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Senate To CBN, Ministers: Your Policies Are Failing - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Senate To CBN, Ministers: Your Policies Are Failing (15017 Views)

Your Policies Will Destroy Nigeria If Not Revised – Ahmad Gumi Warns Tinubu / Subsidy: Your Policies Inflicting Hardship On Nigerians, CAN Tackles Tinubu / Your Policies Hurting Ordinary Nigerians, Atiku Tells CBN (2) (3) (4)

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Re: Senate To CBN, Ministers: Your Policies Are Failing by Morbeta11(m): 12:46pm On Feb 10
Brendaniel:
So the blame game has started, they are Now blaming each other....


This is how they built Lagos in seven days.....

2 Likes

Re: Senate To CBN, Ministers: Your Policies Are Failing by gaskiyamagana: 12:46pm On Feb 10
IfnobeGod20:

When we told them the day he removed the subsidy that the attendant repercussions is better imagined than reality but today the reality has done on us and the repercussions are enormous and frightened, hunger, deprivation, penury and excruciating poverty.
My problem with some of his supporters is, they tend to compare a developed system with a crawling country like Nigeria. Forgetting that what will work in a developed system, won't work in a crawling country like ours. This IMF policies handed over to us through Tinubu that he buy in, is anti people and not working. In the next one month of something drastic is not done, there may be revolution because the hunger will be too much and people will be pushed to the wall of no return.
What many people don't know about IMF is that America using them in proxy to destroy any nation with potential greatness.

1 Like

Re: Senate To CBN, Ministers: Your Policies Are Failing by ABC101FF: 12:46pm On Feb 10
Y'all

Re: Senate To CBN, Ministers: Your Policies Are Failing by RingRoadCartel: 12:46pm On Feb 10
Faiththatworks:
I applaud the Nigerian Senate to being bold in Telling Mr President through his Finance team that things are very very difficult for the Masses in Nigeria.
This is not the time to sugarcoat what's happening in Nigeria but I believe even the Senators are guilty of the same crime they are accusing the president and his team of.
They accused the Finance team of being incapable of solving the problem of dollar liquidity in Nigeria,but these same Senators and House of Representatives bought vehicles worth 80 billion naira just last year, I'm very very sure all that money didn't stay in the Economy but was changed to Usd and sent to Japan,the Headquarters of Toyota.
They would have helped defend the Naira by buying their cars from Innoson or other local manufactures of Cars in Nigeria.
I hope they pass a bill tomorrow making it mandatory for all federal agencies to purchase cars and trucks from only Nigeria Manufacturers.
Another point I got from their interaction was that of Farmers not being able to go back to their Farms, although I don't know how that's a problem of the president Finance team,but I believe the National Assembly can do something historic in these very very Hard times in Nigeria.
They should forgot their ethnic, religious and pseudo nationalist leanings and use the occasion of these very hard Times to PASs A BILL ALLOWING STATES AND LOCAL GOVERNMENT TO ESTABLISH THEIR OWN POLICE OR SECURITY OUTFITS,sorry for the capslock.
This is the right time to finally decentralize the Nigerian police, if the senators are complaining that some places in Nigeria are insecure and we all know the security forces are overstretched,why not use this opportunity to allow the people defend themselves.
It's time for us to start proffering hard solutions to the problems of Nigeria,it's time for us to start today, Nigeria can't afford to wait an extra day.
God bless Nigeria.

You will soon learn. Those that came before you have all bowed their heads in shame. You will learn that patriotism is not about ass-licking any individual in power but about service to your country. You will learn.

1 Like

Re: Senate To CBN, Ministers: Your Policies Are Failing by IfnobeGod20: 12:48pm On Feb 10
Inspirer1:

I don't think at this rate I can continue to suppprt such, if we all want to be sincere with ourselves as a supporter or not, hardship has really really increased since the first minute Tinubu assumed power as the President, initially I was like it will get better BUT after 9 months its from bad to worse and tending towards worst,,,,
I may not really be feeling it, but millions of people are experiencing pain, fear (kidnapping), hunger, hardship, that's the angle I wish all Tinubu supporters will look at this whole thing from, consider several millions who are suffering since that moment he said "subsidy is gone" AND till now no ease at all...
I don't just know how some people are wired that you will see evil or bad happening and still be giving support for it and to it. Everyday things are getting worse and his supporters tend to turn blind eye unto it as if they are not seeing it.
Funnily, I was once a supporter of Buhari but before the end of his first term when I saw how things are going, I dissociate myself and stood at the side of the people. But some people it is very difficult for them to stay at the side of the people.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Calitoscassius(m): 12:49pm On Feb 10
Now they are blaming themselves? Good! grin grin grin grin

Tifnubu and his Padi padi government, idiats who are not qualified for the jobs are being appointed just because they are Tifnubus friends and families.


