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Politics › Re: Naira "Appreciation": Why Nigerians Should Not Celebrate by jomoh: 10:33pm On Aug 04, 2015*

MizMyColi:
This was my reaction when I saw the news of Naira appreciation.

I am stepping out of my work place now.
I will read the OP and draw a conclusion as soon as I'm settled.

*modified*

I have read the OP

Well‎ ‎
*sighs*

Is it that Mr Godwin is simply unintelligent?
Is he under pressure of any kind to perform?‎
Why the cosmetic change?
‎
To be honest, I want to see transformational progressive change, but if Barcanista's ‎writeup is anything to go by, then it means we're still far from anywhere near el-dorado.
Smh really.‎

I've taken my time to see that you're truly a critic and not a wailer that is why I felt the need to let you be cleared on some things.

Honestly it is hard for someone to respond to barcanista's threads without resulting to insults. When you see someone who once admitted to knowing little about economics condemning an economic/fiscal policy, makes it very disturbing and annoying.

Having gone through your responses to issues and concluding that you must be an enlightened woman, I will like to start by asking this question. In what sane country do you see people selling foreign currencies on the street all in the name of BDCs and speculators? NONE.

The fact that he mentioned banks selling dollars to customers shows that he knows little about what he is criticising. Where in the country does he see banks selling dollars to people by hand. Any business man willing to do business with bank should approach his bank and request for purchase of dollars. The bank in turn presents his request to the CBN in form of Bidding which is done twice a week. If he is successful at bidding, the dollars will be paid into his domiciliary account while the amount in Naira, equivalent to dollar he requested for, will be deducted from his account with the bank. All this at a very low official rate which is always lower than the Black market/BDC price. If you are the businessman which one will you prefer official one N199 from bank or black market/BDC 240.

So which businessman was he talking about that will go to a BDC to buy $50K from a mallam at a high rate and go to bank to deposit. Even if there are people like that, it only goes to show that either the source of getting the money is questionable or the purpose for which the money is meant is.

I must also add that while filling the form for bidding, you have to state for what purpose you need the money and what business you are into. So anyone trying to avoid going through the CBN most have something he/she is hiding.

Let's go back to CBN's directive. The CBN woke up and realise the sanity behind what some people has been shouting that BDCs and Speculators are destroying the economy in more ways than one. It is encouraging Money laundry, corruption, distabilisation of the currency(because the CBN don't know the amount of dollars in circulation) e.t.c.

Now CBN wants to stem the destructive influence of speculators and BDC's some people are not happy. With these directive, all transactions will have to go through the CBN making all transactions traceable from initiation to termination.

A smart and clean businessman will go through the bank to buy the dollar. The banks are not refusing to sell they just don't care what you do with it after buying. You might decide to withdraw it and toke home to design your house. Just don't bring it back for deposit because its not our official currency. If you wish to transfer oversees, tel your account have its BVN so that we can know the real owner and who to hold accountable if the transaction is found questionable later.

Now the problem I see is that most people are used to PDP's destructive way of handling the economy that the find it hard to see the sensibility in this directive. The case of barcanista is different not only is he finding it hard to adjust he is very pained that the correction it being made by the government of someone he campaigned rigorously against. Instead of him to accept that he miscalculated and supported the wrong person, he is willing to condemn every policy of the government just to remain relevant at the expense of our great country's progress.

I worked with Access bank, GTB and am an accounting Graduate.

8 Likes 1 Share

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 8:09pm On Aug 04, 2015

989900:
Excellent! You just photocopied my mind.

My question/concern is, why has the FG and CBN turned a deaf ear to this since 2002? The banks, CBN, and FG are all in bed together having a three0me?

I watched Boyo totally rip apart one of the CBN's deputy governor and CEO of one of them banks on Channels TV. It's all on youtube and more.

So far, I've not seen anyone disprove his theory/proposal. I've searched so hard; can't find one!
Except those that think he meant disbursing funds to arms of government in dollars in lieu of "dollar certificates" (which is what he meant).

