Jamesbally:
Emefele is a Biafran, the worst and most clueless CBN Governor Nigeria ever had. Buhari should sack him ASAP.

Why do you hate ibos so much?

Tingotoe:
Why do you hate ibos so much?

Nna, hapum aka.

I'm Igbo from Aba.

It is rather disingenuous for the CBN governor to compare his action (money printing) with what obtains in the US and Europe (quantitative easing).

QE entails the Central Bank “creating money” and then buying assets eg corporate bonds with it. Thereby injecting liquidity into the system. The process could also be reversed at the appropriate time, what the Central Bank would do is SELL the assets and in the process mop up liquidity from the system.

Our dear CBN simply went ahead to print billions of naira to “support” the government.

His statement about securitizing the “loan/cash” handed to government was only an afterthought.

It’s not a surprise, as this CBN is well known for making up policy as they go.

usj:
Why is the federal Government not saying the truth, are they trying to turn Nigeria to Zimbabwe?

Central Bank of Nigeria (@cenbank) Tweeted:
The concept of printing of money is about lending money and that is our job...It will be irresponsible for the CBN or any Central Bank or Fed to stand idle and refuse to support its government at a time like this. #Emefiele https://twitter.com/cenbank/status/1382991152291397632?s=20

Pathetic.

Amaechi2023:
truth is many graduate of finance and economist don't really understand the financial system..
the economic explanation of finance is not a practical reality.
inflation is the constant increase in price of goods and services, but here in Nigeria inflation only happens when the naira looses its value to dollar.
Most people claiming printing of currency would trigger inflation are only doing so because their textbook told them so.
they've all lost the ability to think and innovate ways out of trouble.
today in Nigeria goods and services are being supplied in excess but no money to purchase those services.
people are filled with ideas to help the country but lack the resources to do so.
people are willing to work for lesser salaries but their organization that are producing are not generating enough income to even pay lesser salaries.
money should be relatively scarce not hyper scarce.
I encourage the govt to print as much money as possible to match the current inflation rate in the economy so people can be paid higher salaries and afford commodities being sold.

Hey, are you good, well and sound? I asked to know because your suggestion is ridiculous.

usj:
Why is the federal Government not saying the truth, are they trying to turn Nigeria to Zimbabwe?

Central Bank of Nigeria (@cenbank) Tweeted:
The concept of printing of money is about lending money and that is our job...It will be irresponsible for the CBN or any Central Bank or Fed to stand idle and refuse to support its government at a time like this. #Emefiele https://twitter.com/cenbank/status/1382991152291397632?s=20

I had to visit CBN Twitter handle to be sure CBN and Emeifele actually posted this information.

I just had to conclude that Obaseki was right and if FGN in collaboration with CBN did that covert and illegal printing of money, they must have been doing several printing of money for diverse use.

I am terribly ashamed of CBN and it's management.

There was indeed a country - Nigeria.

Jamesbally:


Nna, hapum aka.

I'm Igbo from Aba.

No you're a northerner just like me

SolexOlenin:


Pathetic.

so pathetic, few months ago while buying some goods from China, after all necessary discussions with the supplier. I checked online for naira to dollar rate (360 per dollar then) only for me to go to the Aboki at the BDC office I was told it's now 480 I was so shocked. Few week later I went back and he told me it has gone to 485 per dollar. I kept asking why not knowing that those lazy people are busy devaluing our currency with bad policies.

Tingotoe:
No you're a northerner just like me

I'm never like you

Babanah:
It is rather disingenuous for the CBN governor to compare his action (money printing) with what obtains in the US and Europe (quantitative easing).

QE entails the Central Bank “creating money” and then buying assets eg corporate bonds with it. Thereby injecting liquidity into the system. The process could also be reversed at the appropriate time, what the Central Bank would do is SELL the assets and in the process mop up liquidity from the system.

Our dear CBN simply went ahead to print billions of naira to “support” the government.

His statement about securitizing the “loan/cash” handed to government was only an afterthought.

It’s not a surprise, as this CBN is well known for making up policy as they go.

The fed are independent, the US president can not interfere in their activities unlike what we have in Nigeria. Before Buhari leaves office I hope people would not start eating each to survive.

I'm just here watching armchair economist going off because of something they have read but don't fully understand......how is the tweet related to print I Nguyen of money......or all you online PhD economics holders think it's only by printing money that the CBN supports a government?

Obaseki that started this should please come out and tell us how much he collected out of the money after all according to him it was to support states, or maybe tell us states that benefitted so we have clearer picture.....if he cannot do that let him keep quite.....