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Nairaland Forum / Nairaland / General / Business / Economy Bleeds As CBN Pursues Elusive Naira Stability (11809 Views)
Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs / How I&E Forex Window Buoyed Naira Stability With $50bn Inflows / Illegal Dollar Evacuation To Dubai Threatens Naira Stability-gwadabe (2) (3) (4)
Economy Bleeds As CBN Pursues Elusive Naira Stability by Islie: 7:37am On May 29, 2017 |
As the Central Bank of Nigeria steps up efforts to achieve naira stability through the convergence of the official and unofficial exchange rates, http://punchng.com/economy-bleeds-as-cbn-pursues-elusive-naira-stability/ lalasticlala |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by itiswellandwell: 7:41am On May 29, 2017 |
Hmmmm. Anyhow wey the economy be. We shall survive by his grace. The link below might interest you anyway. https://www.nairaland.com/3657298/low-start-up-capital-business 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Lifestone(m): 7:43am On May 29, 2017 |
The gap between the multiple exchange rates will give room for rent seeking that will continue to hurt the economy. Its a shame that Nigeria still import such high volume of fuel consumption with direct implications on our daily living if it's price is increased for any reason. As it is now we are in a catch 22, the convergence will come.but it will take more time. 2 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Saintbonnie(m): 7:45am On May 29, 2017 |
It's my birthday today. Please show me love 27 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Nobody: 7:46am On May 29, 2017 |
Economy bleeds and the person in charge of CBN keeps churning out retarded decisions. We are not ready. 2 Likes 1 Share |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by massinola(m): 7:46am On May 29, 2017 |
OK oh |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Hillarie(m): 7:47am On May 29, 2017 |
We will survive to participate in the 2019 Elections 10 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by sankky: 7:47am On May 29, 2017 |
Blame all the economic results of the current government's idiotic policies on the previous government. At least that is the current National anthem for zombies.because this is no news to even a half intelligent baby. 24 Likes 1 Share |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by generaluthman: 7:48am On May 29, 2017 |
CBN and monetary issues |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by jetroolowole(m): 7:48am On May 29, 2017 |
I will read this later. I have had to pay N400 to $1 to pay for my hosting renewal. 3 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Jaideyone(m): 7:49am On May 29, 2017 |
too long assuming the ineffectual mor0n didn't squander our money our reserves should be at least 100b now. there would have been more than enough to defend the naira 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Ptown(m): 7:50am On May 29, 2017 |
All I see is possibilities.God Bless Nigeria 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Nobody: 7:50am On May 29, 2017 |
I will continue to say that Nigeria is not in economic recession but in policy recession. In life, there is always two alternatives in everything and I am sure of that. Corruption has crippled our government system and this corruption seem to be permanent because of the Northern Elders(this is clear to all). Why not leave corruption and use the second alternative so that citizens will have a good life. I always use the case of Dangote as an example. He is the African richest man due to the fact that the government stopped the importation of Cement from overseas and handed it over to him to monopolize. Now single handedly, Dangote has like ten other companies and about to finish his refinery. So will soon be refining our oil. So far, him companies has employed more than 500 thousand workers in Nigeria out of 200 million citizens. Now , why not our government forget about all money looters and give pardon to them so that they will use the money to build companies that will give them more money, great jobs and help the economy. Why not government ban for example the importation of cars or increase the tax of already made cars that is coming into the country by 1000%. This will make only the rich to buy imported cars and due to the 1000% increase in the tax, government will make excess money from car import. This will make the average citizens to buy only innoson cars and soon will make innoson to have branches all over the country. They will have enough room then to be building more parts in Nigeria. This can give 500,000 Nigerians Jobs and with excess income innoson will start a new bigger business and empoly more people just like Dangote. Why not the government ban something like Maize, millets, wheat etc. And irrigate the Northern part. Ban the importation of those crops totally and give the citizens allocation to the land and them paying only for the irrigation. Believe me, we will be number one in the world in terms of agriculture. And this will give employment