₦airaland Forum

InvertedHammer:
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People that offloaded around N1700-N1900 are waiting for price decline to load up again on $ again.
Anything close to N1000 round figure is a once in a lifetime opportunity to store US$. Then DCA the sucker.
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Stop lying.They didn't offload at that time because they fully expected it to reach 2500 to 3000 . That was why there was scarcity of dollars at the time.They were badly burned and many are still holding.
Only tears await them because Tinubus plan is for a stable economy where the naira is not defended with dollars so when the time comes and it goes low,it says low and the wailing in the country will be great.Something to look forward to. I hate unpatriotic fools.

ExudeLoveToAll:
You think economic saboteurs are the ordinary citizens? It's the Government and those around the corridor of power.

Not hundred percent true. Some are in government but most saboteurs are ordinary citizens.
For example two nights ago someone created a topic here saying that people should start buying dollars because naira is now overpriced and government has subsidized it.
I warned him about the consequences of his actions but he kept badmouthing the naira. It was around 2.00 clock in the night so I went to the efcc website to notify them. I then went to sleep intending to notify the ogun state governors office in the morning so that an example could be made of the fool. Unfortunately the thread was deleted before I woke up.Vrry very annoying. I was looking forward to the government making an example of that obedient fool.

Pepperdemisback:
Just say 2 Igbos.

This should not be seen as a tribal thing but as a movement to stop the law and the police being misused against the masses.
All nigerians should participate.

Pepperdemisback:
Why is everyone hiding the post this woman made that Erisco is killing people and the killings should stop? She was asked to apologize which she did, only to go back online that the apologies was under duress, that she didn't apologize and continued talking rubbish. Since she's standing on her words, let her show the proof of killings despite her saying she's buying the product for a first time.

I don't think most people are involved because of the review.Its the bullying, harassment and intimidation aspect of the case that is the main crux of the matter.
He should not have got the igp to arrest her and get her to Abuja just to intimidate her.
If the chief constable of England were to try that,he would have been sacked without benefits within three days. Money should not make us behave like zoo dwellers.
I told the cook that did my Christmas cooking not to bring any erisco product into my house and she complied.
I'm not happy hurting the man's business especially now that we all want to encourage local manufacturers and limit fx expenses but the bullying has to stop.

joshjc:
Even though erisco overreacted I there's a conspiracy against the company, due to the sudden may foreign media are reporting it

There Is no conspiracy against the company., nigerians are just tired of rich people using their money to oppress the poor.
I like Nigerian entrepreneurs but I find it difficult to like this erisco guy because of this bullying of a defenceless woman. She is somebody's daughter,mother,wife,niece etc and this erisco guy just trampled on her rights.
The law and the police should not be bent to money's will.

festacman:
That's why the Erisco competitors from Asia are pushing the Chioma story in international media. They are getting back at him for forcing them do the right thing in 2015.

You are first class clown.nigerians like me are the ones pushing the Erisco story because we are tired of our laws being misused by moneyed people.
We'll continue to boycott erisco products until the man gets some sense

PARADIZEPRIEST:
Scammer enefuele did not make any mistake he duped Nigerians ,he destroyed banking system of accountability,transparency and probity.
THANK GOD CARDOSO IS REBUILDING OUR BANK SYSTEMS WITH STRONG MPC MEMBERS.
NIGERIA RISING GREAT AGAIN IFSHA.

There are many economic saboteurs currently ensconced in Nigeria and the government will have to come up with a plan to deal with them otherwise gains could be shortlived

Birdbyrde440:
Let it go to 100naira/1$ I will be waiting to buy more $$$.
Besides since they killed binance in Nigeria, the price of goods have continued going up, POVERTY persists.

You still need to wait for at least six weeks for the fx gains to translate to cheaper goods at the market.
I've always maintained that most of Nigerias problem is caused by the proletariat and not the leaders
Nigerians need to be protected from hurting themselves so the government woululd need to criminalize the hoarding and saving in Nigerians are too weak to be trusted so shooting a few people for economic sabotage might be in order.

babasolution:
How can children not be worse than their fathers when their fathers where bad in the first place,bad parenting bad children,the older generation destroyed the Nigeria and the youths.

