WEBVTT 1 00:00:00.080 --> 00:00:06.960 Folks, Good evening and welcome to another money's space with me. Carlu Aja, 2 00:00:07.639 --> 00:00:11.560 thank you for being here. Thank you. Let me just start real 3 00:00:11.640 --> 00:00:20.199 quick right this evening by just expressing most sincere condolences to the family of doctor 4 00:00:20.239 --> 00:00:27.199 Herbert Wingway and also to mister Abimbala Ogunbanjo. Both of them were reported or 5 00:00:27.280 --> 00:00:33.320 passed away and it's indeed very very sad. I just want to put that 6 00:00:33.520 --> 00:00:39.840 out there. Both men have done so much for themselves and for Nigeria and 7 00:00:39.880 --> 00:00:45.159 for their organizations and it's just a very very painful loss. We it came 8 00:00:45.200 --> 00:00:50.759 out of shock and we are indeed morning with this type of access with the 9 00:00:50.840 --> 00:00:55.399 families of both men. So just want to put that out there and express 10 00:00:55.479 --> 00:01:00.079 our condolences to the families and to the organizations of these two great men. 11 00:01:00.880 --> 00:01:07.680 Thank you. Okay, So today we want to talk about really the NNPC 12 00:01:07.879 --> 00:01:12.680 loan, the exchange rate and the monitary policy that we've seen in Nigeria, 13 00:01:14.040 --> 00:01:15.840 should we say, over the past two weeks, you know, they've been 14 00:01:15.879 --> 00:01:19.799 a lot lots of things have happened. We're just going to talk about the 15 00:01:19.920 --> 00:01:25.560 NNPC loan decening, but of course the monetary and the exchange rate policies have 16 00:01:25.719 --> 00:01:30.480 been front and center this weekend, so again very very important that we also 17 00:01:30.599 --> 00:01:34.200 actress them. I was supposed to have a guest here today, doctor Bob 18 00:01:34.280 --> 00:01:38.920 Berry. I don't see him, so when it's going to start off, 19 00:01:38.120 --> 00:01:41.799 I'll just give you my own take of what I think is going on. 20 00:01:42.359 --> 00:01:45.719 If he does join, he brings a lot of data and fact to the 21 00:01:45.760 --> 00:01:49.359 discussion, so I felt it would be he'll be a wonderful guest to have 22 00:01:49.480 --> 00:01:53.319 here as well. But let's just more, or let's explore what we know 23 00:01:53.599 --> 00:01:57.840 right now, and if you might, let me start with the exchange rate 24 00:01:57.359 --> 00:02:00.840 and the monetary policy. Now, if you are a civilian when I mean 25 00:02:00.879 --> 00:02:06.120 similar, you don't follow finance, you understand what monetary or ex giberate policy 26 00:02:06.120 --> 00:02:08.960 means to you. There's a lot of change that is happening in Nigeria. 27 00:02:09.439 --> 00:02:15.240 You can implore. Your dollar rate has gone from even the black market rates 28 00:02:15.360 --> 00:02:19.039 from one four now your bank which is now one four, so that it's 29 00:02:19.159 --> 00:02:23.879 like what you pay in the bank, it's almost similar what you pay today 30 00:02:23.960 --> 00:02:27.319 to the guys that sell dollars on the streets. So what's going on? 31 00:02:27.400 --> 00:02:30.280 You hear about float? You hear about that there is no more forty four 32 00:02:30.319 --> 00:02:35.199 items. What really is happening? So I just want to explain this to 33 00:02:35.280 --> 00:02:38.280 the guy that doesn't even know about finance, just what to seremoney back and 34 00:02:38.319 --> 00:02:43.240 forth, what to pay for his subscriptions and to pay for its important. 35 00:02:43.479 --> 00:02:46.319 So I just try to say some from the very beginning. So in the 36 00:02:46.400 --> 00:02:50.080 past, what you had in the past was that you have what we call 37 00:02:50.199 --> 00:02:53.680 a Central Bank of Nigeria rate, call it whatever name you're in a college, 38 00:02:53.680 --> 00:02:59.199 could be nafex rate, but it's an essentral bank approved rate to exchange 39 00:02:59.240 --> 00:03:04.039 your naira to the dollar. So it was a pegged rate. Peg means 40 00:03:04.039 --> 00:03:07.199 that the Central Bird would say, this is the amount of nira that if 41 00:03:07.199 --> 00:03:12.199 you bring to us, will give you a United States dollar. Back then 42 00:03:12.199 --> 00:03:15.599 it was about four hundred and forty six or whatever. Let's call it five 43 00:03:15.680 --> 00:03:19.719 hundred, easier to just say five hundred. So that rate is pegged. 44 00:03:20.240 --> 00:03:23.680 So when you peg something, you are saying to the Nigerians that any time 45 00:03:23.800 --> 00:03:28.199 you bring me a naira, I will give you a dollar. So if 46 00:03:28.240 --> 00:03:31.000 you give me five hundred mira, you get one dollar. So where do 47 00:03:31.039 --> 00:03:35.000 you get your dollars from to give the Nigerias that come to you. You 48 00:03:35.159 --> 00:03:39.879 get it from your foreign reserves. So key points from your foreign reserves. 49 00:03:40.159 --> 00:03:46.439 So when Nigerians give you a nira, you go to your foreign reserves and 50 00:03:46.479 --> 00:03:51.000 you give Nigerians a dollar. So they give you five hundred narra, you 51 00:03:51.120 --> 00:03:53.840 give them one dollar. That's how you will. That's what you have promised 52 00:03:54.159 --> 00:03:59.960 the Nigerians. So why the Nigerians need dollars because they want to import, 53 00:04:00.479 --> 00:04:03.719 don't want to pay for school abroad, don't know the hotels abroad. Where 54 00:04:03.719 --> 00:04:06.639 do you get your dollars from? You get your dollars from the NNPC. 55 00:04:06.800 --> 00:04:11.599 This is sich chatter back. Now you get your dollars from the NNPC that 56 00:04:11.719 --> 00:04:16.439 sells crude oil. And you also get your dollars from the inflow the remittances 57 00:04:16.759 --> 00:04:21.600 that the Nigeria's let their live abroad send back to Nigerian banks. So all 58 00:04:21.639 --> 00:04:26.759 those dollars you put in your reserves. Then when requests come, you take 59 00:04:26.800 --> 00:04:31.160 those dollars and you exchange for five hundred era. Right. What it means 60 00:04:31.240 --> 00:04:36.959 is this, if Nigeria's export more or Nigeria's send more money back home to 61 00:04:38.040 --> 00:04:43.000 Nigeria then the reserves are large. That means in Nigeria that comes to you 62 00:04:43.120 --> 00:04:46.720 and gives you five hundred nira, you can easily give them a dollar and 63 00:04:46.839 --> 00:04:50.480 you are good. But what happens if your crude oil exports go from two 64 00:04:50.560 --> 00:04:57.240 point one million barrels exports a day and fall to one point three one point 65 00:04:57.240 --> 00:05:01.160 five million barrels a day. This then means at your reserves that you are 66 00:05:01.199 --> 00:05:06.319 using to exchange for that five hundred era, it's falling, but the demand 67 00:05:06.360 --> 00:05:11.160 has not fallen. Remember, your denigrants want the dollars to pay for schools 68 00:05:11.160 --> 00:05:15.439 abroad, for medicals abroad, and also just to import pms. You're a 69 00:05:15.480 --> 00:05:20.439 still driving a car, so the demand has not fallen, but your reserves 70 00:05:20.480 --> 00:05:25.560 have fallen, and you have a peg. Normally, when you have a 71 00:05:25.600 --> 00:05:29.319 peg, what do you do when you simply say I'm going to increase that 72 00:05:29.399 --> 00:05:34.480 peg from five hundred to eight hundred? What does that do that to reduce 73 00:05:34.759 --> 00:05:41.160 the demand for dollars and to reduce the demand for input because you've raised the 74 00:05:41.240 --> 00:05:46.519 cost from five hundred to eight hundred. But what did Nigeria do from twenty 75 00:05:46.560 --> 00:05:51.920 to fifteen? All the way we handle convert the central bank refused to you 76 00:05:51.920 --> 00:05:57.600 know, to move with the market. They refuse to adjust that peg. 77 00:05:58.120 --> 00:06:04.120 We had the past president equal quit defoil reserves stability to equp against him. 78 00:06:04.439 --> 00:06:09.639 He says, Oh, if the dun't one should give body to import food, 79 00:06:10.000 --> 00:06:14.519 no one should devalued in ira. When you remove the peg. That's 80 00:06:14.519 --> 00:06:18.519 what the value means. You know you are you are devaluing the ira by 81 00:06:18.639 --> 00:06:24.879 increasing the peg from five hundred to eight hundred. So for four years we 82 00:06:25.000 --> 00:06:30.759 lie to ourselves. The demand went up and we retained the peg. So 83 00:06:30.839 --> 00:06:34.360 the value of the nira was not that five hundred that we used to see 84 00:06:34.399 --> 00:06:41.040 from twenty fifteen all three. It was much much higher than that. So 85 00:06:41.079 --> 00:06:46.560 what then happened was in twenty twenty three when the new government came over and 86 00:06:46.639 --> 00:06:50.240 they removed the peg. You then saw that what they were trying to achieve 87 00:06:50.360 --> 00:06:55.800 was to protect the four reserves of Nigeria. If you have been following, 88 00:06:55.920 --> 00:07:00.439 Nigeria has about the three billion in foreign reserves. But JP Morgan said that 89 00:07:00.480 --> 00:07:06.240 we really don't have that tetitriate billion because a lot of that money has already 90 00:07:06.279 --> 00:07:12.560 been borrowed. So we're borrowed say nine billion dollars and use the foreign reserves 91 00:07:12.560 --> 00:07:17.759 as collateral. So net net, we don't have esgitarate billion. We have 92 00:07:18.000 --> 00:07:21.959 less than that. So if you are a president and you're come into office, 93 00:07:23.199 --> 00:07:29.439 you are faced with no foreign reserves to maintain a peg. So what 94 00:07:29.480 --> 00:07:32.639 do you then do? You then? Float means that you remove the peg 95 00:07:32.720 --> 00:07:39.360 completely. You allow the peg or the exterior to be determined not by a 96 00:07:39.480 --> 00:07:44.639 guy sitting in the scipient office, but by the demands of demand and supply 97 00:07:44.759 --> 00:07:49.000 of the market. So if more Nigerians want dollars, then the price of 98 00:07:49.199 --> 00:07:56.639 dollar will go up. No peg. If more Nigerians import dollars into Nigeria, 99 00:07:56.759 --> 00:08:03.439 either true exports or true remittances, then there'll be more dollars in Nigeria 100 00:08:03.519 --> 00:08:09.519 to give to folks that want dollars according to the demands or the supply in 101 00:08:09.560 --> 00:08:11.959 the banks. That's what you are seen, guys, happen the market. 102 00:08:13.519 --> 00:08:16.639 So fast forward to say last week, we said we saw the Central Bank 103 00:08:16.639 --> 00:08:22.920 of Nigeria health the international money transfer easier to say, listen, when you're 104 00:08:22.920 --> 00:08:26.680 bringing dollars into Nigeria, we allow you to sell at any price you want. 105 00:08:28.079 --> 00:08:31.160 In the past, this was not so so Nigeria in the past did 106 00:08:31.199 --> 00:08:35.720 a fake float. We said we had floated in Iran. But if you 107 00:08:35.840 --> 00:08:39.320 bring dollars into Nigeria, you still don't sell at the market price. So 108 00:08:39.399 --> 00:08:45.799 you saw the black market price. Then you saw this CBN withitted abag price 109 00:08:46.080 --> 00:08:50.159 that was still quote unquote a kind of peg because we told them you could 110 00:08:50.200 --> 00:08:54.279 not sell at the market price. But now Sybian has told anyone bringing dollars 111 00:08:54.320 --> 00:08:58.399 in, if you bring dollars in, you sell at whatever price you want 112 00:08:58.440 --> 00:09:01.919 to sell, which would mean the highest or the market determined price. That's 113 00:09:03.039 --> 00:09:05.960 one thing they've told them. Then Silian has also said you can't give away 114 00:09:07.120 --> 00:09:11.759 dollars in Nigeria. So if someone sends bill dollars from Houston to Nigeria, 115 00:09:11.879 --> 00:09:18.720 I give them naira. I suspect that rule is because the foreign firm is 116 00:09:18.759 --> 00:09:22.679 not bringing their own dollars into Nigeria. That's what I suspect, because what 117 00:09:22.759 --> 00:09:26.559 a steven argument is that the dollars in Nigeria are our dollars. If you 118 00:09:26.600 --> 00:09:31.559 want to give it Nigerian dollars, fly in your own dollars in America, 119 00:09:31.879 --> 00:09:35.639 bring into the Nigerian back and say this is my dollars. So when the 120 00:09:35.679 --> 00:09:39.879 guy in America sends dollars, then you give him dollars. But the Nigerians 121 00:09:39.879 --> 00:09:45.240 really want dollars, I don't think. So what Nigerians want is that denial 122 00:09:45.360 --> 00:09:50.080 ra they're holding their hand can be exchanged at the best exchange rate, the 123 00:09:50.320 --> 00:09:54.639 market determined exchange rate. So that's what you're seeing right now that the central 124 00:09:54.639 --> 00:10:00.279 bank has gone full flute. You can bring in your dollars at a any 125 00:10:00.519 --> 00:10:05.720 market price that you determine you can sell at because the reserves are going to 126 00:10:05.759 --> 00:10:09.879 be protected. Our reserves are nearly zeros right you see a three billion, 127 00:10:11.159 --> 00:10:15.519 but they are spoken for. So that's why it's the sibient's struggling to pay 128 00:10:15.559 --> 00:10:20.480 two billion today to disguise to clear the outstandings to pay some one into airlines 129 00:10:20.679 --> 00:10:24.279 because they don't have the reserves nor liquidity to meet those publications that have been 130 00:10:24.360 --> 00:10:30.080 created over the years. That's what's going on. So what will happen going 131 00:10:30.120 --> 00:10:35.320 forward is this because Nigerian's that Then we make this point again, the overriding 132 00:10:35.399 --> 00:10:41.039 issue with the Cibient is that there's competition in the market. In say the 133 00:10:41.159 --> 00:10:46.519 year two thousand, he said year maybe nineteen ninety twenty ten, you didn't 134 00:10:46.559 --> 00:10:48.919 have this what we call P to P. So if I want to send 135 00:10:48.960 --> 00:10:54.440 money to Nigeria, I only had to with some Nigeria. Either I send 136 00:10:54.519 --> 00:10:58.440 money through my Nigerian bank, so I go to America, I Central Bank 137 00:10:58.440 --> 00:11:01.279 of America. It gets to say Uba, why gets to Western Union. 138 00:11:01.480 --> 00:11:05.080 That's the formal way I can say with Nigeria. Either I do it that 139 00:11:05.159 --> 00:11:09.200 way. Why I put my dollars in my pocket and I fly to Nigeria. 140 00:11:09.279 --> 00:11:13.879 Those are the only two ways you could send dollars for the currency to 141 00:11:13.039 --> 00:11:20.039 Nigeria right now because of P to P, because of the crypto, the 142 00:11:20.080 --> 00:11:24.519 crypto exchanges, because this digital intent that we have all across the world, 143 00:11:24.519 --> 00:11:28.399 but just in Nigeria, all across the world, it's possible for Nigeria to 144 00:11:28.519 --> 00:11:35.759 say they go to on an app in America and said dollars from Nigeria from 145 00:11:35.799 --> 00:11:39.600 the US to so on in Nigeria, and the persidentager will get it. 146 00:11:39.639 --> 00:11:43.919 Either you will get dollars or you'll get crypto which you can exchange for naira. 147 00:11:46.080 --> 00:11:48.440 So the scibim has got that competition. They can no longer com and 148 00:11:48.559 --> 00:11:52.320 say, oh we establish this price and that is good to be the price 149 00:11:52.519 --> 00:11:56.639 that the whole market has to follow. Right now, the P to P 150 00:11:56.879 --> 00:12:03.960 market is doing more than the official influence into Nigeria via the CBN via the 151 00:12:05.000 --> 00:12:09.399 bags. The last reporter I saw Q three twenty twenty three, twenty twenty 152 00:12:09.480 --> 00:12:16.200 three, about five billion is what's coming to Nigeria variantance. It's five billion, 153 00:12:16.120 --> 00:12:18.519 It's about four point eight, four point six and all that. So 154 00:12:18.600 --> 00:12:22.080 as just say five billion, that's what's coming in. The P to P 155 00:12:22.320 --> 00:12:28.039 is doing much much more than this. And cash moving is swapping. I 156 00:12:28.080 --> 00:12:31.440 have dolts in America unique there in Nigeria, we swamp so soone takes my 157 00:12:31.519 --> 00:12:35.279 dollars in America, so one pays mien in Nigeria. So there's no transfer 158 00:12:35.440 --> 00:12:39.440 happening. But that is what is really happening in Nigeria today. So we 159 00:12:39.559 --> 00:12:46.399 have twenty or thirty billion in Nigeria cash, but it's not in CBN because 160 00:12:46.399 --> 00:12:52.080 the CBA rates in the past was not market driven. That day policy and 161 00:12:52.200 --> 00:12:56.840 great us in CBM trying to change to allow Nigerians to then feel comfortable to 162 00:12:56.879 --> 00:13:03.600 say if we can trade with the institutions because the price now is Okay. 163 00:13:03.240 --> 00:13:09.440 Last week Bloomberg reported about two billion has flowed to Nigeria based on this policy 164 00:13:09.440 --> 00:13:13.919 alone, and more will flowing because now the dollar price now reflects the actual 165 00:13:15.440 --> 00:13:20.759 the actual price of the exchange rates in Nigeria, there is no more differential. 166 00:13:22.039 --> 00:13:26.639 Right, you will get different codes, but overall you can walk into 167 00:13:26.639 --> 00:13:30.080 a bank and get the same that should have gotten from the streets. So 168 00:13:30.159 --> 00:13:33.919 that's positive. What that means, of course, is that imports are going 169 00:13:33.960 --> 00:13:39.360 to be more expensive because keep in mind, Nigeria is not a very let 170 00:13:39.399 --> 00:13:43.039 me say this way, Nigerians are not very rich. In Nigeria. We 171 00:13:43.120 --> 00:13:50.440 really cannot afford imports priced in dollars, So we can't afford PMS, we 172 00:13:50.519 --> 00:13:58.639 can't even to afford power supply that is driven right from important machinery. That's 173 00:13:58.679 --> 00:14:03.559 the problem. That is not the dollar is expensive per se. It is 174 00:14:03.720 --> 00:14:11.639 that the Nigerians cannot afford imports that are priced in dollars because the economy, 175 00:14:11.120 --> 00:14:20.759 their consumption is so weak. So the issue of exchange rates dormar accounts ignore 176 00:14:20.879 --> 00:14:26.200 the elephants in the room that the Nigerian income is so weak that that dollar 177 00:14:26.279 --> 00:14:33.559 price becomes expensive simply because we can't afford it in South Korea. In Japan, 178 00:14:33.720 --> 00:14:39.440 the ex generates are monetaris numerically worse than Nigeria. What is one Cubra 179 00:14:39.440 --> 00:14:45.360 real one or one Japanese in exchange four? But they cannot afford it over 180 00:14:45.399 --> 00:14:50.600 there, we cannot. So when we grow the wealth the capital income of 181 00:14:50.720 --> 00:14:56.919 Nigerian's then it's a material if the x ueds a thousand to one. But 182 00:14:56.039 --> 00:15:00.559 what that means, guys, is there's a bottle of coke that is sold 183 00:15:00.600 --> 00:15:03.000 for a dollar in the United States. If you bring that simple love goa 184 00:15:03.080 --> 00:15:07.200 to Nigeria, it's going to be sold for fifteen hundred. It doesn't matter 185 00:15:07.279 --> 00:15:11.759 if my income is one hundred thousand, I guess not for that bottle of 186 00:15:11.799 --> 00:15:16.080 coke. But if my income is thirty thousand, how can I buy a 187 00:15:16.080 --> 00:15:20.879 bottle of coke for fifteen hundred in Nigeria? Makes no sense. So try 188 00:15:20.919 --> 00:15:24.080 to just keep an loof of you. I have my guest here, or 189 00:15:24.159 --> 00:15:26.320 get you cook before iduce my guests you've been online. Just want to give 190 00:15:26.320 --> 00:15:28.440 you a chance of putting the word in that I want to do with my 191 00:15:28.519 --> 00:15:33.720 guest and can get good on the NNPC and his views on the exchange rate 192 00:15:35.080 --> 00:15:37.960 and the muntropolity rate. Who get your cold? Please go ahead quick one. 193 00:15:41.720 --> 00:15:45.240 Oh thank you very much, Calu. I believe in everyone happy Sunday. 194 00:15:45.799 --> 00:15:50.480 I was surprised when I saw this space because I know that they at 195 00:15:50.559 --> 00:15:56.480 Cone for the all lovers in the house, the match is like less than 196 00:15:56.519 --> 00:16:03.080 three hours from now. But anyway, thank you Carlos. As usual, 197 00:16:03.759 --> 00:16:12.639 you've actually done a fantastic job simplifying this concept and explaining the prevailing situation today 198 00:16:12.879 --> 00:16:17.039 and the way he went about it. I'm not sure anyone will have too 199 00:16:17.080 --> 00:16:23.440 many questions. We're seeing your options initially. There is when when government struggles, 200 00:16:23.879 --> 00:16:26.679 they don't see what everybody knows that they are struggling. Even the man 201 00:16:26.759 --> 00:16:30.720 on the street, we know that they are struggling. We all know that 202 00:16:30.720 --> 00:16:38.000 they are struggling right now. Whether that is as a result of past actions 203 00:16:38.080 --> 00:16:44.279 or inactions. Well, we always allow politicians to interpreting their own way. 204 00:16:44.320 --> 00:16:48.720 But the good thing is that things are beginning to look up at least like 205 00:16:48.799 --> 00:16:56.279 you rightly analyze. There's more confidence now that disparity has been completely eliminated. 206 00:16:56.759 --> 00:17:03.960 So yes, so so so things are actually looking good in that regard. 207 00:17:04.400 --> 00:17:07.640 We know that there are other issues. Economy is grappling with other issues, 208 00:17:08.279 --> 00:17:12.519 but as far as the monetary policy is concerned, I think we'll beginning to 209 00:17:12.599 --> 00:17:18.440 well, just to so that that that's just really quick. Yes, So 210 00:17:18.599 --> 00:17:22.279 I want to get if you have a question on the on one side or 211 00:17:22.279 --> 00:17:26.440 the exercide. Do you have a question? No, no, no, 212 00:17:26.480 --> 00:17:29.519 I was just giving no, no, no, I don't have that question, 213 00:17:29.680 --> 00:17:33.039 Like I was just saying that so far you did a fantastic appreciate that. 214 00:17:33.640 --> 00:17:37.720 Okay, I can hear you very well, but appreciate that. Yeah, 215 00:17:37.200 --> 00:17:41.240 okay, hold, let me let me choose. Yeah, thank you 216 00:17:41.240 --> 00:17:45.240 so much. My guest is just introduce himself. I think it's here, 217 00:17:45.680 --> 00:17:49.160 might now starting meca be all right, so let me have you on mute. 218 00:17:49.400 --> 00:17:52.359 Just do a quicking through and then we can start just talk about that 219 00:17:52.640 --> 00:17:56.559 economy in some of the monetary side, the exchange side, and also this 220 00:17:56.720 --> 00:18:00.880 DN the PC loan. You know I won't not just to also understand what 221 00:18:00.960 --> 00:18:07.839 has happened there and all that. So go ahead, can you hear me? 222 00:18:07.880 --> 00:18:15.200 Go o meter if you can hear me in your meeting? Okay, 223 00:18:15.279 --> 00:18:18.960 yeah, your camera excellence, good job, welcome to the party. As 224 00:18:18.000 --> 00:18:22.920 we say, let me just have to intro and then we can go aheunderstand, 225 00:18:23.720 --> 00:18:29.920 okay, so you can just do a with introducement of yourself just as 226 00:18:29.960 --> 00:18:34.119 who you are. Okay, okay, okay, my name is are there 227 00:18:34.279 --> 00:18:41.839 in the Meca but an investment back in the executive financial Jina or you Tude 228 00:18:41.920 --> 00:18:48.759 and family the lead that investment banking group not as star Wars Capital. And 229 00:18:48.759 --> 00:18:53.519 also she got on the bottom of Darros warding. We have interested in our 230 00:18:53.599 --> 00:18:59.920 landas in the States, like I said, for that just adversis and then 231 00:19:00.119 --> 00:19:04.519 largely brand. I also sit on the bordo of Southeast Fams one of the 232 00:19:04.519 --> 00:19:12.039 biggest I grow veru Gin company in the Southeast as the chairman. I am 233 00:19:12.079 --> 00:19:18.559 one person that they live so much in transparency of governance, governance and then 234 00:19:18.519 --> 00:19:26.000 financial sector excellence and stability. I ah, the world impossible, because that's 235 00:19:26.160 --> 00:19:30.200 that's impossible if you set your mind to the wights. I am also somebody's 236 00:19:30.279 --> 00:19:33.519 ready. I'm willing to always learn now that it's something that you could not 237 00:19:33.839 --> 00:19:37.440 lending something, you'll continualit to all the days of your life. Thank you. 238 00:19:37.799 --> 00:19:41.119 So let's get right into doctor let me we'll be going back and forth. 239 00:19:41.200 --> 00:19:47.519 You and I ask regards this ann take the loan that the ends took 240 00:19:47.559 --> 00:19:52.720 from your natrial affairs, and you know you look at this, Nangia is 241 00:19:52.960 --> 00:20:00.400 borrowing keep or take about billion, and there's this issue of a collapse of 242 00:20:00.519 --> 00:20:04.799 about a score opinion. I then explainer on my own end to explain what 243 00:20:04.920 --> 00:20:08.480 it is all about that essentially it's the way I see this is my own 244 00:20:08.559 --> 00:20:15.039 or understanding is that it's more of a sales dominciliation in that idea, who's 245 00:20:15.079 --> 00:20:19.200 going to pay the total value of the sales of crude oil to Africa? 246 00:20:21.839 --> 00:20:26.519 When they do that, afflicting bank releases nineteen percent of the sales back to 247 00:20:26.680 --> 00:20:33.519 Natria and retains and pera of and I think before this decision because they want 248 00:20:33.559 --> 00:20:37.960 to be the same way if you have a higher risk custom you're actual customer 249 00:20:38.039 --> 00:20:41.759 to pay moneys to you and then you then pay off his debt to you. 250 00:20:42.400 --> 00:20:47.880 And given the pa Nijerza risk borrower, I think that's what that point. 251 00:20:48.200 --> 00:20:52.440 But what the will take on the n NPC loan is the three billion 252 00:20:52.559 --> 00:20:56.440 is substantial. You're going to get about two point two billion almost immediately go 253 00:20:56.440 --> 00:21:03.039 ahead, Sir Carlo, with all due respect forget all these stories and spence 254 00:21:04.079 --> 00:21:17.519 that those in job to defend the indefensible. An NPC n NPC does not 255 00:21:17.680 --> 00:21:22.880 lack us flow to pay three point three billion dollars. A fraxim is not 256 00:21:23.279 --> 00:21:29.880 the costadium bank to an NPC. N NPC has I think JP Morgan chase 257 00:21:30.720 --> 00:21:33.279 as is cost of their bank. You know this puppy cock the nobility ladda 258 00:21:34.119 --> 00:21:38.039 and you are borrowing. I remember present did not lend three point three billion 259 00:21:40.440 --> 00:21:45.039 dollars to CBN to an NPC. Have frasm syndicated it. What a phrasing 260 00:21:45.119 --> 00:21:51.279 did was just like a corona bringing together the syndicate lenders who contribut it will 261 00:21:51.319 --> 00:21:56.599 will be a contributed one hundred million dollars to the total loom portfolio. So 262 00:21:56.720 --> 00:22:00.559 that you just need to be ablicated on this. If there we are trying 263 00:22:00.599 --> 00:22:08.279 to convince us, oh the securing three point three billion dollars five year money 264 00:22:08.640 --> 00:22:14.759 at five percent, which is outrageous, that NMPC had the content a risk 265 00:22:14.839 --> 00:22:18.000 a high risk entity that they need there to doumbicide proceed with a phrase. 