₦airaland Forum

Those eyeing FBN should allow it settle at N2:01k,
So we can break bank and make the best out of it.

*ThE OcToPuS*

locodemy:
Why tell us now the trend is up.........we never hear any noise making all these while the stock is bearish.........you and peterichy has no difference if not same person operating two monikers.

That simply shows your low level of IQ.

ihedioramma:
MADAM peterichy at what price did dollar end today? .

Tell your wife to stop mixing your food with weeds.

USD now N430 in UAE,

N500 here we come

*ThE OcToPuS*

Nigeria’s currency, the naira dipped to 423 against the dollar at the parallel market on Wednesday, August 31, 2016 after the National Bureau of Statistics announced an official recession in the economy.

The naira opened at 418/$1 on the day, but slipped to 423 after the NBS announced the worst economic recession in 29 years.

http://www.thetrentonline.com/gets-worse-naira-tumbles/

We foresee the economic recession over 12 moon's ago and out of God's love we kept raising RED FLAGS, even suggested the way out but they tag us pessimists and unpatriotic citizen,now the reality has set in.

While most are seeing a casting down some of us are seing a lifting up.

That's why the good old book says MY PEOPLE PERISH DUE TO LACK OF KNOWLEDGE.

I will never pity anyone on this forum that saw my warning on the bad state of the nigeria economy and my plead to safeguard their fund against the economic drought that will hit the system by invest in dollar right from when it was still trading 235 mid-last yr.

Some of us are actually having the best moment of our lives and heaven and earth will vindicate me that I really tried my best to save alot of souls via my countless warnings.

*ThE OcToPuS*

PETERiCHY:
APC government is a monumentalfraud and
CBN is a confused institution.

Well USD is currently N425 in DUBAI and no devil incarnate can stop this jolly forex ride

*ThE OcToPuS*

http://mobile.reuters.com/article/idUSL8N1BC3LL

Aug 31 (Reuters) - Nigeria's central bank sold dollar to some commercial lenders on Wednesday to support the local currency, which hit a fresh all-time low of 420 to the dollar on the unofficial market, the same day Africa's biggest economy officially slid into recession.

The currency traded at 418 to the dollar on Tuesday and has been under pressure on the black market for months.

feelamong:
BreakingNews: @cenbank lifts ban on banks sanctioned for fx sharp practices @BizMorning @channelstv @Channels24_UK

APC government is a monumentalfraud and
CBN is a confused institution.

Well USD is currently N425 in DUBAI and no devil incarnate can stop this jolly forex ride

*ThE OcToPuS*

sophy17:
For the sake of your followers.
One can buy dollars from travelex.
Requirements- Only PTA maximum allowed is 4000 dollsrs in a quarter per person. International passport with valid visa, data page and confirmed ticket booking. No boarding pass required. . Dollar rate is subject to additional 1% commission. .

I'm talking of what is obtainable you are counting the official requirements ok naa make una carry passport go buy forex for airport make i see

Just like during my vacation earlier in the year i learnt that Firstbank and Fidelity were selling dollar via MONEYGRAM.

I'm made my findings and discover that each firstbank branch sells maximum of $900 to their costumer of the day and settles it for that quarter while fidelitybank sells maximum of $1000 per quarter ONLY to their active account holders.

So tommorrow you will come out to say those 2 institutions doing MONEYGRAM transfer?

Well that's called a facade,

While here in Dubai you can comfortable walk into any of the numerous WESTERN UNION or MONEYGRAM branches with your id and make transfer of up to $10000 in a jiffy.

debeey87:
Bros, you can buy from Travellex at 356 naira in Naija now, so leave all the abokis alone

Travelex in Nigeria is a fluke.

Even during Sanusi era when dollar was everywhere they don't sell more than $2000 let alone now,

And by the time you get your boarding pass which is a MUST prerequisite.

Couple with their delay tactics you might eventually miss your flight.

So they ends up selling to their cronies.

http://guardian.ng/news/cement-price-rises-by-44-per-cent-hits-n2300-per-bag/

Dreams of lower construction costs by prospective homeowners might have become a nightmare, going by fresh increase in the price of cement products by manufacturers.

