₦airaland Forum

Shym3xx:
Anyway, I just checked the countries using free/pure float in Africa and, it's only Somalia. Well, it seems Nigeria is in good company.

Outside Africa, only Canada and US use free/pure float (Canada is too rich with small population and the US has petrodollar, world currency, and massive gold) - while the UK, Australia, Mexico, EU, Chile, Japan, Norway, Poland, and Sweden do manage their float and their apex banks do intervene from time to time. I know of the UK and EU. And Japan doesn't just manage its currency's float- it manipulates its currency lol.

Nigeria and Somalia - two great countries and pace-setters when it comes to emerging economies.

Shym3xx:
Lol. Even the Bank of England intervenes all the time to keep the Pounds Sterling afloat. Now imagine a country as unstable as Nigeria, with a very weak currency and, volatility in everything - yet they think pure float is the best option and some investors would fly out of thin air to invest there. It will dawn on them soon.

Anyway, anyone interested in reading the implications of pure floating on emerging economies can read this research paper from UCLA (it cited Russia, Mexico et al): http://www.anderson.ucla.edu/faculty/sebastian.edwards/emerging.pdf

I don't know how Nigeria will escape hyperinflation (with the crazy inflation already plaguing the country) and most likely a default with this one. I'll be on the look-out, regardless.

As for the lousy economic theorists, who're no different from MBA holders who can't run a simple business, it'll dawn on you lot as well, when poverty hits you in ya faces lool.

jinglesbaby:
How many things are "Made in England" despite their good roads, hospitals, education et all? It's mostly because of taxes! We all go to China, India, Pakistan, Bangladesh and Vietnam to import "common pant (what we call pata in Yoruba)"! Even Marks & Spencer where I buy my undergarments go to Asia to buy! If we can start running "sweat-shops" sha like we have in Aba, maybe we will attract foreign investment too. The only things that are made in UK these days are "mixed-race babies and sham marriages" ! We dont have all these basic social amenities that would attract foreign investors no matter how willing they are to invest because of the foreign exchange policies. There are always two sides to a coin at the end of the day.

Guyman02:
I want to digress to Libya Central bank from our own CBN.

How many people here know that Libya now has 2 currencies and 2 Central banks in Tripoli and Tobruk with 2 different governments since after Nato baked regime change?.
The Central bank in Eastern Libya has its Dinar now printed in Moscow Russia (recognized by Russia and China) while the Central Bank in Tripoli prints a different Dinar in London recognized by US and the West.

The IMF recognizes the Central Bank Governor of Eastern Libya as legitimate but not the bank while the Bank in Tripoli is recognized as legitimate but not the Governor. Confusion!

Russia and China have decided to get their fair share of Libya resources as the country is now on the verge of partition like Ukraine by supporting the Government in Eastern Libya led by General Khalifa Haftar against the UN backed western installed Prime Minister Fayez al-Sarraj in Tripoli.
Most of the oil is in Eastern Libya and the west has decided to back the militia group called 'the Dawn' from Misrata as the new Presidential guard and a new war is anticipated to commence soon to recapture Eastern Libya from Libyan National Army led by Gen Haftar by the western backed militia.

This is how Libya has been exploited since the murder of Gaddafi by Nato backed forces with most of their gold reserves and money about $200b in their foreign reserves stolen by western banksters.
This is why many of us are angry with PMB when he calls us corrupt in front of western press and leaders.

kinibigdeal:
Have you ever been to Ekiti before?

Who knows, it might work but I strongly doubt it. My pessimism on its workability is from the fact that we had something like federalism which failed us (evidenced by the reasons given by the coup plotters) before the promulgation of decree 34. If you think federalism was working for us back then, then why the coup? What makes you think it will work with the caliber of leaders today?

Nevertheless, there are things like Local government autonomy, complete state House Of assembly autonomy, removing certain areas (like power generation and transmission) from the firm grip of the FG, relaxing certain laws, etc etc, all these if properly done will set a clean stage for seamless birth of federalism, that is if we still believe that we need it afterwards.

Shewunoshewa:
Don't be a stubborn goat!

It's evident that you struggled to counter my points.

The fact remains that for a culturally and religiously diverse country as ours, true federalism is what we must practice if we must be one country.
It's the reason the colonialists left us with the system when they were leaving.
True federalism has worked before and it will work again.

Any system would have worked for us if we were all one tribe. Unfortunately, we are not and we are too suspicious of each other.
The checks and balances in this system will always be compromised by religion and ethnicity.

DEAFandDUMB:
Greatings my noble compatriots, I've taken time to study and observe to polity which is already hitted up along political/ethnic lines. I realised that both party A and party B all clamour and yawn for a better Nigeria irrespective of their party idealogy but the route or method of approach in remoulding this great Nation back to what it use to be seems not to be working..
Having said that, I would want the great minds in these forum to come together as one and engage eachother in a great constructive discourse on the aforementioned topic above and see if we can at least set sail from
there..
What do you understand about True Federalism?

