1000Capacity:
■ Remain concerned in Jesus name

I 'll pass!

theredaddy:
■God is behind the truth sayer, go to NL front page the post best explain what i have been rambling about that you refuse to see https://www.nairaland.com/8071766/2.1bn-reserve-depletion-cbn-sold
The fact that parallel market sold below the official rate invalidate your speculation cardoso defended the naira, as a matter of fact total intervention to the market stands at $661m minus it from $2.16bn is that what really depleted the reserve Go n read it

What the heck is this one rambling about now and worse dragging God down in the muck as well? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

1000Capacity:
■ It took you a while to get back at me. Good revenge

That you could not even tell even now how unsound that gunk you spun is leaves me concerned.

1000Capacity:
■ Hahahaha hah. Atleast I told you mine. Whats yours?

I don't have one but at least I don't have any of that Dingleberry reasoning going on up there. 🤔🤔🤔

1000Capacity:
■ UniLag. What about you?

Thank you! Unilag is officially off-limits for anyone I have good intentions for. CHEEEZUSSS!

IfnobeGod20:
■ Tinubu never built more than 4 millennium schools in all his 8 years, he didn't add any structure to the existing ones in any school but he renovated some. This can be fact checked through Google. Again, Lagos local government allocation was withheld between 2004 - 2007 (you can fact check this is google too) but the news of non payment of teachers says 2003. Stop lying, withheld allocation should not have affected non payment of teachers allowance or increment in salary.

Yikes!

1000Capacity:
It's not the government.
The women go to the farm to buy Cassava. The farmer tells the women "dollar has increased" so he won't be selling Pickup truck @110,000
He will sell Cassava pickup @130,000. That is a #20000 increment on the old price. The women decide to buy it like that since they have no option, they fry the Gari and sell it to retailers. The retailers are surprised about the price the women are selling Gari in bulk..
They decide to buy it like that since they have no option.
They then decided to add the cost of shop, transportation, feeding, children school fees, security expenses and others bills on the cost of garri
It's the people themselves and not the government. Nigerian government is not regulating the price of foodstuffs. The people themselves control it

Which school you attend so I make certain no one I know ever ends up that side.

Fearyourcreator:
■ So it even went downlike this under Jona

It is OK for it to go down as long as the money is being invested in infrastructure, industry and amenities that are to enable the country to thrive better en mass. I am not saying Jonathan used it well but a lot of people are instead against the Government flushing money down the drain to prop up the Naira all so Dangote can "save the day" and become a trillionaire (while your politicians equally benefit their pockets by it).

iLoveYouToo:
■ I hear you sir, chief economist. Garri is processed at Obubra on a massive scale, do you know the distance from Obubra to Calabar? Does that justify the price? Why is Garri cheaper in Lagos? Na we dey do ourselves, yet we keep justifying shit

Because Obubra to Calabar is closer than Calabar to Lagos, you reason, rather naively, that should equally mean garri should be cheaper in Calabar than in Lagos?🤣🤣🤣🤣🤣🤣

theredaddy:
■From the context of the News is it not clear enough that it was the debt settlement that mainly depleted the Reserves ... How is clearing our backlogs tantamount to the fighting merely involved pouring down Billions of Dollar reserves down the toilet .. make it make sense

What the heck? Are you paying attention at all?

The news which you was from over a month — before the recent depletion took place. At that point when the backlogs were announced paid off, the reserves were $34.1 Billion. Compare that to where it is today at almost $31 Billion. As yourself what happened?

Over the period that was March 16th through April 19th, the CBN has equally claimed to have been fighting for the value of the Naira. And as you can see, that fight cost Nigerians at least $2.1 Billion over that period. If you compare that with the rate around that period, you get the picture of what most likely happened.

1000Capacity:
■ Kobo economics

It is simple economics. If you have ever in fact done business yourself, you would know this.

iLoveYouToo:
Is it the government that fixes the price if Garri? Abi dey import cassava now?

Use your head for Pete's sake! Cost to harvest, process, transport, and even market those farm goods, even store them, are not paid for with stones. They are paid for with currency and right now your government was caught diddling with the value of that very currency. This na business 101 which every Nigerian ought to have realized by now.

theredaddy:
■ It was very convenient for you to save face, by picking on the "insufficient funds" i might well ask you what is "down the toilet" Since you are so sure CBN was using reserve to strengthen the Naira why not show us figures to back up your assertion Cardoso made two moves, one was to clear backlogs and the other requires handing register BDC operators $10k ? You guyz deliberately ignore the backlogs settlement took much of our reserve, cos that won't generate backlash
Emiefele defended Naira with our reserves and we saw a wide difference btwn official rate and parallel market, but in cardose case parallel market sold below official rate so how is that " defending "

You are still rambling cause I don't know why you are jumping all over the place!

As for the backlogs, the CBN announced on March 21st that it had all been cleared. And as at that point, the Reserves were still at $34.1 billion. So what has that to do with this conversation?
CBN Settles All FX Backlog, Reserves Hits $34.1BN

https://www.youtube.com/watch?v=cY9Wum6Ly1k?si=VVblIKx_AHyGXfzH

Truths9ja:
Islam and Catholics come from the same place — Actor Pete Edochie

They are both religious systems designed as a form of Government allowing ordinary men to rule as gods over their fellow men, many at times, by pretending a connection exists between the man at the top of the hierarchy and a higher deity.

vastolord4:
■ That 3 wraps of fufu will not be enough for a 7 uear old.. its like kids now consume more than ever

Anxiety can do that to even kids.

Ijaya123:
■ And that the failure you voted for. Are you not ashamed?

I see you are just an eejit!

Ijaya123:
■ I did not vote for any nonsense. This is the failure loads of you voted for.

