₦airaland Forum

Lithiumite:
There are times when coaches need to do what's expedient......Nigeria was already tethering on the brink of collapse,there is no more money to continue to pay subsidies and also defend the naira.....what was going on in the fx space was brazen exploitation making the country haemorrhage terribly.

What happened after the currency float was expected and was normal and could happen in any economy,it's for the govt to stand upto it and manage the system properly before it goes burst which I think they are doing though painstakingly.

We were lucky we had a free economy though tethering we escaped the faith of Venezuela.....it could and can still be worse!!

Listen, lemme educate you a little, a responsible government should have floated the exchange rate, they would have place more items that have local alternatives on ban but Tinubu lifted all the items formerly placed on ban for forex access by the previous administration so that they can buy directly from the government so that government can make more money from the expected increase in demand for forex forgetting that importation of pharmaceutical, agricultural and essential goods used to benefit from the direct access of forex from the IE windows.
There are many ways to checkmate round tripping but instead of doing it, they chose to punish the citizens.
The government is simply incompetent

Lithiumite:
The high dollar rates we are seeing is just the after shock of the reformation policies of this govt in that space as expected....it doesn't depict actual economic realities.....it was purely artificial and bourne by speculators.....I personally know a couple of people who has got their fingers burnt already by buying even at 1,900 and were expecting to still sell higher but look what is happening now.

You don't worry, everything will still settle and calm down..... however,I agree we can't get the 750 rate anymore,that's wishful thinking.

A good coach knows the strength of his team, you can't play an attacking football when you don't have a good team for that. floating our currency gave room for such manipulation. We don't have enough economic indices to check the excesses of the speculators and likely currency manipulators.

Looking forward to seeing the benefit of the trip. It however beats my imagination how official exchange rate is the one dragging the parallel market up now and how the official rate rose from 460 to 1600 just in less than 10 months.

Every Zone has capable hands to steer the affairs of the nation, it will promote unity in diversity and anyone against the bill is an evil being and deserves nothing good in his life

The Minister is trying but unfortunately, his ministry affects only the rich.

Lies and propaganda will never lead any government to anywhere

When did this incident happen and where are we today?
OP should have proved the perpetuators of the alleged incident wrong by telling us how the living in Nigeria has improved.

Hypocrites are after a state governor that has zeros influence in their life while an old man and his 40 thieves are messing with their lives and economy.
ok, they are after BDC whereas the official exchange is even higher than parallel market, so who is manipulating the official exchange rate?
they devalued naira from N420 to N1800 per dollars and back to N1500/USD and Hypocrites are here chasing after Abia state shadows.

I don't know if it out of ignorance or acute mischievousness, How can someone after saying that a license is given to someone to do something and still deprived that licensed individual the ownership of that thing?
Just like saying that FG is the owner of Dangote refinery simply because Buhari commissioned it.

Anything short of atleast N750/usd is good for nothing, N1500/usd represents 150% devaluation and this sounds like a thief giving you back 0.01% of your stolen money for transport and expects you to be happy with him.
Over to you hypocrites
By the way, FG should enforce the capturing of usd customers' bvn to discourage hoarding. Only in Nigeria they hoard dollars. what a country! And can you imagine that official rate is still over N1600/USD, who is fooling who?

danilho:
You must be a slowpoke not that some of his stupid policies are been reversed

unfoolish person would have mentioned some the policies

danilho:
Use your dead brain for once . No matter how hard you try, you cannot exonerate Emefiele that introduced the stupid policy. Mind you, the person in charge now is reversing some of his policies and making other reforms and you can’t just expect to feel the effect immediately. You can not feed a malnourished child to add weight in one day.

reversing what if I may ask, he has just devalued the naira to 1300 per usd and decided to sell to bdc guys, what is it he is reversing?
You are too idiotic to converse with

Paraman:
Do some of you read before commenting at all?

Do you even know what you are quoting?

danilho:
Idiots like you just come to online to type trash as usual. You carry religion for head like gala. Around February 2020. I did about 20 dollars transactions on four occasions amounting to about 80 dollars with my GTBank naira MasterCard, the equivalent in naira was deducted from my account but by September 2020 I was required to get a prepaid dollar card and source for dollar in cash to be deposited in my prepaid dollar account to do the same transaction. Dollars in cash is now needed for transactions we used to do from our naira account, and since then I have noticed a sharp decline in naira and it keeps dropping. You are here talking about Sanusi been a Muslim for a stupid policy initiated by Emefiele.

Contradicting yourself as usual, shebi emefiele don commot , How then can't you use your naira card for dollar transaction? why not blame who is in charge now? shame on you, nonentity.

Government should invest in agriculture by themselves now and leave these capital flight investors

danilho:
Better late than never, the former CBN governor has done more than enough harm to our naira.

una no dey tire to blame people? during Jonathan time, nobody blamed Sanusi because he was a Muslim, the blame was on Jonathan, after that Buhari and nobody is blaming him but rather CBN governor. Disgusting set of people.

BigIyanga:
Why does Naija need BDCs? Why not go to your bank with ur BVN,NIN, FORM-A, FORM M.. Banks vet your docs and request for FX. then CBN will pay the oversea recipients on FOrm M or A… and you have 90days to submit bill of lading to your banks for onward transfers to sNaija customs.

