₦airaland Forum

CYPRIANJUNGLE:
The person you were arguing with has more knowledge than you now listen;

As a worker you earn 35k monthly in the past 6yrs when naira was $1-N200 and a bag of rice was sold at 8k, fast down the line everything skyrocketed now you earn 50k and a bag of rice is 30k because the exchange rate is now $550

How would you compare yourself with someone who's money rises each time $ gains strength to someone who's earning in naira and hardly gets salary uprise

It's obvious you don't even understand the crux of argument.
We are talking about the purchasing power of naira and the cost of living in Nigeria.
We were not comparing one who earns dollar to who earns in naira.

Low naira value against the dollar is better than high naira value.

When the naira is low in value exporters gain but when the naira is high importers gain

We all agree it is better for Nigerians to be exporters than importers, right?

Abel7777:
http://www.signalng.com/naira-hits-550-to-a-dollar-efcc-warns-banks-against-forex-fraud/

Dimitarr:
Before i insult you, lemme just calm down. Is this North korea or China If the country and the economy was good enough you wont need to tell Nigerians not to change there money to foreign currency. But please try and analyze from the standpoint of a father/mother running a family.
As useless as Jonathans administration was dollar was still 300 naira. Infact before that it was actually i think 200, then 250 and finally 300. Cost of living was not this high, we still had foreign reserve. You could still buy full loaf of bread for less than 100 naira. You could actually make a living off 30000 a month in jonathans regime were stealing and unaccountability was the orderof the day. He wanted to remove subsidy buhari, Tinubu, lai homammed all campaigned that no, it was a ploy to siphon funds. If he had done that maybe we would have been in a better place. Buhari campaigned on building a couple of refineries that would at least reduce the need for humongous foreign currency we were using to buy our refined crude oil back.
Under this hitler of a president nothing has worked.
You know the reason why people change there salary to naira ? Because they could see our naira loosing value from afar. Infact alot of people just change there salary to USDT and keep on binance or FTX not to buy crypro but to ensure their money still holds value. 30000 2 months ago in dollar is not the same now. At the end of the day everybody is trying looking for the best way to save and get the best value for money from their small salary. You cant tell a common Nigerian not to convert there money to dollar or pound when they are making money from it.
I challenge you to change 100k to dollar now and see if at the end of the month the value wont increase. How can you now tell a grown ass man who is not a poisoner and not in China or North Korea not to do what is best for their future because the clueless government has scattered everything with nepotism and inadequate appointments

You’re the saftest human being alive. In fact, your opening statement says a lot about you. You’re a gutter thug and you lack any sense. Free data doesn’t equate to sense. If commonsense doesn’t tell you that governments all over the world are in charge of economic policy then you need to go and register in a secondary school for basic economics. How to think your imaginary rights to save in any currency of your choice is of greater importance than the need to have a sound economy reveals your selfishness and gross ignorance.

Besk:
You’re the saftest human being alive. In fact, your opening statement says a lot about you. You’re a gutter thug and you lack any sense. Free data doesn’t equate to sense. If commonsense doesn’t tell you that governments all over the world are in charge of economic policy then you need to go and register in a secondary school for basic economics. How to think your imaginary rights to save in any currency of your choice is of greater importance than the need to have a sound economy reveals your selfishness and gross ignorance.

Baba all what i explained above is what common nigerans are worried about, not all this this English you are spewing out. How does your policies affect iya basira in her restuarant when bag of rice has doubled, how does your polices affect chukwudi when cost of transportation has doubled from east to west. How does your polices affect foreign companies when your polices are haphazard and not thought out. You gave license of bike hailing companies 6 months ago, 6 months later you banned all bikes. Since you are wise, how has policies they are enacting made Nigerians life better, has it brought the cost of food down, has it made transportation easier. Drop that colorado you are smoking and go outside for fresh air.
So when USA makes polices are they made to make the life of the citizens better or aren't the citizens supposed to be the primary reason for the policies.
You banned BDC which was commendable but what was the plan to ensure exchange don't skyrocket after that, what was the thought process.
It seems you just chun out policies on a try and error basis with no regard how nigerans would react and receive it then you send your attack dogs(lai mohammend, adesina and adamu) to come and defend it and make a mockery of us.
Hehehe, i have heard it all today so you push out polices that don't favor your citizens and you are here defending rubbish that the government i responsible for the policies. Ghana no be country abi, South Africa no be country abi nigeria must be the first country in whole wide world.

Yoighaman:
Depreciation of the Naira against the USD is a major advantage for those in diaspora....one of the reasons why to Japa is beginning to make sense.

my brother the thing dey sweet my belle whenever I ask black market exchangers here and they keep giving me high exchange figures...

CountVersailles:
The market demands that people like this will always exist. It's the job of the government to deploy economic policies that will punish such people. Any draconian law that doesn't solve the root problem, but instead attempts to impede speculators, will only make things worse. With sound economic policies designed to punish speculators, nobody will tell them before they convert their dollars back to naira.

Have you see any law dat works in Nigeria except the one's meant to favor them the govt and their elite?

I foresee that we are still going to buy a sachet of pure water for #200 under this useless Buhari maladministration.

Mystic216:
Advantage for we that’s making money in dollars
That one concern una

oli tell you . Me dey even pray for it to go up more. But my concern is its really affecting commodities in the country.

Sysdatek:
Wetin concerned me
Usdt and usdc for crypto
Fck banks
The only money I can put in a Nigerian bank is food money
Useless fraudsters in suit
The naira is also dead and buried

Which wallet do you use? Binance spot wallet?

