₦airaland Forum

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

Edit: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value.

diamond68:
be dat as it may , why the nigga using all the saved money to buy yachts and private jets and Maybachs and living lavish like a rock star ? Who he think he is Rick Ross ? 👀🤷🏽‍♂️

MrEverest:
Stop being gullible and stop promoting foolish propaganda. What exactly are you exporting more??!

Tinubu the old fool made naira worthless against other currencies. Exports earn dollars, now quote the so-called export earnings in dollars and see how much it has reduced compared to even Buhari era.

Nairaland has become a community of gullible people.

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

Edit: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value.

Softmirror:
You mean they still dey carry dollar waka from Yankee come Nigeria?! 🥴

franchasofficia:
Nonsense and Cardoso lol


It's a normal thing in Nigeria's FX market.

During December like this, a lot of Nigerians, especially Igbos, Bini and some Yorubas do come back to Nigeria to celebrate Christmas and they come in with lots of dollars, Euros and other foreign currencies but mostly dollars, this leads to excess dollar currency in the Nigerian FX market with low demand as importers are closing for the year and have done most of their import payments and now selling for the season.



Dollar will shoot up again madly during January first and second week mostly when the demand for dollar will rise again due to Nigerians abroad paying school fees, returning back to their bases abroad and paying for imports to beat long Chinese New Year holiday that come towards end of January to February.


Respect the Igbos, they are the people behind the crash unseen by their evil haters like you Tinubu sycophant praisesingers

Ewaabokian:
This is the kind of education that made that aunty HELEN helinues celebrate the arrest of Dele farotimi

Your economy is volatile, we had a slack space where all these things were analyzed. What good was binance ban? Una Dey zuzu no be small

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

Edit: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value.

press9jatv:
Now it should go back to 500 naira per dollar

Kukutenla:
This is good news

Bit it seems CBN is flooding the market with dollars or where's the excess dollars coming in from? It was previously claimed that we need to become productive for our currency to appreciate

The value of the naira has been heavily decimated since APC came into power we hope the are able to work out a genuine respite for our currency

PressMyButton:
Respect to Jagaban, he knows how to assemble the best brains, as Governor and now as President. Anywhere that's difficult to enter, just leave it for Tinubu, that's where he likes to dismantle into pieces.

After God, na Tinubu 💪 God bless Nigeria.

helinues:
I repeat , nothing is working for you again in life hence turning trolling into a full time profession

franchasofficia:
Armed Bola Tinubu the Yoruba god is bigger than Rick Ross or any celebrity in Sadwaste region. They are planning to start a religion to start worshipping Thief Armed Bola Tinubu the druggie cum illegitimate Pessident as their new religious god

PressMyButton:
Even when Dangote refinery came on board, naira did not appreciate. Give credit where it is due, the new digital platform Cardoso created has turned things around. Stop downplaying every positive news, it's a sign of sickness.

Believeintruth:
You guys do not understand what CBN is doing. The CBN is deliberately trying to control the supply side, which is against their earlier plan of floating the naira, let me tell you how CBN does this.
They force banks to sell their dollars under 24hrs, they no longer allow them to maintain a long position in trading.
This forces banks to sell at a loss, then they just concluded the euro bond auction which mean Nigeria has dollars now borrowed at a coupon rate(Normally this is an expensive way of raising money as a country because the bond is a debt). These dollars are pumped into the economy to create an oversupply while forcing the banks not to hold a long position.

helinues:
It's so obvious nothing again is working for you in life hence turning trolling into full time profession

Sheuns:
If you have money, buy as much as possible. It’ll return to status quo by January.

Paraman:
https://punchng.com/nigerias-trade-surplus-hits-n5tn/?utm_source=telegram&utm_medium=social

Go through the article and stop writing foolish propaganda

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

Edit: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value.

DeLaRue:
It is easy to be a CBN Governor when times are good ala Messrs Soludo and Sanusi.

No Nigerian CBN Governor in the last 50 years has faced the difficult economic circumstances that Mr Cardoso has faced since he was appointed.

He may not have the bravado of some previous CBN Governors, but he has quietly proven himself as being super competent.

If you doubt me, ask Turkey.

As Turkey's currency has faced very turbulent times in recent years, the country has tried more than 4 central bank Governors in less than 3 years, yet their currency is still in rhe doldrums.

MrEverest:
Now let me enlighten you:

1. Imports crashed because Nigerians no longer have disposable income to spend. They only spend money on food, rent and school fees.

2. Exports didn’t increase, rather naira became worthless and the dollars earned from exports became huge in naira which the bastards are now using in their nonsense propaganda.

3. Oil and gas remains by far the biggest source of forex, yet our export volumes hasn’t increased.

Add points 1, 2 and 3 to get your answer. Stop being gullible and stop promoting rubbish propaganda!!!

PressMyButton:
Respect to Jagaban, he knows how to assemble the best brains, as Governor and now as President. Anywhere that's difficult to enter, just leave it for Tinubu, that's where he likes to dismantle into pieces.

After God, na Tinubu 💪 God bless Nigeria.

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

Edit: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value.