I have nothing to say really
Six decades of massive stealing being avoided is now what you want to impress on us as solution
Father lord who I offend? I no mind borrow money do visa go beg am.

People are now wiser that's why they hate the word Vote Wisely

APC BMCs has been shooting themselves on the foot lately and are now jittery

They have been trying to get a stain on PO but all they could find was stale

So they conjure fake pics from Google to drive their propaganda.

https://mobile.twitter.com/vivadaraa/status/1564173775557599232

This election go sweet and lots of lies will be debunked cause this is not 2015 nether is it 2019

Since fake websites and accounts strategies to pin on Peter Obi and supporters don cast dey have gone down to their natural mode, Propaganda

Nigerians are woke!

Atiku arrived in Kano and the crowd that welcomed him wasn't convincing. To cover the shame, his Twitter supporter Jackson lifted old photographs from Google to show off. What a shame.

https://mobile.twitter.com/OluchiMedia/status/1564021818167595010

Parachoko:
This thread is about Obi lying about how much Nigeria exporters earn in US dollar.




So what is the correlation between the question you are asking and the thread?

People dey talk A

You dey talk B

I said that to make you understand why people go for black market rate because there is enough dollars in the black market and it's more profitable than the official rate for exporters.
I am not wrong in the explanation I just used it as am example to explain my point.

So far this is 2015 happening all over again
This is the same effort if not double I used to explain why buhari would be a collosal disaster and I think I might have to stop this cause these would be wasted Again!

Please don't quote me again cause I won't respond!

oyatz:



Suppose you export 800tonnes of Cocoa to Netherlands, sold it in Dollars and the money sent to your Domiciliary account in dollars.


If you want to withdraw from the bank in Naira, which exchange rate will the Bank use to calculate your money in Naira? (CBN rates or Black mate rates)?

I would collect the official rate if I used the official rate to buy fertilizer
Else I would sell it to exchangers that would be begging me for #600-#650 rate

This is how they hide the truth

It is well with us!

oyatz:




Peter Obi makes too numerous mistakes with the Statistics he always quotes which reflect his poor understanding of the subject matters.


Even if he wanted to convert based on the black market rates, he ought to have used the prevailing black market rate for 2021 (#500= $1) which will still be far higher than $30Billion, instead he said he used the prevailing black market rates of this week to calculate what Nigeria exported in 2021.

Maybe that's a mistake maybe it's not but please calculate it based on the day he did the interview.
In 2021 the rate was 650 this year it got to 680-690
I buy dollars once in a while so I know the stats is not far-fetched

Parachoko:
You're complaining as if you earn in US dollar and the bank refuse to give your dollar when you ask for it. That's why I asked you the question.

Oga I don't know how to explain to you again o
First off why are people storing dollars?
Reason is because the dollar would rise in value compared to the naira
So if I had bought dollars at the rate of #400 and it increased to #650 rate and I sell it how much profit have I made? #250 sweet profit oga

How else you want make I spin am make you for understand?

oyatz:


Do you know the differences between EXPORT and import?

I don't know my brother please explain to me in layman terms

Parachoko:
Do you earn in Dollar or Naira?

I earn in naira but 1 dollar means more naira for me in black market than the official rate.
So which one should I go for?

oyatz:


You don't understand this simple fact; you don't need to buy dollars when the export are sold in Dollars!


Dollar is the currency of international trade, the only reason why you need to buy dollars is because you are earning in Naira, so you will need to convert it to Dollars to IMPORT.


EXPORT: you earn in Dollars and need to convert it to Naira to use the money in Nigeria.

When you convert in official and black market rate where do you get profit?
Am just asking for a friend

obaaderemi:
What is actually wrong with you people?!!!!!!!!!

We're talking about export you are talking about import! Do you need to source dollars to sell your goods to foreigners? Exporting is. a source of forex to Nigeria and there is absolutely no way the banks or the exporters will convert the forex back to naira at the black market rate of #650. By the way the figures are for 2021. Even if we must go by Obi's wrong and asinine narrative, was dollar black market rate #650 last year? Don't reduce everything to something to argue over. Obi is not infallible. Far from it. He should have kept quiet. He's becoming a clown.

