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Naira Rebounds As Banks Offload Excess Dollars - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Rebounds As Banks Offload Excess Dollars (49024 Views)

CBN Orders Banks To Sell Excess Dollars In 24 Hours / Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market / Traders Lose As Naira Rebounds To 720/Dollar (2) (3) (4)

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Re: Naira Rebounds As Banks Offload Excess Dollars by hustla(m): 9:26pm On Feb 02
dettolgel:
We need a lasting solution not a temporary one. Once they offload the dollars what next?


I tire for them!
Re: Naira Rebounds As Banks Offload Excess Dollars by anonymous1759(m): 9:27pm On Feb 02
DrChukki:


I don't know why you're crying like a foul... I know you've not even seen dollar in the past 6 years except in photo...

By the way, your demi-god Tinubu is already a failure... By God's grace I will continue laugh at you and your generation because this government has nothing to offer

He bought over 300 imported cars with dollars now wants banks to release their dollars... Just calm down, the money banks released will finish by next week, then dollar will jump to 5k

Olodo


Broad day light wizard shameless spine , as long as Your happiness is tied down to the down fall of Nigeria you’ll never be happy and laugh it’s not a cause election loss is not madness.
Re: Naira Rebounds As Banks Offload Excess Dollars by anonymous1759(m): 9:30pm On Feb 02
Agboriotejoye:

Sounds exactly like what APC did.
Are you not a supporter

So it’s only Apc that’s making the dollar rise? All the Abokis, banks staffs doing runs hoarding dollars are all APC? It’s obvious your criticism is tied to hatred, it’s not constructive.
Re: Naira Rebounds As Banks Offload Excess Dollars by reucom: 9:33pm On Feb 02
Faiththatworks:
I have been asking this question since last week,and I really need some Intelligent Nigerians to please educate me.
What's causing the downward spiral of the Naira to the Dollar, Can the CBN and the Banks please release the industries where the dollar demand is coming from.
I can say for a fact that NNPCL already told us petrol is no longer subsided,all diesel and Aviation fuel importers have given them selves some sense and have totally reduced their importation because of the Dangote Refinery.
Even Manufactures have reduced importation of essential raw materials,from Drugs to household essentials,everyone is cutting back on importation cos of the high Usd,so what's causing the spike in Demand.
My economic theory is very simple and I hope I get some Intelligent rebuttals,anyone buying Usd this high at 1$ to 1400,will never make a profit on whatever they import.
No right thinking importer will do business at such a ridiculous rate and still expect to make a profit,so who's buying this Usd.
I daresay this spiral is just open ended round tripping,the banks and the bureau are really the ones buying and selling this Usd,they create an artificial supply and demand bogus economy just to milk the Nigerian economy.
EFCC,NSA,ICPC should categorize these people as Economic Terriorist and treat them as such.
God bless Nigeria.

You are making a lot of sense 👍

1 Like

Re: Naira Rebounds As Banks Offload Excess Dollars by Agboriotejoye(m): 9:36pm On Feb 02
anonymous1759:


So it’s only Apc that’s making the dollar rise? All the Abokis, banks staffs doing runs hoarding dollars are all APC? It’s obvious your criticism is tied to hatred, it’s not constructive.
I'm not even talking about that.
I'm talking about your admonition not to sabotage our country for selfish gains
Fayemi said 2012 anti-subsidy removal protest was just politics
Ganduje said making Sanusi emir was just to spite GEJ
Kawu Baraje said Fulani terrorists we're led into Nigeria pre-2015 elections to form a bulwark for insecurity in case APC lost
APC condemned 216 naira to a dollar
Those are the things I'm referring to.

3 Likes

Re: Naira Rebounds As Banks Offload Excess Dollars by Loonyy(m): 9:44pm On Feb 02
gaby:
There are still more looted nairas warehoused by the ruling rogues to swallow the dollars up. After that, what next?

Back to square one yet again of course.

