https://www.youtube.com/watch?v=It2zHSJBZns

During an interview with Arise TV, the IMF rep for Nigeria said that "a lot of the focus" on ending the free fall of the naira "should also happen on the supply of naira, not only on the supply of foreign exchange". He said that there is a need to "tighten monetary policy; to take liquidity out of the system."

He said, "there are too many nairas chasing yet too few dollars. As I have alluded before, in previous conversations.
It is very important to reduce the amount of nairas, reduce the growth rate of money supply domestically in Nigeria."

"In parallel also, fiscal policies should cease to rely on the Ways & Means."

"All the operations of the central bank that are not conducive to reigning in liquidity, phasing out financing of the fiscal deficit of the government, focusing on price stability, tightening monetary policy is going to be needed."

"It's costly - it doesn't come without a price, but it's a price worth paying."

Recall that Sanusi said the same thing and Bismarck Rewane has been calling for monetary tightening for years.

Exactly

But we all want free money so that we can have our cheap imports...so the CBN does practicies that are bad

But no, people will come here and call him IMF man, and start telling us the long stories of how the IMF wrecked this and that economy.

The harsh truth is, we are in the mess we are in because WE rely on ONE SOURCE OF INCOME, whose prices fluctuate, and as a result the income is never guaranteed, and never enough, so we have to take LOANS, AND MORE LOANS.

That's how we enter the IMF trap.

fiscal policies should cease to rely on the Ways & Means

That's a major way we fund subsidy over the decades...see above.

I am so happy that I am lucky to be earning in dollars.
I have been supporting a project annually with 1 million naira since 2021.
In 2021, I exchanged $1,820 for 1 million naira at the rate of N550.
In 2022, I exchanged $1,388 for 1 million naira at the rate of N720.
In 2023 (Just yesterday), I exchanged $1,000 for 1 million naira at the rate of N1000.
These people are happy that I am a loyal funder of the project by giving 1 million naira yearly but they do not know that the value of the money has really dropped due to the Naira / Dollar exchange rate.
I just smile each year when I am about to donate

K

Gbam

Obi to the rescue. Apc tablets is not the cure

We know na...what next ?

will the zoo CBN printing press hear?

printing trillions of naira out of thin air with no backing production to distribute to APC party faithful, constituency fund, trader money, cbn agric intervention, abuja budget for useless parastatals, security vote, subsidy palliative, COVID palliative
monkeys

impoverishing people and answering central bank

Look at the evil criminals in power, APC and thiefiniubui

naira should trade closer to 2000/$ in 2024

You pushed for floating of the Naira, it failed. Now you are saying another thing

IMF

IMF is the one misleading Nigeria. I don't think it means well for the country.

And I'm afraid with the rate at which PBAT is dancing to their tune.

They really want to crash it

Some will ask for his head now.

Any smart Nigerian better start saving jn usdt and usdc crypto
Your currency is dying
Inflation has wiped any salary raise in the last 10 years

nairalanda1:
Exactly

is this why bankers are quitting their jobs to wash cars?


https://www.youtube.com/watch?v=-z8Z4dvgE80

Some have piles of naira in bullion vans in their homes

Courtesy of that bastard Emefile who printed over #30 trillion naira from thin air to float the dissatrous bandit government of Buhari.

Normal

Nigerians obsession with US dollars.

Lol IMF advice Subsidy must go we follow the advice....


Float Naira we did...

Everything went into shambles...


Right now all policies looks good on paper if u like goan bring it from Havard jus be ready cos people are always on alert to milk it...


Just know you're dealing with 200m desperate people we are no more in the era where people cherish morality buh ready to look for loopholes nd survive.....

ok

They are about to make this illiterate implement another policy that will mop out Naira.

Certificate-less president

Buhari should please come and explain how he repaired our economy with “Ways and Means”

The discussion should be how to solve.... Not telling us the problem we all know

True.

At the height of German inflation after WWI, the Mark was exchanging for billions to a single dollar. You could order a cup of coffee, finish it and by the time you oder an extra one, it has gone up from 15,000 Marks to 20,000 Marks.

The illegitimate government of Mr Certificate forger Heroin drug baron have no solution to the free fall naira and elusive forex question.

Dimaya:


is this why bankers are quitting their jobs to wash cars?


https://www.youtube.com/watch?v=-z8Z4dvgE80

Yeah, because at the end, our economy is in a mess. and we are broke.

Or you expcet me to praise the government...the same government that got us in this mess?

Better listen to better advice. Nigeria is broke. We need to change the way we do things.

Emefiele did not know Jack. Man was just using our economy for some trial and error economics.

I have said this ten times already here

Tinubu is printing trillions of naira and using it to buy dollars to loot - that’s why the naira is dying steadily- 😟

Stupid, wicked, satanic, organisation

Have you given US such advice?