Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,162,681 members, 7,851,342 topics. Date: Wednesday, 05 June 2024 at 05:27 PM

Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele (35830 Views)

'$1Billion Was Stolen Every Month Under Goodluck Jonathan' - Emir Sanusi / Foreign Reserve Hits $26.9bn, As Value Of Open Contracts Rises / Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by NovusHomo(m): 10:40pm On Jul 08, 2015
philips70:


I have said it, even if baba go slow falls into coma for the next 4 years he will still be miles ahead of GEJ and the gang. Brace up for good times.

lalasticlala, OAM4J please promote this thread so the children of multiple anger can get a sleepless night.


http://theeagleonline.com.ng/foreign-reserve-has-risen-by-2-89b-in-one-month-under-buhari-emefiele/

I don't give phuk, Emefiele must go. He is a thief courting the favor of the NASS to keep his job. Does he forget that he has first to be nominate by PBM? I know that is not going to happen. Quote me anywhere.
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by 989900: 10:43pm On Jul 08, 2015
atlwireles:
Nigerian stocks fell to a three-month low and the naira hit a new record low on the parallel market on Wednesday, as investors who were worried about a shortage of dollars on the currency market sold shares, traders said.

The Nigeria Stock Exchange (NSE), which has the second-biggest weighting after Kuwait on the MSCI frontier market index, dropped for the sixth consecutive day as investors pulled out of equities to short-dated Treasury bills in search of yield.

Investors had hoped for a sustained rally after smooth elections in March. But markets have taken a hit from worries over the continued slide in the naira and the impact of persistently low oil prices on government finances.

“We believe the uncertainties within the forex market may have triggered further sell-offs by foreign portfolio investors,” said Ayodeji Ebo, head of research at Afrinvest.

“The persistent pressure and increased (dollar) demand suggest a devaluation of the naira is imminent,” he added.

The central bank, worried about rising inflation, has said it is in no mood to devalue the naira again, after it tightened access to hard currency for the import of a wide range of goods.

Since the central bank measures, the naira has weakened steadily on the parallel market, hitting a new record low of 233.50 to the dollar on Wednesday.

On the interbank market, it traded near the central bank’s pegged rate of 196.95 naira. Investors questioned how long the bank’s rate could hold there, when the currency was trading further and further away on the parallel market.

DOLLAR SHORTAGE

People were buying dollars to protect themselves against further naira weakness, said Aminu Gwadabe, president of Nigeria’s Bureau de Change association.

Analysts say naira weakness would hurt consumer good firms who rely on imports of raw materials. Ebo said investors had priced in lower profits as a result.

The all-share index shed 1.19 percent on Wednesday, 10.4 percent lower than its 2015 peak, which it hit on April 2 after Muhammadu Buhari won a closely fought presidential election.

But Sub-Saharan Africa’s second biggest stock market has drifted lower since as investors wait for policy direction on issues such as the naira and petroleum investment.

The index of Nigeria’s top five oil stocks declined 2.65 percent on Wednesday, weighing on the all-share index. The top two decliners were Oando and UBA, each down more than 5.5 percent.

The most liquid 5-year bond yield rose to 15.01 percent on Wednesday, up from 14.20 percent two weeks ago, when the central bank introduced new rules and close to its pre-election quote of 15.5 percent in March.

http://businessdayonline.com/2015/07/stocks-fall-to-3-mth-low-as-naira-weakness-persists

GTBank charges N216 to $1. sad
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by Reference(m): 10:44pm On Jul 08, 2015
That will be very commendable.

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by nduchucks: 10:44pm On Jul 08, 2015
atlwireles:
The most liquid 5-year bond yield rose to 15.01 percent on Wednesday, up from 14.20 percent two weeks ago, when the central bank introduced new rules and close to its pre-election quote of 15.5 percent in March.

.
.
.
.
.
.
.
.
.
.
.
http://businessdayonline.com/2015/07/stocks-fall-to-3-mth-low-as-naira-weakness-persists

eeyah, how sad. pele o

www.nairaland.com/attachments/2047673_manochefablabla_gif67aaa7a8079946b7eceb1afb2b1aa9a5


Lookup the meaning of red herring.

3 Likes

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by joseph1832(m): 10:45pm On Jul 08, 2015
Firefire:



You are also admitting that Buhari is "BABA GO SLOW" ?

I was actually thinking you people preached CHANGE ?

So na FAKE CHANGE undecided
Even when the change comes, people like you will never see it because the truth will never be accepted by the likes of you and your kind.

