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Listening from. My name is khalu
Aja and this is my podcast or my

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spaces Twitter spaces. It's a Twitter
space about money, personal finance, the

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economy, and we always make it
personal. So how do these economic topics

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related to you and your wallet?
That's the whole idea. That's what we'll

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talk about every time we beat on
a weekend. This week we're you're going

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to talk about and mentioned FX reforms. It's gonna be a very I mean,

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I'm just gonna talk a little bit. I'm gonna release the mic for

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the dask prop because I'm gonna listen
to the das prop and I get the

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abuse. So it's gonna give you
just a little bit of no background and

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then you guys get to speak.
Right. So first things pressed, let's

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talk about what's going on in the
past. In Nigeria, we had two

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or three exchange rates for the nira, right, so we had the see

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en rates and then we have the
maybe BDC and they will have the black

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market rates. Essentially, we had
one official rate and our official rate was

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not paid to reality. Essentially,
you could buy nirah or you could take

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four hundred and sixty eight nier and
buy one dollar, but the market will

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send the same dollar for seven hundred
nira, So marginal what we say big

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arbitract opportunity there of almost three hundred
nira. That's so large that no exporter

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right was willing to export products end
dollars and in flore those dollars back to

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Nigeria through the official channels. So
guys keep in mind that Nigeria has a

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lot of dollars. If you go
to Nigerian domincenia accounts, you will see

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tons of dollars. I think it's
about ten to twenty billion in dollar cash

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sitting in Nigerian bank falls. This
is minus two dollars that we hold physically

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as cash in Nigeria. We also
have the wish we say the P to

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P market where Nigerents are selling dollars
home a broad back to Nigeria. All

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those dollars, all that volume is
happening outside the Central Bank of Nigeria's control.

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Nigrants are not selling back dollars because
the rates just don't make any sense.

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You can send back at four sixty
three when you can send it to

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the same Nigeria across the street and
get seven hundred. So we've had a

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change. I was in the last
month. The bank has sort of removed

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the PEG or what we call the
capital controls it's placed on the Nira.

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It has said if you want to
buy dollars, you simply go to your

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bank. Now your bank is going
to bid on the importers as in personal

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import as we do, and your
bank will then get what was called a

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market determined price from that window and
of course sell to you. So such

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a back you say, we are
not going to be the number one source

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for dollars anymore. If you are
an investor, if you're an exporter,

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if you don't want to do remittance
to Nigeria, use the official channels will

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pay you at the rate that the
market determines. So if I'm a Nigeria

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and the idea is that I'm in
Houston, I can send back my dollars

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because I'm going to get that market
price. So what has happened in Nigeria

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The exchange rate has devalued or in
this case appreciated from the fourth sixty three.

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I think last week I saw eight
hundred, right, But that price

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reflects willing buyer willing seller. So
if I have doors and on the cell.

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That's how much I'm gonna get someone
to take it. On the other

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side, I want eight on the
box. So that's where we are right

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now. But I did look at
last week the Central Mink released their exchange

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and in flu reports right the dollar
limitances to Nigeria hasn't really picked up yet.

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But this is as an Anomic cabinet
as are the first quarter of twenty

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twenty three. We're still below what
we did in twenty twenty two, and

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the reforms seem not to have really
kicked in again. We don't have to

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figures to show what has come in
after the reforms. But I was just

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curious to ask my dad's rough folks, which are going to be the fastest

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people to send money Agreia, if
they know about these reforms and if these

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reforms is good, are going to
make any impact on their decision to send

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more influeback Nigeria. I mean,
of course, if you're building a house

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in Nigeria and you are sending one
hundred dollars, then you got maybe maybe

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seven seventy thousand an era. Now
they're don't get eighty thousand an era,

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So would that make you send more
money home? If the answer is yes,

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then we are interestending it. If
the answer is know, what do

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you think the government can do in
some of the reforms for you? It's

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gonna make it easy for you.
What would you like to see that would

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really make you send money home?
And I'm not talking about the money essentially,

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even for welfare, also for investing. What will make you buy anize

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your own bond for instance. So
the floor is open, um, you

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guys are gonna talk, and I
was gonna moderate, and I'll call my

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first speaker Chris. Chris, how
are you where you're calling? Person?

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Hey, Chris, you're gonna omut
that little bit button. You're gonna hit

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that button so you can speak before
Chris jumps in here, let me go

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to already have my first DM Calo, Can you confirm where I can get

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the prize as a today for dollars? Yes, I personally, guys,

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I personally, who's f m dq
to just do on your Twitter handle at

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f m dq that's the should said
over the counter, um, but not

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markets that prices Nigerian bones, Nigerian
treasuries and also they also post on posting

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niger exchange rate. So I used
to at f MTQ. So if you

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only get really the market rate,
that's a good place for to go to.

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At FMTQ. I'm just going to
share the handle on my two so

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you can just follow. That's the
best place I think I get the real

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price for dollars. Demmi, Denny, you've got the floor. What's happening?

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So yeah, good evening and yet
a really good conversation. I've become

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increasingly interested in the affairs in Nigeria, as you can probably tell. Yeah,

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I reside in Britain, I've been
born and bred here, but I'm

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a Nigerian heritage. So my contribution
to this is that I've been closely following

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the exchange rate because I do say
money to Nigeria. But one of the

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conversations I've been having with my mom
is about investing in Nigeria. One of

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the things you'll find in the West
is that there's a propreakul lation. There's

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not a lot of opportunity. I
mean, we have very i would say,

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quote unquote mature opportunity, mature economies. So the opportunity to invest is

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there, but it's a lot more
regulated, a lot lower expectation of return.

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Right, So if someone was to
give you a five percent return in

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the UK, that would be an
excellent return. So Africa and Nigeria specifically

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presents an amazing opportunity to invest.
I would say the only thing that for

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me is an issue is concerned around
the how robust the regulatory framework is,

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like, for example, buying property. As someone that lives in the UK,

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I'd be very nervous that I would
buy a property and be defrauded,

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or I buy a property and end
up in dispute about ownership with somebody,

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whereas in the UK we have,
you know, very robust processes. Is

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you know, fraud in that area
is almost heard of. If you buy

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a house issues you know, there's
no kind of dispute over whether someone owns

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it or you're fighting your family member
for ownership over the house or things like

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that. So I guess my contribution
is just that, and maybe it's because

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I'm just relying on perceptions in Nigeria. But my contribution as a great person

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is I know that there are plenty
of people in the UK that want to

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invest in Nigeria, but they have
anxieties around fraud, robust regulatory framework and

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you know, a clear path for
resolving legal disputes as and when they arrive

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to my books. I mean,
I mean that those are those are real,

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real, real fears of ship like
because if I was like you,

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I don't even Nigeria that I tried
to invest and I see on the news

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that you know this happened, that
happened, I would express this exacty abuse.

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So just to give mebe don't also
change of my supposed to give you

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a bit of five flight. So
if you want to invest in Nigeria now

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today right there is you could take
one hundred pounds, let's make it realistic,

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let's say a thousand pounds, right, you could buy a bond in

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Nigeria and you could implode that money
officially true a Nigerian bank, you could

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go in buy a bond and when
you take your pounds to Nirah to buy

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that bond will also give you a
forward effects market where you can actually go

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in and buy your dollars to take
your money out of Nigeria. So also

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like you hedge your bet, and
I think most Nigerian banks offer dollar denominated

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investments in Nigeria and the advantage of
doing that for Nigeria that you get a

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higher yield. I know you can
just raise your risk to five percent.

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But way back to Nigeria, we're
always overall already doing five percent on dollar

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returns in Nigeria. Like if like
you said that they pull for Nigeria is

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the returns you get in Nigeria.
It's a higher risk that then gives you

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that opportunity to get a higher return. So I do feel you, I

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do understand. I agree what you're
seeing. We have to be more robust

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in how we you know we are
sewage investors. Concern around safety, I

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mean as CD and government is laptop
right, that wouldn't happen in the UK.

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But still good points. But it
takes nitress an open market that is

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a very profitable market if you do
want to get it getting slowly. Last,

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people have some guys who talk talk
about real estate investing higher yields in

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Nigeria. Good good, good model. They buy a property, you invest

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in the property, they manage it, they give you retail yields. I

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think it's a very very good way
to get into rest the market in Nigeria

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without owning property, without wanting about
title, but then me protect you your

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your concerns, attack you. Let's
get Kenny Kenny colors this this U semilar

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as spaceman. Yes, oh,
I think I think I totally agree with

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them and living environmental because of lack
of good enippling environment for business. I

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mean, are you going to get
your money back? That refraining people from

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investing in Nigeria basically, But one
thing I would like to ask you is

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my community is going to be more
of a question to you. So what

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the last I checked Nigeria credit rating? The fish we are like negative be

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credit writy, I wish deny,
deny, check over what the bank always

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takes and if we're not, we're
not ready bad. But what is the

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thing that's injuring Nigeria from assessing us
capital market like goodness as the Bank of

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America? What is it? I
was checking the one lative his father of

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rebellion that I'm like, what's that
going to do to fuel gases? Or

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what is that latter? And they're
gonnotiate it is thousand Myra. I mean,

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what is the thing that's evening Nigeria
from assssy he played big in the

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capital market. What is it?
Think you can Yeah, Kenny Kenny's a

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good, great question. Let me
ask people, do not you don't have

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used location? Are you calling from
Europe or from the America? I'm planning

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from you as business at you.
So Nigeria, let's let's go back to

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say twenty twelve. Nigeria right was
in the JP Morgan bond index of Imagine

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Markets. What that meant is this, right, the way you invest a

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broad Way, the big boys investor
brother don't buy individual bonded buy indexes or

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to buy a like a money market
fund. So Nigeria was included. I

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think what the second and only emergine
markets bonds to be including that index.

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I think it was South Africa and
Nenturia. So what that means is this,

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if a blue Beeg guy, if
young guy wants to buy Imagine market

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bonds, once he buys that JP
Morgan bond, he has for Thomas taken

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parts Nigeria and bonds. So we
were already in that market and that gave

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niger a lot of liquidity. So
every month people are buying our bonds because

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they are buying the emerging market bonds
and Niger could sell bonds and give floor

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nation character of flood in the country. Why were we on that bond number

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one, Who were the people that
ran the economics in Nigeria when goals will

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conjure a Well, you had a
World Bank president. If you google her

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name, you saw a world band, a lot of gravitas, you know,

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so invests this boys more, this
a tween, the three year old

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boys that don't know what Africa or
who Africa is. So you're going with

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the reputations. They go by a
reputation the goop, I want to see

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you on blue bead, so you
see her, Okay, it's to be

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good. Then they look at the
macroeconomic conditions of the country. If you

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pulled up Niger's Margaret economic conditions in
state ten twelve, you saw inflation was

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not just single digits. It was
stable for like four years. So it

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wasn't just that it was low,
but it was stable. They were really

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ups, don't really downs. Then
they look at the Central Bank of Nigeria's

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bond reserves. Boy, it was
high. Was that maybe forty nine or

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fifty or sixty billion and growing.
So they knew that if they try to

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test Nigeria or to try to sell
Najerian bond, the central Bank had enough

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ammunition to beat them back. Right. So the macroeconomic inflation, the GDP

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group Nigeria was casually posting six percent, seven percent, eight percent casually.

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Right, So the economy was growing. We were what you call a unicorn.

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We had a lack number of English
speaking young people. So a large

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market ge had come to Calaba invested
a billion dollars. Right, you had

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empty and everyone comes to Nigeria to
invest a lot of billions. So those

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guys in Golden sides to look at
the country and say, this is a

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growing economy. You want to be
a parison economy. Hence they put us

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in the bond so that people could
invest in that bond to get exposure to

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Nigerian group. Right. That's and
if you look at twenty fifteen, does

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the pymost tweet on seal and whether
list that the three that the markets that

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we're going to be tough fighting entire
I think it was number one was Catar,

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Number two or three was Nigeria.
That's a pity Most twitt there wrestling

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and put it up there. That's
where we were. What happened in twenty

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fifteen destroyed everything in the Central Bank. Governor based on the coming part of

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president. We had goldener sex wanders
not good marker wanders. When foreigners are

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buying Nigerian bonds, their findings had
to take their money back out of Niger

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because you your sectual DOMACA is restricting
exports of dollars from Nigerias and they said,

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we have to remove that restriction because
we're bringing the dollars in want to

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take it out, just like how
the ellens A complained today and Nigeria government

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did not listening. They were proud. They were saying, he's Nigeria holds

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stuff. And Jim Morgan took Nigeria
off that bonding deck. Once we left

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the bonding deck, then the only
goal we could secure consistent row dollars was

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to go borrow. Hence source go
from jib Morgan bonding decks to you bonds.

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We're not borrowing directly at the higher
cost. So now because no one

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get the automatic purchase of our bonds, it was we had to go sell

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our bonds. And when you were
selling your bonds, what are you doing?

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You are saking at a higher yield. That's where debt track Nagenia has

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started from you that we had the
bonds at eight point five percent for thirty

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years to attract dollar investments when we're
already in a bonding deck. Were already

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in the bonding deck. Weday have
to go market, so we now had

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to go sell bonds. We did
the capital controls and then we retained subsidies.

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Those two things killed out the interest
in Nigeria. The full investors left

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from twenty fifteen. The foreign investors
have been living until today. And you've

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seen the foreign portfulio go out.
You've not seen the physical investors like the

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00:17:07.079 --> 00:17:12.720
Embridates airlines physically leave. They're not
going to be Nigel anymore. So what

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00:17:14.160 --> 00:17:18.519
the new government change is to reverse
what happened from twenty fifteen to twenty three

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is, Okay, we're gonna try
to part of this part that we have

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in twenty fifteen to say if you
bring it capital, you can't capital.

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We're going to give you just one
price for dollar. That's what they're trying

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to do. It doesn't mean that
what they do will necessarily work. It

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means that if they don't do it, nobody will bring it money. That's

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what's good. They have to do
what they are doing now so you don't

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get anyone to even look at Nigeria. If you don't remove exchange rates,

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if you don't make the Nira to
float and get a real prizing, if

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you don't move capital controls, if
you don't have a forward market for Nira,

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then nobody will bring money in.
But even if you then do it,

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it doesn't guarantee. So it's just
sufficient but not necessarily. It's necessary,

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00:18:04.559 --> 00:18:08.680
but not so Christians people, you
need to have it, but even

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if you have it doesn't mean we'll
bring money. Hence my space. So

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I'm not asking people like you can
let me ask you your answer to question.

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00:18:15.799 --> 00:18:18.880
Let me ask you my own questions. Okay, have you sent more

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money? Have you sent less money
based on the reforms or the reforms have

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got no meaning to you whatsoever?
So mine doesn't go, doesn't change physically,

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we're fire, you know, you
know how to just now we have

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people and ye that we have to
take care of. Then maybe you'll have

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a project that's only you are doing
so. But it's right now, my

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brothers, now we are we having
conversation. Last week was telling me about

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three estate market like Citling an example, like somewhere in Shuemlo you can be

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valued buy house like all this face
may fish you would house ye scrap the

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00:18:57.400 --> 00:19:03.440
turney to the mother defense. And
so That's what I'm looking into right now.

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So I think I've been dropping on
that. So but from the so

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00:19:08.559 --> 00:19:15.799
my my sending money back to get
were here? But what were you aware

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00:19:15.799 --> 00:19:19.000
of all these reforms in the past, what years are following the Jim policies

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Briticial So I know no way made
you say hey, I want to send

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my money back because like, don't
you do show a new projects? Are

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you doing it because of this reforms
or you don't? Playing either way?

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00:19:33.160 --> 00:19:37.440
Um, I think I'm I thinking
because to be honest, I think I'm

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really be because of this reform.
But because of this reform, because I

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am pastulation of the people on ground, because I've been hesitant to invest in

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so he would be easily I used
to send money back to the cuts back

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00:19:48.960 --> 00:19:52.519
to the year at the ending we
sell it at the point is they can't

252
00:19:52.519 --> 00:19:56.440
find a way to send my money
back to me. But this is the

253
00:19:56.279 --> 00:20:03.599
everything that is difficult to get the
money back to the US. Leave that

254
00:20:03.960 --> 00:20:07.359
the last question for you? How
do you send one too? Like you

255
00:20:07.480 --> 00:20:11.440
guys, do you do a bank
transfer? Do you do give pork has

256
00:20:11.519 --> 00:20:14.759
to bring do you do have the
same money to nature? So I used

257
00:20:14.839 --> 00:20:21.279
all this app all all these all
these finted app like same wage and all

258
00:20:21.319 --> 00:20:23.400
those kind of stuff. That's what
I used to give the guys ni ra

259
00:20:23.599 --> 00:20:30.160
or dollars. Because those guys so
they change the point. They won't give

260
00:20:30.200 --> 00:20:33.680
you your your dollars. We now
think we now give you your dollars.

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00:20:33.839 --> 00:20:37.720
You cannot go to the black market
and change it because you can get the

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00:20:37.799 --> 00:20:41.000
quick deal from them. Well,
now I think they are the last time

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00:20:41.000 --> 00:20:42.799
I think they're giving them dollars.
Now they will give they will give you

264
00:20:42.839 --> 00:20:45.799
the loan. You will walking inside
the banks. So if they get you

265
00:20:45.920 --> 00:20:49.279
used the app they ca the loan. Now said they can get nigh rapp

266
00:20:49.319 --> 00:20:53.440
dollar whatever they want to make it. So whenever the why when you get

267
00:20:53.480 --> 00:20:57.279
to the bank they will get depend
on your shots. They they will give

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00:20:57.279 --> 00:21:03.000
you narra they give you so as
to prefer those. Yeah, Kenny,

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00:21:03.119 --> 00:21:06.319
can you look at the go back
and look at the twenty this space we

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00:21:06.400 --> 00:21:08.400
had last week? Right, we
had some guys here doing property. What

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00:21:08.559 --> 00:21:14.799
you want to do so that the
buying these things in show or yaba buy

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00:21:14.880 --> 00:21:18.680
them, they convert them to twenty
five year leases, so you can then

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00:21:18.759 --> 00:21:22.920
you can get the counsel without you
being an actual you're buying likely got that

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00:21:23.079 --> 00:21:30.119
buying lane, buying this or that
years down down. What another concern I

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00:21:30.240 --> 00:21:34.680
have is dealing with this and when
you learn how to password the paper another

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00:21:34.799 --> 00:21:37.559
to the plans, Kenny, we're
going to I can see somebody that are

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00:21:37.880 --> 00:21:44.440
bypassed, not not bypassed. I
make that process a little bit like makular.

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00:21:44.559 --> 00:21:48.880
You can have confidence confidence in that
process appreciated. We'll go back last

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00:21:48.920 --> 00:21:52.400
week. If you can't find them, send me a DM market them to

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00:21:52.440 --> 00:21:55.279
contact you. They were here last
week. They were they've been here before.

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00:21:56.200 --> 00:21:57.920
What the things are since this is
happened that puja they buy this,

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00:21:59.480 --> 00:22:03.880
buy lie and they demolish land and
they build it into shotholets want to want

283
00:22:03.880 --> 00:22:07.119
to bedrooms, so it's better to
rent. It's get more customers, so

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the yield goes up. Then of
course you didn't get the yield as an

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00:22:11.400 --> 00:22:14.480
investor. So look look for them. I think you would if you might

286
00:22:14.519 --> 00:22:17.880
find them interesting. Yeah, can
you really do? Update? You to

287
00:22:17.960 --> 00:22:22.200
come in contact or contact co see
hidings. Yes, I'm doing fine.

288
00:22:22.319 --> 00:22:30.319
Good evening where you're calling from Europe, America, America, calling from the

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00:22:30.440 --> 00:22:33.200
UK, se UK. What's happening? Man? So you had we're talking

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00:22:33.200 --> 00:22:37.920
about talking about reforms and all.
That's a question for you for you keeping

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00:22:37.960 --> 00:22:41.880
your own ante more money or less
money? And is it because of the

292
00:22:42.079 --> 00:22:48.880
reforms? I want to see more
I've been sending less money apportunity? It

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00:22:49.160 --> 00:22:56.000
is because of these reforms? Are
the ones before? Yes? So?

294
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Um, I don't know? Can
I just okay? So the thing is

295
00:23:03.160 --> 00:23:08.279
I entered the UK last year and
when I came to the UK, majority

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00:23:08.680 --> 00:23:12.279
ninety percent of the Nigerians I met
here told me one thing. They said,

297
00:23:12.319 --> 00:23:17.960
Coursey, never send your money back
home for any preudiing project. Don't

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00:23:18.039 --> 00:23:22.319
invest back home. They were like, we know you love Nigeria, we

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00:23:22.400 --> 00:23:23.920
know you want to do this,
we know you're always talking about and you're

300
00:23:25.000 --> 00:23:29.960
but don't you get invest back home? And I'm like no. I was

301
00:23:30.039 --> 00:23:33.400
like, it's a lie and you
guys the home and the likes like that.

302
00:23:33.920 --> 00:23:40.720
Then I started investing, particularly in
businesses and my wife also invested in

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00:23:40.880 --> 00:23:47.519
real estate. Then came olady,
you know, invested in agriculture, was

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00:23:47.599 --> 00:23:53.240
invested in lands and there's one particular
thing that's kept on making all the investments

305
00:23:53.240 --> 00:24:02.119
scrumble. The arbitrariness of Nigerian policy
naked, you know, Like let me

306
00:24:02.200 --> 00:24:07.559
give you an example. One policy
making that's destroyed my three of my businesses

307
00:24:07.640 --> 00:24:15.319
at once was this cash this nira
issue that the niras, Yes, that

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00:24:15.480 --> 00:24:19.079
one destroyed many of my businesses in
short, in crippled all of them like

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00:24:19.319 --> 00:24:23.839
that, you know, and a
lot of my a lot of people here

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00:24:23.960 --> 00:24:27.799
as well, you know, at
the point in time when they now when

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00:24:27.880 --> 00:24:32.160
and I told one of my senior
office, she was not like I told

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00:24:32.200 --> 00:24:36.839
you not to invest in nanjaer for
now, you know, just ignore er,

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00:24:36.960 --> 00:24:41.599
focus on your immediate family and just
focus on investing where you are where

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00:24:41.640 --> 00:24:45.319
you can be able to physically monitor
things like that. You know. So

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00:24:45.440 --> 00:24:52.279
I guess that's the that's the most
important thing that's really really that has disrupted

316
00:24:52.440 --> 00:24:57.119
my faith in ever investing in Nigeria. You know, it's their bitragedness of

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00:24:57.279 --> 00:25:03.920
everything. Governments can just weak up
today, the state governments can weak up

318
00:25:03.920 --> 00:25:08.400
to they just come up with job
just one form of policy that just takes

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00:25:08.599 --> 00:25:15.039
the food from your mouth, you
know. And and there's no another major

320
00:25:15.200 --> 00:25:19.680
thing which many of my persons that
have seen here, friends, coworkers that

321
00:25:19.839 --> 00:25:23.640
have millions in your there have thousands
of parents in your account, you know.

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00:25:23.920 --> 00:25:26.720
And when I talk to them,
desire and what they have in mind

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00:25:26.880 --> 00:25:32.200
was agriculture. But the friend of
theirs went back home and their friend was

324
00:25:32.440 --> 00:25:37.440
kidnapped by ds men in the farm, you know, another friend of his,

325
00:25:37.799 --> 00:25:41.640
another friend of mine, another ahead
of another person. So they're like,

326
00:25:41.960 --> 00:25:45.240
I don't want to go back home
and go and put my money in

327
00:25:45.279 --> 00:25:48.200
a place where I would be keeping
out, okay, within the farm.

328
00:25:49.079 --> 00:25:53.640
You know, that lack of security, you know, it's a major is

329
00:25:53.680 --> 00:26:02.319
a major thing that really really this
that reader that make people disinterested in UM

330
00:26:03.319 --> 00:26:10.079
the going ahead with any form of
investments like that. You know. So

331
00:26:10.240 --> 00:26:15.240
okay, yes, if your incessors
has gone down, and it's because really

332
00:26:15.319 --> 00:26:19.960
of the policy. So this whole
thing we're talking about in Nigeria listening,

333
00:26:21.079 --> 00:26:23.920
were making it easy for you guys
with mad the rates you get the best

334
00:26:25.039 --> 00:26:27.319
rate you get now you get dollars. Is it going to change your mind?

335
00:26:27.319 --> 00:26:30.440
Are you going to be in the
wait and see or is it a

336
00:26:30.559 --> 00:26:33.720
definite no for you? You're just
gonna focus on UK for now. Ware

337
00:26:33.240 --> 00:26:37.240
to me, it's going to be
on the wait and see for at least

338
00:26:37.279 --> 00:26:45.079
two to three years. Wow,
you might have to just keep watching if

339
00:26:45.680 --> 00:26:52.920
they if there's a real change in
the posture of the government towards policies,

340
00:26:52.799 --> 00:26:56.480
if they are if they are going
to be stable, or they're going to

341
00:26:56.599 --> 00:27:03.240
be like the older set of persons
who were before, who could just randomly

342
00:27:03.680 --> 00:27:08.839
come up with something like I have
to business, I have to be you

343
00:27:08.960 --> 00:27:12.640
know, it's it's it's just like
being in the UK. Love for me,

344
00:27:12.759 --> 00:27:18.400
I mean the UK, and I
see policies. They you can't just

345
00:27:18.680 --> 00:27:25.880
change some things. It doesn't just
walk that way. You know, these

346
00:27:25.960 --> 00:27:29.519
people would, they will question you. You wouldn't even have the boldness to

347
00:27:29.640 --> 00:27:33.880
try it, you know. So
it does instances, that's what it does,

348
00:27:33.920 --> 00:27:37.680
as well as informed my decision and
even my wife she's trying to decredate

349
00:27:37.799 --> 00:27:44.960
me all of her investments. You
guys have stopped predating everything and the ones

350
00:27:45.839 --> 00:27:48.759
are a matter of that. We
are actually even locredating that he lost.

351
00:27:48.799 --> 00:27:52.519
But we are like, it's better
we lopredated to LOSTWN. We having to

352
00:27:52.720 --> 00:27:59.599
deal with lots of issues that do
stop. Yes, I hope so,

353
00:28:00.039 --> 00:28:02.920
I mean, I expect your comments. I hope you are in the minority,

354
00:28:03.119 --> 00:28:04.200
right, I respect for just saying
up in the minors. Let me

355
00:28:04.240 --> 00:28:07.599
get out out to get let me
get to illuminate in here first, right,

356
00:28:07.799 --> 00:28:14.920
and then that's illuminated or alomosis allumo
of Derby, because let me hear

357
00:28:15.440 --> 00:28:18.359
let me hear him that I can
get the expect like allumits Almo? Can

358
00:28:18.480 --> 00:28:22.599
you can you help him a little
more of Derby? Do you hear what

359
00:28:22.720 --> 00:28:26.720
people are saying? Yeahudicatively, happy, solitarybody, thank you for us in

360
00:28:26.839 --> 00:28:32.359
space. Yeah, let's start work
past state and happy sold to all the

361
00:28:32.440 --> 00:28:36.559
wonderful listeners and they speaker so far. The bottom line is, I mean,

362
00:28:36.640 --> 00:28:37.920
I've a few points I'm going to
say so. I think one of

363
00:28:37.960 --> 00:28:42.000
them most become fact has to be
lack of an unimplant environment in our society.

364
00:28:42.599 --> 00:28:48.359
Look at the insecurity, tourism,
the corruption, lack of trust in

365
00:28:48.400 --> 00:28:52.000
the system, unemployment and of course
one of the sudest parties. We have

366
00:28:52.079 --> 00:28:56.440
about twenty million my duns. We
live in despera. I mean, I

367
00:28:56.559 --> 00:28:59.799
think people abby to over twenty six
billion dollars every year. According to the

368
00:29:00.200 --> 00:29:03.519
Symbian that's a big, big money. I mean, that's almost the project

369
00:29:03.559 --> 00:29:07.200
of our country. The pacer comment
has failed to make use of the daspora

370
00:29:07.279 --> 00:29:11.599
and Nagers in despera. I mean, we give one one another example when

371
00:29:11.640 --> 00:29:15.759
it can corruption. The gentleman mentioned
when you look at mentioned property investments proper,

372
00:29:17.319 --> 00:29:21.160
a few Nigeriants in the UK group
even nag in despora you know obviously

373
00:29:21.240 --> 00:29:25.839
talk about investments. I work with
few brands in Ninegeria as well. When

374
00:29:25.880 --> 00:29:30.000
it comes property. It's always difficult
to convince any Nigeria to invest back home.

375
00:29:30.079 --> 00:29:33.640
When it comes to property, people
tell that, oh, we're going

376
00:29:33.680 --> 00:29:37.359
to invest in this business, and
then before maybe a couple of years under

377
00:29:37.440 --> 00:29:41.200
line or the packages. I mean, everything looks great, but then when

378
00:29:41.240 --> 00:29:45.359
it comes to do the nitty gritty, nothing comes up in the stands.

