₦airaland Forum

This is serious! If you want to sell, that's the exchange rate; no room for buying at all. If you want to buy, go to licensed BDC with your documents.

CBN don hold the blokos of hoarders fa!

JoshTim:
It will take time before food prices come down. Understand simple economics. The recovery rate of prices Is slower than the recovery rate of naira because inventory stock up at the old prices will have to be sold first based on First in First out basis.

Hmnn! FIFO, LIFO, LILO, FILO - Accounting terms

DeLaRue:
I think you're wrong.

Shareholders fund is not the same as Share capital.

Based on the information you attached, Wema's current share capital is only N6.3b.

However, I believe (I stand to be corrected) it can convert part of its Shareholders fund of N118b to boost its share capital by for example, issuing bonus shares to existing shareholders.

Issued capital plus reserved is equal to new capital.

13 billion shares issued at the nominal price of 50k is equal to 6.3 billion.

Companies usually issue shares at a premium far above the nominal price of 50k; they could sell at 1,000 per share. The difference between the nominal and selling price is transferred to Reserve.

May I ask you? Have you bought shares from primary market before? If yes, bring out the prospectus and educate yourself.

If you make profit and plough it back into your business, does your capital increase or decrease? Come on, this is basic accounting! Weren't you a commercial student in secondary school?

Tareq1105:
The Odua Govs could decide to raise the shares of their respective state.

I know the Govs would step in.

Wema will surpass target without the governors! They're targeting 158b this year end. Are you saying they can't raise 43b in one year?

You guys are underestimating the innovative bank.

smasher1:
Where Wema bank want see that kind money?

Don't be lazy guy!

Wema has 118b already projecting 156b this year

Chikacha:
This guy, you are always bitter. When bear market started, I remember you having this bitter energy, now again, after many years of pains that we have been through, you went away for a while. Even though we all can now see the light at the end of the tunnel, And even though you know that people know you well here and can trust you, you are still very bitter.

You nor dey fit let something slide self, what happened to maturity, my brother? And weytin dem do you here wey them never do another person. Nor be openheaven help people finish for one whole circle, wey them dey call out from time to time say na scammer. Shey na like this e go dey ni, Abi you go change when you become millionaire ni. Shey people go see food collect from your hand so, Why so much bitterness?

You be idiot sha! Why blaming someone who is being wrongly accused! Are you on drugs or what?

aceman88:
Bought 1450 at Douglas, Owerri today.

The first Mallam I met said he was selling 1480
The second one said 1475

You still dey do physical dollar! You be olodo sha! Continue to dey buy am 2k. I believe say na smuggling you dey do that's why you no want pass through the CBN for your Dollar.

Omo, na true o! In Lagos and Kwara state as well

https://fij.ng/article/naira-gains-value-exchanges-for-n900-per-dollar-in-lagos/

eeithis:
I think I will support her since you decided to get a tattoo kukuma bleach join am na!!

Tattoo Don dey for Yorubaland before oyinbo come! My grandma get tattoo wela. Nothing wrong with ratio;

Robnectar:
Swear down

You called someone a scammer and you can't prove it! You no normal at all.

Denrele, open him yansh more jare.

SmartyPants:
Lol... I think you would be best served by listening here because your responses are all over the place.

1. I have just demonstrated to you that increasing productivity can trigger demand-pull inflation while making the point that we can't afford extra inflation (regardless of whether the current inflation is cost-driven). I further concluded by agreeing that the steps you recommended can come in the future. That is to say: bring cost-push inflation to a halt first, then increase production afterwards, so that demand-pull inflation does not add to the existing cosh push inflation. Is that a complex argument?

2. The MPR was only just increased (nearly doubled) just a month ago. This obviously begs the question, why didn't the previously lower rates stimulate increased business investment and productivity to slow down inflation? The answer is that, excess liquidity has been going into the purchase of US dollars as a high-growth asset, thus driving the cost-push inflation you spoke of, given Nigeria's import dependence. So if you like, reduce the MPR to 1% - it won't increase business spending as long as the dollar remains overvalued to the naira. This leads to point 3.

3. As I earlier mentioned in my first reply, increasing the MPR is also about attracting foreign portfolio investment which is critical for driving down the cost of the USD dollar, which is the major driver of cost push inflation at the moment. Drive down the cost of the dollar and bring the naira to its true value and we can cycle back to point one: tackle cost factors first then stimulate the economy second.

Brilliant!

Palliatives no dey reach south? Even when Buhari was there, na only north I dey see oaliatives. Southern politicians, na wa for Una o.

InvertedHammer:
/
While we shout "inflation", it will be proactive to understand the causes of inflation in Nigeria --insecurity begets food inflation as kidnappers prevent farmers from unhindered access to their farms. Let's not delve into abrupt removal of oil subsidy without planning ahead for palliatives. Floating of naira when the country is heavily import-dependent with no production/manufacturing base and the only major source of forex known as oil is marred by corruption and theft. Even in the forex transactions, corruption via arbitrage and prebendalism are the orders of the day. What's the nation's foreign reserve?

As noted earlier, what Cardoso and team are doing is akin to signing up Nasarawa United FC to play in the English Premier League. A child must learn to walk first before attempting to run.

The current problem in Nigeria is not inflation but stagflation--inflation in a stagnant economy.

/

I asked you a simple question, if you were the CBN governor, would you prioritise growth over price stability?

Monetary police to tackle inflation; and fiscal policy to tackle economic stagnation! And that's what the CBN is doing and they are on the right path.

Ensure price stability first and then start measures to spur growth.