Okay oga I give you goods you pay me in dollars.
But before I made those goods I bought the tools I used at black market rate so why should I still use official rate when black market is where I would get my profit from.
You reason am for me, I come this world to do father Christmas?

life2017:


stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

Please check links below and screenshot banks don't have dollars importers buy from black market.

https://nairametrics.com/2022/07/29/nigerian-importers-are-desperate-to-pay-for-dollars-at-any-price/?

https://qz.com/africa/2058300/nigerias-central-bank-says-it-will-not-seize-dollars-in-accounts/?

obaaderemi:
This thing is simple. You export cashew beans to Korea from Aba. The Koreans will not hand money to you in cash, will they? They wire your money into your account in dollars. Will the bank give you #450 or #650 for a dollar? Oya, answer.
Obi needs to take it easy with his mouth.

Importers have no where to buy dollars except for black market cause banks don't have liquidity
And if you bought from black market at 650 /700 why would you go to the bank and collect 450 /400 na father Christmas you be.

Please oga buy like that make I come buy for your hand cause you are a good business man

See links below make e no be like say I dey talk without facts

https://nairametrics.com/2022/07/29/nigerian-importers-are-desperate-to-pay-for-dollars-at-any-price/?

https://qz.com/africa/2058300/nigerias-central-bank-says-it-will-not-seize-dollars-in-accounts/?

What about the IJaws abi Dem no dey Nairaland?

Nice, two consistent words have been education

Is that all?

As we all know the hausa and igbos are good in trade and farming that's why those two usually work together

The hausas are good in farming plus their large farm lands adding to their advantage that's why they can determine the price of food just by the click of their fingers.

The igbos being good in commerce and economics duely establishing themselves in the import and export department and have made no fear to be proud about it.

But I am running on few words to describe the generality of what Yorubas line of work are, and not to forget also the IJaws.

This is a thread for them to tell the world their expertise and be proud of it, also to rub it in the faces of other tribes

obaaderemi:
I like the Obi movement but he goofed here. And I don't understand why his supporters are defending nonsense.

You have to divide by the official rate of #460 and that gives you $30bn+.

If you export your goods, you deal with banks to get your money paid in forex. Will the bank give you your money at the black Market rate of #650? Reason well nah. Not everything is politics and tribalism.

Oga banks don't give dollars again I don go banks and they have removed forex access to individuals so dollars are being bought and sold on the black market and that is what's being used phone parts etc are bought with black market rate.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

Abeg o that phone wey you get how much wey you think say the importers dey give the dollar rate
You forget say CBN ban banks from exchanging forex so no one is compelled to use official rate?
Fertilizer sells at the black market rate so everything being imported uses aboki rate abi aboki, hausas no be Nigerians again?

NBS didn't give that stat in dollar currency oga

Aldol:
So you are no longer Pitying Obi

He never supported Obi!
He is just trying to use Obi's Popularity nothing else
See the pics below

isaacasak:
Mine was I got the phone from them and the fone was later stolen on the island and the company now started disturbing and calling that in should pay with interest ,moo floor fun won those ppls can call sha ,I just finished paying off and they are still calling for their interest again .Shi Shi dem no go see .I rest my case

Chai sorry this is painful, paying for what you did not use

Modphase:


Where is the link ?

I'm sorry the link is embedded I would pull it out

Here it is


https://www.youtube.com/watch?v=PQ742rN_kuo

That was very creative

It's unfortunate that people would go through the lengths of hiding such a thing for reasons I don't know.

Here is a video that was shared about 6 months ago before Obi joined Labour Party


https://www.youtube.com/watch?v=anKu86UoLZ4

What got me laffing was that he packed his food and wrapped it like jumia or waybill package that he will eat in a funeral he was about to attend

owagbeba:


Hi James, I am writing this as a morale boost for your effort. I know you are frustrated when you read posts from people who are so deranged in view of Nigerian issues. I wish I had the energy at this age to follow up the crazies on NL who are paid trolls and the not-so-bright folks who view Nigeria as a stomach infrastructure project.

A lot of us read these comments but are so turned off to comment because they are just too many kids on NL Who are so quick to show grass ignorance on matters. It’s frustrating fending ‘em off. I wish I had your energy.

