Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency - Business (2) - Nairaland
Nairaland Forum / Nairaland / General / Business / Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency (16722 Views)
Naira Trades At ₦1,730/$ At Parallel Market / Naira Trades 1,498/$ At Official Market, CBN Tackles Racketeers / Naira Drops At Parallel Market, Closes 900/$ At Official Window (2) (3) (4)
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by VeeVeeMyLuv(m): 12:53pm On May 28, 2021 |
neyohh:yes they will survive this by further reduction in standard of living in the process of trying to react and adjust to the multiplier effect of naira devaluation. Remember the wage/salary remained constant since 2010. Then in those days Nigerians could afford foreign second hand used (tokunbo) cars. Now majority will only be able to afford to buy Nigerian used cars! Just watch & see. We are getting there gradually. 2 Likes |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by berrystunn(m): 12:54pm On May 28, 2021 |
Looting from looters |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by ddmannn(m): 12:54pm On May 28, 2021 |
How I wish we can start over again from 2014 when GEJ was still the President of our own Nigeria. What we have now is FULANIgeria. 1 Like
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| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Bigshoe2028: 12:55pm On May 28, 2021 |
Who will buy and hold a dc from a country almost everybody is a thief 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Nobody: 12:57pm On May 28, 2021 |
Let's sell Nigeria and travel abroad.. |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by FreeIgbos: 12:57pm On May 28, 2021 |
Wake me up when naira exchanges 1000 to 1 dollar, and don't think it's farfetched because it will happen this year  |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by neyohh: 12:59pm On May 28, 2021 |
VeeVeeMyLuv: Do you know how many times people have recommended devaluation? , I'm talking about experts oh.. The devaluation they asked for is here, so let's see what happens. |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by MondayOsunbor(m): 1:00pm On May 28, 2021 |
Happened: JESUS what is value of Naria at the start of buhari tenure |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Nobody: 1:00pm On May 28, 2021 |
Sai Barbarians will avoid this post. @Mannabbqbrills, is this how your darling daddy is moving Nigeria forward? Excessive devaluation of the Naira. You and Buhari are very useless 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by MadeINchenzen2: 1:01pm On May 28, 2021 |
Oduducoin Biafracoin ArewaCoin Fulanicoin Afeniferecoin Nairacoin MbakaCoin BuhariCoin ElrufaiCoin AsoCoin WazzoCoin DangoCoin TinubuCoin KoboCoin Mnkcoin ShitCoin Cowcoin Make dem choose one !!! 2 Likes
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| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by money121(m): 1:10pm On May 28, 2021 |
Ok |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Grace001: 1:11pm On May 28, 2021 |
Attribute of a failed useless cursed country 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Youngminister(m): 1:12pm On May 28, 2021 |
So las las $1 = #1na scam abi. Next time a guy tells us he has affidavit and it's the reason why we should vote him as president, please let's send him back to school and move on seriosly |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by MOVIC6: 1:12pm On May 28, 2021 |
 NakwansaPolice: 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by VeeVeeMyLuv(m): 1:13pm On May 28, 2021 |
neyohh:Bros devaluation only further compounds the problem The so-called experts always advocating for devaluation do so because they probably earn in foreign currencies. They don't have any cogent reason for devaluation. 3 Likes |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by OdefaGirl(f): 1:23pm On May 28, 2021 |
I am scared of what Nigeria will become in the next five years..... 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Kpartners: 1:44pm On May 28, 2021 |
[quote author=FreeIgbos post=102139686]Wake me up when naira exchanges 1000 to 1 dollar, and don't think it's farfetched because it will happen this year "Possible not", says my friend from Malaysia |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by shiwex: 1:46pm On May 28, 2021 |
The dunce Buhari has killed Nigeria |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Kpartners: 1:47pm On May 28, 2021 |
Youngminister: 1 to 1 I laugh in Swahili |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by porthouse7(f): 1:58pm On May 28, 2021 |
