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Nairaland Forum / Nairaland / General / Politics / Buhari Angry With CBN Over New Policy (2501 Views)
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Buhari Angry With CBN Over New Policy by Israellb(m): 6:48am On Jun 28, 2016 |
President Muhammadu Buhari has said the current flexibility policy recently introduced by the Central Bank of Nigeria (CBN) is of no benefit to the economy, Vanguard reports. The CBN had introduced the flexible policy to enable market variables determine the value of the naira. The policy came as an economic and market strategy to systematically devalue the Naira, following its free fall recently. But according to Buhari, the new policy was yet to benefit the country. President Muhammadu Buhari has said the current flexibility policy recently introduced by the CBN is of no benefit to the economy. Speaking breaking his Ramadam fast with members of the Nigerian business community at the Presidential Villa, Abuja, last night, the President said: “I don’t like the returns I get from the CBN concerning the devaluation of the Naira. How much benefit have we derived from naira devaluation in the past? In August 1985, the Naira was N1.3 to a dollar but now you need N300 or N350 to a dollar. What do we derive from that? How much benefit can we derive from this ruthless devaluation of the Naira. “I’m not an economist neither a businessman, I fail to appreciate what the economic explanation is. What has happened to us now is that we have maneuvered ourselves into mono-economy which led to the collapse we are seeing now.” However, President Buhari placed the responsibility of creating jobs on the door steps of the business community. He noted that as part of plans to diversify the economy, 13 states have been identified that can produce rice that will feed the nation in 18 months. He agreed with the business community that Nigeria will be in trouble, describing as disappointing that Nigeria imported things like tomatoes, rice, wheat among others that can be produced in the country. Buhari had, in February in Egypt, said he was not in support of devaluation of the naira. He said Nigeria, which is not an exporting nation, would be worst hit if the naira was devalued. Also, in March, in Kenya, while addressing Nigerians in that country, Buhari said he won’t kill the naira.
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Re: Buhari Angry With CBN Over New Policy by IamSimi(m): 6:52am On Jun 28, 2016 |
Ok na |
Re: Buhari Angry With CBN Over New Policy by SeverusSnape(m): 6:53am On Jun 28, 2016 |
Bubu the Mumu is angry, Let's beg him. I see, He expects CBN staff to come and kneel before him like Zenith did for Fayose. Mtcheeww. 2 Likes |
Re: Buhari Angry With CBN Over New Policy by BlackPeni5: 6:57am On Jun 28, 2016 |
The mumulish President is looking for someone else to blame. God is using Buhari to punish us for our sins the way he let pharaoh deal with the isrealites. Give ur life to Christ today and save us from Buhari. 2 Likes |
Re: Buhari Angry With CBN Over New Policy by PehaKaso: 7:01am On Jun 28, 2016 |
OK |
Re: Buhari Angry With CBN Over New Policy by lovat(m): 7:04am On Jun 28, 2016 |
Mr Daft should keep quiet and allow those with intelligence to clean his mess. El Dullardeen should just sit down and watch because when it comes to economic matters he has a big O Lord we are sorry for giving an illiterate this job 1 Like |
Re: Buhari Angry With CBN Over New Policy by whitestar01(m): 7:07am On Jun 28, 2016 |
What then is he in support of? As if devaluation policy just sprang up. Cofusionist mtchew. 1 Like |
Re: Buhari Angry With CBN Over New Policy by 4Play(m): 7:09am On Jun 28, 2016 |
He should also tell us how the economy benefited from the fixed exchange rate. What he does not realise is that his comments increase the chances of currency depreciation as investors infer that further political intervention with the CBN is likely and desist from bringing in forex into Nigeria. 1 Like |
Re: Buhari Angry With CBN Over New Policy by tinkinjow: 7:10am On Jun 28, 2016 |
