Check Out This beautiful photo of linda ikeji and sister in Paris


linda ikeji shared a beautiful photo of herself and her sisters, in Paris for the first time on instagram.beautiful linda ,God bless you dear sister.>>>more photo http://www.mouaue.com/2015/06/check-out-this-beautiful-photo-of-linda.html

Hmmm...gud

Ok

umarc19:
We are doing it.

1 Naira = 1 Dollar here we come

Baba, you go[b] cum[/b] tire if you look outta that box.

Still a long way to 1 naira. But, we're optimistic.

Cool I posted the topic few minutes ago.

Omooba77:

Well understood;we should allow supply and demand controlled economy not regulated

Exactly my argument. For long time we have been packaging our economy and we haven't felt any positive impact. Some people will be celebrating on reading the original article without understanding that it is cosmetic.

" . . . going forward, the Central Bank of Nigeria (CBN) should be more responsible in the management of the monetary policy. For instance, the CBN’s harebrained policy of monetising the monthly, statutory foreign exchange allocations due to the various tiers of government, distorts our macroeconomy on so many levels.

It creates excess liquidity by flooding the money market in one fell swoop with a surfeit of Nigerian Naira that now turns around to shop, sometimes inordinately, for foreign exchange, goods and services, etc, thereby worsening the exchange rate and inflation rate at the same time.

It also creates the bizarre situation of so-called ballooning “foreign exchange reserves” of the Nigerian Federation whereas what we are actually referring to is the foreign exchange holdings of the Central Bank of Nigeria, i.e. the countervalue of the cumulative Naira transfers to the various federating units over time.

Hence the absurdity of Federal Government continuing to borrow, even in the face of so-called robust “foreign exhange reserves” in the sum of tens of billions of dollars.

A more realistic approach of monetising foreign exchange allocations to the federating entities would probably be to disburse foreign exchange vouchers to the respective beneficiaries which could be redeemed for Naira as and when needed.

Futhermore, the above referred modus would, over time, ensure that both the interest rate and inflation rate fall to the desired single digit. This singular reform would go a long way to revert the economy to equilibrium."

1. Do the above.
2. Get the refineries working so we stop importing refined products, rather, exporting refined products.
3. Review importation of food, and some other silly items.
4. Improve power supply.
5. Encourage exports (all).
6. Work on security.
7. Attack corruption and stealing of public funds.
8. Checkmate currency racketeering from the FG, CBN, banks, NNPC, BDCs, to independent racketeers.

Do 90% of those, and watch the Naira trade at N85-N125/$1 within 3-6 months.

And zenith charged 217 as of yesterday

barcanista:
That's why I mentioned that we need to work on our economy and face the "temporal" hard times that we will face by allowing the naira to float. The system of revaluation is mitigating our economic growth. Why can't our fiscal and monetary policies be centered on growth in productivity and economic stability? Why do we always like "the cheap" way out that has no long term benefit? Thank God that we have steady political system. We just need to take the bull by the horn

Here i agree with you. Taking the bull by the Horn.

However its sad that we know our problems and solutions to it, but we never tackle them or are not ready too.

Nice one bro.

Omooba77:
Nigeria’s central bank adjusted its exchange rate peg to N196.95 to the dollar from the 197 it set in February after the currency’s value was eroded by the fall in oil prices, data on its website showed yesterday. The bank adjusted the rate at which it sold hard currency this week, dealers said, noting that the change was too small to be considered a revaluation for the naira, particularly in the face of dwindling foreign reserves.
Dealers said the central bank had been selling dollars to the inter-bank market at its adjusted rate. The naira was trading at 198.95 to the dollar on the inter-bank market and between 215 to 218 in the parallel market.
“By lowering the central bank rate offered to banks albeit very moderately, the central bank is adding to pressures on FX reserves … equivalent to around 4.9 months of imports,” Angus Downie, head of research at Ecobank said.
Nigeria’s foreign reserves fell to $29.4 billion by June 2, down 20.1 percent from a year ago as the central bank burns cash to defend the local currency. The bank merged its bi-weekly currency auctions market with the interbank market in February and fixed the exchange rate, a move that amounted to a de facto devaluation of the currency of Africa’s biggest economy.
The regulator had also banned commercial lenders from re-selling central bank dollars among themselves, which was an attempt to curb speculation on the naira. The naira Non-Deliverable Forwards – currency derivatives traded offshore – pointed to the local currency being priced at 221-225 to the greenback in six month’s time.
“Small changes in the rate could possibly allow the central bank to gauge the changes in demand and supply dynamics which would inform decisions on when and how best to start lifting forex restrictions,” Cobus de Hart of South Africa’s NKC Independent Economists aid.
- See more at: http://www.vanguardngr.com/2015/06/cbn-adjusts-forex-rate-to-n196-95-per-dollar/#sthash.v6SCMMof.dpuf

see come what is this .......how will it change our economy how many of us are dealing with dollars okay I get fir easy transporting of dollars to other countries abi. ...?

umarc19:


For once be optimistic in your life bro

Kkk

why are riff raffs selling currency in the streets , what are the banks for.
Nigeria is the only country in the world where you get mint currency in the streets instead of the banks.
old currency is distributed by banks while mint is distributed by riff raffs.

