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Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market (14002 Views)

FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours / Naira Depreciates By ₦‎81/$ At Foreign Exchange Market / Naira Continues Free Fall On Official Window, Trades N1482.57/$ (2) (3) (4)

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Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by zombieHUNTER: 8:22am On Dec 02, 2023
EtinosaDLaw:
The people that told you guys that they're standing on mandate have started running away grin

The dream of most of these APC minions on the internet is to make enough money so they can escape the hardship they helped usher in because of their selfishness.

The evil that men do

lives with them

Omojuwa can't escape the wrath that awaits him.. he must reap what he has sowed

5 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Judolisco(m): 8:23am On Dec 02, 2023
Which day human being go even enjoy dis country

1 Like

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by RosyIsBlessed: 8:24am On Dec 02, 2023
And it continues the downward trend. Someone play that song 'which way Nigeria' for me.

1 Like 1 Share

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by benardtotti(m): 8:25am On Dec 02, 2023
ezekins:
I have been saying it in as much as the government of nigeria has irrationally decided to float naira, we can wake up one day to see that official rate had gone to #2000. If they have sense let them stop naira float. This government lack ideas

Ok so what is the alternative for the fg if they don't float it? Pls note subsidising the naira is not an option as there is not enough money to do that , so what alternative will you proffer?

1 Like

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by gbaskiboy: 8:26am On Dec 02, 2023
Tsolutionifede:
shut up lie lie Igbo boy, whatever that is happening, Peter obi will be worst off
is it empty barrel without intellectual that wants to become president by all means you expect to perform miracle?

4 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by bigiyaro(m): 8:27am On Dec 02, 2023
SouthEastFacts:
And Tinubu pegged the dollar in his budget to $750?

Each day reveals what the best of Yoruba brains are capable of.

🤣🤣🤣
And this same morafvckars were protesting against #250/1$ in 2015.

7 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Eriokanmi: 8:27am On Dec 02, 2023
Where are those shouting Tinubuuuuul? grin

2 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by HeroicMeastro: 8:28am On Dec 02, 2023
fnep2smooth:
I'm not praying for my beloved country to fall but since we never decided to choose the right people to make drastic decisions for the good of the country, let it fall yakata.

As a Google boy, Google credit me with block last month, something I use to see like 40k as of early this year. Omo I see 90k+ area scatter.


Abeg make nobody DM me, tribalism comments for there don make me dey mean.

😣😣
So what drastic decisions are the "good leaders" supposed to take?
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by ImDStar: 8:29am On Dec 02, 2023
This is poverty infused thinking.
You can't be thinking right and still be supporting uselessness.

Tsolutionifede:
shut up lie lie Igbo boy, whatever that is happening, Peter obi will be worst off

10 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Eriokanmi: 8:29am On Dec 02, 2023
ezekins:
I have been saying it in as much as the government of nigeria has irrationally decided to float naira, we can wake up one day to see that official rate had gone to #2000. If they have sense let them stop naira float. This government lack ideas
We lagosians knew why we didn't vote tinubu despite being from the state. Na those wey dey outside fall for his lies and propaganda about the development of Lagos. Even the tax he introduced ended up favouring him as he employed his own company to collect it. He only declares whatever amount he feels like and nobody dares question him, except that person is tired of life. But we warned them.

He didn't even score that amount of votes awarded to him but its OK. Elections are over already.

9 Likes 1 Share

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by michlins(m): 8:29am On Dec 02, 2023
Tsolutionifede:
shut up lie lie Igbo boy, whatever that is happening, Peter obi will be worst off
we will never know now right?

3 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by jonadaft: 8:31am On Dec 02, 2023
fnep2smooth:
I'm not praying for my beloved country to fall but since we never decided to choose the right people to make drastic decisions for the good of the country, let it fall yakata.

As a Google boy, Google credit me with block last month, something I use to see like 40k as of early this year. Omo I see 90k+ area scatter.


Abeg make nobody DM me, tribalism comments for there don make me dey mean.

