Emailed statement from CBN.

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

Isnt crazy when business are parking out of Nigeria, and they busy looking for investors to come into the country to invest, what have they done to float business in the country, small small business are liquidating as lot are force into poverty. I don't understand

ufotunang:
Until when I see the prices of foodstuffs, goods and services been cheap and easily affordable for nigerians and no inflation and bussinesses companies industries are thriving and jobs are now more available for the youths and nigerians and poverty hunger hardship has reduced to a minimal level and nigerians living a better life and standard of living that is when I will believe the economic policies and reforms are working and producing positive results on the economy and country...but for now I cannot see all these things

Lol. Prices of goods won't come down. Not now. Not in the foreseeable future unless BAT and Cardi B reverse fuel prices.

I don't know who convinced Bloomberg for this propaganda, but what happened is quite simple. The CBN increased interest rates a few weeks ago.

As a consequence of the increased interest rate, Treasury Bills rates (and the likes) increased from about 10% to 21%. A 21% interest rate on your investment is a good deal anywhere in the world. So, unsurprisingly, many Nigerians (including those both home and abroad) invested their idle funds in Treasury Bills. Priority was given to those abroad since they have more dollars to spare.

But here is the bad news. Every single penny they collected in Treasury Bills will be paid back in 12 months. While it is an investment to those who invested; it is nothing but a loan to the government. Not just a loan, the government will pay back every penny! Those who brought their dollars won't leave with Naira. They'll convert their monies back to the default currency in 12 months' time.

If Cardi B and BAT fail to make reasonable gains from monies invested in Treasury Bills after 12 months, every kobo will be paid back by printing more Naira notes (like Buhari did a few years back).

This is everything about the report from Bloomberg. Don't let any BATist lie to you. They did more hallelujah chanting to Buhari's policies, remember??

mariahAngel:


How can one deny what is evident? Works/results speak for themselves.
I challenge Tinubu to make that happen.

Thank you Mariah.

These guys know the truth, but they want to make us look like fools by spreading lies and expecting us to swallow everything.

When tinubu starts working, the results will speak for themselves.

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

according to you "the reforms are paying off" and yet you say "It may appear little with minimal impact for now".

how is a reform that appears with "minimal impact" be paying off?

can you explain how these so called reforms are responsible for the "billions pouring into Nigeria"?

have billions never poured into Nigeria before?

how have these "billions pouring into Nigeria" right improved living standards, reduced inflation, reduced insecurity, provided employment and drastically tackled corruption?

49cents:


Hope is. not a strategy

While hope may not serve as a concrete strategy, it acts as the foundation for strategy development, guiding individuals to formulate plans aimed at achieving potential outcomes.

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

For your street ba....?!

ElSudani:


I like to know where you got your own Economics degree from.

Amazing. So you really need it explained to you, that if you buy everything in dollars (you import everything) and if those dollars become more and more expensive (devaluation) you will suffer a vicious cycle including uncontrollable inflation? Because you will need more and more of your currency to buy everything you need?

Amazing.

One must be careful of anonymous fora. One might not know when one is butting heads with nincompoops.

seunmsg:


Can you haters stop talking nonsense? Diaspora remittance is a major source of forex earning for Nigeria and sadly, it has been dwindling over the years. Under Buhari, Emefiele even started offering Nigerians in diaspora extra N5 for every dollar remitted yet, the response wasn’t so good. People in recent times preferred sending money to relatives at home through crypto and fintechs outside banking control.

Now that there is significant improvement, it means confidence is returning to the system. It is a good indication that the reforms are working. Only senseless and irredeemable haters will attribute this to suffering. People remit money home from all over the world. It has nothing to do with the high cost of living all over the world.

Nope your analysis is totally wrong. Emefiele was offering extra because they needed the funds to flow through the central Bank via regulated financial sector, however since crypto currency has been banned and exchange rate basically remains the same there's no point sending FX home through other means cos rate is basically the same. The only reason it has increased is because majority of nigerian working class japa between 22022& 2023. That huge crowd is sending funds back home to sustain loved ones suffering the ebin pawa economy. Nothing to celebrate here. Pls advice tinubu to come out with real policies that will affect the common man on the street. Thanks

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

You wish

Na statistics we go chop? He said it and so we will wait and see , I hope it is true so that cost of living can coke down

Let prices start falling first otherwise na cruise.

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

That's all our prayers. Who bad belle elp self?

The main reason for the surge is because usd is too high , needless of them keeping it when they know is profiting. Check around most people doing building construction today are most foreign based. So it is not an achievement. Let me teii Tinubu and apc pls avoid propaganda, sychofany, Nigerians are too old for that asap

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

I am ashamed of you seunmsg

If this is not propaganda, what else is it

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

Ok show us the little way the reforms is paying? Not a big one just one tiny way the reforms has paid

seunmsg:


https://www.bloomberg.com/news/articles/2024-03-08/billions-pour-into-nigeria-as-tinubu-s-reforms-start-to-pay-off

From Bloomberg to the journalist that wrote this to the paid sponsor to the gullible ones that will rejoice at this nonsense post, all of you are d*ft!
When they disclose where the fantasy money came from and what sector of the economy it's meant to be faithfully utilized, I'll tall yall clo*n seriously.
A**hol*s the lot of you!!!

seunmsg:


This is no propaganda as Bloomberg is not a propaganda platform like AriseTV and People’s Gazette.

Slowly, the reforms are paying off. It may appear little with minimal impact for now but in no time, the impact will be felt in all aspect of the economy. We just need to be patient and endure for a while, Mr. President will fix the economy.

