plaetton:

My friend, the very simple answer is that the FGN, as part of its economic restructuring program, is officially devaluing the Naira by allowing it to free float.
This is a deliberate policy.
When the Naira goes down too fast in a very short period, the same government takes one ad-hoc measure or another to curtail the panic, just for that period. Eventually the devaluation continues. No one knows the Naira's true value at this time, not even the government.
Therefore, no matter what ad-hoc measures taken today, the trajectory of the Naira is pointedly downward for the rest of the year, until it reaches that equilibrium point where supply matches demand.
From the way the entire economy looks, that equilibrium level might just be around N2100/$ .
How soon it will get to that level is everyone's guess.

What if the scarcity is never curtailed? How do we know that the scarcity is no longer an issue?

StarRida:
The only lasting solution is to sack the current CBN governor he gat nothing to offer

Then they will install back elemifewele to come and kuku finished the matter.

anonymous1759:


Most of our problems are man made coupled with greed , some tiny island’s currency is stronger than Naira without exporting much .
Heads needs to roll out for this country to move forward.

All your posts are so senseless.
Maybe they reflect your true nature.
Who are the greedy Nigerians that you're referring to?
The id1ot you voted for has billions of dollars stashed somewhere.
He shared dollars to APC delegates during the primaries and yet you voted for him.
Now u are here defending the useless govt and blaming the citizens who are fighting to survive the harsh economy.

When GEJ was in power u blamed everything on him as the president.
Now, u can't do such again.
Is this not hypocrisy at its peak?

What do u people gain by being so stupid?

You voted for buhari twice and he was a terrible calamity, and u voted bat another APC calamity.
Why can't u take responsibility for ur wrong choices instead of accusing sensible Nigerians of being greedy?

The bitterness and hatred in u guys know no bound.

Tomorrow u will vote for another id1ot and still come online to blame the citizens for the government's failure.
Hide ur ugly face in shame and quit being unreasonable. Shalom.

People who are leaving the country because of worsening economy and insecurity are the ones buying the dollar, making it scarce and the price to rise. If Nigeria was working we won't have mass exodus of Nigerians and businesses leaving the country. Solution is fix the country. But unfortunately, balablue bulaba is an illegitimate president and has nothing to offer.

PrettyIfy7:


All your posts are so senseless.
Maybe they reflect your true nature.
Who are the greedy Nigerians that you're referring to?
The id1ot you voted for has billions of dollars stashed somewhere.
He shared dollars to APC delegates during the primaries and yet you voted for him.
Now u are here defending the useless govt and blaming the citizens who are fighting to survive the harsh economy.

When GEJ was in power u blamed everything on him as the president.
Now, u can't do such again.
Is this not hypocrisy at its peak?

What do u people gain by being so stupid?

You voted for buhari twice and he was a terrible calamity, and u voted bat another APC calamity.
Why can't u take responsibility for ur wrong choices instead of accusing sensible Nigerians of being greedy?

The bitterness and hatred in u guys know no bound.

Tomorrow u will vote for another id1ot and still come online to blame the citizens for the government's failure.
Hide ur ugly face in shame and quit being unreasonable. Shalom.

Dollar was only shared in APC ? You guys are retards , your packaged fraud don’t have dollars in safe heavens under his daughters name ? You guys just speak as if we didn’t see his antics when he was governor.
Elections lost has eaten you deep. Keep on wailing don’t do your part to contribute success to the country and continue to blame others , same thing the leaders do is exactly what the citizens do . The only difference is that most people don’t have the opportunity to be in that position.

anonymous1759:



Dollar was only shared in APC ? You guys are retards , your packaged fraud don’t have dollars in safe heavens under his daughters name ? You guys just speak as if we didn’t see his antics when he was governor.
Elections lost has eaten you deep. Keep on wailing don’t do your part to contribute success to the country and continue to blame others , same thing the leaders do is exactly what the citizens do . The only difference is that most people don’t have the opportunity to be in that position.

In what way or ways have u contributed to the growth of this country?
Just mention one.
As an ordinary man on the street, how will ur contribution make any meaningful impact in Nigeria?
Ur only contribution is to vote and defend thieves and failures and then blame the citizens.

Pls can u tell us how much dollars PO saved in Pandora for his daughter?
Can u also tell us much dollar bat's daughter used to purchase a house in the US?
Can u also tell us the only politician in naija that bullion van entered his compound for election matter?
Out of the 4 major contestants, which of them shared dollars during the primaries?

