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Naira Weakens As Banks’ Dollar Sales Plunge By $252m - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Naira Weakens As Banks’ Dollar Sales Plunge By $252m (13965 Views)

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Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by callmevirus(m): 12:44pm On Feb 19
PARADIZEPRIEST:
you don't rebuild an 8year damaged economy in 10months.So, stop being sarcastic and face reality with positivism. Look at the economic matrixes,it will oscillate like tidal waves till things normalize angry


Just listen to yourself
You get sense at all?
Tinubu needs 25 years to transform things to better....Ewu

3 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by clefstone(m): 12:44pm On Feb 19
Incompetent CBN governor

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by emmabest2000(m): 12:44pm On Feb 19

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by RPG2020(m): 12:45pm On Feb 19
BucketMan:
I'm very glad I earn my money In dollars.


Your clients sure for you abeg which format you dey use boom 💥
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Alaigbo(m): 12:45pm On Feb 19
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Houstency(m): 12:45pm On Feb 19
PARADIZEPRIEST:
you don't rebuild an 8year damaged economy in 10months.So, stop being sarcastic and face reality with positivism. Look at the economic matrixes,it will oscillate like tidal waves till things normalize angry

One would think it was another party that was at the helm of affairs, it's same APC Mr for the said 8yrs, which Tinubu supported and rallied around as being superb. Stop creating needless excuses!!!

5 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by DeepSight(m): 12:46pm On Feb 19
PARADIZEPRIEST:
you don't rebuild an 8year damaged economy in 10months.So, stop being sarcastic and face reality with positivism. Look at the economic matrixes,it will oscillate like tidal waves till things normalize angry

They will boil you to death slowly like a frog in hot water. Dey dia.

3 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by DeepSight(m): 12:47pm On Feb 19
PARADIZEPRIEST:
this is what happens when experts are working the ropes to solve an albatross caused by predessesors, half literates and illiterates are busy rantning in a very lowsy manner. Go get financial edu and stop this ... angry

You are beyond daft.

4 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Ogiame: 12:48pm On Feb 19
chieveboy:


I may be wrong in this, but I think it would have been worse under Obi. There is currently no magic anyone can do economically to salvage the Naira while floating it or paying subsidy.

If we remove the 'Economics' side of this consideration hence, we'll be left with that of politics. Politically, Obi would not be able to handle what the good, bad and ugly actors in and out of government would throw at him to frustrate his governance.

There would have been riots by now IMHO.
Your ignorance is powered by the sun.


Always look at the monikers you quote before you drop your comment

4 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Menclothing: 12:49pm On Feb 19
The naira will continue to weak as far no major productions in Nigeria we just importing

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by BondRiv: 12:50pm On Feb 19
Insatiable greed and unpatriotism are fuelling this.
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Jlow2: 12:52pm On Feb 19
Nigeria is suppose to be renamed to endurance
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Larryndelaw: 12:52pm On Feb 19
This Nairaland is only meant to record Bad things about Nigeria..nothing good comes comes out if these forum
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Borrow222: 12:52pm On Feb 19
PARADIZEPRIEST:
you don't rebuild an 8year damaged economy in 10months.So, stop being sarcastic and face reality with positivism. Look at the economic matrixes,it will oscillate like tidal waves till things normalize angry

You can rebuild it without destroying it completely.

You build from what you see on ground not destroying it.

Don't you guys think?

3 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by chieveboy(m): 12:53pm On Feb 19
Ogiame:
Your ignorance is powered by the sun.


Always look at the monikers you quote before you drop your comment

Are you one--"An Obidient"?

While you seem to hint at being an intellectual, your response is rather Obidient I'm sorry.

I am indeed powered by the sun by all standards.
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Solofresh2: 12:53pm On Feb 19
Ogiame:
“We need his BRAIN not his BODY”

“He has been planning for prezidensi since 20 yaaz”

“He built Lagos with half bag of cement and Tamed the pacific Ocean”

“He has First Class degree in Akantin”


“Jagaban is a Master strategist, Obi is a mere trader”




All these and many more were said by his clownish supporters.

See how our Naira and Economy is nose diving... It is safe to call Tinubu an Ineffectual incompetent buffoon.
grin
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by sulaak(m): 12:53pm On Feb 19
ifytrik:
The problem with Nigeria is our president, I could remember during the regime of jonathan 1.5 million naira was almost all it takes to clear a 16 ft container, buhari came in and it was increased to 6 million naira, today it will cost you between 17 to 18 million naira to clear same size of container if they don't seize it. Now you know why the prices of imported goods are skyrocketing, tasking an importer a whopping 18 million naira to clear his container is like killing Nigerians because the importer will add it to the price of the goods he imported and at the end the consumers are the one paying the 18 million naira you collected from the importer, it's not just the dollar issue that is skyrocketing the prices of imported goods, it's the president alongside the Nigeria custom service who doesn't care if Nigerians are surviving or dieing, I don't have anything against Tinubu but I think his policies shows he doesn't mean well for Nigerians, first he removed the fuel subsidy which was the only benefit common man like me was getting from the government, secondly he floated the naira which is the reason naira is loosing value every second.

