Yup…Courtsey of Meffy…

Imf is calling

adisabarber:
You pushed for floating of the Naira, it failed. Now you are saying another thing

That's the greatest tragedy to befall Nigeria since the civil war - floating the naira. The IMF and the World Bank has been edging Nigeria to float the Naira (remove all subsidies and open our ports) since the time of IBB. They achieved this through Tinubu. Once the dollar has crossed the N1000 mark, the next mark is N2000. I predict it to hit that mark within the first term of Tinubu. At the rate the naira is falling, it might make it in 2 years.

NotMagicBishop:
Courtesy of that bastard Emefile who printed over #30 trillion naira from thin air to float the dissatrous bandit government of Buhari.

Did you vote for Emefiele? Who did you vote for that hired him? You voted an incompetent fool and now you are coming here to cry?

The pox take you.

soccerlite:


Stupid, wicked, satanic, organisation

Have you given US such advice?

USA that is a producer nation?

USA exports diversified products. That's why they have the cash. We just export oil, and the oil we sell yields a revenue that isn't enough for half our population, and that is before looting comes in.

Pure crap!



Wittyness

They are correct, some Nigerians now gamble with the dollar as a way of doing business. They buy the dollar and keep for a while, then sell to make profit

ogbonti:
I have said this ten times already here

Tinubu is printing trillions of naira and using it to buy dollars to loot - that’s why the naira is dying steadily- 😟

More like what Buhari did. Not Tinubu.

NotMagicBishop:
Courtesy of that bastard Emefile who printed over #30 trillion naira from thin air to float the dissatrous bandit government of Buhari.

Where did Emefiele leave the exchange rate? Fools blame every other person except himself and his A members

3seriez:
Emefiele did not know Jack. Man was just using our economy for some trial and error economics.

But when Emefiele implemented cashless policy we all hurled insults at him. He was right after all.

Jcomtrader:
Any smart Nigerian better start saving jn usdt and usdc crypto
Your currency is dying
Inflation has wiped any salary raise in the last 10 years

Best way is to earn in dollars not to save in dollar. So earn in dollars before you save in dollars
Na person wey get money dey save oo

Caused by unpatriotic officials

Voodoo economist

Causing pain everywhere.

wirinet:

That's the greatest tragedy to befall Nigeria since the civil war - floating the naira. The IMF and the World Bank has been edging Nigeria to float the Naira (remove all subsidies and open our ports) since the time of IBB. They achieved this through Tinubu. Once the dollar has crossed the N1000 mark, the next mark is N2000. I predict it to hit that mark within the first term of Tinubu. At the rate the naira is falling, it might make it in 2 years.

When a leader refuses to practice common sense economics, that is what will happen. Whatever you read in school has to be balanced with common sense. Floating the Naira when we are currently servicing debt with almost all our forex earnings is nothing short of foolishness.

3seriez:
Emefiele did not know Jack. Man was just using our economy for some trial and error economics.

The man who took it from N450 to N770 in 4 month is a genius, don't mind uncle meffy.

adisabarber:
You pushed for floating of the Naira, it failed. Now you are saying another thing

The naira floated for just a couple of days. That was when the parallel market rate and the official market were the same. After that, they started intervening both by selling dollars at ridiculous prices and also later, by restricting the bids on the market. So it was just a devaluation in the end.

Seun:

https://www.youtube.com/watch?v=It2zHSJBZns

During an interview with Arise TV, the IMF rep for Nigeria said that "a lot of the focus" on ending the free fall of the naira "should also happen on the supply of naira, not only on the supply of foreign exchange". He said that there is a need to "tighten monetary policy; to take liquidity out of the system."

He said, "there are too many nairas chasing yet too few dollars. As I have alluded before, in previous conversations.
It is very important to reduce the amount of nairas, reduce the growth rate of money supply domestically in Nigeria."

"In parallel also, fiscal policies should cease to rely on the Ways & Means."

"All the operations of the central bank that are not conducive to reigning in liquidity, phasing out financing of the fiscal deficit of the government, focusing on price stability, tightening monetary policy is going to be needed."

"It's costly - it doesn't come without a price, but it's a price worth paying."

Recall that Sanusi said the same thing and Bismarck Rewane has been calling for monetary tightening for years.

When did IMF start meaning good for our economy?

wirinet:

That's the greatest tragedy to befall Nigeria since the civil war - floating the naira. The IMF and the World Bank has been edging Nigeria to float the Naira (remove all subsidies and open our ports) since the time of IBB. They achieved this through Tinubu. Once the dollar has crossed the N1000 mark, the next mark is N2000. I predict it to hit that mark within the first term of Tinubu. At the rate the naira is falling, it might make it in 2 years.

