stranded.The President should reappraise this current CBN Governors decisions.

2 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by chernest2002: 10:29am On Dec 22, 2015
Since chibok nonsense this is the only time oby is making sense, maybe because she was not given portfolio by Gmb so she now comes back to her senses
Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by wirinet(m): 10:30am On Dec 22, 2015
Bevista:
I initially supported the actions of the CBN governor because I thought the measures were temporary and stop-gap until the president sets up his cabinet. However, it now looks as it's going to be something more permanent.

This would be the most ridiculous form of capital control in the 21st century. CBN has effectively unplugged Nigeria from the international payment system by trying desperately to artificially prop up the value of the Naira.

While there may be some benefits to this, I do strongly think that there will be long term unintended consequences from these actions. There are many ways of protecting the foreign reserves. Just allow the damn currency to float and the market will sort itself based on demand and supply! We are a completely import-dependent economy, where even business and manufacturers have foreign currency inputs in their value chain. If these group cannot find FX to support their businesses, then job losses will just increase. If the FX restrictions are to encourage local consumption, then we want to hear clear policy issues and plans on how to make that happen.

At the very minimum, the CBN should tell Nigerians what exactly they are trying to achieve with their policy position and what REALISTIC options are on the table for Nigerians pending when things normalize. Their deafening silence is either a sign of disrespect to the citizens or crass ineptitude on modern monetary policies.

I'm not a big fan of bankers running the Central Banks, anyway. Just get a proper economist to do the job!

I am also not an economist, so i am a bit confused about the whole forex policy. First, we have to admit that the naira had never been left to market forces, it has always been propped up by the CBN for political expediency. Under previous governments, the CBN had enough dollars to artificially prop up the naira due to crude selling at record prices, the CBN even permitted oil companies to sell dollars in the open market. But as we are aware the Jonathan administration did not make any savings and he also spent a large chunk of previous savings ( both foreign reserves and excess crude account), with oil prices now in the $30's. There is just no dollars to prop up the naira. The only option left is to either to bow to market forces or restrict the demand for dollars. Now, that is putting Nigeria's economy between the devil and the deep blue sea, how can we allow the naira to float on the open market when we have nothing to stop or control it. We import over 90% of what we consume including fuel, and we export only one control commodity - crude oil, which is presently just above $30 per barrel. If allowed to float, where will it stop?, N400 to the dollar, N500 or even N1,000? It is anybody's guess. On the other hand, controlling the naira would hurt importers and stifle business, leading to further economic problems.

If only we start producing instead of only consuming, then things would be more manageable.

3 Likes

Re: Oby Ezekwesili Blasts CBN Governor Emefiele For Fixing Exchange Rate by Hiploko(m): 10:36am On Dec 22, 2015
kings09:
Wchever way. If she z given an appointment tmoro, u ll still talk. Even if d gals r found, am sure u ll say buhari hid dem. Ur type na sumtin else. #Ignored
have u other options that clicking ignore? When you are talking rubbish. Power is in your hands now. Rule! Rule!! Rule!!! Provide all you promised during campaign. Probe,jail,sanction all you want that's why you have ALL the power. To us ordinary Nigerians, *give us the good life you used in wooing us to vote for APC*. If not the divine punishment of lies will befall all of you.. Scam!

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