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CBN Officially Devalues Naira - Business - Nairaland

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CBN Officially Devalues Naira by oluvick(m): 10:48am On Feb 25, 2015
The Central Bank of Nigeria (CBN), has officially
devalued the Naira.

The devaluation took place overnight, as the
Nigerian currency will now trade at an official rate
of N199 per US Dollar.

More to follow on this story…

https://ynaija.com/cbn-officially-devalues-naira/

2 Likes 3 Shares

Re: CBN Officially Devalues Naira by kilokeys(m): 10:52am On Feb 25, 2015
officially the price of goods would skyrocket..

8 Likes 1 Share

Re: CBN Officially Devalues Naira by TharyeS(m): 11:03am On Feb 25, 2015
lirusehn:

the brained ones wud know this is gonna promote home trade






even if a Naira shud be 1000 naira..... I swear to God Almighty I shall happily vote GEJ. Buhari shud rule over is family till death comes.
#change .
#SaiGej









#lirusehn

66 Likes 4 Shares

Re: CBN Officially Devalues Naira by thinkdip(m): 11:03am On Feb 25, 2015
inflation on the rise. all Is well

10 Likes

Re: CBN Officially Devalues Naira by Vision4God: 11:03am On Feb 25, 2015
Just watching

1 Like 1 Share

Re: CBN Officially Devalues Naira by Slynonny(m): 11:21am On Feb 25, 2015
That's a good one instead of pumping in money to sustain the Naira over the Dollar.
Expect APC to campaign with this news.
In other news.
How you living Mr Ayo Fayose for exposing APC lies and propaganda?
Ans: In Mansion and Benzes giving headache to APC and it feels stupendous.
How you feeling Mr Femi Fani Kayode for dumping APC?
Ans: Am feeling good like never before.
APC is dead and is on the news.
How do you feel going back to PDP Mr Barcanista?
I feel at home.
Is been a long time coming and am glad am finally home.
Just like the biblical prodigal son i've realised my mistakes and gone back to PDP.
In Jonathan we have seen real and positive change.
Vote Wisely GEJ 2019

150 Likes 10 Shares

Re: CBN Officially Devalues Naira by ucheheart(m): 11:38am On Feb 25, 2015
What's the difference? Kukuma make it N200 na.

11 Likes 3 Shares

Re: CBN Officially Devalues Naira by SLIDEwaxie(m): 12:18pm On Feb 25, 2015
LoL
Re: CBN Officially Devalues Naira by Nobody: 12:25pm On Feb 25, 2015
Chai Jonathan's government has finished us finally...................................................................... embarassed

152 Likes 4 Shares

Re: CBN Officially Devalues Naira by Wristler: 12:31pm On Feb 25, 2015
Hmmm......all is well

1 Like

Re: CBN Officially Devalues Naira by Adminisher: 12:31pm On Feb 25, 2015
This is serious FAILURE by Jonathan. It is going to bite him HARD. Let us remember that we had foreign exchange reserves of $45bn and ECA of $22bb that was further helped by $115/barrel oil price that should have.improved. exchange rate to N70 to.the dollar. Every other OPEC country also built up reserves and developed petrochemical industry.
Jonathan did not. At N200 to the dollar most companies will soon laying off workers. All the empty half educated youths praising Jonathan will curse him soon. Shey Buhari is the one you fear now?.You are afraid of Fulani general? Soon you will beg him.

335 Likes 19 Shares

Re: CBN Officially Devalues Naira by tinkinjow: 12:40pm On Feb 25, 2015
Peg the damn thing...ignore all thee free market nonsense until you have enough leverage for exports.

10 Likes 1 Share

Re: CBN Officially Devalues Naira by Nobody: 12:42pm On Feb 25, 2015
HMMMMMMMMMMMMMMMM
Re: CBN Officially Devalues Naira by Nobody: 12:54pm On Feb 25, 2015
Adminisher:
This is serious FAILURE by Jonathan. It is going to bite him HARD. Let us remember that we had foreign exchange reserves of $45bn and ECA of $22bb that was further helped by $115/barrel oil price that should have.improved. exchange rate to N70 to.the dollar. Every other OPEC country also built up reserves and developed petrochemical industry.
Jonathan did not. At N200 to the dollar most companies will soon laying off workers. All the empty half educated youths praising Jonathan will curse him soon. Shey Buhari is the one you fear now?.You are afraid of Fulani general? Soon you will beg him.

