₦airaland Forum

Suprnov3r:
So your brilliant comeback is to evoke the chinese slowdown as a way to validate buharis senile forex controls?

Puhleez, try harder. China and Nigeria are not in the same page. I brought china only to show that whatever buhari had in mind to achieve was dead on arrival. It is an archaic system that doesn't work. The chinese control theirs but with a system that is totally unworkable here. Let's not make this about China


What did he gain by doing that?... nothing. Naira still slumped afterwards as you pointed out. All the dollars were pulled out immediately he relaxed it


What did we loose by doing that?... investor confidence, everyone rushed out even those that were not directly hit by oil price slumps. The lack of investment has pushed more pressure on the naira dragging it down to were we are today


Bottomline is that China owns the largest portion of US govt bonds outside of the US. Nigeria has no basis trying what buhari attempted. Only a foolish man will go to a gun fight with a knife.

Everyone including IMF adviced against that move. Moody downgraded Nigeria. The world bank and all thinktanks around the world cannot be all wrong.Your hero obviously is a stubborn man and his stubbornness is costing millions of people their livelihood. It is foolishness to edge him on



Your assertions begs for a reply.

The MPR is usually raised to match the inflation rate. This is done so as to ensure their is sufficient funds in the banks to forestall banks crashing if people panic and mass withdraw, hence it is a precautionary move.

The problem is that the govt is directly driving the inflation through tighter controls on every sector at the same time. They cannot be closing borders, tightening forex, banning imports at the same time increasing taxes and deploying TSA. The cumulative effect is CAUSING a STAGFLATION

They are abusing the economy. It's like beating a child over and over again with different policies and expecting the child not to cry. Inflation is the natural tendency of such a battered economy. To make matters worse they are now increasing MPR to protect banks from a liquidity crisis. The only cure for this inflation is to allow the banks give out more money by reducing the MPR for investments to flow but they are doing the reverse.

In fact, I give kudos to Nigerians for being too patient.and resilient. Countries like Greece didn't see these kind of wahala before they screamed for bailouts.

It is all good sha. I don tire to type. Whatever they do we are all in it together

Suprnov3r:
So your brilliant comeback is to evoke the chinese slowdown as a way to validate buharis senile forex controls?

Puhleez, try harder. China and Nigeria are not in the same page. I brought china only to show that whatever buhari had in mind to achieve was dead on arrival. It is an archaic system that doesn't work. The chinese control theirs but with a system that is totally unworkable here. Let's not make this about China


What did he gain by doing that?... nothing. Naira still slumped afterwards as you pointed out. All the dollars were pulled out immediately he relaxed it


What did we loose by doing that?... investor confidence, everyone rushed out even those that were not directly hit by oil price slumps. The lack of investment has pushed more pressure on the naira dragging it down to were we are today


Bottomline is that China owns the largest portion of US govt bonds outside of the US. Nigeria has no basis trying what buhari attempted. Only a foolish man will go to a gun fight with a knife.

Everyone including IMF adviced against that move. Moody downgraded Nigeria. The world bank and all thinktanks around the world cannot be all wrong.Your hero obviously is a stubborn man and his stubbornness is costing millions of people their livelihood. It is foolishness to edge him on



Your assertions begs for a reply.

The MPR is usually raised to match the inflation rate. This is done so as to ensure their is sufficient funds in the banks to forestall banks crashing if people panic and mass withdraw, hence it is a precautionary move.

The problem is that the govt is directly driving the inflation through tighter controls on every sector at the same time. They cannot be closing borders, tightening forex, banning imports at the same time increasing taxes and deploying TSA. The cumulative effect is CAUSING a STAGFLATION

They are abusing the economy. It's like beating a child over and over again with different policies and expecting the child not to cry. Inflation is the natural tendency of such a battered economy. To make matters worse they are now increasing MPR to protect banks from a liquidity crisis. The only cure for this inflation is to allow the banks give out more money by reducing the MPR for investments to flow but they are doing the reverse.

In fact, I give kudos to Nigerians for being too patient.and resilient. Countries like Greece didn't see these kind of wahala before they screamed for bailouts.

