Cut in Money supply? Where is that money been supplied to.

jumper524:
What best way to do it if not through naira redisgn.
But then again, it should be properly implemented, banks should be given time frames to improve their data base to avoid glitch in transfer or overwhelmed data base.
Empower micro business users with POS like MONEI point and the rest, limit the daily cash withdrawal to 5k for all bvn users account.
You can't transfer beyond 5k to any POS.


I remembered the naira redesign saga gave the Naira strength against the dollar, if only Emefiele considered the SWOT analysis before embarking.
Infact in Abuja, the naira to dollar rate dropped to as low as 480 then.
When these policy is implemented, unnecessary spending would be cut short and it'll improve the naira to dollar speculation.

guess you've forgotten the problems encountered during the naira re-design,alot of people lost their lives...

Mandate1:
was this not the same thing Emefiele introduced and Tinubu and his team criticised? The real problem with the Nigerian economy was the over saturation of the system with #1000 notes. That's the real father of inflation. 1000 naira should be scarce like gold.

Cash and zeros in the bank account are not the same thing. Edun was talking about the latter.

mrvitalis:

Wale Edun has little knowledge of macro economics... Has no experience I have read his CV.... State commissioner for finance is more of an accounting job is largely micro economics which is ok in tho not an expert

Minister of finance is not in any way similar to commission of finance theor job descriptions is largely divergent to each other

Minister of finance is largely policy formulation for the fiscal policy of the nation, balancing of trade, and overall economy coordination

Wale Edun can't even compare to Oby ezekwesili in any level... Bro he no reach her half by any standard... No they hype that man

He has a Masters in Economics

grandstar:


He has a Masters in Economics

Almost everyone has a masters na

I don't know why the minister of finance is talking about money in circulation. He's not the CBN gov.

That's the remit of the CBN gov or is he still having the portfolio of special Adviser on monetary policy?

I fear this Tinubu boys will treat CBN worse than Buhari boys did.

The minister of finance should be more concerned with gov spending, budgetary discipline, govt revenue sources and such other things and the FG has a whole lot of problem in that regard especially with madam Zainab who was always looking timid and out- of- depth in the role, such that Emefiele took the shine off her.

The biggest tragedy is to replace her with a belligerent minister who don't know the limit of his brief but be chooking mouth in monetary issues.

Fuel pump price and forex rates are the only cause of inflation in Nigeria.
Money confiscation by emefiele which is the extreme side of what edun is proposing also created artificial hyper Inflation to the point that we were paying very high to buy cash.
This new economic policy will only inflict more pain on the already dying nigerians

Too much trolling, result won't happen overnight. Rest!

NOwazobia:
Too much talk!


We need result!

Mandate1:
was this not the same thing Emefiele introduced and Tinubu and his team criticised? The real problem with the Nigerian economy was the over saturation of the system with #1000 notes. That's the real father of inflation. 1000 naira should be scarce like gold.

it wasnt the same thing.. he tried to change currency not cancelled it.. 1000 and 500naira should be discontinued and 200naira should be made the highest denomination..do this and see money return back to the bank, see reduction on phyical money laundering and see the work of efcc becomes easy

hegelian:

it wasnt the same thing.. he tried to change currency not cancelled it.. 1000 and 500naira should be discontinued and 200naira should be made the highest denomination..do this and see money return back to the bank, see reduction on phyical money laundering and see the work of efcc becomes easy

you sure don't have enough information on the actual implementation of the policy. From the policy, it was established that atm terminals will only dispense #200 and nothing more. The aim was to make one thousand naira and #500 very very scarce, but politics messed the whole stuff.