This is clearly propaganda. In as much as I have hopes that Tinubu will fix stuff…

Yes money will flow in mainly because naira got cheaper. Cheaper to buy assets now. It’s common sense. They are only taking advantage of the situation not like anything is improving YET. Maybe later but not yet.

BobbieZion:
Funny statistics.
All this big big terms have not changed anything positive.

Let the change be felt directly on the economy.
Not all this propaganda useless moves.

Same thing they did for good 8 years under Buhari telling us to be patient that the reforms will be positive, only for it to go down the drain beyond imagination.

Try & add value to your life.

Brash7:



You must be very naive to ask for evidence. Support your drug pusher and don't try to gaslight others to join you in licking his butt.

He is a criminal. He is a failure. He is a disaster.
Nothing will ever change that. I know that no matter how he fails, you guys will still find a way to whitewash him.

Same way you want us to hail him for bringing down the dollar rate to 1500 even when he met it at 400+.

If this is not slavery and Stockholm syndrome, I don't know what it is.

Yeah, ipobidient spotted. Imagine the level of lamentations going on because the news is not about people looting warehouses.

Brash7:


Thank you Mariah.

These guys know the truth, but they want to make us look like fools by spreading lies and expecting us to swallow everything.

When tinubu starts working, the results will speak for themselves.

if you say "When tinubu starts working", pls what has he been doing all this while?

are you saying Tinubu has been doing absolutely nothing in the last 10months?

Okoroawusa:
I Love Bola Ahmed Tinubu

Do you know that his administration is secretly paying trillions for subsidy monthly

sunboy:


This is clearly propaganda. In as much as I have hopes that Tinubu will fix stuff…

Yes money will flow in mainly because naira got cheaper. Cheaper to buy assets now. It’s common sense. They are only taking advantage of the situation not like anything is improving YET. Maybe later but not yet.

how do you hope that Tinubu will fix things?

who destroyed what you are expecting him to fix?

WE PRAY IT CONTINUES TO GET BETTER IFSHA.

ElSudani:


You must have been living under a rock not to know the frenetic pace at which the president and his team are canvassing all over the place for foreign investors to come to Nigeria.

That stuff is good for the media. I do t think any Serious government travels to other countries to look for investor's where his country people can barely go to farm. Like I said, it's good for the media and good for posterity (personal)and that's where the big money is, for those who want to steal money. Buhari did it for 8yrs, where did that take us to ?
Fire cant be burning in your backyard while u go abroad to look for people to come and live with you.
Anyone who is coming to invest in Nigeria now is either a criminal who knows how to be repatriate his money back in the most crude way or another scammer like Nigeria Air way deal.
Like I said , Nigeria badly needs a leader who can look inwards and face situations face to face. Not a leader who speaks through foreign media and cant have a media chat without it being manipulated.

Boo3nity:


From Bloomberg to the journalist that wrote this to the paid sponsor to the gullible ones that will rejoice at this nonsense post, all of you are d*ft!
When they disclose where the fantasy money came from and what sector of the economy it's meant to be faithfully utilized, I'll tall yall clo*n seriously.
A**hol*s the lot of you!!!

Even if $80 billion enters Nigeria, your life will still be the same.

If you like, don’t go & help yourself.

anungangampu:

That stuff is good for the media . I do t think any Serious government travels to other countries to look for investor's where his country people can barely go to farm. Like I said, it's good for the media and good for posterity (personal)and that's where the big money is, for those who want to steal money. Buhari did it for 8yrs, where did that take us to ?
Fire cant be burning in your backyard while u go abroad to look for people to come and live with you.
Anyone who is coming to invest in Nigeria now is either a criminal who knows how to be repatriate his money back in the most crude way or another scammer like Nigeria Air way deal.
Like I said , Nigeria badly needs a leader who can look inwards and face situations face to face. Not a leader who speaks through foreign media and cant have a media chat without it being manipulated.

At the bolded. I can confidently put it to you that you have no idea how countries like China and Taiwan got rich.

FreeStuffsNG:

Awesome!! We told them to stop hating Nigeria and Nigerians.

The naysayers and unpatriotic elements will not benefit from this.

God bless Nigeria for ever! Check my signature for free stuffs!

You just crept out of your hole?

Shey Na statistics we go chop'?

favor914:
Even if $80 billion enters Nigeria, your life will still be the same.

If you like, don’t go & help yourself.

You are right, folks like this will still complain even if Nigeria overtake the U.S economy.

LIES! LIES!! and more LIES!!! Nigerians are worse off today than they were a week ago! The government keeps trafficking in lies and propaganda while the country is going to hell in a handbasket. The question that people need to ask is, "When will the government start focusing on the sufferings of its citizens rather than presenting false narratives and lying to the world?" Despite all the lies and propaganda, reasonable Nigerians know better because the evidence of the hardship is all in plain sight. No one is spared even those who blindly and foolishly support its failed policies. It's about time the citizens rise against these polithiefcians who have sworn to mortgage their futures and make their lives a living hell.

garriAndsugar:
In lay man's term tinubu made Nigerians so poor that their relatives abroad increased the money they send them.

All hail tinubu the master strategist.. mtchewww

Y'all act like there is a simple straightforward solution for the economic crisis we are in. Sometimes things have to get worse before they get better.

ElSudani:


At the bolded. I can confidently put it to you that you have no idea how countries like China and Taiwan got rich.

The got rich by investing in their own people without segregation. They got rich by reducing corruption to minimal level. They got rich by rewarding merit( where a common man who has the brain can succeed), they also got where they are by making sure their economy was stable for a longer period of time, they got rich rich by making their country safe in a lengthy period of time.
Anything reason before this is another text book delusion born and bred under an escapist mindset.