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Nairaland Forum / Nairaland / General / Business / World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes (12510 Views)
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World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by iwaeda: 10:53am On Oct 05, 2023 |
The World Bank on Wednesday advised the Central Banks of Nigeria, Ethiopia, and Uganda to refrain from unconventional measures that might undermine their monetary policies. https://punchng.com/wbank-warns-cbn-against-fx-control-direct-lending-subsidy-programmes/ 1 Like 2 Shares
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Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Alchemy528: 10:53am On Oct 05, 2023 |
Ok 2 Likes 1 Share |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Tobilani: 10:55am On Oct 05, 2023 |
Will we adhere to the warning? Because this is not the first time 5 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by iwaeda: 11:54am On Oct 05, 2023 |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by iwaeda: 7:15am On Oct 06, 2023 |
Mynd44, Nlfpmod. 2 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Chuknovski(m): 9:14am On Oct 06, 2023 |
World Bank senior prefect of junior world 🌎 countries 24 Likes 1 Share |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by money121(m): 9:14am On Oct 06, 2023 |
Ok |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by theophorus(m): 9:14am On Oct 06, 2023 |
Would we take this counsel or say the WB is trying to control us and that BAT is their puppet? Well, when shit hit the ceiling na everybody go collect. 3 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by inoki247: 9:16am On Oct 06, 2023 |
Lol World Bank is on Colos is dere advice really working they advised on Subsidy removal and FX Floating all na Disaster now..... 27 Likes 2 Shares |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by RepoMan007: 9:17am On Oct 06, 2023 |
Hmmm |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by RepoMan007: 9:17am On Oct 06, 2023 |
inoki247:The advise is not entirely bad if not for our deeprooted lack of production. With excess production, export would have earned us dollars to strengthen the naira. With local production of petrol and power, the need to import will be greatly reduced, and therefore the naira will be stronger making goods cheaper. They gave us half advise and left our lazy thinking leaders to figure out the rest but can they? 21 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Antiochus(m): 9:17am On Oct 06, 2023 |
theophorus: We must adhere cause we are owing them money. |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Algold: 9:17am On Oct 06, 2023 |
Before the middle of next year, if we don't stop hoarding dollar in Nigeria. It will hit N2000 to $1. The way forward is simple. Eliminate middlemen in the sector (bereau de change), close all accounts in dollars. Let source from Dollar only from commercial Banks. Let all Commercial banks give report to CBN on dollar daily activities. Dollar should not be allowed or seen with anyone within Nigeria territory (not our official currency) . On arrival convert it to Naira at that point. There should severe punishment for defaulters. Within weeks you will see dollar drop like a fallen olympus 22 Likes 2 Shares |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Brendaniel: 9:18am On Oct 06, 2023 |
CBN under Tinubu is just a circus for financial jokes.... 1 Like
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Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by yesloaded: 9:18am On Oct 06, 2023 |
Before you take any advise, it's good to weigh options 3 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Biodun556(m): 9:18am On Oct 06, 2023 |
This American bank called World bank is a devil. It is using Africa Centra banks to value the dollar. World bank is a quagmire. The best solution is not to approach it for loan. 6 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by wittywriter: 9:18am On Oct 06, 2023 |
Chuknovski: theophorus:World bank hardly warn or suggest to Scandinavian countries! Y. PoliteActivist:...find out ask your internet friendly Google. PoliteActivist:Funny you been half smart...is Denmark or Norway not part of WB as Scandinavia? SMH@you. PoliteActivist:Stop been ignorant and DYOR @bolded...BTW i need your advise but i don't want to borrow USDT($5k) from you but from BlockFi and they don't offer advice...no pun intended. Wittyness. 1 Like 1 Share |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by SpecialAdviser(m): 9:19am On Oct 06, 2023 |
Giving any advice to an agbadorian government is clearly a waste of time. I remembered his initial gra gra and the fanfare that followed it. Initial gra gra of errors and mistakes
