successmatters:


Please help me explain that? Thanks.

Is it like USD that comes into your account from earnings, or inflows from the business you do?

Yes. That's right

As long as goods and services remain expensive locally, it's still ok to buy.

PointB:
If Naira is not strenghening because of production (exports) or cut in imports, then it's Phyrric victory. One to watch.

Bros, don't mind them, this wayo government want to add pump and drop as one of their evils, but we will dance this music together

BreconHills:


Yes. That's right

Then you're not getting your USD over the counter. I am talking about you walking into a local bank and filling a form to buy dollars with naira at the government rates. If you're not doing that, you're no different from every Chinedu, adamu or Femi on the streets.

successmatters:


Then you're not getting your USD over the counter. I am talking about you walking into a local bank and filling a form to buy dollars with naira at the government rates. If you're not doing that, you're no different from every Chinedu, adamu or Femi on the streets.

Ok so you see the problem with your criticism is that it is a straw man.

Yes you can not do that now and in fact you will not be able to do that until reserves are $60m plus ( uncommitted)

You are also not going to be able to do that until you completely automate the system and make each $ trackable.

So there is a long way ahead and no one should paint FG into a corner with impossible standards after all there has been arbitrage and black markets since the 70's.

What we should be doing is saying good job for reducing short-term calls on reserves and creating a conducive environment for capital investment ny paying off fx forwards and trapped dividend remittance.

Rome was not built in a day.

Hoelujohn:

Buy more dollars for what? Is that our currency? People like you would have been in jail if it were to be in a saner clime. Have you heard of some in UK or Canada stockpiling other countries currency?

But your so called leaders are stealing and looting in dollars including Tinubu.

BreconHills:


What we should be doing is saying good job for reducing short-term calls on reserves and creating a conducive environment for capital investment ny paying off fx forwards and trapped dividend remittance.

You're listening to too much propaganda news, but that's not the problem. The problem is that you're believing them. Until there is liquidity in USD purchase, then all they are saying is trash.

Againstallodds:
I'm just laughing at these fools,I'm keeping my dollar and will keep buying dollar with any new income that I want to save.

Sharp guy

successmatters:


You're listening to too much propaganda news, but that's not the problem. The problem is that you're believing them. Until there is liquidity in USD purchase, then all they are saying is trash.

Everyone gets to live just once and plays by their own rules. Cynicism to my mind is intellectual laziness to another its wisdom.

Live and let live.

Againstallodds:
I'm just laughing at these fools,I'm keeping my dollar and will keep buying dollar with any new income that I want to save.

there are unexplained anomalies that occur in the financial world once is a while but these abgado people don't want to hear that, they'll rather drive the lies that a known druggie has become a financial mastermind overnight, time will tell

BreconHills:


GT bank is still paying USD over the counter - at least my branch. Just insist on NOT receiving small denominations Rate? Why? You can do whatever you want with your dollars.

I have been lucky with form A - 2 weeks but i hear not everyone is.

Okay bro thanks

SadiqBabaSani:
Take this advice and you will not regret it. They are borrowing massively to defend the Naira.


The last administration which Tinubu does not want to bring to book finished Nigeria kpatakpata.

The looting in the last 8yrs under Buhari was unprecedented.

Tinubu must jail Malami, Mele Kyari, Daura's most famous recharge card seller etc after recovering the properties anf funds they stole

na wah oo

I don't really understand this 'nigeria only imports' mantra. I don't know about other countries but apart from exporting crude oil, UAE = Dubai is not producing anything. They import everything, even the consumers that buy what they imported are imported consumers. Americans are also complaining of their major companies (apple, Samsung ,Nike ,etc) producing with cheap labour abroad and bringing their products back into the US. The top importers will likely be china, because no country has all the raw materials to produce everything, you must import something. And since china is like the world's production hub, they are likely the biggest importers and exporters.

In my layman's economics, the major thing our government should be Fighting for is refining our own crude for local consumption and exports.

SadiqBabaSani:
Take this advice and you will not regret it. They are borrowing massively to defend the Naira.


The last administration which Tinubu does not want to bring to book finished Nigeria kpatakpata.

The looting in the last 8yrs under Buhari was unprecedented.

Tinubu must jail Malami, Mele Kyari, Daura's most famous recharge card seller etc after recovering the properties anf funds they stole

The money in the foreign reserves technically does not belong to the government. Rather, it held by the central bank. The federal government has no right to deep into it.

If the Buhari government did, then it's abominable.

What I'm saying here is, no matter the level of corruption, that does affect the foreign reserves.

The foreign reserves were run down because the Naira exchange rate through Buhari's 8 years was overvalued and did not reflect market realities.

Due to this, demand for dollars exceeded supply. That was what depleted the foreign reserves over an 8 year period.

Againstallodds:
I'm just laughing at these fools,I'm keeping my dollar and will keep buying dollar with any new income that I want to save.

So Oga, how market? Abi dollar never crash for una side?🤪🤪🤪

When you know that Nigeria is spending above 90% of her forex on debt servicing, you would understand that the Naira has only one way - DOWN.
Secondly, the present thieves in charge printed so much Naira that it would take years to mop up.
Have you wondered how the dollar suddenly started exchanging for more than N1000, and Nigerians had Naira to buy them?
From where did all the Naira appear?
Answer: Someone printed them.
Apparently someone printed so much Naira to use to buy over every institution of government in Nigeria.
That is why Naira's downfall will not be reversed soon.

Spandau:


So Oga, how market? Abi dollar never crash for una side?🤪🤪🤪

if you are current with dollar trends, you will know that tinubu is doing what others government have done and failed ( I hope he succeeds because in the end we all spend naira).Dumping forex in the market and stabilizing the naira for a short while.
I wish I started saving in dollars as soon as a got my first job. That would have made my japa plan much easier but it's ok. Better late than never.
From now on half of my income will be saved in dollars whether the naira is appreciating against the dollar or not. I have learnt my lessons in a hard way

Na wa