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Naira Trades At ₦1,730/$ At Parallel Market - Business (6) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Trades At ₦1,730/$ At Parallel Market (23709 Views)

Naira Trades 1,498/$ At Official Market, CBN Tackles Racketeers / Naira Trades At ₦1,520 Per Dollar / Naira Gains Against Dollar, Trades At N1113/$ At The P2P Market (2) (3) (4)

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Re: Naira Trades At ₦1,730/$ At Parallel Market by dklex(m): 11:53pm On Feb 19
Awolowo once said, when the time comes the masses will fight for themselves
Anunakeeh:


All these one na Stories.

Your Conrtree is gone forever.

The only viable solution is disintegration.

The forced miserable unfruitful union has reach its maximum threshold and expired.

Expect *More EVIL* in the coming days.

I am well preparedgrin

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by Perewenkle1: 12:01am On Feb 20
I said it before and will continue to say it until it gets to their heads. There should be no BDC to buy or sell foreign currency except at international airport and all daily transactions and money exchanged sent to CBN. Any other foreign currency sale or exchange be done at the bank at the approved rate.

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by mindtricks: 12:03am On Feb 20
yesloaded:
African leaders n pride

The country can not survive with this kind of senseless inflation

Naira losing value every minutes makes no sense

Between yesteday & today, about 100naira difference on 1 dollar to naira

NLC should forget about fighting for any minimum wage because that is not the solution

Fg should not even think about printing more naira because it spells more doom for naira

Invite people who understand economy even if they are not members of APC

This is not a time for paddy paddy arrangement but a time for serious business

There's no justification for dollar selling at over 1700naira

Mr president should have a good rethink before things get out of hand

My humble opinion

Where's the proof that they even care enough to want to do something but were only unsuccessful?
Re: Naira Trades At ₦1,730/$ At Parallel Market by Tochi360: 12:06am On Feb 20
yesloaded:
African leaders n pride

The country can not survive with this kind of senseless inflation

Naira losing value every minutes makes no sense

Between yesteday & today, about 100naira difference on 1 dollar to naira

NLC should forget about fighting for any minimum wage because that is not the solution

Fg should not even think about printing more naira because it spells more doom for naira

Invite people who understand economy even if they are not members of APC

This is not a time for paddy paddy arrangement but a time for serious business

There's no justification for dollar selling at over 1700naira

Mr president should have a good rethink before things get out of hand

My humble opinion

Guy Tinubu doesn't believe in Nigeria,He doesn't care about all this figures,the only thing that matters is to win elections for Tinubu and His evil APC.
Re: Naira Trades At ₦1,730/$ At Parallel Market by Yahoodelababe: 12:07am On Feb 20
This is not fair anymore!
Re: Naira Trades At ₦1,730/$ At Parallel Market by mindtricks: 12:13am On Feb 20
VeeVeeMyLuv:

Don't mind those idiots

CBN give dollar to commercial banks, commercial banks add small costs on top and sell to BDC at higher rate, then BDC adds to his price so he can make profit and sells to the end consumers.

And these idiots expects the rate not to keep increasing?

Re: Naira Trades At ₦1,730/$ At Parallel Market by Ken4Christ: 12:19am On Feb 20
This is no longer funny. The rate at which naira is falling against foreign currencies is fearful. Below are a few suggestions that should strengthen our naira and revive our economy.

1. Stop selling our crude oil dollars. You import and buy in dollar. You also export and sell in dollars. It makes Naira useless. Foreign countries coming to buy our crude or any other products should buy in Naira. It will raise the value of naira.

2. The government should embark on massive industrialization. They should stop importing items we can produce. I feel like crying when I see the millions of Keke imported to Nigeria all over the nation. Can we produce Keke aka tricycle? Are we cursed. There are millions of items we have no business importing.

3. Our borders should be fenced round to reduce smuggling. It's a huge project but it can be done. If they can lay pipe from niger Delta to the north, they can do it. Our open borders makes it easier for terrorism to thrive.

