₦airaland Forum

....Trump has indirectly ballooned the motivation for more looting/stealing of public funds by politicians and civil servants in Nigeria........ Lol

How APC, with all the money they are looting and their so much bragging aviut having intelligent and strategic technocrats and smart people in their midst, gathered the dullest snd the most uneducated as their e-warriors to defend them on social media is still beyond me.

Check all those pro-tinubu/pro APC e-warriors on Nairaland, they are the most uheducated and myopic that I have ever come across.

Lol....propaganda in overdrive......

Cant help but notice they have become so shameless about telling lies and more brazen about this fake news/ propaganda thing.....lol

Lol.....confused lots.

These were the same people who condemned Buhari for borrowing too much then. I recall even one of the super envagelism scammers in the name of Pastor Adeboye of Redeemed, openly criticised Buhari for borrowing too much then(he has lost his voice now...lol)

Tinubu has borrowed 2.5 times(foreign+local) more in just 2 years compared to what Buhari borrowed in 8 years. Fake accountant...fake strategist bull!!

Lol....

Lol....I have come across your type a few times in real life, I am not surprised at your level of buffoonery, really. For someone who does not read beyond evening newspapers and gossip magazines, its is not hard to fathom why you sound so daft.

Did you even know there was a report from IMF on the so called fake reforms in March 2024 ? Why did you think IMF came out in November 2024 ti statevtgatthw reforns were not working. Why did you think the Economist magazine and Reuters refered to what Tinubu was doing as devaluation ofbthe Naira?

Oponu.....When they guve you 30k/ per month to sell out your future and a poorly coupled 2nd generation desktop at the Computer village,it is noy a surprise that you assune you know what you dont even have faint idea about...lol

Come here, let me school you....oponu

Putindbutt:
This is why you can never amount to anything in life, a retard forming Mr ITK but whose brain is that of a toad. Even a fool must know when to be sober and call it quit. Idiot.

.....lol...Illiteracy is an illness that is incurable....lol.

I now know were you stupidiy is oozing from.

IMF called it "systemic devaluation" ....but in your stupidity, you took "devaluation" to mean another method of exchange rate system....lol......what a slowpoke!!

Putindbutt:
Can you see how stupid you sound. An empty barrel making the loudest noise. Cho cho cho everywhere..

Lol...i never ran away from the supoosed intelligent ones here on Nairaland that I have had highly intellectual debates with....it is you a bloody illiterate that does not even know how to spell his name that I will run away from??... ...

You don't even know what an exchange rate system is talkmore of onowing the variants....lol

Putindbutt:
Don't run away, answer the question

Lol.....for the umpteenth time. Naira is not floated., It is being managed......how else can I get that into your thick skull? Please help me to help you...

No floated currency ever have the CBN/reserve bank sell foreingn currency to a particular set of people at a different rate from the supposed market rate!!!!!!

Lol....You keep referring to devaluation after explaining to you like a primry school teacher...lol.

Where did they bring illiterates like you from?

Putindbutt:
OMG!, o boy, you dull o 😂😂 who asked you stories 🤣🤣🤣 na so una too dey fail exams. Simple question, this mumu dey mention India, Japan 😂😂😂.
Let me repeat the question for you



That's the question, no stories abeg. All your noise, today we go know.

Lol... ...... had to spell it out for dumbos like you since your brains are not capable of deciphering the difference.

Lol...I can see you are now now more interested in knowledge and s someone who does not let the opportunity to pass on some knowledge to some of you educated illiterates, I wont let this one slip

Singapore, Brazil, Japan, India for instance run a managed floated exchange rate system(disguised as floated). The government is a participant (through the national or central banks) in the exchange rate market often intervening through sales, purchase, hoarding and sometimes fixing rates directly

US, Canada, UK, Australia, etc run a fully floated system where the government never ever participates in the exhange rate markets. They only use monetary policies(eg interest rates) to fight cyclical imbalances The commerial banks are also the holders of the forex and not the central banks(unlike your country)

Devaluation is an action carried out by a governmnet to adjust downwards the value of a country's currency for economic reasons.

