iCauseTrouble:
Una sha dey overhype this Tinubu with different fake news. Naira that I sold N765 per dollar few hours ago.

You sold naira or you bought dollars ?

LordAdam16:
Seun, the naked, continuous attempt to run interference for Tinubu's administration is nauseating.

Can you at least pretend to be fair or balanced?

There are topics referencing yesterday's drop from ~660 to ~770. You and your mods refused to move them to the FP.

Yet, three hours after the I&E window closed today, you're personally pushing a deliberately flawed narrative to whitewash a troubling development.

Tinubu met the rate at 460. The rate is currently 756. In only 3 weeks. Some would argue that is an early indictment of the so-called
Tinubunomics. But hell will freeze over before you draw attention to anything that remotely suggests that.

You are part of the nation's intelligentsia. Act like it. You're not some no-name blogger whose sole priority is to reel out political talking points for breadcrumbs.

-Lord

Bolded is a true and fair narrative? Or you're being unfair like the Seun you're purporting to address his unfairness? Or I'm the one being unfair by asking you these questions? Landers judge.

sukkot:
You sold naira or you bought dollars ?

Are these not the same thing? (just curious since you can't buy dollar without selling naira)...

LordAdam16:
Seun, the naked, continuous attempt to run interference for Tinubu's administration is nauseating.

Can you at least pretend to be fair or balanced?

There are topics referencing yesterday's drop from ~660 to ~770. You and your mods refused to move them to the FP.

Yet, three hours after the I&E window closed today, you're personally pushing a deliberately flawed narrative to whitewash a troubling development.

Tinubu met the rate at 460. The rate is currently 756. In only 3 weeks. Some would argue that is an early indictment of the so-called
Tinubunomics. But hell will freeze over before you draw attention to anything that remotely suggests that.

You are part of the nation's intelligentsia. Act like it. You're not some no-name blogger whose sole priority is to reel out political talking points for breadcrumbs.

-Lord

Goodnews they purge you, if e pain you, ho hang yourself

nextstep:


Are these not the same thing? (just curious since you can't buy dollar without selling naira)...

so if i buy bread and give them naira payment that means i am selling naira lol

Seun:
Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening.

You can check it here: https://fmdqgroup.com/exchange/

So we should be happy that naira is now 750 naira to a dollar? What nonsense.

abbey621:
This is normal, the exchange rate is still in a state of fluctuation until it finds balance. When all things fall into place and people no longer see the value of black market, J.P, Morgan predicts Naira should settle at or below 600 Naira per dollar, not good but certainly better than Buhari Shege Naira pro max

There are over 41 items that cannot access $$ through official channels. The black market will continue to have value.

didymario7:


There are over 41 items that cannot access $$ through official channels. The black market will continue to have value.

Yes but its value should not be comparable to the main market.....At a point the black market was doing more business than official market which is plain unacceptable!

sukkot:
so if i buy bread and give them naira payment that means i am selling naira lol

Yes, what else are you doing? You're not just giving, without an exchange (that would be gifting), you're selling what you have to get what you want, whether its bread or dollar. But I may be wrong in my understanding...

abbey621:


Yes but its value should not be comparable to the main market.....At a point the black market was doing more business than official market which is plain unacceptable!

Lies, big fat lies. The black market has never done anything close to the official channels. Bring your sources.

YoungLionken:


Don't generalize your limitation son. You don't have doesn't mean same for others. Work and pray against poverty, it's worse than HIV...

Fool, I'm contented with the little I have. I don't live a fake life like you're living.... slowpoke

abbey621:
This is normal, the exchange rate is still in a state of fluctuation until it finds balance. When all things fall into place and people no longer see the value of black market, J.P, Morgan predicts Naira should settle at or below 600 Naira per dollar, not good but certainly better than Buhari Shege Naira pro max

How is 600 better than 460

LordAdam16:
Seun, the naked, continuous attempt to run interference for Tinubu's administration is nauseating.

Can you at least pretend to be fair or balanced?

There are topics referencing yesterday's drop from ~660 to ~770. You and your mods refused to move them to the FP.

