₦airaland Forum

Tap0lane:
It can but do we have a sensible leader or CBN governor that can ensure that ?!

After Binanxe as been exposed as the manipulator with Naira losing over ₦100 daily why as the govt not force it to manipulate back to what it was before it started the manipulation or simple jail every soul attach to Binance in Nigeria to life imprisonment.

Did they not see what the USA senate did to same Binance over there in America where it came from ? Should Nigeria not be more harsh n even more desperate n wicked to punish the bastards running the firms.

Last time it was abokifx now it's binance, after floating the naira to "let the market decide" "the government is now attacking markets like the floating never happened.

If they like let them block the whole internet as long as more people want to leave there will always be demand for foriegn currency over the naira.

lazkizz:
Watch dollars drop to 1k flat rate.


9ja na we dey do ourselves

If you believe this will happen just return your school fees to your parents.

lordm:
lets wait for official announcement sha

BY saying this you've already admitted it's fake news. If this isn't an official document where exactly is it coming from?

lordm:
it works. You people love bad news ehn

A fake website registered in South Africa.

Burob:
Wetin concern you that has no plans & cannot afford to go anywhere?

seunmsg:
Mr. President's effort gradually paying off.

You people are so dumb, did you even try to access the link to the website?

tonicyril:
Why did country like UK, Canada and China banned it??

None of the reasons are due to inflation, you can read instead of being silly. https://www.altfi.com/article/binance-cancels-uk-registration

Will the Nigerian government ban Ghanaians now?

tonicyril:
Ok, but everything either new or old can contribute to inflation sebi u know??

Why then isn't it contributing to inflation in every other country, why is it only NIGERIA?

See he can't even answer, you dullards just use your own hands to kill yourselves but supporting these vampires. They are not the main problem it is YOU

Blacklion3:
Crypto is being used to move funds with less scrutiny. You can't know better than the CBN when it comes to tracking their own money.
Money leaves a trail

How come EFCC has no idea what happens to funds returned to CBN? I am asking you people to please turn on your brains.

Coolestguy2023:
See this illiterate.
Im 100% sure you are one of Obi people. Very delusional set of people

Answer the question how did taking down abokifx reduce inflation.

10 marks.

tonicyril:
Well, ur so called saner climes are not on binance either.....so who is a fuul now between u and the govt??

Inflation did not happen before Binance in Nigeria?

SenecaTheYonger:
It serves you guys right. You had a little bit of control over the exchange rate so you kept increasing it by 99naira everyday just to make small profit. At the expense of 199 million Nigerians.

USDT is not scarce. I’ve never in my life heard of scarcity of USDT. So why did the price keep increasing?

You use Naira to buy USDT. You can never use dollar to buy USDT in Nigeria.

Both Naira and USDT are not scarce, so why the outrageous increase everyday?

You are very dull I swear. Your problem is they were using binance figures to give info about the exchange rate, just dumb no attempt to even understand how any of this works.

Binance doesn't seem to affect any other currencies just naira that is being mismanaged by fools.

The cheapest car there is 9 million, meaning it will take someone on minimum wage 22 years just to buy a used and outdated car.

Luckily for Tinubu supporters it's just 30k

Everyone should be calming down we still have 7 more years of mandate to go.

Chrisrare:
everybody mustn't eat noodles

That's what they said about rice, soon even water they'll say we must not eat.

emkz:
"Went through" is the phrase I used. But in your rush to peddle your hare-brained thinking, you claimed I said binance held $26billion.

Now my bank account analytics tells me I have done transactions worth 6.8 million naira between October 2023 and today. In your hare brain, you'd interpret that to mean that I have 6.8 million naira in my account.

Return your degree to the university that awarded it to you and go and register to become a prostitute.

What source do you have that shows that amount went through binance? That's 11 million dollars every single day for the last 6 years for Nigeria alone. Are you thinking at all?

Phineky:

I wanted to reply him actually but arguing with people like Theunbothered?
Hell no!!

You be mumu normally so you can't even try it. Because you haven't eaten today doesn't mean you must swallow every lie you hear.

emkz:
It was the parallel market that operated without any regulation.

When banks refused to fulfill their fx obligations to customers, they referred customers to the BDCs and until today, there has been no explanation for the spike of dollar exchange rate which happened in the BDCs.

No central bank can afford to lose control of the market. Like I argued, floating the currency is not equivalent to floating the market. You do not trade dollars like you trade guguru and ekpa where all sorts of himan beings access dollars without trace.