😣😣
What most of you are not reasoning to think is that, that 40k last year even better pass this year 90k.
Last year, indomie carton na around 3k, now, na 5k+

4 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Elinosweet143(f): 8:31am On Dec 02, 2023
I read through the comments and I hear people talk about voting right, now the question is did people's vote count? This guys obviously snatched the power and manipulated the gullibles into tribal war to cover up their acts to the point that some people wish they didn't vote for who they voted for.... will our votes ever count in Nigeria?

2 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Zeebuy: 8:36am On Dec 02, 2023
Oh his mandate we shall kpai!
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by PrettyIfy7: 8:37am On Dec 02, 2023
Yet FG wants to use 15billion naira to build house for vp shetima.
Nairaland doesn't want to publish the news.

4 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Zeebuy: 8:38am On Dec 02, 2023
GanagiBitrus:

Managing this entity called Nigeria is simply not working.

Can't we try something different like RESTRUCTURING:- Let there be True Federalism & greater devolution of powers to the States & where every State controls its resources.
It will make many States to look inwards & strive to be self-sufficient.

You will be surprised by the progress made by each State after 10years.

You think your government don't know this'll help the country grow?

What exactly makes you guys think your government doesn't know what to do to make your country grow?
They know, but they won't do it. They need you guys poor so they can control y'all

2 Likes

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by KwuoteYourFada: 8:39am On Dec 02, 2023
Yaliba

The overated tribe

Tinubu go cast Una Las Las

1 Like

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by StraightGaay: 8:40am On Dec 02, 2023
fnep2smooth:
I'm not praying for my beloved country to fall but since we never decided to choose the right people to make drastic decisions for the good of the country, let it fall yakata.

As a Google boy, Google credit me with block last month, something I use to see like 40k as of early this year. Omo I see 90k+ area scatter.


Abeg make nobody DM me, tribalism comments for there don make me dey mean.

😣😣
Pls I be your brother
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Brushstrokes20: 8:40am On Dec 02, 2023
# eBOLA on rampage😉
The shyyythole from fry pan to FIRE 🔥

1 Like

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by DKM123: 8:41am On Dec 02, 2023
Soon Agbadoist like that scammer Victor Omerigwe with numerous moniker like TrustNone will briefly remove thier heads from inside the anu..s of thiefffnubu to announce on this thread that it's for the good of Nigerians. Ask them how? They can't explain the voodoo economics to save thier lives.

Yet gullible sufferhe@ds keep falling for it. Madt people everywhere

2 Likes 1 Share

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Zeebuy: 8:42am On Dec 02, 2023
Tsolutionifede:
shut up lie lie Igbo boy, whatever that is happening, Peter obi will be worst off
Dey there dey look Peter Obi, who is a dollar billionaire.
Very soon, una go start to dey chop grass. You bloody fools don't every learn and so you deserve all the suffering your useless leaders unleash on y'all.

4 Likes 2 Shares

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by We4all: 8:45am On Dec 02, 2023
fnep2smooth:
I'm not praying for my beloved country to fall but since we never decided to choose the right people to make drastic decisions for the good of the country, let it fall yakata.

As a Google boy, Google credit me with block last month, something I use to see like 40k as of early this year. Omo I see 90k+ area scatter.


Abeg make nobody DM me, tribalism comments for there don make me dey mean.

😣😣

At the bolded, naira or dollars?
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Britishpea: 8:46am On Dec 02, 2023
ezekins:
I have been saying it in as much as the government of nigeria has irrationally decided to float naira, we can wake up one day to see that official rate had gone to #2000. If they have sense let them stop naira float. This government lack ideas
Floating of naira is a great skill to combat racketeering in the exchange market. But I would say that it’s putting the right peg in a wrong hole. As usual, like the Buharis govt that closed the borders against the rice without us having enough rice produce here in Nigeria, Tinubu is tolling the same route for now because Nigerians who control th scope of things are crazy and huge in numbers with so much economic and political powers.

