jedisco:
People should learn to look beyond their circles....

It was on this thread that some insulted youths that came out during end sars protests calling them lazy because their mates bringing in container from china. Some said they're not bothered cos their money is in TBs. It was also on this thread that someone insinuated that the solution to Nigeria's problems is to let the poor people die....

An economy is a sum of its parts....

Its like someone saying no need to provide free and compulsory education for the out of school kids in Kano bbecauseDangote is paying millions for his kids in same Kano...

During the civil war, some Igbos ate fat off it... That did not mean that millions of Igbos were not left desolate. People have become millionates due to the insurgency in Borno... That does not mean millions haven't paid dearly for it.

What is going on in the north today is evidence that if the child next door cannot get good education, that cancels out whatever education you can provide for your child.

Well said. Very well said

maishai:
https://www.nairaland.com/6746495/eatrich-investment-fails-pay-billions

I keep telling people, When you understand the nature of agriculture you will never fall for this......,,

To newbies who have never travelled and enjoyed some stay in the village know this, a good tecno touch light phone cost #12000, that is the cost of a bag of corn at owode market in Ogun state, A typical Nigerian farmer on the average makes this on one plot of land after 3 months of hard work..........

When we see okada riders, house boys and girls, smugglers, cleaners littered all over Lagos Abuja and other major cities, This jobs are still way way easier than Agriculture..........

If it were this easy most cities would be depopulated in a years time

We tried to help those who cared to listen to us, the red flags were obvious to everyone except those who turned a blind eye to them

ojesymsym:
How does this work?

He financed the purchase and storage of an agricultural commodity during it's season and then sold it during off-season when prices have risen.

The business is not online but offline. He has someone who manages the purchase and storage and he goes by to inspect and take stock till they are ready to sell.

Willie2015:


Coy like Nestle are built to make profit as a corporate entity.....
Local content dev/CSR is just step forward to give back to the society....
FG cant abandon its core responsibility to Nestle and other corporate entity......
FG should provide the infrastructure and enabling environment......
Biz will thrive....
On the milk issue... the direct beneficiaries/target of the WAMCO program are the Fulanis....
Thats why the program is promising in Oyo state and its environs...
Take the Fulani out of the equation, that program is dead...
Ekiti govt even had to import over 200 dairy cows from the US alone .
Its not available....
An F1 cross of Friesian dairy cost over N600k...its also not readily available for supply...
U still have other inputs like land, building, cost of feeding of these cows and mgt...
I ve visited WAMCO Iseyin office ....I ve done the maths ...
U will not breakeven for a long time with high cost of inputs in Nigeria.
Simply put...our products are not competitive in the market...
As long as the above hold, coy like Nestle will be force to bring cheap imports,,,
Rather than establishin production base in Nigeria.
Go and read about the Zimbabwe farmers in Kwara that closed their dairy milk farm..
to start a broiler farm.....
D value chain is simply too chaotic for business to thrive....
CBN can only do little if FG refuse to create the enabling environment ...
My 2 cents.

I agree that the FG (incl the CBN) needs to do more in providing an enabling environment... Part of that could be to arm twist multinationals into backwards integration like it's done in every country... Western nations are still fighting to get jobs their multinationals had moved to China back..

That Fulanis benefit from Wamco inititiative is equally as good as anyother group benefitting.. Fact is that it doesn't stop there.... Forex (no matter how little) will not be wasted on importing that milk, those herders will not roam their cows far hence reducing clashes....e.t.c The whole nation benefits...

Nigeria has a lot of challenges, but there's always a way to start making progress... If the only viable means by which Nestlé can operate in Nigeria is by importing milk (which is what any trader can do) then their continued stay is detrimental to the nation and the government should ease them out and not give them cheap forex. I wouldn't mind Dangote and a few indigenous coys taking over that sector... At least, he'd search out a way to ensure good degree of local production

Talking about how macroeconomic policies can be far reaching....

A while ago, when CBN in search of forex noted how significant foreign remittance was moreso with FDI reducing, so they looked to harness it.

They wanted to streamline all remittance to ensure the actual forex was transacred and not left abroad.... Not a bad idea

First they placed some restrictions on crypt0 as it was a good route of remittance. Next, they banned account of remittance companies and mandated them to go thru specific routes...

The new rules meant that for anyone living in Europe looking to send money back, the person would;
first convert their currency to usd
look for someone back home with an account in the required bank and adequate ID to send the forex to
That person would then withdraw the usd, sell it (likely to bdc) and come back to deposit the naira...

