Sirjamo:
I don't know who is lying between the fg and Obaseki, but, if I am to name my top 100 people to trust in government, Obaseki will not make the list.

SHUT UP!!!

NASO B4 YOU WOULD DENY NAA USELESS GOVERNMENT

We already know that the truth is bitter in Nigeria, so we do not expect you to come out to tell us Obaseki was right.

fergie001:


The Cable

Damage control...
With this kind of finance minister what do you except...can any good thing come out of her administration....?
The worst is yet to come

yimuyimu govt.

Honestly I find it difficult to believe any nigerian politician or security agent.
I expect obaseki to respond to this by letting us know he said the truth. It's that simple.

Sirjamo:
I don't know who is lying between the fg and Obaseki, but, if I am to name my top 100 people to trust in government, Obaseki will not make the list.

Why I go believe fg for this one be say obaseki short pay local govt workers backlog salary he own them.. So na this lie he talk make dem for agree for the money dem received as salary

Dat Fulani witch.

I know she did it. Imagine printing money unnecessarily. U want to buy dose ur eight-hand trains from China, u print money. You want to steal from d budget, u print money. How will d economy not collapse?

Small time dey will blame bitcoin and importation of rice for economic meltdown. Clueless clowns.

The people calling other people Zombies are the actual Zombies themselves.

No one in his normal mind and not an illiterate will believe money to the tune of N60billion in cash could be printed to share to states.

When did FAAC start sharing cash for God's sake.

Which state government pays it's work force in cash or contractors in cash.

This can never make sense to a reasonable mind except for those people you find on the front page of this thread and the others like it.

Talklly:



Why I go believe fg for this one be say obaseki short pay local govt workers backlog salary he own them.. So na this lie he talk make dem for agree for the money dem received as salary

I thought as much

Racoon:
Guess it is the same government that said it is planning to sell national assets to fund its budget because of revenue drop? Guess it the same government that said NNPC & its moribund refineries have incurred more debt burden than profit that is talking about the same NNPC generating revenue for sharing? Continue the lying.

Racoon, use that your brain for ones. selling refineries does not mean NNPC is poor or bankrupt. NNPC is in charge of the daily sales of crude oil in Nigeria. The refineries making loss does not mean NNPC is making loss as a group. The daily sales of crude oil is a public knowledge. So get your facts right.

AkupeMBANO:

Mumu did you read the news? obaseki said 50-60billion naira to augment FAAC. in this current failed government? it's 1million% possible. your dullard darling daddy in UK is a charlatan.

you are the real dullard here and a stupid one for the matter. pray tell! how much does it cost the CBN to print 50-60 billion naira? do this research to enlighten your dull brain. Idiot. These goats think to print money na Kobo Kobo. I am not even sure Obaseki had 3rd Class. All you dullards note this. It is not a must the FG Shares allocation monthly. The FG only has obligation to share what enter the revenue purse and nothing more. That was why the FG was dolling out funds to States during the recession period which the states would pay back. So why would the FG print Money to augment allocations to states when it has no obligation to do so?

Not many governors know anything about economy and Obaseki might just be one of them. The cost of printing of 60 billion naira might even be more than or close to the value of 60 billion naira. As I said before, FG that didn't print money when crude oil was selling below 20 dollars per barrel will now be printing a paltry sum of 60 billion naira for sharing when the crude oil price is now above 60 dollars. That's laughable

Misterone:
you are the real dullard here and a stupid one for the matter. pray tell! how much does it cost the CBN to print 50-60 billion naira? do this research to enlighten your dull brain. Idiot. These goats think to print money na Kobo Kobo . I am not even sure Obaseki had 3rd Class. All you dullards note this. It is not a must the FG Shares allocation monthly. The FG only has obligation to share what enter the revenue purse and nothing more. That was why the FG was dolling out funds to States during the recession period which the states would pay back. So why would the FG print Money to augment allocations to states when it has no obligation to do so?

I told them exactly the same thing when Obaseki made the claim.

