I came across news earlier from the Central Bank of Nigeria (CBN) announcing foreign exchange inflow totaling $1.5 billion USD in just one month. According to the CBN, this was an indication that its monetary policy efforts were working.

While this news may seem positive at face value, it's important to put it to context. As of 2019, Nigeria was receiving monthly foreign exchange inflows of over $2 billion USD, despite Buhari's government being considered a monumental disaster.

The point here is, let's not celebrate or settle for mediocrity. Nigerians deserve to be fully informed about the true state of the economy.

Propaganda is dangerous for Nigeria's development. It serves only the purpose of failed corrupt leaders who focus on laundering their image rather than doing real work that benefit their people.

For those asking, here is a link to CBN's quarterly reports which includes foreign exchange inflows:

https://www.cbn.gov.ng/documents/quarterlyecoreports.asp

You can see that even before Tinubu took over office, in the first quarter of 2023, Nigeria earned $7.2 Billion USD in that quarter, which is an about $2.4 Billion USD monthly.

Omo, socialmediaman, you don bring up very crucial point wey many people fit no dey think about. This announcement from the CBN about 'huge' influx of foreign currency fit sound good for ear, but when you put am side by side with past records, e dey clear say we still get long way to go.

Your reminder say back in 2019, Nigeria dey receive over $2 billion USD every month na eye opener. E show say while $1.5 billion USD na good thing, we no suppose just sit down dey clap without considering the bigger picture of how the economy dey really perform.

Your talk about propaganda na something wey everyone for Naija suppose take seriously. True true, e dey dangerous for our development because e fit make people dey live for illusion instead of facing the real matter wey dey ground. When leaders focus more on washing their image with sweet mouth instead of doing the real work, na the citizens dey suffer am at the end.

We deserve to know the true state of our economy, and we deserve leaders wey go be transparent with us, leaders wey go put in the work to truly improve things. E no just be about making the country look good on paper or for news headline; na about real, tangible progress wey go touch the lives of everyday Nigerians.

Make we continue to ask questions, make we continue to demand accountability from those wey dey in power. E dey important make we no just swallow everything wey dem dey tell us hook, line, and sinker. Na our right to be fully informed about the state of our economy and to challenge any form of propaganda wey dey thrown our way.

socialmediaman:
I came across news earlier from the Central Bank of Nigeria (CBN) announcing a 'huge' influx of foreign currency totaling $1.5 billion USD in just one month.

While this news may seem positive at face value, it's important to put it to context. As of 2019, Nigeria was receiving monthly foreign currency inflows of over $2 billion USD, despite Buhari's government being considered a monumental disaster.

The point here is, let's not celebrate or settle for mediocrity. Nigerians deserve to be fully informed about the true state of the economy.

Propaganda is dangerous for Nigeria's development. It serves only the purpose of failed corrupt leaders who focus on laundering their image rather than doing real work that benefit their people.

No talk wetin the report no talk.
I read it and there no where "HUGE" is used . Na you add am to suit your narrative

The custodians of the "true state of the economy" have told you what it is. If you have "researched" and discovered the "actual true state of the economy", please go ahead and tell us what the true state is. That will be by far better than typing bunkum all over the Internet.

Rolings:


No talk wetin the report no talk.
I read it and there no where "HUGE" is used . Na you add am to suit your narrative

"Huge" was put in quotes for a reason. The CBN said this: "This, according to the Central Bank of Nigeria (CBN) indicates that its monetary policy efforts are working."

socialmediaman:


"Huge" was put in quotes for a reason. The CBN said this: "This, according to the Central Bank of Nigeria (CBN) indicates that its monetary policy efforts are working."

HUGE was not part of the original story .....why not report it as it it.
But you clearly want to denigrate the work of CBN with this thread so you had to lie.....like all so called bloggers that tell lies to drive traffic to their sites..... You may call it survival instincts but in professional circles its called click bait

Of course, that number must be scrutinized as that wasn't your expectations. Its not bad News now which don't need questioning.

Na only Olofo dey binu Ologo

Richtaiwo:
The custodians of the "true state of the economy" have told you what it is. If you have "researched" and discovered the "actual true state of the economy", please go ahead and tell us what the true state is. That will be by far better than typing bunkum all over the Internet.

