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Nairaland Forum / Nairaland / General / Politics / FG Responds To JP Morgan Delisting Of Nigeria From Bond Index (28595 Views)
FG Responds To Call For Petrol Price Increase / Delisting Of Nigeria - No Greek Gift From J.P. Morgan / Breaking!! See Effect Of JP MORGAN Delisting On Stock Market Today- LIVE!! (2) (3) (4)
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Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by 400billionman: 2:22pm On Sep 09, 2015 |
When Buhari and his CBN puppet governor were busy manipulating the naira, APC imps on nairaland were praising their baba for strenghtening the naira against dollar. Now Nigeria has to grapple with high cost of funds from foreign investors in bonds. A very big blow. 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by Image123(m): 2:24pm On Sep 09, 2015 |
LordVarys:For what exactly? What happened to NEC and FEC and the Federal ministry of finance? Did we die before 2012 that we were not listed with JP Morgan? 2 Likes |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by Image123(m): 2:26pm On Sep 09, 2015 |
400billionman:Which of the Nigeria is that? Is it the 3%rich Nigerians affected by useless data and meaningless textbook statistics? 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by baby124: 2:29pm On Sep 09, 2015 |
baralatie:Switzerland and Germany are doing ok. Nigerian banks like GTB can benefit a lot if the money is put in their care. At least let us use it to improve our financial sector. It's because we do not respect ourselves that everyone treats us anyhow. The financial market, especially as it regards government bonds is very artificial. So called first world countries, the amount of debt they have should have destroyed their ratings, currency and economy if held by other countries. But because they control the markets, they can mess with smaller countries. We need to get our priorities right and grow our own financial sector. If investors want to buy government Bonds, nothing wrong in them buying it from the Central bank or an African Index if the right tools are implemented. It does not have to be listed on a foreign bank. Once the country is ripe for investment and showing promise. Investors will go any where to buy the bonds. They need to close that account with JP Morgan. They cannot be making millions off our country's resources and then downgrading us. That's crazy. Destroying and profiting at the same time 2 Likes |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by mildflame: 2:30pm On Sep 09, 2015 |
hinwazaka: Maybe U can't but Nigeria can, can U really explain d Economic Module Nigeria operates. What kind of STATISTICS/DATAS do we u use? Are old r these Data n funny enough our inflation index is base on food prices. As for recession have we ever been out of it? JP Morgan Index can't stop d growth of our economy if we imbibe n strictly put POLICIES encouraging DOMESTIC CONSUMPTION n INDUSTRIES |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by 989900: 2:31pm On Sep 09, 2015 |
futureniyi: Well said. We need to go back to the drawing board and do right for ourselves, then investors naturally will fall in. We were running a cosmetic economy -- the reality is here. BTW, Bubu needs to assemble the best practical economic team this country has ever seen, from both within the country and outside. And he just needs to do this now -- not tomorrow. The reality is here, it can get much worse if we don't grab the bull by the horns now! The economy is not doing fine at all, and to get up fast, we need a stronger Naira -- we can't negotiate that. We need those sound economic critics to come on board and make sure this works. 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by 400billionman: 2:32pm On Sep 09, 2015 |
SenseiX: APC imps on Nairaland who are egghead economic experts said the World bank managing director was destroying our economy. Let us hear the latest from the new minister for false information Oshiomhole. Imagine Oshiomhole arguing with Okonjo on economic matters.. Chai, this life wicked 3 Likes |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by EINSTEINPG: 2:38pm On Sep 09, 2015 |
elohorayodele:Just how does this your post contribute to the discussion at hand? Do yourself a favour and contribute something meaningful instead of unwarranted sentiments. 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by 400billionman: 2:39pm On Sep 09, 2015 |
seunmsg: When you curse on an important discussion like this, it shows two things, you are either bigoted or cannot contribute intelligently. If JP Morgan goes to hell, what alternative are you offering. ? |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by baralatie(m): 2:42pm On Sep 09, 2015 |
baby124:let us go through this together! 1,j.p Morgan says it won't host Nigeria's $3 billion fund and wonts to delist 2,holders of of the fund will have to sell off 3,sister land is not going to buy because your RATING IS DIPPING 4,the best way is for FG to buy back its OWN BOND in order not to lose in the long run.that means $31b_$3=$28billion 5.the CBN will now sell in its own Nigerian stock market but in LOCAL NAIRA ($3×what the exchange rate might be) 5a,it automatically puts more pressure on your naira as this is a debt and the NAIRA WILL FLOOD 5b,this is assuming investors BUY THE BONDS. it has been an unavoidable reality. as long as the balance of trade of Nigeria favours the dollars either way,the naira will be devalued. 2 Likes 1 Share |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by 989900: 2:44pm On Sep 09, 2015 |
