josielewa:
In accounting, what you really have is 3.7billion if all other things are deducted...that is the real figure..they have factored in debts and other foreign deductions...Nigeria owes alot...about 15 billion dollars to Goldman Sachs and co...which nigeria cant repay in due time meaning they will deduct the money from the foreign reserve as stated in terms and condition in accessing the loan....the external reserve is really low...if this subsidy can be used in settling 500bn monthly debts then good..if mismanaged again, then there will be wahala in the nearest future....

You hit it spot on

You Sabi your accounting well

Honestly the liabilities Buhari put on Nigeria's Finances is horrendous

How did it go to this level


I went into panic when I saw this News

Buhari and his cronies must be brought to account for what they did with Nigeria's Money


It's very sad

Oboy...see poverty..

REDshouse:
Op with sensational headline... Many people don't know the difference between Net and Gross...
Gross is 37billion dols
Net is around 3.7billion dollars ...

So many people finding it difficult to read and assimilate... So painful

Keep quiet, you have 1000naira in the bank but you're owing people 900naira and still claiming to have 1k in the bank. Are you not a clown? Nigeria is in serious trouble as that money is far far below the threshold or minimum account balance a countryshould have even Afghanistan

Asgard73:
Apc has scammed Nigerians and Nigeria.

Everything about the party na fraud .. fake irresponsible..

God will help this country.

money don finish oo...and believe there are a still a handful of politicians who more than ready to dry up that reserve...

Talk about a failed country with mumu leaders.

richard870:
That means some individuals are richer than Nigeria....it is well

they've stolen everything with almost nothing to show for it...

They'll tell us they used all of it to pay subsidy...

Kukutente23:

Another APC lying machine.
If you claim the reserves have been on a decline since 1999 can you explain how reserves grew from 1.5bn in 1999 to $65bn in 2008 and leaving it at $35bn in 2015?
You APC minions helped destroy this country by doubling down on Buhari just because you want to see Tinubu become president in 2023.
It is that selfish desire that has brought us to where we are.
So you guys should stop shifting blame. Own up to the results of your political strategy.

How much was the reserve in 2015?

seunmsg:


How much was the reserve in 2015?

As at Jan 2015 it was 35bn and ended 29bn at December

Kobicove:


The level of educational qualification and career level I have attained I can assure you that the most literate person in your entire extended family does not have it!!!

On paper yet you sound like one bereft of proper education.

I doubt you have an ssce . Your are a street thug who has sued mouth to build mansions and travel to the moon.

Smh

bayelsaowei:
they've stolen everything with almost nothing to show for it...

They'll tell us they used all of it to pay subsidy...

As in...so sad

cursedAbiola:


so Dangote is virtually richer than Nigeria in dollars 😂

You have seen it na. When people decide to select incompetent and brainless leaders and even fight for them to win second term. that is what you get, soon I will be richer than the so-called giant of African that became an ant of Africa.

Kobicove:
If the figure JP Morgan has quoted is true then there is real cause for serious worry!

The report is been misrepresented, it is more like deducting Nigeria Savings in the Gold vault, Currency swapped plus Debt from the Dollar reserve.

Metrofox:


Keep quiet, you have 1000naira in the bank but you're owing people 900naira and still claiming to have 1k in the bank. Are you not a clown? Nigeria is in serious trouble as that money is far far below the threshold or minimum account balance a countryshould have even Afghanistan

All of the Deductions if not Debt, about $29-$30 billion were held in Gold Bullion Reserves by CBN. The Central Bank of Nigeria (CBN) is indebted to JP Morgan and Goldman Sachs to the tune of $7.5 billion. I think JP Morgan is more concerned about the current liquid external reserves.


Read more here as first published on 12 Aug 2023 by Arise TV
https://www.arise.tv/with-17bn-net-reserves-cbns-audited-account-shows-13-8bn-exposure-to-jp-morgan-goldman-sachs-fx-forwards/

Kukutente23:

As at Jan 2015 it was 35bn and ended 29bn at December

Google is well, it $20b in 2015

josielewa:
In accounting, what you really have is 3.7billion if all other things are deducted...that is the real figure..they have factored in debts and other foreign deductions...Nigeria owes alot...about 15 billion dollars to Goldman Sachs and co...which nigeria cant repay in due time meaning they will deduct the money from the foreign reserve as stated in terms and condition in accessing the loan....the external reserve is really low...if this subsidy can be used in settling 500bn monthly debts then good..if mismanaged again, then there will be wahala in the nearest future....