Misterone:
you are the real dullard here and a stupid one for the matter. pray tell! how much does it cost the CBN to print 50-60 billion naira? do this research to enlighten your dull brain. Idiot. These goats think to print money na Kobo Kobo. I am not even sure Obaseki had 3rd Class. All you dullards note this. It is not a must the FG Shares allocation monthly. The FG only has obligation to share what enter the revenue purse and nothing more. That was why the FG was dolling out funds to States during the recession period which the states would pay back. So why would the FG print Money to augment allocations to states when it has no obligation to do so?

I already know you are very dumb, how were you even able to type this?

AkupeMBANO:

I already know you are very dumb, how were you even able to type this?

Shu! Shu!!. Shu!!! Look at this igbo black goat. Akupemonkey. do you know the meaning of Akipe? it means slave who bleeps dogs. don't act according to that stupid name.

gaddafe:


believe any politician at your own peril. Even the politicians are surprised that we take them serious when they speak.

The two of them are very good liars. The only difference is that the FG has been caught in it's lies more than Obaseki

So las las,na FG dey lie in this case..

Misterone:
Shu! Shu!!. Shu!!! Look at this igbo black goat. Akupemonkey. do you know the meaning of Akipe? it means slave who bleeps dogs. don't act according to that stupid name.

Because it means slave that bleeps dogs in your father's language(according to u ooo),does it mean that Akupe means the same in his language??..You people will just come out on a public forum and be spewing rubbish!!Come on, go and wash your madam's undies!!..Because i know sey na slave go type this kind shit!

Who do I believe now? Why would Obaseki make this up? Can he provide proof to counter the minister?

Note - only the central bank can print money, not the Ministry of Finance.

In all honestly, I hope the story isn’t true because it is a horrific monetary policy.

Misterone:
Shu! Shu!!. Shu!!! Look at this igbo black goat. Akupemonkey. do you know the meaning of Akipe? it means slave who bleeps dogs. don't act according to that stupid name.

What are you typing?

Misterone:
you are the real dullard here and a stupid one for the matter. pray tell! how much does it cost the CBN to print 50-60 billion naira? do this research to enlighten your dull brain. Idiot. These goats think to print money na Kobo Kobo. I am not even sure Obaseki had 3rd Class. All you dullards note this. It is not a must the FG Shares allocation monthly. The FG only has obligation to share what enter the revenue purse and nothing more. That was why the FG was dolling out funds to States during the recession period which the states would pay back. So why would the FG print Money to augment allocations to states when it has no obligation to do so?

No need to abuse people to make your point
"Print" does not have to mean literally print in a digital era.

All that is required is a little mental flexibility .
Money is "shared" by electronic transfers.
Where there is no money the CBN can "create" digital money even though the FG has none

Let us not get unnecessarily stuck on the word "print" that is a metaphor

The point is that the CBN interest rate now is about 10% .

Where government is given interest free/collateral free credit whether electronically or otherwise it is the same as "printing" money

Anyway money is not only banknotes

ANY CBN ISSUED CHEQUE IS MONEY

Even commercial banks do the equivalent of "printing" money every day when they issue credit that is not backed up
That was at the heart of the 2008 financial crisis

omonnakoda:
No need to abuse people to make your point
"Print" does not have to mean literally print in a digital era.

All that is required is a little mental flexibility .
Money is "shared" by electronic transfers.
Where there is no money the CBN can "create" digital money even though the FG has none

Let us not get unnecessarily stuck on the word "print" that is a metaphor

The point is that the CBN interest rate now is about 10% .

Where government is given interest free/collateral free credit whether electronically or otherwise it is the same as "printing" money

Anyway money is not only banknotes

ANY CBN ISSUED CHEQUE IS MONEY

Even commercial banks do the equivalent of "printing" money every day when they issue credit that is not backed up
That was at the heart of the 2008 financial crisis

Where did you get this jargon you wrote here. So CBN Can just think of any amount, input it inside a computer and call it money! this is serious, CBN can as well digitalize our local debts. All they need do is send the debt figure to your account and ask the banks to pay. Rubbish. So that is how to run an economy? Stop defending rubbish. Obaseki Specifically said "print Money" not digitalize money. The States do not deal on bitcoin.

