jarkbauer:
LordAdam16


You are definitely a speculator. You want them to float the Naira so that guys like you can pounce on it and make it N1000/$. Tell me when did we float the Naira last?

And it seems you know more than the CBN guys. How i wish you can be made the CBN gov so that you float the Naira. But i will like to see your face when Naira falls to N1000/$ after a float, and how you will face the people of Nigeria as the CBN gov.

2 years ago Naira was less than N200 and you guys want us to believe the real value of the Naira is now 650/$. really? a more than 300% depreciation? haba.

And tell me the CBN Gov that did not defend the Naira with reserve?

Ask yourself $35B remittance yet Naira was on a free fall. Why? Where did all the dollars remitted go? Speculators and hoarding.

chiefsaif:

what is this one saying?

Firstcitizen:
Speculators, unqualified arm chair economists and hoarders who were bleating that it will not work have all gone quiet

budosky:
Push it back to where it was before the current administration came on board.. Then, you can be boastful.. Shikena

modelmike7:
Weldone my President. Only God knows how much dollar would have been by now if it was the corrupt Government that remain in power , maybe 900 Naira to a dollar.... Our economy was sitting on a time bomb all these wasteful past years, but the children of hate will never know that, they just keep blaming and hating blindly. God bless my president as he takes us back to the Promised Land.

chiefsaif:

what is this one saying?

twosquare:
Just SMH..see fools who can't see beyond the deception of this government...they can't seem to reason...are these the leaders of tomorrow? Then no hope....online transactions are blocked and you think this is the real value of the Naira? The cabals now are busy buying up the dollars behind close doors at a cheaper rate...and they will sell it to you again when CBN stops defending the Naira according to their dictates and price is up. It's all business and gimmicks...if you are wise now, better play the game with them.Buy dollars now when it is cheap and sell later coz the cabals will soon hike it....i tell you, it will surpass the N500 threshold.

Cc LordAdam16, Onatisi

4Play:


This una argument: oil prices were already low as of May 29, 2015. Besides, with all the fantastical tales of corruption involving the previous govt, one would have thought the emergence of the present govt, with its ultra-honest accounting for govt revenues, would have offset the impact of the oil price fall.

If the GEJ govt was looting all our money, and the Buhari govt isn't, why would an oil price fall be so painful for Nigerians when they were not benefiting much in the first place?

menama:
My perspective is that the CBN will deliberately keep the value of the naira btw (300 - 320) per dollar so as to balance btw the two extremes. Should the value approach 200 per dollar it will discourage exportation and encourage importation and local manufacturers will experience lesser patronage. It will also crash the price of agric commodities which will by extension make agriculture in general and farming in specific unattractive.

China, Japan, Indonesia, etc are all deliberately keeping dia currency low for the same reason.

The FG and SGs should increase dia minimum wage so as to increase the purchasing power of the people

deenee:




I hear that the plan is to keep the market depressed till Dangot's refinery comes on board around end of 2017 circa start of 2018.m

LordAdam16:


I no dey quote anybody wen mention me sef.

Most Nigerians are dumb. And the best thing is to profit from their dumbness not enlighten them, because that is a waste.

-Lord

LordAdam16:
CBN bring it on!

Since the lunatics in the CBN want to empty Nigeria's reserve by selling cheap dollars, let them continue.

If naira in the parallel market touches 305. I'll use my entire LGA and the oil wells in the LGA as collateral to take loan to buy dollars from the CBN.

Speculators are eating up cheap dollars right now, waiting patiently for the return leg.

-Lord

DLuciano:
cant you see how daft you are? still wondering how some reason

jarkbauer:


it was 199 not 185 and 250 at parallel

nairaman66:
Was that how the CBN met the Naira?? Just 305?? Take it lower than it was before and then you can be boastful Mr Emeifele!! Thanks

jarkbauer:


You are very stupid and dumb. Do you think you know everything? You talk like a wounded lion. Shame on you.

abescom:
They should stop the madness if the impact is not going to be felt by us. What's the point of the naira gaining grounds over the dollar if prices of commodities aren't going down?

Everyone especially people from certain regions in this country were shouting the rate of naira vs dollar was appalling which I agree ( even though I personally benefited from it). Now the dollar is now between N340 and N360 to a naira from the N520 record high but nothing has changed.

Unfortunately we still have prices of things in the market as high as anything but no one is talking about it? Many were quick to hurl abuses at the government and especially Buhari now the needful have been done but no one is criticising the disgusting marketers and market women who are our real problem.

Don't tell me for a minute that two weeks is not enough to crash down prices of stuffs that had gone up. Two weeks would certainly have been enough for them to skyrocket.

And don't tell me they need to sell what they have in stock before bringing new prices, they never had to wait before increasing their prices when prices was shooting up as if they were heading for the moon.

If only we can get on the back of the idiotas call importers, retailers, market women and etc as we do the government, maybe, just maybe things will change.

Am I angry? Yes, I am angry, it is obvious. £100 now has less value in naira terms which is what we want but the buying power is still as small as before when reverse should be the case. bleeping disgusting and rretarded bastados dem marketers, importers and market women.

LordAdam16:


Calling me names does not distort reality.

Curse, whine, and commit suicide even; what will happen will still happen.

Look at the attached file.

-Lord

Pesuzok:
The people comparing the rate it was in the previous administration should compare it completely.

What was the rate during the previous administration?

What was the price of crude during the previous administration?

What happened to our foreign reserve during the previous administration? (It is now obvious that it was depleted to defend the naira)

Adesiji77:
CBN is really serious about bankrupting speculators. If current trend is sustained, some of them may go back to their villages.

With this information, few people would be bold enough to buy at the parallel market NOW.

Bad market indeed for speculators...

Boss13:


The market is already floated - what do you think the interbank market is for? However, nobody else is selling other than CBN because of the different rates in the country. There are about 5 Fx rates in the country. There is the Oil marketer rate, Politician rate, Manufacturer rate, BDC/Travelex rate and Pallarel/Black market rate. What we should be talking about is rate convergence and that's what the CBN spokesman is saying.

Overall, I blame the CBN for this. I read in Punch yesterday that EFCC arrested two CBN directors for hoarding the dollars. There have been rumors about this and I also think the main currency speculators and hoarders in the country are CBN staff. Next to them are politicians and oil marketers who get the dollars cheap.

wristbangle:


You are just too sentimental for my liking. At the bolded, how much was oil price compared to the last quarter of 2016? It was just Dec 2016 that the price of oil start rising from all time low of $28 per barrel to the current price of $50 per barrel which is still below the price @ May 2016.

GEJ would have diversify the economy during oil boom but what do u have, still borrowing money to pay salaries, fund projects which are not critical to fix the economy in the long run.

I am not trying to defend the current administration who are clueless to fixing the mess created by the past administrations but you defending a failed hero still beats my imagination.

jarkbauer:



Lord Ko Servant ni I thought you said you dont quote your mentions hahahaha I abused you to get you angry and quote, and you did just so!!! I can see how smart you are. Olodo rabata

LordAdam16:


You abused me to get me angry?

Does that even make sense to you? You abused me because my analysis hurt your feelings. Which isn't a surprise. Fanatic patriotism is a dangerous trait.

Did you eventually get me angry? From all indications, NO.

I see you avoided the real topic of discussion. You see, I see your types everyday, holding unto false hopes and then it comes tumbling down. Makes for a good comic relief.

You are just one of more than 160 million pawns out there.

Now that I've shown you to be a bitter soul who needs an anger management class, I'll let you continue rattling on NL, while millions are easily made because of the stupidity of the FG.

-Lord