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Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo - Politics (3) - Nairaland

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Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by SK1SOLA: 2:27am On Oct 28, 2022
Due to lack of transparency and awearness, No wonder a governor was accusing cbn of printing more more,
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by sholatech(m): 2:37am On Oct 28, 2022
Using Nigerian Naira cards for cash withdrawal outside the country no longer possible
darediamond:

May God Bless You For This Eye-opening Question Which I Will Reply To As : Borderless Currencies Arbitrage Or Exchange.

But it is not a Business but rather A WAR EVERY NIGERIAN YOUTH FROM THE S.W, S.E and S. S must start Rigth now.

What you will be doing is to Take Naira in whatever amount you can afford out of Nigeria to Neighboring African countries like Cameroon if you are from the East and South South and or Benin Republic if you are from Southwest. But you can use others as Buffer too. Now on getting to your prefered west African country, change the naira to local currency as in Naira to Cefa, then from Cefa to Dollars using Mobile Wallet or Traditional Bank.

United Bank Of Africa and Eco Bank Of Nigeria are nearly in all West African and East African Nations.

You can simply as well deposit Naira in your Nigeria domiciled bank account and use your Atm card to withdraw AT THE BORDER, in local currency thereby buying the foreign currency at BANK RATES.

For further clarifications 0seven060five seven 8569 is available to you.

2 Likes

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Emilo(m): 2:59am On Oct 28, 2022
iiifedimma:
Good evening please anywhere you see this type of comments please don't mind this fraudster he is a well known fraudster here on Nairaland creating a new account every day to keep scamming people here on Nairaland, it's a guy that is behind the account using it for a scamming business

Please someone should help me, have been pleading for little assistance so I can eat but no help and I have ulcer now am very sick and I can't afford to buy drugs or even to eat. please no matter how small please help me so I can buy some medicine and if it is to eat please. May God almighty bless you in Jesus name Account num:

Please don't even send even a penny to this unfortunate man please anything you send to him nah to drinks and catch fun with it

Thanks for this info. Was thinking that the begging was getting too much!

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by RepoMan007: 3:24am On Oct 28, 2022
We have wholly embraced witchcraft economic policies as against a robust production based one.
We choose to manipulate money flow instead working towards overwhelming demand with supply.

2 Likes

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by sharone21(f): 3:36am On Oct 28, 2022
No matter if u were previously a genius, once u join APC government, one becomes a dunce.

What Nigerians need now( economically) are saving the Naira from devaluation, easy access to forex by cash and via all cards( Naira and Dollar card), easily able to use cards abroad, easy transfers outside Naija eg Western Union etc, curbing inflation....

Rather, CBN governor is busy speaking grammar, trying to redesign the Naira, preaching e- Naira that we are already into( the only thing is to make sure shop owners, petty traders have POS payment system to accept cards which transfers money into their accounts).

So far the worst CBN governor just because of greed and to please his bosses, he prefers this to a good name that will stay forever
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by sharone21(f): 3:42am On Oct 28, 2022
darediamond:

May God Bless You For This Eye-opening Question Which I Will Reply To As : Borderless Currencies Arbitrage Or Exchange.

But it is not a Business but rather A WAR EVERY NIGERIAN YOUTH FROM THE S.W, S.E and S. S must start Rigth now.

What you will be doing is to Take Naira in whatever amount you can afford out of Nigeria to Neighboring African countries like Cameroon if you are from the East and South South and or Benin Republic if you are from Southwest. But you can use others as Buffer too. Now on getting to your prefered west African country, change the naira to local currency as in Naira to Cefa, then from Cefa to Dollars using Mobile Wallet or Traditional Bank.

United Bank Of Africa and Eco Bank Of Nigeria are nearly in all West African and East African Nations.

You can simply as well deposit Naira in your Nigeria domiciled bank account and use your Atm card to withdraw AT THE BORDER, in local currency thereby buying the foreign currency at BANK RATES.

For further clarifications 0seven060five seven 8569 is available to you.

Cameroon cfa to dollar is similar to our N750 for $1.

1000cfa=1015 or 1020 Naira

2 Likes

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by DreamersVille24(m): 4:27am On Oct 28, 2022
Winning123:
Yeye economist. Theoretical economist. Always analysing one way. What about the impact on security, those bandits, kidnappers and terrorist holding large swatch of money

And you think they'd walk into a bank to deposit these "large swatch of money"?

You sound like a simpleton.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by racerve(m): 4:37am On Oct 28, 2022
Confused people.

How can "money stacking" be contributing to inflation? If people are stacking money, by definition they aren't spending it, so that money is out of circulation.

Besides this is 2022. The only people keeping naira notes outside the banking system are low-income, low-literacy individuals residing in geographically inaccessible areas. Whatever they're stuffing in their mattresses is insignificant.

When a government is clueless, they start trying out random ideas to see what sticks. This is no way to run a country.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by hkunle71(m): 4:47am On Oct 28, 2022
What a clueless, inept and incompetent government with misplaced priorities.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by pat077: 5:00am On Oct 28, 2022
Winning123:
Yeye economist. Theoretical economist. Always analysing one way. What about the impact on security, those bandits, kidnappers and terrorist holding large swatch of money
so, how are you going to stop them from changing it to foreign currency?
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by DesChyko: 5:09am On Oct 28, 2022
Brendaniel:
That's why we need a competent leader as president, a president who is not greedy and ready to serve...

Vote Wisely

You ruined your plan by adding Vote Wisely grin

Wisdom can only lead you to ObiDatti2023.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Nobody: 5:28am On Oct 28, 2022
tnerro1:
What is to stop politicians from hoarding the new notes once they are out? This is election year and the politicians need money to rig the elections. The politicians will just wait till December when the new notes come out and start hoarding it from there
mark my word, the new notes will not be out until after election, CBN will keep shifting the deadline just as Isa pantami did with NIN SIM linkage.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Nobody: 5:35am On Oct 28, 2022
DreamersVille24:


And you think they'd walk into a bank to deposit these "large swatch of money"?

You sound like a simpleton.
And if you think these terrorists, bandits and kidnappers doesn't know about this CBN policy months before it was made public then u are not following the trends properly.

Also note that financiers of these terrorism and banditry are also in top government position, some are in bureau de change, the system is corrupt... the elites and politicians will still change their monies without going to the bank.

This policy will only affect the common man.

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by saintadeola: 5:40am On Oct 28, 2022
To me,it’s political,it’s because of election,they don’t want others to put spend them,Apc have there plan,it’s easy for them to be in control as soon as they implement the plan
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by LOVEGINO(m): 5:40am On Oct 28, 2022
Dreamsworld:

Perhaps they have other reasons why they want to do it that they don't want to disclose
na confirm business. They just give person contract for printing.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Nobody: 5:40am On Oct 28, 2022
Just know that the real reason CBN decided to change the naira is because of 2023 election.

They want to ensure a level playing field for all parties involved... they know APC and PDP will resort to vote buying. Unlike the Labour Party.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by JaskanFactor: 5:42am On Oct 28, 2022
CBN complaining about the people stacking large amounts of naira in their storage, causing shortage of cash.

My question is this, who is ignorant enough about naira to be stacking this naira , a currency that is so uselessly subject to inflation its value is dropping like a stone, hoarding naira in your house is like burning money.

I cannot imagine there is any adult in Nigeria who keeps their savings in naira., at least i hope not.

All the politicians store their money in foreign currency or buy houses and cars to store value, so who is CBN talking about that is burning thier money by hoarding that useless inflation currency called naira..

Unfortunately as of the last few months same thing is happening to all currencies with this world wide inflation. But naira is still one of the worst.

