₦airaland Forum

1Alex:
The report did not say Sabmiller is the highest, it says that Sabmiller is the highest indigenous tax-payer. Others mentioned are not indigenous to Anambra.

What you don’t know is that, from the ownership structure, the banks are more indigenous than SABMiller—International Breweries, because we know, for example, that the man with the major stakes in First Bank is Nigerian. Can you tell us who’s the major stake in IB and where the entity is from? All these are publicly available information.

mrvitalis:
But it's the highest paying local company in Anambra
Fidelity is still linked to who? Obi?

How exactly is it a local company?

immaculatesense:
You people cannot predict TINUBU GAMEPLAN.
Let me give you hint then connect the dots.
Abure, LP, Wike, PDP, North East, South East, Votes, Divide, Atiku, Obi, ADC.
Full Stop.
If you can connect the dots then you know the game plan. If you want to argue, no need, I give up, you win.
Thanks.

Abeg decode this formula: Abure, LP, Wike, PDP, North East, South East, Votes, Divide, Atiku, Obi, ADC.

PlasmaTV:
I deeply respect the MOG, but I strongly differ.

In 2 years, Tinubu has wrecked so much havoc on the economy while living lavishly and traipsing the globe purposelessly.

In two years, he has:
- Removed petrol subsidy
- Removed electricity subsidy and introduced Band A/P/C
- Rate of terrorism has skyrocketed
- Bought a yatch
- Bought a plane
- Renovated VPs apartment for billions of naira while Nigerians are suffering
- Tried to placate us by saying he'd implement Orosanya but no show
- Extended a girl's NYSC stay because she criticized the government

Do you have any data points to support the claim that insecurity has significantly increased?

I don’t think Obi should be there—it might send the wrong message since he’s a Christian. There are plenty of other days he could choose to visit instead.

bammyllonaire:
Let's break it down step by step:

1. Men:

There are 7 men


2. Wives:

Each man has 1 wife

So, 7 men × 1 wife = 7 wives


3. Children:

Each man and his wife have 7 children

So 7 couples × 7 children = 49 children



---

Now, add them up:

Men = 7

Wives = 7

Children = 49


Total people = 7 + 7 + 49 = 63

✅ Answer: 63 people

. I think this is the more likely rational answer given each couple have 7 kids each.

What resources do you believe Buhari needs but can’t access? Or do you really think Buhari can’t secure billions for his own healthcare? Come on.

Mathewrichard99:
This is a great news but come to think of it.....some few months ago, news filtered that GT Bank was going under.....na wao....Well done GTB, Atleast, there wouldn't be make believe inflated statement of accounts in UK....True Value will be reveal....

Going under, under the canopy, under the canopy of — 🎶

https://youtu.be/-86rtzTjkNQ It seems there's little immediate hope of getting the government refineries operational again.

GIFTEDPLANNERS:
The real men that have contributed to advance Lagos since 1999 are Fashola and Ambode. Tinubu didn't do anything in his time. GSM was on the table during Abacha time but was not done and OBJ picked it up and did it. Will u say it's Abacha that did it. Show me one real achievement of Tinubu infrastructure in Lagos that he started and completed

Who established LAWMA, RRS, LSSTF, LASTMA, Lagos HOMS, LASEMS, the Central Business Districts (CBDs), LAMATA, LIRS, and LASAA? Can you name any governor since Nigeria’s creation who has founded such impactful institutions that continue to add significant value today?

Yes, I support this move lets increase the tariff across board for all but we must first ensure everyone is metered- no prepaid meter no tarrif increase.

jmoore:
Maybe hundreds massacred in Benue are not human beings.

Maybe millions of people plunged into poverty by TINUBULATION are not human beings.


Inflation dey affect Dangote?

Make una rest with una yeye propaganda.

