refreshrate:


i completely agree with you but what steps were taken after May 29th towards preventing this? When there was electrcity supply you all said it was his body language, because this impacts negatively his body language danced around it?

Over a hundred days later lets leave the lame campaign promises for now.

No cabinet in place

No economic policies

No nothing

Which direction the country is heading nobody sabi - or do you have an answer to this?

Be honest even a household cannot be run like this.

Nigeria is not GEJ and GEJ is not Nigeria. When you move into a new house and you see some structural defects what is the first thing you do?

start blaming the previous tenants? Meanwhile you kept going on about how if you were the tenant you would take better responsibility of te place.

I really do not understand what you are justifying here and quite frankly obiageli should just go back to the roundabout and continue shouting bring back our girls under the sun and stop trying to justify mediocrity

989900:
Between JP Morgan's withdrawal and the withdrawal/unremmited tens of billions of dollars lost to corruption, which is worse?

You guys find excuses to justify your own money being stolen right under your nose, but wail murder on some other guy withdrawing his own money.

Some guys on the Tunde Bakare thread yesterday, even saw no wrong in Orubebe/GEJ giving the pastor $50,000 as transport money!

Orikinla:
. Many people really need help with ratiocination on Nairaland. Buhari took his oath of office as President of Nigeria on May 29 and there is no way he would have been able to change a decision by a foreign firm months before his swearing in ceremony as the new President of Nigeria. And again, many people are making more noise than sense on this matter and especially those who don't even understand it at all.

Obiagelli:

Should we have devalued our currency to please JP Morgan?
Even if we did, you will be here to say how the naira has fallen under Buhari

Obiagelli:
Full article


“Sanusi had high credibility in the
international markets and both the nature of
his exit and the context resulted in an
increase in Nigerian risk premium, which
has remained,” Jim O’Neill, the former
chairman of Goldman Sachs Asset
Management, who now works as a
Bloomberg View columnist, said in e-mailed
comments from London on Jan. 28.
Negative Watch
JPMorgan, placing Nigeria on “index watch
negative,” said the drop in currency and
bond trading “challenges the ability of
foreign investors to replicate the
benchmark.” The New York-based lender
will make a decision within five months.
Craig Macdonald, a spokesman for JPMorgan
in London, declined to comment.
.

Obiagelli:
I have read countless comments from the pdp and it's supporters about the decision by JP Morgan to remove Nigeria from it's bond index, the truth of the matter is that they had warned to remove is as far back as January 2015 for currency restrictions.

Was Buhari president in January?



www.bloomberg.com/news/articles/2015-02-05/nigeria-woes-deepen-as-jpmorgan-hits-emefiele-with-debt-warning


NB. I am totally indifferent about currency restrictions or JP Morgan itself.

I heard tonyebarcanista or Barcanista mentioned this as Buhari's failure in his thread.

Obiagelli:

The only step is to devalue the naira.

millionaireman:


For your lot, the former Finance minister was "an epic failure."
The minister was a war-time finance manager as well as finance manager for Nigeria - if at all you understand what Nigeria loses internally and from absence of foreign investors monthly through your Boko Haram.

And in the period, Western Economic Intelligence announced to the world that Nigeria's economy had just overtaken South Africa's as Africa's fastest growing economy.

Your lot's response was that it was a lie. That if it was true, majority of Nigeria should not have remained poor. Your lot's next response was to contrive all sorts of falsehood as political propaganda and use them to sack the same government, then replace it with who? Replace it with a new government headed by a man who may not even understand what J.P. Morgan Stanley and listing Stanley and listing stand for.

refreshrate:


Same tunde bakare that came out to say this same buhari asked him to sign resignation letter from his post as vice president before the election was even conducted now has a better sin compared to the 50,000 dollar transport fare thing.

I hear you

naijaking1:


What's wrong with devaluing the naira when oil is approaching $20 a barrel?

