₦airaland Forum

Ok.
So, how much of that money came from government's pockets?

matify83:
Those countries that have adopted the dollars as their national currency[b] are not faring better either[/b]. Check out Zimbabwe, Ecuador, Porto Ricco, etc

That's because no country willingly adopts the dollar unless its economy is almost destroyed.
It is a symptom and not the cause.

Goodnewsforlife:
oga it’s pure security sabotage

Those people shouting tinubu needs to have their heads checked, it’s pretty clear some powerful men are trying to frustrate tinubu but they will only use defenseless citizens to achieve their aims

I can tell u more will follow, this is pure economic sabotage

Can you remind us what year this excuse became the standard for insecurity?

So, nobody in the presidency understands what cost of living stands for in relation to inflation?

Stop misinforming people.
There is nothing like discounted dollars.
There was an official and and black market rate.
If you are a manufacturer or engage in legitimate business or
other activities such as school fees that is not blacklisted by CBN,
you could apply at the official rate.

Okay

christistruth01:
What is the C of O is revoked like was done in Kaduna by El Rufai against his Political Opponents before he personally demolished their House?

This isn't a matter of C of O.
The government can acquire any land for public use.

But he is alleging Seyi Tinubu and not the government wants the land.

People who have his kind of problem are usually those who use government connections to acquire land
and then fall out of favor with the next administration.

I see that he failed to state how he acquired the land.
A land which "undergone a government assessment" is different from
one purchased. May real estate agents/lawyers can explain better.

I hope he is not one of those who got allocated land due to connections.
If they can allocate land to you, then can also take it away.

He should held to court.
Nobody can grab a legally acquired land.

Tokskob2008:
Police can effect arrest at any event as long as they have a warrant of arrest and enough evidence to tie the person to the crime..

Nigerian popo will never source for those two things but will still make the arrest anyway

Only the bold is necessary.

santaclaws:
Till this very day, you have lots of Igbos, Niger deltans who are into kidnapping. One chance operators are majorly from the 2 aforementioned tribes, so everyone must be treated as a suspect, not that once you hear about kidnapping, you say they're herdsmen, that's a security flaw that would allow the real kidnappers escape without suspicion..

So where are the real kidnappers of Nabeeha?

There are a group of kidnappers who brags about their exploit, sometimes post videos and almost always kidnap en masse
and then whisk victims to the forest.
We know exactly who they are.

You are deceiving yourself if you start looking for what is not lost.
You might as well make the whole of the country suspects.

Bobloco:
Illiterates like Tinubu

Buhari have proven to be more educated and knowledgeable than Tinubu

If you think Buhari is educated, then you must be less educated than Buhari
to see him in such light.

MsAllison:
you're right but sometimes I don't blame Buhari or Emefiele on this.
they did that thinking Dangote had Nigeria interest at heart not knowing that they're dealing with a ruthless and heartless business man.

When government distributes fertilisers to farmers is it because the farmers have Nigeria interest at heart?

Nope. The government simply calculates that in the long run giving free fertilizers to farmers will be a net positive
for the country's economy.
That is the same reason OBJ banned cement import and supported Dangote cement, it is the same reason Buhari's government supported
Dangote refinery.
It is not because they think he is a nice and holy man, only a fool will think that a capitalist has any other goal apart from maximizing profit.
If you have ran any business of worth, this wouldn't be strange to you.

He added that the little eggs being produced by the few poultry farmers in the state are now hoarded by some merchants bent on making huge profits during the Ramadan.

Eggs can't be properly "hoarded".
It has a shelf-life and would be spoilt if kept for too long.

The primary reason for scarcity is that poultry farmers are shutting down en masse due to the high cost
of feeds.

Feldie:
money is based on faith. If everyone lose faith in money it becomes worthless. You can't be in Nigeria and be telling govt you lost faith in Naira. If everyone loses faith in the Naira what will happen to the country, trade by barter?

No trade by barter.
Dollar, Euro and Pounds will partially take over just like in Zimbabwe and Lebanon.
Next time, I hope Nigerians have learnt to not elect illiterates like Buhari into power again.
In our miracle-seeking quest, we destroyed the economy.

ozo13:
we can now say a country against itself.why should entities in Nigeria be demanding for dollars transaction within the country and you have Nigerian citizens there not saying anything.When this naira free fall choke everyone, we will do the right thing by force.

If you think there is a "right thing".
Then you have no idea what is going on.
Either Nigeria earns more dollar than it needs, or the Naira continues to fall.
Just like banning abokifx, you will see insignificant gains for a few days, then the dollar
rebounds again.

Where is the corrution?
So purchase of 2 cars equals corruption?

Throwback:
Why domiciliary accounts are still allowed to make transactions besides receiving foreign remittances is beyond me.

You really think there is something special about Nigeria's domiciliary accounts.
If you place restrictions on it, people will stop deposits and Naira will massively sink.
This is the age of USDT and international finance.
You can operate a US or European bank account from anywhere you want.
You will also be seen as impulsive and unreliable by foreign investors.
There will be a massive drop on inflow.

