So up till now some ppl r still fooling dia self ova naija naira .u want 2 tell me dat u don't knw d cus of naira depreciation? I pity dis country cus we r overwhelm wit evil

.

Neduzze5:
This current government is a real joke!

All it does of recent I'd to either;
Sack Probe Deny Travel Visit Snap pictures Eat dinner with cows Set up Office of President's daughter and some other unmentionable vices!!
#BuhariJoker!!

You're always on drugs.

#Change indeed

ifeelgood:
You're always on drugs.

Sold by you?

Nigerian is falling no market, that's what need to be probed. If oil price rises to $100/barrel today, dollars won't be scarce anymore. Nigeria should produce more goods for export to earn more $$$$$. Nigeria is a consuming nation,we don't produce anything than scammers and drug pushers. Better die pushing drugs in Indonesia and get rich than not trying.

Aboki change my dollar
$1 for N242
Aboki refused but only to me at $1 for N185
But when I returned to buy same dollars I sold, I bought at N245 to $1
So, it goes to show that this dollar issue is only a sabotage by the Northern BDC operators against a South-eastern CBN governor.
It is the case of giving a dog a bad name so as to hang him.
Soon Mr. President will terminate the appointment of the governor. Then the coup would have succeeded.
Buhari can never be trusted if he continues his divisive governance.

How come they didn't bother to proofread the article before posting it on their website?


How could it have depreciated by 42 naira if the baseline value as at June 28 is 220 naira

Surely it's a very simple subtraction which would have enabled them arrive at N22

When demand exceeds supply you have high prices. Mr CBN that's the reason.

---

...

Neduzze5:
Buhari promised us $1=#1 and we will have that or we will have his head!!

#BuhariJoker!!

Where did buhari promised $1 to be equal to N1?

Sincerely the sooner PMB act on the advice of the Economist Magazine about the CBN Governor, the better for Nigeria economy.

The Fed/Treasury Department can track every dollar transaction globally but our CBN need physical presence to know how the Dollar they sold to forex Dealers are being used.

How sad!

Activa:


Where did buhari promised $1 to be equal to N1?

Jukwam ozo!!

hmmmmm

Neduzze5:



Jukwam ozo!!

Olorishiiiii

Misanthrope:
Currency depreciation is normal.

Sometimes depreciating the currency is inevitable, China once devalued their currency by 38 percent, it it becomes too bad, inflation becomes a rule.

Devaluing will only work in an ideal society but you and I know Nigeria is not an ideal society.

Further devaluing of the naira will practically kill Nigerians while investors will so rape the naira that it may sky rocket to N350 to 1 dollar. I don't have to tell you what that implication will mean for Nigerians and its economy.

.

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//

#Save_Our_NAIRA! (SON)

#Save_Our_Economy!

I blame everyone for dis.... how many of us talking buys made in nigeria products so y won't importation be high...
Govt needs to find an alternative for oil for d economy.... so practically it is everyone's fault dat naira will continue to depreciate against d dollar

san316:
So all this while, it is a case of sabotage. Not that the naira is actually losing its value against the dollar.

Intact what is the rate at the NSE?

The government made a policy in order to give value to the naira, it doesn't favor them and they decide to get it through the back door thereby increasing demand where is limited supply. The CBN giving BDCs more dollar is like repealing their policies through the back door. Unfortunate indeed.

I use to say this but most people won't understand. I do wonder why people see the parallel market rate as something serious. The naira is not weak to that extent. The BDC rate is artificial. I do not support CBN giving more dollars to them. It will surely affect that policy to strengthen the naira.

GenOrumov:


Devaluing will only work in an ideal society but you and I know Nigeria is not an ideal society.

Further devaluing of the naira will practically kill Nigerians while investors will so rape the naira that it may sky rocket to N350 to 1 dollar. I don't have to tell you what that implication will mean for Nigerians and its economy.

I concede to your argument, but you have to understand how inevitable this decision is, just take a look at the Greek debt crisis, they would have devalued their currency a long time ago assuming they are not under the Eurozone.