Two truths can coexist simultaneously: the massacre in Benue is a tragic event that demands everyone's collective effort to prevent its recurrence. However, this does not diminish the significance of The Great Wall of Lagos, which not only protects the country’s business district across Victoria Island but also facilitated the creation of a new city through land reclamation—continuing to attract investments to Lagos.

ebuk4real:
Lies...well nothing is impossible for BAT to get the validation he craves like mad. A failure is a failure

Come on, the data is open source—you can see that Bloomberg’s interpretation of the USD/NGN exchange rate for this year is based on their analysis. Feel free to share your own take on the year-to-date data. One thing is clear: despite volatile oil prices and a weakening US dollar, the exchange rate has remained stable.

The many benefits of full deregulation and subsidy removal are clear. Those who argue that corruption is a bigger issue than subsidy removal are missing the bigger picture. Removing subsidies is itself an effective anti-corruption strategy, as it will stop portfolio businessmen from exploiting free government funds at the expense of the masses.
This also ensures energy access at a stable price that is lower than in neighboring countries, which helps reduce the overall cost of production in Nigeria. Additionally, it eases pressure on our foreign exchange reserves. By creating real profit incentives for willing investors, subsidy removal paves the way for new investments that boost productivity and create jobs. Moreover, numerous industries are expected to emerge as a result of projects like the Dangote Petrochemical Complex.
God bless Nigeria.

DimIsaac10:
The only man wey Efcc no get anything against


Not even one case. The thing tire them self.

Do you know how many Nigerian politicians, including former governors, have never had any reason to visit the EFCC? Does that make them saints?

Godfullsam:
Wait o

Are you trying to tell me that these coalition members don't have a clear cut plan of what they want to do when they get to office?
You mean they want to grab power first before planning what to do to move the nation forward?
Take it or leave it, ADC is APC volume 2. they can't offer anything special.

First and foremost; the coalition and her supporters that don’t like critical thinking —which is why they cannot think of alternative policy solutions they largely thrive on illogical sentiments.

Zionmdde:
I love your analysis but it's totally wrong
If dangote gets subsided dollars to import and in turn sells goods cheaper, dangote will benefit Emeka will benefit. But you want Emeka to suffer the little subsidy he was benefitting because dangote uses subsidized forex to enrich himself and bribe cbn officials
Instead of calling for the sanitization of corrupt system, we rather push everybody into suffering

On the other hand, since tinubu government is now saving more, and Emeka is paying more, what can you say Emeka is currently benefitting from the arrangement, at least to cushion the pains

Fair point, but you should also consider that Dangote is capable of round-tripping any profit he earns in naira. Besides, before his refinery, which of his products was actually cheaper?
The immediate benefit to Emeka is easy access and stable rates, which make planning possible. Now, could you please clarify—do you prefer the system before the subsidy or after?

Zionmdde:
There should be a balance to everything
If people have to.pay inflated prices because of dollar inflation, they should be able to have a tangible benefit they can say it is as a result of paying more

With all these reforms and so forth, my question is still standing, what is that thing a common Nigerian is benefitting today as a result of all these reforms?
Improved power. Social amenities? Security? Ease of doing business? Reduced cost of education?
What exactly??

Let me try to make this easier to understand. When a government runs a subsidy economy like we used to, it essentially transfers money from the poor to the rich. For example, a wealthy person might need $1 million per year, while an average person like Emeka only needs $100 per year to pay for something like web hosting. However, because of the subsidy system, Emeka often ends up buying through the black market at a higher price.
Who ends up paying more? The rich, because the subsidy benefits them on a much larger scale — $1 million compared to Emeka’s $100.
The opportunity cost here is significant: the government loses revenue, which leads to poor infrastructure, inadequate education, and a lack of social services. Ironically, these are the very things that could help level the playing field for Emeka’s children in the future and improve access without a higher comparative cost in the short term such as seen here.
So, considering all this, which scenario do you prefer — the system before the subsidy or after?

