Everyday you wake up, things get really scary. These guys are dumb.

.the first parapo clueless incompetent..giving emilokan excuses..

..they have adopted parapoism to destroy the economy of the geographical expression..

..the blockhead governor prefers parapo sophisticatiion to unorthodox one..

..empty emilokan blockhead..

happney65:
Bros you are not serious at all. Do you understand what you're saying sha? You know what the current interest rate says? Making it expensive for business people who take bank loans

Egbon,E lo sun

And you are crying about inflation.....what better way do you have to manage it?

Now that Cardoso is there, let's see his Orthodox methods alongside the policies of TPain on how well it they will in this same mess they created.

Taich:


Since BAT came on board, BAT and his crew, always speaking without thinking, running around like headless chicken. They only thing they understand is looting and squandering borrowed funds.

It's easier to buy 100mb data and criticise!! What do you know and what can you do?

nah wah oo.Wey our ECO,BANKING/FINANCE GRAD and Erudite Professor(s) of ECONOMIC to coma rescue us from slow people

Emagbo wereh!
The worst and the most clueless CBN Governor.
Your orthodox methods has obviously landed us in more inflation and suffering than any of the past CBN Governor's.

Tinubu has assembled a team of unqualified individuals who are negatively impacting the economy and causing significant suffering in the country. Buhari's team was much more competent than Tinubu's.

The Lagos boys that knows it all will use orthodox method to make nigeria the fastest growing economy in the world just like they did in Lagos

HenryThegreat1:
Ewu
U are a big fool.

A typical yoruba man will condemned others not himself

Omoslim26:
Someone should tell this alajo shomolu to go and sit down and talk about anything related to Economy

This one is the dumbest CBN governor ever liveth in Nija

It's easier to sit in your room and criticise without having been able to do anything with your life....many of you do not even have the integrity to be trusted with ordinary 10k.....ordinary community CDA you cannot run properly.

happney65:
Bros you are not serious at all. Do you understand what you're saying sha? You know what the current interest rate says? Making it expensive for business people who take bank loans

Egbon,E lo sun

Alternative view from another member of this site

grandstar:


I would never advise encourage anyone to keep his money in Naira. The fact the budget predicted that inflation would be 21.4% this year speaks volumes. The higher your inflation rate, the more likely your currency will depreciate.

In addition, monetary policy is loose. The CBN refuses to increases interest rates higher than the inflationary rate which is very crucial for bringing down inflation. Tinubu has always been an apostle of low interest rates as he believes that high interest rates kill businesses.

This is the problem with many of you. You either don't listen or you refuse to learn. You simply want things your way, refusing to understand the science behind it.

For instance, a skilled forex trader knows that when non-farm payroll shows an increase in employment, the dollar will strengthen. If there is a decrease in employment, the dollar will weaken.

Tianamen1 knows that when the US Fed increases rates, other currencies will weaken against the US dollar. It is such established theories and principles I work with, and not just simply what I like or don't like.

If the Naira depreciated recently, it could be for many reasons.

The increase in the minimum wage would mean there's more money in circulation, hence more money chasing dollars.

The budget deficit is still quite high. When Tinubu came in, 97% of government revenue was used to service debt. It is now 65% which is still rather high.

If the government increases interest rates by some percentage it would lead to an appreciation of the currency.

Anyway, what matters most is that the country has an exchange rate that is competitive and it can defend.

The foreign reserves has grown from $31bn to $39bn which indicates the float worked. The Naira is market determined after 8 years under the economic illiterate policies of Buhari.

The government should do more to fight inflation by increasing interest rates.

If there's a spread between the exchange rates, this wouldn't be the first time. The CBN can correct this by either selling dollars to the BDC's or allow the currency to depreciate. Oluyemi Cardoso said he isn't ready to blow $1bn monthly defending the Naira. I fully agree with him on that.

See the type of mumu they gave an important position to. Imagine?

IDIOT. Why can’t you use same
Foolish man
Foolish man
Tall people don’t usually have sense

I'm so disappointed that a Yoruba president and his Yoruba financial team have failed woefully at improving our economy. I was so convinced that the usually tagged most intelligent and educated set of Nigerians will do better than Buhari and Emefiele. Damn!! I was Soo wrong. God forgive me

Lithiumite:


And you are crying about inflation.....what better way do you have to manage it?

He is using the wrong approach to address the problem

He should be addressing other fundamental and structural problems affecting the economy. Though these are actually outside the scope of CBN.

This is a cost-push inflation caused by the corrosive policies of PBAT.

bennybuhari:

https://thescrutinyng.com/2024/10/29/emefiele-used-unorthodox-methods-to-grow-nigerias-economy-cardoso/

Until 250million people die from your orthodox method?

This man is just incompetent. They keep telling you your foreign reserves is growing while we are being listed amongst hunger driven countries .

People should know that tax payers don't give a dime how you get things done as long is not illegal. Get things done and stop complaining.


You guys said it was Binance. You guys said it was the corrupt practices of the CBN directors and bureau de change... we agree. You guys have taken measures yet no result. Give these man 5yrs nothing will be done.

