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Foreign Affairs / Re: American Politics Thread - 2024 Elections — Biden’s Presidency! by wirinet(m): 3:41pm On May 01
Trump is threatening violence again if he looses the November 2024 elections. When he was asked whether he expects political violence after the elections, he responded that it depends on the fairness of the elections. Now, who determines the fairness of an election?

I think the American political and justice system has bent over too much to accommodate the excesses of Trump. He is too embolden that he feels he is untouchable. The whole of the US political and justice system seems afraid of him, that he can practically get away with murder.

The US will have to confront the Trump menace headlong once and for all, and damn the threats and intimidation of his MAGA cult movement.

1 Like

Politics / Re: Michael Chibuzo Replies Obi's Criticism Of The Lagos-Calabar Coastal Highway by wirinet(m): 6:49pm On Apr 30
Coastal road in this climate change/global warming age when sea levels are expected to rise? How will the government prevent erosion that is eating the Atlantic coast from dragging the road into the ocean? Are they going to extend Atlantic City all the way from lagos to calabar?

Politics / Re: Peter Obi Vehemently Condemns Lagos-Calabar Highway As A Misplaced Priority by wirinet(m): 5:49pm On Apr 30
Nightwolf1:
Highly misplaced priority... The only question I have for Thièfnubu and his brain dead zombies is;

They should show me where this road project will pass through in Rivers State and name the location..

Lagos shoreline is totally different from what is obtainable in Bayelsa, Delta and Rivers State. Travel and see things yourself.

Are they going to build the coastal highway on swampy mangrove forest or in the creeks?

.

My broda, me I know understand the environmental, economic and logical sense of building a mega highway all along the Nigerian coast in these global warming or is it climate change era. It just does not make an iota of sense to me.
Roads that will be washed into the ocean within 50 years, might even be sooner. You think the people that built the Lagos-Ibadan expressway were stupid to build the expressway far inland.
Foreign Affairs / Re: American Politics Thread - 2024 Elections — Biden’s Presidency! by wirinet(m): 5:06pm On Apr 30
bemeruca:


Hunter wants to sue fox news for reporting what other DNC media will not report.
Other DNC media will not report stories they cannot verify.

So tell us what is he suing them for?
Hannity show on foxnews aired over 80 segments in 2023 alone alleging that Mykola zlochevsky, the Ukrainian oligarch who controlled Burisma paid a $5 million bribe to joe Biden through Hunter Biden.

Maria Batiromo pushed these same allegations against Hunter Biden more than 200 times in 2023

Now Foxnews will be given opportunity under oath to prove these allegations.



Don't be a yes man for a useless child at 50. He can sue for defamation, but that does not mean he was defamed.
Why get do personal with Hunter Biden? He is not running for any office. whether he is convicted of a crime or not should have bearing whatsoever on your life.

Yes he can sue for defamation, only a competent court of law can determine if he was defamed or not.

1 Like 2 Shares

Foreign Affairs / Re: American Politics Thread - 2024 Elections — Biden’s Presidency! by wirinet(m): 7:30am On Apr 30
Things are about to rev up for MAGA cult and it's megaphone - Foxnews, Hunter Biden is preparing to sue Foxnews for defamation. MAGA is about to go into overdrive with their propaganda and conspiracy theories, and not forgetting fake outrage. They will now be given opportunity to present all their evidence in court or pay another set of millions in damages.

Business / Re: US Seeks 3 Years Prison Term For Binance Founder, Changpeng Zhao by wirinet(m): 4:17pm On Apr 25
kingolu1:
That's a good one, you will never see USA citizen criticizing their Government over this,but somewhere you will see their citizen in a large debate try to make excuse for the victim, there's nothing legit about Binance or any crypto.
You will also not see US government kidnapping a suspect and lock them up indefinitely while investigating the crime.

Binance is not the only crypto exchange on the internet. There are at least 5 other major ones and uncountable minor ones. Kucoin, OKX, Bybit, MERC, etc are operating without any problem. The even still have NGN on their platforms.

1 Like

Business / Re: US Seeks 3 Years Prison Term For Binance Founder, Changpeng Zhao by wirinet(m): 4:02pm On Apr 25
DeepSight:


Wirinet..... Here again....
You know I told you how hesitant I am about anything crypto.
Crypto is not the problem. Crypto like any other tool can be employed for both positive and negative use. It's just a system of decentralized exchange.
The problem governments around the world is having with Crypto is how to regulate and monitor it, and collect taxes on transactions made through it.

