₦airaland Forum

rvp20182:
Why don't we have a blackmarket rate like Zoogeria.Now nearly twice official rate.Imf edict was for all countries mostly Nigeria, Egypt and Ethiopia.You are creating poverty at industrial scale while propping naira

The imf was specific about Kenya to stop the artificial propping up of the shilling. They're telling you to let the true value of the shilling reflect.

ProblemChild1:
Why are you also ashamed to post your shambolic brown roof republic

portharcourt is not igboland you thus ipob animal

Just40:
You think the dealerships who sell them got them for free?
Have you seen any thief dash out freely something that he risked his life for?

😂🤣

Stolen property is stolen property. The West African criminal DNA must be strong in you to feel comfortable driving stolen property and bragging about it.

rvp20182:
Kenya banned used cars older than 8yrs in 1990s and imposes heavy duty of 100% on those cars still..how is that comparable to your small zoo..look for a video of kenya traffic...and compare to your roads with very old rickety cars..your country look stone age.. houses rusted..cars rusted..everywhere you look umbrellas and hawkers. The same with Nigeria

Fact is Kenya is still importing 10 years old plus cars and now thinking of banning those older than 10 years

That explains why new cars sales is so low and it also explains why too many rickety cars are on Kenya roads.

While rusty houses is Normal in Kenya, it's not normal here.. the shit that you guys live in in Kenya can only qualify to be storage units for farm products here.

Kenya is just a backward huge Zoo

gallivant:
Stolen property is stolen property. The West African criminal DNA must be strong in you to feel comfortable driving stolen property and bragging about it.

rant more.

You think when you go buying a car, it's written on it, this car is stolen er?

The criminals are in the US and they are US citizens

rvp20182:
So farmers loans are emergency. You think everyone here got Nigeria type of education. Overdraft are used by your broke gov to pay salaries and such kind of expenses...it gone to beyond ridiculous with Buhari. 50B dollars...trillions of naira

So emergency means salaries automatically even when you can't find an article that categorically states CBN borrowed to Government for Government to pay salaries? Yet there are articles everywhere that shows what type of emergency funding CBN used the overdraft for. Don't speak from your ass again and don't be dull. If it was used for salaries, our media which is largely opposition media, would have made this known to the world immediately without fail.
I told you it was majorly used to help farmers in an Anchors Borrowers Program and the rest of it sucked up by corruption.

Nigeria is not little India borrowing to pay Federal salaries.

Just40:
rant more.

You think when you go buying a car, it's written on it, this car is stolen er?

The criminals are in the US and they are US citizens

The criminals are West Africans. Your country is full of them from importers to the buyers. A true banana republic. It's repulsive you are bragging about stolen goods without shame. Are you hushpuppi?

gallivant:
The criminals are West Africans. Your country is full of them from importers to the buyers. A true banana republic. It's repulsive you are bragging about stolen goods without shame. Are you hushpuppi?

The criminals are East Africans because they buy use cars.🤣😂
That explains why Kenyans are getting arrested for drug trafficking in Ghana.

Same way the Europeans brag about buying stolen goods from Africa.

I'm sure you've not eaten yet hence your frustrations

https://www.standardmedia.co.ke/article/2001280343/kra-crushes-more-than-100-vehicles-photos

Since 1990s - nobody dares import an 8yr older car (it actually 7yrs) - leave that a car that doesn't pass stringent inspection. Again 3rd condition - you have 5 days to clear your car - if overstays you start paying 100 dollars per of port charges per day - within a month or two - your worthless car is crushed.

That picture is KRA office in Athi river - such cars are crushed - and you pay for the crushing. Tanzania and Uganda like Ghana and Nigeria recently tried to implement something similar - but you're like 30yrs late.

Just40:
Fact is Kenya is still importing 10 years old plus cars and now thinking of banning those older than 10 years

That explains why new cars sales is so low and it also explains why too many rickety cars are on Kenya roads.

While rusty houses is Normal in Kenya, it's not normal here.. the shit that you guys live in in Kenya can only qualify to be storage units for farm products here.

Kenya is just a backward huge Zoo

Obaaderemi2:
So they have been artificially propping up the value of the shilling? The clowns.

Yes.
That is a game which they played for ages

You're incorrighible; not suprising from a Nigeria; As far as I recall that Anchor Borrower Program was CBN direct lending to farmer. Overdraft is taken by Nigeria Federal and state gov for emergency funding - and those are normally paying for salaries, debt, pension.

