Arbiter9:
Emefiele again

I tire o

I asked them this same question on one of the threads

They "occupied nigeria" when Jonathan tried this almost a decade ago...the worst would've been over by now.

Their level of hypocrisy is nauseating and epic.

They just come under different name/moniker everyday and start talking trash, defending rubbish because they can't accept to be du*b.

Makes you wonder where they abandoned their brains.

The love of money is truly the root of all evil...unfortunately, most of them here and all over are nothing but starving minions who can't even survive the economic hardship brought on by their ignorance.

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!!

CondenseMilk:
Unfortunately aboki's are the ones who determines Nigeria FX mark!

Tinubu should scrap this black market...

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.

I don't thin your logic will apply in this context sir.

The black market as.at yesterday in Lagos sold at 750 naira averagely even after the news.

The aim of Tinubu's economic team is to bring to a parallel the official and black market rates.

Buhari was not business oriented and almost killed all business concerns within the country. The major business of his Aboki cohorts was BDC so he created that huge, unimaginable margin of about N400. They were cashing out heavily at the expense of Nigerians.

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.

Don't you know the naira is overvalued....it is being strongly defended by our foreign reserves which is a lacuna in the first place.......the real value is what you get on the streets and all efforts must be geared towards unifying both official and black market to eliminate unbridled arbitrage on the part of Shylock dollar merchants.

This is to tell you how this government will be , they will say something and be boldly doing the opposite. We are in for a very long thing. Lord have mercy on us.

Niger is on roller coaster

dyera:


If they want to unify the naira exchange rate, the idea is to figure a way to bring the parallel market down to the official rate. Devaluing the naira official rate is absolutely reckless.

They won't. That's some people's cash cow since time immemorial, including the big boys in the banks.

CBN is the one known for causing confusion here. The memory is still fresh, they can't be trusted to come clean

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

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.

Kid!

Tinubu go show Nigerians shege

Greattha:
I asked them this same question on one of the threads

They "occupied nigeria" when Jonathan tried this almost a decade ago...the worst would've been over by now.

Their level of hypocrisy is nauseating and epic.

They just come under different name/moniker everyday and start talking trash, defending rubbish because they can't accept to be du*b.

Makes you wonder where they abandoned their brains.

The love of money is truly the root of all evil...unfortunately, most of them here and all over are nothing but starving minions who can't even survive the economic hardship brought on by their ignorance.

Most of them clearly know what they are doing. They know tinubu very well buh cant help to see someone from there tribe assume the office. Its so funny he didnt put any measures in place before removing the subsidy and they are the one suffering the most.

Basicend:


I don't thin your logic will apply in this context sir.

The black market as.at yesterday in Lagos sold at 750 naira averagely even after the news.

The aim of Tinubu's economic team is to bring to a parallel the official and black market rates.

Buhari was not business oriented and almost killed all business concerns within the country. The major business of his Aboki cohorts was BDC so he created that huge, unimaginable margin of about N400. They were cashing out heavily at the expense of Nigerians.

I am not trying to explain "technicalities behind the policy" and how Tinubu economic team is trying to implement it. I tried explaining to the guy the "layman" meaning of devaluation and how it usually influence the economy. Like you said in my opinion it is too early to judge any of BAT fiscal or monetary policies, I just hope for all the policy plan there is a robust framework and contingency to avoid excuses or blame game. The policy might be implemented favourably but again time will tell.

The people are really bent of making Nigerian masses suffer while they enrich th self's.
GOD BLESS NIGERIA

They are running a successful CBN better than the Balablu, blublu bulaba

The Newspaper is sure and daring the CBN to go court.
MBOK

BAD CITIZEN DOING THEIR SELF CRYING AND MENTIONED ENEMY

dyera:


If they want to unify the naira exchange rate, the idea is to figure a way to bring the parallel market down to the official rate. Devaluing the naira official rate is absolutely reckless.

I think its the other way round, the black market is the true reflection of the forex market without all the support and cosmetics, to unify the exchange rate, they have to let of the official rates.

