NSE All Share Index

Register     Disclaimer     Contact Us     About Us

  • Re: Economicwatch Post #286420
    Posted at: 7:14 pm, 30th Sep 2016
    by Babs_O. SMN . Joined: 11th December 2007. Thanked 44 times.

    Oracle;286404 wrote:
    For where? If oil price hovers between $60 -$70 before Christmas, then by end of Q1 2017, the rates at which exchange rate is going for now will to drop below N240=$1.

    Don't say you heard, say I said!!!:D:D

    NEWS *|* Niger Delta Avengers Blow Up Bonny Crude Line *|* Rigzone

    Amen to exchange rate drop below N 240


    The govt need to start acting wisely regarding the ND if it is to reap benefits of increased oil price. And sell whatever stake they have in National Assets that only acts as bottlenecks. Like the Federal govt need to sell every stake in Lagos EPZ to allow free inflow of FDI $'s needed to complete its development. But Assets like Bonny NLNG should be no go area as it is a cash cow requiring no further investment from the government. But rather streams in money. Rather government should attract investments into new NLNG like Brass NLNG through 100% equity of private investors.


  • Re: Economicwatch Post #286419
    Posted at: 6:38 pm, 30th Sep 2016
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 299 times.


  • Re: Economicwatch Post #286418
    Posted at: 6:36 pm, 30th Sep 2016
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 299 times.

    .yomikuri;286413 wrote:
    thats what u people told us before: if they devalue to 250- 300 naira every thing will stabilize. Now u are looking for 1000, when they devalue to 1000naira u will be asking for 2,000naira. Simply because ur one leg is in yankee, haba! which way nigeria?. Has zimbabwe recovered all dis while?
    aysok1;286414 wrote:
    Devaluation is done to a new peg, based on specific assumptions and metrics. However, float in a simplistic form, is based on barganing power, demand and supply forces etc. Float is not a new peg rate, neither is it controlled. It's like buying a product on Amazon or Jumia. If it's costly to you, you sort yurself out with alternative.

    What i asked isn't really correlated to your response.

    The deception from the CBN as to the loath(PERCEIVED FLOAT) is a topic for the State of the Nation thread. That should nicely draw the response above.

    There is no need to talk too much. There would soon be a crippling fuel scarcity which would lead to another round of devaluation and increase in pump price.

    Economies dont obey executive fiat or CBN orders. Devaluation is not a choice, it's an inevitability. The choice available to us is how best to profit from it.


  • Re: Economicwatch Post #286417
    Posted at: 6:33 pm, 30th Sep 2016
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 299 times.

    aysok1;286411 wrote:
    If the Naira is allowed to float in the true sense(without the elementrary manipulations from the CBN) and it devalues to 1000 to the 1$. Will it not bode well for the economy, such that it heals and get back up quickly than what we currently have?

    Note: I acknowledge 1000naira to the $ is a huge pain to swallow.

    You clearly have no idea the kind of economic anomalies the currency shortages are causing. Lack of FX is causing people to lose jobs and that is what is killing the economy.

    Exchange rate is only deterrent to imports, shortage of dollars is what kills businesses!


  • Re: Economicwatch Post #286416
    Posted at: 6:30 pm, 30th Sep 2016
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 299 times.

    Oracle;286404 wrote:
    For where? If oil price hovers between $60 -$70 before Christmas, then by end of Q1 2017, the rates at which exchange rate is going for now will drop to N240=$1.

    Don't say you heard, say I said!!!:D:D

    The price of a commodity reflects market participants views of ALL factors affecting the demand and supply of that commodity. This means that the current price of oil takes into account the ongoing supply disruptions in the Niger Delta. If the government manages to curtail that, the reduction of that risk will mean a reduction in price.

    I am betting against the Naira and will continue to do so.


  • Re: Economicwatch Post #286415
    Posted at: 6:26 pm, 30th Sep 2016
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 299 times.

    Waves;286398 wrote:
    So if a PFI manager from Canary Warf buys shares of GT Bank from me on the floor of the NSE, the money represents new capital that GT Bank can use to expand or lend?

    In the transaction you just defined the the canary wharf investor bought your share, he provided the liquidity for you to cash out of the investment. The money he provided did not go to GTB but to you. You are the one who raised capital from canary wharf not GTB, the question should be, how do you invest that money you raised. You can come and buy some of my yams or my moringa and give me the liquidity to expand or you can buy a new Rolls Royce and ship the money back to the UK. However in shipping the money to the UK there should be mechanisms in place to ensure that your consumption is taxed appropriately so at least some of that money stays behind.

