₦airaland Forum

Buhary 'poorly Qualified' with NEPA Bill to be the President of Nigeria at this perilous time.

modath:
PMB has only spent 8mths in 17yrs of post miltary rule, how is the crazy & unprofitable for Agro biz folks interest rate regime his fault

So you were in yonder all these while & never saw anything wrong till the evil nest of killers you support lost the centre!!

BTW, I'm finding it hard to believe that you have the kind of resources to sponsor a candidate in an election & also have the time to spend here to lament in a woe begotten manner all day, everyday... & even if you do, you only did as an investment (looter by association)which implies that you are as bad as the man you wail about everyday...

Mirror, mirror, who is fairer of them all, look deep at the reflection, high chief stone thrower.

Let go of political ****** & find alternative source(s) of income!! SMH!!

Cc: Tonyebarcanista, help our sister to douse her unbelief.

(Aigbagbo bilaa, temi lolu'wa) some of us are really addicted here, with a humble beginning.

God bless Nairaland.

As for PMB, oti fi Ori ko 'japping', he takes the blame of the past administration having come on the platform of CHANGE.

What measure has he introduced to correct the anomalies ? NOTHING but pictures of him touring the globe, what a wrong choice of president.

modath:
High chief of neverlandd, what are you producing? If you have, exporting it won't be a problem, People who are into cashew export are making a killing right now so don't peddle falsehood, the problem is that most people became over reliant on cheap oil proceeds & didn't look for alternatives before now..

Why did you also sidestep your earlier assertion? Ba sincerity of purpose ko?


Mr wailer up there, schooling abroad is a luxury!! that your country's educational standard is falling & you choose to seek alternative (great decision) is cool, but it doesn't make it less of a luxury!!!!

Some things are just common sense & logic, wailing, nit picking & bitching about everything isn't opposition...

This your epistle should be to the Galatians (Awon alainironu, ara Galatia) who voted the dullest old man as a president. Let not beat around the bush, our country lost focus since 29th May 2015 when we decided to return to the 'stone-age' in this digital era.

As to your exporting argument, go and ask those exporting cashew how profitable is their venture and they will tell you they break-even, with small margin.

You grant loan to farmers at 26-30% interest rate and expect to export to compete with countries with 2-5% loan interest rate. What a joke.

modath:
Said he has heard your complaints about feeling shortchanged on that "rigging" thing you did for him, that he is sorry.

E nor know say e pain you like that,that you should come make e give you councillor position make both of una for rest & you go get peace!

That was actually the beginning of my grouse with BAT & OBJ.

I sponsored a candidate back then when the looter created additional LG in LAG., and OBJ as the president request PDP members not to participate in the vote as he would cancel the LG election, we boycotted the election as advised, all the spends became a waste and OBJ could not stop the fruadulent additional LG BAT created before finally converting same to LCDA. Thanks to Pastor Prof. Osinbajo. (The pastor behind the professional looter, offering professional legal service to the crook).

And what we see thereafter was the handpicking of candidates from his bedroom in Bourdillon without recourse to due process and democratic principles.

Imagine, the imperial capitalist is now the biggest landlord in Africa at the expense of the people.

Tinubu the imperial glutton capitalist. The BIGGEST LANDLORD in Africa, the grandmaster of corruption.

Selfish & greedy fellow.

modath:
Cc ; Firefire , come &see what your nemesis & Sun newspaper "Man of the Year" is saying ooo.

What is the Asiwaju Awon looters saying?

modath:
Fire, you are quick to use the term "hypo /Jik" but what is this one you swing from thread to thread with divergent opinions about USD scarcity?

Where is the Forex supposed to come from when oil is trading @ 32$ (minor miracle) , the country almost entirely depend on just the proceeds from this single commodity & I'm 100% sure you in your personal capacity produces nothing worthy of export!!

Chill "high chief" (jury is still out on that one,) there is life outside of your angst/bitterness/beed with Tinubu.... you can't keep harping on that, free your mind & live your life!! not everything is political! Pele!

How to do expect any Nigerian to export anything in this hardship and economic conditions ? How do you compete favorably in the international market ?



As much as I sympertize with this administration, I will surely not shy away from my strong opposition stand, we warned Nigerians not to return back to Egypt & slavery, they refused to listen. See the nemesis now.

