oluayebenz:


It will definitely nose dive.
FX can't stay high for long.

I'm predicting 600/USD in the coming months

Expect a slight pullback around September ending. The pressure on FX you are seeing now is related to students resuming overseas this peirod. Once they move and the market settles, it should return to sub 800.

But that 600 that guy man above is giving you is lamba.

In the long term, naira will continue to lose value against dollar. This dollar matter wey we don dey talk for this thread when it was at 380, 460 e.t.c
e never pull back since then

From your pay/gains

The following has taken their portions
the landlord
the local foodstuffs seller
grocery store,
fuel stations
transporters
dependants
etc...
Don't forget to pay yourself first by investing a portion of your pay/gains in
the Stanbic mmf, SFS fixed income fund or stock of dividend-paying companies.

click the links on my signature to pay yourself in any of the investment windows.

pizapato:


Expect a slight pullback around September ending. The pressure on FX you are seeing now is related to students resuming overseas this peirod. Once they move and the market settles, it should return to sub 800.

[/b]But that 600 that guy man above is giving you is lamba[b].

In the long term, naira will continue to loss value against dollar. This dollar matter wey we don dey talk for this thread when it was at 380, 460 e never pull back since then e.t.c

Very correct

hustla:
Please o finance gurus

Is there any probability that the spiking fx rates will nose dive in the next few months?

Or more increases to be expected?

Any pointers appreciated

Thanks

It will keep on increasing till we reduce our dependence on importation generally.

oluayebenz:


It will definitely nose dive.
FX can't stay high for long.

I'm predicting 600/USD in the coming months

By December,it will be between 900 and 1000.

spencekat:
By December,it will be between 900 and 1000.

Hi All,

Is there any dollar instrument, account or funds one can invest in with better interest rate or dividend

Not looking at fintech in this instance , any advice will be appreciated .

Before June 2024 $1 will hit N1000. .
E go better is a language of those that were unfortunate and missed out in buying dollar when it was N360 = $1.
Tinubu's family's income from the closure of Lekki/Ikoyi toll gate dropped. They will keep repaying the Naira denominated debts to gain more credit worthiness and even borrow to repay euro bonds, they will look good at first but by the time they finish with Nigeria.
The value of Naira will be tissue paper.


Na so some people talk that time say once Dangote open his refinery, demand for dollar will crash, I laughed at them and asked Is Dangote related to Jesus ?

Nigeria doesn't produce Forex or generate enough, it is not in sight to do any of those so therefore the value of dollar will continue to drop, I bought N895/$ today. We never enter festive season o hehe

pizapato:


Expect a slight pullback around September ending. The pressure on FX you are seeing now is related to students resuming overseas this peirod. Once they move and the market settles, it should return to sub 800.

But that 600 that guy man above is giving you is lamba.

In the long term, naira will continue to loss value against dollar. This dollar matter wey we don dey talk for this thread when it was at 380, 460 e never pull back since then e.t.c

emmasoft:
From your pay/gains

The following has taken their portions
the landlord
the local foodstuffs seller
grocery store,
fuel stations
transporters
dependants
etc...
Don't forget to pay yourself first by investing a portion of your pay/gains in
the Stanbic mmf, SFS fixed income fund or stock of dividend-paying companies.

click the links on my signature to pay yourself in any of the investment windows.

If all these people comot their own from salary, how man pikin go still get money to save

Wotowotoman:


If all these people come t their own from salary, how man pikin go still get money to save

Actually, that is what happens to everyone in one way or another all over the world. These bills must be paid. Hence experts say PAY YOURSELF FIRST. One must be intentional about it. Remember the amount will differ based on your income but everyone that plans to have some financial freedom some day must just have to put some amount aside even if it's little at a time. Check again this book - The Richest Man in Babylon.

TotoNaRubber:
Before June 2024 $1 will hit N1000. .
E go better is a language of those that were unfortunate and missed out in buying dollar when it was N360 = $1.
Tinubu's family's income from the closure of Lekki/Ikoyi toll gate dropped. They will keep repaying the Naira denominated debts to gain more credit worthiness and even borrow to repay euro bonds, they will look good at first but by the time they finish with Nigeria.
The value of Naira will be tissue paper.


Na so some people talk that time say once Dangote open his refinery, demand for dollar will crash, I laughed at them and asked Is Dangote related to Jesus ?

Nigeria doesn't produce Forex or generate enough, it is not in sight to do any of those so therefore the value of dollar will continue to drop, I bought N895/$ today. We never enter festive season o hehe

TotoNaRubber:
Before June 2024 $1 will hit N1000. .
E go better is a language of those that were unfortunate and missed out in buying dollar [/b]when it was N360 = $1. [b]
Tinubu's family's income from the closure of Lekki/Ikoyi toll gate dropped. They will keep repaying the Naira denominated debts to gain more credit worthiness and even borrow to repay euro bonds, they will look good at first but by the time they finish with Nigeria.
The value of Naira will be tissue paper.


