₦airaland Forum

idahme:
They are still defending the naira currently ,what are you saying exactly?

Ok. If you believe that so strongly, show us the proof

Naira that that is almost 1700 today . What are you guys talking about . 1690 as at now

Look at prices of common things around, especially food. That's my own control group. Food has consistently and unwaveringly increased in price for the past 2 years at least, regardless of dollar value. Will landlord now reduce the rents that now see some apartments charge 1 million naira an above? Nigeria is a joke. I'm not fazed by any naira appreciation. The money they send from abroad to keep us alive will now have less value compared to what shylocks are charging for everything here.

Failed State

Continue misinforming gullible Nigerians. Dollar is selling at 1663NGR AbokiFX!

domDva:
Naira that that is almost 1700 today . What are you guys talking about . 1690 as at now

Tinubu is spending billions monthly on social media propaganda!

nairalanda1:
Naira is never going to be strong.

The government should stop giving people false hope. The truth is, Nigeria's naira is dependent on how much money we make from oil, so if oil prices stay where they are, we can forget about a strong currency

Also , so long as tinubu borrows instead of relying more on taxation and on cleaning up the mess in our mining sector, forget about strong currency

Nothing to rejoice about. Lipstick on a pig still means it is a pig, not Miss World

The same tax that people are frowning at again? They said Tinubu doesn't know more than taxing people and it's still the same thing you are advocating for ?

Obaaderemi2:
Could you get it lower than #700 before he floated it?
At the black market then it was #700. Now there's been a convergence between the rates.
Stop saying what you know little about

Una IQ is pathetic!!
How much was it after it was floated? You are posting babablu.

Biodun556:
https://www.vanguardngr.com/2024/12/why-naira-is-in-massive-recovery-race-across-all-markets-by-bankers/

Bloomberg already provided an analysis earlier this year, stating that the naira would probably be around that price by December. If the CBN wants the dollar to weaken against the naira, they know exactly what to do because they tried it a couple of months ago.

SeverusSnape:
Shame no dey catch you!?

A currency that he met at less than 700 is being predicted to come down to 1200 from about 1600, and you're saying God should bless Thie'fnubu.
Zombies are ridiculously shameless.

When he met it at 700 didn't he say it was going to go up! Subsidy removal and Floating the naira were his core campaign promises, which he delivered on and everyone with basic economic education knows this would be the result. So why are you making it seem like it just went up for no reason. You're the zombie who can't think or learn for himself unless being corralled like cattle by your handlers who dish out nonsense for you to repeat like illiterate songbirds.

SalamRushdie:
The same bankers that told y'all that if the Naira is floated it will settle at 550 Naira ? While [b]some of us [/b]told y'all it will cross 1500 and we were vindicated

Stop deceiving yourself, most of you are economic illiterates.
Floating the naira is majorly to discourage imports and encourage exports which may improve our GDP and strengthen our currency in the long run.

They will change the dollars to naira and start spending it in nigeria. Is this why it will fall? Am correct, abi?

elevated2:
Back in the days Dollar usually falls in December due to influx of diasporan Nigerians returning with huge suns of dollars. It usually continues untill after Budget passing(sometime around end of January). Let's see how it goes this time.

Is it by changing dollars to naira and start spending in nigeria, that will make it to fall? Am i correct?

Bankowner:
A lot of Nigerians in diaspora are coming home 🏡 for the festive season, one should expect a flooding of foreign exchange and the resultant appreciation of the local currency.
Hoping the same bankers won't be singing a different tune by first quarter 2025.

Biodun556:
https://www.vanguardngr.com/2024/12/why-naira-is-in-massive-recovery-race-across-all-markets-by-bankers/

By February we go know it's true value, for now buying more dollars is my own advice, naira no get the balls to withstand dollar if you wan dey honest with yourself

I don't understand the bolded. What do you mean by it?

Ijaya123:
When the currency was N700, it was artificially fixed with about $1.5 billion per monthly and that wasn't the true value. Basically, what we were doing was to subside imports at the detriment of local manufacturers.

That apparently isn’t sustainable. What you’re seeing now is the true value.

Understood?

iReddington:
When he met it at 700 didn't he say it was going to go up! Subsidy removal and Floating the naira were his core campaign promises, which he delivered on and everyone with basic economic education knows this would be the result. So why are you making it seem like it just went up for no reason. You're the zombie who can't think or learn for himself unless being corralled like cattle by your handlers who dish out nonsense for you to repeat like illiterate songbirds.

