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Nairaland Forum / Nairaland / General / Business / CBN Releases $500m To Clear Verified FOREX Backlog (14791 Views)
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CBN Releases $500m To Clear Verified FOREX Backlog by Paraman: 4:26pm On Jan 29 |
The Central Bank of Nigeria says it has released $500m to various sectors in its determination to address the backlog of verified foreign exchange transactions.https://punchng.com/cbn-releases-500m-to-clear-verified-forex-backlog/?amp 8 Likes
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Re: CBN Releases $500m To Clear Verified FOREX Backlog by Mynd44: 4:31pm On Jan 29 |
To those telling people to dump the Naira and those listening to them, pray you don't end up buying dollar at an amount you won't want to sell it 45 Likes 3 Shares |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by atobs4real(m): 4:32pm On Jan 29 |
Good development. I pray it is judiciously used 7 Likes 2 Shares |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Error401: 4:33pm On Jan 29 |
Now dollar will drop again. Since there are no foreign investments, It will still rise in 2 months. Its the best time to buy Dollars. 42 Likes 2 Shares |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Dialpad: 4:33pm On Jan 29 |
Whats the implication of this ? The rate is way too high... |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by atobs4real(m): 4:33pm On Jan 29 |
Good development. I pray it is judiciously used And not same corrupt people will get it 3 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by ProudNigerian01: 4:33pm On Jan 29 |
OK, noted. I came here to preach Ask yourself and be sincere in your answer: In a world dominated by evil and sinful activities, where do you stand? If The LORD visits your community or Nation in a state of despair and hardship, will He find any still trusting in Him? If He came to your family, will He find a man to use? Luke.18.8 - I tell you, He will defend and protect and avenge them speedily. However, when the Son of Man comes, will He find [persistence in] faith on the earth? Get serious with your spiritual life. 20 Likes 1 Share |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by DMerciful(m): 4:33pm On Jan 29 |
K |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by sagitariusbaby(m): 4:33pm On Jan 29 |
Dollar will eventually fall against the naira, stop hoarding it people 11 Likes 1 Share |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by SoNature(m): 4:33pm On Jan 29 |
Get ready to see the USD crash in the coming days! If we can flood the market with enough USD, it can even crash to #700 for one USD in the parallel market! Unfortunately, we just don't have smart people in government to maximise our earning potential. Better still, those who claim they are here to lead are only here to steal. 28 Likes 3 Shares |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by RepoMan007: 4:33pm On Jan 29 |
Chicken change for wines and cigarettes. 9 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Telltruth123: 4:33pm On Jan 29 |
I pray it boost our economy, we just want to see positive improvement in our economy. 1 Like |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by femijay8271(m): 4:34pm On Jan 29 |
So what's next?
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Re: CBN Releases $500m To Clear Verified FOREX Backlog by BadMaster: 4:34pm On Jan 29 |
As long as this development doesn't return naira to Dollar rate to less than 1000, then it's nonsense. 7 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Triangles1(m): 4:34pm On Jan 29 |
Emilokan 1 Like |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Paraman: 4:34pm On Jan 29 |
How much this backlog remain like this now? 4 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by tommy589(m): 4:34pm On Jan 29 |
Good one |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by MrBiGGEST(m): 4:35pm On Jan 29 |
N i C E |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by extol1(m): 4:35pm On Jan 29 |
Can someone interpret this |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by money121(m): 4:35pm On Jan 29 |
Lamba 2 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by bigdammyj: 4:35pm On Jan 29 |
Noted. |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Woodshot: 4:35pm On Jan 29 |
2000 naira exchanging for 1USD is a foreseeable future. Same way nobody believed that naira would trade for 1400. It's unsettling and shocking to think about it but 1 USD 2k naira is sure... 9 Likes 2 Shares |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by jmoore(m): 4:35pm On Jan 29 |
Mynd44: CBN will sell dollar above 1,000 naira before June this year. Save this post. 11 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by RepoMan007: 4:36pm On Jan 29 |
SoNature:enough you say. Where will it come from? 3 Likes |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by D4gmail1: 4:38pm On Jan 29 |
All these won't do nothing until our economy becomes production-export focused. Naira will still be headed to 3,000 Naira per US Dollar. It's not a curse neither am I a pessimist, it's just basic economics. I for see a future were everyone will change their Naira to Dollar and keep it under their bed, because they don't want tissue paper currency. Local shops, market and private schools will ditch the Naira and accept US Dollars if nothing is done asap to get a productive economy. What ever the case, people who depend on God's economy (not any government or political party) will always survive and live in abundance and also have much to give to the poor just like I am doing. 1 Like |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by OBTMOS(m): 4:38pm On Jan 29 |
Let the naira rates drop |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by BigDawsNet: 4:38pm On Jan 29 |
Don't Buy Dollar to keep!!!!! As soon as the both refineries begin the process of PMS Distribution and Exports... the dollar will come down and stabilise... No talk say I no tell una oh... Predictions says it could stay around 800 to 850 in both markets... Talk to your account officer or finicial advisor before u invest 8 Likes 1 Share |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by Olawaleader: 4:38pm On Jan 29 |
Provided dem no go hoard am as usual 1 Like 2 Shares |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by EconomistXplain: 4:38pm On Jan 29 |
extol1: yea...shld i...? 1 Like |
Re: CBN Releases $500m To Clear Verified FOREX Backlog by H2ho(m): 4:38pm On Jan 29 |
dollar don go back 1k now now 2 Likes |
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