*CBN blames currency’s plunge on speculators
*Ministry, MDAs conclude meetings on 2016 budget


After a two-day meeting, the Federal Open Market Committee (FOMC) of the US Federal Reserve Bank raised its benchmark interest rate by 25 basis points to 0.25 per cent to 0.50 per cent, a move certain to put more pressure on the naira, which on Wednesday plunged to a new low at the retail segment of the foreign exchange market to N270 to the US dollar.

Speaking on the first rate hike in almost a decade, the US Fed Chairman, Janet Yellen, said that the increase was a vote of confidence in the US economy, but stressed that the pace of interest rate hikes would be gradual.

But whilst US markets may have hailed the decision and saw the Dow Jones, S&P 500 and Nasdaq initially falter, but later rallied to news on the rate hike, the same could not be said of the Nigerian economy and the local currency, which have been hit by dwindling revenue from low oil prices.

Oil revenue accounts for 90 per cent of Nigeria’s foreign exchange and 70 per cent of total revenue.

Low oil prices and forex currency curbs introduced by the Central Bank of Nigeria (CBN) saw the naira fall yesterday to a new low of N270 to the dollar on the unofficial market after the central bank rationed dollar supplies for the third week in a row, traders said.

http://www.thisdaylive.com/articles/us-fed-rate-hike-worsens-naira-situation-falls-to-n270-/228226/ lalasticlala, dominique, Seun

O My God!! Buhari, abeg I know say people dey call you dulla.rd, but abeg, you don't have to prove them right

I'm not surprised

Haa

It's expected sha...

The storm before the still waters...

E go beta

I just hope our president knows the implications of these because most business men that depend on import of their raw materials will suffer

My Neigbour importing digital materials go hear am well

Myself wet dey buy products directly from the states don already to shake....I pray this coming year will prospers us all ...

We say no to hardship in the coming year...

Adesiji77:
http://www.thisdaylive.com/articles/us-fed-rate-hike-worsens-naira-situation-falls-to-n270-/228226/ lalasticlala, dominique, Seun

Endtime currency....no wonder the endtime politicians dey steal plenty plenty dollars

http://www.fusiongists.com/2015/10/simple-ways-to-get-rid-of-pimple.html?m=0#sthash.qyhxjv2o.dpuf

Nigerian blogger wey get adsense go be like.. make december 22 reach ooooooooooo



Omo see money

Buhari is working

I will make N1=$1 this is shange!

...

This one na free fall ooo of the Naira ..may God save Nigeria....I still dey wait for uncle bubu ooo

Akpos jumps from bed and starts shouting "God save me, save me, save me. The wife asked, did you have a nightmare? He says yes. The wife asked ask again, were you been chased by a lion? Akpos replied; lion is even better. I nearly voted for Buhari again‎

SW wanted change ... Change they got !!

It's jonathan's fault! It's the fault of the past administration. Although I can't yet figure out how jona caused it but am sure A.P.C supporters will manage to link it to him some how

Terrible shii.
How i go pay my canada school fees now?

day

GEJ really punished APC it will take buhari 16 years to recover lot and take Nigeria to the promised land. passing shot.
In another news Dokpesi eat white yam unknowingly and was locked, Buhari eat porridge yam unknowingly, who will try buhari. DSS NA JOKE O.

Buhari wan kill us oo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
.
.
Wat an INCONJOBOGOS! KILOFA NONSENSE CHANGE

Thanks to Jonathan and Dasuki



When Oil Prices were at 120 USD per barrel, Jonathan & Pay-Pay in collaboration with Dasuki, Jim Nwobodo, Bafarawa, Odili and cohorts were busy sharing our money like 'WHOT'.

Now wey Oil Price na 32 USD per Barrel, wetin una expect.




I believe that BUHARI is a right man for Nigeria now, but it seems like we waited 6 years too late to elect him.


Just imagine if Jonathan had won the last election, Dasuki and co would be chilling somewhere enjoying their loot and even planning on looting more and we Nigerians would have been ignorant and oblivious to it.



#GodPunishPDP..

End time signs!!!

Goodnews

david22uu:
day

Lemon12:

vicostyles:

h

elvisdaniels:
nn

space bookers association

MAKE I WAIT TILL DALLAS REACH #500 BEFORE I BLAME Buhari

blame gej for this

When I ask for Buhari's Certificate you APC guys will be crying. I really want to know what he got in Economics. Buhari is a certified dullard.

endtimesblog:



Nigerian blogger wey get adsense go be like.. make december 22 reach ooooooooooo



Omo see money

False. I don't know how Adsense users in Nigeria receive their funds, but it will be remitted to them at the official rate of N199.05.

God save Nigeria!

Aboki, me I no understand this Change! Again

It's the work of PDP'igs....... The clueless one and Co make sure that they destroy this country b4 handling over by distributing foreign currency b4 the election..... #Dasukigate

#Gejgate

david22uu:


space bookers association

Naija, which way na??....