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.

Were they given out free or exchanged for naira Government needs naira for local spending you know.

favor914:
Which weak economy, you still dey cry over last year’s actions by The FG?

See the nonsense this one is saying
You don't know the action can affect generations to come if it is not properly managed? Are Nigerians not still suffering the effects of these actions till date? Most of u don't have brain!

[quote author=Kukutenla post=129481561]I believe Cardoso and his team now have the right template to stabilize the naira and close the forex gap.
But our naira ought not to have tumbled this badly if the president had exercised restraint a bit with his knee-jerk eagerness to impressin his first weeks in office.
The challenge now is to bring the naira down without exhausting the reserves.

The reserve that that will soon hit OIL abi na another one?😏

jayce232:

See the nonsense this one is saying
You don't know the action can affect generations to come if it is not properly managed? Are Nigerians not still suffering the effects of these actions till date? Most of u don't have brain!

Nigerians no dey suffer before Tinubu enter Aso Rock, abi you dey look 👀 for who you go blame for your poverty?

Na today una start to dey suffer for Nigeria, if una they enjoy for Nigeria under Pdp, why una vote Uncle Jonathan out of power in 2015?

favor914:
Nigerians no dey suffer before Tinubu enter Aso Rock, abi you dey look 👀 for who you go blame for your poverty?

Na today una start to dey suffer for Nigeria, if una they enjoy for Nigeria under Pdp, why una vote Uncle Jonathan out of power?

Shut up your trap!
Your head is empty
The war Ukraine & Russia are fighting till date was a decision taken over 2 years ago, till date the people are still suffering it. Coming here to say someone is crying over a decision made last year bespeaks u are nothing but a slowpoke. You don't know decisions have ripple effect??

greenermodels:
All these confusion and pains would have been avoided if Tinubu had not prematurely floated the naira without thinking of the consequences, now they're wasting billions of dollars to defend the same naira from falling to its true value. A case of acting before thinking.

Hmm

favor914:
There are over 220 million people within the borders of the Federal Republic of Nigeria, including millions of lazy people, & Almijiris, If you like don’t go & find a way to prosper your life.

India has over 1 billion people and their economy is doing better than yours, they don’t have lazy people and almajiris ba?

The telecom sector should remove this #50 data, many clowns are abusing the opportunity

CodeTemplar:
That's what happens when you ignore the foundation of economics - production - and focus on adjusting variables in a bid to spark reaction that can boost indices.

In his voice "Na statistics we wan chop"? 😂😂😂

SpecialAdviser:
My problem in all these is that the prices of goods are not coming down. Agbadorians will be disturbing us with nye nye nye. yan yan yan

What a BAND F government. Worst in the history of Nigeria. Chai

Those South_wastern punks are really dying in hunger 😊..

SpecialAdviser:
My problem in all these is that the prices of goods are not coming down. Agbadorians will be disturbing us with nye nye nye. yan yan yan

What a BAND F government. Worst in the history of Nigeria. Chai

Prices are not coming down because the market does not react to sentiments and emotions. The speculators are specialists in arbitrage trading. They understand that the CBN is only buying time in the short term and it’s only a matter of time before the forex reserve depletes.

Businessmen are no fools, they know what artificial measures Cardoso is taking to defend the Naira. They also know that our FX reserve is too meager to guarantee price stability in the medium to long term. They understand that reducing prices and taking losses in the short term without a guarantee that the market will remain stable in the long term can be disastrous to their businesses.

The speculators are holding onto their dollars while the businessmen are maintaining a perceived fair market price for their goods and services. Nothing the CBN says or does make sense to any rational mind. Everyone is maintaining the status quo.

AMI3:

U are funny. So all Nigerians live in Lagos

Bodija is even in Ibadan not Lagos

tnerro1:


India has over 1 billion people and their economy is doing better than yours, they don’t have lazy people and almajiris ba?

The telecom sector should remove this #50 data, many clowns are abusing the opportunity

Go and better your life for yourself by yourself.

were are the clowns celebrating the abracadabra appreciation of the naira APC is just wasting everyones time you can't defile the laws of production and still achieve efficient productivity let them keep playing

jayce232:

Shut up your trap!
Your head is empty
The war Ukraine & Russia are fighting till date was a decision taken over 2 years ago, till date the people are still suffering it. Coming here to say someone is crying over a decision made last year bespeaks u are nothing but a slowpoke. You don't know decisions have ripple effect??

Na because of APC you be poor man today for your fatherland, wetin concern me with Ukraine & Russia fighting?

favor914:
Go and better your life for yourself by yourself.

😁,

As I Dey here so, I go post 1000 dollars write ur name put to show ur say na recent post, if you no post ur own make motor kill you as you step out today. Do you accept this challenge?