The youths were born into a destroyed Nigeria, the older generation were born into a Nigeria set right by the colonialist and founding fathers, but what did they do with it?

They destroyed it

Excuses, excuses. My neighbor is a high ranking policeman who taught his children well.
A few months ago his son an undergraduate came home driving a 12 million naira car. A huge furore ensued. He certainly did not copy Yahoo Yahoo from his father.
A disciplined and controlled man gets things done because excuses never ends. Nigerian youths lack discipline and control. Did they learn cultism from their parents. In the old days, cultism was about joviality and drinking palm wine. It is now about violence.

Birdbyrde440:
While Yemi Cardoso is busy pushing Propaganda that
"Forex holders are rushing to overload their dollars "

He forgets that their are speculators waiting on the sidelines with billions of naira waiting to scoop cheap dollars. During the Emefiele's time as governor of CBN, to prevent people from scooping up cheap dollars he did two things: he created a parallel market and he banned Nigerians from buying USDT and cryptocurrencies.

I myself, a nobody in the scheme of things will work harder, earn more naira and buy more dollars to add to my stack if at all the CBN is capable of bringing down the exchange rate to $1/900.

As at the time of writing, $1=N1418.

I don't think you get it,once it gets to 900 to one,it stays there as there is no binance to help saboteurs like you and evident loopholes will be blocked.
One thing you have to understand is that the difference between 900 and 1800 is what causes some families to go to bed hungry. I think all the dollar hoarders should be shot on sight by the security forces because they are worthless excrements of unpatriotic mess.
I think that the government should introduce economic classes for all citizens even if it's only on radio.
In Nigeria even the certificated are brain dead

The Erisco versus Chioma case is beginning to make nigeria look like a banana republic.l hope that the authorities would wade into the matter and stop the law being misused
https://metro.co.uk/2024/03/28/woman-faces-7-years-jail-saying-tomato-puree-sweet-20544809/?ico=top-stories_home_top

babasolution:
Actually my post isn't about the church but about the colonial GENERATION who destroyed Nigeria.

There's a common denominator about them
All they know and understand is religion.

For the Christians their ultimate focus is church church ,Bible ,God etc.

The Muslims is the same.

They are the generation that killed all thriving industries and created the current booming religion industry in NIG.


That has been their legacy has they bow out,
Religion.

They have built nothing
They have left nothing

Younger generation are building Nigeria from the ground up.

The only thing the colonial GENERATION have built successfully in Nigeria is the religious industry with thriving booming churches worldwide and Islamist fundamentalism.

No technology, no innovation, no economic progress, no infrastructure, no political advancement, no industries,only few businesses,no rule of law,no educational advancements etc .

only
Religion, only religion

Stop lying. Younger generation are building nothing. They are lazy greedy fools without any control whatsoever over themselves.
If they are serious and intelligent as you claim,they would have taken power by now and change things because they do have a path to power. I hope I don't have to explain that to you.
They are dunces following an Agulu miscreant.They are not very intelligent. I had to report one of them to efcc as he was trying to crash the economy because he did not like the naira gaining. I wanted to make the fool a scapegoat but unfortunately the thread was deleted by the time people from ogun state governors office could see it. Compare educated British youths and Nigerian youths,you will weep.
The churches built schools and hospitals. They also had a civilizing influence on the people. It is not intelligent to throw out the baby with the bath water .
Bello was youthful when he became governor: he is now being pursued by efcc. The northern senator that took dollar bribe from Otedola is a youth. In Nigeria the children are worse than their fathers.

Maybe because it's easier to steal in dollars than in naira as the dollar is more portable
Imagine that governor trying to stuff 200 million naira into his babariga. 500 thousand dollars is much easier to disappear.
The answer to your question is because nigerians don't love their country.

Peter obi,the Agulu mischief maker trying to scam his way to Aso rock

SoNature:
APC is the master of widespread propaganda in Nigeria. No party comes close.

You people want to cause panic sales, but ain't selling my USD, bro.

I have more faith in the US economy than the Nigerian economy. BTW, I am waiting for my mallam to tell me that USD is now #900.

