Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,730 members, 7,955,767 topics. Date: Sunday, 22 September 2024 at 02:38 PM |
Nairaland Forum / Nairaland / General / Business / CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% (42253 Views)
CBN Reduces Lending Rate To 11 Percent / Cash Shortage Hits Banks, Overnight Lending Rate Jumps / CBN Officially Devalues Naira (2) (3) (4)
(1) (2) (3) ... (7) (8) (9) (10) (11) (12) (Reply) (Go Down)
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by chukwuinya: 1:54pm On Nov 26, 2014 |
when economists are talking you should just be listening , not making noise before I take you into classroom franciskaine: |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by 1stdammy: 2:04pm On Nov 26, 2014 |
simplemach:Abi o, O sun mi o. Abeg help me ask dem wella oooo |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by gfullmoon(m): 2:13pm On Nov 26, 2014 |
Obama's electoral promise is in action and we're here catching cold. How many of our Leaders proimses has been fulfilled,power,Ajaokuta steel,Refinery,employment,health care,agriculture,education etc? Our leaders are visionless,that's our greatest curse never oil. Our oil could've taken us to the envy of Asian Tigers, Saudi,Qatar ect,but poor leadership and corruption since Independence has turned our Oil to a curse. Is has never been OIL BOOM in Nigeria rather OIL DOOM. 4 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 2:19pm On Nov 26, 2014 |
Save up enough now like Joseph did, and pray like never before. Nigeria will experience scarcity in 2015. It's a PROPHECY! Let he that has ears hear what the Spirit of the LORD is saying. Shalom people! 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by 1stdammy: 2:23pm On Nov 26, 2014 |
Keneking:Dis is jonathan again Are u for real!!!!? I seriously pity U o, 'cos it will get to a tym wen jonathan will b d only and d major determinant of all u wud b doing.............better think(its an advice) 1 Like 1 Share |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by UjSizzle(f): 2:28pm On Nov 26, 2014 |
My sincere sympathies to my Igbo brothers who have containers on the high sea You'd expect though that Nigeria would have learnt enough to diversify her economy by now, and increase our external reserves, instead of chopping all our oil money on useless luxury expenditures This crayfish condition we're constantly sucked into makes no sense at all. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by deenee: 2:30pm On Nov 26, 2014 |
I am tempted to coment but I will refrain because there are a lot of people that are still in the dark, have tunnel understanding of how and why such decisions are taken and still base their arguements along political, tribal and religous sentiments. I read some of the comments herein and still wonder where we have got it wrong. Is it with the educational system or the fact that we tend to value short term benefit over long term gratification. If this decision was taken in the US under similar circumstances we will all applaud it but because its Nigeria, there is outrage. May God open our eyes of understanding esp that of the youth our future leaders and God bless Nigeria. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by hmohammed(m): 2:38pm On Nov 26, 2014 |
deenee: |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Carlmax(m): 2:50pm On Nov 26, 2014 |
deenee: what's your point! 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by SirBlack999(m): 3:01pm On Nov 26, 2014 |
How the mighty has fallen |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by citizenisb: 3:09pm On Nov 26, 2014 |
The exchange rate for the dollar in Abuja parallel market, otherwise called the black market, on Wednesday rose to between N182 and N186, a day after the Central Bank of Nigeria devalued the nation’s currency by N13, an investigation by a News Agency of Nigeria correspondent revealed. This is against the new official exchange rate N168 announced on Tuesday by the Governor of CBN, Mr Godwin Emefiele. The NAN correspondent, who checked near the Sheraton Hotel, Zone 4, Abuja, the rendezvous for most ‘black’ market operators, found that the lowest naira exchange to the official exchange rate was N182. Some of the operators told NAN that the difference between their rate and the official rate was to accommodate the “extra charges’’ they pay to “dealers’’ they got the hard currency from. http://www.punchng.com/news/devaluation-naira-hits-n186-in-parallel-market/ 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nobody: 3:43pm On Nov 26, 2014 |
average minds analysing its effect on the economy, small idea minds castigating the govt, while genius minds like mine already locked into the opportunity and bought sufficient dollars at 156Naira,, ibo mind da greatest 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Virgindove(f): 4:00pm On Nov 26, 2014 |
I hope ours is not an animal kingdom being ruled by a zoologist claiming goodluck and patience are enough to bring the needed transformation, or how could one explain the daily dwindling fortune of our nation despite the abundance of both human and natural resources. Nigeria the giant, is now world acclaimed weakling in the comity of nations. The machinery upon which our existence depends is sick and need a physician for an urgent and honest diagnosis. 2 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Fourwinds: 4:18pm On Nov 26, 2014 |
We have i..diots managing our economy. How can someone tell me to devalue d naira is to strengthen it. When d prices of oil were high why didnt d naira appreciate in value to at least from #155 to #140. Den i will understand dis recent development. Nonsense policy makers 3 Likes 1 Share |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Delafruita(m): 4:41pm On Nov 26, 2014 |
atlwireles:do you always have to be mischievious all in a bid to defend jonathan?can't you have a mind of your own?Just 2weeks ago,I did an exchange from naira to the beninnoise CFA at the rate of 324,today I am amazed that the rate is 345.for those who think the devaluation of the naira is just economic hullaballo that won't affect them,its already affecting every sphere of the economy.imported goods will now cost more,exported goods will now fetch less.this is jonanomics at its peak.jonanomics is the art of pushing the burden for the failure of government unto the masses. 3 Likes |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Nosyke(m): 4:55pm On Nov 26, 2014 |
