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Nairaland Forum / Nairaland / General / Business / FG Creating Billionaires Through Forex – Sanusi (22329 Views)
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Re: FG Creating Billionaires Through Forex – Sanusi by ephi123(f): 9:16am On Aug 25, 2016 |
oweman: This is no longer about the elections (regardless of how people voted), people are crying out loud due to the massive suffering in the land, who cares who is president if progress is being made? Sadly it is NOT. 2 Likes |
Re: FG Creating Billionaires Through Forex – Sanusi by Stanbeto: 9:16am On Aug 25, 2016 |
Ok na we are watching |
Re: FG Creating Billionaires Through Forex – Sanusi by trillville(m): 9:21am On Aug 25, 2016 |
lafuria1: We haven't. There is still about a 70 naira difference between the rates. More over, the fg must modify it's cost structure, else the naira will only continue to depreciate as time goes along. Nigeria needs structural changes to survive this currency/stagflation crisis we are in. |
Re: FG Creating Billionaires Through Forex – Sanusi by BlackMbakara1(m): 9:25am On Aug 25, 2016 |
I concur with SLS, but greed and wickedness won't allow people stop... I feel it's a cartel thing and the earlier it's checkmated, the better. 1 Like |
Re: FG Creating Billionaires Through Forex – Sanusi by Lionsclaw: 9:26am On Aug 25, 2016 |
No longer Jonathan now 'FG' lol 2 Likes |
Re: FG Creating Billionaires Through Forex – Sanusi by Mrjo(m): 9:26am On Aug 25, 2016 |
Now tell me hw many donation he had made since he left ọffice? U cant change others when ụ hav nt change urself. ooshinibos: 1 Like |
Re: FG Creating Billionaires Through Forex – Sanusi by obailala(m): 9:47am On Aug 25, 2016 |
helovesme:The disparity was never up to N5, it was typically around N2, and that was not only insignificant, it is also inevitable. So in summary, it was never an issue before 2015 when we started having large disparities. 1 Like |
Re: FG Creating Billionaires Through Forex – Sanusi by RealPhoenix(m): 9:51am On Aug 25, 2016 |
millhouse: are that small that you don't know that GEJ/PDP tried to remove subsidy but Nigerians kicked against it? |
Re: FG Creating Billionaires Through Forex – Sanusi by Fury007: 9:51am On Aug 25, 2016 |
Amitex: The massive difference is that supporters of Buhari are quite objective when crunch time comes, but the so-called wailers are just sore losers that haven't stopped sobbing, they seem forever embittered and without any common sense. 1 Like |
Re: FG Creating Billionaires Through Forex – Sanusi by JABB(m): 10:06am On Aug 25, 2016 |
This is also Sad |
Re: FG Creating Billionaires Through Forex – Sanusi by newbornmacho(m): 10:18am On Aug 25, 2016 |
Gloriagee:Thanks love |
Re: FG Creating Billionaires Through Forex – Sanusi by bellyjean(m): 10:23am On Aug 25, 2016 |
Mrjo: I subtly alluded to agriculture in my post. Agriculture is just one out of over a hundred sectors that contribute to an economy. Mr Oga, an advancing economy is a multifarious one. Look, with a population of 170m plus, who says there is no labour? There is this warped mentality that subtly crept into Nigerians during the 1970s oil boom which made us think oil is the only way. Of course there is always a major source of earning for a developing economy like ours What i'm saying is oil earnings may not be enough to drive the needed expansion of our economy (since oilprice is not encouraging anymore). When it was booming, we didn't use it to develop other parts of the economy. So whatelse can we resort to? Of course it is Agriculture Yes Agriculture on a large scale like the one we should embark on is labour intensive. Not even real estate, hospitality and tourism, education, automobile industry etc can drive an economy on their own. They are derivatives of a much stronger driving force (the one that generates far greater earnings) e.g oil and gas, agriculture. |
Re: FG Creating Billionaires Through Forex – Sanusi by porka: 10:24am On Aug 25, 2016 |
Coming from a guy who RESISTED the IMF's suggestions about 'defending' the naira and substantially 'depleted' Nigeria’s foreign reserve defending the naira. 1) IMF Proposes Devaluation Of Naira - 2011 http://www.thisdaylive.com/articles/imf-proposes-devaluation-of-naira/86434/ https://www.nairaland.com/607357/imf-proposes-devaluation-naira 2) The wrong way to defend the Naira - Vanguard (2011) http://www.vanguardngr.com/2011/04/the-wrong-way-to-defend-the-naira/ 3) Nigeria: CBN Dismisses IMF Advice for Naira Devaluation - 2011 http://allafrica.com/stories/201102220843.html |
Re: FG Creating Billionaires Through Forex – Sanusi by Enrichlee(m): 10:24am On Aug 25, 2016 |
Sibrah:It wasn't exactly like this then. The parallel market didn't become something this widespread until buharinomics set in |
Re: FG Creating Billionaires Through Forex – Sanusi by porka: 10:27am On Aug 25, 2016 |
Fury007: Playing to the gallery is not objectivity. It's comical at best and foolishness at worst. |
Re: FG Creating Billionaires Through Forex – Sanusi by Enrichlee(m): 10:28am On Aug 25, 2016 |
lafuria1:Seriously! Do u know for how long the current administration pegged the dollar at 197 at the expense of the masses. Are u now saying parallel market no longer exists or how exactly have we moved on? |
Re: FG Creating Billionaires Through Forex – Sanusi by Mrjo(m): 10:39am On Aug 25, 2016 |
If i said there no labour dont misunderstand it eg: we hav people in idp camps that the govt. can use to do the labour, so many people out there that ar jobless dont see it as some thing they can do, if we want to suvive everybody we be encorage to do what the person knws hw to do best. bellyjean: |
