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Nairaland Forum / Nairaland / General / Business / Comparing The Nigerian Naira And The Benin Republic Cefa (70848 Views)
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Re: Comparing The Nigerian Naira And The Benin Republic Cefa by chiefobdk(m): 9:56pm On May 14, 2021 |
Funminded: God forbid... You re so gullible... Cant even think |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by UncleKoboko: 10:05pm On May 14, 2021 |
SUPERPACK:Guy forget nonsense! Our ONLY problem to begin with is bad leadership! Especially by the Northerners. IS IT NOT THE SAME OIL THAT THEY USED TO DEVELOP DUBAI, SAUDI, KUWEIT ETC? YOU PEOPLE SHOULD REMOVE THIS NONSENSE MENTALITY FROM YOUR HEAD. BLAME THE LEADERS! |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Daisukee: 10:07pm On May 14, 2021 |
You got it all wrong, imangine a Nigerian schooling in Benin republic in 2014, in 2014 the tuition fees, accommodation and transportation fare for a semester was 1 million cefa and in 2014 1 million cefat was equivalent to 300 thousand naira, all my parents needed do is to send three hud red thousand naira from Nigeria to me In Benin republic and over a million cefa will reflect in my account in Benin republic and all my expenses would be settled for that semester, now fast forward to 2021, the tuition fee remains the same, transportation fare same and but my parents would need to send me 900 000 naira now from Nigeria before I can have a million cefa. You see the difference ? And if you are talking about purchasing power it should be what can 1 dollar buy against what can 1 naira buy, not 1 dollar versus 480 naira. While I was in Togo in November I met a woman at olando market in Lomé, because it’s been ages she came to buy shoes last from Togo to Nigeria she wasn’t aware of the new exchange rate, when reality dawn on here she realized That the money she brought from Nigeria due to the recent exchange rate could not even buy baby shoe talkless of bulk for sale, she had to restrategize and ended up buying medicine for skin rashes to resell in Nigeria because that’s what she could afford .. abeg which school you go? igbosoupkitchen: 1 Like |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by UncleKoboko: 10:07pm On May 14, 2021 |
[s] igbosoupkitchen:[/s] Complete trash. Keep fooling yourself and those fools liking your stupîd post. You don't know anything! How many countries have you been to? Rubbish! |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by UncleKoboko: 10:12pm On May 14, 2021 |
DCmonster:I swear, it's foolishness at its peak. Very brainless 1 Like |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by UncleKoboko: 10:14pm On May 14, 2021 |
Atteraino:All northerners.... Especially that old fool called Buharī 1 Like |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Puhrs: 10:22pm On May 14, 2021 |
Hmmm |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by travelwaka: 10:33pm On May 14, 2021 |
Thank you, I appreciate, the goal is to visit every country across the world. ElValiente: 1 Like |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Daisukee: 10:35pm On May 14, 2021 |
Illiteracy bad sha, na because of this nonsense you wan marry person ? No wonder Buhari easily deceived you people. Everything that person wrote there is complete trash Ezemust: |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Ezemust: 10:39pm On May 14, 2021 |
Daisukee:buhari can never deceive an igbo man.check ur history....that woman is very beautiful.dont u think so? |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Housing(m): 11:04pm On May 14, 2021 |
igbosoupkitchen: Thanks for your analysis but the current exchange rate was brought about by speculation and inordinate ambitions of BDC. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Sammyblaq(m): 11:19pm On May 14, 2021 |
deepwater:God bless you. Naira is valueless. With a whole N1,000, one cannot procure a phone charger. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Housing(m): 11:30pm On May 14, 2021 |
SUPERPACK: Speculation and inordinate ambitions of BDC backed by government ineptitudeness. Buhari met Dollar at 195, he succumbed to devaluation in April 2016 by January 2017 a Dollar was 520. When Buhari returned around 20th January 2017 he threatened to ban BDC if value of Naira didn't improve. Under 24hours Dollar crashed to 327 to a Dollar. I had to rush and empty my Domiciliary account and cashed out. We are where we are today because of speculation, round tripping and government ineptitudeness. Emefile is a wicked man how can you float the currency of an import dependent country? He only started protecting the Naira when Oshibajo acted as President in 2017. A Nigerian bank will borrow $10Million Dollar from a bank at 5% annual interest rate which worth just about N2Billion, will appreciate to N3.5Billion within two months. Our brown envelope press were part of conspiracy. Before the eventually devaluation of Naira everyday you read in the Nigerian dailies IMF advise Nigeria to devalue Naira why are the people interviewing IMF everyday? To remain in the forex department in any Nigerian banks you have to always settle those in charge. They all took advantage of a clueless government. The government knew but major beneficiary are his ethnic groups. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by DCmonster: 11:40pm On May 14, 2021 |
