Source: Vanguard Newspaper

Hmmmm
But what I don't understand is that while the Dollar was increasing, food prices were on the rising, and now that Naira is rising, food prices is still on the increase.
There is FG juju at play somewhere.

APC said ₦216 per Dollar was too much. Therefore, no APC government is good unless Naira goes below 216 per Dollar in the regime.

Praising the government when Naira is 216 per Dollar means praising stagnancy.

Praising the government when Naira is above 216 per Dollar means praising backwardness.

Call me anything you like.

Wonders shall not end. Parallel market is cheaper than the official window

CBN governor, you do this one. Thank you

michlins:
Wonders shall not end. Parallel market is cheaper than the official window

CBN governor, you do this one. Thank you

Foreign reserve is going down deeply. We all know why naira is depreciating now.
The next move is for the government to borrow billions of dollars to defend naira. This method cannot sustain for long. CBN has given out 2 billion dollars in less than two months to banks and BDCs to defend naira. This is sad.

Ok we have heard. Anything else?

Let the dollar keep dropping, things are very hard for Nigeria with salary similar or lessthan minimum wages. Let the dollar continue it's free fall so that Nigeria will Enjoy

Lordsonn:

Foreign reserve is going down deeply. We all know why naira is depreciating now.
The next move is for the government to borrow billions of dollars to defend naira. This method cannot sustain for long. CBN has given out 2 billion dollars in less than two months to banks and BDCs to defend naira. This is sad.

Deeply? It has gone down by less than 6%.

And where is your proof that that money was used in defending the naira? The guess work by Bloomberg Africa's Nigerian reporters doesn't cut it.

Like I posted on a different thread, and I would post here again.

Since you are expert..Can you explain why there is a convergence between the parallel and official markets?

In addition, check out the below

PBAT administration met $34 billion in our foreign reserve June 2023.

Off the top of my head :-
-This administration paid $500 million Eurobond in July 2023.

-Paid external debt in Q4- : $900 million

-Paid CBN legacy debt of $7 billion

-Paid ways and means debt of $4 billion

That is $12 billion.

I am aware the government also paid $1 billion to the USA government for weapons in November 2023

We don’t know how much credit line and importation has been paid for. We are yet to see what the government paid for external debt in Q 1 2024.

But let’s cry, because we have a $32.5 billion in our reserves. $1.5 billion drop from where this administration met it despite over $12 billion expenditure.

Poor reserve 😪😪😪😪. The government chose to defend the Naira instead of attacking the Naira

Lordsonn:

Foreign reserve is going down deeply. We all know why naira is depreciating now.
The next move is for the government to borrow billions of dollars to defend naira. This method cannot sustain for long. CBN has given out 2 billion dollars in less than two months to banks and BDCs to defend naira. This is sad.

if the government wants, they should borrow trillions to defend the naira. The masses are not going to suffer the consequences of their looting and inability to save.


It's extremely important that the masses know that. The job of the government is to make life easier for the masses. But in Nigeria, the government makes the masses feel that their "taste for luxury goods" is the reason the economy is bad.

They have provided you with copy n paste your ipob obidient soul will be posting across all social media platform today.

Well done !

I hope they pay your stipend when the day is over so you do not labour in vain.

immortalcrown:
APC said ₦216 per Dollar was too much. Therefore, no APC government is good unless Naira goes below 216 per Dollar in the regime.

Praising the government when Naira is 216 per Dollar means praising stagnancy.

Praising the government when Naira is above 216 per Dollar means praising backwardness.

Call me anything you like.

blancsn1:
They have provided you with copy n paste your ipob obidient soul will be posting across all social media platform today.

Well done !

I hope they pay your stipend when the day is over so you do not labour in vain.

Point out any falsehood in my comment or admit that you are a thug hating the truth that does not glorify whoever fools you into thuggery.

Lordsonn:

Foreign reserve is going down deeply. We all know why naira is depreciating now.
The next move is for the government to borrow billions of dollars to defend naira. This method cannot sustain for long. CBN has given out 2 billion dollars in less than two months to banks and BDCs to defend naira. This is sad.

When the illiterate people open their mouth to talk, it is very easy to decipher. You were told that it is the parralel market that had a slip and not the official market yet you still arguing blindly. You just sit down behind the keyboard with a wrap of weed between your fingers, typing loads of dogshit in your head.

Cardoso need to pump more $ at N750 so as to bring it down to N800 next week.
Let's defend the Naira with our blood.

Ipob terrorists won’t like this news….most of them would have collapsed by now because of good news