Three Yoruba men. the pepper go too much

unclejb2:
Efforts in futility. You can't plant corn and expect to reap yam.

Baba druggie stole the people's mandate and the country is bearing the repercussions

APC urrcchins dey plant yam reap cassava

The parallel market is not a legitimate business.

Meanwhile Cardoso hasn't held ONE monetary policy committee meeting since he was illegally appointed. This one na proper clown

All the brains nah Yoruba brain. How will this work?

festacman:
Managing the economy is more than fiscal and monetary manipulations. The key thing is productive economic activities.

- President Tinubu, please come back home sir. Nigeria needs a new economic foundation.
- Convoke a something like 'National Economic Conference' to develop a nationwide roadmap that will tap the economic potentials of geopolitical zones
- Set up a versatile economic think-tank and keep an open mind to their ideas. Look beyond Wale Edun and work with some crazy young minds to create out-of-box ideas for policies and programs.
- Develop short and long-term Economic and Development Plans and actively Implement it.
- Be positively strong-willed and don't sacrifice crucial things that MUST be done today for tomorrow's 2nd term. Nigerians will always appreciate positive results.
- Stimulate production in different aspects of the economy through incentives, make vital reforms of laws and processes, enthrone intentional concessions, etc.
- Move focus and relocate effort from attracting FDIs to encourage local industries, SMEs and entrepreneurs.
- Create more employments, boost local food production develop creative export drive strategies to earn forex.

Spot on!
The quickest is in agriculture
What can we produce that we have competitive advantage
We got the land and human resources

only a fool will believe these people and the current govt can rescue this economy.

The three idiots are brainstorming. Nothing will come out of it. They are looking for quick fix. In a little while, their quick fix will unravel. Stop floating the naira!

lexy2014:


who are the "we"?

is there any country that does not depend on foreign goods?

which industries is the UAE, Saudi or Qatar using to produce all the things you mentioned?

the Reno you are talking about, pls where does he live?

Leave them in their fantasy. America is heavily dependent on imports.

delpee:
I wish we could all decide to drastically reduce our taste for foreign goods.

I agree with you, but then on a flip side, the machines used for local goods comes from where?

I am not a financial expert but I have noticed rather strangely that whatever USD amount is made available there are those with cash ready to buy them up. That is why CBN has been struggling to manage the high exchange rate situation.

So rather than try to fight a trend of this type, the CBN can try to turn things around such that people can buy USD from them but only with enaira or whatever digital currency CBN uses. From that point onward, any money that enters as a digital currency will now stay as a digital currency. With time, say about 8 months, a lot of the excess liquidity flying around will reduce and voluntarily find their way as digital currency.

With more people now having to use such digital currency, CBN will have better control over monetary policies. The security situation will also improve because not only will a lot more people start using digital currency for their day-to-day transactions, but cash will gradually begin to reduce, and ransom payment will also become more difficult. All BTA, PTA, Pilgrimage, Form M, or any request for forex will follow this route. It will also help to reduce round-tripping because after buying USD one time, the naira equivalent is now digital. You will from that point find it difficult to round trip since the trail will now be available. This will be far better than the haphazard approach that was used the last time that brought the economy down.

Another beauty of this is that, those kidnappers who for some reason I believe are also stocking USD will push their money indirectly into digital currency, How? you may ask considering that they use the black market for their transactions.

So, here is how even those who patronize the black market will also indirectly have their cash mopped up. For BDCs to also access USD, they will also have to exchange it with digital enaira, so that the money their customers pay to them will be entering the now-bostering enaira.

This is just a draft idea but I believe it can be tweaked further by those who are experts.

One temptation CBN should not fall for is to try to prevent those who legitimately have money in a dom account from accessing it or forcing them to take naira equivalent. It may sound good on paper but Lebanon and Argentina tried it but the result was disastrous.

dre11:
• Hold brainstorming session in Abuja

• CBN stops daily cash reserve debits for banks; adopts new framework

• Naira sustains rally after apex bank’s intervention

• FG raises exchange rate for cargo clearance to N1,356/$



https://thenationonlineng.net/edun-cardoso-efcc-chair-in-fresh-bid-to-rescue-naira/

Where is the science or mathematics to prove/justify this increase in cargo clearance? Is the customs a trading company that they need to increase the cost of clearance? If yes what are they producing? It’s bad enough the pressure on the naira is felt across the country and as a responsible government it is your duty to lighten this burden. What science has been carried out to justify this? Even if you have to increase the clearance duty, why does it have to be at the dollar to naira black market rate? It is high time we start asking the right questions. And to the senate, are you complicit with this? Don’t you care about the people that installed you there? How can a government parastatal just increase a price overnight without your deliberations and approval? It is high time we start asking the right questions. When the uk government wanted to increase visa fees. It was debilberated on and it was justified and all came to agreement that the visa and IHS fees be increased. Thats a government that has done its research by applying science and mathematics. What are we doing in this country called Nigeria??

