If he can afford adverts on CNN, he is not a small boy...

They are not the one that crash the naira alone. Buhari borrowing BILLION of DOLLARS almost every 3 months for 8 years and making the billions disappear is what crashed the naira.

Baba said 'they' would release dollars, who is the 'they'?
Buhari era was free for all.

https://www.youtube.com/watch?v=z4jTo9x7mG8

wirinet:

This is the absolute truth and nothing but the truth. Nigerian bankers are the main cause of the dollar crisis we have in Nigeria. They are all criminals pretending to be bankers. Have you ever wondered why Nigerian bankers are the richest bankers in the world. How many actual banking do they do that the likes of Wigwe, Elumelu, Ovia are richer than US, UK, Chinese and even Swiss bankers. Banking business is supposed to be collecting money from customers and lending to other customers and profiting from the difference. Nigerian bankers business model is all about round tripping - they collect money from government at official rates and selling to Nigerians at blackmailer rates through bureau de change and mallam. They are singlehandedly responsible for the destruction of the Naira.

This is why Abacha jailed them all, they are all criminals. When Abacha liberalised the Banking industry, these criminals duped ordinary Nigerians billions of naira with wonder banks. They were the ones that destroyed that noble policy.

As true as what you have written is in terms of dollar profiteering, one cannot say these folk destroyed the naira. They didn't float the naira for heaven's sake. You know who did.

olisaEze:
I don’t care if you’re looking for traffic or engagements, but it can never be well with you. Imagine you’re one of the victims bereaved kids, currently confused with all this, stumbling on to this headline. Your upbringing is evidenced by your lack of respect for both the living & the dead.

This same thing Bode George is saying, I've been told by many top bankers as well. He's not lying. Learn to separate emotions from reality.
A closed mind is a closed destiny.

And this is just a wild personal opinion though: sometimes we get into a problem. We pray. God sends a solution. Then we cry over the solution because it's not what we expected. But it is what was needed. Think about that for a minute.

So him follow keep the country for this condition, naim be say na God kill am.
One problem solved.

olisaEze:
I don’t care if you’re looking for traffic or engagements, but it can never be well with you. Imagine you’re one of the victims bereaved kids, currently confused with all this, stumbling on to this headline. Your upbringing is evidenced by your lack of respect for both the living & the dead.

Shield your own, expose others. Yet, you're one of the elements dragging and painting the country bad due to the current poor economic situations. Pele, we know the tactics already.

DeepSight:


As true as what you have written is in terms of dollar profiteering, one cannot say these folk destroyed the naira. They didn't float the naira for heaven's sake. You know who did.

The case of the naira is same with fuel subsidy. Since the government feels powerless against the banking and oil business elites, they decided to take the easiest option - take it out on the poor masses. The government took the option of "removing subsidy" from the dollar because
of serious corruption in the CBN dollar auction policy.

I think this interview was done before he died.

wirinet:

The case of the naira is same with fuel subsidy. Since the government feels powerless against the banking and oil business elites, they decided to take the easiest option - take it out on the poor masses. The government took the option of "removing subsidy" from the dollar because
of serious corruption in the CBN dollar auction policy.

Oh you figure the frog is an anti corruption czar?

Jogs1900:
The truth is top bankers in Nigeria made their money from dollar racketeering...The likes of Wigwe, Tony Elumelu, etc.

During Abacha's time, he jailed many bank executives and withdrew their banking licenses because of dollar racketeering.

They were no sacred cows then. Some of those bank execs were picked up from the church. Abacha could have been our Ghaddafi. Today, you would have found frivolous court injuctions stopping the authorities from effecting arrests. Democracy is a drawback in africa.

Truth and nothing but the truth. Buhari defended the naira while the bankers did round tripping in order to make themselves rich.
I wonder how a bank Ceo is so rich that he was able to build a university and afford such a luxurious house.
Tell me how if not that they bankers engage in underhanded methods.

Truth is bitter

tafabaloo:
This explains one of the reasons the regular debit cards was stopped from being used to conduct transactions on online platforms, like ali Express and Amazon, while hiding under the fight against terrorism.
To purchase goods and services on some of these platforms, one is required to open a dollar account, which has to be funded using dollar cash procured directly from black markets, These ungodly banks would later resold the dollars o black marketers, and the cycle continues, while those genuinely in need of FX, such as importers and those in need to pay tuition and hospital fees are pushed to mallams to source for the scarce dollars.
Chei ! These guys have destroyed this country.
E no go better for these people, including our politicians who support this evil, both living and dead because their actions have sent a lot to early grave. None of them will live to enjoy their loot in Jesus name.

