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Nairaland Forum / Nairaland / General / Business / It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves (28204 Views)
Disquiet In CBN As Cardoso Retires ‘Emefiele’s Directors’ / Black Market Welcomes Cardoso With ₦960/$1, P2P Now ₦970/$1 / Naira Weakens At Forex Market As Foreign Reserves Drop To $43b (2) (3) (4)
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Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by FBIBOT(m): 5:25am On Apr 18 |
Yampotatocarrot: It's currently 57k in Ibadan.... It's not a lie.... Places closer to boarders seem to be lesser there |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by iReddington: 5:38am On Apr 18 |
AqualinaXYZ:Shut up, did you watch the video or just convulsing like an epileptic airhead, the topic was misleading and typically birdbrained ignorant minds like you just assumed, Cardoso said they were not defending the naira and it's never their intention to do so even in the foreseeable future, he also explained that Nigeria had debt obligations and some payments which it fulfilled to maintain the credibility image of the country, and once the FX reserves has been reconciled, there will be a significant rise in it as some FX has also come into the account but it hasn't been reconciled yet. You don't have data, you don't have sense! 🤦 1 Like 1 Share |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Lavor234: 5:49am On Apr 18 |
Seunpapa65:how much did you buy bag of rice under Emefiele? |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by BabbanBura(m): 5:53am On Apr 18 |
iichidodo: Isn't this the status quo they met? At even better rates and costs? Why then make things worst and difficult and then revert to status quo? On using proceeds of crude oil sales to bounce back, you don't really know what's going on, Nigeria isn't selling for cash but swabs for loan repayments and for refined products. We don't have much fx coming in from production but mainly from more loans, that is why people like us that are well informed are worried about Nigeria's economy. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by omooba74(m): 5:54am On Apr 18 |
Birdbrained ignorant minds that's what they are...Thanks for this explicit explanations but the children of perdition will still twisted it cos the hatred in their genes will not allow them to see the truth and hear the truth... iReddington: 1 Like |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by IfnobeGod20: 5:55am On Apr 18 |
tollyboy5:Let them be deceiving you. Are you aware that CBN have given each BDC not less than $30,000 within a space of one month to cushion the effects of dollar rise? The news are everywhere. Again, the Cardoso never deny that reserve had been depleted but just been wise not to be caught in the web of saying truly they used naira to defend dollars. He wasn't straight forward, it wasn't our intention to defend naira and in another breadth he says we didn't use naira to defend dollars. Inconsistent message. Meanwhile, are you aware that country's reserve serves as collateral and gives confidence to investors coming to the country to invest? Please which investor would want to come and invest in a country where their reserve is depleting day in day out? It will surely dampen their confidence. Remember it is the same government going from one country to another seeking for investors to come invest in Nigeria but same government doing things that will scare away same investors they are wooing by depleting reserve that can give them confidence of coming to Nigeria. There's need to call a spade a spade and not a spoon. 1 Like |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Henryfortune(m): 6:07am On Apr 18 |
AqualinaXYZ: Don't just keep saying strashhhhi stuff...what would have been your own suggestions how could we do this better..we can use social media platforms well rather than through banter youths in other civilised countries are using social media to better and make suggestions to help make the country a better place but her it's all hate insults and unprofessional talks....if u criticized some tell us how to do it better this way we know you know better not the empty head you are carrying about filled with water mixed with oil |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by IfnobeGod20: 6:12am On Apr 18 |
omooba74:That explanation iReddington gave is wrong. No reasonable government sourcing for investors into her country go to deplete her reserve. It scare away investors. Remember they are the same people moving from one from country to the other begging for investors to come and invest in the country, same set depleting what can give investors confidence to come. It scare away investors when the reserve is not stable and meager. If you listen to the video keenly, Cardoso was just double speaking. At the beginning he said, it wasn't their intention to defend dollars with naira. At the end of the video he started saying they are meeting debt servicing and not defending dollars with naira but records have that they have given tranches of dollars to BDC within a month now. There is no need deceiving ourselves, we are all seeing the results together as a people and a nation. Till date we have not asked questions. Where are the investors in the country with all the money they have wasted going from one country to another? |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Benwallt(m): 6:28am On Apr 18 |
Nbotee: You go school at all. Obidients are band of illiterates. Op has used heading confused this one |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Johnjustice: 6:39am On Apr 18 |
Critical times call for critical measures...if average Nigerians don't survive, Nigeria will go up in flames and chaos. Ensure goods are affordable in the market. 1 Like |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Alexlalax1(m): 6:49am On Apr 18 |
treatise:no mind them |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by princedukee(m): 6:54am On Apr 18 |
Make I try to simplify am for them. He no dey use the reserves to save the naira. Dem use small chekere to pay some gbese. Las las Naira go find he own level. This na temporary measures. He just added 600 million Dollars yesterday for the reserves self. Hope say una understand. grin |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by fortune1968: 6:55am On Apr 18 |
