Bank sold dollar to me today at the rate of 300 per dollar.

To a common layman on the streets of LAGOS, what we are after is the Black market rate not inter-bank rate abeg

bettercreature:
We must return the peg on naira otherwise this western people will destroy our currency like they did to zimbabwe

Are westerners the ones ordering for the dollar. Abeg use your head. Just look at Nairaland adverts and count how many items presented are made in Nigeria then realize that it is your fellow citizens to blame, crying about jobs on the one hand and complaining about scarce foreign exchange to BUY things that can be made on the other. Every major street front including residential premises throughout Nigeria, I mean every state in Nigeria are occupied by SHOPS. That is your problem not foreigners, because buying and selling is easier than making stuff. No be only peg, handcuff na. Peg means using every dollar in CBN savings to suport the importation of italian shoes, french perfume and swiss cheese, continu....

Nigeriatraining:
Bank sold dollar to me today at the rate of 300 per dollar.

What are you buying the dollar for?

herzern:
Buhari's economy team has no framework......

An average professor of Economics in University of Ibadan will perform better!......

Afonjas talkin from other side of their mouth as usual
No be una vote am in firstplace lubbish

Sha me am happy let it fall sotey wen ma big bro for usa send me 100dollar i cash out 40k.... Himagine

Maybe next month sha.... Cos dis month i collect 35k walai

E be lik say dis bros go start to send me 200dollar oh
Chisos..... Hinfact dat kind money i fit date omotola pikin

jmoore:

Yes, lets ban all importation of Petrol and Kerosene.

I swear this is the first major thing
Then fix electricity
Then build refineries that actually work

If they can do these 3 things, it will go back down to at least 150/$1

Naira is dancing oshelege in this government.

It's better Buhari step down and step aside , it's no longer a joke again before nigeria will start surviving on foreign aid .

Krismart:
Na 2day?

Our demand now outstrips supply...........make we go earn our dollars as me self dey hustle to earn the dollars for my business needs.

How many all time low do we have ? When it was 400, we heard it was all time low.

Reference:


Are westerners the ones ordering for the dollar. Abeg use your head. Just look at Nairaland adverts and count how many items presented are made in Nigeria then realize that it is your fellow citizens to blame, crying about jobs on the one hand and complaining about scarce foreign exchange to BUY things that can be made on the other. Every major street front including residential premises throughout Nigeria, I mean every state in Nigeria are occupied by SHOPS. That is your problem not foreigners, because buying and selling is easier than making stuff. No be only peg, handcuff na. Peg means using every dollar in CBN savings to suport the importation of italian shoes, french perfume and swiss cheese, continu....

You captured my thought! We think there is nothing wrong when an economy is dependent on buying and selling of imported goods with easy excuses that local production of some easy stuffs is not possible. Many will be forcefully weaned by the present situation!

Kenyan FX market is very stable because only few are concerned about foreign exchange, so one can easily walk into a Forex shop and buy foreign currency of choice.

Next week, the City of Nairobi will be hosting 10,000 delegates coming in for the Sixth Tokyo International Conference on African Development. all hotels are booked, cab services pre-booked, SMEs into arts and crafts are putting finishing touches to their products which would be sold off to the thousands of foreigners as no one visits Kenya without going back with Souvenirs..........just imagine how many million of that dollars will come into the Kenyan economy from a two day conference, trickling into the pockets of the citizens

Naira is bullshit now

herzern:



There are some Niqerians who were not part of the mismanagement of the economy when it was booming. .

Should they also suffer for it

Unborn children....should they also suffer for it??


Bro.....haba!

All Nigerians, dead or alive, whether you held public office or not, you are part of the problem. You are the reason why the country is the way it is. When you collect salt or rice to vote, hail fayose for his s.tupidity, take sides between GEJ and PMB, (they are both useless), applaud when suspects are burnt in the streets, give bribe, take bribe, dump refuse on the streets, etc, you are directly making Nigeria a terrible country. It takes every citizen to make a country great. One person or a group of people cannot ruin it. It takes a collective effort to ruin it.

onatisi:
the bank exchange rate will peak at 400N, the dullard president wasted too much time in nipping this problem at the bud immediately he came into power instead he was busy jetting all over the world taking paparazzi pictures.