This new process was supposed to replace the previous process whereby folks could send money back with the click of a finger...

It was obvious it'd fail....
CBN then moved to incentivize folks by giving free naira for every dollar sent thru this route... Again, it failed as the market rate quickly adjusted.. They did not realise that doing that was effectively devaluing the naira....

Now what happened to folks in diaspora was that when they saw the new hurdles in sending back money, they resorted to other means. The young tech savvy who previously were not into crypt0 decided to use it for remittance, the older folks used smaller but trusted groups or persons who were still largely remitting via crypt0...

The result was that while the remittance (via official channels) has dropped by about 25% over the last year, Nigeria linked Crypt0 transactions has risen significantly over the past year despite the ban


CBN seeing all this has now decided to introduce an e-naira... I.e a crypt0 version of naira to make remittance straightforward...

So the point is, a CBN policy that was supposed to discourage Nigerians from using crypt0, boomeranged and ended up driving more Nigerians to use it... Not only citizens but also the CBN.... All this within a year

My question will then be... Did anyone at CBN really think that introducing such bottlenecks with remittances was going to work?

Talking about the enaira....

Its interesting that one year after CBN sponsored a campaign to brand crypt0 users fraudulent, they seem to be in a hurry to issue one...

Their enaira would be equivalent to the naira hence hold same value as it and be a legal tender...

Now while I can't criticize the idea and would rather watch and see how it progresses, but then, even as a crypt0 enthusiast, my concern is how quickly it was put together... It's obvious CBN wasn't thinking of this a year ago and seemed to get there in desperation...

First it seems the company in charge is actually a foreign one.... whoever handling this is same as handing over our mint to them. Such programs especially when government backed should have proper security in place... One of those is by ensuring they're home based if possible... That way, the nation has some regulatory control over them. A foreign company is subject to the laws of their home nation.

Also, unlike with paper fiat where printing paper money is expensive and takes time, with crypt0, a trillion naira can be issued in a day. Can the CBN handle this adequately and not go on a printing spree??

Lots of countries such as China have been trialling out crypt0 based currencies for years and are yet to issue one publicly...but it looks like CBN came to their decision overnight... Hope they really looked into it and x-rayed all implications.. security, sustainability, impact e.t.c.... That said, though I still remain skeptical, it'd be good to see how the program goes- hopefully its a success...

That aside, who would have thought that a year after branding crypt0 users criminals, we are now the ones calling on CBN to apply caution with their hurried foray into the sector.... Goes to butress one fact I believe in- that just like the internet did with communication, crypt0 will change the face of finance and value transactions in ways we have not yet imagined

jedisco:


I agree that the FG (incl the CBN) needs to do more in providing an enabling environment... Part of that could be to arm twist multinationals into backwards integration like it's done in every country... Western nations are still fighting to get jobs their multinationals had moved to China back..

That Fulanis benefit from Wamco inititiative is equally as good as anyother group benefitting.. Fact is that it doesn't stop there.... Forex (no matter how little) will not be wasted on importing that milk, those herders will not roam their cows far hence reducing clashes....e.t.c The whole nation benefits...

Nigeria has a lot of challenges, but there's always a way to start making progress... If the only viable means by which Nestlé can operate in Nigeria is by importing milk (which is what any trader can do) then their continued stay is detrimental to the nation and the government should ease them out and not give them cheap forex. I wouldn't mind Dangote and a few indigenous coys taking over that sector... At least, he'd search out a way to ensure good degree of local production

The more I read about agriculture on Naira-land, the more I laugh at Nigerians, We reek too much with this entitlement mentality........ When you enjoy a tin of peak milk, Never fail to see the labor involved especially the skilled labor involved,It will take African countries about 50 years to catch up with their European counterparts, Do you know the quality of research going on in the netherlands in Agriculture, How many farmers or even extension Agents in Nigeria read peer reviewed Journals not to talk of the application of knowledge discovered.........

Coys like Dangote that have tried Backward integration in Sugar, I beg to ask The skills this move has created in Nigeria other than bringing in quack indians to man over Nigerians that operate machines ................

If a fulani cow can only produce 100liters of milk while a fresian cow from Netherland can produce 2000liters from the same feed, My dear its not the Cows fault but the People surrounding the cows

jedisco:
Talking about the enaira....

