GeneralDae:

Good idea but then Governors would have to be monitored to convert all the dollars at the Banks and CBN and not ship them away.

Also this decision is in order to reduce money supply and inflation in the economy.

They would never have the dollars. It would be in electronic form and can only be sold in exchange for Naira to take care of expenses. My system isn't perfect but something like that.

Henry Boyo suggested Dollar certificates be used.

Henry Boyo condemned the present Naira substitution policy

He said disbursing the Naira equivalent of the Dollar component always leads to excess liquidity in the system and its then mopped up with costly bonds. That's why the commercial banks lending rates are high.

He proposed rather than pay them in Naira, pay it with Dollar certificates instead. When exchanged for Naira, these will boost the Naira and the opposite of excess liquidity would be achieved.

Once liquidity is tight, the CBN can loosen it by bringing down interest rates which will spur spending, borrowing and investments.

EcoBrick:


https://thewhistler.ng/exclusive-state-governors-endorse-fgs-proposal-to-share-only-n900bn-from-n1-9trn-faac-revenue/

Now sense his coming.

RenaissanceGuy:
They can only share naira. The amount of dollar saved will still not be higher.

Which one be dollar again,okpo

Are you American

LagosFirstSon:
Let's just pretend that they're telling us the truth even when we know that a drug baron is the president

May the thought of Tinubu being in Aso Rock give you a Heart Attack that will put you in a wheelchair for then next 4 years..

Kitikpa dorwarkwa otu nne gi ebe ahu..

Adaka!

MykellOni:
Attendance: Present ✔️
Lwkmd! Am I the only one seeing this? The money they are sharing is generated from where? Taxes you and I are paying directly and indirectly, from phone calls to bank transfers, to utility bills, to subscriptions, transportation and others... Lol! So as we dey suffer dey pay this monie with hunger wey dey the land naso them dey sit down dey share am... Am I getting this wrong? Someone should pls enlighten me... Chai! E no go better for these ppl family and generations to come. Yepa! Indeed the poor will keep getting poorer while the rich will keep getting richer in Nigeria.

Yes...

You as a person will keep getting poorer..

Not because of any other thing BUT...

YOUR MENTALITY!!!!!

As a man thinketh.....................

Muhylonaire007:
Something wey one person go syphon into another akant

Share share share... The only thing they know how to do.
Looting, sharing, lying, that's their mantra. Bunch of failures

You need help...intellectually..

mrvitalis:
Which kind cock and bull story be this

Firstly governors and president do not and can't even decide how much to share even if they want to.... There is no such provision under our law

APC propaganda that we were to share 1.9 trillion was about to be bursted they now brought out this new propaganda


There was no 1.9 trillion anywhere... No where

You are a foolish foooool...

mrvitalis:
I repeat this is a big lie and it's impossible
APC lies have caught up with them now they want a new propaganda

This one pain obidients chai.. They no like that saving they heard.. In their use less brain only obi should have done that... Chai thank God i am not an obidient ooo.. This guys are just like borderliners under BAT regime.. They can commit suicide at any point in time oooo.. As BAT unleashes his policies...

mrvitalis:
Which kind cock and bull story be this

Firstly governors and president do not and can't even decide how much to share even if they want to.... There is no such provision under our law

APC propaganda that we were to share 1.9 trillion was about to be bursted they now brought out this new propaganda


There was no 1.9 trillion anywhere... No where

you get it man ...that amount is just fallacy to deceive nigerians...propaganda might b d end of dis country

longetivity:
Oil dey there head temporarily

Why you didn't pray make the Oil permanent? 🤣🤣🤣🤣🤣

This govt is having sense.


This is what I proposed in another thread where I stated that money raised from both floating the naira and removal of subsidy be used as an avenue to mop up excess liquidity.

