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What Is Happening To Nigerian Currency - Business (8) - Nairaland

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Re: What Is Happening To Nigerian Currency by VeeVeeMyLuv(m): 12:00pm On Jul 23, 2022
MRNIGERDoxx:
All over the world today; Nigerians are the most involved and invested individuals in the Crypto World.

This is because Nigerians are Risk Takers. We can take and bear any risks.

Prettily, This is because of the HIGH RATE OF UNEMPLOYMENT and FINANCIAL UNDEREMPOWERMENT which We have all suffered under the Oppression of BAD and EVIL GOVERNANCE in The Country.


We have gone through a lot Offline and we have suffered the brunt digitally too.

Mechanized Investment in Agriculture which should solve Our Poverty of Hunger and Starvation is never done in The Right Way.


Hence; The Price of Food keeps Skyrocketing due to Increased Hard Labour.



So, The NAIRA Must Continue to FALL.



However; the good news is that as many Nigerians and Africans that continue to Embrace and Engage in Cryptos, They will eventually and inevitably Enjoy Financial Freedom despite the WEAKNESS of Their Country's Fiat Currencies.
Paying lip service, with heavy corruption & insecerity of purpose. Boss u have no idea about the gravity of the situation! Cuts across board the entire civil service.
Re: What Is Happening To Nigerian Currency by emmi14: 12:10pm On Jul 23, 2022
Thomthom:
Effect of Leaders that don't even know the reasons they are there.. But to win election.. And effect of Fellow country men voting people based on Na Muslim, Na Christian, Na Igbo, Na Yoruba, Na Hausa man.. We need to put Nigeria first I use God beg una.. I don see person wey him brother Na Governor.. But Na husltle the guy man dey while Governor Children and him wife people Children dey UK dey enjoy our Tax payers money.. I no vote Jonathan and am from the south because Buhari manifesto was appealing with Nigeria I pray for.. But today Buhari did not do all those things that he promised. Most especially the refinery, Boko haram, and epileptic power supply . They only come to lie to win Election after they win, they bring anti people policies in other to frustrate the people.. and the people will put the frustration on each other thereby causing disunity and hatred for each other..

Bola Tinubu evidently have come with the same lies and religious jamboree.

2 Likes

Re: What Is Happening To Nigerian Currency by leokid866: 12:12pm On Jul 23, 2022
erico2k2:

Bross plz remove fuel subsidy on your list E nor follow OBJ met and left subsidy E nor bad reach so.
Obj didn't have to stare down Corona, two recession and a Russian-Ukraine war......just putting in some context......
Re: What Is Happening To Nigerian Currency by wilzindinero: 12:13pm On Jul 23, 2022
Why won't the naira fall freely when we import almost everything. Excess tax has forced alot of firms to fold up & foreign companies to relocate to other countries. Traders/exporters pay huge sum of money for their goods to be expoted...goods that when sold will cause an inflow of hard currency which can go along way to ease the stress on the naira. Comrades, we need a proven technocrat to turn around our situation. Vote wisely!

1 Like

Re: What Is Happening To Nigerian Currency by RealEzee(m): 12:14pm On Jul 23, 2022
Apc n bmc left d thread ,a whole first page no comment from them sha grin

Omo e no easy to support nonsense n make sense grin
Re: What Is Happening To Nigerian Currency by Iceberg3: 12:22pm On Jul 23, 2022
Why some people wanna vote APC/tinubu: so that they will laff the Igbos!!!!!!!!

What a people

1 Like

Re: What Is Happening To Nigerian Currency by okeysoninv: 12:24pm On Jul 23, 2022
leokid866:
Obj didn't have to stare down Corona, two recession and a Russian-Ukraine war......just putting in some context......
excuses upon excuses, you won't remember that oil price are now high above obasanjo terms.
Re: What Is Happening To Nigerian Currency by jrusky(m): 12:24pm On Jul 23, 2022
That is $1~ N1 they promised same thing one obi-diot was saying a week back that their obishit will make $1~N1 bullshit.

We don't want any Mr *I will* again***

We don't want Mr Saint anymore it's a bloody farce and useless political submission.

Gej was said to be corrupt Nigeria was biggest economy in Africa, Naira was not even half of what it is today to Dollar but when they brought "Saint" who has never given bribe, nor corrupt ever, a Saint with one babaringa, one shoe, one cap one pant, one tooth brush see where it landed us.