Lithiumite:


Don't you know the naira is overvalued....it is being strongly defended by our foreign reserves which is a lacuna in the first place.......the real value is what you get on the streets and all efforts must be geared towards unifying both official and black market to eliminate unbridled arbitrage on the part of Shylock dollar merchants.

Naira is overvalued at #460?

Daily Trust shouldn’t bother to establish their reputation. Don’t wrestle with a pig. He will enjoy rolling in the mud but you will be dirtied!

Israel07:


Naira is overvalued at #460?

Pls what should it be

I'd advise those still hoarding dollars in anticipation of selling at 755 to begin selling sharply. Dollars fell to 715 naira at the black market yesterday. The implication of the recent policy is, dollar will be made available to anyone who needs it at 635, including the bdcs. The difference between the official and black market rates won't be much, as we once had it some years back. I see dollar trading at 655 at the black market soon cos it will be available to every bidder, including the BDCs if you now wish to approach the bank to get fx at the official rate, you'd need to present your TCC to enjoy the rate difference

Same CBN which mandated banks through circular to collect old currency that is N500k and below, only to deny and delete the Said circular from their social media platforms and their website.

I stand with daily trust.

Eriokanmi:
I'd advise those still hoarding dollars in anticipation of selling at 755 to begin selling sharply. Dollars fell to 715 naira at the black market yesterday. The implication of the recent policy is, dollar will be made available to anyone who needs it at 635, including the bdcs. The difference between the official and black market rates won't be much, as we once had it some years back. I see dollar trading at 655 at the black market soon cos it will be available to every bidder, including the BDCs if you now wish to approach the bank to get fx at the official rate, you'd need to present your TCC to enjoy the rate difference

Story. No one has ever lost betting against Nigeria.

Raheeqilmaktoom:


They just won't call it devaluation but one funny name.

They called it "Unified Rate".

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.

I think you need to reclaim your brain first

[If I may ask you what is the black market rate as of today 02 June ,2023]

If your level of deductive reasoning hasn't passed 1 + 1, that doesn't mean everyone is like you.

They have proof CBN sold dollars at N630.

CBN sets the official rate, and will only sell dollars at that rate.

What can you infer from these two pieces of information?

Investigative journalism is about reporting facts, not government announcements.[/quote]

With you standing on your ground that the story is valid and also claiming to have produced journalists who are working for the cbn, its safe to say that we know where you got the intel from

If I may ask you what is the black market rate as of today 02 June ,2023









If your level of deductive reasoning hasn't passed 1 + 1, that doesn't mean everyone is like you.

They have proof CBN sold dollars at N630.

CBN sets the official rate, and will only sell dollars at that rate.

What can you infer from these two pieces of information?

Investigative journalism is about reporting facts, not government announcements.








[If I may ask you what is the black market rate as of today 02 June ,2023
[color=#990000][/color]

Eriokanmi:
I'd advise those still hoarding dollars in anticipation of selling at 755 to begin selling sharply. Dollars fell to 715 naira at the black market yesterday. The implication of the recent policy is, dollar will be made available to anyone who needs it at 635, including the bdcs. The difference between the official and black market rates won't be much, as we once had it some years back. I see dollar trading at 655 at the black market soon cos it will be available to every bidder, including the BDCs if you now wish to approach the bank to get fx at the official rate, you'd need to present your TCC to enjoy the rate difference

Where is the CBN going to get the dollar from to make it available to anyone that asks? Perhaps you don't realize the reason for the previous dollar scarcity. Nigeria nor get money (foreign exchange), and Nigerians request for forex for even the most mundane things. So we have a demand that is more than supply which makes it difficult for the CBN to keep up, hence the parallel market.

Hmmm, this is serious

Youngkaro45:


The problem you people have is that you don't read and improve yourself, na only hatred fill your heart. [/b]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,[b] so the coming administration will just effect it.

Removed sentiment aside, Buhari signing subsidy removal before leaving office says the effect begins in July so it takes a good thinking incoming president to put things in place before the removal takes effects to avoid what we are currently facing now. Tinubu might had good leadership skills but not now that he is suffering from Dementia and his brain not functioning properly. That’s why we need a quality leader. He will soon jet out to do top up as usual. Cabal will continue to use him as they used Buhari to loot this country.