₦airaland Forum

handsomeclouds:
Foolish man

You might not share his opinion but insulting him is not the best na.

End time gift!

A former Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, on Thursday faulted the implementation of the Treasury Single Account by the Federal Government and called for its immediate review.

He also advised President Muhammadu Buhari to remove the controversial fuel subsidy and privatise the nation’s refineries immediately.

Soludo spoke in Lagos during the third anniversary lecture of the RealNews magazine.

He said the TSA policy was good but needed some reviews, because the government could not afford to keep funds with the CBN and starve the economy of the necessary liquidity.

Soludo said, “The Treasury Single Account is a great initiative, and I congratulate PMB for that. However, we don’t have to return to the past of having every penny of government largely redundant in the central bank.

“For an economy desperately in need of stimulation, piling up idle cash at the CBN is not sound economics. We should deploy technology and transparent rules to implement a hub and spoke model of the TSA whereby the CBN is the hub, while the commercial banks remain the spoke.

“Of course, there are some benefits of keeping it at the CBN, including possible anti-corruption outcome; but as a proverb says, ‘you don’t set your house ablaze because of the irritation of a rat in the house’. We can rid the system of corruption and realise all the benefits of the TSA but still not starve the economy of the necessary liquidity.”

On fuel subsidy, the former CBN governor said Buhari had the moral authority and legitimacy to quickly remove it and privatise the refineries.

“The fundamental case against subsidy removal is not economic: it is the fact that the citizens do not trust the government to optimise the use of the proceeds for their welfare. If PMB does not deal with these issues now, I wonder when, if ever,” he said.

According to Soludo, the current policy regime of the CBN is inconsistent with the objectives of creating jobs, growing income and reducing poverty.

He said the economic hardship in the country was largely as a result of the “choice rather than the oil price slump alone,” adding that current slump of the economy was predictable and largely avoidable.

The renowned economist noted that a delayed or dysfunctional adjustment of the national currency, especially during a period of external shock, was usually costly.

He said, “Delayed or dysfunctional adjustment is costly. Crude controls to sustain an artificially fixed exchange rate create permanent uncertainty and the currency remains under siege; it becomes a dead weight loss to the economy.

“Fixing the rate and reliance on controls to sustain the peg is a casual way to prove to everyone that the currency is overvalued and discernible investors exercise their option to ‘wait’ or expect policymakers to frontload incentives to more than compensate for the future exchange rate risks they are taking today.

“In either case, investment and the much needed capital inflows into the economy wait, or as is happening now, continue to flow out. It is an irony that in the global economy of today with surfeit of liquidity, Nigeria (with very low savings rate and desperately in need of foreign savings) is suffering from massive capital flight. What a paradox!”

Soludo added that “external shocks do not kill an economy; it is the choice of specific policy regime that can lessen or worsen the effects of the shock.”

Soludo argued that there were better ways to implement capital controls if needed.

He said, “Every economy is controlled in one way or the other. The question is what kind of controls or regulations can be implemented to address observed market failures that will be credible, transparent, and without distorting or perverting the incentive structure so that we can have sustainably shared prosperity.”

He also criticised the plan to establish a national carrier, saying it was not viable now when the government was facing financial crises and needed to spend money to fix roads.

The ex-CBN governor said the regime of former President Goodluck Jonathan had “the worst economic management team” relative to available resources.

He also lamented that the Jonathan administration left the country with an “unprecedented rate of debt accumulation.”

http://punchng.com/soludo-urges-fg-to-review-tsa-remove-subsidy/

I wish the people of Kogi a peaceful, free, fair and credible election today. May our democracy b the winner.

As minister of information, Lai will need to tone down his attacks on the opposition. His present post is quite different from that of publicity secretary of APC.

Every passing month, the arrears keep piling up. We keep hearing FG is compiling the list, na when e reach 10M per person dem go pay am?

engrjoshua:
to track? or to input manually inorder to get jst TVC ENTERTAINMENT

If you have tracked Amos, input manually, if e still red like Red Sea, brotherly na to climp up go track o.

As much as I will want to console myself with the overused statement: No more minnows in African football- considering the fact that Ghana drew goalless in Comoros (wait! na canoe dem dey take go dia?) and Egypt fell 0-1 in Chad-it was the Eagles' performance (lack of it actually) that got me mad. IMHO it is better we dominate the match and lose than to make Swaziland look like Germany.

