₦airaland Forum

ephi123:
Informative, thanks.
But at this current moment, the books are not even balanced, see how almost completely useless the naira has been rendered within a period of a year+. Forex policies are changed randomly without any serious consideration prior to implementation. That doesn't give me (or other investors) any confidence in this CBN governor, so it becomes even more annoying seeing him spend valuable time touring a farm, something he could have delegated.

As I said earlier, we do not have to agree.

I agree with you that things are not going very well and it's painful for most of us. I would rather attack the man on that, rather than picking on him for a matter like this visit. If he wants to visit his girlfriend in the village in his spare time that's his business. I will attack him on what he is doing about the economy instead. And like I said, this visit was part of his job, even if it is a secondary function.

ephi123:
The World Bank is not managing a single country's economy is it?
Do you understand the impact of people having to struggle to buy basic sustenance (food) with inflation at 17%?

And yet with all this on ground, someone is touring a farm?! Smh

Is the tour of the said farm within his official capacity given the fact that the CBN is a stakeholder in the project? Yes. The problem is you are trying to prioritize the CBN Governors job for him? And that is not within your capacity since you don't manage his schedule. We all know that the economy is bad, but at this rate you are going to ask the poor gentleman not to even go home to his wife at night. I'm sure the man has spent more time since he was appointed working on monetary policies, yet this one visit is why you must crucify him. I can only imagine if the headline had read: CBN Governor attends Daughter's Graduation Ceremony. You would have his head in the guillotine by now. Yet this visit was an official function, not personal. Give it a break sis.

ephi123:
Did I infer that the interest rate should be looked at every day in my comment?
What has been the outcome of any economic policies in the last one year + ? With the state of the economy I guess we all know the answer to that.

I am done with this argument. It is my point of view that there are more pressing things Emefiele needs to be doing with his time, no one needs to agree with this.

Oh shucks, I had to go and see this. The mistake you are making my sister is thinking that formulating monetary policies is the only way to improve the economy. And that is the mistake we have been making for years. We keep moving numbers around, juggling forex rates, interests rates and inflation rates just to try and make the books look balanced. Meanwhile there is no meaningful growth in the real sectors of the economy. No growth in manufacturing/industrial sector, no growth in the power sector, no growth in SME's, no growth in the real things that will improve the economy long term. We just keep juggling numbers for short term remedies that make us think all is reasonably well.

Meanwhile:

FUNCTIONS OF THE CENTRAL BANK OF NIGERIA

To achieve the above objectives CBN undertakes the following functions as stated in the Act. The basic functions performed by CBN can be broadly categorized into three:

(1) Traditional function;

(2) Regulatory functions, and

(3) Developmental functions.

ephi123:
Well, I don't think we are going to agree on this, so fine!

We obviously can't, but here's a parting gift from me to you though. I'm sure you know Washington D.C is a long way from Brazil. And the World Bank MD must surely have pressing business to handle at his desk and could very well delegate this trip.

Managing Director of the World Bank visits Projects in Brazil

http://www.worldbank.org/en/news/press-release/2015/02/27/managing-director-of-the-world-bank-visits-projects-in-brazil

Do enjoy your evening ma'am.

ephi123:
How does his touring this farm change anything? Can he make any decision e.g. decline not to give out loans on the basis of what he sees while on tour (considering this is a federal government project, I guess not). There is a place for delegation. He is yet to make any meaningful policy action with the economy so touring should be the least of his priorities right now.

The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis etc. Mr Emefiele should focus on his primary tasks and delegate.

And they haven't been doing any of these primary things? Seriously? Gosh, it's all over the news every other month. From the floating of the naira, to raising the MPR, to licensing Travelex, it is clear that some monetary policies are being implemented to try and stabilize the economy and manage inflation. Whether it is yielding the desired results is another thing, and is one of the reasons i don't like the CBN Governor so much, but again I repeat, that doesn't mean he shouldn't attend to other issues.

I'm glad you mentioned DELEGATION. It is a CEO's prerogative to choose what to delegate and when. It also shows that you agree that running the CBN is not a one man show. There are economic strategists within the CBN and Ministry of Finance whose job it is to come up with these policies and report to the head huncho. This is basic management structure. Your argument is like saying because there are many sick and dying patients at LUTH, the Chief Medical Director should not attend a seminar where he is to give a lecture until everyone in the hospital is cured and healthy again because that is his primary function.

