Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,522 members, 7,958,579 topics. Date: Wednesday, 25 September 2024 at 05:55 PM |
Nairaland Forum / Nairaland / General / Business / MTN Scraps Early Debt Payment Amid Currency Shortage (21258 Views)
Naira Shortage Forces Banks To Boycott CBN Dollar Sale / Naira Falls To 325 On Dollar Shortage -punch / Cash Shortage Hits Banks As TSA Deadline Expires (2) (3) (4)
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Ephemmm: 12:29pm On Aug 25, 2015 |
MrRobot: I wanted to blame you: but I remember that robot has no sense of independent thinking nor discretion. |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by 19naia(m): 12:33pm On Aug 25, 2015 |
Whenever currency flow is restricted, it restricts the flow of transactions and thus the flow of commerce and the movement of the economy. Restricted currency flow is equal to restricting the economy and soon the decline of commerce follows until the entire market feels a slump, devaluation of the stock markets and decline of overall economic strength of the nation. As a final result of market/economic slump, the Naira value slump follows. This is how currency restrictions have a long term effect of devaluing the Naira. I know the plan all along was to coax the Naira up by holding down the dollar, but only a test in futility, because the dollar is tied to the biggest flow of commerce in the world. Restricting the dollar restricts access to the biggest flow of commerce in the world. The solution is in manipulating production as well as quality and economy supporting infrastructure. Why buy gasoline instead of local refining? Local car production? and the list goes on for things that can lift uo the Naira without holding down the dollar. Slowly but surely. The only sure quick way to Make 1 naira equal to 1 dollar, is the full dollarization of the nigerian economy. Maybe even the british pound would work better by seeing the naira value rise above the dollar. The Naira value in Nigeria is not as important as the economic strength and stability. The naira value games being played recently are not good for the strength and stability of the economy. Most Nigerians never transact in dollars and never notice much about the naira value compared to dollars. What they do notice is when the economy takes a hit because of currency flow manipulations. One transaction of revenues is stalled and then another and another until it all accumulates into a stagnation of areas of commerce flow that gets passed down the chain to the common man who never transacted with a $ ever in his life. 1 Like |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by adconline(m): 12:43pm On Aug 25, 2015 |
Brainless folks who have never gone near BDC and Bank FX counter spewing trash and calling us wailling waillers. Even this CBN/govt rate is difficult to source. Nigerians always want to offer their uninformed opinion from their bottomless pit of ignorance. Imagine what this policy has done to the likes of Dangote and multinationals that have foreign debt portfolios.. All the FDI in $$€£ must be paid back at higher rate even when there is paucity of FX. Also GMB, increased our debt to GDP ratio by allowing profligate govs to dump their debts on FG.. Our credit rating is going to be affected and borrowers are going to call back their loan.. Massive capital flight awaits us. 1 Like |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by TheAlchemist: 12:58pm On Aug 25, 2015 |
adebayo201: ... u mean MTN will add hidden charges. .. |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by PapaOyoyo: 1:11pm On Aug 25, 2015 |
[quote author=Vstuffs post=37310721]They should do all they want....................the only important thing I need from mtn now is a reduction in data price and..also a stop to all their useless messages Dats all 1 Like |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Nobody: 7:05pm On Aug 25, 2015 |
Evaromantik:so drop gist, Wetin dey? |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by ugoezeik(m): 10:10pm On Aug 25, 2015 |
neweraomo:who released u from quarantine centre |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Evaromantik(m): 11:20pm On Aug 25, 2015 |
AdaNri1:na space all man dey book nah |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by neweraomo: 6:09am On Aug 26, 2015 |
ugoezeik:ur dad |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Nobody: 8:17am On Aug 26, 2015 |
Evaromantik:as per land in Gwarimpa |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Evaromantik(m): 8:19am On Aug 26, 2015 |
AdaNri1:pls i just observe your name.......are you my sister,am from Aguleri |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Nobody: 8:56am On Aug 26, 2015 |
Evaromantik:no I'm not from Aguleri, but certainly a town in UmuNri |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Evaromantik(m): 11:41am On Aug 26, 2015 |
AdaNri1:k |
Re: MTN Scraps Early Debt Payment Amid Currency Shortage by Nobody: 12:58pm On Aug 26, 2015 |
Evaromantik:this "k" lol |
Entrepreneurship Vs Self-employment - Knw The Differences / Lagos Assembly Orders Relocation Of Mile 12 And Owode Markets / "Success Does Not Speak English, It Speaks Money" - Reno Omokri
(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. 18 |