Zionmdde:
Why did they suspend it in the first place? Its simple
The difference between bank rate was very large. Banks were selling 460 per dollar black market was like 550 or so.
But today dollar subsidy is gone, there will little or no difference between bank rate and black market

In summary it's still the same as buying dollar in black market, paying into your dollar account and spending with your dollar card

Funny enough you will see people who know nothing coming to sing apc praises because banks are now selling at black market rate

Alright, let’s agree that you’re right. But would you rather return to the old system or keep the current easy-access dispensation, regardless of the cost?

magoo10:
what tinubu has done or not done is the reason for the coalition.if you are downplaying it you must first explain why Nigerians shouldn't take the coalition serious.
One man is against the elite class
One man is against the middle class
One man is against the poor
Funny enough you guys pretend as if you are not on the same page with the thinking of every Nigerian out there.

It’s unrealistic to expect every Nigerian—or even most—to share your exact views. In reality, everyone prioritizes their own interests, which often differ or even conflict with yours, since interests are inherently personal and group-based.

Kukutente23:
What do you mean by you got me to use google? I've been telling you that you can't compare DAS and Bmatch since like the beginning of this convo. It is you who have insisted that they are the same. Will you accept that you were wrong and just move on instead of this infantile attempt at covering up your knowledge gap?
Again you have missed the issues. Nigeria did not transit from DAS to Bmatch. DAS was abandoned during the Buhari era for a fixed exchange rate system. It is the fixed system and its exclusionary policies that you are comparing with Bmatch. Even that comparison is simply political. The basic fault you have is that you were never acquainted with what DAS, Bmatch or any other thing were. Your aim was just to show that the present CBN is doing better than the previous one.
If you really want to compare models, you will have to go back to 2013 not 2023 or 2022. Having high turnover is not a sign of transparency. The present CBN liberalised the market by lifting fx restrictions put in place by the former guys (who again never used DAS). It is the expansion of the participants in the official Fx market that is responsible for the high turnover and not Bmatch. You need to learn a lot

Infantile arguments from someone who doesn’t grasp elementary math? You accuse me of political bias, yet your own logic ignores that DAS was never a comprehensive FX market solution — it was a tightly controlled auction with limited reach and no audit trail.

If you want to debate the technical differences, start by acknowledging the real improvements in transparency, trade volume, and market access that NFEM/BMatch have delivered since 2023.

Otherwise, stop dodging the core issues and making baseless accusations.

You clearly still have a lot to learn. The reason you refuse to answer straightforward questions is obvious — just go from Idumota to Alaba and ask traders who often spend a significant part of their business time scrambling for forex which FX regime they prefer.

Ade1177:
Trust me bro

Oyinbo will act on it

When players started collapsing on the field

They brought in rules of
1. Any contact to the head and player goes down, the game stops immediately be it fake or real
2. Any hard tackle that is deemed rekless, the opponent gets injured or not. Straight red card
3. Players now have cooling breaks in between matches
4. A player subsituted because of concoction injury doesn't count amongst the 5 allowed
5. Football became more soft, as so many little fouls that used to be overlooked in the past are now given to protect players. Although many coaches are teaching their players to exploit this rule by diving into the opponent, trying to be the last touch on the ball before any contact in the penalty box even if it is very far from goal

You’re right—too many rules can make the game less enjoyable, just like having an overbearing influence on players’ lives. But life itself is sacred; after all, only those who are alive can play the game.

Kukutente23:
Your jokes keep writing themselves. See pic below. The Ghanaian Central Bank used DAS in 1994. You're here claiming CBN developed DAS in 2002. You need to take your own advice and use google.
There are softwares that implement DAS in forex management and trading today just as Bmatch does for the willing buyer willing seller model. One of such is called Bidhome. Another is ProQsmart. Both are modularised for DAS implementation in forex trading. That is what you can compare with Bmatch instead of this misguided comparison of a software with a management system.
There's no such thing as opacity in DAS. You can't explain what you mean by transparency. Even the CBN intervenes in the forex system once the naira goes beyond a certain value to the dollar. They spent $8bn doing that in April alone this year. So where is your transparency coming from? Bmatch can be configured to take certain orders and reject certain ones as well. You simply do not have any parameter to claim that Bmatch is transparent.

