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Nigerians have been short-changed

MAKE WE REFINE OUR THING FOR HERE.

POLITICIANS, UNA NO GREE.

They should have told China or the Russia with any scathing effects.

If the dollar is the international currency for international trade, then does it mean we do not have savings in dollars for Nigeria? Or are we saying we simply just do not want to use the dollar.

I think the fact is we are lacking in the dollar in terms of foreign reserves/savings of course due to s short fall in revenue mainly oil earnings. So we do not have enough international currency to buy stuff within the international market.

And things keep getting worse by the day;may God help us all.

Thank u lord, thank u lord, thank you Lord. In every circumstances give thank to God

Honestly this kind of news demoralise the masses esteem.

Can't we for once hear a good news?

Ugonnax:


Yoruba...keep blaming Emefiele when clearly the new minister if finance the weave-wearing Adeosun has no clear conviction nor direction on fiscal policies.

you know those scavengers!! During Gej, they blamed him and okonjo instead of sanusi, now they're now blaming Emefiele instead of PMB and commissioner..

Another word for buhari is badluck,APC means scam,Nigeria is just their punching bag. Na wah o.

Chubhie:
Buhari and Apc are curses to Nigeria. it is not rocket science that Nigeria won't survive four years of these two destructive forces---Apc and Buhari.

now u can see why I have been critical of this government right from the onset. This is a government completely filled with totally clueless ppl that have no idea of what to do at any given moment.they only thing they feel jumpy about and which causes their adrenalin to rush up is when they want to blame pdp or gej.it is then their brains start working

Who are the foreign suppliers?

Their names/countries?

Are their transactions legitimate?

This is no good news oooooo

This is Michael Jackson bad...

Chai! Buhari go curse d day he won dis election o.. ona wan gv my booboo hrt attack?? This is a betrayal of trust o

Isorite

Na LASSA FEVER go kill this leaders of our Country. Even to enjoy a little Change We want from this PMB's regime, everythings still hard for Us to buy, even Garri now is poison with RATS of LASSAFEVER.

chesterlee:


Kemi Adeosun has done virtually nothing since she was appointed

Buhari goofed big time by appointing her.

Does this peeping queen look like she knows what she is doing?

Goke7:


of course since Nigeria is broke, then the CBN is broke too, remember our major revenue which is from oil is depleting with the falling oil prices so cbn definitely can't have enough FX as we speak to support these transactions, the banks themselves are not healthier either, its all joined together.

Don't you think the anti-corruption drive by PMB to recover stolen monies may be targeted to shore up our dwindling FX? could it be that's the reason why the FG is taking it too serious to the extent that folks are wondering why they are expending so much energy on it instead of focusing on the economy? I think the answer to this is that Govt through the CBN truly doesn't have enough funds to run the economy yet.

What of diversification of economy to agriculture like cocoa in South West. If Buhari cannot cope with the Economy, he should divide the country peacefully.

Nigeria at the moment lacks a functioning government.

Rather than find ways to fix the economy, buhari just wants to show muscles to the militants in the Niger Delta, he needs to ask obasanjo how well his force worked, not even the massacre of odi stopped the militants until yar adua gave them amnesty.

They militants have just one mission, to destroy oil facilities and I have been watching foolish brain lacking buhari supporters calling for airstrikes on the same creeks that house these same facilities which will also lead to the total destruction of the oil installations.

Buhari's stubbornness and lack of education will ruin this country if care is not taken, no wonder IBB kicked his ass out the first time.

Buhari is no savior as his sycophants are painting him, he is just a power drunk old man that didn't get the opportunity to loot as president the first time. If he is a saint, he should probe IBB so that he will open his stomach.

THE CHANGE FRON APC LEAD ILLITERATE QUOTA PROMOTED GENERAL.. EXPECT THE WORST.

onatisi:
now u can see why I have been critical of this government right from the onset. This is a government completely filled with totally clueless ppl that have no idea of what to do at any given moment.they only thing they feel jumpy about and which causes their adrenalin to rush up is when they want to blame pdp or gej.it is then their brains start working

I gave buhari benefit of the doubt.alas, I was wrong and you are right. my apologies. you must be a prophetic patriot.

