Olayinkaoj:

yawa, but good for people at home sha, $200 per week -- 36k, haaa!! chei mama dey enjoy oh!!


The laughter shd not go on too far becos the higher the exchange rate, the higher the prices of goods and services. What goes round comes round

But it does take time to come round. You know why? I have a lot of Building workers in Nigeria due for payment at the end of this month. The big swing in exchange rates put more money into my pocket. I am even considering adding more money for them to cover inflation adjustments, but the extra money will be called performance bonus.

I was just thinking. When I become the President of Nigeria how will I resolve these problems,

I would rather appoint a mallam from the black market, appointing people like soludo to manage monetary policies is a disaster. People like soludo have too much book knowledge. Too much book means no action which transalates to poverty, Too much book gets in the way of common sense, it kills creativity. The London School of ecomonics is advising our leaders here in the UK to put pressure on the banks to keep lending, Book non-sense (" Teacher teach me no non Sense" Debt got us into these problems, and Debt is not going to get us out. The Capitalist system is falling. If the horse has fallen, the next thing to do is to disembark, but to keep riding is a fool's strategic way of expressing and enforcing ignorance.
Leaders in the western world think politically before they think common sense. And we still buy their books and read in our universities what a dump idea.

As future the president of Nigeria, I will support those that are ready to be hands on. Then Nigeria can bring something out of herself. Then we can decided to plug our wells and live on the product of our brains. Money is not cash , it is the ideas in that little ball you carry in between your ears.

If this offends anyone, Apologies, But if you where Mr president where would you read your script from?, From people like Soludo?

honsule:


i wonder 4 them o.maybe,Black market

Please ignore yahoo. The boys that updates the yahoo site don't know the mallams all they can do is give you a guide price. I advised very one to buy the dollar and keep when it was about N130. I hope you did. N180 was my target price and we are there already,  N200?,  I am not sure. But the best thing is to keep an eye on the US recovery. All these economic problems started in the US and recovery/ demand of oil ,  will start in the US. So we are watching the US closely.

Industrial age problems. Our parents fault, they told us to go to school and all will be well. There are too many people still following that advise. But our parent are advise is based on thier own paradigm. In thier days after University you walk into a Job with all the benefit and official car. In the information age that does not work:

These are things I will advise you to do:

1, Because you have finished Univeristy does not mean learning has finished, keep learning. Look for a skill that people need.

2, Go and learn that skill

3, Offer you services for free where you think you will like to work.


As an employer: I am always looking for people that can solve my problems not people with degrees.

To me a capenter is more useful than a sociologist
To me a good cleaner is more valuable to me than a Zoologist
To me an IT professional is more valuable than a Jornalist

Be realistic with what employers want, ask your self , How can I solve the problems that this company have? Nigeria is full of problem , i tell you,

The more difficult the problem you can solve the more money you get paid. If you are solving for me cleaning problems, i can easily replace you. But if you are solving my accounting problems I will think twice before replacing you.

So make yourself useful. That you go to University does not mean you are practically useful. How can a zoologist make money in Nigeria? and some people are still paying top money to register for courses like that in UNI.
And please DO NOT be Desperate. Be focused. So take it easy brother, but make sure you take it.

samparian:

Speaking on behalf of Nigerian businessmen,i'd say "WE ARE IN TROUBLE"
only God can save us. there are losts of containers at various ports awaiting clearing and most of the owners cant get money to clear it because they depended on the banks for money which is not forth coming.
well, i never believed in borrowing from banks, so i'm safe in that angle, but the truth is that the rise in dollar or rather the fall of the naira will cause a scale of infaltion never seen before unless something is done about it.
many importers have made orders from factories abroad but cant get their supplies because of the naira crash.
i personnally have goods in a chinese factory and they called yesterday that my goods are ready.
My people, i cant pay 175 naira for a dollar. considering the balance i'll pay the factory,, the difference is huge!!!!!!!!!!!
i couldnt sleep last night.

I really pity your situation. The only comfort I have for you is that Easter is coming a lot of Nigerians are coming home with money. That may swing the price lower a bit . But as you know there is economy problem here as well. I Just came back from the USA,  men,  the people down there are suffering a lot,  unless you are in a profession like the medical profession. Most people are losing their homes right left and center, landlord are not telling tenants to move until the bank foreclose and board the house.  I also notice that Food is very expensive in the US compared to the last time i visited,  More people are moving into washington for Jobs for some strange reasons, maybe obama is providing more opportunities there, I don't know.

I still think things are still more stable here in the UK. on the Job front, if you have a good skill.

Dis Guy:

what do you guys do with the figures?

Business, As for me I send loads of money to Nigeria for real estate,

luckyme9:

Bac, I guess you're right. Today two people cofirmed 180+ to a dollar
Another NL source confirmed 175 at Eko Hotel

Yes brother, I pity those businessmen in Nigeria that survive on the exchange rate for business transactions. And the people that do not have a way out but to survive on imported goods. Inflation is the order of the day. Soludo and friends knows they do not have power to stop this. All they can do is talk empty talks.

The Number on that Bike looks like its VIN Number

Don't fall for 419s be careful. Let me give you an idea, take the following steps

1, Keep the whole money in the bank, withdraw only about N250,000
2, Look for some one with a good voice, and knows how to read Yoruba very well
3, Hire a very good one with a very good voice
4, Buy time in one of the very good studios in Lagos and buy a very good Yoruba bible.
5, Bring your new staff to the studio
6, Get him to read the Yoruba bible while it is been recorded by the studio.
7, Start with the new testament first, later you can do the old testament.
8, Make sure the quality of the end product is very good, if not, correct all mistakes, don't take average result like the Nigeria film industry.
9, Burn them onto CD and Package them well. Register the copywrite(Although this never works in Naija)
10, Market them in Nigeria by supplying church bookstores , Christian Bookshops, and which ever place you can think of ( If you can't do this yourself I can introduce your product to the 2 biggest christian distributors in Nigeria) I can only do that if the quality of the product is good, I don't settle for less qualityr
11, Send me an email, I will get it into the american and UK market for you.
12, Make the Marketing and distribution fast to avoid copwrite violators from ruin your profits.
13, When you have made enough money , email me and I will advise you on how to invest in Real Estate, but if you decide to go out and spend thinking you have arrived, may GOd help you.

This idea is given to you as a free gift from me you. If you procastinate, I hope other reading this can beat you to it,

Good luck , although I don't belive in luck,

There are over 6 billion people all over the world. Most of the foolish ones are in the developed counties, they think they can reap where they did not sow. That is the market target. Most of them are still watching "Who wants to be a millionaire" if they switch off the TV and check thier email, they will likely fall for it.
But as long as thier TVs are still on, they are potential targets

No one wants is here, Immediately naira leave the shores of Nigeria, it is useless my brother. I don't know of other countries in Africa though. But usless in the USA and Europe.

I Advised people to buy the dollar and keep a month ago, I hope you did. if you are selling now do you know that you will be laughing to the bank. My target price is $1 - N175,

Nothing is stopping this one, not even Soludo X 100 , except JESUS of course,

Let's say a little prayer for Our Nation naija,  Close your eyes ,  you in the back, i say close your eyes.


££££££££££££££££££££££££££££££££££££££

Can someone say a big Amen from the Back

That you have a Phd does not mean you can handle this type of crisis. Soludo is just going through the motions. He has not got a clue what to do. The best thing though is to tell the truth, the truth is that not much can be done for the naira,

kallmebola:

Be very careful so that you will not end up spend 20m without result  for the job of 12-14m.
because supervision is very important in that kind of project to avoid using inferior material and proper coordination.
cheers

Very true. I visited a house i loved in Ikorodu on my last visit .  Before the decking of the building I love the design of the building so much, the use of cement and iron rod was great, now the owner has changed the contractor. New contractor used Fake materials for decking  to the roofing level. The owner cannot tell, I was told the owner hired the new contractor because new contractor has qualifications and the old contractor has no qualifications but born into the building trade,  When I entered the building you can easily see that the Decking is shaking. Too many thieves in Naija. Get good advise before parting with your money. I have seen projects of N10M run to N21M, too painful to see money wasted like this. www.nairainvestors.com to learn more. You don't have to do business with us, but learn from us it is free information, let us take those foolish money suckers out of business. it will sure help you save a lot of money as well.

Today rates please £ and $

triistar86:

@ BAC its actually so surprising that you keep expressing your joy at the fact that the naira is falling. I have watched for a while and noticed this trend. Imagine you saying Amen to someones comment about the dwindling fortunes of the Naira. Have it in mind that what goes around ma Brother definitely comes around. No hard feelings cos I aint hating on you for any reasons its just an observable truth. Things would can definitely be better for the nation thats ma hope. Cheers.

@Tristr86,
Very good observation, I have a huge investment in Nigeria real estate, but as I am not looking to turn them to cash, so the fall of naira does not make much difference to me. But on the other hand I am still investing heavily using ££ and as you well know the ££ has been pulling back at an alarming rate against the $. That is causing my money not to go far enough. The only hope I have is the Naira falling against the dollar, that will make me recover a little bit from the falling £.

That is a picture of where I stand. The way currencies affect everyone may be very different. But does that mean I do not pity my Nigerian breadren? No I do feel for them. But until Nigerians can find other ways to serve the world by not only drilling oil, I don't see naira appreciating in an economic down turn. We have left the industial Ago long ago, we are in the information Age, we are about to enter the communication age. What is Nigeria doing about it? They can't even turn on the Light constantly in a city of 10M people. The last time I visited a police stopped me at Ikeja Allen Junction for going through the red light even though it was green. I have to pay him an offering of N1000, and that is what our so called empty headed rulers are doing as well. Nigeria needs a lot of cleaning up to do.

