Chibuzoripob:
President Tinubu is 💪 working. Eluuupes are bleating
We nor go give UP on u sir
All will be well.

You registered this account June 29, 2023, and since then you've made +348 comments.

I don't know if you have a task master that pays you to push this vile propaganda that you plaster all over here, or you are just projecting your own internal inferiority complex & self hate.

Mark my words.
This hate that you carry for a people, whose God is bigger than that blood guzzling demon you bow to, will consume you.

Chibuzoripob:
President Tinubu is 💪 working. Eluuupes are bleating
We nor go give UP on u sir
All will be well.

Foolishness every time you post

pseudaria:


Foolishness every time you post

U refer to ur father

Your type dey vex me. You no dey think Wella before you open mouth whah. Do you even stop to think of the implication of your government liquidating your funds? Of course, you don't have any, that's why you're burning with jealousy about your co-workers who have dollars saved in the bank. Maybe, if you think before talking, you'd realize such move won't reverse what's going on in the country right now. But what do you care? As long as Gbenga at the administration office loses that his $12,000 in UBA, all is well in the world for you.

primeache:
So how much dollar do you have on your account?

Don't be unfortunate.
Empty barrel makes the loudest of noise.
I understand, you lack the capacity to understand my statement.

aren't u bleating already? Just asking for my neighbours? U waka up/down nairaland, calculating how many post like a dunce.Well,may ur evil wish for the President Asiwaju EMILOKAN BOLA TINUBU consume u and ur papa household

Bwilliam:


You registered this account June 29, 2023, and since then you've made +348 comments.

I don't know if you have a task master that pays you to push this vile propaganda that you plaster all over here, or you are just projecting your own internal inferiority complex & self hate.

Mark my words.
This hate that you carry for a people, whose God is bigger than that blood guzzling demon you bow to, will consume you.

I don't blame you for your lack of understanding.

You can't contribute beyond your knowledge.

How much do you even worth sef?

Also, tell me any developed country
that operates multiple currencies in their economy?

ibinaboonline:
Your type dey vex me. You no dey think Wella before you open mouth whah. Do you even stop to think of the implication of your government liquidating your funds? Of course, you don't have any, that's why you're burning with jealousy about your co-workers who have dollars saved in the bank. Maybe, if you think before talking, you'd realize such move won't reverse what's going on in the country right now. But what do you care? As long as Gbenga at the administration office loses that his $12,000 in UBA, all is well in the world for you.

Mr knowledge, go rest. But know this, nobody is losing his dollars, euros, pounds, etc. You can always aspire to make yours.

primeache:
I don't blame you for your lack of understanding.

You can't contribute beyond your knowledge.

How much do you even worth sef?

Also, tell me any developed country
that operates multiple currencies in their economy?

donkarly:
Confused government

But the Naira has been rising now. From 395/$ in 2016 to 940/$ in 2023. Is God not good?

Thanks for not disappointing with your d.aft myopic and selfish response.

All of you quoting me, how much foreign currencies do you have in your possession?

Do you know how much foreign currencies are exchanged daily for bribery?

Is that the essence of it?

I am being objective even though I know it may never happen because of vested interest.

Selfishness and lack of patriotism is the major killer of this country.

Which developed country operates multiple foreign currencies in her economy?

ibinaboonline:
Mr knowledge, go rest. But know this, nobody is losing his dollars, euros, pounds, etc. You can always aspire to make yours.

Which developed country operates multiple foreign currencies in her economy?
start with China, Mr knowledge.
Asking people how much foreign currency they have because that's where all your attention is directed. How much people have. You can always make yours, you know. Instead of hoping the government will take it away from them. Patriotic jealousy.

primeache:
Thanks for not disappointing with your d.aft myopic and selfish response.

All of you quoting me, how much foreign currencies do you have in your possession?

Do you know how much foreign currencies are exchanged daily for bribery?

Is that the essence of it?

I am being objective even though I know it may never happen because of vested interest.

Selfishness and lack of patriotism is the major killer of this country.

Which developed country operates multiple foreign currencies in her economy?

Cardozzo:

U re mad .but u can mention Tinubu and go Scot free abi

Yes I will mention Tinubu's name because he claims to be the president of my country..... Abi Peter Obi Na your president??

Ds cbn guy too is emefiele pro max

Very dumb and daft

musicwriter:

That's the problem.
The president would need to put some highly placed people behind bars for the economy to move forward at this time. Unfortunately, that won't be possible.

But let's remember that's not the root cause of this problem.

