₦airaland Forum

bedspread:
With the manner our. Naira de fall, it remembers reminds me of Zimbabwe!!

tolexy007:
The naira dropped further to 313.5 against the United States dollar at the parallel market on Tuesday as shortage of foreign exchange, especially the greenback, persists in the forex markets.

The local currency had traded for 310 to a dollar on Monday.

On Tuesday, the naira closed at 199.40 to the dollar on the interbank market, according to Reuters, around the peg rate of 197 to the dollar.

This came just as the interbank lending rate rose to two per cent from one per cent on Monday, after the Central Bank of Nigeria had directed commercial banks to fund their naira accounts ahead of its intervention in the forex market on Thursday.


The overnight lending rates jumped by 100 basis points as the movement of naira cash for forex purchases drained liquidity in the financial market.

The CBN intervenes once a week at the interbank forex market to provide dollar liquidity for some eligible importers.

The naira had plummeted against the dollar last month after the CBN banned dollar sales to Bureau De Change outlets and later stopped daily sales to the interbank market.

The measures were aimed at conserving the nation’s external reserves, which have hit an 11-year low at $28bn.

“The overnight rate went up today to three per cent in the early trade but declined to two per cent after some banks funded their forex accounts,” one dealer said.

The interbank rate mirrors the level of naira liquidity in the banking system.

Traders said commercial lenders’ credit balance with the central bank opened at N978bn ($4.94bn) on Tuesday before the bank called for the funding for forex purchases.

The central bank requires banks to fund their forex account 48 hours in advance of its intervention.

http://www.punchng.com/naira-drops-to-313-5-as-dollar-shortage-persists/

onatisi:
I’ll make Naira equal in value to dollar, says Buhari On March 23, 20158:31 pmIn News by adekunleComments Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office. Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.

Read more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/

GetOvaMe:
When Buhari is through with Nigeria, there will be no use stealing the naira as it will have no value!


President Buhari is, Indeed, winning the anti-corruption war.

Sai Baba!

Know2020:
This country is finished!

[s]Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.

You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. They are already making excuses for Fashola...see 3rd topic now on front page. Hypocrites!

surestakes:
Let's not panic yet. It's quite certain it will get to N1,000 by the end of the year

Know2020:
This country is finished!

Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.

You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall been happening under Iweala? Oh lord...they will be calling for head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites!

henrybomb:
Our leaders forget ppl r listening when dey r talking..tinz dey can't do that is what they will do..#carelesstalk

Nienie:
chisos

tgmservice:
I don't understand I was at d bank the other day to trade some dollars and they said they are trading @ only 199naira to a dollar despite the increase rate I read abt everyday

Know2020:
This country is finished!

Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.

You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall happened under Iweala? Oh lord...they will be calling for her head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites!

Kenai:
Now that the Naira is 313 per dollar, I'd like to refresh your memories with some of the hypocritical comments made by the former "activists", better known today, as Buharists...

I'll be focusing on some posts made on this thread created during GEJ's tenure titled "Naira Now 172 To A Dollar. Why?"

Number 1

My broda, it took all of 16 Years for Naira to fall to 172 under PDP, but JUST 8 months to fall to 313 (141 steps!) under APC. Choi!
In that case, God only knows how many wheelbarrows of money we'll be needing to buy a sachet of Milo after 16 years of APC.

Number 2

Today, this dude is mute

Number 3

Bros, how far naa? GEJ has left oh. Now we have the Budget of Yams... But wait, did NOI cause it too?

Number 4

Well, we now hear "FeBuhari. Nothing's still changed.

Number 5

It's 313 now nigga. How about that?

Kenai:
Now that the Naira is 313 per dollar, I'd like to refresh your memories with some of the hypocritical comments made by the former "activists", better known today, as Buharists...

I'll be focusing on some posts made on this thread created during GEJ's tenure titled "Naira Now 172 To A Dollar. Why?"

Number 1

My broda, it took all of 16 Years for Naira to fall to 172 under PDP, but JUST 8 months to fall to 313 (141 steps!) under APC. Choi!
In that case, God only knows how many wheelbarrows of money we'll be needing to buy a sachet of Milo after 16 years of APC.

Number 2

Today, this dude is mute

Number 3

Bros, how far naa? GEJ has left oh. Now we have the Budget of Yams... But wait, did NOI cause it too?

Number 4

Well, we now hear "FeBuhari. Nothing's still changed.

Number 5

It's 313 now nigga. How about that?

dbucas:
****

Know2020:
This country is finished!

Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.

You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall happened under Iweala? Oh lord...they will be calling for her head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites!