shuuut da fuucck up! This line of defence is too old.

Don't know why foooools would want us to take their words for truth as, against award winning, well-established news source.

Yeah! The usual mentally-retaarded technic of throwing the baby with dirty water. Nonsense!

sweet9ja:

I mean both reports are false. Because many local papers reported it doesn't automatically make it true.
C'mon, how can the GON plan to invest such amount of money in a foreign country and we get the news from a third hand?
Does it make any sense?
Please, let's get our fact right b/4 we cry wolf. It's all propaganda.

^
And when did Sahara Reporters become an "award winning, well-established news source?"
Did they get the award for photoshopping?

Sahara Reporters is best known for fake news these days.

[size=14pt]The fake pic below too is courtesy Sahara Reporters[/size]. Shame.
http://saharareporters.com/photo/photonews-jonathans-declaration-when-jonathan-women-met-goodluck-men

www.nairaland.com/attachments/324341_SaharaReportersFakePicture_jpg69a0b6e4ad1c8831fa731bd73bb022d2

https://www.nairaland.com/nigeria/topic-568502.0.html

^^^^^^^^

Demdem:

Accursed, dont mind SR. they are noted for their lies. Please kindly publish the true status of Nigerian Foreign Reserve since the beginning of this year till date since you seem to be in custody of it. lets try and compare it with what SR claims it is.
ODE OSHI !!!!!!

Dr. Spin
All i expected you to do is, provide alternative source discrediting SR's.

when they report Ima Niboro is going to be replaced with Rueben Abati, were they lying?

Beaf:

^
And when did Sahara Reporters become an "award winning, well-established news source?"
Did they get the award for photoshopping?

https://www.nairaland.com/nigeria/topic-568502.0.html

Rhino.5dm:

Dr. Spin
All i expected you to do is, provide alternative source discrediting SR's.

when they report Ima Niboro is going to be replaced with Rueben Abati, were they lying?

Really? Everyone knows how to hit the CBN website. No?

^^^^

Gradually spinning himself out from his LIES
Short Devil.

sweet9ja:

I mean both reports are false. Because many local papers reported it doesn't automatically make it true.

Don't be a dolt. You made the claim that SR was in the employ of some 'subversives' because of the Indonesia report. Now you've been told that the likes of Vanguard and Punch newspapers carried the same story, you lack the class to backtrack. What a shame.

sweet9ja:

C'mon, how can the GON plan to invest such amount of money in a foreign country and we get the news from a third hand?

Were you informed when the contract to build the 2 recently launched satellites was signed?
There are thousands of things that we are not informed about until the deed is done.

texazzpete:

Don't be a dolt. You made the claim that SR was in the employ of some 'subversives' because of the Indonesia report. Now you've been told that the likes of Vanguard and Punch newspapers carried the same story, you lack the class to backtrack. What a shame.

Please, give me a break, any sane mind will not believe that phoney boloney.

Were you informed when the contract to build the 2 recently launched satellites was signed?
There are thousands of things that we are not informed about until the deed is done.

Actually that decision was taken during OBJ's administration shortly after the lunch of the first sat.
So, like I said earlier get your facts straight b/4 portraying your ignorance.

texazzpete:

Don't be a dolt. You made the claim that SR was in the employ of some 'subversives' because of the Indonesia report. Now you've been told that the likes of Vanguard and Punch newspapers carried the same story, you lack the class to backtrack. What a shame.

Please, give a break, no sane mind will believe that phoney boloney.

texazzpete:

Were you informed when the contract to build the 2 recently launched satellites was signed?
There are thousands of things that we are not informed about until the deed is done.

Actually that decision was taken during OBJ's era, shortly after the launch of the first sat.
So, like I said earlier get your facts straight b/4 portraying your ignorance.

Beaf:

^
And when did Sahara Reporters become an "award winning, well-established news source?"
Did they get the award for photoshopping?

https://www.nairaland.com/nigeria/topic-568502.0.html

provide alternative source that give better analysis of Naija FR!!!

If you can't bury your head in shame!

