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Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 9:25pm On May 12
Almunjid:

Are u trying to say that the Bible contradicts itself?
Oga, go and read your Bible, and stop quoting me.
Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 6:27pm On May 12
Almunjid:
Lol, u write full everywhere, yet u no even understand wetin u dey write. Where u learn ur own Christianity from?
Na contradictions wey dey ur comment make me dey qoute u. U said:

You're wrong. Matthew 5:17 says:
Do not think that I have come to abolish the Law or the Prophets. I have not come to abolish them, but to fulfill them.
The same bible said in Hebrews....

Heb.7.11 And finally, if the priesthood of Levi could have achieved God's purposes--and it was that priesthood on which the law was based--why did God need to send a different priest from the line of Melchizedek, instead of from the line of Levi and Aaron? (NLT)

Heb.7.18 Yes, the old requirement about the priesthood was set aside because it was weak and useless. (NLT)

Heb.7.19 the law brought nothing to maturity. Another way--Jesus!-a way that does work, that brings us right into the presence of God, is put in its place. (MSB)
Religion / Re: How Tithe Should Be Shared According To Bible by tundebasic(m): 2:57pm On May 12
gohf:
if you are no the same page like you are saying why not edit your original post


Why haven't you answered what was answered or responded to Hebrew 7
You're spot on. Hebrews 7 has answered the law of tithing. Actually, I think Paul wrote that chapter to address the issue of tithing.sd relating to Christianity.
Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 2:23pm On May 12
michaelbiz:


The work of God needs finance and you are the one God asked to finance it with TITHE?

Where are you people reading in your Bible, I don't understand. Tithes and Offerings (yes both) have been abolished, you know why?

Nobody has the office to collect tithes and offerings.
Read my lips.
NOBODY.

Offerings is a ritual of the old law for different purposes.
Tithes was a command in the old law of a tenth of all your increase.
Take note OLD LAW.

The High Priest was in the office of collecting tithes and offerings in the old law. The law has been fulfilled by the coming of Jesus Christ, whose blood replaced the need to offer God anything in exchange. Jesus OFFERED himself as the ultimate SACRIFICE. He is now the High Priest FOREVER in the order of Melchizedek (that is, having no beginning of days or end of days). Hebrews 6:20

This means, NO OTHER PERSON can collect TITHE. Your pastors and apostles know it. They don't have the authority to collect both "tithes and offerings" because it is no longer a requirement for blessings, remission of sins, protection and so on. And Jesus Christ who is the NEW High Priest DOES NOT require it. So why should anyone collect it? This is why Creflo Dollar and some other pastors came out openly to say the truth about it because it is not possible for a new testament pastor to be in the office of a High Priest.

Go and study the entire Book of Hebrews.

There are only two commands that Jesus Christ gave which fulfils ALL OF THE COMMANDMENTS

Matthew 22:36-40
Galatians 5:14
1. Thou shalt love the Lord thy God....
2. Love your neighbor as yourself.

The rest will sort itself out in those two commands because you will give willingly to help others, not grudgingly. And Christ Himself said, in Matthew 25:40 "And the King shall answer and say unto them, Verily I say unto you, Inasmuch as ye have done it unto one of the least of these my brethren, ye have done it unto me."

May the Holy Spirit grant you understanding.
Wow? You got it.
In fact, I got a new insight about tithe, and it's in Hebrews. I was wondering why pastors keep asking for tithes. It's like they deliberately don't teach the truth about it since it involves money.

1 Like

Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 2:13pm On May 12
Babatwo2:
Tithing is obaying God's commandments, it is not for the pastors to become rich.
Tithing is obeying God's law through the law of Moses enacted for descendants of Levi and Aaron. Not Jesus Christ and gentiles.
Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 2:11pm On May 12
CorperKola:

Are u saying the levites were not allowed to own property
Yes, you didn't read your Bible no?
Levites are not allowed to own properties.
Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 2:09pm On May 12
ttmax09:
You are so wrong, I understand that tithing is not compulsory and cannot take from me or give me salvation, but if I'm been blessed in my local church and I know my pastor is into the ministry full time, why shouldn't I pay my tithe? After all giving is an integral part of our faith.
If tithing is your way of giving, then, it is okay, but you also mentioned that it is not compulsory. So why are pastors hellbent on it? Some even argue that Jesus Christ will not recognize one who does not pay.
Religion / Re: Family Tithing In The Diaspora by tundebasic(m): 2:00pm On May 12
rexbuton:



Not gambling. A bank reward for people with deposits, like a lottery system
There is nothing wrong with your family. Your wife is also not a bad person. She asks you to contribute 50% of whatever she wants to send to her parents.