Never forget my good man "slow and steady wins the race".

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by agabaI23(m): 10:46pm On Jul 08, 2015
Just saw in the news this morning that the foreign reserve went down by $600 m in June alone. Which one do I believe. I didn't like it so I wish this is right but....
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by Sigo86(m): 10:47pm On Jul 08, 2015
INTROVERT:
The source I don't trust.

U've never trusted anythn in ur whole life... angry
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by light004: 10:48pm On Jul 08, 2015
philips70:


I have said it, even if baba go slow falls into coma for the next 4 years he will still be miles ahead of GEJ and the gang. Brace up for good times.




http://theeagleonline.com.ng/foreign-reserve-has-risen-by-2-89b-in-one-month-under-buhari-emefiele/

In your dreams and keep dreaming. Baba one chance
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by philips70(m): 10:50pm On Jul 08, 2015
Nigerians who believed in PMB and change but are feeling down because of the seeming lull in government activities FRET not. One thing that you are sure of is the YAMS have finally been separated from the GOATS and only PMB is capable of doing that.

2 Likes

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by Jesusloveyou: 10:51pm On Jul 08, 2015
malbro:
God bless Gej
i miss gej clueless, he was a curse to nigeria

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by adamskutty(m): 10:51pm On Jul 08, 2015
philips70:


I have said it, even if baba go slow falls into coma for the next 4 years he will still be miles ahead of GEJ and the gang. Brace up for good times.




http://theeagleonline.com.ng/foreign-reserve-has-risen-by-2-89b-in-one-month-under-buhari-emefiele/
I have always believe in buhari! Buhari! Buhari! Buhari! grin grin grin

Thank GOD, u believe him too! Too! Too! Too! grin grin grin grin

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by uchennaq(m): 10:54pm On Jul 08, 2015
philips70:


I have said it, even if baba go slow falls into coma for the next 4 years he will still be miles ahead of GEJ and the gang. Brace up for good times.




http://theeagleonline.com.ng/foreign-reserve-has-risen-by-2-89b-in-one-month-under-buhari-emefiele/

“LNG bailout fund Jonathans savings”- PDP insists - advises presidency to deal on issues & stop personal insults & abuses

Press statement from the PDP....
The Peoples Democratic Party (PDP) insists that contrary to claims by the Presidency, the $2.1 billion Liquefied Natural Gas (LNG) component of the bailout for states was actually saved by the immediate past President Jonathan-led PDP administration.
The party said in actual fact the LNG dividend stood at $5.6 billion even before the handover date of May 29th and would have been shared but for the insistence of former President Goodluck Jonathan that it be left for the incoming administration to manage.

PDP National Publicity Secretary, Olisa Metuh in statement on Wednesday thanked President Muhammadu Buhari for making it possible for Nigerians to know that monies were left behind by the Goodluck Jonathan administration.

The party said despite attempts by the APC-led administration to hide the truth, the issuance of the bailout with funds from the LNG proceeds and the Excess Crude Account (ECA) has exposed the fact that the PDP administration actually left behind huge sums of money, contrary to the impression earlier given to Nigerians and the international community that the new administration met a virtually empty treasury.

“It is gratifying to note that gradually the evidence of monies left behind by the PDP-led administration is coming to public light despite effort by the new government to hide the facts.

The public had been made aware that $2 billion was left in the ECA for which the Accountant –General and the APC confirmed approvals for the withdrawal of $1.7 billion.

“We know that surely, though slowly, a lot of other monies saved by the PDP and which are now under the control of the APC government will eventually be unveiled by this administration themselves and without any effort on our part whatsoever.

The PDP says it believes that President Buhari must have realized that he was earlier misdirected on the actual state of the nation’s finances and should as a respected statesman apologize to his predecessor, President Goodluck Jonathan who also ensured that he handed over to him a peaceful and stable environment to operate.

The party said “President Buhari as a leader on whose shoulders lies the mandate of the Nigerian people and the burden of governance for the next four years should strive to disentangle himself from the intrigues, propaganda, blackmail and machinations of some leaders in his party and focus on delivering on his campaign promises for which he was elected.”

The PDP also urged the APC as a party in power to rise above board and endeavor to be honest in its dealings, especially if it wants Nigerians to take it seriously. It said a situation where a ruling party will resort to a dishonorable act of altering a statement where it earlier acknowledged the approval for the withdrawal from the ECA, just to hide the truth, leaves much to be desired.

Finally, we want the public to note that all our statements and engagements have been based on facts and issues. Consequently, we urge the Presidency to focus on issues and stop trending on personal insults, threats and abuses.