266 00:22:18.079 --> 00:22:22.799 I want to ask one sampole question. Did an MPC, Pray Approach, 267 00:22:22.880 --> 00:22:27.079 JP Morgan, Chase or any of the custodium backs. We are there normally 268 00:22:27.880 --> 00:22:32.519 large the revenues due to them. I say, hey, you're been keeping 269 00:22:32.640 --> 00:22:36.240 money for me. You know my history over the last fifteen years. I 270 00:22:36.400 --> 00:22:40.880 normally do thirty five thirty seven fifty billion with you. Can you give me 271 00:22:41.039 --> 00:22:45.240 the pretty beyond billion dollars at XYZ? Interested with it? After all? 272 00:22:45.319 --> 00:22:49.480 I keep my process with you, all the pilers paying into your account. 273 00:22:51.039 --> 00:22:55.240 When the money comes in over time, you can stagger it a baby payment 274 00:22:55.359 --> 00:22:59.839 of say one hundred million dore or ten billion dollars every month into the fifty 275 00:23:00.720 --> 00:23:04.039 with jpmorganche said no, do you know the answer? What the physical? 276 00:23:04.119 --> 00:23:08.519 Indeed, I know we like romance in distance. I give you an entical 277 00:23:08.599 --> 00:23:14.720 example to the part they know what they did? What did the cannel when 278 00:23:14.759 --> 00:23:18.359 they deal with an African entity like our friends and where edything goes? Of 279 00:23:18.519 --> 00:23:26.400 course this is Africa. I give you example the Ghanaian commodity company Coco Board. 280 00:23:26.920 --> 00:23:33.079 The Coco commodity part of Ghana also borrows from our frection. They took 281 00:23:33.279 --> 00:23:37.240 almost a billion dollars from a fraction. They also syndicated at our loan for 282 00:23:37.480 --> 00:23:45.240 ten years seven fifty billion million dollars, the all interest charge on it was 283 00:23:45.279 --> 00:23:49.519 about six points four five percent. Nigeria is bigger and better than Ghana in 284 00:23:49.680 --> 00:23:59.599 all nifications. Can you remember that's Ghana before said in their loan repayment to 285 00:23:59.720 --> 00:24:04.599 sin Get to creditors. So Ghana was in default. So for a Ghana 286 00:24:04.680 --> 00:24:08.680 that could not pay the external debt, Ganma was a high a higher risk 287 00:24:08.799 --> 00:24:15.200 country than Nigeria. Nigeria never and have never deforted in any of her liabilities 288 00:24:15.279 --> 00:24:22.400 to the external creators. Despite the fact that Ghana was carrying the stigma of 289 00:24:22.640 --> 00:24:27.400 a defaulting country. Yet Coco Board was able to structure ten year money at 290 00:24:27.559 --> 00:24:33.240 all in interestment or sixty five percent. And somebody is telling me that an 291 00:24:33.359 --> 00:24:42.200 NPC that is that is almost twenty times bigger than Ghanaian Coco Board could not 292 00:24:42.279 --> 00:24:45.759 only is the same money at five percent. I don't even know where the 293 00:24:45.920 --> 00:24:51.160 NNBC currently has currently value. It's bigger. And you put the Gadead economy 294 00:24:51.839 --> 00:24:56.440 go and say the gayettp NPC has currently value, It's over sixty billion dollars. 295 00:24:59.359 --> 00:25:03.599 N NPC as a corport entity is bigger than the whole and their economy. 296 00:25:03.759 --> 00:25:10.920 Yet the fourth thing one of these is entity coco board that is less 297 00:25:11.039 --> 00:25:15.799 than five percent of the size and the pedigree of n NBC or they're put 298 00:25:15.839 --> 00:25:18.759 to get money at less as seven percent on the as somebody told me that 299 00:25:19.400 --> 00:25:26.240 beyond even outrighteously taking money is five year money at the level point five percent. 300 00:25:26.519 --> 00:25:32.480 Some people call let their faction fee of at sixty six million, what 301 00:25:32.759 --> 00:25:37.680 we are their fastidity carlus acess bank. We go to African Bank and they 302 00:25:37.720 --> 00:25:41.839 will borrow money a percent. First bank, you be a standards. A 303 00:25:41.880 --> 00:25:45.759 third bank cannot go to it stands topic ipis cannot go to a freshen and 304 00:25:45.880 --> 00:25:51.279 they take money even at double digits. And somebody is telling me that they 305 00:25:51.359 --> 00:25:59.480 solvings like Nigeria a cash spinner like an NPC none to borrow five You know 306 00:26:00.079 --> 00:26:10.480 how you go w this is Japan said there is see let's five percent and 307 00:26:11.240 --> 00:26:15.119 they spin all amount of it that they screen to the cal appring this graceful 308 00:26:15.200 --> 00:26:19.039 in three years if they're giving me the assignment of raising that three point the 309 00:26:19.079 --> 00:26:22.319 begion calu. Let me tell you and I want you to be on record. 310 00:26:22.720 --> 00:26:29.759 In two I got twenty year money for Bank of Industry at all the 311 00:26:29.880 --> 00:26:33.960 four percent, but they did not take that money from the JAPANIIC entity. 312 00:26:33.200 --> 00:26:37.359 So if I hadn't deputy, of course car the market to get a coody, 313 00:26:37.480 --> 00:26:41.920 how much more those who understand we are this this can because they don't 314 00:26:41.960 --> 00:26:45.400 worded good luck to them like you also pay for it, they'll problem about 315 00:26:45.400 --> 00:26:48.240 it. Okay, thanks thanks for that. Let just if I mean, 316 00:26:48.319 --> 00:26:51.119 let me take the person of the NPC side. Let me just take that 317 00:26:51.240 --> 00:26:55.920 peration, find me the enert. We know that the Niger has indeed borrowed 318 00:26:55.920 --> 00:26:59.440 from JP Morgan the report that came out. Of course your work has to 319 00:26:59.640 --> 00:27:04.000 the Niger had indeed borrowed cast from Japie Morgan and used to as cover. 320 00:27:04.440 --> 00:27:10.240 So that route has been right taking and has been banked as they say right. 321 00:27:11.119 --> 00:27:18.640 Also, Ghana is exporting coco. The export of coco are more organized, 322 00:27:18.960 --> 00:27:25.519 more errands, more should we say, best practiced than the Nigerian practice 323 00:27:25.559 --> 00:27:30.119 of exporting crude oil. I doubt when Nigeria knows the total to the gallon 324 00:27:30.519 --> 00:27:34.720 of how much crudel has been taken or stolen. So if I was if 325 00:27:34.759 --> 00:27:37.559 I was a banker, and you're a banker, doctor Berry, and you 326 00:27:37.680 --> 00:27:41.960 say you want to lend two guys. One guy has defaulted, one guy 327 00:27:41.039 --> 00:27:45.519 has not defaulted. But the other guy is doing his business. I have 328 00:27:45.640 --> 00:27:48.799 his books. He tells me, go to export the exports. The guy 329 00:27:48.880 --> 00:27:56.440 cannot even guarantee the safety of pipelines in his own nation. I would of 330 00:27:56.519 --> 00:28:00.519 course keep the gether. That cannot guarantee export a higher costs to borrow is 331 00:28:00.599 --> 00:28:07.720 not a valid argument, Carlo. There's no valid agreement here. That is 332 00:28:07.759 --> 00:28:11.960 no let me even tell you even found failer found for island that's not by 333 00:28:11.079 --> 00:28:18.079 owned by the financial can still borrow that three point three billion dollars at less 334 00:28:18.079 --> 00:28:21.759 than ten percent. There's no story, there's no long story about it. 335 00:28:22.079 --> 00:28:26.000 Nageras the really is, cannot do it to an extent that we paid the 336 00:28:26.079 --> 00:28:30.799 level points eight five percent plus two, not just the level point everything. 337 00:28:32.039 --> 00:28:36.599 Let me say the truth, and the truth is no, there are many 338 00:28:36.839 --> 00:28:40.920 entities out there, Carlo, outside there there are over ten million dollars and 339 00:28:41.039 --> 00:28:45.759 no from them that are not even within the from our fire USand that we 340 00:28:45.960 --> 00:28:51.480 gladly lend that money to NNPC. I was talking to one of my my 341 00:28:52.039 --> 00:28:56.599 my formarcolleagues who now works with GM good Mass Sachs. The guy has a 342 00:28:56.720 --> 00:28:59.720 put folio of sixty billion dollars. It can meet that just left your by 343 00:28:59.799 --> 00:29:03.680 guy Y plus sixty billion dollars. And they said most of the left towards 344 00:29:03.680 --> 00:29:07.839 South Africa and South America. The guy said where they lost his head off. 345 00:29:08.480 --> 00:29:14.160 The guy said, if they had approaching and they knew him, that 346 00:29:14.319 --> 00:29:18.039 you will guard them that money to put you up about eighty percent, and 347 00:29:18.160 --> 00:29:22.279 that we are and where he's working, they will carry him up and hear 348 00:29:22.400 --> 00:29:27.480 him, I the great't what the chap so that they're not said that nobody 349 00:29:27.519 --> 00:29:30.880 wish you know, you go where in the country with the plan. Everybody 350 00:29:30.920 --> 00:29:38.799 is got caught. Okay, Oh then let's talk there. Okay, talk 351 00:29:38.880 --> 00:29:44.519 and if you can then give you some time. I think I lost to 352 00:29:44.519 --> 00:29:48.920 you, doc. All right, So if you listen to doctor Barry, 353 00:29:48.960 --> 00:29:53.559 he's basically making the arguing that the loan was expensive, that they could have 354 00:29:53.720 --> 00:29:59.759 borrowed the moneys from other sources cheaper than we had no business borrowing at the 355 00:30:00.200 --> 00:30:03.839 that we are borrowed in the interest rates that we're borrowing. You know, 356 00:30:03.960 --> 00:30:10.480 I put back on the JP organ more than the ap y on. This 357 00:30:10.720 --> 00:30:12.880 is about eleven point eighty five. This is my not a feast, eleven 358 00:30:12.920 --> 00:30:15.640 point eighty five. So like you're saying, it's a bit expensive. Okay, 359 00:30:15.680 --> 00:30:18.079 Doc, I think I'm getting your piece on this. Let me go 360 00:30:18.240 --> 00:30:22.160 over real quick to the exchange rate side, on to the Montrepolsis side. 361 00:30:22.559 --> 00:30:26.599 I think most pas the exchange rate side. What's your take on the circulars 362 00:30:26.720 --> 00:30:30.480 flying around? You can take money, you can't take money rating? What 363 00:30:30.680 --> 00:30:37.359 is your overall take on the exchangerate policy currently in Nigeria? Do you see 364 00:30:37.200 --> 00:30:41.599 lights at the end of the tunnel they or do you think we're still mired 365 00:30:41.720 --> 00:30:45.599 in the mud of you know, your country at r B. What do 366 00:30:45.640 --> 00:31:03.680 you think I've impressed those were of banking And I always say anybody who cares 367 00:31:03.720 --> 00:31:07.319 to who then you just start again. We lost you the very thing and 368 00:31:07.359 --> 00:31:11.720 said you said you were you were. That's okay, okay, I said, 369 00:31:11.759 --> 00:31:18.240 I'm very with some of the depths steps. Yeah, Cardoso has taken 370 00:31:18.200 --> 00:31:23.240 and you know not maybe will agree. So people who wanted to be their 371 00:31:23.279 --> 00:31:26.279 own way. Of course he has their back to the authodoors were of banking. 372 00:31:26.359 --> 00:31:32.240 I always say to anybody who cares to listen, no matter the esotemics 373 00:31:32.359 --> 00:31:37.279 no, and then goes anybody may want to import it's for example, in 374 00:31:37.440 --> 00:31:41.000 lending his defiancies. It can if not the viances is not the five seas 375 00:31:41.039 --> 00:31:45.039 you can struct or whatever you want to structure. The five seies the main 376 00:31:45.119 --> 00:31:49.160 the foundation of banking when it comes to credit cardos has gone the authodoors where 377 00:31:49.160 --> 00:31:52.720 and that is the right way to go. Remember the job of the rule 378 00:31:52.799 --> 00:31:59.319 of the CPN is clearly defined monetary financial said personability. Lend that to governments, 379 00:32:00.359 --> 00:32:07.119 the you know banker to bankers what basically are Charles Ludo did when he 380 00:32:07.319 --> 00:32:14.160 was there usus libidos and us did in a situation like this, he has 381 00:32:14.279 --> 00:32:19.920 raised the interest rates and the strategy bios to such a high level that will 382 00:32:20.000 --> 00:32:22.279 attract for him puts follow investors. This is a temporary better that you are 383 00:32:22.359 --> 00:32:28.079 telling totabalize it talk. I think it's now fifteen percent. That was almost 384 00:32:28.079 --> 00:32:31.640 a double job from about seven to fifteen percent, meaning that in Nigeria the 385 00:32:31.920 --> 00:32:36.920 risk free rates is about fifteen So if you take your money, you don't 386 00:32:37.000 --> 00:32:43.960 do anything. My plent governor would pay you in percent around the fifteen percent 387 00:32:44.200 --> 00:32:47.920 is for one into their money the places today do you bid this nineteen percent 388 00:32:49.000 --> 00:32:52.519 that was that was deplosive amazing and you said nineteen percent, yeah, that 389 00:32:52.640 --> 00:32:57.000 was the closive died over one point eight million was marked out of the economy 390 00:32:57.680 --> 00:33:01.559 and uh and and if you look at the year, because it's past three, 391 00:33:02.000 --> 00:33:08.319 the actual is that bats for those who are doing so scared taking flights 392 00:33:08.359 --> 00:33:12.920 to Palla and the all the other they are se an HISTORYMN that can give 393 00:33:12.960 --> 00:33:16.119 them at least bring the relative view that is closed to inflection because c is 394 00:33:16.119 --> 00:33:20.480 also backling to see if they can bring inflection down to putt to one percent 395 00:33:20.599 --> 00:33:23.720 before they end up this year and they get that that's a downside to this. 396 00:33:24.680 --> 00:33:30.960 Yes we may achieve some short tomic the legs yet, but the other 397 00:33:30.400 --> 00:33:35.599 the other flip side of it that we're going to have cost of fun or 398 00:33:37.599 --> 00:33:43.440 because the risk three sixty day money and it's ninety percent any other they didn't 399 00:33:43.440 --> 00:33:46.319 need to have to build up and that's to prive their own risk. Now 400 00:33:46.480 --> 00:33:51.759 they also that way the CBO also can tell this is to reduce they learn 401 00:33:51.839 --> 00:33:55.200 deposit to ratore with the money deposit money back today's about sixty five percent, 402 00:33:55.680 --> 00:33:59.920 they can finally use it to a bast twenty five percent. What's simply means 403 00:34:00.680 --> 00:34:04.319 beyond the treasure will be more pop They can also limit the participation of the 404 00:34:04.400 --> 00:34:10.239 banks and decide they can take then they will putting a seven to seven level. 405 00:34:10.599 --> 00:34:14.559 The banks who also have necessly coutin that they may want to lend out 406 00:34:14.679 --> 00:34:19.960 to risk as a great risk access, which will also forced them to also 407 00:34:20.119 --> 00:34:23.280 be very considerate in their price. But like I said, these steps he 408 00:34:23.320 --> 00:34:28.519 are taking is a very short termic one which is very very good. Are 409 00:34:28.559 --> 00:34:32.920 they gain by removing the I m C restricted window of zero point minus two 410 00:34:32.960 --> 00:34:37.880 point five employee is simply for those who did not understand what he did because 411 00:34:37.320 --> 00:34:43.880 the press did not report it well. You see the end place for the 412 00:34:44.480 --> 00:34:50.400 I MT the money Gram, the other ones and all the Western Union. 413 00:34:51.000 --> 00:34:54.599 You see the place a limits if you're if you're transferring dollar the exchange viel 414 00:34:54.639 --> 00:35:00.159 to be on a band of minors two point five percent or super present at 415 00:35:00.239 --> 00:35:05.320 the prey at the they on the are prising last day prize and before the 416 00:35:05.400 --> 00:35:09.039 preventing the that you are now trading and that your officiality and this then a 417 00:35:09.119 --> 00:35:15.360 lots called a lot of get their money is into thee D Because at the 418 00:35:15.519 --> 00:35:20.280 market when we had a very future bid a bit trade gap, official market 419 00:35:20.559 --> 00:35:24.360 was trading at several fifty parer market was doin one one hundred. There's no 420 00:35:24.440 --> 00:35:28.840 way I would bring my money and I will I will you apprise me plus 421 00:35:28.880 --> 00:35:31.880 two point five percent of officiality when I can get it. I prey a 422 00:35:31.920 --> 00:35:36.559 hundred and armor from the black market. So what is CB and has print 423 00:35:36.599 --> 00:35:39.320 done is bring your dollar, the will share with any point that you want 424 00:35:39.360 --> 00:35:45.559 to set to whatever did you pull agree say CBR will on this brand of 425 00:35:45.800 --> 00:35:52.440 what app was closed last previous trading day, and they've also moved for that 426 00:35:52.199 --> 00:35:58.400 before. The esportters, those who export goods and bring in their process, 427 00:35:58.480 --> 00:36:01.159 we are forced to sell at the officiality. So what most of them started 428 00:36:01.159 --> 00:36:05.159 to be is cut into in verses, which is a bit criminal. But 429 00:36:05.400 --> 00:36:07.840 now with what Cyby and outdone, you don't need to be a free You 430 00:36:07.880 --> 00:36:09.760 don't need to sell your goods and did the money to can okay Man Island 431 00:36:09.800 --> 00:36:14.960 or anywhere you can easily freely bring in your narr sell it at whatever you 432 00:36:15.039 --> 00:36:16.880 want to say, go back into the cut gam by either your same or 433 00:36:16.920 --> 00:36:21.360 your go go. In fact, with what they've done, I've I've had 434 00:36:21.719 --> 00:36:25.000 some of these steps taken by some of these coco traders and those in me 435 00:36:25.079 --> 00:36:29.760 some of them are even thinking about going into backward integration. There was even 436 00:36:29.800 --> 00:36:32.079 one of them that I pushed me and want set up a micro finance bank 437 00:36:32.360 --> 00:36:37.440 enabling you know, aggregate credits to the farmers and enable them to develop more. 438 00:36:39.000 --> 00:36:43.360 But I can buy more and esports said, here collect narr and they 439 00:36:43.400 --> 00:36:49.320 expand their firm. So basically what the CIBN had done in a transparently row 440 00:36:49.400 --> 00:36:53.920 market. With that on godly interventions of the CBN or any other literally agency, 441 00:36:54.280 --> 00:36:59.360 if we encourage the exporters to go back into the farm, go back 442 00:36:59.480 --> 00:37:02.079 back what integration to increase the volume of their trade. In fact, one 443 00:37:02.119 --> 00:37:06.719 of that one of the of the coco exporters is the guy that does almost 444 00:37:06.760 --> 00:37:08.360 have I want you to ben the annually. The fact he told me that 445 00:37:08.400 --> 00:37:12.239 he start get this drug I want treat over the next five fish. That 446 00:37:12.440 --> 00:37:15.639 is the effects of this policy. It may not actually produce the odd the 447 00:37:15.719 --> 00:37:20.360 overall best results this type, but is it something that I've even people have 448 00:37:20.480 --> 00:37:23.119 looked at and into this sature. But the master, we most consider you 449 00:37:23.400 --> 00:37:27.880 have done this. What of the physical side, if you go to Gabas, 450 00:37:27.960 --> 00:37:31.320 if you go to now yes you can catch up right, Just let 451 00:37:31.360 --> 00:37:37.760 me just see. So what essentially what Niger has done the right the market. 452 00:37:37.159 --> 00:37:43.119 They've increased the interest rates, which means that foreigners can come to nastier 453 00:37:43.280 --> 00:37:45.239 and they can get it rid. I will not beat in plature, but 454 00:37:45.360 --> 00:37:53.440 has reduced the gaps substantially, the ball behind real value. That's the positive 455 00:37:53.519 --> 00:38:00.360 for Nigel exporters, also a positive for the foreign portfolio investors. Essentially saw 456 00:38:00.400 --> 00:38:05.000 many of what it says. And I want to go in and just remember 457 00:38:05.199 --> 00:38:13.559 talk lots of food finance books, so just try to Okay, let me 458 00:38:13.639 --> 00:38:19.440 tell you again what the master's stroke or did now beyond what you may have 459 00:38:19.559 --> 00:38:25.760 done, was by increasing the rates to nineteen percent fifteen percent for the money. 460 00:38:27.559 --> 00:38:32.360 And then do this works disipiod a portfolio investor, that's what they're doing. 461 00:38:34.119 --> 00:38:37.800 A portfolio invest that is based in the h one that is based in 462 00:38:37.920 --> 00:38:42.920 Japan, where my thro policy rate is about min lost five percent mins you 463 00:38:43.039 --> 00:38:50.199 point five percent can't decide to aggreegate funds in Japan from investors, and then 464 00:38:50.280 --> 00:38:53.039 they may aggregate those funds for the short out fund for six months for one 465 00:38:53.119 --> 00:38:58.400 year and tell his investors, give me two billion dollars, I am going 466 00:38:58.440 --> 00:39:02.639 to invest it in joy re basion that you and now as are bringing the 467 00:39:02.760 --> 00:39:07.199 money that win a swap with the center back of nature. This swap gun 468 00:39:07.400 --> 00:39:09.960 is less simple that the back of Yes, I am bringing two billion the 469 00:39:10.039 --> 00:39:14.559 nas go back to invest in your treasure or to play your capital market. 470 00:39:15.360 --> 00:39:17.760 But we're going to pay a premium for you to swap it for us. 471 00:39:19.440 --> 00:39:22.639 We are going to be taking today. Your rates is one for five six 472 00:39:22.960 --> 00:39:28.800 or one five zero zero. Do you agree to do this work with us 473 00:39:29.480 --> 00:39:30.960 in the next one year. We're going to play only for one year. 474 00:39:34.199 --> 00:39:37.239 We don't want to buy dollar at anything more than one times a five pounder 475 00:39:37.280 --> 00:39:40.199 or one time a five founder and send the CBR will say okay, yes, 476 00:39:40.280 --> 00:39:43.960 we're doing this work with you. We are charging you this X y 477 00:39:44.119 --> 00:39:46.719 z interest. They may even be one percent or two percent. The investor 478 00:39:47.119 --> 00:39:51.639 the put format already prized this. He has to borrow this money at less 479 00:39:51.639 --> 00:39:54.039 than one or two percent, even if he at or two other percent at 480 00:39:54.079 --> 00:39:58.480 the cost of the swamp. That's one percent. The man is taking money 481 00:39:58.519 --> 00:40:01.599 out's investing some that can looks that we take a set there is no place 482 00:40:01.679 --> 00:40:07.679 in the West where you can in transurbuse and you will get that kind of 483 00:40:07.760 --> 00:40:12.599 return. Go and check those the matured markets. So what Ye Mikadoso has 484 00:40:12.599 --> 00:40:16.960 simply done is to allow massive inflow of fpis remember that there is so much 485 00:40:17.000 --> 00:40:21.639 or certainty with the level of new flow that will come in. Of course, 486 00:40:21.679 --> 00:40:23.519 it's a risky venture that he's taking. It's a risky step. He 487 00:40:23.639 --> 00:40:28.320 is also banking on the fact that within that next to one year when those 488 00:40:28.320 --> 00:40:32.400 people want to exists on our grisk work pred that those on the physical side 489 00:40:32.400 --> 00:40:38.400 will have done their job to shore up the splas criminality of our code or 490 00:40:38.559 --> 00:40:43.639 resources that areas to do by ramping up output and doing other things that we 491 00:40:43.800 --> 00:40:46.719 never lost to get more esport revenues. And now back to what I was 492 00:40:46.760 --> 00:40:51.920 discussing. If you go to Canada today, we have over eh old US 493 00:40:51.920 --> 00:40:57.880 sixty five thousand agias officiey documented. There are other tens of thousands who are 494 00:40:58.280 --> 00:41:02.000 migrants that we are not so many documented. If you go to any shop 495 00:41:02.119 --> 00:41:07.119 in Canada today from Montreal to Ontario to Calgary are better. Most of the 496 00:41:07.239 --> 00:41:13.599 yams that are sowed in most of the shop supermarkets and retail shops. You 497 00:41:13.639 --> 00:41:17.840 will see them happening the mark of med in Ghana and produce of Better Republic. 498 00:41:19.119 --> 00:41:22.239 And interestingly I heard from the grave fight that most of these yams I 499 00:41:22.400 --> 00:41:25.760 heard that ship from the Southwest and the middle of Earth, they take them, 500 00:41:27.599 --> 00:41:31.599 they take them. That I have a young fam yes that the ninety 501 00:41:31.920 --> 00:41:39.519 Yeah, because they do it they do at an expert from there. Yeah, 502 00:41:42.119 --> 00:41:47.079 yes, yes. The sport desk in Ghanda has taminas where you can 503 00:41:47.559 --> 00:41:53.000 bring it to basics hour so you will have the case of this incident were 504 00:41:53.360 --> 00:41:57.159 remember a ship, I say, we wanted to sport the content off the 505 00:41:58.559 --> 00:42:04.679 said content after we today because of Porto necks of the agency. Is there 506 00:42:05.159 --> 00:42:09.079 so other than eight million dollars worth of yam I wanted into Canada every year 507 00:42:09.159 --> 00:42:14.320 and most of them from Canada and from from Better Republic and Ghanda. And 508 00:42:14.480 --> 00:42:19.079 interesting that most of those gams are from Nacreia. The truth is the physical 509 00:42:19.159 --> 00:42:22.639 matters has a lot of days to do. If they can set up a 510 00:42:22.719 --> 00:42:31.000 sport paminas that are very efficient on that REPP framework. Make it a single 511 00:42:31.199 --> 00:42:36.039 all the agencies come under one single window. We don't need to have customs 512 00:42:36.119 --> 00:42:42.119 checking, immigration checking and not checking under one window. And then make it 513 00:42:42.199 --> 00:42:47.280 silly with that any furniture book gools that enters that pamina as important airport is 514 00:42:47.400 --> 00:42:52.000 if I quated with insiders, just like we have your Mombasa like we're having 515 00:42:52.079 --> 00:42:55.280 Ghanda, and if there is any goods that is delayed from mothers wars everybody, 516 00:42:55.599 --> 00:43:00.559 there will be sides where you set the example, everybody will sit top. 517 00:43:01.360 --> 00:43:08.000 Why somebody in mombassacarea that is several five thousand kilometers away from any of 518 00:43:08.039 --> 00:43:13.960 the European cities can bring his flower and export it and it will get prove 519 00:43:14.159 --> 00:43:19.000 fresh, will bring it is vegetable sport. It is to mento, it 520 00:43:19.119 --> 00:43:22.480 will get to grove fresh. And then somebody from a wedding that is Lego 521 00:43:22.559 --> 00:43:28.199 sisters and kilometers from the group cannot do the same. Somebody from Carnu cannot 522 00:43:28.199 --> 00:43:32.239 do the same. Somebody from Legos said, is the ant the physical side. 523 00:43:32.719 --> 00:43:38.039 So the role of the physical but they just now to support you is 524 00:43:38.079 --> 00:43:45.119 to put in place the framework the enablace proctors to encourage nageras not just to 525 00:43:45.280 --> 00:43:52.519 produce what will consume here, to encourage nagas to put into sport of any 526 00:43:52.960 --> 00:43:59.280 exportable. The enablers have massive foreign inflow into Nigeria. Dog, let me 527 00:43:59.360 --> 00:44:04.440 ask you direct question. You've just said that the moves by Kados are positive. 