Imagine if you want mint notes you have to go to the streets and pay extra for them instead of the banks.hmm

cbn should stop wasting its time pegging exchange rates the fact is as long as our net imports is greater than our exports the our foreign reserves will continue to deplete,its time we started producing real stuff and exporting to other countries.
Our manufacturers should be encouraged to produce, govt should stop rewarding importers with duty waivers and all that crap, thats what depletes our foreign reserves cos we have to pay the dollar equivalents of our imports.

This is not good news.

makzeze:
The good things with coming of Baba Buhari is begining to manifest now.

what good thing? these are just paper works and lip service... I was at the bank yesterday for an international transfer and the bank was going to charge me two hundred and nineteen naira (#219) to one dollar($1) .
rubbish... they're just deceiving the less informed and gullible Nigerians
mtcheeew

Just a 5 kobo difference!

989900:
" . . . going forward, the Central Bank of Nigeria (CBN) should be more responsible in the management of the monetary policy. For instance, the CBN’s harebrained policy of monetising the monthly, statutory foreign exchange allocations due to the various tiers of government, distorts our macroeconomy on so many levels.

It creates excess liquidity by flooding the money market in one fell swoop with a surfeit of Nigerian Naira that now turns around to shop, sometimes inordinately, for foreign exchange, goods and services, etc, thereby worsening the exchange rate and inflation rate at the same time.

It also creates the bizarre situation of so-called ballooning “foreign exchange reserves” of the Nigerian Federation whereas what we are actually referring to is the foreign exchange holdings of the Central Bank of Nigeria, i.e. the countervalue of the cumulative Naira transfers to the various federating units over time.

Hence the absurdity of Federal Government continuing to borrow, even in the face of so-called robust “foreign exhange reserves” in the sum of tens of billions of dollars.

A more realistic approach of monetising foreign exchange allocations to the federating entities would probably be to disburse foreign exchange vouchers to the respective beneficiaries which could be redeemed for Naira as and when needed.

Futhermore, the above referred modus would, over time, ensure that both the interest rate and inflation rate fall to the desired single digit. This singular reform would go a long way to revert the economy to equilibrium."

1. Do the above.
2. Get the refineries working so we stop importing refined products, rather, exporting refined products.
3. Review importation of food, and some other silly items.
4. Improve power supply.
5. Encourage exports (all).
6. Work on security.
7. Attack corruption and stealing of public funds.
8. Checkmate currency racketeering from the FG, CBN, banks, NNPC, BDCs, to independent racketeers.

Do 90% of those, and watch the Naira trade at N85-N125/$1 within 3-6 months.

You cannot do an abracadabra in Nigeria to bring the Naira on a par with the US Dollar, and it seems you know little or nothing about how internally generated economic activities could transform the aspirations of Nigerians, by reducing our dependence on imported goods, which many Nigerians are finding very difficult to afford.

This dependence is creating a balance of payment issue for Nigeria and is depleting our Foreign Reserve, and mostly in favor of our trading partners. This runaway depletion of our reserves in relation to our dependence on imported goods is what is weakening the naira. No policy decision by any government can offset this, especially when our industrial base is weak, and as our current economic activity does indicate that Nigerians are running around like a dog chasing its tail.

Our frustrated manpower are leaving the country in droves (brain drain) and are drowning on the high seas as they make the journey to Europe in search of greener pastures in hostile environments where they are not wanted, and are often murdered by the host countries where they end up, and our government could careless what happens to these men, women and children because as a nation, we may not even know if they ever existed.......statistically speaking.!

Somebody needs to break this down for the President.

I guess this is the 1$ to 1N promised? muahuahuah... I laugh like Chihuahua!

Ymodulus:

On oil price, i think that can be handled in a quick space of time and fast enough. But on the importation of raw materials or finished goods, we still have a long way to go in doing that. I feel that we can raise the value of the Naira even with we been an import-dependent country. Take a look at United King don, Dubai and even Kuwait. what are these country producing? Nothing. But what is the value of their currency?

1 Great Britain Pounds equals N308,
1 Kuwaiti Dinar equals N657.94 Nigerian Naira.

While from the above listed countries, you might say Kuwait is an oil producing country, i will agree. But what excuse do we have when it comes to Great Britain?

Bros, Kuwait and Britain may not be producing for export but they aren't "Import"-Dependent countries.

They produce to satisfy local consumption, they don't need to wait to get everything imported. The production sector is strong and they pursue real policies. We don't need to surpass the dollar, all we need is REAL growth for the Naira.

