please how much is dollar when you want change money in bank cause when you go to bank to collect western union the amount they will change it for someone is different from the amount the dollars. so how much is dollars in bank rate?

englishmart:
naira is speedily going down. I guess it wants to discover oil in Adamawa

No. It will discover in Borno

Anytime the naira sinks, i start dancing azonto.....

But inflation... hmmmn

Anyway, its not galloping so azonto still...

GO GET A BRAIN

Shagari was in office from 1979 to 1983. They say his government looted the national treasury. Things were not so good but Nigeria did not go into an economic recession.Then Buhari came as military Head of State and was in office from 1983 to 1985. They say he did not loot. But during his time in office, Nigeria fell into a deep economic recession.Then came Babangida. They say he looted Nigeria from 1985 to 1993. Yet there was no economic recession.After Babangida came Shonekan and Abacha from 1993 to 1998. Abacha was also said to have looted the treasury. In fact, his loot stashed abroad is still recovered till today. Yet there was still no economic recession.From 1998 to 2015, we have had Abdulsalami, Obasanjo, Yar'Adua and Jonathan. All administrationswere accused of looting the treasury. Still there was no recession.Now Buhari is back and we are once again in a recession and you say "LOOTING" of the Jonathan years is the cause?Are you okay?

Go get a brain!

Those that asked Nigerians to speak out in the past are now acting deaf and dumb bunch of hypocrites. Cowards and demons in human skin.... They should be told to speak the truth always and not speak only when it favours them... Rubbish....

youngeagle:
I will make $1=1naira zombies begin the clap without checking the track record of the dullard.

You realize buhari never made that promise or statement?

There is a standing bet of N1million for anyone who can provide an audio or video recording of Buhari saying this. But you zombies keep repeating that nonsense.

Buhari how far? Time is ticking ooo

why not scrap the naira and let's continue with dollar?

holluphemydavid:
When dollar can be like dis, hw much is pounds going to be, nawa ooooo

490 and pounds is 30 year low against the dollar cos of brexit.so if the pounds pick up nah N600 be dat

By dec it will get to 500 naira at the rate this thing is going .. Why did we get it wrong , they say last administration did not save , they say we didn't diversify like it takes a day to do that .. Everything boils down to unnecessary delays in fiscal policies looking for technocrats at the time , forgetting that modern day economics wait for no one, insecurity here and there , strict fx regulations in the name of fighting corruption only to make things worst . No power supply .. So many technical and fundamental principles affectin the economy , how then do U want investors to come and invest when some are already leaving the nation .. It's high time pmb leaves .. This was one of the reason he was overthrown .. A man that is so obessesed with fighting corruption and have no knowledge of governance except corruption

blackmarket:
GO GET A BRAIN

Shagari was in office from 1979 to 1983. They say his government looted the national treasury. Things were not so good but Nigeria did not go into an economic recession.Then Buhari came as military Head of State and was in office from 1983 to 1985. They say he did not loot. But during his time in office, Nigeria fell into a deep economic recession.Then came Babangida. They say he looted Nigeria from 1985 to 1993. Yet there was no economic recession.After Babangida came Shonekan and Abacha from 1993 to 1998. Abacha was also said to have looted the treasury. In fact, his loot stashed abroad is still recovered till today. Yet there was still no economic recession.From 1998 to 2015, we have had Abdulsalami, Obasanjo, Yar'Adua and Jonathan. All administrationswere accused of looting the treasury. Still there was no recession.Now Buhari is back and we are once again in a recession and you say "LOOTING" of the Jonathan years is the cause?Are you okay?

Go get a brain!

am telling u my friend, nigeria has never witnessed such economic decline like this .. Everything is going hail while and u call this change certainly not ..

Boys they suffer for Ghana ooo if you get do for girl wa sure she go we to support you when u no get OK Buhari.......I believe you

If you'v got $ at 370 , cash, quote me let's do biz!

Naija don cast

OK, good news. I hope bubu can hear now

jideniceguy:
The thunder wey go fire Buhari still dey dey Dressin room dey wear Jersey

Foolish Man

Actually, if you remember, he was the one who resisted changing the official peg of 199. It was "learned" economists, bankers, students, taxi drivers, parents of students abroad, importers, etc. who were crying that he should allow the peg to float so that the disparity of official to parallel rates won't be so high. They also insisted that it would encourage the naira to gain.

Now that the naira has lost value after removing the peg, those armchair economists are absolving themselves of any blame.

Nawa ooooo

Buhari!...just round off the figures ehn??...




$1 - #400(Applause 4 the dullard 4rm daura)

nextstep:


Actually, if you remember, he was the one who resisted changing the official peg of 199. It was "learned" economists, bankers, students, taxi drivers, parents of students abroad, importers, etc. who were crying that he should allow the peg to float so that the disparity of official to parallel rates won't be so high. They also insisted that it would encourage the naira to gain.

