Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt - Business (9)

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Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt - Business (9) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt (26902 Views)

Naira Hits ₦1,000/$ Ahead Of CBN Sale To BDCs / Naira Hits ₦2,000/1£ At Parallel Market (From ₦1930/£) / Naira Falls To All-Time Low On I&E Window, Hits N1,099/$ (2) (3) (4)

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Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by khattab02: 11:40pm On Feb 20

Hmmm...

Have I ever seen a nation where it currency is hell bent at the dollar?? undecided

I don't think so!

Let those that can do something or voice out ( the likes of Reps, senators, activitist, Wole soyinka, and Labour) continue to fold their hands and watch things go worse and out of hand.

Nemesis is coming!

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by BigManny: 12:23am On Feb 21

AqualinaXYZ:
As long as I’m receiving dollar every three days

Let it hit to 100k per $ before September

We warned you people to vote wisely una no gree

Let’s make gains out of y’all foolishness

How u take dey run am bro? Show me the way.. pls

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by femi4: 12:53am On Feb 21

Zxcvbnmghtr:

I have always respected your I/Q but this comment of your's doesn't add up in the realities around the world. I was in Canada a few weeks ago, the same Canada of a few years ago has really changed so much that, I had to make my purchases in non branding stores where things are cheaper. Funny how I started meeting people I use to meet in the super markets, I don't mean Nigerians but Canadians. The exchange rate of Canadian Dollar to American Dollar has shut up. Interest rate has shut up. Things are not easy. It's even much more difficult in the U.K, very difficult. My point is, why is it so? Is it bad leadership?

Nigeria will stabilize. It's a phase. If GEJ had removed the subsidy then, of course this is what we will go through or even worse but it would have been in the past.

hypocrite
Are people on UK n Canada Street protesting.

Is it only food that's expensive and unaffordable in Nigeria? Shoe us light, good roads n drinkable water from the tap. Even pure water is a no go area

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Kingdavid579(m): 12:54am On Feb 21

CaptainJune:

There was a prophecy given by one I consider a true man of God. In 2023, he said what God showed him would happen under Tinubu administration. I don't need to say everything (it is a nightmare for those who don't know God) but one thing he said that is clearly coming to pass is that the naira will fall to ₦2000/$. The hardship will be unbearably grievous under Tinubu. He said there would be serious hunger in the land that people would resort to cannibalism to survive. Hmm. He said that this would not affect God's children but, my brother, when he gave this prophecy, the naira to the dollar rate was about ₦900/$. Today, there is serious hunger in the land as he said and naira to the dollar rate has hit ₦1,825 to a dollar only ₦175 shy of ₦2000.

Selman, I was in Utako then

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by autodoctor: 2:35am On Feb 21

Very soon it will be N5000 to 1 dollar.

1 Like 1 Share

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Johnn87: 3:39am On Feb 21

ironheart:
Government need to scrap those BDC guys. They are a bunch of cabals, everyone should go to the bank to get there Money changed. Official Naira price will continue to chase the BDC price

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Johnn87: 3:45am On Feb 21

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by AmuDimpka: 4:34am On Feb 21

Zxcvbnmghtr:

See reasoning.

that's the truth

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by marlow1962(m): 5:14am On Feb 21

Ashawoman82:
u are not OK, what do we produce... $ will continue to determine our economy provided we remain import dependent... What do we export in this country?... Useless policy from BAT brought us to this situation to us, how can u float the naira knowing fully well we rely on importation for even little things like tooth pick and tissue paper..

Nigeria don not want to produce and export, stop hiding behind the phrase of "what do we produce", that's a very dumb statement. The westerners wants to purchase from you, they purchase in their currency (not ur own national currency), when you want to purchase from them, you purchase with their own currency, what a shame, making your own currency dead and out of transaction.

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Newton1045: 6:47am On Feb 21

Irupetepete:
and your brain didn't tell you the prices of everything will shoot up?

It didn't.
I live in pluto

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Newton1045: 6:49am On Feb 21

aimmoney9:

Yoruba economics........

