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Nairaland Forum / Nairaland / General / Business / ECOWAS Adopts ECO As Name Of Single Currency (44002 Views)
ECOWAS Set To Unveil Single Currency ECO / ECOWAS Adopts ECO As Name Of Single Currency,elects Niger President As New Chair / ECOWAS Seeks Proposals For Single Currency Logo, Name (2) (3) (4)
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Re: ECOWAS Adopts ECO As Name Of Single Currency by vaxx: 8:21am On Jul 01, 2019 |
9jaRealist:Lol. I suggest you have a challenge understanding basic terms. You don't use the word incorrect when it is not necessary. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by 9jaRealist: 8:26am On Jul 01, 2019 |
vaxx: Seriously, do you actually understand basic English?! You are FACTUALLY INCORRECT! Nigeria CURRENTLY meets the fiscal deficit convergence criteria (and has CONSISTENTLY done so since 2007). Nigeria’s fiscal deficit in 2018 was less than 1.5% of the GDP, and the projection for 2019 is 1.3% of GDP. Under the Fiscal Responsibility Act of 2007, the governments’ fiscal deficits (as it is also domesticated by the states) are NOT allowed to surpass 3% of GDP. > |
Re: ECOWAS Adopts ECO As Name Of Single Currency by 9jaRealist: 8:33am On Jul 01, 2019 |
vaxx: Rational folks do not use unnecessary words... Accordingly, I used the term because your post was factually INCORRECT. > |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 8:35am On Jul 01, 2019 |
chrisagyei: lmao we are talking over the last 10 years and this one is talking story naira is 360 today used to be 150 there abouts 10 years back but how do you explain from 0.9 in 2008/9 to over 5.5 today in 2019 despite knocking out 4 zeroes in the first place Ghanaians have ZERO basis to gloat make una go sit down our region is in shambles and we need to work on it |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 8:37am On Jul 01, 2019 |
9jaRealist:they export so much oil and gas for their size hence the fires windfall is MASSIVE That us to blame for the high dinar 1 Like 1 Share |
Re: ECOWAS Adopts ECO As Name Of Single Currency by 9jaRealist: 8:51am On Jul 01, 2019 |
Ugosample: That’s still NOT production (they don’t even produce basic food crops)... Thus the only difference between them and us is population, not production. > |
Re: ECOWAS Adopts ECO As Name Of Single Currency by vaxx: 9:18am On Jul 01, 2019 |
9jaRealist:i am surprised you called yourself rational here when it is clear evidence you are gloating. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by vaxx: 9:20am On Jul 01, 2019 |
9jaRealist:Then which of my input is still incorrect with yours. Stop footing ignorance. If the convergence criteria are not revised to reflect the real macroeconomic situation in the sub-region, the single currency dream will remain work-in-progress for the unforeseeable future. Nigeria in all fact, is not meeting up. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by 9jaRealist: 9:21am On Jul 01, 2019 |
vaxx: Bye Felicia! |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Yyeske(m): 11:31am On Jul 01, 2019 |
Ugosample:I was about correcting that poster but you came to the rescue |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Yyeske(m): 11:39am On Jul 01, 2019 |
Ugosample:Their massive forex reserve can sustain their currency up there unlike Ghana that just pulled out some zeroes to make the cedis look valuable when it's not. Our GDP both nominal and PPP per capita is still higher than theirs, not even talking about the GDP nominal and PPP itself. We are over 200 million and they are just 25 million, equivalent to Lagos. Just Lagos and Ogun states would flush them off even without the rest of Nigeria coming in |
Re: ECOWAS Adopts ECO As Name Of Single Currency by vaxx: 12:20pm On Jul 01, 2019 |
Yyeske:You actually lumping and binding flaws as fact And the most interesting horseshit in your ignorance is about ""lagos and ogun state flushing them off"". Go learn about demographic dividends first before you argue. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by writeprof(m): 2:46pm On Jul 01, 2019 |
End-time things! |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Yyeske(m): 3:05pm On Jul 01, 2019 |
vaxx:Lecture me then. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by chrisagyei: 4:09pm On Jul 01, 2019 |
