seankafor:
by DYOR

U no show love o

izzou:


Dem dey save trillions, but are managing to pay their own salaries.

You need to be insane to understand this country

liveLongNprospa:

What will bringing them in do? 😁
How does that stop people from moving their fx to where it will favour them in terms of rate?
What will the CBN use to still defend the naira?
Because surely you don't think we can defend the naira and surely we don't have the environment to manufacture enough to be a major exporting nation to take advantage of the weak naira..

So what's this plan?

Maybe you need to go back and read that post again. Go back n read it and come back if theres any ambiguity there.

Magnoliaa:


Scenes where it is Peter Obi that's in power and you will NEVER make these excuses for him. 🤭🤭

I guess we will know until he's in power.

I am actually waiting for when Tinubu will fail proper and evidently that these guys will resort to another technique of gaslighting by criticising and dropping their support for Tinubu just to say that it is okay to criticise someone they support and that they've stopped supporting him after realising he has nothing to offer, and say they are better and more moral for having the courage to withdraw their support for Tinubu when things have gotten dire so we should give them cookie points. 😂

Or that Nigeria's problems are so peculiar and complex that they are unsolvable - he tried his best.

It was the same way they 'dickrode" Buhari for all of 8 years, defending every single policies he's making only for them to turn on him about 2 months to the end of his tenure saying he was a colossal failure.

I sense a déjà vu incoming.

A reflection arc that never occurred for them to go through for all of the campaign period or based on governance history.

No, people's lives and businesses must be played with for you to reach an epiphany about whom you're supporting.

monerozi5590:



Insecurity na Buhari I blame. He wasn't tough enough.

Nigeria no be ideal country wei some economic policies go work. People will always take advantage.

I saw a circular yesterday that Tinubu has signed the palliative money for federal workers now I am seeing they are managing to pay federal workers. Which one we go take now?

The reason why economic policies have refused to work is because we have refused to lay a proper foundation for them.
Lets assume you want to be an exporting nation. You are dealing with high levels of insecurity ( I don't have to list it). You have horrible power supply. You barely have systems in place to protect people from the corruption (tell me how investors go look this one get mind, when they know anything can happen and no consequence), our backward system that requires you to be begging someone. We have not talked about the settlement aspect sef😁

larride:


Maybe you need to go back and read that post again. Go back n read it and come back if theres any ambiguity there.

Bros.
It's a simple thing, you are bring those guys in to do what?
Who will hold the fx?
We are a nation designed to defend our currency with fx reserves that we don't have.
So what purpose will those transactions be doing?
Is cbn going to use the fx from binance that belongs to customers to defend the naira?
Abi is it the tax that will prop up the naira?
If you say we should stop defending the naira then what is the policy direction of that? Are we going to be an exporting nation?

Where is the "we dodged a bullet crew"? We want to know what we ended up with after dodging the bullet...

Ellexy:
Where is the "we dodged a bullet crew"? We want to know what we ended up with after dodging the bullet...

na hamas type rocket 🚀 propelled grenade we ended up getting

[quote author=Amoto94 post=126509524][/quote]

Amoto, you no go kill person. Funny guy.

Tbh this excuses are watery because it's the same party and the same people. Buhari and APC could at that time afford to use PDP as an excuse but is it APC that the same APC want to use as excuse this time?

larride:


I guess we will know until he's in power.

seankafor:
na hamas type rocket 🚀 propelled grenade we ended up getting

joseph1832:
actually it will still be the same thing we are seeing now, there won't be any difference. Peter Obi will be at the receiving end and Obidients will blame the past administration for the present woes the country is facing.

If there will not be any difference if Obi was there, then why is he not there? Why didn't you and other pro-Tinubu supporters campaigned for him to be there since it will be the same thing?

Are you saying that you supported Tinubu based on the sameness of all the candidates or based on their touted differences?

Didn't you support Tinubu based on his perceived difference and edge over all the others?

If the situation they'll meet with be the same, will their responses not be different, as individual people?

So if Tinubu is so different is comparison to the other candidates, whose governance you judged based on when they were in office, why are we not seeing much different, even slightly, in Tinubu's governance?

At least, we have Otti and Adeleke to point to for examples of changes in their states, a few months apart from the presidential swearing-in, however little.

What exactly can you show to me, just one o, that yes, Tinubu is doing this, and this is slightly changing?

liveLongNprospa:

Bros.
It's a simple thing, you are bring those guys in to do what?
Who will hold the fx?
We are a nation designed to defend our currency with fx reserves that we don't have.
So what purpose will those transactions be doing?
Is cbn going to use the fx from binance that belongs to customers to defend the naira?
Abi is it the tax that will prop up the naira?
If you say we should stop defending the naira then what is the policy direction of that? Are we going to be an exporting nation?

You are not going to have an exporting nation overnight, that is a medium - long term policy planning.

