Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,134 members, 7,818,421 topics. Date: Sunday, 05 May 2024 at 03:00 PM

Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow (4141 Views)

Net Foreign Exchange Inflow Falls 56% To $3.2bn In 3yrs / INEC Suspends The Announcement Of Results In Akpabio's Senatorial District / Soldiers Chasing Voters Away In Enugu State During The Announcement Of Results (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by socialmediaman: 9:22am On Mar 30
GeneralDae:

Check my post above from NESG website and review it against your understanding of the CBN data.

Foreign investment inflow and foreign exchange inflow are different things. Dude stop wasting your time if you don't understand what this post is about
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Lush100(m): 9:24am On Mar 30
Sir foreign exchange inflow and foreign currency inflow is one and the same thing albeit expressed in a different way.

Is like saying let demand and supply determine the price of something and saying let market forces determine the price of something.

I have not read the report and I am not for or against the report or making a scrutiny of the numbers.

Unless we are taking of Foreign direct investment (FDI) .

Peace
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by helinues: 9:37am On Mar 30
.
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by socialmediaman: 9:46am On Mar 30
helinues:

On same thread oo.

Foreign Direct Investment
Foreign exchange (or foreign currency) inflow

Helinues these are different things, for the umpteenth time.

Abeg rest.

1 Like

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by GeneralDae: 10:07am On Mar 30
socialmediaman:


Foreign investment inflow and foreign exchange inflow are different things. Dude stop wasting your time if you don't understand what this post is about
So the 1.5 Billion dollars was it foreign investment inflow or foreign exchange inflow?
I already showed you that the comparison been made so far has been with the 3.9 Billion dollars FPI and remittances made in 2023. In 2024 we received 2.3 Billion dollars FX investment inflow for just January and February alone. Do you dispute all these?
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Misterone: 10:29am On Mar 30
socialmediaman:


The claim was that the inflow showed that the policies were working.

The thing to note here is that by this time 5 years ago, Nigeria was receiving more inflows than this under a failed government
Oga! Get this clearly! It's not about the amount but about the trend. It's now a positive slope, no more negative. That's why they say it's working
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by AndroBlaze: 10:30am On Mar 30
socialmediaman:
I came across news earlier from the Central Bank of Nigeria (CBN) announcing foreign exchange inflow totaling $1.5 billion USD in just one month. According to the CBN, this was an indication that its monetary policy efforts were working.

While this news may seem positive at face value, it's important to put it to context. As of 2019, Nigeria was receiving monthly foreign exchange inflows of over $2 billion USD, despite Buhari's government being considered a monumental disaster.

The point here is, let's not celebrate or settle for mediocrity. Nigerians deserve to be fully informed about the true state of the economy.

Propaganda is dangerous for Nigeria's development. It serves only the purpose of failed corrupt leaders who focus on laundering their image rather than doing real work that benefit their people.

Oga, since you are the only one that knows the difference between Foreign Exchange Inflow and FDI, could you please give us the link to the CBN article you came across recently that is misleading everyone, please let us confirm something cheesy
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by saysoo: 11:39am On Mar 30
socialmediaman:
I came across news earlier from the Central Bank of Nigeria (CBN) announcing foreign exchange inflow totaling $1.5 billion USD in just one month. According to the CBN, this was an indication that its monetary policy efforts were working.

While this news may seem positive at face value, it's important to put it to context. As of 2019, Nigeria was receiving monthly foreign exchange inflows of over $2 billion USD, despite Buhari's government being considered a monumental disaster.

The point here is, let's not celebrate or settle for mediocrity. Nigerians deserve to be fully informed about the true state of the economy.

Propaganda is dangerous for Nigeria's development. It serves only the purpose of failed corrupt leaders who focus on laundering their image rather than doing real work that benefit their people.
that announcement from CBN was a dissaster. You increased TB rates from 8% to 16%, why investors no go rush your bills.
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Lush100(m): 11:41am On Mar 30
saysoo:
that announcement from CBN was a dissaster. You increased TB rates from 8% to 16%, why investors no go rush your bills.
.
Who told u treasury bill is 16%.