379
00:29:45.680 --> 00:29:48.519
That's every one. Let me let
me pass you guys go we heare nobody

380
00:29:48.599 --> 00:29:53.000
might think this man happy series.
But the daspora build is also another issue

381
00:29:53.359 --> 00:29:57.720
where love of Nigerians who are basing
that in our brothers interest. When you

382
00:29:57.759 --> 00:30:03.720
look at countries like Namibia, Kenya
booking a vassal togal South Africa, they're

383
00:30:03.720 --> 00:30:07.759
already into dustprop voting already. So
for example, if I was in South

384
00:30:07.799 --> 00:30:11.160
African, now all I have to
just leave my house when it terms to

385
00:30:11.279 --> 00:30:14.359
election to vote, I'll just put
to the embass in London and vote that

386
00:30:14.680 --> 00:30:18.400
South Africa as are Africans, like
all the Kenya's poking as our nipple,

387
00:30:18.599 --> 00:30:22.720
small country a top they did,
that's popular already. Naw I'm gana Morocco

388
00:30:23.039 --> 00:30:29.240
naturalizing dust problem as well. Went
to some Ninegurians in Dust part command investor

389
00:30:29.400 --> 00:30:32.359
that how can I invest in the
country that I can even decide who's deleted?

390
00:30:32.480 --> 00:30:37.759
We lead this country. I'm young, Oh yeah, I mean I'm

391
00:30:37.559 --> 00:30:41.400
to be a community of Nigerians in
the UK. We have almost eleven thousand.

392
00:30:41.599 --> 00:30:45.240
I'm also we have so many Nageran
Compts in Dustboro, Najerents in the

393
00:30:45.359 --> 00:30:49.319
US, Nagers in Germany, Nagers
in fieland Nagas in Australia. We have

394
00:30:49.480 --> 00:30:52.920
Nigerants in Middle East communities, Nagian
South Africa, now Jergs in Canada.

395
00:30:53.119 --> 00:30:56.960
All these communities have been touch every
one of them. And the same issue

396
00:30:57.440 --> 00:31:02.400
is members of these companies are telling
me all the time. People is simple,

397
00:31:02.680 --> 00:31:03.960
why should I be investing in the
country. In my country, when

398
00:31:04.000 --> 00:31:07.920
I kind even decide, will becomes
the head of my country. So the

399
00:31:07.119 --> 00:31:11.119
companies to work upon the standards,
even like you in Dusporo and are Poover,

400
00:31:11.559 --> 00:31:15.119
a lot of things will go wrong. Secondly, look at unemployments.

401
00:31:15.359 --> 00:31:21.079
I think about the three point eight
percent on employments and sighting. I've said

402
00:31:21.119 --> 00:31:25.079
you so many times. I'm always
split to my jogs indsporal let's invest back

403
00:31:25.240 --> 00:31:27.319
or so for example, my peer
lives in Nigeria, I mean I employed

404
00:31:27.359 --> 00:31:30.599
my peoples. Also basing n Jack
could have employed someone in the UK.

405
00:31:32.680 --> 00:31:34.720
I have small business and running impact
on legals as well. So what I've

406
00:31:34.759 --> 00:31:38.039
thought is that I've about eighty nine
people were for me Nangia, so I've

407
00:31:38.079 --> 00:31:41.640
just them own little percentage. So
there's a lot of Nigers in desperal after

408
00:31:41.839 --> 00:31:47.039
mine alto Natios percent also do their
own two So for Nitient to be great,

409
00:31:47.200 --> 00:31:48.759
everyone will posts have to come on
board. If you can employ two

410
00:31:48.799 --> 00:31:52.599
people, another person employs to three
people before you know, your own employment

411
00:31:52.680 --> 00:31:56.839
go down. Because the bottom line
is the governments cannot do everything, so

412
00:31:56.920 --> 00:31:59.480
we have to be fair as well
as most of the r to criticize the

413
00:31:59.519 --> 00:32:04.400
government also not just that's prob to
do our partners wrong, to the insecurity

414
00:32:04.759 --> 00:32:08.920
insecurities, the big yeah, I
don't I want to get this in here

415
00:32:09.079 --> 00:32:15.640
right. So question for you is
this the policies with the effects just on

416
00:32:15.799 --> 00:32:19.559
the effects alone, does that move
in those for you and your friends you've

417
00:32:19.599 --> 00:32:22.160
spoken to. Are they are pol
saying Wow, because Cibing has done this,

418
00:32:22.400 --> 00:32:25.359
I'm going to send more. Do
you hear that from anybody? Or

419
00:32:25.400 --> 00:32:31.799
it's just they're just doing the How
was the conversation around this policy saving it's

420
00:32:31.839 --> 00:32:37.039
doing? Doesn't move any indo you
know? So we can of the Cibian

421
00:32:37.119 --> 00:32:40.559
policies sometimes obviously a lot of Sibien
policies are not right. A lot of

422
00:32:40.559 --> 00:32:45.400
people are angry the Cibian policies you
even look at it. They from every

423
00:32:45.480 --> 00:32:47.200
simple that apple, I don't ef
you, nobody from egg so whatever.

424
00:32:47.400 --> 00:32:52.480
A lot of just the past couple
of months, over one hundred nine students

425
00:32:52.519 --> 00:32:57.039
have been directed universities in the UK, so a lot of students are actually

426
00:32:57.559 --> 00:33:00.559
just you know, not even doing
their lives here in the UK or because

427
00:33:00.599 --> 00:33:04.680
of the affects of regulations. Is
what's bi policies as affected then so a

428
00:33:04.720 --> 00:33:07.039
lot of things are the right,
so people have actually lost lost trusts in

429
00:33:07.079 --> 00:33:10.920
the system itself. So unless misture
comes up with Neil, I mean I'm

430
00:33:10.960 --> 00:33:15.200
looking forward to see who's gonna be
the Neil CBN governor. We're still waiting

431
00:33:15.359 --> 00:33:17.039
for that to recove and say all
policy is going to come up with.

432
00:33:17.200 --> 00:33:21.440
Even with your from eight issues,
a lot of things have gone so wrong,

433
00:33:21.880 --> 00:33:24.119
which we clearly tells her that the
lack of nbry environments, lack of

434
00:33:24.200 --> 00:33:28.880
trust in the system. People have
lost trust in our system. I mean,

435
00:33:29.119 --> 00:33:30.759
there's enough much we can do,
even some of us who have to

436
00:33:30.799 --> 00:33:34.559
believe in nine jeers and some us
that okay, we can still get to

437
00:33:34.599 --> 00:33:36.960
where about how long A I'm going
to keep on saying in saying this for

438
00:33:37.240 --> 00:33:40.039
how long and then when people decide
to stop sending money back home is going

439
00:33:40.119 --> 00:33:44.559
to affect to economy maybe like it
or us. Look at the GDP South

440
00:33:44.559 --> 00:33:49.039
Africa, look at Egypt, GDP
southartcast to come to us in Africa,

441
00:33:49.400 --> 00:33:52.519
or look at the population southardca of
population is only fifty million people compared to

442
00:33:52.559 --> 00:33:57.559
tro the meal Nigerians. If South
Africa had our population, the ggypeople in

443
00:33:57.640 --> 00:34:00.640
trillions, easily in trillions. So
we have to see that. I'll come

444
00:34:00.640 --> 00:34:02.480
back to the drain board. The
friend of government has to understand that a

445
00:34:02.640 --> 00:34:06.279
lot is no. Well, we
don't make use of our population. We

446
00:34:06.359 --> 00:34:08.440
don't make use of the amount of
Nigerians we live in Despora. I think

447
00:34:08.480 --> 00:34:14.400
we have the highest migrants Africans in
Jaspora who said lack home. You know,

448
00:34:14.519 --> 00:34:16.519
I think nexts in Egypt from writing
the stand you know, so we

449
00:34:16.599 --> 00:34:20.920
have to make use of all these
stalls. And it gets me angry sometimes

450
00:34:21.079 --> 00:34:23.360
because the future government is solved.
Sometimes I don't know before our leaders.

451
00:34:23.400 --> 00:34:28.039
And also believe, what's it called
for us to get to right? We

452
00:34:28.119 --> 00:34:31.159
need to have the right mix of
technocrats and carry politicians as well. You

453
00:34:31.239 --> 00:34:35.400
know, we can't only have cract
politicians. Will we just come to politics.

454
00:34:35.480 --> 00:34:37.320
No, we have to get to
right. The technocrats would do they

455
00:34:37.400 --> 00:34:40.599
country more good if they get involved
the strung to make up control better.

456
00:34:40.800 --> 00:34:45.599
And I believe that these kind of
discussions were decators and of course enlighten us

457
00:34:45.599 --> 00:34:49.360
to understand that we have to do
better right the micromam, thank you,

458
00:34:49.719 --> 00:34:52.719
thank you. Almost interesting that you
said that this conversation has been has been

459
00:34:52.920 --> 00:34:58.639
swallowed by the focus and a lack
of trust of the government. KI keep

460
00:34:58.679 --> 00:35:01.280
punt making all themed hopping here,
let me give us some clarity on the

461
00:35:01.440 --> 00:35:05.239
you know, the number of that
you've heard what people are saying. People

462
00:35:05.239 --> 00:35:08.519
don't really trust the government as what
I'm here, They're not really impressed by

463
00:35:08.559 --> 00:35:13.239
the reforms. Yeah it's good,
but still that lack of trust, lack

464
00:35:13.280 --> 00:35:16.960
of quote and quote enabling environment.
It's really what's what I'm hearing. You

465
00:35:17.079 --> 00:35:23.000
take cared texts, were having very
interesting conversation and you know, um,

466
00:35:23.199 --> 00:35:28.880
it's a very create opportunity to one
once you can express onself in terms of

467
00:35:29.360 --> 00:35:31.559
the matrial policy. If you look
at the effects market, the effects market

468
00:35:32.119 --> 00:35:38.079
is definitely governed by the equidity and
market deficiency do no matter how cosmetic or

469
00:35:38.079 --> 00:35:44.159
appeal reforms is, if you do
address those issues, the unencuous trouble.

470
00:35:44.599 --> 00:35:47.719
Yes, you could applauded with all
applauded de presidential reforms, but the problem

471
00:35:47.800 --> 00:35:53.519
has been implementation on the design and
the mechanism used. So if you look

472
00:35:53.559 --> 00:35:59.840
at you've always complained that whether you're
practicing managed fluids, they are practicing coinin

473
00:36:00.719 --> 00:36:06.239
y a processing fixed exchange system.
Successful countries all apply these things and it

474
00:36:06.360 --> 00:36:09.519
works differently from China to the United
States to Switzerland. The issue in Nigeria

475
00:36:09.679 --> 00:36:16.000
is right like we having an anamic
supply side. First of all, we're

476
00:36:16.079 --> 00:36:22.079
going on three has three billion dollars. We also have effects obligations that we're

477
00:36:22.119 --> 00:36:27.360
not fulfilled. Investors have not been
able to put their funds back as we

478
00:36:27.480 --> 00:36:31.800
speak, the backlocks hit that as
you realized before their lives, I've not

479
00:36:32.000 --> 00:36:36.800
been able to take their funds about
it where to adect them to that Also,

480
00:36:37.480 --> 00:36:38.960
what me scares means that if you
look at the first half of the

481
00:36:39.039 --> 00:36:45.159
year, real remiticans have dropped.
Technically, datas from the CBS suggests that

482
00:36:45.880 --> 00:36:51.519
it's less than they began in twenty
twenty two. Real remitters was about two

483
00:36:51.599 --> 00:36:54.360
point one six billion dollars. Now
you should also look at the fact that,

484
00:36:54.639 --> 00:37:00.960
yes, the market has been on
an upside. The trick is that

485
00:37:00.559 --> 00:37:04.679
if you look at the last couple
of days, you could see some draw

486
00:37:04.760 --> 00:37:07.880
downs. And the reason of the
draws downs that the reality on ground is

487
00:37:07.960 --> 00:37:15.440
that that fiscal discipline is not there. We're seeing we longmakers are trying to

488
00:37:15.519 --> 00:37:17.880
do projects, parting and things like
that. So the FX market right now

489
00:37:19.519 --> 00:37:23.159
is only feel four and this clean
part of it is that other markets are

490
00:37:23.199 --> 00:37:28.920
becoming very attractive. I posted the
US bond market. If you look at

491
00:37:29.000 --> 00:37:34.199
the treader, I posted the youth
in future did the long term responds?

492
00:37:34.280 --> 00:37:37.440
Given twelve point three percent? Why
would I keep my funds in Nigeria where

493
00:37:37.480 --> 00:37:43.639
I can get where I can get
a muscifer the youth and I was playing

494
00:37:43.679 --> 00:37:46.079
less on credit facewa. Now also
you also need to look at the dynamics

495
00:37:46.199 --> 00:37:52.920
at which Denia is falling in junior
low denial lost about forty percent in July.

496
00:37:52.119 --> 00:37:55.000
Now Nia is down by a temperature. So we're looking at the fact

497
00:37:55.039 --> 00:38:00.360
that it seems that this is not
and those issues have not been address.

498
00:38:00.719 --> 00:38:04.880
So the problem is why having by
having to be able to solve this problem

499
00:38:05.039 --> 00:38:08.360
simple reasons, we've not been able
to align our monetary and scar policy properly.

500
00:38:09.039 --> 00:38:14.519
We are dancing to the markets while
not solving structural issues. Lastly,

501
00:38:15.159 --> 00:38:17.039
you know, I, like you
mentioned, I'm not the Nagera for example,

502
00:38:17.079 --> 00:38:21.320
why are a very big investment in
nagers of my invested a lot of

503
00:38:21.360 --> 00:38:25.119
money? Both the ranting on ground
was that the point land which I was

504
00:38:25.159 --> 00:38:29.719
seeing the market. I was even
thinking that who by time with the footing

505
00:38:29.760 --> 00:38:32.559
of that and things you stab lies
between seven fifty at some point to four

506
00:38:32.599 --> 00:38:37.639
back to six hundred when the apex
bumple at some points. But he started

507
00:38:37.679 --> 00:38:43.119
getting out of hands when you see
the gap in investors and exporters will do.

508
00:38:43.400 --> 00:38:46.760
And also the fact that Petro marketers
could not assess the investors. So

509
00:38:46.840 --> 00:38:52.320
the question is who assess the investors
and exporters will do? So there is

510
00:38:52.440 --> 00:38:57.239
no accessibility. The black market demanded
tea high. The P two P players

511
00:38:57.320 --> 00:39:04.440
are still actively invol so that's where
we're seeing action rate activated. You said

512
00:39:04.480 --> 00:39:08.639
the Nira has fallen, to say
it tore right. They did actually fall

513
00:39:08.960 --> 00:39:14.480
or it had just come to his
real price. What was it that the

514
00:39:14.679 --> 00:39:21.599
narra at four hunger was an artificial
price and right now at eight hundred actually

515
00:39:21.679 --> 00:39:27.760
the real exchange value for nira?
What's your take to the fund? Definitely

516
00:39:28.000 --> 00:39:30.639
understood that that was definitely subsidize.
That was much the true value. Now

517
00:39:30.920 --> 00:39:35.719
even if you look at it on
different metrics. You know from probably we

518
00:39:35.800 --> 00:39:38.719
knew that it was definitely subside by
the cebid. But if you want to

519
00:39:38.800 --> 00:39:43.840
look at the realities right now.
That's electric key because if you look at

520
00:39:43.920 --> 00:39:49.639
the way the dollar had rallied this
year, once you expect now I should

521
00:39:49.679 --> 00:39:52.480
be at this to be around the
six fifty seven, I'll tell you the

522
00:39:52.840 --> 00:39:58.880
dollar had declined based on the fact
that the US economy is doing well.

523
00:39:58.960 --> 00:40:04.119
They've been able to improve interest rates, and people that interest rate of sides

524
00:40:04.119 --> 00:40:07.639
will definitely reduce. So investors are
really petting on other and that's why the

525
00:40:07.719 --> 00:40:10.679
Pritish pound has been riding so high. In fact, it's been on the

526
00:40:10.760 --> 00:40:15.079
best round against major currencies, so
one of that I expected that. Or

527
00:40:15.119 --> 00:40:20.360
if you look at the Nara is
not even able to break even against those

528
00:40:20.400 --> 00:40:23.679
that brooke one thousand against the Putish
pound, I am scause. So it's

529
00:40:23.719 --> 00:40:27.920
really very critical. I can tell
you one thing. The market is still

530
00:40:27.960 --> 00:40:30.280
more efficient. The value are getting
right now, I can't tell it is

531
00:40:30.320 --> 00:40:36.559
either the internal is artificially very high. I still feel that if we have

532
00:40:36.880 --> 00:40:39.920
a very efficient system, that's by
concerns that our see them reserves is not

533
00:40:40.000 --> 00:40:44.079
really is showing the tet four person
though that a lot of people still believe

534
00:40:44.159 --> 00:40:46.880
that there's been a bit doctor,
but I still feel that it's not as

535
00:40:46.960 --> 00:40:52.000
bad as we are seeing that because
Junta suggested that our older came at one

536
00:40:52.039 --> 00:40:55.559
point from your parrels and the price
of all paparents. It is one like

537
00:40:55.679 --> 00:41:00.719
you guess forty percent of BIY production
activity government, So do the mathematics so

538
00:41:00.880 --> 00:41:07.599
that we can be able to pushing
at these six two, three to six

539
00:41:07.800 --> 00:41:10.000
months, you know. But the
problem right now is that we have a

540
00:41:10.159 --> 00:41:15.880
lot of power laws and the fact
that our point Pascal place makers are making

541
00:41:15.920 --> 00:41:19.639
a good mind. Look at what
happened a few days ago, patting the

542
00:41:19.760 --> 00:41:22.320
politic project for and on they put
on to take care of the cars and

543
00:41:23.039 --> 00:41:30.039
judicial ministry. Just one thousand people
were twelve million, while twelve million households

544
00:41:30.280 --> 00:41:34.960
are sharing five hundreds. So look
at defenders and look at the objective.

545
00:41:35.000 --> 00:41:37.199
So that's a long scare vestors for
coming up. I don't be surprised.

546
00:41:37.239 --> 00:41:42.360
We see in the stock markets coming
from a speak of sixty five thousand index

547
00:41:42.480 --> 00:41:45.159
points as we speak right place too, So investors are also looking at treating

548
00:41:45.800 --> 00:41:50.000
what the presidency is saying is not
what the market is seeing. Also,

549
00:41:50.079 --> 00:41:55.559
there's attractive there's more attractive environment in
efficience markets from UK to the United States

550
00:41:55.760 --> 00:42:00.679
and Nott recently Pastradier, so you
have to look out those contexts. Is

551
00:42:00.719 --> 00:42:08.880
a multical a situation, very in
the top Ballectrigo. Last point, like

552
00:42:09.159 --> 00:42:13.440
I had to say oil price at
one point one, you know we were

553
00:42:13.559 --> 00:42:16.719
doing casually. I don't think we've
hit our oil targets that we used to

554
00:42:16.840 --> 00:42:22.639
hit in say twenty twelve. For
a long time we are talking about oil.

555
00:42:22.760 --> 00:42:29.960
Theft is still ongoing, our imports
and our export position right even though

556
00:42:30.039 --> 00:42:35.079
we are exporting more. That is
dangle tape Uria that has made us now

557
00:42:35.119 --> 00:42:39.320
have a positive export balance. If
we take Alate dangote Uria, they were

558
00:42:39.400 --> 00:42:44.000
back to crude oil. Coco is
our largest export. Non oil is nothing.

559
00:42:44.440 --> 00:42:47.280
The point plant making is that intens
of exports we are still back to

560
00:42:47.440 --> 00:42:52.480
crude oil, and even that crude
oil we're not even exporting. We've got

561
00:42:52.519 --> 00:42:55.679
the oil tift. So when you
look at all these factors and agency and

562
00:42:55.760 --> 00:43:01.320
era is eight hundred. Unless this
that's SPRUP people that were talking to decide

563
00:43:01.440 --> 00:43:07.599
to bring money to Nigeria, I
don't see why the narrow value will rise.

564
00:43:07.280 --> 00:43:14.239
That's points I'm making. The Cibian
governors said oil's sales so people had

565
00:43:14.360 --> 00:43:20.280
not hit the CBM recup subsidy,
now taking away subsidy. So oil will

566
00:43:20.280 --> 00:43:22.480
start to comment, but what have
we seen? We have seen this like

567
00:43:22.559 --> 00:43:30.159
it's like spending going on the nonsense
spending so to save yours remittances. But

568
00:43:30.360 --> 00:43:34.760
you know my probably Remitz probably remitizes
that if we look at a real wages

569
00:43:34.960 --> 00:43:42.320
because the fact that lutuational reader has
modated the United States unemployment A crossed immigrants

570
00:43:42.400 --> 00:43:46.360
the artist high because I was really
working with some private banks of private datwn

571
00:43:47.519 --> 00:43:52.960
number of immigrants getting blue jobs as
we speak has kind of moderated a private

572
00:43:53.000 --> 00:43:58.440
except for Canada, United States webvious
reason, and that's why government is really

573
00:43:58.559 --> 00:44:02.599
looking at practive ragures. So Journey
for example, they have the apostrggy stratetages

574
00:44:02.719 --> 00:44:08.079
and that's kind of underpla. So
all those things come into play. Then

575
00:44:08.239 --> 00:44:14.679
also, like I mentioned again,
their markets are attractive. While would in

576
00:44:14.800 --> 00:44:20.360
Nigeria, why would the Nigeria and
invest in AGT plan for example, when

577
00:44:20.400 --> 00:44:23.960
it has to go through love process. Why you can rather invest in an

578
00:44:24.039 --> 00:44:30.519
output that did the forty percent this
year? The Stadia that did dople when

579
00:44:30.599 --> 00:44:36.440
invested in method that look at the
returns, the incentives to you invest album

580
00:44:36.719 --> 00:44:40.480
as we used. Also you also
look at the fact that the cost of

581
00:44:40.559 --> 00:44:44.679
capital, the assets of the coast
of moving froms from one point to that

582
00:44:44.920 --> 00:44:50.039
have become very complicating because different policies
coming out of different policies. Look at

583
00:44:50.119 --> 00:44:53.239
the new rules of about metas new
rules that you can have u shore not

584
00:44:53.480 --> 00:44:58.000
in the things that is a big
unclear to a lot of people. The

585
00:44:58.199 --> 00:45:05.440
last thing in Nigeria's naegels are now
spending more where they result because they are

586
00:45:05.519 --> 00:45:07.519
not getting that subsidies so that they
used to get. If you look at

587
00:45:07.519 --> 00:45:12.639
twenty twenty two, Nagera has spent
a billion dollars on foreign education. That

588
00:45:12.880 --> 00:45:16.239
was close to our project on education. Right now we're going to see more

589
00:45:16.320 --> 00:45:23.320
Nagaias now having to spend less because
the substitidicating from government. It's not much

590
00:45:23.880 --> 00:45:27.599
we have to pay at markets.
So these are things you also need to

591
00:45:27.639 --> 00:45:30.519
consider. So remitters, yes,
it is our hope, but we can't

592
00:45:30.519 --> 00:45:36.599
really bank condemned so much. So
medium work on ours and Cuckoo Cuckoo did

593
00:45:36.639 --> 00:45:40.760
well. This Cuckoo is artistics were
problem in Nigeria. Is that equoty W

594
00:45:42.000 --> 00:45:45.559
and Ghana are taken advantage of La
layers week, so we don't have a

595
00:45:45.639 --> 00:45:53.039
strong trading um trading capability nager and
also a cool output has not really done

596
00:45:53.199 --> 00:45:57.559
well. So I was speaking one
of our commodities. The margins are not

597
00:45:57.599 --> 00:46:02.840
even helping. So it's really very
sorry speak gotcha good point. Let me

598
00:46:04.000 --> 00:46:07.760
let me talk to as we say
in provider rock rematrances. Let me stry

599
00:46:07.800 --> 00:46:10.079
to see if they can give me
some data points. So I've got Kayoshi.

600
00:46:10.639 --> 00:46:15.039
I personally use Kayosh. That's how
I do my transfers back and forth

601
00:46:15.239 --> 00:46:20.880
Nigeria and I go. There's like
pep to people, I can bid and

602
00:46:20.960 --> 00:46:25.280
I get my phones in aything case. Can you guys hear me loud and

603
00:46:25.400 --> 00:46:29.599
Claire, good evening. It's great
to be here. Can you hear me?

604
00:46:29.880 --> 00:46:32.519
I can hear you perfectly. World
awesome. I'm trying to get data

605
00:46:32.679 --> 00:46:37.400
from you, right. Have you
seen an optic right in say let me

606
00:46:37.480 --> 00:46:44.159
tances from said Americans K to Nigeria. Is there any trend you've noticed that

607
00:46:44.280 --> 00:46:47.679
you want to share, would be
hopeful out the world? All right?

608
00:46:47.760 --> 00:46:51.480
Thank you, thank you so much
again it's great to be here. Let's

609
00:46:51.559 --> 00:46:54.800
a brief like background, so you
guys know what what Carlo and although I'm

610
00:46:54.800 --> 00:46:59.000
more use um so pretty much we're
pretty much beautiful. I used as a

611
00:46:59.119 --> 00:47:01.239
peer to play market that lets people, you know, start currencies. So

612
00:47:01.280 --> 00:47:07.400
if you have Nara and you want
for incurrences like um dollar card pounds,

613
00:47:07.599 --> 00:47:09.840
your role Kiushi is your plog for
that and go see from the daspora.

614
00:47:09.960 --> 00:47:15.199
So in about what your countries doing
the USBK Canada, Australia and Asia as

615
00:47:15.239 --> 00:47:19.000
well, and you want to you
want to send nurse nature directly, we

616
00:47:19.119 --> 00:47:21.760
are also your plog for that.
So also for those that like to you

617
00:47:21.800 --> 00:47:24.239
know, save in glars indom accounts, you will have Nara. You still

618
00:47:24.239 --> 00:47:28.760
want to get dollars INTOM accounts.
Again, Kiushi is your clothes for that.

619
00:47:29.480 --> 00:47:31.280
So I think one thing got Pan
of Spans out to us is that

620
00:47:31.360 --> 00:47:35.039
you know when this is, when
this happening and when the I was was

621
00:47:35.119 --> 00:47:40.000
fluted right, um the parallel market
rates right and the any rates were never

622
00:47:40.079 --> 00:47:44.960
really apart. So it felt like
you know what people are doing in the

623
00:47:45.000 --> 00:47:49.599
black marketing the necessarily change. Peop
are still buying us the accounts that they

624
00:47:49.639 --> 00:47:52.840
rate that that you know, the
aventity before well in the last pess in

625
00:47:52.880 --> 00:47:57.119
the last one, I would say
the last about nine days, we feel

626
00:47:57.119 --> 00:48:00.800
like an increasing particular rates. Right, so we steel like seeing um pounds

627
00:48:00.920 --> 00:48:05.760
you break out of one thousand into
into one k plus. And the thing

628
00:48:05.880 --> 00:48:08.400
is that the habits is not really
changed. So there's no optic persis because

629
00:48:08.400 --> 00:48:13.280
even things that you want are going
to go kind of like waiting your foreignferencing

630
00:48:13.440 --> 00:48:15.360
where people enjoyed trying to like get
narrow out of Nigeria are really quickly.

631
00:48:15.440 --> 00:48:19.320
So we said, like an uptake
if you could trying to get for recurrency,

632
00:48:19.400 --> 00:48:22.199
there's a massive demand from here,
but before it increases, we are

633
00:48:22.199 --> 00:48:25.280
trying to pay school fees, they're
trying to just get into buy things or

634
00:48:25.320 --> 00:48:30.519
important things. Pretty much like a
massive demand for effects where then said,

635
00:48:30.760 --> 00:48:35.559
but the other said is like they're
kind of like till you know this is

636
00:48:35.599 --> 00:48:37.159
gonna go up, so I'm going
to sell my USC, my pound or

637
00:48:37.199 --> 00:48:39.679
my card, you know, at
the highest possible rate. I think they

638
00:48:39.679 --> 00:48:43.960
can really predict what that's going to
be. But just you're just gonna see

639
00:48:43.960 --> 00:48:46.679
that behavior of just you know,
having to um massage command and your list

640
00:48:46.719 --> 00:48:51.760
supplier. As we have seen before, UM do we say to go up?

641
00:48:52.000 --> 00:48:55.239
I agree. So I have made
the point that in the last eight

642
00:48:55.320 --> 00:49:00.719
of the Niger are the best performing
asset you or if you like, if

643
00:49:00.719 --> 00:49:02.360
you simply put us does and you
put are you put it in the ground,

644
00:49:02.719 --> 00:49:06.639
are you out the ground, you
would have made more mond than if

645
00:49:06.639 --> 00:49:13.320
you bought stocks, property whatever.
Yeah. Yeah, so that's what are

646
00:49:13.360 --> 00:49:15.039
you saying. That's no, this
has not moved the need of that because

647
00:49:15.079 --> 00:49:21.000
of the CBING reforms. You might
have seen this big search in sending money

648
00:49:21.039 --> 00:49:23.960
back home. No, not really, not really because again everyone is thinking

649
00:49:23.960 --> 00:49:27.800
that we are going to go up. Right, So so I would say

650
00:49:27.840 --> 00:49:30.679
on everyday on the app, right, there's not been. It hasn't really

651
00:49:30.800 --> 00:49:32.519
changed the volume significantly. There's been. You know, you have you have

652
00:49:32.599 --> 00:49:36.440
great dig you have these regulars sending
any more send the nest. But then

653
00:49:36.920 --> 00:49:39.719
it's significant she has instually accordions.
That's because everyone is thinking this is gonna

654
00:49:39.760 --> 00:49:45.039
go trying to maybe head funds,
trying to compare it to Oh. So

655
00:49:45.119 --> 00:49:50.079
the great thing is that Kayoshi now
um launching a new feature in the community

656
00:49:50.079 --> 00:49:52.280
that lest of people are treating,
you know, to kind of like a

657
00:49:52.519 --> 00:49:55.000
kayak or what kinnot oat and sort
of able to come on Kayoshi and like

658
00:49:55.079 --> 00:49:59.280
select the best providers since you know
the sibling is going to open this up

659
00:49:59.280 --> 00:50:01.880
to every players. You have like
guys like Aldermads Black in the market as

660
00:50:01.920 --> 00:50:05.039
like to make this all that bigger, I am to use and I'll kind

661
00:50:05.079 --> 00:50:07.280
of come back into the market that
you know saying there as in Nigeria.