My suggestion is simple, bring all the players into the official market which will stimulate the official market with enough liquidity. Currently there are billions of dollars outside the market that if injected into the official market can stabilize things in the short term.

My suggested solutions are simple

Ban BDC and digitalize all forex transaction, this is to enable the CBN to track all dollar transactions from both demand and supply side. It will also eliminate those who are mopping up dollar for abritage uses. BDC has done more than enough harm to the forex market.

Bring all the IMTOs into the official market, all these players like Sendwave and the likes that operate in cross border payment. This will bring the needed liquidity into the official market as most of the diaspora remittance are through IMTOs. If the CBN can bring them into the official market, it will help with the liquidity that the market badly needed. Only $2bn of diaspora remittance last year pass through the official channel out of over $40bn diaspora remittance.

Lastly they can look for a way to bring crypto exchanges into the official market as well, they can provide regulation framework and all as we have alot of diaspora remittance that comes through crypto also.

These are my own suggested ideas on how these issues can be tackled in the short term.

liveLongNprospa:


The reason why economic policies have refused to work is because we have refused to lay a proper foundation for them.
Lets assume you want to be an exporting nation. You are dealing with high levels of insecurity ( I don't have to list it). You have horrible power supply. You barely have systems in place to protect people from the corruption (tell me how investors go look this one get mind, when they know anything can happen and no consequence), our backward system that requires you to be begging someone. We have not talked about the settlement aspect sef😁

You know all this thing and you are saying "my APC" We have good brains in APC. Someone like Osinbajo/ Amaechi would have done very well. My prayers was Osinbajo but he didn't win the primaries.

Ellexy:
Tbh this excuses are watery because it's the same party and the same people. Buhari and APC could at that time afford to use PDP as an excuse but is it APC that the same APC want to use as excuse this time?

I really don't know what you are saying bro. Are you saying because the last President was from APC and this new one is also from APC, the new administration shouldn't or can't blame the past administration for mismanagement of the economy or what?

joseph1832:
Tinubu is there because he was elected, period.

Who told you Tinubu was the best amongst the three?

So, you genuinely genuinely believed Tinubu isn't better than Obi? 🤣🤣🤣🤣

You have not at any point in your comments on NL here implied this?


You really cannot tell me one reason for why Tinubu was elected if I asked you? Did he not campaign? On what standards was he 'elected' on lmao?

larride:


You are not going to have an exporting nation overnight, that is a medium - long term policy planning.

My suggestion is simple, bring all the players into the official market which will stimulate the official market with enough liquidity. Currently there are billions of dollars outside the market that if injected into the official market can stabilize things in the short term.

My suggested solutions are simple

Ban BDC and digitalize all forex transaction, this is to enable the CBN to track all dollar transactions from both demand and supply side. It will also eliminate those who are mopping up dollar for abritage uses. BDC has done more than enough harm to the forex market.

Bring all the IMTOs into the official market, all these players like Sendwave and the likes that operate in cross border payment. This will bring the needed liquidity into the official market as most of the diaspora remittance are through IMTOs. If the CBN can bring them into the official market, it will help with the liquidity that the market badly needed. Only $2bn of diaspora remittance last year pass through the official channel out of over $40bn diaspora remittance.

Lastly they can look for a way to bring crypto exchanges into the official market as well, they can provide regulation framework and all as we have alot of diaspora remittance that comes through crypto also.

These are my own suggested ideas on how these issues can be tackled in the short term.

But what is the incentive for the IMTOs? The CBN needs them, what do they need CBN for?

monerozi5590:



You know all this thing and you are saying "my APC" We have good brains in APC. Someone like Osinbajo/ Amaechi would have done very well. My prayers was Osinbajo but he didn't win the primaries.

Was Osibanjo not part of the administration that used up all our foreign reserve to defend the naira and even borrowed more to continue to do so?

In the CBN report, in just Q1 of 2023, Jan to Mar, the CBN used over $5bn to defend the naira. I guess that's what you guys want to continue.

Keep using revenue and loan to prop up the value of the naira.

Itsrm:


But what is the incentive for the IMTOs? The CBN needs them, what do they need CBN for?

They don't need any incentive. It's a matter of policy. Also CBN is their regulator, their operations will always reflect the policy of the CBN.

The current policy is that IMTOs source for their own dollar. Most of the IMTOs source for dollars from the parallel market. The CBN needs to change that policy.

You'll notice that most of these IMTOs exchange rate always mirror the parallel market rate because that's where they mostly source their forex from.

larride:


Was Osibanjo not part of the administration that used up all our foreign reserve to defend the naira and even borrowed more to continue to do so?

In the CBN report, in just Q1 of 2023, Jan to Mar, the CBN used over $5bn to defend the naira. I guess that's what you guys want to continue.

Keep using revenue and loan to prop up the value of the naira.

