NewStats: 3,261,674 , 8,174,729 topics. Date: Friday, 30 May 2025 at 04:47 AM 531z38

Our Central bank Governor needs to go learn from his colleague in Ghana. He should understudy how he managed to bring the value of the cedis from as high as 17 to 1 to 8 to 1 today.

I think it is worthy for any Central Bank Governor in Africa to understudy this great turnaround.

Bobloco:

Cardozo must go and learn from mr Forson the Ghanaian CB Governor within 4 months serious drop of the cedis to the dollar.

It's actually not only cedis, the country is moving in the right direction.

I made a comment about it some days ago.

KnowAll:
Our Central bank Governor needs to go learn from his colleague in Ghana. He should understudy how he managed to bring the value of the cedis from as high as 17 to 1 to 8 to 1 today.

I think it is worthy for any Central Bank Governor in Africa to understudy this great turnaround.

inflation rate is already dropping in Ghana because their currency is appreciating. On the long run, the naira will also appreciate.

Ikaeniyan0:
inflation rate is already dropping in Ghana because their currency is appreciating. On the long run, the naira will also appreciate.

On the long run that we have hearing since ibb’s time. If u are doing the right thing it does not take you 6 months b4 seeing the results.

Cardozo must not be shy he should go visit his younger brother and get some hints from him. What I don’t understand in Nigeria is Cardozo is about 65 years in England he is more or less one year to retirement yet he was made CBN Governor. If you see the Ghanaian CBN Governor he is probably in his mid to late 40’s the height of a man’s dexterity can this be reason why we keep on failing.

Even our elites why send your kids to Harvard Cambridge or Oxford when u cannot even put them in positions where they would flourish. Rather we send semi retired Uncles to critical institutions.

Rufai of Arise call the CBN out.

The so called elites and the people in government in Nigeria will never want things to be better in Nigeria,can u tell me anything good these greedy, selfish people have done to better the lives of the average Nigerian?
Nothing,they will always keep the naira weak to the dollar because they derive a lot of benefits from the fall,
Only the private industry and stake holders can bring about any reduction of benefits to the ordinary Nigerian, because they know it's the people who patronizes them,but government? No way

F117nighthawk:
The so called elites and the people in government in Nigeria will never want things to be better in Nigeria,can u tell me anything good these greedy, selfish people have done to better the lives of the average Nigerian?
Nothing,they will always keep the naira weak to the dollar because they derive a lot of benefits from the fall,
Only the private industry and stake holders can bring about any reduction of benefits to the ordinary Nigerian, because they know it's the people who patronizes them,but government? No way

The truth is that they printing Naira like Idi amin. We don’t have economist in our CBN

Or why would Tinubu embark on a multi trillion Naira coastal road when he said the country was broke when he came in. Basically he just printed the naira he needed took to black market and buy dollars knowing the Naira would crash hence that is what happened.

Not that I don’t love the Lagos Calabar road I do but as at the time it was started we could not afford it.

KnowAll:


On the long run that we have hearing since ibb’s time. If u are doing the right thing it does not take you 6 months b4 seeing the results.

There's no magic that can be done on this issue. There was a lot of naira chasing the dollar under Emefiele due to different intervention by the CBN. Don't also forget the naira was intentionally devalued twice by Tinubu istration. The naira is already stabilizing, it's not falling like the first 18 month of Tinubu's istration.

KnowAll:
Our Central bank Governor needs to go learn from his colleague in Ghana. He should understudy how he managed to bring the value of the cedis from as high as 17 to 1 to 8 to 1 today.

I think it is worthy for any Central Bank Governor in Africa to understudy this great turnaround.

You actually think any central bank governor can achieve that feat in four months without years and months of hard work and workable policies from predecessors. PBAT policy is rash and too direct for an unhealthy economy like ours, and cardoso can do little to Savage the situation. Blame Mr President for allowing this gross malfuctionallity called economic policies, and free this man because just like many appointees, he can't do much to Savage a damaged vessel.

Ghana cedi as at 2007 was 10000 cedis to one dollar before it was redenominated and stood at 1 cedi to 1 dollar. Imagine removing 4 zeros and some years later it depreciated to 17 cedis to 1 dollar before coming down to 8 cedis to 1 dollar.
In real , Ghana cedis is 80000 cedis to 1 dollar. There's nothing spectacular about the appreciation of the cedis.

indmix:
Ghana cedi as at 2007 was 10000 cedis to one dollar before it was redenominated and stood at 1 cedi to 1 dollar. Imagine removing 4 zeros and some years later it depreciated to 17 cedis to 1 dollar before coming down to 8 cedis to 1 dollar.
In real , Ghana cedis is 80000 cedis to 1 dollar. There's nothing spectacular about the appreciation of the cedis.

