The News Agency of Nigeria (NAN) reports that the new rate had made the naira to lose N16.50 within five days. The CBN’s website, however, put the naira against the dollar at N167.50, while the pound sold for N253.20 and the euro stood at N193.89.
he development has resulted into speculation in the market and caused ripple effects on other currencies. NAN correspondent who visited some bureau de change and black market operators in Lagos said that they could not give rates to the pound sterling and the euro. Dealers who preferred anonymity said that there was scarcity of dollars in circulation. They said that the Central Bank of Nigeria (CBN) had stopped selling forex to the bureaux de change since last year.
The dealers added that the recent review of trading positions for the forex trading to 72 hours also contributed to speculation in the system. The effect, they added, was that the naira could depreciate further by next week. NAN recalled that the CBN in November 2014 devalued the naira. (NAN)
159 comments:
This is sad! We depended too much on oil.
It is well wit us o
This is so serious. Making everything expensive to buy.
This is so serious
Hmmm! Euro is falling, Dollar is rising.
$.
$.
@Mr Endowed via Lumia phone
Naija don suffer
Buhari 2015
Me like.
Watttttttttttt, na waooooooo...bad govt
Choi! Nneka u re in trouble.
I can see Jonathan is working, he's really working oo *munching on my groundnut and bread *
I will save that my small dollars till it increases more before i change it to naira.
$.
$.
@Mr Endowed via Lumia phone
That is bad
Naija, may God help us. #lindagiveawayonmymind
CBN governor must be sacked
All this family members living abroad should start sending money now oooo, dis is so a gud tym.
Hmm the ship of this country is sinking. How do we even intend to stop inflation when we are knee deep in depth borrowing from richer nations whose currency has more weight than Asari and Doyin combined?
Holy molly. This is crazy na. The prices of almost everything will go up na. Nawah.
Oh My God, where are we going in this country?
⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥
Hmmm na waoooo. Vote for #change# my people vote Buhari and Osinbajo for president on the 14th of nest mont
Na wa o. I don't think the naira has had it so bad in recent times.
My people Abeg, we need a change! We need it urgently.. It will get to 1$ - 1000# by end of February if we don't deman for that change now.. All other oil producing nations are enjoying except Nigeria.. Our leaders are building estates in Dubai, UK, etc, including GEJ. We need a change.
I see dollar getting to N300 per dollar soon..
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.
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.Disclaimer:: Raise Your Words, Not Your Voice. It Is Rain That Grows Flowers, Not Thunder..
Hmmm na waoooo. Vote for #change# my people vote Buhari and Osinbajo for president on the 14th of nest mont
hmmmmm......naija una weldone....there is God o
*
*
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#LIBBOO
Jonah! I dey pity you o!
Oh my dear country...which way Naija?
And our Naira became badluck in Mbaka's voice..
Heaven on Earth
Haaaaa naija don finish oooooo ki lo de gan yeeeeeeeeh ds is bad ooo.
Shit just dey happen!!
It is well.
@Sophia Stephen
To fortify the naira against the raging storm of devaluation, the economy of Nigeria has to be free from its monolithic nature.
GEJ is rapidly developing the Agricultural sector. That has been Nigeria's greatest selling point until the military can to rubbish it.
We have to go back to the basics. FOOD FROM THE SOIL IS THE BEST.
vote GEJ for stability of the Naira. Thank very much.
Bonario one love.
Thank you.
what's the meaning of this. Nigeria where are we going. FG has abandoned its citizen busy with election to steal more Naira. Tufia kwa. Am sorry for Nigeria my beloved Country.
208? Hmmmm
Evrytin in 9ja just seems to be crashing
God help us
This is not good
Good news for we Nigerians that are paid in dollars.....
Its only the poor that suffers this Devaluation. God save this Nation.
lol.......tank God it favours me
Ewooo, soon we would meet zimbabwe if something is not done.
God help 9ja
Wow dis is serious
Wetin come dey happen, make una pity common man cos na dem dey use head carry everything. Linda take note!
This is heartbreaking. It's true. It was 205 naira to a dollar on Thursday. And thy keep lying to us that the economy is great! The fake figures they took to Davos , still no light, PHCN is half dead, health workers have been on strike since November last year, do we still have health minister? This is truly a failed country. How much can one possibly travel with except you are paid some estacode. This is very serious.
