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Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free - Business (6) - Nairaland

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Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane / Naira Fair Value Should Settle Between ₦‎640-₦‎680/$ – Bismarch Rewane / Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation (2) (3) (4)

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Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by caye(m): 5:08am On Aug 10, 2022
Elsueno:
shocked

Just look at the evil looking grin on his face

All these brainwashed WEF, IMF & world Bank paper economist who only do analysis from d perspective of thier western overloads would sink 2geda with them.....Imagine under valuing ur own country just so u can look good to d imperialist money printing U.S.A.

Bismarck Rewane has always being pessimistic about Nigerias economic outlook

IN UNDERSTANDING THE CALAMITY THAT HAS BEFALLEN THE BLACK RACE, VIZ A VIZ OUR PREY-CANNIBALISTIC RELATIONSHIP WITH THE WHITE MAN AND THE ARAB ( not excluding the Chinese), it would be a great reward to study the psychological state of the House niggar, who ( for personal and useless power, money and position) , sells his brothers and sisters to the strangers.

1 Like

Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by TheGoodJoe(m): 5:10am On Aug 10, 2022
wowcatty:
You can't be talking about Tinubu.

You are just talking nonsense that has nothing to do with Tinubu. Tinubu ran Lagos without allocation money and came out on top. Other governors that got allocation for their empty state couldn't do anything with it.

We support Tinubu because his track records in governance is the best to ever come out of Nigeria

No matter the rant, you can not change that Tinubu thinks earning in naira shields you from the harsh effects of the rising exchange rate.

That shows he has no understanding of elementary school economics.

1 Like

Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by lagosrd: 5:21am On Aug 10, 2022
Mayflowa:


Hahaha

Guyman, Leventis is still in Nigeria. This is their website:

https://agleventis.com/

LEVENTIS will still convert our naira to dollars and carry it to their country. We need businesses that will be bringing dollars from other country or exporting goods!

What is leventis selling now that will make them cart away your dollars like your politicians and all una hausa bureau de change with dollars in the circulation unaccounted for that whose value is being determined by greed and wickedness. They even pitch their tent near the seat of power.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by lexy2014: 5:34am On Aug 10, 2022
wowcatty:
You can't be talking about Tinubu.

You are just talking nonsense that has nothing to do with Tinubu. Tinubu ran Lagos without allocation money and came out on top. Other governors that got allocation for their empty state couldn't do anything with it.

We support Tinubu because his track records in governance is the best to ever come out of Nigeria

What is Tinubus track record and how is it the best to ever come out of Nigeria since 1960? Can you pls do a comparative analysis of Tinubu and all governors since 1960 to buttress your point?

When did Tinubu run Lagos without allocation?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by lexy2014: 5:37am On Aug 10, 2022
Dami12345:

Tinubu is already the next president.
He has already won.
It doesn't matter whether they are Obidient
or Obituary.
Let them rant, it's just a few months.
Till then let's all try and keep Nigerian Safe
and Try as much to mitigate the damage of
the current situation in Nigeria.
We need an economist in the presidential
house. In order for Nigeria to Florish we
need Peace, and in order for Trade and
Economyy to Florish we need Peace.
There are just too many advantages
of having him in office. He is the
only Viable candidate.

How is Tinubu the only viable candidate?

How is Tinubu the next president of Nigeria? Which has he already won?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by ehinmowo: 5:37am On Aug 10, 2022
Obidient4life3:
Thunder fire you Abeg

Typical Nigerian. A country of emotional olodo.

This person you insulting has over 25 years experience in finance and politics. Instead of you insulting your useless leaders u are insulting him.

Either you like ot or not, Naira is on perpetual slippery fall. Make una keep voting for these useless people

1 Like

Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by lexy2014: 5:39am On Aug 10, 2022
CocoaOla:
Currency is over valued or Nigeria is an unproductive country to bring in more forex

Intend of loKing for solution they confusing the problem with useless grammer satanic beings

Is the currency not overvalued as he said? Is that not the reality?

What solution should he be looking for?