First let me start from the people that prefers using of real dollars to certificate dollars. Those people has not really understand the concept at all. If physical Dollars are paid in lieu of certificate, what will eventually happen is what is happening presently. Dollarisation of the economy. Why have physical dollars in our economy when it will only harm the economy. Its either they've not assimilated the theory or they are ignorant as to the effect of having physical dollars in the economy through the BDCs or they are being mischievously selfish.

Like I said in my conclusion, it is very brilliant and at the same time very risky.

Had it been that the strength is brought about by the strong economy, any shocks serulting from it will be absorbed easily. For example if we have successfully diversified and we decide to deploy this program then we would only need discipline in managing the kind of recession in the crude oil market presently but in a situation that we're still dependent on a single commodity, in times of recessions like this how dollar inflow will just drop suddenly leaving us with Naira chasing the few remaining dollars in the economy.

But if we have a very focused government and state governors determined to work as against the thieves that we have presently. We can deploy it, cut down on our imports of finished goods and encourage people to go massively into production by granting import waiver to machines and equipments. If we are not able to get it right in three years, its better we revert to the previous one. Retaining it after not getting right in three years will be disastrous.

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 4:46pm On Aug 04, 2015

989900:
What do you make of Boyo's assertion?

Kindly go thru the links too.

"Going forward, the Central Bank of Nigeria (CBN) should be more responsible in the management of the monetary policy. For instance, the CBN’s harebrained policy of monetising the monthly, statutory foreign exchange allocations due to the various tiers of government, distorts our macroeconomy on so many levels.

It creates excess liquidity by flooding the money market in one fell swoop with a surfeit of Nigerian Naira that now turns around to shop, sometimes inordinately, for foreign exchange, goods and services, etc, thereby worsening the exchange rate and inflation rate at the same time."
--Henry Boyo

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

http://eaglereporters.com/2015/06/01/buhari-vs-a-clueless-mpc/

I have gone through his assertion and i have this to say about it.

I think it is a very brilliant idea of fiscal policy. One that seeks to strengthen the currency by controlling the supply of naira to the economy. It is a design that will ensure that the currency is very strong against the global currency but like every fiscal policy, one needs to be very careful in its application by considering merits and otherwise.

While the merits of a strong Naira against the dollar are not farfetched, the negative effect of it, if not well managed should only be imagined than experienced. Increased purchasing power, Reduced inflation rate, Reduced interest rate, fuel subsidy removal, are all merits of Strong Naira against Dollar. They all look juicy but mismanagement of one of these advantages -Increased purchasing power- has the ability to rubbish all the merits stated.

If increased purchasing power is not well managed, I fear Nigeria will never attain the industrialised state that we crave. Mismanagement of this point will only turn our economy into a buying economy -which is very dangerous- instead of a selling one. A country with a currency that has a very high purchasing power has to be able to effectively manage every sector of its economy.

If we cannot manage every sector of our economy, it will collapse eventually because people will prefer to go to where the powerful money can be enjoyed (public infrastructures and quality services).

People will prefer to buy foreign products rather than locally made ones (Ministry of commerce and industry needs to be on top of their game, customs services is highly needed for enforcing restrictions)

In short, there are lots that could go wrong if it is not well managed. They are too numerous to state here. basically it depends on what brings about strength and what time it became strong. You can read more here

http://www.economicshelp.org/blog/3457/currency/problems-of-a-strong-currency/

On the other hand, if we have a focused and disciplined government that can effectively manage such, using the strong purchasing power of the currency to buy equipments needed for our industrialisation and having product standard like the USA, our economy will be one of the strongest.

The question is can we honestly say we are ready to manage this kind of fiscal policy that requires a lot of discipline?

Conclusion

I think it is a very brilliant idea but a very risky one for a very corrupt and unorganized economy/country like ours

1 Like

Politics › Re: REPLY: Power Supply Is Almost Constant In My Area.Why?what Happened?by MizMyColi by jomoh: 4:03pm On Aug 04, 2015

moca:
Recently,infact June to be precise,the transformer in my area spoiled.
Phcn was asked what happened and they said oil finished.

