APC Member, Ayo Oyalowo Blames Economic Saboteurs For Falling Naira Value | Politics Today

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[@gunnerarshavin2009]

The new APC anthem is this: On ya mandate we shall starve! On ya mandate we shall starve! On ya mandate, bola, on ya mandate, bola, on ya mandate we shall starve! 😂😂😂

[@ia6145]

Like this guy Ayo he didn’t shy away from people trolling him he took it with a smile

[@danielemekaekeka541]

Thanks Ayo for your patriotism,We don't need a party rather a sincere leadership

[@yusufarowosekila3222]

I like this Ayo Ayalowo he as nailed our problems and how it should be dealt with why are we deceiving ourselves.

[@Pwhalez]

I'm sorry but you sounded bereft of 36...The guy has not said anything meaning or new, he was only regurgitating what the clueless CBN governor has been cluelessly saying in the past few weeks.

[@StevenGowon]

Look for an excuse even a stupid one, find someone to blame even if it's your own party, as long as you don't take responsibility. That's APC playbook yesterday, today and tomorrow

[@user-zh9bk4mf4k]

Seun - you have to invite cbn to respond pls. Or at the very least a number of bank ceos. Otherwise these accusations are very unbalanced

[@omemgbojichukwuzitelu9568]

This Guy is Surprisingly Correct. Love his Tenacity on the mic.

[@tundefadeyi4228]

How is he correct? He doesn't have any idea. You cannot stop this problem overnight! Fix your economy, talk about your monetary policies- that is your CBN and The Government - those are the people that can manipulate the market. Many factors could affect the currency- the number one is your economy. Unemployment is skyrocketing, no strategy to curb inflation - prices of goods are so high and people's salaries have been stagnant for years.

[@user-fp5hq5kj2b]

Governors, LGA chairmen, collecting billions on behalf of citizens monthly and are unable to perform should resign

[@adetayoakinmade9977]

Even the president himself

[@tonero8562]

The clueless and incompetent president should lead the way. In a civilised society, Tinubu supposed to have resigned.

[@Tito-xo2ke]

BAT and his team need to declare a stste of emergency in virtually sll sectors otherwise i see a Venezuela scenario.. This is truly unfortunate..

[@chisomezeh8186]

You want to know what is driving up the price of foreign currencies? It is speculation and the APC created room for people to speculate. People that don't need dollar are buying it because they have lost faith in the Naira and know that they won't lose when they hold dollar. Someone I know bought a thousand dollars a month ago for N1350, today it's N1850, now wants to buy more - that further kills the Naira. Yesterday exhibitors at an event at Landmark Lagos all priced in dollars. So how can something that is not wanted or made relevant have value? All these were triggered by the reckless removal of petroleum subsidy without an economic team in place. When you make production unattractive and expensive, people produce less and lose employment, people spend more battling for the few products available.

[@adekojoadewale5274]

Absolutely spot on

[@sundayowolabi2481]

Mr. Ayo, you know your stuff. You are very right, different between bank and malam rate should not be more than N5. That is what it is in the Middle East. You can even get forex through ATM. Bank is really doing their job.

[@mylifewithjesus3]

The factors driving the Naira is because the Tinubu government is not creating any Export oriented farming and Manufacturing at least farming in the short term we have the Land and we use youths to work in security and Farming and exports Farming products and this will generate revenue in dollars for Nigeria and this will reduce the pressure on the Naira, Tinubu Policies has to change .

[@akodubola7138]

Export issue no b today jor

[@Theovat]

This is the first time I have seen an APC man making sense.

[@martinsinye2710]

At least he accepts there's problems and his solutions seems truthful and bold. Nigeria success belongs to all of us.

[@skilloftheweek]

Lol. He made no sense. He only shifted blame. People speculate on every currency, that is what forex traders do, they speculate. He only showed that he lacks deep economic sense.

[@SAMSAM-ne7vv]

They can actually make sense but they must always do their jobs ooOoOo. Even if they have to call black , white with different points backup statement. U can see it's not possible for him to know if BABA is aware of his claim or if they're all rubbing one another's back at the expense of the public interest or future of the country...

