there is a thin line between optimism and accepting mediocrity

0b10010011:



And hasn't the government done that? I the $ not falling as at date? Explain the joke u were talking about.

I don't owe you any explanation. Now run along, and have a great day

doctokwus:
After trial and error,u still ascribe anything to Emefiele than failure? This writer is deluded.
Put a primary school pupil in that post and with same trial and error he wudnt do worse than Emefiele.
In saner climes after seeing thru this worst kind of recession with countless monetary failure missteps,d CBN gov wud av resigned.But here somebody is celebrating a man that changes monetary and financial policies on a weekly basis.

Very long, void and crude criticism. Since u said a primary school student can steer our economy on course, can u briefly explain what "YOU" would have done to bail Nigeria out?


Glaring you lack indepth knowledge but won't conclude until you answer my question.

odiks:
By Dele Sobowale

The naira rises by N12 to N385/$.

Babajide Komolafe, VANGUARD, April 20, 2017, p 5.

THOMAS Hardy, 1840-1928, great British writer, once said that “a pessimist is the person who looks at the worst possible contingencies.” (VANGUARD BOOK OF QUOTATIONS, VBQ, p 186).

No Federal Government official has been plagued by more pessimists in the last two years, but especially since January this year, than Mr Emefiele, the Governor of Central Bank of Nigeria.

No current Minister handling any portfolio has had the dubious privilege of having his two predecessors in office mount such a blistering attack on his policies as Professor Charles Soludo and Emir Sanusi had done on the poor current holder of the national purse.

They were not alone. Experts including the “usual suspects” – Bismark Rewane and our own Henry Boyo, as well as some unknown critics gave the impression that the man did not know the first thing about banking. From some of the criticisms leveled against him, the CBN Governor is either a bumbling fool, or a saboteur or both.

The “Group of Seven”, tagged that just to save the trouble of naming them one by one, had an Advertorial published in VANGUARD on February 27, 2017, titled AN OPEN LETTER TO CENTRAL BANK GOVERNOR GODWIN EMEFIELE REQUESTING FOR HIS RESIGNATION represents the position of most pessimists and those who would want Emefiele to accept their policies or resign or get sacked. Never mind the impudence involved in people who were not involved in appointing an employee and whose opinion was never sought and never will be, requesting for his resignation. This is Nigeria where bad manners know no limits. They wanted the CBN Governor to go unless he agreed to allow the market to determine exchange rates.

Before them, His Royal Highness, Sanusi, sounding increasingly like a candidate for office in 2019, had made the point that the exchange rate which was then on an upward climbing escalator would never come down as long as the CBN maintained three or four exchange rates. There were other reasons why people wanted the man to go.

The majority of commentators followed the direction of the critics and the exchange rates went from N400 to N450 to N500 and then peaked at N520 per dollar. But, some of us were not convinced that they got it right. My own instincts always tell me that “When all think alike; none thinks very much.” (Walter Lippmann, 1889-1974, VBQ p 245). It was for the same reason that the Fake News about a RANGE ROVER costing N370m or N298m, depending on whose falsehood you chose to believe, imported for the Senate President, Bukola Saraki never made sense to me. For weeks, nothing else was discussed in Nigeria. Erudite individuals, respected columnists, the usual Senior Advocates of Nigeria, SANs, radio show participants etc blasted the Senate and Saraki.

But, there was no N370m or N298m RANGE ROVER. The vehicle in question was imported in 2015, not 2017, at $298,000 with N150/US1 and the Customs kept quiet until 2017 out of deliberate mischief. Today, the story is all forgotten. So, there was a need to step back and do some independent thinking.

In a rejoinder to the advertorial by the Group of Seven and others, the following observation was made. Starting by pointing out that Nigeria’s rising exchange rate was caused almost exclusively by scarcity of dollars, and that Nigeria had the lowest Sovereign Wealth Fund, SWF, balance of all major oil producers, it was predicted that without leaving the exchange rate solely to the market, the CBN can bring down the escalating exchange rate by pumping in more dollars. That was in February. Please read on.

One “Know-Nothing” Governor of a South West State for political reasons even announced that the exchange rate would go as high as N1000/US1. Well, what can one expect of an HND holder? Less than $1 billion has so far been released to the market and rates have tumbled to $385/US1. If Emefiele has up to $2 billion to shovel into the market, mass suicide will follow among currency speculators. The rich also commit suicide; especially those who have over-exposed themselves financially.