The development has already triggered a ripple effect in the open market, with prices going up by about 44 per cent in few days.

Investigations revealed that operators under the Cement Manufacturers Association of Nigeria (CMAN) have raised prices of brands by N600 per bag in factories, including additional N100 cost for haulage. This has increased retail prices from N1,600 to N2,300 depending on location. In some areas, prices have shot up to N21,350 or higher.

http://thenationonlineng.net/cement-price-rises-n2300/

We can all see that APC is a monumental fraud,

Though their yeye policies favors ONLY FOREX earners.

Well for the buy buy one's Dangote cement presents a buy opportunity

But as for me and my household we are solely holding tight to FOREX,

Bcus this sweet dollar ride is once in a lifetime opportunity

*ThE OcToPuS*

ihedioramma:
hold peterichy on that topic dec/jan let's see the price of fbnh that time . and for you peterichy why dollar is were it is, is becos of delta boys just look how dollar will go down nxt month .

The naira plunged to 418 against the dollar at the parallel market on Tuesday as scarcity of foreign exchange continued to weigh on the official interbank and black market.

http://m.punchng.com/naira-hits-418dollar-forex-scarcity-lingers/

Aliko Dangote and Access bank N500 per USD prediction is now a stone throw

Even my own N1000 prediction is no longer far-fetched

Drivers should be careful while driving, Animals have families like we have

locodemy:
Among the 3 banks in the list of 52 weeks low.......i have interest in Diamond bank but will like to buy at 90 kobo.

I can see the market is really torturing you big time.
Everything you will buy,Everything you will buy.
continue to console yourself

locodemy:
The question is..........by that time you mentioned will you be selling at profit or loss based on the #3.30 you bought?secondly do you know the extent fbn will fall at this time?if it falls to #1.00 now and rally to #2.00 by then,dont you see you will not be a profit taker?
i think the best for you and i including others who bought at high prices is to look for a way of diluting our shares with the lowest price fbn can go at this time............hehehe...........fbn to become a JIJO stock and it will be sweet this time.

The bottomline is if you ain't ready to lose all your fund then you don't have any business being in the stock market. QED.

*ThE OcToPuS*

Bureau de Change (BDC) operators in Abuja have blamed the steady fall of the naira on deliberate hoarding of foreign currencies which forces them to buy from government officials and top politicians across the country.

Some BDC operators at Wuse Zone 4, a popular spot for foreign currency exchange, lamented that the pervasive scarcity of the dollars and other core global currencies is due to activities of highly placed government officials, top politicians and Central Bank of Nigeria’s (CBN) staff, who have found the falling naira as a way to line up their pockets at the expense of the nation.

On allegation made by a former CBN governor and current Emir of Kano, Sanusi Lamido Sanusi, that people sit at home and make calls to buy dollars from the CBN and resell, BDC operators corroborated it, saying, “It is true.”

Refusing to identify his name, a BDC operator said, “Dollar is scare, we don’t have it like in the past. For us to have it, we must identify who to approach to buy from CBN for us,” he said.

“Mostly, top government officials use their influence to buy from the CBN in the name of going abroad for official assignment,” he further alleged.

Asked if he knew anyone or had bought from them, he said, “My ‘oga’ (boss) does not sleep,” adding that “he follows them around, sometimes he goes to their houses in Asokoro, Maitama to beg them to buy dollars. He traveled to Kano last time to approach somebody for it,” he pointed out.

According to information provided by the BDC operators, ministers, key personnel at the presidency, top politicians not in government but with strong links as well as traditional rulers mostly from the northern part of the country use their influence to buy dollars from the CBN even at the old rate of N170/$.

This must have informed the allegation of Sanusi, who, according to sources, must have spoken from vintage position.

“My boss told me he buys dollars sometimes at N300 and N380 depending on individual sellers,” another BDC operator noted.

The CBN while trying to prop up the naira few months ago opened dual windows and harped that the naira was floated to subject it to market forces.

Unfortunately, the national currency has continued to receive intense battering and fell to N406/$ few days ago at the black (parallel) market.

Recent reports said the naira has shed almost 40% against the dollar in almost a year, making it the worst performing currency globally.

And if that was not enough, Sanusi ran scathing attacks on the Federal Government handling of the economy in general and the CBN currency operation in particular.

