Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,152,171 members, 7,815,098 topics. Date: Thursday, 02 May 2024 at 07:15 AM |
Nairaland Forum / Nairaland / General / Business / CBN Floats The Naira, The Implications For You And I (77839 Views)
What Happened To The Naira Swap / Dangote Floats $100m Truck Assembly Plant In Lagos / Good News. The Naira Is Now 245 To $1. See Inside! (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply) (Go Down)
Re: CBN Floats The Naira, The Implications For You And I by Nuahall2k14(m): 5:04pm On Jun 15, 2016 |
Thanx a lot. Now I get it lafuria1: |
Re: CBN Floats The Naira, The Implications For You And I by gloryman91: 5:04pm On Jun 15, 2016 |
Please arrest any governor who didn't fulfill new bailout condition. |
Re: CBN Floats The Naira, The Implications For You And I by 2sexycom(m): 5:08pm On Jun 15, 2016 |
LordIsaac:no b lie ooo. 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by Icemany: 5:11pm On Jun 15, 2016 |
Why cant the federal govt hire Mr.Bizmark Rewane, Ceo Financial derivatives (the man with jerry curls that always comes on channels 10pm news) The man is a financial guru if u ask me. With him at the helms, this country go make too much sense. Forget this wishy washy economic team. 2 Likes |
Re: CBN Floats The Naira, The Implications For You And I by Guyman02: 5:11pm On Jun 15, 2016 |
Vessi: The East (Cyrenaica) feel that the West is backing western Libya since the murder of Gaddafi to subjugate them. The first tranche of $700m worth of Dinar printed in UK for Libya Central Bank did not get to them in the amount they expected and therefore decided to print their own currency and they feel that since the oil is in their area they should control it. What they have done is to align themselves with Russia who can protect them at the UNSC from western attempts to invade them. But as at today America is dropping bombs on the East under the guise of fighting ISIS in Libya but in actually fact they are helping their stooge in Tripoli to expand their territory. its a divide and rule tactics and has nothing to do with Freedom and Democracy. Now the East has started to ship OIL while Britain has proposed a draft resolution at the UN to enable Nato warships search for weapons in the Mediterranean sea; this is a ploy to prevent ships from the East shipping oil out of Libya. So the Chinese are coming with their ships to lift crude and will not allow Nato to board their vessels. 3 Likes |
Re: CBN Floats The Naira, The Implications For You And I by designking: 5:11pm On Jun 15, 2016 |
erico2k2:With the flexible FX market regime, sourcing your dollar for your export activities will no longer be an headache. 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by omogerohprecious(m): 5:12pm On Jun 15, 2016 |
wolextayo: Lols |
Re: CBN Floats The Naira, The Implications For You And I by gergemam: 5:12pm On Jun 15, 2016 |
I beg i wan ask this question now ooo.... Person whey one pay Schools Fees for UK now.... How this go take affect am... |
Re: CBN Floats The Naira, The Implications For You And I by jinglesbaby: 5:16pm On Jun 15, 2016 |
Yeah but at almost double the present rate! Is that not another headache that we have created because salary will still remain the same but we have to spend more! designking: |
Re: CBN Floats The Naira, The Implications For You And I by GreatEngineer(m): 5:18pm On Jun 15, 2016 |
erico2k2:Thanks. |
Re: CBN Floats The Naira, The Implications For You And I by repogirl(f): 5:18pm On Jun 15, 2016 |
2sexycom:let's wait and see. |
Re: CBN Floats The Naira, The Implications For You And I by cckris: 5:18pm On Jun 15, 2016 |
naijamd: After imposing EXTREME HARDSHIPS on Nigerians, Buhari now resorts to Economic Policies that would've helped in 2012. Nonsense. |
Re: CBN Floats The Naira, The Implications For You And I by imagrg(m): 5:23pm On Jun 15, 2016 |
Silence please! Nigeria at its experimental stage: the masses used as guinea pigs! Apes obey! The militants agitating; essential food on the run. Humpity Dumpity sat on the wall eating a humble pie! Attention! The Naira continues its matching order. Stand at ease! As you were! Apes obey! Cry, beloved country? Weep not; daddy is coming! Papa day come. He go come if e treat him ear finish. He go hear word well well ooo. Order! |
Re: CBN Floats The Naira, The Implications For You And I by Temptee101(m): 5:26pm On Jun 15, 2016 |
yusufu16:That's what we have been thinking since bubu came onboard. Its past one year 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by designking: 5:26pm On Jun 15, 2016 |
