₦airaland Forum

Blazetrailer:
Lol...Hydra stupidity. This is what happens when you are a numty dumpty in real life but somehow got barely fortunate to have a phone and access to data and then assume all of a sudden that you have been weaned off your buffonery.

My question to you again is...do you read over what you post and then in your mind, they appear to have a semblance of anything reasonable in line with known economic and financial theories/models or you just conjure up some nonsense in your brain, fuelled up by the propaganda of the current government and you just click on the submit button?

I take it that you are high on some cheap local gin. When you get sober, take time to read your rubbish again, I am sure you will be ashamed of yourself.

If what you moronically tried to explain below is what you have been trying to call arbitrage all along, then I underestimated your buffonery. Sorry, you are compeletely retarded. Roundtripping is nothing new, they have been doi g this since the days of Shehu Shagari. What is currently happening is even worse,it is capital flight. There is a reason the exchange rate is still despite government's noise about Naira being undervalued. Billions of Naira get moved out on a montly basis for investments and safekeeping abroad because Naira is beingbseen everyday as apoor store of value. It is not like the devalution has suddenly made USD available in Nigeria. The government is trying to pop up the naira on a daily basis for same reason Buhari anf co were doing it, there is still a thriving black market and businesses still fo not have access to the USD hence the rate exorbitant rate. Claiming that these were caused by arbitrage ranks as the dumbest I have read in many years. I dint exoect you to undertand the xonnections anyway, so little suroise here.

By the way,leave the level of education I have or the grade I have aside, lets keep it to what we have on Nairaland here, that should be adequate to judge our level of education....but if you care to know, I have those qualifications that Tinubu wish he had and he lied about when he was completing his INEC forms while contesting for Lagos State Governor in 1999. That and more, my friend. What your President wished he had......I can boldly put my name out ans attach all my credentials without anyone globally saying pim...your President can not dare.

You need to have your brain check before you comment ,because there's difference between arbitrage and round tripping .

Capital flight is one of the reasons naira loses value but arbitrage used to pose greater risk because the corrupt people have access to cbn rate funds and take it back in black market rate which pressurise the naira while the masses buy black market rate to pay for foreign goods and services which wil leads to price speculation because those that buy at black market rate will want to make profit as well .

The current gap between CBN and black market is now neglible unlike before that used the be between 250 and 400 naira .

We've been complaining of bad governments since but now we have someone bold enough to make an ingenious change but blind or short sighted armchair naira land analyst like you that never handle anything tangible beyond 2by2 shop is trying to feel important.

I'm into a lot of things and trading is one of them so I know what I'm talking about .

No matter how I try to open your head ,I guess it's too thick and it's like trust wallet logo .

You're irredeemable. Blaze trailer my foot 🦶. King of the thirds !

Blazetrailer:
Lol... ....complete hogwash. Juxtaposing and arrant redaction of a simpleton. I initially had doubts about your level of education but I am now so convinced you are a stark dumbo.

All you have written below is not beyond the kevel of what jobless busybodies plap about in those local bars ans palm wine joints.

I am not going to bother brain picking the numerous absurdity in your disarrayed awareness or disastrous understanding of basic economics but to state that the seized Emefiele's assets and Herbert Wigwe"s university are examples of arbitrage yiubwere talking about stands as one of the dumbest thing I have ever read in my entire time on Nairaland. There is a clear difference as day and night between arbitrage and crime on the case of Emefiele. Besides in what way is Wigwe's university even close to abritraging?? Lord have mercy!!!

If you dont have an idea, millions of USD leave Nigeria on a monthly basis, rates irrespective. Naira is proven to ne a poor store of value so Nigerians, especially givernment officials ans politicians move mollions out monthly for safekeep. So, the source of arbitraging still continues despite the poorly advised devaluation. If you doubt it, check hiw much funds tbe fintech companies move out of Nigeria on a monthly basis or how much the BDCs sell on a monthly basis.

Like I started with, you dont have an idea of what you are writing. Mr engaging you is even a favour yiu shoukd ho to your church or mosque ti give do a thanksgiving fir

You're bored and looking for the easiest way out of naira land because you can't cope with the heat but you're stuck .

