₦airaland Forum

that's the best CBN can do and I am not surprised they are doing just that.

they can't produce more dollars and if they produce more naira, the problem will worsen.

it is time we ask ourselves real questions about how to earn dollar and forex generally.

real witches willfully transform, fly, project and oppress others.

who wouldn't?

you can earn peanuts there and do real stuff here still. imagine erecting mansions while doing a low paying job in your japa destination.

just know Kano to Lagos is about 16hr journey. the cos of transporting food is high and that's what eats profit.

hmmm.... go and farm dude.

aboki and illiteracy. why not demand palm wine and kolanut too?

Iran is now a terrorist haven or should I say nation of refuge.

why should you shut down just because some people said you are responsible?

I suspect the closing of gap between the official and black market rate has killed the business of their collaborators round tripping CBN dollars.

[quote author= post=128223843]In saner climes, when tolls are collected, it is pushed back into the society and use for the betterment of the citizens.

If that is what it will be used for in this part of the world, it is highly welcome
Bit if it is going to be looted (this is what the sane ones among the peope protesting) are really scared of.
The government should let the citizens believe in them
Sanwo-Olu is really trying with infrastructures as we can all see anyways.

God bless Nigeria 🇳🇬[/quote]Trying indeed.

Massiveglory:
Mr bwala is a raw evidence of characterless , classless and worth less young man with no value who can trade anything or anyone to quench their hunger and personal needs.

he traded a serial failure for a kingmaker.

Really. You should have heeded that advise from PDP and remain there.

Edo and Lagos, the remittance capitals of Nigeria. Very soon they will surpass oil revenue.

[quote author= post=128223843]Reading[/quote]You have been preprogrammed from aso rock so stop reading what has no meaning to you.
cc

Tinubulation of Lagos.

Houseontherock1:
What of Naira's downward spiral? Is it also not as bad as they are painting it? Just curious

People that politics have finished their brains. No governance to deliver.

When they have no improvements to offer, propaganda and argumentative monologue become the way out.
Very soon they will tell us Naira situation isn't as bad being reported.

Ogogoro people from top to bottom.

APC and ogogoro media men.

Throwback:
When we are ready, both government and the people, we will detach ourselves from our fascination with the dollar exchange rates.

The fascination isn't optional. As long as local production is weak, importation and forex speculation will abound.

The Naira has fallen yakata-ishly.

Omokri made good points but was too narrow in his illustration and looked like he was out to oppose MTN and Airtel.

OP too made good his point by pointing out the aspect Omokri didn't spell out for Nigerians.

Are you the guy that wants to japa with N5m?


Agric and food. Nigerians eat with 60% of their income. The highest inghe world.

Cool.

Will that bring dollar price down?

N1000 today is like N420 as of November 2023.

Go and buy raw cassava tubers and palm oil. That amount is not so big.

Start business for Naija. Five million now isn't so big again.

Kingsnairaland:
Russia has it own chip factory and hypersonic weapons how come USA can't produce hypersonic weapons

👉👐

The call it sophistry.

grandstar:
You are "correct" about the roundtripping, though the percentage difference is lower today. Tinubu also wants to close it unlike

Soludo introduced the sale of forex to the BDC in order to reduce the differential between the official rate and the parallel market rate. This worked like a gem.

The last time wthis was used, the official rate was 410 while the secondary market rate was 475 ( about15% differential).

Emefiele stopped the sale of forex to the BDC and said all sales henceforth would be done through banks and the Naira promptly dipped to 575.

Why this is so is that it takes week to access cash through Form M. unlike almost immediately through the BDC or black market.

The CBN needs to reintroduce the sale of FX to the BDC's

If sold through BDC then they BDC will have to sell to who CBN anoints for forex and not just anyone otherwise, roundtripping is still alive.

Soludo's approach was like giving security job to a well known thief who everyone notices his movement 24/7.

SoNature:
Hope to see the USD crash in the coming days! If we can flood the market with enough USD, it can even crash to #700 for one USD in the parallel market!

We just don't have smart people in government to maximise our earning potential.

enough you say. Where will it come from?

Chicken change for wines and cigarettes.

Asswipemod:
Oh, does that change the fact that he is in trouble today because he stole trillions upon trillions of the same dollars and even borrowed his friends same? No matter how hard you try to White wash him and discredit the current CBN government, the fact still remains that he is in custody and will go to jail. You people are saboteurs who are upset because Hoebee didn't get the presidency. As long as you continue to play the ethnic card, your region will always amount to nothing.

go and die with your tribal supremacy politics.
Die fast please. Your type is a waste of matter.

grandstar:
The primary cause of the dreadful economy under Buhari was the result of the exchange rate policy he followed.

It obviously does not work and it also fuels roundtripping

Waaooh!
Is the roundtripping tendency gone or reduced now?

If anything, it is more profitable today to simply take dollar at official rate and sell at black market with a whopping N550 gain per dollar. With production going down, expect more manufacturers to be tempted to do just that instead of going through the long process of producing what might not sell.