By the time Buhari is handing over, the naira will be at N1000 to $1.

Remember this post and if you have dollar, save it for that time. At least I am still holding my $1000 till then

joeyswift:
There is nothing they can do to avert the fall of naira, only when Obi comes on board and we start producing and manufacturing

Producing and manufacturing what? Are you sure this your Obi has the liver to take any serious giant step?

Omooba77:


https://www.vanguardngr.com/2022/07/were-working-to-avert-further-naira-fall-cbn/

Mr Cbn governor just save yourself that statement, fg policies has destroyed naira. It will only take the grace of God for it to recover. As it stands now, naira may fall more. That what country like Nigeria will face when the so called president appointment people based on nepotism and was ready to punish a section of the country just because they failed to vote for him. A part of a body can't be in pain and you expect the whole body not to feel that same pain.

sinkhole:
Naira will still slide further
If you read the above report, you will discover that the blame was technically taken away from the CBN and gently transfered to the ordinary Nigerians, the report claimed that CBN has done all that it could do to strengthen the Naira but Nigerians behaviour is causing CBN problem!
The above report is similar to Buhari's statement that he has done all he could do about security and there is nothing more he can do

Importers never enter china yet ooh

What have u been doing before?

I thought they were going to blame AbokiFx

.

By making it collapse patapata.

CBN was using treasury bills to remove excess naira in circulation but since the rates were no longer attractive, investment in forex increased excessively to the detriment of our economy. However, arbitrary speculation of forex is a crime against our currency.

The only solution to all these long Grammar is to vote for Peter Obi

JASONjnr:
Lol.... they're literally gaining massively from it....

He's doing nothing to stop it....


These folks are taking Nigerians for a fool...

Like Peter Obi pointed out... We don't have any business using dollars in Nigeria... The reason why we get worried is because, we tend to trade more with foreign currency in Nigeria than trade with the local currency.....

Is the Spokesperson of the Central Bank not an Obedient, seeing that he's from Eastern Nigeria? Check out his name.

Tareq1105:


Producing and manufacturing what? Are you sure this your Obi has the liver to take any serious giant step?

He cannot be worse than the one we all taught had 50kg size liver to fight corruption, fight insecurity, improve the standard of living of Nigerians, rather he has shown to be a weakling and a deceiver.

Everything under Bubu is catastrophe

Na who we offend.

The man no even say “reverse “ him say to prevent “further “ fall.

E don set be that

That is where it ends. When they have converted their stocked dollars. Why can't the statement be of the form we are working to reduce naira exchange rate to N500 first.

my shipping company wan cash out on top my head.....not easy now to be an importer ooo....landing cost we consume all your money.

You won't further devalue it but this one don enter already!

The CBN should hand off exchange rate and allow forced off demand and supply determine the rate.

Omooba77:


https://www.vanguardngr.com/2022/07/were-working-to-avert-further-naira-fall-cbn/

Is this actually in CBN's power to control?

I think the finance ministry and economic advisers to the President can initiate ways to drive the economy forward. That way, naira will become stronger.
For example making exportation of goods easier. And ensuring Nigerian produces things more than the import, and can also export.

ttbaba:
my shipping company wan cash out on top my head.....not easy now to be an importer ooo....landing cost we consume all your money.

You get the point!
And you will transfer the expenses to consumers who would now scream that things are being expensive, not knowing its not your fault

Thanksful:


Importers never enter china yet ooh

I guess you mean imports from China (still on its way )
Since Nigerians depend mostly on those imports for affordable goods, when those ones land at the current 710 dollar to naira rate, that is when so many will feel it more. Those containers must be cleared, and rate for clearing clearing goods now is high

SocialJustice:
The excess money being stolen by politicians is flowing into the economy to seek dollars and destroying the naira in the process.

The CBN knows this but will rather pretend like they are not a major enabler of the problem.

The politicians and EFCC should take part of the blame.
When politicians start to bribe in dollar, and EFCC officials are not investigating and prosecuting them, it becomes a norm

The fx is consumed mostly by rich folks travelling out

Mumu CBN...useless...

Abfinest007:
Shameless fool

very shameless CBN team and the head of them all...theuve changed policies to get us to this point..

You are the worst fiscal manager I have seen.

Nigeria is gradually sinking, how would I avoid this,Lord

Their brother has been there as economy consultant to the president yet no improvement for years ,if it were to be that he is from another region,they will be the ones calling names ,asking for him to resign,terrible set of of people

Look at the fool gaining from the downfall of the useless naira.

Okealaaye:


Is the Spokesperson of the Central Bank not an Obedient, seeing that he's from Eastern Nigeria? Check out his name.

This is not about tribe or ethnicity....

You should know that, corruption doesn't know any tribe...

I hope you learn to stay positive...

..Niagara falls go dey learn for where this naira fall thing dey go..

PARADIZEPRIEST:
LET US FACE THE ULTIMATE FACT HERE1
DO YOU PEOPLE KNOW THAT BUHARI DOES NOT HAVE A SINGLE INTERNATIONALLY SOUND ECONOMIST IN HIS CABINET?THAT IS WHY YOUR ECONOMY IS SUFFERING,HE SURROUNDS HIMSELF WITH LITERATURE GRAD (MINISTER TRANSPORT),YA CBN GOVERNOR NA INSURANCE LECTURER.
OBJ HAD SOLUDO(PROF OF ECONOMICS HOME AND ABROAD
JONATHAN HAD OKOJO IWEALA(PHD NIGERIAN-AMERICAN ECONOMIST),
YOUR PRESIDENT DEY LOOK TRIBE INSTEAD OF COMPETENCE,HIS FINANCE MINISTER WOMAN MALLAM IS NOT EVEN FCA,OR FCCA.
THAT IS WHY THINGS ARE LIKE THIS. LATE ABA KTARI WAS DOING ECONOMICS FOR BABA BUT AFTER HE GO,BABA HAS NO ECONOMIC COMPANION ADVISER,HIS LONELY because HE TRUST ONLY ONE OR TWO PPL AROUND HIM.
IT IS WHAT YOU FEED TO ECONOMIC SYS THAT IT WILL VOMIT BACK TO THE PPL.
IF YOU FEED YOUR ECONOMY WITH WRONG PEOPLE,YOU GET WRONG RESULTS.

WE DONT NEED TO IMPEACH BUHARI TO CAUSE MORE ECONOMIC PROBLEM OR FUTHER DIP IN EXCHANGE RATE.
JUST TELL THE OLD MAN TO CHANGE HIS FINANCE MIN,CHANGE HIS CBN GOVN,CHANGE HIS ECONOMIC TEAM WITH PEOPLE WITH GLOBAL ECONOMIC EXPERIENCE, WHO CAN NEGOTIATE GOOD DEALS FOR NIGERIA FOR PROPER BALANCE OF TRADE.

GboyegaD:
The CBN should hand off exchange rate and allow forced off demand and supply determine the rate.

Then get ready for #1240 to a Dollar

Honestly, this is just the problem

Like Peter Obi pointed out... We don't have any business using dollars in Nigeria... The reason why we get worried is because, we tend to trade more with foreign currency in Nigeria than trade with the local currency..... [/quote]

dollar wey go still fall