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Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK - Politics (2) - Nairaland

Nairaland ForumNairaland GeneralPoliticsFresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK (8962 Views)

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Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody:
[size=25pt]Important Public Service announcement:[/size]

Fellow Nigerians and Africans:

The white man is stealthily waging a war against us and most of us are blissfully unaware of this.

[size=18pt]The use of hoax deadly viruses to economically exploit and to depopulate Africa by using fear and panic to coerce Africans to take poisonous medications and vaccines .[/size]

HIV and Ebola do not exist.

Don't believe me? Please do not read any further and immediately google "Ebola hoax" and "HIV/AIDS hoax "

The treatment of HIV /AIDS is what up to now they have been using to depopulate millions of African and profiting the white man.

By selling us condoms he is even taxing us every time we have sex.

Ebola is the "new HIV"

The so-called Ebola outbreak is a psychological terrorism using hundreds of paid actors across dozens of countries including the corrupt W.H.O. who is founded by members of the same foundation/Think Tank advocating for global depopulation (Rockefeller Foundation)

The white man who has been trying to wipe us out for centuries found these two deadly diseases amongst our people both in 1976 and we are not sceptical?

As the oldest race in the world we have survived probably hundreds of thousands of years without any deadly disease, yet our genocidal enemy just happens to be in our midst when he discovers not one but 3 deadly viruses in our midst all in resource rich regions of Africa all in one year (1976) HIV/AIDS, Ebola, Marsburg virus. The odds of this being true are so low that it would be fair to conclude it is impossible.

Fellow Africans the white man has unfinished business with us. He wants our total destruction (by stealth) all because we are sitting on the natural resources he wants.

We do not have a government to protect us so do not rely or depend on it. Unfortunate the imperialist seem to have captured and held our government hostage by whatever means, such that they do whatever they are told to do.
Case in point the fake Ebola crisis that played out for some weeks in Nigeria. Which is likely to re-emerge to add to the terror that is being inflicted on us.

White imperialist nations has been conducting a stealth war against us for decades if not
centuries to wipe us without success. Lets not forget the lessons of how he destroyed the native Americans, The Amazonian Indians, The Aborigines, Natives of New Zealand all of whom he as virtually wiped out and dispossessed them of their land and resources.

Make no mistake a deadly stealth war is being waged against Africans and all their descendants.

We need to fight this war starting by first getting ourselves enlightened. We do not have a government that can protect us so it is going to be every man for himself.


[size=18pt]Looming Crisis in Nigeria that has been engineered by imperialist nations to occur in Nigeria[/size]

We in Nigeria have been set up experience wicked, punishing hardship, unrest and killings by agents of the imperialists white man in the coming weeks.

The CIA sponsored paid mindless thugs called Boko Haram as already started to set the country on fire.

It is rumoured that the imperialist white man is planning to set this country ablaze in the biggest smash and grab operation the white man has ever carried out in Africa.

By fomenting sectarian killings and unrest it is suspected that the imperialist America may send in troops on the pretext of securing peace, but what ultimately they may be planning is to break Nigeria into several weakling nations with puppet leaders and in the process grab and secure all the resources-rich areas for themselves to steal our natural resources.


Fellow Nigerians because of this imminent violence that is about to explode, I suggest that you start making plans for the protection and if necessary for the evacuation of your families to safer areas or villages.

Prices of everything is going to double. Oil prices is in free fall all has been calculated and designed by America ( who has power to control oil prices and Nigeria's inflation rate) to add hunger to fuel the fire .

[size=18pt]What You Can Do To Protect Yourself And Your Family[/size]

As mentioned earlier: Start making immediate security plans to protect and or evacuate your family to known safe areas in the event of outbreak of murderous violence.


remember to avoid all vaccines produced by the imperialist white nations
.
Not Ebola, HIV, measles stop taking any vaccines.

Do not take up any offers of free medical health checks from their NGOs, Reject their family planning. Find other ways to protect ourselves from contagious diseases.

