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Nairaland Forum / Nairaland / General / Politics / Zero FAAC Contribution For May - NNPC, Obaseki Vindicated (1198 Views)
NNPC Declares Zero FAAC Remittance For 8th Time As Subsidy Gulps ₦2.6 Trillion / Obaseki Vindicated By Time / Falling Oil Price: Fayemi Says States May Get Zero FAAC Allocations In June (2) (3) (4)
Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Aisosa25: 12:17pm On Apr 29, 2021 |
Zero FAAC contribution for May - NNPC, Obaseki Vindicated
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Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 12:19pm On Apr 29, 2021 |
![]() This 3 credit Governor no just one get sense again.. Every country in the world suffered post covid 19 economic meltdown and GDP contraction While every country is finding was to buffer the hardship, CBN decided to offer a monetary policy that would bailout states from intense hardship due to their zero IGR . |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Nobody: 12:27pm On Apr 29, 2021 |
iammo:Lmao he said monetary policy ....you mean printed money to bail out states ? Do you even know what money is ? Do you even know the definition of 100 naira for example If federal government printed 60 billion it means they robbed every naira holder 60 billion collectively Economics should be made compulsory in schools 8 Likes 1 Share |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 12:30pm On Apr 29, 2021 |
Igbochief001: Money was not printed, it's called fiat money.. CBN barely gave states something similar to a credit note and not physical cash, in this case the fiat money would be mopped up with time as economy gets healthier And to the nonsense you said about robing you of 60billion.. that's bullshit.. our monetary policy gives us right to mint and increase money at 4.5% increase annually if we are to have enough money to capture the value of our economy . 2 Likes |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by TinubuGoQuench(f): 12:32pm On Apr 29, 2021 |
iammo: SHUT UP! BUHARI IS A USELESS DEAD VEGETABLE WITH BREAD LABEL AS CERTIFICATE STOP FOOLING YOURSELF ONLINE 5 Likes 1 Share |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Kzinne: 12:32pm On Apr 29, 2021 |
, |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 12:33pm On Apr 29, 2021 |
TinubuGoQuench: Why don't you go to threads meant for people like you with similar IQ |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by TinubuGoQuench(f): 12:33pm On Apr 29, 2021 |
iammo: SHUT YOUR TRAP THERE!!! YOU IGNORAMUS!!! 1 Like |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by 9icest: 12:34pm On Apr 29, 2021 |
Hmm |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Nobody: 12:35pm On Apr 29, 2021 |
iammo:Where did the money originate from ? He said fiat money ? ![]() Fiat is money .. nothing like fiat money not backed by gold ...naira is not fiat in the real sense because it's backed by dollars CBN manufactured money from air without it being backed by any dollar and you are here saying what you don't know 4 Likes 2 Shares |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by TinubuGoQuench(f): 12:37pm On Apr 29, 2021 |
WHO DO ANYHOW GO SEE ANYHOW 1 Like |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by TinubuGoQuench(f): 12:38pm On Apr 29, 2021 |
Igbochief001: STOP DEBATING WITH NONENTITIES, THEY WILL NEVER LEARN 2 Likes 1 Share |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by TinubuGoQuench(f): 12:39pm On Apr 29, 2021 |
THUNDER FIRE BUHARI ASS LICKERS!!! 2 Likes |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 12:40pm On Apr 29, 2021 |
Igbochief001: You don't even understand the simple meaning of fiat money? Can't you Atleast google it before embarrassing yourself Anyways one of the statutory mandate of every Central Bank of the world is printing and minting of currency, whether fiat money ( not backed by commodity) or minted money , most print annually to capture the current economic reality, so money printing is a dynamic thing not static, and CBN did just that, while dunce like Obaseki try to score cheap points |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by OmovuduTheBeast(f): 12:41pm On Apr 29, 2021 |
THEIR PAPA LEFT BLOCKOS! DIA FATHER!!! 1 Like |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by OmovuduTheBeast(f): 12:41pm On Apr 29, 2021 |
iammo: YOU SAYING TRASH 2 Likes |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 12:43pm On Apr 29, 2021 |
OmovuduTheBeast: Obviously your comprehension is based on your level of education In a debate about simple economics, you could barely string together 3 words |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Nobody: 12:48pm On Apr 29, 2021 |
iammo:Firstly naira is not a real money if u look at it because almost no body would accept it in the international market Naira is just a receipt of dollars in the nigerian foreign reserve LMAO you comparing naira and dollars you no really well bro Naira is not money it's a dollar receipt ... printing receipt when you don't have goods is a crime |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 12:56pm On Apr 29, 2021 |
Igbochief001: As long as Naira is a legal tender used for exchange of goods and services then in all sense of monetary value Naira remains a real money.... Countless Countries have their Foreign reserves in Currencies like Dollars and that doesn't nullify it's value in comparison to Gold or commodity backed currency Should the RMB / Naira currency swap deal pull through, or ECO / Naira deal would you still call Naira a receipt of Dollars |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by MuyiBinary: 1:13pm On Apr 29, 2021 |
iammo: So why is govt denying what Obaseki said? |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by iammo(m): 1:13pm On Apr 29, 2021 |
MuyiBinary: Because they didn't Print or mint Money ( atleast not in paper form) If CBN credits your account with 60 billion naira and you received the bank alert, it doesn't mean CBN went to print 60 billion paper money to give you |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by SIRAO(m): 1:18pm On Apr 29, 2021 |
Igbochief001: stop disgracing yourself please, go and read what is called fiat money to update your knowledge. |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Nobody: 2:06pm On Apr 29, 2021 |
SIRAO:Fiat is money backed by nothing just Demand Is naira backed by nothing ? Lmao |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Nobody: 2:07pm On Apr 29, 2021 |
iammo:Naira is a receipt of dollars because it's usage is very limited and it's value is backed by dollar and other foreign reserves |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by tit(f): 2:11pm On Apr 29, 2021 |
No money for BMC!!! Una think say Oga go put hand for him own pocket? Meanwhile, because of insecurity, traders cannot trade, Farmers cannot farm, Drivers cannot drive Even okada cannot fly, So no Roger for inspector. Half salary for civil servants |
Re: Zero FAAC Contribution For May - NNPC, Obaseki Vindicated by Sirjamo: 2:45pm On Apr 29, 2021 |
Obaseki should pay his IOU He has used his fat mouth to cause trouble for other governors. By the time CBN began to deduct their gbese from monthly allocation, only Lagos will be able to pay salaries. |
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