₦airaland Forum

ProfDview1:
Can someone explain this to me?
In a lay man language

Yes...
To me it means those responsible, promoting the dollar and killing the naira in Nigeria is payback time for them to taste thier own cup of coffee.

WildChild00:
What is this baba saying again?

It is exactly your kind I'm referring to.

This is so scary

Then why am I still receiving naira at #365 from Worldremit? Damn i hate this country.

Anyone who wants to buy dollars at 400 negotiable should quote me...

Strictly on payoneer please!

No wahala....

We dey here.

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obembet:
All this are not new to a typical Nigerians... We are use to it

Don't worry, it's about to double by 2. Very soon we will realise that it is not a normal way of life to be used to suffering.

rusher14:
It is exactly your kind I'm referring to.

Old man change oooo

JasonJidenna:
To think that General buhari took so much time in appointing Failures and gathered some bunch of unprofessional certificate forgery mofo's as his economic team makes me angry....

Our Economy has been in total shambles even before the lockdown. No hope in sight for the common man except his Creator.

We didn't have it this bad when we had Ngozi Okonjo-Iweala handling our economy.


Na God go help us.

Bunkum and balderdash

In Lil Wayne voice " I see the blood in your eyes, I see the truth in (government) your lies, and I see nobody (masses) by your side.

Ya Allah help we the poor and the vulnerable in this country, we are helpless...

Thank God I'm still single.

seedorfg:
In Lil Wayne voice " I see the blood in your eyes, I see the truth in (government) your lies, and I see nobody (masses) by your side.

Ya Allah help we the poor and the vulnerable in this country, we are helpless...

Allah won't help you.

Kobicove:
When a foreign company makes an investment in a Nigeria it gets issued a document called a Certificate of Capital Importation so long as the funds came in through official means and is documented by the CBN through the Nigerian bank which handled the process.

This document entitles you to purchase forex at official CBN rate when the foreign company wants to liquidate its investment and take out its funds.

The issue now is that due to the fall in price of crude oil the government and by extension the CBN is not getting enough forex therefore the foreign investors are unable to get an allocation of US $ so they can remit the funds to their home countries.

Surge in capital flights would kill the economy faster than coronavirus if the CBN allowed these selfish capitalists to abandon same economy they've profited from over the years.

Nigeria's foreign reserves plunged from $38 billion in January 2020 to $33.7 billion this month, this would kill the economy and worsen the nation's credit rating without buyers for over 60 Nigerian oil cargoes. Even April loading still don't have buyers, March was sold at a great discounts.

The CBN won't ruin the economy because of few capitalists.

CBN recently fined 28 banks N1.4 trillion to ensure their is no excess cash holdings in the banking system for these capitalists to continue liquidating.

It is currently trading at $1 to #390.14 officially and #435 in parallel market..

SenecaTheYonger:
Then why am I still receiving naira at #365 from Worldremit? Damn i hate this country.

There is a global scarcity of the dollar.

$1 to #599 is near

May be you can then.
This is my account OOIZZO56Z4 Access bank...okandeji ishola

Meanwhile I use z instead of two because of the mod ban.

Thanks.







@Raalsalghul

Dollar please hit 500, i want to cash out

chrischukszy01:
Pls where can I apply for change of country?

I swear me self dey interested... You look left and right, front and back, and up and down, it's not just looking like there's light at the end of the tunnel. Anything negative you can think of is present in Nigeria. From having a vegetative president to having terrible leaders and followers. Sit down at home to curb the spread of COVID-19, they said No. Okay, NCDC wants to evacuate some suspected CoronaVirus patients from Makoko, area boys said they must be settled or else there's nothing anybody will do to take the dying patients to isolation centre. And truly staying indoor too has its own consequence. Look at hunger starring us in the eyes and the little money we have cannot buy anything again since prices have skyrocketed.

Bros, please alert me when you get the change of country form jare.... I just need to get out of here before things go from worse to worst.

Finishing!!

Honestly Nigerian government albeit all of us need to think outside the box.the government really need to review our economy policy and restragise and position a sound team to help manage our policies at this critical time that lies ahead

stonemasonn:
Too many negatives. Whose fault, Buhari? or the world's economy.

Buhari

I'm just speechless. we are suffering as if we are in a warzone.

JasonJidenna:
To think that General buhari took so much time in appointing Failures and gathered some bunch of unprofessional certificate forgery mofo's as his economic team makes me angry....

Our Economy has been in total shambles even before the lockdown. No hope in sight for the common man except his Creator.
We didn't have it this bad when we had Ngozi Okonjo-Iweala handling our economy.
Na God go help us.

You ve never had one before. It was just high crude oil price so there was much dollar to play it.
Until states starts doing their own things and stop this share the money monthly reggea ..Bros nothing dey for apiapia body. We are in for a sh.t!

Not sure if this is important, but the value of Naira to dollar stands at about N390/$.

Perhaps "Naira to $ in forwards market" means something other than the simple exchange rate.

dre11:
• Naira falls to N498/$ in forwards market





https://thenationonlineng.net/dollar-scarcity-stops-capital-repatriation-by-investors/

pmoye:
Not sure if this is important, but the value of Naira to dollar stands at about N390/$.

Perhaps "Naira to $ in forwards market" means something other than the simple exchange rate.

It is exchange rate futures! How much people would be ready to swap both currencies at a future date.

Meanwhile is your N390/$ official or shadow market rate?

If actually our leaders and Economist will look forward and see a better Nigeria with diversification of the Economy than oil dependent .we won't be afraid of recession we have a lot of agricultural products than can surpass crude oil in boosting the nations Economy .

rusher14:
If you like continue hiding your head in the sand.

Until YOU produce your nation is doomed.

Produce everything - Rice, pencils, clothes, footwear, sugar, building materials, razor blade, bicycles, etc.

A country of jobless people mocking their nation for even producing pencils is destined for failure.

Oga Zoohari economic blueprint is a disaster, Buhari don't know jack about making money beyond taxation, I don't blame him, dude has probably never run a business before in his life. PDP may have dragged us to the edge of recession under GEJ but truth be told, Buhari sunk the Nigerian economy with his useless economic policies. But his useless government will blame their woeful economic performance on oil price fall, but only an idiot will fall!for such a dumb excuse. Same price crude oil is selling now is the same price it sold under OBJ presidency. Can you compare Nigerian economy under OBJ presidency to Nigerian economy under this Zoohari government? Whether you admit it or not doesn't change the fact that Buhari is a disaster to the Nigerian economy.

chrischukszy01:
Pls where can I apply for change of country?

At the cemetery. Abba Kyari just finished changing his few days ago.

VaselineCrew:
but Nigerians are more concerned with rumored nnamdi Kanus death, than the suffering coming in Nigeria.

How come a serious topic on nairaland never goes beyond 2-3 pages, but tribal threads reach 20?

That’s to tell you the mindset of a typical Nigerian.

Anyways now is the time for wisdom and hardwork for those that can see what’s coming.

Don't forget profit too.

Openbusiness:
Oga Zoohari economic blueprint is a disaster, Buhari don't know jack about making money beyond taxation, I don't blame him, dude has probably never run a business before in his life. PDP may have dragged us to the edge us recession but truth be told, Buhari sunk the Nigerian economy with his useless economic policies. But his useless government will blame their woeful economic performance on oil price fall, but only an idiot will fall!for such a dumb excuse. Same price crude oil is selling now is the same price it sold under OBJ presidency. Can you compare Nigerian economy under OBJ presidency to Nigerian economy under this Zoohari government? Whether you admit it or not doesn't change the fact that Buhari is a disaster to the Nigerian economy.

Don't go and work.