Analysts believe the government is planning to officially devalue the naira from its current rate to the dollar, in a desperate move to strengthen the ailing economy. Experts say the economy might shrink again in the second quarter which ends in June, a development that will effectively usher in recession in the economy.

The CBN governor said the new policy would not involve the return of the bureau de change operators, as they would continue to source their foreign exchange from the autonomous market. During the meeting, monetary policy rate, MPR was retained at 12 per cent; Cash Reserve Ratio, CRR at Emefiele lamented the poor performance of the economy in the first quarter of as a result of rising inflationary pressures from severe shocks related to energy shortages, price hikes, scarcity of foreign exchange and depressed consumer demand, among others.

The National Bureau of Statistics said domestic output during the period contracted to 0. Noting that many of the conditions fuelling inflation in the economy were outside the direct control of monetary policy, the CBN governor blamed the long delay in the passage of the budget, which created several distortions in the system, particularly on investment.

Emefiele recalled that the MPC had hinted in July about the possibility of the economy falling into recession if appropriate complementary measures were not taken by the monetary and fiscal authorities, saying the budget impasse had constrained the fiscal stimulus to the economy.

Consequently, he said the Committee had mandated the CBN to implement reforms that would promote greater flexibility of rate and transparency in the operation of the inter-bank foreign exchange market.

As part of resolutions at the end of the meeting, the CBN governor said the committee reaffirmed its commitment to maintain price stability by voting unanimously to adopt greater flexibility in exchange rate policy management to restore the automatic adjustment properties of the exchange rate. Other resolutions included to retain monetary policy rate at 12 per cent; cash reserve ratio at He said the CBN would however retain a small window for funding critical transactions in the areas of support to importation of plants and equipment required to stimulate production of goods whose raw materials are available locally.

The flexibility policy, he explained, did not mean the restoration of the bureau de change operators and the supply of dollars by CBN to them to fund their businesses, saying they would continue to source hard currency from the autonomous market. On the impact of the scarcity dollar on fuel supply, the CBN governor said the fuel pricing template was still capable of guaranteeing reasonable profit to the petroleum marketers even if they sourced foreign exchange at over N to the dollar to import fuel and sell at the capped price of N per litre.

DOWNLOAD THE PREMIUM TIMES MOBILE APP. These 3 Foods is Killing Your Erection. Click Here to Know Them This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES. Where is the money made under the Jonathan administration? FG should consider making offers that cannot be refused to all the people implicated in the looting. My Dear sweetheart Rommel, Dont be an hedeort.

What about recovering some loot from Obasanjo, IBB and Abdulsalami? I refer to the missing monies that made Gani Fawehimi to take Babangida Then military dictator to court. The case was still in court when Gani died. Or your Papa never maryy your mama that time? At least let us finish plucking the low hanging fruits before we start to climb tree, how about that?

It is clear you have not plucked fruits from the tree before. When you shake the tree very well, all the fruits go fall down once, both low and high. You can never tell whether the fruits on top of the tree will still be available by the time you finish with the ones below.

It is criminal not to investigate the fraud and corruption of the military era. Those who lived through that time understand what I mean. Those guys were transparent thieves. If I ,may ask, was Buhari not managing Petroleum Trust Funds that Abacha syphoned to Europe? What did Buhari do or say about it? Have you heard him call Abacha a corrupt man?

See, I do understand your point and passion. PMB played the same role that Amb Kolade played in the sure-P so you cannot ask him to answer for the government of President Jonathan. President Buhari was well audited by President Obasanjo and the auditor described him in very superlative terms. He was only given the difference between official price and the excess Govt put on pump price.

I was not taught to abet a thief if he came from my tribe. President Jonathan had all the time in world to probe the people you mentioned but he did no such thing. At least he could have probed President Obasanjo or his ministers and aides.

This is like closing the door ban after the doki has fled. Nigeria is already in the midst of stagflation. Who is the useless Minister of Finance, is she so dumb as not to think of any measures to cushion this debilitating stagflation?

Dumbass, now you are blaming the finance minister. When your dumb Jonah was stealing and sharing money, what did Iweala do? There is no minister of finance. We have a commissioner of finance at the federal level who hides behind everybody, instead of bracing the tape. She always re-echo what other ministers, President Aides and civil servants have said. We are in a perilous time in Nigeria.

W e are headed for the doomsday! Truly, a country deserves the leaders it get! They are slaves and Trump knows them very well. Jonathan, 12 months after? You are an illiterate. No need for insults emmanuel! Devaluation of the currency is not going to work and would do more damage to the country.

This you can do by regulating the forex market and forcing some to close. Looks like they will just have to devalue. But there will be overwhelming pressure which he will not be able to resist. Nigerians, support and pray for your leader. This recession gist was out days ago. PUNCH, VANGUARD AND EVEN FASHION AND GOSSIP BLOGS LIKE LINDA IKEJI CARRIED THE SAD NEWS! DID PT AND APC THINK THEY COULD HIDE THIS FOREVER?? Nigerians want to eat their cake and have it.

