oyichi:
illiterate government and their illiterate policies, what do you expect from people who Forged certificates

oyichi:
sell those refineries and give licenses for more modular refineries and in six months, the dollar will be on its knees, we will be exporting finished products and racking in the dollar on daily basis, very foolish president and his stupid cabinets

oyichi:
sell those refineries and give licenses for more modular refineries and in six months, the dollar will be on its knees, we will be exporting finished products and racking in the dollar on daily basis, very foolish president and his stupid cabinets

darediamond:

Britain will Never allow that!

Royal house of England own SHELL DIRECTLY.

There friends owns Cheveron, TEXACO etc.
Nigeria is still being colonized.

It is not ordinary that Nigeria Refinery Got DESTROYED and made remained so. It is a DELIBRATE thing orchestrated By BRITAIN via there foot soldiers in and outside Nigeria.

This is further energized by Devaluation of Naira which they always encourage our Wicked Polithiefcians to do always.

The only antiodate to this network of wickedness is to use your Naira to Buy Dollars at lower rate from the Banks in and outside Nigeria and sell it Back to Naira at Black Market Rate. This is what everyone should be doing in Nigeria now instead of Japaing UNREASONABLY and UNNECESSARILY.

The Bank Cards of Access, UBA, PROVIDUS, PAGA, SPARKLE, FIRST BANK, STANDARD CHARTERED, Zenith Bank, Alat By Wema, Wema Bank Card itself etc can all be used to buy Dollars at lower rate and sell it at higher rate through: Skrill, Payoneer, Binance Gift Card etc.

The Banks are in Business to make money, and they do get there dollar from C.B.N who actually get the dollar from sales of Crude Oil activities of Nigeria.

This reveals that there is 3 types of Forex Rates in Nigeria namely: C B.N Rate, Commercial Bank Rates (Official) and Black Market Rate (Parallel).

Even if you have Japa, you can still go into this by learning how to use bank transfer and bank cards.

Before you Japa if you want to, make sure you open Dom and savings account with all the C.B.N licenced banks in Nigeria so that you can easily lock into this Antiodate to the Arficial Inflation Created By The Ruling Class in Nigeria in connection with International Monetary Fund I.M.F.

May we never be Slave for the rest of our lives ooo.

contentmakerPRO:
Testing waters. They have sold this country to themselves. They hoard dollars in their abandoned homes, and also hoard it in places like binance and FX markets. Yet, they want everyone to understand them, that it takes time to rebuild the economy.
Nigerians, brace up, it may just be the beginning. Instead of lamenting and waiting for government to help your life which will never happen, go learn basic things that can give you dollars even if it takes 5 years to come to light. No one cares about you. No one at all, you die, you die.

Forget labour leaders, they are all selfish. Everyone is fighting for his or her own pocket. The so called normal harrasment Nigerian get from area boys and police on daily basis, is what took NLC president outside the country to treat and run x-rays. On whose financial burdens? Forget ..
If country collapse they escape, you are left to ruin. The country is totally down financially. They have over collected loans that are tied together in bonds. It will take tens of years to clear , with huge interest, yet being relooted. The oil is not much attractive again, they even sold the oil that has never been extracted, collected the money upfront in the name of oil swap. Nothing is bringing revenue to the government purse to cover all these atrocities. The government is totally confused.. it will take tens of years to restructure this country, financially, economically but with this crops of kleptomaniac politicians, it won't just happen. That's the reality.
What am I even saying self?

chicfarmer:
That's too high o.

kingsceemark:
Yoruba people in connection with Hausa fulanis really want to destroy this country for good, since 1960 till today nothing is working, and the shameless people no even get shame at all. Na this front and backward the zoo go remain until we break up this country and Every tribe starts answering their papa names. Illiterate people controlling the economy and security of this country, what do you expect. FAILURE

oyichi:
borrowing money to stabilize the Dollar, is this not the height of foolishness?

casualobserver:


Foolishness is commenting on matters you know nothing about. Nigeria has been spending money to defend the Naira for decades. When you hear that CBN intervened in the forex market that is what they are doing…. Subsidizing forex for Nigerians. The problem is we have now run out of forex reserves to defend the Naira.

The root cause of the decline in the Naira is the collapse of local refineries, importation of fuel, fuel subsidies, reduction in crude production and the fact that we export very little. The chickens have come home to roost.

ijustdey:

There is no respite yet for the nation’s currency as the naira recorded the biggest fall in recent times exchanging for N1,105 at the Nigerian…




https://dailytrust.com/dollar-hits-1105-at-official-market/

imoowo:
I Think some idiots here on Nairaland should stop mentioning Yoruba and Hausa or Fulani, when we talk about the hardship in the country, I know many Yoruba and Northerners that did not vote for tinubu. Why bring in tribalism at the end of day u expect them to vote for an Igbo man next time abi, how stupid, some People can't even comments without bigotry.

