coputa:
Remove religion from economic reality.

What goes up in Nigeria never comes down

Just imagine FG meeting with cement producers to fix cement prices...

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Sassha:
Tinubu is not smart as we thought.

He's a tout and touts leader... His products full Lagos. What do you expect from such a man?

Didijiji:


My question is this... Why cant we have just the banks serve $ customers?

Naira customers are like 85% of the total numbers of customers accessing banking service in Nigeria
Dollar customers are 15% of this number

If the banks can serve 85%, why do we need a parallel market for 15% with their very small population?

Same bank branches should attend to the needs of all classes of customers

Good question. If Tinubu can solve this, I will highly commend him

KingKO22:


You are worst than those that are protesting

Peaceful protest is part of democracy

But you people are inciting people calling for military takeover or Tinubu should resign

We see thousands of useless threads created by Ibos. Tinubu must go. Tinubu is this, Tinubu is that

Go and pursue him from Asorock

Shut up

Chivisee:
The good thing is "as far as Nigeria is concern,Yorubas will always know how to manage the ibos. Two of my dad's ibo tenants has falsified their documents to a Yoruba linage. That says a lot about the Yoruba edge over them in Nigeria. I can't see any reason why a Yoruba man will change his name to Ibo.

Keep dreaming

I had same experience in Lakowe, Ibeju Lekki, Elemoro division. It was a sad one and I literally fought with them. These things seems to be happening in Lagos with anything being done. Nigeria Police has become kidnapper in uniform who demand ransom in the name of bail...

Is there a way this can be made popular?
Mods, please push this to front page.

Usmanovic95:
If this hunger doesn't unite us all to have one voice,I wonder what will unite us.

I refuse to be united with any other part of Nigeria to fight for its redemption.

Not with what I witnessed in the last election, and to add to that, the careless statement of Gowon yesterday.

I don't pray for either good or bad of the Nation but to fight for its good? Count me out.

Dangote can give back to the society by reducing the cement price to 4500 or 5000 naira. Not giving out millions that will end up in the hand of a few. Davido's gesture is justified...

Racoon:
Imagine what Gowon is still saying after more than 54 years of the failed nationhood and despite that his people are on the receiving end of same misgivings today? Such senility.

The war in his mind is his glory...

pandoragirigory:
Peter girigory Obi and his cohorts are still crying for losing election

Coward

Hydroxide:
wetin concern crypto and Nigeria economy? What has the government contributed to the Nigerian Economy? Answer that one first.

I would have answered your questions but the first question of yours made you unqualified and undeserving of an answer.

koondog:
She is an agbado, not an obedient. I'll tell you why. Number 1,Yoruba who are obedients in fact insults Yoruba who supported Tinubu more than Obidents. To them, it's very painful that most of their people supported this failure and the reason the country is in a mess.

To any sensible Yoruba, they know it's an insult for this country to be in this mess when the Yoruba race has capable minds like Osinbajo, Akinwunmi Adessina and Olusegun Aganga, who would have done exceptional well as Obi or even better. This is the pain of many sensible Yoruba, Yoruba is now a laughing stock. Even Buhari up until May 29, did exceptionally well than Tinubu.

Number 2, this lady if you watch the video claimed Tinubu won 66k votes in Anambra, that alone is enough to know she is an agbado to have believed that or even open her mouth to say that. The fact she would even nurse the idea that 66k people voted for Tinubu in Anambra, which is not even possiblein the entire SE, is an insult to Igbo people. It's not about tribalism, Obasanjo won over 90% of the SE vote in 1999 and 2003, so nothing to do with tribalism but yoruba bringing out competent candidates.

You even have time to reply the mumu woman. And to add favour to the gist, she calling herself obidient.

Omo, ignore her likes and their yeye rant.

Hotice085:



Says one Agbero from illasamja

Ok. And you're who?

And in addition to that, can you at least say one or two things that makes Crypto different or list at least tow positive contribution of crypto on the a nations economy...

Use Nigeria as a use or study case.

If you don't reply and answer this, then I will respond to your name calling.

Nothing. Crypto ain't different from betting.

Betting is even better.

GanagiBitrus:
Industrialisation
Agriculture (mechanised)
Local products Patronage

These are areas Govt needs to promote & set up consusive atmosphere for them to thrive.
Removal of Subsidy & floating of Naira is not the crux of the matter.

While you're right, the government should have allowed the subsidy to remain while they work on the list you provided. When the positive impact of the improvement is felt which will be a reduction in price of goods since we will mostly be consuming what we produced locally, then the subsidy will be removed.

Tinubu have the wrong economic team

jeejo:
I understand that what I am about to explain will earn me insults from a selected few individuals because the same culprits are active here on Nairaland, so I am ready for that as well.

If you go to Binance P2P, there is a heavy manipulation going on there, and from my deductions, most of the big Binance P2P Merchants are united in carrying out this manipulation. Some of them even have over 2 Million dollars worth of USDT in their Binance P2P Funding which begs the question whether these people are truly Nigerians or probably foreigners making money from destroying the Nigerian economy.

Many people might not understand the strategy these merchants use, therefore, I will try to break it down.