jinglesbaby:No, it has not created a double problem but an opportunity to attract investors to Nigeria. Our large population should be a great selling point for foreign manufacturers to setup factories in Nigeria. Two factors has made them less interested namely: 1.) Our businesses feels more comfortable running to china, taiwan, dubai, london etc to buy their goods at exorbitant prices. Why build a factory in Nigeria when these companies target trade volume for Nigeria is regularly achieved without moving an inch. We have a 200million buying population and that is enticing enough for any foreign business. Why do you think MTN is very interested in Nigeria after a fine of over $1billion. 2.) Inability for foreign investors to repatriate funds back to their home country as a result of restrictive FX policies. |
Re: CBN Floats The Naira, The Implications For You And I by Max24: 5:28pm On Jun 15, 2016 |
Guyman02:I cant understand your conclusion from your premise. Are you suggesting we should continue deceiving ourselves about how corrupt we are, like when Jonathan said stealing is not corruption ? Libyas problems and our corruption status are totally unrelated. If we refuse to openly admit we are corrupt we won't start to fight it. Look at the ways China and Ghana has fought corruption- openly not by hiding it. Rawlings had to openly execute many politicians then and China imposed death penalty on the corrupt. Technically, this two countries openly admitted their corruption status hence the need for drastic legislation. Which effective penalty has Nigeria imposed on its corrupt ? It is only in Nigeria that laws against homosexuals are stiffer than laws against looters. 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by GreatEngineer(m): 5:28pm On Jun 15, 2016 |
jinglesbaby: You are right there will more foreign investors coming into the country to invest and we forex will be available. Now the common man like me would suffer the more cos price of things will go up while my income remain the same. Can you explain what is cap, does it mean govt. fixing a point for the exchange not to exceed? |
Re: CBN Floats The Naira, The Implications For You And I by anonimi: 5:32pm On Jun 15, 2016 |
docadams: Do you mean the RCCG Adeboye waiver scandal under Ebola Owu collins011: |
Re: CBN Floats The Naira, The Implications For You And I by Shym3xx: 5:35pm On Jun 15, 2016 |
designking: What they're telling you in layman's term is that: salary will remain the same, but prices would double, thus slowly but surely wiping out the "middle class" who're the backbone of every economy and it will triple the poverty rate lol. Population means nothing when there's no viable middle class and as an investor, I won't want to invest in a country like that unless I only deal with luxury goods the upper class can afford. 4 Likes |
Re: CBN Floats The Naira, The Implications For You And I by omolola15(m): 5:37pm On Jun 15, 2016 |
happney65: Tell me what he did actually. The person you quoted don't understand it himself. Please just summarize for me what he did. And don't even say devalue because that's a different thing entirely. |
Re: CBN Floats The Naira, The Implications For You And I by iyke484real(m): 5:37pm On Jun 15, 2016 |
davide470:the next thing will be govment want to bail naira Oh pls tell them that me and my beautiful girl friend are not part of it! |
Re: CBN Floats The Naira, The Implications For You And I by jinglesbaby: 5:38pm On Jun 15, 2016 |
Yeah, my dear. A price it must not exceed GreatEngineer: |
Re: CBN Floats The Naira, The Implications For You And I by jam13: 5:40pm On Jun 15, 2016 |
[quote author=adebrave1 post=46599804]I don't understand all these stuffs My own be say when I want to buy garri, rice, tomatoes, pepper, yam, phones and other trivial things let them be cheap and affordable. I studied biochemistry and as such I can't comprehend the forex trading stuff. I don't understand it all. As far as e no affect garri and rice. No shit. If not the government are in trouble oh. Bro, dont limit yourself to your discipline. Forex trading stuff are simpler than those pathways u were able to comprehend in school days. All u need is to be interested in d topic and off u go! |
Re: CBN Floats The Naira, The Implications For You And I by awesomeb1783(m): 5:41pm On Jun 15, 2016 |
After calling Nig shithole and you want to succeed in it? Can I remind you that it's only a shithead that will succeed in shithole alexistaiwo: |
Re: CBN Floats The Naira, The Implications For You And I by adanny01(m): 5:41pm On Jun 15, 2016 |
collinsVP: The outflow is higher than the inflow. The only thing i think i understood is that, after suspending the outflow for a while the inflow has now climbed over the outflow so they will open the gates for outflow. If thats the case, very good. However, Nigerias are not in the habit of returning prices to the old rate ones it goes up. 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by jinglesbaby: 5:44pm On Jun 15, 2016 |
