We are ready for anything that want to happen at least the worst, we are prepared for it..

I'm so sorry if my question sounds stupid....I do wonder why the news always say Nigeria is borrowing or owing a huge amount of money ....why can't they just print the money in excess to clear the debts or make the budgets?

Brendaniel:






In as much as you guys might hate Emefiele, he is far better than the current handlers of the CBN, I have never supported Emefiele, you can go check my previous posts I have always been against Emefiele, I knew he was causing damages to Nigeria but as at then people like you who support Tinubu were busy in his support because of Tinubu till he started fighting Tinubu.

You guys should be more focused on the current damage going on in the country and not Emefiele, you guys supported his reappointment by Buhari when people like us were shouting for him to be removed, so please stop all these nonsense blame and focus on the current administration that has done worse than Emefiele and you guys are quiet about it.

Back to the topic, I know they will never want the old notes phases out, part of the reason the naira is devalued like this is because of over printing of the naira and using the same over printing to mop up dollars, why won't the naira drop in value?

Some People don't just know how bad this Naira devaluation can get, it can be as bad as people using wheel barrow full of money to go to market to buy goods that will not fill a poly bag, some people dont just know....

Quit this arrogant display of arrogance. You just typed a whole lot of nonsense on a subject you’re not knowledgeable about.

Let me help your ignorance a bit. The naira has not been devalued by the current CBN governor as you erroneously stated. The naira has only been floated which will allow the naira to find its true value due to market forces.

What previous administrations have been doing was to spend about $20 billion annually to defend the naira and it appears like the currency is strong but the economy is weak. Like an urgly lady always wearing makeup to appear beautiful but will that ever make her beautiful? NO.

Using our Foreign Reserves to defend the naira as been done before was simply subsidising imports as people can get dollar cheaply and simply import whatever items they want, toothpicks, matches, toilet papers and whatever. This will never allow or encourage local manufacturers to survive as they are competing with cheap imports gotten from subsidised dollars. Guess why companies keep folding up and closes down?

Now imports will not be cheap again as local production will now be encouraged though that will not happen in one month. There’s no way you have been doing the wrong thing for about 40 years and you expect benefits of the change to happen in a few month. It doesn’t work that way.

Lastly, to help the naira regain value, patronising only items that has local alternatives compared to foreign ones is the way to go.

Peace.

Brendaniel:






In as much as you guys might hate Emefiele, he is far better than the current handlers of the CBN, I have never supported Emefiele, you can go check my previous posts I have always been against Emefiele, I knew he was causing damages to Nigeria but as at then people like you who support Tinubu were busy in his support because of Tinubu till he started fighting Tinubu.

You guys should be more focused on the current damage going on in the country and not Emefiele, you guys supported his reappointment by Buhari when people like us were shouting for him to be removed, so please stop all these nonsense blame and focus on the current administration that has done worse than Emefiele and you guys are quiet about it.

Back to the topic, I know they will never want the old notes phases out, part of the reason the naira is devalued like this is because of over printing of the naira and using the same over printing to mop up dollars, why won't the naira drop in value?

Some People don't just know how bad this Naira devaluation can get, it can be as bad as people using wheel barrow full of money to go to market to buy goods that will not fill a poly bag, some people dont just know....

Your boldened statement says a lot about you. A mew CBN governor that has not spent up to 3months, you are comparing him with someone that spent 10yrs?

Your IQ is lower than that of a toad

Okay .. o.. dx fuel price is too high oo .. pls find something to do about it...

Ijaya123:


Quit this arrogant display of arrogance. You just typed a whole lot of nonsense on a subject you’re not knowledgeable about.

Let me help your ignorance a bit. The naira has not been devalued by the current CBN governor as you erroneously stated. The naira has only been floated which will allow the naira to find its true value due to market forces.

What previous administrations have been doing was to spend about $20 billion annually to defend the naira and it appears like the currency is strong but the economy is weak. Like an urgly lady always wearing makeup to appear beautiful but will that ever make her beautiful? NO.

