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Nairaland Forum / Nairaland / General / Politics / Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU (14591 Views)
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Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by purehustle101(m): 6:00am On Mar 11 |
Who repays the borrowed funds? Are we repaying in naira or same dollars because I don't understand the logic here. Instead of encouraging local production to gain forex they still want us to enter into a deeper shit by borrowing. 2 Likes |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Chetas81(m): 6:00am On Mar 11 |
FRAUD KILLED ALL OF YOU IN NIGERIA GOVERNMENT HOUSE 2 Likes 1 Share |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Pennywise2: 6:02am On Mar 11 |
Tell us what happened 1 Like |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by darediamond(m): 6:05am On Mar 11 |
We already Know What The Naira Devaluation is about. It is all about Conniving with Owners of World Bank and I.M.F to Loot Nigeria's Treasury. How will Western Europeans live withouth there Parasitic Act Of Foreign Land TRESURY LOOTING using Greedy and Desperate Puppets like TifNuBUU? All I will tell you fellow Common Nigerians is to learn how to: 1. Convert your Naira to alternate Dollar a.k.a USDT which can't be controlled by Nigeria Government etc. 2. Exchange the USDT for USD for Profit making. 3. Receive the USD in Nigeria via GeegPay and or ChipperCash, Crypto-To-Naira P2P deals on Bybit, Kucoin etc. 4. How to do Crypto Inter and Intra EXCHANGE ARBITRAGE 5. Use Profitable African Originated Payment Processors That Act As Money Deposit Banks like PayDay etc. 6. Use Intercontinental Profitable Payment Processors like PayPal, Webmoney, YooMoney etc. for Naira-Dollar Arbitrage where you make Money repeatedly instantly. 7. Uncover Bank Transfer Findable Profitable Virtual Cards that can be funded with NAIRA See enh, present Nigeria Government is signatory to ONE WORLD GOVERNMENT ARRANGEMENTS THAT IS WHY Tinubu is heeding the words of those Western Imperialist against we Nigerian citizens. But thank God, THE BANKS are two sides of a coin; one for the Ruling Elites and the other side is the Commoners like you and I. So whatever heat they bring, can be cussion with Deep Knowledge of Currency Arbitrage be it CRYPTOCURRENCY or FIAT. 2 Likes |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Lovenorth: 6:05am On Mar 11 |
limeta:For given Tinubu power 1 Like |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Yankee101: 6:07am On Mar 11 |
That’s a lie Ramp up productivity and exports Bring the conflict minerals in Zamfara, kaduna, Borno and Nassarawa online from private hands 1 Like |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Zetty177x: 6:10am On Mar 11 |
Izuogu4Presdent: Na them go kpeme first |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by seunayantokun(m): 6:11am On Mar 11 |
When it was reported that Nigeria had only $2 billion in foreign reserve, to cover Buhari up, the government of Tinubu disputed it. That evil terrorist government looted Nigeria naked. What Nigeria is facing now was planned by him. For how long can you go with that? The solution now lies 60 per cent in agriculture, but that remains impossible until there is solid security in the land. Time for state and local council policing is now. Let this be urgently done. CBN has a lot to do to stabilise the economy but you cannot stabilise non-existent economy whose basis is naturally agriculture. I am not an expert economist, but common sense tells us you cannot borrow to get out of an economic catastrophe if you've got no strong support to pay off your debt and gain something to live happy. When you dig a hole to cover a hole, you are leaving another hole behind. You will definitely remain in the hole or gulf which grows to become a two-fold tragedy because you will in addition remain a servant of your lender until God knows when. |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Zetty177x: 6:13am On Mar 11 |
nedekid: I keep asking my self ..why borrow to build red rail line or blue rail line when we don't have the means to pay back... 3 Likes |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Emeskhalifa(m): 6:14am On Mar 11 |
What kind of trash talk is this? Isn't it the borrowing at the first place that plunge us into this mess? So we should go on with borrowing abi? Such incompetency 2 Likes |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Blazetrailer: 6:15am On Mar 11 |
adenigga: My takes from this read up: 1. The removal of subsidy and naira devaluation was not well thought out, no matter how the Govt. press have made them to appear. Decisions appear to have been mulled at a beer parlour or maybe he was misadvised. 2. Tinubu's administrative prowess and so called intellectual experience have been overestimated. He doesn't have them. Only an inexperienced leader will take those two heavy decisions same time without weighing the consequences(something a high school student would have done). Now the subsidy is back much more than it was when he stopped it. 3. The Govt, deliberately devalued the currency, there is absolutely no truth in the floating and the willing buyer/willing seller hogwash being bandied about. 4. Nigeria is in deep shit. The current guys in charge of the economy are clueless. They are just pulling at straws to see if the field will settle magically. 5. Nigeria will have to continue borrowing to even run the govt. With little coming from oil production sales and huge appetite for importations, there is no way out for at least the next few years. The economy has been so badly mismanaged in the past and the 6. If anyone is deceiving you that the exchange rate will get back to N1,200 or so, you are in a la la land. It will never get back. The Govt deliberately devalued. There is nothing like floating the currency. it was devalued. 7. Dangote refinery can not rescue Nigeria. Expecting a private entity to run at losses to shore up an economy is foolhardy, to say the least. He will prioritize foreign sales and remittances will be to the company accounts in diaspora. 8. I am shocked that Nigerians are this docile, not challenging the government to brace up and look for quicker remedies to its wrong decisions. They really do not understand how things will get bad in coming months when minimum wages are increased(and if they are not increased, there will be strife). Nigeria is in a big trouble, I can foresee. My view. if you have the means to get out of Nigeria or move your assets out at least, do not delay. Act now. With the people at the helm now, it will never get better, as disheartening as it sounds. 3 Likes 2 Shares |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Jeezuzpick(m): 6:15am On Mar 11 |
