₦airaland Forum

Acidosis:
So what purpose would the CBN want to achieve with this? A cashless economy, right?


India did the exact thing the CBN is trying to do now a few years back so we can use that as a case in point. The only success we saw was the growth in the number digital banks and fintechs.

Nigeria already has loads of digital banks and fintechs.

If this policy succeeds in only helping them grow even more in their market shares, then so be it.

But there are other gains.

As the elections approach, politicians will be starved of cash for vote buying and other electoral malfeasance.

adioolayi:
You are very correct...

I don't understand much economies, but, using logic and commonsense...I will suggest CBN should intentionally back the new Naira note with very strict and stringent conditions towards enforcing cashless Economy....maybe this will prevent the foreign currency hoarders from re-buying the new Naira notes and hoard naira again.

CBN said there’s about 3trillion Naira currently in circulation.

What I suggest they do is to now regulate the volume of the naira they put out after recalling the old Naira notes.

Let’s assume they are able to recall about 2.5trillion Naira, being the amount in 1000, 500 and 200 denominations, then they should release just about 1trillion Naira back into the economy as replacement.

That way, banks will not even have enough to service their branches before they talk of releasing billions to one politician alone.

Acidosis:
They are not f00ls. The Naira redesign is still useless to the FX market.

Forex exchange is not Ponzi scheme. A productive economy is the only way to achieve a sustainable Fx rate. There is NO other way.

So if nothing has happened to our productive capacity and earning power, any gain you see now at the street market is only a reaction to market uncertainties.

Moreover, we are approaching the Christmas era where Nigeria traditionally earn the highest remittances from Nigerians abroad.

Finally, the Naira has not gained at the official window yet so even that remittance thing is debatable. Any gain or loss you see now at the street market is part of the reaction to the uncertainty that surrounds the CBN announcement. It is not sustainable.

Your point is clear and understood.

Until Nigeria increases its production capacity which will increase its export volume and consequently increase the FX it earns, the problem of dollar exchanging at exorbitant rates against the naira will not be solved.

But there’s a factor you are overlooking which is what CBN is trying to tackle. That factor is maliciousness of some people and FX marketers who either hoard the dollar or engage in the sabotage that further increases the stress on the naira.

Or are you going to rule that out?

SWATMan:
Who stopped Akande from becoming the speaker of the house of representatives and instead instructing ACN members to vote for Tambuwal?

And turned around to champion that Jonathan government was marginalizing the Yorubas by not giving them any meaningful position in his government.

Where are the idiots who were arguing with me that the Naira redesign is useless?

owobokiri:
Soludo is friendly with Atiku. That's a fact. They worked together under Obasanjo. But being a governor of a state and being able to use that office to sway your people into voting for a particular candidate based on your instructions are two different things. . While I'm a great fan of technocrats in power, it's obvious that Soludo lacks the political sagacity to railroad Anambrarians into voting for a man whose political modus operandi goes like this...

Soludo will lose re-election the day he will tell Ndi Anambra to support Atiku.

Let him dare it.

FirstSon01:
Ayo Oritsejafor used his private jet to carry billions in cash for a Nigerian politician. A governor.

Obi used his car to steal millions of naira in cash.

Birds of a feather

All I see is pain.

Nothing you said here can be compared to your Tinubu being a drug baron that forfeited money to a foreign country.

Your Tinubu is a criminal

Goodday90:
Here is tinubu talking about how he made Jonathan lose

And you think Jonathan will ever support him?


http://www.vanguardngr.com/2015/05/how-we-defeated-jonathan-tinubu/

Thank you for this link.

Garfield1
Kyase
Senatordave

yomi531:
Till date, Bala Muhammad Still has Jonathan's portrait in his living room. Factos. The guy like Gej dieee

You can imagine.

And you know GEJ also treated him well. Made him minister of FCT where he made a lot of money and no one ever questioned him.

He should like Jonathan and remain loyal to him.

FSBoperator:
Bola Mohammed owes GEJ for where he is but GEJ owes Bala more for being instrumental in convincing northern senators to follow the constitution and swear GEJ as acting President.

Bala got a juicy appointment for his role in the Senate confirming GEJ. From minister he built his political structure to take Bauchii as Governor - a position he still holds.

I believe GEJ would have been rooting for Bala at the primaries but you must remember that Bala did step down for Atiku so the insinuation that Bala is opposing Atiku on the behest of GEJ is rubbish.

I believe there are several issues why Baoa is now against Atiku to which we are not privy to.

What I do know is that Atiku is being forced to commit himself to their demands and from there they will work for his campaign .What these demands are, I don't know

The G5 is negotiating with Atiku and by the G5, I mean Bala, Makinde and Wike. The others are follow follow idiots (Ikoeazu and Ortom) .

No sir, you are wrong.

Bala Mohammed contested the PDP presidential primaries till the end and scored 20 votes which is the major reason Atiku is angry. I’m sure Atiku feels if Bala had not contested till the end, those 20 votes would have been his; hence the recent acrimony between them.

