By Febuary ending into March, there was gradual uptick/increase in value of naira against the dollar, however opposition, majorly Obidients. Without any proofs, they were once claiming that CBN was borrowing to defend the naira, they said when the loan is exhausted, the naira would resume its free fall. However, the naira keeps gaining strength against their expectation.
As naira keeps raising, they came up with another propaganda of CBN using the reserves to defend the naira. Still, there's no proofs to back their claims, they are confused whether to stick with the "borrowing propaganda" or the "reserves propaganda".
They are shocked how Cardoso was able to clear $7billion backlog, pay foreign loans, issued treasury bills to raise the reserves which helped to pay 4trillion out of 22trillion ways and means within a short time. They're shocked how he raised interest rate and it attracted foreign investors to bring money into the market. They're shocked how Naira became the BEST PERFORMING CURRENCY in 3months!

Payment of backlogs, loans, etc are the financial obligations Cardoso was referring to and he said $600million came into the reserves as at yesterday.

They also said naira would fall after Easter and Eid celebration yet naira keeps getting stronger against their expectations. Huge confusion in their camp. We await their next propaganda.

helinues:

That's the point, if CBN is defending naira against dollar, how about the Pounds that's falling too, is he also defending against Pounds and Canadian dollar?

PressMyButton:

That's the point, if CBN is defending naira against dollar, how about the Pounds that's falling too, is he also defending against Pounds and Canadian dollar?

Those people are not interested in any explanation as they only react to positive news about Nigeria with fixated mindset.

Dem go wake up for morning say make God bless them, but come online to wish their own country evil even for the fact that they reside inside same country. How can you be blessed from the same economy you already wished to crumble.

In Apostle Sule's voice , some of them are evil

ok

They say the election loss was more painful than the civil war. May God Bless Nigeria.

-kiss the truth!

helinues:


Those people are not interested in any explanation as they only react to positive news about Nigeria with fixated mindset.

Dem go wake up for morning say make God bless them, but come online to wish their own country evil even for the fact that they reside inside same country. How can you be blessed from the same economy you already wished to crumble.

In Apostle Sule's voice , some of them are evil

Very very very evil people, their narratives and jubilation when naira was sliding was evident. They opened several threads on naira depreciation on a daily basis but now, they have swollen hands that they can't open threads on the Naira anymore. What they do now is try and downplay the gains we are achieving.

TimeManager:
They say the election loss was more painful than the civil war. May God Bless Nigeria.

-kiss the truth!

This is deep!. They want everything to burn, God pass them.

PressMyButton:

Very very very evil people, their narratives and jubilation when naira was sliding was evident. They opened several threads on naira depreciation on a daily basis but now, they have swollen hands that they can't open threads on the Naira anymore. What they do now is try and downplay the gains we are achieving.

The obidients that were always creating threads everyday about how the naira was losing value, have they suddenly leave nairaland? Because they are no where to be found again

Naira shld pls go back to #165/$ dat the devilish APC met it b4 we start discussing any rubbish u want to bring to dis fora!

Let it get to #700 first then on to #165 b4 I can say dey tried small.

Paraman:
The obidients that were always creating threads everyday about how the naira was losing value, have they suddenly leave nairaland? Because they are no where to be found again

Everyday they were giving us updates and telling themselves to keep their dollars. I don't know why they are no more giving updates since last two months. Maybe the subsea cables that was cut have not restored their network connection.

MichaelSokoto:
Naira shld pls go back to #165/$ dat the devilish APC met it b4 we start discussing any rubbish u want to bring to dis fora!

Let it get to #700 first then on to #165 b4 I can say dey tried small.

Why do you want to get it to 700?, what happened to your initial 2000?. Keep throwing stones at the market, remember that your mama dey inside the market.

PressMyButton:
By Febuary ending into March, there was gradual uptick/increase in value of naira against the dollar, however opposition, majorly Obidients. Without any proofs, they were once claiming that CBN was borrowing to defend the naira, they said when the loan is exhausted, the naira would resume its free fall. However, the naira keeps gaining strength against their expectation.
As naira keeps raising, they came up with another propaganda of CBN using the reserves to defend the naira. Still, there's no proofs to back their claims, they are confused whether to stick with the "borrowing propaganda" or the "reserves propaganda".
They are shocked how Cardoso was able to clear $7billion backlog, pay foreign loans, issued treasury bills to raise the reserves which helped to pay 4trillion out of 22trillion ways and means within a short time. They're shocked how he raised interest rate and it attracted foreign investors to bring money into the market. They're shocked how Naira became the BEST PERFORMING CURRENCY in 3months!

Naira is not appreciating. Naira has and is always a weak currency.

As things stand, the naira is still weak. Until we become a exporter of goods we manufacture, naira go still remain WEAK.

Let's not lie to ourselves.

Infact this is just a miracle, kudos to Cardoso

nairalanda1:


Naira is not appreciating. Naira has and is always a weak currency.