Yeah, even as official as visa fee payment is, one still have to source from the black market

olisaEze:
I don’t care if you’re looking for traffic or engagements, but it can never be well with you. Imagine you’re one of the victims bereaved kids, currently confused with all this, stumbling on to this headline. Your upbringing is evidenced by your lack of respect for both the living & the dead.

It will never be well with your entire generation.
If the allegations against this man are true and i believe they are; countless families have been living in pains for years, people have died and thrown into grief cos of his greed. If I was president, IG, or EFCC chairman, I would pursue for his posthumous trial. Individuals like him, who perpetrate evil deeds, must never find peace even when dead or allowed to keep ill-gotten wealth.
Nonsense.

christistruth01:
What bode George is saying is deep

He means that the hugely discounted Foreign Exchange FG gave to banks to help drive National investment
and Production for decades was sold to Mallams in the Black Market Rate and the profits pocketed by Bankers
making them stupendously wealthy instead of the money being used to build Nigerian Manufacturing and driving National Industrial Development

Nigeria would have had a better result if it had given the money to Serious Nigerian or even Lebanese Industrialists based in Nigeria because
they would have actually built the Industrial Infrastructure and industries Nigeria needed with the discounted Foreign Exchange from Government

You reaches the wrong conclusion

Never sell fx at subsidized prices! It leads to round tripping which is the purchase of forex at the official rate only to sell at the black market rate.

Lamido Sanusi said that the difference between the official rate and the black market or parallel market rate must not be more 3%. The World Bank says 5% differential may even be tolerated. Anything higher than these lead to round tripping.

When Charles Soludo was the CBN governor, he began the sale of forex to the BDC to slash the differential. It was around N120 to a dollar at the official rate when he was appointed and 150 at the black market.

By selling to the BDC's, the black market fell to around 122. The differential was barely 2%.

Sanusi too throughout his tenure worked hard to ensure the differential was low.

It was Emefiele who went off course and plunged the nation into the nightmare it faces today.

DeepSight:


As true as what you have written is in terms of dollar profiteering, one cannot say these folk destroyed the naira. They didn't float the naira for heaven's sake. You know who did.

The floating of the naira was done to stop these bankers and other criminals from their shady businesses.

See, the floating of naira and subsidy removal is something that should have been done loooong time ago.

We all know that any government that summon the courage to implement the policy will take many blames.

Unfortunately, balablu did it albeit in a wrong way.

grandstar:


You reaches the wrong conclusion

Never sell fx at subsidized prices! It leads to round tripping which is the purchase of forex at the official rate only to sell at the black market rate.

Lamido Sanusi said that the difference between the official rate and the black market or parallel market rate must not be more 3%.

The World Bank says 5% differential may even be tolerated. Anything higher than these lead to round tripping.

When Charles Soludo was the CBN governor, he began the sale of forex to the BDC to slash the differential. It was around N120 to a dollar at the official rate when he was appointed and 150 at the black market.

By selling to the BDC's, the black market fell to around 122. The differential was barely 2%.

Sanusi too throughout his tenure worked hard to ensure the differential was low.

It was Emefiele who went off course and plunged the nation into the nightmare it faces today.

The difference between Official and black Market FX rates was often more than 20%

FG intended the FX given to me Banks to be given to Manufacturers or those in other production industries to help them Grow and instructed the Banks to do that before release the hugely discounted Foreign Exchange to them which the banks instead took straight to the Black Market to get the immediate 20% Profit for themselves

FX Round Tripping doesn't grow industries
It is Profit without Production or industry

That was why Baba Bode George was asking where were their factories

Godfullsam:


The floating of the naira was done to stop these bankers and other criminals from their shady businesses.

See, the floating of naira and subsidy removal is something that should have been done loooong time ago.

We all know that any government that summon the courage to implement the policy will take many blames.

Unfortunately, balablu did it albeit in a wrong way.

Expatiate on your last five words.

thesicilian:

This same thing Bode George is saying, I've been told by many top bankers as well. He's not lying. Learn to separate emotions from reality.
A closed mind is a closed destiny.

And this is just a wild personal opinion though: sometimes we get into a problem. We pray. God sends a solution. Then we cry over the solution because it's not what we expected. But it is what was needed. Think about that for a minute.

He will not think about for any minute. Even if he thinks about it for a month, he still won't understand what you mean.
When a man allows emotions to take a better part of him, logical thinking flies through the window.

Jogs1900:
The truth is top bankers in Nigeria made their money from dollar racketeering...The likes of Wigwe, Tony Elumelu, etc.

