Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,600 members, 7,809,183 topics. Date: Friday, 26 April 2024 at 03:31 AM

Buhari Takes Over Central Bank Naira Management - Bloomberg. - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Buhari Takes Over Central Bank Naira Management - Bloomberg. (38492 Views)

Aisha Buhari Takes A Walk With Her Grand Daughter (Pictured) / After Secret Talks: Buhari Takes Steps To End Feud With Tinubu / Buhari Takes Water As Osinbajo, Saraki And Chief Justice Take Juice (pic) (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Nobody: 11:03pm On Jan 29, 2016
lionness:
I dont know why we cant just keep printing cash (I mean in a way we are about the ONLY person who knows we are doing this. America does this all the time without anyone knowing...why does Bubu have to watch our economy tank without doing something about it"

we cant just keep printing cash dear. i am sure you have heard of the word inflation. its a nasty business.

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by omolola15(m): 11:09pm On Jan 29, 2016
happney65:
omolola15 come and see..Your Mr Bubu don spoil our economy finish..Una never start..Shiorr..

Se you read am at all ?? He said he does not support devaluation for some reasons. Some mumu said he has taken over the affairs of the CBN. Yaradua stopped soludo from redonominating the naira in 2009 abi na which year self. No one said he's a tyrant or he has taken over CBN. Free me I beg.

I take your mama and papa beg you. And all your girlfriends. No quote me again this night.

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Nobody: 11:15pm On Jan 29, 2016
lionness:
I dont know why we cant just keep printing cash (I mean in a way we are about the ONLY person who knows we are doing this. America does this all the time without anyone knowing...why does Bubu have to watch our economy tank without doing something about it"

Printing excess cash won't save but rather kill the economy. The paper money is not the real MONEY. Money is measured in the value a country has (resources, labour, etc) printing more cash is like creating a false value which will lead to an illusion of wealth and in a short time an uncontrollable inflation.

Assume you buying a loaf of bread for 100k against the present amount 200 naira or thereabout.

3 Likes 1 Share

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Owliver(m): 11:16pm On Jan 29, 2016
lionness:
I dont know why we cant just keep printing cash (I mean in a way we are about the ONLY person who knows we are doing this. America does this all the time without anyone knowing...why does Bubu have to watch our economy tank without doing something about it"
Dollar is generally accepted everywhere as a medium of exchange. naira is only accepted in naija, Benin republic and probably kotonu. inflation comes to mind


that's one of many differences.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Zurielistic: 11:26pm On Jan 29, 2016
Ette Buhari, mbok devalue the naira so that mma ndi exchange dollar ye naira okuk mmi afiak adok etuk.

#TeamBloggersGettingPaidIn$$$ButReceivingInNaira

If you don't like this, adiok ano uka.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by GenOrumov: 11:28pm On Jan 29, 2016
Topeakintola:


Thank you sir!

The greatest opponents are importers

Why??

We all know the answer!
Those importers are the greatest opponents. Importation became the easiest business to engage in in Nigeria. Most of them do not rent office space, do not employ staff (thereby reducing the unemployment rate), do not pay taxes and therefore hardly contributing anything to our economy and GDP. Unfortunately for them, Nigeria cannot continue that way. We now have to start manufacturing all what we can. They now better switch to another business model.

2 Likes

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by happney65: 11:31pm On Jan 29, 2016
omolola15:


Se you read am at all ?? He said he does not support devaluation for some reasons. Some mumu said he has taken over the affairs of the CBN. Yaradua stopped soludo from redonominating the naira in 2009 abi na which year self. No one said he's a tyrant or he has taken over CBN. Free me I beg.

I take your mama and papa beg you. And all your girlfriends. No quote me again this night.

grin grin grin..There you go again..You Fans of mr bubu seem to forget so soon..We all gave Soludo thumbs up when he came with the policy until when Yaradua said NO..And we complained that Yaradua wanted to keep the corruption in the system going abi no be so?I guess una don forget..

Anyway sha,The Economy don crumble ohh..Dollar don rise Gann and he don affect us while Mr Bubu dey fly all around town..I wan make a deposit of $1000 now i dey calculate how high i would be paying...Dammmm Mehnnn
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Seunjungle(m): 11:31pm On Jan 29, 2016
Poor wailers will still have to talk that God sent (Buhari) did evil here....if the traders and extort ants are not favoured in this ongoing change.. does that consign me? NO!

