People who are versed on this matter kindly help us with answers,

If the Cbn lifts the ban on MasterCard Visa cards not being used for international transactions, would it not help the naira stable in that people will not need to source for FX. If yes why don't they want to lift the ban?

Paraman:
If you like, don't listen to professionals, keep on believing what losers, hate filled and bitter people are saying on nairaland and twitter.

And who are these losers, hate filled and bitter people?

crossfm:
Hehehe.

Warning ko, warning ni .

This baba is looking for who to deceive.I trust Nigerians,they will do the needful .

Honestly..


Am poverty and hunger have kill us finished ko

Baba u just talking like other people.



In Nigeria nothing adjust to decline rather it more increment and hikes.





U said time.. now now 4 years go just waka go.

U banks are bastardssss.

Pretenders.



By the way, Super eagles shud not play they next game in until all kidnapped victims are rescued

If anything, this should be an indication to buy more dollars. Naira is not recovering any time soon, at least till Tinubu comot that seat

crossfm:
Hehehe.

Warning ko, warning ni .

This baba is looking for who to deceive.I trust Nigerians,they will do the needful .

My brother no mind them

I will hoard the few hundred dollars I have left. Come to my house and beat me. Na me wan change to una worthless Naira? This sounds like something that Tax collector CBN Governor Yemi Cardoso ordered the banks to say.

Warning people not to profiteer from a clueless government is akin to warning young boys not to drink alcohol

Gamblers everywhere!

Na your dollar? Which stvpid advice come be this again? Na the few dollars I hold go stabilize the economy?

What smart people do is trade. It’s never a smart move to hoard dollars if you run a business or your money is legitimate. Those that hoard dollars are mostly politicians and their associates that use stolen funds or gifted cash.

proeast:
Look at the foolish ones talking rubbish. So, Nigerians should keep their money in naira and watch their hard earned money become worthless? This man here probably has vast stash saved in dollars just like corrupt politicians but they want Nigerians to suffer alone.

After announcing last week that they'd use over 30bn dollars stashed in various banks to safe the free fall of naira, the money which the CBN later debunked,, a lot of people, including politicians have besieged banks and withdrawn all their dollars.

From time immemorial, any news from the federal government coffers which were carried by major newspapers were later debunked later became real. I can't be mentioning scenarios. The most recent one was the electricity tariff which they first debunked. Now, its become a reality. Maybe the cbn had envisaged that people would react swiftly and pack all their dollars before they implement the policy, they now debunked it. Nigerians are wiser than they think. How can you convert usd to naira at a rate you would now dictate to the owners of those dollars?

The politicians aren't left out today among those who thronged banks and took their dollars away. That's the reason dollar rate fell since last Saturday. I bought dollar at 1407 today, imagine. Early last week it was sold above 1,500. Dollar don yapa now and its estimated to fall further.

All these international banks will be hardest hit and that's why the standard chartered man was shouting 😃. A lot of people must have emptied their dollar vaults today.

Paraman:


https://punchng.com/standard-chartered-bank-warns-against-hoarding-of-dollars/?amp

My suggestion is for Cardoso to resign if he doesn't know what to do. The empty-headed Lagos City boys potentially harming the country, in the CBN governor's house, there should be at least $100,000, let him bring it out then my own $2 would be brought out. 😂😂😂

Emmexguy123:
I thought Nigeria is a sovereign nation?
Why are we suffering because of another country currency 💲?
How did we get to this of no return?

Because,we are all Not Productive enough, except, with Few, to earn good Money from Exports,for all we care is Oil,Oil and Oil.
Worse is that even the Oil Money is being Stolen through ( Corruption)!
Nobody cares for the Youths and the Masses!

Paraman:
If you like, don't listen to professionals, keep on believing what losers, hate filled and bitter people are saying on nairaland and twitter.

Don't mind them...those biles of hate only source of happiness is when they hear bad news about their country.

crossfm:
Hehehe.

Warning ko, warning ni .

