RichYoungNigga:
Analysis from uneducated people.
So, because naira gained 60 naira, you have the courage to dance around ??

The oil sale is only source of Nigeria income, what happens when the top dogs like Saudi Arabia and Iran floods the market with excessive oil ?? and they also sells way cheaper.

This your jubilation will turn to sorrow soon.
Let's watch and see.
Next month, $1 will exchange for 500 naira.

Prophet of doom.

odiks:
“We expect that the naira would appreciate further. We have always said that what happened last week was purely a speculative attack". - Ecobank Analyst

Pure bullshyte.

It was simply demand and supply economics.
The drop was to steep, too fast, hence the anticipated near term correction or dead cat bounce, as it is called.


Based on visible economic fundamentals, and a government that has NO clear economic policy or vision going forward, the Naira should continue it's free fall down to 500 in the next two months and 600 by year end.

Do not forget that this government is going into debt, foreign denominated debt, to fund a bloated budget that is guaranteed to do nothing to stimulate the economy.

Currencies are usually defended with foriegn reserves or gold, not by mouth.

There are no Hail Marys in economics.

HungerBAD:
Sai Buhari.

Where are those that called Buhari a Dullard?

Where are those that insulted the Minister of Finance?

Where are the Doom Prophets?

When we said this artificial scarcity of Dollars, was orchestrated by the last standing soldiers of the Clueless one, we were called names. It's alright, Nigeria is getting there now.

Buhari 5- Boko Haram 0

Buhari 5- Corruption 0

Buhari 5- Artificial scarcity 0

Buhari 5- MTN 0

Buhari 5- The Economy IMPROVING.


Changeeeeee.

. What are all these, Was that the actual dollar equivalent b4? Its people like you that truncates a good progression instead of waiting for it to totally manifest, cos the process is on.

piagetskinner:

You are part of the people sabotaging the economy... If the naira gains against the dollar, is it not to the good of everyone #or you're happy that the price of goods and services have skyrocketed in the past week. Dude Nigeria will be great again

No.
Only good for people who lives in Nigeria

Good development.

We knew that some goats were attacking the market. 310 is still a far cry from where we want it to be, however, we are looking at a stronger economy (export-based) when this storm blows over.

This is the best time for exporters to make good money.

Koleman:
am glad u understood wat I meant by rope

Can you just go play with your mates ??

azzima:
Biafrans are about to have heart attacks from this news. When you have a group of people that is FIERCELY ANTI-NIGERIA, then we have our enemy number #1, their aim is for Nigeria to fall so they can have a laugh.........people must beware of these folks and their noise, there is an ulterior motive and not because they love our country Nigeria.

I think these set if persons are worse than boko haram

Expected!

RichYoungNigga:


Can you just go play with your mates ??

will do just that but pls consider my advice! its an easy way out

Thank God for Uba.

Savigne:

The first thing I said when I read this was "Praise God"...
Thats how I went to buy plantain yesterday and the seller gave me some miserable looking plantain for 200h,when I asked why,she looked at me like I was daft and replied "Dollar don dear"...Na so I jejely carry myself and said plantain face house oo.

u look like omotola facially

Koleman:
will do just that but pls consider my advice! its an easy way out

Oh, lord.

[s]

RichYoungNigga:
Analysis from uneducated people.
So, because naira gained 60 naira, you have the courage to dance around ??

The oil sale is only source of Nigeria income, what happens when the top dogs like Saudi Arabia and Iran floods the market with excessive oil ?? and they also sells way cheaper.

This your jubilation will turn to sorrow soon.
Let's watch and see.
Next month, $1 will exchange for 500 naira.

[/s]


American slave, becos ur parents probably birthed u in America means you should predict doom for their fatherland right People like you will always be slaves to the white man

RichYoungNigga:


Kid.
You were there when they agreed to cut oil supplies ??
How foolish are you ??

Iran just came back from sanction and they are in serious need of money, they want to be calling the shots in oil sales.

