pocohantas:
I noticed it earlier. Doesn't mean prices of goods would drop immediately. This is for people that want to go fight traders. They already bought at $/1300. They have to sell off.

Part of the reason it was flying up last 2weeks wasn't organic, but due demand. Maybe japarians and definitely people that wanted to convert their Naira savings to dollars. Everybody would rest small now. Some would still buy the dip sha.

Buy the dip and die lol.
Speculation was what was mostly heating up the parallel market.Its a small market that can easily distort when there's a slight increase in demand.
One permanent solution I propose is to criminalise black market activities and sentence its operators to death by lethal injection if found guilty,
That market shouldn't exist outside entry and exit points and should be controlled with limited volumes.
One of the problems of the naira is greed,even though fx supply was dwindling.
As for Nigerian traders,these unscrupulous elements hike prices anyhow and transfer the cost of their greed to consumers, and corporations aren't free from this either.
The only way out is consumer enlightenment and orientation so they know that they must not die untop one brand cos of name,cos I see that Nigerians are very foolish and have a lot of money to do blind brand loyalty.
They deserve all the pain they're getting as a price of their foolishness and we're not stopping to exploit and plunder their resources for this foolishness anytime soon,
They must Learn.
A simple break in supply chain of a known brand shoots prices up 200% by downplayers in the supply chain,corporations see this ,get greedy and now adjust price and maintains it to tap into this consumer largesse even after fixing supply and bastards from hell are still buying though alternatives abound and later the pigs have the guts to scream inflation.
Stupid little goats.
PS:No importer of commodity bought fx at 1300,take this to the bank and you'll get paid,only essential services and commodity people,then hoarders and backlog people that want to cut their losses and move on from Nigeria were the ones buying at that price.
Where trader see money with his N100m capital that he cant even liquidate all at a go to buy fx at over 200% increase?40ft no go full again na and then logistics cost and customs will further plunder his resources,then how much go come be shelf price? They were seriously waiting for interventions or they end the business
That's why customs was crying that goods no dey port to clear the other day cos niggas Don take backseat.

Those waterways in the Bakassi peninsula have always been terrorised by militants who rob and sometimes kill sea travellers.
They're just hungry thieving Minions who now wants to hide under Biafra to make it look like they have affiliations with the terror group to cause confusion and panic.
I just pity them cause the Camerounian BIR in that region will now go on the offensive and smoke them in days and of course,normalcy returns.

Blitzking:
10 billion dollars wey 10 to 20alhajis go tidy 2 sec. We go retun to shortage.

20 alhadjis will mop up 8 trillion abi?
You're out of touch with reality.
The thing you all fail to realise is the parallel market is a very small market, $1B will mop up all their naira but guess what ?
Tinubu no want that market to exist again.
This $10B is to clear backlogs which is what is pressuring the naira,not inflows.
Because some people that have been backlogged for a while might get desperate and look for fx by any means and turn to aboki,further heating the little market up.
NAFEM is enjoying relative stability already,clear backlogs and watch parallel market demand crash and comatose.
Then not to also talk of citizen confidence which clearing backlog will bring, which will also crash speculative demand,further dipping aboki market
Abi una think say na that una $50 una dey buy upandan dey crash naira for aboki?

somehow:


You didn't answer the question.

You said BDC's are not black market operators, so who are the black market operators on the streets?

If you read the article again, it was talking about banning and moving FX related transactions off the street (raw cash) and digitalizing it.

So who are the black market operators hoarding FX on the streets outside the BDC's?

The people you see on the streets trading forex are illegal operators.
I hope you know BDCs have licenses?
Digitalizing fx and removing cash transactions from the streets don't make the BDCs irrelevant as its logistically impossible to have CBN and banks cater for bulk and retail needs.
What now happens is BDCs will now go digital and serve as a bridge between retail transactions and CBN,
And of course physical BDCs will still exist and entry points and high streets,but will no longer be able to trade above some certain volume threshold anymore but simply retail transaction and values.

somehow:


Apart from BDC's, where else do you buy foreign currencies on the streets?

You're not suppose to buy from the street ,except for petty retail transactions which should find its way back to the banking system like its done anywhere else in the world.
Enforce a serious ban on black market operators and the banks and other inflow channels no longer has any reason to speculate/hoard forex because who then do they now sell to illegally at high prices?
It now becomes very available and price stabilises immediately.

VeeVeeMyLuv:

He said he will incorporate BDCs (aka black market) in a warm embrace and give them all the necessary support.