Trading crypto is like trading other instruments like commodities, forex, stocks, futures, options, etc., the difference is that cryptos are more volatile and unpredictable, and is more prone to manipulation. If you can master it, you can indeed make a lot of money in a short period of time. you can also loose a lot in very short period of time.

1 Like

Family / Re: The Husband Is The Head Of The Family? by wirinet(m): 8:52am On Apr 24
UjuJoan2:


Nobody is the HEAD. Husband and wife are co-captains, and each have their own roles to fulfill, both equally important.
False. In any social structure or organisation, there must be a leader. This applies to all animals, except solitary animals. Marriage is the most basic human social structure, and for it to be successful, there must be a defined leader/head. Now, that leader does not mean dictatorship, and it might even not necessarily be the man. In some cases the woman takes on the responsibility of leading the family.

Societies without a leader are often don't achieve any form of greatness and are often subservient to those with strong and defined leaders.
Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:56pm On Apr 22
Sapasenator:


It is unique to Nigerians. I have travelled all over the world and live with the whites for decades. I actually go out of my way to avoid fellow Nigerians for this attitude.
Where have you travelled that you find no discrimination? Have you travelled to the US? You lived with the whites in the US and you see no discrimination? You have travelled to the UK and you see no discrimination? In fact UK has very strong anti-discrimination laws. A cousin sued her employer for discrimination in the UK and was awarded a heft sum as damages, as she was able to prove it in court. Have you been to the middle East and find no discrimination. Israel nko? The black Jews in Israel are always crying of discrimination.

6 Likes

Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:45pm On Apr 22
Sapasenator:


I am honestly ashamed of you guys who discriminate against your fellow countrymen because of tribes. Shame on you.
If you have travelled abroad, you will know that discrimination is not unique to Nigeria. There is serious discrimination in the US, UK and even China. The Tibetians, the Uyghurs and the Zhuang people are always crying of marginalisation and discrimination by the majority Han tribe.

4 Likes

Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:40pm On Apr 22
Lifestone:

Your hatred for Nigeria is palpable. You forgot history too soon. When Yoruba has opportunities to confiscate Igbos Properties after the Civil war, they didn't. Commercial disputes are completely different from discrimination moreso from a foreigners in your country
It's amazing that this generation of igbos are so hateful. Their fathers were more reasonable. The hatred exhibited by todays igbo youth had never been witnessed in Nigeria, even during and immediately after the civil war. My father inlaw actually fought in the civil war and was very close to ojukwu. You will never find him spewing so much hatred for Nigeria or Yorubas or even hausa-fulanis.

3 Likes

Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:27pm On Apr 22
Sapasenator:


God bless you for that. They are bunches hypocrites. Bigoted tribalist complaining about racism.
I am honestly ashamed of you guys. So because there is tribalism in Nigeria now justifies Chinese coming into our country and insult us? There is no country in the world that does not suffer some degree of racism/tribalism. In England there are serious tribalism between the English, the Scots, the Welsh and the Irish. Same in China, there are serious tribal tension among the various ethnicities. But when it come to confronting outsiders they forger their differences and unite to face a common enemy/threat or humiliation. Here you guys rejoice and give support to our enemies and wish all us dead.
Pathetic.

8 Likes

Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:18pm On Apr 22
abdsamad:
I still don't know why this is a big deal.
Owner of private (not government) property said someone should not enter, you said they're not good.
Chinese or no, they bought the land. If you didn't want them to do whatever you wanted with it you should not have sold it to them.

People behaving as if the owner borrowed it or is a mere caretaker for the land
Please stop behaving like an ingrate that uses left hand to point to his father's compound. The Chinese don't own any land in Nigeria, all land belongs to the government, they can only lease it.
Even if they bought and own the land, they cannot commit a crime on the land.
They should go to South Africa and discriminate against the locals claiming they own the land, and see if they would live to tell the story.

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Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:13pm On Apr 22
hslbroker2:
Even the hate for ourselves is more than what the chinese are doing to us.
Forget hate among ourselves, that's a family problem. It's unacceptable that outsiders would come into our house and start insulting us.

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Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:11pm On Apr 22
Antoeni:
Those Nigerians Are Mad, Person Say I No Want You For my Store or Shop, Is it By Force? THen go Else Where
Please cure your ignorance by reading chapter 4 section 42 of the Nigerian constitution.

