₦airaland Forum

drss:
forget it. buari is a dullard.

Liljeez:
But why did u have to copy and paste what i've already posted few hours ago......what sort of piracy is this

impeccablemee:
That's ATM transactions not inside banking hall with genuine reasons, please read carefully

dotcomnamename:
DOLLAR = N197

Please let me explain to those of us who don't understand Economic terms. Dollar has not increased since Buhari became president

1. Dollar is not our currency so dollar should not be our business

2. Our problem is not d government but our problem is our importers and consumers

3. Naira has remained at 197 naira to 1 dollar since Buhari became president

4. Buhari has promised not to devalue the Naira and he has maintained that promise

5. Both at CBN and at interbank rates,
dollar has remained 197

6. However because we are too lazy to produce what we use in Nigeria we import even toothpicks and matches

7. Buhari does not like d importation of luxury goods because luxury goods is d reason for most corruption, that is why he banned 41 products from having access to forex

8. However when Nigerian importers insisted on importing those 41 products, FG asked them to find their dollar at d BDCs parallel market also known as black market

9. And to discourage the pressure Nigerians are mounting on the Naira just to get dollars for importation, CBN banned DMBs from selling dollars to BDCs

10. To survive the pressure of excess dollar demands, BDCs resorted to sourcing for dollars from neighbouring countries through illicit money laundering routes

11. Because of the risks faced by BDCs to source for dollars, and because of the increase in demand for dollars by importers because China just resumed from their business holidays, BDCs keep increasing the price at which they exchange dollars to naira and now it is 400 Naira to 1 dollars

12. However that does not mean that govt has changed the exchange rate because if our genuine importers go to CBN and fill Form M to import raw materials for local production, they will get dollars at 197 naira each

13. So the problem is that we love to consume luxury foreign products yet we are too lazy to manufacture them here.

14. For example u will see a dull girl using iPhone 5 without even knowing simple physics and computer engineering part of how that phone was produced

15. I want Buhari to ban every foreign product from Nigeria until Nigerians learn to produce and use Made in Nigeria products

16. Let us stop complaining about dollar as if dollar has become Nigeria's currency

17. It is even bad enough that most of those complaining about the high exchange rate of dollar do not have 1 single dollar in their purse.

dotcomnamename:
WTF? copy what? gerrarahere men..

foriz4u:
nice piece of education there by op.
but some questions begging for answers

1) why is it that its only in Nigeria government don't make substantial and solid alternative 4 going ahead to block n implement a law?
since buhari either wants to fight corruption or wants our local industries to pick up, why didn't he create an enabling environment 1st, let the local industries kick start n hold grounds solidly b4 blocking foreign depended goods?

2) since u said getting dollar from d bank is @197, what is the selling limit CB gives each banks daily n why us it so difficult that parents can't even get dollar to send their children who school abroad for upkeep

my brain still booting for more questions...

rhymaster:
M

Simple answer: tough love!

Longer answer: Yes, Nigerian governments in the past have done things suddenly for years! That is not ideal but just like a parent who suddenly discovers an unhealthy lifestyle in their child, who is just one random step from ruination, you'd take drastic measures immediately otherwise your 6 - 12 months plan before he or she is grounded may be too late.

For a country, it is not so easy, plus Nigeria is already under a lot of pressure economically. Oil prices were falling almost every week, how much longer could the Buyari government have pushed out an ideal date to effect drastic and immediate changes? In 1 years time? If Naija governments of the past and everyday Nigerian citizens did not curb their appetite for foreign products and Forex Nigeria couldn't afford any longer, whatever 6 - 12 months plan would be crying after the head has been severed from the neck, figuratively speaking. Plus, what is the guarantee that a country, government and people who had record revenues of > $ 100 for many years and failed to achieve such a feat will no magically achieve same with record low prices in < 1 year? The government's decision is the best in the circumstance and Nigerians should better get on with the business of improving their lives and the economy of the country ASAP by manufacturing of learning to manufacture most things they consume.

