raumdeuter:



Another corper girl who was also teaching Maths like me. I used to help her with her lesson notes so she will just enter class to write notes on the board

One day it got to 203/10. She just used the zero behind 10 to cut the zero between 2 and 3 and her answer was 23

She is a graduate of Business Admin from a University in the South.

Olowunl01:

Oga oo, well sha people are different, cos not everything should make it to social media, the father could have jejely done his research and if true put the foolish pastor mercifully in a wheelchair for the rest of his life, to unalive would be doing him and his family a favour.

Amigoss:
As APC nor find am anything,Tony Kabaka enter studio ,Asari Dokubo next

https://twitter.com/etinosirrr/status/1722931792624115975?t=PuDxO4Dv6AG8MMBsZsP3ZA&s=19

DeadPresidents:
Ramdeuter running mentorship and educational facilitation programs for able, willing but intellectually motile babes
Bro said na notes him dey copy

Roland17:


Hmmmmm....Tell us more about this sir...

raumdeuter:


Na afrodoc get that space

He lectures them In-towtow

DeadPresidents:


We know all those Lamba. All of una wey sabi book for Uni dey use that avenue collect all the babes back then. E get one of my guy wey use Engineering Drawing finish work for class that year for babes wey no sabi anything

OasisX:


.........................Case closed. LOL!

User09:
Been too busy to come back to the earlier post and now I'm shocked seeing the amount of likes and shares on it.

This tells me 2 things; Perhaps, people just dont understand or have clarity on what is been debated - and this includes the Lord guy

or People are neck deep in their agenda and just want the false propaganda to be true.

I'll now give clarity and proper explanation for the first set of people and those who possibly want to gain a proper understanding of the market and what's been going on.

The market signaling being spoken of is the sale of USD to the BDC at a perceived lower rate - I say perceived, cos remember that this low rate being chosen was also determined by the market interactions - albeit the lowest one. Now the market has reacted to such signals just like how it would in any free market economy. Think about it, even in any supply shop or market, if theres any sentiment of price drop, Wouldnt other sellers act accordingly?. Its the same reason we had that whole discussion few days back about retailers abusing their powers. This isnt the case here with the Fx market

Now pay attention here; CBN has not intervened in the dominant market - NAFEM and in terms of supply and demand and liquidity, NAFEM is still the market to go.

To put this in context, the total sales by CBN so far to BDC's this year is around $60m. Now compare this to the volume being traded/turnover in NAFEM for just Q1 which is around $13 billion. Now tell me exactly how CBN is pegging the rate or how a 60 million would have any impact in such a market ( Recall I asked the Lord guy to do the numbers earlier and he bailed). Even with the velocity of money being accounted for, this 60m cant have the significant impact being discussed

Infact the major FX inflow so far has been from foreign remittances, which is why I was baiting the LORD guy when he kept saying the drop in CBN reserves was as a result of CBN intervention. Luckily for him, he didnt continue the conversation. There's still no evidence so far of any CBN’s sale or intervention in the NAFEM windows, so maybe you can ease off on the pegging noise and depletion of reserves

Now all of this are based on market data and the little transparency so far from the CBN and like I have mentioned in the past, it is still a short to mid-term win. Some of us in the market are still watching.

Now if you feel otherwise and feel strongly about the opposite. Maybe you can share your priviledged data with me or maybe even short the Naira and put your money where your mouth is like the Americans will say. I have attached the current FX futures quote to make it easy for you.

DeadPresidents:
Raumdeuter running mentorship and educational facilitation programs for able, willing but intellectually motile babes

Bro said na notes him dey copy

OasisX:


.........................Case closed. LOL!

afrodoc2:


Just as i expected/predicted.

God has done it again.

But why is her shirt saying Nautical instead of Nautica?

joseph1832:
according to Jesus "let he who is without sin, cast the first stone". Lol.

Nigerians nearly roast this pastor as if dem no dey make mistake.

Ibime:


Quote THE LORD guy directly or mention his name LordAdam16

You too dey do fear fear, you get illness or social hangup?

Why write epistle ontop his matter but addressed at us. Do we look like jurors?

Anyway, I am convinced by your argument on volume and your points are solid.

LordAdam16:
@User09

If my use of the term "pegging" triggers you, get a stress ball or a fidget spinner.
I will not stop using it.

This is PUNCH referencing an industry source who drew attention to the CBN selling $300m to banks in February.
https://punchng.com/cbn-sells-over-300m-to-banks-as-naira-gains

This is the state of our reserves as of Friday the 12th.
https://cbn.gov.ng/IntOps/Reserve.asp


The Americans say "if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck".

Cardi B should continue pegging the rate and depleting the reserve to prop up the naira.
His chickens will come home to roost.

