GrammarNazi1:
Will this have positive implications?

Yes.... it's a tool to fight inflation and high exchange rate because it reduces loose money in circulation.

Inspirer1:
Implications?

Savings and investment in money market instruments will become more attractive because of higher yield.

As more money is invested there will be less money in circulation ultimately inflation rate will lower.

Regarding exchange rate, the lower the volume of naira in circulation the higher the value of naira to other currencies (all things being equal)

OboOlora:

Trial and error financial techniques.
Pump $$$ from foreign reserves to save a dying naira so people can applaud you for a week.
Then watch the same $$$ rise in the next month and blame citizens for not buying unavailable local goods.

It will be interesting to see your cv so that we can know how brilliant you are and your success story in positions you held.

Easybet1:
I bought at 1725 to a dollar. Should I dump it now and accept my loss

You better do now because it will fall further.

PointZerom:


I am a landlord too, it is wrong to disturb a tenant for one year rent under this economy. Only in Nigeria will you see tenants paying up front. At least 6 months rent is ok for now.

I have no problem collecting monthly rent from the tenant but the tenant must give me a bank standing order.

It's hard collecting rent annually talk more of monthly.

PointZerom:
Any landlord expecting 100% payment will tell Nigerians if he paid for all the building materials used on that house up front.

Did he pay for the building materials in areas?

Bmaster:
it is a very good suggestion and as a matter of fact how it's supposed to have been done, assuming Nigeria and it's leadership were not at the mercy of a grab-and-runaway-with-it politicians.
But,however,sir Makinde,please try as much as possible to learn from what happened to senator Ningi,. You are in a very good position to know better that our country Nigeria is gone,so subtly join the bandwagon before the group of 'emperial highnesses' reasons your case

Those that do not see anything good in this country will write like this. The intention is to harmonize the submissions and forward it to NAS as a proposed constitutional amendment. By this the passage of it at state houses of assembly will be easy.

nairalanda1:


Nigeria is mature for state police.

The only palava is funding and funding. I don't see federal government funding the thing. That means states , most of whom don't have the kudi

The governors have billions that they call security votes. What do they use it for?

adenigga:


Source: https://punchng.com/Kanus-family-knocks-South-East-politicians-for-abandoning-IPOB-leader

Now you are soliciting for their assistance but kanu was abusing all during his days of madness.

Is President tinubu your president? I thought that he is president of zoo.

You want political solution? How about Britain, UN, America, Russia, World court?

In life learn to be humble and don't over do things. We told them that they will get nothing through the path that they were towing but they called us names.

mytime24:
Yet d price of goods aren't coming down🤔

Once again how much is a bag of cement 🤔

Understand basic economics. The goods you have now were imported with the old rates. The businesses will not sell at a loss. The gains in the exchange rate will start reflecting with new arrivals.

4tomandchi:
I feel sorry for you still holding USD with the hope that Naira will fall to 3K you don’t know what is coming your way… For the next 3 months Naira will remain bullish

We told them back then that it was all speculation and not reflective of the economy. They used all tools to win their game until government through CBN and NSA outsmarted them.

Now we have an economy back on track. Wait and see what will happen when the refineries start producing.

Ogbuu101:

Oga,dollar was 500 when your destroyer in chief took over.
Tell him to take it there b4 you start making noise all over when dollar was actually sold above 1500 yesterday

That rate was a subsidized rate. No more subsidy. What it's moving to is the true value as per the economy.

CountinBlessins:
When a government relies on propaganda more than I integrity . Stop employing online trolls to defend your nonsense online and fix the damn economy!
Lies and propaganda can only go so far.
Maybe Tinubu needs to sack his media aides, special advisers on media and the minister rof information.

All these people are making him look so bad with their kindergarten level propaganda

What is propaganda in this news please?

Splashme:


Borrowing here and there to subsidise Dollar supply,

Raiding and threatening BDC operators

Restricting funds transfers even for foreign education

Increasing import tariffs

Increasing interest rates

Etc etc etc ... all these will only provide temporary relief. It's like a man digging a hole to cover another hole

An economy is managed by fiscal and monetary policies. All that you listed fall into these. Abi, do you want our economy to be rudderless and you will be pleased 😀?

derecho:
Tinubu should go and take lessons from Alex.
Not just promising heaven and earth but doing anything.

