₦airaland Forum

89green:
No serious Nation will invest in Nigeria at the moment, we need to solve all basic problems - general citizens welfare, security, electricity, naira value etc these are few factors that make investment easy and worthwhile, else we are on 'dey play' level.

Arobaga:
Omo I saw this one Twitter guy shame wan kill me


They don see this idiot in Aso Rock finish

Wale Edun, Nigeria’s Finance Minister and Coordinating Minister of the Economy, says approximately only 5% of people in Nigeria have more than N500,000 in their bank accounts.

The Minister who disclosed this on Friday in an interview on Channels Television, said the Federal Government plans to rectify the economic imbalances that disproportionately favour a small group of elites in the last eight years over the majority of citizens.

The aim of microeconomic reform, he said, is to ensure revenue is directed into the government’s treasury.

His words: “There has been an effort to ensure that the people’s money is not in the hands of a few. And on that point, I must emphasize that when we talk about the last eight years before Mr. President came to power, there was this liquidity built up.”

“The Issue was that the funds were going to a few. Only about 5% of the population have bank accounts that have more than half a million in them. So, the majority was left out for eight years. They are on the sidelines while a small minority enjoyed.”

lexy2014:
how is it by amen?

Governor Dapo Abiodun of Ogun State has announced that the dollar will crash in less than a month.

The governor disclosed this at a stakeholder meeting in Abeokuta.

He said: “I can assure you that the dollar will crash down in less than a month. The meeting we had with the President is very assuring and now we know that there are saboteur in the economy, but their aim will not succeed.

“In light of the current situation, we have made the decision to provide our citizens with essential food items such as rice, garri, and beans. I have arranged for nearly 100 trailers of rice to be delivered, with offloading beginning tomorrow.

“To ensure fair distribution, we have decided that the elderly and vulnerable will receive the rice free of charge, while others will be able to purchase it at the original price before the increase in the value of the dollar. This will allow us to sustain the initiative until the dollar issue is resolved.”

Johnjustice:
Nigerian government must reverse naira floating, it an ill timed policy...it makes no sense to float a currency that can't compete, not in demand, due to our low export to import ratio.

Economics is for the good of man, not just for the theoretics.

Faiththatworks:
I'm sure the people writing this article don't have a binance account,they just come online and report fabricated stories to scare people.

burp18:
There's just too many sides to this
Nigeria imports literally everything and exports nothing.

alanih:
News source

Binance, the World’s biggest cryptocurrency trading platform, has confirmed collaborating with President Bola Tinubu’s administration to block Nigerians from dollar-naira trade on its platform.

Binance disclosed this in an announcement on its “commitment to P2P users in Nigeria” on Tuesday, warning that “users behaving in a manipulative way will be removed from the platform.”“As industry leaders,” Binance said, “We are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.’’

The crypto exchange platform further said it is “setting an upper limit for ads, filtering and removing bad ads, requiring and raising deposits for merchants posting ads as well as processes for actioning against any market manipulators.”

On Tuesday, Binance disabled sell option for its Nigerian users, blocking them from selling fiat currency, USDT, on the platform. It also capped the buy option to $1802 for Nigerian users.

It also disabled purchase of cryptocurrencies via P2P for its Nigerian users, leaving those who might want to sell their crypto assets such as Bitcoin, BNB, Ethereum via P2P stuck.