₦airaland Forum

merits:
It's safe die and very very secure that is where all this our politicians store their money either in naira or dollars EFCC can never trace your money or anyone.moreso you can also use BINANCE account to buy Dollar keep the more dollar appreciate the more your money would also appreciate at every interval.

TheBillyonaire:
We are obviously more American than Nigerian. It either we decouple our economy from dollars or we agree that we are a colony and continue to use dollars until the system collapses and we go into civil war again and split into 3 countries.

kettykin:
In a world where countries like Ethiopia are banning importation of non electric cars , Europe is stopping production of non electric cars by 2030. Asian powers by 2050 and someone is consoling himself with antiquated refineries built and serviced by parts from first world rejected spares

Dybala11:
And what are the experts saying??

udemzyudex:
Trash,let them do it first then others will follow.

FG should liquidate their foreign reserves, turn it to naira then we'll take them serious.

God1000:
please show me evidence

God1000:
Peter Obi is truly a grassroots politician

Error401:
Old glory, even at the face of facts,you still chose to be delusional

Gucciblog:
Sharrap.

People have been saving in Dollar before your papa was born.

Even your country saves in Dollar. Stop saying things like an illiterate.

Paraman:
Adelagun said, “This is not the time to speculate, it’s not time to stockpile. It’s time to get only what you need. If you need to pay for something, buy what you need and move on.”

He pointed out that the volatility seen with the naira was as a result of attempts of the Central Bank of Nigeria to mop up excess liquidity.

“The central bank is trying to mop up as much liquidity as possible to reduce the volume of cash chasing FX. The moment we will begin to get to normalcy and FX liquidity is available, and then we will begin to see the effects of some of these policies right now. So, everything is a derivative of FX management





Likening the scenario to building a house, the bank chairman pointed out that the measures being put in place by the apex bank would require time to settle and trigger the process it was meant to do before Nigerians begin to see the effect.

He declared, “… a lot of things are time bound. When I was building my house, somebody mentioned to me that when you put in a concrete slab, you put the concrete but you got to give it time to settle. You can’t rush it. You wait before you put up the next floor. And it’s almost exactly the message I get that a lot of things have been put in place.’’



https://punchng.com/standard-chartered-bank-warns-against-hoarding-of-dollars/?amp

a4cube:
They should warn Tinubu and Seyi first. The Bullion Van is being loaded right now.

Meanwhile have you had of what is going on in.Nnewi in Niger State?

a4cube:
Paraman, Aguluobi make una come its happening in Umuahia.😄😃😀

NEWSCENTER:
A moment for the iconic #CelineDion at the #GRAMMYs 🙌

Kabbie996:
6

Standard Chartered Bank has advised Nigerians not to hoard dollars at this point due to the volatility in the foreign exchange market.

The lender gave this advice during its global market outlook on Friday.

Speaking at the event, the Head of Financial Markets & Rates & Credit Trading, West Africa, Ayodeji Adelagun, said that given the unstable naira, that was the time to buy only as many dollars as required for use per time.

Adelagun said, “This is not the time to speculate, it’s not time to stockpile. It’s time to get only what you need. If you need to pay for something, buy what you need and move on.”

He pointed out that the volatility seen with the naira was as a result of attempts of the Central Bank of Nigeria to mop up excess liquidity.

“The central bank is trying to mop up as much liquidity as possible to reduce the volume of cash chasing FX. The moment we will begin to get to normalcy and FX liquidity is available, and then we will begin to see the effects of some of these policies right now. So, everything is a derivative of FX management.

“In getting to the point where liquidity should improve, foreign portfolio investors are likely to get interested in Nigeria and there is a chance that we can raise money through the Eurobond.”

He added that the biggest worry for foreign portfolio investors was the lack of ease of entry and exit.

“And that is because the price in the market does not necessarily tell us where the currency should be traded. Recently, we saw the FMDQ begin to publish prices that are fairly reflective of where the market rates are. What this does is to open the door for foreign portfolio investors to bring in their money because they are likely to have a market rate.

“It is not going to happen as quickly as we want it to happen, but this is a good development, in which case there is a likelihood that we’ll begin to see a few of them coming. The moment the market continues to adjust and it is perceived to be positive, it begins to open the door for us to go to a Eurobond issuance,” he added.

In his address at the event, the Chairman of the bank, Foluso Phillips, pointed out that the way Nigerians were reacting to the forex issue would create unnecessary pressure and panic.

“My own message is let’s watch carefully. I know that the aim of the central bank, as far as other financial matters are concerned, is to try and resolve these issues.

“We must have a very positive attitude. As far as what is going on in the country, it is obvious that we are all pretty concerned. We are all a bit jittery, we invest and we’ve worked hard and we need to have our assets protected. And we need to be monitoring what’s happening in the system so that we don’t get our finger burnt, so to speak,” he said.

Likening the scenario to building a house, the bank chairman pointed out that the measures being put in place by the apex bank would require time to settle and trigger the process it was meant to do before Nigerians begin to see the effect.

He declared, “… a lot of things are time bound. When I was building my house, somebody mentioned to me that when you put in a concrete slab, you put the concrete but you got to give it time to settle. You can’t rush it. You wait before you put up the next floor. And it’s almost exactly the message I get that a lot of things have been put in place.’’

Exousiang01:
Astronaut that can't take himself to space
LoL

Exousiang01:
I don't think you are thinking right bro.
The US can't even get to space on their own,

masterflowx:
Is APC working for you in your state or are you not in Nigeria?

Melagros:
In Plateau State we say no to apc, i wish other states will emulate us

anungangampu:
This are one of the robots am talking about. If ten of this post hit online. Am telling you, nothing will ever be demanded equally in Nigeria

Floky215:
But it was not in Onitsha, Aba,akwa,owerri,umuhahia or nnewi that people are shouting EBIN PA WA oh....!!!

Treadway:
why have they not gone after Ganduje that has been transacting in dollars since even before 2015? Oh I forgot, he is the APC National chairman.