Some of y'all on here are just either too slow or just dumb; what reports go on and insult a president glutenous , et al and giving out unnecessary name like it's called for? As for people asking other should provide proof, here is your proof. I wish I can download this into Excel and perform simple analysis for you.

Date Gross Liquid Blocked %

1/31/2011  33,124,872,253  30,853,899,483  2,270,972,771 

6.86%
1/28/2011  32,881,799,545  30,604,190,653  2,277,608,892 

6.93%
1/27/2011  32,642,338,382  30,335,973,058  2,306,365,324 

7.07%
1/26/2011  32,664,532,318  30,358,576,104  2,305,956,214 

7.06%
1/25/2011  32,906,701,469  30,602,272,637  2,304,428,832 

7.01%
1/24/2011  32,955,840,231  30,627,411,501  2,328,428,730 

7.07%
1/21/2011  32,955,946,718  30,609,803,720  2,346,142,998 

7.12%
1/20/2011  33,261,529,400  30,909,887,343  2,351,642,056 

7.08%
1/19/2011  33,208,181,010  30,875,729,415  2,332,451,594 

7.03%
1/18/2011  33,490,024,555  31,149,320,558  2,340,703,997 

6.99%
1/17/2011  33,520,124,162  31,182,721,241  2,337,402,920 

6.98%
1/14/2011  33,528,338,331  31,190,095,988  2,338,242,344 

6.98%
1/13/2011  33,786,031,978  31,440,425,311  2,345,606,666 

6.95%
1/12/2011  33,995,446,685  31,639,380,503  2,356,066,182 

6.94%
1/11/2011  33,377,635,079  31,026,627,805  2,351,007,274 

7.05%
1/10/2011  33,358,722,721  31,034,341,297  2,324,381,425 

6.97%
1/7/2011  33,378,303,874  31,049,784,930  2,328,518,944 

6.98%
1/6/2011  33,683,076,584  31,347,250,458  2,335,826,126 

6.94%
1/5/2011  32,255,431,920  29,892,559,858  2,362,872,062 

7.33%
1/4/2011  32,367,890,712  30,000,518,548  2,367,372,163 

7.32%

As of January 4, 2011 the movement in reserve is as you can see it

10/14/2011  34,599,143,219  33,067,285,631  1,531,857,588 

4.43%
10/13/2011  32,989,797,311  31,461,128,584  1,528,668,727 

4.64%

As of October 2014, the reserve is at that amount

Y'all do the math. I forgot, cited source from its mouth  --- The Central Bank of Nigeria http://www.cenbank.org/IntOps/Reserve.asp

Na wa for this [size=18pt]Odechukwu Retardeens[/size] government ooo

Well what does a drunken Sailor Fisherman know other than blowing money irresposibly

woe unto our so called leaders that are destroying Nigeria or Nigerians. And to the people that annoyingly supported them" they shall know no peace!"

This report is bizarre for its gratuitous ignorance. The foreign reserves are not managed by Jonathan but by the CBN. I suppose you can blame Jonathan for creating a fiscal situation that has put pressure on the Naira ''compelling'' the CBN to deplete the reserves in support of the Naira but I have always been of the view that Sanusi should allow the Naira to fall and not use the reserves to prop it.

However, for the report to create the impression that GEJ has ''spent'' the reserves reflects the appallingly misinformed guff that is produced in public debates in Nigeria. You can't help but wonder whether it is true we have lower IQs than the West and Asia and whether, as a consequence, our condition and Govt is a reflection of us. On the one hand you have an incompetent and corrupt political class, on the other, a benighted public.

guys, lets see the bigger picture.
How rettarded can odechukwu actually be?
How could okonjo-ewe ila have gone turncoat so fast?
Ok, maybe i concede that beaf is accursed but,
The speed, alacrity and pleasure with which these characters have played their roles in bringing us thus far is just supernaturally fantastic.
Ergo, they are acting out a prepared script. I believe the american CIA is starting to lean on their recruits to hasten the nigerian revolution/breakup, ETA 2015. Whether we all emerge winners is left to be seen.
Sha, more probably i am overly excitable, or slightly mad-    who wouldnt be with the sheer wickedness that abounds.