528 00:44:04.599 --> 00:44:07.880 You've said that there's gonna be a lot of swap influence, and we 529 00:44:07.119 --> 00:44:13.079 know that if swap influence coming to Nigeria, that strengthens denial. Do you 530 00:44:13.239 --> 00:44:19.000 see eras brightening from this current one four, one five to somewhere one to 531 00:44:19.239 --> 00:44:23.679 one thousand. Do you see that I have beet one record on that kind 532 00:44:23.719 --> 00:44:34.320 of Let me tell you, Dog, we lost you at the most critical 533 00:44:34.400 --> 00:44:45.320 point in the interview. Donk if you can hear me, we can't hear 534 00:44:45.519 --> 00:44:50.000 your response. So I'm asked Doc, because he has spoken about the moves 535 00:44:50.039 --> 00:44:54.320 made by Kados, it's totally correctly, totally correct, the foreign populand what 536 00:44:54.599 --> 00:44:59.039 the policies are put in place that you're like, you know, when those 537 00:44:59.079 --> 00:45:01.760 players are in the doctors washing it with the twelve ways, twenty ways, 538 00:45:01.840 --> 00:45:08.519 twenty ways are able to throw a wish to stop the going down the slope. 539 00:45:09.440 --> 00:45:14.320 So it's left for the physical manager just to come fix the break of 540 00:45:14.400 --> 00:45:19.760 that truck. And they needed to show that it does not continue to roll 541 00:45:19.960 --> 00:45:23.679 when that shock is removed, when that wage removed. Because the truth is, 542 00:45:24.159 --> 00:45:27.519 you know what is watching, they know what you may it's doing. 543 00:45:28.000 --> 00:45:36.320 They understand how it's anecto as we may have to borrow fist opening get the 544 00:45:36.440 --> 00:45:43.519 money to become an investing resector where I have to begin to grapple with all 545 00:45:43.599 --> 00:45:45.719 the issues that we have here. All they need to do is just bet 546 00:45:45.880 --> 00:45:51.119 with their money on visk flee securities. If any copy that are do incorporate 547 00:45:51.199 --> 00:45:53.880 board like the top, any step backs. They can even invest in their 548 00:45:53.920 --> 00:45:58.159 corporate ball if I done good, what is doing the cover, But they 549 00:45:58.199 --> 00:46:00.840 can invest in those combatiers feel that they have to protect them when they want 550 00:46:00.920 --> 00:46:06.400 to exit. Those investors are not coming in to say to beauty factories to 551 00:46:06.800 --> 00:46:09.719 set shots anywhere here. It's hard about that is what that bets on. 552 00:46:09.880 --> 00:46:14.400 The shot that they know is very risky. They are pison. That's all 553 00:46:14.440 --> 00:46:19.000 the tots of those in a budget that they will do this and they will 554 00:46:19.000 --> 00:46:22.840 do that will be executed. That is what we're also we have a short 555 00:46:22.920 --> 00:46:28.599 term approach to this. I'm given examples. Yeah, now has two two 556 00:46:28.679 --> 00:46:34.559 point million barons of don't that that's looking at two eighty billion dollars coming to 557 00:46:34.639 --> 00:46:43.119 the economy. I will totell them over the last it has always if had 558 00:46:43.159 --> 00:46:46.840 the high important bill work but as it is work at a nine nine Yes, 559 00:46:46.920 --> 00:46:52.800 well donus I think that was also a depico when the good world wins 560 00:46:52.960 --> 00:46:58.119 and all that they were doing now over the last is our important build over 561 00:46:58.199 --> 00:47:05.039 between forty five fifty two three belond dollar we see plimits official transaction that the 562 00:47:05.159 --> 00:47:10.840 legitimates has never got anything more begind different including medical tourism and just using from 563 00:47:10.880 --> 00:47:15.199 A and all and stuff. Plam is if we can ramp up and cooked 564 00:47:15.880 --> 00:47:21.000 tool that I level log your prevent about ourselves two billion dollars. Where are 565 00:47:21.000 --> 00:47:23.559 you looking bit home and dry while we're also looking at all that's what and 566 00:47:23.679 --> 00:47:28.440 there's something also the NMPC can do given different if they are very very since 567 00:47:28.480 --> 00:47:36.199 here it's about okay, that's too energy companies. I think it's all man 568 00:47:37.079 --> 00:47:43.320 there on their on their energy cooperation Public Corporation JINA can't do the same side 569 00:47:44.199 --> 00:47:51.960 we have under the little round that did not fly through because a good times 570 00:47:52.280 --> 00:47:59.119 and then paired on and would not pay a lot of this last I've been 571 00:47:59.360 --> 00:48:02.519 acting too the for any person. Now there's going to be the new be 572 00:48:02.639 --> 00:48:07.920 troup waiting forward to be very sincellled with themselves, they a regiment. Even 573 00:48:10.960 --> 00:48:24.239 jackass takes get like that. Anybody. The dog shot the lives of the 574 00:48:24.320 --> 00:48:30.320 lives of several life. They don't see a flu with five thousand. That's 575 00:48:31.559 --> 00:48:37.960 when they said, so those imagine our fields can be taken by look up, 576 00:48:38.679 --> 00:48:44.360 you know, and let me do, old dog. Let me any 577 00:48:44.400 --> 00:48:52.280 hear me do dog. I had to meet you just to to tell your 578 00:48:52.320 --> 00:48:55.840 audio was breaking up a bit. You can hear me your audio is breaking 579 00:48:57.000 --> 00:49:00.840 business. How I want to meet you just so you could check the audio 580 00:49:00.880 --> 00:49:02.320 and just come back. But if I just want to summarize what I heard 581 00:49:02.320 --> 00:49:06.280 you say, you said basically, I use a good analogy there. If 582 00:49:06.519 --> 00:49:08.079 manbefolk, they don't know when you say, there's those trucks in Nigeria, 583 00:49:08.159 --> 00:49:13.840 those long trucks. The conductor is putting bricks, manual logs of wood, 584 00:49:14.199 --> 00:49:19.159 and then the tires so that the truck doesn't move. This is the brakes 585 00:49:20.000 --> 00:49:22.559 on the trucks have failed. That's what the example that mister Barry was saying. 586 00:49:22.960 --> 00:49:29.440 Essentially, he's saying the CBN can only do so much. The CBN 587 00:49:29.559 --> 00:49:35.000 does not go into physical and the executive side of running the government. The 588 00:49:35.159 --> 00:49:39.159 CBN can do exchange rates, they can do monetary policy with the banks, 589 00:49:39.320 --> 00:49:45.960 they can do inflation. That's it. It is for Nigeria the executive to 590 00:49:46.159 --> 00:49:52.320 start to export. Remember the execs we've at very very beginning. Exports is 591 00:49:52.440 --> 00:49:55.079 what feeds up the foreign reserves. Is a foreign reserve at the center back 592 00:49:55.119 --> 00:50:05.559 of that are using a gou to. You essentially go after the exchange rate 593 00:50:05.639 --> 00:50:10.559 policy. You use your exchange reserves to address the exchange rate policy. That's 594 00:50:10.679 --> 00:50:15.719 essentially what is to happen. Montoto is saying that we need to focus on 595 00:50:15.840 --> 00:50:22.320 the executive to create export endings, to build out the infrastructure such that Nagurin 596 00:50:22.480 --> 00:50:29.400 Export can go out and magiymusices can come in seamlessly to give the CB and 597 00:50:29.480 --> 00:50:34.039 the ammunition to defend the NYROR because everything we are seeing today is going to 598 00:50:34.079 --> 00:50:39.039 be for a short term if the executive side do not get the economy set 599 00:50:39.159 --> 00:50:46.039 up correctly to then generate productivity and growth. Then it will get worse in 600 00:50:46.159 --> 00:50:52.440 a year because now we would have more loans and no way to pay back 601 00:50:52.519 --> 00:50:54.519 those dollar loans that have come in. That's what I understands, sub total, 602 00:50:54.599 --> 00:50:58.440 very same dot. If you fix the audio, let's just have a 603 00:50:58.719 --> 00:51:13.639 how backing certain if you can, mister Barry okay, Henny, Yeah, 604 00:51:13.639 --> 00:51:15.679 I think it's some interest just to think that, or you'll come back in. 605 00:51:16.599 --> 00:51:21.519 So I'll give him that chance. Doctor just he wants to pick your 606 00:51:21.559 --> 00:51:24.519 audios requests just so mutants speak. But if you guys have been on the 607 00:51:24.559 --> 00:51:28.360 space and then just ask them to add a few questions. I've got Austin, 608 00:51:29.239 --> 00:51:32.159 Austin members, do you have a question of comments while doctors because audio, 609 00:51:32.400 --> 00:51:43.519 please go ahead, Austin. Okay, let's get professor Incredible like that 610 00:51:43.719 --> 00:51:46.960 name, professor Incredible. Did you have a comments? Yeah? Thank you, 611 00:51:47.119 --> 00:51:52.559 come along. Good evening, Nigeria's and I wish Nandreia weighs today. 612 00:51:53.880 --> 00:51:58.280 Yeah. So I I just want to you know, earlier when you started, 613 00:51:58.760 --> 00:52:02.239 you made some rally answers and you see a lot of what doctor, 614 00:52:02.320 --> 00:52:07.679 and then miss I want to this time the maker doctor and a lot of 615 00:52:07.719 --> 00:52:14.199 what is coming here go ahead. A lot of what is said I aligned 616 00:52:14.280 --> 00:52:16.440 with. There are still some one or two clarity. I want to work 617 00:52:16.480 --> 00:52:21.039 and I need it anyway. But let me just first talk to what you 618 00:52:21.079 --> 00:52:24.440 said earlier. You know you mentioned the policy of the fur of the cyby 619 00:52:24.559 --> 00:52:30.920 and at which I also feel there are good policies to actually fix the supply 620 00:52:30.320 --> 00:52:35.639 and and to block loopos. But now if the banks don't step up their 621 00:52:35.719 --> 00:52:39.960 games. See, it's too convenient for me to do this money exchange with 622 00:52:40.320 --> 00:52:45.920 any of these apps. And I have my money. I don't have to 623 00:52:45.960 --> 00:52:50.599 walk into a new bank. Everybody's fine. But if I have to the 624 00:52:50.719 --> 00:52:58.159 bank, their hands need to actually fit money transfer with probably bankups. This 625 00:52:58.320 --> 00:53:05.920 is by que the customer service side of it or the rate Wait your real 626 00:53:06.760 --> 00:53:09.719 so the rates the customer service is my is my point. The rate is 627 00:53:09.840 --> 00:53:14.519 right, they've been to fix the rate. So if I check around and 628 00:53:14.679 --> 00:53:16.880 okay, g it is good for me. I use t B. But 629 00:53:17.320 --> 00:53:22.519 if I have to walk into banks to do this, then to what's effect? 630 00:53:22.960 --> 00:53:24.880 That's my I just wanted to throw my lights on that. That's my 631 00:53:25.639 --> 00:53:31.920 an ATM for dollars or transfer dollars to your phone. With that help transfer 632 00:53:32.119 --> 00:53:37.320 to make I mean transfer will definitely do it long and it's see what we 633 00:53:37.440 --> 00:53:42.960 transpartra. You can transperd dollars that work for you. You can buy sending 634 00:53:43.320 --> 00:53:47.639 the cent dollars to your account that exactly move my dollar, I mean move 635 00:53:47.679 --> 00:53:52.440 my dollar from dollars to nira or something like that. I'm very sure that 636 00:53:52.599 --> 00:53:53.840 you have banks can do that. I haven't done it when I you am 637 00:53:53.960 --> 00:53:58.079 back, but I know on my alf for my bank there's a place where 638 00:53:58.159 --> 00:54:00.119 the stage you can buy dollars. I haven't I did personally, I don't 639 00:54:00.199 --> 00:54:06.559 use that future, but I see tom manager and bank app die all that, 640 00:54:06.960 --> 00:54:08.840 so it's one those but I do have seen it. Amanagin bank. 641 00:54:09.360 --> 00:54:15.519 So doctor doctor bang you get ik oh iik thanks profile Yeah. Secondly there 642 00:54:15.559 --> 00:54:22.079 were two yeah, so you you know. You also mentioned Nangia being able 643 00:54:22.159 --> 00:54:25.519 to purchase, which I also feel is a big problem everyone in the industry. 644 00:54:27.000 --> 00:54:30.800 So you see a country like Nigeria doing so many volumes. I mean 645 00:54:30.800 --> 00:54:35.800 I'm talking about a company now, a manufacturing company less. I don't want 646 00:54:35.800 --> 00:54:38.360 to call any of them, but you're see Nangia you're doing five hundred thousand 647 00:54:39.840 --> 00:54:45.079 patterns and a country that does less. But you know when they talk about 648 00:54:45.119 --> 00:54:51.119 profits and revenue in those countries, it's just it works. Nigeria's number and 649 00:54:51.320 --> 00:54:53.880 you know, the Nichols feel like, oh, you're not working enough. 650 00:54:53.960 --> 00:54:58.280 Yeah, your volumes are high, but we're not making that much. So 651 00:54:58.480 --> 00:55:02.519 even Nigeria can also increase many more weight, which I have thought is a 652 00:55:02.679 --> 00:55:07.519 very very good thing. Yes, inflational way matchup, but in the long 653 00:55:07.599 --> 00:55:12.360 run, Nigeria is a country where and more because definitely they are paying in 654 00:55:13.280 --> 00:55:16.480 that would be a percentage of whatever is had. So nigea is a country 655 00:55:17.239 --> 00:55:21.320 and more so, while this looks like a good thing, what is the 656 00:55:21.440 --> 00:55:25.000 downside to this not being happening? This is just productivity. We just actually 657 00:55:25.360 --> 00:55:30.760 we just can't afford a minimum wage today at any increase minimum with because you 658 00:55:30.159 --> 00:55:35.360 minimum wage is what it's a it's a cost. Where how do you find 659 00:55:35.400 --> 00:55:38.239 that cost from endings? Right now? In Nigeria? Let me give you 660 00:55:38.239 --> 00:55:44.599 an example. Right now, in Nigeria, one hundred percent of the money 661 00:55:44.639 --> 00:55:49.880 you make from crude oil, one hundred percent goes to pay I would just 662 00:55:49.920 --> 00:55:54.400 say call it salaries of just civil services, just salaries. I'm not a 663 00:55:54.559 --> 00:55:59.880 about death service. It also goes to pay death service, but just salaries 664 00:56:00.039 --> 00:56:05.280 alone. So one hundred percent of the money you make from NNPC and n 665 00:56:05.280 --> 00:56:08.559 elergally the gas goes to pay salaries in loone. This is just you can 666 00:56:08.599 --> 00:56:14.800 sub still salaries with debt service and one hundred percent has gone. So when 667 00:56:14.880 --> 00:56:17.320 we then build the roads, we borrow. So when you see you are 668 00:56:17.320 --> 00:56:21.519 building a road and we are borrowing, it is the same thing. We 669 00:56:21.639 --> 00:56:27.400 have a budget deficit that is nearly nearly times two or so of the actual 670 00:56:27.519 --> 00:56:30.559 budget. There's no money. We have huge cost act. We waste money 671 00:56:30.880 --> 00:56:35.000 on PMS imports. It doesn't show up in the budget. But what it 672 00:56:35.079 --> 00:56:37.960 does that is reduces the amount that NNPC is paying to the budget. Because 673 00:56:38.599 --> 00:56:44.679 NNPC is paying for subsidy WI means they remit less to the budget. That's 674 00:56:44.719 --> 00:56:47.920 why it's the president today NNPC that they should give their fund you or their 675 00:56:47.920 --> 00:56:52.679 accounts to the CBN. So when NPC sells coop oil going forward, CBN 676 00:56:52.760 --> 00:56:57.559 gets the money and the ideas are CD will remits to the costs, so 677 00:56:57.639 --> 00:57:01.280 is the revenue fund. So when you increase minimum weight from unless you want 678 00:57:01.360 --> 00:57:05.440 to print money, which is what Harry it is, so hurry printed to 679 00:57:05.559 --> 00:57:08.480 the three trillion. That's what they were to pay salaries because they have borrowed 680 00:57:08.519 --> 00:57:14.760 money to put to import p ands and they were also borrowing money to subsidize 681 00:57:14.800 --> 00:57:17.920 to borrow the nira, so all their revenues went to PMS imports. Then 682 00:57:17.960 --> 00:57:22.679 they start to print money to pay salaries. So today we have to enter 683 00:57:22.800 --> 00:57:31.320 trillion on accounted for nearly fifty billion printed fifty billion. That's the b dollars, 684 00:57:31.559 --> 00:57:35.719 the equivalent of whole prins in Nigeria. That's what we did. So 685 00:57:35.880 --> 00:57:38.000 right now if you keep on printing, who becomes Zimbabwe, which is why 686 00:57:38.039 --> 00:57:42.599 we're in this problem. So Narra is not falling. Narra is going to 687 00:57:42.679 --> 00:57:49.199 the level of a currency that hast printed fifty billion without a productivity on the 688 00:57:49.239 --> 00:57:52.719 other side, that's where you have the problems that you're seeing. Manra is 689 00:57:52.760 --> 00:57:54.599 not falling. This is the level. It is not being more than this, 690 00:57:55.079 --> 00:57:58.800 even though for what the ceiling is going to even hold this up if 691 00:57:58.840 --> 00:58:02.519 you allow the NARRA to free fluid have five thousand to one. It's because 692 00:58:02.519 --> 00:58:07.239 of what they're doing that's even got in its value or profit. That's to 693 00:58:07.280 --> 00:58:13.400 do what they're doing. I think, please answer. Let me tell you 694 00:58:14.079 --> 00:58:15.559 it's not a saying that you cannot play any more with that, you can't 695 00:58:15.559 --> 00:58:30.360 play any more with your for thousand, dog, I think we lost you 696 00:58:30.440 --> 00:58:36.000 again, lost them? Yeah, dog, let me see a car. 697 00:58:36.199 --> 00:58:38.519 Dog. We just dropped some bombs and I think it's this. This is 698 00:58:38.559 --> 00:58:43.639 the infrastructure we're talking about right as far we need to get the internet and 699 00:58:43.719 --> 00:58:49.159 then at the planet. I know is so dog, if you can hear 700 00:58:49.280 --> 00:58:52.880 us, let me take that questionure. But I think that's a professor's question. 701 00:58:52.960 --> 00:58:57.119 Oh K, do you have a question? I do? Hi, 702 00:58:57.280 --> 00:59:00.880 cal hi, everybody listen. I kind of sent to you the DM or 703 00:59:00.920 --> 00:59:06.000 whatever today, but I just want to clarify what's going on. Okay, 704 00:59:06.679 --> 00:59:09.239 we're floating the nial that way. We have a buying and selling rate that 705 00:59:09.400 --> 00:59:14.639 is pretty close. Do we still have a sybyn rate? For God's sakes? 706 00:59:15.400 --> 00:59:17.760 No. What we have now is this. You can bring in your 707 00:59:17.840 --> 00:59:22.039 dollars and sell at whatever price you like in your bank. You can also 708 00:59:22.119 --> 00:59:24.679 go to your bank and buy out as bad price and sell to you, 709 00:59:24.880 --> 00:59:28.960 so there's no more CPR reading when they did the first flow. They had 710 00:59:29.000 --> 00:59:32.000 a CBN weighted average rate. That's what is to call it. Weitted average. 711 00:59:32.320 --> 00:59:37.320 Now Cybian has said you have no band, so it's now competition if 712 00:59:37.360 --> 00:59:40.320 you're okay, okay, thank you. That's what I was thinking. But 713 00:59:40.400 --> 00:59:45.159 I was reading this piece. I sent you that from Phoenix dot com I 714 00:59:45.199 --> 00:59:50.159 think a newspaper in Nigeria. And they went on, after talking about floating 715 00:59:50.199 --> 00:59:52.719 then iron rates and everything, they went on to talk about Sybyn rate and 716 00:59:52.840 --> 00:59:57.519 they quoted the CYBN rate that was ready he lost a dollar eight ninety eight, 717 00:59:58.119 --> 01:00:01.119 So I got lost. There doesn't so probably that information was wrong, 718 01:00:01.960 --> 01:00:08.079 is wrong. They are quoted the average that that was the former the UCBIAN 719 01:00:08.239 --> 01:00:13.599 with an average. Right now, I told the imtos intransit agencies, you 720 01:00:13.719 --> 01:00:16.280 can bring in your dollars and you can sell without cap doing that. They 721 01:00:16.320 --> 01:00:19.800 cannot do it. To give night to give dollars, which I think is 722 01:00:19.800 --> 01:00:22.239 also good. They will keep you nirat at their best rate. So that's 723 01:00:22.280 --> 01:00:25.519 basically where we are right now. There's no eight ninety eight, there's no 724 01:00:25.679 --> 01:00:30.719 black market rate. Everybody is looking at for himself now right if you have 725 01:00:30.840 --> 01:00:35.840 as a million dollars to talk to nigerum Bank across your imt o and say 726 01:00:35.880 --> 01:00:37.760 how much did you buy? That's what doctor was saying. You can you 727 01:00:37.880 --> 01:00:42.719 can negotiate to swamp, bring the money in, invest it and so you 728 01:00:42.760 --> 01:00:45.719 can take it out or just sell the IRPs into your door dollars. See 729 01:00:45.000 --> 01:00:49.280 the risk you have when you hold dollars in Nietaria. It doesn't pay you 730 01:00:49.480 --> 01:00:52.960 interest, it's just putting your dom account. You end no interest. Right, 731 01:00:52.239 --> 01:00:59.679 you can buy in Nigerian dollar denominated bond in Nigeria and end returns in 732 01:00:59.760 --> 01:01:02.239 dollar. I've also suggested to the CIBI and I think they want to do 733 01:01:02.320 --> 01:01:07.400 that as well, to issue in dollar bond in Nigeria that would pay dollars. 734 01:01:07.719 --> 01:01:12.079 As we're talking of who are talking on Twitter when the Republic just issued 735 01:01:12.119 --> 01:01:15.800 one They requires a post seven fifty they got nearly five billion. Who do 736 01:01:15.920 --> 01:01:21.360 you think is a five billion? It's Nigerian's who has dollar in Bennet? 737 01:01:21.440 --> 01:01:24.840 Who quotes who have done in Bennett? No one. Everything better Republic does 738 01:01:25.000 --> 01:01:29.440 is for Nigeria. The better Republic is the world. But just important of 739 01:01:29.599 --> 01:01:32.599 rice, Why because I sending to Nigeria right, so Nijas will claim but 740 01:01:32.719 --> 01:01:37.519 we don't import rice anyone else. Signfican's papers quotes, we don't import rist 741 01:01:37.559 --> 01:01:42.559 anymore. But across your border, with the population of folks less than lucky, 742 01:01:42.840 --> 01:01:45.440 are importing more rice than the type of Nigeria that right was coming to 743 01:01:45.559 --> 01:01:50.480 Nigeria the same way we are. Billion dollars. Bene has issued a dollar 744 01:01:50.559 --> 01:01:53.599 bond, meaning you go to that dollar pond, you take another from Nina's 745 01:01:53.639 --> 01:01:57.880 doma cloud. You're putting that dollar pond. They will pay you interest. 746 01:01:58.280 --> 01:02:02.280 Who will they learn that dollar to let raised Nigeria, but the republics won't 747 01:02:02.400 --> 01:02:08.239 lend that same six billion to Nigeria and Nigeria will pay the republic eight point 748 01:02:08.320 --> 01:02:14.920 five percent pharano for thirty years. How do I notice Nigeria bond issue today 749 01:02:15.320 --> 01:02:17.760 thirty years in eight point five billions? So as they very very smart. 750 01:02:17.880 --> 01:02:22.360 All they've done, they've used their credating to borrow seven point five to borrow 751 01:02:22.440 --> 01:02:28.039 some seven cents million dollars. They'll won't buy eurobones showed by Nigeria and end 752 01:02:28.199 --> 01:02:30.480 eight point five whether they paid on the bond today, who will given't moan 753 01:02:30.559 --> 01:02:36.400 in Nigeria's whether than too Nigeria's so Nigeria is there, big Daddy, but 754 01:02:36.519 --> 01:02:38.480 they take their green war we should have done. If you see them issued 755 01:02:38.519 --> 01:02:43.480 a dollar bond, we are able to keep those dollars or to remove the 756 01:02:43.519 --> 01:02:47.039 dollars from dom accounts into where the Citian can use it. Then dollars are 757 01:02:47.119 --> 01:02:52.320 in Nigeria, but the Symbian cannot use it because they don't have those dollars. 758 01:02:52.880 --> 01:02:54.760 Talk I see you here, but less okay. So that has been 759 01:02:54.800 --> 01:03:00.199 stopping n from doing the dollar bond because you do it dollar bond nous. 760 01:03:00.320 --> 01:03:07.039 Nigeria's off currencies in Nyra not legal tender. People confuse legal tender with currency. 761 01:03:07.239 --> 01:03:10.280 Pure currency that the city can issue currency isnyra. So you have to 762 01:03:10.360 --> 01:03:14.559 pass a recognation or a guide that will say you can issue a dollar bond, 763 01:03:14.599 --> 01:03:16.519 which is what that's they've done or they want to do, so that 764 01:03:16.559 --> 01:03:21.679 would bank. You can issue a europe bond. We need that. You 765 01:03:21.760 --> 01:03:27.920 can go outside Nigeria and borrow dollars for Nigeria, but you can't in Nigeria 766 01:03:28.159 --> 01:03:31.239 issue a dollar bond in the past. Now they will allow your band to 767 01:03:31.400 --> 01:03:37.639 issue in bond, so cook bond further, the investment bond in dollars so 768 01:03:37.800 --> 01:03:40.679 why would I keep on it in the dom account in Nigeria when I can 769 01:03:40.800 --> 01:03:45.239 give you to a dollar bond and dollar coupond, so I eliminate the exchange 770 01:03:45.320 --> 01:03:50.079 risk. Right, that's essentially what where they should go to. That way 771 01:03:50.159 --> 01:03:55.159 they can grab that tetipidion and invest it, so everybody's happy. Comments is 772 01:03:55.159 --> 01:03:59.559 happy, and that's not everyone is happy. That's where they should go to, 773 01:04:00.000 --> 01:04:01.280 because then I showed the way. It's not hard. This is not 774 01:04:01.519 --> 01:04:04.480 hard. They make it look so complicated. It's not hard. We're moving 775 01:04:04.559 --> 01:04:08.639 too slow. I keep making this point. Now, you guys moving too 776 01:04:08.719 --> 01:04:12.760 slow. We ponder we get two days. We are moving too slow. 777 01:04:12.840 --> 01:04:15.280 We are competing two people. Is not to take two seconds to do what 778 01:04:15.400 --> 01:04:19.800 I have you're doing. We are moving too slow. If you don't writing 779 01:04:21.000 --> 01:04:26.880 a year from now, it's wrong. If you don't righting a year from 780 01:04:27.000 --> 01:04:30.880 now, it's wrong because if with that at that time, we're too slow. 781 01:04:30.000 --> 01:04:33.400 Bankers don't. I'm not slow, mister. I go, you know 782 01:04:33.519 --> 01:04:38.639 so yourself? Oh okay, you're good, gets any member from your DM, 783 01:04:38.719 --> 01:04:42.599 but I think you should be good. I'm good. Thanks, I'm 784 01:04:42.599 --> 01:04:45.320 adding your back in here. Doctor said you dropping a bout and leaving, 785 01:04:45.639 --> 01:04:48.199 but Doc have added your back. I go please go ahead and foot doctor 786 01:04:48.239 --> 01:05:00.480 comes okay, okay, I'll thank you so much if we okay, fantastic. 787 01:05:00.679 --> 01:05:05.519 I think we're see some beautiful that in so far. But my concern 788 01:05:05.760 --> 01:05:11.960 is on the aspect of the you know, the policies that have been introduced, 789 01:05:12.159 --> 01:05:15.039 and you know, the long term parts, you know, on the 790 01:05:15.119 --> 01:05:19.000 outcome, not just in terms because we're looking at the economy, are not 791 01:05:19.079 --> 01:05:24.079 just looking at the influent flow of resources. We're also looking at the other 792 01:05:24.440 --> 01:05:28.880 micro economic variables, in terms of employment, in terms of you know, 793 01:05:28.960 --> 01:05:34.199 so many other variables as well. And we did some modeling about two three 794 01:05:34.239 --> 01:05:38.719 weeks ago where we took come up the policies and then we modeled for the 795 01:05:38.800 --> 01:05:44.199 next ten fifteen years, and then we're able to factor in some other variables, 796 01:05:44.559 --> 01:05:46.880 including both climate change, you know, as so many other variables you 797 01:05:46.920 --> 01:05:53.199 know included there. And you could see that most of the policies being introduced, 798 01:05:53.320 --> 01:05:57.599 especially at the phisical component, not the Mouletro policy. Now, they 799 01:05:57.599 --> 01:06:00.159 were thus introduced. If I can say more, we are not properly taught. 