6 Likes 1 Share

Business / Re: Abuja Chinese Supermarket Shuts Doors by wirinet(m): 4:02pm On Apr 22
DeadCountry:

Stop barking like a rabid dog you nitwit hypocrite. Is what the Chinese did more bad than Igbo lives, properties and businesses that you omoniles and your illegal terrorist government are destroying at Lagos? The Chinese owns their supermarket and they reserves the right to chose who buys from them.
It seems lots of misguided igbo youths are very bitter and angry at Nigeria and fellow Nigerians, probably due to heavy dose of iPOB propaganda. So they don't mind humiliation and even self destruction, as long as Nigeria is destroyed along with them.
How can citizens support foreign nationals discriminating against locals in their fatherland and operating an apartheid system, and someone is happy. Try this shit in any Country outside black Africa, and the place would be burnt down and the Chinese deported back to their country.
In they tried this shit in the UK, a country that has strict anti-discrimination laws, the restaurant owners would need to sell the store to pay damages.

10 Likes

Politics / Re: Alex Otti’s Ph-Aba Road Vs Lagos-calabar Coastal Road by wirinet(m): 5:38am On Apr 22
longetivity:
And concrete roads can last up to 30 years, I stand to be corrected tho shocked
If concrete roads can only last 30 years, how come roman roads and bridges have lasted over 2000 years? What did they use in building their roads?

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Politics / Re: IMF: Why We Asked Nigeria To Remove Fuel Subsidy by wirinet(m): 9:38pm On Apr 21
DeepSight:


Oga, when the cost of subsidy jumped from under 300 billion in a few years to over 6 trillion, that should have been enough to tell you that brazen thievery, and not the subsidy itself, is the problem.

And so long as that remains the nature of Nigeria, be assured that any sums you imagine will be saved by the removal of subsidy in Nigeria, will be quickly and rapaciously re-looted, just as all repatriated loot has been re-looted. If you dont know and understand this, then you haven't started.



The removal of the subsidy impoverished Nigerians far more than anything you are talking about. The drastic jump in the cost of living meant that every N100 each Nigerian had automatically became about N30. You really don't understand what has been done to the people, the hardship that has been imposed, and the thousands who have died as a consequence.

As far as the refineries are concerned, many trillions over the years have been allocated to them. All those sums were stolen and that is a function of corruption and not subsidies.

The people who preach removal of subsidies to us subsidize many things in their own societies heavily.


Don't mind them. Most likely they are government workers or government apologies whose duty is to defend government policies at all cost. We have been removing petrol subsidy since IBB, and it seems the more we remove subsidy, the more money used for subsidy grows. During Obasanjo who removed subsidy twice, the amount spent was less than a N100 billion. During Jonathan with all the subsidy thievery and corruption, the amount on subsidy was about N3 trillion. Now under Tinubu who completely removed subsidy on the first day in office, the amount spent on subsidy so far is 7 trillion, and he had not even spent a full year in office. What this tell us is that as long as we import petrol, the money spent on subsidy would keep on growing.

I want you to listen to this presentation by PLO Lumumba, he eloquently elaborates on the miseducation of Africans and the challenges we face from colonisation and neo-colonisation.

https://www.youtube.com/watch?v=jwufamTpQXc?si=H_HU-UAIXpySdgfh

2 Likes 1 Share

Politics / Re: IMF: Why We Asked Nigeria To Remove Fuel Subsidy by wirinet(m): 6:03pm On Apr 21
Tianamen1:


If you know we tax lower, why are you fighting for the removal of subsidies as opposed to raising taxes? The two policies are vastly different?
That's because raising taxes would affect the rich far more than the poor. How many of the elites pay taxes commensurate to their wealth?

In Nigeria the government favours the elites to the detriment of the poor. We practice elitocrasy - government of the elites by the elites for the elites.

5 Likes 2 Shares

Politics / Re: IMF: Why We Asked Nigeria To Remove Fuel Subsidy by wirinet(m): 5:20pm On Apr 21
Lavor234:
I know for sure tuition is free in most Scandinavian countries
Not just Scandinavian countries, education is free in Russia, most countries of the Middle east, most of Europe, China, Japan and even Canada up till secondary school level.
Below are countries offering free or very cheap education to their citizens- https://www.onlinecollegeplan.com/what-countries-offer-free-college/
Politics / Re: IMF: Why We Asked Nigeria To Remove Fuel Subsidy by wirinet(m): 3:55pm On Apr 21
DeepSight:


You're not annoying and you don't make a mess. I find you extra ordinarily polite.

