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EFCC Raids Speculators As Naira Drops To $1,520/$ - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / EFCC Raids Speculators As Naira Drops To $1,520/$ (15678 Views)

Naira Drops At Parallel Market, Closes 900/$ At Official Window / BDC Operators Caution Currency Speculators As Naira Strengthens Further / FG Moves To Digitise FX Transactions To Punish Naira Speculators (2) (3) (4)

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Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by keymatt(m): 11:53am On May 15
This agbadorian regime is completely empty grin grin grin

4 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by omoadeleye(m): 11:53am On May 15
They should stop selling to BDC then
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by flyinnizam(m): 11:53am On May 15
hmm
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by gbengene1234(m): 11:54am On May 15
We keep hoping the Naira will appreciate against dollar but the opposite is what we keep seeing. Price of goods are going up again and it won't come down is 2 months time even it the Naira appreciates again. Does anyone in this country knows the actual way to solve the Naira o dollar issue? Enough of all this floating, intimidation and fixed prices

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Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Oneday82: 11:57am On May 15
I would have made headlines over my boldness and comfrontation I had with an EFCC official in Wuse Zone 4.

So it is now a crime to do free FX in my country? Like I can buy FX to dou business in peace. If they like, let the Dollar 💰 reached 3k, we go buy, na all Nigerians go suffer am.

Tinubu is big mistake and like one man said that anything that will make us miss Buhari will be the worse.

Today, you can freely change your FX and the battery is making it worse. You can't access it from there and all EFCC official can do is going about arresting people.... My question is for how long?

3 Likes 2 Shares

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Yankee101: 11:57am On May 15
No be by raid
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by winterfell007(m): 11:58am On May 15
You can't keep raiding BDC for speculating on the currency. It's up to you as the government to work on boosting our forex reserves, this will be cut off any speculation on the exchange rate.

6 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Ebeano49(m): 11:58am On May 15
Last last, the person wey build Lagos don scatter Nigeria grin grin grin

4 Likes 1 Share

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Omoapena(m): 11:59am On May 15
At this point, I'm not sure if dollar is ever coming down cry

3 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Ediffizy: 12:04pm On May 15
The real speculators are politicians/alhajis and not those BDC..people that carry dollars in large quantities hoard it/ sell at the slightest fall of naira..

1 Like

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Jagabanarmy: 12:05pm On May 15
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Ediffizy: 12:07pm On May 15
Omoapena:
At this point, I'm not sure if dollar is ever coming down cry


It isn't coming down any time sooner..by December it will increase 2000/dollar

1 Like

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by DryMouth: 12:09pm On May 15
Throwback:
Keep raiding, but prosecute and jail also.

Only foolish countries allow their citizens to hold a forex bank account within the local banking system, not to talk of allowing markets for forex trading in every nook and cranny of the country as though it is a food store.

What will it cost the government to shut down domiciliary bank accounts and any form of forex exchange outside of the banks and airports?
Mugu. Exporters and foreigners full Nigeria. They use that account to send money to different countries.

3 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by emmaitive(m): 12:10pm On May 15
TotoIsGud4boy:
Dumbos will raid this thread like EFCC to blame this current administration for the weak naira…. It’s like seeing this country fail gives them a high more superior to crack cocaine. Which gender complains the most ? Women!! That’s why the Agulu transgender with a feminine voice was sold on us and failed, hence the teeth gnashing and constant complains on this wonderful administration. Explaining to them the rot tinubu is cleansing in the system will be even easier to grasp by a 5yr old than this pathetic naysayers and sour losers suffering from yEAST infection. They’re still sensible people from the east tho, that despite being somewhat pessimistic just like all of us are (truthfully), still have hope in this administration and are willing to give Tinubu a chance, cos we’re sensible and good people with clean hearts.
tiefnubu zombie spotted

3 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by omoredia: 12:13pm On May 15
Cardoso has school cert in economics. Truth be told
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Procashtips(m): 12:14pm On May 15
Amigoss:
So nor be binance and crypto again undecided U'wa Zaagha,uwagbeho!!!!! Ogun Kee dis govt and Apc




Kerekere otenwen grin
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by TableLeg(m): 12:17pm On May 15
Smh. CBN, when will you people learn?
Fu...cking dunderheads!
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by appini: 12:17pm On May 15
Once it hits 2k per a dollar. I don enter Dangote level be dat. Straight!!!

1 Like

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by rinzaugustine: 12:18pm On May 15
Everything obidients have said would happen to Nigeria if tinubu enters power have all come to reality A-Z but not within 4 years as they thought but in less than one year. Before tinubu I never believed anybody would ever be worse than buhari but Tinubu have not only proved all of us wrong but affirmed our belief strongly that Peter Obi will make Nigeria a better place and put the country on world map of great nations

5 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Chicentt(f): 12:20pm On May 15
Tilumbu on the beat grin

2 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by iLegendd(m): 12:22pm On May 15
If they want the Naira to appreciate, the next thing to ban is electricity and water. People are drinking too much water and enjoying constant light, hence it's affecting the Naira. I thought after banning AbokiFX, Binance and co. we'll magically be enjoying 1/$.

