VeeVeeMyLuv:

Just take a Look at what u typed! All these sound excellent indeed in a serious, genuine, fiscal responsibly governed country that is ready to move forward! The prime example being China.

But in naija just forget, have u forgotten that the number one citizen went for medical attention in London for months! Why did they not patronise naija. Have u yourself seen American politicians coming here, Nigeria to acquire mansions, castles, skyscraper, hotels, business property with looted public funds? Instead these leaders u are trying to defend does exactly that in America and Europe.

Tolexander:
Let this be on record that Emefiele is the slave and tool being used by the Fulani to mute the southern voice.

Little wonder Buhari has to extend his stay as the CBN Governor to do the dirty job against his brothers.

Emefiele would think Buhari loves him so much, unlike other Igbo tribe, the very reason Buhari had to extend his stay as the CBN Governor. Not knowing that Buhari has decided to retain him to set him against his brother.

Ride on.

doxijaw:


This can't be correct.

Reverse everything you said and now we have proper economics


Simple example, i use my 50k naira to buy crypto, it shoots up 10% , i now have 55k naira, the government didn't have to print more money and there was no stress put on the dwindling factors of labour to generate this additional wealth.

Forex isn't escaping because trades are in naira, in addition it's far cheaper to use the black market for Forex transfers than to use crypto.

The only downside is fraud, fraudsters don't care about transfer costs associated with crypto so they'll use it regardless.

floss:

Emefiele is not the president of Nigeria, if he was your Dad, will you suggest to him to reject the extension and resign from the position of CBN Governor?.... just be honest with yourself, we Nigerians always think we will be different once given the opportunity always quick to criticize, condemn and abuse whereas in the actual sense will do worse once we get there....I'm not benefiting from this government in anyway but I don't condemn them because we are all the same....as long as this country is concern the only creature that can rule this country and make a change is an alien.... that's if it exists. My advice is this, let everyone stop seeking for another Nigerian to rule this country, no matter the tribe, ethnicity or religion, we are all the same and have the same fluid called corruption, nepotism and greed flowing through our veins.

Esseite:


Good point, now how do we do that, when a large volume of liquidity is plunged into crypto currencies and stagnated by people waiting for it to rise rather than real investments.. how then do we run the economy?

jamace:
Boko Haram Funding should continue because Taqiya President is achieving objective...

Esseite:


Crypto currency is a lazy investment, it is beneficial to you and myself when we make small margins, but robs of liquidity from the economy. what happens to unemployment if we all are waiting on cryptos and push every atom of funds into crypto market despite have very low export to commiserate with the forex outflow?

This is the reason countries are propping their own coins, but would we ever invest in a Nigerian coin?

wirinet:

Really investments where? Real investments in a country deliberately stifling business with multiple taxation, infrastructural strangulation and insecurity? Real investments when Herdsmen are killing farmers and destroying their farms, when even businesses on ground are folding up and running away?

Real investments when I have heen trying to register a limited liability company for over 1 month now. I have paid all fees and up till now nothing from CAC. I went to their office and only the security man who told me to call the head office. A phone line that is perpetually switched off.

If you have 100 million naira, would you rather not invest it in crypto currency or some other instruments like stocks, gold, etc that gambling it in investing in the Nigerian economy?

The government needs an economic team to chart an economic plan that would see Nigeria out of the current economic doldrums.

Esseite:


While the wait to rise 10%, has that not prevented circulation of funds in the economy? Which inturn creates inflation when everyone dumps real economic investment for small margin profit on crypto currency not domiciled in Nigeria..

If your assumption is the case, why are countries seeking to prop in their own coin?.. eg India.

freemanq:
so dis is all politically motivated?

FrLukas:


I'm just serving you the dish you deserve. If your conscience is clear say an amen and waka pass.

Obviously you can't since you know that your posts here are borne out of wickedness.

helinues:


Let me finish learning on how to give a spoon first before giving a fork

doxijaw:


Is there any business/investment that doesn't take time to return profits?

Using demand and supply, how does investing in an asset create inflation when there's less fiat floating around?

The assumption that everyone will dump the real economy is subjective, some people use the trading profits to start businesses.

I wonder why crypto trading isn't affecting productivity rate in western countries, but developing countries like India and Nigeria deem it threatening.

Like I said, the only meaningful argument that makes sense is fraud and terrorism prevention.

Xeedee:


This is another real perspective that the commons Nigeria man won't reason. We should all learn to think beyond our sentimental reasoning and think about saving the future economy

MASTAkiLLAh:
use your brain properly sir

shogz89:
I will think about my future first before thinking about Nigeria future.. If I leave a million naira in my bank account, the future of that money may likely be 200k.. So I have to secure it in a more stable currency be it crypto or USD. Let the government think about the future by reducing corruption, building infrastructures and creating enabling environment that attract FDI. banning cryptos instead of thinking on how to get the best from its usage shows a lot about the dummies we have up there.. CBN can't stop the trading BTW.. Their are different ways to avoid the restrictions.

Gokoyer0:
The fund will reach 28000 pounds very soon. I don donate my own. Let them come and beat me. Awon oloriburuku gbogbo.

We can't make a trip of less than 2 hours in peace anymore.

Esseite:
Crypto currency is a death nail on import dominated countries. there is no balance of trade or how that can be regulated. Do you think the loans gotten from china is not a means of balancing trade due to our large imports?..

how do you balance the escape of forex through cryptos for an import dominated country especially for non physical services/goods?

- It undermines monetary policies of various Government..
- There are no checks and balances.
- Any dick and harry can prop up a coin.
- it discourages foreign investors from investing physically in developing nations.

Best initiative from CBN on saving the naira.

Esseite:


This is because they are export oriented nations, they would only adjust their exports of produce alongside bitcoin fx escape. This may not be same for US, because bitcoin is domiciled in US economy. That is why other nations that cant balance that propose their own coins.

Inflation would come when massive funds are plunged into cryptos while the native Govt has to print or create liquidity to oil its economy which in ture creates inflation or devalues the naira.

Tolexander:
And where did you read that only ndigbo are Emefiele’s brothers?

TheGiftedOne:



The most brain dead Zombie[i][/i] on NL. Fill in the gap my people .

Vardanes2:


Esseite is not pro APC . Read his previous posts.

His argument makes economic sense.

shogz89:
I will think about my future first before thinking about Nigeria future.. If I leave a million naira in my bank account, the future of that money may likely be 200k.. So I have to secure it in a more stable currency be it crypto or USD. Let the government think about the future by reducing corruption, building infrastructures and creating enabling environment that attract FDI. banning cryptos instead of thinking on how to get the best from its usage shows a lot about the dummies we have up there.. CBN can't stop the trading BTW.. Their are different ways to avoid the restrictions.

Tolexander:
Let this be on record that Emefiele is the slave and tool being used by the Fulani to mute the southern voice.

Little wonder Buhari has to extend his stay as the CBN Governor to do the dirty job against his brothers.

Emefiele would think Buhari loves him so much, unlike other Igbo tribe, the very reason Buhari had to extend his stay as the CBN Governor. Not knowing that Buhari has decided to retain him to set him against his brother.

Ride on.

Esseite:
Crypto currency is a death nail on import dominated countries. there is no balance of trade or how that can be regulated. Do you think the loans gotten from china is not a means of balancing trade due to our large imports?..

how do you balance the escape of forex through cryptos for an import dominated country especially for non physical services/goods?

- It undermines monetary policies of various Government..
- There are no checks and balances.
- Any dick and harry can prop up a coin.
- it discourages foreign investors from investing physically in developing nations.

Best initiative from CBN on saving the naira.