₦airaland Forum

motymop:
anything online can be manipulated.

USDT isnt legally approved in Nigeria and many jurisdictions do not recognize usdt or any stable coin because, it is not real dollar

Binance is a market maker so they provide liquidity that also means that can manipulate price to attract people to their p2p platform.

USDT is digital currency but it is back up by real dollars.

It is just like the money in your bank app and wallet, it is not real money but it is back up by real naira in your bank's vault.

Keep playing ostrich and run away from the real problems.

The real problem is CBN or banks in Nigeria can't satisfy the demand for USD in Nigeria.

So of course people will look for alternatives elsewhere even if it expensive or illegal.

If tomorrow no filling station sell petrol in Nigeria or they can no longer satisfy the demand for petrol do you think Nigerians that seriously need fuel for business wouldn't source for it elsewhere either by crook or hook even if it is very expensive and transfer the cost to customers and consumers?

You guys keep blaming everyone for your failure to satisfy the demands for USD in Nigeria.

with the way we depend on imported goods in Nigeria and our politicians packing every available usd into their pockets with ridiculous amount of naira that they printed and looted usdt is still undervalue.

Politicians are the one destroying this country but keep running away from the real problems, the people that will genuinely need the dollars for business wouldn't be able to get it but you say they must leave their business to die and put up with every bullshits from CBN.

motymop:
anything online can be manipulated.

USDT isnt legally approved in Nigeria and many jurisdictions do not recognize usdt or any stable coin because, it is not real dollar

Binance is a market market so they provide liquidity that also means that can manipulate price to attract people to their p2p platform.

As long as there are people willing to buy at the price it is listed, It is not manipulation the demand is just too high that people are willing to buy at that price, if people are not buying at the price listed the price would be forced to drop.

Do you think people are stupid?

If people can easily walk into any banks in Nigeria or online and secure Dollar at the official rate for their business transactions you think they would be patronizing Binance and other black market dealers ? but the dollar is just too scarce that it is not really available, if you call that manipulation then you are stupid.

What you guys want to do is kill other alternatives sources of getting dollar, with CBN and banks having absolute monopoly and tolerating whatever is dish out but usd is not a Nigeria currency and CBN can't have the absolute monopoly over it.

jeejo:
I understand that what I am about to explain will earn me insults from a selected few individuals because the same culprits are active here on Nairaland, so I am ready for that as well.

If you go to Binance P2P, there is a heavy manipulation going on there, and from my deductions, most of the big Binance P2P Merchants are united in carrying out this manipulation. Some of them even have over 2 Million dollars worth of USDT in their Binance P2P Funding which begs the question whether these people are truly Nigerians or probably foreigners making money from destroying the Nigerian economy.

Many people might not understand the strategy these merchants use, therefore, I will try to break it down.

This is how the manipulation works:

1. Lets assume that the Naira to Dollar is currently exchanging at the Parallel market for 1,500 Naira. On Binance P2P, the group of Merchants will create multiple fake ads claiming that they will buy your USDT for 1,700 Naira(way above the parallel market price). I call these ads "fake" because they will set a minimum limit above 5Million naira, which means if you want to sell your USDT to them at this exorbitant rate that they created, you must be selling a usdt value worth over 5Million Naira at once. This strategy works in filtering out majority of average Nigerians that want to sell their USDT to these Merchants. Meaning these fake ads will remain at the top of the p2p "sell" section for as long as these group of Merchants want it to remain. And if by chance someone who has enough USDT to meet the minimum limit decides to sell to these merchants, they will simply cancel the trade, and create another ad.

2. Now because these group of merchants have filled the P2P "sell" section with these fake ads claiming to buy your USDT at an exorbitant rate of 1,700 NGN, they have automatically shifted the P2P price of Naira to USD to 1,700 Naira, and now they will be selling their USDT to the public under the "buy" section above 1,700 Naira. Now - unlike the fake ads they created with a minimum limit that is above 5Million Naira to discourage sellers for selling to them at this high rate - when they are selling their USDT at this already manipulated price, you will find limit as low as 4,000 Naira because they want to sell to the Public at the exorbitant price they created.

Binance P2P is the new AbokiFx where BDC operators get their current price of Dollar from. The fake price originating from there is in turn used by the BDC operators to set their Dollar selling prices even without any corresponding demand. But the interesting part is that these BDC operators won't buy from you at any rate close to the exorbitant price they are selling the dollar to you.
Here in Benin city, even though the parallel market price of Naira is above 1,600 Naira, the Abokis hardly buy your dollar for above 1,500 Naira but they will sell to you only above 1,700 Naira.

