nonsense

That's a nice concept. These black marketers are involved in many illicit deals for their personal gain but at the detriment of the Naira. Imagine giving out N490k in exchange for $1k, haba.

Emefiele is either an idiot or just clueless. Of course, the black market reflects the true value of the currency. The true value of anything is how much willing participants in a transaction are willing to pay for it.

The currency will continue to be under pressure as long as the government does not address the huge amount of deficit spending that they want to embark on! This is not something you can blame on the black market. The black market functions whenever the real market does not.

Miles300:
it means they will av to register officially to be in the market , thus been regulated by the Cbn , instead of selling at black market rate , they will be selling at Cbn official rates

Better then

fuel importation is one the things that put pressure on naira and unless we get our refineries working, I dont see naira regaining its value soon...

No you're not! This day will surely come to pass. The target would be to re-denominate our currency. N1000 would become the new N1, then they will create a new N5000 which will become the new N5. The end-game is to equate the new Naira to $1 which will be regarded as one of the major achievement of the government/APC

nextstep:
I see where this is going. Before Buhari leaves it will be #1000 to $1. Then they will finally rebase the currency to make #1 to $1. The guy actually has sense*


*I'm being sarcastic.

The only way black market will be non existent is if they make forex available and easy to purchase in the bank at the interbank rate. What's the point of telling pple that dollar is 305 but pple do not have access to forex at that rate. Even if you have valid documents and reasons to obtain forex and u go to many banks, they still have excuses upon excuses on why they are unable to sell to u.... Why won't pple go and source from BM when that is their only way of getting forex. So far as pple continue to patronize BM, this problem of forex inflation will persist. High demand is what has pushed it to 490. Won't be surprised if it reaches 500

lifestyle1:
90% of this dollars go to China and then exchanged to Yuan. Why not just adapt yuan as the main Forex for trading ?

And In few months dollar will crash naturally.

What if China is eliminated from our business conscience and all the low technology and fakes they sell to us are stopped for indigenous research and production in Nigeria institutions. I am absolutely sure the city of Aba can reproduce 85% of what we import from China if given the space and encouragement......

lifestyle1:
90% of this dollars go to China and then exchanged to Yuan. Why not just adapt yuan as the main Forex for trading ?

And In few months dollar will crash naturally.

Smart pants ehh ...you think it's that easy

RonJeremy:

What if China is eliminated from our business conscience and all the low technology and fakes they sell to us are stopped for indigenous research and production in Nigeria institutions. I am absolutely sure the city of Aba can reproduce 85% of what we import from China if given the space and encouragement......

How Na?

kenonze:
This is unacceptable.

Emefile need to Resign

Emefiel manages your banking regulator known as central bank, the Daura herdsman manages the economy.

veekid:

---

Buhari!!!!!!! you have failed this nation

I beg, nor kill am

baba god
abeg
we are crying
make dollar 5000naira to a dollar
make maye pay me 5 billion pounds
I don alert
dollar ni o

Clone2020:
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 410/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

See my contact below.

Your rate is way too low.. Guys are exchanging for $450 when BM rate was at N485.

lifestyle1:
90% of this dollars go to China and then exchanged to Yuan. Why not just adapt yuan as the main Forex for trading ?

And In few months dollar will crash naturally.

They did already..

Euro should stay like that...
Am Coming back with some euro.. Next week.

E don nack 492 right now

nextstep:
I see where this is going. Before Buhari leaves it will be #1000 to $1. Then they will finally rebase the currency to make #1 to $1. The guy actually has sense*


*I'm being sarcastic.

actually i don't think you are been sarcastic, this has been the plan (changi!) all along from the very first beginning

berrystunn:
Euro should stay like that...
Am Coming back with some euro.. Next week.

see you! guys are Already in nigeria with thousands of ££££ and you are talking bout euro, na joke i dey joke o!

Nobody really understands this Govt policies..

That Emefiele guy doesn't know jack and he is not even the Finance minister... The Finance minister is just a tissue box...

Well... Let the suffering continue... I don't even pity folks anymore... they voted for this nightmare, Let the Freddie Krueger nightmare continue...

Clone2020:
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 410/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

See my contact below.

not fair enough. people are doing exchange between themselves at $450 now. I can connect you.

what a touching one...

lifestyle1:
90% of this dollars go to China and then exchanged to Yuan. Why not just adapt yuan as the main Forex for trading ?

And In few months dollar will crash naturally.

90% fx outflow is for petrol importation do we import that too from china?

Goodnews for my dollars wey I hide under my bed. Sai Buhari!

sammyj:
CBN should use policy and systems to curve this situation. I also advise the FG look for a way to increase the in flow of Dollars reduce the pressure on the parallel market!!!

Not difficult my brother. Minister for Diasporas affairs Hon sister Abike Dabiri have informed the finance minister, ' Govt should give tax incentives ( reduction) for Diasporabs willing to come and invest back home. That way more Diasporans would be willing to keep remitting forex down to naija.

lifestyle1:
90% of this dollars go to China and then exchanged to Yuan. Why not just adapt yuan as the main Forex for trading ?

And In few months dollar will crash naturally.

that can not work bcus we only buying from China but don't sell to them so hw r they gonna return d nairas we give them? so Chinese people can agree to that they evn find it difficult to accept their currency bcus they hv to change it to dollars when buy raw materials so they prefer dollars which they spend direct without exchange

AroOkigbo:
What you get when you vote in a man with NEPA bill certificate into power

Ayam not surprised

if u nigeria u will knw that naira started to fall the very mnth goodluck jonathan sacked sanusi lamido and employed emefiele as the cbn governor... dnt put the whole blame on d present government ..

gypsey:
see you! guys are Already in nigeria with thousands of ££££ and you are talking bout euro, na joke i dey joke o!

To make euros easy??

lifestyle1:
90% of this dollars go to China and then exchanged to Yuan. Why not just adapt yuan as the main Forex for trading ?

And In few months dollar will crash naturally.

that's the way forward, bro! instead of them to seek public opinions... they will be busy giving wrong speculations. a lot of professors have brain dysfunctional issues.

... Nigeria is tilting towards a failed state.