“You don’t have to be an economist to know that any system that allows you to sit in your garden, and with a telephone call, make one billion naira without investing a kobo, that system is wrong. It is unsustainable”, Sanusi said of highly placed politicians and top individuals who use their influence to buy forex from the CBN and sell to make undeserved profit.

“And just so we are not always blaming the previous administration. We have also made mistakes in this administration,” he added.

“And if we fall into the same holes that we fell into the last time where the government is always right… If a policy is wrong, it is wrong. Nothing will make it right and it has to be changed,” the former CBN governor asserted.

Investigations based on findings from the BDC operators have shown that CBN top executives know about the whole dirty deals.

According to information, they are helpless as they cannot stop immense pressure put on them.

“Often, calls come from various sources that are highly placed. The major culprits in requesting for forex which they possibly resell are the ministers and highly placed presidency staff, who the CBN executives cannot ignore,” a BDC operator told Independent, lamenting that he was tired of begging these “people for forex.”

Few months ago, before the CBN floated the naira, there were allegations against a key aide to President Muhammadu Buhari, who had unimpeded access to forex as the nation groaned under forex scarcity.

The CBN had defended its position, saying it did not sell dollars to individuals but the aide while defending his dollar purchases said he did not breach any law as he did not buy above the threshold set by the CBN.

There has also been allegation of the CBN leaving its constitutional role of being the bankers’ bank to the buying and selling of currencies.

According to the BDC operator, who spoke with Independent, “the CBN flexible forex regime has not worked in our favour or the country but has become the conduit pipe as Emir Sanusi has said to influential people’s advantage.

“Banks don’t have adequate forex and so the demand placed on us is high. But for you to get it, you must be prayerful that one government’s official or politician remembers you and comes calling to sell what he has gotten for cheap from the CBN,” he said.

https://www.nairaland.com/3316721/buy-dollars-government-officials-bdcs

Like i said earlier the era of FUEL subsidy is gone, We are now in FOREX subsidy era, So don't be left out.

*ThE OcToPuS*

OBAGADAFFI:
If you decide to sell tomorrow, you will be selling @ loss

If you decide to average down at @circa N2:00k. you will have to wait till it gets to N2:00k.(if FBN BANKRUPTCY has not kicked in ).

If average down at @circa N2:00k, you will need to break even before selling.

All indicators are showing me you are trapped.

*ThE OcToPuS*

Well lets wait till dec/jan rally period which is my exit point to know if I'm trapped or not

OBAGADAFFI:
YOU PROBABLY FORGOT YOU MADE THE COMMENT BELOW.

Incase you don't get the drift. after 7months of wait FBNH @circa N3:30k was my only stock purchase for this year and i can ONLY average down at @circa N2:00k.

But 2moro if it decide fly good and fine likewise if by 2moro they decice to file for BANKRUPTCY which is very possible our mind is as well made up.

Thank you

*ThE OcToPuS*

Tritri:
FBNH i bought at 3:60 few month back.Now it at 2:90...Am Finished.just wondering if i took the wrong decision . I've started been harsh to my wife for nothing sake...my wife been asking me honey what the problem , and i dont knw what to say.

So you don't know that STOCKMARKET is a gambling business.

FBNH can still go for a killer SHARE RECONSTRUCTION or even file for BANKRUPTCY.

So if you ain't ready to loss your entire fund then stay away from FBNH and NSE Period!

locodemy:
FBN now #3.00.Lets see how investors will respond to this price.if care is not taken,i may set my entry @ #2.50.

i must be better than PETERICHY who bought at circa 3.30.....

Keep deceiving yourself, the ones you bought @ N3:45 where did you kept it

Good i bought my first batch @circa N3:30k and I will be willing to buy my 2nd batch ONLY @ circa N2:00k.

We don't chase stock rather we set traps for it

*ThE OcToPuS*

phetty:
The problem CBN wanted to solve by banning the banks might boomerang.

http://www.vanguardngr.com/2016/08/naira-crashes-n415usd1-ban-banks-lingers/

lingering dispute between Central Bank of Nigeria, CBN, and eight banks banned from participating in the inter-bank foreign exchange market, the local currency, Naira, has suffered further bashing, depreciating to N415/ USD1 yesterday in the parallel market, bringing total weekly loss to N20 per dollar.

phetty:
The problem CBN wanted to solve by banning the banks might boomerang.

