The Association of Bureau De Change Operators of Nigeria
(ABCON) said the Bureau De Change (BDC) operators were
buying dollars at N980/$ at the open market and selling at
N1,020/$.

This was confirmed by the President of ABCON, Aminu
Gwadebe, while featuring on a Channels Television
programme, Business Incorporated, where he stated that
the naira has appreciated faster than expected against the
United States Dollar.

Gwadebe applauded the government and the Central Bank
of Nigeria for its efforts so far, saying it’s the first time in
the last 15 years that the exchange rate for the dollar in the
parallel market is less than that at the official window.

He acknowledged that there is now calmness in the market
as speculation which has been one of the major
destabilisation factors is no longer there.

Gwadebe said: “Our quote rate we buy at N980 and we sell
at N1,020 as at now.

‘’There is a lot of confidence, we have seen how the central
bank treasury bills have been oversubscribed and we have
seen how they have also corrected the flows of diaspora
remittances. Now we are having a chunk of diaspora
remittances coming in because of the so many policies of
the central bank that tried to calibrate how the inflows
should be coming in even though there is a lot of gaps that
is not coming that is still externalised in the diaspora
window.’’

https://dailytrust.com/bdcs-now-buying-dollar-at-n980-abcon-president/

Good development with BABA TINUBU 1$ to N150 is possible soon

What's the balance of FX reserve?

Propaganda

tinubu and his 40 thieves are finishing our reserves by looting it all

Nigeria is progressing, enemies are wailing.
God Bless President Bola Ahmed Tinubu.
God Bless Nigeria.

ManirBK:
Good development with BABA TINUBU 1$ to N150 is possible soon

yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

This our FX e no go finish so?... Anyway make I go baff first

Cbn should rush and adjust as well..

Whether Peter obi or tinubu please put the country first..

The enemies of this country are not loving this news and they are struggling to come up with propaganda to see how they can silence people from the victory that is all over the atmosphere

Address

Good news

We wait for it to go back to 700 as it was before tilibu took over and 216 when APC as campaigning against PDP

When that is achieved then I can support APC fully

Dollar added N130 today

is trading at 1190 today on the black market

yesterday it was N1060

Not bad.

I65 or nothing.

We are getting there. Keep going Naira

H

N

temptnow:
tinubu and his 40 thieves are finishing our reserves by looting it all

I know that this propaganda is what many of you have been promoting on social media. Despite the CBN Governor saying that he is not defending the naira, you chose to propagate the lie that the reserves are being depleted to defend the naira.

What is this lie meant to accomplish?

Let us even assume the reserves are being depleted. Are there no inflows into the country's accounts? Do you realize that funds which ought to be used to pay a few fat pigs subsidies are now available for other things like clearing legitimate fx backlogs? Are you also aware that foreign remittances alone can help cushion most of Nigeria’s monthly fx obligations? Do you know that not paying out fx directly to beneficiaries of foreign remittances keeps the funds out of the system and be channeled into other things?

Are you remotely aware that $2.3billion came into Nigeria through foreign remittances in February alone?
https://www.reuters.com/markets/currencies/nigeria-sees-surge-forex-inflow-overseas-remittances-rise-2024-03-08/

Do you even know that Nigeria earns money from exports, imports through duties, royalties, mining and even other FDIs?

Many of you need to curb your hatred for Nigeria. You wish the worst upon Nigeria to justify your ego for not voting the person who defeated your candidate. People with such mindsets are evil and should not he in decent company.

For the first time, I am seeing people who understand the economy taking measures to help our country.

But one final truth must be said: some of you would rather die than see Nigeria develop. But guess what: Nigeria shall rise and work for everyone. Anyone who does not wish such until their candidate wins: may their evil wishes NEVER come to pass upon this nation.

4sale

Propaganda

Naira has never been a strong currency

Think about it. All the main reserve currencies have one thing in common...the countries they come from are major industrial exporters, or have a solid industrial base. (Euro, Dollar, Pound, Yen, Yuan).

No oil producer's currency is a reserve currency because the strength of the currency is based on how much forex they can make from oil. Once the oil price crashes, so goes the currency.

Saudi may appear to have a strong currency, but that is because they got billions of dollars to buffer it. If oil becomes useless tomorrow, wahala dey.

If we want a strong currency, no be this APC thing of draining our reserve to buffer naira...same trick PDP Used to decieve us back in the day. It is, as Obi has said, as Moghalu has said, as even SLS has hinted at....becoming an exporter of industrial products.

Make we dey stop decieving ourselves.

What is the fate of those that invested in the dollar at N1,600?

Check my signature

eddychukwu:
What is the fate of those that invested in the dollar at N1,600?

Check my signature

.

TINUBUNOMICS.

We are matching forward, hatred and anger filled developers can continue buying their own Dollars at 5,000 Naira that their fake Pastors prophesied.

If so, then why is USDT so high on OKX? I hope it's not the usual Nigerian criminality that is in play here.

sweerychick:
yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

You are not wrong my guy,please keep your dollar close to your chest

You will sell it when it reach 10000

Good development

Don't price in place, the bag of rice bought for 78 in February is now 52k as at yesterday where I bought in February, papanlato ewekoro in ogun state. Likewise groundnut oil and some others things are coming down.

SpecialAdviser:
Why are the prices of goods still high?
The big question of ordinary Nigerians.

CodeTemplar:
What's the balance of FX reserve?

Go and use that to carry white Olosho.

FOREX Reserve when the citizens are hungry. You think say this na Obasanjo that paid loans that were in the first instance shared into the private accounts of politicians? This is TINUBUNOMICS, go hard or go home

sweerychick:
yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

E go shock you and u go cry.

Continue keeping ur dollars

sweerychick:
yes oo when our FX runs dry.. Tinubu is subsidizing dollars . I remember what Aisha said, KEEP YOUR DOLLARS OOO. by next year it would hit 5K. I hope im wrong oo

Una go cry tire.

You can continue buying own own Dollars at 5,000 Naira that your fake Pastors prophesied.