ephi123:


Excuse me. Nigeria is not the only country with a Central Bank governor. Other countries do, and we can see how they carry out their functions there.

Dollar is at what price today? Forex changes up and down, economy is tanking and the CBN governor is touring a farm?! This has nothing to do with criticizing, but rather pointing out that he is not focusing on what he is meant to be focusing on otherwise we wouldn't have these whack forex policies we currently have.

So because the economy is down, if he has other secondary duties or events to attend to, he shouldn't do so? Mind you, is diversifying the economy through agriculture not part of the ways to fix the economy? And this is a policy that the CBN has invested billions in, by making funds available to farmers. So inspecting the CBN's investments is not something he should do?

I don't even like Emeifele, but I don't see what the fuss is here? Does he do a tour of the farm everyday?


http://punchng.com/cbn-provides-rice-farmers-with-n4-9bn-loan/

http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html

dabossman:


So because the economy is down, if he has other secondary duties or events to attend to, he shouldn't do so? Mind you, is diversifying the economy through agriculture not part of the ways to fix the economy? And this is a policy that the CBN has invested billions in, by making funds available to farmers. So inspecting the CBN's investments is not something he should do?

I don't even like Emeifele, but I don't see what the fuss is here? Does he do a tour of the farm everyday?


http://punchng.com/cbn-provides-rice-farmers-with-n4-9bn-loan/

http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html

How does his touring this farm change anything? Can he make any decision e.g. decline not to give out loans on the basis of what he sees while on tour (considering this is a federal government project, I guess not). There is a place for delegation. He is yet to make any meaningful policy action with the economy so touring should be the least of his priorities right now.

The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis etc. Mr Emefiele should focus on his primary tasks and delegate.

ephi123:


How does his touring this farm change anything? Can he make any decision e.g. decline not to give out loans on the basis of what he sees while on tour (considering this is a federal government project, I guess not). There is a place for delegation. He is yet to make any meaningful policy action with the economy so touring should be the least of his priorities right now.

The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis etc. Mr Emefiele should focus on his primary tasks and delegate.

And they haven't been doing any of these primary things? Seriously? Gosh, it's all over the news every other month. From the floating of the naira, to raising the MPR, to licensing Travelex, it is clear that some monetary policies are being implemented to try and stabilize the economy and manage inflation. Whether it is yielding the desired results is another thing, and is one of the reasons i don't like the CBN Governor so much, but again I repeat, that doesn't mean he shouldn't attend to other issues.

I'm glad you mentioned DELEGATION. It is a CEO's prerogative to choose what to delegate and when. It also shows that you agree that running the CBN is not a one man show. There are economic strategists within the CBN and Ministry of Finance whose job it is to come up with these policies and report to the head huncho. This is basic management structure. Your argument is like saying because there are many sick and dying patients at LUTH, the Chief Medical Director should not attend a seminar where he is to give a lecture until everyone in the hospital is cured and healthy again because that is his primary function.

The link below shows that Emeifele also delegates. A one day visit to the farm will not cripple the economy.

Emefiele, represented by his Special Adviser on Development Finance, Mr Paul Eluhaiwe said this on Tuesday in Kebbi after inspecting the Wasagu Soya bean project and launching of the dry season farming.
Read more at http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html#6HRLaHVxjVmQ63m7.99

But if fussing on this makes you sleep easy at night, then enjoy.

dabossman:


And they haven't been doing any of these primary things? Seriously? Gosh, it's all over the news every other month. From the floating of the naira, to raising the MPR, to licensing Travelex, it is clear that some monetary policies are being implemented to try and stabilize the economy and manage inflation. Whether it is yielding the desired results is another thing, and is one of the reasons i don't like the CBN Governor so much, but again I repeat, that doesn't mean he shouldn't attend to other issues.

I'm glad you mentioned DELEGATION. It is a CEO's prerogative to choose what to delegate and when. It also shows that you agree that running the CBN is not a one man show. There are economic strategists within the CBN and Ministry of Finance whose job it is to come up with these policies and report to the head huncho. This is basic management structure. Your argument is like saying because there are many sick and dying patients at LUTH, the Chief Medical Director should not attend a seminar where he is to give a lecture until everyone in the hospital is cured and healthy again because that is his primary function.