VeeVeeMyLuv:

Bros calm down
He is very correct

He did not say spend, but borrow

You must make effort to understand the difference

How can you borrow to defend your currency?

You are just trying your best to defend what cannot and should not be defended

casualobserver:


Like I said do not comment on things you do not understand. This thing is above your pay grade.

All these years we were claiming we had forex reserves of $30-40b. Recently JPMorgan announced that all the so called reserves had been borrowed against. While we had it on paper, we had borrowed against it and spent it defending the Naira. It is like claiming you own a house worth N300m but you have borrowed N250m from the bank against the house and used that money to maintain a false lifestyle.

You are clearly not informed or educated enough to comment on matters of economics or finance. We have been borrowing for years borrowing to defend the Naira, borrowing to subsidize petrol, borrowing g to build roads borrowing g to pay salaries. When you go to a shop to buy food, the food seller does not know where you got the money from and does not care whether you borrowed or earned the money. At the point of sale or transaction you are spending. It is at the back end where you go to your friends to borrow you money to feed your family that the borrowing occurs.

The bottom line is you have lost your job, you are spending money to feed your family and maintain the lifestyle of your family like someone who still had a job. Eventually you started to borrow money to spend in order maintain your family’s lifestyle, even pledging a significant portion of your future salaries for the job you have not even secured. That is the story of Nigeria.

Don’t confuse spending and borrowing. spending is what you do with money, borrowing is how you source the money whether money is earned or borrowed it will be spent. Borrowing g is simply a source of money that is spent.

The money that we had been spending to defend the Naira and pay fuel subsidies was borrowed money. That is why JP Morgan said no you don’t have $30b in reserves, you only have about $6 because we have over the years borrowed $24b from us and others to intervene in the forex market to defend the Naira.

That part in bold shows your ignorance and lack of understanding and that this thing is above your level. It is like asking how can a man borrow money to feed his family or how can a man borrow to keep up appearances?

AllDModsAreMaad:

Can you just keep kwayet and learn?

online4business:


Baba na now you know?

Believe politicians at your own peril I think say you dey root for balabalu ooo.

Dollars will continue to rise like rice wey dem soak for water.

No hope again dangote refinery no go even work to help naira.

Here's why.

Dangote is a business man he's not ready to lose money to help Nigeria.

People like the vulture griller and freestuffng and helnlius be like those guys dey buy fuel how much self e Dem now.


If you're in Nigeria abeg invest in knowledge like blogging or kdp.

Or better still learn copywriting.

onumadu:


If he does that, how would he steal money like all his predecessors?
NNPC and the refineries are the major conduits for siphoning Nigeria's money.

And NO, he is not foolish and his cabinets are not stupid.
They are just sociopaths, like Buhari and others before him.

That is why they rigged Peter Obi out.
For someone like Obi to win presidential election in Nigeria, a coup or a revolution must happen first.
Painful truth.

SSpeter:
Stop gaslighting people that is not how it works.

kingsceemark:
Yoruba people in connection with Hausa fulanis really want to destroy this country for good, since 1960 till today nothing is working, and the shameless people no even get shame at all. Na this front and backward the zoo go remain until we break up this country and Every tribe starts answering their papa names. Illiterate people controlling the economy and security of this country, what do you expect. FAILURE

darediamond:

Britain will Never allow that!

Royal house of England own SHELL DIRECTLY.

There friends owns Cheveron, TEXACO etc.
Nigeria is still being colonized.

It is not ordinary that Nigeria Refinery Got DESTROYED and made remained so. It is a DELIBRATE thing orchestrated By BRITAIN via there foot soldiers in and outside Nigeria.

This is further energized by Devaluation of Naira which they always encourage our Wicked Polithiefcians to do always.

The only antiodate to this network of wickedness is to use your Naira to Buy Dollars at lower rate from the Banks in and outside Nigeria and sell it Back to Naira at Black Market Rate. This is what everyone should be doing in Nigeria now instead of Japaing UNREASONABLY and UNNECESSARILY.

The Bank Cards of Access, UBA, PROVIDUS, PAGA, SPARKLE, FIRST BANK, STANDARD CHARTERED, Zenith Bank, Alat By Wema, Wema Bank Card itself etc can all be used to buy Dollars at lower rate and sell it at higher rate through: Skrill, Payoneer, Binance Gift Card etc.

The Banks are in Business to make money, and they do get there dollar from C.B.N who actually get the dollar from sales of Crude Oil activities of Nigeria.

This reveals that there is 3 types of Forex Rates in Nigeria namely: C B.N Rate, Commercial Bank Rates (Official) and Black Market Rate (Parallel).

