Ebubu2:

They unified it and then started defending it.

After a while the borrowed dollar they use to defend it will finish and then there will be an increase again in price of dollar say to 1,500-1,700

What do you think sir ?

No, its going to 4500

iykepromotions:
But how long will this last. Not sure if it's a lasting solution. Nigeria need to export more. Thars all

Which yeye export? Exporters that dont remit dollars back to bank or cb

clarocuzioo:
Dollar going down is a welcomed development. Its just unfortunate the CBN is using our foreign reserve to defend the Naira.

We are depleting our foreign reserves.

Tinubu simply returned to Emefiele's policies they criticized.

What's the use of the foreign reserve? What they will use for rubbish empowerment programme

RealTrump:
The amount used to subsidize naira for just 6 weeks (over N3trillion), they can use to subsidize electricity for one full year.

The fear of BAND A

Clever by half. What about the money they realize zed from the sales of the dollars or they just gave it out for free?

Segzy19:
This is not the first time LP would produce a governor. I'm sure you don't know that....
Olusegun Mimiko won Ondo governorship under LP .... A lot of you guys just got to know LP during the last election

Dey play! An uncle of mine was Iroko's Special Adviser back then.

Igb0sCriminals:
Hehehe

NLC should kukuma turn to political party.

If Obi leaves Labour Party, where next is he taking his badluck to?

N100 airtime for anybody who will predict this correctly.

He took his badluck to LP and they won governorship seat, senators , HORs and State assembly seats. The badluck also dismantled Tinubu rigging machine in Lagos during presidential election.
You truly need mental rehabilitation

MaziObinnaokija:
u snap yo married sis breast and post it here u can't even cover the nips

Oya dey drink am.

They are joking if it's the same obasanjo farms that is in Ota where I live. They have the best power supply in Ogun state if not even in Nigeria. I am sure they have nothing less than 23.5 hours per day.

Villa12:
your aunt donn't want you to be begging her for money. Abroad remittance dey do wonders for naija

If she is giving me 5k everyday for 20 years she would have only given me 36,500,000 leaving her with a balance of 1.965 billion

Zealoy:
I go accept the UK passport, my kid bro hustled and paid d £25k pounds tuition fees morethan #50M naira in less than 2yrs as a student with 20hrs weekly working time, imagine working full time with my UK passport i can make that #100M in less than a year in d UK

So in ten years, you would have made a billion naira? My aunty that has been there for over 20 years said she doesn't have flight money for now.

Morbeta11:
Then allow police to do their job.....you cannot be the judge and jury in your own case.

Police sef no go fit collect the case. Place wey dem deny governor access, you say make police take over. Dey play

successmatters:
Fubara power!

With the state machinery behind you, take no prisoners, crush anything he throws at you and write your name among the greats of Rivers state. Arrest all his men, lock them up in cells and scatter all his associates, the people are with you, work for us with government money instead of giving one useless godfather.

Face this man, he is all mouth and no action, just a paper tiger. Foreign Ogogoro don finish him life sef

The man mumu jare. You wey be governor wey het absolute power. First revoke all him C of O

SalamRushdie:
Nigeria is a useless enclave, the military is the one supposed to Handover suspects to the police but here it's the police handing over suspect to the military

Police no go wan buy market na

TOPCRUISE:
He is wise not to surrender to Soldiers or the DHQ defence headquarters, but the nearest police command.
He would have been reported missing.

Dey play. Police will hand him over if not dem go buy market from army. It's not their investigation.

gidgiddy:
I have known Peter Obi a long time, his village is just a stonethrow from mine. As a successful international businessman and billionaire, he returned from the UK in 2002 to aspire to be Governor of Anambra, which he did after a lengthy legal battle. Its not everything Obi did as Governor of Anambra that I'm happy with, but most Anambrarians will tell you he left the State much better than he met it. As 2027 approaches, no doubt Peter Obi will be under pressure to run again for President. If I were him, I won't run, for three reasons

1. 2027 has already been rigged. Let Obi learn from not just the last Presidential elections he ran in, but from subsequent elections in Imo, Kogi and Bayelsa, where elections were rigged with impunity. The by-elections were even worse. The 2027 elections will be brazenly rigged, and Peter Obi will be told to "go to court". Obi should also remember that he will be running against an incumbent who believes in "grabbing power and running with", and has state resources at his disposal. So Peter Obi should spare himself the trouble over elections that the results have already been written

2. Even if Peter Obi manages to navigate the treacherous waters of Nigerian politics and wins, his troubles will just be starting. Obi does not know the Nigeria he wants to be President of, he does not know that 'one Nigeria' does not exist, and that some people will always see him as nothing more than an Igbo man and Christian. Those people are going to going to use propaganda, deciet, lies, insecurity etc to sabotage his regime from day one. No matter how well intentioned Obi might be, every move he makes will be turned into an ethnic, religious or ideological issue. Those who cannot bear an Igbo man being President will come after his regime like a hurricane. The result is that Obi will spend 4 years there fighting, if he is not thrown out before then, and achieve nothing.

