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Nairaland Forum / Nairaland / General / Politics / Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years (15482 Views)
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Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by HenryThegreat1(m): 9:57pm On Sep 23, 2021 |
A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has narrated how the apex bank stabilised the naira against the dollar for five years from 2009 to 2014.https://punchng.com/fx-crisis-how-i-and-sanusi-stabilised-the-naira-for-five-years-cbn-ex-deputy-gov-moghalu/ 6 Likes
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Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Officialgarri: 10:03pm On Sep 23, 2021 |
Moghalu is still praising that failed government? Not all of us suffer dementia and not all of us were so young not to tell black from white. First, dollar wasn't stabled at $150.. It crossed to over $200+. And most importantly is the fact that it ess your boss, Sanusi, that publicly exposed the heinous corruption that the FG of then were using CBN to carry out. Moghalu should sit back and hope for a governorship seat. All these pathetic stories and pseudo solution can only appease the wailers but it won't earn him a presidential ticket with a notable party. Modified Stupidity and and hypocrisy is when you choose Jonathan's $150 official rate to compare $570 black market under Buhari 23 Likes 7 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by inoki247: 10:04pm On Sep 23, 2021 |
For now them say na AbokiFx dey disturb awa dollar na him dey mak am rise laik Garri ijebu... Let's wait till Dec maybe dem go blame demon this time around.. 9 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Disturb: 10:05pm On Sep 23, 2021 |
inoki247:You all should let my moniker rest pls 6 Likes 3 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by SarkinYarki: 10:06pm On Sep 23, 2021 |
You did nothing special ... Jonathan was just a more stable leader ...If you worked under a confused non performer like Buhari there is nothing you can do 58 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by nairavsdollars(f): 10:08pm On Sep 23, 2021 |
Why can't Buhari bring people like this into his government to assist him? 6 Likes 2 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by sholatech(m): 11:00pm On Sep 23, 2021 |
Officialgarri: Well, you are a Garri Seller and not a researcher. Go to the official Cbn website, all Official rates are there for easy reference within the stated period. He did not lie. And he is talking about exchange rate management. Not corruption, which for some of us is high during the military rule, was high during the PDP days, and still very much high so far under APC. CBN governors will only talk about official rates, not the street/parallel rate. How much was it during sanusi tenure? And was sanusi not largely independent on foreign exchange management? Of course, foreign investors see clearly that Meffy is largely dependent for political reasons. 84 Likes 4 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Sirjamo: 11:23pm On Sep 23, 2021 |
The only thing that they used to defend the naira back then was oil money which averaged $100pb, forget the rest, na useless grammar. 28 Likes 3 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by OG1BABY(f): 11:38pm On Sep 23, 2021 |
Okay |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Ayo8(m): 11:54pm On Sep 23, 2021 |
Voting in this APC led govt in 2015 is the greatest mistake we made as Nigerians.... 14 Likes 2 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by sholatech(m): 1:01am On Sep 24, 2021 |
Let me share a valid report released today by EFG Hermes, Investment Banking and the leading financial partner in Frontier Emerging Markets (FEM) and Extracted from Businessday, which aptly captures what this government has done to our FX Position(and i must say differently from Sanusi's period: “we remain wary of the fact that Nigeria has failed to build reserves so far this year despite a very elevated oil price environment hence making the one-off boost of USD7.5bn less reassuring in terms of providing a sustainable FX position. “Second, and beyond the external position, the current administration has consistently avoided much-needed structural reforms, which has resulted in a notable deterioration in its macro prospects. These include rising fuel subsidies, low non-oil revenues, deteriorating security conditions, and an unconventional monetary policy fixated around FX stability. Resolving the FX situation is therefore only one step of many needed to boost Nigeria’s economic growth prospects,” Basha says in the report 4 Likes 1 Share |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by vedaxcool(m): 1:26am On Sep 24, 2021 |
Officialgarri: He even backstab SLS after the exposure in the hope he will be made CBN Governor but he was sorely disappointed and ignored. He sha likes to share biscuits. 8 Likes 1 Share
