₦airaland Forum

Gpdwise:
its not as if the participant of mmm do not know the risk involved in investing on mmm. CNN made it known this week that the rate of poverty in Nigeria has dropped by 20% due to mmm.let's be frank, all mmm participant know that mmm is ponzi scheme and are willing to invest all they have and even borrow money to invest even when it is written on the site that one should only use there spare money. who do we blame for the popularity of this scheme is it our bank that gives us an interest of4% in deposits made and charges an interest of 27% on loans.I am a nigerian and I can't understand why our federal government or even state government haven't keyed into a scheme like mmm for its citizen to eradicate poverty.If Nigeria as a country is serious about eradicating poverty! the use of its population strength should be its goal do so and networking should be one of its core area of concentration.imagine a Lagos state sets up something like mmm using both bvn, mobile phone number, email and have a bench mark of not investing more than 200,000 naira.tell me do you think such system won't be sustained.its Nigeria finally and corruption is our middle name!!! but am certain mmm should serve as an eye opener to our government.

Airforce1:
if he had succeeded in stealing those phones , instagram and twitter no go rest

this is an eye opener to all the thirsty Naija girls out there that not all that glitters is gold.


may that dude that stole my phone last Saturday night never know peace.

KinSlayer:
step 1: lose phone
step 2: borrow phone
step 3: create thread on nairaland
step 4:......

QueenSuccubus:



Lemme tell u sumtin... If something was lost or stolen.. Don't worry abt it coz it only means, that phone wasn't meant for u to keep forever.

Besides, that's only material things..Now, u will have the best reason to get a new phone, new number

Reference:
So when he comes in with his dollars he should sell to you at 199. When he is going back he should buy from you at 380. See yourself. Can you see why those with dollars will not bring it in: individuals, companies, investors; and those who can get it at 380 will buy up as much dollars and take it out in anticipation of further falls in the naira.

We are getting to a point where 'currency trading' is becoming MORE PROFITABLE' than actual production. In 1984 Buhari did same thing. Along the line importers had to get special permits to get fx from the CBN. It led to the infamous scandals and cartels and the trading of permits became more profitable than the goods themselves similar to the fuel marketing cartels of the GEJ era.

plaetton:
Gosh!
This is both very sad and very funny.

What a piece of juvenile logic.

Can someone please inform Buhari that the Naira is already devalued by the market forces of demand and supply?

What Buhari is insisting is that his government will continue to SUBSIDIZE Forex purchases by banks, government agencies and few corporate Enterprises at the expense of everyone else in Nigeria.

This is a very very foolish and imprudent way to manage the supposedly scare foreign exchange.

This is what we get when we put an economic illiterate in charge.

First of all, someone should please educate Buhari that Nigeria still makes a few billion dollars from non-oil exports.

But ,most importantly, if Products and services are cheaper by virtue of exchange rate, then international buyers would come looking for our natural resource based goods as well as services.

Already, Nigerians of every economic class have started looking for items, agricultural or locally manufactured, to export.

Additionally, it is the only way to curb our appetite for imported products, and force us to look locally for our basic necessities.

Buhari is delusional. He doesn't understand economics.
The Naira cannot defy gravity indefinitely.

Daahhhh!!

onatisi:
Thank you. Devaluation of the naira would have had positive impact on the economy if it was done early or middle if last year in addition to the several measures taken by the smart intelligent cbn gov,but what we had was a president who his party claimed was on political honeymoon and was busy globetrotting all over the world. Hr wasted 7 solid months before finally choosing an economic team by which the matter had gone out of control and hand ,now the devaluation of the currency is meaningless and senseless because the currency has been devalued already and the gap between the official rate and black market rate is too wide . Nigerians will suffer a lot for this but maybe in the next 5 years things will turn around or just like u said a miracle happens in the middle east. Lets pray Saudi,Iran,Iraq and Russia all go to war on the same day

Iroh88:
Abi oo!! They are just trying to force Baba to pull the trigger while the barrell of the gun is pointed at his head, feigning genuine patriotism.

