₦airaland Forum

jchioma:
The costs will be transferred to the final consumers. That's how it works.

Expect the price of rice to rise astronomically this Christmas season.

Make we all chop local rice end of story if U bite stone you bite stone

Islie:
.........Self-sufficiency in rice production not realistic in 2022



https://www.newtelegraphng.com/rice-thai-merchants-slam-300m-rates-on-nigerian-importers/

So we import rice right

my agent just pinged me now the £££ has just gone up as at today Monday 18th £= N784, last week it was 780 and yah lot are here blaming AbokiFx and the £ to $ i. £=$1.37. this means if I have $137 I will get N78,400.
What this also means is that $100= £72.81
So realistically todays dollar rate for Diaspora remittance is $1=570+/_.SO for you to buy it must by at least +N10

alizma:
When you guys are cut up in a circle, you start talking out of point. Can you face the issue on ground and stop running Helter Skelter. The point of argument is on abokifx activities on the black market and the question is whether the CBN decision to stop abokifx have positive impact or not.

Ofcos I did not xpect to get any logical reply from you so don't worry im not disappointed ,Classic example of talking about what you know next to nothing about.
FYI Aboki fx does not in anyway affect FG and CBN rates rather its the ordinary man on the street, sellers and buyers of forex. And from the way you are talking hands on chest you do not belong to any of them group!

Blessings001:
Good day all.

Please can you continue to live in Uk even when your visa has expired?

Or will one be deported?

No you will get citizenship.
What a question

Ashirioluwa:
Anyone knows if fully vaccinated traveler needs Covid test to transit through Istanbul (Turkey) to BHX (Birmingham Uk)

I dont think so

alizma:
Before abokifx was stopped, it was so bad that we were changing prices of goods 2times a day in response to the increasing changing posted by that platform. You guys don't know what was happening. In just one week we we recorded about 50naira increase but ever since abokifx was stopped, the dollar rate has been steady in the black market. Go and ask those people trading in the black market and they will confirm this to you.
The questions you guys are not asking is what would have be the date of the naira by now if that trend was allowed to continue till now. That means we would have been talking about 1000 to a dollar by now.

Let me stop you there, you and you guys are the one who do not know what is happening cos you are at the receiving end of the forex regime you don't send.
2nd the £ is a classic example as its not talked about in Nigeria so the £ and Euro are not used as much as the $.B4 now the highest the £ has ever been was N600 during the election time PMB v GEJ era.I do not need to ask anyone trading in black market cos WE ARE BLACK market, the remitting population of Nigeria who live abroad send money daily Fg and major corporation do not. With this new policy of CBN making BdC to physically ship $$$ to 9ja did you not for once think the cost will go up? there is security fee, transport fee and Insurance fee to move $$$.Who do you think will bear this cost?

[quote author= post=106834267]Main reason Igbos will continue to dominate in transportation sector both air and land[/quote]Bros igbo Airport nor dey top 3 ohh I be I need spec savers??

Islie:
https://tribuneonlineng.com/fuel-subsidy-hits-n816bn-in-seven-months/

Shhhhhhhhh They removed the subsidy abi nor be so dem talk that year

alizma:
Do you know the difference between official and black market rate, which of the two did CBN accused abokifx of I'll practice on? if yes, what was the rate when abokifx was stopped and what is the current rate?
Though a little, the rate has since dropped from what it was when abokifx was stopped and I don't know what you are blabbing about. I also tell you that prices of goods that have direct link with the dollar has reduced since. CBN decision on abokifx has yield result positively. Is only people like you who don't know what the subject of discussion is that are busy jumping around talking nonsense. Go and read the link you personally referred me to, one of the link clearly stated that naira has recovered a little on the market where abokifx carried out it's activities.

