I keep wondering who will bid so high for the naira in this very tough economy.

Definitely not manufacturers as most are shutting down because of both global inflation brought about by the hangover Covid supply chain crisis and the poor economy.


It also can't be importers because importers will prefer a strong naira so as to be able to sell their goods at affordable prices.

I also considered Buhari cabal and their huge stash of loot but I am waving them off because it's been close to a year they left power and they must have since laundered all their loot already.

The only people I suspect are the thieving governors whose allocations from FAAC have in some instances, doubled.

These governors are the only ones enjoying the fuel subsidy removal and have done next to nothing with the windfall from the removal of subsidy.

I strongly believe they are the ones bidding against the naira by rushing to convert their new found loot to FX .


If you noticed , anytime FG shares money with FAAC, naira value crashes within the week.


It's the governors and only the governors that are using the FX market to launder their loot.

Seems the devil has finally removed peter obi \ igbos from your lying tongue.....may it be permanent.

What have the governors done with their increased allocation ?

Nothing!

Even to increase workers salaries in these tough times they haven't or only added small change to state workers salaries.

One like that even got caught making budgetary proposal to buy two Hilux vans for #1.5bn.


The real looting is happening at the state level.

Phoen1X:
Seems the devil has finally removed peter obi \ igbos from your lying tongue.....may it be permanent.

Shift

So it's no longer our Brazilian hairs and make over kits??


Useless government

TINBU IS AFRAID OF GOVS

Says Tinubu's fraud cow.

Poster is right.

The state govs are not doing any new thing with the sudden cash they are getting after subsidy removal and naira devaluation. I blame Tinubu for trusting them to do the right thing with such level cash.

Let only old project be maintained or new one streamlined into templates. By streamline into templates, I mean only new projects like hospitals or school buildings should be commenced and it should fit a cost template such that the the FG determines the price, size and format to reduce looting.

If you know the amount politicians are taking out of this country to by cars and properties in London you will cry. You

Every other thing besides Tinubu and his clueless team is responsible

Who removed subsidy (and still pays from the backyard) and floated the naira at the same time without sense?

Didijiji:
Every other thing besides Tinubu and his clueless team is responsible

Who removed subsidy (and still pays from the backyard) and floated the naira at the same time without sense?

d thing tire me ooo,
dem go soon blame rain 🌧️☔ or sun ☀️ 🌞 for d Naira/dollar matter

Lol so its no longer binance? Clueless people and their supporters always look for whom to blame except themselves