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Nairaland Forum / Nairaland / General / Politics / How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun (7852 Views)
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Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Triangles1(m): 1:10pm On Dec 13, 2023 |
I'm lost here. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by yemmit90: 1:10pm On Dec 13, 2023 |
Can't this man just do the work and stop explaining to us. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Blaze14k: 1:13pm On Dec 13, 2023 |
erniok: Wait do you genuinely believe in what u just said now. In this present Nigeria? It's only a foolish person that would listen to that. First of all let tinubu take the dollar he has stored in his house to the bank. 2 Likes |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by sulaak(m): 1:14pm On Dec 13, 2023 |
BennyDGreat: That the only solution, but how do you transform a unproductive country into a productive society. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Appletek: 1:14pm On Dec 13, 2023 |
OloYeOfEgbE: First rescue your mothers hiding under the bed every monday. 1 Like 1 Share |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Iamzik: 1:16pm On Dec 13, 2023 |
erniok: And to actually believe this? 😂😂 |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by NzogbuNzogbu: 1:17pm On Dec 13, 2023 |
erniok:a currency that is not your country currency and you have limits to, you think it would be easy to just peg demand irrespective of whether your currency is sinking against it Is it same govt that don't even have enough forex |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by erniok(m): 1:18pm On Dec 13, 2023 |
lexy2014: From the post, people who are hoarding the dollars and citizens outside the shores of the country who are afraid of losing the value of their money due to exchange rate issues. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by OloYeOfEgbE: 1:19pm On Dec 13, 2023 |
Appletek: You can never understand what it means to die for a cause.. Don't be unfortunate and a slave..its bad
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Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by erniok(m): 1:20pm On Dec 13, 2023 |
Iamzik: Blaze14k: He said they are working on it. Let's see how they want to sell it to the public but if it works, it'd be a brilliant idea. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by frog12: 1:20pm On Dec 13, 2023 |
this MINISTER dey make me LAUGH. so after that, then they go LAVISH the money on FRIVOLITIES 2 Likes |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by CSTRR: 1:21pm On Dec 13, 2023 |
Who is he telling? |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by frog12: 1:22pm On Dec 13, 2023 |
these people should go after CORRUPT people. no be former NNPC MD Yakubu Andrew we hide 9 million DOLLARS for inside septic tank? 1 Like |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by erniok(m): 1:22pm On Dec 13, 2023 |
NzogbuNzogbu:Bro, it's still work in progress. Let's see the modalities of the executive order before we can criticize it. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Appletek: 1:29pm On Dec 13, 2023 |
OloYeOfEgbE:
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Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Greenfusion: 1:32pm On Dec 13, 2023 |
HelloWhatsup:e go direct tire .. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by BJanta: 1:33pm On Dec 13, 2023 |
RepoMan007: This is just policy statement. Have you seen the modalities?You always find disasters where fools pretend to be wise. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Esinwaju: 1:41pm On Dec 13, 2023 |
OloYeOfEgbE:There is nothing inspiring about death that does not lead to victory you traumatized captive...and that picture you put up there has been busted several times even here on nairaland. How come google has no other references apart the from the ones from posted by "Eziokwu"? Clown. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Iamzik: 1:50pm On Dec 13, 2023 |
erniok: Baba I no fit drop wad of dollar to collect paper from Nigeria government. I no fit shout biko |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by erniok(m): 2:03pm On Dec 13, 2023 |
Iamzik:People who buy t-bills nko. Make we wait first. Person say im mama soup sweet pass na until you taste am first abi no be so? |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by soil4soil(m): 2:10pm On Dec 13, 2023 |
We don't want to know how just do something now and quick reason you are the minister |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Iamzik: 2:11pm On Dec 13, 2023 |
erniok: Tbill is in naira. They can print as much as they want. Repeat I won't drop dollar to collect piece of paper from Nigeria government. I don't trust the government after how they have managed the economy in the last 8 years 2 Likes |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by RepoMan007: 2:30pm On Dec 13, 2023 |
erniok:The equivalent of that already exists. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by IbeOkehie: 2:33pm On Dec 13, 2023 |
BennyDGreat: Will government still remain in control of the value of the naira as part of this plan? Will there still be a CBN rate, IFEX rate and parallel market rate? Curious about your thinking. erniok: Nobody is afraid of the dollar losing value. NAIRA is the currency being decimated by inflation. In short, let's say it bluntly - this is an attempt to seize dollars from Nigerians. Anyone that deposits dollars and takes that "instrument" or whatever, is NEVER going to get their dollars back. This has happened in Argentina, Lebanon, Zimbabwe and Venezuela. It's the USUAL step taken by bankrupt governments to steal from their people. This guy is a former investment banker, right? How can he prescribe something like this? Alarm bells should be ringing, it's a very bad sign of things to come. Iamzik: And I thought it was just crazy thoughts on my part. Glad to read some sense here. Cheers. 1 Like |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by grandstar(m): 2:41pm On Dec 13, 2023 |
Whatever economic policies and programs the government is proposing will have limited benefits as long as the CBN remains dovish in regards to high inflation. There will be excess demand for any forex that enters the system. With inflation expected to "steady" at 21.4% in the 2024 fiscal year, this is a poor foundation for an economy. For one, it means the local currency would continue to depreciate A depreciating currency means that a it would become increasingly costly to subsidize petrol and electricity, the latter is even more damaging considering the nation generates about 6,000 MW for a nation of 220m people. 2 Likes 1 Share |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Lawalemi(m): 2:44pm On Dec 13, 2023 |
Stories. |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Iamzik: 2:50pm On Dec 13, 2023 |
IbeOkehie: Good to see someone thinking clearly bro!! Most Nigerians have short memories. I have learnt to do the exact opposite of whatever the "economy experts" say. Remember when CBN said that naira will not be devalued in 2019? Many people lost their investment because they trusted government and failed to hedge their funds in USD ? There's hardly any government in the world that truly acts in the best interest of citizens when it comes to money... Especially Nigeria! 2 Likes |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by ambale(m): 2:59pm On Dec 13, 2023 |
erniok: First and foremost, the government needs to be sincere with themselves and their citizens So many mistrust and it makes any policy succeed even if it's the right one Isn't it obvious that the populace and the government are on different divides I wonder how we want to succeed sha |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by Blaze14k: 3:00pm On Dec 13, 2023 |
erniok: Well goodluck to him and the people that will deposit there dollar. If my dollar wont yield interest while it's in the bank forget it. I want to ask why is tinubu so focused on the exchange rate, does it mean he is not interested in local production? |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by lexy2014: 3:12pm On Dec 13, 2023 |
erniok:who are those people? |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by goody234: 3:58pm On Dec 13, 2023 |
You thieving politicians are hoarding the dollars and pounds as stolen loot with your money mules all over the country ..using corrupt bankers to launder the money and buy houses abroad ...Anyone with dollars or pounds do not deposit into your domicile acct you will not see that money again o |
Re: How To Shore Up Nigeria’s Foreign Exchange, By Finance Minister Edun by erniok(m): 4:14pm On Dec 13, 2023 |
Blaze14k: I think local production is still on the table. Pls bear in mind I'm not holding brief for him but based on the thread. The machineries and spare parts will be imported and that is where fx comes in. |
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