Dropped are we talking Sending rate to 9ja or CBN rate?

alizma:
Thanks very much.
I work in a firm who's products prices are affected by the dollar rate and as such, I have been following abokifx for about 4years now. when you tell people who don't know much about the rate that abokifx in recent time, either consciously or unconsciously took advantage of the confidence of the people to publish rates that encourage steady rise of the dollar at the black market, they start to attack you. Take for example, last year when abokifx published rate, it will be very difficult for you to get to the black market and get something less than that but just before it was stopped, the rate abokifx was publishing was like setting the pace for the aboki on the street in the sense that abokifx could publish 570 and you still get dollars at 565 on the street. That was wrong.

Question. At what point would you agree that AbokiFX ban has no single effect to the nation forex regime? when £ and $ goes above 600 and 800 respectively? cos it is looking that way

Abudu2000:
they were receiving bribes from fx traders to inflate rates. That's what's up

so todays rate to send £££ to Nigeria is btw N780 and N782, who is now receiving and giving bribes.
Most of you guys have not even own £££ or $$$ in years and you do not understand the dynamics of which these trades go and you come up with mind made up with her say.it is this gullibility the Elites play on the govern you lot!

Nukilia:
May your days be long. Criminals hiding in UK and sabotaging Nigeria's economy must be tried for treason and locked up for a long time so as to serve as deterrent to others. I love your simple analysis!

Xtreamly ignorant and lack of understanding on your part to put up such post. If he was hiding why did he stop posting daily rates? and FYI there are thousands of other sites that are posting rates, Most of them are posting less than N600 for the ££££, is that the true reflection? I just wired ££ to my bank at rate of N782, does that not tell you the AbokiFX harassment was pure speculative as in the context as they may say??

egoldman:
That someone living in the UK collects info from the black market and official market, then publish all this information on his website is the reason for the largest economy in Africa to be having scarcity of dollars is senseless, you get it now? This is your idea of meaningful and logical discussion?Mbanu I rather discuss with kids.

Don't even bother with that guy, he has no clue, however the worrying factor is the Minister of finance and CBN govt belong to that school of thought!

namo77:
Abokifx does not manufacture the rates posted... They get the rates from banks and bdcs....

Thank you very much !this is the truth of the matter

AntiWailer:
Nobody expected Naira to rise just by shutting AbokiFX down. If you believed that, you are either ignorant, mischievous or just a victim of picking common thoughts on the street.

For Naira to rise, we need to manufacture and export. Reduce imports drastically and reduce our reliance on dollars then the basic Economics of Demand and Supply will kick in on the price.

The problem AbokiFX bring is speculation issues. it is one of the problems and others would be tackled accordingly. There are about 7 other reasons to be tackled.
1. Inflation rate.
2. Interest rate.
3. trade balance.
4. Government debt
5. Terms of trade
6. Political and stability of performance.
7. Recession
8. Speculations.

If you observe the list closely you will discover that the Govt's failure is responsible for majority of them and that is why there is no hope anytime soon. The decision which is a right decision no doubt, at best took care of only item 8. the 7 other monsters must be dealt with.

Many people asked several questions around where AbokiFX get their data from. There was no sensible answer.

Also a lot of people rely on AbokiFX to make decisions on how much they will buy or sell their dollars so let us take an example.

If AbokiFX continues operations and all of a sudden post #750 to 1 dollar (recall we don't have any logic behind the price they post), thousands of people who use AbokiFX to av an idea of how much they will sell will definitely not sell at 450 right ?

Even if people say they are mad, they will not sell cos they believed if AbokiFX says 750, it is likely close. The refusal to sell automatically impacts supply while the demand for dollars keep going up, price will definitely rise at a rate not steady.


Please note that this is highly intellectual. I will try and reply every mention.

If u don't understand, I can forgive you but if your response is only insult because it is too much for your capacity to think, i can also forgive you but will likely ignore you.

I agree it is not every time posts would be interesting like Squid Game or Tonto Dike vs Kpopo.

AboliFX stated clearly the mechanism by which its price is determined, If you go back and read their submission. Besides ABokiFx just dnt do Nigeria, they cover loads of other currency. And I also I can categorically tell you I have always posted money to Nigeria from the Uk above abokiFX rates,

kushe:
Did you hear that razz is the new cool?
Even people who schooled abroad with imported accents have to acquire a bit of street lingo to prove their street cred.

