222Martins:
And who are the biggest hoarders of $$$? Politicians? Yahoo boys? Top level civil servants? Wrong!! The biggest hoarders of $$$ are banks. The way banks hoarded the newly designed currency and created artificial scarcity and panic will give you a clue as to what they can do with the $$$.

The second question to ask yourself is this: During the Naira redesign and ensuing Naira scarcity, where did the presidential aspirants and others get the $$$ they shared during the party primaries and general elections?

you really know very little about happenings in your country with this your comment. Banks that are well regulated are the ones hoarding dollars, while the unregulated politicians, BDCs are not hoarding dollars. Nawa!

okoroemeka:
correct truth,why looking for thieves and looters to return their loot ,whenl the major reason for the FX crisis is facing you, refined petroleum products takes roughly 40% of the dollars needed for importation and plastics takes another 3-4% and fertilizer may take another 2-3%<between this three products they are taking almost 50% of all dollar demand for importation,the question we will then ask ourselves is why is it so difficult for the government to repair our refineries and have plastics and fertilizer feedstocks as byproducts,

I agree with you, if only they will look at long term saving and earnings . No one is hoarding the dollars once people percieve your policy decision is going to affect the value of their asset they have to protect themselves ...it is simple logic... Until you create a Special Purpose Vehicle to ensure both Private and Public Refineries and Petrochemical are up and running, chances that you would attract FDI is low , since you can't make your own thing work ...no FDI, no Taxes , no Revenue for spending...Most importantly you need to ramp up local production ...Fish and Chicken alone glup $3.5Billion Annually.

Talk to Ganduje ,matawalle,the CJN,Inec chairman,and all APC stalwarts

Nteogwuija:


This is the position I've always held. The death should be gory and be televised. You can call this inhumane all u like. Corrupt leaders in this country are morally depraved people with the word humanity absent in their dictionary. The death penalty is the only deterrent to corruption in this country, but it's easier to find a virgin prostitute than for the legislature championing a law that supports this.

I've always maintain this position too.

You see murder and any form of corruption should warrant a death penalty, doing so will make prospective sub humans think before doing anything contrary to the laid down principles but as you've just said in last line, there's no country for dreamers.

FGN always planning and eyeing yet not performing...

Lmao, "talk with looters" bawo... Wetin dey sup?

LeoDeKing:


God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

Be more creative in this your propaganda work. You have more 3 years to go.

Igbo hatred spewing and divide and rule cannot take you too far.

Today Igbos have more APC governors than other parties. They have more APC governors than other states. Yet you cannot imagine them as part of your party because it is without sowing hatred and ethnic baiting you will be sooo empty with nothing to talk about. Folks like you are full of negative stuffs without anything constructive to contribute to your society

Think about your life and change

LeoDeKing:
By the special grace of God, Nigeria will be back on her feet. Yes, the problem of Nigeria must be addressed from the root, not mere cosmetic solution which can't stand the test of time. The initial challenge is normal, especially if the problem is to be truly addressed and it takes a man with strong balls to do that.

And for all the enemies of the state waiting in the wings to see my country go down, you will all cry blood, even more blood than the ones shed when your incompetent candidates were rejected at various level of the electoral pprocess.

Wicked souls can start praying, fasting, offering sacrifices and keeping night vigils so Nigeria will go down, all your prayers will be thrown back to you barbarians.

God bless President Bola Ahmed Tinubu, GCFR.
God bless Nigeria and patriotic Nigerians.
God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

Prayers dont build a nation.. actions do. Hope and payrers cannot solve FX and security crisis.

God cannot be tricked. We got here by folks like you electing GMB 2X .. so that BAT would become president. Now he’s gotten the job, let him fix the mess, dont give God another assignment

LeoDeKing:
By the special grace of God, Nigeria will be back on her feet. Yes, the problem of Nigeria must be addressed from the root, not mere cosmetic solution which can't stand the test of time. The initial challenge is normal, especially if the problem is to be truly addressed and it takes a man with strong balls to do that.

And for all the enemies of the state waiting in the wings to see my country go down, you will all cry blood, even more blood than the ones shed when your incompetent candidates were rejected at various level of the electoral pprocess.

Wicked souls can start praying, fasting, offering sacrifices and keeping night vigils so Nigeria will go down, all your prayers will be thrown back to you barbarians.

God bless President Bola Ahmed Tinubu, GCFR.
God bless Nigeria and patriotic Nigerians.
God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

I join you in this prayer:

May God remove Lagos state and Nigeria from the hands of wicked and fruad stars state capture individuals..... Amen.

