Costello559:
Cbn should open all the openable forex... And stop doing their buying and selling shit to boost the economy..... Why will a country's official dollar price b almost the same with black market price?... That's rubbish.. .... I think our foreign reserve is enough to reverse the economy the way it was.... Nawa for this government oooo.... Nawa for naija government too

hoygift:
All u people know is investing money in the one you think that will benefit you people not knowing that they are some other places to invest money ... For example the U.S government invest money on their internet marketing like websites and other things and it pays them well in return ... Take a look at Nigeria internet fraudster (yahoo boys) not promoting them just for example do u know that dey are among the first 3 contributors to nigeria Economy Cus dey bring in dollar into the country this is to tell u how the internet can help improve our economy the most not just only forex invest in some other aspects too.... I rest my case those in support say hi ... Not in support go home the internet is not for u

StarPlayer:
Instead of shoring up our foreign reserves and building infrastructure for more local production, we busy pumping dollars into the market. Are we cursed in this country?

StarPlayer:
Instead of shoring up our foreign reserves and building infrastructure for more local production, we busy pumping dollars into the market. Are we cursed in this country?

Billyonaire:
Our Fulani powered FG is just releasing millions of dollars every day to their brothers at BDCs.

They never recover the money back, just sharing is all they do in the name of 'stabilizing' the naira.

When will this fraud end ?

Billyonaire:
Our Fulani powered FG is just releasing millions of dollars every day to their brothers at BDCs.

They never recover the money back, just sharing is all they do in the name of 'stabilizing' the naira.

When will this fraud end ?

chigoizie7:
For how long are we going to keep pumping?


@ 364 it is still not good, I expect prices of imported goods to start falling in 2 months time that is if this 364 is stable or is going down as well to maybe 300 or so.

But if FG can't sustain this injection for the next one year till we proffer solutions on how to boast our foreign reserve , then all these is a waste of time and money.


Because these money would have been given out as soft loans to serious minded investors with no or little profits to be monitored by the Cbn and other government agencies ( I know they can do it. They also have resources to determine not giving it out to politicians using some yeye companies as fronts.

erico2k2:

Howmuch do you think we have in our reserve? or you are still locked in this them say government

Costello559:
Cbn should open all the openable forex... And stop doing their buying and selling shit to boost the economy..... Why will a country's official dollar price b almost the same with black market price?... That's rubbish.. .... I think our foreign reserve is enough to reverse the economy the way it was.... Nawa for this government oooo.... Nawa for naija government too

nextprince:


Without selling dollars at the forex, pls suggest alternative ways the govt can convert its dollar earnings to naira to meet its domestic financial obligations.

nextprince:

Even if 1 dollar = 1 naira, the govt needs to converts it dollar earnings to naira to meet its domestic financial obligations.

chigoizie7:



Can u please explain this to me?

Like, I want to understand what u exactly meant.

Billyonaire:


First off, it is not government's responsibility to sell forex. The responsibility lies with our commercial banks. This fraud called 'Quantitative Easing' started in the US when they ditched the gold-back legal tender to a fiat currency, a piece of paper given value by pronouncements from Federal Reserve and now Central banks.

Now, our politicians are so ignorant and our accountants so silly that they think our inflation is caused by excessive liquidity by pegging our interest rate at over 19% and injecting more $$ into the FX system. Who does that if not mor0ns.

The Standard methodology is to reduce import dependency and launch a campaign for FDIs, the best way to get $$ into your country is to bring in foreign money, via foreign investors and every other sectors that bring foreign money, not by changing naira into dollars and sharing into the system. This is MADNESS.

Our musicians are bringing in Foreign Money, our Yahoo Yahoo boys are bringing in foreign money, foreign investors are bringing in foreign money, drug dealers are bringing in foreign money and exporters are bringing in foreign money. Encourage every harmless and legal means of bringing in foreign money instead of depleting our foreign reserves.

I am trying to use common terms here cos if I want to use fiscla registers many will get lost in the grammar. So my dear, we have ignorant people in government that can not think.

To bring in foreign money, you create environments for people to come in, tourism, opening up businesses, bring down taxes on foreign investors that bringing in cash. Do not make it easy for foreign investors to generate internal loan here to avoid fraud that happened in Etisalat, just make sure you design a fiscal system that works.

There is no way we can continue to inject oil dollars into the economy to give our money fake value for ever. Soon we would go broke, very very sopn.

Billyonaire:
What he says makes no economic sense on a macro level.

chigoizie7:



Can u please explain this to me?

Like, I want to understand what u exactly meant.