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EPL Chatroom - All Discussions - European Football (EPL, UEFA, La Liga) (4456) - Nairaland

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EPL: Huddlesfield Town Vs Manchester City (full time) 1-2 / EPL: Weekend's Results, Updated Premier League Table And Top Scorers / EPL: Five Things We Learnt From The English Premier League This Weekend (2) (3) (4)

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Re: EPL Chatroom - All Discussions by iamoyindamola(m): 10:19am On Mar 21
BlueRayDick:


He wan dey whine federal grin



Because oto jo meta them lose grin
Re: EPL Chatroom - All Discussions by Itsrm(m): 10:22am On Mar 21
BlueRayDick:


If we remove occasional from the sentence, it means ur fans always call for Pochetinho's sack everytime u lose which is like once or twice in 3 match streak grin

I think u should thank afrodoc for offering u the services of Southgate to lift u out of the 10th zone.

No, it means calls for his sack are more emotional than rational.

Just go to manu's thread. Even when they win, they are asking for ETH to be sacked.
Re: EPL Chatroom - All Discussions by afrodoc2: 10:22am On Mar 21
Itsrm:


Apart from ocassional emotional outbursts when we lose, no one on our thread is saying Poch has to go.

And let me rephrase. Depending on what side of the divide you are, there's an agreement that we either need to improve the attack, defence or both.

Go to your thread, win, lose, draw, ETH must go. cheesy




Occasional?

Re: EPL Chatroom - All Discussions by afrodoc2: 10:24am On Mar 21
BlueRayDick:


If we remove occasional from the sentence, it means ur fans always call for Pochetinho's sack everytime u lose which is like once or twice in 3 match streak grin

I think u should thank afrodoc for offering u the services of Southgate to lift u out of the 10th zone.

Chelsea fans are ingrates. I offer am soft landing the guy no wan collect. They won't even have to pay relocation fee for Southgate since he won't have to move from his present London residence.
Re: EPL Chatroom - All Discussions by Incognito9: 10:33am On Mar 21
Itsrm:
https://www.nairaland.com/8037068/naira-eyes-n1300-parallel-market

Now, it looks like someone in the govt. is sponsoring these headlines. grin


Aswear they just dey whine themselves cheesy

1 Like

Re: EPL Chatroom - All Discussions by LordAdam16: 10:34am On Mar 21
Itsrm:


I don't think yesterday has anything to do with CBN. The slide started in the early hours of the day before NAFEM even opened. Check P2P buy rate today, it's almost at 1500.

monierate.com.
You'll observe the pattern.
For instance, CBN just updated their rate for yesterday within the hour.
But NAFEM has already updated their rate at close of business day yesterday.

So while NAFEM is showing 1496 for 20th. CBN was still displaying 1561 for 19th until 10am.
Watch what happens later today in the parallel market, since the CBN rate is 1409.

The impression I'm getting from the CBN is that they are happy to keep the rate around 1500 seeing how easy it is for them to defend.

The CBN has not visibly intervened since they sold at 1300 to BDCs in late February.
They suspended their intervention so they could clear the remaining backlog they'd promised to clear in two weeks.
Now that they've cleared that, they're back.

It's also possible they want to depress the rate before they increase the MPR yet again next week.
The next TBill primary auction is next week as well.
So maybe it's a temporary intervention likee last time.

This is why I don't buy that the naira is undervalued.
No one wants to sell at less than 1500.
The intra-day high is unchanged in the NAFEM at north of 1600.
The fluctuation we're seeing is entirely of the CBN's making.

Btw, what happens after one year when the OMO and tbills they sold mature and investors start moving their money? They will roll out high interest rates to keep them?

The investors can even move their money before then.
As you know, TBills interest is paid upfront and there is a secondary market to offload your bag before tenure ends.
When Powell and co start cutting rates in the second half of the year, smart money will start moving back into Western stocks and assets.

The priority is not to keep them.
The priority as of February was to do whatever it took to stabilize the rate.
Essentially, the Tinubu administration is fine with taking a loan at north of 40% to stabilize the rate.

Ideally, since they've cleared the backlog, should the FX stability last for more than one quarter, some daring investors may then begin to consider bringing in FDI.
The prized form of investment that actually create jobs and is not hot money.
In-country speculation may also dampen.

Sometimes I wish I can have a peep into the future. cheesy

It is worth pointing out that there are contrarian forecasts.
EIU expects a continued weakening by end of year.
They predict 1770 vs Goldman Sachs' 1200.

It's why I talked about the Summer being a big test.

-Lord

1 Like 1 Share

Re: EPL Chatroom - All Discussions by FOLYKAZE(m): 10:36am On Mar 21
TrustNone:
sorry for tagging you earlier, it was a mistake, I meant to mention folake4u and not you.
Sorry boss

🤝🤝

1 Like 1 Share

Re: EPL Chatroom - All Discussions by Incognito9: 10:36am On Mar 21
Itsrm:
Meanwhile, I almost bought at this price yesterday but developed cold feet.

Could have flipped it today at a gain of 50 naira per dollar.

Fortune favours the brave cheesy

Unpatriotic citizen sad

So you're still doing naira arbitrage wink

If you're a crypto trader u don't need to be checking naira/usdt rate, just buy at any f**kin price u see it and trade ur coin jeje.
Re: EPL Chatroom - All Discussions by Ibime(m): 10:42am On Mar 21
Ellexy:
The CBN injected that amount into the economy between January - July 2022. That's almost a year before Tinubu was sworn in. From August 2022 to May 2023 was CBN still doing the same?

You are all over the place, confusing defending of Naira with FX to printing money. Meffy spent $11bln in 7 months in legitimately earned FX to DEFEND Naira. This is not the same as printing Naira. So if you can't distinguish between the two. what further conversation is there to have?

The 7 months of Meffy spending FX is just a snapshot of time. Meffy spends FX every month like any CBN Governor, so you putting a finite date on it just shows you lack understanding of what you are debating. Defending of Naira with FX is an ongoing process that never stops, from 1980 till now. Even Cardoso is doing It now but to a much lesser extent and with much more limited FX. It must be done year in, year out, month in, month out to keep Naira value stable. Sanusi over the course of his tenure defended Naira with over $20bln in legitimately earned FX for example. Tinubu met the FX depleted because Meffy had pledged most of our FX as collateral against Govt borrowing, and that's why Naira is gyrating.

As a SEPARATE action, Meffy was printing Naira to balance Buhari budget by Ways and Means which is what you attributed to Tinubus call to jumpstart the economy in the wake of the March 2020 crash caused by COVID, which is an untrue allegation. Nobody asked Meffy to be printing for Business-As-Usual, Meffy was only asked to do quantitative easing in response to COVID crash, a one time shot to jump start the economy which most countries did.


Ellexy:

In between that time frame naira was fairly stable till Tinubu got sworn in, made a reckless subsidy gone speech and everything spiked overnight. What caused the sudden spike on all fronts? Emefiele's defence of the naira 9 months ago? Lack of fx to continue defending the naira?

Simple and plain, YES at the bolded.

It is my job to give you information. It is your job to interpret based on your level of understanding, or to run agenda based on your political affiliation.

5 Likes 1 Share

Re: EPL Chatroom - All Discussions by Theflint1(m): 10:47am On Mar 21
Itsrm:


No, you can only sell to them. You can't buy.

Okay, thanks.
Re: EPL Chatroom - All Discussions by BlueRayDick: 10:52am On Mar 21
afrodoc2:


Chelsea fans are ingrates. I offer am soft landing the guy no wan collect. They won't even have to pay relocation fee for Southgate since he won't have to move from his present London residence.