Nigeria is dollar driven economy before now and still right now, the exchangers are powerful and are in numbers. They can manicure the market(these people are not th abokis but the top bank officials that are friends to the govts and supply the politicos with stacks of dollars)The politicians believe in hoarding of dollars in hundreds of millions in their safes at home, in preparation for the future election and futuristic sake than Naira refineries are not working yet. Japa continues.


I would say that the gamut of things is that all these things be addressed, (even though it’s so difficult in a country that has no working institution where there are less patriots)before the floating of naira started or continues,else it would be an aberration. However, the pegging of dollars requires a huge fund which, I initially thought that the goventmt didn’t want to follow th way of Buhari by borrowing. But, hearing about readiness to borrow a huge sum now puts our minds in a fix.


In all honesty, th country has produced a lot of bad people over time, for a long period of time because of the neglect from the govt and lackadaisical attitude that heralded because they, too wanted to keep looting. And as of today, we have so much bad people in the waiting list to join thr clique. It’s what it’s
Right now, as much as I like Tinubu, I would say that they are still test running things. They have a diagnose already but they are trying different treatments. Time will tell!
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Kukutenla: 8:54am On Dec 02, 2023
Tsolutionifede:
shut up lie lie Igbo boy, whatever that is happening, Peter obi will be worst off
But what is wrong with you idiots like this
Are you saying the economy is bad because igbo don't like Tinubu?
Is Obi the president? Make una dey use brain do this thing na

2 Likes 1 Share

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Kukutenla: 8:55am On Dec 02, 2023
nairalanda1:
What do Japan, South Korea, China, the EU, USA, UK, Norway , Russia, and Switzerland all have in common?

They are ALL exporters of MANUFACTURED GOODS AND SERVICES.

And until Nigeria becomes one of them, we cannot have a strong currency.
Of shut it zombie
Always making excuses for govt ineptitude
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Faposky95: 8:55am On Dec 02, 2023
Zimzy:
Hmmm. And they kept on bringing new policies they believe will correct the exchange rate but always leads worsening situation.


when a leak is located on a ship....wat those the crew do.....?
In our case, the captain says keep going.....now the hole is bigger, he says take in more baggage and passengers.
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Kukutenla: 8:56am On Dec 02, 2023
Kobicove:
The only way to stem the continuous depreciation is for the country to vigorously engage in export of goods and services so as to earn more of forex
We can also shoot politicians hoarding forex dead
One of them was caught stuffing dollars in babanriga
He's now a party chair
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by lastkingsman: 8:57am On Dec 02, 2023
BigDawsNet:
Cost of living get higher daily..

Nigerians needs to come together and voye in the right person... all tribalism won't solve anything

Lmao grin

Nigerians need to revolut and bring the country to a stand still. If you think your votes count after how APC rigged 2023 elections then I don't know what you are smoking

A clear example is what Nyesom Wike did for APC in Rivers State. Your pvc is useless.

When APC is done reclaiming Kano via the Judi-sharing (of dollars), BAT will do eight years successfully and hand over to Ganduje (Gandollars) maybe with Akpabio (pounds) / Wike (projects) as VP.

The country is on an auto cruise to hell

3 Likes 1 Share

Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Kukutenla: 8:57am On Dec 02, 2023
Whalis:
Japa effect . Our leaders think dollar driven importation is the sole cause of the depreciation of naira. This is absolutely erroneous. Nigeria has been importing since independence and naira had been relatively strong and stable.
Naira started a free fall when our leaders turn cannibals and citizens as other animals would do started to migrate en masse. Everyone travelling needs to buy dollars. Check the number of people who have traveled and calculate the amount of dollars needed for such transactions.
True
But same people still repatriate forex when they get there so it's a two way thing
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by tsdarkside(m): 8:59am On Dec 02, 2023
yeah,throw money at issues as una like,it will still not change anything....

produce more or pay international price like all others in the world....

dont try to stabilize the naira....it will cost too much at the end....let it fall....
Re: Naira Continues Free Fall, Depreciates By 11% To N927.19/$ At Official Market by Farki: 8:59am On Dec 02, 2023
Naira is 64 for Yoruba Ronu, 900 for the rest of us. Sai Tinubu! cheesy

1 Like 1 Share

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