I think it is way too early to call for the head of Sunday Oliseh, but he better seat up o. If ordinary Swaziland dey give us this kind wahala, then one drawing board no go reach to plan for Egypt.

I don't see them causing us much problem in though. If the SE play to their potential, I see us beating them 3-0.

Anamachi3:
No space again in our so called drawingboard! Where are we to visit?

Capenters full Nigeria na. They can get us a bigger n better board.

eerekake:
.....24 is gone again.

Nothing can beat IRIB

Anamachi3:
No space again in our so called drawingboard! Where are we to visit?

Capenters full Nigeria na. They can get us a bigger n better board.

shizzy7:
Oliseh is useless...


Keshi was not this bad before he was sacked.

Golden Eaglets are way better than these ordinary eagles. Nothing is super about them.

Easy, he is the Pep Guardiola of Africa

After every major tournanent, we visit the drawing board, yet we have nothing to show for it.

If it was when Eagles were Eagles, this match would have been a foregone conclusion. Over 2 legs we will qualify no doubt. Good luck.

I just hope we will replicate this form in the senior world cup soon.

More goals will come. Osihmen is now getting the balls in d dangerous arears.

The eaglets shld be careful. Na this kind match dey end 1-0

When you think the Eaglets are over aged only to jam that Mali no 11.

If this Mali NO: 11 is U 17, I wonder how he go be when he is 35.

The match is live on ORTB on Amos 5. With a v. good picture quality but commentary is French.

Go eaglets you can do it.

ManTiger:
thanks but it's not green, I only have oromia with TVC entertainment logo.
Is it the same pls!

What do you mean by TVC entertainment logo? If the tp is red, u have to work on ur dish. What decoder are u using?

ManTiger:
Pls, at all, which channel will air tonight's match. I have MultiTV and Amos.

Na beg I dey beg o.

Check TVC Entertainment on Amos 5. TP 11294h 45000

Make I take position dey wait 4 11pm.

pet4ril:
Thats what i use to tell our nigerians...... Its your rught to vote, so don't sell it..... But i wish they will hear cos money is the root of all evil..... How do you expect a man that borrowed money to buy his voters to win election and start implementing his promises when they have their own debt to settle..... Please think twice and desist from this ungodly act og selling your vote....... May God help us all

Actually he is talking of buying VOTER'S CARD now not VOTES. I think people who do this, do it to prevent people from voting, since one cannot vote without the card, n you can't buy my card n use it in another polling unit. Naija strong sha.

The Director General Audu/Faleke Campaign Organization, Comrade Daniel Isah, has advised the electorate not to sell their voter cards to anybody especially government agents.


He accused the Peoples Democratic Party (PDP) of going round the state, buying up voter’s card from the electorate for a token, saying such move will not save PDP from defeat on November 21.


Isah described the said action of PDP agents as evil and criminal which was aimed at disenfranchising the people who have rejected their government of failure and maladministration.


“When you sell your card you are selling your future and progress. PDP leaders don’t care for you, so if you give them your card, your future has been mortgaged,” he said.


He called on INEC and the law enforcement agencies to commence investigations into the matter and arrest the culprits involved in the act, no matter how highly placed.


The DG promised to make names of suspected card buyers available to the police and INEC for prosecution.

http://www.vanguardngr.com/2015/11/dont-sell-your-cards-to-pdp-agents-audu-warns-kogi-electorate/

defemidefemi:
how about ur wife?

She is fine. Thanks. She gave birth to a baby boy.

midehi2:
Eeyaah....i wish her safe delivery bro

make sure you mention me and tell me its a ........ lol

Thanks so much. she gave birth to a baby boy.
@shizzy7 thanks so much.

midehi2:
Eeyaah....i wish her safe delivery bro

make sure you mention me and tell me its a ........ lol

Sure I will. Thanks.

shizzy7:
I know You're joking
Your wife is in labour, and you are typing on NL .You no dey fear...

My 3rd child. Oluwa is involved.

Prepared to watch this match, fixed my faulty gen, stayed awake, n few minutes into the match, my wife entered labour. Arrived the hospital safely n waiting. Good help us.

It was 1-0 (against us) when I left home just noticed is now 2-1 in our favour. Oluwa is involved.

Truly1 I get your point but don't blame anybody here for scrambling that package cos the info is everywhere in the net. One love.