Affliction won't rise again any saint, micer, stingy motherfucker will never rule this country again.
Re: What Is Happening To Nigerian Currency by PARADIZEPRIEST: 12:26pm On Jul 23, 2022
WHAT ARE YOU PEOPLE DOING WITH DOLLAR MADNESS ALWAYS ? MALLAM DONE COLOBE UNA BRAINS,THEY ARE BUSY FARMING AND EXPORTING AND KEEP SELLING DOLLARS TO STUPID HEAD SOUTHERS.
CANT YOU JUST START FARMING IN YA VILLAGES AND PRODUCE THINGS TO EXPORT HERE AND STOP ALL THIS DOLLAR RANT.
WHY IMPORT MAIZE?
WHY IMPORT MATCHSTICKS AND TOOTHPATSE?
WHY IMPORT SHOES AND WEARS?
EVERYBODY THAT IS YOUNG AND VIBRANT SHOULD GO BACK TO THEIR VILLAGE TO FARM BIG TIME. THIS IS WHAT MALLAMS DO,THEY FARM IN SEASON AND OUT OF SEASON.
YOU PPL UNA BRAIN STILL DEY STANDSTILL MODE?

1 Like

Re: What Is Happening To Nigerian Currency by marenkurz: 12:29pm On Jul 23, 2022
No one can turn Nigeria economy in 16 years.
Removing zeros from a currency doesn't improve the value of the currency. Nigeria needs infrastructure, some of which would take years to build. Besides, Nigeria is broke. A country that would soon default on her debt. No one can fix this country in 16 years. The IMF and world bank has gotten Nigeria on his balls, they will force us to sell raw materials on the cheapest. Nigeria would be in debt for the next 50 years.

Some of you think it's going to get better, if you manage to vote in a patriotic leader, unfortunately, it won't.
9jaRealist:


Absolutely NOT true! While there are admittedly some long-term fixes required (education, for starters)…
But the Nigerian economy can be turned around in a relatively short period (even with other fundamental issues outstanding).

In fact, things like the exchange rate are the EASIEST to “fix”. Ghana did it by simply loping three 000s of the cedi…
The more fundamental issue is economic PRODUCTIVITY, but simply doubling ELECTRICITY output will have a GEOMETRIC impact on output.
>
PS: I am not necessarily saying that Peter Obi could do so.
>

2 Likes

Re: What Is Happening To Nigerian Currency by leokid866: 12:30pm On Jul 23, 2022
okeysoninv:
excuses upon excuses, you won't remember that oil price are now high above obasanjo terms.
lol when the fuel price start going up? Before the end of 2021 what was the price from 2015? Plus you forget we don't refine ......we are gaining on the upstream sector selling Oil above 100 dollars per barrel but losing it all and more in the downstream when we import fuel and other Oil products.....keep in mind the higher the price of the crude per barrel on the international market the higher we will have to pay in subsidy payment, transport, storage and other services......and before you blame Buhari for not restoring our refineries to working order remember PDP sat at the Helm for good 16 years and did nothing.
Re: What Is Happening To Nigerian Currency by Sleekfingers: 12:37pm On Jul 23, 2022
GudHardDick:
This is exactly Why we need Peter Obi so that he can recused this country from these criminals.

Go and get your PVCs and let's vote massively for peter Obi to come 2023!!!!!

And Peter obi is a saint abi?
Re: What Is Happening To Nigerian Currency by HIPROFILE(m): 12:40pm On Jul 23, 2022
Wait..oo can someone mention which of the promises made by APC in 2015 that has been fulfilled.

I was trying to woe someone to support APC and then she asked me this question. I only found myself answering the Question like a Femi Adesina and a Lai Muhamed. which I know within my self and my conscience I was not saying the truth.
Re: What Is Happening To Nigerian Currency by oladi22: 12:45pm On Jul 23, 2022
Godwin emefiele is a real cause
Re: What Is Happening To Nigerian Currency by urose93(f): 12:45pm On Jul 23, 2022
tradingknowled1:
Naira is just ticking like a time bomb which will explode very soon !!.. I pray you don't get burnt !!

well the only way to avoid the fire is if You earn In dollars or save up your Money in dollars ..this will save you alot.

I offer forex trading Guidance and mentorship... PM me if interested.

How can I save in dollars


and as for those that wish to earn from the forex market (in dollars) but doesn't want to learn due to how complex it can be or they tend to be too busy,
Can also PM me too ..

