₦airaland Forum

:nothing meaningful will come out from the summoning, we know their way

Ykc2:
Mechanical engineer as a central bank governor because his tribe's person must be the one,I no blame northerners or people from SW na people wey get the oil I dey blame,oil money was used to built both lagos and Abuja even niger republic today tinubu built lagos,people wey get oil no get mouth for wetin dey for land

You don't know anything, you only listen to what people say around you. Is the CBN governor a mechanical engineer?? Go do your research

Mcslize:
You can imagine that! What does a Mechanical Engineer know about Finance and Economy of a country aside Fluid mechanics and Thermodynamics?

How stupid can the government of Nigeria be for appointing the wrong type of people in the wrong sectors that they know nothing about?

Instead of them to appoint someone who studied Economics in school, they went and appoint an Engineer as a CBN governor. No be JuJu be that? Foolishness in its highest order.

Nigeria will never be great if we go this way, trust me.

Why have you guys turned this place to a beer parlor joint? Who told you he studied Mech Engr? Even if he did, at a point experience matters more. He's been in the banking/consulting field for years and that matters more than he studied in school. It's only in this country that you guys give paper unnecessary value. It's one of the reason that many graduates are unemployable. They don't have anything upstairs.

I honestly don't know what the Senate wants to do.

Every single day we receive new information and should be able to look at our processes and see if what we were doing makes sense. We have been defending the naira since 2010 with FX and we have got nothing out of it.

Every single person is worried about rising debt. The last administration racked up debt to about $150 billion. We largely have nothing to show for it. And lots of that went to subsidy payments and defending the naira.

Would it be sane to be borrowing $ to defend an arbitrary rate of naira? We still have about $6bn outstanding that the CBN has not been able to clear. Oil production is almost at an all time low of 1.3million barrels so we don't even have excess crude funds to leverage on. So where exactly do they expect us to get funds to stem the tide?

Asides food inflation that I am largely concerned about and wished we can quickly solve the bandits issues and secure a much more stable local source of food so swings in exchange doesn't affect food inflation. But asides that, there's no miracle to be performed. We have to cut our reckless spending and need for foreign goods and start looking inwards. We have been saying this for 20 years but never implemented it because of cheap dollars, maybe the increased exchange rates would actually force our hands to go back to the basics. You can't be a 200million population and import virtually ever single thing.

Firebrigade.
Did Nnamdi Kalu not tell us that Nigeria will become like Somalia?

fearlessfang:
This is just the beginning. By May, 2024 it would have gotten to N2000 per dollar.

Nigerians should brace up for more hardship. This is just the beginning.

More hardship and sufferings coming your way. You’re free to continue with “it will favor me and my family”

Continue in cowardice. You will suffer well

You must be generous if you say May.
End of February here.

Senate: Why is naira on free fall?
Cardoso: Is because Naira tumbled from top of Mt. Emefiele.
Senate: When will it stop falling?
Cardoso: When it hit the bottom of the Mountain.
Senate: Is it going to bounce back?
Cardoso: Is it a football?
Senate: Tor e don finished

EmperorCaesar:
Obidients will call it audio and that its just smokescreen

The lowest group around

Obedient are responsible for the free fall of the naira..lol. foolish citizens.

What do they expect from summoning the CBN boss?

Once these legislators become Abuja politicians, they begin to chase shadows regarding the problems of Nigeria.
Nigeria is not manageable as one country due to the centrifugal forces acting on Nigeria. If these Abuja Politicians of one Nigeria get the heart like Oyibo in Europe, they will be talking about dividing Nigeria now.

Throwback:
When we are ready, both government and the people, we will detach ourselves from our fascination with the dollar exchange rates.

When you have constant electricity and locally produce more, then you can bring up detachment/

Summoning up and down.
To have courage to make better laws to safeguard against all these, you people cannot do it.

Laws on good balance of trade, laws against much dependence on Forex and so on can fix Forex issue while restructuring and decentralisation of security architecture will take care of security among others.

But you people will be behaving like ostrich, summoning up and down as if it will solve any problem.

Am beginning to think you people are doing this on purpose because you people do travel and see how things are being run.

You all should remember that history beckons, and names of every public servant today will be discussed alongside millions that die out of bad governance.

JasonScoolari:
Olayemi Cardoso instead of owning up to his lack of capacity to stabilize the Naira, the funny looking clown was busy blaming Godwin Emefiele.

Do face like Smeagol in Lord of the rings.

😂😂😂. I had to go Google his picture again. You're wicked.

fearlessfang:
This is just the beginning. By May, 2024 it would have gotten to N2000 per dollar.

Nigerians should brace up for more hardship. This is just the beginning.

