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Nairaland Forum / Nairaland / General / Politics / CBN Has No Option But To Devalue The Naira – S&P (22190 Views)
I Was Overthrown In 1984 For Refusing To Devalue The Naira – Buhari / Nigeria Has No Other Option But To Borrow, Says Adeosun / US To Press Nigeria To Devalue Naira - Reuters (2) (3) (4)
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CBN Has No Option But To Devalue The Naira – S&P by Juxtified(m): 1:32am On Jul 16, 2015 |
The Central Bank of Nigeria will have to devalue the naira at some stage, possibly by more than 15 per cent, global ratings agency, Standard & Poor’s, has said.SOURCE: http://www.punchng.com/business/money/cbn-has-no-option-but-to-devalue-naira-sp/ |
Re: CBN Has No Option But To Devalue The Naira – S&P by babajero(m): 1:53am On Jul 16, 2015 |
With buhari as president Nigeria will soon go back to trade and barter, stone age things 40 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by ChinoJeff: 1:44pm On Jul 16, 2015 |
Q1... Can this be the changes we have been expecting? Q2... Does it mean that the APC were juz clamouring change as a their slogan witout proper plans to effect it? Q3... Can Nigeria maintain her integrity as Africa's no.1 economy under this regime? God help Nigeria as I dont kno who to call clueless president now between Buhari and Goodluck. 34 Likes 3 Shares |
Re: CBN Has No Option But To Devalue The Naira – S&P by ayusco85(m): 6:37pm On Jul 16, 2015 |
Devalue it o. if it will make our economy better 1 Like 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by fitzmayowa: 6:37pm On Jul 16, 2015 |
The rate at which naira is going down it will soon discover oil...SMH 60 Likes 3 Shares |
Re: CBN Has No Option But To Devalue The Naira – S&P by datguru: 6:37pm On Jul 16, 2015 |
In the next two years dollar would get to 350 NGN 3 Likes |
Re: CBN Has No Option But To Devalue The Naira – S&P by Nobody: 6:37pm On Jul 16, 2015 |
Truth! Look...Nigerians....we have no option. All these years when we should have gotten off oil...we spent on over-importation of things we could manufacture. The era of oil imports is over. Nigerians....please kindly tell your governors and PMB to develop our industries. And by the way....if transformation worked....we would not have been here! 14 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by Nobody: 6:37pm On Jul 16, 2015 |
buhari is a failure wish i can retrieve my votes and dat of my siblings casted for this recycled dude sweet jesus 18 Likes |
Re: CBN Has No Option But To Devalue The Naira – S&P by iykejohn(m): 6:38pm On Jul 16, 2015 |
we poor man na him go sufa ham... 1 Like 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by activelyA(f): 6:38pm On Jul 16, 2015 |
M |
Re: CBN Has No Option But To Devalue The Naira – S&P by Kolade9(m): 6:38pm On Jul 16, 2015 |
Y'all Vote a Nairalander "Blaqbonez" He Made The Vector's KING_KONG Competition Top10 List... http://notjustok.com/2015/07/15/king-kong-rap-contest-top-10-finalists-released-voting-starts-now/ Its Easy To Vote! Won't Take Your Time... |
Re: CBN Has No Option But To Devalue The Naira – S&P by Nobody: 6:38pm On Jul 16, 2015 |
babajero: wen i talk say sugar still dey some nigerians 4 brain una go say na lie my brother God bless u go open ministry u see and envisage beyond T.B Joshua 2 Likes |
Re: CBN Has No Option But To Devalue The Naira – S&P by chesterlee(m): 6:38pm On Jul 16, 2015 |
The ZOO must fall!!!!!!!! 3 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by Spells(m): 6:38pm On Jul 16, 2015 |
Hmm.... CBN naija currency deserves bera 1 Like |
Re: CBN Has No Option But To Devalue The Naira – S&P by LhoLar01: 6:39pm On Jul 16, 2015 |
When will #1 equal $1? 12 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by butterflyy(f): 6:39pm On Jul 16, 2015 |
Another Naira story. Well Naira sorry |
Re: CBN Has No Option But To Devalue The Naira – S&P by grandstar(m): 6:39pm On Jul 16, 2015 |
As they have said, a devaluation is inevitable! That is the truth. The disparity will simply encourage round tripping which simply blesses the connected. The problem with central banking is that the position needs someone knowledgeable in both banking and economics. The present governor seems only good in banking hence the nonsense we are seeing. Any disparity above 3% in the rate between the official and parallel rate is not acceptable as it leads to round tipping and all kinds of shady deals. 6 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by tunwumi: 6:39pm On Jul 16, 2015 |
Never. All this is called market manipulation to rush gullible Nigerian to demand and buy expensive dollars hoping to devalued naira and make money but the opposite happens and the will loose big money. |