This baba is looking for who to deceive.I trust Nigerians,they will do the needful .

Lol. You will learn.

In trading, there's a time you take profit and move on. That's similar to what the bank is saying.

Naira has crashed enough. With the new policies in place, the rebound is near our door step.

Like they said, don't buy the dollar to speculate - only dumb money will buy the dollar now; the meat of the move is done. Don't play!

PUSSYHOE:
Why does it feels like the country is at war, everybody just dey vex. Behaviors are unpredictable.


Yesterday bunch of guys were drinking celebrating arsenal triumph over Liverpool ( my love Liverpool lost).

I can't join them so I just watched them enjoy but to my surprise the thing after couple of drinks doesn't look like enjoyment anymore because they were just rushing the drinks to get high and go to bed. I was cautioning them that are they mourning or celebrating


people are going through a lot forget packaging.

With the current inflation rate and bills people have to meet up with, bro happiness is now a luxury
as your friends were drinking those beers, something is remind them bills they owe or have to pay

if you smile tew much, friends & neigbours will start billing you, they assume you have money that why you are smiling .. thats explains "everybody dey vex look "

greenermodels:
Rubbish talk if you ask me, the naira is losing value because the government is not willing to move the country from consumption to production and as long as that is the case,the naira would continue to depreciate.

Ignoramus! Taking a leaf out of the dullard book, words for words.

The Iru Pete Obi you quoted doesn't even understand what consumption to production mean. The man who failed to actualize that economic value in his state for 8 years.

For your information, what the government is doing presently is moving the economy from consumption to production. It's why there's so much pain.

Paraman:


https://punchng.com/standard-chartered-bank-warns-against-hoarding-of-dollars/?amp

Warning

When the politicians were busy spending dollars on their party chieftains during primary. Where were you Oga.

“The central bank is trying to mop up as much liquidity as possible to reduce the volume of cash chasing FX. The moment we will begin to get to normalcy and FX liquidity is available, and then we will begin to see the effects of some of these policies right now. So, everything is a derivative of FX management.

“In getting to the point where liquidity should improve, foreign portfolio investors are likely to get interested in Nigeria and there is a chance that we can raise money through the Eurobond.”

Liquidity can't be mopped up by restricting currency circulation. Only by taking cash out of peoples hand can that happen.

greenermodels:
Rubbish talk if you ask me, the naira is losing value because the government is not willing to move the country from consumption to production and as long as that is the case,the naira would continue to depreciate.

What is Cameroon producing that there money has become more valuable than naira?

Bluntemperor:


Because,we are all Not Productive enough, except, with Few, to earn good Money from Exports,for all we care is Oil,Oil and Oil.
Worse is that even the Oil Money is being Stolen through ( Corruption)!
Nobody cares for the Youths and the Masses!

This is not even the case. The major problem of Nigeria is massive corruption and bad economic politics. There are many great countries who don't have oil, neither is their economy export-driven but their GDP remains strong. Crude oil is supposed to be a blessing to us likewise our population.

You borrow money to do roads for instance, the road was awarded at triple its normal cost. You still did not do the road well. 3 years later, you borrowed to patch the same road done.

An accountant general stole over 100bn , when ASUU was asking for same amount to upgrade our university system but the federal government said, no money. See the massive corruption at the aviation sector. Hadi sirika slapped over 200m Nigerians by fraudulently bringing into Nigeria an Ethiopian airplane painted in Nigeria colour and called it Nigeria Air. The corruption cuts across all sectors. Instead of patronising Peugeot like the military did, you went and ordered expensive Toyota suv and shared among lawmakers who are highest paid in the world. All these wouid have a great negative effect on our economy.

During the military era, when obasanjo took office and followed by Jonathan administration, what were we exporting than crude? Was our economy not strong? Obj came and built up our foreign reserves out of virtually nothing. What were we expecting than crude? An export-driven economy is fine, but it would have just been a boost to our already strong economy if well-managed. Our problem has never been being an import dependent nation.