So the community has no choice than opt for a new transformer.
Of course they contributed money to buy a new one.
That,i can stomach but what baffles me is that we paid Phcn more than one million to come and install it

When I asked why it's so,i was told that's d norm. U still have to pay them always to come for maintenance else it might spoil again.
Now u still pay ur usual Phcn bills.

Pls,is this the improvement?

Still can't believe this. Had I not paid and have my teller and receipt,i will say this is a lie.

Where r we heading to from here?

Can someone tell me any good thing that has ever come out of this nation?

Our sense of reasoning has been eroded so much we simply accept and praise d norm instead condemning and fighting against them.

Now,ugu leave of 50 bucks can't make a pot of soup like before.

Must you blame the government for you and your community's cluelessness to the fact that PHCN's power distribution under which transformers fall has been privatised by your cluless GEJ?

Must you blame the government for you and your community's cluelessness to the fact that it is the property of the Company managing the distribution in your area.

Must you blame the government for the fact that you, your community and its elders were so brainless, clueless, ignorant and dumb to be SCAMMED by the electricity distribution company in your area.

Yet you could not keep your ignorance to yourself, you had to come online and display it.

Get a fcvking life slowpoke.

1 Like

Politics › Re: REPLY: Power Supply Is Almost Constant In My Area.Why?what Happened?by MizMyColi by jomoh: 3:48pm On Aug 04, 2015

nairamaniac:
Gen. Comrade Jomoh. We wouldn't kill them when we catch them. we would treat them as our brothers and sisters. we would wash their heads in river Jordan. Baptise every single one of them . we would re orientate them. wash every atom of Bad luck Jonathan from their lives.
Sincerely some of them are still finding it difficult to accept Buhari due to how much insults and curses they have casted on him. it takes wisdom and humility to praise and bow down for the rejected stone when it becomes the corner-peace.
But they would finally learn and accept the realities and truth of life.

Truly we wont arm them in real life cos we are not hoodlums but progressive minded intellectuals. It is our duty to always corner their negative propagandas with FACTS.

Surely it takes more than personal hatred and vendetta to have the kind of zeal and dedication that they are showing in their quest to discredit a human being at all cost. Am very sure that by the time the long arm of the law catches up with their thieving sponsors we will be able to rest.

Its quite unfortunate that one of the NL mods I strongly believe is on their payroll because I cant seem to understand why almost every article of their chief wailer is pushed to the front page despite clear evidences and comments showing how misleading his threads are. it goes to show the level of favoritism, injustice and corruption on NL.

A lot of truth revealing threads languish in the background while it seem like a dedicated mod is appointed to the threads of someone always seeking to mislead the public because of is personal vendetta. If those kinds of threads are the types allowed by Seun on his forum then i pity the Nigerian youths that see this forum as where they can get reliable information. I also pity the image of our dear country on the conclusions of Non Nigerians on this forum based on all those misleading threads.

Nairaland has grown to be the face of Nigerians and we have to be very careful about what outsiders read on the front pages of this great forum irrespective of the political, religious and ethnic inclination of the owner and its workers.

2 Likes

Business › Re: Chadians, Ghanaians, Others Storm Nigeria For Dollars-the Nation by jomoh: 1:14pm On Aug 04, 2015

free2ryhme:
strange policy of rejecting dollars into your account.

Very strange indeed but theres no much the country can do about it presently.

Naira in circulation is too much to be mopped up. The debt on the CBN is too much to sell treasury bills and bill bonds. The safest possible means will be to instruct banks to recapitalise. This will go a long way to mop up the excess cash in the economy without the CBN having to spend anything.

