₦airaland Forum

When we told them floating naira will have serious consequence since we ain't a producing country, dem say we no love Nigeria. Here we are today as a result of policy-somersault.

$1 is now N1,621 and Tinubu is just starting with Nigeria. He has already borrowed half of the money Buhari borrowed in 8yrs.

The naira fell to a four-month low on Tuesday at the official window as it traded at 1621. 12/dollar compared to N1611. 40/dollar on Monday.

This marked a 0.60 per cent depreciation from the previous day’s close.

This is despite recent interventions of the Central Bank of Nigeria during which it sold dollars to authorised dealers and eligible Bureau De Change operators, suggesting that foreign exchange demand continues to outweigh supply.

“In the interim, we expect the naira to remain weak, driven by tight market liquidity due to the CBN’s limited capacity to significantly intervene in the FX market,” Cordros Capital Limited recently said in an update.

The CBN Governor, Olayemi Cardoso, said that the central bank was not interested in defending the naira but allowing the market forces to determine the price and that it would merely step in to provide liquidity in specified segments of the market.

At the close of Monday’s trading, the naira fell to 1,611.40/$ on the Nigerian Autonomous Foreign Exchange Market domiciled on the FMDQ Securities Exchange.

The depreciation of the naira reversed the gains recorded last week.

The naira closed at 1,611.40/$ on Monday, about 0. 13 per cent weaker compared to the close of 1,609/$ on Friday.

The daily turnover stood at $179.34m compared to $168.3m on Friday with an intra-day high of 1,622/$ and an intra-day low of 1,500/$.

At the black market on Tuesday, the naira traded as high as 1,630/$.

A ship equipment merchant in the Apapa area of Lagos, who spoke with The PUNCH off the record, disclosed how he had agreed to sell a piece of equipment at the rate of 1,550/$ on Monday evening only to wake up to higher rates on Tuesday.

https://punchng.com/naira-falls-to-1621-at-official-market/

Late Gen Sani Abacha is the Only Nigeria Soldier in History That Passed Through All The Ranks to General

So What Will Now Happen to All Unclaimed Funds , That Bank Managers Have Eaten?

Only The Word of God

Just Continue, Don't Give Up

Which Senate President in Africa, Can Be More Stupid Senseless & Foolish Then The Present Nigeria Senate President?

Even When it's Stupid & Foolish

Mrincredible001:
You have to respect other people's choices no matter how it looks to you

Mumu SAN, Who Adviced Him
APC Puppet, Sandalili

If You Think You Are Stupid & Foolish, Then Think of Those Who Stay Awake Watching BBN contestants While The Sleep.

Useless govt bereft of viable economic policies. Government run by propaganda. How many Nigerians do you think have 40k to purchase deceptive rice that you're peddling...?Very fraudulent govt. Nigeria needs revolution to completely change the status squo. We're led by criminals

Deceptive policies,before it was Nigeria custom that wanted to sell 25kg of rice at @ I0k,nothing come out,now it the government itself that is coming up with another fat lie to deceive Nigerian

If You Think You Are Stupid & Foolish, Then Think of Those Who Stay Awake Watching BBN contestants While The Sleep.

The Olympics is supposed to be about honoring great athletes in a world competition not this sick shit. TURN THEM OFF. These blankety blanks destroy everything they touch. PROTECT children against groomers.

This is disgusting and repulsive beyond words, and maybe best symbolizes the decline of Europe

This Is Satanic & Devilish

Valar Morghilis

The Fear of Possible Coup

No Nigeria Leader Can Do Such
Even Obasanjo Dey Find Way to Still Come Back At 87yrs

F G is Frustrating Dangote The Way Dangote Frustrated Nigerians With His High Cost of Cement

Abel Damina

It's Possible

Late Obaseki Gone

PDP Go Wound Seriously For Edo,

Good Advertising For. NIGERIA BREWERY

Good Advertising For. NIGERIA RREWARY

Dem Don Catch Ooni too?

NLC & TUC sucks. Imagine agreeing to 70,000 MW, where a bag of rice is 90,000. Does it mean anyone who enter that Villa has some dementia. Do you guys carefully tell them the hunger in the land where people are dieing and depression the new normal. Nonsense.

No NLC President Like Adams Oshiomhole

Any country that the Political Class Does Not FEAR The Citizens is a Conquered Nation.

How Can Less Than 2000 People be Holding Over 200 Million Lives In BONDAGE & Hostage Situation?