We keep chasing dollar but have we gained against the rand and cedis Lmfao

we are getting their

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.

The lesson is that we have a crooked and manipulated country.

People also tell LIES a lot.

The big lie is "market forces". There is no such thing in Nigeria. Hoarding, artificial scarcity, corruption, inefficiency are the determinants of prices.

We need Buhari so that institutions and big individuals start playing by the rules of the market.

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

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

stop deceiving yourself .Ifeanyi Uba get d praise n not your confused n sleeping on duty President

Burger01:
I love my president's 'doggedness'...no room for bullshiiits

You can't rule a country as complex as Nigeria if ain't gat balls..... Jonathan had no balls

Let me bookmark this.
I am surely going to refer to it in due course.

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

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

I think it's now our turn to say" the way dollar is going down, it will soon discover oil.

Fear of being exposed has made them leave our Naira alone. Useless politicians who only care for their pockets to the detriment of the poor masses. Na God go judge una

koboko69:


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

Anyway it's too painful to accept the truth. Did any other Nigerian from the Almajiri or the Brown roof region come out openly to make any comment to the falling naira?

This is a tip of the iceberg when we pple of the rising sun heads east!

ocholawealth:
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.

And you think you're making sense here? Smh...

The gains by naira in the last few days was an instant reaction to the categorical statement made by Buhari that naira will not be devalued. Speculators has no choice than to start offloading the dollars.

You need to learn about some economics. Not the sentimental crap you put up there.

dunkem21:
..All hail Ifeanyichukwu Uba ..

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

No, it's not connected to fall in oil prices. It's only connected to Mr Uba.

bennymark:



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

Oga leave GMB out this, he did not do anything. some cabals flooded the market with excess dollar so the supply was more than demand. Go to abokifx.com and read more. If there is anybody to be given credit then it should be uba. I remember vividly that he is still the same person that rescued Nigeria from last year's artificial fuel scarcity. I am not an Economist but before one says naira gains then the person should tell us if there is any change in oil price.

Burger01:
Lecture us on exactly the 'work' Uba did

He induced fear on greedy nigerians.
Imagine staking $2billion dollar asset just to prove a point. Lol

dunkem21:
..All hail Ifeanyichukwu Uba ..

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

Seriously I couldn't put my finger to it BUT there's certainly something this Uba guy knows that many of us don't. His threat to name the wicked and greedy dollar hoarders may have contributed significantly to this good news.

anonimi:


Let me bookmark this.
I am surely going to refer to it in due course.

No shaking bruh... We dey kampe. Buhari go deliver..and deliver good

mrvitalis:
One thing I love about Buhari is once he has taken a stand there is no going back

Same as Jonathan, especially when he makes an unfavorable decision, he always said "No going Back"

pls can anyone give us information which bdc or area where its sold for 250? a phone number if possible. cus the 4 bdc guys called all said no dollar. one said 310. diamond bank charged me 334 to 1usd. all this good news but im not getting it. help a brother out!!!

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

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

u are always on nl. Does it mean u are jobless? As in does it mean u have nothing meaningful to do with ur life?

waiting for the Naira to drop to N1/dollar before i celebrate.

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

I can see that you keep making reference to my earlier comment. But as I said in that my comment (go and read again), I do not expect the Naira to appreciate beyond N250/$ given the prevailing economic fundamentals. Any sudden injection of dollars into the market is not sustainable and will fizzle out. The 41 items de-listed by CBN will still scramble for dollars in the parallel market.
---
If ubah's rhetoric had anything to do with the sudden movement, then I'll say that will only affect the Speculative component of demand. I repeat, N200/$ is IMPOSSIBLE on a sustained basis except the economic fundamentals change in favour of the Naira. And why was he looking for appointment as Chief Consultant?

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 didn't see how it could b remedied anytime soon. Na d same people dey rip nigerians off since time immemorial. D naira is jus simply finding it's level becos someone(Ubah) has burst the bubble of d backyard businessmen. Awon cabal oshi

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.

I agree with the first sentence in your first paragraph. Uba knew something many of us didn't. And by uttering such strong words like he did, he actually did something. Some people are truly holding this system to a ransom.

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

better sell it now before it drops to #200

Holyman3:
J

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 io 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 cemetery 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?

And you think you're making sense here? Smh...he did absolutely nothing. Just mere talk.

The gains by naira in the last few days was an instant reaction to the categorical statement made by Buhari that naira will not be devalued. Speculators has no choice than to start offloading the dollars.

You need to learn about some economics. Not the sentimental crap you put up there.

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

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

I don't think there are enemies here. When the going is not right there must be critics who will wail and shout till it gets right, does that make em enemies? Nigerian youths need to get out of this low mentality of its between us and them, there is no competition between us, let's join hands to make Africa the envy of the world.

acunon:
What a good news, hope we dnt hear later that it increased again!
GOD bless Nigeria!

Never Again ... intervention beyond human reasoning

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

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

naira is trading at 250 to a dollar, and u say enemies don shame? U are pathetic. Grow up, this country is not about PDP or APC, it is not about PMB or GEJ.It is about Nigeria and nigerians, and without us these people won't be who they are

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?

Your post here is mere speculation. No fact.


The gains by naira in the last few days was an instant reaction to the categorical statement made by Buhari that naira will not be devalued. Speculators has no choice than to start offloading the dollars.

Where are all those economic professors telling us that its due to drop in oil price. Some people will be here quoting their economic textbooks while others are making millions. If u must succeed in life u must drop ur note and textbooks and do some things u were not taught in d class else u will remain a poor man looking for people to blaim

joannes7:
pls can anyone give us information which bdc or area where its sold for 250? a phone number if possible. cus the 4 bdc guys called all said no dollar. one said 310. diamond bank charged me 334 to 1usd. all this good news but im not getting it. help a brother out!!!

It's 250 in Lekki.

Your fx dealer wants to reap you off.

BIGTinfotech:
Good news!!!


Now, those few people that was responsible for causing the ish in the first place should all be identified and brought to book.


Or was this part of the emergency meeting held at aso rock yesterday?

Well said. But please don't say 'ish' bruh. This is 2016.

Ijaya123:


And you think you're making sense here? Smh...he did absolutely nothing. Just mere talk.

The gains by naira in the last few days was an instant reaction to the categorical statement made by Buhari that naira will not be devalued. Speculators has no choice than to start offloading the dollars.

You need to learn about some economics. Not the sentimental crap you put up there.

I have one good question for you Mr Economics.

Is this the first time Buhari said he will not devalue?

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


Can anyone remember ?

Did you archive that information