NewStats: 3,259,174 , 8,169,299 topics. Date: Saturday, 24 May 2025 at 06:31 AM 3i3ju

PressMyButton:

This village dweller doesn't understand the meaning of a digital platform. Manual intervention and manipulations is gone.

I didn’t even have to wait 24hrs for your answer

Naira crashes back to 1640

https://nairaland.unblockandhide.com/8287530/speculators-lament-naira-crashes-back

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

EDIT: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value. One of them made a funny remark that all the "yankee bois" want to ride on the bad exchange rate to become billionaires in Naira , so they are selling off their dollars more than usual because it will fetch them more this period.

I am not unpatriotic, I Naira gain, it is for our collective benefit.

Are those people also exchanging their FX at the official market?

It's usually a hit or miss game

maxkia:


Funny enough it's going to keep coming down . DONALD TRUMP'S IMMIGRATION LAW is making A lot of Nigerians to return back to Nigeria in droves and invest here . It's better they they come back themselves and transfer their investment here than been report. So buying dollars to keep now is a bad investment end of January if will be 1000 naira to 1 dollar . I will refer to this post again by end of january.

lol. Dey play. 2025 budget benchmarked dollar at 1400/$. No magic or voodoo will make dollar trade for 1000 by the end of January.

Better save your money in dollars than in naira. That’s what many politicians do.

This lamba will soon be over after Christmas

Yankee101:


“I grew Nigeria’s FX reserves from $3.7 billion to $45 billion, saved $25 billion in ECA” — Obasanjo

https://nairametrics.com/2024/10/25/i-grew-nigerias-fx-reserves-from-3-7-billion-to-45-billion-saved-25-billion-in-eca-obasanjo/?amp=1

Okonjo Eweala debunked this already.... all he left with CBN was 31. Something billion......everything else that he was even claiming in left in reserves was bot upto 45 billion.... https://www.google.com/amp/s/www.vanguardngr.com/2015/01/55bn-got-wrong-fg-replies-obasanjo/amp/

patrickcollins:
Your analysis is wrong last budget was set at 800 per dollar was it achieved the answer is no and what's that telling you with regards to whatever rate the budget is set at

Okay let's wait and see......

Kukutenla:

Is the Eurobond the reason for rising reserve?
Reserves already hit 40bn before the Eurobond
How did a $2.2bn bond bring in $9bn

go and read what an Oversubscription means....

richmond500:
September 2014 it was above $40.2b

share your source.....

Softmirror:


Did it rise over night? I shake my head lol. You want it to fall over night. 🤣🤣🤣🤣🤣

Hmm...omase o

leokid866:
Okonjo Eweala debunked this already.... all he left with CBN was 31. Something billion......everything else that he was even claiming in left in reserves was bot upto 45 billion.... https://www.google.com/amp/s/www.vanguardngr.com/2015/01/55bn-got-wrong-fg-replies-obasanjo/amp/

There’s a difference between what you built it to and what you left behind

Yar’adua built it up too

The figure changes as you make your balance of payments. That’s it’s 40 today dosent mean it will even remain at 40 in one week much less after this tenure

Softmirror:


Did it rise over night? I shake my head lol. You want it to fall over night. 🤣🤣🤣🤣🤣

Ntor!

https://nairaland.unblockandhide.com/8287530/speculators-lament-naira-crashes-back

leokid866:
share your source.....

Oga just check Google. "Nigeria external reserves 2024 september"
There was a time it was around 50b too, but I can't the month and year

richmond500:
Oga just check Google. "Nigeria external reserves 2024 september"
There was a time it was around 50b too, but I can't the month and year

lol....now I know you lying.....Nigerias External reserves have never reached 50 billion $.....and you're the one who brought it up so share your source or accept you're lying.....

Yankee101:


There’s a difference between what you built it to and what you left behind

Yar’adua built it up too

The figure changes as you make your balance of payments. That’s it’s 40 today dosent mean it will even remain at 40 in one week much less after this tenure

Oga shift I beg.... you lost on your point on Objs claims now you're trying to shift goal post......🙄

leokid866:
lol....now I know you lying.....Nigerias External reserves have never reached 50 billion $.....and you're the one who brought it up so share your source or accept you're lying.....

we have up to $47 billion as external reserves

richmond500:
we have up to $47 billion as external reserves

sorry I thought you were the guy quoting from before saying we had 50 billion in reserves in 2014....

leokid866:
sorry I thought you were the guy quoting from before saying we had 50 billion in reserves in 2014....

I am the same person, we had $68billion in 2008 august

richmond500:
I am the same person, we had $68billion in 2008 august

this is false reporting first off Nigerias total foreign reserves highest peak is 64 billion......not 68....and I'm not asking you for our total reserves but reserves held by CBN.....that is why Okonjie came out to let Obj know that what he left with CBN was not upto 31.5 billion......

leokid866:
Oga shift I beg.... you lost on your point on Objs claims now you're trying to shift goal post......🙄

I don’t do them talk say…. This is an from the CBN itself. All you need to do is read and become enlightened

Yankee101:


I don’t do them talk say…. This is an from the CBN itself. All you need to do is read and become enlightened

This is total reserves which includes What is in Fg savings and excess crude not what is held by the CBN Itself.....like I said Shift.....

leokid866:
This is total reserves which includes What is in Fg savings and excess crude not what is held by the CBN Itself.....like I said Shift.....

Tinubu’s 40bn is the same as the one I showed you and derived the same way

Gimme another excuse

This is Tinubu’s

I wonder how una dey take sleep when they ask you to defend rubbish and you keep going even when you’re wrong. How much does it take to buy someone like you please?

PressMyButton:


https://nairametrics.com/2024/12/06/breaking-naira-gains-rapidly-against-the-dollar-as-sellers-struggle-to-find-buyers/?amp=1

Yankee101:


Tinubu’s 40bn is the same as the one I showed you and derived the same way

Gimme another excuse

This is Tinubu’s

I wonder how una dey take sleep when they ask you to defend rubbish and you keep going even when you’re wrong. How much does it take to buy someone like you please?

Well I stand corrected I thought the 40.2 billion was what was held by CBN and not the Total of all reserves.....still on still I stand on his Mandate and if you don't like it we will see you in 2031........

InvertedHammer:
/
The appreciation in naira is highly appreciated.

More opportunities for smart people to load up on dollars. It is a cycle. Those who got in at $/N1000 made a killing and offloaded around $/N1700. Another opportunity is nigh.

After this reset, the next push will be $/N2000+

/

leokid866:
Well I stand corrected I thought the 40.2 billion was what was held by CBN and not the Total of all reserves.....still on still I stand on his Mandate and if you don't like it we will see you in 2031........

You own is even better
You have the balls to it when you’re wrong
Anyone who is president wouldn’t hurt my economy, I just say the truth

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

EDIT: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value. One of them made a funny remark that all the "yankee bois" want to ride on the bad exchange rate to become billionaires in Naira , so they are selling off their dollars more than usual because it will fetch them more this period.

I am not unpatriotic, I Naira gain, it is for our collective benefit.

is the season over?