RepoMan007:
Your confusion is heavy duty.

why will you understand... for ur information am an economist... MSc

001Lotion:
And who says an Economist main scope of Operations is the CBN? Some of you have no know nothing about a country's central bank but act as if it your field!!

Why is the CB called the the Bank for Banks? That is because it has more to do with finance and Management than Economics.

The essential roles of a central bank are to affect monetary policy, be the lender of last resort, and oversee the banking system of a nation. Why do you think someone in the banking sector won't do more than a macro economist.

the role of the central banks goes beyond that. they help manage unemployment, they help stabilise prices at the aggregate level, most importantly they help the foreign exchange market to be stable through various policies, interest rate stability, and also spurs economic growth.
it goes beyond micro economics.. economics at individual level to macros economics.

tell me what does a marketer knows about economic modelling, what does he knows about exploring various advanced economic theories?
what does he know about econometrics at the advanced stages when we are dealing models that has to do with single explanatory variables and multiple explained variables.

an economist has been trained on various economic theories which guide them through just like an engineer will fully rely on theories like that of einstein theory of relativity... that guides them.

the way an accountant sees cost is not the way an economist see cost.

the way an economics sees linear regression is different from the way a statisticians see it. while to a statistician every data is static, in econometrics its assumed that it is not soo rather there are is an error term u or e known as disturbances

y= a+bY+u in a simple economic model

the bankers are interested in more on money market where they seeks to make profits within few months or typically under a year.
while an economist will rather look at long term goals and objective... the money market is not the only aspect of an economy.

business management, projects management, banking and finance have their specialisation but not a substitute for an economist.

an economist is trained to master R, STATA, SPSS etc which economic data can be analyse and given best interpretation.

if you have done specialisation on MSc level... as regards economics then you won't say what you just said

Kukutente23:

Sanusi was also from a commercial bank

he is an economist.

001Lotion:
Economics, Bank and Finance and Management are the fields that could effectively handle a macro economy.

You don't necessary need to be an Economist, as long as you are from the above area of specialization and you're good at what you do, then no issues as those courses can easily be intertwined.

you are wrong.
do you go for a doctor that specialises in heart for liver disease?

directonpc:

Turkish air with 1 stop at Istanbul no need transit visa or COVID 19. My partner traveled on the 16th Sept. using the same airline

thanks what about polio?

directonpc:

Thanks.
For both MA and dependant?

you can keep both funds in one account. that's what i did. but while filling the you should indicate that his fund covers yours

which one is abia youth leader again
the last one was ijaw youth
all this paid actor.

eniboi:
@dduchess90

Hello. I booked a flight with Turkish Airlines that goes from Ghana (Kotoka international airport) to Antalya Airport there will be a stopover at Istanbul Airport. After reaching Antalya Airport I will be catching another flight from there to Bristol UK with easyJet Airline.

My question is will I need transit visa going from Istanbul to Antalya and will this also apply when I’m taking my flight from Antalya to Bristol UK. (Regardless if I'm arriving or departing from International or Domestic Terminals)

how was the flight... was transit visa required in the Turkish airline

Bukolab99:
It requires transit visa

what about Turkish Airline.. stop over at Istanbul.

2.do they require covid 9?

thanks

EmperorCaesar:
Thought they said Otti is the best since slice bread

So this is all he's got to offer

this is rain now.. biko.

There has been massive rain fall in aba in recent days.. even now rain de fall since last night non stop.

AussieJoan:


Good for you!

you should have told him 20m might not be enough given the current exchange rate or give him ideas on how to go about it

we are all here to learn from each other

fastseo:



i know it all where has it taken you too?
all that was Written here was it not someone that research n simplify it n put it down here.