Lol...i hope the above brief expo is clearer to you now. You can then rate where Nigeria is and come back tk tell me if your currency is floated.....

Putindbutt:
Shut up, nobody asked you for the definition of devaluation. The question is, based off your comment up there, was the naira, fully floated, a managed floating system or devalued?. Today na today 😂😂😂

Lol...naah! ...dont downplay it.....you have been found out completely. No JS2 student who understands basic economics would have written what you wrote, bro......you are that unintelligent....lol

Putindbutt:
You're taking more time on Google 😅😅

Lol....naah!! You see.....i knew you will expose yourself as a bloody uneducated one . You swallowed the bait, hook, line and sinker. You are my monkey on this topic. Lol....

Devaluation is action/exercise completely independet of the foreign exchange currency system you run....

Putindbutt:
Illiterate, stay one place, let's judge you poor Education 😂😂😂. Was it fully floated, managed floating or devalued?. Go and read Google and come back. Even at that, your brain will still fail you😂😂🤣

Lol....from someone who does not know the difference between his left hand and his right hand....oponu

zero8zero:
Just don't pass your senselessness to your kids.

Lol...i knew it was beyond you....not surprised you dont know the difference. It is typical of the 30k/month gang here. They just gathered MC Oluomo followers from Oshodi and gave then access to the internet to fire on...lol...oponu!!

Putindbutt:
Can you see how your brain is floating 🤣🤣😂 see how semantics is confusing you 😂😂. Stop smoking.

Lol...it is not hard to identify those who went to quranic school rather than proper schools.

Please do yourself a favour, get one of your neighbour's children in junior secondary school to explain basic economics to you so you can stop disgracing yourself publicly.

Ensure that small child vets anything you want to post on social media before you click the send/submit button, biko. Of the boy/girl is not around to correct your illiteracy, dont bother posting at all o.

zero8zero:
Greedy traders, hoarders doesn't want to lose their profits even prices are gradually coming down. You read where some farmers were
lamenting over the reduction of food inflation. We are quick to blame the Government but we are the real devil.

Lol....if only you were educated enough to know when a currency is fully floated and when it is a managed floating.

To help your brain, that issue had been thoroughly debated on Nairaland at least and all ressonable conclusion arrived at the factbthat it was devalued and not floated. You can do a quick search instead kf diagracing yourself with half knowledge

You can also try and read the march 2024 IMF report that labelled it as "systemic devaluation" to help your knowledge . Those ones dont have any mumu to deceive.

Putindbutt:
You didn't know it was floated?, Illiterate.

Lol...mumubutton....

Wanking off with Naira at 1500, when it was at 648 when Tinubu took over....

PressMyButton:
Bitter people says after China holiday, naira would slide down and lose its strength. Against their wish, the naira is even getting stronger against the dollars, Euros, Canadian dollar and pound. Kudos to Cardoso and his indefatigable team.
Wailers, continue wailing, we like it like that.


After God, na Tinubu 💪 God bless Nigeria

Gbam!!

He is doing kalo kalo(sporty bet) economics

Sheuns:
Pls let’s stop referring to the calamities this man is doing as reforms. They are not reforms.

We know...they are all wrong.

When you have a career crimimal as a leader, all decisions will be out of suddenness and irrationality.

The devaluation was the worst of all

That book is full of half truths and concocted lies to launder his image

Funny how this group of people reason

Someone participated in a counter coup that killed nearly 200 igbo officers on the convinction that Igbos led a coup

Same person might have encouraged the progrom that destroyed nearly 30 000 igbo lives in the North over a revenge to a purpoted igbo coup.

Was heavily involved in the civil war that massacred millions of igbos in an aftermath of the reaction to an igbo coup

Led successive governments that has characterised the Igbos as losers, denied them proper acceptance into the Nigerian society, politically ostracised and marginalided them in almost all national decisions


Then this person, after a sudden repentance, now wrote a book many years after,full of obvious half truths and concocted lies designed to launder his image before his death in an attempt to sway posterity....

