₦airaland Forum

989900:
With rates harmonizing, with over $40b dollars expected from diaspora remittances, and over $10b expected from FDIs this year, plus improvement in power and refining capabilities expected towards end year, I'd say sub N300 to $1 is already on the horizon.

Throw in campaign for local agricultural products and other manufactured products and non oil exports.

Then there is that little nut: cashless policy.

989900:
Further interventions expected soon.

Jetleeee:
We go talk that one later

Eddygourdo:
It is that ignorance that fuels the IPOB agenda. A typical igbo man is an " intelligent idiot". Very good in trade, very good in opportunity, very good educationally, very rich in customs, yet very individualistic. When you reason with some , very similar to these IPOB idiots who roam around these parts, you will realise you are talking to a person who is politically daft., who in 30 seconds will mention buhali, buhali , buhali so many times that you marvel if he is under a spell. He will be unable to have any real political discourse with you on any issue.

the igbos can't compete politically in the nigerian structure and thus think it easier to form a biafra wwith minority groups they can dominate.

Jetleeee:
Lol.

How your side? Eku igbadun oo

Jetleeee:
Laaaaaal

Go through the post history

Elnida:
RIP English...a minute silent to the dead

Jetleeee:
Aunty Mo!

You know who is behind this moniker bah?

Jetleeee:
Haven't seen her in a while. Ipob youths stay mentioning her 24-7 despite her inactivity

Truth234:
I am one of those that will call him enemy of progress because of his bogus claims. One, according to the picture you posted, you can see for yourself that Trump is favoring defense over energy. That is one of the reasons Shale production surged since he became the president against general view of renewable energy becoming the order of the day, hence, the reason while global oil prices plunged below $50/barrel for the first time in 3 months this March. Trump doesn't believe in climate change and their predictions.

Two, OPEC is not struggling to stick to production quota, in fact, this is the first time they've recorded over 90 percent compliance. So all member states are devising new modus operandi to factor in renewed shale's production. Therefore, OPEC and non-OPEC member states are meeting this Sunday in Kuwait to discuss US crude stockpile and its impact on global oil glut.

Third, the issue of Russia is not different from Nigeria. Our 2017 budget was initially pegged at $44/barrel before it was increased to $45/barrel after OPEC consensus was reached on November 30th. Even if oil will plunged below that benchmark it would be around September when OPEC second production may not materialism and we would have gained enough from current increase to offset whatever little deficit we sustain in the 4th quarter of the year.

LaconicINC:
you de yarn real sense always

hobermener:
The smart ones will increase their stock of dollars, i repeat, the smart ones will increase their stock of dollars!!!!
Funelling millions of dollars into the forex maket on a daily basis, is a stupid short term solution to a longer term problem, which i assume is just a calculated move to score cheap political points.the price of Oil, the major foreign exchange earner is still very low, with opec struggling to stick with its production quota, any sensible human will evisage a further drop in oil prices, as the world moves to cleaner energy, and opec member nations continue to ignore the organizations agreements. Though slow, a long term policy of import substitution and agressive exportation through economic diversification would ultimately lead to a precipitous decline in the dollar price, but what do we have, a government still spending billions on oil prospecting, foreign direct investment at an all time low, and one of the worst economic contraction in recent times, yet some fools still cheer this fire brigade method of pumping dollars into the market for school fee payments and tourism, things that only end up driving exports higher, further complicating balance of payment problems.
Producers who need forex the most do not get them, these people are supposed to be top priority, expecially the agricultural sector and the mining sector, agressive importation of producer goods is the top priority of any country that seeks to curb foreign exchange problems in the long run, these producers should have government acting as payment agents(in dollars) after these purchases have been verified by the cbn, while these producers pay in naira at subsidized rates, but what do we have, a government subsidizing payments for pilgrimage and other bullshït of little to no economic significance.
Call me a pessimist, that's your opinion, buth when the inevitable consequence of this stupid move raises its ugly head, there will be no one to save the naira!!!!!

omenkaLives:
One of dem is itching to go over the edge but e be like say him dry fear the Pankere..

Pained little ignorant sons of little green men.

omenkaLives:
You don come with your trouble. Them go soon hold crusade inside your mentions.

omenkaLives:
Hahahaha. I was actually waiting for PDP to start wailing about the shoe.

