Demmocrats:



That is a big lie, i used my atm card at bank of america atm and the rate FCMB gave me was the rate as Bureau's do.

heard about ish like this tho but am talkn about going to go get dollars in banks like buyn it on standn

mployer:


Don't discuss something you know nothing about.

who told you banks are selling at 199?

malam wen yu went to bank last wat was the benchmark price wasnt it 199 and yur street aboki econmic saboteurs sells it for 260


clap for ya self

UncleJudax:

Hahaha. You no even do home economies

I bet do notknow there are so many imported things that the importers sole source of Dollars is Bureau De Change.

Where have you been, Chihuahua Island?

I believe the name of that subject in Nigerian education is called "Home Economics." Since you did it, you should know, right?

Also, isn't it self-explanatory that if the parallel market is decommissioned, then the sole source becomes the official rate?

Life is not always about what it is, but what it can and should be.

InvertedHammer:

/
Here he goes again.

What's your opinion?

Be a man!
/

My opinion is that you should shut up when you have nothing meaningful to say.

porka:


Thousands of workers have already been sacked.

Many companies will layoff their workers these December ending.

It means many current workers will become jobless from January.

If the affected people are to write Buhari's history, it's doubtful if they will say 'he tried'.

/
That is the price they have to pay.

No pain, no gain.

The change needed cannot be done with a magic wand. There will be collateral damages. Ghana tried with killing off looters which yielded somewhat positive dividends in her economy while it lasted.

I don't like Buhari's slow pace of work. I don't like some of his policies. But at this point, half bread is better than none.

Nigerians were presented with only 2 choices--an incompetent, naive and corrupt fellow vs. A senile old man in a country of over 160million. Two equally bad choices. They made their choice. The rest is history.
/

www.nairaland.com/2795534/cbn-considers-ending-dollar-cash


I said bureau d change are economic saboteurs some pple calld me ignorant see the link above and read hw dis pple are cheatn deir own country men ode analysers......

Geniro:


My opinion is that you should shut up when you have nothing meaningful to say.

/
You are truly a mor.on. You continue to swallow every bait I throw your way. This is why you need to check your self-esteem. A complete stranger yet I am able to turn you into my b1tch.
/

henryutd:


I am feeling the impact here. Don't need to be told. Only tell me when it gets to #300

From
Wailers Club of Nigeria (WCN)

Confusion everywhere

With the rate naira is going down it is just a matter of time before it discovers oil.

NaLaugh:


Valid points.

However, a ban on certain imports to any country is a necessary step in maintaining that country's currency value.

Regardless of short term effects, the focus should be on long term sustainability.
I mean, why in the hell should Nigeria be importing tooth picks to begin with?

The items weren't banned from being imported...read again.

Long story short: a high exchange rate will affect EVERYONE. There's no getting around it.

InvertedHammer:

/
[s]You are truly a mor.on. You continue to swallow every bait I throw your way. This is why you need to check your self-esteem. A complete stranger yet I am able to turn you into my b1tch. [/s]
/

What bait is this imbec1le talking about ? Am giving you a simple advice to stop posting lest you appear sillier.

All i see is the cretin in you applauding his/herself over nothing .

Slowly but steadily our naira is doing a Zimbabwean dollar on us, we are steadily on the road. God help us with this souless leaders we have been cursed with in this country.

Dollar against dollar.

HzRF:

Debug Nigeria with the help of those who he claimed destroy it


U think u have seen the height of gullibility cum stupidity login to nairaland and sumone is waiting to prove you wrong

that is the trait of a zombie


if reverse was the case clowns like him will give credit to buhari body odour www.nairaland.com/attachments/3076414_buharilawyers_jpeg753a57898a4991d6fbbb20fb47250ed9

I dislike nairalanders because every problem is blamed at the people at the top expecially the president and his ministers when are we going to start blaming ourselves for not trying to help the economy from out end,yall should leave lagos and goan start farming we need foreign exchange to improve our currency the naira.we Nigerians are hypocritic that find criticism easy than finding solutions to problems,this is not buhari or jobathans country it is our country.

I dislike nairalanders because every problem is blamed at the people at the top expecially the president and his ministers when are we going to start blaming ourselves for not trying to help the economy from our end,yall should leave lagos and goan start farming,we need foreign exchange to improve our currency the naira.we Nigerians are hypocritic that find criticism easy than finding solutions to problems,this is not buhari or jobathans country it is our country.

Papertrail11:



like dose pple can go to d bank and get it at a cheaper rate abi......ode rather than allown mallms creatn artificial scarcity

Hahaha. You had to call me Ode?

BDCs are there for a reason. CBN cant do it all alone.

They just have to properly regulate the parallel market. That's all.

Don't make a mountain out of a molehole.

ramalot:


I believe the name of that subject in Nigerian education is called "Home Economics." Since you did it, you should know, right?

Also, isn't it self-explanatory that if the parallel market is decommissioned, then the sole source becomes the official rate?

Life is not always about what it is, but what it can and should be.

If getting rid of BDCs is the panacea to Naira depreciation, CBN wouldn't think twice.

See how they are being accommodated, whilst being regulated. From 35million naira recapitalization, to e-FASS, to BVN, to the about-to-be-introduced e-transfer and another 35million naira caution deposit..

