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Nairaland Forum / Nairaland / General / Business / CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ (15742 Views)
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Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Duru009(m): 10:19pm On May 23 |
This man is the most confused CBN governor in history..... Talks from two sides all the time 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by bluefilm: 10:19pm On May 23 |
racerve: Master strategy my arse! They thought it's all about grabbing power by all means and running away with it Now, they have ran into a ditch 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by StarRiderr: 10:45pm On May 23 |
Omo na die we dey like this oooh |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by jiz: 11:09pm On May 23 |
Hahahhaahhah...... Smartcitizen: 1 Like
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Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by IbrahimSola: 11:28pm On May 23 |
Clueless clueless clueless. The idiioots in govt can't still find out what determines exchange rates. You're producing nothing, you own a palm oil plantation. Instead of milling your oil by yourself, you sell the fruits in bunches and prefer to import the oil from another state to use and cook at international prices. How else can you define stupidity? You depend on World Bank on how to run your country. When did the West start wishing Africa well? You can't hire a 69 year old to run your company, but you hire them to run all your institutions. You produce nothing yet you expect your coin to compete with the coins of other countries that are producing. You remove subsidy without any plans on ground. You promise to fix refineries to begin production in December 2023 while the long awaited Dangote refinery was to start working in July 2023. All farce. You run a country where people are kidnapped just anywhere and farmers are prevented from going to farm and you're expecting that food inflation will not come. What a clueless people! What is seasonal about the demand? Is this the first season ever witnessed in Nigeria? Now Labour is asking for new minimum wage. Why not use that energy to DEMAND that politicians must be put on minimum wage. I don't need to earn higher wages if what I am earning now cannot get me anything. Minimum Wage is 30k while a bag of rice is 90k. If this daft country is not careful, this minimum wage with the current level of inflation will bury this country. The earlier you daft and useless clueless thieves in power start looking at the evident causes of high exchange rate, the better. The earlier you start flooding the market with food from wherever the better. But that can't solve anything either, just a temporary relief. Pursuing crypto dealers and others won't fetch you a teaspoon of solution. Stop insecurity and invest massively Mass Transit, reinvest the subsidy pay or keep chasing your ghost that doesn't exist. Get the refineries to work. Reduce the waste in government. Sack the MD of NNPCL. Sack the MDs of the refineries . Stop their salaries if they're not refining. Why did you pay refinery workers jumbo salaries why you withheld the salaries of lecturers? Either the people in government are mad or they are very very mad. Nigerians are sleeping hungry everyday. Go to hospitals and see how people are dying due to lack of funds to pay for treatment. Go to the market and see how everyone is carrying mournful faces (apart from families of the thieving politicians and elites). Go to the Universities and see how students are looking harassed because many have not eaten, not to talk of paying fees. People are harassed psychologically and mentally everywhere. There's no middle class again in Nigeria. You are either poor or rich. Then all the government knows is to spew thrash... How can you say u know what Nigerians are going through yet you can't open the treasury to flood the country with mass transit buses? Fuel price is on the rise daily and you're too clueless to know that the strongest factor is transportation while you're tackling your exchange rate that was caused by your policies. There are some politicians that if Nigerians should have the opportunity to flog, some people would carry annoyance and flog them to death. The suffering is too much. My consolation in all these is that we the APC members and INEC staff have our separate market to buy our goods. We the APC MEMBERS we buy our bread N150 per loaf and we buy fuel at N67 per liter. The price of garri in our APC INEC market is 10 cups for N100 and a bag of garri is N3,000 per bag. We're gladly insulated from the lazy Nigerian masses. 3 Likes |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by SuccessfulRichi: 11:34pm On May 23 |
This CBN governor is so confused and the country itself. Trial and error govt. Top Government officials now learning how to run Nigeria economy on Nairaland and other websites!! Shame, shame, shame, shame!! Now CAC is blocking POS operators from doing business with CBN. How much do you think we make from this POS business |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Laladre1: 11:41pm On May 23 |
jiz: Abi oloriburuku Ni eleyi ni, God punish you. 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by CommonSense1967: 11:41pm On May 23 |
Racoon: Mumu man shut up if you lack basic common sense to understand what he's saying. Any govt can continue what we used to do and Naira will be where the govt want it to be. But that's not how you grow your economy in the long run. This govt have allowed the currency to find it's natural level. It takes courage to take hard decisions because they are not often popular but they are for the best interest of the country. If they want to manage the currency tomorrow, they can easily do it but that's not the objective. This govt is the first govt in thr history of Nigeria to the real advance micro economic decisions that will actually grow the economy in the long run. They can also return the fuel subsidy and prices will crash but what benefit has that brought the country by doing that over the decades? Stop being a classic olodo and use your shallow skull a little bit. This is not about making popular decisions, it's about making hard and difficult decisions that will have long lasting positive economic effects. These are hard decisions that must be made, only a competent and brave govt can make such decisions despite the out crry. |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Ilekokonit: 12:53am On May 24 |