Again, Bala is not part of the G5, at least for now. And don’t underrate any governor.

Lastly, the G5 will NEVER work for Atiku. If Ayu steps down for the G5 to produce the party chairman, then it is over for Atiku. They will use the party structure and mess him up. So you think they will work for Atiku’s victory after all this stress they’ve put Atiku through and after Ortom has proclaimed “To hell with Atiku”? You don’t know they will be crushed if Atiku wins?

Munamu:
.....and that hypocrite Tunde Bakare, all because of politics, they failed to accept the fact that subsidy must be removed. Even when they know that it is the way out of this quagmire. Infact I often wonder how his congregation still listen to on. Anyway sha! Guru Maharaji too has congregation

I don’t think I will ever forgive those who protested against that subsidy removal in 2012. Because that wasn’t politics, it was wickedness.

Today, we are borrowing to pay subsidy, a venture that is gulping trillions of naira within months. But this is something we would have avoided if GEJ had removed that subsidy in 2012.

garfield1:
For me,I prefer Muslim muslim afterall it is still south.half bread is better than none.going late is better than not going at all.if atiku was from the north central or a Christian,he would be manageable...


Cc mynd44
Lalasticlala
Fergie001
Dadahammed

Why restrict us to only options A and B when there’s option C?

gassbee:
Atiku told Obi that even if he wins the primaries he would stil choose Obi as his running mate but Obi sneaked out of Pdp without informing Atiku

Lies!

Atiku already acceded to the request of PDP governors that if he wins the ticket he should choose one of them as running mate.

Obi heard it and knew there was nothing for him in PDP anymore so he left.

Where did you get this your own narrative now?

ogmask:
Ikpeazu has no say in Abia politics. He is a stooge planted by his benefactor, Orji. Ikonne is a replacement Orji brought to take over from ikpeazu. Whatever you see ikonne do is ordered by Orji, which means ikpeazu is on his own with wike.

This is pathetic.

If truly Ikonne is Orji’s candidate, that’s the more reason he should be rejected like he’s a leper.

Abia needs to liberated.

Ireportlive:
Why are Zombidiots so stupid for goodness sake

They ask him to wade in as an elder, then you accuse him that he is responsible for the fight

I posted a link.

If you had followed the link and read the report, you would have saved yourself some embarrassment.

And besides it is on front page, go and read it and come back, okay?

stillcreative:
I totally agree that most Obi supporters are significantly learned and understand the consequences of voting for a wrong candidate but the direct question I'll ask you is; do you portray yourself schooled enough to wish that Peter Obi scores less than 1% votes?
Just for the records, Nigerians are about the most learned citizens on the surface of the earth so don't kid yourself that they are 1%. For objectivity, wait till noon on elections day to understand that Nigerians are wiser than you think.

Allow him wallow in his foolery

Thinkam:
. Only "significantly learned and woke" people support PO, what population of Nigerians are significantly learned and woke? Less than 1% in my opinion. If Obi scores more than 1% votes na miracle


Obi will drop out of the race latest December


Atiku is coming

So you admit that only illiterates and brainless people support Atiku Abi?

Lol

While they are at it, the Drug Case has gotten to northern Sheiks who would now use it as sermon in mosques from now till February

And you say G5 will support Tinubu? A drug dealer?

Street credibility!

I challenge Tinubu and Atiku to walk in the crowd of common people like this if angry people will not wipe them chord at the back

Besides, Obi was not the only person that commiserated with the victims of this fire… Atiku also sent his own cosmetic commiseration. But when is he visiting them too? Scammer

But you needed US and UK to raise an alarm before you could do it?

I’m sure that if US and UK hadn’t talked, you people would have submitted Aso Rock keys to terrorists.

This is the disaster that Tinubu helped foist on Nigeria and now he wants to replace the same disaster.

Ndi ala!

muykem:
Who sponsored character assassination series aired on AIT against Tinubu? AIT later rendered unreserved apologies to Tinubu. Those are political actions. Yes, Some of them are in extreme but none of the party are innocent.

Whatever character assassination you are talking about was done just few months or even weeks to the elections.

Before then, Tinubu and his men had called Jonathan a lot of unprintable names and sponsored all kind of campaign of calumny against him.

The AIT documentary did not even cover one tenth of what APC had done to Jonathan.

Should we talk about Lai Mohammed and his constant laceration of Jonathan in the media? And we all know Lai Mohammed is Tinubu man.

What did Tinubu not do to Jonathan?

ALTERNATEID:
OP don go smoke mpuru mmiri again. Seyi Makinde already told you guys clearly where he’s going. Fayose who is a major ally of Wike already told you they are supporting Tinubu. Wike himself came to Lagos and donated millions to APC women. Can’t you guys add one plus one together and get the result?

You don’t need to keep putting conjectures and wild imaginations together to get who G-5 governors are supporting. Those governors don’t answer to anybody not to talk of Jonathan. Btw, Jonathan and Atiku are best of friends. Jonathan supported him fully in 2019 so stop insinuating nonsense. If GEJ is working against Atiku, Reno Omokri would have left his camp long before you start imagining things.