A major political figure moved 2 bullion vans into his building at the eye of the public, where did he see it? He had jets when he's not dangote, how many manufacturing companies does he have? Instead of asking questions, they were defending him. We're such a funny nation..all these nonsense won't happen in a responsible country. Such a fellow will rot in jail. See a government that's less than a year old, already stealing public money, outting it in an individual account?

Paraman:


https://punchng.com/standard-chartered-bank-warns-against-hoarding-of-dollars/?amp

Are we now using dollars in this country more than naira ?
I really don’t understand

greenermodels:
Rubbish talk if you ask me, the naira is losing value because the government is not willing to move the country from consumption to production and as long as that is the case,the naira would continue to depreciate.

Move which country to where nah? Be speaking English, consumption to production....no be yes daddy tone be that.....what exactly is there to produce?

a4cube:
They should warn Tinubu and Seyi first. The Bullion Van is being loaded right now.

Meanwhile have you had of what is going on in.Nnewi in Niger State?

Is Nnewi in Niger?

Not just nigerian leaders,their counterparts in the private sector should debrief themselves of anything they learnt in the classroom because they always sound stupid when they talk.

Why not address what gave rise to excess naira chasing dollar rather than running around like you are in a circus

merits:



They will still hurd it as usual all this noise can't stop them.

GET BINANCE WALLET ACCOUNT AND FREE YOURSELF FROM ALL THIS TRASH 🗑️.IF I LIKE I KEEP BILLIONS OF DOLLARS IN MY BINAÑCE WALLET ACCOUNT NOBODY CAN KNOW CUZ IS UNTRACEABLE.

Is Binance that discreet and secured?

Paraman:
If you like, don't listen to professionals, keep on believing what losers, hate filled and bitter people are saying on nairaland and twitter.

Trash,let them do it first then others will follow.

FG should liquidate their foreign reserves, turn it to naira then we'll take them serious.

Eriokanmi:
After announcing last week that they'd use over 30bn dollars stashed in various banks to safe the free fall of naira, the money which the CBN later debunked,, a lot of people, including politicians have besieged banks and withdrawn all their dollars.

From time immemorial, any news from the federal government coffers which were carried by major newspapers were later debunked later became real. I can't be mentioning scenarios. The most recent one was the electricity tariff which they first debunked. Now, its become a reality. Maybe the cbn had envisaged that people would react swiftly and pack all their dollars before they implement the policy, they now debunked it. Nigerians are wiser than they think. How can you convert usd to naira at a rate you would now dictate to the owners of those dollars?

The politicians aren't left out today among those who thronged banks and took their dollars away. That's the reason dollar rate fell since last Saturday. I bought dollar at 1407 today, imagine. Early last week it was sold above 1,500. Dollar don yapa now and its estimated to fall further.

All these international banks will be hardest hit and that's why the standard chartered man was shouting 😃. A lot of people must have emptied their dollar vaults today.

Sorry to say but your analysis is flawed fundamentally and I wouldn’t give you my reasons why.

Your point is that of a layman who doesn’t adequately grasp the dealings of the financial market.

Artscollection:
Not just nigerian leaders,their counterparts in the private sector should debrief themselves of anything they learnt in the classroom because they always sound stupid when they talk.

Why not address what gave rise to excess naira chasing dollar rather than running around like you are in a circus

Don't mind them. Deceiving the innocent masses. ALL NIGERIAN BANKS ARE DEEPLY INVOLVED IN PUTTING THE COUNTRY INTO THIS MESS RIGHT FROM THE INCEPTION OF THE NAIRA CRUMBLING FROM ₦86 to $1... WHICH BANK'S MD IS INNOCENT.

HOW DO BILLIONS OF NAIRA CHANGED TO DOLLARS LEAVE THIS COUNTRY INTO FOREIGN ACCOUNTS ABROAD. BANKS ARE STILL THE PIPELINES/CHANNELS.

LET'S CONTINUE TO DECIEVE OURSELVES.