This is how the manipulation works:

1. Lets assume that the Naira to Dollar is currently exchanging at the Parallel market for 1,500 Naira. On Binance P2P, the group of Merchants will create multiple fake ads claiming that they will buy your USDT for 1,700 Naira(way above the parallel market price). I call these ads "fake" because they will set a minimum limit above 5Million naira, which means if you want to sell your USDT to them at this exorbitant rate that they created, you must be selling a usdt value worth over 5Million Naira at once. This strategy works in filtering out majority of average Nigerians that want to sell their USDT to these Merchants. Meaning these fake ads will remain at the top of the p2p "sell" section for as long as these group of Merchants want it to remain. And if by chance someone who has enough USDT to meet the minimum limit decides to sell to these merchants, they will simply cancel the trade, and create another ad.

2. Now because these group of merchants have filled the P2P "sell" section with these fake ads claiming to buy your USDT at an exorbitant rate of 1,700 NGN, they have automatically shifted the P2P price of Naira to USD to 1,700 Naira, and now they will be selling their USDT to the public under the "buy" section above 1,700 Naira. Now - unlike the fake ads they created with a minimum limit that is above 5Million Naira to discourage sellers for selling to them at this high rate - when they are selling their USDT at this already manipulated price, you will find limit as low as 4,000 Naira because they want to sell to the Public at the exorbitant price they created.

Binance P2P is the new AbokiFx where BDC operators get their current price of Dollar from. The fake price originating from there is in turn used by the BDC operators to set their Dollar selling prices even without any corresponding demand. But the interesting part is that these BDC operators won't buy from you at any rate close to the exorbitant price they are selling the dollar to you.
Here in Benin city, even though the parallel market price of Naira is above 1,600 Naira, the Abokis hardly buy your dollar for above 1,500 Naira but they will sell to you only above 1,700 Naira.

Some people might argue that if Binance is to blame, how come the official exchange rate is now above 1,500NGN to 1 USD? The answer to that is simple. Each time the rate in the Parallel market moves up, the CBN is forced to also adjust official rates upwards in order to close the gap between both windows or else the black market rate will be too wide that it will create an irresistible opportunity for round-tripping.

There is a huge rot in the entire BDC system in Nigeria that I don't think this CBN governor has any idea how deep it really goes.


Update: It appears the Nairaland moderators in business section do not like this post because they banned my alternate Moniker for 4 days after making this post there.

You're right. This is one of the things contributing to the sabotage of the economy. There are more underground stories. It ain't the making of the government alone but I will always blame the government because they failed to keep things in check.

KingKO22:


You guys love to deceive yourselves 🤣😂😜😜

Skull miners and cannibalism which one is worst?

Hungry is peculiar to a region?
If SE is full of rich people then what are the millions of Igbo doing in SW? To search for hunger ? 😜😜😜😜😜

Emeifiele Naira redesign era have taught us a big lesson about hypocritical nature of you people 😜😜😜 even the one you have been protesting for the past many years what did you achieve with it?

Dot in a circle republic have no values whatsoever in the scheme of things in Nigeria 😜😜😜😜😜

They're ripping south west.

The north should go the f*cking hell.

chiiraq802:
Nice one.

Mk dem equally dey for the list at the age of 35yrs and 39yrs old respectively.

What are(were) you best in at 25?

No!!!
If you can, pay for a cemetery space for your tenant to bury his lost one.

Stop making this kind of votes please.

Leave Igbos alone!!!

Abuja Didn't Vote Tinubu. I love them.
Anyway, if you be Igbo and you dey Abuja, sha mind your business and protest with fellow comrades only online.

Burob:
Crying more than the bereaved all you Obidients?

Tinubu this, Tinubu that, hope you can keep up the momentum for the next 7 years o?

How is he crying more than the bereaved?
Who made the post on twitter?

Abeg getat

DeLaRue:
Saying Tinubu knew what he was going to meet in government is ridiculous.

So, Tinubu knew Nigeria had only $3.7billion in its foreign reserve, not the $37 billion that the Buhari government led the country to believe.

Did Tinubu know that Emefiele, Buhari's assistant Tunde, and the Aso Rock gang stole billions of dollars and trillions of Naira?

Did Tinubu know that the Buhari government has sold most of the country's future oil production, collected the dollars and spent/stole it all?

Did Tinubu know that the past government was effectively handing over a virtually bankrupt country to him.

Why should Tinubu not blame the past government.

Did Tinubu install Buhari twice?!
Did Tinubu not have inside men loyal to him in Buhari's team all the time he was campaigning for Buhari?

Mr. He has snatched power, let him fix the country or admit of being a chicken that he is.

Whatever the mess the country is in, Tinubu should be blamed first before Buhari.

His selfishness and personal ambition killed the country.

If nothing is done to this Man, then Tinubu is a chicken.

Though Nigeria has been a hell since he emerged as president but it has nothing to do with Muslim - Muslim ticket and his wife being a Pastor.
This should be arrested and be made an example else, this statement if ignored will embolden others to say more daring words. He should be realty with.

Yarimo

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