Those wheeler dealers and corrupt fatcats trying to shove Dr Ndii aside so they can begin looting.
They know as long as IMF is in town - they cannot loot.
As long as Ndii is running gov policy - and adivising gov - they will be no budget for development project to be stolen.

Aaron is dying to get road contracts from his friend Murkomen. Only problem there is no money in treasury.

I expect them to get vicious after IMF & WB pays off our 2014 Eurobond principal.

They know as long as gov is prudentially managing gov affairs - they cannot loot.

Wuoche:
It's only one year since they were elected and already they have started fighting and blaming each other for the economic mess in Kenya. Here Aaron Cheruyiot is reminding President's advisor that his theories are not working as compared to the opposition leader who Ndii claims is of high maintenance.

Of course. South Africa rand has depreciated by 15% this year - Kenya by 20% - Nigeria is 50-100% - do you see a cattle rustling opposition MP threaten poor gov officials to save their currency.

How do you save currency with forex reserves down to less than 7B - and will global enviroment where advanced nations are offering crazy interest rates - and sucking money from the world.

I am not suprisised you a fellow FALA FO>OOL and failure doesnt even understand what hell exogenous risk is.

Azimio cow.

Wuoche:


Do incompetency nowadays fall under the IVY league characteristics?

Mkenya2019:
It's not 850 - official rate - black-market -1150.

Nothing like chicken out. Naira is still freely floating until now.

Freely floating yet people are still buying from backstreet.

Nigeria need to do what I have always told you - long before brilliant Tinubu came - and implemented.

FREELY FLOAT NAIRA. It not freely floating now. Do you hear of black market dollar rate in Kenya or South Africa.

Tinubu should keep faith 1) freely float naira 2) end fuel subsidy 3) end import substitution policies 4) fix electricity 5) invest in security, free education & health esp in northern nigeria

Those 5 will pay off h

forgiveness:


Nothing like chicken out. Naira is still freely floating until now.

Mkenya2019:
Of course. South Africa rand has depreciated by 15% this year - Kenya by 20% - Nigeria is 50-100% - do you see a cattle rustling opposition MP threaten poor gov officials to save their currency.

How do you save currency with forex reserves down to less than 7B - and will global enviroment where advanced nations are offering crazy interest rates - and sucking money from the world.

I am not suprisised you a fellow FALA FO>OOL and failure doesnt even understand what hell exogenous risk is.

Azimio cow.

I expected you to know better but it seems you don't know anything about economics. You save shillings by inviting more FDI which will inject more dollars into the country, you save shillings by encouraging export and discouraging import, you save shillings by increasing manufacturing, you save shillings by safeguarding your most precious neighbor (Uganda). Through your greedy thinking Ugandan, Rwanda, DRC and South Sudan now want to stop re-importing petroleum from Kenya. That's some dollars lost from the economy.

Mkenya2019:
Freely floating yet people are still buying from backstreet.

Nigeria need to do what I have always told you - long before brilliant Tinubu came - and implemented.

FREELY FLOAT NAIRA. It not freely floating now. Do you hear of black market dollar rate in Kenya or South Africa.

Doesn't change the fact that naira is sill freely floating.

New policy against black market will be unveiled very soon.

Remember, blackmarkert is the source of income for an ethnic group in here hence the need to tread cautiously to avoid being tagged as witchhunting them.

Manufacturing companies are now running away from Kenya to neighboring countries just because they tired of this useless government. Imagine even a small country like Rwanda is taking investors away from Kenya. Most of our neighbors now prefer Dar Port compared to Mombasa.

Foreign investors are withdrawing their money from Nairobi Stock Exchange Market because of bad government policies and you are still here defending the undefendable.

It not instant coffee - fala - those things take time - years to show.

Wuoche:


I expected you to know better but it seems you don't know anything about economics. You save shillings by inviting more FDI which will inject more dollars into the country, you save shillings by encouraging export and discouraging import, you save shillings by increasing manufacturing, you save shillings by safeguarding your most precious neighbor (Uganda). Through your greedy thinking Ugandan, Rwanda, DRC and South Sudan now want to stop re-importing petroleum from Kenya. That's some dollars lost from the economy.

Why would someone go to a Hausa businessman selling dollars more expensively than their local bank?

Make me understand. Are Hausa using guns to stop people from going to buy cheap dollars (850) and go the backstreet for 1150?

You're incredible.

Black market exist because the commercial banks cannot meet dollar demand. They cannot meet because there is free market - where demand and supply forces - work to align.

Banks should sell dollars at 1150 like black market - and soon nobody will go backstreet.

forgiveness:


Doesn't change the fact that naira is sill freely floating.