Mandate1:
you really know very little about happenings in your country with this your comment. Banks that are well regulated are the ones hoarding dollars, while the unregulated politicians, BDCs are not hoarding dollars. Nawa!

Regulated you say? I can see you live in a fantasy world. Who was regulating them when they received but refused to dispense the newly designed Naira to the populace? But politicians were getting the new notes in bundles and spraying it at parties?

If you think banking and doing business in Nigeria in general is black and white, then you are right? If you believe that there is a grey side for those who seek to know, then you are equally right.

naija

First time a government in the history of this country is openly admitting that the illegal, black, unofficial (whatever you call it) economy is bigger than the one it claims to control and that the CBN is truly a minority player in the economy of Nigeria just as I have been asserting these past few weeks. (if anyone doubted the failure of the Emefiele initiative to mop up the naira as a real sign).

I think by waving the white flag and accepting that corruption has won I think the negotiations it is calling for with economic terrorists and saboteurs may just bring them out.... from the shadows at least.

The question will now be as is said in the movies, "what are ya gonna do abourit.....'

PUSSYHOE:
Wait a minute FG know the looters?

I'm shocked as well.

It's like this govt is out of ideas to help this economy

222Martins:
Regulated you say? I can see you live in a fantasy world. Who was regulating them when they received but refused to dispense the newly designed Naira to the populace? But politicians were getting the new notes in bundles and spraying it at parties?

If you think banking and doing business in Nigeria in general is black and white, then you are right? If you believe that there is a grey side for those who seek to know, then you are equally right.

that you believed the Emefiele propaganda that the banks were the ones hoarding the new note is amusing. So whr are the new notes now? CBN printed a very small chunk of the new note and you accuse banks of hoarding them. If you have a banker friend, do ask the person what transpired then. Joining the bandwagon isn't a sign of brilliance.

LeoDeKing:
By the special grace of God, Nigeria will be back on her feet. Yes, the problem of Nigeria must be addressed from the root, not mere cosmetic solution which can't stand the test of time. The initial challenge is normal, especially if the problem is to be truly addressed and it takes a man with strong balls to do that.

And for all the enemies of the state waiting in the wings to see my country go down, you will all cry blood, even more blood than the ones shed when your incompetent candidates were rejected at various level of the electoral pprocess.

Wicked souls can start praying, fasting, offering sacrifices and keeping night vigils so Nigeria will go down, all your prayers will be thrown back to you barbarians.

God bless President Bola Ahmed Tinubu, GCFR.
God bless Nigeria and patriotic Nigerians.
God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

You are the real enemy of the country. Ogede ba je e lon pon. una life go become like the situation of Nigeria. Awon olofo.

LeoDeKing:
By the special grace of God, Nigeria will be back on her feet. Yes, the problem of Nigeria must be addressed from the root, not mere cosmetic solution which can't stand the test of time. The initial challenge is normal, especially if the problem is to be truly addressed and it takes a man with strong balls to do that.

And for all the enemies of the state waiting in the wings to see my country go down, you will all cry blood, even more blood than the ones shed when your incompetent candidates were rejected at various level of the electoral pprocess.

Wicked souls can start praying, fasting, offering sacrifices and keeping night vigils so Nigeria will go down, all your prayers will be thrown back to you barbarians.

God bless President Bola Ahmed Tinubu, GCFR.
God bless Nigeria and patriotic Nigerians.
God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

Shit da fvck up 🤡🤡. Thiéfnubu is not God's mandate. Suffering and bad economic will run Thiéfnubu mad and kill all his useless supporters. Don't ever involve God again in this your misera*** life again. Una never see anything. Thiéfnubu will never achieve anything. 🤡🤡🤡🤡🤡🤡🤡🤡🤡

Tareq1105:


Capital punishment under Economic Sabotage Law is the only solution.

As we speak officials of this government are mopping up foreign exchange.
Are they saboteurs too?
The question is: Do you blame them.
Is the purchase of the dollar A BAD THING. Think about it carefully.
After all government SHOULD have its savings in foreign exchange so it too should BUY on our behalf to take charge of the economy.

Will you not advise your State government to buy up dollars so that inflation does not eat up its resources?
Will you not advise the company you work for to buy up foreign assets so that it can pay your salaries in this depressed economy.
Will you not save part of your salary in foreign exchange so that your wife does not chase you out of the house when you cannot provide sustainable soup money.

The fact is that buying up to save is not a crime, speculating is NOT a crime but a legitimate way every economic unit hedges, insures, protects (whatever you like to call it) itself from devaluation and inflation.

