Angelfrost:


Wetin come dey bring Sniper for football banter Egbon mi?!!

Abeg o... Na barbecued chicken and chilled Zobo (Mortuary standard) I go take chill that day watching Fergie001 jump ship as usual!!!

Ask Kyase my guy.

Mortuary standard....e be things

kstyle2:
One thing is sure, if we meet Tottenham, we would give a good account of ourselves. If man utd make it to the finals, we will win the cup

I dey find that Tottenham....pogba get scores to settle with mourinho

Angelfrost:


Nah... The joy of having Pep and Mourinho (legends) waiting on the other side for that Norwegian Sports Prefect is overwhelming!!!

It will end in premium tears

Angelfrost:

Nah... I actually hoped you guys entered semis.
I have great faith in Spurs and/or Man City!!!

No go take sniper ooo

Cheeryfeet:
Everyone is the most useless idiot club, highly overrated fools. Can't even score one goal. Tuuuuaaa

No go take sniper oo...naso e dey start

fergie001:
Cavani is the best PL player......

I told them and they refused to listen.

We call him Big Shoe, for a reason.

Their fellow City Rivals are hiding.....

ghettokid1 emeijeh vickyrotex angelfrost fuckingmallam45 ebukahades10 gbest90 Wordson crazygod kyase ray07 redblood01 theboss100

Where u dey since

Okay...all this road side Journalist, what happened na

Okay

Well, I disagree with them completely... because Nairaland zombies can make all of us register our NIN in 24hours


May God bless our darling daddy
Sai baba till 2090

Okay

It is well

Buhari, very soon...this business you keep doing with Bandits won't be business as usual.

I only hope u don't run away from your state..

You should be giving us account of your the with you have done so far...not when u would retire and become a Godfather controlling those that will succeed you....

FarahAideed:
Too many dull people in NIGERIA ..I can swear this OP voted Buhari

Maybe if u get to educate me, I might become brilliant and sensible like you....

And who knows, I might get to vote for your preferred sensible candidate in 2023...

Someone told me you know it all already...Good for you....but help me get to you level....

Peace.

Truth234:
Rhapsodia I just weak after seeing all the comments. God!

Listen, the Central Bank of Nigeria prints money every year like every other government and they announced it. The issue is people don't read those reports or even understand their importance.

Between 2013 and 2018, the CBN spent N231.2 billion printing about N6.5 trillion. Nigeria has a 4 billion notes printing capacity per annum and printed 2.7 billion notes in 2018 despite projecting 3.35 billion notes.

It is normal that the government print money to cushion the economy and stimulate growth. In economics, it is called quantitative easing (QE) and does not directly translate to inflation as most people have stated above. Inflation results from low economic productivity, a situation where demand is higher than supply (cost-push inflation) or in a healthy economy where more earnings, household income and spending power of consumers continue to rise leading to surge in demand than the aggregate goods that the economy can produce (demand-pull inflation).

Here is why our QE has not been effective like the USA, Euro, Japan and others.

The difference is in the deployment. The CBN inject printed MONEY back into the economy through treasury bills, bond sales, generally capital market. The CBN sells those to raise capital and in return pay investors (their capital plus interest (yield)) when those mature. It pays them from the money printed while the government uses that money raised to finance capital projects.

In fact, you might have heard of N5 trillion that banks and some other individuals owe AMCON, that money comes from the CBN printed money used in acquiring bad debt to prevent job loss and catastrophe in the banking sector. CBN acquired those debts with their expected interests (debt monetization) to keep the banking sector afloat.

In the US, the Federal Reserve (US Central Bank) used QE to buy mortgage-backed loan products, debts of Small and Medium loan providing companies and organisations to ensure that people and companies affected by COVID-19, bad economy, etc can still function and continue to contribute to the larger economy. For instance, small and medium business loan focus companies in the US are currently ready to loan anything for any willing business because the US government has to told them it will buy all their debt. Meaning, they should not be concerned with rising bad debt but focus on borrowing based on certain criteria to ensure all hands are on deck to aid economic recovery. It means by keeping organisations in business new job creation will continue to increase and job loss during the peak of COVID-19 will gradually moderate while the US government bear all the cost until those businesses are back on their feet to pay back those loan at ZERO interest rate.

