seguno2:


Buhari's bad policies made the bad situation worse.

989900:
N405 @ Ikeja right now.
N400 @ Ibadan.

Time for speculators and hoarders to count their gains and losses and move on, or remain adamant and lose all.

Once black market merges with close to Western union, trust me, we are headed for N320 to a dollar in few weeks at the minimum!

wristbangle:


Really? Are u sure?

989900:
N405 @ Ikeja right now.
N400 @ Ibadan.

Time for speculators and hoarders to count their gains and losses and move on, or remain adamant and lose all.

Once black market merges with close to Western union, trust me, we are headed for N320 to a dollar in few weeks at the minimum!

chloride6:
Buy dollar and keep my people. All this injection na hoax. Buy buy buy. OPEC is contemplating another production cut as we speak, cos oil is headed below $50. If you love your education or your business buy and keep.

The CBN is just using this opportunity to allow people cash out of the economy. Every week hundreds of millions released shey na school fees them dey take am buy? I wish I had money, to buy enough and keep.

straneur:


http://investorsking.com/naira-sell-n415-cbn-sustains-intervention-abcon/

Nusaf:


Hahahahahahahahaha. I no fit shout abeg.

femi4:
Good move...no joy yet until it gets to N250

grandstar:


Until CBN allows the currency to float, full fledge confidence won't return.

The sole supplier now is the CBN. What of the private sector?

Earth2Metahuman:
so, you don't have shishi to buy dollars but advising someone to buy and keep so he can lose his own money abi?

Wicked soul.

linearity:


This is throwing good money after bad one. It is a bad move that only produces short lived "reliefs" because it is unsustainable, we do not earned enough Forex to sustain this Christmas give away.

Let's look at some hard numbers; from the above, it stated that CBN have provided about $1.5b since February and added another $180m on Monday.

In Dec, 2016; Nigeria Forex reserved was $25.72b, it increase to $27.88b in Jan, 2017; a difference of $2.16b...and to $29.61 in February, a difference of $1.7b.

Ask yourself a question, for how many months can the government keep pumping about $1.5b into the forex market, an amount equal to our monthly gain in foreign reserve?

linearity:


This is throwing good money after bad one. It is a bad move that only produces short lived "reliefs" because it is unsustainable, we do not earned enough Forex to sustain this Christmas give away.

Let's look at some hard numbers; from the above, it stated that CBN have provided about $1.5b since February and added another $180m on Monday.

In Dec, 2016; Nigeria Forex reserved was $25.72b, it increase to $27.88b in Jan, 2017; a difference of $2.16b...and to $29.61 in February, a difference of $1.7b.

Ask yourself a question, for how many months can the government keep pumping about $1.5b into the forex market, an amount equal to our monthly gain in foreign reserve?

These Naira "gains" are artificial and on steroids, we do not have the infrastructure and GDP to sustain the continual liquidity pump into the forex market, tops give CBN 6 months and they will do about face and give up.

Earth2Metahuman:

You don't get it.
When cbn is not throwing in dollars, they were building reserve from the little oil sale. (That's why dollars keep rising due to scarcity and cbn don't wanna go on spending spree and start throwing shrunk reserve around) now that reserve clocked 30billion dollars and oil production and price have increased tremendously, cbn can throw money around like we used to do since 1960 without any effect.
The only downside is, external reserve won't grow rapidly like 2-3months ago, but the 30billion dollars will still be there incase our brother from naija delta start there wahala again or price of oil falls again.
By then another round of scarcity but won't be worse than what we have now.

HAH:
Nigeria earns in dollars and the government need to spend as well not everything earned will be saved in the reserves, some will be in the reserve some will be used to run the nation, and locally we use naira not dollars as such those dollar earned must be changed by the CBN to those that needs it to naira so that the government can pay salaries and contractors. So the government must sell dollars as long as we earn in dollars

linearity:


I think I got it and we are on this same point, but what I am surprise is your faith in the current government to exclusively use almost 100% (or at least a huge majority) of excess foreign reverse above the current $30b to service Nigeria forex?

I sincerely doubt if that is sustainable.

Also it is the proper use of these money. Investing that money in infrastructure or using it to employ the ever growing jobless youths in Nigeria or paying workers, some who are owed almost 12months salary is a better use as these we help to spread the money deeper into the economy and revitalize it.

chloride6:


Whether I am wicked, whether I am not, we shall see very soon. The conditions necessary to continue this "injection" are so fragile, and would mist probably collapse soon.

If the CBN has enough dollars why can't the weekly dutch auction come back?

Earth2Metahuman:
go and sell your papa house, use the money to buy dollars and hoard it..

I await your suicide note later

straneur:


http://investorsking.com/naira-sell-n415-cbn-sustains-intervention-abcon/

Earth2Metahuman:
go and sell your papa house, use the money to buy dollars and hoard it..

I await your suicide note later

lailo:
Nigerians have succeeded in forcing FG to continue to subsidize naira-dollar exchange rate instead of to allow it appreciate by itself through production of goods and export.

linearity:


I think I got it and we are on this same point, but what I am surprise is your faith in the current government to exclusively use almost 100% (or at least a huge majority) of excess foreign reverse above the current $30b to service Nigeria forex?

I sincerely doubt if that is sustainable.

Also it is the proper use of these money. Investing that money in infrastructure or using it to employ the ever growing jobless youths in Nigeria or paying workers, some who are owed almost 12months salary is a better use as these we help to spread the money deeper into the economy and revitalize it.

Benekruku:
God bless His Excellence, President Mohammadu Buhari (GCFR)


God bless The Federal Republic of Nigeria

Philpham:


Be fooling urself, as if that dullard of an aboki president had a clue what to do. His mu.muness was what pushed Nigeria into recession. If not for his God sent sickness that sent him out of this country , Nigeria would have been in a mess.

I can't wait for that no good president to leave this country once and for all.

Benekruku:
God bless His Excellence, President Mohammadu Buhari (GCFR)


God bless The Federal Republic of Nigeria