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Nairaland Forum / Nairaland / General / Politics / Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market (36847 Views)
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Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by blacknp(m): 4:39pm On Apr 11 |
Wizpa:9 years ago?please stop living in the past. 3 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Wizpa(m): 4:41pm On Apr 11 |
blacknp: Do you use your brain at all? Or you don't have a brain?? or you have but not educated?? Because I don't understand the stupeed point you're trying so hard to make here 1 Like 1 Share |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by blacknp(m): 4:41pm On Apr 11 |
Noblemanonpoint:You definitely know wetin deyβsup. 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by blacknp(m): 4:43pm On Apr 11 |
Wizpa:Stop living in the past, look π to the future, the past is behind, why you no kuku tell us how much Naira to dollar was in 1990 as comparison to curse APC? 2 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Wizpa(m): 4:50pm On Apr 11 |
blacknp: Oh I understand the reason for your illogical statement, because you are an APC member, so because I should look into the future, Naira should keep depreciating against the dollar. You're comfortable with a minority winning while the majority is in penury, it will never be well with those that Harbour such mindset. 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by blacknp(m): 4:52pm On Apr 11 |
Wizpa:Please gerrout, Naira is deprecating Indeed, what are you doing to help defend the Naira, what commodity did you export, or service did you render to bring forex into Nigeria? Confused incoherent Thing. 3 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Rumundele(m): 5:02pm On Apr 11 |
Finger crossed |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by BurntDodo: 5:22pm On Apr 11 |
StPete: π€£π€£π€£ The foolishness is beyond me. What's crazy is Tinubu can never bring the naira to be N700 cos the gap between USA and Nigeria has been further widened since Buhari. There hasn't been any effort put towards the development of Nigeria, it's all been investment and investment doesn't actually give value to the country, only to the investors. So, for Tinubu 2nd term, all he has to say is "I revalued the naira" around 900/$ and some will fall for it. 3 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by GerogeI(m): 5:31pm On Apr 11 |
Naira is basically reverting back to where Buhari left it, simply because Tinubu has ended his so called floating of the Naira. CBN is supplying USD and fixing the price via the price at which they sell to BDCs etc. Hence naira is no longer floating viz a viz no longer under free. Delete this post again and die 3 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by BurntDodo: 5:41pm On Apr 11 |
blacknp: ππππ I'm sorry I know you didn't quote me but I just had to intervene. An elder cannot be in the market and see a baby's neck in an uncomfortable position and look away. That other guy is absolutely correct. Quick Economics -- the one true process that can strengthen the naira against the dollar is development. The question is, is the Nigerian government developing the people? (1) When the Nigerian government develops the children, it means the kids get the best schools in the world and that brings foreigner's kids who have to look for naira. (2) When the Nigerian govt wants to develop its people's quality of life, the best hospitals will be built for them and docs and again foreigners troop in. (3) Again, when the govt wants to develop it's people, it'll provide easily accessible loans for even poor people, for small scale refineries and those kids you see building funny looking cardboard cars to engage in business to tackle local challenges in which the best idea gets to bring in Forex. In this way, Nigeria will never be dependent on the dollar. But what your govt does is bring in investment. What is investment? Put small in Nigeria and take plenty out of Nigeria. It'll never be enough. Follow MOP centre on social media so we can liberate Nigeria and quit being dependent on the dollar. 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by drlateef: 5:42pm On Apr 11 |
KillIgbohoN0W: Yes, because he does not know how to return things to normal. So he just goes with the flow and Nigerians will suffer most at the end of it. |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by CartelKenneth: 5:52pm On Apr 11 |
garykoeman: You will be long dead before his tenure is over sef Why am I wasting time on this worthless fool sef my Indomie dey fire π |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by t2luv1: 6:04pm On Apr 11 |
Noblemanonpoint: Partner it wasn't an agreement it was based on trust. China tried to impose Yuan that didn't work out because they weren't transparent regarding what was going on with their economy. The US is an open society which is why other countries develop confidence in their economy. 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Terrahawk: 6:05pm On Apr 11 |
Meanwhile, Peter Obi is still looking for his stolen manhood ππ€£π. . |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by adeolamighty: 6:17pm On Apr 11 |
dibunotion: Enemy of progress |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Eriokanmi: 6:29pm On Apr 11 |
garfield1:That doesn't address my point. It was same tinubu who was campaigning for Buhari in 2015 and said 250 naira to 1 dollar was very bad. Under his watch as the national leader of the same party, naira kept hitting the rock. He advised buhari to print more naira and it added to the worthless status of the naira. He came and floated it and naira kept falling until it hit almost 1,800. Now it's 1200 and you're jubioating, something he contributed hugely to its destruction? Smh Why is he rescuing the naira after he had acussed same party man (buhari) of doing same? Nigeria get problem no be small. And you guys are saying Nigeria should develop with psychophants like you at work? What a joke 2 Likes 1 Share |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by garfield1: 6:41pm On Apr 11 |
