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Nairaland Forum / Nairaland / General / Politics / Foreign Investors Won’t Be Interested In eNaira – Reno Omokri (21928 Views)
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Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by aragon4realz(m): 3:01pm On Nov 01, 2021 |
Datedoboy:your I.Q consumed no liquor but it's high |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by BeardedMeat(m): 3:04pm On Nov 01, 2021 |
AntiWailer:Mr Techno! |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Timoleon(m): 3:04pm On Nov 01, 2021 |
Slighter higher value to other people who care less or to us who use it? Let me break it down for you. Let’s say for instance we are able to peg e-naira to 1dollar. The value of e-naira will of course still be reflective of the current exchange rate which is abou 575 naira. In order words, the value of whatever you are buying with the new currency would still be equal that of the older currency when you do the math. I give you an example. An iPhone 12 costs $1000, 1000 e-naira and 1.140m the only difference here will be currency name. It would then be delusional to think that because you are able to convert your Naira notes to e-naira you have higher value. The value of any currency is in its purchasing power. How does the change of currency denomination give you a higher spending power is where you want to focus your energy on. A country like China with Its ambitions of world domination is never seeking to equate their currency with the dollar yet they are able to focus policy towards creating more wealth for their people. The Chinese have even been accused severally of devaluing it’s currency to give itself unfair advantage in international trade. Our problem isn’t the value of the naira bro. We don’t have anything to sell. The GeneralDae: |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Datedoboy: 3:07pm On Nov 01, 2021 |
Timoleon: We are not equating the Naira with the dollar. Read my post. It is d e-Naira that will be pegged to a dollar and the CBN including the banks know how to do the reconciliation back end. Note that e-naira is not physical cash so it won't be in your hands. You will only have it in ur account. CBN will collect dollar from u and give u d e-Naira which is d same equivalent as usd. Bro it will work and heaven won't fall. Once we try it for 6 months, Naira will appreciate little by little instead of sinking like a wrecked ship |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Hipi(m): 3:11pm On Nov 01, 2021 |
KaluwisxPRO:It is not a cryptocurrency. |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Datedoboy: 3:13pm On Nov 01, 2021 |
Timoleon: That is why I used Ghana's example. Do they have more to sell than us? Yet the new Ghana cedis is stronger than the Naira Purchasing power of the current 1cedi is greater than 1ngn if we are waiting for us to export at the level of China or other developed countries, we are in for a long ride. My aim is not to argue with you bro. Let's just help the Naira appreciate in value. There are so many ways to kill a bird |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by RiceProducers: 3:15pm On Nov 01, 2021 |
XXXXTENTACION:What is the difference between Naira in your pocket and the one you send through someone to give your brother? |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by pacespot(m): 3:18pm On Nov 01, 2021 |
From my understanding of the financial market and Forex, I think e-Naira is a good initiative, it is to facilitate payment and business transaction in Naira which makes Naira a funding currency for more businesses, the status currently enjoying by dollar which is making the green back strong. But the whole initiative is not an end to itself, how they implement e-Naira and integrate it with more payment platforms will be key in realizing its objectives going forward. Government needs to create more platforms for e-Naira and makes it acceptable through most of the payment gateways to make it truly a success. They can start by cultivating this dynamic through the burgeoning Nigerian Fintech industry. Without this systematic integration for its usage, the e-Naira might end up being as useless as the Fiat version of itself. So data and usage is key to the success of e-Naira, the more people (especially non-nigerians) are using it, the better |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Pojaay(m): 3:21pm On Nov 01, 2021 |
chatinent:Pls give me your phone number I’m interested |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Hipi(m): 3:22pm On Nov 01, 2021 |
. |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by chatinent: 3:22pm On Nov 01, 2021 |
Pojaay: Email: chatinent@gmail.com |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Jeffrizzy01: 3:26pm On Nov 01, 2021 |
thebosstrevor1: What blockchain is the e-naira built on? |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by plaindealer: 3:53pm On Nov 01, 2021 |
Olodo, eNaira wasn't created for foreign investors so where is the sense in your rubbish? Dumb fool.. |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by prophetfire: 4:00pm On Nov 01, 2021 |
Pierocash:. Enaira IS A CONFUSION CURRENCY. 1 Like |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Timoleon(m): 4:18pm On Nov 01, 2021 |
You keep dragging me back sha and it’s tiring. I will ask you again is Ghana your competition? Datedoboy: |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by ZooOga: 4:18pm On Nov 01, 2021 |
Speaking of failure poor Tope must be thinking the same thing about her failed marriage and raising their kids alone in America.