The percentage difference is obtained from the nominal values. You also fail to take into account the period of time within which this depreciation occurred. One occured in less than a year while the other spanned 12 years. So explain again which is more stable. Even if you use percentage, the period will show that DAS performed far better. But the important thing to educate you is that neither system can bring about stability. It is the fx policy in place that determines stability in relation to the realities of the market.

Your questions are irrelevant. The volume of Fx transactions were even much higher than what we have now when we had DAS. You are so wide off the mark. The stats don't support your claim and if I ask you for evidence of insider manipulation when we used DAS, you'll start going berserk meanwhile there is multiple evidence of Fx intervention by CBN this year which they first attempted to deny.

For heaven’s sake, DAS is just an auction model—one of many out there. It’s intellectually lazy and dishonest to dodge straightforward questions simply because the answers don’t paint your position in a good light. This isn’t about winning or losing; it’s about learning and progress.

You’ve mostly regurgitated illogical, weak arguments. The silver lining? I finally got you to use Google.

Even critics of the government won’t deny the remarkable progress the CBN has made in FX management. Except, apparently, you—who seem to believe that a system jettisoned for a more advanced one is somehow more transparent.

Here are the facts you can verify:

Under NFEM/BMatch, daily FX turnover regularly hits $300 million to over $1.4 billion (Nov 8, 2024), compared to significantly lower and capped volumes under the old DAS system.

BMatch offers real-time, multilateral price discovery visible to market participants, unlike the opaque, manually controlled auctions under DAS.

CBN’s current system exposes FX market dynamics instantly, whereas DAS concealed true market pressures behind closed doors.

I’m also quite sure you don’t have any skin in this game—if you did, you’d understand why transparency, liquidity, and real price discovery matter.

Kalulu44:
How so? They should also be monitoring them when they want to sleep with their wives too.
Oga monitor or no monitor the hat will happen will happen

Please understand that I'm in my feelings right now—as any Liverpool fan would be. But ultimately, any step taken to ensure this never happens again is the right one.

Sad! The club needs to start monitoring these players beyond the football pitches—they should have some sort of official assistant whose job is to keep them in check always.

Kukutente23:
You just keep making offpoint claims. What is the relationship between FX management and capital market.
You have still not explained how Bmatch a software is more transparent (whatever that means) than DAS. How is DAS opaque and centrally filtered. So if CBN today comes up with their own proprietary software to implement their willing buyer willing seller model, will you still come and start insisting they must use Bmatch or you'll hail them for being innovative? DAS is a system, a model which can also be implemented by a software or manually. Bmatch is a software that implements a model. You need to get this thing straight so you don't keep messing up. DAS is adopted and applied in different financial scenarios not just Fx while Bmatch is a Bloomberg developed software for fx trade. DAS is used even in oil trade biddings. Bmatch is fx modularised.
There's nothing like DAS being CBN controlled. DAS is a system developed by the Dutch not CBN. Actual trades takes place with DAS too.

It makes no sense to attribute fx stability to a software. Fx rate is determined by factors that are beyond the control of a software or system. If demand for dollar rises, can you explain from your knowledge what Bmatch will do to ensure the naira does not fall as a result of the spike in demand? Under this same Bmatch, dollar fell to 1470 and at one point hit 1690. That's a difference of 220 while from 2002 that DAS was first introduced to 2014 when it was last used, dollar moved from about 115 to about 216 which is a difference of 101. So according to your logic, DAS is more stable

You're looking at the spread which is a good thing no doubt but I'm talking in terms of real value which is what drives inflation. At 150, a N30 shift gives you 180. If the dollar then swings to 1500, the inflation that occurs will make a N30 gain, infinitesimal unlike if the gain occured when the dollar was 150. Hope you get it now

You keep dodging and spinning nonsense, so let me break it down for you. You do not even know the meaning of DAS; you claimed it’s developed by the Dutch — that is beyond laughable. Just Google it: DAS was developed by CBN, not any imaginable Dutch citizen.

