I still don't understand why as an independent sovereign Nation, the strength and value of our currency is determined by a foreign currency.






...
It's a rhetorical question.
I actually know the answer

Paraman:
If you like, don't listen to professionals, keep on believing what losers, hate filled and bitter people are saying on nairaland and twitter.

And what are the experts saying??
That we should only hold on to Naira that is constantly getting devalued?
Do you even know that the Naira has lost about 300% of it's value within 8 months compared to the dollars?
You're a joker. 🙄

What's the different between dollars and naira

1)stability
2)value
3)dignity
4)reliability
5)accessibly.

Does naira and kobo. had any of this

Hopium:


Lol. You will learn.

In trading, there's a time you take profit and move on. That's similar to what the bank is saying.

Naira has crashed enough. With the new policies in place, the rebound is near our door step.

Like they said, don't buy the dollar to speculate - only dumb money will buy the dollar now; the meat of the move is done. Don't play!

. You will learn soon, dey play. 😂😂

Hopium:


Lol. You will learn.

In trading, there's a time you take profit and move on. That's similar to what the bank is saying.

Naira has crashed enough. With the new policies in place, the rebound is near our door step.

Like they said, don't buy the dollar to speculate - only dumb money will buy the dollar now; the meat of the move is done. Don't play!

lol no mind them, they will lurn very soon.

udemzyudex:


Trash,let them do it first then others will follow.

FG should liquidate their foreign reserves, turn it to naira then we'll take them serious.

Why should the FG do what you're suggesting?

crossfm:
Hehehe.

Warning ko, warning ni .

This baba is looking for who to deceive.I trust Nigerians,they will do the needful .

see them.... And dem dey people are suffering

Dybala11:

And what are the experts saying??

right now, don't buy the dollar and keep at home.

TheBillyonaire:
We should simply replace the naira with dollars since oil and gas is sold in dollars and we are an importing country. Why use naira when we can use dollars

Been asking this

Celebrities don't spend naira
Politicians don't spend naira
Everything about the rich has no naira


The govt itself is run with dollars
Every rich person calculates and spend money in dollars

Only the poor spend naira

So therefore 30yrs to this time the naira will continue falling

Eriokanmi:
After announcing last week that they'd use over 30bn dollars stashed in various banks to safe the free fall of naira, the money which the CBN later debunked,, a lot of people, including politicians have besieged banks and withdrawn all their dollars.

From time immemorial, any news from the federal government coffers which were carried by major newspapers were later debunked later became real. I can't be mentioning scenarios. The most recent one was the electricity tariff which they first debunked. Now, its become a reality. Maybe the cbn had envisaged that people would react swiftly and pack all their dollars before they implement the policy, they now debunked it. Nigerians are wiser than they think. How can you convert usd to naira at a rate you would now dictate to the owners of those dollars?

The politicians aren't left out today among those who thronged banks and took their dollars away. That's the reason dollar rate fell since last Saturday. I bought dollar at 1407 today, imagine. Early last week it was sold above 1,500. Dollar don yapa now and its estimated to fall further.

All these international banks will be hardest hit and that's why the standard chartered man was shouting 😃. A lot of people must have emptied their dollar vaults today.

If people decide to start hiding dollars away from the banking system, it will further worsen the situation.

Meanwhile, what happens to those that saved dollars and intend to travel abroad with it as POF, are they still going to force them to take naira?

Nigeria’s economy is finally on the brink of total collapse.

Ade1177:


Been asking this

Celebrities don't spend naira
Politicians don't spend naira
Everything about the rich has no naira


The govt itself is run with dollars
Every rich person calculates and spend money in dollars

Only the poor spend naira

So therefore 30yrs to this time the naira will continue falling

We are obviously more American than Nigerian. It either we decouple our economy from dollars or we agree that we are a colony and continue to use dollars until the system collapses and we go into civil war again and split into 3 countries.

writeprof:


Is Binance that discreet and secured?

It's safe die and very very secure that is where all this our politicians store their money either in naira or dollars EFCC can never trace your money or anyone.moreso you can also use BINANCE account to buy Dollar keep the more dollar appreciate the more your money would also appreciate at every interval.

He is saying Nigerians should not to hoard dollars but they are the greatest hoarders of foreign currency. Do what I say but don’t do what I do.

Gucciblog:


Sharrap.

People have been saving in Dollar before your papa was born.

Even your country saves in Dollar. Stop saying things like an illiterate.

He is actually an illiterate.

The best way to save your money is to invest it in assets like gold, stock, and real estate. Because I no trust Naira any day, but Naira fit suprise us.

The people who do it won't listen. 97% of Nigerians have never handled foreign currency. The ones who do are too powerful to care.

Paraman:


https://punchng.com/standard-chartered-bank-warns-against-hoarding-of-dollars/?amp

Speaking at the event, the Head of Financial Markets & Rates & Credit Trading, West Africa, Ayodeji Adelagun, said that given the unstable naira, that was the time to buy only as many dollars as required for use per time.

Adelagun said, “This is not the time to speculate, it’s not time to stockpile. It’s time to get only what you need. If you need to pay for something, buy what you need and move on.”

He pointed out that the volatility seen with the naira was as a result of attempts of the Central Bank of Nigeria to mop up excess liquidity.

Kudos to everyone out here trying to make something good happen for themselves.

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proeast:
Look at the foolish ones talking rubbish. So, Nigerians should keep their money in naira and watch their hard earned money become worthless? This man here probably has vast stash saved in dollars just like corrupt politicians but they want Nigerians to suffer alone.

You dey mind am? Let him be there talking rubbish

crossfm:
Hehehe.

Warning ko, warning ni .

This baba is looking for who to deceive.I trust Nigerians,they will do the needful .

All these book economics nor dey work in 9ja because nobody follows the rules.

The dude sef dey stockpile FX seriously.

When has Naira ever regained value it has lost? It might regain a little temporarily but medium term is more devaluation.

If you have dollars/Euro, keep your money jeje. Even if Naira becomes 900 to a dollar, still keep it and wait for just 6 months.

Even dom accounts worth about 30 abi 50 billion dollars in total already dey govt eye to raid sef.

It is politicians and their fronts that hoard dollars. In fact, they are majorly responsible for the wholesale buying of FX.

TheBillyonaire:


We are obviously more American than Nigerian. It either we decouple our economy from dollars or we agree that we are a colony and continue to use dollars until the system collapses and we go into civil war again and split into 3 countries.

Nigeria will split into like 10 or more countries if we choose to go our different ways. there's nothing like splitting into 3.

merits:




It's safe die and very very secure that is where all this our politicians store their money either in naira or dollars EFCC can never trace your money or anyone.moreso you can also use BINANCE account to buy Dollar keep the more dollar appreciate the more your money would also appreciate at every interval.

you don't know anything bro

Paraman:
you don't know anything bro

Pls tell me more about binance, I want to start trading there. I have like 500k to start with

This is now clear