maasoap:


Many Nigerians are saboteurs, you have to agree to that. Saboteurs in the sense that many Nigerians are simply buying dollars to keep in order to sell later and make profit, simple as that. Pure currency speculation which is harmful to our local currency and economy.
You even see popular and famous people online encouraging Nigerians to engage in currency speculation. Even teenagers on the streets are buying as low as few dollars for the purpose of speculation.
Nigeria placed ban on whole 41 items from importation under Buhari and it is still in effect till today.

As far as you know this your comment is the reason the Nigerian economy is kissing the dust? SMH. Anyway, I don't know how schooled you are. But, out of many possible critical questions, answer only this: are there no speculators in other countries where the currency is stable?

Kewtt:
Until we become a producing economy.... nothing done to the value of dollars will be sustainable. You can't build something on nothing

Can somebody help to explain the reason for increase demand for dollars even with a significant reduction in economic, physical and social activities in the country.

Terrible

Tyche:
Simple. People blaming binance and other CEX's are just parroting propaganda

Some are even blaming Nairaland! You can't be sensible and support the criminals in power.

Bula bahhhhh . 😆

Kewtt:
Until we become a producing economy.... nothing done to the value of dollars will be sustainable. You can't build something on nothing

Nor mind them.. This exactly the same thing HE P.O said but instead of keeping quiet or tackling the message.. they atacked him and called him all sort of names. slowly but steadily it is going back and its becoming obvious that the man from a certain osun village and the nigerian oscar cardoso ave nothing to offer.

Kewtt:
Until we become a producing economy.... nothing done to the value of dollars will be sustainable. You can't build something on nothing

What were we producing during Buhari's administration that naira was stronger and we are not producing it now under Tinubu which makes the naira to be very weak?

HeroicMeastro:

Okay what should the country be producing?
I totally disagree with this issue of "producing economy etc" instead, attact foriegn investors by providing enabling environment.

You mustn't comment. Silence from you would have been better. Now you don remove all doubts.

Following The Update

CBN should pump in more dollars at #1,105 like before now

All those low rates they issued in the last 2 months or so were just oshofree.

And new p2p platforms keep erupting. Latest one is the Lily Project https://lily.africa. Previously didn't think it was possible to do direct p2p e-currency swap together with crypto.

On day1 in Office, Tinubu destroyed the naira.



Day 1

poweredcom:
Very useless country

The legend of the Beggars Dens, I dey hail you.

na content creators cause this one lol

maasoap:


Many Nigerians are saboteurs, you have to agree to that. Saboteurs in the sense that many Nigerians are simply buying dollars to keep in order to sell later and make profit, simple as that. Pure currency speculation which is harmful to our local currency and economy.
You even see popular and famous people online encouraging Nigerians to engage in currency speculation. Even teenagers on the streets are buying as low as few dollars for the purpose of speculation.
Nigeria placed ban on whole 41 items from importation under Buhari and it is still in effect till today.

why so pained? Leave your money in naira and watch your money burn, simple as that. I choose not to let my money burn, and so will hedge my savings in a stable currency.

Live and let live, no be so una dey say? Lol

Wetin consign saboteur for this matter. Some of us simply don't wanna join the league of unfortunates, due to the stoopid decisions of their stoopid leaders.

I know how much easier my life would be today, if I had converted a savings of 3m in 2015 for $20k and just forgot it in a dollar mutual fund. Hold your naira abeg. Nobody's stopping you.

OfeAchi:
I pray it gets to 1900 per dollar. I bought at 1700 some months back thus I need to recoup and make outstanding profits.

I bought at 725, e be like that one na super duper outstanding profit.

Anyway, I ain't selling till the two refineries come on stream. Emi o le je ki Nigeria ba aye mi je. Awon t'aye won ti baje OYO ni e wa. Emi o le join yin ooo🤣

We should be thanking God that japa wave has died down since this year. If to say that japa pressure on FX continued till this year, e go don burst that 2k to 1USD tey tey

onatisi:
This problem is simple common sense economic issue . Increase production ,reduce importation , improve security ,and automatically the naira rate will improve , you can't continually defending the naira artificially and think that will change the realistic value of the fx market. Well we don't even have people within common sense in power anyway .

it is simpler sef. But dem don take lies and deception curse the APC and their hopeless minions. Refined petroleum products gulps 37% of FX. Commonsense dictates that once we can refine our products in Nigeria, there will be a lot of dollars freed up and available. Of course, petrol price will go up to the thousands but the naira will be stronger and better ( this is for those who somehow expect Dangote to reduce petrol price🤣, petrol costs more to refine than diesel, so if diesel is 1k, find X)

But we still dey wait for PH refinery after the third deadline elapsed March 31, and Dangote date remains unknown.

But once you dare call out the lies, deception and propaganda, some unfortunate accursed fellows will say you're unpatriotic.

All those who hailed Buhari for 8 years only to turn around and blame him and have now carried on that same legacy to this one, una no go die better. Your lives will perpetually remain in the state Nigeria is today, one without purpose and direction!