662
00:50:07.599 --> 00:50:09.480
So right now even to Commukayoshi in
the next one week, you know when

663
00:50:09.519 --> 00:50:14.000
you're able to pretty much you know
how we kind of shop of flights,

664
00:50:14.519 --> 00:50:15.559
you know, want to pick the
best flight for you, so you need

665
00:50:15.920 --> 00:50:20.519
Kayoshia and then select the best rematians
provider for you, um to send money

666
00:50:20.559 --> 00:50:27.440
back to. Yeah, Nigeria,
I I can come and pick who I

667
00:50:27.599 --> 00:50:31.519
want to send my money. Yeah, best rates, best fees, obvious

668
00:50:31.519 --> 00:50:36.000
securation gonna be the best rates.
But you have other players as well,

669
00:50:36.000 --> 00:50:37.239
and you know you want to stend
dollars back as well, So pretty much

670
00:50:37.239 --> 00:50:40.159
able to just come on it up
and just elect the best you know offer

671
00:50:40.280 --> 00:50:44.440
for your each keeping terms. Because
we've seen again we've seen rates different,

672
00:50:44.559 --> 00:50:49.159
we've seen ridiculous rate rates difference and
different providers in this time because of how

673
00:50:49.280 --> 00:50:52.880
unstable the rates are. So we
haven't seen a massive optic in terms of,

674
00:50:52.960 --> 00:50:54.199
like you said, in terms of
like people sending money back, it's

675
00:50:54.199 --> 00:50:59.239
not a massive significant optic. It's
been largely more or less disimple. We've

676
00:50:59.239 --> 00:51:04.559
seen a massive team man NERA said, we're gonna get kids into effects before.

677
00:51:04.960 --> 00:51:07.039
I think you are gonna, you
know, sky rockets. That's absolutely

678
00:51:07.199 --> 00:51:12.039
in terms of trends, people are
buying the dollar in nature, got to

679
00:51:12.079 --> 00:51:15.360
think the present will go up.
I'm trying to buy accounts, trying to

680
00:51:15.480 --> 00:51:17.679
pay these before. It's importing to
like these for two terms ahead of time,

681
00:51:19.159 --> 00:51:21.079
you know. So there's a lot
of your man in terms of the

682
00:51:21.760 --> 00:51:24.159
said So that was that ridiculous in
the last one week. Yeah that is

683
00:51:24.199 --> 00:51:28.119
good. That that's good. That's
good. Take you so so much for

684
00:51:28.199 --> 00:51:31.639
that, just hanging there, just
Alpha here, Yeah, thanks Alpha,

685
00:51:34.000 --> 00:51:36.840
something quickly is it? Sorry?
I think you focused something as well.

686
00:51:36.920 --> 00:51:39.360
So cal She also sends money to
I mean over forty countries in the world.

687
00:51:39.639 --> 00:51:42.920
And of course if you're not pay
you to show phase in the UK,

688
00:51:43.119 --> 00:51:45.880
Canada, for the US, you
can also use calci. I just

689
00:51:45.960 --> 00:51:50.920
taught you that quickly. And I'm
also the I'm also the person as well

690
00:51:50.960 --> 00:51:57.400
suggested. So anybody who knows your
good company represent don't worry touches your rights

691
00:51:57.840 --> 00:51:59.920
right spots to the continution to do
that. But yeah, are you the

692
00:52:00.199 --> 00:52:05.920
Alpha? Thank you so much?
Alpha, sunday Ala, what's happening?

693
00:52:06.079 --> 00:52:08.239
What are you coming in from America's
UK lung? Where are you coming from?

694
00:52:10.480 --> 00:52:15.599
Alpha? He says your speaker.
Okay, let's get puss in here,

695
00:52:15.639 --> 00:52:22.159
pus God, family and football.
What's happening? Sir Posio Posida speak

696
00:52:22.199 --> 00:52:30.719
to me of the side of let
me try Miller shields. Hello, yeah,

697
00:52:31.079 --> 00:52:36.119
yeah, I'm on now. Okay, thanks for this opportunity. And

698
00:52:36.559 --> 00:52:40.239
like the last peaker said, I
think the issue, yeah is the demand

699
00:52:40.480 --> 00:52:46.599
is much more than you know the
supply. On the supply side. ME

700
00:52:46.960 --> 00:52:53.119
run a small export company and then
back in the days during the May fail

701
00:52:53.239 --> 00:53:00.760
Eira, I share my export proceeds
into two Half goes into my normal Tom

702
00:53:00.880 --> 00:53:06.519
Sella account and a goes into my
n XP account. And then with the

703
00:53:06.679 --> 00:53:10.639
n XP account, I have access
to the dollar and then you know the

704
00:53:10.800 --> 00:53:14.960
bankers, they sell it to they
sell it to might be APP and I

705
00:53:15.079 --> 00:53:19.920
get that and then I coushion the
effect with the APP that goes into my

706
00:53:20.119 --> 00:53:27.400
normal cellaria combon. Now with the
effects our reforms, I take hundred percent

707
00:53:27.679 --> 00:53:30.480
to the n XP account. Still
I do have access to the dollar.

708
00:53:30.599 --> 00:53:36.360
But with the eye an e window, I think I have the power to

709
00:53:36.480 --> 00:53:39.079
sell conant to sell it at this
to so rate. If you can find

710
00:53:39.119 --> 00:53:43.960
me a buyer, let me ease
you you know the guide for you to

711
00:53:44.079 --> 00:53:50.599
sell. I think on the part
of the export, you get agequate rates

712
00:53:50.880 --> 00:53:54.320
compared to the you know, the
black market rates for now. That is

713
00:53:54.400 --> 00:54:00.239
what is working for the expert,
although we pay more in a nest is

714
00:54:00.679 --> 00:54:04.800
if I think you've been talking about
the export business, so you know next

715
00:54:04.840 --> 00:54:07.239
fees that we pay to the federal
government each time we are you know,

716
00:54:07.880 --> 00:54:15.559
exporting, So the expert the next
fees also they have changed it. Normally

717
00:54:15.800 --> 00:54:20.480
when the denier respect that are fourt
to six. Now the next fees as

718
00:54:20.519 --> 00:54:23.360
are the last two or three days
ago when I try to do it,

719
00:54:23.679 --> 00:54:29.519
it's now seven hundred and eighty nine. That is the federal government that you

720
00:54:29.599 --> 00:54:34.880
know, the CBN and the trade
man Agen system where we feel their next

721
00:54:34.960 --> 00:54:37.519
perform and every they have pected a
seven day and eighty nine. But the

722
00:54:37.639 --> 00:54:42.440
good thing is that when you get
your when we get our dollars, we

723
00:54:42.719 --> 00:54:47.559
can sell at even much more than
the black market treat as you know FMDQ

724
00:54:49.440 --> 00:54:54.039
stop you see there. So it's
favors people on the expert side. I

725
00:54:54.159 --> 00:54:59.559
really don't know why, Like some
of the speakers have said, I think

726
00:54:59.639 --> 00:55:05.159
that this one is this your uh
is you know, it's has attracted more

727
00:55:05.239 --> 00:55:08.400
people from the aspera. So I'm
speaking on you know, from the Nigerian

728
00:55:08.480 --> 00:55:14.360
side, because I'm still in Nigeria. So I so, so you are

729
00:55:14.480 --> 00:55:20.960
you are an ex yes? And
my next spotter so and I I export

730
00:55:22.000 --> 00:55:25.079
cash you not? And I export
I drive, I discause flower and that

731
00:55:25.320 --> 00:55:32.400
ginger gotcha. So this poltic has
only exposed to the city, to the

732
00:55:32.440 --> 00:55:36.880
official outside side. Look, yeah, I'll fish you, I'll fish your

733
00:55:36.880 --> 00:55:40.960
outside Okay, I'll cish, I
trade managerent system being around by CBIA.

734
00:55:43.039 --> 00:55:46.239
If you were, I believe in
the UK UK, would you do the

735
00:55:46.320 --> 00:55:51.400
same thing? Would you then more? Would you feel more commune when confirms

736
00:55:51.440 --> 00:55:53.559
as poltoms as well? Well,
if I'm in the UK. Even I'm

737
00:55:53.559 --> 00:56:00.639
based in the UK and I need
to drum business here, just like the

738
00:56:00.719 --> 00:56:06.840
guys in the UK said, the
environment in Nigeria doesen't favor you know you

739
00:56:07.079 --> 00:56:13.159
sending business, sending money for business
up keep here. The only thing is

740
00:56:13.280 --> 00:56:15.719
our advice that if you are you
know, stationed there, because if you're

741
00:56:15.800 --> 00:56:20.280
dead, you won't know what's going
on here, and it's might lead to

742
00:56:20.400 --> 00:56:23.519
trust issues. But really, when
somebody says when you go into the farm

743
00:56:23.960 --> 00:56:29.679
you are likely to be kidnapped,
it's the real fact. So it's the

744
00:56:29.800 --> 00:56:34.599
real fact. And if you you're
spending time in the UK or in the

745
00:56:34.760 --> 00:56:37.159
US, you think that what is
going on is see is my village or

746
00:56:37.239 --> 00:56:40.039
something like that, nobody can touch
to me. But it's the real fact.

747
00:56:40.360 --> 00:56:45.639
So if somebody says, okay security
fees when they're charging you and they're

748
00:56:45.639 --> 00:56:50.280
supposed to charge you one hundred thousand
are for a job, and they charge

749
00:56:50.440 --> 00:56:54.079
fifty thousand are extra for security fees, it's the real deal. And you

750
00:56:54.159 --> 00:56:59.880
know fifty thousand are taking some part
of the profits they are supposed to make,

751
00:57:00.159 --> 00:57:04.880
so I wouldn't know. It's based
on personal experiences. Just like the

752
00:57:04.960 --> 00:57:08.039
guy that said he loves Nigeria and
news. So in based on your personal

753
00:57:08.119 --> 00:57:12.360
convation. If you want to keep
sending money and if you have parents,

754
00:57:12.920 --> 00:57:16.480
I think sending money to your parents
is still part of the remittances. You

755
00:57:16.519 --> 00:57:22.239
have been talking about ultra so I
think the FX market needs that. But

756
00:57:23.079 --> 00:57:27.679
you know, people have lost,
you know, faith in the Nigeran system.

757
00:57:27.920 --> 00:57:30.880
They have been saying, especially especially
people that on the other side,

758
00:57:32.440 --> 00:57:37.760
it's it's based on their you know, personal beliefs. If you're not sure

759
00:57:37.280 --> 00:57:44.760
of what you're investing it investing in
here in Nigeria, please don't. If

760
00:57:44.800 --> 00:57:49.920
you can live with date everything,
please do. It's it's that is that

761
00:57:50.079 --> 00:57:54.199
it's your personal when you have worked
very very hard for it in an unimaginable

762
00:57:54.320 --> 00:57:59.960
you know, weather conditions over there. I would not tell you to waste

763
00:58:00.039 --> 00:58:04.159
seats on anything, but you know
in Nigeria, in Nigeria, you know,

764
00:58:04.880 --> 00:58:07.639
sorry to use this. I man, if you were reported and you

765
00:58:07.800 --> 00:58:12.320
know when a policy is out,
you already know. I don't know if

766
00:58:12.400 --> 00:58:15.000
anybody is dead that will command arrest. You already know who to contact that.

767
00:58:15.320 --> 00:58:21.280
You know you can't just do my
waga and bypasses, not that it

768
00:58:21.440 --> 00:58:24.800
might not be just like you posted
earlier. Uh in your one of your

769
00:58:24.880 --> 00:58:30.079
two wis avoiding tax is a legar
and you know are you not yet the

770
00:58:30.239 --> 00:58:34.800
wonder that you said it's legar.
So that is what you have to be

771
00:58:34.920 --> 00:58:40.320
up and being to make sure that
Okay, yes, you said something about

772
00:58:40.440 --> 00:58:44.880
tax avoiders and the attacks. You
know, you just have to you know,

773
00:58:44.960 --> 00:58:47.840
when you invest the money, you
have to pit for tax. It's

774
00:58:47.880 --> 00:58:52.079
too good as long as you can
prove it. That's what most people are

775
00:58:52.159 --> 00:58:55.800
doing. So uh, it's it
depends if you don't want to send your

776
00:58:55.840 --> 00:59:01.920
money back at home. Fine,
but for a Nigeria state, which Nigeria,

777
00:59:02.000 --> 00:59:07.119
just if they're not you know,
defending the dollar or defending the nia

778
00:59:07.559 --> 00:59:12.280
just like where it did. The
money I have to go into meaningful things

779
00:59:12.559 --> 00:59:15.960
like the security, like power,
like education. Those are the three key

780
00:59:16.079 --> 00:59:24.239
things. What about line cruisers?
What about we we we know we know

781
00:59:24.400 --> 00:59:30.599
that this people will spend money on
those things. We know it's wasteful.

782
00:59:30.119 --> 00:59:35.559
It's it's you know, an honorary
person that could not really afford that will

783
00:59:35.639 --> 00:59:38.599
now you know cannot afford it just
four years. It was going to spend

784
00:59:38.679 --> 00:59:45.119
four years being sorry to say absolutely
nothing when it comes to helping the ordinary

785
00:59:45.199 --> 00:59:50.079
people. It's watful, but as
a Nigeria and there's absolutely nothing we can

786
00:59:50.159 --> 00:59:52.639
do. We don't have the power
really to you know, to prevent that.

787
00:59:52.840 --> 00:59:58.760
We don't have the power. The
constitution doesn't empowers to say we don't

788
00:59:58.880 --> 01:00:02.239
usuld not buy that card. Constitution
doesn't empowers that. I used to change

789
01:00:02.360 --> 01:00:06.440
yep, I hear you right,
so that I think there are things,

790
01:00:06.519 --> 01:00:13.280
many things, but to acoid big
social media's friend. If we scream enough

791
01:00:14.440 --> 01:00:21.760
yeah on die die. The only
in Nigeria that does not do a line

792
01:00:22.880 --> 01:00:29.559
one day of their forget forget in
the National Assemble Assemble Yes citens social line

793
01:00:29.599 --> 01:00:37.760
by National Securtary Advisor is going by
life by life o emationally imation not do

794
01:00:38.000 --> 01:00:45.519
line by why why they are fraid
afraid that it would light them? They

795
01:00:45.559 --> 01:00:49.599
are They are freedom, They are
freedom and social social media. I say

796
01:00:51.159 --> 01:00:59.840
copy your copy yea yea shows us
bending your money on you by So when

797
01:00:59.840 --> 01:01:07.760
they come to the US, them
on the pressure, Well for me with

798
01:01:07.840 --> 01:01:13.039
them, put them on the pressure. Talking about line crew. While you

799
01:01:14.079 --> 01:01:17.039
don't put on that pressure, pressure
not happen. Many things you can you

800
01:01:17.079 --> 01:01:23.199
can put those guys. Yeah,
yeah, it's an I do and and

801
01:01:23.360 --> 01:01:29.480
and I do environment and I do
setting like the UK or the US,

802
01:01:29.679 --> 01:01:34.079
all those things can work, but
it's Nigeria. Let me get premium both

803
01:01:34.199 --> 01:01:44.199
days. IoT hoping? Um okay
everyone. So the reason why I actually

804
01:01:44.320 --> 01:01:49.440
request that is, I know,
the speaker from Koshi or something. I

805
01:01:49.480 --> 01:01:54.800
don't know if I'm pronouncing cursedly had
said that there's been really no optics or

806
01:01:55.360 --> 01:02:02.000
um high you know, inflow from
like regular sources, like influming money in

807
01:02:02.039 --> 01:02:10.679
dollars. I just really, I'm
not really sure that the narrative that you

808
01:02:10.800 --> 01:02:15.159
know, people, I'm not sure
that the narrative of the reason why people

809
01:02:15.159 --> 01:02:20.800
are not bringing in money is really
accurate. And the reason why I would

810
01:02:20.880 --> 01:02:24.440
say that is, I mean,
when you're living abroad, you're only bringing

811
01:02:24.480 --> 01:02:31.920
in narrow based on demand. The
optics are you know, influx of money

812
01:02:32.000 --> 01:02:37.519
can only come in from ie right. The investors who are actually bringing in

813
01:02:37.679 --> 01:02:40.400
money for a purpose, and those
are the people that would actually look at

814
01:02:40.599 --> 01:02:45.840
rates and all that stuff before they
bringing money, because they would also need

815
01:02:45.880 --> 01:02:47.519
to take out that money at some
points in time. Maybe they brought in

816
01:02:47.599 --> 01:02:52.760
money is for maybe Cci or loan
or something like that. But the regular

817
01:02:52.920 --> 01:02:58.199
you and I will influ money influre
money based on demand because I need this

818
01:02:58.360 --> 01:03:02.079
money at this particular point in time
and to do something either for family purposes

819
01:03:02.159 --> 01:03:07.239
for narrow obligations. So I'm not
simply going to wait until the rates picks

820
01:03:07.519 --> 01:03:13.559
for me to process those transactions,
because those are transactions based on demand.

821
01:03:13.679 --> 01:03:16.199
I need to send money to my
folks, I need to buy something,

822
01:03:16.920 --> 01:03:20.599
you know, or I just need
to keep some extra cash. I'm not

823
01:03:20.679 --> 01:03:24.280
bringing in moneys to invest, So
rates picking up in like two or three

824
01:03:24.360 --> 01:03:28.920
months or in like three weeks,
it's not going to really affect what I'm

825
01:03:28.960 --> 01:03:31.639
going to do. So I mean, that's just I'm just saying that,

826
01:03:32.000 --> 01:03:37.000
accepting there's a metrics to say that
that is why people are holding back.

827
01:03:37.480 --> 01:03:40.679
We need to understand that we can
really control the Russian now behind how individuals

828
01:03:40.719 --> 01:03:44.880
sending money, because it's really based
on demand. Even if I want to

829
01:03:44.880 --> 01:03:46.480
buy a house, the house is
not going to continue to remain in the

830
01:03:46.559 --> 01:03:50.760
market for me. So even if
I know that the rates would go up

831
01:03:50.800 --> 01:03:53.480
by one hundred nine and it's going
to favor me in a month, I'm

832
01:03:53.519 --> 01:03:57.480
not going to tell the seller to
keep their house for another one month for

833
01:03:57.639 --> 01:04:00.679
me so that the rates can favor
me. So I don't know if that

834
01:04:00.760 --> 01:04:03.360
makes sense. I'm just saying that, except we have some metrics to really

835
01:04:03.400 --> 01:04:11.119
show consumer behavior. Yeah, yeah, I think the point I heard them

836
01:04:11.199 --> 01:04:15.599
say was that if I am in
Nigeria and then I was seven ninety last

837
01:04:15.679 --> 01:04:19.159
week and I think the dollar's going
to go to eight donor in turn this

838
01:04:19.320 --> 01:04:26.880
week, I will and buy.
I will demand more dollars because in Nigeria

839
01:04:27.400 --> 01:04:30.880
can I can buy. I can
impulse by because I think the rates will

840
01:04:30.920 --> 01:04:33.880
go out, But if I'm abroad
right, I can't. I'm not going

841
01:04:33.960 --> 01:04:38.599
to move money, is what I'm
talking about. The influx now, the

842
01:04:38.760 --> 01:04:44.239
inflow of dollars into the Nigeria.
The only people that we can really determine

843
01:04:44.280 --> 01:04:47.960
their behavior or controlling metrics is like
I eat. People are actually bringing money

844
01:04:48.000 --> 01:04:50.920
to invest and at some points in
time they need to take dollar out.

845
01:04:51.400 --> 01:04:57.360
The regular individuals are only doing.
It's based on demand. So I don't

846
01:04:57.400 --> 01:05:01.360
really think that the narrative to say
that people are holding back because they feel

847
01:05:01.440 --> 01:05:04.280
like the rates is going to go. If I need to send money to

848
01:05:04.360 --> 01:05:08.880
my folks, I'm not going to
tell them to hold back for two weeks

849
01:05:08.920 --> 01:05:11.840
to a month because I think that
the rates will go up and favor me.

850
01:05:12.199 --> 01:05:14.760
Even if I need to buy a
house, I'm not going to do

851
01:05:14.920 --> 01:05:17.800
that because I but what what if
I was building a house like you said,

852
01:05:17.840 --> 01:05:21.079
If I'm buying a house and Nigeria
and rates are going to and buy

853
01:05:21.119 --> 01:05:25.119
the house with less dollars? Okay, So if I'm buying a house,

854
01:05:25.280 --> 01:05:29.199
the person is building the house for
you, right, is a person going

855
01:05:29.280 --> 01:05:32.039
to wait? So if you hire
like you, if you hire like I

856
01:05:32.199 --> 01:05:35.960
build that it's not only your own
property that you'll do if you know that

857
01:05:36.119 --> 01:05:40.360
it's going to take a week.
I can't understand that. But I rustional

858
01:05:40.519 --> 01:05:44.519
to lock people down even if you're
building a house because you think that the

859
01:05:44.719 --> 01:05:47.719
rates is going to pick up in
two weeks time. You know those people

860
01:05:47.719 --> 01:05:51.440
are not loyal. They're not going
to see that wait for you detail tomorrow.

861
01:05:51.519 --> 01:05:55.840
And you don't say this if I'm
building a house, you don't pay

862
01:05:55.840 --> 01:05:59.039
a hundred percent. You pay them
as you get money. So if iind

863
01:05:59.159 --> 01:06:02.320
if I have a hundred dollars money
and no I can get any t k

864
01:06:02.719 --> 01:06:05.880
on Monday, and if I sent
this week, I get seventy K.

865
01:06:06.440 --> 01:06:10.760
I'll wait. Yeah, I hear
you, but I'm just saying I hear

866
01:06:10.880 --> 01:06:13.639
you. But in a day or
two they tell you to send money,

867
01:06:13.679 --> 01:06:15.760
you don't send money. You're sitting
on the dollar because you think it's gonna

868
01:06:15.880 --> 01:06:18.519
move. Hey, I don't really
know how many people who feel that,

869
01:06:18.639 --> 01:06:25.400
but I hear you. I cannot
respond to that really quickly. Extra,

870
01:06:25.559 --> 01:06:29.880
go ahead. Yeah. So the
question was if we said that there was

871
01:06:29.920 --> 01:06:34.480
a change in behavior of people sending
money back because of the reforms, Right,

872
01:06:34.519 --> 01:06:39.599
that was a question. And then
I said that there was no change

873
01:06:39.639 --> 01:06:43.159
in behavior or significant that that was
a response. Right, It wasn't there

874
01:06:43.280 --> 01:06:45.440
There was no change because people are
sending any back. We send money back,

875
01:06:46.559 --> 01:06:49.039
right, But we saw more of
an uptake and the into the narrow

876
01:06:49.079 --> 01:06:53.920
side, we had more you know, more demand for effects in the narrow

877
01:06:53.960 --> 01:06:57.039
side as opposed to you know,
people on the supply side. Now,

878
01:06:57.519 --> 01:06:59.880
when we have data that shows that
if you want to send many back to

879
01:07:00.360 --> 01:07:03.440
will have different reasons for nageria they
have. We have people sending many money

880
01:07:03.480 --> 01:07:08.159
back for like family and family and
friends or keep you have guys send the

881
01:07:08.199 --> 01:07:11.480
money back just to you know,
I guess pay for gifts to the loved

882
01:07:11.559 --> 01:07:15.119
ones. Things that a lot maybe
planned expenditures. I have about twenty percent

883
01:07:15.119 --> 01:07:16.679
sent them back for investment. To
have people that actually send money back to

884
01:07:16.800 --> 01:07:21.239
Nigeria for things like estruti, you
know us beauty and houses, for things

885
01:07:21.280 --> 01:07:25.239
that you're trying to may be investing
in the particularly they're some kind of corporative

886
01:07:25.280 --> 01:07:28.400
or anything. So and this this
these investments have you know, they have

887
01:07:28.519 --> 01:07:31.880
their required to particular points. So
if I think that you know, Mania

888
01:07:31.960 --> 01:07:35.159
is going to be more in the
next one week, if I send the

889
01:07:35.280 --> 01:07:39.480
money back, may supposed to send
twenty kid is corporative and the Maneria is

890
01:07:39.519 --> 01:07:41.599
going to be more in the next
one week, you know, I'm actually

891
01:07:41.639 --> 01:07:44.679
be for that time. So the
different reasons for sending money back, you

892
01:07:44.800 --> 01:07:49.239
know, um would obviously would obviously
push or their different behaviors. So obviously

893
01:07:49.280 --> 01:07:51.039
not the one's going to wait for
that. But the people that have the

894
01:07:51.079 --> 01:07:57.880
reasons to to believe and the obviously
might be wrong or right can actually wait

895
01:07:57.960 --> 01:08:00.559
for you know, their money to
actually have but they allowed to have more

896
01:08:00.679 --> 01:08:04.679
narrow value for the semney back.
So just actually speaks to differentasons where people

897
01:08:04.679 --> 01:08:08.639
same money back to Nigeria. In
the first pason that you do speak for

898
01:08:08.679 --> 01:08:14.000
the general behavior of your typical immigrants
tending back money from the dask person Nigeria.

899
01:08:14.639 --> 01:08:17.199
I think that you do need that's
clear to you. All right,

900
01:08:18.239 --> 01:08:25.800
I hear you? Okay, awesome, put us u. What's happening?

901
01:08:25.840 --> 01:08:30.079
You've had a war talking about where
are you coming from? Are you where?

902
01:08:30.239 --> 01:08:33.359
Yeah? I am in the UK
right now, okay, so yeah,

903
01:08:33.800 --> 01:08:38.920
right, we'll finding out from you
if if the remittances are you do

904
01:08:39.079 --> 01:08:43.279
cerementances? Has it gone up or
down? Pick up the new policy and

905
01:08:43.399 --> 01:08:46.800
then what's your take on really what's
happening really or overall? Yes, Um,

906
01:08:48.159 --> 01:08:54.720
I feel you also be all out
you know, fear and Nigeria.

907
01:08:55.199 --> 01:09:00.600
We have multificitative problem on our hands. What I view with you, I've

908
01:09:00.680 --> 01:09:03.479
not really been sending money home and
it's not Um, it's not because of

909
01:09:03.720 --> 01:09:10.159
the I'm trying to hold my money
or because of the of surgeon. UM

910
01:09:11.439 --> 01:09:15.520
feel of director that is that we
have right down. But what I feel

911
01:09:15.600 --> 01:09:21.680
is um were has lots of problems
that we need to be solved. There

912
01:09:21.800 --> 01:09:26.600
was a time I saw I saw
all these tweeters, and we've always been

913
01:09:26.640 --> 01:09:30.760
saying it. If you say you're
gonna want to float general and we still

914
01:09:30.800 --> 01:09:34.800
have some of our good still on
the exclusive is that those kind of things

915
01:09:34.880 --> 01:09:39.880
places pressure on the dollar because just
people have still have to go into the

916
01:09:39.960 --> 01:09:43.439
market to look for those dollars.
I worked in it mat before before I

917
01:09:43.520 --> 01:09:46.760
left, Before I left, and
some of us said these things were paying

918
01:09:47.000 --> 01:09:51.560
subsidizing the education, putting it back
into the putting it somewhere in the in

919
01:09:53.119 --> 01:09:57.920
the UK economy or or anywhere people
go to would definitely hold us. There

920
01:09:58.039 --> 01:10:00.800
was the time I was working about
we remy tell over thirteen million dollars in

921
01:10:00.880 --> 01:10:04.960
one week to the UK thirteen million
dollars. And that money is not coming

922
01:10:05.039 --> 01:10:09.279
back. I mean, what's the
passage of people that go outside the country

923
01:10:09.760 --> 01:10:14.439
that come back into the community,
that contribute to our community, the resect.

924
01:10:14.479 --> 01:10:17.399
Though we don't have that, We
don't have our people, so that

925
01:10:17.560 --> 01:10:20.680
means we are losing that money.
That money isn't coming back. And I

926
01:10:20.720 --> 01:10:25.439
also agree with the last one last
person, we don't have data to support

927
01:10:25.520 --> 01:10:28.199
anything that was with that. Okay, when people said Bunny back home,

928
01:10:28.560 --> 01:10:31.119
we just like we viewed our seas. We give people what does it drinks

929
01:10:31.119 --> 01:10:35.079
to your courney? Are we do
we doing? Are we export driving or

930
01:10:35.079 --> 01:10:39.079
we are import driving? We are
definitely import driving right now we need more

931
01:10:39.119 --> 01:10:43.520
money to come. In January generalist, I went to the Canary realized can

932
01:10:43.680 --> 01:10:46.920
Realist is just maybe a little bit
of maybe, let let's say landmask not.

933
01:10:47.199 --> 01:10:50.479
I don't think it to give you
not to surface Nigeria. They had

934
01:10:50.520 --> 01:10:56.760
over thirteen million people visiting every year, thirteen million people. We have already

935
01:10:56.760 --> 01:11:00.600
stalked about tories bringing tourism. They're
showing parsecurity when you're talking to is that?

936
01:11:00.840 --> 01:11:03.640
Why don't content you? I have
to get the visa we have.

