₦airaland Forum

Decryptor:
How do you mean? You are seeing something there koro-koro and you are asking if it is real?

Sorry. I went through the website and it's as real as daylight.

An economist is different from an accountant, its just sad that a man with ph.d couldn't understand that and some people will still blame PMB. Nigeria entered into recession 2014, that was where sanusi was driving at before he was removed. Our brother from the south keep hating buhari when your brother brought us into the mess. Now why it never showed that nigeria was in trouble was because jonathan brought out money to cover it up, forex reserve kept depreciating and we import more than we export, you will say $1 was equal to #197 then, but emefiele maps out the policies not buhari, emefiele policies allowed for much speculations, making seller hoard the dollar till they were able 2 reach that high price in the parallel market, like sanusi said CBN created an avenue for the rich to buy dollar at 197 and keep it for some time only to sell at 465+, is that the fault of buhari? Emefiele is incompetent, the only thing I fault jonathan's administration for is this appointment, its time we as nigerians look beyond tribalism and call a spade a spade. Emefiele really needs to go, if he doesn't mehn, recession is just startin

Bubu can't give what he doesn't have. He's lost himself.

uboma:
the Nigerian economy is in ruins and you dare ask your silly question?

Off course I expect you to start insult when you have nothing in your brain as to how she is the cause of the situation we are now.

NaijaMutant:
Shut up!!!

Nothing could be worse as having an illiterate cattle rearer as a president

keep quite, president Buhari is more educated than you. You keep bragging, I can place a bet that ur certificate u obtain from secondary school to institution is not all your effort. When oil was so high, d previous government under Gej and d so called world bank expect as co-ordinating minister could not diversify d economy and when oil started falling in 2013, they couldn't give complete revenue to various states and contractors was owned and that was the reason you see abadoaned projects in different sectors because d president then was afraid of taking money from foriegn reserve, having knew that it has been depleted by him, instead of increasing it since there was oil boom and infrastructures was not upgraded to match what has gotten from oil sales. You should ask urself how come when Buhari was sworn in about 27 state governors including pdp states were all granted bailout and even oil rich states like bayelsea and co benefited cos they couldn't even pay regular salaries. High price of oil sales drove the economy under Gej not their economic policy.

uboma:
Emiefiele has since displayed his lack of expertise in managing the economy as the head of the CBN.

He and the Minister of Finance, Adeosun, should be sacked from office and competent hands be allowed to take their roles.

welll let us be mindful of our demands. Let it not end up like from frying pan to fire. Like goodluck regime compared to d present. There s no quick fix any where

Lol, keep wasting your time on Emefiele instead of directing your frustration to Buhari. Fear fear people. How can emefiele order DSS to raid BDC? such orders can only come from the president. same with other policies

To be honest the man is a joke. He is a banker not an Economist. Living in America, and lucky enough to have visited Mexico on few occasions. Mexico and Nigeria are very similar in two areas. Both countries are oil exporter. Oil account of a larger percentage on their GDP, and lastly both countries has large portion of their population living in poverty. Remittance by Mexicans living in US is a major source of foreign exchange for the country second only to oil receipt. Mexicans are paid in dollar in Mexico when receiving remittance, they can then go to any Bureau de exchange to exchange the money to their local currency (Peso). This process has helped in stabilizing their currency against the dollar because it makes dollar available for their small business owners that needs dollar for business. The situation in Nigeria when it comes to remittance, is completely different. Every one knows that the black market is most Nigerian source of Dollar, but CBN policy of paying the receiver at locally designated rate has indirectly create shortages of dollar within the black market. This has in turn has led to higher rates, just simple supply and demand at work here. Getting rid of this policy conservatively will lower the exchange rate by 80 basis point. example 440 rate will come down to about 360 within the black market structure. The current situation benefits only the banker, they get remittance dollar at a lower rate of 300 - 320 then turn around and sell to BDE at 400. The BDE then turn around and sell to the public at 440 - 460.

basilo102:
Lol, keep wasting your time on Emefiele instead of directing your frustration to Buhari. Fear fear people. How can emefiele order DSS to raid BDC? such orders can only come from the president. same with other policies

Please tell me what policy has Buhari initiated that would have affect the Dollar/Naira rate. My brother I am open for discussion, but not propaganda.

[size=18pt]BIhari or whatever should sack Emefiele and let us hear word!!!
msheww!

