SamuelAnyawu:
Nice One

TPAND:
This policy is the a stylish way of devaluing the Naira.
I get it PMB, every savvy economist knew all along the Naira can't be sustained at N198 official rate.
The parallel market will shoot to close to N420 to a dollar in the coming weeks

tweetsme:
Is it a crime for the naira to equal the dollar. Imf is just another weapon of modern day slavery on africans. They will not never want to devalue when face with currency difficulties but will rather stand on the official rate. Some african countries are so gullible to be used by the western nations to impoverish them. They will buy a lot form your country with a little thousands dollar compared to africans paying a lot for their goods. I hate imf.

ijija:

The mofos actually know but buhari insists on being the chief economist of his regime. What do you want want the mofos to do. Argue with the emperor?

priceaction:
Why are people complaining again. At least let the market forces do it's thing.. They narrow the exchange rates, you people complain. They relax it you people complain. Bring better solution, you don't have. The truth is that economy has sunk right from many years ago. It just shows physically now. If you are partisan thinking it is PDP or APC, you get it wrong. Because mwhen they want to steal, they do collabo to do it irrespective of the party..They don't care about us. Their family will hardly feel it even if the dollar trade is 500naira. Even if it is Gej on the throne , it won't be better.
You better brace up for though time.

chigoizie7:




Competition fire.

Those are done in a place where there are strict law and order.

Since the FGN can not regulate these markets.

The marketers will just form a secret union and fix the prices to suit them so as to make soo much profit and the govt can do nothing about it.

adenine02:
hope it make a change in d life d ordinary people

Pangea:
How to destroy your country's economy in a year!
The Buhari Tragedy!

ibedun:


The fat puff puff face, Jonathan that dumb brought us here. I pity people with children, Kai they will suffer chai.

Analysts questioned the wisdom of announcing a major shift in policy without spelling out how to implement it.


“Any real liberalisation would be accompanied by some tightening, as a stabilisation measure, at least in the short term,” said Razia Khan, Chief Africa Economist at Standard Chartered in London.

“That does not appear to have been considered. This is at best curious, at worst very worrying.”

segalex:
I support PMB most times but I honestly think he needs to gather Nigerians who are versed in economic matters and constitute a real economy team which will give this administration the necessary directives on how to run the economy.
The issue of making Osinbajo who is a lawyer the leader of your economy team doesn't make sense, if there's one area that this administration is seriously struggling, I think it's the area of economy and this needs to be corrected before it gets out of hand

blackpanda:
Just watch how the people that have been crying for devaluation will come here to cry that tins are expensive

Uduak2019:
Nairaland economists should come and interpret this voluminous, esoteric article/press release for us! The writer of this article intentionally made sure that ordinary Nigerians don't understand the new monetary policy

obailala:
It has alread started happening. They've already littered the thread with their emptiness, all they care about is just to wail and oppose, they've got absolutely nothing in their skulls. Govt refused to devalue, they complained; govt has now devalued, they still complain and curse. Such daft twerps.

soulpeppersoup:


Bros your wrong, the first day the CBN gave up hand to the bureau de change as against our national bank to handle dollar exchange was the day the national economic problem got worst. I said it here, how can NNPC decide to sell petrol to black marketers as against our normal fuel stations. That is an abuse and every abuse has a dangerous consequence which is what we are seeing.

Now let assume the CBN had used the banking system and pegged the dollar then at 230 naira. It means if you must buy from bank it must be 230 nationwide and if you must sell it must be below 230. As you and me know that 90% of dollar entering the nation goes through the bank. Therefore, the bureau de cahnge will adjust to be at par with the bank. But instead of that happening it is the bank that are adjusting now to that black market.

TechRev:
"Special window" there is your corruption for the fantastically corrupt nation. What is special window and what qualifies special window transactions and what rate will the special window get?

Special window is for his favored few. And they are looking for corruption.

Terror666:
In three sentence, somebody should please summarize

chigoizie7:



To even think that some fools were calling fayose anti government and all sorts of name.

Turns out the man @ state level knew better than those @ the federal level, but would dey had listened to him? NO, after all, he is PDP(opposition).

Pangea:
How to destroy your country's economy in a year!
The Buhari Tragedy!

Harrisonwo:
This is the worst policy ever. For those who doesn't know, it means if I have the dollars, I can sell at any amount that I want. It's either u take it or leave it. The importers will have no choice than to buy the dollars like that even if I want to sell it at $1=#500. If u don't want to buy, look elsewhere.
Buhari should swallow his stupid pride and invited GEJ and other past individuals who are known to get the job done to help advice/take control on critical sectors even if the person na PDP oo. GEJ I knw always have the interest of this country at heart and will more than wilingly come to help out. To those anti-GEJ sycophants, your country is sinking and you don't know it. We r heading towards Zimbabwe type of economic crash.
I don say my own

dalaman:


Which marketers are you talking about pls. Black marketers or what?

Dam5reey:


Thank you for this comments seems the government and banks are doing something behind...

If you are making online payment Bank will charge at parrallel market rate N320 whereas when you receive money in foreign currencies banks credit you using CBN rate of 197.. about N120 difference... God is watching anyways..

I was banned for some hours na wa oo... In this economy status anything just dey happen...

Nelkoko:
Me i NO understnd anyting 4 here.