Cardoso knows the reserve is running out so they're looking for who to blame

PressMyButton:

Repeat the same trash over and over again to make it sound true despite the fact that you have been enlightened over and over again. Bunch of slowpokes.

Once d writing don long na rubbish full am

Hashabiah:
...and yet Nigeria's foreign reserves has depleted . Which goes to show that the Nigerian government is secretly keeping the naira afloat with dollars. Soon and soon the floodgates will pour open and the naira will depreciate further .

What do you even know abt foreign reserve.

What is it used for.

I dey wait for your explanation

Blame Peter Obi

Una go learn by force!

There are still like thousands of platform to trade usd and crypto

Before we embark on a wild goose chase banning unknown crypto dealers, can Cardaso and Co show us data that indicates that crypto is responsible for the declining value of naira. He has the best economists on call, all actions taken should be based of reliable research and data not speculations, gossip and rumours.Let all actions be data driven please

Don't let the govt deceive you. Our oil production is about 50% (1.5 million barrels per day vs 2.5 million during Jonathan due to oil theft now) and poor agricultural outputs due to insecurity so where will enough forex come from?

seborrhic:

Infact that is the part that is baffling.
I for one believe without a doubt that Obi would have made a better president and was actually even rigged out.Atiku too was a preferable option than Babablublu,but for anyone to support the speculation that Crypto guys were doing and to be rejoicing over the then drastic and quickening devaluation of the ₦,is beyond comprehension,should not and cannot be encouraged unless u live abroad or are a crypto currency speculator.
Therefore,any measure(s) taken by this goverment,no matter how hated Tinubu is,to reverse the depreciation and restore the value of the ₦ is supported 110%!

.

PressMyButton:

Repeat the same trash over and over again to make it sound true despite the fact that you have been enlightened over and over again. Bunch of slowpokes.

Got any contrary proof other than propaganda from Bayo Onanuga and co? Nope.
Economist, Bloomberg, BusinessDay and other economists have collaborated the fact that our reserve is being depleted to shore up Naira value.

African Dev Bank and co have confirmed that FG approached them for some loans to be used in stabilizing Naira.


You keep wallowing in self-imposed ignorance

The main reason is that, speculators has started accumulate for profit.

I notice since the day that foolish woman "Aisha Yesufu" or whatever they call her, advise people to start keeping their dollars, naira has been on steady decline.

What these people don't know is that, whatever they say can influence alot of people decision, how will you make such a statement, having know that there are set of people in millions who are always looking up to you for direction.

If Nigeria government is serious enough, such character should've been putting behind the bar since making that statement.

I hope say no b Nigerian get that ByBit app sha

Keeping my $60 transaction "pending" since last week Tuesday after deducting $12 for charges. I hope they ain't tryna reap me off though.

PressMyButton:

Repeat the same trash over and over again to make it sound true despite the fact that you have been enlightened over and over again. Bunch of slowpokes.

"Repeat a lie often enough and it becomes the truth” Goebbels law of propaganda.

yemmit90:
The main reason is that, speculators has started accumulate for profit.

I notice since the day that foolish woman "Aisha Yesufu" or whatever they call her, advise people to start keeping their dollars, naira has been on steady decline.

What these people don't know is that, whatever they say can influence alot of people decision, how will you make such a statement, having know that there are set of people in millions who are always looking up to you for direction.

If Nigeria government is serious enough, such character should've been putting behind the bar since making that statement.

Aisha Yesufunshould be in jail now! EFCC, do your job.

PressMyButton:

Repeat the same trash over and over again to make it sound true despite the fact that you have been enlightened over and over again. Bunch of slowpokes.

This one is more more than a slow poke. He kept repeating same thrash over and over again despite all the enlightenment about the foreign reserve. He is a mumu pro max

Flier:
They are responsible dont let them decieve you,this are greedy set of people who set whatever price they want without any regulation or monitoring and since the majority of the buyers are either trying to hide money or fraudulent,they have no choice than to buy it

All these crypto companies are they only in Nigeria?? Why are the currencies of other nations not deprecating because of them?? Think with your head!

Naira never appreciated.It was 200 to a dollar before buhari took over and left it at 700.Tinubu came and announced Naira floating which further depreciated to almost 2k.Stop the falacy

KingKO22:

Enemy of progress, we know your motive an intention is to see Nigeria to born down bcs Pandora Obituary lost election

So if anyone has a contrary opinion, he/she must be an Obedient or automatically becomes Obedient? Patriotism is it by mere wishful thinking? People can no longer express their opinions on national burning issues without being tagged Obedients?

yemmit90:
The main reason is that, speculators has started accumulate for profit.

I notice since the day that foolish woman "Aisha Yesufu" or whatever they call her, advise people to start keeping their dollars, naira has been on steady decline.

What these people don't know is that, whatever they say can influence alot of people decision, how will you make such a statement, having know that there are set of people in millions who are always looking up to you for direction.

If Nigeria government is serious enough, such character should've been putting behind the bar since making that statement.

Please shut up!
How many people even know her??
See the nonsense u are writing?
How does the statement of a single individual affect the value of a nation currency & u are not ashamed to say this?? Can any Ghania make such statement & the cedi will depreciate? You people are very shameless

Crypto currency people cannot cause severe devaluation of the Naira if Nigeria exports finished products in considerable quantities.

A country does not shore up value for its currency through depletion of the country's foreign reserves.

Little wonder Farook Kperogi called the CBN boss an airhead.