FX mopped out of the banking system and economy to be warehoused while Naira boku yafunyafun to dey gallop on the streets.

Very soon, na wheelbarrow load of Naira people go dey carry go buy a loaf of bread.

Do you guys even realize that most of the crooks in this country have their personal printing mills for the easily manipulated Naira? This is aside from the "print and pocket" that had been going on like forever at the nation's security and printing press.

Someone needs to ask the CBN to tell us how much of the Naira is currently in circulation and who holds what. Let's start from here as the basics.

Listen Nigerians...

There needs to first of all things be a "Country", followed by a "Citizenry", and then a "Leadership", before an " Economy" follows suit, in this order.

Now, in all honesty, and telling yourself the hard truth, do we have a country? Is Nigeria as it currently stands or had been truly the definition of a country?

The vicious cycle is going to no end.

Make everybody plan him life accordingly oh.

Buhari got in there and realized this and possibly decided to look the other way to allow his kits and kins stockpile as much as they can from the commonwealth for security purposes.

Tinubu is in right now and it has dawned on him that the case is a hopeless one and perhaps the best he can do is also to allow his kiths and kins stockpile their own share for security's sake. His body language and " I don't care" attitude should be a pointer to this fact.

Hopefully, other regions will be given a chance to take their own share and stockpile for a head start when the inevitable happens.

Make una shine una eyes...

Nothing remain for Nigeria. Even the crude oil has been collateralized into the future against loans we can't repay.


The best comment of the year goes to you Bros

U no dey close I for share 1 chilled bottle of Trophy with u

U honestly have said it all


The country.....to economy picture paints it all

2 Likes

Re: Naira Rebounds As Banks Offload Excess Dollars by Faposky95: 9:53pm On Feb 02
Paraman:


https://punchng.com/naira-rebounds-as-banks-offload-excess-dollars/?amp

How do such sound bites correlate with the present economy austerity.....?
Check, if gari no go back to #800 per paint or egg to big one #100 or 1kg kote #1000.....
Na long ting you, yes, you readers are on.......
Re: Naira Rebounds As Banks Offload Excess Dollars by Loonyy(m): 9:53pm On Feb 02
Information creates stability in the market
But no be for this Dollar Marras


Naira fall YAKATA

It requires rocket science to revive it
Re: Naira Rebounds As Banks Offload Excess Dollars by anonymous1759(m): 10:00pm On Feb 02
Agboriotejoye:

I'm not even talking about that.
I'm talking about your admonition not to sabotage our country for selfish gains
Fayemi said 2012 anti-subsidy removal protest was just politics
Ganduje said making Sanusi emir was just to spite GEJ
Kawu Baraje said Fulani terrorists we're led into Nigeria pre-2015 elections to form a bulwark for insecurity in case APC lost
APC condemned 216 naira to a dollar
Those are the things I'm referring to.



I’ll make reference to what Fayose said , I won’t say anything about the leading Fulani to Nigeria that’s ambiguous.
Politicians will always be politicians, if GEJ was the opposition he will also do the same thing to claim power we’re talking about politics here not the situation of Nigeria.

I still blame GEJ partially he didn’t have a good PR team to sell his ideas of subsidy removal and the rest that happened, many people who supported APC then didn’t do it out of tribalism. APC’s PR was top notch.

but accusing Everyone who supports Apc as tribalist or enemies of Nigeria is wrong ,
The best countries still have oppositions, without oppositions we will be having one party government let's leave that aside for politicians.

I’d two people that traveled for this Xmas to Lagos , one from Jos , the other from Asaba, guess the Amt? From jos to Lagos 18k while from Asaba is 25k but these drivers will tell you it’s because of the increase in fuel .

If you try to book flight tickets from the USA to Nig it’s not up to $1500. It’s about $500-600 or less , before naira fell flight tickets from neighboring countries are cheaper to USA or Uk you can verify . The list goes on like that . We do things to hurt ourselves to spite Nigeria not realizing we’re the Nigerians ourselves.

