₦airaland Forum

People who are mainly traders and trippling prices daily on old stock and cashing out big.

Mumu people

[quote author=Geopex post=128484034][/quote]Yes at least they will conduct a better election in three years time.

Dear Nigerian Military the time is now. We beg you to save Nigeria

It's still cheap better stock up now on USD we are heading to 5k per USD by year end

With this economic crisis only a reversal of USD floating can stabilise the naira which ego won't allow Tinubu to do. Reckless policy that will crash Nigeria. Even if reversed it may be officially at 1500 and 1800 black market.

Omihanifa:
If something urgent isn't don't to prevent the slide. We should be looking at 2000 naira to a dollar by December.

Before end of March we will cross 2000 if something drastic is not done like reversing the decision to float naira so it can stay at 1500

He should focus on protest to reverse floating naira.

The word revolution is too sensational and will seem like trying to overthrow the government. It may end like end SARS

oluayebenz:
The policy is not working and it's getting out of control.

CBN will fix the rate at 1k... anytime soon

Info from insider

Not possible to go that low they have put it at 1490 already....

If they reverse the policy they can only hold it at 1500. And black market where it is accessed will sell at 1700. Difference of about 200.

oluayebenz:
Buying dollar at this point is extremely risky..

CBN is about to reverse the floating of naira policy.

I pray they can reverse the policy without further delay but they won't . It's a presidential directive and only Tinubu can reverse it if we occupy the streets.

Another thing you should know is that politicians and elites including everyone in CBN can't shoot themselves, they are all in the USD speculation game.

They all save in USD, participate in the hoarding and speculation & cashing out big time.

CBN is even selling USD to banks at 1490 to banks, banks will sell 1550 to 1600 to BDC and BDC will sell 1700 & above.

Any scarcity will disrupt this price pattern and it goes further up.

If not for the secret subsidy fuel should be 1200 & above now

1600 at the moment

Check abokifx

Foodempire:
Tbs should be nothing less than 22% by now as dollar is now #1,650. The economy isn't economiking, I wonder how the civil servants survive on a daily basis.

The economic crisis is heading the path of Venezuela.

USD @ 2000 is almost certain by march due to massive buying of USD for hoarding and speculation at any price.

A friend bought 5000 USD two days ago at 1495 and today it is at 1605. That is 110 x 5000 = 550k profit in few days.

Imagine those that can buy 100k USD for hoarding & speculation.

Floating naira was a terrible decision that will sink Nigeria if not reversed.

To compete well TB should be over 25% now BC it looks unwise to chain down money in naira for a year BC the value will be gone by the time you receive it due to super hyper inflation. USD is the Koko now

Go and buy USD to re- sale in 2 months time when it hits 2500 & build.

Salary earners especially those earning below 200k will become poorer without extra sources of income.

Nigeria is heading the Venezuela path.

The leadership lacks the capacity to manage this Crisis and hyperinflation.

Omihanifa:
Upon all the dollars the CBN is pumping into the market through the banks the naira keep sliding

Speculation and hoarding is the major problem. An average Nigerian is buying USD as an asset to hold. Just give it one week they will buy everything even the banks are hoarding too to profit from speculation.

My friend bought 5000 USD yesterday at 1525 and I was still telling him it's too high but he expressed confidence it will be 2000 before one month time. Hmmm today alone USD is 1575 he has gained 50 x 5000 = 250k after 24 hrs

As long as Nigerians have extreme confidence in USD and can buy it at any amount for speculation purpose it will keep rising. USD has become an asset people buy and keep to profit from.

Nothing appreciates faster than USD in Nigeria now so everyone is buying USD at any amount.

Any amount CBN put up for sale will be bought in 7 days for hoarding & artificial scarcity is created to make it rise again.

Floating naira is a terrible decision that must be reversed

malali:
Cheaper Exports: When the Naira is devalued, it becomes less valuable compared to other currencies. This makes Nigerian products cheaper for people in other countries. Think of it like selling your cool toy cars to friends abroad at a lower price. More exports mean more money flowing into Nigeria!

Expensive Imports: On the flip side, devaluation makes foreign toys (imports) more expensive for you. Imagine your favorite video games suddenly costing more because they’re imported. This encourages people to buy local toys instead.

Boosting Local Industries: When local toys (goods and services) become cheaper for foreigners, it helps Nigerian businesses grow. They can sell more, hire more people, and contribute to the economy.

Tourism Advantage: Devaluation makes Nigeria an attractive travel destination. Foreign tourists find it cheaper to visit, explore, and spend money here. Imagine more tourists enjoying Nigerian culture, food, and music!

Investment Inflow: Investors like to put their money where it grows. Devaluation encourages foreign investors to set up factories, offices, and businesses in Nigeria. This creates jobs and stimulates economic growth.

Balance of Payments: Devaluation can improve Nigeria’s balance of payments. It’s like keeping track of how much money comes in (exports, investments) versus how much goes out (imports, debt payments). A positive balance is good!

Inflation: Devaluation can lead to higher prices for everyday items (inflation). Imagine your pocket money buying fewer candies because prices went up. But controlled inflation can be healthy for the economy.

Reducing Debt Burden: Nigeria owes money to other countries (national debt). Devaluation makes it easier to repay those loans because the Naira is worth less. It’s like paying back a smaller amount.

Competitiveness: Devaluation makes Nigerian businesses compete better globally. Just like you try to win in video game tournaments, our economy competes with other countries. A cheaper Naira gives us an edge!

Learning Opportunity: Finally, understanding devaluation teaches us about economics. It’s like leveling up in your favorite game. By knowing how money works, we can make smarter decisions for Nigeria’s future!

Chat Gpt

Terrible decision that we must protest for it to be reversed before it is too late

Prophecy was 50% right

Match did not get to penalty

Forgive him he still dey learn the work

VC don finally cash out

This is the easiest way for a VC to cash out big time. Each student may pay 100k

The small boy that played against Aina today almost killed his career today.

They were using that wing throughout the game and our coach has no answer to that.

Aina was terrible today or should I say that ivory Coast boy was fantastic.

This little boy from Ivory Coast is my man of the match

Is he waiting for iwobi to score own goal before he will be changed

Too much luck is just on our side right from the first match. The God of football is a Nigerian.

From no where we have scored a goal with half Abi quarter chance created

We are totally dominated

They are outplaying us ooo

Leaked line up

OgunkeelAllMod:
wait a minute Oga,ONLY falseprohet has the full right to the phrase'I SEE'

I fit just charge you for plagiarism

Get dozen handkerchief ready for your premium tears, you Ghananian I'd.iot

I see Nigeria trashing ivory coast, osihmen with a brace.

Ihenacho to replace iwobi

3 nil

I see a trashing scoreline

Nig 4 vs 0 IVC