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Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by PoliteActivist: 9:19am On Oct 06, 2023 |
World Bank is full of shit Which one be world bank sef? As in Central Bank of the world or what?? |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Nahunger(m): 9:19am On Oct 06, 2023 |
With their coconut 🥥 head you think they will listen lol |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by 1950Mack: 9:19am On Oct 06, 2023 |
They should mind their business... shebi their conspiracy follow slaughter the naira |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by id4sho(m): 9:20am On Oct 06, 2023 |
Kill us all |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by id4sho(m): 9:21am On Oct 06, 2023 |
inoki247:Ur mind dey there |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by famology(m): 9:21am On Oct 06, 2023 |
Nigeria should come up with indigenous solutions to her challenges. These international bodies advice nor dey work for us at all. |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by HateBigots: 9:24am On Oct 06, 2023 |
Fvck world bank... They can never give developing countries good advice. They want them to remain poor so the country can keep borrowing until oblivion 🤡 4 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Theunbothered: 9:24am On Oct 06, 2023 |
Biodun556:They warned Buhari about the border closure but the man did not listen. Agbadonomics isn't compatible with common sense |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Bruisecruise: 9:24am On Oct 06, 2023 |
The unprecedented shame and failure that Nigeria is about to witness as a nation is going to look like something out of a movie. You have an illegitimate President thinking legitimacy can be bought. Talking about “he built Lagos” is just insanity. Lagos is a shithole when you compare it as a city with any other major city in Africa. Lagos, a den of touts and Agbero? I’ll give more credit to El-Rufai for what is known as Abuja today than I’ll give to this drug lord called Thubv or Tinubu. World bank warning or not, this government is just an assembly of crooks whose only mission is to sink the nation further than they’ve done in the past years till nothing is left. |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by McLizbae: 9:25am On Oct 06, 2023 |
Previously, the world bank wanted Naira devalued and subsidy removed, now it has all been achieved, and hardship-suited Nigerians have been pushed below the least global standard of living. Now that the dummies in government have been constantly kept under pressure by the hunger and angry Nigerians to merely provide some relief, the world bank has showed up again! World bank warned CBN against: 1. FX control = leave the naira to keep loosing value 2. Direct lending = make funding and momentary aid difficult to access. 3. Subsidy program = stop all of that! Lols... In short, the world bank is always concerned and bordered whenever the poor and constantly impoverished African Nation takes any baby step to merely improve the life and living standard of its people towards the world's least standards. 4 Likes 1 Share |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by Procashtips(m): 9:28am On Oct 06, 2023 |
Listen to world bank to your own detriment. 4 Likes |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by FireUpNow(m): 9:28am On Oct 06, 2023 |
This same world bank advised us to remove subsidy and here we are facing terrible hardship. We are their slaves because we have borrowed alot from them. The same WB told the CBN to devalue the naira and Tinubu obeyed with naira floatation (coded devaluation) na die we dey so. 1 Like |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by PoliteActivist: 9:29am On Oct 06, 2023 |
wittywriter: Why? Because they don't ask them for loans. If you come to borrow from me, I'd be advising you too! |
Re: World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes by BoldBrainz(m): 9:29am On Oct 06, 2023 |
On this, I agree with some of the comments above. The world bank is notorious for keeping economies of developing countries on an average flow, and where policies of those individual countries are perceived to be gaining upward trajectories, they churn out pretentious advisories which end up being to their own advantage. They and the IMF were the chief proponents of the removal of our petrol subsidy and the liberalisation of their own major currency in our economy. And their brown toothed stooge in Aso rock was all too willing to dance to their beats the moment he entered the villa. See where we are today?! When have you ever heard them giving advice to Rwanda or Ethiopia? Cause leaders of those countries don't listen to them. But as big as we are, we keep having puppets as leaders who'll easily bend over for the west to fvck us to stupor. 1 Like |
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