₦airaland Forum

xandy84:
You have some valid points but have you for once ponder what happen to a nation like like Nigeria whose foreign earning come from crude oil sale? Major exporter of crude oil like Nigeria has taken a major hit due to fall in crude oil price globally and Nigeria will not the exception. Strong Naira means our export will be expensive and import affordable to average Nigerians which will bring deficit balance of payment and the government will have to continue borrowing to finance the budget and this will send us toward Zimbabwe's way. As much as devaluation of Naira has some disadvantages, it is out best shot if we want to stimulate the economy and be able to export agricultural produce.

This is just one of the Economic theories they've propounded in order to achieve their aim.

The situation on ground does not warrant further devaluation, at least for now. The little cash Nigerians have will become less capable of paying the bills. People will start starving and this may lead to civil unrest and revolution (just like it happened in Greece that led to a change of government yet, they have not recovered).

Government cannot save from all fronts. Our foreign reserves can still cushion the imbalance pending when the economy starts to grow again.

Foreign investors know that their hot cash investment will yield great fruit if the Naira is left to the forces of Open market but when the revolution starts, they will be the first to take their money elsewhere and we will be the ones to suffer.

PS. Zimbabwe's economy failed because of lose government interference in economic activity of a developing nation.

Let's all Say NO to Naira devaluation.

Hmm..

Inside those Hijab there could be something o..
Nigeria security forces and the general public are hereby advised to steer clear.

Ok oo.. No work.. soon somebody will marry another underage girl.

God save the bankers and their banks.
Btw, why can't these people just get it into their skull? WE ARE NOT DEVALUING THE NAIRA AGAIN FOR NOW.

The CBN governor, Finance minister, and indeed President MB should reject in all ramifications these calls from IMF and these investors to further devalue the Naira, or allow it to be controlled by open market forces.

Should the Naira be devalued further, prices will skyrocket, inflation will go up, Naira will have no value, civil servants will demand for salary increase, poverty will reign supreme.

All these media sponsored campaigns are from heavy foreign investors who will make huge margins from their "hot cash" investments. They have been propounding all sorts of economic theories in support of devaluation. The same way they propounded theories upon theories for Greece and Greece is now forever indebted to EU nations and IMF with no sight of recovery.

We need sustainable, gradual growth that includes the low, average, middle income earners in the country.

Emefiele has my support on his theories.

not interested in celebrity gossips.
too much business to attend to.

Better get clarification form your office.

If it's a deserved pay, go ahead and spend it.

If it's a mistake, find a way of making reversal.

Anyhow you want it, if the money is not meant to be credited to you, the bank will eventually debit your account for it, and it will be most painful when you had already spent the money.

you can ask lalasticlala the predicaments of all those that got "unknown" funds from Dasuki.

this story get too much k-leg..

summary pls.

For all her visit and all IMF's push, the CBN governor, Finance minister, and indeed President MB should reject in all ramifications these calls from IMF to further devalue the Naira, or allow it to be controlled by open market forces.

Should the Naira be devalued further, prices will skyrocket, inflation will go up, Naira will have no value, civil servants will demand for salary increase, poverty will reign supreme.

All these media sponsored campaigns are from heavy foreign investors who will make huge margins from their "hot cash" investments.

We need sustainable, gradual growth that includes the low, average, middle income earners in the country.

In as much as legal decisions should be streamlined we should also know that all the different cases have their own different peculiarities which could change the outcome of the case.
Judges should be allowed the benefit of the doubt that they have the all the information available to them to dispense justice.
When you disagree, go to supreme Court

difakozigi:
Bros d problem be say even we wey no follow vote for baba go dey claim say we vote for am. Nobody wey vote for baba during d election no dey c d good and democratic change now. So just hold your corner, nobody wan know anything from u. Wailer in disguise like u. mtcheew.

Off point.
Not everyone that voted for "baba" is a Zòmbie. There are still some reasonable people among them who know when to call the President to order in their own capacity.
Continue your blind support. Nigeria will never be Zimbabwe that will be left in the hands of crass undemocrats.

donralph2000:
Concocted court orders you meant........!!! He knows more than that, he's acting empirically. ........I really don't expect him to succumb to court orders easily when we are talking of corrupt officers..........He made mention in his interview why he disobeyed court orders and he said....Nigerians know more than that, him not granting the will of the court shows how serious he is to making sure justice is being met. He added that those tried in court are not ordinary Nigerians, they are top officials in government who can afford a S.A.N to deliberate on their b3half. .......and a case can only be won based on the skills and experiences of the defendant. #Im fully in support of his actions to curb corruption to minimal.

Concocted court orders? There are processes to follow in dealing with crimes and criminals no matter who or what their crime is.
The government took them to court and the court made some decisions. Those decisions ought to be followed or appealed. For the President to come on National television to imply that those court orders are deliberately disregarded, and a lot of Nigerians (especially youths) to support such position leaves me to be seriously worried.
This is how Idi Amin, Robert Mugabe and the likes started. Good intentions but the law never allowed them. The started disobeying the courts, the people never saw it as wrong till they became laws unto themselves.

Notice where these people are from? The supposed corruption-free part of the country.

The challenges are enormous. The desire may be there but the KING has made himself the Law. The first thing we voted you in is to hold the tenets of democracy strong.
When the President is apparently endorsing the illegal "kidnapping" of its citizens live on National television, then we really should be worried not just because of the present predicament but because we are afraid that if our legislative and judicial arms arm muscled into acceptance of gross illegality we may be heading to anarchy.
So Mr President, start the new year with respecting court orders.