Before we had to struggle, to learn to code , do things the hard way.
some one sat down brought AI.... ChatGPT and simplify everything.

you don't necessarily had to pass through the hare way to build big machines... now with ChatGPT almost everyone can do that


before we had to learn code first just to put information online.. 'someone brought WordPress.. made it free n with few clicks everything is ready.

thinking that everyone will go the hard way to retrieve information is only reinventing the wheel.

unfortunately thats the black man' s mentality.

i was asking if 20m will be enough. at current exchange rate .. the next thing is go and read from beginning to the end.

must everyone struggle through 500 pages? what joy do u derive in people suffering?

get away...

someone has given all information necessary.



i thought you knew it all

must everyone struggle through 500 pages? what joy do u derive in people suffering?


its over 500 pages... now 600 plus divided into about 8 threads each thread having over 700 pages and to get the right information you have dig deep and spend months on the thread and which is very stressful.

i will try to simply everything in a thread some day and make it available on a special thread.
i know there are some bankers here and those whose work takes them every time they have and won't like the stress to read through hundreds of threads after rigorous hours at work

debeginin:

Then why is USD not depreciating like the Naira since the US has a debt profile of over $31Trillion.This has nothing to do with Buhari borrowing sir.

What do you call them? USA abi
thay controls the world economy... everything from high end tech to finance, armo etc to even currency.
the world trade in their currency and they can decide to print more dollars and other nation will bear the burden.

But see how your Buhari tried to print the Naira. see the trend n effect on Goods.



m1 money supply.. is known as naira being printed n circulated. from 2020 after borrowing from left right center... they couldn't keep up.. they have to print more money

a bag of rice cost 7000 in 2015 but now a paint is 5000 and a bag now 62,000.
i pass my neighbour generator in 2015 was 12,000 but today now 70 to 80,000.
spaghetti of 60 naira now 600.

bag of cement of 1450 to 1500 in 2016 is now 5000 plus


Buhari should be held responsible for the mess Nigeria finds it self.

ManirBK:
Davido why you fuccckup

yeye de smell.
are u fighting for God or God fighting for u

grandstar:


You are again repeating this myth! Don't you people ever listen?

You want them to build refineries? What happened to the existing ones? They've been left moribund.

What do you think will happen to the new ones?

Most importantly, why build refineries? Because you believe it will make locally produced fuel so cheap that there'll be no need for a subsidy.

It is a blatant myth. Meles Kyari has already said refining it locally would make little or no change to the price.i have always known this. Even Dangote has repeatedly said he would sell it at the international price.

No economist has ever said supported the notion of building refineries first. It is is always the layman on the street demanding for it with rhe belief that it will drastically reduce the price of petrol and other refined oils. It won't.

Which bank will lend you $20bn to build refineries in a country where the refined products are subsidized, sold below cost? You want them to lose their money? You think they are the Nigerian government?

Nigeria is broke. There's no money to subsidize fuel again. You contradict yourself by showing 96% of the budget revenue would be spent on debt servicing. So where's the $10bn to subsidize petrol will come from? It will be borrowed, adding to the debt!

A major component ofNigerias present debt is for oil subsidy. It has to stop.

I don't even understand what u are saying... what's your point here?

we should keep importing fuel? that way it will be cheaper?
do you know that we are suffering from trade imbalance already ? and a responsible government must seek ways to tackle and correct this trade imbalance by encouraging import substitution industries and Import Substitution Industrialization (ISI)

1) refining our own fuel here means government won't spend billions of dollars importing fuel. naira won't be under pressure.

2)dangote budget 9$ but later spent 18 billion... most of this money was borrowed from Nigerian banks... namely Access Bank; GT Bank; Zenith; UBA; Fidelity and Afriexim Bank etc... browse the Internet n learn things

3) the faster we get our fact right by building new refinery so as to produce our fuel the better will our economy heal.

4) turn around maintenance on the old scrap refinery built over 40 years ago has not yielded anything... those refinery are old.... they are 40 years old plus

any one that tells you we don't need new refinery but we should keep importing, mounting pressure on scarce dollars then that person is an enemy of the Naira.

am an economist... let me school you a little....
Please study more on economic theory such as Mercantilism and Economic Nationalism.