How many things are "Made in England" despite their good roads, hospitals, education et all? It's mostly because of taxes! We all go to China, India, Pakistan, Bangladesh and Vietnam to import "common pant (what we call pata in Yoruba)"! Even Marks & Spencer where I buy my undergarments go to Asia to buy! If we can start running "sweat-shops" sha like we have in Aba, maybe we will attract foreign investment too. The only things that are made in UK these days are "mixed-race babies and sham marriages" ! We dont have all these basic social amenities that would attract foreign investors no matter how willing they are to invest because of the foreign exchange policies. There are always two sides to a coin at the end of the day. Shym3xx: |
Re: CBN Floats The Naira, The Implications For You And I by mondraim: 5:45pm On Jun 15, 2016 |
But why wait to be employed if the available jobs are few? In a space of time it takes to read and digest a complete guide book as well as continual review of the resource material , you can set up your own business. Any resource that gives you the capacity to consult limitless times is great for you. A workshop or seminar is good but if not backed with an in depth resource, it doesn't help much. Our youths need to return to traditional book reading. One highly valued and pricey gadget in the hands of billions of humans is the Mobile phone. A good technician can take home between minimum N5, 000 to N20, 000 or more daily as you grow. Its market demand as a service is unending. Both now and in the nearest future, most humans own and would own mobile phones more than a laptop or computer. User penetration is higher and that is money to be made. There can never be enough technicians supporting a particular area, even an estate in a city! Why not be one - and classy, intelligent, well learned tech-support guy too. It's far better than a job that you wear tie to daily for a paltry N50k- 70k, a graduate! And this is prevalent in all Nigerian major cities;Abuja, Lagos, Port harcourt etc Some earn 30k!!! Graduates!! After how many years in school? You can start right at home, with a small capital as low as N10k! Why? The main capital is the knowledge + start-up tools. Some of the laptops young people own and use to watch films or play games or it's just cool to own one, can make them real cash if only they know how! It's all in this book. Get the book, titled " Mobile Phones and Tablets Repairs : A Complete Guide for Beginners and Professionals " and I guarantee you are on the path to financial freedom. Right now it's available on Amazon, Createspace (https://www.createspace.com/6165715) and other online stores. It would soon hit Nigerian bookstores. |
Re: CBN Floats The Naira, The Implications For You And I by Mattex001(m): 5:45pm On Jun 15, 2016 |
I'm expectant..... I have Faith in Naija do You ? |
Re: CBN Floats The Naira, The Implications For You And I by Shym3xx: 5:56pm On Jun 15, 2016 |
jinglesbaby: Lol. Even the Bank of England intervenes all the time to keep the Pounds Sterling afloat. Now imagine a country as unstable as Nigeria, with a very weak currency and, volatility in everything - yet they think pure float is the best option and some investors would fly out of thin air to invest there. It will dawn on them soon. Anyway, anyone interested in reading the implications of pure floating on emerging economies can read this research paper from UCLA (it cited Russia, Mexico et al): http://www.anderson.ucla.edu/faculty/sebastian.edwards/emerging.pdf I don't know how Nigeria will escape hyperinflation (with the crazy inflation already plaguing the country) and most likely a default with this one. I'll be on the look-out, regardless. As for the lousy economic theorists, who're no different from MBA holders who can't run a simple business, it'll dawn on you lot as well, when poverty hits you in ya faces lool. |
Re: CBN Floats The Naira, The Implications For You And I by GreatEngineer(m): 5:57pm On Jun 15, 2016 |
jinglesbaby:OK with the CAP in place, it will be fine and will work well but without it, sorry we are in for another messy trial and error policy cos people salary still remain the same while everything in the market will hit the sky. |
Re: CBN Floats The Naira, The Implications For You And I by tosinjay(m): 5:57pm On Jun 15, 2016 |
Does this mean we'll have to go and inform banks or whoever what we wanna do with dollar before we can buy? If that's the case i see even worser than before oo, meaning no other option!! |
Re: CBN Floats The Naira, The Implications For You And I by demmymoney(m): 5:58pm On Jun 15, 2016 |
joseph1013: No my guy its ignorance dats killing u.... Visit www.hiddensecretsofmoney.com for better understanding |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply)
Jamil Abubakar: Meet Fatima Dangote's Pilot Husband-to-be (photos) / 5 Profitable Things That Will Always Sell In Nigeria / Kuda Bank Called EFCC On My Friend Over N800k - Bryson Adah Cole
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 82 |