Some of us qknow these things happening are artificial but because of election differences we pretend and contribute to the rot in our own way to the extent some people wish the country bad so they can laugh. They can’t separate politics from other things .
I’ve leant to respect people’s choices regardless.

1 Like 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by adonainana: 10:07pm On Feb 02
Jesus Christ of Nazareth who runs this country.

Nigeria must grow itself out of the problems it currently finds itself. Banning 43 items won’t help, mopping up extra dollars in the banks won’t help, even Dangote refinery won’t help.

WE MUST DIVERSIFY THE ECONOMY.

The maths and economics behind this is simple. You import so much and you export just oil thus leaving you with a balance of trade deficit.
Even the oil you claim you export , you cannot refine it properly hence you have to sell the crude oil to countries that can refine it and you buy (IMPORT) it back.

What a waste.

WHY NOT DIVERSIFY THIS ECONOMY FOR CRYING OUT LOUD

INSTEAD of corpers shouting corper wee wee at camps from morning to night . CONVERT ALL NYSC camps to COCOA processing and packaging centres .

Incentivise corpers who are willing to go extra mile and become Agro prenurs by tripling their monthly allowance . Leave the corpers who are looking for white collar job after service alone

Grow cucumbers, lettuce, oranges, pineapples,

ONCE EVERY NYSC camp has been converted to a farming centre send entourages to Europe to look for buyers

Yes NIGERIAN CUCUMBERS, NIGERIAN COCOA, NIGERIAN ORANGES , in tons in their millions

See how much rain falls in this blessed land. Almost every single crop can grow here

Uk imports bananas all the way from South Africa and panama . PLEASE PEOPLE OF GOD. Which country is closer to the UK by sea. Panama or
South Africa

If European countries are NOT COOPERATING and done want imported NIGERIAN COCOA , NIGERIAN BANANAS CLOSE DOWN THIER EMBASSIES or better still sell part of NNPC to them and in return they must buy Nigerian cocoa .

Do you know how many coffee making companies in Europe need cocoa to make coffee and chocolate

AGRICULTURE IS FREE.

Build more NYSC camps and simply extend the scheme to poly graduates and do the same offer them big money to make them and work for the Cocoa farms and the banana Plantations.

The NYSC camps in the south can manufacture tons of food for export

The NYSC camps in the north can manufacture similar food groundnut, wheat etc for export

The Nigerian government in Abuja ensures this products are exported with speeed

What’s wrong with THE UK ONLY IMPORTING BANANAS from Nigeria

What’s wrong with going to France and seeing only imported Nigerian carrots

WHY OIL FOR GODS SAKE

Agriculture is free ,
Sunshine is free
Rain is free

Oil you need to go and first find it , extract the crude oil , find a way to go and refine it , THEN YOU CAN ONLY SELL THE refined oil the price OPEC is selling a barrel at the time of the date. The price of oil is pegged at the international market .

NIGERIA NIGERIA PLEASE WHY GO THROUGH THIS STRESS

PLEASE PLEASE DIVERSIFY THIS ECONOMY.

Go back to what you did before you discovered oil and the oil cursed you , and 50 years on the curse is visible .

Human beings eat and most human beings eat food that are grown inside the ground

No matter how rich a country is in oil , it most import it’s good from somewhere

Do you know how much arable land Nigeria alone has in the south .

Why are we wasting our time with this oil nonsense

Even if it’s bananas

Even if it’s mangoes

At least we know we officially supply another country mangoes and bananas full stop

Converting NYSC camps into mega farms and processing centres where rural farmers can sell their produce and from there the National government can use its power to get it out of the country to sell .

IF ELECTION MATERIALS can get anywhere surely rural farmers can get their produce to the nearest NYSC CAMP that would now serve as mega centres

Even local airports in Nigeria part of it can be conveyed to mega processing farms so some produce can easily be flown to Lagos ports

Please if any one with links to the FG in Abuja can see this . This is not just a passionate plea or advice. THIS IS WHAT WOULD SOLVE NIGERIA PROBLEM ONCE AND FOR ALL

Please we must grow our exports . Agriculture is the only area of
Life where you grow money in the soil.