Good riddance![/size]

mayoor15:
An economist is different from an accountant, its just sad that a man with ph.d couldn't understand that and some people will still blame PMB. Nigeria entered into recession 2014, that was where sanusi was driving at before he was removed. Our brother from the south keep hating buhari when your brother brought us into the mess. Now why it never showed that nigeria was in trouble was because jonathan brought out money to cover it up, forex reserve kept depreciating and we import more than we export, you will say $1 was equal to #197 then, but emefiele maps out the policies not buhari, emefiele policies allowed for much speculations, making seller hoard the dollar till they were able 2 reach that high price in the parallel market, like sanusi said CBN created an avenue for the rich to buy dollar at 197 and keep it for some time only to sell at 465+, is that the fault of buhari? Emefiele is incompetent, the only thing I fault jonathan's administration for is this appointment, its time we as nigerians look beyond tribalism and call a spade a spade. Emefiele really needs to go, if he doesn't mehn, recession is just startin

What really scared away investors is unpredictability policy of the CBN. When you said that there won't be any currency devaluation, then turn around with one month and devalued the currency that sent a bad signal to the market, especially to the bond market. Bond market sets interest rates money borrow by individual or country. Fear factor is a negative vibe to the bond market. If there is one thing businesses likes is predictability, businesses don't like surprises. Businesses likes to plan out 2 - 3yrs into the future, when policies makes that impossible that ain't good policies. Same thing is already happening in the USA after this election. If you want to know what the economy will look like, just follow the bond market. Rising yield means rates are going up.

it's too bad the FG can't bring back

[img]http://1.bp..com/-jxpvTp_VWLs/TtZRsYwI5qI/AAAAAAAABB0/ahIOmUXZRNA/s320/0sanusi-lamido-forbes-africa-cover%252Byeoal%252Bblogspot.jpg[/img]

bonechamberlain:
Stories, he doesn't want to create more panic and crisis. What is worse than the panic and crisis we are into now. "He doesn't want to send wrong signals to foreign investors" I wonder if the signals the foreign investors are seeing now are the right signals.

Buhari is incompetent, the CBN Governor is about to be blamed for Nigeria woes.

Oga buhari embrace competency and both CBN, finance, power and other ministries would follow. When the head is incompetent i wonder what would happen to others.

Pure emotions of a wailer. Please receive sense my friend

Buhari does not have the power to sack Emefiele. That power resides with the Senate.
When you GEJites were cheering on Sanusi's removal and the appointment of Emefiele, you didn't know, abi?

Thunder fire the person wey go blame Buhari for this Emefiele debacle!

uboma:
Emiefiele has since displayed his lack of expertise in managing the economy as the head of the CBN.

He and the Minister of Finance, Adeosun, should be sacked from office and competent hands be allowed to take their roles.

You probably have a point but I don't think that Buhari has given them the autonomy required to do their job. My suspicion is that he is the one making all the decisions or he is overriding their own decisions.

davidif:
You probably have a point but I don't think that Buhari has given them the autonomy required to do their job. My suspicion is that he is the one making all the decisions or he is overriding their own decisions.

By all means then let them resign honourably so that it will be on history that they resigned because they were prevented from performing their professional roles. No one is pointing a gun to their heads to remain a puppet....

Until then, Emiefiele and Adeosun (madam budget support) are incompetent and should have since been dismissed from office.

Nnew:
If you can resist the urge of joining MMM in this recesion, There is no temptation you can’t overcome in this life. Even if you are locked in a room with 10 beautiful stripers, my brother I know you will overcome

Hilarious but it contains an element of truth...

uboma:
By all means then let them resign honourably so that it will be on history that they resigned because they were prevented from performing their professional roles. No one is pointing a gun to their heads to remain a puppet....

Until then, Emiefiele and Adeosun (madam budget support) are incompetent and should have since been dismissed from office.

You have a point. In some other countries, when the boss constantly interferes with the minister of finance they just resign because this could affect there resume.

NaijaMutant:
Shut up!!!

Nothing could be worse as having an illiterate cattle rearer as a president

you forget that buhari alone cannot be everywhere at the same time, he needs people with various capabilities to succeed. To be factual emiefele is the worst fomulator of monetary policy in the history of this country

AnanseK:
Pure emotions of a wailer. Please receive sense my friend

pure statement of a ZOMBIE. Please receive more sense

The dumb nomad must sack himself too!