That Nigerians are still being allowed to use our Naira to be chasing dollars and pounds to spend on foreign education, is beyond belief.
Only importation of products and technology that is required for industrial consumption to produce end products in Nigeria that has no alternative local source, is the only thing our dollars should be expended on at this stage of our forex crises.

You are making a mistake, it is not your dollars if you didn't earn it.

Left to me, I would have banned forex sales for foreign education with a 10yr embargo starting this 2024, with the exception of those already enrolled in foreign schools and would be making subsequent payments as they proceed in their academic program.

Let us assume you can do this(you can't for various reasons).
You may choose not to sell dollar to students, but you can't stop them from buying from other sources.
Perhaps you are thinking of banning BDC, black market and the rest but no inform person need
those archaic methods to get forex.
Anybody can be 100% digital without having anything to do with Nigeria bank and forex control.

bigpriik:
i believe it 100

Why would anyone buy your proposal?
You obviously can't beg or cajole those who have something to offer to join you.
What is in it for them?

bigpriik:
i mean in modern times persians were ancient world power

individuals can fund it colectively if we work in one accord.

Say you believe in your plan, why would anyone buy your proposal?

degamonn:
Between the suspected man and you the publisher who published this news, who is enemy of the state? The security people are doing their work secretly. you rushed to publish their plans as if the suspect don't have access to your news.
By making him aware that he is being investigated , he adjusts and block all traces.
To me, the publisher of this news is an enemy of the state.

So you believe this?

I am certain that the government itself paid for this pointless article.

GeneralDae:
This would reform the market first before you talk of demand and supply. Demand and supply alone in a distorted market does not help you much especially in terms of stability when there is a global disruption or when the US FED increases rate.

Actually, it does.
You have a distorted market because the players knows that the banks are struggling to meet demands.

People started talking about black markets when the Naira rates collapsed, not before.

We are talking about billions of dollars demand deficit and you think merely unifying the rate
will make any meaningful impact.

You can have a unified rate but you can never have stable rates without addressing supply.

emperor4love:
this my b intentional not rough play....politice no be ur mate

If it was a clash between street urchins, then you may be right.
But that is not how politics is played at that level.

Tareq1105:
It's obvious you don't understand the agreement.

It's payment for crude supply in advance so stop the misinformation.

You are the one spreading misinformation.
It is a loan with crude as collateral.

GeneralDae:
At this stage, federal Government should see all market players as one including crypto, foreign IMTO's and BDC's. Just digitize BDC's and make sure they are all Licensed.

Anyone who wants to trade FX, just need a NIN or ID card. All Banks and Licensed BDC's must be monitored and report their weekly transactions to the CBN. Rates and volumes should also be reported live across all platforms.

With these regulations, there should be no black market or official market but one integrated market were prices are spread across a range of 25 naira ie if Banks are selling at 1000 naira, BDC's can be selling at 975 naira, and cryptos at 980 naira.

That's a good idea for transparency though it will have very little impact.
The elephant in the room, demand/supply ratio is the silver bullet.

RepoMan007:
No dollar no dollar yet we have so much dollar seating idle and hoping it sells for N5000.

What's your business with another man's property?
Why aren't you complaining about the trillions of Naira sitting "idle"?

Now the exchange rate has been collapsed properly, those speculators will start scheming to have the naira weaken on both windows so they can sell with profit. I blame the FG who kept pumping cheap dollar into banks and trusting them to sell it cheap.

Alright, tell us exactly the "cheap" rate FG gave to the banks.

IVORY2009:


How he manage to smuggle food and drinks into the prison, is something else, is it that the US prison security network is loose, or it's an insider security bridge.

It is quite easy to smuggle things into US prison.
There are gangs which specialise in smuggling in conjunction with corrupt prison guards.

Kingray10:
I heard this news today, Nigerian that went to Ivory coast are not coming back.
I don't know if this info is true or not.
Please if you have any ideas about this news kindly contribute to it.
Let's know what's actually going on.

You heard the news, how, from where?
You must be a mind reader.

Coolsat:
Fubara should be brutal with him already.

Brutal?
This one thinks this is a struggle between 2 street gangs.
This is a battle of brains, not fist.

Dpharisee:
In the next one hour the Rivers state High Court will issue another injunction "Don't make yourself available to the Police"
Wike group gets daily injunctions from FCT High Court while Fubara group get their own counter injunction from Rivers High Court since the 2 courts have concurrent jurisdiction.

They have turned our judiciary into a joke, its really disheartening

The first order stands.
You can only vacate an injunction in an higher court.

IkeOnyia:
And those who flout the order should be slapped with fine or six months imprisonment. The USA that we all envy for their orderliness and development is advanced because they have laws covering every aspect of their lives from marriage to divorce to approximate treatment of pets to pollution from cars. Nothing is too personal to be subject to regulations. Africans like lawlessness that's why they want to do as they please. Soludo is on point with this.

The US is a legal abberation in the comity of developed countries that is why it has the highest incarceration
rate in the world.
Having absurd laws to guide your personal conduct should only be found in totalitarian or theocratic state.

I think Soludo needs to make law to also ban the use of cars more expensive than 5m while also
banning the building of personal houses with more than 3 rooms so as to reduce the burden on the poor.

SMH