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Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Nobody: 4:20pm On Nov 01, 2021 |
SmartPolician: You got things mixed up. Blockchain simply put is a technology of recording information. That an app is built on blockchain doesn't make it a cryptocurrency. Blockchain was being used before cryptocurrency and has lots of applications. The e-Naira is built on the blockchain technology. This means it has a system of recording information in a way that makes it difficult or impossible to change. Development on the blockchain can be centralized or decentralized. In the case of e-Naira, it is centralized. |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by SmartPolician: 4:23pm On Nov 01, 2021 |
Studymore123: What's the name of the blockchain? |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by ERAKAMUS: 4:38pm On Nov 01, 2021 |
thebosstrevor1:Young Man e-Naira is not on any blockchain stop confusing yourself |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Mrblaq1990: 4:39pm On Nov 01, 2021 |
Pierocash: Do you also know that the eNaira is run on blockchain? |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by baganas: 4:40pm On Nov 01, 2021 |
thebosstrevor1: Enaira is similar to crypto, the only difference is that it's issued by the cbn whereas crypto is developed and issued by private groups. Enaira is now an asset that can be bought and sold on the blockchain just like crypto. And that's how the government hope that the value of Enaira might pump |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Hamachi(f): 4:44pm On Nov 01, 2021 |
Check out M.y.c.r.y.p.t.o.n.g on telegram |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Gwayas(m): 4:54pm On Nov 01, 2021 |
Can someone please educate me on this e-Naira, what is the difference between it and crypto currency. I'm very confused now |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Nobody: 5:00pm On Nov 01, 2021 |
SmartPolician: Nice. If it's not public it means it's private. It could be a simple private configuration of the Ethereum blockchain network. CBDC used blockchain and DLT but the data is not public. It is a permissioned system. Blockchains such as Ethereum are permissionless that's why they allow public participation and full transaction viewability. |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Datedoboy: 5:05pm On Nov 01, 2021 |
Timoleon: No sir Ghana is not. I only used Ghana as a reference point but let us start from somewhere. Ok let me ask you sir. Who is our competition with the way Naira is falling. Zimbabwe right? Am not bothered anyway if NGN likes it should be usd2k it will even favour me. I'm just thinking of other people 1 Like |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Nobody: 5:11pm On Nov 01, 2021 |
ERAKAMUS: E naira is using Hyperledger Fabric blockchain |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Nobody: 5:12pm On Nov 01, 2021 |
Jeffrizzy01: Hyperledger Fabric blockchain. |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Nobody: 5:12pm On Nov 01, 2021 |
SmartPolician: Hyperledger Fabric blockchain |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Joydan95: 5:16pm On Nov 01, 2021 |
thebosstrevor1:It sounds senseless to me cos the online banking is similar to it so what really is the difference? |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by Timoleon(m): 5:21pm On Nov 01, 2021 |
Honestly you are not thinking of anybody. You merely grabbing at straws without addressing your initial submission despite the fact that I had answered you that You cannot discourage demand for the dollar with an import dependent economy. It’s that simple. The main currency for international trade is the dollar. If we as Nigerians want to bring anything in which we always do, we have to convert to dollar to buy and import. If we were a major exporting country we could leverage on that to encourage people to buy the naira so as to trade with us thereby increasing the value of the naira through demand. Datedoboy: |
Re: Foreign Investors Won’t Be Interested In eNaira – Reno Omokri by GeneralDae: 5:37pm On Nov 01, 2021 |
Timoleon:His point is that Ghana is not really exporting that much but heaven did not fall when they did what they did. You haven't really addressed that part. You just keep asking the same question.. "is Ghana your competition". 1 Like |
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