This corrupt government will implode soon.

1 Like

Re: Senate To CBN, Ministers: Your Policies Are Failing by Tonim(f): 12:49pm On Feb 10
During the last eight years (last administration), weren’t these issues
present?

Why didn’t these senators speak up before now?

Northern herders killed all over the
country; why didn’t you speak up
then like you are speaking now
Senator Sani Musa?

1 Like 1 Share

Re: Senate To CBN, Ministers: Your Policies Are Failing by Johnjustice: 12:52pm On Feb 10
Tinubu must take critical measures to protect the naira.
1) Discourage buying of luxury imported goods by taxing them heavily, goods like luxury cars, luxury jeweleries and such goods imported from abroad.
2) Boost local agriculture and manufacturing, the government must invest in manufacturing, either by using professionals to run it, concession etc..but government investment is important in our agriculture to ensure food security, job creation and for mobilizing of our economy.
3) Our currency the naira, is called legal tender, for a reason, it is the only legal means of exchange, federal government should pronounce the ban of use of dollars in Nigeria, ban payment of salaries in dollars inside Nigeria, close domiciliary accounts exceeding 1000usd, unless the account holder is a licensed importer.
4) We must stop importing all the cash and food crops we can produce, government should take this measures to reduce our demand for dollars, because the more we demand for dollars, the more dollars rise.

Tinubu take critical measures now, the country is in a tipping point, all because dollar use and demand in Nigeria, has rendered our naira useless.

You can't spend naira in UK, and America, you can only change it in financial institutions.
Re: Senate To CBN, Ministers: Your Policies Are Failing by kunkelhanspeter(m): 12:52pm On Feb 10
The verdict was handed down by the Nigerian Senate to the Economic Management Team of the Federal Government, including Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso; Minister of Agriculture, Sen. Abubakar Kyari; Minister of Finance, Wale Edun; Minister of Budget and National Planning, Abubakar Bagudu and Minister of State for Agriculture, Sen. Alyiu Abullahi Sabi.

Putting your tribal men there without experience will never work, OBJ said it when he was the president Igbos was in charge of CBN and Mins of Finance and some of his kinsmen were very angry 😡 at him why he left Igbos in charge of the finance. The economy was okay then since APC decided to use they kinsmen instead of people who can do the job well.
Look at where we are today, doing try and luck with our economy.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Ckonnet: 12:57pm On Feb 10
The same idiots that rubber stamped a patch patch cv holder.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Okwyjesus(m): 12:58pm On Feb 10
gaby:
Elementary school home Economics teachers heading a country's economic team and monetary policies.

That's the price of bigotry in politics.

Open hand and pick best brains and stop this my tribe my tribe appointment in sensitive economic areas

- 0ya guity souls should quote me
Re: Senate To CBN, Ministers: Your Policies Are Failing by Emman08: 1:03pm On Feb 10
"How much foreign exchange do we pay for Toyota vehicles"

The CBN governor is clueless but Imagine a Senator saying this. Where was he when they were importing brand new cars with billions of Naira? Wtf is this hypocrisy?

1 Like 1 Share

Re: Senate To CBN, Ministers: Your Policies Are Failing by Dshocker(m): 1:09pm On Feb 10
Tinubu needs 100 strokes of cane
Re: Senate To CBN, Ministers: Your Policies Are Failing by arantess: 1:13pm On Feb 10
Emman08:
"How much foreign exchange do we pay for Toyota vehicles"

The CBN governor is clueless but Imagine a Senator saying this. Where was he when they were importing brand new cars with billions of Naira? Wtf is this hypocrisy?
Nigeria is what a country should not be

1 Like

Re: Senate To CBN, Ministers: Your Policies Are Failing by Emman08: 1:16pm On Feb 10
arantess:

Nigeria is what a country should not be

Absolutely
Re: Senate To CBN, Ministers: Your Policies Are Failing by Urgent1Million: 1:31pm On Feb 10
I wish there's a solution in sight but sadly, there's not.
As long as we keep importing things, travelling out for education and medical tourism, the demand for for FX will continue to rise and weaken the local currency.
I wonder why people keep making noise about this FX thing as if it's rocket science.
The solution is simple and It'll take Tinubu less than two months for Nigerians to begin to see the results.
1. Flush killer herdsmen out of the farms and let farmers returns to their farms to produce food. This will require a direct political confrontation with the northern oligarchs and power brokers; and a drastic reformation of the terms of reference of the security agencies which may require the replacement of the NSA with someone not sympathetic to the killer herdsmen.
2. Issue an executive order that makes consumption of local content compulsory for all government officials. The masses will dare not try to disobey that order when government itself is consuming made in Nigeria products. All government officials, elected or appointed must patronize health facilities in Nigeria and their children must attend Nigerian universities.
It's either they comply or resign. If found disobeying the order while still serving in government, they should be arrested, tried and dismissed from office and jailed for economic sabotage.
3. Any foreign brand that wants to sell to Nigeria must establish a production or storage facility in Nigeria and at the firm's expense.
4. Ban the importation of any product that has a local alternative. Offenders should be prosecuted and jailed 5 to 10 years for willful economic sabotage.

But Tinubu must be willing to sacrifice his 2nd term agenda to save Nigeria!
Re: Senate To CBN, Ministers: Your Policies Are Failing by Excellentmind: 1:32pm On Feb 10
Governor of CBN doesn't know what to do, but only applying hearsay to be seen doing something to justify his appointment. Until he is thrown out, he will continue to devalue Naira.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Cooky007(m): 1:50pm On Feb 10
Clueless government
Re: Senate To CBN, Ministers: Your Policies Are Failing by Faiththatworks(m): 1:52pm On Feb 10
Where did I lick ass in my submission,I proffered solutions to the problems of Nigeria and you are talking about how people before me have bowed.
You should be ashamed of yourself,should we all bow and accept that Nigeria is irredeemable.
I refuse to be in that circle that will give up on Nigeria,I have no other country except Nigeria and I will never be shut down despite the hardship in the Land.
This is the time to make hard decisions to change the country and I will not submit to the deafening noise around.
Suggest how Nigeria will move out of this quagmire instead of being a pessimist.
God bless Nigeria.




RingRoadCartel:


You will soon learn. Those that came before you have all bowed their heads in shame. You will learn that patriotism is not about ass-licking any individual in power but about service to your country. You will learn.
Re: Senate To CBN, Ministers: Your Policies Are Failing by skj1377(m): 1:58pm On Feb 10
Good people are speaking up. Tinubu will soon get the message. His experiment is disastrous. Time to retrace steps
Re: Senate To CBN, Ministers: Your Policies Are Failing by IfnobeGod20: 2:36pm On Feb 10
Johnjustice:
Tinubu must take critical measures to protect the naira.
1) Discourage buying of luxury imported goods by taxing them heavily, goods like luxury cars, luxury jeweleries and such goods imported from abroad.
2) Boost local agriculture and manufacturing, the government must invest in manufacturing, either by using professionals to run it, concession etc..but government investment is important in our agriculture to ensure food security, job creation and for mobilizing of our economy.
3) Our currency the naira, is called legal tender, for a reason, it is the only legal means of exchange, federal government should pronounce the ban of use of dollars in Nigeria, ban payment of salaries in dollars inside Nigeria, close domiciliary accounts exceeding 1000usd, unless the account holder is a licensed importer.
4) We must stop importing all the cash and food crops we can produce, government should take this measures to reduce our demand for dollars, because the more we demand for dollars, the more dollars rise.

Tinubu take critical measures now, the country is in a tipping point, all because dollar use and demand in Nigeria, has rendered our naira useless.

You can't spend naira in UK, and America, you can only change it in financial institutions.
1. You can only ban what you're producing or what is illegal. Jewelry is not contraband item. The country doesn't also produce car but assemble them. If you're suggesting ban on luxury cars, you're invariably saying all car parts brought to country for assembling should be banned. I accept that all goods produced in the country with high competitiveness should be banned but not the one with no competitiveness.
2. No doubt there is no substitute to investment in agriculture. This will surely increase our employment radar and boost the economy.
3. It's another good idea. The use of dollar as legal tender should be discouraged many countries do that just to strengthen their currency. We rely heavily too much on dollars in this country and that is why our currency doesn't have value anymore. Even in parties you see Nigerians spraying dollars, please for what?
4. Before government can do this, government must have invested heavily in agriculture as to be able to meet people's needs as not to create scarcity of produce. As it is now, the country has not taken advantage of her arable lands for food sufficiency. Every tier of government, local, state and federal should invest heavily in agriculture. It was once our main stay, until oil took it from us. We need to go back to agriculture and save ourselves this mess of over dependent on foreign products. The lands are there. The human powers are there. The technical know how is there. We just need the political will to break the jinx and liberate the country from over dependent on oil.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Angrymode: 2:42pm On Feb 10
gaby:
Elementary school home Economics teachers heading a country's economic team and monetary policies.

