Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose (1300 Views)
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| Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 11:53pm On Feb 21 |
When people supports crooks and thieves over competence due to ethnic hatred what we are currently suffering in Nigeria is the end result. I don't know why stabilizing the falling naira is a rocket science for the empty big headed CBN Governor called Cadoso.The man had proven to be as useless as the emolikan that is his boss.Those illiterates saying that they don't need dollars well I don't blame them because when we told them to go to school and learn they refused and choose to turn their region into a head mining region in vain search of wealth while the others choose to do street begging bussiness and shoe sowing bussiness.Jonathan built schools for these fellows but they refused to go to the school. Printing more naira notes isn't the solution to naira problem.Saving the naira is not something extremely complicated all that these criminals need to do is to use the remaining dollar reserves in the CBN and use it to fix the naira exchange rate.for example,if CBN have just 1 billion dollars in the reserves Cadoso should equate all naira in circulation to 200 billion naira and that will give you 200 naira exchange rate for one dollar. EFFECT OF THIS POLICY Let say there is 1.5 trillion naira currently in circulation in the Nigerian economy and the government decides to fix the naira to the dollar at 200 naira to the dollar,the clueless CBN ought to equate the 1.5 trillion naira to 200 billion naira which is 2 billion divided by 1.5 trillion which will give you 0.13.if you had 100,000 naira at the bank your new cash value would be 13000 naira as you see the naira had appreciated and your 13,000 is now equivalent to 100,000 naira you had previously at the bank and excess naira notes in circulation would be reduced and everybody will have the actual value for their money. Printing more naira notes will only make Nigeria naira become extremely useless.If a CBN Governor doesn't know these simple economic basis is explained above then know that the country is crashing right into the middle of the ocean. 3 Likes 2 Shares |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by verybadmouth(m): 11:58pm On Feb 21 |
I have a feeling that you graduated with 1st class in Economics at Cambridge 2 Likes 1 Share |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by Nostring: 12:03am On Feb 22 |
😂😂 |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 12:14am On Feb 22 |
verybadmouth:No I didn't go to any Cambridge. What i stated is just basic economics the dollar value correspond to naira in supply.more naira in circulation only make it useless when traded with the dollar 1 Like 1 Share |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 12:16am On Feb 22 |
Nostring:Why laughing this isn't a funny issue |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by 9jatriot(m): 12:18am On Feb 22 |
Go and consider doing export business and this exchange rate will be like music to your soul. China will give an arm and a leg to have an exchange rate like this. Don't bother to ask me what I am exporting because I am not the one that opened a thread of lamentation. How can 200 million people depend solely on import and shame non de catch us? 2 Likes 1 Share |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 12:48am On Feb 22 |
9jatriot:What are you saying. |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by LordIsaac(m): 2:25am On Feb 22 |
We know. Let’s all go back to our roots! 1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by Godfullsam(m): 2:42am On Feb 22 |
After insulting too major tribes, calling the incompetents and illiterates your analysis and so called 'basic economics' shows you are even worst than an illiterate.  |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by worldclass68(m): 5:55am On Feb 22 |
This ur analysis no follow ooo  1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by HighQue007: 6:25am On Feb 22 |
He said basic Economics. Please show us ur WAEC result. All of you that we know didn’t passed WAEC with special centers, did expo with JAMB suddenly turn financial expert advising a whole Nigeria.. God go save us oo |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by Xox1945(m): 9:07am On Feb 22 |
1$ will be equal 3500 by May 2024 |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 9:58pm On Feb 22 |
Godfullsam: |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 10:00pm On Feb 22 |
HighQue007: What do you know about financial issues Poor hungry agbado eater don watch AIT tire he come think say he sabi economics Since you claim to be the knowledgeable one I dare you to explain to me and others how a fixed exchange rate works in a country Oya prove me wrong Mr so wise |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 10:01pm On Feb 22 |
worldclass68:Can u explain better. I just explained how a fixed exchange rate system works but if you think am wrong please explain it to me and other nairalanders how does the central bank of a country fix an exchange rate.? |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 10:08pm On Feb 22 |
Godfullsam:Poverty stricken zombie on two legs Idiots like you ought to shut up when enlightened people speak. u that cannot even pass waec economics exam and want to spill trash on my thread. Idiot listen to me while holding your two ears. for a country to operate a fixed exchange rate the purchasing currency available must be backed by the dollar reserves of the country that is when u hear one naira to dollar,for every naira there is a dollar in the cbn reserve backing it.nigeria need to operate a fixed exchange rate for now that's the only remedy to the naira and don't you ever argue foolishly with me again from your pounded yam brain Mumu like you that can't even solve simple algebra in maths is trying to figure out how a nation currency economics works Go back to school and start afresh from jss1 1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 10:20pm On Feb 22 |
Dear nairalanders I present these two ignorant agbado loyalists Godfullsam and HighQue007 to everyone of you I explained what a fixed exchange rate system is and the principle behind it and these two riffraffs decided to rubbish my explanations now let's hear both of them what they understand by fixed exchange rate system and why Nigeria needs it urgently Listen to them but it seems that they would run away from this threads due to their high level of illiteracy in their brains 1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by HellVictorinho6(m): 12:09am On Feb 23 |