A person that can read but didn't read and a person that cannot read are not different from each other . This simply means that a self acclaimed literate person like you that refused to learn is not different from an illiterate person . If we check your qualifications now ,it might just be pass or 2 2 in one useless course in one useless village .

You spoke about corruption as if you have the littlest grasp of its scope and you're still grandstanding in your ignorance.

Emefiele was able to embezzle a lot of money by moving the money to overseas at CBN rates then bring them back to Nigeria at black market rate ,the same thing people like bode George accused Wigwe of . Also ,most billionaires like Dangote and BDCs are also in this business ,not to even mention politicians.

In your little mind ,tell me all the profit they're making ,where are they coming from ? Are they coming from your empty skull ?

The fintech you're talking about also engage in arbitrage and they're still doing it till today but the gap is minimal and the volumes are limited because some international organisations even charge local debit cards in naira now .

I guess you should continue to look for a way to run away from naira land so that your frustrations will not lead to something else .

Before you start biting trees ,know that I don't care about your insignificant existence,you're the one that responded to my comment.

Blazetrailer:
Lol....guy, you go school at all?

Even when the government sources claim Naira is undervalued at 1500 to 1USD and claim it is a willing buyer and willing seller market, you are still bringing in arbitrage angle as the reason for the exchange rate.
This is after the Central Bank itself creates a sell rate lower than the market by selling to BDCs at a lower than market rate. Shouldn't the pressure on Naira make it overvalued?

If I may ask, what exactly is the pressure on Naira??

Naaahh!!! Dont bother.....I have read enough to know you don't have the fundamentals....there is no point engaging you further....honestly

It's only a fool that reason the way you are reasoning because you're trying to say the same thing about floating of the currency.

Whatever price the naira is right now ,it will trade back to its deserved value instead of the government trying to force it to a particular value with borrowed funds .

Now let me educate your ignorant a s s .

Did you read the news about Emefiele estate that was seized in Abuja or you're living under a cave ? That estate is worth billions of naira ,did you see Wigwe private schools ? Those are just few seen tangible assets . Now there are several funds like that ,that arbitragers laundered out of the country ,the gap between official and black market rate then was almost 400 naira .....imagine the volume of such arbitrage trades in a single day and the amount of money that's embezzled via such trades .

Where do you think such money is coming from ? Or you think that 400 naira profit just come from the thin air ?

After the policy changes,there's an abrupt change in value to adjust with the current reality ,but if you monitor the market for several months now,you will see that the market is stable .

Blazetrailer:
lol.... did you read what you posted before you clicked the "submit" button?


This is what we are saying. These guys are barely educated. Not sure this one understands the gibberish he has posted below. Arbitrage? Devaluation?? Kini n so?



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Progressing themselves to be wise they become fools .

Too much pressure on naira makes it to fall and two of the most things that pressurise naira was arbitrage and price speculation .

These two put more pressure than any form of tangible imported services or products.

Now get lost .

The most important reforms are the unification of the rate and floating of the currency .

Investors now know that the dollars they invested will compete in the market and will not be affected by abrupt devaluation that's caused by arbitraging .

Crypto currency is not absolutely anonymous. People have been illegally importing arms before adoption of crypto currency,in fact some brokers or countries are complicit in financial secrecy .

Illegal importation can only be stopped by stricter border control .

iichidodo:
[color=#1986BC] Deepseek is next level and it's freeeeeee...[/color]

Grok is better ,free deepseek server keeps being busy ,free chatgpt is no longer smart as before ...Co pilot is good but can't take long words ,Gemini is like Co pilot .

G

ValarDoharis:
You know these dont work. Only electronic transmission and collation will give a semblance of transparency and credibility

It's a response to your comment that some PU send preloaded results.

Each party agents make sure that everything is alright before voting and after voting .

Gret music ,I've been vibing to it since .

ValarDoharis:
Next election will have a different type of rigging. They won't be f00lish to repeat same tactics. In Imo election, they preloaded election results before the election

I believe that's why there are observers or agents from each party in each polling units .

