AngelicBeing:
Hian, you no dey Taya, like seriously 😳

you don tire?

how is the above related to the post you responded to and the post I responded to earlier?

which "god" did you see me refer to?

where did you see any mention about "god' working in CBN or otherwise?

who is my "CBN god"?

where is this "CBN god"?

where did we have a discussion about the existence of a "CBN god"?

can you show me where this "what has God , got to do with all the criminality perpetuated by your Cbn thieves" was mentioned in the "previous post" you are referring to?

matify83:
Excellent move!

However, concerted efforts must be brought to bear on the continuous appreciation of the naira because it is still undervalued at this rate.

Our target is between 700 and 800 to the dollar. That's what Carson has always maintained.

That is not the target of our president.

Tinubu, during his campaign, said he would harmonize the fiscal and monetary policy to achieve immediate stabilisation of the value of the naira against the US dollar.

The President-elect said he would work with the Central Bank of Nigeria (CBN) to bring down the exchange rate to N200 in his first term.

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years,” Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

This is like giving a dying man oxygen. All these moves won't stabilize or make it any better. Read a story where the poster said he has to close shop (agriculture business) because the labourers from neighbouring country won't accept naira, they preferred to be paid with motorcycles. What i see is big boys positioning 'emselves to buy back and drive the naira up. Our leaders know what is wrong and how to fix it but it is not in their nature to do good things.

Sccarrr:
wayre orun is pained...Omo ofo, Omo gutter

omo ale! Aye e ti baje! Omo jati jati!

seguno2:


That is not the target of our president.

Campaign is over dear.

The reality on ground especially after he removed petroleum products subsidy and floated the Naira is at variance with his campaign promises.

Here is a tiny glimse into what his Lagos whizkids are saying.

Sccarrr:
no, E dey decline, ode! We know you're sad about the news..your expectation namake e dey rise daily, it gives u orgasm

Mofo's spotted

You have no business with dollar so no need commenting or attacking anyone. Have you bought dollars all your life
People comments don’t increase or decrease dollar only policies does

Sccarrr:
no, E dey decline, ode! We know you're sad about the news..your expectation namake e dey rise daily, it gives u orgasm

The young man cannot ask simple question again?
Everybody on nairaland is not a bitter soul.

The banks are bidding

Nbote:
The govt thru the CBN is selling below the market value to drive price down. The question is for how long will they continue to sell below the market price?

VULCAN:
He doesn't need your vote.

Mahmoud Yakubu will give him all the votes he needs

Se Mahmoud Yakubu will decide for Nigerians again nii?

This is exactly what is happening as regards the naira gaining.

While they successfully distract everyone with shenanigans like Binance ban, BDC raid and other stunts like a magician waving handkerchief while he pulls off his trick.

They supplied dollars. Simple.

What they are doing is a managed floatation. They dared not fully float the naira. It's just like the partial fuel subsidy.

I've never been around to discourse all those nonsense topics about the gimmicks being employed. The real question is how often do the cbn plan to intercede in the forex market. What is the size of the periodic bailouts. What business sectors would get the funds.

Meanwhile, this managed floatation is a bad strategy.
If you observed it well, it's usually during the 3rd week when it starts getting out of hand that they act. This is creating an avenue for smart people to import goods at a lower rate and then sell at another exchange rate. Some people just mop up and store the dollar outrightly, then ride on the wave of monthly 10 days of scarcity.

Nigerians should be discussing the fact that they are doing the same thing Emefiele did to stop this thing from happening in the Buhari era, but less efficiently.
That cbn always announced a weekly sale of 25 million, and that was how speculators were kept in check.

How will dollar be supplied to genuine demands?
We are a people carried away by theatrics.

But seriously is the dollar ever going to go down to less than a thousand naira?

Kukutenla:

What was the idea behind floating naira

It is called politics

HeroicMeastro:

No be u de shout say e go reach 2k by next month?

E go still reach that 2k. Meanwhile, there is nothing to celebrate @ 1500 to a dollar.

Benwallt:


So, 2000 or 3000 means it's gaining valued? Obidients are the lowest of thinkers

Man you are morbidly senseless. So a dollar is #1500 and you are celebrating such? Bad governance actually messed up your system.

Sccarrr:
no, E dey decline, ode! We know you're sad about the news..your expectation namake e dey rise daily, it gives u orgasm

Mofo's spotted

Who is this animal with an IQ of the lowest order? Are you celebrating one dollar to 1500 Naira or you are a mentally redundant baboon signed from the road side dustbin to praise sing bad governance?

Demented abobaku

CodeTemplar:
The govt is trying to hang it around N1500/$ mark. Selling slightly below and pushing for it to be resold at just above that is their strategy for now.
We need some drastic import substitution and not these cosmetic shenanigans.

