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Nairaland Forum / Nairaland / General / Business / CBN Officially Devalues Naira (57710 Views)
Has CBN Officially Reduced Interbank Transfer Charges? / CBN Unoficially Devalues Naira / CBN Officially Bans Foreign Currency Cash Deposits In Nigeria (2) (3) (4)
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Re: CBN Officially Devalues Naira by Nobody: 6:41pm On Feb 25, 2015 |
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Re: CBN Officially Devalues Naira by murtalaa(m): 6:41pm On Feb 25, 2015 |
It is very sad indeed. Jonathan's government has taken Nigeria to cleaners. Among OPEC countries, Only war ravaged Iraqi and Iranian (for polical reasons) currencies are more worthless than our currency. 2 Likes |
Re: CBN Officially Devalues Naira by AdeniyiA(m): 6:41pm On Feb 25, 2015 |
berem: Here2BustnScrew:you've already got your N10 change from fuel |
Re: CBN Officially Devalues Naira by Nobody: 6:43pm On Feb 25, 2015 |
kaboninc: Bros you seem to have the inside info..... can you kindly drop us the official price it is pegged at. thank you |
Re: CBN Officially Devalues Naira by investnotspend: 6:44pm On Feb 25, 2015 |
aguiyi: I laugh you , you know nothing go to the port and see for yourself and stop saying rubbish that is been sold to you dummy 2 Likes |
Re: CBN Officially Devalues Naira by visalo: 6:45pm On Feb 25, 2015 |
Ephemmm: I know you're saying the opposite. Your Buhari cannot rule Nigeria. It easy for you to go to space than any one to unseat an incumbent president in Nigeria |
Re: CBN Officially Devalues Naira by b03liberty(m): 6:47pm On Feb 25, 2015 |
[quote author=tonytony208 post=31072280] did you learn about the word "inflation" from economics or you heard it from a beer parlour? Inflation is when demand is higher than supply and too much money is chasing very few goods. With naira devaluation, demand for foreign goods will reduce due to increase in their prices. and people will opt for the local alternatives and this will boost local production more and will promote exportation and more foreign currency will flow into Nigeria and Nigeria's economy will be better for it. So, how does inflation come in?[/quote/]. wetin you dey produce bro wey u dey discourage importation Let your development focus on reality not graphical or chart representation. And since 4 yrs wey subsidy been don remove, wetin be the impact? Mtchewe! 1 Like |
Re: CBN Officially Devalues Naira by oloworulz(m): 6:52pm On Feb 25, 2015 |
aguiyi:guy u re talking nonsense. Are u sure u are educated. Just accept u dnt knw anytin and let me enligten u more if u re ready to learn. Let ur response b i accept. Then i wil brighten ur knowledge |
Re: CBN Officially Devalues Naira by dan55: 6:52pm On Feb 25, 2015 |
kaboninc:it cant stop anything. My friend in the business now buys and sells at 217 that is 18 naira gain 1 Like |
Re: CBN Officially Devalues Naira by michealewela: 6:53pm On Feb 25, 2015 |
kaboninc:i think it affect us directly, maybe you don't stay in Nigeria that's the reason you don't know the effects,, a common tecno phone that was selling for 12k 3months ago has gone upto 15k and if you care to ask the sellers the only reason they will give is "the naira has fallen against the dollar" 2 Likes |
Re: CBN Officially Devalues Naira by jimmayoy: 6:54pm On Feb 25, 2015 |
aguiyi: Mr analyst,you re a big disgrace,anyway keep deceiving urself and the few GEJ till 2099 people.goat. 1 Like |
Re: CBN Officially Devalues Naira by ernieboy(m): 6:57pm On Feb 25, 2015 |
aguiyi:men guy you are really dumb. I can bet right now that the shirt on u is imported, you have the nerve to ask what we import, 1. Let start with fuel. Diesel, kero 2, we dont import much cars? Where did u get that from? Most of our so calles car manf are just glorified assembly plants 3, most businesses depend on diesel to run gen and diesel is imported 4 most businesses and the few factories import spare parts and input 2 Likes |
Re: CBN Officially Devalues Naira by b03liberty(m): 6:59pm On Feb 25, 2015 |
Such an unfortunate prizes we paying for having this kind of govt. And some people here allow their motives to shape how they see the situation rather than careful thought. smh. Why not the development focused on reality rather than in graph or chart |
Re: CBN Officially Devalues Naira by phorget(m): 7:00pm On Feb 25, 2015 |
Slynonny:dollar was never #199 before uncle Jona's era... Jona is actually "working". |
Re: CBN Officially Devalues Naira by kaboninc(m): 7:05pm On Feb 25, 2015 |
ARES: Aresa! If you had read my post, the very post you quoted, you would have noticed where I said that there's no 'official' exchange rate. |
Re: CBN Officially Devalues Naira by Tmercy(m): 7:05pm On Feb 25, 2015 |
