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Nairaland Forum / Paraman's Profile / Paraman's Posts
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Business / Re: Naira Stays At 1,339.33/$ As FX Turnover Jumps To $328.32m by Paraman: 8:29am On May 29 |
OmotolaDeniro:Go chop if you're hungry |
Business / Re: Naira Stays At 1,339.33/$ As FX Turnover Jumps To $328.32m by Paraman: 7:38am On May 29 |
800/$ before the end of July |
Politics / Re: Crisis At Best Way, Iwo Road, Ibadan. by Paraman: 7:36am On May 29 |
proeast:The ones supporting IPOB and ESN/UGM has made the south east the most peaceful region in the universe. |
Business / Naira Stays At 1,339.33/$ As FX Turnover Jumps To $328.32m by Paraman: 7:31am On May 29 |
The Nigerian currency, Naira, stayed at 1,339.33 against the United States dollar for the second consecutive day on Tuesday, its strongest since April 26, 2024. However, the foreign exchange turnover rose significantly from $180.80 million on Monday to $328.32 million at the close of trading on Tuesday, indicating 81.59 per cent appreciation, which signalled renewed activity and demand in the foreign currency market. At the official currency window domiciled on the FMDQ platform, the naira traded at an intra-day high of 1,506/dollar (Monday: N1,501) and a low of 1,150/dollar, stronger than N1,310 to the dollar on Monday. According to Bloomberg, the strengthening of the naira was linked to the intervention of the Central Bank of Nigeria in the forex market. The naira, in the last few weeks, had been unstable, thus reversing most of the gains made in March on the back of improved dollar inflows. The CBN Governor, Olayemi Cardoso had blamed the volatility on seasonal fluctuation during the post-Monetary Policy Committee meeting press briefing last Tuesday in Abuja. “Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply freely functioning market system,” Cardoso said. With $1.30 billion worth of cleared USD/Naira-Settled Non-Deliverable Forwards open contracts expiring on Wednesday, analysts are of the view that the naira may be impacted, thus increasing the chances of the apex regulator sustained intervention. At the Lagos Business School Breakfast meeting for May, the Managing Director, Financial Derivatives, Bismarck Rewane, had described the naira as a currency in desperate need of revival. He said the naira was under pressure as a result of “Nigeria’s external imbalances caused by a disruption in oil production, drop in oil prices and speculative behaviour of market actors, negative trade balance (0.86 per cent of GDP) and regulatory arbitrage.” To resolve the challenge with the naira, Rewane said there was a need for new money in the form of Eurobonds, which the fresh banking sector recapitalisation may be able to inject as well as increasing diaspora flows from $19bn to $25bn. Meanwhile, the foreign reserves dropped to $32.69bn on Monday, lower than N32.73bn on Friday. https://punchng.com/naira-stays-at-1339-33-as-fx-turnover-jumps-to-328-32m/?utm_source=telegram&utm_medium=social#google_vignette |
Politics / Re: NULGE President Hails Ekiti State, Two Others On Local Government Autonomy by Paraman: 6:40am On May 29 |
SoNature:This your comment no make sense at all. 10 Likes |
Politics / Re: Obasanjo Superintended Destruction Of Nigerian Economy – APC Knocks Ex-preside by Paraman: 11:15pm On May 28 |
iwaeda:So many youths are no more gainfully employ in O&G, banking, telecoms, construction, aviation and so on abi? |
Politics / Re: Atiku Abubakar Is Befogged With Political Envy–APC by Paraman: 8:40pm On May 28 |
What's left is to get the economy and security issue right. |
Politics / Re: President Tinubu Commends Wike For His Visionary Leadership In FCT (PHOTOS) by Paraman: 8:32pm On May 28 |
If you don't like it relocate to Anambra or Abia 4 Likes |
Politics / Re: Obasanjo Superintended Destruction Of Nigerian Economy – APC Knocks Ex-preside by Paraman: 6:58pm On May 28 |
Nigeria was a total mess under Obasanjo. No serious development happened between 1999 and 2007... Roads were bad, refineries was bad, power supply was poor etc |
Politics / Re: 1st Anniversary: Atiku Counsels Tinubu, Lists 6 Strategies For Him To Succeed by Paraman: 6:02pm On May 28 |
A strategy you should have told your boss but you choose to remove him from office 3 Likes |
Politics / Re: 2027: Let Nigerians Decide The Best Man To Lead Them, LP Tells Wole Soyinka by Paraman: 5:06pm On May 28 |
Nigerians will gladly choose Tinubu again in 2027 |
Politics / Re: June 12: If June 12 Was Free & Fair Why Did We Jettison Option A4? by Paraman: 5:05pm On May 28 |