9 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by rinzaugustine: 12:27pm On May 15
I hope they don’t descend to level of banning and arresting market women selling Agbado and ewedu for driving up forex. Failures will soon start blaming Peter Obi…this is a man the people who hate Nigeria but turned emergency lovers of Nigeria due to tribalism said he built Lagos , better than Peter Obi, will assemble technocrats to fix Nigeria…sm

2 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Amayabor1: 12:28pm On May 15
TotoIsGud4boy:
Dumbos will raid this thread like EFCC to blame this current administration for the weak naira…. It’s like seeing this country fail gives them a high more superior to crack cocaine. Which gender complains the most ? Women!! That’s why the Agulu transgender with a feminine voice was sold on us and failed, hence the teeth gnashing and constant complains on this wonderful administration. Explaining to them the rot tinubu is cleansing in the system will be even easier to grasp by a 5yr old than this pathetic naysayers and sour losers suffering from yEAST infection. They’re still sensible people from the east tho, that despite being somewhat pessimistic just like all of us are (truthfully), still have hope in this administration and are willing to give Tinubu a chance, cos we’re sensible and good people with clean hearts.

Lol. Said so much without saying anything.

We shouldn't blame this administration for the weak naira? But Emilokan advised the Buhari administration to print more naira. Emilokan supported the last administration. You yorubas supported the last administration (even when Fulani herdsmen were killing you people and displacing your kinsmen to Benin republic as refugees).. When people complained that Buhari was killing this, country, you people called them Wailers. Now, you are wailing! 🥲. So, we should blame the current state of the naira on the last administration that you yorubas actively supported twice to win an election? Lol

When are guys going to come out to protest like you did under GEJ?

So what is weakening the naira? Aboki forex? Binance? Cryptocurrency? Bureau de change operators? Lol. 🤡.

PS: I am not Igbo o. I'm from the SS. Before you make it about tribe and leave the matter on ground

6 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by wonlasewonimi: 12:30pm On May 15
Riosystem:
We need to focus on manufacturing and production, and reduce our high level of importation.

I'm afraid we can't do that with 2300 megawatts of electricity. Talk about being in deep shiit

1 Like

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by rinzaugustine: 12:31pm On May 15
TotoIsGud4boy:
Dumbos will raid this thread like EFCC to blame this current administration for the weak naira…. It’s like seeing this country fail gives them a high more superior to crack cocaine. Which gender complains the most ? Women!! That’s why the Agulu transgender with a feminine voice was sold on us and failed, hence the teeth gnashing and constant complains on this wonderful administration. Explaining to them the rot tinubu is cleansing in the system will be even easier to grasp by a 5yr old than this pathetic naysayers and sour losers suffering from yEAST infection. They’re still sensible people from the east tho, that despite being somewhat pessimistic just like all of us are (truthfully), still have hope in this administration and are willing to give Tinubu a chance, cos we’re sensible and good people with clean hearts.
trash

2 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by ccrenda5540: 12:32pm On May 15
Eradicate the bdc
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Arijude(m): 12:36pm On May 15
Lol dead country ruled by a dead man.
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by obaidan: 12:43pm On May 15
I thought it was binance and crypto traders that crashed the dollar the other day...this govt be chasing shadows.
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by Geovanni412(m): 12:44pm On May 15
Racoon:
https://punchng.com/efcc-raids-speculators-as-naira-drops-to-1520/?amp


Why do they always have to wait before they raid these guys?

It's as if someone is making money off these rapid peaks and troughs of the naira

They didn't raid after it got to 1,200 .

Rather, they waited till it got to 1,500.

2 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by fineboynl(m): 12:46pm On May 15
Throwback:
Keep raiding, but prosecute and jail also.

Only foolish countries allow their citizens to hold a forex bank account within the local banking system, not to talk of allowing markets for forex trading in every nook and cranny of the country as though it is a food store.

What will it cost the government to shut down domiciliary bank accounts and any form of forex exchange outside of the banks and airports?
you are a fool. Is it today Nigerians starts having foreign currencies account? Another blame now is domiciliary account?

3 Likes

Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by theredaddy: 12:46pm On May 15
DaddyCoool:
Only our dear country.
Only Nigeria arrests people on the streets when their currency drops!
Canu imagine, say, US, arresting wall street traders or ANYBODY for that matter if dollar drops😆


Did you just compare wall street to aboki hawking dollar at sabo cheesy they aint the same naw what you don't know ask or study on it

wall street trade virtually they don't handle dollar/cash physically, what you will never find abroad is some people hawking foreign currency on the street
Re: EFCC Raids Speculators As Naira Drops To $1,520/$ by obaidan: 12:48pm On May 15
Ediffizy:



It isn't coming down any time sooner..by December it will increase 2000/dollar
U can say that again. Demand surges between now and october...need to pay tuition, the sun is out in Western countries nigerians want to go on summer vacation, the ones that believe medical check up abroad is the way will prefer to go now

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