Crowntop94:
Since Nigeria is zoo then you are the animal inside it.

sirjamesjnr:
. Though I have a soft spot for the Yoruba people, maybe because of their respect and tolerance for elders, or maybe because I had a girl from there. I'll tell you up front that I'm from the Niger Delta. Regarding my identification, I won't elaborate further. You just told me to ignore your illness because someone else has body aches.

sirjamesjnr:







Peter Obi Borehole, in the northern part of Nigeria, is another excellent example. Although someone may claim that the money is his and he may use it however he pleases, the fact remains that Peter Obi's poor water project contradicts everything I know about him. I'd like to think that some Ibos executed and completed the water projects on his behalf.

These individuals are well-known among Easterners; they reside among them, perform these immoral deeds in a setting they are familiar with, and yet they choose to ignore it. The majority of Ndi Ibo support these acts by commission or omission, just as the vast majority of Nigerians view corruption as a way of life when it is in their favor. Eighty percent of fake medications, electronics, and replacement parts are produced or imported by criminal elements among the Ibos. While traveling through Nigeria's big marketplaces, one can see young people who don't own a shop or any space participating in a number of immoral acts, with store owners doing little to stop these acts.

My thread does not in any way target our South Eastern brothers based on ethnicity; rather, it calls out a culture that condones and even encourages the criminal element among them, which is killing people and harming our reputation abroad. In a similar vein, I shall denounce ethnic groups in my region (the South) that support oil bunkering, kidnapping, the Yorubas for financial fraud, a thuggish mindset among their youth, etc., and our northern brethren who promote the mentality of willing political servitude. If this claim is false, what evidence do we have from the media and from our daily lives that contradict it? Why are they unable to make conscious attempts to put an end to these wicked activities? I hope to see the political elite and market leaders take decisive and deliberate action to eliminate counterfeit and inferior products from our surroundings. The people must be willing to stand up against these despicable crimes before the government can do much.

Wallade:


Oga, when you want to do articles like this one, you should do some research on your points so you don't misinform the public.

Bureau De Change has always been operational in Nigeria, including during Buhari, Jonathan government. Emeifele tried to stop sale of forex to BDCs in 2021 but he couldn't sustain it eventually. What do you mean by: "re-including BDCs in monetary policy for this currency scheme"?

BDCs have always been buying dollars from CBN except for the ones that had withdrawn licences or those blacklisted. Though they also buy from the public and through back yard deals with commercial banks.

And honestly, this is the most unreasonable and idiotic statement I have read all day: "but here their entire world revolves around Lagos. If Lagos builds a railway that was built in Indonesia 20 years ago, the entire country thinks they've made progress. Fools"

Why would you say this?

Putindbutt:

My guy, you're an illiterate. i don't think you have ever entered basic economics class before. if you don't know something, you ask questions rather than embarrassing yourself. FG is spending $15million weekly?, who told you this bullshit?, do you think it's a bonaza or freebies that FG fritters away?.

Putindbutt:

"if BDC decide not to sell for 2years, foreign interests will flood this country with their own dollars". i bursted out laughing after reading this statement. this is the stupidity you get when people selling fan yogourt put mouth in matters that is beyond their low mental grade.

Godoverevery:


What you want is a miracle and is not possible.
This govt isn't even up to a year and you want them to make Nigeria agriculture power house.

I know much about agriculture cos am a farmer.
Even if we embark on serious Farming now it will take like 2yrs to achieve desire results.

Farming is a process and requires time.......we have annual crops etc. In ogun state where I have my farm I can tell you for a fact ogun state governor went on serious planting of cassava.

The north might have insecurity affecting farmers but do we have that in the south??
In this country decade back most family have a farm of there own but today everyone want fast money and no one want to farm again especially in the South.

Godoverevery:


Professor in economics well done.

I didn't bother reading all those epistle you wrote.

So Peter obi and atiku are politicians and all the economist talking on TV stations like Arise etc are politicians aswell....they are all afraid to tell Nigerians the truth...lol

Well done.

Godoverevery:


Both Peter obi and atiku ain't even criticizing this move by cbn but you feel you know more than everyone.

If cbn is actually defending the naira you think Peter obi and Atiku won't have alarm everyone??

All top economist on TV are in full support of this particular move even a former deputy CBN governor came out to give a positive review do you know more than them


Until I see a credible top economist come out to critic this cbn policies you are all what you wrote is invalid.

Godoverevery:


Both Peter obi and atiku ain't even criticizing this move by cbn but you feel you know more than everyone.

If cbn is actually defending the naira you think Peter obi and Atiku won't have alarm everyone??

All top economist on TV are in full support of this particular move even a former deputy CBN governor came out to give a positive review do you know more than them


Until I see a credible top economist come out to critic this cbn policies you are all what you wrote is invalid.

helinues:


Where do BDC get their dollars from? BDC decides not to sell dollar. Jesu

Abeg trading is different from economics

helinues:
Simple basic economics.

What caused the high rate of dollar ? Scarcity

Who caused the scarcity? some BDC operators, Terrorists sponsor, Binance, government too.