1naira per dollar - loading

Ymodulus:

Here i agree with you. Taking the bull by the Horn.

However its sad that we know our problems and solutions to it, but we never tackle them or are not ready too.

Nice one bro.

Thank you! I am always ready to support any policy that has long term benefit. We all know our problems like you rightly say...I hope the new economic team do the needful

An academic exercise in futility.

barcanista:
Thank you! I am always ready to support any policy that has long term benefit. We all know our problems like you rightly say...I hope the new economic team do the needful

Barca!!!! lol. You funny. Ok the new economic team will do something

I wish i was really smart,i would have contributed to tbis thread

You cannot do an abracadabra in Nigeria to bring the Naira on a par with the US Dollar, and it seems you know little or nothing about how internally generated economic activities could transform the aspirations of Nigerians, by reducing our dependence on imported goods, which many Nigerians are finding very difficult to afford.

What is your definition of "on a par"?

This dependence is creating a balance of payment issue for Nigeria and is depleting our Foreign Reserve, and mostly in favor of our trading partners. This runaway depletion of our reserves in relation to our dependence on imported goods is what is weakening the naira. No policy decision by any government can offset this, especially when our industrial base is weak, and as our current economic activity does indicate that Nigerians are running around like a dog chasing its tail.

Obviously, you did not read/read but can't comprehend what I wrote . . . if you don't understand something, you ask, in lieu of sticking with your 'pre-thoughts'. Now go and read it again (to understand), or ask for assistance.

Our frustrated manpower are leaving the country in droves (brain drain) and are drowning on the high seas as they make the journey to Europe in search of greener pastures in hostile environments where they are not wanted, and are often murdered by the host countries where they end up, and our government could careless what happens to these men, women and children because as a nation, we may not even know if they ever existed.......statistically speaking.!

Really?

Ymodulus:

Is your problem to see the naira at par with the dollar? If yes it can be done quickly through revaluation. The government can mint a new naira notes and tell every Nigerian to change to the new notes within a three months window. For anyone to get N1.00 of the new note, you have to bring N200.00 of the old note. At the end of the exercise, N1.00 will be equal to about $1.11.

Please we discussing the economy here and not politics. Take a look and see this is business section not politics section.

All i see you doing here is trying to show that the failed policies of the PDP for the last 16yrs is worth the effort they put into it. Because i see you are very afraid that these new ideas of APC and President Buhari will rubbish the PDP and ensure that Nigerians never votes for them ever again. So you just jump into senseless argument and a frenzy each time you see the deft moves of the any institution in the new Government

That simple? What happens to our bank accounts? All account balances gets adjusted?

naijamark:

That simple? What happens to our bank accounts? All account balances gets adjusted?

Yes!

It will then mean we are all adjusted to use the new rate and cash values

mouaue:
Check Out This beautiful photo of linda ikeji and sister in Paris


linda ikeji shared a beautiful photo of herself and her sisters, in Paris for the first time on instagram.beautiful linda ,God bless you dear sister.>>>more photo http://www.mouaue.com/2015/06/check-out-this-beautiful-photo-of-linda.html

What are those? You're all equally stupid!

Ymodulus:

Yes!

It will then mean we are all adjusted to use the new rate and cash values

That makes no difference in the long run.

[quote author=barcanista post=34457192]That's why I mentioned that we need to work on our economy and face the "temporal" hard times that we will face by allowing the naira to float. The system of revaluation is mitigating our economic growth. Why can't our fiscal and monetary policies be centered on growth in productivity and economic stability? Why do we always like "the cheap" way out that has no long term benefit? Thank God that we have steady political system. We just need to take the bull by the horn[/quote

Maybe u need to ask CHINA why they have consistently tightend their monitary policy that has seen the Yuan exchanging to the Dollar at 6.2 Yuan to the Dollar, despite there strong economy proped up by a strong manufacturing base yet they disallow their currency to oscilliate and vassilate to the vagrances of market forces.
Despite the hue and cry of the west China does what it deems best in the intreast of its economy, thats what Nigeria should do instead of following failed economic models of World bank, IMF and the likes.

I wish PMB can impliment the redinomination template of the east while CBN Governor charles Soludo that will eventually see the dollar exchanging $1 to N1.


I represent radical change.

goodtalk:

This is where most of you fail. China is export dependent country. A very strong Yuan will discourage exporters from trading with them. They don't need their Yuan to be too strong so as to attract buyers of their products. Why do you think Chinnese products are well patronised and relatively cheaper in the market? Don you know that this same policy have negative effect because it encourages cheap labour in China as much as it encourage enterpreneurship?

Nigeria is an import dependent country. We need a very strong naira otherwise we will get to a point where our naira will be glorified paper. We don't want the Zimbabwe situation. We must fix our economy and allow for real value of the naira.