₦airaland Forum

Johnrake69:
Artificial ke', the naira is no where near the value of the dollar. See if the naira is left alone to find its true value then we should be looking at #500 upwards. We don't produce anything in Nigeria that should support the current exchange rate. Even if they bring in Obama's economic team. The first step will be to devalue the naira.

Do you really know the effect of demand/supply on price?

When some people intentionally buy up or steal the whole supply and stash it, what do you expect as regards to demand and price?

When we had bountifulness of the dollar at over 100dollar per barrel, what was done with it. Even the stashed foreign reserve was depleted at the same time that dollar supply was bountiful. We have heard how GEJ and his bandits looted, unfortunately, they looted in dollars not Naira. They took the cash from CBN vaults. Those were supposed to be our supply but they took it to their personal vaults. Why won't the demand for what was stolen be high and consequently the price. Even the Dasukigate 2.1billion dollars if returned today would relieve the Naira from this artificially created pressure.

The rich among us have decided to perticipate in the pressure of the Naira by buying available Dollar hoping the president will devalue the Naira or the Naira would continue to fall while they smile to the banks.

It is the same thing with panic buying of petrol NNPC has been claiming to cause scarcity. Once people anticipate rise in price, there is instant rise in demand and a resultant fall in supply since the was never a need to increase it.

Demand and supply is elementary but it still applies.

Lexusgs430:
Exporters selling currency on the parallel market, are having a jolly!!!!

Parallel market is the way to go, no bank rates!

PoliticalThuG:
Next time when u hear "change", ask very well which type of change are they talking about.. I only pity my yoruba prothers who have nothing to produce apart from cocoa and cola

Thank God you know they produce Cocoa and Cola, I never knew your dumb head could realise that.... You d better be sorry for your own tribe.. Ode!

steph2sweet:
I have totally lost hope in this government, what a mess.

Face your books, you will not. How won't you lose hope?

1Ghana cedis=85naira

Kgdavid:
Face your books, you will not. How won't you lose hope?

No doubt you are a zombie, run along little kid.

steph2sweet:
No doubt you are a zombie, run along little kid.

Lame.

Chukzyfcb:
Yu'll have to use a 3rd party agent over there abroad. They'll collect your currency there & pay into your account here in 9ja. Their rate could be slightly lower tho. E.g $1 = 360 instead of 387

Who are the third party agents.
How can I get in touch with them?

All I know is western union and moneygram

Was it Buhari that emptied the foreign reserve when a barrel of oil was trading for over $100 a barrel

oga i vividly remember all the gorvernors gathering to demand for that money.. Rauf of Osun was at the front line.....

cococandy:
Who are the third party agents.
How can I get in touch with them?

All I know is western union and moneygram

I do not know of any 3rdparty agent abroad, UK in particular but some N'landers & I discussed how they did it yesterday. You might want to read this link. A guy named eriko2k2 who commented can put you through and some others who did likewise too. www.nairaland.com/2941584/naira-falls-n370-per-dollar/8#43041625

Franky826:
1Ghana cedis=85naira

Are you serious, how did you arrive at this rate because the official rate is below 65naira

Chukzyfcb:
I do not know of any 3rdparty agent abroad, UK in particular but some N'landers & I discussed how they did it yesterday. You might want to read this link. A guy named eriko2k2 who commented can put you through and some others who did likewise too. www.nairaland.com/2941584/naira-falls-n370-per-dollar/8#43041625

thanks

charliboy654:
And iPod can export inosson and aba made product to Europe and oda part of the world?

cola goes to north while cocoa goes to lagos and aba

1Dray:
Stop talking trash or what you don't know, last week Friday I did online purchases using my visa card and I was charged N315/$ by Access bank, people using First bank said they were charge N322.5 that same day. People that did online purchases yesterday using their visa/master card said they were charged N385/$ and you're here talking garbage. As usual asslicking your 75 y/o change president.

Banks have stopped online payments for online shopping. All these numbers you're throwing around na wash. Try Aliexpress, Amazon etc. Payments won't go through.

So stop talking trash.

Johnrake69:
This story is becoming stale don't you agree? That was why we voted change. Now we have the greatest fraud ever in our history via the budget. A whopping #2.2trillion is about to be borrowed to fund #2.2trillion fraud in the budget. At least the past administration stole from our earnings. This administration is about to mortgage the welfare of the future generations for its own stealing.
The following indicator should open your eyes;
The diversification strategy of the current govt is a joke when we consider the budgetary allocation of the past govt for critical sectors like agriculture. GEJ allocated 1.6% to agriculture. Buhari reduced it to mere 0.48%.
What is the economic direction of the current govt?

I agree that you have your rights to express your opinion on national matters. I won't go down that lane with you.

What I am saying before is that I don't agree with sensational write ups. This facts given by the op are scattered and distorted.

By the way, as you lay your bed so you lie on it. If you don't inculcate the habit of prudence, you will suffer for it on the rainy day. Simple.

Localamos:
Banks have stopped online payments for online shopping. All these numbers you're throwing around na wash. Try Aliexpress, Amazon etc. Payments won't go through.

So stop talking trash.

Sorry, the only one talking trash here is you! You an ignorant fellow, I have two online shopping/payments and you're here talking rubbish.

1Dray:
Sorry, the only one talking trash here is you! You an ignorant fellow, I have two online shopping/payments and you're here talking rubbish.

If you are able to recently make successful online payments, then I'm sorry for the trash talk.

However, CBN has announced temporary embargo on Nigerian ATM cards for use in the US, UK, China and some other countries. Same goes for online payments going to these countries. My bank (Access) has also communicated this to their customers via email. I've also tried severally to use my card but without success. So I think yours is actually an exception.

Still the write up is pure sensationalism. It lacks facts and merits.

- Bloggers with Adsense on their sites

- Foreign Affiliate Marketers like Amazon, ebay and others

Localamos:
If you are able to recently make successful online payments, then I'm sorry for the trash talk.

However, CBN has announced temporary embargo on Nigerian ATM cards for use in the US, UK, China and some other countries. Same goes for online payments going to these countries. My bank (Access) has also communicated this to their customers via email. I've also tried severally to use my card but without success. So I think yours is actually an exception.

Still the write up is pure sensationalism. It lacks facts and merits.

Which village do you reside? Leave there, you're living in the dark. Yea, "the write up is pure sensationalism. It lacks facts and merits"... Typical of an asslicker. Olodo labata!

1Dray:
Which village do you reside? Leave there, you're living in the dark. Yea, "the write up is pure sensationalism. It lacks facts and merits"... Typical of an asslicker. Olodo labata!

Lol... sorry Mr 21st century smart ass that resides in the big city. Keep living in your fantasy world of delusion, denial and depravity.

5 years from now, if you still keep this your pitiful attitude, then I'm sorry for you!

Chukzyfcb:
Are you serious, how did you arrive at this rate because the official rate is below 65naira

I live in Ghana, Kumasi precisely what am telling you is official and it could get worse