pocohantas:Jesus Christ son of Mary! I am very disappointed in you. I expected more from you, maybe you are the same person. Smh! 1 Like |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Imagynation: 11:41pm On May 14, 2021 |
igbosoupkitchen: You are a bad economist why not focus on what 1naira in Nigeria can also buy instead of changing naira to dollar to show the purchasing power.Can Nigeria 1 Naira buy anything in the whole of Nigeria as a country? 2 Likes |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Localordinary: 11:58pm On May 14, 2021 |
Africa is a shithole continent. How can labour be very cheap? In the whole world,Africa has the cheapest labour market. It should not be so. Until our leaders wakeup,this continent will continue to be a shithole continent thebosstrevor1: |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by edgecution(m): 12:06am On May 15, 2021 |
deepwater: Minimum wage in USA IS ABOUT 7$. Even with 11$ , no way you will make 2k after tax. Get your facts right. That 1.5k is not enough for monthly house rent in New York. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by lexyman(m): 12:10am On May 15, 2021 |
igbosoupkitchen: So true that I believed that 95 % of people on Nairaland are kids . Wrong analyses with so much likes and validation from like minds 1 Like |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by frankobi1: 12:33am On May 15, 2021 |
Few more years of APC and Buhari govt CFA will over take naira. Bookmark this |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Cooky007(m): 12:51am On May 15, 2021 |
THE PROBLEM IS BROUGHT DUE TO OUR SYCOPHANCY, OUR LEADERS THEY ARE KNOWN FOR WASHING THE OUTSIDE OF A CALABASH WHILE THE INSIDE IS DAWM DIRTY. JUST LIKE THE PROVERBIAL PHARISEES WEARING LONG ROBES OR ATTIRE MOVING AROUND EXPECTING REGARD AND ESTEEM FROM THOSE THEY OPPRESS. YES VERY SOON I TELL YOU IF CARE IS NOT TAKEN THE CFA WILL DOUBLE THE NAIRA. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by dochenaj: 1:01am On May 15, 2021 |
igbosoupkitchen:I guess when $1 becomes #1000 you'll be very excited because then while the $1 buys just a cup of tea, your #1000 can now buy you "tea( coffee, lipton,milo and milk) +sandwich" for 2 days. 2 Likes |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by dochenaj: 1:03am On May 15, 2021 |
lexyman:I read it, and saw the likes and was flabbergasted. "Like seriously?", I couldn't help myself but think. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by dochenaj: 1:27am On May 15, 2021 |
When your currency loses value, in the short term it might seem unnoticeable, but eventually there is equilibration and that equilibration is called inflation. As long as you import a considerable amount of goods it will eventually reach everything. And the more import dependent you are, the faster and the huger the impact of the inflation. Following the 6 degrees of separation, every product is at most 6 degrees connected to an imported product. The other day someone was complaining about how expensive bird feed has become, eventually that would affect the price of all bird products (eggs, chicken) For a country heavily dependent on importation, it is only matter of time before every product would have to equilibrate to reflect the value of the currency. The other day, I learnt sachet water now goes for #200 a bag, and of course the retail price for one sachet is #20, this was just #5 a few years ago. One of the products that takes time to be affected is rent, but eventually it will equilibrate. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by aycapri(m): 2:18am On May 15, 2021 |
lebete3000:the exchange value I got was almost same naira denomination. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Tannhauser(m): 2:20am On May 15, 2021 |
pocohantas: This girl abi na woman sef, you no go kee pesin |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Mailthaddeus(m): 2:47am On May 15, 2021 |
travelwaka: Meaning we can start saving our money in CeFa. Cos Naira is helplessly helpless under Buhari. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Lucas4903: 3:32am On May 15, 2021 |
igbosoupkitchen: Guy you get time to dey explain ooooo. Anything to drag Nigeria in the mud is what everybody is after. Naija is muddy already but person wey dey cry dey see road. What #1000 can purchase do they thing 1100XOF can purchase it.........they just look at numbers but not the economics behind it. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by galadima77(m): 3:51am On May 15, 2021 |
And why is Nigeria still shipping in that prepaid meter instead of building the factory here? Let's be practical for once |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by DedeNkem: 4:43am On May 15, 2021 |
SUPERPACK: I believe corruption comes first in what kept Nigeria in the abysmal condition today before its inability to diversify! |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Godson32(m): 4:56am On May 15, 2021 |
heniford2:U re even considering naming an innocent child buhari. |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by studentofTruth: 5:29am On May 15, 2021 |
igbosoupkitchen: What you're trying to explain is "Cost of Living", Not "Purchasing Power" For me, the major problems with living in Nigeria are lack of electricity, insecurity, and miserable healthcare! |
Re: Comparing The Nigerian Naira And The Benin Republic Cefa by Funminded: 5:41am On May 15, 2021 |
chiefobdk: Sadly, you are Wisdom-deprived and as such, would never be able to comprehend a simple writeup. Sorry for you. |
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