Its interesting that one year after CBN sponsored a campaign to brand crypt0 users fraudulent, they seem to be in a hurry to issue one...

Their enaira would be equivalent to the naira hence hold same value as it and be a legal tender...

Now why I can't criticize the idea and would rather watch and see how it progresses

Even as a crypt0 enthusiast, my concern is how quickly it was put together... It's obvious CBN wasn't thinking of this a year ago and seemed to get there in desperation...

First it seems the company in charge is actually a foreign one.... whoever handling this is same as handing over our mint to them. Such programs especially when government backed should have proper security in place... One of those is by ensuring they're home based if possible... That way, the nation has some regulatory control over them. A foreign company is subject to the laws of their home nation.

Also, unlike with paper fiat where printing paper money is expensive and takes time, with crypt0, a trillion naira can be issued in a day. Can the CBN handle this adequately and not go on a printing spree....

Lots of countries such as China have been trialling out crypt0 based currencies for years and are yet to issue one publicly...but it looks like CBN came to their decision overnight... Hope they really looked into it and x-rayed all implications.. security, sustainability, impact e.t.c.... That said, though I still remain skeptical, it'd be good to see how the program goes- hopefully its a success...

That aside, who would have thought that a year after branding crypt0 users criminals, we are now the ones calling on CBN to apply caution with their hurried foray into the sector.... Goes to butress one fact I believe in- that just like the internet did with communication, crypt0 will change the finance and value transactions in ways we have not yet imagined

I believe the whole move towards e-Naira comes as an after-mat of the END-SARS protest, I believe that after security Agencies Identified those spear-heading the movement, they used all their tactics in the book including cutting their funding source to Nigerian Accounts but hey many were now receiving big funding through Crypto, Go fund me, and co...........

This funds were not going through the traditional means that the CBN has controll over, It was just too anonymous hence the CBN and the Government were powerless during the saga......

They have learnt their lesson and are trying to control all Digital currency operations in the country.....The e-naira will just end up being an exchange to standard digital currency like bitcoin ........................

CAVEAT: these are my Opinions

I think at all PMA maturity there's always an auction to mop maturities and there's one maturity for 16th September even though theres was one this week. Just wanted to be sure reason l begged for issua ce calenders.

emmasoft:


Primary auction for Tbills is done Fortnightly.

I have a lot of questions about this e-naira but I'm unsure if there would be answers to that on this platform.

But it will be very beautiful to see what investment options will arise as a result of this digital currency. If i can exchange my USDT for enaira on Binance and then send the enaira to a treasury bill wallet or mutual fund for my family, i think that would be really beautiful.

It will kill the whole need to
send USD via world remit > USD arrives Nigeria > USD cash is withdrawn by recipient > recipient goes to sell to aboki.

But with this also comes the imperative for the CBN to immediately review their crypto regulations.

This is a long movie, I'm sipping my Coke and munching on my pop corn to see wetin Meffy plan to do.

maishai:


The more I read about agriculture on Naira-land, the more I laugh at Nigerians, We reek too much with this entitlement mentality........ When you enjoy a tin of peak milk, Never fail to see the labor involved especially the skilled labor involved,It will take African countries about 50 years to catch up with their European counterparts, Do you know the quality of research going on in the netherlands in Agriculture, How many farmers or even extension Agents in Nigeria read peer reviewed Journals not to talk of the application of knowledge discovered.........

Coys like Dangote that have tried Backward integration in Sugar, I beg to ask The skills this move has created in Nigeria other than bringing in quack indians to man over Nigerians that operate machines ................

If a fulani cow can only produce 100liters of milk while a fresian cow from Netherland can produce 2000liters from the same feed, My dear its not the Cows fault but the People surrounding the cows

The issue I have with is the perception that cos Nigeria has lots of issues, nothing can be done to make it better... So we should sit and buy products of other nations for hundreds of years...

Dangote is able to make cement in same Nigeria...same with air peace and aviation... It doesn't matter if its Indian workers or not... What matters is that progress is being made.

All being said, food production is a basic human necessity... If a nation of 200 million is importing staple food with no end in sight then such a nation is doomed...

I agree theres a technology gap between Nigeria and Western nations... But what I'm asking here is not same as asking a nation to go to the moon.... We don't need the latest tech to produce milk...the knowledge has been there for at least a hundred years... I've been to a number of farms in the west and I'm absolutely certain that virtually everything being done there can be replicated easily in Nigeria.