937
01:11:04.640 --> 01:11:09.880
We have policies in place, the
Humpire, the umpire investors confidence and also

938
01:11:09.960 --> 01:11:12.239
like what we do all to do
with They said, how why would I

939
01:11:12.359 --> 01:11:15.159
Why would I invest my money in
ingerl whether I can where I can go

940
01:11:15.239 --> 01:11:18.399
to world a stable markets and get
high us. Look at the way Force

941
01:11:18.439 --> 01:11:21.239
Branciars behaved in just like the afford. If I was an investor, would

942
01:11:21.279 --> 01:11:25.159
hire one to investment money that kind
of in that kind of system, No,

943
01:11:25.319 --> 01:11:27.920
no one would do that. But
what what I think we need to

944
01:11:28.000 --> 01:11:30.720
do is our governings needs to be
seen here as said, look at the

945
01:11:30.800 --> 01:11:33.880
national as same day. No one
can even no one can even put that

946
01:11:33.960 --> 01:11:39.199
kind of people we arrested were arrested
the Cibian governor put in the market,

947
01:11:39.239 --> 01:11:42.720
the market would definitely do react.
Investors are not stupid. I cannot go

948
01:11:42.800 --> 01:11:45.560
to anybody look at talking. We
cannot look at look at what's something talking?

949
01:11:45.800 --> 01:11:47.319
If you have a lot to us
in fact interference that in our in

950
01:11:47.399 --> 01:11:51.039
our montary policy. We should be
said speeded by diciblion. We have a

951
01:11:51.119 --> 01:11:55.920
problem on our hands. We have
a system that the physical monitor policy is

952
01:11:56.359 --> 01:12:00.119
outlo guides most of the time.
Discibian Governor is there I cannot no no,

953
01:12:00.359 --> 01:12:03.119
no saying investment in this world we
invest in injury. That if I

954
01:12:03.239 --> 01:12:06.760
know that if I notice the present
can just permit any day it doesn't like

955
01:12:06.840 --> 01:12:11.279
to be good and can't just extending
and putting me and putting in in detention.

956
01:12:12.359 --> 01:12:15.760
We need to find a way to
ammonize our policies. We need to

957
01:12:15.880 --> 01:12:18.319
our citizens how to speak it that
there's no way, there's no there's no

958
01:12:18.479 --> 01:12:23.399
passports. We get there's no part. We will still be told we are

959
01:12:23.399 --> 01:12:30.840
an injurious socials just told us now
that we can travel to Satis. Look

960
01:12:30.880 --> 01:12:34.279
like there's nothing we can do.
So we need we need to build it

961
01:12:35.039 --> 01:12:40.239
to to just puttials. We have
one problem. It is just one problem.

962
01:12:40.560 --> 01:12:44.119
We have supplies. You if that
if we don't have that, supplies

963
01:12:44.199 --> 01:12:45.800
you. If you don't, if
you don't solve that supplies you solve those

964
01:12:45.840 --> 01:12:49.359
portunis, we will still continue to
have it. This is prising what any

965
01:12:49.520 --> 01:12:54.880
will just maybe just just do maybe
our little things. To me, there's

966
01:12:54.960 --> 01:12:58.720
nothing we need to do. We
need to export and we need those moneys

967
01:12:58.720 --> 01:13:02.920
to come back into country. That
is the only way that despite as individuals

968
01:13:03.000 --> 01:13:08.479
with me to find ways of helping
the country bringing in investors into the country.

969
01:13:08.680 --> 01:13:13.880
That is that is thank you you
see me as as the humble lawyer

970
01:13:14.079 --> 01:13:17.840
Nigerian, I'm doing spaces to drag
my data. Asper why they're not bringing

971
01:13:17.960 --> 01:13:23.399
my series my own contribution to No, you're laughing, but it's true.

972
01:13:23.560 --> 01:13:30.359
See yeah, yeah, it is
true because I know, yeah that I

973
01:13:30.439 --> 01:13:33.479
want put to hear the problem.
You know, because I'm the finance guy.

974
01:13:33.640 --> 01:13:39.399
I know the Citian positive dom to
practice for our investment is school.

975
01:13:39.399 --> 01:13:44.279
They've done the good politics on paper. We also have some things that to

976
01:13:44.399 --> 01:13:50.039
me were shocking. You are asking
Nigerians to sacrifice and you're spending forty billion.

977
01:13:50.520 --> 01:13:56.159
You are patting these budget for for
what was it? What palliatives?

978
01:13:56.359 --> 01:14:00.439
Is shocking to me that the optics
they don't know what optics means and they

979
01:14:00.479 --> 01:14:05.720
don't care about time. I am
not sports space, so I really would

980
01:14:05.800 --> 01:14:11.039
like to hear full to talk about
really why the sports are not really working

981
01:14:11.119 --> 01:14:13.479
for them. That's the way I'm
going to Let's get a militia. I've

982
01:14:13.479 --> 01:14:15.560
got militia. What's up, aren't
you? Yeah? Yeah, militias?

983
01:14:15.600 --> 01:14:24.319
Are you know a piss nat?
Hello? Believe in everybody. I'm fine.

984
01:14:24.560 --> 01:14:29.199
I the outside. The injury are
boll I spent a lot of time

985
01:14:29.279 --> 01:14:33.479
in the injury of late. Each
time I come around, I spent like

986
01:14:33.760 --> 01:14:38.880
two or three months because I think
it's a high time for me to be

987
01:14:38.960 --> 01:14:44.840
looking back home. I'm kind of
tired of abroad, but lately, damn

988
01:14:45.199 --> 01:14:50.319
kind of skeptical about this. I'm
really looking from back home because nothing is

989
01:14:50.439 --> 01:14:56.279
improving like now. Back to the
point my thought, I'll be asking a

990
01:14:56.359 --> 01:15:00.800
lot of questions that I want people
to think about. You may not answer

991
01:15:00.920 --> 01:15:03.640
me. It's not necessarique for you
to answer me. But I'll be asking

992
01:15:03.680 --> 01:15:11.159
a lot of questions. Yeah.
The fourth question is do you you die

993
01:15:11.319 --> 01:15:15.800
on this place? Do you think
that the government we have in the Injuria

994
01:15:16.920 --> 01:15:24.239
are serials about the Injuria and then
Injurians in a woman abroad? Keep that

995
01:15:24.600 --> 01:15:29.680
one side. Do you think they
have the mental capacity? Do you think

996
01:15:29.840 --> 01:15:38.159
they have the intellectual capacity to change
things around I I'll be representing people from

997
01:15:38.239 --> 01:15:42.199
the streets. I'll be very clear
in the Injurer, A proud one at

998
01:15:42.279 --> 01:15:46.960
that. I own a estate.
I'm into property. I get contracts from

999
01:15:47.600 --> 01:15:53.279
independent people, people from abroad,
people in n Injuria. Yeah, I

1000
01:15:53.439 --> 01:16:00.800
do contracts building saftrain, right boards. I RepA send the illiterate class.

1001
01:16:01.319 --> 01:16:06.800
Because I'm be bricklear. People look
at me as oh, it's a brickler,

1002
01:16:08.279 --> 01:16:13.279
let's pushhim aside. No. Right. A lot of people have been

1003
01:16:13.359 --> 01:16:23.560
talking about this effecting a lot of
financier We call it jagons, not jagons,

1004
01:16:23.720 --> 01:16:29.960
big big grammars. We on the
street, we on the construction side,

1005
01:16:30.079 --> 01:16:33.800
we don't understand this. But the
little we understand, we know that

1006
01:16:34.439 --> 01:16:40.439
you people that are speaking big big
grammars, the politician, the elites.

1007
01:16:42.359 --> 01:16:47.479
We sometimes think that are you with
your senses at all? You want to

1008
01:16:47.600 --> 01:16:56.439
turn around the country for better,
You are not increasing your production elementary economies.

1009
01:16:57.159 --> 01:17:03.640
In secondary school we learn about treat
deficits. We learn about trade supplers.

1010
01:17:04.079 --> 01:17:11.920
How can your currency be strong when
you producing nothing? When your unemployment

1011
01:17:12.079 --> 01:17:15.880
really is thirty thirty to forty percent? You know, going no where,

1012
01:17:16.359 --> 01:17:20.920
It's not going to happen, miracle, don't do it. You have to

1013
01:17:21.479 --> 01:17:29.479
go back to production. You have
to put your youth back into factories.

1014
01:17:30.319 --> 01:17:36.279
You have to produce what you consume
locally and where you export the excess.

1015
01:17:36.880 --> 01:17:43.479
I'm on a literate I don't consider
myself to be learned in finance. Why

1016
01:17:43.760 --> 01:17:51.199
know the law of demand and supply? My economy is based on importation.

1017
01:17:51.800 --> 01:17:59.159
Everything is important to pick his important
pains to his important head. Plan are

1018
01:17:59.279 --> 01:18:06.720
important, clothes are important. We
are big importations. How do how do

1019
01:18:06.840 --> 01:18:13.600
you increase the value of your nira
when all your youths with full of energy?

1020
01:18:14.199 --> 01:18:18.439
They are the nira bets offices here
and there, the girls they are

1021
01:18:18.720 --> 01:18:29.439
doing, cars, people walking.
I don't know how things are like.

1022
01:18:29.760 --> 01:18:34.680
Everything is okay, it's not okay. It's not gonna be okay when your

1023
01:18:34.920 --> 01:18:41.479
National Assembly members called just all of
it adi, I want to go buy

1024
01:18:41.920 --> 01:18:47.439
videos of the A word of important
cars. Why we have indos in there?

1025
01:18:48.800 --> 01:18:55.039
Man, sir, this is amazing. I hear you. I think

1026
01:18:55.199 --> 01:18:59.680
you're impressing. You're expressing the truth
of the Nigerians. You know, and

1027
01:19:00.279 --> 01:19:06.119
you said, is it's wrong.
Every Nigerian is an economist. Every Nigeria.

1028
01:19:06.399 --> 01:19:10.840
I see this all the time on
Twitter. Every Nigeria is an economists

1029
01:19:11.439 --> 01:19:16.600
because we react to policies. The
problem is that every Nigerian believe that they

1030
01:19:16.640 --> 01:19:23.840
are powerless in changing outcomes. That's
where the problem has in Nigeria. We

1031
01:19:24.039 --> 01:19:29.840
all know that the guys buying jeeps
is somehow bad for the economy. Even

1032
01:19:29.920 --> 01:19:33.000
though we are not trained in finance. We know that if the government official

1033
01:19:33.199 --> 01:19:39.319
goes and buys forty billion worth of
important jips, it's bad. Some adom

1034
01:19:39.720 --> 01:19:43.760
then what's bad. And we also
that if they fix your route to my

1035
01:19:44.039 --> 01:19:47.159
village is good for the economy.
I don't know how to explain why it's

1036
01:19:47.159 --> 01:19:51.039
good, but it's good for the
economy. So you don't have to get

1037
01:19:51.039 --> 01:19:55.199
an economist, because you have a
BSc. In economists, you just have

1038
01:19:55.319 --> 01:20:01.920
to understand common sense, how it
makes sense to import petrol when you have

1039
01:20:02.119 --> 01:20:05.800
crude oil in your country and love
pixel refineries. We know all the stuff,

1040
01:20:05.840 --> 01:20:09.960
you know, we get it.
But I want to be a bit

1041
01:20:10.800 --> 01:20:12.960
I don't know what's the world.
I want to be a bit specific,

1042
01:20:13.039 --> 01:20:16.079
you know. I want to eat
possible, help the government to see sometimes

1043
01:20:16.119 --> 01:20:21.399
the rightest policies and if they are
fluting the air, then mister mister Carlo,

1044
01:20:21.880 --> 01:20:30.119
sorry to I don't want to history
to interject, and I'm taking sorry

1045
01:20:30.159 --> 01:20:38.359
to interject. I made it tweat
about a year ago addressing I addressing to

1046
01:20:38.920 --> 01:20:45.439
take governments, federal government. I
kind of take up a role like Europe

1047
01:20:45.520 --> 01:20:51.479
play a governor, I said,
as I'm from making it stayed right,

1048
01:20:51.760 --> 01:20:58.399
I said, as the call incoming
it is bad government. I'm going to

1049
01:20:58.520 --> 01:21:02.520
formulated policy that's going to bring people
from the diaspora back to eight. It

1050
01:21:02.680 --> 01:21:09.520
is state to invest in the kitty
state. I share this idea with Oluamo.

1051
01:21:09.880 --> 01:21:13.079
I'm some mothers. We were supposed
to push it a little bit,

1052
01:21:13.640 --> 01:21:17.359
but we did not, I said, as a governor of his state I'm

1053
01:21:17.399 --> 01:21:27.279
going to bring every year five hundred
dasporan Akity citizen back to ak it Is

1054
01:21:27.319 --> 01:21:30.600
States to invest. They're going to
come with their foreign currency to e it

1055
01:21:30.720 --> 01:21:35.520
Is state. Whatever your trade is
in the abroad, I will create an

1056
01:21:35.680 --> 01:21:42.039
enabling environment for you to invest in
the Kitty State. It is called tasper

1057
01:21:42.279 --> 01:21:45.399
Hale. I will have mission.
I hear you. I hear you.

1058
01:21:45.439 --> 01:21:47.600
I'm gonna rotate the room, right, I hear you, right, I

1059
01:21:47.680 --> 01:21:50.319
hear rotate room. And the point
I'm trying to get. I'm gonna trust

1060
01:21:51.199 --> 01:21:56.279
space s perspect to this rematances X
policies. It's in good the bad.

1061
01:21:56.439 --> 01:21:58.960
Are you bringing the stop? I
completely hear you. I agree with you.

1062
01:21:59.199 --> 01:22:03.760
I mean I let you. Yeah, so were well n's limpoint that

1063
01:22:03.840 --> 01:22:06.600
way. Let me get since I
go to, I go to. I

1064
01:22:06.720 --> 01:22:11.640
got you on the line. You've
got to floorsa go ahead implicit. If

1065
01:22:11.680 --> 01:22:14.399
I do take you off, it's
just to add other people. I'm not

1066
01:22:14.520 --> 01:22:15.960
taking you off because what they're saying
the room. So I got to you

1067
01:22:16.079 --> 01:22:21.119
got to FLOORSA to brill. Please
go ahead to brill. It's not ready

1068
01:22:21.239 --> 01:22:27.119
to brial Ali. You've got to
floor ahead. Um. Good Davie.

1069
01:22:27.560 --> 01:22:31.359
I don okay, I'm doing it. I lave you from good nesttate there

1070
01:22:32.600 --> 01:22:40.520
okay, so um, according to
what the militiation he's thinking about, he's

1071
01:22:40.560 --> 01:22:45.279
thinking about all the Nigian people.
Most of need that they have selfish nation

1072
01:22:45.399 --> 01:22:49.880
that I might they have the center
nation. Gotcha. But let ask the

1073
01:22:49.960 --> 01:22:54.119
question are you are you like?
Are you a meeting money? U?

1074
01:22:54.600 --> 01:22:58.960
Where your business Nigeria? Yeah,
I'm busing and yeah I'm working in a

1075
01:23:00.000 --> 01:23:06.840
jam for this pension. Bet you
aware for this pension that we got you.

1076
01:23:09.119 --> 01:23:12.920
What's your take on the CBN policies. We're trying to talk about the

1077
01:23:13.039 --> 01:23:16.680
remittance of foreign currency from Nigeria,
so brought back to Nigeria. We're asking

1078
01:23:16.840 --> 01:23:21.439
the new central about policy he's making
it better or have no effect? You

1079
01:23:21.520 --> 01:23:27.800
have to take on that too,
No, I don't have I don't have

1080
01:23:28.039 --> 01:23:31.479
idea on that. I'm trying to
answer the question about what militiation, but

1081
01:23:31.720 --> 01:23:35.479
I don't have any idea. Yeah, I do approliest I'm going to keep

1082
01:23:35.479 --> 01:23:40.760
it on that for a pick if
you don't mind, Okay, Yeah,

1083
01:23:40.920 --> 01:23:43.199
I do appreciate you, sir.
All right, So I've got everything,

1084
01:23:43.279 --> 01:23:48.520
Satoshi go ahead, So, hi
guys, I have a question for elimitate

1085
01:23:48.760 --> 01:23:56.039
yourself and then the Choochi people.
The first question illimited is in I think

1086
01:23:56.079 --> 01:24:02.680
he was citing the Nirometrics tweets where
they were talking about the the reduction in

1087
01:24:02.800 --> 01:24:09.880
remittances. Um, My question is
genuinely and as do you think that those

1088
01:24:10.000 --> 01:24:15.640
numbers are doctor? Uh? And
does that matter? H that that's that's

1089
01:24:15.720 --> 01:24:20.119
my first question. Although the the
there is a decline whether or not significant.

1090
01:24:20.800 --> 01:24:25.880
UM, I share to some people
that tweet and that was just our

1091
01:24:26.000 --> 01:24:30.560
question, but I don't know those
those numbers were doctored. And the seven

1092
01:24:30.720 --> 01:24:35.039
question is uh, um, I
think there's someone who was talking about the

1093
01:24:36.159 --> 01:24:42.760
the first bank shares and the manipulation
and the X it doesn't really one hundred

1094
01:24:42.760 --> 01:24:45.000
percent relate to the FX market,
but it sort of does. Honestly.

1095
01:24:45.359 --> 01:24:49.399
I also wanted you to talk about
that the manipulation on there. And then

1096
01:24:49.520 --> 01:24:57.680
to the Kaochi people, Um I
did click on the website, so apparently

1097
01:24:58.399 --> 01:25:03.079
for the k KYM I have to
I needed them to speak on that,

1098
01:25:03.960 --> 01:25:06.840
whether or not. I always had
to q R to him because their international

1099
01:25:06.880 --> 01:25:13.680
company and all of that, and
then how do they deal with fees under

1100
01:25:13.760 --> 01:25:18.359
the hoood. What makes it very
smooth because she spoke about settlemental funds within

1101
01:25:18.520 --> 01:25:24.399
minutes, canna get to ours and
and whatnot in terms of convenience. Yeah,

1102
01:25:24.439 --> 01:25:27.399
those are not my questions. I'll
give them very very quick, very

1103
01:25:27.600 --> 01:25:30.039
Quickted, I think why would they
doctor the feast? I mean if fists

1104
01:25:30.079 --> 01:25:34.479
show the CBN primatizes, why would
it be doctor because it shows that they're

1105
01:25:34.520 --> 01:25:39.720
getting less. If you compare what
they posted today to what they posted last

1106
01:25:39.800 --> 01:25:44.239
year, today's less and I think
it's only for Q one. So I

1107
01:25:44.279 --> 01:25:49.079
think the answer I got was because
that was when we had the nira change

1108
01:25:49.239 --> 01:25:54.039
policy going on, so lots of
foreigner sort of pause because there was no

1109
01:25:54.199 --> 01:25:57.079
cashion Nigeria. Normally people are brought
us saying no, I can't setlement to

1110
01:25:57.159 --> 01:26:00.359
my mother and Nigeria because there was
no Cashi Mi nagers pause. I think

1111
01:26:00.600 --> 01:26:04.359
we'll get a better read of that. If to get quarter two, quarter

1112
01:26:04.560 --> 01:26:10.560
three of twenty twenty three, then
will then actually know if themintance sports he

1113
01:26:10.640 --> 01:26:14.399
has actually changed. So what we're
doing here on Twitter spaces we have compared

1114
01:26:14.439 --> 01:26:17.119
to three months on the line and
look and see if there's actually been a

1115
01:26:17.239 --> 01:26:21.880
change and in the numbers match up
with the sentiment that we are we're speaking

1116
01:26:21.920 --> 01:26:26.920
about here on Twitter. I'll only
they talk about the first bank issue,

1117
01:26:26.920 --> 01:26:29.319
But in the first bank issue,
it is very very interesting. You know,

1118
01:26:30.000 --> 01:26:32.479
if normally anywhere in the world,
when you have a hostile takeover,

1119
01:26:33.000 --> 01:26:38.119
that's read that's a green light for
the shares to just go to the roof.

1120
01:26:38.239 --> 01:26:42.000
And in first Bank we have a
hostile takeover happening. So if you

1121
01:26:42.159 --> 01:26:45.640
want to buy a hot stock,
hot means it can go up, it

1122
01:26:45.720 --> 01:26:48.079
can also come down. That's the
stock to buy. If you have too

1123
01:26:48.119 --> 01:26:50.680
litter the pattern you buy now,
you're going to get your fingers bombs.

1124
01:26:50.720 --> 01:26:53.920
But that's what's going on. I
don't think it's many flittered there. It's

1125
01:26:53.920 --> 01:26:58.640
sometimes when we transcorp no Transcorp host
that takeover bid. This chair price went

1126
01:26:58.800 --> 01:27:01.960
up. If they settle tomorrow,
the shared gonna fall. So be very

1127
01:27:02.039 --> 01:27:08.159
careful when you're get into those things
on the first bank and lifts the second

1128
01:27:08.239 --> 01:27:11.640
one. The question, yeah,
and I would answer that briefly. I

1129
01:27:11.720 --> 01:27:15.399
think you answer the most public passport. What missing trincking is that the players

1130
01:27:15.800 --> 01:27:21.000
in involving the LBN holding you need
to also look at the top of as

1131
01:27:21.039 --> 01:27:28.079
there. So while the reports that
about their COO brought about tatting over teten

1132
01:27:28.159 --> 01:27:33.199
percent with a total stick called fourteen
percent, the step players that color Macadamuca

1133
01:27:33.439 --> 01:27:40.760
also having a combined of about over
twenty percent. Two The problem is that

1134
01:27:41.840 --> 01:27:45.399
those guys are everybody's annoying support.
Then the other other place is going on

1135
01:27:46.319 --> 01:27:53.000
Eco Bank saying that you guys,
the entity still win a lot of money.

1136
01:27:53.439 --> 01:27:57.960
Then um sucy also form our CBN
government. I liked the fact that

1137
01:27:58.439 --> 01:28:02.720
Eco Park has se on these So
all the politics are that the sects investigating

1138
01:28:03.000 --> 01:28:06.720
too. That's why it's so that
in the span of five days to share

1139
01:28:08.159 --> 01:28:14.399
went from a couple so you know
invest to us it onsensity and the politics

1140
01:28:14.439 --> 01:28:18.640
around the market is really not play
right now. So I think people felt

1141
01:28:18.680 --> 01:28:23.640
that we need to take politics day, but it's still not an energy back

1142
01:28:23.680 --> 01:28:26.680
to still ongoing, so I think
we should just be see. But that's

1143
01:28:26.720 --> 01:28:29.760
what it's plain us right now.
Yeah, wait and see because a lots

1144
01:28:29.760 --> 01:28:32.399
of things that are not to monitor
with that deal. There lots of things

1145
01:28:32.520 --> 01:28:38.399
hovering like around deal. It's not
of the share price or numbers, other

1146
01:28:38.479 --> 01:28:45.840
things outside are around that deal.
So let's see. Sorry, look can

1147
01:28:45.880 --> 01:28:54.439
complication and it was hopping. Thank
you very very quickly. Um. So

1148
01:28:54.600 --> 01:28:58.319
yes, we pretty much beat for
the platform for retallenge users. So that

1149
01:28:58.439 --> 01:29:00.960
means like but a say one can
be low, but of course you can't

1150
01:29:00.960 --> 01:29:01.880
tend muchiple one case if you want, but if you we need to do

1151
01:29:02.039 --> 01:29:05.399
volume. The kres is very simple, like takers, that's required from every

1152
01:29:06.119 --> 01:29:10.039
did you like you require from every
user by to become provider, so like

1153
01:29:10.199 --> 01:29:14.199
name address, you know, just
per number idea very simper kress. It's

1154
01:29:14.199 --> 01:29:17.279
not that it's really egregious. And
also um, for the fees, you're

1155
01:29:17.279 --> 01:29:20.880
able to send money on Karashi to
Nigeria for as low as less than one

1156
01:29:20.920 --> 01:29:26.039
dollar one pounds one card and she
says literally as less than that amount of

1157
01:29:26.079 --> 01:29:30.600
money, So that means that it's
really cheap seminar kiushi. Um. That

1158
01:29:30.720 --> 01:29:32.680
also means that you know, we're
able to leverage open bank and open finance

1159
01:29:33.159 --> 01:29:36.800
allows us secure each transfer and makes
it you know, as cheap as it

1160
01:29:36.960 --> 01:29:43.399
is. That's how we able to
make it make it that cheap. Thanks

1161
01:29:43.520 --> 01:29:48.680
that used, you're only happy.
Yeah, I also will answer the basically

1162
01:29:48.720 --> 01:29:53.800
ask the question, I think everything. So what I mean why, well,

1163
01:29:54.359 --> 01:29:58.199
our market is not efficiencies. What
the investors lookout is they look at

1164
01:29:58.199 --> 01:30:00.840
the market, look at everything market, force things, look at government policies.

1165
01:30:01.199 --> 01:30:05.560
So as I said the question over
nine e percent when I referenced force

1166
01:30:05.640 --> 01:30:10.279
Band, what I'm telling you is
after our gust take over took place,

1167
01:30:10.680 --> 01:30:13.680
I think sac or so someone said
said that they wanted to check police that

1168
01:30:13.720 --> 01:30:17.359
you acted from CBN. So it's
all these kind of inadequacies in our policies

1169
01:30:17.399 --> 01:30:23.640
that deter people from investing in our
India. In the address getting so our

1170
01:30:23.680 --> 01:30:26.680
thanks when investors look at all these
kinds of news we invest as are all

1171
01:30:26.680 --> 01:30:29.479
these way of adverse views. There
are a lot of things that are also

1172
01:30:29.680 --> 01:30:31.560
please right now are people who people
look out for me for investing. Those

1173
01:30:31.600 --> 01:30:34.600
are the things that we have not
addressed and we need to address. If

1174
01:30:34.600 --> 01:30:40.000
you want, if you wants you
our we want to I attract dr or

1175
01:30:40.199 --> 01:30:44.800
maybe fo fbis into the country.
That is why I referenced that force bank

1176
01:30:44.920 --> 01:30:48.359
is our policies are not aligned.
According to words is a playable outside the

1177
01:30:48.399 --> 01:30:53.439
country. So I as an investor
would not want to invest if if I've

1178
01:30:53.479 --> 01:30:56.680
seen advancements and I'm seeing those kinds
of things, and nobody's setting up the

1179
01:30:56.720 --> 01:30:59.760
player a player out a clay policy
on needs. Look at this, we've

1180
01:30:59.800 --> 01:31:02.079
no discipline go doing like thirty or
forty days. None. I think we

1181
01:31:02.159 --> 01:31:06.640
are doing empathy in like a few
days or few days of a few weeks.

1182
01:31:08.000 --> 01:31:10.159
Who is going to he is going
to chare, who's going to chare?

1183
01:31:10.199 --> 01:31:13.520
The commuting, So it's all these
kind of things that people need to

1184
01:31:13.600 --> 01:31:15.239
talk about. We need to hold
up. We need to hold people responsible

1185
01:31:15.560 --> 01:31:20.000
for this kind of for what this
kind of policies. President beliable to us

1186
01:31:20.000 --> 01:31:24.199
and explain why he is doing the
kind of he has kept. Note about

1187
01:31:24.239 --> 01:31:27.359
it. The market will react.
I absolutely do absolutely this bit about it.

1188
01:31:27.479 --> 01:31:30.920
The markets would definitely react the scand
of this if we don't set our

1189
01:31:30.960 --> 01:31:34.399
clear policies to demand to investors and
everyone that wants to invest your invest in

1190
01:31:34.439 --> 01:31:38.319
our country. Thank you. Yeah. This is the first guy that spoke,

1191
01:31:38.399 --> 01:31:42.439
the very first guy that spoke being
escaped from the UK when talking about

1192
01:31:42.479 --> 01:31:45.560
he using Ninegeria and no by birds
know that he wants to invest in his

1193
01:31:45.680 --> 01:31:49.159
home country. Doesn't know a lot
about nine Julia that guy is at the

1194
01:31:49.239 --> 01:31:54.680
folks that have the big box that
manage the should we say the Bloomberg money,

1195
01:31:54.720 --> 01:31:59.680
the FPID foreign following investment for those
boys sat the point that are blue

1196
01:31:59.720 --> 01:32:04.399
then don't know Nigeria from Senegal or
from whatever they're looking for yields. When

1197
01:32:04.439 --> 01:32:08.560
you plug your your blue back botton, you pick Nigeria. You see or

1198
01:32:08.600 --> 01:32:12.640
you see that the macro tables to
see or or whatever it's taking. You

1199
01:32:12.760 --> 01:32:15.680
also see news about Nigeria and in
that news, I guarantee you you know

1200
01:32:15.760 --> 01:32:19.239
see the Central Bank of not arrested, not just arrested or because you can

1201
01:32:19.319 --> 01:32:25.840
get rested for speeding, was arrested
for by this secret police and have not

1202
01:32:25.920 --> 01:32:29.800
been charged for almost a month.
So the central bank governor of the largest

1203
01:32:29.840 --> 01:32:33.840
economy in Nigeria in Africa had not
arrested by the secret police for a month,

1204
01:32:33.880 --> 01:32:36.920
who have not been charged to called. They want that same guy to

1205
01:32:38.039 --> 01:32:42.920
now invest one billion pounds in bonds. You see, we don't look at

1206
01:32:42.960 --> 01:32:46.319
these things. We don't understand that
Nigeria is now connected. When you make

1207
01:32:46.399 --> 01:32:49.960
decisions, so it make comments,
it shows up. I just see the

1208
01:32:50.039 --> 01:33:00.319
flash now where quick the president also
the president now saying that if he moved

1209
01:33:00.399 --> 01:33:02.960
there will be anarchy and chaos.
It's just I just saw it now.