Some of them are becoming a witch with their continuous hatred over any good news about Nigeria.

Rolings:


HUGE was not part of the original story .....why not report it as it it.
But you clearly want to denigrate the work of CBN with this thread so you had to lie.....like all so called bloggers that tell lies to drive traffic to their sites..... You may call it survival instincts but in professional circles its called click bait

That another form of corruption - journalistic corruption.

helinues:
Of course, that number must be scrutinized as that wasn't your expectations. Its not bad News now which don't need questioning.

Na only Olofo dey binu Ologo

Your colleagues were celebrating it and the CBN said its policies are working. It's a big red flag when government resorts to propaganda

Same style throughout Buhari's 8 years

socialmediaman:


Your colleagues were celebrating it and the CBN said its policies are working. It's a big red flag when government resorts to propaganda

Should they have been sad? Are you sad about the news?

How come it's only good news you guys scrutinized, call propaganda but if it's bad news about Nigeria, you guys would quickly swallow it without any questioning.

Is this how other political party from other countries play their own opposition by hating on the progress and development of their country just because their party couldn't win the election.

You guys should stop this continuous hatred over any good news regarding Nigeria. Na witch in making

helinues:


Should they have been sad? Are you sad about the news?

How come it's only good news you guys scrutinized, call propaganda but if it's bad news about Nigeria, you guys would quickly swallow it without any questioning.

Is this how other political party from other countries play their own opposition by hating on the progress and development of their country just because their party couldn't win the election.

You guys should stop this continuous hatred over any good news regarding Nigeria. Na witch in making

In other countries, If you make a false claim, the media calls you out immediately. They don't waste time

socialmediaman:


In other countries, If you make a false claim, the media calls you out immediately.

So where is the false news about foreign currency inflow?

FDI already exceeded $1.5bn as at this same time last year..

helinues:


So where is the false news about foreign currency inflow?

FDI already exceeded $1.5bn as at this same time last year..

The claim was that the inflow showed that the policies were working.

The thing to note here is that by this time 5 years ago, Nigeria was receiving more inflows than this under a failed government

helinues:


Should they have been sad? Are you sad about the news?

How come it's only good news you guys scrutinized, call propaganda but if it's bad news about Nigeria, you guys would quickly swallow it without any questioning.

Is this how other political party from other countries play their own opposition by hating on the progress and development of their country just because their party couldn't win the election.

You guys should stop this continuous hatred over any good news regarding Nigeria. Na witch in making

How is it good news?

Weird!

socialmediaman:
I came across news earlier from the Central Bank of Nigeria (CBN) announcing foreign currency inflow totaling $1.5 billion USD in just one month. According to the CBN, this was an indication that its monetary policy efforts were working.

While this news may seem positive at face value, it's important to put it to context. As of 2019, Nigeria was receiving monthly foreign currency inflows of over $2 billion USD, despite Buhari's government being considered a monumental disaster.

The point here is, let's not celebrate or settle for mediocrity. Nigerians deserve to be fully informed about the true state of the economy.

Propaganda is dangerous for Nigeria's development. It serves only the purpose of failed corrupt leaders who focus on laundering their image rather than doing real work that benefit their people.

Where is the source of the 2019 report?

Geovanni412:


Where is the source of the 2019 report?

https://www.cbn.gov.ng/out/2019/rsd/cbn%20economic%20report%20first%20quarter%202019%20final%20draft%20.pdf

socialmediaman:


The claim was that the inflow showed that the policies were working.

The thing to note here is that by this time 5 years ago, Nigeria was receiving more inflows than this under a failed government

How much Foreign currency inflow did we have then?

helinues:


How much Foreign currency inflow did we have then?

https://www.cbn.gov.ng/out/2019/rsd/cbn%20economic%20report%20first%20quarter%202019%20final%20draft%20.pdf

Can we know what the situation was up until this cursed mandate took over the reigns of leadership?
Governing with propaganda, half truths and outright falsehood would not help anybody.

