AheadMarket:
See them! You lack basic Economics knowledge.

Yuan-Naira?

What is Nigeria bringing to the table in the deal; corruption, absent of basic amenities?
China will soon realize that the deal is worthless, or rather the China economy will naturally discard Nigerian economy.
Simple Economics!

AheadMarket:
See them! You lack basic Economics knowledge.

Yuan-Naira?

What is Nigeria bringing to the table in the deal; corruption, absent of basic amenities?
China will soon realize that the deal is worthless, or rather the China economy will naturally discard Nigerian economy.
Simple Economics!

okanla:
continue asking Thomas

ZuzuMan:
...........Go to the BDCs the proof dey inside dem office!

najib632:
No worry naso change go discard you

ChoCandyDiamond:
This wont work, it will surely backfire because Yuan is not a stable currency like dollar, some people will get their fingers burnt at the end of the day, even China have the biggest dollar reserve in world with US

amtaken:
Where's the proof?

Larryproff:
go ask Google na. Mtwche

modath:


Bros, but the yuan to naira regime hasn't even commenced yet, so effects shouldn't be felt yet...

Are you with me? Is trade not supposed to be in full force before big drops begin to happen?

Which if one can take a wild guess points to specularion manipulation, & Sabotage..

The crash from 390 to its 320 band convinced me that even in the throes of forex scarcity, sharp practices abound..

Naija for show!!!

SamuelAnyawu:
Might be true tho..
If demand for dollar decreases surely naira will appreciate...
Simple Econs101

Avalon316:
989900


Hi,

I've had some dollars. Do you think I should sell it now that dollar is crashing? Got dollar for schooling in Canada but was denied visa. So I had to transfer it to my domiciliary account.

engrflames:
Buhari is no longer a dullard, he's now a smart guy.

laurel03:
"You know more than 50 percent of foreign businesses in Nigeria is with China and before now, Nigerians doing business in China have to change their money to dollar, then from dollar to Yuan"
"Instead of the headache of dealing with 3 currencies, the dollar element is now removed and we have a normal 2"
#PMB Nagode 4 ds 1..... chilled fura 4 u as u no dey drink ogogoro like our ex oga..

SamuelAnyawu:
Might be true tho..
If demand for dollar decreases surely naira will appreciate...
Simple Econs101

ChoCandyDiamond:
This wont work, it will surely backfire because Yuan is not a stable currency like dollar, some people will get their fingers burnt at the end of the day, even China have the biggest dollar reserve in world with US

gentyolu:
oga u av 2 mouth....i will cut one myself.....

masterblogger:
This is a very good move. Though am not from any political party, I support Buhari and Ifeanyi Uba on this.

From what I heard from reliable source, it was IFEANYI UBA (CAPITAL OIL) that single handedly initiated and made sure the idea was implemented by Buhari. He said he was ready to risk his investment if the idea did not work.

I think he should appoint Ifeanyi Uba as one of his special adviser especially on economic issues thats if he will accept it. He did brilliantly with the advise.

Let's all give kudos to him.

Click like if u agree and share if you disagree

989900:


Well, Brent's been staying above $40 for a while now, our refineries and pipelines are coming back on stream (no matter how small they input . . . it's something) we are moving toward trading directly in Yen, the Black market would most like move from N320 towards the official rate of N199; how close, I don't know. However, if the CBN and the FG makes any positive move towards a stronger Naira, even if it's N1-N2 gain, and people 'panic-sell', we might see a somewhat similar repeat of what happened last year when the Black market came crashing hard.

People are hoarding the dollar, and if it should slide for 3-5 days on the bounce, people will 'panic-sell'.

My 'thoughts' are, the dollar is not likely to sell higher than N320-N330 to a dollar for now, so it's up to you to either cash in now at N310-N320, or risk it!

If I were you, I'd cash in now to be on the safer side, especially if you got it for a bit less than how much you're selling it now, or if the loss is minimal -- I won't want to be caught in having to sell during a 'dollar slide' -- you might be caught in the N220-N280 to dollar range, or less.

Hey, but what do I know, we can only speculate. 'cause OTOH, the budget if signed, might increase the demand for dollar, albeit temporarily (the budget once signed, on the long run, will bring direction to the economic environment, bringing in foreign currencies into the system).

P.S. sorry I've not helped much, #humanlimitation, but think safety first, especially if you have no need to use the dollar any time soon. The BM rate will crash eventually.

masterblogger:
This is a very good move. Though am not from any political party, I support Buhari and Ifeanyi Uba on this.

From what I heard from reliable source, it was IFEANYI UBA (CAPITAL OIL) that single handedly initiated and made sure the idea was implemented by Buhari. He said he was ready to risk his investment if the idea did not work.

I think he should appoint Ifeanyi Uba as one of his special adviser especially on economic issues thats if he will accept it. He did brilliantly with the advise.

Let's all give kudos to him.

Click like if u agree and share if you disagree

Ijaya123:



I had to go read the story again in case I missed where Uba was mentioned. Now I understand where you're coming from. One of those sentimental tribal lots suffering from inferiority complex who always at any slightest opportunity engages in needless boasting and empty chest-beating and when that is not possible, they play the victim card.

StainlessH:


Right on bro! When people talk about we import from China as bad, stating that we need to also export they mostly forget the fact that we don't import only consumables but as Fabricators and related businesses we import machines for production and can move on to export the end product.