The past administration ran Nigerian into the hole and now we are blaming the current government. The current government is prosecuting and trying to recoup the money stolen from the people, some obviously dumb people are shouting human right violation and political persecution. Why this government cannot just take the bull by the horn and slice Nigeria into six autonomous region baffles me. There is no way out for this country to make it into the league of developed nation than to embrace a six regional autonomous entities.

It will foster economic competition and make the federal government smaller and effective. We are facing economic recession, we should also face political recession. Why should we be going through this harrowing economic experience and we are still keeping a bicameral legislator? Can somebody tell me the common sense in this? Why should we need 36 states house of assemblies with this economic situation? Does that mean that our brains has evaporated with all the monies embezzled by the last administration?

Please whoever have answers to these questions should please help me. Former President Olusegun Obasanjo says President Muhammadu Buhari may not do well in economy and foreign affairs, except in military matters.

He served under me in the military. His characteristics that I know, his behaviour that I know, he has not deviated from them. He was never a perfect man, he is not a perfect man and no leader can ever be a perfect man because they are human beings. But if you read my book, what I said about him is correct. HE IS NOT a hot person when it comes to ECONOMY. HE IS NOT a very hot person when it comes to FOREIGN AFFAIRS.

But he will do well in matters of military and he will do well in fighting Boko Haram. QUIT THE BLAME GAME BOY! THERE WAS A SLIGHT GROWTH AT THE END OF OBJ has not proved to me that he knows anything about the economy.

Not even a thing about political science. His government was a disaster because he put the short term interest of his government above that of national long term interest. Judging Buhari after just one year in office compared to PDP 16 years is a no brainier and there is no pun intended.

Buhari is a disaster. Clueless and useless to Nigerians. The first time we had a recession was in when Shagari another semi-illiterate Fulani was in power. Nothing works anymore and even Mr Liar Mohammed has become dumb. CBN should go ahead and devalue Naira from its artificial price and give this economy a breathing room to bounce back. The real value of Naira is between official and black market rate. There is no point delaying the inevitable and prolonging the suffering.

Nigeria currently get most of its forex from oil sale and remittance— from Nigeria living abroad and grant. Given the official rate is N, most remittance Nigerians sending money home that should be coming through the official banking channel has been redirected to unofficial outlets that can pay out N minimum to a dollar in Nigeria. How does CBN expect forex to keep flowing in? Oil price will remain low for the next 2 yrs. Devalue the Naira and let more forex flows into the country.

Not only will devaluation relieve the pressure on reserve, there will be more inflow of FDI into real economy. APC government shoul ensure that the FDI flows into strategic part of the economy that will enhance growth and reduce unemployment. Please do not change your moniker when the devaluation would have run for six months, because i will remind you when Nigeria economy is dead!

Please, note that you are not Greece and no Bailout for an undre-developing country managed by an irredentist cattle rearer! Semi luxury goods importers could be surcharged higher dollar rate whist to a dollar remains. A higher cost of dollars to local manufacturers and the knowledge industry could collapse the economy. At any event a new dollar policy need not be rushed in place until mid June lest it be a knee-jerk reaction. I disagree with you.

The best thing is to disintegrate or revert back to confederation or Regional governance as was the case in When regions become autonomous there will be healthy competition and square pegs will be placed in square holes and appointments will be purely on merit. Standards will be same across board. Same cut off marks for examinations in all states of the same region and same criteria for performance evaluation in all facets of our national life.

Decisions will be devoid of pedestrian sentiments and the academically challenged useless politicians will have no space to operate. Corruption will be a thing of the past and terrorists will no longer have red carpet reception and free wife after raping the captive.

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Besides, all job averts including that of Central Bank of each region will be advertized and every citizen will stand equal opportunity. The spokespersons to each president will be eloquent chaps as determined through rigorous selection process based on quality or resume and not the present case where presidential spokesmen struggle with tenses and sentence construction.

Besides, presidential aspirants will have to attend a debate and at such sessions their countenance will be unraveled and the terrorist loving and terrorist shielding aspirant will be spotted and axed…and gradually confidence will be restored in the regions and investors will pour in and the local currency will rebound.

This is a better economics. Without a man with conscience, all your ideas will end up where we are today!!! Northerners will not accept that because they think fiscal fedralism or regional govt is the simpliest way to brake up nigeria. They see it as a trap which they are not ready to fall into. So basically what you are advocating is another tier for foreign exchange where we will have effectively the official rate, Parallel Market Rate, and Luxury Market rate set by govt.

Effectively Three Prices for the dollar. Have you heard of a country called Venezuela? NO TIME FOR POLITICS! COME OUT OF YOUR SMELLY COCOONS!!! Trash Awosan, Comfortkay, Onike, Omoba1, etc — Wahala too; he cannot seat on th fence now that his Sai Baba has finally destroyed Nigeria!

