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Naira Drops To 251/dollar, External Reserves Now $29.7bn - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Drops To 251/dollar, External Reserves Now $29.7bn (22352 Views)

Naira Drops To 490/$1, 600/£1 / Naira Drops To 313.5 As Dollar Shortage Persists / Naira Drops, As BVN Paralyses Forex Market (2) (3) (4)

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Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by An2elect2(f): 8:01am On Dec 07, 2015
chernest2002:
It will soon clear some people eyes when the dollar comes to 500 to 1 dollar, Buhari means failure in all dictionary.

If only you know what PDP has done to this nation, you won't make a shallow comment like this.

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by agitator: 8:01am On Dec 07, 2015
new2020:


There is a new Moderator that is behaving like a juvenile idiot. New moderator you are a fool; very stupid idiot motherfu$cker. This guy keeps banning people, hiding comments left and right even when you are logically and respectfully critical without offensive words. Seun remove this new moderator before runs your business down. He will ban me for saying this. Useless moderator!

grin grin grin
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Adebaba1(m): 8:02am On Dec 07, 2015
this CBN governor should be sacked

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by calmdude(m): 8:08am On Dec 07, 2015
LastSurvivor:
We warned u guys about his F9 in maths and economics but u said it doesn't matter..
God will punish u all that help to put this monumental failure/tout as a president..
Still wondering how he got to the rank of general
by killing and jailing his opposition

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by calmdude(m): 8:11am On Dec 07, 2015
An2elect2:


If only you know what PDP has done to this nation, you won't make a shallow comment like this.

what has PDP got to do with this. That our president and his ministers have no clue as to how to give us the change.... It's one thing to talk now we need action, unfortunately it's only negative actions we can see

6 Likes 1 Share

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by nnachukz(m): 8:12am On Dec 07, 2015
Zico5:

U re a big fool, if ur hatred has covered ur reasoning. U think we Nigerians don't know what is going on. U re very useless and senseless
why ranting? Make your comment devoid of insult and move on. Everybody must not shamelessly worship your god. I repeat NOTHING TANGIBLE has been done since he came to power except almost dwelling in the air in the name of traveling.

1 Like

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Ethan015(m): 8:13am On Dec 07, 2015
Someone banned for being a pro Biafra?
if you r a pro Biafra click like

11 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by ChristineC: 8:15am On Dec 07, 2015
chosen04:
....So its NOT only me that they ban for my Pro-Biafra stance? Well! them go tire. I remain a proud Biafran till the end. "Thank Chukwu Abiama that i have neven been a niGERian. I maybe in the Zoo-niGERia but am not of niGERia.............Holy Book"
hmmmnn
In Phyno Voice

ife e bu n'ukwu bu ebelebe
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by uncjay(m): 8:16am On Dec 07, 2015
Kestolovee95:
Great news!

As in....GREAT?
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by chuose: 8:16am On Dec 07, 2015
[size=14pt]ABOKKIS ARE KILLING NIJA

MEANWHILE WE DEY WAIT ₦1 = $1

ABI DULLARD MEAN EIN GO MAKE ₦1,000 = $1

A BEG MAKE UNA ASK OH!
[/size]

1 Like

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by ayinde2ade(m): 8:17am On Dec 07, 2015
fitzmayowa:



My brother if you are waiting for this, you are on a long thing, this what the oyinbo's call "building castle in the air"
grin
fitzmayowa:



My brother if you are waiting for this, you are on a long thing, this what the oyinbo's call "building castle in the air"
na longest thing
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by LatestTrend: 8:23am On Dec 07, 2015
It should also increase with western union exchange. If not, it doesn't make sense to me.
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Coolcash1: 8:25am On Dec 07, 2015
For those who are economically inclined will know this is a difficult time for the CBN...the pressure on naira stem from increased demand for forex by importers since we import practically everything.

As an economist, I will like to say road to recovery will be slow, though and very painful.

The solution is to change from a trading and mono economy to industrialized and diversified one...Government should identify growth sectors and put in place an import substitution policy to protect them from foreign competition. Also, Nigerians need to change their orientation for foreign goods. This practice is never sustainable and would only crumble the economy now or later.

