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Nairaland Forum / Nairaland / General / Business / CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% (42435 Views)
CBN Reduces Lending Rate To 11 Percent / Cash Shortage Hits Banks, Overnight Lending Rate Jumps / CBN Officially Devalues Naira (2) (3) (4)
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Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:01pm On Nov 25, 2014 |
Obiagelli:I support the call for decentralisation of the Police Force, it is a good step. However, there is still need for Federal Police and a distinctive intelligence department(DSS) 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by warrior01: 8:04pm On Nov 25, 2014 |
Reading a lot of ignorant responses here. So many even blaming Jonathan but the wise ones are seeing opportunities. Lol.... at people exposing their grade A ignorance all in a bid to criticize Government. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:06pm On Nov 25, 2014 |
BlackTechnology:How stupid can this question get? Algeria diversified its economy, that is why they are able to keep their benchmark so low. Even the Saudis, uae and co aren't as stupid as our government has been. Algerian economy agriculture : 8.4%; industry: 61.1%; services: 31.5% (2011 est.) Mainindustries: petroleum, natural gas, light industries , mining , electrical , petrochemical , food processing, steel 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BlackTechnology: 8:07pm On Nov 25, 2014 |
warrior01: Gbam |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:09pm On Nov 25, 2014 |
CFCfan:Interesting, looks like its different for different state. How exactly do they vote in police chiefs, is the general public that votes? If yes, is it done alongside mayor election? Sorry for my many questions, i am looking for the best method that will work for Nigeria. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:11pm On Nov 25, 2014 |
barcanista:The Nigeria Intelligence Agency (NIA) could be merged with the DSS |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:12pm On Nov 25, 2014 |
warrior01:You are the Ignorant one here. You obviously have no clue on this subject, it is beyond you 6 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:12pm On Nov 25, 2014 |
barcanista:I think the Dss should automatically become federal police. The idea of another intelligence department makes the police look like some group of dumb officers. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:14pm On Nov 25, 2014 |
CFCfan:I don't think they should Merge. NIA is for Foreign/Counterforeign Intelligence while DSS is Domestic. I think it will be wise to leave them distinct. It's like merging internal and foreign affairs ministries 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:14pm On Nov 25, 2014 |
CFCfan: The DSS should become Federal police like the FBI while the NIA remains external like the CIA. My opinion. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:15pm On Nov 25, 2014 |
Obiagelli:It's ok. Registered voters vote for the Police chief just as they would vote for the mayor or president. In about 38 states, the State judges, who preside over the State Superior Courts, are elected officials. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BlackTechnology: 8:16pm On Nov 25, 2014 |
Obiagelli: List the electronic products they produced.? What is the population of ALGERIA.? 2 Likes 1 Share |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by zukkymike(m): 8:16pm On Nov 25, 2014 |
Am not surprised at all,I saw it coming |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:16pm On Nov 25, 2014 |
BlackTechnology:Sure, but non-oil states do not see the big picture. Their insistence on the oil revenue sharing is why we are where we are. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:20pm On Nov 25, 2014 |
Obiagelli:DSS should stand alone for domestic intelligence gathering. The Problem with our present crop of DSS is that they are delving into the Primary areas of the Police Force. Unlike before, you will hardly hear of DSS participating in everything publicly, their job is strictly secret. They don't parade suspects neither do they prosecute in court-That is the traditional role of the police. The Police need to be around so that the DSS can concentrate on their Intelligence gathering that helps in Policing. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:22pm On Nov 25, 2014 |
CFCfan:lols... So is it necessary for the Police Chief to come from a nonSecurity background? |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:23pm On Nov 25, 2014 |
barcanista:Then what will be the job of the federal police? |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:28pm On Nov 25, 2014 |
Obiagelli:Well you have a point here. I go with your suggestion 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:30pm On Nov 25, 2014 |
CFCfan:Wow this is a fantastic model, this should put to bed the fears of politicians using the police to intimidate opponents. I had the privilege of attending a councilman's hearing with the city police, you need to see how the police boss was shaking in his boots. I thought to myself when will Nigeria get to this level. I think we should open a thread to discuss state police models someday. This is what actually attracted me to the Buhari candidacy in 2011. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:31pm On Nov 25, 2014 |
BlackTechnology:I think i am done here |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:35pm On Nov 25, 2014 |
Billyonaire:Maybe we should start with the FG allowing states to mine their resources. I see no reason why Enugu shouldn't be selling and exporting coal. 2 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BlackTechnology: 8:35pm On Nov 25, 2014 |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:36pm On Nov 25, 2014 |
Obiagelli:The NIA would only have the liver to spy on fellow African countries . 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:39pm On Nov 25, 2014 |
barcanista:Yes, the Police Chiefs are usually serving or retired police officers, who are/were either street cops or detectives. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:43pm On Nov 25, 2014 |
BlackTechnology:I don't have time for irrational debate, will you like to compare your country with china? I bet you didn't know they produce oil |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:44pm On Nov 25, 2014 |
CFCfan:Lol |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:48pm On Nov 25, 2014 |
Obiagelli:Some legal scholars and others, over here, are actually against elections for judges. They are of the opinion that it makes judges pander to popular opinion instead of judicial rulings based on fact and law. I'm on the fence on the issue of elections for judges sha. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:50pm On Nov 25, 2014 |
CFCfan:Thats interesting |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Volksfuhrer(m): 8:51pm On Nov 25, 2014 |
Boss13: Did you say cbn was left with no choice? You think devaluation is a magic wand that solves this problem. Well now that you have devalued the naira, you think foreign investors including local ones would not want to hedge their funds by holding forex thus putting more pressure on the naira. Perception is key here. And how realistic is $78/b of oil bench mark for the 2015 budget. Investors know how risky the effects of such a policy could be on your reserves, and now they are bailing. The bench mark could drop to 50$/b for starters. Plug leakages in oil revenue and curtail looting. Why didn't they start with that? 4 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BlackTechnology: 8:53pm On Nov 25, 2014 |
Obiagelli: Its people like you who don't understand economics that come online to make shallow points. Algeria population is small compare to Nigeria. Algeria might be practicing resource control and fiscal federalism unlike Nigeria where some useless regions have refused to depend on their God given talents and resources. Don't come online and discuss economy without in depth thought on issues like this. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 8:56pm On Nov 25, 2014 |
Volksfuhrer: Where do you curtain this looting, in Abuja or your state capital/LGA? |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 8:58pm On Nov 25, 2014 |
BlackTechnology:I like the word might, i like how you ignored china. Btw why can't Enugu mine its own coal, why can't zamfara sell its mineral resources. Ask your pdp lead FG 3 Likes |
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