So the problem is never the markets. It is never the buying and selling of foreign exchange, neither is the problem the hoarding, warehousing or whatever (you many even say the government grows envious by the day that it does not command the biggest hoard of foreign exchange, and why should it.)

The problem is at the gates of the market, the GENERATION, the EARNING, the PRODUCTION, the INVESTMENT, the SPENDING of the foreign exchange that matters.

To be brutally honest, how does the government spend its foreign exchange that it cannot recharge its reserves, is it not by largely unproductive ventures, largely inefficient ventures, corruption, etc. Someone just said the millions going to SUV's. That is how government undermines its economic advantage, empties its coffers and becomes a minority player in the foreign exchange scape.

Who else in Nigeria will spend such HUGE amounts on administrative costs, cost centres that earn absolutely nothing. That is simply why government will continue to lack and the rest of Nigeria will continue to have. In hard times one responds properly by saving, while the other acts irresponsibly by frittering away the little it has.

LeoDeKing:
By the special grace of God, Nigeria will be back on her feet. Yes, the problem of Nigeria must be addressed from the root, not mere cosmetic solution which can't stand the test of time. The initial challenge is normal, especially if the problem is to be truly addressed and it takes a man with strong balls to do that.

And for all the enemies of the state waiting in the wings to see my country go down, you will all cry blood, even more blood than the ones shed when your incompetent candidates were rejected at various level of the electoral pprocess.

Wicked souls can start praying, fasting, offering sacrifices and keeping night vigils so Nigeria will go down, all your prayers will be thrown back to you barbarians.

God bless President Bola Ahmed Tinubu, GCFR.
God bless Nigeria and patriotic Nigerians.
God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

You are a joke.

[color=#006600]LeoDeKing

By the special grace of God, Nigeria will be back on her feet. Yes, the
problem of Nigeria must be addressed from the root, not mere cosmetic
solution which can't stand the test of time. The initial challenge is normal,
especially if the problem is to be truly addressed and it takes a man with
strong balls to do that.
And for all the enemies of the state waiting in the wings to see my country
go down, you will all cry blood, even....

I use to look at you like someone with sense, but right now, I'm reconsidering...

JASONjnr:


Your master wants to negotiate with looters.... just imagine the low IQ of the person you worship....

The question is how did he recognised the looters?

Abi they get union that we r not aware of?

dre11:


https://punchng.com/forex-crisis-fg-plans-talks-with-looters-eyes-mop-up-from-hoarders/?amp

Nigerias problem is that the federal government didn't invest in productive kind of people that can bail out this country when in need

I remember my lecturer in college a Prof of Economics giving us example of countries there successful business organizations helped

Example Japan when it had serious Economic and Financial crisis.
Japanese Companies overseas repatriated a lot of there funds to help Japanese Economy recover

And it helped

Successive Nigerian governments have not seen the need to empower resourceful individuals to succeed in the Global Markets thereby being a plus to Nigeria as a country

Rather what they have empowered are individuals that hang around the corridors of power. Get stupendous rich at the detriment of Nigeria.

No iota of values are added
But there are still billionares

Wealth without enterprise have finished this country.
But those in power don't want to learn and do the right thing.

One good thing that may come out of all this may be a decoupling of the economy away from a government centred one to a private sector one. A future where the CBN acts as a regulator not a market participant. Where their primary business will be more about the naira rather than the dollar. Where Nigerian banks will be forced to fund the real, productive sector with a strong bias for export led enterprises, simply because they cannot get their dollar fill elsewhere.

yinkus6750:
Is this s technical economic approach ?
Make the country work and reduce demand for forex.
Nobody will tell when dollar will regulate itself.
Make the tertiary institutions work well, let hospitals be well equipped and funded, and increase local production.
With that, people will school here, medical tourism will be reduced, and reliance on imported goods will also minimise.
If demand for dollars is still on increase, no government can regulate it, with all foreign currency majorly in aboki hand in the black market.

And you think everything areas you listed can be addressed in such a short time. Those problems you listed started 30,40 years ago.

dre11:


https://punchng.com/forex-crisis-fg-plans-talks-with-looters-eyes-mop-up-from-hoarders/?amp

“It is worth the sacrifice. It will require reaching out to corrupt people. What matters is that things get done. $100bn will be life-changing for the country.”

Who are these corrupt people

dont negotiate with terorist,dont negotiate with looters,root them all out,demobilize them,make them imbeciles and Nigeria monies will come back.