1210
01:33:03.359 --> 01:33:08.920
The present is saying that if they
remove him, but if a courts remove

1211
01:33:09.039 --> 01:33:13.800
him, there will be anarchy and
chaos. If I'm holding Nigeria bond for

1212
01:33:13.920 --> 01:33:17.520
crying out loud, explains me why
I will not sell it. Where you

1213
01:33:17.680 --> 01:33:23.520
make statements as the present of the
largest economy in Africa, it's recorded,

1214
01:33:23.600 --> 01:33:27.920
it's already on the wire. Then
Nigeria says that if you remove on not

1215
01:33:28.079 --> 01:33:31.079
scoring twenty five thounds of votes in
the f city, there will be chaos

1216
01:33:31.239 --> 01:33:36.359
and anarchy. This is the precedent
of Nigeria speaking. So you know,

1217
01:33:36.479 --> 01:33:43.920
sometimes will you want to help because
it's the responsible team to do. But

1218
01:33:44.000 --> 01:33:46.880
these guys are just irresponsible and I'm
being polite. How can you make that

1219
01:33:46.920 --> 01:33:53.199
sort of statements? How can you
make that sort of statements? Okay,

1220
01:33:53.960 --> 01:33:59.880
only really quick? You want to
get from your submission just a point of

1221
01:34:00.199 --> 01:34:05.640
and so good it has been trying
to court. You're trying to call for

1222
01:34:05.720 --> 01:34:10.239
the illegal position of the fire.
That's that's the business charge. I mean,

1223
01:34:10.479 --> 01:34:13.159
the yester says told us too many
things. This man has been costedly

1224
01:34:13.239 --> 01:34:16.319
for over thirty days and all you
can get against them has been trying to

1225
01:34:16.399 --> 01:34:20.079
call for the position of the illegal
fire. So sometimes look at like just

1226
01:34:20.199 --> 01:34:24.920
like we're just like a total joke. We're an embarrassment. I don't I

1227
01:34:24.960 --> 01:34:28.279
don't don't as I say Legua,
I don't send it in Mefia. I've

1228
01:34:28.319 --> 01:34:30.359
spoken about him on Twitter. My
position on him is very clear. But

1229
01:34:30.560 --> 01:34:36.920
you can't take the central bank governor
of the largest economy in Africa putting in

1230
01:34:38.119 --> 01:34:41.880
jail and not charging for thirty days. They're now charging my tart to this

1231
01:34:42.039 --> 01:34:45.560
for holding it gun. You don't
do that. We can do things best.

1232
01:34:45.680 --> 01:34:47.880
This guy is supposed to be to
change from the Buhari regime. You

1233
01:34:47.920 --> 01:34:50.960
regin Jos. This is powerful course, not this guys. This guy is

1234
01:34:50.960 --> 01:35:00.600
supposed to be better. Mister ELB. What's happening, mister LB. Good

1235
01:35:00.600 --> 01:35:06.920
evening every one. Um, So
I listened to your question about why themintances

1236
01:35:08.279 --> 01:35:12.800
um, maybe our own thoughts or
why theramintances are low and you are my

1237
01:35:12.880 --> 01:35:16.840
own thoughts. Um. First thing
is I think we are not taking into

1238
01:35:16.960 --> 01:35:23.479
considerations how many people have actually left
right, maybe the middle class that have

1239
01:35:23.560 --> 01:35:27.680
been like migrating so far. The
middle class, maybe in my own thoughts,

1240
01:35:27.760 --> 01:35:30.960
used to be the people that have
like those friends abroads that would have

1241
01:35:31.119 --> 01:35:36.600
those like oh guys that people would
send money to. And the classes people

1242
01:35:36.720 --> 01:35:42.279
that I in tech like me that
work and then gets like being paid like

1243
01:35:42.439 --> 01:35:48.960
in foreign courrencies, and majority of
taking this opportunity provided by the UK to

1244
01:35:49.159 --> 01:35:54.880
leave the content so that the factor
that I think is contributing to it and

1245
01:35:54.960 --> 01:36:00.439
then the one that might contribute to
it going forward again is I used to

1246
01:36:00.520 --> 01:36:06.600
work in the bank where I was
I was an engineer and I built imtos,

1247
01:36:06.880 --> 01:36:12.199
which I think you're familer with,
mister Carlo, and one of my

1248
01:36:12.960 --> 01:36:16.159
boss just called me Designia and then
they say the recipient circler now that the

1249
01:36:16.279 --> 01:36:20.399
banks want to enforced when my dollar
comes in, they converted to never,

1250
01:36:20.880 --> 01:36:24.479
And I'm trying to explain to him
that there's no way you guys should do

1251
01:36:24.560 --> 01:36:28.000
that. It was actually asking because
I built the system earlier before, like

1252
01:36:28.159 --> 01:36:30.039
there's no way you guys should do
that because while we do, someone send

1253
01:36:30.119 --> 01:36:34.439
me money and then you guys would
decide to like convert my dollar to never.

1254
01:36:34.920 --> 01:36:41.199
This is a police slept that might
still affect this inflow of emittances.

1255
01:36:41.319 --> 01:36:45.800
And then another thing is the strictness
of our eminitancing system are for the engines

1256
01:36:45.840 --> 01:36:49.319
as I'm never going to talk about
the iron windows where by the big box

1257
01:36:49.439 --> 01:36:56.279
for me talking about the areas where
by the commandment maybe wants to get something,

1258
01:36:56.359 --> 01:36:59.800
I want to trade in the effects
and we have to go through the

1259
01:37:00.079 --> 01:37:03.960
conventional outs and this makes it very
difficult. So right now instead of guys

1260
01:37:04.640 --> 01:37:10.560
um looking at bringing in money,
Instagram spotting our demo. So for instance,

1261
01:37:10.600 --> 01:37:15.239
I need to get something from Amazon, I was still going to buy

1262
01:37:15.279 --> 01:37:17.800
the dollar using all this is our
new thing take ups and then you know,

1263
01:37:18.239 --> 01:37:24.119
so are some of the things that
I think are affecting these semitrance is

1264
01:37:24.159 --> 01:37:26.760
from my own point of view.
And then in terms of what people called

1265
01:37:26.800 --> 01:37:30.640
these governments can do, well,
well you've always said it in some of

1266
01:37:30.720 --> 01:37:34.000
your treats. If we don't import, if we don't produce, I mean,

1267
01:37:34.039 --> 01:37:36.319
if we don't export, or we
don't produce, or well those are

1268
01:37:36.399 --> 01:37:41.319
looking very good in the eye of
the world, then there's nothing that we

1269
01:37:41.439 --> 01:37:45.119
can do. Actually, it's not
simply are pitching. I mean we are

1270
01:37:45.640 --> 01:37:48.239
saying bad omen for the company want
is completely work, because man, I

1271
01:37:48.319 --> 01:37:53.640
don't think there's anywhere you would feel
okay in life than where you can either

1272
01:37:53.760 --> 01:37:57.800
it does speak your language properly or
be among your kings. But I don't

1273
01:37:57.800 --> 01:38:00.239
know. They work to be actually
very realistic about our companies at the moment

1274
01:38:00.319 --> 01:38:03.239
and know that, Okay, See, these guys are not going to change

1275
01:38:03.239 --> 01:38:08.279
anything like like you talk about optics, they're not gon doing anything about opticks,

1276
01:38:08.840 --> 01:38:15.279
right. Instead, they're bringing in
policies that that looks at sever aleptics.

1277
01:38:15.399 --> 01:38:17.640
If we can go and suffer,
then we still get fattened up good

1278
01:38:18.039 --> 01:38:20.079
that you will say, all they
are living, right, You see plenty

1279
01:38:20.079 --> 01:38:26.279
of government houses looking like mansions owned
by superstars, right, and then you

1280
01:38:26.359 --> 01:38:30.319
wonder that we are going to set
that control? Thank you? Yeah,

1281
01:38:30.399 --> 01:38:34.359
mind about the market that the homes
are empty. You literally can drive past.

1282
01:38:35.159 --> 01:38:39.359
Yes, yes, I was in
so like a couple of weeks back,

1283
01:38:39.399 --> 01:38:43.159
and you will be shocked. You'll
be shocked out empty because how many

1284
01:38:43.159 --> 01:38:48.239
people actually afford againsting homes in a
so called of course not can afford,

1285
01:38:48.279 --> 01:38:53.600
they convert the cash to homes,
then they lock it. Top is that

1286
01:38:53.720 --> 01:38:56.439
we're all put them on the bank
because they don't want to put on the

1287
01:38:56.520 --> 01:39:00.520
back of EFCC. So they build
at a house estate, they lock it

1288
01:39:00.640 --> 01:39:03.920
up because they fill up the house
cannot fall. So you want to ask

1289
01:39:03.960 --> 01:39:08.039
yourself when I was in about property
taxes, you can't hide the property.

1290
01:39:08.520 --> 01:39:11.359
Go to the property. Go there, put the table there and say who

1291
01:39:11.439 --> 01:39:14.800
is the owner of this house?
Who is the owner? You don't know

1292
01:39:14.920 --> 01:39:18.079
us? Not come sell the house? You do not comes, But they

1293
01:39:18.119 --> 01:39:21.680
don't do it because because they own
their homes, so they don't tax up,

1294
01:39:21.720 --> 01:39:27.359
but they will come out a tax
pms. I'm carousine that people in

1295
01:39:27.439 --> 01:39:30.119
mind lease use they can't tax that, but no one's gonna do property tax

1296
01:39:30.199 --> 01:39:33.279
and a blue jack. You can't
hide the house. Go to the house

1297
01:39:33.479 --> 01:39:38.039
No bout fifteen at jab on the
street. Who owns this home? You

1298
01:39:38.159 --> 01:39:42.680
don't don't have a owner. Charge
with bog and then the government takes to

1299
01:39:42.800 --> 01:39:45.039
whatever the rents. Since no one
owns your home, to come out,

1300
01:39:45.079 --> 01:39:46.439
rent it out and take the rents. End of study. But they won't

1301
01:39:46.479 --> 01:39:48.960
do it. All right, let's
get I've called you before, so I

1302
01:39:49.119 --> 01:39:55.880
got to ibo and if you yes, I'm miserable. It's like piccoli,

1303
01:39:55.920 --> 01:40:01.119
how are you doing, sir,
please go ahead, pincol m emam mister.

1304
01:40:01.199 --> 01:40:10.479
Epically, you've got the floor.
Oh man, let's get my wattic

1305
01:40:10.640 --> 01:40:14.880
journey, my watch journey. You've
got the floor. Hey, folks,

1306
01:40:14.880 --> 01:40:18.039
you want you want to speak your
standing in your mic? Isn't me?

1307
01:40:18.239 --> 01:40:25.000
O? Look can you hear me? Oh? Epically you've got the vale

1308
01:40:25.039 --> 01:40:30.520
called the floor. Yeah, basically
I'm beat in Nigeria. I wrote my

1309
01:40:30.600 --> 01:40:40.119
own small personal to high personal.
Basically those self employment uh be ris that

1310
01:40:41.000 --> 01:40:48.359
people are doing basically up people whosting, baby betraying or something. So basically

1311
01:40:48.800 --> 01:40:56.000
what it means to have to get
dollars to buy those services or get those

1312
01:40:56.039 --> 01:41:01.920
services provided, so be reached in
that affects me. Put the gati a

1313
01:41:02.039 --> 01:41:06.239
positive. You have a job outside
up with me the USA your pounds.

1314
01:41:06.680 --> 01:41:13.880
I'm happy, but fai, that's
custom that you are tho are more expensive

1315
01:41:14.000 --> 01:41:17.680
than you are for people like me, so which makes it very very tight.

1316
01:41:18.800 --> 01:41:26.359
Just friends a problems their friends have
got. So yeah, I gets

1317
01:41:27.520 --> 01:41:33.720
like you would change last pot and
be because of the changing the the right

1318
01:41:34.000 --> 01:41:41.800
evs yeh probably says one point,
we red valley busy pounds. So I

1319
01:41:42.000 --> 01:41:48.880
got the change where you like that
because the pound is most dollar and medical

1320
01:41:49.000 --> 01:41:57.000
bad to dollar gave them. That's
basic people. Apart from that, issues

1321
01:41:57.039 --> 01:42:01.720
proper that really give me your problem
for me right there? I don't sent

1322
01:42:01.960 --> 01:42:10.119
it because that in terms of relentancs
that you received, you getting you?

1323
01:42:10.279 --> 01:42:13.479
Do you have friends that send you
remltances? Do you have anyone that sends

1324
01:42:13.560 --> 01:42:24.479
money home to you? I say
remats changed because it is in UK.

1325
01:42:24.920 --> 01:42:28.520
So he sent new pounds which I
pay. I get paid in dollars,

1326
01:42:28.640 --> 01:42:33.279
so I get slightly more. But
it's no actually saying the same of pounds.

1327
01:42:33.720 --> 01:42:39.560
What's his pounds? Is um stronger
and not stronger and dollar? Now

1328
01:42:40.199 --> 01:42:43.520
I guess like he more dollars.
That's that's the only thing. Okay,

1329
01:42:44.079 --> 01:42:46.800
all right, all right, I
hear you are times you're happening. Let

1330
01:42:46.840 --> 01:42:54.199
me get your q C and p
are suppli ching analysts? What to hear

1331
01:42:54.199 --> 01:43:01.199
that? What it happening every one
days? Serve the UK? I mean,

1332
01:43:01.319 --> 01:43:06.119
is it a europe American's issue?
Where's that? I'm currently based in

1333
01:43:06.159 --> 01:43:12.319
the UK? Okay, yeah,
so um, though I joined a bit

1334
01:43:12.439 --> 01:43:15.399
lates, I just wanted to share
my own experience, you know, with

1335
01:43:15.640 --> 01:43:18.760
Remy towns. I'm older. Recently, you know, I've got a couple

1336
01:43:18.840 --> 01:43:25.079
of friends I wanted to invest in
real estate and Nigeria. I think they

1337
01:43:25.119 --> 01:43:30.640
all wanted to get some lands in
some very good areas in Lagos somewhere and

1338
01:43:30.199 --> 01:43:36.640
there about then one of them bought
champounds scenario. I think it was about

1339
01:43:36.680 --> 01:43:42.520
one thousand then and it changed about
ten thousand pounds because about ten million.

1340
01:43:43.319 --> 01:43:46.279
Then a few days later, just
about two days later, that seemed one

1341
01:43:46.359 --> 01:43:50.760
thousand year up a pound changed to
about one thousand, forty six. And

1342
01:43:50.920 --> 01:43:54.239
you know, you just look at
it that he's just about to sixth and

1343
01:43:54.239 --> 01:43:59.199
era about forty six area thinks ten
thousand pounds as at that day when we

1344
01:43:59.319 --> 01:44:03.880
check was about I think four and
sixty thousand, and one of them said,

1345
01:44:04.359 --> 01:44:08.760
either just with it. You know, I could have made extra for

1346
01:44:08.880 --> 01:44:11.880
the six thousand era and I would
have gone, you know, a long

1347
01:44:11.960 --> 01:44:15.720
way in bring one or two terms. My point is just too you know,

1348
01:44:15.000 --> 01:44:19.920
um, I agree to what someone
said earlier about the exchange rates affecting

1349
01:44:20.079 --> 01:44:24.960
investments in the enginyer. Some people
would want to wait if time is on

1350
01:44:25.079 --> 01:44:28.439
their side, and those that do
have time on their side, if they

1351
01:44:28.479 --> 01:44:30.439
have, you know, an investment
that you need to make as fast as

1352
01:44:30.560 --> 01:44:35.039
possibly will do that. But that
goes along way to tell you have you

1353
01:44:35.159 --> 01:44:41.439
know the Nira has performed too badly
and some investors are even scared now unless

1354
01:44:41.439 --> 01:44:45.359
even put that aside. Other fact
those like the kidnapping and some other sh

1355
01:44:45.560 --> 01:44:49.680
shoot political issues. I scared people
from taking out of your money that he

1356
01:44:49.840 --> 01:44:56.039
earned in a very very diverse mes
like stressful with in the UK or other

1357
01:44:56.159 --> 01:45:00.800
parts of Europe to invest in the
engineer and that to share we have.

1358
01:45:00.319 --> 01:45:04.680
So if there are policies that the
Nanjura government or CB and can make just

1359
01:45:04.840 --> 01:45:10.399
to encourage people, of course reminstances
or you know, transfers back to Najera

1360
01:45:10.479 --> 01:45:14.520
would also increase, which one way
or the other would all pose. I

1361
01:45:14.600 --> 01:45:17.039
mean those that want to invest in
real estate, they might not employ a

1362
01:45:17.119 --> 01:45:21.399
lot of people, but those people
that will be working on those sites would

1363
01:45:21.479 --> 01:45:25.640
definitely be pleased that you know,
something is coming back to Najera and they

1364
01:45:25.680 --> 01:45:30.119
are making money from it. So
the factors and the issues affecting Nanjura are

1365
01:45:30.199 --> 01:45:34.800
so big that we as you know, young people, learning people all need

1366
01:45:34.880 --> 01:45:40.439
to come together and say not have
a voice against it and look for wish

1367
01:45:40.479 --> 01:45:45.640
to a sensitize young people to make
good decisions, even even people that are

1368
01:45:45.800 --> 01:45:50.199
you know, talking about politics now, people supporting in PC and all that,

1369
01:45:50.319 --> 01:45:54.520
they know the truths, They know
the mistakes this government I've made.

1370
01:45:54.800 --> 01:45:57.840
They know the truths about you know
some of the mistakes. But why are

1371
01:45:57.840 --> 01:46:00.560
you also made in terms of economic
this is but they don't want to say

1372
01:46:00.600 --> 01:46:05.920
the truth because they want to be
partisan in politics. Irrespective of the party

1373
01:46:05.960 --> 01:46:11.399
you're supporting or reside you are,
you should be able to see the truth

1374
01:46:11.479 --> 01:46:15.079
always. And these things are glaring. These things are things that we see

1375
01:46:15.079 --> 01:46:16.880
every day. I mean a couple
of weeks ago, I was having a

1376
01:46:17.279 --> 01:46:24.159
conversation with a friend and it was
so happy that pounds was performing well against

1377
01:46:24.199 --> 01:46:28.239
the nier. And I was telling
my said, if pounds get to two

1378
01:46:28.279 --> 01:46:30.279
thousand, of course you can be
happy because you have more money to same

1379
01:46:30.359 --> 01:46:34.439
back home, but it's also affect
the economy back in the enjoyer things you

1380
01:46:34.600 --> 01:46:38.800
used to get which one thousand there, you won't be able to get it

1381
01:46:39.079 --> 01:46:42.600
with the same two thousand like yours
change. So why should youupy happy that

1382
01:46:43.039 --> 01:46:45.279
you know the NIHRI is performing badly. And these are some moll the simple

1383
01:46:45.359 --> 01:46:49.279
things that people don't understand. And
so many times I see mister Carl put

1384
01:46:49.359 --> 01:46:53.920
a post, you know, things
that we should learn from and at least

1385
01:46:54.119 --> 01:46:58.760
little research would go a long way
in helping you know the truth from what's

1386
01:46:58.840 --> 01:47:01.399
wrong. But you see, will
come on those streets that are as simple

1387
01:47:01.439 --> 01:47:05.119
as possible and you'll say no,
you know, they would start from standpoint

1388
01:47:05.119 --> 01:47:11.720
of politics because they're in particular side. These things are are neutral. When

1389
01:47:11.880 --> 01:47:16.119
you make a wrong policy, if
expective of being APC or PGP or Labor

1390
01:47:16.199 --> 01:47:19.720
party, it would affect you,
you know. So these are things we

1391
01:47:19.800 --> 01:47:25.119
need to discuss daily. Let us
we need to send spice people and hopefully

1392
01:47:25.479 --> 01:47:28.800
one day, one day we can
all see you know, positive results.

1393
01:47:29.760 --> 01:47:32.720
That's my contribution for now. It's
not declare I don't with you right.

1394
01:47:32.800 --> 01:47:35.640
So in terms of the relutance said, do you think it has gone up

1395
01:47:35.760 --> 01:47:40.600
or down? Or it just just
your view and your your friends what you

1396
01:47:40.640 --> 01:47:45.520
guys think. From my own view, I think it has gone up.

1397
01:47:46.079 --> 01:47:51.119
Um. I'm part of the student
grouping in Northampton and trust me, almost

1398
01:47:51.199 --> 01:47:56.039
every day we've got loads of students, you know, changing money, changing

1399
01:47:56.079 --> 01:48:00.119
POWNDS scenario. You know, although
they've all out their own is the fact

1400
01:48:00.199 --> 01:48:05.560
that the NARRA is performing badly.
Every two one thousand pounds to NARIA now

1401
01:48:05.680 --> 01:48:12.720
it's about one point I think one
point probablyion fifty thousand compared to like nine

1402
01:48:12.800 --> 01:48:15.000
hundred thousand, So that extra one
fifty will go along with for a young

1403
01:48:15.119 --> 01:48:18.680
person, especially students, he or
she can solve one or two things.

1404
01:48:18.800 --> 01:48:23.439
Nine From my own perspective, you
know, judging from what I've seen in

1405
01:48:23.439 --> 01:48:30.560
a few weeks now, I think
remotasks has gone up. So can I

1406
01:48:30.840 --> 01:48:34.760
stretch you to say, do you
think that's gone up because of the policy

1407
01:48:35.079 --> 01:48:39.199
or it's just gone up because there's
just a bit bo demand from the folks

1408
01:48:39.239 --> 01:48:43.319
back home. What can I stretch
you to answer that? I think it's

1409
01:48:43.960 --> 01:48:46.439
as a result of demands from people
back home. I mean the price of

1410
01:48:46.520 --> 01:48:50.439
true or price of petrol and other
things are really gone up. So there's

1411
01:48:50.640 --> 01:48:56.880
also a lot of pressure on the
people in the UK. If you have

1412
01:48:57.119 --> 01:49:00.880
family members and ninjurya even the way
requesting for fifty k from you, I'm

1413
01:49:00.960 --> 01:49:05.159
definitely usual one way or the other
that would have increased due to the rates

1414
01:49:05.199 --> 01:49:10.479
of inflation in the country right now. So it's it's it's not because of

1415
01:49:10.560 --> 01:49:15.560
course the policy to us encourage that. They met terrible policies, um so

1416
01:49:15.800 --> 01:49:20.199
so terrible policies. And you know, people have been forced to need more

1417
01:49:20.279 --> 01:49:25.199
money in Nigeria. And who can
you rely on when you don't have enough

1418
01:49:25.319 --> 01:49:29.720
jobs? People can't even go to
work because of fall or transportation because the

1419
01:49:29.800 --> 01:49:32.239
old pressure of forced back on the
people in their asporal and they're all forced

1420
01:49:32.279 --> 01:49:36.680
to change their foreign currencies to neither
to support that. People are conversing.

1421
01:49:38.039 --> 01:49:42.000
So that's interesting commentary. I'm making
that because of the issues in Nigeria.

1422
01:49:42.680 --> 01:49:45.600
Regnicans are going up lordly because of
the policy per se. But people are

1423
01:49:45.680 --> 01:49:50.039
solving more problems. So there's more
social welfaring that is happening. Interesting,

1424
01:49:50.760 --> 01:49:56.359
very interesting. All right, let's
get a cheeventy five four. What's up

1425
01:50:00.199 --> 01:50:05.520
the grouping Chicago. I'm a big
fun of yours. I enjoy your species

1426
01:50:05.600 --> 01:50:13.560
and your tweets, but this is
where are we coming from? Uh physical?

1427
01:50:13.640 --> 01:50:17.039
I want to ask you a question
easier the Nigeria effects the form do

1428
01:50:17.239 --> 01:50:24.800
you believe as a person, that's
the form by fluting denial they formed on

1429
01:50:25.039 --> 01:50:30.800
their first marketing. Do you believe
they enough to bring money inflow of dollars

1430
01:50:30.960 --> 01:50:36.000
from twenty fun equi company, you
as a person believe not to be an

1431
01:50:36.119 --> 01:50:44.159
increase or an each influ or funny
currency from foreign counties into Nigeria. I

1432
01:50:44.279 --> 01:50:49.920
want to look at it this week
before watching. If you can read,

1433
01:50:50.119 --> 01:50:58.239
you can, okay? Yeah?
So I mean in the past, you

1434
01:50:59.439 --> 01:51:04.399
you could not prize the economy appropriately. In the past. What I mean

1435
01:51:04.560 --> 01:51:09.680
is this because you had dollars at
four sixty three. It wasn't the real

1436
01:51:09.760 --> 01:51:15.039
price. So if you're importance is
in the country, you are operating at

1437
01:51:15.119 --> 01:51:20.039
a substit that you cannot cost appropriately. Companies cannot plan to are they're going

1438
01:51:20.079 --> 01:51:25.399
to buy at four sty three or
seven hundred? Look at the airlines.

1439
01:51:26.119 --> 01:51:30.079
They were selling tickets at four sitty
three, but they can't get their dollars

1440
01:51:30.159 --> 01:51:34.199
out of Nigeria. So in the
past we cannot or we could not contun

1441
01:51:34.279 --> 01:51:38.720
like that. What they've done now
is to say they're going to open up

1442
01:51:38.760 --> 01:51:42.560
the market to willing buyer willing seller, which means, like many people have

1443
01:51:42.680 --> 01:51:46.159
sat here, if I send one
dollar to the Nigeria. I am getting

1444
01:51:46.239 --> 01:51:51.039
the same price that you get on
the street. Here there will be plus

1445
01:51:51.079 --> 01:51:56.399
a minus, but you are getting
almost the same price as you get on

1446
01:51:56.520 --> 01:52:00.199
the street. So we haven't changed
anything. We've done the truth taking off

1447
01:52:00.199 --> 01:52:05.800
the subsidy on dollar, so that
if I am still sending money, remember

1448
01:52:05.840 --> 01:52:11.239
that I see semny true Kyoshi.
When I sement true Kyoshi, I'm doing

1449
01:52:11.319 --> 01:52:15.119
P to P. People are buying
my dollars based on the demand I sell

1450
01:52:15.159 --> 01:52:18.000
to their base, on their obilion
to me. I have not saying at

1451
01:52:18.079 --> 01:52:21.880
four six to three, I am
saying that the real market price. So

1452
01:52:23.159 --> 01:52:26.520
all they've done now to say whatever
I'm you know, P to P do

1453
01:52:26.680 --> 01:52:30.680
it on the official channels. That's
all they've done. So if remittances are

1454
01:52:30.720 --> 01:52:34.119
going to go up or down,
is going to go up because now I

1455
01:52:34.319 --> 01:52:39.840
know if I send your CBN in
coot channel, I get more money at

1456
01:52:39.920 --> 01:52:43.600
jather. That's what you've done,
right, So if you have the follow

1457
01:52:43.640 --> 01:52:50.720
up coat, So I you're saying
that because they remove those those obstacles that

1458
01:52:51.000 --> 01:52:55.720
involves abtube vial markets, that they
have a single market, you feel that

1459
01:52:55.800 --> 01:52:59.000
people will now start selling more money
to Nigeria. That is what you're kind

1460
01:52:59.039 --> 01:53:05.439
to say more already is then not
true to what they're doing. They've taken

1461
01:53:05.520 --> 01:53:13.399
away the advantage that the private sector
had and said, okay, we in

1462
01:53:13.520 --> 01:53:16.640
Sibian are no longer going to set
the prize for dollar. So if I

1463
01:53:16.800 --> 01:53:20.560
was sending money through an app like
Kiyoshi, I wasn't going you know,

1464
01:53:20.880 --> 01:53:25.680
if I was sending money through other
means, I didn't go through central bank.

1465
01:53:26.039 --> 01:53:30.680
Now I can go through my bank
or even through an app and get

1466
01:53:30.760 --> 01:53:33.399
the same price as on the streets
of a back. That's what they're trying

1467
01:53:33.399 --> 01:53:42.279
to say. So when we talk
about the stock market, how it's a

1468
01:53:42.399 --> 01:53:45.920
related deprices that instead, you know, it depends on the influ and the

1469
01:53:46.039 --> 01:53:53.159
outflu of the dollar and delia.
So if we have more dollars coming into

1470
01:53:53.239 --> 01:53:57.760
their coloni, then we expect the
dollar delia to also appeciate. Then do

1471
01:53:57.920 --> 01:54:03.279
us to correct? You understand?
So what this thing is telling lost that

1472
01:54:04.000 --> 01:54:10.720
the so called efforts for this market
it is not enough. They are all

1473
01:54:10.760 --> 01:54:15.239
the other factors that have to be
for the effens markets too. Really really

1474
01:54:15.359 --> 01:54:18.560
for you to see the impact of
the effas markets. Yeah, that's what

1475
01:54:18.640 --> 01:54:30.079
we're saying we're saying that the country
and are not wrapting every removed elements.

1476
01:54:31.119 --> 01:54:36.479
What more needs to happen. You
simply cannot remove just impediment and then their

1477
01:54:36.560 --> 01:54:41.560
country will see boom. That's what
we're saying. There has to be more.

1478
01:54:41.840 --> 01:54:45.560
For instance, you talk about kidnapping. You've heard everyone say kidnapping on

1479
01:54:45.640 --> 01:54:49.159
the farms. You've heard them say
inconsistent policies. But if you remove the

1480
01:54:49.279 --> 01:54:54.880
kidnapping on the farms, if you
remove the policies and you leave in the

1481
01:54:55.039 --> 01:54:59.119
double exchange rate, then ninety dollar
nine dollars will not flow through Sybian.