Using our Foreign Reserves to defend the naira as been done before was simply subsidising imports as people can get dollar cheaply and simply import whatever items they want, toothpicks, matches, toilet papers and whatever. This will never allow or encourage local manufacturers to survive as they are competing with cheap imports gotten from subsidised dollars. Guess why companies keep folding up and closes down?

Now imports will not be cheap again as local production will now be encouraged though that will not happen in one month. There’s no way you have been doing the wrong thing for about 40 years and you expect benefits of the change to happen in a few month. It doesn’t work that way.

Lastly, to help the naira regain value, patronising only items that has local alternatives compared to foreign ones is the way to go.

Peace.

Oga shut up, you just wrote nonsense, so if the naira is being floated and you claim it is good for the economy, then why are local manufacturers you claim were being killed by the pumping of 20 billion dollars annually closing up in droves with your solution of floating, don't you you see that you are countering your self.

On the hand you claimed that patronizing locally made goods will help the naira, please I have a question to ask you.

1. Please can you provide local alternative for me as a Nigerian now for television, phones, hard disks, flash drives,memory cards, chips, IC's, generators, industrial machines and so on, I can go on and on, if you can't then shut up or go and start manufacturing them yourself for me.

I know you will want to say that people should go and start manufacturing them, Oga why haven't you started or you think people don't want to, look as long as the government does not put things in place to encourage manufacturers then it might not be easy for manufacturing companied to thrive,.

You guys just come out to talk anyhow, why do you think even phones like Iphone, infinix tecno which are indigenous companied to their respective countries still produce from China, because it is cheaper, so even if the government still puts things in place it is still not a guaranty that you will produce everything you need in your country.

Not even China does that, that still brings me back to your analysis that people should patronize goods only made in Nigeria, so we should punish ourselves because we want to make our currency strong, see talk Now...

It is just like bringing in rice from Thailand that is cheaper than ofada rice and I have 5 children to feed so I tell my children that I want to make our currency strong so they might to starve some times because I want to avoid buying Thailand imported rice.


You can see how all your analysis are so flawed at this present time.

Thirdly you talked about the inflow of 20 billion dollars annually, the questions you should have been asking is who were the receivers of these monies, where were they been channeled to, the people receiving it were people in government and cronies of people in government not the citizens, they turned it to huge business,

People round tripping the money and then you did not talk about the massive looting that were being done in dollars, that one was among the worst because the money most times were either idle and hidden in houses by politicians or either exported out of the country which did not help the country one bit.

Any dollar loot you hear stolen was not fx profit made from America, it was fx profit made from Nigeria that should have gone into productive use in Nigeria to generate more FX but the money had gone without being profuctive and this happened a lot for more than 8 years and is still happening more even now.

And you expect the naira to gain value. Look let's not deceive ourselves. Tinubu had not tackled the problem of the FX, recently he went to inject billions of dollars into the system same thing you accused Emefiele of and I was just laughing when people said the naira was gaining I knew It will fall back, do you know why?

More FX into the system is not the only solution needed, before you try to get more FX into the system you have to tackle the corruption in the FX system which Tinubu has not done and is not ready to do,

It is like pouring water into a leaking bucket, if you pour water slowly the bucket might never fill up but if you pour water fast into it the bucket might get filled but after a while get empty again because you have not blocked the leaking holes, till you block the leaking holes the bucket will not get filled whether you pour it slow or fast.

But the moment you block it the bucket will get filled whether you pour it slow or fast, the time might only differ depending on the amount of water you are pouring into the bucket.

The bucket hole is corruption, get it taken care of first.

Kilometres:


Your boldened statement says a lot about you. A mew CBN governor that has not spent up to 3months, you are comparing him with someone that spent 10yrs?

Your IQ is lower than that of a toad

A CBN governor that has not spent 3 months that has performed worse than someone who spent 9 years not 10 years...

I think you are reffering to yourself...

Brendaniel:


Oga shut up, you just wrote nonsense, so if the naira is being floated and you claim it is good for the economy, then why are local manufacturers you claim were being killed by the pumping of 20 billion dollars annually closing up in droves with your solution of floating, don't you you see that you are countering your self.

On the hand you claimed that patronizing locally made goods will help the naira, please I have a question to ask you.