That's for boys, men do different

Klass99:
What your Ghanaian friend did is something I wish I had known earlier or younger me had done sooner (i.e. the aggressive saving then investing, towards an early retirement) Too bad I don't earn in foreign currency like him, the naira go slow runs for me.

What the oyinbo man did, is a realization I came to last year when Covid happened and we were in lockdown. I realized (Klass) you can retire early and not continue this rat race, I realized this work and quench mentality or work till retirement age, doesn't have to be your story or reality.

I agree with you, anyone going abroad should have an entry and exit plan plus stick to it.it is easy to save if you ate disciplined.

AlphaLion:
My people, don’t allow some persons deceive you. The west is a complete capitalist society and it even reflects in senior care.
What this person failed to mention is the number of homeless old people littered everywhere in the abroad that government has ignored.
Even the old people’s homes are of different grades. You will only be taken care of according to how your pocket can provide for you. If your money no reach, you are on your own. And you know it’s not hard to be homeless in the west.

If you want to spend your last days in an old people’s home, start saving money now so you can afford a home with excellent care. Or else…

Did you really believe what you just wrote up there?

Hajivince:
Hello Everyone... Sorry for the Late updates... We have been trying to serve quality deliverables to our esteemed Clients

That pipe sticking out I'm sure that's not alright ??

[quote author= post=106669109]These are the longest Airport runways in Nigeria.[/quote]Yet the Only utilized Airport for planes coming from Europe and America are Lagos,Abuja and Port Harcourt Int

Swears the say the guy is on a run
For which for no reason
He broke up so what
The police Don't have the right in anyway to arrest him
Assin how would the arrest warrant even look like

This is Nigeria police we talking about

vchinedu01:
See previous thread https://www.nairaland.com/6797325/olivia-james-polytechnic-unwana-student

Following up Olivia James story this picture over here is said to be the Henry guy
That Olivia fell in love with and out of depression of a failed relationship took sniper
To get rid of the situation she was facing

If I was the guy I will sue this person who made that post calling him the cause!¬

Homeboiy:
Legalize gun

way to go, U nor fit enter my house 4 night cos U nor know wetin I carry

DOTian:
But all these conference centers, new state houses at the state capital and Abuja and countless Prado jeeps.. how many jobs do they create after gulping billions? Imagine where the billions are invested in say joint ventures like Peter Obi did with Hero Beer and co. Look at the millions Anambra makes from those. These are luxurious that struggling states shouldn't crave to have at the moment..

But there are people going to work there, Business would take place, it has restaurants and banking halls plus loads of offices. There ie revenues from the halls being used. When ever people gather there is money to be made and paid!

Pataricatering:
men are the main cause of societal promiscuity . Men and their uncontrollable penchant for sex . So pls shut the fvck up with the nonsense ur yarning .

2021?

PrimadonnaO:
And the people who take the biblical law seriously enough are virgins.

you will be told its old testament as if its not part of the bible

needhelp909:
My younger who is age 20 has been battling with a sickness for over a year now.
His body is swelling up.
Eyes, neck, legs and stomach. They all appear puffed.
We have done all kinds of test and treatment, nobody has been able to diagnose the nature of the sickness.
There is no pain whatsoever, just swellings especially after a nap.
Also he sleeps more than usual.
There was a period it went down for like 3 months.
But now we are back to it again.
He is having difficulty in breathing because of the throat swellings
I will be attaching some of the drugs he is using.
And will be available to answer questions.

Pls ignore the typos here.

One simple question, HAS HE BEEN DIAGNOSED??
SO OP YOU IGNORED MY QUESTION, you are doing cut and paste with your brother's life right??

mrcoolautofix:
Omg did you just say that?

what else is there to say

spyder880:
House painting starts, we're starting with the ceilings

whats up with Pic 1, is that screeding and a design?