Good news for me

First of all, the poster should correct the misleading title and align it with the content of the story. We gain nothing by causing panic and uproar.

Secondly, this is an issue that has been waiting to happen. What do you expect of an economy that has a non-existent manufacturing base and where oil account for over 90% of its receipts? The decay in our infrastructure didn't start today and we expected all discerning people to join us then when manufacturing companies started leaving Nigeria for Ghana!

Faced with these odds, there's very little the CBN governor can do via monetary policies but Mr Jonathan must roll up his sleeves to courageously tackle the rot in infrastructure (power, transport- roads,rail, etc; security - including tightening of borders; health, education, etc) and drastically reduce government recurrent expenditure. If he fails to do these, I'm certain that history will not be kind to him.

I also think that some new or existing refineries should start working BEFORE the fuel subsidy is removed. In any case, this is also part of building of infrastructure.

Otunbakay:

I think u deserve an award here on nairaland; as the most 'UNREASONABLE' person on this forum, to add to your huge pay package so that u can be more fulfilled in your choosen career.

I bet he wants central bank to be controlled by MEND.Ogororo man,he is such a creek man,born to catch fish crudely.

and how does this lie make it to the front page.

they said when too much money is chasing a few goods it will result to inflation so there is too much naira in the hands of our corrupt leaders chasing the few dollar in the bureau D change, check this story out, a corrupt leader embezzles 2 billion naira and goes to the bureau D change to buy dollar to take abroad and he was told that the naira to dollar is 166 naira and he said ok

bureau D change:so how much are we changing sir?

corrupt leader: 2 bee, be.bbb  , (afraid to pronounce it)

bureau D change:2 mini-ni  (asking in hausa)

corrupt leader:bilion biu   (reply in hausa 2bilion)

the bureau D change press his calculator and ask the corrupt leader to wait let him consult others for more dollar only for him to come back and told the corrupt leader that there is a news now and nobody is willling to exchange for 166 naira for a dollar.

corrupt leader: na wa  (how much)

bureau D chage: 190 naira

without consultation and b`cos he did not sweat for the money he replied

corrupt leader: ba ko mi (no problem)

you see why won`t the naira been falling

i think we better go back to what soludo wanted to do b/4 the corrupt leaders kicked against it, we need to revalue the naira by removing the 2 zero for example if 200naira is to 1dollar remove the last 2 zeros and you have 2naira is to a dollar and the implimentation start with the FG by selling fuel @ 65kobo per litre and every goods and services will apply that way.

yes i know what you are thinking now, there is enough money in hand already, no, the FG will give each and every individuals 3 months to change their money (the current naira note to the new one) now within this three month if you have the old note you are buying fuel at 65 naira b`cos what ever amount you take to bank to change will reduce by two zeros e.g N20,000 = N200 for the new note so if you enter a taxi of 200naira a drop the new note pays 2 naira only while old note pays 200 naira until the 3 months given to every one to change their note

then with N2 = $1 Then we can start working on our economy to see how we can bring the lost glory

then make bureau D change illegal, any body that want to change money should go to the bank where it will be properly documented and if it exceed certain amount, it will be reported to efcc and other lawenforcement agency why do u guys think we have forex trading today, that is the right place to change your currency

why they will not do the above is b`cos these corrupt leaders have this naira so much even in underground inside their compound and they knew that with the above formular the CNB will print new note and they will be certain limit of change from an individuals.

take a look at this.

CBN: let`s print N50 note

corrupt leaders: go ahead

CBN: let`s print N100 note

corrupt leaders : just print N100 and N200 note

CBN: let`s print N500

corrupt leaders: even print N1,000 note

CBN : let`s revalue our naira by removing two zeros

corrupt leaders : look at this mad man you want to devalue all the money i have stolen, instead of you to talk of printing N10,000 or even N100,000 note

well let me stop here, he go better but i wonder which day?

It will eventaully happen and our minds are being prepared for this calculations that could be prevented by providng electricity and allowing manufacturing to take place.Encouraging the use of the chinese currency to buy goods ,increasing tarrifs on imported goods and making import unattrative,reducing import tarrifs on machines and many more

What goes around comes around.You can not eat your cake and have it.Nigeria as a country can not pull the shots without being resourceful,just like ant other country.