Politics › Re: PHOTO: Another Nigerian Soldier Praying In Borno Before Attacking Boko Haram by jomoh: 10:01pm On Aug 03, 2015

Na was seriously Bastardized under GEJ

Did i just see a soldier wearing a snicker, shoe or whatever that is in a battle front? Yet he still has the morale to go to battle. #ChangeBeliever
#Hope #Patriotism
http://3.bp..com/-PzzyuKGJC4U/Vb-_nMrV0JI/AAAAAAAABK4/MlsWeo4hdHE/s320/po.jpg

Dont worry Soldier effect of change will soon get to you.

Islam › Re: 13 Reasons Why I Embraced Islam – Emmanuel Adebayor by jomoh: 5:48pm On Aug 03, 2015

dammykrane:
xo? Gona get wah he signed 4.

Everyone will get what they signed for but is risk worth taking.

Why don't you get an assurance before its too late.

Islam › Re: 13 Reasons Why I Embraced Islam – Emmanuel Adebayor by jomoh: 5:11pm On Aug 03, 2015*

dammykrane:
judgement day shall tell sir!

Don't u think it would've been too late.

Are you willing to take the risk and is the risk worth taking?

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 9:55am On Aug 03, 2015

SangoCrusader:
@jomoh

http://www.economist.com/news/middle-east-and-africa/21656700-desperate-measures-bank-toothpick-alert

Some more homework for you... that article encapsulates everything wrong with the nitpicking job Emefiele is trying to do. He is starting to earn a reputation as a buffoon and his failure at stabilizing the Naira is evidence of his buffoonery.

Here is the article from the Economist:

CENTRAL bankers may talk in martial terms of defending currencies against bloodthirsty speculators, but they seldom suffer wounds more grievous than a bruising of their egos. They can, however, cause untold harm to economies, as the Central Bank of Nigeria (CBN) is doing in puffing up its exchange rate.

The naira has been hit hard by a fall in the price of oil, Nigeria’s main export. The official exchange rate has slumped by almost 20% over the past year to about 196 naira per dollar. The black market rate, a more accurate gauge, is close to 230. Instead of allowing the naira to devalue, the central bank is trying to defend it by blocking imports. It has drawn up a list of disfavoured goods, and will not grant foreign exchange to import them.

Godwin Emefiele, the governor of the central bank, said he wants to conserve foreign reserves (which have fallen by about a fifth over the past year and now cover only six months of imports) and stimulate local production. “Nigeria cannot attain its true [potential] by simply importing everything,” he said.

The hit list appears to have been drawn up by someone wandering around a home and a building site and randomly pointing at items. It includes Indian incense, toothpicks and wire rods as well as more obvious luxuries such as private jets (demand for which could be slashed by simply barring government officials from flying in them). It also includes basics such as rice and tinned fish. Nigeria does not produce enough of these things to feed itself, but no matter. The nation must be shielded from foreign sardines.

Economists find the policy baffling. Central banks usually prop up their currencies if they are worried about inflation, or allow them to devalue to depress imports and stimulate exports. Nigeria, by contrast, appears to be set on achieving both an uncompetitive exchange rate and higher inflation. Whereas many investors were impressed by the previous CBN governor, Lamido Sanusi, who was sacked for exposing corruption, they fret about the harm being inflicted by the current one. Some wonder which would be worse for Nigeria: allowing him to serve the remaining four years of his term or undermining the independence of the central bank by sacking him.

I wish to read the CBN response to this but before I do that, let me respond to this

This people never provided reason why they said banning those things were bad for our economy except for rice which is obvious we don't produce to the level we need.

How can they say restricting government officials from boarding private jet will curb the demand for it. Apart from deziani Maduekwe, how many government officials used Private jets and how many will even use it under PMB.

Though in all honesty this is really cheap but I don't know how banning toothpick and the likes can result to inflation.

Rice. Yes banning rice was not too good, but restricting the amount of import would've sufficed.

All in all, this is just a microcosm of the whole thing it does not negate anything I've said in my previous comment.

We are talking of comprehensive blockage of leakages of Dollars out of our economy using all means necessary.

The petroleum products import reduction is still there. The control of illicit funds in the economy.

We still have control of Naira released into the economy(cashless policy)
on another side.