800 01:06:00.280 --> 01:06:03.880 True, you know, it's easy to you know, to the crazy 801 01:06:04.000 --> 01:06:09.960 documents and then either get them published or get them you know, approved and 802 01:06:10.880 --> 01:06:15.519 at effect. But by the time you begin to model the personalization, you 803 01:06:15.599 --> 01:06:18.559 know, in terms of the outcomes of most of these policies, you could 804 01:06:18.599 --> 01:06:24.679 see that the long time impact is not as op positive as the you know 805 01:06:24.760 --> 01:06:27.920 though as some of the short runs we are currently having and when we do 806 01:06:28.039 --> 01:06:31.599 down modeling, the outcome wasn't so fantastic. Because we picked some of the 807 01:06:32.159 --> 01:06:39.800 vital policies and then we were able to you know, layer them over to 808 01:06:39.960 --> 01:06:44.760 see what the potential outcome will be. It play surprised, you know, 809 01:06:44.840 --> 01:06:48.559 to know that most of them, even though at the initial kickoff stage, 810 01:06:48.679 --> 01:06:54.760 would may lead towards you can say, will be increasing possibly the household income 811 01:06:54.800 --> 01:06:57.679 for example, but by the time you begin to model down to ten years, 812 01:06:57.760 --> 01:07:00.480 fifteen years, and towards thirteen years, you could see that given example, 813 01:07:00.559 --> 01:07:04.000 give me a clear example, eque thing you don't give you okay, 814 01:07:04.119 --> 01:07:11.239 okay, okay. For example, we we took some policy, the native 815 01:07:11.360 --> 01:07:15.480 policy from a grid for example, that was supposed to run for the between 816 01:07:15.480 --> 01:07:21.079 our twenty deity, and then layer that over with the updated NBC and the 817 01:07:21.119 --> 01:07:26.599 climating policy for example, so in terms of operationalizing, because under the climating 818 01:07:26.639 --> 01:07:30.440 policy, if you need to look at the cable market instrument as well, 819 01:07:30.480 --> 01:07:43.159 which can also fit into the police crisis if properly a part life as Yeah, 820 01:07:46.840 --> 01:07:51.760 a couple of pot are you talking about? Okay, so okay, 821 01:07:51.880 --> 01:07:55.400 let me let me let me take it again. You know that, That's 822 01:07:55.400 --> 01:07:59.559 what I'm saying. By the time begin to look at only the monitoring policy 823 01:08:00.119 --> 01:08:05.159 and the physical component has all the subt polities I mean policies in terms of 824 01:08:05.280 --> 01:08:13.320 both sectoral policies that are also supposed to drive these processes. So and give 825 01:08:13.400 --> 01:08:18.239 an example for you know, we did a coat analysis for the National Agriculture 826 01:08:18.359 --> 01:08:25.880 Technology UH policy, the native policy. Now we layer that over with the 827 01:08:26.800 --> 01:08:30.079 updated NBC, which is the National Timing Contribution, all right, and then 828 01:08:30.279 --> 01:08:36.279 also layered it over with the in any Transition Plan and then with the National 829 01:08:36.399 --> 01:08:43.960 Climation Policy. Now, these policy instruments are supposed to trigger we're operationalized. 830 01:08:43.960 --> 01:08:49.640 I also supposed to trigger investments which under those those investment plant are supposed to 831 01:08:49.640 --> 01:08:55.479 be created under those policies, which are supposed to drive the investment in that 832 01:08:55.680 --> 01:08:59.560 area. So for example, if I take the native policy, and then 833 01:08:59.840 --> 01:09:05.399 you bring in the the the now where you're personalize it. You discover that 834 01:09:06.039 --> 01:09:13.760 at the short term we're going to have massive increased deforestation because we are going 835 01:09:13.840 --> 01:09:19.319 to have increased what's it called land developments for acuture production, for commercials, 836 01:09:19.319 --> 01:09:24.079 skilled production for example, which would have a negative impact on the climate. 837 01:09:24.279 --> 01:09:27.760 And then for that INtime probably exposure. What you're seeing this for instance, 838 01:09:27.840 --> 01:09:30.640 is this we cut the trees in Abbia, steam to plants, oil palm 839 01:09:30.760 --> 01:09:36.800 plantations. So then because and address they just seem to have negative climate. 840 01:09:38.000 --> 01:09:42.560 That's what that's what you're saying. Yes, I love give you an example 841 01:09:42.640 --> 01:09:45.800 with one of the policies for example right now, now, if you because 842 01:09:45.920 --> 01:09:51.600 if if if you're looking at because if you're looking at immediate release or immediate 843 01:09:51.720 --> 01:09:56.359 relief, if I can use that word, you wouldn't go for plantations. 844 01:09:56.439 --> 01:10:02.800 You will go for short term high demand for example. Right, too much 845 01:10:02.840 --> 01:10:05.920 into the weeds here, right, you know, I get going to do 846 01:10:06.079 --> 01:10:09.920 this, I get it, but we're not going to go into the weeds 847 01:10:10.000 --> 01:10:15.319 of policy and short term long term climate change. That might not be a 848 01:10:15.399 --> 01:10:17.560 topic now, but try the topic really is going to be the to do 849 01:10:17.680 --> 01:10:24.079 the exchanges, the Mansian policy, and then plan. I understand what you're 850 01:10:24.119 --> 01:10:28.520 saying, but I just want to be sure the die is following you know 851 01:10:28.760 --> 01:10:32.760 that. I understand whe where you're coming from, but people are feeling for 852 01:10:32.840 --> 01:10:36.119 a specific thing this this space, and we have about an hour before the 853 01:10:36.199 --> 01:10:41.960 game starts, so I do I do appreciate your contribution. I just want 854 01:10:41.960 --> 01:10:44.239 to make sure people are following you. If you if you get what I'm 855 01:10:44.239 --> 01:10:50.000 safe. No, it's great. But what I plan to say that even 856 01:10:50.079 --> 01:10:54.680 though you're focusing on only the market policy alone, you cannot take that away 857 01:10:54.800 --> 01:10:59.520 from the all that policies that we draft, the process, the policy, 858 01:10:59.560 --> 01:11:03.880 and lo just like Hanger and without the basic I hear you, and you 859 01:11:03.960 --> 01:11:09.439 heard doctor also said that Sybian alone cannot do this, and I completely agree 860 01:11:09.439 --> 01:11:14.319 with you. It cannot be a CBN alone, sitbing alone cannot drive exchange 861 01:11:14.359 --> 01:11:16.399 rate alone. They can only set maybe maybe a rate or a guide like 862 01:11:16.520 --> 01:11:20.840 the exports that would drive the exchange rates. And like you said, we 863 01:11:20.920 --> 01:11:27.239 won't even sit there entered it. We have to we have to drive the 864 01:11:27.319 --> 01:11:30.479 economy, not silos. But as you know, as a composent, I 865 01:11:30.640 --> 01:11:32.239 completely get you. But I'm not trying to make sure that we are on 866 01:11:32.399 --> 01:11:36.279 points, and you know you are going in some weeds with policy. We 867 01:11:36.399 --> 01:11:41.079 might not follow on a Twitter trend. I'm not sure, so I con 868 01:11:41.359 --> 01:11:46.159 agree with yourself. But let me just here, let me get Kenny Kenny 869 01:11:46.319 --> 01:11:54.880 kind of color? Kind of color going for Shima nine eight or six, 870 01:11:55.000 --> 01:12:00.439 Shimanno six, We've got a closer Shulman nine eight, will six. Hello, 871 01:12:00.520 --> 01:12:05.560 Hello, good good evening, very fine, Thank you, calor you 872 01:12:05.680 --> 01:12:11.399 big for so for the noise. I'm trying to work. So I just 873 01:12:11.520 --> 01:12:15.920 have a real quick question for you and also for I don't have to stay 874 01:12:15.920 --> 01:12:23.119 around. The question is to speak. The question is what I have been 875 01:12:23.159 --> 01:12:27.960 seeing different people's solutions, and I answered, what certain solutions do we have 876 01:12:28.640 --> 01:12:31.920 exactly? What is it to boost? Is it? Is it? Is 877 01:12:32.000 --> 01:12:35.479 it to boost put activity? Over that? So we say, is it 878 01:12:35.680 --> 01:12:41.560 is it? Is it to make sure we produce more food? Basically by 879 01:12:41.600 --> 01:12:46.039 cutting oil taste, we make sure we have more investments in the area. 880 01:12:46.239 --> 01:12:51.640 Because I think somebody disagreed with you earlier seeing that, HM, the fastest 881 01:12:51.720 --> 01:12:56.319 way to get dollars is just to expect. The issue right now is that 882 01:12:56.760 --> 01:13:00.600 we lack investments in the in the oil. Is that really the case? 883 01:13:01.119 --> 01:13:04.840 What? What have the short term? Everybody short term is just to export 884 01:13:04.920 --> 01:13:09.119 more cruder because the oil is already there, it's just being stolen. So 885 01:13:09.279 --> 01:13:13.800 if you're able to get security selfies to to what's going to guarantee that any 886 01:13:13.880 --> 01:13:18.159 oil pumpt will be exported? Just we don't need to do any new investment 887 01:13:18.680 --> 01:13:24.399 just to get honest security men that would watch the oil pipelines, take the 888 01:13:24.479 --> 01:13:28.880 crude oil and export it. Once we do that, dollars flow in. 889 01:13:29.439 --> 01:13:33.560 Once dollars flow in, the Nira will gain value. Is the fastest way 890 01:13:34.039 --> 01:13:39.359 to make your currency appreciate. So I always get surprised that we don't ask 891 01:13:39.439 --> 01:13:43.800 this question. It's like, this is the fastest and easiest way. Simply 892 01:13:44.600 --> 01:13:49.119 ensure that the crude oil that is exported is tracked and exported. That's all 893 01:13:49.239 --> 01:13:54.760 the night will gain value. So all the CBN seculars every day is a 894 01:13:54.800 --> 01:13:59.600 new secular. We've done more seculars than as truckers have scored gos in Afcon. 895 01:14:00.239 --> 01:14:01.840 If you simply go into the seat to the creeks and you say we 896 01:14:02.000 --> 01:14:09.680 want to ensure that every oil barrel pumped, is captured, measured and exported, 897 01:14:09.760 --> 01:14:13.079 the NARRA will go back to five hundred. Note my words. If 898 01:14:13.199 --> 01:14:17.760 Nigeria exports every crude oil barrel that it pumps out of the ground, the 899 01:14:17.880 --> 01:14:21.399 NARRA will go back to five hundred. It's a very very simple thing, 900 01:14:21.640 --> 01:14:26.039 very very simple fixed. But they don't want to do it. So who 901 01:14:26.119 --> 01:14:29.399 is day I don't know, but who is in terid of exporting crude oil? 902 01:14:29.720 --> 01:14:32.159 Day? That person doesn't want to do it because why would they not 903 01:14:32.279 --> 01:14:35.039 do it? If they can do it, why would they not do it. 904 01:14:35.159 --> 01:14:39.520 It's only because they don't want to do it. Because if you have 905 01:14:39.600 --> 01:14:43.880 the solution is so easy and you don't do it, then you don't want 906 01:14:44.039 --> 01:14:48.000 to do it. End of story, right shin so trying, That's that's 907 01:14:48.039 --> 01:14:59.680 the answer the talk. And if you're back with us, yes, before 908 01:14:59.680 --> 01:15:01.479 you let I was trying to get you on the record to say if you 909 01:15:01.680 --> 01:15:06.159 believe that this reforms of the you already answered that question. But you were 910 01:15:06.199 --> 01:15:17.199 going somewhere and then you were caught off. So you know, I mean, 911 01:15:17.239 --> 01:15:20.079 you were going somewhere and then you were caught off. At the last 912 01:15:20.159 --> 01:15:24.520 time we spoken, we were talking about the monetary policies, we are talking 913 01:15:24.560 --> 01:15:32.000 about the physical side as well compliment. So what what the truth is? 914 01:15:32.720 --> 01:15:38.600 If the physical side you just sabilize the physical side of the of the economy, 915 01:15:39.199 --> 01:15:44.840 the governors and the presidency and master courage, master political will, master 916 01:15:45.000 --> 01:15:50.159 honesty to protect our island gas resources so that everything we produce showed would be 917 01:15:50.359 --> 01:15:57.800 stun all lost. Two inefficiencies. The naira would appreciate so much against the 918 01:15:57.880 --> 01:16:00.960 color. It's a very simple lot of demander. So, like I said, 919 01:16:00.720 --> 01:16:06.680 our legitimate import bill, import bill not tainted by corruption and criminality, 920 01:16:06.760 --> 01:16:13.000 is that for the three billion is about fifty three billion dollars. Nigeria has 921 01:16:13.119 --> 01:16:17.880 capacity to circle and tried the aspart. Let me tell you cal if we're 922 01:16:18.000 --> 01:16:24.600 able to consistently bring in about one fifty billion dollars into this economy every year, 923 01:16:25.600 --> 01:16:29.039 I'm able to check mate and rending the criminal demand for the dollar, 924 01:16:30.600 --> 01:16:34.840 I bet you the nira will so appreciate against the with the warning you as 925 01:16:34.840 --> 01:16:41.800 the word fire, chasing it down. The challenge here is not the monetary 926 01:16:41.880 --> 01:16:45.560 policy managers. The madle challenge here ninety percents are the physical managers. Do 927 01:16:45.720 --> 01:16:49.199 I have confidence and throw that they will be able to live up child. 928 01:16:49.800 --> 01:16:54.039 The confidence is zero, and that is the truth. I don't want to 929 01:16:54.039 --> 01:16:58.399 deceive myself. So I mean, let's look at revertiences. If natures simply 930 01:16:58.520 --> 01:17:02.199 increased the remud percent, that would have a huge impact, huge impact on 931 01:17:02.279 --> 01:17:06.800 the foreignst endings. And we're doing welfare as so if we just simply got 932 01:17:06.840 --> 01:17:12.960 the Canadians to seem just increase lies by just ten percent, that would be 933 01:17:13.039 --> 01:17:27.479 a cad. That was an interview. I've got that light and the yeah 934 01:17:27.520 --> 01:17:39.560 we love talk again dot lost less let me yeah, Doc, I'm so 935 01:17:39.680 --> 01:17:43.960 sorry, Doc, I'm so so sorry. Your audio is really dot com 936 01:17:44.000 --> 01:17:46.319 project your audience bad. We really want to hear you out and get your 937 01:17:46.359 --> 01:17:49.520 talk. What your audio is really really keeping those back? Let's let me 938 01:17:49.560 --> 01:17:55.640 get all our edwards all what's your take? All? Right? Thanks so 939 01:17:55.760 --> 01:18:03.079 much. So I've always for the your writers, and I in a lot, 940 01:18:03.680 --> 01:18:11.279 lot a lot I agree to so many of their oppositions, the topics, 941 01:18:11.680 --> 01:18:15.399 the three points you know today, I just want to pick on maybe 942 01:18:15.600 --> 01:18:19.399 just one and how maybe hopefully one of them would have I mean, they 943 01:18:19.439 --> 01:18:26.640 all have correlating effect anyway. The monetary policy, So in quick as I 944 01:18:26.760 --> 01:18:30.159 think the last back I was saying mentioned as added to the monetary for sure, 945 01:18:31.560 --> 01:18:39.479 But in just In Layman's TEMs, minetary policy is all about the money 946 01:18:39.600 --> 01:18:43.439 circulation, the interest rates from the center back the physical policies, about the 947 01:18:43.560 --> 01:18:46.399 taxing and the government spending. So if you keep those two keywords together, 948 01:18:46.920 --> 01:18:50.760 what we have in Enginia and which I think you've spoken you really writing a 949 01:18:50.800 --> 01:18:56.039 lot about, is the means management and the use of spending by government. 950 01:18:56.720 --> 01:19:00.880 The problem, yeah, is this we have an I think, I oh, 951 01:19:00.000 --> 01:19:02.680 I don't know how we can. I don't know. Maybe you can 952 01:19:02.720 --> 01:19:08.640 people dedicate a lot more time to proably educating and maybe somehow thes wh would 953 01:19:09.520 --> 01:19:13.720 drip into the government. So far we need to kind of structure and wrap 954 01:19:13.880 --> 01:19:17.319 up the physical policy of Nigeria. We all keep talking about the monetary policy. 955 01:19:17.640 --> 01:19:19.960 There's a lot of topics, a lot of talking, a lot of 956 01:19:20.079 --> 01:19:24.479 things because we are concentrated about the central bank. But the central bank is 957 01:19:24.520 --> 01:19:28.199 it is it two edges word. The central bank does its own monetary policy, 958 01:19:28.319 --> 01:19:30.560 but it is not catched up, it is not leveled up. It's 959 01:19:30.600 --> 01:19:34.359 not a leverage with physical policy. And that physical polity is about the taxation 960 01:19:34.479 --> 01:19:39.079 for example, I mean I I read somewhere I'm not just sure. Maybe 961 01:19:39.159 --> 01:19:41.880 I mean I've been out of nanger very long time. They follow the you 962 01:19:41.960 --> 01:19:46.279 know, Nangeria for politics and the economic system being a fact that I'm I 963 01:19:46.439 --> 01:19:49.960 file atangera with a child account and I work with a multinational right now, 964 01:19:50.039 --> 01:19:53.520 and I will pick a point point also from my point of view as a 965 01:19:53.760 --> 01:20:00.079 multinational and how we deal with Nigeria, we have a very poor taxing of 966 01:20:00.199 --> 01:20:03.159 them Energeera. And when I say this, it seems to suggest, oh, 967 01:20:03.199 --> 01:20:06.159 you're not an Egeria with atcore with the situational people are going to your 968 01:20:06.159 --> 01:20:10.720 expl them to be paying tax. Why is Lego State what it is today 969 01:20:11.520 --> 01:20:15.039 because of the taxes, because of the I gr Lego State is able to 970 01:20:15.159 --> 01:20:18.560 muster. Imagine if we could, if Lego State, if Engerer could would 971 01:20:18.720 --> 01:20:23.920 as a feder government were must have the same kind of courage that Lego State 972 01:20:24.039 --> 01:20:28.079 is having to kind of even deep ay about twenty thirty percent of the idea 973 01:20:28.279 --> 01:20:30.960 that Legosy is able to it would generate. I think we need to put 974 01:20:31.079 --> 01:20:35.640 more talk. We talk a lot about manager which is good interest to it 975 01:20:35.760 --> 01:20:41.000 our central ban because controls the circulation, push money into the economy. How 976 01:20:41.119 --> 01:20:45.279 this cause inflation and you know, to money money for tolp them to less 977 01:20:45.399 --> 01:20:51.319 demand, less the resources. But what about the lack of generation of igr 978 01:20:51.399 --> 01:20:56.399 from the government through taxation. That's number one, And then we have this 979 01:20:57.319 --> 01:21:02.680 completely ballooned with spending recklessness of the government. So if we say physical policy 980 01:21:02.720 --> 01:21:06.920 about taxing and spending, which is government's side, we need to go the 981 01:21:06.920 --> 01:21:11.239 government a litill be more responsible, maybe by educating them, maybe which you're 982 01:21:11.279 --> 01:21:14.439 someone like you with your you know you're with you reach to me to wry 983 01:21:14.520 --> 01:21:16.880 to reach the oposis of the people who are going to be looking and saying, 984 01:21:16.880 --> 01:21:20.000 you know what, let's start. Let's start with some taxing. I'll 985 01:21:20.039 --> 01:21:24.479 give you a quick example because I know because of our time. A young 986 01:21:24.520 --> 01:21:27.720 boy just came to the country. They're just entered the Germany. I live 987 01:21:27.760 --> 01:21:30.760 in Germany. Is a son of aware now nangeran person, you know, 988 01:21:30.880 --> 01:21:35.359 high level person and it is here to study. And this guy was surprised 989 01:21:35.840 --> 01:21:42.439 how almost everything is taxed. Everything living in Germany or everything. You can 990 01:21:42.560 --> 01:21:45.800 do anything without meant with that fact, so without having your five percent percent 991 01:21:45.960 --> 01:21:49.399 whatever it is on it and it was surprised, and I said, this 992 01:21:49.600 --> 01:21:54.960 is how this country works. They have no mineral resources they live on. 993 01:21:55.760 --> 01:22:00.079 If it's good physical policy, even Nigeria could muster fifty percent of this even 994 01:22:00.359 --> 01:22:04.760 with the recklessness of spending of government. Believe me, even with the recklessness 995 01:22:04.800 --> 01:22:11.520 of government and general will go because it to leverage the monetary policy that because 996 01:22:11.640 --> 01:22:14.600 of the Centric Bank is trying to do the comp that the physical policy, 997 01:22:14.680 --> 01:22:18.239 but strengthened the monetary policy, which just what actually honest I might take. 998 01:22:19.840 --> 01:22:26.119 So I hear, I hear you. Let me try to address something for 999 01:22:26.319 --> 01:22:30.479 in terms of taxes and or taxes, and I know I'm going to get 1000 01:22:30.479 --> 01:22:32.319 into problem. Let me say this right, but let me I'm gonna use 1001 01:22:32.399 --> 01:22:36.760 that, but I'll get into trouble. But one thing is this right, 1002 01:22:38.479 --> 01:22:43.880 Nigerias don't pay tax because they don't see any. But that's besides. I've 1003 01:22:43.920 --> 01:22:45.920 said that, that's a besides. So we pay a lot of informal taxes 1004 01:22:46.720 --> 01:22:51.159 a house in legals for in terms who had this whole water supply? Let 1005 01:22:51.319 --> 01:23:00.479 the supply on security. So is it's good to private school, private hospitable 1006 01:23:00.560 --> 01:23:05.079 soul their like in tax if you look at Lego states as a state, 1007 01:23:06.000 --> 01:23:12.479 look at Nigeria as a country. Date in Nigeria to really have the art 1008 01:23:12.560 --> 01:23:18.520 of tax income, the only income is access pay pay as you earn is 1009 01:23:18.640 --> 01:23:24.520 you get to pero tax, so you get paid the pay roll of your 1010 01:23:24.640 --> 01:23:30.520 company is taxed by the states in which you working. Right, so if 1011 01:23:30.560 --> 01:23:36.239 you take it like um Bay state, Goba is number one state in Nigeria 1012 01:23:36.520 --> 01:23:41.840 according to the ease of doing this. So if i's up in Nigeria, 1013 01:23:41.960 --> 01:23:46.359 I go to go, They're going to get more incentives in Goal than Legos. 1014 01:23:47.159 --> 01:23:51.880 So why as going be not be able to tax and Legos le to 1015 01:23:53.000 --> 01:24:01.319 tax because Nigerian federal government taxes incomes of come not Lego can a little bit 1016 01:24:01.359 --> 01:24:08.680 of what we just said. When you then go to Lego state, why 1017 01:24:08.760 --> 01:24:15.479 those Lego states get I g are higher than Gumbi because companies in Nigeria are 1018 01:24:15.800 --> 01:24:25.079 registered in Legos and Bucher primer thrue CD. So if you're where sure is 1019 01:24:25.119 --> 01:24:29.920 that in Legos? Where is moist Legos? Where dangutter is that in Legos? 1020 01:24:30.239 --> 01:24:34.159 So even if you collect your salaries in Gumbi or in Aba or in 1021 01:24:34.319 --> 01:24:41.880 Cartsina, legost it gets the idea. So Legos is an out liar for 1022 01:24:42.159 --> 01:24:50.119 taxes because paye and the Nigeria law favors the outline because you only tack AE. 1023 01:24:50.960 --> 01:24:55.880 In America, for instance, states can attack what they want. So 1024 01:24:56.199 --> 01:25:01.479 Florida does not have personally contacts. California has personally tax companies are leaving New 1025 01:25:01.600 --> 01:25:04.920 York. In terms of text, they are the small reader. Yeah, 1026 01:25:05.399 --> 01:25:11.199 yeah, going to get low tax pis that in Ninete? Not really? 1027 01:25:11.319 --> 01:25:16.000 So if you go to go and be but your company was registered or illegal 1028 01:25:16.119 --> 01:25:19.920 STIs you're going to pay Pey and Legos to get that. It Okay, 1029 01:25:19.920 --> 01:25:25.960 but let's let's let's let's lett shu. Let's let's understanding here. A little 1030 01:25:26.000 --> 01:25:30.039 bit of it looked. I'm just kind of negative, A little bit kind 1031 01:25:30.039 --> 01:25:31.720 of negative. Little point to the points is what I want to do if 1032 01:25:31.760 --> 01:25:35.880 we want to dip down the taxing issue right now. For example, in 1033 01:25:35.960 --> 01:25:43.720 Germany, you the way our tax structure is made. If you hand like 1034 01:25:45.439 --> 01:25:49.680 five thousand euros a month, I can tell you that about forty percent of 1035 01:25:49.760 --> 01:25:54.359 it is taken up. And the way it's broken down. Is this a 1036 01:25:54.479 --> 01:25:58.800 large question of it is going to the health insurance. The large question the 1037 01:25:58.920 --> 01:26:03.079 next question of it is going to your pensions and insurance. And then the 1038 01:26:03.199 --> 01:26:10.079 next perssions are other maybe tax which you can opt out. You have social 1039 01:26:10.079 --> 01:26:15.600 attacks which you can which is mandatory. Now that those taxes are good at 1040 01:26:16.039 --> 01:26:21.279 a large day, go into the government where the state comes in on the 1041 01:26:21.359 --> 01:26:26.520 consumption level. And this is where what I'm talking about, if we can, 1042 01:26:27.079 --> 01:26:33.239 if states can monster this kind of you know, aggressive push. I 1043 01:26:33.359 --> 01:26:38.119 think I think it's a great long way, but I think it's just't weird 1044 01:26:38.199 --> 01:26:44.000 the fear as it. Yeah, the point of making. The laws of 1045 01:26:44.279 --> 01:26:50.319 Nigeria do not allow gon Be to tax income of companies. They can only 1046 01:26:50.640 --> 01:26:56.800 tax the in pay roles. No, Nigeria's number one income source is in 1047 01:26:56.960 --> 01:27:03.119 contaxt of companies. The reason why has a huge igr is that the capital 1048 01:27:03.199 --> 01:27:12.000 of Lego of commercial commers Nigeria is Lego gog outliers. You can't Legos with 1049 01:27:12.319 --> 01:27:18.920 Gumbe on any other states because those are payrolls to tax. So shell egg 1050 01:27:19.039 --> 01:27:24.520 zone than go to. These are covered are not based in Legos, you 1051 01:27:24.600 --> 01:27:27.800 know what I mean. They are drilling all and not quite bomb. Their 1052 01:27:27.960 --> 01:27:32.479 industry is outside Legos, but they are paying the payroll tax in legos. 1053 01:27:33.000 --> 01:27:40.000 So if you do a physical vetereralism where you can allow all the states in 1054 01:27:40.119 --> 01:27:43.640 Nigeria to determine the term to tax it. But if you if you want 1055 01:27:43.680 --> 01:27:45.760 to go with the argument with the point you mentioned earlier, that because then 1056 01:27:45.840 --> 01:27:49.520 you don't see the outcome of their taxing. That's why they're not encouraged to 1057 01:27:49.560 --> 01:27:51.720 do it. I think we're not still doing it. We're not still doing 1058 01:27:51.760 --> 01:27:58.119 theself. You can't blame in Nigeria for not paying taxes. I did that 1059 01:27:58.279 --> 01:28:01.600 before. I've stopped. You can asking Nigeria to pay taxes. When the 1060 01:28:01.760 --> 01:28:09.920 National Assembly workers are saying that they cannot cut one coble from their expenses in 1061 01:28:10.039 --> 01:28:15.399 this time of austerity, everyone has caught everyone is paying more. National Assembly 1062 01:28:15.520 --> 01:28:20.520 on record said they cannot cut one cable. They went ahead an important luxury 1063 01:28:20.720 --> 01:28:26.920 SUVs. You can't blame Nigeria's I'm not saying you should dodge taxes. I 1064 01:28:27.239 --> 01:28:32.119 teach people how to avoid taxes and that is legal. There's tax avoiders, 1065 01:28:32.159 --> 01:28:36.479 there's tax evasion. Don't invade taxes. But anything you can do not to 1066 01:28:36.560 --> 01:28:41.600 pay your taxes, please go ahead and do so. It's legal. That's 1067 01:28:41.600 --> 01:28:45.880 why many tax companies exist today. There has to be joint responsibility. The 1068 01:28:46.000 --> 01:28:51.000 Inciblians have got to pay tax and the government has got to be responsible with 1069 01:28:51.119 --> 01:28:56.199 tax repiners. We can't make noise and say you want to buy a five 1070 01:28:56.479 --> 01:29:00.199 billion Nairai yacht for the Nigerian Navy. You go ahead and buy, then 1071 01:29:00.279 --> 01:29:04.880 come back and say please pay your taxes. There's got to be joint responsibility. 