TheRareGem1: All Nigerians should rally round actually, he is a great leader. The one we want come 2023. APC should take note
A great leader that is part of the present team?. The same people who are accusing atiku are the same hypocrite who are rooting for osibanjo.. yorubas with tribal politic.
Kingcalls: Which 4 CL are u talking about stat padders ... did he contribute to the first?? Oh now u are comparing dead copa with world cup ...no b Euros again...deluded fans ... easy to spot dull people ...messi fans are dull
Lol, just like this dunce... lol, needing something to console yourself.. messi won 4 vhampion league, one olympic and a copa america... messi even have more worldcup record than your penaldo .... Envy no go kill una this penalty fans .... heart attack go kill you soon.
Tobichuks08: psg can't sign haaland not in this transfer window, mbappe has won himself a world cup.. Since the departure of iniesta and xavi how many ucl has messi won for himself? Don't start what you can't finish. Mbappe is a very vital player as at this moment one that every team will want to have more than messi because he is seen as the future. May i also remind you that icardi can play mbappe's role so calm down nairaland pochettino and allow time show us who to celebrate
Lol, look as how dumb you are. Mbappe single handedly won him self worldcup but messi didnt single handedly won him self 4 champion league and copa america? Your brain dey pain you.
Kingcalls: Loom at una thief....y are u messi fans scared of him leaving... u guys truly know he is the one that can give u guts CL...una wan use am shine come talk say na messi.... he has stated that he does not want to play with messi cos he know u criminal fans will credit messi despite mbappe doing the job... criminals ...let ur messi do it na ...y una de fear mbappe to comot... goat kor fowl ni
But he has been there for a long without any champion league.
Please have an idea on how i can use the binance reward trial fund? I have redeemed it. I heard it can be use to accrue interest ... how can i use it to get the interest?
Minjim: You people are usually betrayed by your emotions and bottled up hatred.
You yorubas dont care about the negative direction to wish this country is moving to as far as your own is in charge.. you guys are vile parasites living on it host.
Grayoso: Lol. See painment. Pretty sure you're IPOBian from Abia State.
Unfortunately for you most Nigerians are not into self-deceit and don't see things as you do.
They understand Nigeria's political reality enough to know the failure of Buhari is his alone. Nothing to do with Osinbajo who cannot do anything unilaterally or without the approval of Buhari and even the most junior member of his ruling cabal.
The effort of you IPOBians to discredit Osinbajo is DOA (dead on arrival). Nigerians love him and he is acceptd by all except you hateful and ethnocentric folks. Osinbajo will be President in 2023 100⁶% if Tinubu cannot/will not contest.
Shut up, you yorubas are the one voicing for osibanjo... you guys are so tribalistic.
AnonPoet: Will ₦900 Naira be equal to $1 Dollar in 2021? In this video, Finance & Tech Reviewer, Fisayo Fosudo shares a very detailed analysis about the new CBN policy regarding the ban on the sale of foreign exchange to the BDC (Bureau de Change) as well as how speculators think the dollar rate would be against the Naira.
During the Monetary Policy Committee Meeting that the CBN regularly has, the CBN governor announced on the 27th of July that they would stop selling forex, dollars especially, to the Bureau De Change Operators, and the reason cited was because of the unwholesome business practices by the BDCs that are putting a lot of pressure on the Naira. What does this mean for Nigerians and the economy? This is an attempt to look at both sides:
What is Going on?
In the year 2000, BDC operators in the country were only 74, in the range of the year 2010 and 2016, that number rose to 2,000 BDC operators and in 2018 to the 2021 year range, that number went up to 5,000 BDC operators in Nigeria. The thing is Nigeria has 2 markets, the Normal Import and Export Window market or the Bank rate and then the parallel or black market rate. Historically, the black market rate has always been higher, there was a time when Naira to the dollar was 22 on the normal rate and Naira to the dollar was 87 on the black market.
What have the BDCs been doing?