Na so some people talk that time say once Dangote open his refinery, demand for dollar will crash, I laughed at them and asked Is Dangote related to Jesus ?

Nigeria doesn't produce Forex or generate enough, it is not in sight to do any of those so therefore the value of dollar will continue to drop, I bought N895/$ today. We never enter festive season o hehe

It is still paining me that I didn't have this financial sense then.

spencekat:
It will keep on increasing till we reduce our dependence on importation generally.

But what is other W/A countries doing differently from Nigeria. Few years back 1k Naira is about 2.5k CFA Franc. Today 1CFRA Franc = N1.29
Yet Benin Republic economy depends largely on what happens in Nigeria, they also import virtually everything they consume just like Nigeria. Why is FX pressure not felt as much as we have in Nigeria?
I honestly need to know what they are doing right which Nigeria don't do.

abraolas1:


Hi All,

Is there any dollar instrument, account or funds one can invest in with better interest rate or dividend

Not looking at fintech in this instance , any advice will be appreciated .

Banks and other reputable financial houses do USD Euro Bond (btw 5 - 6% interest pa).
Try United Capital PLC.
You won't regret diversifying your portfolio

spencekat:
It will keep on increasing till we reduce our dependence on importation generally.

Nawa o!
Wahala be like bicycle!

DigitalMallam:

But what is other W/A countries doing differently from Nigeria. Few years back 1k Naira is about 2.5k CFA Franc. Today 1CFRA Franc = N1.29
Yet Benin Republic economy depends largely on what happens in Nigeria, they also import virtually everything they consume just like Nigeria. Why is FX pressure not felt as much as we have in Nigeria?
I honestly need to know what they are doing right which Nigeria don't do.

A precis. https://www.imf.org/external/pubs/ft/fabric/backgrnd.htm | https://en.wikipedia.org/wiki/CFA_franc
A detailed vignette if you're still in a tizz. https://www.brookings.edu/articles/how-the-france-backed-african-cfa-franc-works-as-an-enabler-and-barrier-to-development/

TL:DR; Francophone West Africa is in a Monetary Union. The unified currency is pegged to the Euro.

-Lord

DigitalMallam:

But what is other W/A countries doing differently from Nigeria. Few years back 1k Naira is about 2.5k CFA Franc. Today 1CFRA Franc = N1.29
Yet Benin Republic economy depends largely on what happens in Nigeria, they also import virtually everything they consume just like Nigeria. Why is FX pressure not felt as much as we have in Nigeria?
I honestly need to know what they are doing right which Nigeria don't do.

Be fair.

The countries you refer to do not have independent "Central Banks" as their reserves are managed using Operations Accounts domiciled in the French Treasury.

Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO)
Benin
Burkina Faso
Guinea Bissau
Ivory Coast
Mali
Niger
Senegal
Togo

Banque des États de l'Afrique centrale (BEAC)
Cameroon
Central African Republic
Chad
Congo Republic
Gabon
Equatorial Guinea

https://blogs.lse.ac.uk/africaatlse/2017/07/12/the-cfa-franc-french-monetary-imperialism-in-africa/

https://www.trtworld.com/opinion/cfa-franc-the-colonial-currency-keeping-14-african-nations-on-a-leash-12781184

DigitalMallam:

Banks and other reputable financial houses do USD Euro Bond (btw 5 - 6% interest pa).
Try United Capital PLC.
You won't regret diversifying your portfolio

You think say Naija Eurobonds are guaranteed? Hahaha. You must be dreaming. Go and do your research on wetin happen to Eurobonds in Ghana before you make that kind statement again…

DigitalMallam:

But what is other W/A countries doing differently from Nigeria. Few years back 1k Naira is about 2.5k CFA Franc. Today 1CFRA Franc = N1.29
Yet Benin Republic economy depends largely on what happens in Nigeria, they also import virtually everything they consume just like Nigeria. Why is FX pressure not felt as much as we have in Nigeria?
I honestly need to know what they are doing right which Nigeria don't do.

You no know say CFA is pegged to the Euro? If you think it’s an advantage to those countries in the cfa zone then you must be flogged mercilessly

Wotowotoman:


You no know say CFA is pegged to the Euro? If you think it’s an advantage to those countries in the cfa zone then you must be flogged mercilessly

Can you kindly state the disadvantages?

TotoNaRubber:
Before June 2024 $1 will hit N1000. .
E go better is a language of those that were unfortunate and missed out in buying dollar when it was N360 = $1.
Tinubu's family's income from the closure of Lekki/Ikoyi toll gate dropped. They will keep repaying the Naira denominated debts to gain more credit worthiness and even borrow to repay euro bonds, they will look good at first but by the time they finish with Nigeria.
The value of Naira will be tissue paper.