CBN no longer independence to marshal its best policy, but rather take orders from the dullard.

The promised change is a scams, all can see now.


This administration low economic skill as evidence is her many policy somersault shows APC is 'suegbe-pako'

jaymichael:
I was trying to understand the rationale behind that decision. I think it was misplaced. A mistake they realised and I think they have corrected but not without it's resultant effects.

It resultant effect is now what we see in the extreme scarcity of USD, now at 391/$.

8. Don't post false information on Nairaland.


Seun, Mydn44, Lalasticlala.

Papa Buhary... please go well...


May your going and coming energize you to do more trips, papa.


We thank God for giving us a president like you at this time.


Masha Allah

I think it's high time we asked the past administration across the 36 states of the federation how they disbursed the "OIL Windfalls" ?


SUREP
ECA
among other sharing...

Obiagelli:
Calm down, the government still earn money in dollars for sale of oil (however small) but still pays state government in naira. That should stop

Am here to add to my knowledge ni, am calm like water.

You argued that CBN should pay the state government in USD right? That would require a revised of some of CBN monetary policy.

However, paying states in USD is not new to Nigeria, (2008, CBN did same).


CBN Now Pays States in Dollars

Nigeria, 01/17 –

With effect from this month, the Central Bank of Nigeria (CBN) will begin payments from the federation account to states in US dollars.

The dollar payment, which is one of the four pillars of the CBN`s “Strategic Agenda for the Naira” originally billed to be implemented last September, is geared towards strengthening the nation`s currency, the naira, and managing liquidity in the economy.

Already, the banking watchdog has paid the $1.8 billion refunds from excess Paris Club exit debt to states last month.

A circular containing guidelines for the dollar payments addressed to banks and obtained by THISDAY states: “Sequel to the payment of the Paris Club, from the excess crude deductions from their statutory allocations in the process of effecting the payments, the following guidelines are to enable designated banks make refunds of excess deductions to affected states.

“1.The CBN shall transfer the US Dollar amount allocated to the respective states to the offshore FEM of the designated banks.

“2. The banks shall credit the domiciliary account of the beneficiary state with the amount allocated to them as soon as the accounts are created.

“3. Any interest accruing to the amount from the date the banks are credited by the CBN to the date the funds are paid into the domiciliary account of the state shall be transferred to the beneficiary.

Furthermore, banks shall also pay appropriate interest on the balance in the domiciliary account pending utilisation of funds by the states.”

The circular, which was signed on behalf of the CBN`s Director of Foreign Operations by one J.J Aluko, however, stated that banks shall not be allowed to effect disbursement of funds from the accounts to their states in US dollar cash.

“Drawing from the accounts shall be made in naira at the prevailing inter-bank exchange rate on the date of the request from the state. However, states can utilise the funds in their accounts to effect offshore payments in respect of eligible transactions including opening of letters of credit subject to appropriate documentation and authorisation by the state governor,” the circular stated.

The three other pillars, which form the phase two of the CBN reforms, are the naira redenomination that was suspended last September, the current acc-ount liberalisation/convertibility and accession to article V111 of the International Monetary Fund (IMF) as well as inflation targeting for the conduct of Monetary Policy, which are billed to commence by January 1, 2009 respectively.

As a result of the structure and development of Nigeria`s financial system, the underdeveloped nature of the foreign exchange markets, as well as the restrictions on foreign exchange transactions, the CBN until last December had traditionally fully monetised the foreign currency receipts in the Federation Accounts, to be shared by the three tiers of government.

Initially, the CBN also maintained the accounts for all the tiers of government – as part of the liquidity management framework. Subsequently, as the banking system developed, the CBN allowed the share of the states and local governments to be deposited with the commercial banks.

Beside strengthening the naira, the dollarisation of states` allocation provides an additional instrument for effective liquidity management by the CBN. Given the fact that Nigeria earns dollar from its crude oil export, which constitutes more than 90 per cent of her earnings, if the apex bank disburses such funds to states in naira, it would have to print additional naira – thus pushing additional funds into the economy.

http://www.nigerianmuse.com/20080117163950zg/sections/spotlight-focus-on-issues/nigerias-revenue-allocations-cbn-now-pays-states-in-dollars/


This approach will naturally increase the demand for the dollar and weaken the naira, according to experts.

Obiagelli:
The more reason to inject dollars

Please where do you expect the dollars to come from ?

