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Nairaland Forum / Nairaland / General / Business / Kingsley Moghalu Reveals The Problem With The Naira (24919 Views)
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Re: Kingsley Moghalu Reveals The Problem With The Naira by EreluRoz: 11:12am On Jan 26 |
Gbadugbakun:Don't jump into conversations, it started somewhere. I said revolution is the only permanent solution to the problems of the country and not some recycled politicians, that person you are thinking is the solution would have been worse. I know what I'm saying 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Piroty: 11:12am On Jan 26 |
Artscollection: I don't trade in naira, research or ask questions before potraying ignorance 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Tonytonex(m): 11:13am On Jan 26 |
Piroty:how can one start please? And what kind of trading forex or crypto? |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Piroty: 11:14am On Jan 26 |
Tonytonex: Both, you can start by learning on tour own or requesting help from a professional 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Gbadugbakun(m): 11:18am On Jan 26 |
EreluRoz:Tinubu was the worst candidate on the ballot. He had no plan for Nigerians aside looting the country's Treasury. It's your hatred for Igbos that's made you choose him. I hope you're happy with the way the country is? 4 Likes |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Tonytonex(m): 11:19am On Jan 26 |
Piroty:ok thanks. I will do that. Will 50K be enough to start? |
Re: Kingsley Moghalu Reveals The Problem With The Naira by PaulH07: 11:19am On Jan 26 |
nlfpmod: Problem be say nobody is even interested in anything else Nigeria is exporting again sef. We've so bastardized our image, that the only two things the world knows us for is our Oil and Lack of Integrity. Appalling. 2 Likes 1 Share |
Re: Kingsley Moghalu Reveals The Problem With The Naira by HIPROFILE(m): 11:20am On Jan 26 |
This man is only repeating what Peter has always said: Moving from consumption to production. This is what other countries who where once in our situation did and today they are all way better than where they came from. 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by komekn(m): 11:21am On Jan 26 |
EreluRoz: You are delusional |
Re: Kingsley Moghalu Reveals The Problem With The Naira by bjcole(m): 11:21am On Jan 26 |
EreluRoz: You are speaking from both sides of the mouth. You want a revolution on one hand and on the other hand, the president has a good intention, let this good intention turn to good country for us so that our foreign exchange could shore up.. You don't what you are saying. 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by blueAgent(m): 11:21am On Jan 26 |
codemaniacs: Did you read what you wrote here? Clown. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Babangidapikin: 11:21am On Jan 26 |
Please spare us the grammar .. we all know our problems ..question is what is the solution .. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by komekn(m): 11:22am On Jan 26 |
1Alex: He has already FAILED. 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Tonytonex(m): 11:23am On Jan 26 |
Uncletony:where the money dey. One million naira now is not even up to a 1000 dollar. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by EreluRoz: 11:25am On Jan 26 |
Gbadugbakun:If you can't have a healthy conversation then avoid me, stop projecting rubbish. Have a nice century |
Re: Kingsley Moghalu Reveals The Problem With The Naira by alimiadedayo1: 11:26am On Jan 26 |
Piroty:pls send your what app number |
Re: Kingsley Moghalu Reveals The Problem With The Naira by emkz: 11:27am On Jan 26 |
poseidon12: We run a federal system, with elected officials. State governors destroyed local government administration for reasons only they can explain. The only state where local government is effective is Lagos State. When there was Badoo boys in Ikorodu, the local government administration and the traditional institutions dealt with it and the state and FG consolidated their efforts. State governments can solve these problems. Set up vigilante. The locals know the criminals among them. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by cucumbar: 11:27am On Jan 26 |
1Alex:Oloshi |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Gbadugbakun(m): 11:28am On Jan 26 |
EreluRoz:Lol the truth they say is bitter. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by bjcole(m): 11:29am On Jan 26 |
emkz: Your argument is riddled with confusion. Thrash. Dollars was #735 before Tinubu floated it about 7months ago, now it is #1400. Tell that President that he has destroyed the economy..How can you float Dollars in a country where you don't print Dollars. Tinubu is responsible for the state of Nigeria economy and it's just a pity. 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Tranquility2345: 11:31am On Jan 26 |
Angelfrost: As I read ‘rock science’, I knew I was dealing with a dullard and stopped reading. Can’t waste my brain cells with slow pokes in 2024… |
Re: Kingsley Moghalu Reveals The Problem With The Naira by ncoolsome(m): 11:32am On Jan 26 |
EreluRoz: Nobody will award you for good intentions but rather actions |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Angelfrost(m): 11:32am On Jan 26 |
