₦airaland Forum

Akinaukwa:
Not supporting their acts of turning the government into a family affair but it is their time and opportunity. Many of us will do exactly same thing or more if the opportunity comes by.

grandstar:
Wars are very expensive and a billion dollars is small change to wage a war. America spends about $1,000,000 per soldier in Iraq and Afghanistan. America was spending about a $130b in Iraq or so a year and had about 130,000 soldiers stationed there.

Also, about corruption, the senseless pegging of the exchange rate at 197 to a dollar and the eventual massive disparity of the official rate from that of the black market rate was a round trippers dream.

A round tripper is simply someone that buys forex at the overvalued official rate and sells at the black market rate.

At a time, the official rate was 197 and the black market was 300.

As Lamido Sanusi said, people can simply buy $10m at the official rate and sell it at the black market rate and obtain obscene profits

$10m at 197 is 1,970,00,000 while $10m at the black market rate of 300 is 3,000,000,000. When you deduct, there is a gain of N1,030,000,000.

I doubt very much corruption has plunged much though more competent and honest hands are handling some posts. However, corruption is still rife and in many instances- like in round tripping- better dressed