Police officers work outside the rally site where Mr Villavicencio was killed

By The time Tinubu and APC is done with Nigerians eehhh...

Chai!

This USD thing don pass power!

Ebola Tinubu's effect.

A failure is a failure, no matter how you try to package him.

AmadeGTG:
K

AustineE1:
Welcome to the world of Tinubonomics...

Nazgul:
.

Streetdoctor:
Favour me jare

Chibuzoc:

James91:
This is favor me and my family 💖

gentposh:
I have this group, they want their name to appear on Google when ever someone searches for them. Pls how can i go about it?

etcme:
This weakness will Favour me and my Family

yaromaikyau:

Angelfrost:
Tinubu is making prophets out of naysayers...!

Orderabove:
it is WELL

AfroBeatDiary:
Finally!

falcon01:
Ahh!! So why did they float it?

gameova:
1k soon

orohbirodeysmel:
Ok...

How I wish naira will weaken to $1 = ₦2000
💃💃💃💃💃💃💃💃💃💃

[qu

THELATTERMAN:
Free fall

jimmyolasun:
Make Elon musk pay my money....

Ooni:
Lol

seeker121:
It is finished.

Thewrath:

Maxymilliano:
Niaja ... A country on downward spiral

ot

kansyn:
Ok

snazzy5050:
What’s going on Jesus!

whippersnapper:
Nigerians should not panic. The senate president will send some token to everyones bank account to cushion the effect of subsidy removal

Armaggedon:
Hm

Lanre4uonly:
It is well.

Dangrace01:
Omo

tesppidd:

Ofunaofu:

e author=Ofunaofu post=125006850] [/quote]

Y'all haven't seen anything yet! It's going to be N2500/$1 before the year ends.

Many of you, especially skull miners and head slammers thinks moving the country forward is through tribal or religious sentiments.

Y'all are in for a long ride!

We all know the region that can survive any economic condition.

Before Chinedu die of hunger, Adamu, segun and their households would have died years before it gets to chinedu.

Open your eyes people!

Treadway:


https://www.bloomberg.com/news/articles/2023-08-09/nigerian-naira-drops-to-record-as-black-market-dollar-rate-soars

We warned and warned, but y'all didn't listen. The chimps up there have learnt nothing from 2015/2016 when Buhari made this same shitty call to remove subsidy and float naira in one fell swoop in a country like Nigeria. Now they have successfully FAILED, yet again. A move from officiall/parallel rates of 450/720 to 750/1000(in a few days) is a very successful FAILURE. Smh

Nonsense

N1000 to 1 USD by month end

Tinubu will certainly be worst

Finally 1k =$1

I'm very happy that everyone is experiencing and witnessing this. In less than 3 months of new administration, PMS goes for at least 580 Naira per litre.
Naira lost almost 200 Naira in value yet some hungry deluded tribalist e-warriors are not seeing anything wrong with that.
I don't know when it will be clear to everyone that those presently in governance have nothing good to offer.

We are waiting and watching.

Wahala no dey finish. Nawa ooh

E don happen , Aboki told me this .....last 2 week when i bought 890 ......now tis is the reality i called him just now he said 1k for a dollar.....omo i de ve here and i need to make payment in dollar for sometin

When employees of the Central Bank of Nigeria (CBN) themselves engage in speculation, how can they effectively engineer interventions that truly serve the public interest? In the absence of a well-considered game theory approach, is it reasonable to expect that adversaries of the Naira wouldn't take actions to counteract the objectives of such interventions?

Consider individuals in the diaspora who start as students but, upon gaining employment abroad, benefit from the depreciation of the Naira, making them wealthier. Similarly, individuals within Nigeria who hold well-funded foreign accounts may not find it advantageous for the Naira to appreciate. Even employees in commercial banks, especially those in foreign exchange roles and upper management, have profited substantially from the Naira's decline. With their personal funds stored in dollars, it's unlikely they would support policies aimed at strengthening the Naira, as such measures might diminish their personal wealth. Instead, they tend to hoard available dollars or purchase them, deliberately creating scarcity and driving up demand, which in turn elevates the dollar's value, allowing them to capitalize on this difference in the black market.

The inability of the government to stabilize the exchange rate implies a lack of economic stability for international trade. And yes they know that what is required is an economic environment that fosters a steady demand for the Naira, yet they continue on a path of abject ignorance which is mostly pretentious as to the means of accomplishing such.

The solution may not lie in adhering to academic suggestions such as using interest rates to stabilize the Naira's value or relying on non-existent savings from subsidy removal to bolster our reserves. Instead, we need to address the issue of conflict of interest, reconsider the Dutch auction system we employ, explore alternatives to the dollar (Why would we continuously rely on the dollar when the economic conditions between Nigeria and the USA significantly differ, causing undue strain on the exchange rate due to these disparities?) , again, explore alternatives to the dollar, and develop policies that better suit Nigeria's unique economic circumstances. This includes recruiting talented minds from the bureau de change sector and compensating them generously, thereby aligning their interests with a stable Naira. Collaborating with capable experts abroad is essential. The CBN should be transparent and institute mechanisms for employees to disclose their conflicts of interest. Furthermore, establishing a body comprised of astute bureau de change operators, accomplished CFA charter holders, seasoned economists, and proficient professional accountants with expertise in the FX market is necessary to engineer effective policies.