Yet, three hours after the I&E window closed today, you're personally pushing a deliberately flawed narrative to whitewash a troubling development.

Tinubu met the rate at 460. The rate is currently 756. In only 3 weeks. Some would argue that is an early indictment of the so-called
Tinubunomics. But hell will freeze over before you draw attention to anything that remotely suggests that.

You are part of the nation's intelligentsia. Act like it. You're not some no-name blogger whose sole priority is to reel out political talking points for breadcrumbs.

-Lord

no loud am o before they will call you Igbo and ipob

LordAdam16:
Seun, the naked, continuous attempt to run interference for Tinubu's administration is nauseating.

Can you at least pretend to be fair or balanced?

There are topics referencing yesterday's drop from ~660 to ~770. You and your mods refused to move them to the FP.

Yet, three hours after the I&E window closed today, you're personally pushing a deliberately flawed narrative to whitewash a troubling development.

Tinubu met the rate at 460. The rate is currently 756. In only 3 weeks. Some would argue that is an early indictment of the so-called
Tinubunomics. But hell will freeze over before you draw attention to anything that remotely suggests that.

You are part of the nation's intelligentsia. Act like it. You're not some no-name blogger whose sole priority is to reel out political talking points for breadcrumbs.

-Lord

Just imagine if Seun is an Igbo man and his posting this?
So anyone that doesn’t support the suffer the citizens are suffering now is an enemy to Mr President?

Agbegbaorogboye:

How is 600 better than 460

460 was artificial suppression, not the real value of Naira, this new rate reflects a stable market and allows less dependence on black market. The goal is to eventually allow the market to dictate most of the Naira's value instead of the government.

seborrhic:
Good.
Once it converges around the parallel rate,further improvement will be seen.
A good part of what made the parallel market rate high was the round tripping.People would buy from the banks through connections and sell to the black market or the banks would hoard the dollars they buy from the CBN at favourable rate,sell to abokis and make huge profits while claiming in forms they sold to businessmen.
Why would anyone now sell to abokis if u can source from the bank.
Abokis too would in losing market have to bring down their rates or they lose some patronage particularly when people know there are fraud and counterfeit risks involved in trading in the black market.

Even abokis would no longer be able to get it at the bank rate they previously got it before sef.

This makes me really wonder how they'll make their profit as bureau de change

didymario7:


Lies, big fat lies. The black market has never done anything close to the official channels. Bring your sources.

Have you handled 100,000 dollars before.....Basically walk into your bank and tried to withdraw 100k dollars? Maybe that's too rich for your blood, how about 10k dollars? Those of us wey dey handle that type of money know the response the banks gave, from no cash available to CBN restrictions. This resulted in most of us patronizing black market for our businesses. Before you shout lies, ask your friends, boss, mentors etc where they source their dollars from!

ZUKKYY:
Im asking how much was exchange rate of dollars before the new government came in.
Na $756 una the celebrate

Leave them. . Fools. .

didymario7:


There are over 41 items that cannot access $$ through official channels. The black market will continue to have value.

They said no more black market

abbey621:


460 was artificial suppression, not the real value of Naira, this new rate reflects a stable market and allows less dependence on black market. The goal is to eventually allow the market to dictate most of the Naira's value instead of the government.

Tinubu is a clown. . He is rushing everything without creating an enabling base to Cushing the effects.

He has removed govt responsibility on FX, electricity, PMS, and even education. . So what is his govt going to do to help the heavily suffering masses?


Same game. . Different dimension in my opinion.

Even This NTA newscaster just stated that "the naira has been strengthened"

How comes?

Saintinoo:


So we should be happy that naira is now 750 naira to a dollar? What nonsense.

They are clowns that don't use their brain to think anymore. . So sad. .

If Tinubu pee . . Na God don come down be dat. .

Hope Seun take this nonsense to tweeter, make dem teach am small lesson, as ona no kon get shame for this country.

It was reported some days ago that it appreciated to 640 per $1, but somehow it is appreciate from 770 to 756 $1...

Propaganda always has a way of disgracing the reporter on the medium to longrun.

Everything has gotten worse than when Buhari came since Tinubu was sworn in...