Ugosample:you are still sounding dumb.There's nothing like knocking off zeros cos if it's that easy,everyone would do same including your diarrhoea running useless currency.Do you know at some point in 2009-2010 your president together with central bank planned on redominating that naira of yours.And now they have pumped over 40 billion dollars to stabilize it in the last four years buh it keeps running whilst the cedis was left to float freely by the sole powers of demand and supply buh depreciated from 4.1 to 5.2 currently.The year under review among the two currencies is 2008 which was 10 years ago and naira to 1 dollar was 117.The cedis to the dollars was 1 to 1.Fast forward to 2019.Naira to dollars has worsened to 400 naira to 1 dollar(forget the 360 fake cap,it's never used out there) whilst the cedis to dollar is now 1 dollar to 5.2 cedis.Now tell me which is useless.Or you think the cedis can't deprecate to 200 cedis to a dollar overnight like how your useless naira did.The cedis is stable and deprecates lightly in 0.5s against the naira which deprecates in 50s because it is well managed under a very efficient government and less corrupt leadership.Why do you think we all chalking all this success even when a little country like Sierra Leone with numerous resources us and the rest of Africa is seriously struggling with growth rate of less than 5% whilst ours is projected to grow at 8% and termed world's fastest by both the IMF and world Bank and GDP per capita of less than 800 dollars for their less than 8 million population whilst we go around over 2,000 GDP per capita nominal and 5,000 GDP per capital PPP. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 6:04pm On Jul 01, 2019 |
chrisagyei: people like you are making me believe that a typical Ghanaian lacks cognitive sense, and analyse like kids, always looking for a reason to go one up against Nigeria I have seen your type again and again and again. Okay let me break it down for you, if you still have small sense to understand in 2008 Let me use your rates $1 to 117 naira (which it was not, we are talking more of 150, but for analysis sake let us use 117) and "$1 to 0.9 CFA I invest 1 million dollars as a foreign investor into say 10% 10 year bond of both countries that means I the face value of the bond is 117 million naira for Nigeria and 900,000 cedis for Ghana ten years after you wish to redeem the face value both currency have depreciated N360 for naira 5.5 for cedi so you divide your 117,000,000 by 360 to get your face value in dollar which is $325,000 and you divide your 900,000 cedi by 5.5 to get $163,636 face value which currency performed worse over the last 10 years I am a portfolio investor, and I will tell you to your face that the cedi is one of the worst performing currencies in Africa over the last 10 years I will not touch any Ghanaian security with a long pole the problem with you Ghanaians is that you guys think you are better than Nigerians which you are not your country us just as scattered as every other country in the sub region We as Nigerians don't deceive ourselves we know the truth and we say it that all is not well but Ghanaian people will continue to deceive themselves a currency that slid so sharp like that after redomination is useless As for you accusing Nigeria of defending the naira America practiced qualitative easing for 10 years plus to the tune of $80b per month year in year out The U.K. and Japan does same the govt will not tell you the truth Ghana is BROKE with a very high debt to GDP ratio they cannot afford to take monetary actions to defend the cedi elections are next year you guys should vote in this talkative again lmao onye asai di ka gi 1 Like 1 Share |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Yyeske(m): 11:08pm On Jul 01, 2019 |
chrisagyei:I hate epistles, the US dollar was 90 pesewas to a dollar when it was rededominated and the cedis moved from 9,000 to a dollar to 90 pesewas. You said 10 years ago that the naira was 117 to the dollar and the dollar was just 90 pesewas to 1 dollar., today it is 360 naira and 600 pesewas(6 cedis). Do the calculation on the rate of the depreciation of both currencies. Give me the GDP nominal and GDP PPP of Nigeria and Ghana and their per capita so we can compare. You left your worthless cedis to float and it depreciation from 90 pesewas to 600 pesewas in a decade, you can remove another two zeroes and make it 6 pesewas to a dollar, it is still useless |
Re: ECOWAS Adopts ECO As Name Of Single Currency by chrisagyei: 6:42am On Jul 02, 2019 |
Yyeske:Listen carefully.The cedis was 1 cedi to a dollar ten years ago not your 90 pesewas as you are talking about here.About rate of inflation the fact of the matter of the naira deprecated from 1 naira to a dollar between 1985 - 1990s and now on life support by your government injection of over 40 billion dollars to stabilize your dead currency amidst your extraordinary level of poverty,corruption,lowest infrastructure,extreme unemployment,etc etc speaks volume of more depreciation to 1,000 naira to a dollar in the next five years.When oil prices soured in 2014-2015,the 1 dollar was equal to 540 naira and even with your current 360 figure,it's still not the one used out there on the black market,1 dollar is over 400 naira.Our government don't inject a cent into our currency buh it's left to float according to demand and supply.About redomination of our currency,I don't know why some Nigerians try to always envy a simple currency redomination when their own government has plans on redominating their currencies.Argentina,Turkey,South Korea,Germany and other nations redominated their currencies and all experts and most Nigerians keep doing business in Ghana due to our valuable currency so you are simply being naive on how our currency is performing better including our economy which is projected to be the fastest growing in Africa in 2019 with over 8% growth.Our GDP per capita is over 2,000 dollars norminal. GDP is projected to be over 60 billion dollars for a country of 29 million people.Read what your former Central Bank Governor said about Ghana and Nigeria