1482
01:54:59.279 --> 01:55:02.039
It will see low to Nigeria,
but not the CBN. Do you get

1483
01:55:02.079 --> 01:55:08.039
the point I'm making. This is
what they've done today allows dollars to flow

1484
01:55:08.119 --> 01:55:12.479
to the CYBN. If they don't
do it, dollars will flow to Nigeria,

1485
01:55:12.680 --> 01:55:19.800
but not to the CBN. That's
the clarification exactly. So the thirsting

1486
01:55:19.840 --> 01:55:24.079
of variety, of the of the
insisting of the first market, he's just

1487
01:55:24.239 --> 01:55:28.399
making available for the command. Man's
not really having apart on the event the

1488
01:55:28.520 --> 01:55:31.920
vestibles because the investors, I'm not
sure where they're going with this. Look

1489
01:55:31.960 --> 01:55:35.920
at what I'm saying, right.
The economy itself. The dollars that are

1490
01:55:35.960 --> 01:55:40.720
going to come to Nigeria are still
come to Nigeria. All the sibling is

1491
01:55:40.760 --> 01:55:44.439
trying to do right is to say
send it through us. You know in

1492
01:55:44.479 --> 01:55:47.399
the past that we're paying you nira
if you send dollars to the central back,

1493
01:55:47.439 --> 01:55:50.479
do I pay you nira ten dollars
or so arrest as well. I

1494
01:55:50.479 --> 01:55:54.319
don't want what it called. It's
for you to encourage to send your money

1495
01:55:54.319 --> 01:55:59.239
to the CBN. Dollars are still
coming into Nigeria, but it's not going

1496
01:55:59.279 --> 01:56:02.800
to the Central We have dollars in
Nigerian bands in Domar accounts. Those dollars

1497
01:56:02.840 --> 01:56:06.760
are not owned that the CYBN.
They're owned by Nigerians. It's not part

1498
01:56:06.840 --> 01:56:11.479
of your EFFECTRI serve. So you
look at the Cybian effectricerves. It is

1499
01:56:11.720 --> 01:56:15.920
still below fifty billion. The Central
Apple wants to boost that EFFECTRI serves maybe

1500
01:56:15.960 --> 01:56:19.640
a one hundred or two hundred billion. How can they do this? They

1501
01:56:19.760 --> 01:56:26.560
have to devalue and depreciate the exchange
with to attract FPI to community. And

1502
01:56:26.680 --> 01:56:29.399
you've had the phone as they're going
to have the Central band. We want

1503
01:56:29.479 --> 01:56:34.079
you to do more depreciation before we
can consider breaking dollars and loud three that

1504
01:56:34.479 --> 01:56:39.239
if you go to the UK today
and you invest in the UK market,

1505
01:56:39.319 --> 01:56:43.960
you're getting five percent minimum, that's
the rate in the UK. Five percent.

1506
01:56:44.319 --> 01:56:46.479
If you go to America and you
invest money in America, I getting

1507
01:56:46.479 --> 01:56:51.079
about four percent if you do a
treasury so what's it called a circle of

1508
01:56:51.119 --> 01:56:56.640
deposits in the US? Four percent? Apple pay is paying you four percent

1509
01:56:57.119 --> 01:57:00.319
on your app on your phone four
percent. So on Nigeria to compete,

1510
01:57:00.439 --> 01:57:05.760
niger has gonna do four pus ten
plus sorry, four percent plus. That's

1511
01:57:05.800 --> 01:57:10.920
what's going on. So if we
don't devalue, money won't come. So

1512
01:57:11.119 --> 01:57:14.840
the argument you're making is to say
what is what word is not working?

1513
01:57:14.960 --> 01:57:17.560
But if you don't do it,
if you don't do that necessary step,

1514
01:57:18.000 --> 01:57:21.520
no money will come at all.
It's like saying there right, it's one

1515
01:57:21.560 --> 01:57:25.960
whole nine two one dollars. Nobody's
going to bring nina to look to your

1516
01:57:26.039 --> 01:57:29.640
country, even if you have security
and its first structure. Nobody to bring

1517
01:57:29.720 --> 01:57:32.840
money to your country because only because
you get the point of whether okay,

1518
01:57:32.960 --> 01:57:36.760
I guess, I guess your point, but I want to I want to

1519
01:57:36.960 --> 01:57:41.720
I want to say something can you
permitties will give an example. Now I

1520
01:57:41.800 --> 01:57:45.399
work with Acacola. I'm just a
special Carpa. Cocacola used to buy and

1521
01:57:46.000 --> 01:57:53.000
buy some of that there just involent
tayers as officiant. But now after the

1522
01:57:53.239 --> 01:57:58.159
floating of Denia to buy as Afial
as new official and doesn't the personal of

1523
01:57:58.199 --> 01:58:01.920
the effects markets now now that has
led to an increasing price of our product

1524
01:58:02.399 --> 01:58:06.560
and that has less to less appurticing
power from my engails. Like people are

1525
01:58:06.600 --> 01:58:10.840
not really really buying into a products
to give now for now they're going for

1526
01:58:10.880 --> 01:58:14.840
the cheaper ones shot. People are
agreeing for Zoobo and post called like a

1527
01:58:15.000 --> 01:58:23.159
Zoobo and can that's that's the vanity
now now wentually bookam he moved poice softly.

1528
01:58:24.439 --> 01:58:27.840
That was the first in indeed that's
there was sob on on oy.

1529
01:58:28.079 --> 01:58:30.920
He moved it the FX market.
Me as the person I was looking at,

1530
01:58:31.399 --> 01:58:35.680
why not hold still on their fax
market face he moved to on Oi.

1531
01:58:36.399 --> 01:58:41.039
Lets people see what the money you've
moved on to. Boy, Let

1532
01:58:41.079 --> 01:58:45.880
people see how you want you invested
to get colony. Let people see the

1533
01:58:45.000 --> 01:58:48.600
impact that has done in the economy. When people now start seeing the game,

1534
01:58:48.880 --> 01:58:53.640
then you now move to the fast
markets. There you move soffessman,

1535
01:58:53.880 --> 01:58:57.439
there you see that. But then
those policies that in the place, now

1536
01:58:57.560 --> 01:59:02.920
your best market, you will see
it decrease. Doesn't know that huge influ

1537
01:59:03.640 --> 01:59:09.960
of the dollar. Because now the
money you've seen on trust, if you

1538
01:59:10.079 --> 01:59:15.119
invested heavy in the economy goods,
agricultural, it puts because we have to

1539
01:59:15.239 --> 01:59:18.279
do to look at the critical cities
of the economy of economy that are using

1540
01:59:18.319 --> 01:59:25.800
the effix cocacula. Most of those
guys now most of those sectors that they

1541
01:59:25.840 --> 01:59:30.520
are they're finding have to create the
lighter and now they find good people Cacula.

1542
01:59:30.560 --> 01:59:32.479
They're finding that they have to keep
increasing price and they can't have to

1543
01:59:32.560 --> 01:59:36.039
keep increasing their prices and people are
not buying. And are the logo this

1544
01:59:36.119 --> 01:59:42.800
complies might better be declaimed the lost. Yeah, they declaire lost. Now

1545
01:59:42.920 --> 01:59:45.319
tell me which one accomplished that same. All these things are broad. We

1546
01:59:45.439 --> 01:59:55.560
say it wants come my investor that
economy. That's right. That's the point

1547
01:59:55.640 --> 01:59:59.359
is can you be to play the
point is that in nine tie and when

1548
01:59:59.399 --> 02:00:02.079
you have the all at for sixty
two, like your Brady said, it's

1549
02:00:02.159 --> 02:00:05.680
at a fisher. So when you
say Coke was selling. Coke was selling

1550
02:00:05.720 --> 02:00:12.319
because the government was subsidizing forex.
Now you've taken away that's for that subsidy.

1551
02:00:12.399 --> 02:00:15.319
Coke is no longer affordable to niger
because Nigerians can't afford CoA cola.

1552
02:00:15.640 --> 02:00:19.399
So what would the economy do.
Nigers are not going to invent their own

1553
02:00:19.720 --> 02:00:25.479
local dream. That's how you have
local Nigerian dreams that are not important.

1554
02:00:25.760 --> 02:00:29.199
If coke wants to survive in Nigerity, how to go back and start to

1555
02:00:29.319 --> 02:00:33.279
use Nigerian sugar from Nigeria. That
is not effect space. That's the way

1556
02:00:33.760 --> 02:00:39.920
the economies work because you are the
subsidy. If you keep the subsidy on

1557
02:00:40.159 --> 02:00:46.199
imports, then everybody will import and
the local production will never happen. So

1558
02:00:46.399 --> 02:00:51.279
I might agree with you that the
presidency they rush to remove the subsidy on

1559
02:00:51.479 --> 02:00:57.239
petrol and dollars. Perhaps it was
rushed, but they had to remove it

1560
02:00:57.279 --> 02:01:01.880
because they don't move it in a
rush. The economy cannot write prize itself.

1561
02:01:02.279 --> 02:01:06.720
The economy is import base, so
we have to go from the imports

1562
02:01:06.760 --> 02:01:11.960
that has taken away our dollars to
a production base. That's what they're trying

1563
02:01:12.000 --> 02:01:15.960
to do. I would say that
the eating subsius have gone immediately, but

1564
02:01:15.119 --> 02:01:20.880
then the politicians come immediately. You
can't subsidize petrol and subsidize dollars in the

1565
02:01:21.000 --> 02:01:26.640
economy. You are simply doing watchers
and you are subsidist an import. Now

1566
02:01:26.880 --> 02:01:30.680
coco sit down, Remember there was
the time nature where beer was made with

1567
02:01:30.840 --> 02:01:36.800
important components may be important with important
balin now being a local products, You've

1568
02:01:36.880 --> 02:01:41.600
got to go back to cook and
say what do we import to incope the

1569
02:01:41.680 --> 02:01:46.239
egeria and what can we get from
Nigeria to avoid the forest. If you

1570
02:01:46.359 --> 02:01:53.920
can do that, second, see
the problems. We do have a sufficient

1571
02:01:54.000 --> 02:02:01.680
sugar. We don't have sufficient sugar
in Nigeria that can't substage as your governments

1572
02:02:01.800 --> 02:02:09.239
give the license of importation of sugar. That means that Nigerians can't afford it.

1573
02:02:10.159 --> 02:02:14.319
That's what it means. We can't
afford it. If you subsidize coke

1574
02:02:14.760 --> 02:02:17.720
where so that this lifestyle we can't
afford. I'm not trying to be cool.

1575
02:02:17.840 --> 02:02:21.680
I'm just telling you it's like a
Lamborghini. If you say Lamborghini,

1576
02:02:23.000 --> 02:02:26.479
you make it one to warn Nagas
for the importland Borghini. Then you say,

1577
02:02:26.520 --> 02:02:29.560
oh, if you take the subsidy
we can't afford land Borghinis anymore.

1578
02:02:29.840 --> 02:02:32.479
We can't afford it. So if
we can't afford important sugar, what do

1579
02:02:32.560 --> 02:02:36.039
we do? We go back to
what we drink locally. Maybe we'll start

1580
02:02:36.039 --> 02:02:42.600
doing pan wine cooke or Cassava something
coke, or we'll take sugar from Cassaba

1581
02:02:42.680 --> 02:02:46.319
and may cooke. That's what needs
to happen. There's no way you can

1582
02:02:46.439 --> 02:02:51.159
import sugar at a subsidized price.
If we can't afford it, we can't

1583
02:02:51.199 --> 02:02:56.880
afford it, end of story.
At Chip it sounds cool, but that's

1584
02:02:56.960 --> 02:03:00.560
how it operates. Look at Sri
Lanka. That's what's gonna happen if we

1585
02:03:00.680 --> 02:03:05.159
keep on important stuff you can't afford
because your forests or your wealth in your

1586
02:03:05.199 --> 02:03:10.800
country cannot absolve it, which is
are low. They're just not a very

1587
02:03:10.880 --> 02:03:14.600
very rich country. And that that's
what it should. Eyes are clearing now

1588
02:03:14.920 --> 02:03:17.000
when you take away those subsidies,
we now say that, wow, we

1589
02:03:17.079 --> 02:03:21.880
really can't afford the sunset trafficking leakies
down. Why no cars? So while

1590
02:03:21.960 --> 02:03:27.079
driving cars on very very cheap petro
posa, we have croup unless subsidize it.

1591
02:03:27.159 --> 02:03:30.359
Okay, go ahead and do that
if you have the money subsidize it.

1592
02:03:30.680 --> 02:03:33.800
If you don't have the money,
you can't subsidize it. It's really

1593
02:03:33.880 --> 02:03:40.800
as cold as argib Malik and go
to Flosa. All is all that?

1594
02:03:40.920 --> 02:03:45.920
Manlike, how are you right?
Yeah? Three points for me. Number

1595
02:03:45.960 --> 02:03:50.000
one. I remember our vividly.
Sometimes they are true ultrue last day and

1596
02:03:50.119 --> 02:03:57.960
there this here you re agitating for
the float on the Nira and they are

1597
02:03:58.159 --> 02:04:01.600
the removal of the subsidy. We
care. I think this present administration I've

1598
02:04:01.640 --> 02:04:04.800
done as soon as they go into
power, So we need to give them

1599
02:04:04.840 --> 02:04:09.239
credit for that. I have given
them credits. Yeah, yeah, I

1600
02:04:09.279 --> 02:04:12.359
know, and I'm going to lot
of trouble on to the ford that.

1601
02:04:12.520 --> 02:04:15.000
Yeah, I know that as well. I know that also. Number two

1602
02:04:15.039 --> 02:04:19.319
were talking about their remintance, saying
from their they ask for or to Nigeria.

1603
02:04:19.920 --> 02:04:24.399
I live in the UK and I've
been in the UK from going to

1604
02:04:24.560 --> 02:04:30.359
eighteen years now. And one of
your earlier as the caller, was saying

1605
02:04:30.399 --> 02:04:32.239
that you got into the UK last
year or there about, and they are

1606
02:04:32.319 --> 02:04:35.880
all the people we came across with
them to invest in Jina blah blah blah.

1607
02:04:36.119 --> 02:04:42.319
Yeah the year ya fine, but
you cannot compare yourself. I mean,

1608
02:04:42.439 --> 02:04:45.039
you can't say because you just go
into the UK last year people are

1609
02:04:45.119 --> 02:04:49.279
telling not to invest in Nigeria.
You can compare yourself with myself and plenty

1610
02:04:49.319 --> 02:04:53.640
of my friends or relatives that I
know they're being the UK go into twenty

1611
02:04:53.760 --> 02:04:57.920
years, right, we look call
laws of impressment back home in Nigeria.

1612
02:04:58.039 --> 02:05:03.239
I just get I just go back
from yeah last week and I went to

1613
02:05:04.359 --> 02:05:08.039
I've got some project, good one
that I finished. I've got another I'm

1614
02:05:08.039 --> 02:05:11.960
going on and then I'm going to
that stage of thailing now. So I

1615
02:05:12.039 --> 02:05:17.840
went to this massive tailing their own
market in the Legos people call it their

1616
02:05:17.880 --> 02:05:23.640
own Who related the co relay side
lso, I don't know. So I

1617
02:05:23.760 --> 02:05:26.479
went to the side to see some
ties and then when I got to this

1618
02:05:26.600 --> 02:05:30.760
sal wayouts and then I asked them, I want some sisty by sisty ties

1619
02:05:30.800 --> 02:05:34.000
for it flows and the wars.
And then they were bringing out products blabber

1620
02:05:34.600 --> 02:05:38.359
and then I had the guide.
I was saying there about two of them.

1621
02:05:38.439 --> 02:05:41.000
I said, guy, why is
it that you're bringing all these fallign

1622
02:05:41.079 --> 02:05:45.239
ties? Why are you not bringing
out the maiden the enjurant ties? And

1623
02:05:45.399 --> 02:05:47.600
you were like, ah, that's
that's very rare for people to come here

1624
02:05:47.600 --> 02:05:50.960
and ask for the enduring times.
I say, what's wrong with enjurant ties.

1625
02:05:51.439 --> 02:05:56.680
It were like people like the Spanish
ties, Chinese ties, Indan ties.

1626
02:05:57.319 --> 02:06:00.720
I said, no, do you
think there's a fable today? You

1627
02:06:00.880 --> 02:06:08.279
need to you need to market market
meeting engineral ties to your customers in regards

1628
02:06:08.319 --> 02:06:11.840
of anything. Program about all these
fallun tires that you're bringing in. The

1629
02:06:12.000 --> 02:06:15.960
more you're paying people are buying this
volun tires, the more that this money

1630
02:06:15.039 --> 02:06:19.439
is going back to these foreign companies, foreign countries. We need to start

1631
02:06:19.479 --> 02:06:24.039
patronize. The world belongs to an
engineer. So at the end of the

1632
02:06:24.119 --> 02:06:27.279
day, I spoke to the guys
and they were exchanging contact and everything,

1633
02:06:27.319 --> 02:06:30.119
and I choose an enginoualtizer. I
wanted to go forward. And then in

1634
02:06:30.279 --> 02:06:33.800
terms of them sending money pack Hole, I can tell you for the fact

1635
02:06:33.920 --> 02:06:39.000
that people I know and even though
I went to some places yesterday, two

1636
02:06:39.039 --> 02:06:42.720
places yesterday, and people were still
saying that they rate there sending money back

1637
02:06:42.800 --> 02:06:47.119
home. Compared to before, it's
only high level. Now it's increased.

1638
02:06:47.359 --> 02:06:51.079
People are sending money pack On because
you can compare someone like made up standing

1639
02:06:51.079 --> 02:06:56.680
there for like eighteen years now and
then where I'm working presently. We all

1640
02:06:56.720 --> 02:07:00.239
know that there's challenges in this country
and there's barriers. There's a lever to

1641
02:07:00.319 --> 02:07:02.680
where you can get to my place
of work. Now, I'm really really

1642
02:07:02.760 --> 02:07:06.800
pushing to get to a certain level
after a senior role which I entied toto,

1643
02:07:06.920 --> 02:07:11.520
which I'm qualified to, not entied
to which I'm qualified, and they

1644
02:07:11.640 --> 02:07:15.279
know it, but they won't give
it to you. I'm not going.

1645
02:07:15.479 --> 02:07:18.159
How do you know that people are
sending money home? That's why I just

1646
02:07:18.279 --> 02:07:23.039
say to you. Now, I've
got my families and relatives. I've got

1647
02:07:23.159 --> 02:07:27.119
friends that we're paying here for more
than fifteen seventeen, eighteen years. We

1648
02:07:27.199 --> 02:07:30.720
got huge projects going on back home. I've got friends in South Africa as

1649
02:07:30.760 --> 02:07:33.000
they are sending money back home.
Seriously, I've got friends in the state.

1650
02:07:33.119 --> 02:07:38.119
They're sending money back home because the
opinion the depending on the western world

1651
02:07:38.159 --> 02:07:42.640
for so long. After why you
won't go back home? There's no place

1652
02:07:42.760 --> 02:07:45.640
like home. We all know all
the things that is happening back home.

1653
02:07:45.000 --> 02:07:47.920
Are we where we're supposed to be
as a country? No? Are we

1654
02:07:48.079 --> 02:07:51.720
progressing? Yes? Okay? And
they're sending money back home because of the

1655
02:07:51.840 --> 02:07:58.600
specific policy of the devaluation. Of
course, of course, the point I'm

1656
02:07:58.600 --> 02:08:01.840
making this gal if you look at
the man that spoke about, because that's

1657
02:08:01.880 --> 02:08:05.439
its reality and this is also your
reality. Right, So both of you

1658
02:08:05.560 --> 02:08:09.920
have realities that are correct. Could
both be wrong, but boddos are two

1659
02:08:11.000 --> 02:08:13.720
reality speaking and both are correcting.
Nigea right. But again it's just like

1660
02:08:13.920 --> 02:08:18.119
everyone has to speak to what they
know of. That's just where everyone.

1661
02:08:18.840 --> 02:08:22.479
But the back to the natural tie
example you gave was a Nigerian tal in

1662
02:08:22.640 --> 02:08:28.479
terms of quality as good as an
important time minister can I'll give you another

1663
02:08:28.640 --> 02:08:33.159
good example. There's the ties in
Nigeria. Now, it's as good as

1664
02:08:33.199 --> 02:08:35.640
the Spanish ties. We all know
the super Polish ties. The Spanish one

1665
02:08:37.199 --> 02:08:41.000
that's the high grade, and the
Chinese and India are super Polish ties.

1666
02:08:41.319 --> 02:08:45.520
There's a complaint then, an Italian
complain that went to Ninjuria and August they

1667
02:08:45.600 --> 02:08:48.000
set of your factor in university and
they are producing in almost state. And

1668
02:08:48.119 --> 02:08:54.119
the rate you're selling that is the
same we've made in Nangeran ties and the

1669
02:08:54.239 --> 02:08:58.279
qualities they are the same thing,
the same one even more quality than the

1670
02:08:58.319 --> 02:09:05.640
Spanish ties. You can you can't
differentiated, and that the name as a

1671
02:09:05.640 --> 02:09:09.680
shot the case folks want to know, do you what's the name of the

1672
02:09:09.960 --> 02:09:15.760
company. Do you have that of
Veroni, Veron Godcha and then in Ogan

1673
02:09:18.199 --> 02:09:22.439
sorry, in ogen state, in
open state. Okay, good points,

1674
02:09:22.560 --> 02:09:24.720
good point. I mean only just
to the point. I like, you're

1675
02:09:24.760 --> 02:09:30.920
making this this right. When you
do business right and you have change in

1676
02:09:31.000 --> 02:09:33.560
your business environment, then the company
has got to change. You know,

1677
02:09:35.119 --> 02:09:39.560
structural adjustment program has a very very
bad rap attached to it. But what

1678
02:09:39.880 --> 02:09:45.560
it is is that Nigeria got a
lot of money dollars where we are in

1679
02:09:45.720 --> 02:09:50.000
nineteen sixty nineteen seventy. We became
very rich. We are important. Everything

1680
02:09:50.399 --> 02:09:52.600
you know, you're called to me
a wild bad that. When I was

1681
02:09:52.680 --> 02:10:00.720
growing up, everything I ate was
important. Three top sardines, bread,

1682
02:10:01.359 --> 02:10:05.000
everything we ate in Nigeria. You
go to levantis and you buy it.

1683
02:10:05.680 --> 02:10:09.319
It was important. There was no
one talking of imports then. It wasn't

1684
02:10:09.359 --> 02:10:13.600
the thing people thought about. What
was imports. You just import blue bird,

1685
02:10:15.279 --> 02:10:18.159
you eat it your important bread,
and you go to school with your

1686
02:10:18.199 --> 02:10:24.600
important batter in your important car.
But when the economy crashed in the nineteen

1687
02:10:24.840 --> 02:10:30.279
seventy nine, you had austerity under
Sugary, then you had the structuument program.

1688
02:10:30.479 --> 02:10:33.039
In fact that I was tending Nigerias. We have to start to manufacture

1689
02:10:33.199 --> 02:10:39.600
locally because we can no longer afford
to import these things. That's what's good

1690
02:10:39.640 --> 02:10:43.199
on right now. Again, we've
got to a stage where we've had I

1691
02:10:43.279 --> 02:10:46.960
don't want to pass place. But
the reality today we have talked about today

1692
02:10:48.039 --> 02:10:54.880
is that the country cannot afford imports
today, and the country has got to

1693
02:10:54.199 --> 02:10:58.840
step back and take a deeper look
at say what can we import on two

1694
02:11:00.239 --> 02:11:05.439
So it took costing me sarger so
you cannot go ahead, but ahead,

1695
02:11:05.199 --> 02:11:09.960
Yeah, back to this building materials
stuff I was talking about there about I

1696
02:11:11.079 --> 02:11:15.000
spoke about the tires, even the
dogs. Look at the doors we're using

1697
02:11:15.039 --> 02:11:20.399
today. All talkist imported dogs.
If you do your research very well,

1698
02:11:20.520 --> 02:11:22.840
if you if your patience enough.
The problem is in a lot of us

1699
02:11:22.880 --> 02:11:26.800
are not on ground, those of
us in the hosperal building back home.

1700
02:11:26.039 --> 02:11:30.319
But gonna look at the guys back
home, go and look at how they're

1701
02:11:30.359 --> 02:11:33.800
building, Gonna look at the quality
of things those of them on ground,

1702
02:11:33.119 --> 02:11:37.960
they will find a reliable and a
good joiner that will put a proper agg

1703
02:11:39.159 --> 02:11:43.680
health boot together and come up with
a fourth full free food, nice doors.

1704
02:11:45.399 --> 02:11:48.439
Even my Gary dogs. They will
buy the local materials and they will

1705
02:11:48.479 --> 02:11:52.000
put it together mounted there for them. I get you all at the point

1706
02:11:52.039 --> 02:11:56.279
I'm making it with the local prospect
that we can only do look out production

1707
02:11:56.399 --> 02:12:01.359
will look at cost four. So
while it has to be that we've increased

1708
02:12:01.399 --> 02:12:07.239
we've taken away the subsidy on the
Nira, those that savings should have gone

1709
02:12:07.279 --> 02:12:11.039
to invest in the local economy.
What it is better to see from the

1710
02:12:11.199 --> 02:12:16.880
President was announcement of the massive catal
investments in getting the cost of production the

1711
02:12:16.920 --> 02:12:22.279
Egah to fall power roads. If
you can get the cost of production eager

1712
02:12:22.319 --> 02:12:28.319
to fall, then the gentleman Jable
that's talking about production of sugar, they

1713
02:12:28.439 --> 02:12:31.319
can then cook, can then run
without paying for diesel and then use that

1714
02:12:31.439 --> 02:12:37.600
scenes from diesel to perhaps import sugar
from Brazil. But when you have local

1715
02:12:37.760 --> 02:12:43.239
cost of production high and does not
come down, then you remove the subsidy

1716
02:12:43.439 --> 02:12:48.159
on petrol and dollar, then it's
counterproductive. You can't have it put with

1717
02:12:48.279 --> 02:12:52.680
the government cannot east and habit.
The government cannot remove subsidy on dollar,

1718
02:12:54.279 --> 02:12:58.960
then go ahead and not invest that
subsidy to that mode in the same economy

1719
02:13:00.079 --> 02:13:03.920
me to reduce the cost of doing
business. That's where they have feel Look

1720
02:13:03.920 --> 02:13:07.399
at this the test that Bland the
outlined on the on the on the p

1721
02:13:07.520 --> 02:13:13.640
palliatives, you don't really see a
big push to see we're going to addressed

1722
02:13:13.800 --> 02:13:22.279
cost of production locally in Nigeria,
power roads in security focused on those guys,

1723
02:13:22.720 --> 02:13:28.399
then the local essames can there replace
the imports otherwise but wasting our time?

1724
02:13:28.840 --> 02:13:33.760
Thanks, I got to move on
than just a second quickly, miss

1725
02:13:33.800 --> 02:13:39.960
all that. Where are you basing
us? Missola? Sorry? Where are

1726
02:13:39.960 --> 02:13:43.479
you basing UKs? I just moved
to Birmingham from London. You're okay,

1727
02:13:43.520 --> 02:13:48.760
girky. Are you part of the
dressing nuke community? No? Okay,

1728
02:13:48.760 --> 02:13:50.840
So if you're agin the UK,
we have a wonderful ninderence in the UK

1729
02:13:52.000 --> 02:13:54.840
community. I'm going to put on
the job of trunk so feel free to

1730
02:13:54.359 --> 02:13:56.560
to join. I mean, I
love some of your perspective, some of

1731
02:13:56.680 --> 02:14:01.640
your submissions, and I think someone
like you should be part of the nigregent

1732
02:14:01.680 --> 02:14:05.479
community. Can comme in You can't
talk of course before that, Beminham,

1733
02:14:05.600 --> 02:14:09.600
we even having a niminking summer handcarts. Beminham in the Truth of Focus too,

1734
02:14:09.920 --> 02:14:13.600
but I would say the dam and
then thinking from the can join the

1735
02:14:13.640 --> 02:14:20.239
Commarcy, your ara means a guy
just to repete the room. We've been

1736
02:14:20.279 --> 02:14:26.000
talking about close to two hours now
on the new Nigeria policy on that the

1737
02:14:26.439 --> 02:14:31.640
celebrate Nager has passed. You know, um it's the summaries that they want

1738
02:14:31.680 --> 02:14:35.359
to attract supply back to Nigeria,
so they liberalize the rate. It's now

1739
02:14:35.520 --> 02:14:39.880
market driven. They've asked the dome
account. Umho. We say policies should

1740
02:14:39.880 --> 02:14:43.000
be liberalized as well. So you
have you don't have any tent on dollar

1741
02:14:43.079 --> 02:14:46.239
limiting anymore. You can get paid
in dollars, you can get paid in

1742
02:14:46.359 --> 02:14:50.720
Nia. And they are targeting permittances
from the dask wraps. That's the easiest

1743
02:14:50.760 --> 02:14:56.359
thing that they can target. They
wanted to come in to support the policies

1744
02:14:56.640 --> 02:15:00.920
that they have also passed all the
nighrect change rates. The problem is always

1745
02:15:00.960 --> 02:15:05.600
supplied into possites that passed and there's
no supply than the posities not to work.