It appears BDCs aren't so useless, afterall

CBN needs them, but obviously, a few things have to be fixed, to deter unscrupulous activities.

lol [quote author=PreyingMantis post=40919455][/quote]

lol leave oga jona outa ur predicament joor continue traveling

A government that blames everything on past administration. Tell us how you want to solve it that's why you were voted in and not to trade blame.

Is it Buharis fault that naira is 260 to a dollar and did he make the price of oil fall to 38 dollars from over 100 a year ago?Nigeria is suffering because we refused to diversify our economy after all these years.No miracle will occur and there is no quick fix to it.

Firefire:
I was charged 225N / USD today for international online transaction .


We are getting closer to Dangote's prediction of 500/$.


May God deliver Nigeria and Nigerians.

which bank pls?

@HzRF, Which Goverment Allowed 90% Of Imports? Was It Not APC That Banned Some Lists Of Products We Could Locally Produce Including A Partial Ban On Rice. Pdp Turned Nigeria Into A Dumping Ground. Change Is Here.
The Truth Has Spoken!

eaglechild:
And the dullard has absolutely no idea what to do.

What a sad situation.

Those who shouted change have lost their voices.

Oh No mbanu Their change is here Biko

MizMyColi:
Well,

Sai Baba
Sai Buhari


I hope the broom wavers and sai chanters feel a measure of relief at this news.

One wonders if it'll take eternity for the Buhari Led FG to start delivering dividends of good governance to the Nigerian people.

It's just six months out of 4 years, not even one year yet

Don't be in a hurry, Nigeria will be better

Franzinni:
I am beginning to think , it's like curruption is the pillar that was holding our economy... Because this crashes is mind bogging

Classic.... simply put 'Fighting corruption is Fighting Nigeria's Economy'...Jizzle 2015

Kenai:


http://www.thecable.ng/naira-trades-at-260-highest-in-42-years

With this disastrous news, get ready for tomorrow's story by Buhari and his goons on Goodluck Jonathan's $980bn loot, all in a desperate attempt to deflect attention from our current economic woes and keep their gullible supporters distracted on frivolities and nonsensical white lies.

If we didn't have a voting public so intellectually vapid, the focus would have been on asking our dear mallam to adequately elucidate on how he so miraculously "Cut down Nigeria's Inflation from 20 percent to 0 percent" as his campaign team so falsely bellowed.
Did he do it with a cutlass?
A few minutes of investigation and fact-checking would have made it clear to anyone that the story was nothing but a blatant lie.
When you claim to be an honest man, but your campaign promises are filled to the brim with unintelligent lies and slogans, it's time for some soul searching.

What's even worse is the fact that this man fought tooth and nail for the presidency for 12 years. 12 SOLID YEARS!
He finally gets there and is as visionless and lost as ever, promising to hit the ground running but taking 6 months to build a cabinet; with his mouth in hyperdrive and his brain in suspended animation.

Shame on this Twitter generation.
I will never be a slave to ignorance.


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You are an illitrate sorry for being rude but your lack of intelligent and logical thinking leads to one conculsion "wasted effort" all the time and money spent on you was like flushing it down a toilet.
Now let me educate u in layman's terms, a country's currency is only as good as the the goods and services it produces and offers to the world, if you have a hot product people ie "countries" will want to trade with you thereby making your currency attractive, when crude oil was $110 per barrel obviously it was a hot product and thus a higher Naria, now oil is no more a hot product the international market is flooded with oil hence nobody is interested in the Naria thus the low value, this is why Nigeria needs to diversify its economy. This government is 100% devoted to making Nigeria become the "china" of africa we have the population we have the space we even have the minerals to make 80% of all consumer consumables eg batteries, phones, solar panels,spare parts, bulbs,water pumbs,pc assesories hard disks etc etc, but to do this we need the infrastructure mainly electricity!!! iron and steel, look my friend PDP did not even build a functioning refinery we have to import petrol!!! we that are producing the oil, now you are crying Naria is losing value, stop embrassin yourself. Do you think that you can go to london walk into a restuarant and pay for your food in Naria, no my brother u cant you have to exchange your Naria 4 pounds in Nigeria, and the amount of pounds in Nigeria is govern by volume and value of trade with the UK and if the Uk is not buying your Crude oil how is there goin to b pently of pounds in Nigeria henceforth the price of dollars, pounds etc increases it is as simple as that chikena!!

ifyan:
I don't think it's up to this figure because it was sold at N250.00 to N253.00 today.

Check it from here http://www.nairausd.com/2015/12/exchange-rate-of-dollar-to-naira11th.html?m=1

Not everything you read on the Internet is true

Bros u not serious,u even hv d guts 2 say 250-253...how much was it traded last week?

Shame on ppl like u

u will always be blame all ur life

Raiders:
GEJ is responsibility for all our economic problem.

Mindfulness:
Nigeria's biggest problem is that the country's leaders are a reflection of the average intellectual capacity. Almost every comment on this thread is the result of ignorance. Nobody has taken their time to gather enough information, knowledge and understanding to provide a proper analysis of the current fiscal and monetary policies, which should form the basis of any such discussion.

There are several reasons why central banks, not governments, devalue currencies:

1. to encourage exports

2. to discourage imports

3. to improve the trade deficit (Nigeria's trade imbalance is positive with a higher export rate).

Additionally, external shocks (e.g. food and fuel price upsurge, global economic recession) also lead to currency fluctuations.

Welcome to NL.

And most importantly, govt policy of hoarding and restricting $$€€ hasn't stopped anything. It keeps going up and up!!