₦airaland Forum

So what

YorubaMuslims:
Nigeria have thousands of people like this man but doesn't care, all they know is how to use N5billion to buy US tech whorth N5million and pocket the 4.5billon naira change for their unborn children

https://www.youtube.com/watch?v=ZOADt9BBJCQ

TayserMahiri:
That was excellent, until you reached at "It's not the Nos of banks but how much are in it's vaults". Kenya has 36.4 % of its money in its vaults, while Nigeria only has 17.9 %. Don't tell me this is why you put the thing as a link? Apart from the absolute terms, which we agree Nigeria has its oil and population going for it, in actual stocks relative to what the economy makes, kenya has double percentage-wise. That actually tells you there is something really wrong with Nigeria, because where is the rest of the money? There aren't many, if any, mega projects we can say the money is going to. Which tells you that the GDP figures are very suspect. Could be the reason you guys are devaluing the naira that much? Because the naira is being forced to do something.

@TayserMahiri
GDP
Nigeria: 570B USD (2014), where bank deposits is 92.5B USD i.e 17.9% of Nigeria's GDP
Kenya: 61B USD (2014), where bank deposits are 22.2B USD i.e 36.4% of Kenya's GDP

Nigeria's depositors funds is greater than the GDP of Kenya. 1.5 times more

That actually tells you there is something really wrong with Nigeria, because where is the rest of the money?

Were talking about GDP here Gross Domestic Product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly).

There aren't many, if any, mega projects we can say the money is going to.

https://www.thisdaylive.com/index.php/2017/03/09/1-2bn-debt-three-nigerian-banks-move-to-take-over-etisalat/
$1.2bn Debt: Three Nigerian Banks Move to Take over Etisalat

Could be the reason you guys are devaluing the naira that much?

Naira has not been devalued. .

I wont talk to you again. Your not on my level intellectually !

The thing dey spoil motor... figured it out since secondary and university days... Your motor go dey get small small foolish problems!