Its obvious energy sector can no longer sustain the economy in the light of growing population, unemployment, unfavourable macro economic conditions, inflation amongst others. An economic framework of this government is required at this time which provide lead to local and foreign investors on the economic road map of the government.

Frankly, I expect the president's economic team to be sleeping less than 4hours a day by engaging in more strategic thinking, review existing policies and develop new ones in order to bring the crippling economy out from the woods.

Yes, the previous administration have caused all these but the point is we have to move forward- no point crying over spilled milk!

4 Likes 1 Share

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by signz: 8:28am On Dec 07, 2015
Another bad news for this government is that OPEC will increase pumping oil into the market to shake off non OPEC members.

So by next year, Oil may sell below $30 pb. Lets not forget that we're fighting an expensive war at the NE.

However, we should be of good cheer and we should pray more for a sustained low oil price so that Buhari and our Legislators will see the need to devolve more powers to the states.

Our leaders must know that if they don't reduce Abuja's powers, There may not be any Nigeria in 2019.

1 Like 1 Share

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Nobody: 8:29am On Dec 07, 2015
I still ask again is our president working

1 Like

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by oloriooko(m): 8:29am On Dec 07, 2015
I do not want to believe that this is a calculated attempt by PMB to make more money off his estacodes paid in dollars undecided

Dollar rising like dough
PMB travelling out like dove :DD

Gid bless Nigeria
God help PMB
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Tinyemeka(m): 8:31am On Dec 07, 2015
kelvincoll:
embarassed is there actually light @ the end of this tunnel?

We regret to inform you that due to petroleum scarcity, there hasn't been any power supply nor fuel to power the gen sets. So the lights have all gone off at the end of the tunnel.

Sorry.

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by chiedu7: 8:32am On Dec 07, 2015
chuose:
[size=14pt]ABOKKIS ARE KILLING NIJA

MEANWHILE WE DEY WAIT ₦1 = $1

ABI DULLARD MEAN EIN GO MAKE ₦1,000 = $1

A BEG MAKE UNA ASK OH!
[/size]
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by pedrilo: 8:36am On Dec 07, 2015
GEJ had a very competent economic team, but we were blinded by these negative change agents

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Pidggin(f): 8:37am On Dec 07, 2015
N500=1dollar very soon

1 Like

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by repogirl(f): 8:40am On Dec 07, 2015
Boooooo harinomics at work! angry

NONSENSE!


Reason this for a moment... Who is making profit off these exchange rates?

CBN sells to Bureau de change at 197 per dollar
Bureau de change sells out to buyers at roughly 245 to 250

That is 48 to 53 naira profit per dollar

Bureau de change operators are from which part of Nigeria?

Chei Booohari! Empowering the north since 1983! grin

9 Likes 3 Shares

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by gp6liveth(m): 8:41am On Dec 07, 2015
Buharinomics is better than economics. Nigerians don enter one chance.

This will really affect me when I will be publishing my article on international journal. Exchange rate wahala.

Nigerians why did we voted for a certificate less president? Even myself can analyse economical issues better than Daura President.

I will keep praying for the best for Nigeria becos I will be affected if the country get worst.

Nairaland just modified my word. I wrote daura D... And they changed it to daura President. Moderator pls don't modify my words again.

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by galadee(m): 8:42am On Dec 07, 2015
Each time you feel like complaining that the Economy is bad.......remember Dasuki took $2.1 billion from CBN's vault and created a major crack in that Economy.
Everytime you want to wail that the economy is in shambles.....remember Dokpesi collected N2.1billion from our common wealth.
Each time you feel like complaining that people are losing their jobs on a daily basis, remember the N4.6billion collected for Spiritual purposes(still can't get over that) contributed to worsening our lot as a country.
Whenever you want to insult Buhari that nothing is working , remember Odili collected N100M for what purpose we don't know yet and that money can build a major factory
At a time you would want to say Buhari hasn't achieved anything yet, remember Bode "Tewonde" George took N100M and up until now, he hasn't account for it......that money ensured our economy was torn apart the more.
On days you believe you should abuse the CHANGE mantra, make sure you remember Dasuki said he was asked to distribute N10billion to everyone from kitchen cabinet to organisations to ensure your hero won the election.....that amount further depleted our National wealth......
Buhari met an almost irredeemable Economy and alongside his VP, they are trying to clean up the mess......
Some people's Fathers,Husbands, Children, Cousins and Nephews were sent to the battle front to go and die at the expense of their re-election bid.......
How CALLOUS was your hero? They watched people die like chicken and even had the guts to charge the brave soldiers with mutiny.........
If He is still remains your hero after these few confessions, then you are more callous than he is.......and I have NO iota of respect for you!!

