AqualinaXYZ:
Carpenter wey no know wetin to work go dey blame nail say e dey eye am





Tinubu wey no know how to stabilize economy is busy chasing wind




From Dom account ban to crypto regulations to binance to Aboki wey dey exchange dollar etc




All these things were in existence when Jonathan stabilize dollar to N216




Make Tinubu dey Mumu himself

Ebukamatth:
Today looks familiar

Is like I don see Today before

Domaining101:
Heaven knows that even if they somehow managed to turn every BDC in Naija to endangered species, Naira will still not recover because those guys are not the problem of the naira. Tinubu came with Zero vision about how to fix this country, he just wanted to be President for President sake. Peter Obi was the only man that had a plan, the man said he will transform Nigeria from a consuming to a producing and exporting nation and funny enough, that bolded statement is the only thing that can rescue the naira. Every other thing na just sakamaje.

Domaining101:
Heaven knows that even if they somehow managed to turn every BDC in Naija to endangered species, Naira will still not recover because those guys are not the problem of the naira. Tinubu came with Zero vision about how to fix this country, he just wanted to be President for President sake. Peter Obi was the only man that had a plan, the man said he will transform Nigeria from a consuming to a producing and exporting nation and funny enough, that bolded statement is the only thing that can rescue the naira. Every other thing na just sakamaje.

nlfpmod:

https://www.youtube.com/watch?v=OyORn4aBhPQ

EFCC goes after Bureau De Change operators in Sabo Ibadan

Domaining101:
Heaven knows that even if they somehow managed to turn every BDC in Naija to endangered species, Naira will still not recover because those guys are not the problem of the naira. Tinubu came with Zero vision about how to fix this country, he just wanted to be President for President sake. Peter Obi was the only man that had a plan, the man said he will transform Nigerian from a consuming to a producing nation and funny enough, that bolded statement is the only thing that can rescue the naira. Every other thing na just sakamaje.

Domaining101:
Heaven knows that even if they somehow managed to turn every BDC in Naija to endangered species, Naira will still not recover because those guys are not the problem of the naira. Tinubu came with Zero vision about how to fix this country, he just wanted to be President for President sake. Peter Obi was the only man that had a plan, the man said he will transform Nigeria from a consuming to a producing and exporting nation and funny enough, that bolded statement is the only thing that can rescue the naira. Every other thing na just sakamaje.

emkz:
These are just temporary measures and were bound to fail. The forex market in Nigeria is like a hydra-headed snake. Cut one head; as you face another head, the first head will grow back. Cut the damn neck! In other words, let the CBN address the root of the problem instead of pretending they don't know.

Since last week, dollars injected into the forex market are mopped up.

Who exactly are those mopping up the forex?

What economic activity is tied to the raid of the forex?

Ribadu claims the activities of speculators are responsible for the hike in dollar rates.

My question to Ribadu is: why are the speculators not afraid of the government?

For many years, bank MDs have been accused of buying forex from CBN and the forex goes into the black market through back channels, for example, there are vulturistic abokis sitting in banking halls trying to buy off dollars from customers.

Who regulates those abokis?

If the $10billion the vice president said would come into the system enters, it would be evacuated by the same speculators which would not solve the problem.

My observation is that CBN has lost complete control of the forex market and are being regulated by the BDCs and population instead of CBN being in control. All over the world, forex trading is heavily regulated by governments through central banks.

What I also observed is that the dollars are mopped up by those who don't need them but are keeping them for a profit. Therefore, let CBN take complete control of the forex market through the following measures:

(1) Deregister all unlicensed BDCs. That market is heavily unregulated and until they are faced squarely by the authorities, the practice of the naira dying will not stop.

(2) Stop selling dollars to commercial banks as it is clear that they have failed in meeting their obligations to customers with the dollars. People who approach the banks for PTA/BTA and school fees are directed to the BDCs. Why do BDCs have dollars and banks don't? Even with banks, some people still approach the CBN to transfer their school fees. Infact, it was found that the banks had $5billion in their vaults. How come no one has been punished when these same banks created artificial scarcity to push people to BDCs?

(3) All banks should be compelled to show a statement of how they used the dollars they received from the CBN from the last two years. At least it would give us some ideas of what disappeared through the black market.

(4) CBN needs to carry out a tsunami on the banking industry. Use some bank MDs known for the forex fraud as examples by dismissing them for breaking the law.

(5) Once all these measures are taken, the CBN must protect all forex coming into the country to ensure the problems we currently have are not iterated.

In summary, CBN needs to take drastic measures to regulate the market.

There are other measures that can be taken to get the dollars from those who have stored them. Whether the CBN would have the will is something else. The Nigerian forex market is like those who pirate music.

Kill the black market for forex.

PJ123:


As much as I do not support Tinubu, Peter Obi is not a solution to Nigeria.
Why didn't he transform Anambra? It's unfortunate that out of over 200 millions Nigerians, only Tinubu, Obi and Atiku were contending candidates.
None of them in my own assessments was a good candidate for Nigeria. Osibanjo was fair and better than any of these three contending candidate.

AqualinaXYZ:
Carpenter wey no know wetin to work go dey blame nail say e dey eye am





Tinubu wey no know how to stabilize economy is busy chasing wind




From Dom account ban to crypto regulations to binance to Aboki wey dey exchange dollar etc




All these things were in existence when Jonathan stabilize dollar to N216




Make Tinubu dey Mumu himself

samwash:
Tinubu government is confused.

Seunpapa65:
Yet dollar still dey fall yakata

matify83:
This is totally a wrong move.

Usage of Brute force will not force the arbitrageurs to renounce the only business line they have ever known.
Let the CBN sell FX through DMBs to all at competitive rates and the BDCs would crumble naturally. All these dramas will create unnecessary heating up of the FX market with the attendant scarcity of FX and continued naira devaluation.

I'm not a prophet of gloom and doom but I can deduce from the actions of the government that they may soon criminalize the possession of the dollar.

If all interventions fails to halt the slide of the naira, they may confiscate the dollars in dorm. Accounts.

There is no low to which this government can not sink.


Watching!