New policy against black market will be unveiled very soon.

Remember, blackmarkert is the source of income to an ethnic group in here hence the need to tread cautiously to avoid being tagged as witchhunting them.

Mkenya2019:
It not instant coffee - fala - those things take time - years to show.

Shillings is falling because of Ruto lack of leadership qualities. As long as there will be no dollar injection in the economy the shillings will still continue to fall until the day Ruto will get out of the office.

Mjinga - this happening worldwide in all frontier markers - money is being move to Feds and advanced nation - to buy TRIPLE AAA rated bonds - for 5-6%.

Advanced normally offer even zero interest - now they are paying 5-6% - hard currencies - that will never default.

All the money is moving out from global south to the north.

Wuoche:
Foreign investors are withdrawing their money from Nairobi Stock Exchange Market because of bad government policies and you are still here defending the undefendable.

Check where most Africa countries are fairing on.

South Africa
https://www.reuters.com/world/africa/south-africa-cbank-chief-my-worry-is-inflation-exchange-rate-out-banks-control-2023-10-05/

Wuoche:


Shillings is falling because of Ruto lack of leadership qualities. As long as there will be no dollar injection in the economy the shillings will still continue to fall until the day Ruto will get out of the office.

Ruto is curse to this country.

Azimio wish. Name them and when they re-located. After Azimio lost last year or in this 1yr of Ruto.

Heal fala.

Wuoche:
Manufacturing companies are now running away from Kenya to neighboring countries just because they tired of this useless government. Imagine even a small country like Rwanda is taking investors away from Kenya. Most of our neighbors now prefer Dar Port compared to Mombasa.

Raila will never rule kenya. 9 more years of a curse to you - and incredible blessing to us.

Wuoche:
Ruto is curse to this country.

Mkenya2019:
Check where most Africa countries are fairing on.

South Africa
https://www.reuters.com/world/africa/south-africa-cbank-chief-my-worry-is-inflation-exchange-rate-out-banks-control-2023-10-05/

We are talking about Kenya and not South Africa. South Africa will not feed poor Kenyans.

Mkenya2019:
Azimio wish. Name them and when they re-located. After Azimio lost last year or in this 1yr of Ruto.

Heal fala.

You even don't know what are happening in Kenya. No wonder you argue with a lot of anger and ignorance.

https://techtrendske.co.ke/2023/11/27/kenyas-mpost-relocates-its-headquarters-from-nairobi-to-rwanda/

Mkenya2019:
Freely floating yet people are still buying from backstreet.

Nigeria need to do what I have always told you - long before brilliant Tinubu came - and implemented.

FREELY FLOAT NAIRA. It not freely floating now. Do you hear of black market dollar rate in Kenya or South Africa.

Tinubu should keep faith 1) freely float naira 2) end fuel subsidy 3) end import substitution policies 4) fix electricity 5) invest in security, free education & health esp in northern nigeria

Those 5 will pay off h

Black market in Nigeria is more than the eyes can see. It has been a big cartel for so long. You can't keep allowing that market dictate to the CBN. What the CBN needs to do is to find a way or policy to channel the inflows that go to the black market back into the official market. We had that balance before 2016 but due to some policies then we gave the black market a life of it's own for a long time and now it's difficult to tame.

forgiveness:


Doesn't change the fact that naira is sill freely floating.

New policy against black market will be unveiled very soon.

Remember, blackmarkert is the source of income to an ethnic group in here hence the need to tread cautiously to avoid being tagged as witchhunting them.

You mean the Abokis right? I understand.

Mkenya2019:
Why would someone go to a Hausa businessman selling dollars more expensively than their local bank?

Make me understand. Are Hausa using guns to stop people from going to buy cheap dollars (850) and go the backstreet for 1150?

You're incredible.

Black market exist because the commercial banks cannot meet dollar demand. They cannot meet because there is free market - where demand and supply forces - work to align.

Banks should sell dollars at 1150 like black market - and soon nobody will go backstreet.

In 2016, we made new rules that somehow mandated a restricted official market. Banks giving to only a select few. Thus even till this day, the Banks hoard dollars and direct you to the black market (Abokis). Therefore no matter how high black market is, the general perception is that you get dollars quicker there than the Banks.

This is where I blame Tinubu. His Government quickly devalued without giving confidence to the market first that the Bank process has been made easy and dollars would not be hoarded in Banks for round tripping at the black market.

He devalued to quickly get investors but they did not come quickly because of hikes in interest rates in UK and USA.

At least you're honest.
In normal functional country - CBN doesnt dictate - free forex market dictate.
CBN - just make sure to weed out hausa - and allow proper forex and commercial bank to sell dollars.

