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Nairaland Forum / Nairaland / General / Politics / Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China (27053 Views)
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Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by opalu: 3:40pm On Apr 17, 2016 |
Great |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Nobody: 3:40pm On Apr 17, 2016 |
banmee: I agree with u. Nigeria should try to be great now. We hv never be great at anytime in d past. 3 Likes |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Dapsin2901: 3:42pm On Apr 17, 2016 |
Nice right |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by 4nobody4every1: 3:43pm On Apr 17, 2016 |
Flashh: 2 Likes
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Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by bigtt76(f): 3:44pm On Apr 17, 2016 |
We're in on a long tin |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 3:44pm On Apr 17, 2016 |
Volksfuhrer: That is not what they are telling you. They see what you all don't want to acknowledge. The mentality of Nigerians cannot make it work because of corruption. It does not matter what great policies you put in place, corruption will destroy it. Just because western economies do it and it works for them, does not mean it will work for Nigeria. For example. The western world has refineries. So does Nigeria. Do the ones in Nigeria function? Nigeria has roads. So does the western world. Are the roads in Nigeria pliable? The western world has power generating means. So does Nigeria. When last did you have 24hr uninterrupted power supply? Nigerians have good ideas but lack the knowledge, will, or virtue to make anything worthwhile work. Corruption is the bane of the country. 7 Likes |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by theV0ice: 3:44pm On Apr 17, 2016 |
modath: Can you imagine? 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Pidggin(f): 3:48pm On Apr 17, 2016 |
Yippee!!! We get to import more and more Chinese fake products into our country, and what will they do with the swapped Naira? Buy Nigerian products? Do you buy Nigerian products yourselves? what do we export into the Chinese market and what is the volume of our export compared to what we import from them? Never take the Chinese for fools, they are swapping with our dollars not Naira, please stop spreading false information to gullible Nigerians 5 Likes 1 Share |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Chukzyfcb(m): 3:55pm On Apr 17, 2016 |
Pidggin:Very true, links are littered online that says a portiion of our dollar reserve is converted to yuan. I dnt think naira is the currency converted. 2 Likes |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by musicwriter(m): 3:55pm On Apr 17, 2016 |
There's absolutely no reason we should have the double problem of official Yuan price and paralleled Yuan price; like the dollar. Otherwise, we would be back to square-one as predicted by Governor Fayose. Any Nigerian who want to import from China should be able to simply go to his/her bank, fill a fund transfer form, and have money transferred to China. It should be as simple as that!!. Of course, unless the Nigerian factor CORRUPTION kicks in. And if that happens I'll lose hope on the Buhari administration and his ability to navigate Nigeria out of this economic crisis. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by dokunbam(m): 3:55pm On Apr 17, 2016 |
laurel03: |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Deen77: 3:56pm On Apr 17, 2016 |
banmee: Excellent, yes corruption but no nation is totally free, it can be reduce. That why they rate corruption country by country. Gradually we can reduce ours too. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by prinsam30: 3:57pm On Apr 17, 2016 |
still on this China naija issue? make una let the matter rest like dat na meanwhile That moderator wey banned me, the thunder wey go correct ur name still dey search for the missing chibok girls. I have been insulted on this forum several times, they called me zombie, one of the moderators even joined in the insult but I won't mention names, and I'm still seeing those "Innocent Until proven guilty" posting topics and making comments. No wahala. All I know be say "No b everybody wey pass through school Na im school pass through am" Some overgrown pass their age thereby making them reasoning through their Ânus. Just speaking my mind, because this is the best way to fight corruption, it starts with me and you, and if this shít of mine pain anybody, I'm sorry, No apologies, you can ban me again Babe. The love I have for you it's like copied assignment I just can't explain it |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Flets: 3:58pm On Apr 17, 2016 |
Why do Nigerians refuse to reason beyond their noses? In a case of currency swap (lets say 1bn yuan swaps for 30bn naira), what would china be doing with the naira? What Nigerian export would they be paying for using the naira? Obviously china would not be swapping for a naira at a rate less than global exchange rate..... rather it would be at a higher exchange rate. What is Buhari's fall back plan at tackling what is coming his way from the west? The power play behind petro-dollar is beyond demand and supply.... no developing nation has survived it. What is Buhari's plan in terms of diplomacy? Screaming anti-west rants on NL can't save Nigeria if the west is really against this move. 2 Likes 1 Share |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by KingsleyTMTTM(m): 3:58pm On Apr 17, 2016 |
let's see how this goes... |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Electroweb(m): 3:59pm On Apr 17, 2016 |
ecotwins: Nice write-up @ OP. But why is the dollar still trading high in the parallel market. One would expect that as demand decreases, prize will fall. Can you answer this? |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Pidggin(f): 4:02pm On Apr 17, 2016 |
Chukzyfcb: This is how they spread false information all over social media. What is so painful is that Nigerians are so gullible, most people never ask questions talk less of carry out their own research. Why will China swap their currency with an unstable Naira which will soon be devalued? Besides what is the volume of our export to China that will make them swap Yuan for it. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Volksfuhrer(m): 4:02pm On Apr 17, 2016 |
