The End Of Naira, NGN, On Binance - Business (2)

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The End Of Naira, NGN, On Binance - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / The End Of Naira, NGN, On Binance (38221 Views)

Why Naira(ngn) Is Appreciating / Receive Usd, Eur, Gbp And Payoneer Funds To Naira (ngn) !! @ Best Rate ≈» / The Secret Revealed: 1 NGN Can Equate 1 USD If Nigerian Government Can Do This. (2) (3) (4)

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Re: The End Of Naira, NGN, On Binance by omoredia: 12:52pm On Mar 05

A government that cannot be trusted is the greatest threat to national security

2 Likes 2 Shares

Re: The End Of Naira, NGN, On Binance by israelmao(m): 12:52pm On Mar 05

Emilokan government keeps arresting the people in the system instead of arresting the system.

4 Likes 4 Shares

Re: The End Of Naira, NGN, On Binance by skj1377(m): 12:52pm On Mar 05

Going round in circles. Emefele had same issue and blocked them only for Tinubu and his economic team to think they know better and unblock them only to block 9months down the line

2 Likes

Re: The End Of Naira, NGN, On Binance by Coolestguy2023: 12:53pm On Mar 05

Nbotee:
The govt went after Abokifx last 2 years for being responsible for the naira free fall. How did that move affect the naira

See this illiterate.
Im 100% sure you are one of Obi people. Very delusional set of people

Re: The End Of Naira, NGN, On Binance by weirdestbruv(m): 12:53pm On Mar 05

We are observing.

Re: The End Of Naira, NGN, On Binance by AutoConsult: 12:53pm On Mar 05

Interesting

Re: The End Of Naira, NGN, On Binance by Bluearrow: 12:53pm On Mar 05

SenecaTheYonger:
It serves you guys right. You had a little bit of control over the exchange rate so you kept increasing it by 99naira everyday just to make small profit. At the expense of 199 million Nigerians.

USDT is not scarce. I’ve never in my life heard of scarcity of USDT. So why did the price keep increasing?

You use Naira to buy USDT. You can never use dollar to buy USDT in Nigeria.

Both Naira and USDT are not scarce, so why the outrageous increase everyday?

Let's see the magic that will happen
If naira will revert back to 700 after this
You guys don't want to face the truth, but keep chasing shadows.

6 Likes

Re: The End Of Naira, NGN, On Binance by epainos: 12:53pm On Mar 05

I don't pity Binance. Infact, their CEO is going to jail in the US.

In Nigeria, they write no 3rd party trading in P2P...meaning that the name you use to do your KYC is the account you must use to receive your money. But these Naija crypto dealers (they even have an association), started using company accounts and then started posting fake documents that they own the company. And Binance kept allowing them. Even if you complain, Binance would do nothing. And then, when they run away with your money, Binance will say no third-party trading. Lol. Binance is a useless organisation that is a nightmare to the world economy.

If Binance adheres to the no third party rule, no single person can move more than what CBN has allowed us to move due to money laundering. Binance is a useless organisation, and more nations are going to ban it. That platform is going down soon because it is not ready to correct itself.

Nairaland, do something about front page comments. This is important. Misleading comments are always onnyour front page.

Seun nlfpmod etc.

Do something. Seun, we desperately need you now. Front page comments matter a lot. Please, we are begging you. BIKO. Find a way we can derank useless comments on frontpage and then upgrade useful comments. Biko...please.

17 Likes

Re: The End Of Naira, NGN, On Binance by Amigoss: 12:54pm On Mar 05

SenecaTheYonger:
It serves you guys right. You had a little bit of control over the exchange rate so you kept increasing it by 99naira everyday just to make small profit. At the expense of 199 million Nigerians.

USDT is not scarce. I’ve never in my life heard of scarcity of USDT. So why did the price keep increasing?

You use Naira to buy USDT. You can never use dollar to buy USDT in Nigeria.

Both Naira and USDT are not scarce, so why the outrageous increase everyday?

Your ignorance dey smell

1 Like 1 Share

Re: The End Of Naira, NGN, On Binance by hustla(m): 12:54pm On Mar 05

Doing everything except fixing the issues. Busy doing nothing

Re: The End Of Naira, NGN, On Binance by We4all: 12:55pm On Mar 05

Pls, which network are you guys using to login to Binance and Kukoin? Both sites have not been opening on my ends.