u are so correct on this one , the bank charges 380 for a dollar now just did a transaction on my master naira card .. Buhari I don't care attitude upon resuming office is a backlash of wat the economy is goin tru

But what the CBN can do is to go after the key bleeders of our scarce forex, giving the economic intelligence to FIRS and coming down heavily on them with massive taxation and floating VAT rates to further 'encourage' them to buy Nigeria. Let it publish these guzzlers of fx. You can never tell what info may come out from whistleblowers.

pippimp:


All Nigerians, dead or alive, whether you held public office or not, you are part of the problem. You are the reason why the country is the way it is. When you collect salt or rice to vote, hail fayose for his s.tupidity, take sides between GEJ and PMB, (they are both useless), applaud when suspects are burnt in the streets, give bribe, take bribe, dump refuse on the streets, etc, you are directly making Nigeria a terrible country. It takes every citizen to make a country great. One person or a group of people cannot ruin it. It takes a collective effort to ruin it.

They dont see it that way. Ive had lots of arguments on people over this. We all do our part ..... but they argue that change MUST come from the top. The bad decisions were influnced by the people below....

Pavore9:


You captured my thought! We think there is nothing wrong when an economy is dependent on buying and selling of imported goods with easy excuses that local production of some easy stuffs is not possible. Many will be forcefully weaned by the present situation!

Kenyan FX market is very stable because only few are concerned about foreign exchange, so one can easily walk into a Forex shop and buy foreign currency of choice.

Next week, the City of Nairobi will be hosting 10,000 delegates coming in for the Sixth Tokyo International Conference on African Development. all hotels are booked, cab services pre-booked, SMEs into arts and crafts are putting finishing touches to their products which would be sold off to the thousands of foreigners as no one visits Kenya without going back with Souvenirs..........just imagine how many million of that dollars will come into the Kenyan economy from a two day conference, trickling into the pockets of the citizens

I don't know why , I've always liked your posts, am sending you a P.M right now

Babzilla:

They dont see it that way. Ive had lots of arguments on people over this. We all do our part ..... but they argue that change MUST come from the top. The bad decisions were influnced by the people below....

The only thing you are i can do is try to enlighten these people. It is not going to be easy though. It is not easy to change half a century of mental degradation.

still waiting for one naira to equal one dollar

Miles300:
u are so correct on this one , the bank charges 380 for a dollar now just did a transaction on my master naira card .. Buhari I don't care attitude upon resuming office is a backlash of wat the economy is goin tru

The demand for dollars will keep rising and the cost will keep rising. This government has no idea how to curb the nation economic problem

I'm curious to know what the rate will be like by November/December another high demand season

diva90:
I'm curious to know what the rate will be like by November/December another high demand season

400-500

I heared one man say this

tushbobo:
Looking inwards seems to be the only solution. We are too import dependent.

That is a major step towards solving the problem. We should also be looking at this restructuring of a thing.

onatisi:

When I said this in July ,many thought I was kidding

This man! You be fortune teller!! Why didnt i see this?
Imagine if i bought 10m naira worth of dollars then!!! Gaddamit

Mumu

veekid:
I still haven't get the jerk between This dollar and Our naira. Please who can explain to me?

Not we but you and your cronies

Barezzi:

This man! You be fortune teller!! Why didnt i see this?
Imagine if i bought 10m naira worth of dollars then!!! Gaddamit

The demand will keep rising because local production will keep on reducing due to the fact that many companies wont be able to stay afloat. The huge population and market needs constant supply of goods which means higher importation,more smuggling and more pressure on the naira. The FG will be forced to borrow more and more and more money just to meet basic responsibilities. Some banks will be forced to stop forex transactions on their cards totally as time goes on

I though that someone from BDC said it will be 300 in 1 month.lol

Cc: Freeworld23

ladyF:
I though that someone from BDC said it will be 300 in 1 month.lol

Cc: Freeworld23

Don't mind that road-side economist.

That is how CBN told Buhari that rate would eventually settle at 250. For this Nigeria? How e 1 tk happen?

-Lord

Zombies n insults be like buhari n incompetence

MadCow1:



So you felt the need to be a disrespectful twerp while standing on your high horse of righteousness?

Pfft..

I have nothing to say to you.. Go learn some manners..

u get tired of reading this poo every time