Before Tinubu the official market was practically nonexistent. Nobody could access forex. Floating isn't the problem. It's demand and supply.

mycar:

Where did Emefiele leave the exchange rate? Fools blame every other person except himself and his A members

Ohu, Emefile's exchange rate was not realistic.

Raskimonojendor:
Nigerians obsession with US dollars.

5/6

BloomingDale:


Did you vote for Emefiele? Who did you vote for that hired him? You voted an incompetent fool and now you are coming here to cry?

The pox take you.

Who voted Tinubu?

Bloomingdale don't let me call you an Ohu for I know you are not one

Seun:

https://www.youtube.com/watch?v=It2zHSJBZns

During an interview with Arise TV, the IMF rep for Nigeria said that "a lot of the focus" on ending the free fall of the naira "should also happen on the supply of naira, not only on the supply of foreign exchange". He said that there is a need to "tighten monetary policy; to take liquidity out of the system."

He said, "there are too many nairas chasing yet too few dollars. As I have alluded before, in previous conversations.
It is very important to reduce the amount of nairas, reduce the growth rate of money supply domestically in Nigeria."

"In parallel also, fiscal policies should cease to rely on the Ways & Means."

"All the operations of the central bank that are not conducive to reigning in liquidity, phasing out financing of the fiscal deficit of the government, focusing on price stability, tightening monetary policy is going to be needed."

"It's costly - it doesn't come without a price, but it's a price worth paying."

Recall that Sanusi said the same thing and Bismarck Rewane has been calling for monetary tightening for years.

It'S very big lie ,
The amount of dollar that enter into Nigeria especially through yahoo yahoo is very huge.

Cant we switch to Chinese currency since we trade with each other alot, this dollar matter na wahala o.

Well in my layman thinking sha.

Yawn.... !

iCauseTrouble:
I am so happy that I am lucky to be earning in dollars.
I have been supporting a project annually with 1 million naira since 2021.
In 2021, I exchanged $1,820 for 1 million naira at the rate of N550.
In 2022, I exchanged $1,388 for 1 million naira at the rate of N720.
In 2023 (Just yesterday), I exchanged $1,000 for 1 million naira at the rate of N1000.
These people are happy that I am a loyal funder of the project by giving 1 million naira yearly but they do not know that the value of the money has really dropped due to the Naira / Dollar exchange rate.
I just smile each year when I am about to donate

Boss, please no amount is too much sir, if it's 500 naira, i will gladly appreciate 🙏🙏

iCauseTrouble:
I am so happy that I am lucky to be earning in dollars.
I have been supporting a project annually with 1 million naira since 2021.
In 2021, I exchanged $1,820 for 1 million naira at the rate of N550.
In 2022, I exchanged $1,388 for 1 million naira at the rate of N720.
In 2023 (Just yesterday), I exchanged $1,000 for 1 million naira at the rate of N1000.
These people are happy that I am a loyal funder of the project by giving 1 million naira yearly but they do not know that the value of the money has really dropped due to the Naira / Dollar exchange rate.
I just smile each year when I am about to donate

Is the project fund quoted in Naira or USD?

adisabarber:


When a leader refuses to practice common sense economics, that is what will happen. Whatever you read in school has to be balanced with common sense. Floating the Naira when we are currently servicing debt with almost all our forex earnings is nothing short of foolishness.

tinubu number one mistake...the dude went to nyse to state that he has floated the naira and the west were giving him a clap and the thinks he is doing well, but not knowing he is putting his nation on an hyper inflationary hell of fire.
he never thought about production and investment.

We need to increase our export drastically

Dangote and every company selling made in Nigeria products demand for dollars outside Nigeria

Lies from the pit of hell why not tell us how our politicians loot our collective wealth, it’s just corruption,why not talk about the cost of governance, why not talk about illegal mining,why not talk about the amount of monies our politicians put if foreign banks ,why not talk about why you forced us to take austerity measures for our economy to recover why has finally damaged our economy and our currency, with subsidy and naira pegged to the usd we had it better

Naira

DIVINEEVIDENCE:


Is the project fund quoted in Naira or USD?

Na so we see am

oyinbo man wrote economics book and a course for us. they wrote those economics principle base on the condition of their countries and comparative advantages they have in favour of other nations.

but imf told emilokan to float the ni=aira and the johnny quickly implement it without studying his on economic and designing her own economic principles and theory.