maybanks:


An average Atikulooted Nigerian Youth is too lazy to read. Know that and know Peace.

Olafisoyem:


Guy most currencies are free floating even the pound dollar and euro. I’m order to increase or decrease the value of their currencies, they either pump money into the economy or reduce the amount of money in the economy they also look at inflation.

What he is saying is so correct. You forget that most of nigerias money is imported.

Imagine if naira is 1000 for one dollar all the dollars we are collecting will be equal to more naira.
More foreign companies will invest dollars in Nigeria because they will convert it to more naira. Outsiders are not fools imagine you got to the market and you want to buy something. They call it 500 but you know In your mind it is only worth 300 will you buy or will you go somewhere else.

No security no light no nothing no ease of doing business and you’re selling your currently like it is high.

WesternOligarch:


You didn't read the article... jeez

palsenator:



Don't mind the idiot.... I am sure he didn't rrad it... BY pegging the dollar against the naira, you are creating artificial scarcity and some people are Making millions daily.... Let the gap be close, law of demand and supply should be allowed and encourage exportation business....

In few months, our exchange rates will improve...The cabal benefiting from these won't let this happen..,.

If you go die make you die, the abokis are the ones benefiting from this scheme...

DubaiLandLord2:
This man dey always talk like say he is not part of the FG.

baralatie:
If the naira exchanges at #800 to $1 dollars !
What will be the implication to Nigeria

baralatie:
Or increase productivity to cut your dollar demand on imports

baralatie:
If the naira exchanges at #800 to $1 dollars !
What will be the implication to Nigeria

Babanah:
Float the naira. How much did Thailand make from tourism alone in 2019? $64 billion. Not to talk about FDI and portfolio investment. Even poor men go to Thailand and live as kings for two weeks. A lot live like big men while on state pension from their home countries.
No wonder Thailand is far more developed than Nigeria.
Imagine Nigeria with a devalued (appropriately) priced currency. All those oyinbo men will retire to Akwa Ibom sharp sharp and enjoy life.

TheOldGods:
fear of missing out. Na so all these shit useless coins

Muchmore024:

2019??

BosseJ:
Prof should be careful with this advice because if the naira is left to market forces as he's suggesting, it could go as high as N1000+ to a dollar within weeks. The consequent inflation would be mad. And knowing Nigerians, they won't hear grammar o. To the average person on the streets, dollar to naira exchange rate is meant to be as low as possible, they don't care how it's done. Else they will heap the blame on him and Buhari's heads.

Babanah:


There will be fewer buyers at that rate and will start to appreciate. The hoarders (speculators) will get their fingers burnt.

Blakjewelry:

You wey know book when last did you make foreign purchase

seborrhic:

Is it as simple as that and is that supposed to be the thought process of an acclaimed intellectual?
On the one hand u av a dullard that believes forex should be hoarded and given only to cronies,on the other is another dullard that says CBN should just allow the Naira to float.
Even in the most advanced and capitalist of countries,they sometimes intervene in the currency market,just that in our case we have a horrible president,a seemingly mentally challenged CBN governor and a cabinet of glorified dullards.
He has always been a dullard,forget all that issue of him being a professor of law.

Trentee4eva:

Mumu talk. Is the naira not devalued already? How can devaluing the naira help tourism?

DubaiLandLord2:
This man dey always talk like say he is not part of the FG.

baralatie:

Do you know how many dollars that nnpc and it's sub contractors purchase from the cbn that is inevitable.
They must buy

DubaiLandLord2:
This man dey always talk like say he is not part of the FG.

globemoney01:
Osibanjo is making some sense. Emefiele destroyed this economy

Babanah:

With regards to the CBN you have to look at both sides of the balance sheet as it were. If depends on what the CBN does with the increased naira proceeds.@ Social intervention programs. Subsidies targeted at the poor and vulnerable.

BosseJ:
Prof should be careful with this advice because if the naira is left to market forces as he's suggesting, it could go as high as N1000+ to a dollar within weeks. The consequent inflation would be mad. And knowing Nigerians, they won't hear grammar o. To the average person on the streets, dollar to naira exchange rate is meant to be as low as possible, they don't care how it's done. Else they will heap the blame on him and Buhari's heads.

RodgersAkpafu:

I doubt it will drop to 1000
What will definitely happen is that forex demand for frivolous things will fall very well when the dollar sinks

baralatie:

The bolded is the perogative of the executive president of the federal republic not the CBN governor.
Meanwhile you have not settled nnpsc, and it's subcontractors dollar demand for it's imports.
Excluding importing by man for it's raw materials and machinery
Excluding dollar requirements by fg for external dollar debt loan financing
Excluding imports of wheats and kpanla and sugar
Excluding dollar requirements for trade at npa o for your phone,laptops ,cars

And you only major source is ..........

what do you think will happen to bubus govt if dollar sells.at #800

mema900:


Small pikin

SarkinYarki:
I am beginning to suspect the mental capacity of this man to fix Nigeria because it seems he doesn't understand the problem at all ....If you don't know if CBN fixes the rate at 600 naira tomorrow it will still find its way into the hands of Abokis who would na sell at 750 ...the scarcity of dollars is deliberately just like the scarcity of passport booklets , scarcity of electricity and Apapa hold up ..this is how northerners create false scarcity in other to make money ...They have even started it with train tickets