5k loading

BDCs aren't black market operators for your information.

Afromentalist:

Keep educating those fools. How can someone compare Obi's ventures with Tinubu?

obi that inherited $100 millions from his father and has not been able to multiply it by even 2 or 3.

No mind them baba,
Jokers everywhere blinded by hate and tribalism who can't see beyond their noses.

DrAkpamudehe:


StillmaticOG . I greet o.
Btwn #2Billion naira is nothing in today's economy. It's not something you should brag about o.

You no know wetin you dey talk.
Monthly expenses alone for a business of such magnitude,a lot of people don't make it in a year.
Not to talk of manpower it maintains,trains and their growth prospects.
Close your mouth for things you know nothing of.

erico2k2:

Nah you got it wrong, My excess cash just tripled overnight, that's what I send to Nigeria. Saving or Sending money to Nigeria to lodge in the Nigeria Banks would be the silliest thing to do right now so NO you are grossly wrong there.

Saving cash how?
I'm saying completing projects and the likes back home as it's now cheaper for you to do so.

mrvitalis:

Lmaooo NEXT international... This local man things next is a supermarket Lmaooo... I told you.. U know nothing about business

Next is arguably the biggest distribution company in Nigeria... You have never done business na... The dream of every producer in Nigeria is that Next agrees to market your goods... They have links to over 5000 supermarkets tgey supply

Boy you know nothing one of the biggest distributors of Coca-Cola? Indomie, orange drugs? Sole distributor of Budweiser? Trophy beer? Hero? Henz products, Andrea wine? Bros you no nothing

Next is bigger than Tinubu entire business combined even with stolen government funds

Obi bought out fidelity bank... Bros this is not even a competition na

Tinubu no smell obi in any angle

Because they registered a company as NEXT international whose only product is a chain of few retail stores,this naive ignoramus thinks it is bigger than just a failing retail business because they add international put inside business name .
Next isn't a distribution company but a retail store that also sell in bulk,90% of their inventory gotten on credit from local suppliers and guess what,NEXT only do Sales or return with their suppliers meaning they have little to no money in the business asides the structure which was built on credit.
You must be very mad to think NEXT is anything worthy to compare alpha beta,a failed retail chain that Market Square owned by Sundry foods Limited has beaten hands down in PH by all metric,except opening a big shopping floor of course that even struggles with running cost is what this goat is painting as something.
Successful retail chain that do sales or return with suppliers and even sublets floor space to other dealers for rent money is who is doing well abi?mumu
Sundry foods pays you immediately after 30days,whether they sell or not because they're more liquid than failed Next with almost poor turnover.
NEXT don't supply ,they get supplied at their store buy suppliers/distributors on credit and they pay after they sell,if they don't sell,they return your stock.So nobody dreams of doing business with them,rather market square and the likes.
Because petty traders go to their shelves and buy what they retail in their cubicles don't make NEXT a key distributor of any kind.
You're mad if you think Peter Obi is the biggest distributor of Coca cola.
Indomie isn't a company,its a product owned by Dufil prima with indomie being one of its products,with multiple distributors nationwide ,allocated by catchment area.
Budweiser,trophy and Co are owned by International brewery and is even logistically impossible to have a sole distributor for such high volume fmcg products that capitalise on effective distribution and serious turnover to make profits.No brand will even accept you to be a sole distributor for beer in Nigeria.
Heinz products is distributed by FMCL in Nigeria,and is an Indian company,they also do redbull,pringles,etc...and has no business with Peter Obi,so you lie here.
Andre sparkling wine is owned and marketed by Blue Arrow in Nigeria ,who also have no links with Peter Obi,you also lie here.
So you lied about almost everything about Obi,and I keep pointing to you that he's a failure and I don't doubt that.
PS:
You keep saying I don't know anything about business, it might interest you to know that I actually own a very structured distribution business with an annual turnover of N2B with multiple mobile/motorised salesmen and administrative staff,and I built it before 30.
I wonder what a street dog like you know about business that I don't, to even have the effontery to tell me I know nothing about business.
Typical frustrated Biafran scum of the earth.
Peter Obi can't tie Tinubu's shoes in any field,asides talking of course and have hungry tribalistic pigs like you chant about his business prowess that don't exist.

mrvitalis:


At the bolded absolutely his interviews in his car driving himself to work

He interviews his permanent staffs himselfs absolutely

You can only talk about what you know, you can only explain what you have knowledge about

Tinubu as a person built nothing before he joined politics... He was a mere low level auditor at mobile... Same level as accountant level 2 right now they end $85k yearly now... It's a low level job... Tinubu is not in obi class at all he no reach

Obi has created multiple multinational companies, sat on the board of even more .. Obi is a man invited for multiple international business meetings a place were Tinubu can't smell in his personal capacity

Tinubu with his woeful performance has just proven why underground Kings should remain underground

We are all seeing what your Tinubu is doing we are all here seeing it

I'm sure it's you that owns alpha-beta.

