₦airaland Forum

shortIGBOman:
Typical, na online una get power. In reality you go melt when you see me. You dey claim jaguda here. Where were you as the North is about to enforce Sharia law in Yoruba land (your region)?

As you dey claim jaguda, why you allow a Northerner rule over your people in Ilorin as their Emir?

If na reality, una for commot dagger? 🤣🤣🤣. Come here, come see how we dey deal with you low-key, no be by noise. You think say I be Yoruba, no wahala. Dullard.

adioolayi:
The same reserve that has grew to over $40B

https://www.google.com/amp/s/thenationonlineng.net/nigerias-foreign-reserves-hit-40bn-as-cbn-strengthens-forex-market/amp/

This is a lie and fake news

Look at the date

spiSeyi:
You are the illiterate here if not you wont just conclude that I am IPOB, you demented with hatered and tribalism what a shame.FYI I am a proud omoliabi from Ejigbo Osun state, tribalism won't take us anywhere. Ma gbe ara re gun esin ayan, ti oju ba fi ara bale dada ari imu..

Thunder fire you, Illiterate.

Lol...u never disappoint. In your brazen buffoonery you keep showing why you are regraded as the dumbest poster on Nairaland....and for me, I will never let the opportunity to school you and press your neck pass..... on economics, geopolitics and international finance, you are my monkey on Nairaland........take that to your grave

now listen

Foreign reserve has nothing whatsoever to do with exchange. It only helps credit rating for loans and give an idea of how many months or years worth of importation a country can sustain in international trade

Now, continue with your monkeyness...lol

Putindbutt:
Make I dey watch this Illiterate. As reserves don surpass $40b, make I dey laugh losers🤣🤣🤣

Inception:
This is a lie and fake news

Look at the date

You need glasses.

Putindbutt:
If na reality, una for commot dagger? 🤣🤣🤣. Come here, come see glhow we dey deal with you low-key, no be by noise. You think say I be Yoruba, no wahala. Dullard.

Yes you are Yoruba. Only few Yoruba are Tinubu's paid online agents like you.

Blazetrailer:
Lol...u never disappoint. In your brazen buffoonery you keep showing why you are regraded as the dumbest poster on Nairaland....and for me, I will never let the opportunity to school you and press your neck pass..... on economics, geopolitics and international finance, you are my monkey on Nairaland........take that to your grave

now listen

Foreign reserve has nothing whatsoever to do with exchange. It only helps credit rating for loans and give an idea of how many months or years worth of importation a country can sustain in international trade

Now, continue with your monkeyness...lol

You wan start again this morning abi? 😂😂🤣🤣🤣😂 . I will advise you to just waka jeje 🤣🤣

tollyboy5:
Reserve just exceed 40b and you're here dreaming

Where on the CBN website?

shortIGBOman:
Yes you are Yoruba. Only few Yoruba are Tinubu's paid online agents like you.

You go tire😂😂😂. When I dey defend Buhari, I no be paid agent dat time, you dey lick my yansh 🤣🤣🤣. You people don turn to snakes in less than two years 😂😂. I dey here for you, you go collect tire.😂

Putindbutt:
Illiterate, can you interprete what Bismarck Rewane says?.. how is Government defending the naira?. Two questions in one.

Areaboy as long as our foreign reserve is being depleted to make the naira stable or look good it's a defense, now who istvthe illiterate here ? 🤡🤡🤡🤡🤡.

Hallelujah!!!

Pigs won't like this good news

They are already grunting nonsense

@dettolgel How far?

At least they have used style to jettison their useless market value of the naira, they better continue to defend the naira cause 2027 elections will start from next year. They need something to show the gullible people that look, our policies are working

Lies...lies...lies

Russia was fighting against global sanctions and attack against its economy and currency. Not a good example.

Japan never supported Yen in 2024. In any case , Japan runs a managed floating(closer to a fixed rate system) since 1973 and not a fully floated system. Unlike Nigeria where we were told Naira was fully floated but they are currently spending billiond to defend it just as Emefile did when it was managed..

Bring more examples and let me lecture you on them..

No country runs a floated exhange rate system and still defends it currency by selling from its national reserves.

I am waiting

spiSeyi:
It's normal Russia supported its currency with almost 360B USD in 2023 even Japan did the same last Year .
The only issue here is what are the other sustainable plans to balance our trade deficit and diversify the economy in large scale

Spot on....

tnerro1:
At least they have used style to jettison their useless market value of the naira, they better continue to defend the naira cause 2027 elections will start from next year. They need something to show the gullible people that look, our policies are working

SalamRushdie:
Areaboy as long as our foreign reserve is being depleted to make the naira stable or look good it's a defense, now who istvthe illiterate here ? 🤡🤡🤡🤡🤡.

Do you know more than the CBN

The point is that the defence of the Naira is now SUSTAINABLE unlike before. And it is not responsible for the depletion of the reserves. CBN sells 25million dollars to BDCs weekly. In a month that is 100million dollars. That is not the cause of the reserve depletion!!!

