₦airaland Forum

Validated:
Mr. ITK, you are the ignorant one. Mr Fact checker,
"Central banks build foreign reserves by using domestic currency to buy foreign currency in the foreign exchange market to prevent their own currency from appreciating too rapidly or to stabilize exchange rates. They can also accumulate reserves by managing funding operations for reserves, such as issuing foreign-denominated debt or investing existing reserves to generate returns. Other methods include receiving foreign currency through foreign direct investment or other international financial flows. "

So what's your point? This is the same thing aribisala0 said
But the problem is you are lifting it directly from the internet without understanding it

Kanixt:
Why must you disgrace yourself. That guy there was pointing out and how hold your leaders accountable, whereas you are here shaming yourself.

Check out
Foreign exchange reserves are a country's assets, held by its central bank or government, that consist of foreign currencies, gold, Special Drawing Rights (SDRs), and foreign government securities. These reserves are owned by the country's central bank and are used to influence the exchange rate of their national currency, settle international payments, and provide a buffer during financial crises.
What are Foreign Exchange Reserves?
Assets Foreign reserves are highly liquid assets that a country's monetary authorities can readily access and control.
Components They can include:
Foreign Currencies: Assets denominated in foreign currencies, such as U.S. dollars and euros, which are often held in deposits or as foreign bank notes.
Gold: Holdings of gold bars.
Special Drawing Rights (SDRs): A reserve asset created by the International Monetary Fund (IMF).
Foreign Government Securities: Holdings of bonds and treasury bills issued by foreign governments.
Purpose The primary purposes of foreign reserves are:
Exchange Rate Intervention: Used to influence the value of the national currency in the foreign exchange market.
Payment Imbalances: To directly finance a country's international payments.
Economic Stability: To serve as a buffer for the economy by ensuring a country has backup funds in case its own currency rapidly devalues.
Who Owns and Manages Them?
Central Banks and Monetary Authorities: Foreign exchange reserves are controlled and managed by a country's central bank or its equivalent monetary authority.
Government Control: While managed by the central bank, the reserves are considered national assets, effectively owned by the country's government.
Key Examples
Major Holders: Countries in Asia, such as China, tend to have the largest foreign exchange reserves.
Use of U.S. Dollars: A significant portion of global reserves are held in U.S. dollars, partly due to the stability and global economic prominence of the United States.

But this is exactly what aribisala said.

T9ksy:
Yeah, they came last to Lagos (in the early 1900s). They came, they saw and they want to dominate

They came much later than 1900s, I'm not talking about isolated cases. And they can't dominate. It's just impossible that's what pains dem

DMerciful:
I don't have time to engage you but just know that Yorubas will not be allowed to take Lagos without paying the hundreds of billions of dollars the Nigerian State invested in Lagos.

You can make yourselves happy the way Arsenal fans make themselves happy that Arsenal is their club

You are just joking
I don't know why ibos are the most tormented when it comes to the issue of Lagos. Meanwhile ibos are among the last group of people to get to Eko

Racoon:
Does the unfortunate fellas plaguing the hapless citizens of this nation appreciate what the GDP is today? Per person capital GDP is the best index of assessment not even the GDP of a nation.

HDI is the best index to use to assess how well a country is doing not even GDP per Capita.
Hdi covers such things as education, health, infrastructure, living standard

Reflect7:
MUMBAI IS THE CAPITAL and largest city.

Why don’t you tell us WHY the British-named Bombay was changed to MUMBAI, the name of a Hindu Goddess?

Nobody said Indians changed every name to Indian.

But their MOST IMPORTANT CITY AND CAPITAL?

They could not tolerate it having a colonial name.

You are asking why they waited till 1995 to change it?

What a weak point.

Their colonial hangover began to FADE then, that’s why.

When will YOURS fade?

Never?

India got its independence in 1947. Why wait till almost half a century years before changing the city's name to it's original name?
Meanwhile Eko has never for once been erased. Up till tomorrow it remains an official name and Yoruba remains an official language in the state.
There are many places in the state which are named after historical figures that are neither Yoruba nor bini. And they remain so till tomorrow. If you don't like it you can jump into the lagoon

Kemetian:
Stop LYING. Go back and read what I said about Indian religion.



I heard about it before you learned to read and write. Hyderabad was named after Persian Islamic rulers of the north who were there as early as the 16th century, 500 years ago. So it is UNDERSTANDABLE to let it be named Hyderabad.

Persians and ancient Indians share a common Indo-Iranian root that connects their languages, myths, and early traditions.

So Hyderabad is a name integral to Indian society. It's not a COLONIAL name.



Roughly HALF of Hyderabad comprises muslims.

They are there living in peace. Nobody is hating them.

ALL THIS OUT OF YOUR DESPERATION to keep an archaic English colonial name left by thieves who considered you subhuman.

Where is your dignity?

No, you didn't know about Hyderabad until I told you. That's why you are clawing at straws now. I made it clear to you it was named after a Persian. I'm not one of your regulars that you bamboozle here with AI nonsense you lift off the internet. So leave all this irrelevant explanation. Tell us why a town of over 10m people is named after a Muslim in an Hindu- mad country.