Eriokanmi: How many of his advises did buhari take? Where you not iubilating when late kyari and the cabal tried to stifle his influence? Under him,he has corrected his errors unlike others.keeo aside the hatred and praise him 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by ADSP116(m): 6:44pm On Apr 11 |
One of the speculators is spotted here,cardoso,EFCC,ICPC come catch him.most of you wish to live a good lives but yet keep predicting dooms for your country dibunotion: 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by IbeOkehie: 7:04pm On Apr 11 |
t2luv1: You make a good point. However the USA government is seriously undermining their economy with financial recklessness. Overspending and borrowing, pandering to every interest group with government money. The dollar is on borrowed time, so to speak. Nigeria is much worse than the USA in every way, sure Naira is worse than dollar, but the dollar itself isn't as good as it used to be. It's a really sad situation we have here. Again I understand you, I'm trying to impart some perspective. Have a good day. Good Luck to Nigeria. |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by folake4u(f): 7:24pm On Apr 11 |
I'm still not impressed. Let it go back to 500. |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by GerogeI(m): 7:45pm On Apr 11 |
t2luv1: Na Lie. It's basically backed by military might. How much is your country owing the Paris club? If they call for that loan because you are a threat, they have themilitart might to seize any of your national assets, including the ones in your own land. And including you, as they did Gaddafi. This is the first consideration for all countries, followed by economic might, which means that USA can find a convenient reason to place economic sanctions on you once they consider you a threat. And all countries that want to continue doing business with USA will dutifully observe the sanctions, what ever the reason. That's where Iran is today, they can't even sell their own oil freely. That Tom is a bully, and Tom says he is the leader, so no one wants to challenge Tom. Hence, every one says Tom is the leaders, look he so strong and Reliable, and handsome - is a social effect of being dominated, and is akin to saying Dollar is so reliable and transparent. Transparent, as if USA announces whenever they print more paper money at the expense of everyother country. |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Sicilyjoe: 8:17pm On Apr 11 |
But why price of food items keep increasing, garri is 2500 a painter now, one cup of rice is 350-400 , beans 300 and so many other items that is below its current price when dollar is 1800-1900 |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by goldmatrix(m): 8:24pm On Apr 11 |
The rise and fall of dollar in Nigeria is just a curse to common man. |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by predictor1: 8:36pm On Apr 11 |
Wizpa:Don't mind them. Naira that used to be #100 before Jonathan got there. 2 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by kingxsamz(m): 9:10pm On Apr 11 |
garykoeman: πππππ Nobody is more fuuIish and delusional than Tinibooo supporters. Greatest president because he did what exactly? What has the failure done? 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by yommen: 9:16pm On Apr 11 |
KillIgbohoN0W: He still has 3 years to go. Bringing $ down by N700 is not a joke. If he is able to bring it back to N700 at least, it's beginning of something good then. 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by yommen: 9:23pm On Apr 11 |
dibunotion: See your earlier comment. A confused human being who doesn't know where he stands. I guess you are actually among those that are sad that Naira is appreciating. Your shame will know no bound by December.
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Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Killermamba: 11:16pm On Apr 11 |
garfield1:up your ass, from 600 to 1100. 1 Like |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by masseratti: 11:30pm On Apr 11 |
StPete:oga when tinubu came in Nigeria had only $7b in foreign reserve that it can touch to do anything ..the rest were loan tied, government couldn't defend the dollars anymore ..they had no choice than to float the naira and implement reforms in the market..let's say the truth abeg ..am so cool with the fact that now everyone buys in same market no more official market for govt officials and likes of dangote ,airlines to do business and rip common Nigerians like you and me off...thats the real meaning of floating the currency...plus illegal FX transactions on the streets should be forbidden and should be a crime..do you see black market dealers in China or Usa ,UK?hell no they won't allow it why are we allowing such for over 5 decades now ..why won't our money keep on going down ?if such activities is allowed to trife. 2 Likes |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by Noblemanonpoint: 11:52pm On Apr 11 |
t2luv1: No, very wrong. The Bretton Woods Agreement in 1944 chose the USD as a global reserve and it's backed by Gold. China can't just go all out and decide to use it's currency as reserve, it needs to do international trade with countries that deal in USD. There's no international demand for Yuan, serious mega framework has to be put in place for that to even be conceivable. Reason why the BRICS hasn't kicked off yet. |
Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by StPete: 8:20am On Apr 12 |
masseratti: Stop capping rubbish. Donβt write a whole bunch of crap out of ignorance. Source: https://www.thecable.ng/cbn-foreign-reserves-dropped-to-33-23bn-in-q3-2023-lowest-in-2-years/amp/#
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Re: Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market by judedwriter(m): 10:10am On Apr 12 |
garykoeman: Amen o π |
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