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Nairaland Forum / Nairaland / General / Business / CBN Adopts Flexible Exchange Rate Policy (39476 Views)
Exchange Rate As Of Today / Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate / Today's Naira Exchange Rate (2) (3) (4)
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Re: CBN Adopts Flexible Exchange Rate Policy by alvan06(m): 6:40pm On May 24, 2016 |
Clueless government what could have been done a long time ago 2 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by showreals(m): 6:41pm On May 24, 2016 |
Devalued 1 Like |
Re: CBN Adopts Flexible Exchange Rate Policy by maadman: 6:41pm On May 24, 2016 |
I blame GEJ.. He removed SLS and appointed an inexperienced Emefiele from a "small" profit (not economically) driven bank. Emefilele also supervised the biggest looting of the Nigerian treasury in Nigeria's history.. 6 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by moffat(m): 6:42pm On May 24, 2016 |
PMB/PYO & APC should cover their face in shame, this is wat we experience wen a certificate-less is ruling gullible follower 1 Like |
Re: CBN Adopts Flexible Exchange Rate Policy by ozimaama(f): 6:42pm On May 24, 2016 |
May it be a solution o |
Re: CBN Adopts Flexible Exchange Rate Policy by Deen77: 6:43pm On May 24, 2016 |
beejaay: Let see if it will work?, but the problem is we can't meet our import demand of dollar. Crude Oil crash affect all Oil producing nations, Nigeria includes. Nigeria is worst for importing petroleum an essential commodities consume millions of dollar to finance. Buhari should just look for a way to stop importing petroleum products. See Nigeria, no reserved for survival by Deutsche bank. 5 Likes 3 Shares
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Re: CBN Adopts Flexible Exchange Rate Policy by Sanchase: 6:44pm On May 24, 2016 |
How can Buhari who knows nothing about Economics lead a country like Nigeria, economists make errors sometimes but when you put someone with no knowledge of economics, taking charge of a country that is purely suicide. Nigeria is suicidal. 3 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by KINGOFJAPAN: 6:46pm On May 24, 2016 |
You were right afterall @14 |
Re: CBN Adopts Flexible Exchange Rate Policy by Nobody: 6:46pm On May 24, 2016 |
beejaay:so devaluation will? |
Re: CBN Adopts Flexible Exchange Rate Policy by Adminisher: 6:51pm On May 24, 2016 |
Mixty:**** You are also grossly inexperienced in anything. What the government is doing is called strategic agility. The oil market has crashed, that is a static reality but there are other constantly changing events like the quantity of oil we are actually selling, the price of the fuel we are importing , the weak exports etc. C. Everything is constantly changing and very fast. Under those conditions you just don't sit tight, besides the MPC and exchange rates are CBN issues that the FG usually does not interfere with. 3 Likes 2 Shares |
Re: CBN Adopts Flexible Exchange Rate Policy by emmanuelgon: 6:52pm On May 24, 2016 |
good one, hope it works |
Re: CBN Adopts Flexible Exchange Rate Policy by mesoprogress(m): 6:55pm On May 24, 2016 |
No matter how painful it is, flexible exchange rate is the best option. Though it came very late. |
Re: CBN Adopts Flexible Exchange Rate Policy by pacino26(m): 6:58pm On May 24, 2016 |
This is the result of employing incompetent persons into the apex bank because of their surnames. What happened to financial intelligence. |
Re: CBN Adopts Flexible Exchange Rate Policy by OlujobaSamuel: 6:59pm On May 24, 2016 |
Ultimus:till we have the guidelines, we can't really talk about the pros n cons. remember the subsidy was removed but not remove palava? |
Re: CBN Adopts Flexible Exchange Rate Policy by Truth234(m): 7:01pm On May 24, 2016 |
franciskaine: Once it is a function of the market, its devalued but with a unique name. It means CBN are tired of paying for the difference of the fixed rate, and now they want the market determine exchange rate. 2 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by macherie1: 7:01pm On May 24, 2016 |
