2pacarnate:


Oga,if it was rochas,umahi,orji uzo,they won't win all those SE States,meaning obi did it not because he is igbo,but because igbos and edos believed he is too good,why didn't you mention how he won flawlessly in Edo?how Edo is becoming the capital of labour party?abi Edo your cousins na igbos too?

Well about orji uzo,have you ever been to ABA,I mean where you in ABA during orji uzo regime?am sure you were not so please never ever say that again,I was born in the middle 80's and I just finished secondary school when orji uzo became a governor.

Orji uzo did all the roads in ABA,I kive in Ibadan now and Ibadan is so depleted,my wife is yoruba and he told me that it was even ajimobi that did some roads like 6 years go or so wey don spoil.

Oga orji uzo in my very eyes did Jubilee behind my road which is a major road called Azikiwe,did market road Infront of me,did tenant road,Cameroon road next,Clifford road,ehi road and ASA road,these raids are in front of each other because ABA was greatly planned,that man did all the roads in ABA but the next governors that followed him did nothing

Orji uzo made enyimba football club what it is today,as of that 1999 he started paying players 1million,always comes to the stadium on coaster bus with his commissioners every weekend to come watch match,ABA was so so sweet and looks great,funny enough you have never been to ABA or have only saw it on news few years back or being to there few years back,so never you talk about what you don't know,

The only state in yoruba land that is far beautiful/Better than ABA is Lagos,during orji uzo time,I be confirm ABA born and brought up,the only governor that can beat what he did is otti,but not yet.my Yoruba wife even told me how messed up ekiti is, don't talk about where you have never been to please

Anyways

TRUTH HURTS

If you like capitalize,do you wonder why igbos can never vote for other politicians in igbo land the way we voted for obi?it's because we don't support nonsense,obj,yaradua,Jonathan ,these are the 3 presidents igbos voted for and they didn't dissapoint and ARe not igbo,we even voted OBJ against ojukwu which angered ojukwu.

So if at all obi messed up,we will attack him that is who igbos are,as for tinubu he didn't fight for your own good,the looting and destruction APC is engineering now is the reason why he did a coffin for Jonathan and did occupy Nigeria,we all were gullible and fail for it not only you,yet we refused to vote for buhari because we knew he would be a disaster not because he is not Igbo,is that not why he called us 5%?

Broda truth be told that buhari and tinubu you voted for are disasters,we are not part of it,continue defending him as your brother,hope you got the prayer akpabio sent to your mailbox for your holiday enjoyment bro👍

This is what I'm talking about. See how you defend Orji Kalu who has a N9bn case on his neck. Yet you think the average Yoruba should not support Tinubu who does not have any case on his neck.
You can't decide for yourselves who to support and also decide for others. The point I made about Tinubu's popularity in the SW does not seem to resonate with you. Yet you're making excuses for Uzor Kalu. While you're doing that, note that Tinubu's party has lost almost same number of elections as he has won in the SW. Yet, you think Yorubas are tribal while Igbos are matured voters. Tinubu got only 65% votes from SW which shows voter apathy while Obi got 92% of votes from SE.
Your claim of voting OBJ, Jonathan, Yaradua is infantile because the three of them also won SW. Jonathan lost SW in his second bid based on his poor performance and nothing else. Even he admitted much.
That you're comparing states shows the myopic to are. Ekiti is comparable with Ebonyi. But besides that, i always see it as a silly thing when you guys go about comparing cities and states. None of your states is not affected by general economic decline of the country. Nigeria as a country is facing economic challenges and none of your states is immune from it. So stop all this jingoism off your states are better. If it were so, you'll have more migrants in those states. Note also that more igbos voted buhari in 2019 than 2015 while less Yoruba voted for him in 2019.

I have often wondered why if we had around $35 billion, the CBN couldn't supply enough dollars to maintain the naira value.