My issue is simple. I am still flabbergasted that anyone believes subsidies are the source of corruption in this country.
My brother you can't blame them, it due to decades of deliberate miseducation and indoctrination by IMF and World Bank.
How subsidies is the source of corruption is part of their economic theories taught to Africans but not taught to Scandinavia, Europe, Canada, the Middle east and other western nations. In most of those countries education is highly subsidised. Even in Russia education is almost free up till university level. Food also is highly subsidised with heavy subsidies to farmers. The worst is CAPITAL. In all these countries, capital to entrepreneurs are highly subsidised. Imagine interest rates of 1 to 5%, and you get a moratorium of up to 3 years before you start repayment.
IMF and world Bank would never cite bogus white elephant projects as the cause of our problem, they would never cite our 70% recurrent expenditure to 30% capital, which is usually misappropriated anyway. They would never theorise that billions and billions of dollars that is simply stolen/transferred out of our coffers and deposited in their banks is source of our underdevelopment. All they shout is subsidy, subsidy and subsidy.
They know that plunging the mass of the population into abject poverty is the surest means of causing instability. They know that a poor, hungry man is a tool for causing chaos. They understand that poverty along with religion leads to insurgency, militancy and conflicts. They had the experience during the revolutions in Europe and America where the poor caused so much instability. If you know how much the US spent during the great depression and even during Covid19, to subsidise the masses, you will understand they have sinister motives when they preach anti-subsidy doctrine to us.

4 Likes 2 Shares

Foreign Affairs / Re: US To Withdraw From Niger As Security Pact Fails In Strategic Victory For Russia by wirinet(m): 12:59pm On Apr 21
CSTRR:
China for all their noise, started to develop under Deng Xioping.

Who is Deng Xioping?
He was a brilliant administrator who opened up china to western investments, after decades of closure to the world which started under Mao.

Western investments and companies flowed in , and china became rich.

That's the story of china. It became rich because of America.

But somewhere in West Africa, countries are closing themselves to the west.
But China also closed itself to the west for centuries. When China opened up, it only restricted western trade and influence to a few port cities. China was at no time completely subjugated and overwhelmed by Western culture and influence.

The West had shown and still shows pure disdain and disregard for West Africa. Meanwhile we worship and adore them. We swallow all the insults and disdain with pride as long as they give us aid and Visa.

Please watch this interview by Harold Smith on why they handed power to the north through fraudulent elections and census. They prevent competent and patriotic leaders capable of developing the country from rising to power and promote mediocre and corrupt unpatriotic leaders, who bring their countries into ruin. This was the same situation all over west Africa.

https://www.youtube.com/watch?v=2gSbMescYwc?si=1nd1g5TCnsz8x8df
The seeds of that fraudulent election and census remains with us till today, and are factors that will never allow Nigeria rise above its current mediocre state.

I decided to post the full interview to reveal the plans of the British for Nigeria at independence.

1 Like 1 Share

Politics / Re: IMF: Why We Asked Nigeria To Remove Fuel Subsidy by wirinet(m): 10:01am On Apr 21
ON the other hand, over 50 years of subsidy are why we are not self sufficent in fuel and in power supply.

Sadly things cost money. Removing subsidy would enable domestic companies pay for stuff to make services better...which is good for Nigeria in the long run, and gasp...makes us less dependent , if not free from IMF.
False! Repeating the same lie over and over again can never make it true. The reason we are not self sufficient in fuel and power supply is CORRUPTION and STEALING by those saddled with managing our resources. It has nothing and I Repeat nothing to do with subsidy.

Obasanjo spentb $16 billion and was only able to add just over 1000MW into the grid.

In the last 10 years, Nigeria spent N25 billion to repair our refineries without producing a litre of petrol, this is despite billions of dollars stolen in the fuel subsidy scam, and you guys are shouting subsidy is the problem.