Nigeria at d mercy of Looters

Reference:


As we speak officials of this government are mopping up foreign exchange.
Are they saboteurs too?
The question is: Do you blame them.
Is the purchase of the dollar A BAD THING. Think about it carefully.
After all government SHOULD have its savings in foreign exchange so it too should BUY on our behalf to take charge of the economy.

Will you not advise your State government to buy up dollars so that inflation does not eat up its resources?
Will you not advise the company you work for to buy up foreign assets so that it can pay your salaries in this depressed economy.
Will you not save part of your salary in foreign exchange so that your wife does not chase you out of the house when you cannot provide sustainable soup money.

The fact is that buying up to save is not a crime, speculating is NOT a crime but a legitimate way every economic unit hedges, insures, protects (whatever you like to call it) itself from devaluation and inflation.

So the problem is never the markets. It is never the buying and selling of foreign exchange, neither is the problem the hoarding, warehousing or whatever (you many even say the government grows envious by the day that it does not command the biggest hoard of foreign exchange, and why should it.)

The problem is at the gates of the market, the GENERATION, the EARNING, the PRODUCTION, the INVESTMENT, the SPENDING of the foreign exchange that matters.

To be brutally honest, how does the government spend its foreign exchange that it cannot recharge its reserves, is it not by largely unproductive ventures, largely inefficient ventures, corruption, etc. Someone just said the millions going to SUV's. That is how government undermines its economic advantage, empties its coffers and becomes a minority player in the foreign exchange scape.

Who else in Nigeria will spend such HUGE amounts on administrative costs, cost centres that earn absolutely nothing. That is simply why government will continue to lack and the rest of Nigeria will continue to have. In hard times one responds properly by saving, while the other acts irresponsibly by frittering away the little it has.

Well said bro. Someone said they are expecting the shipments which means they've paid for it already, in Dollars 💰 o. Approx N160Billion. The masses are praying, the government keeps spending. They said we should patronise made in Nigeria products but they chose to order foreign made SUVs.

We are not ready jor....

LeoDeKing:
By the special grace of God, Nigeria will be back on her feet. Yes, the problem of Nigeria must be addressed from the root, not mere cosmetic solution which can't stand the test of time. The initial challenge is normal, especially if the problem is to be truly addressed and it takes a man with strong balls to do that.

And for all the enemies of the state waiting in the wings to see my country go down, you will all cry blood, even more blood than the ones shed when your incompetent candidates were rejected at various level of the electoral pprocess.

Wicked souls can start praying, fasting, offering sacrifices and keeping night vigils so Nigeria will go down, all your prayers will be thrown back to you barbarians.

God bless President Bola Ahmed Tinubu, GCFR.
God bless Nigeria and patriotic Nigerians.
God bless the 5 geopolitical zones of Nigeria.
May the worst calamity befall all the enemies of Nigeria.

Lol I believe you have a very big problem

I think it's more of serious kind of delusion

Even the so called People you say are praying for the Nation to fail

Are they not undergoing the same challenges every other Nigerian is going through?

If the Nation works
Will it not benefit them also?

So invariably everyone wants the Nation to work

But in your deluded mind, you feel in your own imagination that there are those who doesn't want the Nation to work


Honestly the kind of comments I see on this platform shows the reason this Nation is retrogressing rapidly

It's also scary that many of those at the helm of things in this Nation possess your kind of mindset

It's very scary indeed because this kind of mindset doesn't add any value of any kind

Deceptive talks.

meum:
What a joke! Begging looters to bring out their loot to the mainstream market instead of arresting them!

I keep saying until the penalty for corruption becomes death by hanging, this country isn’t getting any better.

Truth is don’t expect much from this administration with this kind of statement.

You and others criticising the policy don’t comprehend
The government already has some record of those involved in the illegal trade. Therefore, is moving in stages to deal with the crisis

1. The executive order has made it illegal to hoard dollars
2. The government is now appealing to institutions/individuals hoarding dollars to voluntarily release their funds into circulation/ market
3. The final stage is to start clamping down on offenders through the deposit’s help in their various bank accounts

The government can not just move to start arresting people converting their savings from naira to dollars cos it’s within their rights to hedge against inflation. Therefore, by appealing to their sense of patriotism giving due warnings and gathering concrete evidence against those that acquired their dollars illegally has to be done first. I think it’s a good policy to adopt in a crisis. However, can be counterproductive and challenged in court

Lmao. The government is reaching out to thieves, to encourage them to bring out the money they stole to the main market??
Lmao.

dre11:


https://punchng.com/forex-crisis-fg-plans-talks-with-looters-eyes-mop-up-from-hoarders/?amp