The ultimate cause is that there's not enough industry to produce what we need because we lack scientific knowledge, and that in itself is because we learn science in a foreign language. That's the root cause of the problem.

the people who the president has to put behind bars are the ones who might give him his next presidential victory.

I'll say the problem isn't the fact we lack scientific knowledge, the problem is we like to loot too much, like way, too much. Every avenue is for one to use it to enrich themselves.

grandstar:
If the liquidity does flow into the black market, it is all a waste. That's where it's needed to clamp down on the spread between it and the official rate. The official rate has been stable but the parallel rate has been the one falling.

Liquidity in the I&E window will dampen pressure in the black market.

Manufacturers, multinationals, travelers, and students should not be in the parallel market. The CBN should see to their needs.

Turnover in the I&E window is still at $150m per day average (that's an improvement from the mid tens a week back). It should be significantly higher still.

A Presidency source leaked to the press that the CBN will open the floodgates. That should have started when the spread began to widen in late June. Not a fan of the proposed shock and awe, but their options are limited so they'll do whatever they can.

The seasonal FX demand surge will trail off this month. Demand will pick back up leading into the Yuletide. The interceding period would have seen fairly stable rates regardless of the CBN's intervention. It would not surprise me if the CBN takes credit for a cyclical leveling-off.

Not to put too fine a point on it, but I consider this media blitz to be a veiled attempt by the CBN to flip the news cycle from their books--that have raised valid concerns--to stabilizing the rates. The latter elicits unanimous plaudits.

-Lord

samuelson06:


All those things you are calling on the government to stop people from importing, I hope if they stop importing them today, you'll have enough of them to consume. That's how you guys were asking the government to stop rice importation. Where are we today on that?

There should be a process to follow.
Nigeria government just dey act e no concern me.
You don’t stop importing Rice without having your own Rice enough for your population.
I remember when I wanted to buy another car, so I had to sold my old car to add up, but I made proper plan on how to get to work and I know I will be attending a wedding, I already approach a friend to lend me his car… it all went smoothly as plan…
But in Nigeria, one idiot will just make give order without plan… see this subsidy matter now… everywhere don gbez.

nedekid:

Amen oh, it will favour us.
The only way sha is if you have naira in cash, once they increase liquidity, you quickly change your naira to dollars and keep, because it will certainly fall again.
But if you no get naira in cash, to favour you na only for mouth ohh.

Provision comes from God above.

ShaqFu:
the people who the president has to put behind bars are the ones who might give him his next presidential victory.

I'll say the problem isn't the fact we lack scientific knowledge, the problem is we like to loot too much, like way, too much. Every avenue is for one to use it to enrich themselves.

Tinubu has no moral standing to go after his co-conspirators.

He is worth $4B in a country with 133m people in multi-dimensional poverty. That is a conservative estimate. And he is not a business magnate.

This is where GEJ's signatory 'goat and yam' philosophy applies brilliantly. To his credit, Tinubu sought to toe that line by eliminating the various subsidies. Unfortunately, he did so in haste.

Now he is forced to reintroduce the subsidies, with all of its attendant demerits. Hopefully, he'll be able to try again next year. But the scarce dollars he is expending and the credibility lost will take a long time to recover.

Which sucks because by 2025, attention will begin switching to politicking. And he'd be throwing his cabinet and appointees into a disaster of his own making. The poor performers will have a litany of excuses for their critics. Nigerians have short memories tho', so if he gets all this under control, you guys will be able to barefacedly whitewash his records come campaign season.

-Lord

spanzed:
Provision comes from God above.

Abi oh.
He will surely provide for us, the righteous. Amen.

primeache:
Close all foreign currencies account and liquidate to respective naira account of holders.

This is the only option now to control the dollar and also minimize corruption and pressure on the Naira.
Many people are holding foreign currencies they do not need

It seems you're stupid, supporting apc now gives you the right to tell people what they need and don't need abi

pol23:

There should be a process to follow.
Nigeria government just dey act e no concern me.
You don’t stop importing Rice without having your own Rice enough for your population.
I remember when I wanted to buy another car, so I had to sold my old car to add up, but I made proper plan on how to get to work and I know I will be attending a wedding, I already approach a friend to lend me his car… it all went smoothly as plan…
But in Nigeria, one idiot will just make give order without plan… see this subsidy matter now… everywhere don gbez.

I like the fact that you truly understand the problem of Nigeria. Trust me, it's not like they don't know, they don't just care. They don't care about the people; they don't care about the country. And by the time the repercussion of their action strikes, they behave as though they care, meanwhile, they know exactly how they pulled the plug and let things collapse.

