₦airaland Forum

obailala:
Activities of saboteur BDCs or banks inflating prices may be morally wrong (especially as they got the forex at a cheap rate), but it is an inevitable human action as long as the CBN continues to enforce a wide gap between official and black market rates.

In a country where 98% of citizens and businesses get their forex from the parallel market and pay black market rates, it is just silly for the CBN to still maintain 'official or interbank rates' which have a very large spread from the black market rates (true value). It is impossible for the CBN to enforce this present policy of forcing merchants to sell at a particular price, natural human forces of greed must take precedence and the business of round-tripping will surely continue. Which leaves me wondering the kind of 'float' which the CBN claimed it implemented some 5 months ago...

The gov't wouldn't fold its arms and watch them breech agreements for free either. They had an understanding with the CBN before getting the dollars from First bank and Travelex (the agreement was N385) . . . Gwadabe the chairman BDCs was all over the press foaming on all available mic, pledging compliance and integrity -- this is a classic case of '419'.

They were given concession for a reason. BTW, I believe the CBN and DSS would have better intel than Nairaland.
This was the same thing Ifeanyi Ubah called out, and asked why the government was watching hands akimbo, while all these go on.

Some few items would have to get off that list. Meanwhile, our major problem is not the inflow of dollars (be as important and chronic that holds), our major problem is/are saboteurs -- all the way from the Presidency, CBN, banks, politicians, BDCs, foreigners, companies, exporters, to Nairalanders, even the common man on the street without internet.

The above named are part of the problem, that ensures all policies have no/minimal effect.

I checked inflow and outflow, and in a sane country, even with all the issues, the Naira would still have exchanged comfortably between N220-N280.

We are just too smart and greedy for own good! "Over skill na hin dey kill monkey".

Forex racketeering is the new oil subsidy racket, albeit with a larger number of players.

dunkem21:
Did the government ever brother to talk to Ifeanyi Ubah or engage him about his boasts of crashing dollars?

modath:
We may be our own enemy but nothing good can come out of this.

obailala:
The value of the Naira cannot be restored by forces of demand and supply, not by the force of a gun.

Economic experts in the house, can someone please explain what it actually means to float the currency but yet, a gun has to be pointed at the heads of forex vendors for them to reduce their rates?

He said the best way out was for CBN to flood the market with enough forex, instead of using force to address the problem.

Sabby Dhalu, co-convener of the Stand up to Racism group, said: 'Donald Trump used the oldest trick in the book - he stirred up fear and racism in the context of a stagnant economy and the resulting fall in living standards - to mobilise a vote for him.

'The danger now is racists across the globe feel emboldened by Donald Trump's victory and racism and sexism become normalised through the most powerful figure in the world.

Ovokoo:
[s]How exactly do we reason in this contract. How can a group of armed bandits storm a public place like an airport, claiming that they were rehearsing against terrorists. Are we that dense in this country. Where's common sense in the things that we do?[/s]

Geniro:
[s]You are the shameless tool here.

Your uselsss lies won't fly here.

The CJN never alluded to that. the NJC changed her position when the Minister of justice indicated their desire to prosecute the judges based on the evidence they have and not that shown to the NJC

I double dare any ediot to prove otherwise.

Did you even watch the video ?[/s]

omenka:
I'm sure most people dont know that is Pa Chukwudi's alt.

blackpanda:
My dear u shld really be thoroughly ASHAMED of yourself. Did u even bother to read what u googled before pasting the trash First of all, I told u NJC does not dismiss but rather asks the judges to retire. And you went ahead to google and paste exactly what I said.

Secondly the rubbish you googled is coming after the DSS raid and only after the incompetence and bias of the NJC was exposed

The problem with nigerian youth is they dont read. You are too lazy to even scan through the website that you yourself googled. My friend pls just be quiet!

kcnwaigbo:
[s]This is not a quote from the CJN. This is a reporter's dubious interpretation of this

According to him, the NJC took the new stand, “following communications it received from the Attorney General of the Federation and Minister of Justice that he was embarking on the prosecution of the affected judicial officers based on the evidence on the ground

If judges are found guilty by the NJC, there are not suspended but rather dismissed!!!![/s]

Nigerians are not waiting for just a strike in the senate but a total abolition of the body.