Now that the naira has lost value after removing the peg, those armchair economists are absolving themselves of any blame.

All the same we still have a useless man as president, that's all all know. The economy now is nothing to write home about.

I'm not surprise; after all he had F9 in Economics in his fake result

Adesiji77:
MPC may just retain existing rates. CBN has done enough mopping of funds already...

MPR now 14% (+200bps)..

All these 419 analysts

The naira is officially a useless currency! I can't believe we have gone from official rate being 198 to 310 in just a few months. Unbelievable!

cezarman:
I Believe Buhari Is A Purnishment From God,To Purnish Us For Our Sins.

Werey rey ooooo

pepigeorge:
By the tym APC finish with Nigerian economy, only conductor CHANGE go remain

/
Floating!

Euro, yen, pound sterling, Canadian, Australian and New Zealand dollars are also being decimated by the US dollar.
Naira is not alone.

The only saving grace lies on the US Fed. If they shift their monetary policy, US dollar will nose-dive and only then will succour come to naira and other currencies.

Until then, enjoy the inflation.
\

At this rate omo na 400 e go soon enter.
Hw people wey wan go do masters abroad go take pay school fees ?

Truth234:


CBN didn't fail to lure local and foreign investors, uncertain global economic outlook after the U.K exit the European Union and unfavorable business environment in Nigeria forced both foreign and local investors to hold back.

So, it will be totally wrong to hike rates in order to attract investors when our consumer spending is weak and consumer price index (Inflation) is at 11 year high. If we need to create jobs to boast spending by stimulating the economy domestically. It will be wrong to raise rate today, because even if they do it won't be effective. And I think MPC are smarter than that.

Uhmm too late, the rate has been increased bro! Now 14% from 12%, yes it may be a deadly move but MPC guys had to take the gamble. I mean look at what we'v done toattract Foreign Investors yet they are still reluctant to enter the market.
- The stock market increased in its capitalization this year
- The naira was devalued allowed to float
Yet we don't see FPI's coming through
This may be just be the trick to push their buttons. With inflatinn standing @ 16%, most Investors will be reluctant to put thier money in any Instrument that will yield below 16%, hence the Rates had to be pushed up. Its a gamble we must take.

To make naira strong is a simple thing. Just soak it in thick starch for 1hr, dry and then iron it like we do to Kampala. Just a common sense approach.

the minister for finance is seriously missing in action, the cbn governor is even more reactive than her but I'm not surprised by our current economic predicament, it's exactly what happened in buhari's first regime.

Chukzyfcb:

Uhmm too late, the rate has been increased bro! Now 14% from 12%, yes it may be a deadly move but MPC guys had to take the gamble. I mean look at what we'v done toattract Foreign Investors yet they are still reluctant to enter the market.
- The stock market increased in its capitalization this year
- The naira was devalued allowed to float
Yet we don't see FPI's coming through
This may be just be the trick to push their buttons. With inflatinn standing @ 16%, most Investors will be reluctant to put thier money in any Instrument that will yield below 16%, hence the Rates had to be pushed up. Its a gamble we must take.

How does this make sense to you? You are giving investors money without considering real economic growth, what about 25 year high unemployment rate? So is better not to create jobs and give money to oyinbo wey no send you.

Even US that is the most appreciated economy this year, held rate unchanged immediately Britain exit the EU. Global risks and current uncertainty will continue to weigh on growth, especially emerging economies. Why is Japan, third largest economy, UK, New Zealand etc cutting rates to aid growth and Nigeria increasing rates.

The same way they refuse to float naira until last minute.

Truth234:


How does this make sense to you? You are giving investors money without considering real economic growth, what about 25 year high unemployment rate? So is better not to create jobs and give money to oyinbo wey no send you.

Even US that is the most appreciated economy this year, held rate unchanged immediately Britain exit the EU. Global risks and current uncertainty will continue to weigh on growth, especially emerging economies. Why is Japan, third largest economy, UK, New Zealand etc cutting rates to aid growth and Nigeria increasing rates.

The same way they refuse to float naira until last minute.

Can't you see the big picture bro? That lack of bulk forex in our account is why we are suffering this much? Manufacturers are pulling out because of lack of forex to purchase raw materials, same goes for the aviation sector & so on & so forth. Why do you think inflation is steady rising? If we can attract forex, enough forex to counter the demand. Naira will strengthen, inflation rate will fall & then we can then re-adjust the MPR rate overtime as inflation slows. That's the possibilty of the move.
You can criticise the move but I'll advice you be constructive about it. Diversification is not a 1 year or a 4year thing, Okonjo iweala has pointed out how it took 30yrs for dubai to be fully diversified. We need the loans now both for capex & to satisfy our growing appetite for forex. If you can procure a better solution, pls I'm all ears