Like the decrepit griller at dem manna would say, NO BE CURSE, NA FACT.

Dollar is going up, cos there has been too much backlash on the CBN gov, accusing him of depleting our fx reserve to sustain the naira. The man came out to deny it, and in an attempt to support his claims, he took a break from taking more $ from our fx reserve, and immediately, the naira started to drop again. The trouble this will cause ahead is going to be brutal, cos it will get worse.

helinues:


The empowerment been done by this government is consumption bah?

Why was some of our borders closed for years? For more importation?

There are several factors that determine the exchange rate, demands and supply is one of the major factor

Incoherent blabs as usual

PressMyButton:

This olodo is confused, today, he'd bring the official rate, tommorrow, he'd bring the parrallel rate, depending on what suits his narratives. Whenever naira gains, he would run under his bed, you won't see him open thread.

The summary of all this is that the naira is being destroyed.

helinues:


The empowerment been done by this government is consumption bah?

Why was some of our borders closed for years? For more importation?

There are several factors that determine the exchange rate, demands and supply is one of the major factor

Under this government, hundreds of manufacturing companies have closed shop. This is the worse time to be a manufacturer in Nigeria. Even poultries are closing down.

helinues:


The empowerment been done by this government is consumption bah?

Why was some of our borders closed for years? For more importation?

There are several factors that determine the exchange rate, demands and supply is one of the major factor

If you know amount of dollar 💰 politicians kept in their houses you will pray to leave Nigeria, the citizens only defend criminals due to tribe, former governor of kogi state for example, do you thing his money is in Naria ??

maasoap:
Dollars hoarding has started again! Nigerians!!

Stop blaming Nigerians for doing the right thing. What is wrong with having your savings in a stable currency?

DatNiggaDaz:


Toh ko, hot ni

Operation grab, snatch , and run away with it

Some school in Lagos collect fees in dollar 🤑, some hotel in Lagos collect fees only in dollar 💵, some restaurants, some residential apartments collect money in dollar 💵, now tell me how can Naria be stable. Let keep chasing shadow.

Franklyspeakin:
ekukeeeee I can never vote a druggie. be mindful of your comments. God is helping me because I saw it, I raise alarm but people didn't listen

Sorry boss.

maasoap:


Many Nigerians are saboteurs, you have to agree to that. Saboteurs in the sense that many Nigerians are simply buying dollars to keep in order to sell later and make profit, simple as that. Pure currency speculation which is harmful to our local currency and economy.
You even see popular and famous people online encouraging Nigerians to engage in currency speculation. Even teenagers on the streets are buying as low as few dollars for the purpose of speculation.
Nigeria placed ban on whole 41 items from importation under Buhari and it is still in effect till today.

You call someone a saboteur because he chooses to invest in a stable currency and not in the unstable Naira?
Oga it is only foolish to keep your money in naira.
If you had your money in naira last year, by now it has depreciated by over 200%.
If you love yourselves, your family and even your nation, why will you intentionally choose to be poorer?

anonimi:


Peter Obi is a fraudulent scammer who says what he fails to do.

Why should anyone who is not a scammer like him, take such a person seriously

And aren't there supermarkets in production oriented economies like USA and China?
It's evident many Nigerians lack critical thinking.

ogododo:


https://punchng.com/naira-closes-1402-at-official-market-as-dollar-demand-persists/

The ££ already increased 2 times this morning against the naira by N each time, its now N1720 to the naira.

Treadway:
it is simpler sef. But dem don take lies and deception curse the APC and their hopeless minions. Refined petroleum products gulps 37% of FX. Commonsense dictates that once we can refine our products in Nigeria, there will be a lot of dollars freed up and available. Of course, petrol price will go up to the thousands but the naira will be stronger and better ( this is for those who somehow expect Dangote to reduce petrol price🤣, petrol costs more to refine that diesel, so if diesel is 1k, find X)

But we still dey wait for PH refinery after the third deadline elapsed March 31, and Dangote date remains unknown.

But once you dare call out the lies, deception and propaganda, some unfortunate accursed fellows will say you're unpatriotic.

All those who hailed Buhari for 8 years only to turn around and blame him and have now carried on that same legacy to this one, una no go die better. Your lives will perpetually remain in the state Nigeria is today, one without purpose and direction!

Like the decrepit griller at dem manna would say, NO BE CURSE, NA FACT.

Or they call you ipob or igbo

Kewtt:
Until we become a producing economy.... nothing done to the value of dollars will be sustainable. You can't build something on nothing

Production has not been part of this administration manifestoes. And that's where the majority votes went to.
Nobody should be disappointed.
The reason why people are expecting something different is what I don't understand.

anonimi:


Peter Obi is a fraudulent scammer who says what he fails to do.

Why should anyone who is not a scammer like him, take such a person seriously

By their fruits we shall know them. You voted for the real scammer my brother. What are the fruits of the Tinubu government? Hunger, poverty, sorrow and death.
Stop blaming the one you refused to vote for and concentrate on the failure you voted for.