Go gets some education

exactly how much does iran tend to make by selling below $30?Iran's oli minister stated uncategorically,that his country will support ANY MOVE taken by both opec and non-opec players in a bid to increase/stabilize oil price.http://www.cnbc.com/2016/02/16/russia-saudi-arabia-output-freeze-helps-oil-price-higher-in-asia.html..
And yes they'av agreed in principle.,OPEC's next general meeting is holding in MARCH with russia in attendance.the meeting will be centered around slashing supply or if possible,,re-introducing quota system among opec members with support from non-member states..

RichYoungNigga:

Sorry. God don't control the fall or rise of currencies.

Says who? Ur pessimistic mind?

odiks:
• BDCs to introduce forex band, reforms for parallel market

Foreign currency speculators, who launched an unprecedented attack against the naira in the last two weeks, got their fingers burnt on Tuesday when the nation’s currency staged a major recovery, rising to N310 to a dollar at the close of business, compared to N375 at which it sold on Monday.

The naira fell to an all-time low of about N400 to a dollar on the parallel market last week fuelling concerns that it would plummet further to N450-N500/$ this week.

But findings from THISDAY showed that the naira defied expectations, climbing to as high as N305 to the dollar at some parallel market points in Lagos on Tuesday afternoon, before settling at N310.

Forex dealers and currency analysts attributed the significant gain on the parallel market to excess supply of the greenback in the market, even as it looked like a lot of speculators lost the shirts on their back.

THISDAY gathered from a reliable source that speculators who thought that by attacking the currency last week, coupled with misplaced concerns that the Central Bank of Nigeria (CBN) was going to stop the allocation of forex for school fees and medical bills abroad, this would compel the central bank and President Muhammadu Buhari to alter their stance against the devaluation of the currency.

But they were disappointed when Buhari, in Egypt at the weekend, adamantly ruled out the devaluation of the naira on the grounds that Nigeria does not have the competitive advantage to benefit from an official currency adjustment.

Reacting to the president’s stance, speculators who had been betting that the naira would depreciate further, started dumping the dollars with reckless abandon, effectively creating excess supply of the greenback in the parallel market.

Commenting on the situation in the secondary forex market, the chairman, Association of Bureau de Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, said: “The market is moving from perception to reality.”

Similarly, an analyst at Ecobank Nigeria, Mr. Kunle Ezun, predicted that the naira would edge higher in the coming days.

“We expect that the naira would appreciate further. We have always said that what happened last week was purely a speculative attack.

Some people felt that if they pushed the naira down to that level, they could force the CBN to devalue, so that when the naira is devalued and the gap widens further, they would now bring out the dollar cash to make a kill,” Ezun said.

He however urged the fiscal authorities to introduce policies that would help stimulate economic activities, saying that the fundamentals of the economy were still weak.

ABCON also aligned with the federal government’s decision not to further devalue the naira.
Gwadabe said this at a media briefing, pointing out that devaluing the naira would create more problems than it would solve.

He said that as a way of enhancing transparency in the BDC sub-sector, his association had decided to introduce a forex rate band weekly.

This rate band is expected to serve as a guide for all BDCs and the public on the prevailing exchange rate across the country, he added.
In addition, it will be operated in line with the regulated forex rate in the economy.

“This is to forestall exploitation of forex end users, and also to ensure that end users are informed to avoid falling victims of exploitation.

“The band will be announced via weekly press releases that will be circulated to the media for publication.

“ABCON will introduce a series of measures aimed at transforming the operations of BDCs in Nigeria to align with global best practices. These include: review and updating of BDC operational manual; introduction of live trading platforms; automation of all transactions and documentation requirements; and increased partnership with the CBN and other relevant agencies.

“Further, as part of its responsibility as a self regulatoryorganisation (SRO), and also in continuation of its aim to transform its members to compete within the global regulatory currency market, ABCON will seek the approval of relevant monetary and fiscal authorities as well as partnership for effective use of the nation's external reserves to enhance domestic trade and foreign exchange management.

“To this end, our website and internet platforms will be developed to position BDCs to serve as agents of Western Union and currency auctioneers.

“We would also develop platforms that will allow our members to access sources of autonomous foreign exchange like govt agencies, embassies, IOCs and export proceeds, etc,” he explained.
He also urged the federal government to introduce policies that would diversify the economy to increase non-oil export earnings, and reduce imports.