Rather than use the condoms manufactured by the imperialist white man which contain toxic chemicals that can damage your health, save money on condoms and we should make our own or abstain from unsafe sexual practices such as casual penetrative sex including penetrative sex with sex workers and anal sex .

Stop eating foods and consuming any products imported from imperialist countries. Start growing your own food.

Stop smoking cigarettes, chewing gum, using deodorant or toothpaste and other toiletries from imperialist nations.

Ladies, you are their special targets. You are the people that are going to deliver our next generation so you would be targeted.

Be very sceptical of any free medical health checks from their "charity NGO".
They would like to make you unhealthy and ultimately infertile.
Consider getting make-up and other hair products and toiletries from other sources.

Lets all utilise locally produced products that we can trust or from trustworthy countries.

The best way for us to fight this war is to boycott every product produced by these imperialist countries that we are able to do without or find other sources.


Educate yourselves about how vaccines are being used to depopulate us.

Please share share share (NL would not be allowed to put this thread on the front page) So please share it at least once daily and like every positive post.

Start this thread on other social media: facebook' twitter' instagram etc. Also go into my profile and follow me.

God bless and stay healthy and safe.
It is time for youths to get in the streets and call this government to order.

There is a saying that if you refuse to discipline yourself sooner or later somebody would discipline you.


https://www.youtube.com/watch?v=tuCdOkf4NxQ&index=4&list=PLRzmuN0KKXK-WIR-BKAd0gBxB7YIUepyl
frankyychiji:
This was expected with the crash in oil prices. Time to tighten our belts and brace up for the challenge ahead. With Ngozi at the head of the economic team, i know the effects of these would be managed well. Let the ignorant opposition convene more meaningless meetings in kwara to shed more crocodile tears.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IYANGBALI: 1:02pm On Nov 19, 2014
berem:
Okonjo Iweala-worst finance minister nigeria has ever had. Obasanjo did well by kicking her a$$ out but our clueless president retained her.
belem,belem,belem,I no get gari wey I go dey carry come for you for prison if this people arrest and lock you up o and I know say seun no go look your side
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 1:06pm On Nov 19, 2014
IYANGBALI:
belem,belem,belem,I no get gari wey I go dey carry come for you for prison if this people arrest and lock you up o and I know say seun no go look your side
err, hope all is well oga?
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IYANGBALI: 1:08pm On Nov 19, 2014
berem:
err, hope all is well oga?
how do you mean?
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 1:25pm On Nov 19, 2014
FOLYKAZE:
Jonathan is destined to bankrupt Nigeria.

And he is fulfilling his destiny fast. . . . . .

We shall all survive this storm
How is it GEJ's fault when the Northerners and Westerners have refused to engage in any productive venture but has decided to depend on oil for their revenue.The fall in the price of oil isn't GEJ's fault,we only have to find a way to diversify our economy,all of us have a role to play not only GEJ.The fall in price of oil is bound to affect the naira.Next time,think with your brain and not through your nose.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by PriceOfGarri(m): 1:26pm On Nov 19, 2014
NgeneUkwenu:
Stem Corruption and the naira will regain it's value!
Ngene, you're really intelligent!

So corruption is what affects the Forex transactions?

Our currency is crashing because 90% of our source of revenue is crashing.

Ngene please answer these questions:

1. What's the value of our Forex reserve?
2. Do we make our Forex transactions with Naira?
3. What happens when there isn't enough revenue in our Forex reserve?

Women and sentiments sha.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 1:55pm On Nov 19, 2014
I'm not an Economist, but the little I know tells me with further devaluation of the Naira, Some of us may end up losing value on our Bank savings(since we saved in Naira)
My mind tells me I should withdraw a Large chunk and Buy Foreign Currency from BDCs to keep at home! Another tells me to chill and see what happens!

Pls Could Someone here give me an Honest advice on the best course of Action I should take before the End of next week?
Knowledge they say is Power!
Thank You!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 2:05pm On Nov 19, 2014
IdomaLikita:
I'm not an Economist, but the little I know tells me with further devaluation of the Naira, Some of us may end up losing value on our Bank savings(since we saved in Naira)
My mind tells me I should withdraw a Large chunk and Buy Foreign Currency from BDCs to keep at home! Another tells me to chill and see what happens!