You can tell her you only have 40% at that point in time. You nor wan send money to your in-laws ni?

About tithing, she's also right. What is family tithing? Even as a family your tithe is 10% of your income, her's is also 10% of her income. If you're tithing it doesn't concern her.

But for your winnings, you can just buy something for her as a gift, but you can use everything for your own projects, or for family project as you like.
Business / Searching For A Business Mentor by tundebasic(m): 4:58pm On May 02
I've looked around for sometime now since I lost my job. Actually, I am seeing businesses around, but the feedbacks I'm getting from business owners show that starting a business in Nigeria today is not as easy as it used to be.

In fact, there was a report that the level of productivity in the country has declined seriously.

I need mentorship to start a business.
The business I'm looking at should have low barrier to entry and low start-up capital.

My aim is to study a physical business that I can learn from a mentor within 1-4 months max.

If you you are a business mentor or would like to mentor me, Iet me know how to get in touch with you.
Crime / Re: Man Allegedly Beats His Girlfriend To Stupor In Delta For Refusing To Abort Baby by tundebasic(m): 10:21am On Apr 22
Family / Re: Why Do Men Do DNA Test ? – Lady Asks by tundebasic(m): 5:51pm On Apr 05
onumadu:


Fair point.
@Bolded: I leave it at that because it answers the question of "what about the innocent child?".
For me, people destroy children for sake of sexual ego.
Forget about all these rants about "paternity fraud", IT IS ALWAYS ABOUT SEX.
Folks can't imagine their wife being pummeled by another man. And so innocent kids pay for such male hurt.
Funny thing is that most people that say this never put themselves in the child's shoes.
I take a 360 degrees view of life before taking position on things like this.
Peace.
1. Destroy the child's life because the child does not have a father?

2. So, men should clap for their wives and welcome them with open arms when other men sleep with their wives?

3. About the welfare of the innocent child: Even children without both parents still survive.

Moreover, the reponsibility of taking care of the child now rests on the mother. If she needs financial assistance, all she needs to do is to take the child to the real father.
Politics / Re: Are You Willing To Pay N178,000 Monthly For A 24-hour Electricity Supply? by tundebasic(m): 5:32pm On Apr 04
mrvitalis:

First your friends would be better using CNG to power his 50kva generator than using Nepa and paying 240per kWh

He can off the gen when it's not needed zero downtime

If your friend can set up a feed mill trust me getting gen, CNG won't be an issue

Ask your friend for me how many kg of his feed can get a chicken to 3kg in 7 weeks let's see if we can do business
Alright. I'll do and give you a feedback.
Politics / Re: Are You Willing To Pay N178,000 Monthly For A 24-hour Electricity Supply? by tundebasic(m): 5:03pm On Apr 04
mrvitalis:

Exactly your problems is economical hold your leaders accountable

What Nigerians should get after is increasing productivity, GDP so that earnings can grow

If we can grow GDP per capita to mere $7500

Electricity would become more affordable and to do that we don't need electricity

What we need is access to credit, access to gas to power industry, good economic policy to favor exports
Allow free importation of raw materials n machines

You as an individual don't need 24/7 electricity just like u don't need car or fancy apartments
You tried, and I see what you mean. However, you still don't get it do you?

So, I went to a friend's company that manufactures animal feed recently. Using your analogy, he has 50kva generator, and other machines. Now, for starters (at current prices), let's say 50 kva is 4.9 m, He pays 3 m for rent, raw material (corn is 540 k per ton), the milling machine itself is about 9 m now. Funny enough, his target was to make a measly 300k monthly profit!

Note: obviously, he needs to buy more than 1 ton of corn and other materials or inputs to make 300k profit monthly.

Now already, the above sums above 17 million naira for a company targeting 300k monthly profit. Funny enough, the costs of daily diesel consumption has not been added. Cost of acquiring gen alone is almost 30% of the total cost for starting the factory?!

I get you, but for a low income country like Nigeria, we still largely need stable and subsidized electricity to boost productivity.

1 Like

Politics / Re: Are You Willing To Pay N178,000 Monthly For A 24-hour Electricity Supply? by tundebasic(m): 4:26pm On Apr 04
mrvitalis:

If u earn 120k u can't afford 24 hours electricity anywhere
In essence, you are telling me that 4x the minimum wage in my country is not enough to provide me with stable electricity 🔌.

