₦airaland Forum

OhBritannia:
BFM (Black mafia family) is a nice drug show.

One the best black movie series I've seen ... I just finished season 2 episode 10... pls any info on new releases.... I'm a die hard fan of big meech (BMF)

Thegamingorca:
What you don't realize is that your money is still worth that same amount in dollars. You have not gained anything by converting to usdt other than saving the value of your money at the point of exchange. The naira continues to be worthless and the moment you change it back to naira, you will only get the equivalent of the naira you exchanged for the US dollar at the time of your purchase all those years ago

I'm tired of explaining and talking to that dude...once he converts back to naira ... the money is still worthless coz of inflation self

Favour231:
Sir please I beg you in name of Almighty GOD my name is Angela and is the same name on my account name, please check for yourself and see it sir pls. Favour is my baby's name sir. Pls find it in your heart to assist us pls sir. God bless

I no get shi shi self... only that I don't have the moral to come online and beg strangers for money like you doing.

How you buying your data anyways , voz I know data is now expensive... or does nairaland have free mode I'm not aware of

Sportybet is far better than forex...at least if I'm losing my money on sportvet , I can tell why because the team I picked to win didn't win and I can watch on tv


But you see all these forex and crypto... you can't even determine what makes you lose money or gain

This one think say OBO nor get Job , so Davido go just sit for house dey watch Big brother naija shey.

Mad woman !

Favour231:
please guys, please I've tried to get little help here to no avail, please I beg you in the name of Almighty GOD pls, If any good samaritan can please help me, no matter how little so we can buy foodstuff and cook, I will be very happy. my daughter and I we are starving. Please help us the last time we ate a good food was from our neighbor on  sunday. Since then we have surviving on drinking garri since Monday and the garri we use to have hope has finished. the little money I have I used it to pay for house rent so that we can at least have roof over our head. am pleading for help please, not for my sake but for my daughter please am a single mother. No matter how little it will go a long way to help us. Almighty God bless you

Acct num with faith

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G.TBank

My name is Angela. Almighty God bless you and your family

Your id name is favour
Your acct name is faith
Lastly your name is Angela

Favour faith Angela .... hmmmm

Na all these kind wahala dey make labour party people move to APC , to avoid all these court issues now and then...

Coz we all know under APC , you are almost certain to get favours from judges .

askarachi:
My guess is you’re a salary earner because this is how they think. How can you “store” money ? 😂 You will save and you will spend. You can’t keep cash away for that long

Asin ehn... I just dey laff... like they dont have expenses to make or what ....

How can somebody store cash since 2011 till date and leave it untouched ..lmao

Somebody said he saved in dollars back in 2013 (950k naira) ... now he withdrew the money in 2023 (4.4mill naira)

So , he took 10 good years to gain profit of 3 million naira... 10 yrs to make 3 mill doesn't sound impressive self to me

Plus, I can bet you , whatever you planned to buy 2013 be it car or anything, by 2023 when you withdraw your money, INFLATION will be waiting for you

My frnd in uni bought Lexus rx350 suv in 2014 2.7 mill, even if he had saved that money in dollars to make 3 mill profit ..today that same car cost 6.6 million naira.

IbeOkehie:
The point is that it's better and more advantageous to save in USD than to save in naira. It's not just good, it's brilliant!

A 50kg bag of rice in 2011 was about N35K.

Let's suppose you had N35K and converted it to dollar back then and saved it in a dom account. Imagine another person also had N35K and saved it as naira at the same time.

Which of you will be able to afford a bag of rice in Nigeria today with those savings? So the EFFECT of saving in dollars is that retains value and thus provides more spending power.

I don't understand why Nigerians like arguing over issues that are very clear. Very off putting. Have a good night though.

Good Luck to Nigerians!

Save in dollars
Save in dollars
Save in dollars

I'm telling you , to even save in naira is hard already... CBN once released a statistics one time that says About less than 3% of Nigeria population have above 500k in dia savings account ... meaning alot of NIGERIANS don't even have up to 500,000 naira in dia bank account.

