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Nairaland Forum / Nairaland / General / Business / CBN To Banks: Sell Forex To BDCs - Nairametrics (23727 Views)
CBN Suspends 19 Banks From Forex Sale To BDCs / Travelex To Commence Sales Of Forex To Bdcs Today / CBN Resumes Dollar Sales To BDCs (2) (3) (4)
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by Mamog(m): 12:05pm On Jul 23, 2016 |
Even if u bring the combination of Ben Bernanke,Janet Yellen, Charles Soludo, Joseph Sanusi, Emir Sanusi, Mark Carney, Jean-Claude Trichet, the current heads of both IMF and World bank to manage Nigerian CBN they will still struggle to succeed because the problem is not with the CBN management but president Buhari himself. He stated some time ago that experts have not been able to convince him on the need to 'murder the naira'. This statement of his shows he is fully in charge of the monetary policies what I don't understand is why Emefiele has not yet resigned. designking: 2 Likes |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by laurel500(m): 12:08pm On Jul 23, 2016 |
DickDastardly: It's not really trial and error... It's reality. When u take an action there's always a reaction and here in Nigeria greed will always be there... It's a simple plan but the treasury staffs will want to make money thereby killing the effort to salvage the situation. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by plaetton: 12:17pm On Jul 23, 2016 |
This is not only hilarious, but very very sad. So, in less than a month, the CBN is harpooning the much celebrated forex policies that it announced just about a month ago ? Isn't this schizophrenia? So, we are stuck with a dual exchange rate monetary policy till eternity? The same exchange rate policy that encourages corruption at every level, that robs the public to pad the coffers of the banks? |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by plaetton: 12:27pm On Jul 23, 2016 |
Physicist:You hit the nail right on the head. It's a parasitic existence. Did you notice that it was Soludo that made it possible for Western Union and MoneyGram recipients to receive their remittances in foreign currency? And guess who reversed that policy in favour of First Bank? The current Emir of Kano, Sanusi. You can see that these two previous CBN governors had different worldviews. Everything in Nigeria is built on a foundation of Fraud. That is the problem. That is we keep going in a merry-go-round. 1 Like 1 Share |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by Nobody: 12:54pm On Jul 23, 2016 |
kayo80:Pls tell them, but that should be told to Nigerians mainly, not the government, am surprised that all these phone importers have not figured out how to bring the Chinese phone factories to Nigeria . 1 Like |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by omooba2015(m): 1:30pm On Jul 23, 2016 |
Adesiji77:Hope to they will implement it in time.. We are in Big in Big Economy melt down now... |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by classical15(m): 1:59pm On Jul 23, 2016 |
It's official! Godwin Emefiele or whatever name he goes by, is a failed dumb as$. His policies ain't working at all! Its high time we staged a protest asking him to take a bow and leave. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by vivaciousvivi(f): 2:08pm On Jul 23, 2016 |
DickDastardly:Real trial and error. One wonders if Emefiele actually has banking experience sometimes |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by orangutan: 2:50pm On Jul 23, 2016 |
Where is Prof Chukuma Soludo? |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by Toks2008(m): 2:51pm On Jul 23, 2016 |
hopeforcharles: Honestly I think the CBN governor should be sacked and the finance minister removed. There is a kindergarten solution to all these madness... Allow fx buyers to have access to Chinese yuan and watch demands for dollars drop like a pack of cards thereby jerking up the value of naira against £,$ and €. Simple logic. Apparently the CBN and FG are benefitting from this crinkum crankum. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by hopeforcharles(m): 3:44pm On Jul 23, 2016 |
Toks2008:I have thought about this naira drop and I think that what causes all this increment is the demands, the logic is simple= reduce the demand by introducing the Yaun and watch it fall, most of our imports are from China, this is the right thing to do, Infact this people in power angers me. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by Paulezeh: 4:13pm On Jul 23, 2016 |
Can cbn do the disbursement of this money by themself. We know what happened last time in autonomous.Banks staffs will instruct you to pay 2 naira or no quota for you. This encourages corruptions and high rates among Bdcs. I'm in the business and I know what I'm saying. Buhari please,instruct cbn to do the disbursement which is sane than that of bank. You come and take your quota and go and render returns. Let the kyc be strictly adhered with or else you stop this business of bdcs. Let us find something else to do. With this measure,forex will go down and everybody will always get his weekly quota. The moment you know that you are going to get your quota next, you will endeavour to sell your quota quickly and this in turn will bring the price down. Bdcs are the only machinery through which price of forex will be brought down. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by mansmith(m): 5:36pm On Jul 23, 2016 |
Adesiji77:Zombies, crazy folks trying to cure madness. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by mansmith(m): 5:36pm On Jul 23, 2016 |
Adesiji77:Zombies, crazy folks trying to cure madness.Change my foot. |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by desy24444(m): 5:39pm On Jul 23, 2016 |
Who e epp? |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by SeanDada1(m): 7:06pm On Jul 23, 2016 |
Buhari, Aisha, Northern Elites mopping up funds via BDC to rig 2019 elections. Believe you me!!!! |
Re: CBN To Banks: Sell Forex To BDCs - Nairametrics by Midazman(m): 7:52pm On Jul 23, 2016 |
Nigeria economy has defiled all known theories of economics..hence,govt has resorted to trial n error.It is well 1 Like |
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