No wahala

Ko

For how many seconds?

When I heard it has strength icame to see if it was one naira to a dollar. Am most dissappionted .

But as usual blame it on goodluck.

I really want to believe in the CBN policies, and that it will help Nigeria in the long term, but I just don't understand the rationale behind all they're doing:

1. The spread between official and parallel markets is just too much to ignore, and more people will add more pressure. Afterall, who will use official means to exchange 1USD at #200 when you can get #270 for that same 1USD?

2. The restriction of how much money people can spend abroad is just going to force more people to move money outside official channels. This does not stop ppl with stolen funds, yet harms honest Nigerians who are doing business, or going to school, or touring abroad.

3. Importers and manufacturers cannot readily import, so goods won't be readily available, driving inflation. Worse, what used to cost #200 will have to cost at least #270 because the importer has to meet his margin. Even worse, he'll have to raise prices in anticipation that his naira will buy even less next time he wants to get goods. He might even decide to stop importing, making good scarce.

4. Even if people want to start manufacturing, how will they buy all the machines and raw materials they need?

5. Banks are less willing to lend money, which will drive up real interest rates, despite what CBN claims


All this will stunt the growth of the economy, make things hard to buy, make things harder to manufacture (since equipment is also imported).

So please tell me how all these CBN restrictions and bans is supposed to help the economy. Or does this mean that in 2016 I will need to stand in long queues in the sun for soap and rice, like I did when I was a child, back in 1984?

[size=14pt]I BEG OH!
THE LIES ARE TOO MUCH
WHERE THE NAIRA STRENGTHEN FOR PERSON HEAD OR MONEY MARKET[/size]

politricks:
The way this Naira is falling it would soon fall in love. Thank God it gained a little.

I pray it falls in love with me!

I don't think that Emiefiele is the right CBN governor at this difficult period. Mrs. Adeosun is also inexperienced to manage Nigeria economy in a period of difficulty such as this.

U call 270 to a dollar strength......
Nawa o

ok

From 270 it will go to 320 next week. Rubbish

Nigerian banks are making a killing from this volatility. Buying from CBN at N199 and charging N273 for all online transaction. My people this is the best time to own a bank!!!!

Fesomu:
Fools will blame buhari for everything..anyways that's why they are called fools sha...ignorant bastards

Just like Jonathan was blamed for everything......what goes around comes around

Is Buhari still our President?

Strengthen my FOOT.

Strengthen my FOOT.

The low thinkers that want to blame GEJ should look at how his administration kept the NGN stable even as the oil prices dove.
That is what good goverance is about. Not once sis GEJ blame anyone or anything he just worked hard to make this country flow.
Change you shouted for is here, you should have been more specfic, cause the change is as negative as they come.

kITATITA:
I don't think that Emiefiele is the right CBN governor at this difficult period. Mrs. Adeosun is also inexperienced to manage Nigeria economy in a period of difficulty such as this.

As a former banker, I would like to think he has some idea of how economies work, but unfortunately his hand are tied by his oga, who does not understand macro economics, has never invested and grown his own personal wealth; an oga who wants to micromanage and is unwilling to let his ministers excel at their jobs.


Sad sad sad

Hahahahahahahahahaha ROFL is this how we are finished. 270 and it is strengthened.

Lalasticlala please what happened to my last post.

Was still typing and you removed it, not fair bro

Fesomu:
Fools will blame buhari for everything..anyways that's why they are called fools sha...ignorant bastards

Jst as u blamed GEJ for everything. Karma at work

nextstep:


As a former banker, I would like to think he has some idea of how economies work, but unfortunately his hand are tied by his oga, who does not understand macro economics, has never invested and grown his own personal wealth; an oga who wants to micromanage and is unwilling to let his ministers excel at their jobs.


Sad sad sad

He could not even grow his cow stocks for 10 years and they expect him to handle a whole Nigeria? Sad is an understatement.

Fesomu:
Fools will blame buhari for everything..anyways that's why they are called fools sha...ignorant bastards

why are you more aggressively defensive even more than the buhari you mentioned?

simonlee:
I pray it falls in love with me!

Amen and me too.

The naira on Friday strengthened against the dollar after weeks of free fall at the parallel market. The currency gained N10 to exchange at N270 to the dollar after it nosedived to N280 on Thursday.

When dollar comes down to 180 then its proper to say that naira has strengthened over dollar. The price of oil in the global market is down and our senators are busy using the little we have to buy cars (No Value and always depreciates in value) and supporting the economy of other nation while our local car industry that needs such investments keeps dying.

Are we the only country in the world that there major source of income is oil, why are we Nigerians suffering. Why can't the government manage the little we have even though we have excess (in terms of natural and human resources).

Why can't the government diversify our economy, why can't our government thoroughly fight corruption instead of selectively fighting some people all in the name of corruption.

Even though i support my Sai Buhari i must say the truth, the only time we Nigerians will start to appreciate my Sai Buhari is when he starts delivering his campaign promises like 1$ = 1N. At this rate of dollar transfer its only the poor that suffers it while the rich gains more from it because its the rich that have the dollars and by that they have more buying powers. A property going for a billion Naira can be easily acquired by the rich by few million dollars.

My Sai Buhari, the poor Nigerians voted you in because we wanted change, we wanted to see a better Nigeria, a Nigeria where jobs are gotten by merits, a Nigeria with less Corruption, a Nigeria with less intimidation, a Nigeria were ethnicity won't be a barrier, A Nigeria that we Nigerians will be proud to call ourselves Nigerians.

Please don't kill the dreams of millions of Nigerians because we all know that you can achieve that and remove the huge burden called poverty/corruption that has eaten deep in Nigeria.

On the way to Nigeria to visit my parents for Xmas. I guess that's what the good Professor of Economics means that Naira will be strengthen. The diasporans coming to Nigeria for holiday.

I was beginning to wonder if the falling mantra will ever end

Fesomu:
Fools will blame buhari for everything..anyways that's why they are called fools sha...ignorant bastards

Pls u don't have to be very abusive to people's opinion on this thread. Everyone is entitled to his or her view on whether to criticized the president or not.

nextstep:
I really want to believe in the CBN policies, and that it will help Nigeria in the long term, but I just don't understand the rationale behind all they're doing:
...

All this will stunt the growth of the economy, make things hard to buy, make things harder to manufacture (since equipment is also imported).

So please tell me how all these CBN restrictions and bans is supposed to help the economy. Or does this mean that in 2016 I will need to stand in long queues in the sun for soap and rice, like I did when I was a child, back in 1984?

I really like your analysis but the main thing driving price up is limited foreign exchange available to the CBN. It is a way of rationing funds as our major foreign exchange earner is not doing so well at the moment. As reality dawns that reserves are lesser and lesser by the weeks the law of less supply would drive up the price.

Demmocrats:

...
Are we the only country in the world that there major source of income is oil, why are we Nigerians suffering. Why can't the government manage the little we have even though we have excess (in terms of natural and human resources).
Why can't the government diversify our economy, why can't our government thoroughly fight corruption instead of selectively fighting some people all in the name of corruption.
...
.

Nice observation but just this week a report came up that the department meant to look for alternative sources had been misappropriating funds dedicated to that project. If whistle blowing had long been encouraged things would not have worsened up to this level.

How bad? NNPC is downsizing https://www.nairaland.com/2809149/nnpc-set-sack-1100-staff

What abt d horizontal and vertical markets?