Can you tell me any other country in the world where 4x of their minimum wage is not enough to pay for basic electricity usage?

1 Like

Politics / Re: Are You Willing To Pay N178,000 Monthly For A 24-hour Electricity Supply? by tundebasic(m): 12:58pm On Apr 04
mrvitalis:

Do Nigerians lack electricity? What stops you from getting electricity?

$15k can give a household 24/7 electricity for 20 years none stop
Do Nigerians have electricity? Abi what have we been clamoring about since? So, a country of 200 million people generating less than 7000 mega watts has electricity? In comparison, Angola generates over 1 giga watts?

Do you know my income as a Nigerian? If I earn 120k monthly, at the current exchange rate, $15k is around 18 million NGN. It'll take me 15 years to raise it.
Politics / Re: Are You Willing To Pay N178,000 Monthly For A 24-hour Electricity Supply? by tundebasic(m): 11:54am On Apr 04
Zxcvbnmghtr:


That's not true. Most factories have not been relaying on 'NEPA' for a very long time because of the epileptic power supply. Truth be told, most businesses run on generator, house holds, spend a lot of money on powering their generators. It's not a factor at all.
The problem is not [for] existing factories. People keep making that mistake. The problem is for upcoming factories or people who were planning to start new production lines. The costs of manufacturing and production just increased.
Politics / Re: Are You Willing To Pay N178,000 Monthly For A 24-hour Electricity Supply? by tundebasic(m): 11:50am On Apr 04
mrvitalis:

I have always said it here, Nigerians that can afford 24 hours electricity already have it

There is no one that wants electricity 24/7 that can't get them

Nigerians want the impossible which is free/cheap and steady electricity... Electricity is luxury and we are too poor for it right now

We don't need electricity for development

There is absolutely no company you can start only when you have electricity 24/7 that u can't start now
I've read so many comments from you today, and I'm awestruck!
1. Electricity is not a human right?
Well, while it may not be a fundamental human right, it is a derived human right.

2. Electricity is not needed for development?

So, can you tell us what is needed for development?

According to Forbes:
A lack of energy in the form of electricity fundamentally restricts the development of many countries. Access to electricity reduces poverty, increases opportunity, and improves health, productivity and living standards.

So, how do you think we can reduce poverty, increase job creation and opportunities, and improve health care, and living standards without electricity?

3. You are separating access to electricity from electricity itself. I believe they are the same.

4. Nigeria is one of the countries with cheapest electricity in Africa as at 2023 (top 10 at $0.03 USD), but now in 2024, we are among the top 20 costliest country in Africa with this new tariff (at $0.15 USD).
In your own opinion, what justifies this increase?

1 Like

Family / Re: My Story As A Surrogate Mother And Advice Needed by tundebasic(m): 5:36am On Mar 31
Giftedheart16:
I just got to lagos this evening,I wish I can sue her or drop her number here so she can get insults or questions from nigerians but in nigeria if no money no power.thanks to everyone for your advice.i will drop her name and clinic laterv
Damn, this story!
You were a bit slow. You should have gotten the contact of the lady from the Health Authority since you are under cover.

You have a lot of evidence including the payments made to you. You can also get more evidence from the pregnant woman you mentioned, and the new secretary.

This one should not be swept under the carpet o.

So many wrongs in this story. So, the husband & wife are not even medical practitioners?!

Also, you did IUI not IVF, which means it was your child that was given to someone else (I'm placing both hands on my head in exclamation)?!

Consult a lawyer for legal advice on this matter, and you need to do this ASAP.
Health / Re: Please How Much Will It Cost To Remove My Womb? I'm Tired!!!! by tundebasic(m): 8:17pm On Mar 24
Jewessgratitud3:

You won't understand.
Go to a good clinic and let them refer you to a standard lab for full stomach scan. It's probably fibroid.

1 Like 1 Share

Romance / Re: You Are Not A Man If You Are Concerned About Your Woman’s Earnings – Saida Boj by tundebasic(m): 3:16pm On Mar 20
EreluRoz:
I don't even have the strength of being a feminist, feminists agrees to 50/50 sharing formulas, they are strong women and me I no get power.

I'm a proud dependent woman

Do you want to be a full-time house wife?

Why must your man be down or broke before you sort bills?

What is the place of kindness, unity, and mutual benefits in a relationship?

