Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,155,228 members, 7,825,890 topics. Date: Monday, 13 May 2024 at 05:17 AM

Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor (33642 Views)

What You Need To Know About CBN’s Lifting Forex Restriction On 43 Items / Godwin Emefiele: February 10 Deadline On Old Naira Notes Stands / Five Things You Didn’t Know About Bitcoin, Other Cryptocurrencies (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by Adetunji109: 9:01pm On May 17, 2019
So now that we know, should we fry beans? angry
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by victorazyvictor(m): 9:02pm On May 17, 2019
Gforce2019:


Stop deceiving yourself. He is not in your league...
Go and work hard... and stop joining yourself to some successful people through birthday month...


Brainless dude

Your mama brainless grin
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by grandstar(m): 9:16pm On May 17, 2019
iammo:



The rice revolution policy simply targeted how Nigeria could stop giving our oil sales dollars and forex to rice importers. prior to january 2015 the rice import bill stood at a stagering $665.4 million . this simply means the more we sell crude oil we just buy consumables and food staples.

changing that emeifiele started using unused money with the CBN to give soft loans to farmer (anchor borrowers program) and people intrested in building an owning a rice milling plant. and he stoped giving out our forex to rice importer and he told them to source their dollars else where.

as we stand today rice import bill is almost 10% of what it use to be and the money is going into other sectors

There was absolutely nothing wrong in importing rice. The problem has never been producing rice. The problem is producing it competitively. The country has no comparative advantage in rice production

So in order to produce rice, what does the government do? Let's say the imported bags sells for 9,000 and the local sells for 15,000, government decides to place N8,000 duty on the imported rice raising the price to N17,000. This now makes the local rice at 15,000 cheaper and people start buying the local one.

The question is how does a product that should be selling for 9,000 and now 15,000 help the consumer? The consumer is being fleeced!

Countries do best when they pour resources in areas they have comparative advantage.

Shea butter alone can earn up to $2bn in exports for Nigeria. That alone can take care of all rice imports.

We are yet to discuss benniseed, snails, cashew nuts and w host of other agricultural products.

2 Likes

Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by grandstar(m): 9:23pm On May 17, 2019
iammo:


i beg to defer, it was only his tenure that the non oil sector actually grew, since they have been scaming us with diversification since 1999

What you're saying is absolutely false..

How then did the oil sector account for less than 15% of the economy by 2015.

If we take the manufacturing sector alone, capacity utilisation was around 28% in the 1990's. By 2014, it was around 55%.

Then what would you say about the telecoms sector alone? From 400,000 lines in 1999 to over 100m by 2014.

In the hospitality sector, many Protea hotels sprang up, a four point, a Radisson and the Oriental hotel in Lagos. This is Lagos alone. We've not added Port Harcourt, Abuja or Kano.

Non oil exports even increased only that there are no proper records. I suspect non oil exports are more like $20bn a year. There's so much unrecorded activity.

1 Like

Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by lexy2014: 9:29pm On May 17, 2019
iammo:



The rice revolution policy simply targeted how Nigeria could stop giving our oil sales dollars and forex to rice importers. prior to january 2015 the rice import bill stood at a stagering $665.4 million . this simply means the more we sell crude oil we just buy consumables and food staples.

changing that emeifiele started using unused money with the CBN to give soft loans to farmer (anchor borrowers program) and people intrested in building an owning a rice milling plant. and he stoped giving out our forex to rice importer and he told them to source their dollars else where.

as we stand today rice import bill is almost 10% of what it use to be and the money is going into other sectors

Is there a "rice revolution policy"? What does d policy state? How much imported rice was Nigeria consuming in 2015 compared 2019? D rice importers u talked about are they still not sourcing 4 dollars 4 importation without d help of d CBN? Was Nigeria producing rice b4 2015?
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by tpalan(m): 9:53pm On May 17, 2019
IamSoProlific:
Nairaland is as good as dead, imagine what we have here as news.

Whereas, bunch of informative topics are lying dumb in various sections.

I wish I be yahooboy, Nairaland is the very first site I will hack, then turn it into a pornsite so that it will be obvious that the site is dead.

Rubbish....

You vex gan o
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by IamSoProlific: 10:00pm On May 17, 2019
ifada123:


Don't wish u are a yahoo boy they are not that intelligent as you taught,
They can't pull such string, if you really want to render niaraland useful for porn alone you know how to contact,
But can you pay?

I honestly wouldn't mind to learn ooo, not for fraudulent reasons but to help crown Nairaland what it craves for.
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by HabaHaba: 10:14pm On May 17, 2019
hisexcellency34:
Who cares. Re-appointing the dullard for another 5-year tenure is the worst decision ever made by President Muhammadu Jubril Al Sudani.