They defended the Naira because it was a fixed exchange rate regime.

I love Osibanjo. I love him die.

larride:
I really don't know what you are saying bro. Are you saying because the last President was from APC and this new one is also from APC, the new administration shouldn't or can't blame the past administration for mismanagement of the economy or what?

Yes?? Because we practice a party-system of governance! Not a zero party that allows individuals to campaign and contest alone!!

Fgs, WHY didn't APC field in their best men? Why? They are a party and that is what they campaign with. Their collective success and losses. If I moved to APC today and I get elected as a governor under them, due to their clout, it will be stupid for them to turn around and disassociate from me when I fail.

Like, why didn't they do their due diligence??

Does a president work alone? Why didn't YOUR party push the best men forward to work with Buhari?

If Buhari blamed GEJ's government, and now Tinubu is blaming Buhari's government, are you not seeing a trend with the APC party itself?

seankafor:
na hamas type rocket 🚀 propelled grenade we ended up getting

😂😂😂

monerozi5590:



You know all this thing and you are saying "my APC" We have good brains in APC. Someone like Osinbajo/ Amaechi would have done very well. My prayers was Osinbajo but he didn't win the primaries.

I agree Osinbanjo will be better

izzou:
APC needs to share the methodology of how they deceived people for 8 years, then deceive them again

Especially the educated ones. How do they do it?

This was exactly how cases were made for Buhari 2016, 2017. Today, the same set are calling Buhari a disaster. The same set again, have raised their shield and armour for the same party.

How dem dey do am? I really need this juju.

If na knowledge, i ready to learn
If na ritual, i ready to sacrifice

This is some brilliant shiiit i need.

2 derica of rice
1 kongo of garri
1 litre of kerosene
2000
E go favour me and family for 8 years

larride:


I really don't know what you are saying bro. Are you saying because the last President was from APC and this new one is also from APC, the new administration shouldn't or can't blame the past administration for mismanagement of the economy or what?

It's simple, the blame game is lame and only an administration without plan will continue to throw blame while everything keeps getting worse under their watch.

Tinubu told us he'll continue Buhari' legacy where he stopped. He said Buhari has laid a good foundation for a prosperous Nigeria and he's coming to take it to the next level..... Why are they now blaming themselves this early morning? Did Buhari scam Tinubu or what?

larride:


They don't need any incentive. It's a matter of policy. Also CBN is their regulator, their operations will always reflect the policy of the CBN.

The current policy is that IMTOs source for their own dollar. Most of the IMTOs source for dollars from the parallel market. The CBN needs to change that policy.

You'll notice that most of these IMTOs exchange rate always mirror the parallel market rate because that's where they mostly source their forex from.

Shey you know there's already a policy that states that IMTOs must not go beyond a set percentage of the I&E window. They are openly flouting it and CBN seems powerless to stop them.

So when you ask the CBN to bring them in and they refuse because there's no incentive like I said, the next thing I believe is for CBN to ban them.

That will only make the already bad situation worse. People will find alternate ways to move money and it still won't pass through CBN.

That's the way I see it.

seankafor:
na hamas type rocket 🚀 propelled grenade we ended up getting

Who will be our Isreal now is the question....

Magnoliaa:


If there will not be any difference if Obi was there, then why is he not there? Why didn't you and other pro-Tinubu supporters campaigned for him to be there since it will be the same thing?

Are you saying that you supported Tinubu based on the sameness of all the candidates or based on their touted differences?

Didn't you support Tinubu based on his perceived difference and edge over all the others?

If the situation they'll meet with be the same, will their responses not be different, as individual people?

So if Tinubu is so different is comparison to the other candidates, whom governance you judged based on when they were in office, why are we not seeing much different, even slightly, in Tinubu's governance?

At least, we have Otti and Adeleke to point to for examples of changes in their states, a few months apart from the presidential swearing-in, however little.

What exactly can you show to me, just one o, that yes, Tinubu is doing this, and this is slightly changing?

I don't know why Larride isn't angry that Tinubu turned his brother's in Ibadan to rice thieves. Yorubas aren't known for this kind of behaviour.

Magnoliaa:


Scenes where it is Peter Obi that's in power and you will NEVER make these excuses for him. 🤭🤭

Don’t ever take anybody that support Apc serious.

izzou:
APC needs to share the methodology of how they deceived people for 8 years, then deceive them again

Especially the educated ones. How do they do it?

This was exactly how cases were made for Buhari 2016, 2017. Today, the same set are calling Buhari a disaster. The same set again, have raised their shield and armour for the same party.

How dem dey do am? I really need this juju.

If na knowledge, i ready to learn
If na ritual, i ready to sacrifice

This is some brilliant shiiit i need.

And look at educated men with families who aren't even remotely close to the largesse defending them with their lives. It is incredibly surreal.