Bro, that dude (puttin d butt )is the official dumbo of Nairaland....I encourage you to ignore lest he dirties your brain with his clowning

SalamRushdie:
Areaboy as long as our foreign reserve is being depleted to make the naira stable or look good it's a defense, now who istvthe illiterate here ? 🤡🤡🤡🤡🤡.

SalamRushdie:
Areaboy as long as our foreign reserve is being depleted to make the naira stable or look good it's a defense, now who istvthe illiterate here ? 🤡🤡🤡🤡🤡.

Simple question is always difficult for uns sha 🤣🤣🤣
Question 1, what is your interpretation of what Rewane said?

Question 2, how is CBN depleting the reserves?

Question 3, how is CBN defending the naira?

galserv:
Do you know more than the CBN

The point is that the defence of the Naira is now SUSTAINABLE unlike before. And it is not responsible for the depletion of the reserves. CBN sells 25million dollars to BDCs weekly. In a month that is 100million dollars. That is not the cause of the reserve depletion!!!

So my good friend please explain this ?

galserv:
Do you know more than the CBN

The point is that the defence of the Naira is now SUSTAINABLE unlike before. And it is not responsible for the depletion of the reserves. CBN sells 25million dollars to BDCs weekly. In a month that is 100million dollars. That is not the cause of the reserve depletion!!!

No dey follow mumu people argue, dem too mumu. Na simple questions I go use finish them.

SalamRushdie:
So my good friend please explain this ?

This was an editorial abi? Or was it a paid column?. Oya give us the link to the article, make we expose you.

This is looking good but how long can the CBN support the naira with weekly FX sales to the BDCs? That will determine how long this "rise" will last.

Meanwhile folks, hold on to your lily-white purse.

abc115:
God Bless President Bola Tinubu

God Bless Federal Republic of Nigeria

That door of money thiefing will soon close. Your eyes go soon peel.

Not correct. Its either you have heen listening to the wrong stories/propaganda or you chose to be economical with the truth for an agenda


According to recent reports, $8b has been spent by CBN from the foreign reserves to defend the Naira in 2 years, which is an equivalent of $333.33m per month and an average of $4b per annum.


Now, compare, in 2021, CBN depleted $3.47bn from the foreign reserve to defend the Naira and about $6.4bn in 2022. totalling $9.8bn.

So a cluekess government that devalued the naira under the guise of floating it, has spent almost the same amount to defend it, while telling obvious lies to the populace

At least during the Buhari era, Emefiele came out regularly to tell the whole world that they were defending the Naira and usually stated the amount spent on such venture. There is a reason this current government is hush about how much they spend on defending Naira....no one knew until Rewane blew it out recently. They are deceiving the mumus dem.

Wait until this government is kicked out, thay is when you will hear all the shenanigans that is going on. Tbis js the most clueless government or adminstration Nigeria has ever had

galserv:
Do you know more than the CBN

The point is that the defence of the Naira is now SUSTAINABLE unlike before. And it is not responsible for the depletion of the reserves. CBN sells 25million dollars to BDCs weekly. In a month that is 100million dollars. That is not the cause of the reserve depletion!!!

porthouse7:
go to airport hotel ikeja, I can change money regularly

I don't need to.move an each to do fx exchange. All am saying is, your rate isn't correct. The rate of the app I use is much lower than what an aboki or a registered BDC will trade. The rate actual and current like I said is above what you quoted. I order things regularly. See the rate as at yesterday below.

I pray make dollar fall to #500. Not all this #1500 case study

baconline:
He finally has started backing the naira with our reserve.this should never have stopped in the first place. Floating the naira is the biggest mistake of this administration

reserve is going high.
There is no backing of naira with reserves

NothingDoMe:
Lol. They were denying it sef. Not knowing that FX reserves be like pregnancy. E must show.

We should be at around $38bn or less now from 40bn. End of month we go know.

they just told u this week that reserve has grown to 40b.
Some of u have issues

fake progress

They play my fans!!!😅
naira wey dey about #350 before dey #1,500. is like u no. I say it's easier to steal in dollars than naira bahh ..

politician has hijacked the Whole thing,Bruhhhhhh

Oblongata:
Things are looking good! The country is repositioning for greatness!! Nigeria shall rise again and favour us all!!!

Lol....you know a Jabroni by how poorly he reacts to an intellectual challenge.

Di yiu know the meaning od "Jabroni" ? I am sure you will never post on Nairaland again if you google the mesning

instead of the dullard to challenge my position with facts and an intellectual counter argument, he is advising me to leave him alone this morning for him to wallow in his buffonery.....

How did APC gather these group of dimwits to defend them online? .....with all the money they have access to??

Surely they can afford some decent educated people who are currently looking for jobs....not these agbero and those who could not pass First school leaving certificate exams disguising as experts.......lol

Putindbutt:
You wan start again this morning abi? 😂😂🤣🤣🤣😂 . I will advise you to just waka jeje 🤣🤣

richmond500:
they just told u this week that reserve has grown to 40b.
Some of u have issues

Rest. Una dey on repeat since last year.

Lol....coming from a publicly known Jabroni.....wow!!

Lol....this is rich!!.

Putindbutt:
My customer welcome, I still get your cane in the corner 😂😂