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Re: ECOWAS Adopts ECO As Name Of Single Currency by chrisagyei: 7:10am On Jul 02, 2019 |
Ugosample:Listen carefully.The cedis was 1 cedi to a dollar ten years ago.About rate of inflation the fact of the matter of the naira deprecated from 1 naira to a dollar between 1985 - 1990s and now on life support by your government injection of over 40 billion dollars to stabilize your dead currency amidst your extraordinary level of poverty,corruption,lowest infrastructure,extreme unemployment,etc etc speaks volume of more depreciation to 1,000 naira to a dollar in the next five years.When oil prices soured in 2014-2015,the 1 dollar was equal to 540 naira and even with your current 360 figure,it's still not the one used out there on the black market,1 dollar is over 400 naira.Your currency is very useless.Our government don't inject a cent into our currency buh it's left to float according to demand and supply.You speak of quantitative easing and developed nations controlling the depreciation of their currencies which makes your point very useless.Your economy produces nothing and depends solely on oil prices.About redomination of our currency,I don't know why some Nigerians try to always tag a simple currency redomination when their own government has plans on redominating their currencies.Argentina,Turkey,South Korea,Germany and other nations redominated their currencies and all experts and most Nigerians keep doing business in Ghana due to our valuable currency so you are simply being naive on how our currency is performing better including our economy which is projected to be the fastest growing in Africa in 2019 with over 8% growth.Our GDP per capita is over 2,000 dollars norminal. GDP is projected to be over 60 billion dollars for a country of 29 million people.Yes,our country is doing far better than yours and our current president is far better than any president Nigeria ever had.The fact that Nigeria voted for a lifeless president who hardly completed high School tells more about your country.Read what your former Central Bank Governor said about Ghana and Nigeria just last week Friday.I state facts instead if gibberish like you do.The whole world knows that Ghana is doing far better than Nigeria in terms of everything from Health to education to Energy to agriculture to human Development index to peace and security to currency management,to even sports.The facts don't lie and millions of Nigerians running to Ghana can testify.It's scary seeing Nigerians everywhere in Ghana 1 Like
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Re: ECOWAS Adopts ECO As Name Of Single Currency by 2019elections: 7:42am On Jul 02, 2019 |
No b only Eco na Ahume! |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 8:10am On Jul 02, 2019 |
chrisagyei: You are still beating about the Bush and talking rubbish all you said does not change the fact that the cedi is one of the worst performing currencies in Africa over the last ten years You are bringing history and trying to shy away from it. This portfolio game is one of the things I do for a living, the cedi is so damaged that Ghana is seriously dollarised. everyone is pricing things in dollars even some of my partners Ghanaians like to delude themselves that is the problem with you guys We as Nigerians don't we know our strength and we uni out failimgs and we talk openly about it Ghana people own is to be lying in public (like that your liar countryman that says that coke is not sold 3.5 cedi anywhere or that .Dumsor does not happen anywhere in Ghana) Ghana produces nothing and is a basket case, so I wonder where this empty boasting is coming from Ghana and Nigeria can never be mates economics wise Yes, we have challenges today, but still, Ghana ain't shit it's just as threadbare as every other African country I watch your tv when I'm in town and I hear what your press say ago Nigeria all the time..... so I am nit surprised many nigger Ghanaians think like you. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Yyeske(m): 8:53am On Jul 02, 2019 |
Ugosample:That person you quoted doesn't even understand what he's writing, the cedis tumbled from 0.9 to about 6 cedis to a dollar, the naira from 117 to 360 to a dollar and he's still bragging with his worthless cedis. I guess Ghanaians are richer than the South Koreans and Japanese. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 9:05am On Jul 02, 2019 |