1 Like

Education › Re: What Does "Hope You're Fine?" Mean? (i'm A Foreigner) by jomoh: 7:03am On Aug 03, 2015

Question answered

Politics › Re: War Against Money Laundering: Banks, PDP Kick Against Cbn’s Policy by jomoh: 7:02am On Aug 03, 2015

Why is the OP calling Barcanista and his illiterate gang?

Don't you know they are being slaughtered on this thread

https://www.nairaland.com/2497568/reply-power-supply-almost-constant#36548748

11 Likes

Politics › Re: REPLY: Power Supply Is Almost Constant In My Area.Why?what Happened?by MizMyColi by jomoh: 6:29am On Aug 03, 2015*

This is a TKO for all TANoids

Ye ***holds my head and bends down***

God save me o dat blow nearly hit me for mouth.

Lalasticlala, Ishilove, Seun Obinoscopy you people better come and see o before they kill all Nairaland TANoids with blows for here o.

This my Progressives are wicked o. As PMB dey set Ambush for Boko Haram, Militants and GEJs thieves, Nairaland Progressives don set ambush for dem TANoids. Unknowing that they've received Military training from PMB, Barcanista and his gang of Illiterates strolls into the trap.

Some of the are missing already like temitemi, FireFire, MzMycoli, Orremusanctus, Pa Chukwudi44

Gen. ~~Buratai~~ nairamaniac. Nice Job the ambush was well laid.

18 Likes

Politics › Re: Nigerian Military Arrests Boko Haram Commander, Rescues 178 People (photos) by jomoh: 5:09am On Aug 03, 2015

Good

Travel › Re: 24 Things I Learnt While In Nigeria by jomoh: 11:15pm On Aug 02, 2015

An2elect2:
I dont feel inferior towards white people and i don't see 'blacks' as superior to others, am i not a Nigerian

You're a beauty. FACT

Travel › Re: 24 Things I Learnt While In Nigeria by jomoh: 11:12pm On Aug 02, 2015

UrennaNkoli:
If it was a white man selling the corn and a black man approached him to buy and he said 'nìgga wetin you wan buy?" will you term it as racism from the white man or not?

You have to consider the origin of the two words.

"Nigga" was coined as a derogatory word while "chinko" was just a derivation from china and their way of speaking.

It was actually for fun rather than derogatory.

5 Likes

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 7:56pm On Aug 02, 2015*

989900:
What do you make of Boyo's assertion?

Kindly go thru the links too.

"Going forward, the Central Bank of Nigeria (CBN) should be more responsible in the management of the monetary policy. For instance, the CBN’s harebrained policy of monetising the monthly, statutory foreign exchange allocations due to the various tiers of government, distorts our macroeconomy on so many levels.

It creates excess liquidity by flooding the money market in one fell swoop with a surfeit of Nigerian Naira that now turns around to shop, sometimes inordinately, for foreign exchange, goods and services, etc, thereby worsening the exchange rate and inflation rate at the same time."
--Henry Boyo

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

http://eaglereporters.com/2015/06/01/buhari-vs-a-clueless-mpc/

Will get back to you once I go through it.

SangoCrusader:
@Jomoh

You too, please share some of that high grade weed with me.

You must be high as a kite to believe these policies will have any effectiveness whatsoever. My advice is to jump ship and convert your total bank balance of N242 to $1 before it is too late.

Bro no be you give me the weed ni. E don finish for where u dey get am?

But on a more serious note, I will like to see your contrary and detailed analysis as to why you think it won't work.

Anything short of it then maybe you should come back to this weed you introduced me to and stop taking that new expired weed, its not good for your head. grin

2 Likes

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 7:54pm On Aug 02, 2015

stagger:
How will demand for dollars reduce when we still import petroleum products and a lot of school fees remittances to schools abroad still occurs?

Did you read the part where I talked about resumption of refineries. Go back and read it.

Yes we still remit school fees abroad but I can categorically say that the total school fees remittance abroad in a whole year can never be up to the amount we spend on refined petroleum products quarterly.