Meanwhile, the downward trend occurred despite the multiple exchange rates and refusal of the CBN to surrender its judgment to the “market”. In short, CBN rejected the advice of the “experts” and still won the contest of wills. One question most people must be asking is: why was the reversal so sudden? Part of the answer is making the front page news these days.

Most of the naira chasing dollars were from illicit sources – cash stored in houses, graveyards, backyards and false wall panels. The discovery of some funds must have prompted some people to want to change naira to dollars at any rate because green backs are more compact and easier to conceal.

The principles of supply and demand break down when desperate people are prepared to buy a commodity – including dollars – at any rate. That is not how reasonable people behave. Yet, the market is meant for reasonable people.

That is the secret of Emefiele’s success and the pessimists are annoyed. Too bad isn’t it?


http://www.vanguardngr.com/2017/04/cbn-winning-pessimists-still-complain/

FAYOSE! FAYOSE!! FAYOSE OOOOOO!!! you see your life? A commoner comparing your intellectual property with your certificate is too bad for the office you're holding.

solidman59:


I don't owe you any explanation. Now run along, and have a great day

I know empty people by there expressions. It's a talent have groomed over time.

zainabxel:


Giving F**ks For Free?

you wanna try me? Then get your game face on if you know you can handle it.

Djbond:
you wanna try me? Then get your game face on if you know you can handle it.

Na joke i dey oo
But i love a challenge so the question is can you?

0b10010011:



I know empty people by there expressions. It's a talent have groomed over time.

Lol, nairalanders and unnecessary cursing and hating. I will not make your day by returning your insult.

Rather I will like you to know that I am entitled to my opinion as much as you are. And once we can respect other people's views about issues, our country will move forward.

I just aired my view on this issue, you don't know me from anywhere and you are already hating and cursing. If we were arguing face to face, you'd probably stab me with a knife, simply cuz I hold a different view?

So much for unity. We're nowhere

zainabxel:

Na joke i dey oo
But i love a challenge so the question is can you?

you mean can I give bleeps for free? Hell yeah If it's the one the one that's gonna involve me and you doing some closed door meeting in the other room. But the obvious Bleep, I don't give for free.

One “Know-Nothing” Governor of a South West State for political reasons even announced that the exchange rate would go as high as N1000/US1. Well, what can one expect of an HND holder? And who is this one " know -Nothing" Governor from the South West? --- Fayose

ISTANDWITHBUHAR:



Wailing zombie always complaining of hunger... hahah

Zombie o Zombie! Continue standing with corruption and failure.

Djbond:
Buhari is cursed

#fact

ChiefSweetus:

Oga, sometimes, try and shut up, okay?

young man, sometimes learn to mind ur phucking business or stfu.

oringobiafra:
Winnning with our dollllar going yi 450

Which planet are you please..

hahah wailing wailers always want things to go bad but God pass una hahah..

Wail on boy, 4yrs is not enough to be in opposition..

Djbond:
Buhari is cursed

LOL you are more cursed.. Son born with hatred sperm..


Your Father that is not cursed where is he today?

0b10010011:



Very long, void and crude criticism. Since u said a primary school student can steer our economy on course, can u briefly explain what "YOU" would have done to bail Nigeria out?


Glaring you lack indepth knowledge but won't conclude until you answer my question.

For u to even praise Emefiele shows how lowly u rate whatever knowledge and experience Emefiele might av had as a banker/economist.
Today a so called CBN gov says I wud sell forex only to multinationals or big investors like Dangote,it doesn't work.Next 3 mths aving realised it's not working, he says o,lets not give them thru d banks,lets give them direct.It also doesn't work,'o,they are not using it for buying machinery and raw materials as they claimed,but round tripping it,let us also sell to BDC,$5k per week,doesnt work,'o,let's now sell to students and travellers direct than them sourcing at d parallel mkt','o,lets also ban some items,unban others, ban d formerly unbanned, etc, etc.For 2yrs,its been policy sommersaults,trials,errors,more errors. Is that what any primary school person cannot achieve?
A competent CBN gov takes time to analyze his monetary policy plan,discussez it at length with his hundreds of aides and CBN experts,they analyze different scenarios and he finally comes out with d apex banks plans and sticks to it.
Just last week,d incompetent man reversed a stu pid plan to introduce charges on deposits and withdrawals. Meanwhile common sense economists and averagely educated Nigerians had shouted that d policy was one of d most foolish and detrimental to an economy in recession,wen it was first muted.But they nearly wanted to start it,till maybe d govt put pressure on his incompetent ass aving had better counsel.
Emefiele is the most incompetent CBN gov Nigeria has ever had,and if per chance he finally gets d naira to b strong,its not out of any deep thought and Knowledge,but thru a trial and error process that even a person without a secondary school education wud av achieved.