I did 20% just before the Easter holiday
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by saysoo: 11:43am On Mar 30
Lush100:
. Who told u treasury bill is 16%.
I did 20% just before the Easter holiday
oga read that report from CBN?
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by saysoo: 11:49am On Mar 30
Lush100:
.
Who told u treasury bill is 16%.

I did 20% just before the Easter holiday
Yours is for 365 maturity, 16.4% is for 92days.
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by awesomeJ(m): 12:29pm On Mar 30
socialmediaman:
For those asking, here is a link to CBN's quarterly reports which includes foreign exchange inflows:

https://www.cbn.gov.ng/documents/quarterlyecoreports.asp

You can see that even before Tinubu took over office, in the first quarter of 2023, Nigeria earned $7.2 Billion USD in that quarter, which is an about $2.4 Billion USD monthly.

You do not have to try forcing a false negative narrative here by comparing apples to oranges.

When inflows were at $2bn in 2019, from Jan to December of that year, how much was USD, did it ever go above #360.
So now that that level of inflows is returning, why shouldn't we celebrate?

Now when you say there was $2.4bn monthly inflow in 2023, you're calculating the entire foreign inflows from oil receipt, remittances, FPIs etc, and you're comparing it to a single line item- FPI in 2024, how does that make any sense.

In 2023, average FPI inflows were $300m monthly, this month of March 2024, FPI infloes were over $2bn.
The $1.5bn reported was for this past week alone.

When FPI flows shrunk to $300m in 2023, the currency took a beating, when the flows were significant in 2019 the currency was extremely stable, the prospect of that stability is why we should celebrate this increased levels now.

1 Like

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Xammie001(m): 1:06pm On Mar 30
Can you do post Pandemic review for us please, every economy in the world suffered greatly but you brought Pre-Pandemic analysis for us, Now tell me who is the one with PROPAGANDA here

socialmediaman:


The claim was that the inflow showed that the policies were working.

The thing to note here is that by this time 5 years ago, Nigeria was receiving more inflows than this under a failed government

1 Like

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Rolings: 1:17pm On Mar 30
nigeriansamurai:
Do you even understand what the OP is saying? Which blog link did the OP drop? The op is totally correct, you APC dog... If you are half as smart as you think you are you would know that Paraphrasing is normal in English. the op did not deviate from the main point of the conversation. BUT YOU INTENTIONALY CHOOSE TO DERAIL THE POINT, AND MISLEAD YOUR FELLOW NIGERIANS.
What the Op is saying is different from what the news report said.
What is you peoples problem sef?
Government no do Una go wail
Government is reporting that their reforms are working and the OP rushed to open a thread questioning that and ascribing the word not used to describe the issue...... That is dishonesty.
You don't have to like a government, but you don't have to tell LIES about the government.
My people say when we cry we can still see. That you are hungry doesn't mean you should be going about telling lies now
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Lush100(m): 1:35pm On Mar 30
saysoo:
oga read that report from CBN?
.

By default

Treasury bill rates when stated literally without selection are usually the highest possible rates which are usually the 364 days band.
Having said that....no offense at all.

It's all good
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by nigeriansamurai(m): 1:35pm On Mar 30
Rolings:

What the Op is saying is different from what the news report said.
What is you peoples problem sef?
Government no do Una go wail
Government is reporting that their reforms are working and the OP rushed to open a thread questioning that and ascribing the word not used to describe the issue...... That is dishonesty.
You don't have to like a government, but you don't have to tell LIES about the government.
My people say when we cry we can still see. That you are hungry doesn't mean you should be going about telling lies now
where is the lie? We where making 2billion (2023) on FX now we are celebrating 1.5 billion (2024). As silly as it is you say that it is causing dollar to go down, how? If you are too hungry to understand its fine, but dont assume everybody is like you. You cant go far with that attitude.
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Rolings: 1:40pm On Mar 30
nigeriansamurai:

BUT YOU INTENTIONALY CHOOSE TO DERAIL THE POINT, AND MISLEAD YOUR FELLOW NIGERIANS.