Na so some people talk that time say once Dangote open his refinery, demand for dollar will crash, I laughed at them and asked Is Dangote related to Jesus ?

Nigeria doesn't produce Forex or generate enough, it is not in sight to do any of those so therefore the value of dollar will continue to drop, I bought N895/$ today. We never enter festive season o hehe

Expect a little twist by September ending or Oct/Nov, they might pump out some USD to crash the rate and ensure speculators get their hands burnt.

Whoever is playing the long game really have nothing to worry about though.

Pls someone should update the house on the last treasury bill

House pls when is the next treasury bill auction

teejay5:
House pls when is the next treasury bill auction

Since there was no auction last week, then it should be tomorrow. If you wish to participate get to your bank today before 10am to apply.

pizapato:



Expect a little twist by September ending or Oct/Nov, they might pump out some USD to crash the rate and ensure speculators get their hands burnt.

Whoever is playing the long game really have nothing to worry about though.

We have been speaking about this Dollar issue since it was at N300

It will continue to rise as long as we are a consuming nation and the way I see it, people are still willing to bid at even N1,400 to a Dollar

They say the exchange rate was unified yet the IE window is trading at 750 while black market has almost entered 900

I have converted all my earnings to Dollar,I'll rather invest in the S&P 500 than to deal with this deception of a country

richforever123:


We have been speaking about this Dollar issue since it was at N300

It will continue to rise as long as we are a consuming nation and the way I see it, people are still willing to bid at even N1,400 to a Dollar

They say the exchange rate was unified yet the IE window is trading at 750 while black market has almost entered 900

I have converted all my earnings to Dollar,I'll rather invest in the S&P 500 than to deal with this deception of a country

Gbamsulotely, end of thread, l, Absolutely agree with your post, as long as the economic status quo remains the way it is although with a slight change with the current government, and as long as the Nigerian economy continue to practice Voodoo and Oluwole economics led by kunu, suya, akara and akamu eggheads in different sections / department of the critical sectors of the Nigerian economy , Dollar will continue to rise, next news jare

pizapato:



Expect a little twist by September ending or Oct/Nov, they might pump out some USD to crash the rate and ensure speculators get their hands burnt.

Whoever is playing the long game really have nothing to worry about though.

Are you new to Nigeria economy?

spencekat:
It will keep on increasing till we reduce our dependence on importation generally.

the biggest importers in the world are USA and China, and they are also the biggest economy

These current handlers at the helm, don't just care! They don't give a f***

TotoNaRubber:
Before June 2024 $1 will hit N1000. .
E go better is a language of those that were unfortunate and missed out in buying dollar when it was N360 = $1.
Tinubu's family's income from the closure of Lekki/Ikoyi toll gate dropped. They will keep repaying the Naira denominated debts to gain more credit worthiness and even borrow to repay euro bonds, they will look good at first but by the time they finish with Nigeria.
The value of Naira will be tissue paper.


Na so some people talk that time say once Dangote open his refinery, demand for dollar will crash, I laughed at them and asked Is Dangote related to Jesus ?

Nigeria doesn't produce Forex or generate enough, it is not in sight to do any of those so therefore the value of dollar will continue to drop, I bought N895/$ today. We never enter festive season o hehe

He would have left things the way they were when Emefiele was still in charge. Now the FX unification has failed woefully, the gap between parallel market and official CBN rate is broadening again!

VeeVeeMyLuv:

the biggest importers in the world are USA and China, and they are also the biggest economy

These current handlers at the helm, don't just care! They don't give a f***

You forgot to mention who the biggest exporters are to

These countries you mentioned are the biggest importer but are also the biggest exported and their export are way higher than what they import

richforever123:


You forgot to mention who the biggest exporters are to

These countries you mentioned are the biggest importer but are also the biggest exported and their export are way higher than what they import

You made it look as if importation is a bad thing.

I think the environment is not made conducive for enterprise, industry, productivity. Opportunities are becoming slimmer and slimmer. Corruption becoming an industry in itself due to focus on the increasingly limited revenue (as can be seen with crude oil theft, corruption in public/civil service, grand scale institutional corruption) to name but a few.

See tout, hoodlums and non state actors everywhere interfering with economic activities.

I never made any statement pertaining to importation being bad, I only said they are the biggest importers and also the biggest exports and their exports are way higher than their imports, you can scroll up and quote the right the person

richforever123:
I never made any statement pertaining to importation being bad, I only said they are the biggest importers and also the biggest exports and their exports are way higher than their imports, you can scroll up and quote the right the person

Okay noted