₦airaland Forum

feedthenation:
Very good development...thanks largely to GEJ efforts.

I hear you.everything GEJ.Wailling wailer!!!!!

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil price collapsed from around $147 to $38 in 2008 due to the Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60 and the administration faced its first supply shock, the CBN had to devalue the Naira twice within a period of 4 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side. Remember Ben Bruce #BuyNaijaToGrowTheNaira? It's about demand management.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Bevista that was a great analysis.Lets support Made in Nigeria goods.

Ikenna17:
Bro, let's be honest and tell the truth. Going back to the so called "igbo coup" you'll find out that one of the majors was Yoruba, Ironsi was also on the hit list but got wind of the coup and mounted resistance in Lagos. And the so called coup leader, Kaduna Nzeogwu was only igbo by name only. For God's sake ,the man was Born and brought up in the northern Nigeria and could speak more Hausa than igbo.

Meaning what? Go and read details anaylsis of event leading to the first milatary coup in nigeria by Mowa Omoigui before you coment.The igbos where bent on subduing all other tribes. The igbo officers took the wrong steps that led us to where we are today.

urch111:
The NPF are the most distasteful liars I have ever come across after Lie Mohammed. they said a little above 7m was recovered and they displayed more than 9m in the picture. Did they add their own money to the rocovered sum? A bundle of N500 is 250k, count how many bundles you can see and check for yourself.
I will bet my last penny these guys in the picture are not the robbers, to appear efficient, the NPF will just round up some hoodlums in a neighborhood and tag them arrested armed robbers.

.


Chairman do the counting and tell us how much you saw there Olodo

edlion57:
Money on dat table is more than 9 million

.


my guy you need to go back to school.The money on that table is three stack of 500 notes and thats 7.5 million naira stolen from a firstbank branch as we can see from the wrappers.

Another basta.rd born to the family of FFK.

Another bastard born by one of the men that bastadize Naija.

Philadelphia:
It is true that First bank laid off a lot of their staff but it is a lot of top management staff and not secretaries.
I am 99.9% sure of this info. Please don't ask me how I got it

secretaries were laid off in dec 2015, 31 service executive on 21st jan 2016 and on 1/2/2016 some very senior staff were laid off too from source.

ronald4lif:
Oh yea? A friend got me a license last year in absentia and he never went through any driving test but used my photograph. And I never had a problem with any road safety officer or police when I showed it to them upon request. He might have paid more than the official fee though and I can tell you it's genuine.

fake

[quote author=praxs post=42370145]Airforce or army[/quote
they belong to the Nigerian Airforce.

todayboy:
Buhari is just wasting time chasing enemies than fighting corruption we need economic improvement than the nonsense media trial he is doing now I can bet my life non of this people will go jail except his main enemy dasuki that handcuffs him 1979

So you were the one that handcuffed Buhari in 1979. Read your book, you will not. '1979 ko 1900 ni' Lodi.

todayboy:
Buhari is just wasting time chasing enemies than fighting corruption we need economic improvement than the nonsense media trial he is doing now I can bet my life non of this people will go jail except his main enemy dasuki that handcuffs him 1979

So you were then one that handcuffed Buhari in 1979. Read your book, you will not. '1979 ko 1900 ni' Lodi.

Then don't marry her pls unless u r ready to make her cry all tru d years and on ur part u r ready to cheat on her. One tin guys abi babes fail to understand is dat,a guy is always a guy and very hard to change. U hardly c a guy who changes for a gal, if u can't sex her means u don't love her. So y tinking of marriage? Sex has made and broken marriages oh

.
I disagree. Seek for spiritual solution.

berepiki:
You know my story... Was employed in a big private school to work as a maths/Physics/further maths teacher after a successful interview... 70k salary... Was sacked after 3days for refusing to dance to a secular song...

Glory be to God... My story has changed... I now own by an adult school...will be paying my teachers 50k/month...all glory to God...You can apply if you stay around waterlines, Portharcourt... But you must be a born again/a qualified English teacher with a great passion for teaching

Be inspired..an employee/job seeker can be a company/business owner... Believe in God... Have faith...work in line with your faith... In Jesus Name you will succeed..stop looking for jobs... Create one...change the way you think... Think like a business owner

Thank you Jesus...for Jobs don't make me ... I make Jobs... I have the creator in me...

Cheers as you thank God with me

You were sacked because you refused to dance to secular music, now you want to employ only born agains and only gospel music will be played in your school. You aint different from those that sacked you. Double face!!! @

[quote author=magicminister post=41355208]Western union do not send to u.s. anymore.
Those that send has a limit of 150k naira per quarter.


When we see something thatnis wrong, we should condemn it.
The policy is evil.
I am supposed to enjoy my christmas in the village till 2 january but I will leave my village in order to find a way to pay my brother's school fees on tuesday.
I need to find a way to pay the 10, 000 dollars else he will get dropped from his classes and that means a bigger problem.[/quot


Effective Jan your form A will be processed. CBN only suspended it for the holiday. Take heart.

[quote author=chingydaboss post=41354117]Shut up if there is nothing to say..

U hv no sing point..its better u understand stuffs b4 vomiting trash..

D $1000 is for three months. Nd it's nt even sure cos most banks Wud tel u there is no network for moneygram or western union in dat three months..

D measures put in place r too hard for parents here to handle..

I pity most students abroad..its nt goon b easy if d govt folds it's arms..[/quit

Kindly avail us with the names of banks that complained of network issue for three months. Abi na another naija you dey?

