₦airaland Forum

Israel have no right to go into Rafah cos that is where the war ends.They should clean up the cities and profile Palestinians back into their towns.I don't support Israel on this one.

Oga did you come here to be checking people's spelling?

DrMuzungu:
God supports Israel (and illiterates should learn it is not ISREAL but ISRAEL) in their fight for survival. God wants them to cleanse their land of any goad-bleeping raghead fanatic c0cksvcker.

Two wrong doesn't make one right.The soldiers can't be punished for killing unharmed youths if any but the perpetrators of this evil act are still alive to face the music.Army don't need to give us any statement or claiming innocent but rather fish out the perpetrators to face the law while doing that according to the rules of engagement.

By killing children?No wonder God have no pity for this nation because we have 80% wicked souls.God has long left nigeria for our evil politicians and their followers.

balisa1:
Okay, point out the perpetrators and I am sure the army will let the innocent ones out. In the absence of that, let the army find them using their own method!

I think they started but they were stopped.only few houses burnt.

jamesbridget13:
they already did o. Information yesterday was that they had set Okuama on fire

Good one the president handled this matter maturely.If na obasanjo or buhari time soldiers for don burn that village down and kill innocent citizens.But they really need to fish out the killers and make them pay for their crime.

Make manu no bi like Chelsea oh.i need them to remove Liverpool from this competition.

Oga stop been foolish you must respect that office even if you don't respect the person.

Max24:
So Tinubu is no longer the cocaine sniffer, abi? Wasn't that part of the Supreme court case? Now Obi has accepted him as his president? Meanwhile, some obidients are saying otherwise. So Obi has finally accepted he lost after waisting his supporters time? Wonders shall never end !

I knew AJ would knockout Francis.AJ has the right skill and power when he,s on top of his game.

Binance and BDC no longer determine the rates with the recent policy guidelines.CBN determines the rate.They should come and explain how dollar is still opening at 1400 and closing at 1600.The are the ones selling now at that rate

You can just make the economy productive over night.we need to set some major policies in place like insecurity,electricity,fx,ease of doing business,etc before the economy can beginning to be productive.Past Nigerian govt haven't laid down those foundations,we would have still experienced this hardship should any other candidate had won except the person wanted to continue the cosmetic surgery like other successive govts.floating the naira was hard but tinubu i believe should have done a partial floating i.e the manufacturing sector should have incentives to boost local production.

Oga every candidate said they were going to remove subsidy but had a plan.Till today do we have federal govt sponsored buses on the road to ease transport?Do we have functional trains to move goods from one part of the country to another.We not only implemented one but two wicked policies and the floating of the naira actually buried the country.

JagabanB:
You warned but supported a candidate who said he was going to do so?

This our leader should stop globe throttling to look for investor when their house is not in order.Tackle your problem and watch how investors will flock into your country.No investor would want to invest in an unstable economy,unsecured one e.tc we are definitely broke but we have to start leaving like a poor country (our leaders and those in government) should understand that it's not business as usual.

When there is artificial demand supply can't meet up you just have to deal with that first to know your actually demand before you face the supply aspect.

Just4000:
This method is not a lasting solution, as it is not sustainable. Naira will still come crashing.

The CBN should deployed better means of stabilizing the naira, rather that this method that I call the backdoor approach. You promised them $20k weekly only to end up giving them $10k for this week. The advantage with this method is that it is a corny approach, so may not be easily predictive but that's only for a short while.

The easy way most government stabilizes their local currency against the dollar is buying out their currency. They make dollars available and their currency will naturally appreciate.
This is simple law of demand and supply. Scarcity breeds price increase, 'so by using the dollars from your export to buy the naira', the naira increases in value when fewer naira are chasing the dollar

You can sell at the rate you bought you goods but don't form a union on price.let everyone sell at their own price.That is the problem

Scientheosopher:
It's not a Nigerian thing, and it's not wickedness. It may be called intelligent/adaptive trading. Let me explain.

If they sell at the former price, they will not be able to restock at the increased current market price. If they sell at a lower price because the current market price has reduced, they would run at loss.

Please what is the sole purpose of the use of foreign exchange is it not to aid import of raw material and equipment for production and also import of goods and services we don't have in the country which the latter is more important as this will aid production for export to bring in more forex.Bit are these people getting the fx from banks the answer is NO.They have to go get it from non authorized BDC,s how wont the economy collapse?

nairalanda1:
Seriously, we don't have enough forex.

I could lie to myself, and say that we have tons of forex, but we don't. And a key sign that we don't have enough forex is 1) we have to take loans and more loans 2) naira has been on a steady fall since the 1970's.

At the end, Nigeria needs to be more productive. It goes without saying.

Don't mind all these nairaland kids.we don't have enough fx but manufacturers,importers are getting enough from BDC,s to carryout their activities the same BDC,s cbn is not selling too.where are they getting it from?olodo people.

