₦airaland Forum

awesomeJ:
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!!!!

I wasn’t responding to you earlier because you were not making sense. It was clearly stated that the data announced was Foreign Exchange inflow, which was the same data I fact checked.

I don’t know why you guys are bringing in FPI/FDI into this conversation.

Forex Exchange inflow, PLEASE READ READ:

https://www.thecable.ng/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn/amp?/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn#

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.

Foreign Exchange Inflow not FPI/FDI. Don’t be lazy to read:

https://www.thecable.ng/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn/amp?/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn#

nigeriansamurai:
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...

Go quickly wake your father up with a kick

socialmediaman:
Foreign Exchange Inflow not FPI/FDI. Don’t be lazy to read:

https://www.thecable.ng/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn/amp?/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn#

You're obviously ignorant of these things.
I gave an analogy using SLOT stores and phone brands, read that again with an open mind, you should understand the concept.

Again, the $1.5bn was FPIs (sales from just a single brand) the reports you cite are for total FX flows(sales from all brands all together)

If the the engine of Lexus RX350 is now 2.5m, and last year the whole car was 4m, wouldn't it be foolish for anyone to conclude that the price is better this year??

The logical approach is compare the engine price last year to the engine price this year. Or the price of the whole car last year to the price of the whole car this year.

Your faulty approach is comparing a subset this year to the overall collection. That's grossly ignorant.

awesomeJ:
You're obviously ignorant of these things.
I gave an analogy using SLOT stores and phone brands, read that again with an open mind, you should understand the concept.

Again, the $1.5bn was FPIs (sales from just a single brand) the reports you cite are for total FX flows(sales from all brands all together)

If the the engine of Lexus RX350 is now 2.5m, and last year the whole car was 4m, wouldn't it be foolish for anyone to conclude that the price is better this year??

The logical approach is compare the engine price last year to the engine price this year. Or the price of the whole car last year to the price of the whole car this year.

Your faulty approach is comparing a subset this year to the overall collection. That's grossly ignorant.

You this Jagabantist. The report says Foreign Exchange Inflow for March. Stop giving useless analogies when a report was published in clear language.

They didn’t say forex inflow in the first week of March, or did they say forex inflow from a specific category, the report was clear

socialmediaman:
You this Jagabantist. The report says Foreign Exchange Inflow for March. Stop giving useless analogies when a report was published in clear language.

They didn’t say forex inflow in the first week of March, or did they say forex inflow from a specific category, the report was clear

And I have educated your ignorance by saying it's only the FPI component.
That headline did not say total FX inflow for March was only $1.5bn, neither did it even say total FPI was $1.5bn.

The fact is total FPI inflows for March were over $2bn, and total FX inflows were over $4bn.

You concluding that total FX inflows were just $1.5bn based on that statement must be the reason you scored low in exams like UTME English and SHL verbal reasoning if you ever took them.

awesomeJ:
And I have educated your ignorance by saying it's only the FPI component.
That headline did not say total FX inflow for March was only $1.5bn, neither did it even say total FPI was $1.5bn.

The fact is total FPI inflows for March were over $2bn, and total FX inflows were over $4bn.

You concluding that total FX inflows were just $1.5bn based on that statement must be the reason you scored low in exams like UTME English and SHL verbal reasoning if you ever took them.

Where’s your source for your Foreign exchange data you this Jagabantist? If you don’t have one stop wasting your time here

By the way, neither my post nor the CBN report mentioned FPI so stop bringing it into the conversation like the average Jagabandit

socialmediaman:
Where’s your source for your Foreign exchange data you this Jagabantist? If you don’t have one stop wasting your time here

By the way, neither my post nor the CBN report mentioned FPI so stop bringing it into the conversation like the average Jagabandit

When the CBN speaks of foreign investors subscribing to our bonds and that in February we received 1 Billion dollars FX inflows from them, that’s FPI. That’s not the total FX inflow from February. That does not include FX inflows from oil for instance and other royalties. FX exchange/currency inflow has FX investment (FPI) included in it and it has been clear this is the aspect CBN has been concerned about and they boast that we got 2.3 Billion dollars from FPI in just two months compared to 3.9 Billion dollars the entire 2023.