QuiverBox:
If this ATM ban happened during GEJ, the posters would have Read " Good luck is BadLuck" "GEJ is Evil".

But now that is happening under PMB they are Blaming CBN Governor and not the president.


#ButItsNonOfMyBusiness

You are a confirm wailing wailer. Make sure you tell your kids you were one of those that supported our corrupt elites. Prosperity will judge you.

bonechamberlain:
I wonder what this govt was smoking when they implemented such draconian and harsh policy.

the first thing was to provide dollar ATM cards for them first before implementing that wicked policy.

Guys stop wailing, CBN took the right descision. You can send money via ria., money gram, western union, transfast etc. Must tou use your naira denominated card abroad?

bnovative:
It's even more pathetic that the brainwashed followers don't understand the grave danger this fraud of a budget portend.
Nigeria is doomed!!!
RIP to the future!

since u know please tell bus.

Demmocrats:
Even though am APC, i have to say the truth the war against corruption is selective. We are know that Jonathan did his looting but when compared to the previous heads of state its like change. If my Sai Buhari wants to fight corruption truly and recover billions of dollars let him start from those below;

1. Obsanjo
2. IBB
3. Abdulsalami Abubakar

Even former vice presidents and governors that are dancing under the umbrella of APC.

Blame Jonathan for not probing OBJ. Buhari has no biz probing OBJ. Gonathan had the opportunity but he messed it up.

jidestar:
Buhari was never fit to rule this country, he subscribes to a radical brand of sunni islam.

I remember his earlier comment that an attack on Boko Haram is an attack on the North.

Get out of this thread, did Buhari ask the army to destroy the house

vooyour:
so I saw this post about how sleeping with fat girls is not good. child please! I'm a fat girl with big boobs. I never had a problem with getting a man. I definitely never had a problem in the bedroom. why do people insist on making this an issue? I know I'm beautiful regardless of my weight. I mean really, why is this a problem? I know we have our preferences, but you don't have to bash us!

babe you think you are fat? come let me show you a fat babe. Anyway you pix is cute.

[quote author=chukwudi44 post=39999815]No need for long stories!! Buhari is now in power and has access to the defence headquarters,just produce the damn certificate and shame your critics!! Anything other than this is merely playing to the gallery[/quote


Chukwudi44 you are still looking for PMB's certificate, Haba you no dry give up? go and jump into the lagoon.There you will find his certificate. Shio

Mogidi:
Meanwhile Buhari is using the corrupt Danladi Umar to fight corruption.

#onlyinNigeria#

The question you should ask is why did GEN failed to heed the recommendation of the former AGF

favourlove1:
how dare you compare amaechi with fayose?
Amaechi was power drunk. He wanted vp slot n fighting gej was is sure ticket. N today na minister him get.

Wrong, GEJ and his gang tried to rob Amechi during the electionn of governor's foreign. Have you forgotten the 16 greater than 19 saga!!!

MadCow1:
Go look am again..

FirstBank gave you a "VERVE" card instantly not MASTERCARD..

MasterCard takes time to process..

@FBN your verve and master card is issued instantly. Your token works instantly.

ManTiger:
GTB engravers your name on the atm card with the aid of specially made machine while First Bank don't, First Bank uses Thermal Ink Printer, such that the name erases over time.

You must be a GTB staff kindly post pix of your GTB ATM card with your name engrave on it and i will post my gt card with no name engrave on it. When it comes to atm card GTB beat GTB hands down. GTB only know effigy.

profjustine:
Biafran coach and players making nigeria proud

fool

blueto:
Whoops!

I concess that the Nigerian team is not deviod of age cheating, buy I can affirm that virtually every team in this competition are also guilty of it.

Besides, This current set of our u-17 lads appears to be juveniles. thus, age cheating have immensely reduced to an infinitesimal level in Nigeria.

I still think that the problem goes beyond the 'age cheating' because we should be winning the U-20 world cup trophy, because the duration that seperates the two competitions(u17 & u-20) is just two years interval.
they are supposed to maintain thesame or more level of vibrancy in u-20 competitions, because you don't expect mere two years to have a negative influence on them due to their ages.

You called two year mere, hmm you known nothing about football.

chukscosmos:
The APC's doing all they can to expunge the PDP but it doesn't work that way. what goes up must come down. APC will soon fall

until then.

Love Machine:
Obanikoro was never indicted or has any case before the court then.However,Amaechi has criminal cases pending before the court but was cleared by apc senators.These are politicians that are using anti corruption as tool to get public support that have turned out to confirmed a thief as minister.

Amech does not have any criminal cases pending. Amechi was the one that took Wike to court for deformation of character. Let me set the record straight Amechi has consistently challenged Wike to charge him to court if they claimed to have any evidence which they failed to do.

darkskingoddess:
I am (somewhat) in the same boat.

My parents raised me to be very much aware of, and in tune with, my African roots. I am an African American with heritage in Ghana and Nigeria. I grew up celebrating Kwanzaa, not Christmas or Halloween. My father still jokes (I think) about flying to Africa to find me a husband. At times he's very serious, however.

I don't know; I too think that Africans have a cultural and moral advantage. We were stripped of these values when we were brought here 500 years ago, and are very broken.

I find Africans to be nicer than us Westerners. For example, they invite you into their home for dinner without second thought, give genuine hugs and greetings, etc. They value marriage... and education. Did you hear about that kid who got into all 7 Ivy Leagues?? Nigerians are prospering. I don't blame your family for wanting you to associate with such wonderful people. I'm sure they only want the best for you It's your life though, love whoever!

Best Regards sis

Best response so far and very objective too.