Each passing day of the CBN policies are deterring foreign investors investment, closing domestic Nigerian factories, preventing fuel marketers from accessing foreign exchange needed to import fuel, significantly reducing federal government income and revenue derived by the Nigerian Ports authority, federal government taxes from VAT due to the bankruptcy of many Nigerian corporate entities and increasing the nations army of the unemployed.

One hopes that the Nigerian economy would not already have crashed before the trickle effects of the FG fiscal policy starts to find its way into stimulating the domestic economy. Maybe you should confront Buhari and ask him to define or explain what he understands by Fiscal policy —-and then let us know how he fared in his response. Monkey can never give birth to a Duck,,and Ducks only dream of flying but never can and will never fly.

Its as simple as ABC. The minister of finance doesnt even know how to do basic arithemetic, there doesnt seem to be anyone in this government who has competently dealt with the sort of complex economic know-how that Nigeria desperately needs. One wonders how this lot could turn around this monstrous sinking ship called Nigeria if they just about dont have a clue about how to do anything least tackle the tedious demands of the position they hold! Just like the last government in its erly days, I support Buhari as a patriotic citizen just as I have supported every other Nigerian head of state at least for the sake of the people and for want of a better choice.

But then the truth is like an unsuppressible stench, you can smell it from miles away. This government is totally incompetent. Nigerians detest the corrupt political class irrespective of their parties, so any genuine fight about corruption should ot be about the old party and the new party, past rivals and future rivals but rather it should be about anyone and everyone who is corrupt. It is as simple as that. Again, in trying to correct the weaknesses in the system which of course corrupt officials exploit at will, the government must not play dirty, it must play smart but also within the rules.

It is absurd to detain indefinitely individuals whom evidence shows stole money but who are either required to refund such funds or are considered flight risks. I believe in Buhari but it ppears the Buhari that Nigerians elected is not the same as the Buhari that is now in Aso Rock. Did we just sell a dog to buy a baboon? Nigeria lost just 16 dollars per barrel of crude oil since Buhari resumed office.

This looks like hubris. Someone close to President Buhari should caution him. This nonsense proposal to devalue the Naira on top of that will be a highly combustible policy in less than 48 hours.

A general price increase through Naira devaluation could lead to mass violence. President Buhari should not mistake the sheepish attitude of Nigerians over fuel price increase for absolute consent to future depreciation of the value of life. The damage has been done. In August Nigeria will announce officially that her economy is in a recession. Many foreign Investors will be discouraged to bring their Investment to Nigeria. Others may wish to dinvest and move to more promising markets.

This explains why economic downward spirals often last about 3 years before recovery. Millions will lose Jobs and income.

Nigerians will have to wait till for the economy to rebounce and reach the level it was in Thank you Buhari, and Tinubu. You are world-class strategists! Actually, the thanks belongs to Emefiele. It is the CBN policies crashing the economy not the FG driven policies. Since he is not taking any personal responsibility for the debacle, I would like to believe he was all the while under strict instructions forex robot algorithms to devalue.

I would have believed that to but for the fact that I am aware that his forex policy started in January 5 months before Buhari was sworn in. That January fund for binary options trading signals reviews after Buhari told voters in Owerri Imo State for instance that he did not intend to devalue the Naira but would rather see it at parity to the dollar.

No Nigerian CBN Governor intending to keep his job would neglect that statement of the then future president. The election was in March Nobody knew that Buhari would definitively win the election in March. Emefiele must bear responsibility for the policies he instituted since last year January. With the CBN governor which the CBN Act of places with the sole responsibility for monetary policy and control of the exchange rate policy of the state.

That Act also made the CBN independent of stock options faq exercise and hold incentive FG on matters of monetary policy.

Please Mr Deleyou keep saying CBN gov, who voted for him? 510 minute binary option 08122016 in case you doubt, remember how inefficient stockbroker charges ireland effcc wasbuhari put his man derwho gets credit for the success so far?

But in the economy buhari has not being quite successful so,its comfortable to pass the buck. All that wud are stock trading fees deductible profiled is the economic direction of the country under him. The law CBN Act imposes control of monetary policy and the exchange rate policy in the board of the CBN which is headed by the CBN Governor. Who is this awogbeoba guy?

The president does not need to remove anybody. The CBN governor, deputies and the board make policies in line with the economic direction of stock market trading 1920s graphs Central forex must have a strong mentality. You can take that to the bank. In a classic move worthy of mention in a Shakespearean tragedy, GEJ may well have noted a number of important trends in July The alliance between the political North and the political South West put him on the political back foot.

The only candidate that the APC could logically put up that was capable of winning the election was Buhari. Once he was able to convince the political South West to trust him, his how to make money fast gta online after patch was assured.

GEJ may also have known that Buhari is the ultimate tragic literary hero. Many a play has centered around a central character similar flaws that besets president Buhari. He is nationalistic, determined, idealistic, powerful, simple, arrogant, tyrannical, economically ignorant, inflexible, incapable of learning from past mistakes and intellectual lazy.

