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Naira Sinks To 530 Against Dollar, Pound Hits N720 - Business (7) - Nairaland

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Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by naija1stnigar(m): 3:57pm On Sep 03, 2021
Next statement from Buhari: Nigeria's economy is on all time high since 2014, when it comes to Apc performing their duty they are clueless but to add more insults to injury they are highly intelligent.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by AkaraAndBread: 3:57pm On Sep 03, 2021
OmovuduTheBeast:


SHUT UP!!!

YOU ARE THE ONE THAT DEPENDS ON THE USELESS GOVERNMENT FOR MONTHLY 5K STIPEND!

EKPA!

Ogbeni calm down. Don't allow your anger to misrepresent the facts on ground.

BMC e-rats are paid N15k monthly..
Ask any of them.

2 Likes 1 Share

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 3:58pm On Sep 03, 2021
Comedian2019:
Buharinomics is working. 2,000 before 2023.
Las las, Naija go borrow sense.
Mention Emefiele, monetary policy is controlled by the central bank.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by OmovuduTheBeast(f): 3:59pm On Sep 03, 2021
Antoeni:
*State of the Nigerian Nation.*

A typical Nigeria *"Big boy/lady"* wakes up in the morning, turns off his alarm clock made in *CHINA*, gets out of his bedsheets woven in *INDIA*, puts on his clothes made from wool in *BANGLADESH*, shoes from *ITALY*, drinks his orange juice from *SPAIN*, puts milk made in *DENMARK* in his coffee produced in *BRAZIL*.

He jumps into his Toyota Camry car made in *JAPAN* to the *TOTAL* service station *(FRANCE)* to refuel PMS, imported from Europe and takes his *KOREAN* Samsung Galaxy Note 20 Ultra phone made in *TAIWAN* and buys data for his MTN SIM card *(SOUTH AFRICA)*.

At noon, he leaves his COCA-COLA *(USA)* office and joins his friend who smokes *AMERICAN* cigarettes, they eat *THAILAND* rice, drink *ITALIAN* wines and returns home to watch the El Classico on DSTV *(SOUTH AFRICA)*.

*Without spending a kobo on anything made in Nigerian and you want Nigeria to grow!!!?*

It will take magic for the Naira to stabilize against the dollar_*.


SHUT UP!!!

YOU ARE SAYING RUBBISH

3 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:00pm On Sep 03, 2021
AkaraAndBread:


Ogbeni calm down. Don't allow your anger to misrepresent the facts on ground.

BMC e-rats are paid N15k monthly..
Ask any of them.
BMC’s that made you the opposition wailing upandan?
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:01pm On Sep 03, 2021
Antoeni:
*State of the Nigerian Nation.*

A typical Nigeria *"Big boy/lady"* wakes up in the morning, turns off his alarm clock made in *CHINA*, gets out of his bedsheets woven in *INDIA*, puts on his clothes made from wool in *BANGLADESH*, shoes from *ITALY*, drinks his orange juice from *SPAIN*, puts milk made in *DENMARK* in his coffee produced in *BRAZIL*.

He jumps into his Toyota Camry car made in *JAPAN* to the *TOTAL* service station *(FRANCE)* to refuel PMS, imported from Europe and takes his *KOREAN* Samsung Galaxy Note 20 Ultra phone made in *TAIWAN* and buys data for his MTN SIM card *(SOUTH AFRICA)*.

At noon, he leaves his COCA-COLA *(USA)* office and joins his friend who smokes *AMERICAN* cigarettes, they eat *THAILAND* rice, drink *ITALIAN* wines and returns home to watch the El Classico on DSTV *(SOUTH AFRICA)*.

*Without spending a kobo on anything made in Nigerian and you want Nigeria to grow!!!?*

It will take magic for the Naira to stabilize against the dollar_*.
Don’t mind them, nothing they produced, nothing their fathers produced, just to be wailing.

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Comedian2019: 4:01pm On Sep 03, 2021
Buckeyemedia1:
Mention Emefiele, monetary policy is controlled by the central bank.
The Chief Financial Officer is Buhari.
Nigerians didn't vote for Emefiele.

3 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by membranus: 4:03pm On Sep 03, 2021
Antoeni:
I can’t stop you from displaying your stupidity and foolishness, , it’s your God given
Talent, but please don’t misuse it

We know you. Your job with your master will become obsolete within the next two years.

So we will continue to endure you BMC people's intellectual derangement till or before 2023.

Meanwhile, hope you are already looking for another job?
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:04pm On Sep 03, 2021
Comedian2019:

The Chief Financial Officer is Buhari.
Nigerians didn't vote for Emefiele.

