The Naira on Monday weakened further against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.

The currency exchanged at N357 for a dollar as against N350 it traded on Friday.
However, the naira maintained stability with the Pounds Sterling and Euro, trading at N505 and N397 to each of them, respectively.

Meanwhile, pending the release of modalities for the operation of the proposed flexible exchange rate, the official rate remained at N197 to a dollar.
Traders at the market decried the delay in the release of modalities as proposed by the Central Bank of Nigeria (CBN).

They expressed optimism that a flexible exchange rate would rejuvenate the market.

Adesiji77:
Uncertainty is really impacting on the market. The earlier Emefiele releases the operating modalities of the proposed flexible exchange rate regime, the better.

Cc: lalasticlala, dominique, Mynd44

Flets: Re: Highlights Of 2015 APC Campaign Promises In Pictures by Flets: 10:40am On Mar 24, 2015

How do we avoid the impending dangers to Nigeria’s economy and existence under a Buhari presidency? We must need to face reality as there is no magic in governance. Extremely hard times lies ahead for this country if Buhari ever emerges victorious.

How do you explain to a Niger Deltan that despite GEJ's achievements in almost all sectors, roads, bridges, railways, agriculture, automobile, alamajiri schools, new universities, fertilizer and ghost worker scam elimination, freedom of press, FOI, free and fair elections, power sector. .........etc, he is still booted out.

What will stop the creeks from going haywire again? Buhari will send the troops to the creeks and together they will set the oil facilities ablaze.
OBJ's use of JTF force could not help as no Oil producing company will risk producing crude and killing staff in a volatile region. GEJ under Yaradua had to get down to the creeks to to talk to these boys and effect the amnesty program because they found him as a representation in government.

It will be impossible to convince a ND minority albeit a militant that their own was not persecuted out of office. And that will be the theme of their new struggle. The long term solution to this mess is implementing the Confab report and enthroning true federalism.

A lot of opportunities are springing up around Africa and the IOCs are already geared towards investing in these newer and saner climes than invest in an unstable Niger delta . And while these troubles persists, the oil producing companies will simply withdraw their personnel from the volatile region and all foreign investments will seize in all sectors.

Unfortunately, even if the Nigerian troops kill 90% of the militants, it will take just one militant, a dynamite and just one strategic location along the multi- kilometer trunk lines to continue to wreck havoc to the Nigerian economy.

Fast forward to 2019, if we remain one country and without a civil war,, we will be an economic wreck with no allocations and salaries, no capital projects, no hope with dollar exchanging for 400 naira and we are worse off than we were in 2015.

Cos the truth is that without crude proceeds for now, Nigeria is finished.

And then, we'll be screaming another 'Change' because we would have learnt a bitter lesson in the hands of the Fulanis, Tinubu and Saraki.And then we will ask.... Why were we this silly?

And before you quote me, make sure you outline in clear terms how you or Buhari will avert this obvious calamity staring us in the face
Only last week, they creek boys seem to have resumed activities by kidnapping at Yoho facility operated by Exxonmobil and have shut in 80KBD already. Are we ready for this for the next 4 years?

The entire world stands to benefit from a crisis in the Niger delta. Its not a coincidence that USA who abandoned us at the height of bokoharam is busy shouting for change in govt . Crises in the ND will reduce supply of crude to the Oil market and that would drive up the price of crude for producing countries.... But at Nigeria's expense.

Is Buhari is any way a better Democratic president than GEJ? Is this risk worth it?

Nigerians.... Be Warned!!!

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onatisi:

Stop blaming the cbn governor. There is nothing he can do without the presidential approval most especially on a crucial matter like this and unfortunately the president is sick and and has travelled out of the country(as usual anyway) and noone knows when he will be back.
This is the change Nigerians wanted and they will get it in full dose