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Nairaland Forum / Nairaland / General / Business / The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam (26458 Views)
‘Anyone Caught Abusing The Naira Will Face Jail Terms’ – CBN Warns Nigerians / ‘this Is Why The Naira Fell Despite CBN Intervention’ – ABCON / FOREX: FG Orders CBN To Abolish Parallel Market - Leadership (2) (3) (4)
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Ajiswaggs(m): 12:47pm On Mar 03, 2017 |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Papertrail11(m): 12:47pm On Mar 03, 2017 |
in summary when you leave the control and descion making of currency control in the hands of illustrate bdc Hausa men who will amrk it a habit to suck govt out and make a riddule of our national currency then expect the worse. the banks should sell foreign currency alone not aboki mallams other countries like Namibia Gambia bostwaba have higher value of their local currency greater than the value of naira yet how much inflow of dollars do they reciece so this pple should spare us cheap talk about oil price bla bla bla even when we oil price was 32usd as against 54usd we have as at today why haven't out currency fared considerably better nm 2 Likes |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by profmallor: 12:49pm On Mar 03, 2017 |
Nigeria will never move from a "buy and sell" economy to a "produce and manufacture", as the Dr put it, until that thing called crude oil is almost worthless. As long as crude selling makes sense in the international market, Nigeria would never develop. Manufacturing can never strive in Nigeria until the cost of importing goods is almost at par or higher than making them locally, and that wont happen until the import tax duties discourage importation of certain goods/services, and ofcourse Nigerians would cry out when things start to get too tight. I believe we are a very corrupt people and we missed a great chance with the Military to get Nigeria on the right track. I however believe that if for some divine reason the price of oil crashes and stays so for a very long time, that might just be the push to allow us diversify our economy and start to begin to seriously consider looking into Making things and exporting them. 2 Likes |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by profmallor: 12:52pm On Mar 03, 2017 |
Our appetite for Dollars is crazy, thats why the Naira would never strengthen much against the dollar. But also you need to ask if those countries you mentioned stack away Dollars the way our politicians do. Papertrail11: 2 Likes |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Gabbyelep: 12:55pm On Mar 03, 2017 |
merely academic! |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Idrismusty97(m): 12:57pm On Mar 03, 2017 |
Abeg which new ponzi scheme don lauch make i drop 10k? 1 Like |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Emassive(m): 1:00pm On Mar 03, 2017 |
Hausa, Igbo and Yoruba are our major problem in this country. We need to eradicate their stupid lifestyle of buying and selling... #Findtrouble |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by nekede11(m): 1:10pm On Mar 03, 2017 |
THE PROF MAKE SENSE FOR THE WRITE UP....but i no read the write up |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by maasoap(m): 1:14pm On Mar 03, 2017 |
seguno2:I don't know about other religious places of worship but to establish mosques because you want to be making money, wrong investment. 1 Like |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by hausatoomumu: 1:25pm On Mar 03, 2017 |
Jeffrey12:that is because this post is not for people like you |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by bettercreature(m): 1:29pm On Mar 03, 2017 |
I said it few weeks ago,nobody want to go into manufacturing business reason unemployment is very high in africa |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by seguno2: 1:30pm On Mar 03, 2017 |
maasoap: I guess that the Baba Adinnis are given chieftaincy titles for being poor? |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by InvertedHammer: 1:46pm On Mar 03, 2017 |
"embarrassing instability suffered by the greenback in exchange for the US dollars" A little research would have shown whoever did the introduction that US dollar is also known as greenback. He tried to sound intelligent but the opening paragraph displays his ignorance. / 2 Likes |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by bandol(m): 1:49pm On Mar 03, 2017 |
incredible. 100% investment return within 24hours. check my signature. Too good to be true. |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Owill1(m): 1:51pm On Mar 03, 2017 |
BMZK:Building of religious houses is now a lucrative business especially in dis part of our world..So i guess he was on point. |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Nobody: 2:08pm On Mar 03, 2017 |
Just like how a currency trader was advising Nigerians to go and change all the Naira to Dollars so that he and his colleagues can make money from unnecessary demand on the Dollar. |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Nobody: 2:13pm On Mar 03, 2017 |
Lordsocrates: very true & this part about Yinka, Nnamdi and Dogo really cracked me up |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Nobody: 2:26pm On Mar 03, 2017 |
