₦airaland Forum

Houseofglam7:
@Op, you try.

Some peeps could find it insightful and useful

OluwaChinenyenwa:
And you will forever be shallow though!!
Pick up a book and improve your I.q
I hope that helps. .

When you are done, pass the book down to the O.P to also do him some good..

OluwaChinenyenwa:
Ohhh
You admit I have every right to my opinion?
So why did you term it being bitter in the first instance?


Well, thanks for for acknowledging that we all have different ways of reacting to things, especially a crappy list like this.

You are still very shallow though

My Opinion!!

OluwaChinenyenwa:
Lmaoooo

Engulfed with bitterness you say??
Please define bitterness??
So you bring out some hogwash and some peeps countered it and you term it bitterness
So I have no right to have my opinion??


What a very shallow way of thinking. .

Well, my opinion about you is that you are SHALLOW!!
Feel free to have a different opinion. .

OluwaChinenyenwa:
My ambition can and will never depend on anything your likes produce. Never


Analyze in a what way?? Did you miss the part where some peeps made their humble observations and your Emusmith was quick to jump in on them.
Talk about diplomacy. Rubbish

Abi he is immune to being diplomatic??
Call a spade a spade and not a broom.
Asslicking won't take you anywhere


My day was fine..

scentmarlc:
Yeap baba.....


Rebranding is still on bozz, you will be the first to know as soon as it lands

OluwaChinenyenwa:
Nice one??

Please when are we expecting your own list of "50 things women should not do when they get married"?

Cause that's the life you and your likes are all about on NL
And then the cheap "Likes and shares" you get from your fellows who can't take a countered opinion.

ronald4lif:
Interesting comments.

sonofananimal2:
MY SIGNATURE SAID IT ALL

989900:
If our refineries work @ 90% capacity, we should be getting roughly 17-19 million litres of PMS alone. Then you get some AGO, DPK and e.t.c. And if power maintains the momentum/improves and smuggling to other countries is checked, then we wouldn't even be needing the falsely touted 40 million litres of PMS/day.

We likely won't need to import more than 15-25% of what we do now. And that is quite some breather on forex which refined petroleum products alone account for roughly 40% or more presently!

Take out import of some other silly items, plus local production growth -- the Naira appreciates!

Then we need to tackle excess liquidity created by the CBN.

andyanders:
It is not possible for the naira to appreciate to 160 to per dollar is the next 6 months.This is because we our export cannot exceed our imports to earn us foreign exchange.The oil price has crashed and we are not producing in order to start earning forex.

So tell me how you can force the naira to appreciate within 6 months.
You can ONLY start making meaningful progress when we start exporting our locally manufactured products.

barcanista:
Is the value of the Naira really appreciating in the real sense or the CBN and the FG are playing pranks on Nigerians? Why are commodities still high in the market?

Ideal Situation
Ideally, customers operating domiciliary accounts will go to the banks, deposit their dollar and through that account they do whatever transaction that they deem necessary. The Banks inturn will take the dollars(and other foreign currencies) to the CBN.

The Buhari/Emefiele Situation
1. The CBN has stopped receiving dollars from banks, as a result the banks has stopped accepting dollars at the counter because their vaults are full.

2. Because of the restriction at 1(above) the demand for dollar reduces in the BDC. The BDCs seek every means to trade the currency including reducing the cost at the black market. The CBN will go to the press to scream "NAIRA IS APPRECIATING."

3. As a result of 1(above) the banks also refuse to request dollars from the CBN's foreign exchange reserve. The CBN will then come out to scream "RESERVE IS GROWING".

Is that the best way to manage the naira?

Salient Question and Effects:
1. What happens to a businessmen with domiciliary account seeking to deposit dollars and transfer to their partners abroad after buying the dollar from BDC or Bank?

2. The bank's refusal to accept dollar deposit means business transaction on that will be halted. Because no domiciliary account holder will be willing to withdraw from his account when he knows that he won't be able to make further deposit due to the CBN's policy except if his intention is solely for converting the dollar to naira for local transaction.

3. Instead of doing transactions from domiciliary account, businessmen will be left with no choice but to operate domiciliary account in neighbouring countries where they will be making transactions or resort to wiring money via Western Union in neighboring country.