Penguin2:
Nothing the fools do will ever work because they are holding a cursed mandate.

If una like, go and hire the entire staff of JP Morgan, nothing will change.

Shebi Tinubu thought he could frustrate Jonathan’s govt? Una go see frustration tire.

Ndi ala!

You will cry tire. We are in government. We run the the show. Jonathan has become Tinubu:s friend, yet children filled with hatred and bitterness are still weeping uncontrollably

drlaykay:
The problem of the black man is selfishness. Nigerians think of themselves first and care less about the collective state of the nation.

The president is the least problem of Nigeria.
Nigerians are bad and wicked.

A lot of shady dealings by private sectors, high placed individuals and even ordinary people without name.

A reasearch revealed that Nigerian paracetamol is only about 200mg instead of 500mg. The rest is chalk. Nigerians pay China and others to produce substandard goods including drugs for their fellow Nigerians. Oyinbos are wicked but will never do things at the detriment of their country or people.

Part of the demonic attitude of Nigerians is being happy and praying for the country to fail because your preferred candidate isn't in power.
You deserve what you get for being wicked people.

if those in charge are not corrupt who born ordinary office workers to be corrupt? All over the world there is always counterfeit goods and medicine the other day USA police seized counterfeit goods worth 1billion dollars,back to the topic, tinubu and his lagos boys are all criminals , you can preach from here to Papua new Guinea it won't change anything, when you guys were busy shouting I don't care if buhari present nepa bill as school certificate today you want to preach to us about uprightness because tinubu is president may amadioha soda your yash

Scholace:
i thought your emilokan singlehandedly built Lagos? Why looking for idea when he has absolutely everything? We warn you guys just as we warn una about Tinubu, but to an average die hard Tinubu supporters they believed anyone against their Messiah is Igbo. I am a Yoruba man from Osun state and i didn't support anything APC nor Tinubu. Tinubu has absolutely nothing to offer Nigerians. It's getting to a year now he became the president, he has made Nigerians begging for Buhari to come back.

Thanks for being reasonable. I will never support a dullard from my tribe against a far more competent person from another tribe. If Osinbajo was the one brought forth, I would have no issues with supporting him.

Ok. Happy brainstorming. Check out this free app — It Pays to Walk 🚶 https://sweatco.in/i/michaelayohilarious

delpee:
I wish we could all decide to drastically reduce our taste for foreign goods.

Imported drinks, designer wear, luxurious cars, furniture, cosmetics, even toothpicks all require loads of forex. The truth is that if we concentrate our focus on patronising local producers more, they'll improve over time and we'll save more forex. Reno Omokri may sometimes sound like town crier, but he said as much. When given a deep thought, it's obvious that he's right.

Sharrap.

Even the fuel you used to charge your phone is imported.

The network you're using to browse is owned by foreigners.

If I tell you to use firewood now, you will start crying

Agugbadin:
The parallel market is not a legitimate business.

It is highly illegal

In some country that's instant execution

Anatolia:


Leave them in their fantasy. America is heavily dependent on imports.

The wicked souls are using import dependent to justify the rapid devaluation of the naira

Penguin2:
Nothing the fools do will ever work because they are holding a cursed mandate.

If una like, go and hire the entire staff of JP Morgan, nothing will change.

Shebi Tinubu thought he could frustrate Jonathan’s govt? Una go see frustration tire.

Ndi ala!

You are the one that is frustrated because the government is not suffering

ojesymsym:
I am not a financial expert but I have noticed rather strangely that whatever USD amount is made available there are those with cash ready to buy them up. That is why CBN has been struggling to manage the high exchange rate situation.

