Old dollar bills will no longer be accepted in West Africa Banks.
Politicians are bringing out their stockpile dollar bills.

Dollar to sink 500Naira tomorrow.

Nigeria will be great again

Good move

We can't wait for the 2023 elections where the old system of vote buying won't be as easy as before. New Nigeria is possible

O pari. They are burnt!

... because Buhari is not in the country

Nigeriafirstlad:
Old dollar bills will no longer be accepted in West Africa Banks.
Politicians are bringing out their stockpile dollar bills.

Dollar to sink 500Naira tomorrow.

lol it is well

Many Nigerians are economic saboteurs.

We go dey blame Politicians but the average Nigerian sef na devil.

KehindeDare:
... because Buhari is not in the country

The man is a bunch of bad luck.

Nigeriafirstlad:
Old dollar bills will no longer be accepted in West Africa Banks.
Politicians are bringing out their stockpile dollar bills.

Dollar to sink 500Naira tomorrow.

Lol if you trade forex you'll understand what's about to happen.
This is the dip before it shoots up.

Check the current rate

I told riffraffs here that the naira redesign by CBN will yield results but they chose to argue with me with their criminal mindset, that it won’t go anywhere.

They said all the criminals would change their Stashed billions of Naira to dollars at the black market.

The idiots forgot that it’s CBN that supplies dollar to the black market. And that they can decide to seize it which they have done.

They wanted to use “dollar is skyrocketing” as excuse to arm twist CBN but even the dollar is now crashing against the naira.

Some of us saw it a long time ago..

It's being defended ..when the defense whittles it will go back up

Those guys stashed dollar not even naira.
Evil people..

Nigeriafirstlad:
Old dollar bills will no longer be accepted in West Africa Banks.
Politicians are bringing out their stockpile dollar bills.

Dollar to sink 500Naira tomorrow.

Is this old dollar bill news authentic?

Penguin2:
I told riffraffs here that the naira redesign by CBN will yield results but they chose to argue with me with their criminal mindset, that it won’t go anywhere.

They said all the criminals would change their Stashed billions of Naira to dollars at the black market.

The idiots forgot that it’s CBN that supplies dollar to the black market. And that they can decide to seize it which they have done.

They wanted to use “dollar is skyrocketing” as excuse to arm twist CBN but even the dollar is now crashing against the naira.

@the emboldened. That was many months ago and not anymore.

Ordinary Nigerians who sell money to BDCs supply to them.

https://www.premiumtimesng.com/news/headlines/475998-breaking-cbn-bans-sales-of-forex-to-bdcs.html

Obidient4life3:


Is this old dollar bill news authentic?

Yap
Super authentic

This is very good news and I can testify to it,last week dollar was almost hitting 900 naira, because I trade in Bitcoin too i sold some Bitcoins on Friday for 800 Naira to a dollar.
This Monday 7th of November I sold my paper us dollars for 800 in ikotun,when I got to Ajah on Tuesday and wanted to sell some us paper dollars, it had dropped to 750 for the smaller 20$ and 600 for the 5$ notes.
I was very weak on Tuesday when I was exchanging the money but the Aboki man said I better sell because it will continue to drop.
I just check the Bitcoin rate now,and I can see it 700 naira to 1$ Bitcoin,and Bitcoin is usually more expensive than the black Market dollar.
Oga Emefiele is doing well o,I dey in shock as I can see some comments about dollar falling to 500 naira.
I know a lot of currency speculators who have lost a lot of money these last 2 weeks.
It's well
God bless Nigeria

Good, let wait till December before we can jubilate

sonature1:


@the emboldened. That was many months ago and not anymore.

Ordinary Nigerians who sell money to BDCs supply to them.

https://www.premiumtimesng.com/news/headlines/475998-breaking-cbn-bans-sales-of-forex-to-bdcs.html

Ordinary Nigerians sell dollars to them too. But bulk of their dollar supply is from the CBN.

Great! Let's go to N300; inflation should head south soon if trend continues. Thank God!

If you like go buy $ at 700, you will bite your finger by next week. 500 naira loading to a $.

Penguin2:
I told riffraffs here that the naira redesign by CBN will yield results but they chose to argue with me with their criminal mindset, that it won’t go anywhere.

They said all the criminals would change their Stashed billions of Naira to dollars at the black market.

The idiots forgot that it’s CBN that supplies dollar to the black market. And that they can decide to seize it which they have done.

They wanted to use “dollar is skyrocketing” as excuse to arm twist CBN but even the dollar is now crashing against the naira.

...but this explanation is not clear. Are you saying that there are no stashed billions of Naira notes anywhere or that the CBN has flooded the market with too much dollars?

All markets operate on the principle of supply and demand. Naira gains value when there's more demand for the naira than the dollar. Naira loses value when there are too many Naira notes chasing fewer dollar notes.

So which exactly are you saying?

Dollar will still sell 1$ too 1000.
It's an irredeemable journey unless a miracle happens.

