₦airaland Forum

thebosstrevor1:
That is black market rate

Official rate is N438

Go and get it na urchins

What does EMEFIELE SAY ABOUT THAT?

twosquare:
Some people don't understand economics, and you can see some of them above...when demands outweigh supply, price shoots up. That official rate is lori iro, because the supply can't meet the demand...We are an import-based economy...from pharmaceuticals, to education, to manufacturing, etc. That is why the IMF & World bank have said rates should be unified.

Reason they blocked naira cards from being used to pay dollars online. Even if you go to banks to buy dollars, I bet it that you can't see it at the official rate. Na me dey even waste time to explain...dullards will always be dullards

Not true. There has never been a time when all demand for dollar has been met. This current price rises every day is pure economic sabotage. On Monday it was 735. Today its 790. How come.

What can BUHARINOMICS do to reduce that?

thebosstrevor1:
That is black market rate

Official rate is N438

Dis is part of wat is fuelling price rises. Imagine d disparity. Remove the official rate and ban dom account.

EMEFIELE IS A FRAUD A FREAK AND A CLOWN.

can you igbos freaking let the dollar be already....??

shey na una currency....??

una no well atall atall....
you dont even see the other side of the coin....

we get more nairas for crude oil....
why are you southeasterners soo miserable for crying out loud....!!

una dont even see its more cheaper for foreighners to buy our goods....

awon olomo importers....

look at them....look how they gathered on this thread to lament....

una no well....

thebosstrevor1:
That is black market rate

Official rate is N438

How can someone be this daft? Smh

una imports dont even profit nigeria nothing....

Otunbakayce:
How can someone be this daft? Smh

its not even the official rate sef....!!

shey una well soo....??

igbos are very shameless,mbok....

here they are advertisin black market rate....

shameless people....

thebosstrevor1:
That is black market rate

Official rate is N438

The same way Nigeria police have EMERGENCY NUMBER

ezenwajosh:
The same way Nigeria police have EMERGENCY NUMBER

keep on usin black market than usin cbn....
who cares if they complain....

nedu666:
Until black market is banned in Nigeria. This nonsense will continue. Imagine there is no black market. All parties will get their dollar from banks. It will make it easier for cbn to control dollar price. There is no developing nation dat can meet its dollar needs but hving black market is the ultimate self sabotage

You can't ban your way out of misery. You have to work for any progress.

Thank God

Opolopoopolonio:
Are you one of them

I can’t work in cbn except as the governor.I passed that stage 17yrs ago.

Have you quickly forgotten so fast that CBN wants to redesign certain denominations of the naira? Those who have it stocked up through illicit means before December will use many means to evade detection...one of which is buying the dollars...thereby mopping up the amount in circulation...and the closer we are to election year on the second note, the higher it falls...and I don't know where you bought or sell yours for 735...still did for 760 around that time.

nedu666:
Not true. There has never been a time when all demand for dollar has been met. This current price rises every day is pure economic sabotage. On Monday it was 735. Today its 790. How come.

thebosstrevor1:
Yeah, you are the only business person on nairaland.

Your sarcasm is totally useless in the face of reality

nedu666:
Dis is part of wat is fuelling price rises. Imagine d disparity. Remove the official rate and ban dom account.

Won't work. I don't even have a dom account yet i use dollars and own one whenever i want to buy foreign products (tech-wise)...foreign account is an alternative. Dom shouldn't have surfaced in the first place, but now that it is, it is still counterproductive to ban it...it means most will just keep their forex in other countries that offer dollar accounts through companies. It is that simple.

thebosstrevor1:
That is black market rate

Official rate is N438

Even online purchases in dollars are now n470 and above

Good.
On Monday or Tuesday should be a nice day for a guy man.no b much but e go help.
Shit hole my country

ShaqFu:
This is exactly how they kill the country. They encourage black market and frustrate every official channel only for them to always blame Buhari for whatever is happening.

This is the same in almost every facet in our enocomy. Official channels are blocked or made to look hectic to get while the black market channel is thrown open.

My dear, it is not her fault. She told me to go source for dollars in the black market because getting forex from the bank is quote, 'next to impossible'. She blamed CBN

GloriousGbola:
Even online purchases in dollars are now n470 and above

Don't mind that zombie capping rubbish

thebosstrevor1:
That is black market rate

Official rate is N438

dullard

What the handlers of FX are doing is simple, they are giving less and less FX available to fewer category of importers and FX user. This drives more people to the FX black market and send black market rate higher while govt brags about being able to sustain FX at a lower official rate of around 450 Naira.
It has advantages and disadvantages. People who use FX to support their business operation but cannot earn FX themselves are slowly forced to earn FX or shut down and engage in another GDP boosting business that requires less or no FX.

It also gives the govt the right to brag with a lower official rate that's actually only lower because it serves only few people.

The situation is like that of a father who under strenuous financial pressure begins to shed some responsibilities(outright disowning of some children or levelling basics needs immoral in order to drop them) just to maintain a certain standard of living in his official family unit.
In summary, the FG gradually disowning some economic entities. It is actually a form of restructuring.

tamdun:
Fed govt need to ban bureau de change for life, those people are saboteurs

Even banks charge at black market rate.
That's not bureau de Chang's fault.


The 438 official rate is for rich men, who will come and sell at the black market.

Vote4Obi:
Just look at this thing!!!

Don't worry, continue supporting APC, Las Las, you will need a wheelbarrow filled with naira to buy bread.

Nigerians will get sense by force. Shebi BATstards are still shouting emi lokan and city boy? Una eyes go soon clear!!!

Lol. Good one

Reality of world economy.
Economy is unstable.