Earning in dollars is one good thing thou, but you see earning in naira and buying dollars to save in Dom acct every now and then isnt easy.

Billings won't let you save in peace , expenses here and there , further more , I will still say it again , that little money you save in dollars doesn't have much impact coz of inflation.

dreamxhaser:
Saving in dollars is not bad but still won't have much positive effect.

The best is to earn in dollars. That way, you don't have to bother about inflation, because as the dollar rises, so does the value of your earnings.

In reality, nothing increased, you were just immune to the inflation.

You guys sound this thing like it easy as ABC...

Less than 1% of our population earn in dollars, less than 1%

VeeVeeMyLuv:
Bro It is well, look up, God will provide.

Yeah I get your and I agree with you.

So the precedence of importance will be like this:

Saving/investment in Naira < saving/investing in Forex < earning $/other forex

Na naija we dey, it even hard for some people to save in naira self ...lmao

Wahala and issues nor dey finish, billing here and dere no dey even make person save in Naira in peace talkless of saving in dollars

Anyways, I get your point.

hardon1:
Na lie ,
Saving in dollars prepares you better for the inflation, because your dollar savings will increase as the inflation increases

Whereas in naira, your earning remains stagnant with rising inflation, especially if you are a salary earner; Unless you get a salary raise, else you get poorer

It might not affect biz owners as much as salary earners because biz owners increase price in line with how they bought while maintening same profit margin. The only way it will affect them is decrease in sales due to low patronage

That's why salary earners get hit hardest during soaring inflation like we have in naija today

Go thru my posts , I've said this already about business owners vs salary earners.

nedekid:
Poorer, poorer we are getting.
Even if you have 20m, you even feel it more. That money wount be 20m in the next 1 week! Besides only a crazy person will have that much cash and keep it in Naira.
2019 just before covid. 2m got me 2k pounds and $3k which I put in dom acct.
Today, that 2m cannot get me $2k.
6 months ago, I was broke, withdrew 2k and got ₦1,450,000. One and a half months ago I needed to complete sch fees for my ward, withdrew 2k and it gave me, ₦1,840,000. Today if I withdraw that same 2k it will give me ₦2,200,000! No be juju be that?
These apc characters are turning us to Zimbabwe, difference is that they were on sanctions Nigerians are not.

True... but my point is ... I can tell you one million and one commodities price that changed from 2019 to 2023.

2019 is even far ... price of some commodities just last year self , I know schools that have increased school fees by almost 100% , just from last year.

No matter how you put it, inflation will not let you really enjoy ... I'm not saying it not good to save in dollars... but the effect , I dont see much coz price of food or other important commodities will go up

Update; I just got a circular from my landlord, rent has been adjusted , taking effect from December.

VeeVeeMyLuv:
It is not inflation, it is astronomic devaluation of naira under APC REGIME since 2015. These guys have continued to do bad job. Coupled with the fact that earning power was deliberately maintained at same level since 2015 levels. Had it been it went up across board, people would have still been able to conveniently afford as it was in 2015.

Not a fan of APC one bit

But truth be told, inflation thing is worldwide , just that Nigeria own is bad

C.Ronaldo was the most expensive player on earth when real Madrid bought him from united , I think 85million...

Today as we speak, even average players like mason mount or even some goalkeepers cost over 100 million ... remember Ronaldo was the best player at that time Madrid bought him.

Inflation is the reason why average players cost that amount, things have gone up

Thou Nigeria own is bad

VeeVeeMyLuv:
The only way to check this is if earning power is increased in the same manner the devaluation occurred. That way you won't feel the impact and you will be able to afford it.

But the plan this APC govt have for those earning naira is to maintain the status quo as regards the earning power.

So even if Naira continued crashing to say N100,000 to $1, APC govt will make sure the person that was collecting N50,000 per month salary in 2017 will continue to collect same amount even if Naira gets devalued to N100,000 to $1. That time rice will N500,000 per bag. Now imagine the catastrophic disaster such plan will cause.

This hardship currently being experienced is just a tip of the iceberg to what is coming.