GOD ALMIGHTY please grant your servant Baba Bihari that strength he needs to force that positive change..amen!

Ride on CHANGE!!!
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by DONFASZY(m): 11:33pm On Jan 29, 2016
buhari is 75yr / 2 younger
he is a strong man...taken ova anytin
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Etizz: 11:40pm On Jan 29, 2016
If you need to get something done, you got to do it yourself..... Cappish?

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by omolola15(m): 11:46pm On Jan 29, 2016
happney65:


grin grin grin..There you go again..You Fans of mr bubu seem to forget so soon..We all gave Soludo thumbs up when he came with the policy until when Yaradua said NO..And we complained that Yaradua wanted to keep the corruption in the system going abi no be so?I guess una don forget..

Anyway sha,The Economy don crumble ohh..Dollar don rise Gann and he don affect us while Mr Bubu dey fly all around town..I wan make a deposit of $1000 now i dey calculate how high i would be paying...Dammmm Mehnnn


After all the beg. You still quote me. Na thunder go fire your left balls.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by adimoh99(m): 11:47pm On Jan 29, 2016
Am yet to understand where we are going with all this policies here and there. Though I choose to remain positive.

Well, I am not in any way particular about any political group or persons, what is important to me is for our govt to set the right standards, make right decisions and policies that will lift the country from the current decayed state to a better one which is the utmost cry of the average Nigerian.

We must also understand that there's no backlash we give here that will affect their decision so why not turn those words into positive words for the betterment of our great nation.

God bless Nigeria
God bless Nairalanders
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by happney65: 11:52pm On Jan 29, 2016
omolola15:



After all the beg. You still quote me. Na thunder go fire your left balls.

grin grin grin grin grin
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by lilygabriel08: 11:52pm On Jan 29, 2016
so he is CBN governor?!!
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by olajide8(m): 11:59pm On Jan 29, 2016
The few 3% that benefit from importation of every item are really on this devaluation case O! We are not devaluing that's all!!!

The CBN has not devalued the naira is at this rate isn't it common sense'tistical' for them to know that if the govt., devalues that's the end of nigeria*, our exportable items would be valued negatively - an average Nigerian does not want the best for nigeria' - daniska currency speculators

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by santori: 12:00am On Jan 30, 2016
I just enjoys seeing the wailers wail, I don't why? It's like their wailing gives me joy

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Johnsinia(m): 12:04am On Jan 30, 2016
When a FOOL is elected as president by the majority FOOLS. The FOOL will just be playing basketball with the nation's economy. A FOOL who couldn't read, write and communicate properly shouldn't surprise any sane person while making one of his useless policies.

1 Like 1 Share

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by ngoziama: 12:54am On Jan 30, 2016
Adminisher:


So you support devaluation. That is very very stupid.
Buhari is not in office because of rich people and traders . He is in office to FORCE CHANGE. NigerIa is the most blessed country on earth. Let us stop importing blindly. Let genuine , creative and resourceful people arise out of this trouble to change the way we do business. Bloomberg does not have more interest in Nigeria than us Nigerians.




You do things in phases.TSA was initiated by gej administration but they planned the introduction in phases.Do we have steady power supply, do we have security,no good road network.we need to gradually fix these then proceed from there.
The way things are going nigerians maybe forced to address this president as general buhari. The whole scenario reminds one of 1983.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Nobody: 1:06am On Jan 30, 2016
Wait o...na by force to devalue our currency? The last time China devalued hers na same people dey shout. Abeg if dey want make we devalue our Naira make dem wait till when we become exporting economy... But as e dey so...no to devaluation

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by sammhi(m): 1:22am On Jan 30, 2016
Emekamex:
Emefiele is the fool that is allowing his office to be undermined by the president.
stop writing thrash...this is africa and this nigeria..the president dictates what happens. PMB is not the first president to do that....if the cbn governor tells him and he refuses, then the president case holds.
we are not yet mature to the point where cbn is truly independent ...not yet sir

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by 4Play(m): 1:46am On Jan 30, 2016
olajide8:
The few 3% that benefit from importation of every item are really on this devaluation case O! We are not devaluing that's all!!!