Pls Could Someone here give me an Honest advice on the best course of Action I should take before the End of next week?
Knowledge they say is Power!
Thank You!
If you are going to withdraw your savings to buy forex, you will be putting more pressure on the Naira as you will be increasing preference of the Naira over the dollar.

The only way out is to look inward and stop depending on imports for everything.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by cjrane: 2:10pm On Nov 19, 2014
Good, let Nigeria DIE! After all, that is what the Janja-weed party wants. The USA is helping them see to that.
In the end, those that killed Nigeria are the biggest benefactors of Nigeria.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 2:10pm On Nov 19, 2014
Withdraw all your money immediately and buy anything that would hold its value - even a shed or small land or furniture. Anything that you buy now you could be reselling in a few weeks or months after the devaluation has bottomed out for a far greater value.

If you are a business use up any excess savings and buy stock or other necessities now.
IdomaLikita:
I'm not an Economist, but the little I know tells me with further devaluation of the Naira, Some of us may end up losing value on our Bank savings(since we saved in Naira)
My mind tells me I should withdraw a Large chunk and Buy Foreign Currency from BDCs to keep at home! Another tells me to chill and see what happens!

Pls Could Someone here give me an Honest advice on the best course of Action I should take before the End of next week?
Knowledge they say is Power!
Thank You!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by TippyTop(m): 2:22pm On Nov 19, 2014
NgeneUkwenu:
Stem Corruption and the naira will regain it's value!
Please you will do well by comenting on topics you know about. Your statement above is not only ill informed but downright stupid for want of suitable word to discribe it.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 2:23pm On Nov 19, 2014
GenBuhari:
Withdraw all your money immediately and buy anything that would hold its value - even a shed or small land or furniture. Anything that you buy now you could be reselling in a few weeks or months after the devaluation has bottomed out for a far greater value.

If you are a business use up any excess savings and buy stock or other necessities now.
You are creating a panic. If everyone does what you are advocating, Banks will crash. The only growth you will have will be in the real estate sector and that will sooner or later crash which is by far the worst form of economic collapse.

My only advice is to invest and save what you have. In the long run the economy will stabilize.

Mind you, the only guys that will feel the heat directly are govt contractors who depend on govt spendings. Other sectors will also but this are guys way down the trickling table
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 2:39pm On Nov 19, 2014
Who care if the banks crash?
GBTYO:
You are creating a panic. If everyone does what you are advocating, Banks will crash. The only growth you will have will be in the real estate sector and that will sooner or later crash which is by far the worst form of economic collapse.

My only advice is to invest and save what you have. In the long run the economy will stabilize.

Mind you, the only guys that will feel the heat directly are govt contractors who depend on govt spendings. Other sectors will also but this are guys way down the trickling table
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 2:50pm On Nov 19, 2014
PriceOfGarri:
Some people will just comment for commenting sake. Smh

One "lady" above even said "Okonjo is the worst minister ever"
I can bet my day that she doesn't have any reason for saying that.

@topic
When almost 98% of the govt's expenditure depends solely on oil revenue, if the oil price crashes, why won't the currency crash?

I wish we had saved enough for the rainy days, as been shouted by mrs Iweala in the past.
Whos fault is that? When oil prices were up Algeria had its budget as $35 dollars benchmark and was saving $73 on every barrel, what did Nigeria do with hers
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:03pm On Nov 19, 2014
This high dollar exchange rate will be of benefit to those receiving payments in dollars. It myt be difficult for those buying stuffs online and selling them locally as nigerians want cheap products.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:05pm On Nov 19, 2014
GenBuhari:
Withdraw all your money immediately and buy anything that would hold its value - even a shed or small land or furniture. Anything that you buy now you could be reselling in a few weeks or months after the devaluation has bottomed out for a far greater value.