Name one multinational company owned by Obi,just one.
Not even multinational sef,one going,profitable concern owned by obi
And I no want hear NEXT cos its neither a profitable business nor a multinational.
We see what ordinary SUNDRY foods dey do them here in PH,their books is a shitshow btw recording losses upon losses.

erico2k2:

No time to give chance ahah well itis favouring us abroad. just so you know 1 pound
is now N1500

It is actually a good thing it is favoring you,so as to attract more diaspora remittances and increase diaspora participation in the local economy.
I'm sure you now cut back some irrelevant expenses to send money home?
Isn't that a good thing?

mrvitalis:

I was ready to debate you... But when you said Tinubu was the best? U mean same man that avoided interviews? Fumbled at any given opportunity


The bolded is typical of your type you project your type how you behave unto others

Oh trust me,I wasn't up for debate with you,
Just wanted to put your emptiness in its rightful place.
Tinubu's personality or charisma shouldn't be a determinant for what he can achieve,
Have you seen Mike Adenuga coming on TV for any bickering or interview before?
Can your empty obi build a tenth of what he's built?
Personalities and character differ and shouldn't be a progress determinant, even though I don't expect you to know this as its clearly above your pay grade.
Real achievers don't need media frenzies, their actions are all that matters.

erico2k2:

Look we should all forget obi ,obj pmb etc. the man on the Hot Seat is Tinibu, he is in charge an head, so he is to blame and he is responsible for anything that goes good or bad simple,,If he knows he cant sort it let him step down for those who feel they can,

Every step Tinubu has taken so far is a step in the right direction with long-term results,
Give the man time.
And as for the depreciation in the parallel market,in time to come all the steps he's taking now will make them obsolete in the Nigerian fx scene.

mrvitalis:

The problem with APC is instead of focusing on promoting export they are focusing on preventing import

That's so 1800s economics

The theory of comparative advantage rules the world

You think China can't farm corn and soy? But import it?
You think China can't farm meats? But import?

You think America can't build chips?

Lmaooo Una go learn

Obi was here giving you guys free knowledge no body took it seriously

What will Obi do differently to boost the so called exports you've been screaming about?
You want to export finished goods and sell to who?What will you or Obi even export?
How long will it take you?
Where will the forex to use to import heavy duty machines your sudden industrialisation projects will need come from if you don't manage imports via substitution?
You think you'll just wake up overnight and start exporting and go and break years of acquired capacity and industry relationships and even lines of credit with giants because one fool who don't even own a viable business is saying so right?
Obi is just a good Orator but a serious dunderhead and calamity that Nigerians chose to pass on and I respect them for that,
Tinubu was the best amongst all three but your hunger driven tribalism and basic depravity can't let you see that because you actually need to be comfortable enough and roll with technocrats and doers to be truly enlightened,which you can't be caught dead in those circles.

emmaodet:


Exactly bro.
Exactly

There are a lot of people and companies that had benefited from government policies etc yet couldn't stand.
The attack on the man Dangote is too much.
There are many student that have access to all waec and jamb past questions, even had private teachers who helped them treat these papers and break it down for them.
Some were even privileged to get area of concentration yet they failed or scored lower than a brilliant chap who also had the opportunity

Definitely,
Most of their rants is coming from tribal sentiments and naivety of the business world.
Bro,if you've started something and is able to grow it,you learn to leverage on your size and economic impact to dictate terms.
Even medium scale traders do this before na Dangote group.
If e easy ,make them too run am,simple.

Basicend:


Not baseless in any way.

Every non-sentimental observer knows that Dangote's exceptional height in the Nigerian business space was based on biased governmental priviledges and not business ingenuity. He has been very close to power-players for many years. .

Yes, tax waivers and COT concessions can be granted to any viable business concern but do you know how many (synergies) have tried to invest in Cement industry and were frustrated by so called governmental policies?

Even the refinery thing, are you telling me that we don't have indigenous and (DFI) direct foreign investors that have wanted to float a viable oil refinery in Nigeria?

