Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,149,918 members, 7,806,669 topics. Date: Tuesday, 23 April 2024 at 08:26 PM

Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market (17355 Views)

Naira Plunges At Interbank Market / Naira Hits All Time Low At Interbank Market / Naira Crashes To N285/$1 At Interbank Market (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Lateralmaths(m): 8:21pm On Jul 27, 2016
So sad. We have a President who rewards loyalists at the expense of Nigeria. And we have supporters of the President who are blind and deaf to his shortcomings at the expense of Nigeria.

I've got news for you; NIGERIA WILL RISE AGAIN.

4 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Mrchippychappy(m): 8:22pm On Jul 27, 2016
Naira be like "NOW I'M FREEEEEEEEEEEEEEEEEE! FREE FALLING!"

4 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by bitingcool: 8:22pm On Jul 27, 2016
Buhari's image has been tainted in the east, west and south, I don't know if he still reigns supreme in the north . He has fueled it by his silence on ethnic clashes, his lopsided ethnic appointments, his silence on the rising religious intolerance and his dormant ministers and non existing economic team . He forgets that the politicians surrounding him will push him further as long as their positions are secure.

What we voted for is not what we see.

The truth is the way Buhari is going, he may not be reelected. He is as clueless as GEJ. I still blame GEJ, if he made good use of the opportunity he got as President, we won't have a Buhari today.

All in all, may Nigeria win eventually. Not buhari or any selfish fool. Nigeria, and it's citizens.

5 Likes 1 Share

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:23pm On Jul 27, 2016
egbonnla:
I still don't understand why PMB is retaining Godwin Emeifele as CBN Governor.
i just dont understand why o,e dey baffle me
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by FabioPeter: 8:25pm On Jul 27, 2016
It's a lot easier to negotiate with Niger Delta Avengers than Boko Haram.
To strengthen the Naira, we have to export crude, ramp up our reserve and stimulate other industries.
This isn't space science. Does Buhari listen to his economic adviser? or could the ear problem be the reason?
For the records, in the last 5 months we have lost 30b Naira daily due to pipeline sabotage.

Someone please call an ENT specialist.

4 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Mrchippychappy(m): 8:28pm On Jul 27, 2016
egbonnla:
I still don't understand why PMB is retaining Godwin Emeifele as CBN Governor.

Typical ofe-nmmanu reasoning, shey na CBN governor you blame for the economic woes of the country or Kemi "omolata" Adeosun who for some strange reason got the job of Finance minister. Olodo.

6 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by drnairalov: 8:30pm On Jul 27, 2016
The most useless government in the world. why remove the peg at the interbank rate when they were yet to find a solution. .Buhari is an extreme dullard and will only make the country get into more woes....it is only stupidity that will make one say they should give this useless government more time..

Fam people are dying out of hunger, is it until they die there will be an intervention... a country that can barely survive yet no solution in months now. Those bastards in government are not feeling the plight of the people...so they don't where the feet hurts. people find it hard to travel now..the government has failed...except there is an intervention, this government is dooomed... imagine!!! yes PDP was bad, it wasnt as worst as we find it now, We wanted a change 4 better, but the only change we hear is how PdP crimes are bringing us down. Tales of a useless confused government. Gosh I spit on the day I supported this retarded Buhari and his government.

3 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:31pm On Jul 27, 2016
egbonnla:
I still don't understand why PMB is retaining Godwin Emeifele as CBN Governor.


Well, I am tempted to say the same thing until i remember the ministers he appointed.

The problem is not Emiefele but Bubu. If he spend as much time fighting for the economy as he is fighting corruption people... we might have an headway. He has made corruption his only priority

1 Like

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by onatisi(m): 8:31pm On Jul 27, 2016
There is nothing more to add.
Sai Baba

1 Like 1 Share

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by worlexy(m): 8:33pm On Jul 27, 2016
VocalWalls:
Google Adsense... grin

Please hit N500
I'm sure you have relations that earn in naira so keep praying for the downfall of your country, whether directly or indirectly it will affect you too
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nne5: 8:34pm On Jul 27, 2016
Houseofglam7:
Wake me up when 1#=1$
You go sleep tire be that. grin grin

5 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Chimezie198(m): 8:34pm On Jul 27, 2016
Houseofglam7:
Wake me up when 1#=1$
u go sleep taya na

1 Like

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by worlexy(m): 8:36pm On Jul 27, 2016
onatisi:
There is nothing more to add.
Sai Baba
Are u a professor of economics or Nostradamus of our time. pls enlighten me on the way forward to this free fall of naira.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by abraka00(f): 8:40pm On Jul 27, 2016
JoeCutie:
Nigeria has never been the best nation of the world, yes! But she had never been this bloody. Nigeria is bleeding profusely!