Do you think what Nigeria needs now at this critical moment of unrest both at the northern and southern axis is True fiscal federational government?

If you are against true federalism and total restructuring of the system, please can we have your reason and what are the other possible ways of cultivating an evalasting peace and oneness in this country...


Thanks as we await your intelligent inputs...

Chubhie:
Buhari, Sanusi lamido Sanusi, Elrufia and Burantai committed the massacre of innocent civilians while the nation looks the otherway!!!! Never in my interactions have I come across a nation as Nigeria that doesn't value human life.

Everyone needs to raise up and demand these men present themselves for justice! blood for blood!!! money can't buy them out this time around.

If by the Nigerian system all these men escape justice, I will personally take justice on the midget elrufia.

kinibigdeal:
People like you said he lied against Fayemi, he gave you a prove, now you talking about internal revenue. Anyway if you have ever visited Ado-Ekiti before, on the road to Fajuyi there is a wide screen board where Fayose usually announce the state revenue for the months. No Nigeria Governor as ever done that

icebebe:
Vanity

tuniski:
Get some clue u don't run govt with recovered loot or corruption proceed. U run govt with clue and ingenuity for today and the future.
Now that stealing is corruption how has that improved your life,how?

Codes151:
People can rant sha! I once said clean up was unnecessary until the oil issue with NDA was settled and companies operated on best practices!
Now u see what I am saying... this companies mostly don't build or use standards! They cause us a lot of problems.

fxskye:
If this post is true, it indeed confirms that the Mutiny unleashed by our ever-ready combatant gallant soldiers was justifiable to some extent.

And as such, those mutiny soldiers should be released and reabsorbed into army unconditionally.


The last administration relegated our national defense that BH forcefully taken part of territories in which thousands of Nigerian souls, be it civilians or security personnel, lost.


To serve as a deterrent, FG should pursue conviction up to their legally acquired properties seized and turned to be public asset.

Roadmike:
[size=16pt]This President is rather too narrow minded and parochial. All those his accusing of all manner of acts were very liberal minded. Imagine both Goodluck and Yar adua did not choose people from their enclave or hamlet as ADC or CSO. It tells of the type of President you now have. But check out PMB all must be Katsina or possibly neighbourhood of Katsina.

It tells you of the world view of the president[/size]

deeplow:
From the look of things, she seems at peace with whatever choices she has made, doesn't look forced. That Facebook post reeks of senselessness, immaturity, hatred, intolerance and pain.

I admit that it is sad, the way some useless muslims have chosen to take laws into their hands. It is just more saddening how people have chosen to react to it. If every muslim killed, every christian would be dead.

More prominent muslims just have to do more about this spate of radicalism and extremism. Without that, these sickening actions and reactions would continue.

isnovic:
The recent Yobe attack dude


According to Terror Monitor, an organization which closely monitors and reports terrorists actions globally, Islamic State affiliate group Boko Haram has showed off arms, ammunition and other items captured after a recent attack on Kanamma town of Yobe State, north east Nigeria.

According to reports, residents said the insurgents stormed the town on Monday night, shooting sporadically, before attacking the Divisional Police Station of the area and some shops in the town. According to them, the insurgents were on rampage in “search of food” and consumed beverages among other eatables in the shops.

The Yobe State Commissioner of Police, Mr Chika Maidam, who confirmed the attack said the insurgents, who came in their numbers, attacked the Divisional Police Station of the area. He revealed that three of his men were injured during the raid but have been treated at the Geidam General Hospital and discharged.

Source; http://www.nationalhelm.net/2016/06/boko-haram-sect-shows-off-its-spoils-of.html

Photo credit; https://twitter.com/Terror_Monitor/status/740703858087714816

Stolen:
So u expect them to manufacture certificate so Buhari can be President?


We need to head to Oduduwa and Arewa and practice this. SS/SE demand excellence. If left for us, President must have PHD.


Let us resolve Nigeria based on irreconcilable differences. I cannot be sharing country with backward people with Afghanistan reasoning.

danny56:
Mass sacking going on everywhere, go and get a skill and free yourself.. Be your own boss! The government can't help and won't help anybody.

mrvitalis:
When I said it here that this bombing is tompolo's hand work people never believed me

U may see pipeline pass through ur house and all that but to know the supply pipeline to major places u need the network plan which Jonathan gave to tompolo (what was he even thinking)

For those that's believe Nigerian army have no amphibian training... . No shout ICC AND armesty international after this two weeks

cindybella101:
On a serious note someone might lost his way on this road(s).