The link below shows that Emeifele also delegates. A one day visit to the farm will not cripple the economy.

Emefiele, represented by his Special Adviser on Development Finance, Mr Paul Eluhaiwe said this on Tuesday in Kebbi after inspecting the Wasagu Soya bean project and launching of the dry season farming.
Read more at http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html#6HRLaHVxjVmQ63m7.99

But if fussing on this makes you sleep easy at night, then enjoy.

Well, I don't think we are going to agree on this, so fine!

shiftmarket:
Hi, do you have contact with rice dealers in Kebbi where one can buy local rice in bulk?

Been thinking along same line, do you mean milled and bagged? I hav tried making contacts too.
Do you stay in lagos? Let follow this up

ephi123:


How does his touring this farm change anything? Can he make any decision e.g. decline not to give out loans on the basis of what he sees while on tour (considering this is a federal government project, I guess not). There is a place for delegation. He is yet to make any meaningful policy action with the economy so touring should be the least of his priorities right now.

The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis etc. Mr Emefiele should focus on his primary tasks and delegate.

So the interest rate is supposed to be looked at everyday? or the reserve requirement to be monitored everyday? You do what you are supposed to do and believe others too would do their share.


Is dangote always going around to look at all of his businesses everyday?

DaudaAbu:


So the interest rate is supposed to be looked at everyday? or the reserve requirement to be monitored everyday? You do what you are supposed to do and believe others too would do their share.


Is dangote always going around to look at all of his businesses everyday?

Did I infer that the interest rate should be looked at every day in my comment?
What has been the outcome of any economic policies in the last one year + ? With the state of the economy I guess we all know the answer to that.

I am done with this argument. It is my point of view that there are more pressing things Emefiele needs to be doing with his time, no one needs to agree with this.

ephi123:


Well, I don't think we are going to agree on this, so fine!

We obviously can't, but here's a parting gift from me to you though. I'm sure you know Washington D.C is a long way from Brazil. And the World Bank MD must surely have pressing business to handle at his desk and could very well delegate this trip.

Managing Director of the World Bank visits Projects in Brazil

http://www.worldbank.org/en/news/press-release/2015/02/27/managing-director-of-the-world-bank-visits-projects-in-brazil

Do enjoy your evening ma'am.

dabossman:


We obviously can't, but here's a parting gift from me to you though. I'm sure you know Washington D.C is a long way from Brazil. And the World Bank MD must surely have pressing business to handle at his desk and could very well delegate this trip.

Managing Director of the World Bank visits Projects in Brazil

http://www.worldbank.org/en/news/press-release/2015/02/27/managing-director-of-the-world-bank-visits-projects-in-brazil

Do enjoy your evening ma'am.

The World Bank is not managing a single country's economy is it?
Do you understand the impact of people having to struggle to buy basic sustenance (food) with inflation at 17%?

And yet with all this on ground, someone is touring a farm?! Smh

ephi123:


Did I infer that the interest rate should be looked at every day in my comment?
What has been the outcome of any economic policies in the last one year + ? With the state of the economy I guess we all know the answer to that.

I am done with this argument. It is my point of view that there are more pressing things Emefiele needs to be doing with his time, no one needs to agree with this.

Oh shucks, I had to go and see this. The mistake you are making my sister is thinking that formulating monetary policies is the only way to improve the economy. And that is the mistake we have been making for years. We keep moving numbers around, juggling forex rates, interests rates and inflation rates just to try and make the books look balanced. Meanwhile there is no meaningful growth in the real sectors of the economy. No growth in manufacturing/industrial sector, no growth in the power sector, no growth in SME's, no growth in the real things that will improve the economy long term. We just keep juggling numbers for short term remedies that make us think all is reasonably well.