Thanks for fighting ignorance on this platform, and educating those willing to learn. Thanks

Thanks though I'll try my best but it's disheartening because this sort of effort was put into enlightening people in 2015 but it fell on deaf ears and I am scared 2015 is happening all over again.

femisplash:

You're getting it wrong. I included the screenshot to follow up my point on his cheap falsehoods. At the time Obi granted a recent interview, he claimed the investment was valued at $100million but upon investigation, it was discovered it was only worth $5.38million. So, where did he get his $100million from?
The value in naira increased by what %?, by the way, the investment was in $. What's the stock performance?

I would go and look for that interview where you said his investment is 100 million if you have the link save me the stress because since I started to hear this story I haven't seen a video confirming that peter obi said that.

On the note of the investment currency is the dollar our national currency? That Money was in naira and the investment was done via the Nigerians stock exchange which trades the naira against other stocks. So I don't understand what you mean by the investment is in dollars?
Naija no dey print dollars it was only converted.

The fund the bank is in charge of, was in dollars while the investment were in naira.

Modified:

You made me go searching the internet for videos and I have watched a video of more than 30mins in length and peter obi did not say that the investment was worth more than 100m

It was an overzealous supporter that made that claim from an alleged post by Soludo, and Soludo came out to deny such post also, the records show that Peter Obi never made such claims.

Seriously I am tired.

People only want to see the bad sides of people because that is how they were brought up for they don't believe anyone could be genuinely sincere and unfortunately peter obi don't have the evil dey are looking for so their best efforts are to twist words, narratives and events to suit their ego and deceive the gullible.

Unfortunately this is how we will end up with another disaster.
I will do the best I can because I can't convince everybody.
I saw the disaster in 2015 and made warnings of the mistake to be made but I was ignored.

Meanwhile everybody eye go clear again cause when Tinubu wins I will still be here glancing through as the wailing continues.

femisplash:

What is this bullshit got to do with the topic at hand?. Do you have the brain to interpret the bank statement?
Bank statement only reveals inflows and outflows, it does not represents the financial position or strength of a state or organization.
What are we supposed to do with a handover note. Why can't you ask him to mandate the accountant general to publish the books of the state during his tenure.
Folks like you are the gullibles that are easily carried away by lies and cheap propaganda.
Typical Obidient supporters with all insults like a garage mannequin without brains.

Don't you see that the value in naira increased but the value in dollar decreased?
Whose fault is that exactly? That investment is in profit my dear I am a currency market trader and the difference tells you that investment increased in value. At that rate there is over 250m profit in naira for goodness sake.

I don't just understand why you all want to twist the narrative.

femisplash:

Go back and listen to Obiano's clarification. Obiano stated that Obi gave a bloated figure. Obi whether intentionally or not, had converted some assets value, land value as well as investment from an IPP project into cash estimates in arriving at 75 billion naira. Whereas the cash in hand was not worth 75billion.
Read here for clarity;
https://www.nairaland.com/4124098/peter-obi-left-me-n127bn

He didn't give a bloated figure I watched the videos and the clarifications where clear the document enlisted the account number where the monies where and how much left.

The money in cash was about 49bn while investment amounted to about 26bn.

Hold up let me get the video from channels tv.

Here is the link to d first part in the interview you can get the second one if that doesn't sync

GodsOwnMan:


What is their explanation for inviting Peter Obi who ordered Anambra SARS to massacre 5000 Ibo yoots? Yeye dey smell

Maybe I should be gathering links for the purpose of this kinda comments because it is becoming tiringi if you remember James Nwafor himself said it in October that peter Obi had no knowledge of those events and obi was not the controller or commander of the Federal police and SARS why it is called Federal SARS (FSARS) he has no powers there.

sonofthunder:




Access Bank was stating an investment of $49million and value of $47million right?

Correct where wrong please


So how much did he invest and how much did he profit??

From what I read and understood is that the investment is for a 7 year tenure with 7% interest per year in the various banks managing the fund via the forex trading (the banks are the ones trading with the money and they will remit @least 7% as profit to the state coffers every year and it will run for 7years and the next profit comes 42 months after the letter was typed by that January.

The profit or loss will be determined after the 7year expiry which the letter didn't Identify.

I hope I didn't confuse you.