PotatoSalad:

Did you grow up in a gated community?

What does this have to do with anything?

tctrills:

Great. I love this. Where do you stay and let's set the parameters.
I am not in the country but if you are in Lagos my sister would represent me

Drop your sister phone number or yours, we will link up in VI on monday morning.

But how we will place the bet be the koko, I can't give my 1 naira to anybody I don't know yo hold o

Fake News.

Let CBN continue using paracetamol to treat cancer!

I just checked and nothing has come down and change fx every day.

E lo fokan bale, the master strategist will fix Nigeria when he returns from France.

He will perform the same miracle that has turned Lagos to NYC.

DeOTR:

What does this have to do with anything?

So you did grow up in a gated community.
No wonder

Paraman:
One kid was telling me dollar will shoot up to $/#2000 yesterday because abokis decide not to sell or buy yesterday in some part of abuja.

and it will happen. This is temporary relief which will be mopped up within days

anonymous1759:


Some people barking like dogs online about the dollars are part and parcel of the problem why dollars is high because of greed. But trust us as Nigerians we always look for a scape goat to blame our greed and incompetence on .

I wish Nigeria well and President, God will not give some people happiness this year because their happiness is tied down to the down fall of Nigeria so they can massage their Ego for an election they lost woefully with evidence everywhere.

Another lunatic on rampage.

You said thesame when it was in 500, now its in 1400 You will still say thesame at 2000 while defending it against 3000.
You should use your brain

Paraman:
One kid was telling me dollar will shoot up to $/#2000 yesterday because abokis decide not to sell or buy yesterday in some part of abuja.

CockPit:
Fake News.

Let CBN continue using paracetamol to treat cancer!

I just checked and nothing has come down and change fx every day.

E lo fokan bale, the master strategist will fix Nigeria when he returns from France.

He will perform the same miracle that has turned Lagos to NYC.

Hahaha only people celebrating this rubbish are the ones that have nothing to do with foreign currency.
All these gymnastics change nothing

aariwa:
Smh…can’t these people use common sense. This is a business opportunity for speculators to buy up all the dollars in circulation at a good price and become their own BDCs. The biggest profit will come when dollar scarcity hits…new billionaires will be created this year courtesy of emilokan daft policies..chai…if you know you know

How much is $5 billion converted to naira at the rate of $/1500

Good steps but going forward there has to be stiff penalties (fines, priviledges revoked, etc) for any bank or finance institution found culpable in hoarding Fx or engaged in sharp practices, its done even in developed countries banks get fined all the time when found going outside regulatory framework.

anonymous1759:


Some people barking like dogs online about the dollars are part and parcel of the problem why dollars is high because of greed. But trust us as Nigerians we always look for a scape goat to blame our greed and incompetence on .

I wish Nigeria well and President, God will not give some people happiness this year because their happiness is tied down to the down fall of Nigeria so they can massage their Ego for an election they lost woefully with evidence everywhere.

Same way you guys wished Nigeria well during GEJ regime, bunch of hypocrites

michlins:
and it will happen. This is temporary relief which will be mopped up within days

Lol

Who are the people who will mop up $5 billion in days?

How much naira do you think is needed to mop up $5 billion? Where will they get the naira from?

Our corrupt politicians and the CBN are still playing to the gallery.

Is the dollar 💰 💰 spike the major problem Nigeria is facing now, Nigerians are not ready yet.

Paraman:
Which $8 billion debt? The backlog is not up to $8 billion and Nigeria has paid between $3.5 billion to $4.5 billion. The backlog is about $6.5 billion.

Yes, we are saying the same thing.

SKYHIGHfx:


Same way you guys wished Nigeria well during GEJ regime, bunch of hypocrites

I’m not Anti Nigeria I never wished GEJ bad I voted for him 2011. I don’t play bitter politics look for someone to do that with I’m not bitter .

ogbe88:
Another lunatic on rampage.

As long as your happiness is tied down to the down fall of Nigeria your mind no go touch ground .

Faiththatworks:
I can say for a fact that NNPCL already told us petrol is no longer subsided

^^^
NNPC didn't tell you the truth.

There is still a subsidy on PMS imports.

Faiththatworks:
My economic theory is very simple and I hope I get some Intelligent rebuttals,anyone buying Usd this high at 1$ to 1400,will never make a profit on whatever they import. No right thinking importer will do business at such a ridiculous rate and still expect to make a profit,so who's buying this Usd.

^^^
Incorrect.

As long as the cost can be passed on to others in the value chain, people will continue to import at that rate.

Example: I buy US$ at the 1$ to N1400 rate to import vehicle brakes and shock absorbers. Its much costlier than before but commercial vehicle owners need to keep their cars on the roads, right? The cost is passed on to the passenger in the form of higher fares. The rules are clear: if you can't pay the higher fare, don't board my vehicle.

And...because people need to get to work or they'll lose their jobs etc., they have no choice but to pay the higher fare. And if these people can do so, they also push up the prices of whatever they sell...and the game of 'pass me the hookah' continues...without end.

Paraman:
Lol

Who are the people who will mop up $5 billion in days?

How much naira do you think is needed to mop up $5 billion? Where will they get the naira from?

the same people who liquidated our excess crude account, liquidated our external reserves. They're still waiting for the government to push dollars so they can mop up and resell at premium. Same people who mopped up the $3bn afrimbank loan for crude.


And no, Nigeria banks don't have dollar reserve of up to $5bn. It's merely a propaganda

michlins:
the same people who liquidated our excess crude account, liquidated our external reserves. They're still waiting for the government to push dollars so they can mop up and resell at premium. Same people who mopped up the $3bn afrimbank loan for crude.


And no, Nigeria banks don't have dollar reserve of up to $5bn. It's merely a propaganda

k

SoNature:


Yes, we are saying the same thing.

At the rate the CBN is going, the backlog will be cleared before the end of march

ironheart:
The BDC are shutting down to drive up the value of dollars, but if the CBN sustain this current drive, i bet you that the BDC guys will get burnt

You be J. J.C for Nigeria - Economic policy. The BDC guys will rather burn the government because Nigeria does not earn dollars apart from oil and gas

anonymous1759:


Some people barking like dogs online about the dollars are part and parcel of the problem why dollars is high because of greed. But trust us as Nigerians we always look for a scape goat to blame our greed and incompetence on .

I wish Nigeria well and President, God will not give some people happiness this year because their happiness is tied down to the down fall of Nigeria so they can massage their Ego for an election they lost woefully with evidence everywhere.

And your point is?

I give it 2 months

With my experience with one of the banks today, these banks still found another method to hoard these hard currencies.

Mitsurugi:


And your point is?

We shouldn’t sabotage ourselves for selfish gains at the expense our country.

dettolgel:
We need a lasting solution not a temporary one. Once they offload the dollars what next?

It will rise again... our leaders are all clueless!

There is no way out of the forex crisis until the floating of the naira is reversed or BDC is scrapped.

StarRida:
The only lasting solution is to sack the current CBN governor he gat nothing to offer

When u don't understand what he is doing just wait

Paraman:


https://punchng.com/naira-rebounds-as-banks-offload-excess-dollars/?amp

The news did not tell us the new rate

Opintiwa:
Last kick of a dying horse

See you guys in 2k per Naira

In ya mandate ehen 🤣🤣🤣🤣

Nigeria is used to hatred from foreigners, Cameroon and Ghana are doing there’s so Biafra’s own won’t be different so keep laughing at your downfall😌😌