GeneralDae:

Black market in Nigeria is more than the eyes can see. It has been a big cartel for so long. You can't keep allowing that market dictate to the CBN. What the CBN needs to do is to find a way or policy to channel the inflows that go to the black market back into the official market. We had that balance before 2016 but due to some policies then we gave the black market a life of it's own for a long time and now it's difficult to tame.

Must be super profitable to be a banker in Nigeria.
That kind of arbitrage is crazy.
If you're connected - buy dollars at 850 - in bank
Go to the backstreet - sell at 1150.
Cool - 300 Naira per dollar - easy money - zero work done - zero risk. Almost 30% profit.

The Zoo cannot be fixed by Tinubu unfortunately - the dysfunction is too much

GeneralDae:

In 2016, we made new rules that somehow mandated a restricted official market. Banks giving to only a select few. Thus even till this day, the Banks hoard dollars and direct you to the black market (Abokis). Therefore no matter how high black market is, the general perception is that you get dollars quicker there than the Banks.

This is where I blame Tinubu. His Government quickly devalued without giving confidence to the market first that the Bank process has been made easy and dollars would not be hoarded in Banks for round tripping at the black market.

He devalued to quickly get investors but they did not come quickly because of hikes in interest rates in UK and USA.

Mkenya2019:
Why would someone go to a Hausa businessman selling dollars more expensively than their local bank?

Make me understand. Are Hausa using guns to stop people from going to buy cheap dollars (850) and go the backstreet for 1150?

You're incredible.

Black market exist because the commercial banks cannot meet dollar demand. They cannot meet because there is free market - where demand and supply forces - work to align.

Banks should sell dollars at 1150 like black market - and soon nobody will go backstreet.

Because banks don't sell. So, where do you buy?

Banks are part of the problem.

Banks are allegedly accused of using it to do business. The reason new policies are underway. Banks must also recapitalize.

Mkenya2019:
IMF were invited to Kenya by Uhuru kenyatta in 2020.
It one the FEW wisest thing he did. Ruto found IMF program ongoing.

Ghana refused to invite IMF in 2020 - and last year they defaulted - and found themselves in their fours before IMF.

Ruto faith with IMF reform programs - which Aligns almost 100% with his gov plans - has seen IMF & WB agreeing to underwrite our Eurobond.
Without which - default was looking certain.

IMF is only a problem if you do not want to reform - if you need to be pushed out to do the right things.

Ghana is not at it best but is doing fine without having to implement IMF kill pill like Kenya is doing.

GeneralDae:

You mean the Abokis right? I understand.

Mkenya2019:
Must be super profitable to be a banker in Nigeria.
That kind of arbitrage is crazy.
If you're connected - buy dollars at 850 - in bank
Go to the backstreet - sell at 1150.
Cool - 300 Naira per dollar - easy money - zero work done - zero risk. Almost 30% profit.

The Zoo cannot be fixed by Tinubu unfortunately - the dysfunction is too much

Exactly. But the zoi is ya backyard.

At least you're now admitting you got problems.
Ghana policy wonks are normally humble enough when they messed up
They invite IMF and are soon out of danger.

If they make a mistake - and dont implement imf policies or do it half-heartedly - you'll cry more.

Few countries have managed without IMF. Pills are painful but the disease can kill you

Just40:
Ghana is not at it best but is doing fine without having to implement IMF kill pill like Kenya is doing.

We have Zoogeria and Zoomalia.
We dont have black market for dollars in kenya.

forgiveness:



Exactly. But the zoi is ya backyard.

Mkenya2019:
We have Zoogeria and Zoomalia.
We dont have black market for dollars in kenya.

Zookenya. You're right

Mkenya2019:
At least you're now admitting you got problems.
Ghana policy wonks are normally humble enough when they messed up
They invite IMF and are soon out of danger.

If they make a mistake - and dont implement imf policies or do it half-heartedly - you'll cry more.

Few countries have managed without IMF. Pills are painful but the disease can kill you

You probably had reading and comprehension problem and that is why you didn't know I've been saying this from 2020...

Ghana came out of it mess quite a long time before IMF....not implementing IMF recommendations is something Ghana is used too. It always has been the case, we only implement our own economic policies to put us back on track.

IMF themselves knows that Ghana hardly implement their policies.

I see you're still as insane as ever. I thought a little break would have been good for you.

Just40:
You probably had reading and comprehension problem and that is why you didn't know I've been saying this from 2020...

Ghana came out of it mess quite a long time before IMF....not implementing IMF recommendations is something Ghana is used too. It always has been the case, we only implement our own economic policies to put us back on track.

IMF themselves knows that Ghana hardly implement their policies.