₦airaland Forum

IbeOkehie:
Thanks for the reply. I fully agree with you that floating currency is the best policy. Some of the details you've pointed at give a wrong impression of certain situations.



The Central Bank sets interest rates and banks follow that because they have no choice, because the government is the sole supplier of currency. Lack of trust is a small contributor to high interest rates. Another contributor is lack of collateral. Whatever the case, no bank or lender can AFFORD to set an interest rate less than the Central Bank rate in any country.



Japan has a free floating currency. When a Central Bank trades currency or sets interest rates to influence the value of its own currency, that is still a full float because the marketplace can still legally RESPOND via price. The currency control I'm referring to is when a currency is PEGGED at a fixed price, such as has been the case in Nigeria for so long. The only way to respond to the currency fix is to enter the ILLEGAL BLACK MARKET or parallel market. Such a fix incompatible with a free float and is unsustainable in the long run as the UK found out in 1992 and Switzerland in 2005. Nigeria is the latest example of that futility.

Thanks.

Bobloco:
It's now obvious that those surrounding Tinubu are mad men

Imagine comparing Trump debate with Kamala to Peter Obi when Tinubu is notorious for running away from debates

AntiMarxist:
Comparing a lesbo to a flaming fagg0t


That lesbo dyke can have children any time she decides to but that flaming faggin is on a sure path to AIDS and anal cancer.

MC is guarranteed a continuation of his bloodline but your Messiah's own has already ended.

Pity.

AntiMarxist:
What about your Obi's son?

First class sperm guzzler.


MC has shown that he is a far better father and mentor to his own kids than your messiah

Ishilove:
Stories like these just makes my blood boil

MajorOvakporaye:
Tinubu the drug criminal has finished this country. So university lecturers now dance to entertain their students?

“Though painful in the short term, the removal of fuel subsidies is designed to free up budgetary resources for critical investments in infrastructure and social services.

“The adjustment of the monetary policy rate, a move aimed at curbing inflation and fostering a more market-oriented exchange rate system,” he said.

BarrElChapo:
I thought some days ago, it the news that NNPCL would be the sole buyer of PMS from dangote just as they're the sole importer of fuel in Nigeria ? Was it an incorrect information?

iwaeda:
If Dangote's refinery is up and running, there will not be this much noise. The truth is we are still test running. Gwo gwo ngwo.

iwaeda:
Dangote refinery the more you know, the less you understand. We are still waiting for the petrol to flood the market.

Ebubu:
White elephant project. This is not the need of Anambra state. This is supposed to be private sector driven. Government has no basis to be engaging in building hotels or recreation center. Is thriving landmark owned by govenrment? Some things are better left for private sector

Anambra's single lane and dilapidated, narrow roads need to be dualised. Tiny one lane roads yappa for Anambra state. And they're not even tidy .