The Chief Financial Officer (CFO) of a country (Chairman of The Reserve) Central Bank has primary responsibility for the planning, implementation, managing and running of all the finance & monetary policies. Federal Government jurisdiction is Fiscal policy the use of government spending and taxation to influence the economy. Governments typically use fiscal policy to promote strong and sustainable growth and reduce poverty.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 4:04pm On Sep 03, 2021
cybriz82:



Taaaiii como for here u dnt knw anything about abacha so just Liv iz name outta ur man...that man is a trillion time better than this one they calld Mr change..
..


You that know everything about abacha,Mr abacha pa,abacha junior brother,abacha support group co-ordinator.

Go and re-read my comment,but this time do it very slowly and attentively.. when you have seen were you embarrassed yourself,write me an apology letter.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by poiZon: 4:08pm On Sep 03, 2021
bayelsaowei:
sometimes you can't fathom the mumuness of this administration and its obvious drive for rubbish..

Buhari and his gang still feels that until they see oil in the North the world won't move forward..

I tire...
Meanwhile the dullard was singing agriculture, making so much noise about Nigerians growing what we consume, yet he can't even invest in agricultural sector.
Audu ogbe came in made so much noise, at the end a bag of rice went out of reach of common man, now the nanono entered, price of beans follow suit. Make i no talk of maize... My friend's poultry packed last year december after price of feed went up from 3500 to 6500.
The entire 750birds he bought died.
My 34k still dey the guy hand till now wey i give am to assist am buy feed.
Wetin buhari good at... Rubbish and ingredients
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by misano(m): 4:09pm On Sep 03, 2021
thebosstrevor1:


People like you that depend on the government for survival always have one problem and that is frustration.

Accept it, Buhari & APC has failed. Just accept it.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:09pm On Sep 03, 2021
membranus:


We know you. Your job with your master will become obsolete within the next two years.

So we will continue to endure you BMC people's intellectual derangement till or before 2023.
APC in Federal power till @ least 2027.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 4:10pm On Sep 03, 2021
[quote author=AkaraAndBread post=105455458]

Abacha is far better.

Although he was a kleptomaniac at least he kept sending the country credit alerts more than twenty years after his death. [/quote

Nigerians weren't happy during abacha regime too..

Abacha died and Nigerians were celebrating his death.

Your point stands though,but does not render mine invalid.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:10pm On Sep 03, 2021
misano:


Accept it, Buhari & APC has failed. Just accept it.
Better democrazy has failed in Nigeria just accept it, because you cannot tell me anything your state & Local Government has done for you since May 29th 1999?
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Comedian2019: 4:10pm On Sep 03, 2021
Antoeni:
*State of the Nigerian Nation.*

A typical Nigeria *"Big boy/lady"* wakes up in the morning, turns off his alarm clock made in *CHINA*, gets out of his bedsheets woven in *INDIA*, puts on his clothes made from wool in *BANGLADESH*, shoes from *ITALY*, drinks his orange juice from *SPAIN*, puts milk made in *DENMARK* in his coffee produced in *BRAZIL*.

He jumps into his Toyota Camry car made in *JAPAN* to the *TOTAL* service station *(FRANCE)* to refuel PMS, imported from Europe and takes his *KOREAN* Samsung Galaxy Note 20 Ultra phone made in *TAIWAN* and buys data for his MTN SIM card *(SOUTH AFRICA)*.

At noon, he leaves his COCA-COLA *(USA)* office and joins his friend who smokes *AMERICAN* cigarettes, they eat *THAILAND* rice, drink *ITALIAN* wines and returns home to watch the El Classico on DSTV *(SOUTH AFRICA)*.

*Without spending a kobo on anything made in Nigerian and you want Nigeria to grow!!!?*

It will take magic for the Naira to stabilize against the dollar_*.
Trash.
Naira can only grow under the following conditions.
If corruption stops, and refineries start working efficiently, start-ups are encouraged, brilliant minds are appointed as ministers, rather than people like Lai Mohd or Adamu Adamu.
So many policies are killing businesses in Nigeria, just to favour the likes of Dangote. Don't blame the individual consumer, blame the policy makers.

4 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Newboss(m): 4:12pm On Sep 03, 2021
thebosstrevor1:
I know some people are happy that the dollar keeps appreciating against the naira.

If the dollar keep appreciating that means the cost of goods and services will increase, which will make life more difficult for you.

If you like keep buying dollar and saving it in dollars or usdt, as long as exchange rates are not stable, you are losing and also losing even when you convert your saved dollar back to naira, inflation will devalued it.

Inflation does not respond instantaneously to factors like exchange rate. It takes weeks for inflation to respond to it. You'd know this if you've been paying attention.

That house that was in the market for 50m is still available for 50m despite the fact dollar is now 530. The price of cars and food have not responded yet.

You will always have enough time to capitalise on exchange rate changes before inflation responds to those changes.