It was these same qualities that allowed his former military colleagues to effortlessly overthrow stock market announcement calendar in August Godwin Emefiele on the other hand appears to be simple, harmless, humble, soft spoken, powerless and cunning.

Nigerians are being served up a live Shakespearean play where the lead character and tragic hero is being led to his destruction by the simple, powerless yet cunning underling. At the time Buhari took over from GEJ, the federal government finances had been completely ruined. Its savings obliterated, an inherited yet unmanageable debt service obligations incurred by the reckless acquisition of debt by an incompetent former finance minister, low oil prices, challenges in selling its oil to willing buyers, a stubborn costs structure of the FG bureaucracy and a war with a savage Boko Haram.

The challenge was to prevent a FG revenue challenge from becoming a significant impediment to the fast growing Nigerian economy. In the past, the Nigerian state used fiscal and monetary policies in ways that checked excesses. The CBN in adopted its policies in a manner that prevented over heating of melbourne central christmas eve opening hours economy when the fiscal side of government policy through reckless government spending was pumping a lot of money into Nigerian economy.

At that time, the CBN tempered the economic implications of FG spending by increasing interest rates and withdrawing liquidity from the economy. Presently, Nigeria is facing an acute demand challenged economy. There is very little money in the system. It still has challenges finding an end market for all its oil. What is left over from FG revenue will absorbed by the over-bloated government bureaucracy government workers, elected officials and political appointees.

The FG hopes to borrow 2 trillion naira that will be used to stimulate the economy. Shortly before the swearing in of President Buhari, the CBN had started implementing its notorious forex policy. It started to implement a crude policy of exchange control by intentionally and significantly limiting the amount of naira available for purchase. This made many foreign investors already in Nigeria concerned that any money in Nigeria will be hard to extricate and it discouraged potential investors from bringing into Nigeria critical foreign investment and foreign currency into the Nigerian economy.

Binary option forex club was so concerned, that it warned Nigeria that it faced expulsion from its index and with such expulsion will go billions of foreign currency inflows.

By SeptemberJPM had expelled Nigeria forex nuke 3 its index. Other foreign investors have stopped further investment into Nigeria. Many foreign investors have opted to use their hard earned money optimally and have passed on Nigeria for that reason.

Buhari, before long, became the face of this disastrous policy and its chief proponent in chief. At that point, he was perceived to be the driver of the policy rather than a President limited by the terms of the CBN Act of and the independence of the Governor of the CBN as enshrined in that Act. Emefiele had before our very eyes been transformed to the powerless, respectful and simple CBN governor taking instructions from an incompetent all powerful President rather than the reality of a cunning and incompetent CBN governor leading a stubborn and nationalistic but economically ignorant President down the road to political ruin.

Not done with the exchange control regime, the CBN governor then implemented a restricted best way to get free nx cash strategy vis a vis foreign currency acquisition by the domestic manufacturing market that has now led to the unprecedented growth of unemployment in Nigeria and the future large scale collapse of many domestic manufacturers.

The CBN has now delivered the ultimate knock out punch when the barely reported decision by the CBN to increase interest rates and to pull billion naira from circulation within the economy through the banking system. This was done at a time in which Nigeria has no fiscal injection into the economy from the federal government, there is a significant absence of demand within the economy and Nigeria is facing a near recession.

Elementary economics demand that in times of near or actual recession fiscal and monetary policy should be expansionary and not contractionary. Every western country that was affected by the economic downturn over the last couple of years have significantly slashed interest rates. The worry in the west is a negative interest rate environment not a double digit interest rate regime. High interest rates are imposed where an economy is overheated and needs to be cooled down.

There is no precedent for high interest rates and contractionary monetary policies at a time when the economy is devoid of demand and the FG is devoid of cash that can be used to stimulate growth within the economy by spending money.

The result will be list of stock brokers in hyderabad most debilitating economic downturn ever experienced in modern history.

One can only surmise that this new CBN policy was implemented to deal with rising inflation. The medicine prescribed by the doctor cannot cure the ailment that afflicts the sick patient. Aware that the CBN Act of ensures that the CBN governor is independent of the Dollar to rupee conversion rate historical and can only be removed by the President with the assent of the National Assembly, Emefiele has insulated his position by bribing the major power how does the pardoner earn money within Nigeria by giving their wards unmerited appointments within the CBN.

Buhari is effectively stuck with a CBN governor that will facilitate his quick transition from messier to the most hated and unpopular head of state in recent memory. Mr Tinubu seemingly worried about the popularity of the APC federal government and its effect on his hard won south west political empire aimed his missile at the wrong person. The minister of state for petroleum is not the existential threat to this APC government. It is the CBN governor.

What an interesting irony. It appears that Emefiele does too. Oga,on the removal of a governor, deputy governor and directors, you either LIED OR ARE IGNORANT! NOT THE DEPUTY NOR DIRECTORS! I appear to have misread sub section f. NOTE ALSO THE Fnb forex jhb FROM THE FINANCE MINISTRY IS THE EYE AND EARS OF THE MINISTER OF FINANCE. WHO REPORTS TO MR PRESIDENT.

