₦airaland Forum

Kenochi:
When we tell people that there are external speculators or external Bureau D' change who are manipulating the naira,it is becoming obvious
I will rest my case as the days ahead will be interesting,I sincerely believe the naira will eventually settle at the best rate very soon

I tell you.. Most unfortunate. Pure economic sabotage

In its reaction earlier on Wednesday, Binance said “users behaving in a manipulative way” will be removed from its platform

[b][/b]
This is the real cause.. Manipulation

References1:
https://www.premiumtimesng.com/business/670511-forex-crisis-nigerian-govt-blocks-binance-octafx-coinbase-others.html?fbclid=IwAR0KcvS7CTaFAcMsoeNnhW2YRLqNMrGdugb_c3Wf5_1bHB6yyLgeYXdrq6g

Previous Thread:
https://www.nairaland.com/8007407/forex-crisis-fg-plans-clampdown

Excellent move!

fergie001:
Bayo Onanuga is Special Adviser on Information and Strategy to President Bola Tinubu

This is serious! Individuals wishing bad against an entire nation. Pure evil!

press9jatv:
Naira increased to #1740 after Fg block Binance website on Nigeria media space. I hope Fg won’t block Twitter and nairaland too.

Good news

Today I see lots of people not being happy the FG clamped down on Binance, some BDC and it's like. I seriously don't understand why they are not happy the naira is gaining.
Whatever profit you make from the rise of dollars will be used to buy ordinary commodities at an exorbitant price.

Well said

KnowAll:
It is fake rise in price hence y prices are already falling. In Kwara bag of rice is now 45,000 . That is y social media is bad, people catching cruise over everything.

Absolutely right!

Godoverevery:
Amen.


Before there eye Nigeria will become great and our children will eat well.

Nigeria will prosper while her enemies will perish in Jesus name.

Amen

Goodnews

3rdeyeNigeria:
Crypto has no benefit to local economy. It only benefit the owner of the trading platform and some lucky speculators (gamblers or trader).

Overall it can pull down a country.

Google: George Soros Vs Bank of England to understand how speculative trading almost bankrupted UK.

Good explanation

fergie001:
SOURCE

“This therefore gives the dollar a fake value against the naira which then sets a frenzy and mislead the market. This fake price is then often quoted by BDCs who raise their prices to meet the Binance benchmark even without any corresponding demand in that segment,"
This is serious!

State Governors need to be held accountable as well

ManirBK:
https://thenationonlineng.net/fed-govt-set-to-release-60000-metric-tonnes-of-food-grains-to-stabilise-prices/

Good news.. Action should be taken as fast as possible to ameliorate people's suffering

thesicilian:
This is what a working governor does. His second tenure is appearing to be even better than the first.

True

Truly action needed urgently

Lol.. NL forum eh

Origin:
Short term fix.


As long as everyone continues to use importer rather than local goods. The demand for fx will always stack higher than the naira....

From your gate to your living room to your bedroom everyone uses 90% imported in their homes. Even when local is available and cheaper. We all still opt for these imported items.......



We all know the solution but the fruit of corruption is to steal as to use all that glitters that is not gold....

Buy local to grow the Naira.


And it is still the same corruption that has our fx rising because our main trade partner is China and we should be concerned about the yen but our loans and corruption is in dollars.

Truly said

Nice one mr Wike

Laple0541:
LP is just like PDP and APC.

Imagine a party that presented herself to Nigerians as responsible under one Giringori Aló Koniun kigbe, yet to account for money received from unsuspecting donors nearly a year after the election?

Which 419 pass that?

Lol

Ibrahimcoomasie:
https://dailypost.ng/2024/02/20/shettima-confirms-interception-of-45-trucks-moving-maize-out-of-nigeria/

Good action

joelbooks:
https://punchng.com/50-niger-republic-bound-food-trucks-intercepted-in-zamfara/?amp

Good one by Zamfara state govt

State Bulk Purchasing Agency

Good action by Akwa ibom Governor

iwaeda:
https://dailytrust.com/food-prices-drop-in-kano-taraba-kwara-niger/

Very good news.. Kudos to the State Governors for proactive actions

AnonPoet:
The Niger State Government has begun receiving the delivery of 300 tractors, as promised by Governor Umaru Bago, from John Deere Ltd.

The procurement of 300 tractors is a demonstration of Governor @HonBago’s commitment to achieving his food sufficiency programme in Niger State.

This is good news.. Proactive actions by Niger Governor

We need more state governors to take prompt actions on agriculture and security

Good one mr Governor

RepoMan007:
Owen Hargreaves ?

Eden hazard ?

Owen should top the list. Such amazingly talented footballer.

Abou Diaby as well.

Roben

Marco Reus

Now at Chelsea we have both Captain & Vice injury prone..

So many great players with injury issues

This is a serious matter o

Ofunaofu:
https://dailytrust.com/food-crisis-maize-sorghum-prices-drop-as-major-feed-producers-suspend-purchase/#google_vignette

That's goodnews

Hmm.. Unfortunately Govt is a continuum

Paraman:
.



https://punchng.com/breaking-fg-begins-payment-of-asuus-withheld-salaries/?amp

Good action. More investment on our Federal institutions