[@bankolegbolahan2521]

bcos you not open minded

[@ernestese6501]

Oshiomole always makes sound contributions on the floor

[@franklinsmart6112]

Minus politics..he is a wise Man.

[@oladipupoadekunle2072]

Yeah, very sound contributions. Old soldier no dey die nah.

[@justafan2413]

I’ve been waiting for this THEIF to come and defend theifnubu!!!! Shameless men

[@cedarxeda2665]

Wetin concern Binance concern Naira

[@tundefadeyi4228]

Thank you. Wetin concern binance concern your bad economy, what are you doing attract investors- you don't have any big market movers in your country - what is backing your naira - I laugh in Chinchinchum Language. The man is brainless.

[@tracyjacopin4325]

CAREER CRIMINAL

[@udo-olisafranklin6917]

Nne m ur right 👍

[@idehenuyi2172]

Stop barking man, your City boy don destroy Nigeria. Buhari that failed woefully now looks like an hero. What a shame!

[@FatherAbraham7]

Thank you Sir Ayo❤

[@patrickkolawole4104]

Not just economic saboteurs but president Tinubu’s announcement of fuel-subsidy removal & same time, threw Naira exchange rate into free floats markets that depreciating value of Naira, that brought economic havocs & ruins upon Nigeria. US can’t throw Dollar exchange rate into free floating markets , survived. Poor fiscal & economic policies brew rising hunger & inflations across Nigeria.

[@kene6753]

What do you mean by "US can't throw dollar exchange rate into free floating markets, survived"? The dollar is a free floating currency and has been so since time immemorial.

[@yim8000]

Brave man even though he may be wrong for not mentioning naira floating and fuel subsidy removal of May 29 is the albatross of our predicament.

[@alphazolax1843]

Then his not brave, if he was brave he will mention those things you add to the problem.

[@okechukwufrancis2795]

He knows all those things you mentioned but he doesn't want to criticize their own policies on national tv

[@Hericoni]

If we are still paying subsidies as it were in the past, by now, Nigeria's debt would have plunged us into Argentina, Greece and Venezuela level of horrific economy crises. Why did I say this? Where is the revenue to keep up the subsidies? Nigeria govt. were paying for many subsidies (still paying) and Tinubu only removed 3 (Naira defence & Fuel). While the country's foreign reserve went from $4.3B yearly to about $400m in 2023. That is just terrible when the population is about 200m. Very terrible. Though, I think Tinubu's mistake is removing 2 subsidies at once. He underestimated Nigerians enjoyment of free & cheap life. 😂😂😂

[@nwanchamaalu8017]

Complain after complain. He was one of those dishing out lies 8 months ago.. now he is talking from both sides of his mouth.

[@billcosoritse6798]

Sir you are right, they ll not suceed to stopp the president from rebuilding the country, with time their ass shall pull up to the open. God bless and guide the president of Nigeria

[@tundefadeyi4228]

You need to educate yourself to liberate yourself. That man has no idea how a country's economy should run.

[@emyoji1316]

APC nember advising APC government on how to run an economy using Oshodi Economic theory 😂😂😂. Una never see anything 😂😂😂🤣

[@michaelayodele3210]

Countries that grows their economy use their streetwise theories and not the Cambridge or Harvard theories. Ask China or Singapore!

[@emyoji1316]

@@michaelayodele3210 You know there is anarchy in the land when everyone in the same party is dishing out "Singapore-China"🤣🤣😅 economic model to solve a problem any sound government could have easily addressed! China ko, Singapore ni.

[@akeminnocentosagie5901]

These people have totally finished this country. Wickedness in the highest place ruling the affairs of Nigeria 🇳🇬.

[@OlawaleAfuye]

Binance this man should stop embarrassing himself

[@akitoyetaofik5629]

who is embarrassing himself now ode

[@hammedanimashaun3299]

Fact!

[@davidwilliams7028]

Seun thinks the issue is an APC thing ...alas we all in it together. Objective should be the order of the day and not subjectivity. The guy has made a very clear statement and has profer solutions. He's got balls!

