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Nairaland Forum / Nairaland / General / Business / There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep (17774 Views)
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Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by chloride6: 3:00pm On Sep 26, 2023 |
Yup…Courtsey of Meffy… |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Bizibi(m): 3:01pm On Sep 26, 2023 |
Imf is calling |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by wirinet(m): 3:02pm On Sep 26, 2023 |
adisabarber:That's the greatest tragedy to befall Nigeria since the civil war - floating the naira. The IMF and the World Bank has been edging Nigeria to float the Naira (remove all subsidies and open our ports) since the time of IBB. They achieved this through Tinubu. Once the dollar has crossed the N1000 mark, the next mark is N2000. I predict it to hit that mark within the first term of Tinubu. At the rate the naira is falling, it might make it in 2 years. 7 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by BloomingDale(f): 3:03pm On Sep 26, 2023 |
NotMagicBishop: Did you vote for Emefiele? Who did you vote for that hired him? You voted an incompetent fool and now you are coming here to cry? The pox take you. 2 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by nairalanda1(m): 3:03pm On Sep 26, 2023 |
soccerlite: USA that is a producer nation? USA exports diversified products. That's why they have the cash. We just export oil, and the oil we sell yields a revenue that isn't enough for half our population, and that is before looting comes in. |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by wittywriter: 3:03pm On Sep 26, 2023 |
Pure crap! Wittyness |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by alizma: 3:05pm On Sep 26, 2023 |
They are correct, some Nigerians now gamble with the dollar as a way of doing business. They buy the dollar and keep for a while, then sell to make profit 1 Like |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by BloomingDale(f): 3:05pm On Sep 26, 2023 |
ogbonti: More like what Buhari did. Not Tinubu. |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by mycar: 3:05pm On Sep 26, 2023 |
NotMagicBishop:Where did Emefiele leave the exchange rate? Fools blame every other person except himself and his A members 3 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by debeginin(m): 3:05pm On Sep 26, 2023 |
3seriez:But when Emefiele implemented cashless policy we all hurled insults at him. He was right after all. 3 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by deewhydoski(m): 3:07pm On Sep 26, 2023 |
Jcomtrader:Best way is to earn in dollars not to save in dollar. So earn in dollars before you save in dollars Na person wey get money dey save oo 1 Like |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Donedeal1(m): 3:07pm On Sep 26, 2023 |
Caused by unpatriotic officials Voodoo economist Causing pain everywhere. |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by adisabarber(m): 3:08pm On Sep 26, 2023 |
wirinet: When a leader refuses to practice common sense economics, that is what will happen. Whatever you read in school has to be balanced with common sense. Floating the Naira when we are currently servicing debt with almost all our forex earnings is nothing short of foolishness. 10 Likes 1 Share |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by RepoMan007: 3:08pm On Sep 26, 2023 |
3seriez:The man who took it from N450 to N770 in 4 month is a genius, don't mind uncle meffy. 5 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Seun(m): 3:08pm On Sep 26, 2023 |
adisabarber:The naira floated for just a couple of days. That was when the parallel market rate and the official market were the same. After that, they started intervening both by selling dollars at ridiculous prices and also later, by restricting the bids on the market. So it was just a devaluation in the end. 2 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by SirLakes: 3:09pm On Sep 26, 2023 |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Boldideas: 3:10pm On Sep 26, 2023 |
Seun: When did IMF start meaning good for our economy? 3 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Seun(m): 3:11pm On Sep 26, 2023 |
wirinet:Before Tinubu the official market was practically nonexistent. Nobody could access forex. Floating isn't the problem. It's demand and supply. 6 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by NotMagicBishop: 3:11pm On Sep 26, 2023 |
mycar: Ohu, Emefile's exchange rate was not realistic. 1 Like |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Rhassidy360: 3:12pm On Sep 26, 2023 |
Raskimonojendor:5/6 |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by NotMagicBishop: 3:12pm On Sep 26, 2023 |
BloomingDale: Who voted Tinubu? Bloomingdale don't let me call you an Ohu for I know you are not one |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by ponishah: 3:13pm On Sep 26, 2023 |
Seun:It'S very big lie , The amount of dollar that enter into Nigeria especially through yahoo yahoo is very huge. |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by CedarHoldings: 3:13pm On Sep 26, 2023 |
Cant we switch to Chinese currency since we trade with each other alot, this dollar matter na wahala o. Well in my layman thinking sha. 1 Like |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by ConfidentialDoc: 3:14pm On Sep 26, 2023 |
Yawn.... ! |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by omoyeni37: 3:14pm On Sep 26, 2023 |
iCauseTrouble:Boss, please no amount is too much sir, if it's 500 naira, i will gladly appreciate 🙏🙏 |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by DIVINEEVIDENCE: 3:14pm On Sep 26, 2023 |
iCauseTrouble: Is the project fund quoted in Naira or USD? |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by just2endowed: 3:15pm On Sep 26, 2023 |
adisabarber: tinubu number one mistake...the dude went to nyse to state that he has floated the naira and the west were giving him a clap and the thinks he is doing well, but not knowing he is putting his nation on an hyper inflationary hell of fire. he never thought about production and investment. 2 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by Menclothing: 3:16pm On Sep 26, 2023 |
We need to increase our export drastically Dangote and every company selling made in Nigeria products demand for dollars outside Nigeria |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by jaytimeo: 3:16pm On Sep 26, 2023 |
Lies from the pit of hell why not tell us how our politicians loot our collective wealth, it’s just corruption,why not talk about the cost of governance, why not talk about illegal mining,why not talk about the amount of monies our politicians put if foreign banks ,why not talk about why you forced us to take austerity measures for our economy to recover why has finally damaged our economy and our currency, with subsidy and naira pegged to the usd we had it better 3 Likes |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by iCauseTrouble: 3:16pm On Sep 26, 2023 |
Naira DIVINEEVIDENCE: |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by trevorlinda: 3:18pm On Sep 26, 2023 |
Na so we see am |
Re: There Are Too Many Nairas Chasing Too Few Dollars - IMF Rep by just2endowed: 3:18pm On Sep 26, 2023 |
oyinbo man wrote economics book and a course for us. they wrote those economics principle base on the condition of their countries and comparative advantages they have in favour of other nations. but imf told emilokan to float the ni=aira and the johnny quickly implement it without studying his on economic and designing her own economic principles and theory. 1 Like |
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