...and these old buffoons are masturbating over all that??

.

My brother.....na "sidon look mode" I dey now l. I don't worry myself about a government that tells obvious lies and the people who choose to believe the lies....its their problem

Ojuntana:
This is concerning
There seems to be a disconnect between the policy being propagated in the public space and the one implemented with real effects on Nigerians
The clueless government have been claiming that floating naira is one of the reforms that have been yielding fruits with the naira getting stronger
Now we're being told $8bn was used to shore up the naira and another $4bn to shore up reserves
The rebased rate was expected to reflect the new trends based on those reforms
What is obvious is that the rebased inflation rate does not reflect the market.
The former rate is more realistic
Where did the figures come from then?
Where exactly is this so-packaged reforms taking Nigeria to?
Is there any tangible benefit to be derived in the true sense and what are the benefits?

Lol...I have read enough to understand that the guy does not even understand what he is writing. He is contradicting himself here and there.......i don begin ignore am make him no dirty my brain...

.

chidiokay:
i dont understand you, CBn intervention on forex simply means "injecting" more dollar into the market, which one is Cbn os buying up again
if there is excess dollar, naira would be gaining strength .. not reverse

Are you even knowledgeable about these stuff , do you even know the laws of DD & SS abeg

Lol...anybody reading it will think the poster below is making some points....not knowing he/she is posting gibberish and half truths. I am not surprised though, because they most times assune every reader here is semi educated like they are.

There are basically 2 exchange rate systems

1. Floated exhange rate system where the rates are determined purely by the forces of demand and supply( US,UK, Canada, Australia, etc) . The government bank(Central or Reserve ) only intervenes using monetary policies like the interest rates to adjust or fight cyclical imbalances, but it never buys, hoards nor sell foreign currencies

2. Managed exchange rate system where the governments intervene to manage the exhange rates either regularly or when necessary. For some of these, the government's bank sometimes participates directly by buying, selling or controlling the flow of foreign exchange in and out of the country(like CBN does). A variant of this model is where the government fixes the exhange rate periodically. Another variant of this is called managed floating system where the governments indirectly props the national currency against certain foreign currencies but allows it to float against others.

Now read the following

Fact 1. The Nigerian government came out to tell the whole world that it now runs a a fully floated exchange rate system( sources: Tinubu, Wale Edun, Cardoso, etc....I doubt they knew the meaning of what they were saying or they were directly being mischevious with the truth knowing the gullibility of the people they lead) and that the rates are now determined by the market forces while condemning the practices of managed exhange rate system used by Buhari and Emefiele, as being partly responsible for the current economic woes.

Facts 2. Japan does not run a fully floated......it has been running a manged floating system since 1973. It regularly intervenes to ensure its currency was devalued to the USD because it was largely dependent on exports to the US. It spent $60bn in 2022 to manage the Yen when its trade imbalance to the US reached the highest as a result of its trade deficit to the US only(China had become the Asian largest exporter to the US years before then gradually waning Japanese influences in the trade advantages the US)

Fact 3. India runs a managed floated exchange rate system and not a fully floated one. India, right from day 1 told everyone that not only market forces will determine its exhange rate, their governmnet will intervene to fix the rates periodically......Nothing more to be said here.

Fact 4. Brazil runs a managed exchange rate system. Managed for USD, Euro and Yuan( major countries they export to), the rest are fully floated. Brazil never lied to anyone that only market forces will determine its exchange rates....they were clear that they were running a dual exhange rate or manage the exhange rate system starting from the 1st term of President Lula.

There was a reason the poster below never used the US,UK,Canada,etc as examples. You are either running a fully floated exchange rate system or a managed one. There is no in-between. That the government of Nigeria has spent $8bn to defend the naira while being hush about it should tell you they don't know what they are doing. At least under Buhari and Emefiele, they were open about how much they spend periodically to defend naira.

