Naira slumps further, exchanges for 504/$ at parallel market - Punch Newspapers

The naira exchanged to the dollar at N504 at the parallel market on Friday, according to the Bureau de Change operators.According to naijabdcs.com, the Central Bank of Nigeria’s official rate for the BDCs, the dollar was bought and sold at the rate of N503 and N504 as of Friday evening.

It would be recalled that in April 2017, the CBN established the I&E forex window as part of efforts to deepen the foreign exchange market and accommodate all forex obligations. The CBN had also disclosed that it was increasing the amount of foreign exchange allocated to banks to meet legitimate needs.

2).....misplaced priority, without building human infrastructure, buy weapons and share with insurgents, pay humongous salaries to lazy civil servants and put the balance in foreign accounts of individuals...the result is nothing but hyper inflation

1) When you are not producing anything but only consuming. When you take money from Niger Delta oil & taxes from Lagos and use it to feed idle people in idp camps, pay ransom to bloodsucking people called terrorists, building infrastructure with borrowed money, based on........

Emiefele and Buhari don finish the Naira, abeg make the years do fast forward. 🤦🏾‍♂️

Ohhgg no, clueless government what is this?

🙆🏾‍♂️🙆🏾‍♂️🙆🏾‍♂️🙆🏾‍♂️Chineke! Abeg, where are my foreign clients na? It's now that I need those foreign briefs God, epp me to move my ministry to the permanent site jare

Upon all the continuous loans...

etubom_virtuoso

Useless Government

By the time Buhari leaves Office only God will know what's left of Nigeria.

Why Buhari no fit kukuma fall like this useless naira make we rest here na.

It’s the fault of the lazy youths; all they know is to protest. The government is doing everything right. best government since 1960. Worst set of youths since amalgamation.

MBuhari the destroyer of Nigeria economy, a complete disaster & fiasco, all he does is borrow money from around the world and squander it, in name of executing projects, Nigeria most corrupt administration & leader.

This naira go reach 1000 cause na block heads we get for power now

Smh

He'll make 1 naira to 1 dollar, their promise.

Naira note is an embarrassment,it falls everyday.🤦🏾‍♂️

RIP Naira note

Death of the Naira.

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Naira loses further at black marketNaira plunged to 505 to the dollar. Weak currency -it's the biggest opportunity to conquer a market & beat competitors. -it's biggest opportunity to develop fast by taking advantage of the market. when you're a developed country the world won't easily let you have a weak currency to challenge your excess in trade. Lazy people always complain about exchange rate, why ? -Because they are more consumers than producers -they are importers not exporters -They depend more on foreigners than locals -they are not independent -they are not auto-sufficient --- When you know nothing about currency --- When you produce everything you consume -you don't care about exchange rate -you are mad when you currency gets stronger (Lost of market against competitors) -you pray for your currency to be weaker and weaker (expansion of market)
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Naira gains at official marketThe currency remained unchanged at the parallel market segment for seven consecutive trading days.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Naira loses further at black marketNaira plunged to 505 to the dollar. Weak currency -it's the biggest opportunity to conquer a market & beat competitors. -it's biggest opportunity to develop fast by taking advantage of the market. when you're a developed country the world won't easily let you have a weak currency to challenge your excess in trade. Lazy people always complain about exchange rate, why ? -Because they are more consumers than producers -they are importers not exporters -They depend more on foreigners than locals -they are not independent -they are not auto-sufficient --- When you know nothing about currency --- When you produce everything you consume -you don't care about exchange rate -you are mad when you currency gets stronger (Lost of market against competitors) -you pray for your currency to be weaker and weaker (expansion of market)
Source: PremiumTimesng - 🏆 3. / 78 Read more »