₦airaland Forum

raumdeuter:
It's his business decision. The part that's funny is when I see people telling the world richest man that he made a financial mistake. If you could do better you will be the richest man

Donjazet2:
You seem to be a nice person. Why are you doing this??

Why are you after my life??
How can you be out of this country and still want the country to remain in ruins? What is your aim?
Mogbeni, kilo shele?

Donjazet2:
Same format, every single time.

Thank God Nigerians are wiser.

Itsrm:
O
asisx being pummeled left right and centre

APC government is so difficult to defend. By the way, I read somewhere maybe on this same thread that the Angola currency has been doing extremely well against the dollar because of the oil boom. First the excuse was that PDP had 16 years of oil boom. Now that APC is experiencing the same oil boom,we are hearing other excuses like oil theft and how other countries are experiencing the same issue.

Excuses upon excuses.

raumdeuter:
Twitter is proposing to start charging $8 a month for blue ticks soon.

obainojazz:
And this man Dey hustle for another person country

kofimoses:
Honestly, this man sounds sooo uninspiring. I wonder if his followers ever feel motivated after hearing him speak.

Theflint1:
Lol...plagiarized plans being read off a book. Can he defend even a line of said plans?

nihilistjnr:
O.asisX this was me in July.

kofimoses:
you wish. We are laden with debt but we have a projected increase of exports soon to cushion that. But it should be noted that both our leaders are clueless.

Ibime:
Yeah, the blackmarket premium is because they stopped servicing currency traders with dollars from the reserves which amounts to the same issue. Sanusi tried that in his time and reversed it when it caused issues. Those BDCs need to be given liquidity to stabilise things, but it seems CBN doesn't have enough to provide. I don't know who still gets official rate, maybe Dangote and some special people, but this should be the widest gap between both rates since Abacha times.

Ibime:
Emefiele is not stúpid. Even someone with a basic BSc in economics will know how to use foreign reserves to defend a currency. The koko is whether he has enough Foreign Reserves to cover the next few months of imports. Letting the Naira freefall is a worrying sign that he does not, especially as NNPC is not backfilling his reserves.

I just looked at Nigeria's forex position and official figures says $38bln which is normal range and enough to defend the Naira at the very least from the last week of mayhem. But another unconfirmed report is saying the true picture is only $15bln which may go somewhere to explaining the inaction over the last week of freefall.

This still comes back to Nigeria's inability to prevent oil theft which has seen oil production halve since 2015, reducing our ability to earn forex. If that $15bln forex picture is correct, then this may just be the start of a monumental slide

obainojazz:
You’ve also seen many of my post criticising Atiku

You call out Buhari, they say Obi supporter

Theflint1:
Lol...what are you saying, even if you want to make a token appointment aren't there other SE'ners that can occupy the position?

Ibime:
That movement is too fast. I don't know how much Foreign exchange they have, but if they have some, they should mop up Naira liquidity and provide some short term stability. Investors like predictability. You can't invest in something and by tomorrow your return is already 15% down from foreign exchange risk

obainojazz:
These ones are equating me criticising the e government with next year’s election like I carry politicians for head like them

Hope you know whatever is happening now will affect Tinubu or whoever wins next year

You guys tactically defend nonsense and don’t call it out because you are loyal to parties or politicians

I’ve been calling them out before Tinubu or Obi declared intention to run for presidency

I can bet even Tinubu will undo some this current administration policies made from a point of zero knowledge

Anyways, y’all like suffering and smiling

Ibime:
This seems to be a bit more than just general dollar strength against everyone cos that black market rate has jumped nearly 50% in just few days. I read this somewhere, not sure how accurate. . .

obainojazz:
Ooasis said it’s world wide like there’s any currency falling at naira’s rate…. But but we ban rice and everything will be good said gloriousgbola

1 Australian Dollar used to be 170naira, now it’s 521