Countries like Japan, the US and in the EU where their currencies are floated, BDCs are heavily regulated so that every forex trade can be traced. It was not the case with Nigeria.

Like an economist argued, Nigeria's exports exceeded her imports in the last year, which meant there was supposed to be dollar liquidity in the system. Where are the dollars?

They disappeared through the BDCs.

There is a possibility that more than $100billion cannot be found.

Also recall that Yemi Cardoso said $26billion went through binance without trace. If these things happen in certain countries, people would be quietly assassinated.

There's nothing but air in your skull if you believe binance handheld 26 billion dollars. 100 billion dollars is a QUARTER of Nigeria's entire gdp and you think it's trading though one app that caused the naira to turn to shit.

fuckJones:
Now that the NSA has requested for the list of all the Nigerian users on Binance; heads would roll and cut across! May every saboteur and enemy of Nigeria be pull down on their knees🙏

You people are so dumb I swear

The man needs to be locked up again for marrying the idiot

Religion of peace strikes again

That means a coup is definitely being planned.

ElasmoBranchii:
Why then is the CBN pointing finger at binance as the cause of the volatility in naira and has taken action to block access to their website

Your government is run by thieves who want to distract from their looting. The total amount being traded in Binance is just 2 million dollars the Presidential yacht they wanted to buy was 6 million dollars. Since the naira is floated anyone can set their price so the government is just being manipulative.

SenecaTheYonger:
For something to be valuable, it should have a use. What is the use of USDT outside crypto trading. Compare it with the use of actual USD (oil, exportation, loan, medical, tourism, etc.)

I don’t have any problem with USDT but it should not be used as exchange rate for Nigeria’s economy.

USDT is printed by a random company called Tether, same way you can print meme coins in BNB chain, by imputing a bunch of values and boom. Not saying USDT is from BNB network. It’s from Tether.

But the USD is printed by the United States Department of Treasury and is backed by the US government and military.

The use is transferring and storing money internationally,it is also not the main exchange rate since the naira is floated anyone can trade whatever amount of naira for dollars through any platform.

Try and read instead of coming online to say nonsense.

RepoMan007:
So official market is 80 times bigger than binance, yet people look up to binance for guide.
To cap it off, binance can be easily manipulated.

The naira has been floated, every market is now "official market"

When the head is rotten the body suffers.

I said how about NYSC guys?

She said Youth corpers these Days are so Lazy, Non-Chalant!

I just Remember when I taught as a Youth Corper in 2015,
the Enthusiasm we used to March from our Corper's lodge to the PPA was so Unreal!

We should stop forcing corpers into teaching because we are too greedy to pay proper teachers. Youth corpers are not teachers, they are not qualified to to teach, they are not supposed to be teaching, do the right thing!

MadamExcellency:
Enough of the blame on the election and the consequences.

Abeg, who has a working advice for President Tinubu to implement?

What happened to his master strategy?

Nvestor02:
I don't expect anything better from the enemy of this country that want Tinubu to be borrowing money like previous government And pass the suffering to the next generation.

Tinubu is on the right track... The mumu only love to see failure, they will hate you when you analyze success for them.

Tinubu is going run his govts through internally generated revenue and pass prosperity to the next generation.

Tinubu should please increase the minimum wage and make everybody wake up to the new reality.

Double your hustle to survive, Cost of living in Nigeria is the lowest in West and southern Africa.

Walk around the African continent, check the price of foods there and compare it with how much you buy am for Nigeria, then you will realize that you guys had been lucky since all this while.


Werey people will claimed that shebi Nigeria have Natural resources, we should be feeding fat na.

But won't know that Human resources is far better than Natural resources. Most people are liability to this government.

I pray Tinubu declared more war against Insecurity too .. make citizens survive the cost of living themselves.

You talk about human resources yet the word on the lips of every educated Nigerian is "japa" because their needs are not being met and their concerns are not taken seriously.

Eventually you will learn.

Wawelexy:
Raise funds for her please... Burying that child in your compound might have consequences that may not favour you...

Raise funds for a thief?

Everyone still quoting that 5% figure is mad and an enemy of the people. The total unemployment rate could be as high as 50% but these agents of destruction changed it so anyone working just a few hours a week of irregular jobs is considered "employed".

All of you who supported and continue to support this admin will not die well.

heji:
Tinubu no kill them. Na our dilapidated system inherited by the the present rigime

Who helped get that system into power?

So he has finished wasting Lagos taxpayers money in Grenada? Government work is sweet o!