The season 2 of blame game is currently on in this administration.

And they said they are going to close the gap between th parallel market and official market... now he his saying he doesn't know what the parallel or black market is.... Shamefull

Abeg make Una leave black market alone,na there we dey enjoy better rate for USD.


I enjoy selling my usdt on binance,very good place for selling my usdt.Good rate.

Really? Shouldn't that increase supply?

Pure B*llshit.

Rubbish

Meanwhile, congrats to Aka Eze Aka on his appointment as the commissioner of Information, Enugu state

lol.

[b]The Naira is on a permanent downwards trajectory. The reason is very simple. Supply and demand. This is economics one o one that even a child understands.

We are an overly importation reliant economy. Which mean most of the goods we consume are imported into the country. The same goods are also purchased in US Dollars which is the international trading currency. For this reason there is always high demand for dollars.

This high demand for dollars means people will pay almost anything to get it. The real problem is then that we have a dollar scarcity. We have dollar scarcity because we do not export enough goods and service to generate US Dollars back into the economy.

The fix for this problem is impossible to fix overnight due to many years of poor governance and failure to develop a thriving industrial, manufacturing and export economy. The failure is from government incompetence and the people's failure to elect good useful leaders. Nigeria for many years relied mainly on oil revenue and failed to properly diversify the economy like their counterparts in the middle east.

A thriving industrial sector takes many years to develop and requires things like steady electricity,access to venture capital, good regulation to ensure internationally acceptable standards for our goods amongst many other things.

Unfortunately due to mass ignorance, tribalism, religious and ethnic sentiments we are never able to provide good leadership. As such the right decisions are never made. As such we are all sleeping in the bed we collectively made by our actions and inactions.

This is my future prediction for Nigeria based on current trajectory.

1: Massive population growth
2: World record unemployment
3 Massive crime growth
4:World record poverty
5: Sustained insecurity due to regional conflicts
6: Sustained political instability
7: Millions of unemployable due to advent of business automation reducing worker requirement, Artificial Intelligence replacing jobs, Climate change reducing arable land and reducing farmers number

These factors are all tied to each other and are inevitable. However the positive note would be small pockets of growth for people with access to capital, few states with competent governors enacting policies to help a few thousands cushion the coming suffering, youth innovation in media.

Make no mistake Hell is coming for the world at large due to Automtion,AI and Climate change. Advanced economies will absorb this better due to worker protection policies and social welfare. However countries like Nigeria that refuse or are unable to change will suffer the most.

Its envitable. The best you can do is to prepare yourself and children as best you can for the coming tide.[/b]

jmoore:
Na you go tell people how to channel their money?


Tinubu, the master strategist. Emilokan.

It's now parallel lokan.


It's a big error if Nigeria will depend on remittance for FX.

Imagine his nonsense talk

Diaspora remittance learnt lesson from Emefiele greed

He hijacked the dollars from overseas

Doing crazy scam with it


They should go and consult chukwuma soludo and Emir Sanusi to tell them how they did it during Obj Yaradua Jonathan era

When ever they fail ,they blame it on each other fools

Shonubi has been talking nonsense for about a week now!!

To the best of my knowledge, there is no medium of remittance from the Diaspora that is outside the various operating windows run by banks and financial institutions.

There's no way you can lay hands on dollars sent to you from a sibling abroad, if you don't walk into a banking hall. All the flutterwave, Remitta, etc.., run transactions across borders, yes. But they basically deal with numbers, where you stand to receive alerts into your Nigerian accounts or domiciliary accounts, as the case may be. But there is no channel that hands over paper currency to an individual as proceeds from diaspora remittance, if not banks and other money houses.

So what's this load of garbage this clown is vomitting?!

This man is worse than Emefiele oooo. The other day he said FX unification is not his goal. Today, he is saying what should he do about black market rate? I remember pre-Buhari admin, the official FX was stable and difference with black market was less than 3%.

nlfpmod:


https://www.thecable.ng/diversion-of-diaspora-remittances-to-parallel-market-weakens-naira-says-cbn/amp

Just fox the problem and jail those who need to be jailed like Sanusi Lamido did. You're the CBN Governor, you can do it.

Today, someone called me privately and said that this thing (naira) has gone up to some levels in the black markets, my question was, what do you want me to do? Do I operate in the black markets? I don’t know the basis of pricing in the black markets.

See the rubbish this man is saying?
If you have no control in the black market nor operate and regulate the market, why did you then go with the idea by Tinubu to devalue the currency to merge with the black market rate?
Is it not olodo idea to expect black market to obey your laws when you have no control over them?
Your see how this people are deliberately destroying our currency simply because they have stored so much in dollars?

The Muderfucker said "what do you want me to do? 🤔😂🤣😀

Oh my goodness 😮🙊🙉

Please make una help me greet
Dr Unago C. Shege.
Bar, Unaneva C. Enitin. Esq.

I salute you guys🙋‍♂️

So a whole so called giant of Africa is dependent on diaspora remittances for its foreign exchange earnings and not export of finished products? Until you lot do what is right by increasing export, naira will continue to fall, it's just that simple!

See Lazy Excuse !!

Today, someone called me privately and said that this thing (naira) has gone up to some levels in the black markets, my question was, what do you want me to do? Do I operate in the black markets? I don’t know the basis of pricing in the black markets.

Hahahaha 🤣🤣🤣🤣

jmoore:
Na you go tell people how to channel their money?


Tinubu, the master strategist. Emilokan.

It's now parallel lokan.