CBN should build a portal like Jamb/WAEC wheb FX disbursement with Form M/A can be submitted and tracked in real time.

The system in Nigeria is soo slow that you will miss payment deadly, business opportunities by submitting those documents for vetting as it takes days to be processed. Even the Mastercard and it's like can even be used in making foreign transaction.
This policy will even worsen the situation as it will make it difficult for people to access dollar, hence further increasing the price. what needs to be done is to stop floating the naira, that's where the price is been manipulated. Brokers are the once manipulating the naira just as they are doing to cryptocurrency. the naira devaluation is artificial and that is too dangerous for the economy.

RepoMan007:
The defense of naira meant $7b was added artificially to his net wealth in the past. Let's stop interpreting this like a punishment. It is just stoppage of privilege.

sense is far from you. Was your own also added artificially because your purchasing power has also dropped. what your N30k would have bought for you, even N50k cannot buy that for you now. You obviously have a comprehensive challenge

Foolish Reno should the dollar equivalent of both amount during the corresponding period .

some people are just dumb, customs just increased the duty from about 1500 to 1600 and because the dubious OP used the word pegged, you now think that they won't change the rate again

coolgb:
Why was he resisting arrest?
When the other Apapa man was beaten and humiliated, am quite sure you supported that.
Nonsense and ingredient

Intelligent people know that our security agents should be professionals in their dealing. Foolish people will support their rascality and at the same time cry over police brutality.

adamusuleiman2:
Another wailing thread from the usual people.

You insult and insult others, then close to the election, you will try to shove the agulu failure down people's throat and acting all nice.

Hunger is insulting you more now, Your contemporaries in Ghana and other countries now earn more than you now. Your N2500 can only fetch you 1000cfa Cotonou money.
Shame that bigotry cannot put food on your table.

Otolomo1:
You people are just dwarf in reasoning.
In what way has Jonathan survive?
You mean people are not crying at his own time?
Abi there is no suffering then?
Nothing like Boko Haram then?
No corruption then?
No increase of petroleum then?
No inflation ?
You people are just think from your bottom, how will you said someone that lost election perform. Does Jonathan live service the way he wanted?
He was chase out with vote.
People are not satisfied with his government that is why they chase him out with vote. Abi they rig the election? Just give me excuse why he loose election.
My brothers and sisters, Nigeria problem start laying concrete during the era of OBJ, it was officially build during JONATHAN ... stop playing game of saint in this problem, dollar doesn't start rising yesterday,Petrol doesn't start increasing yesterday.

Things were not too bad then, inflation never exceeded single digit, please do not rubbish NOI good job. Gej met corruption and introduced measures to curb it through, IPPIS, BVN, Single treasury account and others, tell me any measure introduced by Buhari and Tinubu. If it was GEJ and NOI, they would have found a better way to control the FX transactions. APC people are simply demonic

malali:
Obi cannot face the people behind the scenes.

Nigeria has a fifth column.

Obi will not last 1 month on that seat.

He has no political base, he will end up taking orders from other people.

They wont let him be his own person. Even if he has good ideas.

It is a fat lie, all that is needed is a pronouncement and everybody will obey. The problem with dollar is that Tinubu wants to make more profit in naira by raising of the exchange rate since he spends in naira.
Atleast Buhari started by banning dollar deposition into banks and other measures to save naira against other currencies but Tinubu lifted ban on all the products so that the demand for dollar will rise and he can make more naira from the available dollars to him.

Now he is after BDC, making it more difficult to access by common man.

How then will BDC get inflow?

Ebubu2:
Let Nigerians source for food produce from neighbouring countries and increase its supply into Nigeria.

All of us are enjoying ECOWAS free import duties.

The food is cheaper in Nigeria due to our weaker currency, the only snag is that quality of the food is poor and no money to buy them

verybadmouth:
Even if the guy is in a plane, in the bathroom, eating, banging his wife, in the office, farm, driving, the police officers have every single right to arrest him. He doesn't look like a top government official that has immunity, Soo why is he evading arrest and making stupid videos. He should follow them and answer any question he is asked.

But wait oo, una Nigerians funny ooo. What has the police officers done wrong for you to be insulting them in this manner?You don't even know what the guy has done wrong yet and you're blaming the officers. Imagine the guy was involved in the kidnap of your sister, will you be saying all these rubbish. Nigerians make una start to dey get sense oo. If you see how and where oyinbo dey arrest people ehhh, una go call Naija police holy.

I am super sure that you did not watch that video. please go back and watch the video and edit your comment and if it happens that you indeed watched the video then your IQ level is questionable because I see no reason police will arrest someone without atleast arrest warrant or atleast disclosing his crime to him. if he had any question to answer, an invitation should have been the best and if he ignores it then you can get arrest warrant and come and arrest but the police in that videos did not comply with any of those.

Pakute:
Give it to a secondary school kid to interprete to you, obviously, you lack the mental capacity.

I should give it to a secondary school kid to do what?
People with mental capacity! You'd rather stick to your online begging, intellectual discussions are not for people like you.

The issue is not dislodging Tinubu and APC, it is all about offering a better alternative
Is Atiku a better alternative?

Same him that was ready to join apc when the rumour of GEJ joining APC broke out

In the villages you find iroko trees, forest and other natural vegetations . Any place without natural vegetations is no longer a village.
Me, I like nature and in the village you find them