GeneralDae:
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?

Foreign Exchange Inflow, clearly spelled out in English language letters:

https://www.thecable.ng/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn/amp?/nigeria-recorded-over-1-5bn-fx-inflow-in-march-says-cbn#

GeneralDae:
When the CBN speaks of foreign investors subscribing to our bonds and that in February we received 1 Billion dollars FX inflows from them, that’s FPI. That’s not the total FX inflow from February. That does not include FX inflows from oil for instance and other royalties. FX exchange/currency inflow has FX investment (FPI) included in it and it has been clear this is the aspect CBN has been concerned about and they boast that we got 2.3 Billion dollars from FPI in just two months compared to 3.9 Billion dollars the entire 2023.

If you’re the CBN then please correct us by correcting your media announcement.

They didn’t say FX inflows from bonds alone, they announced the FX inflows in March and you’re trying to explain what they meant. Haba!

socialmediaman:
If you’re the CBN then please correct us by correcting your media announcement. They have announced the FX inflows for the month of March and you’re trying to explain what they meant. Haba!

Reports use it interchangeably. For instance a quote from this report by Reuters. Read the last paragraph and see how they compared the 2.3 Billion dollars to 3.9 Billion dollars for the entire 2023. Yet they still refer to it as FX inflow.

“ABUJA, March 8 (Reuters) - Foreign exchange inflows to Nigeria rose to $2.3 billion in February, the central bank said on Friday, fuelled by renewed interest from foreign investors and a rise in overseas remittances.
Africa's largest economy has been experiencing crippling dollar shortages that have pushed its naira currency to record lows in recent weeks and forced the central bank to devalue the naira twice in less than a year.

Central Bank of Nigeria (CBN) spokesperson Hakama Sidi Ali said foreign investors bought at least $1 billion of Nigerian assets last month, bringing total receipts of portfolio inflows to $2.3 billion. That compares with $3.9 billion for the whole of 2023”.

GeneralDae:
Reports use it interchangeably. For instance a quote from this report by Reuters:

“ABUJA, March 8 (Reuters) - Foreign exchange inflows to Nigeria rose to $2.3 billion in February, the central bank said on Friday, fuelled by renewed interest from foreign investors and a rise in overseas remittances.
Africa's largest economy has been experiencing crippling dollar shortages that have pushed its naira currency to record lows in recent weeks and forced the central bank to devalue the naira twice in less than a year.

What’s different about the language used in the Reuters report? It stated FX inflow, the same thing I have fact checked.

socialmediaman:
What’s different about the language used in the Reuters report? It stated FX inflow, the same thing I have fact checked.

Yes but see the comparison to FX inflow for 2023 again in the last paragraph. They compare it to 3.9 Billion dollars for the entire 2023.

The thing is, 1.5 or 5 billion is a disgrace for a nation out size

Most likely because of these exponential inflows compared to 2023 is why CBN could pay 2.6 Billion dollars backlog this year and still keep our Gross reserves at 33.9 Billion dollars while supplying Banks and BDC’s occasionally for Naira defence.

GeneralDae:
Yes but see the comparison to FX inflow for 2023 again in the last paragraph. They compare it to 3.9 Billion dollars for the entire 2023.

The CBN publishes quarterly foreign exchange inflows into the country here, but since you haven't read any of it, let me summarize 2023 for you so that you stop mentioning erroneous figures: https://www.cbn.gov.ng/documents/quarterlyecoreports.asp

Foreign Exchange Inflows for First quarter of 2023 = $7.2 Billion USD which represents about $2.4 billion USD monthly

Foreign Exchange Inflows for Second quarter of 2023 = $8.69 Billion USD which represents about $2.9 billion USD monthly

