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Nairaland Forum / Nairaland / General / Business / CBN announces unification of FX windows, stops Naira4Dollar scheme (78075 Views)
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by grandstar(m): 6:35am On Jun 15, 2023 |
fawaz050: You said EDT is 3%. What is EDT? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by 27Pushing30: 6:35am On Jun 15, 2023 |
oluwaseyi0: He is a politician … have we ever had a politician as president before? He is a godfather … have we ever had a godfather as president before? He is a technocrat … have we ever had a technocrat as president before? He is a seasoned “wheeler-dealer” … have we ever had a wheeler dealer as president before? He is a former lawmaker… have we ever had a former lawmaker as president? He is a former governor and opposition leader… have we ever had a former governor and opposition leader as president before? He has ties to the underworld (drug smuggling) … we don get am before? A man with all this has the requisite influence to push through even the toughest of legislations. 3 Likes |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lexy2014: 6:36am On Jun 15, 2023 |
Femmyfamous4u: So? How does that translate to.success as a public servant? Emefiele also had banking career and finance background. Bawa and Magu were policemen so also was Abba Kyari. How did that turn out? Did buhari have a godfather? Buhari is a military man. What was the state of security under his regime? This is what Tinubu told nigerians about buhari.
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lexy2014: 6:40am On Jun 15, 2023 |
27Pushing30: Am glad that in all you typed, you didn't say that Tinubu is patriotic which is the one singular most important quality that any nigerian should have especially those who hold public office. How are all the above you mentioned the qualities a public servant needs to discharge his or her constitutional duties? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by bewla(m): 6:42am On Jun 15, 2023 |
vastolord4:if you get help send the info Grammar no be my language 1 Like |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by thoth: 6:42am On Jun 15, 2023 |
This is the end of the naira...The total destruction of the Nigerian economy...Foreign capital can now prey on the Nigerian economy recklessly. I pity Nigerians that don't understand what is going on...but i know very well they will understand the SUFFERING when it starts. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Tonytonex(m): 6:43am On Jun 15, 2023 |
oluwaseyi0:It's like you don't know the meaning of the word JAGABAN. That's why he's called the jagaban |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Teymanhenry(f): 6:46am On Jun 15, 2023 |
lorbah001: This shows he had plans put in place even before becoming President. I never believed in him, I thought he is too old to deliver. Never knew had kept a good plan all along. Kudos BAT. We desperately await more of these policies |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Tonytonex(m): 6:47am On Jun 15, 2023 |
Metrofox:how? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by klawaaa: 6:48am On Jun 15, 2023 |
They are being smart to play off the gallery for the Nigerian populate of the common term of devaluation. The immediate effect of inflation is loomy. Though, the long run effect would support local businesses. We are on the right track for the long term. The dude is tending toward the USA capitalist economy. He's trying to operate like the USA economy, but deem, this is Africa, we aren't sufficient for this yet. References1: |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by blaise26abj(m): 6:50am On Jun 15, 2023 |
Ogene001: Not really . As long as there is a need for dollars and there is open market , abokis will still make money but with the tight margins as before that madman Buhari . One naira to 5 naira difference . Not the 300 naira to 400 naira margins . |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lexy2014: 6:56am On Jun 15, 2023 |
lorbah001: What pace exactly are you referring to? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by smileyoo: 6:57am On Jun 15, 2023 |
Ogene001:pls, stop this craps, if the abokis have been destroying the fabric of Nigeria development through glaring nepotism, do you still expect Oga tinubu to continue in that way, just to please the abokis ? am glad that Oga tinubu is making the right decisions so far . but we are still expecting him to take decisive actions against insecurities and stop these senseless killings in Nigeria, and he had succeeded in winning my support. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lexy2014: 6:57am On Jun 15, 2023 |
oluwaseyi0: What has he gotten away with? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Jomonix: 6:59am On Jun 15, 2023 |
accordadoga27: The man you denigrate is the reason for the present progressive steps government. He has forced politicians to discuss issues. It doesn't matter who is at the helm of affairs as long as the right thing is being done. Obi could have removed subsidy from day 1. He could have nullified the current multi tiered foreign exchange system. So many more to come and many thanks to Obi for bringing positive changes and making our lazy politicians to to up and doing. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by funshint(m): 6:59am On Jun 15, 2023 |
Ogene001:You don't even understand what is written there in the first place. Bigotry has finished this one 1 Like 1 Share |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Elliotwaveforec: 7:07am On Jun 15, 2023 |
Baba isn't done yet! Rates are crashing soon; negative interest rates regime coming. Brace up. No time! |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by 27Pushing30: 7:09am On Jun 15, 2023 |
