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Nairaland Forum / Nairaland / General / Politics / Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation (48203 Views)
Ex-CBN Staff Forfeits TEEDEK Polytechnic To Government [Photos] / Senate Summons CBN Governor Over Naira Depreciation / Ex-cbn Governor, Sanusi, Joins Blackstone (2) (3) (4)
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Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by 9japrof(m): 4:15pm On Feb 28, 2016 |
The same sanusi, the same ApC spy I government that began blowing whistle into an imagined money that was looted by the past administration. The truth is that when you make lie a priority, it comes back twofold to hit you in the face: Buhari, Osibanjo, Elrufai, Sanusi and the chairman of all lies, Liar Mohammed. Oh Naija we so gullible, we believe every bullshit our political elites throw to us |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by fairheven: 4:18pm On Feb 28, 2016 |
We had parallel market system even when Sanusi was in central bank, so why is he now preaching against it? 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by yaki84: 4:18pm On Feb 28, 2016 |
Orjioorji: I dey tell u, d man is now a certified liar. imagine saying foreign reserve was depleted to 25billion dollars? who dis man think say him dey talk to sef? sha na meeting of the zombies by the zombies formthe zombies. |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by coaco(m): 4:18pm On Feb 28, 2016 |
Which way Nigeria? |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by fairheven: 4:19pm On Feb 28, 2016 |
9japrof: This is a different SANUSI O,this one is Joseph Sanusi |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by shameseun: 4:24pm On Feb 28, 2016 |
Sanchase: [color=#000099][/color]Seems many Nigerians do not even understand the meaning of this devaluation, hence their objection on the idea. Please can you educate us on why you kicked bitterly against it. |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by yaki84: 4:24pm On Feb 28, 2016 |
blazetitov: diversify to wat nw? |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by chudyboy05(m): 4:25pm On Feb 28, 2016 |
igbokwesampson: igbokwesampson:This politic pastor should take his time and do what Sanusi said or else......... Up pipelines |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by homosapien(m): 4:25pm On Feb 28, 2016 |
pendusky: At times it better to be silent and learn from things beyond your understanding. Now, if you are the head of the economic team, what will you do? Let learn from the great professor of Economy. 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by grandstar(m): 4:26pm On Feb 28, 2016 |
kITATITA: There are many reasons why you devalue. As you can see, there has been a massive devaluation of the currency at the black market. Government is just living in denial and the dollar shortages is hampering I dustries. 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by blkmum700: 4:30pm On Feb 28, 2016 |
kITATITA: People shouting devaluation are bad economist,Nigeria is not an exporting country so why devalued the naira,I keep asking my self why is imf and western countries oppose to China yuan devaluation and want Nigeria to devalue naira. No to any fuc.k.ing devaluation. 5 Likes |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by watered(m): 4:30pm On Feb 28, 2016 |
Joseph Sanusi - Ex-CBN Governor! |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Nobody: 4:31pm On Feb 28, 2016 |
So if sanusi was still d CBN governor......this is d best he can offer?....i expected him to knw bera 2 Likes |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by erico2k2(m): 4:31pm On Feb 28, 2016 |
kITATITA:yes plenty, instead of staying on nairaland ask google, America,china,Uk Germany all did 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by kolexy(m): 4:33pm On Feb 28, 2016 |
pendusky: Constitutionally, the VP is the head of the economic team. What happened during Jonathan was an aberration. 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Nobody: 4:33pm On Feb 28, 2016 |
erico2k2:And they are all monolithic economies according to your Google |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by mikaael(m): 4:33pm On Feb 28, 2016 |
Sanchase: jus to correct ur impression...its nt d Emir Sanusi u knw of....this is a different sanusi...as u can read its Joseph Sanusi.. 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Nobody: 4:35pm On Feb 28, 2016 |