Ykc2:Your quoted prices of things during Jonathan should be compared with when Abacha and Obasanjo were there also . Just sit down there ,The President will soon start planting cassava, fry Garri and bring it to market for you . Nonsense ! 1 Like 1 Share |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Tareq1105: 7:08am On Apr 18 |
Alexlalax1: Those of you who have constituted yourselves as enemies of Nigeria shall be heavily for it. If you think that you're attacking Tinubu, you'll soon realize that you're doing yourselves and family. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Kusu12: 7:10am On Apr 18 |
AqualinaXYZ:This is beyond your comprehension, stick to your walling and propaganda career. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Kusu12: 7:11am On Apr 18 |
IPOB cannibals and obirodent miscreants have started doing what they know how to do best wailing, gnashing their teeth like loser, grunting like pig and peddling falsehood. Losers always wailing |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Ykc2(m): 7:13am On Apr 18 |
fortune1968:abacha dollar 100 naira Jonathan dollar 140 is almost the same how is dollar today from apc government?apc is government of nepotism that's why buhari used only fulani in his government and they destroyed nigeria and tinubu is doing the same today cardoso is an engineer,check out the calibre of Nigerians Obasanjo assembled |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by lexy2014: 7:14am On Apr 18 |
Ikemba007: when something is published in the press, what has that thing become? |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by lexy2014: 7:16am On Apr 18 |
tollyboy5: what is wrong if I post August 2023 news in April 2024? does the news of August 2023 corroborate the event of April 2024? who are "these pitobi guys"? how is that relevant to the topic of discussion? |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Kaiser20: 7:40am On Apr 18 |
naijaboy756:The supporters of this government are More stupid. A government without any economic transparency enjoy leading stupid people. 1 Like |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by tyboy(m): 7:52am On Apr 18 |
AqualinaXYZ: [b]Cadoso abi wetin them dey call you Your tactics isn’t different from that of a JSS 3 student Robbing Peter to pay Paul You and your Oga no get sense normally na una Agbado miscreants dey hype una before we know sa una no get sense Una be Mumu [/b] Oga mumu I dought you think with your brain. Mr jss 3 student . |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Racoon(m): 7:53am On Apr 18 |
Meaning that is simply what they are doing now. The ill effect is going to rebound. They though every Nigerian is a zombie. Government of lies and propaganda |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Everlastingson: 8:00am On Apr 18 |
We knew all along that they've been defending the Naira. And, even as foolish and bad as this policy somersault is, they defend the Naira while looting and inflating the actual amount used. Just like they loot now while saying they pay subsidy. These people are all criminals and not for the progress of the country. Forget the lies they tell you, their mission is Grab( the money), Run with it. They'll soon go for another loan. With APC Nigeria can only get worse. If APC ever meant well for Nigeria they'd never have preferred a murky fellow to Osinbajo. If you have dollar, keep it safe. The Naira will soon return to the worse against the dollar. Govt of liars. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Everlastingson: 8:05am On Apr 18 |
Skyehigher1: Illiterate Yoruba Muslim mumu. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by abalog: 8:08am On Apr 18 |
Alexlalax1:But why bad belle dey worry some people like this? |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by dfrost: 8:12am On Apr 18 |
What exactly is our strategy as a nation out of this quagmire? Are we even transparent about what we are doing? Once leadership is not transparent about their strategy, the followers will be skeptical about all their moves. This is not about trust, it's about years of not getting value from the leadership. Economics is not about suits and ties. Unfortunately, the decision of a few affects the majority. By now, simple solution is to flood our farms with security so as to allow farmers farm and harvest with peace of mind and ranching takes place. But no, everything starts and ends with $, importation et al. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Everlastingson: 8:13am On Apr 18 |
Anatolia: Unfortunately, Naira is not being rescued here. It will soon get worse. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Everlastingson: 8:22am On Apr 18 |
dfrost: Yea, you are in order. The wicked leaders know what to do just that their mission is doing the opposite. They came to Grab and Run away with the people's patrimony. They allow their boys to destroy farms, kill farmers, prevent people from farming, and come back to deceive with lies that Nigeria is on the right track. Why is it that no Fulani herdsmen ( terrorists, rather) who murder farmers and destroy farms is ever arrested and jailed or killed? It is coz what they're doing is a script. It's a plan. It's a mission. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by iamtoofan: 8:26am On Apr 18 |
IfnobeGod20: Some of you are just blindly ignorant as fvck, What is foreign reserve ? what is the essence of foreign reserve ? What is the essence of foreign reserve if it does not defend the local currency, A rising foreign reserve where Naira is losing value freely ... is synoymous to walking dead At the rate naira was falling nig. economic was heading for a major crisis never seen before, GOvt/CBN intervention is crucial to mitigate the worse, in every country Govt intervention are lifeline options .. nothing wrong in it Foreign reserve and local currency are our national team, one plays a role of defender and the later plays the role of striking As much as Savings is good for our reserve, a valueless Naira renders it counterproductive |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by Everlastingson: 8:30am On Apr 18 |
Tareq1105: Another illiterate Yoruba Muslim paid mumu. |
Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by HisXLNC1: 8:34am On Apr 18 |
LAXconfidential:He doesn't think he owes Nigerians an apology. He would rather apologize to media houses for a cancellation if a birthday celebration that has got absolutely nothing to do with the well-being of Nigerians. |
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