franchasofficia: You got that right. 1 Like 2 Shares |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Ilekokonit: 1:01am On May 24 |
ogolemati: The crackpot was snubbed by world leaders at the G20. 1 Like 2 Shares
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Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Ilekokonit: 1:05am On May 24 |
Tinubu or whatever your real name is, if you can't stand the heat, get out of the bloody kitchen and go spend time with your Lagos loot and your stash of drugs. |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Geovanni412(m): 1:23am On May 24 |
Ofunaofu: What you guys don't know is this... The real beneficiaries of inflation are the government and the CBN They only pretend to keep things under control. Why is it that with 'demand season' , they haven't decided to reduce the number of workers on payroll in the ministries or the salaries of public officials? This video will enlighten you further on the truth about inflation and monetary policy https://www.youtube.com/watch?v=0M58kxzqx-k?si=wnHXyDFR-YD3M5yR 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by jiz: 1:29am On May 24 |
Trash Laladre1: |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by InvertedHammer: 1:45am On May 24 |
/ It may be time to send EFCC to arrest “Demand Season” / 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by skywalker240(m): 1:48am On May 24 |
SouthSouth1914: |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by skywalker240(m): 1:55am On May 24 |
Resetinc:Very much correct 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by CENI: 2:39am On May 24 |
immortalcrown: You wicked oo, this your qoute 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by khattab02: 3:01am On May 24 |
jiz:which fruit?? Dem no even fit do two weeks of planting. Talk more of the plant growing and surviving to become a mature tree to bear the said fruit 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by khattab02: 3:04am On May 24 |
What is next to blame now? Mr trials and errors?? May be Nigerians using the internet 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by skj1377(m): 4:44am On May 24 |
Seasonal demand in may?? So what will happen in December?? This man is daft 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Ishilove: 4:55am On May 24 |
Oh God... 🤦🏿♂️🤦🏿♂️🤦🏿♂️ |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Blazetrailer: 5:05am On May 24 |
...hhhmm!! Word!....but they with hear. IbrahimSola: |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Blazetrailer: 5:20am On May 24 |
...you are the real mumu man here. In fact, you are a dim wit not to know that the subsidy has sureptiously been smuggled back into the government's spending according to all reliable sources, despite several denials by the govt. Of the truth, there was a recent warning by IMF that the new borrowings by this govt have been used to sustain the fuel subsidy and it may not be enduring. Again the fallacy of floating the naira to find its natural course has been debunked by several reliable international sources. The naira was simply devalued, in June 2023 and in January 2024. There is no free floating anywhere according to the exact definition of free floating, in the Nigerian current situation. CBN still controls a huge chunk of the supply and sometimes determines rates to sell to to the public. That is not free floating. That it was floated and it has found its natural course os the dumbest lie sold to gullible Nigerians and it pains me really to see dim witted ones try to rationalise the foolishness behind rgat decision. How do you float a currency in a system that even your own currency plays a second fiddle to another foreign currency? Where is that done on the world? You don't float your currency unless you have put in place strong monetary measures and regulations to put your currency at an advantage in your own economy. The devaluation that was done by this administration was a brainless one that will debar the progress of Nigeria for another 20 years if not more. Finally, there is not better thing in the long run for Nigeria, where future economic projections are very dom and there is a protected recession for coming years. Thinking and believing that there is any benefit in the long run based on these poorly implemented and thoughtless policies is not only stupid, it is imbecillic to expect such in a shrinking and declining economy like this woth heating signs of a long term recession CommonSense1967: 1 Like 1 Share |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Vikynas: 5:37am On May 24 |
No be Binance again? 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Elibaba1: 6:25am On May 24 |
DULLARD ‼️‼️‼️ 1 Like |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Akpakomiza2: 6:40am On May 24 |
Ilekokonit: But will still win reelection |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by Madups(m): 8:45am On May 24 |
immortalcrown:Calm down! our engineers dey run maintainance for the brain once dey finish now everything go dey ok. 1 Like 1 Share |
Re: CBN Governor Cardoso Blames Naira’s Fall On ‘Demand Season’ by poiZon: 10:21am On May 24 |
Racoon:Who is the minister for Finance sef? Which ministry wale Edun dey supervise sef? Cos we no dey hear anything from him end... 1 Like |
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