Well this is epistle written and read by me, don't take it as gospel.


Peace

Affalatus:

The Naira is being set to crash against the Dollar by Nigeria's reserve Bank the CBN as it claims it has to safe guard its Foreign exchange reserves. Nigeria looks set to face inflation from scarcity of international trade products and a drop in world wide production levels.

Amen brother,  Down the naira goes again. Inflation will be mad in Naija in the next few months. It will take time for all these instability to feed through.

When I was in Naija last week I when to buy tiles for one of my unfinished projects at a company on the oshodi- Mile2 express. The owners of the company told me they are still keeping december prices and they don't know what to do as their tiles are shipped from spain. I asked if Naira goes to N200 to a Dollar. The guy said if that happens, he will close shop and go back to his country as not many nigerians will be able to afford their products. And that translates to Job losses as well.

Take the advise from our website www.nairainvestors.com

And also watch this video http://www.youtube.com/watch?v=DhR5mYs9SA0

Best of luck. and be careful there are dangerous contractors in Nigeria. They don't care about human life.

isolo:

@BAC how much was the Dollar?

Last week I was told dollar is N147 buying not selling. So selling should be about N145

Just got back from Naija today. Last week I changed Pounds for N220. White market.

Damola,
   Please I am making my way down to Naija this weekend. Please keep us updated.   ££££££ Rates Please

damola1:

All my rates quote are directly from the white market.

As of today, or this morning, or 1min. Ago, it's N148 vs 1USD.

It's to come down,

Sorry ooo Damola,
The rate you quoted is not correct. It is the Yahoo version, we can all see the yahoo version online. The one we need is the White Market value. or to be negative "BLACK MARKET ONE"

damola1:

All my rates quote are directly from the white market.

As of today, or this morning, or 1min. Ago, it's N148 vs 1USD.

It's to come down,

Please when you update us. make sure you give us £ rates as well. There are a lot of people who need £££ rates as well

Someone emailed me today from Nigeria stating that dollar is now N200. Please can anyone in lagos confirm this from the White Market.
As you may well know, our Nigerian friends likes to blow things out of proportion. I still can't believe it though.

Now if dollar goes to N200. There is big trouble for Nigerians. no doubt,

I thinK i Know what has happened. The reason why this application was turned down is because your uncle's normal monthly balance on that account is normal low. But your uncle has transfered money to that account in preparation of your application to the embassy. The british people have known that trick for a lot of years now. And they have all the legal power to turn down the application. What they are saying is that your uncle has borrowed the money, paid it into the account to fool the british consular. It does not work.

if your uncle is a high earner in Nigeria. He shouldn't have to resort to pumping his account up, It is called pump and dump in the UK. There is no point going through the appeal process. Note the mistake you have done this time, then wait for next year. And then go again. This time make sure that transactions on that account looks legitimate. And make sure all you are doing is saying the truth and nothing but the truth. Best of luck. And please never give up, no matter how many times they reject. If come here to study in the UK, i tell you it can be very priceless in the future. So don't give up please. And remember if any one offers you help in exchange for money, don't do it. The British consular prefers you do everything yourself without paying touts.
BAC

damola1:

Buy at your loss,

THe thing has started droping. It's around: 149 now,

That was a Dead Cat bounce. Soludo's talks cannot produce dollars. You need dollars to support this currency. Until we ascertain where dollars will be coming from,  Target remains N175. Oils cannot produce those dollars now.  And another consideration, banks abroad have been moving their money out of Nigeria as they are in trouble at home. Santanader the Spanish Bank,  owers of Abbey in the UK, has moved loads of money out last year. Continental Bank has been affected drastically by that  move. Nigerian sending money home from abroad are worried about their Jobs,  So less money is flowing in,  Nigeria's dependence on oil is not paying off. Oil is going to stay where it is as a slow down in the global economy is huge, less oil is now needed, hence the price.

These are not speculations, they are real fundametals. if you think otherwise state your reasons please,  direction for Naira is down Brothers and sisters in the house,

The fundamentals are not looking good for naira at all. There is nothing soludo can do. if he tries to fill the gap using the Reserve, he is digging another big hole for Nigerians. It does not work. New Target N180 to a Dollar. Everyone out there in Nigeria should be buying dollars right now,

Take some of that money. Go to good seminars and learn, how to run a business, how to deal with People, how to lose all the money, cash flow, how to see what others don't see etc, Then go out there and lose all the money.
This may seem odd, but after you have lost all the money you will be left with WISDOM. With wisdom, you do not need money to start a anything.
The advantage of using this system is that if you become a very rich man, you are not afraid to lose everything and start all over again. That is exactly what I have done, I was taught this by an American friend I met in NewYork when all I have was lost. years ago. And it is the best system I have ever learnt.

Don't forget to enjoy the Journey.

Car too low for Nigeria. When he is planning to travel to Naija I will have to borrow him my Okada.