₦airaland Forum

CBN giving USD woto woto

Rizin:
It is not recovering. It took less than 1 weeks to move from 1300 to 1900+. It is actually cooling to take off again.

Lol

CBN giving USD woto woto

More trouble for the enemies of naija

USD will likely hit 1200 by Friday

Binance & USDT were part of the problem

USD crashing with speed

More trouble for the enemies of Naija

Only today moved from 1780 to 1500

Better days ahead

Good news

Naira on massive recovery mode

I hope it will be sustainable

Good news

Naira on massive recovery mode

I hope it will be sustainable

LandMann:
Don't be fooled by the artificial gains Naira is having now. I made a mistake last year. I should have dumped my entire Naira holdings given that Tinubu was bold enough to remove subsidy and liberalise exchange rate when Nigeria doesn't produce its own fuel/diesel and doesn't export enough to earn in dollars meanwhile most multinational companies in Nigeria earn huge profits and ferry their profits back to their country in dollars.

Meanwhile there's excess supply of naira in the country due to the ill conceived and poorly implemented naira redesign policy such that few people in corridors of power and top bank personnel were able to loot and stack billions of naira in their apartments... All those excess naira chasing too few goods results in massive inflation.

Meanwhile the government was artificially holding down the value of the naira previously. Now they don't want to do that anymore.

By natural law, if what used to cost 36,000 when exchange rate was 360 is now costing 360,000... Then exchange rate should be 3600 now... Anything different from this should tell you that naira is being propped up on dead walking stick.

Inflation leads to depreciation of a currency. It's very basic economics. But many of you don't even understand basic economics. All u do is swallow propaganda of government while exposing yourself to suffering in future.

If you keep defending your fôolish government, rest assured they'll find excuses to keep paying you 30k as minimum wage when minimum wage should be nothing less than 300k

Be happy for the gain even if it's temporary. it's your country's currency we are talking about. You just sounded like a sadistic fellow. Binance was really contributing to the crashing of naira among other factors.

TrennixGLOBAL:
Bro dere is nothing done yet by the FG in the country to make naira appreciate again so dis fall is just temporary and due to speculation.

Temporary is relative and no one is sure of when it will start rising again. Best to cut loses and aim to jump in again when it's bullish.

Restricting access to Binance plus few other reforms can slow things down temporary.

USDT crashing fast

1490 already

Could by 1300 by tomorrow evening

Sell and buy back later

The future is unpredictable cut your loses now

1490 already

Could be 1300 soon

Superpack589:
Hello,

Can you tell me why you floated the naira last year? What is your objective of doing that? You people know that is the cause of all these chaos but you don't want to reverse the policy. How big can your ego be for you to sit back and watch people suffer because of your actions and not want to accept your mistake, apologize, and go back on it?

Why can't banks sell dollars to people. Why will somebody on suit and tie who is trained to handle money send me out to the street to buy dollars from an aboki whose shop is near one gutter? What is wrong with you people? Is there any sane person around you people making all these decisions? Are you all dumb for goodness sake?

Set exchange rates and allow us to be getting dollars from banks (as it is suppose to be), then you can go around pursuing Bnance and other market makers who are (according to you) manipulating the rates.

Correct

They are pursuing shadow. To stabilise naira the govt must suffocate and kill black market (BDC) by making USD readily available at banks for everyone to have.

BDC are owned by top bankers and politicians so their interest is at stake.

USDT no doubt contribute to the speed with which naira is crashing because it's a big market where alot of people easily can participate. From 1500 to almost 2000 in less than 2 weeks is caused by binance normally it could have been 1500 to may be 1600 in a month through BDC.

Chummynoni:
you have no idea about life with this comment you just wrote. So everyone that is above 40 and broke have not been productive with their lives? What sort of reasoning is this for God's sake?

Read what I wrote again may be you will understand it the second time of reading. If you can't understand then look for someone more sensible to explain it to you.

What of a man broke and single at 40?

She has a strong point

Our time is limited in this life and we should make productive use of them.

If as a lady you are single at 30, you must be financially stable via good career, business or skill. We have alot of ladies doing hook up at over 30 hmmm.

As a man if you are single at 40 and broke you have also not been productive with your life. I can understand if you are 40 and financially okay with good assets, business or career but not otherwise.

Time is a limited resources make productive use of your time

.

If you took this advice you will be smiling now

Government has declared war on binance.

Premium tears loading in the coming days.

They are the major platforms bdc use to adjust prices upward daily.

Government has declared war on binance. Premium tears loading in the coming days.

Government has declared war on binance. Premium tears loading in the coming days.

They are only interested in avenue to enable them loot

descarado:
Angel, how u dey?

U see, I have to be rational. What is happening to Nigeria is expected. Tinubu will not rest until he recoup all the dollars he shared to Nigerians during election. Some people can't open their mouth cos they are guilty . These people rejected naira. You have to buy them over using dollars. It was the biggest dollar politics of all times. Them don chop their own, its time for tinubu and his men to chop. This is Nigerian politics. Even small boys were demanding for money to do what they are paid for.

You are a wise man.

I have told people that Tinubu knows what to do to stabilise USD but will never do it because it won't serve his interest. More reason he believes in getting loan to stabilise USD. He is currently planning to get 10 billion USD to loot Abi stabilise naira. Those expecting USD to crash are naive and don't understand what is happening.

They are benefitting massively from this USD crisis because it makes them borrow to loot in the name of stabilising USD.

Before this week ends USD will hit 2k certainly.

Borrowing to stabilise naira won't work but they are only interested in money to loot.

The money will be finished in 3 months and crashing of naira will resume.

We are in a mess with this FG, cluelessness personified. No one even all his appointees seem to know how to arrest the decision.

Let him reversed the USD floating & see if he can stabilise naira even at 1500

Almost 2000

Lesson - Love yourself first

There was no reason going to rescue a woman held by lion unarmed.

He should have gone with a gun.

Go and convert all your money to USD before it gets to 2500 by March.

The Government has no solution to our problems.

USD is still cheap compared to what it will become by year end.

Our protest was rejected at the polls

Tinubu till 2031

On your mandate we stand

Please make it harder we need to receive sense

1usd = 5000
Fuel = 4000 per litre
Bag of rice = 250k

This is the destination by 2031

Chicagograduate:
Anytime University professors are mentioned,what comes to my mind are,aiding and abetting election rigging for politicians,sex for high grades, and selling handouts for grades.Yet,they are still driving jalopy cars of the 80s.
Wack professors that cannot produce anything.

Only very few professors are involved in election not all

Hotfreezing:
And if you convert it to USD, it is USD you will use to buy food, right?

Okay, you convert back to Naira, will the price of food be the same as at the time you changed to dollars, won't it have skyrocketed?

At least money remain the same as prices are skyrocketing? Which is better

2000 in sight

Our govt has ran out on ideas

Better go and convert all your money to USD now before they become worthless

pcagbaji:
But if them bottles you some, you go still drink?

Never

I can even afford it at 2500 per bottle just felt it's time to quit.

Alcohol is normally a poison to the body and everyone must quit as they get older.

My best decision last year June was to stop drinking alcohol, all thanks to Tinubu & exorbitant prices. I can't believe I have lived without alcohol for almost 8 months

Emilakon

Mumu people

On your mandate we stand

Tinubu till 2031.

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