U f00ls always shout election loss as if the one that won has made any positive change in ur miserable lives.
U called PO a packaged fraud?
Ur bat didn't attend presidential debate just as ur buhari, and to u he is not a packaged fraud.
U talk about PO's antics as a governor?
Someone who made sure that his state is the number 1 in Nigeria in terms of education till today.
Someone who who made sure his state has a very good healthcare system.
Some who made sure that every community in Anambra had at least one motorable tarred road.
Someone who chased away criminals and made upper iweka and the entire Onitsha to become well secured.
Someone who brought many small scale indigenous companies into life in his state and made the existing ones to thrive.
Someone that brokered peace between all the tough politicians in his state and made the state to enjoy so much peace during his tenure.

U live ur life in propaganda and feel that the country will grow with such?

U voted for a mediocre and u expect him to give what he doesn't have?

Now answer these questions in honesty.
Did PO share dollars during the election?
Did bat share dollars during the election?

U always accuse us of wishing our country bad when u guys are actually the ones wishing the country bad by electing crooks into power.

The people u elected are failing woefully and u re shifting the blame to the citizens.

Are u aware that since bat took over from the Fulani failure, federal workers now receive salaries in the first or second week of the upper month?
FG workers are yet to receive January salary till today. Are u aware of that?

U will still blame business men at alaba market for that.

Get a life. U re so delusional and unreasonable.

PrettyIfy7:


In what way or ways have u contributed to the growth of this country?
Just mention one.
As an ordinary man on the street, how will ur contribution make any meaningful impact in Nigeria?
Ur only contribution is to vote and defend thieves and failures and then blame the citizens.

Pls can u tell us how much dollars PO saved in Pandora for his daughter?
Can u also tell us much dollar bat's daughter used to purchase a house in the US?
Can u also tell us the only politician in naija that bullion van entered his compound for election matter?
Out of the 4 major contestants, which of them shared dollars during the primaries?

U f00ls always shout election loss as if the one that won has made any positive change in ur miserable lives.
U called PO a packaged fraud?
Ur bat didn't attend presidential debate just as ur buhari, and to u he is not a packaged fraud.
U talk about PO's antics as a governor?
Someone who made sure that his state is the number 1 in Nigeria in terms of education till today.
Someone who who made sure his state has a very good healthcare system.
Some who made sure that every community in Anambra had at least one motorable tarred road.
Someone who chased away criminals and made upper iweka and the entire Onitsha to become well secured.
Someone who brought many small scale indigenous companies into life in his state and made the existing ones to thrive.
Someone that brokered peace between all the tough politicians in his state and made the state to enjoy so much peace during his tenure.

U live ur life in propaganda and feel that the country will grow with such?

U voted for a mediocre and u expect him to give what he doesn't have?

Now answer these questions in honesty.
Did PO share dollars during the election?
Did bat share dollars during the election?

U always accuse us of wishing our country bad when u guys are actually the ones wishing the country bad by electing crooks into power.

The people u elected are failing woefully and u re shifting the blame to the citizens.

Are u aware that since bat took over from the Fulani failure, federal workers now receive salaries in the first or second week of the upper month?
FG workers are yet to receive January salary till today. Are u aware of that?

U will still blame business men at alaba market for that.

Get a life. U re so delusional and unreasonable.

13 months doctors strike under one man , increased school fees in igbariam, no be only tarred road Obi that couldn’t construct unizik ifite road under his tenure , commissioners quarters was in mess , Aroma conjunction was an eye sore Abeg rest ,

if you want to Sell Obi not to me I was in Anambra when he was a governor that’s why I didn’t buy the OBIDIENTs movement so many things to talk about but you’re still bitter .

Obi was giving LP ticket free of charge someone that just came from a different political party you guys are what you criticize the difference is that you don’t have power yet . Obi will never sell to me .

Mention one Obi’s legacy’s in Anambra that’s still yielding income for the state at this moment? Soludo criticized him you guys roasted him because of that .

It’s only a novice that’ll go into a debate with Obi during the elections when you guys turned social media to caricature, GEJ didn’t attend any presidential debate too but you exalt him . Stay your lane . I’ll rather stay neutral than vote Obi if BAT fails .

You’re just here lying 🤥 about industries Obi brought on board. Which industry please same ones that’s next to nothing?
In the Awka capital during Obi how many companies can figure out in the capital ?
Someone that stock up state funds in the bank he’d shares with rack up the interests for 8 yrs is someone you’re hyping ?

