Angelfrost:


I honestly can't believe people can compare another person's administration with Buhari's and give Buhari accolades...!

Jagaban needs to think and act faster, or just fvcking resign. This is deeply and insanely embarrassing.

He subtly blamed emefiele in the heat of naira redesign that they mismanaged the naira. Now he is there and has broken records. He failed due to stupid attitude of placing politics over solutions.

Acidosis:



Naira has NEVER gained any significant value since the 1970s. Saving in dollars in Nigeria is an "investment" that will NEVER lose value.

It WILL always fall.. The best any president can do is to reduce the rate of fall. Buhari being the worst president in the history of the universal had the worst rate of fall. Naira, under Buhari, fell by over 300%. Tinubu is gradually taking that path.

Gradually??! Lol... You guys just like being temperate in choosing adverbs.

700 to 920 in 3 months is not "Gradually" sir.

That's an AVALANCHE.

Igbos are suffering. Thank God for Asieaju

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

It's not token. It is prayers. It will be sent to email accounts not bank accounts

He built Lagos.
Why can't he build Nigeria?.

.
I just received my token from Akpabio by the way

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

Calm down. We will stabilize eventually

promise4040:
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!

Without crime, Chinedu and Emeka for don die finish. As they legalise crime for their region, thats why they are able to survive.

CodeTemplar:
He subtly blamed emefiele in the heat of naira redesign that they mismanaged the naira. Now he is there and has broken records. He failed due to stupid attitude of placing politics over solutions.

The question is does Tinubu know how to govern a country?

Does he know governnance at all?

allthingsgood:


Calm down. We will stabilize eventually

Who are the "we"?

Angelfrost:


Gradually??! Lol... You guys just like being temperate in choosing adverbs.

700 to 920 in 3 months is not "Gradually" sir.

That's an AVALANCHE.

I know right.. !

I dollar = N1000 loading !! Surely this must favour me and my family!Good morning MUGU Nigerians or is it Mugugerians

I have said it and I will always say it.. The price spike will gets to 1000 naira per a dollar..

That is quite the opposite of what the government told us.. is like they are going toe opposite plan of what they told us.

Ofunaofu:
One of the most foolish decision ever made by this calamitous Tinubu government is the exchange rate unification nonsense


Instead of putting measures in place to drag the parallel market exchange rate down from 750/dollar to meet the official exchange rate of 460/dollar, the government move the official exchange rate up to meet the parallel exchange rate masking it as exchange rate unification.


After he must have removed subsidy from petrol without any single local refining capacity


How did we get here as a Nation

Why and again I ask remove subsidy without a bandaid in place. ?
He put the cart before the horse now the horse has stubbled and broken its shoe before it can trot !
I never voted for you but you are fighting too many battles on too many fronts at the same time.
Get a 6month supplementary budget ( which senate May shoot down since APC doesn’t have majority) and put the subsidy in place until the economic measures to let people breathe are in place and working.
Get the refinery up and running
Agriculture
Electricity
You need to generate income for the FG.

There is a global inflation and because Nigerians are yet to understand the implications they will continue to borrow loans increasing the personal debt and overall personal debt . You cannot give free money to people as this will also bring about inflation .
If you give free money , you also have to tax higher. Initiate Austerity measures …
Reduce the cost in making food so that it’s affordable to buy and also transport said goods.

Anyways who is listening !! I ain’t an economist .

Chai. Which way naija?

Meanwhile....👇

He said he will continue from where buhari stopped. Not surprised

Revolva:
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

How many dollars do you need?

orohbirodeysmel:
Ok...

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

So that those of us making money in $$, yahoo boys, Amazon Kindle publishers, crypto traders, forex traders, programmers etc will blow like atomic bomb 🤣🤣🤣

This morning alone, I never even chop breakfast 👇👇👇👇

show your loss too, you also loss in dollars....na only yahoo boy or abroad ppl supposed say this you are saying.nonsense

Nigeria is at war in the north east and wants to invade niger Republic, Go to war and accumulate debts and the national currency takes a dip , only Russia has beaten this because has been acquiring the only true currency since the cold War, GOLD

The Yoruba Nation will always stand for Adamu Mumuni Bola Tinubus's mandate.
It's Tinubu's turn! , even if naira is exchanged for 1,200 nairas to the Dollar
Even if fuel is sold for 900 naira per litter.
Even if the country is bleeding and people are dying of hunger we don't care.

Angelfrost:


Fuel prices
Gas prices
Transport fares
Food prices
Bride prices
Olosho prices
Healthcare prices
Drug/Medication prices
Etc...

The poor have been choking for at least 2 weeks now... Now, the poor are about to drop dead.

I ask for the umpteenth time: Does this nation have enough security and prisons??!

The looming revolution and anarchy will be historic if things don't change positively and fast... With the way he is testing the patience of the North with this Niger matter, it might start there... Adamawa was just a test drive.

I promise you, I can't wait for that revolution!

crismark:

How many dollars do you need?

you wanna dash me dollar..or wat lol....i need 50usd like dis....GTB to Gtb dorm

skj1377:
Effect of binance and crypto.

this makes you sound foolish

Inflation will just kill us in this country.

AdesegunSanni89:
If you like go and buy dollars at black market rate, na you sabi. The official rate is around N760 in banks. If government is selling petrol at N600 and you decide to go buy at black market for N1000. Na you sabi o.

Are you d*ft?
Bank rate is 910 as at yesterday

Abeg make person help my life with $100 abeg.

Revolva:


you wanna dash me dollar..or wat lol....i need 50usd like dis....GTB to Gtb dorm

N930/$1
Are you interested?

The favour don land!

Agbado miscreants how market 🤣🤣🤣🤣

Bureau De Change smart brains have absolutely nothing to do with this. This smart brains have been the one engineering the rate when it's still manageable untill CBN under Buhari and Emefiele yanked them off from the OFISD with spurious allegations. The consequences of f that action by CBN has been the free fall of naira.
Meanwhile the Association Bureau the change operators of Nigeria, ABCON has been engaging the CBN since then but no positive action from them because the CBN and the powers that be are benefiting from the naira free fall.
If the genuinely want to bring the rate down, they know what to do

othermen:
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. What's required is an economic environment that fosters a steady demand for the Naira.

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, 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.

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. Only through such comprehensive efforts can the CBN work towards a fair and equitable economic landscape for Nigerians.

AdesegunSanni89:
If you like go and buy dollars at black market rate, na you sabi. The official rate is around N760 in banks. If government is selling petrol at N600 and you decide to go buy at black market for N1000. Na you sabi o.

cover your face in shame oga

clinician2x:
This news de sweet me low key. My fiverr and binance de represent wella. 15000 dollars i started saving from buhari regime when dollar was 400 don blow up in naira reach now and I won't touch it till naira reach 2000 per dollar. I go just use am buy house, come japa.

😂. Please help me withData. Thanks

Wow!👀👀 The shyyythole from fry pan to FIRE🔥

# lifeless to druggie 😁😁😁