Basicend:


It is because you don't understand the terminologies used in that piece, that is why you are writing jargons and giving yourself a flaked hope.

We have so much dummy brains in this country. Are you also amongst those that go to his Ikoyi (Boudiloun House) to eat Amala? Coz I don't know what darkens you people's counsel and reasoning so terribly.

I mean, you still believe the very kingpin of a corrupt lot can bring the change to this Nigeria?

You lot, with you foolish thinking and belief brought Nigeria to this mess. .

Why are you Paranoid??😂🤣😆 You are Sounding Frustrated 🤭

Acekidc4:
People should give Tinubu time, he will surely perform and do wonders. You all will thank him later. Things are really bad, we all know but it won't be for long.

Yea its true. Dude need to settle down. If l have my way l will withdraw all litigations so that he can focus. Things are really bad with people out there.

Angelfrost:
Mehn... How long will this Propaganda be sustained??!

How is it propaganda?

Any government that is able to control the fx market in Nigeria would have solved more than half of the country's problems.
But I doubt if any government is going to be able to achieve that based on how deeply entrenched the parallel market is.
I'm scared any policy to stifle the operators might end up having the reverse effect.

With the bloated executives and " pay back appointments" , this measure may struggle to work, as most new comers in the ruling circle would want to stock pile "their own" dollars too, they can buy it at any rate sinking the naira...after all they can print more notes.
Just like a waiting shark, they may be waiting for the government interventions to make it big.

Mind you the problem is not usually the process if religiously followed, but the human deviations and betrayal of the process, largely supported by some who should regulate the process.

We need to go back to reducing cost of governance and enforcing the rules starting from the political settlements as usually seen during elections in Foreign currency, these and more will reflect a serious government, else the speculators are still in game.

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

Plenty English.... Show working.

Nigerians are tired of audio government.

As long as the Central Bank continues in a role not dissimilar to a typical Ministry or Department in all its political glory and grandstanding, pandering to the whims of whoever is in the Executive office and not solely serving the interests of the economy in a just and equitable manner then it will continue to be a minority player in the foreign exchange market it has little leverage over.

The bottomline is simple.
Why will a typical Nigerian sell his hard earned foreign currency in a market he cannot readily buy from.
What has the Central Bank been able to do with all its own foreign currency earnings than dispense it to the privileged in society, for things that are hardly productive.

FreeStuffsNG:


👇🏽👇🏽👇🏽👇🏽👇🏽

“Go to the rural areas, farms, markets, etc, to see those who are really suffering. The poor Nigerians are not on social media.

“You come online every day, post your pictures and videos, and still claim that you are suffering. My brother, you are not sincere to yourself.

“Today, our youths have misplaced priorities because they don’t think straight. They would rather stay online from morning till night instead of using their precious time and money for something tangible.”

Deviating from the real convo is a known method clowns use to save their ass from shame.
What drags the youths and posting of pictures into this convo, you're sick sir.
Let me remind you again complaining about hoarding isn't enough reason to make the naira go this low. Up to this moment the government haven't made any effective initiative to make the economy grounded.
What it's suceeded over the past month is tax it's citizens so hard like a strangler fig, which have made a lot of poor people poorer.
So it'll be reasonable to advise unasef to do the right thing, mk we commot from this blame game

Story

Story...incompetent people in government

Teenaira:


Every sensible person will know that the exchange rate of $ to Naira can not be N1200 to a dollar. What we have currently is pure speculations and I will sincerely like government to hit these criminals real hard. However, statement like the one coming from government now will be a subtle warning to these speculators creating artificial demand for dollar. There is no project the country is engaged in that requires the kind of dollars we consume daily currently. Government, either through the CBN or minister of finance should continue to let them know that government will use the big stick without any notice. That is likely going to make some of them stop the round tripping while the die hard may be caught in the act.

And I keep on saying that the problem is not the markets, the problem which this government is slow to address are the fundamentals of the economy. Make the right noises to get the productive sectors of the economy going and the pressures on the exchange rate will abate. When people see the concrete moves aimed at reducing the trade deficit, they will begin to sell off their dollarised holdings and assets.

GOD CAN USE TINUBU THE WAY HE USED SAUL(PAUL) TO BLESS HIS PEOPLE. HOPE U GERRIT!

It is because you don't understand the terminologies used in that piece, that is why you are writing jargons and giving yourself a flaked hope.