Tranquility2345: Lol... And, you didn't see the inverted commas or highlights?!! Whatever you're fishing for, you won't find here. Quit being a nuisance and get busy with whatever you call an existence. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Piroty: 11:34am On Jan 26 |
Tonytonex: To Start trading or start leaning ? |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Piroty: 11:34am On Jan 26 |
alimiadedayo1:its on my profile |
Re: Kingsley Moghalu Reveals The Problem With The Naira by bjcole(m): 11:35am On Jan 26 |
emkz: You.dont have an idea of what is going on Nigeria, you are illinformed or you want to shield your principal from responsibilities. You are comparing Badoo to Banditry and terrorism. You don't have an idea at all. Nigeria is in a wrong hands, it's only by the mercies of God that we can escape. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by COMPAQ(m): 11:35am On Jan 26 |
poseidon12: Restructure is not really the issue!! If you cant hold the federal government, how will you hold the State government?? When Nigerians are ready to hold anyone, we will know!! I keep saying it, thousands of Nigerians came out to walk for Mo'bahd!! Call those same Nigerians to walk in Abuja against poor economic management and corruption, they wont show up. 1 Like |
Re: Kingsley Moghalu Reveals The Problem With The Naira by danzaki63: 11:40am On Jan 26 |
Is it now you realised this? after you had helped in the lootong of the economy, you have now turn around to give a belated advice. What did you do as a deputy Governor in Central bank? What? |
Re: Kingsley Moghalu Reveals The Problem With The Naira by Tranquility2345: 11:43am On Jan 26 |
Angelfrost: I will teach you for free. Make you no go embarrass your papa again. It is ‘Rocket Science’ and not ‘Rock Science’. Mugu. E sure me say na village school you go. Come on get out of here before better Yamayama fall on that your dull band head. Lazy youth like you ![]() |
Re: Kingsley Moghalu Reveals The Problem With The Naira by emkz: 11:45am On Jan 26 |
bjcole: Did you just say that Tinubu floated the dollars? You are such an intelligent person. Wow!! If your intelligence is not suspect, you'd realize that the state of the Nigerian economy is a culmination of years of governments that didn't understand how to manage the economy. Currency is but one component of the economy. Are you not old enough to know that years of successive governments defending the naira by subsidizing the dollars was not a sustainable practice? What is attacking the naira? The only thing attacking the naira is unregulated consumption of foreign goods. If you consume locally produced items, your dollar burden reduces. When government subsidizes the dollar, those who benefit the most are the rich who import foreign cars, wines, clothing, babes, etc. The average man wants to eat, have a decent accommodation and have a decent wage to cater for his family. By subsidizing dollars, we wasted money that could have been spent on building factories, infrastructure and education on subsidizing the rich. The end game is poverty of the majority. It was not a sustainable practice. Finally, we are all guilty of these crime of attacking the naira. I see many people holding the dollars in their hands and even opening bank accounts in dollars. In Nigeria, we operate a dual currency regime of dollars and naira. This is illegal. I have travelled to several countries in the world and the only country where I see people charging things in a currency different from theirs outside an airport is Nigeria. Even some embassies collect fees in fx. This is wrong! If government sees dollars in anyone's hands, it must be assumed that it was stolen because it is not a legal tender within Nigeria. Banks too need to be stopped from opening accounts in fx for anyone within Nigeria. It is not done anywhere else. In Nigeria, everyone wants to have dollars and come out boldly to blame Tinubu for excessive cost of dollars. If those people who hid dollars bring them out, the price will re-equilibriate. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by emkz: 11:46am On Jan 26 |
bjcole: Propose solutions since you claim to understand everything. |
Re: Kingsley Moghalu Reveals The Problem With The Naira by pipnator00(m): 11:48am On Jan 26 |
The Naira/US$ situation is very pitiful and more disturbing because, no matter how hard the government of the day tries to control the exchange rate with the I&E window rate, they can't. They have lost that power and even the aboki's have lost same power to fix the rate for the parallel market. The power and the REAL exchange rate is now determined by the activities of the peer to peer exchanges happening in all these crypto platforms. *** These peer to peer traders watch and follow the Naira/USD chart. No matter what the govt says or does, the chart will always tell them the truth. And they know certainly its stewpeed to buy the Naira against the dollar at this stage. Looking at the chart, US$ likely to break a resistance on the daily and if that successful happens, CERTAINLY Naira will trade NGN1500 against the dollar by the end of next week. (The only thing that may stop that from happening now is, its the end of the month and profit takers might slow that but it will certainly happen say.. 2 to 3 weeks from now.) 1 Like
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