Misterone:
Where did you get this jargon you wrote here. So CBN Can just think of any amount, input it inside a computer and call it money! this is serious, CBN can as well digitalize our local debts. All they need do is send the debt figure to your account and ask the banks to pay. Rubbish. So that is how to run an economy? Stop defending rubbish. Obaseki Specifically said "print Money" not digitalize money. The States do not deal on bitcoin.

You are rude and irritable

I do not see where I defended anything unless you have comprehension problems

I am simply trying to enlighten ignorant folk LIKE YOU

I am not Obaseki's spokesman. What he specifically said is irrelevant.
I do not believe that he is telling us that he and the other governors drove back to their states with bullion vans behind them
The message is the same. He is claiming that The government is borrowing from the CBN without paying interest in the usual way. Fixating on printing or not is churlish
I will try AGAIN

All banks notes are debts or liabilities of the CBN what people know as "money" or legal tender
Any legally binding promise of the CBN is "money". If the CBN issues "money"(debt) willy nilly without assets to back them up (usually gold or foreign reserves) then value is eroded and inflation sets in as the money supply increases without corresponding economic growth
Money supply is not just bank notes in circulation
It includes things like Treasury bills or other "promissory" notes/liabilities issued by the CBN which is the usual way that government borrows and this attracts a coupon or interest rate.
The fact that these notes are "money" is evidenced by their fungibility

At the interbank level settlement does not involve the movement of bullion vans up and down. A CBN cheque or electronic credit suffices

Theoretically the CBN can "print" 1 billion naira simply by issuing a cheque for 1 billion.
or 60 billion Naira by issuing a cheque for 60 bilion.
Normally this is not how governments should borrow from the CBN . It should pay interest . If no interest is paid then the claim of "printing" money is valid.

Be humble , open your mind and learn and stop reacting like expired chemicals

omonnakoda:


You are rude and irritable

I do not see where I defended anything unless you have comprehension problems

I am simply trying to enlighten ignorant folk LIKE YOU

I am not Obaseki's spokesman. What he specifically said is irrelevant.
I do not believe that he is telling us that he and the other governors drove back to their states with bullion vans behind them
The message is the same. He is claiming that The government is borrowing from the CBN without paying interest in the usual way. Fixating on printing or not is churlish
I will try AGAIN

All banks notes are debts or liabilities of the CBN what people know as "money" or legal tender
Any legally binding promise of the CBN is "money". If the CBN issues "money"(debt) willy nilly without assets to back them up (usually gold or foreign reserves) then value is eroded and inflation sets in as the money supply increases without corresponding economic growth
Money supply is not just bank notes in circulation
It includes things like Treasury bills or other "promissory" notes/liabilities issued by the CBN which is the usual way that government borrows and this attracts a coupon or interest rate.
The fact that these notes are "money" is evidenced by their fungibility

At the interbank level settlement does not involve the movement of bullion vans up and down. A CBN cheque or electronic credit suffices

Theoretically the CBN can "print" 1 billion naira simply by issuing a cheque for 1 billion.
or 60 billion Naira by issuing a cheque for 60 bilion.
Normally this is not how governments should borrow from the CBN . It should pay interest . If no interest is paid then the claim of "printing" money is valid.

Be humble , open your mind and learn and stop reacting like expired chemicals

I will say it again, stop posting trash stop Changing the goalpost every minute. Obaseki the daft said "print " nothing more. All these long epistle of rubbish cannot explain that simple word.

Misterone:
I will say it again, stop posting trash stop Changing the goalpost every minute. Obaseki the daft said "print " nothing more. All these long epistle of rubbish cannot explain that simple word.

You can say it till you die if you like.

Words have different meanings to educated people

Did Obaseki tell you that governors drove back from Abuja with bullion vans?