Re: FG Creating Billionaires Through Forex – Sanusi by lafuria1(m): 11:02am On Aug 25, 2016 |
Enrichlee:The interview SLS was just yesterday, two months after we abandoned the fixed exchange policy. The black market still remain, we've moved on because no one can buy dollars from CBN at any fixed rate, besides CBN sells to bank base on bidding, can't you see the inter bank rate changes just like the parallel market. SLS himself can't buy dollars from CBN anymore and any fixed rate, he will have to call banks to negotiate. I've been to first Bank and see people buy dollars and what ever rate banks sell which is different from the parallel market rate, some banks like GTB sell at parallel market rate, it's a free market now. This things happen, you will always have black market for anything, there was black market for Rio Olympics ticket. SLS is saying, why sell at a fixed rate and enrich this black marketers (parallel market) who will sell at a greedy price. So CBN decided to float the naira (non fixed), reason I said we've moved on. |
Re: FG Creating Billionaires Through Forex – Sanusi by maazikc: 11:05am On Aug 25, 2016 |
This man has said it all |
Re: FG Creating Billionaires Through Forex – Sanusi by adegeye38(m): 11:08am On Aug 25, 2016 |
bellyjean:Spot on, d problem is greed and corruption on all Levels |
Re: FG Creating Billionaires Through Forex – Sanusi by bayulll011(m): 11:11am On Aug 25, 2016 |
bellyjean: Bros God bless you jawee,African don't dreams,nice pieces your follower just increased |
Re: FG Creating Billionaires Through Forex – Sanusi by Sibrah: 11:25am On Aug 25, 2016 |
Enrichlee:parallel market helped the situation. |
Re: FG Creating Billionaires Through Forex – Sanusi by teebillz: 11:29am On Aug 25, 2016 |
saintkel: The Igbos must not be right I guess. |
Re: FG Creating Billionaires Through Forex – Sanusi by adconline(m): 11:29am On Aug 25, 2016 |
lafuria1:No we haven't completely moved on cos CBN intervention still allows well connected folks to get dollars at govt rate which is lower than floating rate. |
Re: FG Creating Billionaires Through Forex – Sanusi by lafuria1(m): 12:12pm On Aug 25, 2016 |
adconline:There is nothing like government rate anymore, this is fact. It's illegal for CBN to sell to individuals or companies unlike before. CBN is not intervening, it's simply selling to banks, the idea is for the banks and other big companies to sell within each other. When little or no sales is going in, CBN enters the market and sell not at a fixed rate but negotiated rate, bidding process. The likes of dangote will have to buy from the banks at a negotiated prices, banks buy from CBN say at 320, banks decides to sell at 360 to 400 depending on who the customer is,. |
Re: FG Creating Billionaires Through Forex – Sanusi by Fury007: 12:15pm On Aug 25, 2016 |
[quote author=porka post=48785147] Common sense is not really common anymore. |
Re: FG Creating Billionaires Through Forex – Sanusi by Fury007: 12:16pm On Aug 25, 2016 |
porka: Is crunch time playing to the gallery in your self-conceited intelligentsia grandeur??! There is time for everything, you don't condemn a football team in it's a entirety at the 15th minute and think you are making sense. Buhari haters, aka wailers, started condemning before the blast of the whistle. My grandpa-frown-mode activated. |
Re: FG Creating Billionaires Through Forex – Sanusi by porka: 1:12pm On Aug 25, 2016 |
lafuria1: Move on to where? Why don't you just keep silent on things you don't know. He said he could pick his phone and use his connections to get forex at the 'official' rates, and make huge returns on arbitrage. They didn't entirely 'float'. The CBN policy on its so-called 'floating exchange regime' says they would still keep the official rates for 'special purpose'. And you are here talking about moving on. Have you asked yourself why the 'official rates' are still being operated? Who told you that you can't get forex from the CBN directly? Were you in Pluto when forex was sold to people going on Hajj at the 'official rate'? Do you know how many of this 'Hajj' type of transactions they do on daily basis? The problem with you guys is over assumption. You do not know what goes on or you assume what you know is the whole story. |
Re: FG Creating Billionaires Through Forex – Sanusi by Dynamitehimself(m): 1:38pm On Aug 25, 2016 |
This guy is so right |
Re: FG Creating Billionaires Through Forex – Sanusi by porka: 1:38pm On Aug 25, 2016 |
Fury007: Only the deep can call to the deep. You cannot eat your cake and have it, as they say. You can't field a 99th eleven team and expect a brilliant performance even if the playtime is extended till the following day. You can't match a mediocre village team from Tahiti against Brazil's national team and expect any good thing from the former. That's stupidity. Only gamblers, 'money doublers' and ritualists avoid intelligent analysis in their 'business' and expect good return on investment. Only 'miracle seekers' base their lives' decisions on some mumbo-jumbo. |
Re: FG Creating Billionaires Through Forex – Sanusi by Fury007: 7:54pm On Aug 25, 2016 |
porka: Okay. Suggest your winning team as a way forward. |
Re: FG Creating Billionaires Through Forex – Sanusi by mikolo80: 1:07am On Aug 26, 2016 |
DAramis:the current cbn gwamna is knowledgeable. He just rather be a billionaire d than fix the forex |
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