to millions of Nigerians. Both graduates and none graduates. Instead of people wasting human resources in just a plot of land for one year, the will be engaged to work in acres of land and provide the extreme labour. Rather than using how and matches to waste time in a plot of land for one year The government does not need money to run itself. They only need human resources and good policies. The government of Nigeria only need to spend money on road, electricity, security and good town planning policy. I laugh when people wait for government to provide job for 100 million working class citizens. That cannot happen, but through their policies, Nigeria can be greater than any nation. We the individuals are the people to develop the country, we are the real government. But they do not provide good policies to us. I believed in one Nigeria before because I always see what we can achieve together if we have good government but we have waited for long and situation is getting worse. Hausas has Sharia and with that corruption will not exist in their nation. Ibos do not believe in their leaders and are industrious. With that leaders will strive to make a good name and in turn make a good nation. Yorubas are followers and will follow the Sharia rule and benefits from it. The country is now hopeless and this is the reasons I see Biafra as the last hope 4 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Jaideyone(m): 7:50am On May 29, 2017 |
sankky:the current government has it's own share of the blame. but GEJ didn't save too. oil was selling at 100dollars per barrel and our reserve was falling 2 Likes 1 Share |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by FitnessDoctor: 7:51am On May 29, 2017 |
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Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by FitnessDoctor: 7:51am On May 29, 2017 |
The problem with the leaders is that they are using a black man (African approach) to solve foreign problems... Lets face it, even those educated students go to the foreign countries and you hear them getting accepted into all ivy league schools, because the knowledge of black man is not enough. he might be doing something today which he thinks is right, but it is the worse fail... I think we need refined leaders.. Let me tell you Atiku cannot change this nation.. Just like the same way Buhari brought another form on NYSC through Npower to Nigeria and when 2020 comes Npower will be over and hundreds of thousands will be jobless again and then we start searching for another solution. No need to be in despair this morning... I am going jogging, because no matter the recession I still deserve to look good... Why not join me.. 2 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by dgr8truth(m): 7:52am On May 29, 2017 |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by aolawale025: 7:53am On May 29, 2017 |
The cbn needs to deepen the supply of dollars. Selling dollars to BDCs has made them closed to innovation. Why can't the BDCs work out alliances with money transfer outfits abroad and sell naira to them for dollars for instance. That alone would capture a large portion of the dollar remittances from Nigerians abroad 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Shortyy(f): 7:57am On May 29, 2017 |
In my dream last night, they made Osy the president. |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by abouzaid: 7:58am On May 29, 2017 |
buhari's regime is the only one that does not have a coherent and popular economic policy, he wasted the first six months of his regime without a minister or an economic team, the current minister of finance is totally lost on the job too.bad politics is what killed the Nigerian economy including the hurried implementation of the TSA in order to score cheap political points. |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by abouzaid: 8:01am On May 29, 2017 |
Jaideyone:the current members of apc led by amechi dragged the fg to court to stop the savings, the same thing happened during obasanjo era but nobody mentions his name because he's now in apc. 3 Likes |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Ijaya123: 8:02am On May 29, 2017 |
The CBN governor seem to have lost the capacity to handle that office. |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by smartty68(m): 8:05am On May 29, 2017 |
Lol! I stopped listening to CBN trash a long time ago. The interventions has been futile. Waste 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by smartty68(m): 8:08am On May 29, 2017 |
abouzaid:You become holy that moment you defect from PDP to APC. They're political cohorts who has destroyed the economy of the Nation already. 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Nigeriadondie: 8:16am On May 29, 2017 |
