₦airaland Forum

TheDevilIsALai:
NSE composite value wiped off $10bn in 6 mths and still falling.

The NSE has witnessed nearly 50% loss since may 29, 2015.

[img]http://www.tradingeconomics.com/charts/og.png?url=/nigeria/stock-market[/img]

Have you asked who is dumping shares and in return who is mopping them up?

Most of the shares being dumped come from foriegn investors who see the economy as a train heading for dissaster and most of those buying them are northerners. As the foriegn investors dump their shares it creates a ripple effect leading to most southerners dumping theirs which makes the shares cheaper for adamus to buy into.

As for the naira, the strict rules in place are just hogwash since the black marketers who are mainly northerners still have back door access to dollars from the CBN.

This move is meant to cripple southern business and in turn make the northerners control the forex market.


When I say sense is not part of the south una go begin curse una father

Let us give a round of applause to all the omowalabis who voted chain and bondage.

MagicBishop:
The politics of the Naira is greater than its economic viability in the eyes of the dullard and his useful idi0t supporters

MagicBishop:
The man is a stubborn goat.

I never knew one man's foolishness can be so dangerous that it will affect the well being of over 170 million people.

Emekamex:
Emefiele is the fool that is allowing his office to be undermined by the president.

kaypling:
All these broke boys on Nairaland too are supporting devaluation because it's opposite of what Buhari wants. I feel sorry for some of you. You guys are ready for bread, water, transportation to double shey?? This is without any significant wage increase in sight. Let's now forget the essentials, that phone, that car, that TV you've been praying and saving for will now be totally out of reach. When that happens, let someone now tell you "we're doing this for foreign investors" tell me you won't slap that person. NIGERIANS it's time to get creative. Go learn to produce something, glass, clay, pencils, shoes whatever. There's opportunity in all of this. If anyone thinks there's a sexy way out of this mess without some creativity, sacrifice and hard work, then you're deceiving yourself. We've left the Era of free money. My sister's driver told me about how his brother that used to sell phone accessories in traffic in Lagos, stayed back in their town to learn how to do glass. People like that I hail.

gists:
Not the kind of comment you expect abi? Na so e pain you reach?
No time to join issues with a jobless ipob.

gists:
Pls, someone should remind me when will the tenure of this CBN governor end?
GEJ brought him in to clear the way for their looting gang. Now that their is a change in the occupants of ASO rock, I can't wait to see the day we will have a real CBN governor - who can look the president in the face and make sound decisions.
And I don't give a damn whether the new-to-be CBN governor is a northerner, southerner, easterner or westerner!

MagicBishop:
As things stand nobody is having to forex directly from the CBN.

The black marketers still have back door access to forex from CBN.

The more we continue like this, the more southern businesses collapse and northerners get richer at our expense.

All this is a calculated attempt by Buhari and his cabal to stall economic advantage of the north and corner it for the north.

They have the power, civil service and military. Now they want the economy.

If you think this is far fetched then recall the zeal at which Sanusi used in destroying southern banks like oceanic and intercontinental bank. Now unity bank ( a northern bank) is relocating it's corporate HQ in preparedness to take over the NSE.

Dey there

Realdeals:
Will devaluation of the Naira strengthens it against the foreign currencies?

Progressive01:
Jonathan is an Ineffectual Buffoon - The Economist.(2016)

GenOrumov:
Bloomberg can go to hell for all I care.

Devaluation under Babangida, what position did it leave us? Worse than before we devalued and we have not looked back ever since.

Buhari means well for ordinary Nigerians from what he has said but trust these capitalists, speculators and greedy business men, they can never be happy with that decision.

A free market is good in an ideal society and not in a country like Nigeria where everything defies logic and common sense.

Progressive01:
Jonathan is an Ineffectual Buffoon - The Economist.(2016)

odogwu125:
that means Kemi Adeosun is totally clueless for saying that CBN is totally independent

Emekamex:
Emefiele is the fool that is allowing his office to be undermined by the president.

Progressive01:
Jonathan is an Ineffectual Buffoon - The Economist.(2016)

lionness:
I dont know why we cant just keep printing cash (I mean in a way we are about the ONLY person who knows we are doing this. America does this all the time without anyone knowing...why does Bubu have to watch our economy tank without doing something about it"