₦airaland Forum

Nigeria’s naira has reversed recent gains and is now the world’s worst performing currency in the last month, increasing pressure on the central bank to keep raising interest rates.

The naira has slipped to 1,466.31 to the dollar, its weakest level since March 20, hurt by the local scarcity of the US currency which on Thursday halved from the day before to just $84 million.

https://www.bloomberg.com/news/articles/2024-05-10/usd-ngn-naira-reverses-gains-as-outlook-dims-on-declining-dollar-inflows?utm_campaign=socialflow-organic&utm_source=twitter&utm_content=africa&utm_medium=social&cmpid%3D=socialflow-twitter-africa

Now that CardiB has exhausted all his ideas in giving Naira "Kung Fu" I wonder what will be the next line of action 😂.

Crypto Banned

Binance Banned too

P2P banned too

BDCs supplied with Dollars.

EFCC arresting BDc operators

Dear CardiB and Bulaba,

Who are we blaming this time?

My aged grandma?

Balablu magic.

When they were told to hold their dollars closely, imagine what these Tinubu propagandists were saying. I hope they are still here to see the magic their oga is performing on the exchange rate.

Who will they blame this time around? Of course they will surely blame Peter Obi who they are seriously teaching a lesson.

Propaganda is not governance. Fx rate is blind to propaganda.

The Nigerian Naira's recent performance as the world's worst-performing currency is a complex issue with various economic and political factors contributing to its decline. Some possible reasons include:

1. Economic challenges: Nigeria's economy has faced difficulties, including inflation, currency fluctuations, and a significant decline in oil prices (Nigeria's main export).
2. Political instability: Political uncertainty and instability can lead to a loss of investor confidence, affecting the currency's value.
3. Monetary policy: Central Bank decisions, such as interest rate changes or currency interventions, can impact the Naira's performance.
4. Trade and investment: Nigeria's trade balance, foreign investment, and remittances can influence the currency's strength.
5. Global market trends: Global economic conditions, such as currency fluctuations and investor sentiment, can also impact the Naira's performance.

It's important to note that currency fluctuations can have significant effects on a country's economy and citizens.

Hmmmm

You and I did not vote for this disaster called Tinubu. A monumental disgrace to Nigerians

Too bad, government should stop using cosmetic approach to stabilize naira and address the real problem

Before nko?
That award is for naira naa
I have said it before that they have run out of ideas, I use to believe that Asiwaju will assemble the best brains unlike Bubuu, but I can tell you that Bubuu will even be considered a technocrat compared to the performance of Asiwaju
It will only get worst so let us tighten our belt's. But my happiness is that we all are experiencing the terror going on in this country regardless of who you voted for

Using artificial intelligence, I can tell you that the future of this country called Nigeria is not bright at all

We have a long journey ahead of us

May God be our helper

Before unko. Terrible country

The Lawless Society has assumed its rightful position.
It's officially genetic now.
You can't be lawless and senseless yet expect the benefits enjoyed by citizens of lawful societies.

Wahala

Tinubu APC gangs in government are the one manipulating the fx.

They use propaganda to make dollar appear cheaper. Once they buy billions of dollars at cheaper price, they manipulate the price to go high so they can sell to make massive gains. And the cycle will keep repeating.

[color=#1986BC] I have always advocated for the Nigerian Government to forward applications to Paris to utilize the CFAs in West Africa as these wild and volatile oscillations of the Naira is wreaking havoc in the economy and our collective psyche...[/color]

Make e continue to go UP.

When it went lower, traders refuse to adjust price, claiming old goods.

SO, NO POINT praying for a strong Naira.

Was bound to happen after the abracadabra

Ok

Asiwaju, we can see your great works. Ride on

Wow... good news

Make una no kill Baba Akanbi with Nigeria problemsssssss

Bought dollars when it was 1,000. Now I’m waiting for it to get to 2,500 or 3k before i sell. Propaganda doesn’t run the economy

Wahala

What will common man do? If not to mk money

But why Nigeria come be like this? And nobody is talking

Check my signature if you want to learn and c out

Country of fake experts, worthless pdh holders and useless elders and leaders

When illiterate criminals run a country, this is what happens. Even Onanuga say 0.5% is equal to 0.005%.

Form is temporary, class is permanent.

Voodoo economics

E be like say na ogun go kill IMF and her sister agencies, they want to keep us impoverished so they can keep selling their lies globally...

Ogun how you and sango go just siddon dey look as these snakes wan bite IRON, dey want turn iron and fire to dust 😠

Oh Lord, have mercy on Nigeria and bless us with competent and God fearing leaders that will take us to our promise land ijn