KINGwax007:
I dnt knw whybqe Nigerians are so bent on destroying ourselves!

The demand for naira in this country is alarming...

It all boils down to fraud and the ease to launder money...

I thought that in this change regime there is no more corruption, fraud and easy money to launder?
Are you saying that nothing has changed and we are worse off on corruption, fraud and money laundering?
Please don't let the zombies hear you oh.

Localamos:


You, my friend, are the result of a poor education system. If you don't know the workings of an economy, then shut your trap

You my friend have to understand that somethings i agree are controlled by external forces..but then, does this administration look like one that can run things efficiently based on what we have seen since may29 2015??

Its no good having a good plan if you cant execute it. And yes Buhari is the target man, he gets all the Praise and blame equally.

And i hope you went to harvard?

Good morning Nairalanders

You all should Join me and Praise the Good Lord in Heaven for he has done me well

He has made me to be among the Living, he made me to see this new day without pains and complains

God had done me well

He has done a great Miracle to my family therefore I'm to share it with everyone on Nairaland

Amah70:
But if one may ask:

was Buhari on Owerri weed when he promised to make one Naira exchange for one Dollar if we voted him to become president of Nigeria?

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Did Buhari promise that? Even if he did promised, believing it is very stupid of you. The wailers are the ones without PVC.

Okay ...and I gained 10lbs.... smh

abumeinben:
Thought they said demand and supply forces would rule the Naira tussle...why would CBN intervene?

Someone should tutor me.

The problem is that we do more of importation than exportation. so the demand for dollar will always be on the rise, until we do more exportations. U will agree with me that this country currently depends on importations, which is not too good. Our currency will grow only when we sell our own goods abroad instead of always buying from abroad.

bobo65:


What's d good news pls

Naira Gains 5.2 Percent After CBN Intervenes . I'm sorry if that sound like a bad news to you, such is life.

Pprovost:
The wailer above me though

Its funny that good news about Nigeria is bad news to some Nigerians




To the topic:
I will support any move by this government to reduce importation and encourage exports to grow our currency. CBN can not intervene for ever.

Tell the government to make available information that will make that possible. Was it not here someone was looking for export information but no one is willing to talk because the information is not readily available.

The most painful fact is that they're not even making any plans of delivering us from this dollar slavery..One minister telling us that we will start producing toothpicks in ten years to come..Are there anything on ground to show that the project is achieveable? No! All na lie lie govt.

Amah70:
But if one may ask:

was Buhari on Owerri weed when he promised to make one Naira exchange for one Dollar if we voted him to become president of Nigeria?

Anything can happen!!! with prayers Can't all men of God nationwide join forces to activate this dream Then all atheists will become Christians without further evangelistic sermons.

Pprovost:
The wailer above me though

Its funny that good news about Nigeria is bad news to some Nigerians




To the topic:
I will support any move by this government to reduce importation and encourage exports to grow our currency. CBN can not intervene for ever.

In as much as everyone would love same, which genuine action as the government taken to even ensure we are sufficient with locally made products before talking about exports. The crippling power sector, unfavorable policies and overbearing tax burden is further killing our SME.

Adesiji77:

The demand is just incredible
The foreign portfolio investors appeared not to be convinced yet.
Lots of LCs and BCs are on evergreen waiting lists
Cc: lalasticlala, dominique, Mynd44

All these measures by cbn will have very little effect. We are talking about 180 million people that depend on imported goods for about 70% of the needs!!
The only solution is to reduce the dependency on imported items and improve local production. But that too has been grossly affected because the FG has no money to finance projects which stimulate production.the nation oil revenue has been slashed by almost 50% if not more ,no thanks to the dumb political behavior of buhari. Very very soon ,the FG will have no choice but to approach the work bank or Imf for money.
The first panacea to this problem is for buhari to douse the political tension in the nation but he wont do that.

mekonglobal:
The most painful fact is that they're not even making any plans of delivering us from this dollar slavery..One minister telling us that we will start producing toothpicks in ten years to come..Are there anything on ground to show that the project is achieveable? No! All na lie lie govt.

The problem is very very severe and despite the fact that people are lamenting now that things are hard ,the honest bitter truth is that this is just the beginning of what is to come . If care isn't taken a loaf of bread may sell for 500N

Pprovost:
The wailer above me though

Its funny that good news about Nigeria is bad news to some Nigerians




To the topic:
I will support any move by this government to reduce importation and encourage exports to grow our currency. CBN can not intervene for ever.

apart from oil what else can we export in large quantities n for a long sustainable time

Try and error govt. Who have they eepp

Truth234:


You were charged parallel rate, this is interbank rate. By Monday, BDCs would have reflects current development.