I agree that Tinubu is a failure. But why have Nigerians failed to develop a culture of productivity? Nigeria imports everything, including food; we can't just blame the bad government. They are responsible for most of the problem, but the people are equally to blame.

It was Nigerians who trooped out and protested against a weak GEJ attempt to remove oil subsidies that would have allocated funds from the composition of imported. goods into infrastruture.

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by yewit37486: 12:53pm On Feb 19
BucketMan:
I'm very glad I earn my money In dollars. Best thing about earning in dollars is that the foreigners paying you don't realize the high value of the dollar in your country, to them it's chump change, lol. I'm thankful 🙏

Make sure you don't undervalue or underprice yourself though, always benchmark your skills and demand for the corresponding pay levels regardless.

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Ogiame: 12:54pm On Feb 19
chieveboy:


Are you one--"An Obidient"?

While you seem to hint at being an intellectual, your response is rather Obidient I'm sorry.

I am indeed powered by the sun by all standards.
That's the reason I gave you the warning.... Look next time.

I don't welcome silly comments in my mention.

Oh, I am a very rugged Obidient.


Au revoir CLOWN 🤡

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Geopex(m): 12:54pm On Feb 19
With the free information all can find online, so disturb with most comments I read here. naira will never appreciate in for now. stop blaming the president especially the CBN gov. He is trying his best, he was not the one responsible for insecurity issue, low crude oil sales and oil theft, he was not the thatn changed your taste from local products to foreign products. let us face the reality. after 1 yr or 2 and the president fail to address issue of energy, security, local production of materials and food, with building of refineries. then we can start blaming him
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by ustorp(m): 12:54pm On Feb 19
Naira will continue to weaken as long as we have a drug baron from Chicago, that has no family records, primary school record or secondary school record as our president.

Ebi pawa go continue non stop
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Atk1nson(m): 12:56pm On Feb 19
PARADIZEPRIEST:
You ppl are not exporting oil as before to earn more dollars as most of naija crude oil money sadly had been stolen in last 8years waste of govt,with intense buha govtcomplicite oil theft,so stop importing nonsense into Nigeria and naira will be OK.
Stop importing nonsense e.g
STOP IMPORTING SHOE POLISH, NAIL POLISH, KITCHEN UTENCILS

STOP IMPORTING LUXURY CARS FOR GOVT PUBLIC SERVANTS,GO TO INNOSON LEASE BULLETPROOF SUVS ,

STOP BUYING STUPID FOREIGN BUILDING MATERIALS LIKE FOREIGN PAINTS AND POP

STOP IMPORTING USELESS FOREIGN FURNITURES

STOP IMPORTING NONSENSE ASHOEBE MATERIALS FROM DUBAI

STOP IMPORTING CRAZY THINGS LIKE HUMAN HAIR AND ASETHETICS
ETC
YOUR LONG THROAT FOR ALL THESE NONSENSE SHOULD STOP IMMEDIATELY TO STRENGTHEN THE NAIRA angry

CBN SHOULD CONTROL ALL FORM M FORTHWITH ,DONT TRUST ANY BANK WITJDOLLARS EVER AGAIN.
AND GIVE FOREX ONLY FOR NECESSITIES TO IMPORT MATERIALS AND MACHINERIES TO BOOST AGRIC FOOD PRODUCTION,FOOD STORAGE REFRIDGERATED TRUCKS,ESSENTIAL VEHICLES FOR HEALTH,LOGISTICS ,AND SECURITY VEHICLES ETC.ANY THING OUTSIDE THIS LIST IS ANTI PEOPLE WELLBEING AND ANTINAIRA.QED.

Dont forget to tell your master, Tinubu to stop changing engine oil in fance. After building lagos, definitely he must have built one fitting hospital where he can get serviced? Or did he become a chief builder without a functional hospital?

4 Likes

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Larryndelaw: 12:57pm On Feb 19
Menclothing:
The naira will continue to weak as far no major productions in Nigeria we just importing
When Emefiele was giving billions of dollars to individuals and they will inturn sell it to Black market. The money that supposed to go to commercial banks. That's the ripple effects you are seeing now
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Jaii(m): 12:58pm On Feb 19
chieveboy:


I may be wrong on this, but I think it would have been worse under Obi. There is currently no magic anyone can do economically to salvage the Naira while floating it or paying subsidy given our balance of trade and other economic factors.

If we remove the 'Economics' side of this consideration hence, we'll be left with that of politics. Politically, Obi would not be able to handle what the good, bad and ugly actors in and out of government would throw at him to frustrate his governance.

There would have been riots by now IMHO.

i support OBI and yet i cannot bring myself to disagree with you on this. Obi is surely better than Tinubu but in these circumstances, he would have too many people seeking to make his government ungovernable like they did GEJ, it would even be worst.

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by ajimo54(m): 12:59pm On Feb 19
Ogiame:
“We need his BRAIN not his BODY”

“He has been planning for prezidensi since 20 yaaz”

“He built Lagos with half bag of cement and Tamed the pacific Ocean”

“He has First Class degree in Akantin”


“Jagaban is a Master strategist, Obi is a mere trader”




All these and many more were said by his clownish supporters.