Please mention one industry Obi brought that’s still standing? You can lie to people who didn’t live in Anambra not me ok.

PressMyButton:

In a saner clime, there should be no black market for FX. How do they get dollars that are scarce or difficult to get in the banks?

MY BROTHER I TIRE OOO!! IT IS JUST OPERATING THE WAY BLACK MARKET FOR FUEL OPERATES. I WONDER WHY IT SHOULD EXIST AND BE ACCEPTED AT ALL? JUST ONE OF THE MANY NONSENSICAL THINGS GOING ON IN THIS COUNTRY LIKE 'FEDERAL ALLOCATION'. ABOMINATIONS AND WE ARE EXPECTING PROGRESS

[color=#006600][/color]

anonymous1759:



13 months doctors strike under one man , increased school fees in igbariam, no be only tarred road Obi that couldn’t construct unizik ifite road under his tenure , commissioners quarters was in mess , Aroma conjunction was an eye sore Abeg rest ,

if you want to Sell Obi not to me I was in Anambra when he was a governor that’s why I didn’t buy the OBIDIENTs movement so many things to talk about but you’re still bitter .

Obi was giving LP ticket free of charge someone that just came from a different political party you guys are what you criticize the difference is that you don’t have power yet . Obi will never sell to me .

Mention one Obi’s legacy’s in Anambra that’s still yielding income for the state at this moment? Soludo criticized him you guys roasted him because of that .

It’s only a novice that’ll go into a debate with Obi during the elections when you guys turned social media to caricature, GEJ didn’t attend any presidential debate too but you exalt him . Stay your lane . I’ll rather stay neutral than vote Obi if BAT fails .

You’re just here lying 🤥 about industries Obi brought on board. Which industry please same ones that’s next to nothing?
In the Awka capital during Obi how many companies can figure out in the capital ?
Someone that stock up state funds in the bank he’d shares with rack up the interests for 8 yrs is someone you’re hyping ?

Please mention one industry Obi brought that’s still standing? You can lie to people who didn’t live in Anambra not me ok.

You've spoken very well and intelligent too! Kudos!

Paraman:
Drop your sister phone number or yours, we will link up in VI on monday morning.

But how we will place the bet be the koko, I can't give my 1 naira to anybody I don't know yo hold o

Bro didn't you get my lest post to you? I am waiting for you. We really need to do this.
Hope to hear from you soon.

tctrills:

Bro didn't you get my lest post to you? I am waiting for you. We really need to do this.
Hope to hear from you soon.

Paraman:
Drop your sister phone number or yours, we will link up in VI on monday morning.

But how we will place the bet be the koko, I can't give my 1 naira to anybody I don't know yo hold o

Dollars won't get to 2k before the end of next week Friday.

anonymous1759:



13 months doctors strike under one man , increased school fees in igbariam, no be only tarred road Obi that couldn’t construct unizik ifite road under his tenure , commissioners quarters was in mess , Aroma conjunction was an eye sore Abeg rest ,

if you want to Sell Obi not to me I was in Anambra when he was a governor that’s why I didn’t buy the OBIDIENTs movement so many things to talk about but you’re still bitter .

Obi was giving LP ticket free of charge someone that just came from a different political party you guys are what you criticize the difference is that you don’t have power yet . Obi will never sell to me .

Mention one Obi’s legacy’s in Anambra that’s still yielding income for the state at this moment? Soludo criticized him you guys roasted him because of that .

It’s only a novice that’ll go into a debate with Obi during the elections when you guys turned social media to caricature, GEJ didn’t attend any presidential debate too but you exalt him . Stay your lane . I’ll rather stay neutral than vote Obi if BAT fails .

You’re just here lying 🤥 about industries Obi brought on board. Which industry please same ones that’s next to nothing?
In the Awka capital during Obi how many companies can figure out in the capital ?
Someone that stock up state funds in the bank he’d shares with rack up the interests for 8 yrs is someone you’re hyping ?

Please mention one industry Obi brought that’s still standing? You can lie to people who didn’t live in Anambra not me ok.