Will you be able to carry your babies all alone (at every time of the day) till they grow to become teenagers without letting their dad carry them even for once?

2 Likes 1 Share

Agriculture / Re: Exporters Of Palm Kernel In Nigeria by tundebasic(m): 6:21pm On Mar 18
Amunesteve:
Good day Sir/ Ma I have a very big palm kernel Farm and I would love to supply you or supply abroad , how can you be of help. Thanks in anticipation
Business / Re: What exactly Is The Benefit Of Floating The Naira? by tundebasic(m): 2:14pm On Mar 13
darediamond:

China export processed or finished Goods while Nigeria export Raw and or Natural Resources which we are not even the one that determines there prices.

Currency Devaluation helps developed Nations not chronic under-developed Nations which Nigeria is one of. Do not let the IMPERIALIST FOOL YOU LIKE THE DID WITH SOME OF OTHER AFRICANS.
Hello bro, I want to learn about mechanized cassava farming. If you are in the southwest, maybe I can come. Otherwise, if you know any farmer's association that deals with cassava cultivation, I'll like to join.
Hoping to hear from you.

1 Like

Romance / Re: These Wedding Pictures Are Trending Online by tundebasic(m): 2:20pm On Mar 12
One of them probably lost a very important family member, few days to the wedding.

5 Likes 1 Share

Education / Re: ASUU Sets To Embark On Nationwide Strike, Holds Meeting With Members by tundebasic(m): 11:23pm On Mar 04
Stomoney:
Power line area, Oke baale area, Agunbelewo area

Those are the environment I can vouch for
Thanks so much my man. I appreciate this feedback.
Education / Re: ASUU Sets To Embark On Nationwide Strike, Holds Meeting With Members by tundebasic(m): 12:15pm On Mar 04
Stomoney:
Better undecided

Someone can't even buy 5 rubbers of rice with 10k now

Yet refuses to increase salary
Hi, please where in Osogbo can one get steady (stable) electricity?
I'm currently in Abeokuta but I'm planning to relocate to Osogbo because of electricity.
Romance / Re: Trending Video Of A Nigerian Lady & Her Cute White (oyinbo) Husband (pics/video) by tundebasic(m): 5:56am On Feb 23
Singlesingle:
A scary face, making me dizzy sef
Let's connect. You can reach out to me via WhatsApp (check the number in my signature) or via email. You can check your email for my connect request from Nairaland.
Politics / How To Enable A Stable FX Using The E-naira Value Chain by tundebasic(m): 12:19pm On Feb 22
This is just a personal opinion, because I am not an expert in economic matters; I am just a freelance analyst of the Naira currency trend . The idea is to stop the free fall (devaluation) of the naira.

First, I will say the Central Bank of Nigeria (CBN) has been proactive. In the immediate past administration, it proposed many policies towards the stabilisation of the naira. My concept towards the stabilisation of the naira will be based on an existing framework from the CBN—using the E-Naira .

Note: E-Naira is a digital currency. It is not a cryptocurrency. Hence, we should use a stable value.

Thus, my proposed solution is "The Managed E-Naira Value Chain System."

So, let's dive in:

1. Following this concept, the CBN will create a digital platform (software, app, web, mobile) where only the CBN sells the E-Naira.

2. The CBN will only sell E-Naira to BDCs and IMTOs.

Now this is where it gets interesting:

3a. Instead of selling dollars to BDCs, the CBN will sell E-Naira to BDCs, while BDCs buy E-Naira from the CBN with dollars.

3b. IMTOs will have to get hard currencies from their customers and exchange/flip the hard currency to E-Naira, which can only be obtained from the CBN. This means IMTOs, too, will not be allowed to exchange e-currencies for Naira directly. E-Naira will be adopted for FX transactions through IMTOs and BDCs.

3c. Now, for this concept to work, the operators (buyers of E-Naira) will be regulated by the CBN (only IMTOs and BDCs should be allowed to buy E-Naira). Also, the exchange rate (value of dollars to E-Naira) will have to be regulated or managed by the CBN.

4. The CBN will have to reintroduce Form A and Form M for people to fill in for dollar requests since dollars will no longer be available for purchase from BDCs (BDCs will be using dollars to purchase E-Naira). BDCs will get dollars/hard currencies from customers while using the dollars to purchase e-naira from the CBN.