The CBN has not devalued the naira is at this rate isn't it common sense'tistical' for them to know that if the govt., devalues that's the end of nigeria*, our exportable items would be valued negatively - an average Nigerian does not want the best for nigeria' - daniska currency speculators

This is a breathtaking display of illogic. Devaluation makes imports more expensive and exports cheaper. At 197 Naira to the dollar, import goods are cheaper than at 305 Naira to the dollar. If you import products worth $1m, you need 197m Naira at the official rate and 305m Naira at the market rate. If you export, the market rate means higher Naira income than the official rate.

It cannot therefore be a rational argument to claim that keeping the Naira at an artificially inflated value is a way to cut imports and move towards a more domestic industry driven economy.

3 Likes

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Pinkybush: 2:11am On Jan 30, 2016
Progressive01:
Jonathan is an Ineffectual Buffoon - The Economist.(2016)
your father is an illiterate monkey
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by justmenoni: 2:39am On Jan 30, 2016
If we stop importing today, do we have replacements We want the innoson vehicles but the ceo himself has a range and Toyota, if he can't trust and rely on his own product then what's the sense in it for a Common man to buy an innoson vehicle instead of Toyota.


We have advanced from wearing native clothes and last time I checked there is no good and cheap cloth makers (call it wedtern clothes though) in Nigeria so are you suggesting we all start wearing our traditional clothes cos we want to stop importing?? no don't tell me the abibas,nikke,poma from aba is what we hv to start putting on!!!


Before you stop importation, you need to have provisions for substitute... Dstv is outrageous and I won't mind if they're scrapped but the best bet would be if the govt can encourage unlimited browsing system and with this dstv will hv to beg ppl to subscribe cos we can always stream for free...


We still hv a long way to go and wait if importation will stop then generating sets,tricycles, mobile phones can't be imported to the country again? So what happens?

quote author=Adminisher post=42440517]

So you support devaluation. That is very very stupid.
Buhari is not in office because of rich people and traders . He is in office to FORCE CHANGE. NigerIa is the most blessed country on earth. Let us stop importing blindly. Let genuine , creative and resourceful people arise out of this trouble to change the way we do business. Bloomberg does not have more interest in Nigeria than us Nigerians.[/quote]
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by ehissi(m): 2:58am On Jan 30, 2016
gboss4sure:
Buhari is now the president, minister of petroleum and cbn Governor join.

grin grin

You forgot to add EFCC and SSS Chairman ar the same time!! grin

Abi have you forgotten that baba said he will not release Dasuki and Kanu whether court grant them bail or not!!
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by lastpage: 4:01am On Jan 30, 2016
gboss4sure:
Buhari is now the president, minister of petroleum and cbn Governor join.

grin grin

Okay, let's break it down:

*Bloomberg is a foreign Business analyst et al .... operating in foreign currency
*Bloomberg and anyone for that matter, (like LOOTERS) who operates-in and have abundance of FOREX... STANDS to GAIN a LOT, each time the Naira is devalued.
*The "Poor majority of Nigerians" operate in Naira and get shafted, after each DEVALUATION of the Naira..... and it has happened many, many times in the last Government!
*President Buhari is the C-in-C of their sovereign Country called Nigeria and the "buck" stops at his table! he cant tell us "America should know"! shocked
*Buhari parleys with his Financial Advisors, from CBN Governors, to Finance Minister, e.t.c. They give him up-to-date information and analysis.
* Based on feedback from those "in the know" (not some opportunistic beneficiaries like Bloomberg! or Dollar LOOTERS), the President decided that devaluing the Naira IS NOT in the INTEREST of NIGERIANS....... majority of who dont spend Dollars!
* The President knows, l know and every "right thinking" Nigerian who is not selfish knows that further devaluing a depreciated Naiara at this point, will simply Kill the Naira..... and PMB has said: "I will not kill the Naira".
I salute PMB's courage!


* #Wailers are up in arms over this?

I am like WTF? Is the President supposed to PROTECT the INTEREST OF Bloomberg and their Dollar-looting Investors.... or the interest of the average Nigerian who is suffering the effects of mal-administration, corruption and looting of their patrimony, over the years?