CyberWolf:
That is the lie you guys keep on regurgitating every time, aren’t you guys tired of this bulshit ? Look, we have enough fx and that’s why you can easily get any amount you want from BDCs. So the question is how do BDCs get their fx if not from the same bank through CBN? Make Una keep deceiving una self there.

The new currency (Naira) already looks fake I knew some people would tap into the business of producing it.

Mumu who told you the Ghana cedis have not been devalued.They even had to remove 2 zeros from their currency yet it's still falling.you through insult and talk like a drunk.

Bluearrow:
Shut up your trap & go read!
You guys are too empty upstairs!
Do you know how much dollars have been borrowed since your party took over in 2015 till now which cannot be accounted for?? All these borrowing & looting plunged our nation into serious debt by your party! Our crude oil export has been queued up to pay debt for money your party borrowed & unable to account for! The nation reserve is almost zero, who is to be blamed?? Your govt sold the word manipulators to u guys to cover up the mistakes they have made. Binance is in Ghana, why are they not manipulating Ghana cedis? Think with your head!

You keep saying thoughtless policies,years of corruption,have there been corruption in Nigeria since the time of obasanjo how come the dollar never nose dived the way it did during the buhari/tinubu regime.I am not saying these doesn't affect the nose diving of the naira against the dollar but currently we have manipulators.Have you heard of the word pump and dump on the internet.Go learn.

Bluearrow:
What of those countries that allowed binance, why haven't their currencies turned to rubbish? Binance has been in Ghana for how long, why is their currency not falling? You people lack brain, reason govt easily fool & manipulate u people. USA case with binance got nothing to with affecting their currency. Thoughtless policies, years of corruption, excess naira printing & no production is what is affecting your currency. All the big exchanges in the world like coinbase are domiciled in the US, why is the US dollar not affected? Alot of u youths are brainless in this country. Mind you, bitcoinn does not trade with dollar, but any currency u choose to rate it with! You people are empty upatairs, this currency issue just made me realize this

Not through banks but regulated BDC.we don't have to have many of them licensed.I agree with the new cbn guidelines.I wouldn't suggest bank because bank executives are culprits and manipulators.

chronique:
Lovely. CBN revoking licenses of over 4,000 bureau de change is a very good step in sanitizing this forex market. The era of aboki that doesn't have a single formal education, controlling the sales of naira and dollar, must stop. Sanitize the system totally and let forex be traded properly through the banks.

If binance was allowed in the US the dollar would have been rubbished in that country.Just compare what Bitcoin is trading to a dollar,there is so much manipulation.They are here to kill most of the world currencies but nigeria didn't realize it on time till it got bad.

fuckJones:
Between me and youwho has no brain? why did USA stop binance operation since 2019?

I have always said if any govt can come in and tackle our forex problem then it would have solved 70% of our problem.I am happy tinubu is doing just that.

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.

Super eagle didn't just turn up in that game.They should have taken risk in that final and come out to play but can't blame them when the coach played an attacking midfielder in central midfield against the country with the best midfield set up.It would even have been better if they played ok ,dominate and lose 3 nil to ivory coast.

Nigerian should start calling out their state governor's on social media.we need to disgrace those on that are not working.Sidon look and blame federal govt is over.

Tinubu should just lead by example and cut the cost of governance to the bearest minimum.You are asking the people to endure hardship yet you live in abundance.well them say na their turn to chop.

Food scarcity has hit nigeria(which we all said would happen) they now use gowon to write a letter pleading for the sanctions to be removed.APC govt and drama.

This one will affect our arewa brothers oh.Tinubu policies hitting people back to back.First president that doesn't really give a damn if his policies are hurting people he needs their vote.This is the right call we will surely get there.

These are ways the increase in exchange rate is beneficial to the govt.They gain alot from it,even govt wants a stronger dollar because they earn alot in dollars and wants the citizens to spend in a weaker naira they have created.

Sheuns:
Why is the custom’s charging import duty in USD? If it is charged in Naira there wouldn’t be a need to adjust and readjust exchange rates.

Peg import duties in Naira and let importers seek Naira to pay. Not changing exchange rate all the time.

Other countries I know of charge import duties in their local currencies and not pegging exchange rate at USD.

This piece only shows corruption fighting back.when you try to do the right thing in nigeria,Nigerians benefitting from the corrupt system will always fight back.They are hiding under the umbrella of MAN to commit forex scam and portraying millions of Nigerians will lose their job if this is looked into.Was there ever any job in the first place?

I appreciate you people giving it to wike (south south) but this will never be beneficial to (south south).They will still use their position to please their masters (North),we only need a nigeria that will work moreover why are the SW/ north afraid of having the SE as president?

DEROX:
sad reality igbo man can never smell it rather we give WIKE

They should disconnect them sharperly.With court order.They make Nigerians pay high tariffs but don't want to pay their own bills.