We heard a lot during past government yet nothing came out of it,Nigeria needs practical solutions,most politicians have dollars at home,Aboki is never the problem.Efcc should raid the home of some past government .
What is happening to the naira currently also happened to the 'Brazilian Real' in 1999 under Cardoso (surprisingly the Nigerian CBN governor is also Cardoso) when they floated their currency 'Real', it plummeted from 1.20 to 2.15 to the dollar. The policy makers in Nigeria cannot claim ignorance that they did not know this was going to happen by floating the naira. May be they can learn one or two things from the Brazilian situation and how they turned things around.
In Nigeria the main reason for floating the currency in a mono export economy without adequate checks and preparation was mainly to give the three tiers of govt more money to spend s borrowing and sharing was not practical.........
Raid on BDC , using NCC to disturb trading on cryptocurrency etc.......and tomorrow you want dollar inflows from investors.......this road has been passed before by previous administrations with little or no effect.......its like blackmailing a trader to sell goods at a fixed......price........it smachs of frustration and lack of ideas on how to solve the problems .....it will definitely back fire and make matters worse
Please stop unnecessary emotions. Hoarding of currency or any product intentionally to take a profit advantage of the citizens is criminal acts on developed countries. Because you have money or capacity to Hoard will put hardship on common masses that needed the money for single survival. You can't even try such in here. You guys want Nigerians to great but still support the rich people who use their greed to make life difficult for the masses.
Most of the so called speculators are within the govt...circles...speculators and traders can dump the dollars or naira at any time it depends on the market...diections and percieved risks.....the govt should... enact policies that encourage holding and savings in naira instead of other instruments
We are currently where we are due to economist like this! You can't find BDCs in USA 🇺🇸 or UK. BDCs are the major cause of round tripping which has led to pressure on the naira. All criminals like the governors and public office holders patronise the BDCs. They don't care to buy the dollar at 3k because its stollen monies. Close down all BDCs let everyone patronise the banks for their FX, that way the cost of the dollar or any other currency can be regulated. Yeye economist! BDCs are avenues for cleaning stollen monies!
Why? is there any possible reason why Naira is sliding except the manipulation of BDCs and their cronies? I will advocate for the immediate suspension of all BDC licenses, let us try that one and see
Honestly, that's not the solution. The government knows what the problem is, they purposely decide to deceive us. Watch what the rate will be in a couple of days
That won't work. It would make dollar even more scarce, which will increase its price. Remember, banks are reluctant to sell dollars. The government needs to make the naira or naira-based assets attractive to invest in. Increase interest rates to like 15 or 20%, people would then buy government bonds in naira which will reduce the supply of naira and strengthen the value of the naira. People will save their naira in some high interest savings account because they would see higher returns. Price of goods will drop in the market as nobody will be interested in spending their money. They can't increase the supply of the dollar as Nigeria is not attractive for foreign investors to invest in.
Open the border and let us go to the neighbour's country nd widen supply and reduce demand on the dollar .... at the border we do not need dollar haba who has be switched us , allow other things to come since u want to eat rice , Bismack stop this nonsense
We heard a lot during past government yet nothing came out of it,Nigeria needs practical solutions,most politicians have dollars at home,Aboki is never the problem.Efcc should raid the home of some past government .
What is happening to the naira currently also happened to the 'Brazilian Real' in 1999 under Cardoso (surprisingly the Nigerian CBN governor is also Cardoso) when they floated their currency 'Real', it plummeted from 1.20 to 2.15 to the dollar. The policy makers in Nigeria cannot claim ignorance that they did not know this was going to happen by floating the naira. May be they can learn one or two things from the Brazilian situation and how they turned things around.
In Nigeria the main reason for floating the currency in a mono export economy without adequate checks and preparation was mainly to give the three tiers of govt more money to spend s borrowing and sharing was not practical.........
The governor are the ones with all the dollars, go to them and their wharehouses
Raid on BDC , using NCC to disturb trading on cryptocurrency etc.......and tomorrow you want dollar inflows from investors.......this road has been passed before by previous administrations with little or no effect.......its like blackmailing a trader to sell goods at a fixed......price........it smachs of frustration and lack of ideas on how to solve the problems .....it will definitely back fire and make matters worse
Please stop unnecessary emotions. Hoarding of currency or any product intentionally to take a profit advantage of the citizens is criminal acts on developed countries. Because you have money or capacity to Hoard will put hardship on common masses that needed the money for single survival. You can't even try such in here. You guys want Nigerians to great but still support the rich people who use their greed to make life difficult for the masses.
Nigerian politicians ....fix corruption!!!!! That's the problem of this country
Most of the so called speculators are within the govt...circles...speculators and traders can dump the dollars or naira at any time it depends on the market...diections and percieved risks.....the govt should... enact policies that encourage holding and savings in naira instead of other instruments
To stop hoarding is the only immediate solution
Big big grammar, hunger de ground,
You said that last time.. Now how de suffer dey go?
If u dey nija suffer full ground, I don Japa just dey show empathy
reason why should be able to think better, as food should be of no concern@@ogumka1976
We are currently where we are due to economist like this! You can't find BDCs in USA 🇺🇸 or UK. BDCs are the major cause of round tripping which has led to pressure on the naira. All criminals like the governors and public office holders patronise the BDCs. They don't care to buy the dollar at 3k because its stollen monies. Close down all BDCs let everyone patronise the banks for their FX, that way the cost of the dollar or any other currency can be regulated. Yeye economist!
BDCs are avenues for cleaning stollen monies!
Why? is there any possible reason why Naira is sliding except the manipulation of BDCs and their cronies? I will advocate for the immediate suspension of all BDC licenses, let us try that one and see
Honestly, that's not the solution. The government knows what the problem is, they purposely decide to deceive us. Watch what the rate will be in a couple of days
😂😂😂. It's obvious you literally understand nothing about economics. If this happens 1 dollar will be like 3k before end of the year.
@@mslplay8592 Thank you. People don't understand economics.
That won't work. It would make dollar even more scarce, which will increase its price. Remember, banks are reluctant to sell dollars. The government needs to make the naira or naira-based assets attractive to invest in. Increase interest rates to like 15 or 20%, people would then buy government bonds in naira which will reduce the supply of naira and strengthen the value of the naira. People will save their naira in some high interest savings account because they would see higher returns. Price of goods will drop in the market as nobody will be interested in spending their money. They can't increase the supply of the dollar as Nigeria is not attractive for foreign investors to invest in.
Open the border and let us go to the neighbour's country nd widen supply and reduce demand on the dollar .... at the border we do not need dollar haba who has be switched us , allow other things to come since u want to eat rice , Bismack stop this nonsense
You were in the Buhari economic team. What hindered you from doing well ?
Stop hoarding to create artificial scarcity
Bismarck Rewane and his friends are owners of the BDC distorting the naira. Oloshi