1746
02:15:05.640 --> 02:15:07.960
So we are looking for supply.
And the whole idea of this of

1747
02:15:09.000 --> 02:15:11.800
the space today is to say what
is going on that the data shows that

1748
02:15:11.920 --> 02:15:16.359
quarter one supply has much as picked
up, and we're trying to fund from

1749
02:15:16.439 --> 02:15:18.880
the data that will come out and
got to but are trying and to say,

1750
02:15:18.880 --> 02:15:22.359
okay, are we doing the right
things? So far it's been a

1751
02:15:22.439 --> 02:15:26.319
mised, mixed bag of possying.
Yes, they like the policy and know

1752
02:15:26.680 --> 02:15:30.520
the policies. Good point hasn't affected
in any way. But still let's keep

1753
02:15:30.560 --> 02:15:35.039
on talking to Nara means and if
you're you're able to commutant, speak to

1754
02:15:35.239 --> 02:15:43.600
Nara means, let's go ahead means
it's not let's get carber carbery A bellow,

1755
02:15:45.279 --> 02:15:50.199
thank you, so you've got your
hand off, Please go ahead everyone,

1756
02:15:50.479 --> 02:15:56.840
I'm fine. Fine. So with
regards to remy times, they are

1757
02:15:56.920 --> 02:16:01.399
a lot of things we are able
to host of our book ads. I

1758
02:16:01.439 --> 02:16:03.720
can say maybe the last time injury
are as a very high rematimes was in

1759
02:16:03.800 --> 02:16:09.119
two thousand and eighteen and send two
thousand and eighteen, which you are very

1760
02:16:09.359 --> 02:16:13.319
well aware of our remy terms as
being driedling low and low and low.

1761
02:16:13.800 --> 02:16:18.239
Now, there are so many reasons
the issue is rematized is not changing.

1762
02:16:18.279 --> 02:16:20.640
In enjury a lot of people as
to send them money back on. But

1763
02:16:20.880 --> 02:16:24.279
the issue is there are a lot
of informa sectors whereby people are send the

1764
02:16:24.359 --> 02:16:28.680
money now informer sectors that can never
be captured, just like as we out

1765
02:16:28.119 --> 02:16:31.959
black money in the economy that can
never be accounted for where we are calculated

1766
02:16:33.040 --> 02:16:37.799
GMPGDP and every other index, Acuna
index, so the same thing goes to

1767
02:16:37.920 --> 02:16:41.840
the rematians we have Now there are
a lot of informats sectors that you can

1768
02:16:43.200 --> 02:16:48.639
you know, remit money from abroad
now and a lot of these informa sectors

1769
02:16:48.000 --> 02:16:52.399
are kind of easily accessible. They
are kind of cost effective for people because

1770
02:16:52.520 --> 02:16:56.159
every time that a lot of madurance
send money abroad, they look at a

1771
02:16:56.239 --> 02:17:01.520
lot of reasons. People want to
get more money, more cash, and

1772
02:17:01.680 --> 02:17:05.600
people also look at you know,
easy assets and when you have the government

1773
02:17:05.639 --> 02:17:11.159
regular regulation that has a law of
butt night. These are the basins where

1774
02:17:11.200 --> 02:17:16.319
a lot of people are going using
all these informer sectors, like all this

1775
02:17:16.479 --> 02:17:20.719
application. Even people use career.
But when I see somebody coming from UK,

1776
02:17:20.920 --> 02:17:22.920
they can you give the present cash
to stop with in the bag and

1777
02:17:24.000 --> 02:17:26.319
bring back home. Those are part
of them sectors that kind of money can

1778
02:17:26.360 --> 02:17:31.399
never be account for. But the
issue is it's not because the remittance in

1779
02:17:31.440 --> 02:17:35.559
the guys getting but the issue is
the informer sectors is receiving a lot of

1780
02:17:35.680 --> 02:17:39.280
remitance that can never be accounted for. And as and we can only account

1781
02:17:39.319 --> 02:17:43.959
for what we can what passes through
the banks and well passes through the banks

1782
02:17:43.959 --> 02:17:48.319
and center banks. Anything outside that, it can never be accounted for.

1783
02:17:48.600 --> 02:17:50.360
And I think that's the reason why
we are seeing that. Okay, the

1784
02:17:52.159 --> 02:17:58.440
remitance is the supply of remittance is
low because with currencies, a lot of

1785
02:17:58.479 --> 02:18:01.680
people are using these their currencies to
I mean money back home, and all

1786
02:18:01.719 --> 02:18:05.079
of these sectors they are not put
in place when we are calculating what is

1787
02:18:05.319 --> 02:18:09.440
the key one key to remitrance?
Blue so and I think I want to

1788
02:18:09.520 --> 02:18:16.000
say, is I wish you also
address is the concept of our nea was

1789
02:18:16.360 --> 02:18:20.200
fluted. I think you are very
right when he said that when you live

1790
02:18:20.280 --> 02:18:24.879
never to be fluated. An organization
or a company or a brother is coming

1791
02:18:24.920 --> 02:18:30.760
to embarrass or even within the Jura
can easily say them and calculate and predict

1792
02:18:30.840 --> 02:18:33.840
how much you will spend their budet. Unlike before were back, everything is

1793
02:18:33.879 --> 02:18:37.280
subsidized, maybe a lot of the
journe does don't understand the concept of subsidies.

1794
02:18:37.479 --> 02:18:41.639
The endurance is subsidies from the concept
of petroleum alone, I can tell

1795
02:18:41.680 --> 02:18:45.440
you that I'm reaching. The endurance
is is from that aspect when you talk

1796
02:18:45.479 --> 02:18:50.000
of subs. Really the posting and
having the Jura will think about is petroleum.

1797
02:18:50.239 --> 02:18:54.799
But the issue is our life.
You've said before, subsidies is actually

1798
02:18:56.120 --> 02:19:00.159
you know, every part of our
economics or because when you subsidize is the

1799
02:19:00.239 --> 02:19:03.879
exchangerate you give a syndury around point
and something era which like you said,

1800
02:19:03.920 --> 02:19:09.920
it is artificial, and you have
covied like Cocacula. Taking all these forcts,

1801
02:19:09.760 --> 02:19:13.840
that is that everybody that is buying
Cocacula its being is buying a subsidized

1802
02:19:13.879 --> 02:19:18.959
drink. Anybody that is buying anything
from the gouty is very subsidized goods from

1803
02:19:18.000 --> 02:19:22.559
them. So a lot of this
has happened in the past, and having

1804
02:19:22.639 --> 02:19:26.840
a fluted era will create more opportunity
because the issue is we have what we

1805
02:19:26.920 --> 02:19:33.319
call important inflation and Engina important inflation
from the US aspect of like you said,

1806
02:19:33.559 --> 02:19:37.399
we like to consume, we are
not productive and when we don't productive

1807
02:19:37.440 --> 02:19:39.639
or we are not productive. We
have to import a lot of things from

1808
02:19:39.760 --> 02:19:46.559
outside the world. I'm okay,
okay, a problem. Are very very

1809
02:19:46.600 --> 02:19:50.959
productive, but impromise that it's cheaper
to reports because if you look at it

1810
02:19:52.639 --> 02:19:56.360
right, it's cheaper to go to
China. Let the stake rice. It's

1811
02:19:56.440 --> 02:20:00.920
cheaper to go to Thailand or India, buy rice, put on the ship,

1812
02:20:01.440 --> 02:20:05.719
seal the ship from India or Thailand
to Nigeria. Clearity is cheaper than

1813
02:20:05.920 --> 02:20:11.440
that rice would learn to nke us
cheaper than linking right in in Kvy state.

1814
02:20:13.440 --> 02:20:16.600
So yes, unless you yes,
you are yeah. If you don't

1815
02:20:16.680 --> 02:20:22.840
fix that right, there's no point
of growing rice in Kvy if it's cheaper

1816
02:20:22.040 --> 02:20:26.319
in India plus the dollar, plus
the insurance, plus the free to bring

1817
02:20:26.399 --> 02:20:31.600
to Nigeria. So the problem is
that the cost of producing stuff in nature

1818
02:20:31.799 --> 02:20:39.920
is just too expensive. So leg
at workers. But you can't compete against

1819
02:20:39.079 --> 02:20:46.200
countries that have power supply. You're
right, You're right. You've said people

1820
02:20:46.600 --> 02:20:52.200
are like like you or we have
competitive advantage. And when you are like

1821
02:20:52.559 --> 02:20:56.760
you're looking at international tree. Every
every every country we have to produce goods

1822
02:20:56.760 --> 02:21:01.399
and savity as services at which they
are having a lot of competitive advantage.

1823
02:21:01.680 --> 02:21:05.559
You understand what I'm trying to say, so you are very correct. But

1824
02:21:05.680 --> 02:21:09.239
the issue is at this stage that
we are, we lack a lot of

1825
02:21:09.079 --> 02:21:16.680
let me say a lot of what
I say resources that will put us on

1826
02:21:16.760 --> 02:21:20.319
a competitive advantage. Because number one
resources is even capital. We have it

1827
02:21:20.479 --> 02:21:24.479
right. But the issue is when
you're even talking of human capital that we

1828
02:21:24.559 --> 02:21:28.479
also have to look at it.
It's not just about the number of populations

1829
02:21:28.520 --> 02:21:30.760
that you have. You also have
to look at these kids set. Do

1830
02:21:30.840 --> 02:21:35.040
you know that one of those things
that consume most of our effects comes from

1831
02:21:35.159 --> 02:21:41.639
raw materials and I take industrial tools
that are not even being made here in

1832
02:21:41.760 --> 02:21:45.079
the country. Because if we have
a lot of these complaints, because if

1833
02:21:45.120 --> 02:21:48.200
you are Cocapula, there are some
top buyings we have people like the guys

1834
02:21:48.200 --> 02:21:52.559
are saying it was incular top buyings
in Copula that can never be repaired.

1835
02:21:52.639 --> 02:21:58.280
Yet you have to, you know, as much as you want to shifts

1836
02:21:58.319 --> 02:22:01.600
some to buying back to where for
them to repair. And it's also when

1837
02:22:01.600 --> 02:22:05.879
you when you when when you have
organizations too, you want to get new

1838
02:22:07.920 --> 02:22:11.559
new address, they have to still
take effects to get all of these all

1839
02:22:11.600 --> 02:22:16.239
of these affects our effects. So
we look at raw materials and we look

1840
02:22:16.280 --> 02:22:18.120
at that, we look at role
material and we look at fixed assets because

1841
02:22:18.159 --> 02:22:22.280
we don't look at the aspect of
exerset and raw materials most times when we

1842
02:22:22.319 --> 02:22:24.479
look at the productions and even when
we look at production and we look at

1843
02:22:24.559 --> 02:22:31.120
a flow of income. These are
factors that always affect a lot of things.

1844
02:22:31.360 --> 02:22:35.239
When we are talking of important inflation
number one and also when we look

1845
02:22:35.280 --> 02:22:43.559
at the concerning coduct never been floking. We go on the ship looking man

1846
02:22:43.600 --> 02:22:48.959
the ship. Ye okay, so
but I don't want to talk to don't

1847
02:22:48.079 --> 02:22:50.799
we take your time. But any
thing I want to say is as muches

1848
02:22:52.360 --> 02:22:56.280
no matter how mution engineers would see
that, okay, never has been fluided

1849
02:22:56.479 --> 02:23:01.440
and it is affecting the the average
Nigerians. And that embody issue is when

1850
02:23:01.479 --> 02:23:05.479
we need their report their lows.
That is leading sup process of supply and

1851
02:23:05.559 --> 02:23:09.799
demand LTD, determining lated, detaining
whatsoever it's going to define. And this

1852
02:23:09.479 --> 02:23:16.440
one of the importance of doing that
is it brings um uh. It increased

1853
02:23:16.600 --> 02:23:22.520
sport because the issue is its transcreasing
sport and increase car in direct investment because

1854
02:23:22.680 --> 02:23:26.639
a lot of foreigners who are willing
to bring their money to the country because

1855
02:23:26.760 --> 02:23:28.879
of our weaker arrency. That's why
you look like you look at countries like

1856
02:23:28.959 --> 02:23:33.239
start career and look at Japan.
Sometimes we see there and look at why

1857
02:23:33.319 --> 02:23:37.360
is this country a currency weak?
But they deliberately want it that way because

1858
02:23:37.600 --> 02:23:41.799
it has an advantage for them.
But okay, want to say something,

1859
02:23:43.079 --> 02:23:45.840
No, no, just move to
room around. I got you. I'm

1860
02:23:45.840 --> 02:23:48.040
going to room around. Good point. Just to make the point, okay,

1861
02:23:48.920 --> 02:23:54.639
legals to legos to New York,
legals to UK plane tickets is almost

1862
02:23:54.760 --> 02:23:58.799
double to privately to go to our
cry to not so our cry to learn

1863
02:23:58.879 --> 02:24:05.239
to legals to London. It's cheaper
in our crab. But it's mighty cheaper

1864
02:24:05.319 --> 02:24:09.879
in our crab because in government and
Ganda does not hold back the payments to

1865
02:24:09.000 --> 02:24:16.680
the international airlines. Why it's expensive
in Niggers because Nigel does not pay the

1866
02:24:16.760 --> 02:24:20.200
airlines on time. So they've got
to factor into your Nigerian ticket cost,

1867
02:24:20.559 --> 02:24:26.000
the cost of they're not getting paid
back on time, the cost of that

1868
02:24:26.239 --> 02:24:31.079
capital you're paying for it. So
your ticket price to get to London from

1869
02:24:31.159 --> 02:24:37.360
legals incorporate the fact that the Central
Bank of Nigeria will not pay them their

1870
02:24:37.840 --> 02:24:43.840
remittances immediately. Hence they are making
you pay for the lack of dollars in

1871
02:24:43.959 --> 02:24:46.239
Nineturia. This is how it affect
all everyone. This is why we have

1872
02:24:46.440 --> 02:24:50.159
take with those subss that we solve
take away. If you keep the subsidy

1873
02:24:50.879 --> 02:24:54.319
at four sixty eight and you say
wow, I want to buy a ticket

1874
02:24:54.840 --> 02:25:00.799
using for city eight, you pay
back with a higher ticket at price.

1875
02:25:01.000 --> 02:25:05.520
Isn't it the same example with called
cola guy. When you subsidize your narra

1876
02:25:05.600 --> 02:25:09.719
at four sixty eight, you think
that food is really cheap. In Nigeria,

1877
02:25:09.879 --> 02:25:15.360
it's really expensive because you have to
then pay back. They're important inflation

1878
02:25:15.399 --> 02:25:18.760
because that's not the real price.
So just give you guys. You can't

1879
02:25:18.799 --> 02:25:22.680
dodge these things. There's no free
launch. You can't sit down and say

1880
02:25:24.040 --> 02:25:26.680
Nia is one to one. It
will show up. The real price will

1881
02:25:26.719 --> 02:25:31.959
show up somewhere else in the economy. So in Ghana, because you are

1882
02:25:31.079 --> 02:25:37.920
paying that price is because the Gallean
Central Band will credit the international airlines immediately.

1883
02:25:39.280 --> 02:25:41.959
In Nigeria you are paying almost about
the price because the niger Central Band

1884
02:25:43.360 --> 02:25:48.719
does not credit their liss even though
you buy it at the four sixty eight.

1885
02:25:48.200 --> 02:25:52.600
Let's get stuck. I got stuck
filmed, start film, You've got

1886
02:25:52.680 --> 02:25:56.920
to flow, hide yourself. Well, not good evening things pulling this together.

1887
02:25:58.559 --> 02:26:03.520
Maybe how must take a different angle
at this conversation. I'm actually in

1888
02:26:03.600 --> 02:26:09.239
the States. I'm a bit work
for the Favor government, but quite familiar

1889
02:26:09.319 --> 02:26:13.440
was kind of all of this conversation. So what I'm trying to say here

1890
02:26:13.600 --> 02:26:16.719
is that you know, after world
works, so right, the US dollar

1891
02:26:16.879 --> 02:26:22.479
was made the global result currency.
But let's just think about that, right,

1892
02:26:22.600 --> 02:26:26.520
So we were not at the table
during that Branto with that women.

1893
02:26:26.239 --> 02:26:31.600
So now we are all talking about
effex and how the US dollar affects the

1894
02:26:31.760 --> 02:26:37.760
Nigerian ter. This is the primary
resource of the problem of guys. Nigeria

1895
02:26:37.840 --> 02:26:41.920
is never gonna win the battle.
We're basically writing the dead US or writing

1896
02:26:41.959 --> 02:26:45.879
on the broken ass or no,
maybe trying to write a hostel does not

1897
02:26:45.959 --> 02:26:48.479
benong to us. And that's what
we need to start realizing, is that

1898
02:26:50.159 --> 02:26:58.040
if America goes through an inflatory environment, it indirectly impacts every country that uses

1899
02:26:58.079 --> 02:27:03.719
the usd as effex. So you
mentioned Elie about what happened in the seventies

1900
02:27:03.440 --> 02:27:07.680
now that destroyed the Nigerian economy.
That was certainly because Nixon at the time

1901
02:27:07.760 --> 02:27:11.280
took us out of the Goal standard
and switch out to the pH standard,

1902
02:27:11.360 --> 02:27:16.360
which destroyed a lot of complex currency. So no matter what happens, no

1903
02:27:16.399 --> 02:27:20.200
matter what we're trying to do in
Nigeria, which fixed in the FIC situation

1904
02:27:20.959 --> 02:27:28.159
or with our policies, whatever happens
to the dollar would indirectly impact thenither because

1905
02:27:28.719 --> 02:27:35.280
we are running our economy based on
another on the glober usd Basically we want

1906
02:27:35.319 --> 02:27:37.680
to call the unter dollar, you
want to call the petrol dollars, that's

1907
02:27:37.719 --> 02:27:39.600
the Pacifically, I would run the
government, which then goes back to the

1908
02:27:39.639 --> 02:27:46.000
conversation about Britain policies having the central
band correct policies. I'll tell you one

1909
02:27:46.040 --> 02:27:50.920
thing, the same Chicago's call of
economics that we're trying to implement a Nigeria

1910
02:27:50.680 --> 02:27:56.280
is impact in the US right now
because the Federal reserved in the US just

1911
02:27:56.600 --> 02:28:00.959
literally in the last month, the
US dollar as that you were dead as

1912
02:28:01.040 --> 02:28:03.680
increased about one point a trillion dolls
in less than one months. How do

1913
02:28:03.719 --> 02:28:09.319
you think that's going to impact Nigeria
majorly? So we have to be very

1914
02:28:09.360 --> 02:28:13.360
careful about, oh, let's give
the federal government motority to enforce or to

1915
02:28:13.719 --> 02:28:20.239
push policies. The founders of the
United States said they want to separate money

1916
02:28:20.440 --> 02:28:24.319
from governments. If you're able to
separate mode from governments, a lot of

1917
02:28:24.360 --> 02:28:28.840
what we're talking about here, we
can fix Tho's conversations about maybe a Nigeria

1918
02:28:28.879 --> 02:28:33.120
and on that kind of stuff that's
as an underground level policy that Nigerians themselves

1919
02:28:33.159 --> 02:28:39.079
can be commend without full reliance of
effects. But hey, what am I

1920
02:28:39.159 --> 02:28:43.680
to be talking about that? Yeah, is the fact we even no matter

1921
02:28:43.760 --> 02:28:48.200
what government we have, especially in
Nigeria, which we have challenges with all

1922
02:28:48.239 --> 02:28:52.639
of our Africa, is that we
all go to the corrupt right for some

1923
02:28:52.799 --> 02:28:56.840
reason. That is the problem.
So the only one we can fix that

1924
02:28:58.120 --> 02:29:01.040
is this all challenge about oh,
we have to be on the swift system

1925
02:29:01.079 --> 02:29:05.639
because basically effects is still on the
swift system, right. We have to

1926
02:29:05.719 --> 02:29:09.280
find a way to have a parallel
solution to that. Like while we're still

1927
02:29:09.799 --> 02:29:11.879
begging for what bank money and I
am a money, we need to be

1928
02:29:11.959 --> 02:29:16.520
coming up with our own unique African
solutions. It's all of us relying like

1929
02:29:16.760 --> 02:29:22.239
all day along to besa in US
effects like why was all reliant on the

1930
02:29:22.280 --> 02:29:28.799
country that already has its own challenges. So so I mean this argument about

1931
02:29:28.840 --> 02:29:33.120
the US, the reality is this, right, The dollar today is as

1932
02:29:33.200 --> 02:29:37.280
globe very reserve currency. That's a
fact, you know, and it's not

1933
02:29:37.440 --> 02:29:43.719
going to change anytime soon. We
have the bricks China, Russia pushing.

1934
02:29:43.200 --> 02:29:48.680
The best that China is going to
do is to be an alternative. But

1935
02:29:48.840 --> 02:29:52.600
the Chinese you want is not convertible
with means. It's not going to be.

1936
02:29:52.719 --> 02:29:54.920
You can't go to the stude of
our band by Chinese. You want

1937
02:29:56.000 --> 02:30:00.399
to be central band to central bank. The dollar is here to stay for

1938
02:30:00.680 --> 02:30:03.559
now. But when you make the
point of our physical quality, that's the

1939
02:30:05.079 --> 02:30:09.959
advantage the US has. They can
print paper and we have to buy.

1940
02:30:11.639 --> 02:30:13.920
There's nothing we can do about it. The only way you can avoid it

1941
02:30:15.879 --> 02:30:20.879
is if you go back and do
import substitution, where you are reducing the

1942
02:30:20.920 --> 02:30:26.239
amount of dollars or you are increasing
your net exports, so you don't mind

1943
02:30:26.319 --> 02:30:31.680
holding dollars to import wrong materials of
machinery, but you are exporting more to

1944
02:30:31.920 --> 02:30:35.639
gain more dollars. That's really what
we have to focus on and not worry

1945
02:30:35.680 --> 02:30:43.520
about what the US policy would be. In China holds three trillion in US

1946
02:30:43.600 --> 02:30:50.000
dollar reserves, three then te trillion
China, and they are the same folks

1947
02:30:50.040 --> 02:30:54.120
that are pushing to replace the dollar. So get the point they are they

1948
02:30:54.200 --> 02:30:58.920
hold three trillion, but they are
also pushing to replace the dollar because the

1949
02:30:58.040 --> 02:31:01.559
long ensure is that that's not going
to go anywhere. So what we have

1950
02:31:01.719 --> 02:31:07.920
to do is focus internally, get
our cost low, get our productivity height.

1951
02:31:09.079 --> 02:31:11.760
That's all we need. It doesn't
matter the currency we use or want

1952
02:31:11.799 --> 02:31:18.680
to use. Let the cost of
making gawa fall in Nigeria that you cannot

1953
02:31:18.760 --> 02:31:22.399
import glad to Nigeria and self,
why how is important that rice you know,

1954
02:31:22.559 --> 02:31:28.719
will be brought from eat India to
Nigeria and the price is cheaper than

1955
02:31:28.959 --> 02:31:33.120
rise from KP to legas. That's
the question you want to ask. If

1956
02:31:33.159 --> 02:31:37.280
you can fix that, you fixed
eight percent of the point in Nigeria.

1957
02:31:37.000 --> 02:31:41.000
That's really it's it's a very very
easy to fix for us. Guys.

1958
02:31:41.159 --> 02:31:45.280
Were don't round up in about twenty
five minutes, and we're going to make

1959
02:31:45.280 --> 02:31:48.959
sure everyone that suppress people would happen
to say I do a projects where I'm

1960
02:31:48.959 --> 02:31:50.719
going to run acause because the clouds. Let's get be coming short and let's

1961
02:31:50.760 --> 02:31:56.079
get everyone in here. Daddy,
you've got to floor, she daddy,

1962
02:31:56.159 --> 02:32:03.600
Bella, you've got to flow.
So just go ahead. That develler going

1963
02:32:03.719 --> 02:32:11.120
on, that develler going twice,
pain, I'm finding him. So UM,

1964
02:32:11.520 --> 02:32:18.840
I just want to talk about the
effects and uh that year because that

1965
02:32:18.959 --> 02:32:26.840
mistake. With that, they said, So I have some businesses in the

1966
02:32:26.000 --> 02:32:31.239
US with um some of my same
things. So we have this Nagan community

1967
02:32:33.360 --> 02:32:37.600
who we are friends, are family, so majoring. We we created a

1968
02:32:37.680 --> 02:32:43.719
window for them to remit money to
like there and some of them whenever they

1969
02:32:43.760 --> 02:32:48.920
want to move your money problem like
they are two years we the users.

1970
02:32:48.040 --> 02:32:54.639
So I just want to talk about
the behavior complicity normally when we never didn't

1971
02:32:54.639 --> 02:32:58.600
want to say money to don't want
to change money to dollar when they give

1972
02:32:58.639 --> 02:33:03.879
you your what I go, I'm
sending to show amount field they do it

1973
02:33:03.079 --> 02:33:09.520
then nowadays like for two or three
weeks. Now you you year from them.

1974
02:33:09.079 --> 02:33:15.959
Now nono that the means you don't
like everybody's shopping for the best rate.

1975
02:33:16.799 --> 02:33:22.600
So I don't want to talk about
their behavior of the level of movement.

1976
02:33:22.639 --> 02:33:28.479
I make the remitters are not changed. The people I mean they gurge

1977
02:33:28.479 --> 02:33:33.239
people are remitting money to the country
are not changed. Bes the behavior like

1978
02:33:35.600 --> 02:33:39.000
the people are just looking for the
best rate. I'm talking about the age.

1979
02:33:41.959 --> 02:33:45.639
Yeah, I'm not sure. I'm
not sorry to go what you will

1980
02:33:45.840 --> 02:33:50.959
say if you could say, I
mean the the behavior of those who will

1981
02:33:50.000 --> 02:33:56.200
admit uh money to night to the
country as they change, like they like

1982
02:33:56.760 --> 02:34:03.120
the past ones they want to presied
to and go ahead and do it,

1983
02:34:03.239 --> 02:34:07.760
but now they they look for the
best day because the late picture your life

1984
02:34:07.840 --> 02:34:13.520
is changing. Yeah yeah, yeah, so that's that's what I look is

1985
02:34:13.959 --> 02:34:18.760
in like qut with now so it
has gone up to this? Has it

1986
02:34:18.840 --> 02:34:26.280
gone up? No? The devil
remits the same. But the way people

1987
02:34:26.319 --> 02:34:31.159
are changing, I have changed.
The way people are changing. I mean,

1988
02:34:33.479 --> 02:34:35.639
I want to give you your word
that they want to change money.

1989
02:34:35.719 --> 02:34:39.079
Now they go ahead, but now
now they look for they look for the

1990
02:34:39.120 --> 02:34:43.399
big shock for the best rate,
like they want to ask the edge right

1991
02:34:43.479 --> 02:34:50.200
there before they quiet because late that
we're life that are changing. So you're

1992
02:34:50.200 --> 02:34:56.559
saying people are shocking around people have
been more yeah yeah yeah yeah so this

1993
02:34:56.719 --> 02:35:00.840
good. Yeah, Like like before
points I have to shaking. My people

1994
02:35:00.840 --> 02:35:09.000
are like trying to time this thing. Yeah yeah, and I think that

1995
02:35:09.079 --> 02:35:11.000
you would that's sentiment I by not
that's going to go up and it's not

1996
02:35:11.120 --> 02:35:15.239
for welfare, Why would I buy
today? I think that's a good point

1997
02:35:15.280 --> 02:35:20.440
that I think. Yeah, Okay, your Eddie if you got flos Eddie,

1998
02:35:20.440 --> 02:35:28.319
go ahead, Hi, Hi Msical, good good, good evening,

1999
02:35:28.440 --> 02:35:33.040
and thank you for for the fortunity
to speak. Thank you to everyone.

2000
02:35:33.559 --> 02:35:39.159
I'll just go straight to the point, right, Um, I want to

2001
02:35:41.040 --> 02:35:46.000
provide a perspective. And you know
what's happening West Africa, you know,

2002
02:35:46.159 --> 02:35:52.920
because um I'm busy. I'm basically
I kind of travel around West Africa.

2003
02:35:52.799 --> 02:35:58.879
You look so yeah, so you
see um with the with the floos obviously,

2004
02:35:58.360 --> 02:36:07.079
UM, I think it's it's obvious
to everyone that Nigeria was basically subsidizing

2005
02:36:07.159 --> 02:36:15.719
the the origion you know, um
well petroleum products. You know they are

2006
02:36:16.120 --> 02:36:20.200
there their villages, you know,
all around the border of Nigeria, right

2007
02:36:20.319 --> 02:36:26.559
from Semi Euroco down to Quara State
right up you know, even up to

2008
02:36:26.600 --> 02:36:33.520
Anisia. You know where the entire
industry is based on important will from from

2009
02:36:33.639 --> 02:36:39.200
Nigeria. And I'll tell you that
that has changed with the removal of wealth

2010
02:36:39.239 --> 02:36:45.879
subsidies. So we were kind of
you know, biting mode that we could

2011
02:36:45.959 --> 02:36:50.319
choose because um, speaking to you
from Looming, Um, a little will

2012
02:36:50.559 --> 02:37:00.559
is about seven hundred, seven hundred
and sever um Yeah French France seven hundred

2013
02:37:00.559 --> 02:37:05.280
and seven year so um converting that
to narra, that would be about about

2014
02:37:05.360 --> 02:37:11.040
eight hundred and you know, so
you know it's far far easier and cheap

2015
02:37:11.079 --> 02:37:16.879
part to you know in port well
illegally from from Nigeria. And I think

2016
02:37:16.959 --> 02:37:20.440
that that has changed, you know, that has changed the bid. Yeah,

2017
02:37:20.559 --> 02:37:24.600
so I get I get to see, you know, by virtue of

2018
02:37:28.920 --> 02:37:35.040
so so asking you live in Loma
and the cost of petrol has gone on

2019
02:37:35.680 --> 02:37:39.200
because Nigeria has removed the subsidy.
Right, No, so how is that

2020
02:37:41.280 --> 02:37:46.319
the official price of petrol hasn't hasn't
gone up? Yeah? Both, there's

2021
02:37:46.360 --> 02:37:50.319
there, there's there. There was
a lot of black market activity in the

2022
02:37:50.680 --> 02:37:56.680
republic in this year. You know, even in Togo there's a lot of

2023
02:37:56.719 --> 02:38:01.079
black market activities. So if you
go to the black market fast as you

2024
02:38:01.120 --> 02:38:05.559
could get before the full subsers really
taken off, you will get well cheaper

2025
02:38:05.639 --> 02:38:11.399
than you would get at the at
the pomp. Yeah, sou boy,

2026
02:38:11.520 --> 02:38:16.040
that that doesn't happen anymore. I
hear. What I'm asking is that how

2027
02:38:16.200 --> 02:38:20.159
isn't affected the behavior in in your
in that country? Are the more cars

2028
02:38:20.360 --> 02:38:22.319
less cars? What's going on?
So? Um? What? What?