1072 01:29:04.920 --> 01:29:10.239 And to your final question. V eight is created in Legos because Legos 1073 01:29:10.279 --> 01:29:15.159 has invested in assets in Legos. So V ety is a tax on consumption. 1074 01:29:15.680 --> 01:29:20.439 So the Legal States invests in red line blue line. More people come 1075 01:29:20.520 --> 01:29:25.479 to legal state, they have a deep sea port, they create more V 1076 01:29:25.680 --> 01:29:29.640 eighty that then boost their bottom line. That's one way to do it. 1077 01:29:29.840 --> 01:29:32.520 If you allow the same rules from V. Eighty to apply to the federal 1078 01:29:32.840 --> 01:29:38.720 income tax, then all states instantly become viable. You can't tell Lego sty 1079 01:29:38.800 --> 01:29:42.199 they can collect V. Eighty, but they can collect income tax or corporations. 1080 01:29:42.520 --> 01:29:46.239 What's the difference. So that an military law that was created by the 1081 01:29:46.319 --> 01:29:51.159 military, it has no business in economics or physical federalism, Why should his 1082 01:29:51.279 --> 01:29:56.840 state Abyo State not be able to tax companies in ABBYO states and not be 1083 01:29:56.880 --> 01:30:00.239 able to reduce taxes. So that means that that was like a say, 1084 01:30:00.279 --> 01:30:03.159 I want to go to abbiasting because in ABAS the only text me one percent 1085 01:30:03.600 --> 01:30:06.880 corporate in contacts. Why can't they do that? If you did that, 1086 01:30:08.279 --> 01:30:14.279 then you credited six plus one sit zones of economic prosperity, not just legos. 1087 01:30:14.720 --> 01:30:17.439 That's how we have to think all these federal old school things. Kick 1088 01:30:17.520 --> 01:30:24.079 them out. I'm bringing brand new ways of doing business in Nigeria. Great 1089 01:30:24.119 --> 01:30:27.199 points, and that I see you dropped off a great great great questions Necker 1090 01:30:28.199 --> 01:30:31.600 Necker one go hig hydenen teep holding on the model of three essets of ps 1091 01:30:31.680 --> 01:30:39.920 like Necker, do you have a question please? Necker going once, Necker 1092 01:30:40.039 --> 01:30:51.319 going twice. I've got polonium seven seven. Yeah, call. Thank you 1093 01:30:51.439 --> 01:30:57.840 so much for this space. Basically, you know, I was listening to 1094 01:30:57.960 --> 01:31:01.800 this space and one thing I'm gonna take away from the conversation today, it's 1095 01:31:01.840 --> 01:31:09.720 the fact that this government, like the ones before it, probably you know, 1096 01:31:09.840 --> 01:31:13.039 it just lacks the political will to do what is right for the people. 1097 01:31:13.159 --> 01:31:20.560 Because I mean your two conversations ago, you know you said it clearly 1098 01:31:20.640 --> 01:31:24.960 because you know, sorry, for the backgrounds a bit. You said it 1099 01:31:25.039 --> 01:31:28.239 clearly, you know, because I was thinking, is it that this government 1100 01:31:28.399 --> 01:31:31.520 they don't know what it requires to solve the problem, But you said it 1101 01:31:31.600 --> 01:31:36.479 clearly. These the solutions are there in the reach. You know. I 1102 01:31:36.600 --> 01:31:42.279 was going to ask, what is it that this government has against helping nagerants 1103 01:31:42.319 --> 01:31:47.560 to helping to grow sames in Nigeria, helping to grow small businesses, helping 1104 01:31:47.640 --> 01:31:51.720 nagurants to go back to the farms to start to produce, you know, 1105 01:31:51.840 --> 01:31:56.800 to export. What is it that this government has or what's hindering this government, 1106 01:31:57.159 --> 01:32:00.760 you know, from being able to assist Nigerian because there's nowhere in the 1107 01:32:00.840 --> 01:32:05.880 world it is esamins that grows economies. It is estamins that that employ citizens. 1108 01:32:06.520 --> 01:32:12.600 What is it that this government what is stopping what's preventing this government from 1109 01:32:12.680 --> 01:32:16.199 doing what everybody knows is a simple way out of this quak mind? Thank 1110 01:32:16.239 --> 01:32:19.159 you? That's my argue with that. Let me tell you something to write 1111 01:32:19.279 --> 01:32:24.560 if you were to ask the two issues in Nigeria today, there are two 1112 01:32:24.680 --> 01:32:29.439 issues and one one underligning issue. The two issues are number one the non 1113 01:32:29.520 --> 01:32:32.520 exports of crude and number two is the bandit tree. There is nothing the 1114 01:32:32.640 --> 01:32:39.439 CBN, the presidency or the States can do if these two is nothaken care 1115 01:32:39.479 --> 01:32:43.840 of nothing. If we don't take of these two issues, the presidency of 1116 01:32:44.239 --> 01:32:47.199 Latin Nouble will not succeed. And I say it openly. Number one exports 1117 01:32:47.239 --> 01:32:50.039 of crude oil Number two bandished. Let me break it down for you. 1118 01:32:50.359 --> 01:32:55.439 If you don't export crude oil, you will not get foreign reserves or foreign 1119 01:32:55.520 --> 01:33:00.680 currency into Nigeria. Nigeria's number one and by wide man almost eighty five ninety 1120 01:33:00.720 --> 01:33:05.399 percent source of crude oil is the export of crude oil and gas. I 1121 01:33:05.520 --> 01:33:10.680 U still think, who are exporting cocoa and robert? Forget that nurs audio 1122 01:33:11.199 --> 01:33:14.840 Niger does not export those non oil things. That is too minuscule. We 1123 01:33:14.960 --> 01:33:18.600 don't make five billion exporting those things. We don't forget those crude oil, 1124 01:33:18.960 --> 01:33:24.720 cocoa, Rabbert, soil, things cash. You not forget them. Nigeria 1125 01:33:24.800 --> 01:33:29.960 today is a crude oil and gas exporter, which means if you don't, 1126 01:33:30.000 --> 01:33:33.079 it's like you have a company giving you eighty percent of your revenues and I 1127 01:33:33.199 --> 01:33:36.880 have a company giving you ten percent of your revenues. If you want revenues, 1128 01:33:36.960 --> 01:33:40.800 where do you invest in you can go for the ten percent. If 1129 01:33:40.840 --> 01:33:44.600 you make that ten percent one hundred percent, that's giving you ten percent. 1130 01:33:45.159 --> 01:33:48.319 If you make that eighty percent, even ten percent, that's eight percent on 1131 01:33:49.000 --> 01:33:53.319 on your eighty percent. Look, the matter is spelling you. But if 1132 01:33:53.399 --> 01:33:57.960 you invest more on your largest source of revenue, then you get more just 1133 01:33:58.039 --> 01:34:00.079 by for you. So why are we not first on oil and gas? 1134 01:34:00.159 --> 01:34:04.359 That's number one? So without all the gas exports, the Sibian policies and 1135 01:34:04.520 --> 01:34:10.439 this government's economic policies will fail. You see where we are boring because we're 1136 01:34:10.479 --> 01:34:13.960 not exporting frude oil. That's number one. Let's talk about number two. 1137 01:34:14.119 --> 01:34:17.119 The bandits. Why do it's balanced? Are balanced? Important? Because bandlets 1138 01:34:17.159 --> 01:34:24.319 are restricting the food supply across Nigeria. Why is food importance? Inflation in 1139 01:34:24.399 --> 01:34:29.319 Nigeria is driven by food. Food makes up fifty one percent of the consumer 1140 01:34:29.479 --> 01:34:33.319 price index that tracts infliction. What that misnablishes this If the price of food 1141 01:34:33.399 --> 01:34:38.319 goes up, inflation goes up. So you in Legos that wants to buy 1142 01:34:38.359 --> 01:34:41.439 an Apple phone from a big won't take a load to bang Apple phone that 1143 01:34:42.319 --> 01:34:45.239 the bank of chat. Maybe that's just as you ten percent If bandits in 1144 01:34:45.399 --> 01:34:51.840 Katina or in Kby strike and the price of food becomes expensive in kt in 1145 01:34:53.000 --> 01:34:58.039 Katina and Keby. It affects the price you will pay for your Apple phone 1146 01:34:58.159 --> 01:35:04.039 in Legos. It's linked. Food drives inflation. Inflation drives interest rates that 1147 01:35:04.199 --> 01:35:10.439 the CBS said the monitor policy with and that drives what your bank will charge 1148 01:35:10.479 --> 01:35:14.960 you. So to reduce interest with in Nigeria, you go to the source. 1149 01:35:15.399 --> 01:35:18.399 You take away the bandits. So there's food in the economy. If 1150 01:35:18.439 --> 01:35:24.560 there's food in the economy, interest rates for if interest rates for your cost 1151 01:35:24.640 --> 01:35:30.800 of doing business an SEMy and as a consumer also fall. If you can't 1152 01:35:30.840 --> 01:35:33.079 take away the bandits, you open up the ports. You can let Nigeria 1153 01:35:33.159 --> 01:35:38.199 suffer because you can't give bandits. You open up the ports, you allow 1154 01:35:38.319 --> 01:35:43.520 food to comes to Nigeria free of charge. That would mean that the cost 1155 01:35:43.640 --> 01:35:47.680 of tubers, plantains, meat, fish will fall. You give Nigerians a 1156 01:35:48.039 --> 01:35:54.199 salary increasing because they're spending less on food. If they're spending, they are 1157 01:35:54.359 --> 01:36:00.359 consuming and the less are consuming. That creates jobs and productivity. Right now, 1158 01:36:00.479 --> 01:36:03.039 we're covering our eyes from the sun. We're saying we will not allowed 1159 01:36:03.039 --> 01:36:06.439 to look out food because we can kill bandies and will also put on our 1160 01:36:06.479 --> 01:36:11.439 borders. Why I kill ourselves? So food is expensive? Lookout, food 1161 01:36:11.479 --> 01:36:15.720 is expensive. It that's just it. Those two things. If you don't 1162 01:36:15.760 --> 01:36:19.520 take care of them, oil exports and food supply to the cities, no 1163 01:36:20.039 --> 01:36:27.159 economic policy you do will succeed. Write it down. This is the issue. 1164 01:36:27.279 --> 01:36:30.640 So whatever we say is good is short term. Until you fix these 1165 01:36:30.680 --> 01:36:34.800 two issues, not an economic can happen. You know, economy can grow 1166 01:36:34.880 --> 01:36:41.039 with twenty two for an extended period. There's nothing wrong with When we had 1167 01:36:41.119 --> 01:36:45.079 COVID inflasion went up in America to eight nine, that is down to two 1168 01:36:45.119 --> 01:36:48.680 percent. That was a shock to the system. Right, you can't have 1169 01:36:48.760 --> 01:36:55.600 an economy in Nigeria where implasion is double digits amount of eleven about twenty percent 1170 01:36:56.119 --> 01:37:00.840 for months. It's been twenty percent plus four months in Nigeria. How do 1171 01:37:00.960 --> 01:37:06.840 you plan? How do you say? It's impossible? Sorry for I mean 1172 01:37:08.279 --> 01:37:12.880 sorry, sorry, sorry sorry to do I mean we know this, We 1173 01:37:13.039 --> 01:37:15.640 know the problems, you know, but I was just trying to sol see 1174 01:37:15.680 --> 01:37:18.840 some help from you to you know, if you have been able to identify 1175 01:37:19.000 --> 01:37:25.000 what the problem is, what is stopping the APC goverment problem doing what you 1176 01:37:25.079 --> 01:37:29.600 have said, because the one is there, why can't they do it? 1177 01:37:29.720 --> 01:37:34.239 I wrote my point, I will retake my sociou one go and get a 1178 01:37:34.479 --> 01:37:40.279 navy, either the Dutch Navy or the UK Navy, and you give them 1179 01:37:40.319 --> 01:37:44.840 a contract to patrol the Niger Delta. And as you stop all atone and 1180 01:37:44.920 --> 01:37:47.600 say, oh while we get to the Dutch Navy or the UK navy, 1181 01:37:47.720 --> 01:37:54.199 that is that's against our solving whatever whatever, that's nonsense. Your nigieralavy has 1182 01:37:54.279 --> 01:38:00.199 not stopped the tenth of crude oil. Literally Nigeral arrested the ship to the 1183 01:38:00.279 --> 01:38:04.680 ship to nigeriety port. This ship disappeared, not once, not twice. 1184 01:38:05.439 --> 01:38:09.319 Google it, don't we don't listen what I'm telling you. Google it? 1185 01:38:09.920 --> 01:38:14.319 So you have we have foreign They were right. I used to work for 1186 01:38:14.439 --> 01:38:19.760 the navy. Oh okay, see we have for advisors for the soccer team. 1187 01:38:20.239 --> 01:38:25.840 So we understand that soccer is so important that we hire you foreigner to 1188 01:38:26.039 --> 01:38:29.359 coach Nigeria, so similar to when score goes in Africa. But we can 1189 01:38:29.520 --> 01:38:32.680 hire a Nigeria Navy. We cannot go to your partnership with the Niger Livy 1190 01:38:32.720 --> 01:38:38.680 ship to block the entire coat. And because oil that ers to stop, 1191 01:38:39.239 --> 01:38:42.560 they have to explot that oil. And you can't put oil in your pocket. 1192 01:38:42.960 --> 01:38:45.399 So once you stop the oil and stop them, that's number one for 1193 01:38:45.560 --> 01:38:49.239 band It's the same thing bringing me if you can't do it higher maceinaries. 1194 01:38:49.680 --> 01:38:55.720 This these bandite you are seeing are going after the natural resources. They are 1195 01:38:55.720 --> 01:38:59.680 going to say the gold, the lithion in those zones that isn't bands in, 1196 01:39:00.239 --> 01:39:02.359 So they're coming to your place. They shoot, they checking out people 1197 01:39:02.479 --> 01:39:06.039 to cause fear, so the people run their way because they are few of 1198 01:39:06.119 --> 01:39:13.079 brandies than miners moving have to export the goal and the lithiumnted to see inquired. 1199 01:39:13.119 --> 01:39:17.880 They caught trailers exporting raws and oda. Sand is lithium little is more 1200 01:39:17.920 --> 01:39:24.960 per pound more expensively than crude oil. So the oil solinary and nothing to 1201 01:39:25.239 --> 01:39:28.079 that has been stolen. So this is what you have to do. Bring 1202 01:39:28.359 --> 01:39:31.760 in ted parties. If you can't trust your your your cook eat outside, 1203 01:39:32.239 --> 01:39:36.319 say with Enginia. If you can't trust your armed forces to stop the theft 1204 01:39:36.600 --> 01:39:44.199 of crude oil, then give parents to go and get mercenaries higher and a 1205 01:39:44.439 --> 01:39:48.880 foreign secrety services to give them a simple, simple mandate no crude oil leaves 1206 01:39:49.000 --> 01:39:55.079 the Nigeria delta unless I how many shifts fascinated the parents to sign them is 1207 01:39:55.159 --> 01:39:59.880 bureaucratic, but you get this money. Say with the bandits go in the 1208 01:40:00.520 --> 01:40:04.560 and they eliminate them. If you don't do it, Sibian policies and the 1209 01:40:04.760 --> 01:40:10.800 economic reforms of this present will not succeed. You can't bring down inflation until 1210 01:40:10.800 --> 01:40:14.800 you break down food prices. That's just it, guys, that's just it, 1211 01:40:15.920 --> 01:40:20.880 really okay, James, So hey, guys, I wish we have 1212 01:40:21.159 --> 01:40:26.720 We're gonna can I ask a question. It's like person in Nyeri is tied 1213 01:40:26.800 --> 01:40:30.239 to one percent is tied to food. What about in the US? How 1214 01:40:30.279 --> 01:40:35.239 many percent is tied to food or medicines? It's for this food, food 1215 01:40:35.600 --> 01:40:40.520 and fuels are what you call core with rent in America and what to right, 1216 01:40:40.560 --> 01:40:45.159 what they call core inflation. But it's not fifty one percent. You 1217 01:40:45.199 --> 01:40:47.399 see, the difference is not fifty one percent. It's it's what drives it, 1218 01:40:47.880 --> 01:40:51.039 but it's not as high as fifty one. So in Nigeria, the 1219 01:40:51.239 --> 01:40:57.119 average household spends sixty eight percent of their income on food. That's a problem. 1220 01:40:57.760 --> 01:41:00.359 So we spend a huge and it's one of the highest the world, 1221 01:41:00.399 --> 01:41:03.159 and it shows poverty. The poorer you are, the more money you bend 1222 01:41:03.239 --> 01:41:08.279 on food. Food in America is very very cheap. Food Langer is very 1223 01:41:08.479 --> 01:41:12.399 expensive. So when you get your thousand and nine in Nigeria, you spend 1224 01:41:12.840 --> 01:41:16.840 bulk of that buying Yam, buying Gary. When America you are buying you're 1225 01:41:16.880 --> 01:41:23.560 paying for rent or daycare. That's the difference. So they can search food. 1226 01:41:23.640 --> 01:41:27.199 We can search food. So it's not the is what drives it. 1227 01:41:27.359 --> 01:41:30.880 Per Safe food is a very bad dangerous food is national security? You can 1228 01:41:31.000 --> 01:41:34.680 have in a country where people cannot eat, what would they then do that 1229 01:41:34.720 --> 01:41:40.640 they can eat? The World War TV? Not possible, James, thanks 1230 01:41:40.680 --> 01:41:48.479 for James, go ahead, James, you got the floor, Okay, 1231 01:41:48.600 --> 01:41:53.640 thank you very much? Or do I actually joined in late so I would 1232 01:41:53.920 --> 01:42:00.039 try to listen to the recorded session. Well, I have a question and 1233 01:42:00.319 --> 01:42:03.880 comments, so I'll just give the comment Fase. I think I agree with 1234 01:42:04.079 --> 01:42:10.319 what doctor said when he said he does not trust the people and in the 1235 01:42:10.359 --> 01:42:16.359 phisical side of the entire economic policies. So I think the relationship we have 1236 01:42:16.560 --> 01:42:21.399 with the government, it's one of bad fits. It's not in good fit. 1237 01:42:21.560 --> 01:42:28.159 So we're expecting the very best, as in they will do things that 1238 01:42:28.239 --> 01:42:31.640 are honorable, may just be wasting our time. So because of that, 1239 01:42:31.760 --> 01:42:34.600 I'm going to spook to the second question, and which is how does it 1240 01:42:34.760 --> 01:42:40.520 directly affect me? And how can I help myself or edge myself? So 1241 01:42:40.640 --> 01:42:43.960 I have a question in that regard and the question, by the way, 1242 01:42:44.039 --> 01:42:47.479 thank you very much for I for educating us. Every time I come to 1243 01:42:47.560 --> 01:42:51.399 your pach. There is just something to learn and it's always fact based, 1244 01:42:51.520 --> 01:42:57.920 so thanks. So my question is, so I understand in little of the 1245 01:42:59.279 --> 01:43:05.159 entire requirements for the up for free market. It says there's the willing bayer, 1246 01:43:05.199 --> 01:43:11.319 willing seller, and then there is only kindred entry. You can enter 1247 01:43:11.399 --> 01:43:15.640 the market and leave the market. So maybe I don't know much about the 1248 01:43:15.760 --> 01:43:23.880 policy. But how does the fact that I have USD in gty and then 1249 01:43:24.159 --> 01:43:29.479 we understand now that my USD will be prized at the prevailing rate? Maybe 1250 01:43:29.920 --> 01:43:38.399 nothing. So if I approach Assays Bank and then this isn't coote because it's 1251 01:43:38.479 --> 01:43:43.720 unsotiated, assays Band decides to give me he rates more or less like what 1252 01:43:43.800 --> 01:43:46.159 I would normally do with the black market assays band decides to give me a 1253 01:43:46.279 --> 01:43:51.199 rate that I prefer to what GT wants to give you. But my year 1254 01:43:51.279 --> 01:44:01.560 is this domicidin in GTI bank. So what the fact that there is I 1255 01:44:01.640 --> 01:44:06.520 don't know what is a policy statement to that, but I know that I 1256 01:44:06.600 --> 01:44:13.960 am not able to transform money from my GT don'm miicided the missiy account to 1257 01:44:14.199 --> 01:44:20.239 my assets bandits So normally yeah, it's no so but now with this new 1258 01:44:20.319 --> 01:44:25.159 policy, does it just affect only the I mts and that money that came 1259 01:44:25.199 --> 01:44:28.279 in or I can't even go on with trouble because if I wedraw it, 1260 01:44:28.479 --> 01:44:32.720 it means our go to the black market as normal. It means the news 1261 01:44:32.760 --> 01:44:35.880 policy right, so we're going to get it when all the posits are going 1262 01:44:35.920 --> 01:44:44.800 to be available today. The overall policies, they've removed the insats on governments 1263 01:44:44.840 --> 01:44:47.159 set price. That's really what they've done. These poss are asking a more 1264 01:44:47.359 --> 01:44:50.239 tactical questions, Right, Oh, how can I do it this way? 1265 01:44:50.479 --> 01:44:56.239 We appointed that way? You are right, But overall, the strategic decision 1266 01:44:56.359 --> 01:45:00.359 is that the price movement is going to be based on the marl. If 1267 01:45:00.399 --> 01:45:02.279 you go to your bank, take out your dollers, go to the other 1268 01:45:02.399 --> 01:45:05.960 bank things like I would work. But that's what we're talking about. That 1269 01:45:06.119 --> 01:45:11.640 the overroop all is that there's no price pres a no more black market. 1270 01:45:11.720 --> 01:45:15.319 There can be a black market because it's the same price going forward, right, 1271 01:45:15.640 --> 01:45:19.760 black market, your bank on the market more or less. Okay, 1272 01:45:19.880 --> 01:45:24.680 So I'm just just a fullow up question. So my appeal to you, 1273 01:45:24.880 --> 01:45:30.119 particularly because of your wider riche is if you can start to also push that 1274 01:45:30.319 --> 01:45:38.560 so that if we are truly liberalizing the market so that there's no one relating 1275 01:45:38.600 --> 01:45:42.960 it in terms of fixing the price, then they should also it should be 1276 01:45:43.079 --> 01:45:48.319 part of it that that freedom to enter and freedom to leave should be should 1277 01:45:48.359 --> 01:45:54.399 be truly entrenched or it should be san procans otherwise we'll still have the policy 1278 01:45:54.840 --> 01:45:59.079 in the papers. It's really good. But then when you want to freely 1279 01:45:59.680 --> 01:46:04.880 freely like in comparesing to I understand that it's just inflection because of security, 1280 01:46:05.399 --> 01:46:10.760 not because of monetary issues. Right, you just can't move money around in 1281 01:46:10.880 --> 01:46:14.119 Nigeria, say in America, you can't go to a the American band just 1282 01:46:14.199 --> 01:46:16.560 a to transper money. They'll write reports, they'll write a report, they 1283 01:46:16.600 --> 01:46:19.960 will do it for the right report so it's just it's not it's not all 1284 01:46:20.079 --> 01:46:26.560 monetary or it's just really sometimes you just want to track what's happening. Imagine 1285 01:46:26.600 --> 01:46:30.840 a guy will send nag who wanted to work some guy tell this guy in 1286 01:46:30.119 --> 01:46:33.159 some states, you know. So, like I said, just focus on 1287 01:46:33.199 --> 01:46:36.920 the big picture. Everything can be set today and work today for the big 1288 01:46:38.000 --> 01:46:43.880 picture. The cap is gone, the on prising is gone. Let's walk 1289 01:46:43.920 --> 01:46:45.319 our way down. This was just announced two weeks ago. Right, let's 1290 01:46:45.359 --> 01:46:49.640 see what next to it to break. That's what I will say. Okay, 1291 01:46:49.960 --> 01:46:58.119 thank you very much, big e. All right, good evening everyone. 1292 01:47:00.039 --> 01:47:03.680 I just starting the next few teens a bit. Yes, now is 1293 01:47:03.800 --> 01:47:08.680 the match is nine pm? Okay, all right, cool, good for 1294 01:47:08.800 --> 01:47:13.319 it. Thank you very much, mistercount for all you've been doing. But 1295 01:47:13.439 --> 01:47:15.920 I actually wanted to ask a question to doctor boy. It's no longer. 1296 01:47:16.039 --> 01:47:21.000 He talked about Nanderia can actually pay hundred thousand and as minimum. I wanted 1297 01:47:21.079 --> 01:47:26.199 to hear that conclusion. That's actually why I came on. I don't know, 1298 01:47:26.279 --> 01:47:30.439 but it's no longer. Yeah, I think where he was going is 1299 01:47:30.520 --> 01:47:32.520 that it's not that we can't spay. I think he's talking about the means 1300 01:47:32.600 --> 01:47:36.159 and the capacity to pay. He's saying that we have the capacity in the 1301 01:47:36.279 --> 01:47:41.920 country to generate that wealth, but that it's not being generated because the folks 1302 01:47:42.000 --> 01:47:45.680 in charge are not focusing on that world generation. I don't think it's a 1303 01:47:45.800 --> 01:47:50.640 new argument. You can pay more than a month, It's not impossible. 1304 01:47:50.720 --> 01:47:56.199 It's just we have thought to generate that. So the current question is how 1305 01:47:56.279 --> 01:47:59.920 do we generate our world It's not impossible, but we have to take better, 1306 01:48:00.039 --> 01:48:03.319 the hard decisions and spend the right way. That's that's it. You 1307 01:48:03.399 --> 01:48:06.560 know what is the world generation? You know? Let me give you a 1308 01:48:06.640 --> 01:48:12.199 very Do you live in Legos? Yes? I do you know if you 1309 01:48:12.279 --> 01:48:15.239 go to a jata or the two ky to? Well, how do how 1310 01:48:15.319 --> 01:48:18.319 do plantings come to Legos? Do you know I've ever been to a jota 1311 01:48:18.439 --> 01:48:26.039 kay to my twelve? Or bring those plantings from the precisely delta cook? 1312 01:48:27.000 --> 01:48:29.520 Or have you noted the cars they bring it in with? Have not seed? 1313 01:48:29.560 --> 01:48:32.399 The cars they bring it in? Some of them they come with the 1314 01:48:32.560 --> 01:48:42.039 nine one one? Actually I did that business. Yes, Ricketty stations were 1315 01:48:42.119 --> 01:48:46.199 gone. They impile the planting and markets man will come from. Yes they 1316 01:48:46.239 --> 01:48:50.880 do that. Okay, So imagine if imagine if they road to the villages 1317 01:48:50.960 --> 01:48:56.880 were all tired and that market to man could call an uber uber nine one 1318 01:48:56.960 --> 01:49:00.560 one. So on her phone, you'll call uber nine one one uber overcome, 1319 01:49:00.079 --> 01:49:04.039 pack up plantings, pay her cash there and then take the plantings to 1320 01:49:04.399 --> 01:49:10.960 one factory in Legals that will sliced baggage in bags and sell the planting. 1321 01:49:11.039 --> 01:49:15.560 Do my guests have money they to day factory employs people. The people who 1322 01:49:15.560 --> 01:49:17.720 are their jobs to cut planting are putting it in the bag. They go 1323 01:49:17.800 --> 01:49:23.760 to a bank boroughman to build more factors in Delta in Kirke selling this mass 1324 01:49:23.800 --> 01:49:28.199 planting all across Nigeria. Some more guy takes the plantings and explot it to 1325 01:49:28.279 --> 01:49:31.479 Canada. Dist it starts to get dollars from that has small family and dedkota. 1326 01:49:32.000 --> 01:49:35.960 What do you think is happening here? Creation of wealth from the same 1327 01:49:36.039 --> 01:49:41.399 planting. If you go to that legos that you see the recreating women family 1328 01:49:41.439 --> 01:49:45.760 in Nigeria is seen as a poor occupation. Now you are not going to 1329 01:49:45.880 --> 01:49:50.680 go into farming until you change the picture of farming. Whild us doing fintech 1330 01:49:50.720 --> 01:49:54.560 today because it's seen that if you do fintech, you can make money. 1331 01:49:54.600 --> 01:49:58.439 If you could, you make money while us doing banking. If you do 1332 01:49:58.600 --> 01:50:01.640 banking, you make money. Anywhere do you see money they go there? 