Wetin come dey happen, make una pity common man cos na dem dey use head carry everything. Linda take note!
Wetin come dey happen, make una pity common man cos na dem dey use head carry everything. Linda take note!
This doesn't sound good!
This is as a result of bad governance
Na like dis we go become fastest growing economy? Kai!
This is really bad for Nigeria, we re fast becoming a very cheap country wit costly things in the market.
Y does d naira keep falling
This is a serious issue
Dizanigeria.blogspot.com
Hmmn y does it keep falling?
May God help our economy this year. What is happening to us? To shop from America is now a problem.
Nonsense pple financing d affair of our economics...wen novies rule dat sector,things like dis re bound 2 happen
Ok
Na wa o.this is serious
for the doubting thomases, it was in Apostle suleimans prophesies.......
Okay
What is kind of government do we have in this country, can you imagine a dollar is 215. Shame to all our leaders including cbn governor
Naira is dis u?
Cedis is laughing ooo
wahala dey oo .
Okay
Order for your beautiful bedspread @ 79AEFD3B. Delivery available nationwide
For how long will Naira continue to depreciate?...#singing# which way Nigeria,which way to go,I luv my fatherland *in sunny Okosun's voice*
And they said this present adm is moving Nigerian economy forward...i guess that's the definition of moving forward....who is fooling who
¤¤¤QUEENMAYA¤¤¤
This is serious matter ooooo,pls they should do something bf it gets out of. Hand
#CHANGEFEB2015BUHARIFORPRESIDENT
This is serious!!!
God you are my source
I believe ur report only
Some unam ikot will come here and blame @Jonathan.... Like say @Jonathan lo ko na yii nii?
"Heaven on earth!!!Wonders without end,that's my new realm"
@Galore
200 and what? That's just too high. Linda post my comments. Itz no longer funny anymore.
world oil price drops, then the US discriminately stop buying oil from us that they refine and then ship it back to us...now our economy is bleeding real fast.. we need to diversify our economy
That is wot usually happen wen a nation is run by a clueless fool like Jonathan. What did he went and borrow money from international committed for? To sponsors or buy more arm for book harm abi cos nigerian army re under equip at d moment. The worst of it all is dat d goat is still campaign, wot a tragedy?
& Una say make We vote GEJ wey no get simple economic sense on how to manage economy.CBN useless governor is not exempted also.......
Wow!
What nonsense???
a.k.a EDWIN CHINEDU AZUBUKO said...
.
I thought they said our economy is growing?? Pls i want to knw hw abeg....
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***CURRENTLY IN JUPITER***
NNA eh..wahs happening..best time to go change ur dollars..gotta make some calls sha
world oil price drops, then the US discriminately stop buying oil from us that they refine and then ship it back to us...now our economy is bleeding real fast.. we need to diversify our economy
Chisos is Lord..
Good, Pls vote Jonathan for 2015 una hear. By 2019 naira should be 1000 to 1usd. Fucktard government and stupid public officers running this country to the ground.
Up GEJ! Kontinuuu
Lord have mercy!!!!
God help us all.
Check it out:http://pamscrib.blogspot.com
Lindy baby,we really need a change in govt.i never would have imagined a dollar will go that far
This price hike we are experiencing is part of the effects of campaign. So many political aspirants are spending/keeping a lot of dollars right now hence the scarcity of dollars. Things wld get better when we are closer to elections/ when elections are over. Na our politicians cos am. All of them.
It is well even in the well #onelovefromsnow#
u no dey aiit oooooo
This is a very serious problem that calls for concern
We're in aa recession, this isn't time to to play politics. Use your votes wisely remember there are other candidates for the race to select a ruler pls be wise.
Choi! Nneka u re in trouble.
Hmmmmmmmmmmm............... Diz is terrible!!!!!
*oparoescalade*
Hmmmmmmmmmmm............... Diz is terrible!!!!!
*oparoescalade*
Bonita of Life.
This your shade at Asari and Okupe had me in rolling on the floor laughing my ass out.
Hmmmmmmmmmmm............... Diz is terrible!!!!!