Re: What Is Happening To Nigerian Currency by mrkings84(m): 12:48pm On Jul 23, 2022
GudHardDick:


True. Especially the hard core northerners. This is exactly why labour party has decided to take it campaign and publicity to those northern villages for more enlightenment. Before Feb 2023, we'll leave no stone unturned


I just pray so.
Obi winning the presidency is the best thing that can ever happen to Nigeria at this point.
Even those APC urchins and my fellow PDP supporters will hugely benefit from Obi presidency.

I am PDP, but u see, for now I have to keep party sentiments apart and do the right thing for once.

Fully OBIdient and Yusful!!

1 Like

Re: What Is Happening To Nigerian Currency by urose93(f): 12:49pm On Jul 23, 2022
[quote author=Persephone1 post=115001302]Until you realize how to take this to you advantage, you will be mad at this. grin

Not to be selfish, I pray it falls more grin cheesy cheesy At least for a little while.
[/quot

How can I save in dollars please?
Re: What Is Happening To Nigerian Currency by Sleekfingers: 12:50pm On Jul 23, 2022
Antimarraige:
Make they kuku sell the useless country.
I see a revolution happening soon, killings of rich politicians and their families will start soon

Revolution is bound to happen soon. Most of those politician's families are already hiding abroad. I know for sure if it happens not all of will escape. They will all beg for their lives, but no one will listen.
Endsars was a perfect example, most of them, were afraid, even the police left their stations.....make them continue. Abi, dem don forget say, a hungry man, is an angry man?

1 Like

Re: What Is Happening To Nigerian Currency by okeysoninv: 12:50pm On Jul 23, 2022
leokid866:
lol when the fuel price start going up? Before the end of 2021 what was the price from 2015? Plus you forget we don't refine ......we are gaining on the upstream sector selling Oil above 100 dollars per barrel but losing it all and more in the downstream when we import fuel and other Oil products.....keep in mind the higher the price of the crude per barrel on the international market the higher we will have to pay in subsidy payment, transport, storage and other services......and before you blame Buhari for not restoring our refineries to working order remember PDP sat at the Helm for good 16 years and did nothing.
jargons, corrupt apc government hacked up fuel subsidy to more than 500% since PDP left power. ode, we are talking about foreign earning which is should be translating to our exchange rate but reverse is the case with the apc government. instead of dollar coming down its going up. you're disagree for supporting APC.
Re: What Is Happening To Nigerian Currency by usagee36: 12:53pm On Jul 23, 2022
God bless America grin grin grin

3 Likes

Re: What Is Happening To Nigerian Currency by Caleycashh: 12:53pm On Jul 23, 2022
9jaRealist:


Feel free to migrate to Benin Republic… grin
As if it is not the SMUGGLING activities (goods in, fuel,out) of NIGERIANS that sustains the Beninoise economy.

Ultimately, Nigeria’s condition is the result of the various actions of ALL Nigerians (by commission or omission)!

>
Keep shut shameless idiot!!!, comparing Benin Republic to your Shit hole is even an embarrassment, you get mouth to vomit shit, you should be crying that Nigeria is a dying nation, stupid idiot!!!, na you and your family contribute to the failure of the nation not me, shey na me and you be all these wicked souls looting this country dry!?, better avoid me next time or you'll die miserably... I don't blame you, you never travel out before, Urchin!

3 Likes

Re: What Is Happening To Nigerian Currency by Heterodox(m): 12:55pm On Jul 23, 2022
9jaRealist:


grin grin grin

Not surprised that the CLUELESS General and his foot soldiers think of economics as “rantings”….
Everything General Buhari did in the wake of the 2016 global downturn turned a recession into a Nigerian Depression! SMH
>
Mr, not everyone airing an opposing view to yours is a foot soldier.


You can always attempt to use your brain. Even though we all are aware you'll fail woefully.
Re: What Is Happening To Nigerian Currency by murmee: 12:56pm On Jul 23, 2022
nairalander2020:
Very soon one dollar will be equals to one thousand naira, Nigeria is in free fall.
That was exactly what I told my sister yesterday. I said the Naira to Dollar exchange rate is slowly but surely going to N1,000 to one Dollar. It is soooo SAD!
Re: What Is Happening To Nigerian Currency by Ray07(m): 12:57pm On Jul 23, 2022
Angelfrost:
I expect a Dollar to equal #1000 before December or latest December!

