quentin06:
Its not his fault, the fact is the nations revenue has plummeted, there is a serious net balance of trade problem ( we are importing more and exporting very less) Also crude oil is being stolen and not exported for cash.

There is the excessive loans govts is borrowing and not using for what it was meant for.

Russia Ukraine no get hand in this, its just the cumulative effect of poor management of the nations resources by our so called leaders.

TheOldGods:
oga be calming down. Earning in dollars now is as useless as the naira. Because as dollars are going up, prices are also going up to the same price or even higher. Example a bread that was sold for 300 naira is now sold for 800 naira. Let's do the maths, you earn 100$ a month, and then you multiply it and it give you 70k, instead of the old 50k. That 20k increase, then you think you got more, but at 50k, that bread was sold for 350naira. So you are paying more at your 70k to get the bread. Unless you are earning over 5000$ every single month, that's the only way you can breakthrough

Brookdcook:
Vote APC 2023 for continuous assessment

TheOldGods:
oga be calming down. Earning in dollars now is as useless as the naira. Because as dollars are going up, prices are also going up to the same price or even higher. Example a bread that was sold for 300 naira is now sold for 800 naira. Let's do the maths, you earn 100$ a month, and then you multiply it and it give you 70k, instead of the old 50k. That 20k increase, then you think you got more, but at 50k, that bread was sold for 350naira. So you are paying more at your 70k to get the bread. Unless you are earning over 5000$ every single month, that's the only way you can breakthrough

maik99:


How did you verify?

Frairfrancis:



How do request payment back here

DroppingLiquid:
Savings for bank just lose value finish. I should have listen to myself and converted.

thebosstrevor1:


.

AntonVince:


Why did you delete the comment?

No wonder you're a Buhari supporter.
...like principal, like his lackeys.
Don't worry, while shopping for your groceries and other items, just tell the sellers you're a Muslim like Buhari and they'll subsidize things for you.

Cognitivereason:
lol....black market are running of of dollars....they have to charge more in naira to attract dollars and discourage those buying it in high demand...

the same thing is what the CBN is experiencing.. when there is low supply of USD to keep up with the needs of importers..they either devalue the naira or reduce the supply and push the importers to rush to Black market for USD who course will also increase the rate because of demand...

except you are ignorant of how FOREX is earned ..Emiefele is doing what any CBN governor would have done..in order for the country not to run out of forex..naira has to be devalued to bring in more dollars and keep up with the cost of importations..

the solution to this doesnt lie with the CBN to a large extent.. we just need to look at what is consuming our forex the most..that is petroleum products,.. we need refineries now more than ever to stabilize the rate...even Peter Obi can not solve this without refineries..this is not about looking at vietnam or eygpt.. Dangote should be given more support than he is receiving to finish his refinery..

if we start rehabilitating our old refineries..it will take us atleast 3 years to bring it to live and it still might not meet our needs..what we need now is to support those who have started theirs and are almost complete..(Dangote).

we need to end fuel and petrochemical imports now...these commodities swallows 30% of our foreign reserves

nedekid:

Keep finding excuses, same excuses that have been give over the past 7 years, but just 1 man can steal 80b and collect another 15b in bribes.
Politicians can spend hundreds of millions in usd at PDP and apc conventions.
Emefiele, Deji Tinubu and all the other elites can fly their families out in large size private jets to UK, France etc during endsars riots.

Ppp1p:
The worst cbn governor ever and the worst government in nigeria

Jonathan left $188

Now 700

Emefiele you have destroyed nigeria you are a clueless egoat

Cost of everything has gone up including pure water you knew our economy rely on importation of even smallest raw materiyet you kept devaluing the naira coz your so called political bosses have stacked of dollars stolen

Bizibi:
it is the excessive borrowing and crude oil that is the main problem....

cococandy:
Omg. How’s way?
It’s went down tremendously in the last couple of years.

VeryWickedMan:
AbokiFX has equalized in the 69th minute

Bizibi:
goods and services tripples Everytime the naira declines....the only advantage is for those who can purchase products with dollars online.

Look at the prices of goods and services in Nigeria anytime there is a decline in naira.take your time and check it.

ijustdey:


https://punchng.com/breaking-senate-to-invite-emefiele-over-naira-devaluation/

TheOldGods:
oga be calming down. Earning in dollars now is as useless as the naira. Because as dollars are going up, prices are also going up to the same price or even higher. Example a bread that was sold for 300 naira is now sold for 800 naira. Let's do the maths, you earn 100$ a month, and then you multiply it and it give you 70k, instead of the old 50k. That 20k increase, then you think you got more, but at 50k, that bread was sold for 350naira. So you are paying more at your 70k to get the bread. Unless you are earning over 5000$ every single month, that's the only way you can breakthrough

TOPCRUISE:
They should summon Osinbajo too.
We can still remember these deceptive slogan "Buhari will handle security Osinbajo will handle economy."

easiest:
He banned crypto to make naira valuable, he banned abokifx to make naira appreciate yet nothing work, can't you see the cbn governor is clueless right from onset.

SeaTrade:
It's like you're dangote hiding behind this moniker to cunningly draw forceful grant to your refinery.
Where will the refinery also get crude from to operate?
Is it not from here?
Don't you know this will further reduce our earnings as we will have lesser commodity to exchange in the place of forex?
If you take away 650,000bpd from Nigeria's current 1.4m bpd production,what will now be left?
Or will dangote now be buying from NNPC with dollars?
If he does this then what will it solve?
Simple solutions won't work in this case .

cRobo: