BadMaster:
If so, then why is USDT so high on OKX? I hope it's not the usual Nigerian criminality that is in play here.

We will soon arrest the owners of that your OKX

temptnow:
tinubu and his 40 thieves are finishing our reserves by looting it all

A f@ol at 40 is a fo*l forever

temptnow:
tinubu and his 40 thieves are finishing our reserves by looting it all

QUOTE OF THE DAY:

"The CBN is NOT defending the NAIRA! We do not intend to defend the Naira, our policy is clear! A free market, with little or no intervention from the CBN. Our policy remains a willing buyer and a willing seller. The depletion you noticed in our foreign reserve is due to debt obligations inherited, and we just have to settle these debt obligations. It is part of our responsibilities. Such depletion is what you observe with any foreign reserve anywhere in the world. The foreign reserve will reduce and it will increase as we get more inflows. We just received a 600 million dollar inflow. We don't need to defend the Naira; it's not our intention to do so."

- Dr Olayemi Cardoso

Cardoso well done sir.

Tolu181:
Dollar added N130 today

is trading at 1190 today on the black market

yesterday it was N1060

Black market or crypto?

ManirBK:
Good development with BABA TINUBU 1$ to N150 is possible soon

Very possible sir, I love you positivity. I think it's possible over years, because just imagine if dangote and PH refinery can produce and sell fuel and products consistently for 8 years non stop. Other African countries buying fuel by exchanging Thier dollars to naira before buying, What will happen to naira will be more than stronger.

It will take a gradual process for prices of goods and services to come down

SpecialAdviser:
Why are the prices of goods still high?
The big question of ordinary Nigerians.

SpecialAdviser:
Why are the prices of goods still high?
The big question of ordinary Nigerians.

Yes it will still high but with time within a month it will drop

[quote author=sweerychick post=129501244] yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo[you quoted slowpoke(AISHA)]

emkz:


I know that this propaganda is what many of you have been promoting on social media. Despite the CBN Governor saying that he is not defending the naira, you chose to propagate the lie that the reserves are being depleted to defend the naira.

What is this lie meant to accomplish?

Let us even assume the reserves are being depleted. Are there no inflows into the country's accounts? Do you realize that funds which ought to be used to pay a few fat pigs subsidies are now available for other things like clearing legitimate fx backlogs? Are you also aware that foreign remittances alone can help cushion most of Nigeria’s monthly fx obligations? Do you know that not paying out fx directly to beneficiaries of foreign remittances keeps the funds out of the system and be channeled into other things?

Are you remotely aware that $2.3billion came into Nigeria through foreign remittances in February alone?
https://www.reuters.com/markets/currencies/nigeria-sees-surge-forex-inflow-overseas-remittances-rise-2024-03-08/

Do you even know that Nigeria earns money from exports, imports through duties, royalties, mining and even other FDIs?

Many of you need to curb your hatred for Nigeria. You wish the worst upon Nigeria to justify your ego for not voting the person who defeated your candidate. People with such mindsets are evil and should not he in decent company.

For the first time, I am seeing people who understand the economy taking measures to help our country.

But one final truth must be said: some of you would rather die than see Nigeria develop. But guess what: Nigeria shall rise and work for everyone. Anyone who does not wish such until their candidate wins: may their evil wishes NEVER come to pass upon this nation.

You have a problem understanding English language that's why you concluded he said cbn is not defending the naira.

Get an English teacher and pay them to explain the interview to you again.

sweerychick:
yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

only a fool will listen to a nonentity like aisa

sweerychick:
yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

No you're not wrong, keep your dollar closer , that one Na if you get dollar sef.
Omo asé

BadMaster:
If so, then why is USDT so high on OKX? I hope it's not the usual Nigerian criminality that is in play here.

USDT is not the same as USD.
Get it?

rate is going back up ooo

https://www.nairablackmarket.com/page/Black-market-exchange%20rates

SpecialAdviser:
Why are the prices of goods still high?
The big question of ordinary Nigerians.

custom import duty is high

saddler:


You have a problem understanding English language that's why you concluded he said cbn is not defending the naira.

Get an English teacher and pay them to explain the interview to you again.

Olodo he said even at that. Read the comment again and this time slowly without hatred.
First remove the bitterobi spirit in you then read again.
Thanks.

olarent:
Don't price in place, the bag of rice bought for 78 in February is now 52k as at yesterday where I bought in February, papanlato ewekoro in ogun state. Likewise groundnut oil and some others things are coming down.

what'st the price of groundnut oil and palmoil at papa...

CodeTemplar:
What's the balance of FX reserve?

1k

sweerychick:
yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

Ok

I want it to finally drop to 100 naira per dollar.

ngwaIgbo223:
I65 or nothing.

typical igbo hater

Even if he makes it 1 naira to 1 dollar u igbos will still not b satisfied

CodeTemplar:
What's the balance of FX reserve?