Re: The End Of Naira, NGN, On Binance by VaginaAcademic: 12:55pm On Mar 05

After Binance dem go enter opay and palmpay

Re: The End Of Naira, NGN, On Binance by NaijaCover(m): 12:55pm On Mar 05

Hmmmmm

Re: The End Of Naira, NGN, On Binance by hustla(m): 12:55pm On Mar 05

seanwilliam:
And people will start chasing the scarce dollars on other exchanges.
Consequently shooting up the price again .
Bro Tinubu , why are you this dull?

It's already going up

cheesy

Re: The End Of Naira, NGN, On Binance by SenecaTheYonger: 12:55pm On Mar 05

Bluearrow:

Let's see the magic that will happen
If naira will revert back to 700 after this
You guys don't want to face the truth, but keep chasing shadows.

The Naira has not even left 1k5 since they camped down on Binance. Why do you guys lie so much?

1 Like

Re: The End Of Naira, NGN, On Binance by Utanisco(m): 12:56pm On Mar 05

Hmmmmm

Re: The End Of Naira, NGN, On Binance by REALretep(m): 12:56pm On Mar 05

fnep2smooth:
more opportunity for small small anonymous start-up , more multi million dollars is about to be made in a low key way ooooo.

This will give raise to advance idea to beat the system.

Exactly
Other unpopular exchanges will become popular. Government can never kill crypto. It has come to stay. Binance is just one of the many crypto exchanges in the system

Re: The End Of Naira, NGN, On Binance by Bluearrow: 12:56pm On Mar 05

SenecaTheYonger:

The Naira has not even left 1k5 since they camped down on Binance. Why do you guys lie so much?

Lie so much about what??
What was the naira before floating??
Let's see the magic that will happen

Re: The End Of Naira, NGN, On Binance by Johnjustice: 12:57pm On Mar 05

Very good. If we can feed ourselves alone, we will increase value of naira. Nigeria needs to develop its own home economy, this is it's real value, when millions of Nigerians starts and operates manufacturing plants, our wealth stays here. We don't need international investors so much, let's first maximize our potentials, with our potentials and market, na dem suppose dey rush us.

1 Like

Re: The End Of Naira, NGN, On Binance by Pristine664: 12:57pm On Mar 05

Antipob777:
Peter Obi will soon react onthis. We are waiting patiently

😂😂 😂

You know the clown very well.

Re: The End Of Naira, NGN, On Binance by tonicyril: 12:57pm On Mar 05

Felabrity:
Hope it will return dollar to 200 naira

Uselèss government, like Nigeria is the only country on binance

Well, ur so called saner climes are not on binance either.....so who is a fuul now between u and the govt??

4 Likes

Re: The End Of Naira, NGN, On Binance by Theunbothered: 12:57pm On Mar 05

SenecaTheYonger:
It serves you guys right. You had a little bit of control over the exchange rate so you kept increasing it by 99naira everyday just to make small profit. At the expense of 199 million Nigerians.

USDT is not scarce. I’ve never in my life heard of scarcity of USDT. So why did the price keep increasing?

You use Naira to buy USDT. You can never use dollar to buy USDT in Nigeria.

Both Naira and USDT are not scarce, so why the outrageous increase everyday?

You are very dull I swear. Your problem is they were using binance figures to give info about the exchange rate, just dumb no attempt to even understand how any of this works.

Binance doesn't seem to affect any other currencies just naira that is being mismanaged by fools.

2 Likes

Re: The End Of Naira, NGN, On Binance by Theunbothered: 12:58pm On Mar 05

tonicyril:
Well, ur so called saner climes are not on binance either.....so who is a fuul now between u and the govt??

Inflation did not happen before Binance in Nigeria? grin

Re: The End Of Naira, NGN, On Binance by Theunbothered: 12:58pm On Mar 05

Coolestguy2023:

See this illiterate.
Im 100% sure you are one of Obi people. Very delusional set of people

Answer the question how did taking down abokifx reduce inflation.

10 marks.

2 Likes

Re: The End Of Naira, NGN, On Binance by Joy2dworldxyz: 1:02pm On Mar 05

My people I have not eaten since morning o
See, not that I don't have money, at least I have enough change on me to eat but I don't know how to spend over 2k just to fix breakfast. It's so disheartening.....

O poor naira!!

Re: The End Of Naira, NGN, On Binance by Calitoscassius(m): 1:03pm On Mar 05

SoNature:
Apparently, Nigerians are overestimating themselves. We think that without us this foreign companies cannot run. This is a similar drama that played out between Buhari and Twitter.

The most SENSELESS argument made by a Nigerian is that Nigerians use more expensive things that foreigners. I don't know who is telling us this nonsense!

