Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,595 members, 7,958,829 topics. Date: Thursday, 26 September 2024 at 04:23 AM |
Nairaland Forum / Nairaland / General / Business / Unbelievable!!! Naira Falls To N485/$1, N600/£1 (29390 Views)
Naira Falls Towards N400-$1 As Electioneering Resumes / Again Naira Falls, Sells At N465 Per Dollar / Naira Falls As Dollar Scarcity Worsens (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by vislabraye(m): 7:55pm On Dec 06, 2016 |
LoveMachine: Pls don't shift the blame. The bulk rest on the president table. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by martyns303(m): 8:01pm On Dec 06, 2016 |
LoveMachine: Am trying so hard to comprehend why u would write a long epistle in attempt to prove a void point. Let's assume the company u work for is trying to replace the head of ur department, and asked staffs to nominate a condidate. In his remark, the new HOD vowed to be unfair to those of you who didn't support him, getting the picture? The level of poverty in the country right now is unprecedented. Am very comfortable where I am, but unlike you am also concerned about my country men..... |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by musicwriter(m): 8:02pm On Dec 06, 2016 |
Brace up people!. Things would even get out of hand once it hits N500/$. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by kingsamosy(m): 8:03pm On Dec 06, 2016 |
I wonder what the state of the economy will be by 2019, 2years plus for buhari to perfect his buharinomics. it is finished. Zombies my prayer for every one of you, may God or what ever you believe in run your finances as your buhari is running this country's economy. Amen |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by Nobody: 8:09pm On Dec 06, 2016 |
LoveMachine: Lol. ur not on my level.. shift |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 8:11pm On Dec 06, 2016 |
martyns303: This is like talking to a bowl of soup. Where did I say I don't care about my people? Where did PMB say he wouldn't be fair? No where and no where again. I'm saying that he has repeatedly said he was president of all. His actions have even shown that to be true. PMB is doing things for the south that OBJ and GEJ haven't and yet I'm supposed to care about what he says? If a wife says she loves her husband only but cheats and gives him an STD should he smile? Conversely, if a woman talks tough but is faithful should a man frown? I'm not fond of either treatment but it's obvious which is the lesser of two evils. I'm far from comfortable which is why I have constantly been critical of this government but I have to the ability to discern and I appropriate blame where it is due. The comatose state of the Naira is in large part due to the NDA bombings. You've jumped from pillar to post deflecting all in your bid to say PMB is to blame. You. Are. Wrong. PLEASE. STOP. 1 Like |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by Izonpikin: 8:13pm On Dec 06, 2016 |
LoveMachine:buhari has not dialogued well.. He is a joker.. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 8:13pm On Dec 06, 2016 |
vislabraye: You don't even believe that. You and I both know that when the oil isn't flowing the Naira is worth less. This could have been avoided but the NDA wanted to cripple the economy. I don't know which economy the rest of you rely upon but mine is Nigeria's. So this is the aggregate result of many things but mainly due to the yearlong bombings of NDA. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 8:15pm On Dec 06, 2016 |
supersystemsng: Ah yes the always potent move of telling someone who has clearly trounced you verbally that they are not on your level. All the while, using horrible spelling and syntax. Well played. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 8:16pm On Dec 06, 2016 |
Izonpikin: Personally, I somewhat agree. How would you suggest he improve? |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by lielbree: 8:30pm On Dec 06, 2016 |
LoveMachine:*Had it been Buhari did not become President*: *1. We will think that by now fuel will be #45 per litre*. *2. We will think that by now #1 will be equal to $1*. *3. We will think that by now three million jobs would have been created*. *4. We will think that by now unemployed youths would have been receiving #5,000.00 stipends*. *5. We will think that by now pupils would have been getting at least a meal(including fruits) in school*. *6. We will think that by now Buhari would have made his assets and liabilities public*. *7. We will think that by now maternal and children healthcare services would be free*. *8. We will think that by now Boko Haram will be a thing of the past*. *9. We will think that by now all corrupt leaders will be in jail*. *10. We will think that by now Electricity will be 24/7* *11. We think that by now Nigeria will be the Greatest and strongest Economy in the world*. *12. We will think by now a bag of rice will be N5000 with a boom in Agriculture*. *13. We will think by now Nigeria would have recovered all looted funds*. Please reset to factory default dear zombie. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by martyns303(m): 8:32pm On Dec 06, 2016 |
Y LoveMachine: So his 5% statement is being fair, or you want to hear the exact word "fair". Am not here advocating for GEJ or OBJ. You have consistently tried to put the blame on past administrations, and this tells a lot about your person and makes me doubt your level of productivity in the company you work for, if you are the type that never takes responsibility for anything.... |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by pappilo(m): 8:37pm On Dec 06, 2016 |
ephi123: In May 2013, I changed sold my £s at N247 to £1 and used to buy treasury bills. As the naira kept on losing value rapidly, I liquidated the treasury bills and in December 2015 I changed all my naira back to £s at N360 to £1. Cant believe it has lost almost 100% in value in just 12 months when we no be Ghana. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by nwabobo: 8:38pm On Dec 06, 2016 |
LoveMachine: Can u tell us how much FDI we've had in the period under review? The state we are in now is largely due to poor economic policies which has scared and continues to scare portfolio investors away from our economy. Buhari is the problem and not low oil price. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by Ahmeduana(m): 8:46pm On Dec 06, 2016 |
onatisi:THEM SAY NA HUNGRY DEY TEACH MAD PERSON SENSE. 1 Like |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by ephi123(f): 8:46pm On Dec 06, 2016 |
pappilo: It's interesting you mention that. Someone I know was doing a similar analysis on the £ exchange rate and TBills interest rates which was about 14% then, breakeven was like N300 or so I think, by now the guy is probably making a loss no matter how high the TBills rate is. Worse is you can't even get your money out easily. As long as these unfriendly policies continue, there is no way anyone will invest in Nigeria. No one wants to sink in their funds and not be able to pull it out when needed (without making a huge loss). |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 8:52pm On Dec 06, 2016 |
nwabobo: The economy was tanking before this administration came onboard. OBJ warned of it months before the election. The FDI stopped when Buhari made it clear he wasn't a Western stooge. Once again the FDI and other factors where being managed and were soon to be rectified but the bombings threw everything into chaos. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 8:55pm On Dec 06, 2016 |
lielbree: You and this zombie business are just sad. You wrote all that for nothing. You're being most irrational. That post is all hyperbole and has no place in a factual and rational discussion. Try again. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by AroOkigbo(m): 9:02pm On Dec 06, 2016 |
LoveMachine:What was the outcome of Obasanjo and YarAdua attempts to "bust heads"?? Tell me what finally settled it. Again, why is bubu not towing that same path of peace instead of his arrogance and 97% vs 5% dichotomy? ? |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by Duraluminium: 9:03pm On Dec 06, 2016 |
devilson: You are even more foolish, stupid and idiotic. What else do you expect when you celebrate pipiline bombings, defend thieves like pej who stole millions of dollars and pray that oil price stays down? Illiterate. I'm quitting nairaland sef. I never knew it had ignorant kids as members. Rubbish |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 9:07pm On Dec 06, 2016 |
martyns303: I'm not placing blame. I'm detailing how we have arrived at this circumstance. Other people first introduced GEJ to the discussion. All I said was this present development was a direct result of NDA's bombings. If anyone can in any way confirm that less oil sales can contribute positively to the Naira PLEASE STEP FORWARD. Your doubts of my productivity are unneeded. But thanks for your concern. Before you come at my competence learn to properly utilize a simple ellipsis... |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by faithfavour: 9:07pm On Dec 06, 2016 |
Until we have a sound economic team,the economy will continue to worsen. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by nwabobo: 9:07pm On Dec 06, 2016 |
LoveMachine: Bro, at the height of MEND activities, Portfolio investors were still coming to Nigeria with their forex cos they had faith in the economy and its managers. Buhari via his archaic policies have damaged our economy and the damage he has inflicted on the economy I'm sorry will take up to 2 decades to rectify. There is nothing as bad as having an economic illiterate at the helm of affairs of a country like Nigeria. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 9:19pm On Dec 06, 2016 |
AroOkigbo: You insinuated he was responsible for pipeline protection. There are only 2 ways to protect assets. Either by force or dialogue/peace. I'm not for the approach of cracking skulls. I'd prefer if no more black blood was spilled. We are all we got but we have to show each other more love. He just dialogued a few weeks ago and that very day hostilities were resumed. What is he to do? The people who are upset are the elite because they can't feed fat like before so they are fouling the water. Anytime a ND person of status has any kind of light shined on their corruption pipelines start going boom! Can't be a coincidence. The 97% to 5% comment has been used to no end. We all know he hasn't marginalized any region and yet people want to cry about an utterance that has been debunked through his actions. Every chance that he has had to leave out the south he has gone out of his way to include us. This administration has been far from perfect but where they haven't failed I won't say they have. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 9:26pm On Dec 06, 2016 |
nwabobo: You're trying to compare 2 different time periods in the world. The world economy at present is contracting in every zone. It's not just us suffering. China and Japan are getting it bad. Name some nations in Africa that are going as strong. USA's unemployment stats are terrible! FDI wouldn't have saved the Naira. Oil accounts for over 80% of our forex. The NDA are no fools. They called it operation Red Economy for a reason. You have your views. I have mine and that's fine. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by ezechinwa2: 10:08pm On Dec 06, 2016 |
CXLVII: but during his pre-elections he promised to make 1# equivalent to 1$. Didn't he preform feasibility analyses?? Is now you know 60% are the cause! I dont blame you, everything is perfect in your eyes, the same leader that was suppose to stay in his country and fix it was busy travelling from one country to another. Donard trump has won the USA elections how many times has he travelled outside the states?
|
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by decasey(m): 10:37pm On Dec 06, 2016 |
EternalTruths:don't mind dat good 4 nothing bean. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by vislabraye(m): 11:23pm On Dec 06, 2016 |
LoveMachine: So what is Bubu doing to stop the bombings ? |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by LoveMachine(m): 12:44am On Dec 07, 2016 |
vislabraye: Last I checked all options and routes of dialogue and force are being studied and implemented. I'm not in the cabinet so your guess is as good as mine. All I can go off of is news and empirical evidence. Dr. Ibekachikwu said militancy will be resolved soon so we shall see. |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by soji1992: 1:29am On Dec 07, 2016 |
Dc4life:bro...!!!!!! how? pls show me d way!!!!! |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by Decallmemartin(m): 7:09am On Dec 07, 2016 |
To be honest.. Being a leader is not a do or die affair. If PMB is lost of ideas, pls pls we beg jst step down. Nigerians re suffering 1 Like |
Re: Unbelievable!!! Naira Falls To N485/$1, N600/£1 by kayceeD2(m): 7:31am On Dec 07, 2016 |
What is it that u don't wanna believe Are u not in Nigeria when a bag of rice is sold @#20k from #7k |
(1) (2) (3) (4) (5) (6) (7) (8) (Reply)
Man Makes Strong Case For Pure Water Hawkers / J-Force: Jumia In Trouble Over Fraud In Affiliate Scheme / Real Reason GSK Left Nigeria After 51 Years
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 86 |