teepain:



If the Naira had been floated without CBN interventions for years now, the $1 would have been exchanging for more than #2000. The reasons are not far fetched, consumer driven and low-productive economy relying solely on the sale of crude oil. That is a recipe for economic disaster.

That's what they should focus on working on...improving the economy in terms of local production. All these policies are lazy man's way of seeking solution. It never works

Blueivyp:


Nah lie.

If naira is floated with preferential treatment. Dollar will fall.

Why should we have BDC in the first place when there is bank?

Why should there be two exchange rate? That is the highest corruption.

You buy cheap here and sell higher over there.

I do not support 2 exchange rates (i.e different official and black market rates). I prefer that it should be floated, but once that is done Nigerians will see that the Naira had always been over valued. From our consumption and production comparison, I believe that Naira is over valued.

Although, I believe that the Naira losing more of its value if it is floated might be a blessing in disguise as it may reduce the appetite of Nigerians for imported stuffs.

premierlead:
“Do you know that up till now, and this is November, up till now, Daddy (God) hasn’t told me yet that there is going to be an election next year? - Adeboye

Who is his daddy here when his apparatuses are all in the present government? One of his pastors is deputising this lifeless guy now in power. Adeboye benefited and is still benefitting in Buhari's administration no doubt about that. The body peeing old guy's wife, Remi Tinubu is a senator of the federal republic of Nigeria she is a pastor in the church which he (Adeboye) presides over

This man, Adeboye in connivance with thiefnu.bu also lent hand in bringing in this dictator that is happening to Nigeria today

And some foolish idiot liked ur sensless post

asuraking:
God please let election hold and let peter obi win.Amen

Yes... ptheif Obituary will become the president of Ipob...Insha Allahu

BennyDGreat:


That's what they should focus on working on...improving the economy in terms of local production. All these policies are lazy man's way of seeking solution. It never works

I completely agree with your submission on what government needs to do. Additionally, Nigerians too would have to tone down their appetite for imported stuffs.

With dye respect, Adeboye sounds like an illiterate when it comes to monetary policies and basic economics.

The redesign of the naira will drastically reduce the demand for foreign currencies in the black market. The demand for foreign currency is very high because the thieves that have stashed billions of naira inside their homes and anywhere except the banks have been rushing to the black market to convert the loot to dollars.

The redesign will checkmate this stress on the naira. The redesign should reduce the demand for the dollar in the black market with a positive effect on the black market exchange rate.

Note that the official exchange rate has been stable and if you have a legitimate business reason, you can purchase the dollar for example, for N438 or so.

If we want to make the dollar stronger, we should reduce our imports and focus on exports, among other things. This has nothing to do with the redesign of the naira.

Adeboye should spend more energy and Redeem's money to help lift the poor out of poverty than on criticizing a great move by the government.

P.S. the dollar will be worth N1,000 soon with or without redesign of the naira. We need to deal with the root cause of the fall of the naira.

Angelfrost:


Well said... I have been saying this for years.

Nigeria is dangerously dependent on importations with nothing commensurate in exports to balance the economy.

Poor leadership is a terrible thing to see.

You are spot on, we cannot to continually have trade of balance deficits and expect some magic.

Cmanforall:
Let him share the ones he has

Baba don store billions inside him room

asuraking:
God please let election hold and let peter obi win.Amen

Amen!!!!!!!!!. Nigeria need urgent resuscitation

Pwettylinda:
Thiefnubuu should be taken to the high sea and thrown in for sharks to feed on.

No pitty for looter

It will be justify if only u can add ur father to join him in the ocean... Omo irankiran

teepain:


I do not support 2 exchange rates (i.e different official and black market rates). I prefer that it should be floated, but once that is done Nigerians will see that the Naira had always been over valued. From our consumption and production comparison, I believe that Naira is over valued.

Although, I believe that the Naira losing more of its value if it is floated might be a blessing in disguise as it may reduce the appetite of Nigerians for imported stuffs.

Naira is not over valued. All these value attached to production and consumption is layman economic.

Saudi Arabia is oil based with little production yet their money is stronger than USD. Why is it so?

LightnFavor:



Who will come to my rescue? I never envisage to find myself in this kind of condition before but as it stand it i am in the middle of nowhere. I am a single Mom and I have been abandoned by my Baby Daddy for another lady. All my efforts to get his family to cooperate in raising the only child between us and being responsible all proved futile including paying for the room and parlor self contain we occupy. My rent expired October 31, and the agent has been on my neck to renew my tenancy ever since. I have only been able to personally raise half of the sum which is 60,000. I have made efforts in getting all the sum but it's been one setback and another. Please help me I'm frustrated and upset with everything.

I would have helped you, but you women are very heartless, and what happened to you serves you right.
A man will assist a single mum, only for her to start maltreating the man's kids, and making life miserable for the man cos of her b...stard kid.
A good man will be dying to have your attention, but they prefer giving it to yahoo and confra boys wey go dump them with kid later
Come make i hit your under well and give you peanut since una no dey get sense.