Get behind me thou Zombified humanoid.

jmoore:
How much was it after it was floated? That's what you couldn't say despite your lengthy reply.

740

Nigeria Diasporans are coming back with foreign currency and most businesses are going on holiday so the volume of cross border fx businesses reduced hence the appreciation of naira.

If you have loose naira buy dollar and by mid January you will be odogwu.

diverseconcepts:
1.00 US Dollar = 1,563.0556 Nigerian Naira

as seen on XE.com

Ignore xe.com.

That’s too far from what is happening in Nigeria. It’s a computer generated rate. Nigerians rarely buy from such platform. We only use it for guidance purpose.

See the rate as at this afternoon on GTBank platform, as attached.

VanuatuWycombe:
Ignore xe.com.

That’s too far from what is happening in Nigeria. It’s a computer generated rate. Nigerians rarely buy from such platform. We only use it for guidance purpose.

See the rate as at this afternoon on GTBank platform, as attached.

This is a welcome Development

toprealman:
Continue misinforming gullible Nigerians. Dollar is selling at 1663NGR AbokiFX!

AbokiFX doesn’t update, automatically.

He kept the rate he starts the day with, till close of business.

So using that platform or rate is unreliable.

Check rates at which banks buy and sell, including those of private dealers who are not banks. That’s where you will get updated rates.

Our government/CBN needs to publicize that Bloomberg platform so that everybody can be aware and be checking it. With that awareness, we will be more informed about the rates and we will be able to make informed business decisions rather than speculating.

Gboom:
Stop deceiving yourself, most of you are economic illiterates.
Floating the naira is majorly to discourage imports and encourage exports which may improve our GDP and strengthen our currency in the long run.

You are actually the economic illiterate here .
It wasn't done to discourage imports it was done because govt could no longer afford to defend the Naira., Nigerias problem has never been imports but rather exports and that we don't export as much as we should is the fault of poor govt will and policies .

That Nigerian currency is unstable is actually the fault of poor govt policies and that demand for dollars is Nigeria is high has nothing to do with imports but rather Arbitrage and I will school your 67 IQ brain if your are ready and I will teach you how I could correctly know what the naira value will be .

Please look at this list and show me where you see Nigeria , then use that dull mind of yours to also study the list and see the largest importers also happen to be the strongest economies on earth.

Imagine a dullard like you with 67 IQ trying to teach a trained economist like me with an IQ above 140 😅😅

VanuatuWycombe:
AbokiFX doesn’t update, automatically.

He kept the rate he starts the day with, till close of business.

So using that platform or rate is unreliable.

Check rates at which banks buy and sell, including those of private dealers who are not banks. That’s where you will get updated rates.

Our government/CBN needs to publicize that Bloomberg platform so that everybody can be aware and be checking it. With that awareness, we will be more informed about the rates and we will be able to make informed business decisions rather than speculating.

Western union does not as well right? Before your Tinubu took over, with 2k you buy a big live chicken…go a price check the current price. Also compare price of other commodities pre and post useless Tinubu era!
You know it that your paymaster is clue less. He should take the naira back to where he met it AND resign!
Even “Abiola milk” that was sold for 10 bucks is now 450! Tinubu and his Oshodi economics should pack and go.

Any strategy that does not include the country going into aggressive food production to a point of exporting the products will be a palliative strategy.
We need to produce what we eat.
We need to stop over dependency on imported goods.
Politicians should stop wasteful projects unnecessary overseas trips.
We should patronage local goods.

toprealman:
Western union does not as well right? Before your Tinubu took over, with 2k you buy a big live chicken…go a price check the current price. Also compare price of other commodities pre and post useless Tinubu era!
You know it that your paymaster is clue less. He should take the naira back to where he met it AND resign!

Oga. This is another online platform that is aggregating rate averages to compute its sell or buy rate, after adding its spread (profit).

Have you ever seen anyone bought Dollar from Nigeria on such platform?

Show me where WesternUnion is selling Dollar to Nigerians. Westy is just a payment platform. When your money gets to Nigeria, it would still be subjected to either Aboki rate or our official rate. Are you sure you are educated at all?