I feel whoever took and uploaded that picture deliberately did it to provoke some wailing. I can imagine him sitting somewhere, reading the comments and laughing his asss out at their predictability.

xstry:
Just like the one fayose wore to eat 100 naira rice. This one is also a fake.

HAH:
is very simple dear, all the government need to do is continue with its interventions when it stabilizes they make it 50-50 between reserve and injection.

Already hoarders are in panic they are also selling, there will soon be glut in the market, where supply exceed demand which will inturn lead to price depreciation, remember with a stable fx regime fdi will flow which I also in fx, and lastly remittances, this is another huge source of fx.

Some people talk as if the CBN just give free dollars to bank, Nigeria earns in dollars from oil sales and we don't use dollar locally so the Government need naira to run the country therefore it needs to change this dollars earned to naira so the government must always change dollars to naira. Oil is just $50 imagine what will happen if it becomes a $70.

About 70% of our dollar demand is for import of fuel rice and wheat, I with dangote refinary coming on board and and new drive in local rice and wheat production certainly dolla demand for for will drop by atleast 70% at this point there will even be excess dollars that may make the dollar to be even less than N200 but I government
Should intervene via dollar mop up so so exporters will gain that I why I proposed proposed equilibrium price of N250 per dollar

Babacele:
hahahahaha....no be small up and down but una dey make money naa ,loosing some is part of the game

cos I pray this Emefiele latest translates to better living for the folks at home ,industries and the street... Korea caught my attention particularly recently but how have our financial policies ,learning therefrom, enable the citizens to do massive production and exports to bring in plenty dollars I haven't seen. Me I'm watching CBN n PMB sha. how ya doing?

HAH:
With the downward trend of the dollar in the parallel market it may sooner than later be at par with the bank offered rate of 375, then people will stop going to bank for pta they will go to BDC where there is no limit of exchange and no much documentation.

Hope the CBN will reduce the official exchange rate of the naira to like 250, personally I believe the naira should hobo around 250 at this rate local producers will also gain as well as importers, the 250 is sort of equilibrium price

989900:
Inflows from other sources: foreign loans, FDIs, IMTOs from diaspora, other exports and e.t.c. will all come in into the system now in-lieu of hoarding and speculating.

Even cocoa traders were racketeering.

A little increase on Naira card spending on foreign POS will be like sauce in indomie. ..

jesufifunmi:
Hi, pls what bank did your friend get it from at 330? Other banks seem to still be selling at 375.pls

jamesgordon:
GTB still charges N320 for a limit of $100 per Month! A friend just got PTA at the rate of N330 for $4000 from the Bank! ... Who's being cheated?

doubleakins:
Please enough of the grammar. Pls which banks still allows paypal with their MasterCard. Does Gt, FCMB, Diamond, Sterling, Heritage etc still accepts paypal.
Pls urgent response needed. Thanks

$310 AGC available @ 370 each

Escrow unless you are tested & trusted...

chiefkpokp:
To God be d glory for d transactions of today,thanks to omorotionmwan, whizcod, and 2 other senior men(names withheld).

Now i am still buying paypal- 0-30000usd (fnf) or i pay
For what i received. My rate is 350-370.... plz take note before coming to my whatsapp.
NB:my payment is not instant,reasons is that my chinese agent will confirm the funds while i credit your account.

410,000rmb available @61.8/rmb if you are buying once or contact me if buying pieces. All payment is almost instant

Also my appreciations to the DSS director and Ag Chairman(efcc) of Nairaland for your great work here, i would have love to fund ur call credit 1k each, but i don't no how 2 of u will feel.,

Modishguy:
the way btc is fluctuating eh.. make HPB no kill me oo

otubujohn:
Hello friends. Please I sold btc to a client who resells, after 48hrs of no confirmation from blockchain, the coin reversed. But there was a difference between current and original value I sent because of the sharp btc drop. I notified the client of the reversal and returned the current value, he started raining causes on me, that I gouged him. Please friend, did I get it wrong anywhere?

989900:
Dear Mo, May 31st?

bedford101:
Please who knows if Nigeria cards now allow forex transactions??

onatisi:
Thanks so much. God bless

mimibe:
transaction completed. Thanks