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Nairaland Forum / Nairaland / General / Business / Naira Continues Free Fall On Official Window, Trades N1482.57/$ (14453 Views)
Naira Falls At Parallel Market, Appreciates In Official Window / Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market / Naira Falls To Record Low At I&E Window, Trades ₦993/$ (2) (3) (4)
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Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Angelfrost(m): 9:59am On Jan 31 |
ariesbull: I find myself getting more and more irritated by almost all religious Nigerians these days, especially Christians. When I hear pastors calling out prayer Points for the nation, it deeply offends me. Well... The opium that Karl Marx postulated religion to be is already expiring in this generation. Youths are fed up with that crap. The reality of today overrides that opium effect. 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Bullfallo(m): 10:00am On Jan 31 |
Hanndye:yes its a scam all along. How many Nigerian can access the official rate. For people like us it’s wasn’t new because we have been buying for that rate. Official or no official me and you know the market is controlled by the street rate 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Bobloco: 10:01am On Jan 31 |
Yankee101: What is the black market rate and what is the official rate |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Angelfrost(m): 10:01am On Jan 31 |
musicwriter: You were cheated! It's actually 1465 to 1490 in most platforms. |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Never4getU: 10:03am On Jan 31 |
Shey we will not die like this |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by JasonScoolari: 10:04am On Jan 31 |
Beuberry:Don't patronize me..... Don't flatter me. You voted for this failure because of tribal sentiments. Hypocrite 11 Likes 1 Share |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by nairalanda1(m): 10:04am On Jan 31 |
Right now, government cannot bring naira back to 'normal' without taking a loan, or without taking a loan. And yes, this is tinubu's fault. IN 2015, Tinubu's acolyte, Osibanjo, told us they were here to diversify the economy. One nice beauitful speech he gave. Today, the government that he helped bring in has not only failed to bring about diversification, but due to their own incompetence, and partly due to situations beyond their control, but even then, it could have been mittigated via diversification, have left us with a hefty debt that requires 90% of our income to settle now. SO, naira is going to keep falling. NO ifs, no buts. We can still take the hard decisions needed...raise tax to gdp ratio, diversify, and become an exporter of manufactured goods and services. (I no see this government doing am) |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Anunakeeh: 10:05am On Jan 31 |
panpan: |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by ariesbull: 10:10am On Jan 31 |
Angelfrost:I don't even listen to those clowns that call themselves pastors again especially that Redeem old clown 2 Likes |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by ufotunang: 10:11am On Jan 31 |
See what Tinubu and APC has caused 🙄 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Beuberry(f): 10:13am On Jan 31 |
JasonScoolari:You are the hypocrite. If I vote my choice and the person fumbles, I won't defend him. Now you can see me condemning this govt. No pain, no gain,lice goes on till I v the chance to elect another person. Unlike you who's bittered cos of Hoebee & Atiku! The pain is in ya heart! Endure till eternity!
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Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by ufotunang: 10:13am On Jan 31 |
More exportation of goods and less Importation of goods and valuing and patronizing what we have in this country is the solution to this dollars rising everyday and the naira depreciating and losing value against the dollars |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by bdon123(m): 10:13am On Jan 31 |
JasonScoolari:He built lagos wit stones n gravel,he laid d foundation wit number y16 iron columns. Wat else hav we nt heard |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by nairalanda1(m): 10:15am On Jan 31 |
musicwriter: The cause of poverty in most third world countries is simple. Most third world countries rely on the export of a raw material, or several of them, or oil. The problem is , the prices of these things are not set in the country. And anytime a country tries to set the prices, the buyers go to countries with lower prices. This means that most third world countries never get a high enough price for what they sell, so they are chronically broke. And the funny thing is that the raw materials we sell are used to make stuff which are sold back to us at higher prices. Result,....we take loans. Also, as I said here earlier, most third world countries at independence had a tiny middle and upper class and a large poor majority. Most of them in response tried to uplift people out of poverty through a combination of subsidised services and also via low taxes. Of course, such things need far more money than is available to run well. Result...we take loans again. The only third world countries that have broken out of the trap are countries like China and SOuth Korea, who focused their mind on industrialization and allowing the free market. Result (AFTER some period of hardship)...a prosperous economy that exports. (China used to have a gdp that was less than many African countries at independence. South korea in 1960 was behind Senegal even). But that means prolonged hardship...and there is no guarantee that people would buy your manufactured stuff (it took years before people would accept made in china or south korea stuff. As a child, made in china toys were useless back in the 1980's...now. And SOuth korean cars were crap at the begining. No sane person would buy a Hyundai...now...). So, we throw dollars to maintain the illusion Result...we take more loans again. 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by JasonScoolari: 10:15am On Jan 31 |
Beuberry:You vote your choice or you vote cos of tribal and religious sentiments..... Clown 🤡 Don't come under my comment to flatter me and tell me you don't like what's going on in the government, that's hypocrisy chapter 4 vs 4 Move ahead, hypocrite 8 Likes 1 Share |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by JasonScoolari: 10:16am On Jan 31 |