In Nigeria, the money goes into the economy through the elites while the manufacturing and businesses continue to struggle with high-interest rates. US lowered interest rate from 1 percent to Zero and still buy all the debts to ensure loan companies also do not plunge into debt without interest rates used in covering operating costs.

Please note that US and other developed nations always know the total amount printed and injected into their economy and when the economy recovered from recession they always withdraw it back. Hence, while they've been able to manage their inflation/money in circulation better.

It is simple, an economy produces what it needs to survive. The printing of money or QE is to engineer it back to that level following an economic crisis and then take it back to allow it to function independently.

I am not sure Nigeria can account for her QE. For instance, I can tell you US total QE as at today is about $700 billion, I can't say that about Nigeria.

Boss, may God bless you immediately...this explanation is detailed and easy to understand...I appreciate.

It will end in tears

SUPERPACK:
Our foreign creditors don't spend naira, they spend and receive dollars. So after printing the naira it will remain here and be useless to us because they will still have to exchange it to dollars before leaving the country.

So what if, after printing the Naira, we use it to buy dollars from central bank and send it to China bank account??

tatatar:
Same way you can't create a car,house, foodstuffs,clothes....products and services out of thin air then you shouldn't just print money because money represents these things. Doing so would lead to consequences like inflation,in other words just printing money doesn't actually create money,you've only transfered the cost to others.
The money is just paper and has no value on its own .See it as an advanced and convenient form of trade by barter. The money is proof that you own or earned that amount of product or services and hence can be exchanged for its equivalent product or service.

I love this your last paragraph....sense wan kill you. God bless....

BRIGHT180:
There has to be a delicate balance between the naira in circulation and the forex made from export else we go the way of Zimbabwe so the challenge then is not moey note printing but more productivity, more engagement of our natural resources(beyond crude oil) and human resources to generate more forex to properly run the country and comfortably clear our debts which by the way should not(because it can) be paid once for it's adverse effect on the country economy but rather paid in the staggered way we have agreed like how you pay back a bank loan

"...generating more FOREX"

Please, I really don't understand this thing with forex...can you break it down? I am tied of pretending to understand it.

Sammy07:


Reasons.

1. introduce hyper - inflation
2. destroy the value of the Naira
3. cripple manufacturing
4. prepare for mass unemployment
5. destroy your standing in international financial markets


Op if you're a farmer and suddenly you jam plenty money, will u farm again? I bet no. So what will happen to the ppl that buys the food from u? Same wit doc, hair dresser, lecturers etc non of em will waanna work again.

I like this your example, oil dey your head.....am learning

Good evening Nairalanders

Please help me understand some things in governance.

Considering the huge debt the country is faced with under this Buhari's Government, why can't the government print money in the CBN and pay the lenders??

Thank you so much.

hisexcellency34:
Lies. Are these the BBC reporters begging Garba Shehu for selfie

My brother naso e follow shock me

Okay

Worst opposition in the world....goan learn from democrats in trump regime...

Something that u would have began legal proceedings....stay on social media and lament....

Okay

CPC has hijack the entire party structure

Government of the north, by the north and for the north....APC will still retain chairmanship till 2023...watch and see...

Chia


APC will soon explode

Very Sad....then no fit pay the small money cef

When you thought u had seen it all

Faithful lagosians will not like this news

Chia
Shame dey catch me....for my country...who we offend..

Okay

Cry me a river

Will you allow our votes count


Something that's INEC has already drafted the winners and losers of 2023 elections.

CLOWNS

Justice for AFROSIX JAARA

https://www.nairaland.com/6261730/aksu-suspends-student-allegedly-abusing#96162146


Let's support this movement and move to front page

Justice for AFROSIX JAARA

https://www.nairaland.com/6261730/aksu-suspends-student-allegedly-abusing#96162146


let's support this movement and move to front page