Foreign Exchange Inflows for Third quarter of 2023 = $8.22 Billion USD which represents about $2.7 billion USD monthly

total foreign exchange inflow from January to September of 2023 was about $24 Billion USD

socialmediaman:
The CBN publishes quarterly foreign exchange inflows into the country here, but since you haven't read any of it, let me summarize 2023 for you so that you stop mentioning erroneous figures:

Foreign Exchange Inflows for First quarter of 2023 = $7.2 Billion USD which represents about $2.4 billion USD monthly

Foreign Exchange Inflows for Second quarter of 2023 = $8.69 Billion USD which represents about $2.9 billion USD monthly

Foreign Exchange Inflows for Third quarter of 2023 = $8.22 Billion USD which represents about $2.7 billion USD monthly

Again these are the total inflows. Normally every year we receive up to and more than 35 Billion dollars inflows. Out of these inflows what part was brought by foreign investors investing in Government bonds as well as remittances? You refuse to distinguish these for some reason. They use foreign exchange inflows interchangeably and you have to distinguish it.
It would be absurd for instance to believe Nigeria’s total FX inflow in February is 1 Billion dollars. I believe even Uganda gets more than that monthly as total FX inflows.

GeneralDae:
Again these are the total inflows. Normally every year we receive up to and more than 35 Billion dollars inflows. Out of these inflows what part was brought by foreign investors investing in Government bonds as well as remittances. You refuse to distinguish these for some reason. They use foreign exchange inflows interchangeably and you have to distinguish it.
It would be absurd for instance to believe Nigeria’s total FX inflow in February is 1 Billion dollars. I believe even Uganda gets more than that monthly as total FX inflows.

The word "total" is not necessary and that's why it's not in the CBN report. If the CBN was announcing figures from only a specific segment, it would have explicitly stated it. Since you have decided to disagree with the CBN data, show us your own data as an educated person. We don't do children's play here. If you have zero data, then rest

socialmediaman:
Since you have decided to disagree with the CBN data, show us your own data as an educated person. We don't do children's play here. If you have zero data, then rest

You don’t understand CBN data. Read CBN data again. Are exports included there? This 1.5 Billion dollars in March and 1 Billion dollars in February exclude exports, FDI’s and stuff like that. What you read in CBN data is for total inflows. We don’t know total inflows for first quarter 2024 yet but we know the foreign portfolio investments and remittances.

socialmediaman:
The word "total" is not necessary and that's why it's not in the CBN report. If the CBN was announcing figures from only a specific segment, it would have explicitly stated it. Since you have decided to disagree with the CBN data, show us your own data as an educated person. We don't do children's play here. If you have zero data, then rest

I follow FX turnover weekly vis a vis our reserves. This past week, FX turnover alone was around 1.7 Billion dollars and the previous week it was 1.6 Billion dollars. We never saw these kind of net turnovers in the entire 2023.

GeneralDae:
You don’t understand CBN data. Read CBN data again. Are exports included there? This 1.5 Billion dollars in March and 1 Billion dollars in February exclude exports, FDI’s and stuff like that. What you read in CBN data is for total inflows. We don’t know total inflows for first quarter 2024 yet but we know the foreign portfolio investments and remittances.

CBN explicitly stated that Foreign Exchange inflows for March 2024 was over $1.5 billion. You're looking for the word "total" which the CBN doesn't use in its reports and which is not necessary because it's the actual total forex inflow from various sources for the month of March

GeneralDae:
I follow FX turnover weekly vis a vis our reserves. This past week, FX turnover alone was around 1.7 Billion dollars and the previous week it was 1.6 Billion dollars. We never saw these kind of net turnovers in the entire 2023.

You follow all these, yet you thought the total FX inflows for the entire 2023 was $3.9 billion?

https://www.reactiongifs.com/r/dis3.gif

socialmediaman:
Wrong analogy. If a company CEO takes over a billion dollar company and runs it to the ground within a short period of time which leads to investors losing their money, if the company starts making slow progress, does the CEO start celebrating as the hero (propaganda), or does he shut up and continue working till he gets the company back up to at least where it used to be before he took over?

How about the fact that a NEW CEO took over from a previous CEO who made wrong policies that ran down the company's resources .