lexy2014: You were a child with poor home training and poor education which has made you today… an ignorant human being. Abeg I can’t engage ignorant people… your anthem says “arise oh COMPATRIOTS” that means EVERYONE is a PATRIOT. A person who risked life to fight military dictatorship is not a patriot lmaooo? But Obi who was appointed as chairman of tin can island port by the military dictatorship is what? Ignorant people dey sha |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by MasterTeeUSA: 7:12am On Jun 15, 2023 |
While I No get time to explain everything…I will try. There is an Importer-Exporter window….those exporting will get dollars and can sell to those that want to import say raw materials. Limits to zero means no limit and cessation of rebate means elimination which was set up under Emefiele to provide subsidy for people to remit dollars because no one wanted to do that at CBN rate. With both rates uniform, everyone can smile…medical and school fees must be processed as usual….I guess cos they are considered emergencies. Rate will be based on previous day typical of stocks so if $1 ends N680, it will start the next day at that rate …weighted average means if you have $1 = N680, N682 and N687…..It will begin next day at (680 + 682 + 687) / 3 = N683. This is meant to uniform the rate daily across the board References1: |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lexy2014: 7:17am On Jun 15, 2023 |
27Pushing30: 😂😂😂 See who is calling somebody ignorant. Pls see the meaning of compatriot below. 😂😂😂 U try. Even if what u say is true, how can everyone be a patriot? Or don't you know the meaning of the word patriot 😂😂😂😂 You have already engaged me. So why are u lamenting that u can't engage me? Meanwhile, your emotional outburst hasn't negated the following neither has it answered the accompanying question. Am glad that in all you typed, you didn't say that Tinubu is patriotic which is the one singular most important quality that any nigerian should have. How are all the above you mentioned the qualities a public servant needs to discharge his or her constitutional duties?
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by ceejayluv(m): 7:18am On Jun 15, 2023 |
jhydebaba:This will actually do the opposite, frankly. Other factors determine the Naira price. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by kolamilan(m): 7:20am On Jun 15, 2023 |
Naira 4 dollar never stop na. Till June 30th, 2023. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by ceejayluv(m): 7:20am On Jun 15, 2023 |
Favourchris:Jagabanists no go Understand... If he bleeps their wives right now, they'll still praise him as the best leader ever. Anything to try to legitimise his stolen mandate. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Inception(m): 7:24am On Jun 15, 2023 |
Femmyfamous4u: I read this and I laughed Nigerians have forgotten IBB , and SAP of 1986 This was the exact lie IMF told us that led to the irredeemable fall of the Naira. And at that time, Nigeria was a paradise compared to the shi.t hole it is now Gentlemen... The Naira is dead and buried by this move. We currently do not have the economical sagacity for this right now. No roads, no electricity, poor transportation network, no factories, harsh economic policies for businesses to thrive, and the topping of the cake: INSECURITY!! Even the oil sef, we no dey produce as we ought to, and there is no market sef. See, Nigeria is broke. Buhari wrecked the country beyond repairs. That is why APC did everything to ensure they remained in power.. In the coming days, una eyes go clear. 1 Like |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by 9182736455O1999(m): 7:25am On Jun 15, 2023 |
Kubernetes:Please, so does this means we no longer have an official rate but only a black market exchange rate? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by viodemus: 7:27am On Jun 15, 2023 |
VeeVeeMyLuv: it is alarming. The naive guy in real leadership, is rapidly becoming Stealibu. His corruption establishment or foundation is really solid. I wish he could put that energy for the good of Nigeria. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by dwana91(m): 7:30am On Jun 15, 2023 |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by succri(m): 7:32am On Jun 15, 2023 |
Theres renewed hope for this country |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Segzy19: 7:38am On Jun 15, 2023 |
The dunce Obidients can't understand this. It's too much for them to comprehend... And once they can't understand anything, they quickly call it 'initial gra gra'.... Useless people... They never appreciate anything good in their lives. I thank God for Tinubu. May God continue to guide him. May evil befall anyone wishing evil on the president |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Ewedegubbler: 7:42am On Jun 15, 2023 |
Oga Oya interpret am
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by obyno82: 7:47am On Jun 15, 2023 |
Segzy19:.let me take you back memory lane this was the same step IBB did with the introduction of SAP. I am sure you were not born then and the pressure led to the death of local manufacturing and the free fall of the naira. Tinubu is being too hasty with his policies simply for the fear of the Obi paradox, he is desperately trying to win public sympathy, but this would backfire quickly. Without putting structures in place, the implication would mean outside forces will put pressure on the naira making the naira to lose value rapidly. Tinubu should leave this media circus and focus more on putting structures in place. |
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