The most unfortunate part is Tinubu is untrustworthy

Which lessons. The state governments are getting the type of allocation that they have never gotten before courtesy of tinubu's policies of subsidy removal on PMS and fx.

Another one is coming through requirement of TCC for fx transactions.

Splashme:
They are gradually abandoning floating the Naira and going back to doing the same patch-patch that Emefiele was doing.

The useless govt officials abuse Emefiele in the day but turns round to copy-paste his policies at night.
.

Tell us the patch patch that they are doing.

horsepower102:


Source: Greatabia

The one that they commissioned, I no see light ooo. I dey live for Aba. Audio commissioning everywhere.

Artscollection:


It is better than looting the nation's treasury so focus on those looters

Both are economic saboteurs

Artscollection:
Open seme abeg

So that you will continue your smuggling.

SYSTEM222:
I was surprised when I found out it was sold for 1400 against 1580 as of yesterday. The dip is too sporadic and it's not normal.


Why the dip of 180naira in 24hrs?

If something can push it down so quick. Something can also push it up quickly as well.

We need a stabilized system here

Speculators are dumping their dollar. The informed ones have grapevine information about policy direction. The American outfit that predicted #1200 in the first half might be right.

I have never doubted the economic brains in this regime. From the president to the vice president, finance minister and CBN leadership.

Things went haywire because of the realignment of the economy that happened suddenly.

The lazy state governors will earn more without their efforts - increased crude sale, removal of subsidy on PMS and fx and demand for TCC for fx transactions.

Without sentiments, we are on track.

Wallade:


This will only embolden the black market operators and force more people to return to the black market.

The higher the demand for forex on black market, the higher the exchange rate for forex and ultimately the wider the gap will become between black market and official market rates.

Black market strives on cash and not on transfer. It's easy track transfers. The only transfers that can be done illegally are those that have fx outside Nigeria.

iichidodo:
Another bureaucratic red-tape to frustrate Nigerians....

Tax is a civil obligation. If you ask for fx from government it means that you earned income. If you earned income you ought to pay tax.

I live in Aba. I no see light ooo

Bluearrow:

How?
I don't get your question?

What is happening to their CEO in USA?

Bluearrow:

Check what well?
It operates in the US with a US extension .us

What is happening to their CEO?

Bluearrow:
Instead of Nigeria govt to liaise with these people peacefully by asking for tax remittance & regulating their operations to follow official exchange rate, they are doing gra gra. US wey retain binance them think they don't know what they are doing. How can any responsible govt shut such a big market capable of generating good revenue. Not to talk of a struggling nation with a dwindling economy like ours

USA retain binance? Check well please

mrvitalis:

Lol after subsidy removal? Lmaooo APC propaganda

We are paying more subsidy now than we have ever paid... And we are also paying more for petrol now than we have ever paid

Divide those allocation by the exchange rate the u know states are getting far less

The dollar mentality in this country eeh.

olaric:
Lol; is Binance registered to do business in Nigeria? If they are; then there's a possibility they would release this data, but if not, then Nigeria is on a long thing...

Remember that it's against the law to do business in Nigeria when you are not a registered entity.

[quote author=Cantonese post=128986366]

The question here now is this:
How has the arrest of the executives of Binance helped the economy to get stronger?[/quote
The volatility has stopped. The movement is predictable. Planning is easier. This is how it should be.

ManirBK:


https://thenationonlineng.net/10-states-paying-wage-award-to-workers/

Where is the Abia State governor that they celebrate every move he makes?

maureensylvia:
Are we that cheap?

SMH no pressure to my gender ❌

African mentality. So approaching a man means that women are cheap and playing hard to get means that they are expensive.

Dey play. There are several that played hard to get but when you eventually corner them you discover that they are as cheap as agege bread.

poshestmina:


If there's restroom /kitchen inside the apartment,I don't have energy for face me,I slap you houses ,just few adjustments 'ear and dear',I don see husband be that ,Mariah.

Correct wife material