    The fear of the free market is the root cause of all our problems in this country. It's not about to change so I use it to my advantage.


  • Re: Economicwatch Post #286414
    Posted at: 5:18 pm, 30th Sep 2016
    by aysok1. SMN . Joined: 23rd June 2008. Thanked 15 times.

    .yomikuri;286413 wrote:
    thats what u people told us before: if they devalue to 250- 300 naira every thing will stabilize. Now u are looking for 1000, when they devalue to 1000naira u will be asking for 2,000naira. Simply because ur one leg is in yankee, haba! which way nigeria?. Has zimbabwe recovered all dis while?

    Devaluation is done to a new peg, based on specific assumptions and metrics. However, float in a simplistic form, is based on barganing power, demand and supply forces etc. Float is not a new peg rate, neither is it controlled. It's like buying a product on Amazon or Jumia. If it's costly to you, you sort yurself out with alternative.

    What i asked isn't really correlated to your response.

    The deception from the CBN as to the loath(PERCEIVED FLOAT) is a topic for the State of the Nation thread. That should nicely draw the response above.


  • Re: Economicwatch Post #286413
    Posted at: 4:53 pm, 30th Sep 2016
    by .yomikuri. SMN . Joined: 2nd May 2015. Thanked 1 times.

    aysok1;286411 wrote:
    If the Naira is allowed to float in the true sense(without the elementrary manipulations from the CBN) and it devalues to 1000 to the 1$. Will it not bode well for the economy, such that it heals and get back up quickly than what we currently have?

    Note: I acknowledge 1000naira to the $ is a huge pain to swallow.
    thats what u people told us before: if they devalue to 250- 300 naira every thing will stabilize. Now u are looking for 1000, when they devalue to 1000naira u will be asking for 2,000naira. Simply because ur one leg is in yankee, haba! which way nigeria?. Has zimbabwe recovered all dis while?


  • Re: Economicwatch Post #286412
    Posted at: 3:29 pm, 30th Sep 2016
    by duduspace. SMN . Joined: 13th February 2007. Thanked 336 times.

    Oracle;286404 wrote:
    For where? If oil price hovers between $60 -$70 before Christmas, then by end of Q1 2017, the rates at which exchange rate is going for now will drop to N240=$1.

    Don't say you heard, say I said!!!:D:D

    The turn around shall come like a thief in the night. E be like say na the eroding of the reserves dey give some people chest to dey speculate.
    The one wey do dem around march nor dey enough.


  • Re: Economicwatch Post #286411
    Posted at: 3:17 pm, 30th Sep 2016
    by aysok1. SMN . Joined: 23rd June 2008. Thanked 15 times.

    dupeodus;286408 wrote:
    Another madness. The focus of the cbn on the exchange rate of the naira is killing the Nigerian economy. This is the way I see the situation. You have high fever. Your internal temperature is 100 degree centigrade. You are however fixing your thermometer so that it does not read higher than 70 degree centigrade and you are managing the high fever according to what the thermometernal reads.

    If the Naira is allowed to float in the true sense(without the elementrary manipulations from the CBN) and it devalues to 1000 to the 1$. Will it not bode well for the economy, such that it heals and get back up quickly than what we currently have?

    Note: I acknowledge 1000naira to the $ is a huge pain to swallow.


  • Re: Economicwatch Post #286410
    Posted at: 3:06 pm, 30th Sep 2016
    by oyo. SMN . Joined: 6th January 2013. Thanked 82 times.

    PETERICHY;286406 wrote:
    USD tested N495 today,
    what will happen next, Is it will drop then gather momentum to break through the #500 resistance point. :)

    *ThE OcToPuS*


    Still wondering why someone on SMN is not yet worrying that his N400 barrier had been breached.:o


  • Re: State of the Nation Post #286409
    Posted at: 3:02 pm, 30th Sep 2016
    by oyo. SMN . Joined: 6th January 2013. Thanked 82 times.