NOI is overrated. The Minister of Finance and Coordinating Minister of the Economy was asked a question by a ThisDay Newspaper reporter at an interview less than two years ago that “madam, why is it that the cost of funds is well over 20 per cent? And the Minister of Finance, this so-called exalted personality in the area of economics management said, “ In fact that has been bothering me, I don’t really know, it is something that I must discuss with the banks.” If she did not know after she had been there for a long time, is it the question by the reporter that has now prompted her interest, When she knows that no economy can thrive or succeed when cost of funds to the real sector is over 20 per cent? http://thenewsnigeria.com.ng/2015/05/okonjo-iweala-a-failure-henry-boyo/ |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by badesco(m): 2:49pm On Sep 09, 2015 |
Nigerians have not seen anything yet, more to come soon. Change is constant, so we should bear with APC change for now. To me Jp Morgan is right, considering what investors are loosing daily on Nigeria stock market.it runs into trillions. 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by hinwazaka: 2:51pm On Sep 09, 2015 |
mildflame:Module /noun/ a unit that can form part of a course of study, especially at a college or university in Britain In your rush to act like you know what you speak of, you mistook MODULE for MODEL. If you don't know by now, check my past posts, you are talking to a foremost graduate of ECONOMICS AND STATISTICS. You are asking questions about things that are not relevant in this discussion. Go and read up on Macroeconomics and monetary economics before attempting to act like you know what you are saying. Checking wikipedia doesn't make you knowledgeable. 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by baralatie(m): 2:52pm On Sep 09, 2015 |
989900:what you should be asking is should Nigeria be 1,an economy with a positive balance of trade or 2,an economy with a strong dollar reserve or 3,an economy with a strong import based facility |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by tsdarkside(m): 2:52pm On Sep 09, 2015 |
me,i can only laugh......economics is a rough game....and i hate it!!! nigeria should only care about nigeria.......screw the international community....buy only made in nigeria!!! 1 Like 1 Share |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by 989900: 2:54pm On Sep 09, 2015 |
baralatie: If it were that simple, the country wouldn't need a strong and honest economic team. |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by baby124: 2:55pm On Sep 09, 2015 |
baralatie:The fact of the matter is that this is a punitive measure for Nigeria's refusal to devalue the naira and to force the use of the dollar. I do agree that JP Morgan not wanting to honor the debt is for their own interest. However Nigeria can take steps to reduce the impact and this will take time. The first step is to find a country and bank which is willing to back the bonds, withdraw the country's money in the funny account that was opened with JP Morgan where Nigeria's money is being deposited. Use this money as some form of guarantee to the New Bank or country and then work like mad on our economy. Keep the No dollar rule and stop importation. Rather improve exportation and most especially regional cooperation amongst African countries. This is where the new African Development Bank president comes in. He must start an aggressive stance to improve the African markets and continent wife economic cooperation. Let our exchange markets also start seriously listing out bonds, stocks and other financial instruments. It is not a time for panic, but a time for solutions and growth. Especially in the Agriculture and Mineral sector and a strong drive, and campaign by all member countries of the African developmebt Bank to buy AFRICAN! 3 Likes 1 Share |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by mildflame: 2:56pm On Sep 09, 2015 |
ttmacoy: Do U understand d EXCLUSIVITY given CHINA n INDIA? Why is RUSSIA aint bothered about? Even in INDIA it is still being disscuss in a hush-hush tone. Nigeria only need 2build is Domestic Economy not trying 2please d WEST |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by mildflame: 2:59pm On Sep 09, 2015 |
hinwazaka: Personally U a graduate of INFINTE STUPIDITY must I brag about my MATHS/STATISTIC degree over this topic, its best U disappear into that BLACKHOLE u call Economics n Statistics NOTE; even lunatics don't quote Wikipedia |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by derecho(m): 3:03pm On Sep 09, 2015 |
Good observation,but did you notice when Nigeria was listed?Learn to appreciate people,She did her best. seunmsg: |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by ilenaira: 3:06pm On Sep 09, 2015 |
seunmsg: Thank you ojare. After getting to hell, they should take their listing, set it alight and shove it up their jacksie ontop. As if they've ever acted in our best interest. Vultures. 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by baralatie(m): 3:20pm On Sep 09, 2015 |
baby124:let us refresh together 1,FG internal or domestic debt is around $40-50 billion guess where the money came from. 2,Germany kicked Greece out because of blah,blah,blah 3,Ghana and some west Africans countries signed an ETA agreement which does not favour Nigeria own economy(even Ghana is being hit) let us talk SOLUTIONS 1,we are faced with that crazy IMPORT thirst what are we going to do about it. 1a,the cost of sourcing Dollars to buy REFINED PETROLEUM PRODUTS(reduce that one first),how?? 1b,either govt build more refineries to start WORKING IN LESS THAN A YEAR OR Private refineries ate being Built in LESS THAN A YEAR AND LEADING TO export of EXCESS PETROLEUM PRODUCTS 1c,Increase the USE of gas 2,cut down on the importation of agro based based food stuff 3,Fg should pay off 30% local debt content in LESS THAN a YEAR(very crucial) YOU SEE EHN THAT IS WHY PMB SHOULD HAVE AN ECONOMIC TEAM. OKNJO WAS COLLECTING SALARY OO AND YOU WANT ME TO SOLVE SIMPLE PROBLEM FOR UNA NAINJA LIKE AWOOF! 4 Likes 1 Share |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by Nobody: 3:24pm On Sep 09, 2015 |
Nigeria will survive this recession!
