Realdeals:
Is she warming up to takeover from Emefiele?

Hiploko:
have u other options that clicking ignore? When you are talking rubbish

kings09:
E rili pain am

ebosie11:

The former minister noted that Russia, another major oil-producing state, has not been badly affected by the plummeting crude oil price because the Central Bank of Russia ceased fixing the exchange rate of the country’s currency when it was faced with empirical evidence of the futility of doing such.

Bekwarra:
That ojuju Calabar. Korede Bello with earrings is more beautiful than Oby

oduastates:
Many people dey fall my hand.
Ekwesili is even using Russia as example.
That is a country with over 12 times the landmass of Nigeria. a country as scientifically and technologically advanced to rival any on the planet.
Russia has the Base to produce most of what it consumes ; if not all.
All they had to do is reduce or restrict imports and look inwards.
Honestly speaking, the Nigerian non-economy built on the foundation on corruption need to be dismantled first and rebuilt.
In a country with this much poverty, can anyone explain why prices rival those of more advanced and richer countries?
Is it not for this bogus illusion of wealth that smaller and poorer countries are able to build better infrastructure for less.
Yesterday, one person was complaining on twitter that he could not pay his children tuition oversea because of the restrictions.
I was like, are these guys for real?
I support the restrictions they are in order.
Look inwards.
It seems to me that most are not even aware of the dire strait Jonathan and Iweala left the country and what is about to hit them if oil prices continue to fall.
Obasanjo avoided those reckless policy prescriptions from the worldbank and IMF, Knowing fully well that the Nigeria would either be used as a dumping ground for poisonous chicken or the excess that cannot be sold at home by advanced countries or used by developing ones as an experimental ground on their way to the first world.
Mass corruption,reckless increase in the size of the government and foolish government policies leading to the enlargement of the appetite of the country for foreign imports.
Guess what, the per capita money coming from the Niger delta and diaspora keeps shrinking year by year and cannot pay for that appetite.

PHfinest:


Since you claim to know more about the economy than PMB, it is definitely more obvious that PMB has absolutely no clue about what direction to steer the economy.

He fired so many people from the past administration, yet no liver to fire Emefiele?

jakiedudu:
Activities and policies of CBN are always tied to the fiscal policies of the executive arm of govt. If fiscal policy of the executive is not forth coming, the CBN device ways to bridge the gap. The current policies of CBN is a direct consequence of fall in oil price and lack of fiscal policy direction by the executive.

LordAdam:
Someone should lock this woman up. Or at the very least, she should not be allowed to use Twitter unless she has taken her meds.

She is addressing the wrong issue. Russia is a world power, they produce most of what they need, and they have an incentive to let the rubies slide. A weakened currency is a blessing to any nation that exports a lot. Nigeria is in a different situation. We import everything from tooth pick to tomato paste. So I do not see her point.

She is only trying so hard to drum up public sentiments against Emefiele. I don't like the man, but I will not stand by for a saboteur like Oby to assassinate Emefiele's character. We are still reeling from the one they did to GEJ.

Her other suggestion about public sentiment on paper sounds great, but it is impractical. Most Nigerians know nothing about the economy and the process will be skewed, not to mention the huge monetary cost of ensuring smooth running of such process.

I pity Nigeria! And she is supposed to be a technocrat.

-Lord

ebosie11:
Former vice president of the World Bank, Mrs Obiageli Ezekwesili has criticized the policies of the Central Bank of Nigeria (CBN) under the leadership of Mr Godwin Emefiele.

Ezekwesili, a former member of the federal executive council, condemned the CBN for pursuing what she described as an “anachronistic exchange rate management” which she said also actively rewards corruption.

Accusing the CBN Governor, Emefiele of doing more damage to the Nigerian currency in a bid to pander to political emotion, Ezekwesili advised that the most honourable path for the CBN in the present situation is to accept that it made the wrong decisions and reverse its steps.

The former minister noted that Russia, another major oil-producing state, has not been badly affected by the plummeting crude oil price because the Central Bank of Russia ceased fixing the exchange rate of the country’s currency when it was faced with empirical evidence of the futility of doing such.

