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Nairaland Forum / Nairaland / General / Business / FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours (28948 Views)
Naira Depreciates By ₦81/$ At Foreign Exchange Market / FOREX Crisis: Naira Plunges To 1,025/$, Job Losses, Factory Shutdown Loom / Economic Crisis: Naira To Fall Further In January, Says CBN Report (2) (3) (4)
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Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by bigiyaro(m): 10:43pm On May 05 |
emorse:omo! The whole thing is just tiring. Imagine borrowing $800m and stealing it. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Blazetrailer: 10:54pm On May 05 |
People failing to see that this was where he (Tinubu) got it wrong is the beginning of blindness in that country.No country dares float its currency when the currency is even a secondary currency in its own country. You would have had to make a lot of institutional reforms, banking regulations and other economic policies to make naira trade able and country less dependent of UsD as a means of exchange. Naira is not even traceable in Benin republic or Niger, yet you decided to float it? Nigeria will not recover in 20 years. BRAZEN STUPIDITY!! =ginning of foolishness Tendd: 2 Likes |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Neoteny(m): 10:56pm On May 05 |
nairalanda1: I'm not advocating for either socio-economic theory. I'm simply stating that capitalist economies are built on foundation of lies and deceit. Actually, many of the economies claiming capitalism are more socialist than capitalist. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by BigYash: 10:57pm On May 05 |
bigiyaro:The thing dey tire person o.. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by tctrills: 11:08pm On May 05 |
Basicend:Oga this is not the case of an answered prayer. Don't blame God for this one. Blame the fool in Aso rock. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Threedoorsdown: 11:54pm On May 05 |
nairalanda1: As simple as abc We need to move from consumption to production. This isn't about politics now Look at north Africans, they have strong economy cos they produce most things they use. Even Saudi that's well known for oil produces cars and are deep in robotics We are jst focused on oil. We don't even produce enough rice to feed ourselves Local production must be encouraged, research must be encouraged,a serious country would habe mandated all public office holders to use Nigerian cars like Nord or innoson or whatever. No foreign cars should be imported for them except from their pockets Encourage SMEs. Not everytime banning one business or the other. But all these are dreams sha cos if country better, politicians no go see wetin to use steal and get votes 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Anonimoux: 12:26am On May 06 |
₦1,500 to $1 is the true worth of the Naira currently. All these fire brigade economics will not lead anywhere. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by shugamummy: 1:50am On May 06 |
I thought Tinubu has the abidoshaker solution with his Cardoso economics. What is happening? Is the Naira not fighting back again. If it crosses ₦1,500 again, it will breech ₦1,900 faster. helinues: |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by femicyrus(m): 2:36am On May 06 |
nairalanda1:Nigeria is also an exporter of goods and services with free market operations. Do you know how many redeem, winners, deeper life etc branches all over the world with foreign currency as tithe and offering coming into Nigeria weekly? Does that made the naira to appreciate? |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by ChybuzzDD(m): 2:42am On May 06 |
nairalanda1: So, petrol subsidy removal will no longer due the magic? And that's after unnecessarily inflicting the masses with severe sufferings and penury. 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by ramond007(m): 3:11am On May 06 |
helinues: |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by civilserva: 4:06am On May 06 |
bigiyaro: Continue to teach them. Most of them don't have sense |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Lavor234: 4:31am On May 06 |
Instead of Tinubu to beg Emefiele to cut him soap he is doing what I dont know..after crypto,BDC , who next? 2 Likes |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by kaludestiny10(m): 5:41am On May 06 |
It's a well known secret that the Tinubu administration only did an abracadabra some with weeks back to reduce the exchange rate of naira to a dollar which is a short term solution. Now that the abracadabra has finished, I wonder what they are going to do next. A country that solely depend on crude oil export as it's main source of foreign exchange, how does she want to balance the ratio of naira to a dollar. We just dey deceive our self for this country. 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Inosky: 5:49am On May 06 |
Somebody wey no get any for em head Dem use tribalism force it down on every sane man's throat. Just roughly 1 year and everything is crumbling from the past wreckage. How will it be in the next 3 years? 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by nairamaniac: 5:53am On May 06 |
nairalanda1: Nice post. However it's not about all 3 candidates saying subsidy must go. It's about several other factors: 1. The timing into their new regimes. 2. Auditing of what we are really subsidizing. 3. Making sure we can produce alternatives here in Nigeria before removing the subsidy. Tinubu goofed with the ways he went about it bigtime. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Ken4Christ: 6:05am On May 06 |
LibertyRep: They are all wicked and unreasonable leaders. They are mentally lazy and overly corrupt. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by olaniyilukman(m): 6:25am On May 06 |
Racoon:stop defending this nonsense bro |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by moneyissweet(m): 6:39am On May 06 |
No be you and your gang carry Tinubu matter for head like hot akara, ogbeni you must explain to us o helinues: 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by BondRiv: 6:41am On May 06 |
Politicians are chiefly responsible for this. Unpatriotic corrupt elements. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by ShoeGetSize: 7:05am On May 06 |
1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Fuckyoumod: 7:10am On May 06 |
Racoon:This is not the case, a lot of you are ignorant of happenings and how politicians are manipulating the naira. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by rinzaugustine: 7:18am On May 06 |
Tinubu is a curse to Nigeria 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by ablejesus26(m): 10:12am On May 06 |
Kobicove: What panic are They causing?? Are the effects of this Full Scale Calamity called Tinubu not heavily felt in Real Life?? 1 Like |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by nairalanda1(m): 1:25pm On May 06 |
nairamaniac: I hate to defend tinubu, but as someone once said, there is no good time to remove subsidy. Even GEJ that had something ready for his own subsidy removal was still blasted by NIgerians. |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by ebufa: 2:19pm On May 06 |
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by MIKOLOWISKA: 4:53pm On May 06 |
descarado:Accepted yes Anomaly no |
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