Kemetian:
See how he carefully chose a city that he thinks ties with his oyinbo worship.

What about the British-named Indian Capital Bombay, that was officially renamed MUMBAI in 1995 by the Nationalist Indian government?

Don’t you ever mention Indians or Chinese to justify your subservience to whites.

They think like ME, not like you.

They know, and are proud of their heritage and history. Do you see them following white gods like ‘Jesus’ and ‘Mohammed’, and all that stuff?

Never.

An Indian man will worship his cow or snake like his ancestors. If you don’t like it, that’s your problem. Same as Chinese, Japanese, etc. They are Buddhists, Taoists, and Shintoists.

Proudly so.

Where is your own religion?

The basis for ALL religion?

In the gutter where your colonial “master” threw it, to chuck a bible in your face.

You are grasping at straws. I'm talking common sense, you keep shouting oyinbo worship. What has Hyderabad got to do with oyinbo? To you everything not black African is oyinbo. Typical semi illiterate reasoning.

You said indians would rather worship a cow than give a foreign name to an Indian city. I'm telling you probably you never heard about Hyderabad. Do you know how much indians hate muslims? So once again tell us why the name Hyderabad still stands.

This man says so much bullshit

Lanretoye:
the number of your brothers and sisters that attend tinubu’s millenium schools will shock you,ungrateful lots

I am Yoruba. You don't need to go that route.
So apart from a few blocks of schools here and there, there's little else to point to in eight years of Tinubu's rule in Lagos.

Ttalk:
Thank you for your candid opinion on the state of affairs and governance in Lagos state and your concerned about Agbero in Lagos.

Though your points are from the position of patriotism but you have failed to look at Lagos as a state within Nigeria

Two major reasons are the causes of the flaws you see in Lagos.

1. the Federating nature of our country that that doesn't allowed barriers or visa for entry rhereby turning Lagos into explosive habitat that her income generation doesn't march the influx of people that troupe into the state daily. Most of these people are not taxable but they constitute a drain into the overstretched infrastructure of the state.

2. Lagos state is a state in Nigeria that is considered as developing country. You will agree that Lagos state was the first state in Nigeria that regulate the activities of Agbero by getting them registered so their activties can be monitored and tamed by the government.

You will equally agree that Lagos Agbero are the least dangerous among all the Agbero in Nigeria, I have had encountered with Agbero in Anambra, Abuja and Lagos and I can confidently tell you that Lagos Agbero wear human face unlike the one in Anambra that are deadly and dangerous.

On what ground will you want Lagos to eradicate Agbero while other states are nurturing and growing their own Agbero, such woke opinion doesn't correlate with the reality of Nigeria.

Lastly, I hope there should be a state law that will regulate the influx of people especially those who have no business living there.

Let Nigeria evolve together and not limited to a region or a state, the absence of governance in other states is a disadvantage to Lagos state.

Eko o ni baje

One of those Lagos agberos just beat an innocent man to death last week.

Kemetian:
See how he carefully chose a city that he thinks ties with his oyinbo worship.

What about the British-named Indian Capital Bombay, that was officially renamed MUMBAI in 1995 by the Nationalist Indian government?

Don’t you ever mention Indians or Chinese to justify your subservience to whites.

They think like ME, not like you.

They know, and are proud of their heritage and history. Do you see them following white gods like ‘Jesus’ and ‘Mohammed’, and all that stuff?

Never.

An Indian man will worship his cow or snake like his ancestors. If you don’t like it, that’s your problem. Same as Chinese, Japanese, etc. They are Buddhists, Taoists, and Shintoists.

Proudly so.

Where is your own religion?

The basis for ALL religion?

In the gutter where your colonial “master” threw it, to chuck a bible in your face.

You are gradually becoming a lunatic with this your obsession with white people.
How's Hyderabad anything white for goodness sake?!! It's named after a Persian. The indians who own the place don't think anything about the name. There are places in the same indian which still retain the names foreigners gave them just because they reflect a part of their history either good or bad. Wellington is an important area in India. Why have they not changed the name.

The Portuguese named Macao is still Macao to this day. The Arab influence is still very preeminent in the Swahili gulf of Tanzania and Kenya. The word Swahili itself is Arabic.

The name Benin up till tomorrow is Yoruba. Why didn't the binis change it back to igodomigodo? Some things are not as important as some of you think. Why did the indians wait until the 90s before changing Bombay to Mumbai?

Where's white worship in that. Yorubas till kingdom come will still call Lagos Eko and ensure that Yoruba is an official language of the state. Even instructions on their trains are in Yoruba as well.

Wonders shall never end. How's citing Hyderabad as an example white worship? This man is going mad. Was Mohammed white?

One more time, tell us why the indians have not changed the name Hyderabad to an Indian name since according to you, oh wise one, they hate anything foreign.

Most yorubas, the tribe that owns the state, still call it Eko. Ipinle Eko is what it is known as officially in Yoruba. Yoruba is an official language in Lagos. It's still Lagos to reflect an important part of it's legacy and history.

