Ngozi Okonjo Iweala Speaks:
I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies about the past government ruining everything. It's also myopic to think that if Jonathan were to still be in power, we would be worse off.
The truth about Nigeria's recession is this; it was caused by the president's unguided rhetoric and uncultured body language.
Firstly, there is nothing we are buying today that we weren't buying 5 years ago, therefore it's not our purchase that put pressure on Naira but withdrawal of funds by foreign investors.
After the election, the president created instability with his unguided statements about how everyone is corrupt and how everyone is going to jail. The instability made foreign investors to liquidate their investment and change their money to dollars.
In the process of trying to flee, they were willing to buy dollars at any price, which lead to high exchange dollar rate.
Even though some of them were not ready to run away, but want their money in dollars to save their investments from devaluation, the president gave a bad signal by banning deposit of foreign currency into dormiciliary accounts. That was enough for free market believers to see the draconian handwriting on the wall, that was the beginning of dollar rush.
To make matters worse, the president came up with another outrageous policy of rationing dollar to certain sectors and blocking many sectors out. That was the nail in the coffin which facilitated the emergence of free FALL.
In the end, foreign investors took over $80B out of the economy within a short period and everything went down to free fall.
To those who believe it will be worse if Jonathan is still there, you are all wrong. Policy continuity and political stability will not let billions of dollars leave our shores within such tiny time frame. Even though the government might have income shortage, the private sector will weather the storm by their confidence in the market.
The fear of the unknown created by PMB is responsible for the economic downturn not low oil price. Interest rate in America is currently at 0.5% while it is 12% in Nigeria. JP Morgan Chase will not mind borrowing $50 billion from Feds at 0.5 and put in Nigeria for return of %2000 profit. Citi bank will do the same, likewise US Bank Corp. Chase gave Buhari warning about the repercussions of his fixing policy before they pulled out, but his illiterate cyber warriors and misseducated e-soldiers said JPMORGAN can go to hell, they no longer believe in economic metrics since their messiah is in charge.
Funny enough they are all suffering today because of the bad policy, but they find relief by blaming it on past administration and Gucci appetite of average Nigerians. For your information, if your president "continues" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking.
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Zombies will think otherwise

No 35 iweka economist

She ruined our economy

Thank God for Kemi

She's doing well even at 45 dollars per barrel

Lady Ngozi failed God and humanity

obamartins:
Zombies will think otherwise

Sarcasm shay ?

Lady Ngozi failed her father land

She's a disaster

She ruined our economy

Can you imagine her paying billions to looters on just

Mere plain and tissue paper ?

Kai NGO you failed humanity

We know the truth Aunty NG
The zombies are even thinning down...

I remember how we as board executives couldn't predict the direction the President was going for months , we couldn't make a decision on which sector of the economy to invest in or which product to trade in for months . We almost guessed our way into trouble as all the options taken gave only false hope.
Then he arrived and had jokes as ministers. Nigerians get it right by next election.

Osun state , after all was done to you still chose the party that messed them up, it shows we are not learning

sarrki:
No 35 iweka economist

She ruined our economy

Thank God for Kemi

She's doing well even at 45 dollars per barrel

Lady Ngozi failed God and humanity

http://biafrandailynews.com/lifestyle/former-finance-minister-ngozi-okonjo-iweala-speaks/

1. ^^^^^^^ The above link is the source and the ipob OP left it out for a reason.


2. The same rubbish was passed around the internet back in 2016 and was credited to Oby Ezekwesili back then.

3. The Vanguard fell for the scam and published the rubbish, but it was withdrawn and they apologized after Oby Ezekwesili denied authoring that trash and also threatened to sue the Vanguard.

Apology to Oby Ezekwesili

https://www.vanguardngr.com/2016/09/apology-oby-ezekwesili/

4. The Tribune also fell for the ipob scam before withdrawing that publication and eventually apologized for publishing the rubbish.

5. Igbos are now re-circulating the same scam rubbish, but since Oby Ezekwesili has threatened to sue, they moved the source and author to Okonjo Iweala.


All in all, this is the same 2016 fake and fraudulent fabrication with a new author Igbos are recircling to fool their own roadside miscreants...


Don't fall for it...

I hope they delete this rubbish ASAP

sarrki:
No 35 iweka economist
She ruined our economy
Thank God for Kemi
She's doing well even at 45 dollars per barrel
Lady Ngozi failed God and humanity

You can imagine a kettle calling a pot black.
A full time failure talking sh!t.

Apc has failed from the onset. There is no need for u explaining ma'am. How can a president condemn his own people, he called us all corrupt and made himself a saint. Today our economy is nothing to write home about. no job, no new industries throughout his 3yrs in office. Wat is my prestige of been a graduate, when I can't get a job with my certificate because the APC led federal government said they have provided more blue collar jobs than white collar job.

This woman is long distance smarter than Aunty Kemi Adeosun, na English she dey take impress Buhari.

Sarrki, you Deserve the award of the IFUOT OF NAIRALAND.......

sarrki sarki sarrki... aw many times I call u asslicker? pls tell me...wen u go ever get sense? "wipes"

sarrki sarki sarrki... aw many times I call u asslicker? pls tell me...wen u go ever get sense? "weeps"

8. Don't post false information on Nairaland