"print money" is a term that is used interchangeably with "quantitative easing" by experts . Google is your friend

All this mouthing off just exposes you as ignorant
Stop abusing people and get a proper education

omonnakoda:
You can say it till you die if you like.

Words have different meanings to educated people

Did Obaseki tell you that governors drove back from Abuja with bullion vans?

"print money" is a term that is used interchangeably with "quantitative easing" . Google is your friend

All this mouthing off just exposes you as ignorant
Stop abusing people and get a proper education

you this man, stop this blind as a bat defence. you prefer to type this rubbish that has no meaning, you rant all over the net just to protect Obaseki rather than believe the simple logic of Zainab . now who is more stupid between you and Obaseki? The FG is not obligated to give states Shishi if nothing enters the revenue account. So why will FG print money or digitize money (your stupid idea) just to Please the states

Misterone:
you this man, stop this blind as a bat defence. you prefer to type this rubbish that has no meaning, you rant all over the net just to protect Obaseki rather than believe the simple logic of Zainab . now who is more stupid between you and Obaseki? The FG is not obligated to give states Shishi if nothing enters the revenue account. So why will FG print money or digitize money (your stupid idea) just to Please the states

So abusive language makes you feel you are a hard man in your mind? Anyone can call another person stupid online.
I know for a fact your father won't dare it to me in real life

I have not taken any position on whether the FG actually did or did not print money.

If you understand simple English you will comprehend that

You are right the FG is not obligated to give anything if there is no revenue(though they did in 2015 bailouts)
No where is it my idea that that has happened as Obaseki claimed
I am quite open minded on that. Read , comprehend and debate like a human being and stop gratuitously insulting people

My point is simple the phrase "print money" does not have to mean printing Naira notes. Money comes in many many forms

Misterone:
you are the real dullard here and a stupid one for the matter. pray tell! how much does it cost the CBN to print 50-60 billion naira? do this research to enlighten your dull brain. Idiot. These goats think to print money na Kobo Kobo. I am not even sure Obaseki had 3rd Class. All you dullards note this. It is not a must the FG Shares allocation monthly. The FG only has obligation to share what enter the revenue purse and nothing more. That was why the FG was dolling out funds to States during the recession period which the states would pay back. So why would the FG print Money to augment allocations to states when it has no obligation to do so?

You said it all, only senseless goons will believe this rubbish.

omonnakoda:
So abusive language makes you feel you are a hard man in your mind? Anyone can call another person stupid online.
I know for a fact your father won't dare it to me in real life

I have not taken any position on whether the FG actually did or did not print money.

If you understand simple English you will comprehend that

You are right the FG is not obligated to give anything if there is no revenue(though they did in 2015 bailouts)
No where is it my idea that that has happened as Obaseki claimed
I am quite open minded on that. Read , comprehend and debate like a human being and stop gratuitously insulting people

My point is simple the phrase "print money" does not have to mean printing Naira notes. Money comes in many many forms

Senseless assertion, just like lack of common sense comes in many forms?

Fahdiga:
We are not expecting this devilish regime to admit the truth. even the name of the government's minister of information is Lie Muhammed. we aren't suprised

if u ever believed the nonsense obaseki was saying, then I must salute your ignorance with utmost respect. Simple knowledge of basic economics and finance wouy have shown u that things do not work that way.
In saner climes, obaseki would have really disgraced his generation with that statement.
But this is Nigeria...where everyone wears their ignorance proudly

omonnakoda:
You can say it till you die if you like.

Words have different meanings to educated people

Did Obaseki tell you that governors drove back from Abuja with bullion vans?

"print money" is a term that is used interchangeably with "quantitative easing" by experts . Google is your friend

All this mouthing off just exposes you as ignorant
Stop abusing people and get a proper education

please stop disgracing ur lineage with this ignorance.

Obaseki goofed. Plain and simple.

Mind you, I dislike the finance minister and the APC govt generally. But I am an academic. I love knowledge and hate blind and misleading ignorance.