Respects and Greetings, Linda
with regards to
the parallel market exchange rate of the Nigeria Naira to the United States Dollar
which,
according to rumours,
as at today 16 November, 2023
ranges
between 1,145 Naira and 1,160 Naira to 1 Dollar
i, very frankly, believe that
Nigeria has
seasoned, tested and proven experts and professionals
.. historically and currently ..
in areas like
economics,
finance,
banking,
business,
management,
administration,
etc
and
some of these persons profile respected careers in top league world financial institutions
e.g
World Bank,
IMF ( International Monetary Fund ),
ADB ( African Development Bank ),
etc
and
that
if Nigeria can harness the capabilities of these individuals
and
direct it into sorting out
the issue of the very low rate
at which
the Naira is exchanging
to currencies like
the Britain/British Pound Sterling,
the Europe Euro and
the United States Dollar
and related matters concerning the management of the Nigeria Economy
Nigeria can resolve the issue(s) very effectively.
i also believe that these sort of issues
are best left to
persons with
the required professional, career and academic training and work experience
to sort out
as a person with no inkling as to the issues involved
but who has
much influence and much operational authority
and does not understand the issues finitely
can mess things up further
and make them much worse than they were before.
from an ordinary observer’s point of view,
it can be observed that
in real life
when there is a problem or challenge
and
the origins of the problem or challenge are traced, identified and understood
it may be possible to fashion out a solution or solutions to the problem or challenge.
relating this to the exchange rate of the Naira as at today November 16, 2023
according to rumours,
the issue can be traced back to 1989?
when
the administration told bankers,
according to rumours,
that the Nigeria Naira is too strong at around about
1 Naira = 1 US Dollar
then
and that they should set? a different exchange rate for it
and the bankers responded by setting? an exchange rate of
2 Naira = 1 US Dollar
and the administration sent it/the figures back to the bankers
and told? them not to make it less than
4 Naira = 1 US Dollar
and the bankers thereafter set a rate of
4 Naira = 1 US Dollar
and since then
the value of the Naira has been falling
lower and lower
continuously, by and large,
to the woeful levels
of
between
Naira 1,145 to Naira 1,169 = US 1 Dollar
as at today 16 November, 2023
Linda ohbee nm ( obi nm ) ( obi m ) ( obim ),
if those rumours
contain any accuracy
then it may be possible that
■ if Nigeria can identify what that generation of bankers and administration did then to
♦️ fall the Naira
from
1 Nigeria Naira = 1 US Dollar
to
4 Nigeria Naira = 1 US Dollar
♦️ set? it on a
continous free-fall
downwards
it may be possible for Nigeria to
rectify and re-adjust those things back
Linda nm,
at a guess,
some of the folks
of that generation of bankers and administration
are still alive today 2023
and it may be possible to
ask for their counsel regarding what they did then
and how it may be reversed and rectified
around about that 1989? period too,
according to rumours,
a spokesperson? or spokespersons?
of the administration
gave out information,
according to rumours,
that
as part of their endeavours? regarding the Nigeria Economy
♦️ Nigeria had now removed the Nigeria Naira from it’s historical linkage to the British/Britain Pound Sterling
♦️ Nigeria was now relating to the United States Dollar instead of the British/Britain Pound Sterling
♦️ further more, the Nigeria Naira had now being floated against a basket of currencies
Linda ormahleechar nm ( omalicha nm ) ( omalicham ),
i guess experts and professionals in finance, economics, etc
can explain the meaning of these things
and
elucidate on the impact these sort of endeavours?
can have
on a given Economy that embarks on such endeavours
from an ordinary observer’s view-point,
i am aware of rumours that rumour
that
Britain which had ruled Nigeria
uptil October 1, 1960
placed the Nigeria Pound
at an exchange rate of
2 Nigeria Pounds = 1 Britain/British Pound
and allowed? the Nigeria Naira
when
Nigeria in 1973?
