Ddworld:


Blinded rats. Is this the issue of been unpatriotic or a weak economy? Nigeria is a goner if a primary student should think like yours. It is either you are extremely daft or just a born folly.

Did you know the rate as of this morning?

If you’re part of the unpatriotic elements buying up dollars to weaken the Naira, your loss has just started. You all will lose and disgraced. Nigeria shall overcome all you unpatriotic economic scoundrels.

All of these boils down to patriotism, some people have lost faith in Nigeria and the naira. We see people promoting saving in dollar ,preaching fall for the naira.
But the CBN governor is doing a good job . Kudos

Penguin2:


Your point is clear and understood.

Until Nigeria increases its production capacity which will increase its export volume and consequently increase the FX it earns, the problem of dollar exchanging at exorbitant rates against the naira will not be solved.

But there’s a factor you are overlooking which is what CBN is trying to tackle. That factor is maliciousness of some people and FX marketers who either hoard the dollar or engage in the sabotage that further increases the stress on the naira.

Or are you going to rule that out?

Nigeria doesn't even import much outside refined crude oil. Do you know that 70% of our imports is refined crude oil? And the remaining 30% is other products.

By the time we start refining our oil, I see Dollar at 250, if only the government can sustain the clampdown on speculators both offline (BDC) and online (crypto arbitrageurs and P2P); the players mentioned cause artificial exchange rates.

Fake news! Its 920.

Imagine celebrating 720 exchange rate as a rebound? Same exchange which was 500 earlier in the year. You've become so pitifully stoic that you can stomach the shit you ate fed with and wash it down with urine.

720 is not a rebound.

Peterobi90:
The moment pictures of the new designed naira is released, dollar might get as low as 500..

500 is not low abeg, 150 is lower than 500.

This is the effects of Buhari economics.

Viscuz:


Naira is now useless you can argue or blame any third party you like .

It is DEAD !!!

Why is this your prayers? What do stand to gain in all of these?

Acidosis:


They are not f00ls. The Naira redesign is still useless to the FX market.

Forex exchange is not Ponzi scheme. A productive economy is the only way to achieve a sustainable Fx rate. There is NO other way.

So if nothing has happened to our productive capacity and earning power, any gain you see now at the street market is only a reaction to market uncertainties.

Moreover, we are approaching the Christmas era where Nigeria traditionally earn the highest remittances from Nigerians abroad.

Finally, the Naira has not gained at the official window yet so even that remittance thing is debatable. Any gain or loss you see now at the street market is part of the reaction to the uncertainty that surrounds the CBN announcement. It is not sustainable.

Don't forget Biden also announced that dollars printed after a certain time will become useless

Realist12:
All of these boils down to patriotism, some people have lost faith in Nigeria and the naira. We see people promoting saving in dollar ,preaching fall for the naira.
But the CBN governor is doing a good job . Kudos

People stop being patriotic to the nation when the government starts to cheat them.
Eg, government officials having uncountable allowances, or travelling overseas for medical treatment, or using foreign goods instead of local ones.
These are the things that piss the people off.
As you can see then, it has been very long people stopped being patriotic.

Ddworld:


So, where will CBN gets the dollar? Apply for the 100 USD at your bank and let me know if your bank gave it to you and how many weeks or months it was approved?

U can go and get urs from aboki, we nigwlike doing things the wrong way, with valid documents you'll get dollars from bank

tamdun:

U can go and get urs from aboki, we nigwlike doing things the wrong way, with valid documents you'll get dollars from bank

But people get this dollars from bank and still give aboki to sell for them again.

pquaver:


Don't forget Biden also announced that dollars printed after a certain time will become useless

This has been debunked.

Nteogwuija:


This has been debunked.

OK thanks for the info

pquaver:


Don't forget Biden also announced that dollars printed after a certain time will become useless

It is FAKE news.

No educated person should believe such.

It will still get back up to 1000/$ in the long term because there's nothing our govt. is currently doing fundamentally to stop this from happening. It's just a matter of time...

