baralatie:

And I explained it to you and you did not get it?

What should I do again!

Ok
Please stop quoting me if you don't mind
Thanks

For just 3weeks into the new year?

baralatie:

I believe yahoo yahoo is called cyber crime and the last thing you want is total blacklist from trade
Dubai is already dealing with Nigerians!
It ain't funny

It is an organic outcome of a depressed economy with high value differential between local economy and foreign fiat. The budget on Cyber security will be increased and seems to work better than blacklisting since it's not a macro economic impasse.

Saturn444:


It is an organic outcome of a depressed economy with high value differential between local economy and foreign fiat. The budget on Cyber security will be increased and seems to work better than blacklisting since it's not a macro economic impasse.

Already the budget on cyber security from USA,euro and china is more than Nigeria's budget!
They will get more people employed
They will be become more sophisticated in technology and bring out new products but for a blacklisted economy like what you are suggesting Nigeria should get.itself into a second time
It is more unemployment,inflation rate in triple digits,crime,and every bad thing it can find examples of countries are Venezuela,Zimbabwe,Iran.
.let us forget different kind of special ops from these countries into Nigeria without reckon

aribisala0:
They are not "spending"

It means they will exchange that for Naira.(buy naira)

The Naira is essentially a DEBT of the CBN so n effect they are redeeming their debt

The more demand there is for naira the higher its "value"
So the CBN is moving money from one account to another

I see sense in your analysis, there should be better explanation by the handlers of this economy, not everyone will understand all these fundamental news that's not self-explanatory. The media too won't help matter in their reportage.

Please how will they select the defenders? I believe I have viable defending skills

nairavsdollars:
Why Buhari is still retaining that dullard CBN Governor still amazes me

What do you expect?

Asking a dullard to remove another dullard is weird

Dullard begat dullard

Will this still solve the country's problem.??

Another means to loot ahead of 2023 election

baralatie:

Already the budget on cyber security from USA,euro and china is more than Nigeria's budget!
They will get more people employed
They will be become more sophisticated in technology and bring out new products but for a blacklisted economy like what you are suggesting Nigeria should get.itself into a second time
It is more unemployment,inflation rate in triple digits,crime,and every bad thing it can find examples of countries are Venezuela,Zimbabwe,Iran.
.let us forget different kind of special ops from these countries into Nigeria without reckon

Not really a national economic policy recommendation but an intrinsic reaction of individuals who understand the instant financial gain associated with the cash flow. With the remote p2p and b2b connectivity provided by low latency and high bandwidth support services. A con mind designs what to do with a loaded gun.

I am forced to assume that high moral standards and cyber security is the control and not national blacklizt threat.

Coolsperm:
The naira is just like local Yoruba musims no value

Thunder fire you

Raph82:
I see sense in your analysis, there should be better explanation by the handlers of this economy, not everyone will understand all these fundamental news that's not self-explanatory. The media too won't help matter in their reportage.

Citizens have a duty to inform themselves

Fundamentally the CBN is a bank
It is not the government
People need to grasp that basic issue

The next issue is that the CBN has assets and liabilities (.debts).

The Naira is a debt of the CBN and its value is based on confidence that it will retain value.
When people put money in a bank they believe they will get it whenever they want it.
Confidence is largely emotional

If people hear Zenith is in trouble tomorrow you will see a queue of people outside the bank wanting to withdraw their savings
If everybody that turns up is able to withdraw after a while confidence is restored

With central banks the equivalent situation is people try to exit the Naira by putting ther savings in other assets .

This is called A RUN if it happens on a large scale
.
The CBN restres confidence by making dollars available to whoever wants to buy. As long as people are able to change whenever they want confidence is restored .
So to keep that confidence the CBN sells dollars to "DEFEND" the naira. Its capacity to do this is not unlimited and so this defence may fail if major investors decide to withdraw from the naira.
Now the question of $8 billion is misleading. The actual amount used to "defend" is not determined a priori and is not a line in the CBN budget or an "expense". It depends on what happens with demand for dollars during the year and is likely to be many times more than $8 billion
Essentially the Naira is just a promissory note of the CBN
If the CBN has no assets; no gold no dollars etc then the naira is just paper

When paper money first emerged many banks issued such promissory notes which were all seen as "money".

It is worth noting that the US central Bank "The Federal Reserve" is NOT OWNED by the US government

Saturn444:


Not really a national economic policy recommendation but an intrinsic reaction of individuals who understand the instant financial gain associated with the cash flow. With the remote p2p and b2b connectivity provided by low latency and high bandwidth support services. A con mind designs what to do with a loaded gun.

I am forced to assume that high moral standards and cyber security is the control and not national blacklizt threat.

You should explain all these to north Korea,Zimbabwe,Venezuela,Iran who are been dealt with.russia is about to join that list and they are brewing fire!
You Nigeria want to brew what again!
Your case was simple the first time
The second time it will be as easy as 1,2,3

Defender of the universe

Ofadaman:
Defender of the universe

Voltron

wiringdpt:
2022 and you guys are still doing this to each other on nairaland, your lives must be pathetic

very pathetic indeed,it’s also laughable seeing mature mind making cajol of themselves.

It is clear Buhari wants to finish the country before leaving. So many discordant tunes. We go survive

Coolsperm:
The naira is just like local Yoruba musims no value

30 other animals gave this worthless piece of bile a "like", and yet they are the very same hate-filled cretins who spend all day whining about how all other Nigerians seem to hate them out of "envy" or simply "for no reason" ...

baralatie:

Funny enough!
The us tried this strategy and it did not work

Lol

Defend the naira against who. Chai This country. Just dey spend money anyhow

It won’t be well with una

Coolsperm:
The naira is just like local Yoruba musims no value

Yorubapysiatric combined plus together mixture with projesusweed.

I dont understand

Please someone should explain it better for me

I don’t understand , is it that they plan to remove from the gross external reserves without at least putting something back? If this was how other past governments were removing without putting in something, would they (current govt) have have met anything in the external reserves?

BTW Emeifile and Bubu, who is the dvllard?

nairavsdollars:
Why Buhari is still retaining that dullard CBN Governor still amazes me

Emmyblessed1:
I don’t understand , is it that they plan to remove from the gross external reserves without at least putting something back? If this was how other past governments were removing without putting in something, would they (current govt) have have met anything in the external reserves?

What are external reserves?

Why not channel that into investment in industries that can generate export earnings or at the very least import substitution for industries Nigeria has a comparative advantage (not rice farming)?

Such a waste of money. This is as good as Emefiele calling round trippers and saying "Hey, I have got some money for you guys, get your accounts ready."

Well, I guess it's quite right solution, because sometimes paricular areas might have serious issues, I mean financial ones of course, and the government, working together with financial institutions have to find the ways out. The central bank is one of the main regulators of the whole financial operations in the country, that's why it has decided to allocate particular sum of money in orderto send it to the areas, where financial instability grows. There are no better options actually in such situations. The main here is to distribute this money correctly and exclude possible unpleasant consequence of distribution.