1 Like

Foreign Affairs / Re: US To Withdraw From Niger As Security Pact Fails In Strategic Victory For Russia by wirinet(m): 9:04am On Apr 21
SuccessfulRichi:
It Will never make your economy to get better bro. Control your resources black race. Venezuela did the same with Americans. Replaced them with china and Russia today they are begging USA to come back. Go and read their history.
We are in a better position to get better deals as we are now like a lady with two or even three potential suitors. We place our demand before each of them and go along with the best. The problem is that we have very selfish and unpatriotic leaders. They are still behaving like local chiefs in pre-slavery Africa that sold their own people for mandane material things like mirrors, hats and umbrellas. Our present leaders make stupid deals for stupid personal gains, and then relocate to countries of these colonialists after betraying their people.

1 Like 1 Share

Foreign Affairs / Re: US To Withdraw From Niger As Security Pact Fails In Strategic Victory For Russia by wirinet(m): 8:31am On Apr 21
Botragelad:

Are you ignorant or just against the US? International relations are changing. There's work being done, not perfect mind you, to create fairer partnerships.
Why get so emotional and personal? Does your loyalty lie more with the US than Nigeria?


Ever come across the African Growth and Opportunity Act (AGOA)? It's this initiative to open up the US market to eligible countries in Sub-Saharan Africa. These efforts are meant to boost economic growth and development that's beneficial for both sides. Are you aware of the amount of aid the US and other organisations send to Africa? You lot are still benefiting from free vaccines and such.
AGOA is just like curing cerebral malaria with paracetamol. How can we export to the US or anywhere when we are an import dependent nation? How can we export when we are not able to first meet local demand? We are still falling for the same economic trap the colonialists set up for us. We produce natural resources and goods for them cheaply, and then import food and essentials from them expensively. Awo, Zik and Balewa fell for this same trap. They were exporting groundnut, cocoa and coal to Europe while importing rice, chocolate and groundnut oil from them.
Where is the industrial capacity, power, infrastructure and capital to start exporting to the US under AGOA? This same AGOA will impose stringent packaging and quality conditions that are very very difficult to meet.
Now tell me exactly how many people do you know that is benefiting from AGOA? Are you one of them?

Look at Africa now, take Sudan as an example, they're reaping from the West, billions being sent.
Sudan ke? Which of the Sudans, south or the main Sudan? Sudan is your classical example of countries benefiting from the west? I hope you are being satirical.

As for the US's actions after World War II, the Marshall Plan for Europe and the backing of Israel were smart investments. They were motivated by a mix of humanitarian aid, economic self-interest, and strategic geopolitical factors during the Cold War. The US's dealings with Europe and Israel were shaped by the political climate of the era, including the aim to block the spread of communism and to form strong alliances in crucial areas.
So you mean African nations would be dumb investments if the US commit resources there like they did Europe and Israel? You also mean we were of no use or importance during the Cold War? If Africa was so useless, why are they now crying that Africa is considering looking east for their salvation?

This is the reason I like Trump to an extent, he doesn't bullshit that he likes Africa and want to help, while in reality hate Africa and Africans. He said his mind when he openly said he would prefer immigrants from Scandinavia than shithole countries (Africa).

How can you compare it to Africa nations which on the other hand, have been shaped by a completely different set of historical, political factors etc. It's a totally different situation.

Which continent benefited the US more in the past, Africa,Middle East or Europe? The wealth and prosperity enjoyed by the US, and Europe today was built on the resources and manpower of Africa.

3 Likes 2 Shares

Foreign Affairs / Re: US To Withdraw From Niger As Security Pact Fails In Strategic Victory For Russia by wirinet(m): 7:16am On Apr 21
Nolevel666:

The black monkeys will never learn

All they know how to build with their fish brains are hotels and bars while their mates a designing the latest weapon of massive destruction.

Spits

You forgot to add Chruches, Mosques and Shrines.

3 Likes

Foreign Affairs / Re: US To Withdraw From Niger As Security Pact Fails In Strategic Victory For Russia by wirinet(m): 6:38am On Apr 21
happney65:


And it is Russia that is best?

You are funny

Mark this down,In about a year or two,The Nigeriens will soon be calling for the head of Russia. They will prefer the Americans come back

May the universe spare our lives
With all the decades of American presence, what have we actually gained? Is it their absolute disdain for Nigeria and anything Nigerian? Is it their outrageous visa policy that scam Nigerians out of billions of dollars yearly? How many actual investments have the US done in Nigeria?

