pendy79:
Any investor should take advantage of either diverting his investment or use the Warren Buffet theory to stock up his portfolio.

Though the indicators are bad for the Nigerian Economy at the moment it will be a huge risk to try invest in the Nigerian Economy at the moment.

The economy is messed up and we are supposed to have a Harvard trained professor co-ordinating it.

God will save Nigeria from the thieves ruling and managing our economy.

warrior01:


If I say you no get sense, you would think I insulted you. Anyway, sorry in advance

coldsummer:
[size=15pt]In simple English, how much is $1 to Naira.

Leave this english[/size]

charix:
...and here I was thinking our biggest loss was during the oil subsidy protest.

arsetalks:
I think it can only get worst for a while. Gives people like myself who withdrew their funds as far back as 2010 to come back to the market buying low. The crash can't continue.

Eye firmly on Access Bank, GTB and Dangote's listings.

pendy79:


Na, the biggest was during the global financial meltdown. The operators had to shutdown the market to.close trading to avoid complete collapse.

omenka:
And the tumble begins.

God help us. (For we don't have a functional government)

charix:


Not from the words of my business lecturers. They kept re-iterating the sentiment that failing economies at the time were only those run on credit and taxation majorly.

I had one specific tutor who made the global financial meltdown a running joke every class he took.

pendy79:


Yeah right if youre a student of Warren Buffet trade secrets and theory.

It could be a HIT or a MISS. The risk is worth taking if you have idle slush funds to tie down. But trust Real Estate is the Real Deal.

Chylo:
As at today, 9/11/14

1 dollar = 165.60 naira
1 pound sterling = 262.83 naira

pendy79:


You assume figures on google is the trading price right. Okay, take 165.60 to a bank tomorrow or to a bureau de change and seek for dollars.

Forget those economic magical stories you read or hear. The naira has declined. Only CBN can strengthen it and by the way, there is no trading today so the figure you have is not today's price but a carry over price.

pendy79:


Lol, from N163/164 it was trading 2 weeks ago, it is going for N174/175 depending on where you.are buying.

And the trend seems to be southward even next week before our foreign reserve has been depleted so there is little the CBN can do right now to cushion the shock.

Demdem:


Unfortunately as we proceed towards election period, I see it depreciate further to around N200 to a dollar. See no escape for the naira unfortunately.

pendy79:


N200 bros will be total collapse to happen. Every company that depend on importation will close up. Don't think it will get to N200 really.

That will be fatal to the Nation

Demdem:


Unfortunately I don't share ur optimism. I don't desire it also but as we proceed towards election where corrupt acts normally abound, i see more pressure on the naira.

pendy79:
Any investor should take advantage of either diverting his investment or use the Warren Buffet theory to stock up his portfolio.

Though the indicators are bad for the Nigerian Economy at the moment it will be a huge risk to try invest in the Nigerian Economy at the moment.

The economy is messed up and we are supposed to have a Harvard trained professor co-ordinating it.

God will save Nigeria from the thieves ruling and managing our economy.

gtrust:


That is the same Harvard Professor who established the Investment Trust Fund and refused to share "excess crude fund" wanted an excess crude account established for periods like these.
Amaechi and co fought her!

How can we forget so soon

pendy79:


The government had a Sovereign wealth fund, excess crude account and others. The NGF knew the money will be stolen if left in the hands of the FG and they have been proved right.

Reserve low, no excess crude account, just SWF. Where is the money now?

pendy79:


We can't to N200 before CBN acts. The implication of allowing it slide up to that level will be more hurting to the Government as it will affect them and their planning than the average man except for extra spending it will cause him base on price differential.

If Govt. allows it, remember they need to pay debts and services their loans and other public infrastructural need that will go higher if they allow it slide that low.

I expect the CBN to act further than they did last week anyway taking some steps to reduce the pressure on the Naira.