Mr Dele, it is an exercise in futility battling to exonerate a sitting president from the failure of a central Bank under his watch! THE BUCK STOPS ON HIS TABLE! STOP FOOLING YOURSELF SIR. The Governor was appointed by GEJ and he has a 5 year tenurethe 4 deputy governor were appointed by GEJ and they have a 5 year tenure, the five Directors were appointed by GEJ and they have a 4 dow jones u s total stock market index wilshire tenure, the perm sec and the Accountant-general were both appointed by Buhari.

Of the 12 member board, Buhari appointed 2 members. Mr Dele, just try a wee little bit to be true to yourself. WHERE DOES THAT TELL YOU THE BUCK STOPS??? Buhari met a CBN governor embarking on a destructive policy position since January The minister of finance and the minister of Budget got appointed and were given portfolios in December By that time Emefiele had the sole confidence of the president.

We all know that complex economics is not the forte of Buhari. Emefiele has been pursuing destructive policies for over a year. It was just last week that the VP stated that he would try to influence a change of policy at the CBN. However, the power is with the CBN not the FG on matters of monetary policy of FX policy. The Central Bank of Nigeria, Shakespeare And The Destruction bombay stock exchange kingfisher airlines the Nigerian Economy.

Buhari is effectively stuck with a CBN governor that will facilitate his quick transition from messiah to the most hated and unpopular head of state in recent memory. I heard emir sanusi and a visiting world bank director advicing buhari to devalue naira and not emefiele. THEY STILL REPORT TO HIM! As I said, GEJ had appointed the people referred to in abc and the person that appointed the people listed in e.

Look at the section that deals with length of stay of a director. The CBN Act makes the CBN independent. They do not report sbm forex mu the President. They may support the policies of the FG which at the current time they are not.

Nobody devalues the currency or adopts hash economic policies during election period. I want to belive that Emefiele is intelligent enough and would have devalued immediately after the elections if he had his way. You smell evil and typical of Yorobber — never see wrong in their people.

What is wrong of you? You blame Okonjo Iweala in the last administration and have changed the goal post now. Okonjo Iweala destroyed FG finances and made the FG devoid of policy tools to combat a revenue challenge. Emefiele has practically destroyed the Nigerian economy through his policies. I warned about this 2 months ago. I agree with the minister that this is best addressed by policies that stimulate domestic demand.

The cheapest, most effective and quickest route to stimulating the economy is to discontinue the forex policy, drastically cut interest rates and have significantly less requirements for banks to keep liquidity with the CBN. Keeping the CBN policies as it currently is and applying an inconsistent stream of fiscal policies to the same environment may actually nullify the positive effects on the economy that the Nigerian Federal Government desires. What are the fundamentals that will stimulate growth?

Common, tell me in vivid terms how Vehicle Assembly plants with ancillairy industries are encouraged by releasing FX to source some materials and would work from home mums melbourne boost employment, how Rice farming has been discontinued, hpw specific macro economic drivers are be managed to that effect.

Kemi seem to me a Girl friend brought into a Corporation as an eye for some major investors without deep knowledge of board room intrigues. Her face betray her anytime. Did I here you say incompetent Buhari? He is still the president, and no one else. Unfortunately Mohamed surrounded himself with incompetent cabinet.

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What is the dummy Finance Minister doing there? You are a liar. You all knew how to use Boko Haram to drive Jonathan out of office. When Mohamed swore that the blood of monkeys and baboons would flow if he lost the elect what else did you expect? Are you not the same voodoo economist who assured Nigerians that Naira would par the Dollar one to one when your master came to power?

Anybody trusting you and your slave master is taking a fatal risk. His minister of finance and budget and national planning were sworn in in December The president appointed a special adviser on the economy in January Just last week, the VP started to say that he will begin to try and influence a change in policy at the CBN. WHY was the minister for Finance Sworn in in Dec ?? WHY was the S. A on economy appointed in Jan ?? WHY did the V. EXCUSES IS ALL I SEE. THESE EXCUSES ARE NOT TENABLE IN CIVILISED SOCIETIES SIR!

The VP did not influence any change in the CBN policy. He was only the megaphone who went to the market place to announce a devaluation that was long decided in a meeting with Buhari and Emefiele attending. Emefiele was smuggled into CBN by Jim Ovia, Tony Elumelu and Dangote and playing their scripts. PMB is only allowing their until some to replace him is found and also he is helping this govt with vital information about the fraud called the CBN forex trading and tax australia GEJ govt.

The only mistake Emefiele made was to only ban 41 items instead from accessing forex officially instead of itemizing few imports to access forex from the CBN. And that he has finally done. Ban some items from acccessing forex and itemize some items to access forex are those not one and the same? You see that is why I have told you earlier that your problem is being stuck excel template for trading stocks the conventions of economics that never worked anywhere.

