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Nairaland Forum / Nairaland / General / Business / CBN May Lose Control Of The Naira - Punch Editorial Board (24064 Views)
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Re: CBN May Lose Control Of The Naira - Punch Editorial Board by OKORONKWOBRIGHT(m): 2:32pm On Aug 14, 2023 |
SmartPolician:Before end of this week you are saying December |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Indifferent12: 2:35pm On Aug 14, 2023 |
AsomughaChuks05:It's their nose they will use to manufacture |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Reference(m): 2:37pm On Aug 14, 2023 |
Bovis: What are you talking about.? |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by nedekid: 2:39pm On Aug 14, 2023 |
SmartPolician:Diesel was 650 last week. It is 750 today and rising. Few minutes ago, I bought 10k fuel the manager of the station ie my paddy, told me they sent 2 trucks, they only loaded one and told them to hang on till tomorrow as the second truck will be loaded at new price. Based on the above, the manager adviced me to fill my tank, that there will be increase this evening or tomorrow latest. I had to buy extra 30k ie total fuel 40k! How do you run a business, factory, transport etc under such cost? 1 Like |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by leokid866: 2:40pm On Aug 14, 2023 |
obyno82:Okay.....😁..... |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Cromagnon: 2:48pm On Aug 14, 2023 |
joyandfaith:because they voted wrongly for 60yrs |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by ysth(m): 2:49pm On Aug 14, 2023 |
SalamRushdie:you they mind am, even established manufacturers and businesses are not finding the current economic situation funny |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Shattuck(m): 2:51pm On Aug 14, 2023 |
AsomughaChuks05:with what? Will they start local manufacturing when the price of fuel energy is so high, where is the fund or infrastructure to support that level of massive local manufacturing? Can't even differentiate who is more clueless between tinubu and his supporters. |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by ysth(m): 2:51pm On Aug 14, 2023 |
EconomistXplain:so because an individual didn't open is company, the FG of a country should sit and fold their hands until one man open his private business? |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by BoldBrainz(m): 2:54pm On Aug 14, 2023 |
Are we now in agreement to divide this country? Or are we still in that spot where we're ruminating over our apparent problems and failings? Anyone wey be the case, make una tell us quick, so we all make informed decisions, going forward. 1 Like |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Edusouls(m): 2:57pm On Aug 14, 2023 |
Una never see something, it would favor me and my family crew were una Dey? Yoruba go finally kill and bury Nigeria kpatakpata |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Blazebond(m): 2:58pm On Aug 14, 2023 |
What is happening is artificial skyrocketing of the naira and it is caused by the hoarding of the dollars by everybody in Nigeria,for a country where the dollar is not an official exchange currency the volume of dollar notes being displayed everyday, everytime and by almost every person is alarming,we are our own cause of this problem,ban the BDC's and monitor the banks strictly and also enact laws that would make trading and being caught with dollar notes that is more than a thousand dollars a crime. 2 Likes 2 Shares |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Blazebond(m): 2:59pm On Aug 14, 2023 |
If you pump in more forex into the country, people are going to still gobble it up and hoard it. 2 Likes 2 Shares |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Nobody: 3:06pm On Aug 14, 2023 |
ogododo: So, this is how the news on the redesigned Naira notes faded away, right? Nobody's even talking about the stress we went through early this year with the unnecessary cashless policy that made me to start begging for transport fare because of no single notes in circulation. In a sane clime, the people concerned with that cashless policy would've been sentenced to life imprisonment or death like the Asian countries. Our people are too dull to hold their leaders accountable. 1 Like 1 Share |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Gratefullheart: 3:11pm On Aug 14, 2023 |
SalamRushdie:so you that know how to do business, the government should be subsidizing dollar by allowing 2 prices(black market and official rate) stupid ibo man.u think Warehouse Economics is what we are talking about... Here 1 Like 1 Share |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by SSpeter(m): 3:18pm On Aug 14, 2023 |
Abufo:Can you methodically tell me how the banks are responsible for this? go school una no gree 1 Like 1 Share |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by bigjj: 3:20pm On Aug 14, 2023 |
Since the floating of naira, CBN is no longer in control of naira; until the policy is reversed. |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by leganssourcing: 3:22pm On Aug 14, 2023 |
Blazebond: BRILLANT |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Munamu: 3:23pm On Aug 14, 2023 |
