₦airaland Forum

Alliswell248:
U are wrong.
Learn to comment as a responsible person, and not a dullard

The government is not printing money like emefiele did.

See dullard calling another person dullard.

You are so irritating. No shame at all. You still have the face to come out and defend lies.

Did the useless government you support say they are no longer defending the naira anymore or not? Zombie!
You

DeLaRue:
Most people just don't understand how currency markets work. That's fine.

Do you know that the CBN has been buying excess dollars that's been coming into Nigeria in recent weeks because the dollars comin in has been more than the market can absorb?

Remember the problem has always been too little dollars coming into Nigeria, which meant the CBN had to release dollars into the market (what people refer to as defending the naira).

In the past few weeks, the reverse has been the case. The amount of dollars coming in has been too much than the market can absorb. The CBN is now stepping in to buy the excess dollars. So, instead of defending the dollar, the CBN has in a funny way been 'defending the dollar.'

The first 18 months or so of the administration saw a very volatile naira. It made sense for the government to spend dollars to stabilise the naira.

However, in the past couple of months, the naira has stabilised, so no.need for the government to routinely defend the naira for now.

The CBN has done an excellent job.

Liar. 😁 na you dem put in charge to buy the excess dollar coming into the country?

I doubt you are ok upstairs o.

SIRAO:
You lack knowledge of macro economics, every country do defend their currency. Now defending naira with 8billions dollars and defending with 40 billion dollars re the the same ,? Floating the naira have dramatically reduced the amount used in defending it abnitio

Na idiat you be. Big one. You guys said the naira is no longer being defended.

You need to bury that your indomie filled head in shame , rather than typing rubbish here with your leprous fingers.

galserv:
We were living a fake life based on unsustenable subsidies. We were heading for certain economic doom. Thank God for Tinubu.

Who borrows money to pay subsidies

Does anybody borrow money to eat How sustenable is it

so you are still peddling this nonsense narrative?

There is no hope for you and your linage.

Basicend:
Dont mind the guys blaming the govt.

They made a mistake, and they simply trying to correct it via such subject means.

It's still to the interest of Nigerians, and if they left the naira to float to N3,500 to $1, it is still same people that will come out here and shout and blast the govt.

Did they ever agree they made a mistake? Instead, they termed it a reform and rubbed it on the face of the citizens.

Both the government and its supporters, all of Una no well.

nairalanda1:
Tinubu is a politican, and politicans are going to take decisions to get them elected, not necessarily the best decisions needed for the country.

That's 8 billion wasted. For nothing, because Nigerians want to import more and more stuff.

The problem ulitmately is our dependence on oil money. Oil money is not enough. Spending it on yacht and so forth is basically putting more strain on our thin finances. Defending the naira, which is a big reason why we have debts...(infact Buhari used ways and means so many times to defend the naira and pay for subsidy, and tinubu is doing it low key)...is makign things worse.

But the truth is, Nigerian politicans want to be elected. They do not want to leave a better legacy for tomorrow...because it means hard work, more hardship, and making unpopular decisions.

Here on this site, you can look at the agbado and the obident/pdp and even the secessionists. Their rasion d'etre is basically looking for more dollars to spend. IN a way, they are all alike.

Anyway, may God help us to see sense. Mumu leaders and mumu people, opposition and loyalists.

always talking out of point.

Read what you posted again. Does it make sense to you?

Jokerman:
What I don't understand is Buhari spent $10Billion to keep Naira at $448/$450 by the end of 2022.

However, $8 Billion of Tinubu's subsidy cannot move the naira to at least $1000??

🤔🫤

Dollar is Americas way of controlling Nigeria. They print it and determine how much of it a country gets. It's their major export. We will never get out of this dollar problem except we abandon it. The problem is there is no other substitute

Ojuntana:
https://nairametrics.com/2025/02/22/fg-has-spent-8-billion-to-support-the-naira-rewane/

EDIAT!!!!!

Gboss247:
Buhari left your minimum wage at N30,000, how did it get to N70,000?

400 to 1600 is a 300% increase.
The new minimum wage is barely 100% increase which is only implemented by less than 5% organizations in the country.
New minimum wage that was forced on the government.
If you’re honest, you will know that everything done by this administration is about saving face. They want to make things better, but don’t know how. So they resort to covering their tracks.

If this man knows more about Nigerian economics and finance management.

Why has he not been drafted into the economy committee of any government so far.

Why does he always appear on channels TV to speak big big economy terminologies and grammar..

Lass lass everyone go dey ok....

tpain121:
See dullard calling another person dullard.

You are so irritating. No shame at all. You still have the face to come out and defend lies.