1333 01:50:01.720 --> 01:50:04.479 Why are they doing medicine or lot in those days? Because you do those 1334 01:50:04.560 --> 01:50:09.560 things, you make money. Nobody's go to farming. Familysair is not what 1335 01:50:09.840 --> 01:50:12.760 they're doing. Family in Ohio, I go to farms in America. They 1336 01:50:12.800 --> 01:50:15.039 don't farm where we're farm. They don't use cotloss at whole. And it's 1337 01:50:15.119 --> 01:50:21.000 one family with farm hectas of land and export com We'll do the same family 1338 01:50:21.039 --> 01:50:26.600 here. So until you turn that woman, we tell ourselves to farm hectors 1339 01:50:26.920 --> 01:50:30.720 of planting. But you've got to make it easy for her. She can 1340 01:50:30.880 --> 01:50:34.520 hire a tractor, she can plant and tend stems that are given to her 1341 01:50:34.760 --> 01:50:41.720 that are basically past free. She can do her fertilizers, VI orderant on 1342 01:50:41.800 --> 01:50:45.079 her phone. She can haver best those things, put them on a truck 1343 01:50:45.359 --> 01:50:48.119 and export it from her family and her veliculta. That's how you create world. 1344 01:50:48.159 --> 01:50:53.399 It's not good to be will create work by giving her a pep or 1345 01:50:53.479 --> 01:50:56.119 doing money, or that you will lend not to cret in five thous You 1346 01:50:56.279 --> 01:51:00.560 have to sit down and say how can we make a plant pain farmer in 1347 01:51:00.680 --> 01:51:05.000 our bel guttera export planting ships to Canada. If you can walk back from 1348 01:51:05.039 --> 01:51:11.199 that answer from Canada to Nagos, back to her factory or her family in 1349 01:51:11.359 --> 01:51:15.000 bel Gutta, you've created that world and do the same for sorghum. Do 1350 01:51:15.119 --> 01:51:17.680 the same for corn, do the same for wheat, for cassava, walk 1351 01:51:17.800 --> 01:51:23.680 back. How can farmers be do cash cropping? Doctors? Doctors always talk 1352 01:51:23.680 --> 01:51:27.520 about cash cropping, dwarf palms and all that. It's talk about it a 1353 01:51:27.560 --> 01:51:31.119 few weeks ago. If you can't turn farming to everyone has a piece of 1354 01:51:31.399 --> 01:51:35.159 their village, they're planting the cash crops. You have someone that will buy 1355 01:51:35.239 --> 01:51:40.119 those cash crops and export it out of the country. The next money is 1356 01:51:40.319 --> 01:51:43.680 you make money that everyone's going to go to family. Family will become like 1357 01:51:44.000 --> 01:51:46.479 colding. You see kids living school to go to family. Let me farm 1358 01:51:46.560 --> 01:51:51.399 my my dwarf coconut treat because I will to export this whole content and make 1359 01:51:51.479 --> 01:51:55.920 money. That's what will happen. That's what will happen, and that's wealth 1360 01:51:56.039 --> 01:52:00.560 creation. It's not this big lots of power point lies that this really you've 1361 01:52:00.640 --> 01:52:05.880 got to be deliberate about moving from intentions to outcomes. That's just it really 1362 01:52:08.560 --> 01:52:11.000 Okay, thank you so much for doing more light. Well, this is 1363 01:52:11.079 --> 01:52:17.479 my second question around this, basically around the new Sybyan policy. This I 1364 01:52:17.560 --> 01:52:24.359 wanted to you know, they are FinTechs presently that created or probably their solutions 1365 01:52:24.760 --> 01:52:30.399 for students are school a broad instead of instead of using our cards and you're 1366 01:52:30.399 --> 01:52:34.000 not able to use it before now defom transactions, dollar transactions, they has 1367 01:52:34.119 --> 01:52:39.279 ceased to do these things. They're their own platform or one in an order 1368 01:52:39.680 --> 01:52:44.319 was actually easier fit for them as regards this new cash policy around this, 1369 01:52:44.600 --> 01:52:50.960 since people can Okay, so I'll give you an listense. The havere FinTechs 1370 01:52:51.039 --> 01:53:00.359 presently before before now no thats use their cards international transaction by Alan do stuff 1371 01:53:00.560 --> 01:53:03.479 on their own. So some years ago, I think two years ago, 1372 01:53:03.760 --> 01:53:11.880 the Sybian stopped that and FinTechs came up. It's that assistant Durians do these 1373 01:53:11.920 --> 01:53:15.880 transactions abroad their their own system. Now with this new policy, new system, 1374 01:53:16.000 --> 01:53:21.479 this new policy, whereby is there really a consequence for those pintech is 1375 01:53:21.520 --> 01:53:30.279 their business. I don't really understand what's there for them the continue evolve or 1376 01:53:30.439 --> 01:53:34.359 die before the fintex. The FinTechs came because of the policy. That's why 1377 01:53:34.399 --> 01:53:39.359 they had the FinTechs because the policy came. So fin techs came to feel 1378 01:53:39.439 --> 01:53:43.239 a need that the policy costs. So if you don't evolve, you'll die, 1379 01:53:43.399 --> 01:53:45.199 you know. So right now you're going to see new lots of changes. 1380 01:53:45.279 --> 01:53:54.399 Now noted that sibling has increased the capital for IMTLS internation normally transfers from 1381 01:53:54.439 --> 01:53:58.039 about five hundred thousand to about ten million. Why because there got to be 1382 01:53:58.119 --> 01:54:00.720 lots of folks I want to come in here and do that business. So 1383 01:54:00.960 --> 01:54:03.800 if you don't evolve, you will die. So the company is going to 1384 01:54:03.840 --> 01:54:10.239 have to now evolve to take advantage of this new policy. It's a new 1385 01:54:10.359 --> 01:54:13.399 dawn, right, So the money's gonna come in. But like doctor has 1386 01:54:13.399 --> 01:54:15.520 said, this money is going to be coming in for the short term. 1387 01:54:15.039 --> 01:54:21.159 That's FPI for foreign direct pert. Foreign portfolio investment is going to come in 1388 01:54:21.720 --> 01:54:29.199 faster than foreign direct investments. If that foreign portfolio comes in and it finds 1389 01:54:29.199 --> 01:54:30.880 that it is a very very good place to stay, it will stay. 1390 01:54:31.560 --> 01:54:35.920 Then the FDI will come after it. So what I mean is that people 1391 01:54:35.960 --> 01:54:43.119 will first of all invest their money in Nigeria bonds faster and easier before they 1392 01:54:43.159 --> 01:54:45.920 will come and build a factory in Nigeria. Follow companies that live in Nigeria 1393 01:54:46.000 --> 01:54:51.119 will come back if the macro is fixed. Ex changage is just one macro. 1394 01:54:51.800 --> 01:54:57.279 It's just one macro. Thank you, thank you to appreciate you. 1395 01:54:57.680 --> 01:55:10.079 Yeah, look Toba Island, go for it to buy your expoy ib profit 1396 01:55:10.239 --> 01:55:14.079 profer care about your head is up? Yeah, thank you can't do so, 1397 01:55:14.279 --> 01:55:16.920 you know, or when the man was talking on dorma accounts, I 1398 01:55:17.000 --> 01:55:21.439 don't think this policy will stop you from taking dollars from the dorm account because 1399 01:55:21.560 --> 01:55:27.159 you're paid in dollar, so you can actually we draw dollar from now. 1400 01:55:27.359 --> 01:55:31.239 So definitely, if you have a better rates that you want to sell to 1401 01:55:31.359 --> 01:55:34.079 an error in the bank, you can go ahead and do that. But 1402 01:55:34.319 --> 01:55:39.319 the problem with this is we still experience it's where you go. Even for 1403 01:55:39.359 --> 01:55:44.239 an Iland, there is no you can withdraw that much. So in the 1404 01:55:44.319 --> 01:55:46.600 sense that the band don't have enough, so the same thing might still be 1405 01:55:46.680 --> 01:55:49.800 happening, then my start using those anticks to sell. Okay, we don't 1406 01:55:49.960 --> 01:55:55.239 we can't pay more than thousand dollars now because we don't have so much probably. 1407 01:55:55.319 --> 01:55:58.119 I mean, this is just what I think banks could do. But 1408 01:55:58.199 --> 01:56:01.039 you can we draw dollar from the dorma account for now, there there's no 1409 01:56:01.199 --> 01:56:05.239 policy on them account. I was going to talk about one other things, 1410 01:56:06.039 --> 01:56:09.560 but I can't remember that now. When I come by me, when I 1411 01:56:09.800 --> 01:56:15.119 remember asking, all right, super and I've got you Jolf as well, 1412 01:56:15.680 --> 01:56:19.079 I go and just the quick ones. I don't think. I don't think 1413 01:56:19.640 --> 01:56:23.560 I turn from them to dorm, but I e from back to back. 1414 01:56:23.560 --> 01:56:26.520 I don't think I go to Access bank and say move my dorm from Access 1415 01:56:26.560 --> 01:56:29.079 back to treaty back. I don't think you can. You can withdraw from 1416 01:56:29.079 --> 01:56:33.680 Access bank in cash mostly you can transform back to bank. I don't think 1417 01:56:33.720 --> 01:56:38.199 you can not yet, I don't think you can. That's what he's saying. 1418 01:56:38.239 --> 01:56:44.479 Yeah, okay, I got okay, just just to truss what you 1419 01:56:45.119 --> 01:56:48.640 were speaking on earlier. But I'm not going to give real life personal example. 1420 01:56:49.479 --> 01:56:53.960 You know when when they said this banded tripting, that's it. People 1421 01:56:55.439 --> 01:57:01.319 don't understand the actually impact in terms of food production. Right. I have 1422 01:57:01.439 --> 01:57:05.720 been in the few in terms of commercial skill production for years now, and 1423 01:57:06.079 --> 01:57:10.279 I can tell you that as of last year, we have to take a 1424 01:57:10.319 --> 01:57:14.319 painful decision to withdraw all of our activities from the field in terms of commercial 1425 01:57:14.960 --> 01:57:18.439 you know, crop production, and it is basically because of insecurity. So 1426 01:57:19.119 --> 01:57:26.479 and so many other lage scale producers have taken that decision as well, because 1427 01:57:27.239 --> 01:57:34.079 you can't produce. You it's either you if you can't. The risk seems 1428 01:57:34.119 --> 01:57:38.279 to be getting higher, you know, every day. We got to your 1429 01:57:38.319 --> 01:57:41.079 point, okay, we have to stop going to the field directly. We 1430 01:57:41.159 --> 01:57:46.560 started using regional managers and all that. Then after a while the athert was 1431 01:57:46.560 --> 01:57:49.840 also threatened. Then we have to down skill to local and we get those 1432 01:57:49.920 --> 01:57:56.680 and after a while those local and get those also became So as we're speaking, 1433 01:57:56.800 --> 01:58:00.680 it's no longer sustainable to do you know, large skill, you know 1434 01:58:00.880 --> 01:58:04.760 aggregation, you know, and I can tell you that so many of that 1435 01:58:05.479 --> 01:58:09.479 you know, large scale producers are also you know, doing the same. 1436 01:58:09.520 --> 01:58:11.800 They are taking a break to see, ok let us, we will see 1437 01:58:12.199 --> 01:58:16.119 what is going to happen, legocy if the government is going to actually take 1438 01:58:16.119 --> 01:58:23.479 any decision. So you can imagine the impact this is having the you know, 1439 01:58:23.760 --> 01:58:28.600 these small scale producers who are we give some small micro preduce to be 1440 01:58:28.680 --> 01:58:32.720 able to fund their small scale production. So it's it's getting as bad as 1441 01:58:32.800 --> 01:58:39.079 that. So if they don't do anything, it is actually going to get 1442 01:58:39.199 --> 01:58:43.520 worse. A bubble risers of today's around seven seven thousands, it will likely 1443 01:58:43.560 --> 01:58:48.680 get to run togital if care is not taking So I had the President talking 1444 01:58:48.680 --> 01:58:56.279 about possible opening up the broders for importation. I feel that may be the 1445 01:58:56.399 --> 01:59:01.960 best route to take if they really care to, you know, to reduce 1446 01:59:02.159 --> 01:59:06.159 the current you know, economic impact, that may be the best way to 1447 01:59:06.279 --> 01:59:11.159 go. And if they don't do that and then keep on locking down the 1448 01:59:11.239 --> 01:59:15.119 borders and they keep on making the difficult that people can't even okay, this 1449 01:59:15.239 --> 01:59:18.119 is any families in most of the people have spoken to say they're not going 1450 01:59:18.159 --> 01:59:23.840 back. They are not funding any any outgrow asking. They're not funding any 1451 01:59:24.239 --> 01:59:27.680 outgrow projects this year. They are holding on their resources. Somebody have already 1452 01:59:27.720 --> 01:59:32.760 combined BASSA, but they are not making any investment in agriculture until the security 1453 01:59:32.880 --> 01:59:38.560 issue is solved. So even if you do your commercial scape production, how 1454 01:59:38.600 --> 01:59:40.880 are you going to aggregate because you have to do there. You have to 1455 01:59:40.920 --> 01:59:43.560 send people then to be able to do that, and you can't go to 1456 01:59:43.720 --> 01:59:46.960 those locations because there is no airport directly at the family feuds. Even if 1457 01:59:47.000 --> 01:59:48.920 you want to say you want to fly, so you have to still go 1458 01:59:49.079 --> 01:59:54.319 by road, and you can't go by road because the the secret situation is 1459 01:59:54.439 --> 01:59:57.640 high and currently you can't take stay, your family, can'tables stay your feel 1460 01:59:57.960 --> 02:00:00.720 to do operations because you you will be going to target after a while. 1461 02:00:00.800 --> 02:00:05.680 I was mouggled out of a community while I was almost kidnapped. Just a 1462 02:00:05.760 --> 02:00:10.640 personal relationship I have with the local ama. That was how I was smuggled 1463 02:00:10.680 --> 02:00:13.600 at in the evening, smuggled out of the community. Otherwise I would have 1464 02:00:13.640 --> 02:00:16.880 been kidnapped by that same night. So you can imagine that kind of trauma 1465 02:00:16.920 --> 02:00:20.960 and that kind of impact. So if they don't handlings, I don't see 1466 02:00:21.880 --> 02:00:27.720 the issue of food inflation coming down a whole state example, if you sit 1467 02:00:27.800 --> 02:00:30.079 down to let them two point by person and same thing with so many of 1468 02:00:30.159 --> 02:00:35.560 that. You know, light production zones are not there and it is really 1469 02:00:35.800 --> 02:00:40.119 that serious. But we have been on that reported. You know, the 1470 02:00:40.239 --> 02:00:43.920 reporting, this kind of reportance seems to have remise. I don't know that 1471 02:00:44.039 --> 02:00:46.760 because of the policity, you know, in terms of the media policies and 1472 02:00:46.960 --> 02:00:51.800 order but if we really know exactly what is happening, maybe we can take 1473 02:00:51.840 --> 02:00:58.119 what I have said their pursu so as seen news articles that said that the 1474 02:00:59.079 --> 02:01:01.760 administration and know it was the past I'd made mister Lai Mohammad, I'm not 1475 02:01:01.800 --> 02:01:09.239 sure that's continued now where they were asked not to report banditry and large scale 1476 02:01:09.319 --> 02:01:13.079 attacks on the military in the hinterland. I saw that report. I'm not 1477 02:01:13.920 --> 02:01:17.199 got verified, but I know there was a memo back then that says don't 1478 02:01:17.279 --> 02:01:20.760 reports activities and people dont understand what's legaling. Like you said, the people 1479 02:01:20.840 --> 02:01:26.600 in Legos in leaving the bubbles, so they don't understand what's going on in 1480 02:01:26.720 --> 02:01:30.119 Nigila that the farms you can't go. I mean people get shocked. Oh 1481 02:01:30.239 --> 02:01:34.359 wow, people were killed in Plateau States and they are they are shocked. 1482 02:01:34.920 --> 02:01:40.600 But the plap Plateau have been going through this, you know, on an 1483 02:01:40.680 --> 02:01:44.760 almost daily basis. It just saw it in that in the news because that 1484 02:01:44.960 --> 02:01:48.760 was a lot of people that passed away at one time. But they've been 1485 02:01:48.840 --> 02:01:54.079 going through these issues day in day out, month in month out. And 1486 02:01:54.279 --> 02:01:57.479 if if you wonder if this guy is are invisible, they seem to be 1487 02:01:57.600 --> 02:02:02.039 in my mind, a grand plan to just populate that entire place so access 1488 02:02:02.079 --> 02:02:05.039 can be gone to romancecas. It's the same temper that was used in the 1489 02:02:05.119 --> 02:02:11.720 Congo when the Congo's sending militias to just do a lot of killings and all 1490 02:02:11.840 --> 02:02:15.560 that, so the human plasent can leave. Then you can mind diamonds, 1491 02:02:15.600 --> 02:02:17.479 you can mind cobalt and all. That is the same thing happening here. 1492 02:02:18.079 --> 02:02:21.840 And if you don't take control of your own internal security, you're not going 1493 02:02:21.920 --> 02:02:26.039 to have a country. So the president, when I'm trying to pull it 1494 02:02:26.159 --> 02:02:29.000 here, I don't tell him. You know, if your army can't do 1495 02:02:29.119 --> 02:02:33.840 it, get foreigners to do it. Forget all this pride national security today? 1496 02:02:34.000 --> 02:02:38.880 Is there no national security today? There is. So if they can't 1497 02:02:38.880 --> 02:02:41.520 do it, okay, give them time, give them the money. If 1498 02:02:41.560 --> 02:02:44.800 they can't do it, get someone else to do it. It's your name, 1499 02:02:45.600 --> 02:02:48.279 it's your statistics that's going to be on the record. But Harry sat 1500 02:02:48.399 --> 02:02:57.640 down, He's from Catsina. He's sat down and for eight years insecurity consumed 1501 02:02:58.119 --> 02:03:02.840 that state and the entire he's from there, his entire security apparatus. We 1502 02:03:02.920 --> 02:03:08.880 are from one part of the country. The entire sec he spends money from 1503 02:03:08.880 --> 02:03:13.199 the ECA. He brought even American elements that were not given to Good Lord 1504 02:03:13.319 --> 02:03:18.039 in the term were proved for him and still discontinued, did not continue. 1505 02:03:18.479 --> 02:03:23.920 So I mean, you know, so it's amazing, it's amazing that this 1506 02:03:24.079 --> 02:03:30.039 is going on. And are similarly not aware of the economic impact of insecurity 1507 02:03:30.119 --> 02:03:32.279 in the food growing areas. Reef, Reef, isn't your thought of my 1508 02:03:32.359 --> 02:03:42.399 friend, hid reef? Are you there real insights? Going once? Going 1509 02:03:42.520 --> 02:03:50.640 twice? Doctor added a new world? I do really think and I can 1510 02:03:50.720 --> 02:03:55.119 hear you, so go ahead, yeah, I really think. Thanks so 1511 02:03:55.279 --> 02:03:58.920 much for this privilege. The other speaker, I will say something about that's 1512 02:03:59.039 --> 02:04:02.960 just an imputed about transferring dollar from one bank to another. There are actually 1513 02:04:03.000 --> 02:04:09.039 two ways you can transfer from one bank to another within the same Nigeria, 1514 02:04:09.199 --> 02:04:12.800 as in from the same bank national banks to another. In terms of FC 1515 02:04:12.920 --> 02:04:15.680 one, you can actually route it to effect which means it has to go 1516 02:04:15.840 --> 02:04:23.319 through the intermiliary bank and come back. So the charge is still no tventy 1517 02:04:23.359 --> 02:04:29.000 five dollars fixed stars and zero points five of the amount a transparring so that 1518 02:04:29.159 --> 02:04:33.439 one works. But recently the IE window is another privile leg for you to 1519 02:04:33.520 --> 02:04:38.159 transfer, So just tell your bank that you need to move money, so 1520 02:04:38.239 --> 02:04:41.560 they just be it for you. I think I know somebody that didn't. 1521 02:04:41.640 --> 02:04:45.399 Last November, they move money from u B to ACCESS so it went through 1522 02:04:45.439 --> 02:04:48.640 an IE. I think those are the two ways and it's even faster. 1523 02:04:48.800 --> 02:04:53.600 But you know, for you to do something on i E. Not or 1524 02:04:54.800 --> 02:05:00.399 not everybody's I can assess IE window. You must basically be an important You 1525 02:05:00.479 --> 02:05:03.760 must have some certificate. You must have it from m you must have your 1526 02:05:05.800 --> 02:05:12.640 your tax layers certificate. You understand not all are not everybody is qualified to 1527 02:05:12.920 --> 02:05:17.079 do transaction on her in window. But for normal fifty you can actually do 1528 02:05:17.199 --> 02:05:21.159 that. Doesn't so yes, said, if I have dollars in Uba in 1529 02:05:21.279 --> 02:05:26.560 my dorm account in my dorm accounts, it's nice. Yes, year from 1530 02:05:26.840 --> 02:05:31.239 Uba from my bank using that healty and just paid that charge. Yes, 1531 02:05:31.560 --> 02:05:34.960 but it mustn't be a personal account. It must be a company account. 1532 02:05:35.159 --> 02:05:40.720 It's not personal account. So only corporate can do this, not personal, 1533 02:05:41.600 --> 02:05:45.439 not personal. For you to do transaction on her in window, it must 1534 02:05:45.479 --> 02:05:48.399 big business transaction. It's must you must have gone through a lot of process. 1535 02:05:48.920 --> 02:05:53.319 So a lot of people do that, like in a pattern. Now, 1536 02:05:53.760 --> 02:05:58.800 most people that pay through a City bank, they do it with fifty 1537 02:05:59.079 --> 02:06:02.279 and they're okay with judge in upper par region, you know, most custom 1538 02:06:02.399 --> 02:06:09.760 duty payment and most payment to max Line, most payment to MSc, most 1539 02:06:09.800 --> 02:06:15.880 payment to storm shipping company. City bank and City Bank don't collect cash from 1540 02:06:15.960 --> 02:06:20.399 them, so they get your cash paid into their bank and do it fifty. 1541 02:06:20.640 --> 02:06:25.359 It's anybody can do that. You know, all agents in an upper 1542 02:06:25.439 --> 02:06:30.800 partner they're not they're not registered. So with your b L and your invoice 1543 02:06:30.840 --> 02:06:34.600 on the bank, you can easily transpire that cash and it mustn't be more 1544 02:06:34.640 --> 02:06:40.079 than thanky months. Thank you okay, good good, good, good insight 1545 02:06:40.119 --> 02:06:43.079 there, So we have to be corporate. You can thank you. So 1546 02:06:43.239 --> 02:06:45.199 if you qualify for that, talk to your banker. Thanks for that. 1547 02:06:45.720 --> 02:06:56.399 Inside there, let me do ken ken what's up man, Kenny Kenya, 1548 02:06:57.159 --> 02:07:00.960 thanks again for this opportunity. Thanks for to do and be living too. 1549 02:07:01.239 --> 02:07:09.560 Everyone again. Yet another great session and just something I would like to say 1550 02:07:09.640 --> 02:07:15.600 because you know, this year's spaces is quite popular and I know representative of 1551 02:07:15.680 --> 02:07:19.199 the government, they're here and they're listening and we can say a lot of 1552 02:07:19.319 --> 02:07:26.079 efforts on the monetary side and the incipient governor. I means there's been a 1553 02:07:26.279 --> 02:07:36.680 marriage of is a flood of communics and let the policies coming out and we 1554 02:07:36.920 --> 02:07:42.800 and we are. We've seen that the treasury rebill rates the interest rates as 1555 02:07:43.039 --> 02:07:46.319 has jumped from about in thirteen percent to nineteen percent right now, which which 1556 02:07:46.359 --> 02:07:50.279 is a good indication because I remember there was a time in this country when 1557 02:07:50.920 --> 02:07:57.520 treasure reviews was around around that amount in the seventeen around eighteen percent. Most 1558 02:07:57.560 --> 02:08:03.319 people preferred to invest in NIRA. You know, it's quite unfortunate that we 1559 02:08:03.520 --> 02:08:07.239 got to an era where all you have to do was to buy dollar and 1560 02:08:07.439 --> 02:08:11.439 wait for one month and then you will get almost thirty to fifty percent really 1561 02:08:11.439 --> 02:08:18.039 from without doing anything. It's unbelievable. And we saw that huge spread that 1562 02:08:18.079 --> 02:08:24.800 we never had before between official rates and the parallels. You know, smart 1563 02:08:24.840 --> 02:08:28.920 politicians that I won't call them smart, prebious politicians saw it as an opportunity 1564 02:08:28.439 --> 02:08:35.279 to include legally loot the country. If I have I put that legally incluved, 1565 02:08:35.359 --> 02:08:37.840 because all they needed to do was do are locate dollar to themselves. 1566 02:08:39.560 --> 02:08:43.840 I mean, I know somebody who got a BDC license who had no office 1567 02:08:45.239 --> 02:08:50.079 who had no shop just got a BDC license. Wow, because you know 1568 02:08:50.479 --> 02:08:56.359 the ciby and government. The number of DC licenses just skyrocketed over because every 1569 02:08:56.399 --> 02:09:00.920 week they got ten thousand dollars and then all you needed to do take the 1570 02:09:01.119 --> 02:09:05.039 officiality good to the parallel market and every week unique more than a million, 1571 02:09:05.159 --> 02:09:13.760 two million every week absolutely doing nothing. I'm happy again to state that we 1572 02:09:13.840 --> 02:09:16.600 are seeing that unification. I don't know, it looks like a full a 1573 02:09:16.720 --> 02:09:22.760 full brieflo of then right now though they've not a disciplion, has not command 1574 02:09:22.800 --> 02:09:26.199 to say that, but that's what it's looking like, and that really relegates 1575 02:09:26.239 --> 02:09:31.000 the the the the role of the businesses. Budices have been so powerful in 1576 02:09:31.119 --> 02:09:33.880 this country. We all know, we all know what the businesses have been 1577 02:09:33.920 --> 02:09:37.640 doing, but they be so powerful and that realigates them, and that brings 1578 02:09:39.079 --> 02:09:43.239 efforts into a ways of posibilities in the back. The banks should be the 1579 02:09:43.319 --> 02:09:48.960 one courting according to willing buyer and willing to tell our model. I'm happy 1580 02:09:48.000 --> 02:09:52.359 about that all these things are happening on the monetary side, but on the 1581 02:09:52.399 --> 02:09:58.199 physical side we are not seeing so much happening yet these states. Every month 1582 02:09:58.239 --> 02:10:03.439 we are seeing the allocations to the states, jumping and hitting records and records 1583 02:10:03.439 --> 02:10:07.079 and records, and then we're having minimum which I don't call it minimum move. 1584 02:10:07.159 --> 02:10:11.800 I call it it's an injustice what we have as minimum between something duller 1585 02:10:13.000 --> 02:10:18.119 as that today as minimum with in Nigeria and these people expect that people who 1586 02:10:18.199 --> 02:10:24.319 continue to be calm like this. Uh, the key for staff permits me 1587 02:10:24.399 --> 02:10:30.600 to say stated something or you know, very irresponsible saying they're going to regolate 1588 02:10:30.680 --> 02:10:33.880 social media. That's not what we should be dealing with right now. We 1589 02:10:33.920 --> 02:10:37.720 should be looking at how to bring ldis. Yes, fpis will come. 1590 02:10:37.199 --> 02:10:43.399 Fpis will come in the next few weeks because those are investment that doesn't have 1591 02:10:43.520 --> 02:10:48.479 any direct link to your how how secure your country is. But for LDRs 1592 02:10:48.560 --> 02:10:50.239 to come, the country want be secured. And if the country is not 1593 02:10:50.359 --> 02:10:54.600 secured, how do we five food inflation money. I don't see any policy 1594 02:10:54.680 --> 02:10:58.840 that is realistic that that is going to address insecurity as they look how governmental 1595 02:11:00.399 --> 02:11:05.720 not not the army now, not army, not not NCD and SDC. 1596 02:11:05.119 --> 02:11:11.239 Fighting you know in security is superficionally we need to fight security at the local 1597 02:11:11.399 --> 02:11:13.560 government. I don't care what they call it, whether it's the police or 1598 02:11:13.600 --> 02:11:18.760 community police, it doesn't matter. Whatever it takes to ensure that I have 1599 02:11:18.920 --> 02:11:22.960 boots on the ground in all local governments in this country where everybody, everybody 1600 02:11:24.119 --> 02:11:30.720 knows who who is who in their community, and you have a a kind 1601 02:11:30.800 --> 02:11:33.960 of security and to tell you that it is backed by law, that is 1602 02:11:33.039 --> 02:11:37.319 backed by low. This system already exists. All they need is just to 1603 02:11:37.399 --> 02:11:41.479 formalize them. I'm not who is there different governors that's setting up some kind 1604 02:11:41.520 --> 02:11:46.399 of digitality. All they need is to equip these people, get more locations 1605 02:11:46.479 --> 02:11:52.039 to the state so that the states can have these people properly registered and and 1606 02:11:52.279 --> 02:11:56.359 and and be able to secure our firms. We can fight full definition if 1607 02:11:56.439 --> 02:12:01.439 we don't secure you. People are here, people are listening. This is 1608 02:12:01.479 --> 02:12:05.039 what you should be doing, not regulating social media. If you do the 1609 02:12:05.159 --> 02:12:09.520 right thing, your people who come appraising why to doing well? To be 1610 02:12:09.840 --> 02:12:13.319 and Angelia's are praising them, Bonna boy, all of them, they're doing 1611 02:12:13.399 --> 02:12:16.439 well and Angelia's are praising them. Why are politicians not learning from these people? 