Emefile is bemoaning excess liquidity in circulation as the reason for hyperinflation and naira devaluation when the real reason is that he has been running the printing press on full blast printing counterfeit money.

Counterfeiting is the unauthorised reproduction of legal tender. Legal tender is a physical instrument held to be later produced to redeem goods and services. Since Emefile had nothing to back his printed naira in the form of dwindling forex, Emefile was in effect counterfeiting the naira and debasing it as he went along in his deliberate destruction of the naira.

This man thinks we are fools.

Who printed all that now worthless naira in circulation if not same Emefile?

And somehow he is blaming physical cash and hoarding as reason for naira devaluation?

The very concept of a currency is to be in circulation as a means of trade. Currency in the vaults do not serve any purpose.

Its funny how we now see paper currency as a store of wealth when it was never conceived for such but rather as a means of exchange for stored valuables.

Paper currency were issued in retrospect to amount of gold or silver or any valuable commodity in store. The Naira isn't backed by Gold or any precious metal which every paper currency worth its ink ought to have but rather it is backed by the amount of another fiat currency the USD in foreign reserves . Emefile hit the print button and we ended up with excess naira in circulation while Buhari and his goons looted the dollar reserves.

This is how it works for these financial terrorists:

1. Loot the country's foreign reserves dry

2. No forex to fund the import based economy? No problem. Simply devalue the naira, increase import levies, ban imports on a wide variety of goods, operate a parallel forex market to benefit govt cronies and the cabal. No more forex ? No problem print more worthless paper money.

3. Hyper inflation sets in owing to: high forex , high interests rates set by same Emefile, anf high import levies and taxes thereby increasing the cost of doing business in Nigeria.

4. Naira crashes further.

5. Blame the citizens for paradoxically hoarding worthless naira and at the same time dumping it.

Emefile's tenure as CBN governor must be studied in schools as a course on "How not to run a central bank".

I recall when Obaseki came out early this year to warn that Emefile was printing naira to augment the reckless spending by the Buhari rogue govt. Same Emefile not only denied this but went on to even threaten state governments by saying he will begin deducting bailout funds from their monthly allocations. The man has gone rogue and obviously intoxicated by his current position as head of the CBN and must not be allowed one more day in office but for some reason the lame duck useless National Assembly haven't seen reason why Emefile must first be investigated for gross incompetence and high treason and summarily impeached and tried in court for criminal negligence and economic sabotage. This lack of check mechanism has emboldened the bald headed vulture to double down on his ongoing rogue duties and he now operates with an air of impunity that he has the audacity to threaten state governors and other politicians who question his performance . I do know Emefile has politicized and weaponized his position as CBN governor to blackmail State governors by not only threatening to deduct bailout funds from their meagre allocations but also to supply financial intelligence to the EFCC and ICPC to be used against any who dare interfere in his ongoing high treason.

Then there is the anchor borrowing scheme and other social intervention schemes that saw to flooding of more naira into circulation under the guise of covid 19 relief. 90% of the money was looted by those in high office and now that the repercussions of wasteful spending is hitting us, Emefile is now debiting all BVN linked accounts of SMEs and farmers that were given grants .

Emefile is the very problem and no one else.

The excess liquidity he now wants to blame on physical cash which he oversaw to its counterfeiting and circulation into the economy is not the problem but rather Emefile's recklessness coupled with the unprecedented corruption going on in the satanic Buhari APC govt.

Now you can take all that to the bank.

When there is too much circulation of money it becomes so useless, I taught he was or is smart enough to see that the out come won't be favorable in the money market. Redesigning of the currency won't do anything, he should no that ₦500 should be removed like wise ₦200 there by re introducing the coins back and also making the flow of the dollars not become a medium if exchange just like the way they did with, was it China or so. Things are very hard in things country

@OP a.k.a mad monk, So its no longer the fault of the rothschillds and george soros of this world ?.

Conrod:
@OP a.k.a mad monk, So its no longer the fault of the rothschillds and george soros of this world ?.

Go and be a kike nigger some place else

Osu

I don't know what type of economics Emefiele studied at school. He is such a poor comparison when placed alongside Soludo and Sanusi.

blackmantis:
I don't know what type of economics Emefiele studied at school. He is such a poor comparison when placed alongside Soludo and Sanusi.

Emefile is a career banker and as CBN governor he priotized the liquidity banking sector over every other economic development .

Nigeria is an example of how terrible liquidity based economy leads to only bennefiting the grifting banksters.

Emefile has no business being near the CBN

blackmantis:
I don't know what type of economics Emefiele studied at school. He is such a poor comparison when placed alongside Soludo and Sanusi.

Emefiele did not study Economics, he studied finance in UNNNOW Banking and finance.
In the real sense,he has no business in CBN as governor

wasiubello:

Emefiele did not study Economics, he studied finance in UNNNOW Banking and finance.
In the real sense,he has no business in CBN as governor

I talk am.

No wonder he is only protective of banks and their unproductive usury business at the detriment of real sectors


The man needs to be sacrificed to every god in the land.

Send his left blockus to Ife and the right one to Nri, Anambra and bury his head in the Atlantic to pacify mammy water spirit

Bump