MasterJayJay:
Another project that will fail.

The mumu APC are blaming spectators but under GEJ, they said 216 naira to a dollar is not okay.

You can't digitize the entire forex market. It is impossible.

Exactly at the bolded

Let me just keep my mouth shut

Acekidc4:
People should give Tinubu time, he will surely perform and do wonders. You all will thank him later. Things are really bad, we all know but it won't be for long.

na today?

Babanah:
Can someone advise the powers that be to create a Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution. This will segment the market. Those who need the dollar for speculative reasons or as a store of value can buy this Instrument. While the real dollars will be left for these who have genuine need for forex. The ETF will fluctuate/mirror the naira/dollar rates but will be held within Nigeria.
For further details can you ask the CBN Governor to contact me.

I have stated that numerally but the CBN Governor has no knowledge of this. I see no reason we should not have a trading platform so we can bid and sell currencies digitally and get taxed instead of hoarding the physical tenders. Launching a local trading platform will transform the economy and prosper Nigerians.

They keep threatening those profiteering on the arbitrage as if they are even smart enough to know how to stop it. Until the Government have square pegs in square holes they can not do a fucck, cos no one can stop anyone from benefitting from the rot they create.

Basicend:


It is because you don't understand the terminologies used in that piece, that is why you are writing jargons and giving yourself a flaked hope.

We have so much dummy brains in this country. Are you also amongst those that go to his Ikoyi (Boudiloun House) to eat Amala? Coz I don't know what darkens you people's counsel and reasoning so terribly.

I mean, you still believe the very kingpin of a corrupt lot can bring the change to this Nigeria?

You lot, with your foolish thinking and belief brought Nigeria to this mess. .

U started as if u have something reasonable worth saying to have countered him like that. U self worst

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

in all this plenty talk, you said nothing cogent, just like Yemi Cardoso and Tinubu's promise to fix fx issues with no mention of any actual steps that will be taken to do so...his lack of foresight pushed the parallel market price to over N1,100. It is not about making pretty speeches or threats, if FG are serious, then they need to show workings and they can start by not wasting scarce fx on cars for aides and legislators that can be gotten from local guys (why do they even need new cars for pete's sake?), stop expending fx on pilgrimage and other pointless ventures that do not benefit the economy.

Naira value has become so plummeted that it's hard for me to listen to whatever move government is making now. I want to see naira value bounced back then I can start reading how it was done

Why should I believe or even trust a man who openly and emphatically claimed that the incompetent and ineptitude Buhari did very well during his tenure and he will replicate in his administration?

[quote author=Acekidc4 post=126577266]People should give Tinubu time, he will surely perform and do wonders. You all will thank him later. Things are really bad, we all know but it won't be for long. [/quote
Useless APC caused all this remember??

Look at you proposing an actionable and real solution.

OYO

Babanah:
Can someone advise the powers that be to create a Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution. This will segment the market. Those who need the dollar for speculative reasons or as a store of value can buy this Instrument. While the real dollars will be left for these who have genuine need for forex. The ETF will fluctuate/mirror the naira/dollar rates but will be held within Nigeria.
For further details can you ask the CBN Governor to contact me.

Acekidc4:
People should give Tinubu time, he will surely perform and do wonders. You all will thank him later. Things are really bad, we all know but it won't be for long.

no be him talk say he will do magic in less than 3 months now I don see who dey clueless pass Buhari

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

Says sukanmi 🤣🤣🤣🤣

Comrades we need to forge the certificate of naira for it to gain its potentials against the dollar,
Agbadorians what say you?

Same you that is monitoring another Nairalander is asking if the perosn no get job ...😂😂😂. Nothing perosn no go see from foolish obidient on Nairaland.

Slizzords:
You must be a very jobless fellow because I mean you're always present like a recurring decimal. Oga you no get work ni?

Just come here dey talk rubbish all the time.

Phoen1X:
As empty as their last eight years promises,...we have learmt not to mind them.

Who in this govt was part of the last govt?

NO MATTER THE BIG GRAMMAR WRITTEN, ONE THING IS CERTAIN, NO PRICE HAS GONE UP AND EVER COME DOWN IN NIGERIA.
WITH THIS KNOWLEDGE, EVEN IF I AM A HOARDER WHICH I AM NOT, I WILL SLEEP PEACEFULLY.

Crap, this move will just make naira to hit 5000 to a dollar by February... The only way out is to truly deregulate the FX market ban the I&E window, av said it before, without that we going no where, the naira will keep on diving if the official rate is not abolished and let the naira truly float... If they dint do this all.. I repeat all of us will lose in this economy both rich and poor right from Dangote to me poor man on the street.. May God make me rich one day too. Abolish the official rate and do all government business in the parallel market rate.. Naira will not only stabilize instantly.. It will appreciate by nothing less than 35%under two months, this our ministers and CBN governor are just speaking grammar.