-Lord

User09:


Again I have said it or referenced it in my post. If you wanna be headstrong and keep saying the same thing despite no evidence, then by all means continue.

I will say it again, There is no evidence of any intervention in the market by CBN and I still dont know why you keep looking at the drop in reserves despite no known association so far.

You keep looking at news articles without a fundamental understanding of the market. I'll help you just this one time cos i'm getting bored with you regurgitating the same tosh. 2 reasons why the reserves are going down.

1. Debt Repayments - Most of them fell due in the referenced period

2. (Forward) Contracts which are also falling due and being repaid .

You see how easy it is to conduct research and not just take the lazy approach by looking at the reserves data and tying it to the drop in exchange rate.

Itsrm:


They will never be open about it. The BM is not just moving the NAFEM by market signaling, I strongly suspect they are still the largest supplier of FX at the NAFEM window at any rate they want but then, like you said I have no evidence. CBN has said they are floating the currency, they will die on that hill.

It's the same with NNPC. They will never publicly admitting to paying subsidy. And you'll never have any evidence to prove otherwise.

User09:


Again I have said it or referenced it in my post. If you wanna be headstrong and keep saying the same thing despite no evidence, then by all means continue.

I will say it again, There is no evidence of any intervention in the market by CBN and I still dont know why you keep looking at the drop in reserves despite no known association so far.

You keep looking at news articles without a fundamental understanding of the market. I'll help you just this one time cos i'm getting bored with you regurgitating the same tosh. 2 reasons why the reserves are going down.

1. Debt Repayments - Most of them fell due in the referenced period

2. (Forward) Contracts which are also falling due and being repaid .

You see how easy it is to conduct research and not just take the lazy approach by looking at the reserves data and tying it to the drop in exchange rate.

User09:


Again I have said it or referenced it in my post. If you wanna be headstrong and keep saying the same thing despite no evidence, then by all means continue.

I will say it again, There is no evidence of any intervention in the market by CBN and I still dont know why you keep looking at the drop in reserves despite no known association so far.

You keep looking at news articles without a fundamental understanding of the market. I'll help you just this one time cos i'm getting bored with you regurgitating the same tosh. 2 major reasons why the reserves are going down.

1. Debt Repayments - Most of them fell due in the referenced period

2. (Forward) Contracts which are also falling due and being repaid .

You see how easy it is to conduct research and not just take the lazy approach by looking at the reserves data and tying it to the drop in exchange rate.

Olowunl01:


I am enjoying this exchange, please don't be discouraged.

As someone whose understanding of economics is low, what I am getting from your stance is that @LordAdam16 usage of the term pegging is inaccurate as what is happening is market signalling which is norm for central bankers e.g Feds, BoE does when it comes to interest rates.

Now where I am lost is the suggestion that FDI or Foreign Remittance is the key reason for Naira gaining, do you have any chart or figures of last 3months to support this?

I ask this cos @LordAdam16 opinion of CBN defending the Naira seems very plausible, whilst it might not be responsible for the full amount of decline in our foreign reserve, as all it has to do in signal the rate it is able to sell USD, such signal creates sentiment of intention and you really have to have big pockets to bet against these sentiment.

Overall - would seem you guys agree that this is not sustainable? Have you considered the effect of the refineries coming on stream reducing our FX demands? Escalations in the middle east leading to increase in oil prices our biggest FX earner?

monerozi5590:



CBN has been intervening in the forex market na. I don't understand this your point by saying there's no evidence of CBN intervening in the market.


Here is Rotus explanation. Nigeria borrowed huge amount of dollars in selling bonds to defend the Naira and this is currently what's happening in the market.


https://www.youtube.com/watch?v=i_yH7B7zRyw?si=fXFje58hdelah6Sh

“If you are not aware, kindly note that the CBN last week sold over $200m to the banks below N1,500/dollar. Similarly, this week, the CBN has on two consecutive days sold FX to banks at rates we understand to be in the $1,450 range. We hope this information helps guide your decisions regarding the rates and spreads you get from your banks.”

LordAdam16:


You keep repeating this fallacy that CBN does not intervene directly in the NAFEM.
Maybe you can't read.

Here it is in black and white:


Culled from punchng.com/cbn-sells-over-300m-to-banks-as-naira-gains

I have provided proof that the reserves are declining following CBN renewed vigor in pegging the rate.

Now provide proof that debt repayment and forward contract payments are responsible for the almost net -$2B in the decline of the reserves in 3 weeks.

-Lord

User09:


Look it'll be better to ask questions rather than sink deep in your ignorance.

I have had most of the answers to your questions if you noticed but I've just been baiting you from the onset and you keep sinking while trying to lord off your " ignorance"

Are you even aware there's something called interbank markets??. I should help you with a basic research when I can just look at reserves data and pontificate like you