Print trillions of dollars,it is still going to be like tissue paper if you don't have what  the people wants, the essentials and the things that immediately controls evolution.

pls ooo don't blames, its not cbn na FG fault

Do you know that there are millions of ripe jobs waiting to be created in nigeria with just a bit of discipline,plans and hardwork in the leadership,a sense of direction? Sanitation alone can create different industries that will last for centuries in nigeria.

You think it is th end?But it is just the beginning.

this is indeed the begining of the end,

This news isn't pleasant at all. Fresh air indeed

If the Naira drops to N200 to the dollar, it means my real salary would have been slashed by one-third. And I'm not one of the useless civil servants who got their N18,000 salary increase this year. Most people are getting poorer every day thanks this this government that many of us (not me) voted for and supported.

Do you now see the effect of blindly supporting the NLC who are just looking out for their pockets rather than those of the vast majority of Nigerian who aren't civil servants? Do you now see the effect of having an unintelligent president who pursues re.tarded populist policies against all common sense?

We still still have over 3 years to go. I hope you all enjoy your PDP.

werepeLeri:

Wrong title.

OP - why are you always out to deceive people? Nowhere is dollar exchanging for 200Naira but your title says Naira Drops to 200. where?

Even the content of the story you quoted is not at par with the title you gave it.

OP - change your title to something that is more of the truth. Lies doesnt get us anywhere.

thank you.

Bible prophecy fulfilling

guys calm down, its nt Naira droping its dollars going up, m in india nd dollar is rising everyday

Is As if the problems of Nigeria is increasing Financially, spirituality maritally, etc. may God help us
If i should go for president now u guys will not vote 4 me.

My OP title was changed. If the posters are smart people they will not only read the thread title but the title on the article. I didnt change anything from the newspaper, but the mods may have for clicks. Now, the fact still remains naira is dropping in value. It is about N160+ to a dollar, they expect it to be close to N200 to a dollar by december which is not too far away. cheers.

Since the shift of power to president Jona, things have gone worst , and instead of the man that calls himself leader to act like one , he is busy traveling round the world and puck-nosing into other countries business,

    It is during his time , Rain fall started carrying houses, killing of people, Boko Rambos on rampage , leaders committ day-light fraud, kidnapping, bad roads, and raping of innocent citizens.
     As long as he is still in power !!! Nigerians should start makeing emergency future plans , coz this man no send anybody. na to sit down and luagh. and spoil things.

@op.i almost fainted when i read d caption, N200:$1, at anyrate d rate of devaluation reflects a bastardization of our economy by doz dat/r on d helm of affairs, we consented 2 damage so lets not complain of injury, i realy missd abacha

engr j:

Is As if the problems of Nigeria is increasing Financially, spirituality maritally, etc. may God help us
If i should go for president now u guys will not vote 4 me.

we only hope u wont b a stooge or puppet lyk gej, i go vote 4 u na bt u go giv me minister of finance

Is it strange?

pkv:

we only hope u wont b a stooge  or puppet lyk gej, i go vote 4 u na bt u go giv me minister of finance

I think the guy needs there support to stay in power ,that is why is just acting funny.He allowed goods that were banned by the obj govt to be allowed into Nigeria.Instead of working on those things that take our money away.All the airline take all the money back,thats to huge,oil companies,shipping lines,food,tookpick,juice,lace,phones,computers,building materials,,what do we really produce.

So once this people are in recession Africans will need to also suffer,even though we have real resources paid for with paper with value which is real cheating

The greatest error in Nigerian history was making the central bank totally independent. Something has to be done to restore sanity.

Wrong. The greatest error is to have the CBN governor reporting to the minister of finance (who is most likely a politician).

@moderatorr

the title for this post is misleading. Its different from the writeup itself. Naira is not exchanging for a dollar at N200 anywhere.

Anti GEJ imbeciles wont even read the write up half way.

But it's heading there soon.

Goodluck to everyone.

very misleading title

With all index pointing to negative, the president and his economic team keep boasting on 7 point something percent growth in our economy, reduction in inflation rate, etc. Are they deceiving us or they are not been fed with the right figures? God help Nigeria.

Who cares

[size=28pt]FRESSHHH AIRRR[/size] WE VOTED

[size=15pt]SO? GUINNESS BIG STOUT IS N300 PER BOTTLE. BIG DEAL![/size]

Next Thread pls,