₦airaland Forum

TonyeBarcanista:
Well, we need a government whose officers will show utmost regard to the legislature.

The government of Incoming President Ahmed Makarfi shall guarantee that.

ststyreal:
Nope I disagree with you, rather I would say PDP is a human face party with blood and water along with conscience flowing in their vein. They feel the pain of Dino and are only trying to be empathetic towards his plights.

tech18:
They are political hypocrites.They support whoever is opposing the Federal Government or their political foes

vislabraye:
They have their candidate..

sweerychick:
so don't be offended, if someone breaks into your house openly rapes your sister, steal your belongings, and you happen to have a neighbour who can help you call the police but instead he takes advantage of the situation like u said! I hope you won't mind that

pode:
And what make you think everyone is evil as you think or taking advantage over another's down fall, PDP is not playing games of 'eye for eye' rather they are seeking for peace that is why they are taking this steps

NOC1:
but the cyber urchins who uploaded the picture out of hatred yesterday, chose to upload only the truck like machine so as to let the Nairaland lazy youths who cannot research online kick the bucket so fast due high rise of hatred.

CilicMarin:
Useless opposition. Instead of positioning to take advantage of the vacancy that may occur, they are already playing to the gallery.

Ipob party of pigs.

muykem:
I sincerely thank Madam Ngozi for finally agree with us that GEJ was incompetent as president. How do explain a president had a meeting with economy team on issue but never get back to them when decision is been taken.

kgr8mike:
As much as I respect Ngozi, it is until GEJ comes out to say he was deceived by anybody, this story remains Ngozi's opinion.

All I know about Jonathan is that though he seeks the opinion of others as a true democrat, he takes responsibility for his actions. He looks for no one to blame.

GEJ will remain an icon for Nigerian democracy.

aribisala0:
Exteernal reserves are not what you save. They are assets of a Central Bank.
There is NEVER a time that the budget is funded from reserves.

Reserves are used to settle balance of international trade accounts. People bring in dollars in exchange for naira the reserves go up. They demand dollars in exchange for Naira they go down. The CBN job is to manage the supply of Naira and its value .

It is clear that you are an economic illiterate. That was clear a long time ago and I have perssted with this not because of you but for others reading the thread.

You are one of those with 4 core problems

1. You don't know
2 You don't know that you don't know
3. You believe that you know
4 . You have no one to tell you

I repeat there has NEVER EVER been a time that foreign reserves are spent or captured in the the budget or public finances. They are monetary and not fiscal resources

The government may have Foreign Exchange reserves but the government is NOT the CBN

The ECA is an example of this .

To Provide a fall back for the “ Rainy Day” Economies of nations sometimes experience drop in revenue and would need to fall back on their savings as a life line. A good external reserves position would readily provide this cushion and facilitate the recovery of such economies.

https://www.cbn.gov.ng/intops/ReserveMgmt.asp

Government savings

External reserves are a form of government savings that can be used when access to capital markets and borrowing is curtailed. A central bank may also build-up its reserves to accumulate wealth or provide backing for the domestic currency.


https://www.proshareng.com/news/Nigeria%20Economy/Evaluating-The-Adequacy-of-Nigeria%E2%80%99s-E/36781

seguno2:
Because southerners are stupid and foolish despite their claims of being educated and sophisticated

adanny01:
I rather say Saraki saved himself from the impeachment fallout that is to come after the process would have failed.

We all know impeaching the president in Nigeria is nearly impossible.

There was no need for Saraki to create more enemies for himself when the process was bound to fail.

aribisala0:
It is dishonest to quote two people and pretend they are one. I NEVER referenced the CBN. THAN IS A LIE

Reserves are assets of the CBN not the government . This has to be balanced with the liabilities of the CBN. You cannot talk about assets without talking about liabilities. So what are the liabilities of the CBN > It is only when you have an understanding of the CBN liabilities that you understand the matter. The naira in your pockect is an asset to you but a liability to the CBN

The money in your account is an asset to you but a liability to your bank The owners of a bank cannot use your money in your account on a so called rainy day

One simple fact whenever the foreign reserves go down is it because the government spent them? Have you ever heard of government spending reserves

The reserves go down when the CBN redeems its liabilities(Naira) by exchanging them for dollars etc i.e selling dollar reserves for naira. When reserves go down Naira in the CBN hands goes up. Naira which the CBN itself issued

What does it mean to "defend the naira"

Last year 22 bllion was remitted back home by the diaspora. That oney immediately becomes a CBN asset but also there is an Immediate equal and opposite liabilty somewhere. WHAT IS THAT. ? It is only when you understand that you can talk. To suggest that 22 bilion is available to the government for rainy day spending is not just "blind" but foolish argument. You need to keep quiet and stick to what you understand

