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Nairaland Forum / Nairaland / General / Politics / Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible (26465 Views)
Council Of State Asks CBN To Print More Naira Notes Or Recirculate Old Notes / Governor AbdulRazaq Donates 10-Month Salary To Fight Coronavirus In Kwara / Print More Naira Notes - Tinubu Tells FG (2) (3) (4)
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Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by leokid866: 5:31pm On Mar 29, 2020 |
GamalNasser:Do you know he owns 2% share In Intel? One of the Yoruba kings I can't remember the name now own 2% share of Rolls-Royce.....it's not about been the head of a software company or just being a politician what you do with your money matters....hope you understand.... 1 Like |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Mintek: 5:35pm On Mar 29, 2020 |
[s] Oshigun:[/s] Ogbeni, I don't care if you kill yourself @ss-licking Tinubu. My issue is your persistent pairing of his name with the word "leader". Who ordained your bullion-van criminal Yoruba leader? Is SW APC now the mouthpiece of the Yoruba nation? |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Chibezin: 5:38pm On Mar 29, 2020 |
Let us be realistic here, If you have background knowledge of Economics u we give to APC national leader I'm in the same page with Him sentiment apart.if we print more currency to pull out our economy from recession is not bad, because I know we can still mop out the currency when the need arise. I give to him. 3 Likes 1 Share |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 5:38pm On Mar 29, 2020 |
leokid866: This guys are so dumb. Part of me wants this situation to play out just so these dullard can appreciate what Tinubu is saying that some are deliberately playing politics with. Yet I know it is average Nigerians who will suffer most and begin killing each other so we just have to pray the FG listens to the likes of Tinubu and focus on innovative solutions for a very challenging period where all rules effectively go out of the window. There are some now, like hateful Igbos and the envious Afenifebi, who just automatically say opposite of what Tinubu proposes. If Jagaban says the world is round they will say it is flat just to oppose him even when they know the truth. Tiring and redundant. 1 Like 1 Share |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by leokid866: 5:41pm On Mar 29, 2020 |
NothingDoMe:Lol..... |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by NothingDoMe: 5:42pm On Mar 29, 2020 |
Oshigun:Read the response I gave to leokid. Once your currency starts to fail you have to adopt other measures. Printing it won't solve the problem. Printing it while your ECONOMY IS STAGNANT is pure INSANITY. Allow the Corona pass first. Most major companies are already shutdown except oil and gas. Primarily what we need now is food, water, and medications. Hopefully the government has been sincere about our food production in this country. Let the government pay with other forms of instruments. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 5:42pm On Mar 29, 2020 |
Mintek: Sharrap!!! Kill yourself if I call Tinubu a leader which he is. Any person who is successful or plans to be will not be automatically disdainful of wealthy people. When you people can prove Tinubu committed a crime using bullion vans to transport his own cash then we can talk. Otherwise it is clear you are just a loser and hater. 2 Likes 1 Share |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by PDJT: 5:48pm On Mar 29, 2020 |
-As expected. Oluwale economics from the druggie himself. More bullion van to your elbow! |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by leokid866: 5:50pm On Mar 29, 2020 |
Mintek:He is the Patriarch of the Yoruba people at the moment.....forgive us if you dont have one. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by abysirius(m): 5:51pm On Mar 29, 2020 |
Afenifere is just being bitter. I'm sure most of the pple writing trash here didn't even bother to read through. Even if they did, it won't matter. The suggestion is from their supposed enemy I guess. There's no doubt the idea might help cushion the effect of the pandemic on our economy if only we stay true to the main reason another embezzle. People need to learn, reason well before making comment. You shouldn't allow hatred becloud your sense of reasoning. It's a good thing if someone who believes he knows what can help us at this point as a nation comes forth and offer his advice. Not us jumping at them like a rabies infected dog trying to tear them down. Especially here on NL, all you guys are good at is to condemn, castigate, nail and abuse your leaders possibly because of some stupid tribal or political reasons. At a time like this when the whole world seems to be crumbling, every nation is looking for the antidote to the menace that has strucked and left us wounded both medically and economically. People are putting their heads together looking for solutions, but the children of perdition are here thinking