adenigga: Den take stupid leaders and stupid voters swear for us ni? What happened to producing and exporting? |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by bishop212(m): 6:16am On Mar 11 |
RUbbish commentatiom from that economic rresearch body or whatever it is . OUR biggest mistakes as a mation has always be listening to these foreign organisations. look how far down weve plunged since we started paying attention to imf and the world bank. 1 Like |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by buJu234: 6:17am On Mar 11 |
This maths is not matching oo.. Wait oo, is it not the buhari massive burrowing that put Nigeria in this mess, So why tell us to burrow more again as the solution out? |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Jaqenhghar: 6:20am On Mar 11 |
There is clearly nothing intelligent about this unit. Borrowing is what got the econoomy like this and they keep borrowing 1 Like |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by NeckingNgulping(m): 6:20am On Mar 11 |
mytime24: Good question.. |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Thegamingorca(m): 6:21am On Mar 11 |
Look at the mess APC has wrought on ppl |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Shawnnn01: 6:26am On Mar 11 |
Your wailing de inspire me How much does the Pandora criminal pay jobless ipob like you daily I wan volunteer as e bi pa wa O. DatNiggaDaz: |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by chidiebere2020(m): 6:27am On Mar 11 |
Ebi pawa ooo More hardship loading, Oh God come to our rescue |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Blazetrailer: 6:31am On Mar 11 |
seunayantokun: Buhari might have mismanaged the economy broadly speaking, the hasty decision to remove the subsidy and devalue the currency without a proper plan is responsible for the worse situation. Leave Buhari out of this for now. The guy who bragged about fixing Nigeria based on building Lagos is now in charge of destroying the country completely. The govt has no choice but to borrow. There is no other option at least for now. Nigeria is going, going..... |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by olarent: 6:31am On Mar 11 |
No sincere government of africa should listen to this useless foreign people, Russia was not borrowing and under action and yet her economy stable and currency strong, we need to borrow leaf of advice from Russia and not follow the so useless imf, world bank and their useless associate advice 2 Likes |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by jumper524(m): 6:33am On Mar 11 |
now I'm convinced Tinubu is doing the right thing. |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by jumper524(m): 6:35am On Mar 11 |
olarent:those lads would use one body to advice you and use another body to condemn you. they are disappointed Tinubu is already working Nigeria into a self sufficient financial country. |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by olarent: 6:35am On Mar 11 |
Yes, those useless people are the one given africa leader useless economy advice. jumper524: |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by olarent: 6:36am On Mar 11 |
Yes boss. jumper524: |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by jumper524(m): 6:38am On Mar 11 |
Blazetrailer:that's where they want us, keep borrowing to hide our flaws then in the end, problem persist no matter how hard we find solutions. tinubu is already resisting such people. and to tell you the truth, subsidy is one thing derailing our economy for decades.. they inned us in a situation that whenever subsidy is removed, they devalue your currency and make you pay for same subsidy. they want us as slaves forever. IMF has been busted now this one that can't save UK economy is dishing advice. |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by DesChyko: 6:41am On Mar 11 |
First, you said this drlateef:But CBN themselves on Wednesday sold the dollar for 1300+ to BDCs before profit. Then, you said this drlateef:Now, Look what we have here. Governance is not wishful thinking in WhatsApp Groups. Hope you are learning? |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Blazetrailer: 6:41am On Mar 11 |
Jaqenhghar: Comprehension issue!! You are the unintelligent one. Now read 1.The govt is not getting forex inflows. All future oil sales for months/years have been locked up in future/derivates, meaning the oil have been sold in advance and money collected by previous administration. 2. The current govt came up with an expansionary budget, designed to spend its way out of economic challenges, hence a very huge budget 3. The subsidy is back, meaning govt have to spend more than it budgeted in order to avoid social strife/disruption 4. No multilateral/bilateral organisation is willing to give Nigeria further loans due the poor ratings and so because they feel that the reforms were half hearted and there might be irrational govt interventions soon based on on-going events. 5. The only option left is to borrow internally through ways and means(same thing previous admin did) All of the above are facts in the open. Do you understand now? 2 Likes 1 Share |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by olarent: 6:42am On Mar 11 |
I have advice for the government, but don't know how to channel it, government should make use of prisoner for economy recovery and progress, the way forward is prisoners with light sentences government should encourage them to farm on government reserve land nation wide and give them tools needed, food security we be secure. I have other ideas that can be immense benefit to this nation. |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by ivandragon: 6:49am On Mar 11 |
Hmm... There is money in this country... the problem is that it does not circulate in a productive manner. We have what I would like to term a case of massive 'unproductive corruption' in Nigeria. The government officials steal funds to live an extravagant lifestyle, oppress the masses, stash abroad, buy houses and lands that are unproductive, import cars and other foreign goods that are unproductive and spend on wh×res who in turn spend on unproductive things. So the money is not circulating in the way it should to boost the economy. 3 Likes 1 Share |
Re: Only Foreign Borrowing Can Save Naira, Clear CBN Debts – EIU by Mandate1: 6:52am On Mar 11 |
2mch:what is doing things the hard way you guys keep regurgitating? Is poverty doing things the right way? Whr were you when the govt budgeted billions for cars, was that lso the hard way? 2 Likes |
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