The same thing happens with Dollar oil receipts the money enters the CBN which issues naira equivalent to the government who then use it to pay salaries . Those dollars are still CBN Assets but the Naira issued is the liability . Naira has no intrnsic value other than being backed up by CBN asssets. Otherwise the CBN could print unlimited amount of Naira

In summary without CBN assets the Naira is just toilet roll. The CBN must maintain assets to make people believe its liiabilities : THE NAIRA.
The CBN assets and liabilities are like an object and its shadow. A shadow is not something you can give away or spend

To Provide a fall back for the “ Rainy Day” Economies of nations sometimes experience drop in revenue and would need to fall back on their savings as a life line. A good external reserves position would readily provide this cushion and facilitate the recovery of such economies.

https://www.cbn.gov.ng/intops/ReserveMgmt.asp

wakaman:
Wailers!
At least she picked something to do and kept at it till she succeeded!
Let other youths at least start something and keep at it. Other than blaming their parents, their country and every person except themselves, such youths are not only lazy but failures

https://247ureports.com/wp-content/uploads/2015/06/2-3.jpg

https://247ureports.com/wp-content/uploads/2015/06/3-5.jpg


http://247ureports.com/obiano-commissions-first-ever-functional-borehole-in-nanka/

aribisala0:
When the government sells oil for dollars it hands the dollars to the CBN who prints Naira nots in return. The government then spends the naira. According to your logic the government still owns the dollars? No the people , whoever, is now holding that naira "owns" the dollars and should have access to exchange it for the naira whwnever. Inability to do so devalues the naira


External reserves are not savings .I am sorry but that is a very ignorant andt stuppid thing to say,
External reserves belong to the creditors of the CBN not the government to ask who owns the CBN is a clear indication you should no talk on this thread .You have no clue.

What is the basis of the Naira we all carry about in our pockets. Without external reserves, it is an empty promise.

To Provide a fall back for the “ Rainy Day” Economies of nations sometimes experience drop in revenue and would need to fall back on their savings as a life line. A good external reserves position would readily provide this cushion and facilitate the recovery of such economies.

https://www.cbn.gov.ng/intops/ReserveMgmt.asp

aribisala0:
I don't think the external reserve is relevant.. It is not government moneybut CBN money. Its depletion is a reflection of import demand and our lack of manufacturing capacity

External Reserves are NOT savings at all.Do not let the term "reserve" mislead you


If we have I trillion naira in circulation that 1 trillion is a CBN liability and the external reserves are CBN assets so effectively if you own 1 million then you have a share of the external reserve because the naira( CBN debt) only has value if backed up by CBN assets.

To Provide a fall back for the “ Rainy Day” Economies of nations sometimes experience drop in revenue and would need to fall back on their savings as a life line. A good external reserves position would readily provide this cushion and facilitate the recovery of such economies.

https://www.cbn.gov.ng/intops/ReserveMgmt.asp

KOPT33:
You're missing a very obvious point and I will be so kind as to lay it out for you.

In 2015, General Muhammadu Buhari came to power, amidst dwindling national reserves and fallen crude oil prices, which worked to make lean our treasury.

Those days, one of the rallying cries of the new administration was: "The GEJ government did not save any money; and, we met an empty treasury." Nigerians were egged on to hate and calumny on account of the reality of the leanness of the sovereign purse. PMB is reported to have said: "I met an empty treasury."

The prevailing climate of the time which heavily vilified the outgoing administration for all the ills of the land suddenly had another outlet to lampoon the past president with.

It is not a contestable fact that the treasury was indeed depleted: that much is known. However, due to the narrative that was bandied by the incoming administration, blame was solely heaped on the outgoing administration, all without consideration of extenuating factors.

Now, you might want to ask yourself:

1 - was the treasury depleted?
2 - If yes, were those funds legally disbursed?
3 - Could the fund in the ECA have been saved for leaner times?
4 - Could the Federal Government have insisted on saving the ECA funds without approval from the constituent units of the federation?

If you have no answers to these questions, I will lay it out for you. Please, be attentive.

The treasury was not depleted.

Benbellamor:
see what you are reduced to, for the uptent time i am a yoruba man from ekiti(ikere ekiti) if you have issues with ipobs pls go and settle with them

Dino is yet to respond personally but the police stoory doesnt add up ok, the next time you insult here i wont hesitate to have you banned! rule2 will serve you right

back to topic, police claim doesnt add up

fatboislim:
Will Buhari go there for treatment?

Banmeallday:
See the local hospital the coupist built for his Nigger Area armed guys who’s sole purpose is to protect the resources meant for international bankers.

Nawah

Dee2976:
That is the change we all so desperately wanted. One bungalow Airforce hospital to cater for Fulani herdsmen.