₦airaland Forum

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

it's to stabilize the economy and have a hold on the economy.

That's why CBN devalue currencies too, if it appreciate too fast, the CBN won't be able to control it and many speculators will come in and destroy the economy, we have had before when a company speculated the currency and one of their big staff was arrested for weeks in Nigeria and Nigeria demanded for compensation before they release him.
It's cheaper to devalue than to loose hold of ur economy

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

.
It is beyond your shallow understanding.
Shettima was a Branch Manager at Zenith Bank, Tinubu was Chief Accountant/Treasurer at ExxonMobile, their financial decisions are definitely beyond what Peter Obi a graduate of Philosophy turned Trader can comprehend and you his numerous supporters can never ever understand

KingOfAmebo:
All of you have clearly proven beyond reasonable doubt that you can be educated yet be blinded and irrational in thinking because of your favorite politician or political party.

What is the sense in saying you stopped the Naira from gaining strength, is that supposed to mean you are happy the Naira should continue to be weakened? To whose advantage? Did you not promised t strengthen the Naira? Where is the sense in all this nonsense? How the helll will a weakened Naira be good for the economy?

Don't you guys reason at all?

BTW, No Central Bank in the world can influence the strength or weakness of a currency, If they can WHY CAN'T DO USE THAT SAME MAGIC WAND TO TURN THE NAIRA TO A DOLLAR.

Sometimes I dey wonder if una go school at all.

there are some policies to strengthen a local currency, but devaluing a currency is not hard.

Moreover when CBN intervened, it means they want to have a hold on the economy, else they will loose track

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

It’s because you do not understand the way economics work… someone has raised a FORM M at N1350/$ and this FORM M is guaranteed by the import goods, after purchase dollar crashes… what do you think will happen to that business? So one of the major function of the CBN is to regulate forex for balance of trade. If you don’t understand look for an 100L student to explain to you.

michoim:
This man can lie! Where was market stability when naira nosedived in 2023/2024 from N800 to N1600?
Now that naira want to appreciate according to APC. The CBN has to stop it. Which country does that? What a ruse! APC has constitute themselves into a lie entity...

The most annoying part is their senseless followers who don't use their God given braiin...just imagine the senseless talk some people are still defending.

No Central Bank in the world has the power or special wand to influence the strength or weakness of any currency, if they can, all currencies will be equal to the dollar and render the dollar useless...the most annoying part is that most of APC followers are graduates ooo, imagine a graduate defending an anomaly.

KingOfAmebo:
All of you have clearly proven beyond reasonable doubt that you can be educated yet be blinded and irrational in thinking because of your favorite politician or political party.

What is the sense in saying you stopped the Naira from gaining strength, is that supposed to mean you are happy the Naira should continue to be weakened? To whose advantage? Did you not promised t strengthen the Naira? Where is the sense in all this nonsense? How the helll will a weakened Naira be good for the economy?

Don't you guys reason at all?

BTW, No Central Bank in the world can influence the strength or weakness of a currency, If they can WHY CAN'T DO USE THAT SAME MAGIC WAND TO TURN THE NAIRA TO A DOLLAR.

Sometimes I dey wonder if una go school at all.

Simple task for you to do. Google Central Banks role in currency management. Do not reply me please, just do the research and enjoy it. God bless.

HacheNoire:
Thanks for educating those village boys

You are very wicked i swear ;
Very funny. Village boiz. I wonder why dem no dey dress like villagers wey dem be.
God will deliver us from the village people Ase.

KingOfAmebo:
All of you have clearly proven beyond reasonable doubt that you can be educated yet be blinded and irrational in thinking because of your favorite politician or political party.

What is the sense in saying you stopped the Naira from gaining strength, is that supposed to mean you are happy the Naira should continue to be weakened? To whose advantage? Did you not promised t strengthen the Naira? Where is the sense in all this nonsense? How the helll will a weakened Naira be good for the economy?

Don't you guys reason at all?

BTW, No Central Bank in the world can influence the strength or weakness of a currency, If they can WHY CAN'T DO USE THAT SAME MAGIC WAND TO TURN THE NAIRA TO A DOLLAR.

Sometimes I dey wonder if una go school at all.

Simple basic economics, yet you are insulting those that are educating you for free. To make naira equal to one dollar is not a job of ten years. Nigeria still imports basic things not to talk of complex machines and appliances and thanks to your brothers who prefer importation to manufacturing. What they are simply telling you is that even if the naira will appreciate it shouldn't be too fast so that most of our brother who majors in importation will not run into debt and commit suicide because how will they cope with the margins?

At least you witnessed the one wey late Buhari released plenty money into the economy, we all felt it through inflation. Plenty money chasing fewer goods

When it was depreciating, they left it saying it should find its true value.. now that it's appreciating you all are not happy because your stash away would lose value

TimeManager:
Basic macroeconomics, CBN is duty bound to mop up excess liquidity in the system to avoid driving up inflation in the long term. Whenever there's too much local or foreign currency in the hands of people beyond regulatory requirements, the CBN steps in. Failure to do that in the past led us to where we were a few years ago.
If CBN had looked away, the dollar would fall for the first few weeks and then start rising because people would have horded it and look to sell at higher rate when scarcity hits the market thereby leading to market instability.
The best bet is to allow the right amount of money within the system at a particular time inorder to ensure stability and stronger local currency.