Even if you have Japa, you can still go into this by learning how to use bank transfer and bank cards.

Before you Japa if you want to, make sure you open Dom and savings account with all the C.B.N licenced banks in Nigeria so that you can easily lock into this Antiodate to the Arficial Inflation Created By The Ruling Class in Nigeria in connection with International Monetary Fund I.M.F.

May we never be Slave for the rest of our lives ooo.

darediamond:

How does it then works Mr.?

Haven't Babangiga opened everyone's eyes when He said "We do not do our Government on the pages of News papers".

So you want people to Remain Slaves in this WICKEDLY CREATED POOVERTY ABI ATMOSPHERE?

YOU TERMED MY REVELATIONS AS gaslighting abi?

What then do you call the DELIBRATE Devaluation of Naira by the Ruling Class in Nigeria?

Mr., you can think and say anything in return to my call to action small revelations to fellow Common Nigerians. I am not a person who can be carried hitter and Titter. I'm not western Europeans who do pretends to like Africans to some extent. I am an (American so to speak), who shows the hatedred directly.

Is Nigeria Government TRULY RESPOSIBLE?

How come the Largest Economy In Africa have it citizens Delibrately Subjected to poverty by the Groups Of Private Families Group a.k.a Government or Ruling Class?

So you want common Nigerians to keep wallowing in senselessly created hardship baa?

Revolution does not necessarily needs to be violent and bloody at some point.

No it does not.

And the only way to revolutionized this animalistic Financial and Social imbalance is for EEEEEEVRY POOR NIGERIANS TO USE NAIRA TO FIGTH THE GOVERNMENT BACK LEGALLY.

Granted the Global Economy as been Dollarised. And Nigeria Ruling Class Rakes in Millions of Dollars Everyday via Crude Oil and Other Resources Exportations. So why should I not take the Bull By The Horns when the Ruling Class decides to use Poverty as A means to Silence Millions Of Nigerians who are also Entitled to the Natural Resources they have Hijacked from the Masses using the scam codes of barbaric laws called NIGERIA CONSTITUTION

CAN YOU EXPLAIN WHY Sir?

To anyone reading what I am saying, Please go for the Kill now!!!!!

Open Banks account in all the Nigeria Central Banks Licenced Banks. Collect on each account, the accompanying MASTERCARD or VISA cards or in some banks, Both.

There two types of Banks now globally. We have Traditional and Neo Banks. The traditional Banks in Nigeria are Access, FCMB, Unity, G.T.B, U.B.A etc. While the Neo Banks are Kuda, Aella, Mynt, Sparkle, Opay etc. Neo Banks are Online Banks. They too offer Master and Visa Cards over activated savings other other types of accounts they offer as financial instruments.

So start opening accounts with each of them all so as to be able to buy Dollars or other foreign currencies from them at cheap rate to resell at higher rate to fill the Financial Power vacuum Delibrately created by the Ruling Class against you.

Learn how to do card to card local and international transfer.

Open account with geegpay and Grey formerly known as aboki.africa.

Those two companies would be need to sell your dollars at Black market rates.

Remember the ruling Class make instant money from the sales of Crude oil and other Resources which they have share it Licence of Mining amongst themselves but they want you as a "Servant" to wait for 30 days to get paid by them.

What do you call that??

casualobserver:


Like I said do not comment on things you do not understand. This thing is above your pay grade.

All these years we were claiming we had forex reserves of $30-40b. Recently JPMorgan announced that all the so called reserves had been borrowed against. While we had it on paper, we had borrowed against it and spent it defending the Naira. It is like claiming you own a house worth N300m but you have borrowed N250m from the bank against the house and used that money to maintain a false lifestyle.

You are clearly not informed or educated enough to comment on matters of economics or finance. We have been borrowing for years borrowing to defend the Naira, borrowing to subsidize petrol, borrowing g to build roads borrowing g to pay salaries. When you go to a shop to buy food, the food seller does not know where you got the money from and does not care whether you borrowed or earned the money.

casualobserver:


You are the one who should keep quiet and learn, I am educating you in 5 minutes what people spend 4 years to learn in university.

AllDModsAreMaad:

You're just plainly stu pid. Educate your du mb sef.

I'm not even the one you quoted at first, but you trying to distribute the blame among the past administrations is rub bish.
Yes, that act didn't start today like you claimed, does that mean it should continue since it is not sustainable or reasonable for the country.

The other guy is criticizing the act irrespective of when it started, but you are foo lishly saying another thing just to defend your paymaster and exonerate them of all wrongdoings regarding the state of the nation.

He contested for that position, and his duty is to work and give meaningful policies not throwing blames like you're are shamelessly doing.