mayoor15:
When will you grow pass 2015, this 2017 man, wise up

dallyemmy:
THIS IS WHY CBN MUST NOT LEAVE OUR ECONOMY IN THE HANDS OF FOREX SPECULATORS OR ELSE SOMETHING TERRIBLE AWAITS OUR ECONOMY!

seangy4konji:
you can see they really finished this country...they looted blindly during that previous years of goodluck...lets talk true...

i could not sleep since yesterday...

People dont fear God.

seguno2:


Thanks.
The above is the reason that Jonathan was better than Buhari and his predecessors.
He understood the importance of economic management and listened to technocrats while SYSTEMATICALLY addressing corruption.
Buhari is clueless on the economy and WORSE on corruption despite making useless noise without any court process leading to convictions.
Only those easily excited and incapable of thinking deeply will say that Buhari is fighting corruption.
A man who budgeted more money for the Aso Rock clinic than all Teaching hospitals combined. A sick old man who heads to London for treatment after banning government officials from doing the same is corruption exemplified.
Corruption cannot fight itself.

greatgod2012:
Until Nigeria adopt stiffer penalty like the one adopted in China to corrupt officials, looting and embezzlement will not seize to occur!


But, are the lawmakers who are suppose to make the law or pass the law into a bill themselves corrupt-free Are they also not looters Are they also not law-breakers?


Everything about Nigeria is so pathetic!

kahal29:
This was how our dollar reserve locally was depleted and unprecedented pressure was mounted on the naira...... They could no longer keep the dollar in bank because of BVN, hence bank no longer have access to all these looted hard currency.. It is becoming clearer by the day now the genesis of our current economic woes. Only God knows the number of people still keeping such hard currency in their apartment...God help Nigeria!!!

mayoor15:
Exactly, am damn sure that is not the whole money, they man must have sold thousands of those dollars, and some fools will still blame buhari for dollar scarcity and recession.

mayoor15:
It would have been better if the looting was done in naira not dollars, they knew our economy was dollar dependent and still looted in dollars.

4Play:


Thousands of dollars you say! Do you know that in 2014 - Nigeria received $50bn nonoil export forex inflows? $21bn was foreign investment, $10bn nonoil exports and $20bn remittances. In 2015, foreign investment fell to $9bn and $5bn in 2016. Nonoil exports fell to $4bn in 2015.

You have dollar scarcity in 2017, not simply because of the actions of the likes of Yakubu prior to May 2015, but because in addition to lower oil prices, your president has enacted policies that have reduced the incentives for businesses/investors to bring in dollars into Nigeria. You have lost tens of billions of dollars due to poor policies. The Naira was N220 to the dollar in May 2015 and N500 to the dollar today as a result of inept policies.

4Play:
I will disagree with you on the GEJ systematically addressing corruption part in so far as it implies he intended to reduce corruption. But I note your point that having wrong policies makes corruption more likely. The classic example os the multiple exchange rates arising from Buhari's insistence on a fixed rate. It has meant that the highly connected are able to buy dollars at N305 and sell it at N500.

mayoor15:
People like you are the reasons why this country is backward

mayoor15:
And was it buhari that made the policies alone, tell me how competent the CBN governor is? Who made the inept policies, guy forget your hatred for buhari and stop displaying your hypocritical analysis online, you blame the President while leaving the incompetent CBN governor, if he is removed now, people like you will shout tribalism, religion oppression etc. With all the policies your hero enacted, what sort of economy did he leave behind? And you say $50bn nonoil export forex inflows, can't laugh, how much was Nigeria total dollar reserve then self, bringing up incoherent fact and analysis just to cover for some people excesses, if that was true, Nigeria should have not entered recession in 2014. BTW, list the goods that earned us those nonoil export forex and let see...

cktheluckyman:

Buhari has mismanaged the economy.He better get his act right.BTW He is no way better than Yakubu.The same Buhari's presidency cleared a man who "spent"" N270M to clear grass in IDP camp,the same Buhari's administration allocated almost N300M for the construction of a gate house for the VP how exactly is he better than Yakubu

kingNovak:
the problem with Nigeria is Nigerians. We can never make laws against these thieves like Japan or China cuz some foolish and hopeless youths will support them. DSS arrested 'corrupt' judges, the whole world went loose with different criticisms. Now imagine the government sentencing David Mark or Shekarau or Akpabio to death?.. Plenty of the youths will take up arms in their defense. We live in a country where all these people will always go scot-free....cuz ethnicity and religion has over shadowed our reasoning.....

mayoor15:
And was it buhari that made the policies alone, tell me how competent the CBN governor is? Who made the inept policies, guy forget your hatred for buhari and stop displaying your hypocritical analysis online, you blame the President while leaving the incompetent CBN governor, if he is removed now, people like you will shout tribalism, religion oppression etc. With all the policies your hero enacted, what sort of economy did he leave behind? And you say $50bn nonoil export forex inflows, can't laugh, how much was Nigeria total dollar reserve then self, bringing up incoherent fact and analysis just to cover for some people excesses, if that was true, Nigeria should have not entered recession in 2014. BTW, list the goods that earned us those nonoil export forex and let see...

