BlackPeni5:
Lol...good news is so scarce now in Nigeria that an ordinary BDC operator is being quoted on the fate of the Naira.

The Naira will continue to fall whether we like it or not because more people are losing faith in it. They'll rather store wealth in foreign currency.

12Monkeys:


My friend, stop talking trash!

MTN does not inject forex into our external reserves or economy.

Rather they take out our wealth back to SA.

If they shut down now, there will by the antecedent job losses associated with those that are employed directly or indirectly with MTN.

You should stop reasoning from your anus and appreciate the fact that the Nigerian economy as whole depends solely on forex earnings from oil sales and nothing else!

Even your satanic APC and Buhari dunce have bemoaned their inability to deliver on weak oil pricing, low output occasioned by militancy and no ready availlable buyer for Nigerian crude!

So stop spewing trash!

Proudlyngwa:

Like I said you are filled with bigoted assumptions,
You can't prove Buhari made any negotiations with the US.
I am in support of direct trade with China,and support boycotting the dollar
US govt does not control volume of crude into the US, actually it was Saudi that increased production and reduced price to punish US for renegading on a decision not to go into shale.

12Monkeys:


My friend you are myopic.

The US govt had effectively an economic, military and diplomatic standoff with Nigeria over increasing ties with China.

The WEF held in August, 2014 coincided with the hiegth of the BBOG scam but that did not deter china from unveiling a $30bn direct investment package with Nigeria.

This is when the US stepped up their game against GEJ to the point that the secretary of state visited Nigeria not to meet with govt officials but with opposition elements like Buhari and Tinubu.

The biggest problem with Africa is how we are able to quickly supply much needed traitors as leaders and the fact that most of us are ignorant in the inner workings of international diplomacy which you all wrongly assume boils down to polite and soft spoken diplomats wearing suits. This is the opposite. The inner struggles of world domination is full of organized crime, murder, espionage, sabatoures, and outright threats and blackmail.


But you exist on lala land to think all is as CNN and big black cuck reports it.

Proudlyngwa:

I can see you have no idea about international economics,
Do you pay Mtn in Naira or Dollar,
Do you even know how telecom companies make their money.
And am done with people who throw in APC when discussions are not going their way.
Can't we have meaningful economic and government related discussion without partisan politics,
Am out of here.

989900:
Lagos – A Bureau De Change (BDC) operator, Mr Harrison Owoh, on Monday predicted that the Naira might appreciate to N300 against the dollar within a week. Owoh said the CBN’s directive to banks to sell $30,000 to BDCs weekly could be responsible for the imminent gain against the dollar.

In an interview in Lagos, the Managing Director, H J Trust and Investment Ltd., said seven banks had already done documentation for customers. According to him, the ongoing documentation process was why the Naira had not appreciated immediately. Owoh said once the banks were through with the documentation, the Naira would begin to appreciate against the dollar. NAN recalls that the CBN had fortnight ago, announced additional regulatory measures aimed at improving dollar liquidity in the economy.

Specifically, the apex bank directed authorised dealers to sell foreign currency cash to BDCs, subject to a maximum $30,000 per BDC per week. In turn, each BDC was required to nominate only one preferred authorised dealer through which it would purchase its weekly foreign exchange.

The authorised dealers’ selling rate to the BDC was stipulated at its purchase rate from its approved International Money Transfer Operator (IMTO). Also, the BDCs were required to sell foreign exchange cash to end users at its purchased rate and a maximum margin of two per cent. Last week, foreign exchange market witnessed sustained depreciation of the Naira against the dollar in all segments as foreign currency supply remained inadequate.

vanguardngr.

12Monkeys:
For where?

It has gone beyond supply of dollars to total lack of confidence in the naira and the ailing economy.

People like me will rush and buy at 340!

Nigerians with the means and foresight are dumping the naira because there is no investment prospect in Nigeria today owing to the clueless and directionless economic policies of the Dullard's govt.

12Monkeys:


You don dey deny how you were jumping up and down saying Buhari has done a master stroke with the yuan deal.

Let Buhari try it and see if Washington won't assassinate him immediately .

DropShot:

Why not relocate or renounce your citizenship?

@ topic, if the CBN directive can be implemented, monitored and sustained, Naira should appreciate continuously.

12Monkeys:


My friend you are myopic.

The US govt had effectively an economic, military and diplomatic standoff with Nigeria over increasing ties with China.

The WEF held in August, 2014 coincided with the hiegth of the BBOG scam but that did not deter china from unveiling a $30bn direct investment package with Nigeria.

This is when the US stepped up their game against GEJ to the point that the secretary of state visited Nigeria not to meet with govt officials but with opposition elements like Buhari and Tinubu.

The biggest problem with Africa is how we are able to quickly supply much needed traitors as leaders and the fact that most of us are ignorant in the inner workings of international diplomacy which you all wrongly assume boils down to polite and soft spoken diplomats wearing suits. This is the opposite. The inner struggles of world domination is full of organized crime, murder, espionage, sabatoures, and outright threats and blackmail.


But you exist on lala land to think all is as CNN and big black cuck reports it.

Proudlyngwa:

I have asked that question before in a similar thread, half of our imports are from China, we have a trade relationship with them, why do we need the dollar.

12Monkeys:




All wars Washington has fought since the end of WW2 was to ensure that the dollar remains the dominant currency of trade!

12Monkeys:


My friend you are myopic.

The US govt had effectively an economic, military and diplomatic standoff with Nigeria over increasing ties with China.

The WEF held in August, 2014 coincided with the hiegth of the BBOG scam but that did not deter china from unveiling a $30bn direct investment package with Nigeria.

This is when the US stepped up their game against GEJ to the point that the secretary of state visited Nigeria not to meet with govt officials but with opposition elements like Buhari and Tinubu.

The biggest problem with Africa is how we are able to quickly supply much needed traitors as leaders and the fact that most of us are ignorant in the inner workings of international diplomacy which you all wrongly assume boils down to polite and soft spoken diplomats wearing suits. This is the opposite. The inner struggles of world domination is full of organized crime, murder, espionage, sabatoures, and outright threats and blackmail.


But you exist on lala land to think all is as CNN and big black cuck reports it.

12Monkeys:
I admire the OP's optimism .


But oga OP what happened to the Chinese Yuan currency deal you were promoting all over this section?


Yeye

12Monkeys:


Look at this mor0n?

MTN repatriates over 50bn naira annually back to SA.

That money is transferred through central bank which credits the SA account of MTN in dollars.

Must I spell eve thing out for you?

And besides it was your foolish APC that wanted to extort MTN with a fine of $2bn to fund their useless scam budget.

Dolts!

Proudlyngwa:

Like I said you are filled with bigoted assumptions,
You can't prove Buhari made any negotiations with the US.
I am in support of direct trade with China,and support boycotting the dollar
US govt does not control volume of crude into the US, actually it was Saudi that increased production and reduced price to punish US for renegading on a decision not to go into shale.

12Monkeys:


Because if Buhari tries sh1t in moving our reserves from the dollar that is the day his Presidency ends.

Buhari and the Useles APC were supported by Washington for this sole purpose to enslave us to western banks .

Ask Ghadafi, Chavez why they are all long dead and they will tell you it's because they wanted to dump the dollar.

Avalon316:
@989900

[s]Bro, the opposite of whatever you post always happen. I've been monitoring some of you hungry naija economists.[/s]