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by tiwasiaife(m): 8:42am On Dec 07, 2015
An2elect2:


If only you know what PDP has done to this nation, you won't make a shallow comment like this.




Who is PDP or apc ? Tell me anybody who is in APC that was not in PDP before apart from bubu or drug Barron. or are they now saints for joining APC?

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by LastSurvivor: 8:43am On Dec 07, 2015
Zico5:

U re a big fool, if ur hatred has covered ur reasoning. U think we Nigerians don't know what is going on. U re very useless and senseless

U sound frustrated.. from one insult to another without making any valid point..
U don't win arguments by calling names but by reasoning n conviction. 9z day
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Originalsly: 8:44am On Dec 07, 2015
Immacula8:


The central bank had during its weekly forex sale to the BDCs last Wednesday refused to sell forex to operators that failed to render returns on the utilisation of previous forex bought at the official window


Why would some forex operators refused to file their returns? So in order words, am I right to conclude that we are the ones creating unnecessary problems for ourselves. I stand to be corrected though

I guess they did not uphold their end of the agreement. Should they be allowed to continue taking from the reserves without any returns?...maybe withdrawing under one pretext and using it for another?...like hoarding it?@ topic. Putting politics aside... the reality is the economy is based almost solely on oil and the price of oil has nose dived. Oil nose dived, the economy would nose dive regardless of who is in power. Buhari has taken some measures to slow down the rate of decline. Can more be done?...yes. Now for those blaming Buhari... ask yourself. ... when Jonathan came into power... how much was in the national reserves and what was the value of the naira? ...then ask yourself when he left office...what was left in the reserves and what was the value of the naira?.... and that was even before the price of oil got so low. The quicker we diversify the sooner the naira would stop its decline.
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by CrazyScientist: 8:47am On Dec 07, 2015
abouzaid:
if i talk now they would ban me again but one i know for sure is that at this rate, naira must sell for atleast #300 to a dollar by next year end. those moderators banning me, how much do you spend now buying things online compared to what you spend before may29? you guys should have a rethink of your banning policy. i have never insulted anybody here so why do you keep banning me for been pro biafra? we're your customers o, if you drive us away, lai Mohammed won't invite you to his next meeting with bloggers.

I'm not in support of Biafra, but take, 5000likes for you...
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Malakh: 8:49am On Dec 07, 2015
kelvincoll:
embarassed is there actually light @ the end of this tunnel?
nope....gross darkness is at the end of tunnel
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Hembelembe: 8:49am On Dec 07, 2015
Can someone pls tell me what d name binaries means?
In Igbo language it simply means... Change, failure,....
You can add yours undecided
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by mikky250(m): 8:50am On Dec 07, 2015
nnachukz:
Now it is becoming scary, gradually we will lose everything before this man's tenure ends. Nothing helpful is being done to remedy the situation. It appears we still do not have ministers or has the president sacked them?


Buhari no doubt had good intention to rule Nigeria but lack the modern day policies in governance. He left office after IBB overthrew him but never went back to school or got involved in any form of education to improve himself.

To be sincere with ourselves,with Osibanjo leading the economic team,I do not see us making progress economically. He is a prof but theory is different from practical. He can confirm from Fayemi.

The challenge Nigeria has now with Buhari is that when those who knows better advices him on what to do and how to revive the economy,he sees it as a fight or policy against the North especially on our FoREX policy.

May God help Nigeria in the next few years,its gonna be very very tough.

2 Likes

Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Hembelembe: 8:50am On Dec 07, 2015
I mean BUHARI

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