Bloody Nigerian morons - overdraft is not unique to Nigeria - even Kenya once in a while - ask for overdraft from Central Bank (which is gov banker) - like you ask for overdraft from your commercial bank. Uhuru last year took 65B KES overdraft - huge in kenya parlance - and sign of things starting to go Zoooegeria like - and we are luckly we have Ruto.

What Nigeria CBN does of course is crazy 1) 50B dollars overdraft!!! 2) Also lending directly to retail consumers - remit of commercial banks.

The job of Central Bank 1) Issue TBills - short term - 1yr domestic debt on behalf of gov 2) Issue treasury bonds on behalf of gov 3) deal with forex issues 4) offer banking services to banks (not direct customers) 5) receive gov money either locally or internationally.

When you ask for over-draft - in simply means - you're struggling to raise debt through normal channels (bills or bonds) or revenues - and have resorted to printing money.

That printing of money is responsible why every year Naira is becoming more and more worthless - remove the temporary peg - and it will drop to 800 naira to 1 dollar - and of course that inflation (money supply not commensurate with economic activities) create poverty as hardworking poor Nigeria now had to dig in - while your federal gov is creating fake money - and diluting Naira spending power.

GeneralDae:
So emergency means salaries automatically even when you can't find an article that categorically states CBN borrowed to Government for Government to pay salaries? Yet there are articles everywhere that shows what type of emergency funding CBN used the overdraft for. Don't speak from your ass again and don't be dull. If it was used for salaries, our media which is largely opposition media, would have made this known to the world immediately without fail.
I told you it was majorly used to help farmers in an Anchors Borrowers Program and the rest of it sucked up by corruption.

Nigeria is not little India borrowing to pay Federal salaries.

Tanzanian projects
112 kms outer ring road under construction ,a dual carriageway in Dodoma

You cant rig the economic game for long before it shows. You saw in Magufuli when he tried cooking economic data -after scaring investors- forex outflowed followed - and Tanzania KES weaken - and you had to raid forex beaurue.

You're luckly you got Samia - who has assured the investor and some of that forex is coming back.

Countries in trouble in forex now - Nigeria, Ethiopia and Egypt. Egypt is dealing with problem head on - with devaluation.

Nigeria is scared to even start addressing their mess as their fake economy will be exposed. Ethiopia unlikely to address the problem too.

Kazikazi:
Yes.
That is a game which they played for ages

Dodoma,Tanzania
New msalato international airport under construction

rvp20182:
You cant rig the economic game for long before it shows. You saw in Magufuli when he tried cooking economic data -after scaring investors- forex outflowed followed - and Tanzania KES weaken - and you had to raid forex beaurue.

You're luckly you got Samia - who has assured the investor and some of that forex is coming back.

Countries in trouble in forex now - Nigeria, Ethiopia and Egypt

Keep on singing the old chorus.
Tanzania under magufuli was doing well.No loadshedding, no currency fluctuations, no corruption. Mining laws were reformed,big projects came up,even agricultural revolution which is current underway was initiated by magufuli.

Anyway,why are u pointing fingers at naija,ethio,and Misri while you are worse?

rvp20182:
https://www.standardmedia.co.ke/article/2001280343/kra-crushes-more-than-100-vehicles-photos

Since 1990s - nobody dares import an 8yr older car (it actually 7yrs) - leave that a car that doesn't pass stringent inspection. Again 3rd condition - you have 5 days to clear your car - if overstays you start paying 100 dollars per of port charges per day - within a month or two - your worthless car is crushed.

That picture is KRA office in Athi river - such cars are crushed - and you pay for the crushing. Tanzania and Uganda like Ghana and Nigeria recently tried to implement something similar - but you're like 30yrs late.

Another lie just just to try and compete with Ghana 😂🤣

Just40:
Another lie just just to try and compete with Ghana 😂🤣

We are not trying to compete with stolen American automobiles.

Arusha,Tanzania

rvp20182:
You're incorrighible; not suprising from a Nigeria; As far as I recall that Anchor Borrower Program was CBN direct lending to farmer. Overdraft is taken by Nigeria Federal and state gov for emergency funding - and those are normally paying for salaries, debt, pension.