Now that those horading the dollar have been arrested, that means there would be more dollar in circulation hence rate reduction.

CodeTemplar:
logic also should tell you if a person sells at a loss for too long, that person will run into bankruptcy. Leave water to find its level(equilibrium) and stop sounding like a speculator who bought dollar at around N1900 with loan money.

helinues:
More like some people have been in depression since Naira started regaining strength, their evil wishes are not coming close to pass hence panicking and teeth gnashing

CodeTemplar:
Selling to BDCs below current rates doesn't automatically mean Naira is being defended.
The govt has to sell low if they feel the Naira is undervalued and higher if otherwise.

The key is getting where(price value) the demand equals supply from govt and private sellers.

About a month ago, the exchange rate of the Naira to the US Dollar, both on the official window and parallel markets, hovered around 1900 Naira per USD. Speculators were anticipating it to reach 2000 NGN/USD, which led to a daily increase in the rate, subsequently inflating prices. However, today, to the satisfaction of some and the dissatisfaction of others, the rate has stabilized around 1400 NGN/USD. What led to this stabilization? Was the Nigerian economy under attack by enemies of the state, and who saved it from impending chaos?

President Bola Ahmed Tinubu and CBN governor Olayemi Cardoso have been praised for their "Jagaban-omics" intervention, which controlled the issue. Indeed, the combined intervention of the Federal Government and CBN achieved this current stability, but through what means? Should Nigerians feel secure or be wary of the current situation? Use the attached links for news references.

Initially, one month after assuming office, President Tinubu's government, through the CBN, carelessly floated the Naira by removing all policies and structures previously used to artificially set rates. This move meant that market forces would determine the Naira's true value.
(CBN Floats Naira)

That is exactly what happened. The market forces were loud and clear that the currency is worth less than the value it was priced at and the Naira free-fall began. Why would the Federal Government float the currency without adequate analysis, planning, or investment to bolster the economy and the country's value? This decision was not surprising for a government that removed fuel subsidy in the inaugural speech.

The Federal Government and CBN who realised that the malnourished dog they brought to the dog fight has been beaten blue-black now decided to fight for their dog. "Malnourished dog" in the sense that, since 2022, accompanied by pre-existing weaknesses, the Nigerian economy had become highly unattractive to foreign investment. Negative FDI rates were recorded for the first time since 1995, several multinationals exited the country, and a substantial trade deficit was reported in Q4 2023. Nigeria was failing to attract sufficient foreign interest or money to withstand negative market pressure on the currency.
(Negative FDI)
(Multinationals dump Nigeria)
(Trade Deficit)


The Federal Government and the CBN made the following interventions in a bid to "fight for their dog":

1. They arrested Bureau De Change Operators using the EFCC and Police, turning businessmen transacting legal business into overnight criminals over alleged unfounded claims of sabotage.
(EFCC arrests BDCs).

2. The government launched a clampdown campaign against Binance, a foreign crypto exchange, resulting in the delisting of P2P markets for Naira on Binance and the controversial kidnap detention of Binance executives without charge.
(FG arrests Binance Execs.)

3. The most significant intervention involved going back to their vomit with the resumption of artificially fixing the FX rate. The CBN resumed selling the Dollar directly to select Bureau De Change operators below the prevailing market rate, which was discontinued in 2021. Understanding the influence of the parallel market, this intervention forced the rate down. The CBN maintains this artificial stability by selling $15m to BDCs weekly.
($15m per week.)


The question arises again. Should Nigerians feel secure with temporary solutions that fail to address the underlying problem? The answer is a resounding NO. Instead of engaging in senseless propaganda of claiming this or that is a genius that conquered the market, Nigerians should demand accountability from their Government. What will happen when the government can no longer afford these artificial and temporary solutions? Dollar will skyrocket even more. Where does the dollar, sold every week at cheap prices, originate, and what is the actual cost to the country to maintain this fake lifestyle fake exchange rate? Has the government failed on its election promise to remove costly subsidies and increase spending on critical sectors like security, infrastructure, and education?

The truth will always outlast propaganda.

Otolomo1:
SOO NIGERIA BE ZOOLAND TO YOU NOW.
BUT LET ELECTION COMES NOW IT WILL BE OUR NIGERIA... AND YOU WANT TO BE PROSPER ON THE LAND?
IF YOU ARE PROSPER WHAT OF YOUR CHILDREN.
IF YOU THINK YOU HAVE MADE IT ALL JUST THINK ABOUT YOUR CHILDREN WHO HAVE SEEN NOTHING.YOU BETTER WISH THIS COUNTRY WELL SO THAT YOU CAN HAVE A TASTE IN IT .
REMEMBER WHATEVER YOU WISH THIS COUNTRY WILL SURELY HIT YOU AND YOUR FAMILY THE MOST .
WISH YOU ALL THE BEST AS NIGERIAN

papiwyte:
Imagine kanu want Biafra and obi want to be president of Nigeria... What do they really want

Godons1:


It is common. With Women from the East. Some of them have more hair on their Chest, bared, moustache than some Men