Not sure if it is related but from the very first day the news of “foreign reserves” broke out, naira started depreciating. I use Remitly and Afri exchanged on DAILY basis.

It’s no longer Binance. lol. When you guys are ready for leadership we will know

Hashabiah:
...and yet Nigeria's foreign reserves has depleted . Which goes to show that the Nigerian government is secretly keeping the naira afloat with dollars. Soon and soon the floodgates will pour open and the naira will depreciate further .

Crux of the matter.

Hashabiah:
...and yet Nigeria's foreign reserves has depleted . Which goes to show that the Nigerian government is secretly keeping the naira afloat with dollars. Soon and soon the floodgates will pour open and the naira will depreciate further .

What is wrong with your senses? I hope you wont claim to be an obidient o, because we are not this stupid

KingKO22:

Enemy of progress, we know your motive an intention is to see Nigeria to born down bcs Pandora Obituary lost election

You are very foolish, what thos Obi have to do with that idiots comment? illiterate

Those into crypto knows BTC has dropped from $70k+ to $64+ as today. The drop has been on for a few weeks now.

I buy and sell yuan to purchase from China and these trades are tied to USDT and BTC. This means if the crypto rates are low, yuan rate has to follow suit.

In the past few days I have noticed a sharp rise in yuan rates to Naira, with no reasonable justification, there isn’t any high demands and USD to Naira has been stable lately. I asked one of the Chinese trading guys what caused this and he told me it’s your people that increase the price. For what reason I asked he gave none. I also asked a fellow Nigerian that trades and he couldn’t give any reason why there was and there is a sharp rise in just under 3 days.

tollyboy5:

Stop repeating same rubbish Everytime. Yes we use the foreign reserve.
Yes it's depleting so what else?

Use your brain not your emotions

Saturnalia:
From what I just read in this write-up, the Crypto Exchange Platforms “BYBIT” and “BITGET” are the cause of the latest depreciation of the Naira.

The solution is very simple.

I expect the FG & the CBN to immediately launch massive offensive against them and begin clamping down on them like they did to Binance.

The FG must understand that there a lot of enemies & saboteurs within and outside the Country, fighting and working assiduously against the interest of Country; some are still bitter for losing a credible election while others are just outright sadists that are averse to prosperity & blessings.

It is known locally and internationally that CRYPTO EXCHANGE PLATFORMS are shady & disreputable schemes that are servicing the interests of Yahoo Boys, Kidnappers, Drug Peddlers, Armed Robbers & corrupt Government officials.

This is the reason CRYPTO EXCHANGE PLATFORMS are being haunted & shut down in almost every Country overseas.

The FG must not allow the comments and opinions of the “unscrupulous elements” in the social media (who are actually the perpetrators & enablers of these schemes) to deter it from taking the necessary actions and doing what is needed to be done to save-guard the integrity of the Naira.

Drastic times call for drastic measures. I repeat, do not be dissuaded by their “Reverse Psychology”. I can already see some of them on this thread saying the Government is chasing shadows.

In fact, if I were the President, I would do what General Sani Abacha and Olusegun Obasanjo would have done.

These cockroaches do not care whether the Country burn or collapse. They are the ones speculating & manipulating our currency with their CRYPTO SCHEMES and at the same time cursing the Government for not doing anything to curb the depreciation of the Naira.

They have even sworn that the NAIRA must trade for 5000 against the DOLLAR before December.

It doesn’t take a rocket science to identify those that are defending these “Economy Wrecking CRYPTO EXCHANGE PLATFORMS” as their enablers and perpetrators.

Google the list of Countries where CRYPTOCURRENCY is restricted or banned, and you will understand the monstrosity of what we’re dealing with.

I do not like Tinubu and did not vote for anybody BUT I AM A PATRIOT AND WANT NIGERIA TO WORK.

Haters are free to masturbate on my mentions. It doesn’t add or remove anything from me.

Ban crypto trading completely; way forward.

KingKO22:

Enemy of progress, we know your motive an intention is to see Nigeria to born down bcs Pandora Obituary lost election

Until APC government returns Naira/Dollar rate as it was in 2015 when APC took over government and Buhari promised to make Naira value equal to that of Dollar, APC REMAINS THE ENEMY OF PROGRESS IN NIGERIA.

It's easy for you to steal presidential election but not easy for you to govern well.

BAN THE CRYPTO-RUBBISH. GUN DOWN THEIR LEADERS. WE WANT PEACE IN NIGERIA.

yemmit90:
The main reason is that, speculators has started accumulate for profit.

I notice since the day that foolish woman "Aisha Yesufu" or whatever they call her, advise people to start keeping their dollars, naira has been on steady decline.

What these people don't know is that, whatever they say can influence alot of people decision, how will you make such a statement, having know that there are set of people in millions who are always looking up to you for direction.

If Nigeria government is serious enough, such character should've been putting behind the bar since making that statement.

It’s not about her advice, it’s about the right thing to do. The right thing is to save your money in USD and preserve it’s value. It’s common sense

The FG is just playing to the gallery the crypto has no negative effect on Naira, crypto has been trading since the time of GEJ and the Naira was stable. Let PBAT go after bank MD if he mean the war against speculators but he won't because the likes of Elumelu and Ote$ are his close allies and have massive investments in the banking system.
The CBN & commercial banks are too be blamed for the Naira fall. Above all, hope PBAT is not borrowing USD to subsidized the Naira, and if he is borrowing I can bet it that the Naira gains will be short lived next thing might be 2,500/USD