bdon123:My brother... 3 Likes |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Beverlyjean(f): 10:19am On Jan 31 |
Trybes: Nigeria is crumbling right b4 our eyes.... the reason why insecurity is overwhelming is cos of increased hardship... most businesses and shops are shutting down... when the poor have nothing else to eat , they face the rich.... minimum wage is 30k... a bag of purewater is 200naira and increasing ... a plate of food is 1500... by the time a plate of food hits 3500...u sef go fall enter street 2 Likes |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Starpro87(m): 10:19am On Jan 31 |
Donwilson88: Shore up power supply to boost local productions. The demand for dollar is more than the supply, so no magic would be able to save the naira. It's as simple as that. We must be strategic about it or it will maintain the downward trend. 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Angelfrost(m): 10:20am On Jan 31 |
nairalanda1: You see that last paragraph... It will never happen! Not when these leaders are more concerned about reelection and stealing. Nigeria is irredeemable! This is not pessimism! This is the undeniable Truth. 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Zeebuy: 10:21am On Jan 31 |
APOPTOSIS: Aswear. I've always earned in USD and I keep a maximum of ₦500k at any given time. All my funds are always in USD in my US account. That's why when I see people hailing their oppressors, I just laugh. Mentally unstable people, most Nigerians are 7 Likes |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by sportskid(m): 10:21am On Jan 31 |
Angelfrost: Is Tinubu a Pastor? Or is any of our Previous Presidents? How does this post, Stir Up Your Anger For God or Religion? Religion is not the problem of this world ok? If anything it's our hope for a better life , if not here then in the afterlife. There are many Religious countries who are doing great E.g Arabs, Israel, Rome etc. If you want to be an Atheist be an Atheist,but dont blame the failure of your country on Religion. I am a very blessed man, and I attribute my Achievements to the grace of God and there Are Billions of people like me. |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Basic123: 10:21am On Jan 31 |
JasonScoolari:No evidence that your miserable candidate will do better
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Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by nairalanda1(m): 10:22am On Jan 31 |
Beverlyjean: Revolution would not work. The fact is, we are using 90% or more of our revenue to service debts...and we are also still reliant on one source of income. A revolution would not change both facts on the ground immediately. It might give us the satisfaction of seeing the corrupt elite being punised rightly, but it won't change anything. We would still have to pay our debts (and any refusal to do so would lead to us being locked out of the global market, not funny)...and we still have to diversify (which in itself takes time to see benefits). |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Angelfrost(m): 10:23am On Jan 31 |
sportskid: You are not making sense at all, and I find that amusing. Who is a cursed man?!! Who is attributing his success in life to the Devil?!! If you can't understand simple English, then crave for further clarification instead of needless defensiveness. Praying and Fasting for Nigeria will not improve Nigeria... It never did 50 years ago, and it won't happen now. Facts!!! Shalom!!! |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Zeebuy: 10:24am On Jan 31 |
ufotunang: That's not the major reason. Your politicians stole y'all blind. When Tinubu was sharing $25k per delegate at the APC primaries, bribing everyone in USD what did you expect? Na today wey Nigerians start to dey import more than we export? |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Jeyun: 10:24am On Jan 31 |
ogododo:let me shift from the topic. Peter obi wife was caught pooing in the middle of main market onitsha. Some body that cannot manage his wife wants to come and rule Nigeria. Agbadorians afar? Food don drop o. We must change the topic to save our universal failure of a president asiwaju. Oya Reno omokiri were you dey oh, peter obi wife don shit for main market onitsha. |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Deogratiasfx: 10:24am On Jan 31 |
Tinubu is working....where are the people who know little about economy that keep insulting what they don't understand? |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by nairalanda1(m): 10:24am On Jan 31 |
sportskid: 1.Israel is a secular jewish state. Religious jews are a significant minority, but a minority. Christians form 1-2% of the population. 2.Italy is a secular state. Rome is its capital. Most Italians do not go to church regularly. (That is why pope francis is offering blessings for LGBTQ copules, he wants to attract more members). 3.Most Arab countries are poor, and those that do well, still have a large poor underclass. |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by mdimefields: 10:29am On Jan 31 |
A country that cannot boast of 24 hours power supply is talking about boosting local production. Dey play. Very useless country filled bigots and religious fanatics. Una suffering never start. 2 Likes |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by chigo32: 10:30am On Jan 31 |
Reno is a stupid man, Nigerias use mtn and Airtel during d time of Obj, Musa, Jonathan and dollar was stable. That stupid Reno need mental check on his brain Validated: 1 Like |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Deogratiasfx: 10:31am On Jan 31 |
Zeebuy: Pls continue earning in USD....let people continue worshipping their oppressors. 2027 they come back again and recycle the promises, Wait till 2031 and the cycle continues. That is why before u assist anyone, except you are doing it because of God, check their mindset, if it is anything close to these myopic thinking, distant ur self. 3 Likes |
Re: Naira Continues Free Fall On Official Window, Trades N1482.57/$ by Beverlyjean(f): 10:37am On Jan 31 |
nairalanda1: Revolution is fuelled out of anger of the present situation caused by bad leadership... not necessarily about hatred of leadership.... |
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