Indonesia and Malaysia picked up some of the knowledge on palm oil production from Nigeria... Not too many years back, Nigeria and those countries were in same boat... Today we're far behind them... My point is progress has to start from somewhere

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maishai:


I believe the whole move towards e-Naira comes as an after-mat of the END-SARS protest, I believe that after security Agencies Identified those spear-heading the movement, they used all their tactics in the book including cutting their funding source to Nigerian Accounts but hey many were now receiving big funding through Crypto, Go fund me, and co...........

This funds were not going through the traditional means that the CBN has controll over, It was just too anonymous hence the CBN and the Government were powerless during the saga......

They have learnt their lesson and are trying to control all Digital currency operations in the country.....The e-naira will just end up being an exchange to standard digital currency like bitcoin ........................

CAVEAT: these are my Opinions

Most people think that crypt0 is anonymous... Not really... Heavy crypt0 transactions can be tracked online... That's one of the issues the some Western nations have with crypt0- the lack of privacy...

If their intent was to control crypt0 tradind, the ban did the opposite of that... Let me give an example...cos crypt0 is regulated in the US, agencies there can request details of traders from exchanges, also people are mandated to keep track of all purchases they make and pay tax when due... The exchanges also send customers details to the tax body when needed... With what CBN did, they cannot demand any exchange furnishes them with details of any customer... If their initial intent was to regulate the space, they practically shot themselves in the foot.

Secondly, the enaira will simply be a crypt0currency valued on the naira... It's not new in the space and certainly makes no attempt at replacing bitc0in... There are similar coins linked to the usd, euro, gbp, cad... They'd all belong to a group of crypt0 coins which are not investment instruments but are just digital versions of fiat. The question now arises that if I'm going to keep an enaira in my digital wallet, why can't I then keep a digital version of the dollar instead...

Apart from making remittance easier, the other thing I see the enaira doing is expanding the utilisation of crypt0 among the general populace. Likely a number of people who are skeptical regarding crypt0 will be more comfortable with a CBN issued e-naira. Likely, they'd get the enaira thinking its an investment and not knowing is same as the naira... After a few months holding that (whose value will obviously be stable with the naira), they'd then be more curious about how other coins differ

jedisco:


The issue I have with is the perception that cos Nigeria has lots of issues, nothing can be done to make it better... So we should sit and buy products of other nations for hundreds of years...

Dangote is able to make cement in same Nigeria...same with air peace and aviation... It doesn't matter if its Indian workers or not... What matters is that progress is being made.

All being said, food production is a basic human necessity... If a nation of 200 million is importing staple food with no end in sight then such a nation is doomed...

I agree theres a technology gap between Nigeria and Western nations... But what I'm asking here is not same as asking a nation to go to the moon.... We don't need the latest tech to produce milk...the knowledge has been there for at least a hundred years... I've been to a number of farms in the west and I'm absolutely certain that virtually everything being done there can be replicated easily in Nigeria.

Indonesia and Malaysia picked up some of the knowledge on palm oil production from Nigeria... Not too many years back, Nigeria and those countries were in same boat... Today we're far behind them... My point is progress has to start from somewhere

Progress can only come in our food production when everyone (leaders/followers) come to the understanding that we must feed ourselves and not depend on foreigners to feed us.

We can do this by securing the lives and farms of farmers from the terrorists fulani herdsmen.

Setting up a medium and long term feasible plans to ensure food security.

Fund and encourage researchs on food production.

Provide facilities for technology transfer for the basic or even the best technology for food production.

Incentivise agriculture and food production, and making it a gold mine for youths to tap.

maishai:


I believe the whole move towards e-Naira comes as an after-mat of the END-SARS protest, I believe that after security Agencies Identified those spear-heading the movement, they used all their tactics in the book including cutting their funding source to Nigerian Accounts but hey many were now receiving big funding through Crypto, Go fund me, and co...........

This funds were not going through the traditional means that the CBN has controll over, It was just too anonymous hence the CBN and the Government were powerless during the saga......

They have learnt their lesson and are trying to control all Digital currency operations in the country.....The e-naira will just end up being an exchange to standard digital currency like bitcoin ........................

CAVEAT: these are my Opinions

Valid point on tracking of payments to individual wallets. However, if they are rolling out eNaira to checkmate fund remmmitnace that idea is DOA cos i still dont see Nigerians switching from cryptos to adopt eNaira (at least for international remmitances).