Did you skip the dollar cornering thing? Do.you know how many times the CBN (Emefiele-governed) had borrowed monies from foreign windows and Nigeria payed back the interests, just becoz Dangote needed to complete a core project?

To say that Dangote did not benefit from unfair governmental or political leverages is valid sir.

Nigeria is not what you think.

There's been way more people that have been favoured by government in their capacities and they all failed.
FG is having tough time retrieving debts from NIRSAL,BOI,etc..beneficiaries ,why is that so?
Look,every big business at one point or the other is favoured somehow by somebody, doesn't make the beneficiary's efforts useless.And I'm not even admitting to Dangote being a beneficiary to any government support.
What synergies?Every government has basic requirements for all its sectors,if you want to play in that space,meet the REQUIREMENTS.
Nobody is frustrating or witchhunting you,there's over 5 to 6 solid players in cement as we speak so Where's the monopoly.
As for refinery,no one wanted to invest in it after holding refining licenses for many years for reasons known to them,now Dangote has taken the risk and you're shouting monopoly.

Did you expect Dangote group to source it's forex from the parallel market?Is he a spare parts dealer or what?

If you work hard enough,you'll also be a beneficiary to government waivers,
Innoson too has been enjoying government patronage for his vehicles because he creates significant value.

Basicend:
I have said this before and some clowns here were countering me.

Dangote will not at all have it rosy with Tinubu. I can say that again.

That refinery in Lagos was a Buhari and cohorts initiative. He cornered most of the FX in the country via Buhari and Emefiele approval. . His exchange rate often was even less than official rate. .

He can't survive now coz Tinubu will tackle him. . He, Tinubu is not in the caliphate caucus.

He had Tax waivers, COT waivers in most of his accts and was granted strange monopoly to milk Nigeria in some sectors. . He wont get those latitudes from Tinubu. .

Dangote was fronting for the power players in the north. He is one of the major reasons Nigeria has been destroyed to this measure.

Even BUA is breaking his spine in the cement industry now. . And other matters will begin to rise against him.

Tinubu gave him land to build in Lagos after he was denied land in Ondo .Why will Tinubu tackle something he is one of the brainchild and even lobbied dangote to come to lagos?

When you have a big business ,you can negotiate for Tax waivers with government,negotiate interest rates with banks and COT(I also pay zero COT in my business and nowhere near dangote),
Name one monopoly Dangote have.

You can't prove Dangote have any political affiliation,so I'll take this as beer parlour talk.

Dangote has a production capacity of 35MMTPA,BUA is yet to reach 17MMTA...So how can BUA break dangote's back in the cement industry?
Do you now see how baseless your accusations sound?

crossfm:
Hehehe.

The poor masses pay more in Nigeria,what an irony .

The market women are been taxed daily, driver and artisans are not left out.

Not only are they been taxed,but in most cases multiple taxes.

Let the poor breath indeed.

If Dangote shuts down just one of his plants in Nigeria, Can the poor or the market woman/women employ all of that Labour force that'll become jobless and add to Nigeria's burden or the forex crises it'll cause?
Doesn't he deserve more incentives than the poor?

ednut1:
airlines, institutional investors, importers of pharmaceuticals and other essential goods. Etc. are you fine now

So its airlines, FPIs, pharmaceuticals and finished essential products that own the $10B worth of backlogs CBN is trying to clear right?
Total FPI inflow since this year is just about $300m ,just to give you a little insight...

ednut1:
and who told you everyone sources FX from Cbn. How are importers of spare parts, electronics or even frozen food doing it 😒

You said manufacturing is dead in Nigeria,that everyone in the sector is leaving.
That's why I asked you who the CBN is trying to clear their backlog of FX demand?
I have no business with traders importing with medium scale capital as it's an almost insignificant segment of that market,even though their costings rapidly affect shelf prices of some items,but overall insignificant.

ednut1:
many manufacturing companies in Nigeria have packed up their machinery. They simply import and rebag

Many?
Then who are those having all the backlogs of fx the CBN is trying to clear?
Rebaggers or 40ft container traders?

ednut1:
Exchange rate will only get worse . Point 5 is nothing but a lie. Why will i import inputs then come face high cost of power, bad roads for logistics etc. i will simply import the finished goods which will kill local production

You already have machinery, structure on ground.
You just don't up and leave.

DonroxyII:
You Fvcked Up Bro!