1612 02:12:18.199 --> 02:12:20.079 You keep doing the wrong thing and you want to cruise our mouth. 1613 02:12:20.119 --> 02:12:26.319 You don't want those to talk. Yeah stuff, supper stuff. They should 1614 02:12:26.800 --> 02:12:31.840 they should They should be paradise and focus on the right thing again. Thank 1615 02:12:31.880 --> 02:12:39.000 you again at that social media whatever whatever they do. That one is that 1616 02:12:43.960 --> 02:12:48.279 the guys saw my tweet. The guys saw my tweet about that social media 1617 02:12:48.439 --> 02:12:56.520 thing yesterday. He told me that should Nigeria try it again, that starling 1618 02:12:56.640 --> 02:13:01.439 could be provided all across Nigeria. Nigeria's to learn into the internet to tweet 1619 02:13:01.920 --> 02:13:07.199 that. Should Nigeria try to do any or whatever, shut off up the 1620 02:13:07.239 --> 02:13:09.439 internet or whatever you set internet and instance social media. I said to you 1621 02:13:09.560 --> 02:13:13.560 know that tried again that starting, could we provide a lot all across Nigeria 1622 02:13:13.760 --> 02:13:20.720 for free for Nigerians to communicate. So don't look for an ongled that alone. 1623 02:13:20.199 --> 02:13:24.680 There is nothing to be regulated in social media. Regulate rather lead laws 1624 02:13:24.840 --> 02:13:30.920 on the live belt and deformation. Go to the court and make those laws 1625 02:13:31.039 --> 02:13:35.960 simpler and easier. So when you come social media and say something is wrong, 1626 02:13:35.640 --> 02:13:39.920 I can easily sue them. That's live beelt, deformation and all that. 1627 02:13:39.479 --> 02:13:43.640 Leave the regulation. We know what regulation means. You want to make 1628 02:13:43.720 --> 02:13:48.199 it that before you post you can. You have to clay through governments a 1629 02:13:48.439 --> 02:13:52.720 sense or you can criticize policy. What I'm talking about criticism. You should 1630 02:13:52.760 --> 02:13:56.479 look for criticism. That's why companies have complaints. Book. If you go 1631 02:13:56.720 --> 02:14:01.760 to Google, don't you see them saying complaintly or test at Peter? Why 1632 02:14:01.880 --> 02:14:05.560 you didn't want you to complain? So they can learn what's going on and 1633 02:14:05.760 --> 02:14:07.600 then they can come back with a better product. If you say, only 1634 02:14:07.680 --> 02:14:11.520 praise me, the Bible says, be wary of you of men that only 1635 02:14:11.600 --> 02:14:15.560 praise. Be wary when everyone speaks good of you. And what the Bible 1636 02:14:15.600 --> 02:14:18.399 says, if everyone's praising you, have no what the doers is good or 1637 02:14:18.439 --> 02:14:24.000 bad. The last Presence famous words were, I was not aware people just 1638 02:14:24.119 --> 02:14:26.720 like that him. But what if we really wasn't aware. What if they 1639 02:14:26.800 --> 02:14:30.359 told him, Oh, everybody loves you, everybody loves you. You are 1640 02:14:30.439 --> 02:14:33.119 just so good, so much good. You want to break that bubble and 1641 02:14:33.520 --> 02:14:37.039 touch people and say, hey, what is going on? So you hear 1642 02:14:37.159 --> 02:14:41.079 what's going on? Right? If you don't, you live in a budget, 1643 02:14:41.199 --> 02:14:45.600 in your own magnificent bubble. And I think that Gary is still at 1644 02:14:45.640 --> 02:14:48.000 tenk coble. That's what you think. The Gary is still tenk couble. 1645 02:14:48.279 --> 02:14:52.279 That's what That's what you're assume. Doc Orpierre. If you're back now, 1646 02:14:52.399 --> 02:14:58.079 so let's see if you're w Let's go ahead, sir. In fact, 1647 02:14:58.199 --> 02:15:03.079 the last speaker, the county last peaker, turns some points that we really 1648 02:15:03.159 --> 02:15:07.520 need to look at if we I tally want to fight inflation and stop de 1649 02:15:07.600 --> 02:15:13.600 caloping food community inflection in the market. This is family season. That is 1650 02:15:13.640 --> 02:15:18.479 why I get angry and I get worry when I hear those governments say that 1651 02:15:18.479 --> 02:15:22.479 they're doing this when they're doing nothing. The best time to put farmers back 1652 02:15:22.520 --> 02:15:28.359 to work is now. And to put farmers back to work, anybody depends 1653 02:15:28.359 --> 02:15:33.760 on the police and the army and the conventional federal secuity agencies is just wasting 1654 02:15:33.840 --> 02:15:37.199 his time. Over the last nine years, we have squammed up with the 1655 02:15:37.359 --> 02:15:43.840 nine billion dollars important armor of five di jets, and they and they and 1656 02:15:45.000 --> 02:15:52.199 the attack helicopters and whatever. Yes, the bandits and nappers keeps on growing 1657 02:15:52.520 --> 02:15:54.840 in monstrosity and in the let me tell what is happening. You know, 1658 02:15:54.880 --> 02:16:00.239 I told you what. I just the government and I grow back in a 1659 02:16:00.520 --> 02:16:05.279 half hea. I particularly worked out most of my members there in printed into 1660 02:16:05.359 --> 02:16:09.680 one at the time. The bandits we are attacking them, they even threatened 1661 02:16:09.720 --> 02:16:13.239 to kill them and all the stuff. So basically abaaa seventeen people they had 1662 02:16:13.279 --> 02:16:16.680 to tell them to pull outs. I would had a group that I really 1663 02:16:16.760 --> 02:16:18.680 wanted to come and work with us. Two they had plans or doing that, 1664 02:16:18.800 --> 02:16:24.000 but five from to a co connots there because they said they want to 1665 02:16:24.039 --> 02:16:28.840 set up ecconnots within that area. Now look at what the alexity. There 1666 02:16:28.920 --> 02:16:31.680 is a new change of God and a lot of things are happening as I'm 1667 02:16:31.680 --> 02:16:35.799 talking to you. You are appointed mayors, mayors who are very very responsible. 1668 02:16:35.959 --> 02:16:39.719 These are not archists that are looking for what to eat. Like example, 1669 02:16:39.760 --> 02:16:41.600 where they I grow park is in a halfia and the guy always the 1670 02:16:41.639 --> 02:16:46.360 mayor there is you know even both actually for he's a very wealthy man. 1671 02:16:46.159 --> 02:16:50.559 And basically what we're trying to do is to work with the state government to 1672 02:16:50.600 --> 02:16:56.200 put up in every community strug the services that can be able to put the 1673 02:16:56.319 --> 02:17:00.440 our farm and allow workers to go to the farm to produce things that will 1674 02:17:00.479 --> 02:17:03.239 be supplied to the market. Not let me tell you the only way we 1675 02:17:03.360 --> 02:17:07.520 can stop a bag of rice selling for one fifty thousand. It will get 1676 02:17:07.559 --> 02:17:09.399 to that side before the end of Christmas. If we don't tackle it, 1677 02:17:11.319 --> 02:17:13.319 we have to as a matter of urgency. I'm sure most of them are 1678 02:17:13.360 --> 02:17:18.000 listening them. We have to devolve secrety back to the communities. It's not 1679 02:17:18.159 --> 02:17:24.120 devolved Secretary. You're giving them shakapu the per person to God tackle those coming 1680 02:17:24.200 --> 02:17:30.559 with our page. We must devose secretary and arm those vigilanities in such a 1681 02:17:30.680 --> 02:17:35.360 one measure that anybody coming to knnap to occupy their forests, who think to 1682 02:17:35.399 --> 02:17:39.239 white know ifue because those who live in those coming they know their bush paths, 1683 02:17:39.639 --> 02:17:43.559 They know every inch of their alt You cannot come from Karen and Mota 1684 02:17:43.000 --> 02:17:46.719 or any other place to their community and you can be able to overrodeer. 1685 02:17:46.799 --> 02:17:48.840 It's not persible. They will catch even before they enter if they have a 1686 02:17:48.959 --> 02:17:54.079 walk first. You saw what happened when a matok went after those who can 1687 02:17:54.159 --> 02:17:56.479 nap and be headed the traditional relized. Of course, amatok is not even 1688 02:17:56.639 --> 02:18:03.079 properly if you are a mato kun or to with equal force like the bandits 1689 02:18:03.159 --> 02:18:05.879 and the criminals that go with our page. I can tell you there is 1690 02:18:05.079 --> 02:18:11.840 no inch of the Southwest that can be occupied by and not across Nigeria and 1691 02:18:11.000 --> 02:18:13.719 the government does not even need to spend money. We have given them the 1692 02:18:13.920 --> 02:18:16.440 place of hour. This this can be done. If you want to do 1693 02:18:16.520 --> 02:18:20.040 one hundred thousand hectors of that go locate the farmers in clusters. It can 1694 02:18:20.120 --> 02:18:24.440 make it closes from two hundred hectors and every coster put together with the five 1695 02:18:24.479 --> 02:18:28.000 family and jas. The family and jas will be paid for bruised that will 1696 02:18:28.040 --> 02:18:31.360 come from that family. Even use your poliman to do it. The government 1697 02:18:31.479 --> 02:18:35.120 is not breaking. If it's cool, everything only the government would do. 1698 02:18:35.200 --> 02:18:39.600 His government will provide regulation and the oversight over them as well as they don't 1699 02:18:39.639 --> 02:18:43.159 go. Look, that is the only way. But if we are still 1700 02:18:43.200 --> 02:18:46.159 depending on the police. You saw what happened in plant to State. We 1701 02:18:46.280 --> 02:18:50.000 had the one jar, I had this press called it paty location and it 1702 02:18:50.079 --> 02:18:54.200 got confused until the brandy is finished their work and left. Close your mind 1703 02:18:54.280 --> 02:18:58.479 the eyes and imagine if those communities have their own AK forty seven, have 1704 02:18:58.639 --> 02:19:03.239 their own trained family and just guarding their entrance and exits. By the time 1705 02:19:03.319 --> 02:19:07.680 the parties will have finished work competition all that communities will have locked their gains 1706 02:19:07.799 --> 02:19:11.399 and flushed them out. A number of state has always been an example and 1707 02:19:11.520 --> 02:19:15.680 of course it was even be too efforts. Remember he would do this study 1708 02:19:15.719 --> 02:19:20.159 about how he told he do about what particular we cat forest, we are 1709 02:19:20.239 --> 02:19:22.600 kicking nappers used to launch. Yeah, do I give him go ahead? 1710 02:19:22.719 --> 02:19:26.360 Ye? Do not providing with any money. Every state has capassed to fund 1711 02:19:26.360 --> 02:19:28.239 their own ages. Say goody again if they decide not to lose their money. 1712 02:19:28.440 --> 02:19:33.719 And there was able something I shared Caruer from the southeast. There was 1713 02:19:33.760 --> 02:19:37.399 an idea we shared it in most it how we can set up security trust 1714 02:19:37.399 --> 02:19:39.479 fund. It will take about with nine million billion naire to set up. 1715 02:19:39.680 --> 02:19:43.760 He would put armor persnacara in every local government and it wasn't part of that 1716 02:19:43.879 --> 02:19:48.239 funding. I mobilize most of the desperates, most of our desperates. We 1717 02:19:48.239 --> 02:19:52.479 are willing to contribute that. But let me tell you there was an arrangement 1718 02:19:52.719 --> 02:19:56.319 by the disperas in every community, each of them. We are willing to 1719 02:19:56.360 --> 02:20:00.319 pay at least one hundred dollars every month to fund that. Skill government wanted 1720 02:20:00.360 --> 02:20:03.159 to put money. All the government need to do was to so strong with 1721 02:20:03.479 --> 02:20:07.799 allow the community to select their own people and arm them appropriately. They even 1722 02:20:07.399 --> 02:20:13.239 even buying a PCs to the army to protect their communities. But the truth 1723 02:20:13.440 --> 02:20:16.520 is the governors and only to walk. That is the most annoying thing. 1724 02:20:18.079 --> 02:20:22.639 Everybody is looking at a project and those in a project and also not willing 1725 02:20:22.680 --> 02:20:24.799 to first the governors or persuade them to do what they're supposed to do. 1726 02:20:26.479 --> 02:20:30.600 They are see if you set to such arrangements in Iba state or in motion 1727 02:20:30.719 --> 02:20:33.159 and then elocuit it and people see this insanity, they know that they can 1728 02:20:33.280 --> 02:20:37.719 take care of their secrecy. And you added that's for us from them to 1729 02:20:37.799 --> 02:20:41.319 protect your mothers and your fathers from make and nothing their family. They would 1730 02:20:41.360 --> 02:20:46.280 know it. But like I said, we need men and women with strong 1731 02:20:46.639 --> 02:20:50.200 conscience, good conscience, men and women that are ready to go extrama to 1732 02:20:50.319 --> 02:20:54.600 apply and God and good conscience to do what is right. Then let me 1733 02:20:54.680 --> 02:20:58.760 tell you from what I'm saying, these guys are not ready. And I 1734 02:20:58.879 --> 02:21:03.120 bet you we can also have done over the last couple of weeks if we 1735 02:21:03.319 --> 02:21:07.959 don't get the farmers back to the family and fix the inseecuention, which can 1736 02:21:09.040 --> 02:21:13.399 be done in tree months. This country by the Zember dollar will for two 1737 02:21:13.440 --> 02:21:20.799 thousand if you will get to the Zember Jesus. So that's that's I mean. 1738 02:21:22.120 --> 02:21:26.879 We I'm laughing because I'm laughing out of fear, because you're right, 1739 02:21:28.040 --> 02:21:33.479 and because what is doing is that he's he's trying to fix an economy he 1740 02:21:33.520 --> 02:21:37.920 doesn't have the power to fix. Yes, he has made promises. Really, 1741 02:21:39.040 --> 02:21:43.120 that's what he has thought. He has taken promise three notes from investors 1742 02:21:43.200 --> 02:21:46.399 to say give me this dollar today and I'll give it back to you in 1743 02:21:46.520 --> 02:21:50.280 a year's time. Yes, exactly. Yeah, Okay, just listed now 1744 02:21:50.360 --> 02:21:52.600 look at let me just give you for the sake of those works, and 1745 02:21:52.680 --> 02:21:56.920 what does this look out? Look at the arrangements in most and let you 1746 02:21:56.959 --> 02:22:01.079 know that we have very strong the esperas in the most very strong ones. 1747 02:22:01.280 --> 02:22:07.120 They are very organized under the indoor framework. Its then what's you start on 1748 02:22:07.120 --> 02:22:11.959 the most communities. We ran the numbers and they were already let me know 1749 02:22:13.040 --> 02:22:16.959 what they wanted to do. First of all, the arrangement was for us. 1750 02:22:16.000 --> 02:22:20.159 You know that a kada one of the ways, the most the highest 1751 02:22:20.200 --> 02:22:24.559 form of Indian gathering is okada people. Kada people can give you any information 1752 02:22:24.840 --> 02:22:26.799 that even the police, Alic and God. They are the ones who transversed 1753 02:22:28.040 --> 02:22:31.200 the new can create. There the people that carry both the criminals in good 1754 02:22:31.239 --> 02:22:35.040 the battle and they he had discussions and Jis. The arrangement was to the 1755 02:22:35.239 --> 02:22:39.799 agency that will register all these kara riders, give them incentives, give them 1756 02:22:39.879 --> 02:22:43.200 taxed with us even to have them to first some of the akada's. Put 1757 02:22:43.280 --> 02:22:46.639 them in boockets in every company that will have with that ship. I'll put 1758 02:22:46.680 --> 02:22:50.239 them way that nobody can ride or kada within the community without having the license 1759 02:22:50.360 --> 02:22:54.200 and their monitor in tracts in every of their movements. That number one, 1760 02:22:54.319 --> 02:23:00.079 number two. Every community will do it at least fifty of their songs and 1761 02:23:00.159 --> 02:23:03.040 the number it will take up bout twenty two billion, which that billion dollars 1762 02:23:03.200 --> 02:23:07.879 billionare are to do this. Of course dicisis cost is two to four billion 1763 02:23:07.319 --> 02:23:11.000 annually will be the correct expenditure. But it is a billionaire to get their 1764 02:23:11.079 --> 02:23:18.680 money. Beyond the jack and fact if the people see Nigerians have paid so 1765 02:23:18.920 --> 02:23:22.639 much because of this is security. You know what they wants to be kidnapped. 1766 02:23:22.680 --> 02:23:26.239 Nobody wants to die. I can't tell you. Beyond what they are 1767 02:23:26.280 --> 02:23:31.879 doing on the former level is every state governor can wake up. The will 1768 02:23:31.920 --> 02:23:35.559 allow millions to talk my bugilty. They are not competing with the other and 1769 02:23:35.639 --> 02:23:37.920 police, allow us to prove cure so so so so so so so the 1770 02:23:39.079 --> 02:23:43.040 want the cover and they say, signed this thing for us. There is 1771 02:23:43.239 --> 02:23:46.840 no community. There's no states in the southeast for example, or the south 1772 02:23:46.879 --> 02:23:50.840 to west that cannot fund their security that you cannot fund. Your secretary say 1773 02:23:50.879 --> 02:23:56.280 privacy, because you will end up becoming a private militia. The governor's must 1774 02:23:56.319 --> 02:24:01.600 be there to provide real legislative discover for that being to upbread and of course 1775 02:24:01.680 --> 02:24:05.120 for it to uperate. We will work with the retired military men, with 1776 02:24:05.639 --> 02:24:09.600 jess officials and then who already have their colleagues in the mainstream that can work 1777 02:24:09.639 --> 02:24:13.040 with them and coordinate this more than a jumb police. And now it will 1778 02:24:13.079 --> 02:24:16.760 be simply if it wants to coordinate and direct this people and to help them 1779 02:24:16.840 --> 02:24:20.040 to build more properds. No, no, the past goose work and let 1780 02:24:20.079 --> 02:24:24.280 me tell you they will be PUSSI independent. Every community will have to come 1781 02:24:24.319 --> 02:24:30.399 of yourself independent within the CENTRALGIC. It's simp limited and it was a very 1782 02:24:30.479 --> 02:24:35.719 simple concept. Armies on nonne men people in first that too well not happen 1783 02:24:35.959 --> 02:24:39.680 they cause let me tell you, I go from a local government that has 1784 02:24:39.719 --> 02:24:43.040 about twenty two communities. If you have fifty from each community, which about 1785 02:24:43.079 --> 02:24:48.760 eight thousand youths fully a k for seven, there's no way, some stupid 1786 02:24:48.879 --> 02:24:50.879 a hundred people, we gotta depend to one black cat and that will be 1787 02:24:50.920 --> 02:24:56.840 declining independent on this stuf from Alona. Go to one and we'll force them 1788 02:24:56.920 --> 02:25:01.239 out exactly, and don't sheriff. He described the sheriff. You know, 1789 02:25:01.600 --> 02:25:05.719 if you go to America, they have NBI, they have eighty police, 1790 02:25:05.760 --> 02:25:09.959 they have eight highway police. Then they have sheriffs. Sheriffs. So if 1791 02:25:11.000 --> 02:25:15.719 every town had a sheriff that's what you're describing, then those sheriffs know the 1792 02:25:15.879 --> 02:25:18.680 town. How would you then come in and say you want to be avanted 1793 02:25:18.920 --> 02:25:22.040 If the sheriffs can't have the comfort support whether they supported, the sheriffs will 1794 02:25:22.040 --> 02:25:24.920 tell them that hey, this is the way they I mean, if you 1795 02:25:26.040 --> 02:25:30.600 want to go in America, a guy escaped from prison, carding criminal escape 1796 02:25:30.600 --> 02:25:35.000 from prison. If you see the resources that are deployed. They've brought in 1797 02:25:35.079 --> 02:25:37.239 the sheriff, they brought in the police, they brought in the swathing. 1798 02:25:37.319 --> 02:25:41.840 But all those swatting guys were packed in one school and it was the sheriffs 1799 02:25:41.920 --> 02:25:46.040 going to the school to their homes. This guy, what do you know 1800 02:25:46.239 --> 02:25:48.639 how once they find away where they deployed the guys in the forest is in 1801 02:25:48.719 --> 02:25:54.159 this area. Three hundred went to find that. So we have to rejid 1802 02:25:54.239 --> 02:26:00.399 this whole security architecture. You can't have a deal prison Auja put in. 1803 02:26:00.879 --> 02:26:03.600 You don't look at what's happening in emo or cutting. How's that gonna happen? 1804 02:26:03.799 --> 02:26:09.000 How crazy man here? But let me get with with insights and if 1805 02:26:09.000 --> 02:26:11.200 you're still here with us, you want to have a comment. Breath insights. 1806 02:26:13.600 --> 02:26:16.520 We'll counting down guys who are going to do our football Winness's under hour, 1807 02:26:16.600 --> 02:26:20.000 guys, So I want to give you guys time to go getrit it 1808 02:26:20.040 --> 02:26:22.559 for football. Get your beer, your chicken wings, your Nigier Jesse, 1809 02:26:22.760 --> 02:26:26.280 get it already. So we can no winter this thing right, We're gonna 1810 02:26:26.280 --> 02:26:28.239 come back here use place on Monday. We've gotta wind this thing. Breath 1811 02:26:28.360 --> 02:26:31.840 is in here. Let's go to boody you the you do? What's up 1812 02:26:31.879 --> 02:26:39.799 on you? The you is in the Here's go to e commers. I'm 1813 02:26:39.840 --> 02:26:45.120 here, I'm here, Hello go for I Tan of good living. I'm 1814 02:26:45.159 --> 02:26:52.440 good, I've been I've been listening to contribution with interest, but as an 1815 02:26:52.479 --> 02:26:58.879 I be good for myself by props. I think we can only in a 1816 02:26:58.000 --> 02:27:03.680 it to ourselves. Ab most of the things as in the conditions are not 1817 02:27:03.840 --> 02:27:09.360 pa But I'm looking at how the entertainment indes have been able to immune themselves 1818 02:27:09.600 --> 02:27:16.040 from the Nigerian Pact to an extent. I think that's that's the only thing 1819 02:27:16.120 --> 02:27:20.879 with how are they doing it? Agriculture is that important that we most think 1820 02:27:22.040 --> 02:27:26.360 beyond the government at least for now. There's a project I did there with 1821 02:27:26.520 --> 02:27:33.040 my community because I'm trying. I try to see how we could especially off 1822 02:27:33.079 --> 02:27:39.040 season because food production agriculture is an amssy of weather in this part of the 1823 02:27:39.120 --> 02:27:48.639 world because of lack of irrigation infrastructure. So immediately the THERN goal every fresh 1824 02:27:48.680 --> 02:27:54.319 food, you know, God, So I started a project. I called 1825 02:27:54.360 --> 02:27:58.239 it to resident farmers. I just copied you know, resident doctors. People 1826 02:27:58.319 --> 02:28:05.000 could produce am at least for the un consumption between October and and match before 1827 02:28:05.040 --> 02:28:09.520 them comes back. And since there are a lot of bogos in my community, 1828 02:28:09.840 --> 02:28:15.040 I try to get people to anybody who has a voco to sign up 1829 02:28:15.639 --> 02:28:20.399 to give a farmer who doesn't have before at least one hundred liters of water. 1830 02:28:22.600 --> 02:28:26.959 The target is produced and not always get get to the question I really 1831 02:28:28.040 --> 02:28:30.680 wants to, you know, hit me on the question or some yeah, 1832 02:28:31.639 --> 02:28:37.040 or comment or hit me comment comment on the topic. No comment, I'm 1833 02:28:37.079 --> 02:28:43.399 saying that pandemic. Yes, this is a comment. I'm saying. What 1834 02:28:43.559 --> 02:28:48.440 we need to do is innovate out of this part. Why we find ourselves 1835 02:28:48.840 --> 02:28:54.680 we can produce them, not not because there is not enough, but because 1836 02:28:54.879 --> 02:28:58.760 we are not innovetty. What we are doing basically is farming. I hear 1837 02:28:58.799 --> 02:29:03.280 people talk about tractors. If you see one of the biggest problems we have 1838 02:29:03.399 --> 02:29:07.959 this plant users. This is of plan in hands of so many people. 1839 02:29:07.200 --> 02:29:13.520 You can't even mobilized tractors to moving into a cluster. We are the pecis 1840 02:29:13.600 --> 02:29:18.520 of landscapardia and that it's not together that we can produce commercial points. So 1841 02:29:20.040 --> 02:29:26.680 we have serious issues with the the structure, especially when it comes to land. 1842 02:29:26.920 --> 02:29:30.639 And that's what I'm saying is we most in of it. Every part 1843 02:29:30.719 --> 02:29:33.840 of the country can begin to think of how they can. I saw a 1844 02:29:33.959 --> 02:29:39.280 video one of the biggest for you know I have for the fact they the 1845 02:29:39.440 --> 02:29:43.000 video I saw a very prominent lead not to say they're not going to sell 1846 02:29:43.159 --> 02:29:50.719 pork listening to the south, any farmer selling polo or something. If that 1847 02:29:50.879 --> 02:29:56.639 doesn't with us down south or then I don't know what's well because we basically 1848 02:29:56.760 --> 02:30:01.280 dependent not for food. So what I'm say so we must innovct. Most 1849 02:30:01.319 --> 02:30:07.399 of these suggestions are very distant, but it is the only innovating and what 1850 02:30:07.959 --> 02:30:13.520 is out of what we already have, you all can gantee and no food 1851 02:30:13.600 --> 02:30:20.280 for the Tamin population and young population is growing astronomical and we're not matching it. 1852 02:30:20.440 --> 02:30:24.520 So it's a non food I think. Thanks for the last. I 1853 02:30:24.559 --> 02:30:26.840 think, like you said, we have to innovate, but there's no individual 1854 02:30:26.959 --> 02:30:31.559 required. It's just got to mechanize an increasing yield. You know, we 1855 02:30:31.639 --> 02:30:35.239 are really doing very based subsistence agriculture for the largest economy in Africa, where 1856 02:30:35.280 --> 02:30:41.840 the substances agriculture using rain to farm, using manual level to take polls and 1857 02:30:41.879 --> 02:30:46.760 the brownd to plant seats using season and not hybrid no fertilizers. So even 1858 02:30:46.799 --> 02:30:50.079 if you just change one of these things, you know, we just improve 1859 02:30:50.159 --> 02:30:52.239 our yield. You know, we talk a lot the midst of agriculture. 