There is a saying that a farmer can never be poor now imagine a country that exports food to feed the other countries

Please leave Dangote to be selling his own jeje and diversify the economy

Please I am pleading

Regards
Barrister Akinola Samuel Eluyefa
+447591683924

2 Likes 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by Regex: 10:07pm On Feb 02
anonymous1759:




I’ll make reference to what Fayose said , I won’t say anything about the leading Fulani to Nigeria that’s ambiguous.
Politicians will always be politicians, if GEJ was the opposition he will also do the same thing to claim power we’re talking about politics here not the situation of Nigeria.

I still blame GEJ partially he didn’t have a good PR team to sell his ideas of subsidy removal and the rest that happened, many people who supported APC then didn’t do it out of tribalism. APC’s PR was top notch.

but accusing Everyone who supports Apc as tribalist or enemies of Nigeria is wrong ,
The best countries still have oppositions, without oppositions we will be having one party government let's leave that aside for politicians.

I’d two people that traveled for this Xmas to Lagos , one from Jos , the other from Asaba, guess the Amt? From jos to Lagos 18k while from Asaba is 25k but these drivers will tell you it’s because of the increase in fuel .

If you try to book flight tickets from the USA to Nig it’s not up to $1500. It’s about $500-600 or less , before naira fell flight tickets from neighboring countries are cheaper to USA or Uk you can verify . The list goes on like that . We do things to hurt ourselves to spite Nigeria not realizing we’re the Nigerians ourselves.

Some of us qknow these things happening are artificial but because of election differences we pretend and contribute to the rot in our own way to the extent some people wish the country bad so they can laugh. They can’t separate politics from other things .
I’ve leant to respect people’s choices regardless.

To summarise what you have stated in a few words or sentences:

Nigerians think the government is made up of a government and not fellow Nigerians. We Bleep ourselves up and blame the government. The government Bleep us up and still blame the government as though the government is an entity on its own. A being with life force of its own.

2 Likes 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by anonymous1759(m): 10:18pm On Feb 02
Regex:


To summarise what you have stated in a few words or sentences:

Nigerians think the government is made up of a government and not fellow Nigerians. We Bleep ourselves up and blame the government. The government Bleep us up and still blame the government as though the government is an entity on its own. A being with life force of its own.


If you see things from a different Angle you get insulted online or almost get lynched.
If we want a moving country first there must be loyalty regardless, Nigeria’s problem is complex.

Nigeria is messed up because we sell ourselves out of greed , developed countries steal from other countries to do develop themselves, while Nigerians steal from Nigerians to develop other countries and their personal selves .

As a trader or an employee if you don’t maximize your profit you ain’t different from the leaders occupying offices .

If you’re supposed to sell something for me for 10k , which is the original price I budgeted for , if you sell it for 15-20k , I’ll definitely look for who to steal or cheat from to replace the extra cash I didn’t budget for the circles goes on .
Re: Naira Rebounds As Banks Offload Excess Dollars by nedekid: 10:18pm On Feb 02
BenuePolitician:
Operation save Naira fall: what to do? (1) Exchange all Dollars and foreign currency in your possession to Nigerian Naira. (2) stop making payments in any currency other than Naira (3) All foreign payments and transaction be carried out in Local Naira angry
Lolz, sabinus.
Re: Naira Rebounds As Banks Offload Excess Dollars by Boldideas: 10:26pm On Feb 02
Paraman:


https://punchng.com/naira-rebounds-as-banks-offload-excess-dollars/?amp

If this dollar exchange rate is fixed back to GEJ era at N187 to a dollar, what will happen exactly? Can someone please explain....

