Frankiss44:


So why the initial denial by the Minister of finance?

She simply denied that money was printed for FAAC distribution.

davodyguy:
This is very good

Been a while......How is life?

What some of you don't understand is that some of the economic policies and theories that's applicable in More Developed Countries like US, UK and other European countries is not applicable to Less Developed Countries( most countries in Africa, southern America and Asia) because of the following reasons: one of it is

1. In a country like US, when there's an increased in govt expenditures, it has a positive effect on their economy like increased in employment because the level of production of goods and services is more than the level of its demand, so one way to balance this is to increase govt expenditures, now by increasing govt spending on eg salaries, transfer of payment etc the industries with its capital resources will try all possible means to meet the required demand , thereby increasing employment
In Less Developed Countries LDC increased in govt expenditures has a negative effect as the revenues from these LDCs is not large enough enough to meet the government expenditures due to inefficient tax system, low savings, low investment etc and because of these the LDCs borrow to fund the government expenditures (budget), now the the level of output/supply is not enough to meet the demands due to non availability of capital resources, this leads to inflation, unemployment etc. Because govt in LDCs do not investment much in industrialisation.

Investment in both Agricultural and industrial sectors are important for Economic development/growth but it's not found in LDCs countries as it's main source of income lies on primary production. MDCs invest more on capital resources than LDCs. Therefore increasing salaries, transfer of payment etc is good for a MDCs because they have all it ( available supply) takes to meet up with the demand, but it's different for LDCs, so any increase in govt spending will cause increase in price of goods and services because LDCs does not have the available supply to match/equal the demand of the people

Exclusive101:
I am yet to see all the Igbo clowns on NL criticize this collosus in failure labelled cbn governor. If Kemi failed 2% as pathetically as this jew from hell I wonder if his Jewish tribesmen would not have beheaded her in broad daylight.

Till date the jews from Alaigbo claim Kemi is a failure but they are yet to tell us what this disaster is. The first bastard CBN governor from 1999 to be printing billions that was never earned n the bastard Kanu is not saying anything.

My msg is more to all the Yorubas supporting PDP. Especially, those claiming Tinubu should let go of his ambition for Igbos to take over. Can you all see no igbo is insulting Emefiele till date ? From 1999 till date which CBN governor ever failed as abysmally as this totality in failure ?

Fashola that picked up a camera at lekki scene is till today called a failure n dragged across all online platform but here is a true definition of FAILURE glaring to the dead n blind.

Have you seen him being dragged ? Some foolish Yorubas when Igbos start dragging your politician continue joining them. The day will come they will help drag your father pant as well.

Make we de drag foolishness with those breeding failures but insulting your own politician that are even trying.

take your tribalism epistle to the Aboki that needs it...

No one give a fuuuuuk again

No tribal jingoist needed here...Your tribal sentiments is only generating revenue to Nairaland and not helping your life.

MansoryMX:
I bought a carton of sardine, peak milk and some cartons of indomie because they what my kids takes to school everyday on their lunch packs. I know how much I spent getting those items today and I can tell you that with the current price of foodstuffs in the market, everyone should brace up with this foolish and unthinkable action from the government. Hyperinflation loading!


No sane government will print money in times like this! This country isn’t productive enough, this country doesn’t export much so what exactly are they printing money for? Na wa o!

This is the simple truth.

People like seunmsg and his co travellers will never understand.

Those countries have an economy that is productive enough to absorb the shocks of QE.

Nigeria simply doesn't.

Do they understand how countries like Venezuela and Zimbabwe got into the hyperinflation mess?

So much ignorance in Nigeria

why disburse helicopter money when we have bullion van money

This just confirmed that the CBN could have credited the account of every Nigerian during the pandemic if they wanted to do so, but they are so wicked that they rather buy rice and keep it for their birthdays. Foolish entities.

plaindealer:
Unexposed wailers nd ignorant anti Nigerian Igbos are all illiterates..



.

Tinubu is coming to print more to distribute to his miscreants..



















..in iragbiji republic.

lonecatt:
Lol it is not just to print money ,are there products and services that can make the money function? Or you just print to be shared to looters and payments for political sycophants

Our darling daddy went to London to sleep ,believing the CBN will just print monies to solve the economic damages his smelling body odour have caused.

So why did they deny printing in the first place

Here lies the problem, the local capacity isn't there.

What you're asking buhari to do is the job of the private sector.

Also they need to fine tune their policies to ensure finance meets local capacity, but then, there's not much a government can do if the citizens are not innovative and solutions driven.

Exclusive101:
The tribe he called clown are indeed clowns
because you call others worse names.