[@titilayoolaleye137]

Ayo is right. Bank are supposed to sell within the margin of N1 to N3, selling with margin of N100 or above is criminal. That's why the BDC will add their margin which might be more than N200 margin. Banks in Nigeria are no longer doing the real business of banking. That's why BDC now started doing foreign exchange business of banking since banks abdjucated their responsibilities. When I stared banking, Foreign exchange transaction was termed as delicate and can ruin the economy of any country if not properly monitored and guided but in the last 8 years what had been happening is real criminality of unguided and unsanctioned round tripping in large scale and this happened because the CBN under Emefiele was culpable in this. No economy can survive the kind of criminality that happened in CBN in the last 8 yrs. FGN and CBN will in their own interest and in the interest of the country, take everything said by Ayo seriously. These are the reasons why floating of the naira was not working. If the Governors also loves this country, they should stop converting FAC allocation to dollars. All hands must be on deck to make Nigeria better. We have no other country to call our own.

[@jiksawo08]

Hahaha they’ve run out of ideas. They’ve moved from hoarders of rice and beans to traders and now it’s banks 🤣🤣

[@n.a.t.swithstan1135]

What dafuq is a political economist?!?😂😂

[@martinsinye2710]

Mr Ayo, you earn my respect from today.

[@onimisimayaki8980]

Blame !!!

[@oladipupoadekunle2072]

Ayo has said the absolute truth, my thinking in all these is that, those who are supposed to punish the banks are also culprit reason we are still here. For me, there was no need to have floated the Naira in the first place, all that was needed to be done was to shut out the Abokis selling on the streets by reducing the volume of foreign currencies in their possession. Just like Ayo rightly said, it's only pple with little transactions, ppl who have monies sent to them from relative abroad that should be patronizing them, so why will they be the ones determining the price. There are too many criminals and government, and nobody punishes offenders, Impunity is the order of the day. If we want to get it right, strict punitive measures should be introduced into our systems..There is also a way the government can make the bank sit up to correct the abnormally going on right now, that will be said if contacted. All these things are not rocket science like they make it look.

[@al-aminibrahim828]

Sir i think the Binance speculators you’re talking about is baseless because many countries are using Binance as well and their economy is not being affected or destroyed then why only Nigeria.

[@chilwell397]

They hv run out of ideas😂😂. Soon they will come 4us for posting rate

[@jimiisafiade1442]

Very good

[@kingsleySopuluchiNwosu]

All the former and present president. Are involved. Release the truth in the DSS dungeon. Mazi Nnamdi Kanu should be free

[@stephenirumudomon5414]

can criminal remove criminals?

[@Andrew_data_engineer]

This one dey smoke EGBO 😂😂😂

[@stephenking6377]

😅😅😅

[@african-history-fountain]

He is saying the EXACT TRUTH. Why are you scared of the truth? Are you among the saboteurs or are you a traitor?

[@kabaka99]

But he is speaking facts. U for dey hail am if say na ur candidate be dat. See beyond 2023 elections.

[@chuddy2004]

This man doesn't understand how financial market or economy works. The country needs to build the country foreign reserve backup to strength the Naira through export. You can arrest all the banks directors will not solve Thief Tinubu failed economic policies.

[@chilwell397]

U de mind the mad man.they r already mad

[@nelsonemmanuel900]

Sheun Ayo is 💯% correct let me ask who are those for several years have been insisting floating the Naira, people like Soludo, Mohalu, Rewane, Prof Pat Utomi, this MD of IBTC all those present and former bank executives in collaboration with IMF and World Bank, today BAT hurriedly executed policies that destroyed many countries economy the first thing they will ask you is devalue and float which no western nations will do, no country play with there currency now Jankara market force led by bank Excos and aboki are now in charge of Nigeria financial economy.

[@davidwilliams7028]

If this govt has balls let it go ahead long...Cardoso you have heard.

[@louisedagu481]

All Apc knows is blame game

[@chilwell397]

He hasn't even mentioned the main thing,that is export and bringing in investors. Also they hv emptied our foreign reserve

[@Hericoni]

Foreign investment won't make impart until about a Yr more or two. You can't build an industry from scratch in a Foreign land in just few months. Research, funding, construction, materials, employment etc. All these takes years. Even Dangote Refinery is yet to start supplying

[@oddyodion3014]

The only bold person without cobwebs in his cupboard is Peter obi. Obi for don put all of una for cooler.

