Islamic Republic of Nigeria: Buhari directs CBN to revert itself and sell dollar to Muslim pilgrims at N197 as against N400

Islamic Republic of Nigeria: Buhari directs CBN to revert itself and sell dollar to Muslim pilgrims at N197 as against N400

'General' Muhammadu Buhari has ordered the Central Bank of Nigeria (CBN) to issue concessionary rights to Muslim pilgrims, to access forex. CBN on Thursday, directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance (PTA), to intending pilgrims at a concessionary exchange rate of N197 to $1. As at yesterday $1 dollar was exchanged for N400. This implies that Buhari is giving a whooping subsidy of N203 for each dollar exchanged by a Muslim pilgrim.

Nigeria in QUAGMIRE as Naira sinks further into the swamp of oblivion.Exchanges 377 to Dollar. Adeosun and Emefiele's jobs on the line

Nigeria in quagmire as Naira sinks further into the swamp of oblivion.Exchanges 377 to Dollar. Adeosun and Emefiele's jobs on the line.

The naira yesterday exchanged at N377 to dollar in the parallel market, weaker than N373 on Wednesday after the Central Bank of Nigeria (CBN) failed to intervene in the market, Signal reports.

At the interbank rate, the currency traded at N309 to dollar at noon, but later recovered to close at 292.40 on thin trades. The interbank market traded a total of $7.27 million.

N370/$ as Naira continues free fall

N370/$ as Naira continues free fall  

The sharp depreciation of the naira in the parallel market triggered by the deregulation of petrol importation continued yesterday, with the naira depreciating to N370 per dollar. 

Floundering Naira: Nigerians to face additional pain as airlines conclude plans to sell tickets only in dollars

Floundering Naira: Nigerians to face additional pain as Airlines conclude plans for tickets to be sold only in dollars

A fresh crisis looms in the aviation industry as some foreign airlines have concluded plans to quote and receive payment for tickets only in the United States dollars. The situation is as a result of their inability to repatriate funds out of the country due to scarcity of the US currency.

See how China SCAMMED Buhari and Nigerians have no idea

Some Nigerians are jubilating over $2b loan from China and the so called Yuan trading deal.

China wants to lend us 2 billion dollars, but they want to give us in Yuan and not the dollar itself.

They are not handling us cash, but service exchange; meaning if we want to buy iron rod, we buy it from Chinese company and they pay the company on our behalf. If we want to construct railway, they will construct it for us and take the money out of the loan. In the end, we are bound to award contracts to them, cutting out competition from others and fairplay to others (non Chinese company can’t bid or compete to reduce the cost). They get to value the contract and determine the price, meaning they can sell something worth 200 Naira for N2000 and we don’t have a choice ‘cos it is on credit.

Buhari infuriates United States as Nigeria abandons the Dollar for Chinese Yuan

Buhari infuriates United States as Nigeria abandons the Dollar for Chinese Yuan

God almighty has led General Muhammadu Buhari to make the greatest mistake of his life. Biafrans rejoice as Buhari abandons United States that railroaded him into power. Buhari and the Nigeria's Central Bank of Nigeria (CBN) signed a currency deal with the Industrial and Commercial Bank of China Ltd on Tuesday in Beijing, China.

Nigeria's Naira continues to dance 'JANGOLOVA'. Slumps to N340 per$1

Nigeria's Naira continues to dance 'JANGOLOVA'. Slumps to N340 per$1

Nigeria's Naira continues to slide to the abyss, despite temporary recovery it purportedly made few days ago. The artificial recovery couldn't stand the test of time as demand for foreign currency pushed naira to a 35% collapse as the local currency traded at N340/$, yesterday, in major parallel market centres across Lagos. 

Nigerians begin to feel Buhari's PINCH: Parents of overseas students weep in banks

Nigerians begin to feel Buhari's PINCH: Parents of overseas students weep in banks

At last Nigerians have started to feel General Muhammadu Buhari's wicked pinch of misgovernance. 

Punch reports that the as dollar scarcity worsens in Nigeria, parents who have children studying overseas have taken their frustrations to banks, with some of them weeping openly.

Buhari crashes Nigeria's Naira to N338 per $1

Buhari crashes Nigeria's Naira to N338 per $1

About this time last year when many dullards were clamouring FeBUHARI, Muhammadu Buhari was telling everyone how  he was going to solve Nigeria's problem, Buhari stated about a year ago, I will fight 'Kwarruption', I will lock up Kwarruption', I will deal with Kwarruption'. 

As Buhari continue to 'deal with Kwarruption (without securing any conviction for almost 10 months, Nigeria's economy is tumbling to the abyss. Naira has hit rock-bottom!

Naira sinks further into the abyss as Nigeria's slide towards OBLIVION quickens

Naira sinks further into the abyss as Nigeria slide towards OBLIVION quickens

As Nigeria progresses in her journey to oblivion, the country's currency naira on Wednesday continued depreciating against the dollar following scarcity of the greenback [dollar] and strong demand for it amid dwindling liquidity.

Naira sinks further into the abyss as Nigeria journeys towards OBLIVION intensifies

Naira continues sinks further into the abyss as Nigeria journeys towards OBLIVION intensifies

As Nigeria progresses in her journey to oblivion, the country's currency naira on Wednesday continued depreciating against the dollar following scarcity of the greenback [dollar] and strong demand for it amid dwindling liquidity.

Buhari's Nigeria goes UNDER as crude oil price crashes

Buhari's Nigeria goes UNDER as crude oil price crashes

Nigeria under General Muhammadu Buhari is literary going under. Nigeria’s local currency, the Naira has continued to slide against the US Dollar in the parallel market. There was rapid decent mid this week as it naira exchanged at a historic N300 per dollar in Kano, N290 in Lagos and N292 in Abuja. The previous day Naira exchange for N285 per dollar.