During Abacha's time, he jailed many bank executives and withdrew their banking licenses because of dollar racketeering.

Abacha encouraged dollar racketeering.

There were 2 official rates during his regime: the official rate of 22 to a dollar and a secondary market rate of 80.

The budget was based on 22 while government revenues were calculated largely at the secondary market rate of 80.

Lamido Sanusi said the differential between the official and secondary market rate must not be more than the 3%. The World Bank said 5%. Anything above this leads to sleazy practices such as corruption, dollar racketeering and round tripping.

The differential during Abacha's rule was a mind blowing 250%. He created the monster he refused to kill. You don't blame an undertaker for burying a corpse. The Bankers simply took advantage of a situation to sweet to refuse.

Abacha used it to fleece the country of billions of dollars which he stored in Bank accounts all over the world.

Yes, Abacha did go after bankers whose banks failed which was a good thing unlike Babangida who ignored such malfeasance.

The day Nigerians realize that banks are the greatest enemies of mankind , that is the day they will seize their country back.

olisaEze:
I don’t care if you’re looking for traffic or engagements, but it can never be well with you. Imagine you’re one of the victims bereaved kids, currently confused with all this, stumbling on to this headline. Your upbringing is evidenced by your lack of respect for both the living & the dead.

Check your mental health. What respect should be accorded to anyone who is responsible for the impoverishment and death of millions of Nigerians whether they're dead of alive?

Anybody who loots from Nigeria and puts the masses in poverty is cursed. They're cursed both in life and in death. They'll find no peace in death and the curse will transcend to their progenies.

If the man is your uncle you can go hit your head on a stone

For the first time, the old man is 100% right.

I have made my recommendation before if you want Nigeria to a country either we divide or
1. Operate unicameral legislature
2. Operate federal and local government remove state government
3. The current banking system remove and overhaul
4. Remove age from recruitment like other countries
5. Make uses of dollar to buy or sell, kidnapping, corruption a capital punishment
6. Make a strong law against corruption like this Wigwe before he built that his mansion and the university let calculate his salary from when he join access bank till day .. I believe it would not reach..

Even the dead no get peace for dis country

olisaEze:
I don’t care if you’re looking for traffic or engagements, but it can never be well with you. Imagine you’re one of the victims bereaved kids, currently confused with all this, stumbling on to this headline. Your upbringing is evidenced by your lack of respect for both the living & the dead.

Please shut up. Is he better or bigger than anyone in the country?

quadraheem:
It’s so unfortunate that no one is seeing any sense from what this man is saying.
Our current economic problem actually got worsened by these set of people in the banking industry and their cohorts.

OK TINUBU BULLION VAN AND BUHARI WHO MAKE ALL THE APPOINTMENTS ARE NOT TO BLAME?


YOUR YORUBA BRAIN TRY WELL WELL.

DAT WIGWE UNIVERSITY ANNOUNCEMENT REALLY PAIN DEM WELL, WELL.


THEY SHOULD TRACK THAT AIDE THAT REFUSE TO BOARD THE HELICOPTER, I 'M STARTING TO THINK THIS WAS NOT AN ACCIDENT.

He was the Lastmessenger to import Shotguns into Nigerian Banking University. EMEFIELE.com


Orisa37

We need to start punishing corruption in earnest.

Let's adopt the Chinese method. This is a matter of national survival.

Bode George is an elder statesman. I don't think he will be talking what he does not know

Only that we're averse to the truth. Uncle Bode says it the way it is. Even the presidency is a culprit here. Nigeria problem is not unavailability but management.

The rich are in an unholy alliance against the poor

christistruth01:
What bode George is saying is deep

He means that the hugely discounted Foreign Exchange FG gave to banks to help drive National investment
and Production for decades was sold to Mallams in the Black Market Rate and the profits pocketed by Bankers
making them stupendously wealthy instead of the money being used to build Nigerian Manufacturing and driving National Industrial Development

Nigeria would have had a better result if it had given the money to Serious Nigerian or even Lebanese Industrialists based in Nigeria because
they would have actually built the Industrial Infrastructure and industries Nigeria needed with the discounted Foreign Exchange from Government

All the banks involved in the fraud, including Jaiz Islamic Bank, the C.E.O., and three others, were arrested two weeks ago for exploiting nigerians. it is the CBN that makes the rules in such a way to allow them exploit Nigerians. Bode himself is not clean, was he not jailed for stealing billion of naira? at least allow the dead Access bank CEO to be buried before you start raising dust. not proper at this moment for a man that also lost his wife and son in an accident.