Read The Full Update Here:
https://reloaded.ng/its-a-plan-see-why-naira-is-dropping

Former CBN governor, Lamido Sanusi once talked about the possibility of making N1 billion naira in one day and he won't have to import or export anything.

Here's how he said he would do it...

Make a call, request a fast loan of $10 million at the rate of N300/$1

Dump the money on the black market and sell at black market prices. Making about N100 per dollar.

At the end he would about N4 billion naira cash and he can pay back the $10 million dollars at the official rate he borrowed it at.

Calculate the difference, he's made sweet N1 billion.

He didn't spill much , but Sanusi swore that the process won't take more than 12 hours and that a lot of Nigerian politicians do it from time to time to raise quick cash.

He also added that sometimes, these guys artificially deflate the value of naira so they can sell at higher prices and when they are done, they either abandon the naira at that price or manage to return it back to where it was.

Now you understand why you can just wake up and suddenly the naira will drop several times in one day.

�Manipulation.�

It's election year, these guys are doing everything to raise money. I can bet that something similar to what I described is responsible for the way the naira has fallen in the past 48 hours.

But of course they will hide it and distract you with nonsensical statistics and detractions.

They don't care... They really don't. The CBN governor knows what's going on, but rather than fight it, he takes it out on common citizens.

Solution: Work hard and offer your services in foreign currencies to people in regions with stronger purchasing power.

It's the last lap, the current crop of rulers are determined to grab as much as possible before they leave.

Things are about to get bloody.

https://reloaded.ng/its-a-plan-see-why-naira-is-dropping/

A

Poor planning, begets nose diving nation.

When politicians were buying all the dollars in the market to pay delegates, I warned about this. Thank God for my guy who advised me to start saving money in dollars. Whatever happens, a lion like me can never eat grass, I have God to thank for that though.

who so ever says that nigeria is import dependent nation is liar . go and verify our balance of trade . our exports outweigh the imports.
Nigeria is suffering from artificial manipulation of naira by the elites. supported by CBN. I wonder what it will take CBN to totally ban BDC activities in this country.

The way the foreign exchange market became the preserve of The Abokis in this country is simply stunning!

The way the rest of the citizen from different parts of the country, kept quiet and allowed this conscienceless rape to go unabated is simply nonplussing..

Nice analysis. Limit the amount of $$ cbn give out, limit spendings on dollars and the masses won't have option than to run to the black market.

Rugaria:
The way the foreign exchange market became the preserve of The Abokis in this country is simply stunning!

The way the rest of the citizen from different parts of the country, kept quiet and allowed this conscienceless rape to go unabated is simply nonplussing..

It's really sad. And the painful thing is, they're not the owners of the banks. But these guys can get loans in dollar, they aren't even importing anything but the people actively in the business, gets little or none

Pure plan,we know.

okeysoninv:
who so ever says that nigeria is import dependent nation is liar . go and verify our balance of trade . our exports outweigh the imports.
Nigeria is suffering from artificial manipulation of naira by the elites. supported by CBN. I wonder what it will take CBN to totally ban BDC activities in this country.

Our imports still exceed our exports for the past 7 years now. For 2021 our balance of trade stood at –$6 billion.
https://www.thecable.ng/nbs-nigerias-imports-exceeded-exports-by-n1-94trn-in-2021

Next year should come fast can't wait for Bubu to carry is load

SUPERPACK:
Our imports still exceed our exports for the past 7 years now. For 2021 our balance of trade stood at –$6 billion.
https://www.thecable.ng/nbs-nigerias-imports-exceeded-exports-by-n1-94trn-in-2021

get me the data for this year. exports outweigh our imports . it has always be like that since time immemorial. it was during the hit of covid that our exports was outweigh by imports. go and verify.