PJ123:


Why is this your prayers? What do stand to gain in all of these?

And who told you it's my prayer.

Why do you guys shy away from the truth ?

You see white and call it black .

Naira is dead hold your leadership accountable and stop thinking everything is spiritual

Peterobi90:
The moment pictures of the new designed naira is released, dollar might get as low as 500..

Why will it get low?

I need logical analysis pls

Viscuz:


And who told you it's my prayer.

Why do you guys shy away from the truth ?

You see white and call it black .

Naira is dead hold your leadership accountable and stop thinking everything is spiritual

prayer or not, me i sha want it to drop, and I believe it will (I didn't expect it this soon anyway), cos it's in my/our best interest for it to drop, and keep dropping anywhich way. All this story I don't understand, cos a situation is bad doesn't mean we should all decide to lose hope and burn a house down with us in it.

tamdun:

U can go and get urs from aboki, we nigwlike doing things the wrong way, with valid documents you'll get dollars from bank

Obviously, you've never applied for usd before. I am 100% sure YOU have NEVER in your life done that.

Good luck

ALTERNATEID:


If you’re part of the unpatriotic elements buying up dollars to weaken the Naira, your loss has just started. You all will lose and disgraced. Nigeria shall overcome all you unpatriotic economic scoundrels.

Was that the reason why the Naira is weakened. So sad you don't know a thing. I won't blame the government if her citizens don't even understand the concept. Good luck

Treadway:
prayer or not, me i sha want it to drop, and I believe it will (I didn't expect it this soon anyway), cos it's in my/our best interest for it to drop, and keep dropping anywhich way. All this story I don't understand, cos a situation is bad doesn't mean we should all decide to lose hope and burn a house down with us in it.

U type like someone educated now use that same education t do research.

Your government didn't do jack shit .

The fall was in the free market dollar is falling against all currency since yesterday.

I know Nigerian propaganda government will take credit for it

BannedUser:
It will still get back up to 1000/$ in the long term because there's nothing our govt. is currently doing fundamentally to stop this from happening. It's just a matter of time...

this sharp drop points clearly to the fact that despite the useless govt and it's inefficiencies, the sharp jump was manipulated. 200ngn drop in 24hrs with no economics is significant proof of this. I was actually hoping that maybe post election, after the japa wave also may have reduced a bit due to pple wey wan cut-out wey go don cut-out Dec, Jan especially. The japa wave is also a major reason it is high with too many ppl scrambling for few dollars all at once. The entire japa process is largely done with forex and the demand is too high. I didn't expect it to come down this fast at all. Someone told me yday face to face and I just waved it off as a rumour or something, cos that drop was too much.

tamdun:
Continue fooling yourself, u guys will come online and start giving us aboki exchange rate, na d govt I blame, thay have to ban BDC,
CBN 1 dollar =440 naira
BDC 1 dollar =900
Ur choice

But the CBN rate is only available to the government cronies

You can't walk into any bank with 440k and walk out with a thousand dollar

adioolayi:


https://punchng.com/traders-lose-as-naira-rebounds-to-720-dollar/

The redesign is a good policy as it exposed the corruption of our politicians. They are very greedy and outright wicked. If you see how some of them hoarded billions of naira in rooms as seek in videos, you will weep.

quentin06:
Fake news! Its 920.

no na u dey spread fake news

I need to buy and keep dollars now bfor it goes up again

Penguin2:
Where are the idiots who were arguing with me that the Naira redesign is useless?

which naira design?....Dollar fell globally against all currencies yesterday due to a drop in USA consumer price index


the immediate effect of the redesigning of naira was a significant depreciation of the naira to an all time lowest point.

let your ignorance not give credit to APC or CBN where it is not due

This was as. Result of some crypto saga
. It has nothing to do with cbn

Penguin2:
Where are the idiots who were arguing with me that the Naira redesign is useless?

Oya make them begin to show their face make we know our enemies in this country them