₦airaland Forum

Why won't they hoard when the official rate is tied. If there is one thing money hates, it is uncertainty. Carry on Buhari. We are waiting at the bottom.

Bevista:
Macroeconomics is not Business Management!
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You think that without a clear improvement in the economic fundamentals and structural defects in the economy that Naira can appreciate on a sustained basis? As long as oil price stays low (low supply of $$) and we continue to import every thing (high demand of $$), the exchange rate will remain high. You will get such parabolic movements every now and then, but never a sustained appreciation.
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Ubah cannot perform any magic that will last more than 1 Week. [b]I dare him! [/b]Does he have unlimited Reserves to supply the market?
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Prepare for an exchange rate below N250/$ for a sustained period of time. Even your CBN can't do much right now, except our FX earnings improve or our import substitution programs start to work.

My dear sir,I do understand how your knowledge of economics is in play here,but first realise this,The price of petrol isn't the the reason the Naira depreciated or saudi arabia,russia and every oil dependent nation will be in our similar mess. This is purely a poilicy ish, and the depreciation is ARTIFICIAL,aren't u getting it?? Isn't our exchange rate still at 199 to a dollar officially? See beyond the books my man.

write2obi:
This situation we found our self in, really sucks, and i'm sick and tired of this. My problem is not now much naira is to dollar but rather how it move back and forth at will. I'm afraid to sending money to China because i don't want to send money today and wake up tomorrow to hear that it's now 1usd to 190.
This is not the change we voted for oo.

if you reading internationally and you still buy from BDC then I think you have a problem... where you can send the money from your account and d exchange rate is not 355

TheSunSon:
My dear sir,I do understand how your knowledge of economics is in play here,but first realise this,The price of petrol isn't the the reason the Naira depreciated or saudi arabia,russia and every oil dependent nation will be in our similar mess. This is purely a poilicy ish, and the depreciation is ARTIFICIAL,aren't u getting it Isn't our exchange rate still at 199 to a dollar officially? See beyond the books my man.

Saudi Arabia and Russia had Foreign Reserves in excess of $750b and $450b respectively before the crises. They have spent over $150b each defending their currencies preventing it from crashing. Nigeria does not have such luxury of high Reserves to use to support demand.
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I understand that part of the Naira depreciation is speculative/artificial. But N200/$ is unrealistic right now, else CBN would provide enough $$ to meet demand at that price.

Fear and greed rules the financial markets worldwide.

When naira appreciated, the demand for dollar went up, since more Nigerians saw that they could buy dollars cheaper than the day before. Simultaneously, those with dollars were hesitant to sell, since the dollar had effectively depreciated.

So there were fewer dollars on the market at the end of the day (fewer sellers), yet more demand for the dollar (more buyers).

This lead to the reversal. What we need is consistent influx of dollars to make sure it doesn't get scarce, but of course that is why we're in this jam in the first place

SAI Ifeanyi Ubah, come and take your blame because you took the praise of the gullible and even jump to social media to appreciate their support. their praise of you just shows how poverty has affected Nigerians reasoning between me and you, we know that what happened was as a result of panic sales by Nigerian speculators that heard of the arrival of foreign speculators on Friday which brought the dollar to 365 Naira.

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

............Fantastic submission, l said the same thing but in a different form to my friend few days ago in Nigeria, you hit the nail on the head, except Nigeria wakes up and do the right thing, we might be heading to a very dicey moment, enough of this blame game, God has given us brain to think so we can allow him rest......

anonimi:
www.nairaland.com/attachments/3115319_fbimg1448250582417_jpegc4783182a1b9ab0ed04c3f1b5f5e1fbf




www.nairaland.com/attachments/3365132_img28444825621079_jpeg_jpegf9550905cf76a0528a45c012d90bd633



www.nairaland.com/attachments/3354450_buhariblamegame_jpeg0b14609fadf8ec0fc0075fc327e83784

.....Hhahaha, you no dey taya for APC matter

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

brilliant

[size=18pt]Nigerians the writing is on the wall.

The President a dullard

Finance Minister a dunce

Hence Naira will always be in trouble [/size]

4nobody4every1:
.....Hhahaha, you no dey taya for APC matter

As dem no taya to dey hammer us with LIES and propaganda while ABANDONING their campaign promises, me sef no go tire for their matter o jare

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

Wow nice.

anonimi:
As dem no taya to dey hammer us with LIES and propaganda while ABANDONING their campaign promises, me sef no go tire for their matter o jare

.....Hahaha, na your gifs dey make me laugh especially the one of Jonathan, and you ask let me see who will blame me today, it got me laughing so hard, chai, no dull moment on Nairaland

Jumizie13:
Haabaaaa! Its still #199 now. Just checked it now

My friend, go outside and play with your mates. U think say this na nursery school?

dukie25:
Where's NgeneUkwenu who bought his for $1-#100.
Sai-babarians where una dey?