MonkeyMods:
This man should please concentrate on his tithes and seed money


He helped Tinubu bring calamity to Nigeria and now...



He's pretending to be touched by the woes Nigerians are suffering

where u there when pastor was helping him ?? And oga face front and leave tithe alone. Go n open church n collect your own. Nonsense!!

OHHHHHHHH SORRY YOU NIGERIAN'S LOOK AT THIS MAN OF GOD WITH THEIR MENTALITY ____ THIS ARE THE CRIMINALS WHO LIVE LARGE ON NIGERIA HARD-EARNED

dazzlingd:
What does this con artist know about economy, he should better go and sit down and do what he knows how to do best which is to scam his sheeples. Oponu foolish old scammer

phoneport:

Source: https://pmnewsnigeria.com/2022/11/05/pastor-adeboye-tackles-fg-over-plan-to-redesign-naira/

Pastor Ade, do you have stashed Notes somewhere ni?

Yes the Naira is worthless presently. A deeper look shows that majority of Nigeria Elites contributed to that. This they would deny. With their lewd livings, always clamouring for everything foreign while forever downgrading everything and anything from home.

If Bubu like, let him redesign the Naira a hundred times before he leaves, I don't care.

And if you keep your money/monies where it is supposed to be kept, you won't be wailing about and redesign.

Am waiting for phcn to bring light, I spent all my salary yesterday, food I no buy, wetin concern.

Glare247:

And some foolish idiot liked ur sensless post

Sir with due respect, you are supposed to dispute my comment up there and not attack the writer here, doing what you have done really mean you are not ready to use your freewill, you still want to enslave your mind and subject yourself to a slog under the self called minister of God...just continue, and I pray that may Nigeria under Buhari (APC) really happen to you.

Glare247 claim it and say Amin loruko Jesu

asuraking:
God please let election hold and let peter obi win.Amen

God will never grant your second request.

Blueivyp:


Naira is not over valued. All these value attached to production and consumption is layman economic.

Saudi Arabia is oil based with little production yet their money is stronger than USD. Why is it so?

With a population that is approximately 1/6th of Nigeria's population coupled with their vibrant chemical industry, do you have an idea, how much money Saudi makes from Religious Tourism? For context, they are projected to make about 350 billion dollars from that industry by 2030.

When Peter Obi becomes the president in 2023, there will be more agricultural produce.

These crops will be exported to other countries and sold for Dollars

Naira will rise again, take heart.

Vote Peter Obi 2023.

nduchucks:
With dye respect, Adeboye sounds like an illiterate when it comes to monetary policies and basic economics.

The redesign of the naira will drastically reduce the demand for foreign currencies in the black market. The demand for foreign currency is very high because the thieves that have stashed billions of naira inside their homes and anywhere except the banks have been rushing to the black market to convert the loot to dollars.

The redesign will checkmate this stress on the naira. The redesign should reduce the demand for the dollar in the black market with a positive effect on the black market exchange rate.

Note that the official exchange rate has been stable and if you have a legitimate business reason, you can purchase the dollar for example, for N438 or so.

If we want to make the dollar stronger, we should reduce our imports and focus on exports, among other things. This has nothing to do with the redesign of the naira.

Adeboye should spend more energy and Redeem's money to help lift the poor out of poverty than on criticizing a great move by the government.

P.S. the dollar will be worth N1,000 soon with or without redesign of the naira. We need to deal with the root cause of the fall of the naira.

So the thieves that stole the first time would repent because they print new currency, as if you are not in Nigeria, people would do everything to beat the system, if they decide to pay the loans their state have collected with the stash, do you think the banks wouldn't go to retrieve the loot, and they are many financial mechanism they can use to get the money back into the system without blinking an eye. What we are saying is that the timing is wrong. I use to have great respect for Wharton's graduate especially my friend, but Gov Emefiele has make me to only respect my friend and ignore his degree.
Theoretically he might think he is right,but Nigeria is full of surprises and na ordinary Nigerians go suffer.

asuraking:
God please let election hold and let peter obi win.Amen

Amen!!

MonkeyMods:
This man should please concentrate on his tithes and seed money


He helped Tinubu bring calamity to Nigeria and now...



He's pretending to be touched by the woes Nigerians are suffering

He is a citizen like you and have right to talk just like you. Childish comments

asanausana91:
God will never grant your second request.

you are not God.

karnafiu03:
Lol.....Baba don think of how to change billion of naira cash they av collected as offering.

So the church doesn't have bank accounts anymore?

Omo, the way some of you reason ehn...ba ankali

MrBroke:
Pastor nigga mind your business or you gat cash stashed too??

Ounranu

Men of God and money

Pells:
It will spoil your plans of the old offering notes stored in your house abi

Ounranu

God bless Buhari for this. I will see how Tinubu want to do with the hidden money in his mansion. Tinubu crumbs eaters are in pain.
Buhari always know how to treat their fck up.

Anyone who criticize this move is a criminal that is hoarding tons of illegal naira notes. This move by the Federal is surprising and unexpected because I expect it will be likened to stabbing themselves in the foot.