As things stand, the naira is still weak. Until we become a exporter of goods we manufacture, naira go still remain WEAK.

Let's not lie to ourselves.

The best performing currency in the world is weak?, drop the weed. As long as reserves keep raising, naira can not be weak. We earn from crude oil and agricultural imports and more exports will strengthen it further, also less dollar demands with Dangote and Local refineries will do a lot good to the naira.

Lol, this comment just concluded you dont jave any knowledege about what youa re saying at all

PressMyButton:

That's the point, if CBN is defending naira against dollar, how about the Pounds that's falling too, is he also defending against Pounds and Canadian dollar?

PressMyButton:

The best performing currency in the world is weak?, drop the weak. As long as reserves keep raising, naira can not be weak. We earn from crude oil and agricultural imports and more exports will strengthen it further, also less dollar demands with Dangote and Local refineries will do a lot good to the naira.

It is weak.

I mean, just because last year some child scored 40% in Maths, and this year he scores 70%, that's a lot of improvement, but he is still way behind the kids who get 90-100% in the same subject consistently.

You guys, you should tell your government to make the hard decisions to make our economy diversifed and dependent on manufacturing. Not be labelling everyone who contradicts you obident. Our currency has been weak from day 1 because it is dependent on oil prices, not on how much we produce.

It always annoys me that since 1999, none of our parties have had production on the agenda. Maybe because it means some hardship along the way.

I don't understand how some people just choose to be a prophet of doom fighting against their own very country

These last couple of week has been filled with some good news, much to the unhappiness of some people and so much to my own happiness

A prosperous Nigeria is what I want

Confusion to the enemies of Nigeria

Those who are bound to fail and would have failed if they got power

Those who would keep Emefiele and have no balls to rule

PressMyButton:

Why do you want to get it to 700?, what happened to your initial 2000?. Keep throwing stones at the market, remember that your mama dey inside the market.

1st thing 1st, I was never part of those wishing my dear naira to fall to #2000

2nd, do u knw how badly their useless devilish monetary policy has affected my business?
u think say I dey laff say APC dey f**k d whole con3 up?

3rd, I have bn praying fervently for emilokan to at least take d con3 back to where he took over from Bubu fes b4 making attempts to perform his abracadabra Lagos magic!

Make all of una dey take time 4 dis Nairaland oo!

nairalanda1:


It is weak.

I mean, just because last year some child scored 40% in Maths, and this year he scores 70%, that's a lot of improvement, but he is still way behind the kids who get 90-100% in the same subject consistently.

You guys, you should tell your government to make the hard decisions to make our economy diversifed and dependent on manufacturing. Not be labelling everyone who contradicts you obident. Our currency has been weak from day 1 because it is dependent on oil prices, not on how much we produce.

It always annoys me that since 1999, none of our parties have had production on the agenda. Maybe because it means some hardship along the way.

Your analogy is misplaced and irrelevant. A student that scored 70% is within the distinction bracket with students that scored 90%. Next time try and understand the meaning of "weak" before using it.

Naira was almost 2k under your nose, they you should be praised for taking it back to 1160 when yoiu met it at 216 and 700 respectfully?

I really dont know what happens to peoples brains when they join APC

Paraman:
The obidients that were always creating threads everyday about how the naira was losing value, have they suddenly leave nairaland? Because they are no where to be found again

MichaelSokoto:

1st thing 1st, I was never part of those wishing my dear naira to fall to #2000

2nd, do u knw how badly their useless devilish monetary policy has affected my business?
u think say I dey laff say APC dey f**k d whole con3 up?

3rd, I have bn praying fervently for emilokan to at least take d con3 back to where he took over from Bubu fes b4 making attempts to perform his abracadabra Lagos magic!

Make all of una dey take time 4 dis Nairaland oo!

You can't hide it, it is very difficult to hide bitterness.

There is still hope for this country. It may be long, but we shall get there.

Thread of zombies by zombies for zombies

Damnnn

This no really concern me o, as long as XAUUSD and AUDJPY dey give me pips on a weekly basis, i am okay.

Also, make UBA and MTN shares continue to dey give me funds too, i am satisfied with that.

If $$ like, make e fall reach N250

MichaelSokoto:
Naira shld pls go back to #165/$ dat the devilish APC met it b4 we start discussing any rubbish u want to bring to dis fora!

Let it get to #700 first then on to #165 b4 I can say dey tried small.

Uninformed comment.

The naira at $700 was being defended by $1.5bn per month. Which is more expensive?

For the first time since 1978, market forces are determining the value of the naira. Over 12 CBN banking policy amendments were done to get us here plus reduction in number of BDC from over 5000 to 1500.

Every word you speak, every thought, has a tangible impact on Nigeria.

Every impact on Nigeria is an impact on you.

Help yourself.

Speak and Think ONLY of the best for Nigeria.

Criticize constructively. Let love lead.

Infact this is just a miracle, kudos to Cardoso

Clowns