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Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index (30791 Views)

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Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Dottore: 8:46am On Jun 16, 2023
Ok
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by bigdammyj: 8:47am On Jun 16, 2023
Noted.
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Gbenga4ever1411: 8:47am On Jun 16, 2023
The Rich also cry 😭😭😭
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Lincton: 8:47am On Jun 16, 2023
When they have been making much more what was there impact?
Dangote is a man to be checked if the economy would work. Enjoying waivers upon waivers on taxes and his commodities were outrageous
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by LARRYOBRAIN(m): 8:51am On Jun 16, 2023
Okay now, we will know the true billionaires.
Corruption fighting back.
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Sermwell(m): 8:52am On Jun 16, 2023
GanagiBeetrus:
Pls who knows when all these Tinubu achievements will start positively reflecting on the cost of living & improve the Standard of living of the average Nigerian.
So signing of bills without implementation is now an achievement? Why are Nigerians easily decieved?

3 Likes 3 Shares

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by millionboi2: 8:55am On Jun 16, 2023
Ladishx:
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Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by ChybuzzDD(m): 8:56am On Jun 16, 2023
jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.

Don't them.
Those who have been programmed to be praise singers will never understand/attempt to understand anything.

7 Likes

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Blazebond(m): 8:56am On Jun 16, 2023
If na Igbo people this two men be ehn,we for nor dey hear word for Nigeria at all,the noise ehn.

5 Likes 1 Share

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by XAUBulls: 8:58am On Jun 16, 2023
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by omoadeleye(m): 8:58am On Jun 16, 2023
jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.


Naira can only lose value to dollars okay and not lose value in your country

4 Likes

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by masseratti: 8:58am On Jun 16, 2023
jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.
you very wrong.. Nothing reduced in your own money value because you don't have access to the CBN Window Dangote and Samad has access to 99.5% of Nigerians were sourcing their own money from the black market.. So no change in value oga.

5 Likes

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by gloryman91: 8:59am On Jun 16, 2023
Septagon:
If you are reading this...may God/Allah bless your hands.Amen.

Thumma Aamin and you too.


Hadley Chase available
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by siraj1402(m): 8:59am On Jun 16, 2023
Septagon:
If you are reading this...may God/Allah bless your hands.Amen.


Hadley Chase available
What's the quality of the printing? I need it as much as possible. Let me have the titles.
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Gamesmart: 9:00am On Jun 16, 2023
TemplarLandry:
cool Now it's clear they've been benefiting from the discrepancies of our economic system.

And so?
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Tmex(m): 9:01am On Jun 16, 2023
Raheeqilmaktoom:








Dem say go school, you say na scam. grin

What the report is saying in other words is that every asset and income of these two is based on naira, the calculation of their assets by Forbes and Bloomberg however is done in USD - meaning whenever their assets are to be quoted in USD, the value is exchanged with the prevailing naira-dollar rate.

Other words, you have $1000 before 2019 when naira was say 500, this makes the value of your wealth N500,000. Now naira is 1000/$, this makes the value of your $1000 N1,000,000 without you doing anything to increase or decrease it.

Go school.

You are correct in that they are affected because their money is in naira, just as every other business man

But the truth is, they needed more naira to buy the dollars than they always do prior this time, which obviously depleted their naira .

1 Like

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by blueAgent(m): 9:01am On Jun 16, 2023
GanagiBeetrus:
Pls who knows when all these Tinubu achievements will start positively reflecting on the cost of living & improve the Standard of living of the average Nigerian.

Audio Polices. grin
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Gamesmart: 9:02am On Jun 16, 2023
Samunique:
I received this news with all pleasure, maybe and maybe this might be the end of these men, most especially Dangote who has the destinies of millions of Nigerians through monopoly.

The day Dangote is dismantled will be the beginning of the libration of this great country.

