BlueRayDick:


He wan dey whine federal

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

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

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.

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

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

Itsrm:
https://www.nairaland.com/8037068/naira-eyes-n1300-parallel-market

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

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.

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.

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?

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

TrustNone:
sorry for tagging you earlier, it was a mistake, I meant to mention folake4u and not you.
Sorry boss

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

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?

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?

Itsrm:


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

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.

Itsrm:
https://www.nairaland.com/8037068/naira-eyes-n1300-parallel-market

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

iamoyindamola:

Because oto jo meta them lose

Incognito9:


Unpatriotic citizen

So you're still doing naira arbitrage

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.

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

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

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

BlueRayDick:


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

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.

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.

BlueRayDick:
What I realy don't know is why this Gumi man is still a free man

https://www.nairaland.com/8037110/labelling-some-nigerians-terrorism-sponsors

iamoyindamola:

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

OasisX:


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

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.

Itsrm:


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

Itsrm:


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

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.

OasisX:




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

Itsrm:


Thought you were advising us to buy the dip