Some people might argue that if Binance is to blame, how come the official exchange rate is now above 1,500NGN to 1 USD? The answer to that is simple. Each time the rate in the Parallel market moves up, the CBN is forced to also adjust official rates upwards in order to close the gap between both windows or else the black market rate will be too wide that it will create an irresistible opportunity for round-tripping.

There is a huge rot in the entire BDC system in Nigeria that I don't think this CBN governor has any idea how deep it really goes.


Update: It appears the Nairaland moderators in business section do not like this post because they banned my alternate Moniker for 4 days after making this post there.

You are spreading misinformation

Selling is all always cheaper than buying when it come to P2P in all platforms.

The minimum trade amount for both buy and sell is 4000 naira in Binance.

Everything still follow the law of supply and demand, If there are nobody buying usdt in the price listed for it on Binance the price would drop.

But the problem is demand for usdt is very high which mean it is not really manipulation but the true value of usdt, even If CBN banned Binance there are so many Platforms with P2P like Binance unless CBN banned Crypto currency again which it didn't even work in the past.

CBN can just make dollar sufficient in the official window at a cheaper rate to discourage people from going to Binance to secure usdt as whatever rate is there, but it is easier said than done.

Difrent:
Its a known fact now...... He was fathered by an igboman.
Though most igbos believed yorubas to be betrayal by supporting BAT in 2023 after Obj did 8 years and PYO did 8 years as Vp.... most yorubas don't consider Obj government a yoruba government which is why yorubas clamoured for BAT.
He didn't complete any major infrastructure project in SW for 8 years ..not even the Lagos Abeokuta road that will take him home . Up till not the Ibadan Ilorin road he awarded is not complete
He did some coded things for his igbo brethren when he was president and people knew.

You listed why Yoruba disown Obasanjo yourself and your people still keep asking stupid questions why Yorubas hate him.

If Peter Obi became President in the future and he didn't build anything tangible in the East after he spent 8 years as president so Igbo wouldn't disown him? even Igbo politicians that romance with the north or APC are being call all sort of name by Igbo.

Obasanjo is a full fledged Yoruba man from Owu all the Igbo noise is just propaganda.

AllenSpencer:
Where are the Team Russia and China?

Let’s call a spade a spade. America and Europe own the soul and body of Africa.

We can practically achieve nothing without them.

We only boast about breaking away, forgetting that, we are already entangle beyond redemption.

My utterances might be blunt and unpatriotic, but sometimes, someone has to say the truth.

Africa is madly inlove with her number one enemy.

So you think it is Russia and China that meant well for Africa, so delusional. I don't think Putin that silenced every opposition and want to annex every neighboring countries to restore soviet empire is still in touch with humanity to have any sensible dealings with.

Putin may wake up tomorrow and decide to turn Nigeria to a big farm lol.

BigIyanga:
A biz front owned by rich oligarchs like Otedola, Elumelu, Dangote, Wale Tinubi etc with politrickians .. normal
Normal Naija runs of fattening the ultra wealthy… while starving the poor. FG provided 25% loan and guarantees the loan 100%… and tomorrow, they’ll tell you that to subsidize power is milking the govt dry 😂😂

The wealthy get it by hook or crook all over the world.

You want to use 24/7 power and want the government to keep subsidizing power

The remaining 75% is part of the debt Nigeria have to repay in the future plus the money for subsidizing power while revenue from Crude Oil that's Nigeria cash cow decrease. If you have sense you will know that it is just a matter of time before it dry up when debts and subsidy in power, fuel , education etc piled up.

Kepukepu:
When GEJ, if there were a prominent Yoruba contesting, you would have voted Yoruba agenda.
When Tinubu asked you to ditch GEJ for Buhari, you did.

All these still points to the OP. Almost everytime, Yorubas will vote wrongly

Your generation is just delusional

You think somehow you voted right when it could have been worse under whoever you voted for.


Your lamentation is just typical excuse of losers, Dollar could have been over 3k under Obi and Nigeria might have even collapsed under Atiku and GEJ just because you lost doesn't really mean you made the right decision.

You think electing Atiku, GEJ and Obi could have miraculously changed Nigeria but it may even be that Nigeria dodged bullets.