Coward favor 419, I still dey wait for you to accept my challenge?

favor914:
There are over 220 million people within the borders of the Federal Republic of Nigeria, including millions of lazy people, & Almijiris, If you like don’t go & find a way to prosper your life.

you and your family will soon be kidnap. Emilokan will not pay penny for una ransom. Emilokan doesn't know you exist

ogododo:


https://dailypost.ng/2024/04/17/naira-records-first-depreciation-against-dollar-in-months-amid-fx-reserves-decline/

No going back....... the Naira will continue to appreciate.

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.

Did they collect the naira equivalent ? Who owns abroad remittance?

favor914:
Na APC put you inside poverty abi?

I'm not talking about myself, rather the poor and vulnerable people like you.

ogododo:


https://dailypost.ng/2024/04/17/naira-records-first-depreciation-against-dollar-in-months-amid-fx-reserves-decline/

N1,136 ke? I think say agbadorians were quoting 950 naira the other day.

These people and lies ehn… you can’t even know what is true anymore.

Enemies of Nigeria are those Multi Millionaires and Billionaires, like EMI LO KAN & co with their Tanks full of #,€,$ £

This is inevitable..

CBN can't determine the value of Naira, Forex demand and supply does.

They can only defend it and buy time for those activities that generate Forex.

Kukutenla:
I believe Cardoso and his team now have the right template to stabilize the naira and close the forex gap.
But our naira ought not to have tumbled this badly if the president had exercised restraint a bit with his knee-jerk eagerness to impressin his first weeks in office.
The challenge now is to bring the naira down without exhausting the reserves

the challenge? 😂 I thought you guys are celebrating. Anyway we shall see

tnerro1:

😁,

As I Dey here so, I go post 1000 dollars write ur name put to show ur say na recent post, if you no post ur own make motor kill you as you step out today. Do you accept this challenge?

favor194, fearyourcreator, yarimo and other miserable Ronus. They are perpetual failure in life. Fearyourcreator has a failed marriage. He said he's not happy in his marriage. Tell me how would such person elect a reasonable leader in Nigeria?

favor914:
You dey ask why your fellow citizens they cheat you?

No one has cheat us like the agbado regime.

keymatt:
No one has cheat us like the agbado regime.

Who be your state Governor?, with that information I go fit profess solution for your situation.

ogododo:


https://dailypost.ng/2024/04/17/naira-records-first-depreciation-against-dollar-in-months-amid-fx-reserves-decline/

If you have any investment in Naira, check and you will see that your gain is dwindling every day.

My investment in one insurance company recorded loss of N23,669.59 within 19hrs. And I keep asking, where exactly is the effect of this rise in Naira felt?

Let me give u another example.
If you are a civil servant that is registered to any PFA, if you can access your pension contribution with PEN Log in details.
Log in in the morning to see how much is in ur contribution. Log in again in the evening, you will notice that the money u had in the morning has dropped.
This is part of bad economy and poor value of the Naira.

Exactly....I keep telling people that the biggest mistake was rushing to devalue the currency without proper thinking. He had a rush of blood in his head..mumuman

greenermodels:
All these confusion and pains would have been avoided if Tinubu had not prematurely floated the naira without thinking of the consequences, now they're wasting billions of dollars to defend the same naira from falling to its true value. A case of acting before thinking.

favor914:
Who be your state Governor?, with that information I go fit profess solution for your situation.

My state gov has performed more than Tinubu.

Well said....the guy no get experience at all...he thought Nigeria was Lagos where he was taxing and stealing the money. That singular act of devaluing the currency withiut putting proper anti inflation buffers in place has done an irreparable damage to the economy...it can not recover it in 20 years.

Kukutenla:
I believe Cardoso and his team now have the right template to stabilize the naira and close the forex gap.
But our naira ought not to have tumbled this badly if the president had exercised restraint a bit with his knee-jerk eagerness to impressin his first weeks in office.
The challenge now is to bring the naira down without exhausting the reserves

Psoul:


If you have any investment in Naira, check and you will see that your gain is dwindling every day.

My investment in one insurance company recorded loss of N23,669.59 within 19hrs. And I keep asking, where exactly is the effect of this rise in Naira felt?

Let me give u another example.
If you are a civil servant that is registered to any PFA, if you can access your pension contribution with PEN Log in details.
Log in in the morning to see how much is in ur contribution. Log in again in the evening, you will notice that the money u had in the morning has dropped.
This is part of bad economy and poor value of the Naira.

If I was near you , I would have brought you something very cold for this your analysis, you don’t need Chicago certificate to know when the lies are not adding

Naira will appreciate.
This one na GRA GRA.

BY the time EFCC deals with all the people devaluing and abusing Naira while CBN do their work and consumer protection agency and other bodies swing into action things will get back to normal.

Some people want dollar to appreciate and naira to depreciate. But God pass them.

Meanwhile why is our crude oil production reducing. This time that price of crude oil is soaring towards 100$ per barrel It is risky oooh. Crude oil production and other services production should increase as well.

Price of fuel and diesel should fall too. Flight fare should reduce. Infact prices of goods and services should fall.

We need things to get better. We have suffered enough.