4. The government should take the agricultural sector very serious. We are so blessed and our land is fertile. They should not leave agriculture to peasant farmers.

5. Our railway network should improve. It will reduce the overhead cost on food items caused by high cost of transportation.

6. Build gas stations all over the country and encourage people to convert to gas. It's for cheaper than petrol.

7. Give loans to small scale businesses so they can grow their business and help strengthen the economy of the country.

8. Stop importing refined petroleum products. It gives room for fraud. Make all our refineries work.

9. Make every political office holder account for funds they are given for certain project. And punish without mercy those who misuse or divert public funds for private use.

10. Pass a bill that makes contract inflation a criminal offense. A contract that can be carried out for 500 million will be put at 10 billion so they can have money to share. This is destroying our economy.

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by mindtricks: 12:21am On Feb 20
Kennyswag:
stay there and be crying about dollar that is not your currency ode.

You had to descend to this level just to shove your false narrative down his throat?

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by Yankee101: 12:24am On Feb 20
Konquest:

That's VERY unwise. The military dictatorships ruined Nigeria and laid the foundations of corruption so that's not an option. I lived through multiple military governments and in terms of freedom, democracy is the best. With the military, there's NO accountability and the freedom you have to post defamatory comments or criticisms on NL or other social media platforms would be curtailed by the military guys through brutal arrests, proscriptions of Websites such as NL, and even outright assassinations of identified critics! Abacha looted Nigeria by moving huge sums of money directly from the Nigerian Central Bank to those offshore banks in low tax jurisdiction and as of today, more of those stolen funds of over 4 billion USD are still being returned in trickles to Nigeria.


It's better to changed a civilian politician at the polls than have the highly indisciplined military dictatorships take over governance. Period.

The same military built the 3rd mainland, National theatre, festac town, created most of the new states, created most of the top universities, states private universities in the country, built all the SUBEB headquarters, built most of the existing federal roads in nigeria, even Abacha set up the PTDF run by buhari, almost all the major teaching hospitals were created by the military, etc Too numerous to mention

All the killings that have occurred during the civilian rule such as Boko haram, bandits, IPOB, kidnappings has far outweighed that in the military era

Buhari banned twitter for a while as a civilian, elrufai jailed 2 journalists as governor, plenty of people have been arrested in Nigeria for critisizing civilian regimes

They created the constitution you’re now using

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by xelente(m): 12:25am On Feb 20
completeskills:
If naira keeps falling at this rate , it might fall below gravity.
It is so sad!!
abi,
so na gravitational forces deny naira like this?
Tell me more
Re: Naira Trades At ₦1,730/$ At Parallel Market by Electrochemistry(m): 12:51am On Feb 20
Kennyswag:
how

If I buy ceiling fan at costly rate because it is affected by dollar, I will raise the price of my yam which is locally produced although it is not affected by dollar

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by Konquest: 12:55am On Feb 20
Yankee101:


The same military built the 3rd mainland, National theatre, festac town, created most of the new states, created most of the top universities, states private universities in the country, built all the SUBEB headquarters, built most of the existing federal roads in nigeria, even Abacha set up the PTDF run by buhari, almost all the major teaching hospitals were created by the military, etc Too numerous to mention

All the killings that have occurred during the civilians as Boko haram, bandits, IPOB, kidnappings has far outweighed the military era

Buhari banded twitter for a while as a civilian, elrufai has jailed 2 journalists as governors, plenty of people have been arrested in Nigeria for critisizing civilian regimes

They created the constitution you’re now using
Indeed, a lot of the infrastructure you listed in the first paragraph took place during the oil boom era oo the 1970s to 1981. Then the global economy tanked due to the U.S. increasing their interest rates which led to a lot of countries defaulting in their loan payments in addition to hyperinflation.

The Third Mainland Bridge was originally started by Brigadier General Mobolaji Johnson who was the military Governor of Lagos State from 1967 to 1975, and then Shagari's Civilian government continued the construction till Ibrahim Babangida's goverment continued it till it was finally commissioned.

