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Nairaland Forum / Nairaland / General / Business / CBN Cuts Bdcs’ Dollar Sales To $10,000 (25234 Views)
CBN To Increase Dollar Sales To BDC Operators / CBN Resumes Dollar Sales To BDCs / Cbn Lifts Forex Deposit Restrictions & Also Cancels Forex Sales To BDCs (2) (3) (4)
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by lagosrd: 3:45pm On Jan 05, 2016 |
ojay2053: Lobbish |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by freethug: 3:45pm On Jan 05, 2016 |
The earlier the CBN stops dollar sales to BDCs the better. They are run by selfish and rent seeking individuals who do not care about the economy. The CBN should also look at measures of banning street traders then we will know they are serious about the fight to curb money laundering. All forex demand genuine or otherwise should be handled by the CBN or commercial banks by easing access to individuals and importers. 1 Like |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by naheem8307(m): 3:46pm On Jan 05, 2016 |
For those coming into the country, what is the maximum amount of dollars allowed to come along with ? |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Emekamex(m): 3:47pm On Jan 05, 2016 |
The CBN should devalue the God damned naira; the earlier it is done, the better for us all. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by blackmantis: 3:49pm On Jan 05, 2016 |
This is CRAZY 2 Likes |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by repogirl(f): 3:51pm On Jan 05, 2016 |
Stoooooooopid Booooooharinomics |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by repogirl(f): 3:52pm On Jan 05, 2016 |
Stoooooooopid Booooooharinomics Funny thing is they will still devalue this thing whether they like it or not. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by eluquenson(m): 3:54pm On Jan 05, 2016 |
This will eventually lead to hike in the price of Naira to USD |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Naijainvestor: 4:09pm On Jan 05, 2016 |
Not sure how much of elementary economics the monetary experts in C BN understand. They all seem to be supply side economists By restricting the sale, you are lowering supply and with increased demand, the price of the dollar will go up. There is need to manage the demand side too. The elesticity of demand for the dollar is highly in elastic almost perfectly in elastic. As long as the price of oil keeps falling and Nigerians keep going abroad for vacation, buying imported foods, etc, the Naira will keep being under pressure |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by BuddhaPalm(m): 4:15pm On Jan 05, 2016 |
mysteriousman: You could say this for EVERY past action by past governments then. That's not how works.. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by millionboi(m): 4:15pm On Jan 05, 2016 |
this what u get when the ruling party is made up of politicians like lie lie mohamed and not academians.......keep bein confused |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by njikoamaka: 4:20pm On Jan 05, 2016 |
ShowYourCertificate: Point of correction, he never ATTEMPTED Economics and Government, had Mathematics and COMMON Woodwork F9's. 1 Like |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by millionboi(m): 4:22pm On Jan 05, 2016 |
ShowYourCertificate:lol and he is beginin 2infect his cabinet with it,thy cn no longer tink straight |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by yanabasee(m): 4:37pm On Jan 05, 2016 |
Demmocrats: The general market sales on "dollar" with "Naira" is still at N260+ per $1 depending on it's parity... While the CBN pegged the dollar within Nigeria to be sold/exchanged at N199 per dollar, irrespective of it's parity.. But with a bank charge of 0.50kobo. Point is... Foreign exchange market is the general market whilst within Nigeria is the official market.. This lose/negligence is accommodated by the CBN as well as the FG and has been budgeted alongside 2016 budgets... And it'll be extracted by TAX Levy. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Nobody: 4:39pm On Jan 05, 2016 |
Naijainvestor: You're just talking a load of jargon. How possible is it to supply what you dont have in your possession? CBN has simply killed the bdcs without banning bdc activities outrightly, because they dont have the dollar to sell to them anymore. Nobody in his right mind will tie down n70m because of measly $10k per week dollar supply from cbn. 1 Like |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Demmocrats(m): 4:40pm On Jan 05, 2016 |
yanabasee: I like smart guys, bro nice analysis but you still didn't answer the question. I asked can you name the bank that charges 199. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by yanabasee(m): 4:43pm On Jan 05, 2016 |
Demmocrats: UBA, buys N199 from CBN and sale at N199.50 |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Demmocrats(m): 4:44pm On Jan 05, 2016 |
yanabasee: wow are you sure wow!!! thanks for that information let we verify. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by yanabasee(m): 4:51pm On Jan 05, 2016 |
Demmocrats: Very sure... You can get a quick response using their twitter handler. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by grandstar(m): 4:52pm On Jan 05, 2016 |
The epic economic ineptitude of this govt is worrisome. They reject sound economic advise to devalue yet the rate fell to 280! it has also refused to deregulate petrol price deceiving itself it has removed oil subsidy! I give this govt another 18months tops |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by modath(f): 4:55pm On Jan 05, 2016 |
Demmocrats: A friend just bought from Keystone a few days ago but the conditions are stringent... 1. Current acct holder not less than 6mths & with a MIN BAL of 1m maintained in the last 3mths... Got 199.5 for BTA for her & her mama with travel docs.... Even travelex is still within 205-208 band, accessing it is the headache though. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Nobody: 4:58pm On Jan 05, 2016 |
mccoy47:I guess Buhari is in the clear? |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by arabianights: 4:59pm On Jan 05, 2016 |
ShowYourCertificate: b] SINCE it did not require an economics degree to destroy Nigerian econmoy at first instance, then we dont need one to put things in order Are you that dumb to assume Buhari is the one deciding on this? Or have you no idea on the committess as well as the fact that A very intelligent capable hand by Name of Osinbanjo, chairs some of the committees? Nonsense! any child will just get on public forum and disgrace himself as well as show us the wasted investment his/her parents did[/b] |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by arabianights: 5:02pm On Jan 05, 2016 |
ziddy: Much as i agree with you but CBn didnt kill the BDc it simply cut their wings totally abi na remove their wings........ |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by sonnie10: 5:02pm On Jan 05, 2016 |
Me: Hey Mallam I have $12k to sell Mallam: Mr man where did you get the dollar from? Me: See JAMB question! Mallam: Buhari said we must know the source if the money is above $10k Me: Thunder fire Me (Waka enter another serious Mallam shop) |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Demmocrats(m): 5:07pm On Jan 05, 2016 |
modath: Bro which one travelex pls explain more wow |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by frisky2good(m): 5:12pm On Jan 05, 2016 |
Scrap? 90% of BDCs are owned by Northerners so they can never be scrapped. I am yet to see any BDC that you can enter and buy USD at 199 Naira yet they go to CBN weekly to collect it and noone questions them. akhis: |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by diva90: 5:17pm On Jan 05, 2016 |
naheem8307: $10,000 |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by ableze01(m): 5:19pm On Jan 05, 2016 |
Useless policies, as long as our past and present senators and ministers have access to change foreign currencies at will the naira wil keep dropping even if they make the dollar illegal for Nigeria citizens, rubbish |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by bezimo(m): 5:23pm On Jan 05, 2016 |
Useless Buhari and his dull economic team and policies are so clueless to basic economics. It seems there is a repeat of his dismal economic performance of 1985 when he first governed.Stupid and senile leader that is unaware of the widespread implications of his policy. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by ibisko04: 5:24pm On Jan 05, 2016 |
ShowYourCertificate: How are you faring with your phd in economics 2 Likes |
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