The link below shows that Emeifele also delegates. A one day visit to the farm will not cripple the economy.

Emefiele, represented by his Special Adviser on Development Finance, Mr Paul Eluhaiwe said this on Tuesday in Kebbi after inspecting the Wasagu Soya bean project and launching of the dry season farming.
Read more at http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html#6HRLaHVxjVmQ63m7.99

But if fussing on this makes you sleep easy at night, then enjoy.

The irony in her name though. RAHAB!!!

Goodluck girl. Stay strong.

ephi123:
Excuse me. Nigeria is not the only country with a Central Bank governor. Other countries do, and we can see how they carry out their functions there.

Dollar is at what price today? Forex changes up and down, economy is tanking and the CBN governor is touring a farm?! This has nothing to do with criticizing, but rather pointing out that he is not focusing on what he is meant to be focusing on otherwise we wouldn't have these whack forex policies we currently have.

So because the economy is down, if he has other secondary duties or events to attend to, he shouldn't do so? Mind you, is diversifying the economy through agriculture not part of the ways to fix the economy? And this is a policy that the CBN has invested billions in, by making funds available to farmers. So inspecting the CBN's investments is not something he should do?

I don't even like Emeifele, but I don't see what the fuss is here? Does he do a tour of the farm everyday?


http://punchng.com/cbn-provides-rice-farmers-with-n4-9bn-loan/

http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html

davidif:
That would be the commercial banks and the ministry of agriculture sir and NOT the central bank.

Is this a factual statement or you are assuming? Google is just a click away bro.

http://punchng.com/cbn-provides-rice-farmers-with-n4-9bn-loan/

http://www.dailytrust.com.ng/news/general/cbn-spends-n23bn-to-improve-local-rice-soya-bean-production--emefiele/169581.html

ephi123:
Exactly. I don't understand how things are done in Nigeria. There is a Minister of Agriculture, I am sure there is a commissioner for Agriculture as well, so how the CBN government will leave the key tasks he is meant to be doing to tour farms is simply ridiculous.

Sometimes we fuss over things we don't have direct knowledge of. Since you didn't employ the man, how do you know what his entire job description entails? The article mentions "stakeholders" and I guess the CBN is one of them. Even in my organization, our Finance Manager visits the field from time to time to assess progress and level of projects just to ensure that vendors are not shortchanging the company.

We don't have to criticize everything, especially if we don't have insider knowledge of the workings of an organization.

efilefun:
2 kids at 23 and still living with her father why won't they lure her into prostitution

She got tired of same sex she rushed into at an early age.... lol wonders sha never end so something wey dey sweet person self dey tire person

Since she started early, I guess she decided to retire early.

melodyogonna:
which avengers want amnesty? their withdrawn dialogue is for restructuring not amnesty.

Are you an Avenger? #justasking

I get irritated when people make these condescending comments about Nigerians or Africans. So if this had happened in America or Europe, no one would talk about it right? You wouldn't find anyone who would condemn it because all Americans and Europeans are liberal minded right?

Please stop with the B.S! Did all Americans applaud Kim Kardashian's sextape? Those exposing Melanie Trump's porn/lesbian videos are Nigerians right?

Enough of the crap. In every society you have liberals and conservatives, moralists and free thinkers. Some will criticize, some will say its their life.

phoenix90:
A project initiated by GEJ's govt. I just don't understand why the man has been vilified so much despite his giant strides. Well posterity is still out with the gavel. http://www.blackborderbuild.com/industry--services/kashimbila-hydropower-station-taraba

Ask Femi Fani Kayode, Dokpesi and all those who were involved in GEJ's election campaign. Those who should have been highlighting GEJ's achievements, but were instead given PMB more publicity with their idiotic hate documentaries and moronic propaganda. [b][/b]

jerryfisher:
that's a contest non has been on the seat as deputy,but are fighting for the chairmanship seat. its different form that of timi's case. If not for sentiment timi was or is suppose to be automatically occupying that seat a long time ago

Automatically? There's nothing automatic about such promotion bro. It's is the party's prerogative to decide who mans that role. Even the Vice President does not automatically become the party's candidate for President after the incumbents tenure.

demolinka:
Man City to win 3-1. Wash hout!