stopped using the Nigeria Pounds
and introduced the Nigeria Naira
to
gain strength
comparative to the British/Britain Pound
to the extent that
at circa 1974
1 Britain Pound = 0.75 Nigeria Naira
( and
1 US Dollar = 0.60 Nigeria Naira )
so one can only guess that
the administration(s) and bankers that
de-valued the Naira to
Naira 4 = US Dollar 1
and
further lower
may have had their own wisdom
especially as rumours rumoured that
leading Nigeria economists at the time
including renowned figures like
■ Dr. Pius Okigbo
■ Dr. Sam Aluko
( ▲▲ P.S : you can Google these names
even though
both learned erudite economists died
.. at different dates ..
a number of years ago
and see what turns up
and you may get some idea of their internationally acclaimed brilliance
in the field of economics )
advised Nigeria against devaluation of the Nigeria Naira.
although they are dead now,
going by the
observed and observable negative impacts of the
Naira devaluation endeavours
on the lives of Nigeria citizens
including, for example, among others
▼ closure of many manufacturing concerns / companies
▼ closure of many companies / enterprises / business concerns
▼ retrenchment of staff and workers
▼ investment flight
▼ etc, etc
one can take a look
at Nigeria and the Nigeria Economy
and
guess maybe
whether they were right or wrong
i.e
guess maybe
whether they have been proved right or wrong
there were rumours too that
a leading Nigeria politician of an older era
at that time
cautioned against de-valuation
with words that were rumoured to contain the wordings that :
“if Nigeria implements devaluation of the Naira
there will be suffering in Nigeria
and
the kind of suffering that will happen
will be of a type never seen in this clime before”
or wordings along those lines.
it is a guess that
one can take a look
at Nigeria and the Nigeria Economy
and
guess maybe
whether that older generation politician
was right or wrong
i.e
guess maybe
whether that older generation politician
has been proved right or wrong
in any case,
Linda nnmah nm ( nmah nm ) ( nma m )
perhaps it may be possible for Nigeria
to
take a look at those endeavours? and
see if they can rectify or re-adjust them
another thing, Linda nnkeh nm ( nkem ),
i have heard folks
who claim that they know
pontificate that
much or part of the strength of
the British/Britain Pound is that
it is based on gold.
if i understand them correctly
Britain has a lot of gold bars
( .. i guess they call it gold bullion or so .. )
and it is
these gold bars that give
value .. or much value .. to the
Britain / British Pound
now here’s the thing :
Linda nm,
if the possession of gold bars gives value to a currency
.. as in the instance of Britain, for example
is there any reason why
Nigeria which has naturally occurring gold e.g
■ in Ilesha, Oshun? state
■ in Zamfara? State
can not mine this gold
and
structure them into gold bars
of the specification
or similar specification
to the one Britain stores
in terms of
shape,
size,
design,
etc
and thus
have it’s own Nigeria gold bullion
( which it should also protect/guard very well
the way Britain guards it’s own )
and
which will
( like the Britain gold bullion does for the Britain currency )
give much value to the Nigeria currency
Linda nm,
you know,
folks rumour that
Britain does not have gold as (a) naturally occurring mineral resource(s)
in Britain soil
so let’s think about this for a minute :
if a country that has no naturally occurring gold mineral resources
can put together
enough gold to give value to it’s currency
how come a country that
historically has naturally occurring gold mineral resources
in it’s land mass
can not try
to put together some of all that gold so as to give value to it’s currency
in a similar manner that
the country with no naturally occurring gold mineral resources
intelligently
does ???
got to run now, Linda
will get back to you later.
