MrRobot:
[size=13pt]Almost 100days in office and N1 != $1. Our Democracy has been scammed! [/size]

I wanted to blame you: but I remember that robot has no sense of independent thinking nor discretion.

Whenever currency flow is restricted, it restricts the flow of transactions and thus the flow of commerce and the movement of the economy.

Restricted currency flow is equal to restricting the economy and soon the decline of commerce follows until the entire market feels a slump, devaluation of the stock markets and decline of overall economic strength of the nation.

As a final result of market/economic slump, the Naira value slump follows.
This is how currency restrictions have a long term effect of devaluing the Naira.
I know the plan all along was to coax the Naira up by holding down the dollar, but only a test in futility, because the dollar is tied to the biggest flow of commerce in the world. Restricting the dollar restricts access to the biggest flow of commerce in the world.
The solution is in manipulating production as well as quality and economy supporting infrastructure. Why buy gasoline instead of local refining? Local car production? and the list goes on for things that can lift uo the Naira without holding down the dollar.
Slowly but surely. The only sure quick way to Make 1 naira equal to 1 dollar, is the full dollarization of the nigerian economy.

Maybe even the british pound would work better by seeing the naira value rise above the dollar.

The Naira value in Nigeria is not as important as the economic strength and stability. The naira value games being played recently are not good for the strength and stability of the economy.
Most Nigerians never transact in dollars and never notice much about the naira value compared to dollars. What they do notice is when the economy takes a hit because of currency flow manipulations.
One transaction of revenues is stalled and then another and another until it all accumulates into a stagnation of areas of commerce flow that gets passed down the chain to the common man who never transacted with a $ ever in his life.

Brainless folks who have never gone near BDC and Bank FX counter spewing trash and calling us wailling waillers. Even this CBN/govt rate is difficult to source. Nigerians always want to offer their uninformed opinion from their bottomless pit of ignorance.
Imagine what this policy has done to the likes of Dangote and multinationals that have foreign debt portfolios.. All the FDI in $$€£ must be paid back at higher rate even when there is paucity of FX. Also GMB, increased our debt to GDP ratio by allowing profligate govs to dump their debts on FG.. Our credit rating is going to be affected and borrowers are going to call back their loan.. Massive capital flight awaits us.

adebayo201:


Now it's to expect the unexpected... Nigerians, brace yourself MTN will add little charges to our recharge cards to cover-up the debt.

... u mean MTN will add hidden charges. ..

[quote author=Vstuffs post=37310721]They should do all they want....................the only important thing I need from mtn now is a reduction in data price and..also a stop to all their useless messages

Dats all

Evaromantik:

na im be say u no no wetin dey nah

so drop gist, Wetin dey?

neweraomo:
Whtt can I eat this morning nah

who released u from quarantine centre

AdaNri1:
so drop gist, Wetin dey?

na space all man dey book nah

ugoezeik:
who released u from quarantine centre

ur dad

Evaromantik:

na space all man dey book nah

as per land in Gwarimpa

AdaNri1:
as per land in Gwarimpa

pls i just observe your name.......are you my sister,am from Aguleri

Evaromantik:

pls i just observe your name.......are you my sister,am from Aguleri

no I'm not from Aguleri, but certainly a town in UmuNri

AdaNri1:
no I'm not from Aguleri, but certainly a town in UmuNri

k

Evaromantik:

k

this "k" lol