boltwings:
it is true. Same CBN denied devaluing naira when it was 430 but later on accepted that it was devalued. This devaluation will be the beginning of the fall of Tinubu. I pray Peter Obi reclaims the mandate because the problem will get worse with a deluded criminal leader like Tinubu.

KingKO22:
Daily confusion should put their fact together before creating unnecessary speculations

KingKO22:
Daily confusion should put their fact together before creating unnecessary speculations

ivolt:
Daily Trust is right.
CBN indeed sold dollars for 630/N.

If you know anyone who regularly uses the I&E window, you can also confirm from them.

boltwings:
it is true. Same CBN denied devaluing naira when it was 430 but later on accepted that it was devalued. This devaluation will be the beginning of the fall of Tinubu. I pray Peter Obi reclaims the mandate because the problem will get worse with a deluded criminal leader like Tinubu.

boltwings:
it is true. Same CBN denied devaluing naira when it was 430 but later on accepted that it was devalued. This devaluation will be the beginning of the fall of Tinubu. I pray Peter Obi reclaims the mandate because the problem will get worse with a deluded criminal leader like Tinubu.

tonytony208:


Does that mean black market rate will further fall?

boltwings:
it is true. Same CBN denied devaluing naira when it was 430 but later on accepted that it was devalued. This devaluation will be the beginning of the fall of Tinubu. I pray Peter Obi reclaims the mandate because the problem will get worse with a deluded criminal leader like Tinubu.

KingKO22:
Daily confusion should put their fact together before creating unnecessary speculations

iwaeda:


https://dailytrust.com/devaluation-we-stand-by-our-story-daily-trust-replies-cbn

Teenaira:


If a criminal like Peter Obi is allowed to rule Nigeria, then the country is finished. Otilo.

Raheeqilmaktoom:


Some of fed govt agencies are very guilty of what Daily Trust mentioned, they won't call it devaluing but rather a funny name.

Moving the official exchange rate from 450 to 640 in a day is nothing but devaluation, don't know what the apex bank is running away from.

KingKO22:
Daily confusion should put their fact together before creating unnecessary speculations

iwaeda:


https://dailytrust.com/devaluation-we-stand-by-our-story-daily-trust-replies-cbn

Youngkaro45:


The problem you people have is that you don't read and improve yourself, na only hatred fill your heart. If your preferred candidate had won the election, he would have removed fuel subsidy as well because Buhari had already signed it before leaving office, so the coming administration will just effect it.

vikstandon:
Is True!

NNPC to us no panic buying... the subsidy would kick of June ending... But by May 31 there was a newly reported Pump price.

No smoke without fire.

Yampotatocarrot:


Please, I don't understand this devaluation stuff... Kindly explain. Is it supposed to be a good thing for the economy or not?

(I just read where someone posted that it'll be the fall of Tinubu's administration... Is the devaluation really a bad thing per say?)

Agadinaagwuofe:


Well...it seems nobody wants to give you heads up so let me oblige you. Devaluing naira simply means CBN officially raise the naira value against dollar in exchange rate. To put it in perspective, it means the official exchange rate against dollar which initially is #460/$1they have made it #630/$1. It is not a good sign because the black market rate will sky rocket and that's where most buyers get their exchange. This will increase cost of importation which will also increase prices of all the goods you will buy since Nigeria's economy solely depend on importation. This is layman explanation.

Blaze14k:


Lol where is the hate in my statement am only sympathising with him. Secondly dont forget its on the record u ppl played the most tribalistic politics in the history of nigeria this year. So dont come here trying to lecture me on hate. Besides i dont give a damn who ends up the president, nigeria will remain a shit hole like it or not.

This same man who took off the subsidy is the same man who opposed Jonathan when he wanted to take it off and u want to lecture me on hate. Do u actually know the kind of money we would have saved. See oga take ur time dont get me angry. Just mind ur damn business and save ur mandate. Nonsense!!

Yampotatocarrot:


Thank you for your explanation, I really appreciate.

Nfora:
Junk Journalism

A Customer says he/she bought dollars from CBN at N641,without any official confirmation or pronouncement from CBN, you then rush to the press that CBN had devalued the Naira!

Rubbish!!

boltwings:
it is true. Same CBN denied devaluing naira when it was 430 but later on accepted that it was devalued. This devaluation will be the beginning of the fall of Tinubu. I pray Peter Obi reclaims the mandate because the problem will get worse with a deluded criminal leader like Tinubu.

boltwings:
it is true. Same CBN denied devaluing naira when it was 430 but later on accepted that it was devalued. This devaluation will be the beginning of the fall of Tinubu. I pray Peter Obi reclaims the mandate because the problem will get worse with a deluded criminal leader like Tinubu.