₦airaland Forum

Biafrarep:
Thats true, he was absolutely sure it was speculators & the shylock called Dangote that was responsible for the dollar spike against the naira. He said the true worth of a dollar is 200 naira & he threatened to expose those behind it, since he understood the game very well, he went ahead to put his 500 billion naira assets on the line if the naira does not appreciate & viola within 24 hours, naira made significant gains!! We need more Ifeanyi Uba type of selfless businessmen & not those shylock types that want to control the whole economy at the expense of the masses. God will continue to enrich Ifeanyi Uba.

Sunnycliff:
I think Ifeanyi Ubahs words was a lifeline to the recovery of the naira. He voiced out and that sent cold shivers down the spines of the speculators and staked his assets and that made speculators to have a rethink. Ifeanyi Ubah saving Nigerians since the days of Abacha. #nwaigbo

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

Where that Golden Parrot called Fayose sef?make him come run him Jangolova mouth again.

Holyman3:
Let us Substitute Ifeanyi Uba with Tinubu here.
If it was Tinubu who said what Uba said, would you have given him some credit on the dollar fall or not?

HungerBAD:
Hehehehehehehehehehe.

Enemies don shame.

Nigeria is moving forward.

Where that Golden Parrot called Fayose sef?make him come run him Jangolova mouth again.

Burger01:
I love my president's 'doggedness'...no room for bullshiiits

You can't rule a country as complex as Nigeria if ain't gat balls..... Jonathan had no balls

drss:
hahahaha correct talk.no mind d dem APC fanatics.
Cc: Bevista

drss:
hahahahhahahaha see dis one Dey dia dey decieve urself. naira has been slidding downwards foreva since buari assume office 9 months ago. infact it was buari's manipulation of currency dat led to d slide of d naira. did financial times not condem buari for manupulating d nations currency afta d expulsion of nigheria by JPMorgan buari was clueless on wat to do for 8 months. only for infeanyi ubah to send shock waves on national tv dat he knows those responsible for d slide in naira. den gbam!!! in less dan 48hrs, naira gain N150 against d dollar just 38hrs after ubah's comment. u tink say d sudden appreciation in wake of ubah's statement na just coincidence wat ifeanyi did is exactly wat d minister of finance should have don. hold press condference or workshops like d days of NOI n declare dat d slide in naira was artificial. but wat did they do they were busy blaming falling GEJ n falling oyel price as d cause of d falling naira. wat exactly did buari do notin. do u now see dat falling oyel price is not d cause of naira depreciation
give thanks to infeanyi ubah for saving buari buttts.

ogasnow:
Well said. But please don't say 'ish' bruh. This is 2016.

kodded:
I thought apc Yoruba sycophants claim that it is impossible for the naira to go up within a month .?












I keep saying it untill e remove tribalism from us we will be going round the circle

Dikechigozie:
APC has come again with propaganda, just left zone in abuja,bought dollar for #320=$1 now .not up to 2 minutes.
Apc doing what the know how to do best.
Lies!!!!

dunkem21:
..All hail Ifeanyichukwu Uba ..

I thought people said that the free fall of dollar is connected to the fall in oil price ..

Krismart:
You not excluded

Burger01:
These were just mere speculations

odiks:
…As BDCs back Buhari’s no devaluation stance

THE naira gained about 30 per cent on Wednesday against the dollar at the parallel market to trade between N250 and N280 from N364 at which it sold on Tuesday ending two weeks of free fall when it peaked at N403 against the greenback at the parallel market last week Thursday.

The local currency had begun a gradual recovery on Friday, firmed sharply at the parallel market yesterday as retail traders, having anticipated a cut in its official rate and stocked up on dollars, bought the local currency back after the government said it would not devalue.

The naira rate closed at N197.50 on Wednesday at the official interbank market, where the CBN limits introduced late last year to defend a currency peg have restricted access to dollars.

That has funnelled demand for dollars on to the parallel market, a flow further fuelled by speculation of a possible weakening of the peg.

The Acting President of the Association of Bureau de Change of Nigeria (ABCON), Aminu Gwadabe, said the market was reacting to President Muhammadu Buhari’s ‘no devaluation’ stance.

He, however, expressed ABCON’s support for President Buhari not to allow further devaluation of the naira.
Gwadabe, who said the association was in partnership with the authorities to step up efforts to rid the market of illegal currency traders stated: “Like the President indicated recently, since the only significant thing we export is crude oil, devaluation will do more harm to the economy than good. So we also say no to further devaluation of the naira!” he stated.

He also affirmed ABCON’s backing to ensure its members comply with the Central Bank of Nigeria’s regulation as well as operate within the approved margin of 3.5 per cent with the hope that the demand and supply situation would improve to restore calm and stability in the market.

http://sunnewsonline.com/new/naira-gains-30-sells-for-n250dollar/

Adminisher:
The lesson is that we have a crooked and manipulated country.

People also tell LIES a lot.

The big lie is "market forces". There is no such thing in Nigeria. Hoarding, artificial scarcity, corruption, inefficiency are the determinants of prices.

We need Buhari so that institutions and big individuals start playing by the rules of the market.

nairacountry:
Just spoke with my BDC person now, he said dollar has risen again, as at this moment it goes for 340/$ here in zone 4 Abuja. It started yesterday night (when hardly you can find dollar sell) according to my source.
How true is this in your area?

Sunnycliff:
I think Ifeanyi Ubahs words was a lifeline to the recovery of the naira. He voiced out and that sent cold shivers down the spines of the speculators and staked his assets and that made speculators to have a rethink. Ifeanyi Ubah saving Nigerians since the days of Abacha. #nwaigbo

dunkem21:
..All hail Ifeanyichukwu Uba ..

I thought people said that the free fall of dollar is connected to the fall in oil price ..

InvertedHammer:
/
Kudos to Ifeanyi Uba.

When the parabolic slide started, I beckoned on the CBN governor to borrow a leaf from the Japanese and Swiss--both countries are notorious for verbal interventions. In verbal intervention, the only thing he has to do is to make a serious statement that will shake the confidence of speculators and they will liquidate their holdings. Uba made that call on national tv backed with N500b asset. No sane speculator will stand in the way of such bold move. And naira appreciated. Some people may never understand the implications of the statement by Uba.

The question is: Where do we go from here? When the dust settles, naira is heading back down towards N300/$ before the end of the year when economic fundamentals will thrive over emotions.

/

Keneking:
But where is lalasticlala sef

Infinitikoncept:
Where exactly is it selling for #250 coz I'm tired of all dix media aides doing a useless job for their paymasters. Here in Yaba its #300 so who is circulating this fake news

Ijaya123:
Go ahead and relish on your feel-good euphoria. It doesn't change the fact. Never knew infeanyi ubah is now the CBN governor,
SMH...