zuchyblink:
GREETINGS AGAIN FOR YOUR PAINSTAKING EFFORT TO LAY DOWN YOUR ANGER AND PROBLEMS IKWERRE PEOPLE HAVE WITH BOTH THE IJAWS AND IGBOS. IT IS VERY GOOD YOU ARE LAYING OUT THESE ANGER AND CHARGES WHICH A LOT OF US DO NOT KNOW EXIST, BECAUSE EVERY GROUP HAVE THEIR OWN GREVIENCIES AND NO BODY IS LISTENING OR TALKING ABOUT IT AS FRANKLY AS WE ARE TRYING TO DO HERE WITH RESPECT LATELY. I WANT TO POINT OUT HERE CERTAIN MISINFORMATION SOME IKWERRE PEOPLE HAVE ABOUT IGBOS HERE. 22 WRONG MICONCEPTION AND WRONG INFORMATION SOME IKWERRE PEOPLE HAVE ABOUT IGBOS AND YOU ARE FREE TO AGREE WITH ME ON THESE 22 FACTS OR DISAGREE AS IT RELATES TO HOW IKWERRE IGBO RELATIONSHIP HAS DEGENERATED WITH TOO MUCH WRONG INFORMATION AND MISCONCEPTION ABOUT IGBOS. (1) IGBO ARE NOT INTERESTED IN TAKING OVER IKWERRE LAND AND FOR YOUR INFORMATION IGBO LAND IS RICHER THAN IKWERRE LAND IN QUANTITY, QUALITY AND AVAILABILITY OF FERTILE LAND FOR AGRICULTURE, OIL DEPOSIT AND ANY SOLID MINERAL AND COMMERCIAL ACTIVITY AND FOR THESE REASONS IGBO DO NOT WANT TO TAKE IKWERRE LAND FROM YOU. ESPECIALLY IF IKWERRE IS DEVELOPED TO ITS FULL POTENCIAL AND IGBO IS DEVELOPED TO ITS FULL POTENTIAL WITHOUT THE CORRUPT LEADERSHIP THAT DRAGES EVERYBODY DOWN IN NIGERIA AND IN SOUTHERN NIGERIA. AFTER IJAW NATION IGBOS HAVE THE SECOND LARGEST OIL AND GAS DEPOSIT, EXPLORATION, SUPPLY AND EXTRACTION RIGHT NOW IN NIGERIA. IGBOS HAVE NEVER TALKED ABOUT THEIR OIL AND GAS POTENTIAL LIKE YOU GUYS DO. IGBOS HAVE MORE THAN 30 LOCAL GOVERNMENT AREAS IN IMO STATE, ABIA STATE, ANABRA STATE THAT HAVE HUGE OIL AND GAS DEPOSIT NOT TO TALK OF IGBOS IN DELTA, AKWA IBOM AND CROSS RIVER STATE, BUT IKWERRE HAS ONLY FOUR LOCAL GOVERNEMT AREAS AND IT SEEMS THAT IKWERRE PEOPLE FORGET THAT IGBOS HAVE MORE OIL AND GAS 100 TIMES OVER THAN WHAT IKWERRE HAS BUT YOU GUYS DONT EVEN THINK LIKE THAT AND ALL I HEAR IS HOW IGBOS WANT TO TAKE OVER IKWERRE LAND BECAUSE OF OIL AND GAS - WHAT A BALLONY. (2) NOW, THE IS ANOTHER MISCONCEPTION AMONG THE IKWERRE PEOPLE I HAVE MET, THAT SOMETIMES I DO NOT UNDERSTAND MAYBE BECAUSE THE IKWERRE PEOPLE HAVE NOT REALLY GONE TO KNOW MORE ABOUT THEIR NEIGHBOURS IGBOS AND IJAWS OR AT LEAST LEARN OR GO TO IGBOLAND AND IJAW LAND TO DISPROVE SOME MISCONCEPTION ABOUT IGBOS AND IJAWS. JUST LIKE A LOT OF IGBOS LIKE MYSELF AND MANY MORE HAVE TRAVELLED TO IKWERRE LAND AND GIVE EAR TO THEIR STORY AND LISTEN TO THEM AND JUST LIKE I TRAVEL AND LISTEN TO OTHER TRIBES AND GROUPS IN NIGERIA TO LEARN AD UNDERSTAND THEM AND KNOW ABOUT THEIR POTENTIAL. ALSO THEY ARE IGBOS AND IJAWS TOO WHO HAVE NOT TRIED ENOUGH TO HEAR THE STORIES AND PAIN OF OUR SMALL NEIGHBOURS AND THAT IS WRONG TOO. BUT A LOF OF IKWERRE PEOPLE DO NOT WANT TO UNDERSTAND WERE THY IGBOS ARE COMING FROM. (3) YOU WROTE- OKACHIKWU DIBIA QUOTE " What our sworn enemies should do is not to be jealous about our economic location, rather they should accept us for what we say we are and work with us as friendly equals. Afterall Igbos who survived slavery and Arochukwu cleansing and decided to remain in Ikwerre are there in Ikwerreland and doing well. We rescued them and have taken care of them. Those few Ikwerre people that supported Igbo in suppressing and victimising Ikwerre are just a few Judases in Ikwerre. We know them very well. Ikwerre will forever remain Ikwerre until we get superior historical, sociological and economic evidences to show otherwise." UNQUOTE OKACHIKWU DIBIA