Macro economic management is what drives any economy, while the micro economic management help stabilises it. In this case, the micro economic manager now run both together while the Macroeconomic manger has accepted to share federal allocation alone as her responsibility. When she and Osinbajo were called common commissioners by Fani-Kayode, you all scorned him but we are all in the mess today.

Okonjo Iweala used her clout and contact to get other nations buy our oil as if selling crayfish and didi effective macro management The liarly Yoroubas said she stole all the monies, so their daughter nor even know wetin to do — let her even steal all the monies so we can have a moving economybut she achieved success.

Today, we hardly sell anything, import nothing, produce nothing. All that we had are all becoming scrap, no replacements or hope to produce replacements. But Buhari has appointed follanis to every forex must have a strong mentality office in the land, such that in the next 20 years, they will drive Nigeria without requisite knowledge or know-how.

Okonjo never used any clout to get buyers for Nigerian oil. This economy was destroyed by the CBN. I have written extensively on this issue 2 months ago and warned about the outcome of CBN driven policies. How does CBN destroy economy? One year of non-definite national policies, budget, stopped import for a non-manufacturing country without alternative productive activities is economic suicide.

When a dead brained man the head of Customs to make laws for a country, did you expect that country to thrive? The buck stops at Kemi and Buharis tables. The CBN moderates whatever those two put on the table, unfortunately, there is nothing on the table. Buhari is pretending, because he has been told by the fish head technocrats affiliate earn money referral code if he devalue the Naira, he would have enough funds to run his budget upon conversion of the Dollar from Oil sale, not minding that all other factors such as large money chasing few goods would see inflation through the roof and eventually kill the economy.

Please tell us what you would do differently if you were the CBN Governor or Minister of Finance. I have written on them over the past one year. I have listed the many articles below for those you care to read. NOI was the one who, acting as an economic hit woman, destroyed the economy. Rebuilding it is the difficult task before this government. Mention one single policy with which NOI supposedly destroyed the Nigerian economy. The woman has the international experience, exposure and qualifications from world-class universities.

What has Buhari that qualifies him to run Nigeria in the 21st Century. Maybe some volks in Nigeria will believe your allegations against NOI without seeing a single proof, court indictment etc. I will not and in my clime nobody will. Leave such allegations where they belong to. You must come from Arewa. I wanred when he started by running the Government alone for 6 months that his intention was to test the will power of Nigerians ahead of his totalitarian Government and you all shouted.

We are getting there. Falana would soon be in that pack; having become a critic of the failed government. The maga called wahala has also joined out of frustration. But that lady Finance minister is out of her depth and has no clue. Probably owes her job to that first-class embezzler Tinubu. Are you aware that Mo Mody is a European modern day slave?

Remember that slaves always live in a world of pessimism. You think Buhari is like OBJ or GEJ who were deceived by certificated morons?

Buhari know the Soludo who stole CBN blind; Ezekwesili who the World Bank regretted having and as a result warned OBJ not make such silly recommendations; and Utomi the political economist who not has elementary knowledge of managing an economy but who has failed woefully in every private venture he ever participated in, would never make it on his list of his economic management team.

Ok name the people who can help your demi god buhari because nigeria needs surgry as soon as possible. So forget these so-called foreign investors because they are only international speculators chasing arbitrage.

You guys should be ashamed of yourselves for messing up a country with such a huge potential. Having left Africa as a teenager, studying, working and spending all the adult years abroad and growing a family, coming back to live in Africa any time soon is not an option.

So enjoy the chaos, you are used to it. Is Nigeria not noisy, chaotic, polluted and corrupt? Is the health care service, security and human rights improved? Are people not forced to go to India or Ghana for better health care?

The consequences of fulani vindictive and archaic economic policies. A case of medicine after death. One whole year of global goodwill and opportunities out the window; such a travesty! Very painful we have a huge knowledge deficit in the presidency of the largest black country looking for economic prosperity.

No devaluation in a hugely import-dependent economy does not make sense, when you cannot defend your currency. Do we have the infrastructure to produce just 50 per cent of our consumption today or even in the near future?

Why is the naira, despite it has not been officially devalued, or more to 1 dollar in the black market? Had he devalued in July or August last year, the naira might have stabilised at naira to 1 dollar today. I am already dehydrated from this topic. This is classic Buhari acting on critical issues belatedly. He has just woken up to the death of the economy. He was warned last year by experts, but refused to enlighten his archaic ways.

But I know that devaluation of the Naira is not the answer to total darkness in Nigeria, with no electricity supplied for months now, and, no water too. If recession is about to happen it means that there is no sensible economic environment. That has nothing to do with making the Naira to become to a dollar. What will become cheaper by that nonsense, when petrol price has just been doubled? Most people get dollars from the black market.

How much is it now: How has Buhari helped with his archaic, socialist policy? We will continue to import most things in the foreseeable future, because we are not yet ready to produce.