Na turn by turn, very soon we go face that one, just calm down, and enjoy the ride.

saddler:


You have a problem understanding English language that's why you concluded he said cbn is not defending the naira.

Get an English teacher and pay them to explain the interview to you again.

I think you need a psychiatrist.
https://www.vanguardngr.com/2024/04/cbn-not-using-foreign-reserves-to-defend-naira-cardoso/

rapheal5:

what'st the price of groundnut oil and palmoil at papa...

Go ask your brothers for market wey dey exploit you.

Your brother buy product for 100, come sell am to you from 350, you wan blame Federal Government?

Why you no blame the state government for price control?

What I just see in some of the responses is people wishing the ₦ continues doing badly and sad it's doing well.
How can any sensible person living and earning within Nigeria in ₦ wish and hopes the ₦ continues sliding?This one just beats my comprehension.
That's a whole new level of depravity.
For some others asserting that this appreciation would soon lead to the wiping offf of our foreign reserves because they believe that is what the CBN is using to prop up the Naira,the question they should answer is this:does it mean Nigeria hasn't been earning any foreign exchange during these time and won't earn more as the days and months go by?

Noblemanonpoint:

USDT is not the same as USD.
Get it?

rubbish! If not the same then why did the stupid government stop binance from operating it psp and also the trading of usdt/ngn

Go and ask obi😜😜

CodeTemplar:
What's the balance of FX reserve?

Hoelujohn:

QUOTE OF THE DAY:

"The CBN is NOT defending the NAIRA! We do not intend to defend the Naira, our policy is clear! A free market, with little or no intervention from the CBN. Our policy remains a willing buyer and a willing seller. The depletion you noticed in our foreign reserve is due to debt obligations inherited, and we just have to settle these debt obligations. It is part of our responsibilities. Such depletion is what you observe with any foreign reserve anywhere in the world. The foreign reserve will reduce and it will increase as we get more inflows. We just received a 600 million dollar inflow. We don't need to defend the Naira; it's not our intention to do so."

- Dr Olayemi Cardoso

and you believe that crap? Is there any forensic Audit to back up the claim?.. don't worry una eyes go soon clear

nairalanda1:
Naira has never been a strong currency

Think about it. All the main reserve currencies have one thing in common...the countries they come from are major industrial exporters, or have a solid industrial base. (Euro, Dollar, Pound, Yen, Yuan).

No oil producer's currency is a reserve currency because the strength of the currency is based on how much forex they can make from oil. Once the oil price crashes, so goes the currency.

.

What exactly is your point?
The Japanese yen is 150/$
The South Korean Yuan is 1370/$
These are 2 of the strongest economies in the world.
A country's economic strength is not determined by the face value on it's currency,but on it's earning power,get that into your thick skull.

emkz:


I know that this propaganda is what many of you have been promoting on social media. Despite the CBN Governor saying that he is not defending the naira, you chose to propagate the lie that the reserves are being depleted to defend the naira.

What is this lie meant to accomplish?

Let us even assume the reserves are being depleted. Are there no inflows into the country's accounts? Do you realize that funds which ought to be used to pay a few fat pigs subsidies are now available for other things like clearing legitimate fx backlogs? Are you also aware that foreign remittances alone can help cushion most of Nigeria’s monthly fx obligations? Do you know that not paying out fx directly to beneficiaries of foreign remittances keeps the funds out of the system and be channeled into other things?

Are you remotely aware that $2.3billion came into Nigeria through foreign remittances in February alone?
https://www.reuters.com/markets/currencies/nigeria-sees-surge-forex-inflow-overseas-remittances-rise-2024-03-08/

Do you even know that Nigeria earns money from exports, imports through duties, royalties, mining and even other FDIs?

Many of you need to curb your hatred for Nigeria. You wish the worst upon Nigeria to justify your ego for not voting the person who defeated your candidate. People with such mindsets are evil and should not he in decent company.

For the first time, I am seeing people who understand the economy taking measures to help our country.

But one final truth must be said: some of you would rather die than see Nigeria develop. But guess what: Nigeria shall rise and work for everyone. Anyone who does not wish such until their candidate wins: may their evil wishes NEVER come to pass upon this nation.

Do u need to argue and educate clowns? They want their statistician general to be president at all cost, statistician that once ruled a small republic and came out with next to nothing with shares he foolishly acquired "after carried money go panama save haven"

I'm very critical of Tinubu from very beginning, but his policies of recent made me to start changing mindset.

The man really wants to solve Nigeria hydra-headed problems. For the "dot nation', they would never see joy for next 7 + another 8 years.

Pls allow them to wail, but make sure they weep inside basket.

spagettiluv:
.

So pe "OTILO"

eddychukwu:
What is the fate of those that invested in the dollar at N1,600?

Check my signature

o ti lo