If you are a business use up any excess savings and buy stock or other necessities now.
.

Thank You Sir! But We've not been too lucky with Lands! The few We've acquired in the FCT haven't really appreciated as much as expected! Furniture? (No space to store them)! I prefer something I can easily dispose of when things stabilize and I need the Cash, that's why I considered Forex(since I could just walk into a BDC and change)! I'm talking about a Million Naira Plus Sir! So more suggestions would be welcome!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:06pm On Nov 19, 2014
Buy gold or silver
IdomaLikita:
.

Thank You Sir! But We've not been too lucky with Lands! The few We've acquired in the FCT haven't really appreciated as much as expected! Furniture? (No space to store them)! I prefer something I can easily dispose of when things stabilize and I need the Cash, that's why I considered Forex(since I could just walk into a BDC and change)! I'm talking about a Million Naira Plus Sir! So more suggestions would be welcome!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:11pm On Nov 19, 2014
GBTYO:
If you are going to withdraw your savings to buy forex, you will be putting more pressure on the Naira as you will be increasing preference of the Naira over the dollar.

The only way out is to look inward and stop depending on imports for everything.
I agree with you Sir, but if my effort at looking inwards and not depending on Imports alone isn't replicated on a Larger scale by Nigerians, I would still go ahead and lose my Savings! I'm not an Importer or a Forex Earner! Just an Honest Nigerian earning a Modest Income who doesn't want to lose what he has worked so hard for!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:15pm On Nov 19, 2014
GenBuhari:
Buy gold or silver
In form of Jewellery Right?
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:16pm On Nov 19, 2014
GenBuhari:
Buy gold or silver
Thank You Sir! I'll set about it ASAP!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:17pm On Nov 19, 2014
jewellery is fine or if you want buy gold nuggets or coins where you could find them if possible.
IdomaLikita:
In form of Jewellery Right?
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 3:18pm On Nov 19, 2014
IdomaLikita:
Thank You Sir! I'll set about it ASAP!
and you will end up robbed of everything unless you have ahigh security vault in your house and you are not chicken sh1t to give them the combination to it
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody:
You are very welcome.
You are the type of fellow that should be trusted with the future of this country. Very few of our young people think about planning ahead for tomorrow.
IdomaLikita:
Thank You Sir! I'll set about it ASAP!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:24pm On Nov 19, 2014
GBTYO:
and you will end up robbed of everything unless you have ahigh security vault in your house and you are not chicken sh1t to give them the combination to it
I'll take my Chances Sir! Sitting Idle and watching my Hard-earned money lose its value isn't exactly Heroic!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:27pm On Nov 19, 2014
GenBuhari:
jewellery is fine or if you want buy gold nuggets or coins where you could find them if possible.
Honestly, even the Jewellery Market isn't something I understand! I wish I knew a Place where authentic Gold Coins are sold in Nigeria!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:28pm On Nov 19, 2014
GenBuhari:
jewellery is fine or if you want buy gold nuggets or coins where you could find them if possible.
Honestly, even the Jewellery Market isn't something I understand! I wish I knew a Place where authentic Gold Coins are sold in Nigeria!

Thanks all the same!
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Ttalk: 3:28pm On Nov 19, 2014
PriceOfGarri:
Some people will just comment for commenting sake. Smh

One "lady" above even said "Okonjo is the worst minister ever"
I can bet my day that she doesn't have any reason for saying that.

@topic
When almost 98% of the govt's expenditure depends solely on oil revenue, if the oil price crashes, why won't the currency crash?