Slynonny: |
Re: CBN Officially Devalues Naira by kaboninc(m): 7:06pm On Feb 25, 2015 |
dan55: In the first place, did you even read what I wrote? |
Re: CBN Officially Devalues Naira by blackandbold: 7:10pm On Feb 25, 2015 |
lol.at this rate..one day federal government may declare one day that nigeria has been sold out..or let put it this way.."nigeria has been privatized" 1 Like |
Re: CBN Officially Devalues Naira by 989900: 7:11pm On Feb 25, 2015 |
tinkinjow: I'm yet to hear anyone say anything reasonable against the above. The only counter-explanations you get are, persnickety theories straight out of NOI and Sanusi's textbook economics. |
Re: CBN Officially Devalues Naira by Nobody: 7:14pm On Feb 25, 2015 |
Bloodydemon:thank me later. |
Re: CBN Officially Devalues Naira by Nobody: 7:15pm On Feb 25, 2015 |
Let me add to the achievement of GEJ 10. Devaluation of Naira Mr. President keep doing it. |
Re: CBN Officially Devalues Naira by sexybol(m): 7:17pm On Feb 25, 2015 |
aguiyi:. NA WA FOR YOUR OWN ECONOMICS BROS! SEE REASONING. FOR YOUR MIND U DON ANALYSE DOLLAR VS NAIRA! READ NEWS WELL BROS. EVRYTHING NO BE POLITICS |
Re: CBN Officially Devalues Naira by yungzeed(m): 7:24pm On Feb 25, 2015 |
[quote author=TharyeS post=31064933][/quote] wetin u dey talk na.... Whc kyn shit b dis even if naira turn 1000 mumu talk...mtcheeew..... |
Re: CBN Officially Devalues Naira by kaboninc(m): 7:26pm On Feb 25, 2015 |
michealewela: Sometimes people react negatively to market forces. The CBN is trying to stabilise the naira not that the naira is actually 'loosing' its value. There are so many things at place here. So many fictitious requests, speculative trades, round tripping, etc We actually import a lot of things into the country but take a look at this. A phone that sells for 12k, now sells for 15k and that's 3k difference. That's about 25% increase. Question is what's the cost of production of that phone? including importation cost? Generally industries are propelled by energy and the source of most of the world's energy comes from petrochemicals. Tecno is from China. China is a MAJOR importer of crude oil. These phones are transported through ships or airplanes which are also propelled by petroleum derivatives. Now what's the price of crude today? That should reflect in a way the price of products too. Today's exchange rate greatly favours export oriented business such as our crude. There are other factors that greatly influence the effect of the exchange rate in our local economy but most people due to their ignorance just want to exploit us. And that's why the government is pushing for diversification of the economy and this will greatly reduce the demand for dollar or pressure on the naira. 4 Likes |
Re: CBN Officially Devalues Naira by kaboninc(m): 7:30pm On Feb 25, 2015 |
989900: It appears two of you know NOTHING about ORDINARY demand and supply. |
Re: CBN Officially Devalues Naira by Bizibi(m): 7:38pm On Feb 25, 2015 |
kaboninc:on nairaland,the more you educate them,the more they display their ignorance....I pray this mentality from people on nairaland is not more than 60% of Nigeria's population 2 Likes |
Re: CBN Officially Devalues Naira by kaboninc(m): 7:40pm On Feb 25, 2015 |
blackandbold: Don't liberate yourself from the shackles of ST.UPIDITY and IGNORANCE! Continue wallowing in it. Imagine. Later you'll call yourself a literate abi? 2 Likes |
Re: CBN Officially Devalues Naira by Bloodydemon: 7:40pm On Feb 25, 2015 |
Emmeritus: Buhari is a certified terrorist Apc Is bokoharam Tinubu is a bastard Osibanjo is a vagabond Elrufai is a midget Obasanjo is a monkey Lier Muhammed is charlatan Amaechi is a thief Oshiomole is a scallywag Kwankwanso is a cow Ambode is a clown Aregbesola is a nincompoops Fashola is a hooligan Oyegun is vulture Delemomodu is pig Igbokwe is a goat Gej till 2019 |
Re: CBN Officially Devalues Naira by kaboninc(m): 7:42pm On Feb 25, 2015 |
Bizibi: I won't be surprise if they were more than 60%. Very appalling! |
Re: CBN Officially Devalues Naira by edoboy74(m): 7:46pm On Feb 25, 2015 |
They are rubbish to your ear because you my friend is rubbish. What is your business if N200 is to a dollar? What do you as a person do with the dollar? What's is your interest? And how does it affect you as a person that a dollar cost 200 naira? Let me see your 'layman' reasoning! You are a fool sorry to say... I was offered admission abroad and I couldn't meet up with the tuition fee because of this stupid devaluation of naira, if it where be the way it was then I sure should be having a more guarantee and modern education by now. Mhen!!! Just shot up |
Re: CBN Officially Devalues Naira by OLUJAY4REAL: 7:47pm On Feb 25, 2015 |
diluminati: |
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