₦airaland Forum

This sounds nice. Can it be a cost-effective option for concrete roads, as an example 1000sqm street road?

PassingShot:
Of course we're talking abt FR.
I know the FR is not a physical money account. However it can be depleted by certain actions of cbn sanctioned by the president plus failure to ensure that all foreing earnings are paid into the account. That's what largely happened during GEJ hence it didn't grow.

If course diversification of the economy is the way forward but it will amount to being economical with t h e truth if we pretend GEJ didn't have anything to do with our current state of affairs.

Guy, all our leaders have failed us and don't single out GEJ as the fall guy to give a bad name so you can hang him. Your references to ECA funds and FR/FA are wrong analysis. I agree there was high-wire corruption also during GEJ, but it has very minute empirical influence on our current Exchange Rate regime which is dropping badly now. Baba Pmb still against Devaluation and Tinubu and Co had to shout for Baba to agree fuel subsidy removal. There are some things we can't hide from, we need tighten our belts and rework the economy. But if we treating the wrong symptom, dead will come knocking

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

With such blame game, we will keep having problems looking away from main problem and finding solutions. First, I don't know where you got the average $100 crude oil price during GEJ admin. And I'm sure you can dig out prices of crude oil under Abacha and the exchange rate trend also during his regime. Secondly, I'm sure you meant 'Foreign Reserves' when you wrote 'Foreign Account'. To guide you, it is not an account you can physically see and withdraw from. It is a reflection of Your intl balance of payments and virtual. If not, you can as well say PMB too has drawn about $300m from it in the past two weeks.

We should look to diversify our economy quickly and not just pass the blame. Our leaders especially during those days of the military destroyed our insitutions and infrastructure and we need strong visionary leader to help drive our economy away from oil and it's latent price shocks

I hope PMB will not seat Down and believe only His aides. As more revelations are coming out with facts, he needs to probe this as a matter of Urgency

binoosmart:
You lied bro

#Bello_Fairplus is the man

Just Incase you don't know.

I also repeat Faleke is the man. At least we all saw how Dickson was declared winner of Bayelsa Elections despite the higher number of cancelled votes

kingsleyuk2003:
Please can anyone confirm if travelex sell cheaper at the airport to passengers?

Yes, Travellex sells cheaper. Usually within 7-10% above cbn rate. However, for some weeks now they ran out of cash and not available

@tomi, pls post your complete phone number and where in Ilorin are you based?

refreshrate:
5192 sq.m of partial development available for sale in Jos plateau State.
In the Gold and base area not far from the Jos international Brewery partially built structures in place with original intent of building a hotel/resort

Inquiries to ckcint@inbox.com

thanks

Sent you email. Need pricing and inspection details

PassingShot:
Your problem is the understanding of "dipping hands into". You must think that FR cannot be corruptly be depleted by "dipping hands into" since it's not physical cash.

Interesting. Pls publicly help to solve my 'understanding' problem. Nairaland is for many people to learn. Kindly explain how Foreign Reserves can be 'dipped' into? Maybe example how you knew Past administration 'dipped' into the reserves will help as mentioned by you?

PassingShot:
@ the emboldened, I hope you don't really mean it; especially the first part that says it an't be dipped into.

Chai, there is God oooo.

Yes, junior student in international trade finance even knows this. IT CANNOT be 'dipped into'. It's not physical cash, it's not money kept in an account. It's not a cheque. Foreign Reserves are not vaults

PassingShot:
Unfortunately this is where GEJ and his cohorts brought us.

If you like, call it blaming or whatever, it is the dollarized foreign reserves that determine the pressure on naira. And it is the same reserve that Jonathan dipped his hands and that of his comrades' to loot like there was no tomorrow. Now that the "tomorrow" is upon us, we're excusing them instead of calling for their head.

Una never see anything!

I make bold to say You are wrong, unfortunately I understand because you took line and sinker what was bandied around during the elections. And now Hunter becoming the hunted.

In simple terms, The Foreign Reserves is not a physical or bank fund like your vault that can be dipped into. It is a virtual balance of trade figure based on your dollar inflows and outflows. Under Gej, the cbn also didn't want to devalue the Naira and used the reserves to defend the Naira hence the reduction especially when oil started downward slide.

