Nice one

chatinent:
My concern is on virtual dollar card retailers...eg. Payday. They've been so irrational.

Do you use the app Payday.. what exactly is wrong..purchased dollars for over a week..it is yet to reflect

Fear women
Fear pastors
Fear Nigerian banks

seanfer:


As it is now with the CBN removing the embargo on oil companies selling Dollars to banks, the Naira should appreciate between 10%-15% by the end of the year.. The CBN just need to monitor the banks and sanction/punish any bank that try to sabotage this policy for their own selfish reason....

Dunno if it would be immediate though. They have backlogs to pay and there are also maturing debts this month (500 million dollars).

BigDawsNet:
Hmmm.. do you guys think with unified exchange rate and naira devaluation policy the Dollar will come down before the end of the year?

If the oil companies with probably billions of Dollars enter the market, it should lead fo a strengthening.

But what would really aid an appreciating is for the CBN to become hawkish regarding inflation and boost interest rates to a point where it begins to bring inflation down, perhaps hiking interest rates to 25.5% as suggested by the Bank of America.

If this is done, the Naira should strengthen to between 650-700.

tete7000:


I always tell people that one of the most unpatriotic people on earth is Tinubu and his APC cohorts. Those guys oppose every reasonable policies of Jonathan's administration to paint the government black and walk their way into power. As far as they are concerned, the end no matter how irrepressible justifies the means.

The only thing that was really opposed was the fuel subsidy removal.

mokset123:
FYI his number 1 supporter was tinubu who ensured he contested again in 2019 for his own selfish gain even when he may have realized the man was a disaster.

grandstar:


The only really opposed was the fuel subsidy removal.

tete7000:


I always tell people that one of the most unpatriotic people on earth is Tinubu and his APC cohorts. Those guys oppose every reasonable policies of Jonathan's administration to paint the government black and walk their way into power. As far as they are concerned, the end no matter how irrepressible justifies the means.

Back Then Tinubu even told Saraki that even if Buhari is on stretcher, he will support him because of his ambition

GeneralDae2:

Dunno if it would be immediate though. They have backlogs to pay and there are also maturing debts this month (500 million dollars).

They can renegotiate the debt repayment plan...

Nbote:
Seriously ehn, anyone who supported Buhari should be shot on sight. That useless Mai Suya with his useless "Darling Daddy" rantings should be sent to mop Bar beach. That relic set this nation 50years back

Have you noticed that “our darling daddy” crooner on this platform has not mentioned a single word about him for ages? He has moved his support to BAT.

mokset123:
FYI his number 1 supporter was tinubu who ensured he contested again in 2019 for his own selfish gain even when he may have realized the man was a disaster.

Don't mind them. They are destroying the country for selfish gains and claiming to be patriots

tete7000:


I always tell people that one of the most unpatriotic people on earth is Tinubu and his APC cohorts. Those guys oppose every reasonable policies of Jonathan's administration to paint the government black and walk their way into power. As far as they are concerned, the end no matter how irrepressible justifies the means.

that was political strategy is left for either u, LP, PDP etc to also oppose their own policies now that they are in power

Nbote:
Seriously ehn, anyone who supported Buhari should be shot on sight. That useless Mai Suya with his useless "Darling Daddy" rantings should be sent to mop Bar beach. That relic set this nation 50years back

Relic indeed is a typical assistant relic now he can't talk. Buhari is a monumental disaster

Zupay:


Tinubu was the chief marketer of Buhari's presidential ambition for his own selfish political ambition which is to become President, himself......so, how many millions of Nigerians that got thrown the pit of excruciating poverty was none of his concern.

If Tinubu marketed Buhari, the onus lie on the electorates to reject Buhari. Was it Tinubu that made up the over 10million voters that brought Buhari in?
Secondly, which one is Tinubu selfish political ambition? He has interest in contesting for the post of president, does the constitution not permit him to exercise this right? If you're also interested, nothing stops you from declaring your interest, period.

grandstar:


The only really opposed was the fuel subsidy removal.

That's not true. They were also behind the depletion of the ECA when they took FG to court claiming the existence of that account was illegal and the money should be shared.
Same irresponsible lots later came back to accuse Jonathan of emptying ECA.
Shameless people. They brought Nigeria to the sorry pass it is.

Shantyken:
that was political strategy is left for either u, LP, PDP etc to also oppose their own policies now that they are in power

Can you hear nonsense? So the country should be sacrificed on the altar of political strategy?
All of the US, both Republican and Democrats agree the US needs to back Ukraine against Russia because they realise it's important for their country to retain its global power status.
If your politicians don't know where to draw the line between politics and the nation's interests, then the country is headed for the rocks

Nbote:
Seriously ehn, anyone who supported Buhari should be shot on sight. That useless Mai Suya with his useless "Darling Daddy" rantings should be sent to mop Bar beach. That relic set this nation 50years back

"Mop bar beach" no be vawulence be dis

grandstar:


If the oil companies with probably billions of Dollars enter the market, it should lead fo a strengthening.

But what would really aid an appreciating is for the CBN to become hawkish regarding inflation and boost interest rates to a point where it begins to bring inflation down, perhaps hiking interest rates to 25.5% as suggested by the Bank of America.

If this is done, the Naira should strengthen to between 650-700.

But hiking interest rates will contract the economy while Tinubu is pursuing liberal policies

grandstar:


If the oil companies with probably billions of Dollars enter the market, it should lead fo a strengthening.