Hyderabad is a big city in India. It has a Persian name from its past. Till tomorrow it will still be Hyderabad. Why have they not changed its name to an Hindu name, considering how much indians hate muslims?
Another blindly nationalistic thread. Very soon we will start hearing about how it was black people that taught the rest of the word how to read and write and speak and eat. Mtchew

Uprightness100:
Cry cry baby pumping FAKE news into yourself to console yourself.

REALITY..
The take over has Begun.
Gaza is Burning..
Gazans are Japaing...

You are not mature. You probably think it's a religious war

OnionBandit:
The World Cup isn't something Nigeria owns by right, but with our bunch of top players way better than Benin's, isn't it a shame that we're fighting hard to qualify while they're finding it easy? That we don't stand a chance qualifying from the group stage, me I kuku agree with you 💯

Isn't it a shame that an oil producing country with hydroelectric power potentials can't provide stable power in 2025?

Nigeria is not a serious country and it reflects in everything that concerns the country including sports.

seunmsg:
Nigerians are not in any hot soup. Hardworking Nigerians will even pay less taxes. Those in hot soup are criminals who can’t explain the sources of their income.

you people will always defend anything from this government out of tribalism. This is the same way you defended fuel subsidy removal. Now most of the money saved from subsidy removal is in the pockets of the governors who are doing nothing

CoronaVirusPro:
It’s been a tough week within my machinery’s and political circle on the way forward for Lagos state, and it’s almost reaching conclusions that the state does not have a Governor but a furniture in the Round House.

I am a hardened supporter of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) and did had my reservations about his 8 year rule in Lagos state. The most important was empowering touts which I detest. His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) is human and never expected perfection. He made far greater wins in the state that could have overruled the menace, but we still have to address his biggest mistakes as a Governor.

Lagos has grown into a mega city over the years, thanks to the contribution of all hardworking ethnic groups, who have involuntarily contributed to the development of the state.

With a massive IGR and Federal allocation, the state still struggles to meet up with basics despite humongous debt in trillions.

What has the subsequent administration after His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) really done for Lagos State? Education, healthcare, education environment, security and infrastructure in shambles!

It was like subsequent governors thought with their most brilliance that Lagos Island and specific areas in mainland what was all Lagos state was all about. Infrastructures are transiting into dilapidation across the state and only few voicing out while toutism ravages the state.

Does our state really have a Governor? if common sense is brought to the table. A Governor that have used all available state resources to enlighten himself, still cannot replicate those lessons imbibed, paid by tax payers and our collective wealth.

What are we celebrating in about the state in 2025? Where pregnant women still take STANDING FAN to the maternity ward, or where hard working Lagosians get extorted on daily basis by government approved touts.

We need to rethink in Lagos state. We might think we moving but we stagnant. As a matter of hardcore fact, we retrogressing.

The last living thing that governed the state was The Great Raji Fashola.Had his flaws too, but him living was a consolation.

Now we electing corpses in the name ethnic bigotry.

The question you need to ask is that what did Tinubu himself do for Lagos as governor. What medical, educational or road infrastructure did he put in place? In 8 years could he give lagosians widespread water supply? Except increasing taxation

Watcharena:
Wait for December and see how price will sky rocket 🚀

Na chicken price for Xmas dey frighten me now. Last year prices were horrendous

Ttalk:
Real estate in Lagos has crashed, no Igboman will buy property in Lagos any longer, that money is already going to the SE where real estate is booming.

Elusive001:
Relax. Israel will take over both Gaza and Judea and Samaria. Watch and see it play out. GOD Almighty is restoring Israel.

The Israelis themselves are already at loggerheads with Bibi. Well, let's see how it goes

This is not to eradicate Hamas but to grab land. How do you eradicate something which is mainly an ideology? Unless you kill all the Palestinians.

Richtaiwo:
You don't know what evolution is, do you?

Lemme explain to you.

Now, where is AD?
Where is AC?
Where is ACN?
What you have standing now is APC.

What this means is that all the parties you mentioned have evolved into APC.

Compared with APUGA, PDP, Elu P and ADC which are still standing on their own.

what about sdp? Why did you leave that one out?

Wait for the usual suspects

You will soon see them

Another ethno tribal thread in the mud.

JovialJune:
Yet not once has Trump been sent to prison, when the hogwash allegations were springing up during campaign period, I was expecting Biden and the supreme courts to use their power to send him to jail, none of them had the balls to do it, why is that pray tell?

And yes George Floyd was a known scum bag, a convicted felon that once threatened to shoot the stomach of his pregnant baby mama, a deadbeat loser with multiple baby mamas that never acknowledged any of his kids, a known drug addict

So yes he shouldn't have been used as a poster boy for the black community, it's just unfortunate that they used a scum to achieve that.

And the bolded is what qualified him for the execution he got. Well done, sir

Believeintruth:
Guy are you for real? At the time of the protest we had Greece that was boiling and the middle east that was already on fire following Arab spring. Did you think GEJ would allow it, already at that time Tinubu was referencing the Arab spring that was why it was called Occupy Nigeria protest then.

Why are they now suddenly scared and sensitising people against having a Nepal situation in Nigeria when they wanted an Arab spring in Nigerian then?

Because they're hypocrites