Go and enter the Lag.oo.n where you all belong!

or do you want me to provide Oba Akiolu's bus for the purpose?

Seven years #Wailing is still a long way to go!



Lastpage!

I wish NGN/USD pair can be traded on mt4..na to sell Dey gooo

Bevista:
Saudi Arabia and Russia had Foreign Reserves in excess of $750b and $450b respectively before the crises. They have spent over $150b each defending their currencies preventing it from crashing. Nigeria does not have such luxury of high Reserves to use to support demand.
---
I understand that part of the Naira depreciation is speculative/artificial. But N200/$ is unrealistic right now, else CBN would provide enough $$ to meet demand at that price.

Please, keep educating these bunch of IP.OD illiterates!

When they want to be mischievous, they start comparing Apples and Oranges!

They dabble into things they have zero-knowledge about while the few amongst them who are lettered, are so full of hate and refuse to acknowledge reality.


Lastpage!

EgusiSoup:
When would the dullard and all the APC e-diots on this forum have sense?

Anybody that voted for Buhari in the last election needs to has his brain checked!

No light, till now, i even heard he has gone to borrow again? Where is all the money recovered by Efcc from looters and Ghost workers? We should be talking of 1dollar=1naira? Welcome to Nigeria, the most Religious nation, on earth, and the most Corrupt.

HzRF:
This is of no use
Parallel market price is the 1 affecting Nigerians not CBN rate

Parallel market price is affecting illicit business men, criminals in short!
People whose business are criminal in nature hence they cannot go to a Bank and fill Form-M, to get Dollar at the official rate.

if your Business is GENUINE, you will be very happy now, cos you can fill your Form-M and then collect your Dollars from the CBN at #199.

Anyway, like the poster said, most of these #WAILERS have never even seen how a One Dollar bill looks like, talk of owning one!



Lastpage!

I honestly pray dis nation do not sink...

GEJ, why naaaaa?

jamesibor:
Not in the short term. No economic fundamental to support it.

Thank you. A voice of sanity here. Someone called Buhari is saying 1 + 1 is 4 and people are following him badly.

Sanusi said he should stop living in denial!

EgusiSoup:
When would the dullard and all the APC e-diots on this forum have sense?

Anybody that voted for Buhari in the last election needs to has his brain checked!

You are greatest fool for not voting him and may you never experience anything good through out his tenure. Anuofia.

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

1,000,000 likes

Quoted for subsequent reference

lastpage:
Go and enter the Lag.oo.n where you all belong!

or do you want me to provide Oba Akiolu's bus for the purpose?

Seven years #Wailing is still a long way to go!



Lastpage!

.....Una go kill person with laugh for nairaland, chai........Lol @ Oba Akiolu's bus.....buhahahahahaha

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

God bless you brother. even though I am a supporter of buhari I completely share in your sentiments especially the last part about looking inwards for solutions rather waiting for foreign help.

Stelvin101:
My guy this your article sweet me make i nor lie but you dey forget certain problems attributed to this dollar palava we are in. corruption dey one side dey look us for face with big smile, nepotism dey dia, tribalism nko e tander for dia, religious wahala yanfu yanfu. Where Nigeria as a country wan start from? We nova even fit love ourselves as one regardless of what tribe ur next door neighbor is? The funniest part of this problem no one is seeing is that banks are happy because they are making serious profit and they know they are the cause of this problem. It took me thorough thinking to understand banks are the problem.

Good! wellcome back to your senses. all of them are friends bankers and politicians they are all in it to profit themselves we nigerians the citizens are the ones being fooled

Damn I sold mine away when it fell lowest yesterday. I'm tempted to go change more tomorrow. I hope it doesn't fall again.

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

Comment of the day goes to you sir!

lastpage:

Parallel market price is affecting illicit business men, criminals in short!
People whose business are criminal in nature hence they cannot go to a Bank and fill Form-M, to get Dollar at the official rate.

if your Business is GENUINE, you will be very happy now, cos you can fill your Form-M and then collect your Dollars from the CBN at #199.

Anyway, like the poster said, most of these #WAILERS have never even seen how a One Dollar bill looks like, talk of owning one!



Lastpage!

Trash

So dollar is made readily available by CBN yt black market is swaming daily with buyers

Ibeg dey start frm front-page b4 going to last page

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

Ranting of an ant
Are you more intelligent than the President ?