Topic: Better CBN governor (Read 131 times)

Is good that cardoso is working about the dollar so that our Naira can definitely get value and where seeing some of the changes. Because when the Dollar was around 1500 to 180 to be honest many of people's suffering in the country due to how the cost of goods high, bo all people's have money to afford the price. But still the work of cardoso is not yet finished, because of we look at the dollar rate currently now is around 1117 to 120 and as of yesterday is around 1000.

And up to now the price of goods still never comes down the way they am before and that's is only complain that the market was making before that they don't the right to bring down of the accept the dollar come down. And after the dollar have come down now they pretend to consider the leaders that till they sell the former one finish if not be selfishness interest. About emefiele and cardoso they're is defferences between them we can compare them together, because during emefiele periods it has put us in very hard time.

Since Cardoso just newly resume office in this new administration, and he has fought dollar $1 to #1000 naira and he has started bringing some people abusing naira to judgment, show that before he will spend the years Emefiele spend during the past government, I guess Cardoso will be the best CBN governor.

I don't think Nigeria will forget easily, what Emefiele did to them during cashless policy that made many businesses closed by force without solution, many people loss their love ones in the hospital because there was no network to carry out transaction before the doctor or nurse can start operation.

I know you will not like what Cardoso is doing, to make our naira get value again because you are benefiting from dollar and other people in the country are suffering for the high cost of living in the country.

 I try understand wetin @CharlesTim bin yarn as regards inflation but I get question to ask; how we fit say we dey progress if the naira dey appreciate against the dollar yet things still dey choke for market? We dey do comparison between Emefiele and Cardaso as to who beta pass, for me I'd say no one because all still be pawns of the government. For now, pipo dey rejoice say naira to dollar dey drop but no know say in other to meet up with how things cost, more naira go need to dey printed, thereby causing inflation. We know say during Emefiele tym things bin rough, wetin we wan talk for Cardaso time now? When you check how you bin dey buy things in 2014 during Johnathan time wey Emefiele bin governor of CBN to now wey Micheal Cardaso don enter wey Tinubu be president for 2023, you sef go check am and do the math.
 

What kind of comparison is this buddy. Emefiele, before the end of his tenure, became a politician and abandoned his job for politics yet the president at that time didn't find it meriting enough to sack him from his office. To the extent he was contesting for the president of the Federal Republic of Nigeria as the Governor of CBN. I don't know if that's not against their code of conducts and ethics, but it's absolutely unusual and unacceptable for someone holding such position.

What I was expecting from the then president was to invite the CBN governor to the villa and confirm his ambitions and if it was true, which it was, then he's to be replaced immediately. But that didn't happen instead, they went ahead to implement the naira redesign together, a decision we are still suffering today.

Truth is, Emefiele has caused us many hard times than good and his tenure as the CBN governor won't be easily forgotten by contemporary Nigerians over the hardships we've faced.

My people the two of them Na the same ,  Cardoso increasing naira value make we ask ourselves, when the value of naira been dey go down he was in office, so I no see am as any good, because under his watch the value of naira to dollar went up to almost 2k,  so waiting they happen now Na correction of their own mistakes wey been decrease the value of naira against dollar, so for now all of them they the same untill we get better economic growth then we fit now who better or who worse,  even the president and ministers they involved not only CBN governor,
The naira design wey emefiele do Na because of elections and he didn't do that on his own , he was acting under the directives of the then president Buhari so Na why I say even the presidents they involved.

You seem to know what the point is, because for sometime I also thought that it isn't really clear if we are experiencing a recession or inflation in the country.
The financial issues may be much more, because we don't even still have enough fiat notes in circulation to speak and so many policies with loopholes being exploited still exist that am sure the CBN governor either claims not to know or doesn't really.

I gave similar explanation here: Nigeria FX reserve dips by nearly $2M. I think you will be able to understand better if you read it.

I don't really get everything you are saying because it's quite confusing, what are you basically saying in essence of everything that has been going on with the recent gain on the naira against the dollar. So are you saying everything that the current CBN is doing is just a mirage and that they actually don't know the financial issues of Nigeria?

Let us starts from what is inflation? Inflation is the persistent rise in the price of goods and services. Also another definition of inflation is the declination of money value. So Inflation is the persistent rise in the price of goods and services, leading to declination of money value.  The money is devalued to create a balance so that both local and imported products sellers are going to make profit in a way that everybody will gain. Also the government foreign reserve will not be decreasing and also the government having more capabilities to pay workers etc. So is Cardoso educated as inflation increases but increasing naira value? He turned the definition of inflation upsidedown by increasing the value of naira when inflation in Nigeria increases.

You mean the official rate and the parallel market rate? The official rate stayed long around ₦465 when the parallel rate was around ₦750.  The CBN later make the move of exchange rate unification and the official rate increased to around ₦750 and it got very close to the parallel market. There was no problem like this at the time after the unification. Although, the parallel market later increased more again. But the government are to be blamed for not able to make the rate less volatile. The government manipulated because later the official rate also was increasing as the parallel rate was increasing but they are saying Binance manipulated. They only tell you what they want you to believe.

I'm choosing the current governor over the former one 10 times. Even though I'm blindfolded, I'll still choose Cardoso. Emefiele was one of the hated governor due to his recalcitrant and adamant behavior towards the economy, he made things tough for Nigerians during election period, though I understand the point he was trying to proof and finally got what he deserved. The current CBN governor, Mr. Olayemi Cardoso have done a great job in reinforcing the appreciation of naira against the Dollar currency and we Nigerians have acknowledged this particular good work.

Don't be confused. However, me I no dey here to compare the two but we go know say politics na something wey be say interest is the key factor to where you go put your head. During the tail end of buhari administration, we no fit really explain wetin government want or do or try to achieve as aim and objective wey make Nigerians no understand and till today it is still political and difficult to really give explanation on wetin dey buhari mind or emefiele.

So now if you get the right things done by pushing out dollar wey you pack keep for house and paying up backlog of dollars then you go expect say Naira go dey appreciate. Moreover, when buhari comot, official rate na around 440 naira per dollar and BDS na around 750 to $.

Emefiele or Cardoso. Who is the best CBN governor?

Nigerians were complaining of naira redesign but inflation this time with dollar value decreasing. This has not happened before in history of Nigeria.

There is inflation but CBN Cardoso is increasing naira value.

Is Cardoso educated? I am confused.