You cannot overvalue the naira in an import-dependent economy, yet you do not have the dollars to do so. Government is a day-to-day running. He has is own plan and schedule of doing things. President Buhari is an incompetent hypocrite. Do you know that President Buhari budgeted million Naira plus for the website of the Ministry of Solid Minerals under Kayode Fayemi?

Rather than close that and such corrupt windows Buhari wants the whole country to pay for it. Nigerians must rise up now and reclaim their sovereignty, that is if they still half a brain left. No website development anywhere in the world costs million Naira plus.

Buhari administration is on course with its forex. In other words, rather than 41 items banned from accessing forex officially, only few items will access forex officially, the rest should source from the market driven by demand and supply. We will see that few days from now, the CBN will announce these critical items to access forex from the CBN window, at a rate not determined by the market forces. Buhari government are as confused as ever,going round in circles and regurgitating their vomit.

GEJ is history,stop turning back the hands of time by blaming the serial failures of Muhammadu Buhari on Jonathan. OBJ inherited a non existent economy but did not spend time blaming those before him.

BUHARI SHOULD THROW IN THE TOWEL AND RETIRE TO HIS RANCH AT DAURA. Buhari said he would turn Nigeria around in weeks, we are not talking Jonathan now. If a CEO known for managerial prowess is hired to turn around an ailing corporation, the board does not expect him to re-tell the story of what led to its state, but deliver.

Pleas use your brain. Buhari said he would par the Naira to the dollar, so N Please, show the evidence where Buhari said he turn Nigeria around in weeks. Buhari has started turning Nigeria around, at least we have seen people being called to give account of their deeds while in political office. Very soon, all leakages will be blocked and the masses will be the beneficiaries.

God forbid Nigerians to experience such government like that of Jonathan again. He said 1 Naira will equal 1 Dollar. Charlie Boy is still waiting for him so he can ride is bike fron Naija to China. Just remember how many years your paid master had been stolen from and looting the treasury. Buhari is on his way to make Naira regain its value. Sorry, it is very painful, there is now a road block to the free money. Mr, Nigerians are tired of hearing this looting looting stuff of a thing.

We want result and not this media anti-corruption fight. One year is gone, no result. Pls tell your president the clock is ticking. Four weeks makes one month, twelve months makes one year, ten years makes one decade etc.

Now we are already in years yet none the promises were fulfil. What do call a man like buhari? This Jonathan syndrome is delusional. Did you read my comment or you only replied with your warped thought? I have been around for as long as online media hit the stable in Nigeria and have rendered my voice consistently.

Let me know the moniker you used in this forum as at January and i will lead you to the day he had townhall meeting somewhere in Agidingbi Lagos State with Artisans. I feel like puking when semi-literates like you say show where he said such things. The World knows that Buhari is a failure and all International media, including Al-Jezerra which has Islamic undertone wrote him off in December have all written him off. Your judgement is poor as demonstrated by your support for Jonathan that spared headed looting spree of Nigeria treasury at detriment of masses well-being.

Hence, you have no moral right and credibility to speak on behalf of Nigerian masses which your benefactor put in abject poverty. You have just started demonstrating your real person. Nothing sensible is expected from you, anyway. Mr, why is his judgement wrong? From Forex restriction to flexible Forex policy and morons like you are clapping.

Stop looking at the reverse mirror and look forward. Both of you lack credibility to say something reasonable because you have a bad judgement. You supported a treasury looters to continue the loot of our treasury based on tribal sentiments, but people chose to send him packing. You vowed that he will never become elected as president and he is now the president, you failed. How can you be taken serious again. You lack credibility, go and sit somewhere. You also know how the budget was padded by the Executives but thank God for those at the National Assembly.

Pls tell me wat your President has done better. Hey mr wake up! Although i support Buhari, but i must say you have a point. These officials should cut their own everything before asking poor people to go and buy N PMS. Jonathan did not put Nigeria in abject poverty, the disingenuous MONSTER called Buhari did…. The F00Lish illiterate imagined that an uneven anti-corruption campaign targeted intentionally to destroy all opposition, including the PDP equates to economic policy….

The government simply wants to control and redistribute wealth to the north……. The policy has predictably backfired and I do think the political calculations responsible for this anti free market ship emanates from Aso-rock. There is no basis for such an assumption especially as Emefiele had been pursuing this policy from January 5 months before Buhari was sworn in.

Emefiele was given a free hand and that has been the undoing of the country, the Nigerian economy and Buhari himself. Buhari has severally made public statements about issues of monetary policy ,he has stood publicly against devaluation for instance and he has also insisted on this negative FOREX policy.

There are more than enough grounds to believe that he is solidly behind those policies. We should try to imagine what clueless and treasury looters of PDP government would have down now having looted Nigerians dry before the election. God forbid, many people crying now would have started selling their children for their survival.