While we build such a team, we must recognize that the knowledge possessed by this particular group is informed by perspectives and insights originating from perhaps our adversaries, who just by having the interest of their country at heart becomes our adversary. Acknowledging such will help mitigate a possible situation where the knowledge held by CFA charter holders as a result of their certification is notably influenced by the finance and economic orientations prevailing in the Western sphere to be in their service. Hence, an alternative category of developmental economists and sociologists, who experts in research, should evaluate different options beyond the existing systems of knowledge. I believe that the existing systems often require we apply established knowledge in a manner that further disadvantages us.

Our Central Bank of Nigeria (CBN) should serve as a hub for researching alternative approaches, focusing on evaluating studies that diverge from conventional Western textbooks. It's disappointing that despite the resources at the disposal of Dr. Michael Adebiyi, the Director of CBN's Research Department, only one or two studies with similar conclusions—centering on domestic market focus to impact the exchange rate—exist.

The CBN must also fund studies that explore potential international markets for local products and examine how current institutional knowledge serves the interests of those seeking to exploit nations like ours so as to build mitigations. Instead, ‘No’ we want to be excited in the emergence of smooth talkers and private profit oriented achievers like Taiwo Oyedele, who however his best interest operates in a mind framework not necessarily in our interest.
Even with Okonjo Iweala's Harvard degree and international expertise, her knowledge might not fully align with safeguarding our independence from both international and local economic disruptions.

The CBN needs to cultivate a suitable mindset and ideology. So, offer grants to bright members in Nigerian universities, for research aimed at alternative economic development frameworks. So, do away with recruitment practices plagued by cronyism and nepotism for over a decade that has forced our most talented minds into the hands of our adversaries.

In essence, achieving a more stable Naira requires a holistic approach that addresses conflicting interests, revisits existing systems, and taps into the expertise of professionals from various fields, while considering evaluating scopes beyond the narrow “Essential Economics or Advanced/Strategic Financial Management or even a CFA which emphasizes more of portfolio management or private wealth management that may be an adversary to the knowledge required for the advancement of our national economy.

Only through such comprehensive efforts can the CBN work towards a fair and equitable economic landscape for Nigerians. Not the existent approach that makes a class in middle class pray that the Naira is entirely jettisoned for perhaps Yuan, and yet another class prays that the Naira continue to weakens.

What uncle Meffy couldn't do in 9 years was done in 2 months by Uncle Bolly.

Buhari bastardized Nigerian economy Tinubu is also doing more to make it worse.

Effect of binance and crypto.

No Wonder Deji Adeyanju keep shouting Keep your dollars

whippersnapper:
Nigerians should not panic. The senate president will send some token to everyones bank account to cushion the effect of subsidy removal

Don't worry... The jokes will dry up soon. Just wait.

It's just a matter of time before both mockers and sycophants will be too speechless with hunger and despair that they will collectively weep in agony.

Meanwhile, our government should keep worrying about the Niger Republic while the nation's economy perishes.

Naira depreciating again. nawa oo

Wow
With this, the price of fuel will soon go up

Hmmmmm

God bless Emefiele.

Treadway:


https://www.bloomberg.com/news/articles/2023-08-09/nigerian-naira-drops-to-record-as-black-market-dollar-rate-soars

We warned and warned, but y'all didn't listen. The chimps up there have learnt nothing from 2015/2016 when Buhari made this same shitty call to remove subsidy and float naira in one fell swoop in a country like Nigeria. Now they have successfully FAILED, yet again. A move from officiall/parallel rates of 450/720 to 750/1000(in a few days) is a very successful FAILURE. Smh

When did Buhari remove subsidies and float the Naira on the same day in 2015/2016?

Watin dey happen. I witnessed when dollars exchanged for paltry 1 hundred to 150 in this country. How can growth, technology and population surge bring so much disaster to a nation with abundance resources? It's baffling.

If you want to be commenting freely on nairaland without getting blocked from being able to comment on amy issue, just keep on bashing Tinubu and support IPOB. Wonder if the platform admin too is being threatened like the Judge Tsamani and his colleagues by the same losers who posted his pictures and those of his children.

The reason why Nigerians voted APC.
2 years ago we were screaming our tongues out of how come $1 equals to N550.
If the dollar equals N10,000 will that stop APC from clinching the presidential seat in another 4 years after this Tinubu 4 years. ?
Only those who supported APC with their votes can give the answer

tesppidd:
Till today no palliatives.

They say we should tighten belt but Tinubu is increasing ministers because he wants to compensate people.

Our representatives in Government at the National Assembly are receiving stress allowances for staying extra 2 weeks in sit inside AC and be doing the very stressful work of shouting Aye and Nay.

Thunder fire anybody telling us Tinubu has hit the ground running, rather he hit the ground on quicksand.

very annoyed just go there and shout ai or ney and pocket huge dollar home.

Dem still get black market rate?

Yeah, so I heared.
Pounds is already 1200 and rising.
People say oga has midas touch yet the naira is being destroyed.
In 3 months dollar in cbn rate of 460 has gone to 950, pounds from 550 to 1200.
Blackmarket $1 from 750 to 950. Pounds from 950 to 1200.
What it took buhari 8 years to achieve, this time it is likely taking at the current rate less than 1 year.
All this is something apc met at 180 to $, 250 to 1 pound.
We are seeing a whole country being destroyed.
Anyway, it seems only certain sets of people are suffering it, others show tribal or party cards and get it cheaper.

Hmmm, it is well