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Nairaland Forum / Nairaland / General / Business / Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane (19971 Views)
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Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by KanuSE: 10:18pm On Jan 17 |
Nigerian economy is on autopilot ATM, our so called leaders know what it takes to jump start the economy, but they'd rather play to the gallery. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by FreeStuffsNG: 10:19pm On Jan 17 |
mrvitalis:Smh @ the bolded. No wonder, you don't even know who Bismarck Rewane is. Never mind again sir. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by EBEk101(m): 10:22pm On Jan 17 |
I exchange it yesterday for 1265 per dollar Useless aboki naira 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Bhella5(m): 10:24pm On Jan 17 |
TrumpDonald2:All you can do is to shoot your mouth off with zilch knowledge about how these things work. Ariwo ko ni music |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by KanuSE: 10:25pm On Jan 17 |
FreeStuffsNG: You and those who liked your comment should be in the joke section of NL. 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by john1101(m): 10:26pm On Jan 17 |
mrvitalis: with the criminals in power Nigeria is going no where. 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by DAREH13: 10:26pm On Jan 17 |
FreeStuffsNG: Eh be like say the thing no favour them and their family again |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by KanuSE: 10:28pm On Jan 17 |
Bhella5: Make una dey deceive unaselves. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Philipmaxwell: 10:29pm On Jan 17 |
mrvitalis: This is why you aren't an economist.. Devalue to #1700 and defend it aggressively with which liquidity.. If you are going to defend it, why devalue it in the first place? 5 Likes |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Kukutente23: 10:30pm On Jan 17 |
LegendHero:What do you know about rice farming that you're blaming the farmers for the failure of the rice policy hurriedly and haphazardly put together by your paymasters? You're always here to play the devil's advocate. If it were PDP or any other party that was in govt, with this failed economy I'm sure you'll hang them out to dry not make mundane excuses on their behalf. 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by mrvitalis(m): 10:33pm On Jan 17 |
Philipmaxwell:If you devalue to 1700 you need less $ to pay salary and run government freeing up $ to defend the naira in the short term |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by mrvitalis(m): 10:34pm On Jan 17 |
FreeStuffsNG:So why quote me? |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Anatolia: 10:34pm On Jan 17 |
mrvitalis: Where did you learn this kind of stupid economics from that has been proven overtime that it doesn't work in Nigeria. With this kind of economic analysis, we do not need external forces to destroy Nigeria. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by LegendHero(m): 10:35pm On Jan 17 |
Kukutente23: Okay let’s not blame the farmers that embezzle some of the money with their cronies in government. Let’s just pretend that all Nigerians are holy holy and the Buhari was the one that siphoned all the money. I’m sure like that, you’ll be very happy. Go and bring the best fool proof plan from heaven, Nigeria will still game you. Its very easy to blame government from the outside, almost all Nigerians have the solution to our problem until they get to power. I don’t know why you think I’m defending Buhari tho. E no go better for Buhari anywhere he dey, she na him dey pay my bills ni? 1 Like 1 Share |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by favor914: 10:35pm On Jan 17 |
hisexcellency34:How will the Naira not be falling when we have lazy things like you in millions that add no value to society? If I lie, declare When last you got inflow of forex be it dollars, sterling’, euros into your bank aza? |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by mrvitalis(m): 10:35pm On Jan 17 |
Anatolia:Has this ever been done in Nigeria? Never You just borrow money to build infrastructure that's what you have been doing since 1960 Infrastructure doesn't drive economic growth |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Calitoscassius(m): 10:37pm On Jan 17 |
FreeStuffsNG:Absolute gibberish!! you can try as hard as you want to make it sound positive but it is all gibberish! Tifnubu has ruined Naigerian economy, Tifnubu has nothing to offer Naigerians, Tifnubu is corrupt up to his eye balls. You can keep dreaming... nothing wrong with dreaming. Every morron has become unqualified self appointed economy analysts and adviser on Nairaland. 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Calitoscassius(m): 10:39pm On Jan 17 |