I think this should settle it. If no one likes this position Baba has taken, they should approach the supreme court- at least they have judges sympathetic to them there.

Baba says his three major objectives are:

1. Securing the country.

2. Reviving the economy.

3. Stamping out corruption.

I love this man!

kennyman2000:
ohh boy. But, its been devalued already naaaw

UrbanMystique:
Exactly..


Dumb wailers want our naira devalued, so when we start buying toothpick that costs 10 naira at the rate of 100 naira, then come back and tell us that voted change I TOLD YOU SO.

They want to turn us to Zimbabwe where a loaf of bread costs 1 billion.

Why would any right thinking person think devaluing naira is what we need right now is beyond me. A mono economy like nigeria.

China or USA can decide to devalue naira and benefit immensely from it. Afterall, They are major exporting nations. A single sector can buy some countries in Africa.

Google or apple alone is far richer than some countries in Africa. Not to talk of Disney land, Hollywood or other sectors.
Unlike Nigeria where everything is oyel, and the oyel is even becoming valueless.

RichYoungNigger:
Please.
Don't devalue the naira.
I want $1 to be 2,000 naira.
I've been busting my ass working in the USA just to be very rich in Nigeria.
Some people hate the fall of naira but that's what Nigerians living in the USA pray for.
When i come back to Nigeria with $25,000, do you know how much i will exchange it for ??


I will worship you forever if you don't devalue the naira.
Buhari is the only person i love in this world and i hope he rules Nigeria for 90 years

DonBobes:
Let dem keep wailing, we will not devalue the Naira!
Gbam!!!

GAZZUZZ:
Village people involved. Solution. MFM.


What vehicle? Engine size? Repair history? Any a.c concerns apart from what you explained above?.

Personally I do not think there is anything wrong with your vehicle. Manual compressors are not meant to be perpetually, when cabin temp attains set temperature compressor is deactivated. Until temp goes higher again.

dorofresh:
You couldn't have put it better sir!

The real purpose of governance is lost on these people.

The government of the day is toying with the collective resolve of Nigerians. GEJ was more popular than this, yet Nigerians rose to the occasion when it mattered most.

Now that we are aware that it is possible to remove an under performing Govt. Watch and see how "we go change am for this fake APC CHANGE Merchants

Yeye the smell.......

DeZoro:
Dear Nairalanders I write this post all the way from Guangzhou, China. I am on a 14 day business trip to China as this is my first time to come here.

I was in Zone 4 in Abuja Sheraton to change the naira to the dollar as I was very happy that USD niw sell for 400 naira but to my suprise I had none to buy at that rate. all the mallam keep on saying they have no USD. to my surprise, some set came and said they have but its 465. hence I just have a day to Board to China, I had no choice.

I got to China and my invitee came to the airport to pick me and my friend that came. we went to a place to change USD to the RMB, to my surprise, it was change for 1 USD to 6.57 RMB. meaning 1Rmb is like 57 naira if not more.

buying things has become too expensive and our currency has become porous. Nigeria currency is worthless and useless to any foreign nation. oh, see how the Chinese respect and treat us like God because they need to do business with us.

their infrastructure is superb, well planned and organise. Vehicle here are brand new and no form of "Molue" bus as we see in Lagos. I saw an electric bus and as I am on my way to Shanghai now, I never for once emcountered pot holes.

oh God, when ll my country be like and our leader be patriotic to do the right time. oh God.... I WEEP for my country! awake our currency!

BeeBeeOoh:
There are at times u go wail so tey u go taya..



Back then, early 2015..

Jesusloveyou:
if not for the buhari policy, it would be 1000naira to a dollars.
By next year with less importation and less demand for dollars, it will come down to 200 naira to a dollar

omotroyz:
and who fed Google with the information it gives to u?

Lilimax:
What did you just say?

OLUWAFUNMISE:
God bless Mavrodi. Many people will regret not registering with MMM. If it crashes today lots of business will raise tomorrow. If all you waiting for is MMM crashing, you are wasting time. Long live MMM

Lilimax:
Oshi gini?

salbis:
This post of wisdom crowned my fruitful day. Thank you sir, God bless.