Buying today is: N151 in the white market.

The Naira is being set to crash against the Dollar by Nigeria's reserve Bank the CBN as it claims it has to safe guard its Foreign exchange reserves. Nigeria looks set to face inflation from scarcity of international trade products and a drop in world wide production levels.

Affalatus:

The Naira is being set to crash against the Dollar by Nigeria's reserve Bank the CBN as it claims it has to safe guard its Foreign exchange reserves. Nigeria looks set to face inflation from scarcity of international trade products and a drop in world wide production levels.

Amen brother,  Down the naira goes again. Inflation will be mad in Naija in the next few months. It will take time for all these instability to feed through.

When I was in Naija last week I when to buy tiles for one of my unfinished projects at a company on the oshodi- Mile2 express. The owners of the company told me they are still keeping december prices and they don't know what to do as their tiles are shipped from spain. I asked if Naira goes to N200 to a Dollar. The guy said if that happens, he will close shop and go back to his country as not many nigerians will be able to afford their products. And that translates to Job losses as well.

@ BAC its actually so surprising that you keep expressing your joy at the fact that the naira is falling. I have watched for a while and noticed this trend. Imagine you saying Amen to someones comment about the dwindling fortunes of the Naira. Have it in mind that what goes around ma Brother definitely comes around. No hard feelings cos I aint hating on you for any reasons its just an observable truth. Things would can definitely be better for the nation thats ma hope. Cheers.

triistar86:

@ BAC its actually so surprising that you keep expressing your joy at the fact that the naira is falling. I have watched for a while and noticed this trend. Imagine you saying Amen to someones comment about the dwindling fortunes of the Naira. Have it in mind that what goes around ma Brother definitely comes around. No hard feelings cos I aint hating on you for any reasons its just an observable truth. Things would can definitely be better for the nation thats ma hope. Cheers.

@Tristr86,
Very good observation, I have a huge investment in Nigeria real estate, but as I am not looking to turn them to cash, so the fall of naira does not make much difference to me. But on the other hand I am still investing heavily using ££ and as you well know the ££ has been pulling back at an alarming rate against the $. That is causing my money not to go far enough. The only hope I have is the Naira falling against the dollar, that will make me recover a little bit from the falling £.

That is a picture of where I stand. The way currencies affect everyone may be very different. But does that mean I do not pity my Nigerian breadren? No I do feel for them. But until Nigerians can find other ways to serve the world by not only drilling oil, I don't see naira appreciating in an economic down turn. We have left the industial Ago long ago, we are in the information Age, we are about to enter the communication age. What is Nigeria doing about it? They can't even turn on the Light constantly in a city of 10M people. The last time I visited a police stopped me at Ikeja Allen Junction for going through the red light even though it was green. I have to pay him an offering of N1000, and that is what our so called empty headed rulers are doing as well. Nigeria needs a lot of cleaning up to do.

Well this is epistle written and read by me, don't take it as gospel.


Peace

Today rates please £ and $

I knew it from day one!, CBN has lost the battle to save the naira for now. I am predicting N170-$1.
All these hurding policy will only keep pushing the dollar up.
Yaradua bleeped up big time! if he had fought corruption Ibori's money would have cushioned the effect of the economic crisis.

Tha_dude:

I knew it from day one!, CBN has lost the battle to save the naira for now. I am predicting N170-$1.
All these hurding policy will only keep pushing the dollar up.
Yaradua bleeped up big time! if he had fought corruption Ibori's money would have cushioned the effect of the economic crisis.

what is sSoludo doing he is the one in charge, he is a phd holder you know just like madam niddi okereke told us!

I think the $ is settling at N150, at least thats where it's been rotating at in the last 2-3 weeks.

That you have a Phd does not mean you can handle this type of crisis. Soludo is just going through the motions. He has not got a clue what to do. The best thing though is to tell the truth, the truth is that not much can be done for the naira,

BAC:

That you have a Phd does not mean you can handle this type of crisis. Soludo is just going through the motions. He has not got a clue what to do. The best thing though is to tell the truth, the truth is that not much can be done for the naira,

Exactly, He is in charge of the CBN so he should take responsibilities for almost everything that happens with the currency and the banking sector, the CBN has been threatening the banks as if he is scared of throwing the books at them, he is protecting them too much. All they have to do is explain what's happening to the public instead of allowing unnecessary speculations

the things are in nigeria its very difficult to believe our so called technocrats haven't got a shares in major banks and companies which will definitely affect their duties as regulators- with people like madam Ndi Okereke its really hard to believe she hasn't got her hands in the cookie jar

1USD = N159

1GBP = N229,

Jesus will save us, , amidst all the poverty, more come join,

I Advised people to buy the dollar and keep a month ago, I hope you did. if you are selling now do you know that you will be laughing to the bank. My target price is $1 - N175,

Nothing is stopping this one, not even Soludo X 100 , except JESUS of course,

Bac, I guess you're right. Today two people cofirmed 180+ to a dollar
Another NL source confirmed 175 at Eko Hotel

Do not use this means to try to launder cash, only interested in buying from reliable Nigerians with verifiable source of income.