More hardship and sufferings coming your way. You’re free to continue with “it will favor me and my family”

Continue in cowardice. You will suffer well

correct, by August or September it would hit 3000 , they can do what the heck they want, it wouldn't make any difference. Naigeria do not produce anything or export anything apart from oil, even the oil they are not exporting because they have left the oil refinery for one selfish businessman to run.

The ZOO thrived most economically when Igbos were in charge of her economy. Since skull miners feel that they know best let's see where they stir the ZOO to. Exclude igbos from the happenings in the ZOO and suffer the consequences.

Throwback:
Worse than Emefiele?

Who despite not floating the Naira, still managed to move us from N160 to N750 to a dollar?

About 500% devaluation.

Naira has been floated.

The government is not interested in defending the exchange rate with scarce dollars.

The way you agbadorians defend nonsense is pitiful, but one thing is certain, you would suffer and you would suffer good !!

Eye service.

Wasn't it part of Tinubu's idea of suffer now and enjoy later. Wasn't it Tinubu's policy that made Naira nosedive.

Elsueno:
Do these guys not know that their own class are some of the major contributors to these abnormal sinking of naira to hell.


Imported luxury SUVs


Bogus allowances


Approving outrageous foriegn loan requests like kilode


Smiling when executives does 'ways & means' instead of checkmating them.


And they expect the naira not to SINK?

You've spoken very well and reasonably too!

They can summon the Buddah Gods or Chinese mongol it would not make a damm difference!

I am not complaining I exchanged £3000 today at a mind boggling rate of £1 to 1900 naira. Yee! pee!

gaby:
Unserious fellows.

As if they do not know how they are behind it all.

Go read my unbiased take about the madness here

https://www.nairaland.com/7987102/galloping-naira-v-dollar-opinion#128220819

l read the points you raised in your other thread, and l concur with your submissions

Paramount01:
And you are happy

Ofcourse I am happy.

Atleast Naijeeria is not yet like Zimbabwe, but who knows? Hopefully Naigeeria might end up like Zimbabwe.

Calitoscassius:
correct, by August or September it would hit 3000 , they can do what the heck they want, it wouldn't make any difference. Naigeria do not produce anything or export anything apart from oil, even the oil they are not exporting because they have left the oil refinery for one selfish businessman to run.

Nigeria elected a senile geriatric resident as president with criminals manning top key positions and are expecting progress.

They have not seen anything yet. This is just the preface.

Let them keep being a coward.

fearlessfang:
Nigeria elected a senile geriatric resident as president with criminals manning top key positions and are expecting progress.

They have not seen anything yet. This is just the preface.

Let them keep being a coward.

Ooo!! Yes! It will get worst, hopefully Naigeria will end up like Zimbabwe, Zimbabwe has since resorted to using US dollars as their own currency has no value anymore.

JasonScoolari:
Olayemi Cardoso instead of owning up to his lack of capacity to stabilize the Naira, the funny looking clown was busy blaming Godwin Emefiele.

That's one of the first way to identify a chronic failure.

Do face like Smeagol in Lord of the rings.

Especially smeagol from the horrible video game

fearlessfang:
This is just the beginning. By May, 2024 it would have gotten to N2000 per dollar.

Nigerians should brace up for more hardship. This is just the beginning.

More hardship and sufferings coming your way. You’re free to continue with “it will favor me and my family”

Continue in cowardice. You will suffer well

It won't get to may. I am projecting March

VeryWickedMan:
You must be shite if Emefiele is far better than you are.

Cardoso is shyte. Tinubu just wanted a "yes" man at the helm of affairs of the cbn, same way Emefi-ole was to Buhari.

JasonScoolari:
Olayemi Cardoso instead of owning up to his lack of capacity to stabilize the Naira, the funny looking clown was busy blaming Godwin Emefiele.

That's one of the first way to identify a chronic failure.

Do face like Smeagol in Lord of the rings.

Joy, you have not..😂! Peace, you give not. Oh ye son of vawulence!

fearlessfang:
This is just the beginning. By May, 2024 it would have gotten to N2000 per dollar.

Nigerians should brace up for more hardship. This is just the beginning.

More hardship and sufferings coming your way. You’re free to continue with “it will favor me and my family”

Continue in cowardice. You will suffer well

All you these igbo self
If I know this is how you guys will be behaving I wouldn't have voted obi self. Why bringing curse on the country, we are all in Nigeria, if you are praying for calamity on the country we will all suffer it together. We all buy in the same market. Why can't we strategize and win in 2027 instead of lamenting up and down

Just sack him already
Tinubu started it though probably with wale edun’s advice
Tinubu was an error