₦airaland Forum

Yankee101:
They tricked Nigerians
Pumped in dollars
Gullible people sold their stock
Political thieves changed those dollars we were told they had in warehouses to dollars. Now they’re letting it go without much support. They burnt 1bn dollars in 30 days

Which countries have 2 currencies of different colors operating at the same time without phasing one out?

Tinubu and his boys are a scam. There may be a lot of activity but no progress. Na retrogression

Fake news. Even Bloomberg that publsihed the fake news have made clarifications. CBN has not dropped dollars in the black market for rates to drop. It is those hoarding dollars (presumably politicians) that threw out their dollars thinking the rates will keep falling. Now they have resumed hoarding. There is no single reason or fundamental for Naira to keep losing value except for corruption and economic sabotage. EFCC should identify and go after the saboteurs, hoping that Nigerians will not protest and start saying 'leave our man alone'!

kelbranty:
Well, I don't know what to believe now because he himself said the lady that owns the sealed building has a store where she sells Chinese stuffs but could not show us the store. So it's possible there is a supermarket (big or small). One thing that we can say is a fact is that, there's is a store in that estate. Maybe that guy was denied access to the estate and not the store or he was actually denied access to the store.

What was the guy looking for in a private facility? I can choose to sell things from my house only to people I know. That is private. FCCPC was just flexing muscles for nothing. There was no need to have sealed the place. It is important to seperate emotions from reality. There are places like this in Lagos. They do home chinese cooking for family & freinds. What is bad in that? From the look of things, there are no adverts, there is a locked gate etc. What is anyone doing there? What would you go there to buy?

johnvictor82:
The School Management has reacted

👇

https://geeky.com.ng/2024/04/23/bullying-lead-british-international-school-reacts-to-viral-video/

Typical nonsense reaction, pretending that they are not aware that bullying is going on under their noses. It goes beyond the school management though, some of the blame goes to the parents (especially mothers). I have seen a case where a boy was punished for wrong-doing only for the mother to come to the school to fight the teacher and to warn the teacher never to touch his son. Some parents say things like - 'It is teaching that I paid you teacher for, dont ever punish my son, just stay with your teaching'! This attitude of parents is what makes teachers and principals to turn their backs at some of the wrongs the kids do!

Chinese sell things that can irritate Nigerians. What if you go in there and you find lizards of different types and sizes, cocroaches and stuff like that? They also have places inside inside where the eat! If you are close to a Chinese they will take you inside. It may not be discriminatory as people are concluding!

Very retrogressive idea.

Did they actually vote or they simply rigged in whoever they wanted?

slowice:
The dollar drop is fake and unsustainable.

Business people already know this.

I am not an APC supporter and I think you are wrong. I dont think dollar will climb again to 1500. I actually think it is moving towards 1000.

Zonefree:
Clear conscience fears no accusation.

If he keeps quiet on this very grave and grievous allegation, many people will think the allegation is true. This gospel minister is popular all over the world and some miscreants just want to fabricate evil allegations against him to tarnish his image. Not fair at all.

It looks like fun to them now. May they be delivered from the consequences of their action.

Very welcome news.

We should appreciate FG for acting promptly.

They should do same when the kids of poor people also complain.

Let our citizens feel their worth as citizens, rich or poor.

They are holding evidence with bare hands! In 2024. Amazing!

Smart move. They all want to take our smart people away!

We spend all the money in the world to carry contigents to several countries to beg them to bring in their funds and invest here. Then we chase those who accept to come. Do we think these nations are stupid? Can you count how many serious investors have fled in the last 20 years? ShopRite has sold out. We once flew Virgin Nigeria! They didnt stay here for 10 years and they vowed never to come back. Where is GSK? Where is Unilever? We just want to run a 'satchet economy' here. Sad. Chase them away and be wonering who will employ your citizens.

Advise the man to find a true Bible believing church. He needs to get saved. he needs to learn from God's word. He needs prayers. What he may not realize is this - If this story is true (and not fiction) the lady may have others plans apart from relocating. The man should not take the other threats from the lady lightly.

The only one with a relevant profile.

Most of the others are UBA bankers.... that says a lot!

wrongnumber:
Redenomination is the best way out

Redenomination is the reduction in the par value of a currency by a factor of ten, hundred or a thousand.