It was during Babangida's era from 1985 that things degerated and the economy sharply went south. The bad culture of black market currency round tripping, aristos, bad economy due to the infamous Structural Adjustment Program (SAP), festered under successive Military dictatorships till 1999 when democracy took over.

You made valid points about some of those infractions during the civilian administrations from 1999 at the Federal and State levels till now.

But the military did far WORSE to Nigeria in terms of damage and even to itself as an institution with the underfunding of segments of the Army, the Air force and the Police at particular points in history to prevent insurrections and military coups.
Re: Naira Trades At ₦1,730/$ At Parallel Market by Electrochemistry(m): 12:58am On Feb 20
All savings have been rendered useless thanks to miserable government

2 Likes

Re: Naira Trades At ₦1,730/$ At Parallel Market by richeeyo(m): 1:05am On Feb 20
Jnas:
It's even getting more serious.

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Re: Naira Trades At ₦1,730/$ At Parallel Market by Cornpop: 1:35am On Feb 20
Yoruba ah people ah finally destroy da Nigeria
Re: Naira Trades At ₦1,730/$ At Parallel Market by arantess: 1:36am On Feb 20
alsudan:
Definitely hits 2k before February Ends.

As Dull as Buhari was, that man na Albert Einstein where Thiefnibuu dey.
You can say that again
Re: Naira Trades At ₦1,730/$ At Parallel Market by LordBillionz: 1:46am On Feb 20
FreeStuffNg
Re: Naira Trades At ₦1,730/$ At Parallel Market by LordBillionz: 1:47am On Feb 20
Yarimo
Re: Naira Trades At ₦1,730/$ At Parallel Market by comrChris(m): 1:49am On Feb 20
Is it not time to sack this Cardoso of a guy and replace him with someone who understands the job? It's obvious the man is clueless about the job he was appointed to do
Re: Naira Trades At ₦1,730/$ At Parallel Market by Originalsly: 2:03am On Feb 20
Why is this news? ... there is nothing to stop the Naira from depreciating. Loans the FG were taking since under Buhari now have to be repaid... local productivity been dropping off ... more loans were taken adding to the burden .... why are we hoping the Naira will stabilize? Keep holding on to Naira in the bank and watch it lose value daily. If you had N1.5M last week .... converted it to USD... that would've bought you US 1000. If you convert the US back to Naira today... it will bring you N1.7 M. If you hold on to the $1000 .... the amount in Naira will increase daily as the Naira depreciates and when you're ready to convert ... you'll get a whole lot more that if you had it just sitting in the bank. If you think it is too late to convert.... wait in four weeks time... it will he verrry clear to you.

2 Likes

Re: Naira Trades At ₦1,730/$ At Parallel Market by bitingcool: 2:05am On Feb 20
Raise am! Raise am!! RAISE AM!!!
Re: Naira Trades At ₦1,730/$ At Parallel Market by NaBanga: 2:07am On Feb 20
It comes to a point that you don't know what to say.If you can farm, farm. However if you can run, run. Famine is upon the land.
Re: Naira Trades At ₦1,730/$ At Parallel Market by LastProphet: 2:16am On Feb 20
frankputer:
Y
I know the problem.
All online Naira to USD and USD to Naira APP converter(black market) should be blocked from our airspace.
They are the one doing all manner of havoc to Naira.

I don’t think CBN is aware of this platform.
CBN should convert all inflow to Naira automatically,
And ban all online converters

How will they know? Don't we use quota system to select those in cbn and everywhere? So what do you expect?
Re: Naira Trades At ₦1,730/$ At Parallel Market by epainos: 2:38am On Feb 20
EtinosaDLaw:
Tinubu the first-class accounting graduate who once asked Nigerians "shey na statistics we go chop?" will handle economy, while Shettima who once harboured a Boko Haram executioner in his home will handle security. How market now??