This is not cynicism... This is the reality of a depreciating and declining nation and her currency!

A nation that has failed to look inwards, harness her rich resources, cut down wastage, tackle corruption, decrease imports, enhance exports, remove subsidy, etc, can only retrogress!
If the had only let Jona to remove subsidy, this would have a bit different.

The ruler called president( that one no be leader), said subsidy is a scam.
I would never forget the noise they made, Tinubu included all round Lagos that subsidy must not be remove. Today, they're clamoring for it to be removed.

As one lay it bed, naso e go sleep on am. Make we all enjoy the wahala.

1 Like

Re: What Is Happening To Nigerian Currency by Angelfrost(m): 1:01pm On Jul 23, 2022
Ray07:
If the had only let Jona to remove subsidy, this would have a bit different.

The ruler called president( that one no be leader), said subsidy is a scam.
I would never forget the noise they made, Tinubu included all round Lagos that subsidy must not be remove. Today, they're clamoring for it to be removed.

As one lay it bed, naso e go sleep on am. Make we all enjoy the wahala.

Don't mind them...

That one now wants to be president and do what exactly?!! Wave a magic stick or do what no mortal can ever do!

Useless politicians!

3 Likes

Re: What Is Happening To Nigerian Currency by Yankee101: 1:06pm On Jul 23, 2022
guobe:
yes I have a lot of people abroad happy with the situation but 90 percent of Nigerians abroad are stingy.shishi they won't send to you.Dont depend on them

And yet remittance from naija folks abroad is one of the largest in the world?

Na lack of gratitude like this dey discourage person


The person you have abroad assists immediate family, extended family, childhood friends, neighbours, random strangers begging him/her from naija, church, etc But everyone forgets he has his own family abroad, himself and the high cost of living in developed countries

If he manages to send to you as a friend, even once a year, be grateful

Oyinbos have more savings on the same salary because he dosen't give a single person his money, not even his parents

6 Likes 2 Shares

Re: What Is Happening To Nigerian Currency by Nasri100(m): 1:15pm On Jul 23, 2022
Yankee101:


And yet remittance from naija folks abroad is one of the largest in the world?

Na lack of gratitude like this dey discourage person


The person you have abroad assists immediate family, extended family, childhood friends, neighbours, random strangers begging him/her from naija, church, etc But everyone forgets he has his own family abroad, himself and the high cost of living in developed countries

If he manages to send to you as a friend, even once a year, be grateful

Oyinbos have more savings on the same salary because he dosent give a single person his money, not even his parents

Parents must work even if you are in your 60s

It’s Nigeria here that parents will be waiting for their children.

Abroad is a different world.

4 Likes

Re: What Is Happening To Nigerian Currency by Acidosis(m): 1:35pm On Jul 23, 2022
Prosper123:
Yes. I do receive dollar.. But I transfer to the person at 500 naira. But I think I need to increase it. But I don't think the bank may give me raw dollar because of its shortage

You're losing money, bro. You can visit your bank and withdraw cash at the fx counter. The shortage shouldn't affect withdrawals between $1-$500 on a single transaction.

Now is the best time to withdraw as the shortage in September will be severe.
Re: What Is Happening To Nigerian Currency by zudozz: 1:40pm On Jul 23, 2022
Buhari, whose pro max Tinubu is contesting for presidency is happening to Nigerian currency.
Re: What Is Happening To Nigerian Currency by Chicastle: 1:44pm On Jul 23, 2022
rolams:
1$ equal #1,000 soon!

That time $1000 would be 1mili ?
Re: What Is Happening To Nigerian Currency by Keemie(f): 1:44pm On Jul 23, 2022
Prosper123:
Yes. I do receive dollar.. But I transfer to the person at 500 naira. But I think I need to increase it. But I don't think the bank may give me raw dollar because of its shortage

That's too low use grey https://greyapp.page/yvRDqvsAjNaFmKiE7 their rate is ₦620 to a dollar last time I converted.
Re: What Is Happening To Nigerian Currency by Mkairbag: 1:44pm On Jul 23, 2022
GudHardDick:


True. Especially the hard core northerners. This is exactly why labour party has decided to take it campaign and publicity to those northern villages for more enlightenment. Before Feb 2023, we'll leave no stone unturned

Obi is a big time fraud

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