*oparoescalade*
God please help the foreign student like me, things are bad here, in abroad especially when your only schooling not working.... it's bad... I need student loan Linda please how do I go about it
Now I see what a Phd holder can really do as a president..GEJ should go back to being a lecturer biko.
Don't force me to plant a slap on ur face! Get out of here now!
The CBN refused to sell to the BDC all cos of the little they want the banks to rip pple of, GODWIN THE CBN governor is behind the rising of dollars, he's sabotaging the whole dollars of a thing, he made the dollars scarce so the demand would be high which in turn make it high in the black market ? Say no to Emefiele policy
Yahoo boiz r happy
Hmmmm. Ok o
HUMBLE EVE
Lord have mercy.
What did u expect? Change is eminent!
i hope dollar won't get to #200 with the way things are going
#Commenting thru Glo 4G LTE
No its not
Oh boy see Dolapo rate, now i must hustle hard to get the profit of the exchange rate... O'Lord bless my hustle in abundant! AMEN
StillDatSame2015Dude
No o, they should leave him there so that they can keep stealing our money...the governor that was working and saying the truth, gej sacked him...and clueless ppl will still want to vote the clueless one in...I sorry for Nigeria
LOL....we desperately need CHANGE in this country
What is d purpose of removing #10 from the petrol price wen u knw u were gonna make naira like dz? We serzly need dz change
Wat is the purpose of removing #10 from the petrol's price wen you knw you r coming to us like dz 4 naira and dollars? U serzly need CHANGE
Sighs
May God help us in this nation ,but this so called CBN governor should be sack with immediate effect how can someone managed ur office for more than 3yrs and maintained the naira you just came up within one year and spoiled everything please presido we need this CBN back to his zenith bank before elections else???????
Amen.
CBN Governor should be sack....
Wow!
Hw long wil dis continue...?
Its N280.32 to a £1 as at yesterday.wahala dey.
...Mama J...
People abroad, time to invest in Nigeria.
Shalom in Nigeria, Amen.
and we are suppose to be happy to keep GEJ in office for another 4 years cos he went to Lagos and shook hands with some 'celebs' ba
May God help us in this nation ,but this so called CBN governor should be sack with immediate effect how can someone managed ur office for more than 3yrs and maintained the naira you just came up within one year and spoiled everything please presido we need this CBN back to his zenith bank before elections else???????
May God help us in this nation ,but this so called CBN governor should be sack with immediate effect how can someone managed ur office for more than 3yrs and maintained the naira you just came up within one year and spoiled everything please presido we need this CBN back to his zenith bank before elections else???????
a wise man once said...madness is doing the same thing but expecting a different result....the country is going down the drain under PDP but because of selfishness and self-centredness, and blindness....ppl like you will still insist on voting for the root cause of our predicament....SMH
Keep supporting Jonathan...soon human beings will start eating human beings in Nigeria
According to okupe,Jonathan, abati, ffk, and omokri....it's all apc and buhari's fault
Gej is working!!
This is the problem when people don't learn in school! Exchange rate is linked to demand and supply! When we export crude oil from. the niger delta, we are paid in dollars- this dollars needs to be converted to naira as a result the naira is needed. (demand goes up increases price) which pushes the value upwards. But each time we import (fuel, cars food etc) the importer sells goods in naira but needs dollars to import, so naira chases the dollar which pushes the dollar upwards to the naira. Other factors also apply. In nigeria, we import fuel and export crude oil, the downward price of oil has affected the amount of dollars we get as a country, thus falling our naira! It is not the CBN's fault or GEJ. It's nigeria's over dependence on importation and oil as our main exporting product dat caused this problem! GMB can't solve this problem, bsides most oil producing countries are experiencing similar problems!
too bad.........215 to $1.....freaking bad
@GEJ, (impersonator) you must be clueless like your mentor, even GEJ himself admitted his failure but the problems we are having in this country is you the loyalists to the incumbent President painting every thing as if it is all well as if we are unaware of the un healthy economy situation of our dear country (Nigeria). February is around the corner, may God give us the will and the right to vote the right leaders and stop dressing the failure. 'GMB for 2015'
We are screwed!
JEEEZZZZ this affects me... and things are gettin worse instead
Yes Na. Na em white peepz go still suffer Huge loss from .....
