₦airaland Forum

niyyie:
Is the Central Bank that independent? Whoncontrols the central bank?

ogene007:
I think the more intelligent question to ask is what the money has been spent on. A man who prides himself in having saved a lot of money in the bank while his family are starving cannot be said to have achieved anything spectacular. It is the one who is able to improve the lives of his people by investing in their education, feeding, infrastructure (railways, Power Supply etc), etc , that can be said to have managed the resources better. There has been no evidence of your Jihadist 'messiah', GMB, doing anything meaningful for the pas 30 years after being kicked out of power. It should worry you that you are committing so much of your useful time and resources in propagating a non-achiever, whose only achievement was in organizing a coup, to foist on the nation an era of tyranny coupled with the abuse of basic rights of the citizens. It is not surprising that he was kicked out before he could complete his transformation into the new Idi Amin in Africa. Never again shall we allow a mediocre who in better climes, would be serving time in jail, to come and take over the nation. GMB should go back to the only vocation he was involved in, for the past 30 years after being kicked out of power which is the nomadic rearing of cows, for which his people and type are known for. GEJ till 2019.

Its nice how far we've come. Baba's beef with Jonathan must have to do with the fact that he can't "control" him, as we thought he would. I like how this looks like all ties have been severed with him. As for these allegations, maybe if baba had put in place effective checks during his own time and strengthened government institutions, he would not hve to worry about these things. Too bad his own government was also a failure

I wonder why people have forgotten when Jonathans government led by Okonjo was fighting against depleting the reserves. now the rainy days have come and everyone is removing the blame from themselves.

Even still, i think it is commendable that even with the economic issues, this government has been able to control inflation reasonably...if Nigerians look at other oil dependent nations they might see what I
mean.

End of story...this government has been slightly commendable.. people should accept at least the parts that are commendable and choose someone who can do better. Accusations like this are not helpful.

MOBJECTIVE:
The fact that he collects anything at all is wrong.

MOBJECTIVE:
Malaysia’s Foreign Reserves Fall 14 Percent to Lowest Since 2011

Anyone notice anything similar about the date 2011? Moving on, see if you also notice anything similar about the reason why


Malaysia’s foreign-exchange reserves dropped to the lowest level since March 2011, a sign the central bank may have intervened to stem a slide in Southeast Asia’s worst-performing currency.

The holdings fell 14 percent to $116 billion as of end-December from a year earlier, Bank Negara Malaysia data showed today. They declined 4 percent from the previous fortnight. The ringgit has weakened 10 percent since June and dropped to a five-year low of 3.5862 a dollar yesterday. It closed 0.4 percent higher at 3.5665 in Kuala Lumpur today.

A slide in global crude prices has put pressure on the ringgit, posing a revenue risk for oil-exporting Malaysia, which is seeking to lower the fiscal deficit to 3 percent of gross domestic product in 2015 from 3.5 percent.....

http://www.bloomberg.com/news/2015-01-08/malaysia-s-foreign-reserves-fall-14-percent-to-lowest-since-2011.html


Nigerians want a strong Naira and an untouched foreign reserve... we should all keep dreaming. The only reason reserves are going up again is because the naira has been devalued, which is the right thing to do at times like this: devalue your currency, pay off domestic debt, and continue capital projects.

J12:
Think before you talk. The "loot" was shared between your state governor and local government chairman. You are indirectly in the looting yourself. MUmu

ogene007:
I think the more intelligent question to ask is what the money has been spent on. A man who prides himself in having saved a lot of money in the bank while his family are starving cannot be said to have achieved anything spectacular. It is the one who is able to improve the lives of his people by investing in their education, feeding, infrastructure (railways, Power Supply etc), etc , that can be said to have managed the resources better. There has been no evidence of your Jihadist 'messiah', GMB, doing anything meaningful for the pas 30 years after being kicked out of power. It should worry you that you are committing so much of your useful time and resources in propagating a non-achiever, whose only achievement was in organizing a coup, to foist on the nation an era of tyranny coupled with the abuse of basic rights of the citizens. It is not surprising that he was kicked out before he could complete his transformation into the new Idi Amin in Africa. Never again shall we allow a mediocre who in better climes, would be serving time in jail, to come and take over the nation. GMB should go back to the only vocation he was involved in, for the past 30 years after being kicked out of power which is the nomadic rearing of cows, for which his people and type are known for. GEJ till 2019.

SeverusSnape:
In as much as I don't believe this(cause I know there is corruption in this government), The OBJ laying the accusation is also not a saint; non of them are. Did he not embezzle public funds himself?... Like I use to say, pot calling kettle black

MOBJECTIVE:
The fact that he collects anything at all is wrong.

ceejayluv:
6 years?... yaradua died in 2010. You folks have been screaming "6 years" since last year...
The explanation for our reserves dwindle has been explained in the OP, try to read that with an unbiased mindset...
I read it and as usual it made no sense. Are you not aware that crude oil reached its highest ever prices during Jonathan's regime?? So by simple logic our foreign reserves should have actually quadrupled by now!!!! The communique stated that the reserves were used for power equipment and to stabilize the Naira. For heavens sake the reserves were also used to stabilise the Naira during Obasanjo's regime BUT YET he still grew our reserves!!! As for power equipment that is a LAUGH!!! Is there any place in Nigeria that has stable power?? Just how much of the reserves was used??