Truth is you cant claim you are floated and at the same time be subsiding the currency.....it is a clear sign you dont know what you are doing. They were quiet about the $8bn because ghey realised it would be news and would go contrary to the lies they had sold to their gullible populace/followers

Kalo kalo economics.

DeLaRue:
Nothing new.

Every country steps in to support their currency.

In late January 2025 (last month), Brazil was spending about $7 billion dollars PER DAY! to support its currency against the dollar.

Around the same period, India spent over $20 billion dollars within 3 days to support the Indian Rupee.

Japan spent over $60 billion to defend the Yen against the dollar last year, yet the Yen has lost so much value against the dollar in the past 2 years.

If Nigeria spends $8 billion in 2 years, that's still reasonable, compared to when we were spending about that amount every year under Mr Buhari.

Truth is, the dollar is just too powerful against most currencies. Many governments have to defend their currencies, otherwise...

Lol....i knew when these ones said they were floating, they were deceivibg the mugus.

The government devalued naira. IMF called it out since Feb 2024

Lol.....what is affecting your brain... election has held, if anyone is not happy he or she can go to court.

It is a triumph of federalism......FG cant dictate to states

JagabanBorgu:
There's no election anywhere that a single party will sweep all Local Govt Area, it's never possible.
I was in Benue during the LGA election and polling units were empty yet results were announced, the electoral staffs employed to go and collate election results were in their houses on that very day.
Same applies to other states including Osun, calling that hoax an election and some people are supporting it because it's a party they like yet same people are clamouring for a functioning country is really funny.

Lol....ok, tell me where is not overated now?

Quelme:
Canada is highly overrated place.

Poor housing.

No jobs..

Indians have polluted that place...

No social live....

Extreme weather conditions....

Lol.....it is your comprehension and contextual problem. Nowhere in my post was it stated that all Nigerian doctors do that. You were just assuming things and that insinuation came from your head.

However, we have heard and read that about Nigerian doctors doing that. Internet is awash with that. That is enough to relate it to Nigerian Drs.,

The bottom line is this however, the level of oversight, training, control and quality review practices are much higher in the UK compared to Nigeria(that is even beyond any debate), hence making mockery of thos incident based on the UK BMA even coming out to highlight their errors, admit and eilling to correct as a way of improving their services and profession, by comparing it to Nigeria is the dumbest way to look at it.

nairalanda1:
No, you were insuinating that all Nigerian doctor's are doing surgery by YouTube.

Which is a lie.

If you want to badmouth doctors go ahead. Just not by hyperbole

Lol...but some do, right? We are saying the same thing.

nairalanda1:
Most Nigerian.doctots do not perform surgeries using YouTube or ai.

Lol....another mumu post

Kalvan50:
There had to be some painful medicine taken. I’m seeing smart leadership from Tinubu in spite of the hate.

Inflation dropped from 35% to ~24% MOM
Debt yields have fallen to a 5 year low
Oil output has increased. In Jan, the country hit a 4 year high 1.54 million barrels, exceeding the OPEC quota.


https://www.bloomberg.com/news/newsletters/2025-02-18/next-africa-has-nigeria-turned-a-corner-investors-think-so

Lol...that was the lie they sold to you people. Sane people picked holes in their arguments then.

Rest assured, the people in charge of the Economy under this administration don't know what they are doing...

Hemanwel:
Why is the naira not appreciating against the dollar as much as it should now that Dangote refinery and the NNPCL refineries are functional? Aren't these supposed to be our biggest sources of foreign exchange?

Why the dilly-dallying of the naira?

I have not read this book by Babangida and as a keen reader and an avid follower of history, I will surely read once I can get the online version.

But if what is written here truly came out of that book, I am suspecting a shoddy research into history or attempt to turn history on its head for certain gains/pecuniary reasons by the co-authors or a Babangida's attempt to divert attention from his failures in making history.

All records(local and international) point to Emmanuel Ifeajuna,Kaduna Nzeogwu, Tim Onwuatwegu, Anuforo, Okafor and Ademoyega as the masterminds of that coup.