-Kiss the truth!

My friend you are talking trash. So, they are right obstructing naira to appreciate, so Nigerians will keep on suffering with high prices. They drove it up, by mismanagement of the economy several years back by daft past leaders who know nothing about running a viable economy. In my own understanding, i think the present govt should have made every possible effort to allow the naira to appreciate so to lessen the sufferings of innocent Nigerians who know nothing about how the economy has been mismanaged over many years backward

APCNig:
.
It is beyond your shallow understanding.
Shettima was a Branch Manager at Zenith Bank, Tinubu was Chief Accountant/Treasurer at ExxonMobile, their financial decisions are definitely beyond what Peter Obi a graduate of Philosophy turned Trader can comprehend and you his numerous supporters can never ever understand

Me, Peter Obi supporter?

If I say what is in my mind eh, the mods will hammer me 20 year ban, so lemme just ignore.

SixSeven:
Simple task for you to do. Google Central Banks role in currency management. Do not reply me please, just do the research and enjoy it. God bless.

What is this one saying? What has currency management got to do with the strength or weakness of currencies NO Central Bank in the world has control over? Are you ok?

Why can't they manage the currency when it was nose diving to it's present state? Why can't they manage it to where they previously met it or even stronger? Why can't they manage it to ensure the Naira equals the Dollar? You guys are just so annoying.

FIXED

SixSeven

KingOfAmebo:
All of you have clearly proven beyond reasonable doubt that you can be educated yet be blinded and irrational in thinking because of your favorite politician or political party.

What is the sense in saying you stopped the Naira from gaining strength, is that supposed to mean you are happy the Naira should continue to be weakened? To whose advantage? Did you not promised t strengthen the Naira? Where is the sense in all this nonsense? How the helll will a weakened Naira be good for the economy?

Don't you guys reason at all?

BTW, No Central Bank in the world can influence the strength or weakness of a currency, If they can WHY CAN'T DO USE THAT SAME MAGIC WAND TO TURN THE NAIRA TO A DOLLAR.

Sometimes I dey wonder if una go school at all.

Are you the comment you quoted is what you are actually responding to? I strongly doubt.

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

Im in shock too

Lekby25:
My friend you are talking trash. So, they are right obstructing naira to appreciate, so Nigerians will keep on suffering with high prices. They drove it up, by mismanagement of the economy several years back by daft past leaders who know nothing about running a viable economy. In my own understanding, i think the present govt should have made every possible effort to allow the naira to appreciate so to lessen the sufferings of innocent Nigerians who know nothing about how the economy has been mismanaged over many years backward

This thing you just said now, look for an igbo man who just imported some goods at the rate of N1300 to 1 dollar and while clearing his goods at the port, he heard that a dollar is now at N1, 000. Then walk up to him and tell him what you just typed here. If he doesn't skin you alive make I know wetin cause am.

TimeManager:
Basic macroeconomics, CBN is duty bound to mop up excess liquidity in the system to avoid driving up inflation in the long term. Whenever there's too much local or foreign currency in the hands of people beyond regulatory requirements, the CBN steps in. Failure to do that in the past led us to where we were a few years ago.
If CBN had looked away, the dollar would fall for the first few weeks and then start rising because people would have horded it and look to sell at higher rate when scarcity hits the market thereby leading to market instability.
The best bet is to allow the right amount of money within the system at a particular time inorder to ensure stability and stronger local currency.

-Kiss the truth!

On point. Kudos

TimeManager:
Basic macroeconomics, CBN is duty bound to mop up excess liquidity in the system to avoid driving up inflation in the long term. Whenever there's too much local or foreign currency in the hands of people beyond regulatory requirements, the CBN steps in. Failure to do that in the past led us to where we were a few years ago.
If CBN had looked away, the dollar would fall for the first few weeks and then start rising because people would have horded it and look to sell at higher rate when scarcity hits the market thereby leading to market instability.
The best bet is to allow the right amount of money within the system at a particular time inorder to ensure stability and stronger local currency.

-Kiss the truth!

So, why is Shettima boasting?!

APCNig:
.
It is beyond your shallow understanding.
Shettima was a Branch Manager at Zenith Bank, Tinubu was Chief Accountant/Treasurer at ExxonMobile, their financial decisions are definitely beyond what Peter Obi a graduate of Philosophy turned Trader can comprehend and you his numerous supporters can never ever understand

All of you have clearly proven beyond reasonable doubt that you can be educated yet be blinded and irrational in thinking because of your favorite politician or political party.

What is the sense in saying you stopped the Naira from gaining strength, is that supposed to mean you are happy the Naira should continue to be weakened? To whose advantage? Did you not promised t strengthen the Naira? Where is the sense in all this nonsense? How the helll will a weakened Naira be good for the economy?