All can say is this: Come Rain or Shine, If Buhari continues on this path, God spare his life, he already Got my VOTE in 2019, for a second term. kiss kiss

... even of he decamps to PDP!
grin grin


Lastpage!

4 Likes

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by holaralph(m): 4:40am On Jan 30, 2016
MagicBishop:




[size=18pt]The Useful Idi0ts[/size]

The last election witnessed the highest voter turnout among young people especially university students.

This was a feat made possible due to the exploitation of social media by the APC targeting the youth which was made possible by the widespread proliferation of smart phones and Internet enabled phone technology among this demograph.

The youths desire to participate in the elections was also largely due to the reformation and strengthening of the electoral body by the last administration which gave the youth a sense of confidence for the first time in their votes.

The youths not only voted but took to campaigning for their candidate and also involved in one form of volunteerism on behalf of their APC.

The delusion of participating in an epoch changing event where their roles were vital and recognised by the politicians gave them a false sense of worth.

This is not unique to Nigeria and it's APC followers but is a reoccurring phenomenon across the west, where newly culturally enriched college kids dump their traditional childhood upbringing and beliefs to embrace vague political ideologies and respective political parties.

For the first time these young college kids, like every newly inducted d novice believed they can and ought to do more to spread the word on their new political ideology which replaces any religious view of their upbringing.

The college student even though bugged down by class work, several low paying jobs and extra curricula college activities will some how find time to sign up as a volunteer for one political candidate or cause.

Before graduating his or her zeal will wear out after finding the system is all rigged not to better society but to further the career ambitions of greedy selfish politicians.

By the time the student finally graduates and gets a job with his degree, he will find out there is more to life than useless politics and from there their zeal dies only to be rekindled in future when they begin to experience mid life crisis.

As for our hatchling APC zombies, they didn't have to wait till they leave school as Buhari and the APC made no time or effort setting out to achieve what they promised and have even come out to deny they ever campaigned on such. This is 101 Politriks that they will never forget in a hurry!

Most of them are now delusional about what change actually means but there still remain a few stubborn fanatics who refuse to let go and are still displaying symptoms of change fever. This minority category are those to whom the elections made a lasting impact on them. I want to believe they got a rush to the head from the elections climaxing during the counting of votes and announcement of their candidate as the winner. To them the elections filled a void for good entertainment just like the world cup and just like Yuri Bezmenov aptly described these "Useful idi0ts" who are easily prone to propaganda as suffering from inferiority complex, these die hard zombies without benefit keep up to date with latest propaganda to fill their empty lives. You will find them here on NL daily posting on "our money" and Dasukigate.

https://www.nairaland.com/2898349/dealing-useful-idi0t-how-reformart

. If you are embedded with the thought that anybody that as ever voiced out is or her thought on this forum ( NL ). Be it in favour of APC are zombies and useful idiots. It therefore means you that you are not a zombie for the past 16years what as your progenitors did to this great country they did nothing than plundering this country and all they do is to favour their selfish interests hugely at the expense of the masses and this great country. Am sure you are the EX- president apologist. That doesn't matter to me anyway. As for bloomberg they don't have the interest of Nigeria at earth in anyway. So if you like leave that trash or start eating it. Let bloomberg continue there way let bloomberg continue broadcasting. Finally As for nigeria I see light at the End of the tunnel that will shine the path of the Nigeria masses.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Analysiscorner: 5:00am On Jan 30, 2016
Progressive01:
Jonathan is an Ineffectual Buffoon - The Economist.(2016)
So pathetic that you registered on Jan. 27 with the sole aim of attacking the person of former president Goodluck Jonathan. I would have expected you to contribute to the topic by giving your reasons why Naira devaluation is not a good option for Nigerians now. By so doing, people will at least take you serious as someone who knows what he is saying.
If you keep blaming somebody when you have been given the opportunity to do your own, at the end you will find out that you have wasted you tenure.

