Ibrahimanees:

keep daydreaming.
Doesn't work like that, external reserves are there in case of economic emergency like recession. Ours depleted because CBN kept using it to intervene in forex to keep naira strong.

Odunayaw:
Ibro(if permitted). Can't something be taken from the Excess Crude account. The official benchmark is about some $20 below what is selling ATM. Can't we just take $2 bpd and fund defence needs

Ibrahimanees:

The ECA is supposedly under the full control of the president (though NASS are in the process of scrapping it) the president can use it for anything, but for some reason I don't know it's always been dormant even during the past administration which get me thinking maybe there are restrictions.

jpphilips:


Your foreign reserve is basically your foreign investment funds guarantee in pragmatic terms, it doesn't function as it sounds.

bidexiii:
MORE

bidexiii:
Army General Leading Nigeria's War Against Boko Haram Removed



The Theatre Commander, Operation Lafiya Dole, Attahiru Ibrahim, has been removed from that position.

Mr. Ibrahim’s redeployment comes three days after Boko Haram insurgents carried out one of the deadliest attacks on Biu town in Borno where at least 18 people were killed and 52 others seriously injured.

Mr. Ibrahim, a major general, took over the command of the ongoing counterinsurgency operations in the North-East in May 2017. The former occupant of that position was....Read more




http://saharareporters.com/2017/12/06/army-general-leading-nigerias-war-against-boko-haram-removed

Ibrahimanees:

Can you please explain then, I am not challenging you, just curious. Both Foreign reserves and excess crude account.

homerac7:


I have known @jjphillips on this platform for about 10yrs. When he talks economy/economics/finance, you pay attention. He definitely knows what "shiit" he talks about.

jpphilips:


Not correct, read section 162 of your constitution.

homerac7:


Very interesting news... Something is definitely up.

Ibrahimanees:

God, I am feeling dizzy with all that English. Unless there is something I am missing here, section 162 is talking about Federation Account

jpphilips:


I didnt say anything about other earnings of the government ECR inclusive?

Ibrahimanees:

Can you please explain then, I am not challenging you, just curious. Both Foreign reserves and excess crude account.

homerac7:



Bad guy, Maj Gen Lucky Irabor. The dude still moves around with his side arm.

My guy feeling is he's next COAS. So experienced on field operations. Hope the politics favour him.

Ibrahimanees:

He certainly sounds like Minister of finance Which is why I am asking for enlightenment. Because according to the Senate, they are scrapping the Excess crude account because "it's unconstitutional for the president to have an unchecked access". That's exactly what they said. But if he says it's wrong, then I believe him because this will not the first time NASS has made a total joke of themselves.
https://www.google.com.ng/url?sa=t&source=web&rct=j&url=https://www.vanguardngr.com/2017/11/senate-calls-abolition-excess-crude-account/amp/&ved=0ahUKEwiqzZeQ8_XXAhUB-6QKHWesACwQFgg5MAQ&usg=AOvVaw3MUsVbk4W4mHfogqIqGuwf&ampcf=1

jpphilips:


Excess crude revenue account is an account of the fg, that temporarily houses the differential between senate oil benchmark and its true market value. section 162 forbids the fg from neither keeping it to itself nor appropriate it for her use. same with everyother earnings of the FG.
Foreign reserve is a component of the federation account used to be called stabilization funds (i have no clue what they call it lately) usually saved abroad presumed to represent a contingency fund, in practice it usually guarantees foreign direct investments.

Odunayaw:
Ah just what I wanted to see

Now, did you purposely leave my question about African NCO corps unanswered?

jpphilips:


But he was redeployed from Lafiya dole theater recently after BH ran amok.
Is he really as good as you claim?

bidexiii:
.@USArmyAfrica's Acting Commanding General, Brig. Gen. Lebeouf meets with Maj. Gen. R.L. Pam during an equipment handover between the U.S. Embassy Nigeria and Nigeria Army's 20th Infantry Battalion in Abuja, Nigeria.

LTGEN:

What kind of equipment was handed over.

bidexiii:
Military appoints Maj-Gen Rogers Nicholas new Theatre Commander for Operation Lafiya Dole





https://www.google.com.ng/amp/s/www.vanguardngr.com/2017/12/military-appoints-maj-gen-rogers-nicholas-new-theatre-commander-operation-lafiya-dole/amp/

Jelal0007:
If Attahiru Ibrahim could be changed in such a short time,then it means there's a problem somewhere.