Dem no just like easy solutions. Itsrm leave him own appendicitis go dey pay for another person plastic surgery. grin
Re: EPL Chatroom - All Discussions by LordAdam16: 10:53am On Mar 21
Itsrm:
https://www.nairaland.com/8037068/naira-eyes-n1300-parallel-market

Now, it looks like someone in the govt. is sponsoring these headlines. grin


If they want it at 900, it'll get there.
They control the narrative now.

All the CBN has to do is sell $1m to someone at 850.
And the rate will fall the next day.

But they'll have to continue selling at 850 to keep it that low or it'll snap back to 1600.
I don't think you can even call it a free or managed float.
This is plain rate pegging.

And when it fails, and rates start increasing by 100-150 per day to 2000; the uninformed will say saboteurs are back to artificially devaluing the naira.
You cannot artificially increase the naira's value and expect the subsequent fall to be natural.
For their sake, I hope they have dollars somewhere they'll use to defend their peg.
Nigerians use cheap dollars for one thing only. IMPORTATION.

-Lord

6 Likes 1 Share

Re: EPL Chatroom - All Discussions by BlueRayDick: 10:53am On Mar 21
iamoyindamola:

Because oto jo meta them lose grin

U know when suffer don forget person and person go remind am? That's what itsrm just did; dem go soon collect and we go see the usual emotional outbursts
Re: EPL Chatroom - All Discussions by Itsrm(m): 10:57am On Mar 21
Incognito9:


Unpatriotic citizen sad

So you're still doing naira arbitrage wink

If you're a crypto trader u don't need to be checking naira/usdt rate, just buy at any f**kin price u see it and trade ur coin jeje.

Yes, I know. Just wanted to flip that but I felt the risk/reward was not worth it then cold feet set in.

1 Like 1 Share

Re: EPL Chatroom - All Discussions by Itsrm(m): 11:00am On Mar 21
LordAdam16:


If they want it at 900, it'll get there.
They control the narrative now.

All the CBN has to do is sell $1m to someone at 850.
And the rate will fall the next day.

But they'll have to continue selling at 850 to keep it that low or it'll snap back to 1600.
I don't think you can even call it a free or managed float.
This is plain rate pegging.

And when it fails, and rates start increasing by 100-150 per day to 2000; the uninformed will say saboteurs are back to artificially devaluing the naira.
You cannot artificially increase the naira's value and expect the subsequent fall to be natural.
For their sake, I hope they have dollars somewhere they'll use to defend their peg.
Nigerians use cheap dollars for one thing only. IMPORTATION.

-Lord

Now you see the point I was making the other time. They are very happy to keep the exchange rate as it is now. Any attempt to force it down, they have to continue forcing it. This will put pressure on the reserves in no time.
Re: EPL Chatroom - All Discussions by Ibime(m): 11:08am On Mar 21
LordAdam16:


It's not necessarily sensationalist.

Since the demise of Binance P2P/NGN Spot, the parallel market rates (both P2P and Aboki rates) now track the CBN rate.
https://www.cbn.gov.ng/rates/ExchRateByCurrency.asp
Thus, the CBN can now manipulate both the NAFEM and Black Market rates.
All it has to do is sell a tiny amount in NAFEM at a super low rate, and it'll drag down its rate as well as the NAFEM and Black Market rates.
In fact, yesterday it sold at 1350 and that's what dragged the NAFEM rate to 1492.
Today's CBN rate would be less than 1450 and P2P/Aboki will buy at less than 1400.

Why is all of this happening?

Let's circle back to February.
The CBN made a backroom deal with foreign investors.
It'll dramatically increase the fixed-income rate.
The investors will bring their FPI dollar to buy the naira-denominated TBills.
And thanks to the $ inflow, the CBN+FG will use a combination of unorthodox and orthodox measures to drive down the exchange rate.