    migiets;286400 wrote:
    The present Edo state is made up of three distinct entities. The Binis in the South, the Ishan(Esan) in the Central and the Afemais in the North. Edo South account for about 55% of the voting population, Edo North is about 25% while Edo Central is about 20%. At the advert of this democracy, Mike Akhigbe wanted Edo North who had never produce an elected Governor to produce the Governor of Edo state but the Binis made a strong case that it was their turn because while the Ishan had their turn in Ambrose Alli, theirs in the person of Sam Ogbemudia and Oyegun were truncated. So, the position went to the Binis in the person of Lucky Igbinedion with Edo North producing the Deputy in the person of Mike Ogiadomhe with the understanding that after the Binis in Lucky Igbinedion, it moves to Edo North. Trust politicians never to keep to a gentleman’s agreement. After Lucky Igbinedion 8 years, the PDP ticket was given to the Ishans with the influence of Anenni and Late Stella Obasanjo. OBJ wanted Julius Ihobvhere from Edo North. This angered the Edo North people and they massively decamped to Action Congress(AC) and when the popular Adams from Edo North came into the picture with the LP ticket, he was persuaded to move to AC which was a bigger platform, by the Edo North people. Nobody knew why Lucky Igbinedion put his structures and backing at the deposal of AC Adams instead of PDP Osunbor. Maybe, he wanted to still fulfill the gentleman’s agreement of Edo North getting the slot. Adams massively won in Edo North and shared the votes of Edo South. The PDP had to massively inflate the figures of Edo Central to win the election and by the time Adams challenged the Edo Central figures, the inflated figures were deducted and he was declared the winner by the courts.

    After the 8 years monumental failure of Lucky Igbinedion government, the Binis wanted the position back after Adams. Ordinarily, for the sake of equity, it was the turn of Edo Central(Ishans) but politics not being mathematics means that the party that gives the ticket to the Binis stood a bigger chance of winning. So, APC and PDP both went for a Bini candidate. Edo North is a stronghold of APC because of Adams and the Edo North people now see him as the political figure they have been craving for all these years. The Binis had the likes of Ogbemudia and Igbinedion(father of Lucky Igbinedion) while the Ishans had the likes of Anenni and Ikimi and so were always able to call the shorts. Edo Central is the stronghold of PDP. So the decider was Edo South(Binis). Adams ensured he pacified the Binis and made them forget their loss during the Lucky Igbinedion incompetent years by massively developing Benin during his first term.

    PDP went for a Bini candidate with an Ishan Deputy while APC went for a Bini candidate with an Edo North Deputy. Maybe APC decided against giving the Deputy slot to Ishan because it might not really sway their votes to APC given the presence of PDP Anenni and Ikimi. The potential loss in votes there can easily be made up with that from Edo North which has a bigger voting population than Edo Central. Moreover, Adams late wife is from Ishan(Igueben) and so sentiments can favour him there.

    Looking at the LGA result breakdown, it can be seen that APC won all the LGAs in their Edo North(Akoko-Edo LGA, Etsako West, Etsako East, Etsako Cenral, Owan East LGA, Owan West LGA) stronghold while PDP won 4 out of the 5 LGAs in their Edo Central(Esan North Central, Esan West LGA, Esan South East LGA, Esan North East LGA) stronghold . The only Edo Central LGA won by APC is Igueben LGA which is the home of Adam’s late wife.

    The battle became Edo South which is home to the Binis with Ovia(Ovia North East and Ovia South West) being the home of the Igbinedions who are the principal backers of the PDP candidate. The PDP candidate held the position of SSG and COS to Lucky Igbinedion. APC won all but one of the LGAs in Edo South. The big question was ‘Did the Binis want to stick with Adams or go back to the house of Igbinedion’?. I cannot answer this question as iam not from that axis. It will be apt to note that few days to the election, the revered and well respected Sam Ogbemudia endorsed Obaseki, the APC candidate.

    The big plus for APC prior to the election was for being able to manage the fallouts of the primary election. There was so much expectation that the APC primaries will produce so much rancor especially with Adam’s current Deputy, Odubu who wanted to take over from him not being anointed but insisted on contesting the primaries which he lost. None of the aspirants that lost decamped to pick the ticket of other parties.

    PDP has alleged that their candidate Ize-Iyamu won the election based on feedbacks from collations from their agents at the various polling units. So, we have to wait for the courts.