Option A4 will lead to chaos in present day Nigeria. |
Politics / Re: Senator Nwoko Calls For Senate Probe Into Cbn’s Sacking Of 317 Workers by Paraman: 3:34pm On May 28 |
EmeeNaka:Can you provide evidence the CBN has employed new fresh staff under Cardoso? |
Politics / Re: Senator Nwoko Calls For Senate Probe Into Cbn’s Sacking Of 317 Workers by Paraman: 12:13pm On May 28 |
He didn't condemn the unfair recruitment policy in the CBN. CBN only employed children of the elites, Ned has no problem with the CBN employing only children of the elites 2 Likes |
Politics / Re: David Hundeyin Blasts Nigerians For Not Paying Him $5 Per Month, Vows To Quit by Paraman: 10:59am On May 28 |
You wan't to keep on giving Nigerians fake news like Tinubu didn't graduate from CSU. Look at the way the retard is even talking as if anybody owes him anything 20 Likes 1 Share |
Politics / Re: Northern Emirs, Rulers Forced Me To Annul June 12, IBB Opens Up by Paraman: 10:58am On May 28 |
A very dumb excuse 3 Likes |
Education / Re: Two Kano Schools Conditions - Dem Dey Pay Teachers To Teach For One, No Beta Cla by Paraman: 10:58am On May 28 |
There are terrible schools like this all over Nigeria |
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 9:51am On May 28 |
johnjose68:He will be heartbroken when he sees this news |
Politics / Re: It’ll Take 6 Years To Overcome Impact Of Subsidy Removal – ADC Chairman by Paraman: 9:36am On May 28 |
If Tinubu can get the exchange rate issue right and stabilize it, we will recover in less than a month sef. Just imagine the exchange rate is 600/$ |
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 9:06am On May 28 |
overall90:It's not just for Diesel and aviation fuel alone. It's for all the products he will be producing. The check has been going on since last year Findings showed major and independent oil marketers were keenly waiting for the sale of refined products from the $20bn Dangote Petroleum Refinery even though the January 2024 target for the release of fuel by the facility passed. But multiple officials of regulatory agencies in the oil and gas sector revealed to The PUNCH on Wednesday that the facility had yet to complete the various stages of its regulatory processes. It's for all it's product. He applied months ago |
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 8:06am On May 28 |
CountinBlessins:https://www.google.com/amp/s/punchng.com/government-approval-delays-dangote-refinery-fuel/%3famp You're ignorant. You made no research but spilling an ignorant comment 6 Likes |
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 8:03am On May 28 |
Nigeria won't need to spend billions of dollars importing petrol from next month again. iwaeda:So it's the APC that owns Dangote refinery? 8 Likes |
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 8:03am On May 28 |
ogododo:No mind the propagandist... I know someone working at the Dangote refinery, and he said the refinery will start working in 2026 3 Likes |
Politics / Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 7:18am On May 28 |
Dangote Refinery to Begin Euro V Diesel Exports in June, Gets Regulator’s Approval To Refine Petrol Dangote refinery is preparing for gasoline and Euro V diesel production, aiming to meet domestic demand and enhance exports.https://www.arise.tv/dangote-refinery-to-begin-euro-v-diesel-exports-in-june-gets-regulators-approval-to-refine-petrol/ 8 Likes 2 Shares
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Politics / Re: Fintiri Appoints 182 Special Assistants, 57 Board Heads by Paraman: 6:21am On May 28 |
ceejay80s:Nobody begged you and your people from destroying the south east under Buhari. Nobody will beg you guys to stop the killing and destruction in the south east when you guys start your madness again because you don't like the president. Dont just take your madness to the south west or south south. 3 Likes 1 Share |
Politics / Re: Fintiri Appoints 182 Special Assistants, 57 Board Heads by Paraman: 6:12am On May 28 |
ceejay80s:You can only destroy your geopolitical region after Gbajue lose the 2027 election. No other geopolitical region will accept your madness. You will quickly be giving the Oyigbo treatment 3 Likes 1 Share |
Politics / Re: There Is No Tribalism Between Igbos And Yorubas by Paraman: 6:10am On May 28 |
Dey play 3 Likes |
Business / Re: Naira Strengthens To 1,339.33/$ At Official Market by Paraman: 6:09am On May 28 |
800/$ before the end of July 2 Likes |
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