Liljeez:
nairaland.com/2954563/falling-naira-facts-know ...
Check dat link...i posted this around 7:35pm....dis guy jux copied it and pasted around 9:34pm....come on...wahs dat for
Cc
Ezenddigbo

babadem2much:
Most of the guys commenting never hold up to $100 USD but seems to know much about the rising dollar.
thanks to OP for the brief enlightenment.

those who learn politics of bitterness will still spew trash here.

EZENDDIGBO:
you re the owner of this piece of work, how come you didn't arrange it the way the op does now?
That s why nobody commented there at your thread. Do a neat job next time, but op how come you copy and paste his work without reference to his name or username?
I hate piracy bro. Do the needful and put his name there. Piece of works by liljeez..

rhymaster:
M

Simple answer: tough love!

Longer answer: Yes, Nigerian governments in the past have done things suddenly for years! That is not ideal but just like a parent who suddenly discovers an unhealthy lifestyle in their child, who is just one random step from ruination, you'd take drastic measures immediately otherwise your 6 - 12 months plan before he or she is grounded may be too late.

For a country, it is not so easy, plus Nigeria is already under a lot of pressure economically. Oil prices were falling almost every week, how much longer could the Buyari government have pushed out an ideal date to effect drastic and immediate changes? In 1 years time? If Naija governments of the past and everyday Nigerian citizens did not curb their appetite for foreign products and Forex Nigeria couldn't afford any longer, whatever 6 - 12 months plan would be crying after the head has been severed from the neck, figuratively speaking. Plus, what is the guarantee that a country, government and people who had record revenues of > $ 100 for many years and failed to achieve such a feat will no magically achieve same with record low prices in < 1 year? The government's decision is the best in the circumstance and Nigerians should better get on with the business of improving their lives and the economy of the country ASAP by manufacturing of learning to manufacture most things they consume.

free thinking Is allowed

dotcomnamename:
DOLLAR = N197

Please let me explain to those of us who don't understand Economic terms. Dollar has not increased since Buhari became president

1. Dollar is not our currency so dollar should not be our business

2. Our problem is not d government but our problem is our importers and consumers

3. Naira has remained at 197 naira to 1 dollar since Buhari became president

4. Buhari has promised not to devalue the Naira and he has maintained that promise

5. Both at CBN and at interbank rates,
dollar has remained 197

6. However because we are too lazy to produce what we use in Nigeria we import even toothpicks and matches

7. Buhari does not like d importation of luxury goods because luxury goods is d reason for most corruption, that is why he banned 41 products from having access to forex

8. However when Nigerian importers insisted on importing those 41 products, FG asked them to find their dollar at d BDCs parallel market also known as black market

9. And to discourage the pressure Nigerians are mounting on the Naira just to get dollars for importation, CBN banned DMBs from selling dollars to BDCs

10. To survive the pressure of excess dollar demands, BDCs resorted to sourcing for dollars from neighbouring countries through illicit money laundering routes

11. Because of the risks faced by BDCs to source for dollars, and because of the increase in demand for dollars by importers because China just resumed from their business holidays, BDCs keep increasing the price at which they exchange dollars to naira and now it is 400 Naira to 1 dollars

12. However that does not mean that govt has changed the exchange rate because if our genuine importers go to CBN and fill Form M to import raw materials for local production, they will get dollars at 197 naira each

13. So the problem is that we love to consume luxury foreign products yet we are too lazy to manufacture them here.

14. For example u will see a dull girl using iPhone 5 without even knowing simple physics and computer engineering part of how that phone was produced

15. I want Buhari to ban every foreign product from Nigeria until Nigerians learn to produce and use Made in Nigeria products

16. Let us stop complaining about dollar as if dollar has become Nigeria's currency

17. It is even bad enough that most of those complaining about the high exchange rate of dollar do not have 1 single dollar in their purse.