    You can say the bolded again......that was how, back in the day, he crashed his Liman Bravo mortgage bank at Palmgrove, Ikorodu road, Lagos. :mad:


    Good write-up on the Edo political intrigues.:)


  • Re: Economicwatch Post #286408
    Posted at: 2:36 pm, 30th Sep 2016
    by dupeodus. SMN . Joined: 15th November 2012. Thanked 94 times.

    waaan5;286385 wrote:
    CBN to sell FX direct to BDCs as dollar hits N465 - Daily Trust - abokiFX

    who was I telling this will eventually happen, some moons ago? :)
    Another madness. The focus of the cbn on the exchange rate of the naira is killing the Nigerian economy. This is the way I see the situation. You have high fever. Your internal temperature is 100 degree centigrade. You are however fixing your thermometer so that it does not read higher than 70 degree centigrade and you are managing the high fever according to what the thermometernal reads.


  • Re: Economicwatch Post #286407
    Posted at: 2:27 pm, 30th Sep 2016
    by Waves. SMN . Joined: 12th March 2009. Thanked 266 times.


  • Re: Economicwatch Post #286406
    Posted at: 2:20 pm, 30th Sep 2016
    by PETERICHY. SMN . Joined: 16th January 2013. Thanked 59 times.

    USD tested N495 today,
    what will happen next, Is it will drop then gather momentum to break through the #500 resistance point. :)

    *ThE OcToPuS*


  • Re: Economicwatch Post #286405
    Posted at: 2:12 pm, 30th Sep 2016
    by dupeodus. SMN . Joined: 15th November 2012. Thanked 94 times.

    Oracle;286403 wrote:
    It all depends if you have an account in GT Bank and what your intentions at that moment was. If you account was in GT bank, you could transfer from the stock account to your GT bank and keep it there. Since you may have sold high ( presumably) and if you don't have interest to buy till price falls, you will either keep it in the fixed deposit or other products the bank offers. This way that money from Canary Wharf is finding its way back into the bank for lending or for bank's use.:D:D

    But the ''if'' go many sha!!!
    Sir Oracle. I have to respectfully say that you are wrong here. The sale of GT shares by a shareholder of GT to another does not have any direct impact on the quantum of capital available to GT. What could affect the Capital of GT indirectly is the aggregate demand for the shares of GT. If the aggregate demand is high, the share price of GT will appreciate and this will have an indirect impact on the cost of capital of GT in that GT will be able to raise additional capital from new or existing shareholders at lower costs. GT gets nothing from trading in its shares.


  • Re: Economicwatch Post #286404
    Posted at: 12:17 pm, 30th Sep 2016
    by Oracle. SMN Forum Moderator. Joined: 19th May 2010. Thanked 456 times.

    nosa2;286392 wrote:
    All these people saying N500 don't seem to get it. We will go thru N1000 like a hot knife thru butter.

    For where? If oil price hovers between $60 -$70 before Christmas, then by end of Q1 2017, the rates at which exchange rate is going for now will drop to N240=$1.

    Don't say you heard, say I said!!!:D:D


  • Re: Economicwatch Post #286403
    Posted at: 12:11 pm, 30th Sep 2016
    by Oracle. SMN Forum Moderator. Joined: 19th May 2010. Thanked 456 times.

    Waves;286398 wrote:
    So if a PFI manager from Canary Warf buys shares of GT Bank from me on the floor of the NSE, the money represents new capital that GT Bank can use to expand or lend?

    It all depends if you have an account in GT Bank and what your intentions at that moment was. If you account was in GT bank, you could transfer from the stock account to your GT bank and keep it there. Since you may have sold high ( presumably) and if you don't have interest to buy till price falls, you will either keep it in the fixed deposit or other products the bank offers. This way that money from Canary Wharf is finding its way back into the bank for lending or for bank's use.:D:D

    But the ''if'' go many sha!!!


  • Re: State of the Nation Post #286402
    Posted at: 11:43 am, 30th Sep 2016
    by migiets. SMN . Joined: 1st March 2008. Thanked 307 times.

    oyo;286397 wrote:
    [/B]


    Truly Afemai is in this contraption for what she can get:bandit:

    Don't you know that politics is about interest?. Anyway, make we wait to see if we can get Osho Baba after his exit to put pressure on the FG to complete the Benin-Auchi road dualization. Adam's village is on the Abuja-Lokoja-Okene-Auchi section which is also being dualized. :driver:


  • Re: Economicwatch Post #286401
    Posted at: 11:40 am, 30th Sep 2016
    by horlads. SMN . Joined: 8th July 2009. Thanked 288 times.

    Waves;286399 wrote:
    Here.....
    God bless BudgIT. I have always maintained that we need to export more services. It is the largest contributor to GDP and it contributes a small portion to dollar inflows.

