₦airaland Forum

100millionGoal:
News from your fellow Yoruba on Nairaland with no single source.

You'll be beaten with at your own game.


https://deltaprideng.com/2024/06/20/proposed-anioma-state-nnu-backs-senator-nwoko/

100millionGoal:
Anioma state will be a reality and you'll cry blood when that happens

Thewrath:
Which region is delta state geographically?

Thewrath:
How does it affect you where igbos decide to be in ss/se? Or are anioma people now yorubas?

Direct all your energy to lagosians who have told you iragbiji indigenes that they won’t be part of your SW!!!

Thewrath:
When igbos where politically carved in to delta and rivers states,it was not attaché by force but to reverse it is attaché by force? What are you yorubas scared of ? How does it affect you where igbos decide to be in ss/se? Or are anioma people now yorubas?

Direct all your energy to lagosians who have told you iragbiji indigenes that they won’t be part of your SW!!!

100millionGoal:
Who are the brothers and sisters of Ndokwas in South South?

Emergency lover of South South 😂

Thewrath:
You mean same way you are forcing lagosians to be part of SW?

legitnow:
THIS IS ANOTHER BLESSED DAY THAT THE GOOD GOD MADE.


YOU ARE HERE AGAIN, NDOKWA AND ALL THE OTHER RUBBISH THAT WILL ADD NO VALUE TO YOUR WORTHLESSS LIFE.


WHY DONT U CHANGE THEIR NAME TO ODUDUDWA? Y IS IT STILL NDOKWA?


RECIEVE SENSE!

legitnow:
SAME WAY, IGBO HAVE LFET NONE-IGBO SPEAKERS IS HOW NON-IGBO SPEAKERS SHOULD LEAVE THE IGBOS.


WE ARE NOT AFRAID TO FIGHT ANYBODY.



ESPECIALLY WHEN IT IS FOR A JUST CAUSE.


ONE THING U CAN BANK ON IS IGBO WILL LEAVE NO IGBO BEHIND.


U CAN TAKE THAT TO THE BANK.

SoNature:
If Diezani had actually stolen billions like these people alleged, she couldn't have done that alone. You cannot steal such money alone and go scot-free. The docu-series should also mention the beneficiaries of the loots.

Perhaps when people realise that it's a crime that transcended tribes and religions, the media trial will die a natural death. Nigerians, with no exceptions, always protect their political thieves.

mrvitalis:
If bandit can hide their guns u too can hide it

mrvitalis:
Anyone can get gun in nigeria if u really really want to

mrvitalis:
There are things I can't comprehend at all

Bandit would attack a village at night and run away... That's normal I get it can happen

But bandit take over a village and all the people run away?And the bandit settle there? I rather die than see my village taken over by another man ... It's impossible

Bandit massage a village they would attack them and attack them?. Don't they have men?. Don't they have neighbors?

Some things i just can't get sha

NeckingNgulping:
You mean you don't know why you should be ashamed of yourself?

NeckingNgulping:
Shame no dey catch you?

Professional services firm, PwC, has stated that the interventions by the Central Bank of Nigeria will stabilise the naira in the long run.

That was indicated in its latest Nigeria economic outlook, titled ‘Navigating economic reforms’.

PwC said, “Interventions by CBN may cause the Naira to stabilise in the long-term. However, these interventions may become subdued in the absence of improved capital flows and export proceeds to the foreign reserves.

“Capital importation increased by six per cent to $1.1bn in Q4 2023 from $1.0bn in Q2 2023. The increase was driven by the growth in Foreign Portfolio Investments (189 per cent increase from $106.9m to $309.8m) and Foreign Direct Investments (113.9 per cent increase from $86m to $183.9m) between Q2 and Q4 2023.”

It added that the increase in FPIs was driven by an increase in flows to money market instruments while FDIs were driven by flows to equity investments.

“Capital importation may continue to improve in 2024 due to the policy actions by the CBN aimed at rebuilding investor confidence. Some of the actions implemented by the CBN include settling FX backlogs, increasing MPR to 26.25 per cent to maintain price stability, etc,” the report added.

In May, the Monetary Policy Committee of the CBN raised the benchmark lending rate to 26.25 per cent, citing the need to rein in inflation.

However, a number of the members of the committee also expressed concerns about the illiquidity in the foreign exchange market, which had fuelled volatility in the market.


Inflation, forex shortage worry MPC members
In their statements, the MPC members said there was a need to sustain a tight monetary policy stance to make domestic yields more attractive for domestic and foreign investors.

A member of the committee, Emem Usoro, who voted to raise the MPR by 150 basis points to 26.25 per cent, averred that further tightening of the financial conditions would reduce the negative interest gap and attract more capital inflows to stabilise the naira exchange rate.

She explained, “Sustaining a tight monetary policy stance potentially makes domestic yields more attractive for domestic and foreign investors, supports the naira and accretion to the external reserves. It also helps tame imported inflation, which is crucial given the import-dependent nature of the Nigerian economy.

“Looking forward, the domestic outlook remains cautiously optimistic, as the economy is projected to expand in the near term. This outlook is hinged on fiscal reforms, infrastructural development initiatives, efforts toward continuous deepening of the financial markets through FCY-denominated debt instruments, positive expectations around crude oil prices, increased domestic oil production, and commencement of operations at the Port Harcourt refinery.

“Additionally, a tight monetary policy stance is expected to support this outlook by attracting more capital inflows to improve accretion to reserves. Inflation is, however, expected to remain elevated, but commence moderation in the second half of the year, due to the tight monetary policy, and base effects.”

Meanwhile, the Chartered Institute of Directors has expressed concern over the increasing departure of multinational companies from Nigeria, attributing it to forex issues, inadequate power supply, and inconsistent government policies.

In its ‘Position Paper on the Exodus of Multinationals from Nigeria’ signed by its Director General/Chief Executive Officer, Bamidele Alimi, CIoD suggested ways the government could reverse the trend.

On forex, CIoD said, “Improving foreign exchange policies is another key intervention. The CBN should adopt more flexible foreign exchange policies to ensure businesses can access foreign currency more easily. This could involve creating a more transparent and market-driven exchange rate system.”

arantess:
say again, tinface?

arantess:
those from obigbo what ethnic group are they?

Ikembeku:
E pain am ooo