Continue...

oneman2k7:
These people are chronic liar. They told us it was #663/$ last week and now 756.

No fear of God

I was confused when I saw the news last week
Apc with lie is like 5&6

abbey621:


460 was artificial suppression, not the real value of Naira, this new rate reflects a stable market and allows less dependence on black market. The goal is to eventually allow the market to dictate most of the Naira's value instead of the government.

Well, I think it's idealistic to believe the govt will have zero influence on the Naira. The problem is we seem to be moving from one extreme to another. From hardcore socialist to hard-core capitalism. But even in capitalism, the CBN still plays a major role in Naira stability as it is given in its enabling laws. So i think the present plan is just to open up the economy to investors with easy catches for quick profits such as free market but at the expense of the disposable income of most Nigerians and their cost of living as well.
It's a conflict between textbook economics and real, practical economics

MilesLamar:
We don't care, return our mandate :

you have no mandate. Get this into your head

Basicend:


Tinubu is a clown. . He is rushing everything without creating an enabling base to Cushing the effects.

He has removed govt responsibility on FX, electricity, PMS, and even education. . So what is his govt going to do to help the heavily suffering masses?


Same game. . Different dimension in my opinion.

You're obviously joking......What exactly are you cushioning? We've all been crying about CBN's nonsense Naira policies, we've all been angered by the subsidy scam yet you want him to wait for what exactly? Perhaps another 200 billion from China in order to keep fuel at less than 200 Naira is what you meant?

Agbegbaorogboye:

Well, I think it's idealistic to believe the govt will have zero influence on the Naira. The problem is we seem to be moving from one extreme to another. From hardcore socialist to hard-core capitalism. But even in capitalism, the CBN still plays a major role in Naira stability as it is given in its enabling laws. So i think the present plan is just to open up the economy to investors with easy catches for quick profits such as free market but at the expense of the disposable income of most Nigerians and their cost of living as well.
It's a conflict between textbook economics and real, practical economics

Notice the word I used....'MOST'......The market should mostly dictate Naira's value with the government stepping in only at the extremes such as high inflation or unemployment. You're right about policies but those policies should not hinder the free market!

nextstep:


Yes it has changed, but that rate was artificial, in the sense that only a very small segment of Nigerians could realistically access dollar at 460. The 756 you're seeing is the real - market supported rate - what it should have been all along, and indeed was closer to what most Nigerians were getting.

The rate that Naira becomes will be a weighted average of the old (subsidized) rate and the parallel rate (weighted by the number of people who could access either). JPM seems to think 600, I'm thinking it would get worse, even going as high as 800, as multinationals with money currently trapped pull out their gains. Painful in the short term, yes, but the reason the naira is devalued is because we want to buy more than we produce as a country.

Same thing with fuel. We were all paying the higher rate for petrol (it just didn't come out of our pocket, but we were paying it in the lack of service and infrastructure). Now the hope is now that we won't be subsidizing neighbours or smugglers, we will see the gains of paying more out-of-pocket.

you APC and Tinubu supporters don’t get tired of these your useless stupid analysis. You gave several analysis for 8 years while things got out of hand. You have started again with your rubbish analysis of it will go up and come down. It will never be well with you and your kind that support evil.

abbey621:


Notice the word I used....'MOST'......The market should mostly dictate Naira's value with the government stepping in only at the extremes such as high inflation or unemployment. You're right about policies but those policies should not hinder the free market!

Don't you think 22% inflation MoM and over 18% YoY is high enough for intervention?
The Afcfta and ecowas single currency framework pegs inflation rate for each participating country at 9%
Our unemployment is close to 40% which is critical for any economy.
So while free market is theoretically desirable, Nigeria's fundamentals presently does not support it. Tinubu's team are only looking at fdi
Fdi can save an economy but can also turn an economy to dumping ground.
What makes market virile is a viable middle class with appreciable purchasing power.

Lemos14:


Seun is this supposed to be good news or what? How does this look like appreciation in any form

The seun sef is just a kind of bought over hypocrite jor ... He supports most of the things that are not meant to be supported .