masseratti:
you guys simply do not understand what "floating currency" means.. It's simply means there is no more government "official" rates anymore. Everything is now market rate... Black market, white market any color market.. Banks will be selling dollars same rates it's been sold by aboki.. You can walk into a bank now and sell your dollars same rates with what aboki is buying from you.. No need for CBN to flush the market to BDCs or Banks at Government official rates again, CBN will now be selling at market rates to banks simply and straight forward.

And will the dollars be readily available?
Is dollar our currency?
It's because big influential people store dollars, that's what usually make dollars scarce in the first place.
So, definitely sooner or later, the dollar won't be enough to cater for Nigerians who needs it, which will lead to another black market.

Some of you might have seen a East African video going round asking why Africans cannot trade with one another in local currencies.

If you want to buy goods and services in Nigeria for example, exchange and trade with one another without American and European currencies to make local currency strong.

Of course, it is not all but we can make it a significant part of our trade. Our basic needs like food, shelter and paying for families are in local currency.

There used to be a time when foreign currencies were illegal. Special permission was needed for travel. Dr. Shodipo and FELA were jailed for violations.

People actually paid to make our pound one for one. Now that the exchange rate has been destroyed, we are all paying

googi:
If you are Yoruba, nobody trained you that way, over honest opinions.

I am a full blooded Yoruba and will never abuse a person to make my assertions. You can disagree with me without abuse....since some genz can't have any meaningful conversation without bullying and abuse, let's roll.

oyetpel:


And will the dollars be readily available?
Is dollar our currency?
It's because big influential people store dollars, that's what usually make dollars scarce in the first place.
So, definitely sooner or later, the dollar won't be enough to cater for Nigerians who needs it, which will lead to another black market.

no business man store dollars at home like they stored naira,it's not a legal tender in Nigeria, hence they use it for business transactions, what's common man's business with dollars? There can not be any black market again because it's the rate they use at the black market they will also use in the bank.
Plus yes the dollars will be available because it's now on its true value, improving our own production for export is the next thing government should focus on now..and everyone will smile..
Two windows for FX is a fraud and its services some few people against the rest.

The problem with many privileged foreign money millionaires is that they never have enough. Always looking for the next opportunity to launder.

If they are willing to risk jail laundering money overseas, there is nothing they wont do.

How hard is it to understand that Nigeria does not print foreign currencies and can never satisfy legitimate and illegitimate avarice.

Even real business and international corporation that have all the materials they need in Nigeria still apply for forex. Including those that source sugar and water!

oyetpel:


And will the dollars be readily available?
Is dollar our currency?
It's because big influential people store dollars, that's what usually make dollars scarce in the first place.
So, definitely sooner or later, the dollar won't be enough to cater for Nigerians who needs it, which will lead to another black market.

One of the champions of Structural Adjustment. Actually, no need to reply you but some people may benefit.

He wants scholarly article to back me up, abi? Those scholars that brought Nigeria down to this point backing Structural Adjustment!

So you do not know that capitalism, socialism and communism are economic theories? Ndo, so na you ai dey argue with.

Come up with a list of countries that escape poverty by trading with it's neighbors?

See me see trouble o. You have never heard about European Economic Union, Canada/America/Mexico Free Trade or Asian Pacific?

Na only God go save us from these educated people o.

Let me bring you closer to a country you may be familiar with. You ever heard of Nigeria?

Nigeria traded and fed most of West Africa and beyond. People come and bought Nigerian pounds one to one and later naira at one and a half American dollars. Nigerian pound and naira we're sold overseas, including London. The Nigerian Government had to punish naira exporters.

Actually, Nigerian Government had to change naira. Some of the privileged Nigerians smuggled naira back home. Your Presidential candidate Atiku as a custom officer tried to stop one of them at the Airport until order came from Oga at the top.

My educated scholar, that is just one country that prospered by trading with it's neighbors.

Capish?

ivolt:


From your topic, I had assumed I will be reading scholarly article on economics of floating exchange.
But I was disappointed, you are appear to be one of those who believes that pan-Africanism and emotional
appeal is an economic theory.
Please tell, what is the benefit of selling crude oil to South Africa over selling it to China?


Before you reply, go and do your research and come up with a list of countries that has escaped poverty by
just trading with its neighbor.
.

googi:
One of the champions of Structural Adjustment. Actually, no need to reply you but some people may benefit.

He wants scholarly article to back me up, abi? Those scholars that brought Nigeria down to this point backing Structural Adjustment!

So you do not know that capitalism, socialism and communism are economic theories? Ndo, so na you ai dey argue with.

Come up with a list of countries that escape poverty by trading with it's neighbors?

See me see trouble o. You have never heard about European Economic Union, Canada/America/Mexico Free Trade or Asian Pacific?

Na only God go save us from these educated people o.

Let me bring you closer to a country you may be familiar with. You ever heard of Nigeria?

Nigeria traded and fed most of West Africa and beyond. People come and bought Nigerian pounds one to one and later naira at one and a half American dollars. Nigerian pound and naira we're sold overseas, including London. The Nigerian Government had to punish naira exporters.

Actually, Nigerian Government had to change naira. Some of the privileged Nigerians smuggled naira back home. Your Presidential candidate Atiku as a custom officer tried to stop one of them at the Airport until order came from Oga at the top.

My educated scholar, that is just one country that prospered by trading with it's neighbors.

Capish?

I stumbled upon this post and I cry
See were we are today, even the zombies that are supporting this have all disappeared

We are in big trouble in this country

Jcoleworld911:




I stumbled upon this post and I cry
See were we are today, even the zombies that are supporting this have all disappeared

We are in big trouble in this country

Nobody dey explain baba policy again 😄😄😄

Hunger don wire sense put for dere head