For past months now, sum has been releasing to clear FC backlog, still Naira d devaluation

Paraman:
How much this backlog remain like this now?

My question exactly, i just want it all cleared as soon as possible.

-kiss the truth!

With all the grammar of cbn dollar is 1500 as of today, which means naira has depreciated 100% since buhari left which is just 7months, buhari left dollar at 750 in the black market today it’s 1500, let’s clap for emilokan.

Dialpad:
Whats the implication of this ? The rate is way too high...

The implication is Nigerians are not productive. We are too reliant on imports

We feel.entitled to those imports for no reason When we produce next to nothing that anyone wants to buy

jmoore:


CBN will sell dollar above 1,000 naira before June this year.

Save this post.

No be every nonsense you go dey reply
Let the clown keep deceiving himself

Mynd44:
To those telling people to dump the Naira and those listening to them, pray you don't end up buying dollar at an amount you won't want to sell it

Lol, it is only momentarily. It will still go back to business as usual.

Until the fundamentals are addressed the naira will continue the free fall.

Abeg pay Emirates their money, make person go Dubai jor !

EconomistXplain:


yea...shld i...?

Please do

Error401:
Now dollar will drop again. Since there are no foreign investments, It will still rise in 2 months. Its the best time to buy Dollars.

Our major import is pms... with the refineries working... we don't need to import again... naira will gain massively...

Aboki at Allen are waiting for the 500m USD forex intervention fund

BigDawsNet:


Our major import is pms... with the refineries working... we don't need to import again... naira will gain massively...

Dream on.. no it's not pms

Curious345:


Dream on.. no it's not pms

Okay na tooth pick

Mynd44:
To those telling people to dump the Naira and those listening to them, pray you don't end up buying dollar at an amount you won't want to sell it

Na today we don dey hear this gospel. Keep Naira at your own peril.
Its getting to N2000/1$ before the end of this year.

All these fire brigade approach can't work

Mynd44:
To those telling people to dump the Naira and those listening to them, pray you don't end up buying dollar at an amount you won't want to sell it

Is this all you know about the current forex bruhaha?

The negativity of some Nigerians, you can't help but wonder if they truly desire progress for the country.

BigDawsNet:
Don't Buy Dollar to keep!!!!!

As soon as the both refineries begin the process of PMS Distribution and Exports... the dollar will come down and stabilise...

No talk say I no tell una oh...

Predictions says it could stay around 800 to 850 in both markets...

Talk to your account officer or finicial advisor before u invest

Don't expect that to happen yet. The reason why Dangote refinery won't have any significant positive impact yet on the Naira is because the refinery was financed by International Banks using foreign currencies.

To understand this better. Assume you own a pig farm that got finance by BNP PARIBAS France and you got a $1m loan.
Your intention is to sell locally and export to neighboring African countries. In as much as you are selling in Naira which is suppose to strengthen the Naira, you are also using that Naira to mop up US Dollar which your country does not have enough of to pay back BNB PARIBAS France whom you obtained the loan from. This will be putting a lot of pressure on the Naira until your debt is fully paid off.

As business man, the logical thing to do is to ditch the Naira and sell in Dollars until your debt is fully paid. But no, your government wants you to sell in Naira.

So don't expect Dangote refinery to be your salvation. What we need is pure local content financed by local content that has international demand to quickly revive the Naira

BigDawsNet:
Don't Buy Dollar to keep!!!!!

As soon as the both refineries begin the process of PMS Distribution and Exports... the dollar will come down and stabilise...

No talk say I no tell una oh...

Predictions says it could stay around 800 to 850 in both markets...

Talk to your account officer or finicial advisor before u invest

How do you even arive at this? You think dollar will go back to 800? 🫢

Curious345:
Aboki at Allen are waiting for the 500m USD forex intervention fund

Aboki is waiting for which $500m? Did you even go through the article at all?

Jlow2:
With all the grammar of cbn dollar is 1500 as of today, which means naira has depreciated 100% since buhari left which is just 7months, buhari left dollar at 750 in the black market today it’s 1500, let’s clap for emilokan.

Is Buhari not better than this calamitous Tinubu

Hmmm

hopefully

BigDawsNet:


Our major import is pms... with the refineries working... we don't need to import again... naira will gain massively...

kelvyn7:


How do you even arive at this? You think dollar will go back to 800? 🫢

You don't want it to go down?

D4gmail1:


Don't expect that to happen yet

Not yet... but it will happen...

I want to believe all these backlog we have been struggling to clear happened during Meffy, and yet someone opened on useless thread this morning telling us that Meffy said if he did free float dollar will increase. If he did not have any backlog will we be where we are today?

Mynd44:
To those telling people to dump the Naira and those listening to them, pray you don't end up buying dollar at an amount you won't want to sell it

You are owing Billions of Dollars in backlog, you released 500m and you think that will increase the value of the Naira? How many % appreciation did the Naira do against the Dollars when Afrexim bank loan was secured?

Expect $1 to be ₦2000 soon.


Such a clueless country! And believe you me, that sum is gone.

jmoore:


CBN will sell dollar above 1,000 naira before June this year.

Save this post.

Gbamsulotely, and dollar to naira will likely end up to between 1700 to 2000 naira on or before December'2024

Telltruth123:
I pray it boost our economy, we just want to see positive improvement in our economy.

lol.. telltruth doesn't want to tell himself the truth. The $2b the report said was earlier released did not make the rate drop or lead to positive improvement, but you somehow believe the 500m which is a quarter of said 2b would magically do that. Lol

E Ku adura o. Carry on...

H2ho:
dollar don go back 1k now now

Story the guy nor even shake.

Naira will continue to fall as long as our politicians continue to embezzle the treasury with carelessness, by not utilising the little money will make as a country, do you think nigeria is rich? The answer is NO but Nigeria has potentials to be rich which I agree, Nigeria budget is not upto a region in france which is like a state in nigeria. What a serious govt need to do is to reduce all avenue of corruption in wasteful manners, and also try to be creative in generating more revenue to the economy, by doing this, there will be more productions enough for both local and foreign demands and consumptions with this, the naira will be stabilised.