Zico5:
Easy said than done. Give this man just one day, he will destroy everything

Still does not override the accuracy of his recommendations. Our earning in FX is very low. Until there is a significant improvement in local production and corresponding increase in exportation, nothing will change. What we are currently treating are the symptoms and not the root cause. It is not a rocket science

The most easiest job in this world is the job of a spectator. He only sit, and watch thing as they unfold and then give the perfect advice on how the person who did it should have done it.
Consumption to Production (Demand and supply) is the basic economic mathematics that even the woman in the market understand talkless of the educated people in power.
Nigeria Consumption/Production habit has been a major problem for years and you can not expect that to be turned around overnight.
Government can not focus only on one thing; while they find ways on Consumption/Production, they need to work on saboteurs who take advantage of the system.

We all need to understand that all develop countries got there through different reforms and policies; several trials before they could find the suitable one. Policies are peculiar to culture and environment too; the policies that work in a sincere environment will be tough to find place in a country like Nigeria where almost everybody is a thieve.

How do we achieve strong regulation when there is no enforcement in a capitalist economy?? Let the government carry out it's function on saboteurs and illegal operators please.

Obi been dey make sense. E don dey listen to madman again.

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

idea on how to rule Nigeria? 'Hoe bee' that was Governor for 8years and could not solve common erosion problem,If he had no idea to solve simple erosion problem in his state,how can he have an idea on how to govern Nigeria?

jmoore:
Tinubu's advisers and cabinet are operating like Ahitophel who was advising Absalom.

The stupidity in using guns to solve forex crisis.

But Jehovah knows how to rescue his own. But God made Ahithophel advise useless. We pray for our leaders so that they may rule with wisdom to the glorification of God.
Those planning evil against the country, may they be put to shame. Just like Harman who plotted to destroy the Israelites but ended been destroyed.

But naira has been gaining. This guy will criticize anything

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

It will go back up again, the problem is still there it’s difficult to solve.

johnjose68:


This one just finished consuming obi poo. So bdc lining up the streets of Abuja and Lagos transacting billions of dollars for obi and politicians without kyc is referred to by you as: "change money across borders"

From your comment it's obvious you think with the head of your small prick which is obviously bigger than your brain.

MikoB:


No one regulates? I can see you know nothing, I am living in a city of over 400thousand inhabitants, believe me the day I wanted to change euro to dollars, it took me over one week in the bank, so many questions and forms to fill, eventually they were the one that decided the limit of how much I can change.

You went to the bank to change currency, and you compare that to the open system of exchange??

The moment I saw EFCC harassing BDC folks, I just knew this Government have completely lost it, no person who understands an open market, economics and trade will attack BDC's as the main cause of an ailing currency, infact it sounds dùmb.

FYI the Government has made it worse, because they have suppressed a market that conducts a considerable supply of FX nationally. In the absence of BDC's, can only banks keep up with a steady national fx supply... the answer is no, because there was already an fx supply shortage in the first place.

Therefore that increased demand for fx will still crash the Naira value down, don't forget CBN has been illegally printing more Naira than stated, thus there is an excess of Naira in circulation, so in a situation where the value of the Naira is floated... what do you think will happen?

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

why say so.....his advice is need for the survive of the country,abi if the country end now, which country will he become their president.

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

Well said

Hehe na so I go see one forex guy . The guy was panicking and sweating bullets when I saw him 👀👀 . I say Ogbeni why you Dey panic like this na , the guy say dem Dey arrest BDC guys 🤣🤣🤣🤣 . The guy say the whole country done red finish say him no Dey even buy dollar again

In his several years of being a billionaire, how many production companies can he point to...

Where are his factories in Nnewi, or Agbara, or Aba or Sharada or Oluyole....

He will proudly say he is a Trader....using scarce FX to bring in goods that he could have manufactured here and create employment....Doing that from his youthful age till now...
And now that he is a seventy year old man (in Asari's voice)....he suddenly remembers the power of production...No be fellow billionaires like am set up innoson, Emzor paracetamol, Chivita etc....na to dey import wine, tin tomato, mayonnaise and tooth pick....

Nigerians kuku no know the difference between black and white....every comment is good to them

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

FOR GIVING ADVICE THEY WILL NOW SAY OETER OBI IS THE PROBLEM




WATCH AND SEE








.