I smell the long awaited Revolution!! the youths of this country will rise again!!

Hmmmmm. na wa o.

The unfortunate thing is that at any given time, they will always drop one ear-itching news to keep the gullible Nigerians engrossed in discussion such that they won't even remember to objectively assess the govt.

OH....my country....

I blame Gej

Great decision.

- reforms in the banking sector is ongoing
- reforms in forex management is ongoing
- reforms in political administration is ongoing
- export is now our focus
- fuel business is to be driven by NNPC
- economic reforms now on the way to be led by entrprenuership
- economic growth to be bottom - up

Amazing actions by government ...Sai Buhari

In the word of a wrestler by King Barrett " I HAVE A BAD NEWS"!!!!!!!!

appini:
And the duarian keep chasing shadows.

Abegi free PMB joo!

When our refineries were being killed, was he president?

I'm not a die-hard APC person, but we must learn to face the truth.

madenigga:
I blame Gej

I concur.

Bevista:
But, is it not the responsibility of CBN to make FX available for importers? I do not think that DMBs are in a position to fund huge import bills like fuel imports.
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Bank customers (like fuel importers) are supposed to go to their banks to raise LCs for imports. The banks then take those LCs to CBN so that the apex bank can approve and back such transactions.
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I think it is more likely that the CBN is broke on FX. As long as the DMBs have enough Naira to buy FX from CBN, I think they shouldn't have liquidity problems. Just my 2 cents - I'm not a banker.

The DMB's normally are the ones who raise the LC's for imports. They have naira to buy FX from CBN. The problem is CBN doesn't have enough FX for all these imports cos its not collecting as much dollar from crude sales anymore.

Our problem is the supply of forex has dwindled and CBN is trying to do a balancing act so the naira doesn't completely crash at d weight of imports (demand on d dollar) vis a vis supply.

janellemonae:
The DMB's normally are the ones who raise the LC's for imports. They have naira to buy FX from CBN. The problem is CBN doesn't have enough FX for all these imports cos its not collecting as much dollar from crude sales anymore.

Our problem is the supply of forex has dwindled and CBN is trying to do a balancing act so the naira doesn't completely crash at d weight of imports (demand on d dollar) vis a vis supply.

I fully understand the dynamics at play. I agree, you are correct. Are you a banker?

Vanguard is a useless media outfit working hard to disrupt Nigeria's peace and development.

patrick89:
you know those scavengers!! During Gej, they blamed him and okonjo instead of sanusi, now they're now blaming Emefiele instead of PMB and commissioner..

When I say yorubas are the most tribalistic sets of human on the face of the earth, I mince no word. And they do it so smugly, rather innocently with a straight face.

When it works give credit to Dullardin_ho, FOsibanjo and the furry haired Minister/Junior Intern of Finance.

When it fails blame Emefiele-the Igbo guy.

You guys have a long way to go as a people.

Lanretoye:
Okay,what is emefiele doing to cushion the effect of this stringent policy self?

Bevista:
Now I have to admit that there is something fundamentally wrong with this administration and the CBN.
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I thought we were told that the reason why CBN excluded 41 items from their import list was to ensure that essential items like fuel imports can have access to forex?
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I am aware that crude oil price has tanked below $28pb as at this morning and may likely continue lower. Obviously, this will adversely hurt FX Reserves, going forward. But why is the CBN and the Federal Executives really poor in their policy communication, thereby always leaving room for conjectures, speculations & conspiracy theories.

it's not the CBN my brother It's the president that's deciding and taking action but doing it under the umbrella of CBN. have u forgotten that buhari is a military man that is vry stubborn? have u forgotten that he said b4 appointing ministers that ministers are just filling gaps? that's a sign he's the one making all these uncalculated, untrust, bias and ignorant policies and decisions and then later retract only after the damage has been made. (e.g, d N50 stamp charges is another policy that is senseless). this is a sign of inexperience and incompetent by d APC lead government. the nation will continue to see these trend as it will take them yrs of experience to get things right. but we Nigerians don't n won't have such patient.