Lol!

What if what Makinde did was Red Herring? Do you even know what that means?

About Wike endorsing Sanwolu, it was clearly to spite Jandor who has aligned himself with the Atiku group instead of Wike. Sanwolu’s endorsement does not in anyway mean that Wike would also endorse Tinubu.

Lastly, Fayose has never said he’s supporting Tinubu openly. What he once Twitted was that it is the turn of the south. I’m not saying he won’t work for Tinubu if he decides to but he hasn’t said that. Or provide me with link to such statement.

descarado:
It was atiku who made Jonathan lose that election, not tinubu. Wike even said it that it was atiku. The moment he went out with those governors. Jonathan begged atiku several times not to leave. The Jonathan we know look soft but he never forgives. The moment obi's running mate was announced, I know he has powerful backers across the country. These governors have a higher deal with the powers that control Nigeria that's why they are not shaking. Atiku already know he has lost South. Tinubu would have been a good choice but his hatred for ss and se is his undoing not Muslim Muslim. Now the North has disgraced him, he send his boys to Enugu to do what?
And his boys here, instead of making amendments, they are busy making it worse for him.
To late. Obi is maximising all the loopholes.

You are right in a way.

But Tinubu also played a huge role in Buhari’s victory and Jonathan’s loss.

It was Tinubu who influenced Southwest votes for Buhari without which Buhari wouldn’t have gotten the majority votes or even the constitutionally required spread.

It wasn’t clear from the start but now it’s becoming clearer that Obi is Nigeria’s next president.

DeLaRue:
So you have proof that Tinubu did all of this?

Do you have proof he didn’t?

Banning Twitter or any Social Media platform would actually serve a death nail Tinubu’s fledgling ambition.

The youths would be further infuriated and the protest votes would be in leaps and bounds.

Please, APC, ban Twitter make we check something.

muykem:
Though I don't believe this but Tinubu has never done anything wrong to Jonathan infact he helped him to win 2011 election. Both of them have never belong to the same party or do you want him to have abandoned his party candidate for Jonathan 2015.

Tinubu has never done anything wrong to Jonathan?

Really?

Who organized the Ojota protest when GEJ removed subsidy in 2012?

Who sponsored those that carried mock coffin in mock burial funeral of Jonathan?

Who sponsored the media onslaught against Jonathan and hired propagandists who overran the internet and bought up traditional media platforms to project Jonathan like shit until he was smelling to Nigerians?

Who?

slivertongue:
The G5 are an instrument in the hands of Obj. Gej will distance himself from them

The New Telegraph report said the PDP guys have intelligence that Jonathan is their backbone.

Don’t underrate their intelligence.

Or maybe GEJ and OBJ are working hand in hand.

I don’t understand…

Is the PDP candidate now working at cross purpose with Ikpeazu or what?

And look how uninspiring he looks…

Please Alex Otti should win Abia guber please.

With that said, Tinubu might even come second in Abia. That’s how bad things are for Atiku in the entire Southeast.

https://www.newtelegraphng.com/widening-crack-pdp-appeals-to-jonathan-to-wade-in-as-g-5-govs-shun-maiduguri-rally/

I just finished reading the above New Telegraph report of how PDP stakeholders want to constitute a delegation to Jonathan to plead with him to forgive Atiku because they know GEJ is the one behind the G5 governors. Trust me I’ve been having butterflies in my belly.

If the report is true, and Jonathan is the backbone of the G5, it means the possibility of the G5 working for Tinubu is ruled out or almost zero. Or how would you tell me that Jonathan wants to punish Atiku for his treachery against him and he (GEJ) would now let Tinubu, another major participant in the treachery, be the beneficiary?

Atiku, Tinubu, Saraki, Amaechi and co, led the line of those who teamed up with Buhari group to booth Jonathan out of power in 2015. And now it’s 2023, you want to tell me GEJ will work for Tinubu?

Lastly, the report reinforced what I already knew, of Bala Mohammed being Jonathan’s son which I don’t know how it happened. And if Bala Mohammed is Jonathan’s closest northern ally, it means it will be easy to recruit Mohammed into the G5 to make them G6 who would end up declaring for Peter Obi.

Remember that Obasanjo is also influencing things from the background.

It’s all adding up now…

These ones na youths wey mumu

Lies

If Jonathan agrees to intervene in any PDP matter then he’s truly clueless and stupid.

Atiku was part of those who made sure Jonathan lost power in 2015 because they felt it was the turn of the north.

It’s the turn of the south now, he should go to hell.

sonature1:
@the emboldened. That was many months ago and not anymore.

Ordinary Nigerians who sell money to BDCs supply to them.

https://www.premiumtimesng.com/news/headlines/475998-breaking-cbn-bans-sales-of-forex-to-bdcs.html

Ordinary Nigerians sell dollars to them too. But bulk of their dollar supply is from the CBN.