And yes, Nigeria is not an ideal society, but somethings are inevitable. Not devaluing it will only exacerbate the whole issue.

Kayendy:
I blame everyone for dis.... how many of us talking buys made in nigeria products so y won't importation be high...
Govt needs to find an alternative for oil for d economy.... so practically it is everyone's fault dat naira will continue to depreciate against d dollar

nice words, we are all responsible for it.

Immatex:
Aboki change my dollar
$1 for N242
Aboki refused but only to me at $1 for N185
But when I returned to buy same dollars I sold, I bought at N245 to $1
So, it goes to show that this dollar issue is only a sabotage by the Northern BDC operators against a South-eastern CBN governor.
It is the case of giving a dog a bad name so as to hang him.
Soon Mr. President will terminate the appointment of the governor. Then the coup would have succeeded.
Buhari can never be trusted if he continues his divisive governance.

Either you are plain ignorant of what basic economics is in a country like Nigeria where things are upside down (which is caused by greedy people) or you're just not knowledgeable in anything.

What is happening wasn't caused by northern BDC's just for the sole purpose of discrediting the CBN governor but by thieves and greedy people who want to make quick bucks by forcing the naira down by all means and knowing they can get away with it because its Nigeria.

Even if a foreigner heads the CBN, these crooks will do the same thing over again. They won't have a problem with any CBN governor notwithstanding wherever he's from so far he allows them have a field day against Nigeria's economy and the naira.

still waiting for the man who said he will make #1 equivalent to 1 dollar.

san316:
So all this while, it is a case of sabotage. Not that the naira is actually losing its value against the dollar.

Intact what is the rate at the NSE?

The government made a policy in order to give value to the naira, it doesn't favor them and they decide to get it through the back door thereby increasing demand where is limited supply. The CBN giving BDCs more dollar is like repealing their policies through the back door. Unfortunate indeed.

pls nobody is accusing anybody of sabotage, what they are trying to say is that during gej administration,okonjo iweala was using our foreign reserves to defend the naira by selling more forex to the importers thereby relieving the pressure on the naira but buhari preferred to be saving the foreign reserves abroad denying foreign exchange to importers of certain goods like cement thereby mounting pressure on the naira as these importers start buying from the black market which is perfectly legal since Nigeria is operating a two tier exchange market. the solution is for the cbn to go back to okonjo iweala method.

Misanthrope:
Currency depreciation is normal.

Sometimes depreciating the currency is inevitable, China once devalued their currency by 38 percent, it it becomes too bad, inflation becomes a rule.

Your comment seems confusing. If you say currency depreciation is normal. Can you please expantiate.

I am pleading on behalf of the Nigerian importers. pls help clean up this naira depreciation mess.

Emeiefele caused this wahala by asking Bdc to recapitalize
People will want to recoup their money back na!
Emiefele is as clueless as jonathan

Misanthrope:




I concede to your argument, but you have to understand how inevitable this decision is, just take a look at the Greek debt crisis, they would have devalued their currency a long time ago assuming they are not under the Eurozone.

And yes, Nigeria is not an ideal society, but somethings are inevitable. Not devaluing it will only exacerbate the whole issue.

It may be inevitable but at this time it is not an option. You and I know that whatever goes up in Nigeria hardly comes down. Devaluing the Naira should only be carried out WHEN WE HAVE EXCEEDED ALL OPTIONS.

The FGovernment now has to put measures in place, accelerate it and follow it down to the letter.

Immatex:
Aboki change my dollar
$1 for N242
Aboki refused but only to me at $1 for N185
But when I returned to buy same dollars I sold, I bought at N245 to $1
So, it goes to show that this dollar issue is only a sabotage by the Northern BDC operators against a South-eastern CBN governor.
It is the case of giving a dog a bad name so as to hang him.
Soon Mr. President will terminate the appointment of the governor. Then the coup would have succeeded.
Buhari can never be trusted if he continues his divisive governance.

This is the dumbest post ever on NL....Stop celebrating your ignorance publicly. If you don't have any sensible thing to say its more honourable you just take a walk.