Are you not ashamed of posting items from over 12 years ago in defense of what is happening right now? Have you no ability to reason your own existence as it presents itself today?

oneda:
■ Last week, A man came from one of the villages to sale garri in Akpan Andem market Uyo. He was selling 3 cups for #500 and he was arrested by those garri sellers in the market. Akwa ibom have it so bad. There's a union for even vegetable and pepper sellers.

Does it cost them all the same amount to harvest, process, transport, and sell their wares? Why should he have been arrested, and by whom?

Krankhead:
What does cassava has to do with Dollar again? Why is it expensive?

Harvesting, processing, transportation, market costs.... all are paid for with money and not stones.

theredaddy:
■ I think it time we Fact check these lame arguement, can you please post the total sum central bank as hand out to parallel market and lets compare with total sum use to clear backlogs .. lets see the % difference. Una go just dey argue blindly how BDC operators don collect wey una dey shout insufficient fund. Please post it, it as of one is just arguing with BOT

What in the world are you rambling on about now? What insufficient funds? BDC operators? I am the one who ought to be worried I maybe yapping with a mindless BOT at this point.

Kaptainkoko:
■ A Congo (10 cups) in akure ondo state is #1,200. Bought it there last week. I nearly cry hearing such price.

Please be more specific! Where exactly? Name the town/village, zip code, market

Dundalk:
Rubber paint is #2800
Lagos

Where exactly? Name the town/village, zip code, market

1000Capacity:
Abeokuta

Where exactly? Name the town, village zip code, market, etc.

longetivity:
It's 300 here in lagos.

Where exactly? Name the town/village/zip code, market

1000Capacity:
1 bowl is 1300 now. I bought it on Sunday

Where exactly. Name the town/village/zip code, market

ozo13:
When you see some people speak how happy they are the naira is loosing it value against the Dollars u will weep for Nigeria.
Factors involve include greed, some of there candidate lost election and so they prefer the Nigeria get it wrong for them to prove a point.
I don't know if this is the way it is done in advance economies.

You are kidding, right? Your politicians are purchasing houses and paying school fees in dollars. DO you think they are concerned for your sake?

helinues:
How about the debts we serviced?All this pokenosers self. The government never said they defended Naira

It never did But as soon as the Government eased off the reserves, the value of the same Naira began to plummet again...Interesting, right! The value of the Naira has already fallen back to where it was on April 5th as we speak.

EmeeNaka:
What are these external debts?
Are they the loans that Buhari embezzled?

Which loans? Which debts? HA HA!

Vincenzomum:
■ He doesn't even call to know about his children welfare I know I am lucky to be abroad I work and my children don't lack anything. They will grow up fine and become useful in the world by God's grace. I know the struggle would have been worst in Africa raising 5 children alone I wouldn't have been able to do it alone that's why I am thankful to be abroad but I am still heartbroken by his action. I am totally depressed sometime I feel like given up but I have to be strong for my children.
■ My advice to Nigerian men abroad please please I beg you in the name of God if you are not ready to be with foreigners do not date or marry them with false hope then to abadoned them later. Remember you have sisters and daughters too.

The good news is that you are not in Africa. So, thank your stars for that! The other good news is the man is still not in Africa cause that means you can still demand support for your kids. So, wake up and begin divorce proceedings or whatever else you want to ensure he pays support for the kids with you. Ensure that he does not get away with even a single payment. You had the kids with him so it is equally your responsibility to ensure those kids are taken care of by you. Get yourself therapy if you need it as you need to be very strong for your kids at this point. Remember, they too lost the one they believed was father only to them.

2. LOL...There's no point trying to advise a pig not to live as or be a pig!

theredaddy:
■ If you can open your eye to see,all these epistle is unnecessary who is telling you to hope ? i stand is as Naira is fighting to regain value those thinking it will reflect instantly on prices of goods should exercise patients, bad travel on the speeed of 6G yle good roll on GPRS ...
■ The difference between the era of past leaders and the present is the revolution of refineries we are witnessing ... dangote refinery and its relieving impact on our import deficit and dollar demand is a valid HOPE Price of diesel is at how much now, 2 x reduction just within two weeks, if thats not HOPE what do you call it

Up until April 19th when the Naira began to take a plunge in the other direction, the fighting merely involved pouring down Billions of Dollar reserves down the toilet. After Nigerians discovered what the Government had been doing in the name of fighting to get back the value of the Naira, they took their hands off the reserves, and in less than a week, the Naira has fallen back to where it was around April 5th. That is to show you the maga-maga that was going on. However, you choosing to stay blind to it, is your problem entirely.

2. An entire current of over 220 million people and their only hope in the year 2024, is in one man and his cooperation, Dangote? You no cringe at all when you dey type that thing?

theredaddy:
■You right english so well yet you sounded outrightly like an illiterate Despite all the explanations written on line, appreciation of naira can only reflect overtime una still det spew rubbish. I think most you just hide behind the market prices to vomit una wicked thoughts, you people never wish the country get better. those wishing the economic to fall, whatever there gain is naa on top terminal sickness dem go dey spend am, there loved ones no go ever dey alright

Wish ke?

aswani:
Chai, Obidients don jam, ẹhn hẹn see as dem dey put food for kobojunkie mout for dis thread. Persin wey like argument die bifor wey siddon put jẹjẹ for Romance and Religion section ńa im una bring come here, Obidients una own don finish from today. Mark my words, Obidients allowing kobojunkie to enter politics section and engaging her in discussion is a game changer for them on Nairaland. Na una gó first tire, make una siddon dey look.

From where I sit, you and your so-called Obidients are all cut from the very same cloth, the major problem with Nigerians in politics.