As for BH.. Someone in the recent past said "Attack on boko haram is an attack on the North".. The same victims of BH were reluctant from the beginning to have a full military confrontation.. Those are the same APC northern sympathisers saying he did nothing...
Absolute rubbish!!! Are you saying that all of the innocent victims of Boko Haram did not want Boko Haram stopped? What has APC got to do with the government's inability to fight Boko Haram? Have you forgotten that our president repeatedly lied to us that the Chibok girls were NEVER kidnapped??

Pls name the BH sponsors that were protected..
The president HIMSELF said he knows the people that are behind Boko Haram in high places and yet NOT ONE of them has been prosecuted!! Ali Modu Sheriff was fingered as a Boko Haram sponsor but yet he was never investigated and your president dined with him in Chad!!!

Our Transparency international rating is inconsistent with your "most corrupt government" claim...
Our Transparency International rating puts us as the 136th most corrupt nation out of 175 countries. Obviously that is a pass mark in your dictionary. I am curious as to which government you think was more corrupt than Jonathan's government

jpphilips:
Pension is wrong, which village please?

vicadex07: He for come your papa house come dey collect money to chop.

aurenflani: What is this one saying
How old are you sef

jpphilips: In your submission we rather give OBJ third term than give Jonathan a chance right?

It is called "LIP SERVICE" in English language, this incompetent govt did not see it coming.

What do you know about oil dependent economies and their savings? Every mediocre loves Jonathan, not your fault, how am I sure you are not a failure in your own private microcosm?

Every dumb person says this, did one not say that stealing reserves isnt corruption?

bakynes:
To me you and your likes are just stating paper achievements. To the question is this enough achievement in 6 yrs?

MOBJECTIVE:
The fact that he collects anything at all is wrong.

ooshinibos:
moneY spent on power sector and we still have No electricity ...wow GEJ !!!!!!!!!!!!

babestella:
Can you tell us how much that has been spent on power sector by GEJ, I'd like to know.

MOBJECTIVE:
It would not be wrong if it were just pension. The person who i quoted wrote this:

"All heads of states collect on the average 23 million Naira every month, apart from General Muhammadu Buhari. He (General Buhari) objected to collecting most of the allowances,insisting they were bogus and therefore amount to corruption."

I dont know any other country that pays former heads of state the same salary as a head of state, or gives them allowances, which is what i infer from this post. This means mr buhari can collect what he is entitled anytime he wants so his current actions are cheap: collect what i feel right and leave corruption to fester, which is wrong. Ignoring corruption is wrong.

I hope you get my post now.

jpphilips:
Malaysia is the 29th oil producer in the world (886,000bbl/d), Nigeria is number 13 (2.5mbbl/d).
A producer at 29th position have a reserve of $116b after the slide (according to your facts), meaning it was higher before then, the 13th producer has $4b left after a slide with huge debt profile, are you not supposed to be ashamed of yourself?
It is only a f00l, mediocre and a m0r0n that doesn't feel cheated when it is pretty obvious.

vicadex07:
Are u a Nigerian, cos I sinecerely don't understand u. You mean ignoring millions of Naira is a very cheap thing that anybody can do. Why your papa no donate the meagre thousands he is collecting to the poor and needy before judging someone who has decided to forego millions so as to set a good example

MOBJECTIVE:
*scoffs* "set a good example?" If ignoring corruption is setting a good example the idea of a good example has been bastardized. An example of a good example is Achebe turning down his national award ENTIRELY and TWICE in protest of the corruption that was going on in his home state, Anambra, which was supported by Obasanjo.

If Buhari wants to form mr incorruptible:
1) he shouldn't partake at all in what he himself termed corrupt

2) he could have taken concrete steps to stop what he termed corrupt, by possibly sponsoring a bill to stop it

3) most importantly, he should not ignore corruption.

Otherwise, he should take the money and stop being a hypocrite.

Btw, what does my father have to do with this discussion?

MOBJECTIVE:
I could tell you how Malaysia has a larger and more DIVERSE economy than we do, and why this is part of the reason they have much larger foreign reserves, but I will not. You should ask yourself why we have just $4 billion and if is possible to solve the problems that got us to that amount in just under five years.

The foolish, mediocre and moronic one is the one who thinks the problem is as simple as stealing.

sevule:
The answers to your questions are simple and are given below.

You should ask yourself why we have just $4 billion?

Simple. It is because the current government is incredibly corrupt and mismanaged the funds. Don't forget that our government has not told us what they did with the excess funds that accrued to Nigeria as a result of high oil prices neither have they accounted for the missing $20 billion

If is possible to solve the problems that got us to that amount in just under five years?

YES!YES!YES!YES!YES!

You do not need 100 years to solve Nigeria's problem!!! All you need is a strong leader that would fight corruption and who is not afraid to implement a solid plan for Nigeria's development. Our power problems can be solved in less than 4 years. Even the issue of fuel scarcity and subsidy can be solved in less than 4 years. Anybody that CANNOT solve Nigeria's problems to an appreciable extent within 4 years CANNOT solve them if given an additional 4 years

vicadex07:
So u mean collecting his pension is corrupt abi.

Let me school you with a scenario

A student is to pay 20,000 for fees and asks and collects 20,000 from his parent compared to his classmate who instead of collecting 20,000, demanded for and collected 150,000 at home for the same school fees.

Who is corrupt and dishonest amongst the two. If u had a business, who would you like to entrust it to amongst the two.

Or maybe you mean the student should forego his\her fees in order to proove all righteousness to his\her parents