Great thread. I like the way most posters on this thread have been very detailed in their explanations and for most part , objective. Now as a layman, I just have a few questions: Assuming I have this agricultural product that I normally buy at 10 naira per quantity lets say in Feb/Mar and sell at 30 nair per quantity by Oct/Nov, with all these hapenings in the economy, is it still advisable to go ahead with such business next year? I am about making some business decision that will cost me so heavy funds but I am not sure whether to go ahead or not..... Thanks |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by atlwireles: 5:03pm On Nov 26, 2014 |
Delafruita: Educate yourself before posting gibberish. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Originalsly: 5:08pm On Nov 26, 2014 |
Nosyke:As a layman.....you will be paying more for the same product next year....the cost to develop and get the product to market will be greater...and your selling price would have to be greater. Whatever the product is...by the end of the year you will notice an increase in the market price....layman to layman. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by Delafruita(m): 5:22pm On Nov 26, 2014 |
atlwireles:you are the one who needs an education 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by IMMUNO1(m): 6:06pm On Nov 26, 2014 |
CBN oo......Sanusi ran and sustained the banking sector without ATM service charges and the banks never collapsed. Now this one has returned it and they want to finish my money. These guys are just confused. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by jpphilips(m): 6:14pm On Nov 26, 2014 |
citizenisb: What happened to the reserves? |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by jpphilips(m): 6:18pm On Nov 26, 2014 |
BarryX: Funny enough, The PIB is as clueless as the people who drafted it, hiding behind a s! lly document to justify failure is preposterous |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by jpphilips(m): 6:20pm On Nov 26, 2014 |
Boss13: How did you come about all these? |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by HardeyBbee: 6:41pm On Nov 26, 2014 |
barcanista: Exactly, politicians are like diapers that need to be change frequently if they dont perform... we dnt have to wait 8 yrs to see if they will. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by HardeyBbee: 6:49pm On Nov 26, 2014 |
the problem I have with this administration is that they have taken corruption to a whole new level 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by BarryX(m): 6:56pm On Nov 26, 2014 |
jpphilips:Actually, the "preposterousness" of the whole situation lies in your statement. Why lampoon a document you haven't had the privilege of reading You used four insultive words in just two sentences you manage to string. Haba ma na 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by steeviee(m): 7:12pm On Nov 26, 2014 |
When the idea of the excess crude account (ECA), was conceived by Ngozi Okonjo Iweala, most of our politicians (Governors etc.) shouted her down. Though the bill has been passed by the National Assembly it is still being contested today by the governors. Now, I wonder why people are screaming GEJ, GEJ. We should direct our opinions to the myopic politicians, because the president is limited constitutionally on this issue. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by chekasforchekas: 7:12pm On Nov 26, 2014 |
sonssyo:sitting in an Ac office talking. |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by miky(m): 7:29pm On Nov 26, 2014 |
You guys should just shut the f*** Up They say the best place to hide your money from a Black Man is within books, because they are too dump to read... with Nigerians ,the case is worse, the information is already posted here, and available on the WWW, but fools are talking about gari?. Virtually every single oil producing nation is tightinging fiscal policy whether it is devaluing their currency or interest rate, except Saudi arabia, do you know what it means to have a worthless naira? devaluing the naira is inevitable except you want a worthless naira.. But it shouldn't stops there, we need increased IGR from every damn state.. Every state is a parasite on the federal government as it is.. We only feed on oil, and we wonder why we are poor? .. You have corporation that make more money than our oil makes for the entire nation in a year ( Walmart, shop rite, Apple, ibm, McDonald's, coke, Microsoft) I can go on, in fact its sad that 180 million people are just parasites and contribute nothing to productivity, instead they are talking about increase in garri, bloody Magas!! Remove the damn subsidy and even add a tax of 10% on it, if u can give your tithes to thieves called pastors with 5 jets to their name alone, you can continue to a country which your grandchildren will inherit.. 180 million parasites and you expect to feed off chicken change of 25 billion dollars from oil, and still want 1st world roads, hospitals, rail, jobs, infantructure, security, with only 25 billion in capital expenditure, GTFOH mad people!!!. 1 Like |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by miky(m): 7:41pm On Nov 26, 2014 |
deenee: Some of the dumbest comments I read I swear, they might not trust gej to do whatever he intends to, but they elected him.. Gej is too much of a punk, she should be stricter, office is not a poplulairty contest, get the damn job done and bounce, if that includeds short times of pain so be it.. How many years now?? he could have generated enough revenue, diversify this economy, remove subsidy increase IGR, cut our energy/commodity import bill, and build infrastructure.. The people don't have a clue!! they only judge the economy on garri and rice fluctuations |
Re: CBN Devalues Naira From 155 to168 , Raises Lending Rate to13% by miky(m): 7:56pm On Nov 26, 2014 |
buJu234: Sharrap!! Go search their oil export compared to ours? Compare their import bill compared to ours? Their population, and how productive they are.. I would be surprised if they had more factories/ plants/ than nigeria.. Our naira is devalued because we produce nothing more than oil, we are parasites and would die without oil, FINITO!! |
(1) (2) (3) ... (7) (8) (9) (10) (11) (12) (Reply)
What Happens To My Money If I'm Robbed In A Bank While Waiting To Deposit? / Man Sprays Bagful of Dollar Notes From Upstairs to Passers-by in Shopping Mall / Which Bank ATM Works For International Transaction
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63 |