FriendsAndFans:
Dollar will still sell 1$ too 1000.
It's an irredeemable journey unless a miracle happens.

Continue to deceive yourself, the graph is already going down. By the time the old notes fades away I will see where people will see ordinary 1M Naira in notes to change to the $.

LoL


Politicians are getting battered from left to right

Acidosis:


...but this explanation is not clear. Are you saying that there are no stashed billions of Naira notes anywhere or that the CBN has flooded the market with too much dollars?

All markets operate on the principle of supply and demand. Naira gains value when there's more demand for the naira than the dollar. Naira loses value when there are too many Naira notes chasing fewer dollar notes.

So which exactly are you saying?

Let me explain this from my little understanding of how this should work or fix itself ;

The street push the $ dollar to the black market, and the Abokis are the buyers, the politicians, or the big buyers buys from them also for whatever reasons known to them. So, who determines the street market? The buyers(Abokis), not the sellers( the street) and the big men.

Now, most of the Big men and followed by the Abokis with bunch of dollars pilled up for periods of years or so within their private chambers, so they are the one that controls the markets ; the big men and the Aboki. Now, unfortunately for them, most of their stock( I believe) are mostly the old tenders and if that's blocked they will be forced to push it or pump them back out into the market/street as a matter of urgency in this case and of course, as a cheaper rate because everybody is looking for the scapegoat and save some losses. And so, where to ? Of course, not the street or back to the Abokis this time but the Banks and CBN who determines the official rates.

Are you seeing what is happening? I stand to be corrected though as this is just my little observation and understanding of what's possibly at stake.

Ibusho:
Continue to deceive yourself, the graph is already going down. By the time the old notes fades away I will see where people will see ordinary 1M Naira in notes to change to the $.

Exactly cos, there would be no going to the bank except they want to sell it for pure water rate or have it thrown into the dustbin.

totit:


Let me explain this from my little understanding of how this should work or fix itself ;

The street push the $ dollar to the black market, and the Abokis are the buyers, the politicians, or the big buyers buys from them also for whatever reasons known to them. So, who determines the street market? The buyers(Abokis), not the sellers( the street) and the big men.

Now, most of the Big men and followed by the Abokis with bunch of dollars pilled up for periods of years or so within their private chambers, so they are the one that controls the markets ; the big men and the Aboki. Now, unfortunately for them, most of their stock( I believe) are mostly the old tenders and if that's blocked they will be forced to push it or pump them back out into the market/street as a matter of urgency in this case and of course, as a cheaper rate because everybody is looking for the scapegoat and save some losses. And so, where to ? Of course, not the street or back to the Abokis this time but the Banks and CBN who determines the official rates.

Are you seeing what is happening? I stand to be corrected though as this is just my little observation and understanding of what's possibly at stake.

Wait you believed that fake news about old dollar notes??

The writers of that fake news achieved their exact goals, which is to make people flood the market with their old tenders.

A blogger sat at the corner of his house in Ojuelegba, wrote an article and quoted Reuters as the source without a link and people believed him? Nothing on Channels, AIT, Reuters, Arise, Punch, Blomberg, BusinessDay, Vanguard, CNN, Etc. gave that impression. The news is so fake that no credible media house bothered about debunking.

If that fake news is why we are seeing a decline in exchange rate, then the sponsors of that article truly deserve a "short-term" award.

totit:


Let me explain this from my little understanding of how this should work or fix itself ;

The street push the $ dollar to the black market, and the Abokis are the buyers, the politicians, or the big buyers buys from them also for whatever reasons known to them. So, who determines the street market? The buyers(Abokis), not the sellers( the street) and the big men.

Now, most of the Big men and followed by the Abokis with bunch of dollars pilled up for periods of years or so within their private chambers, so they are the one that controls the markets ; the big men and the Aboki. Now, unfortunately for them, most of their stock( I believe) are mostly the old tenders and if that's blocked they will be forced to push it or pump them back out into the market/street as a matter of urgency in this case and of course, as a cheaper rate because everybody is looking for the scapegoat and save some losses. And so, where to ? Of course, not the street or back to the Abokis this time but the Banks and CBN who determines the official rates.

Are you seeing what is happening? I stand to be corrected though as this is just my little observation and understanding of what's possibly at stake.

Very intelligent analysis, but the OP's statement that old dollar bills were being banned across West Africa, is a lie. Dollar bills minted 100 years ago are still valid tenders anywhere!

Acidosis:



Wait you believed that fake news about old dollar notes??

The writers of that fake news achieved their exact goals, which is to make people flood the market with their old tenders.

A blogger sat at the corner of his house in Ojuelegba, wrote an article and quoted Reuters as the source without a link and people believed him? Nothing on Channels, AIT, Reuters, Arise, Punch, Blomberg, BusinessDay, Vanguard, CNN, Etc. gave that impression. The news is so fake that no credible media house bothered about debunking.

If that fake news is why we are seeing a decline in exchange rate, then the sponsors of that article truly deserve a "short-term" award.

Lool
I only responded to what I read old or not. You grab? So calm down.