Come again?

Mandynews:
Miss Anambra Chidinma Cries Out – My BlackMailest Will Shoot Me If i Talk

Chidinma okeke didnt come up for d press conference reasons that her blackmailer said to her in a phone call conversation that if she shows up and make any statement she will be shot. This was gotten from her post on Facebook few hours after the press conference was schedule to begin. All means of getting to her was abortive. Information reaching the press men who were dia at NUJ center got the info abt the 3rd girl who is on d run after sending the video to a guy due to her carelessness. The incident is now open for law to take its full course on her. The question is. Is chidinma innocent? Is this a kind of political stuff to bring Anambra to the black book?

See What Chidinma Wrote below.

The Question Again is Who Wants To take this Girls Life


Drop Your Advice In The comment Box

Source: http://lifedrama.com.ng/miss-anambra-chidinma-cries-out-my-blackmailest-will-shoot-me-if-i-talk/

Oga OP, what has the actions of one girl got to do with bringing Anambra "to the black book?" Anambra is bigger than any individual. Let her face her issues biko. My dear, from photoshop to "blackmailest", issorai, kwantinue. Quite frankly, I don't even care.

jerryfisher:
all these nonsense can't happen in PDP!!!!dat serves him right sha,,NTORR

You mean the PDP where they are fighting for the National Chairman's seat. Please tell me more.

I don't really care who APC's spokesman is, but this Timi Frank is a clown. Is that position is birth right or something? Just this small position he is "kicking" up dust. What if he was the National Chairman of the party? We no go here word be dat o. Yeye dey smell.

I wonder if some of the people supporting this move would have the same opinion if it was the executive that enacted or even suggested that any petitions against members of the executive must not be leaked to the press/public? They would have run amok shouting that Buhari wants to gag the press blah, blah, blah.

Sadly, they think this is all about Buhari, until it comes to bite them in the ass.

The one that really gets to me is seeing kids in the back seat jumping up and down without being strapped in. I keep wondering what their parents are thinking. What if you have to brake suddenly? the kid is bound to fall or slam into the back of your front seats.

I have always strapped my daughter in from as early as when she stopped using a car seat. Now, she is so used to it that she straps the belt on herself immediately she gets in the car. Even if we don't make it compulsory for adults, every child under the age of 12 should use a seatbelt evn in the back seat.

Originalsly:
This is pretty much the same as Op.... and your mindset is the same.... your lane is clear and whatever is happening in the other lanes is not your business. If you were a defensive driver...most likely the accident could've been avoided. How?... you noticed the car speeding in the slow lane.... noticed the Danfo suddenly stopped to drop off a passenger. As soon as the Danfo braked...before it came to a stop... you should have anticipated the speeding car may take evasive action... which was to come towards your lane. At that point you had two options..... to speed up or brake. He didn't signal so I guess all was well until he was about to cut you off... only then you braked. Your words. Unlike Op... your hitting his front fender would make you not at fault...according to the damage....not according to your statement! If you had hit from front door towards the back of the car... you would share the blame...according to the damage. Hit back..like op..you take all the blame. Observe and anticipate to avoid accidents. Even if unavoidable...the damage can indicate the other person was at fault.

It's always very easy to give this kind of advice until it happens to you. Defensive driver kwa? Issokay. Pray you don't meet what is beyond your control. I hope you know that every car has a rate at which it decelerates and it is the dependent on many factors including the type of road surface, speed at which you are moving and even your tyres. As much as it is said that you should assume you are the only sane one on the road, it is not so easy to avoid a vehicle that is coming straight at you, or suddenly broadsides you.

In sane societies, this farce of a defense that people make would never hold water. Not when you're probably captured on CCTV. But alas, in Nigeria, anything goes.

laivwire:
Well the road in front was clear for me, she dove in at the last possible second and the site of impact was to her rear left end. Honestly I feel she was clearly at fault as no superman could stop my vehicle within a split second as such. I guess gender quality issues played a role there too though but lesson learned nonetheless.