All we need is change in this country.
Sea money say so via droid.
And u don't want change from badluck leader??
Where is our $25billion?
Bring back our $25billion!!!
The CBN governor should go for a better economist to take over.
That's funny
The CBN governor should go for a better economist to take over.
This is the work of the opposition to abi
This Jonathan should go and sit down abeg
You this fake Jonathan supporter, you are as daft and stupid as your president. Idiot!
Good for Yahoo Boys ..hahaha
Jeez!!!! U need to go back to school asap
Kai!. English don suffer
@lwkmd.......dey re rli happy indeed. U funny die
Nigerians should apologise to Pst Tunde Bakare.He prophesied then that 1. Nigerians will lose family values 2. There will be a very increase in corruption 3. Naira will be devalued like never before. When the word of the lord comes down,it doesn't go back unfulfilled.
OMG,this is disastrous
Abeg make we no hear vote GEJ again 4 this life. We Nigerians are not fools jawe he has wasted his 4yrs and turned the country upside down he is now campaigning again and still can't seize this opportunity to correct his mistake. He is lying sef while campaigning saying things he neva did. Are we toys? Now dollar is increasing businesses are on a stand still, every1 is complaining abi nobe Jonathan still dey 4 power. Say no to GEJ he has done notin
Woohoo! This is great news for me! The exchange rate when I came in December was amazing! And now it just keeps getting better! Sorry Naira holders :(
Your own stupidity eh. Only deliverance can help you.
Where the useless Jonathan supporters, una no get mouth again,?vote Gej my ass... Until we start begging to eat abi before una know say we need change. Thieves
Where the useless Jonathan supporters, una no get mouth again,?vote Gej my ass... Until we start begging to eat abi before una know say we need change. Thieves
Lafº°˚=)) =))˚°Âº≈throwayº°˚ ˚=)) =))°Âº≈my
blackberryº°˚ =)) ˚ºinside water°˚ ˚
°Âº≈=))=))come dey dance Azonto°˚ ˚°ÂºAzonto ƪ
ʃ. ƪ *nerd* ʃ. ƪ.=)) ʃ. . . . ..≤¯≥. ≤¯≥. ≤¯≥ °˚ ˚
°:'( º.
Which way Nigeria. We need CHANGE, CHANGE FOR THE BETTER! Present administration keeps failing us!
Please, I beg all of you, the clueless commentators on this blog to vote for ur uncle clueless Jona.
Welldone Ebele. Mbaka has said it that Jonah has brought all the BAD LUCK in every sector in this country. As am talking to u now, GEJ sent his BOKO BOYS to Maiduguri only a day after his campaign there. They just want impose curfew on most Northern State where they knew it's hard for PDP to win there. God is with his obedient servants anywhere, all the time. God's willing, we shall see the end of these culprits soon, in the good names of Almighty God.
Please, I beg all of you, the clueless commentators on this blog to vote for ur uncle clueless Jona.
Welldone Ebele. Mbaka has said it that Jonah has brought all the BAD LUCK in every sector in this country. As am talking to u now, GEJ sent his BOKO BOYS to Maiduguri only a day after his campaign there. They just want impose curfew on most Northern State where they knew it's hard for PDP to win there. God is with his obedient servants anywhere, all the time. God's willing, we shall see the end of these culprits soon, in the good names of Almighty God.
@Mr.Shine; Abi you no shine ur eyes well well? I no go abuse u, but pls next time read the Linda's topic very well b4 commenting.
Politician are to be blamed... for the inflation in this country.... they have stored all the dollars.... what do you guys expect...when a dollar enters the country and they have already been bought by the people who calls themselves our Leaders.... the Change we need is for this old fools to keep there 1970's ideas and let the young once in that is the Change we need
if i shuld curse dis guy nao......seee wit ur brain now and not ur eyes alone
*debt
U dont borrow depth
Am tired of this country called Nigeria.
Omg, the only sensible explanation. Thank you!
Wat a shame. His wife is busy running and airline industry while we d masses are suffering. The worst part is dt clueless southerners will keep campaigning for him out of sentiments.it is well
Jonathan did this.
This is the work of the man who calls him Goodluck.
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