₦airaland Forum

NotMagicBishop:
Thank God you now realize that his naira redesign was a gimmick to mop up all that excess liquidity.

Isn't this what I was saying as early as November 2022 when the idiot suddenly announced his currency redesign ?

The idiot bastardised the naira and was attempting to cover it up and you some how see that as a good thing ?

Fools everywhere for that una biafra

If you can't reason outside bigotry and tribalism them you must be the fool..no one brought Biafra into this

LikeAking:
That’s not the point he is trying to pass..

Although his strategy is too harsh and will have many consequences..

Investors will flee..

And monopoly will be the other of the day..

There is no point in the first place..he is trying to say..we should carryout our transactions in naira including foreign ones which is impossible..

The global economy is dollarized (USD).. you can't escape it...the only country that has done that is Russia and it's because they have something to offer the world that if they hold back..we are all doom so it made sense for people to begin sourcing Russia currency to buy their products (gas)..

Remind me anything Nigeria has to offer

Same here

https://www.youtube.com/watch?v=EvizLZBJh5g

Datedoboy:
I had mentioned it in my previous post that it will get to NGN1,000 per Usd if drastic measures are not taken.

Again, I am saying it here that it will get to 2,000 before 2025 if we don't take these drastic measures.

These measures will make the Naira appreciate to at most NGN500 to a dollar in the short term and in the long term, NGN100

What are these measures? I will explain further but note that this is not about Exports.
Even if we export more than China today, the NGN will still decline further. How do i know this?

If you do your research, you will discover that Nigeria as at 2023, exported and earned more FX more than several countries and yet the currencies of these countries are stronger than the Naira.

So don't let anyone sell the idea that our economy is import dependent that is why our currency is falling. Even if we ban all imports and continue with (or increase) our current export, the Naira won't appreciate

A simple question you can answer is, when we banned rice importation, did our currency stop falling? No !!! So sit back as we take a dive to 4 policies which WILL make the Naira appreciate.

1. All domiciliary accounts must be closed.
Can a Canadian or US bank open Naira account for you? No! So why do we open Dom. Accounts for our citizens ? Now you may say what of imports? How do we pay for our goods in foreign currencies?

The answer is simple. Credit your account in Naira while your bank pays the USD or GBP equivalent on your behalf at official rate determined by CBN

2. Ban deposits and withdrawals in foreign currencies and convert all inflows including export proceeds in foreign currencies to Naira (again at official rate determined by CBN).

You don't need to stop people who sell at black market or hoard the USD. Let those who hoard the dollar keep it but once they know that after a said date, you can't deposit or hold your physical dollar, they will be forced to go to the bank to deposit it. Anyone found with physical hard currencies after the deadline, must be arrested

This policy alone will make the NGN appreciate to maximum of NGN600 after first two weeks of implementation and will mop up hidden/excess dollar in the system.

This policy will also discourage buying usd from the black market because there won't be any physical dollar to buy.

3. Increase interest rate for fixed Naira deposits to a minimum of 10%. This will encourage saving in Nigeria. Let a Naira 4 Naira scheme, replace the previous Naira 4 dollar scheme.

4. Increase interest rates on foreign currency deposits to 40% of principal amount if option 1 is not possible and convert all inflows to NGN without the option of collecting foreign currencies at the counter. You can't spend USD or GBP in Nigeria so why do you want to collect your inflows in foreign currencies?
This policy indirectly stops the black market arbitrage.

As the Government has floated the Naira, if these measures are not put in place, NGN2,000 to a dollar won't be surprising to me.

I am just a concerned Nigerian and i am open to constructive criticism.

Lol...I stopped reading at no. 1

May I ask..if I deposit my account and what to pay a service in dollars..where does the bank want to get the dollars to pay on my behalf..


You talked about government banning rice which had little effects...

Have you checked the top 10 commodities we import that drys up our reserve..

Are you aware we don't even spend up to 10% of our reserves on rice..so how do you expect a substantial effect..

We spend at least 45% of our foreign exchange to import refined petroleum products... End that completely and see that the pressure will reduce drastically..


Dollar is the global means of exchange..no body will accept naira for anything..
Even the Chinese do many of their foreign trade in dollars

loswhite:
This is the problem of Nigeria. My case will be different no matter the hardship...lol this is what we pray for everytime...Evil prayers. There is nothing to be happy about a falling naira even though you earn in dollars.

More wisdom boss

NotMagicBishop:
Courtesy of that bastard Emefile who printed over #30 trillion naira from thin air to float the dissatrous bandit government of Buhari.

