₦airaland Forum

Akpabio should suspend him for 6 month without pay

happney65:
Thank you

But they will never ever learn. Their minds are so made up. I have never ever seen a set of people like them. They should tell Atiku to wait till when it will become the turn of the North again and that is when the south has done 8 years.

SW 4

SE 4

A lot of you guys don't like telling yourself the truth

Tinubu will spend 8 years in power.

jmoore:
If business A borrows money at 24.75 % and business B borrows money at 15%. With all other factors being equal, which should have a higher selling price?

Is a higher selling price not inflation?

Business A wont have to borrow because of the high interest rate.

MrPristine:
These clowns have clearly lost the plot, this is a time that they should be working to reduce interest rates and encouraging more people to go into productive businesses to help grow the economy. Instead the clueless charlatans are doing the exact opposite.

They should reduce interest rate when the reason they increase it few days ago has not been achieve?

pansophist:
Lagos will never catch up regardless of the amount it spends on infrastructure,

Catch up with where?

Lagos state is the number one in Nigeria.

babasolution:
There are many southwesterners in other parts of the country like everybody else,Lagos is a neutral ground for everyone including southwesterners

Lagos is Yoruba land.

Ikeja, Yaba, VI, Ikoyi, Lekki etc are Yoruba land.

favor914:
Local Government must work, development of Lagos State should not only be about the Governor.

Lol

See as you dey talk like person wey just enter Nigeria

pansophist:
Lagos is the smallest Nigeria, but also the economic giant of the country. To put into context how small Lagos is, Toro local government area (just one of twenty LGAs in Bauchi state) is bigger than Lagos twice, but Toro has about 350,000 people.

Lagos's population is over twenty million, jam-packed in a tiny landmass, with thousands trooping in daily from all parts of the country, this is unsustainable.

Decentralization, restructuring, and a political effort to spread Nigeria's population across its huge landmass are required, otherwise, Lagos will deteriorate further.

Lagos is not just the island. Mainland Lagos looks like a place lost in time. It was more beautiful and livable in the past than the present, and you can blame a huge population, coupled with governmental neglect for that.

Abuja is also expanding massively.

Lagos just needs more money to spend on infrastructures in Lagos state

Validated:
The Nigerian media outlets are complicit in the abduction of over 400 students in Bornu State.

https://www.msn.com/en-us/news/world/2nd-mass-abduction-of-children-reported-in-nigeria-in-less-than-a-week/ar-BB1jvcK9?ocid=entnewsntp&pc=U531&cvid=76a36170fd754377bd93583f1b7e2c3f&ei=57

trash

press9jatv:
STREET CREDIBILITY

Governor Fubara surprisingly stops by some shops on the street to get cold drinks and other items. Our Governor is a leader that understands the street language, a Governor not just for the rich but for everyone.



https://www.youtube.com/watch?v=1I5mj_J33jc?si=rf_y4Nl7b_V99yDd


https://www.facebook.com/share/v/yw6RoqS5btLBoRBW/?mibextid=WC7FNe

old format

Xxxxtentacion2:
A policeman was caught hiding behind a wall in today's robbery in Kogi state.
I couldn't post the full video but a screenshot below...

Real life firefight is different from hollywood movie.

The police is a wise man, he's outnumbered

He has live to fight another day.

malali:
Tunji-Ojo Isreal is killing 40,000 Palestinian muslims in a genocidal fashion.
2 - 3 days prior to ramadan, you are doing a photo op with isreali Ambassador.
Thats just insulting to muslims.
I do not know who is advising this young man.
I thought you have "omoluabi" sense.

I hope you last on this Job.
Show some diplomacy.
Countries are sending aid to Palestine.
I hope you dont fall on your own sword.

Wetin this one dey talk?

garfield1:
Is he a muslim

I'm not sure. But he's an Indigene of Ikorodu, and he has done far better than what abike dabiri did in ikorodu.

Emefiele is a big crook, who gave the guy the confidence to steal boldly like this?

garfield1:
The next governor of Lagos by right should come from Lagos east,a Muslim and a true lagosian likely from a royal family.tinubu from 1999-2007 represented Lagos west,fashola represents Lagos central while ambode hails from Lagos east.sanwoolu hails from Lagos central.so in terms of zoning,the next governor should come from Lagos east or worst case,Lagos west while central is ruled out...
For Lagos east,the no 1 aspirant is senator tokunbo abiru,a Muslim with little exposure to politics,a key technocrat.he has worked in the Lagos state government as a commissioner under fashola.tinubu usually makes sure governors after him must have worked in the Lagos civil service or government or worked close to him,have little exposure to politics.with the way tinubu plucked him from Skye bank to senate,he has something huge for him..