Islam › Re: 13 Reasons Why I Embraced Islam – Emmanuel Adebayor by jomoh: 2:43pm On Aug 02, 2015*

Allahu Akbar

Even most muslims never thought of things to this level.

And unfortunately these are what most muslims who convert to Christianity all in the name of following christ don't know.

93 Likes 6 Shares

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 2:24pm On Aug 02, 2015

989900:

Well said.

If the CBN can pull a psychological move on the market by letting the Naira appreciate by a Naira or 2 at this time, I guess all those hoarders will flood the market with dollars in quantum.

OTOH, the CBN's monetary policy causing excess liquidity will have to be addressed for a long lasting cure.

You're right but unfortunately there's little the CBN can do on the excess liquidity for now for the following reasons.

1. The Debt being owed by the FG through various Bonds is monumental. Issuing another bond to mop up the excess liquidity will only increase the debt and this would be like postponing the trouble.
The only solution I see to it is for the CBN and NAICOM to compel Banks and insurance companies to increase their capital base. This will mop excess cash and at the same time make such organisations stronger.

2. The stolen funds circulating in the economy is also one reason why there's excess money in the system. Until the government starts to recover those funds from banks where they are stashed the excess Naira will remain in system making the supply of Naira in the economy greater than Dollars available to balance it.

Politics › Re: Saraki On Tiger’s Back Needs Help (1) by jomoh(op): 2:05pm On Aug 02, 2015

Lalasticlala, ishilove, Seun

Politics › Saraki On Tiger’s Back Needs Help (1) by jomoh(op): 2:03pm On Aug 02, 2015

“Police confirm Senate forgery.” published on July 26, 2015, by a national daily.

“There was a young lady of Riga/ who [jumped] with a smile on a tiger/ they returned from the ride/ with the lady inside/ and the smile on the face of the tiger.” Limerick. Anonymous.

Last month, about three weeks after Senator Saraki and Honourable Dogara caught everybody by surprise and pulled off the civilian equivalent of a political coup against the leadership of their party, I published an article titled SARAKI PROVOKES MOTHER OF MEDIA WARS.

Since then, nothing, not even President Buhari’s visit to the US, or the announcement about one million barrels of oil being stolen by officials had pushed the fall-outs of that step by dissidents within the All Progressive Congress, APC, off the front pages. The announcement by the Nigeria Police “confirming” a forgery of the documents of the National Assembly, NASS, was, to me a foregone conclusion. It would have amounted to a miracle of the twenty-first century if the police found nothing.

The matter is now pushed to the two courts operating in any democratic society – the law courts which have the Supreme Court as its head and the court of public opinion. So, a monumental legal battle had been super-imposed on the media war.

Already, a new dimension had been added to a political conflict which would certainly consume more than those directly involved. The integrity of the judicial branch of government will be tested to its limits. One certainly hopes this is not another case which will end with Justices declaring that “our hands are tied”. But, before we reach that point, a few observations are necessary.

One of the greatest tragedies in life occurs when someone actually gets what he wants only to be confronted with unpleasant and unforeseen consequences. An old man, who hosted me, late Mr Amo, living in Melrose, Massachusetts, USA, in 1969, said, several times, “Be careful what you pray for, you might just get it and regret getting it.” At the time, I thought the old man was suffering from what Shakespeare, 1564-1616, described “second childishness”. How on earth could a prayer answered become a source of remorse? Forty-six years after, I now realize that one of the most profound ideas had landed on my laps free of charge. Never again will I pray for anything without at the same time pleading with God not to grant my wish if it would end in disaster.

Certainly, when Senator Bukola Saraki reached for the Senate President’s chair, he could not possibly have imagined that he would unleash a political war which would claim as one of its victims his loving and loved wife. As she now chats with the Economic and Financial Crimes Commission, EFCC, which has now received a new lease on life, facing charges of money-laundering, for transactions completed years ago, Mrs Saraki must be wondering if the Senate Presidency is worth all the anguish she now experiences. She must certainly be aware that most Nigerians, believing in jungle justice, and also hungry and angry, accept mere allegation as proof of guilt. They are not waiting for any court to give verdict; they have declared the poor woman guilty. That is one of the early tragedies which had got the APC government off to a start which nobody expected when the alliance was being formed.