Quite frankly, I don't blame Tinubu. The RED FLAGS were there, but some persons voted for him because of their hate for the igbos. He knows that Nigeria houses the largest cluster of dumbfucks in the world, so how did yall expect him to even attempt to give a shit about yall if yall don't give a shit about yourselves enough to shun tribalism?

I mean, the man was literally licking a microphone when he was asked to "test" his microphone during the electioneering campaigns. Don't take my word for it, go to YouTube and search for the video. He was stumbling and falling, making unintelligible statements, depending on teleprompters to make speeches, giving completely unrelated answers to questions he asked, being held like a child during rallies so he does not fall, avoiding debates etc.. etc... etc... yet some people defended him by saying that all they need is his brain, when clearly the man's brain (if he has one) is evidently fried.

Una go learn the way, nor worry.
The truth is that you also don't get what you want. If na Obi you think we should vote for, it is better to suffer with Tinubu, and Atiku is the worst. No dey mention Obi.

If you are just seeing that Nigeria is in trouble, you also have a fundamental problem. I knew Nigeria was in a mess when I saw the 3 candidates. None was ok. But if you see one of them ok, Nigeria is in a real mess.
Re: Naira Trades At ₦1,730/$ At Parallel Market by DWickedLandLord: 2:40am On Feb 20
sonnie10:
But at the end of all these, what exactly will happen?


There will be a country once known....
Re: Naira Trades At ₦1,730/$ At Parallel Market by cococandy(f): 2:43am On Feb 20
Oh my God ! cry

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by putin2: 2:52am On Feb 20
Yoruba people has finally destroy Nigeria. Their share is to destroy Nigeria. They have succeeded

Defence Yoruba ** insecurity
Finance& economy yoruba ××××× economy has collapsed
Re: Naira Trades At ₦1,730/$ At Parallel Market by torqque7(m): 3:01am On Feb 20
EtinosaDLaw:
Tinubu the first-class accounting graduate who once asked Nigerians "shey na statistics we go chop?" will handle economy, while Shettima who once harboured a Boko Haram executioner in his home will handle security. How market now??

Quite frankly, I don't blame Tinubu. The RED FLAGS were there, but some persons voted for him because of their hate for the igbos. He knows that Nigeria houses the largest cluster of dumbfucks in the world, so how did yall expect him to even attempt to give a shit about yall if yall don't give a shit about yourselves enough to shun tribalism?

I mean, the man was literally licking a microphone when he was asked to "test" his microphone during the electioneering campaigns. Don't take my word for it, go to YouTube and search for the video. He was stumbling and falling, making unintelligible statements, depending on teleprompters to make speeches, giving completely unrelated answers to questions he asked, being held like a child during rallies so he does not fall, avoiding debates etc.. etc... etc... yet some people defended him by saying that all they need is his brain, when clearly the man's brain (if he has one) is evidently fried.

Una go learn the way, nor worry.

Unfortunately we co exist with humans with sheep brain,they are too stupid to do what will help their lives, Let me blow your mind,if we have another election today,these same fools will still vote nonsense in and support APC,.

I's just a hopeless situation with these nincompoops we share space with,God can only come to our aid by ki.l.ling them all so that when they are eradicated like the disease they are,the people left with functional brains will salvage what's left of this nation.
Re: Naira Trades At ₦1,730/$ At Parallel Market by liver123(m): 3:09am On Feb 20
Kennyswag:
90% of the people that will comment on this thread don't have any business with dollar as they are poor. But na them sabi talk pass.
mumu comment

1 Like

Re: Naira Trades At ₦1,730/$ At Parallel Market by kikake: 3:13am On Feb 20
alsudan:
Definitely hits 2k before February Ends.

As Dull as Buhari was, that man na Albert Einstein where Thiefnibuu dey.

It's not a problem of apex political leadership that holds everything in Nigeria down.
No messiah of a president can preside better over Nigeria with the present political structure, constitution and governance
system.
Politicians of Nigeria from all sides of the country know this but they are sharing oil dollars instead of restructuring of Nigeria politically, chage the constitution and governance system.

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