WeddingParol:
Those praying for Nigeria to fail will not like this news.

All their states are filled with corruptions and non performing politicians but they careless about that.

They filled all the social media platforms with hate and negative narratives about Nigeria 🇳🇬 publicly praying for the country leadership to fail.

Don't worry, you will all reap what you sow.

lexy2014:


but you said that the value that you are seeing is not real. which value were you seeing that is not real?

how is CBNs value now the real value?

Calitoscassius:
Only time will tell, be surprised that they d lose nothing in the end, the real value of the naira is yet to be determined.

Besides, it is their dollars they can hoard them if they like

socialmediaman:

Most of us are irredeemable

vowiski:
Lol,

Oshiomole style of leadership as NLC chairman.

They both know fuel will increase by N5. Government Increase fuel by N10. Everyone shouts and Oshiomole jumps round the Country.

Fuel reduces by N5. The original plan of the government, Masses say Fuel has reduced and Oshiomole try oooo.

Tinubu increases exchange rate to N1880. They know the economy is N1300-1400.

They bring it down to N1300-1400. Masses scream, Naira is appreciating.

I am forced to ask; Naira is appreciating from where ? Where did the present government meet it?


You can see the smoke and screen?

tete7000:


If what the govt is doing is pumping in dollars, it will surely backfire in time. Do we have endless forex to pump? When you talk about hoarders, you don't blame those who hoard, blame the govt who created an enabling environment for hoarding. If you want to understand why people decided to change money to dollars and keep, just imagine yourself having some millions savings in naira and you wake up to see it lose values within twinkling of an eye, even you will try to keep it in currency that is safe. So in as much as govt created an environment of disillusionment and distrust, the same govt needs to restore people's trust in their currency. As for those who take the opportunity to make money, they have done nothing wrong or illegal, they only capitalised on govt indiscretion to make money. All the responsibility comes down to govt.

SunMusk:
I think is true check cryto exchanges p2p is at 1222

Dennisochampa:


Oga abeg no put me for talk.... U showed me exchange rate from Google search and I said it's not the real value..... Believe what you want... I'm done with this unnecessary argument...

Dennisochampa:
.... No!!!
What it does is simply over stating...
It's just like your wife coming to tell u that yam is 200 naira while it's 180 just to be safe incase the price increase

theophorus:
If you are holding for the sake of thinking it would rise again, then I urge you to Rethink cos this down wen he dey go so ehn na long thing ooo.

MrSundry:
I expect 4 sets of people to land on this thread:

1. The "dollar should go back to the #600 it was before the floating" crew;

2. The "enemies of Nigeria won't be happy with this news" crew;

3. The "when will the prices of goods reduce" crew.

4. The "non- partisan and unbiased news reader" crew.

Klington:


Listen to yourself.

When it increased, it reflected on every single items including sachet water.

Now it has been going down for some time now according to agbado propagandists and it's not reflecting on any item.

Abdul05:

I Know some people won't be happy about this good news ..

See..when we talk about economics one can see that president tinubu knows the subject very well .

Johnjustice:

What the government is doing is cushioning the effects of hoarding, and making sure there is adequate supply of dollars in the market. Nigerian government will not stop selling crude in the near future, so dollar earnings are sure, Dangote will sell in dollars, more dollars for Nigeria, cocoa prices have gone up, more dollars for Nigeria, and in the medium term, government can start thinking of refining enough to export, this will earn more dollars. Importantly, government should boost home production, so we produce more of what we eat and use, demand less dollars...once we can reduce our demand for dollars, our problem with naira devaluation and hoarding will cease. In the meantime the pumping of dollars is a good reaction, to the sharp practices of dollar hoarders. It's all about demand and supply. FG through CBN should ensure adequate dollars is pumped into the system, to counter the activities of hoarders and prevent acute rise in food prices, protest and civil unrest.

Any government that allows hoarders hijack it's country and economy is a fool. CBN is there to regulate, protect the Nigerian currency and economy through monetary policies and actions.

Nigeria won't be a chronic importer indefinitely, government will work on production, and export, but in the meeting, government must counter the activities of dollar hoarders by pumping in dollars, dollars we earn. There is nothing wrong in government using a nation's money to protect them, that is the work of government.

The president made a genius move when he told NNPCL to deposit inflows directly into the CBN, inflows of crude sales and accruals in USD...so CBN has a direct, steady flow of USD, it can pump this into the market to regulate and ensure enough supply. Things have changed.

Every country in the world subsidize for its citizens, so if government pump dollars into the system so Nigeria can afford goods and services, they are doing their job, of protecting and taking care of Nigeria and the economy.

Blame the hoarders, government is only reacting to the activities of dollar hoarders.

You people are funny, you think government should fold it's hands and watch people take to the streets due to acute hardship and burn down the country?

tunjiajayi:


That the appreciation of the naira is NOT government propaganda!

nairalanda1:

if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

nairalanda1:

Subsidies on diesel are now impossible because we really don't have the money.

lexy2014:

...

OvertheTop:


lol, How Long...

Obere4u:


Because an average Nigerian businessperson is greedy. They only want profit

routed:

Yeah, time is telling already as a downward spiral is here again on Tuesday.

I tell you, a bumper loss in their camp and trade already.
Their dollar, the reason I asked him not to preach to them.

dre11:



https://www.thecable.ng/naira-appreciates-to-n1280-at-parallel-market/amp?/naira-appreciates-to-n1280-at-parallel-market

lexy2014:


it actually is because the government is regulating the price of the dollar and giving the impression that market forces are responsible for the changes you are seeing. this is because it had made serious blunder initially to leave the price to the so called market forces

FOOTSOLDIER2:


What platform is this bro ?

tunjiajayi:


You obviously don't deal with dollars

Aurelius1:
Which do you belong?

Aurelius1:
Which do you belong?

tete7000:
[i][/i]

I have not said govt should fold his hand, I only said govt should be cautious enough not to create environment that encourages people to hoard and then start running after how to discourage people from hoarding. It was govt hasty approach to some policies that put it under pressure in the first place.

SunMusk:
OKX