What makes you think that nigeria isn't productive and that forex isn't coming in?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by JuanDeDios: 6:03am On Aug 10, 2022
okeysoninv:
That means naira should be exchanging to #1200 officially to dollar
No.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by MrBONE2(m): 7:06am On Aug 10, 2022
okeysoninv:
That means naira should be exchanging to #1200 officially to dollar

Wrong Bwana grin
It means Naira to be exchanged Technically above #1200 against Rand and Dollar grin
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by sao09: 7:25am On Aug 10, 2022
This man called Rewane is a problem in this country, he talks finance like as if he truly knows what he saying anything election is near he will go around RV station and newspaper talking and writing rubbish by the time Cbn does the evil he is saying, the man will be no where to be found. He just seeks attention he was part of those that told Cbn to float naira in 2015 2016 the beginning of the free fall of the naira. He has come again talking nonsense.
They should just shut him up.

1 Like

Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Nobody: 7:54am On Aug 10, 2022
And this fool calls himself an economist? He wants the naira devalued so that he can make more profit, period.
Economic saboteurs!
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Nobody: 7:55am On Aug 10, 2022
sao09:
This man called Rewane is a problem in this country, he talks finance like as if he truly knows what he saying anything election is near he will go around RV station and newspaper talking and writing rubbish by the time Cbn does the evil he is saying, the man will be no where to be found. He just seeks attention he was part of those that told Cbn to float naira in 2015 2016 the beginning of the free fall of the naira. He has come again talking nonsense.
They should just shut him up.

He is a disgrace to his father Alfred.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Billygee2u: 9:10am On Aug 10, 2022
orisa37:
1970 THERE WERE KINGWAYS, CHELLARAMS, LEVENTIS ETCETERA ETCETERA ALL OVER NIGERIA AND THEN IT WAS ONE NAIRA TO TWO DOLLARS.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Grandemperor(m): 9:17am On Aug 10, 2022
hisgrace090:
Emefiele gangs on the loose again looking for more ways to inflict pain on us.

Buhari have distinction in hiring tormentors.
,,,,,,,,,
In 2014, President Dr Goodluck Ebele Azikiwe Jonathan appointed Mr Godwin Emefiele from Zenith Bank as the CBN Governor.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Elsueno: 11:02am On Aug 10, 2022
staga:


Nigerians do not like those who tell them the hard truth. What brings in foreign exchange to Nigeria? Ghana alone as more than 500,000 Nigerian students. Do people come to Nigeria for education, or medical tourism or holiday tourism, things that bring in money for countries with no oil or mineral resources? Do you manufacture anything consumed globally?

Japan has no drop of oil, but their products are consumed globally. Israel's arms sales is more than $5bn in revenue, and yes, their famous rifles are used by our DSS and special forces.

We just consume from other nations and need dollars to pay for this consumption. How will the Naira not fall at the expense of the other currencies?

Then as "experts" u guys are, u should encourage national development, industrialization & attracting foreign investment s & how to make Nigeria an export dependent country since we have the resources & manpower. But all u guys do is come on TV & social media to claim naira needs to be devalued 4 some currency abroad which everybody is trying to ditch it except western vassals.....This devaluation & free importation crap started since western SAP under IBB..We are still devaluing following western advice, DO WE HAVE TO SWITCH TO FOREIGN CURRENCY LIKE ZIMBABWE B4 u guys feel better?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by shortIGBOman: 11:13am On Aug 10, 2022
holywind:

He's from Delta north (IKA) and they never agreed that they are Igbos, so he is my brother by state and not Igbo


Na lie. Emefele na IGBO man in and out.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Vitally123: 2:05pm On Aug 10, 2022
It's Now they Know, after all the damage done. Just to Justify their unprofessional policies. Time will tell.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by t2luv1: 2:47pm On Aug 10, 2022
seunaj:
May God deliver us from Buharinomics and Emefielenomics

How? To understand Nigeria problem take a look at who your Finance Minister is while at it look at your NNPC board and CBN. Two days ago your President signed off on SEPLAT acquiring all of EXXON Mobil Nigeria Oil operations. That is the News that people need to know but guess what nothing from the News media in that Country. I predict in 2yrs your Naira will be exchanging for N1200 to the dollar. That Country in domed
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by Panda7(m): 3:01pm On Aug 10, 2022
NwaNimo1:


https://www.ripplesnigeria.com/expert-claims-naira-overvalued-by-200-begs-cbn-to-set-currency-free/
while natural resources like aluminum, limestone, coal, iron ore, silica, oxides, sand, tar lay wasted in abundance the present day government keeps borrowing and inflating the currency. which day will this government resigns and give leadership mantle to the brilliant youths to show what they research and was thought in school??
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by orisa37: 3:05pm On Aug 10, 2022
LEVENTIS bring goods and directors to NIGERIA, buy our Lands, build their Shops and Residences, with their money in Naira after selling their goods. They take Chieftaincy Titles and mix freely with us when we care. They only go to our CENTRAL BANK to get Forex when they want to visit other Countries on Holidays. Without a force, they employ NIGERIANS locally as workforce, managers and directors, all from their businesses in NIGERIA which they brought in with their own money.