[@bashiryussuff3291]

That is not true. All of them are the same. No sentiments. All Nigerian politicians are the same.

[@akodubola7138]

Deputy Jesus

[@1davidabraham]

Very truthful analysis

[@user-di5dv1gr4m]

THE POSITION DANGOTE IS OCCUPYING IN NIGERIA IS MORE THAN THE POSITION ALL THE BANKS CEO ARE OCCUPYING

[@maintainman]

You dey crazy mad people everywhere

[@kachibest]

A koinonia man will speak the truth without sentiments. Campaign is over, it's time to hit the nail on its head and Ayo oyalowo doing just that

[@josiahharuna3023]

It is disheartening listening to some of this people. All over the world, investors act purely based on speculation. That is why you need smart people in government. So what crime will you charge a bank with that withholds instead of selling dollars?

[@okeoja4447]

Apparently you failed to understand how banking system works. Majorities of our high profile corruption are perpetrated with the help of our Banks. That's the reason govt must focus on the banks to make sure they're not aiding and abetting corruption

[@joshuaelaiho2201]

I have been thinking same thing cus the bank , I think cardoso has lost his mind in all this the steps they are taking is that of a confused drowning man. He claimed 1.8billion usd came in yet Naira fell from 1500 to 1800

[@akodubola7138]

Wetin u no sabi go continue to b ur SENIOR. ASK banker's for more details

[@Seko1087]

Seun you are killing your program this is not about Apc or Pdp this is a serious national problem don’t allow politicians to drag you into politics what we are witnessing dated back since 1999. Lack of economic planning coupled with fraudulent policies led us to the present situation.

[@skilloftheweek]

Really? Thought Buhari came to correct PDP's error. What are witnessing started in 2015

[@uzunmaimo8888]

If a kingdom is against itself, how can the kingdom stand? APC members and their friends are the problem of Nigeria. It will certainly reach a boiling point and then.....

[@sacramento1933]

Channels Tv...why you guys bent on inviting to the studio people whom we have absolutely nothing to learn from. He's not making sense for God's sake

[@samuelodabe2883]

I swear the guy is just saying rubbish 😮

[@kunlekuku1140]

This guy is empty. Please Seun, don’t ever make this mistake again. He’s converted his myopic and daft believes into facts. He’s so appalling..

[@african-history-fountain]

He saying the 100% TRUTH. You sound like one of the saboteurs.

[@kabaka99]

I think u r d empty one here. I see y God also created d senseless to compliment those who have sense.

[@kunlekuku1140]

@@kabaka99 You don’t need to respond to me or attack me. It’s a public discourse and I simply aired my opinion. Focus should be on the subject not my commentary. Objectivity is very expensive. Peace and have a great weekend Sir/Madam.

[@user-rs4bc2ze2g]

Oyalowo speak the truth don't lied

[@miltonchadwick]

The politicians are also complicit; especially the state Governors who receive allocations and dash to bdc's for dollars.

[@ce8333]

He is blaming everything else instead of fixing Nigeria! 😂

[@sunnytimoglobal]

Nigeria government should copy the GCC countries how they peg their currencies against the dollar, this will make the naira stronger. Also reduce import duty by customs and create more modular refineries for more productions.

[@princelade]

Great discussion... however, how will a country allow binance to dictate the exchange rate? Binance is just a crypto exchange and one needs to be extremely careful because binance is a Chinese based exchange. Our monetary policies need to be solid and we should avoid crypto exchanges from manipulating our currency.

[@tundefadeyi4228]

Bro or Sis, I can answer your question - Binance has 0% control over your naira - those rates you see on Binance are what show globally - go to trading view or just use your Google Search - Search for Niara Dollar rate, and wait after 24 or even fewer hours check again if the rate will be the same - 100% assurance they won't be the same. Now tell me, if you have used Google search to check your rates at different times, would you say Google manipulated out Naira? Binance shows what rate the Naira is at a particular and with volatility in the market, prices fluctuate. I have more abeg they should invite people that understand economics, monetary policies, debt management of a country, open market operations, natural resources management- that is your crude oil and many resources in the country, workforce, trade balance, fiscal policies etc.

