REVEALED: ₦1,900 Naira to $1? CBN, Fintech & Crypto Ban Explained!
REVEALED: ₦1,900 Naira to $1? CBN, Fintech & Crypto Ban Explained!
Over the last few weeks, the Naira to dollar exchange rate has hung around the 1500 Naira to 1 dollar zone. However, at some point in February, the value of the Naira slumped to a whopping 1900 to the dollar. In this video, I will help you make sense of all the activities and controversies that have flown around in this period. What are your…
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What do you think about the exchange rate & the current situation? Do you think it could get better? Reply below 👇🏾 Let’s chat!
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Can someone please provide me the answers to these? Thanks in advance.
5 Naira bill = ______________US money.
10 Naira bill = _____________US money.
20 Naira bill = _____________US money.
50 Naira bill = _____________US money.
1000 Naira bill = ________ US money.
Thanks for the forecast! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How can I transfer them to Binance?
Listening to this again, I see you stayed "politically correct". Had some choice words and particularly painted certain parties to be more… reasonable than they truly are.
The Ethiopian government announces floating maket this week and we are afraid we could be like Nigerian. Could you make a video about it?
Bye to naira
🤷It's very simple! 🧏They get fat pays, 🙅leave D youth with pins 💁Dat can't do anything. 😉Dey know what they're doing!
Thanks for the expose Fisayo, my POV is the other side of financial market disruption that isn’t spoken about. “Illegal racketeering” committed by banks & politicians who embezzle public funds. They also get these monies moved out using the crypto currency & all of these contribute to the weakening of the economy but many people overlook this eg Former Gov of Kogi state case with the EFCC
No too much explanation. Nigerian government wants to keep there citizens under their control through poverty to please their colonial masters. That is the secret behind the scene.
Nigeria is already useless
A very insightful video ❤
Nice video but you actually did not explain why the crypto ban resulted in stability of the naira.
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Too bad most Nigerian youths are not educated on topics like this…
Even myself recently started educating myself on more government operations…
We love to over-complicate things in Nigeria. The facts regarding crypto and the currency rate are far simpler than this video suggests. Floating the currency exposed the naira to market forces and we simply do not generate much $ hence the naira fell. Crypto only reduces the friction in currency transactions it does not and cannot cause a fall in value. In order to prop the naira up CBN started pumping $ into the market from our foreign reserves, then claimed that restrictions on crypto yielded results. All you need to do is plot graphs of cbn foreign reserves against $ value to see this. If a govt is to float an economy then it needs to let it float properly.
Any foreign investor with half a brain can see what cbn tried to do when the $ dipped to about N1k before rising back to 1500.
This is nothing but a classic show from the man FF
This just seems like an easy route to blaming fintech for the weakening of the naira, excluding the principal factors such as policies, lack of economic roadmap, unemployment etc
Its truly amazing the way youre effortlessly sticking to your script and still making it seem like you arent using a script
thank you for the insights boss fisayo🙌🙌
Thanks for doing this .
I've been trying do a research on why Binance was banned but I've been restricted due to inability to subscribe on platforms
maybe tech guy IS finance guy after all. Looking forward to more vids like this
Where do you get your stock videos from.
Great video by the way. I pray it doesn't lead to the "Great Depression of the 1930's" or "2009 UK inflation"
As an Economic student, just as how Zimbabwe made bad monetary and fiscal policies which led to its demise, i hope Nigeria don't do thesame.
Though around the latter part of march and early April,naira gained the title of being "the strongest currency in the 1st quarter of 2024" by forbes.
For the naira to reach equilibrium of 1050/$ back in April and the slight reduction in some certain goods and services i think it might have a correction in the next couple of months if good policies are kept.
Keep in mind the FOUR(4) Economics/business cycle.
1. Expansionary (getting to full employment)
2. Peak(full employment)
3. Contraction (unemployment)
4. Trough (full unemployment)
I hope this was helpful in any way.
I am going shopping now after this video 💰