I have seen this movie before,it doesn't end well. Don't expect the current development to make more than a 5 naira difference come Monday.

kishimi8:
Don't know how this stuff works, tried testing my atm by depositing funds in my amazon gift card account only to be charged 396, where do they get their own rates, luckily it's was a 1 usd test transaction

Sanusi said that the difference between the official rate and black market must never be more than 3%. It's present close to 30%. Until government closes that gap, a scarcity of forex will persist.

Buhari is by nature anti-market. The economy will continue to gasp until they get it right

Thank heavens


Shy of bet shops? You don't have to visit one, just check my signature.


.

Aderiade:
The problem is that we do more of importation than exportation. so the demand for dollar will always be on the rise, until we do more exportations. U will agree with me that this country currently depends on importations, which is not too good. Our currency will grow only when we sell our own goods abroad instead of always buying from abroad.

Thank bro.

So what's blocking the release of dollar?

ajeleseujn:
These Niger-Delta guys should please seize fire, and let Nigeria have more dollars to sell.

Meanwhile, until we start looking inward, our breakthrough from dollar slavery won't come around.

Perhaps when Buhari finds oil in Benue and Borno basins, Naira shall be equal to dollar.

grandstar:



Sanusi said that the difference between the official rate and black market must never be more than 3%. It's present close to 30%. Until government closes that gap, a scarcity of forex will persist.

Buhari is by nature anti-market. The economy will continue to gasp until they get it right

how can they close it ? The nation is broke !!!
No more is coming into the government coffers like before ,what they make they share it and it isn't even enough. And yet they need to maintain the external reserve and not touch it.
The nation revenue has almost been slashed to half ,the militants are making good their threats of crippling the economy

I don't blame d naira jare 4 d continues instability because we failed to save for the raining days,

joey150:
Everyday na rat race..naira gains today..naira looses tomorrow.

Buhari has to take responsibility, his leadership skills and organisation must be very poor.

How else can you explain how nothing ever works anymore, no parasatal, no agency, no minister..just a bunch of below average individuals heading this country.. just confusion from jamb to olympics to economy to infrastructure..

shut up. Nigeria is earning very little in forex right now. if buhari had followed advise and devalued mid last year Naira will be lucky to be around 450 now. even when Jona was there and oil sold for 100dollars our foreign reserves got depleted. learn to give credit when due

kov624665:

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Did Buhari promise that? Even if he did promised, believing it is very stupid of you. The wailers are the ones without PVC.

Yes, I was there live in Imo state when Buhari promised to make Naira equal to the dollar if voted in to become president of Nigeria. So you knew that Buhari was a liar?


Or are you sure you are not one of those ethno/religious bigots who didn't even hear or knew what Buhari promised before they voted Buhari for president?

Jaideyone:
shut up. Nigeria is earning very little in forex right now. if buhari had followed advise and devalued mid last year Naira will be lucky to be around 450 now. even when Jona was there and oil sold for 100dollars our foreign reserves got depleted. learn to give credit when due

Why are you attackiing me bros? Is it only our naira that is going up and down everyday?

How organised has this administration actually been? Right from the start they couldnt even agree on a senate leader. Took months to pick some below average ministers.

Am for Buhari or whoever wishes naija well.

Dont you think its too early to get all aggressive??

Any rate above N250 is still too high

We are waiting

PMB promised to make the Naira Dollars equation balance, that is N1=$1 but I amd here reading the inequalities of how the the equation has become N320=1$

It will be a good idea to ban the use of foreign currencies(USD, GBP, €) internally in Nigeria. This will reduce the load on those currencies.
Imagine people spraying dollars in parties. We Nigerians celebrate folly.
We'll broadcast how a man spray Dollar Notes ( $1 =380) in a party and despise another who spent #500 notes.

Naija which way now

Pprovost:
The wailer above me though

Its funny that good news about Nigeria is bad news to some Nigerians




To the topic:
I will support any move by this government to reduce importation and encourage exports to grow our currency. CBN can not intervene for ever.

You are a very BIG f+o+ol !!!

5.5% only?....not until its #1=$1

Adesiji77:


The demand is just incredible bro!

The foreign portfolio investors appeared not to be convinced yet.

How long will CBN keep intervening? Besides, the intervention is not having much impact on the pent-up demand.

Lots of LCs and BCs are on evergreen waiting lists

Cc: lalasticlala, dominique, Mynd44

Boss what hap 2 onward provision of LCs and BCs of 30, 60 and 90 days meanwhile that of 60 days would due on Tue next week and i no many banks that are using this intervention window to retain their customers.......or what do you mean by :evergreen waiting list:




Cheeeeeers