Another strong contender is Dr Hakeem muri okunola popularly called HMO.he was the immediate Lagos state head of service,worked as a private secretary to tinubu as governor and now as president.surely,tinubu has something planned for him.though zoning doesn't favour him..

Another candidate is hon Femi gbajabiamila the chief of staff.he hasn't worked in Lagos government,is a core politician and may give tinubu issues as governor so it is less likely.


Mynd44
Nplfmod
Seun
Seunmsg
Fergie001

if power is going to Lagos east, base on performance, Jimi Benson should be giving a chance.

H

Ejyksneh:
If that mandate thief from owo in nkanu tries it, heads will roll!!! I repeat, dogs and baboons would be soacked in blood, I don't want to see any Adeyinka, Adeniyi or Segun hawking hot drinks in the street of Igbo land again, this is my last warning

What can you do?

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the apex bank will no longer give Ways and Means to the Federal Government until the previous loans are repaid.

Olayemi noted that it was one of the measures taken by the apex bank to curtail the economic country currently plaguing the country.

Ways and means is the money that the CBN lends to the Federal Government in the meantime to augment spending based on the time the revenue is generated.

Cardoso on Friday alongside the economic team met with the Senate Committees on Finance, Appropriations, Banking, Insurance, and Other Financial Institutions.

The Senate had summoned the economic team including the CBN governor, Minister of Finance, Wale Edun; the Minister of Budget and Economic Planning, Atiku Bagudu, the Minister of Agriculture, Abubakar Kyari to address the current economic situation and more importantly, the free fall of the Naira and hike in prices of food.

The CBN governor said, “On our side at the CBN, we have responded with significant monetary policy tightening to reign in inflationary pressure.

“Empirical analysis has established that money supply is one of the factors fueling the current inflationary pressure. For instance, an analysis of the trend of the money supply spanning over nine months shows that M3 increased from N52.01tn in January 2023 to N68.25tn in November 2023 representing N16.24tn or 31.22 percent increase over the period.


“Increase in Net Foreign Asset following the harmonisation of exchange rates and the N3.22tn ways and means advances were the major factors driving the increase in the money supply.”

He further explained, “I am pleased to note the Fiscal Authorities efforts in discontinuing Ways and Means advances. This is also in compliance with Section (38) of the CBN Act (2007), the Bank is no longer at liberty to grant further Ways and Means advances to the Federal Government until the outstanding balance as of December 31, 2023, is fully settled.

“The bank must strictly adhere to the law limiting advances under ways and means to five percent of the previous year’s revenue.

“We have also halted quasi-fiscal measures of over N10tn by the Central Bank of Nigeria under the guise of development finance interventions which hitherto contributed to flooding excess Naira and raising prices to the levels of Inflation we are grappling with today.”

He reiterated, “The CBN’s adoption of the inflation-targeting framework involves clear communication and collaboration with fiscal authorities to achieve price stability, potentially leading to lowered policy rates, stimulating investment, and creating job opportunities.”

Cardoso further stated that its efforts were beginning to yield results to ease the economic situation in the country.

He said, “Our MPC meeting on the 26th and 27th of February is also expected to review the situation and take further decisions on these important issues.


“Distinguished Senators, Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, aiming to rein in inflation to 21.4 percent in the medium term, aided by improved agricultural productivity and easing global supply chain pressures.”

Cardoso while addressing the issues said, “Distinguished Senators, these measures, aimed at ensuring a more market-oriented mechanism for exchange rate determination, will boost foreign exchange inflows, stabilize the exchange rate, and minimize its pass-through to domestic inflation.

“Indeed, they have already started yielding early results with significant interest from Foreign Portfolio Investors that have already begun to supply the much-needed foreign exchange to the economy.

“For example, upwards of $1bn in the last few days came in to subscribe to the Nigeria Treasury Bill auction of N1tn which saw an oversubscription earlier this week.”

Cardoso added, “Our measures aimed at improving USD supply into the Nigerian economy, have significant potential in taming the volatility of the exchange rates. However, for these measures to be sustainable, we must as a country, moderate our demand for FX.”

Meanwhile, on addressing the issue of the free fall of the Naira in exchange for the US dollar and other hard foreign currencies, the CBN governor has advised Nigerians to reduce their quest for dollars, consumption, and usage of foreign goods .

He emphasized that without moderation of demands on USD, the CBN has no magic wand to hurriedly get Naira stabilized.


He, however, informed members of the committee that a series of measures put in place by the apex bank recently are yielding results with an inflow of about $ 1 billion into the economy.