Bloody Nigerian morons - overdraft is not unique to Nigeria - even Kenya once in a while - ask for overdraft from Central Bank (which is gov banker) - like you ask for overdraft from your commercial bank. Uhuru last year took 65B KES overdraft - huge in kenya parlance - and sign of things starting to go Zoooegeria like - and we are luckly we have Ruto.

What Nigeria CBN does of course is crazy 1) 50B dollars overdraft!!! 2) Also lending directly to retail consumers - remit of commercial banks.

The job of Central Bank 1) Issue TBills - short term - 1yr domestic debt on behalf of gov 2) Issue treasury bonds on behalf of gov 3) deal with forex issues 4) offer banking services to banks (not direct customers) 5) receive gov money either locally or internationally.

When you ask for over-draft - in simply means - you're struggling to raise debt through normal channels (bills or bonds) or revenues - and have resorted to printing money.

That printing of money is responsible why every year Naira is becoming more and more worthless - remove the temporary peg - and it will drop to 800 naira to 1 dollar - and of course that inflation (money supply not commensurate with economic activities) create poverty as hardworking poor Nigeria now had to dig in - while your federal gov is creating fake money - and diluting Naira spending power.

There is no report the overdraft was specifically used to pay salaries. Every month, Federal Government shares money to states and Local Government. These monies are usually gotten from taxes and oil revenues combined. That's what's used to pay salaries .

I am saying because reports call it overdraft doesn't mean it was used to pay salaries. No evidence of that. It was rather used to embark on new programs and projects and multiple lending.

Read my comment well, don't write like a wannabe slowpoke.

GeneralDae:
Tanzania should be the powerhouse of East Africa.

Not Kenya, not even Ethiopia.

Kenya is the tech powerhouse of East Africa for a fact though.

But it isn't, even though blessed with natural resources and peace since independence, they are still competing with tiny nations like Ghana.

https://www.statista.com/graphic/1/1120999/gdp-of-african-countries-by-country.jpg

Children's ward at muhimbili government hospital,Tanzania

Magufuli was your twin - small minded who think development is running around like headless chicken. We had Moi doing that for 24yrs and the results was a collapsed economy.

Economy is run through BRAINS - not brawl. Magufuli was fingered by IMF for cooking data - after he realized - his running around produced opposite effect - low economic growth.

Under Jakaya Kikwete - TZ economy was growing at 7% - now you're doing 3-5%. You're not growing. Kenya has increased the gap on you.

KES is free -floating but IMF & many thought it was over-valued (@100) - this USD run has done the devaluation(130) - it's now where it supposed to be. Uhuru had also mismanaged thanks to self-interest the forex market - with crooked banks cashing a billion dollars - as inter-bank forex collapsed and opaqueness set in - infact even black market was starting in Kenya. Those are now sorted. KES is free floating, forex market and the rate you get from everywhere is the same.

Naira needs to devaluaed to match the black-market - so does Birr. That everyone with brain knows.

Kazikazi:
Keep on singing the old chorus.
Tanzania under magufuli was doing well.No loadshedding, no currency fluctuations, no corruption. Mining laws were reformed,big projects came up,even agricultural revolution which is current underway was initiated by magufuli.

Anyway,why are u pointing fingers at naija,ethio,and Misri while you are worse?

You're thick-headed.
The first charge on gov account is DEBT DEBT DEBT - otherwise you default
NIGERIA ALREADY SPEND 100% of its revenue servicing it's DEBT.
Technically after paying debt - it has nothing LEFT IN ITS COFFER.
IT BORROWS OVERDRAFT - now running whooping 50B dollars ( how much rice can 50B dollars grow )
2nd Charge is now Salaries and O&M
Last charge - if funds available - are development or infrastracture.

GeneralDae:
There is no report the overdraft was specifically used to pay salaries. Every month, Federal Government shares money to states and Local Government. These monies are usually gotten from taxes and oil revenues combined. That's what's used to pay salaries .

I am saying because reports call it overdraft doesn't mean it was used to pay salaries. No evidence of that. It was rather used to embark on new programs and projects and multiple lending.

Read my comment well, don't write like a wannabe slowpoke.