I think it is all in their bloody heads. grin

Naigeerians who buys mostly fake products without even knowing. Indians, chinese and other developing countries spends more and buys more expensive things than Naigeerians.

Re: The End Of Naira, NGN, On Binance by Daystar7: 1:05pm On Mar 05

Chasing the wind, get ur economic policies right and nobody will even think about binance and all unnecessary Merry go round by Efcc. Demand and supply is the law of money. Closing binance means business savvy guys moves to another one. We are here to make money bruh. We 'll dump USDT for Naira if the government of Nigeria makes good fundamental and technical economic policies that will strengthen the Naira against the $. Simple! We will dump even gold and pounds for it but if not to hell with Naira bruh and give me the $. Now you can gaslight all you want by saying I'm not patriotic but you forget ur government don't produce nothing, go for medical trip abroad not in Naira but $, use imported cars in $ not # but I'm the unpatriotic one and they're innit?

5 Likes

Re: The End Of Naira, NGN, On Binance by Ayomipoe(m): 1:06pm On Mar 05

Economics is simple.

The amount of people that wanted to get Naira became scarce. Hence the price rose.

USDT is not scarce. The people who want Naira are scarce for obvious reasons. The outrageous increase daily? Speculation. There is speculation because the CBN is being vague about its accounts and you cannot as a Nigerian get dollars easily. Even with the supposed unified exchange rates, most bank cards cannot pay for Godaddy or Coursera.

SenecaTheYonger:
It serves you guys right. You had a little bit of control over the exchange rate so you kept increasing it by 99naira everyday just to make small profit. At the expense of 199 million Nigerians.

USDT is not scarce. I’ve never in my life heard of scarcity of USDT. So why did the price keep increasing?

You use Naira to buy USDT. You can never use dollar to buy USDT in Nigeria.

Since the clamp down on Binance, Naira has gone from 1k7 to 1k5 and it’s been hoverint about 1k5 since that time. Seriously, what were you guys doing at Binance?

Both Naira and USDT are not scarce, so why the outrageous increase everyday?

1 Like

Re: The End Of Naira, NGN, On Binance by IbeOkehie: 1:07pm On Mar 05

In the last decade, in particular since 2015, the major factor responsible for the depreciation in the value of naira is excessive and reckless printing of the currency by the Central Bank of Nigeria, which is owned by the Federal Government of Nigeria.

Why did the CBN print so much?

They did it to supply money for socialist programs like fuel subsidy, electricity subsidy and Anchor Borrower Loans, N-Power grants and the School Feeding Program. These were all promises made to the Nigerian people by APC in 2014 and when elected to government they did exactly that, they kept their promises.

Any other claim is a LIE.

Good Luck to Nigeria.

3 Likes

Re: The End Of Naira, NGN, On Binance by harjay1986: 1:07pm On Mar 05

SenecaTheYonger:
It serves you guys right. You had a little bit of control over the exchange rate so you kept increasing it by 99naira everyday just to make small profit. At the expense of 199 million Nigerians.

USDT is not scarce. I’ve never in my life heard of scarcity of USDT. So why did the price keep increasing?

You use Naira to buy USDT. You can never use dollar to buy USDT in Nigeria.

Since the clamp down on Binance, Naira has gone from 1k7 to 1k5 and it’s been hoverint about 1k5 since that time. Seriously, what were you guys doing at Binance?

Both Naira and USDT are not scarce, so why the outrageous increase everyday?

I once ask someone that they should show me other countries currency on a spot trade with crypto, even the almighty USD is not there, Euro is not because USDT is not recorgnise by bricks and blocks... to Nigerian Yes we want to back our money againt inflation then buy Bitcoin then

2 Likes

Re: The End Of Naira, NGN, On Binance by Ayomipoe(m): 1:11pm On Mar 05

Your comment is misleading.
Here is EUR/USDT

harjay1986:

I once ask someone that they should show me other countries currency on a spot trade with crypto, even the almighty USD is not there, Euro is not because USDT is not recorgnise by bricks and blocks... to Nigerian Yes we want to back our money againt inflation then buy Bitcoin then

6 Likes

Re: The End Of Naira, NGN, On Binance by Theunbothered: 1:11pm On Mar 05

Blacklion3:
Crypto is being used to move funds with less scrutiny. You can't know better than the CBN when it comes to tracking their own money.
Money leaves a trail

How come EFCC has no idea what happens to funds returned to CBN? I am asking you people to please turn on your brains. undecided

1 Like

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