madmohamed:
Nigeria prepare for what it seems will be the greatest corrupt government for nest two years

We just discovered something most wicked and evil government of Nigeria under buhari this is grave consequences

We discover that this buhari government and Fulani cabal's have secret account where they transfer 35% of the money they borrow from foreign country (not including China) and most likely from oil money billions of dollars are transferred to some of this accounts


They open this account in case of if something happens to Nigeria they will use that billions to survive mind you the north Sentral is not part of this only Fulani cabal's knows about this accounts

The account was opened in the name of northern development management just to confused the borrower's that the money is mean for development of northern Nigeria

The signatory of this accounts in Saudi Arabia have ellofi signature the governor of Kaduna state and baba amed the Northern Elders volume and two other people we can't get their name.

They also have tow account in Qatar Yusuf buhari is one of the signatory of one of the account and about seven others.

If you don't stop Fulani Nigeria will cry time is coming when you will not see any money for any developments you will be only paying for Dept

They the Fulani are making plan to install another Fulani man and you people are there shouting 2023 Powe must return to south whit out any action. By nest year you will see how they will use efcc and DSS to against Southerners special the people who don't agree with them some of Southern politicians will run away

Stop Fulani known or unknown is coming

If we follow the 2016 script to the letter, then the authorities would walk back on this call for devaluation starting from today. We would find many reasons why devaluation is bad for the economy. But the devaluation will eventually happen.

Look at it like this; we are back at that time in 2015 when the official rate of the dollar was N197, and the parallel market rate was N260. There was more than a 20 percent gap between the parallel market and the official side. Today we have 411 vs 570, which is also more than a 20 percent gap.

If the CBN goes with Osinbajo’s suggestion to “move our rates”, what immediately happens is that we see a devaluation at the official market, which may drive up prices of goods and services in the short term. If the CBN employs some of the lessons from the past, it can strengthen the naira at the parallel market. The naira will dramatically recover from N570 per dollar to anywhere between 450 and 500. There would be a unification of rates at a new midpoint. But the big question is: what happens next?

After the 2016 devaluation and some sort of unification, the parallel market began to shift again. The CBN adjusted for unification. By 2017, the parallel market had taken the naira to 520 per dollar. CBN had to devalue again to 360 to firm up rates. The naira recovered from 520 to 360 at the parallel market. But this was not sustainable due to the nature of the Nigerian economy.

Since 2017, we have moved from a unified 360 to 570 as of Monday. If we devalue again, the naira will firm up for a bit, and if we don’t do something different with the economy, we would be back again at devaluation avenue in a few years. That is how the Nigerian auto-replay works.

richmond500:
Wetin we wan devalue inside money weh no get value again?

BigDawsNet:
I trust this prof to lead nigeria...

His so smart with lots of brains upstairs

TheRareGem1:
VP never call for Naira devaluation. He only called for an official rate reflective of market reality. The current dual exchange rates allows for arbitrage and blocks inflow/supply of dollars from investors.

ezekins:


Osibanjo has nothing to offer to Nigeria. for him to be pushing for the further devaluation the naira knowing fully well how valueless the naira is clearly shows his emptiness.

The fact remains no good investors can invest in a country that lacks basic infrastructure such as electricity, good roads, etc. Government that consistently shows no respect for the rule of law.

TheRareGem1:
VP never call for Naira devaluation. He only called for an official rate reflective of market reality. The current dual exchange rates allows for arbitrage and blocks inflow/supply of dollars from investors.