Na d artifical scarcity wey some people create na him cause d steep freefall. Dollar is supposed to be pegged somewhere around 200 naira but some people definitely saw an opportunity in the purported restrictions on sale to BDC's. Our economic team really looked lost because dey still claimed it was as a result of the all the previous govts inactions and even. Na d same people dey rip nigerians off since time immemorial.

dammytosh:
Where is Fayose and his illiterate supporters condemning Buhari for not Devaluing the Naira.


Sore losers.

Fayose is NOT a sore loser.
he was putting the Government on their
toes.

better! gud news is hard 2 come by in this country nowadays

dunkem21:
..All hail Ifeanyichukwu Uba ..

I thought people said that the free fall of dollar is connected to the fall in oil price ..

I will suppose yu did not read the part where Buhari's stand on NO Devaluation broke some Malu's hrts.

Anyways, you are an ipod, so I can't connvince a brainwashed fellow. Worship the Ubah

DeGenius3:


since he made some little revelations as to the
"Dollar Cabal" (Me Calling them that) seems like
the FG have since swinged into action

Maybe they didn't have any answer to the dollar
issue!

The Man I Learned Even Staked N500bn of his assets
just to prove that his recommendations will work

me also thinks that even the FG might have an insider
knowledge, otherwise, who are the guys benefiting from
this mayhem?

It's simple bro. CBN don't sell dollar to nobody. The guys at BDC have to source for dollar and if they go through all the trouble to get it you don't expect them to sell 250. Now what changed? Some big boys dumped a lot of dollars in the parallel market.

charliboy654:

Wat does ifeanyi ubah has to do with this

Why nairaland no get FO0L tab d same way they have LIKE

cupidhero:
Abeg o...make e go back to 350 or 340 before monday.

Enemy of progress

Chai!

Bad News for wailers

DeGenius3:


since he made some little revelations as to the
"Dollar Cabal" (Me Calling them that) seems like
the FG have since swinged into action

Maybe they didn't have any answer to the dollar
issue!

The Man I Learned Even Staked N500bn of his assets
just to prove that his recommendations will work

me also thinks that even the FG might have an insider
knowledge, otherwise, who are the guys benefiting from
this mayhem?

You still have not outlines the policy he undertook to bring down the cost of dollar

Na d artifical scarcity wey some people create na him cause d steep freefall. Dollar is supposed to be pegged somewhere around 200 naira but some people definitely saw an opportunity in the purported restrictions on sale to BDC's. Our economic team really looked lost because dey still claimed it was as a result of the all the previous govts inactions and even. Na d same people dey rip nigerians off since time immemorial. It's jus simply finding it's level becos someone(Ubah) has burst their bubble. Awon cabal oloshi

DeGenius3:


since he made some little revelations as to the
"Dollar Cabal" (Me Calling them that) seems like
the FG have since swinged into action

Maybe they didn't have any answer to the dollar
issue!

The Man I Learned Even Staked N500bn of his assets
just to prove that his recommendations will work

me also thinks that even the FG might have an insider
knowledge, otherwise, who are the guys benefiting from
this mayhem?

You still have not outlined the policy he undertook to bring down the cost of dollar

Good to hear that the Naira is appreciating again. The government should resolve every controversy surrounding the 2016 budget so that the passage and implementation will start asap. Each day the naira depreciates, billions are lost in businesses and jobs are lost as well. It is too early to celebrate, a lot of work needs to be done on the economy. Many attributed the free fall of the naira to the low oil prices but the Angolan currency and that of other oil producing countries in Africa have been stable. It will be very dangerous to play politics with the national economy. The time to act is now. Election has been won and lost. Let the winner face the business of governance and the loser to provide credible opposition rich in efficient alternatives to the ruling party. Hunger knows no tribe or political party. Many Nigerians are hungry and need good governance that ensures food security and job opportunities.

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

Where that Golden Parrot called Fayose sef?make him come run him Jangolova mouth again.

And u believed this? Gullibility is an .....

lifestyle1:
Some time ago I predicted naira will appreciate against the dollar.


Can anyone remember ?

It hasn't duhhhhh

Dollar is currently a safe haven investment class supported by the fed's stance on interest rate appreciation coupled with the junk status of commodity prices

The volatility experienced in the parallel market has no direct bearing on the official pegged price

Where exactly is it selling for #250 coz I'm tired of all dix media aides doing a useless job for their paymasters. Here in Yaba its #300 so who is circulating this fake news

[s]

Sunnycliff:
I think Ifeanyi Ubahs words was a lifeline to the recovery of the naira. He voiced out and that sent cold shivers down the spines of the speculators and staked his assets and that made speculators to have a rethink. Ifeanyi Ubah saving Nigerians since the days of Abacha. #nwaigbo

[/s]

Tnk u lord 4 saving ur ppl

The African Israelites now attribute the gain to Uba.


BUBU till 2090

Kudos to Dr. Ifeanyi Ubah, i want to believe there is something he knows that most Nigerians don't with the exception of the elite. I think Ubah's statement provoke this reaction of change in exchange rate...... Needless to say is, the whole exchange rate issue is artificial, some top folks just decided to hoard foreign currencies to suffer the common man. Ubah's was about exposing the big men involved and to safe their faces, they decided to start correcting the anomaly created by them.

[s]

dunkem21:
..All hail Ifeanyichukwu Uba ..

I thought people said that the free fall of dollar is connected to the fall in oil price ..

[/s]
Better to be silent and be thought a fool than opening mouth and remove all doubt.

[s]

dunkem21:
..All hail Ifeanyichukwu Uba ..

I thought people said that the free fall of dollar is connected to the fall in oil price ..

