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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan (24002 Views)
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Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Racoon(m): 8:54am On Aug 22, 2023 |
Government of lies and propaganda being bursted left right and centre |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Ngozi123(f): 8:54am On Aug 22, 2023 |
Tareq1105: Are you telling me that if an avid Tinubu supporter became President today and started complaining about Tinubu's governance, you wouldn't laugh at them? Tinubu should be blamed for the previous administration's failures. Before the election, him and many of his supporters were bragging about putting Buhari in power. Why the change now? 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 8:54am On Aug 22, 2023 |
MTNnews: Shut up you ignoramus. OBJ meet just 1.5bn in reserve. The amount Yaradua, Jonathan and Buhari met in the reserve was saved by the same PDP you dirty ignoramus love to denigrate. APC is a massive failure 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by EARN: 8:55am On Aug 22, 2023 |
This is not at all alarming, it's a remark possibly intended to get more information/positioning on the strategic steps of those managing Nigeria's foreign reserves. -CBN). These figures are estimate that considers the recent borrowing against reserves and currency swaps. JP Morgan believes the real reserve is smaller due to these factors. They adjusted the total forex reserves by including their own $5 billion in International Monetary Fund Special Drawing Rights (SDR), resulting in about $37.8 billion in total gross reserves. The CBN i believe will handle the pressure despite low reserves because of profitable swap arrangements with banks. We have changed guard and policy, we should expect a recalibration or balancing act, the news has both positive and negative aspects. On one hand, the fact that Nigeria is engaging in swap deals, futures contracts, and forward contracts suggests that the country is taking proactive steps to manage its foreign exchange reserves and financial stability. These financial instruments provide a level of flexibility and risk management in dealing with currency fluctuations and economic challenges. For me, this news is calling for more info, audience, business or reminder to the Govt to respond in particular way or manner. Thats why its out in the public dormain 4 Likes 2 Shares |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by BENEAMATA: 8:56am On Aug 22, 2023 |
waledeji:let it go . Nobody beats a goat for head butting Can't smack a dog for barking , but anyone trying to tame the mad dogs especially must be resistent to rabies . We are enjoying his types' daily market square display but who wants to give birth to his type . 1 Like 1 Share |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 8:57am On Aug 22, 2023 |
mrvitalis:Don't mind the nincompoops. Kyari just went to borrow $3bn based on crude futures to pay for subsidy. They are all blind to that now. Few years down the line they'll blame Kyari while leaving out the man who sanctioned the move 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Ngozi123(f): 8:58am On Aug 22, 2023 |
josielewa: How do you think this will be affected if Nigeria stages a military intervention. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by imbless: 9:00am On Aug 22, 2023 |
Kukutente23:Please how can Tinubu support a monumental failure like buhari twice, if not for his own self interest? |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 9:00am On Aug 22, 2023 |
2pacarnate:Don't generalise. It's Tinubu APC supporters. There are Igbo and other tribes among them too 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by TinubuThief: 9:01am On Aug 22, 2023 |
MTNnews:You are insane and demented just like you EbolaTinubu 2 Likes |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 9:02am On Aug 22, 2023 |
grandstar:Oh now you're doubting. But you were never afraid to quote those claims when justifying subsidy removal. You lots are never sincere. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Dshocker(m): 9:02am On Aug 22, 2023 |
Can you imagine...... Buhari is a bastard. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Felix6: 9:04am On Aug 22, 2023 |
richard870:. eeh you dey my mind 0, just the same way I wanted to spew it. 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Okwyjesus(m): 9:05am On Aug 22, 2023 |
Taylor90: Deciet! Deciet!! Deciet!!! |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Felix6: 9:05am On Aug 22, 2023 |
After EMILOKAN use am do blood transfusion finish, E go dey read Negative. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 9:07am On Aug 22, 2023 |
seunmsg:Another APC lying machine. If you claim the reserves have been on a decline since 1999 can you explain how reserves grew from 1.5bn in 1999 to $65bn in 2008 and leaving it at $35bn in 2015? You APC minions helped destroy this country by doubling down on Buhari just because you want to see Tinubu become president in 2023. It is that selfish desire that has brought us to where we are. So you guys should stop shifting blame. Own up to the results of your political strategy. 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Brushstrokes20: 9:09am On Aug 22, 2023 |