My friend, NIGERIA has been SPOILT since AZIKWE AWOLOWO AND AHMADU BELLO DIED. The Military has been bastardizing this Country with reckless abandon and This one who promised to make NIGERIA UNGOVERNABLE AFTER HIM IS A NIGERIENS. ABACHA WAS FROM CHAD SHAGARI HINTED.

LET US THEREFORE TELL BUHARI TO RESIGN NOW TO REDEEM THE CHANCES OF THE HAUSA FULANI IN NIGERIA OR BE IMPEACHED.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by IbeOkehie: 5:48pm On Aug 10, 2022
degamonn:
We shouldn't not be angry with this man if you understand the working of the economy.
The man never said the Naira should be devalue beyond the N600+ whatever range at the black market but the N430 official value.
The question is this, How many of you who reacted to this post access FOREX at N430 official window? Only a special group of people which are a small percentage of the total number of people looking for FOREX get at the rate. so, it is a policy which creates special privilege for few people to the detriment of the majority.

Thank you. The vast majority of Nigerians, including the university graduates, don't understand or refuse to understand the realities of economics. It's really sad that they support such government policies. They think pegging the naira is good when the destructive results are evident for every logical person to see.

God help Nigeria because the people aren't doing it, for sure.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by sisisioge: 10:15pm On Aug 10, 2022
May God punish all the people ruining this country....imagine 3million naira being less than 4.5k USD. It is well!
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by wowcatty: 4:43am On Aug 11, 2022
You must be on some chemicals if you are not new here or not blind or deaf.

Search for Tinubu's achievements or create a new topic for people to comment on his achievements there. Don't forget to have the name of the best governor you know for comparison.
lexy2014:


What is Tinubus track record and how is it the best to ever come out of Nigeria since 1960? Can you pls do a comparative analysis of Tinubu and all governors since 1960 to buttress your point?

When did Tinubu run Lagos without allocation?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by wowcatty: 4:46am On Aug 11, 2022
Tinubu is right but since nothing works in Nigeria, that's not his problem.
TheGoodJoe:


No matter the rant, you can not change that Tinubu thinks earning in naira shields you from the harsh effects of the rising exchange rate.

That shows he has no understanding of elementary school economics.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by lexy2014: 4:47am On Aug 11, 2022
wowcatty:
You must be on some chemicals if you are not new here or not blind or deaf.

Search for Tinubu's achievements or create a new topic for people to comment on his achievements there. Don't forget to have the name of the best governor you know for comparison.

Since you aren't on some chemicals and you are not new here or not blind or deaf, I am deeply surprised that you can't answer the simple questions.

What is Tinubus track record and how is it the best to ever come out of Nigeria since 1960? Can you pls do a comparative analysis of Tinubu and all governors since 1960 to buttress your point?

When did Tinubu run Lagos without allocation?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by wowcatty: 5:13am On Aug 11, 2022
You sound bugheto, abi your burger friends dey oppress you with dollars when around ni? What's with the obsession with dollar? If 250 million population of Nigeria produces nothing to bring in dollars, then this is the price you have to pay for that.

It's dream world for you because you have defeatist life. It's reality, if you work in Nigeria and get paid naira, dollar shouldn't be your problem.

I didn't read your comment past a line, at.

Buy Nigeria, live the local life. Ofada is much healthier than imported parboiled, white or brown rice. Most of you have no business living in the cities, move back to your villages or close, grow your own food and raise chikens or any animals of your choice. Think outside the box.
TheGoodJoe:


Stop living in a dream world like Tinubu. Until we fix things and get our local production working, you can not be talking of paying in naira not being affected by exchange rate.

That is the reason why supporting Tinubu shows that you people are just being unrealistic.

You are not facing the problem and talking in naira when the exchange rate is running riot.

Please, you are not talking to blockheads. You are talking to people with a sound understanding of the situation of things in the country.

Until we change our status from a consumption nation to a productive nation, the exchange rate will have a drastic effect on the income of local salary earners.

It will take some time to become productive, and even that will help improve the exchange rate.