The part about the HND/BSc got me cracking. You see, many PhDs from Columbia and Havard University are partly responsible for the financial crisis of 2008. With a few dollar contribution they'll say anything in a "financial expert" capacity. Specifically, Icelandic banks created the crisis in Iceland in connivance with Columbia/Havard PhDs when they gave their expert opinion that it is okay to use $100 billion in debt to finance foreign acquisitions. That amount dwarfed Iceland's GDP of $14 billion. Everyone knows the role Alan Greenspan, PhD, played leading up to the crisis, he's anti-regulation. What about our very own Iweala? Contrarily, Hank Paulson (non-PhD but experienced) who was Treasury Secretary in 2006, Goldman Sachs CEO prior that, had the economy crashing down under his watch. When it comes to experience v. PhD, everyone could be just as bad especially when corruption and self-interest are the overriding factors. My point being, oversimplifications(BSc bad, PhD good) such as the one suggested in this article is misleading, and doesn't reveal the fine details of a particular situation. How to spot a Nigerian academic? They think everyone else is stupid until they earn the PhD degree. 3 Likes |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by soulfood(m): 2:27pm On Mar 03, 2017 |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Nobody: 2:32pm On Mar 03, 2017 |
from this article and the way to Nigerian responded it shows our level of reasoning on how this issues and economic challenges can be resolve and with the set of people at the a of the affair I doubt it. we have got a long way to go . we need to work on infrastructure. we need to work cost governance high budget should be placed security .. not the political looters we need to work on collective responsibility the best of the nation should be at heart. we need to work on citizenry build a free duty trade zone for development of technology and manufacturing companies Free duty to capital investor tourism development. we made the senator overpower our police . while the three arms of government is find in bribery . Nigeria a land so blessed potentials but full of human errors. you need a rebirth |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by maasoap(m): 3:34pm On Mar 03, 2017 |
seguno2:I will leave you to it since you already knew all these. No be only Baba Adinnis, why not put Iya Adinnis join am? |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by GreatManBee: 4:12pm On Mar 03, 2017 |
True Talk! Lordsocrates: |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by sshalom(m): 4:32pm On Mar 03, 2017 |
While this piece is intellectually 'loud', it rings only the old bell of pointing out but not providing solutions in detail. The challenge of our economy is not as a result of what the writer termed 'HND and Bsc Managers' but more of the poor political will to do the right things and stick to what is working no matter whose ox is gored. For instance; there can NEVER be any real manufacturing renaissance in Nigeria except there is constant power supply. How then do we ensure this? There is more than enough reason why the Niger Delta question must be addressed as the gas feeding our old and new power stations comes from there. Yet; it is not until recently when the government decide to engage the region. A country doesn't just fly into an industrialized state - it is a serious process of planning and consistent implementation of identified key activities that will drive that vision. Unfortunately, Nigeria's political class only plays politics without minding the realities of the future! 1 Like |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Sezua(m): 4:58pm On Mar 03, 2017 |
adioolayi: Where did you see Bsc holders running the economy? |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by sosy25: 5:12pm On Mar 03, 2017 |
I am interested. Please contact me via my signature. Jeffrey12: |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by hero2000: 5:35pm On Mar 03, 2017 |
Anyone who lives in glass house should be wary of throwing stones. You call some people run of the mill HND and Bsc. Whether that is true or not, you have a PhD yet your write up has at least 5 grammatical errors! Normally I should have ignored the errors but 'With the same measure you measure for others it will be be measured unto you'. Below are grammatical errors: "...a country economic structures and processes captures the essence.." "They themselves radiates little or no confidence..." "...they have manage to even bastardized the structures..." "...buy and sell process shows why everyone sell the same.." "Nigeria have a long way to go." 1 Like |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by ShootToKill: 5:38pm On Mar 03, 2017 |
No economically sensible person in zoogeria will save his money in naira. The currency is dead already, it's just waiting to be buried. Buy dollars and keep even if it is a $20 bill/every 2 months, else all your labour and sweat to save will go down the drain. I'm very sure that in my lifetime, I'll exchange 1 dollar for N5,000. |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by hatchy(f): 6:48pm On Mar 03, 2017 |
BMZK:Na wa for you o! Can't you use your brain to deduce that he's trying to balance the blame by bringing in mosque than just saying churches alone. Everyone knows that it is only the churches that are set up for profit making. I hope you gat what I'm saying. |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Horlufemi(m): 7:21pm On Mar 03, 2017 |
Deep sigh |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by abbey621(m): 8:01pm On Mar 03, 2017 |
I just want it to get back to 520 and when I'm done exchanging it can go back down all the way to 200, is that too much to ask? |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by Nobody: 10:35pm On Mar 03, 2017 |
are you a currency trader? of did you just buy dollars based on speculation? abbey621: |
Re: The Unstable Value Of The Naira In The Parallel Market - Afolabi Olugbemiga Sam by abbey621(m): 2:42am On Mar 04, 2017 |
NubiLove: Nope I just make my money in dollars from my regular office job. |
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