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Treasury Bills And Fed Govt Securities, Nigerian Federal Government Is Broke !!! - Investment - Nairaland

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Treasury Bills And Fed Govt Securities, Nigerian Federal Government Is Broke !!! by Sanchase: 2:25am On Nov 04, 2015
It is fascinating to witness the current economic situation in Nigeria, the current government under Buhari has indicated there is no money in the economy, this current government has borrowed at least N50 Trillion naira since Buhari took over, the President has made numerous trips meeting Prime ministers and Presidents negotiating loan deals. This is alarming as Nigerian economy is still productive even with the slow rate of economic growth. The huge debt currently owed by the Nigerian Federal Government will take at least 50 years to pay off.
There is no significant infrastructure currently funded by the current government yet it has gone broke, majority of the funds allocated currently is assigned to development of Boko Haram destroyed states, billions of naira has been credited in the name of developing those states affected.

ADVICE: Nigerians investing in Treasury Bills and other government securities should be extremely cautious with their dealings. The worse case scenario is this, If the CBN goes bankrupt, financial investors with liquid assets will lose their hard earned money. They will assign each of them to an exhausting program that will worsen the damage.

The ministries in Nigeria generate enough money to sustain the economy without borrowing, yet the government focuses on telling Nigerians the drop in Oil price is the cause of the crisis.

Nigerians should make hay while the sun shine !!!
Re: Treasury Bills And Fed Govt Securities, Nigerian Federal Government Is Broke !!! by divinehand2003(m): 3:21am On Nov 04, 2015
Dear OP. What is it you suggest Nigerians to do?
Carry placards, mass protests, revolts, riots, or destroy the whole country? A country so enmeshed and soaked with corruption cannot produce money that will sustain itself, hence the loans that are taken to settle immediate problems.
Nigeria is broke, all the cash is gone. We are in deep shit, we need God's grace to pull out of this negative situation.
Re: Treasury Bills And Fed Govt Securities, Nigerian Federal Government Is Broke !!! by otokx(m): 5:38am On Nov 04, 2015
Doomsday prophets, Nigeria is not and cannot be broke, during change in government there will be some lull but after a while things will pick up.

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