Is this action against the BDC operators not part of fighting corruption or I'm I missing something?
Talk on the surface is cheap when you don't even know how to actualize your talks.
Mr Obi thinks corruption is just in government.

jumper524:
The raid was not on bdc but on those Mallam engaged in an already outlawed activities.
BDC operators were only slammed with regulatory policy so as to tighten the loop holes they exploited.
The naira has been on steady gain ever since and today it's 1600.
I'm sure Peter obi was the same person who clearly stated you don't remove a teeth just like that because it aches you.

Corruption, underproduction are part of our problem, we aren't pleased with that but then we don't allow a new problem of negative speculation develope into a critical one because we are fighting a much bigger problem.
Problem in it's self is well managed at an initial stage.

Is this gain based on real economic improvements or just a normal TA of an overbought price pair?

After this drawback, the explosive tumbling of the naira will shock both the living and the dead.

FX has TA and FA for a reason o.

Iamhawkeyez:


incase you no know, know now, I can reliably inform you that the BDC'S were forced and threatened by the government to reduce the price of the dollar or face the consequences, so this reduction is temporarily fixed it MAY not be sustained. Which economic gains or production has the country made in a short period of time to reduce the dollar? even the toothpick is backed by the dollar in Nigeria cos without dollars to buy from China or wherever , Der will no toothpick in the whole of Nigeria that why the naira is overstretched, we need to be productive for ourselves nd we also need to export, so the naira won't be changed to the dollar for trivia tins and countries will bring in dollars to buy from us.

so what are you producing,I think is better to use what ever working strategy to hold it.

sukkot:
Hehe na so I go see one forex guy . The guy was panicking and sweating bullets when I saw him 👀👀 . I say Ogbeni why you Dey panic like this na , the guy say dem Dey arrest BDC guys 🤣🤣🤣🤣 . The guy say the whole country done red finish say him no Dey even buy dollar again

😆😆😆

chisomkachy:


Peter Obi

Oga hush... If you be BDC drop location make them raid

Af0nja:


You went to the bank to change currency, and you compare that to the open system of exchange??

There is no open stystem like the one in nigeria here, it's either in the banks or a regulated closed offices.

PO don drop another quadratic equation. Can the Tinubu led government find the variables and solve this? If they do, better for us all.

Ironically, the person shouting production is one of the major importers of everything even to toothpicks to his supermarkets.
I love the way the government just ignored him with no response. They prefer to respond to Atiku.

dettolgel:


We have the habit of destroying people's business as a way of punishment.

God bless u for the bold
They don't know they further destroy the economy by doing this. A country without job, the little job people manage to create for themselves, they still take it from them all in the name of solving a problem they created themselves.

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

For how long, ask yourself this question

MikoB:
There is no place in any developed country, that you will find trading of foreign currencies carelessly on the streets like in nigeria, both registered and unregistered, illiterates etc, that do not not even know the basic knowledge of economy are allowed to free-trade the currencies in nigeria. I am in support of clamping down on the street trade and I am suggesting apart from the airports, every other currency trade should be down in the banking hall, every bank should create a space for a registered bdc transaction for a better monitoring.

please which country are you residing in?

Naijadaily:
Peter Obi is shouldn't let his pain of losing override his sensibilities, the naira has been on steady appreciation ever since CBN begun its crack down. Wouldn't be surprised if Peter Obi owns many of these road side BDCs. He should just shut up. Commend when you have to Commend , condemn when you have to condem.

I will believe you,if it continues by Monday

Man is sound.... Man understands economy... Man is vast..... Man reads..... Man does his research well but na druggie ancestor dey rule.


God bless PO

SMARTMOTORS:
The idiots go soon ask you weda na Statistics we go chop!...I don't even like the fact that you're advising the Govt. Just free dem, Nigerians need their brains reset! So that next time dem go do the right thing!

don't you think thy did the right thing but was rigged?

MikoB:
There is no place in any developed country, that you will find trading of foreign currencies carelessly on the streets like in nigeria, both registered and unregistered, illiterates etc, that do not not even know the basic knowledge of economy are allowed to free-trade the currencies in nigeria. I am in support of clamping down on the street trade and I am suggesting apart from the airports, every other currency trade should be down in the banking hall, every bank should create a space for a registered bdc transaction for a better monitoring.

Well said