Inception:
Question for you: the current exchange rate to the dollar not low enough?

Low enough for what?
Low enough to encourage more foriegn buyers(export sales) ?
Low enough to display international equitability by standard of value per quality provided?
Low enough to be a natural reflection of market and economic practices in a culture of corruption and price gouging?

It is what it is for the reasons it is. That is only natural. Focusing on manipulating the reasons behind it all rather than manipulating the banking flow, is the way to go.
The real factors driving naira low are still in place despite the detours and obstructions created by govt. in the banking sector. How about focusing on getting those devaluing factors off the road, or should i say out of the market and economy.
All trade and productivity is tied to the movement of currencies. Any obstruction or constraints placed on the currencies, will obstruct the flow of trade and productivity if not add increase to price of trading.

Are prices not high enough yet in Nigeria?
One reason the Naira falls is that prices in Nigeria are high beyond what is internationally equitable. Too much asked for too little quality.. This banking manipulation over the currency is having effect on prices and will have long term effect of putting weight on the Naira to help it sink.
Price controls and other measures within the market and economy itself are needed. The banking sector manipulation is just a superficial measure. Focus on Nigeria's quality of business practices, products and services. Infrastucture is starting to come up to help cradle a better environment for better business and quality, but i hope the people can adjust their culture and practices to keep in step with the need for better business.

19naia:


Low enough for what?
Low enough to encourage more foriegn buyers(export sales) ?
Low enough to display international equitability by standard of value per quality provided?
Low enough to be a natural reflection of market and economic practices in a culture of corruption and price gouging?

It is what it is for the reasons it is. That is only natural. Focusing on manipulating the reasons behind it all rather than manipulating the banking flow, is the way to go.
The real factors driving naira low are still in place despite the detours and obstructions created by govt. in the banking sector. How about focusing on getting those devaluing factors off the road, or should i say out of the market and economy.
All trade and productivity is tied to the movement of currencies. Any obstruction or constraints placed on the currencies, will obstruct the flow of trade and productivity if not add increase to price of trading.

Are prices not high enough yet in Nigeria?
One reason the Naira falls is that prices in Nigeria are high beyond what is internationally equitable. Too much asked for too little quality.. This banking manipulation over the currency is having effect on prices and will have long term effect of putting weight on the Naira to help it sink.
Price controls and other measures within the market and economy itself are needed. The banking sector manipulation is just a superficial measure. Focus on Nigeria's quality of business practices, products and services. Infrastucture is starting to come up to help cradle a better environment for better business and quality, but i hope the people can adjust their culture and practices to keep in step with the need for better business.

Brilliant response.Could'nt have said it better

Trailblazer1:
Ever since Amaechi started to hate money, naira has never remained the same


Please, do we now organise prayer for Naira?

loooooool. U sha o!

Gambling on point.

I hate networking business and all their tricks!! That changed when I was introduced to the NGN1000 group! All I had to spare was 1000naira (yes #1000) and I entered the tree to success. Making money isn't a walk in the park, but when it becomes too easy, then why not jump at it. The trick is simple...register with 1k, get 3 people to register under you with 1k each and those 3 people to get 3 other people and so on and so forth. As the tree grows, you all grow and start earning. All you need is 3people who are motivated to get 3more people. You could get as much as 300k within a short time if your cabal grows fast, and it gets into millions as it grows further!! And just for what? 1000naira!!!! Sounds ridiculous right? But I told myself, it's just 1k so I don't have much to loose. Ok enough of this long talk, click on this link to get started, then thank me later!!! http://www.ngn1000.org/08038183571A
Read more from the website.