I wish we had saved enough for the rainy days, as been shouted by mrs Iweala in the past.
Many people are just defending without no justification, you said govt expenditure depends on oil revenue, why was dollar remain stagnant at oil peak when the price of oil stood at $108 for most of 4 years of Jonathan government? Yet during this period external reserve has been severely depleted to defend our weak naira. The point is simple, government is not getting economic policy right, unfortunately there is little anybody can do to salvage the situation rather than result to prayer that the price of oil should shore up
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 4:14pm On Nov 19, 2014
Ttalk:
Many people are just defending without no justification, you said govt expenditure depends on oil revenue, why was dollar remain stagnant at oil peak when the price of oil stood at $108 for most of 4 years of Jonathan government? Yet during this period external reserve has been severely depleted to defend our weak naira. The point is simple, government is not getting economic policy right, unfortunately there is little anybody can do to salvage the situation rather than result to prayer that the price of oil should shore up
The oil revenue is simply not enough to support all our imports.

If the naira was revalued upwards you and I know that imports will increase at the detriment of any local production.

We need to get our acts together and start looking in wards.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by tit(f): 4:32pm On Nov 19, 2014
IdomaLikita:
I'll take my Chances Sir! Sitting Idle and watching my Hard-earned money lose its value isn't exactly Heroic!
you are damned if you do.
you are damned if you dont.

suppose you buy gold.
then the economy bottoms!
who will buy your gold?
who would care about gold?
the price of gold will be low in a depressed economy too.

if i say buy commodities and you do
then the economy bottoms.
the price of commodities will bottom too.
and perhaps, agricultural output will increase,
since people will be forced to go back to farming to survive.

what nigeria needs is to invest in power generation and distribution,
like her life depends on it.
how i wish someone like Elumelu had a track record of using private funds successfully.
Independent of government and insider trading.
if we had such a successful, honest, pragmatic peerson,
small investors like you could cluster around building feasible power plants and refineries.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 5:00pm On Nov 19, 2014
We need ensure Buhari becomes next president if we are to see any meaningful improvement in electricity power generation and distribution. GEJ has been unable to fix it.
tit:
you are damned if you do.
you are damned if you dont.

suppose you buy gold.
then the economy bottoms!
who will buy your gold?
who would care about gold?
the price of gold will be low in a depressed economy too.

if i say buy commodities and you do
then the economy bottoms.
the price of commodities will bottom too.
and perhaps, agricultural output will increase,
since people will be forced to go back to farming to survive.

what nigeria needs is to invest in power generation and distribution,
like her life depends on it.
how i wish someone like Elumelu had a track record of using private funds successfully.
Independent of government and insider trading.
if we had such a successful, honest, pragmatic peerson,
small investors like you could cluster around building feasible power plants and refineries.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by wirinet(m): 5:16pm On Nov 19, 2014
PriceOfGarri:
Some people will just comment for commenting sake. Smh

One "lady" above even said "Okonjo is the worst minister ever"
I can bet my day that she doesn't have any reason for saying that.

@topic
When almost 98% of the govt's expenditure depends solely on oil revenue, if the oil price crashes, why won't the currency crash?

I wish we had saved enough for the rainy days, as been shouted by mrs Iweala in the past.
I concur that Okonjo Iweala is the worse finance minister ever. And i have tons of reasons.

She is practically in charge of Nigerian economy as the co-ordinating minister of the economy. It is her job to structure the economy against shocks like this. That the Nigerian government is still dependent of oil revenue four years after being in charge of the economy is a testimony of her incompetence. To make matters worse she is talking about saving for rainy days. Can she predict how long the rains would last? What if the rainy days last for years or even decades. It is like a man saving for rainy days when he is making lots of money. How long do you think the saved cash will last when he stops making money? The most sensible thing to do is to invest excess money and hope to live of the the investments when the rainy days come.

This is what countrys like Kuwait, Qatar and UAE did. They do not sit on excess oil money saving for rainy days. These countries have so much investments locally and internationally that even if their oil wells dry out, they would still be wealthy.

And to think this is the thinking of a havard trained, world bank economist.
Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by emiye(m): 5:39pm On Nov 19, 2014
N65 to N97 per litre. Were are the refineries ? These fools while removing petroleum products subsidy in Jan.2012 should have invested in building refineries to meet local needs, Those refineries, they can later privatise or commercialise At least, we can stop importing refined petroleum products, petroleum products importation must be taking a large chunk of the total imports.

Daft leaders !
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