The Naira And 10 Questions For Gov. Emefiele. - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / The Naira And 10 Questions For Gov. Emefiele. (1134 Views)
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| The Naira And 10 Questions For Gov. Emefiele. by 989900: 9:54am On Feb 05, 2016 |
The current situation (helpless slide/depreciation of the Naira), cannot cease to be a big case for worry for those who truly can grasp the enormity of this catastrophe -- impoverishment! Unfortunately, most of do not realize the magnitude of this malady. If the gov't were to increase PMS pump price to N120/litre tomorrow, or reduce minimum wage from N18,000 to N9,000, we would have taken to the streets -- but that's what just basically or 'technically' (Mr. Lai I see you) happened. In order to keep this as short as possible (avoid writing a book), especially with our "too long can't read" cousins in mind, I'll express my thoughts in form of questions to the CBN governor or those that can help him answer the following (of course we know fall in oil prices and 'yada, yada, yada'): 1. If demand and supply basically control the exchange rate, why is it that, despite the reduction in foreign expenditure from our Nigerian bank accounts from $3,000 daily to averagely $300/day has had no effect in curbing the 'unabated-downward-spiral' of the Naira? 2. Why is the CBN in bed with commercial banks bleeding the people dry? Why would they get dollars at N199 and charge us at N280-N300 (roughly a profit of N100,000 on every $1,000)?! 3. Why is the FG (PMB) and CBN (Gov.Emefiele) abetting arguably the greatest instigator of excess liquidity (the constant substitution of Naira allocations for dollar denominated revenue). https://www.nairaland.com/844884/solution-fuel-subsidy-wahala-look Read more at: http://www.vanguardngr.com/2014/08/much-talk-dollar-certificates/ http://thenationonlineng.net/counting-cost-of-treasury-single-account/ 4. Can the CBN Governor kindly explain to us: how going from paying N2.6 trillion for petroleum products subsidy, to paying nothing, to actually making excess of N16 on every litre of PMS sold/bought has had no psitive impact in propping the Naira? 5. If we truly enjoy a bit of better power supply than say 1-2 years back, do we still consume the phantom, "imported 40 million litres of PMS/day"? If not, how has this helped, or not helped the demand and supply brouhaha of the Naira vs Dollar hide and seek? 6. If we truly are tackling corruption head-on, and the customs service is doing a better job (checkmating refined products smuggling across our borders and e.t.c.) than 1-2 years back, do we still consume the phantom, "imported 40 million litres of PMS/day"? If not, how has this helped, or not helped the demand and supply brouhaha of the Naira vs Dollar hide and seek? 7. If truly our refineries are working to the recently publicized capacity, do we still consume the phantom, "imported 40 million litres of PMS/day"? If not, how has this helped, or not helped the demand and supply brouhaha of the Naira vs Dollar hide and seek? 8. If the BDCs are being 'dealt with', what alternative positive measures have you Mr. Governor put in place . . .? 9. If you Mr. Governor are no longer getting orders from the present C-in-C to disburse them dollars to them Dasukis, and with the implementation of proper accounting of remittances from NNPC and others, why is it not helping the Naira? 10. Lastly, why would you preach 'agric', but say 'agric' does not need power supply to practice? Duh  3 Likes 2 Shares |
| Re: The Naira And 10 Questions For Gov. Emefiele. by Nobody: 10:05am On Feb 05, 2016 |
These are salient points that Nigerians need to ask but we are still playing politics with our collective lives. The govt needs to be proactive and halt this continuous slide in naira because the manufacturing and other sectors are taking a big hit 2 Likes 1 Share |
| Re: The Naira And 10 Questions For Gov. Emefiele. by omarithmetics: 10:24am On Feb 05, 2016 |
Thank you good Sir! 1 Like |
| Re: The Naira And 10 Questions For Gov. Emefiele. by 989900: 2:44pm On Feb 05, 2016 |
PROVACATEUR: The economy is sinking fast; the people impoverished! |
| Re: The Naira And 10 Questions For Gov. Emefiele. by Viktor1983(m): 7:46am On Feb 16, 2016 |
Anyone Noticed the increase in crime yet? The good thing about hunger is that it knows not your tribe, religion, political views et al. 2 Likes |
| Re: The Naira And 10 Questions For Gov. Emefiele. by uzolexis(f): 10:02am On Feb 16, 2016 |
Viktor1983:the bad thing about hunger is that only the masses would suffer it. The politicians that put us in this mess are shielded from it sadly  2 Likes |
| Re: The Naira And 10 Questions For Gov. Emefiele. by Nobody: 10:34am On Feb 16, 2016 |
@OP - I concur with your analysis. Aside from the Anti-Corruption campaign, PMB is getting it wrong and I am very worried. 1 Like |
| Re: The Naira And 10 Questions For Gov. Emefiele. by 989900: 11:02am On Mar 25, 2016 |
The CBN is a cesspit of fraud. |
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