So when he decided to recall all the nairas ..to reduce circulation..what happened...
See..the problem is ..we are an import dependent country...dollar is the global means of exchange..we need to produce more for the world to earn enough dollars simple...right only oil does that and it isn't enough

simplesearch:
If she felt so, why not engage the company first and receive necessary information before coming online to discredit a well known brand. Some people find it so difficult to follow right channel in relieving their grievances, they take liberty to talk carelessly as a real big deal.

engage a Nigerian company.. and you think the Nigerian company will act on it because on person called.. what she did isn't wrong . and its the best way to get their attention..

supporting the fact that she got arrested for such proves how rogue you are.. so she doesn't have right to speak of a products she bought with her money cuz na her brother?
if it is Dangote that owned that company I can bet you won't say such

erico2k2:
FG Please import your own cement make we rest

with scarce dollars that is 1k

aklid:
BUA’s dropping to 3500
And some people that are hating for things to be better are hoping for it to reach 9000k?

I always say the worst Nigerians that makes us suffer most, are the dealers of all these things we use, they’ll just feel like hiking prices just like that and can do it, no one will stop them, no one

BUA has not dropped anything..

All na wash..let them drop their price first..
We are tried of hearing.."we will"

We are waiting..
Meanwhile..
These are some of his strategy..
Gas is the future of Nigeria

https://www.youtube.com/watch?v=j0TagnJuPZI

DTeekay:
what do they get in return? Unfettered access to our solid minerals? Or what?

They are paid back..

The 85% borrowed for Abuja to Kaduna has been paid back..
Lagos to ibadan is pending..

Kaduna to kano is FG funded..
Kano to maradi is funded by loans (85%) but this time not from china

Hmm

jahsharon:
Shebi useless Rotimi Amaechi left the railway undone while building Lagos-Abeokuta-Ibadan-Kano railway and the Warri-Itakpe-Ajaokuta railway. Such a useless vagabond like Olusegun Obasanjo

Amaechi was a minister not governor..
He is under a president..Buhari prioritize Lagos to ibadan .same as the northern rail..

A minister from a state doesn't give him the power to direct projects to his state..it is an appointment..use your brain

DTeekay:
I doubt if Amaechi can finish anything, he just starts projects and abandons them, making huge losses. Monorail, Former UPTH, Transport University, Railway projects worth trillions of naira all gone.

Why on earth should a Chinese company provide 85percent funding for a project in Nigeria. What are they getting in return?

If you believe Chinese will do something for free for you, you are ignorant of their ways.

They provided 85 percent of the money that built Abuja to Kaduna and Lagos to ibadan

Yankiss:
When you give job to China Civil Engineering Construction company, do you expect quality materials? We have capable engineers and engineering firm. Buit any job of note is either ceded to Chinese or other foreign companies. 45% completion in one year of three seems to be fast enough. The challenge here is the identified poor materials!!!

Mention the capable indigenous engineering firms that can beat the Chinese or German...

Or mention any one better than CCECC, RC, Julius Berger..
I am waiting ..


Most Nigerian contractors are completely incompetent.. Umahi lambasted one who ironically is an Igbo man that owns it the company and was given contract to build a road in his own state in Igbo land..go and see the rubbish they did..

When it comes to providing infrastructure..we should stick to quality and competence first..

The reason the Chinese are slow on that project is because there is no money..

MikeofKd:
Money doesn’t necessarily bring happiness ,it’s just important to have it to solve basic problems. but you think it does cause there’s probably a lot of stuffs you want to do with money.

Well think about it this way , after getting all the money and you’ve done everything you’ve always wanted , you start to feel empty ,it’s like you’ve seen it all so there’s no excitement anymore , u begin to get tired of luxury easily.

That’s why you see the likes of Elon musks , Dangote , Otedola , money doesn’t seem to excite them at all. But they understand that it important to have it.

Micheeew ...rest

I buy big bread and ground nut with pepsi ..and take avoma at some intervals during the trip so that I don't suffer motion sickness and I sleep

Tinubu literally negotiated Sunday Igboho.. they both had several meetings..and Igboho literally respects him..so.. definitely won't be hard to buy him.. Sunday igboho was also in politics..he worked for fmr gov Rasheed Ladoja ..so we all know the game..

Besides..here are some of the power projects ongoing in Nigeria under his tenure


https://www.youtube.com/watch?v=EvizLZBJh5g

Chuknovski:
This boy's demise is really raising dust, there's more to it we don't know, he must have been a child of glory but darkness stole him

Really??