It's a no-brainer.
The early birds brought in $500m+ (closer to $1B) at 1600+ rate.
And that's why the CBN sold an unprecedented N2.5T in TBills in two weeks.
https://nairametrics.com/2024/02/23/cbn-sells-another-n1-58-trillion-in-treasury-bills-interest-rate-at-19-for-364-day-bill/
A cross-section of analysts from the bulge bracket expect end-of-year rates to be lower than 1200.
Which means their expected ROI is to be 19%+ from TBills + 25%+ from naira appreciation.
At least 44%. Risk-free.
It's the play of the year.

Now, the CBN is keeping its side of the bargain.
We're in Spring. Dollar demand is habitually low this season.
In addition, the aforementioned high-rate fixed income pivot drove $ demand lower.
So it's remarkably easy for Cardi B to manipulate the rates.
Whatever his target rate is, he can get it with a few million dollars.

The first big test will be this Summer.
Demand will surge.
All the people who balked at vacationing at 1900, will splurge at 1200-1400.
Import numbers will rise.
In fact, in the short term (over the next few months), the humongous bill of this sly plan will become apparent.

All of that said, we should be looking at a couple of months of FX stability.
This is an unambiguous positive for the administration.
I still think Cardi B is in over his head.
But he has got his hard-fought W... for now.
At least, businesses should begin to notice an uptick in economic activity and those who had suspended japa plans should get back on the horse.

-Lord

Brilliant and enlightening summary
Re: EPL Chatroom - All Discussions by iamoyindamola(m): 11:14am On Mar 21
BlueRayDick:


U know when suffer don forget person and person go remind am? That's what itsrm just did; dem go soon collect and we go see the usual emotional outbursts
Shebi na itsrm he will soon start lamenting how they played well and still lose
Re: EPL Chatroom - All Discussions by afrodoc2: 11:17am On Mar 21
BlueRayDick:


Dem no just like easy solutions. Itsrm leave him own appendicitis go dey pay for another person plastic surgery. grin

grin grin grin
Club wey Cold palmer dey save from relegation battle.
Re: EPL Chatroom - All Discussions by larride(m): 11:18am On Mar 21
Itsrm:


Now you see the point I was making the other time. They are very happy to keep the exchange rate as it is now. Any attempt to force it down, they have to continue forcing it. This will put pressure on the reserves in no time.

Until the CBN has more than enough liquidity, the rate will stabilize around 1400 - 1600
Re: EPL Chatroom - All Discussions by LordAdam16: 11:21am On Mar 21
Itsrm:


Now you see the point I was making the other time. They are very happy to keep the exchange rate as it is now. Any attempt to force it down, they have to continue forcing it. This will put pressure on the reserves in no time.

Well, they are the ones forcing it down.
It was 1600 last week. It is 1409 today.
Nothing has changed besides CBN now selling as low as 1350.
If the CBN stops selling at a rate they can't defend, it goes back to 1600.

Anyway, let's watch and see where they will drop the anchor.

The guy's action is bewildering.
The analysts telegraphed him reducing it gradually to 1200 by end of the year, so they can at least pretend it is a natural value increase and so he can build the war chest to defend it.
Oga wants to do it in 1 week.

-Lord
Re: EPL Chatroom - All Discussions by BlueRayDick: 11:48am On Mar 21
What I realy don't know is why this Gumi man is still a free man undecided

https://www.nairaland.com/8037110/labelling-some-nigerians-terrorism-sponsors
Re: EPL Chatroom - All Discussions by iamoyindamola(m): 11:54am On Mar 21
BlueRayDick:
What I realy don't know is why this Gumi man is still a free man undecided

https://www.nairaland.com/8037110/labelling-some-nigerians-terrorism-sponsors
You see this country ehn grin grin
This man have been playing fore front in everything crime and violent in the north
Re: EPL Chatroom - All Discussions by OasisX: 12:14pm On Mar 21
grin

.....Ẹ̀gbọ́n mi, Itsrm, from una favorite handle sir. Make I pin am here. Buy the dip!!!!!!!

