Every event, no matter how positive or negative present a very viable way to make legitimate money just by paying attention.

If you live overseas and have been following current events and rate of exchage in Nigeria, you know how the rate of exchange has been.

What anyone with decent amount of money to invest can do is to send the money to Nigeria and exchange it. Deposit the money in the bank and sit on it.

Within 6 months, Naira will appreciate and you can change the money back and recoup your investment.

Lets say you send $10,000 to Nigeria today, you will get about N2.05m for your money. Put it in the bank and save it.

In the next 3 months or so, if the rate of exchange will come back to around N175-180, that will put about N300k in your pocket or approximately $1700

There is no way to make that type of money in the U.K or U.S Bank

[size=18pt]How do i know? :[/size]

Election will be resolved in few weeks. It does not matter whoever wins, investors and consumers will begin shopping and buying things again because everyone already will know where things are going.

Crude Oil prices are inching up again. Hence, a little bit more of reserve for Nigeria.

Politicians hoarding money and buying all available foreign currency for their political activities will have ease up.

[size=14pt]I AM NOT ASKING YOU TO DEPOSIT INTO MY ACCOUNT. SENT IT HOME AND PUT IN YOUR BANK AND WATCH IT GROW.[/size]

[size=16pt]Strike the iron when its hot.[/size]


My 2 cents

Touché

Like we say back in the days 'in your unknowiness'

The Naira slide is not as a result of the elections. And if you expect the naira to come back to #170, then I'd say keep dreaming

Connoisseur:
Like we say back in the days 'in your unknowiness'
The Naira slide is not as a result of the elections. And if you expect the naira to come back to #170, then I'd say keep dreaming

Call me the dreamer then. You will be back here in few months to eat your words

USAutoBuy:


Call me the dreamer then. You will be back here in few months to eat your words

Bookmarked

Like i told you unbelievers, Naira is appreciating now. Its now around N205

And election was just concluded few days ago

Bookmark this page and watch what happens

USAutoBuy:
Like i told you unbelievers, Naira is appreciating now. Its now around N205

And election was just concluded few days ago

Bookmark this page and watch what happens

Naira will surely appreciate in the next few months. Thumb up bro! It's a very good idea

xtratagem:


Naira will surely depreciate in the next few months. Thumb up bro! It's a very good idea

Good analyses op, but i don't believe d appreciation will com fast, infact it might worsen. I love ur mind set but lets talk, what factors affect d value of a currency globally?

emperoracro:

Good analyses op, but i don't believe d appreciation will com fast, infact it might worsen. I love ur mind set but lets talk, what factors affect d value of a currency globally?

You have to realize that most of the factors that has been affecting the Naira is more artificial (devaluation) as opposed to the global push/pull factors.

Naira was devalued. The political uncertainty made a lot of people actually hold back on discretionary spending. Investors also held back. Total oil for instance just completed selling almost $1m assets has been sold in the past year or so.

Most people were waiting for the other shoe to drop which by all indication it wouldn't. At least in the short while, unless of course this administration falls short of expectation.

Naira now has appreciated almost N20/$1 in just a matter of few days simply due to the political factors.

I just called my Malo now. He will sell $ for me at N205 as opposed to N225 last week. That means they will buy possibly at N202.

Grab a seat and watch the free-fall in the next few weeks. Good news for us all

USAutoBuy:


You have to realize that most of the factors that has been affecting the Naira is more artificial (devaluation) as opposed to the global push/pull factors.

Naira was devalued. The political uncertainty made a lot of people actually hold back on discretionary spending. Investors also held back. Total oil for instance just completed selling almost $1m assets has been sold in the past year or so.

Most people were waiting for the other shoe to drop which by all indication it wouldn't. At least in the short while, unless of course this administration falls short of expectation.

Naira now has appreciated almost N20/$1 in just a matter of few days simply due to the political factors.

I just called my Malo now. He will sell $ for me at N205 as opposed to N225 last week. That means they will buy possibly at N202.

Grab a seat and watch the free-fall in the next few weeks. Good news for us all

Good thank God u mentioned the new government. Actually i trade forex both fundamentally and technically, along side other businesses. To me the incoming government's policies is wat will determine d value of our currency.
Do u see the devaluation of our currency as a bad move?

Devaluation is good and bad. It encourages investment. Foreign investors can get more for their money locally and it prevents capital flight. However, it is also a double edge sword. It can also make some investors nervous. Nobody wants to invest in a country today only to be told tomorrow that the investment is worth 25% less in few weeks.

The stock mkt rose 3% just on the conclusion of the election. If there in confidence, in the political climate, it goes a long way in bringing more players to the table. The more the players, the better the currency.

