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Should CBN Be Intervening In Forex Market? Financial Experts Speak by Adesiji77: 1:40pm On Jul 14, 2016 |
Dr. Ayo Teriba, CEO of Economic Associateshttp://punchng.com/cbn-intervening-forex-market-financial-experts-speak/ lalasticlala, dominique, Mynd44, Truth234 3 Likes 1 Share |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by brunofarad(m): 6:51am On Jul 15, 2016 |
Here to learn , Sits down with my paper and pen Let the class begin MODIFIED that dude bellow me has a 2 bedroom luxury ensuite accomodation at the hottest part of HELL ESTATE |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by herzern(m): 6:51am On Jul 15, 2016 |
The person above me may not make heaven.....he stole my spot CBN is as confused as Buhari 10 Likes
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Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by babyfaceafrica: 6:52am On Jul 15, 2016 |
Ok |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Category1: 6:53am On Jul 15, 2016 |
I personally think that the CBN should try to read the new one more information contained herein and the other use the other use the way of this message and then you are not be a bit and I can you have to be in this is the way of a few weeks and the other than the way to be able to see if we have a lot of this and that. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by emillionaire: 6:54am On Jul 15, 2016 |
saw this on his morning. Should CBN Be Intervening In The FOREX Market? |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Joyce28(f): 6:55am On Jul 15, 2016 |
Really CBN |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by donofdons: 6:55am On Jul 15, 2016 |
let CBN better not keep intervening in this forex market......buhari made me a millionaire because i borrowed 50 million naira from first bank using my fathers estate as collateral at interest rate of 10% per annum...i just changed it to about $250k at 216/$ and just waited till when buhari took over and dollars was at 375 then i changed to naira making over 39 million naira then changing it back to naira at 240 again and then back to naira at 350 making over 30 million again. Now i have converted my borrowed 50mil to over 150 mill and paid off my debt and am still left with 128 million and someone will come and tell me buhari is not great. I will die for him anyday 5 Likes |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Ngasky(m): 6:55am On Jul 15, 2016 |
Nigeria needs to set the right priority and stop the unnecessary import regime. only real manufacturers should be helped , we have 36 states and in each state the real operational companies were known by the officials so that should be the guide to import concessions. Also government should start a policy of taking over the redundant non operational companies and giving them to serious investors. this is a tough policy, right? Government should create a new tax on companies i. e. on those that are shut down or non operational. Any company that did not operate within 10 days should pay the government extra 3% of the companies real value as a tax at the end of the month. and if it is non operational for the duration of 30 days the tax should be 5% of real value apart from the normal tax they pay. if after 6 months of non operational the government should acquire the company at 50% real value and subsiquently auction it at between 60-70% of its value to other investors. on the part of the government letter of credit from central bank should be processed from these manufacturers within 48 hours of their application to buy machineries and spare parts from abroad. they dont need to go to FOREX to source for dollars, the letter of credit should not exceed 25% of company's value because of the taxation and benefits the owners will not want to fake the real value of their companies 3 Likes 2 Shares |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Pavore9: 6:57am On Jul 15, 2016 |
It shouldn't, let the market forces determine it. When more Nigerians get engaged in non-oil exports as against wholesale imports, the foreign exchange market will experience some form of stability. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by ramalot(m): 6:58am On Jul 15, 2016 |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by maximunimpact(m): 6:58am On Jul 15, 2016 |
sure |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by zizirecords(m): 7:06am On Jul 15, 2016 |
The forex market in Nigeria is a hoax. Full of criminals and speculators. The CBN will keep intervening till forever while evil bank managers sell the Forex to black market people while making it almost impossible for average people to get Forex. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Spells(m): 7:07am On Jul 15, 2016 |
Just here to learn,because at the end cbn won't give a Hoot about what I think. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Leviseed: 7:08am On Jul 15, 2016 |
Who their intervention eep? |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by bsaying(m): 7:09am On Jul 15, 2016 |
Last night i sat in my house thinking of the year 2011 when i travelled out and had to change my dollars for 156naira....mehn.......how things have changed... Will we ever get such an exchange rate again? |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by falconey(m): 7:11am On Jul 15, 2016 |
