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Nairaland Forum / Nairaland / General / Business / Data Shows CBN Not Defending Naira With FX Reserves - Businessday (17486 Views)
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Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by regenerateman(m): 3:10pm On Apr 18 |
This is pure grammar. We all know that our naira is gaining value because of CBN interventions. This is a policy that was abrogated by pre. Bola A Tinubu. If the dollar pumped into forex is not form our foreign reserve, why is the reserve depleting? |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by KaptainAfrika: 3:12pm On Apr 18 |
Hold onto your dollars. Don't mind this agbado eaters. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by emkz: 3:17pm On Apr 18 |
Cantonese: All your examples pointed to one thing: INFLATION. Now steps are being taken and the dollar has lost over 900 naira. The prices of goods have not dropped concomitantly. Is that not an indication that the price spike itself was artificial? Even people who don't know what dollar looks like blame the dollars. Right now, steps are being taken to cushion the effects of the artificial inflation. You attack every effort made. Wicked supporters of certain candidates are fighting tooth and nail asking hoarders to continue to hoard their dollars with a view that the naira would crash. If you study their antics, they want to punish Tinubu to prove that their candidate is better. If these people say these things in developed countries, the states would take them out. As for the price of dollars before the currency was floated, everyone old enough knows that the price of dollars was heavily subsidized from the PDP days. It was the wealthy who enjoyed such subsidy as they could travel cheaply, buy properties abroad and import foreign prostitutes, especially from India. Now that the currency was floated, the poor are crying. Even if the dollar is subsidized again, it is naive for the poor to think it would benefit them. The other aspect you raised is poverty capital of the world. Why do you people buy this narrative? What metrics did they use to reach the conclusion? The research itself is flawed. You can blame aspects of price hike on insecurity. That insecurity started under PDP with Boko Haram. It eventually led to banditry, kidnapping and ethnic fighting over land. This led to severe lack of production. Then we also had lack of proper transportation from agricultural hubs to urban centers. My hope is that we use more cargo planes to transport agricultural produce while we work on the railway. Instead of complaining and shifting blames, make reasonable suggestions to help those who run the state. From my small corner, I have made contributions and some have been implemented. Some dimwitted nitwits accuse me of being paid or supporting APC. They can't argue beyond that. 9 Likes 3 Shares |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by amaridigital(m): 3:37pm On Apr 18 |
Cantonese: How much was a bag of rice and dollar exchange before PDP took over in 1999? 1 Like |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Johnjustice: 3:38pm On Apr 18 |
Even if it does, it's our foreign reserves, nothing bad in using to help our economy and salvage Nigerians from high costs of goods. The wealth of the nation is for the good of the people, not for IMF, world bank and co to keep perpetually. 3 Likes |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by ejieddy: 3:39pm On Apr 18 |
As if your salary you collected last month didn't go down because you were owing mama put over half of that salary. You didn't even pay finish. You still carried over to this month and ate more. Oga go and pay your debt and stop complaining about our external reserves |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Johnjustice: 3:39pm On Apr 18 |
regenerateman:What is bad in defending the nation and it's currency? Is the wealth not for Nigerians, what is bad in using it to avoid mass hunger and chaos? What is the job of the CBN governor and CBN, if not to defend the naira and use monetary policy to defend our economy? Are you people slow or what? You saboteurs and haters of Nigeria don't seem to amaze me with how myopic your mind works. 3 Likes |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Kusu12: 3:47pm On Apr 18 |
IPOB cannibals and obirodent miscreants will disagree, who takes those who believed Buhari was cloned or Kanu a wannabe terrorist would get them utopia Biafra serious! 2 Likes 1 Share |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Rebelutionary: 3:47pm On Apr 18 |
Lizzysamuel:Present contradictory data or shut up o! Not empty Nairaland analysis that you and your ilks litter this platform with that bares no relevance on reality! Real Nigerian? You? LizzySamuel? Lol It wasn't propaganda when the dollar was spiking which "Real" Nigerians like you rallied everyday to gloat over. Now there is a resurgence of the Naira and you want us all to come drink from your "propaganda" bile. Not everyone is lost and bitter you know! It is never your place to legislate who anyone chooses to support as a candidate be it Buhari or Tinubu or anyone else because you believe a man who made Anambra poorsible is the next best thing after slice bread. 1 Like |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by jeffizy(m): 3:48pm On Apr 18 |
A good thing that a neutral organisation gave the report. To all citizens huffing and puffing just because the Naira is appreciating, check yourself very well. 3 Likes |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Rebelutionary: 3:49pm On Apr 18 |
Johnjustice:That is the wickedness in the hearts of some of this people that one can't explain. 1 Like 1 Share |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by SenecaTheYonger: 3:49pm On Apr 18 |
emkz: What independent source? Isn’t this news from CBN? Where’s the link to the independent source? |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Rebelutionary: 3:52pm On Apr 18 |
emkz:Thank you for the time you put in educate some of these people. 3 Likes |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Johnjustice: 3:53pm On Apr 18 |
Rebelutionary:They are enemies of Nigeria, by their posts we know them. Nigerians should alienate saboteurs, forget their tricks, innuendos and flawed logic, they are not really smart, but know this- they hate Nigeria, they pretend to care. 2 Likes |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Raskimonojendor: 3:53pm On Apr 18 |
CodeTemplar: 1 Like
