As a result the parallel market exchange rate dropped from N391 per dollar to N389 per dollar. Confirming this to Vanguard, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Gwadabe said that BDCs have already paid to purchase another $20,000 from the CBN which would be delivered today, expressing optimism that the supply will further enhance the appreciation of the naira against the dollar.

Meanwhile, the CBN said that banks and other authorized dealers have again failed to fully subscribe to the $150 million it offered yesterday. It stated that the dealers could only pick the sum of $43.5 million, which represents 29 per cent of the $150 million offered for subscription in the wholesale segment of the foreign exchange market.

Confirming this development, the apex Bank’s spokesman, Isaac Okorafor, reaffirmed the Bank’s position to sustain the intervention with a view to making foreign exchange available for all genuine transactions eligible for foreign exchange through the CBN window.

Mr. Okorafor also allayed the fear over the dwindling subscription by authorized dealers noting that the development merely goes to confirm the extent of liquidity in the foreign exchange market and the determination of the CBN to sustain the intervention aimed at ensuring stability in the market.

Read more at: http://www.vanguardngr.com/2017/05/naira-rises-n389-banks-buy-29-cbns-dollar-offer/

Banks are no longer interested in forex, hahaha.

I understand some banks were sanctioned for playing against the rules.

No longer business-as-usual.

God bless PMB
God bless VPYO
God bless Godwin Emefiele
God bless patriotic Nigerians
Long live The Fed Rep of Nigeria.

LionDeLeo:
Banks are no longer interested in forex, hahaha.

I understand some banks were sanctioned for playing against the rules.

No longer business-as-usual.

God bless PMB
God bless VPYO
God bless Godwin Emefiele
God bless patriotic Nigerians
Long live The Fed Rep of Nigeria.

Nigeria is like a White man's dead body, if you carry it up is not good, If you carry it down its not good too. All these blames should go to Lugard for coming to Africa.

Good

They said the darkest place is beside the candle, I believe removing the ban placed on card will improve the fate of our Naira, Coz little biz sourcing forex from the parallel market can used their cards there reducing the pressure on the parallel market, it will also ease the forex tension. They can control our spending by limiting daily transactions. Well what did I know, just my opinion tho

RealLordZeus:
They said the darkest place is beside the candle, I believe removing the ban placed on card will improve the fate of our Naira, Coz little biz sourcing forex from the parallel market can used their cards there reducing the pressure on the parallel market, it will also ease the forex tension. They can control our spending by limiting daily transactions. Well what did I know, just my opinion tho

You are very right, I dont know why They cant employ fresh graduate to work out these issues..... I tire for Nigeria Matter....

This is good news......



But the price of commodity is still high in the market.


Until that is reduced....... I will just sitdown look

Lalasticlala......see news ooooooooo

Shior.

let's just hope and pray for a better Nigeria

want this thing to go back to 500 ,cos there is still no diffrence in Market price

I don't really giv a fvck make I go fry my akamu

Same old, Same old. Sips Goko cleanser

Anybody dat celebrate here is a zombie
It's just falling and rising
Ordinary Ghana.......deir currency is better dan ours

G

LionDeLeo:
Banks are no longer interested in forex, hahaha.

I understand some banks were sanctioned for playing against the rules.

No longer business-as-usual. Be

God bless PMB
God bless VPYO
God bless Godwin Emefiele
God bless patriotic Nigerians
Long live The Fed Rep of Nigeria.

God bless you and your family

But price of commodities keep increasing I no longer trust the Nigerian media, always misleading people. This week, I read that Shekau was injured in an airstrike, next week, it would be "military pursued Shekau for 5 hours, he sustained injuries".

Different lies are told everyday to placate our anger!

Abeg make i hear word .........you dey disturb my ear

https://www.youtube.com/watch?v=rckwtpGKZC8

Kai! Aboki

NIGERIANS N HYPOCRISY. UNDER GEJ, NAIRA WAS 150, BUT DEY CRUCIFIED HIM. UNDER BUHARI, IT'S $1TO 389, DEY SAY BUHARI IS WORKING.

I wonder why people love to celebrate mediocrity. Please, what difference therein is between 391&389? This is pathetic... When you're tired, you will do the necessary things meant to bring the exchange rate down, and not this artificial nonsense.

Naira have seen ups and downs like an elevator. Some Nigerians are hypocrites, when it was 150naira they blamed GEJ and cursed him. Now its 389naira they say Buhari is working. I just don't get it

naira just dey rise and fall anyhow... May God save Nigeria!!

Flashmove:
As a result the parallel market exchange rate dropped from N391 per dollar to N389 per dollar. Confirming this to Vanguard, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Gwadabe said that BDCs have already paid to purchase another $20,000 from the CBN which would be delivered today, expressing optimism that the supply will further enhance the appreciation of the naira against the dollar.

Meanwhile, the CBN said that banks and other authorized dealers have again failed to fully subscribe to the $150 million it offered yesterday. It stated that the dealers could only pick the sum of $43.5 million, which represents 29 per cent of the $150 million offered for subscription in the wholesale segment of the foreign exchange market.

Confirming this development, the apex Bank’s spokesman, Isaac Okorafor, reaffirmed the Bank’s position to sustain the intervention with a view to making foreign exchange available for all genuine transactions eligible for foreign exchange through the CBN window.

Mr. Okorafor also allayed the fear over the dwindling subscription by authorized dealers noting that the development merely goes to confirm the extent of liquidity in the foreign exchange market and the determination of the CBN to sustain the intervention aimed at ensuring stability in the market.

Read more at: http://www.vanguardngr.com/2017/05/naira-rises-n389-banks-buy-29-cbns-dollar-offer/

and u called this rise?

I naira=I dollar

CBN should remove the limits on Naira MasterCard, this would also help in relieving pressure in the FX markets

Naira just be like Lazarus

Today e go raise knowing fully well that it will crash



Our president is in aso rock drink fura through pipe

God is always alife

jidxin:
and u called this rise?

it is a fall

jidxin:
and u called this rise?

No be me call ooo... I never even brush my mouth, how i wan take talk...... Na CBN oooo.. Hold them...