We have so much dummy brains in this country. Are you also amongst those that go to his Ikoyi (Boudiloun House) to eat Amala? Coz I don't know what darkens you people's counsel and reasoning so terribly.

I mean, you still believe the very kingpin of a corrupt lot can bring the change to this Nigeria?

You lot, with you foolish thinking and belief brought Nigeria to this mess. . [/quote]

Babanah:
Can someone advise the powers that be to create a Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution. This will segment the market. Those who need the dollar for speculative reasons or as a store of value can buy this Instrument. While the real dollars will be left for these who have genuine need for forex. The ETF will fluctuate/mirror the naira/dollar rates but will be held within Nigeria.
For further details can you ask the CBN Governor to contact me.

You're just coming from a different angle can you give more details

FreeStuffsNG:


Remarks from the Minister of Finance and the CBN Governor at the National Economic Summit Group.
1. The FX market is illiquid because there is not enough supply of foreign exchange in the system due to various reasons.

2. The bleeding with respect to Nigerian resources has stopped.

3. The time to be concerned has gone as the country is now on the path of rebuilding.

4. There is enormous interest from foreign portfolio investors and foreign direct investors.

5. The President has signed an executive order that will effectively legally allow all the cash in the domestic economy to come into the system.

6. There is another executive order that will allow domestic issuance of foreign currency instruments.

7. Revamping of the FX market to ensure simplification and digitization of the FX market through a robust regulatory framework.

8. There is an expectation of a $10 billion inflow to clear the backlog of FX obligations in the coming weeks.

9. There will be supply of FX from NNPC, Sovereign wealth fund, foreign portfolio investors.
Check my signature for free stuffs!

L'ori iro!
There are TWO things involved here. Either they know where the problem is ( I know they know) and they are unwiling to do something about it, or they are not concerned about the plight of Nigerians (if Tinubu is concerned why does he have the largerst governmnet appointees ever for the Federal Government).

FreeStuffsNG:


Remarks from the Minister of Finance and the CBN Governor at the National Economic Summit Group.
1. The FX market is illiquid because there is not enough supply of foreign exchange in the system due to various reasons.

2. The bleeding with respect to Nigerian resources has stopped.

3. The time to be concerned has gone as the country is now on the path of rebuilding.

4. There is enormous interest from foreign portfolio investors and foreign direct investors.

5. The President has signed an executive order that will effectively legally allow all the cash in the domestic economy to come into the system.

6. There is another executive order that will allow domestic issuance of foreign currency instruments.

7. Revamping of the FX market to ensure simplification and digitization of the FX market through a robust regulatory framework.

8. There is an expectation of a $10 billion inflow to clear the backlog of FX obligations in the coming weeks.

9. There will be supply of FX from NNPC, Sovereign wealth fund, foreign portfolio investors.
Check my signature for free stuffs!

if then ask this zombie to explain all these jargons he just put down here , he can’t. Keep dancing round in circles, defending what your brain can’t comprehend.
Keep supporting and defending this illegitimate government of lies and trial and error.

From government of "shocked" to a government of "moves to".
Always moving to but never getting to where they should..

Outa here..

Lmao
This is so unnecessary

Acekidc4:
People should give Tinubu time, he will surely perform and do wonders. You all will thank him later. Things are really bad, we all know but it won't be for long.

Abi, let's give him and you, benefit of the doubt.
Can we review this in 3 months?

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

AFRICAN PROMISE IS AN UNKNOWN PROMISE 🦴🦍

FreeStuffsNG:


https://businessday.ng/news/article/775395-naira/

Tsatsuniyya
Story
Akuko
Itan.

Rants of a confused man.

As long as politicians are stocking their money in dollars, all these may amount to nothing.

After what happened in the last general election, politicians will stock dollars massively.

FreeStuffsNG:

Dey play ehn. Smh. Yi o ye o l'ola

Keep receiving yourself. You can't scare anyone with your empty rants.

FreeStuffsNG:


Remarks from the Minister of Finance and the CBN Governor at the National Economic Summit Group.
1. The FX market is illiquid because there is not enough supply of foreign exchange in the system due to various reasons.

2. The bleeding with respect to Nigerian resources has stopped.

3. The time to be concerned has gone as the country is now on the path of rebuilding.

4. There is enormous interest from foreign portfolio investors and foreign direct investors.

5. The President has signed an executive order that will effectively legally allow all the cash in the domestic economy to come into the system.

6. There is another executive order that will allow domestic issuance of foreign currency instruments.

7. Revamping of the FX market to ensure simplification and digitization of the FX market through a robust regulatory framework.