Nigerian politicians are all the same and the system is just too corrupt for a single man to do so much. You will wait long if you really believe a single man can change Nigeria easily.

Yoruba is the most successful folks in Nigeria and outside Nigeria but some barbarians are insulting us because of Tinubu.

Kepukepu:
Yorubas always vote Yoruba agenda. There's never been a time you see the results coming out of the west to be majority about competence. It's always an agenda type of voting.

It's the truth. Couple of Yorubas had won election in the east, no Igbo person has ever won the west. Guess who's voting along tribal lines

Shut up lol

I guess GEJ that majority of Yoruba voted for during his first term was a Yoruba man too.

If it was really about competence, Peter Obi the agulu fraud wouldn't secure 95% of south east votes, Ngige performed better than him in Anambra in all sectors but sure let's pretend it is not about Igbo being so desperate to produce a president.

hammer567:
IF U KNOW ANY OTHER FATHER OBJ HAVE ASIDE IGWE ONYEJEKWE.


WHICH YORUBA DEY ANSWER OBASANJO, U DON HEAR THAT NAME BEFORE?



OBA/IGWE THE SANJO IS CONRUPTION OF SANGO.

If you don't understand Yoruba ask questions instead of displaying your stupidity

Sanjo means to Repay goodness in Yoruba.

Obasanjo mean "king repay goodness" not Sango that's entirely different.

Kepukepu:
It does make sense that people who have been accustomed to a certain type of system might be more likely to support leaders who reflect those values, even if they are not good for them. There's a concept called "path dependence" that refers to how the choices we make in the present are shaped by the choices we made in the past. So, in a country that has recently transitioned from monarchy to democracy, it's possible that the effects of that historical system are still present in the culture and may influence people's political decisions.

Yorubas and Hausa had organized monarchical systems where they paid homage to a single strong leader called Oba or Emir, this influences their political choices as well. They always see a reason to depend on someone who takes the position of what the Obas and Emirs were in this current dispensation, irrespective of whether the person is capable or not. They always want to be led and to have someone they can call their leader. So it does not matter if the person is competent, they will follow him. It's in tune with their culture
This mentality is more pronounced with the hausas than with the Yorubas because the Yorubas re more liberal and has accepted western education more, however this cultural trait is still there in both tribes.

So Yorubas and Hausas are more likely to obey a leader who can enforce himself and create the image of protecting their cultural heritage than someone from the east or southsouth. It's in their culture to worship humans like demigods.
It's the way many Yorubas perceive Tinubu, Awolowo and Abiola and how most northerners perceive Buhari.

It's hard for someone to attain the status of a demigod in the east even Ojukwu who led the Biafran war did not win any state during elections in the east. Peter Obi is getting popular because of his competence and how he sold himself (most Tinubu supporters will argue this).

Imagine this retard that majority of his generation voted his tribal man accusing Yoruba of tribalism.

You guys are pushing your propaganda too far, Tinubu only secured 65% of south west votes with many Yoruba voting for Peter obi while Peter Obi got 95% of East votes.
How did Peter Obi secured 95% of East votes if you didn't see him as emperor ? but it is Tinubu that barely got 65% of SW votes that his people see as the emperor he even lost Osun and Lagos state.

You clearly don't know what you are saying, Tinubu would have trashed Obi with at least 10 million votes if South west see him as you portrayed and there's no way he would have lost Lagos and Osun state.

You are just projecting what you are on others, you are the real tribalists. It's not guaranteed that Peter Obi would even be able to perform better than Tinubu if he was the one there, naira might be over 3k by now if it was Obi in charge.

I will see your wailing if somehow Tomorrow Tinubu policies started yielding fruit and the economy change. Hope all you delusional folks will eat your vomit.

gratiaeo:
Obasanjo knows Yoruba limitation that is why he did not allow them near his economic team.
Buhari used them as his economic team they failed woefully
Tinubu the same

South West still have the best economy in this country.

We are facing the consequences for the mismanagement of Igbo that headed our economic team for years.

Look at you all wailing as if Nigeria woes started only when Tinubu took over, Nigeria have been a very poor country where majority survive on a dollar per day even at the time of stupid Obasanjo you mentioned, Igbo have never really managed our economy good.

There's a reason you can not see an Igbo successful businessman outside Nigeria, they can't thrive without fraud.

Authoreety:
It's not migration ... They have conquered and own that territory....