It is all good sha. I don tire to type. Whatever they do we are all in it together

naijababe:
I personally would love to see some regulation at exit not entry.

DCTrendy:
What re you saying?

Emefiele just reduced the money transfer agents to 3 last week!

In 2015 alone, Nigerians in Diaspora sent home over N6 trillion Naira. But your CBN governor is doing his best to reduce means of sending money to naija to just 3 companies.

You dont even need to have C6 in O'level Economics to know that was a really bad move.

Every country throws their door open and receive inflow, but CBN is closing your own and you re here defending him?

If i give you a stud ehn....

mecedonia:
Following the withdrawal of the INEC lawyer from the Appeal Court which ruined a major part of the Uche Ogah plot to become Governor without contesting any election, Mr Nwuruku angrily told the other officials that he will no longer share the money and the vehicles, currently parked at his Ebonyi home, with them as they have failed to deliver. He insisted that he is the only person who delivered and even put his career on the line by going on national television to defend the hasty issuance of certificate of return to Ogah... and the vehicles he will expose him by leaking details of how he received the money from Ogah at Nicon Abuja.
the iron cast appeal of Governor Ikpeazu prepared by Wole Okanipekun SAN.

The appeal court yesterday chased away the lawyer and representatives of Sheriff at the court and adopted the briefs of Onyechi Ikpeazu SAN....

Johnnoo:

Propropro:
Useless man fooling his gullible supporters that he is a true democrat. A man who should be locked up or tied to a stake and shot for fun for supervising massive corruption

kaeforum:
Solar energy will not power the industries in the east, FG should with immediate effect grant license to operate for the power station built at itu by Prof Barth Nneji.
That plant when activated will power all the eastern and SS states.

Solar power is only good for rechargeable lamps, bulbs and charging phones.

We need something that can power our machinery in the factory and industry.

Excellence12:
Easteners have already sealed their destinies to heart. Without or without solar system, we don't care for we do not invest in the govt from time immemorial.


At the end of this administration, those that suffered, stressed, insulted, battered and even enslaved for it's sake will be the ones to trample upon...mark my word!!!

Excellence12:
Easteners have already sealed their destinies to heart. Without or without solar system, we don't care for we do not invest in the govt from time immemorial.


At the end of this administration, those that suffered, stressed, insulted, battered and even enslaved for it's sake will be the ones to trample upon...mark my word!!!

manisah:
I don't believe on APC, until I see them start building it. APC is a promise and fail Government.

davodguy:
Mumu. Ask your fellow yeboos if I'm lying

davodguy:
Igbos will die of hatred. I'm at the car wash centre and one idiot is here fighting me cos he saw the APC sticker on my car. The idiot said, since Bulgari promised change. Why is my car dirty? I was like WTF is this?

All filled with hatred.

planetuzor:
Someone , I had a course to visit Abia state, Aba and the the other cities and was dumbfounded at the amount of dirtines, comartose and delapedated nature of the state environment .
No thanks to its past governors at all
Orji uzo kaly
Ochendu T.A orji
And the present ikpeazu...

I felt the commercial nerve centre of the east shouldnt be this worst and yet they are clamouring for ceassation .
Please don't get me wrong, am also from the east but the state of Abia interns o road, infracturer and state building are very very bad not leaving out the debris and touts that covered every area of the city.

I couldn't help but think back how the only man who in my own opinion would given a face lift to Abia state as he did with diamond bank wasn't voted to power in the just concluded governorship election..

See pix below

ManMountain:
So exactly what is your point?

Beremx:
It's because of Jonathan. just imagine Obasanjo said it, you will know the real IPOB miscreants.

ManMountain:
I don't know we still have quite reasonable amount of Igbos that can debate and marshal their points without a recourse to insults like these iPob idiots that litters NL.

achi4u:
So, all the south Eastern States are now on the same roll even Imo and Abia that are oil producing state?

Udmaster:
Nicely Put. Aba have a seaport potential at Obuaku.
A governor with a vision will revive Aba. Either Ikpeazu or Ogah.

lordimmaogidi:
Ada Ogwahi uku

aresa:
Abeg make EU no see these embarrassing dirty and unhygenic foto o because den go just ban everything from naija...