[/s]
Better to be silent and be thought a fool than opening mouth and remove all doubt.

What if PMB had given in to pressure to devalue?

DropShot:
[s][/s]

E pain am oooooo

DropShot:
[s][/s]

E pain am oooooo

Dia political daddy fayose shud come up wit proves y m suppose to biliv e loves naija more dan Muhammadu who refuse to bow down to pressure to devalue d Naira. U won't hia him speak at dis very moment when e slps, drinks n wallow in rubbish water of shame. I bet u, he is somewhere in ikere-ekiti, rolling tyre wit Kids almost unclad under d heavy pouring rain as his gullible fans n lovers only biliv dats how u take governance closer to d pple.

[s]

Sunnycliff:


E pain am oooooo

E pain am oooooo

[/s]

odiks:
…As BDCs back Buhari’s no devaluation stance

THE naira gained about 30 per cent on Wednesday against the dollar at the parallel market to trade between N250 and N280 from N364 at which it sold on Tuesday ending two weeks of free fall when it peaked at N403 against the greenback at the parallel market last week Thursday.

The local currency had begun a gradual recovery on Friday, firmed sharply at the parallel market yesterday as retail traders, having anticipated a cut in its official rate and stocked up on dollars, bought the local currency back after the government said it would not devalue.

The naira rate closed at N197.50 on Wednesday at the official interbank market, where the CBN limits introduced late last year to defend a currency peg have restricted access to dollars.

That has funnelled demand for dollars on to the parallel market, a flow further fuelled by speculation of a possible weakening of the peg.

The Acting President of the Association of Bureau de Change of Nigeria (ABCON), Aminu Gwadabe, said the market was reacting to President Muhammadu Buhari’s ‘no devaluation’ stance.

He, however, expressed ABCON’s support for President Buhari not to allow further devaluation of the naira.
Gwadabe, who said the association was in partnership with the authorities to step up efforts to rid the market of illegal currency traders stated: “Like the President indicated recently, since the only significant thing we export is crude oil, devaluation will do more harm to the economy than good. So we also say no to further devaluation of the naira!” he stated.

He also affirmed ABCON’s backing to ensure its members comply with the Central Bank of Nigeria’s regulation as well as operate within the approved margin of 3.5 per cent with the hope that the demand and supply situation would improve to restore calm and stability in the market.

http://sunnewsonline.com/new/naira-gains-30-sells-for-n250dollar/

[size=16pt]PLEASE TELL ME WHERE YOU BOUGHT DOLLAR FOR N250. I ALSO WANT TO BUY. SMH [/size]

APC has come again with propaganda, just left zone in abuja,bought dollar for #320=$1 now .not up to 2 minutes.
Apc doing what the know how to do best.
Lies!!!!

obailala:
The body language of Ifeanyi Uba definitely forced some forex rats to release the forex they were hiding. Just the same way his statement about flooding Nigeria with fuel forced every fuel hoarding rat to release the products they were hiding in June 2015 thereby ending Nigeria's worst fuel scarcity ever. The strong statement of Buhari that he wasnt still going to devalue even if it got to N1000, that also helped to cripple the activities of the hoarders.

The lesson from these events is that, sometimes you can get something done without necessarily doing anything.

Nice Eye Opener There. I Love Ur Conclusion. We Should Not Be Pressurised By Pressing Circumstances To Make Haste Decisions; There Are Times All U Need To Do Is To Be Patient Not To Make Rash Decisions. God Bless Nigeria, God Bless U, And God Bless Me Too.

Sunnycliff:
I think Ifeanyi Ubahs words was a lifeline to the recovery of the naira. He voiced out and that sent cold shivers down the spines of the speculators and staked his assets and that made speculators to have a rethink. Ifeanyi Ubah saving Nigerians since the days of Abacha. #nwaigbo

Lol. Ubah now knows more than the FG in power?

Lol stake assets with who?

U actually think any FG will "BET"

LOOOOOOOOOOOOOOOOOOL

una funny die.

Ubah nor even receive 1 single attention from the FG. Una dey yarn dust

lifestyle1:
Some time ago I predicted naira will appreciate against the dollar.


Can anyone remember ?

Is it appreciate or depreciate. U kip sayin dat all d time

J

Ijaya123:


What did he do?

Here is what he did. After weeks of keeping quiet, he decided to talk. He went all out on a national TV and said, "The dollar scarcity is artificially created to enrich some powerful people. If the government appoint me as a consultant, without payment, the dollar will fall to 200 naira under one month". Cool right.

He went further to stake his over 500Billion assets on it.
Immediately after his tv show, dollar fell from 400 to 350. That's 50 naira of your money there.

Two days after his speech, the cabals convened an emergency meeting, in attendance were Osinbajo, Saraki, Atiku etc. The sophisticated people told us the meeting was for Saraki to beg them not to probe him further. How on earth would Saraki call a public meeting to lobby people against this probe? Such things are done in secret.

To cement Uba's claims, the chairman of BUA group said that Federal government is selling our national dollars/fx to Dangote alone to build factories outside Nigeria. It's here on nairaland.

Less than 24 hours later, Dollar tumbled from over 350 to 250.

Are you still asking what he did?

kodded:
I thought apc Yoruba sycophants claim that it is impossible for the naira to go up within a month .?












I keep saying it untill e remove tribalism from us we will be going round the circle

u mean Bevista Ifeanyi uba did in two days wat buari dullard could not do in 9 months

dason4life:







It is too early to start this nonsense.



javascript:void(0);
What has Ubah got to do with this now?

Just as "The Blind Bartimaeus" was born blind, some nairalanders were born "STUPID"

You not excluded