Oya,Use kerosene to fry stone

South East is the only conquered region in Nigeria.

I like the game Igbo people are playing lol

Tinubu government shouldn't be a reason for all Igbo to be attacking and insulting Yoruba online, Tinubu only got 65% of south west votes while Peter Obi secured almost 95% of East votes.

There's no guarantee Peter Obi wouldn't face the same issues as Tinubu and implement the same ideas.

The kind of toxic politics where they insult and attack the tribe of the president in government at every chance is going to backfire on them at last. Insult Yoruba people very well you better pray an Igbo man don't ever get there, we will remind you.

He just want the clout

Nigerian artists usually say jargons like this when their career is dying and they want to resuscitate it by force.

chidiokay:
I dunno why you feel your Perception should anchor as "Standard" ... and if you are not being an hypocrite you talk more with men even on NL than women, how much more in your reality

Women are there own worst enemies is a " platitude" that stands 90% and from a holistic view males make better supportive friends to females more, of which you poco are a beneficiary make i no just dey open ur yansh for here

check out all the female entertainers who supported them, since Tiwa savage, Teni, toke makinwa rise how many female have they pulled up, forget age nothing is wrong with a female keeping a male friends boundaries lo maa judge

There is no problem as long as you wouldn't get jealous and throw tantrum over your guy having several females around he call friends, boundaries lo maa judge or else it would make you an hypocrite.

two can always play the game, it is fun toying around a little like that with a woman that keep a lot of male friends before discharging her.

You don't understand men as much as we understand ourselves.

99% of men wouldn't really resist the urge to fvck their women friends when there's the opportunity and right circumstances, in fact a lot of men that are friends with women are still waiting for that opportunity unless the woman is really very ugly.

It is also just plain disrespectful if you wouldn't tolerate the man having women friends you shouldn't also be having any male friends unless you want to make the man the bitch in the relationship.

Jewessgratitud3:
The problem with you men is.... When someone raises an important issue bothering on your weakness, you take offense and try to be unecessarily defensive. She made some valid points there which I expected you to pick and work on but no... Every little thing bruises your ego.

One important one she failed to mention is the tendency to rape. Yes. When you stay for too long as a bachelor, little girls will no longer be safe around you because you can just grab any available one when the thing hold you as no wife or regular girlfriend to sort you out

Please, you men should pick the sensible points she made and run with it.

How much do they collect at the brothel ? it is currently 1400 in my area per round lol.

Getting married for sex is stupidity because there are better and cheaper alternatives without all the headache.

JeffArmani234:
My fiancée told me that every time we had misunderstanding, she used to think she made a mistake by not following the other man she doesn’t love to travel abroad, she says at least she would be sending money back home to take care of her family (brothers, father and co) sometimes I think about it and feel she’s just thinking of how to better her family’s life and I feel like it’s not a good sign for a good companion
What do you guys think?

Whatever your gut is telling you is right.

It is even disrespectful letting you know that, she feel like she is doing you a favour for being with you.

She is clearly telling you that she is heartbroken by the the man she value more than you for not taking her with him.

Don't believe whatever come out from the mouth of a woman they can lie shamelessly to make you believe something that isn't true and manipulate you with it, i can bet that it was the man that dumped her and just wouldn't take her with him and she is still heartbroken about it, her choosing you over him is a lie. Women easily manipulate men with words and stories like this and you will really believe it because you also want it to be true and because of the emotions involve, the funniest thing is that everything about the story might not be true at all it could just be her pure fantasy.

Now you will be trying your best and the rest of your life not to disappoint her because of a story that might be a lie, you shouldn't even know about about other men if she really respect you.

Since your gut is telling you something is wrong and you feel you don't have her 100% then whatever you feel is right. A woman that is genuinely with you wouldn't ever make you feel that confusion, i can bet she will dump you without question if she see a man with even a twinkling more value than you that's serious with her.

XerXers:

Teaching Igbos a lesson

Everything doesn't revolve around you still pain about Election lost, the economy failure if Nigeria don't diversify from crude oil predicted since the time of GEJ is finally here even if your Peter Obi was the one there he would be forced to face the same issues and implement the same policies.