Now, this administration knows the noise made during elections on how reserves were depleted and also their promise not to devalue the naira. So in keeping with their words, they have been boxed to 'protect' the reserves and thus restricting items that can affect it .

What do I see? Reality has dawned now on PMB. And of course CBN knows this. From pmb budget and cbn governor statements afterwards, it is clear we will now have a devalued Naira in 2016 and reduce the pressure on the Naira.

No political sentiments now..it is a core economic fundamental issue we refused to address over the years especially the dark military era

goodlifehyd:
Still surprised why that cbn governor haven't been served the right letter. Someone who doesn't know the implication of giving Dasuki millions of dollars. Someone who the dollars took a nose dive under his watchful eyes and had his arms folded like a jjc

And you think the idea is his and not the President? He is working on the Presidential order not to devalue the Naira and protect the reserves. Both the Presidnet and VP have reiterated this severally

All these names listed are political neophytes. So why didn't Yahaya Bello accept the act of God when he lost the primaries to Audu? And for power shift, if Tribunal declared the election as won by Audu/Faleke, there will definitely be power shift to Faleke as Governor

She blames the Cbn Governor and not the administration?

Hammefeez:
This Faleke No know anything about politics oooo. Chaiii.....Ask Saraki about party supremacy....... Them go forget him now.... No be Tinubu appointed him to go and deputize Audu? Who know him for Kogi before? Mtcheewwwww

Must be Yeye party supremacy. When Bello refused to work for Audu/Faleke and campaigned against Apc in the election, what did the party do?

There are always many fake publications sold in camp during programs with fake screaming headlines. same way many fake newspaper outfits exist at many vendor stands.
Rccg definitely has nothing to do with those publications, please

Please can you send your address?

TinoTino:
Now available

Lovely. is this presently at your Toyin street showroom? Pricing?

TinoTino:
Dinning 6 seater

Tino, how much is this 6-seater Dining set?

Question2015:
How can I send Dollars from the United States to Nigeria and the recipients will get it at the parallel rate or get it in Dollars? Western Union and Moneygram are giving the official rate (less than 200 Naira to a Dollar) to recipients. Thank you.

The recipient should open a domiciliary account so that they can have access to the dollars

lionness:
I guess Buhari is at fault for the fall in oil-price? GEJ who met a brimming treasury loaded with $55billion and over $20b in the ECA watched as his Biafran cohorts looted everything, and he was bold enough to boast he left $1billion in the treasury.
Its normal for this bunch of losers to point at Buhari, I dont even know ONE single Ibo Minister under GEJ who didnt loot the shyt out of the treasury, thats why till today, not ONE single person from this region could convince Nigerian he's a worthy presidential minister.

No need to always narrow it to Pmb vs Gej. The reduction in ECA was also due to falling oil prices and requests by governors who went to court to access the funds. Same reason also for reducing External reserves in both administration.

Lovely and Royal!

Pictures? Availability? Pricing?

Faleke is clear on his case- Inec erred by declaring the Nov election inconclusive. And that is what he will pursue in court solely.

Would have been easy to assimilate with Yahaya Bello if not that Yahaya refused to campaign for the Audu/Faleke ticket and did anti- party gathering votes for Pdp in the Nov election. Faleke knows they are not on same plane with Yahaya

acunon:
Okay bro, there is currently a samsung 55 inches 4k Smart tv led available nw.

How much is your samsung 55-inch smart tv? and is it the Curved?

It is really pathetic, despite the cosmetic over-protection of the reserves..

For those that celebrated the marginal increase then in Foreign Reserves with claims it was due to body language..

Can see it is truly a student account

SSS officials do rob?? Then we are in a failed country!

Both are products of NANS. National Association of Nigerian Students

Obj does not have a Twitter handle. He communicates in signed letters, some of which he makes public using his press secretary

maupe:
Faleke has gone against Party supremacy and has disobeyed the leaders of the party. I am not talking about inviting the police to wade into the matter, I am talking about he been disciplined by the party.

I understand that part, same way Saraki has been said needed to be punished. And Fairplus also for anti party after he lost the primaries.

maupe:
Faleke must be used as a scapegoat, if APC ever hopes to become a structural party. The time to punish and expel Faleke is now.

Faleke did no wrong. He is going to court.

Supporters protest is not a crime. If not, PMB would have been picked up or punished when he loses an hi supporters go on Killin spree