flokii:
It should go down to 700 or less by December.. that's our prayer.

SoNature:


You don't owe those agbadorians any explanations. The approach Tinubu is taking to stabilise the naira is not sustainable.

You cannot continue to borrow to strengthen your currency. You must find legitimate means of making Nigeria's economy attract foreign currency or reduce our overdependence on it.

Dubetex96:

What other reality pass wetin Agbado miscreants are passing through rn. Una no dey Ronu again

Renewed shege no be any body mate

election get consequences


Deal with it or u Bleep out

Mayeldah:


Stop scoring own goals

Why did Tinubu float the Naira if he will later start defending it with borrowed funds?

Same thing he did with fuel subsidy only to later re- introduce it through the back door

It is all cluelessness and policy summer sult.

Dubetex96:



U always like to defend the defenseless I'm not surprised that's typical behavior of Agbado peasants

Uchesis:

Oga keep quiet abeg.
.
Tinubu and Buhari told us in 2015 that 250 naira to 1 dollar is not acceptable.
.
But now you are ok with 750.
.
Stop giving flimsy excuses for APC failures

maasoap:

How about you starting by slaughtering your mother, knock your father on the head with a pestle and probably poison yourself and your siblings. We don't need nukes to achieve your suggestion. Ode

ElSudani:


They cry the loudest which is not entirely bad but they are strangely never happy about any good news regarding Nigeria.
They used to open like 50 threads a day to wail about the dropping rate of the naira.
Where are they to spread this good news?

Allisgud:
The naira strengthening is not affecting any market values,but if it rises up it will affect,border has been open yet rice is where it is,even badagry the border community are still buying derica for 900

JagabanB:

U always like to tell lies like ur principal typical of yes daddy lie.

SeaTrade:
Buy the dip and die lol.
Speculation was what was mostly heating up the parallel market.Its a small market that can easily distort when there's a slight increase in demand.
One permanent solution I propose is to criminalise black market activities and sentence its operators to death by lethal injection if found guilty,
That market shouldn't exist outside entry and exit points and should be controlled with limited volumes.
One of the problems of the naira is greed,even though fx supply was dwindling.
As for Nigerian traders,these unscrupulous elements hike prices anyhow and transfer the cost of their greed to consumers, and corporations aren't free from this either.
The only way out is consumer enlightenment and orientation so they know that they must not die untop one brand cos of name,cos I see that Nigerians are very foolish and have a lot of money to do blind brand loyalty.
They deserve all the pain they're getting as a price of their foolishness and we're not stopping to exploit and plunder their resources for this foolishness anytime soon,
They must Learn.
A simple break in supply chain of a known brand shoots prices up 200% by downplayers in the supply chain,corporations see this ,get greedy and now adjust price and maintains it to tap into this consumer largesse even after fixing supply and bastards from hell are still buying though alternatives abound and later the pigs have the guts to scream inflation.
Stupid little goats.
PS:No importer of commodity bought fx at 1300,take this to the bank and you'll get paid,only essential services and commodity people,then hoarders and backlog people that want to cut their losses and move on from Nigeria were the ones buying at that price.
Where trader see money with his N100m capital that he cant even liquidate all at a go to buy fx at over 200% increase?40ft no go full again na and then logistics cost and customs will further plunder his resources,then how much go come be shelf price? They were seriously waiting for interventions or they end the business
That's why customs was crying that goods no dey port to clear the other day cos niggas Don take backseat.

Thundafireseun:

Very rubbish news

The prices of things that have already gone up will never change

RenaissanceGuy:
It's not true. Prices of commodities have crashed in Nigeria in the past. In 2017, prices of beans crashed from N700 to around N250; that of garri crashed from N400 to around N150, and a whole lot of others, until Covid19 came and they went up the roof.

Thundafireseun:

Very rubbish news

The prices of things that have already gone up will never change

You borrow money to strengthen the Naira let’s see how long this will last

Our politicians are the most wicked corrupt people in the world….The introduction of BVN made the pressure on the dollar rise because politicians were no longer comfortable storing money in the banks or at home so they opted for dollars ….And the demand for dollars by this same politicians is making the dollar rise against the naira

Yet they sell their fake news to their gullible followers that we need to stop buying and importing foreign goods..

How many of these same politicians patronize locally made goods to strengthen the Economy

Thundafireseun:


Lol … I agreeee with you…. Buh do you think the price of PMS , AGO … and a whole bunch of things like electronics, clothes etc that have already gone up could come down just because Dollars moved slightly??

It should rather remain where it is oooo…
1300 for heaven’s sake …. We are already getting used to it

reddingtonblack:



You make some points, But the black market can not be criminalize, nothing is wrong with the parallel market except for the players, Nigerians are the criminal everybody wants to make fast money

Besides the official fx window bandwidth is throttled in such a way it can't even meet 40% of our total FX demand, with bearly $3billion in our foreign treasury we can't afford to scrap parallel market.
whatever intervention FG/CBN pumps into the FX market the spectators/sharks are waiting to mop it up in no time, but the govt can bait the sharks to identify them

i think Nigerians need resensitization, the FX window is so saturated with Speculators, if the govt may digitalize the parallel market and set up agencies to monitor inflows & outflows and then go after the criminals.

desperate times require desperate measures if only Govt can prohibit money-stashing it will go a long way to curb "hoarding".

RenaissanceGuy:
Yes, they'll ALL crash in due course. It's food inflation that usually influences all other categories of inflation.

Lol

Give or take two weeks

The price will go up again don’t be too happy

SeaTrade:
First of all,reserves are way more than $3B.
Secondly,If you take away speculative demand,you'd find out that Nigeria's fx consumption can be very well catered for by the official markets.
Thirdly,if parallel market didn't exist,they won't be sharing inflows with CBN and damaging their fx earning potential.Or where do you think the fx aboki is selling comes from? Those are monies destined for Nigeria but rather than go through official channels, senders will go through aboki cos they'd pay higher.Also if you cancel aboki,where then do speculators get from to hoard?You see na.Then nationalise all dorm accounts,you have no business saving in other currencies in another country,that in itself is speculation.
You're right about digitising fx transactions and cut out middlemen(banks) to starve the parallel market of supply,then start hunting down those bastards cos they'd still find a way to be relevant if you don't use deadly force.
What they need to do is bring the entire naira in circulation to the banking system by any means ,then put stringent measures in place that won't have currency flying all over the place.

Dubetex96:



lmoa who lie pass Emilokan


First class graduate wey dey forge certificate home and abroad.


Tue Tue

flokii:
It should go down to 700 or less by December.. that's our prayer.

JagabanB:
Yes daddy, who denies reality.

maasoap:

It looks like you are stuck with the past my friend. This is 2023, not 2015. No one is okay with 750 to a dollar. What we're saying is that as long as the gains is sustained no matter how small it is, we're okay. It is you that should brush up your comprehending ability. Naira can't jump from 1300 to 250 overnight

nedekid:

Our importers will not die of hunger as they will simply markup the prices. It is you and i the consumers that will pay more.