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Nairaland Forum / Nairaland / General / Politics / ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response (85964 Views)
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Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nobody: 12:30pm On Dec 31, 2019 |
Nukilia: you are the one that should learn more about issues of commerce before politicizing them. I am not a fan of buhari but this Eco move by the 8 French west African countries without due consultation is absolute nonsense that shouldn't be agreed to by any country worth anything. Think before oozing out bullshit off your arse 9 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by EzeIgbo1: 12:31pm On Dec 31, 2019 |
Nukilia: Is it Naira you spend in Ghana? Why are you deliberately being stupid to yourself? Any money converted to the cedi becomes useless because the cedi is useless. You spend more cedi to convert to less Naira and you spend less naira to convert to more cedi. Which of the above shows the one that is stronger? You smoke? 19 Likes 1 Share |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by JerryJJZ(m): 12:31pm On Dec 31, 2019 |
APCNig: I cant figure it out, if this your reply is praising or ridiculing MBuhari.... |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by KingGBsky(m): 12:32pm On Dec 31, 2019 |
EzeIgbo1: Hmm... I heard same thing. It’s just that the Ghana Cardi seems confusing most times. I had the taught that the west African countries will adopt Naira as their major currency not creating a new one. They don’t seem to give Nigeria her due respect. 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nobody: 12:35pm On Dec 31, 2019 |
Are wailers determined to be 2-4-7 blind? Because they hardly see 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nukilia: 12:36pm On Dec 31, 2019 |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Parablesonmarble: 12:37pm On Dec 31, 2019 |
APCNig: I think Nigeria must be very careful. The hurried adoption is extremely well calculated. With Nigerian borders closed, the signal is that Nigeria's foreign economic policies are no longer focused on Africa in general and West Africa in particular. With that, smaller ECOWAS countries would seek economic ties and protection elsewhere. Everyone needs assurance. Breaking the Anglophone West Africa into bits and pieces and not a bloc has always been France's main headache. Now that Nigeria has unwittingly offered the chance on a platter of gold, France has taken it. The adoption also solved the problem of Morocco's incursion into the territory West African territory because they'll never adopt Eco as their own currency. The home truth is that France's continued relevance as superpower relies heavily on keeping Francophone Africa in perpetual neo-colonization by control 50% of their foreign reserves and holding the right of first vetting any major economic decisions in these countries, which comes handy in fulfilling their own economic obligations. Present French president interned in Nigeria for a while long time ago and understands the inner workings as shown by his last state visit. It was all in the attempt of solving the ever present problem that was Nigeria's attempt to unify West Africa into viable economic bloc, which will greatly affect France's own economy and status and might be the beginning of African renaissance that Ghaddafi was pushing for and made the superpowers led by U.S. eliminate him. If not properly handled, Nigeria will lose out and our reliance on the unsustainable oil-fueled economy will become greater. You cannot isolate yourself just to prove you are bigger than the rest. You need allies. Not even U.S. or Russia has ever completely isolated themselves. Even North Korea has a loose alliance with Iran. Hopefully, Nigeria will outmanoeuvre France in the long run as you predicted, otherwise.....I sense trouble. 12 Likes 2 Shares |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nukilia: 12:37pm On Dec 31, 2019 |
KingGBsky:Nigeria is perceived as a fraudulent nation, hence adopting such a currency as Naira is a disaster for the West African region. |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Caustic001: 12:37pm On Dec 31, 2019 |
Culled and translated from a french website : What is happening with the eco is that the heads of state of the ECOWAS have noted that this currency will have a flexible exchange rate regime. This means that countries like Ghana and Nigeria, which are used to this exchange rate regime, will be the locomotives of the eco. The specific problem of Nigeria is that it is never in the same phase of the economic cycle as the other countries of the ECOWAS, because it is an oil exporter, while the others are rather oil importers. What makes that there is always this reluctance compared to the optimality of the future monetary policy of the Cédéao space. And then there is a second thing that makes Nigeria often reluctant, is that it realizes that it is going to have to be the lender of last resort for the eco, since its GDP still represents 70% of that of the ECOWAS, with a population which is half of this sub-region. And so, it is not always certain that Nigeria is ready to play this role of lender of last resort, with what that implies in terms of budgetary solidarity and the transfer of resources to smaller economies. A few days ago, the Nigerian Minister of Finance said that the announced deadline for the birth of the eco in 2020 would not be met, because all the convergence criteria are practically met by only one of the 15 member countries of ECOWAS: Togo. What is your comment? 9 Likes 3 Shares |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nobody: 12:37pm On Dec 31, 2019 |
APCNig: So many people here on nairaland are dumb fùcks who know nothing about international politics. I trust the FG won't accept that deadly proposal which has been hijacked by france already. 5 Likes 2 Shares |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by EzeIgbo1: 12:38pm On Dec 31, 2019 |