[@chidiottahchidi394]

It is not only bank executive problem. Nigeria is not producing anything. Emefiele pegged it because he knew we have nothing to offer internationally. Once you float the currency you are exposing it to market forces and they wil deal with it accordingly

[@josiahharuna3023]

What you need to do is to create insectives that results in the outcome you desire. This kind of talk doesn’t inspire confidence. There might not be economic activity but there is speculation

[@lateefkareem6848]

As a forex trader we disagreed the manner our naira keep failing for no economy reason,technical or fundamental reason simply becos the Naira keep braking support without any challenge even the round figure that is always difficult to break get break easily in forex term ..

[@peterabrahams5500]

Get the few people somewhere who ever they are and deal with them. Why is any Government in powers!? Legal of not!

[@Theagbors]

Which binnance???

[@technoluxcustomcabinetry]

APC will blame everyone but themselves 😊😊😊😊

[@alainnnorom2929]

Should Nigeria's naira be determined by the United State's Dollar? All these APC members are talking nonsense.

[@LawrenceFrank-js9zp]

My brother all of them know what to do. after all shetima was a banker.

[@adebowaleadetoro2629]

APC and BULK passing, blame game. with time, Tinubu will blame Awolowo, Tafawa Balewa for economic crisis they created. Please who appoints CBN governor ? who appoint EFCC chairman ?

[@ray-df8bq]

This is a lagos boy with all the qualifications. I believe he should be the deputy central bank Governor. He has all the solutions to the problem of Nigeria economy. The bank Mds should be sacked so that we can bring aliens from Mars to come and replace them. Talking of binance, most forex investors don't trade the naira against any solid currency. Naira is too weak. Just like me putting my hard earned $50 to trade naira against Gbp (great Britain pounds). Forex market is largely influenced by the economic transactions of government and banks which are the major financial players in forex. And number 2, Europeans, Chinese, Americans can sit in their countries and trade forex with naira, if they choose. Binance is not the problem. Nigeria needs investors. Foreign direct investments should be the key

[@silvernkeirukaiheanetu7290]

Apc always shifting blame

[@Oladeji100]

He has not been given any position 😂😂. They are still standing on theifnubu

[@osas3857]

Apc knew all of these and yet promised Nigerians N1 = $1. When will apc take responsibility? Who appoints the CBN governor? Nigerians?

[@RealJOGBz]

Oga don't attack Binance, their rate is simply affected by demand and supply. It is the banks that are the main culprit here, they don't sell to customers because they sell to the local aboki for a higher rate, then the customers goes to these Aboki for even more higher rate and so the circle continues, the likes of Wigwe, Elumelu should be questioned. Nigerian banks have been destroying this country since the Buhari government.

[@ivieeva6166]

Hmmmm, I'm looking as this man with a bombastic side eye 🙄

[@nikeolatunji5761]

Grammar cannot solve Nigeria issue as he said way forward needed our governments should listen to Economists an make use of there experience to make things work better

[@CuepointStan]

The chicken has come to roost.

[@augustineezenwa9187]

Ebi pawa oo economist Ayalowo

[@ahmadumarahmad4773]

The current Tunubu economic policy is networking. They should stop blaming saboteurs. Nigeria as a State should take charge of its economic policies and do away with the IMF and World Bank.

[@ndubuisiduru8602]

Stop the blame game and get to work. Your party's policy of removal of subsidy without any cushion and allowing the Naira to float was an unmitigated disaster!

[@YoungOnyeka]

Oga rest we like dis manadate

[@franklyn-valokeke269]

I have a feeling that Access Holding Director that died is trace to APC. I can see the way it is linked to APC

[@princedavid4673]

This guy hit the nail on the head.

[@tundefadeyi4228]

Walaha! He is hitting the nail inside a draw sheet. He doesn't even have the nail in the first place, not to talk of hitting it in the head. He has no clue about the economy.

[@valerianagbata1268]

Ayo was so clueless about the topic. He was only making a noise. APC has a WhatsApp group where they share information on who to blame and the rest follows suit. How does BINANCE P2P fix prices of dollar for Nigerians??? Do they think Crypto exchange is like BDC??? What about decentralized exchanges??? Does this fellow know anything about it????