He said, “The Nigerian foreign exchange market is currently facing increased demand pressures, causing a continuous decline in the value of the naira. Factors contributing to this situation include speculative forex demand, inadequate forex supply increased capital outflows, and excess liquidity.

“To address exchange rate volatility, a comprehensive strategy has been initiated to enhance liquidity in the FX markets. This includes unifying FX market segments, clearing outstanding FX obligations, introducing new operational mechanisms for BDCs and IMTOs, enforcing the Net Open Position limit, Open Market Operations and adjusting the remunerable Standing Deposit Facility cap among others.”

He added, “Our measures aimed at improving USD supply into the Nigerian economy, have significant potential in taming the volatility of the exchange rates. However, for these measures to be sustainable, we must as a country, moderate our demand for FX.

“It is also clear that the task of stabilizing the exchange rate, while an official mandate of the CBN, would necessitate efforts beyond the Bank itself. It will also include actions by corporates and individuals to reduce our frequent demand for the dollar for business and personal needs”.

On the Inflation rate, the apex bank governor assured Nigerians that it will reduce to 21.4% in 2024.

“Distinguished Senators, Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, aiming to rein in inflation to 21.4 percent in the medium term, aided by improved agricultural productivity and easing global supply chain pressures”, he said.

Aside from the CBN Governor, the economic team like the Ministers of Finance, Wale Edun; Budget and National Planning, Senator Atiku Bagudu, Agriculture and Food Security, Senator Abubakar Kyari, also made presentations based on questions asked by the Senators on the State of Economy.

Senator Sani Musa who chairs the Senate Committee on Finance, in a series of posers fired at the Ministers and CBN Governor, queried the $3.3bn collected as a loan to rescue Naira since expected positive effects are not being felt, months after.

Meanwhile, the Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru (APC, Lagos East) underscored the need for a forensic investigation of past transactions and the issue of compliance of the bank.

He said, “We have serious economic challenges, they are largely macroeconomic challenges.

“We have inflation in several countries including developing countries but in Nigeria, we have inflation at almost 20%. What special measures do we have to address this?

“Do we have the place to assist the government to boost food supply in a view to also kind of reduce the weight of food inflation in the consumer price index? That’s my second question.

“How does CBN plan to support the productive sectors of the economy, the agriculture and manufacturing sectors? Because there are the two critical sectors already experiencing heavy growth rates.


“Today the money supply is estimated at close to about 75 trillion and thereabouts. I don’t know what is impeded in that 75 trillion, we have 30 trillion ways and means that ordinarily should have been impeded, but we have structured this into a 40-year instrument at a subdued interest rate of 9%. These are part of what is creating the distortions in the economy.”

He specifically, urged the CBN governor to make available to the committee, an audited account of the apex bank and its budget.

On his part, Senator Orji Uzor Kalu (APC, Abia North) called for the ban of dollar use in Nigeria, stressing that the government must go back to abolish the use of dollars in business transactions

“What plans are you putting in place to strengthen the Naira? We must go back to abolish the use of dollars unless to those who are authorized.

“In South Africa, nobody buys anything with dollars. I can see the shops in Abuja putting their goods to be bought in dollars. So what have you done? Where we are now, there is no foreign direct investment that will come to Nigeria, I’m really worried. People are leaving.”

Kalu added, “And what else have you made to bring to book those 2.7 billion dollars that you say that they have been in default of the documents? Who are the Nigerians that have defaulted these documents?

“You must bring them the book and you must make it public because people are attacking us. I can’t go to my constituency. If I go to my constituency, people are hungry, people are shouting at us, and people think we the senators are the cause of the economic problem. We are just making laws. It’s left for you people to execute it.

“So for me, what plans are you making right away to reconcile with NLC and TUC? They have given a 14-day ultimatum. What are we doing to stop that movement? Because I don’t want to see people say this is politics, this is not politics. These people are legitimately doing what they are doing,” he added.


https://punchng.com/cbnll-no-longer-give-ways-and-means-to-fg-cardoso/?amp

Kukutenla:
At least read and understand before you make comments
The reason given for neighbouring countries mop up of grains in Nigeria is in the report.
So how can it work the other way

Seun you and your mods like Mynd44 are bias. This guy has two monikers on nairaland, nothing has been done to him but I was suspended for calling someone okoro. I wander when okoro became a derogotory word

[quote author=Prigidypogodo post=127830450][/quote]Adaobi will never become the president of Nigeria and Tinubu will rule till 2031

Igboid:
I have accepted the fact that cowardly people don't want to fight their Fulani masters for Kwara and Kogi, which is exactly what they have to do should NIGERIA disintegrate.
So for this reason, they cowardly want to continue doing one NIGERIA with Ndiigbo who have no interest in such.

