Is it time for me to offload the dollars in my reserve, experts in the field should educate me?

The drop of Naira is a blessing to some , people like me , because $2k dollars is giving me twice of my monthly savings and expectations.... I told my friend kunle not to vote this Ediot in Aso Rock(sai Barbar) , he refused and said it will pave way for Yoruba presidency, and I asked him are u sure u will be alive to see 2023, will Yoruba presidency make u richer than dangote , why do you want to mortgage ur generation and ur future because of one man selfish interest (Ashiwaju Thiefinubu) I told him, if this Ediot inside Agbada won the election, I will aution everything I have in this world and japa to more saner clime, and I did as I said, now eyes don red, pocket don dry, nah , bros abeg u get few Naira for me, I will give him oooo but before I do so, I reminded him how he sold his conscience because of Tinubu selfish interest

DICKstractor:


Is that the $1 to N1 that we were promised?

www.nairaland.com/attachments/2403078_buharinairatodollarpromise_jpeg536f4a3346e6a689940c6ceb025c51a7

Buhari Has Created Another System Of Corruption – Emir Sanusi

As many commended Emir Sanusi for his timely statement on the Nigerian economy, others however, chose to focus on a particular statement he made which many see as “carrying weight” as it suggests something quite interesting.
Sanusi while delivering a lecture on Wednesday at the 15th meetings of the joint planning board and national council on development planning in Kano, titled ‘Nigeria in search of new growth model’, has made some shocking statements which attracted commendations from economic experts, but concern to ordinary Nigerians.
He accused the Buhari led administration for indirectly following the path of recent administration on issues relating to financial fraud. He puts it as quoted below:
‘’We can always talk of the policies of the previous administration and we talk of oil subsidy and how it turned people into oil millionaires.
But we have created another set of millionaires since 2015 from foreign exchange.
‘‘The people telling the government that if you devalue people will suffer are the ones benefiting presently. They bought the dollar at N179 and price their goods at N300.The poor pay the price of a devalued currency, the rich take the profit.
“You may not like it, but that is the truth. Any system that allows you, with one telephone call, to make N1bn without investing one kobo; the system is wrong,” Sanusi added.

NIGERIANS REACT
Following this stunning revelations, Nigerians have since expressed outrage that the government which promised to fight corruption, turned out to be most corrupt itself. They also accused the Buhari administration of destroying the Nigerian economy and creating hardship for Nigerians by using scarce forex to enrich a few individuals in the name of subsidy. Below are some of the reactions we compiled.
Mrs Helen a petty trader, who spoke in hausa expressed her disappointment with the current government, she said, “All my life I’ve never seen such a cruel and heartless government like this one. Since this government came into power, things has been getting worse. Our husbands are either losing their jobs, or are not being paid for months. All we’ve been hearing is ‘be patient, be patient,’ for God sake, what would we gain if our patience took us to our early grave? While they are telling us to be patient, many have already died. Tell me, what is their benefit? Many have also become thieves even stealing cooked food just to survive. I don’t blame APC, I blame those who voted and bring this evil upon us. Now look at it, they are busy sharing our monies to themselves. God is watching!
Adamu in his own reaction, simply said, “If they like, let them eat the whole central bank. God will not leave us alone.”
Any system that allows you, with one telephone call, to make N1bn without investing one kobo; the system is wrong – SANUSI

http://igberetvnews.com/266501/buhari-has-created-another-system-of-corruption-emir-sanusi/

www.nairaland.com/attachments/3431120_cdatausersdefappsappdatainternetexplorertempsavedimages3420191picsart1455886204785jpeg503a9ea978cee321112203705090d494_jpeg42f7ff794fb9c526b6223de620a8596b



www.nairaland.com/attachments/4780865_img20170115wa0000_jpeg1d8e7567925b3c58ce06da5797c6a05a

For me forex trading is a no no right now.... Stocks all the way... #Bullish

Nemere2020:


https://www.thecable.ng/breaking-naira-to-trade-at-386-as-cbn-resumes-fx-sale-to-bdcs

Lolz.. scam

It don’t matter

As long as product prices adjusts downwards to ore dollar rise period

Better

This is just CBN propaganda to ease tension in the market.

[color=#000099][/color]why you may ask your brother emefele instead buhari, tribalism

crossfm:
CBN,why note ask our darling daddy about 1 dollar to 1 naira.

Abi the time for such change never reach.
I forgot,fuel is now 45 naira in ................
Oh oo,so na dream I da dream.

kambili999:
daddytime

Yes, darling.

Daddy loves you, daughter.

GuestLog:
Baba, this price change will affect price of Bitcoin. All your crypto will be devalued when converted to naira. If you have dollar investments or crypto, just count your losses.

The bitcoin is to move it between countries my G, excedding the limit of 10,000 dollars a day most banks give you.

With bitcoin you can move 100,000 dollars worth of btc in 2 hours, only those who know know

Your cypto wont devalue if you using it to launder money, it only devalues when you buy bitcoin for a certain price and you leave it there and the next day if the price of btc has gone down so would be your money in your wallet.

You use the bitcoin to move the money after you have round tripped it from the BDC and black market

Hope this helps

UDUJ:

It will be good if they can implement it, but we all know it's all talk. Nothing works here

Keep being a perssimist.. Keep running yourself down..

