₦airaland Forum

Lordsonn:
Foreign reserve is going down deeply. We all know why naira is depreciating now.
The next move is for the government to borrow billions of dollars to defend naira. This method cannot sustain for long. CBN has given out 2 billion dollars in less than two months to banks and BDCs to defend naira. This is sad.

When the illiterate people open their mouth to talk, it is very easy to decipher. You were told that it is the parralel market that had a slip and not the official market yet you still arguing blindly. You just sit down behind the keyboard with a wrap of weed between your fingers, typing loads of dogshit in your head.

keymatt:
Using external reserves to defend the naira is the most useless policy ever carried out by a regime. Why float the Naira only to go back defending it only to deplete external reserves in the process You think investors will invest in an economy without a robust dollar reserve Keep celebrating audio growth. This policy will backfire before your very eyes.
Your agbadorian regime are full blown INCOMPETENT THIEVES.

You talk like one Abakaliki drop-out, you talk ignorantly, economics is different from selling okrika in traffick.

garykoeman:
Official rate is higher than parallel market.
Can u explain how naira is being defended.

Don't mind them. Most of them are illiterates.

CodeTemplar:
That's what happens when you ignore the foundation of economics - production - and focus on adjusting variables in a bid to spark reaction that can boost indices.

This happened at parallel market not official market. I thought the CBN is defending the naira, then why did it fall at the parralel market after defending it?

This is their mindset, they can't hide it anylonger. Good news is a mental toture to them, the more the good news, the more their brain wants to burst out of their head. Like Ekpa, they've been saying, "wait until next month", "wait until after easter", yet nothing happened, naira keeps raising. Now, it is "wait for next two months". They don't deserve my pity tho, the bad news is that oil price at international market is getting to $100, which is good for our reserves, it will increase their mental lamentations and physical wailings.

jmoore:
Bla bla bla. Tinubulation has already put you guys in a place worse than Kuje.

"dollar will get to 2000" crew. Pained losers.

obi4eze:
Is Binance a Nigerian company?

This question shows how low your I.Q

jmoore:
Babablu bulabu..
Always blaming others for their own woe.

E pain am, you'd soon join the binance saboteur in kuje.

Cardoso really cleaned up the BDC market, he pulled off the unthinkable.

jmoore:
The depreciation was also the fastest under Tinubulation.

Due to activities of enemies like you and binance.

Lawalemi:
After buying Starlink, would I not pay for subscription because I don't know reason for the rush?

If you could afford the kit, why can't you afford subscription?

Biodun556:
If naira closes gap with the dollar, quality of lives of Nigerians will increase

The gap is close, nigerians are greedy.

Lizzysamuel:
Stop saying nonsense.
The government is lying and you want the masses to continue being lied too?
We are paying subsidy and fuel is still over 600.
Must you guys always reason low?

Who is the sole importer of fuel?

Post the old video of Obiawusa swearing on his life to not leave APGA.

Nigerians sha!

Price was down from 700 thousand to 400 thousand, meanwhile greedy Nigerians are busy hiking the price of garri, Lol.

I have never seen someone who abuses the naira more than this guy.

Objectivist04:
That is where Peter Obi is different, despite his beef with Obiano, the issue of probe never came up because there is nothing to probe

In as much as I am not entirely ok with him leadership style, he remains one of the cleanest former governor in this country

We have plenty receipts on this forum since 2013, so, don't whine yourself.

alphaNomega:
this is not positive news. it is like using chewing gum to fix a broken water pipe.

I agreed, use the chewing gum to mend your broken heart.

Validated:
So, what is the usefulness of APC if they will continue what PDP was doing?

Why are you referring us back to PDP?

SeeWahala:
Dollar price was going up, garri price was also going up . . . Nigerians cried and agbad0rians said its due to the dollar , Nigerians closed mouth and continued to suffer.

NOW

Dollar price is coming down BUT SURPRISINGLY the garri price IS STILL GOING UP but guess what? Agbad0rians said that it has ABSOLUTELY NOTHING TO DO with the dollar

Well . . . Nigerians are still in shock

How much dollars do you use to import garri and which country do you import from?

garfield1:
Ok,they are the third largest after HAUSAS and yorubas

Lol. You don't want his wahala.

Feldie:
how is that going to happen? CBN has a clear strategy they are using. If not for laziness, they would have done their research the first time and prevented all that happened. I don't think Naira can collapse again

Cardoso was not yet appointed when the president removed subsidy and floated the naira and everything skyrocketed. There was an acting Governor then. Cardoso should be given his flowers for steadying the ship.

SeeWahala:
I went to market last week Saturday to buy garri, it was N2,500 I bought

I went back to the same store yesterday and the seller told me it is now N3,500

I immediately screamed PROPAGANDAAAAA! and the seller actually called market security to carry me and throway outside her shop

What did I learn? be careful while shouting 'PROPAGANDA' in bewildering confusion at the increasing cost of food while tilumbu's dollar is coming down

From which country are you importing garri with dollars?, maybe i can also place an order.

First of its kind to recognize and honour our gallant police and April 7th declared as National police day.

God bless President Bola Ahmed Tinubu.

socialmediaman:
Source: "trust me"
What economic indicators inform this reasoning: "I know what I'm talking about"
This was also said for the past 8 years: "It's different this time"

Bag of rice is coming down to 65k.

Quest7777:
Tinubu only succeeded in crumbling businesses involved in imports as well as their demand for forex.

How?

richie240:
Propaganda, according to obidients, is any Good news about nigeria.

Tell them something bad about nigeria and they believe 100%. Bad news about nigeria is their truth.

I have never seen a people that represents hate incarnate like those folks.

Finquas:
Pure bare faced shameless propaganda.. the question I ask U proponents of ebin pawa school of hunger is " why is the aggregate prices of goods and services not falling as the dollar is falling to naira Lie can't be sustained for too long..

The price of rice and some other stuffs are coming down, evil hearted wailers.

EmeeNaka:
So PDP is now your yardstick? Thought APC decried their leadership and vowed to do better? APC has failed Nigeria. They're trying to force Nigerians to celebrate mediocrity. 1dollar was 260 naira when Buhari took over. Tinubu met Naira at 400 to a dollar, but now they want us to believe that 1140 naira to a dollar is a great achievement.

Simple logic, if you asked APC to return it to where they met it, did PDP return it to where they met it from the military?

CodeTemplar:
One thing is sure, Nigerians have limited buying power and when speculation becomes so unreal that prices of goods are beyond the majority, demand falls and so does demand for forex. Ultimately, the naira begins to gain value until demand starts pushing it down again.

Your theory is faulty, there's liquidity in the market to take care of demand.

paramakina202:
Get it back to 260 naira where it was before Apc took to 1900 naira in 8 years.

Did PDP leave it at the rate they met it in 1999?.