[@FreddyTams]

The APC will soon blame it on too many poor people.

[@ksaifu]

Can you guys edit the audio settings. It overshadowed the monologue you give. Tune the levels of the soundtrack down to be more in the background.

[@ubedet]

This is the only thing that Yoruba people know how to do best. Look for who to blame for their issues. You people made the wrong choice and we all are paying for it.

[@franklyn-valokeke269]

This APC boy is just making noise all what you said is smoke

[@leoozomma9624]

Apc pundits will always chase shadows instead of finding out what the real problem is and get it solved no they won't do any of it rather they start blaming everyone except themselves. What a tragedy and a huge clueless way of solving crucial economic problems.

[@lateefagboola7614]

DID YOU UNDERSTAND ENGLISH AT ALL. THE MAN IS EXPLAINING WHAT THE PROBLEM AND SOLUTIONS AND YOU STILL TALKING POLITICS, NA WAOOO.

[@matthewudenenwu5949]

Ahhh, saboteurs. Thats what we said just before out-numbered, out-equipped, out-supported out-flanked biafra fell. 1969. Chasing the dollar is a losing proposition.

[@adetayoakinmade9977]

Who are the saboteurs, always looking for excuses to justify their failures

[@rollandokechukwu2161]

That's what you get if you impose yourself on the people

[@akodubola7138]

APC -1ST OR LP -1ST PDP - 2ND. PDP-2ND LP - 3RD. APC-3RD I am not a member of any political party in my great country NIGERIA.However,I don't really understand what you meant by impose urself on the people.

[@henryjide1329]

These APC guys dont even know the root of the problem. 1st it is perception. 2nd ur president background. 3rd His appointments and ministers nepotism. 4th lack of production and exportation, etc. Until u guys sit down, think qnd apologise to Nigerians then the citizens will join in the build up of this country. If private individuals and companies are changing their savings to any foreign currency just to save their value is what is triggering the market value going down.

[@kamaldeenaolatunji7282]

In riyadh, and many cities, u dont see yheir BDC changing hihe transactions except little money, in Nigeria, NDC are d safe heaven for criminals to change money.

[@Hericoni]

💯% agreed with him plus... An executive order should be signed by Tinubu which should make currency trade in Nigeria illegal and anyone found with more than £1000 or $1000 cash should be jailed for 3yrs without fines while the foreign currency is confiscated.

[@henryjide1329]

And u want foreign investors to come to invest. The way u guys just talk abt executive orders is laughable.

[@Hericoni]

@henryjide1329 Do u even know how many Executive orders Biden has signed? Does that make Foreign investment in U.S slow down? Common na! You can do better.

[@Hericoni]

@henryjide1329 Biden has signed many executive orders since he came in, does that change the attraction of foreign investors in U.S? You can do better.

[@trendybrowne]

If Tunubu economic team didn't forsee this eminent economic collapse/chain reaction from the first day in office till now. then those who's advice he took are the saboteur

[@ezecletus6465]

If a person at the apex of the banking system becomes incapable of putting a stop to the madness of the dollar malaise, it can only mean that he/she is compromised to the extent that tampering with the system would be akin to personal economic suicide .

[@lovymedia5976]

Same CBN coming from the same banks that had committed criminal activities expecting him to perform...he is complicit in real time!

[@bennyigwebe6376]

What does Nigeria produce and export to earn dollars apart. From oil how does one earn dollars production is the key Nigeria only consumes as longs as consumption is greater than production the naira will continue to tank

[@innoachukwu]

As usual... APC and mumu analysis.. If Binance prices are high and the BDC prices are lower, won't that cause the Binance price to crash?

[@chiemeziendunaka5618]

Check everywhere in the world where drug dealer becomes the head. What's happening now it's nothing new. But Nigerians were sturbborn to its consequences

[@segs3394]

Jokers. No amount of policy will solve the problem. You float a currency to be determined by market forces, knowing that you are not a force in the market. Only crude oil suppliers forex even that we dont account

[@kunlekuku1140]

It’s simple; wrong CBN FX policy and ideology.