₦airaland Forum

It is a surprising event at the parallel market today when dollar rose to N205 per dollar(updated) due to shortage in supply vis-a-vis huge demand for it in the country. The CBN boss has failed the nation and should resign voluntarily. All policies formulated by the CBN governor has failed. There are clear indication that the dollar may further go up, throwing the economy into total disarray.

Nigeria economy is an import dependent economy. Car dealers, boutique owners, oil and gas companies, pharmaceutical companies, Agricultural firms, banks, Nigeria military(purchase of weapon), and even corrupt politicians e.t.c need dollars for their day to day operations, hence the increase in demand for dollars.

The policy of the central bank governor has centered on reducing the volume of dollars in circulation, forgetting that we are 90% import dependent country.Just yesterday, JP Morgan had placed Nigeria on a negative index watch on its Government Bond Index (GBI-EM), threatening to completely remove the country from the GBI-EM if there is no sufficient dollar liquidity in the interbank market to facilitate entry and exit of investors from the nation’s financial market.

JP Morgan said: “If we are unable to verify sufficient liquidity in Nigeria’s spot forex and local treasury bond market it will trigger a review for removal.

The CBN policy to reduce dollars availability in the economy has led to an increase in the rate at which dollars is exchanged for naira. This cbn Governor lacks the skill to manage the country's apex bank, He should please resign from this position and return to Zenith Bank, where he's profile is good at mobilizing deposit for the bank.

Bad luck JonaTAN

And I tot saTANoids said we now import just 70% of what we use??


We need #CHANGE

na Heavy wahala Nigeria dey Soo

"Jonathan met Naira, and naira moved from Goodluck to Badluck" - Father Mbaka

Too many mumus in this country. So Russia and other countries should sack their apex governor because of world oil prices drop.

In fact you call for the head of our past HOS such as buhari obj etc that didn't diversify our economy.

JONATHAN is trying to do that now and yet you paid apc goons can't see that.

Smh

That guys knws nothing..

I'm sorry but "that's all folks" for an intellectual Igbo man...

Anytime an Igbo says he has PhD, especially from their town, know that its equivalent to HND.

U can also see how someone who called herself a finance minister is financing everything to brokenness.

Naija don entre debt, country don broke...

CBN under sanusi was a bliss...he wld av handled this current situation with great acuity and precision.

aljharem:
Too many mumus in this country. So Russia and other countries should sack their apex governor because of world oil prices drop.

In fact you call for the head of our past HOS such as buhari obj etc that didn't diversify our economy.

JONATHAN is trying to do that now and yet you paid apc goons can't see that.

Smh

i dont think you understand the topic. all u have on your head is pdp and jonathan. proper MUMU

aljharem:
Too many mumus in this country. So Russia and other countries should sack their apex governor because of world oil prices drop.

In fact you call for the head of our past HOS such as buhari obj etc that didn't diversify our economy.

JONATHAN is trying to do that now and yet you paid apc goons can't see that.

Smh

My Bro,

I don tire for these Mumuharistas oh. I wonder why Apeeshit is so attractive to retards. Every major oil exporting country including Canada and Norway (not even talking about Russia here) had currencies losing strength against the U.S. Dollar.

I can see why they're so sympathetic to Buhari's inability to pass WASC.

That Nigeria is an import dependent country today is caused by the inability of successive governments to diversify the economy,what we should be asking the presidential aspirants is the strategy they will introduce to strenghten the naira,that should be the priority

The economy is under control. You have no reason to fear- Okonjo Iweala

These people have been deceiving Jonathan since 1983 when Buhari made our naira something to be proud of.

Curlieweed:
My Bro,

I don tire for these Mumuharistas oh. I wonder why Apeeshit is so attractive to retards. Every major oil exporting country including Canada and Norway (not even talking about Russia here) had currencies losing strength against the U.S. Dollar.

I can see why they're so sympathetic to Buhari's inability to pass WASC.

i didnt post this topic because of pdp or apc thing, u have just politicise this, so u are happy that dollar is now N200. u have forgotten that, assuming Nigeria has robust foreign reserve, she will be in a better position to defend the country's currency against the dollar.

Go back to elementary economics, Ode na him u be

Here in Russia , the same thing,even worse . Local currency is loosing value on a daily bases

Akon419:
Here in Russia , the same thing,even worse . Local currency is loosing value on a daily bases

Who carry you go Russia? Oga park well.

Purej:
i dont think you understand the topic. all u have on your head is pdp and jonathan. proper MUMU

The mumu here is you. Did you bother to find out why currencies of oil exporting countries are falling with respect to the US dollar? In your rush to make a political capital out of a serious situation, you have exposed your congenital Idiocy. Ode.

Akon419:
Here in Russia , the same thing,even worse . Local currency is loosing value on a daily bases

Oga, Russia's problem is due to sanctions . Nigeria's foreign reserve is very weak now. thats y she cant defend her currency against dollar. stop being sentimental.

We have the opportunity to save when dollars was rossy, but our government didnt, they tought it will continue like dat

SLIDEwaxie:
That guys knws nothing..

I'm sorry but "that's all folks" for an intellectual Igbo man...

Anytime an Igbo says he has PhD, especially from their town, know that its equivalent to HND.

U can also see how someone who called herself a finance minister is financing everything to brokenness.

Naija don entre debt, country don broke...

CBN under sanusi was a bliss...he wld av handled this current situation with great acuity and precision.

I strongly dislike your statements about the igbos must you insult a them? Can't you be civil in your statements? Stop behaving like a kid and discuss about it or rather profer better solutions,
Back to the matter.
We are in serious economic problems oh, tough times awaits every one due to the ripple effects. All Nigerian should raise their voices because
water wan pass garri. Mods front page.