meanwhile,
norrduh orfuhmah ( nodu ofuma)
✌✌✌
[ TO BE CONTINUED ]
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Linda Caicedo ⚽???? : Respects and Greetings, Linda
with regards to the parallel market exchange rate of the Nigeria Naira to the United States Dollar which, according to rumours, as at today 16 November, 2023 ranges between 1,145 Naira and 1,160 Naira to 1 Dollar
i, very frankly, believe that Nigeria has seasoned, tested and proven experts and professionals .. historically and currently .. in areas like economics, finance, banking, business, management, administration, etc
and some of these persons profile respected careers in top league world financial institutions e.g World Bank, IMF ( International Monetary Fund ), ADB ( African Development Bank ), etc
and that if Nigeria can harness the capabilities of these individuals
and
direct it into sorting out
the issue of the very low rate at which the Naira is exchanging to currencies like the Britain/British Pound Sterling, the Europe Euro and the United States Dollar
and related matters concerning the management of the Nigeria Economy
Nigeria can resolve the issue(s) very effectively.
i also believe that these sort of issues are best left to persons with the required professional, career and academic training and work experience to sort out
as a person with no inkling as to the issues involved but who has much influence and much operational authority
and does not understand the issues finitely can mess things up further and make them much worse than they were before.
from an ordinary observer’s point of view, it can be observed that in real life when there is a problem or challenge and the origins of the problem or challenge are traced, identified and understood
it may be possible to fashion out a solution or solutions to the problem or challenge.
relating this to the exchange rate of the Naira as at today November 2016
according to rumours,
the issue can be traced back to 1989?
when
the administration told bankers,
according to rumours,
that the Nigeria Naira is too strong at around about
1 Naira = 1 US Dollar
then
and that they should set? a different exchange rate for it
and the bankers responded by setting? an exchange rate of
2 Naira = 1 US Dollar
and the administration sent it/the figures back to the bankers and told? them not to make it less than
4 Naira = 1 US Dollar
and the bankers thereafter set a rate of
4 Naira = 1 US Dollar
and since then
the value of the Naira has been falling
lower and lower
continuously, by and large,
to the woeful levels
of
between
Naira 1,145 to Naira 1,169 = US 1 Dollar
Linda ohbee nm ( obi nm ) ( obi m ) ( obim ),
if those rumours
contain any accuracy
then it may be possible that
???? if Nigeria can identify what that generation of bankers and administration did then to
♦️ fall the Naira
from
1 Nigeria Naira = 1 US Dollar
to
4 Nigeria Naira = 1 US Dollar
♦️ set? it on a
continous free-fall
downwards
it may be possible for Nigeria to
rectify and re-adjust those things back
Linda nm,
at a guess,
some of the folks of that generation of bankers and administration are still alive today 2023
and it may be possible to
ask for their counsel regarding what they did then and how it may be reversed and rectified
[ CONTINUED IN (2) ]
Sam
at
https://www.thesamuelojekweblog.com
⚽???? Linda Caicedo : (2) CONTINUED FROM (1)
around about that 1989? period too,
according to rumours,
a spokesperson? or spokespersons?
of the administration
gave out information,
according to rumours,
that
as part of their endeavours? regarding the Nigeria Economy
♦️ Nigeria had now removed the Nigeria Naira from it’s historical linkage to the British/Britain Pound Sterling
♦️Nigeria was now relating to the United States Dollar instead of the British/Britain Pound Sterling
♦️ further more, the Nigeria Naira had now being floated against a basket of currencies
Linda ormahleechar nm ( omalicha nm ) ( omalicham ), i guess experts and professionals in finance, economics, etc can explain the meaning of these things
and
elucidate on the impact these sort of endeavours? can have on a given Economy that embarks on such endeavours
from an ordinary observer’s view-point,
i am aware of rumours that rumour
that
Britain which had ruled Nigeria
uptil October 1, 1960
placed the Nigeria Pound
at an exchange rate of
2 Nigeria Pounds = 1 Britain/British Pound
and allowed? the Nigeria Naira
when
Nigeria in 1973?
stopped using the Nigeria Pounds
and introduced the Nigeria Naira
to
gain strength
comparative to the British/Britain Pound
to the extent that
at circa 1974
1 Britain Pound = 0.75 Nigeria Naira
( and
1 US Dollar = 0.60 Nigeria Naira )
so one can only guess that
the administration(s) and bankers that
de-valued the Naira to
Naira 4 = US Dollar 1
and
further lower
may have had their own wisdom
especially as rumours rumoured that
leading Nigeria economists at the time
including renowned figures like
Dr. Pius Okigbo
Dr. Sam Aluko
( ???? P.S : you can Google these names even though both learned erudite economists died .. at different dates .. a number of years ago and see what turns up and you may get some idea of their internationally acclaimed brilliance in the field of economics )
advised Nigeria against devaluation of the Nigeria Naira.