So tell me? Are you going to leave Kwara and Kogi for the Fulanis?
Are you that lily-livered?

Have you accepted the Gambari rule over the Yorubas of Kwara?
Is there no fight left in the dying horse?

Are you living in Lagos?

Igboid:
Kwara is lost to Fulanis likewise Okun.
Ilaje and Ese Odo belongs to Ijaws.
Bini has a claim on Lagos Island.
Egun people of Benin republic get Badagry.

You are cowardly scared of the truth you will face should NIGERIA disintegrate.
You remember how you were killing each other in the name of Kiriji wars? You need NIGERIA badly to save face.
I understand while you live your entire lives dreading Nigeria disintegration and fearing Igbo man live long desire to break the slave yard.

We are built differently. While we believe we are better off without NIGERIA, and have no doubt about our abilities as a people to build a viable country outside NIGERIA.
Your own people lack self conviction, and wants the slave camp to stay to hide their own shortcomings.

Ndo! Your worst fears will still fall on you.
NIGERIA has an expiry date and you will definitely have to face your Fulani masters for the fate of Yorubas trapped in Kwara and Kabba.
It is what it is.

I'm excited you have accept the fact that Ijaws and Fulanis are more powerful than igbos in Nigeria.

You even had to attach yourself with the great Yoruba people in one of your earlier post, you sef sabi your master chinedu

Igboid:
You are talking off points as usual.

How dare you claim am talking off point chinedu?

Even kanuris are more powerful than igbos in Nigeria a Kanuri man is presently the VP and might become the president of Nigeria in 2031 while a Yoruba, Isetkiri, Urobo, bini, efk, annang, Ijaw, Ika or Ikwerre man will become his vice.

Igbos will wail and ask the APC to microzone the VP slot to the south east, but APC no go gree.

Igboid:
You are talking off points as usual.
Again this is the Igbo nation map.
You can find it in all top Universities in the Western world.
Deal with it and prepare to fight for the soul of Kwara and Kogi west with your Fulani masters.

Alaigbo will be made up of Anambra, Imo, Ebonyi, Enugu and Abia state.

I understand how you feel though, I won't want to be living in such a shit hole too, so you need to attach yourself with Ikwerres and Ibanis

Igboid:
Power to the Igbo is building world class cities

There's no single world class city in the south east.

Igboid:
You are not a very serious person.
There are dozens of colonial maps of Igboland and Igbo speaking groups.
Ndiigbo didn't draw that map.
Neutral colonial anthropologists did.
It is not invasion when you take what belongs to you.
I think you Yorubas will have your hands full with your Fulani masters in Kwara and Okun to even have time to support Ijaw here. And even if you do, you will still be crushed.
Ijaws still have coastal Ondo annexation in their plans, so I don't know how you hope to forge that union with Ijaw.
Who knows, maybe after flogging the hell out of Ijaw expansionists and taking our lands.
We can compensate them by helping them take Ilaje and Ese Odo LGA of Ondo from you, as a pay back for your Yoruba interference into Igbo matters.
A bit like Russia took Poland lands after the WW2 and paid Poland back by helping them annex parts of Germany.

Be careful. You are not the only one that knows how to play these dark arts. This current Igbo generation have had to do alot of changes to how our fathers ran things.

I'm glad you now understand reasons why Igbo land will never be able to claim Ibani land. For Igbo illequipt and underfunded Biafran army to get to Ibani land, they will have to pass through the Ekpeyes, Ikwerres, Okrika and Ogoni land to get to Ibani land... Biafran illequipt and underfunded soldiers won't even make it pass Ikwerre land before they are crushed by NATO Forces. Bombs will be unleash on every important towns in Alaigbo , towns like onitsha, aba, owerri etc will turn to Mauripool

Republic of Alaigbo will be heavily sanctioned by the UN, EU, ECOWAS, AU etc the economy of Alaigbo will collapse.

Republic of Igbo land will end up like Libya, Sudan or Niger

AlexBells:
Ijaw have a culture of enculturation. You don’t need to be an Ijaw by blood same way they are claiming King jaja’s defendants. I can smell your Ewedu mouth from this distance plus your cone-head but for this situation you be Ijaw and nothing anybody will tell me

I'm glad you know King Jaja later became an Ijaw man and he died as an Ijaw man.

King Jaja was very lucky he was sold to the Ijaws, he would have end up in a pot of soup if he was sold to the ngwas back then

Igboid:
Fulanis are not powerful.

Fulanis and Ijaws are more powerful than igbos in present day Nigeria, you have to accept the reality Okoro