7bucklife:
It's the job of the efcc. Since it's the police. She would escape and bribe her way thru

It is job of the police..
They have right to arrest anybody who goes against the law..fraud and drug inclusive..

EFCC is only established to fully focus on cyber crime ..fraud etc..they are restricted to cases they can handle but the police is empowered to handle all cases so far it is within Nigeria

AmazingELixir:



But thought the Super tucano that the king of Lies The Legendary Lai Mohammed puffed and bragged about days unending would have silenced boko haram. ISWAP and the rampaging bandits..

No one hears about Super tucano anymore now it is ATAK, DA 62, CASA 295 etc we are hearing..

Anyways good luck to them....they sha make sure they deploy the most brutal of those new platforms to the south east, Ipob miscreants parading as UGM and ESN need to be wiped out.

If they can even target some of them on this platform better and more importantly they shouldn't forget that Bushmeat Simeon Ekpa.

But after the procurement..
Boko and iswap boys tuned down a bit ..

Bandits are still in rampage..
These should be top priority..

SE situation is not one that can be solved with guns.. the people do not admit UGM as an enemy

Segzy19:
Inasmuch as that girl who was killed by the BRT bus driver didn't get justice, forget it, nothing will come out of this investigation.

People are so fake and hypocritical. When that girl, Bamishe was killed by the BRT driver, people didn't make this loud noise. Now that a celebrity died due to his bad association, everybody is shouting Mobhad Mobhad upandan... I no even sabi Mohbad, Naira Marley, Sam Larry, Bella Schmurda et al if not for this matter. I listen to better and soul-nourishing music.... not all these noisemakers

Make Mobhad rest in peace jare.
Comfort to the bereaved 🙏

But the driver of the bus was apprehended and jail

lightwind:
Olonfo!
Is it only the Yorubas and the Hausas that supports APC party ??

Mostly Yoruba and Hausa .the few igbos are inconsequential..

Pdp..Yoruba and Hausa have substantial amount of members..they are also very flexible..same with south south..

Igbos attach hatred especially for the north to everything that's why they are very rigid..

djon78:
Still you didn't answer him the question
Rambling up and down


What advantage has the Northerners, Yorubas or the ijaws that have produced it over others that didn't produce it?

All these talks is for those eating from the crumbs

Anyone doing well for themselves don't even caee

If south east making President matters less..then y'all should cry fowl every election of marginalisation..

This isn't a matter of who's tenure does good for the country.. it's about ensure regions have a sense of belonging by attaining high post of leadership.. stop pretending that it is irrelevant..but will complain later of being marginalized

Chinjo2:
Get out. You are a traitor. You are cursed. See how you keep betraying your people just because of what you want to eat. People like Ogbonaya Onu are members of APC but they spoke truth to powers on the need for power to go to the south east but you could not support him because you are meant for the gutters.
Shame on you.

But that's is the problem..Igbos think it is an entitlement that is given irrespective of how they act..no sir..it doesn't work that way..

Igbos need to be more committed to the Nigerian project and build alliance..

All this.. betrayal..bla bla. Won't help..
When Umahi left for APC.. he was seen as a betrayal..just for moving to APC...how dumb.. igbos view APC has Hausa Fulani party ..they attach hatred to northern tribe to everything that is why they don't like co existing..and any Igbo who takes a step will be hated by the tribe .. isn't that foolishness.. how many igbos are in APC that they will just dash them ticket..for where..

Check every political party..Yoruba and the northerns are very saturated there..they are also very liberal..but igbos pack themselves and support inside one party.. so how do expect politics to favor them?...

successmatters:
It won't work.

Is it not Nigeria where every government app is rubbish?

Their previous NIMC apps works well though

Wahala

same as FUAM or should I say JOSTUM ..
Their EEE accreditation is expired..
Meanwhile..see the top 5 amazing power projects currently undertaken in Nigeria

https://www.youtube.com/watch?v=EvizLZBJh5g

Waste of public funds

Top 5 Mega Power Projects currently in Nigeria

https://www.youtube.com/watch?v=EvizLZBJh5g

RevDesm0ndJuju:
Like how you all defended msemoma

Thank you Jare...many of the comments are just hypocritical..either way..her punishment is well deserved

Hopefully

Meanwhile these are the top 5 power projects currently in Nigeria

https://www.youtube.com/watch?v=EvizLZBJh5g

Gwagwalada power plant

Gwagwalada power plant is a new gas powered plant facility situated in the FCT. it runs along the AKK gas power project which is also under construction. Its capacity is 1350MW. the president earlier flagged of its first phase which when completed will deliver 350MW of power.