1 Like 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by RealityGod: 10:47pm On Feb 02
Faiththatworks:
I have been asking this question since last week,and I really need some Intelligent Nigerians to please educate me.
What's causing the downward spiral of the Naira to the Dollar, Can the CBN and the Banks please release the industries where the dollar demand is coming from.
I can say for a fact that NNPCL already told us petrol is no longer subsided,all diesel and Aviation fuel importers have given them selves some sense and have totally reduced their importation because of the Dangote Refinery.
Even Manufactures have reduced importation of essential raw materials,from Drugs to household essentials,everyone is cutting back on importation cos of the high Usd,so what's causing the spike in Demand.
My economic theory is very simple and I hope I get some Intelligent rebuttals,anyone buying Usd this high at 1$ to 1400,will never make a profit on whatever they import.
No right thinking importer will do business at such a ridiculous rate and still expect to make a profit,so who's buying this Usd.
I daresay this spiral is just open ended round tripping,the banks and the bureau are really the ones buying and selling this Usd,they create an artificial supply and demand bogus economy just to milk the Nigerian economy.
EFCC,NSA,ICPC should categorize these people as Economic Terriorist and treat them as such.
God bless Nigeria.

The political class from the last election used USD as the currency for campaign. How are you sure the plan for 2027 has not started with stockpiling of USD to play the same card? Just thinking aloud shaaa.

1 Like 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by RealityGod: 10:54pm On Feb 02
adonainana:
Jesus Christ of Nazareth who runs this country.

Nigeria must grow itself out of the problems it currently finds itself. Banning 43 items won’t help, mopping up extra dollars in the banks won’t help, even Dangote refinery won’t help.

WE MUST DIVERSIFY THE ECONOMY.

The maths and economics behind this is simple. You import so much and you export just oil thus leaving you with a balance of trade deficit.
Even the oil you claim you export , you cannot refine it properly hence you have to sell the crude oil to countries that can refine it and you buy (IMPORT) it back.

What a waste.

WHY NOT DIVERSIFY THIS ECONOMY FOR CRYING OUT LOUD

INSTEAD of corpers shouting corper wee wee at camps from morning to night . CONVERT ALL NYSC camps to COCOA processing and packaging centres .

Incentivise corpers who are willing to go extra mile and become Agro prenurs by tripling their monthly allowance . Leave the corpers who are looking for white collar job after service alone

Grow cucumbers, lettuce, oranges, pineapples,

ONCE EVERY NYSC camp has been converted to a farming centre send entourages to Europe to look for buyers

Yes NIGERIAN CUCUMBERS, NIGERIAN COCOA, NIGERIAN ORANGES , in tons in their millions

See how much rain falls in this blessed land. Almost every single crop can grow here

Uk imports bananas all the way from South Africa and panama . PLEASE PEOPLE OF GOD. Which country is closer to the UK by sea. Panama or
South Africa

If European countries are NOT COOPERATING and done want imported NIGERIAN COCOA , NIGERIAN BANANAS CLOSE DOWN THIER EMBASSIES or better still sell part of NNPC to them and in return they must buy Nigerian cocoa .

Do you know how many coffee making companies in Europe need cocoa to make coffee and chocolate

AGRICULTURE IS FREE.

Build more NYSC camps and simply extend the scheme to poly graduates and do the same offer them big money to make them and work for the Cocoa farms and the banana Plantations.

The NYSC camps in the south can manufacture tons of food for export

The NYSC camps in the north can manufacture similar food groundnut, wheat etc for export

The Nigerian government in Abuja ensures this products are exported with speeed

What’s wrong with THE UK ONLY IMPORTING BANANAS from Nigeria

What’s wrong with going to France and seeing only imported Nigerian carrots

WHY OIL FOR GODS SAKE

Agriculture is free ,
Sunshine is free
Rain is free

Oil you need to go and first find it , extract the crude oil , find a way to go and refine it , THEN YOU CAN ONLY SELL THE refined oil the price OPEC is selling a barrel at the time of the date. The price of oil is pegged at the international market .