1860 02:30:52.799 --> 02:30:56.799 No one on this space can keep me his name without Googly? Can anyone 1861 02:30:56.920 --> 02:31:01.879 this space keep me the name of the mist of agriculture without googling? To 1862 02:31:01.959 --> 02:31:05.959 be hard without Google, just keep me his name without googling. If you 1863 02:31:05.000 --> 02:31:09.600 could dog like, you get to be hard. And when you hear him, 1864 02:31:09.639 --> 02:31:13.159 now come on on the stream. What I don't hear is he wants 1865 02:31:13.200 --> 02:31:16.520 going to buy the saliza. I heard him for the first time that they 1866 02:31:16.600 --> 02:31:20.600 said he wants to close border. He wants to close border. That's mister 1867 02:31:20.680 --> 02:31:22.600 of the culture. He wants to close the border. When we are saying 1868 02:31:22.680 --> 02:31:26.319 that we should be opening the border. He said, what's supposed to brother, 1869 02:31:26.360 --> 02:31:30.760 because it doesn't want experts to go out what exports Conna, what export? 1870 02:31:30.879 --> 02:31:35.479 We need food here. So I'm not sure if we sit down and 1871 02:31:35.559 --> 02:31:39.760 say we will compared compared to mister additional that it dies not the current head 1872 02:31:39.760 --> 02:31:45.319 of the Afghan and went back when that guy was misst agriculture, that's when 1873 02:31:45.520 --> 02:31:48.360 Nigeria is going to be farmers. But then I just today that farmers became 1874 02:31:48.440 --> 02:31:52.319 from us because that guy was missed of the culture. You couldn't you did 1875 02:31:52.399 --> 02:31:56.440 you do not you concern about that guy. You saw his You saw his 1876 02:31:56.920 --> 02:32:01.000 I say evidence, His evidence was there. He's had all these dresses in 1877 02:32:01.120 --> 02:32:05.120 family for rice in Nigeria. He did a lot for farmers everything. So 1878 02:32:05.280 --> 02:32:09.639 we need people like that in government. Agriculture is not this. It's not 1879 02:32:09.680 --> 02:32:15.639 a developmental project like the man said, it's a business. I need to 1880 02:32:15.719 --> 02:32:22.559 get businessmen running agriculture, not technocrats, not government workers. Business may that 1881 02:32:22.639 --> 02:32:26.440 have done it before. Don't bring one guy. I give a political appointment 1882 02:32:26.479 --> 02:32:31.559 as mysterial culture. Go. I get the business man to run agriculture so 1883 02:32:31.719 --> 02:32:33.719 he can sit down. Guess take because I say yes, oh no, 1884 02:32:35.600 --> 02:32:39.000 not to get out to sell that lights about close brothers. I don't think 1885 02:32:39.239 --> 02:32:43.719 that guy, mister Mohammad, I got mister Mohammed war Siri, how are 1886 02:32:43.760 --> 02:32:52.520 you so? I'm fine? What's of hey? Manuel a literally advice? 1887 02:32:52.159 --> 02:33:01.280 Okay something, let's spoke out what he spoke about this security outtality executing in 1888 02:33:01.360 --> 02:33:05.879 the salads and level whatever whatever he makes. Yeah, he makes a restoration 1889 02:33:07.680 --> 02:33:11.840 the what I was still a boy his person. We still need to kind 1890 02:33:11.879 --> 02:33:18.520 of talk to a pullow younger brother sister down there. This is the only 1891 02:33:18.639 --> 02:33:20.840 line you have if you allow this to be continued. This weak this how 1892 02:33:22.000 --> 02:33:28.440 is going to take you up? Because whenever insecurity, because I perceived it, 1893 02:33:28.559 --> 02:33:33.159 I see it, do I hope you can't buy the commity. You 1894 02:33:33.280 --> 02:33:37.680 can't talk now we are trying to go on watching a germ and you can't 1895 02:33:37.719 --> 02:33:45.440 go there watch because in a rabbit everywhere this body where you are, you 1896 02:33:45.520 --> 02:33:48.280 want to go on to what the football was going to look? Shut down, 1897 02:33:48.319 --> 02:33:54.520 the shut everything about this was shut down so by listeners, so that 1898 02:33:54.760 --> 02:33:58.079 kind of thing as well have seen me so, but by the kind of 1899 02:33:58.159 --> 02:34:03.760 we said, you love this, Lets the power stay. Let a locality. 1900 02:34:03.680 --> 02:34:07.399 You need to soccri pice one thing you know you're don't need to wait 1901 02:34:07.479 --> 02:34:13.600 to somebody to do for you or you expect to tell. Start from where 1902 02:34:13.639 --> 02:34:18.719 you are, within your locality, in your local government, in your work, 1903 02:34:18.799 --> 02:34:22.040 in your area. Want to organize. If they say any stranger or 1904 02:34:22.120 --> 02:34:28.079 a strange just send the information out attack him. You can. They can't 1905 02:34:28.120 --> 02:34:33.840 do anative for you. One need to sacrifice that race because if not by 1906 02:34:33.920 --> 02:34:39.559 talking talking talk today we talk to world about it cannot bring any table anything. 1907 02:34:39.200 --> 02:34:43.879 Thank you. Yeah, before you go, Muhamed, where where are 1908 02:34:43.879 --> 02:34:50.879 you coming from I saw I put you on your No, I'm from medical 1909 02:34:50.360 --> 02:34:54.000 station. I mean, you guys have gone through you are the best man. 1910 02:34:54.280 --> 02:34:58.399 You guys have gone through very so much time now, many reasons, 1911 02:34:58.520 --> 02:35:01.399 a lot of calmer today, right, It's it's really calm now, a 1912 02:35:01.520 --> 02:35:09.680 lot better than in the person all that I'm the person, okay, and 1913 02:35:09.920 --> 02:35:13.200 it's I mean, what lessons do you think specifically for the north that's the 1914 02:35:13.399 --> 02:35:16.959 northwest work and look from the northeast in terms of security. I don't think 1915 02:35:16.959 --> 02:35:22.399 I've had bandits in Borno. I don't think I've had the ten bandits in 1916 02:35:22.479 --> 02:35:24.639 that side of the country. I hear it in the north west side. 1917 02:35:24.840 --> 02:35:30.120 The captain k I mean what advice one thing? Advice to give them? 1918 02:35:30.319 --> 02:35:33.920 And you say this is something, say something, but anything else that they're 1919 02:35:33.000 --> 02:35:41.239 not doing that they're amazing big picture. Yeah what I a sleeper do I 1920 02:35:41.399 --> 02:35:46.959 see I'm not being help, but I'm listening to work brows as they issue 1921 02:35:46.079 --> 02:35:52.639 is as we have expressed, this rapid issue just by a person to cover 1922 02:35:52.799 --> 02:36:01.920 younger my streach what they want to hear and this all into something is separate 1923 02:36:01.040 --> 02:36:05.600 thatself. It's just nobody came on preach what he wants them to rest them 1924 02:36:05.120 --> 02:36:13.040 and what street is neative. So it's easy. It's hard because nobody wants 1925 02:36:13.079 --> 02:36:16.440 to die. Nobody wants you kind of sacrifice. But you need to do 1926 02:36:16.559 --> 02:36:22.719 that to have your Incromeski, to have the pingample that younger wants your brother 1927 02:36:22.799 --> 02:36:31.360 as successful, go to be from the net there how say something. When 1928 02:36:31.399 --> 02:36:35.600 you say something, there's two sacrifice what you have, the little time you 1929 02:36:35.719 --> 02:36:39.319 have. At least you wouldn't say you cannot go to your business, you 1930 02:36:39.440 --> 02:36:43.799 can't go to your farm. No, even in acting when you come on 1931 02:36:43.920 --> 02:36:48.079 in the evening, give yourself at least four two to three hours to be 1932 02:36:48.360 --> 02:36:52.000 to have been the bitter of your locality, in your environment. That's how 1933 02:36:52.079 --> 02:36:58.120 we because as I we can't go anywhere you can. You can't be said, 1934 02:36:58.360 --> 02:37:01.200 if you're doing this will come to ours. When it started coming to 1935 02:37:01.959 --> 02:37:05.479 keep my up what I keep my father, so we said no, no, 1936 02:37:05.120 --> 02:37:09.440 that man has been pis. If you're not dear, you're one of 1937 02:37:09.559 --> 02:37:13.399 them. I don't make it that with. If you cannot come out, 1938 02:37:13.719 --> 02:37:18.479 you have one of them, and the unis you're jenerous. That is it's 1939 02:37:18.600 --> 02:37:24.239 very simple. Bubbileiz you would give them anything. The courage that approaching to 1940 02:37:24.319 --> 02:37:30.920 do in Charlotte will take it will change the ship taking the Google one will 1941 02:37:31.159 --> 02:37:33.799 do. Thank you, sir, Thank you. So what let's look at 1942 02:37:33.840 --> 02:37:35.280 that tournament game? Guys? Do we have a has stop here because I 1943 02:37:35.280 --> 02:37:39.319 have to watch a game that's just talking about next level forty five. So 1944 02:37:39.319 --> 02:37:45.239 I'll let you guys go ahead, let's talk about eight forty five so we 1945 02:37:45.319 --> 02:37:48.200 can have time to go get beer, chicken away, ready, mister, 1946 02:37:48.399 --> 02:37:54.760 I am area peace. It's good as he can. Thank you. Okay, 1947 02:37:54.840 --> 02:37:58.239 Yes, I'm currently living. You're at the moment. Yeah. Everything 1948 02:37:58.280 --> 02:38:03.239 that I'm calling the giving, I'm talking about the security, right, That's 1949 02:38:03.319 --> 02:38:09.440 what I wanted to speak about. In a battle. I realized that the 1950 02:38:09.600 --> 02:38:15.200 only thing we needed to give was to collaborate with the local guys, you 1951 02:38:15.280 --> 02:38:20.479 know, with the bad name and everybody. And it's relatively safe compared to 1952 02:38:20.680 --> 02:38:26.200 what we had to stay in understate. So it's now an issue of location. 1953 02:38:26.959 --> 02:38:31.799 You get it's an issue of location. And you realize that food in 1954 02:38:31.120 --> 02:38:37.799 Dustate is much more cheaper than food in a battle. You get why because 1955 02:38:37.840 --> 02:38:41.479 of the population. So we need more people to do. What to be 1956 02:38:41.559 --> 02:38:46.680 able to invest in those dings. Now what happened? The security? They 1957 02:38:46.719 --> 02:38:50.479 will cost us nothing less than twenty million. Why because there isn't electricity. 1958 02:38:50.600 --> 02:38:56.680 We actuallyly on solar to get those camera of ourning and everything. We're talking 1959 02:38:56.760 --> 02:39:01.479 about twenty million already without talking about the family it's said, we're just talking 1960 02:39:01.559 --> 02:39:07.479 about the security and architecture. So it is much more deeper, like you 1961 02:39:07.559 --> 02:39:11.399 have said. And then we started to engaging the Amotecuns and this and that, 1962 02:39:11.879 --> 02:39:16.159 and then when you realize that even they are Mootecuns the way they really 1963 02:39:16.239 --> 02:39:20.840 wait, there is nothing that is involved that I may not even be able 1964 02:39:20.879 --> 02:39:24.319 to discuss on here online for many reasons. So what I'm saying is we 1965 02:39:24.639 --> 02:39:31.840 need a realistic a push whereby we can really engage this the IG and every 1966 02:39:31.879 --> 02:39:33.600 other person is involved and say, you know what, this is the truth. 1967 02:39:33.959 --> 02:39:37.280 If we want to save the firm and if we want people to go 1968 02:39:37.399 --> 02:39:41.239 to the firm, this is what is happening compared to some other places. 1969 02:39:41.280 --> 02:39:45.639 I don't know what place of other places, but talking about one though then 1970 02:39:45.680 --> 02:39:50.399 talking about it, but these two places that are interested in that's what is 1971 02:39:50.479 --> 02:39:54.760 going on. You can familiar without stress, but then you have to make 1972 02:39:54.799 --> 02:39:58.680 sure that you are well monitored and we're secured. And that is a big 1973 02:39:58.840 --> 02:40:01.000 issue that we are not talking about. I don't think we can provide that 1974 02:40:01.120 --> 02:40:05.319 security. There isn't something we can do about it, because people are scared 1975 02:40:05.360 --> 02:40:11.559 to go to fun, people are scared to go to the farm until we 1976 02:40:11.600 --> 02:40:18.600 provide security. Increase in famil output. Let's get ice coled developments, Let's 1977 02:40:18.600 --> 02:40:22.200 get him in here, well worn it down. Guys wanna go get ready 1978 02:40:22.319 --> 02:40:26.719 to support the super egos ice called dev What are your body? Go ahead 1979 02:40:26.760 --> 02:40:33.760 spreading them and pushing all of us success today in our match althot of us 1980 02:40:33.879 --> 02:40:39.360 coming from the secretive conversation called cont value security. I think everybody else in 1981 02:40:39.399 --> 02:40:46.280 figure from one perspective of encouraging by encouraging the uh look at policy. For 1982 02:40:46.399 --> 02:40:48.879 me, I think it's a break is a bilt idea because I mean, 1983 02:40:48.920 --> 02:40:52.479 people who knows what is going on in the in the environment, w' feeling 1984 02:40:52.559 --> 02:40:58.000 the brunt of of the insecurity cause going to be more trying to put to 1985 02:40:58.079 --> 02:41:01.959 our boat. But I don't think it's saver. Bullets don't just solve the 1986 02:41:03.040 --> 02:41:05.399 problem. And I think we should look at because all like us look at 1987 02:41:05.399 --> 02:41:07.600 it. But bablistically is the fact that a lot of this is happening. 1988 02:41:09.680 --> 02:41:11.760 We can have the side us and when they're empowered, it could be a 1989 02:41:11.879 --> 02:41:18.280 problem. I give issues like across street from Plato states amos from Platu. 1990 02:41:18.440 --> 02:41:22.000 I'm speaking because I've seen the love of what has been happening. These are 1991 02:41:22.040 --> 02:41:28.159 comming out crashes and if they're empowered, they do not say that it could 1992 02:41:28.879 --> 02:41:33.680 it was. That's I'm not saying. I want you to put direct to 1993 02:41:33.680 --> 02:41:39.719 an economy question. Let's not do if what's just because let's go direct and 1994 02:41:39.760 --> 02:41:43.440 ask the commrect question. If you don't mind, Okay, I think we're 1995 02:41:43.479 --> 02:41:46.040 having this creatic conversation. So I was like, let's want us to look 1996 02:41:46.040 --> 02:41:54.040 at it from the police policy, and it's going to be hell hold up, 1997 02:41:54.079 --> 02:41:56.360 so let's just see this right. So in the end, guys, 1998 02:41:56.440 --> 02:42:01.040 let's not forget the issue and into actuity is an economic issue. Right. 1999 02:42:01.280 --> 02:42:05.479 If you fix the economy, you take a lot of wins away from the 2000 02:42:05.559 --> 02:42:09.559 sales of insecurity. Most of the security we're seeing is driven driven by poverty, 2001 02:42:11.399 --> 02:42:13.959 low wages, and lack of opportunities in Nigeria. So one way you 2002 02:42:15.040 --> 02:42:18.799 start to start to fix this problem of insecurity, to grow the economy. 2003 02:42:18.159 --> 02:42:22.079 The more people are employed, the more the less people you have out there 2004 02:42:22.120 --> 02:42:28.959 as kind of for that for the criminals. So again it's an economic issue. 2005 02:42:28.399 --> 02:42:33.680 Insecurities an economic issue. You will not takeuate the criminals, but you 2006 02:42:33.760 --> 02:42:39.639 would take You would empower the people to point them out because they know that 2007 02:42:39.760 --> 02:42:41.879 the people are affecting their liveshood Right now, people are broke, people that 2008 02:42:43.079 --> 02:42:46.479 don't have any wages, who don't have any opportunities. So to them, 2009 02:42:46.280 --> 02:42:52.079 even supporting the bandits look like an adding you who get someone to feed and 2010 02:42:52.159 --> 02:42:56.559 will take that out of the equation. So insecurity is an economic issue. 2011 02:42:56.120 --> 02:42:58.639 Chain care. You're going to be our last speaker for the round up also 2012 02:42:58.639 --> 02:43:16.200 it might so are you okay? Let's oh I can oh? I can 2013 02:43:16.239 --> 02:43:20.760 you take us home? Yes? I will great space as usual, lend 2014 02:43:20.840 --> 02:43:24.559 a lot. Thanks mister Biery for joining us today. I hope you're coming 2015 02:43:24.719 --> 02:43:28.879 again and again and again. We keep learning and we keep working hard to 2016 02:43:30.079 --> 02:43:33.760 figure out things. You know, you're beginning to figure out this insecurity plan 2017 02:43:33.079 --> 02:43:35.959 because we have no government as we know, I mean no government. So 2018 02:43:37.120 --> 02:43:41.200 to say, well, I just asked for the mic again because I'm wondering, 2019 02:43:41.319 --> 02:43:43.319 Cargo, how are you watching the match? The channel we used to 2020 02:43:43.399 --> 02:43:50.200 watch it on is not I mean, we don't see anything. Pay for 2021 02:43:50.399 --> 02:43:54.840 view. I think it's you do pay per you my friend has something, 2022 02:43:54.840 --> 02:43:58.040 so you have pay per view. Okay, do pay per view? Fires 2023 02:44:00.239 --> 02:44:03.639 do b e I N I think that's the cable station that has it. 2024 02:44:03.840 --> 02:44:07.479 Or just google it you see it to just google inprot you. I've called 2025 02:44:07.559 --> 02:44:11.440 you. You see it? Great? Thank you? Okay, thanks for 2026 02:44:11.639 --> 02:44:16.360 the space again for all the all you do. And I just want to 2027 02:44:16.479 --> 02:44:20.680 use this to say by mister Colly's books, a very nice read, very 2028 02:44:20.760 --> 02:44:24.399 easy to read. The type face both five copies. Didn't you buy five? 2029 02:44:24.760 --> 02:44:30.479 I bought six copies because my own copy from Amazon. Then seventy five. 2030 02:44:30.719 --> 02:44:31.840 Right, I got six copies, and I'm good. I'm going to 2031 02:44:31.879 --> 02:44:37.719 give that to people because again investment issues, finance matters, the jingoism, 2032 02:44:37.920 --> 02:44:41.600 the very edge. People don't know it. They think they know it, 2033 02:44:41.959 --> 02:44:43.319 but then they can have it as a good resources. So I'm going to 2034 02:44:43.360 --> 02:44:46.559 give it to people. So buy one and buy one for somebody. Okay, 2035 02:44:48.079 --> 02:44:52.280 makes a good read. The analogies are very beautiful, easy to understand. 2036 02:44:52.079 --> 02:44:56.719 Thank you gotcha, shout talk talk or very west. That's tround a 2037 02:44:56.840 --> 02:45:00.600 producer. What's your final word on this, wi We will be here on 2038 02:45:00.680 --> 02:45:03.520 the literally hours would have continued, but we have a harsh stop by. 2039 02:45:03.680 --> 02:45:09.959 My final word is that it is should never shut up. They should never 2040 02:45:09.040 --> 02:45:13.079 be shouted down. They should keep on pushing, keep on talking, keep 2041 02:45:13.120 --> 02:45:16.680 on demanding for the governors. I was just reading through one of your posts. 2042 02:45:16.799 --> 02:45:20.559 We are clearing this there by numbers, so that's just the TUO means, 2043 02:45:20.639 --> 02:45:22.799 and I could see the late aguement of some people who should not pe 2044 02:45:22.840 --> 02:45:26.479 people, you know, the kind of things I see that. Yeah, 2045 02:45:26.639 --> 02:45:30.680 sometimes I just wish that there's the way we can just create country from some 2046 02:45:30.799 --> 02:45:33.440 group of pot based on the philosophies and their pink You know, we'll keep 2047 02:45:33.479 --> 02:45:43.479 on. You know that because an artist so called so you know when I 2048 02:45:43.559 --> 02:45:46.159 when I went through that you paid that's what the comment talbot that I don't 2049 02:45:46.399 --> 02:45:50.040 I just said myself, God, who carried him this land? You know 2050 02:45:50.079 --> 02:45:52.840 it was advertise not for what anybody who is even my eleven year old child. 2051 02:45:54.319 --> 02:45:56.760 We see that number and will clear it. They go and tell you 2052 02:45:56.879 --> 02:45:58.879 this is what it is. You know, God will help us and God 2053 02:45:58.879 --> 02:46:03.479 already helped us. But I tell you I still it's done so much work 2054 02:46:03.520 --> 02:46:07.200 in dis country. Something something most give way. We cannot continue this way. 2055 02:46:07.840 --> 02:46:11.280 Thank you guys, Thank you guys. And you've heard it all about. 2056 02:46:11.479 --> 02:46:15.840 But this weekend we've talked about the NPC loan. Dot has given his 2057 02:46:15.959 --> 02:46:20.840 opinion on the loan. He says it's an expensive loan ce and Nigeri with 2058 02:46:20.920 --> 02:46:24.159 that borrow cheaper and that we had no business board at eleven point eight seven 2059 02:46:24.239 --> 02:46:30.520 APR from the international community which had no physis in that. We'll talk about 2060 02:46:30.520 --> 02:46:35.840 the exchange it and munchial policy from the CBN. High marks for you Mikados 2061 02:46:35.879 --> 02:46:39.239 of the CBN Governor. He's doing a lot of good things in this process 2062 02:46:39.280 --> 02:46:43.959 that has rolled out. We think there will be immediate benefits, but to 2063 02:46:43.000 --> 02:46:50.600 be cautioned that the benefits are not followed by constructive and systematic change on the 2064 02:46:50.680 --> 02:46:56.040 physical and the executive side to sort of line the economy to what the CBN 2065 02:46:56.200 --> 02:47:01.040 is doing. Then we didn't say ted quarter four that this could all be 2066 02:47:01.159 --> 02:47:03.360 on wrapped. So yeah, we can also is laying the front and the 2067 02:47:03.440 --> 02:47:11.000 framework for their executy then come out and bring out economic policies that will continue 2068 02:47:11.399 --> 02:47:16.920 and to perpetuate what has been done already with city even to effects higher inflow 2069 02:47:16.959 --> 02:47:20.520 of dolls has come to Nigeria with notesting the effect on inflation because the Sybian 2070 02:47:20.600 --> 02:47:26.879 can't really touch that a pert from raising the metropolity rate to nineteen percent to 2071 02:47:26.040 --> 02:47:30.319 give you a real rate of return or near a real rate of return. 2072 02:47:30.600 --> 02:47:35.200 The Sipian cannot really affect that inflation rate because the Ciplan alone can't produce food. 2073 02:47:35.559 --> 02:47:39.479 Food is going to be produced by the secret sects going to the hinterland 2074 02:47:39.840 --> 02:47:43.879 to bring that the insecurity and the farmers can then get their output to the 2075 02:47:43.000 --> 02:47:48.959 cities. When these cities get new cheaper sources of food, than inflation sells 2076 02:47:50.000 --> 02:47:54.479 to fall and that ultimately break that inflation at least bring it down to single 2077 02:47:54.559 --> 02:47:58.680 digiti double digits at least ten percent, not the twenty eight percent that we 2078 02:47:58.799 --> 02:48:05.200 have. Narra is on that attack, and that attack is coming not from 2079 02:48:05.319 --> 02:48:09.440 speculators but from the guys that are spilling crude oil to export out of Nigeria. 2080 02:48:09.840 --> 02:48:16.120 That's the number one attack. Speculators only exist when there's something to speculate 2081 02:48:16.200 --> 02:48:20.680 about. If you take away the speculative in activities that they're one speculative about, 2082 02:48:20.799 --> 02:48:24.040 and the NARRA will gain value. Hence, if you're just able to 2083 02:48:24.200 --> 02:48:30.639 export more crude oil, then NARRA will gain value immediately. We should not 2084 02:48:30.760 --> 02:48:37.399 waste our time chasing speculators, but focus all our energies on the export of 2085 02:48:37.680 --> 02:48:43.360 crude oil and gas, as this will guarantee a stronger error and then will 2086 02:48:43.440 --> 02:48:48.079 allow the CBN to get the ammunition into the foreign reserves to then attack the 2087 02:48:48.600 --> 02:48:54.520 markets more expetitiously. That's the summary of today, guys, Thanks for ae 2088 02:48:54.520 --> 02:48:58.520 hanging hours. I love today. Next week, I'm not sure what we'll 2089 02:48:58.639 --> 02:49:05.079 have space because let me just be clear, I would be in transit. 2090 02:49:05.760 --> 02:49:09.920 If we can have that space, I will let you guys know. But 2091 02:49:09.360 --> 02:49:13.079 all of next week from the twiter, I'm gonna be in Nigeria. I 2092 02:49:13.159 --> 02:49:16.440 want to have a live space, if possible, a kind of venue, 2093 02:49:16.719 --> 02:49:20.239 and we'll just do a live space. So you guys are gonna come and 2094 02:49:20.280 --> 02:49:24.920 I'm gonna do the questions, so I'm gonna take the answers right there to 2095 02:49:24.040 --> 02:49:31.680 be live audio with the space in Nigeria, maybe somewhere in Legos or that's 2096 02:49:31.680 --> 02:49:37.360 what I'm gonna do next week, So guys plan also in Legos and Abuja 2097 02:49:37.760 --> 02:49:43.239 and Honasity. I'm hoping to host just to be there with the books. 2098 02:49:43.239 --> 02:49:46.159 If you put a book from me, bring it over and I'll sign. 2099 02:49:46.319 --> 02:49:50.159 We can do our SELFI we can talk about what's going on. You just 2100 02:49:50.239 --> 02:49:56.239 have a cocktail, drink, nothing too serious. I'm trying to get a 2101 02:49:56.559 --> 02:50:00.680 venue at the place I got. I think it might just be just be 2102 02:50:00.799 --> 02:50:03.159 a little bit smaller, just not gonna get play and advice to you guys 2103 02:50:03.360 --> 02:50:07.559 this week. So it's gonna be one day. Bring your book or hangout 2104 02:50:07.799 --> 02:50:11.239 and we'll just talk. If you have a question around the book or personal 2105 02:50:11.399 --> 02:50:16.479 finance in Nigeria, we'll get this done. That's gonna be the week of 2106 02:50:16.680 --> 02:50:20.079 the nineteenth Old with the twenty fourth, but it's gonna be on the twenty 2107 02:50:20.159 --> 02:50:22.639 fourth day in League US. We're just gonna get a ven. You know 2108 02:50:22.719 --> 02:50:26.639 that you guys gonna come in there and we can meet and we can talk 2109 02:50:26.760 --> 02:50:30.200 and all that. Right, So let's do that, guys space next week. 2110 02:50:30.440 --> 02:50:33.760 It's possibly not son to let you guys know, but definitely next week 2111 02:50:33.799 --> 02:50:37.639 on the twenty fourth in legals, we're gonna hook up, do book signings, 2112 02:50:37.799 --> 02:50:41.079 to cook and a and it's possible do our space on that day and 2113 02:50:41.239 --> 02:50:46.600 just get a lot done. So I look forward seeing you guys be nice 2114 02:50:46.879 --> 02:50:50.520 and we should we should we should be we should be going right, all 2115 02:50:50.600 --> 02:50:52.200 right, guys, So guys go and enjoy. Nigeria is about to play 2116 02:50:52.280 --> 02:50:56.959 about. That's about ten minutes or so. I know we're gonna win it. 2117 02:50:56.479 --> 02:51:01.600 How do I know? Nigeria has beating all the countries that she has 2118 02:51:01.799 --> 02:51:07.719 a higher GDP. So once Nigeria has the higher GDP, Nigeria beat that 2119 02:51:07.840 --> 02:51:15.159 country in South Africa. We're beating Angola, We're beating every country in Africa 2120 02:51:15.239 --> 02:51:20.760 that GDP was higher. So I look at the GDP right of Nigeria and 2121 02:51:20.959 --> 02:51:28.040 CODEVOIS and of course Nigeria's GDP is four hundred and two billion and code for 2122 02:51:28.319 --> 02:51:33.120 GDP is seventy billion, which means, according to the rule of GDP, 2123 02:51:33.879 --> 02:51:39.120 Nigeria is going to defeat. I recast and bring the cup home. That 2124 02:51:39.399 --> 02:51:43.680 cup wants to go to his nation with a high GDP. So it's coming 2125 02:51:43.799 --> 02:51:46.840 home. I said it, and it's going to happen. Guys, So 2126 02:51:48.440 --> 02:51:50.799 contrees Nigeria is going to happen. Now, say you guys next week in 2127 02:51:50.920 --> 02:51:54.040 Vegas, I'm gonna go guys over and out cl