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1.
a friendly greeting from a lad to another lad.

It can be substituted in place of "hello" "hey" "what's up?"
Lad 1: Off to the pub now?

Lad 2: Naye bud

Lad 3: Naye that film was not too bad
by G. Graham February 11, 2007
 
2.
Negative of aye.
Did you like the movie?
Uhhh....naye.
by Anonymous March 23, 2003