Raylight2:
How about the fact that a NEW CEO took over from a previous CEO who made wrong policies that ran down the company's resources .

The new CEO was also the chairman of the board when the former CEO was making wrong policies, and while this was happening, the new CEO lied to shareholders for 8 years that the former CEO was doing a good job, only to replace him and run the company to the ground further.

helinues:
Some of them are becoming a witch with their continuous hatred over any good news about Nigeria.

How many good news about Nigeria did you and your useless Tinubu and ronu elements like during Goodluck Jonathan's administration?

The thing is that you disgusting creeps think you are smart. Your Tinubu thinks because he has money and has used propaganda to achieve his demonic agendas for over a decade, he will still use shameless people like you to continue deceiving Nigerians.

You are mistaken. We will NEVER allow your stupid ronu propaganda to take root.
Someone pointed your attention to the very specific fact that the forex inflow even as far back as 2019 was higher than what you and your useless ronu headed CBN is celebrating now, yet all you have to spew is absolute garbage.

You all will waste your time. The billions deployed by your useless Tinubu for propaganda through jobless social media derelicts like you would be in vain.

hedonido:
How many good news about Nigeria did you and your useless Tinubu and ronu elements like during Goodluck Jonathan's administration?

The thing is that you disgusting creeps think you are smart. Your Tinubu thinks because he has money and has used propaganda to achieve his demonic agendas for over a decade, he will still use shameless people like you to continue deceiving Nigerians.

You are mistaken. We will NEVER allow your stupid ronu propaganda to take root.
Someone pointed your attention to the very specific fact that the forex inflow even as far back as 2019 was higher than what you and your useless ronu headed CBN is celebrating now, yet all you have to spew is absolute garbage.

You all will waste your time. The billions deployed by your useless Tinubu for propaganda through jobless social media derelicts like you would be in vain.

Fyi, I supported GEJ through out his first term..

You wasted your time writing that jargons on false belief

socialmediaman:
You follow all these, yet you thought the total FX inflows for the entire 2023 was $3.9 billion?

https://www.reactiongifs.com/r/dis3.gif

The total FPI’s in 2023 was 3.9 Billion dollars. I have given you Reuters, NESG, and Nairametrics that state that already.
When I followed FX turnover in 2023, it was so poor. The daily average turnover was over 20 to 30 Million dollars. Yet this March we get over 100 million dollars on a steady. On Thursday alone we did around 850 million dollars. Last time we did something close in a single day was in June 2022 where we did around 760 million dollars.

socialmediaman:
The new CEO was also the chairman of the board when the former CEO was making wrong policies, and while this was happening, the new CEO lied to shareholders for 8 years that the former CEO was doing a good job, only to replace him and run the company to the ground further.

How was the new CEO chairman of the board when he was shut out of the corridor of power? Have you forgotten how you mocked him then?

helinues:
Fyi, I supported GEJ through out his first term..

You wasted your time writing that jargons on false belief

we know APC pays you to defend them.
Keep defending rubbish you will die untimely ..

predictor1:
How was the new CEO chairman of the board when he was shut out of the corridor of power? Have you forgotten how you mocked him then?

He campaigned for the former CEO to be re-elected despite being a disaster, you forgot to add that part. He was shut out of power when he wanted to replace the former CEO who had his own candidate

socialmediaman:
He campaigned for the former CEO to be re-elected despite being a disaster, you forgot to add that part. He was shut out of power when he wanted to replace the former CEO who had his own candidate

He was shut out during buhari's first term and second term. You all rejoiced then. I remember how you danced around because emefiele hoarded naira notes then thinking Tinubu's ambition was over. You said his hands and legs were shaking yet he was shouting emilokan. Has God not shamed you people enough? Your new practice now is to wish him failure. That's something God again will turn to blessings for the country. But others will not forget your treachery. When you bring out a candidate next time others will work against him also.

predictor1:
How was the new CEO chairman of the board when he was shut out of the corridor of power? Have you forgotten how you mocked him then?

corupt criminal like you being paid to defend wack leaders