I can guarantee you that your life will have ended even before they lose their hair. Talk less of becoming non-billionaires.
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by BATified2023: 9:03am On Jun 16, 2023
TemplarLandry:
cool Now it's clear they've been benefiting from the discrepancies of our economic system.
dangote was never a real business man in d real sense, he only benefits from Nigeria corruption cycle n romance with the government which gives him d monopolistic edge

Dangote can’t survive in a competitive market

6 Likes 3 Shares

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by ChybuzzDD(m): 9:03am On Jun 16, 2023
omoadeleye:



Naira can only lose value to dollars okay and not lose value in your country

Are you for real?

Didn't the cost of things increased in Nigeria??

Can you still use 100 naira now to purchase the same goods you bought with 100naira a few weeks ago?

Why are you guys this hypocritical? Just because your tribe or religious man is the one in power? Nawaoo

8 Likes 2 Shares

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Sorrynovex: 9:04am On Jun 16, 2023
BATified2023:
dangote was never a real business man in d real sense, he only benefits from Nigeria corruption cycle n romance with the government which gives him d monopolistic edge

Dangote can’t survive in a competitive market

So you know this

But if he was from ekiti or Oyo he can survive in the competitive market abi 🤷

#sorrynovex
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by onadana: 9:05am On Jun 16, 2023
jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.


Is the N500,000 listed in the Stock market? Wetin you dey talk?

1 Like

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Allisgud: 9:05am On Jun 16, 2023
jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.
how na
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Gamesmart: 9:05am On Jun 16, 2023
jmoore:
Some people don't get the picture. It means naira is losing value.

That 500,000 naira in your account on May 29th this year is now worth around 300,000 naira and would reduce further.

If you think your own value has not reduced too, then you have been deceived.

Nonsense!

How is the ordinary man's Naira losing value?

It is clear it is you that do not get the picture.

2 Likes

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by 77up(m): 9:05am On Jun 16, 2023
GanagiBeetrus:
Pls who knows when all these Tinubu achievements will start positively reflecting on the cost of living & improve the Standard of living of the average Nigerian.
Calm down, today is his 16th days in office.
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by ZaddyJ: 9:06am On Jun 16, 2023
Ihateheadslamer:
You ever wondered why Dangote is richer than Buhari and all of the past and present Nigeria leaders


Every country has a dangote ,its just that the case of Aliko dangote's was just too much .
One man has been the one controlling our economy since the 80. American and European countries has one or two dangote's but not like our very Dangote
Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Teenaira: 9:06am On Jun 16, 2023
GanagiBeetrus:
Pls who knows when all these Tinubu achievements will start positively reflecting on the cost of living & improve the Standard of living of the average Nigerian.

Hatred is a disease that can not be cured in the hospital.

1 Like

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by imbless: 9:06am On Jun 16, 2023
omoadeleye:



Naira can only lose value to dollars okay and not lose value in your country
WTF This is nothing but a stupid comment! in this country that is dependent on importation.
You guys are just irredeemable tueh!

1 Like

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Nobody: 9:06am On Jun 16, 2023
If well managed, I think the naira will start to gain strength even. BDCs were only pushing the prices up. It would have kept going up from generation to generation because the BDCs will have to profit. It's the only way they make profit. But now, there's free float. Professionals are at the top. Things will only fall in place. Especially if the dangote refinery comes in. More forex availability. Also, If oil production is successfully pushed to 4m per day, I see a downward trend for dollar.

2 Likes

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by FunkyAlhaji2015: 9:07am On Jun 16, 2023
TemplarLandry:
cool Now it's clear they've been benefiting from the discrepancies of our economic system.

Lemme attempt to educate you a bit. Dangote and Rabiu have lost nothing literally. Before now their wealth was calculated from naira to dollar using 460 naira exchange, but now it has been re-based to 680 naira. It means every Nigerian has lost money including Tinubu if you're to re-calculate their wealth now in dollars.

1 Like

Re: Naira Float: Dangote, Abdulsamad Rabiu Lost $5.85bn, Say Bloomberg Index by Gamesmart: 9:07am On Jun 16, 2023
shortgun:
This is just the beginning, bad economic policies will affect everyone adversely.

Wow!

You are a proper Anal-ist!

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