Anambra1stSonTV:
Imagine your source, this National bureau of statistics

Statistics of admissions into Nigeria degree awarding institutions by states of origin from 2013-2015 published by NBS

Top six on the table from 2013-2015

Anambra state 49,137

Delta state 47,942

Oyo state 44,351

Edo state 42,802

Osun state 40,249

Enugu state 38,978


http://www.google.com.ng/search?q=Social+statistics+report+2016+by+Nigeria+Bureau+of+statistics&oq=Social+statistics+report+2016+by+Nigeria+Bureau+of+statistics&aqs=mobile-gws-lite..

My source is Jamb, You can google search JAMB registration for the past years now by state of Origin and see who have the highest registration.

as for your statistics did Education started in Nigeria from 2011 to 2015 lol? even in this your top 6 states, it tell nothing. The number is almost the same and you wouldn't even know who truly have higher number unless you include other South east and south west states on the list. Anambra and Enugu might be top 6 on the list while other states from southwest might have higher numbers than the rest of the South East state on the list, so this your statistics is just an ass pull that tell nothing.

You guys think having top numbers for a few years is enough to erase decades of Yoruba lead lol.

ddippset:
She is not a girlfriend or side chic.

She is the mother of his kids.

90 percent of the people dissing people on the net for being simps are infact real life simps themselves.

Aye aye you can continue simping away no one is stopping you.

Nigercity:
Check the thread
You are the one

Running around crying 😂
He showed you stat
You claimed it's only covers 5 years
Yet you couldn't show your own stat,

You spoke about transportation,
You couldn't even mentioned any known land transportation company own by a Yoruba man
You think say nah Uber competition 😂

Fun facts: 80% of your people traveling to north/east or south
Normally uses igbo owed transport companies
All those ECOWAS buses you see in mazamaza traveling to west African countries
Are all Igbo owned registered companies

In health
You mentioned uni Ibadan teaching hospital 😂
That old poultry
You no just rate us
Meanwhile in Anambra and IMO
Catholics And Anglicans different diocese have been competing of who would have the best hospitals and schools in each community, let's not talk about our diasporas that competiting with hospitals and hotels,
Check the recent one super eagles player emenike recently built in owerri

Keep crying
The thread was about Anambra
But you carried your insecured self and started doing dick measuring contest up and dan even when you where not invited
Continue

You are the one crying ironically. Just parroting the same bullshits

States in South West have been dominating highest JAMB registration for years and i'm sure you know what it mean when it come to admission too, there's a reason why you can't parrot anything more than 2011 to 2015, it is because you have been relegated lol.

You are really dull for calling UCH a poultry, if the picture Anambra 1st son uploaded was really the picture of Nnamdi Azikiwe Teaching hospital then it is really the poultry here, i just don't want to waste more energy on that clownish act of his abi how does a picture of an hospital in Anambra proved Igbo dominate health sector ? if you can't even see how stupid that really look then you are also a clown lol

To a woman there's nothing like love lol only benefits and what they can gain.

This should be a lesson for those Stupid simps that think if they worship pvssy or prove their love in every way to a woman she will love them back. It just doesn't work that way, this creature are configure different.

Anambra is more chaotic and crazy than Lagos State even with less population.

Nigercity:
Omo
You don win this guys
Today


They other guy was busy spewing trash of things he didn't know
Imagine saying Yoruba have more indeginous industries than igbos,
And he even moved to health and education
Metioning UITH
place wey done cast since 1960

This people know how to lie to them self and believe it
Without even traveling

Keep masturbating yourself lol

How did he win ? he uploaded pictures of Nnamdi Azikiwe so does that now mean no hospital in south west ? or how did it prove Igbo dominate health ? Just a clownish act.

He pulled out articles talking about Igbo states topping admission from 2011 - 2015, so what about before 2011-2015 or education started in Nigeria in 2011. I'm sure if they were also topping before that it would be mentioned, you are delusional if you think topping for 5 years is enough to erased decades of Yoruba lead lol

I

Anambra1stSonTV:
Nnamdi Azikiwe Teaching hospital Nnewi

So how is the picture of Nnamdi Azikiwe mean you dominate heath sector in Nigeria ?

is it the only hospital in Nigeria ?

You can not even match heath centre in Lagos but somehow your clown self think you dominate health in Nigeria lol.

Anambra1stSonTV:
Law admission

So education started in Nigeria from 2011 - 2015 ? lol

what about the years before 2011 - 2015 it's irrelevant because you didn't top lol,

from 2000 - 2010 it must have been dominated by South west states and you guys think just 5 years of performing well must have erased almost 10 years of south west performance lol. Typical of you guys