₦airaland Forum

Una no dey see wetin dey happen? Una no dey see madness and brainwashing?

When your account balance or Bp dey fail no be reduce and drop dem dey call am?

So how naira go drop from N1,5 to N1,3 dem dem go say na appreciation? See as dem dey take the control una say white na black and black na white and Una dey gree.

EponObi:
No surprise to some of us who spotted the talent of Cardoso very early. Yemi Cardoso is Asiwaju's biggest and most valuable assets in this administration. I place him very far ahead of Tunji Ojo, Umahi, and Wike. The man got the hardest job in Africa and he's delivering.

The most amusing part of his journey is how simply he corrected the rot in the CBN and out financial systems. Genius is simplicity. The headmaster for a reason

Wale Edun needs to catch up. We are on the right track - I've always said it.

Some mumus will come to this thread to ask "why hasn't it reflected in the price of commodities in the market?" You people should ask your greedy and wicked market merchants and the importers, who will tell you they stocked their warehouses when dollar was very high - even those that haven't restocked since last year.

At some point the FG will go after merchants who refuse to let their prices reflect the economy reality.

There's no doubt the merchants are the elephants in the room. They do have unions that make uniform decisions on price mechanism from the point of wholesale to the point of retail. They have so much leverage in influencing price of goods which is bad news. Those trade associations needs to be disbanded or made known they are under investigation for economic sabotage.

yudee233:
More positive news, Naira should trade below N1009

$1 = ₦1 was the promise.

Is $1 = ₦216 okay was the question.

Let the positive new continue and until it gets to what it was when the questioned the exchange rate and used it against Jonathan , then they haven't started.

sleek214:
Nice . Not a Tinubu fan but a patriotic Nigerian. I pray God to guide Tinubu right so we can all have the Nigeria of our dreams. God bless Nigeria.

When you guys want to say this things, remove God from the equation. God does not deal with criminals.

webizone:
Well, it may be a lie but the exchange rate is reflecting it. Maybe hot air releasing, but it moved, lol.

The market reacted to the news, which is most likely a lie from FG. When the truth comes out, you know what will happen.

VanuatuWycombe:
The guy and his team are trying though but let’s praise that Ibo guys that did the investigation on CBN too. They did a very wonderful job.

Jim Obazee! 😂 That guy!!!

He came in with the bulldozer and dismantled anything destroyable. The guy did a very clean job. He landed fast, precise, and devastating blows. Respect!!!

sleek214:
Nice . Not a Tinubu fan but a patriotic Nigerian. I pray God to guide Tinubu right so we can all have the Nigeria of our dreams. God bless Nigeria.

Na the koko .. make Nigeria better be the thing

webizone:
Oh, na only jailing you wan do? Buhari even flogged people to sell cheaper in the 80s. Did it work? NO!
You have to wait with others while the market is readjusting. If you are wise, instead of coming here to complain, you should have spotted an opportunity to buy goods yourself at a cheaper exchange rate and compete in the market.

This is why good economic policies are paramount for any serious government.

It's not wiseness but excessive cheating to be rich.
Everyone can not go in buying and selling, there won't be bus drivers, plumber, farmers etc.
U guys armed ursef to attack those who say the truth.
Igbo business people and filling station business. Better filling station.

Ofunaofu:
The way you guys shower praise on these individuals makes me wonder.

How do you measure performance and growth?

How much was Naira exchanging for a dollar when Tinubu took the oath of office?

How much is it exchanging today?

Nigerians can only take these people seriously when the naira begins to appreciate below the #700 to a dollar when Tinubu took over. Not crashing the Naira to over #1900 to a dollar with its attendant negative economic impact, then begin to appreciate it to where it is today, and you are rolling out the drums, praising the same people who made the Naira worthless. 

Right now, you are blaming the marketers and importers, accusing them of being greedy. Who provided them that opportunity? Tinubu, through his thoughtless economic policies

@bolded
It was exchanged for over NGN800 at the parallel market.
The official rate was heavily subsidised and laced with corruption.

Teymanhenry:
FG should set up a committee that will check and control the market commodity prices. Only then will this dollar valuation directly affect the prices of our commodities. These market people are making our lives a living hell

True i concur

Kudos to CBN & Cardozo

Honestey:
Gradually Gradually N1 = $1 Loading....

Sensationalism will let people speak swell words! Be calm and observe first.

sslcrypt:
There's no doubt the merchants are the elephants in the room. They do have unions that make uniform decisions on price mechanism from the point of wholesale to the point of retail. They have so much leverage in influencing price of goods which is bad news. Those trade associations needs to be disbanded or made known they are under investigation for economic sabotage.

