₦airaland Forum

TonyeBarcanista:
It is unfortunate that Buharists are determined to turn truth on its head and deceive Nigerians.

While the immediate past administration made some forecast using the projected oil price, it implemented a lot of policy that will promote local production, encourage export and less dependency on import thereby acting as a tool to help sure the naira. The CBN monetary policy would have been complimentary and not primary to see that the naira don't drop to the most embarrassing state . The defeat of Jonathan at the poll means that Nigeria were expecting a new economic direction, this expectation also applies to investors. Unfortunately, since May 29, no single policy direction came coming from the Federal government leaving the CBN to implement the craziest and most insane monetary policy just to 'defend' the naira. Let us recall that the CBN Governor some weeks back decried the absence of fiscal policy from the government as a major challenge. Till date, non has been forthcoming. No Economic team in place.

Investors are worried that the crazy manipulation of the FX by CBN cannot be accepted in any sane clime. The JP Morgan index were simply saying that 'hey, play by the rules. Stop manipulating FX and get economic team on board/fiscal policy". Whether the effect of the ruke will make Nigeria naira depreciate to N300/$ is not the fault of JP Morgan but the clueless Buhari administration. We also need to agree that the present state of the naira is a false state. The real value of the naira is about N300-350/$. So why can't we do the right thing by doing what is proper and boost investor's confidence? If investors run away from our bonds, is it alien that will come in? JP Morgan delistment means we will lose prospect as well as lots of existing investors. This means economic trouble, job loss and its resultant effect.

Please @OP, stop blaming GEJ and NOI because they have nothing to do here. For the record, NOI announced austerity in the face of oil drop price in 2014 and never said Nigeria will suffer.

They didn’t even made any forecast, NOI strategy was to start taxing Nigerians to correct the deficit. Whatever policy they were implementing for 6 years clearly didn’t work if naira hits 220/$ at the parallel market before they left office.

Do you even realized that in this situation the people we need are the 9 member momentary policy committee (MPC)? Do you even know economic policy were been formulated and in their meeting in July they decided to leave interbank interest rate at 13 percent? Even though two of the member disagree in August with CBN FOREX restrictions, it wasn’t formally stated.

All the countries that were listed with Nigeria has been delisted, including Malaysia, Russia about to. None of them is marking huge noise about it because they understand the consequence of bowing to JPMorgan demands. We don’t need foreign investors to siphoned whatever is left of us, we needs investors that are genuinely committed to struggle of the Nigerian people not at the detriment of us.

This a link to where NOI said we should brace off for hard times.
http://newsrescue.com/broken-looted-economy-get-ready-suffering-ngozi-iweala-tells-nigerians/#axzz3le60dF8r

I think what is needed is to make this analysis apolitical.
It should be less of GEJ vs PMB.
GEJ did his best and there were some lapses. PMB needs to have a team and quickly provide fiscal policy. What we have prevailing has been more of Monetary policies by CBN/MPC. We need clear Economic Direction. JP Morgan was to bring in FDI, which really came in droves after the listing. Purpose, for me, was achieved.

Truth234:
They didn’t even made any forecast, NOI strategy was to start taxing Nigerians to correct the deficit. Whatever policy they were implementing for 6 years clearly didn’t work if naira hits 220/$ at the parallel market before they left office.

Do you even realized that in this situation the people we need are the 9 member momentary policy committee (MPC)? Do you even know economic policy were been formulated and in their meeting in July they decided to leave interbank interest rate at 13 percent? Even though two of the member disagree in August with CBN FOREX restrictions, it wasn’t formally stated.

All the countries that were listed with Nigeria has been delisted, including Malaysia, Russia about to. None of them is marking huge noise about it because they understand the consequence of bowing to JPMorgan demands. We don’t need foreign investors to siphoned whatever is left of us, we needs investors that are genuinely committed to struggle of the Nigerian people not at the detriment of us.

This a link to where NOI said we should brace off for hard times.
http://newsrescue.com/broken-looted-economy-get-ready-suffering-ngozi-iweala-tells-nigerians/#axzz3le60dF8r

sholatech:
I think what is needed is to make this analysis apolitical.
It should be less of GEJ vs PMB.
GEJ did his best and there were some lapses. PMB needs to have a team and quickly provide fiscal policy. What we have prevailing has been more of Monetary policies by CBN/MPC. We need clear Economic Direction. JP Morgan was to bring in FDI, which really came in droves after the listing. Purpose, for me, was achieved.

You are right but a lot won't stop making it apolitical. Sorry, the purpose for me wasn't achieved if it can not be sustained and now we have to pay hefty fine for that poor economic decision.

Truth234:
They didn’t even made any forecast, NOI strategy was to start taxing Nigerians to correct the deficit. Whatever policy they were implementing for 6 years clearly didn’t work if naira hits 220/$ at the parallel market before they left office.

Do you even realized that in this situation the people we need are the 9 member momentary policy committee (MPC)? Do you even know economic policy were been formulated and in their meeting in July they decided to leave interbank interest rate at 13 percent? Even though two of the member disagree in August with CBN FOREX restrictions, it wasn’t formally stated.

All the countries that were listed with Nigeria has been delisted, including Malaysia, Russia about to. None of them is marking huge noise about it because they understand the consequence of bowing to JPMorgan demands. We don’t need foreign investors to siphoned whatever is left of us, we needs investors that are genuinely committed to struggle of the Nigerian people not at the detriment of us.

This a link to where NOI said we should brace off for hard times.
http://newsrescue.com/broken-looted-economy-get-ready-suffering-ngozi-iweala-tells-nigerians/#axzz3le60dF8r

I'm not cut for back and forth irrelevant argument. You don't seem to understand the subject with due respect.

*At first, they claimed the action by JP Morgan was solely the fault of GEJ
* Later they claimed it was due to the attempts of aggrieved western colonial investors to control our economy
* When that was squashed, they moved to, it was a brave attempt by our apex bank and the FG to stand up toJP Morgan
* Now, they are claiming it was even wrong to have gotten enlisted in the index in the first place

Look at how economics is being murdered in this administration. what will they come up with tomorrow.

stickncarrot:
APC still blaming GEJ for their woes. Simply put, GEJ is still the president of Nigeria

Start studying the politics of other countries. In the US, the Republicans and the Democrats blame each other over their economy.

TonyeBarcanista:
I'm not cut for back and forth irrelevant argument. You don't seem to understand the subject with due respect.

With over 9 years as a Financial Market trader, you are a kid. The truth is economic matter is beyond your understanding, sorry, you know nothing about financial markets or economics.

OrlandoOwoh:
Start studying the politics of other countries. In the US, the Republicans and the Democrats blame each other over their economy.

Republican blame democrats and not Obama blaming te Rublicants for his woes. Republicants still have a say in Obama's decision been as opposition party.

Everybody forming economic analyst, even dis op!