But what would really aid an appreciating is for the CBN to become hawkish regarding inflation and boost interest rates to a point where it begins to bring inflation down, perhaps hiking interest rates to 25.5% as suggested by the Bank of America.

If this is done, the Naira should strengthen to between 650-700.

650-700?
It's currently around 760..

I thought it may drop below 500

Kukutenla:

Can you hear nonsense? So the country should be sacrificed on the altar of political strategy?
All of the US, [b]both Republican and Democrats agree the US needs to back Ukraine against [/b]Russia because they realise it's important for their country to retain its global power status.
If your politicians don't know where to draw the line between politics and the nation's interests, then the country is headed for the rocks

Then let every party backed Tinubu's government

chatinent:
My concern is on virtual dollar card retailers...eg. Payday. They've been so irrational.

I saw one on Twitter. When I saw the mark up and the charges, I knew I had to continue with my bank USD card

Racoon:
There would still be forex scarcity because the banks are another crooked institutions entirely.

Any Bank caught will be seriously sanctioned

Asiwaju is the President not Pandora

Nbote:
Seriously ehn, anyone who supported Buhari should be shot on sight. That useless Mai Suya with his useless "Darling Daddy" rantings should be sent to mop Bar beach. That relic set this nation 50years back

With this useless tax cut for not manufacturing nothing

I think the government.should have direct the banks to give soft lone to small scale business for six months free tax
To close the gap between production and consumption

Lone is. O .5% after six month and see how the country progress with proper monitors

Kukutenla:

But hiking interest rates will contract the economy while Tinubu is pursuing liberal policies

Most liberal policies support low inflation and by extension, if needed, high interest rates to subdue inflation.

Low inflation is best for rapid long term economic growth.

All these are cosmetic surgery done on the economy that only only appreciate the naira marginally.The naira has been destroyed beyond redemption, we should not focus on making the naira strong against the dollar but try to restart the economy by making it productive.Get people back to work,industrialization,help SMEs out,create Jobs, look into technology and how we can if possible train our youths in IT which is the new bride then we won't have to be worried if the naira is at 800 as it would find it's natural value.

grandstar:


If the oil companies with probably billions of Dollars enter the market, it should lead fo a strengthening.

But what would really aid an appreciating is for the CBN to become hawkish regarding inflation and boost interest rates to a point where it begins to bring inflation down, perhaps hiking interest rates to 25.5% as suggested by the Bank of America.

If this is done, the Naira should strengthen to between 650-700.

Nbote:
Seriously ehn, anyone who supported Buhari should be shot on sight. That useless Mai Suya with his useless "Darling Daddy" rantings should be sent to mop Bar beach. That relic set this nation 50years back

Who sold Buhari to Nigerians?

Is it not Tinubu/APC?

bewla:
With this useless tax cut for not manufacturing nothing

I think the government.should have direct the banks to give soft lone to small scale business for six months free tax
To close the gap between production and consumption

Lone is. O .5% after six month and see how the country progress with proper monitors

*with proper monitors* please where do you expect to get uncompromising people in Nigeria to build such a team or set up?

tete7000:


I always tell people that one of the most unpatriotic people on earth is Tinubu and his APC cohorts. Those guys oppose every reasonable policies of Jonathan's administration to paint the government black and walk their way into power. As far as they are concerned, the end no matter how irrepressible justifies the means.

Ibo people ruined Jonathan government

grandstar:


Most liberal policies support low inflation and by extension, if needed, high interest rates to subdue inflation.

Low inflation is best for rapid long term economic growth.

Liberal policies also support low interest rates so that businesses can access liquidity to increase commercial activities which will in turn improve GDP. Inflationary pressure is always a by-product of liberal policies and the idea is always to stabilise it within single digits.
High Interest rates imply you want your economy to contract not expand. Except we are producing too much in your assessment.

Can somebody explain this to me?
How does oil companies sell dollars? Are they some type of banks holding dollars?
Tinubu seem to be working for these racist Caucasian globalist plunder our wealth. Let me keep watching.

Shantyken:

Then let every party backed Tinubu's government

Why didn't Tinubu's party back the Jonathan govt then?
I've seen some APC supporters claim PDP are a very weak opposition. While i agree, what is lost on them is that the reason PDP might be weak is because they have been in govt and understand more about it so they see no reason to just criticize for the fun of criticising.
Meanwhile, you have to be honest enough to admit in hindsight that Tinubu was wrong to organise against fuel subsidy removal in the end. That's something that's glaring for everyone to see.

BigDawsNet:


650-700?
It's currently around 760..

I thought it may drop below 500

Not possible.

Even if it drops below 500, that would mean monetary policy is tight and it would to a dramatically fall in prices, which will enable the central bank bring interest rates down.

A strong Naira won't favor government revenues much as a large chunks of their revenue is dollar denominated and that means they'd receive less Naira monthly as allocations when converted into Naira.
I must reiterate is that should the exchange rate hit N500, it would enable the CBN bring down interest rates to more affordable levels. This is something Tinubu has always yearned for.

[quote author=Nbote post=124263134]Seriously ehn, anyone who supported Buhari should be shot on sight. That useless Mai Suya with his useless "Darling Daddy" rantings should be sent to mop Bar beach. That relic set this nation 50years back[/quote
But Tinubu supported buhari