People have short memory! This is not funny. See how the swine Buuhari and his relentless propaganda machine has messed up with your fish brain…. He has made you believe that corruption flew over the head of APC politicians and squarely settled on the PDP…. You have just said nothing. No one is talking about who is corrupt or not. It will take a preceding administration to Buhari to reveal any maladministration and corruption of his regime. Right now, it is an open secret that Jonathan and his aides were on mission to loot Nigeria to non-existence going by the confessions and revelations that are in public domain.

This is type of democracy the masses needed and we voted for it. If this is being scammed, Nigerians would accept to be scammed than to be looted dry. Sorry, free money is gone. Booohari is suffering from some irritating messianic complex, and is thus out on a mission to shred up the opposition; and what better way to execute the task than to brand it, and drape it in a tegumen comparable only to an execrable rubbish!!!!

Is it a dead opposition that can take over from APC in to then proceed to probe it? You know you are just apologizing for the undertaker!!!!

Buhari has successfully reversed the democratic gains and legacy which Jonathan even if in default managed to bequeath to the nation……. We might be scammed as you believe. If so then that is a temporary situation. To be just means to do justice; to do justice means to display no favoritism; it means to be even-handed, to brandish an even balance like Lady Justice whose eyes were bandaged so as not to be beholden to no person, friend or foe….

I am rather in contest with the fact that the so-called campaign is not guided by the Justice principle; it bears no signature of even-handedness, and that in itself is corruption….

You cannot use corruption to fight corruption…. His skewed anti-corruption campaign is also at the root of the asphyxiation which the the national economy is currently experiencing, with its imminent death not far to see…. When you have two different exchange rates people would take advantage. Just free float the Naira and let everyone compete for fx without restrictions.

Forex trader must have a strong mentality (7)

This government seems fixated on controls when what is required is liberalisation. Did he say anything knew different from other neoliberal apostles who are obsessed with liberalism?

Market forces are mostly driven by monopolists assisted by some faceless western economic jihadists. China is today the second largest economy not by allowing so called market forces but by government systematic interventions and controls. America and China are in the fiercest currency warfare. I can under sell to put you our of business and later raise my price now as a monopolist. Buhari adminisration has no option but has just accepted the terms dictated by the IMF to allow a flexible exchange rate policy for the Naira in order to access loans from IMF and World Bank.

Having wasted a lot of time and after all the loud-mouthed-talk about western economic jihadists, local solutions, China currency swap and all what not, they had to swallow the humble now that the economy has gone into recession.

All that could have been avoided. The opinions of European economic slaves do not matter in Nigeria. If you want us to listen to you, relocate to Nigeria so that we first cleanse you of your slave mentality and restore your lost confidence back….

My take is that there should be no special window. Let the exchange rate float and let no individual including PMB get foreign currency at for any reason whatsoever. Hausa Opinion Play Games About Us Contact Us Careers Advert Rates.

Wednesday, June 21, Facebook Twitter Email LinkedIn Print WhatsApp Telegram Google Skype More Tumblr Pinterest Pocket Press This Reddit. More in Headline Stories. I thought you would have suggested one. Sorry, my comment was actually meant for yemkik.

You are fully on course! Thanks for saying the truth he that have ears let him hear. THERE IS ENOUGH PRESSURE ON NIGERIANS.

BUHARI NOT SOUND IN ECONOMY, FOREIGN AFFAIRS -OBASANJO!! PUNCH NEWS, May 14, Former President Olusegun Obasanjo says President Muhammadu Buhari may not do well in economy and foreign affairs, except in military matters. APC, why, WHY, WHYYYYY?????? I am no fan of rigid exchange rate. It always distort the economy and encourage corruption.

EDITOR SIR, The best thing is to create a new forex window for semi-luxury goods, not to devalue the Naira. ALL HANDS ON DECK! All I can say is to reproduce my article written two months ago. Yes,you sold a dog to buy a goat. Premium Times Editor, President BUHARI is taking things too far…………. Guess where the BUCK STOPS? FG Fiscal Position Presently, Nigeria is facing an acute demand challenged economy. THE CBN ACT ; 6. Keep defending the indefensible!

Read an article written by me in March this year. Now you are making excuses for the incompetent Emefiele. I guess from where you stand the President has no fault in this. We were born free. Abati is that you. Alhaji Walawala mai tantabara. This son of a betrayal tribe isnt worth your attention.

PDP govt appointed Emefiele, and his policy remains a reflection of the former govt. Senators promised and given billions of naira so they could allow him to bow and go?

And now you fall my hand!!!!! Is this analysis or apologies for failure?? My brother Buhari is a stark illiterate…he has nothing to offer o!!!! Stop apologizing for him o!!!!! Let them recall soludo or ezekwesili or utomi, they are all apc. Should I reply nonsense?

Now why are showing interest in our country? This thing wey dey come, na rain?? Mba oooooo na snow. We need a minimum of First degree for presidency henceforth in Nigeria. The Naira at Naira today is undervalued by Purchasing Power Parity assessment and it is made worse by demand push-inflation, added by petrol price increase of This is not the right context for any devaluation of the national currency.

Nothing but recession and violence will follow.