You are Tapping a Smallie & You expect her not to come to you with her worries .... ... Where would she go ... N6500 No be N65000 nor N650,000 Not Even N6.5M ..... Agbaya ni e

When You Molest All of them Finish & Fvcked-Messed with their Brain Scatter Na same Una Go still Complain say "Nigerian Girls are Useless as If No be Una Useless Them" .....

Now, Na One Dude Wey No sabi Things go carry her package with her fvcked-Up Head only for her to Fvcked Him Up as Reprisal Attack against Your Fvck-Up ....

Take care of the Carrier of ya Pvssy Bro ... if you want real Game, Then Date Up Leave smallie for her mate ... She was with You because she believe you can help her solve 1 or 2 Things ...

Elepon Rubberlie

Because I say smallie don't mean she's a minor,I'm legally allowed to f her as I please cos she ain't no minor.
If you noticed,I said smally I am tapping and not dating,because I can't even date her.
I got disappointed by her for asking me of 6500 because I feel I shouldn't have anything to do with girls like her,reason I blocked her.
And yes,I date up.

You just don't chose a life partner because of superficial reasons,
You also pick a soldier like you who can carry on from where you stopped in case of any surprises.
Imagine this ffs!After toiling hard for years to build your life,you then die and some hungry looking scallywags come to your house and making peasantry offers like they're doing to some hoodlums just to chase clout.
I know whoever I'll marry will walk all of them out with their nonsense, do your condolence and leave and don't try rubbish in my house.
Na so one clown smally yesterday weh I dey try reason come dey text me say she need N6500 wtf!!
I just block am,I've got no business dealing with ladies that need 6500 at this point in my life,even though na small girl sha weh I just want dey tap by the side but still...All these loser girls that can't survive without man,tueh!

This happened in Germany,
So this white fucking toilet cleaner in Frankfurt airport was cleaning the toilet after every user that was on the queue(travellers will know how airport toilets have so much traffic),
Got to my turn,she didn't clean after the guy before me so that I'll use a dirty toilet(afterall I'm African),
I went in ,emptied all I had in my guts since i just finished smoking and didn't flush so that she'll come and clean the real deal after me lol.
As I dey commot,see person carry mop the pursue me lol,I ignore am waka go my way.
Make she go wash my big black shit,Idiot.

It's very hard to be Tinubu right now,everything seem to be falling apart.
But I know for sure we'd have a currency rebound soon,Nigeria is too robust and too needed to be allowed to fail in the grand scheme of things.

Gerrard59:


The poverty situation in Nigeria made it so. In prosperous countries where work plenty, the ladies don't exhibit such traits, at least in most of their lives.

I've been to a lot of places and trust me,it's a pattern.
You are saying work plenty, you think nursing ,care,warehouse,dental assistant,cubicle wonder and some basic skilled jobs are considered good jobs in those countries brackets?
A lot of women you've met there are just getting by hence has no reason to be arrogant.
Try and date the ones untop of their corporate game and come back.
Dey play.
Except the ones that are from very wealthy families and have had it soft from birth,you're likely to find similar behaviours to their naija counterparts.

Ibechris2:
Some are already angry be ause they married reckless poverty stricken liabilities.

No apology to that. This nairaland wey tribalist fool. Even if u write something wey make sense,if ur name no conform to their tribe,they will start talking like drunkards and even abusing u.

Whether they like it or not, there is no gain in marrying a liability.
It is simply a drawback.

Because you're still in survival mode,that's why you trade femininity for earning potential for fear of the unknown and expenses and livelihood support in the home.
When you get sure of your stand,you won't say this anymore ..
Survival race makes compromising situations look like prizes.

Gerrard59:
Well, as a hustling dude, I agree with that. However, as a made man, go for the lady without anything yet to her profile.

That is what Seatrade said o, not me. I am only spreading his gospel.

Its true.
There's many advantages and sweetness in marrying a woman that's a woman,not the ones that survival has made them become men!
Most ladies that are earning well have lost touch with their femininity which is what a man looks for in a woman,amongst other attributes.
This is why it's very hard to stay in longterm relationships with such women unless you bring yourself very low in you're in similar income brackets or you're way way higher than her in the food chain,which subconciously command her respect.
But then again,if you've attained such level,what are you doing with her in the first place?
Working women are for struggling men,Period.

Chief,creation of enterprise should be on you and not your wife,there's just a few women who can truly develop and run a profitable enterprise.
Let her chose her path according to what she can handle so she don't end up losing all at the end of the day.
No dey put woman prospect in your growth plans,it hardly ends well.