₦airaland Forum

Amigoss, you've been mocking AkwaIbom, you refused to give us the latest stats, wetin you dey hide

https://www.nairaland.com/8066648/number-children-living-servants-state

Leyqute:
Mr. Good ebening knows how to manage these cup games.

Every manager with Martinez as goalie knows how to manage cup games. Just aim for draw and let Martinez do the rest

Messi should cut 25% of his lifetime earnings for Martinez who gave him GOAT status

hensben:
Palmer is hailed not because he score goals only but because of his other attribute, his football IQ is seen as Messi type.

Pharmacist, leave drugs for the patients please

pafra:
I want to seek your opinion. How real is Bitcoin mining? I am in a WhatsApp group where people do mining and get rewarded by subscribing to Antminer through hushcloud.

The reward varies depending on the subscribtion ,amount invested and the number of days you are willing to wait.

What is your opinion on this

Forget mining, na scam

Wetin happen to her face wey dem pour acid?

This one is running naked in market

BlueRayDick:
How Peter Obi take enter this matter now ?

What's good for the Jews is good for Uganda

LordAdam16:
Precisely why data is of the utmost importance when parsing the statements of central bank governors.

Unfortunately, under Cardi B's regime, they've been quick to share favorable data but deliberately withhold hard data that'd offer clarity.

This is a Governor who sent out a spokeswoman on a late week afternoon to organize the media and wax lyrical that billions had come in after the just-concluded TBill auction. Information one could already glean from TBill auction data and the FMDQ.
Yet now he has refused to state exactly what debts accrued since Q2 2023 could possibly be responsible for hiking our traditional debt service payments so high that it results in a negative $2B reserve depletion.
More importantly, considering he's already taken more debt at the start of this year at worse interest rates (double digit) and already preparing to take on more, what does it mean for our monetary position going forward.

This is an administration where the Minister of State for Petroleum can go on the record and insist that subsidy is not being paid on gasoline.
Forgive me for not taking the words of a central bank governor of the same administration at face value. As folks would say, he should show workings.

-Lord

Central Bank Governor and Petroleum minister are two different briefs. We expect half truths from CBN so long as their data is correct. It is not seen as lying, but picking out the stats that favour a positive narrative. So long as their stats are truthful, they can give whatever interpretation they want about the stats. Just like CFO before quarter end who will suddenly find a favourable true-up, or rebase their assumptions on 365+ Bad Debt calculation in order to hit a profit figure analysts are expecting before quarterly reports are due, in order to save the stock from tanking. Finance is about massaging the message and managing the results in lean periods, until a bountiful period allows you to clean out all the cobwebs and absorb all your writedowns. Or alternatively, you bring out all your dirty laundry when the economy crashes (which I suspect many NSE CFOs are currently doing, burying their bad news amongst the greater bad news.)

For me as long as a central bank publish their stats and stats are accurate, Governor can paint whatever picture he wants. Cardi B problem is that Emefiele so fücked up the reserves, our central bank can't afford to give full disclosure for now

I for one don't believe our Foreign Reserves figure of $32bln. I have never seen where CBN will hold $32bln unencumbered and be begging hat in hand for loans of $3bln, $1bln and $600m to stabilise Naira. Loans for Naira defence are a foreign concept in our monetary policy. With $32bln, you can defend Naira for up to 3 years before it hits zero

I believe the JP Morgan reports that most of the $32bln is encumbered and this is why I believe Cardi B is not in a position to give full disclosure because the naked truth will tank Nigeria. The Afrexim loan alone is enough signalling that all is not well. Cardi B is doing his best under the circumstance.

BlueRayDick:
Nobody said the CBN governor shouldn't do his job .

Nobody said defending the naira is wrong or illegal .

In fact, nobody really cared about whether Naira was being defended or not until Tinubu led APC government made defending the naira look like a bad thing .

The CBN under Cardoso bold faced told us naira has been floated and henceforth the CBN will no longer determine the exchange rate but that only interaction between demand and supply will be determining the exchange rate . The old practice of defending the naira or intervention by CBN will no longer happen .