1 Share

Re: EPL Chatroom - All Discussions by BlueRayDick: 12:22pm On Mar 21
iamoyindamola:

You see this country ehn grin grin
This man have been playing fore front in everything crime and violent in the north

He's getting too annoying at this point in time. Imagine him saying terrorists don't have financiers, so they just found guns ammunitions on the road abi? They didn't buy them? Nobody gave them money to buy them?

Most of his arguments don't even make any sense. He wants federal government to negotiate with the kidnappers and bandits because he feels they embraced crime out of necessity. So federal government must strike a deal with them. smh

Maybe all of us too should embrace crime because country is hard and then force FG to come and negotiate with us.

One thing I noticed is that the man somehow believes the whatever deal was struck with Niger Deltan militants, same thing must be struck with his brothers in Sambisa and other forests in the north. He obviously thinks the Niger Delta situation (where oil exploration has left so many communities degraded environmentally ) is the same with the situation in the north.
Re: EPL Chatroom - All Discussions by Itsrm(m): 12:23pm On Mar 21
OasisX:
grin

.....Ẹ̀gbọ́n mi, Itsrm, from una favorite handle sir. Make I pin am here. Buy the dip!!!!!!!

If you see anyone selling at this price, I'll like to buy grin

1 Like

Re: EPL Chatroom - All Discussions by raumdeuter: 12:23pm On Mar 21
monerozi5590:
Finland, the happiest country in the world. 7th year in a row now.

Finland is more like a welfare state to me. Their social programme is great. Government somehow acts like a safety net to her citizens.

In Nigeria, our social programme is full of corruption and all. Our biggest problem is corruption.

What's the resources of Finland and what's their population
Re: EPL Chatroom - All Discussions by Incognito9: 12:26pm On Mar 21
Itsrm:


If you see anyone selling at this price, I'll like to buy grin

😁😁

1 Like

Re: EPL Chatroom - All Discussions by OasisX: 12:27pm On Mar 21
Itsrm:


If you see anyone selling at this price, I'll like to buy grin

grin

........wetin you want use $$$$ fess?! Buy and hoard?! LOL!
Re: EPL Chatroom - All Discussions by iamoyindamola(m): 12:33pm On Mar 21
BlueRayDick:


He's getting too annoying at this point in time. Imagine him saying terrorists don't have financiers, so they just found guns ammunitions on the road abi? They didn't buy them? Nobody gave them money to buy them?

Most of his arguments don't even make any sense. He wants federal government to negotiate with the kidnappers and bandits because he feels they embraced crime out of necessity. So federal government must strike a deal with them. smh

Maybe all of us too should embrace crime because country is hard and then force FG to come and negotiate with us.

One thing I noticed is that the man somehow believes the whatever deal was struck with Niger Deltan militants, same thing must be struck with his brothers in Sambisa and other forests in the north. He obviously thinks the Niger Delta situation (where oil exploration has left so many communities degraded environmentally ) is the same with the situation in the north.
What do they have to offer us than breeding multiple population for election
Re: EPL Chatroom - All Discussions by Itsrm(m): 12:39pm On Mar 21
OasisX:


grin

........wetin you want use $$$$ fess?! Buy and hoard?! LOL!

Thought you were advising us to buy the dip grin

3 Likes

Re: EPL Chatroom - All Discussions by OasisX: 12:40pm On Mar 21
grin

......Batists vs Obidients on X go loud sha. When Serah thought she has got Pastor locked up, she didn't know na trap.

Ijele that was invited and detained had nothing to do with her but dem dey claim am as victory. If WhatsApp chat I saw is real, then Ijele should serve jail time.

Nefertiti identity has been unraveled by Luca. His name name and picture are fully exposed, but aunty Funmi wants claim glory. LOL!

Re: EPL Chatroom - All Discussions by OasisX: 12:42pm On Mar 21
Itsrm:


Thought you were advising us to buy the dip grin

grin

......not in cash.

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