You liar,you haven't got two dollars to rub together

rinzaugustine:
do that all the time but I am trying to be a little bit greedy this time lol

Sell your house or your father's house and your car and buy dollars. You might be lucky and it reaches 3000 naira to one dollar within a few months. You'll be smiling, nothing ventured nothing gained. You can also borrow from the bank and use your properties as collateral.

MONEY247:
Who undervalued the Naira.....the same people defending it aahhh...
This government is not ready to take responsibility for growth....

What gives your currency value?
Is it not it's purchasing power....?

When you need a trailer load of Naira to buy a pack of bread how do you call that undervalued....

We do international trade, and we need to produce to get the foreign currency...or borrow to augment....

Produce, produce, whichever way you can do it...
Wether it's with diesel, and export to foreigners, the people exporting to us don't have two heads.

Let's start production, we have comparative advantage already... massive arable land....

How can we be importing wheat..... with all this land....
We have citizens in diaspora, they would still need Local food stuff, but even our export is not meeting Thier demand....

Produce and export
... nothing more...

You cannot be a producing nation overnight. The people exporting to us have a functioning power grid ,more patriotic and more intelligent citizens and less thievery.Producing with diesel makes your products uncompetitive .
You cannot run before you can walk.

rinzaugustine:
What kind of economic policy is selling the dollars you have to bolster exchange rate ? Why would a sane mind believe this will work long term and be dissuaded from hoarding the dollar? Once they stop all these FX selling, the next fall of the dollar will be around the 3 thousand naira mark …bunch of useless quacks

Put your money where your mouth is .Buy dollars now. You should be able to sell at 3000 naira to dollar within two weeks.

quadraheem:
Now that the dollar is drastically crashing and our naira is appreciating tremendously, how soon do we expect the prices of goods and services to come down?

Lol, which country are you talking about. Nigerian followers are worse than Nigerian leaders

MONEY247:
This is why the Naira is gaining



The CBN is selling at N1,251 so no trader locks in large transactions above N1,251



In essence, the Naira has floated but the CBN is intervening to strengthen the Naira by selling its FX reserves to BDCs are a price below the willing buyer/ willing seller price



Implementations? The Naira will gain value but FX reserves are paying for it



This is a band aid, the CBN is attempting to fix a problem it can’t fix without a high war chest of FX reserves



The long-term fix is to export..



The CBN is subsidizing $ flow to the BDCs



Who are these BDCs? Who owns them? What is their contribution to GDP or job creation?



I would prefer the CBN subsidize exporters



If you export and remit back to CBN you buy your dollars at $1:N1251

The surest way is massive production especially in areas with comparative advantage..
And cutting down on exchange rate manipulation...

I'm now getting annoyed with trainee economists like you blabbing on about export. Just how do you export when you produce with diesel unless you are exporting high end goods with a fat profit margin.
The naira is currently severely undervalued and the government is trying to help it find it's real value while the saboteurs who are plenty are trying to scuttle things.
Tinubu and the Cbn can only work with what they've got. I don't even know why Tinubu cares because nigerians are very bad people anyway.
When he removed subsidy, they complained, when he put in subsidy again to mitigate after naira lost value,they complained again that he has not removed subsidy.

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

Export goods and services with diesel abi.

Helinus:
So Naira will continue to rise until 1 naira equals 1 dollar? Dollar will not rise again because we are the major exporters only behind china.

How dumb can naira landers be

Fortunately you are the dumb one and you have made me lose respect for Nigerian intelligence. I lived abroad for decades and know that one dollar or a pound would not even get you a portion of chips in the US and the UK but 1500 naira would get you a complete meal in Nigeria meaning that the naira is severely undervalued
I don't have time nor the willingness to explain the significance of that to you but the long and short of it is that such anomalies would cause severe economic problems especially for a country without power infrastructure to manufacture and export to take advantage of it's weak currency.
You are actually encouraging nigerians to hoard dollars to the detriment of their economy while encouraging America to print paper money.
You are dumb beyond belief.Naira will find it's true value soon and you will lose.
I never knew knew nigerians are this stupid. No wonder.