₦airaland Forum

IbeOkehie:
But the naira has NOT been floated. That is a clear and objective fact. The EVIDENCE is the difference between the REGULATED CBN RATE and the FREE MARKET or parallel market rate.

A floating currency has no regulated rate, the producer of that currency doesn't DICTATE or FIX its price. The producer is the Central Bank of the nation. They only set the INTEREST RATE at which they will lend out the currency, which is their right.

The Central Bank of the USA is the Federal Reserve. It doesn't FIX its currency price, that is, the price of USDollar.

Fixing currency price ALWAYS FAILS in the long run. The UK and Switzerland tried and failed. It doesn't work and worse, it distorts and harms the economy and productivity.

Look around the world, the most prosperous economies have FREE FLOATING currencies. All we have to do is COPY them. Ask yourself WHY a government would want to CONTROL currency price? Simple....round tipping.

If at all a country must regulate currency price, it's actually best to SUPPRESS the value of their currency because it makes their exports more competitive in the world market

Nigerians like to say "but we don't produce any thing for export" and that is the point. A devalued currency PROMOTES exports. With time, business people in a FREE MARKET will find appropriate goods and services to export. Right now, in our face, Nigerians are trying very hard to export LABOR because of the falling value of naira. Hellllooooo?

Again that's EVIDENCE...the free fall of the naira has REDUCED imports and promoted exports. Nigeria is definitely not importing the same amount of cars and shoes as it did when the naira was say 400/$.

The REAL PROBLEM in Nigeria is that the economy is NOT a free market. Government controls everything and that suppresses innovation and productivity too. LAND is a basic factor of production but ONLY GOVERNMENT can own land. And there's strong import bans and preferences enforced by government. These PREVENT business people from making good choices for investment.

It's important to state - the naira is still a regulated currency. The same Emefiele told us he floated the naira back in 2016.

And there's still a subsidy on petrol in Nigeria.

People please get some economic knowledge, it's important.

Good Luck to Nigeria.

Seun:
How many times should we tell you people that the exchange rate system is managed and not floating? I'm tired of all the misinformation.

EEIA:
do you give your customers puff puff as souvenir after doing business?

Alearna:
Go to school on empty stomach.

Comeback to cook after school circa 4pm.

Rinse and Repeat.

On repeat!

Uprightness100:
The money of HAMAS, REVEALED: How exactly does Hamas get the money for their INSANE terror operations?

In 1987, amid the first bloody intifada, a new terror organization was born in Gaza: Hamas.

Hamas runs its vicious terrorism and the Gaza Strip on a budget of $3 BILLION a year.

Terror organizations are also economic cartels. Without cash flow, Hamas can't attain weapons, training, tunnels, salaries, or terror attacks.

But where is Hamas's dirty money coming from??

1. Iran
The evil head of the snake, the Islamic Republic of Iran provides their proxy Hamas equipment, weapons, training, and up to $350 million a year.

2. UNRWA
UNRWA's annual budget is $1.5 billion, and $325 million goes to Gaza (Now defunded by many).

3. The Palestinian Authority
One of the top providers, the PA gives Hamas up to $1.2 billion a year.

4. Qatar
The largest sum of overseas money is from Hamas's cruel patron, Qatar. They funnel $360 million a year.

5. Taxes
Hamas charges taxes from Gazan residents - even the poor. They collect $350 - $400 million a year.

6. Charities
Several charities throughout the world raise about $100 million a year for Gaza. Many are unaware they're actually paying for terror activities.

7. Business Endeavors
Hamas owns several businesses in countries friendly to its causes, earning $2.5 billion a year.

How does Hamas get away with this all?

Since many classify Hamas as a terror organization, very harsh sanctions are imposed on them

But overseas money still reaches Hamas, through corrupt banks, money-exchange networks, shady money laundering, and cryptocurrency.

They prepared for the war they started on Oct 7 EXTREMELY well, with a huge underground tunnel city, resources, and tons of weapons.

Hamas's billions of dollars and their evil Islamic Republic of Iran masters don't help the Gazan civilians' lives.
On the contrary - they make them worse and silence ANY opposition to them.

(Marni on X)

Okechinwadike:
all is an avenue to stop APC but agbadorians refused to listen. nobody should blame tinubu, blame agbadorians the are the major cause of Nigeria woes

Okechinwadike:
please stop disturbing innocent God and blame agbadorians abegi

Yujin:
If the working class are not adding value, is it the unemployed that are adding value?
Are the politicians in power among the 81% non-valua adding workers?
Stating that less than 5% is the unemployment rate ìn Nigeria is a criminal offence because everyone knows he's lying. Anyway, it's the Nigerian thing to lie so I leave him to his device.

ogododo:
About 81% of Nigerians in the employment pool are not in any productive sector of the economy, the Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, has said.


https://dailytrust.com/81-of-working-nigerians-dont-add-value-to-the-economy-presidential-team/