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Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo - Politics (2) - Nairaland

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Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Myer(m): 9:42pm On Oct 27, 2022
Racoon:
What a clueless, inept and incompetent government with misplaced priorities.

As long as we keep importing Dollars /Pounds/Euro and not exporting Naira, we are part of the problem of Nigeria.
Because the Naira will keep on devaluing and plummeting against these currencies.

But I can't blame anyone when our own leaders are spearheading this. If the leaders do the right thing, we will not just be consuming nation but also producing nation. And then we will have much to export both in the real sector and monetary sector.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Benwallt(m): 9:48pm On Oct 27, 2022
Aggressive spending by who? Should have said aggressive stealing and looting
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Kutunban: 9:50pm On Oct 27, 2022
Kaduna train negotiation

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Nobody: 9:53pm On Oct 27, 2022
rearranging the deck chairs while the titanic is sinking will not save it. keep chasing shadows

2 Likes

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by darediamond(m): 9:54pm On Oct 27, 2022
DirtyGold:
The story above is not my business.

All I know is that I need a million billion dollars urgently right now! cool cool cool ...any ideas?

What's tha business?
May God Bless You For This Eye-opening Question Which I Will Reply To As : Borderless Currencies Arbitrage Or Exchange.

But it is not a Business but rather A WAR EVERY NIGERIAN YOUTH FROM THE S.W, S.E and S. S must start Rigth now.

What you will be doing is to Take Naira in whatever amount you can afford out of Nigeria to Neighboring African countries like Cameroon if you are from the East and South South and or Benin Republic if you are from Southwest. But you can use others as Buffer too. Now on getting to your prefered west African country, change the naira to local currency as in Naira to Cefa, then from Cefa to Dollars using Mobile Wallet or Traditional Bank.

United Bank Of Africa and Eco Bank Of Nigeria are nearly in all West African and East African Nations.

You can simply as well deposit Naira in your Nigeria domiciled bank account and use your Atm card to withdraw AT THE BORDER, in local currency thereby buying the foreign currency at BANK RATES.

For further clarifications 0seven060five seven 8569 is available to you.

3 Likes

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Nobody: 9:58pm On Oct 27, 2022
Unrealistic implications


Rubbish as usual
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by NuruDiddy: 10:00pm On Oct 27, 2022
Racoon:
What a clueless, inept and incompetent government with misplaced priorities.

Cos it will effect your bullion van
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Hemaah: 10:07pm On Oct 27, 2022
Chai !!!


Tinubu don suffer for this people hand ✋ so because of the money piled up at burdillon for election na him make una come out with this .....isokay

Time will tell

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Curious345: 10:08pm On Oct 27, 2022
seunlayi:
We are watching

When the subsidy is removed all hell.will be let loose .

But I support its removal
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by benqo01(m): 10:12pm On Oct 27, 2022
Emefiele under this APC govt is something else
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by ezugegere(m): 10:16pm On Oct 27, 2022
It is one of the ways to fight terrorism and banditry as well as kidnappings for ransom.
The criminals will now have to bring out all the cash they have stacked in their hideouts, houses, and even in our neighbouring countries like Niger and Chad. �

2 Likes

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Infinixhot2: 10:22pm On Oct 27, 2022
Is it Shortage of Naira Or Shortage Of Dollar$ that is causing inflation?

funny people...

The bad people hoarding could buy Multi million value gold,then sell after new notes They could change it to any easy to sell asset.

This people are clueless
Unless this move make it harder to print Naira note at Home then its a waste.

Yes, Evil People in this country print Naira note at home. So if this new not cannot put it to stop then sorry.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Okhuadams(m): 10:34pm On Oct 27, 2022
Racoon:
Aggressive spending, worsening FX crisis’ - how CBN’s naira redesign will affect economy

https://www.thecable.ng/money-supply-naira-value-how-cbns-naira-redesign-will-affect-nigerias-economy/amp
That means our incoming President. The EMI LO KAN 1 of Nigeria will officially lunch the notes.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Ttalk: 10:35pm On Oct 27, 2022
ezugegere:
It is one of the ways to fight terrorism and banditry as well as kidnappings for ransom.
The criminals will now have to bring out all the cash they have stacked in their hideouts, houses, and even in our neighbouring countries like Niger and Chad. �

How will they bring it out when the money has already be changed to other currencies
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by coputa(m): 10:49pm On Oct 27, 2022
Ttalk:


How will they bring it out when the money has already be changed to other currencies
What they meant by money outside CBN control is that some hooligans are printing the country's currency, which makes it difficult for the central bank to regulate it, right now, there's excess liquidity which is one the major causes of the ongoing inflation.This will help the government to know the actual money in circulation and also regulate it.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by tymicjay77: 10:49pm On Oct 27, 2022
And one yeye presidential candidates was advising one dumbass to print more naira note back then..... Who even know maybe it was because of the excess naira printing that raise the inflation rate up.... Very greedy sets of clown, they will only make policies that favor their selfish interest.

1 Like 1 Share

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by HeroicMeastro: 10:51pm On Oct 27, 2022
grandstar:
The economy is finished.