Way to go! Weak banks should be acquired and merge with others.

And Buhari was granting amnesty to terrorists and even recruited them into the military.

Buhari is a terrorist who supplied Fulani bandits with weapons to inflict pains on Nigerians just to achieve his fulanisation agenda by bringing foreign Fulanis to our dear country to seize land for grazing.

InvertedHammer:
/
He used the prescription for asthma in Europe to try to cure cancer in Zimbabwe. In other words, he is using the textbook implementation (increase rate to mop excess liquidity) used by Western developed economies to fix Nigeria's voodoo economy. Comparatively Japan (the 4th largest economy in the world) just increased their monetary policy rate from negative to 0 - 0.1% and that's the first rate hike in 17 years. China's prime rate remains unchanged at 3.95%.

Perhaps someone can explain how a poor country trying to spur economic growth will increase her MPR to 24.75% Shylock rate. Nigerian economy is in coma and Cardoso is feeding it Sniper to quicken her death.

/

So, economic growth is the only macroeconomic challenge Nigeria has, right? What about inflation, price stability, etc.?

In this present economic situation, which of the challenges needs to be prioritised? Don't you think when the exchange rate is stable, there would be confidence in the economy and price would stabilise as the number one cause of inflation in Nigeria today is weak exchange rate? I hope you know it's not only monetary policy that can be used to spur growth? Fiscal policy is available too!

It's still low compared with inflation rate! Inflation is currently 28% and interest should be above that; we are still operating negative interest rate (real).

For me to buy government bonds, interest rate on the bonds must be higher than inflation rate for me to make profit.

CBN is on the right path with the increase, but not enough, it needs to be raised higher as inflation rate rises.

Good job CBN!

Fulanis should be sent back to Mauritania! They're troublemakers and terrorists using Islam to dominate others.

It's high time Hausas dealt with their minority oppressors! All Fulani Emirs should be removed and replaced with Hausas.

Hausas, wake up!

Yorubas having Gaas (Fulani settlements) around you, they will lay claim to that land in future, chase them away now!

Inspirer1:
When I see videos like this, I do feel for the soldiers they must have killed to get the uniform and guns

No soldier was killed! Soldiers are the bandits.

Fulani bandits armed by Buhari through the Nigeria's military.

Can an average Nigerian afford the guns they're carrying? They were given military uniforms by the Nigeria army ordered by the chief terrorist, Muhamadu Buhari.

See this cunning Igbo man visiting his son.

OBJ is Igbo meaning Yoruba man has never been president of Nigeria.

4right:
CAPITAL BIG LIES!!!!

I deal with Economics data analysis.
The fall across the Board against almost all currencies been Pounds or Eur, it was due to what America FED (Just like CBN for Nigeria ,is FED for USA).
The FED decided to keep the National Interest Rate on Changed 5.5%.
Note: - CBN is trying but they are not responsible for this recent developments.

Kwayet! What do you know about fundamental analysis?

The UNCH by the Fed actually strengthened the Dollar! EURUSD GBPUSD, etc dropping currently; while NGNUSD is rising.

Nigerians flocking to okx and bybit, watch your back!

If you want to speculate on the global financial markets, go learn technical analysis and join regulated brokers; do away with crypto exchanges. You can even speculate on cryptos through brokers, along with Gold, Silver, palladium, indices, and currencies.

I know because of mental laziness, you wouldn't learn technical analysis but opt for less stressful spot trading - buy and relax like a retiree.

Come on, use your young brain and study charts to predict the direction of the markets and make money for yourself.

They don't want the hard work of studying charts but prefer the executive (lazy) style of trading.

So you Ijaws called on the military to fight for you, right? Meaning, you Ijaws caused the death of soldiers killed.

Why should the military take sides in a communal conflict? Are the two communities not Nigerians?

So soldiers were siding with the Ijaws to kill Urhobos? And you want the Urhubos to watch and be killed by soldiers without fighting.

If this is true, the ambush is justified! The army or the police mustn't take sides in communal conflicts; must be neutral.

Baxilexi:
Agreed, developed countries also recognize that some incomes are un-taxable and are transparent with taxes and also regulate inflation and price control.

What level of income is un-taxable in Nigeria? For the UK it’s 12,470£ and below.

If you've got enough money to travel out, you're definitely taxable.

alphaNomega:
They will still not give you forex. Tinubu is a tax man so any scheme that makes you share your financial stand is a welcome idea to him.

That man's policy is always "how much money can I collect from my constituency?"

Without tax, we ain't going nowhere. Developed countries don't play with taxes!

Omo, naija go better o! More money for states like Lagos, Edo, Oyo, Ogun, and the FCT.; Homes of travellers!

keymatt:
Let's blame Binance!!!!!!!!!!

and

Illiterates spotted! 'Naira rises' not 'Naira falls'. Why should they blame anyone when our Naira is appreciating; Binance and lazy arbitrageurs like you have been kicked out, hence this good news.

https://www.cbn.gov.ng/rates/exchratebycurrency.asp

The closing price on Friday was 1609; and today's Monday 18th March 2023, the exchange rate closed at 1572, indicating an appreciation of 2.3%

The massacre may have been carried out by the Ijaws not Urhobos because a mansion located between the communities owned by Tompolo man, was searched and human parts and army uniforms were found; human sacrifice to Egbesu god takes place within the mansion; hence the movement of the military to Bayelsa, the homeland of the Ijaws.

All fingers point to the Ijaws not Urhobos.

https://www.nairaland.com/8033206/real-causes-crises-delta-which