But for now here is why Nigeria must do everything possible to stop the importation of everything :

Importance of export to a country

Economic Growth:Exports play a crucial role in boosting a country's economic growth. when the list of what we export grows way longer than what we import then true economic prosperity for all Nigerians
Foreign Exchange Earnings: Exporting allows a country to earn foreign currency. if we can refine our own oil and surplus could be exported to West African countries, that way we earn more foreign currency
Foreign Investment Attraction: Countries with strong export-oriented industries often attract more foreign direct investment (FDI).
Enhanced Standard of Living: Export-led growth can lead to an improved standard of living for citizens... today we import everything including toothpicks,fuel which God has blessed us with this has made Nigerians poorer not richer

creating jobs
improving the overall well-being of its citizens.

disadvantage of export to a country

Trade Deficit
Job Displacement
Loss of Domestic Revenue
Dependency on Foreign Suppliers
Reduced Domestic Investment

Good bless the Nigerian army.
may Good continue to keep you people in good health and safety..


flush the criminals out of south east for us please

APC brought a problem and now say we should endure why they solve the problem.

Buhari came and borrowed money from left, right and center. @ 2015 external debt was 7 billion dollars and by 2022 it hit 40 billion dollars now they are using 96% revenue to service debt

had it been they used just 20 billion from the loan to build refinery we won't be facing this crisis rather they used it for unproductive venture like building railways to Niger Republic which cost 2 billion dollars, search for oil in North East which cost 2.5 billion dollars plus other stupid spending

a petty thief will always remain a petty thief

FreeStuffsNG:
While some are selling all they have to make US, these ones got the opportunity on merit and will even be rewarded with more accolades when they reeturn home after their training completion. If you are great in what you do, the world will notice your light. It's because most of you were defeated and out competed here in Nigeria that makes you think that you can only make it outside.

Its because your Buhari borrowed our future out. to the extent that we now use 96% of revenue to service debt... 'no money for health, education and infrastructure.

our money is now like worthless shit paper

imo state the once peaceful state known for its night live and people of happiness n ngwori.. now a state of killing and terror since hope uzodinma took over

GarkiAccessory:

Thanks man I really appreciate you for granting my request

welcome bro

GarkiAccessory:
@ 004gist

Please kindly edit your post you quoted me with in the other thread. Thanks for your understanding.

is it about the land. it has been sold.

I sold it at give away price just to japa


Or about removing you from the quote?

post=124577659:

The banks created this arbitrage to make money. They are the ones encouraging black market.

not the banks but the government.
see this problem came from the excess borrowing Buhari did.
as at today Nigeria external debt is 42 billion dollars.
Remember that OBJ... God bless him. Nigeria dont know what that man did for them.. he assembled a sound economic team and negotiated for debt relief which they got 18 billion loab forgiven and they paid 18 billion.

then slowly Nigeria government started Borrowing... from China, EU, World banks etc. and this comes with debt servicing there was even one time they wanted to borrow 30billion dollar before covid-19.. it was Saraki led Senate that blocked it.

almost 80 to 90 percent income is used to services this loans and not to talk of subsidy payments.... that's why they had to remove subsidy.

The government don't have fx to pump into the bank to meet foreign needs. this brings the arbitrage you talked about

when voting in any one into the position of president most especially Nigerians most look beyond tribes and religion and vote sound minds.... truth be told the past administration over borrowed and i doubt if they listened to professional advice or just advice from criminals who want to loot and don't care for Nigeria

Badgers14:


You know, something I never quite understood is why would one need dollars when Nigeria currency is naira.

If anyone want to pay their supplier or pay for this kids education or medical bills abroad the simple way and common sense way would be to just walk into your bank and complete a form, the bank withdraws from your account and complete the wire transfer for you at an official rate.