Ioannes:


well your own "lot" will have us worship the woman as our goddess and not ask questions. sorry bro, not happening. you mentioned boko haram, now, who treated that particular monster with kids gloves. remember the " i cant kill them, they are my siblings" speech from an equally clueless president?
ex-president obasanjo cleared our debts before leaving office, now barely 8yrs after we are back neck deep in it that poo.
Yar'adua the sickly president even left a sizable sum in the nation's treasury. Fast forward 6years later and after oil revenue had soared to an all time high, the highest ever in the life of any government in this country, our treasury has taken a huge hit and slumped to the point that the federal government had to borrow money to pay salaries earlier this year. I guess to you and your "lot" all these are worth applauding and commending. Thank God we haven't all lost our sense of what is right and wrong. We will continue to speak up on such fora and hope that our orientation changes for the better. all the best though.

millionaireman:



Oby my dear,
Judging from the above statement of yours, I became convinced that you don't know why and how national currencies are valued and devalued.
Depending on trade indices, countries even purposely devalue their currencies to increase their exports. That is for countries with strong manufacturing base anyway.

But a country like Nigeria that hardly exports anything except crude oil cannot comfortably decide what it's currency can value vis a vis other countries' currencies.

Buhari promised during his campaign that he would make one Naira equal to one Dollar. That's the time Nigerians should have taken Ben Johnson from Buhari's campaign. But Jonathan phobia and Igbophobia wouldn't allow them.

989900:


You guys just don't get the drift . . .

It's more about financial recklessness and the attitude/mentality of our people, and less about the mentioned names.

Are we in Grade 3 now?

989900:


Probably this helps:
https://www.nairaland.com/2573929/poison-further-devaluation-naira

eaglechild:

Please refer to the link and read the full article.

refreshrate:


Same tunde bakare that came out to say this same buhari asked him to sign resignation letter from his post as vice president before the election was even conducted now has a better sin compared to the 50,000 dollar transport fare thing.

I hear you

refreshrate:


The drift being GMB had good intentions when he asked bakare to sign resignation letter even before the elections or what precisely are you justifying?

Yes PDP had financial recklessness in their alley does that now make the intent of asking your vice president to sign his resignation even before the elections a much better thing?

Seriously what could possibly have been the good intent to that?

Im waiting.

Between JP Morgan's withdrawal and the withdrawal/unremmited tens of billions of dollars lost to corruption, which is worse?

You guys find excuses to justify your own money being stolen right under your nose, but wail murder on some other guy withdrawing his own money.


Some guys on the Tunde Bakare thread yesterday, even saw no wrong in Orubebe/GEJ giving the pastor $50,000 as transport money!

Obiagelli:

Should we have devalued our currency to please JP Morgan?
Even if we did, you will be here to say how the naira has fallen under Buhari

Obiagelli:
I have read countless comments from the pdp and it's supporters about the decision by JP Morgan to remove Nigeria from it's bond index, the truth of the matter is that they had warned to remove is as far back as January 2015 for currency restrictions.

Was Buhari president in January?



www.bloomberg.com/news/articles/2015-02-05/nigeria-woes-deepen-as-jpmorgan-hits-emefiele-with-debt-warning


NB. I am totally indifferent about currency restrictions or JP Morgan itself.

I heard tonyebarcanista or Barcanista mentioned this as Buhari's failure in his thread.

naijaking1:


We all know how politics and sociology affects the economy, that's not the question.
What we produce and export(oil) has the most direct influence on the value of our naira.

omonnakoda:


Can you provide a reference for this resignation letter claim please?

millionaireman:


For your lot, the former Finance minister was "an epic failure."
The minister was a war-time finance manager as well as finance manager for Nigeria - if at all you understand what Nigeria loses internally and from absence of foreign investors monthly through your Boko Haram.

And in the period, Western Economic Intelligence announced to the world that Nigeria's economy had just overtaken South Africa's as Africa's fastest growing economy.

Your lot's response was that it was a lie. That if it was true, majority of Nigeria should not have remained poor. Your lot's next response was to contrive all sorts of falsehood as political propaganda and use them to sack the same government, then replace it with who? Replace it with a new government headed by a man who may not even understand what J.P. Morgan Stanley and listing Stanley and listing stand for.

smuth:


Are you admitting that even Buhari's body language cannot make JP Morgan change their mind? The bottom line is they don't trust Buhari's administration. It doesn't matter who was president in January, the decision was carried out during Buhari's tenure so please don't defend Buhari and his daft policies.

refreshrate:


i thought youd never ask



https://www.youtube.com/watch?v=j3fdCqeEGsc

refreshrate:


Same tunde bakare that came out to say this same buhari asked him to sign resignation letter from his post as vice president before the election was even conducted now has a better sin compared to the 50,000 dollar transport fare thing.

I hear you

refreshrate:


i thought youd never ask



https://www.youtube.com/watch?v=j3fdCqeEGsc