Nigeria is just a rubbish place. I've never seen a country that its leaders don't have any iota of love for it or its people. Look at someone like Akpabio that have been in government since God knows when is still the same person fueling corruption in the national assembly; same with Tinubu, and the rest of them. What money do these men want to make again even at the expense of the country? If Tinubu loved this country in the first place, he wouldn't have contested knowing fully well that he's sick and lacks the strength to govern this country. To make matters worse, he's now settling his corrupt party members with ministerial and other positions. Would the country ever make sense? This is even happening after Buhari's eight years doing nothing.

Look at how the country's economy is dwindling; look at how inflation and hardship is dealing with the people, yet these guys don't care. I bet you the FG can fix all our refineries within three months to stabilize the economy but they won't do it. I bet you they can work closely with states to unbundle power generation and distribution within three years and ensure we have 24/7 light but they won't do it.

Many times I'll keep wondering and becoming very sad about Nigeria. We are just suffering for nothing. I don't see any reason that people from a country blessed with enormous natural resources can be suffering the way we suffer in Nigeria. I'm not even talking about roads. Within the city of Calabar as I speak to you, lots of streets have gone very bad, yet the government doesn't care.

We are just there surviving while 1% of the country's population swallow all the good of the land.

I just so bad. So so bad.

If wishes were horses beggars would ride.....Nigeria and her Politicians are a laughing stock, they steal the country dry and gave it a matching order to work?

nlfpmod:

https://www.youtube.com/watch?v=Zh1vAIFwIz4

President Tinubu Gives Acting CBN Governor Matching Order To Improve Forex Liquidity

Good...
I pray majority of these saboteurs taking advantage of the situation will loose massively sooner than later.

ShaqFu:
the people who the president has to put behind bars are the ones who might give him his next presidential victory.

I'll say the problem isn't the fact we lack scientific knowledge, the problem is we like to loot too much, like way, too much. Every avenue is for one to use it to enrich themselves.

Corruption is an effect and not the root cause of the problem either. The root cause is that we don't live in a country created with and by our own language, education, God (spirituality).

The society isn't well knitted based on our ancestors voluntary direct participation in nature that this is what we aimed to create, so everything is disjointed because there's no cultural harmony.

The society was imposed.....in fact, everything was imposed, even the name of the country. We're not living in a country we created for and by ourselves. This not just Nigerian problem but Africa-wide problem, though some countries have managed theirs better than others.

That's the cause behind every other causes.

primeache:
Close all foreign currencies account and liquidate to respective naira account of holders.

This is the only option now to control the dollar and also minimize corruption and pressure on the Naira.
Many people are holding foreign currencies they do not need

Close all foreign currency account kee you there. Nothing one will not see on this Obasanjo's internet.

ClassicMan202:
No be only matching orders.... Na running orders



Rubbish...


Just dey shout Emilokan up and down without a single plan



What concerns Peter Obi in this thread?

Na Peter Obi dey formulate policies? na Peter Obi remove subsidy? Abi na Peter Obi be CBN governor?

E be like say If you no mention Peter Obi name for 24hours you no go dey alright.



Yes I will mention Tinubu's name because he claims to be the president of my country..... Abi Peter Obi Na your president??

What they don't realize is no matter how much they try to make a lie truth, it will always be in vain cos a lie can never yield any positive results no matter the good intentions...

LordAdam16:


Liquidity in the I&E window will dampen pressure in the black market.

Manufacturers, multinationals, travelers, and students should not be in the parallel market. The CBN should see to their needs.

Turnover in the I&E window is still at $150m per day average (that's an improvement from the mid tens a week back). It should be significantly higher still.

A Presidency source leaked to the press that the CBN will open the floodgates. That should have started when the spread began to widen in late June. Not a fan of the proposed shock and awe, but their options are limited so they'll do whatever they can.

The seasonal FX demand surge will trail off this month. Demand will pick back up leading into the Yuletide. The interceding period would have seen fairly stable rates regardless of the CBN's intervention. It would not surprise me if the CBN takes credit for a cyclical leveling-off.

Not to put too fine a point on it, but I consider this media blitz to be a veiled attempt by the CBN to flip the news cycle from their books--that have raised valid concerns--to stabilizing the rates. The latter elicits unanimous plaudits.

-Lord

The gap between the I & E and parallel rate is a sticky issue that isn't going away. Tinubu wants the rates unified, or better still, closed significantly to prevent roundtripping.