8 Likes 2 Shares

Foreign Affairs / Re: US To Withdraw From Niger As Security Pact Fails In Strategic Victory For Russia by wirinet(m): 6:33am On Apr 21
Botragelad:

Ooh. Russia is not going to 'enslave' you? 😂
In international relations, every country prioritizes its own interests first. This is true for the US, Russia, and all nations.

Similarly, if you consider Russia as an ally, they too would prioritize their national interests. It's a common practice in geopolitics for countries to engage in alliances that serve their strategic objectives.
Yes countries engage in alliances that serve their strategic objectives, but does it have to be a parasitic relationship? Sucking the life blood out of these poor African countries while giving little or nothing in return. That has been the nature of the relationship between African countries and Europe/US from the very beginning.

Why didn't the US employ the same doctrine of "strategic objectives" when dealing with European countries and Israel? The US spent billions in rebuilding Europe after the devastating war started by European themselves. They created military alliance and spent trillions defending Europe from themselves. They do the same with Israel, spending billions of dollars protecting Israel and helping their economy. But when it comes to Africans countries they remember the doctrine of strategic objectives.

31 Likes 5 Shares

Politics / Re: IMF: Why We Asked Nigeria To Remove Fuel Subsidy by wirinet(m): 12:39pm On Apr 20
malali:
[b]IMF ASKED YOU TO REMOVE SUBSIDIES WITHOUT ADEQUATE JOB PROVISIONS.
THESE WILL PROMOTE BRAIN DRAIN (JAPA)
THE PEOPLE YOU TRAINED FROM BIRTH TO 20 YEARS
WILL NOW MIGRATE EN-MASSE TO BECOME SLAVES IN WESTERN COUNTRIES.

HUMANS ARE THE NEW COMMODITIES
WHEN ABROAD THEY ARE USED FOR THE MORE MUNDANE MENIAL JOBS

WHILE THEIR OWN CITIZENS ARE FREED TO DO MORE INTELLECTUAL ACTIVITIES THAT WILL LEAD TO NEW DEVELOPMENT IN THEIR COUNTRIES.
NIGERIAN GOVERNMENT IS TAKING ADVISE FROM PEOPLE WHO CAME TO STEAL HUMAN BEINGS FROM AFRICA AS SLAVES (EQUIVALENT OF ENERGY AT THAT TIME) TO BUILD AND DEVELOP THEIR OWN COUNTRIES. NOW THESE PEOPLE ARE ASKING US NOT TO SUBSIDIZE POWER,KNOWING FULLY WELL CHEAP POWER IS DIRECTLY RELATED TO INDUSTRIALIZATION AND DEVELOPMENT.

SAUDI,IRAN,IRAQ,RUSSIA,VENEZUELA AND UAE ALL SUBSIDIZE PETROL/LNG.
EVEN THE USA ! BIDEN RELEASED THE SPR TO SUBSIDIZE/CRASH PETROL PRICE 2 YEARS AGO, SEE LIST OF AMERICAN SUBSIDIES BELOW !!

TELL IMF OUR PROBLEM IS CORRUPTION.[/b]

This is the new slavery or slave trade. You promote policies that impoverish the people and thus lead to instability, then you encourage the valuable manpower and the rich elites along with their capital to emigrate and develop the economies of the west. Finally due to instability you exploit the natural resources of these countries without paying the appropriate costs or ethics, thereby destroying the environment.

No one pays the poor more subsidies than the west, from food subsidies, to agricultural subsidies, to housing subsidies.

4 Likes

Business / Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by wirinet(m): 7:48pm On Apr 13
Enugurangers:

Someone I know even bought at 1800 thinking it would keep going higher, and all he had to do was wait and sell. Luckily for him, he was able to dump it at 1300, cut his losses and run. If he had waited abit more, his loss would have been greater.
Most Nigerians have no idea of currency trading. They buy and sell based on emotions and not on Technical or fundamental analysis. I bought naira at about N1600 to the dollar and quickly before it fell beyond N1500.
Business / Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by wirinet(m): 7:43pm On Apr 13
helinues:
cheesy

Serves right.

They are betting against their country currency as they never pray for the Naira to rise again.

There is nothing wrong with currency trading/speculation. It part of normal business like any other business. The problem is that our economy and thus the Naira is not that sophisticated, and so is not traded both physically abroad or digitally in the currency market. I trade Euro against the dollar, Pounds against the dollar and the dollar against the Japanese Yen on the currency market. I uses to trade USDT against the naira when it was available on the binance spot market.

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