NIGERIA NIGERIA PLEASE WHY GO THROUGH THIS STRESS

PLEASE PLEASE DIVERSIFY THIS ECONOMY.

Go back to what you did before you discovered oil and the oil cursed you , and 50 years on the curse is visible .

Human beings eat and most human beings eat food that are grown inside the ground

No matter how rich a country is in oil , it most import it’s good from somewhere

Do you know how much arable land Nigeria alone has in the south .

Why are we wasting our time with this oil nonsense

Even if it’s bananas

Even if it’s mangoes

At least we know we officially supply another country mangoes and bananas full stop

Converting NYSC camps into mega farms and processing centres where rural farmers can sell their produce and from there the National government can use its power to get it out of the country to sell .

IF ELECTION MATERIALS can get anywhere surely rural farmers can get their produce to the nearest NYSC CAMP that would now serve as mega centres

Even local airports in Nigeria part of it can be conveyed to mega processing farms so some produce can easily be flown to Lagos ports

Please if any one with links to the FG in Abuja can see this . This is not just a passionate plea or advice. THIS IS WHAT WOULD SOLVE NIGERIA PROBLEM ONCE AND FOR ALL

Please we must grow our exports . Agriculture is the only area of
Life where you grow money in the soil.

There is a saying that a farmer can never be poor now imagine a country that exports food to feed the other countries

Please leave Dangote to be selling his own jeje and diversify the economy

Please I am pleading

Regards
Barrister Akinola Samuel Eluyefa
+447591683924


Beautiful proposal.
However,
Sir, the biggest challenge now to rising food cost in Nigeria is not Dollar but security challenges of Fulani herdsmen. If all what you have said is implemented and the security issues are not resolved, this guys will go to the NYSC farms and wipe the people off. The issue with Nigeria is multidimensional. But security is now the most pressing.

1 Like

Re: Naira Rebounds As Banks Offload Excess Dollars by Agboriotejoye(m): 11:10pm On Feb 02
anonymous1759:




I’ll make reference to what Fayose said , I won’t say anything about the leading Fulani to Nigeria that’s ambiguous.
Politicians will always be politicians, if GEJ was the opposition he will also do the same thing to claim power we’re talking about politics here not the situation of Nigeria.

I still blame GEJ partially he didn’t have a good PR team to sell his ideas of subsidy removal and the rest that happened, many people who supported APC then didn’t do it out of tribalism. APC’s PR was top notch.

but accusing Everyone who supports Apc as tribalist or enemies of Nigeria is wrong ,
The best countries still have oppositions, without oppositions we will be having one party government let's leave that aside for politicians.

I’d two people that traveled for this Xmas to Lagos , one from Jos , the other from Asaba, guess the Amt? From jos to Lagos 18k while from Asaba is 25k but these drivers will tell you it’s because of the increase in fuel .

If you try to book flight tickets from the USA to Nig it’s not up to $1500. It’s about $500-600 or less , before naira fell flight tickets from neighboring countries are cheaper to USA or Uk you can verify . The list goes on like that . We do things to hurt ourselves to spite Nigeria not realizing we’re the Nigerians ourselves.

Some of us qknow these things happening are artificial but because of election differences we pretend and contribute to the rot in our own way to the extent some people wish the country bad so they can laugh. They can’t separate politics from other things .
I’ve leant to respect people’s choices regardless.
Well, you just made excuses for politicians. It seems you're saying it's ok to sabotage the country as long as you're politician and you're doing it to gain political power.
That's an absurd thing to say because it is politicians who are supposed to fix the country. At least that's what they campaign for.
The ordinary man you're accusing just wants to make money too. That's their excuse just as you're making excuses for politicians who sabotage the country that they just want to play opposition.
That said, Baraje's claim is something that far worse than what you're accusing ordinary people of. Yet your claim it's ambiguous.
You need to change your mindset.