Why should travellers and students source fx at the I & E rates? Are they a strategic industry? They should source funds from the parallel markets.

From what I feel, money should be poured into the parallel markets by sale of forex to the BDC's. This will help strengthen the value there and close the gap. That was why Soludo introduced it in the first place and it worked quite well. The same with Sanusi.

Also, there's need to liberalize Form M procedures to ensure FX is processed speedily.

Nigerians want their FX like yesterday. Also, from what I experience from students, they prefer getting their funds instantly rather than wait forever.

We live in a world where Worldremit can transfer $50,000 in less than 5 minutes but people wait days to get money through the banks.in Nigeria.

Lol 😂 😂

Facelessforum1:


What is the meaning of H . How can you say such about ur president 😒

grandstar:


The gap between the I & E and parallel rate is a sticky issue that isn't going away. Tinubu wants the rates unified, or better still, closed significantly to prevent roundtripping.

Why should travellers and students source fx at the I & E rates? Are they a strategic industry? They should source funds from the parallel markets.

Are pilgrims a strategic industry?

The I&E is the only official window. If your requests are legitimate, it should be tended to on the market. Officially, all proceeds from exports, remittances, and FDI inflows should flow into the country through the window.

The parallel market should be for those who are barred from accessing the market, essentially importers of any of the 43 non-eligible items Those who need faster resolution of FX requests.
Dark Money.
And anyone who for whatever reason prefers the parallel market.

From what I feel, money should be poured into the parallel markets by sale of forex to the BDC's. This will help strengthen the value there and close the gap. That was why Soludo introduced it in the first place and it worked quite well. The same with Sanusi.

BDCs were not prevised to operate in the parallel market. They were created in the analog era for convenient filling of legitimate requests that couldn't go through the Apex Bank or commercial banks. They like IMTOs should be another player in the I&E market.

They're the POS operators of the FX market.

Meffy wanted Banks to replace the core function of BDCs, but it wasn't an attractive proposition for the banks. Overhead is a killer.

Also, there's need to liberalize Form M procedures to ensure FX is processed speedily.

Nigerians want their FX like yesterday. Also, from what I experience from students, they prefer getting their funds instantly rather than wait forever.

We live in a world where Worldremit can transfer $50,000 in less than 5 minutes but people wait days to get money through the banks.in Nigeria.

WorldRemit can transfer $50,000 because as an IMTO, their backend is liquid. The CBN is not.

To become very liquid, it needs either higher exports or higher FDI, preferably both. We've maxed out our remittance intake, and in any case, an increasing number of diasporans will turn to the parallel market to get more naira for their FX.

Turns out, exports and FDI are linked. Apparently, all the low hanging fruits have been snapped up and only FDI-funded projects can move the export needle considerably.

The "reforms" were a dance to encourage FDI. It only lasted 8 weeks.

In that 8 weeks, the CBN did not see it fit to clear any of the numerous backlogs that could have sent a clear signal to prospective investors.

Instead, we've been caught pants around the ankle mortgaging limited future oil & gas export proceeds for instant inflows to subsidize consumption.

The main rub is not only the intervention. It is also the type of intervention. The CBN is technically insolvent and needs the NNPCL to play quarterback. That will not inspire confidence across the shores.

This is why I said I've seen enough.

I previously held a position that Tinubu will at the very least be better than Buhari. I now believe that'd be a distinction without a difference. Buhari destroyed the yardstick. Tinubu will at best refurbish the yardstick. The performance of his administration will not rise to the threshold of being measured, much less favorably.

Oh, taxes and loans. On those two counts, he'd fulfill his promise of continuing from where Buhari stopped.

Tinubu's current objectives in decreasing order of priority are:

1. Get re-elected in 2027.
2. Increase his net worth to at least $10B.
3. Hand over a fairly intact country when his time is up.

None of those objectives require a stellar economy. But they'd require a ton of graft, lots of taxes, and all kinds of loans. Like Buhari, he will increase the minimum wage, sustain subsidies, complete some landmark projects, and say "I did my best".

Which is a shame. Tinubu may not be a factotum like Atiku nor have the pecuniary rectitude of Obi; but he enjoys sky-high patronage of some of Nigeria's brightest minds and had accumulated wads of political capital. It is deeply unfortunate he would be unable to leverage those two key assets to reset Nigeria's trajectory. And just like that a potential 12 - 16 years wasted (inclusive of Buhari's years and hopefully the end of APC's time in the sun).

My commentary on Nigeria's socioeconomics will decline significantly.

-Lord