2 Likes

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Analysiscorner: 5:06am On Jan 30, 2016
holaralph:
. If you are embedded with the thought that anybody that as ever voiced out is or her thought on this forum ( NL ). Be it in favour of APC are zombies and useful idiots. It therefore means you that you are not a zombie for the past 16years what as your progenitors did to this great country they did nothing than plundering this country and all they do is to favour their selfish interests hugely at the expense of the masses and this great country. Am sure you are the EX- president apologist. That doesn't matter to me anyway. As for bloomberg they don't have the interest of Nigeria at earth in anyway. So if you like leave that trash or start eating it. Let bloomberg continue there way let bloomberg continue broadcasting. Finally As for nigeria I see light at the End of the tunnel that will shine the path of the Nigeria masses.

Please, tell us why Nigeria doesn't need to devalue the Naira now , and how, no matter the effects, we will come out better of than what would have been the case had the Naira been devalued. .
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by Analysiscorner: 5:09am On Jan 30, 2016
lastpage:


Okay, let's break it down:

*Bloomberg is a foreign Business analyst et al .... operating in foreign currency
*Bloomberg and anyone for that matter, (like LOOTERS) who operates-in and have abundance of FOREX... STANDS to GAIN a LOT, each time the Naira is devalued.
*The "Poor majority of Nigerians" operate in Naira and get shafted, after each DEVALUATION of the Naira..... and it has happened many, many times in the last Government!
*President Buhari is the C-in-C of their sovereign Country called Nigeria and the "buck" stops at his table! he cant tell us "America should know"! shocked
*Buhari parleys with his Financial Advisors, from CBN Governors, to Finance Minister, e.t.c. They give him up-to-date information and analysis.
* Based on feedback from those "in the know" (not some opportunistic beneficiaries like Bloomberg! or Dollar LOOTERS), the President decided that devaluing the Naira IS NOT in the INTEREST of NIGERIANS....... majority of who dont spend Dollars!
* The President knows, l know and every "right thinking" Nigerian who is not selfish knows that further devaluing a depreciated Naiara at this point, will simply Kill the Naira..... and PMB has said: "I will not kill the Naira".
I salute PMB's courage!


* #Wailers are up in arms over this?

I am like WTF? Is the President supposed to PROTECT the INTEREST OF Bloomberg and their Dollar-looting Investors.... or the interest of the average Nigerian who is suffering the effects of mal-administration, corruption and looting of their patrimony, over the years?


All can say is this: Come Rain or Shine, If Buhari continues on this path, God spare his life, he already Got my VOTE in 2019, for a second term. kiss kiss

... even of he decamps to PDP!
grin grin


Lastpage!
Good. At least you provided the reasonswhy you don't support the devaluation of the Naira.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by cckris: 5:21am On Jan 30, 2016
Adminisher:


So you support devaluation. That is very very stupid.
Buhari is not in office because of rich people and traders . He is in office to FORCE CHANGE. NigerIa is the most blessed country on earth. Let us stop importing blindly. Let genuine , creative and resourceful people arise out of this trouble to change the way we do business. Bloomberg does not have more interest in Nigeria than us Nigerians.
ROUND TRIP means that close associates of Buhari would buy dollars at 197 naira, & resell to the black market at 305. Is this CORRUPTION what you call CHANGE? Don't worry, this satanic policy will hit everyone in three months & Buhari will be more unpopular than in 1985. All by his own doing.
Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by bashydemy(m): 5:46am On Jan 30, 2016
biafranbaby:
Our current retired dictator has once again ignored the democratic independence of the central bank of federal republic of nigeria and insisted that he is in charge of our monetary policy.

See for yourself.



http://www.bloomberg.com/news/articles/2016-01-29/buhari-blights-nigerian-central-bank-independence-to-save-naira
Wetin concern you about the Zoo? please face your biafra and how your dilector go take free from the zoo cage..

1 Like

Re: Buhari Takes Over Central Bank Naira Management - Bloomberg. by dapsonlou(m): 6:23am On Jan 30, 2016
This article is misleading. Because the President doesn't want the Naira Devalued now means he as taken over? The wailers will never cease to amaze me. That's why the only have the dumb people remaining on their side

(1) (2) (3) (4) (5) (Reply)

General Taiwo: Soldiers Went To Lekki Toll Gate With Both Live And Blank Bullets / Imo APC Ward Congress: Rochas Okorocha Releases Statement After He Was Shut Out / Peter Obi, Atiku Swimming In Wealth, Yet Nigerians Drown In Poverty - APC Group

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 94
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.