Those people earning Forex are fully covered.

Those earning naira, no matter your position or level in society, sorry for you remember I said earning not embezzling or Looting.

Business owners can still manage , important commodities like food , shelter will just adjust dia price

Landlord go increase him rent to keep floating etc

Salary earners , I don't have an idea

Yea... people earning in dollars here will also enjoy

VeeVeeMyLuv:
The only way to check this is if earning power is increased in the same manner the devaluation occurred. That way you won't feel the impact and you will be able to afford it.

But the plan this APC govt have for those earning naira is to maintain the status quo as regards the earning power.

So even if Naira continued crashing to say N100,000 to $1, APC govt will make sure the person that was collecting N50,000 per month salary in 2017 will continue to collect same amount even if Naira gets devalued to N100,000 to $1. That time rice will N500,000 per bag. Now imagine the catastrophic disaster such plan will cause.

This hardship currently being experienced is just a tip of the iceberg to what is coming.

Valid point .

I've never been a fan of salary anyways, I prefer business coz it just to easy to adjust your price of your commodity or service you rendering once there's inflation.

I don't really put in picture or have an idea of how salary earners do cope...but for business people , all man go just adjust dia price and keep floating

I'm a gamer ... the price of PS4 console still remains the biggest example I can use , still remains a mystery to me

How something that was 70k just 2015 is now 200k plus

Normally, the price should even come down since it an old console but for where.

Inflation will not still let you enjoy that small money you save in dollars... except you putting something really huge.

tete7000:
At least relative to time in question, the buying power of your money remains the same, it doesn't depreciate.

Except you are saving huge amount of money like 20million or something... you can really feel the diff .

Trust me , no matter how you save , be it in dollars , naira ,,or yen

High cost of living will not let you rest.
Now now , as we speak indomie is now 250 (super pack)... something I used to buy 150 just last year o!

Cant remember when last I had sardine since it left the price of 250 (2016) and jumped to 750 (2023)

Inflation! Inflation!! Inflation!!! Will not let you rest one bit .

BannedUser:
You have not said the part where, by saving in dollars, he now has ₦5.5m instead of ₦950,00

2014 - 2023 is about 9 years .

Bro, this might sound somehow , but 9years to make 4.4mill is a bit somehow in my ears

Secondly, there is a Lexus my friend in uni bought back then Lexus rx350 SUV silver color... I'm not kidding you ... he bought that car for 2.7 million...(2013)

Fast forward today, we recently priced that car... it goes for 6.4 million...

See , inflation is the main problem here.

pendusky:
Jesu...

So, someone actually in 2014 advised me to buy dollars and store... that if Buhari win dollar will double...

I didn't want to take that risk, Buhari that was promising us 1N/$, then in GEJ era it was 180-190/$ that's about N18k/100$

The guy took loan, buy more than 5,000 dollars and store in his account...

Last time I heard from the guy, he was on his way out of the country.

If you have money, buy dollar and store, in 2years, dollar will reach N3,000/$

Does it still matter much... coz inflation will still chop that money.... lemme give you a quick example

In 2017, we used to buy PS4 console for 75k\85k... even if I had saved in dollars then... if I want to buy that PS4 today , it cost almost triple now self ,some sell for 200k plus

So what exactly did I gain... nothing much
So if dollar get to 3000 per dollar, expect the cost of things to triple also

Angel55555:
Please, how much did you pay for the pads ?

19k each.. depends on your location and your bargaining power... some sellers like to quote 25k first .

nibacked:
is it hacked

Yes.

Wizzoe360:
EAFC 24 on Ps4

You play online ?

miclef86:
Where's your location pls

Owerri

Slynation:
Did you see her driving the car?? Perhaps it was someone that drove it to her crib, there is no evidence she owns the car...!!

Na so , white money snap with Maybach...dem say whitemoney don buy maybach of 300 million naira...

How much did whitemoney make from his music "selense"... Nigerians believe anything they see on social media

Audio mansion ! Audio mansion !! Audio mansion !!!

Yet some gullible people will still believe...lmao

Justinchukwu1:
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