KingGBsky: The Ghanaian cedi is only confusing to Ghanaians but to Nigerians we take advantage of their currency. We understand it better than they do and this is why we rise quickly here and faster than they do Because their money Is so weak we can make it quickly and save it back home in Naija quickly too. That is the only advantage. For them they cannot save it outside Ghana except if they have a foreign account so most of them are impoverished due to this fact that their currency is weak and the purchasing power weak as well. Enter their markets and you will see produce for the poor everywhere just so the poor can afford to buy something and this is done so the market people too would not starve. After all if dem no sell wetin dem go chop 3 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nukilia: 12:40pm On Dec 31, 2019 |
EzeIgbo1: The same voodoo economics you quoted here, kindly explain it with the US dollars.... My friend stop all these stuffs you're typing here just to encourage yourself. The Nigerian economy is bad |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by foreshore(m): 12:41pm On Dec 31, 2019 |
Kwamecron: I wonder O. Why compare Ghana with Nigeria |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by HarryDuce(m): 12:41pm On Dec 31, 2019 |
The Ghanaian response shows the application of tact more so than the one from Nigeria. You cannot play big brother in a detached reality. Someone else is sure to fill that void. For those referencing Brexit, they know next to nothing about the motives of the Brexit party. Nothing economical about the whole charade as some wrongly assume. |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nobody: 12:41pm On Dec 31, 2019 |
donbachi: You people are too ignorant and naive. Always rushing to bash the goverment when you guys are completely clueless about the whole thing. 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by staga: 12:45pm On Dec 31, 2019 |
No sane country will adopt a single currency which by fiat, has been hijacked by France and pegged to the Euro. It is unacceptable. 7 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by DJperdurabo: 12:45pm On Dec 31, 2019 |
Nigeria's response, though curt, in my opinion, is the more "matured". Contact me for your pressing personal and business cash needs. 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by obaaderemi: 12:45pm On Dec 31, 2019 |
Danwakae:You are the one who should read again. Do you expect Nigeria to just sign up to a new concept without weighing the pros and cons? There is nothing wrong with Ghana's response as well as Nigeria's. 3 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nobody: 12:46pm On Dec 31, 2019 |
Danwakae: How is he off point? With the way you people think in that country, even God cannot help you people o. What do you know about the new currency? Absolutely nothing! 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nukilia: 12:46pm On Dec 31, 2019 |
jayfolarin:I am not responsible for your frustrated life...learn to be civil with your comments.. 1 Like
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Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by IMASTEX: 12:46pm On Dec 31, 2019 |
APCNig:You have a very valid point coming from a partisan point of view of the APC. Most especially at the bolded which has obviously been proven with the current state of Nigeria. 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by jay169: 12:47pm On Dec 31, 2019 |
That was a good response. And if there is going to be any currency for W/A it should be Naira. |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Thegoodone13(m): 12:47pm On Dec 31, 2019 |
It has advantage and disadvantage. It will affect Nigeria more than any other country. FG need to study it very well and work on how it will benefit us. 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by EzeIgbo1: 12:47pm On Dec 31, 2019 |
Nukilia: Na to open your head put intelligence inside remain because one little sense no dey for Inside. The Ghanaian currency Is a false one. A farcade. You claim it is 5.7 cedi to a dollar when in reality if the zeros were not removed it would have been 570 cedis to a dollar because they removed 2 zeros. This means the real value remains at 570 cedis to a dollar despite the paper money saying 5.7 cedis to a dollar. This is why this paper value can never defeat the real value and it explains why their purchasing power is very week and as good as useless 9 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by praz001(m): 12:48pm On Dec 31, 2019 |
Nigeria we stand on our own...... Must we accept every jargon without weighing the impact negatively and positively.... Great response from our country.... Only a fool sign or jump to conclude on things without studying it effects... 6 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nobody: 12:48pm On Dec 31, 2019 |
APCNig:please which university did you study and what in particular? 1 Like |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by edoairways: 12:48pm On Dec 31, 2019 |
superability:What!!!!! |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Focusmind: 12:48pm On Dec 31, 2019 |
gloriaunobi: Canada is too boring o. You better remain here |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Nukilia: 12:49pm On Dec 31, 2019 |
staga: But Naira has been pegged to the dollar for years and we aren't making any progress with it |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Ayiibobo(m): 12:50pm On Dec 31, 2019 |
Tulsaguy:and u took time to type all this jargons and irrelevant gargabe,..like is this supposed to be funny or show that u are smart,aaaah my dear u need psychiatric evaluation,2020 is here it should be the first thing you do,..before it becomes unfortunately worst for u,.......Just an advice 4 Likes |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by Babaheekmat: 12:51pm On Dec 31, 2019 |
Nigeria is still reading the documents |
Re: ECOWAS New Currency - Compare Ghana's Response To Nigeria's Response by KingGBsky(m): 12:52pm On Dec 31, 2019 |
EzeIgbo1: I think I understand the basics of the Ghana cedis better now. It’s just a sham. 5 Likes |
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