The weekly demand for dollars is somewhere around $500m. That's not too much for a country that claims to have $35 billion in foreign reserve and is also earning dollars daily from crude oil, gas, and other exports.

Now I see that only around 10% of Nigeria's so-called foreign reserve actually belongs to Nigeria. The rest was used as security to borrow money by Mr Buhari. Chai.

Buhari finished this country.

To think he was wasting valuable dollars on a train to Niger Republic

OmoGomesIlorin:


Don't scare yourself with the national debt. the US for example is owing more that its reserve,

You still dont get it...it will be deducted if there is a default...imagine goldman and others taking 15bn out ....its scary..

Kukutente23:

What's your point?
That it was $3bn in 2015 as well and PDP covered it up?
Remind me when CBN stopped publishing its account.

My point is very clear, if you want to compare, use the same source.

safarigirl:


Country wey dem suppose put up for sale on Ali Baba, na wetin person wan fight for smelling mandate.

Peter Obi should withdraw that petition and go and sleep, let the people that have ruined the country continue to ruin it until the idiots that let it happen have sense.

No need to withdraw,the petition was stillbirthed

seunmsg:


My point is very clear, if you want to compare, use the same source.

Your point is dubious. The same source published its accounts in 2015 while it started hiding it in 2016 a year after the locust called APC took over.
You should know the implication of that before comparing apples to oranges

worksmart:
What other country allows a foreign company to tell them how much foreign reserve they have?
The aeeogance of JP Morgan to believe it knows better than our own CBN.
Nonsense!

Me thinks Tinubu conspiring with jP to loot our reserves.

Tinubu is a virus.

jp morgan is holding your foreing reserve. It means they are actually telling you your bank balance.

EyeCumInPiss:
If e like make e be 338billion.
What matters to the common man is better life and not the amount of billions in foreign reserve.

You don't even know what foreign reserve is or what it's used for ffs.
All the food and stuffs being imported to Nigeria, what do you think is being used to buy them

Some people sha

Where did you learn that JP Morgan is holding all our foreign reserve? Iam no expert but I am sure that would be impossible.

jesmond3945:
jp morgan is holding your foreing reserve. It means they are actually telling you your bank balance.

https://thenationonlineng.net/nigerias-reserve-is-3-7b-not-33-8b-says-jp-morgan/[/quote]


JP Morgan got it wrong

JP Morgan published an article on 17th August 2023, in which it estimates that Nigeria's net foreign exchange (FX) reserves is actually $3.7 bn, as opposed to $37 bn as stated in CBN's 2022 financial statements (FS).

I believe JP Morgan's estimate is inaccurate for the following reasons:

1. Reserves are assets: The whole exercise of netting of some liabilities from reserves can be misleading to non-accountants and finance people becuase it gives the impression that it is some sort of retained earnings or profits. In reality, reserves consists of gold, currencies and other securities - not retained earnings meant to be adjusted with liabilities.

2. Liabilities vs Commitment: The primary reason for the low reserve estimate is because JP Morgan deducted currency swaps valued at $21 bn from the reserve figure. This approach is not tenable because the swaps are listed as commitments in the financial statements and not liabilities - which is why they are not even in the CBN's balance sheet.

A liability refers to an obligation that an entity owes to external parties, while a commitment, is a potential obligation that arises from an existing contract but may not yet meet all the criteria to be recognized as a liability - which is the situation here. Even though commitments may eventually become liabilities, I do not think it's right to treat them as such when the CBN did not put them in its balance sheet, and clearly stated it as a commitment. Swap accounting can be tricky like that. Even if we say they are liabilities, my first point already states why deducting them from reserves may be misleading.

In summary, I feel JP Morgan's conclusion is more sensational than substance driven, without taking into proper consideration the correct accounting treatment for the currency swaps it deducted.