1 Like 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by jaxxy(m): 11:21pm On Feb 02
Utter Rubbish
Re: Naira Rebounds As Banks Offload Excess Dollars by anonymous1759(m): 11:23pm On Feb 02
Agboriotejoye:

Well, you just made excuses for politicians. It seems you're saying it's ok to sabotage the country as long as you're politician and you're doing it to gain political power.
That's an absurd thing to say because it is politicians who are supposed to fix the country. At least that's what they campaign for.
The ordinary man you're accusing just wants to make money too. That's their excuse just as you're making excuses for politicians who sabotage the country that they just want to play opposition.
That said, Baraje's claim is something that far worse than what you're accusing ordinary people of. Yet your claim it's ambiguous.
You need to change your mindset.

Baraje’s claim ? So you want me to accept someone’s claim I can’t authenticate ? Can you say this in court ? Press freedom is giving you room to say whatever you like.

Some of these killings have been on before GEJ was president mostly land disputes from bordering communities. Better mind what you say in public if you say something like this on air you might be picked up to explain further then you’ll start crying selective justice continue.
Re: Naira Rebounds As Banks Offload Excess Dollars by DeOTR: 11:34pm On Feb 02
gaby:


When herdsmen with AK47 straddled on their shoulders dey stroll all the way from futa Jallon, Guinea, Mali, and Niger down to your doorstep for Ekiti without NIN, BVN, or voters card?

Even the bandits are mopping up your worthless Naira and converting it to their CFAS as we speak...siddon there.
Dey play, you hear....
Let me know after you succeed spending your CFA in a Nigerian market OK?
Send dollar to Benin and convert it CFA. We are waiting for you to come spend that current in Nigeria. Thanks.
Re: Naira Rebounds As Banks Offload Excess Dollars by Warlord2014(m): 11:38pm On Feb 02
What will they release again when it rises?
Probably their semen.
Jokers
Re: Naira Rebounds As Banks Offload Excess Dollars by Ishilove: 11:52pm On Feb 02
How did we get to this sorry state?
Re: Naira Rebounds As Banks Offload Excess Dollars by adonainana: 11:56pm On Feb 02
RealityGod:


Beautiful proposal.
However,
Sir, the biggest challenge now to rising food cost in Nigeria is not Dollar but security challenges of Fulani herdsmen. If all what you have said is implemented and the security issues are not resolved, this guys will go to the NYSC farms and wipe the people off. The issue with Nigeria is multidimensional. But security is now the most pressing.

There are more Nigerians than Fulani herdsmen and if all NYSC camps are tuned into mega farms and processing units . I doubt Fulani herdsmen can go that far

As dangerous as Niger delta militants was , crude oil was still extracted and refined in the same territory how much a zombie of rag tag people with guns

Besides there are some cities in the southern parts of Nigeria Fulani herdsmen would attack and that would be the end and you would never hear about them again . Places like Benin

The idea is straightforward diversify the economy it’s the only way out of poverty
Re: Naira Rebounds As Banks Offload Excess Dollars by RedAlert08(m): 12:16am On Feb 03
Olachase:
and make ur papa day InCharge abi no be so undecided undecided

At least his papa wouldn't be this incompetent. Nigeria is the only country where failure and mediocrity are celebrated.

Whatever excuse you wanna give for the steady decline of the Naira is basically stories.

Cardi B was appointed to solve problems and not bandy about excuses. You're only defending him because he's from your cursed tribe. And I hope he sells dollars at N50 to you.

Id.iot

1 Like 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by RedAlert08(m): 12:36am On Feb 03
anonymous1759:



I’m not Anti Nigeria I never wished GEJ bad I voted for him 2011. I don’t play bitter politics look for someone to do that with I’m not bitter .

You voted for him in 2011 because that was the directive from your god Bulablu.

