Elvis2kay:
All dollars account must be close. This is Nigeria and Naira is what we spend. No Naira account is allow in USA.

Your logic is very flawed. Can Naira be accepted for settlement of transactions internationally?

It this type of thinking that has gotten us to where we are. So if the government bans its citizens from holding foreign currency, what's next? Does that suddenly stop the country from hemorrhaging it's resources to wanton corruption? Or does that fix the fact that we have no other viable source of income asides oil?

And you can open foreign currency accounts in the US and other developed economies, so I fail to see your point.

Jokers

No be only crash, na accident.

money121:
Good news

you mean good news, hhhhmmm you better start your own production,so that you won't continue to be slave under American currency

AS YOUR MENTALITY DID NOT ALLOWED YOU TO PRODUCED WHAT YOU NEED IN NIGERIA, YOU REMAIN SLAVE TO THE DOLLARS,NO MIRACLE FOR THIS

Ikaeniyan0:
Please carry all this senseless screenshot comot my front. On the article, the reporter went to meet Aboki and he wrote the price they were calling in the article, you're here showing me nonsense screenshot from the comfort of your hut in the red mud republic.

Not your fault, the word Parallel to you meant Aboki...I should've understood better dum.

oloriooko:
stop swallowing every news hook line and sinker and stop this senseless "obi supporter" thing cuz we are all in this together irrespective of who you voted for
stop beating about the bush, grow up and face the reality
as at this morning a pound goes for 1182ngn
stop propagating false senseless news cuz daily trust posted it
what will make a dollar crash over night without attendant calculated definite economic steps over a period of time
FYI a dollar goes for 935-940 in the real parallel market today not in your parallelogram market

finally a question for you, do you even buy dollar or pound?

it has actually come down from 940 yesterday to 910 today cause I bought Dollars yesterday and could have used the savings.....ps you should know the fx market is all about speculation all it takes is for two three people to lay down a quote and shift the entire market especially the parallel market.....

oloriooko:

you cracked me up

dollar crash my foot!

I'm not a fan of Tinubu and his visionless apc party but I bought dollar at 810 at Allen avenue around 4pm yesterday. I hope it crashes further because it will favour us the more.

These speculators are the problem of the fx market..what Tinubu should do is pump more dollars to stabilise naira, if he has the balls to do so. Western policy introduced is killing Nigerian economy.
He's such a visionless leader . What the Nigerian economy is going through right now is as a result of dictates from the west.

Elvis2kay:
All dollars account must be close. This is Nigeria and Naira is what we spend. No Naira account is allow in USA.

we buy everything internationally in dollars

What do we sell compared to what we buy

We are am importing nation not exporting that's why dollars is very relevant

leisuretym:
How can their own currency be so powerful when we are the one that have the gold, oil and diamonds , these people keep coming here with piece of paper for us to sign , they keep coming with nothing but baseless arguments in exchange for our resources , every Anglo and Franco German Agreement with our illiterate grand fathers should be terminated, we are not part of it, how can 1 dollar be 700 Naira when we are the one blessed with everything?
This scam is got to stop 🛑

start exporting

You buy everything internationally with the dollars

Nobody dey do us

Taylor90:
Parallel market ko parallelogram junction ni


No go bank or meet Aboki to sell dollar for you @ N790 oo if not na slap them go use cover your face

Shut up, we know you are always happy for bad news, you will not give this same reaction when it's going up.

Elvis2kay:
All dollars account must be close. This is Nigeria and Naira is what we spend. No Naira account is allow in USA.

Most currencies are pegged against the dollar. Banks operate dollar accounts all over the world. We should not go back to days of trade by barter economics with archaic and non flexible policies.

Eriokanmi:
I'm not a fan of Tinubu and his visionless apc party but I bought dollar at 810 at Allen avenue around 4pm yesterday. I hope it crashes further because it will favour us the more.

These speculators are the problem of the fx market..what Tinubu should do is pump more dollars to stabilise naira, if he has the balls to do so. Western policy introduced is killing Nigerian economy.
He's such a visionless leader . What the Nigerian economy is going through right now is as a result of dictates from the west.

Pumping dollars doesn't work. We have powerful people ready to mop up the flood of dollars. They work with the banks and BDCs and are not tired of the huge easy gains on round tripping.

mvem:
start exporting

You buy everything internationally with the dollars

Nobody dey do us

Nah only you sabi analyze economy and import minus exports huh? Sit down there

complexstuffs:



See as IPOB cannibals dey foam for mouth...

You do dey alright las las

Now it's IPOB. You're just hope.. Less

Image123:


Pumping dollars doesn't work. We have powerful people ready to mop up the flood of dollars. They work with the banks and BDCs and are not tired of the huge easy gains on round tripping.

Rescuing currency with usd isn't only a Nigerian practice. It's done in all dollar-driven economies globally. The onus is on the leader of that country to monitor the disbursement and place a heavy sanction on erring agencies or banks. Across Europe, there's an agency called Travelex. There are others too who act like the bureau de change and sell fx to those who need them. I've bought usd and euro from Travelex in France, Germany and Switzerland in the past at their airports, Dubai too. There was a time they came to Nigeria.

But here, corruption may not allow this to work effectively but in a way, it would strengthen the naira. The federal government should reach out to registered bdc as they did in the past when the pdp was in power and allocate fx to them for sale to the public and monitor compliance. There was a time in this country when usd was almost same in rates both at the official and parallel markets. It was because bdcs were allocated fx constantly. Doing this will strengthen the naira and put less pressure on it. I hope the dollar crashes further cos I've got loads of fx transactions to make. I've been waiting since June.

