BigBashiru:


wto is controlled by the west. install democracy wasn't the real reason for the invasion. I said EU and Europe notusa concerning oil.

it seems ur drunk.

BigBashiru:


1. cocoa - uk/EU hates African/Nigerian cocoa even though African cocoa is the best.... they set high tariff for it.

2. oil - hv you forgotten why USA invaded iraq?

I can't think of a last one rn and iwont argue..just do ur research

BigBashiru:


pls look at page 3 of this thread for my comment on how the west installs "leaders" in Africa.... to answer this ur question directly:

1. EU/uk sets high tariff for Nigerian raw materials or finished goods....then force the Nigeria to sell raw materials to them cheaper (of they could also achieve this thru a puppet president they have installed)...

but Nigeria had addressed this under the Buhari administration who will now be cooperating with Eurasia as opposed to Europe.

BigBashiru:


it's not true....this is the narrative the white man wants you to believe.

how do you explain UK having no natural resoure and being fewer in population being among wealthiest nations?

it's because they are professional thieves that stole from and continues to steal from other countries including Nigeria.

amaham:

September go soon finish, people looking for dollars to pay school fees will soon reduce. This maybe the highest you would see the dollar this year

system21:
Can somebody tell me one thing working well under Buhari government just one thing

PUSSYHOE:


They are the one controlling our leaders?

Fahdiga:
Imagine this happening in Nigeria and this brutal regime. I think Africa is blessed in terms of not witnessing such a devastating natural disasters

TenQ:

It's amazing that many Economics graduates speak like this: they think that FISCAL policies can exist without the underlying PRODUCTION of goods and Services. All they see is making high sounding pronouncements to build an economy.

I am not sure of N595 to dollar rate. It seems its about N420 (not sure though)

*Edited: Everyone on the internaet is quoting the CNB rate o!

TenQ:

No.
1. The bulk of the traders who need Dollars can not legally source it from the Banks.
2. The CBN gave a limit of $100 per month which is grossly inadequate for the small trader.

If I want to import pressure cookers of $2000, where do you advise that I get my forex (we dont manufacture pressure cookers in Nigeria)

FreeIgboho:


You people don't think. How about other entities reporting exact same thing? What if AFx decides not to have anything to do with Nigeria and only reports the rates? What accounts will they freez??

profmallor:

Sincerely, most Nigerians want the rates to go down, why not, we are all suffering from this spikes. Even the purchasing power of those that remit from diaspora has dropped, is it the cost of building materials or services you want to speak on. All have increased in recent times. ever since this CBN decided to ban crypto trading, which was reducing the pressure on the Naira, they lost the good will of many Nigerians. So unless the cost of a barrel of crude suddenly jumps and output goes back to pre COVID times there is naturally no way the Naira can appreciate. The current CBN leadership is so eager to please their master so they ve thrown all knowledge of running an economy to the winds.

profmallor:
How did we get here? Every single policy this clueless CBN have made has had zero effect on improving the economy. Nigeria has slowly drifted back to almost a military regime under Buhari. CBN better ban the internet and ensure phone calls to abokis are also banned so they can hide their folly. When they makes their stupid policies and the dollar rate drops, they dont remember to ban abokifx. Some weeks ago when they banned some BCDs and the rates started to go down, they were quick to announce they had found the solution to world hunger. But now that the Naria adds N2 daily to the rates showing their clueless-ness, they are quick to ban information. Basic economics of demand and supply they dont know. If they were wise, engaging with and befriending the likes of abokifx to publish reduced rates would have been the better option. But no, they are like their master in aso rock, force with no wisdom. How long does it take for a web site to pop up on the internet?. kai who did this to us. Even I can publish rates daily to get renewed traffic now that abokifx wont be the central convergent point any longer. In 2 weeks time, they should ban the internet, then ban Nigerians in disapora from checking internet for rates also. rubbish!

Brandonx:
The AbokiFx has been helpful to me and many others, their rates are always accurate when one intends to transact in the black market.
It seems this government don’t like transparency

Optimistguy1969:
Is abokifx their major problem now?
Emefiele too dey zuoooooorrrrrr

kennymotors:
the website is not helping Nigerian but those in diaspora,they will quote you aboki fx instead of official amount

Solatium:



I have full understanding of everything you stated even before you itemized them.
i was only looking for something that i don't know unfortunately you did not state anything new sir,i am not being arrogant here.
but let me make few corrections to some of the things you said.

1...
Oil prices is not falling, it's actually going up,it was around $75 PB about 24hrs ago.



2... i agree we don't earn enough to balance our trading sheet and we can never earn enough,do you know why?
Remittance from abroad are routed through black market because you get a higher exchange figure when you do sell to them,that singular act alone has wiped off about 40% of your forex from the system,the remaining ones have to come from what is declared legally and whatever most people get from the legal means are divided into 2 and a part sold for profit at the black market while the rest is used for intending purpose,what do you think will happen when we do such? where will the replacement comes from if we all go to the black market to sell? of course you will go to the same black market to buy at any rate when you need them. we are all involved in these .


3.... You can not even have enough dollar in circulation even if our legal tender is American Dollar,it's simple economic term,the more currency you have in circulation the higher your inflammation,we do not even have enough naira to spend at every giving time.
Your o level economic subject an answer that when you flip to that page that talks about how you control excess liquidity which part of (a) OMO open market operations (b) Stock trading (c) withdrawal of cash from circulation and what have you.


I can tell you for free that their is no way your forex needs will keep jumping exponentially every week when the population remain almost the same within the same period.

Speculators which Black market and Abokifx belongs to that category are the major problem

CooKeed:


With due respect, you're beginning to embarrass yourself. I don't think you know enough about this topic. Please.

hahn:


Keyword: Contentment

Unfortunately that is something many Nigerians might never experience in today's Nigeria

richmond500:
he's a thief, probably a yahoo boy

Dalby:


Not true l have a Royal Q account and a Huobi account both linked to my binance account. N10k will only be achievable in 2 or 3 days of a 30day month with your $500 investment. Why l got into this talk is for us to tell it as it is, do not raise people's hope and it is later dashed...Royal Q is a great way to earn while you sleep l will not deny that...Also referral bonuses was not part of this discussion...

Dalby:


Not true l have a Royal Q account and a Huobi account both linked to my binance account. N10k will only be achievable in 2 or 3 days of a 30day month with your $500 investment. Why l got into this talk is for us to tell it as it is, do not raise people's hope and it is later dashed...Royal Q is a great way to earn while you sleep l will not deny that...Also referral bonuses was not part of this discussion...

BillionKnights:

Do you mean "can't"

skyoboy:
No, it is not. Continue searching for the one that will pay you #500,000. If I may ask, what will you offer your employer who wants to pay you #150,000?