    This anomaly needs to be corrected IMO.

    And looking at the $$ inflow against the $$ outflow figures, I believe it is now seen that the financial institutions were just doing what they had to do. FPIs and FDIs come through them. They also have to repatriate profits and possibly capital (for FPIs) through them.


  • Re: State of the Nation Post #286400
    Posted at: 11:39 am, 30th Sep 2016
    by migiets. SMN . Joined: 1st March 2008. Thanked 307 times.

    duduspace;286368 wrote:
    Congratulations to the people of Edo. Hopefully there shall be peace and that they've elected a governmemt that will answer to them while pursuing their hopes and aspirations of peace and prosperity.
    Also, I hope those who rejoiced over the Bayelsa governorship and Rivers rerun results will also rejoice and congratulate the winners of this election. :D
    In the interim, I await Oga Migi's analysis of how this election was won and lost and if the current allegations of rigging are valid enough to significantly swing the outcome of this election. We are still largely bad losers in Nigeria when it comes to democracy and elections.

    The present Edo state is made up of three distinct entities. The Binis in the South, the Ishan(Esan) in the Central and the Afemais in the North. Edo South account for about 55% of the voting population, Edo North is about 25% while Edo Central is about 20%. At the advert of this democracy, Mike Akhigbe wanted Edo North who had never produce an elected Governor to produce the Governor of Edo state but the Binis made a strong case that it was their turn because while the Ishan had their turn in Ambrose Alli, theirs in the person of Sam Ogbemudia and Oyegun were truncated. So, the position went to the Binis in the person of Lucky Igbinedion with Edo North producing the Deputy in the person of Mike Ogiadomhe with the understanding that after the Binis in Lucky Igbinedion, it moves to Edo North. Trust politicians never to keep to a gentleman’s agreement. After Lucky Igbinedion 8 years, the PDP ticket was given to the Ishans with the influence of Anenni and Late Stella Obasanjo. OBJ wanted Julius Ihobvhere from Edo North. This angered the Edo North people and they massively decamped to Action Congress(AC) and when the popular Adams from Edo North came into the picture with the LP ticket, he was persuaded to move to AC which was a bigger platform, by the Edo North people. Nobody knew why Lucky Igbinedion put his structures and backing at the deposal of AC Adams instead of PDP Osunbor. Maybe, he wanted to still fulfill the gentleman’s agreement of Edo North getting the slot. Adams massively won in Edo North and shared the votes of Edo South. The PDP had to massively inflate the figures of Edo Central to win the election and by the time Adams challenged the Edo Central figures, the inflated figures were deducted and he was declared the winner by the courts.

    After the 8 years monumental failure of Lucky Igbinedion government, the Binis wanted the position back after Adams. Ordinarily, for the sake of equity, it was the turn of Edo Central(Ishans) but politics not being mathematics means that the party that gives the ticket to the Binis stood a bigger chance of winning. So, APC and PDP both went for a Bini candidate. Edo North is a stronghold of APC because of Adams and the Edo North people now see him as the political figure they have been craving for all these years. The Binis had the likes of Ogbemudia and Igbinedion(father of Lucky Igbinedion) while the Ishans had the likes of Anenni and Ikimi and so were always able to call the shorts. Edo Central is the stronghold of PDP. So the decider was Edo South(Binis). Adams ensured he pacified the Binis and made them forget their loss during the Lucky Igbinedion incompetent years by massively developing Benin during his first term.

    PDP went for a Bini candidate with an Ishan Deputy while APC went for a Bini candidate with an Edo North Deputy. Maybe APC decided against giving the Deputy slot to Ishan because it might not really sway their votes to APC given the presence of PDP Anenni and Ikimi. The potential loss in votes there can easily be made up with that from Edo North which has a bigger voting population than Edo Central. Moreover, Adams late wife is from Ishan(Igueben) and so sentiments can favour him there.

    Looking at the LGA result breakdown, it can be seen that APC won all the LGAs in their Edo North(Akoko-Edo LGA, Etsako West, Etsako East, Etsako Cenral, Owan East LGA, Owan West LGA) stronghold while PDP won 4 out of the 5 LGAs in their Edo Central(Esan North Central, Esan West LGA, Esan South East LGA, Esan North East LGA) stronghold . The only Edo Central LGA won by APC is Igueben LGA which is the home of Adam’s late wife.