Meanwhile:

FUNCTIONS OF THE CENTRAL BANK OF NIGERIA

To achieve the above objectives CBN undertakes the following functions as stated in the Act. The basic functions performed by CBN can be broadly categorized into three:

(1) Traditional function;

(2) Regulatory functions, and

(3) Developmental functions.

dabossman:


Oh shucks, I had to go and see this. The mistake you are making my sister is thinking that formulating monetary policies is the only way to improve the economy. And that is the mistake we have been making for years. We keep moving numbers around, juggling forex rates, interests rates and inflation rates just to try and make the books look balanced. Meanwhile there is no meaningful growth in the real sectors of the economy. No growth in manufacturing/industrial sector, no growth in the power sector, no growth in SME's, no growth in the real things that will improve the economy long term. We just keep juggling numbers for short term remedies that make us think all is reasonably well.

Meanwhile:

FUNCTIONS OF THE CENTRAL BANK OF NIGERIA

To achieve the above objectives CBN undertakes the following functions as stated in the Act. The basic functions performed by CBN can be broadly categorized into three:

(1) Traditional function;

(2) Regulatory functions, and

(3) Developmental functions.

Informative, thanks.
But at this current moment, the books are not even balanced, see how almost completely useless the naira has been rendered within a period of a year+. Forex policies are changed randomly without any serious consideration prior to implementation. That doesn't give me (or other investors) any confidence in this CBN governor, so it becomes even more annoying seeing him spend valuable time touring a farm, something he could have delegated.

As I said earlier, we do not have to agree.

ephi123:


The World Bank is not managing a single country's economy is it?
Do you understand the impact of people having to struggle to buy basic sustenance (food) with inflation at 17%?

And yet with all this on ground, someone is touring a farm?! Smh

Is the tour of the said farm within his official capacity given the fact that the CBN is a stakeholder in the project? Yes. The problem is you are trying to prioritize the CBN Governors job for him? And that is not within your capacity since you don't manage his schedule. We all know that the economy is bad, but at this rate you are going to ask the poor gentleman not to even go home to his wife at night. I'm sure the man has spent more time since he was appointed working on monetary policies, yet this one visit is why you must crucify him. I can only imagine if the headline had read: CBN Governor attends Daughter's Graduation Ceremony. You would have his head in the guillotine by now. Yet this visit was an official function, not personal. Give it a break sis.

dabossman:



Is the tour of the said farm within his official capacity given the fact that the CBN is a stakeholder in the project? Yes. The problem is you are trying to prioritize the CBN Governors job for him? And that is not within your capacity since you don't manage his schedule. We all know that the economy is bad, but at this rate you are going to ask the poor gentleman not to even go home to his wife at night. I'm sure the man has spent more time since he was appointed working on monetary policies, yet this one visit is why you must crucify him. I can only imagine if the headline had read: CBN Governor attends Daughter's Graduation Ceremony. You would have his head in the guillotine by now. Yet this visit was an official function, not personal. Give it a break sis.

What he does with his personal time is his entitlement.
All I know is this economy is currently not working!
There is surely nothing to point out showing any tangible time working on monetary policies.

ephi123:


Informative, thanks.
But at this current moment, the books are not even balanced, see how almost completely useless the naira has been rendered within a period of a year+. Forex policies are changed randomly without any serious consideration prior to implementation. That doesn't give me (or other investors) any confidence in this CBN governor, so it becomes even more annoying seeing him spend valuable time touring a farm, something he could have delegated.

As I said earlier, we do not have to agree.

I agree with you that things are not going very well and it's painful for most of us. I would rather attack the man on that, rather than picking on him for a matter like this visit. If he wants to visit his girlfriend in the village in his spare time that's his business. I will attack him on what he is doing about the economy instead. And like I said, this visit was part of his job, even if it is a secondary function.

ephi123:


What he does with his personal time is his entitlement.
All I know is this economy is currently not working!
There is surely nothing to point out showing any tangible time working on monetary policies.

It's going to take more than monetary policies to fix this mess. That's the plain truth. We need to go back to the basics.

dabossman:


I agree with you that things are not going very well and it's painful for most of us. I would rather attack the man on that, rather than picking on him for a matter like this visit. If he wants to visit his girlfriend in the village in his spare time that's his business. I will attack him on what he is doing about the economy instead. And like I said, this visit was part of his job, even if it is a secondary function.

