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Nairaland Forum / Nairaland / General / Business / CBN Cuts Bdcs’ Dollar Sales To $10,000 (25251 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 1miccza: 5:42pm On Jan 05, 2016 |
Naijainvestor: They are setting the stage for a huge fall for themselves |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Image123(m): 5:53pm On Jan 05, 2016 |
Forwetinnah:so when your sorry sef is rushed to an hospital and the doctor wants to try his best so you don't die. Is it better he doesn't make an attempt since you may die after all? 1 Like 1 Share |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by paranorman(m): 6:19pm On Jan 05, 2016 |
Tochaigh:true, demand and supply interactions should always be allowed to play, and the effect of such play is well pronounced in advanced economies of the world. Oga, mention me when your article is finally ready.. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by diva90: 6:20pm On Jan 05, 2016 |
Scarcity of bdc dollars = more inflation? 1 Like |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by tomayira(f): 6:44pm On Jan 05, 2016 |
Are you still saying helping hands is a scam? Ok o, CBN policies doesn't affect us in any way. We,re still smiling to the bank daily. Join the best ever networking biz now! Don't say had I know later, as for me I'll have my keyless Hyundai Elantra by May. Check my signature |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by modath(f): 7:11pm On Jan 05, 2016 |
Demmocrats: Travelex sells to ONLY travelers with verifiable travel docs..Not tO business people. BTW, am not a bro.. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by erico2k2(m): 7:32pm On Jan 05, 2016 |
naheem8307:U r meant to declare anything above $10 k But wait a minute why do U want to carry forex intto Nigeria? |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by erico2k2(m): 7:35pm On Jan 05, 2016 |
Demmocrats:Fidelity. WE wired my niece yesterday in the USA |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by ShowYourCertificate: 8:38pm On Jan 05, 2016 |
ibisko04:I have a PhD in a different field, however I got an A2 in Economics during my secondary school days. Buhari isn't worth the straps of my sandal. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by back2sender: 8:50pm On Jan 05, 2016 |
ShowYourCertificate:He beta pass your goatluck who plunder the country resources with the likes of father christmas sorry dasuki gate, opolo eye, indomie poof poof cheek, metuselah, fanyogo, giant card, wheel chair etc. Your Biafra KANU go rotten for jail. Hope you don collect your Biafra passport, shameless people |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by ibisko04: 9:09pm On Jan 05, 2016 |
ShowYourCertificate: Why are you feeling too high on a soaked toilet roll. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by ojay2053(m): 9:14pm On Jan 05, 2016 |
lagosrd:. My guy e dey vex, you won't understand. 1 Like |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by templeinyou(m): 9:53pm On Jan 05, 2016 |
Your Papers have no date guess is last 3yrs paper anonimi: |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by saintkash(m): 11:00pm On Jan 05, 2016 |
anonimi: hmmmm... mr man u current ooo... 70,000 graduates abi... pls give us something current instead of pages from 17th February 1985..... blinded by hatred. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by saintkash(m): 11:02pm On Jan 05, 2016 |
templeinyou:Don't mind him jor... d first page carries 17feb 1985. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Nobody: 5:41am On Jan 06, 2016 |
ShowYourCertificate: Good morning. I saw your comment. The problem simply put is that we are an oil dependent economy, and the only way we can get dollars to prop up our naira is by getting dollars from the sale of oil. Now, thanks to the fall in international oil prices, as well as the previous administration's failure to save dollars (not that it matters....and I will explain why), we do not have enough dollars to prop up the naira. And even if we had saved, that would only delay things by a year. Maybe six months. Especially as oil prices are predicted to drop for the next two years (And that's the optimists speaking. Pessimists like me see oil getting to $40 in ten years time....). It isn't only Nigeria. Angola's currency is falling, Venezuela is embarking on serious dollar hoarding (so much to the point that there are shortages of essential goods because of no dollars to import),and even the healthy Saudi Arabia (whose Finance minister was on Bloomberg last March saying that all was well)...is worried,especially as they just went through $124bn of their savings in one year. On propping up their currency among other things. And they have $600bn left. Now imagine five more years of oil staying below$40.... CBN is hoarding dollars,because if they devalue the currency.....the other alternative.....things would get much worse.Prices would go up and inflation would skyrocket. And we know how that ends. Zimbabwe. In 2000, Zimbabwe took over all their white owned farms, in the name of freedom. In the process they destroyed their ability to gain dollars to prop up their currency. As a result...they were forced to devalue their currency, and then the resulting inflation took over. Today the Zimabwean dollar is just worthless. The average Zimbabwean uses US dollars, South African Rands, and lately Chinese Yuan as the ''national currency'' Am sure you don't want that for Nigeria. I hope you understand why Buhari's economic team has to take such measures. It only remains to pressure our government to get us off resource dependency and into industrial development.....a policy which propelled China from being behind Sierra Leone in GDP in 1973, to being much higher IN 2016. The difference is clear....China used its hands. Sierra Leone kept on being resource dependent. Resource dependency is waht got us here. Getting off it could lead us to economic prosperity. The question is ....are Nigerians ready to end their love affair with resource dependency? Further reading.... A not so brief history of the fall and the fall of the Nigerian Naira. 1 Like |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by diva90: 6:39am On Jan 06, 2016 |
Are banks still selling PTA/BTA |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by blank(f): 7:29am On Jan 06, 2016 |
Naijainvestor: That is where your minister of finance steps in. She needs to put in place fiscal policies that would curb the demand for dollars. |
Re: CBN Cuts Bdcs’ Dollar Sales To $10,000 by Olaone1: 4:04pm On Jan 06, 2016 |
Naira Inches Towards 1000 Naira To A Dollar / Mastercard Card Or Visa Card: Which Nigerian Banks Offer The Cheapest And Best / My Experience With A Corporate Begger
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