Kobojunkie:
You are still rambling cause I don't know why you are jumping all over the place!

As for the backlogs, the CBN announced on March 21st that it had all been cleared. And as at that point, the Reserves were still at $34.1 billion. So what has that to do with this conversation?
CBN Settles All FX Backlog, Reserves Hits $34.1BN

https://www.youtube.com/watch?v=cY9Wum6Ly1k?si=VVblIKx_AHyGXfzH

theredaddy:
■From the context of the News is it not clear enough that it was the debt settlement that mainly depleted the Reserves ... How is clearing our backlogs tantamount to the fighting merely involved pouring down Billions of Dollar reserves down the toilet .. make it make sense

Kobojunkie:
What the heck? Are you paying attention at all?

The news which you was from over a month — before the recent depletion took place. At that point when the backlogs were announced paid off, the reserves were $34.1 Billion. Compare that to where it is today at almost $31 Billion. As yourself what happened?

Over the period that was March 16th through April 19th, the CBN has equally claimed to have been fighting for the value of the Naira. And as you can see, that fight cost Nigerians at least $2.1 Billion over that period. If you compare that with the rate around that period, you get the picture of what most likely happened.

theredaddy:
■God is behind the truth sayer, go to NL front page the post best explain what i have been rambling about that you refuse to see https://www.nairaland.com/8071766/2.1bn-reserve-depletion-cbn-sold
The fact that parallel market sold below the official rate invalidate your speculation cardoso defended the naira, as a matter of fact total intervention to the market stands at $661m minus it from $2.16bn is that what really depleted the reserve Go n read it

Kobojunkie:
What the heck is this one rambling about now and worse dragging God down in the muck as well? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

Jlow2:
Naira gains was not actually by production or exports, but by cbn supporting the naira ,by flooding the forex market with dollars, so it remains unpredictable that’s why the gains in naira did not reflect in the markets and prices of foods and commodities, you only see it on paper, it’s oluwole economics

theredaddy:
∆ You are just full of grammar and as empty as an noisy drum,
Your ignorance blew right in your face, and the best you could come up with is emojis when you should cover your face in shame ...
eloquent olodo !

Kobojunkie:
Stop with the desperate attempts abeg since your ignorance is glaring as the sun. That attempt of yours to drag the mention of God into this all but sealed the fact that you are just another religious sheeple/ sycophant in this. I would rather spend time engaging anything but that.

theredaddy:
∆ You are very poor at saving face, read the post on FP

https://www.nairaland.com/8071766/2.1bn-reserve-depletion-cbn-sold

discredit the post naw , olodo

Kobojunkie:
Save yourself from ignorance abeg!

That post you keep brandishing explained exactly what I had been saying all of this while but your blindness can't even begin to let you see it, can it?

The Reserves began dropping from as far back as March 15th. CNN said on 21st it cleared backlog but turns out what it cleared was about 600 million during that period. However, by April 19th, the Reserves had dipped at least 2..1 Billion in addition to the 600 million that CBN actually paid.

This isn't rocket science and I honestly can't spend my day explaining this over and over to someone whoss mind is already too twisted to see what is right before it abeg!

theredaddy:




I can't help you see what you don't want to see, despite shalaying you still miss am

PROSPECT is the driver when it comes to my loyalty and optimism.

please read till you get it

Beverlyjean:


Where on earth do people pray that their countries currency depreciates , so that they can make money out of it...mention one country.... Nigerians are truly abnormal people ....

Donaldoni:


Wow. Nice picture.

emmanuelbrown26:

Olodo without forex sense, do u know how forex works. Young Boys of 17years are cashing out on forex u are arguing nonsense

blueAgent:


You make little or no Sense.

femmy2010:


All i had to do was look up your past 20 posts to determine that you are a lost one.
Continue, you go get firewood to cook am finish.

Dennisochampa:


Cry me a river!!

darediamond:

Neither do you MAKE ANY IOTA OF SENSE as you could not lay your own counterclaims.

Learn to think and talk like A PROPER HUMAN!

Hint: WHILE YOU ARE FORCED TO BUY DOLLARS BETWEEN 950 and 1350, it is actually available as low as #100 per dollar on some foreigners owned websites.

Sit down there!!

emmanuelbrown26:

See how it all started

Dennisochampa:


Doesn't change the fact that you're still crying

emmanuelbrown26:

Here's d shit

Honor10:


There are countless thread of your people stealing pot of soup from the fire here, because of hunger

emmanuelbrown26:

Firewood, see ur people are dying of starvation u are mentioning firewood. Ronu idiot

emmanuelbrown26:

That one dey but mak una stop ebi pawa

Timmi:


My friend, the current rate is caused by the dollar appreciation against all currencies - pound, euro, etc. and has nothing to do with Nigeria fiscal or monetary policy. It is too early to roll out the drum.

Honor10:



It is you and your parents that ebi n pa

StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?

blueAgent:


More crap as usual.

darediamond:

It is not for babies to eat out of the Elders food.