₦airaland Forum

Incredible128:
This is a useless headline, were they chosen according to their geo-political zones? The maker of this headline has Rwandan style of country division and nairaland and it's owners and operatora should be ashamed for allowing a news with headline such as this to make FrontPage

VeryWickedMan:
Make dem no go blame iboman for their ineptitude.

Obakoolex:
Nzogbu

Nobody should cry marginalization later o

ProjectsCityNG:
Indicate that these are noncrude oil nations for the sake of clarity please. Stop publishing lopsoded information

Streetdoctor:
Lolsssss, na dis time typhoid go finish una, dey play

The US Dollar on Wednesday crashed by 6.45 percent to N1,450 from N1,550 sold on Tuesday on the parallel market, commonly referred to as black market, after the Central Bank of Nigeria (CBN) hiked interest rate on Tuesday.

The CBN raised its Monetary Policy Rate (MPR), also known as its benchmark interest rate by 400 basis points to 22.75 percent on Tuesday from 18.75 percent in July 2023.

The Naira appreciated by 6.89 percent as the dollar crashed by 6.45 percent to N1,450 on Wednesday compared to N1,550 exchanged on Tuesday on the black market.

The impact of the rate hike has not yet reflected on the official foreign exchange (FX) as the naira depreciated by 2.04 percent after the dollar was quoted at N1,615.94 on Tuesday compared to N1,582.94 quoted on Monday at the Nigerian Autonomous Foreign Exchange Market (NAFEM), data from the FMDQ indicated.

During spot trading on Tuesday, the intraday high strengthened to N1,778 per dollar from N1,805/$1 on Monday. Also, the intraday low firmed marginally to N1,300 on Tuesday from N1,301 per dollar.

The daily FX market turnover declined by 7.45 percent to $154.16 million on Tuesday from $166.58 million recorded on Monday.

As of Wednesday, the Bureau De Change (BDC) operators have not yet received their dollar allocation from the CBN, BusinessDay findings show.

Although the reason is yet to be known, about 785 BDCs have been listed for the allocation, which the CBN approved of.

The CBN will sell $20,000 weekly to each BDC at a rate of N1,301/$, according to a circular published Tuesday. The BDCs are allowed to sell to end-users at a margin not more than one percent above the purchase rate from CBN

The Monetary Policy Committee (MPC) meeting, which held on Monday and Tuesday, raised the MPR by 400 basis points to 22.75 from 18.75 per cent., adjusted the asymmetric corridor around the MPR to +100/-700 from +100/-300 basis points, raised the Cash Reserve Ratio from 32.5 per cent to 45.0 per cent, and retain the Liquidity Ratio at 30 per cent.

Yemi Cardoso, governor of the CBN, who chaired the MPC said, “The MPC also deliberated extensively on various distortions in the foreign exchange market including the activities of speculators, putting upward pressure on the exchange rate with high pass-through to inflation.”

He said members were, however, convinced that the ongoing reforms in the foreign exchange market will yield the desired outcome in the short to medium term. Some of these reforms include: the unification of the foreign exchange market; promotion of a willing buyer willing seller market; removal of all limits on margins for the International Money Transfer Operator (IMTO) remittances; introduction of a two-way quote system and the broad reforms in the BDC segment of the market to restore stability, enhance transparency, boost supply, and promote price discovery in the Nigeria Autonomous Foreign Exchange Market.

ValarDoharis:
Story for the gods. So Omoyele Sowore is Ijaw name? Ondo is Ijaw right?

casualobserver:
Worry about the people who lost and their errors not the people who won without Osinbajo.

Bluearrow:
You are very wrong!
Not if he was the one representing the party!
If tinubu didn't have interest to contest, don't u know Osinbanjo would have represented the party? Osinbanjo had no chance because tinubu was interested in becoming president, not because he had no political following. If tinubu had supported osinbanjo, the man would have defeated atiku. Obi wouldn't have gain such popularity. People drifted to obi because Osinbanjo was out of the picture.

ValarDoharis:
A Yoruba man Sowore would have done better but the Igbo man Obi who has been a two term governor would have done worse?

Why are we pretending to be one country?

Cantonese:
Osinbanjo should have been included. If he came on the ballot of APC, it would have been a complete game changer. APC would have won far more votes because of him.

Prigidypogodo:
Thunder scatter Peter Hoebi insha Allah amin
Thunder scatter Peter Obi insha Allah amin
Thunder scatter Peter Obi
Scatter Peter Obi
Scatter Margaret Obi
Thunder scatter Obi insha Allah amin.

Hahahahahaha nice song 😃

Pristine664:
Yorubas are truly blessed people and know how to get what they want through peaceful demonstration.
They protested against Abacha
They protested against Obasanjo
They protested against Jonathan
They protested against Buhari

Now they are protesting against Tinubu

No wonder the region is the most progressive in the country.

adamusuleiman2:
Mr Peter Obi thinks we are all gen z.

Before.

Brushstrokes20:
Bullocks!... I align with pa adebanjo! 💯💯
# scums as this is the reason the DOOMED CONTRAPTION is better DIVIDED!💯
# the shyyythole is long overdue for DISINTEGRATION! 💯

Dawdy:
Don't tribilise this hardship protest. You idiot Afenifebi elders.

Chikel20000:
If dis were Igbos or Ohaneze....only God knows what people will say

christistruth01:
The truth is Yoruba is the Umbilical Cord
Edos just can't get Rid of no matter what they do

What God has Joined together let no man put asunder

Even Oba of Benin Title Omo'noba na Yoruba

Goodvibes007:
They can't give half of what they dish out to others. They spent hours on that space arguing on his name lol.

Infact some said they won't call him Olumide but will only call him Akpata as they don't like the sound of Olumide.

FreeStuffsNG:
This is disrespectful to the cherished memory of Aketi. If you truly understand and speak Yoruba fluently as claimed then you are not being completely honest that your Yoruba friends who know you and speak Yoruba with you will treat you any differently from another Yoruba.

I have read very obscene words credited to this woman but sincerely I believe none of it. In Yorubaland, anyone who gives you a daughter has done you a very big favour.

Let's let Aketi rest in peace. E dakun

Good2go1:
Igbos stop allowing these people to deceive you into marriage, you saw what happened to Lagos LP governorship candidate.

successmatters:
Distractions from hunger

Nnamdi cannot end hunger

Franzinni:
Omo he hasn't changed his clothes in year's... The company should use this as a good marketing strategy... Haha

Jostoman:
Asue ighodalo is the next governor of Edo state and he is going to fix the road when he resume office.

There many of this type of road in lagos even after years of ruling in lagos.

Slytiger:
LMAO. The twerking Alhaja is still busy enjoying her loots from the Obidient mob.

PastorOlokonla:
I am sitting down and going through a couple of situations in my mind, particularly as it relates to the political landscape in the SE, the emergence of Nnamdi Kanu and IPOB and the present situation of the agitations and MNK who is presently languishing in jail with no hope of freedom in sight.
In this thread, I will be discussing about important lessons that could be learnt abount MNK, what he did wrong and and what could have been done if truly, the east want to have a separate country.

I will also take mature comments from contributors.

I will update this post later today so check back ok.......

Yujin:
Don't forget to tell us what you will do if you were Remi Tinubu who has a fatwa on her head. We are very eager to hear what you will want to do before she even does anything.