I grew up to meet a "bad Nigeria"
Nevertheless, it took The PDP (Obasanjo = 8years + Y'aradua = 2years + Jonathan = 6years) good 16years to bring Nigeria from her 'original' bad state to worse...

And now, it has taken The APC (Buhari) just 1year to bring Nigeria from worse to worst; to an all-time low; to her bending knee.

Wow! Nobody (Party) does it like the APC... undecided
Legendary!
May you live long. You have said it all. Thanks my brother.

4 Likes 1 Share

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by VocalWalls: 8:42pm On Jul 27, 2016
worlexy:
I'm sure you have relations that earn in naira so keep praying for the downfall of your country, whether directly or indirectly it will affect you too

lol... have they been praying for me too? if so, they should also wish me well
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:43pm On Jul 27, 2016
Kaira333:
Are u well at all?

Must u question him b4 u'll know he's sick?
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:45pm On Jul 27, 2016
egbonnla:
[s]I still don't understand why PMB is retaining Godwin Emeifele as CBN Governor. What the CBN and his cohorts are doing to Nigeria economy is worst than coup. They are deliberately reeling out policies that will further impoverished Nigerians so that PMB will eventually become unpopular. The irony of the matter is that PMB does not know his true friends. His true friends are the so call wailers who are lamenting the fact that things are getting worst under his regime.
How do you explain the fact that CBN increased MPR to 14% when what we are presently experiencing is cost pushed inflation and not demand push inflation? It is quite obvious that the people PMB surrounded himself with are deliberately misadvising him
I will recommend that the president update his knowledge of Economics before it is too late![/s]

Typical yoruba...blame Igbo. The economy has been great under most of Emefiele tenure. Blame your sister Kemi Adeosun for zero economic blueprint.

6 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by JoeCutie(m): 8:45pm On Jul 27, 2016
abraka00:
May you live long. You have said it all. Thanks my brother.
Thank you, dear. And may you live long too. smiley

3 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Bonjelomo: 8:48pm On Jul 27, 2016
The last time nigeria had a negative GDP before this year was when Buhari was in power in 1984!

Sai Baba!!.

5 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by spafu(m): 8:52pm On Jul 27, 2016
romanus455:
pls teach me how to post on front page pls
Call Lalasticlala on Giroud hate jiro, one wine, nice night, tree late, fall pipe.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by onatisi(m): 8:54pm On Jul 27, 2016
worlexy:
Are u a professor of economics or Nostradamus of our time. pls enlighten me on the way forward to this free fall of naira.
To be honest it is really scary and frightening when one thinks and see what is about to happen. The reason why many still don't feel the economic pinch or feel that the dollar issue doesn't concern them is because state governments haven't started retrenching and sacking people,by the time they start in August/September ,the situation is better left imagined .

1 Like

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by IstandWitBuhari: 9:00pm On Jul 27, 2016
Lol
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Akaujaa(m): 9:00pm On Jul 27, 2016
About 60-70% of the things we use in Nigeria are made in China. From electronics to foot wears, clothing materials, phones and its accessories, and even foods like rice, spaghetti etc. China I think barely imports anything. Now, the question is, how did they get to this stage? However they got to this stage, the obvious is that it must have taken the enactment of a very strong economic policy by their leaders(which at that must have affected the living conditions of its populace) to make China what it is today. Am been forced to think that that is the same thing this present government gave in mind. But unfortunately, our people do not have the spirit and patience.

2 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Demainman1: 9:04pm On Jul 27, 2016
Akaujaa:
About 60-70% of the things we use in Nigeria are made in China. From electronics to foot wears, clothing materials, phones and its accessories, and even foods like rice, spaghetti etc. China I think barely imports anything. Now, the question is, how did they get to this stage? However they got to this stage, the obvious is that it must have taken the enactment of a very strong economic policy by their leaders(which at that must have affected the living conditions of its populace) to make China what it is today. Am been forced to think that that is the same thing this present government gave in mind. But unfortunately, our people do not have the spirit and patience.

All I can say is that you are a dullard just like your presidiot buhari. Please go and educate yourself. You have no right to be on this forum.