Yyeske: Ghanaians like to delude themselves That narrative of Nigeria Naira real value is 400 + is what their media tell them Especially that useless GTv evry 5 mins, Nigeria this Nigeria that always wanting to show they are better than us, which in reality they are not tell him to name 5 solid indigenous Ghanaian brands, he will be scratching his head Tell him to list 5 Ghana originated solidly capitalised banks, he will scratch his head. Tell him to list 5 known Ghana entertainment personality out there in the world, he will scratch his head We know where we fvck up And we know our strength but Ghana people can deceive themselves well well he is talking of growth and PPP things is Ghana are much more expensive than they are in Nigeria expatriates have put their economy in their own pocket while the locals collect crumbs ( im one of them.so i know lol ) what they try to boast about is that "at least we can attract investment" Why can't the Ghanaians build brands and businesses the way we Nigerians do? Even Ivory coast that is even more business friendly than Ghana do not boast like this Just forget that onye asai. |
Re: ECOWAS Adopts ECO As Name Of Single Currency by chrisagyei: 1:43pm On Jul 02, 2019 |
Ugosample:I see you're hurt because Ghana is souring higher whilst the kidnapping hub and poverty capital of the world is vastly deteriorated.Listen,Ghana hardly talk about Nigeria.Your issues is the least of our concern.The only time we talk about Nigeria is when a Nigerian criminal,kidnapper or armed robber including cyber scammers are caught which always happens then together we admonish your failed country and how our immigration service should be always alert.Hahaha,I see you see yourself as an expatriate when you're here.Well,we see you as a criminal.All Nigerians are criminals according to most Ghanaian narratives buh I don't share that opinion,buh be careful what you call us when you claim we feed you or when you visit Ghana regularly.Remember that professor who was arrested,sacked and humiliated nationwide when he was caught on tape advising his Nigerian compatriots.Don't take our quietness for granted.We had two revolutions,executed publicly three former presidents and thousands of corrupt government officials in a day,we deported over 200,000 Nigerians in one year in 1969,so be mindful what you say in our midst.I will advise you never to involve yourself or discuss our politics wherever you are.I keep myself far away from Nigerian politics.We achieved all these for the country to be as best as you keep running to for comfort,business and security.If our currency which is 1 dollar to 5 cedis is worse performing,your 1 dollar to 400 naira which keeps depreciating like hell is not categorized at all.Read what your central bank Governor said about Ghana. 1 Like |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 2:03pm On Jul 02, 2019 |
chrisagyei: Hurt about what? Nigga you trippin just stay your lane, because now it's clear the kinda Ghanaian you are |
Re: ECOWAS Adopts ECO As Name Of Single Currency by chrisagyei: 7:45am On Jul 03, 2019 |
Ugosample:what kinda Ghanaian am I?,seriously.Kk listen,I hope you've taken my advice and will stay out of Ghana's business or even type "Ghana" or "Ghanaians" in any of your comments.You coming here never means you know 1/100th of Ghana or Ghanaians character.Even I and other Ghanaians don't know a quarter of Ghana and Ghanaians upon all my knowledge and exposure.And we don't and don't wanna know you either.Keep your Ghana bashing or praise or mention away so I can leave this hell of a forum in peace.Whether you better than us or whatever,I wish you never step foot into Ghana again with your coins which you brag or see yourself as an investor,lol buh rather the citizens see you as a criminal(which is wrong generalization) buh am not in the position to say that.ECOWAS movements and Ghana Immigration Authority has that option. 2 Likes |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 7:47am On Jul 03, 2019 |
chrisagyei: "you wish I never step foot in Ghana again " Nigga, YOU ARE TRIPPIN I go dey land steady for una domot for a long time coming your wish does not mean $hit |
Re: ECOWAS Adopts ECO As Name Of Single Currency by PetroDollaxxx: 9:18pm On Jul 03, 2019 |
Can you imagine the crap you are spewing out? Your own country is in crisis, Ghana has offered you refuge and you are still talking trash about Ghana n Ghanaians? You Nigerians are your own enemies, walahi. The most useless people on the face of this earth. Upon all the trash you keep spewing, why don’t you stay in your rotten sh1thole zoo? Arrant nonsense! Fuckeduppedness the idiotic spare parts dealer/phone dealing hustler calls himself an “ expatriate” chai Ugosample: |
Re: ECOWAS Adopts ECO As Name Of Single Currency by Ugosample(m): 9:28pm On Jul 03, 2019 |
PetroDollaxxx: Four things 1) I don't live in Ghana too expensive and overpriced for nothing 2)I don't sell spare parts 3) I don't sell phones either And 4) Ghanaians like you are full of $hit Bye |
Re: ECOWAS Adopts ECO As Name Of Single Currency by PetroDollaxxx: 8:57pm On Jul 05, 2019 |
Nigerians, particularly igbos, are the most stvpid mudder fuggerz in the world Ugosample: |
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