We see corporate finance people make these simple accounting mistakes sometimes in the name of valuation: on behalf of all accountants, we forgive you😃

Babatunde Akin-Moses.

worksmart:
Where did you learn that JP Morgan is holding all our foreign reserve? Iam no expert but I am sure that would be impossible.

please read and understand how foreign reserves work

Explain it to me here.

jesmond3945:
please read and understand how foreign reserves work

2pacarnate:


Truth hurts

Sorry bro,all agbado defenders and fullbacks and CDM have all left the WhatsApp group chat as usual,I have been saying this before,obi should forget about this country,it is gone,and it will be on record that yorubas and hausas destroyed this country,I laugh when they say igbos will.never rule this country,it's not a curse,it's actually a blessing that we never ruled,posterity will remember us I'm good faith for that

Anyways

TRUTH HURTS 👍

but the while Igbo land is a shithole

EyeCumInPiss:
If e like make e be 338billion.
What matters to the common man is better life and not the amount of billions in foreign reserve.

You don't know what you are saying if you think this doesn't affect the poor man.

Buhari messed. It's high time Buhari they started putting some open blames on Buhari for his atrocities.

Programmed zombies have frothed this thread to death with their epileptic saliva due to frustration in their lives.

This is an indictment on all of you zombies who are too dumb to source information on your own. I have said it here that the foreign reserves is depleted and the excess crude account is empty. You people are too braindead to know that the information on CBN website hasn't been updated by a 2 months old administration which cabinet is just taking shape and all the numbers will take time to come in.

Why would president Tinubu meet $3 billion and claim he met $33 billion and how is he going to find the rest of the $30 billion? But because hate has replaced all your eyeballs you can't see or hear anything else.

How convenient that no one mentioned Emefiele who is responsible for all of these?

Even if Nigeria gets better you people who made the first 8 comments and those of you who like them will continue to struggle, you will never make any headway because nature demands truth and honesty but all you will attract in your miserable lives are lies and deceits, since that's what you put out!

ijustdey:


https://thenationonlineng.net/nigerias-reserve-is-3-7b-not-33-8b-says-jp-morgan/

What happened to the money? We are in serious problem?

If Obi does not forget it, who is going to hand him even a dead Nigeria?

You already know that Peter Obi has no chance in this life and another life to be president of Nigeria no matter what.

2pacarnate:


Truth hurts

Sorry bro,all agbado defenders and fullbacks and CDM have all left the WhatsApp group chat as usual,I have been saying this before,obi should forget about this country,it is gone,and it will be on record that yorubas and hausas destroyed this country,I laugh when they say igbos will.never rule this country,it's not a curse,it's actually a blessing that we never ruled,posterity will remember us I'm good faith for that

Anyways

TRUTH HURTS 👍

What you need is to check yourself into a hospital and take your fellow mad dogs with you.

Emefiele or elemi efele is the one responsible for wiping out Nigeria's Foreign Reserve and screwing your life up

MrEverest:
End Ebola pandemic now before he ends Nigeria!!!

This country is going down everyday and if Ebola pandemic is not removed by any means necessary, Nigeria may not survive!!!

Thiefnubuuuùu

GoodLife4live:
but the while Igbo land is a shithole

Oga,there is village in all the sad wastern states that is close in beauty to compare with my kindred,am not even talking about south east states,my state,or my town,am from imo state,nwangele LGA,my town is called amaigbo,in my town I come from the part called umueze.Now from Owerri is 45 minutes drive to my village.....sorry to hurt your feelings,but I will drive on tad road and solar street lights from that Owerri to till I enter my village father's compound.That umueze is like GRA,our first daughters just mounted solar street lights everywhere,

Never you in your life compare Yoruba villages with igbo village's let alone states,igbos have the best developed villages(rural areas in Nigeria,do you think we travel every Xmas to depleted homes?oga na mansions everywhere,

If you doubt me paste your number or Gmail on your profile let me send you the video of my village,that's if you won't call it fake video,normal yoruba mentality