Your own explanation is not complete by the sum.
3.7 + 15 = 18.5, so where are the remaining 18.3b if the foreign reserve is estimated to be about 38b?

BarrElChapo:


Whytenylon please remove the polythene in your brain 😀

Na simple question I ask you o, No be insult matter. You cannot answer a simple question, the only way to show u know what u doing is to insult your father here who no give u better training.
If na so u day learned reach, there is need to probe your results from University. You don go carry expo , write pass exams day claim say u sabi book.
Mxm

My brother na be me tell your father to escape from the wretched Alaigbo make hunger no kill am n your mama. The 3 of you for don Pai over poverty hunger n starvation if you all stayed up back in Ipobland

ariesbull:


Well you are badly trained cos I doubt if you have a father ...Na people like you dem born out of wedlock

Good day

OmoGomesIlorin:


Your own explanation is not complete by the sum.
3.7 + 15 = 18.5, so where are the remaining 18.3b if the foreign reserve is estimated to be about 38b?

read again slowly....I said Goldman Sachs and co...its even above 15bn dollars...if you put all other people we owe...Nigeria is in deep shit in the nearest future If nothing is done...

Kukutente23:

As at Jan 2015 it was 35bn and ended 29bn at December

And it was $37b as at the end of December, 2022 from the official source that you relied on for your 2015 figures.

seunmsg:


And it was $37b as at the end of December, 2022 from the official source that you relied on for your 2015 figures.

What's your point?
That it was $3bn in 2015 as well and PDP covered it up?
Remind me when CBN stopped publishing its account.

OmoGomesIlorin:


Google is well, it $20b in 2015

It's you that need to Google it well

REDshouse:
Op with sensational headline... Many people don't know the difference between Net and Gross...
Gross is 37billion dols
Net is around 3.7billion dollars ...

So many people finding it difficult to read and assimilate... So painful

I think you are the one rather who cannot understand. The net figure is the one we have after all deductions are made, and that is what we have as a country. The gross figures is the amount before all deductions for loans, currency swaps and other transactions are made.

BarrElChapo:
These foreign banks should try to stfu sometimes😏

Your APC yansh has been exposed...if it is the way you would clap for them

Tareq1105:


Tinubu has the right to support any contestant of his choice but did Tinubu ask Buhari to destroy Nigeria?

Was Tinubu part of his government? Was he a minister or adviser in Buhari government? Think before you comment.

Stop trying to be a wise ass. Did Tinubu ever criticize Buhari? No, he even said that he will continue Buhari's works.

Lovenorth:
May God rescue us from the evil hands of Tinubu

You supported Buhari. Is it not a continuation of Buhari... ? Bipolar shege

MTNnews:
Your Igbo pathetic soul is only labouring in vain to your doom. This news support Tinubu more than harm himmlike you want everyone to believe.

From this report you can see he met just $3 billion which is next to nothing in reserve. Now compare how much

Obasanjo
Yardua
Ebele
Buhari

All met in reserve when they became president ? Can you now see there is a solid case as to why he can not succeed if he didn't succeed. Many of you ipob no just gree get sense with your foolish sensationalism of every negative news about Nigeria.

From the nonsense you wrote it is clear that you are high on dried cow dung.

Taylor90:
That was how he claimed he has saved billions on first month of fuel subsidy

Till NLC bursted his butts that he didn’t save shishi

A man synonymous with fake

Person wey hire fake bishops and faked Donald dukes childhood pics as his own

I’m not surprised na una dey surprise

Are igbos stupid or something
Please as a normal human being with sense can't you reason it was the last administration's lies
Daft

Kukutente23:

Your argument is totally flawed.
Orji Uzor Kalu ruled Abia for 16 years at least. Was he good? Was any of his appointees good?
Yorubas voted Goodluck too. And Yaradua. You seem to forget that in terms of margins, Obi got more votes from his region than any other candidate in the last election. Tinubu lost two states in SW. Atiku lost one state in NE. Kwankwaso lost six states in NW. Obi won ALL five states in SE. If we're looking at strictly tribal lens, that alone makes Igbo look bad. It's a seismic shift for Atiku to go from winning all SE states in 2019 to losing all. He couldn't even get 25% in any!!
That said, you fail to realise how strong Tinubu's political network is especially in the SW. And with good reason too. He stood up to the tyranny of PDP in the SW in those days. With that, he won so many youths over.
I know a lot of Yorubas and northerners who voted for him and are regretting that now. It doesn't mean you'll expect every Yoruba who voted him to have the same feeling especially with how divided our politics has become.
Let truth be told, if Obi had won and was fumbling at this stage, with the toxic political atmosphere we have now, many Obidients from his region will double down their support for him and label anyone who doesn't do so haters. It's a product of the divisive politics birthed by APC especially in the Buhari years.
The truth is with time, if Tinubu continues to fumble, support among Yoruba middle class will start to waver. But if Igbos make the mistake of making it about tribe, tinubu and his goons will capitalise on that to turn the conversation away from his performance or lack of it to tribal goading and we'll be back to square one