Akshow:
young man, sometimes learn to mind ur phucking business or stfu.

I thought I told this hungry plebiscite to shut up a few minutes ago?? Is this some sort of peasant revolt? Know your station in life and act accordingly, boy.

ChiefSweetus:

I thought I told this hungry plebiscite to shut up a few minutes ago?? Is this some sort of peasant revolt? Know your station in life and act accordingly, boy.

air head looney, u have been noticed and ur time is up. Run along kid, men are discussing.

Akshow:
Zombie o Zombie! Continue standing with corruption and failure.

LOL what a pained wailer always complaining of hungry, The little time you should have used to better your life, You are busy wailing all over Nairaland... haha

oringobiafra:
Abeg wen are they realeasing nnamdi kanu

2037 after 27yrs in prison..

Olukat:
Oh yes
Victory have different meaning under APC

And stealing have different meaning under PDP..

@op odiks, thanks for bringing this here. Dele sobowale is my best columnist in naija

kittykollinxx:
they can do better. we don't accept mediocrity anymore in Nigeria

Thank you. They want us to be celebrating mediocrity and foolishness. Never again. They should do the work they are employed to do. Too much hunger in the land

0b10010011:



And hasn't the government done that? I the $ not falling as at date? Explain the joke u were talking about.

You know nothing. How much was dollar to naira when osinbanjo was in charge? Infact how much was it before Buhari took over? They want us to celebrate mediocrity but we refuse. Our mumu don do.

Akshow:
air head looney, u have been noticed and ur time is up. Run along kid, men are discussing.

Get well soon, ya transient ham.

nams77:
@op odiks, thanks for bringing this here. Dele sobowale is my best columnist in naija

Years ago in uni, i would forgo a meal, transport myself to town just to buy the N100/N150 Sunday Vanguard to read Dele (Usually the next day because there was a delivery lag in my town or vendors just didnt turn up on sundays). Best monies spent while schooling. No obsfucating, prevaricating, brown-nosing, nothing. Just a great guy writing great stuff. Kept my wit up. Ever grateful to have been blessed by his penmanship.

ChiefSweetus:

Years ago in uni, i would forgo a meal, transport myself to town just to buy the N100/N150 Sunday Vanguard to read Dele (Usually the next day because there was a delivery lag in my town or vendors just didnt turn up on sundays). Best monies spent while schooling. No obsfucating, prevaricating, brown-nosing, nothing. Just a great guy writing great stuff. Kept my wit up. Ever grateful to have been blessed by his penmanship.

Exactly. Nothing completes my Sunday more. It was a must read for my dad and I then

Know nothing governor, is that uncle cut ponmo or stomach infrastructure governor

ChiefSweetus:

Get well soon, ya transient ham.

Get lost, u Silly momfo.

Djbond:
you mean can I give bleeps for free? Hell yeah If it's the one the one that's gonna involve me and you doing some closed door meeting in the other room. But the obvious Bleep, I don't give for free.

We need peoople like you to help lonely b****s out there.
Its good you indicated it on your belt buckle, keep giving them hope, keep giving it for free.
Like polio vaccine

bnanzip:
I went to buy a tricycle day before yesterday and they said it is 670k and I asked if it is a car I wanted buying. They said it is dollar that has gone up and I told the person dollar is no more going up and naira has appreciated so why the increase? They just laughed and I walked out.
Nigerians, the CBN is making efforts to reduce the rates but things will still remain high because we prefer to cheat than to actually do business.

That'sthe reality... we Nigerians are very selfish... When Dollar was high people were blaming the high cost of goods on Dollar but now people are still doing the same thing. Why? Greed..... True maybe Luxury goods like Cars should still be expensive but commodities like Tomatoe, Vegetables should not be.. but sellers will still blame it on old stock