We are SSM Nigeria, a local franchise trading company with affiliation with SSM UK, HK, China etc.

We are interested in buying any of the following currencies paid into HSBC Hong Kong:

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Great Britain Pounds (£)

Euros ( € )

Japanese Yen (¥)

Hong Kong Dollars ($)

Canadian Dollars

And any other major currency.

We will be glad to pay your recipient anywhere in Nigeria, either by pick up at our office or payment into their bank account.

Interested sellers should please email: damola@damola.com with offered rate, volume of cash, and we will be glad to get the ball rolling.

Thanks.

luckyme9:

Bac, I guess you're right. Today two people cofirmed 180+ to a dollar
Another NL source confirmed 175 at Eko Hotel

Yes brother, I pity those businessmen in Nigeria that survive on the exchange rate for business transactions. And the people that do not have a way out but to survive on imported goods. Inflation is the order of the day. Soludo and friends knows they do not have power to stop this. All they can do is talk empty talks.

BAC:

Yes brother, I pity those businessmen in Nigeria that survive on the exchange rate for business transactions. And the people that do not have a way out but to survive on imported goods. Inflation is the order of the day. Soludo and friends knows they do not have power to stop this. All they can do is talk empty talks.

Speaking on behalf of Nigerian businessmen,i'd say "WE ARE IN TROUBLE"
only God can save us. there are losts of containers at various ports awaiting clearing and most of the owners cant get money to clear it because they depended on the banks for money which is not forth coming.
well, i never believed in borrowing from banks, so i'm safe in that angle, but the truth is that the rise in dollar or rather the fall of the naira will cause a scale of infaltion never seen before unless something is done about it.
many importers have made orders from factories abroad but cant get their supplies because of the naira crash.
i personnally have goods in a chinese factory and they called yesterday that my goods are ready.
My people, i cant pay 175 naira for a dollar. considering the balance i'll pay the factory,, the difference is huge!!!!!!!!!!!
i couldnt sleep last night.

tRY To sleep my friend.

it'll settle, and when it settles, it's only those that slept well that'll smile,

So, please, sleep, and think,

samparian:

Speaking on behalf of Nigerian businessmen,i'd say "WE ARE IN TROUBLE"
only God can save us. there are losts of containers at various ports awaiting clearing and most of the owners cant get money to clear it because they depended on the banks for money which is not forth coming.
well, i never believed in borrowing from banks, so i'm safe in that angle, but the truth is that the rise in dollar or rather the fall of the naira will cause a scale of infaltion never seen before unless something is done about it.
many importers have made orders from factories abroad but cant get their supplies because of the naira crash.
i personnally have goods in a chinese factory and they called yesterday that my goods are ready.
My people, i cant pay 175 naira for a dollar. considering the balance i'll pay the factory,, the difference is huge!!!!!!!!!!!
i couldnt sleep last night.

I really pity your situation. The only comfort I have for you is that Easter is coming a lot of Nigerians are coming home with money. That may swing the price lower a bit . But as you know there is economy problem here as well. I Just came back from the USA,  men,  the people down there are suffering a lot,  unless you are in a profession like the medical profession. Most people are losing their homes right left and center, landlord are not telling tenants to move until the bank foreclose and board the house.  I also notice that Food is very expensive in the US compared to the last time i visited,  More people are moving into washington for Jobs for some strange reasons, maybe obama is providing more opportunities there, I don't know.

I still think things are still more stable here in the UK. on the Job front, if you have a good skill.

@BAC
Which time u go US come back now now, na wa for all these hyping o, your ability to get a job in USA today depends on ur past record! has always been. Some firms are cuttin jobs and while others are fast recruiting. Food is the cheapest thing in the USA prices have gone down cars are now at bottom level they beg u to buy a car, credit lines for car purchase has opened up, It took me less than a week to get credit with 1yr interest free into my account to purchase my car outrightly from d dealer. There isnt any better time to take advantage of business in USA than now especially for those buying cars and sending to naija. Jobs that seriously need workers are: Hospital, IT technology, construction. If u are in the banking, accounting or insurance sector u're in trouble except u go for retraining. Gordone brown was here yesterday preaching against protectionism i hope he wasnt asking American tax payers to extend funds for contruction project to business in the UK. Cos' it has been said that only made in america steel and other equipment will be used in the project.
So! my friend u re dead wrong in ur assumption. As regards housing foreclosure help has come for about 5million Americans with Obama. Those loosing their homes took advantage of d system, bought 2 or 3 homes which was placed on rent. In the new bill before u get help for ur home, u must be living in it. They dont call the U S of A the greatest country in the world for nothing!

Man i remember when it was 200:1

I was cashing in

Thadude:
I knew it from day one!, CBN has lost the battle to save the naira for now. I am predicting N170-$1.
All these hurding policy will only keep pushing the dollar up.
Yaradua bleeped up big time! if he had fought corruption Ibori's money would have cushioned the effect of the economic crisis.

it's now going to 500 naira sir

platinumnk:
Man i remember when it was 200:1
I was cashing in

year 2009 . it's now 2021