The economic issue of Nigeria doesn't require rocket science. You can do same thing over and over again and expect same result. 1.Legislate laws against corruption making it a death sentence. China is doing it and see what China has become from 1950 as a poor nation to a heavily industrialised nation with millions in d middle class. If u like adopt any economic policies from a team of Nobel lauretes and there are leakages it amounts to zero. 2. Reduce the size and cost of governance. Nigeria is a like a business u spend so much but yields litttle profit. When d federal budget has between 70-75% on recurrent expenditure leaving only paltry 25-30% on capital expenditure and even the little wud still be embezzled or projects for which d monies were allocated wud be half done. Sadly this same is replicated at d state level where all state govt allocate more than half of d budget on recurrent. If d reverse was the case believe it wud translate into job creation and in d long run wealth distribution and improved infrastructure. Top 10 wealthy countries on earth dont spend so much on governace as we do.Check d link below: http://www.economist.com/blogs/graphicdetail/2013/07/daily-chart-12 3: Nigeria needs restructuring. The 36 states will have with have with their individual state houses of assembly is useless. The US that it so big with 6 time zones and has 9,147,950 sq km of land has just 50 states and each state has 2 senators, a total of 100 while Nigeria with a smaller land mass of 923,768 sq km of land, just 1 time zone has 3 senators per state a total of 108 senators. We dont need a bicamaral legislature but a unicameral like what Senegal did. We dont need the 36 states structure with their houses of assembly. Hence, the d system we run is so expensive. 4. Develop agriculture as well as fishing and mechanize it. We dont need farmers in this 21st century to work with cutlass. Also robust storage system that guarantees food security. Also, develop capacity to add value to agric produce by developing technology to convert them to finished product. 5. Educational sector should be developed so we become self sufficient in that area. India, Iran and China are success stories. China has just unveiled it first commercial aircraft that has unnerved US Boeing. India we all know has developed IT, pharmaceutical, medical and ither areas. Iran due to its rivalry with Israel and S. Arabia has aggressively developed it technilogical prowess, launced 3 satelittes in space, advanced missile technology in spite of years of western sanctions yet Nigeria was celebrating pencil and wooden car with keke engine. Universities of Technology, Agriculture not neglecting other conventional universities, polytechnics etc should be well funded, man power trained abroad and brought home, technology transfer with friendly countries. Useless greedy leaders wont think that way even common sense senator Ben Bruce has no sense to think that way https://www.youtube.com/watch?v=t0stJkUWUyM |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by davodyguy: 8:18am On May 29, 2017 |
Who is this alarmist? |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by nkemjacob2(m): 8:20am On May 29, 2017 |
Happy democracy to ur stupid country 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Nbote(m): 8:23am On May 29, 2017 |
All of I still blaming GEJ did u read d post at all or its d default blame mode in u speaking? GEJ also introduced multiple dollar exchange rates where d very connected access dollar for incredible prices as low as 87kobo FOR A DOLLAR unofficially... D same govt dat hoarded dollars now pumping d same dollars into d market and trying to force it down d throats of BDCs? D same govt dat keeps claiming d refineries were now working at various capacities and claimed to have removed subsidy while still paying it in some form to maintain fuel price at 145 afta having shot demselves on d foot? They've gotten most of their major policies wrong and kip going back and forth on dem... Whether any of U want to admit it is ur business but Nigerians now know beta... 1 Like |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Eskdale(m): 8:23am On May 29, 2017 |
jetroolowole:what platform are you using for the hosting |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by professorchuks(m): 8:31am On May 29, 2017 |
smartty68: Wen our incumbent president started in 2015, he removed fuel subsidy, wat is d difference of 145 and 195? He was fighting corruption instead of concentrating on d economy, he did nt even c the reason to stop and tink. He continued killing innocent biafrans, his brothers continued 4rm were he stopped, maiming, raping, kidnapping and killings everywhere by hiS brothers. nobody talks to dem. Buh there is 1 truth, if a fulani man should cross onitsha, Asaba/okpanam, warri and creates havoc there, dey don't escape ooo, they move dem to d bush and butcher dem. Wished all d states culd do Same thing, den that would b d beginning of development in Nigeria |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Nobody: 8:33am On May 29, 2017 |
abouzaid:U dey mind dem |
Re: Economy Bleeds As CBN Pursues Elusive Naira Stability by Repairnigeria(m): 9:00am On May 29, 2017 |
nawa |
Economic Crises Force 300% Rise In Food Prices / GTBank Named 2013 African Bank Of The Year. / Plummeting Oil Prices: LNG Price Slumps By Over 50%
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