₦airaland Forum

Please, Nairaland moderators should not take this to the frontpage,we should stop making foolish people like Kora Obidii to be famous.

How many times would this news be on the homepage? Nairaland is definitely been abused by government online propaganda agents.

Donaldoni:
Piiiggs rest!
It will hover around 1,100 for sometime until a new development begins to take full effect - local production of petroleum products.
Then it will appreciate considerably again.

who told you this and on what basis? You're just a government online influencer lying as usual. Even the CBN governor can't make that claim in public.

garykoeman:
Official rate is higher than parallel market.

Can u explain how naira is being defended.

didn't you read where it said that the cbn is selling dollars to bureau de changes at indexed prices? I guess you don't even know that bureau de changes are the parallel markets and indexed prices means the prices are fixed artificially by the cbn.

All these confusion and pains would have been avoided if Tinubu had not prematurely floated the naira without thinking of the consequences, now they're wasting billions of dollars to defend the same naira from falling to its true value. A case of acting before thinking.

They were established since 2006 and they have consistently failed to stop the Niger Delta militants from blowing up oil facilities when provoked,why do we celebrate failures and mediocres in Nigeria?

How much did government spend to set up this website?

Naira20:
Most Nigerians don't even know she exists.
She's trying hard to be in the news.

One would think she'd be of great help to her husband who seems to be confused.
Anyways, it's all about always throwing money around...no creativity.

her husband handlers are using her to challenge Peter Obi 's philanthropy especially in the north.

Throwing borrowed money around doesn't achieve economic growth as we can see from the failed government of Buhari so why is Tinubu going back to all the failed policies of Buhari? This country is just living on borrowed time as economic clash is inevitable with all these poor policies. Nairaland moderators should do something about all these APC online miscreants that are crowding out frontpages with abusive and gaslighting posts in co-ordinated attacks.

APGA should get a professional public relations team, this so called online warriors are bumbling amateurs. If an election is to be held tomorrow, Ozigbo would win without breaking a sweat, Soludo destroyed his reputation by his poor performance, talkativeness and quarrelsomeness. He lacks the qualities of a good leader.

Confronting someone in her family house is plain stupidity, she should have confronted her husband instead.

This type of thread is what should be on the frontpage not Bobrisky and James Brown threads making stupid people famous for nothing.

I found it interesting that the state police commissioner, state police spokesman and all the relevant police officers interviewed in the original report were all Yoruba by tribe, the agitators supreme female leader that made video announcement declaring Odua republic is still walking around free. The Yorubas are just playing politics but it's best they come out plainly rather than this cowardly hide and seek game.

Looks a mere friendly photograph.

If this was in the east,Yorubas and APC online miscreants would have filled the page with tribalistic comments.

In Nigeria, the quantity of money in your pocket determines the quality of girl you end up with, ignore at your own peril, it's a shame that our society have gone totally materialistic but poverty and greed are to blame.

Honestly, this is a luxury home without engaging in unnecessary wastefulness, I would have loved a tour in camera.

evictor305:
Honestly the conversation cost is discouraging, Almost 1 million for conversation o

I knew all these talks about CNG from politicians are misleading, none of them are still talking about it now, Nigeria needs working refineries to lower the cost of petrol not CNG.

How much is a CNG conversion kit for cars? Is it readily available? Are local mechanics familiar with the conversion procedure? Time would tell but it's still a good idea.

Please,I hope this isn't true because I wouldn't tolerate it.

In Nigeria, the more you look, the less you see. If most Yorubas are really interested in breaking away from this country,now is their opportunity, playing cowardly hide and seek will not help them.

kalvoken:
If she's not given birth, not bleached her skin to sickness, no piercing of nose, not more than one ear hole. Mentally up to per, nothing else matters.

Virgin or not, once she done born, they will all become same.

is that not a tattoo that I'm seeing on her stomach, check the dressing sef?

In a sane society, Buhari and Tinubu should be in prison, support certificate forgers? Taa!

Government paid influencers have already started crowding up the thread to sing president Tinubu's praises over nothing. What good is all these announcements that are not translating into improved welfare for Nigerians.

Hoelujohn:
Dey play! I supported P O more than you in last election but anything that will make the naira strong, I support even though I will still vote for PO in next election if he contest because i see him as a lesser thief.

the CBN would eventually run out of dollars to defend the naira then what happens? PO solution is to increase the productivity of the Nigerian economy thereby reducing our demand for dollars to buy foreign goods among other practical measures. The current government can't solve this problem with this lazy approach that failed Buhari and with time,it would surely become more difficult to fix.

Nigeria is a crime scene.