3. Obi once said that Nigeria is like a car with a knocked engine, he was right. No matter how good a driver may be, he won't get far in a car with a knocked engine. Has Obi ever heard of a 'good Nigerian President'? No such thing has ever existed, or will ever exist. The driver is only as good as the engine of the car. No Nigerian President can do well. We are too divided along ethnic, religious and ideological lines to build a progressive nation. Everyone only talks about who will be the driver, few care about the engine, yet expect the car to take them to heaven. Who is fooling who? Some people like me advocate that we forget the driver, the engine and the car, disembark, and go our seperate ways. Some say no

My advice to Obi is to forget this cursed office of President and focus on his philanthropy. Obi will touch more lives and help more people this way. Until a time when people start taking the engine far more seriously than they take who will be the driver, the office of President will destroy whoever goes in there, and Obi should stay away from it.

My 2 cents

So how will our unborn generations enjoy Nigeria?

Namaster:
I like the swift response.

I realized there is an accessibility crisis in Nigeria the day I saw a hospital with stairs and NO ramp.

Dey play! The father has direct access to Tinubu.

SoNature:
I'll maintain that Kwankwaso has more political value than El-Rufai. In fact, Buhari was the most influential politician from Northern Nigeria. People worshipped him because they thought he was a man of integrity. Now that he has proven that he has nothing to offer, the north has no replacement for him.

As it stands now, Southern Nigeria has more influential politicians than the north. El-Rufai is an egoistic noisemaker like Kwankwaso. Na when he contest presidential election under unknown party and get 500k votes e go rest.

You want Tinubu and Buhari to compete for Northern votes abi? Tinubu won't get 20%

MONEY247:
This is why the Naira is gaining



The CBN is selling at N1,251 so no trader locks in large transactions above N1,251



In essence, the Naira has floated but the CBN is intervening to strengthen the Naira by selling its FX reserves to BDCs are a price below the willing buyer/ willing seller price



Implementations? The Naira will gain value but FX reserves are paying for it



This is a band aid, the CBN is attempting to fix a problem it can’t fix without a high war chest of FX reserves



The long-term fix is to export..



The CBN is subsidizing $ flow to the BDCs



Who are these BDCs? Who owns them? What is their contribution to GDP or job creation?



I would prefer the CBN subsidize exporters



If you export and remit back to CBN you buy your dollars at $1:N1251

The surest way is massive production especially in areas with comparative advantage..
And cutting down on exchange rate manipulation...

You just go Twitter go do copy and paste

mrvitalis:

So in your head that can meet of up the dollar demand?

What you would achieve is Buhari 101 massive difference between official rate and black market rate

Say I want to set up a small factory and need $500k to buy machines or raw materials... Where do you think I would go? ... U think I won't pay 10% above price to get my money in 1 week?

Do you know the BDC can actually make the naira 2500 overnight. They have the power over the rates. So if government paying them certain amount of money to bring the rates down, I think it's ok.
For your info, I am a strong supporter of PO but anything that will make the economy better, I will support

mrvitalis:

The only issue is you don't have the reserve to back this up long term... Can't even last 1 month

How many BDCs do we have? Approximately 1500. Multiply it by 10000 dollars per week. That means each BDC gets 40k per week. Multiply that by 12 months a year and by 1500 BDCs. The total is not up to 800k dollars a year. That is less than government weekly earnings on crude oil export.

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

And those mad people that earn the dollars through export will sell it to BDC or hoard it.

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

And those mad people that earn the dollars through export will sell it to BDC or hoard it.

Wow! Those that carried out this dastardly act will never go unpunished. The full weight of the law shall come upon them

TheLastProphet:
stop lying bro. CBN has for the past one month consistently defended the naira by injecting fx into the market

Werey... How does providing fx to those that genuinely need it bad? Shey you dey ok?

binary01:
There was nothing lawful about detaining those executives, nigeria acted like a rouge thug and that's were the mistakes started, this escape is just the cherry on the top.

What about the person that was detained in USA? Was that unlawful or lawful? Make una dey reason well na

Mynd44:

Alamesiya Escaped the UK And showed up in Nigeria. It was rumored that the disguised as a woman

He was on bail when he escaped. He didn't escape from lawful custody

DenreleDave:
It seem some of us here are sad and bitter that naira is appreciating... I know you are hoping for the worst for naira

I can understand understand your pain coz I bought high too.. Infact I bought at 1450 today only to go and see 1350 now....


Naira will appreciate, it will not get worse because of your greedy gain...

We are both in this but we hope naira appreciate and sellers reduce the price of their goods

I also bought at 1850

clems88:
by the time they are tired , the naira will go back to its sliding mode. They are just receiving themselves

If they continue this way, in 10 years time, they would have defended naira with 6 billion dollars. Keep your dollars ok. In ten years time, dollars will still get to 2k ok. Werey

HarryGleb:
When will the army revenge over the killings of their colleagues in the north or are they afraid of northerners?

Like how they revenged when shites blocked the COAS convoy in Kaduna abi?

You people complaining, do you realize that the company is bringing in foreign exchange into this country? The company is worth 100 pounds for Christ Sake. Think what that will do to this fragile economy. Let us praise Tinubu for his vision and brain that is over working

Mumu community. Na senior officers dem even kill. Una don buy market.

oluwaseyi0:
minister dey get chief of staff?

The chief of staff will appoint his own officials too