banmee: So because there's corruption in the land we should not try to help ourselves. In fact, your post is a non sequitur. When we toed the line of the West in days of yore, wasn't there corruption in our land? I'm afraid your argument is neither here nor there. And one more thing, we have the "knowledge, will and virtues to make things worthwhile". 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by shehuolayinka(m): 4:02pm On Apr 17, 2016 |
Nice op. Nigeria can only stand up and defend this, if the Buhari government can furnish us with more information about the deal. Anybody or country still siding and taking the West and America serious; is sitting on a long thing. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 4:04pm On Apr 17, 2016 |
Deen77: Very correct. All Nations has some form of corruption/lawlessness in it's society. The important thing is how is it tackled? How is it seen by the general public? In Nigeria it is seen as a way of life. Most likely, If you own a car in Nigeria, you are corrupt. That is how bad it is in Nigeria. There is no sign of it being reduced in Nigeria. In normal societies, you will think long and hard before you do anything illegal because someone is always watching. In Nigeria, it is as reflective as breathing. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 4:09pm On Apr 17, 2016 |
Volksfuhrer: I am not saying that Nigeria, and by extension Nigerians, should not help themselves, but you need to prioritize yourselves. Just because you are thirsty does not mean you should use a basket to fetch water. First, get a proper means of acquiring the water you need, then fetch the water. Not doing that is a waste of time and resources. There are things Nigerians need to learn to do before making bold alliances and decisions. Nigerians cannot maintain a university hostel's toilet, and they want to maintain a humongous trade/currency partnership with china. Ok. Good luck with that. 2 Likes |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by edjeodiri(m): 4:11pm On Apr 17, 2016 |
Let's hope for the best in all these.....come to think of it, "Buhari xi....President eleven jinping" is quiet hillarious. I belive PMB won't be stupid enough to enter into an agreement that will be detrimental to the Nigerian traders with the Chinese government. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by forap(m): 4:14pm On Apr 17, 2016 |
China can buy our crude oil with the naira 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Adesiji77: 4:14pm On Apr 17, 2016 |
Hmm...I was just about to read this article when i noticed it on FP. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by naijareferee: 4:16pm On Apr 17, 2016 |
theV0ice: so china products are golden now because buhari has cut some slack deals from them. Yet u people diminish innosons vehicle calling them chinese just because he does not speak your tongue. Hypocricy and double speaking will move us no wher. We got a loan in yuan and paying back in dollars....u call that a deal. Currency swap...who does the writer think he can decieve...what will china do with the naira swap they will recieve...buy oil...na na the same shit we signed with russia for ajeokuta steel which ensured russian coals are used perpetually thereby condemin nigeria coal is about to repeat itself in different form. I understand the excitement...baba has been round the world with no deals... So i guess to u this chinese deal is better than no deal for almost a year now. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Volksfuhrer(m): 4:38pm On Apr 17, 2016 |
banmee: I understand your concern, but I'm tired of the shenanigans of the West! The fact that our government came up with this bold step has given me renewed hope, that someone somewhere is thinking outside the box. And get one thing very clear: the West has always been the enemy (albeit a veiled one), they even have their agents within our ranks! We've put up with their condescending postures and subtle threats for much too long, it's time we put our faith elsewhere. We are not declaring war on the west, but we should be free enough to choose our allies. Kindest regards. 1 Like 1 Share |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Nobody: 4:39pm On Apr 17, 2016 |
Pidggin:do u kw foxcon, largest manufacturer of apple product, is in China. the Chinese manufacture good quality product, it is Nigerian importers that orders for inferior goods. currently we don't have the infrastructure to start manufacturing. wen u talk of Nigeria product I begin to imagine wat u talking abt. most of Nigeria product are just assembled product. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 4:51pm On Apr 17, 2016 |
Volksfuhrer: Which Is why I said Nigerians need to get their act right before doing anything else. Every nation is selfish. That is how the game is played. Nigerians should know this by now. If China had nothing to gain from this alliance they wouldn't be doing it. They definitely have more to gain than we do. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by walexy14(m): 4:52pm On Apr 17, 2016 |
More questions than Answers |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by 989900: 4:59pm On Apr 17, 2016 |
The article clearly articulates what we all think it is, or should be. However, like I stated in another thread, it is a developing story, and as with developing stories, you have to wait for more facts before drawing 'firm' inferences. The vibes feels good though already. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Folksyharry(m): 4:59pm On Apr 17, 2016 |
This deal is definitely going to benefit us especially now that our dollar reserve is low. It's a very shrewd move by the FG. I hope they won't forget to diversify the economy along the way. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Pidggin(f): 5:01pm On Apr 17, 2016 |
charliboy654: Yeah, so why would any one believe that China would swap their Yuan for Naira? SMH |
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