Oga,if it was rochas,umahi,orji uzo,they won't win all those SE States,meaning obi did it not because he is igbo,but because igbos and edos believed he is too good,why didn't you mention how he won flawlessly in Edo?how Edo is becoming the capital of labour party?abi Edo your cousins na igbos too?

Well about orji uzo,have you ever been to ABA,I mean where you in ABA during orji uzo regime?am sure you were not so please never ever say that again,I was born in the middle 80's and I just finished secondary school when orji uzo became a governor.

Orji uzo did all the roads in ABA,I kive in Ibadan now and Ibadan is so depleted,my wife is yoruba and he told me that it was even ajimobi that did some roads like 6 years go or so wey don spoil.

Oga orji uzo in my very eyes did Jubilee behind my road which is a major road called Azikiwe,did market road Infront of me,did tenant road,Cameroon road next,Clifford road,ehi road and ASA road,these raids are in front of each other because ABA was greatly planned,that man did all the roads in ABA but the next governors that followed him did nothing

Orji uzo made enyimba football club what it is today,as of that 1999 he started paying players 1million,always comes to the stadium on coaster bus with his commissioners every weekend to come watch match,ABA was so so sweet and looks great,funny enough you have never been to ABA or have only saw it on news few years back or being to there few years back,so never you talk about what you don't know,

The only state in yoruba land that is far beautiful/Better than ABA is Lagos,during orji uzo time,I be confirm ABA born and brought up,the only governor that can beat what he did is otti,but not yet.my Yoruba wife even told me how messed up ekiti is, don't talk about where you have never been to please

Anyways

TRUTH HURTS

If you like capitalize,do you wonder why igbos can never vote for other politicians in igbo land the way we voted for obi?it's because we don't support nonsense,obj,yaradua,Jonathan ,these are the 3 presidents igbos voted for and they didn't dissapoint and ARe not igbo,we even voted OBJ against ojukwu which angered ojukwu.

So if at all obi messed up,we will attack him that is who igbos are,as for tinubu he didn't fight for your own good,the looting and destruction APC is engineering now is the reason why he did a coffin for Jonathan and did occupy Nigeria,we all were gullible and fail for it not only you,yet we refused to vote for buhari because we knew he would be a disaster not because he is not Igbo,is that not why he called us 5%?

Broda truth be told that buhari and tinubu you voted for are disasters,we are not part of it,continue defending him as your brother,hope you got the prayer akpabio sent to your mailbox for your holiday enjoyment bro👍

cursedAbiola:


so Dangote is virtually richer than Nigeria in dollars 😂

Dangote is another thief.

This is to all you lovers of your gawd awful country, Liegeria, let it be known that your country is sinking faster than you can ever imagine. A country that is so richly endowed with natural resources and yet 99% of its citizens are poor beyond measure. Your impostor president lied to you that your foreign reserves are more than they actually are and he kept borrowing like a drunken sailor. Let me say it again, Liegeria, would NEVER get better no matter who is piloting its affairs because it was structured to fail based on its faulty foundation. Know this now and know peace! The condition that a lot of you find yourselves in now is just the beginning. The time would come and you would be killing each other just to survive. And I would be back on this same platform to talk about it.

Only 3.7bd chaiii they have finished it ...

MTNnews:
My brother na be me tell your father to escape from the wretched Alaigbo make hunger no kill am n your mama. The 3 of you for don Pai over poverty hunger n starvation if you all stayed up back in Ipobland

I dey Lagos now Na so your sister Dey beg


Una go see pepper

josielewa:
read again slowly....I said Goldman Sachs and co...its even above 15bn dollars...if you put all other people we owe...Nigeria is in deep shit in the nearest future If nothing is done...

Don't scare yourself with the national debt. the US for example is owing more that its reserve,