Hoelujohn:
Una go cry die.

get a life bro, next time, you learn that elections have consequences.

The CBN governor have returned to the same Emefiele's policies that he criticized him for.

Foreign-exchange reserves is money or other assets held by a central bank or other monetary authority so that it can pay if need be its liabilities, such as the currency issued by the central bank, as well as the various bank reserves deposited with the central bank by the government and other financial institutions, As of April 4, 2024, the FX reserves stood at $33.43 billion, down from $34.45 billion on March 18, 2024, according to the latest data from the CBN.

Nigeria’s foreign exchange reserve plummeted to its lowest level since February 20, 2024, when it was $33.42 billion. This marks a decisive end to a period of steady accrual, during which the reserve witnessed a 43-day surge, accruing $1.28 billion between February 5 and March 18, 2024. The CBN earlier attributed the rise to increased remittance payments from Nigerians abroad and heightened interest from foreign investors in local assets, including government debt securities. The apex bank also noted that the increase was due to reforms in the foreign exchange market and an increase in oil production amongst others.

The downward trend reflects a significant drawdown in the reserves, which have been depleting since March 18, when they peaked at $34.45 billion. The reserves dropped to $34.39 billion on March 19 and continued to fall steadily, hitting $33.57 billion by April 2, and further sliding to $33.43 billion by April 4. This marks a decline of $1.02 billion within 18 days, indicating the pressure on the reserves amid ongoing efforts to stabilize the local currency.

CBN’s FX Interventions
The CBN has been actively intervening in the foreign exchange market to shore up the naira, which has been under pressure from various economic factors. This intervention often involves the sale of dollars to ensure sufficient liquidity in the market, an action that has likely led to a decrease in FX reserves.

Within the 18-day period under review, the CBN announced the complete clearance of the valid foreign exchange backlog and the sale of $10,000 foreign exchange to each Bureau De Change operator (BDC) in Nigeria at a rate of N1,251/$1.

What You Should Know
The depletion of FX reserves is a cause for concern as it reflects the state of the country’s balance of payments and its ability to meet international obligations. A significant decline in the reserves can affect investor confidence and may lead to a credit rating downgrade, which can further impact the nation’s borrowing costs.

Nigeria faces multiple economic challenges, including theft and losses in the oil and gas sector, which have traditionally been a significant source of FX for the country. The decrease in reserves may also limit the CBN’s ability to intervene in the currency market, potentially leading to further depreciation of the naira.

The International Monetary Fund (IMF) recently projected that Nigeria’s foreign reserve is expected to see a significant reduction, falling to $24 billion in 2024. The IMF anticipates a challenging period through 2024–25 for Nigeria’s financial account, exacerbated by an absence of new Eurobond issuances, significant repayments of existing funds and Eurobonds totalling $3.5 billion, and continued portfolio outflows. However, it projected a hopeful recovery to $38 billion by 2028 as portfolio inflows are forecasted to increase.

Policymakers may need to balance immediate currency stabilisation efforts with long-term economic strategies to ensure the health and stability of Nigeria’s financial position on the global stage.

Source: https://nairametrics.com/2024/04/07/nigerias-fx-reserve-dips-by-1-02-billion-in-18-days-on-cbns-naira-defence/[sub][/sub]

jamesversion:
Yeah, comment from a girl living in Benin City.

lol,why are you this wicked?

everythingtall3:
I have never for once slept with a prostitute but I use to feel the same way until i saw one prostitute in allen , even though i didn't sleep with her but she tick all my boxes in appearance and I swear if you leave me and that girl alone , i would do her unconsciously

lol, I have been with such women but as either girlfriends or friends with benefits even though we both knows what she does. Believe me,I once had a student on tp working under me, she didn't hide been a runs girl from me (most of them are usually runs girls) but was really in love with me while I kept running for my life, she was everything I wanted in a girl except the runs part, she later got married about a year after her tp and I regretted not been the one that married her when I realized that most Nigerian men would eventually end up marrying coded runs girls unknowingly. Baba, just hold money and packaging, you would see the real akwuna nature of 99% of Nigerian girls, na girls go de chyke you for campus instead of you chyking them.

pretydiva:
Sir, there are still decent Nigerian girls in Nigeria

yes but very few and very difficult to get, I was in the bus yesterday with female students going for a traditional wedding of their colleague to a yahoo boy, They were even not ashamed of their purpose to the wedding is to hunt for yahoo boys, I was at another function that same yesterday ( a big funeral) see as some babes were flashing flesh. Our society is becoming a cash and carry society giving rise to baby mamas and broken families because every girl wants to own an iphone and men are willing to pay the price to satisfy their lust and misplaced desires, it pains me.