The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the naira has depreciated at the official market to 410 against the dollar.

Emefiele, who spoke at a summit on the economy by Bank CEOs on Friday, said the drop in crude oil earnings and the associated reduction in foreign portfolio inflows significantly affected the supply of foreign exchange into Nigeria.

“In order to adjust for the decrease in supply of foreign exchange, the naira depreciated at the official window from N305/$ to N360/$ and now hovers around N410/$,” he said.

The naira exchanged for 478/$ at the parallel market on Friday.

The Vice President, Prof. Yemi Osibanjo, said the Federal Government would address the shortage of foreign exchange.

“We have accepted that we need to take more dramatic step to boost exports in order to earn foreign exchange,” he said.

Osinbajo said the government would combine limited resources to expand the supply base.

The Federal Government, he added, would ensure the expansion and promotion of export trading houses, ensure that companies in the special economic zones exported most of their productions, as well as expand the export grant scheme.

https://m.punchng.com/Business/Naira-depreciates-to-410/$-at-official-market-Emefiele

I thought banning of Bitcoin would appreciate it to #50


Or una don waste our dollars for bandits

When we finished paying the bandits and printing more Naira it will hit 500 per dollar

Na Crypto dey cause the depreciation yeye people..

At least dollar don suppose equal 1 naira to 1 dollar wetin still dey delay am...

Clueless people in government..

The glorified mumu of a CBN director failed to realizes his failure as Nigeria's currency is still useless to the $.
Yet he banned cryptocurrency.

better so people will stop crowding our cities with tokunbo 2003 Corolla sports

N
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L
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Damnnn niggarrrr
Isoright.....

The way our naira is going down

Bitcoin and Forex trading forever

Don't give a f** about Naira

slawormiir:
Damnnn niggarrrr
Isoright.....

The way our naira is going down

Do Bombers care?

So serious.

CBN governor only nosing about on Endsars and Crypto whilst it neglects its basic function of creating regulatory locomotives to strengthen the naira....SMH
Nigeria has been in this mess since this present crop of political party leadership came on board with so many promises but clueless policies.

I'm less concerned though thank goodness for the internet and little skills that gives me my sumptuous constant residual income ....
Anyway If you are interested in knowing how to earn residual income with existing or newer skills and never lack cash for your livelihood then contact me for the tools needed to be put in place and allow the locomotives generate you money online, offline or both.

Imagine you have the right skill to create 1k clients that you make constant $50 from them each doing small task for them ones or twice a week.!! Awesome right.

Howbeit this ain't for the get rich quickly youths out there.....but if you want to grow wealth then contact me via my facebook on my profile.

Do you know that some people make money from Small skills like sending emails for agricultural companies...... There are so many remote jobs out there for all irrespective of your gender(both for males & females).

I have a lady that earns steadily by just helping some hair making factory reach prospective buyers via her SM handles...she is paid for publication and also get a commission from any successful transaction made weekly.

We Mooove!!!!

Proactivity Leads To Productivity!!!!

@seniorwriter

Buharinomics, ride on sai baba.

Two more years of the "change agenda" still yet to be unveiled

I wonder how those on #30k subscription to keep defending incompetent will do now that their money is losing value. Even the vice president could not defend the recent policy on Cryptocurrencies anymore.

Nigeria may soon depreciate to the level of Somalia at this rate.

Once a giant of Africa has become the dwarf of Africa



How the mighty has fallen

It get higher, we the trader need it to go higher.

Sheby d mumu Emefiele de talk thrash about crypto ni.... I was thinking crypto ban will appreciate naira na, werey sumbodi

Is it surprising?
Not at all. Moreover it can rise and fall at any time. https://spicedessay.com/2021/02/25/how-to-write-facebook-ad-copy-that-converts/#How_to_write_Facebook_ad_copy_that_converts
That's for facebook marketing

MUMU GOVERNMENT SHOULD ALSO BAN FOREX TRADING NA.
Since banning bitcoin(crypto) didnt help the naira

Yahoo boys Dey happy
Big Business men Dey happy
Government workers Dey cry
You get the point now?

Things fall apart!

Obviously, the destination is N500/$1
How long to hit this point is anyone's guess

What's tha business?

So you mean even after banning the whole diaspora sending naira directly to bank accounts and ensuring its purely dollar pickup or direct dollar payments, we still have dollar issues in nigeria? Wonderful!

Heading to 720/$

We are now the Midget of Africa
The Naira keeps Jonzing
Our Naira is on a codeine diet

No wonder Aisha Buhari ran away from Nigeria

Naira don Wash.


THE FUTURE IS CRYPTO...

There is no way the economy will improve when insecurity is the order of the day in Nigeria. Investors are leaving in droves, foreigners are avoiding Nigeria in their business dealings and the best brains are leaving to greener and safer pastures. The future of Nigeria is under siege.

The painful part is, if prices of crude increase today and we are able to sell, the exchange rate will not appreciate. They will rather resume their stealocracy