Are you forgetting that in Nigeria, sound economic graduates are the ones forced to teach Home Economics in elementary school due to lack of reasonable jobs in order to just survive. Please stop comparing those yam heads that got to where they are purely on man know man bases with good elementary school teachers.
Re: Senate To CBN, Ministers: Your Policies Are Failing by gaby(m): 2:46pm On Feb 10
Angrymode:


Are you forgetting that in Nigeria, sound economic graduates are the ones forced to teach Home Economics in elementary school due to lack of reasonable jobs in order to just survive. Please stop comparing those yam heads that got to where they are purely on man know man bases with good elementary school teachers.

Abeg no vex jare
Re: Senate To CBN, Ministers: Your Policies Are Failing by Anatolia: 2:58pm On Feb 10
That Cardoso na empty head.
Re: Senate To CBN, Ministers: Your Policies Are Failing by sterlingD(m): 3:04pm On Feb 10
I have wondered where are our legislators and what are they doing.That brings me to the question how do these guys sleep well and peaceful at night while the populace they have sworn oath to represent are going through economic hardship.
Re: Senate To CBN, Ministers: Your Policies Are Failing by ade4real2016: 4:03pm On Feb 10
This is not straight enough...Ya guys need to call a spade a spade...Direct this condemnation to ya so called Mr President Tinubu...He vouched for them to be d best he has ever tried severally over d years of being together...Stop being sentimental n timid....
Re: Senate To CBN, Ministers: Your Policies Are Failing by RingRoadCartel: 4:27pm On Feb 10
Faiththatworks:
Where did I lick ass in my submission,I proffered solutions to the problems of Nigeria and you are talking about how people before me have bowed.
You should be ashamed of yourself,should we all bow and accept that Nigeria is irredeemable.
I refuse to be in that circle that will give up on Nigeria,I have no other country except Nigeria and I will never be shut down despite the hardship in the Land.
This is the time to make hard decisions to change the country and I will not submit to the deafening noise around.
Suggest how Nigeria will move out of this quagmire instead of being a pessimist.
God bless Nigeria.




K
Re: Senate To CBN, Ministers: Your Policies Are Failing by Johnjustice: 6:37pm On Feb 10
IfnobeGod20:

1. You can only ban what you're producing or what is illegal. Jewelry is not contraband item. The country doesn't also produce car but assemble them. If you're suggesting ban on luxury cars, you're invariably saying all car parts brought to country for assembling should be banned. I accept that all goods produced in the country with high competitiveness should be banned but not the one with no competitiveness.
2. No doubt there is no substitute to investment in agriculture. This will surely increase our employment radar and boost the economy.
3. It's another good idea. The use of dollar as legal tender should be discouraged many countries do that just to strengthen their currency. We rely heavily too much on dollars in this country and that is why our currency doesn't have value anymore. Even in parties you see Nigerians spraying dollars, please for what?
4. Before government can do this, government must have invested heavily in agriculture as to be able to meet people's needs as not to create scarcity of produce. As it is now, the country has not taken advantage of her arable lands for food sufficiency. Every tier of government, local, state and federal should invest heavily in agriculture. It was once our main stay, until oil took it from us. We need to go back to agriculture and save ourselves this mess of over dependent on foreign products. The lands are there. The human powers are there. The technical know how is there. We just need the political will to break the jinx and liberate the country from over dependent on oil.
I didn't use the word ban, I said tax them heavily, like they do in UK etc, concentrate more taxes in luxury items, items that we will require huge amounts of dollars to buy, items that have no economical value, for the value our currency got it for.

There is a reason why UK government tax you I'd you have multiple vehicles, you pay ground tax etc on them, all these is to discourage capital flight, we need to retain our wealth here, strengthen our currency.
Re: Senate To CBN, Ministers: Your Policies Are Failing by killsmith(f): 6:41pm On Feb 10
Cardoso is not qualified to manage a small microfinance bank.
Tinubu should resign.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Growing(m): 6:41pm On Feb 10
The senate is also part of the reason why the policies are not working.
Re: Senate To CBN, Ministers: Your Policies Are Failing by Tareq1105: 7:12pm On Feb 10
Nigeria will be great again under Tinubu administration.

Senators have no moral rights to talk. When they were supposed to buy their official cars locally with Naira from innoson motors, they chose to buy from outside the economy with Dollars.

So how would CBN policy work?
Re: Senate To CBN, Ministers: Your Policies Are Failing by 927adekola: 7:19pm On Feb 10
Failing woefully oFailing woefully o...

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