Re: CBN Has No Option But To Devalue The Naira – S&P by Mogidi: 6:39pm On Jul 16, 2015 |
Any one still waiting for N1-$1? [size=18pt]NTORRRRRR!!![/size] 14 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by Nobody: 6:39pm On Jul 16, 2015 |
This is what I call..... #1 to $1......APC how market Buhari scamming South West and northerners since 1914 12 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by Aitee1: 6:40pm On Jul 16, 2015 |
Re: CBN Has No Option But To Devalue The Naira – S&P by socialmediaman: 6:40pm On Jul 16, 2015 |
Read Carefully and Understand why all this is happening Exchange rate doesn't just get devalued because of what happened today, it is as a result of what happened yesterday. Buhari's government hasn't done anything that warrants devaluation of our currency. Observe that the report said the devaluation has been long overdue, they were probably waiting for GEJ to win the election before they told us the truth about how bad things had become, hope you didn't forget when GEJ told workers on May Day to prepare for hard times. During the Global Economic crisis of 2008-2009, Yar'Adua had saved up to $62 billion dollars from the $43 billion OBJ left in the Foreign reserve before leaving office, the CBN used some of this to cushion the effects of the economic crunch... Fast forward to the time of GEJ, Nigeria started witnessing oil boom again, GEJ couldn't save anything in the foreign reserve, he rather depleted it to an all time low of $29 billion dollars, he could not even invest the money he didn't save into the economy, not even after causing hardship on Nigerians after increasing the price of petrol, remember it was this same period that he started wasting 2 trillion naira on subsidy thieves, apart from that his government started granting fraudulent import waivers that caused Nigeria a loss of over $20 billion dollars, not to mention that his government through the NNPC mismanaged at least N3.8 trillion of Nigeria's revenue, it was all Jamboree. The most annoying part was that out of all these trillions, he could only afford to spend only N15 billion naira on Youwin project to create few jobs for the very youths who stood by him all through his jamboree government, but he was paying over 2 trillion to cabals who even abandoned him after he lost election. Even with the oil price crumble, almost empty Federation account and only $29 billion in foreign reserve, Buhari was able to save $700 million in just 1 month to shore up our foreign reserve as a matter of urgency so that we won't be faced with hardship with the rising dollar, oil price fall and inflation. Let's call a spade a spade, we are the ones who will suffer the financial crisis created by GEJ, we must support Buhari to recover all our money from GEJ and his cronies, they didn't steal money for us, thy stole for themselves and their families while we fight on their behalf, we must ask them to return our money. Leave only those who are being paid to support them them to do thier jobs, do not join them, let's all work together and put them to shame! Source for the missing money I wrote about regarding the fraudulent import waivers and NNPC mismanagement can be seen from my previous article: https://www.nairaland.com/2453849/call-action-agents-doom-set 33 Likes 9 Shares |
Re: CBN Has No Option But To Devalue The Naira – S&P by Nobody: 6:40pm On Jul 16, 2015 |
ChinoJeff: Your hero GEJ is partly responsible. Power was still badly developed, and Ajaokuta is nowhere near functioning. Infact...was APC in charge for 16 years...when PDP Ministers like Nebo were telling us we would have sorted out our power problems by this time last year....only to tell us that they lied when the time came.? Stop blaming APC for PDP's mess.You can tell APC that oil dependency is no longer welcome. 5 Likes |
Re: CBN Has No Option But To Devalue The Naira – S&P by Nobody: 6:41pm On Jul 16, 2015 |
Better! 1 Like |
Re: CBN Has No Option But To Devalue The Naira – S&P by fitzmayowa: 6:41pm On Jul 16, 2015 |
datguru: At this rate the a dollar might be going for 500 NGN before the end of the year... The naira is becoming worthless day by day and someone claims 'he knows what he is doing'...SMH 3 Likes 1 Share |
Re: CBN Has No Option But To Devalue The Naira – S&P by Buchukwu: 6:41pm On Jul 16, 2015 |
Buhari is working. Sai buhari |
Re: CBN Has No Option But To Devalue The Naira – S&P by klens(m): 6:41pm On Jul 16, 2015 |
This is really affecting online importers. Imagine buying goods worth 10000$ 1 Like |
Re: CBN Has No Option But To Devalue The Naira – S&P by Damscrob(m): 6:41pm On Jul 16, 2015 |
na wa o.....Devaluation of currency!!!!!...jeez |
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