Kazikazi:
I don't troll naija. I only troll the Kenyans because they have been publishing A lot of lies about my country in all international media. I have no issues with the rest of African nations

Kenya is not your mate. Try competing with tiny Ghana.

https://www.icirnigeria.org/wp-content/uploads/2021/12/Top-10-African-Economy-by-GDP-in-2021.1.png

gallivant:
But it isn't, even though blessed with natural resources and peace since independence, they are still competing with tiny nations like Ghana.

https://www.statista.com/graphic/1/1120999/gdp-of-african-countries-by-country.jpg

Just accept Ethiopians and Angola are ahead of u

Kazikazi:
Just accept Ethiopians and Angola are ahead of u

Kenya is ahead of Bongolalas. I can sleep peacefully. ✌

rvp20182:
You're thick-headed.
The first charge on gov account is DEBT DEBT DEBT - otherwise you default
NIGERIA ALREADY SPEND 100% of its revenue servicing it's DEBT.
Technically after paying debt - it has nothing LEFT IN ITS COFFER.
IT BORROWS OVERDRAFT - now running whooping 50B dollars ( how much rice can 50B dollars grow )
2nd Charge is now Salaries and O&M
Last charge - if funds available - are development or infrastracture.

FAAC is shared every month in Nigeria approximating 2 Billion dollars with reports on where they come from. The Bulk of it is oil and non-oil taxes. If the Federal Government at any given month shares FAAC that comes from CBN lending, it would be out in the open. I know what the functions of CBN are but you want to impose salary payment into this discussion because you saw Overdraft.
My point is without Overdraft Nigeria wouldn't stop sharing FAAC but would be incapable of embarking on projects just like Kenya now.

He nearly died from depression when Magufuli who was to overtake Kenya died Now is daily praying for the day BONGO LALAS overtake kenya. Never gonna happen when average Tanzania is mentally deficient.

gallivant:
Kenya is ahead of Bongolalas. I can sleep peacefully. ✌

FAAC or FUC.KC or whatever are revenues
Debt servicing to revenue in Nigeria already exceed 100%.
Now Nigeria has three options - ask CBN to borrow from Nigerians as Tbills and Tbonds.
Or ask CBN for overdraft - to print the money.
Under Buhari the printing has reached 50B dollars.

There is nothing special about Public Finances of Nigeria.

Countries that print money do exactly that - take overdraft or do QE
Overdraft - print and give money to federal gov of Nigeria
QE - print money and use it to buy assets like banks or name it.

GeneralDae:
FAAC is shared every month in Nigeria approximating 2 Billion dollars with reports on where they come from. The Bulk of it is oil and non-oil taxes. If the Federal Government at any given month shares FAAC that comes from CBN lending, it would be out in the open. I know what the functions of CBN are but you want to impose salary payment into this discussion because you saw Overdraft.

SmallDick99:
Imagine some silly nigerians defending Nigeria on this thread.

Like what exactly are u defending this Zoo for, like since 1960 to date and nothing is working and the zoo is still getting worse.

Where u guys still get this mental strength to defend this dead country is where I don't understand; or u just want to cover your shame? When it stinks a thousand miles away?
Or you want to continue claiming one audio giant Africa tag that hasn't gotten u anywhere?

This is not time to be blindly and delusionally Patriotic but a time to find lasting solution and put this country back on track.

Stop this show of shame in this thread. Nigeria now is dead and Kenya, Ghana or whatever are slightly better than this Zoo in almost every developmental parameters.

Go fix your (our) dead country; oh I know you're helpless, so sorry!

Another kiberan impersonating again, u guys re nt smart at all.

rvp20182:
FAAC or FUC.KC or whatever are revenues
Debt servicing to revenue in Nigeria already exceed 100%.
Now Nigeria has three options - ask CBN to borrow from Nigerians as Tbills and Tbonds.
Or ask CBN for overdraft - to print the money.
Under Buhari the printing has reached 50B dollars.

There is nothing special about Public Finances of Nigeria.

Countries that print money do exactly that - take overdraft.

That 100% debt servicing to revenue is just data for data sake. Nigeria has other means of revenues from within such as Sukuk Bond and others.

data for data sake; Nigerians; Zoogerian; West Africans;
A morally bankrupt country.
A financially bankrupt country.

Sukuk bond/Treasury bonds/ - are part of deficit financing - and that is not money printing - because that is Nigeria gov borrowing real money.

Not printing money - leading to increase in money supply - causing inflation - weakening naira - creating poverty.

Overdraft is not sukuk or treasury bills or treasury bonds - it simply printing money.

GeneralDae:
That 100% debt servicing to revenue is just data for data sake. Nigeria has other means of revenues from within such as Sukuk Bond and others.