The Acting Governor of CBN has today during the MPC briefing reiterated that the word " Naira Unification " is wrong, but Jounors wants clicks...

Trying to give Tinubu delusionists renewed false and unrealistic hope

FreeStuffsNG:
Naira Unification: Forex Inflow Rises By 28% To $1.41bn
Written by Bukola Idowu 2 weeks ago





https://leadership.ng/naira-unification-forex-inflow-rises-by-28-to-1-41bn/

Every time, we look for foreign investors...why not empower the people in Nigeria to invest , produce and export....China was displaying what they could do with manufacturing, and foreign investors started trooping in because they saw what the Chinese could offer

Ikaeniyan0:
Okay boss

You get time engaging him.

When I see people contributing knowledge on the internet, I know them by their first comments.

In your widest dreams

FreeStuffsNG:
In a matter of time, the FDI inflow will pick up too. Those unpatriotic elements who are hoarding USD will eventually get burnt and will still be prosecuted.
Asiwaju Bola Ahmed Tinubu is the best! God bless Nigeria for ever!

Propaganda.

helinues:
Good

Enemies of Nigeria should stay away from this thread or we go send thunder to them.

I wonder were it we END.....
Lot of thins are get higher by de day..

ebufa:




Stop yapping okpa guy! you should focus on remittances from naija diaspora....that is the real economy! How do you attract Nigerians to invest in their country,the way Ghanaians abroad are doing...even now many Nigerians are buying up homes in Ghana and Rwanda..............rule with equity and justice,so that Nigerians feel safe and secure in their homes...not looking the other way ,while fulanis run riot all over Nigeria ,maiming ppl! Let escobar bite the bullet and go after the saheliansavages killing people....and we may just forgive him for his electoral heist!

Very insightful thoughts you mentioned above. You also mentioned Ghana....I think the Nigerian leaders and Military should also humble themselves and learn about how Ghana took care of their own Fulani menace situation in their Northern States. Previous to the DW reports which tended to sympathize with the ejected Fulanis....the wild nomadic tribe were busy killing innocent Ghanaians on their farms and villages, thinking perhaps the Ghanaian was like the confused Nigerian. Their Ghanaian military were decisive in ending the Fulani menace on their lands.


https://www.youtube.com/watch?v=6wjq2A7I0ik

All these fancy stories, yet we are not seeing the effect. Naira keeps loosing value, depreciating. People getting poorer.

The economy is collapsing despite this news. A bag of rice is now 42k naira, an egg is 100 naira. Audio news won't save this people. Me don talk my own so you fit talk your own

TheboyGhost:
Propaganda
..

If Naira does not get to 1000 a. $ by December then know say no be me dey talk.

Una like suffer...

Una go suffer well well I swear

Let's hope not abeg. It only makes us poorer. God no go gree make apc turn naija to Zimbabwe.
Meanwhile, Shey you know naira hit 1k in black market few days ago before recovering.

WorldRichest:
Unfortunately illiterate drug traffickers, baby factory merchants and others selling Gala and La Casera inside Lagos holdups will not understand this. It is beyond their comprehension.

actually I think you are the one whose brain power cannot process what is going on, the naira is falling against the dollar, Nigerians in the diaspora are the major source of FDI into the Nigerian economy most of these folks in the diapora who have naira account are just using the fall of the local currency to cash out by converting their foreign currency.

How will this affect a common man on the street no tori olorun.

Clowns if there has been improvement in the foreign exchange inflow,it would automatically reflect in improved exchange rate in the naira

I see 1$ equal to #2000.
It's just matter of time if the few extreme wealthy men of the State are not appeased.

FreeStuffsNG:
In a matter of time, the FDI inflow will pick up too. Those unpatriotic elements who are hoarding USD will eventually get burnt and will still be prosecuted.
Asiwaju Bola Ahmed Tinubu is the best! God bless Nigeria for ever!

Who are the unpatriotic elements hoarding USD?

How is Tinubu the best?

Is it lack of unification of naira that prevented FDI all this while?

The clown that posted this doesn’t even understand the meaning of what he posted . Foreign inflow rises yet it is a bloodbath on the little inward remittances and the i and E window is almost going for N850 today , with the supposed rise in inflow, shouldn’t it ease the pressure on the greenback and subsequently reduce the rate , continue to put mouth for Tinubu scrotum o . Clown wey no sabi anything .

This is business day news today

Market News

Naira loses 1.79% at official FX market on dollar shortage - BUSINESSDAY

JULY 25, 2023

Even if you're a financial illiterate you can see that these numbers have no bearing on the common man.

Once security is good, investors will come trooping in.

FreeStuffsNG:
Naira Unification: Forex Inflow Rises By 28% To $1.41bn
Written by Bukola Idowu 2 weeks ago





https://leadership.ng/naira-unification-forex-inflow-rises-by-28-to-1-41bn/

Lipstick on a pig....