When Buhari promised that $1 will equal N1 in a year, i hate to burst your bubble. IT WON'T HAPPEN. At least, not in a year. There are lots of things that will need to be in place for that to happen. Otherwise, South Africa, Canada would have done it by now.

It takes more than just word of mouth. But things should improve a lot in the next year in respect the value of the Naira. Investors confidence is coming back.

Following. The current foreign exchange Economics is beyond elementary. You shouldn't draw conclusion based on one factor (Election), there are other factors which directly and indirectly affects it. We are trusting on the Buhari Government to make good policies that will better the living condition of majority.

Several weeks have passed @usautobuy.

You were only looking at one of the factors that affected the naira slide which is election uncertainties and speculation.
But you didn't factor the real factors such as decline in oil prices, dwindling foreign reserves in your calculations.
The naira appreciated after the elections was as a result of demand and supply; people began spending their electrodollars and all the money they saved in case of any conflict, but then the main factors stepped in and we are still here.
Expect a real gain for the naira when oil price comes back to at least$80/barell or we devised a way to get dollars from other of our vast commodities.

Until then....

USAutoBuy:
Devaluation is good and bad. It encourages investment. Foreign investors can get more for their money locally and it prevents capital flight. However, it is also a double edge sword. It can also make some investors nervous. Nobody wants to invest in a country today only to be told tomorrow that the investment is worth 25% less in few weeks.

The stock mkt rose 3% just on the conclusion of the election. If there in confidence, in the political climate, it goes a long way in bringing more players to the table. The more the players, the better the currency.

When Buhari promised that $1 will equal N1 in a year, i hate to burst your bubble. IT WON'T HAPPEN. At least, not in a year. There are lots of things that will need to be in place for that to happen. Otherwise, South Africa, Canada would have done it by now.

It takes more than just word of mouth. But things should improve a lot in the next year in respect the value of the Naira. Investors confidence is coming back.

You are totally mistaken with your statement that Buhari promised that $1 will be equal to N1. He NEVER said that!!! A newspaper used it as their headline (I think the Vanguard..can't remember for sure. But when you read the body of the story Buhari only lamented the weak value of the Naira as opposed to what it used to be in the past.

Crownvillar:

You are totally mistaken with your statement that Buhari promised that $1 will be equal to N1. He NEVER said that!!! A newspaper used it as their headline (I think the Vanguard..can't remember for sure. But when you read the body of the story Buhari only lamented the weak value of the Naira as opposed to what it used to be in the past.

Not sure where it came from but that is what the populace has been shouting, i know better not to even expect that

I was thinking of this today, €1 euro = N244 naira... Never seen it soo high..
Transferring my funds to Nigeria, it least if the rate goes back down ie N210 in 6 months, I will be gaining like €140 ...
That's a lot you know. Every little helps

One man's loss is another man's gain - wealth transfer.

ummitoagirl:
I was thinking of this today, €1 euro = N244 naira... Never seen it soo high..
Transferring my funds to Nigeria, it least if the rate goes back down ie N210 in 6 months, I will be gaining like €140 ...
That's a lot you know. Every little helps

sorry my topic is not corresponding with your trend.but I need an assistance and its the only way I can get to you.saw your post on black seed.wondering if you are still privelage to it.because am in need of it.my regards

Hi all,

Just read the thread here on the foreign exchange rate in Nigerian and think I should contribute. these are my views.

Furture of the Naira. - Naira will continue to drop due to the following among others... The price of crude at around 50 dollar a barrel has created a huge shortfall compared to the days of Jonathan of over 100dollar a barrel. Those days are not likely to come back in a long time.

2. The sanction on Iran is about to be lifted, Iran is one of the countries with the largest stock pile of crude in its reserve which has not been fully utilised due to sanctions, this will flood the market with another million barrel per day sending the oil price further to about 35 dollar a barrel. This will put another pressure on the Naira and the Naira will drop further.

Now sending money to Nigeria only to buy dollar back in the near future is not a wise business to do. How many times to you want to do that before the British start watching your account for possibe Boko Haram sponsor. Trust me there are better ways, engage US market trading of stocks where it all happens and you can always be ahead of the Naira even when you leave this country.

Machiny:
sorry my topic is not corresponding with your trend.but I need an assistance and its the only way I can get to you.saw your post on black seed.wondering if you are still privelage to it.because am in need of it.my regards

Yes off course. how do i contact you? send me a message on here and we ll get chatting.

ummitoagirl:

Yes off course. how do i contact you? send me a message on here and we ll get chatting.

please how do one send a personal masage here.because have bn going tru the platform t find an option for it.havn't find any.if u don't mind we cld make use of bbm,whatsapp or twitter.

ummitoagirl:

Yes off course. how do i contact you? send me a message on here and we ll get chatting.

please this is my email contactwoke@gmail.com.for an instant chat we cld use any of the social platforms you make use of.tanks for your reply