4b. Filling out Forms A and M will help weed out currency hoarders since requests for important FX will only be granted. Moreover, even if they lie, they can only change the dollars through a bank (directly to Naira) or BDC (via E-Naira).

5. When a customer brings hard currency to a BDC for exchange, the BDC will collect the dollar and send an equivalent amount of E-Naira to the customer's e-wallet. E-Naira can only be exchanged for Naira on the CBN E-Naira app.

6. Also, customers of commercial banks will be allowed to exchange [physical] hard currencies for Naira without going through the hassle of the CBN E-Naira wallet.

7. Commercial banks will not be allowed to sell e-currencies to BDCs. Instead, the commercial bank will give a monthly account of the dollars in its coffers. With the total amount of dollars in the banks, dollars received from IMTOs, and dollars from BDCs, the CBN can plan how to give dollars to people who need them (they filled out Forms A and M). This will help weed out currency hoarders.

N.B: Check the table below for an illustration of this concept....

How to deal with non-compliance in BDCs and IMTOs:
8a. E-Naira should be restricted to BDCs, IMTOs, and their customers using a CBN E-Naira app.

8b. A BDC shall only be in operation if it consistently purchases E-Naira from the CBN.

8c. IMTOs too must be mandated to purchase E-Naira if they must deal in naira. Any IMTO not willing to purchase E-Naira (with dollars) should stop dealing in the Naira.

8d. The CBN should monitor the accounts of every authorised BDC. Any BDC that does not purchase E-Naira in 2–3 months should lose its license or be suspended.

8e. IMTOs should allow people to exchange their hard currencies for E-Naira, which the customers will convert to Naira on the CBN E-Naira app. Banks should not be allowed to exchange, buy, or sell E-Naira. It will only be made possible on the CBN E-Naira app.

How this will stabilise the exchange rate:
9a. Remember that IMTOs and BDCs are buying E-Naira with dollars? They are also only selling E-Naira to customers (since they must use dollars to get E-Naira if they still want to be in operations).

9b. So, if a BDC pays a customer N1,700.00 for $1.00 since the BDC will purchase $1.00 worth of E-Naira for N1,300.00 from CBN, the BDC will make a loss of N400.00 per dollar.

9c. Also, if a BDC increases the price of its E-Naira from N1350.00 to, let's say, N1800.00, the customer will not buy because they will only be able to exchange it for N1,350.00 on the CBN E-Naira app. The customer also suffers a loss.

How this helps the bank:
10a. This means banking apps can convert FX earnings directly to Naira. Many would prefer to exchange directly to Naira without going through the hassle of E-Naira.

10b. IMTOs can use the CBN E-Naira app API to determine the volume of dollars needed to purchase an equivalent amount of E-Naira when a customer requests an exchange.

10c. Otherwise, an IMTO shall determine the average monthly volume of dollars flipped/exchanged for naira on its platform. An equivalent amount of E-naira shall be purchased monthly by IMTOs exchanging dollars for E-Naira.

How this tackles round-trips:
11a. Dollars obtained from outside the banking system will be brought back into the banking system.

11b. Using the Form A and Form M concepts, dollars will no longer be sold/given to individuals. However, the CBN will use a managed lending model for dollar buyers. Where dollar buyers in Nigeria must have a blocked account [more on this].

11c. Also, hard currencies will not be given in cash to people who own domiciliary accounts. They can use cards, transfer, etc. But for withdrawals, they either convert directly to Naira (through banks) or use E-Naira (through BDCs/CBN E-Naira app).

12. This is just a brief introduction to the concept, as further approaches, information, and references will be discussed with policymakers.

Summary
CBN should stop selling dollars to banks and BDCs. Instead, it should buy dollars from them at a controlled price. Anyone who needs dollars should get Form A and Form M from the CBN by applying through commercial banks.
Politics / Re: Tinubu: We Will Raise $10 Billion To Stabilise Naira, Boost FX Liquidity by tundebasic(m): 5:29am On Feb 21
amakanancy:

Don't mis-quote sir. The statement is easy to understand. We will raise is totally different from we will borrow... you can raise money without borrowing.

“At the core of this is ensuring optimal management of the assets and investments of the Federal Government towards unlocking their revenue potential.
I like your optimism. But, if they could raise it, they would have done it without announcement.

Also, someone that wants to raise 10 naira would first raise 1, 2, 3 naira and you would have seen the person is capable of raising 10 naira.