Signed:
Chief Olisa Metuh
National Publicity Secretary
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by atlwireles: 10:54pm On Jul 08, 2015
nduchucks:


eeyah, how sad. pele o



Lookup the meaning of red herring.

Almajiri, waiting for SAI Daura Dulllllard Chants

2 Likes

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by light004: 10:55pm On Jul 08, 2015
Barselonia:
Here comes the change we are waiting for.......

Make I comment before gejite would attack me grin grin cheesy grin.....


This is just the beginning.....

Yes, increase in reserves is just one of the indicators, there are many more that are not looking good. let me mention a few, decaying infrastructure, unpaid salaries, high unemployment, import dependent, monoproduct economy, etc. You may add more.
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by adamskutty(m): 10:56pm On Jul 08, 2015
INTROVERT:
The source I don't trust.
No one gives a fvck whether u trust the source or not! Not! Not! Not! grin grin grin grin grin
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by Nobody: 10:58pm On Jul 08, 2015
31billion -29billion =2billion in a month. Its good, but is it spectacular? Do we expect it to reduce?.I can start acessing this administration when it fully starts working. For now its just 'priming'.
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by ayusco85(m): 11:05pm On Jul 08, 2015
freedom96:
Lwkmd grin. Emefiele u sure say ur people no go stone u cos of this?

Mogidee is not going to like this.

who the hell is Mogidi? undecided. is he a tout? or militant?

2 Likes

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by ogazi007(m): 11:06pm On Jul 08, 2015
Everything they handed over to Gej in one piece he left all of them in disarray.It's a confirmed news,I just heard it from the CBN governor now on channel news.

PMB should take as much time as he want to deliver on his promises.We have done the wrong things in a hurry,it's time to plan and do things differently in order to achieve different results.May God gives him the courage to ignore his distractors and focuss on the good job he is doing.

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by bigerboy200: 11:12pm On Jul 08, 2015
1bunne4lif:
What is the noise all about, isn't the foreign reserve supposed to grow. It has no reason whatsoever to be stagnant because money flows in and moreover, baba one chance have not taken a step yet, he's just dormant. He hasn't spent money on anything except the bail out money. I'll start to take him serious and appreciate him after he might have formed his cabinet.
ur opinion is irrelevant..Go and welcome ur clueless master in Otuoke....
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by amazingspiderma: 11:16pm On Jul 08, 2015
I hope this news creat employment for the unemployed graduate who has been at home for many years.
I will keep saying this again and again.
Any Government that fails to provide oppourtunity to it educated youth,is nothing but a morden slave camp.
I belive the Nigerian youth must come up with its yardstick of measuring gorvenment performance and not just vote like uneducated people .
We must distinguish ourselves and give mandate to politicians,so that people don't just go to school and become idle after graduation.
Someone has to start taking us serious.Today in the UK palirment on budget review, it was all about home grown companies,jobs,apprentiship and youth empowerment for successive leadership and economic prosperity.
But back home in Nigeria people are looking for ways to dominate power through Godfatherism untill they die.
These were the same people who were given oppurtunity to rule when they were our age,now they look upon us and want to make us their footstool when should be the ones delibrating about thier pensions in the Senate house.

Let no one dispise thy youth......

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by ideylaff: 11:16pm On Jul 08, 2015
steffans:
hmmm...
CBN Govenor are u sure??
Hope you are not giving false figures to retain ur Position

He must surely go..... hes part of the past

Toothpick Governor...
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by chiedu7: 11:17pm On Jul 08, 2015
[size=14pt]BUHAIR HASN'T DONE JACK, SO IT HAS NOTHING TO DO WITH GMB[/size]

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by nd07(m): 11:19pm On Jul 08, 2015
philips70:


I have said it, even if baba go slow falls into coma for the next 4 years he will still be miles ahead of GEJ and the gang. Brace up for good times.




http://theeagleonline.com.ng/foreign-reserve-has-risen-by-2-89b-in-one-month-under-buhari-emefiele/



well they know how gullible majority of nigerians r dt's y lies can b sold & nigerians pay alot 2 buy it. under 1month by a man was crying some days ago over empty treasury left 4 him, over 1billion dollar added 2 FR in 1month upon d drastic fall of oil price & a lot of odds surrounding d nation's financial growth. please spare me ds propaganda
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by bigerboy200: 11:21pm On Jul 08, 2015
TANoids wont like this news ohhh..can see dem squeezing their face like monkey wey lick lime...