Need anything from Jumia?
Contact me now! |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by hinwazaka: 3:29pm On Sep 09, 2015 |
mildflame:A maths/ statistics student who does not know that there is a model for every sector. Who does not know that its the variables ( exogenous and endogenous) that determines the model you would use. I wonder what school you attended. You should ask for a refund. If you want to get a peripheral standard of knowledge of economics, pay into my account and I will school you 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by TheFreeOne: 3:30pm On Sep 09, 2015 |
But in its response to the decision by JP Morgan, the finance ministry, CBN and DMO said: “While we respect the right of JP Morgan to make this decision, we would like to strongly disagree with the premise and conclusions upon which the decision rests.” I support the bold but Buhari need to set up an economic team asap so as to address foreign investors concerns. |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by Nobody: 3:31pm On Sep 09, 2015 |
the best way to save for the rainy day is to cut cost. slash all salaries of politicians by half. oil is a blessing, it costed nothing to get the oil, so wateva d price for selling it shouldnt av any negative impact on our economy. |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by mildflame: 3:44pm On Sep 09, 2015 |
hinwazaka: A graduate of ECO/STAT that is HUFFING n PUFFING his ADULTERATED illiteracy Just say u a r STARVING n I will pay into ur DORMANT account so U won't die of HUNGER 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by baby124: 3:49pm On Sep 09, 2015 |
baralatie:When and how did we get these debts and what was the impact of these debt in the economy? None. I think the use of this debt should be investigated and all thieves summarily rounded up and dealt with. Same thing should happen to those who entered unfavorable agreements which are contrary to the interests of the country. Until we are serious about dealing with self sabotage, we will not progress as a country. Any one willing to economically destroy their country for whatever interest should face the firing squad. It is very disgusting. Where did this 40billion dollars go to. Who entered these agreements? What were the terms? How unfavorable were they? If there is proof that these agreements were glaringly unfavorable, then these facts should be revealed and agreements renegotiated if it is clear that the agreement was fraudulent with gains to any individual on signing. Nigeria should also pursue legal remedies in international courts, if any foreign company, individual or country was party to us signing ourselves into slavery. |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by ModiKen(m): 4:16pm On Sep 09, 2015 |
seunmsg: One cartoon of orijin for u my man !!! It is the bending and breaking of our a$$ to meet with the requirements of all these foreign financial institutions that has led Africa to where it is today. Vivid example, rules and conditions placed on African countries by the World Bank and IMF. We can't continue to fold our arms and watch the naira fall just cos we want to be on their list. To hell with them! Infact I think its time Africa has its own currency as suggested by the late Mummar Ghadafi. Just like the Euro is peculiar to the Euro zone in Europe and seeing how strong it is, our currency would even be stronger than the Euro cos of the vast resources we have and the endless investment opportunities in Africa. We should also how a central bank of Africa. These things have great potentials for the African continent. Europe and America have been holding African countries down for too long. It is time we break out of their strong hold. CBN ride one, the Nigerian masses are behind u. Keep protecting our naira!! 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by CSTR2: 4:19pm On Sep 09, 2015 |
googlepikin:You don't understand sarcasm, do you? |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by CSTR2: 4:20pm On Sep 09, 2015 |
seunmsg:J.P morgan doesn't just delist you because you earn less than you used to. There are more important indices they use. Infact, the reduction in oil prices has inflicted some level of damage on a lot of big economies. but then, none of these countries have been kicked out of J.P morgan. The trust in our economy is the issue here. Nobody trust this Nigerian govt to weather the storm. it has no serious economic expert in its cabinet, no identifiable economic policy to base any credible forcast on. Those are the issues. . 1 Like |
Re: FG Responds To JP Morgan Delisting Of Nigeria From Bond Index by ModiKen(m): 4:22pm On Sep 09, 2015 |
CSTR2: The only difference between us and the likes of Singapore and Malaysia is bad leadership. What notable resource do south east Asian countries have. You think if Naija was functioning as it should, we would have this thread on JP Morgan list. They would even be begging us to be on their list. Mr. Man, u are the zombie here cos u fail to see that the CBN is doing its best to protect our currency. Just cos we want to be on their list we should fold our arms and watch the naira become like the Zimbabwean dollar. Smh.... ![]() 1 Like |
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