Might boomerang or has boomerang

PETERiCHY:
If you are lucky to get US Dollar below N410 quickly grab your copy and thank me later.

It's already trading N420 here in Dubai and getting to N500 is not far-fetching.

This the ONLY flourishing business under this APC regime because the era of fuel subsidy is gone,

We are now in FOREX SUBSIDY era so don't be left out

*ThE OcToPuS*

http://www.vanguardngr.com/2016/08/i-can-sit-in-my-garden-make-billions-through-forex-without-sweat-emir-of-kano/

He described as unwholesome a situation where somebody pull through a connection and rake in billions of naira without commiserate effort.

He said: “With my background in the banking sector, and now a royal father, I can sit in my garden and make billions through forex market without sweat.

“This is how most of those you called billionaires made their money.”

http://in.mobile.reuters.com/article/idINL8N1B72SR?irpc=932

LAGOS, Aug 26 (Reuters) - Nigeria's naira was quoted at an all-time low of 412 per dollar on the parallel market on Friday as a dollar shortage persists, traders said.

Traders said some bureaux de change operators have been finding it difficult to access their forex account and get dollar supply after the central bank suspended nine commercial lenders from the market, putting further pressure on the local currency.

N500 here we come

PETERiCHY:
Don't be in a haste to sell bcuz dollar will still cross N500. Thank me later.

That has been my sole message since mid-2015.

Forex reserve has sunk from $32b where the confused APC govt met it to around $25b now while Buhari is busy with his oil exploiration in the northeast.

So nobody should blame Emelife rather enjoy the CHANGE you voted for.

*ThE OcToPuS*

If you are lucky to get US Dollar below N410 quickly grab your copy and thank me later.

It's already trading N420 here in Dubai and getting to N500 is not far-fetching.

This the ONLY flourishing business under this APC regime because the era of fuel subsidy is gone,

We are now in FOREX SUBSIDY era so don't be left out

*ThE OcToPuS*

http://www.vanguardngr.com/2016/08/i-can-sit-in-my-garden-make-billions-through-forex-without-sweat-emir-of-kano/

He described as unwholesome a situation where somebody pull through a connection and rake in billions of naira without commiserate effort.

He said: “With my background in the banking sector, and now a royal father, I can sit in my garden and make billions through forex market without sweat.

“This is how most of those you called billionaires made their money.”

megainvest:
Of all the possible sanctions CBN could have employed, they chose to put further pressure on the naira by stopping banks from accessing Forex! Sometimes you will begin to wonder if these guys think at all or if they are deliberately sabotaging the economy! Anyway, make I go change my dollar!

Don't be in a haste to sell bcuz dollar will still cross N500. Thank me later.

That has been my sole message since mid-2015.

Forex reserve has sunk from $32b where the confused APC govt met it to around $25b now while Buhari is busy with his oil exploiration in the northeast.

So nobody should blame Emelife rather enjoy the CHANGE you voted for.

*ThE OcToPuS*

PETERiCHY:
Had some WhatSApp chat with him few months ago.

I pray may his gentle soul rest in perfect peace and God to give his family the fortitude to bear the loss AMEN!


But like seriously why is it anything that comes in contact with BUHARI na died.

Nigeria economy dead.

OANDO dead.

Oga Morgan dead

NAIRA dead

NSE dead to mention but few.

Note: OANDO was still trading @ circa N18-N20 when Pa.Bubu took over now it's as good as dead

https://www.nairaland.com/3289863/photo-buharis-director-information-justin.

President Muhammadu Buhari on Monday mourned the death of the Director of Information, State House, Mr. Justin Onuorah Abuah, who died on Sunday in Abuja.

Rest in peace

PETERiCHY:
Had some WhatSApp chat with him few months ago.

I pray may his gentle soul rest in perfect peace and God to give his family the fortitude to bear the loss AMEN!


But like seriously why is it anything that comes in contact with BUHARI na died.

Nigeria economy dead.

OANDO dead.