I belive it is the usual copy-cat ideology we are always adopting. If you recall it was when the EU and Britain were pushing for their CBDCs that CBN joined the bandwagon.

My only grouse is giving the contract to a Barbardian firm which is home grown when we have fintechs here that can handle it. Imagine the what that money would do for this economy. Especially at a moment when we are in dire need to shore up our foreign reserves and dealing with scarcity of dollars.

It is a good idea, lets keep our fingers crossed and give them benefit of doubt.

LutanFyah:

Progress can only come in our food production when everyone (leaders/followers) come to the understanding that we must feed ourselves and not depend on foreigners to feed us.

We can do this by securing the lives and farms of farmers from the terrorists fulani herdsmen.

Setting up a medium and long term feasible plans to ensure food security.

Fund and encourage researchs on food production.

Provide facilities for technology transfer for the basic or even the best technology for food production.

Incentivise agriculture and food production, and making it a gold mine for youths to tap.

These are good worded policy changes...
Putting in place practical measures to address each of them is quite different.... These measures wouldn't be accomplished overnight... Even developed nations are still addressing some of those measures at different stages.

See it this way, if you're made the CBN gov, or finance/agric minister, what practical measures will you put in place asap to remedy the situation

My point has always been simple... No nation goes from 0 to 100 overnight... It all has to start from somewhere... One step at a time

jedisco:


These are good worded policy changes...
Putting in place practical measures to address each of them is quite different.... These measures wouldn't be accomplished overnight... Even developed nations are still addressing some of those measures at different stages.

See it this way, if you're made the CBN gov, or finance/agric minister, what practical measures will you put in place asap to remedy the situation

My point has always been simple... No nation goes from 0 to 100 overnight... It all has to start from somewhere... One step at a time

Solving the issue of insecurity caused by the herdsmen can be done in a couple of months if the president sees it as a problem. Banning Twitter didn't take days, sending soldiers to kill unarmed protesters didn't take months; the president can marshal out the same willpower and urgency in addressing the herdsmen in the language that they understand.

Technology transfer is not a herculean task if we put in the resources to get them. We have brilliant youths who can be trained in a matter of months to operate and service the machines.

We have good brains that can reel out feasible and thoughtful plans to bring food production to fruition. Our brother is in AFDB, our sister is at World trade headquarters and we have good heads inside the country.

We have been copying the west in many things,we can just go to people who have passed through this stage in nation building and copy their templates.


Willpower is just the problem we're facing in this country.

LutanFyah:

Solving the issue of insecurity caused by the herdsmen can be done in a couple of months if the president sees it as a problem. Banning Twitter didn't take days, sending soldiers to kill unarmed protesters didn't take months; the president can marshal out the same willpower and urgency in addressing the herdsmen in the language that they understand.

Technology transfer is not a herculean task if we put in the resources to get them. We have brilliant youths who can be trained in a matter of months to operate and service the machines.

We have good brains that can reel out feasible and thoughtful plans to bring food production to fruition. Our brother is in AFDB, our sister is at World trade headquarters and we have good heads inside the country.

We have been copying the west in many things,we can just go to people who have passed through this stage in nation building and copy their templates.


Willpower is just the problem we're facing in this country.

All very true, but what we lack is NOT willpower to do something.
This government certainly has the willpower to do things, the problem is the things it is doing with its willpower are not generally what the country needs (take the energy with which Buhari is pushing RUGA for instance, and turning a blind eye to his kinsmen's activities also requires willpower to ignore the loud cries from the rest of the country).

Tobex4realTobex234:

16% profit in the past 6 months, if you just buy and keep

If you invest, 20%+ in 6 months. Not bad

So frustrated seeing dollar rise snatch/reduce my Naira gains by reducing my purchasing power. If emefiele can't, Someone in govt should help stop this free falls of Naira, it's so embarrassing right now, almost every day

Tobex4realTobex234:

16% profit in the past 6 months, if you just buy and keep

If you invest, 20%+ in 6 months. Not bad

LutanFyah:

Solving the issue of insecurity caused by the herdsmen can be done in a couple of months if the president sees it as a problem. Banning Twitter didn't take days, sending soldiers to kill unarmed protesters didn't take months; the president can marshal out the same willpower and urgency in addressing the herdsmen in the language that they understand.

Technology transfer is not a herculean task if we put in the resources to get them. We have brilliant youths who can be trained in a matter of months to operate and service the machines.