Stop the lies. You stayed where in Anambra?
Do u know the whole story of the 13 months strike? Since then, have u heard of doctors going on strike in Anambra? No. Because he settled the issue once and for all. That's governance for you.
He increased igbariam school fees from what to what?
What was LASU's school fees before Tinubu became governor and what was their school fees in 2007 before Tinubu handed over to fashiola?
Have u ever heard that igbariam went on strike? Even during the ASUU strikes when buhari was in power igbariam never went on strike. That's PO's legacy.
He didn't construct unizik ifite road?
Who was the last governor that worked on that road?
Life brewery was brought into life
He brought Sabmiller (producers of grand malt).
So many paint industries, foam industries, pharmaceutical industries, rice mills, etc began operation during his tenure.
All these industries are still very much alive and functional. They keep employing people as well. U can apply if u have no job yet.
I can help u get a job in any one u like.
Maybe you only know of Awka and u think Anambra state ends at Awka.
Can u mention one community in Anambra that PO didn't construct a tarred road for?
U may be one of the bitter y0rubas that schooled at unizik or igbariam.
And I remember PO gave all first class graduates in Anambra state 1 million naira each. Are u aware?
Mention another governor that did that.

Are u aware that before PO became governor of Anambra that nobody moves around freely in Onitsha especially upper iweka once it is 7pm?
He solved that insecurity problem.

Now mention tinubu's legacies in Lagos.
In fact just one.

Paraman:




Dollars won't get to 2k before the end of next week Friday.

Lool calm down. We both know dollars wouldn't get to 2k by Friday but my point is that naira would depreciate further before the end of the month. That was what I clearly stated so if you believe that naira is appreciating then good let's bet but don't set an outrageous figure.

They are sticking plaster to a rotten wound.

tctrills:

Lool calm down. We both know dollars wouldn't get to 2k by Friday but my point is that naira would depreciate further before the end of the month. That was what I clearly stated so if you believe that naira is appreciating then good let's bet but don't set an outrageous figure.

Go through my first comment you quoted on this thread again.

Faiththatworks:
I have been asking this question since last week,and I really need some Intelligent Nigerians to please educate me.
What's causing the downward spiral of the Naira to the Dollar, Can the CBN and the Banks please release the industries where the dollar demand is coming from.
I can say for a fact that NNPCL already told us petrol is no longer subsided,all diesel and Aviation fuel importers have given them selves some sense and have totally reduced their importation because of the Dangote Refinery.
Even Manufactures have reduced importation of essential raw materials,from Drugs to household essentials,everyone is cutting back on importation cos of the high Usd,so what's causing the spike in Demand.
My economic theory is very simple and I hope I get some Intelligent rebuttals,anyone buying Usd this high at 1$ to 1400,will never make a profit on whatever they import.
No right thinking importer will do business at such a ridiculous rate and still expect to make a profit,so who's buying this Usd.
I daresay this spiral is just open ended round tripping,the banks and the bureau are really the ones buying and selling this Usd,they create an artificial supply and demand bogus economy just to milk the Nigerian economy.
EFCC,NSA,ICPC should categorize these people as Economic Terriorist and treat them as such.
God bless Nigeria.

pls when you mention EFCC, NSA etc do you mean the banks' and the bureaux' contracted security syndicate, setup to protect their interests using the full backing of the laws which have also been laid down to back up the blood-curdling nefariety perpetrated by the oligarchic hegemony at the top? Or are you referring to some other Legit crime-fighting authority? Thank you.

Paraman:
Go through my first comment you quoted on this thread again.

I haveand it's clear you were of the opinion that the naira with appreciate and I know it would not. But suggesting 2000 to the dollar by Friday is clearly not being serious.

Paraman:
We will soon start witnessing the positive effects of this policies by the CBN

I guess this was where I challenged you to a bet and below were my very words.

Sir I am ready to bet 500k with you, before the end of this month, Naira will be falling again.
If you are ready, let's do this. You can give the proceeds to charity if 500k is too small for you or we can take it up to 1 million naira. I await your response.


So when you accepted, I felt you had read what I wrote with understanding

If it helps the naira, the should keep offloading.

tctrills:

I guess this was where I challenged you to a bet and below were my very words.

Sir I am ready to bet 500k with you, before the end of this month, Naira will be falling again.
If you are ready, let's do this. You can give the proceeds to charity if 500k is too small for you or we can take it up to 1 million naira. I await your response.


So when you accepted, I felt you had read what I wrote with understanding

I can't wait till the end of the month.

And who will the 200k bet be with? With me?

Paraman:
I can't wait till the end of the month.

And who will the 200k bet be with? With me?

The end of the month is only reasonable. You are about to be 200k richer so be patient.
If you really have confidence in the naira and the CBN, you would want to stake your money on it. But then if your comments were only to be politically correct then I can understand why you may not want to bet.

How about I do 300 pay 200.
So you stake 200k while I stake 300k. I am sure you can say no to this juicy offer