arejibadz:
ok wait till next week ,lets see

I have seen devaluations since the days of Abacha $1-#22 . We all remember the trend and how parallel market reacts.
Next week can never be different because no significant economic changes have occurred, other than subsidy removal.

Teenaira:


What is pushing the rate up in the black market is the large unfulfilled official demand for Dollars. When lots of these official demand are met then the demand at the black market will reduce leading to crash in rates.

I agree with u.
Let's see as things unfold (long term)

BigIyanga:

Everybody body in Naija is an importer or consumer of imported products. This your Chinco phone was imported.
Dangote is our biggest importer.
Banks and Telecoms are big importers.

Make una dey calm abeg.. have u saved for Fuel ans FX increase?.

Fx would only increase from the official rate of 460 to 630. The parallel market would be a bit favoured. Dollar would soon be bought at the rate of 650/660 at the parallel market. We once had this experience some years back when the official rate and the bdc's rate was almost the same. That is what will happen, going forward because everyone, including the bdcs who bid will get fx. Dollar will be available to all but not at the old rate anymore. Its happening already.

Teenaira:


What is pushing the rate up in the black market is the large unfulfilled official demand for Dollars. When lots of these official demand are met then the demand at the black market will reduce leading to crash in rates.

Where will the dollar come from to meet this demand? Remember that the money for subsidy was borrowed.

So we should be expecting to buy dollar at 1500 naira or 1000 naira now. Well done APC

Eriokanmi:
Fx would only increase from the official rate of 460 to 630. The parallel market would be a bit favoured. Dollar would soon be bought at the rate of 650/660 at the parallel market. We once had this experience some years back when the official rate and the bdc's rate was almost the same. That is what will happen, going forward because everyone, including the bdcs who bid will get fx. Dollar will be available to all but not at the old rate anymore. Its happening already.

What you just explained makes sense but it’s a dangerous path. I foresee unintentional consequences. If everyone is able get dollars at the same rate, our local industries would collapse.
Here is the reason. China and India imports are cheaper. Every one will obtain dollars and import, in so doing all locally produced goods would be abandoned.

babyfaceafrica:
What's the name of the importer? All these anonymous dey shady.. Anyways.. In weeks to come, we will know the truth

Keep asking

So apparently daily trust newspapers that broke the story yesterday were right. The CBN should be transparent enough so as not to destroy investors' confidence.

////Osazee

sonature1:
I like it when a news media reports a news story and stands by their words. It shows the organisation is credible and trustworthy.

No direction to the above state

sonature1:
I like it when a news media reports a news story and stands by their words. It shows the organisation is credible and trustworthy.

No. It shows that the particular story in question is not just an hearsay.

sonature1:


Kindly remove smart from your moniker and leave panties.

I thought you wanted to add something useful to the discussion.

No problem my dear, please help me remove it when you have the chance. But you've sha agreed that Vanguard showed integrity by standing by their Peter Obi religious war story abi? No problems!

[color=#000000][/color]

Babalegba:
Peter Obi is a liar and liars cannot be trusted.

Goan trust Balablu jor!

Why is Emefiele still the CBN Governor?

APC is a useless party. Those supporting the party are useless and shady individuals who can never thrive in an environment where there's rules, law and order.

Pipefitter:
It's not a bad thing to devalue but why lying over it?

To avoid panic. Everyone knows it has been devalued since Monday, exactly what tinubu promised to do.

Now if only the media will have sense.

You people thought APC Government under Buhari is deceptive and full of propaganda?!!! You haven't met Tinubu the master of deception and manipulation (his fellow APC members refer to this his shady character as " the great strategist" )

UNA NEVER START! Make una brace up! E go be like that long mouth rat wey dey blow you breeze as e dey chop your toes.

Gaabasky:
We survived endsars, we survived covid, we survived, borders closure, we survived Emefiele's new note scam, we shouldn't lose hope in this fuel subsidy. We are going to survive it as well.

