Roland17:
EFCC don start to press Bello neck. Make we see where dis one go lead to.

BlueRayDick:


I'm not sure they successfully arrested him o. I saw on IG videos of the current governor arriving at Bello's residence with his own security and thugs to prevent Bello's arrest by EFCC.

Itsrm:


They cleared the final 1.5bn in March and also received 1.5bn from FPIs. Where did 2.1bn go?

Roland17:


Shey na the Governors dem wan hand over State Police to be dis abi? EFCC secured an arrest warrant against Bello, so what is the issue here?

OasisX:



......Itsrm-sama. I told you to wait till next MPC press briefing for your worries, guess what?! Cardoso said no need to wait that long. LOL!

Cc User09.



https://twitter.com/orekelewa_etc/status/1780677656972833168?t=f7LsnumtcFZFcVuutudQtQ&s=19

larride:


FPI do not go into the foreign reserves, does it?

CBN has not hidden any of their moves, when they are selling $ to BDC at the lowest previous day rate, they publish a circular to that effect.

March is the end of the 1st quarter, no one is privy to the debt obligations due in Q1 2024 or forward contracts that has to be settled.

Itsrm:


Lol, he actually just confirmed they are defending the currency and hopes they won't need to in the future.

LordAdam16:


Don't mind these folks.
I'm truly taken aback by the fierce partisanship introduced into the economic space.

Dude kept talking about intentions.
Tell us what you are doing, you're yapping about intentions and future.

You're not using the reserves to defend the naira but you went to the US to beg for 600m to add to the reserves "between yesterday and today".
Yesterday's total volume in the NAFEM is less than 250m. Today is less than 200m.
So how are you able to add $600m in two days. Or is there a shadow market besides the official NAFEM window?

He should tell us what foreign debt Buhari and Tinubu took last year to drive up our debt service payments that'd make us expend 2B in less than a month.

We all know what they're doing, but they've sworn not to be truthful.

-Lord

Itsrm:


Lol, he actually just confirmed they are defending the currency and hopes they won't need to in the future.

Itsrm:


Lol, he actually just confirmed they are defending the currency and hopes they won't need to in the future.

OasisX:




.....Itsrm-sama, did you actually watch it at all?! He clearly mentioned debt settlements as part of reasons for the depletion. Only intervention that has to do with Naira is his dealings with BDCs.

Well, expect to see plus $600m to current foreign reserve. LOL!

Itsrm:


What debt settlement?

If he's lying about using 2.1bn to settle debts, what's to say he's not lying about BDCs being his only intervention.

User09:


No he didn't

Please watch it again. Infact from the 3:52 minute, he explicitly said " The shift in the reserves has nothing to do with defending the Naira"

What else do you want him to say again. Perhaps he talked about intention which signals to me that they aren't at the moment but may have to if it calls for it

But he was very clear that the intention is a liquid transparent and a willing buyer and seller market determining the price

OasisX:




.....where is your evidence that he is telling lies?! Lord said he has hurriedly borrowed $600m to boost the foreign reserve and you believe?! LOL!

Itsrm:


The evidence is in the video

Itsrm:


Lol, here's your bias coming into play.

Watch it again. This was what he said. "The shift in the reserves has little or nothing to do with defending the naira"

How else do you expect him to spell it out ?

Infact, the overall tone is about what he hopes to achieve and not what is currently happening.

User09:


Can anyone else translate the bolded?

Or am I reading something else. At the end of the day, we all see what we want to see.

But I'll tell you one thing, thinking the CBN governor will tell actual lies to defend something that is already it's core mandate is next level propaganda.

The guy knows speculators are like hawks watching the market. Any unbiased person knows what he's saying but again I'll leave you to your convictions

User09:


Can anyone else translate the bolded?

Or am I reading something else. At the end of the day, we all see what we want to see.

But I'll tell you one thing, thinking the CBN governor will tell actual lies to defend something that is already it's core mandate is next level propaganda.

The guy knows speculators are like hawks watching the market. Any unbiased person knows what he's saying but again I'll leave you to your convictions

YoshihideSuga:


Thank you for your explanation regarding land mass and specific local government areas. I appreciate. I'm curious at the bold, Akwa Ibom State University has her both campuses there.

With the expansion so far, wouldn't it be affected by urbanisation?

What about Onna? My hunch is any local government that hosts a tertiary institution, especially federal and state, would witness massive urbanisation and commercialisation.

So, this should include Ikot Abasi which is closer to Mkpat Enin.

Also, where exactly are BUA refinery and the fertiliser manufacturing facility by the Moroccan firm situated?

OasisX:




.....where is your evidence that he is telling lies?! Lord said he has hurriedly borrowed $600m to boost the foreign reserve and you believe?! LOL!