It is like it has been long you went to the market........

Is 2500 naira to 1$ okay ??........

No. I don't buy food.
I feed on oxygen.
With all Ur knowledge,u can't help de dollar from going up.
Congrats

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Newton1045: 6:52am On Feb 21

lendahand:
I don't think you fully understand the import of the chase

I can't pay for my foreign exam BC of rising dollar. So I understand about it abit.
Let's manage our Naira and leave dollar madness

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by taiwog700: 7:15am On Feb 21

The labour of our forecast fathers is already in vain so it is hogh time we change our national antem ,Our fore father tried their best and hand over to our grand father the likes of Awolowo ,tafawa balewa,nnandi azikiwe Akintola etc .This are true patriotic Nigeria that actually mean well for the country but those enemies of the state did allow them to actualize their dream on Nigeria by cutting their life shot their by paving the power of leadership to our fathers the like of irosi obasanjo, danjuma gowon,maritala and these are the people that bastardize our economy turn the country upside down

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by cmikel: 8:27am On Feb 21

ANY NATION THAT GETISONS RULE OF LAW AND FOLLOWS THE PART OF FRAUD, MANIPULATION, TRIBALISM, NEPOTISM AND FUALSEFULL COVER UPS

THIS IS WHAT HAPPENS TO SUCH A NATION

INTERNAL INSTITUTIONS CAN NOT RESPECT ANY GOVERNMENT THAT OBTAINS THINGS WITH DECEIT

MY PRAYER IS GOD FORGIVE THE CURRENT GOVERNMENT AND HELP THEM TO SUCCEED

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by lendahand(m): 12:10pm On Feb 21

Newton1045:

I can't pay for my foreign exam BC of rising dollar. So I understand about it abit.
Let's manage our Naira and leave dollar madness

we are an import economy that will continually suffer when the dollar keeps rising against our currency. We are fully influenced by hard currencies unlike Russia who can wax strong in the face of sanctions by the world powers because they create and manage their economy tightly.

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Konquest: 8:35pm On Feb 22

t2luv1:

Let you in on a secret it is not a Demand and Supply thing. Annual inflow remittance by the Nigerian in Diaspora is about $21B, and Annual outflow specifically dedicated to importation is about $25B. This is without even taking into account Nigeria's excess reserve account. There is plenty of money to defend the Naira. The previous CBN chief did it without any fanfare. Partner, a lot of the big boys in financial institutions are all betting against the Naira.

Just to let you know, only less than 10 percent of the $20-$21 billion annual Diaspora remittances actually get to Nigeria. In major surveys that have been done in the U.S., UK, etc, among the Nigerian Diaspora, most of them don't send hard currencies via Western Union or Money Gram again but through money transfer apps. The money agent simply collects the hard currencies and credits the Nigerian bank accounts of the beneficiaries using black market rates!

So, a whopping $18 billion of Diaspora remittances doesn't get to Nigeria in hard currencies. The less than $2 billion (out of the $20 billion) that gets to Nigeria finds it's way into the illegal black market than the regular channel bacause of the greed to earn more profits by the end users. So, their is self-inflicted damage to the Nigerian by Nigerian citizens here, though mostly unintended by the Diaspora. The CBN has to find a way of making sure nearly all the $20 billion annual Diaspora remittances get to Nigeria since Diaspora remittances are a major key for economic growth and development in many countries of the world including India, China, Malaysia, and more.