4Play:


You are a mo-ron. I condemned the appointment of Emefiele when it was first announced and have always called for us his sacking (you only have to go through my posts on Nairaland). That notwithstanding, the insistence on a fixed exchange rate is Buhari's explicitly stated position.

As for nonoil forex inflows, this is publicly available information provided by the current government which your benighted and poorly informed mind ought to acquaint itself with before opining on matters beyond your competence.

mayoor15:
Am a Christian but am ashamed of people like you that see things as religion and tribal persecution, what was he doing with such money in his house if he was really a Christian. The same man who stole dollar when it was 197 will sell it for 500 Now and you tell me it's persecution. May God expose people like him

seguno2:


You can do better by saying the basis for your comment so I can respond adequately.
Thanks

obembet:
Let do the mathematics

obembet:
Let do the mathematics

odiks:
Yes, Buhari’s Unsound and Confusing Economic Policy is one of the reasons why Nigeria is still in a recession, but the remote and immediate causes of the present economic quagmire are traceable to the doorsteps of our dangerously corrupt leaders who have heartlessly chosen to swim in needless wealth while they are surrounded and greeted by extreme poverty on a daily basis courtesy of the wealth they didn’t earn and do not deserve.

I believe it’s in a bid to desperately but meanly block the money laundering routes of the Nigerian political and economic saboteurs that the Present government through the CBN came up with what has continuously looked like a stone age kind of Forex Policies that have caused more harm than good to the economy, and to innocent men and women doing their legitimate businesses.

What on earth justifies that crazy amount of money found in cash in the house of the former NNPC MD, Mr. Andrew Yakubu?

If a man who occupied such a sensitive position not too long ago could hide cash of Dollars and Pounds worth about Five Billion Naira(#5B) in his house, one wonders how much he must have stolen and laundered through moles as well as kept in different bank accounts both at home and abroad.

These are men who are ready to stake any thing in making sure that government policies are frustrated so that they could freely loot, launder and enjoy their loots unhindered, at the expense of their fellow citizens.

A case like this is why we should not have corrupt judges on the bench, so that the likes of Yakubu would always be punished decisively so as to deter other mindless looters, unfortunately the judiciary has been so tainted that the looters are always confident of securing black market orders and injunctions which hinder the effectiveness of their trials, and most times prevent convictions.

If it were in a country like Japan or China, many of these enemies of the masses would either have committed suicide or been executed by now, may be we have to bring such meanness to bear in our system before we become a failed state.

Just a few years we had many powerful and influential politicians from our on you in the immediate past Federal government as Ministers, Federal Legislators, SGF and Chairmen of Boards and Parastatals, but look around their states,from the Ward to the State level you won’t see any tangible projects credited to any of them, not even to use their loots to build factories in their villages which of course the government can’t take away, especially when unemployed citizens are the beneficiaries of such projects, but the looters wouldn’t do it because they hate their people and would rather have them as perpetual slaves eternally loyal and willing to be their self serving tools, especially for sychophancy and ethnic induced anti corruption solidarity support in times of their trials and tribulations.

May God help us bring down the thousands of Yakubus senselessly destroying the destinies of the unborn generations, else more dangerous recessions might might be waiting for us not just in The Kitchen and The Other Room, but at the Parlour and in The Toilet.


http://www.abiafactsnews.com/sack-prof-ikonne-from-absu-before-he-turns-absu-to-abia-poly-group-calls/

4Play:
No. Poor economic policies cause far more damage to living standards than the actions of a thousand Yakubus.

From 2014 to 2015, nonoil export income fell from $10bn to $4bn. Foreign investment flows fell from $21bn in 2014 to $5bn in 2016, it was $9bn in 2015. All these happened because of inept policies designed to fix the exchange rate.

Pointing to allegations of recovered $9m pales in significance to the extent of damage caused by having the wrong policy framework. The corruption narrative has become a red herring, a distraction from the incompetence which has birthed multiple exchange rates. You do not justify the loss of tens of billions of dollars by pointing to stories about the theft of millions of dollars.