We have good brains that can reel out feasible and thoughtful plans to bring food production to fruition. Our brother is in AFDB, our sister is at World trade headquarters and we have good heads inside the country.

We have been copying the west in many things,we can just go to people who have passed through this stage in nation building and copy their templates.


Willpower is just the problem we're facing in this country.

Good submissions... Though I believe the war on terror is still largely underrated and it's one that's unlikely to be won by brute force alone. These groups had been left to fester on for so long that they've built good network. Also, the number of easy to radicalise out of school kids serves as cheap fuel for their ambition.

Why are people panicking and spreading fake news about CBN converting dorm account to naira. I have always maintained this will never happen. Well cbn has just denied it. I know for sure the elites who store their wealth in naira including the leaders will never allow it to happen

I made a small mind map of Nigeria's problems towards the current currency devaluation. It is not exhaustive.

I used d mobile app Nice Mind .

Hello great people.
Any information about the planned upcoming fgn euro bond? How can one position for this opportunity ,? What are the minimum amount that can be invested? Any other useful insight?

chigo4u:
Why are people panicking and spreading fake news about CBN converting dorm account to naira. I have always maintained this will never happen. Well cbn has just denied it. I know for sure the elites who store their wealth in naira including the leaders will never allow it to happen

Never say never!

You never can tell with this government.

What have been consistent with them is that any rumor or ‘fake news’ is most likely true.

They let it out to feel the pulse of the citizens and would most probably implement it later on.

I learnt something like that happened in Venezuela and Lebanon.

Make I go withdraw my small dollars keep under bed till 2023.

yinkaoke:
Hello great people.
Any information about the planned upcoming fgn euro bond? How can one position for this opportunity ,? What are the minimum amount that can be invested? Any other useful insight?

Buy Eurobond funds, the minimum Investment for FG Eurobond is $100,000, we have some with minimum Investment of $200,000

$1 = 550 Naira

The ealier CBN realise that they can't have a total control over inflow and outflow of FX, the better.
The world is a global village, Tech is bringing several opportunities overseas closer to Africa.
Lots of people will prefer to invest in NYSE now, whereas in the past the option was not available.

Each step taken by CBN in the last 2 years has disrupted the stability of the exchange rate further.
May be they need to sit back and allow things flow naturally.

maishai:


I believe the whole move towards e-Naira comes as an after-mat of the END-SARS protest, I believe that after security Agencies Identified those spear-heading the movement, they used all their tactics in the book including cutting their funding source to Nigerian Accounts but hey many were now receiving big funding through Crypto, Go fund me, and co...........

This funds were not going through the traditional means that the CBN has controll over, It was just too anonymous hence the CBN and the Government were powerless during the saga......

They have learnt their lesson and are trying to control all Digital currency operations in the country.....The e-naira will just end up being an exchange to standard digital currency like bitcoin ........................

CAVEAT: these are my Opinions

How many times have they refuted claims of devaluation, only for CBN to go ahead and devalue the Naira?
In case you don't know, this happened 3 times in the last 12 months.

I'm going withdraw $$$ and stash it in a safe place.

You can leave yours in the bank

chigo4u:
Why are people panicking and spreading fake news about CBN converting dorm account to naira. I have always maintained this will never happen. Well cbn has just denied it. I know for sure the elites who store their wealth in naira including the leaders will never allow it to happen

OgogoroFreak:
$1 = 550 Naira

It is Likely Heading to 600 Naira before December 2021 and if nothing drastic is done to tweak the economy, it might likely be 700 / 800 Naira in 2022 and if the Pharoah of Nigeria continues till 2023, Naira might likely be 1000 Naira to the dollar, alternatively except a Moses is sent by the celestial forces to bury the current Pharoah and his economic taskmasters in Abuja in the red Sea so that Nigeria and Nigerians will be free from the hand of Pharoah and his taskmasters in Nigeria

AngelicBeing:
It is Likely Heading to 600 Naira before December 2021 and if nothing drastic is done to tweak the economy, it might likely be 700 / 800 Naira in 2022 and if the Pharoah of Nigeria continues till 2023, Naira might likely be 1000 Naira to the dollar, alternatively except a Moses is sent by the celestial forces to bury the current Pharoah and his economic taskmasters in Abuja in the red Sea so that Nigeria and Nigerians will be free from the hand of Pharoah and his taskmasters in Nigeria

This is not by pharoah o. Who ever enter that sit, Naira will continue to go down.