Some of you kids really sound OBTUSE..A policy in place since yesterday and even as of 7pm,I exchanged the dollar for Naira at 390 in Abuja by Sheraton,as against 446 on Tuesday,..This is what you are saying won't work

Just because you just want to to seen to be online?

Kids of today!

crossfm:
CBN,why note ask our darling daddy about 1 dollar to 1 naira.

Abi the time for such change never reach.
I forgot,fuel is now 45 naira in ................
Oh oo,so na dream I da dream.

Stop sounding like one local,"village Brought-up" semi literate...

Or are you one?

lazinny:
Pipe dream

Child of Pain and Perdition!

daddytime:

Yes, darling.
Daddy loves you, daughter.

lol

kambili999:
lol

How much is dollar in black market rate please help me

adonainana:
Round tripping Form M boys wa gbayi

Change naira to dollars at BDC for 386 go to black market to the dollars to naira back at 470

With bitcoin at 478 oh boy making money go seeet no be small

Please expatiate further.
This thing you just shared sparked my interest.

DICKstractor:


Is that the $1 to N1 that we were promised?

Almijiri be waiting for $1 to the Naira, what have you exported to make foreign exchange for yourself? You are waiting to count another person’s money?

BOOKWORMLUX:
How much is dollar in black market rate please help me

check abokifx for your daily rates.

lowkeybahdguy:

The CBN's monetary policy leaves a lot to be desired. more politically motivated than economical.

Spending money to defend the value of the naira isn't a smart long term plan. The market should be allowed to determine the value of the currency and more importantly is the need to merge the parallel rates into one.

If not kwaraption, how can you continue to do same thing over and over again without any positive outcomes. What you said is just d simple solution, but kwaraption cannot let it happen....

crossfm:
CBN,why note ask our darling daddy about 1 dollar to 1 naira.

Abi the time for such change never reach.
I forgot,fuel is now 45 naira in ................
Oh oo,so na dream I da dream.

Zombie oooooooooooooooooooooooooooooooo

Zombieeeeeeeeeeeeeeeeeeeeeeeeeeeeeee


They will soon come for you

mentored:




Zombie oooooooooooooooooooooooooooooooo

Zombieeeeeeeeeeeeeeeeeeeeeeeeeeeeeee


They will soon come for you

They have launched their attack already,but I ignored them.They are suffering and smiling.

One thing I know for sure is that we are in this together.

Dollar is dangerously weak yet N386 exchanges for US$1

adonainana:


The bitcoin is to move it between countries my G, excedding the limit of 10,000 dollars a day most banks give you.

With bitcoin you can move 100,000 dollars worth of btc in 2 hours, only those who know know

Your cypto wont devalue if you using it to launder money, it only devalues when you buy bitcoin for a certain price and you leave it there and the next day if the price of btc has gone down so would be your money in your wallet.

You use the bitcoin to move the money after you have round tripped it from the BDC and black market

Hope this helps

You are right but you don't understand my point. Let me rephrase.

If you bought bitcoin at N475 on the 30/Aug and naira become N386 on 31/Aug and you make withdrawal, you will realise that you made loss if BTC didn't get any significant price change within 24hrs.

The problem is not BTC, conversion to naira is the problem. The people who will benefit are those buying BTC at the new naira price because it reflects what is seen on crypto statistics sites like coinmarketcap

GuestLog:
You are right but you don't understand my point. Let me rephrase.

If you bought bitcoin at N475 on the 30/Aug and naira become N386 on 31/Aug and you make withdrawal, you will realise that you made loss if BTC didn't get any significant price change within 24hrs.

The problem is not BTC, conversion to naira is the problem. The people who will benefit are those buying BTC at the new naira price because it reflects what is seen on crypto statistics sites like coinmarketcap

Nothing is reflecting on any cypto currency site

The price of BTC goes up and down, everyone understands that, you cant bring in naira rates whilst buying or selling btc

The reasons nigerians started converting btc to naira/dollar rate because it was more covenient to do so

You can get someone selling btc at 478 and the btc he gives you is cheaper than the person selling at 390.

The money transfer or money laundering aspect of what i am talking about is completely different, even if 1 btc is 1 naira,

adonainana:


Nothing is reflecting on any cypto currency site

The price of BTC goes up and down, everyone understands that, you cant bring in naira rates whilst buying or selling btc

The reasons nigerians started converting btc to naira/dollar rate because it was more covenient to do so

You can get someone selling btc at 478 and the btc he gives you is cheaper than the person selling at 390.

The money transfer or money laundering aspect of what i am talking about is completely different, even if 1 btc is 1 naira,

This shows you know nothing about trade. You're just after the hype of BTC without background knowledge of economics.

You live in Nigeria, earn in Naira & buy cryptocurrency with Naira and you say this price drop won't affect Nigerians buying cryptocurrency right?

Let me enlighten you some more.

You use your naira to buy crypto at N475 as a street guy and sent to your paddy to withdraw(forget institutionalized laundry & racketing). The next day you're told that naira has gained to the dollar now at N386 (Difference of N89 per $1. Don't you think that if your friend should convert back to naira he will be short of N89 for every dollar if all things being equal in terms of market waves?

This is simple maths, I don't know why you find it difficult to understand or you simply like argument?

Lol... Dollar is now x5 of this...


Nigeria is sinking 💔