Lots of people believe binance is a fair place to get rate of forex but it turns out there are manipulators on the platform.
They always place large amount of forex for sales at higher rates above market average, something people will see but can may never close a deal with, and then use that leverage to trade smaller amount above market average. Repeat that step and you can send the rates higher than it actually is.

slipperyanus07:
she probably have those ones at home already

yes but N300k isn't without those sounds too good to be true.

Even God acknowledges it.

Plus all the ancient people of the world can't all be ignorant or mistaken at the same time.
In Asia, Australia, Africa, Europe, America. They have it as far back as they can remember their culture.

That's what happens when a trade is oversaturated. Instead of 100 mega stores selling groceries, 1000 road side stalls are, and everyone wants to make enough to cover their needs. They have to hike prices of goods they sell.
The reasonable thing will be for some of the hands doing retailing to move closer to the wholesale and production part of the whole product life cycle.

Instead of risking going into farming and start making reasonable amount of money, they form a union, regulate prices and continue with their lives. The end users suffer the cost.

In another news from LIB thieves now go for food and leave gadgets alone. Akpu banditry was birthed under the so-called builder of our commercial capital.

Armed robbers invaded a woman's house in Mosagar community in Ethiope West Local Government Area of Delta state and stole beverages, raw and cooked food including pots of stew and soup.

Nigerian activist, Comrade Israel Joe, who disclosed this in a Facebook post said the incident happened on Wednesday night, February 28, 2024.

According to Mr. Joe, the robbers didn't take any of her valuables including phones and laptop.

“There was robbery in Mosagar, Delta State yesterday at about 8:13pm. The robbers broke into the woman's house and ordered her to lie down. It wasn't clear of they were carrying guns but she clearly said three of the boys entered into her house,” he wrote.

They left her phones and her laptop. They dispossessed and emptied her kitchen, carting away with almost half bag of rice, her cooked food, including the soup and stew in her refrigerator.

They packed up a little beverage in her fridge and one of them drank one can coke in her present before they left.

This is where we have gotten to, at the moment, young men robbíng people of their food. As they narrated the ordeal to me, I felt deeply sad.

Any small thing Nukes. How many nukes did the other side use when you invaded? Clown!

wanted222:
its our oil its not your business what we do with it yoruba should face their region hausa should also face their hunger region

thief.

These our leaders have little or nothing to offer. They came to expand their pockets and fulfil their social / career ambitions.

Valuable gift.

Will allow chicken eat it then eat the chicken.

BMC

Mostly obstacles and ingredients.

No bag of rice, beans, flour or big yams there.

I wonder how deposit banks will raise money to pay the increased interests. Workers who are the majority of borrowers can't feed well, so how will they pay back loans if they can even take any?
This is a postponement of the d-day.

That's lot of margin for smugglers to exploit.

Better than nothing.

I will rather dry and grind into powder then raise a chicken I can eat with these or drop them into fishpond to raise fishes I can eat.
Same for lizards and all other inedible rodents or animals around. Even ants too.
Chickens are eco-sysyem food converters.

ERORR404:
Every nonsense has association in Nigeria.. pure water will only be sold for N100 in Abuja,Lagos and other states filled with wicked and greedy opportunists.. pure water is still N10 per piece here in yola Adamawa state and N200 per bag. Are our own producers getting their materials from outer space?

God bless you.
People see inflation as their own time. Forgetting the money most are earning isn't increasing. The thuner that will fire some middlemen is drinking tea from tank and eating vitafoam sized bread.

nwetadinobi042:
So the usual interest payable will still be intact?

I am guessing that not the case. If it is, I don't see how CBN will summon banks to pay more interests to customers and savers when they don't make money for them. No is my answer.

30 unproductive states trying to hide resources and take from fed govt. Why wont the system go down.

Will calling Dapo Abiodun "the short man" go down well with him?

post=128692036:
Anything to move our Darling country forward is all we want at MANNABBQGRlLLS

forward to where the satanists want us?

Lifestyle. Number one money gulper.

Check inflation also. N200k today is like N65k four years ago.

nwetadinobi042:
Does it mean an increase in the normal savings account interest rate per annum in our banks?

I doubt so. If it means increased interests, where will banks suddenly get the extra money to pay that interest from?
The banking sector in Nigeria is unique in the sense that it lends to mostly civil servants whose salary can be easily used to recover the loans. They dont believe in SMEs(and thats for good reasons off course), so how will deposits be used to suddenly generate extra profit from which they will pay higher interest?
The civil servants themselves are finding it hard to feed not to talk of repaying loans or taking new ones.

This whole chess-like move they are making is nothing more than a postponement of the d-day if import substitution is not aggressively pursued.

DeLaRue:
It is a double edge sword.

As CBN rate rises, commercial banks will increase savings/fixed deposit rates, thereby attracting more savers who will be locked into 12 months or more term.

This will indirectly reduce the money available for spending and thus reduce patronage of many goods. As traders and manufacturers wait to exploit consumers with predatory prices, less and less people will buy their goods. As their warehouses pile up with unsold goods, they'll have to reduce prices, thus helping to reduce inflation.

Increasing interest rate will also mean the government can issue bonds at rates that will be attractive to foreign investors. More dollars should flow into the country.

The bad news is:

As Cbn increases interest rate, banks too will increase their lending rate with the likely result that:

1. Many businesses that depend on bank loans will lay off staff or even close down

2. There will be fewer new investments- businesses can't survive on 33% - 35% loan rate

3. More pain for the economy generally.

Unfortunately, with the amount of money printed by Mr Buhari's government, the CBN will have to keep increasing interest rate in order to mop up excess liquidity and control inflation.

Managing a large economy in times of crises is a sophisticated game of chess. For every positive steps, there are multiple potential negative consequences. There are usually no easy solutions.

Unfortunately for politicians, the public want solutions NOW! or they dabaru everything and even call for coup

The public is not interested in, nor do they understand economic theories.

The idea of reduced inflation while valid, is overstated here. Inflation of commodities has two main component. Cost of production and profit margin. You cannot force prices below cost of production and when profit becomes too small, everybody naturally has a breaking point.

As for chain of causes and effects. After the excess money in circulation is trapped as deposits, where does the fund to settle depositors for their accrued interest come from?

That now takes the whole mess being shifted across time into realtime financial sector issues. Banks naturally are wired to go after deposits. They will gladly go for excess cash as deposits. The only way this whole thing makes sense is if CBN is the bank depositors keep money with or if the CBN rates will increase the acrued interest to depositors.

Seun:
Reduction in inflation.

The idea of reduced inflation while valid, is overstated. Inflation of commodities has two main component. Cost of production and profit margin. You cannot force prices below cost of production and when profit becomes too small, everybody naturally has a breaking point.

garriAndsugar:
What about the 8.9m people that voted for tinubu? They should follow him

rigged figure. They can not rig SM followers.

In exchange for what and how much?

Don't tell us you did it for pure passionate politics

The Nairaland and Social Media minister.

iwaeda:


Define fuel in ÑNPCL contest, what else is it into: renewable energy?

Gencos.

Content creators