So does it mean CBN and the president are behind all these nonsense, I mean since buhari time and Tinubu's time..?

Elvis2kay:
All dollars account must be close. This is Nigeria and Naira is what we spend. No Naira account is allow in USA.

I am sure you only have waec certificate.


No sane person will think this.

Like how.

Naira is not in demand.

Wetin you dey produce wey people go need naira.

Go sleep.

It’s really crashing…

pls confirm the bolded
or did u mean 910?

Eriokanmi:
I'm not a fan of Tinubu and his visionless apc party but I bought dollar at 810 at Allen avenue around 4pm yesterday. I hope it crashes further because it will favour us the more.

These speculators are the problem of the fx market..what Tinubu should do is pump more dollars to stabilise naira, if he has the balls to do so. Western policy introduced is killing Nigerian economy.
He's such a visionless leader . What the Nigerian economy is going through right now is as a result of dictates from the west.

tommy589:
Interesting.
Maybe implementing the policy of receiving naira value from diaspora remittances and other sources instead of dollar, would strengthen the naira and reduce the gap between official and parallel market rate

Exactly what I've been saying jare

yeah you right cuz a pound came down from 1182 to 1130 this afternoon
this is a temporary measure cuz we don't produce for export to keep it stable

leokid866:
it has actually come down from 940 yesterday to 910 today cause I bought Dollars yesterday and could have used the savings.....ps you should know the fx market is all about speculation all it takes is for two three people to lay down a quote and shift the entire market especially the parallel market.....

Islie:


https://dailytrust.com/after-tinubu-cbn-governors-meeting-dollar-crashes-to-n790-at-parallel-market/

Let's see how long before it goes back up again.!! I've been alive in Nigeria over 40years and I have never seen the Naira gain SUSTAINABLY in 40+years!!!

Almiron:
Lemme confirm from Haruna first cos una too dey lie.

😂.
And they actually lied.
Dollar is still between 930 and 940 naira as we speak.

oloriooko:
pls confirm the bolded
or did u mean 910?

It's actually 940naira right now. BDC village, Wuse 2, Abuja.

Eriokanmi:
I'm not a fan of Tinubu and his visionless apc party but I bought dollar at 810 at Allen avenue around 4pm yesterday. I hope it crashes further because it will favour us the more.

These speculators are the problem of the fx market..what Tinubu should do is pump more dollars to stabilise naira, if he has the balls to do so. Western policy introduced is killing Nigerian economy.
He's such a visionless leader . What the Nigerian economy is going through right now is as a result of dictates from the west.

Where will the dollar come from to pump into the economy?
Haven’t you heard that over 90% of Nigeria GDP is used for debt servicing and the rest is used for big government.
Nothing is actually left at the end of the fiscal year.

DMechyy:
Jokers

I have just called the street now and he is selling for 820. It's really coming down for real

I just sold for 800.

Dollar is 890 rn, I no know where e for take crash go 790. Just lost 40 naira and under 1 week it may even go as high as 980

crismark:

You just dont have sense.
They should close all dollar account because naira acct is not used in the US?
What does US use our naira for?
We need dollars for importation and other things. Just go and donate your brain to the gods since it is useless

He could still be right, to a greater extent. I feel anybody who needs forex would buy through official windows but not from Abokis, just that it would first of all crash Naira for years before it starts stabilizing since there would be few sellers on the market.

Eriokanmi:
Rescuing currency with usd isn't only a Nigerian practice. It's done in all dollar-driven economies globally. The onus is on the leader of that country to monitor the disbursement and place a heavy sanction on erring agencies or banks. Across Europe, there's an agency called Travelex. There are others too who act like the bureau de change and sell fx to those who need them. I've bought usd and euro from Travelex in France, Germany and Switzerland in the past at their airports, Dubai too. There was a time they came to Nigeria.

But here, corruption may not allow this to work effectively but in a way, it would strengthen the naira. The federal government should reach out to registered bdc as they did in the past when the pdp was in power and allocate fx to them for sale to the public and monitor compliance. There was a time in this country when usd was almost same in rates both at the official and parallel markets. It was because bdcs were allocated fx constantly. Doing this will strengthen the naira and put less pressure on it. I hope the dollar crashes further cos I've got loads of fx transactions to make. I've been waiting since June.

We've been rescuing our currency with USD for decades and it has not worked much, plus we currently do not have the money(looking at the national reserves and government debt plus CBN freshly revealed debts). Tinubu will definitely put sanctions, he's already working on it. Monitoring the BDCs will work, no need to allocate anything. All our allocations no work, the BDC operators and banks now have large stomach. The removal of subsidy has greatly reduced pressure on the naira. It is now mostly speculation driven, not really demand, and that's what the government needs to work at. More powerful "speculators" than you should probably be shot as a deterrent to others(if it happened to a couple of them under a dictator, everyone will sit up). I would have said jailed/prosecuted, but our laws are too weak for the rich man and our main speculators would just play ping-pong with court cases and cost money. We operate a democracy though, so we all must be patient.

oloriooko:
yeah you right cuz a pound came down from 1182 to 1130 this afternoon
this is a temporary measure cuz we don't produce for export to keep it stable

It hopefully should be permanent and should go further down to like 600 which is around the real rates for dollars. These current rates are speculation(round tripping) driven, not demand driven.