The system of going to buy dollar in the black market and pay into your Dom account to effect these transactions are ridiculous... it's not like your bank will physically carry the cash to the foreign account where the payment is going

people that I know who applied in banks as at January have waited till this very moment, yet no dollar

We just k ow the right things to do in this country but will not do it!!

First remember that almost everything... electronics to everything. 'including the phone u used to type this.. even your shirt and shoe u put on are imported n as such imported with dollars.

marketers, traders that buy from China do so with USD. they buy it n put it in their dollar account and send to their contacts in China who send them the goods.

another area is school and medicals those going for surgery that can't be done here.


now come the issue of getting it from bank.. before now like 2014.. you can get Dollars so easily. even your Nigerian atm will pay for goods abroad and has limit of 1000 dollars per day.

But today its been removed, u can't pay with naira.

for example walk into the bank n mention dollar they will look u as if u came to make trouble with them.
hmmmm even if someone sent u dollars from abroad to withdraw it na war.

that you don't travel doesn't mean people aren't traveling... for school etc and they cannot wait for banks else they lose their admission.
I waited for 4 months and till now I still left my application ( in 4 banks) for dollar... no words but total silent from the bank.
I had to buy dollar for almost 5 million naira what I should have gotten for 2.5m since
my admission closes this week n thankfully I have paid via black market

https://www.nairaland.com/7764242/how-tinubus-forex-policy-growing#124414947

u might say am a big man... na lie oh.. am a hustler like u that wants to go those places Buhari n tinubu children acquired their education.

I have graduated for almost 8 years no job... I just managed saved this funds from online Web development I learnt as no job with hope of getting job n better life abroad

clinician2x:


U don't understand what I am saying. Tinibu said he has floated the naira and unified the exchange in the first 1 week of his regime.

Why are we still having two separate exchange rates?

He dragged the official rate from about 400 to equal the then black market rate of about 750 so that there is no more black market rate.

So what is happening today?

I just explained to you.. government has no direct control of black market except indirect control which is pumping more dollars to crash the demand of dollars in the black market.

When there is less demand in the black market then Aboki will be forced to sell less price.

understand the concept?

unification is just a lamba to confuse everyone... the word is depreciation of the Naira subject to demand n supply to give its true value...
by so doing government is saying we can't subsidized naira again just as they did for fuel


that's why i said this government is not pro socialist.


dollar today is 870
from what I used my eye to see last week when I wanted to pay my fees abroad, its going to hit 900+
https://www.nairaland.com/7764242/how-tinubus-forex-policy-growing#124414947

where is the dollar to buy self?

the floating of the Naira is a great threat to the existence of the poor in Nigeria.
you float naira and remove subsidy at sam time.... jesus

clinician2x:
I thought they said tinubu unified the naira dollar exchange rate and there's no more black market. Why are we still talking about black market and what exactly did tinubu do?

without black market you won't able to source fx at a given time..

its like going to access a service in a government hospital with long queue to see the specialist which might take anytime from 2months.

are u willing to go to bank to wait 2 to 3 months to get Dollars? or you walk to the close by black market and get it today today as time is money
.
you might say there is dollars in the bank... please take a walk to the bank and demand for forex... they will say untill they get willing seller then they will contact u who is willing buyer... untill then no dollar for you.

black market will exist as long as there is scarcity of dollars in the bank.

same way private hospital will thrive once you can't access same service in government hospitals on time

we told them that obidient is better than sacrifice them no hear

JealousCobra:
😎


Op, if you're jovial they go kill you with enjoyments.

That's Igbo man's tender and caring nature for you be that. But could turn to a lion when deliberately provoked!!


SE is the the safest place to live and do business regardless of what haters are spewing.

South Easterns (igbos) won't kill u or beat u even if u insulted their god, papa or mama.
don't mind anything u see on Internet about igbos. igbos are friendly and only mind their business.

But don't try to steal....else they roast u alive.

more also the sit at home.. every Monday... u can move out especially in the afternoon and evening . but morning just stay in the street.

no threat or whatsoever.