Some Nigerians Profiting From Naira’s FX Market Mess – Business Correspondent

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Some Nigerians Profiting From Naira’s FX Market Mess – Business Correspondent


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47 Comments

  1. Those Nigerians have been Identified and they are the Bank CEO’s. But nothing is goi g to happen to them because the politicians are benefiting from them as well. It’s us against the elites int his country.

  2. For those rejoicing over the Naira's slight improvement today, remember that market fluctuations are normal; prices don't always move in a straight line but rather in waves, correcting before potentially surging higher. 3:11 3:13

  3. No matter how you cut it, somebody wins. It's the law of supply and demand. We are learning the hard way that you cannot consume your way into prosperity without producing what is to be consumed.

  4. It s very easy.
    If our government can use the media to control our mind set. The same can be use for food production from neighbors hood to neighbors hood. Let the government provide free seed of all varieties and give it free of charge provide free tractor service , free farm education and free irrigation and professional support for upcoming Farmers and apply all these from community level. This will change the narrative.

  5. All Tinubu has to do is to sign an executive order – No one should sell currency in Nigeria again except banks through CBN potals. Then, any individual found with more than $1,000 or £1000 cash should be jailed for 3 yrs with no fines. I tell u, once some people are arrested & prosecuted, miracles of cash in dollars will start to flow.

  6. Hold all government leaders at all levels federal, state, LGAs all equally accountable. Just shouting Tinubu 24-7 provides a perfect cover for governors and LGA chairmen to LOOT their treasuries. There is hardly any state governor since 1999 that did not exit office a billionaire, even LGA chairmen now exit office as billionaires.

  7. All the talking, yet Nigerians cannot work things out to an effective solution. The Naira, is gone! Those leaders with greedy and selfish hoarding of dollars 💸 is causing this problem. This is Zimbabwe, for real. You never thought this was going to happen. Here you are, imagine an 🛢 oil rich country like Nigeria,with self destructive leaders. Yet these criminals have the gut to award their salary in dollars equivalent. Terrible country.

  8. There has been a lot of allegations against the state governors especially, immediately they get their fec money that most of them change 3/4 of the money into foreign currencies instead of them to keep the money in the banks in the naira they collected.

  9. Some unpatriotic Nigerian are profiting from the Naira weakness, the speculator are the major problem of the slump in Nigeria ..Not every time currency drop becos of negative new but our currency just keep loosing ground without technical reason order than demand and supply speculation…God help us in Nigeria ..

  10. I agree with everyone that productivity in Nigeria must improve in order to reduce inflation. However, the current Nigerian government's handling of the situation is disgraceful, and I see no change or improvement if it continues. Tinubu has lost control and has no idea what to do. The current Nigerian situation can be easily resolved if Tinubu does not fall asleep at the wheel and engage in nepotism and corruption. He needs to wake up and start running the country as it should be, not as if it were his family's property. We Nigerians bear a lot of the blame because we elected this idiot with a fake degree to the government. People said Tinubu did good things in Lagos during his governorship, but we forgot that he was not the one who improved the state; it was the interior and development minister at the time, but Tinubu simply took credit for what he did not do. Also, we Nigerians let him lie to us while still voting for him. Wake up, Nigeria.

  11. It is not just about farmers going back to their farms, it is also about the security of what you have planted. What happens now is that you plant and some persons come from behind to harvest everything.

  12. Both ordinary people and those in business and even government are profiting from it. Nigerians love to make money from the problems facing their country. After profiting, theys start complaining and blaming the government.

  13. I wonder why Nigerian government have not banned Nigeria bureau de change aka dollar mallam.

    Magufuli did the same in Tanzania.

    Ban them and put law enforcement out there to arrest anyone who breaks that.

  14. Even if you change those currencies to naira and think you can flex with that naira, u are joking cos the prices of goods will eat up ur money.

  15. Corruption is big business in Nigeria, keep looting the naira and rapidly change it to dollar and stock it at their private homes while the country can't generate forex bcos we don't export, No problem, the dollars available for looting will finish and they will bring it out to buy naira, evil peoples.

  16. President says '' petrol subsidy is gone ''…..9 months down the line IMF says there's still subsidy on PMS …..today …. 1USD=1780 naira… parallel market (12 40 )pm local time )…..So by the time the subsidy is removed then the music will start playing