EconomistXplain: How will that help? Do you think FGN will sell crude oil to Dangote in naira? The NNPC already said Dangote oil will not have any effect on fuel price. The only hope is when there are a lot private refineries that will make prices competitive. The reasons why our refineries are down and can never function optimally is that FGN needs constant supply of dollars,and this can only be achieved by selling out crude to the world. Dangote too will have to source for dollar to buy crude from FGN, and to pay for the manpower and other services he will be importing. 1 Like 1 Share |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by SalamRushdie: 3:27pm On Aug 14, 2023 |
Gratefullheart: Abeg go and sit down let your senior brothers wife cook for you , I know you live with your brother so abeg rest |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by SSpeter(m): 3:27pm On Aug 14, 2023 |
Eriokanmi:Your last sentence has depth... |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by membranus: 3:33pm On Aug 14, 2023 |
Emefiele, with Buhari, plundered our resources and destroyed the economy. Through the CBN's balance sheet just released, it is now clear that Buhari , through the CBN ,took secret loans from international organisations like JP Morgan , Goldman Sachs, FX Forwards etc. I am talking of secret loans up to 15 billion dollars. Secret in the sense that the national assembly was not even aware of it and therefore , after the loans were received , there was no appropriation. Buhari , Emefiele and their thieving band just kept spending and plundering. Buhari took those secret loans and used our foreign reserves (built by past governments) as collateral. This is in addition to other humongous loans that he took , with the approval of the 'o yes' national assembly, from world bank ,IMF , ADB and other international financial institutions. He also took loans from countries like China, France,India , Japan and Germany. Buhari took more loans in 8 years than all the loans , when added together, taken by past governments of Nigeria since our independence in 1960. Let that sink. He took more loans in 8 years than what we took in our first 55 years as a country and with nothing tangible or infrastructures to show for it. And yet that was not enough for Buhari and Emefiele. It has now emerged that Emefiele printed 23 trillion Naira for Buhari to spend without any appropriation or oversight by the national assembly. The effects is what we are seeing today and has made the value of the Naira to continue to sink. Go and read the CBN report just published and you will weep for what Buhari did to Nigeria. The man is worse than Abacha. Compared to Buhari, Jonathan is an angel. I hope that those who voted him because "Osinbajo will handle the economy" can now clap for themselves. #COPIED |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by richeeyo(m): 3:36pm On Aug 14, 2023 |
SalamRushdie:But in all honesty sir A man of your age shouldn't be this stupid If buhari ruled Nigeria for 8 years And had covered alot of damage done to the economy Do you expect Tinubu or obi to fix it in 2months Don't be tribalistic Use your brain daddy 1 Like 1 Share |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Dpaulie(m): 3:41pm On Aug 14, 2023 |
Thanks to obedient and Ronu who gave power to Tinubu |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Treadway: 3:43pm On Aug 14, 2023 |
membranus:anyone with half a brain cell can see the propaganda here... Unfortunately, many people are irredeemably stupid, so yea while I long expected that y'all will start singing this song on high pitch, certainly many will gobble it all up. No worry. Some of us already know the game plan is to blame Buhari for everything now that Opolo eye holds sway, just as y'all blamed Jonathan for everything when Buhari held sway. Very predictable...smh. |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by SalamRushdie: 3:48pm On Aug 14, 2023 |
richeeyo: I never entertain people with Low IQ please ...I am in my 30s now and I am not your daddy , no be me say make you no make am quick in life |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Crvrider: 3:59pm On Aug 14, 2023 |
EconomistXplain: All these by just one refinery working. So what stopped them from making 3 work? |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Aliftedmusic: 4:14pm On Aug 14, 2023 |
My dream for Nigeria. $1 - N2950 Petrol - N2500 per litre maybe by then black people go enter street.
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Re: CBN May Lose Control Of The Naira - Punch Editorial Board by BabaIbo: 4:24pm On Aug 14, 2023 |
SalamRushdie: You observed him well, some of these people just open their mouths waaah... 1 Like |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by BennyDGreat: 4:27pm On Aug 14, 2023 |
orisa37: That's only a temporary strategy. The only way is to look at what can be produced here and create massive support around it to reduce its import. Even this will take like 2-3 years to achieve stability |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Kingpowerful: 4:40pm On Aug 14, 2023 |
fx45:My dear there's non ooo just a propaganda his media warriors used. |
Re: CBN May Lose Control Of The Naira - Punch Editorial Board by Blackdisciple(m): 4:46pm On Aug 14, 2023 |
ogododo: Surely that's the only thing he understands tax tax tax and tarrif with nothing to show for it.. |
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