PaNnamdi: these things aint funny sir even if its 800naira 9163989689 opay  |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by favor914: 12:13am On Feb 23 |
9jatriot:You dey mind that panamdi? Confused Empty Barrel Obidients go just dey run their mouth, like their Oga Chief importer purported Mr Consumption to production Hypocrite. |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by favor914: 12:15am On Feb 23 |
PaNnamdi:Nairaland armchair economist, na poverty dey play tricks on your mind. Go & apply your theory to your life, instead of deceiving yourself on social media. Obidient Joker. 1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by OreMI22: 12:41am On Feb 23 |
Let's face the truth: the economic challenges facing Tinubu during his 8 months in office stem from the economic mismanagement perpetrated by Buhari and his Ministers. In 8 years, Buhari oversaw the printing of N30 trillion Naira, depleted our foreign reserves from 52 billion dollars, and allowed the looting of the NNPC, all while claiming to be the "Petroleum Minister." Ministers like Hadi Sirika and Abubakar Malami looted billions from the state treasury. Shockingly, none of the Hausa/Fulani leaders and clerics, who now criticize Tinubu, raised concerns about Buhari's economic mismanagement! Today, these same northern leaders, who remained silent during Buhari's tenure, are quick to call for protests or military intervention against Tinubu, who has been in office for less than a year! Any Yoruba person who falls for this deception and participates in protests to destabilize Tinubu's government fails to honor the legacy of Oduduwa. Northern leaders should show Tinubu the same patience they showed their northern brother, Buhari
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| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 9:47am On Feb 23 |
favor914:Hungry and fustrated tribalist Am not the cause of your problems deep down you which for my theory to be applied but your slave masters refused and requires you to eat rotten agbado daily Few months from now even bread you nor go see chop 2 Likes |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 9:49am On Feb 23 |
favor914:Oga you don play your bet9ja game today go play am ooo you know say country don hard and as you dey hopeless maybe bet9ja fit change your life oo U fit win 10 million today ooo so hurry up and go play game |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 9:58am On Feb 23 |
OreMI22:Ok sir,You are one of the only sensible persons that had commented so far on this thread but u are still not getting certain areas clear Ok let me speak for myself.as an ibo guy I dont hate tinubu because he is Yoruba but what I hate is the fact that he had chosen to copy buhari clueless economy policies and had chosen to continue on that path. I am not a professor of economics for me to be able to know that Nigeria at its current predicament can't afford to be floating the naira.in the 1980s when china was still emerging they fixed their yuan exchange rate until their economy stabilized and they unpegged it around 2005.i don't know what Cadoso and his team are smoking to make them believe Nigeria can be a production hub overnight and then they just floated the naira carelessly. If i can fix the naira to one dollar based on laid down economics principles what is preventing tinubu and his so called expert team to do that immediately. Well they choose to suffer the masses by playing politics with our lives.hunger go nak everyone soon wether u be Yoruba or igbo |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by Godfullsam(m): 8:27pm On Feb 23 |
PaNnamdi: You better focus on your trade and stop embarrassing yourself here. You think everyone is daft like you? Your written English self is terrible and disgusting. Olodo! |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 8:32pm On Feb 23 |
Godfullsam:Have you eating this evening bro 1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by Godfullsam(m): 8:40pm On Feb 23 |
PaNnamdi: It is eaten not eating. Your English is annoying. You are a disgrace. If you quote me with wrong English again, I will send thunder âš¡ to locate you in that your shop. Poor illiterates claiming financial economists. Olodo! 1 Like |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by PaNnamdi: 2:17am On Feb 24 |
Godfullsam:Hunger never even start to beat you you are here forming English expert By the time hunger deals with you,even rotten agbado sef u nor go see chop I can afford a bag of rice but the question is Can u afford a bag of rice for your family 2 Likes |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by Godfullsam(m): 4:44am On Feb 24 |
PaNnamdi: You be really confirm igbo . Igbos and bragging are inseparable .For your mind laidis, since you can afford a common bag of rice others can not afford it abi .Any way, congratulations for being able to afford a bag of rice . It is a great achievement to you. Don't forget to go and do thanks giving o . While at it, always remember that one man's tithe is another man's salary. Olodo! |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by ElSudani: 5:28am On Feb 24 |
The voodoo economist again! |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by femicyrus(m): 7:15am On Feb 24 |
Economics principles don't work in Nigeria. IMF etc with all their Cambridge economist's advice to Nigeria always plunge us into greater crisis Peg $1 to N1, corruption will still frustrate it into a worst policy decision that will make all Nigerians to suffer hardship while a few will be making billions from it. Allow market forces to determine the rate then corruption will plunge the country into hunger as we can now see. What CBN is doing in my opinion is to ensure currency spectators no longer make profit. The more they increase exchange rate for profit, the more CBN increase/raise the official rate to meet up. Hence no room for round tripping. In the long run, they will be tired of dollar business when it is no longer profitable. But, the consequences of such policy is the resultant inflation and hunger across the country that no one is willing to be patient. Nigerians needed to feed and stay alive first. |
| Re: Tinubu And CBN Governor Want To Crash The Nigerian Economy On Purpose by femicyrus(m): 7:27am On Feb 24 |
Tinubu chose to fight the few corrupt indirectly by punishing everybody. For example: 1. Subsidy removal 2. Floating of the naira The target are now suffering but the masses are the worst of it simply because he failed in ensuring that the consequencial effect of his policies has a workable masses driven palliative to cushion it. 1 Like |
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