I'm very sure Tinubu will come after them in the future. It will be a child's play compared to how Bago banned food export from his state and when Kano State government shutdown some warehouses last month.

Donaldoni:
@bolded
It was exchanged for over NGN800 at the parallel market.
The official rate was heavily subsidised and laced with corruption.

It was not over NGN800

It was exchanging between NGN760 to NGN775 to a dollar at the parallel market as @ May 30, 2023

Ofunaofu:
It was not over NGN800

It was exchanging between NGN760 to NGN775 to a dollar at the parallel market as @ May 30, 2023

Are you sure

It once reached NGN900 o - late 2022.

EponObi:
I'm very sure Tinubu will come after them in the future. It will be a child's play compared to how Bago banned food export from his state and when Kano State government shutdown some warehouses last month.

The government should be create policies whereby more individuals are allowed to operate in the space. They can be supported by loans, direct access products and couple of other things. By doing such I think it will weaken the stronghold few individuals have over a market.

The price of my imported goods remains the same please.

I cannot buy dollar at 1,800 and you expect me to bring the price down. That's not gonna be possible. My 2 warehouse are stock with goods I bought at the rate of 1,800.

For now the price remains the same please. Thank you

yudee233:
More positive news, Naira should trade below N1009

Why 1009? Why not 1002?

Newton1045:
Nigerians are so wicked, Igbo traders making calls in the market to hear if dollar is going up...... They quickly double the prices


Now Dollar is down, they say old stock.

I swear to God, if I be Tinubu I ll jail dozen for years for their silly actions.

They make east unliveable. They spreading such attitude everywhere

Cry cry baby

Bfly:
Why preaching to people to dump dollar?

They're trying to mop up the dollars and boom, more naira starts chasing fewer dollars and kaboom naira drops to 2500 to 1usd.

teadrake:
Before April, Naira will likely trade N800 against the 1USD.

Unfortunately it’s not black and white. Naira can only improve in the long run if we get our productive and exporting capabilities right. The recent progress is attributed to the pumping of usd to offload dollar backlogs and make dollar increase in abundance. It is not sustainable and the dollar will fight back soon. Brace up for the months ahead, and let’s see what currency will thrive. I hope it’s the Naira though

Donaldoni:
Are you sure

It once reached NGN900 o - late 2022.

Very sure

Check it out yourself

sleek214:
Nice . Not a Tinubu fan but a patriotic Nigerian. I pray God to guide Tinubu right so we can all have the Nigeria of our dreams. God bless Nigeria.

Our prayer is that things get better irrespective of who is there.

eeithis:
If price of bikes cars and food stuffs doesn't come down then theres no need of naira selling for 200 sef

There's is an alternative. People will begin to order goods directly from abroad either individually or in group. By so doing those greedy merchant will have no choice but reduce their prices.

commoditiesnig:
True i concur

Kudos to CBN & Cardozo

the dollar is just not in demand now, I hope by June/July when Naira is 2000/$ you will still say kudos to CBN

tiswell:
Naira appreciation wen nor dey ever affect the high cost of goods and services in Nigeria,is that one appreciation?

nigeria marketers and importers are greedy

teadrake:
Before April, Naira will likely trade N800 against the 1USD.

how ?? Better do check up for malaria..

yudee233:
More positive news, Naira should trade below N1009

We shall get there and some Nigerians, who are enemies of their own country just bcoz of hatred, shall be put to shame.

It can't reach there, if it comes to #500, I will personally like Tinubu to stay in power until death. It was devalue at 800. Coming to #200. Men we re made as a Nigerian. I pray this trend continues.

vibbb:
Hopefully Naira will gain a very good strength 200 per USD. Government should set up a strong independent body for price control - Manufacturers in Naija needs to be checked, practically they are also contributing to the problem.

Nickelodeon93:
the dollar is just not in demand now, I hope by June/July when Naira is 2000/$ you will still say kudos to CBN

Your wish would never come to pass. Unfortunately for you, you don't even have the money to buy in June July. Enemy of good news.

freddie009:
Our prayer is that things get better irrespective of who is there.

Exactly, we want a better economy than what Buhari bequeathed to this nation. Let the economy pick up but some politicians would not allow this to happen bcoz of political points. God will shame them. We need an economy that works, where our currency will regain its value.

Donaldoni:
Are you sure

It once reached NGN900 o - late 2022.

Yh...but started to crash when there was rumour that America had changed the face of the US Dollar and that the old ones will soon start getting rejected... hoarders them flooded the market, reason y it crashed ti 700...

i have a question

does trading affects forex?

if it does, does that mean that trading market can crash?

for a trader, which one is good


dollar should rise
or

dollar should fall