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Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by addictiv(m): 3:58pm On Apr 18 |
Lol.. When the CBN governor himself confirmed that they used reserves to defend Naira and it wasn't their intention. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Heavensent01(m): 4:01pm On Apr 18 |
Igbo have not been the same since the loss of that crook they worship but I promise you Igbo, Tinubu will succeed and Nigeria will be great. Not all of us have the plan to relocate from this country, so making sure Nigeria works is not about politicians alone, it's all our duties May anyone that wish Nigeria retrogression get the million folds of retrogression in their household and region Amen |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by DominantBeing(f): 4:04pm On Apr 18 |
Hmmm 🤔🤔 |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Johnjustice: 4:07pm On Apr 18 |
jeffizy:They are traitors. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Johnjustice: 4:08pm On Apr 18 |
addictiv:That is the job of CBN governor to defend the naira, what is your problem with it? Just give me your reasons why the naira should not be defended with our funds? |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Geovanni412(m): 4:25pm On Apr 18 |
emkz: Bro, They mentioned data but couldn't reference any CBN or FMDQ report to buttress their point And you want us to believe it. This is an online article. A simple hyperlink is enough to refer us to the data they are talking about Where is the FMDQ report available online or physically for other journalists and individuals to access? Govt of propaganda. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by SenatePresdo(m): 4:30pm On Apr 18 |
emkz: Independent sources? Lmao If they dig very well, it would be found that FMDQ Securities is owned by an APC propagandist. What makes them and independent source? Keep hating Nigeria and defending deceit. You people are lovers of politicians and party, and have no iota of love for Nigeira. Anybody that loves Nigeria would definitely be pissed with APC, but then Stockholm syndrome is real. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Geovanni412(m): 4:42pm On Apr 18 |
emkz: Steps are being taken but are these steps working How is the govt planning to reduce unemployment caused by the shutdown of businesses due to the currency devaluation? Are you anticipating that CBN will reduce interest rates on loans during the next MPC? Kindly address these issues as these are some of the key underlying metrics that measure how well inflation is being tackled. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by frog12: 4:51pm On Apr 18 |
they even call the man patch-patch CV. this man is correcting many of the wrongs. this man's management is far better than emefiele wey dey make noise left and right. this is what a central bank should do |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by sprints1: 4:59pm On Apr 18 |
Me wey know wetin dey sup dollar go soon enter #2500 just watch... This Tetris game tinubu and cardoso are playing dey laugh me... If u get dollar keep am no sell am... I don warn you |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by emkz: 5:27pm On Apr 18 |
Geovanni412: I think Nigerians are so used to suffering that even when they see something working, they start suspecting and complaining. Thanks to subsidy withdrawal and currency floatation, more funds have been allocated to the states. What are they doing with it? Dangote Refineries has started selling diesel and even crashed the lifting price to 1,000 naira per liter. We expect this should crash the price at the pump which would lead to cheaper goods and services. Also, aviation fuel is being sold by him. This would crash the cost of air travel. With the decision of Tinubu to end litigation concerning OML 245 and allowing Shell to produce from that oil bloc, Nigeria will have a lot of money from that bloc within 5 years. This will cushion fx liabilities and g8ve us more funds for our infrastructural projects which will employ our people. Then the deployment of mining marshals to curtail illegal mining, will help the government earn more from that sector. Insecurity is also being tackled with Daily reports of terrorists being killed from the air. That would enable our people restart farming and this would reduce food prices. 1 km of Lagos-Calabar coastal railway has been completed within a month despite Atiku being an enemy of progress of the project. Such massive projects lead to job creation and a circular economy. The businesses that shut down were those doing fx speculations (fake BDCs) and people in Binance. To me, they should be in jail. The country can feed them and convert them to factory hands for engage in rigorous farming, and sweeping our streets. For the well meaning Nigerians who want to develop the needed skills, please check this news that just came in: The crux of the news is that the president wishes to tackle skill inadequacy from the bottom-up. Then you asked me to anticipate whether CBN would reduce interest rates. I do not work with CBN and I cannot anticipate. But do the banks lend to small businesses? |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by emkz: 5:29pm On Apr 18 |
SenatePresdo: That is you speculating. There is no brain substance in speculations. |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Paramount01(m): 5:29pm On Apr 18 |
shortgun: This are what you think because you know go school, can you now see the resukt of school, you think economy is like Aba market. Cardoso did what you dint undetsand you are shouting |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by emkz: 5:30pm On Apr 18 |
SenecaTheYonger: It is literally in the topic! |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by DrChukki: 5:41pm On Apr 18 |
emkz: Did you watch Cardoso's interview at the IMF meeting yesterday...? He said it that they're using Foreign Reserve but said that money is also entering the reserve account which he said about $600m just entered... It seems you people are just playing with Nigerians... Different story at different occasion... So bad |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Melagros(m): 5:50pm On Apr 18 |
99thEnemy:Call it whatever, I had already passed my message to the public Hope you copied me |
Re: Data Shows CBN Not Defending Naira With FX Reserves - Businessday by Melagros(m): 5:50pm On Apr 18 |
favor914:Call me whatever |
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