2 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 9:06pm On Jul 27, 2016
Well, like I have said here earlier.....the problem is the falling oil price.

Let me tell you a secret....Nigeria has had no good economic policy for decades.

What we have had is an economy based on the sale of whatever resource is reigning. (Right now it is oil). Problem is, we do not control the price of oil, and oil prices right now are falling , leading to the problems we face today.

Which is why I was not moved by the ''prosperity'' of the gej era...which ended by 2014 anyway. We just used oil money to paper over the cracks. Now that money is gone....and the cracks are showing.

The road out of this is the long and hard austerity route to industries. We have no choice.

2 Likes

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Demainman1: 9:09pm On Jul 27, 2016
egbonnla:
I still don't understand why PMB is retaining Godwin Emeifele as CBN Governor. What the CBN and his cohorts are doing to Nigeria economy is worst than coup. They are deliberately reeling out policies that will further impoverished Nigerians so that PMB will eventually become unpopular. The irony of the matter is that PMB does not know his true friends. His true friends are the so call wailers who are lamenting the fact that things are getting worst under his regime.
How do you explain the fact that CBN increased MPR to 14% when what we are presently experiencing is cost pushed inflation and not demand push inflation? It is quite obvious that the people PMB surrounded himself with are deliberately misadvising him
I will recommend that the president update his knowledge of Economics before it is too late!

No blame for the finance minister at all. Only the CBN governor should be sacked. Why do you have to make your tribalism so glaring?
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by HzRF(m): 9:12pm On Jul 27, 2016
Hmm

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Mrchippychappy(m): 9:13pm On Jul 27, 2016
JoeCutie:
Nigeria has never been the best nation of the world, yes! But she had never been this bloody. Nigeria is bleeding profusely!

I grew up to meet a "bad Nigeria".
Nevertheless, it took The PDP (Obasanjo = 8years + Y'aradua = 2years + Jonathan = 6years) good 16years to bring Nigeria from her 'original' bad state to worse.

And now, it has taken[size=15pt] The APC (Buhari) just 1year to bring Nigeria from worse to worst[/size]; to an all-time low; to her bending knee.

Wow! Nobody (Party) does it like the APC... undecided

[size=15pt]Legendary![/size]


5 Likes 2 Shares

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Miles300: 9:13pm On Jul 27, 2016
I wrote here on nairaland before this floating of currency thing was implemented .. I said it was never goin to succeed cos such measures was for a short term plan to stabilize the currency and further no country has ever succeeded with this method APC supporter where callin me unpatriotic, even Uk tried it around the 90s and her currency wept .. I studied politics and international relations here In Sweden and was taught all this things .. Then how much more a federal bank Cbn who ought to know this principles are not effective for a developing country like nigeria .. This things are not ordinary some people don't just want to see nigeria great at all cos government is a joke in this nation . This it mean we don't have good economist in the nation or wat .. Cbn governor should resign and minister of fianance cos they have lost ideas .
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Akaujaa(m): 9:19pm On Jul 27, 2016
Demainman1:


All I can say is that you are a dullard just like your presidiot buhari. Please go an educate yourself. You have no right to be on this forum.

It's a shame you display your frustration, illiteracy and idiocy in public. If you are not ridden in wanton ignorance, you should know that this forum exists because it is able to accept diverse opinions. If you are looking for where your opinion alone would hold sway, you better relocate to your village so you can dine and wine with illiterates like you. I don't blame you because the proliferation of the social media has placed everyone on the same pedestal where even nonentities put your bags higher above the height of your hands.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by worlexy(m): 9:40pm On Jul 27, 2016
onatisi:

To be honest it is really scary and frightening when one thinks and see what is about to happen. The reason why many still don't feel the economic pinch or feel that the dollar issue doesn't concern them is because state governments haven't started retrenching and sacking people,by the time they start in August/September ,the situation is better left imagined .
it's really a pathetic situation, but what can actually be done? Cos our economic team seem to be clueless
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by onatisi(m): 9:41pm On Jul 27, 2016
worlexy:
it's really a pathetic situation, but what can actually be done? Cos our economic team seem to be clueless
As a nation or individually?

(1) (2) (3) (4) (Reply)

8 Ways To Raise Capital For Business In Nigeria / Tin Can Road: Union Orders Members To Shut Seaports / Dollar Rise: EFCC Continues Crackdown On Cryptocurrency Platforms, Others

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 46
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.