At this rate, over #5 Trillion can be mopped out of circulation from the existing #22T Emefile printed from thin air

The naira will regain value and stabilize to 350-400 and fuel price will drop to roughly same value. With more local production, fuel price may further drop to less than #300 . Continue this further into next year and we could see our reserves lift to over $50bn thereby putting less pressure on the FX market.


Kudos to Tinubu for having the balls to do the right thing.

mrvitalis:

Which governor said it? Oga no body made any 1.9 trillion

The signs are there. Are you denying the N400 billion per month saving from subsidy or the N5.5 trillion record half year revenue made by FIRS? If you adjust exchange rate from N450 to N800 to the dollar, shouldn't you expect your Naira receipt to double even if dollar revenue remains the same? You can argue that in dollar terms, not a lot has increased but we spend Naira and that has doubled which allows local payments such as salaries, pensions etc to be made and even service or repay local debts. Inflation is of course the danger here but careful injection as they plan to do will mitigate to an extent.

lol
The only idea is share

EcoBrick:


https://thewhistler.ng/exclusive-state-governors-endorse-fgs-proposal-to-share-only-n900bn-from-n1-9trn-faac-revenue/

FG did nothing extraordinary in generating 1.9tr majorly from subsidy removal. Repeating that it is the highest revenue generated since Adam is just attempting to play with our sensibilities.

“ The revenue of N1.9trn is the highest amount generated in one month in the history of Nigeria…”.

Nigeria na wah. Propaganda will not let us have peace of mind.

RenaissanceGuy:
They can only share naira. The amount of dollar saved will still not be higher.

It's clear they don't have any clue about what they are.doing lol

They are just trying to increase the pool of national revenue so there's more for them to steal...and we all wonder why naira keeps falling against the dollar; of course it will fall when each of them takes their stolen naira to fx market so they can change to dollar and buy london mansion, private jet, etc.The pressure on naira just keeps increasing

All based on trust. The governors trust Tinubu so far. They didn't trust GEJ the thrift spender that year. Tinubu has saved 1trillion or more in one month. How many million did Obi lamba claim to save on beer in 8 years again? First class brain no be chinko bangladeshi product.

mrvitalis:

FAAC statement money sharing is not hard federation account is open to all

What do you mean by FAAC statement? Give me example of this official FAAC statement you saw for May and how it differs from the reports we are seeing for June.

When an accountant is the President, you will see financial discipline and fiscal policies.

In just one no, Emilokan Tinubu the Chicago State University multiple award winning graduate, and ExxonMobil former Chief Accountant/Auditor tripled what the country had been generating monthly over the years.

But, he still refused to share and spend all. Less than 50% is to be shared.

LagosFirstSon:
Let's just pretend that they're telling us the truth even when we know that a drug baron is the president

Nobody in your generation will ever be near the President

May this favour me en my family Ameen

MykellOni:
Attendance: Present ✔️
Lwkmd! Am I the only one seeing this? The money they are sharing is generated from where? Taxes you and I are paying directly and indirectly, from phone calls to bank transfers, to utility bills, to subscriptions, transportation and others... Lol! So as we dey suffer dey pay this monie with hunger wey dey the land naso them dey sit down dey share am... Am I getting this wrong? Someone should pls enlighten me... Chai! E no go better for these ppl family and generations to come. Yepa! Indeed the poor will keep getting poorer while the rich will keep getting richer in Nigeria.

Cry, weep, wail. You cannot do more than that. If you are not mentally unstable then you will not say the money is generated from taxes and ignore the fact that oil revenue is a major contributor.

MOHSHESHI:
May this favour me en my family Ameen

Amin l’oruko Jesus

SCAM 101. Nigerian should be very careful in believing this APC. The truth remains that the allocation was N900bn but they inflated it to on paper to decieve Nigerian. This is for your informat8in

E go still loss finish..... Format to loot am go still show. Time plenty

It is a good idea. But all eyes must be wide open to ensure CBN/FG didn't divert it later to shore up their personal pickets...

slowice:
E go still loss finish..... Format to loot am go still show. Time plenty

You can say that again