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Foreigm used 2012 Acura MDX
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Distress Sale
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The best shot for the governor is to look for means and buy upto 4 of the 24 members that initiated his impeachment to his side at whatever cost.

As usual, initial gra gra

Mama to gbasky

Mumu EFCC andmumu damage control, if you had arreseted some people from his apartment would he be courageous to call you out? I am tired of these failed systems.

iammo:
Forex... or Foreign Exchange is the exchange of currency

The world is a global market, no country is truly self sufficient, ..

Trade takes place for century using exchange like trade and Bater, Portuguese, Arabs, Americans and Europeans would sail down to ports of Africa with products they made like gun powder, Matchete, Dagers, Spears, cloths, bags etc to exchange for slaves, skin hide, lots of Agro commodity

There are several trade routes, the trans Atlantic, Trans Saharan, Silk road etc

Soon traders started looking for means of exchange that represented true value accross all trade route, and Gold metal a non corrosive precious metal was used as means of exchange and valuation

Your goods are weighed and quantified, and a certain size of gold is fixed as it's price in every market

After a while Gold became too bulky and pirates began attacking merchant ships with Gold...

A new solution to this is to have a Gold vault, where Gold where stored (Central bank) and the reciept of Golds in the reserves are printed as money legal tender


United States of America has the largest Gold reserve and hence Dollar became very stable and powerful, this made Dollar acceptable to traders accross the world

With the acceptability of Dollars came the crude oil trade era, and Petrol Dollars were used for trade, this even strengthen the demand for Dollars

Now Back to your question

The amount of Dollars we have in our foreign reserves or foreign bank account determines the value of our legal tender which is Naira

The best answer so far! Foreign reserve determines the value of international transaction a country can engage in..
A country depletes his foreign reserve by importation while exportation increases foreign reserves
Countries with significant foreign reserves most times do not make use of it because they are readily self sufficient and the value of their importation is far lesser than what they export. Consequently a country like ours is bound to have a ever reducing foreign reserve until we actualize a new approach that ensures we increase exportation and reduce importation to the barest minimum.

Mumu directive, all checkpoints are authorised but not all legal

Xtopherprince:
Engineers in the house, please how much will it cost me to change the screen of this Lg 43 inches tv.

Oga plan to get another, the cost is always the cost of a new Tv or a little less.

Shame on FG
And everytime their complaint is price of crude and exchange rate, yet the price of diesel keeps dropping?

Happy birthday.

Still avaialable.

Still available

Each day new policy,

Vixlot:
See a humble Governor of Kwara State Sitting at the Back

Ademola Adeleke arrogantly want be in the front

Dont just arrive at a conclusion after reading inconclusive report. The Gov had to leave when there was chaos at the eid praying ground, im sure you wouldnt expect him to join them.

yemobrown:
Someone gave a negative report about the Deputy governor and everyone here have started casting aspersions on the Deputy governor. It's wrong to make judgment without hearing from both sides.

Exactly my thougths, this report could be apolitical, to destroy whatever goodwill the Deputy gov could be enjoying from Akeredolu.

Way to go

Govocrete:
Nonsense. Don't waste your time and data viewing

Saw your warning late, wasted mine it was total nonsense.

Raheeqilmaktoom:
Dem say go school, you say na scam.

What the report is saying in other words is that every asset and income of these two is based on naira, the calculation of their assets by Forbes and Bloomberg however is done in USD - meaning whenever their assets are to be quoted in USD, the value is exchanged with the prevailing naira-dollar rate.

Other words, you have $1000 before 2019 when naira was say 500, this makes the value of your wealth N500,000. Now naira is 1000/$, this makes the value of your $1000 N1,000,000 without you doing anything to increase or decrease it.

Go school.

You are correct in that they are affected because their money is in naira, just as every other business man

But the truth is, they needed more naira to buy the dollars than they always do prior this time, which obviously depleted their naira .

Still available

Politicians using Nigerians to catch cruise as usual, there will be a major shake in DSS soon.

DenreleDave:
Next time if you want to buy any shoe from her again, if you are using 42, tell her 40 or 39 so that she can send ur exact 42 to you

Which kind talk b dis nah abah.

phrancys001:
They deliberately don't charge immediately, then one wonders how SMS of 4 naira accumulated up to 2k a month, that's access bank stealing format.

E tire me o.

Revolution2022:
-750.You are owing 750h.

No, they debited me

Oga o, I cant remember all this procedures happening in 2015 governance is beyond all these funfare nah. Whats baton of service ? Shior

Many times i wonder how this thing is been computed 750 as sms alert does it cover a whole year? Nigerian banks and all its enablers including FG are all rogues killing people's businesses with meaningless deductions

MikeMicheal:
71 million naira and no roof? Omoh!

If roof dey u for buy am?

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chiefolododo:
Buhari would not be happy

Exactly my thougths o