Use your sense. I am not a politician. I have never voted since 1993.
I am just an average finance person and I am trying to let you see how finance and economy work.

I don’t want you to lose in two places. That’s why I am trying to show you how to think constructively even though you are already crying over how you can’t buy Christmas chicken for your mother and father-in-laws.

VanuatuWycombe:
Oga. This is another online platform that is aggregating rate averages to compute its sell or buy rate, after adding its spread (profit).

Have you ever seen anyone bought Dollar from Nigeria on such platform?

Show me where WesternUnion is selling Dollar to Nigerians. Westy is just a payment platform. When your money gets to Nigeria, it would still be subjected to either Aboki rate or our official rate. Are you sure you are educated at all?

Use your sense. I am not a politician. I have never voted since 1993.
I am just an average finance person and I am trying to let you see how finance and economy work.

I don’t want you to lose in two places. That’s why I am trying to show you how to think constructively even though you are already crying over how you can’t buy Christmas chicken for your mother and father-in-laws.

The last part is an easy resolve. Send your account let’s add value to your life!
Unlike your Tinubu and his ass lickers, we care about the common man on the street that cannot afford basic stuff. Even if it sells for X 100…Jehova na still Jireh. Not about me , it is about the collective interest. You still won’t get it because of the 150K Tinubu’s PR crew gave you… it looks s out there, we know. Poor daft mofos are quick to categorize everyone, no be today!

Obaaderemi2:
#700 when they were borrowing money to defend it. There's a difference now

Now they are borrowing money to steal.

That’s the difference.

Una be Werey for that Una agbado WhatsApp group where they give you rubbish excuses to defend your foolishness.

E no go better for Una o .

toprealman:
The last part is an easy resolve. Send your account let’s add value to your life!
Unlike your Tinubu and his ass lickers, we care about the common man on the street that cannot afford basic stuff. Even if it sells for X 100…Jehova na still Jireh. Not about me , it is about the collective interest. You still won’t get it because of the 150K Tinubu’s PR crew gave you… it looks s out there, we know. Poor daft mofos are quick to categorize everyone, no be today!

So this is all your counter defense about my last comment. I say you are da..ft

Wetin be my own with Tinubu?

Agree to send N20million before I send it then display the receipt here. If you send it and display the receipt here, I will know you are a billionaire as you people claim.

Let’s look for an escrow account here then I will agree that the lost of that election by your preferred candidate is not what is making you have high BP.

If you can’t send that N20 million Naira… otunne gi.

flokii:
Naira will perform well in January, 2025.. with Trump's incoming policies especially on immigrants and citizenship by birth, economies around the world will rebound, no more running away to America.
A lot of Nigerians will return home to settle and invest. Things will change for the better.

Keep on dreaming. As if it is by what you wish.

Werey .

SeverusSnape:
Shame no dey catch you!?

A currency that he met at less than 700 is being predicted to come down to 1200 from about 1600, and you're saying God should bless Thie'fnubu.
Zombies are ridiculously shameless.

Why una no dey get sense like this?

The currency over the years was being incredibly subsidized by the CBN reflecting fake figures which you guys ignorantly praise as some form of achievement. All this have been stopped by this courageous government allowing market forces to determine FX prices

givedemwotowoto:
USD may hit 1200 based on what?

That officials stopped stealing funds and converting them to USD?

That Nigeria reduced insecurity in the middle belt and increased agric exports by $50 billion?

That oil exports increased to 3 million barrels per day?

That Tilumubunomics attracted $100 billion in FDI?

That Nigeria is no longer using a significant portion of its budget to service loans?

These people should stop all these propaganda.

I wonder

seunowa:
Elevated Illiterate, there's nothing much to explain to you because your brain has been eroded by negativities. Hence you can never comprehend it. After God, Na Tinubu 💪💪😂😂 Nigeria shall be great 👍👍

You 4 say after Tinubu na God.

Savage

Magnumproperty:
The same tax that people are frowning at again? They said Tinubu doesn't know more than taxing people and it's still the same thing you are advocating for ?

Tinubu is not taxing people at the rate we should be taxed.

If he was, he won't be borrowing.

But you guys think that something that costs N200000 can be bought for N2.....

Better wake up and see how your leaders have really wrecked Nigeria.

But no, na agbado you wan shout...till your side gets back in. Like the APC Bots on this site.

Both of you are not interested in why Nigeria is broke.