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Nairaland Forum / Nairaland / General / Politics / No Short Cut To Naira Appreciation, Says Ned Nwoko (24215 Views)
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Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by kokakola: 5:16pm On Apr 28 |
Nigerian has intelligent people, our problem is taking positive advantage of the intellectuals that floods our nooks and crannies. 2 Likes |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by MVLOX(m): 5:17pm On Apr 28 |
Oya tell give us suggestions Sir |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Menclothing1: 5:18pm On Apr 28 |
You are a senator which company do you have ? You still send your children abroad and steal to pay fees in dollars If all Nigerian politicians have a business that Employ thousands in Agriculture this country will be better No be by taking show workings |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by 7upnigeria: 5:19pm On Apr 28 |
michlins: Lol, you think he became rich by being stupid. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by SmartyPants(m): 5:20pm On Apr 28 |
michlins: He was talking theory. In reality who will buy your naira denominated oil? No one! 2 Likes |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by peterboro: 5:23pm On Apr 28 |
Let them keep deceiving themselves with their "fire brigade" lies! |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Gr8mind07(m): 5:25pm On Apr 28 |
Whatever measure the CBN is taking now is just a necessary stopgap until.the government get things right |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by InvertedHammer: 5:25pm On Apr 28 |
/ Ned knows that his suggestions won’t work because the economic blueprint of Nigeria is handed down by the colonialists via IMF, World bank. Why do you think Nigerian politicians find it more important to go to Chatham house than engage in public debate in Nigeria? US dollars is the world reserve currency. Nigeria cannot dictate what currency to sell their oil when they do not control oil price and the market. Sometimes they find it difficult to find buyers. 1% control the country. 4% are their puppets. 90% are asleep. 5% know and try to wake the 90%. The 1% use the 4% to prevent the 5% from waking the 90%. This scenario is obtainable in politics and religion. It is the world’s comfort zone. / |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Danfel: 5:27pm On Apr 28 |
According to him, as a nation that exports crude oil and other commodities globally, it is imperative that all transaction on these items be conducted exclusively in Naira. For me this is what I always tell people must we trasact in dollars, imagine the resent news about Yaya bello, how can a school or any organization within be transacting in another country currency and thereby killing their own. 1 Like 1 Share |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by ellizy(m): 5:27pm On Apr 28 |
michlins:Forget am bro, all this thing, dem dey write am give person to present... |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by sonnie10: 5:28pm On Apr 28 |
Assuming Nigeria was free from debt or at least have a favorable balance of trade, then this might work. But Nigeria need to prove that it can back debts or at the minimum the interest on those external debts. Remember also that Nigeria like to borrow and are still borrowing. Which creditor would give money to a country on life support? If foreign reserve is depleted, it will affect the local currency. These reserves are used for direct financing of international payments imbalances. It is a buffer or prove of confidence to pay international debts. There are also used for indirect regulation of the magnitude of such imbalances through interventions in foreign exchange markets. This is where it becomes tricky because a lower reserve would affect the exchange rate of the country's currency. 1 Like |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by ellizy(m): 5:29pm On Apr 28 |
SmartyPants:Thank you! It doesn't work that way... Even the looters want more of dollars transaction to loot... Economy instability in Naija doesn't affect the elite, they cashout real big |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Pclemenza: 5:29pm On Apr 28 |
Indabosky “the liquid metal” is back, dollar will fall against the Naira. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by BondRiv: 5:31pm On Apr 28 |
Politicians are part of the problem. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by madjune(m): 5:33pm On Apr 28 |
A hopeless economic team. The Nigerian economy would have rebounded a long time ago if the goodwill was there. Have you asked yourself: In what ways have they taken advantage of the Ukrainian war ever since it started, to shore up our export earnings? That's, besides crude oil? Ukraine is known to supply 70% of the world's wheat and other food commodities; has our economic teams bothered to look into this and see ways of taking advantage of Ukraine's time off from activities? The answer is NO. The black man is always busy looking for short cuts. 1 Like |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by ClearFlair: 5:36pm On Apr 28 |
TouchNfollow: They're busy paying school fees with billions 🤦🏿♂️🤦🏿♂️ |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Badmashiii: 5:38pm On Apr 28 |
Sermwell: I think you are the stupid one here. Do you really believe the mass determine who gets elected in any major political post in this country? If you like contest from now till your death if you have no strong political and monetary backings,you shall never smell the corridor of power in this country. You think the masses make tinubu or buhari the president? Or you believe the masses unsit Jonathan? Bro better wake up from your self-delusions. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by BeigJawnson(m): 5:40pm On Apr 28 |
SouthSouth1914: Saving in dollars is personal decision and how is that in the matters that concern the nation? |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by BeigJawnson(m): 5:42pm On Apr 28 |
federalgodey: Grow but you say no... At your age, still reasoning like a baby. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by CodeTemplar: 5:46pm On Apr 28 |
“This will incentivise buyers to seek out Naira, thereby driving its appreciation due to increased demand and scarcity.Still same thing. If a buyers of crude has to buy naira to buy crude he will be relinquishing his own currency and that is forex. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by wildernessVoice: 5:48pm On Apr 28 |
What do you expect...? When the head is rotten then the whole body is already decomposed. * Only in Naija someone takes cash in Bullion van. * Only in Naija, someone buy his way to power with Dollars. 1 Like |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by bcomputer101: 5:49pm On Apr 28 |
Macdeey: You should find something meaningful to do with your life. This is not funny at all. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Skillsnigeria: 5:52pm On Apr 28 |
Okay |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by seunlayi(m): 5:53pm On Apr 28 |
ifytrik:So what's your point? The issue is ₦ not Ned 1 Like |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by 080bjaked(m): 5:54pm On Apr 28 |
Says one of the people actually responsible for its fall. Jokers. |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by SouthSouth1914: 5:54pm On Apr 28 |
BeigJawnson: Can’t explain to someone who doesn’t get. Thank you and move along! |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by wildernessVoice: 5:55pm On Apr 28 |
Melagros: Those benefiting from our economic woes are mute on naira land. When the head is rotten, the whole body is already decomposing. * Only in Naija, an individual carry cash in Bullion van * Only in Naija, someone spread dollars all over the country just to ascend the seat of Power. 1 Like |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by unbiased2021: 5:55pm On Apr 28 |
federalgodey: Did he marry a minor? |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by Sermwell(m): 5:56pm On Apr 28 |
Badmashiii:Who are the hired tugs who go to disrupt the election process?? Who are hired protesters in favour of the thieving politicians?? Who are those who come online and offline to defend the government?? ![]() ![]() You're still living in denial but your eyes go soon clear ![]() ![]() |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by bdon123(m): 5:56pm On Apr 28 |
TouchNfollow:So Ned is this intelligent n knows d right thing n still he dey pursue virgins around d globe |
Re: No Short Cut To Naira Appreciation, Says Ned Nwoko by c900: 5:57pm On Apr 28 |
I thought they said when Dangote start selling it will ease pressure on naira, that they are using a big percentage for importation of petrol, diesel. I dey surprise for this country o. 1 Like |
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