ValarDoharis:
A system glitch would not take over 12hrs to restart the system.

Texhnical glitch indeed, that they cannot explain what type of glitch that affected only the presidential election even though same system was used for other elections same time

Presidential election requires more scalability.

When Facebook suffered system glitch in 2021 ,it took them about 24hrs to rectify it .

Sometimes,some glitches or bugs take longer to sort out .

In the last US presidency election that has more resources for scalability than Nigeria,they experienced system glitches in some areas .

Lastly ,it's called software development for a reason ,today's development will be better than yesterday's .

Next election will be better .

ValarDoharis:
Glitches are caused by corrupt humans

tell me you dont know about tech without telling me you don't know about tech

It is better that it's fully automated but glitches are not caused by that, security issues, lack of proper architecture, or other scaling issues can cause glitches.

mikkyangel3:
Re-read what I wrote again.

This time slowly, to properly understand.

AI is the present and the future ,it's the low hanging fruit . It's adoption is a knot loose to every other tech problems.

Again ,he has nothing to do with power ministry .

mikkyangel3:
This is a minister out of a myriad of non-performers like that one in charge of blue ocean whatever.
Oyetola is more interested in returning to Osun state government house than managing the fake ministry he was assigned to.

Or is it that slowpoke called Bosun Tijani, with his White Elephant projects?

Man is proposing AI adoption in a country that cant boast of 24 hours electricity.
When there are numerous low-hanging fruits that will leave his name in the annals of history.

Nigeria is NGMI IJN.

Amen

Bosun is performing below par but AI adoption is good and he's not in power sector .

NinjaMetahuman:
cost of production will drop if naira continues to remain stable.

Importation however, must continue.

Let the farmers compete with foreign import instead of putting masses at their mercy where they hoard food, course artificial scarcity and sell at ridiculous prices, and at the same time blame federal government for their greeds.

You're right but w can't deny the fact that an acre of maize farm in some developed countries might produce more than an acre of local maize farm and have cheaper cost of production because of better seeds and mechanisation .

chicfarmer:
Agreed. Government should heavily subsidize inputs and fertilizer for local farmers, this will help reduce their cost while also keeping market prices low. Win-win for everyone.

The government has subsidised production in the past but some farmers will rather take the produce to neighbouring countries where they can sell at higher prices .

Also ,if you observe,imported products are cheaper than locally produced goods which means the loss of value is coming from our insufficient agricultural practices.

Cost of production should drop too so that farmers can make profit as well.

Rexymania:
Where in Ikorodu?

You wan go there ? Na for Bayeiku area . Same sign board.

There's one in Ikorodu too.

I hope a person from Itsekiri,Kogi,Kwara,Edo,Benin Republic,Ghana ,Brazil, Cuba,Togo or Liberia etc will become the leader of Afenifere one day .

Being a Chelsea fan ,I will advise him not to join . Chelsea is a very funny team but I think Man U is funnier ,Osimhen should not join man U . Spanish teams are better but it will be hard to be in their top teams .

It might be true that they don't have hands in his death (i.e directly killing him) but it's on record that they bullied him .

Even before it became glaring ,a friend of mine once called my attention to how naira Marley didn't spend money on Mohbad's video but spend a lot on Zinoleeskey's .

One day ,I will sit down with kings too .

This picture is dope .

Check the gear ,for the thick smoke ,check the engine .

Adeleke should calm down .

Putindbutt:
Illiterate, read & understand. They are in a conference of African Air Force Chiefs, what does that tell you?.

Shut up your dirty mouth .

*

What are the drug names ?

Also ,BBC always like to chook mouth in other countries' problem and paint them bad but absolve themselves. There are UK companies that sell unvetted drugs in Nigeria market as well .

xoverx:
Oga he has been granted bail. Meaning he's no longer in law enforcement custody.

I don't think he has meet up with his bail conditions,therefore he's still in custody .

Imagine how the world will be if US and Russia are no longer enemy but partners ?