Jonathan Depletes Nigeria's Foreign Reserve By $3.5 Billion In 2011 Alone
Posted: October 17, 2011 - 16:26


President Goodluck Jonathan's financial recklessness has further depleted the strategic foreign reserve of the Nigerian state by $3.5 billion in 2011 alone, according to information obtained by SaharaReporters.

A source at the ministry of finance told SaharaReporters at the weekend that when Mr. Jonathan came into office, he met a robust foreign reserve in place, but this year alone, he and his gluttonous inner circle have frittered away $3 billion of the reserves, which is now at $32 billion, down from $35 billion in January.

This situation is further compounded by criminal rent seeking and petroleum subsidy applied to petroleum products importers, notably Femi Otedola, who are also members of Jonathan's "Economic Team." In 2011, rent seekers and economic leeches will get $6 billion in the name of petroleum subsidy.

A Central Bank of Nigeria document however states that so far petroleum product importers have only imported $7 billion worth of fuel imports, meaning that only $1 billion of their investment has been spent on import, with Nigeria being made to subsidize and reward their criminal activities with $6 billion.

SaharaReporters also learnt that foreign multinational oil companies are ripping Nigeria off through a maze of sharing and royalty agreements that were agreed upon in the 90s when oil prices were at $30 per barrel. Last week, following an extraordinary meeting of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) on October 10, the CBN revealed in a communiqué that a substantial part of oil production (about 40%) is currently in deep offshore wells.
“Based on terms agreed in the 1990s when oil price was under $30, royalty from oil wells deeper than 1,000 metros is zero percent and the nation is maidenly 20 %of profit by oil companies after deducting their expenses, as a result the country (Nigeria) has had limited benefit from high polio prices and increasing output, with most of the gains going to multinational oil companies under and inequitable fiscal arrangement," the MPC said.

Whereas the MPC recommended the passing of the Petroleum Industry Bill (PIB) to stop the scams in that industry, it however recommended that Nigerians be saddled with the burden of paying for the crimes of the rent seekers involved in petroleum subsidy scams and blamed “discordant voices” for delaying “enabling legislation for correcting fiscal terms.” The committee asked that Nigerians be made to pay higher prices for petroleum products that would put some $10 billion back into the economy.
“Whereas the labour unions have genuine concerns about the impact of subsidy removal on the poorer segments of society, the stark reality is that the country is living above its means,” the MPC said.

The MPC estimates that “simply passing the PIB and removing subsidies on Premium Motor Spirit(PMS) will add at least $10 billion to national reserves annually,” with no consideration of how quickly irresponsible governing vultures will descend on it at the expense of the nation’s poor on whose back such numbers will be made up.

Are Sahara Reporter supporting subsidy removal or what is truely the agenda of this write up?

Posted: October 17, 2011 - 16:26
President Goodluck Jonathan's financial recklessness has further depleted the strategic foreign reserve of the Nigerian state by $3.5 billion in 2011 alone, according to information obtained by SaharaReporters.

A source at the ministry of finance told SaharaReporters at the weekend that when Mr. Jonathan came into office, he met a robust foreign reserve in place, but this year alone, he and his gluttonous inner circle have frittered away $3 billion of the reserves, which is now at $32 billion, down from $35 billion in January.

Reserves in Africa's top crude exporter did rise sharply to $34.59 billion by Oct. 14, from a multi-year low of $30.86 billion on Oct. 7, the central bank latest figures showed. The reserves were at the same level a year ago.

http://af.reuters.com/article/nigeriaNews/idAFL5E7LI4BP20111018

The above does not mean GEJ has been fiscally prudent.

4 Play:

http://af.reuters.com/article/nigeriaNews/idAFL5E7LI4BP20111018
The above does not mean GEJ has been fiscally prudent.

It surely does. You are quite sound in financial matters, I don't expect you to be one of those making sweeping statements which do not factor in the fact that the CBN has had to fight massive battles on the forex market using dollars from the external reserve.
Our external reserve is wholly dependent on the oil market, developmental projects, and CBN policies.