See how our Naira and Economy is nose diving... It is safe to call Tinubu an Ineffectual incompetent buffoon.

He is NOT! You are disappointed because u thought he was a miracle worker! So far, so good, he will stabilize this economy! You cannot eat your cake and have it! Nigerians are always looking for who to blame for their unproductivity!
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by bjdon: 12:59pm On Feb 19
PARADIZEPRIEST:
You ppl are not exporting oil as before to earn more dollars as most of naija crude oil money sadly had been stolen in last 8years waste of govt,with intense buha govtcomplicite oil theft,so stop importing nonsense into Nigeria and naira will be OK.
Stop importing nonsense e.g
STOP IMPORTING SHOE POLISH, NAIL POLISH, KITCHEN UTENCILS

STOP IMPORTING LUXURY CARS FOR GOVT PUBLIC SERVANTS,GO TO INNOSON LEASE BULLETPROOF SUVS ,

STOP BUYING STUPID FOREIGN BUILDING MATERIALS LIKE FOREIGN PAINTS AND POP

STOP IMPORTING USELESS FOREIGN FURNITURES

STOP IMPORTING NONSENSE ASHOEBE MATERIALS FROM DUBAI

STOP IMPORTING CRAZY THINGS LIKE HUMAN HAIR AND ASETHETICS
ETC
YOUR LONG THROAT FOR ALL THESE NONSENSE SHOULD STOP IMMEDIATELY TO STRENGTHEN THE NAIRA angry

CBN SHOULD CONTROL ALL FORM M FORTHWITH ,DONT TRUST ANY BANK WITJDOLLARS EVER AGAIN.
AND GIVE FOREX ONLY FOR NECESSITIES TO IMPORT MATERIALS AND MACHINERIES TO BOOST AGRIC FOOD PRODUCTION,FOOD STORAGE REFRIDGERATED TRUCKS,ESSENTIAL VEHICLES FOR HEALTH,LOGISTICS ,AND SECURITY VEHICLES ETC.ANY THING OUTSIDE THIS LIST IS ANTI PEOPLE WELLBEING AND ANTINAIRA.QED.
Buhari's govt had banned the importation of a lot of products to encourage local production. This govt removed the ban, which will lead to an increase in demand for FX.
The FG needs to place a very high import duty on items like artificial hair and many other non essential things that eat up FX

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by chieveboy(m): 1:01pm On Feb 19
Ogiame:
That's the reason I gave you the warning.... Look next time.

I don't welcome silly comments in my mention.

Oh, I am a very rugged Obidient.


Au revoir CLOWN 🤡

Oh I see.

I agree it's silly...
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Geopex(m): 1:02pm On Feb 19
We never witness all the bad effects of those bad leaders we had in the past. This is just the beginning. once it fully blown out, there will be revolution, unless the president address some key fundamental issue to this fx issue. Security, power, agriculture, building of refineries, production of raw materials locally and more.
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Seunpapa65: 1:03pm On Feb 19
BucketMan:
I'm very glad I earn my money In dollars. Best thing about earning in dollars is that the foreigners paying you don't realize the high value of the dollar in your country, to them it's chump change, lol. I'm thankful 🙏
You mind teaching me bro 🙏🙏
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Chummynoni(m): 1:06pm On Feb 19
BucketMan:
I'm very glad I earn my money In dollars. Best thing about earning in dollars is that the foreigners paying you don't realize the high value of the dollar in your country, to them it's chump change, lol. I'm thankful 🙏
does it change anything? This is simple economics bro'v. Assuming you earn $100 when a $ was #500, that was 50000 and things were relatively cheap so the 50k would get you enough things to sustain, now a $ is 1500 which means you earn 150k with skyrocketed prices of goods and services, then you will realize the inflation doesnt favor you the way you think.
Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by johnog4sure: 1:09pm On Feb 19
PARADIZEPRIEST:
you don't rebuild an 8year damaged economy in 10months.So, stop being sarcastic and face reality with positivism. Look at the economic matrixes,it will oscillate like tidal waves till things normalize angry
But its ok to make it worse, worse than the last dullard could do

1 Like

Re: Naira Weakens As Banks’ Dollar Sales Plunge By $252m by Ray369: 1:09pm On Feb 19
What are you defending? Pstchew
saasala:
As usual, the lot of you who don't know anything about economics and the reason why the Naira is falling will always blame Tinubu. I don't give a hoot about the Emilokan crooner. But y'all need to think well before shifting blames.

When Emefiele was printing the new notes, you people including Obi and Atiku were praising him abi. Shebi they thought you basic economics in secondary school about printing more money. Abi your economics teacher didn't tell you that any country that prints too much money will end up like Zimbabwe. That mofo printed new notes, said he will take back the old ones. He later released everything into circulation. Himself and some of his thieving cronies even piled loads of cash and kept them under their bed.

The weyrey was selling dollar to his goons at a subsidized rate against the real exchanged rate. Who do you think was paying for the difference in prices?

Everything is Tinubu. Una no won get sense.

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