So please, Tinubu has no idea of what he is talking about. So, you can support his ignorance, but stop thinking you are making sense to learned people.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by wowcatty: 5:23am On Aug 11, 2022
Since you are too lazy to find it a topic that has been flogged to death here, there's nothing I can do for you. I don't run errands for chumps. You are probably a bot or something.

Tinubu was governor from 1999 to 2007 and didn't receive a kobo of allocation. He was able to run Lagos and turned it to the Lagos we have today. Why your governor received allocation for empty state and still failed.

Tinubu remains the best governor to come out of Nigeria, nothing can change that.
lexy2014:


Since you aren't on some chemicals and you are not new here or not blind or deaf, I am deeply surprised that you can't answer the simple questions.

What is Tinubus track record and how is it the best to ever come out of Nigeria since 1960? Can you pls do a comparative analysis of Tinubu and all governors since 1960 to buttress your point?

When did Tinubu run Lagos without allocation?
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by lexy2014: 5:31am On Aug 11, 2022
wowcatty:
Since you are too lazy to find it a topic that has been flogged to death here, there's nothing I can do for you. I don't run errands for chumps. You are probably a bot or something.

Tinubu was governor from 1999 to 2007 and didn't receive a kobo of allocation. He was able to run Lagos and turned it to the Lagos we have today. Why your governor received allocation for empty state and still failed.

Tinubu remains the best governor to come out of Nigeria, nothing can change that.

Since you aren't, why are you having challenges answering the simple questions?

What is Tinubus track record and how is it the best to ever come out of Nigeria since 1960? Can you pls do a comparative analysis of Tinubu and all governors since 1960 to buttress your point?

When did Tinubu run Lagos without allocation?

Are you sure Tinubu didn't receive a single Kobo of allocation from FG between 1999 and 2007? grin grin

How did Tinubu turn Lagos into what it is today? Was Lagos a desert and wasteland before Tinubu became governor?

Who is my "governor that received allocation for empty state and still failed"?

1 Like

Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by TheGoodJoe(m): 7:07am On Aug 11, 2022
wowcatty:
You sound bugheto, abi your burger friends dey oppress you with dollars when around ni? What's with the obsession with dollar? If 250 million population of Nigeria produces nothing to bring in dollars, then this is the price you have to pay for that.

It's dream world for you because you have defeatist life. It's reality, if you work in Nigeria and get paid naira, dollar shouldn't be your problem.

I didn't read your comment past a line, at.

Buy Nigeria, live the local life. Ofada is much healthier than imported parboiled, white or brown rice. Most of you have no business living in the cities, move back to your villages or close, grow your own food and raise chikens or any animals of your choice. Think outside the box.


Abuses do not help the fact that Tinubu and you do not understand basic economics.

To have Ofada rice needs processing. It requires materials to run the mills. It is not hoe and cutlass they use to process Ofada rice.

Even the hoe and cutlass are imported. So they become more expensive.

The cost of materials for running the mills goes up. The fuel (petrol/diesel) goes up. So even after processing, it cost more to even transport the goods out of it.

This means the salary ends will end up purchasing less.

You can see how ignorant Tinubu's statement is. Yet, you want such an ignorant person as your President.

God forbid BAT thing.
Re: Bismarck Rewane Claims Naira Overvalued By 200%, Begs CBN To Set Currency Free by TheGoodJoe(m): 7:12am On Aug 11, 2022
wowcatty:
Since you are too lazy to find it a topic that has been flogged to death here, there's nothing I can do for you. I don't run errands for chumps. You are probably a bot or something.

Tinubu was governor from 1999 to 2007 and didn't receive a kobo of allocation. He was able to run Lagos and turned it to the Lagos we have today. Why your governor received allocation for empty state and still failed.

Tinubu remains the best governor to come out of Nigeria, nothing can change that.
CONCLUSION

The federal government only withheld the Local government fund of Lagos from 2004. The Federation Account allocates revenue to each federating unit, including states and local government areas, hence, Lagos as a state would not have been denied. If it was, it would have been included in the legal dispute. Also, the LG fund withheld in 2004, was eventually released to the state. but, the Tinubu administration received all its allocations from 1999 when he became governor, till he left office in 2007. His claim that he received “zero allocation” is false.

https://www.ripplesnigeria.com/fact-check-did-tinubu-receive-zero-allocation-as-governor/

God forbid BAT lie.

cc: lexy2014

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