like fools. BAT is not your minister of finance neither is he Ur CBN governor so if u have a trust issue u should know where to channel Ur grievances. He is a leader and he has a right to especially at a time like this to advise the pple in authority just the same way u and I can do the same. At least, he's been able to call our attention to the fact that the economy needs to be adequately monitored too. The economy is dying and needs to be checked. You all should save Ur energy and ask urself if he's the only leader in we have in this country. Why is Baba Iyabo not saying anything about the economy now?? Or FFK?? Their own area of specialization is to abuse the sitting president just like urself.. They probably don't know anything about economics ;Dsmh!! 4 Likes 2 Shares |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by WeRblessed(f): 5:55pm On Mar 29, 2020 |
Alwaysachick: That tells you the level of intelligence of people handling the affairs of Nigeria. What now happens if he becomes Nigerian president? That means when economic goes bad he would print more money instead of finding a solution. 1 Like 1 Share |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by deji17: 5:56pm On Mar 29, 2020 |
Tinubu is an accountant by Profession. The PDP - ethnic jingoist, Ifunmakin is countering what a former Mobil accountant has said. The German Finance Minister, just commited suicide due to the impending recession that will be caused by Covid-19. You look ahead, the world economy is not looking very good. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by seunmsg(m): 6:04pm On Mar 29, 2020 |
NothingDoMe: We’ve only closed our borders to human traffic. Cargoes are still very much allowed to enter the country through the air and sea ports. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Len234: 6:09pm On Mar 29, 2020 |
Problems of inflation Why is inflation such a problem? Fall in value of savings. If people have cash savings, then inflation will erode the value of your savings. £1 million marks in 1921 was a lot. But, due to inflation, two years later, your savings would have become worthless. High inflation can also reduce the incentive to save. Menu costs. If inflation is very high, then it becomes harder to make transactions. Prices frequently change. Firms have to spend more on changing price lists. In the hyperinflation of Germany, prices rose so rapidly; people used to get paid twice a day. If you didn’t buy bread straight away, it would become too expensive, and this is destabilising for the economy. Uncertainty and confusion. High inflation creates uncertainty. Periods of high inflation discourage firms from investing and can lead to lower economic growth. More on problems of inflation Printing money and national debt Governments borrow by selling government bonds/gilts to the private sector. Bonds are a form of saving. People buy government because they assume a government bond is a safe investment. However, this assumes that inflation will remain low. If governments print money to pay off the national debt, inflation could rise. This increase in inflation would reduce the value of bonds. If inflation increases, people will not want to hold bonds because their value is falling. Therefore, the government will find it difficult to sell bonds to finance the national debt. They will have to pay higher interest rates to attract investors. If the government print too much money and inflation get out of hand, investors will not trust the government and it will be hard for the government to borrow anything at all. Therefore, printing money could create more problems than it solves. See also: Printing money and national debt Hyperinflation in Germany during the 1920s inflation Inflation was so bad in Germany that money became worthless. Here a child is using money as a toy. Money was used as wallpaper and to make kites. Towards the end of 1923, so much money was needed, people had to carry it about in wheelbarrows. You hear stories of people stealing the wheelbarrow, but leaving the money. Printing more money is exactly what Weimar Germany did in 1922. To meet Allied reparations, they printed more money; this caused the hyperinflation of the 1920s. The hyperinflation led to the collapse of the economy. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by SUPERPACK: 6:11pm On Mar 29, 2020 |
Chibezin:the value of money is dependent on the amount of goods it can purchase at every given time. We are currently observing a sit at home order meaning that people are no longer working especially those that deal with agricultural products. Printing more money without having goods to be purchased with the money will only lead to increase in demand and decrease in supply which effectively renders the money useless. 1 Like |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 6:12pm On Mar 29, 2020 |
abysirius: Outstanding. Those interested in gaining knowledge and bettering themselves should read the article below dispassionately. https://www.google.com/amp/s/amp.ft.com/content/abd6bbd0-6a9f-11ea-800d-da70cff6e4d3 1 Like |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by NothingDoMe: 6:15pm On Mar 29, 2020 |
