AbdulHaram:

Mtcheew! You don't have the money! So Vanguard and ThisDay are liars?

Ahmeduana:

ENU LO WA YEN!

soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET

INTROVERT:
Barcanista must be a prophet.

I pray naira comes back to 160 170 sha coz my business is being affected.

najoke:

Madam, I dont mean to be rude but u disappoint me......here is what he said....from the link you provided o!



I will give another chance.....I am waiting for you Wailers to provide a link

soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET

AbdulHaram:

1001 - 21 = ?

jaybee3:


Some of his campaign promises are election gimmicks and he will certainly be held to them but that doesn't mean he shouldn't be measured with an aggregated coefficient score of economic and quality of life indices within appropriate time periods

You can't be shouting murder when he has barely started.

It's plain ridiculous!

SenseiX:



https://www.thecable.ng/dramatic-reversal-naira-falls-n2351

Firefire:



Why minus 21 ?

The grandpa is still enjoying honeymoon na ?

RichDad1:

whats diss one saying?

Tbillz:
Change is constant!

jaybee3:


Some of his campaign promises are election gimmicks and he will certainly be held to them but that doesn't mean he shouldn't be measured with an aggregated coefficient score of economic and quality of life indices within appropriate time periods

You can't be shouting murder when he has barely started.

It's plain ridiculous!

jaybee3:


The official rate is still N197 to the dollar so why are you wailing?

What doom has the volatility in parallel market rates done to the economy in real terms?

Pidggin:


http://www.thisdaylive.com/articles/buhari-i-i-ll-make-naira-equal-to-the-dollar/20488/

Please take off that APC sunglasses you have on before you read this.

yehmi01:


I am not a business analyst or an expert in how the value of money increases or decreases.

To be honest I would like to know what this Barcanista dude said and in less than 24 hours it happened.

Now why don't we look at it this way. If people like this guy that every one is talking about (Barcanista) has a good info of how this work would I be right to appeal to him to also advise us on how it can also be better.

Really to destroy something can be easily done but to fix is not as easy.

Let's not start praising or causing any one about this.

For those calling him a prophet of dome I don't think its called for.

If you have the analysis he has you will know what he knows so please let's stop spiritualizing what is not.

Please advice what can we do to make sure naira gains value and remains that way.

Who knows weather a rep of CBN might just be on NL and can learn from this.

Not every thing should be a joke or a platform for throwing insults

After seeing greece and what debit can do to a nation, I belive that its the collective help and responsibility of every citizen of Nigeria to help fix this and get us out of this mess.

AbdulHaram:

He has tried jo! 21 out of 1001 leaves you with 980. By God's grace he'll round them up if you give him more 15 years!

Firefire:



Abeg tell me, which 21 has he fulfilled ?


Also we should give BUBU more 15 years ? Hilarious...

Current Age = 73 (Football Age)

Plus another 15 = 88 Years Old... Incredible

najoke:


Pls put on your PDP Glasses and paste PMB quote saying he will make $1=N1 here .......and shame me....i have pasted what he said....pls paste urs now

AbdulHaram:
17 appointments for the north SS - 2 SW - 2 17+2+2 = 21 Please give him some credit, he's crawling moving!

AbdulHaram:

17 appointments for the north
SS - 2
SW - 2
17+2+2 = 21
Please give him some credit, he's crawling moving!

chukwudi44:


even a baby knows that was because of the fall in the price of crude oil.

Firefire:


You mean election gimmicks when Nigerians voted him as a "Miracle Worker" ? I pity the end of Buahri if he fails to fulfill all the campaign promises.

Considering the level of secrecy and corruption in Lagos the HQ of ACN now APC, I hate APC with passion.

softvio:
Barcanista ! ..the guy is so intelligent that he didn't allowed his sentiments or the fear to be against the so called e-apc robots to stop him with his predicted facts

Pidggin:


Ah I see, suddenly you don't understand English anymore.

Nnemuka:
Am no buhari fan but this fall in naira is affecting my work. Really sad to watch how everything keeps crumbling.

najoke:

Yes I dont…. Shame me now.… post it

RichDad1:

He's just a prophet of doom that will be shamed very soon.

wiseoneking:
Eeeyah. Dont blame Barcanista. Blame Buhari. He is the main prophet of Doom. He promised you #1 to $1 but ended up in hitting it to world breaking record of #245