Senator Saraki is now hanging on the horns of a self-created dilemma. Irrespective of the decision he makes, to step down or to stay put, he will henceforth be regarded as a traitor by a large segment of the APC. Yet, it is doubtful that he can return to the Peoples Democratic Party, PDP, and be trusted – giving the fact that he was accused of decamping because his presidential ambition was impossible to realize with Jonathan in the saddle. Indeed, his return to the PDP might deepen his wife’s problems as well as his own. Today, it is the wife who is being accused, almost six years after they left government house. What prevents the same EFCC from raking up charges against him? As one former Governor in the Southwest told me confidentially, “Dele, there is nobody who ever held the offices of President, Governor or Minister against who a case cannot be made; because nobody is perfect.”

Meanwhile, those who mocked Asiwaju Bola Tinubu when the “palace coup” occurred, calling him a local champion, upstaged by more savvy politicians, might have been hasty in their observations. Saraki might turn out to have been rash rather than strategic. It might become a very costly mistake in the end. With regard to war, retired General Omar Bradley had in the early years of the Vietnam War described it as “the wrong war, in the wrong place, at the wrong time”. He was shouted down when the Americans were winning; until they lost. Yankees forgot what Richard Neustadt, had written in POWER AND PRESDENTS, that “the only battle that counts is the last battle”. Saraki won the first battle. But, it would appear that the tide of conflict is changing rapidly against him. The two options open to him are fraught with danger for his political survival. Whether he stays on or steps down, he will need help from outside the political parties – neither of them will be merciful in dealing with him. “A man cannot be too careful in the choice of his enemies” (Wilde, 1856-1900, VANGUARD BOOK OF QUOTATIONS) …

http://www.vanguardngr.com/2015/08/saraki-on-tigers-back-needs-help-1/

Politics › Re: Before The Honeymoon Ends In Divorce, Simon Kolawole Warns Buhari by jomoh: 1:21pm On Aug 02, 2015

SenseiX:
https://www.thecable.ng/honeymoon-ends-divorce

Note That The Cable Editor Simon Kolawole has been a staunch Buhari supporter for 12 years and was reportedly on the shortlist to be spokesman before Femi Adesina was picked so he can't be called a wailer by the sycophants

No he's definitely not a wailer but you are(category 1). Just by the single use of the unbolded word, you exposed yourself.

So don't hide behind a category 3 critic.

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 1:01pm On Aug 02, 2015

cmt1:
Best analysis so far. Keep up the good work.

Thanks bro.

2 Likes

Politics › Re: Saraki Seeks Emir’s Help On Buhari by jomoh: 12:51pm On Aug 02, 2015

duscollins:
Saraki remains the obvious choice of the Senate, he should be allowed to do his job.Where is the independence of the national assembly in all these?

Who is disturbing him from performing his duties. I don't see in the article where it is stated that APC have anything to do with him of recent.

Only him running around when nothing is chasing him but his conscience.

2 Likes

Politics › Re: Saraki Seeks Emir’s Help On Buhari by jomoh: 12:46pm On Aug 02, 2015

phyllosilicate:
I pity the man, he no longer have a base. He is neither in APC nor in PDP. Some of those senators shouting his name are after Juicy committee chairmanship. When APC has his time, even the PDP senators would desert him.

Lol. Same way his praise singers on Nairaland has suddenly lost their ~~voices~~ keypads.

Politics › Re: Senate Forgery: Judge Orders IG To Appear In Court by jomoh: 12:43pm On Aug 02, 2015

temitemi1:
Arase need to explain himself

Explain what? That forgery is not a criminal act of felony and a breach of the provision of the constitution of the federal republic of Nigeria? Which they swore to uphold?