Achieved a lot, failed a little.
2015 was good. 2016 Is gonna be better.

Waiting..

Wanted to buy a car this January but the way these guys are going about this austerity measures in 2016 I'd rather continue with taxi.

Plan to set up a small Agric business for my parents to manage.

I'm gonna pay my sister's school fees to the final time. So happy. 5 years paying schl fees, accommodation, books and all. She's keeping faith and making good grades so I'm happy. I made good grades myself.

Gotta enrol for courses in Finance. Need to improve my knowledge of how money works.

Happy new year NL.

H

Crap.

When King Bubu himself is still waiting for the Report form Kaduna State's Panel of Inquiry.

Zakyzaky or whatever his name is not gonna get justice. It's official. We have a King and he's LAW unto himself.

Cross over.

I've booked my ticket to watch the cross over show live...

Religious gathering..social gathering .

I congratulate Ndi Abia for the good news. Alex Otti has always been their man. I made mention of it sometime ago. Just like Alex just like Peter Obi, the case will end at the Supreme Court but justice will prevail.
Ikpeazu can present all the budgets in the world, he can do all the roads (that's the easiest thing clueless governor run and do whenever they still have cases at the tribunal) but just like Ngige, he'll definitely be shown the exit door by the Supreme Court.
God bless Alex Otti., God bless Abia State - God's own State.
From your brother from Anambra.

Oricha62:
[color=#006600][/color]

I need biblical proof of christmas from the Bible?

Dey there de wait na. OYO is your case.

Na your own

Haha.

One more hurdle to cross.

I wish Darius delivers on the mandate of his people.

I thought one baba said that these guys have been technically defeated. Seems BH are not playing the technical game with him.
Buhari should wake up to the reality that BH are not conventional soldiers and they don't do technicalities.
They're either wiped out completely by Dec 31 or his government failed.
He shouldn't beat his drum yet as there's nothing to celebrate.
Oga Lai...Baba Bubu..wake up and work.

Merry Christmas

Story .

Good initiative. The problem is that we don't have credible credit rating system in the country and the bank's will never be comfortable lending (or giving Bank Gauranty) to Start ups.
If this us strictly monitored and adequately implemented, the SME sector of the economy will be adequately stimulated.
Young Entrepreneurs should come together and put together profitable and sustainable ideas that can win them the facilities.

I wish we had Emefiele as CBN governor all these while, not this Northern King we had that turned the bank as a political party and propaganda unit.

Continue. Who has the time to be listening to the bullsh*t of this administration.

And what are his crimes really? Heartless government, massacring its citizens for no just cause. From harmless Biafra protesters to a religious procession group among whom are children and women. Yet we have a President who has placed a premium on what he says to his people.

Media prosecution continues. I weep for my dear Nigeria, we're being taken back in time.

Spend less.

Everybody wants to be importing things into the country. Things that could easily be bought within the country are bought from overseas, increasing the pressure on forex.

Banks are finding it difficult to offset these forex commitments.

Nigerians should begin to look inwards. We must not buy from foreign websites/online stores. Let's start to buy from Naira denominated stores or even from local stores.

Unnecessary travels to Dubai, UAE, Saudi Arabia, Brazil etc just for vacation and shopping should be curtailed. We have good vacation spots in Naija and we can buy a lot better and higher quality stuff here too.

Interesting, especially for some of us who are planning on establishing our own businesses soon.

A lot of people do not even understand the reason for BDCs in the first place.

BDCs were originally intended to be recipient of foreign currency (FX - Foreign Exchange) from the CBN so they can sell at at margin to the public for the SOLE aim of personal travel allowance (PTA). This was when there was very little means of making personal purchases outside the country with the Naira.

This initiative was basterdized by the BDCs because of very weak policies and monitoring by the CBN. BDCS rather than selling FX to individuals (to the max of $4000 per quarter) they now started selling to small(and sometimes big) businesses and illegal outfits.

FX for businesses, imports and other invisible payments(like school fees, medical treatment, payment for service, etc) are to be monitored by the CBN through the use of Form M and Form A obtained from the banks which require some form of documentation, but these businesses end up sourcing their FX from the BDCs thereby hiding their intent/purpose for such purchases.

Every Tom , Dick and Harry business started running to the BDCs for FX to import all manner of rubbish into the country (even things that could easily be sourced locally started getting imported because BDCs were funding them without recourse to any economic implications. A lot of these imported items end up being seized/burnt by the customs and the money wasted). With increasing demand for FX by these businesses and illegal outfits on BDCs, the margin started increasing too. And we are where we are today - NGN260 to $1. Dearth in local production because everything is imported. Improper documentation of business activities, loss of revenue to the government, and most importantly, untraceable funds that may have gone to terrorism.

Solution. We have gone beyond cash based transaction as most banks now offer cards that can be used on foreign platforms for making payments. The issuance of cash FX to customers for whatever reason should be stopped. BDCs should be phased out as there is no need for them again.

Benefits -
Enhanced monitoring of cash.
Only businesses with valid need for importation of allowed goods will be availed FX by the use of Form M.

This is a laudable initiative by the CBN and should be strictly monitored.

PS.
A lot of these BDC agents are approaching bankers and soliciting random customers' BVNs and corresponding names.

And what has the President said of this slow but definitely growing fire in his country? Nothing.
It's unfortunate that we're left with a President who places a premium on when to tslk to his ppl.