Emefiele eye service no be here ooo.Even heard he has converted to Islam and gave Miyetti Allah N100b

Bros, he's a Banker. A Banker is a corporate prostitute - all the money. Don't blame him, Zenith Bank staff thrive on unnecessary Eye Service. If you can not do eye service, you can't be promoted to enjoy other benefits.

Ask my Zenith Bank friend.

As ta LA Vista baby.
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by HabaHaba: 10:15pm On May 17, 2019
hisexcellency34:
Who cares. Re-appointing the dullard for another 5-year tenure is the worst decision ever made by President Muhammadu Jubril Al Sudani.

Emefiele eye service no be here ooo.Even heard he has converted to Islam and gave Miyetti Allah N100b

Bros, he's a Banker. A Banker is a corporate prostitute - all about the money. Don't blame him, Zenith Bank staff thrive on unnecessary Eye Service. If you can not do eye service, you can't be promoted to enjoy other benefits.

Ask my Zenith Bank friend.

As ta LA Vista baby.
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by ProfessorHank: 10:27pm On May 17, 2019
id911:
I particularly don't like someone from the Banking sector heading the CBN. I prefer a core economist

There's a sensible person in nairaland politics!!!
This is unbelievable.
You're great for post.
The central bank is not for bankers.
It's for economists.
But Nigerian government doesn't care a bit.
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by Gforce2019: 11:13pm On May 17, 2019
victorazyvictor:


Your mama brainless grin

Stupid THiNG
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by Franking: 11:42pm On May 17, 2019
His home town is Ika South? Olodo.
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by Mysselff2: 7:34am On May 18, 2019
iammo:
cool


No15 ; If not for his uncelebrated wisdom as a finance guy, Nigerian currency would have been as useless as that of Venuzuela or Zimbabwe, when the goverment suddenly devalued the Naira because Of dweddling Global oil Price.

No16 ; The Rice Revolution Celebrated by Lai muhammed and Audu Ogbeh was largely succesfull because of Emeifele's CBN anchor borrowers program

No17 ; he is Under Celebrated because he isnt an alarmist like Sanusi who gave baseless allegation of a missing $50billion in an economy like Nigeria, or prof Soludo whose Bank recapitalisation exercise was so publicised, you'd think it wasnt the normal thing to do


FACT BRO
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by victorazyvictor(m): 8:27am On May 18, 2019
Gforce2019:


My papa na Stupid THiNG
That's good grin
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by FhukaFhuka: 8:31am On May 18, 2019
hisexcellency34:
Who cares. Re-appointing the dullard for another 5-year tenure is the worst decision ever made by President Muhammadu Jubril Al Sudani.

Emefiele eye service no be here ooo.Even heard he has converted to Islam and gave Miyetti Allah N100b

Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by id911(m): 10:12am On May 18, 2019
ProfessorHank:


There's a sensible person in nairaland politics!!!
This is unbelievable.
You're great for post.
The central bank is not for bankers.
It's for economists.
But Nigerian government doesn't care a bit.

It's unfortunate bro... Even the highly educated ones always support abnormally in the system. It's appalling

1 Like

Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by Gforce2019: 6:51pm On May 18, 2019
victorazyvictor:

That's good grin

The thunder wey go destroy your entire linage dey come with private jet. Within 2 minutes he don your entire generation commot for this earth.
Child of an harlot
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by victorazyvictor(m): 6:54pm On May 18, 2019
Gforce2019:


The thunder wey go destroy my entire linage dey come with private jet. Within 2 minutes he don all my generation commot for this earth.
Child of an harlot

grin wow!
Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by Gforce2019: 9:48pm On May 18, 2019
victorazyvictor:


grin wow!


O.ni kuure. Moto lo.ma pa e. Oloriburuku . Omo ale jati-jati

1 Like 1 Share

Re: Godwin Emefiele: 13 Things You Probably Didn’t Know About CBN Governor by ProfessorHank: 5:09pm On May 19, 2019
id911:


It's unfortunate bro... Even the highly educated ones always support abnormally in the system. It's appalling

The B that is inside CBN confuses half-educated elites.
Once they see BANK inside the name they go .... "yeah it's for bankers".
Nope!
The CBN is not designed to collect money deposit for profit entities like businesses and individuals.

The CBN is in charge of controlling the number of Naira notes and number of coins in the country.

It also makes macroeconomic policies.
It makes macro policies by controlling the quantity of money. It also controls quantity of money by making macroeconomic policies for government.

And in between is a very delicate process.

Professionals in Banking and Finance are trained for commercial banking and private business.

Commercial banks collect deposits from individuals and biznesses and gives loans to same at an interest, hence making profit(forget the theft going on in Nigeria banks in the name of corporate adjustments).

So tell me what a commercial banker is doing at CBN?
I spit on Nigeria's grave!

(1) (2) (3) (Reply)

Successful Businessman Shares His Personal Secret To Success / If I Die.... Is Elon Musk's Life Under A Threat? / Why We Should Reject The N10,000 Withdrawal Limit

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 36
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.