Most of you y'bas are just filthy hypocrites

1 Like 1 Share

Re: Naira Rebounds As Banks Offload Excess Dollars by ncoolsome(m): 1:23am On Feb 03
Faiththatworks:
I have been asking this question since last week,and I really need some Intelligent Nigerians to please educate me.
What's causing the downward spiral of the Naira to the Dollar, Can the CBN and the Banks please release the industries where the dollar demand is coming from.
I can say for a fact that NNPCL already told us petrol is no longer subsided,all diesel and Aviation fuel importers have given them selves some sense and have totally reduced their importation because of the Dangote Refinery.
Even Manufactures have reduced importation of essential raw materials,from Drugs to household essentials,everyone is cutting back on importation cos of the high Usd,so what's causing the spike in Demand.
My economic theory is very simple and I hope I get some Intelligent rebuttals,anyone buying Usd this high at 1$ to 1400,will never make a profit on whatever they import.
No right thinking importer will do business at such a ridiculous rate and still expect to make a profit,so who's buying this Usd.
I daresay this spiral is just open ended round tripping,the banks and the bureau are really the ones buying and selling this Usd,they create an artificial supply and demand bogus economy just to milk the Nigerian economy.
EFCC,NSA,ICPC should categorize these people as Economic Terriorist and treat them as such.
God bless Nigeria.


Don't forget dangote isn't producing PMS that's petrol yet,his doing desiel and avaition fuel so petrol is still highly imported..
Re: Naira Rebounds As Banks Offload Excess Dollars by anonymous1759(m): 1:58am On Feb 03
RedAlert08:


You voted for him in 2011 because that was the directive from your god Bulablu.

Most of you y'bas are just filthy hypocrites


Rest not everyone is bitter as you , GEJ , PMB and BAT are all friends you’re here nursing your heart with hate 🤮🤮🤮🤮it’s a pity .

1 Like

Re: Naira Rebounds As Banks Offload Excess Dollars by Agboriotejoye(m): 2:38am On Feb 03
anonymous1759:


Baraje’s claim ? So you want me to accept someone’s claim I can’t authenticate ? Can you say this in court ? Press freedom is giving you room to say whatever you like.

Some of these killings have been on before GEJ was president mostly land disputes from bordering communities. Better mind what you say in public if you say something like this on air you might be picked up to explain further then you’ll start crying selective justice continue.
What exactly are you saying?
What kind of empty threat is this?
Baraje said this in public and it was reported in the papers yet you're threatening me with being picked up for reporting what an insider in APC said.
Oga if you have nothing meaningful to say I suggest you just keep quiet!!

1 Like

Re: Naira Rebounds As Banks Offload Excess Dollars by freemi(m): 3:29am On Feb 03
StarRida:
The only lasting solution is to sack the current CBN governor he gat nothing to offer
he is not the cause of falling naira
Re: Naira Rebounds As Banks Offload Excess Dollars by iLoveYouToo(m): 5:18am On Feb 03
Everybody knows it’s Aboki that’s ruining the Naira, Igbos buy dollars for transactional purposes, Aboki dey stash dollars for speculative purposes.

You see all those senators (serving and past) and big alhajis, it’s dollar business they’re doing.

We need to take our country back asap. Tinubu has a risky job to do, I just hope they don’t kill him

1 Like

Re: Naira Rebounds As Banks Offload Excess Dollars by Olachase(m): 5:46am On Feb 03
RedAlert08:


At least his papa wouldn't be this incompetent. Nigeria is the only country where failure and mediocrity are celebrated.

Whatever excuse you wanna give for the steady decline of the Naira is basically stories.

Cardi B was appointed to solve problems and not bandy about excuses. You're only defending him because he's from your cursed tribe. And I hope he sells dollars at N50 to you.

Id.iot
see someone calling a whole (Tribe) curse well let the conversation end there
Re: Naira Rebounds As Banks Offload Excess Dollars by Kevineleven(m): 6:03am On Feb 03
Removal of fuel subsidy is the reason that the value of naira is crashing, it has affected every business in Nigeria, yet they left the source, and attacked forex, is it that they are confused or they are using a smoke to confuse the masses.

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