When the op rushed to open a thread to counter an information he has no knowledge about he has impressed fools like you who don't really know why they are making an argument.
A government agency reported the progress of their reforms and the next thing is an slowpoke questioning what experts came up with and you Idiot dare accuse me of misleading people? What will your call the Op that deliberately used the word HUGE when the report didn't say so.
What you idiot fail to see is that the OP is questioning the inflow implying the CBN is telling lies just because he is an opposition supporter and the next thing is you IDIOT coming at me. NA GOD GO PUNISH YOUR PAPA
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by awesomeJ(m): 1:42pm On Mar 30
nigeriansamurai:
where is the lie? We where making 2billion (2023) on FX now we are celebrating 1.5 billion (2024). As silly as it is you say that it is causing dollar to go down, how? If you are too hungry to understand its fine, but dont assume everybody is like you. You cant go far with that attitude.
Stop brandishing false stats.
FPIs in 2023 were no where near $2bn monthly.
It was more like $300m. The whole of 2023 was $3.9bn for FPIs.

So why shouldn't we celebrate $1.5bn in one week!!!

USD traded on Thursday alone were over $850m, there were months in 2023 when trades for the entire month was only a little more than that.
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Rolings: 1:43pm On Mar 30
nigeriansamurai:
where is the lie? We where making 2billion (2023) on FX now we are celebrating 1.5 billion (2024). As silly as it is you say that it is causing dollar to go down, how? If you are too hungry to understand its fine, but dont assume everybody is like you. You cant go far with that attitude.

Where did you see anybody celebrate?
They reported that their reforms is working....they weren't celebrating they were just reporting the progress of their reforms.
And isn't it insane to be comparing the inflow for a whole 2023 to the inflow of just a quarter of 2024. Make una dey do opposition with brain now
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by nigeriansamurai(m): 1:46pm On Mar 30
Rolings:


When the op rushed to open a thread to counter an information he has no knowledge about he has impressed fools like you who don't really know why they are making an argument.
A government agency reported the progress of their reforms and the next thing is an slowpoke questioning what experts came up with and you Idiot dare accuse me of misleading people? What will your call the Op that deliberately used the word HUGE when the report didn't say so.
What you idiot fail to see is that the OP is questioning the inflow implying the CBN is telling lies just because he is an opposition supporter and the next thing is you IDIOT coming at me. NA GOD GO PUNISH YOUR PAPA
lol... Ok sir. Take care of you father if he is still alive, if you do so the lord will bless you will not be hungry...
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Rolings: 1:52pm On Mar 30
Max24:

That another form of corruption - journalistic corruption.

Abi o.
They don't have to like a government but it's wrong to tell deliberate lies

1 Like

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Omoawoke: 1:59pm On Mar 30
socialmediaman:
I came across news earlier from the Central Bank of Nigeria (CBN) announcing foreign exchange inflow totaling $1.5 billion USD in just one month. According to the CBN, this was an indication that its monetary policy efforts were working.

While this news may seem positive at face value, it's important to put it to context. As of 2019, Nigeria was receiving monthly foreign exchange inflows of over $2 billion USD, despite Buhari's government being considered a monumental disaster.

The point here is, let's not celebrate or settle for mediocrity. Nigerians deserve to be fully informed about the true state of the economy.

Propaganda is dangerous for Nigeria's development. It serves only the purpose of failed corrupt leaders who focus on laundering their image rather than doing real work that benefit their people.

When working with data, you don’t just quote one figure and use it for argument. If you do this in a corporate setting, you go collect serous backlash.

What you do is show the trend because there could be outliers.