989900, let us simplify this discussion.

1. Do you expect CBN to print more Naira to meet it local obligations, in the face of dwindling income ?

2. How can CBN flood Nigerian market with USD, as asked by Obiagelli?

989900:
Pls. Go thru those links I posted it helps.

You can go thru my previous topics.

This helps too: https://www.nairaland.com/844884/solution-fuel-subsidy-wahala-look

I already bookmarked the link, it would be instructive. Thank you.

SirShymexx:
Loool. This is very funny.

Why would a CBN that implemented a restrictive forex policy decide to flood the country with dollars?

You imagine, the same CBN policy earlier placed an embargo on $ deposit.

989900:
So, we print Naira? Or where do we get the funds to fund the economy?

So you create further excess liquidity?

http://www.opinionnigeria.com/sensible-path-to-stronger-naira-and-economic-prosperity-by-henry-boyo/#sthash.hyWWsaT0.eJNNE8Wx.dpbs

Printing more Naira is not the solution to meeting FX demand based on the OP's question.

Obiagelli:
But the CBN still manage to pay state governments in naira, do they just print naira or equivalent of our earnings

CBN currently have enough Naira liquidity, meaning banks now have more naira waiting for FX conversion.

Obiagelli:
Do we earn oil money in naira?

As mentioned by LRNZH, Nigeria Govt. currently have a negative balance of trade.

What is the topic about ?


No. 1 alleged Boko Sponsor (Sheriff), ? I am not interested.


APC, Party of professional looters and career propagandists.

Government of no focus.

I am here to read comments....

rozayx5:
firefire kenai anonimi flets bishopjuice

Safe trip to our dear president.

PoliticalThuG:
Someone should tell that old man to resign if he cant govern nigeria.. Nigerians are suffering and mumu man is yet to notice it.

btw, those zombies that are supporting mumu-madu booohari, how market?

hope u all are enjoying the "chenji"?

This is not a joking matter.

Nigeria is bleeding.

kYjelly2:
Even on Yahoo blogs after the election, folks from other countries were asking how a country could have elected a former dictator.

Are we so dumb, that out of 160 million people, we couldn't find someone fresh? so we had to go back in time to bring back someone that stole the presidential mandate with a gun?

I just don't get it!

Daily, you here about Nigerians breaking records abroad and Even just recently a Nigerian solved an age old mathematics problem that had evaded solution from others for years.

So out of all the extraordinary Nigerians, we still had to go back and bring a dictator back?

Why are black people like this? I hate to generalize, but in this case, it just seems that the general population is filled with dumb people, or maybe overly sentimental and tribal people, which is still falls under the definition of dumb in my opinion.

Sad that we keep getting things wrong. I hope one day, we will put our brains to good use and critically analyze a candidate, though that may be hard to do for an illiterate population.

Most Nigerians have short memory.

Ojukwufrank:
The likes of firefire paid agents are the problem of Nigeria, you can never see them on this kinda thread. The rejoice for any thread like= Bokoharam strike in Borno e.t.c Shameless people.

May Allah have mercy on your soul.

Na’uzhu-bi-Allah

No comment...

politricks:
lalasticlala put this on frontpage so that those that have said trash against Apc can finally eat their words and yet they call the ruling party a party of propaganda. Watch how they steer clear of this thread but trust me to call them.

cc: pryce, firefire, tippytop and all other wailers or ipod youths.English please.

APC members collapsing after the order of Naira.

Aunty mi, efi ogbeni Phash yen le, o jare.

ajebuter:
Emi ,

Omo Ibo?

Erin e de pa mi ogbeni Phash

Shey, gbogbo eni ti o ba tako PMB ni omo Ibo abi?

Abi o ro pe gbogbo omo Yoruba ni eru Buhari ni?


CC: Firefire, anonimi

E wa wo eemo lode oh

Won ni omo Ibo ni mi oh ...

Ok.

faruz:
dere is no 1 to deliever usb........... I jez dey wnder... Maybe na nigeria adam nd eve chop apple...... Cus diz suffering iz 3 Much

psucc:
Finally a new gate has opened.
#budgetgate.

If Buahry has any credibility left in him, he should withdraw the budget of shame and tender an unreserved apology to Nigerians for his ineptitude and carelessness.


APC, Party of professional fraudsters and career rogues.