1 Like

Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by nortcentrallord(m): 11:22pm On Jul 08, 2015
Sijo01:
Same way bombing, killings, bad news etc has also increased embarassed


Price of food stuff is going higher everyday since mai asigiri took over. God help us ohhhh.
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by ideylaff: 11:26pm On Jul 08, 2015
nd07:




well they know how gullible majority of nigerians r dt's y lies can b sold & nigerians pay alot 2 buy it. under 1month by a man was crying some days ago over empty treasury left 4 him, over 1billion dollar added 2 FR in 1month upon d drastic fall of oil price & a lot of odds surrounding d nation's financial growth. please spare me ds propaganda

Money in reserves is normally used to defend the countrys currency when things are bad

it not an account you withdraw from to pay salaries or recurrent expenditure

Jonathan met over 60 Billion in there and spent almost half of that not to defend the currency when oil prices fell bit spent on reccurent expenditure

that was a poor and suisidal move

i dont habe confidence in the governore of the CBN as well

Im privy to all the bad practices hes bn coniving with the immediate past government

its so messy

why hes speaking to defend his position and visiting Bukola Saraki is because hes gotten wind a new governore might be appointed soon
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by sapientia(m): 11:31pm On Jul 08, 2015
What kinda crap is this...

No contracts cos no minister to approve them..


Where him for spend d money?..

Can Nigerians be this gullible?
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by ideylaff: 11:34pm On Jul 08, 2015
sapientia:
What kinda crap is this...

No contracts cos no minister to approve them..


Where him for spend d money?..

Can Nigerians be this gullible?

That is not what the reserves are meant to be used for. LOL

Its not meant to be for contract execution.... Nigerians be like market buy and sell nooo ooo


Money in reserves is normally used to defend the countrys currency when things are bad

it not an account you withdraw from to pay salaries or recurrent expenditure

Jonathan met over 60 Billion in there and spent almost half of that not to defend the currency when oil prices fell bit spent on reccurent expenditure

that was a poor and suisidal move

i dont habe confidence in the governore of the CBN as well

Im privy to all the bad practices hes bn coniving with the immediate past government

its so messy

why hes speaking to defend his position and visiting Bukola Saraki is because hes gotten wind a new governore might be appointed soon

The CBN givernor is nor more less a Commercial Banker nothing more

hes on his way out..... ds SE way of running the countrys finance just like NOI was a gestapo lord in the economy and ministry is sure over

Lets get real hands to run the country

NOI is/was intelligent but lacks and lacked applicaton

sad she was so into only but SE in the nations finances... so politicised... during her time
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by jcross19: 11:46pm On Jul 08, 2015
philips70:


I have said it, even if baba go slow falls into coma for the next 4 years he will still be miles ahead of GEJ and the gang. Brace up for good times.




http://theeagleonline.com.ng/foreign-reserve-has-risen-by-2-89b-in-one-month-under-buhari-emefiele/
soonest we shall know the truth when it will hit us hard mr emefiele will come and deny it. The foreign reserve is gaining why nigeria government is going to anarchy this situation is like you are looking fresh but inside hungry is. Beating up and down, you the only one that can feel the heat.
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by petsolo15(m): 11:49pm On Jul 08, 2015
worst of Buhari is better than. best of GEJ
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by Holak: 11:55pm On Jul 08, 2015
We have really lost the sense of critical reasoning in Nigeria, hence we are taken for a ride. Let us even assume that the figure of $2.89 billion naira increase is true. We are talking of reserve. What sense does it make that your earn N100,000 in a month and when you get your salary, you deposit it in your savings leaving your wife and children hungry: no food, no school fees, no shelter. You only want to tell the word that you can save money. Well, the good side of the news is that Jonathan left $29 nbillion. At the rate of Buhari adding about $2 billion in 2 months, it will take him 29 months to get to what Jonathan left assuming he doesnt spend a kobo out of it. Good admission. And then some people should be apologizing for deceiving Nigerians that they met empty treasury. Maybe they wanted to steal it.
Re: Foreign Reserve Has Risen By $2.89b In One Month Under Buhari – Emefiele by daninphilo(m): 12:00am On Jul 09, 2015
Let the tanoid know pmb is far better wait nd c

(1) (2) (3) (4) (5) (6) (7) (Reply)

President Buhari Was On Life Support - Fayose Insists (Video) / Senate Approves Tinubu's Request To Appoint 20 Special Advisers / Bukola Saraki Plays Basketball With Youths (Pictures)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 61
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.