Can you show the trend of monthly inflows from 2015 till date at least so we can have an objective view to analyze the trend.

Don’t just pick one particular quarter, you aren’t talking to illiterates oo. There are many smart people here
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Omoawoke: 2:01pm On Mar 30
awesomeJ:

Stop brandishing false stats.
FPIs in 2023 were no where near $2bn monthly.
It was more like $300m. The whole of 2023 was $3.9bn for FPIs.

So why shouldn't we celebrate $1.5bn in one week!!!

USD traded on Thursday alone were over $850m, there were months in 2023 when trades for the entire month was only a little more than that.

Some people come here thinking they are speaking to their illiterate family members. Lol
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Omoawoke: 2:05pm On Mar 30
BreconHills:


Why going all the way back to 2019? Why not do yy-yy like a normal statistician and post the graph up here. Economists measure quarter over quarter and yy-yy. They don't go scratching in the dirt looking for one year. What's special about 2019 that makes it apposite for comparison with 2024?

Hahaha, the guy really thinks he’s talking to illiterates.

That’s why I love nairaland, people whey sabi plenty for here, them go burst you 😂

1 Like 1 Share

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by Omoawoke: 2:08pm On Mar 30
Xammie001:
Can you do post Pandemic review for us please, every economy in the world suffered greatly but you brought Pre-Pandemic analysis for us, Now tell me who is the one with PROPAGANDA here


Op didn’t see this this strong arguments coming. grin


He’s probably pissing his pants now and regretting ever bringing himself to self destruction here

Socialmediaman, next time don’t go into battles that pass your power, better stick with your 2 by 2 shop and be doing your warehouse economist there

1 Like

Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by socialmediaman: 2:12pm On Mar 30
Omoawoke:


Op didn’t see this this strong arguments coming. grin

He’s probably pissing his pants now and regretting ever bringing himself to self destruction here

I can’t argue or respond to every ignorant person here.

2023 is the same thing, average of $2.4 - $3.5 billion monthly forex inflows, but you can swim in your ignorance, it’s your fundamental human right

It’s not a secret, the reports are published here if you can read: https://www.cbn.gov.ng/documents/quarterlyecoreports.asp
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by socialmediaman: 2:19pm On Mar 30
Omoawoke:


Op didn’t see this this strong arguments coming. grin


He’s probably pissing his pants now and regretting ever bringing himself to self destruction here

Socialmediaman, next time don’t go into battles that pass your power, better stick with your 2 by 2 shop and be doing your warehouse economist there

You and the other poster can read the report yourselves, I published the link already. 2023 showed an average of $2.3 to $3.5 billion monthly.

People should at least do some research on their own and come up with reasonable arguments. I can’t spoon feed everyone
Re: Fact Checking The Numbers: CBN's Announcement of $1.5B Foreign Exchange Inflow by awesomeJ(m): 2:38pm On Mar 30
socialmediaman:


You and the other poster can read the report yourselves, I published the link already. 2023 showed an average of $2.3 to $3.5 billion monthly.

People should at least do some research on their own and come up with reasonable arguments. I can’t spoon feed everyone

What you need to cite is a report on FPI inflows cos that's what the $1.5bn news is about.

What you've done is basically like SLOT saying that they sold 1.5b per month from Tecno phones this year, and you go about saying last year was better cos they were selling 2.4bn -3.5bn monthly.

You're inaccurately comparing flows from just one channel this to overall flow last year.

A reasonable argument is tell us how much SLOT made from Tecno sales last year and compare it to Tecno sales this year, not the ignorant approach of comparing Tecno sales this year to entire store sales from all brands last year.

FPIs flows in March 2024 are at least 5x more than March 2023, that's what you need to understand!!!!

(1) (2) (3) (4) (5) (Reply)

2011 Election:it's Time To Believe Tb Joshua. / Lai Mohammed: Minister Of Information / NAF Lays Tolulope Adetile To Rest Today - Her Video Documentary

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 72
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.