Oga, na poor people like u dey do that.

I no follow bro. Poor people are problem to the world. Only poor people fight them selves on nairaland. Go to Abuja and see all the tribes wine and dine as big guns.

Make una dey here dey fight petty fights.

Emefelu is an ipob, he is indirectly doing his job well, he is spreading the gospel by distroying the economy of the zoo patapata, the zoogeria most fall.

Are u sure any member of your father's household is richer than I am. I am not your average NL lowlife. Na highlife me I de.

Princedapace:


Oga, na poor people like u dey do that.

I no follow bro. Poor people are problem to the world. Only poor people fight them selves on nairaland. Go to Abuja and see all the tribes wine and dine as big guns.

Make una dey here dey fight petty fights.

Britain4:

Most you insult to make your point

Immediately I start going through a comment on any thread on economy and it's full of insults, APC and PDP, with no suggestions on way forward. I just move to the next comment...

Isn't that what all your foolish tribesmen on NL dedicate their pathetic life to. Why is your father worried sick others are entering the dirt with you.

Only foolish igbo should own the monopoly to bebabtruabl jingiost or what is Kanu's life long job again no be tribal jingiost ? How many times did your dead brain Igbo father wrote to caution him ?

Hushbingo:
take your tribalism epistle to the Aboki that needs it...

No one give a fuuuuuk again

No tribal jingoist needed here...Your tribal sentiments is only generating revenue to Nairaland and not helping your life.

The msg your should take to your unwise dead brain father in hell. [quote author=Eskimojar post=100887312][/quote]

It's depressing to see how uninformed some Nigerians can be in their bid to justify the indefensible.

Nigeria cannot afford to print money like developed economies because Nigeria's currency does not command the same respect/value as the dollar, euro, yen, sterling, etc. No one outside Nigeria, unless out of necessity, wishes to be paid in naira and arguably many Nigerians would prefer to hold forex like dollars or euro. We have seen our currency fall in value from $1 to 1 naira to $1 to 460 naira. In such an environment, printing more naira will cause the naira to depreciate further increasing inflation (look at the stories about the rising cost of goods).

It's in recognition of the damage to confidence that money printing can cause that prompted the finance minister to deny the claims.

If money printing was the panacea to our problems, we would easily solve poverty. The alarming thing is that money printing was normal during military rule (which is when the naira lost most of its value) but it doesn't seem to have dawned on many Nigerians that it was an abject failure and one of the reasons Nigeria is impoverished today.

That is coming from clown over 99% of his tribesmen dedicate their pathetic miserable life believing a lunatic like Kanu ikpeaze n Co. Your life is ruined already no point wasting time on your wretched soul.

Timon4real:
I'm shocked at your reasoning.
Please grow up

even though obaseki was cloutchasing, yet, I still believed him more than the minister; so, emefiele substantiated his claim codedly.
in all these, the poor man suffers the effect: inflation!

please, can someone help with economic policy direction of this country as it affects the common man on the streets?













I rise

In other words your tribemens with high IQ that ignore the disaster ravaging Alaigbo to focus on Lagos are doomed because I see thousands of thread exposing criminals like Ikpeaze umahi Ugwuayi Peter Obi Kalu Orji n Theodore Ekweremadu Abaribe etc daily but your dead brain tribesmen ignore all of those to go insult Tinubu n you were never anywhere to point what fools they with no IQ.

ottohan:

U are a half wit...
All what you just typed is an utter rubbish.
We are talking about money printing and its effects...but you with your verry low IQ is looking for a way to bring tribal sentiment into it...how low can your reasoning be?

GeneralPula:
If you watch money heist, you’ll see as dem dey print money for Bank of Spain..

Sure, all countries print money..

My own question be say... Why do government borrow money when theirs money printing machine?

Now this is the real question, people are defending the printing of money without asking what the other countries used their printed funds for, Nigeria just printed and shared to looters, while according to the op, govt was buying back some Government debts to help circulate more money...............

BadRadio:
these b.astard should continue printing so they can use our BVN's to do the needful... they should load 1 billion naira in every existing account in Nigeria so we can all sit at home and sleep... and when we become hungry we withdraw some cash, boil it or cook it, serve it in a plate and eat it


we don try reach for this country !!!

lol,
you don't understand economics brother

seunmsg:


Others printed money to stabilize their economy and we also did the same. What’s your point again?

It would have made common sense if we had printed money for infrastructural development not some re current expenditure, these spoon feeding system of govt is no longer sustainable and pulling the nation backward. the weight of the country is so much we need to start decentralizing
Just few hours ago i was telling some friends, FG should let every state generate its own power, ordinary stable power supply will go a long way in revitalizing our economy.