Don't you guys reason at all?

BTW, No Central Bank in the world can influence the strength or weakness of a currency, If they can WHY CAN'T THEY USE THAT SAME MAGIC WAND TO TURN THE NAIRA TO A DOLLAR.

Sometimes I dey wonder if una go school at all.

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

Shey Una dey clap hand dey support nonsense before

Was it not said here that the rise and fall was being manipulated?

You are not exporting any goods oo but you tell me naira is appreciating and Una dey clap hand last week

This is your VP explicitly telling you it's being manipulated......oya go on and continue clapping

That is criminal and a felony offence against the Nigerian state. When the dollar was jumping what did the government do? Untill we love this country we are just jokers expecting greatness.

Misterone:
Oga, goods are already in the market and the ports, bought at a higher dollar rate. With the dollar falling daily, do you think importers would risk importing goods for now? No.
It's just like what's happening in the PMS industry where price fluctuate every month. People already have high priced stocks! What happens when price is unstable? People will not want to import. With time, this will lead to scarcity and inturn rise in price.

Many of una dey think say all these book economics dey work for market

Things are as high up as it was when dollar was almost getting to 2k sef

So whatever they like make them do as intervention, business owners no send una papa

No be ordinary cement wey dey 11k now don jack house rent go where we no know

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

Mumu, it's to encourage Foreign Direct Investment. It's a strategy to encourage investment inflow for the economy to grow. You don't allow your currency to over value, foreign investors wouldn't come.

Richtaiwo:
Are you the comment you quoted is what you are actually responding to? I strongly doubt.

Sorry Jare, I was going to quote someone else, these APC supporters are so annoying, supporting a party doesn't mean a supposed educated person should reason like a stark illiterate. Imagine someone campaigning to strengthen the Naira but because they have so bastardized the currency that it cannot return to how they met it they are now claiming they deliberately stopped the Naira from gaining strength yet some didirin still support the lies.

HacheNoire:
Thanks for educating those village boys

😂😂😂😂😂😂

helinues:
Dropping to N1000 when it has been around N1300- N1400 for a year plus will cause speculation which will lead to market instability

The dropping should be gradual. That margin of N300+ drop suddenly will cause lose for so many business people

You know we have so many children on nairaland.

helinues:
Dropping to N1000 when it has been around N1300- N1400 for a year plus will cause speculation which will lead to market instability

The dropping should be gradual. That margin of N300+ drop suddenly will cause lose for so many business people

U pple should keep deceiving yourself…. U suddenly car about businesses
when the naira was in a nose dive mode…. Yall defended the fast depreciation with all manner of justification….
Yall even compared it to the exchange rate of other african countries, claiming nigeria was doing well at that terrible exchange rate…
many of u even lied that the true value of the naira to the dollar is that 1700naira…. Now u have started again..
Please sir… my question is, una nor dey tire…. Shey dem swaer for una niiii??

magoo10:
So, for some of my friends, especially one of our party leaders who take delight in stockpiling dollars, it is a wake-up call,” the vice president said.
this statement is a security challenge just like the one made by elrufai tapping the NSA phone line.
The APC government is shielding economy saboteurs.

Is it an offense to keep Dollars? I have Dollars in my domiciliary account and I don't think it's an offense.

ZombieDredd:
Shey Una dey clap hand dey support nonsense before

Was it not said here that the rise and fall was being manipulated?

You are not exporting any goods oo but you tell me naira is appreciating and Una dey clap hand last week

This is your VP explicitly telling you it's being manipulated......oya go on and continue clapping

Of all the responses I’ve received on this thread from both Tinubu supporters and Obedients, this one proudly takes the trophy for peak intellectual vacancy.

No substance, no content… just a container of absolutely nothing.

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

/
They know that Nigerians are idiots who believe anything. You mean the people that believed that a snake swallowed millions of naira. Shettima hasn’t hit below the belt yet.

/

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?

Because you are not an economist. Nigeria will gain so much if Naira is undervalued for long. It's one of the economic strategies of China so Nigerians should appreciate FG for such great strategy

APCNig:
.
It is beyond your shallow understanding.
Shettima was a Branch Manager at Zenith Bank, Tinubu was Chief Accountant/Treasurer at ExxonMobile, their financial decisions are definitely beyond what Peter Obi a graduate of Philosophy turned Trader can comprehend and you his numerous supporters can never ever understand

Point of correction please, Shettima was a Regional Manager.

A weak Naira, well N1300 - 1500 naira maintains investor confidence and willingness to invest, it makes the naira attractive to buy, go check out what the Japanese and Chiness do to weaken their currencies against the dollar. It gives them competitive edge in the international market. Stronger Naira means less naira to an investor bringing in dollars to the Nigeria economy, a balance must be maintained.

Richtaiwo:
This makes absolutely no sense to me, unless there’s some secret dictionary defining what I just read.

CBN deliberately slowing appreciation of the naira? For what exactly?