they must intervene , there is bound to be market imperfection . |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by keypad1: 7:12am On Jul 15, 2016 |
donofdons:bros please come and borrow me 1 million naira. I promise to pay back 2 Likes |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by IMASTEX: 7:12am On Jul 15, 2016 |
Here to learn from responses |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by banmee(m): 7:13am On Jul 15, 2016 |
Pavore9: It is their job to intervene. It is just that Nigeria's central bank does not know what it's doing. Every central bank in the world intervenes in it's foreign exchange. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by rusher14: 7:27am On Jul 15, 2016 |
banmee: Everyday I hear the central bank doesn't know what it is doing. What exactly do you want it to do? As long as Nigerians keep importing everything from toothbrush to Brazilian hair the value of Naira would always fall. This would sometimes need intervention from the Apex bank. Please suggest what you would have done otherwise. 3 Likes 1 Share |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Reference(m): 7:32am On Jul 15, 2016 |
You can only intervene in something you own because that is the extent to which your influenece goes. So what is the CBN's share/ownership of the forex market? |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Tuljaking(m): 7:34am On Jul 15, 2016 |
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Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by TEYA: 7:37am On Jul 15, 2016 |
Category1:What are you trying to say? You are not making sense. 1 Like |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Ademusiwa1: 7:40am On Jul 15, 2016 |
[size=28pt]all others are fake.[/size] |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Nobody: 7:48am On Jul 15, 2016 |
In a country where the only source of dollar is earn from crude export but import almost everything. How will their be equilibrium between demand and supply for the green bag since the demand outweigh the supply. CBN continue intervention will do no good until Will export more or reduce our import 2 Likes |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by Nobody: 7:51am On Jul 15, 2016 |
keypad1:You believe what he wrote up there? Lol 1 Like |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by 989900E: 8:24am On Jul 15, 2016 |
Dr. Teriba and Prof. Tella already said all what I need to hear . . . by and large though, they are all saying the same thing. 1 Like |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by banmee(m): 9:44am On Jul 15, 2016 |
rusher14: That is a dumb question to ask. You might as well ask me to splint a compound fracture. You know they don't what they are doing because the forex situation I'm Nigeria is getting worse. It is no different than when America had it's last recession and they knew what they were doing. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by aloeman15(m): 9:52am On Jul 15, 2016 |
I had to take you up on this. I've written on this before. 1. The ban on 41 items killed the naira. I was bemused at the time that very few people could see the effects. I would've given That list a ban schedule of 3-6 months, with a 30day notice on increased import tax by up to 50%. 2. What have dollars sold by the cbn since june 2016 been used for? Even the cbn doesn't know. I would've partnered with both customs and firs to set up monitoring teams to verify imports and charge the appropriate taxes on the imports up front. 3. What incentives are there from govt for those who want so build infrastructure? Hardly any. I would reward good behaviour with tax breaks, low interest loans and repayment holidays. This easily attracts interested firms and even fdi. 4. What on earth is causing the in the release of govt palliatives- 200b for smes, 350b economic stimulus, many others?! I would just tell (informally, of course) smedan, man, chambers of commerce, etc to lobby/pester their nass reps to force the issue. 5. How many msmes can access loans from commercial banks? Simply tie their msme loan books to govt contracts- you want access to contractors' mobilization fee? Then show me a full loan book to small businesses in your operating communities, confirmed by local business charters and even opposition political parties. Most of these ideas only require policy statements, without spending money and even earn money for govt through taxes. rusher14: |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by rusher14: 10:16am On Jul 15, 2016 |
banmee:I asked for a suggestion. Criticism is easy. |
Re: Should CBN Be Intervening In Forex Market? Financial Experts Speak by banmee(m): 11:04am On Jul 15, 2016 |
rusher14: I didn't want to have to say this because Nigerians hate hearing the truth but you force my hand. The problem with the forex exchange market is the same trouble that plagues the entire country. Nigeria is just too corrupt for anything to work. What you all are experiencing right now is a culmination of half a century of bad governance and worse still, bad citizenry. There is nothing that can be done unless there is a fundamental shift in the way Nigerians think and do business. A nation can never thrive when they are at a level of corruption that Nigeria is. Haven't you noticed that not one, not two, but every single facet of life in Nigeria does not function? That is not a coincidence. You all might as well sit back and enjoy the hellish ride. |
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