So rather than try to fight a trend of this type, the CBN can try to turn things around such that people can buy USD from them but only with enaira or whatever digital currency CBN uses. From that point onward, any money that enters as a digital currency will now stay as a digital currency. With time, say about 8 months, a lot of the excess liquidity flying around will reduce and voluntarily find their way as digital currency.

With more people now having to use such digital currency, CBN will have better control over monetary policies. The security situation will also improve because not only will a lot more people start using digital currency for their day-to-day transactions, but cash will gradually begin to reduce, and ransom payment will also become more difficult. All BTA, PTA, Pilgrimage, Form M, or any request for forex will follow this route. It will also help to reduce round-tripping because after buying USD one time, the naira equivalent is now digital. You will from that point find it difficult to round trip since the trail will now be available. This will be far better than the haphazard approach that was used the last time that brought the economy down.

Another beauty of this is that, those kidnappers who for some reason I believe are also stocking USD will push their money indirectly into digital currency, How? you may ask considering that they use the black market for their transactions.

So, here is how even those who patronize the black market will also indirectly have their cash mopped up. For BDCs to also access USD, they will also have to exchange it with digital enaira, so that the money their customers pay to them will be entering the now-bostering enaira.

This is just a draft idea but I believe it can be tweaked further by those who are experts.

One temptation CBN should not fall for is to try to prevent those who legitimately have money in a dom account from accessing it or forcing them to take naira equivalent. It may sound good on paper but Lebanon and Argentina tried it but the result was disastrous.

The CBN know what to do but they don't want to do the right thing

They should first of all start by eliminating FX transaction in cash. It should be strictly digital where it can be traced and recorded.

Think9ja:
On a norms this Cardozo dude no suppose be anything others than special adviser on psychological matters.

He's no where near good enough to be CBN governor

Absolutely.

3 Yoruba brothers met each other hmmmm

HeeBraHim2:
This happen when you have competent people in the public position. Immediately I heard that Naira is on the rise.

I knew the news won't last longer because Tinubu appointee will tackle an.

Una dey see am now.

Lol, look at this ill informed person. Dollar is on the rise since when? Are you just knowing dollar is on the rise since Tinubu became president since last year?
So in your mind now dollar is no more on the rise and Tinubu's appointees have tackled it.
We will have this conversation again next week.

Sirmwill:



Your phone should be the first thing you'd leave

Then your clothes, your foreign rice for Nigerian local rice around the same price, and so many other things

It can't work that easily

Exactly. It's easy to talk. Also easy to say the govt should convert Dom account to Naira. That's calling for free fall of Naira.

Anything good thing to make naira strong and reduce the price of commodities in the market is a welcomed development but I doubt if anybody from APC can do that.

Many politicians both those in power and those not in power have plenty of dollar notes (I mean billions of dollars) stashed secretly in their houses. Yet the ones in power and printing more naira notes.

They reduce the amount of dollar in circulation and then increase the amount of naira in circulation.

How then do u think naira will increase in value?

If they can stop printing naira more naira notes and then bring out all the dollars in their custody then naira will bounce back.
In fact, it will bring naira back to #200 per dollar. I'm very sure of this.

Stop these corrupt politicians from stashing dollars in their homes and other secret places (even offshore accounts).

Let EFCC storm their houses at 1am the way they treat yahoo boys and search everywhere.

If we can reduce corruption to the minimum then this country will be a better place.

But APC is corruption itself and can not fight itself. It's a pity.

Dem dey play...
If after their brainstorming session, naira continues to fall, then their brain is empty.

We need result, not unproductive sessions.

Lol.
Local production is the way out and not some bureaucratic manoeuvre.

They should just convert dom accounts into Naira. What are you doing with a domiciliary account if you are not involved in international trade….you are simply buying forex creating scarcity.

It will be unpopular among the elite but it needs to be done. They are the ones killing the dollar.

Under PBATs watch the Naira (N) has become the worst currency in Africa and the third worst currency in the whole world just behind Lebanese Dollars & Argentinas Peso.

Baba should take this as a very big challenge to repair the economy.

Franklyspeakin:
They should improve the economy. Create more job and export products. No quick fix will solve this

Just relax and calm down. Ẹ fọkàn balẹ̀.
Tinubu alone made Lagos economy the third in Africa with his Chicago master plan. He is using the same strategy to make our national economy better for the common man.
Let’s be patient and see the results in the short term.