Did i hear that the responsibility of creating jobs is now with the business community? What has APC done to bring about the 3 million jobs a year? |
Re: Buhari Angry With CBN Over New Policy by Mylove55(f): 7:11am On Jun 28, 2016 |
God bless pmb for having d interest of nigeria first before personal interest. 1 Like |
Re: Buhari Angry With CBN Over New Policy by onatisi(m): 7:12am On Jun 28, 2016 |
The dongoyaro is angry with people who are trying hard to cover up his foolishness and inefficiency and yet he has no solution or alternative line of action in his brain. Naija go hear am dis remaining 3 years 1 Like |
Re: Buhari Angry With CBN Over New Policy by mamaafrik(m): 7:16am On Jun 28, 2016 |
Dem done say in one of the prophesies,"buhari'll bend to pressure on Naira devaluation",buhari suld consult prof.Pat utomi for an insight. |
Re: Buhari Angry With CBN Over New Policy by Mynd44: 7:16am On Jun 28, 2016 |
Re: Buhari Angry With CBN Over New Policy by MisterGrace: 7:18am On Jun 28, 2016 |
It seems he lacks patience. |
Re: Buhari Angry With CBN Over New Policy by OjukwuWarBird: 7:20am On Jun 28, 2016 |
This is the Messiah Yorubas clamoured for. ![]() God help Nigerians ![]() 1 Like |
Re: Buhari Angry With CBN Over New Policy by thaoriginator: 7:27am On Jun 28, 2016 |
Mynd44 and lalasticlala, so abusing the President and calling him mumu and dullard does not violate Nairaland rule No. 2 right? Ok, just negodu ![]() |
Re: Buhari Angry With CBN Over New Policy by able20(m): 7:39am On Jun 28, 2016 |
Make B Tinubu come see the Never Do Well of a Buhari he helped to be become president .He has zero idea about economics & Leadership has ambushed Democracy by not allowing experts to Function |
Re: Buhari Angry With CBN Over New Policy by 2sexycom(m): 7:45am On Jun 28, 2016 |
onatisi:bro, tell the OP to provide a link to the source at Vanguard. |
Re: Buhari Angry With CBN Over New Policy by onatisi(m): 7:51am On Jun 28, 2016 |
thaoriginator:is the president a member of nairaland and or did he make any comment on nairaland ? |
Re: Buhari Angry With CBN Over New Policy by Nobody: 7:59am On Jun 28, 2016 |
Nigeria will only have peace if this man resigns |
Re: Buhari Angry With CBN Over New Policy by Breadmaker: 7:59am On Jun 28, 2016 |
The same way you feel about the devaluation(no benefit) is the way we feel about your one year in office. |
Re: Buhari Angry With CBN Over New Policy by KingsCity: 8:00am On Jun 28, 2016 |
This is 21st century and we ought to have well educated people running the country The president thinks the policy is of no benefit to the country and yet he allowed it to be implemented it's a shame |
Re: Buhari Angry With CBN Over New Policy by thaoriginator: 8:37am On Jun 28, 2016 |
onatisi:that rule needs to be changed so all these nut-heads will get banned daily |
Re: Buhari Angry With CBN Over New Policy by onatisi(m): 8:43am On Jun 28, 2016 |
thaoriginator:Yes ,you are right but I think they wouldn't have been insulting the dullard president if he was up to task. You cant blame the cluelessness of the dullard on his critics,to be candid dullardihno follies is becoming unbearable 1 Like |
Re: Buhari Angry With CBN Over New Policy by Nobody: 8:58am On Jun 28, 2016 |
thaoriginator: hahaha... u want to gag opposition abi?? buh buhari isnot complaining now... so why is it paining you for him? |
Re: Buhari Angry With CBN Over New Policy by babajeje123(m): 9:16am On Jun 28, 2016 |
Can this man be impeached ![]() |
Re: Buhari Angry With CBN Over New Policy by thaoriginator: 9:23am On Jun 28, 2016 |
onatisi: ![]() |
Re: Buhari Angry With CBN Over New Policy by onatisi(m): 9:30am On Jun 28, 2016 |
thaoriginator:
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Re: Buhari Angry With CBN Over New Policy by Abeymills(m): 10:30am On Jun 28, 2016 |
It appears bubuhari is no longer in control anymore d big question is where were u when all dis terrible policy n destruction of our unity n progress is been imposed on nigerians? |
Re: Buhari Angry With CBN Over New Policy by onatisi(m): 1:46am On Jun 29, 2016 |
Abeymills:He has never been in control. 1 Like |
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