omowolewa:
Still experimenting, we must win the naira-battle. It shouldn't be a political affair.
Its not enough to criticize, recommend as you do.
CBN needs to take proactive steps. The era of invisible hands is gone, insider dealings and speculators' activity has made the theory less effective.

jaybee3:


The official rate is still N197 to the dollar so why are you wailing?

What doom has the volatility in parallel market rates done to the economy in real terms?

jaybee3:


When exactly did he make the promise

Provide a direct quote of him making that statement and receive N100K from moi

Kayendy:
I don't hv anyone to blame.... pple should stop panic buying and d dollar will fall well... dis is not a govt fault but sha Buhari promised us 1naira equals to 1dollar... still patiently waiting

Pidggin:


http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/ (send my 100K through western union).

Pidggin:


http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/ (send my 100K through western union).

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’

Firefire:


Why are you people celebrating the fall of dollar in the parallel market ?

Must you guys celebrate every thing aimlessly including the irrelevants ?

jaybee3:


When exactly did he make the promise

Provide a direct quote of him making that statement and receive N100K from moi

najoke:


500k if any of the wailers can provide evidence of PMB making such statement

You are here : Home » News » I’ll make Naira equal in value to dollar, says Buhari
I’ll make Naira equal in value to dollar, says Buhari

on March 23, 2015 / in News 8:31 pm / Comments

Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office.

Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.buhari-Naira

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said.

He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.

Earlier, Gov Rochas Okorocha had urged APC supporters to vote for the party’s candidates at all levels, noting that a vote for Buhari without support to others at the state would amount to nothing.

Okorocha said Buhari would address the problem of electricity, bring back the kidnapped Chibok girls and promote industrial growth.

He said that Buhari was loved by the people in the region and urged them to elect him and other APC candidates during the March 28 and April 11 general elections.

Former governor of Anambra, Mr Chinwoke Mbadinuju and former Minister of Education, Chinwe Obaji, were formally welcomed to the APC at the rally.
- See more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.ia2qMzDj.dpuf

INTROVERT:
Barcanista must be a prophet.

I pray naira comes back to 160 170 sha coz my business is being affected.

INTROVERT:
Barcanista must be a prophet.

I pray tomorrow we will wake up and it's 170 again

ocelot2006:


I think Barcanista proffered a number of possible solutions including setting limit caps on transactions in dollars like China.

arsetalks:
Some saying Barcanista must be a prophet, prophet of what? Prophet of doom? If you know use your brains you will know the sudden decline and appreciation are all artificial. It is created the mallams for their own gain.

Curiously Barcanista and co have refused to debate why the naira fell from 154 at the beginning of the last quarter of 2014 to 200+ the retardeen left it.

soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET

AbdulHaram:


I sweeeear to Allah! Na when you no send me the money you go know my true name!

http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/

jaybee3:


I asked for a direct quote not a misinterpretation of his words by the PDP propaganda machinery during the election campaign

According to the link you provided, this was the quote attributed to him:

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ - See more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.2bNFXcXy.dpuf

The offer is still on !

jaybee3:





Leave Allah out of this

I asked for a direct quote!

MizMyColi:
[size=14pt]*faints*[/size]

jaybee3:


Who are the you people?

I can understand why some of the APC supporters will celebrate the so called irrelevant that PDP supporters like yourself have continuously used to propagate PMB has a failure in his less than 100 days in office

crystalzoe:

*sprinkles holy water on her*

INTROVERT:
Barcanista must be a prophet.

I pray tomorrow we will wake up and it's 170 again

Firefire:



If you people (APC brainless supporters) continue like this, I fear for the 1001 Buhari campaign promises.

Firefire:



If you people (APC brainless supporters) continue like this, I fear for the 1001 Buhari campaign promises.

RichDad1:
He's just a prophet of doom that will be shamed very soon.