Even the judge himself has made it clear.

Jaymaxxy:
He said, “The court is a bit wary on an ex parte proceeding to allow the plaintiff (Nnaji) to have his day in court because the courts are not created or established to supervise the National Assembly in the way and manner it will run its own constitutional duties, except where its acts border on a substantial infraction of the constitution, which goes beyond its own internal rules or procedure, or the application of its standing order.

www.punchng.com/news/senate-forgery-judge-orders-ig-to-appear-in-court/

Politics › Re: Senate Forgery: Judge Orders IG To Appear In Court by jomoh: 12:42pm On Aug 02, 2015

Jaymaxxy:
He said, “The court is a bit wary on an ex parte proceeding to allow the plaintiff (Nnaji) to have his day in court because the courts are not created or established to supervise the National Assembly in the way and manner it will run its own constitutional duties, except where its acts border on a substantial infraction of the constitution, which goes beyond its own internal rules or procedure, or the application of its standing order.

www.punchng.com/news/senate-forgery-judge-orders-ig-to-appear-in-court/

Business › Re: Conspiracy Theory Of What Could ‘happen’ To Naira/dollar In The Next Few Weeks by jomoh: 12:04pm On Aug 02, 2015

DEGREE2466:
And Buhari has been doing what?

It is obvious Mr. President does not know economics when he made that statement "I will make one naira equal one dollar".

It is the forces of demand and supply that determine the purchasing power parity (PPP).

You're the one who obviously needs a lesson on economics.

The government has placed ban on purchase of unnecessary items reducing the demand for dollars to purchase them invariably increasing the supply of dollars.

The government has made sure all credit/debit cards with accounts domiciled in the country cannot spend more than the amount stipulated when used out side the country. This will reduce the amount of dollars leaving the Nigerian economy invariably increasing the supply of dollars.

The CBN has refused to effect foreign transfers from account that has no BVN. Most politicians who does not want to be directly linked to the money in the dollar accounts of companies they used to front for syphoning money would find it hard to transfer their money that are in dollars. They will be forced to sell the dollars in their account or allow it to remain their and eventually loose value. Either way the dollars for supply in the economy increases. The only other option is, they withdraw the dollars and smuggle it out of the country but they risk being caught. The one in Naira account too will not be able to be transferred reducing the demand for dollars and invariably increasing its supply.

All the above policies ensures that the demand for dollars is drastically reduced and eventually when supply finally starts to outstrip dollars Naira will gain tremendously. Though not totally enough but it go a long way to reduce the tension on dollars.

Here are some other areas that can affect the demand and supply of dollars(not exclusive)

Foreign reserve
It is on the increase which will also increase the supply of dollars Nigeria have.

Resumption of refineries
The resumption of refineries will reduce the demand for dollars to purchase refined crude oil from foreign countries and on the flip side supply of dollars for necessary transactions will increase.

Ban on Nigerias beans and other export to europe
This will have negative effect on the Naira unless the FG does something about it real quick because it will reduce Nigerias foreign receipt of dollar thereby reducing the dollar supply to the economy.

So far the economy is on its way to recovery. Thanks to PMB.

22 Likes 6 Shares

Politics › Re: Saraki Seeks Emir’s Help On Buhari by jomoh: 11:06am On Aug 02, 2015

phyllosilicate:
Saraki should know that it is impossible to please Buhari and PDP at the same time. He should make his choice.

In the last meeting of APC governors, they were all against him. They only differ on dealing with him now or after the police investigation. The way senators reacted to the nation's article showed that when the line is drawn, northern senators won't be against Buhari. As a betrayal, his best bet is to do what he knows how to do well, betray Ekweremadu to save his head.

He has already made his choice. He should learn to live with the consequences.

4 Likes

Politics › Re: We Now Have What It Takes To Defeat B’haram – PMB by jomoh: 6:02am On Aug 02, 2015

Baba doing his best to confuse BH while scheming to hit them hard

1 Like

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