Anybody who knows how to do technical chart analysis on naira vs any foreign currency can easily see Naira performance is so bad , the Nigerian government should be arrested for making it legal tender. But we know its the Europeans who own Nigeria that are behind the naira in their efforts to keep us poor and depopulated.

Its like a car company selling cars that dont last past one tank refill, and its been allowed to stay in business since 1960.

Naira = European theft from Africans.

1 Like 1 Share

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by ekevwe(m): 5:44am On Oct 28, 2022
Racoon:
Aggressive spending, worsening FX crisis’ - how CBN’s naira redesign will affect economy

https://www.thecable.ng/money-supply-naira-value-how-cbns-naira-redesign-will-affect-nigerias-economy/amp


In Nigeria, government officials in offices like creating avenue to steal money.

The cost of changing 1trilion nair could be over 200 billion.

200 billion can be use to set up a good projects that will generate good amount of money for the economy to grow.

In sane countries that the inflation rate is getting higher, CBN governor would have resign
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by byteem: 6:36am On Oct 28, 2022
aklion:
Everybody wan cashout before them leave office...

I swear
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by MtDave55: 6:47am On Oct 28, 2022
The government is doing everything in favor of BAThing, by 31 January he must have moved significant amount of the money in his bullion vans.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by orisa37: 8:02am On Oct 28, 2022
NIGERIA IS BURNING.
BUHARI IS THE AUTHOR.
EMEFIELE IS CONFUSED.
OBASEKI AND AMAECHI ARE THE HEROES OF OUR TIME.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by orisa37: 8:07am On Oct 28, 2022
BUHARI AND EMEFIELE ARE INCINERATING NIGERIA FAST.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by orisa37: 8:16am On Oct 28, 2022
THE NASS SHOULD STOP EMEFIELE'S CURRENT CURRENCIES REDESIGN MOVES.
NIGERIA IS NOT AT WAR WITH HERSELF.
SO CHANGES IN THE NAIRA SHOULD BE LEFT TO INCOMING GOVERNMENT.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by adonisuwa(m): 8:36am On Oct 28, 2022
DirtyGold:
The story above is not my business.

All I know is that I need a million billion dollars urgently right now! cool cool cool ...any ideas?

What's tha business?
$1,000,000
�Just copy am go your bank account. na you own grin grin

1 Like

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by Brendaniel: 8:52am On Oct 28, 2022
DesChyko:


You ruined your plan by adding Vote Wisely grin

Wisdom can only lead you to ObiDatti2023.

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by DesChyko: 9:13am On Oct 28, 2022
Brendaniel:
...

Anyone can fire up Microsoft word and type whatever he likes.

Not many can summon bullion vans on election eve with electorates waiting outside for .....

Not many except (someone who I'm not sure what his real name is yet)

Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by darediamond(m): 8:14pm On Oct 28, 2022
sholatech:
Using Nigerian Naira cards for cash withdrawal outside the country no longer possible
It is still on.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by darediamond(m): 11:44am On Oct 29, 2022
sharone21:


Cameroon cfa to dollar is similar to our N750 for $1.

1000cfa=1015 or 1020 Naira
This is not Bank Rate.
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by bizzibodi(m): 2:40pm On Oct 31, 2022
Mark my word,naira will go to #1000 to $1 do to this useless policy....I prefer to hold all my money in dollars....new naira notes my foot!
Re: Aggressive Spending, Worsening FX Crisis" - How Naira Redesign Will Affect Econo by chidiogo123(f): 7:47pm On Nov 22, 2022
racerve:
Confused people.

How can "money stacking" be contributing to inflation? If people are stacking money, by definition they aren't spending it, so that money is out of circulation.

Besides this is 2022. The only people keeping naira notes outside the banking system are low-income, low-literacy individuals residing in geographically inaccessible areas. Whatever they're stuffing in their mattresses is insignificant.

When a government is clueless, they start trying out random ideas to see what sticks. This is no way to run a country.
chat me on WhatsApp on my signature. Have similar Dell's available for your budget. USA used.

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