Oga Morgan dead

NAIRA dead

NSE dead to mention but few.

Note: OANDO was still trading @ circa N18-N20 when Pa.Bubu took over now it's as good as dead

https://www.nairaland.com/3289863/photo-buharis-director-information-justin.

Rest in peace

PETERiCHY:
From 1st to 3rd quarter of next year NSE will be on slow and steady decline.

Those that think they are more optimistic than nature should remember that this govt no1 agenda is to fight CORRUPTION and those corrupt elements will start selling off their assets to bail out or go for plead bargain.

All this development will surely have a negative effect on the stock market.

So relax, sit back and plan wisely on where to invest your hard earned money because bcuz 2016 will be a terrible year for foolish investors.

Betterstill you can buy a piece of land from Pa.Emma.

As per the STOCK MARKET it is capital ZERO for now.

*ThE OcToPuS*

I made above predictions on 28th Dec 2015 when dollar was still N250.

Now STOCKARMEGGEON is teaching alot bitter lesson

STOCKMARGEDON has also disorganized the we are making money this year group and they ve all gone into hiding

While the discerning investors are now enjoying the Dollar ride as well making the real money

*ThE OcToPuS*

crowntoro:
I don't want sound like a pessimist, do you think this country can get better?

Hassana Awolu, Food vendor, Kano road, Kaduna state

“I don’t like talking about Baba Buhari, because if you are not careful people will insult you anyhow. There was a day that I quarrelled with my husband and he almost beat me up in the presence of the children. He was one of those who campaigned for Buhari, but now he hates to hear that name.

Uduak Abigel, Port Harcourt, Rivers state

“The change mantra of the Buhari led government simply means suffering. Change for me under this government is hardship, hunger and poverty”.

George Alechenu, human rights activist, Makurdi, Benue state

There is nothing like change, we are simply in chains because of Buhari’s lack on knowledge on how to run the economy. Buhari and his government have reneged on the promises they made to Nigerians. We are suffering and they don’t care.

Tabitha Markus, Trader, Sabo Tasha market, Kaduna state

“In 1984, I was nursing my four months old first baby, Kazah when Buhari and Idiagbon removed Shagari from power. I cannot ever remember being so hungry like in those days. We would queue for hours and days just to buy milk, rice and bread and there were soldiers flogging us. That year, people were stealing other people’s food while it was being cooked. I told these young boys shouting “change! Changi Changi!” that Buhari would bring hunger, but they would not listen. I can see another 1984 coming again. People are suffering. My shop is full of goods, I cannot sell, because people don’t have money. Please help us tell the president that people are dying of hunger.”

Timothy Odagbodo, Newspaper Vendor , Abeokuta, Ogun state

This change has really made positive and negative impacts, things are really changing as the slogan of APC. Mostly, the negative sides are the high cost goods. There is no money in the country and the economic crunch is crushing us.

Prince Emma Anyanwu, Abeokuta, Ogun state

“The government of President Mohamadu Buhari is a failure. It was the biggest mistake Nigerians made to have voted him to power. It is difficult for anybody of my age to think that Nigeria made the right choice with President Buhari. Nigerians are sick and pained. They are hungry.

Madam Ngozi, Mbieri, Imo state

The suffering in the land is becoming unbearable and most unbelievable. If the Buhari administration is not inundating us with the blame game, it finds itself announcing mind bugling sums allegedly stolen by people who served the Dr. Goodluck Jonathan administration. Nobody has so far been found guilty, but we have continued to suffer”..

http://www.vanguardngr.com/2016/08/change-now-means-us-nigerians-tell-buhari/

The CHANGE is getting REAL

(1st Samuel:8 verse 4-22)

8:4 Then all the elders of Israel gathered themselves together, and came to Samuel unto Ramah,

8:5 And said unto him, Behold, thou art old, and thy sons walk not in thy ways: now make us a king to judge us like all the nations.

8:6 But the thing displeased Samuel, when they said, Give us a king to judge us. And Samuel prayed unto the LORD.

8:7 And the LORD said unto Samuel, Hearken unto the voice of the people in all that they say unto thee: for they have not rejected thee, but they have rejected me, that I should not reign over them.