So we are only curious to know if like most of Tinubu's policies that didn't work out as planned; perhaps they have quietly gone back to the drawing board without "louding it ". At least that was what happened with petroleum subsidy .

It's nothing deep at all

It's allowed. Peter Obi said he would float the Naira, then when it floated too far he said "I would have floated it, but defended it at N700".

Only first world countries can really guarantee a float without interventions.

I wouldn't mind Maatsen winning UCL as starting left back sef, make we bill pesin £50m for him

BlueRayDick:
That's what is called PROPAGANDA .

Most people don't know propaganda includes facts, half-truths , outright lies and sometimes a mixture of everything just to influence public opinion.

U can see Cardoso's statement has already achieved its aim .

Person say he perceive a future where they won't need to intervene ( which obviously mean that's not what obtains in the present ) , but see people refusing to see his statement was half-truth. He talk half, he leave the other half for una to go figure .

At least he was wise enough not to ask people to go bring evidence of intervention like petroleum minister was asking

A Central Bank Governors job by definition is to avoid spooking the markets. Propaganda can't be levelled against him, he is doing his job which includes softening the message and obfuscating the naked truth if need be (not saying he is). He is simply doing his job towards a greater goal of protecting the economy.

Tuchel and Harry Kane for the UCL. They deserve it

swiz123:
Let me keep my cup below your cheeks and watch it drip little by little till it gets full.

Comot your Chelsea shirt finally, anumanu

Kova my boy. I knew you wouldn't let me down

Bernardo Silva dey audition for skit abi wetin

Mr Lunin, I call down the spirit of Emi Martinez and Kingsley Nwabali upon you right now

Make us haters proud

Akanji is joining the midfield too much, extra man for Madrid to deal with, he is causing overload

Leyqute:
If they keep giving him space KdB will ruin Madrid

Kroos keeps giving him ticket, he will soon hammer

VAR review in the Reserves semifinal between Lord and User

thesicilian:
Sentiments aside, he can actually take care of them better than the father

You are assuming money is all it takes to raise a child

Can Emoney abide with love when Jnr Popes son is failing in school or becomes a bad teenager, or starts taking drugs and smoking loud? A father's love will conquer all the above whereas a sponsor will bail out.

Sportsweb:
Andrew and millions of Barca bots all over the world.

Time to change allegiance since their miserable club can't do jack again

One of them here has been denying he is wearing Barca undergarment/singlet under his Man City top for the last 4 years

nihilistjnr:
You don see am? How you feel that episode?

I never watch , I go watch am this evening

BlueRayDick:
If this Bloomberg news piece on our depleting reserves due to CBN defending the naira is true , then it means the whole blaming of binance & eventual clamping down on them is a smoke screen to divert people's attention . An attempt to make people look away from the fact that CBN and Tinubu's government are using our reserves to defend the dollars.

I'm not an expert in these matters but if they claim there has been considerable increase in foreign remittances to help meet our FX need ; how come our reserves have depleted faster in this in just 29 days than it has for a long while now ?

Abi Shey there's no relationship between our foreign remittances and our reserves ni ?

At this point make CBN show workings instead of doing the same thing NNPC did by denying paying for any subsidy in the face of overwhelming evidence

I actually see sense in User09 arguments. The truth is somewhere in-between his argument and LordAdams

The volume of dollars that would be needed to increase Naira value by 40% is way more than $2 bln

I have seen CBN spend ten billion plus in short time frame just for Naira to stand still.

Without full disclosure of CBN accounts, I believe the Binance move as well as the NAFEM move took out some speculative noise and allowed Cardi to move the market with much less dollars than was needed before. Cardi really studied the situation and his prescription hit the mark. I also cannot discount State Governors profit taking which might be a phenomenon outside of the ambit of CBNs powers. Governors had been converting their allocations to dollars and would now be converting it back, giving them more Naira to prosecute their budgets.

Still, there is no loss for those holding dollars. Never in the history of niggadom has Naira appreciated over a reasonable timeframe and it will still meet that N2k within a medium term timeframe.