grandstar:2 zeros not 4 |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by CocoaOla: 2:04pm On May 28, 2021 |
hyperinflation is coming nigerians are going deeper into mega poverty 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by VeeVeeMyLuv(m): 2:10pm On May 28, 2021 |
CocoaOla:what is the solution to this impeding disaster. Apart from converting and saving our funds in £, $ and €, any other solutions? 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Youngminister(m): 2:25pm On May 28, 2021 |
Kpartners:Why swahili |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by boyjo: 2:31pm On May 28, 2021 |
Happened:No we don't want cryptocurrency. We reject it in JESUS name, amen. |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by omohayek: 2:31pm On May 28, 2021 |
“Under cryptocurrency and Bitcoin, Nigeria comes second while in the global side of the economy, Nigeria comes 27th. We are still conducting our investigation and we will make our data available.”Of course Emefiele is too slow to appreciate that there's an obvious connection between these two phenomena. Cryptocurrencies are popular with Nigerians because Nigeria's official currency is so poorly managed! If the Naira were a stable, low-inflation currency like the Euro, the Yen or the USD, Nigerians wouldn't have to trouble themselves so much with illiquid and highly volatile "currencies" like Bitcoin, which in truth is more a vehicle for speculation than a means of exchange anyone would use for daily transactions. 1 Like 1 Share |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by omohayek: 2:37pm On May 28, 2021 |
VeeVeeMyLuv:Nonsense. Devaluation of the "official" exchange rate only means recognising the reality that the Naira simply no longer has the same buying power it formerly did. This in turn means the FG no longer has to subsidize the purchase of US Dollars by a few lucky connected individuals (e.g. Dangote) by robbing all the ordinary people of the true value of their hard-earned forex through insisting on an artificially low price. The real driver for the never-ending plunge in the value of the Naira is that Nigerian governments like to cover their obligations by printing more paper Idi-Amin style, even when the real economy isn't producing enough additional goods and services to justify the new paper. Nigerian governments count on just the sort of financial illiteracy you display to deflect the blame for their recklessness onto "devaluation", as if it simply happened on its own without any underlying reason. They expect you to mistake the symptom for the cause, and most of you fall for it again and again. 3 Likes |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by CocoaOla: 2:39pm On May 28, 2021 |
VeeVeeMyLuv:buy land, electronics, probably new model cars, priced in cryptos currency, invest in appreciating stocks, export made in nigeria goods to earn in dollars farm your own foods cut your expenses always look for bargain price in markets dont save in naira for long 1 Like |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by ussv: 2:40pm On May 28, 2021 |
Dem don dey look for avenue to thief money wey go hard to trace |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by livinbygrace: 2:42pm On May 28, 2021 |
With the way things are going in Nigeria ,it’s better to live/stay in Benin Republic than this country right now.In 2010,I changed 3000 naira to 10,000 Cefa but I was surprised this Monday when I changed same 3,000 naira and they gave me just 3,300 Cefa and with the level of infrastructures (good roads,stable electricity supply) ,security I saw there ,it’s better to leave this Nigeria and go there until this useless Nonsense Man is out of Aso Rock 2 Likes |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by nurez305(m): 2:57pm On May 28, 2021 |
grandstar:can you expansiate on this, how did they remove it? Why can't we also remove 2 zero and make it one dollar for 5naira ? |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by Elsueno: 3:01pm On May 28, 2021 |
Ademola47: Mr President think say na loyalty alone go move a country forward. the problem is, most his "loyal" aids don't have any loyalty to d country. Not only dat, They are extremely incompetent but Mr President keeps shielding them |
| Re: Naira Slips To 490/$ At Parallel Market, CBN Plans Digital Currency by MrBONE2(m): 3:05pm On May 28, 2021 |
leofab: Yeah SiSi Before then Babu will remove the 3 Zero and make Naira Stronger where by1Naira will be exchanged to a Dollar #1/$1 And with that Babu hayaaf fulfilled his promise  |
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