Emefiele is not an Economist. The man studied finance. Buhari should appoint a sound economist because that is what CBN needs right now. CBN governor job is an economist's job not a finance expert. To the poster below, the real illiterate is the one who thinks his situation is hopeless. Check the course studied by governors of central banks of countries that have their acts together. Federal Reserve of US, Bank of England, European central bank system, all and their predecessors studied Economics. Making the econony work isn't rocket science. Just put the pegs where they belong. You can't ask the bricklayer to do a carpenter's job and expect the same result. 6 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by ibedun: 7:01pm On May 24, 2016 |
macherie1: Listen to this illiterate. Your country produces nothing but imports everything based on oil price. Now that the price of oil is down what magic do you expect from the government? No amount of policy (left, right or centre can change anything, you get it? 5 Likes 1 Share |
Re: CBN Adopts Flexible Exchange Rate Policy by crazygod(m): 7:02pm On May 24, 2016 |
Can't they use Zimbabwe as case study? I doubt Nigerians will be able to adapt to the end result of this 1 Like |
Re: CBN Adopts Flexible Exchange Rate Policy by teemy(m): 7:02pm On May 24, 2016 |
this stage in the economy should not have been when employment would be based on political affiliations. doing so would mean the best of brains would not be the policy makers which we so much need now. |
Re: CBN Adopts Flexible Exchange Rate Policy by GWMI(m): 7:03pm On May 24, 2016 |
Nigeria under Buhari is like an hell hole only God will help us.You are backing down now after so much damage have done.Shame on you APC leaders and supporters you are the most wicked set of Nigerians.Thanks. 4 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by Nobody: 7:05pm On May 24, 2016 |
Truth234:devaluation has neva helped Nigeria economically, not even now. We are gonna be worse off. |
Re: CBN Adopts Flexible Exchange Rate Policy by mynduu44: 7:06pm On May 24, 2016 |
With this, The dollar would certainly sell for 1000 before the year end.. Buhari is working, Nigerians re suffering..m |
Re: CBN Adopts Flexible Exchange Rate Policy by ngoziama: 7:08pm On May 24, 2016 |
Re: CBN Adopts Flexible Exchange Rate Policy by ebiboy2(m): 7:11pm On May 24, 2016 |
I would not have quickly concluded that this is a very bad move had PMB not been in power. Pa Mohammadu Buhari has no clue about what it means to be the president of a country. we have had enough of this incompetence. the sooner we call for this man's resignation, the better for us all. 4 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by king1234: 7:13pm On May 24, 2016 |
bloomberg article which covers the story http://www.bloomberg.com/news/articles/2016-05-24/nigeria-central-bank-to-allow-greater-flexibility-in-fx-market 1 Like |
Re: CBN Adopts Flexible Exchange Rate Policy by wayitis: 7:13pm On May 24, 2016 |
[quote author=freeze001 post=45933004]They obviously weren't paying attention when the classes about stitches and time were taught. Best to wait at least 3 days to confirm the authenticity of this report as this govt is known for its denials. [/quote Oh, how I like this post. This govt is known for its denials. 1 Like |
Re: CBN Adopts Flexible Exchange Rate Policy by Nobody: 7:13pm On May 24, 2016 |
I think top managerial positions in the CBN should be peopled by sound economists. 2 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by valuedammy(m): 7:16pm On May 24, 2016 |
looseweight:So the CBN governor has a NEPA bill as certificate. Buhari why do u appoint a man with NEPA bill certificate to be the CBN governor? |
Re: CBN Adopts Flexible Exchange Rate Policy by chyket(m): 7:16pm On May 24, 2016 |
This is indirect devaluation!!!!! 3 Likes |
Re: CBN Adopts Flexible Exchange Rate Policy by repogirl(f): 7:17pm On May 24, 2016 |
Smh! After they have destroyed everything. As if they didn't know they would eventually give in. What thriving economy isn't driven by supply and demand? Gosh! --------------------------- ebiboy2:I am so with you on this. The man is driving this country into the ground and very quickly too. 3 Likes 1 Share |
Re: CBN Adopts Flexible Exchange Rate Policy by nastyesco(m): 7:18pm On May 24, 2016 |
I can read so many comments..BT it's obvious this ignorant ppl just want to comment..they have no idea of what this policy means. I have no idea and waiting for someone to shed more light for me 1 Like |
Re: CBN Adopts Flexible Exchange Rate Policy by blackpanda: 7:21pm On May 24, 2016 |
beejaay: You have not said anything. How were they not thinking?? Una can just like to nag sha |
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