If they like let 1 dollar =10000 naira we go still survive

No we will not. They average man who does not earn in $ is a goner

All of a sudden we have all forgotten about the new naira note. God will punish Emefiele

I was not born a nigerian to keep on surviving all like you mentioned. The question here is HOW LONG SHALL WE CONTINUE TO SURVIVE ABI NA TILL YOU ENTER GRAVE YOU GO WON STOP TO DEY SURVIVE?
GOD BLESS NIGERIA 🇳🇬

Gaabasky:
We survived endsars, we survived covid, we survived, borders closure, we survived Emefiele's new note scam, we shouldn't lose hope in this fuel subsidy. We are going to survive it as well.

If they like let 1 dollar =10000 naira we go still survive

This is the outcome of tinubu and Tony Blair meeting. This is d reason y US president CHOOSE to relate with a drug lord who rigged himself in to become president. It's all for selfish intrest. The west don't care about us.. it's unfortunate that we need them for all to go well. Tinubu is buhari pro max.. any way I don't care anymore let Dem do wat ever dey want. I will never lack..am just feeling for the poor masses

we will have to wait and see who is right.

That's balablublu govt for you.

CBN became useless and a laughing stock during Emefiele's tenure.
Gosh

klismann12:
We re in fro a long run except Peter obi comes on board,the statusquo would continue

These rogues are doing terrible damage on Nigeria. The country has become one of the worst banana republics in the world today.

Consider these damning scenarios happening within one month:

A minister of aviation scammed the country by claiming they've established an airline whereas they only rented one aircraft from Ethiopian airlines and calling for celebrations, they returned the aircraft to the Ethiopians.

INEC conducted the worst election in the world and hired lawyers to defend their fraud. Even going as far as denying their own result sheets.

World newspapers reported that a former drug baron won Nigeria's election.

CBN issuing its rate and denying it completely .

Among other shameful things now happening in Nigeria.

If these bandits remain in government for up to 6 months, Nigeria will become the most disgusting country in the world!

babyfaceafrica:
What's the name of the importer? All these anonymous dey shady.. Anyways.. In weeks to come, we will know the truth

Keep shut since you don't know the truth!!!

Babalegba:
Peter Obi is a liar and liars cannot be trusted.

And yet you're suffering under your truthful messiah.
Nigerians why?

babyfaceafrica:
What's the name of the importer? All these anonymous dey shady.. Anyways.. In weeks to come, we will know the truth

You don’t reveal your insiders like that. If you do people will no longer give your heads up on what’s actually happening on ground.

wonder233:
And the disaster continues... Tinubu, just like Buhari... Same old man who is an ethnic god, who desperately wants to fulfil a lifelong ambition, voted in by 2sets of people: ethnic bigots and religious fanatics.
Those of us who genuinely wanted a change are not many unfortunately. The bigots are much more in numbers, lets be honest.
The bitter truth is that Tinubu ACTUALLY won the elections, the larger part of the southwest voted for him on ethnic loyalty ground, while up north, their clerics told them the muslim-muslim ticket was too juicy to pass up. Atiku had always been regarded as a munafikeen during all the time he romanced the southeast, so APC had all their votes. As for Obi, the muslim northerner would rather die of hunger, banditry than vote "an infidel".
And you can't win Nigeria if you can't take even if its a quarter at least of such a vast demographic as the muslim north. That chasm was too wide, it cost Obi the elections, forget about the riggings here and there in the south, those were to pad up Tinubu's numbers to make the victory gap wider than it actually was.
Lets brace up for the next 8years, anyone that can get out, should.

Well said 👍

Babalegba:
Peter Obi is a liar and liars cannot be trusted.

What lies jas he lied to you before?
Mumulegba 😂😂

This is a welcome development for Traders, atleast we have a unified exchange rate, we go pay less now @636 instead of our black market 755N.Kudos Bat.

baralatie:
🙄🙄

na so the man brought over the Masses - Cashless Naira Policy,up till today,it has gone into limbo!
Anyway,the Masses are waiting for President Tinubu to do the correct thing,for the CBN man is just occupying space.
Very Shameful!