mariahAngel:
Buhari and all his appointees are all flops of the century!

Emefiele was an appointee of the previouus administration

Nothing concern me and the topic above

I just wanna ask, does nairaland have an app.
If it doesn't, then the owner of this site no try ooo

Even if it doesn't, nairaland website should be design deliciously. It looks crude.
Reddit is just like nairaland, bit it looks better

Funny government

Numismatic:
Na Hausa get parallel market, so he must not go against the wishes of his masters..

What is Parallel Market?

in summary now @jphilip dollars is not coming down soon and CBN would have to accept the official rate of 480 naira to a dollar instead of their useless parallel rates.


I honestly don't get the usefulness of the parallel rate, cos we almost never get dollars at this rate, not even from banks.

tstx:
Worst CBN governor in Nigeria's history


...

More than worst. Making life hell for anyone doing business with Naija. Useless man. The ppl he is serving will go unblemished. But I doubt he will.

They are confused and clearly overwhelmed.

Hmmm

In simple terms for people that don't like big finance grammar, invest in dollar denominated securities if you can. The naira is on a shameful ride down. When CBN was injecting dollars any how, everyone knew it won't be sustainable forever. Let's see how long they can keep deceiving themselves.

Invest in dollars FAM.

GreaterFuture:

What is Parallel Market?

Black market

GreaterFuture:

What is Parallel Market?

Aboki market

How do people argue in this country.

Someone wrote he his worst CBN governor ever.

What is your reason.

For all i know, the man can not perform magic for a country that relies on oil for foreign exchange.

Over 70% of people don't produce anything.

The country does not export.

I taya for this country matter!

RaphaellaDD:
In simple terms for people that don't like big finance grammar, invest in dollar denominated securities if you can. The naira is on a shameful ride down. When CBN was injecting dollars any how, everyone knew it won't be sustainable forever. Let's see how long they can keep deceiving themselves.

Invest in dollars FAM.

My dear in mist country the forex is managed somehow. Not even Saudi or Dubai operates a free float.

The problem we have is we want to fight exchange rate and interest rate at the same. That defies economic laws. The shortest way out is to raise interest rates.

When an Igbo man is in charge

PhiliptheArab:


In farness to Emefiele, he does not control the amount of dollars entering Nigeria.

Since 2014, we have been suffering from low oil prices. Oil has been below $80 PER barrel, and is now at 40 per barrel. Meanwhile the price at which we need oil to be to earn enough for a surplus budget is $139 since 2017.

Also, the government has not dealt with corruption, refuses to fully deregulate,, and has no answer to the securty challenges in the country...which all drive away investtors.

There is only so much the CBN governor can do.

oil was selling for 15 dollars per barrel during obasanjo regime so stop using oil as reason for buhari failure. I agreed with you that isn't Cbn governor fault but that of buhari and his gang that lack economics direction.

The little fx we have, some people with direct access to dollars are doing round-tripping. That's why the parallel market rate will remain so high compared to the official rate . Those BDCs which are mostly operated by politicians are complicit.

Watched him on TV yesterday during their MPC briefing, the man is out of touch and delusional.

PhiliptheArab:


In farness to Emefiele, he does not control the amount of dollars entering Nigeria.

Since 2014, we have been suffering from low oil prices. Oil has been below $80 PER barrel, and is now at 40 per barrel. Meanwhile the price at which we need oil to be to earn enough for a surplus budget is $139 since 2017.

Also, the government has not dealt with corruption, refuses to fully deregulate,, and has no answer to the securty challenges in the country...which all drive away investtors.

There is only so much the CBN governor can do.

Rubbish excuse.

Check my signature for something nice

Saao:
oil was selling for 15 dollars per barrel during obasanjo regime so stop using oil as reason for buhari failure. I agreed with you that isn't Cbn governor fault but that of buhari and his gang that lack economics direction.

1.You did not read the second part of my post...you know where i blast the government for not fighting corruption, etc...

2.Oil ranged between 19 dollars and 60 dollars under Obasanjo, and the economy was a bit bad during his first term. Also, our forex needs were not as much as they are now.

3.Saying Nigeria's ecnomic failure is due to the falling oil price is also a criticism of the government....the government should have simply woken up to that fact and done something about it

udemzyudex:


Rubbish excuse.

Good evening. Do have a good day.

Oga calm down,
We are talking about people that still talk about 18th century grazing routes in 2020

The dollars going to Niger Republic is still there,
Fix refineries una no greee

See his foolish tribesmen making senseless n retarded excuse for this gross failure.