This, according to him, would lead to increased foreign exchange inflow and a reduction in demand for foreign exchange.

In addition to policies that would diversify the economy, ABCON suggested that the CBN should review the policy of dollar importation into the economy for the purpose of defending the naira.

According to the association, the central bank should introduce a policy whereby the naira is used to intervene in the real sectors of the economy to boost productivity.

Furthermore, Gwadabe said as a way of reducing demand for dollars, the CBN should explore the option of promoting the use and acceptability of naira for transactions within the West African sub-region.

He added: “We observe that this is already happening at the level of informal trading activities within the sub-region, and it is our belief that this can be replicated at the level of formal economic activities.”

http://www.thisdaylive.com/articles/speculators-get-their-fingers-burnt-naira-strengthens-to-n310-/232783/

Pra pra praise da lord I see dollar selling around 200 naira in a week time

wastedsperm:
[s][/s]


American slave, becos ur parents probably birthed u in America means you should predict doom for their fatherland right People like you will always be slaves to the white man

Sorry.
This is 2016.
White men are getting their ass whopped at the moment

olu77:
Narrow escape for me as I was about to begin this buy and sell business. I was about to buy dollar in U.S for 330 to sell in Nigeria for 400+

trading rule 101, jumpout when everyone is jumping in

RichYoungNigga:
Analysis from uneducated people.
So, because naira gained 60 naira, you have the courage to dance around ??

The oil sale is only source of Nigeria income, what happens when the top dogs like Saudi Arabia and Iran floods the market with excessive oil ?? and they also sells way cheaper.

This your jubilation will turn to sorrow soon.
Let's watch and see.
Next month, $1 will exchange for 500 naira.

Kori fun e gege bi aim si Nigeria

uzokasi1964:
Buhari is one lucky human being,looks like his economic stubborness is paying off!!!

Seriously!

I for one do not support Naira devaluation. We know what happened when it was done in the early 90s by IBB.

Of course l don't expect the thieves of our land to fold their hands and not fight but l know to the man l stood my g round to vote for inspire of the killings in Rivers state will fight back. Proudly Nigerian

Once again Buhari decision not devalued the naira has proven Fayose and his supporters to be dullards in economic matters.

olu77:
Narrow escape for me as I was about to begin this buy and sell business. I was about to buy dollar in U.S for 330 to sell in Nigeria for 400+

You re not alone on this if not the candid advice from my snr bro, i would have also had my finger bunt too

Prof Pat Utomi will be looking like a f00l now, charge and bail professor.

oh thank God it is as I anticipated...I almost withdrew #1.5m at the rate of €1-#411..luckily I was informed by my bdc family early ..thats y I like this gwadabe of a man ..he is always trying to improve the bdc sector and also the value of our currency..

olu77:
Narrow escape for me as I was about to begin this buy and sell business. I was about to buy dollar in U.S for 330 to sell in Nigeria for 400+

You are part of those responsible for this economic sabotage!

No matter how bad things are in Nigeria, I am sure of one thing. And that is Buhari has good intentions to turn things around in Nigeria.
The irony is that majority of the youths especially from one section of the country wants him to fail. But also these are youths without a job clapping for people that stole billions for themselves and families. Time for us to think.

RichYoungNigga:
Analysis from uneducated people.
So, because naira gained 60 naira, you have the courage to dance around ??

The oil sale is only source of Nigeria income, what happens when the top dogs like Saudi Arabia and Iran floods the market with excessive oil ?? and they also sells way cheaper.

This your jubilation will turn to sorrow soon.
Let's watch and see.
Next month, $1 will exchange for 500 naira.

Enemy of progress. With your very eyes, naira will appreciate so much and Nigeria's economy will be diversified hence boom will happen that will make you and your wailing cohorts cry bitterly.

some governors re just making noise on issue dey re not suppose to intervene cos of deir low intelectual capacity, all in d name been an opposition
pls mind ur thugery class n ur stomach infrst n
i pray dat u receive ur lost brain