Culturally, the president comes from a clime where praise singing is akin to life itself, therefore his handlers would go to any length to whitewash anything washable, Nigerians be guided.

socialmediaman:


https://www.cbn.gov.ng/out/2019/rsd/cbn%20economic%20report%20first%20quarter%202019%20final%20draft%20.pdf

Currency exchange inflow. Buying and selling of currency.

That's totally different from Foreign currency inflow or FDI.

You see now. You are basing your analysis on wrong figure

SisterAnn:
Can we know what the situation was up until this cursed mandate took over the reigns of leadership?
Governing with propaganda, half truths and outright falsehood would not help anybody.

Culturally, the president comes from a clime where praise singing is akin to life itself, therefore his handlers would go to any length to whitewash anything washable, Nigerians be guided.

This is the link to where the CBN publishes the quarterly economic reports: https://www.cbn.gov.ng/documents/quarterlyecoreports.asp

I think the report you're referring to is first quarter of 2023 before Tinubu took over office. Nigeria earned $7.2 billion in that quarter which is an average of $2.4 Billion USD monthly. This government is celebrating $1.5 Billion USD

SisterAnn:
Can we know what the situation was up until this cursed mandate took over the reigns of leadership?
Governing with propaganda, half truths and outright falsehood would not help anybody.

Culturally, the president comes from a clime where praise singing is akin to life itself, therefore his handlers would go to any length to whitewash anything washable, Nigerians be guided.

Birds of the same plumage. Is currency exchange inflow same as foreign currency inflow.

It's now confirmed that you guys in the opposition are full of lies, deceit and propaganda

helinues:


Currency exchange inflow. Buying and selling of currency.

That's totally different from Foreign currency inflow or FDI.

You see now. You are basing your analysis on wrong figure

The CBN announced their foreign exchange inflow. Don't confuse yourself

socialmediaman:


The CBN announced their foreign exchange inflow. Don't confuse yourself

You are the one who is confused.

How is the screenshot you attached below related to your own topic?

Stop the quarter cleverness

helinues:


You are the one who is confused.

How is the screenshot you attached below related to your own topic?

Stop the quarter cleverness

Since you (and probably most Jagabantists) don't understand that "foreign currency inflow" and "foreign exchange inflow" mean the same thing, I have changed the word "currency" to "exchange" to help you focus

helinues:


Birds of the same plumage. Is currency exchange inflow same as foreign currency inflow.

It's now confirmed that you guys in the opposition are full of lies, deceit and propaganda

Paraman, calm down.
You too dey para.

socialmediaman:


Since you (and probably most Jagabantists) don't understand that "foreign currency inflow" and "foreign exchange inflow" mean the same thing, I have changed the word "currency" to "exchange" to help you focus

What is foreign currency inflow?
When a country experiences a large inflow of foreign currency, the central bank will buy the foreign currency and issue local currency to the public. As a result, the international reserves accumulate and people have more money in hand.

What is foreign exchange flow?
Foreign exchange, or forex, is the conversion of one country's currency into another. In a free economy, a country's currency is valued according to the laws of supply and demand. In other words, a currency's value can be pegged to another country's currency, such as the U.S. dollar, or even to a basket of currencies.

I have taken note of your moniker. I won't waste my time next time educating you

Imagine the boring arguments. So those who made use of currency and exchange interchangeably were drunk right?

Lots of you are plenty in the opposition's camp. Arguing blindly on things you have little information about.

socialmediaman:


This is the link to where the CBN publishes the quarterly economic reports: https://www.cbn.gov.ng/documents/quarterlyecoreports.asp

I think the report you're referring to is first quarter of 2023 before Tinubu took over office. Nigeria earned $7.2 billion in that quarter which is an average of $2.4 Billion USD monthly. This government is celebrating $1.5 Billion USD

Thank you jareh.

This government is yet to realize that election is over and they should settle down to governance. They can only decieve their blind followers.

helinues:







I have taken note of your moniker. I won't waste my time next time educating you

Imagine the boring arguments. So those who made use of currency and exchange interchangeably were drunk right?

Lots of you are plenty in the opposition's camp. Arguing blindly on things you have little information about.

I don’t know where he got his figures from. This is what I got for the entire 2023.