First, your attempt to separate FX management from capital markets is weak and irrelevant. If you were even remotely connected to either, you’d instantly grasp the difference between transparent, real-time trade platforms (like NGX vs. NASD) — the same difference that exists between BMatch and DAS.

Second, your “BMatch is just software” line is pathetic. Yes, it’s software — but it enables a transparent, market-driven process where trades are visible and prices reflect actual supply and demand. DAS was a bidding system, but controlled and manipulated by CBN: who bids, who wins, what volume — all centrally filtered. Your claim it’s “not CBN controlled” is laughable. CBN ran the auctions, chose participants, and set allocation rules — that’s control.

Third, you accuse me of not explaining transparency but refuse to acknowledge that DAS price discovery was closed, opaque, and heavily managed — while BMatch trades happen live and are visible to participants and regulators alike. You say if CBN built their own software, I’d praise it? Of course not. I’d praise transparency and genuine market-driven pricing, which BMatch promotes far more than DAS ever did.

Fourth, your ridiculous FX stability “logic” is math-twisting nonsense. You ignore that the scale of currency depreciation matters far more than nominal price moves. A ₦220 swing on a ₦1500 base is minor; a ₦101 swing on ₦115 is catastrophic. The percentage difference is what drives inflation and economic pain — something you clearly fail to understand.

Finally, your “real value drives inflation” argument is backwards. Inflation is directly affected by the percentage devaluation of currency, not nominal gaps. You’re just parroting nonsense you don’t comprehend.

If you want to debate FX markets, at least come armed with basic economics, real data, and humility. Otherwise, you’re just embarrassing yourself.

Answer these simple questions or stop wasting my time:

Which platform — DAS or BMatch — has delivered a more transparent, market-driven FX pricing mechanism?

Where would you realistically source $1 million without insider knowledge or favoritism — DAS or BMatch ?

If you dodge these again, this conversation is over.

free2ryhme:
After BRT enforcement team has used it to milk innocent Nigerians

I drove on the BRT lane this morning at Odo iya laro

Those guys made a fortune off that road — to the point where they had to hire people just to manage their racket. It's hard to understand why it took LASG this long to act.

Mynd44:
The ADC must do everything in its power to prevent PDP from having a presidential candidate else they are going to be splitting their votes

You really believe those who were pushed out of PDP can now influence its presidential candidate?"

Kukutente23:
You're wrong. CBN does not set rates under DAs. Go and get yourself acquainted with the system. It's a bidding system. You don't set rates in a bidding system.
There's no way you can prove that Bmatch is more transparent. You're just using grammar to cover yourself. A software still has proprietor who can determine its direction. Bottomline is that naira has been floated before now. Your claim of transparency is hollow because you don't have enough technical depth and insights to determine that.
Nothing says they can't be aggregated by CBN. You're simply repeating what I said in another language.
I challenge you to show that DAs was intervention- heavy as you put it.
Bmatch is only being used by official rates while BDCs who still get their dollars from different sources use rates set by CBN. So how is the system free from intervention?
You're just mouthing ignorantly now

You clearly don’t have skin in the game. If you were even a passive investor, you’d know the difference between NGX trading and NASD — just like you’d understand the gap between BMatch and DAS. One reflects real-time market dynamics; the other is opaque and centrally filtered. It’s the same logic.

Your claim that a N30 gap means the same at N150 and N1500 shows you don’t understand basic percentage math. If you did, you’d know a 20% spread and a 2% spread aren’t remotely equivalent — and that kind of error disqualifies you from serious FX policy discussion.

You’ve dodged every core issue:

DAS was CBN-controlled — allocations, participants, and cut-offs.