2029
02:38:22.479 --> 02:38:30.079
What? What's happening is you don't
have as much black market activity and also,

2030
02:38:30.559 --> 02:38:35.680
um, the official prize is still
the same seven hundred safer, but

2031
02:38:35.959 --> 02:38:39.280
you don't have as much black market
activity. You know, a lot of

2032
02:38:39.360 --> 02:38:45.079
well coming coming from Nigeria as much. Yeah, yeah, that's what our

2033
02:38:45.120 --> 02:38:48.079
one points are. What are really
going to that? That is you guys

2034
02:38:48.159 --> 02:38:56.079
in that country could not really afford
petrol in the first place. See that

2035
02:38:56.879 --> 02:39:01.520
they're liquent afford petrol in the first
place. You are only getting your petrol

2036
02:39:01.719 --> 02:39:05.239
from Nigeria. Yeah a lot,
dear, a lot, quite quite a

2037
02:39:05.319 --> 02:39:09.120
lot, quite a lot, dear. Really, now that we have the

2038
02:39:09.239 --> 02:39:18.959
real prizing of petrol, they cannot
afford to drive those cars anymore. Is

2039
02:39:18.959 --> 02:39:22.479
that a correct statement to make?
Um? No, I wouldn't say that

2040
02:39:22.680 --> 02:39:28.639
that's a correct statement to make both. Um. I would say I would

2041
02:39:28.680 --> 02:39:33.520
say for a certain that you don't
have as much black market activity as it

2042
02:39:33.799 --> 02:39:39.000
used to be in the past,
so that the black I would say,

2043
02:39:39.040 --> 02:39:45.639
so the black market price was lower
than the official price. Norman was exact

2044
02:39:45.680 --> 02:39:50.639
correct. Definitely, definitely the black
market price was lower than official prize.

2045
02:39:50.600 --> 02:39:58.920
That means the price of petrol in
Loment has gone up in the black market.

2046
02:40:00.120 --> 02:40:03.840
Yes, it is. It's kind
of you know, um, it's

2047
02:40:05.239 --> 02:40:09.680
a power right now. So there's
not not too much black market. Hence

2048
02:40:09.760 --> 02:40:16.159
so much submission is that because there's
now one single price of petrol, there's

2049
02:40:16.159 --> 02:40:22.280
no more black cheaper illegal market.
Because there's now just one real price of

2050
02:40:22.840 --> 02:40:30.440
gearness illumed, the real economy is
now showing the real economy, and the

2051
02:40:30.520 --> 02:40:33.040
real economy is also going to happen
next to almost to say, if we

2052
02:40:33.120 --> 02:40:37.399
could afford to drive ten kilometers,
maybe we drive eight kilometers so and so

2053
02:40:37.520 --> 02:40:41.920
and so that's where I'm going to. Yeah, there has to be in

2054
02:40:41.040 --> 02:40:46.600
demand and consumption. Definitely, real
prices. That happening. Definitely. Even

2055
02:40:46.719 --> 02:40:50.920
in Yeah, Benning Republic, there
was there's quite some crisis you know,

2056
02:40:50.000 --> 02:40:58.079
at the start of the at the
at the start of the you know,

2057
02:40:58.159 --> 02:41:01.719
the removal of the subsidies to those
quite quite a crisis and if you know

2058
02:41:01.920 --> 02:41:07.399
ben A republic very well, there
is there are very few petrol stations because

2059
02:41:07.520 --> 02:41:13.440
it's far easier and cheaper to just
bring it from from from Nigeria. So

2060
02:41:13.559 --> 02:41:20.040
I think the working has changed.
What's gonna see is that now we will

2061
02:41:20.120 --> 02:41:24.040
see the real economy when we take
it with a subsidy, Like when we

2062
02:41:24.120 --> 02:41:28.239
take a training wheels on the bike, we then know if the child can

2063
02:41:28.280 --> 02:41:33.600
I still ride a bicycle or if
it was just or land training wheels to

2064
02:41:33.760 --> 02:41:35.559
ride the bicycle. That's what I'm
That's where I'm going to that we will

2065
02:41:35.600 --> 02:41:41.799
see the real demand, the real
consumption to the real economic effects in better

2066
02:41:41.879 --> 02:41:46.920
republic today. Yeah, that's what
I'm saying. Sure, Yeah, but

2067
02:41:46.200 --> 02:41:52.280
I for you just before I go
of, um, the first question is

2068
02:41:52.360 --> 02:42:00.760
this right? Is it a complete
subsidy removal or just the price that that's

2069
02:42:00.799 --> 02:42:09.040
something that is not clear because yeah, you have this constant evaluation of the

2070
02:42:09.200 --> 02:42:13.760
narra. So it'll get to a
point where you'll be talking about of petrol.

2071
02:42:13.920 --> 02:42:18.360
Just to clarify, I don't nira
or the dollar what I'm talking about.

2072
02:42:18.879 --> 02:42:24.479
Yeah, So what I'm saying is, um, if the price is

2073
02:42:24.559 --> 02:42:31.280
fixed, for instance, if the
price is fixe at five yeah dollar,

2074
02:42:31.879 --> 02:42:35.680
it crude oil. What I'm talking
about, I'm talking about the price of

2075
02:42:35.840 --> 02:42:41.760
petrol at the pump. Oh gotcha. So what has happened was that we

2076
02:42:43.000 --> 02:42:48.959
had we had we have crude oil
and Ningeria price in US dollars because US

2077
02:42:48.040 --> 02:42:54.440
dollar, Because the oil price for
millions of years from SID nineteen sixty nine

2078
02:42:54.680 --> 02:43:01.200
seventy two was below five dollars,
below ten dollars, we did not notice

2079
02:43:01.680 --> 02:43:09.440
the subsidy. But that when the
refineries failed in Nigeria are also coincided with

2080
02:43:09.639 --> 02:43:13.920
when the oil prizes were said to
go up to forty fifty seventy one hundred.

2081
02:43:15.799 --> 02:43:20.159
Hence the subsidute that we did not
feel when the price was below ten

2082
02:43:20.239 --> 02:43:24.600
dollars. That became the largest COHUMN
expential item in the whole of Nigeria.

2083
02:43:26.639 --> 02:43:33.440
So what they've done is to take
away the subsidy right on the crude oil,

2084
02:43:33.920 --> 02:43:37.680
not on the refining. So what
I mean is this, we take

2085
02:43:37.760 --> 02:43:43.520
crude oil, we take it abroad, it's refined, it's brought back as

2086
02:43:43.639 --> 02:43:48.600
PMS. The difference between that procedure
is what they then pay a subsidy.

2087
02:43:50.760 --> 02:43:54.200
They pay the substitute to balance what
they take out and what they bring back

2088
02:43:54.239 --> 02:43:58.639
in as PMS. That's the substitute
the price of the depot in a lands.

2089
02:44:00.200 --> 02:44:03.600
The government today has removed that Subtiday
said, we're not going to subsidize

2090
02:44:03.680 --> 02:44:07.799
the difference between the crude oil we
take out and the payments will bring it.

2091
02:44:07.920 --> 02:44:13.479
And going further, we're even saying
anybody can import and export because the

2092
02:44:13.680 --> 02:44:20.680
NNPC is only going to do so
today. If you get crude oil,

2093
02:44:20.079 --> 02:44:24.879
you can sell at any price you
want in Nigeria. That's what they're saying,

2094
02:44:26.559 --> 02:44:31.879
whatever price you want, you can
sell. The subsidy that we think

2095
02:44:31.120 --> 02:44:35.959
is going to be saved from the
diago to definery might not happen because the

2096
02:44:37.159 --> 02:44:43.040
cost of PMS is really a function
of crude oil. So when sells his

2097
02:44:43.319 --> 02:44:48.360
petrol from the pumps, that price
is going to sell accounting my general laws

2098
02:44:48.399 --> 02:44:52.559
today, he can sell at market
prices acquintment general law today because this cost

2099
02:44:52.639 --> 02:44:58.280
of PMS is taken on the cost
of crude oil, which is prized in

2100
02:44:58.440 --> 02:45:03.440
dollars. So the simply taking away
the subsidy that they pay at the pot

2101
02:45:03.079 --> 02:45:07.479
to say that if whatever you bring
it to Nigeria, Nigeria used to have

2102
02:45:07.559 --> 02:45:13.280
a replated price, the difference between
the repluted price and the market price that

2103
02:45:13.520 --> 02:45:16.000
was a subsidiate were paying. So
once it's taken that away, that means

2104
02:45:16.040 --> 02:45:22.280
that whatever price it lands in Nigeria, that market price, you add your

2105
02:45:22.399 --> 02:45:24.799
retail you add your profit. You
can sell at whatever price you want.

2106
02:45:24.840 --> 02:45:31.120
So that's what they're going to say, No more subsidy of crude oil irrespectively

2107
02:45:31.239 --> 02:45:35.479
at the parts at the POMPS.
That's what you're saying. It doesn't make

2108
02:45:35.559 --> 02:45:37.120
sense to you, sir. Yeah, yeah, that sounds good too.

2109
02:45:37.280 --> 02:45:43.479
I think that's some useful information.
Yea. So so no, the simple

2110
02:45:45.280 --> 02:45:50.280
simple answer, no recolated PMS price
in Nigeria going forward. That's a simple

2111
02:45:50.360 --> 02:45:54.920
answer. So you can the market
to determine the price. No regulated price.

2112
02:45:56.479 --> 02:46:01.239
But of course you are important the
PMS with dollar. The dollar has

2113
02:46:01.360 --> 02:46:07.479
also no recoulated price, which means
that the PMS price today it's a function

2114
02:46:07.559 --> 02:46:11.079
of crude oil and a function of
the dollar exchange rate, which means it's

2115
02:46:11.079 --> 02:46:15.280
going to go up. The way
it comes down, they save the price

2116
02:46:15.319 --> 02:46:20.399
of crude oil internationally goes down and
they never gets stronger than the price of

2117
02:46:20.479 --> 02:46:24.360
p must will fall otherwise it's girls
going to stay up. That's what it

2118
02:46:24.399 --> 02:46:28.120
means. All right, I got
let me get ruby in here, roby

2119
02:46:28.239 --> 02:46:35.159
Matthews whatso every times? Look,
thanks Matthew, you've got to fall Yeah,

2120
02:46:37.000 --> 02:46:39.559
okay, thanks. Thanks. UM
trying to start job for this opportunity.

2121
02:46:39.920 --> 02:46:45.079
UM listening so you can for a
while and kind of live the way

2122
02:46:45.120 --> 02:46:48.399
you put the economic masses, trying
to look at what the challenge you're being

2123
02:46:48.479 --> 02:46:54.200
faced with. UM. We have
a we have a we have a demand.

2124
02:46:54.840 --> 02:46:58.959
We have a supply issue in regards
to Boris. And this is my

2125
02:46:58.200 --> 02:47:05.280
view. I think whenever we get
those forests in true CBN, or we

2126
02:47:05.360 --> 02:47:11.959
get them true other means of through
pintex or whatever it is, it helps

2127
02:47:13.079 --> 02:47:16.440
questions the demand we have in the
markets. And I think, in as

2128
02:47:16.559 --> 02:47:22.239
much as we talked about remittance is
through all those others the really great long

2129
02:47:22.280 --> 02:47:28.399
way in helping. Because I gets
say five hundred dollars to my posting back

2130
02:47:28.479 --> 02:47:31.399
in Nigeria. They're not going to
spend five hundred five hundred dollars in the

2131
02:47:31.440 --> 02:47:35.440
markets in Beding or where we are
and other accounts. They need to come

2132
02:47:35.479 --> 02:47:39.120
back to the NARRA, so they
take it to the local abuki and the

2133
02:47:39.200 --> 02:47:43.040
man change it into narra to them
who who In terms, we sell the

2134
02:47:43.200 --> 02:47:46.840
same prect to somebody else who needs
it. So at the end of the

2135
02:47:46.000 --> 02:47:52.239
day it helps us. So how
the nara comes into the country, probably

2136
02:47:52.280 --> 02:47:56.920
I don't care. The most important
thing is that we need to get enough

2137
02:47:56.959 --> 02:48:01.040
of this. But while we have
not people in that for us saying they're

2138
02:48:01.040 --> 02:48:05.520
doing so much remis hands um into
the country. We also see that is

2139
02:48:07.440 --> 02:48:16.959
in the last five a lot we're
taking up out of the country and that

2140
02:48:16.120 --> 02:48:22.639
it's impacting the economy. I think
more we're not saying the impact of what

2141
02:48:22.799 --> 02:48:33.399
jackpar is because you're breaking up and
making some good with the chicken. And

2142
02:48:33.559 --> 02:48:37.719
I think that is where the problem
realize they're live in this country and they're

2143
02:48:37.799 --> 02:48:45.639
taking up about twenty thirty thousum dollars
with them out. It's a normal strain

2144
02:48:45.719 --> 02:48:50.120
on our economy. I don't think
we haven't remained us too match that level

2145
02:48:50.479 --> 02:48:54.920
in these boring clients. They're not
they're not setting in easily, so they

2146
02:48:54.920 --> 02:49:03.399
are uploading the japas is back in
Nigeria instead of r rex also and it

2147
02:49:03.559 --> 02:49:09.360
would it's not really it starts really
positive. What we need to do is

2148
02:49:09.440 --> 02:49:13.920
to say how that we get device. I hear you your audience breaking up

2149
02:49:15.000 --> 02:49:18.319
lets really jumping right. So the
jackper thing in the long rum with favor

2150
02:49:18.440 --> 02:49:22.200
Nigeria, no mistakes about it.
Before jackber Nagels are get in twenty five

2151
02:49:22.280 --> 02:49:28.760
billion. Twenty five billion unofficially Annalier
do we can't that's an estimate. Unofficially,

2152
02:49:30.159 --> 02:49:33.520
all those kids going to going to
Canada are going to start a ceremony

2153
02:49:33.600 --> 02:49:35.840
back to Nigeria in the next five
to sixty seven years. I need to

2154
02:49:37.000 --> 02:49:41.760
keep on increasing as snowballing. But
the real LEGATANSIP we want, it's not

2155
02:49:41.920 --> 02:49:46.639
just the welfare, is the transfer
of technology, the transfer of investments so

2156
02:49:46.760 --> 02:49:50.799
that when we say fdi in to
be a Ninegeril that works in see their

2157
02:49:50.920 --> 02:49:56.159
Canada that would then bring their Canada's
process to up to manufacturers something in billing.

2158
02:49:56.879 --> 02:50:01.040
That's when you start to see like
what China have done with a thousand

2159
02:50:01.120 --> 02:50:03.159
talents. So Chinna will tell you
that. Listen, whenever you work in

2160
02:50:03.200 --> 02:50:07.159
the world, if you want to
look it back to China and with that

2161
02:50:07.360 --> 02:50:09.520
tech, they will sponsor you.
And that's where we try to see the

2162
02:50:09.600 --> 02:50:13.879
ten thing. So right now,
I think it's an investment that Nigeria is

2163
02:50:13.000 --> 02:50:18.760
making in those countries that will really
better the problem for me with Jack Preston,

2164
02:50:18.879 --> 02:50:22.559
it's not a planned thing. People
are leaving an agent woman has no

2165
02:50:22.040 --> 02:50:30.399
should we say steak or there's no
planning? Were we saying? We're saying

2166
02:50:30.440 --> 02:50:37.840
about this? Okay, sorry,
because I'm talking from the bluetooth. The

2167
02:50:37.920 --> 02:50:43.120
guy who leaves from India, from
China to whatever in the US has a

2168
02:50:43.239 --> 02:50:48.280
plan to come back home. The
government also has a plan to come back

2169
02:50:48.319 --> 02:50:54.040
home. We are just antipating that
somewhere the goodness of that individual who leaves

2170
02:50:54.360 --> 02:51:00.399
in my side to come back.
It doesn't need to You don't need to

2171
02:51:00.440 --> 02:51:01.959
come when I easy to come back, come back. And it says that

2172
02:51:03.239 --> 02:51:09.680
because in commit investment comes back,
the money, money comes back. The

2173
02:51:09.799 --> 02:51:13.040
money will come back because right now
when they look at the entire world,

2174
02:51:13.200 --> 02:51:16.479
right now, where do you see
growth in the entire world? Europe is

2175
02:51:16.559 --> 02:51:22.920
gone, even China is China explained
that a population is slum in China.

2176
02:51:24.000 --> 02:51:28.000
You have the Vietnams that are doing
very very well. China explained that in

2177
02:51:28.079 --> 02:51:31.000
India is booming. What you're going
to find is that if you're a Nigerian

2178
02:51:31.200 --> 02:51:35.200
based guy that you are born in
Nigeria or your parents were Nigeria, it's

2179
02:51:35.319 --> 02:51:39.600
easier for you to best back home
because you have more links, you can

2180
02:51:39.680 --> 02:51:45.399
get more information, so your capital
will flow back to where you know,

2181
02:51:46.120 --> 02:51:48.319
appart from the US where you're based
out of. If you look at that's

2182
02:51:48.319 --> 02:51:52.200
where in the US has the advantage
that the Indian folks that are in the

2183
02:51:52.399 --> 02:51:58.079
US right, the US is a
big FDI. You know, I guess

2184
02:51:58.120 --> 02:52:03.719
we don't forget that. Why because
go to the US, take money from

2185
02:52:03.799 --> 02:52:09.319
their country to the US, who
forget that, and then it reverses the

2186
02:52:09.479 --> 02:52:13.000
second generation, their kids take their
money from the US back to India,

2187
02:52:13.440 --> 02:52:18.280
back to China, back to Croatia. It's going to happen in that I'm

2188
02:52:18.280 --> 02:52:20.079
not going to be an outlier.
It's same thing is going to happen.

2189
02:52:20.159 --> 02:52:24.479
The problems that when we led start
to happen, and can we channel those

2190
02:52:24.600 --> 02:52:31.159
flows of moneys into the productive sector. Lemon trances alone, it's not FDI.

2191
02:52:31.440 --> 02:52:35.000
It doesn't build a road. We
need remittance that would build a road

2192
02:52:35.040 --> 02:52:39.040
in building. We need remoters that
would basically go to a village and produce

2193
02:52:39.120 --> 02:52:45.120
solar power in that village, like
what we would call and social capital.

2194
02:52:45.479 --> 02:52:48.159
It's not capital in the quote unquote, but because it's in Nigerian, he

2195
02:52:48.280 --> 02:52:54.159
can say I would ignore returns that
are above in pleasure for now just to

2196
02:52:54.239 --> 02:52:56.040
get the stand up living to go
up. So you have the Gramming bank

2197
02:52:56.159 --> 02:53:01.719
type banks, all those sort of
things are we want to see happening,

2198
02:53:01.319 --> 02:53:07.000
and it will happen. Then the
question is what did it happen? That's

2199
02:53:07.040 --> 02:53:09.760
what we don't know, but it
will happen. That's why we need to

2200
02:53:09.879 --> 02:53:13.879
plan, you know, to that
that, we have to have a Minister

2201
02:53:13.000 --> 02:53:18.200
of the Diaspora whose job it is
to go out and attract not just the

2202
02:53:18.360 --> 02:53:24.719
welfare but the FDI and the tech
from Nigerians abroad. It's a niger and

2203
02:53:24.879 --> 02:53:30.639
I know he works in John Hopkins, you know, the brilliant cancer guy.

2204
02:53:30.760 --> 02:53:35.079
You know he's here. He's sort
of a cancer hospital in Nigeria to

2205
02:53:35.200 --> 02:53:37.840
fight cancer here, right. He
doesn't have to, you know, he's

2206
02:53:37.879 --> 02:53:41.680
making a lot of money back in
America, but he's here telling us something.

2207
02:53:41.799 --> 02:53:46.360
Taking all the risk of kidnapping or
being killed and all that sort of

2208
02:53:46.399 --> 02:53:52.520
a cancer hopital in legals and Emo
states that's what he's doing. There are

2209
02:53:52.840 --> 02:53:56.719
many Niners in Maryland that would like
to do the same thing, but the

2210
02:53:56.879 --> 02:53:58.440
government has got to give them a
plan. Okay, if you want to

2211
02:53:58.520 --> 02:54:03.879
become will pay all your import duties, will give you land for free.

2212
02:54:03.120 --> 02:54:07.760
Who you can send your money tax
free for the next five years, you

2213
02:54:07.799 --> 02:54:13.639
will pay taxes. You have got
to specifically target Ninterias to bring them back

2214
02:54:13.680 --> 02:54:18.319
home to Ninjier. Channa has like
I said, the thousand Talents program,

2215
02:54:18.719 --> 02:54:20.920
copy it, do it. It's
not just to say send money home.

2216
02:54:20.959 --> 02:54:26.360
So this basin is talking about remitance. But the real long term goal should

2217
02:54:26.360 --> 02:54:31.479
be target these folks fd FPI and
also investment. Because they know Ninegia better.

2218
02:54:33.040 --> 02:54:35.120
They can go to your plage and
do with a project there. They

2219
02:54:35.280 --> 02:54:41.079
understand the nuances that they will know
what I will be here, but will

2220
02:54:41.200 --> 02:54:43.399
start for now and will getting better. If you don't do that, when

2221
02:54:43.479 --> 02:54:48.000
you start to do that, then
the feigners will follow you into the country.

2222
02:54:48.479 --> 02:54:52.200
We can depend on just to foreigners. We have to target Ninjurians.

2223
02:54:52.399 --> 02:54:56.600
You needs to Adsprus. That's to
be their core activity, because which our

2224
02:54:56.639 --> 02:55:01.159
business gives you to five billions a
year, which is our business. Nagera

2225
02:55:01.239 --> 02:55:03.440
gives into up in a year,
so if one gives in third billions,

2226
02:55:03.840 --> 02:55:09.319
you focus on it. Board level
seat on the Niger Nigeria set to council

2227
02:55:09.719 --> 02:55:13.280
important to the president. Guess all
that is trust steps so that not so

2228
02:55:13.440 --> 02:55:16.120
with gravitas. You know not the
position and you put the person there to

2229
02:55:16.360 --> 02:55:20.520
pass laws to make this things easier. If you don't do it that way,

2230
02:55:20.840 --> 02:55:24.000
then what are we doing. You're
just in iron and steel and agriculture.

2231
02:55:24.559 --> 02:55:30.120
When you have all these boys Bonder
boy. If you package Borona boy

2232
02:55:30.520 --> 02:55:35.000
and you attached Bona boy for instance, to a badmaid shoes, and you

2233
02:55:35.120 --> 02:55:39.760
tell Bona Boy the Government of Nigeria
in the exchange that you can import any

2234
02:55:39.920 --> 02:55:43.440
currency you want to import free of
child. You have to advertise ABAMAID shoes

2235
02:55:43.559 --> 02:55:50.399
or there's carnal letter. ABAMAID shoes
gone from being captured from from legals.

2236
02:55:50.799 --> 02:55:54.159
Package Bona boy to only wear shooting
in the back from Nigeria. When it

2237
02:55:54.239 --> 02:55:58.239
starts to wear it, I guarantee
you all those expands in the US UK

2238
02:55:58.399 --> 02:56:03.239
will start to wear a bas shoes. It doesn't have to be one shoe

2239
02:56:03.280 --> 02:56:07.719
company. You have Egyptian cotton,
Colombian coffee, Swiss chocolates. That's how

2240
02:56:07.760 --> 02:56:11.280
you build a brand around the country. So now it's will be about to

2241
02:56:11.360 --> 02:56:16.079
wear that shoe that Bonna is wearing
from Nigeria. I want that letter from

2242
02:56:16.079 --> 02:56:20.520
a canal. I want those other
people to touch it. That's how you

2243
02:56:20.639 --> 02:56:22.680
build the economy, not every time. Agri culture who are in my cutlass,

2244
02:56:24.040 --> 02:56:28.079
we have to be one, you
know imagination. We have the assets.

2245
02:56:28.360 --> 02:56:31.879
We are all wearing Hollywood shon.
Now we pu put call their hair

2246
02:56:31.959 --> 02:56:35.600
because don't look like rappers. People
wear suits in the hotel and after alone

2247
02:56:35.639 --> 02:56:39.239
to look at rappers walking stick.
Boys to man we have the same thing.

2248
02:56:41.360 --> 02:56:43.280
If boys to man wear in Nangeria, who will not better say what

2249
02:56:43.360 --> 02:56:46.479
we're wearing? We say to be
boys tomen need them jobs. But now

2250
02:56:46.559 --> 02:56:50.959
we have Bonna boy. We skid
all these guys rama our bing nothing with

2251
02:56:52.120 --> 02:56:54.479
them. If the one that had
Bona boy today, you know we don't

2252
02:56:56.159 --> 02:57:00.479
doing the same thing. So we
have to get agreeing. That's that's MS.

2253
02:57:00.799 --> 02:57:03.920
But it's more us money money.
We have to be creative. These

2254
02:57:03.000 --> 02:57:09.520
are national talents. We had Fella
Jamaica had had my man what's his name?

2255
02:57:09.639 --> 02:57:13.959
The money. Look at how they
cheat the Bob money. Look at

2256
02:57:13.959 --> 02:57:18.319
how njec fella they killed the last
mother killed his mother, jielding the guy

2257
02:57:18.399 --> 02:57:22.680
for holding currency fella before this Bonda
boy that was the highest Africa with the

2258
02:57:22.840 --> 02:57:26.840
highest. I tend us for any
concept in the world. Feller, and

2259
02:57:26.920 --> 02:57:33.159
the inventor of this thing is for
us, us as singing today took away

2260
02:57:33.239 --> 02:57:37.879
his house. Look by everything the
government has destroyed. That guy that the

2261
02:57:39.079 --> 02:57:41.840
sampol wasn't happening. Nature is the
leaded Bob Molley. So now these boys

2262
02:57:41.879 --> 02:57:46.840
have now come and I've taken that
man to the imagine they had slept the

2263
02:57:46.920 --> 02:57:52.000
fella from nineteen seventy today one that
point would have been things now. But

2264
02:57:52.159 --> 02:57:54.840
you know, Niager, we've got
to do things to people more. You

2265
02:57:54.920 --> 02:57:58.000
know, it's not just every time
CP and NNPC. What is n NPC?

2266
02:57:58.440 --> 02:58:03.559
What is a PC? If you
have all the ute talented who invented

2267
02:58:03.639 --> 02:58:11.120
notly would not the Najurant government knowlligwood
was invented by Nigerian entrepreneurs. Nagurant government.

2268
02:58:11.440 --> 02:58:15.600
The same with this music can be
natural entrepreneurs. Young people, So

2269
02:58:15.719 --> 02:58:20.200
let's do better. Are thinking a
lot of time guys. Yeah, so

2270
02:58:20.159 --> 02:58:24.639
I thought for the guys who spent
about three hours and we're going to have

2271
02:58:24.680 --> 02:58:30.959
to shut it down, let's just
say thank you to everyone that has sort

2272
02:58:31.000 --> 02:58:35.600
of helped in here we can comment. This speceis are designed to allow us

2273
02:58:35.639 --> 02:58:37.600
to speak and to think about the
issues on hand, so that we can

2274
02:58:37.680 --> 02:58:41.680
then go back. I'll start to
have stopped with a guy we know and

2275
02:58:41.799 --> 02:58:46.280
say hey, can we move to
deal in this way or in that way.

2276
02:58:46.799 --> 02:58:52.079
Remnances are very important and the daspora
are a very important part of iconic

2277
02:58:52.159 --> 02:58:58.680
policies. The nine children, Nira
or the economy cannot survive without remententrances.

2278
02:58:58.719 --> 02:59:03.159
So I hope that we'll get together
and we kind of stend to bring in

2279
02:59:03.360 --> 02:59:07.879
more and more funds into the country
so that benefits us in employment, in

2280
02:59:09.000 --> 02:59:11.959
the growth of the economy and allows
us to have peace and listen, this

2281
02:59:13.120 --> 02:59:16.360
country, Let's give them the right
to vote. We want their money,

2282
02:59:16.760 --> 02:59:20.479
give them the right to vote,
and let's hold our own leaders here accountable

2283
02:59:20.959 --> 02:59:24.040
on that. Doro gude them.
Let you guys go as you guys Saturday

2284
02:59:24.159 --> 02:59:26.440
next week all the time with space
with me. Carlo Roger, thank you

2285
02:59:26.520 --> 02:59:30.719
so much. Guys for journeying in
and I'll see you guys later. Have

2286
02:59:30.840 --> 02:59:31.239
a good day and bad