Las! Las! our political thieves and hijackers will hijack the Helicopter and misappropriate all .

This is Nigeria! the elite class must sha benefit..

obaseki is just trying to play the role of a proper opposition cause no big deal in cbn to print money to augment the budget or economy it is a norm cause it also happen during obasanjo regime .

Yes, other countries including the US print money (AKA Monetization) to help spur the economy during a sever economic downturn, however, you have to keep an eye on inflation. This money is pumped into the economy by buying bonds from financial institutions. The idea behind putting money into the economy is to drive down interest rates and hope that people and businesses borrow and spend more, and in the process revive the economy. Monetization only works if there is a respected and responsible central bank ready to turn off the taps when inflation threatens to exceed its targets and a responsible government. But the ZOO is a different thing...it has no breaks at all once it starts on that path. Besides, all the crooked politicians would steal the money that was meant to stimulate the economy. If the government believes the central bank has a limitless appetite for its debt, it could spend beyond the point at which the central bank can still control inflation. Such “fiscal dominance” is real.

DATMAT:
The directionless FG And CBN has been a major concern it not bad to come with helicopter money printing, but if you still concentrate this monies to those that make life miserable for common SME business, then you only pouring fresh water to a basket

You this one will be one of those dullards in class back in the day..

After FACT-CHECKING,you still went on to display YOUR being OPAQUE...

It's no new most countries print money (helicopter money), usually during QE inorder to boost spending and cause some level of retail spending and all.. but they do not print money in secret, they announce it , it's approved by the Senate and president of the reserves , what the funds should be used for is well deliberated and it's public knowledge Not something you hide and do and come out to say trash. How sure are u that out if the 60billion printed some politicians and CBN govt did not just pocket 5billion inside

This Is WHY YOU AS AN INDIVIDUAL MUST CONVERT YOUR MONEY TO crypto currency now!

Government In Every Nation Is The Same In Idealogies And Aims Which Is To Keep Making Poor The More The General Public or Subjects.

Puting Your MONEY IN BANKS Is One Of The Most Foolish Thing To Do.

Quit Central System Now And Embrace Decentralized System So As To Stop Allowing Any Government To Keep 100% Scamming You.

Stop Trading FOREX! Yes, I REPEAT, stop trading forex!!!!

If You Stop, This Cult Of Private Family Group you commons do call Government will have No more power to steal or rob you and I.

They have Ijacked the God Given Natural Resources From Everyone not in the cacus via there Central government systems, Now Crypto currency they hate is the only way to Hijack it back from them legally.

Stop saving your money in the Banks. Convert Your Naira to USDT or TUSD or USDC and any other Stable Crypto currency not Bitcoin nor Etherum nor XRP nor VET etc. but rather, stable CrytoCoin.

Open an account with Binance.

You can additionally learn to Buy Sell Crypto Daily for Profit making. You can even automate the process.

Government Controlled banks are established purposely to keep the Ruled or Commons POOR!!!!!!!!

THAT IS THE BLATANT TRUTH YOU WILL NEVER BE TOLD!!!

BE WISE. ACT LIKE A CONTINUALLY EDUCATED PERSON.

FREE YOURSELF FROM BONGAGE.

boogietrends:
There is nothing wrong in printing money especially when the country has a huge population to push the inflation over to. China did it, in fact China printed trillions to help build their economy and today they are better for it. If we have good economic managers in Nigeria, they should print trillions of naira to support infrastructure and not for recurrent expenditure.

U are joking rite? IN an economy largely dependant on import? Even the Phone u dey use take type dis ur print-print, was imported, from a country where Naira is not regarded. The ability to convert the Naira in circulation to Dollars, is the respect the Naira has. N60billion printed will end up in the hand of someone needing to buy BTA, or an importer needing FX or expatriate needing to convert it, so he can send it to home country. If the government does not have Dollars to match the N60billion (they dont have). Then u have so much naira chasing few dollars. Naira on free fall. Naira losing credibility.. If i hussle dollar take import phone from China den, don blame me for selling Nokia 3310 for N300,000.

No point comparing Nigeria to other countries. The main problem is, we depend on IMPORT too much. We import PMS, TOOTHPICK, EXPATRIATES, EVERYTHING. Nobody spends Naira outside Nigeria. The respect the Naira has is when the government has sufficient dollar to cover their naira. But government is dollar-trapped, They are not making enough FX. That is why the secret printing of Naira notes. Na like colored paper. Very soon, even market woman will not accept it from u again