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$1/900 Why CBN Must Avoid Emefiele's Mistake - Politics (3) - Nairaland

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Re: $1/900 Why CBN Must Avoid Emefiele's Mistake by ttime(m): 12:20pm On Apr 05
Bizibi:
whatever they are doing is short-term,the government need to increase export and remove bottlenecks,that is the reality if they want to progress and strengthen the naira.the cashinflow of dollars is still low.

But have u even taken time to analyze what they're doing? Or u just imagine and believe ur imagination.

Wait until the banks recapitalization to 500bn kicks in, you'll see more dollars flood the market.
All those hoarding dollars have no option than to offload it. Now that parallel market is even lower than cbn rate.
That's what good policies do.

The policies onground make it difficult for bdcs to fix dollar rates anymore.

Cbn is directly in charge of dollar sales, meaning they can even decide to sell it for #350 if they so wish.

Now, crude oil sales goes straight to cbn, so there will always be dollar liquidity.

Interest rates are almost at 30%
So fdi is growing everyday, more inflows...

Dangote refinery is rolling out products, first diesel and aviation fuel, diesel already fell from #1700 to #1300 in Lagos for the first batch alone.
Dangote will sell Petrol to Nigerians by next month, meaning nnpc will no longer need to buy dollars from banks to buy Petrol from foreign tankers...

Currently, naira is still underpriced at 30%, meaning the international community see parity at #800 to #900 per dollar.

Again, with all these in view, tell me why u think the current policies are for the short term...

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