Okay oh, I've heard.

QuotaSystem:
Kebbi State is leading in the agricultural revolution embarked upon by the Buhari administration, this is to the credit of the intelligent and visionary leader at the helm, Governor Bagudo.

To those asking about the diversification efforts of the Buhari government, this is just a glimpse. Developing agriculture does not mean total abandoning of oil, and I foresee a rebirth of Arewa and Nigeria as a whole with these efforts to increase our oil and agricultural output.

God bless Nigeria.

God bless Nigeria

zuby4real10:
proudly an indegene of kebbi. The largest producer of rice in Nigeria. We feed the nation.

Mk we hear word hare,ur total production can't feed Lagos alone.

QuotaSystem:
Kebbi State is leading in the agricultural revolution embarked upon by the Buhari administration, this is to the credit of the intelligent and visionary leader at the helm, Governor Bagudo.

To those asking about the diversification efforts of the Buhari government, this is just a glimpse. Developing agriculture does not mean total abandoning of oil, and I foresee a rebirth of Arewa and Nigeria as a whole with these efforts to increase our oil and agricultural output.

God bless Nigeria.

Okay seen... Hope garri will sell for 10Naira a cup before he leaves office

Hi Dauda, I am in lag, yes lets follow this up.

DaudaAbu:


Been thinking along same line, do you mean milled and bagged? I hav tried making contacts too.
Do you stay in lagos? Let follow this up

DaudaAbu:


Been thinking along same line, do you mean milled and bagged? I hav tried making contacts too.
Do you stay in lagos? Let follow this up

Please throw more light on this. What about this November/December to cash in on the xmas/ new year period?

ishayaauta:

it will be better if you are on site...
Heads up: best time to purchase your rice will be next Year March, after irrigation harvest come with your truck to yauri precisely thank me later...
Yeah proudly from kebbi.

ishayaauta:

there is quite a competition there, I can assure you, that you can get a better deal. now this also depends on some factors....

What are the factors. Pls hw can i go there from phc

shiftmarket:


Please throw more light on this. What about this November/December to cash in on the xmas/ new year period?

The price would have gone up by then...however it will not be as expensive as where you are.
Are you buying the processed one? if yes I think it now sells @ 15-16k per bag local should be way cheaper

fiizznation:
Clueless CBN governor. I still don't know why buhari haven't fired his clueless ass.

He is helping buhari's brothers in their dollar business and bubu is pleased with him

obakovich:

What are the factors. Pls hw can i go there from phc

Get a car heading to sokoto state, from there board the car heading to alieru...
We have vast land here, to get a better deal you can chose any of the following method:
1. Meet with different local farmers and bargain with them, agree to pick their produce in the field this of cause will cot down their cost.... and is surely cheaper
2. Meet trust worthy farmers lease a land keep an assistant on site they will handle your farm but they will get a percentage when you harvest...hmmm if you have patience and a trust worthy steward why not
3. Invest in some one with a vision in agric (risky but its worth it), sign a m.o.u that puts 94% of the risk on him, make sure its a five to ten year contract. ensure the person have a business plan with growth/feasibility sturdy...
know the persons family and he most have a guarantor. this makes you like an angel investor.

Option 2 looks like a nice one. Who does the milling?

ishayaauta:

Get a car heading to sokoto state, from there board the car heading to alieru...
We have vast land here, to get a better deal you can chose any of the following method:
1. Meet with different local farmers and bargain with them, agree to pick their produce in the field this of cause will cot down their cost.... and is surely cheaper
2. Meet trust worthy farmers lease a land keep an assistant on site they will handle your farm but they will get a percentage when you harvest...hmmm if you have patience and a trust worthy steward why not
3. Invest in some one with a vision in agric (risky but its worth it), sign a m.o.u that puts 94% of the risk on him, make sure its a five to ten year contract. ensure the person have a business plan with growth/feasibility sturdy...
know the persons family and he most have a guarantor. this makes you like an angel investor.