Clone2020: Well,back in the year 1973.....something happened. Oil prices shot up by 400%....thanks to OPEC raising the oil prices to ''deal'' with the Americans for backing Israel during the Yom Kippur War. (google for it). As a result, a lot of oil producers had money flowing in.....dollars. This meant that most oil producers had lots of dollars. For Nigeria....enough dollars meant a stronger Naira. That is why by 1978....N1=$1. (At the same time, America had a lot of economic problems,. and the dollar was not as strong as it used to be. Add the rising power of Japan...and you get the pic) By 1982,however, the oil price per barrel dropped. This led to a drop in forex holdings for many oil producers. For many of them it was a nightmare (The Soviet Union for example went into economic crisis which was one of the reasons why it collapsed by 1992.). For Nigeria....less dollars meant economic problems. And thanks to the massive corruption of the Second Republic....we did not have the forex to buffer the naira. By 1983....Shagari was already talking about austerity. When Buhari took over on Dec 31 1983 via coup.....the situation was serious. Buhari kept the problem at bay via certain economic measures....but inflation kept rising because we did not have enough forex to import . Buhari's answer was import substitution. Then Buhari was overthrown.....IBB came in, the oil price stayed low,our debt was rising....and SAP came around. Your dad had a good time in the early 1980's because of high oil prices. If you listened closely....he would have told you that from 1984....things got tougher. Nigeria was to remain in the economic doldrums until oil prices rose again by 2003..... 4 Likes |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Nobody: 4:35pm On Feb 28, 2016 |
devaluing the naira won't be the answer to our problem in the long run,what we need to a long lasting solution not temporary measures, past devaluation didn't change anything,it doesn't have to be about party and politics, let's think about the National interest for once, and the overall best decision for the country in the long term |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by blkmum700: 4:38pm On Feb 28, 2016 |
erico2k2: only China devalued their currency few years ago and you can see the opposition from western countries if you follow the news,China devalued yuan to gain trade advantage over others China is an exporting country and will gain more,Nigeria is fuc.king importing everything,won't work for us. |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by wxyz1: 4:39pm On Feb 28, 2016 |
I am not an economist, can the economist in the house explain the meaning of devaluation of the Naira in a simple terms please |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Nobody: 4:39pm On Feb 28, 2016 |
grandstar: We may have to devalue. Problem is....things might get worse....especially as we are not an exporting nation...ie...we do not export manufactured goods like Japan and South Korea...who can afford to devalue their currency to their benefit....because they can control the prices of what they export. Nigeria on the other hand exports oil mainly. We do not export cars, radios,PC,TV sets, etc. And the oil we export ...we do not control the price. Worse still....we import a lot of the raw materials for the local industry that we do have....meaning devaluation could make locally produced goods more expensive. For now...let's not devalue...and let's use our forex for vital things.I can survive on Nasco cornflakes....no need for Kellogg's . 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Clone2020(m): 4:40pm On Feb 28, 2016 |
adipemcanis1: Very well said. Your analysis paints a broader picture. Our reliance on oil has been a roller-coaster ride. 1 Like 1 Share |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Travejyke(m): 4:41pm On Feb 28, 2016 |
drss: Guy sometimes it's better for you to keep quiet. You must not comment always. |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by aminho(m): 4:41pm On Feb 28, 2016 |
Sanchase:did u even read the article |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by johnmartus(m): 4:42pm On Feb 28, 2016 |
i wonder when lamido sanusi name change to joseph sanusi |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by blkmum700: 4:42pm On Feb 28, 2016 |
adipemcanis1: You are right bro,if Japan or South Korean devalued their currency you will see strong opposition from Imf or US but they want us to devalued naira because its favor them more. 1 Like |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by greatcrown: 4:45pm On Feb 28, 2016 |
My only worry is how does this government intend to fund all these projects as mentioned by the VP? |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by CadetJayKay(m): 4:49pm On Feb 28, 2016 |
Sanchase:Dis is a different Sanusi,nt Sanusi Lamido Sanusi.Joseph Sanusi was CBN Gov during Obj's first regime.Pls take note,don't confuse urself cos u r talking abt two different people. |
Re: Osibanjo 'Clashes' With Ex-CBN Governor Sanusi Over Naira Devaluation by Reference(m): 4:50pm On Feb 28, 2016 |
kITATITA: Your President said he would not devalue so you have no problem. Just sit back and enjoy. That is 4 Central Bank Governors encounting who have warned, counseled. Enjoy. 1 Like |
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