Every morron has become economic adviser in the Zhoo. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by favor914: 10:40pm On Jan 17 |
LegendHero:You are absolutely correct in your assertion. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Anatolia: 10:40pm On Jan 17 |
LegendHero: That economic advice of the guy you quoted should be discarded into the trash can. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by favor914: 10:41pm On Jan 17 |
Calitoscassius:Lazy Almijiri be waiting for Tinubu to come & reverse your misery. You no get shame. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Gilgil: 10:42pm On Jan 17 |
He is right. The Naira (at the street rate 1,300) is undervalued by 33% with respect to the official rate(856). It means that the real value is 1,300 1 Like 1 Share |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Calitoscassius(m): 10:42pm On Jan 17 |
More rubbish! the zhoo is going down the drain.. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Anatolia: 10:43pm On Jan 17 |
mrvitalis: Have you heard of the structural adjustment program instituted by Babangida in the late 80's and early 90's? |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Calitoscassius(m): 10:43pm On Jan 17 |
favor914:Yea, just like your lazy almajiri father and generations Your father no get shame. 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Anatolia: 10:45pm On Jan 17 |
FreeStuffsNG: This indeed looks more like a joke! 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by mrvitalis(m): 10:50pm On Jan 17 |
Anatolia:Yes devaluing is one thing, providing access to credit to drive local industries that you have comparative advantage is the Koko |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Anatolia: 10:51pm On Jan 17 |
favor914: Stop insulting the guy. Is it not the foolish policy of Tinubu to devalue the naira that led to the free fall of the Naira. Devaluation of currency only favors countries like China which have high production export and gives then a competitive edge. But for a backward and import-dependent country such as Nigeria, devaluation only inflicts unbearable hardship on the people. We can see that in the number of young people committing suicides, frauds and those who want to japa. |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Bullfallo(m): 10:54pm On Jan 17 |
Any country in the world thats is facing inflation there is massive corruption in that country. There was massive corruption and looting in buhari administration that was the reason the dollar rate was so high to the extent they start defending the naira. When amechi was borrowing money from china and wasting them on railway that leads to no where. All those projects are economy sabotage. The inflation in abacha administration was so much that Nigerians move from cooking with kerosene to wood dust in the 90s, same thing in the 80s when buhari was still there. The fact abacha loot is still been repatriated to this day is a testament to the fact that corruption was so massive in the last administration; the NNPC and Oil thief’s, project scams, CBN e.t.c. Trader loan scam, school feeding scam, rice farmer scam with fake rice pyramid It’s time we dissolve Nigeria and let every region find there new destiny. 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by Kukutente23: 10:54pm On Jan 17 |
LegendHero:Oga no farmer embezzled any money. The highest most farmers got was 45k and a knapsack and fertilizer. The real people who embezzled the money was an APC group that called themselves rice farmer association of Nigeria RIFAN. No one heard about any RIFAN until APC took govt yet your govt was gullible enough to disburse billions through them and other APC henchmen planted in NIRSAL. Majority of the money was disbursed through NIRSAL. So blame you're thieving APC and their goons instead of innocent farmers. And it's sweet to see you can curse Buhari now. 8 years who he was whiter than snow to you and your likes. Everyone knows your antecedent on this forum. Because you wan chop meat you called Cow Egbon 1 Like |
Re: Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane by LegendHero(m): 10:59pm On Jan 17 |
Kukutente23: Na now I know say you no know wetin you Dey talk about. 45m koor, 18k ni. To save your ignorance, below is the structure and you can see Punch report on this. Real farmers got the money and most of them embezzled it. Government agency also use some of their corrupt cronies as front to siphon the money. It is a government workers- Farmer heist. It will take someone that has primary 2 student brain to call those “Farmers” innocent. Innocent Wetin? Even for ordinary Covid- fund wey government borrow ordinary people, they still embezzle am wey them dey hustle run repay. Shey that one too na RIFAN. https://punchng.com/pressure-mounts-on-rice-farmers-as-cbn-massive-loan-repayment-deadline-nears/?amp 2 Likes |
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