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ELgordo's Posts

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Fashion / Re: Realistic Buttpad Debuts In The Nigerian Market At N320,000 by ELgordo(m): 7:46pm On Dec 07
Ewww I like the real thing joor

3 Likes 1 Share

Celebrities / Re: Portable Caught On Camera Beating His Studio Manager (Video) by ELgordo(m): 12:19pm On Nov 18
Werey

1 Like

Religion / Re: Warning! The Trumpet Is Fixing To Sound. JESUS Is Coming! by ELgordo(m): 11:19am On Nov 13
Many people are Mocking but when it happens una eye go clear many of those Mocking will be the ones to receive the mark of the beast

1 Like

Crime / Re: Video Of Hushpuppi On A Call With A Friend Hours After Sentencing by ELgordo(m): 10:01am On Nov 09
Mr buy me stars.....over to you
Crime / Re: Video Of Hushpuppi On A Call With A Friend Hours After Sentencing by ELgordo(m): 10:00am On Nov 09
Daddy freeze over to you.......

1 Like 1 Share

Crime / Re: US Court To Sentence Hushpuppi Monday, November 7 by ELgordo(m): 8:43am On Nov 05
I thought they already did No be 11 years?
Business / Re: Aloy Chife Asks CBN To Abolish Official FOREX Market, Allow Naira Float by ELgordo(m): 8:37am On Nov 04
Well said my brother....well said love the analogy impeessive .... but most of the block heads wont understand......they will keep stacking the notes until everythingwillbcrash
Emeskhalifa:
THE CURRENCY SITUATION: A MUST READ

1). So many Nigerians have stacked Naira notes in their closets and are cut up with this policy of the CBN. There is a rush by ignorant Nigerians to convert their Naira to Dollars. Naira is at all time low against dollar and it's going to go even lower. For example a man converts #10m to 12,500 USD at the current exchange rate. It's easier to keep it with himself than to deposit in a Domiciliary account with a DMB because of the stringent policies around FX cash deposits. He hopes that by December when the new Nigeria is floated, he'd have his FX converted back to Naira from the Aboki guys he bought his USD from.

2)The Aboki man who sold FX to his customers at exorbitant rate excitedly goes to the DMB to deposit the millions of Naira he got the the FX swap he did. He knows he is getting richer in geometric proportion by this new policy by the CBN. He awaits the printing of the new Naira notes so as to reconvert the Naira he has in his account today USD and continue making more money.

3). All customers who deposited their Naira notes, those depositing and those who would be depositing are eagerly waiting for December 15. The DMBs are also waiting for the said date. Meanwhile there is a cashless policy waiting to hit all Nigerians by January 2023. On December 15th, customers would rush to the DMBs for new notes so as to withdraw as much as they can before January when the cashless policy would be effected 100%. The DMBS would rush to the central bank branches to withdraw new notes. The branches would go to the H/O for new notes. H/O would release just a little to branches based on cash management policies. CBN Branches would release in trinkets to DMB branches and tell them to go manage their customers. DMBs would revert back to their customers based on the low available new cash notes. There would be slight panicking as customers who deposited old naira notes cannot retrieve same notes from the DMBs anymore because of unavailability. Remember, digital money and paper money is still money and so customers would be advised to use electronic channels to make payments.

4) The Aboki guy who kept millions of Naira is also a victim of the shortage of new notes and so he cannot buy back FX from his customers who were hoping to return the ones the got earlier ones the new notes are in place. Aboki begins to panick as well. Those who have FX and need naira notes begin to sell their FX to people who have naira whether old or new just to cash in before January. In doing so, USD begins to crash as rapidly as it rose. Much of the FX becomes deposited in DMBs as carrying the raw cash isn't useful anymore. The CBN is happy because there is more FX in the banking system to give for Forms A, M and Q. Naira begins to gain rapidly against the dollar.

5). In January, cashless policy takes effect. So even if the CBN makes available more new notes to DMBs, customers cannot withdraw above the stipulated across-the-counter limit to avoid heavy charges. Customers are forced to use electronic payments, FX policy and transfer and withdrawal is so stiff that swapping FX and Naira is no more a gain. USD parallel and black market prices crash all the way down to CBN rate. Inflation based on importation of goods and services is checked as Naira becomes strong against dollar. People who have physical dollars would lose. There would be limited access to naira notes as electronic transfers become prevalent. Enaira purchases also become more as Nigerians look for most seamless methods to do payments. By June, whoever takes over power would have a soft landing as this policy by the CBN has controlled a whole lot of inflation, corruption and economic degradation.

6). If you have Naira notes stashed with you, return them back to the bank through your account. Don't try to play smart trying to beat the system, you may become the architect of your own loss. Your 12,500 USD may fall from #10,000,000 to #5,000,000 in June, 2023. Meanwhile if you put same #10,000,000 in Treasury Bills at the current 14.5%, you should be gaining about #725,000 at the same period.

Let's try and look at the bright side of things, Nigeria shall be great by God's grace.