    The battle became Edo South which is home to the Binis with Ovia(Ovia North East and Ovia South West) being the home of the Igbinedions who are the principal backers of the PDP candidate. The PDP candidate held the position of SSG and COS to Lucky Igbinedion. APC won all but one of the LGAs in Edo South. The big question was ‘Did the Binis want to stick with Adams or go back to the house of Igbinedion’?. I cannot answer this question as iam not from that axis. It will be apt to note that few days to the election, the revered and well respected Sam Ogbemudia endorsed Obaseki, the APC candidate.

    The big plus for APC prior to the election was for being able to manage the fallouts of the primary election. There was so much expectation that the APC primaries will produce so much rancor especially with Adam’s current Deputy, Odubu who wanted to take over from him not being anointed but insisted on contesting the primaries which he lost. None of the aspirants that lost decamped to pick the ticket of other parties.

    PDP has alleged that their candidate Ize-Iyamu won the election based on feedbacks from collations from their agents at the various polling units. So, we have to wait for the courts.


  • Re: Economicwatch Post #286399
    Posted at: 11:29 am, 30th Sep 2016
    by Waves. SMN . Joined: 12th March 2009. Thanked 266 times.

    Here.....


  • Re: Economicwatch Post #286398
    Posted at: 11:25 am, 30th Sep 2016
    by Waves. SMN . Joined: 12th March 2009. Thanked 266 times.

    nosa2;286394 wrote:
    Bros na you no get the full picture oh. If you factor in the amount of FX MTN has brought in indirectly via increased economic activity and efficiency then you will see that they have been a net positive.

    All this talk of FDI and FPI is childish economics. FPI's invest in Nigerian securities, securities are a means for entities to raise much needed capital. If capital is deployed efficiently it is always a net positive to the economy. So the question is, are the entities raising capital deploying it efficiently? When it comes to government securities who do we hold liable for the stupid decisions?

    The problem we have in Nigeria is that saboteurs like Eniyanman and other pro subsidy advocates have not yet been identified as the root of our problem. We raise money to subsidize imported consumption then we turn around and wonder why we are poor.

    Anyway as the spiral keeps heading downwards I keep betting against the madness. At the end of the day make we see who go suffer.

    So if a PFI manager from Canary Warf buys shares of GT Bank from me on the floor of the NSE, the money represents new capital that GT Bank can use to expand or lend?


  • Re: State of the Nation Post #286397
    Posted at: 10:42 am, 30th Sep 2016
    by oyo. SMN . Joined: 6th January 2013. Thanked 82 times.

    migiets;286391 wrote:
    Thank you Oga Dudu. This is what an election result should be. A margin of about 11%. It shows the two parties are on ground the three(3) Senatorial districts which is good for democracy. A very good election despite the fear of violence. Massive turnout and very peaceful. Watch out for my analysis later which will also contain a brief background. Though they are allegations of rigging, i do not think they can hold water even in Supreme court.

    @MissedOpportunities. Osho baba(Etsako Division) is from Afemai kingdom and is out-going while the in-coming Deputy Governor(Etsako division) is from Afemai kingdom. As for me, iam from Afemai (Etsako division). :D



    Truly Afemai is in this contraption for what she can get:bandit:


  • Re: Economicwatch Post #286396
    Posted at: 10:37 am, 30th Sep 2016
    by oyo. SMN . Joined: 6th January 2013. Thanked 82 times.

    nosa2;286394 wrote:
    Bros na you no get the full picture oh. If you factor in the amount of FX MTN has brought in indirectly via increased economic activity and efficiency then you will see that they have been a net positive.

    All this talk of FDI and FPI is childish economics. FPI's invest in Nigerian securities, securities are a means for entities to raise much needed capital. If capital is deployed efficiently it is always a net positive to the economy. So the question is, are the entities raising capital deploying it efficiently? When it comes to government securities who do we hold liable for the stupid decisions?

    The problem we have in Nigeria is that saboteurs like Eniyanman and other pro subsidy advocates have not yet been identified as the root of our problem. We raise money to subsidize imported consumption then we turn around and wonder why we are poor.

    Anyway as the spiral keeps heading downwards I keep betting against the madness. At the end of the day make we see who go suffer.


    Oga Nosa,...for once, I am on the same page with you on the highlighted million dollar question........emm if the SEC were to be efficient as they should be, most capital raising in the securities market were, if investigated, would reveal massive public fraud punishable under the law. But, alas, such fraudsters are walking free and errorneously regarded as industry big wigs:mad:


Forum threads