All said, much kudos to Cardi B.

nihilistjnr:
Mariko-sama will go down as one of the most legendary characters in TV.

9 gun salute for you.

You just remind me to go watch am after I done plan sweet sleep wey my body need

andrewbaba44:
You will continue watching highlights egbon

This is the second season counting

You will miss ucl for 5 seasons before the gods will forgive you .

From your mouth to Gods ears, kharma is a bîtch

User09:
Been too busy to come back to the earlier post and now I'm shocked seeing the amount of likes and shares on it.

This tells me 2 things; Perhaps, people just dont understand or have clarity on what is been debated - and this includes the Lord guy

or People are neck deep in their agenda and just want the false propaganda to be true.

I'll now give clarity and proper explanation for the first set of people and those who possibly want to gain a proper understanding of the market and what's been going on.

The market signaling being spoken of is the sale of USD to the BDC at a perceived lower rate - I say perceived, cos remember that this low rate being chosen was also determined by the market interactions - albeit the lowest one. Now the market has reacted to such signals just like how it would in any free market economy. Think about it, even in any supply shop or market, if theres any sentiment of price drop, Wouldnt other sellers act accordingly?. Its the same reason we had that whole discussion few days back about retailers abusing their powers. This isnt the case here with the Fx market

Now pay attention here; CBN has not intervened in the dominant market - NAFEM and in terms of supply and demand and liquidity, NAFEM is still the market to go.

To put this in context, the total sales by CBN so far to BDC's this year is around $60m. Now compare this to the volume being traded/turnover in NAFEM for just Q1 which is around $13 billion. Now tell me exactly how CBN is pegging the rate or how a 60 million would have any impact in such a market ( Recall I asked the Lord guy to do the numbers earlier and he bailed). Even with the velocity of money being accounted for, this 60m cant have the significant impact being discussed

Infact the major FX inflow so far has been from foreign remittances, which is why I was baiting the LORD guy when he kept saying the drop in CBN reserves was as a result of CBN intervention. Luckily for him, he didnt continue the conversation. There's still no evidence so far of any CBN’s sale or intervention in the NAFEM windows, so maybe you can ease off on the pegging noise and depletion of reserves

Now all of this are based on market data and the little transparency so far from the CBN and like I have mentioned in the past, it is still a short to mid-term win. Some of us in the market are still watching.

Now if you feel otherwise and feel strongly about the opposite. Maybe you can share your priviledged data with me or maybe even short the Naira and put your money where your mouth is like the Americans will say. I have attached the current FX futures quote to make it easy for you.

Quote THE LORD guy directly or mention his name LordAdam16

You too dey do fear fear, you get illness or social hangup?

Why write epistle ontop his matter but addressed at us. Do we look like jurors?

Anyway, I am convinced by your argument on volume and your points are solid.

1 more goal to spell Everton, let's do it

lordfalcao:
till nwa Jesus scores an own goal

The mistakes Nwa Jesus made in 4 years, Disasi will cover that in 10 games

Thiago and Nwa Jesus should continue their partnership next game. It is better than playing Tower of Babel centrebacks that don't communicate with each other

Leyqute:
And you believe he’ll finish the season ahead of Haaland and Watkins?

He is level with Haaland and ahead of Watkins

Haaland wey dey injure anyhow, for all you know Haaland fit injure next game and he is home free

Kimbeast:
That's the self centeredness am talking about. He is putting his personal objectives over the team. He already has an hatrick and we are 4:0 up. Give it to others to take.

That goal took him equal with Haaland for golden boot.

Who gives away golden boot?

Kimbeast:
Madueke and Jackson needed that goal more than Palmer. He was already on an hatrick and we are 4:0 up. He should stop being self centered before the other attackers turn on him.

Scattered Edomites that can't even agree among themselves

Palmer is chasing Haaland, they should go and sit down

Kimbeast:
Update.

Palmer, Jackson, sterling, madueke and Mudryk= 42 league goals.


Saka, Havertz, Martinelli, Gabriel and trossard= 41 League goals.


Haaland, Foden, Alvarez, Doku and Grealish= 48 league goals.

Put address on this