blacknp: Sure it is not a good idea, because people like yourself, many other Nairalanders like Bobloco, you want to enjoy without working hard & sacrifice?
blacknp, if you are sincere to yourself, you will know that Tinubu and his patch patch CV CBN governor have wrecked the economy.
talented321: I don't really believe this because the few i came across there is nothing like what you wrote down here, though may be i'm the one that never go across such.. .. what is wrong if she is been buried in her village, do you want your mother to be buried in a strange land, right? When there is no challenge in the village she comes from
I don't understand what you mean by "Strange land"
talented321: I don't really believe this because the few i came across there is nothing like what you wrote down here, though may be i'm the one that never go across such.. .. what is wrong if she is been buried in her village, do you want your mother to be buried in a strange land, right? When there is no challenge in the village she comes from
I don't understand what you mean by "Strange land"you
RepoMan007: I have asked countless times here too. Emefiele was obviously getting it right compared to some patchy-patchy sophistry of a politically-minded tinubu team.
It makes no sense to give someone going to buy hair extension and tractors dollar at same rates. Let the less important one, that's consumption focused, go to black market and buy at N2000 a dollar, but give the tractor importer at N200 a dollar. That way, you encourage people trying to increase local production. They can take future pressure off the dollar supply with import substitution. Emefiele was right to partially disown some ridiculous imports via that list of 41 items. Today everyone is justling for same dollar and the price has gone haywire.
talented321: But i heard in that part of the country they don't value their women, that's why they always sell their women out.. Why will grown men will be looking after another man's property when he has a wife and children. If you ask me it is laziness..
He argued that multiple exchange rates had produced the “most optimal results when compared with other emerging markets…”
THISDAY has stumbled on a report by Bloomberg in 2019, where the ex-governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, warned that floating the naira would lead to a free fall in its value.
Titled, “Free Float Would Send Naira Tumbling,” Emefiele had argued at the time that the country’s system of multiple exchange rates had produced the “most optimal results when compared with other emerging markets in recent times”.
Under Emefiele, who was appointed in 2014, Nigeria had tightened capital controls and closely managed naira’s value.
The then CBN governor had consistently said it was the best way to curb inflation and boost manufacturing by discouraging imports, even though several foreign investors had faulted the policy and said it exacerbated an economic downturn.
“We will get even more aggressive,” he had said. “This is because we think the initiative the central bank has to cut imports and diversify the economy is yielding results.”
The report said shortages of foreign exchange had eased at the time due to higher crude prices and CBN’s opening of a currency-trading window for portfolio investors that allowed them to buy the naira at a weaker level.
The rate in that window had almost converged with the black-market rate of around N360 to the dollar at the time. The naira is currently valued at over N900 to the dollar at the official market and N1,400 to the dollar at the parallel market.
Btw, if Nigeria finally wins this tournament after their initial super Chicken performance, that means their is still hope for Nigeria as a country then. Some good things starts tough at the beginning.
Abeg allow us savour this moments don't bring Nigeria leadership and political problems here
Slytiger: [b]Naira is settling to it's real value. [/b]The government can't keep backing and padding the naira artificially with billions of dollars every year so that some rich people can send their kids to school abroad, buy homes abroad, import overpriced items from the abroad to sell in Nigeria e.t.c.