BAT and his team lack knowledge required to turn around the economy. When Obj was elected his first move was to recruit experienced technocrats such as Ngọzi, Aganga, Adeshina, etc who helped him to turnaround the economy for good.

Gen Abacha govt which was adjudged to be best in terms of stable economy was made possible by good initiatives and policy of his finance minister, CBN governor,etc

This govt made a single mistake that would continue to haunt this govt untill their last day in office - subsidy removal, they removed subsidy without planning on how to alleviate the economic hardship its removal will cause to the people and economy. After 6 months of subsidy removal, no palliative has been given, no local production of fuel, even local refineries are not working. The worst is that modular refineries that people operate are being bombed and destroyed by govt agents and declaring them illegal,

The only way out is to reintroduce another subsidy-like policy in nigeria

360degree:
This is a good idea.

explain 4 it means

Bobloco:


Motion without movements

Yet when the movement starts, you'll find something silly to yarn.

Offpointng:
This is a wrong move by the FG. we Igbos want the Naira to continue on a free fall so we can ask our Yoruba people how far?? hope the increasing dollar will continue to favour them and their family?

Dem never see anything yet

Everybody's always known that you Igbos are saboteurs. Same way you sabotaged the country from the days of Ironsi. Unfortunately, your wishes have been truncated by the executive orders by the president. You go soon know how far.

In the near future. They are still waiting to do something till the near future. What government will not start is what they will make noise that they will do in the future. And then we will keep waiting till we forget.
This administration is not serious at all. No wonder their Party slogan is renewed Hope.

bentenny:
Why should I believe or even trust a man who openly and emphatically claimed that the incompetent and ineptitude Buhari did very well during his tenure and he will replicate in his administration?

OK, you want him to say he will discontinue so that he doesn't get the votes he needed? So that Hoebee can win? He said what he had to say as a politician. Is he not working better than Buhari?

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

A sworn tribalist supporting every nonsense a clueless government spews out to them.

What tangible thing was said that article above that's giving you all this hope??

Absolutely nothing!

Floating the naira and stopping all the incentives put on ground by the previous regime to attract more forex was a stupid policy which will continue to hurt the naira till it completely crashes the economy.

Acekidc4:
People should give Tinubu time, he will surely perform and do wonders. You all will thank him later. Things are really bad, we all know but it won't be for long.

It won't be well with anyone of you that keeps giving Nigerians false hopes.

You guys did the same thing with Buhari and are doing it again with this old, clueless drugbag.

eruchboy:


Question is how far will the naira fall?

Naira is falling into a bottomless pit! There is no limit to how far it will fall. This is an objective fact. I am not being negative or unpatriotic here.

You see, the forces against the Naira are enormous and ever present.

The only thing that can save the naira is a revolutionary change in our thinking and our values. An average Nigerian engages in activities that inevitably weakens the naira:

Those who want to japa have to sell off the naira they accumulated in their life time.

Our rich men who prefer overseas' hospitals have to sell the naira.

Parents who prefer to send their children to school abroad have to sell the naira.

Most of what we consume are produced outside the country and in order to bring them into the country naira has to be sacrificed.

As long as the need to sell the naira is limitless there is no hope for the naira any time soon.

Obakoolex:
So many ignorant people with no simple idea of what is been talked about will still come here to say rubbish

It is so unfortunate that anyone will think that he can use power/force either through policy or brute to fix the fx issues in Nigeria without first boosting genuine sustainable production to cut down on domestic demand for dollars for imports of basic needs and ramping up of export of both raw and finished products to take in fx into the country.

All these experiments are but trying to cover septic wound with cotton wool and bandage in the hope that it will heal.

Una go still fail no offence. Party of failures managed by certificatless tout master

Theunbothered:


Blindly repeating what you saw online just shows people you didn't go to school.

Wetin be "filters"?

Spandau:


OK, you want him to say he will discontinue so that he doesn't get the votes he needed? So that Hoebee can win? He said what he had to say as a politician. Is he not working better than Buhari?

Firstly,his current 5 months are far worse than Buhari's 100 days in office!
Secondly,ensure that your cerebrum is properly connected before replying me!
Lastly,learn to mind your business or indulge in wakadotcom if you have nothing logical to contribute!
I could have asked you to name two things Tinubu has done to impact positively on the economy but that will be a long stretch for your weary cerebrum to decipher....

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

na so...abeg make we hear word.........the fulani/agbado conspiracy have been cashing out since they came out victorious after the civil war..........fulani control over NNPC,NPA and customs ....agbado in charge at CBN and organised private sector....its been one hella of a party! the hangover is just starting! its gonna get a lot worse before it gets better!

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

Such a laughable statement,. As if it was only in this government that they started having parallel exchange rates for dollars and other foreign currencies, the facts still remain this: they should go and learn how to manage the economy otherwise all these your shalaye nor go work just Dey play oo, you are making excuses for government who don’t know their right to their left continue 😂😂😂