EndBuhariNow:
my brother the thing dey sweet my belle whenever I ask black market exchangers here and they keep giving me high exchange figures...

LOL...one man's curse can be another's blessing....

Yoighaman:
LOL...one man's curse can be another's blessing....

exactly

Who says buhari is not working?

Enyimbamercedes:
Hmm...time to sell some crypto to get some valueless Naira.

You see why saving your money in Naira and Nigerian Banks is pointless. Since January, I have stored money in cryptocurrency across different tokens.

Today i have not only preserved the value of my money but also made one 13,000% in profits. Plus i bought the currency in the low 400's and today i can swap it for 550.

Fair deal

please teach me how to trade nah.. make I dey make money too

taiwofawole:
Blogging still pays in dollars �, see the cost of hosting , creation and monetising your blog to start earning via the link below

https://www.nairaland.com/4161635/business-cost-creating-blog-website

Invest in blogging today and thank me later �

how

taiwofawole:
Blogging still pays in dollars �, see the cost of hosting , creation and monetising your blog to start earning via the link below

https://www.nairaland.com/4161635/business-cost-creating-blog-website

Invest in blogging today and thank me later �

How?

1000 soon

Mystic216:
Advantage for we that’s making money in dollars
That one concern una

e no concern you coz all your loved ones earn in dollars ba? Continue

Mystic216:
Advantage for we that’s making money in dollars
That one concern una

Please, show me the way na...

Litigant:
please teach me how to trade nah.. make I dey make money too

I’m not a trader. If you see my post, I only save with it by buying crypto and holding mid to long term.
I don’t know how to trade and I’m not going to try it! My post was about finding alternative ways to preserve the value of your money rather than keep it in your bank account for Meffy and Bubu to destroy. This is my way

Dimitarr:
Baba all what i explained above is what common nigerans are worried about, not all this this English you are spewing out. How does your policies affect iya basira in her restuarant when bag of rice has doubled, how does your polices affect chukwudi when cost of transportation has doubled from east to west. How does your polices affect foreign companies when your polices are haphazard and not thought out. You gave license of bike hailing companies 6 months ago, 6 months later you banned all bikes. Since you are wise, how has policies they are enacting made Nigerians life better, has it brought the cost of food down, has it made transportation easier. Drop that colorado you are smoking and go outside for fresh air.
So when USA makes polices are they made to make the life of the citizens better or aren't the citizens supposed to be the primary reason for the policies.
You banned BDC which was commendable but what was the plan to ensure exchange don't skyrocket after that, what was the thought process.
It seems you just chun out policies on a try and error basis with no regard how nigerans would react and receive it then you send your attack dogs(lai mohammend, adesina and adamu) to come and defend it and make a mockery of us.
Hehehe, i have heard it all today so you push out polices that don't favor your citizens and you are here defending rubbish that the government i responsible for the policies. Ghana no be country abi, South Africa no be country abi nigeria must be the first country in whole wide world.

You’re both a waste of space and a waste of time.

For someone who seems to think that just because a policy was implemented by government, that same government must leave it running and not change it even when it becomes clear that the policy is erroneous and injurious to the economy?

You are obviously very high on that thing you always smoke. STOP IT BEFORE IT RUINS YOUR LIFE FULLY!!!

Besk:
You’re both a waste of space and a waste of time.

For someone who seems to think that just because a policy was implemented by government, that same government must leave it running and not change it even when it becomes clear that the policy is erroneous and injurious to the economy?

You are obviously very high on that thing you always smoke. STOP IT BEFORE IT RUINS YOUR LIFE FULLY!!!

You really have been brainwashed into supporting mediocrity and having an excuse each time. Stockholm syndrome. So a country of 200 million people should be used for trial and error. Like really and somehow i am sure you have a job and people working under you, people's destines and career's depends on your actions and you are using it for trial and error.
so this government could not get capable hands to do the dam job correctly from the start.
Like you made promises of making 1 dollar to 1 naira and we are at 550naira to a dollar and you have the audacity to say they will change when it is not working. Like is this a 2 man business this government thinks they are running.
I cant believe the people i am sharing a country with.
See defense of stupidity...I am shocked

HeadNigga:
e no concern you coz all your loved ones earn in dollars ba? Continue

Only our eldest son is making his money in Naira and it’s not affecting him. All his goods are directly imported from China and Dubai
So calm down

Krismas:
Which business be dat ba yi o? FUSAD another MMM loading??

Crypto sir

Mystic216:
Only our eldest son is making his money in Naira and it’s not affecting him. All his goods are directly imported from China and Dubai
So calm down

you sure aren't an economist student if you say it's not affecting him

Dimitarr:
You really have been brainwashed into supporting mediocrity and having an excuse each time. Stockholm syndrome. So a country of 200 million people should be used for trial and error. Like really and somehow i am sure you have a job and people working under you, people's destines and career's depends on your actions and you are using it for trial and error.
so this government could not get capable hands to do the dam job correctly from the start.
Like you made promises of making 1 dollar to 1 naira and we are at 550naira to a dollar and you have the audacity to say they will change when it is not working. Like is this a 2 man business this government thinks they are running.
I cant believe the people i am sharing a country with.
See defense of stupidity...I am shocked

I knew from your first write-up that you’re a school dropout, most likely a primary school dropout because if you went through even Form 2 in secondary school, you’d have been taught basic economics and your utter ignorance of simple economics wouldn’t have been so disgracefully put out for all to see.

I only hope your children don’t get to read your unlettered and illogical tosh. If they ever do, they must ensure their friends don’t get to read about it, otherwise it’ll be too much of a disgrace to your family name.