1. Please can you provide local alternative for me as a Nigerian now for television, phones, hard disks, flash drives,memory cards, chips, IC's, generators, industrial machines and so on, I can go on and on, if you can't then shut up or go and start manufacturing them yourself for me.

I know you will want to say that people should go and start manufacturing them, Oga why haven't you started or you think people don't want to, look as long as the government does not put things in place to encourage manufacturers then it might not be easy for manufacturing companied to thrive,.

You guys just come out to talk anyhow, why do you think even phones like Iphone, infinix tecno which are indigenous companied to their respective countries still produce from China, because it is cheaper, so even if the government still puts things in place it is still not a guaranty that you will produce everything you need in your country.

Not even China does that, that still brings me back to your analysis that people should patronize goods only made in Nigeria, so we should punish ourselves because we want to make our currency strong, see talk Now...

It is just like bringing in rice from Thailand that is cheaper than ofada rice and I have 5 children to feed so I tell my children that I want to make our currency strong so they might to starve some times because I want to avoid buying Thailand imported rice.


You can see how all your analysis are so flawed at this present time.

Thirdly you talked about the inflow of 20 billion dollars annually, the questions you should have been asking is who were the receivers of these monies, where were they been channeled to, the people receiving it were people in government and cronies of people in government not the citizens, they turned it to huge business,

People round tripping the money and then you did not talk about the massive looting that were being done in dollars, that one was among the worst because the money most times were either idle and hidden in houses by politicians or either exported out of the country which did not help the country one bit.

Any dollar loot you hear stolen was not fx profit made from America, it was fx profit made from Nigeria that should have gone into productive use in Nigeria to generate more FX but the money had gone without being profuctive and this happened a lot for more than 8 years and is still happening more even now.

And you expect the naira to gain value. Look let's not deceive ourselves. Tinubu had not tackled the problem of the FX, recently he went to inject billions of dollars into the system same thing you accused Emefiele of and I was just laughing when people said the naira was gaining I knew It will fall back, do you know why?

More FX into the system is not the only solution needed, before you try to get more FX into the system you have to tackle the corruption in the FX system which Tinubu has not done and is not ready to do,

It is like pouring water into a leaking bucket, if you pour water slowly the bucket might never fill up but if you pour water fast into it the bucket might get filled but after a while get empty again because you have not blocked the leaking holes, till you block the leaking holes the bucket will not get filled whether you pour it slow or fast.

But the moment you block it the bucket will get filled whether you pour it slow or fast, the time might only differ depending on the amount of water you are pouring into the bucket.

The bucket hole is corruption, get it taken care of first.

Don’t read to respond. Read to understand.

Now go back and read more slowly, without emotion.

Ijaya123:


Don’t read to respond. Read to understand.

Now go back and read more slowly, without emotion.

Oga shut up, counter me with facts as I have done, you guys keep churning out nonsense analysis championed by the people you support and look where the country is and is still going, to still prove my points go to front page or read it here, the naira has started falling back and might keep falling, you guys keep supporting rubbish because of tribe, religious or party affiliation, Sometimes I feel so ashamed sharing country with people like you....

https://www.nairaland.com/7905233/naira-shrinks-n1135-parallel-market

tuoyoojo:
So money spent to print new notes were a complete waste

Emefiele was probably selling the new notes to forex traders for a side hustle profit. Grand scale 419. 🤫
You notice he didn't carry a holy book around with him since he had that job all those years?

Scam government

The previous and present

RichAbujaGuy:


Emefiele was probably selling the new notes to forex traders for a side hustle profit. Grand scale 419. 🤫
You notice he didn't carry a holy book around with him since he had that job all those years?

These crooks are good at playing to the gallery. I was repulsed when I saw him carrying a big bible. I am happy that Nigerians didn't buy that stunt.

When it comes to corruption everyone is united but when it comes to its repercussions, u would start seeing them acting up

Tell u what, after this saga, he would receive a hero's welcome in him hometown. That's Nigeria for you

Good reassurance

BUHARI AND HIS STUPIDY...

every thing the hegoat did was rubbish