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by lifeandjoy: 12:48pm On Mar 01

Typing:

Before he finish, no child will remain in one Region. As them go don sell all the Children for that Side. To enable them buy food

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by lifeandjoy: 12:49pm On Mar 01

Typing:

Before he finish, no child will remain in one Region. As them go don sell all the Children for that Side. To enable them buy food

https://www.nairaland.com/8016936/ekiti-woman-nabbed-selling-baby

Boy, here's your reply grin

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by Typing: 2:17pm On Mar 01

lifeandjoy:

https://www.nairaland.com/8016936/ekiti-woman-nabbed-selling-baby

Boy, here's your reply

Make I help you with better reports cheesy

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Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by NLPoliceWoman: 3:54pm On Mar 08

RTR

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by lajid: 6:46pm On Apr 13

t2luv1:
How is that free-floating on the Naira going with yaa? Insane for the country to be doing something proposed by McKinsey and Company, a global consulting company. This is the same company that advised AT&T in 1991 to sell their mobile phone division because wait for this people, they envisioned the total number of subscribers within the continental USA not to be more than 100,000 by 2011. They were way off by over 200m subscribers. That alone should have disqualified that company from ever being hired by any reasonable company as a consultant. That is the same company that advised the Nigerian government to free-float its Currency. Nigeria has so many distinguished economists with her border that advised the country not to free-float the currency. Typical of African Countries they worshiped at the altar of Ivy League College diplomas instead of believing their homegrown diplomas. Now they are in this position. All major countries support their currency, either directly or indirectly. China, Japan, and Germany directly The mighty USA does this indirectly through the Treasury notes interest manipulations. Only Nigeria is stupid enough to think she knows better. Well, i think it's time for me to take a short position when it comes to Nigeria currency I am thinking of buying a short position of $1/2200,

Chief who says McKinsey advised the Nigerian govt to free float?

1 Like 1 Share

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by blacknp(m): 12:40am On Apr 14

t2luv1:
How is that free-floating on the Naira going with yaa? Insane for the country to be doing something proposed by McKinsey and Company, a global consulting company. This is the same company that advised AT&T in 1991 to sell their mobile phone division because wait for this people, they envisioned the total number of subscribers within the continental USA not to be more than 100,000 by 2011. They were way off by over 200m subscribers. That alone should have disqualified that company from ever being hired by any reasonable company as a consultant. That is the same company that advised the Nigerian government to free-float its Currency. Nigeria has so many distinguished economists with her border that advised the country not to free-float the currency. Typical of African Countries they worshiped at the altar of Ivy League College diplomas instead of believing their homegrown diplomas. Now they are in this position. All major countries support their currency, either directly or indirectly. China, Japan, and Germany directly The mighty USA does this indirectly through the Treasury notes interest manipulations. Only Nigeria is stupid enough to think she knows better. Well, i think it's time for me to take a short position when it comes to Nigeria currency I am thinking of buying a short position of $1/2200,

How far, we never hear anything from you since?

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by t2luv1: 4:06am On Apr 14

blacknp:
How far, we never hear anything from you since?

I am going to explain what is going on to you. Hopefully, you will understand. When a country increases benchmark interest rate to 27% guess what happens mad rush money flows into that country. That is why money is flowing into the CBN account. Short term your Naira to Dollar rate will improve, but one year from now when it comes time to pay the yield on the deposited money watch out. Outlook is still $1/2220, I am still shortening the naira but laying off my position to 16 months

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by t2luv1: 4:06am On Apr 14

lajid:

Chief who says McKinsey advised the Nigerian govt to free float?

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by blacknp(m): 11:22am On Apr 14

t2luv1:

I am going to explain what is going on to you. Hopefully, you will understand. When a country increases benchmark interest rate to 27% guess what happens mad rush money flows into that country. That is why money is flowing into the CBN account. Short term your Naira to Dollar rate will improve, but one year from now when it comes time to pay the yield on the deposited money watch out. Outlook is still $1/2220, I am still shortening the naira but laying off my position to 16 months

Please Shut up, Nonsensical enemy of The Federal Republic of Nigeria wey no get joy for em life.

1 Like

Re: Naira Hits N1,825 To Dollar Despite EFCC Gun Rescue Attempt by t2luv1: 11:15pm On Apr 14

blacknp:
Please Shut up, Nonsensical enemy of The Federal Republic of Nigeria wey no get joy for em life.

Partner facts are stubborn things. To be honest with you I don't give a rat ass regarding whatever happened to Nigeria. My main object as a trader is to make money. I can't afford to be too sentimental.

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