eaglechild: So the mallam was clueless all along.

Sincere9gerian: Since the FG sacked the controversial former CBN governor, Mallam Sanusi, followed by the appointment of a new CBN governor, the nation has witnessed a steady rise in the foreign reserve and excess crude account. In addition, the naira has been relatively stable.

It will be recalled that before this period, the nation's foreign reserve and excess crude account was on a free fall. The foreign reserve fell from near $50 billion by end of 2012 to about $37 billion early this year. The excess crude account also fell from about $10 billion to a little above $3 billion within the same time frame.

However, the kicking out of the ENEMY WITHIN the govt, Mallam Sanusi, and appointment of a new CBN governor reversed the downward trend in both indices. The nation's foreign reserve has now risen to almost $40 billion. In fact, Nigeria’s foreign exchange reserves rose by $1.436 billion to $39.333 billion between July 4, 2014, and August 5, 2014 representing an increase of 3.65 percent over $37.897 billion recorded in July this year.

fitzmayowa: Just asking...was sanusi responsible for the drop in excess reserve

vedaxcool:

Ebola Jonathan supporters are not the smartest cookies in the jar, poverty seems to have erode their ability to make sound judgement and by extension their comments on this thread. For #30,000 this individuals have sold their future and their children future, tell me what is more shameful and soul drenching than that?

fitzmayowa: Just asking...was sanusi responsible for the drop in excess reserve

Largas:
[s] we are posting smart, you are posting trash.[/s]

Sincere9gerian: Since the FG sacked the controversial former CBN governor, Mallam Sanusi, followed by the appointment of a new CBN governor, the nation has witnessed a steady rise in the foreign reserve and excess crude account. In addition, the naira has been relatively stable.

It will be recalled that before this period, the nation's foreign reserve and excess crude account was on a free fall. The foreign reserve fell from near $50 billion by end of 2012 to about $37 billion early this year. The excess crude account also fell from about $10 billion to a little above $3 billion within the same time frame.

However, the kicking out of the ENEMY WITHIN the govt, Mallam Sanusi, and appointment of a new CBN governor reversed the downward trend in both indices. The nation's foreign reserve has now risen to almost $40 billion. In fact, Nigeria’s foreign exchange reserves rose by $1.436 billion to $39.333 billion between July 4, 2014, and August 5, 2014 representing an increase of 3.65 percent over $37.897 billion recorded in July this year.

kernel504:

He was too biased and sectional as the central bank governor. His policies and "approach" towards reforms are too poor, example the way he handled the rot in Oceanic bank and other banks affected investors confidence towards Nigeria banks.
Today, Key-Stone bank and some other banks that came out of that reform are having empty halls, because they don't have investors confidence anymore, with lots of people rendered unemployed as a result of his uncalculated economic approach.

In America and Europe is common seeing banks involve in shady deal, but then, they are often sanctioned with investors interest protected.

JEITO: Sanusi lamido sanusi following the footsteps of Abacha since 1759

He went to sign an agreement that brought Islamic banking into Nigeria.



Since then......

1wolex85: simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude account has increased?

Someone who has a logical explanation should please post.

1wolex85: simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude account has increased?

Someone who has a logical explanation should please post.

Alishachris:

you mean now you can now lie and manifacture figures like okonjo is doing? Economy is growing yet things keep getting harder for the poor! hlthe cost of living keep increasing! And if I hear that dollar has been relatively stable, I will paint your face with patrick sawyers ash!

Sincere9gerian:
Yes, through his actions or inactions as the then CBN governor

jpphilips:

Its been long I saw dollar at 160naira truth be told, it got so bad that it sold for 169naira at some point, I really don't care who did what, all I demand is results, don't be amazed that if you go deeper into the nitty gritty of this current economic growth, it may transcend beyond CBN and whoever is piloting its affairs.
Cant get excited in a Jonathan's administration, his failure to sack Onyebuchi chukwu on this Ebola madness is incompetence personified.

1wolex85: simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude account has increased?

Someone who has a logical explanation should please post.

atlwireles:

Why do you vomit rubbish all the time?

jpphilips:

It is not my fault that you are a m0r0n who don't understand English

atlwireles: The market has been saved from that constant pressure the Naira was under. Sanusi spent about $1.5B monthly supporting the Naria. Since the new CBN chairman came on board, exporters have become the regular suppliers of dollars to the market, not CBN.

vedaxcool:

Ebola Jonathan supporters are not the smartest cookies in the jar, poverty seems to have erode their ability to make sound judgement and by extension their comments on this thread. For #30,000 this individuals have sold their future and their children future, tell me what is more shameful and soul drenching than that?