Una never see nothing yet. Armageddon is already here cos of buhari. Hahahaha

I don't know what is wrong with the CBN.. They're spoiling biz for our G-hustlers.. Despite strengthening the naira price of goods ain't coming down. Why not save the stress and leave the naira alone??

Blind man leading de sighted and de blind, what do u expect?

dis is good development. they should pump it twice a week dat d dollar issue will meltdown . God will help Nigeria

Where is finance minister? I never hear from her for long now

Donjcco:
Rubbish.....
Artificial solutions never lasts long... What happened to the recovered looted funds...?...person want big yansh; them give am big yansh now em no fit f*ck. The tale of APC Buhari led government.

I agree with you perfectly
They are just using artificial solutions

BMC food is ready for ur incompetences

The difference is clear.

Buhari I thought you had collected looted funds. Inject it abeg

I hope they are not injecting money for the next elections either for state level or for the Federal level. this recession don reshape me if not make I no just talk am

And the round-tripping continues......

CBN please come inject into my life, I need strength too

Wrong solution, dollar-naira hike will still be inherent in the long run.

How long will these injections continue?

stanway:
I reserve my coment until this incompetent charlatarn called emiefiele is fired,we can't keep doing same thing over and over and expect changes.

Why are you people blaming emifiele? Emifiele has performed excellently in the face of the current situation.

In fact i pity that man so much, emefiele has realised that he is not just a technocrat but a politician.

All the emifiele would have needed to perform has been withheld from him so why blame him?

The CBN governor does not control the price of crude neither can he guarantee sustained production.

He manages what he get. He told the president to devalue, the president hesitated until it was too late.

We dont know who sold the president the China swap idea, he went and started wasting valuable time.

During this time, investor confidence was waning. The IMF came with a loan proposition to devalue also you said NO when you had the chance. Now the currency is devalued far below what the IMF was suggesting, who lose?

If we had de-valued at the right time, we wouldn't have created this huge black market margin that we have now. we would have went the Egyptian way and be better for it but the president was too head strong to listen.

when it was too late and it became obvious that we needed to borrow, the almighty senate came in again. So what do what them to do?

Donjcco:
Rubbish.....
Artificial solutions never lasts long... What happened to the recovered looted funds...?...person want big yansh; them give am big yansh now em no fit f*ck. The tale of APC Buhari led government.

yes we know this is a cosmetic solution but please propose another way out of this quagmire


You don't go about ridiculing someone if you can't do better

The FG is simply throwing money at the problem rather than treating it. Focusing on the symptoms such as the round tripping and scarcity rather than the real problem which is an exchange rate at an uneconomic rate by fiat.

A float of the currency should be the first step to fully correcting the present crisis.

obembet:
To

You see the pic of the battered guy?

Well, he was supposed to be doing babysitting work, looking after a small kid. Until the kid's father came home from work early and got the bastard sodomizing his boy. Well, the father did major work on the guy and then called the police, and even added at the end "get an ambulance as well...the babysitter is gonna need it."

Needless to say the police sided with the kid's dad on the matter and locked up the babysitter.

I see many people complaining but I choose to applaud CBN for the fight to save the naira. when all this oil crisis started, in less than a week Russia spent more than a 100 billion dollars to support its currency so I don't think CBN is wrong with the drastic measures made to tackle a drastic situation.

ShobayoEmma:
Addiction of injection may lead to complications in a long run to our economy if stopped suddenly.

Thanks for that observation... Since Nigerian is an importing country, could people ask themselves where these currencies injecyed into the evonomy are coming from?
The foreign reserve of course...
The depliction of the foreign reserve doesn't speak good of this country since they depend on a lot of borrowing from international financial institution and there are no easy way of replenishing the injected hard currencies since the income or revenue isn't gonna be like the old times.
This is tampering of the Economy, the grandeur of inflation which is depression might be the next spiky fall the economy will notice...
What are they doing to discourage the dollar from posing as a boss to the Naira through export?
As look as the economy is import dependent this is detrimental at the long run...
This is my own analysis and i stand to be corrected. I with proofs and not tantrum throwing.

Which kind nonsense is this na?
How long will they keep 'injecting' dollars?
who makes this stupid policies??

When this thing go boomerang eh!

toluine56:


Source - www.punchng.com/cbn-moves-to-boost-naira-injects-more-dollars/

Oh my goodness! What are they doing? They are about to burn through our foreign reserves pursuing a policy that is not sustainable. Na wa o.

Elxandre:
how long will this keep on?
This measure is just desperately short termed.

Not like our reserves are even fat sef.

Abi o. The strength of a Central bank is in the size of its reserves and Naija is about to burn through its reserves pursuing a policy that would not even change the intrinsic (market) value of the naira. Na wa o.

Joavid:
Which kind nonsense is this na?

How long will they keep 'injecting' dollars?

who makes this stupid policies??


When this thing go boomerang eh!

My sister it doesn't even make sense because when you intervene to boost the value of your currency you have to dip in to your foreign reserves and with oil money not flowing as it used to, the future could be scary.

Cuteamigo1:
I see many people complaining but I choose to applaud CBN for the fight to save the naira. when all this oil crisis started, in less than a week Russia spent more than a 100 billion dollars to support its currency so I don't think CBN is wrong with the drastic measures made to tackle a drastic situation.

The problem is that in order to artificially prop up your currency you need to burn through your reserves which means that it's not sustainable because nothing lasts forever, especially money.

donprinyo:
Where is finance minister? I never hear from her for long now

This is not her jurisdiction, hers fiscal policy (govt expeditures, taxes) not regulation of money supply (monetary policy).

collabo4me:
dis is good development. they should pump it twice a week dat d dollar issue will meltdown . God will help Nigeria

You don't know what you are talking about do you? In other to artificially prop up your currency you need to burn up your foreign reserves.

2bam:
CBN has woken up from its slumber.

You don't understand what's going on do you? In other to artificially prop up your currency you need to burn up your foreign reserves. There is a reason why a lot of countries don't do it because eventually you completely deplete your reserves and money don't grow on trees especially with oil prices the way they are right now.

Kaxmytex:
k33p pumping

Bros, I don't think you understand what's going on. In other to artificially prop up your currency you need to burn up your foreign reserves.
There is a reason why a lot of countries don't do it because eventually you completely deplete your reserves and money don't grow on trees especially with oil prices the way they are right now.

For how long can they continue pumping $$$