8. There is an expectation of a $10 billion inflow to clear the backlog of FX obligations in the coming weeks.

9. There will be supply of FX from NNPC, Sovereign wealth fund, foreign portfolio investors.
Check my signature for free stuffs!

Only you write, only you quote your writeup.
You are still a learner in this game, as we have seen those before you eg mannabbq from buhari's time till now. No crap he did not spew, right from when dollar was 180 till it became 750, when fuel was 80 till it bacame 196, when diesel was 90, till it became 800.
Note all these happend in 8 years.
In less than 5 months baba is doing well, breaking all records. From 750 to 1250 for $1 and 950 to 1450 for pounds. Fuel from 197 to 600, diesel to 1050 per liter.
Stay there and be spewing economics you don't understand but your handlers have passed down to you.
Like Manna, you go wisen up last last.
Meanwhile, where is the freestuffs you ask people to checkout? Na today, same way Manna claimed to do imaginary BBQ only spirits de chop.

xandy84:
The value of a currency is not measured in exchange to $ but what the currency can buy. What can a 1000 naira buy? Speculation and greed drive the stock market either in Lagos or New York. Investors speculate if a particular stock value will go up in future and invest while the price is low, and when it goes up, you make profit. You are not going to make money in your investment if you do not speculate. People speculate when the price of an items is volatile. People speculate naira will fall cos the indicator suggested and convert their naira to $$ to be safer and that bring about more demand to $$ and increases in demand always bump the price up.
Government trying to punish speculators is like US government trying to send Elon Musk or Satoshi Nakamito to jail cos he found Tesla or Bitcoin.
Tunubu administration has no iota of ways to cushion the double effects of floating the naira and removing the subsidy at same time the effect just begin. The idea of going after parallel market operators will further increase demand of $$ and send naira to tailspin. Naira need help now to stabilize it or 2000 to a $$ before January.

Meaningful write-up. I was telling a friend that the actual and better solution for all this challenge is one that will set the past adminstration up for drags. BAT's administration has chosen not to explore them. Something OBI would have easily explored. They just want to continue padding it all up.

cucumbar:
if then ask this zombie to explain all these jargons he just put down here , he can’t. Keep dancing round in circles, defending what your brain can’t comprehend.
Keep supporting and defending this illegitimate government of lies and trial and error.

Na watin them tell am to talk, him write.
99% of what he wrote there, he does not understand.

/
APC government is good at pointing fingers in the wrong direction. Everyone and his grandmama know the solution. Nigerians are obligate consumers of foreign goods. The few that tried local productions got choked by the unfriendly and directionless policies of the FG.

The only light in the tunnel is that Bill Ackman pulled the rug on bonds and US10T bond knifed down. The move was positive for major currencies against US$. Let's hope it will lift the naira too---I strongly doubt. Just 5 months of "masterplaner" Tinubu and naira got beat down from N450 to N1200 per dollar. One needs only $833 to be a naira millionaire! By extrapolation, N5000 per dollar won't be far-fetched unless something drastic happens. Drastic could mean anything and should be open for interpretation.

/

Babanah:
Can someone advise the powers that be to create a Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution. This will segment the market. Those who need the dollar for speculative reasons or as a store of value can buy this Instrument. While the real dollars will be left for these who have genuine need for forex. The ETF will fluctuate/mirror the naira/dollar rates but will be held within Nigeria.
For further details can you ask the CBN Governor to contact me.

Exactly my thought,I think no individual should be with dollar,not even banks.

Babanah:
Can someone advise the powers that be to create a Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution. This will segment the market. Those who need the dollar for speculative reasons or as a store of value can buy this Instrument. While the real dollars will be left for these who have genuine need for forex. The ETF will fluctuate/mirror the naira/dollar rates but will be held within Nigeria.
For further details can you ask the CBN Governor to contact me.

/
Total bullshit.

Create Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution? Did you listen to yourself? Speculators will kill naira if it happens. You expect strong Financial institutions to stop playing in EPL and sign up with Nassarawa United? Who will be the underwriters? I pray you are not thinking of undertakers like Vanguard, Blackrock or State Street. Jeez!

What's Nigeria's foreign reserves again? Even the oil they can refine and earn huge forex from, they refuse to refine.

/

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

na today? Na today we beginning hear dis Kain gra gra Grammer? I thought they said emefiele efforts in checking that was not necessary and reasonable?