DAMMMMMMMMNNNN IT! Nigeria is being ruled by A SATANIC bunch of SELF SERVING, CHRONIC, INSATIABLE THIEVES! |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by SmartPolician: 9:11am On Aug 22, 2023 |
EyeCumInPiss: No, you are totally wrong The strength of your foreign reserves tells foreign investors whether to invest in your country or not. If you don't have enough foreign reserves, it scares foreign investors because it suggests to them to that they could be taxed multiple times for a broke economy to keep going. Secondly, huge foreign reserves mean your currency is well hedged against any unforeseen circumstances, say war, hyperinflation, etc. So, huge foreign reserves strengthen a country and make them great destination for foreign investments. Every country needs foreigners to pump money into their economy and help them grow and create jobs. It's quite unfortunate APC has been lying to us for years now. 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by josielewa(m): 9:11am On Aug 22, 2023 |
Ngozi123:The highest financier of ecomog/ecowas is nigeria...We have banditry and terrorism in our suburb states. The money to be used for military intervention isn't contained in the budget of 2023, so the money for arms replenishment and military wages must come from somewhere...the budget.It gets depleted because of no provision for military intervention, then the next thing is to keep borrowing especially if the war is prolonged and the cost of the after effect of the war is still there... 1 Like 1 Share |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by BarrElChapo(m): 9:13am On Aug 22, 2023 |
Whytelyon: Whytenylon please remove the polythene in your brain 😀 |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by nairanaira12: 9:13am On Aug 22, 2023 |
EyeCumInPiss: The amount of billions in foreign reserve determines if the common man can havr a better life 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by BarrElChapo(m): 9:14am On Aug 22, 2023 |
Nteogwuija: 😀😀😭 |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Codes151(m): 9:14am On Aug 22, 2023 |
Buhari don squander everything lol. Olodo |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Elibaba1: 9:15am On Aug 22, 2023 |
BarrElChapo: You should be ashamed of yourself. Everything is not sentiment and politics. The projection by JP Morgan is there’s no money saved from subsidies anywhere like Tinubu claimed. And if CBN accesses the $3 billion loan it wants to inject into the economy to stabilize the naira. Then $3B loan - $3B reserves . It means Naija is in serious comatose. The Economy has shrunk. Wether it was Buhari or Tinubu dealings, the point is that APC has dealt with us. And the plan to stabilize the naira against dollar just can’t work! Nigeria is on a downward spiral and brace up for tough times. Economics is not sentimental, how you manage it is what you get. Now it’s left for you to keep defending or see clear reasons. 2 Likes |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 9:17am On Aug 22, 2023 |
imbless:Of course it's for his own interest. The truth is most of our politicians are not patriotic. They see our public offices like a booty to be captured. Just imagine kicking Jonathan out just so you can reinforce Buhari twice while it was obvious by 2019 that he had no mental or physical ability to continue as president. Now, even him and his supporters lack ideas on how to rejig the economy. He is only joining forward to squeeze Nigerians tight while waiting for foreign investments. APC and their brand of snake oilman politics have destroyed this country |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by lapintoz: 9:18am On Aug 22, 2023 |
😃😃😃😃 children of hate....how market. Your wailing shall never end. For the next 8 years you will continue to be in pain ceaselessly. In addition, you are a raggae dancer ala Wike. I wonder what your father or grand father or lineage has ever achieved in life that you can lay hands on as inheritance aside for hate. Continue, mumu. Taylor90: |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by grandstar(m): 9:18am On Aug 22, 2023 |
Kukutente23: In economics, data accuracy is extremely important. How can Tinubu claim he saved billions of dollars in just one month when $10bn was the amount to be saved over a year. Can you show me exactly where the government said it has saved billions of dollars in a month from the subsidy removal? If you said billions of Naira, that's a totally different ball game. I just need evidence. Please note I am not judging you in any way. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Iko5000: 9:19am On Aug 22, 2023 |
Yep and it's easy to know why . cursedAbiola: |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by MTNnews: 9:19am On Aug 22, 2023 |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 9:27am On Aug 22, 2023 |
MTNnews:It is your father that is ashamed not mine. Yaradua and Ebele met $45bn which was saved by OBJ. They are all PDP. If you're not daft, ask yourself why Buhari could not improve on $35bn he met but depleted it for his fellow party man to $3bn. So why call PDP into APC's mismanagement of our reserves? Your claim of PDP destroyed this country is a silly as it is dumb. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 9:30am On Aug 22, 2023 |
grandstar:Tinubu claimed he saved N1trn in July. You also claimed it as evidence his policies are working. N1trn then was about $1.5bn. |
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