Did the useless government you support say they are no longer defending the naira anymore or not? Zombie!
You

They are "useless" because your brain can't comprehend what they are doing.

Better go and get something doing with your life , before frustration finish you....

I pity you.

Noise maker

tpain121:
always talking out of point.

Read what you posted again. Does it make sense to you?

LOL.

He who has ears to hear, make they hear.

Zackattack:
400 to 1600 is a 300% increase.
The new minimum wage is barely 100% increase which is only implemented by less than 5% organizations in the country.
New minimum wage that was forced on the government.
If you’re honest, you will know that everything done by this administration is about saving face. They want to make things better, but don’t know how. So they resort to covering their tracks.

Where is the 100% increase in minimum wage generated from?

Tooreda:
30000/400


70000/1600

Do the Maths and see how you have retrogressed since Buhari era.

Where you expecting to progress with minimum wage increment?

Useless economist.

tpain121:
so you are still peddling this nonsense narrative?

There is no hope for you me and your my linage.

Is that so Hardluck!

Only a dull*rd cannot see facts on ground. There is no free lunch in life. Ole!!

The rebased inflation does not reflect reality. Full stop.

One more thing: The propaganda is too much.

Haba!

DeLaRue:
No government in the world directly releases information about how much it is spending to defend its currency.

If a central bank gives a running commentary about how much it is spending, that will give ammunition for currency speculators to attack the currency even further.

That is why Central Banks around the world speak in codes, like '...if it is necessary to do so, we will step into the market'.

Whether it is Japan, Brazil, India, that's what a Central bank will say.

You don't go to war by disclosing your strategy. Instead, you keep your opponents guessing.

Even Mr Rewane is only guessing by looking at how much dollars Nigeria has borrowed and how much we have left.

It's just guess work. Only the CBN knows the correct figure. It may be significantly less than Mr Rewane has claimed.

Lol tell yourself the truth. Don’t sugarcoat it.

It can never be less! In fact I believe should be higher.

DeLaRue:
Most people just don't understand how currency markets work. That's fine.

Do you know that the CBN has been buying excess dollars that's been coming into Nigeria in recent weeks because the dollars comin in has been more than the market can absorb?

Remember the problem has always been too little dollars coming into Nigeria, which meant the CBN had to release dollars into the market (what people refer to as defending the naira).

In the past few weeks, the reverse has been the case. The amount of dollars coming in has been too much than the market can absorb. The CBN is now stepping in to buy the excess dollars. So, instead of defending the Naira, the CBN has in a funny way been 'defending the dollar.'

The first 18 months or so of the administration saw a very volatile naira. It made sense for the government to spend dollars to stabilise the naira.

However, in the past couple of months, the naira has stabilised, so no.need for the government to routinely defend the naira for now.

The CBN has done an excellent job.

Are you okay at all? Do you think we are kids here?

ibabz:
Ogbeni, you go explain tire with no evidence. The simple truth is that election is coming and you must prove that your policies are working. Where did you see the excess dollars coming in. This doesn’t have any logical meaning at all. You have excess dollars which should have reduced the dollar value without spending extra $8billion to support the naira. You people just think everyone is a fool.

That guy na basterd! Him think say we no go school Abi watin?

Gboss247:
Where you expecting to progress with minimum wage increment?

You are just stupid. Nothing else.

Tooreda:
You are just stupid. Nothing else.

You can even answer a simple question!

DeLaRue:
Nothing new.

Every country steps in to support their currency.

In late January 2025 (last month), Brazil was spending about $7 billion dollars PER DAY! to support its currency against the dollar.

Around the same period, India spent over $20 billion dollars within 3 days to support the Indian Rupee.

Japan spent over $60 billion to defend the Yen against the dollar last year, yet the Yen has lost so much value against the dollar in the past 2 years.

If Nigeria spends $8 billion in 2 years, that's still reasonable, compared to when we were spending about that amount every year under Mr Buhari.

Truth is, the dollar is just too powerful against most currencies. Many governments have to defend their currencies, otherwise...

If that should be the case why are they antagonizing Godwin Emefiele for the same crime that they are still commiting

DeLaRue:
Nothing new.

Every country steps in to support their currency.

In late January 2025 (last month), Brazil was spending about $7 billion dollars PER DAY! to support its currency against the dollar.

Around the same period, India spent over $20 billion dollars within 3 days to support the Indian Rupee.

Japan spent over $60 billion to defend the Yen against the dollar last year, yet the Yen has lost so much value against the dollar in the past 2 years.

If Nigeria spends $8 billion in 2 years, that's still reasonable, compared to when we were spending about that amount every year under Mr Buhari.

Truth is, the dollar is just too powerful against most currencies. Many governments have to defend their currencies, otherwise...

One spotted.