1 Like

Celebrities / Re: Davido Shocked To See Daddy Freeze Hanging Out With Pastor Tobi by ELgordo(m): 11:35am On Sep 07
Facebook people buy me Stars!!!!!! That's all I hear.... smh ! Ovoko
Events / Re: Moment A Groom Rebuked A Photographer For Getting Too Comfortable With His Bride by ELgordo(m): 9:03pm On Sep 03
Ovoko tapping current....lol
Politics / Re: "Tinubu Passed His Exams From Home" - Keyamo Defends Tinubu's Education (video) by ELgordo(m): 9:06am On Aug 13
Font page
Politics / Re: No Bomb Explosion In Kogi Office, It Was A Plastic Bottle & Insecticide (Photos) by ELgordo(m): 6:53pm On Jul 26
[qlolzuote author=NwaNimo1 post=115110556]Unknown Bomb Blast.......



..reported by an Unknown blogger![/quote]
Phones / Re: NIN Link: Airtel Camera Couldn't Capture My Face Because Of My Eye - Man Cries by ELgordo(m): 6:18pm On Jul 24
Ovoko

1 Like

Career / Re: "Smile Or Be Suspended": Phillipine Mayor Tells Government Employees by ELgordo(m): 5:37pm On Jul 14
Ovok0 front page

1 Like

Politics / Re: Mohammed Bello: Arrest VIPs Seeking Bail For Criminals by ELgordo(m): 5:14am On Jun 03
Front page!!!
Music/Radio / Re: Recent Photos Of ABBA And Their Avatars by ELgordo(m): 1:21pm On May 31
Mama MIa!!!

32 Likes 2 Shares

Music/Radio / Re: Recent Photos Of ABBA And Their Avatars by ELgordo(m): 1:21pm On May 31
Front page OVOKO!!!

3 Likes

Crime / Re: Okada Riders & Traders Clash In Abuja. Pregnant Woman Killed, Properties Burnt by ELgordo(m): 1:36am On May 19
Lord are things really this bad Hmmmm! God save our nation ....cause it's about to collapse.....scatter....scatter.....tear in to pieces pieces.....mtewwwswwww!!
Health / Re: External Hordeleum (Chalazion): Do You Know Anything This Please? (Photo) by ELgordo(m): 1:25pm On Mar 15
I had the same thing since 2002 until I did surgery in 2008 to remove it at UBTH benin after using so many drugs since then I have been fine mine used to bring out puss it is caused when you remove the hair outta your eye lash and infection sets In.... my dear do the surgery i had to deal with mine for 5years straight.....peace

4 Likes

Politics / Re: Lagos State Government Suspends NURTW From Parks by ELgordo(m): 5:08am On Mar 11
At last!!! Ovoko
Crime / Re: South African Mob Kills Nigerian Man In His Shop by ELgordo(m): 1:23pm On Feb 18
Ovoko.... that's how they killed my guy sule who had been living in s.a since 2014.... am glad we talked b4 he too got murdered it's a damn shame .... Nigerians flee the land joor e no pure....

5 Likes

Education / Re: Nigerian Student Hid Food Under Table To Eat While Lecture Was Ongoing by ELgordo(m): 2:55pm On Feb 07
So this is news Ovoko!

12 Likes 1 Share

Celebrities / Re: Rosy Meurer Chilling With Husband, Churchill And Son by ELgordo(m): 10:45pm On Jan 04
Hmmmmmm ....some pipu bodi go dey pepper dem ....no be lie.... ovoko!!!
Food / Re: The Fufu I Ate Today Got Me Smiling - Photos by ELgordo(m): 10:42pm On Jan 04
Ovoko! Happy new year my guuuyyyyyyy! Ovoko! Keep shinning.....
Politics / Re: Lagos To Enforce Safety Compliance In Hotels by ELgordo(m): 5:56am On Dec 18, 2021
Collect some rounds.....una dey sleep
Politics / Re: Lagos To Enforce Safety Compliance In Hotels by ELgordo(m): 5:55am On Dec 18, 2021
Okpoo
Religion / Re: Pope Francis: Sexual Sins Is Not Most Serious Sin by ELgordo(m): 5:08pm On Dec 09, 2021
End time Pope.....could he be the false prophet??
Education / Re: Police Seal Off Dowen College (Pictures) by ELgordo(m): 4:21pm On Dec 05, 2021
Gimme them 20naira them go allow you pass...

1 Like

Foreign Affairs / Re: Russia Drills 700 Snipers Near Ukraine Border As Putin Warns NATO (Pix,video) by ELgordo(m): 8:47pm On Dec 03, 2021
Fr33born:


Leave him...he is doing God's work and he is right
You don't preach about Jesus, repentance and God's love by instilling fear into people. Wars did't start today.
I can bet my left butto that no single person on this forum wld be converted by reading your war and disaster stories.
Continue deceiving yourself.
Crime / Re: With N500, You Can Obtain Birth Certificate For A Non-existent Nigerian Child by ELgordo(m): 10:49am On Nov 23, 2021
Lolz��
Sports / Re: De Gea Criticizes Man Utd Players After 4 - 1 Defeat To Watford by ELgordo(m): 5:22am On Nov 21, 2021
Ovoko! Mumu man u.....mtewwwswwww
Celebrities / Re: Davido To Donate ₦250 Million To Orphanages Across Nigeria by ELgordo(m): 2:13pm On Nov 20, 2021
Good

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