Destined2win:
So where is the forex?

Who is holding from circulation?

na statistics we go chop? go bank and ask for forex and see if u go get anything

TheboyGhost:


The new leader is up against very wicked Enemies that will choose to destroy the economy.

I am not an Economist, just a political analyser stating my views .

Can't you guys see that he is also wicked too?

Business as usual. You will know from day 1, if they are really serious.

realmindz:


Any reason why you are looking forward to the economy to collapse?

Irrespective of who you wanted to become president, why don't you wish your country success?

There may be political enemies, arguments and all in America. But once an election is over, all Americans irrespective of who they voted for always want the country to progress. Even trump supporters have never wished that US fails under Biden. Why is our case different in Nigeria

They are using their own hands to collapse it cant I see it?

MarketDispatch:


Every time, we look for foreign investors...why not empower the people in Nigeria to invest , produce and export....China was displaying what they could do with manufacturing, and foreign investors started trooping in because they saw what the Chinese could offer

I wonder

They don't want to develop the human resources.

FreeStuffsNG:
In a matter of time, the FDI inflow will pick up too. Those unpatriotic elements who are hoarding USD will eventually get burnt and will still be prosecuted.
Asiwaju Bola Ahmed Tinubu is the best! God bless Nigeria for ever!

Unfortunately sir,
This is not how Economy of Nations work.

Everything reduce to VALUE ADDITION and PRODUCTIVITY of the Local Economy!

It is not about FDI or Foreign Investment. The above is the secret and painfully, Nigeria has failed in this area and government want to do every thing except the mentioned

An issue emanating from this report is "why the reported 23.8% rise in forex inflow in June could not reflect in the forex rates of July.

A Juxtaposition of several excerpts from the news brings this curiosity.

"Following the harmonisation of the exchange rates in the country by the Central Bank of Nigeria (CBN), the total inflows into the Importers & Exporters (I&E) Window increased by about $270 million to close the month of June 2023 at $1.41billion, LEADERSHIP has learnt.

"This made it the second consecutive month of growth, rising by 23.8 per cent month-on-month to $1.41 billion in June as against $1.14 billion recorded in May".

In line with elementary economics, this increased cross-border supply of dollar into the nation's forex market is expected to appreciate the naira, not depreciate it---as the news reported further:

"Meanwhile, the first trading week in July 2023 began in the foreign exchange market bearish for the local currency as the naira depreciated by N19.20 or 2.48 per cent week on week to N792.20 to the dollar from N773 at the parallel market as forex market and traders continue reacting to the forces of demand and supply.

"At the I&E window, the naira depreciated by 1.0 per cent to N776.90 to the dollar with total turnover (as of 6th July) declining by 48.1 per cent to $367.23 million. Forex trades at the I&E window were consummated within the N600 and N820 per dollar band.

"Analysis of the activities of the Naira at the Forward Contracts Market last week showed that the local currency weakened across all forward contracts against the dollar by 4.74 per cent, 4.59 per cent, 4.47 per cent, 4.14 per cent and 3.64 per cent to close at N801.22, N810.72, N820.24, N849.13 and N910.26 at the 1-month, 2-month, 3-month, 6-month and 12-month tenor contracts respectively".

adebayo987:
Once security is good, investors will come trooping in.

But alas
It is business as usual

Security still bad

Judiciary/law and execution of justice terrible

Sending a wrong message/signal to investors

TheboyGhost:
Propaganda
..

If Naira does not get to 1000 a. $ by December then know say no be me dey talk.

Una like suffer...

Una go suffer well well I swear

na people wey dey suffer dey say other people go suffer. I can see the suffer reach you well because you always dwell on negativity and it will ruin you. Be positive for once and see positive changes

If there is no security of lives and property, foreign investors won't troop in, neither will our economy grow.

FreeStuffsNG:
In a matter of time, the FDI inflow will pick up too. Those unpatriotic elements who are hoarding USD will eventually get burnt and will still be prosecuted.
Asiwaju Bola Ahmed Tinubu is the best! God bless Nigeria for ever!

Hold your prayer Let me explain something to you. The rate at the I&E window is currently N742, whereas, at the Black market, it is N852, why the big spread? Answer Greediness. Your country's CBN deliberately prohibits the BDC from buying from the I&E window. The BDC are now forced to source for dollar from the Bank. The banks buy @ 742 then sell to the BDC @ 820 then BDC turns around and sells to the masses @ 855. Tell your Asiwaju to start looking into this. The same man removed subsidies without any plan in place to help the people.

FreeStuffsNG:
Naira Unification: Forex Inflow Rises By 28% To $1.41bn
Written by Bukola Idowu 2 weeks ago

How has the forex rate changed since this two weeks ago story of rising inflows by 28%?

Has the exchange rate gained by 28% also?