Sometimes I wonder how some of us (if given the the chance) will perform the miracle that we expect others to perform. Import substitution? Can you enunciate the policy and achieve the results in even two years?

femicyrus:

It is called politics

They're playing politics with naira?

matify83:

Campaign is over dear.

The reality on ground especially after he removed petroleum products subsidy and floated the Naira is at variance with his campaign promises.

Here is a tiny glimse into what his Lagos whizkids are saying.

Is it by making promises and failing to deliver them that we will have leaders of integrity to develop our country

IamAtikulate:
It's not working.

Dollar is now #1,680+ this morning. Tinubu is destroying this country with incompetence

is 1600 now

Vision101:


Sometimes I wonder how some of us (if given the the chance) will perform the miracle that we expect others to perform. Import substitution? Can you enunciate the policy and achieve the results in even two years?

irrespective of how well the suggesting person can perform, import substitution is the logical way out and never these fire brigade, indices-chasing moves.
Import substitution simply means taking something you would normally import and thus need forex for, and speed up its production locally so you no longer have to import it.
It ensures you employ local hands. Utilize local potentials and materials, then brings about a stronger local currency when you export excess.

For a start, we spend more than 60% of our income on feeding so agriculture is not a brainer.

CodeTemplar:
irrespective of how well the suggesting person can perform, import substitution is the logical way out and never these fire brigade, indices-chasing moves.
Import substitution simply means taking something you would normally import and thus need forex for, and speed up its production locally so you no longer have to import it.
It ensures you employ local hands. Utilize local potentials and materials, then brings about a stronger local currency when you export excess.

For a start, we spend more than 60% of our income on feeding so agriculture is not a brainer.

And this should be the policy pursuit now? A policy that its yield cannot be less than five years. We had it before during the days of oil boom. Where are the results?

Vision101:

And this should be the policy pursuit now? A policy that its yield cannot be less than five years. We had it before during the days of oil boom. Where are the results?

policy implemented with personal gains in view always flop. That's the issue. Corruption.

lexy2014:


you don tire?

how is the above related to the post you responded to and the post I responded to earlier?

which "god" did you see me refer to?

where did you see any mention about "god' working in CBN or otherwise?

who is my "CBN god"?

where is this "CBN god"?

where did we have a discussion about the existence of a "CBN god"?

can you show me where this "what has God , got to do with all the criminality perpetuated by your Cbn thieves" was mentioned in the "previous post" you are referring to?

Iykopee:


Who is this animal with an IQ of the lowest order? Are you celebrating one dollar to 1500 Naira or you are a mentally redundant baboon signed from the road side dustbin to praise sing bad governance?

Demented abobaku

didn't expect anything less frm your shitty brain

Earthquakes:


You have no business with dollar so no need commenting or attacking anyone. Have you bought dollars all your life
People comments don’t increase or decrease dollar only policies does

ode u think everyone com frm the gutter like u..I'm sure u are one of those mumu Yahoo boys collecting 100$ once in a while dey feel u don arrive....spits

Mopolchi:
omo ale! Aye e ti baje! Omo jati jati!

Omo gutter aye awon parents e tibaje fr birthing a useless gutter thing like u

Iykopee:
@ #1500 means naira is gaining value?

Nothing bad in been optimistic in positivity, even if you are Obidi.ents that are ironic don't see anything good about the present government just like their lord and Savior Obi himself,when you see good things that doesn't makes you happy,better keep quiet than showing up your hatred.

1 dollar is almost 2k as at last week ,now it's back to barely 1500 and still going down,yet here you are

IamAtikulate:
It's not working.

Dollar is now #1,680+ this morning. Tinubu is destroying this country with incompetence

Go and check back and stop ranting.

Nigeria will work!

Sccarrr:
Omo gutter aye awon parents e tibaje fr birthing a useless gutter thing like u

e pain am, your mumu neva do? Oponu ni e. Opolo e k'oda. O she protest ni?

77up:
Nothing bad in been optimistic in positivity, even if you are Obidi.ents that are ironic don't see anything good about the present government just like their lord and Savior Obi himself,when you see good things that doesn't makes you happy,better keep quiet than showing up your hatred.

1 dollar is almost 2k as at last week ,now it's back to barely 1500 and still going down,yet here you are

You don't get it. Whoever is celebrating one dollar for a 1500 is a complete idiot. Take a look @ other countries in Africa with the size of the Nigerian economy and compare their currencies with ours and the dollar.


It's embarrassing to say the least.

Sccarrr:
didn't expect anything less frm your shitty brain

Crass idiot from the gutter.

Iykopee:


Man you are morbidly senseless. So a dollar is #1500 and you are celebrating such? Bad governance actually messed up your system.

Something that was almost 2k came down to 1500 and you don't see anything good in that. It will just come to 1 naira to 1 dollar overnight.

You should bury your head in shame. Hunger has removed the little small sense you once had