You were able to catch the guy in the very act. They want to reenforce their lie that the naira is being defended from the reserve, since a diret attack has been foiled they are trying to use this reverse psychology of forming support but...
There is a thread that is backed up with facts and figures that shows that CBN is not defending the naira from the reserve, but these hoebidient people want to believe what they like. Now this one wants to follow the backdoor to claim that defending the naira is okay even when the apex banks has said they are not.

Then look at this statement, this is one of the reasons why we do not think that followers of the lamba king are smart. Even in his lame attempt to be politically correct so as not to affend members of his group, he still could not hide how shallow they are in that their whatsapp group. How can you say you did not support floating but government should do away with multiple exchange rate, how else do they remove multiple exchange rates without allowing market forces aka floating determine the daily price movements?

I for one never supported floating the Naira. It was a dumb move. What was required was for the government to do away wiyh multiple exchange rates created by Buhari for his cronies to to steal and shortchange us.

LegendHero:
Reverse psychology.

Who ever told you Naira was being defended with the Fx reserve?

FX reserve is not meant to be static. It moves up and down for every nation and Nigeria is not an exception.

But naira is being defended, right? Some said its been defended with proceeds from treasury bills sales

LegendHero:
Reverse psychology.

Who ever told you Naira was being defended with the Fx reserve?

FX reserve is not meant to be static. It moves up and down for every nation and Nigeria is not an exception.

Validated:
I am obidient in heart and action. I believe that Nigeria should be greater that what it is now and the potential is very much there. That I criticize Tinubu does not mean I should not applaud good initiative. Nigeria is the only country we have. Tinubu will leave one day, but Nigeria will remain.

I for one never supported floating the Naira. It was a dumb move. What was required was for the government to do away wiyh multiple exchange rates created by Buhari for his cronies to to steal and shortchange us.

If CBN is using our reserves to defend the Naira, I support them to continue to do that but also look at policies that would discourage politicians and thieves from milking the economy through forex hoarding. Infact, the CBN should implement stringent measures that would reduce "forex trading" on our streets. Why would an able-bodied Nigerian be trading in currency when he ought to be in the farm?

Every BDC should be made to have a capital base of not less than $10m or Naira equivalent and a security deposit of same amount with the CBN. Thereafter, currency trading on the streets by unregistered entities, individuals, etc should be treated as economic sabotage with punishment ranging from 2-5 years without option of fine.

That said, patriotism does not mean we should applaud all government actions even when they are inimical to national progress, the more reason some of us opposed the idea of floating the Naira. If the government did not heed the warning when it did, by today the $ would have reached N2500. Yet, the defenders who now chide some of us would still have been defending government's irrational policies.

Defending the naira is not the problem, but people that think they know all are doing it underground but denying.
You can not use a country's economy like ours to do litmus test.