Dreamword24:
Why exactly are they defending the naira? The should leave the market force to determine it.

BLINGZ88:
its not like cbn is dashing the money to banks, they sell it to them to reduce demand. it is not a good solution and I believe that the naira should be allowed to float. this government should forget their promise of #1 to $1 and try to act positively for the economy.

RZArecta:
Float the dollar just like the Egyptians did, allow investors bring forex into the economy. 9 billion dollars could have built a lot of infrastructure but no, herdsman intelligence.

9japrof:


Brotherly lest tell ourselves the truth, if they allow the true value of naira, guy it would be nothing less than 800 naira, would it be better then?

BLINGZ88:
its not like cbn is dashing the money to banks, they sell it to them to reduce demand. it is not a good solution and I believe that the naira should be allowed to float. this government should forget their promise of #1 to $1 and try to act positively for the economy.

emmyspark007:
1Naira = 1Dollars



God punish all those senseless bastardized zombies that were always shouting "Sai Baba". We warned about apc being clueless and how buhari wasn't qualified in all ramifications yet them talk say even if buhari bring electricity bill as certificates dem go still vote am. Sai baba the messiah. Unfortunately them go still re elect am

Zombie o zombie

0m0nnakoda:
What does that term mean "TRUE VALUE"

RZArecta:
Float the dollar just like the Egyptians did, allow investors bring forex into the economy. 9 billion dollars could have built a lot of infrastructure but no, herdsman intelligence.

0m0nnakoda:
So if the naira floats won't the CBN sell dollars? They still have to sell. The truth is the Naira is just a CBN debt to those who have naira in their pocket.If the CBN cannot defend its debt it becomes valueless and people will even ask to be paid with goats and rice rather than in Naira. In short the foreign reserves belongs to those carrying naira in their account.Your share of the foreign reserves relates to your share of the total naira in circulation. If you cannot get it when you want it the Naira has no meaning
Peole fail to grasp that concept: Naira is a CBN debt or promise. People belive that promise based on the size of foreign reserves

Tenkobos:
Zombies are not interested in what is being done with this year's budget. They believe that proscribing Ipob will make Nigeria a world power in 2020

voicelez:
Buhari is a terrorist

9japrof:


What I mean by true value, is the value the naira would become without government interference, the value it becomes just when the market forces determines the price

BLINGZ88:
its not like cbn is dashing the money to banks, they sell it to them to reduce demand. it is not a good solution and I believe that the naira should be allowed to float. this government should forget their promise of #1 to $1 and try to act positively for the economy.

SBG04:

I this idea of market forces is just a romantic kumbaya economic model that doesn't hold water. Even the Chinese rig their yuan to be competitive against the dollar. The naira has been living off dollar hangouts since the oil boom years of the 70's. More than 2 generations of Nigerians have been raised on imported goods. You can't wake up In 2017 and suddenly remove the dollar life support from the economy in the name of market forces and in a regime of low oil prices. The naira will crumble to more the N2000 to the dollar because, let's face it, there is no other source of forex supply to the economy than oil. And we certainly can't use our entire petrol dollars to fund imports. So this CBN intervention will continue till we're able to create sufficient supply to match the demand for dollars. Then we can let market forces determine price. But doing that now is like going for a war you haven't prepared for. You will be outwitted on all fronts and decimated.

It expressed worry that only 10 per cent of the N7.4 trillion 2017 budget has so far been implemented barely three months to the end of the year.

BLINGZ88:
its not like cbn is dashing the money to banks, they sell it to them to reduce demand. it is not a good solution and I believe that the naira should be allowed to float. this government should forget their promise of #1 to $1 and try to act positively for the economy.

Joejonah:


Well said senator. No problem can be solved with lies. APC kept telling lies, the situation of the country keep going worse. Lets stop propaganda and go back to the drawing board. Mismanagement is as worse as corruption.