emkz:
Let us remember someone insisted the naira would plunge to 2,000 to a dollar.

Some of his disciples here said his cry was the reason the naira did not crash further.

For those naysayers, the naira appreciated because CBN clamped on speculators, enhanced regulation, kicked out unlicensed operators and sold dollars at their own rate and warned those who resold the dollars to do so at a specified margin or face sanctions.

Guess what? Many people like La.nd.ma.nn are unhappy because they probably lost a lot of money betting against the naira.

IMAliyu:


https://nairametrics.com/2024/04/07/nigerias-fx-reserve-dips-by-1-02-billion-in-18-days-on-cbns-naira-defence/

iamtoofan:



What factors bro you don't really understand these things topic,

i agree FG/Nigeria have to do more, esp. as to more local production
However to a great extent Dangote refinery will save Nigeria a great deal of her foreign reserve, $20billion might be chicken change to you but its all to Nigeria

With a private firm like Dangote in the Mix all that corruption you are hinting at, will be sidelined cos there is no course to inflate or lie

Infact with dangote on board, it is now we will know the true consumption of Nigerians per day

MetalJigsaw:
I expected you to answer my question

advanceDNA:


I heard We are not even selling crude oil to the Dangote...the man imports crude oil in dollars from outside

Image123:


Lolz, quick question. How much do you wish a dollar to be to naira? Don't act confused now please.

Goodlady:

I still buy things at costly rates

EnterpriseMan:

I don't really care how much it is. I'm above the level where it changes how I live my life. I might shrug if prices are high but it won't matter to me.
To answer your question I would prefer if it was below N200 per $ like it was before APC came in.
And you don't act confused now. What do you think the implications of borrowing billions and throwing it into the fx to back the Naira would do.
If you're not familiar with Trading, ask someone who is. I trade for a hobby so I know the implications. When you stop supporting it, it will bounce right back to where it was and the money borrowed to support it becomes close to worthless in a lame man's term.
One of the major issues is BDC. They need to be completely removed. Do you know BDC still sells at $1400? I bought dollars today at N1400 and tge so called rate is N1241. If there's dollars to sell to BDC, why not let the banks sell it directly to the consumers

hansomb:
May the stregthning of naira favour me and my family.

emkz:
Let us remember someone insisted the naira would plunge to 2,000 to a dollar.

MetalJigsaw:
You see?

advanceDNA:


I don't understand this topic??
But u agree?? Sigh!!


No



Dangote will not, to a great extent save us because we have other huge imports and corruption everywhere...dangote will only help a bit...


With private firms like Dangote in the mix??

What has Dangote got to do with CBN corruption on FX dealings with importation....crude oil products is not our only imports naaaaa

slimthugchimee2:


Still the same thing that I said, nobody sought to report when it rose by over 1b early last month, but they went to report when it lost 1b

Well you didn't know of this because it didn't suit an agenda

garfield1:


The depreciation was artificially induced too

Basic123:

Just like wishing the country and the government evil will not make your stupid candidate the president

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

IamCookie:



So I heard too. Yesterday's actions often reflect in today's reactions...
Everyone trying to cash out before leaving the stage

charlsecy:
Prediction was based on prevailing circumstances. You can't condemn him after the fact.

karkinase:
#1000 is the last support .. @ this point CBN and speculators will have a huge battle for price next direction.. anyone who wins we will follow

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

Melagros:
COMRADES and the prices of goods and services remain very high and it will remain so till infinity
For the past two weeks the media had been awashed with this news of naira appreciation, but that did not reduce the price of any commodity in Nigeria. What a shameless and incompetent government?

iamtoofan:



So many things you said that are wrong which you will rather not admit but shift the goalpost, no one is against upscaling local production

US has trade deficit, yet china with the highest trade surplus is 2nd to US ...you are entitle to your opinion but where they are talking facts please just watch and learn

blacknp:
Hoard your dollars, make we see if you get dollars pass CBN.

Dey go crash the currency, only you go go sell your weak dollars to them.

JapaPrince:

Been holding dollars as reserve since 2018, best financial decision I ever made. I’m willing to wait even it takes 3 years and I’m buying more. You can sell yours

advanceDNA:


Demand for naira is what largely will boost naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

If care is not taken...the old man can start to demand for dollars from local market because he imports crude oil in dollars to refine...

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

blacknp:
Holding the dollars as a souvenir or what? because in reality, you are not making any sense.

You bought dollars @ 500 last year, it got to 1500 but you didn’t sell, you held it, until it fell back to 1200?

Because if you make your money In dollars, there will be no reason for you to hoard it , since your inflow is regular, weekly or monthly?

Oluwademilade:


Marketers who currently import refined fuel will no longer need to source for $ to import since they can buy from Dangote in naira. If you’re holding $ you better sell now