BMatch reflects actual trades — you just don’t like that it's harder to manipulate.

Now answer clearly:

Under which system — DAS or BMatch — have FX rates been more stable and market-reflective?

If you had to source $1M without insider links, which platform makes that possible — DAS or BMatch?

If you can’t answer, don’t bother replying. This isn’t a debate — it’s a tutorial you weren’t ready for.

Kukutente23:
You're wrong on very many counts man. Let me lay it down for you in simplistic terms
1. Comparing Bmatch and DAS when discussing fx strategy is like comparing a plane and a train when discussing air transport. A plane should be compared with helicopters, jets, rockets etc in air transport. DAS is a system for selling forex in an open market. It is not a software. Bmatch is a software for implementing the FXGo system which bloomberg uses for FX trading. the FxGo system typically matches seller's asking price with a willing buyer for each transaction in a typical willing buyer, willing seller model. The Bmatch then calculates the average of the buying and selling prices at the close of day sale to determine the market price at the end of that day known as the Weighted Average moving Price. DAS on the other hand employs an open bidding model where buyers name their price and sellers respond with the price they are willing to sell at. The sum of the highest and lowest price for buying and selling resp is then divided by total transactions to arrive at market price. You will see that DAS price will change more often thatn willing buyer willing seller price implemented by Bmatch changes. I'm sure even the Bmatch can be configured to implement the DAS model as well. I hope you get the difference now why I said it does not make sense to compare the two since they are two different things. The big difference when we were using DAS and now that we are using NAFEM is that CBN was not actively supplying dollars to BDCs as at then in a bid to close the gap. Instead, CBN itself played in the BDC market by buying or selling. So you can decide which is more "transparent" between then and know when the parallel market is basically fixed.

2. There's no need for BDCs to purchase Bmatch terminal individually for access the NAFEM. Their activities can be aggregated by CBN and then pushed on the software if they need it so. NAFEM and EFEMs basically are the same thing. Autonomous and Electronic. The difference is just the software being deployed. The system is still the same.

3. If you look at the real values, the difference between the 2010 official and parallel rates and the 2025 official and parallel rates are almost the same unit of about N30. Having a 2% disparity at high rate and a 27% disparity at very low rates has almost same effect in terms of weight. The effect on the economy for high rates is however brutal as we can all see. Compare with the Buhari rates that was over 150% in difference of about N300!

The important thing is that the 2010 model did not need to massively devalue the naira before playing catchup while the present one made a mess of the naira. Like I already told you, the naira is being defended in the parallel market. That's the main point of discussion by the Op, He claimed Nigeria was defending naira in 2010.

You're missing the core difference: EFEMs/BMatch is far more transparent than DAS. Under DAS, CBN set rates through controlled auctions. With BMatch (via EFEMS), prices reflect actual interbank trades in real time — it's a market-driven, visible system, not a centrally allocated one.

BDCs can’t simply be “aggregated” into BMatch either. Access depends on CBN policy, compliance, and trade size.

Finally, comparing N30 gaps from 2010 and 2025 ignores scale — a 20% spread at N150 is very different from 2% at N1500. And the macro context then (oil flows, reserves) made defending the naira easier than today.

Bottom line: DAS was opaque and intervention-heavy. BMatch supports a more transparent, decentralized FX market

givedemwotowoto:
I think he will join the coalition if they're democratic. He left the PDP in the first place because of undemocratic money politics. How can the rich just buy delegates against the wish of the voters? Read this article about how delegates are selected in the US, they have to openly pledge their support to a candidate so that voters know who to choose: https://www.nairaland.com/8464017/what-like-how-us-chooses

Did Peter Obi secure the Labour Party’s presidential ticket through a democratic process?

Mrfixitt:
Otti, the best working governor in Nigeria presently. Peter Obi breeds nothing but competence

By what metrics exactly? If its your own opinion then that's Okay.