Which among all the factors was not lacking when aboki Sanusi or even Emefiele did wonders with the CBN ?

The thing is foolish soul like yours expose the hypocrisy of tribe daily for the world to see out of bigotry n cluelessness. Emefiele is a failure as CBN governor n will forever be, there is no other truth that that simple.

PhiliptheArab:


In farness to Emefiele, he does not control the amount of dollars entering Nigeria.

Since 2014, we have been suffering from low oil prices. Oil has been below $80 PER barrel, and is now at 40 per barrel. Meanwhile the price at which we need oil to be to earn enough for a surplus budget is $139 since 2017.

Also, the government has not dealt with corruption, refuses to fully deregulate,, and has no answer to the securty challenges in the country...which all drive away investtors.

There is only so much the CBN governor can do.

Front0lane:
See his foolish tribesmen making senseless n retarded excuse for this gross failure.

Thanks for the kindf and gracious verbage to my person. Much obliged.

Which among all the factors was not lacking when aboki Sanusi or even Emefiele did wonders with the CBN ?

Higher oil prices. Between 2009-14, oil was between $91 and 130.From 2014 april, oil started falling. And by extension, our income from oil fell, and by extension our economy.

Which is why I don't like this APC government...they claimed to be dffiversifying in response to the problem. Buhari should have hit the ground running by ending wasteful subsides, focusing more on security, and really fighting corruption,...but they practice the same old oil dependency.

SLS was just riding on high dollars. He wasn't that spectacular...same for Emefiele. But a CBN governor does not write economic policy...see Minister Farouk.(who you should be blasting)

if the oil price goes up today, I won't be rejoicing.

The thing is foolish soul like yours expose the hypocrisy of tribe daily for the world to see out of bigotry n cluelessness. Emefiele is a failure as CBN governor n will forever be, there is no other truth that that simple.

Whoever Emefiele is or not, it does not do anything for my life. I doubt anyone would recaall him in a hundered years.



NIGERIA must get off its dependency on oil. APC is doing nothing about it, and it is sad. Blame them, not some CBN governor whose hands are tied by the limited dollars flowing in.

We need to get off oil.

WalkerMichael:
story.. soft reminder dollar -naira already retail for 485/$ saibaba

Not Ipob Emefiele?

udemzyudex:


Rubbish excuse.

na like this you dey for real life? I've been noticing your replies here a d you sound so "harsh".

PhiliptheArab:


In farness to Emefiele, he does not control the amount of dollars entering Nigeria.

Since 2014, we have been suffering from low oil prices. Oil has been below $80 PER barrel, and is now at 40 per barrel. Meanwhile the price at which we need oil to be to earn enough for a surplus budget is $139 since 2017.

Also, the government has not dealt with corruption, refuses to fully deregulate,, and has no answer to the securty challenges in the country...which all drive away investtors.

There is only so much the CBN governor can do.

Modified

Yes, Nigeria is dependent on oil, yes, when oil falls, our economy crashes, when oil shoots up our economy rises. We were there in 1973-82, when oil rose, 1982-2003 when oil was low, and 2003-2014 when oil rose.

Blaming our current economic collapse on the collapse on the price of oil, is a direct criticism of the government's failure to diversify the economy. If you don't get that, sorry.

Spot on !

OROSUNBOLB:


Spot on !

Thank you

PhiliptheArab:


Thanks for the kindf and gracious verbage to my person. Much obliged.



Higher oil prices. Between 2009-14, oil was between $91 and 130.From 2014 april, oil started falling. And by extension, our income from oil fell, and by extension our economy.

Which is why I don't like this APC government...they claimed to be dffiversifying...but they practice the same old oil dependency.

SLS was just riding on high dollars. He wasn't that spectacular...same for Emefiele. But a CBN governor does not write economic policy...see Minister Farouk.(who you should be blasting)

if the oil price goes up today, I won't be rejoicing.



Whoever Emefiele is or not, it does not do anything for my life. I doubt anyone would recaall him in a hundered years.



NIGERIA must get off its dependency on oil. APC is doing nothing about it, and it is sad. Blame them, not some CBN governor whose hands are tied by the limited dollars flowing in.

Tell your Governor & docile people to stop running to Abuja every month to collect sustainability money from the FG, why can’t your state produce the commodity that will break our dependence on oil, instead of just wailing with no solution & blaming others as if you are not part of the problem? What comparative advantaged commodity does your state export for foreign exchange in adding value to our Foreign reserves?