The last time this administration raised $3bn you can check how they did it.
Investment / Re: Treasury Bills In Nigeria by tundebasic(m): 4:29am On Feb 21
Quiteparrot:
This country is finished, everybody is now chasing after the dollar, #1800/$ as at today. I'm so depressed right now, all my investments are in Naira. Mutual funds is giving me 11.5%, Bond at 15.7%, my purchasing power has been reduced by more than 50%. I sold my SUV about two years ago, hoping to buy something bigger, now the old version type I sold is now 14m for Nigeria used, I can't keep up. I had to close down my business because of government satanic policies, fixed investments wey I put eyes to dey use take care of family, devaluation and hyperinflation no gree, I'm so tired.

Each time I want to process a withdrawal from my mutual funds investment in order to starch it all in dollars, I get weary because of the monthly income I will earn from it which I've been using solely to take of my family, the more I tarry the more the dollar soar. Newbies should learn from my mistake, don't keep more than 20% of your investments in Naira, 80% should be dollar investment.

Is there anyway I can sell my 10 years SUKUK? Nigeria bonds is a loss in disguise
You have to comfort yourself because you are not alone. I was working remotely.

Towards the beginning of this administration I converted all my [little FX] earnings to naira thinking this government will just be blocking naira indescriminately, and I can also cushion whatever comes since I earn in FX.

So, I fixed the naira in Tbs thinking worst comes to worst, I can buy my FX back within a year.

Unfortunately, I lost the remote job, and my naira is extremely worthless within 9 months! Just waiting for the TBs to drop next month and I find my bearing. So, you are not alone.

8 Likes 2 Shares

Politics / Re: Tinubu: We Will Raise $10 Billion To Stabilise Naira, Boost FX Liquidity by tundebasic(m): 3:40am On Feb 21
Origin:
Short term fix.


As long as everyone continues to use importer rather than local goods. The demand for fx will always stack higher than the naira....

From your gate to your living room to your bedroom everyone uses 90% imported in their homes. Even when local is available and cheaper. We all still opt for these imported items.......



We all know the solution but the fruit of corruption is to steal as to use all that glitters that is not gold....

Buy local to grow the Naira.


And it is still the same corruption that has our fx rising because our main trade partner is China and we should be concerned about the yen but our loans and corruption is in dollars.
Well, it will be patriotism to buy local goods to grow the naira.

Rather, unfortunately, in Nigeria, local goods too depends on dollar exchange rate. Garri went from 2k to 7.5k here per basin. Local rice went from 7500 to over 50k. A palm slippers went from 6k to 15k. Cement went from 2.2k to 10.5k. Are these not local goods?

Funny enough, the government even plans to make cement cheaper by allowing importation of cement. Something we produce locally. Doesn't that tell us something?

Nigeria's economic policy would require a unique approach.

3 Likes 1 Share

Politics / Re: Tinubu: We Will Raise $10 Billion To Stabilise Naira, Boost FX Liquidity by tundebasic(m): 3:19am On Feb 21
malali:
Even if you raise 100 billion dollars.

As long as there are a few Nigerians with 10 billion naira cash at home, they will change it to dollars in no time.

And we are back to square one......The Banks are complicit as well, our banks need the "sanusi" treatment, Flush out culpable CEO/MD's

You have to address the looters, the corrupt officials, the money launderers, the currency traffickers, the currency hoarders.

Stop pretending they dont exist or they are untouchable.

These people are making a fool of your government and your strategies. You are now spending more than the "removed" subsidy to stabilize the naira....lol


Unfortunately, forex hoarders have increased. Most Nigerians that were unaware or unconcerned about the naira-dollar disparity are now aware. Also, diasporans now understand they make loses by investing in naira. Honestly, I don't know what this government can do. But borrowing dollars to stabilize naira to dollar exchange rate is a short-term solution.

16 Likes 2 Shares

Politics / Re: Speculators Undermine Measures To Stabilize Foreign Exchange Market – Ribadu by tundebasic(m): 8:32pm On Feb 20
mrvitalis:

The solution is to borrow to defend the naira
U need to borrow, Obi then said he would borrow $15 billion to defend the naira

The main issue is no body trust Tinubu enough to give him that amount

No body trust his management skills

The $3 billion he got he mismanaged it
E Even if the CBN borrows money to stabilize the naira, it will not work now. The value can drop briefly, but it will still go up due to free floating. Borrowing to stabilize the naira can only work if the naira is pegged/fixed. The official market can be controlled while the unofficial markets will be managed.

1 Like

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