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:13pm On Sep 03, 2021
Comedian2019:

Trash.
Naira can only grow under the following conditions.
If corruption stops, and refineries start working efficiently, start-ups are encouraged, brilliant minds are appointed as ministers, rather than people like Lai Mohd or Adamu Adamu.
So many policies are killing businesses in Nigeria, just to favour the likes of Dangote. Don't blame the individual consumer, blame the policy makers.
You must be a civil servant?, you know nothing about economics, We have what we call lame men in economics, you fit the perfect description.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Osashalom: 4:14pm On Sep 03, 2021
By December $1 will be #1,000 and £1 will be #1,500. Buhari is out for total destruction of Nigeria.

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Bigsunny01(m): 4:14pm On Sep 03, 2021
BigRocky:


Until buhari leave office,there will be nothing like Nigeria. Cowgeria,zoogeria,and fulanigeria has taken the centre stage.

As for the cbn governor, he is on a competition of incompetency with is pay master.



Dis country tire me reach throat.... Honestly I'm just praying for God favour to locate me make I live dis zoogeria and go look for a greener pasture in anoda man's land since daz de only hope of survival now

2 Likes 1 Share

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Comedian2019: 4:16pm On Sep 03, 2021
Buckeyemedia1:
You must be a civil servant?, you know nothing about economics, We have what we call lame men in economics, you fit the perfect description.
You never studied economics, else you'll understand my summary.
You must be a technician forming economist on NL grin

3 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:16pm On Sep 03, 2021
Osashalom:
By December $1 will be #1,000 and £1 will be #1,500. Buhari is out for total destruction of Nigeria.
Buhari? What do you expect from a people that have chosen no to be creative, Nigerians making foreign exchange are not complaining, they are the ones that control the economy.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 4:19pm On Sep 03, 2021
Bigsunny01:



Dis country tire me reach throat.... Honestly I'm just praying for God favour to locate me make I live dis zoogeria and go look for a greener pasture in anoda man's land since daz de only hope of survival now


Everyone want to jakpa grin

Naira is loosing value every single day.

Miyetti Allah and their terrorist foot sodiers are gaining momentum, while their oga in aso rock is waging war against kanu and igbohor.

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:20pm On Sep 03, 2021
Comedian2019:

You never studied economics, else you'll understand my summary.
You must be a technician forming economist on NL grin
Bigoted summary @ best, Dangote has done for Nigeria, what no man in your tribe has done, so give credit where credit is due. How much foreign exchange did your state declare it made last year? Or there’s is just to collect Federal Allocation every month to pay salary & loyalist, then the remainder to build sub standard roads?
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 4:20pm On Sep 03, 2021
ogododo:

Tufiakwa! No dey possible, God go shovel am aside.

It doesn't look to me like the Fulanis are planning to relinquish power in 2023 though.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:24pm On Sep 03, 2021
TripleOh7:


It doesn't look to me like the Fulanis are planning to relinquish power in 2023 though.
Tell that to pdp, APC is going South.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 4:25pm On Sep 03, 2021
Buckeyemedia1:
Tell that to pdp.

I'd rather avoid the lot. They all make my skin crawl.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:27pm On Sep 03, 2021
TripleOh7:


I'd rather avoid the lot. They all make my skin crawl.
Only political infants don’t know that a Christian Southerner is the next President of Nigeria, if pdp likes let them choose to Fulanis Atiku, & Tambuwal as President & Vice President, they would be soundly defeated. Legally & Rigally.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 4:28pm On Sep 03, 2021
Buckeyemedia1:
Only political infants don’t know that a Christian Southerner is the next President of Nigeria

I'm not concerned about what will happen in Nigeria.

My only concern is how Yorubas can be excised out of Nigeria.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Buckeyemedia1: 4:30pm On Sep 03, 2021
TripleOh7:


I'm not concerned about what will happen in Nigeria.

My only concern is how Yorubas can be excised out of Nigeria .
Sorry don’t think that is possible, you are better off planning how you can leave Nigeria to another country.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by chijokz(m): 4:31pm On Sep 03, 2021
angelfallz:
Apart from Buhari's incompetence, I strongly believe there are some people deliberately pushing the naira down and making money while at it.
Here are my reasons.
1. Unfavorable CBN FX policies.
2. Oil prices
3. We're import heavy with little exports.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Comedian2019: 4:31pm On Sep 03, 2021
Buckeyemedia1:
Bigoted summary @ best, Dangote has done for Nigeria, what no man in your tribe has done, so give credit where credit is due. How much foreign exchange did your state declare it made last year? Or there’s is just to collect Federal Allocation every month to pay salary & loyalist, then the remainder to build sub standard roads?
Dear Mr Economist,
Have you asked yourself why your refineries will never work despite billions spent on it?
Is it your state government that's responsible for that?
Is it Emefiele?
Do you know the effect of continuous importation of finished petroleum products on the Naira?

States have their own issues anyway. The major ones lie with the Federal.

2 Likes

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