That is, the worth of goods with which an individual can consume with a thousand Naira would automatically be consumed with a Naira or 10 naira depending on the redenominated value.

It is not a permanent fix but a good way to reboot the economy.

The government will now need to implement good policies that when combined with redomination will bring about a lasting solution

Ghana did that a few years ago. It has not helped them in the long term. This government must fight systemic corruption if they must suceed. There is nothing yet to show they are ready for that. They seem to be too busy doing 'beta' things.

ufotunang:
I said it there is nothing the CBN governor can do..
The solution is nigeria to be a producing economy ...more exportation of goods and less Importation of goods and for nigerians to value, buy, patronize what they have in their country.,all this traveling to abroad to school in foreign universities, travel for medical treatment abroad , buying foreign cars are the cause of all these dollars rising everyday and naira losing value..,we have to value, patronize what we have in this country..not everytime... foreign things, foreign universities, foreign hospitals...the solution is the country earning high in dollars and less demand for dollars

You have a point but you need to check out Cuba abd North Korea. It is this kind of reasoning that killed their economies and threw their people to hunger. Nigeria is exporting a lot. We can and should export more. Our earnings from crude oil (and now from refined oil) surpasses the genuine demand for forex. The problem is with the crude oil. There is no accountability and no transparency. The dollars we ought to have to keep a healthy economy may be hidden in toilets and latrines around the country.

They dont have an answer to it because they are probaly the problem!

gard9ner:
Does anyone care if the accusation is even true? Also, where does this lady come from and what is her state of mind, I personally don’t like Redeem church not that I hate them too, but my point is that we must investigate facts and ask questions before judging.
The church should carry out a thorough investigation, this is real bad market for Christian in general.

I wonder. It may be true and it may not. They need to investigate the matter before people start to jump into conclusion. This world is evil. Who recorded it? The lady wasnt acting alone.

SoNature:
Herbert Wigwe was a funny man. He wanted those who would attend the so-called university to pay in USD. After paying all that money to attend a university in Nigeria, won't they end up joining the rest of us in the labour market?

Universities in the US, UK and Canada charge a lot of money in tuition and their people borrow money to attend those universities for one reason - their governments have invested so much in their societies to have profitable ventures that will absorb those graduates. That way, they can pay off their student loans in a few years. Nigerians need to understand that you cannot give what you don't have.

Foreigners attending the university will have to pay in USD. There is nothing strange in that, He propbably wanted to attract people from all over Africa and beyond.

When did they interview him?

Speculators and JUNK journalists just spewing out rubbish. The man most likely still mourning and not talking about the incident.

The most likely thing is the other news that was reported that the PA was asked to go by road so he can handle their luggage. That is what PAs do anyway, make sure the boss travels without encumberances.

Why is Tinubu the one to provide food for them? Why not the Governor?

Bandit economy!

We need international trade bros. Some people wil have to buy our oil and other produce. Go and check out Cuba, they are the ones who shut their borders and became so poor as a country. Same with North Korea. Open borders are far better, you just need to ensure you export more and earn better forex.

HajiMT:
The government needs to arrest this situation before it degenerates to a full-blown crisis.

What crisis? You forgot how they quenched the endsars protests with maximum force! Do they care about the naira?

SoNature:
Instead of journalists making efforts to improve investigative journalism and setting the agenda for this clueless government destroying the economy of Nigeria, they are busy estimating the net worth of HNIs as though they were their account officers.

Terrible nonsensical guestimates. The height of JUNK journalism.

Economies are better managed by Economists. It can be a disaster when you ask an accountant to handle that job!

Save trillions? And make the people suffer the more? What are you saving for? You are circulating poverty and suffering and yet boasting about making savings? Naira has depreciated over 100% in less than a year and here we are singing praises of ourselves!

UrPapa:
At least fuel go drop to #100 per litter now

It may be the opposite. Crude for that refinery was imported. PMS price may be raised to N900 or more per litre to allow this refinery to make some profits. Otherwise, Dangote will export its products, which is not bad. It will boost Nigeria's dollar earnings a bit.

grandstar:
This should push Mr.Ogunlesi into the billionaire ranks.

Are you kidding? He must have been a billionaire for some time.

They changed from NNPC tp NNPCL! They said Nigerian citizens now have shares in the new company.

I am waiting for the dividends please!