4. As a result of 3(above) the cost of commodities will go UP because businesses will make up for the extra expenses. Also, that will mean reduction in business activities in the banks.

5. Should the above persist it will get to a certain point where there will be scarcity of the dollar in the market. When it get to that point, the dollar rate is astronomically shooooooot up in the market because demand will outweigh supply. At this point, the naira problem will be worse than it was.

Is The Naira Really Appreciating?
Make no mistake, the naira-dollar rate is yet to appreciate in the international market. As at May 29 the naira/$ rate was N199 in the market. The rate as at today Aug 5, 2015 is still N199. You can't appreciate a currency via the backdoor. Even the black market rate cannot be regulated through the back door.

What "Sane" Countries Does:
The CBN Governor Godwin Emefiele made it look like one can't deposit foreign currencies in cash in another country. This is contrary to the facts on ground. No country will shut down foreign currencies transactions in banks. Let me give two instances...

On February 27, 2015, the Central Bank of Egypt instituted a new policy to help the Egyptian pound. As part of the policy, Individuals and businesses are allowed a maximum of $10,000(or equivalent) deposit daily and $50,000(or equivalent) monthly. The measure would stop companies from buying large amounts of dollars from the black market and then depositing them briefly in banks in order to open letters of credit for imports.

In China the maximum daily deposit/withdrawal of foreign currencies is $10,000(or equivalent).

Is it not better to place a transactional limit for foreign currencies than discourage deposit completely(that will solve nothing)?
We don't produce, we import, we have no policy to promote local production nor infrastructures in place toencourage manufacturers, yet we expect the naira to appreciate. That is no done anywhere.


I will be glad to get the views of others.


God Bless Us All

adeh39:

derecho:
Unfortunately, this means nothing to the poor man on the street. The price of foodstuffs hasn't reduced. The elections are over please. Nigerians are not interested in all these propagandas.This should translate to cheaper foodstuffs,we should buy kerosene cheaper than before if the refineries are now working.

HungerBAD:
At the end of the day, we ordinary Nigerians are better off than these big men.

We don't owe debts, our property's are not held as collateral for loans, we make and use our money wisely.

No wonder they will kill to hold political positions, it is the only way they can pay their debts and maintain their lifestyle, which would be to loot Nigeria.

Thank God for Buhari, let us see how these thieves will pay their debts. An attempt to Okonjo Iweala's Nigeria's purse again, is a one way ticket to Kakuri prison.

Our banks are working.

Buhari is working.

All these BIG men debtors should pay up.

omenka:
We should understand one thing- PDP doesn't want Buhari to succeed, it is their only hope of getting back to the dinner table. They fervently pray and wish, just like their NL supporters, to see Baba fail woefully and have all nigerians groaning under immense hardship.

Against all odds, this policy appears to be working, but the government should be wary of these nay sayers- they would do anything to sabotage the system and have us stumbling into the abyss.

Just as they criticise this, watch it, when the time comes and the arms embargo by the US is finally lifted and significant upgrade of our military complex is being made, this same PDP and her minions that have been throwing tantrums over Baba's "failed mission" to the US would be the same people to accuse him of "militarising the country and plunging us back to the 80's"!!

I believe very strongly this man will succeed in his mission to dig Nigeria out the ashes and give her a good dress up to the admiration of her neighbours and the international community.

May God bless and renew his strength everyday for our sake.

adeh39:
Wetin.......I know say ur own go worse pass Op own

adeh39:
Lol.....dem don go hide

Midehi:
abi o.
oya wristbangle, tunnamania11, peeparty, scentmarlc, ronald4lif, all of una report here and confess your cooking skills...dont lie o..

femi4:
Friedplantain
Yuzedo
Sexkillz
Logicboy
Logicman
Logical
Ileke idi
Unibenstudent
Iyawitch
Fuckmelord
Imsuboy

Judas2013:
Jesus is a bastard

ronald4lif:
Wristbangle, I sight you too boss. Respect!

2dice:
hmmn... Anything for your boy

2dice:
Boss .. I dey like 24hours ... And you?

DrAify:
Yeah.You?

Ishilove:
Yeah but I haven't read it. Sorry about that.

Truckpusher:
Yes ma'am .

What's on the menu list tonight?