[ CONTINUED IN (3) ]
Sam
at
https://www.thesamuelojekweblog.com
????⚽ Linda Caicedo : (3) CONTINUED FROM (2)
although they are dead now,
going by the
observed and observable negative impacts of the
Naira devaluation endeavours
on the lives of Nigeria citizens
including, for example, among others
???? closure of many manufacturing concerns / companies
???? closure of many companies / enterprises / business concerns
???? retrenchment of staff and workers
???? investment flight
???? etc, etc
one can take a look
at Nigeria and the Nigeria Economy
and
guess maybe
whether they were right or wrong
i.e
guess maybe
whether they were right or wrong
[ CONTINUED IN (3) ]
Sam
at
https://www.thesamuelojekweblog.com
????⚽ Linda Caicedo : (4) CONTINUED FROM (3)
there were rumours too that
a leading Nigeria politician of an older era
at that time
cautioned against de-valuation
with words that were rumoured to contain the wordings that :
“if Nigeria implements devaluation of the Naira there will be suffering in Nigeria and the kind of suffering that will happen will be of a type never seen in this clime before”
or wordings along those lines.
it is a guess that
one can take a look
at Nigeria and the Nigeria Economy
and
guess maybe
whether that older generation politician
was right or wrong
i.e
guess maybe
whether that older generation politician has been proved right or wrong
in any case,
Linda nnmah nm ( nmah nm ) ( nma m )
perhaps it may be possible for Nigeria
to
take a look at those endeavours and see if they can rectify or re-adjust them
[ CONTINUED IN (5) ]
Sam
at
https://www.thesamuelojekweblog.com
Linda Caicedo ????⚽ : (5) [ CONTINUED FROM (4) ]
another thing, Linda nnkeh nm ( nkem ),
i have heard folks
who claim that they know
pontificate that
much or part of the strength of
the British/Britain Pound is that
it is based on gold.
if i understand them correctly
Britain has a lot of gold bars
( .. i guess they call it gold bullion or so .. )
and it is
these gold bars that give
value .. or much value .. to the
Britain / British Pound
now here’s the thing :
Linda nm,
if the possession of gold bars gives value to a currency
.. as in the instance of Britain, for example
is there any reason why
Nigeria which has naturally occurring gold e.g
????in Ilesha, Oshun? state
????in Zamfara? State
can not mine this gold
and
structure them into gold bars of the specification or similar specification to the one Britain stores in terms of shape, size, design, etc
and thus have it’s own Nigeria gold bullion ( which it should also protect/guard very well the way Britain guards it’s own )
and
which will
( like the Britain gold bullion does for the Britain currency )
give much value to the Nigeria currency
Linda nm,
you know,
folks rumour that Britain does not have gold as a naturally occurring mineral resources in Britain soil
so let’s think about this for a minute :
if a country that has no naturally occurring gold mineral resources can put together enough gold to give value to it’s currency
how come a country that historically has naturally occurring gold mineral resources in it’s land mass can not try to put together some of all that gold so as to give value to it’s currency
in a similar manner that the country with no naturally occurring gold mineral resources intelligently does ???
got to run now, Linda
will get back to you later.
meanwhile,
norrduh orfuhmah ( nodu ofuma)
????????????????????????✌????✌????✌????????????????????????????
[ TO BE CONTINUED ]
Sam
at
https://www.thesamuelojekweblog.com