I thought so too.

indmix:
Ghana cedi as at 2007 was 10000 cedis to one dollar before it was redenominated and stood at 1 cedi to 1 dollar. Imagine removing 4 zeros and some years later it depreciated to 17 cedis to 1 dollar before coming down to 8 cedis to 1 dollar.
In real , Ghana cedis is 80000 cedis to 1 dollar. There's nothing spectacular about the appreciation of the cedis.

Ghana re-denominated/re-decimalized their currency,making it look stronger but in reality it is still weak,the same thing Soludo wanted to do as CBN governor towards the ending Obasanjo tenure before Yar'adua canceled the policy when he assumed power.

No mind them.

indmix:
Ghana cedi as at 2007 was 10000 cedis to one dollar before it was redenominated and stood at 1 cedi to 1 dollar. Imagine removing 4 zeros and some years later it depreciated to 17 cedis to 1 dollar before coming down to 8 cedis to 1 dollar.
In real , Ghana cedis is 80000 cedis to 1 dollar. There's nothing spectacular about the appreciation of the cedis.

Don't mind them, there is another thread floating around with the same sentiment.

All currencies fluctuate as Cedi is now doing.

If Cardiso redecimalises now, these same people will start screaming and shouting with the short term pain that brings.

aswani:


Don't mind them, there is another thread floating around with the same sentiment.

All currencies fluctuate as Cedi is now doing.

If Cardiso redecimalises now, these same people will start screaming and shouting with the short term pain that brings.

So what stops Cardozo from re-decimalising. What is good for the goose would surely be good for the gander.

KnowAll:


So what stops Cardozo from re-decimalising. What is good for the goose would surely be good for the gander.

He doesn't need to, it's almost a last resort and there are no guarantees.

There is both short term and medium term pain associated with it, are you ready for that?

My point anyway is that Ghana cannot be held up as a beacon of financial virtue that we Nigeria should look forward to.

Dollar to Japanese yen is 1 to 144, I know wgich of Ghana and Japan is more financially stable.

KnowAll:
Cardozo must not be shy he should go visit his younger brother and get some hints from him. What I don’t understand in Nigeria is Cardozo is about 65 years in England he is more or less one year to retirement yet he was made CBN Governor. If you see the Ghanaian CBN Governor he is probably in his mid to late 40’s the height of a man’s dexterity can this be reason why we keep on failing.

Even our elites why send your kids to Harvard Cambridge or Oxford when u cannot even put them in positions where they would flourish. Rather we send semi retired Uncles to critical institutions.

Nigeria can never attain economic stability until it fixed it's politics in ghana there's no fulani problem, segregation or marginalisation of any major ethnic group.

Mrexcell:




Nigeria can never attain economic stability until it fixed it's politics in ghana there's no fulani problem, segregation or marginalisation of any major ethnic group.

The last Fulani Governor of CBN was in 2014. Abeg oga find another excuse.

KnowAll:
Our Central bank Governor needs to go learn from his colleague in Ghana. He should understudy how he managed to bring the value of the cedis from as high as 17 to 1 to 8 to 1 today.

I think it is worthy for any Central Bank Governor in Africa to understudy this great turnaround.

You guys are not ashamed to show your ignorance in public. Is it the Central Bank governor that will reduce the value of a foreign currency? Have you ever heard of the term "balance of trade" before? I always advise you developers that anything beyond petty buying and selling you lot shouldn't be dabbling into it. It's beyond your mental capacity.

Brenbentondiaz:


You guys are not ashamed to show your ignorance in public. Is it the Central Bank governor that will reduce the value of a foreign currency? Have you ever heard of the term "balance of trade" before? I always advise you developers that anything beyond petty buying and selling you lot shouldn't be dabbling into it. It's beyond your mental capacity.

Do we have to import a lot of stuff from abroad. Once u are self sufficient and utilise local products your currency would be stable. Any wonder why Afghanistan’s currency is stronger than both the Indian and Pakistani currencies. Because Afghanistan does not need stuffs from other parts of d world in fact using indigenous mechanics they fixed all broken tanks, trucks and helicopters left behind by the US.

Obsession with western goods is our biggest albatross.