Besides criticizing Emefiele’s decision to fix the exchange rate, Ezekwesili also gave her opinion of what she believes the foreign exchange rate should be:

By FIXING the rate @cenbank basically FROZE the market for supply & demand of Forex & what we see are all forms of CONTROLS that don't work.
— Oby Ezekwesili (@obyezeks) December 21,2015

The exchange rate should be "the ratio between the demand for foreign currency and its supply in the FX market". @cenbank RESTORE THIS.
— Oby Ezekwesili (@obyezeks) December 21,2015

Ezekwesili further challenged the CBN to organise a public debate on its exchange rate management policy in the new year so that the apex bank can take public input into its policy formulation process.


https://mobile.twitter.com/obyezeks/status/679007339886723072

oduastates:



My analogy

Your chicken, that used to give birth to 2 babies ( chucks) all of a sudden started pricing 10 chickens because the sun was shining.
Instead of being cautious of this unusual bounty,you decided to live large.
Married two more wives
Threw big parties everyday and live life to the fullest.
Put it on my tab you said to everybody
This bounty continued for 5 years until one say, you woke up to find that your bird is only giving birth to one chick
Meanwhile you have debts everywhere from beer supplier to.... Caterer.
You have also refused to adjust to your new reality.
Meanwhile more people now sell chicken.
Are you prepared for N500 to $1 because the dollar supply will not increase but the unhealthy appetite for imported rubbish will still be there.
Meanwhile, Nigeria has less than 1 year worth of forex.
You nay choose to propone the pain

I SM SORRY TO SAY THAT THE PAIN IS/WAS INEVITABLE AND IT HAS TO BE ENDURED


Correct my guy ! Hitting the nail right on the head. If we must keep our cravings for foreign products we must equally be ready, individually and collectively to earn the forex that will fuel this habit. As it is right now, oil is not earning enough to suppose our worthless lifestyle

Bekwarra:
That ojuju Calabar.
Korede Bello with earrings is more beautiful than Oby

greatiyk4u:

A dullard spotted

sholatech:
She blames the Cbn Governor and not the administration?

oduastates:



My analogy

Your chicken, that used to give birth to 2 babies ( chucks) all of a sudden started pricing 10 chickens because the sun was shining.
Instead of being cautious of this unusual bounty,you decided to live large.
Married two more wives
Threw big parties everyday and live life to the fullest.
Put it on my tab you said to everybody
This bounty continued for 5 years until one say, you woke up to find that your bird is only giving birth to one chick
Meanwhile you have debts everywhere from beer supplier to.... Caterer.
You have also refused to adjust to your new reality.
Meanwhile more people now sell chicken.
Are you prepared for N500 to $1 because the dollar supply will not increase but the unhealthy appetite for imported rubbish will still be there.
Meanwhile, Nigeria has less than 1 year worth of forex.
You nay choose to propone the pain

I SM SORRY TO SAY THAT THE PAIN IS/WAS INEVITABLE AND IT HAS TO BE ENDURED

oduastates:
Many people dey fall my hand.
Ekwesili is even using Russia as example.
That is a country with over 12 times the landmass of Nigeria. a country as scientifically and technologically advanced to rival any on the planet.
Russia has the Base to produce most of what it consumes ; if not all.
All they had to do is reduce or restrict imports and look inwards.
Honestly speaking, the Nigerian non-economy built on the foundation on corruption need to be dismantled first and rebuilt.
In a country with this much poverty, can anyone explain why prices rival those of more advanced and richer countries?
Is it not for this bogus illusion of wealth that smaller and poorer countries are able to build better infrastructure for less.
Yesterday, one person was complaining on twitter that he could not pay his children tuition oversea because of the restrictions.
I was like, are these guys for real?
I support the restrictions they are in order.
Look inwards.
It seems to me that most are not even aware of the dire strait Jonathan and Iweala left the country and what is about to hit them if oil prices continue to fall.
Obasanjo avoided those reckless policy prescriptions from the worldbank and IMF, Knowing fully well that the Nigeria would either be used as a dumping ground for poisonous chicken or the excess that cannot be sold at home by advanced countries or used by developing ones as an experimental ground on their way to the first world.
Mass corruption,reckless increase in the size of the government and foolish government policies leading to the enlargement of the appetite of the country for foreign imports.
Guess what, the per capita money coming from the Niger delta and diaspora keeps shrinking year by year and cannot pay for that appetite.

stokfrick:
U all are here ranting about forex policy and Nigerian economy as if the so called clueless government don't know what to do. If, like I' ve always said, nigeria is not cursed with cursed corrupt leaders, what is big deal in immediately diversifying the economy using other natural resources to generate funds and strengthen our currency? No! Instead they keep engaging in publicity stunts with the press, excess talk giving people false hopes with empty false news!

brainiac007:

This statement is irrelevant!