It's a big error if Nigeria will depend on remittance for FX.

Don't forget most of these individuals get lot of dollars via Form A which the FG subsidised.

So, the loyalty to the country that helped in the time of need has evaporated so soon?

We are facing too many issues in this country cause by wrong policies. Two major thing that truncate the economy of this nation is fuel and dollar rate.

I was thinking he has plan to produce dollars and make it available to banks when he floated it. Common to withdraw $200 in my bank I visited 2 branches before I was able to get paid yesterday.

Tinubu think by floating the dollar miracle will start happening. Economic wise is not right to remove fuel subsidies and devalue Naira at same time knowing fully well oil marketers purchase oil with dollar and the more Naira is devalued the higher the price of PMS.

I can even rule this country better than Ebola

Another very very Stooooopid Excuse/Theory...

At this rate, even if a mosquito takes a bath or NEPA cuts power, the mechanical engineer who is the CBN governor will say it's weakening the Naira.

Abeg make pesin hear word joor... Nawnsense!

if Economy don scatter, e mean say e don scatter... stop blaming anything. Na today black market been start to dey collect dollars?

The whole Naija wahala don vex me mheen.

***note***
This is just the beginning, the dollar is definitely going to cross 1000Naira before this month ends, at this rate. And that has nothing to do with remittances. The Economy is just in shambles as a result of very poor policies- period.

Mr. CBN governor, please STOP whining and complaining about diaspora remittances. If you grow your damn economy, everything else would fall into place. All your crooked politicians and your quota system billionaire, Aliko Dangote who are buying up the $$ from the same CBN at a very low rate and then selling them at a very exorbitant rate to the parallel market dealers are the problems.

Clueless head of finances....
Diaspora remittances, my foot.....
Like hustle money, olosho money from Italy, drug money sent back home.....etc
What about what should be taking place here to stop the diaspora movement and focus on creating the dough back home.....?

turmacs:
The speed at which our naira take dey weak day by day is directly proportional to rate of mental decline of ebolas.. anyways, it will not affect me in any way because my boyfriend is rich As I'm talking to you now, I already have 1TB of data on my router for the whole year, three gallons of 25litre fuel for my generator, MTN Lumos 6 months subscribtion as backup and refrigerator filled with food that five of me can not Finnish in three months....

Is that all.....you are still poor if that is all you have.

So he want diaspora visiting the country or who send money back home to their families to take their dollars and foreign currencies to the bank and get N450 on each dollar instead of the street and get N950? Approximately 100% instant lost in value!

If na him money he go fit do am? Nonsense and clueless people! Can that same Nigeria walk into that same bank, give them N450 and get $1 back?

Make liquidity available to everyone at the bank and no one would go to the black market, it will die a natural death!

you can't do without diaspora remittances but the same diaspora cannot get a platform to vote. when they talk about diaspora voting, you guys mock it because you never want the exposed to have a say as it will be an informed choice.
rubbish

BoldBrainz:
Shonubi has been talking nonsense for about a week now!!

To the best of my knowledge, there is no medium of remittance from the Diaspora that is outside the various operating windows run by banks and financial institutions.

There's no way you can lay hands on dollars sent to you from a sibling abroad, if you don't walk into a banking hall. All the flutterwave, Remitta, etc.., run transactions across borders, yes. But they basically deal with numbers, where you stand to receive alerts into your Nigerian accounts or domiciliary accounts, as the case may be. But there is no channel that hands over paper currency to an individual as proceeds from diaspora remittance, if not banks and other money houses.

So what's this load of garbage this clown is vomitting?!

Pity him.
He's basically saying parallel market rate pass me o

Oh now its the turn to blame the innocent peiple in the diaspora who send money down as subsidy to help their people back home cayse the Nugerian government have refused to assist in incresing minimum wage and their standard of living through sustainable development projects. funny thing is the amount of money these politicians move overseas is greater than what the diasporians sends back home bunch of thieves.

BoldBrainz:
Shonubi has been talking nonsense for about a week now!!

To the best of my knowledge, there is no medium of remittance from the Diaspora that is outside the various operating windows run by banks and financial institutions.

There's no way you can lay hands on dollars sent to you from a sibling abroad, if you don't walk into a banking hall. All the flutterwave, Remitta, etc.., run transactions across borders, yes. But they basically deal with numbers, where you stand to receive alerts into your Nigerian accounts or domiciliary accounts, as the case may be. But there is no channel that hands over paper currency to an individual as proceeds from diaspora remittance, if not banks and other money houses.

So what's this load of garbage this clown is vomitting?!

Truly, I have been trying to understand what his point is.

I thought they said their policies has saved 1Trillion naira?

i swear the thing weak me too o , "what do you want me to do"

Ruling this country is not a rocket science o this people just don't want to do anything. you said you saved 1 trillion naira in one month , that's about 1.5 billion dolloars, 1 airbus cost around 100 million dollars, which means this money can buy 15 airbus , then kick start nigerian air and make dollars into the economy

To scrab black market is not even hard, make enough dollars available for people at the bank, at any volume and at anytime, inshort make it so easy that i don't have to step into bank, if i can change dollar at the comfort of my house into inside my dom account, watch how people will stop patronizing black market.

Jeffyblaq:
The Muderfucker said "what do you want me to do? 🤔😂🤣😀

Oh my goodness 😮🙊🙉

Please make una help me greet
Dr Unago C. Shege.
Bar, Unaneva C. Enitin. Esq.

I salute you guys🙋‍♂️