8:8 According to all the works which they have done since the day that I brought them up out of Egypt even unto this day, wherewith they have forsaken me, and served other gods, so do they also unto thee.

8:9 Now therefore hearken unto their voice: howbeit yet protest solemnly unto them, and shew them the manner of the king that shall reign over them.

8:10 And Samuel told all the words of the LORD unto the people that asked of him a king.

8:11 And he said, This will be the manner of the king that shall reign over you: He will take your sons, and appoint them for himself, for his chariots, and to be his horsemen; and some shall run before his chariots.

8:12 And he will appoint him captains over thousands, and captains over fifties; and will set them to ear his ground, and to reap his harvest, and to make his instruments of war, and instruments of his chariots.

8:13 And he will take your daughters to be confectionaries, and to be cooks, and to be bakers.

8:14 And he will take your fields, and your vineyards, and your oliveyards, even the best of them, and give them to his servants.

8:15 And he will take the tenth of your seed, and of your vineyards, and give to his officers, and to his servants.

8:16 And he will take your menservants, and your maidservants, and your goodliest young men, and your asses, and put them to his work.

8:17 He will take the tenth of your sheep: and ye shall be his servants.

8:18 And ye shall cry out in that day because of your king which ye shall have chosen you; and the LORD will not hear you in that day.

8:19 Nevertheless the people refused to obey the voice of Samuel; and they said, Nay; but we will have a king over us;

8:20 That we also may be like all the nations; and that our king may judge us, and go out before us, and fight our battles.

8:21 And Samuel heard all the words of the people, and he rehearsed them in the ears of the LORD.

8:22 And the LORD said to Samuel, Hearken unto their voice, and make them a king. And Samuel said unto the men of Israel, Go ye every man unto his city.



(There's difference between GOD'S PERFECT WILL and GOD'S PERMISSIVE WILL)

In the bible God use to raise judges to deliver the isrealites from time to time but their came a time, they got tired and started clamouring for a king.

They said they want to be like other nations and they nominated Saul who happen to be one of the tallest men in that era to their king.

Though Saul wasn't GOD'S PERFECT WILL but GOD allowed it, thats a case of GOD'S PERMISSIVE WILL...

On the long they KNEW what their EYES saw....

In the same vein since independent God in his infinite mercies has been raising judges to deliver Nigeria from time to time till it got to a point some unscrupulous elements among them instigated the masses and they started clamouring for CHANGE so they can be like other nations e.i Zimbabwe & Venezuela..

They nominated General Bubu who also happen to be one the tallest men in this era as their president,

Even though his not GOD'S PERFECT WILL but GOD as well allowed it,

Now the rest is history.....

*ThE OcToPuS*

I vividly recall on one of my trip to Singapore in 2008 when dollar exchange rate was still N120.

Then $2500 will give you a paltry of N300k now the same $2500 @N400 exchange rate will give you N1million.

Is Naira not dead

Some people should better stop thinking through their anus and face the reality.

Rexceedo:
Met him on several occasions. He's too jovial, don't even know he is the owner of MCG.
RIp to the Dead!
Solace to the Bereaved!!

Had some WhatSApp chat with him few months ago.

I pray may his gentle soul rest in perfect peace and God to give his family the fortitude to bear the loss AMEN!


But like seriously why is it anything that comes in contact with BUHARI na died.

Nigeria economy dead.

OANDO dead.

Oga Morgan dead

NAIRA dead

NSE dead to mention but few.

Note: OANDO was still trading @ circa N18-N20 when Pa.Bubu took over now it's as good as dead

Born2berich:
You want people to listen to your advice when even you didn't heed your own advice. I thought you made some FBNH purchase about last week ago?
Abi, no be your post be this?

I made that post 2wks ago precisely on July 29th, i keyed in my trades @N3:30 while FBNH later touched N3:27k that very day so no controversy.

I only advice those on same ship not to expect any significant rally till after September period,

Most knew when I disposed all my FBNH @#6:20 mid-last year.

Some even said their father need to see a doctor bcuz of the decision I took.

Now we all know who needs the medical check up

Well repurchasing FBNH at almost half of the price I sold earlier is the true definition of GIVEAWAY PRICE

*ThE OcToPuS *