The biggest problem facing the Naira now is the dramatically fall of the Naira. This redesign nonsense does not solve it in any way. As the report said, it might even compound the situation

This will also benefit the opposition especially Atiku as the Hausa Fulani are probably the highest stackers of notes. Changing the notes may infuriate them. Anyway, that's my theory and it's not proven but Atiku can use it to his advantage.
Are you in your senses?
Is your brain functioning at all?

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by HeroicMeastro: 10:52pm On Oct 27, 2022
Brendaniel:
That's why we need a competent leader as president, a president who is not greedy and ready to serve...

Vote Wisely
Mazi Peter Obituary right?

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Brendaniel: 10:54pm On Oct 27, 2022
HeroicMeastro:

Mazi Peter Obituary right?

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by pinkasso: 11:06pm On Oct 27, 2022
It will further exacerbate the problem by forcing people to spend their money or pay it into the bank within a short period of time this will further lead to inflation (short term) and possible devaluation as people will want to hold their Naira in foreign currency...they have made a huge miscalculation as there is an over-supply of currency in circulation but the big question is where is the money...your guess is as good as mine...
grandstar:
The economy is finished.

The biggest problem facing the Naira now is the dramatically fall of the Naira. This redesign nonsense does not solve it in any way. As the report said, it might even compound the situation

This will also benefit the opposition especially Atiku as the Hausa Fulani are probably the highest stackers of notes. Changing the notes may infuriate them. Anyway, that's my theory and it's not proven but Atiku can use it to his advantage.

1 Like 1 Share

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by coputa(m): 11:09pm On Oct 27, 2022
Myer:


As long as we keep importing Dollars /Pounds/Euro and not exporting Naira, we are part of the problem of Nigeria.
Because the Naira will keep on devaluing and plummeting against these currencies.

But I can't blame anyone when our own leaders are spearheading this. If the leaders do the right thing, we will not just be consuming nation but also producing nation. And then we will have much to export both in the real sector and monetary sector.
The African continent/Nigeria only export raw materials to industrialized nations,where they turn/convert them to finished products by adding value and send them back to Nigeria to sell at a much higher price.The white industrialized nations of the world do not want the African continent/Nigeria to be industrialized,so that Africa will continue to be backward economically.Imagine, Nigeria as one one the highest crude oil producers in the world, with four refineries,that are not working.African nations will continue to crawl, until they put their act right.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Poleski: 11:10pm On Oct 27, 2022
Last public fund looting by the corrupt and incompetent APC Buhari government. Buhari is a massive failure.
If you still vote for APC after all these, then you are absolutely insane.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by grandstar(m): 11:33pm On Oct 27, 2022
HeroicMeastro:

Are you in your senses?
Is your brain functioning at all?

You have said absolutely nothing
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by GRACEGLORY: 11:42pm On Oct 27, 2022
Racoon:
Aggressive spending, worsening FX crisis’ - how CBN’s naira redesign will affect economy

https://www.thecable.ng/money-supply-naira-value-how-cbns-naira-redesign-will-affect-nigerias-economy/amp



Bullshit! Mr. Governor got it wrong again
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Panda7(m): 11:43pm On Oct 27, 2022
good thing, an opportunity to raise our currency value and economic.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Ventura1: 11:50pm On Oct 27, 2022
Only a fool will collect N20m cash for any transaction this season, especially if you don't have records of such lodgement. You could be questioned.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by sisisioge: 11:59pm On Oct 27, 2022
Nigeria has been terribly unlucky with leadership....see our lives o! It is well.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Bigchristo: 12:58am On Oct 28, 2022
Winning123:
Yeye economist. Theoretical economist. Always analysing one way. What about the impact on security, those bandits, kidnappers and terrorist holding large swatch of money
You sense nor Dey waiting you talk, do you think there’s no terrorist in other countries? Why didn’t the government of those countries start redesigning their currency? This kind of your shallow mentality has brought the country to a state of collapse, the terrorist will equally dispose their cash before the period of time which the new notes will be in circulation your suggestion nor add any sense, a wise person should be looking at strengthening the currency value in foreign exchange market not inflating more hardship on the economy if they tell you how much this project will cause CBN you will be amazed all this inside the already dying economy
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Masterchef(m): 2:09am On Oct 28, 2022
Emefiele, Emefiele, Emefiele!!!!
How many times we wan call you...

Instead of spending N50b to print say N1b, plus the strain it'll further put on the Naira, why not just invest N36b as counterpart funding in heath, agriculture, manufacturing etc. accross the 36 states; thinking of counterpart funding so you start creating employment and producing some of the things Nigeria imports?
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by lexy2014: 2:10am On Oct 28, 2022
Dreamsworld:

Perhaps they have other reasons why they want to do it that they don't want to disclose

Cluelessness
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by lexy2014: 2:11am On Oct 28, 2022
Ventura1:
Only a fool will collect N20m cash for any transaction this season, especially if you don't have records of such lodgement. You could be questioned.

Where did emefiele say anything about that?

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