This stupid dumb fool. In a country where the informal economy is larger than the formal economy, where the number of unbanked is more than the banked, where the total amount of money outside the banking system is more than what is in the banking system, ofcourse you will have to deploy unorthodox methods to get your economy to respond.

This useless CBN governor is here talking rubbish.

Sheuns:
And you’re using orthodox methods to cripple the economy.

Even oyinbos use any method to grow their economy including crippling the economy of the nations where they get their resources so they buy the raw materials very cheap

U come use Orthodox method, come paralyze Nigeria finally.

bennybuhari:

https://thescrutinyng.com/2024/10/29/emefiele-used-unorthodox-methods-to-grow-nigerias-economy-cardoso/

Don't hustle backwards Sir.

VeeVeeMyLuv:

That's very very unfortunate

It is only pathetic APC regime that can do this rubbish

This guy is talking about orthodox and unthordox when, naira keeps on plunging into the abyss, inflation is tipping towards hyperinflation and the purchasing power of citizens have been effectively destroyed by clumsy policies of free market pure capitalism supervised by kakistokratic kleptomaniacs under an atmosphere of corruption.

Majority of masses pockets are drying up because of your clumsy policies.

In a bid to bridge the gap between official FX and parallel rate, prices of goods and services keeps flying up, recently your boss increase petrol price again. You don't leave your currency for speculators to feast on. Making a living off this menance has damaged the currency. Maybe it's time to review your policies.

If you guys don't have the knowledge of how to handle the economy effectively, productively and sustainably mellow down, humble yourselves and go beg the PDP predecessors for wise counsel. Ask Prof Soludo how he managed your CBN during his time.

Though the nature/kind of challenges faced in the past are quite different compared to the present. Different times, factors, realities.

Mr economist wehdon!! You need to reckon that it is no easy fit to keep the dollar at even the 1,700 it is right now.....we should have been at over 2,500 by now if not for the ability to meticulously manage the economy.

You are all crying about inflation,CBN has raised interest rates severally to check this and its succeeding which ever way you look at it.but cynist like you who have no solution to the problem are only good at castigating every govt policy just because you were defeated in the last election.

Tinubu,atiku and obi during the last elections had a point of convergence on subsidy removal and foreign exchange liberalisation and tinubu is the only president in a long time who told us what he is going to do and is following through with it.

Subsidy removal.
Naira floatation.
Student loans.
Separation of budget and finance ministries.
Increased investment in oil and gas sector.
Consumer credit.
Improved welfare and independence for the judiciary.
$1 trillion dollar GDP.

You need to atleast give kudos to this man for atleast following through with his plan and sticking to it ... That's the only way we can get our economy out of the woods and this will take a lot of hard work and resilience.

Just look at this man ..then use your orthodox method to grow the economy you can't rather you are shrinking it with the speed of light

EmeeNaka:
When did CBN governors start talking about their predecessors?

It is very clear Godwin Emefiele understands Economy more than Cardaso, he is miles ahead of this failure that took exchange rate to 1800 from 600 in a year of being in office thereby thwarting my Japa plans

Teymanhenry:
I'm so disappointed that a Yoruba president and his Yoruba financial team have failed woefully at improving our economy. I was so convinced that the usually tagged most intelligent and educated set of Nigerians will do better than Buhari and Emefiele. Damn!! I was Soo wrong. God forgive me

What do you think the government should do to improve the economy? Just curious, I no dey support this government.

One of the Tinubu apologists on social media lamented yesterday how difficult it is to defend Tinubu's bad government on social media.
When you try to put in a defense for Tinubu, he drops another Bombshell

Just to speak big grammar upadan without action..confused Leaders

LordIsaac:
And see where the orthodox method left us!

Hahahahaha

Oluwole orthodox methods

Sheuns:
And you’re using orthodox methods to cripple the economy.

but at least he said the truth that unorthodox methods grew the economy and his orthodox plans are pushing us backwards,nigerias problems are so intertwisted and bizzare that a new type of crazy plans and ideas must be used

Taich:


Since BAT came on board, BAT and his crew, always speaking without thinking, running around like headless chicken. They only thing they understand is looting and squandering borrowed funds.

It is unfortunate when we have bunch of illiterates parading themselves online and constituting nuisances just because they have 5MB of data.

How did we get here that we will have youths that cannot read for themselves

Where in Cardoso speech did he mention Emefiele

Our lazy youths have turned themselves into headline readers (headlines that were written by equally lazy and mischievous youths, online warriors).

This is sad. However, it is expected, since the election loss, some people have thrown their medulla away and replaced it with hatred and bigotry. What a shame!!!

Anyways, Tinubu till 2031. ♾️

patrickcollins:
It is very clear Godwin Emefiele understands Economy more than Cardaso, he is miles ahead of this failure that took exchange rate to 1800 from 600 in a year of being in office thereby thwarting my Japa plans

Emefiele left the economy where 90% of government revenue was being used to settle debt, and it was becoming difficult to meet international obligations, plus our forex reserve was effectively 4 billion dollars.

That is what led to the measures such as devaluation and partial subsidy removals...to reduce amount of government revenue being used to settle debt.