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Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by vedaxcool(m): 1:31am On Sep 24, 2021 |
[s] nairavsdollars:[/s] No one will bring a useless idiot like moghalu who betrayed SLS just to be CBN Governor thus supporting the most dangerous pilfering of Nigeria's resources in the history of stealing resources. Nigeria does not need mediocre idiots who lived most of their lives in the US as mediocre and don't really believe in Nigeria, only to start forming superman so as to come and live that life. 9 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by afube: 1:42am On Sep 24, 2021 |
Officialgarri: abeg shut it already...........like you are the only one with the memory of the period! that's how you dumbos brought in this worthless government into power. nonsense!!! 26 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by samuel19222(m): 4:38am On Sep 24, 2021 |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Aufbauh(m): 4:39am On Sep 24, 2021 |
To even think that Buhari inherited this same Emeifule from the corrupt regime and still kept him is nauseating. The prelude to this situation is when the PDP'dollarized' the economy prior to 2015 general election. Then mopped up and hoard the dollars when it became obvious they are not returning to power. This situation led to fx scarcity, and with the dip in oil price the situation got out of hand. 5 Likes 1 Share |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by MANNABBQGRILLS: 4:40am On Sep 24, 2021 |
He said, “We worked very hard on the matter of the exchange rate because we wanted to create a very investment-friendly climate for both local and foreign investors in the Nigerian economy and we knew that one of the keys to that was an exchange rate that was stable. 3 Likes 4 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by MANNABBQGRILLS: 4:40am On Sep 24, 2021 |
Officialgarri:@ the bolded, Hmmmmm, this is deep!!! 3 Likes 3 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by JustforMen: 4:50am On Sep 24, 2021 |
Officialgarri: Sorry 30k gang, but Yar'aduwa government cannot objectively be called a failure; not compared to any government in recent history. you did not address any of the issues he raised but you went straight for the person... typical of una and the stale 'wailers' word gave you away. you hailer, are hailing the worst government by all objective indices in Nigeria's history! 19 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Ramos16(m): 4:55am On Sep 24, 2021 |
Officialgarri:You never see suffer that is why you still get mouth to talk 11 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by xpressionx(m): 5:04am On Sep 24, 2021 |
ok |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Nobody: 5:14am On Sep 24, 2021 |
He played down how much a barrel of oil was selling then and how much his boss told the whole world that GEJ and his gang of looters mismanaged. Wailers will see this his ranting fascinating. 3 Likes 1 Share |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Kingcalls: 5:20am On Sep 24, 2021 |
Officialgarri: So what will u call this government?? 5 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by freshalien: 5:20am On Sep 24, 2021 |
Officialgarri: Are you mad?? I ask you again are you sure you are not mad?? I remember when the dollar was at N160 for a long while. I remember things were more stable than the calamity we have right now in Nigeria under the lifeless vegetable in Aso Rock. The dollar today is at 575, already on its way to 600. By 2023, it should have hit 1000 Naira. So I ask you again, are you mad The God that would punish you for defending ineptitude and corruption ennn!! 22 Likes 3 Shares |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Nobody: 5:23am On Sep 24, 2021 |
The only thing I regret in my life was the day I went to press APC at the ballot..This wasn't the Nigeria we expected under this government..... 4 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Alex80s(m): 5:23am On Sep 24, 2021 |
Officialgarri: The highest was around 185 naira to 1$ in December 2014. It was around 158 in the beginning of the year... 7 Likes |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by Mendy101: 5:24am On Sep 24, 2021 |
Officialgarri: Keep deceiving yourself with lies, I remember dollar was about 197 during the 2015 general election and moved to 203 immediately after the election, then it dropped back to 197 almost 2 weeks later when the tension surrounding the election fizzled out..please say what yo know and stop making noise 8 Likes 1 Share |
Re: Kingsley Moghalu: How I And Sanusi Stabilised The Naira For Five Years by allthingsgood: 5:33am On Sep 24, 2021 |
Officialgarri: Lol wow u just finish the guy sha 2 Likes |
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