Bro, people just use that nonsense excuse to get away with bad driving. You want to switch lanes from slow lane (right) to fast lane (left) and you don't indicate/trafficate and ensure that there are no oncoming vehicles, you just switch lanes. What is that? What happened to giving way to traffic on your left?

I had a similar experience with some guys who turned out to be drunk. They were speeding down the slow lane while I was on the fast lane. Suddenly a danfo stopped at the bus stop to drop passengers, blocking their path. Without any thought, without indicating, the driver just swung the nose of his car in front of me. I slammed the brakes and even tried swinging away from him, but couldn't because of the concrete culvert on my left. Next thing I hit him on his left fender just before the driver's door (for you to know that we were almost parallel when he switched lanes.

Next thing I hear, I hit him from behind, I'm guilty. I went ballistic. You are approaching a parked car, you didn't slow down, indicate, check your mirror for oncoming traffic, you just swung your car onto the next lane. Hell no. After much drama, and intervention by bystanders, we both left the scene to individually go and attend to our damages. The guy and his friends were reeking of alcohol.

Before you switch lanes from right to a faster left lane, you must be sure the coast is clear.

Chukzyfcb:
lool exactly, he is just looking for a way to vent his anger. He has been into tomato production even before buharis wife commissioned the factory. He just can't gain market share, I don't think his marketing team is that aggressive tho. You are right when you say he needs to sell his old stock, but the problem he will have is pricing especially in this time of recession

Yeah. I feel sorry for him though. It's a tough time for business owners. He needs to restrategize for this difficult times and keep his company afloat till the tide turns. I'm not sure relocating is the answer right now. That in itself is serious investment.

Chukzyfcb:
well it's not as easy as you pointed out, erisco products are slightly higher than most of the imported tomato brands we have, he is even managing to stay afloat with a higher price margin, if he decides to obtain forex exchange from the banks at a higher rate, it will further dampen his woes he has already accumulated.

The highlighted quote is in itself confusing. You have stock worth N6b which you are yet to sell, yet you are looking for forex to buy more machinery. To do what? Produce more when you haven't sold old stock?

I think the most important thing right now for this company is finding a way to sell the present goods in stock and ploughing that back into the business to keep it afloat until we get out of this mess. Any expansion drive may have to wait for now.

MadamExcellency:
As I always say, Buhari is not business friendly. The CBN is keeping the forex for Dangote, notwithstanding that some of his business interests in other African countries is sapping our scarce forex.

Forget about the soundbites, Mr President's standing order to CBN cannot be overrule hence Erisco should approach a commercial bank for a higher exchange rate and consequently transfers the cost to the consumers.

As usual, we leave the real issues and begin to play this boring PMB vs. GEJ political game.

When have Nigerian banks ever been friendly to SME's be it under OBJ, Year Adua, GEJ or PMB? You are right about one thing though, they would all rather give the forex to the likes of Dangote, Otedola and co. The commercial banks have not helped this gentleman either. Four banks would rather come together to finance Dangote.

Why do our banks continue to play lip service to financing SME's? This is the real issue, not all this PMB-GEJ arguments.

johnstar:
Choi arsenal spoil my ticket sha




Meanwhile

Guy, are you sure you have not been spying on my football manager? Na so dem fire Wenger o!

johnwizey:
ENEMY OF PROGRESS

Oga, you were saying? Shey I nor tell you say Arsenal go still lose?

dabossman:
Signing in for the new season. Arsenal go still lose this match.

A prophet is without honour even on Nairaland. Shey I nor talk am? Mukina, how market?

johnwizey:
ENEMY OF PROGRESS

Arsenal dey progress?

Signing in for the new season. Arsenal go still lose this match.

stevejireh01:
it was just too annoying, I spent most of my datas and time searching for channels that would show the match. Pls do you know any other channel one could stream these kind of matches with?

Try cricfree.tv

safarigirl:
Why dem like dey pack ET for us? 5 minutes against Japan, now 4 minutes. Why not 2 minutes?

Congrats to the boys

Sadly, Algeria are out of the tourney following 2 losses and SA are on their way out

Safarigirl, you hear say Berisha of Sweden U17 from 2013 is now clubless? This dude scored 7 goals back then o. I guess he is over aged. Abi no be so our people dey always talk? Small time now you will hear "where is Chrisantus"