Marotzke:
The mumu here is you. Did you bother to find out why currencies of oil exporting countries are falling with respect to the US dollar? In your rush to make a political capital out of a serious situation, you have exposed your congenital Idiocy. Ode.

Ode , olodo, Obo, ole, Atole, Monkey, yeye man.

Always supporting the wrong side. su su ode

Ha this one na big problem

i cann't travel now but i will wait till buhari get to aso rock bcs dollar will reduce

buhari till 1dollar become N5

Purej:
i didnt post this topic because of pdp or apc thing, u have just politicise this, so u are happy that dollar is now N200. u have forgotten that, assuming Nigeria has robust foreign reserve, she will be in a better position to defend the country's currency against the dollar.

Go back to elementary economics, Ode na him u be

What is wrong with the U.S. Dollar exchanging for N1000? It's not my job to give you free lessons in economics but I will give you a few hints. Recently, the Japanese Yen weakened against the US Dollar and most Japanese manufacturers were ecstatic. The US has been putting China under a lot of pressure to strengthen the RMB.

Purej:
i didnt post this topic because of pdp or apc thing, u have just politicise this, so u are happy that dollar is now N200. u have forgotten that, assuming Nigeria has robust foreign reserve, she will be in a better position to defend the country's currency against the dollar.

Go back to elementary economics, Ode na him u be

Russia have used eighty five billion Us dollars to defend the rouble, yet the currency have lost almost 60% of its value.

Elementary economics will tell you that a diversified economy stands a better chance of withstanding shocks due to currency fluctuations that economies that are based on a single source of foreign exchange.

Marotzke:
Russia have used eighty five billion Us dollars to defend the rouble, yet the currency have lost almost 60% of its value.

Elementary economics will tell you that a diversified economy stands a better chance of withstanding shocks due to currency fluctuations that economies that are based on a single source of foreign exchange.

Do u realise that, Russia economy is facing serious sanctions, enough to cripple their economy

[s]

aljharem:
Too many mumus in this country. So Russia and other countries should sack their apex governor because of world oil prices drop.

In fact you call for the head of our past HOS such as buhari obj etc that didn't diversify our economy.

JONATHAN is trying to do that now and yet you paid apc goons can't see that.

Smh

[/s]

Kanuri man, How market?

We don't run an adminitration where one illiterate will send his military to stabilize oil prices.

Purej:
Oga, Russia's problem is due to sanctions . Nigeria's foreign reserve is very weak now. thats y she cant defend her currency against dollar. stop being sentimental.

We have the opportunity to save when dollars was rossy, but our government didnt, they tought it will continue like dat

Tell him because this is among the reasons and more why i want a change of goverment, i don't think there is a country worst affected by the down fall of oil prices like Nigeria, imagine how hard i try to convince my costomers that pharmceutical products have increase drastically in price, looks to me it doesn't take a fvcking Phd to run this country a person who is reasonable can do it. Sorry to say this dispite all my are angry with me for saying it, i must say it i owe it to posterity to stand against mediocrity. This Goverment Has Failed. Truth be told.

Purej:
Do u realise that, Russia economy is facing serious sanctions, enough to cripple their economy

If we have a robust foreign reserve, it wont be this bad. do u knw the effect of N200/dollar on our economy

SLIDEwaxie:
That guys knws nothing..

I'm sorry but "that's all folks" for an intellectual Igbo man...

Anytime an Igbo says he has PhD, especially from their town, know that its equivalent to HND.

U can also see how someone who called herself a finance minister is financing everything to brokenness.

Naija don entre debt, country don broke...

CBN under sanusi was a bliss...he wld av handled this current situation with great acuity and precision.

First tym I will be insulting someone in nairaland. You are a big fool, an idiot. instead of u to concentrate on d topic u keep on envying the Igbos. continue envying us, we will keep on moving higher. I am Sure u don't av anything to contribute. even d owner of the thread doesn't know what he s talking about. he s definitely not an economist. the only time our exchange rate will favor us is when we start patronising our own products. let us continue to buy foreign products and soon our exchange rate will reach 500.

datibo:
First tym I will be insulting someone in nairaland. You are a big fool, an idiot. instead of u to concentrate on d topic u keep on envying the Igbos. continue envying us, we will keep on moving higher. I am Sure u don't av anything to contribute. even d owner of the thread doesn't know what he s talking about. he s definitely not an economist. the only time our exchange rate will favor us is when we start patronising our own products. let us continue to buy foreign products and soon our exchange rate will reach 500.

Oga , i know wat am talking about. Nigerians love to buy homemade stuff, but ask yourself, how many tins do we produce in this country, the LG or samsung TV u r using, is it Nigeria made, The problem is weak foreign reserve. Even with the drop in oil price, it wont have been this bad assuming we have been saving for raining day,

Soon u will realise the effect of this N200/dollar, just wait till next week

Purej:
Oga , i know wat am talking about. Nigerians love to buy homemade stuff, but ask yourself, how many tins do we produce in this country, the LG or samsung TV u r using, is it Nigeria made, The problem is weak foreign reserve. Even with the drop in oil price, it wont have been this bad assuming we have been saving for raining day,

Soon u will realise the effect of this N200/dollar, just wait till next week

u don't know wah u saying. I argue with economist like myself. no time. chao

Nigeria is in a deep shit. our economy is sinking fast. # no lifeline.

youngalex:
That Nigeria is an import dependent country today is caused by the inability of successive governments to diversify the economy,what we should be asking the presidential aspirants is the strategy they will introduce to strenghten the naira,that should be the priority

Buhari said he will control world crude oil prices with Nigerian army, air force and navy. What has ur Gej said ?

Bruteforce1o1:
[s][/s]

Kanuri man, How market?

pentagonal when will you grow up?