The CBN governor was receiving over 500 applications for BDCs every month and analysts claim many BDCs were flouting the rules of FX Guidelines by selling more than $5,000 per person or even getting more than one license to access the $20,000 (per license) weekly allocation from the CBN to the BDCs. A license requires that the BDCs deposit a minimum capitalization of 35 million Naira. Previous CBN FX Sale Stop
The CBN has in fact discontinued selling of foreign exchange to the BDCs before. in 2016, Nigeria went into a recession because of the low oil prices. The CBN stopped selling dollars to BDCs partly because dollars from oil sales and foreign investors stopped coming in, the federal reserve also fell below the CBN’s target point. The dollar rate rose against the naira.
In January of 2016 and the CBN governor said that the bank has been selling at 197 to the BDCs, they have become greedy and are selling at 250 to ordinary Nigerian people. According to Nairametrics and a frame of reference, in January of 2016 when the CBN banned BDCs, the exchange rate was 268 per $1, in December of 2016, it went crazy to 495 per $1. We had a 46% currency devaluation and an 85% dollar gain against the naira. Basically, if you had $100 in January of 2016, it was 26,800 and by December it was 49,500 naira.
What will happen?
Just like the last time, the dollar rose against the Naira and subsequently stayed at 360 when the CBN was able to attract dollars from overseas with high interest from investors. This time around there’s a prediction that dollar will rise to 600 Naira per $1 or if we go by the 2016 number or 925 naira per $1 in December of 2021. I mean, It rose sharply to 525 from 500 per $1 just 1 day after the CBN made this recent 2021 announcement but it’s said that it would go even higher. At least in the short term. Fortunately, over the course of the days, it gained against the dollar and even went below 500 which is a major positive.
The CBN has taken many power moves and said that 1) Any Bank conniving with BDC now will be sanctioned. 2) They have in fact released 200 million dollars to banks so that people can buy directly, from their banks and 3) The CBN has even put out a letter stating that Bank should have teller points at their branches for the sale of FX to retail customers. Especially for people who want o request for Personal or Business Travel Allowance, School Fees, Medical Payment, Business transactions amongst others
The Aftermath - What does the Future Hold?
Analysts are looking at the fact that this move will drive the dollar rate up really high, at least in the short run and many people will take advantage of it. Do note that they have not banned BDCs or seized anyone’s licenses so people are still patronizing BDCs, however, the thing is that because of this shocking news, people might want to buy and hoard more in fear that the rate would go higher, which will make it go higher because there’s a lot of demand.
Many reputable analysts have advised that the CBN should just sell to the BDCs at that same very high rate of maybe 490 and force them to sell at 500 in the black market. Some also say Nigeria should just devalue the currency at 500 and let’s call it a day. This move might force BDCs to increase the price, causing the dollar to even rise further but again if it can be stabilized, the BDCs will lose almost 90% of their profits, the Nigerian people will gain.
The ultimate advice that can help Nigeria is that we find a way to make even more foreign exchange and not just demand for foreign exchange, it means more freelancers, higher oil prices even can help as it always helps, oil got us here anyway, we need to export way more and bring in more dollars so we can have the bargaining power, we also need to produce and consume locally, that is buying Nigerian and selling Nigerian.
Do you think Nigeria would export way more than we import? Would Nigerians suddenly start buying more locally produced goods and food and would inflation stop rising? Only time would tell, but I want to know your own thoughts about the situation in the comments below.
Rubbish... Nigerian always claiming to know something but they ended up knowing nothing.
Goodmarlian: 97% percent of Japan is unhibitable with rugged mountains,infact Japan entire population of 120m lives in a land less than 20,000km2 infact it was the major reason they wanted to build an empire in 1945 resources were limited in Kyoto island Igboland is about 41,00km2 with a population less than 40million. God bless Biafra.
basilico: A vaccine passport will be required in the near future. Many on the left are OK.
But a voter ID is to prevent blacks from voting because they will not be able to get it..
The double standard of the dems.. You need an id to drive, to fly and even to drink alcohol, but you dont need an id to vote because they need to inflate vote to win an election...
Investment › Re: Crypto Currency Investors Thread by htdot: 6:37pm On Aug 14, 2021
the guy want shift your pant.