seunmsg:But of what value would our currency be to those who we are buying from? The USD is not the same as the naira. It's value nears that of a natural resource such as gold. The FG can give other things in exchange for goods and services. This method is preferable than printing notes. Nigeria is blessed with resources and I believe we can use this to survive. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by SOJOSEPH(m): 6:23pm On Mar 29, 2020 |
Printing more money simply means government would increase expenditure. This will simply lead to inflation if such more money chase few goods and services in the economy. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Blackfire(m): 6:27pm On Mar 29, 2020 |
Oshigun: Tinubu a Yoruba man spoke , Afenifere a pan Yoruba group replied him , you (a Yoruba or a Yoruba impostor) switch it around to blast the igbos who are feeding your family. Just don't die of hate 1 Like |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Bruno3000(m): 6:29pm On Mar 29, 2020 |
softwerk: |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by seunmsg(m): 6:34pm On Mar 29, 2020 |
NothingDoMe: I really don’t want to go all out arguing for printing of money. What I’ve tried to do is to explain the thinking behind the idea as best as I can. It is left for the eggheads managing the economy to decide on the way forward. People who don’t understand the serious economic problem that this Coronavirus will cause descended on Tinubu without even considering the merit of his advice. That is very wrong. At this point in time, all options should be on the table. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Mintek: 6:46pm On Mar 29, 2020 |
leokid866: |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Urhobokwaleboy(m): 6:53pm On Mar 29, 2020 |
originalomobaba: A Nigga Once Said: And after the unusual have been done to save the economy, what happens next? I guess the economy will then die an unusual death. |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Mintek: 6:55pm On Mar 29, 2020 |
Azukbobo: You lots employed this same bolded line in foisting the current grossly-incompetent and irresponsible leadership on hapless Nigerians. The same ethno-religious politics you played to install the calamitous buhari regime that has brought nothing but pains, hunger and anguish on Nigerians is what you are scheming again. Do you ever learn? |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 7:17pm On Mar 29, 2020 |
Oshigun: Being fed by your parents....sometimes makes it difficult to understand how the economy works If only you're capable of REASONING AND UNDERSTANDING ECONOMY....you wouldn't dare say HIS ADVICE IS ONLY SENSELESS TO IPOBIANS because those sentence up there only means one thing....THAT THE ONLY PEOPLE CAPABLE OF REASONING AND UNDERSTANDING ECONOMY, FEDERATION AND GROWTH ARE IPOBIANS |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 7:38pm On Mar 29, 2020 |
seunmsg: That's the crux of the matter. Read the article below to discern what much stronger economies than ours are prepared to do, mirroring what Tinubu is saying, as the next wave of actions to stem the tide of the socio-economic destruction Covid-19 is causing. Bear in mind that these are some of the strongest economies in the world already applying far-reaching and previously unseen palliative to support the wellbeing of their people. https://www.google.com/amp/s/amp.ft.com/content/abd6bbd0-6a9f-11ea-800d-da70cff6e4d3 2 Likes |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 7:42pm On Mar 29, 2020 |
ezenwajosh: Really? From all I am reading it seems you guys only wish to be contrarian for the sake of simply opposing any position Tinubu takes without inspecting it for merit. How many times will it be repeated that lockdown will cause socio-economic societal breakdown for Nigeria if 90% of her population, many without savings, suddenly have no income for 2-4 weeks? |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by VolvoS60(m): 8:03pm On Mar 29, 2020 |
Oshigun: ^^^^ You are tired and running on empty. Broken beyond repair. Your principal's hare brained and irresponsible suggestions have been met with the derision they deserve. And these suggestions were from a prepared speech! You know your principal will be damaged irreparably if he has to sell his ideas in a public debate where he has to think on his feet. It will be a bloodbath. You have your work cut out for you. Ask Sarah Palin's advisers - and you're definitely not in their league. 1 Like |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by NothingDoMe: 8:52pm On Mar 29, 2020 |
seunmsg:okay |
Re: Afenifere: Printing More Naira Notes To Fight Coronavirus Is Irresponsible by Nobody: 9:11pm On Mar 29, 2020 |
candidtalk: And how much is dollar now and how much do you think it will cost after more naira is printed? Print more naira and after this virus lock down you will be buying a loaf of bread with #7000 |
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