anuofia, simple economics you don't know yet you will be typing trash every now and then on topics that are way beyond your mental capacity.

demand and supply is what determines price in a free market.

have you asked yourself what Nigerians are doing with the US dollar that has made it so scarce that the price is heading north.

has it become our legal tender or we are experiencing an artificial scarcity created by those who have an agenda.

suddenly in this period of election the dollar is no more available. the naira started losing its value when the abokis gave their brother licence to buy and sell other currencies on the streets.now they are hording it creating panic in the process.

we no longer import much of rice
we no longer import cement
we no longer import much of cars

what then is the new line of business that is drying up the available foreign currencies. those who stashed the green back in their house with the hope of releasing them when their candidate wins election are only fooling themselves because they will regret it with the new policy that is coming.

that is how they intend to stabilize the naira

134 Likes 13 Shares

Re: CBN Officially Devalues Naira by agabusta: 12:56pm On Feb 25, 2015
Kai, Iweala and Emefiele has totally messed up the economy.

Either Buhari or Jonathan wins, we need to do away with Okonjo Iweala. Obasanjo realised she was not that in-tuned to our local economy, that was why he eased her to the ministry of foreign affairs in his 2nd term.

29 Likes 5 Shares

Re: CBN Officially Devalues Naira by Nobody: 12:57pm On Feb 25, 2015
to the layman let me explain.
the clueless government didnt foresee that u.s will rely on shale and dump the brent
they were too clueless to see it, no doubt about that
so they loot and stash, $20 billion? remember? and even more, then the price of crude
drop coz america does not need our stuff again
so it was hard getting dollars, what needs to be done is to ante up the naira, so america finally says
ok, we will give you N200 for now, you cant bring it back down unless you return your stolen money


Now what is the stolen money, remember the dubious south africa arms purchase? the same arms that end up with boko haram?
so they laundered the cash through firearms purchase.

49 Likes 2 Shares

Re: CBN Officially Devalues Naira by agabusta: 12:59pm On Feb 25, 2015
ucheheart:
What's the difference? Kukuma make it N200 na.

That N200 mark has a psychological influence on the psyche of the populace, I assume that is why they pegged it at 199 (lay man's assumption).

16 Likes

Re: CBN Officially Devalues Naira by dallyemmy: 1:01pm On Feb 25, 2015
It is part of the transformation agenda

10 Likes 1 Share

Re: CBN Officially Devalues Naira by Boland(m): 1:05pm On Feb 25, 2015
Relax people, Match 28 won't be too late... wink I'm sure all will fall in place as soon as our New President swears in....
Relax.... wink



Change will definitely change things..

45 Likes 3 Shares

Re: CBN Officially Devalues Naira by Nobody: 1:09pm On Feb 25, 2015
Time to vote out this bad government.

We need change!

40 Likes 1 Share

Re: CBN Officially Devalues Naira by Nobody: 1:12pm On Feb 25, 2015
rhymaster:
[s]Nigeria returned to democratic governance in 1999 and since then, the Peoples’ Democratic Party (PDP) has been in power at the center. Nigeria has had its ups and downs since that time but what is the experience of Nigerian citizens? The Web Pollster is starting another opinion poll to gauge the mood of #nigerians regarding how they’ve fared in the past 6 years?

Are you better off now than you were 6 years ago before President #jonathan was sworn in as president after the death of President Umaru Yaradua? If the economy of a country is getting better, the people feel it before they see official published statistics. Are Nigerians living a higher quality of life now than before because they have access to better, good paying jobs, better healthcare, better education and infrastructure, power or electricity that has removed the need to invest in diesel generators? What is your perception of corruption in the country? Do you feel opportunity is being expanded for all or most of the opportunities in the land is limited to a privilege few who are in government?

Follow links in my signature, NL is blocking any information that does not or may not favour the current government.....??[/s]

Go get a life fvcking plunker. undecided

12 Likes

Re: CBN Officially Devalues Naira by Nobody: 1:13pm On Feb 25, 2015
berem:
[s]Time to vote out this bad government.

We need change![/s]

7 Likes 2 Shares

Re: CBN Officially Devalues Naira by Nobody: 1:16pm On Feb 25, 2015
Keneking:
Chai Jonathan government has finished us finally...................................................................... embarassed
finished us, how? undecided

9 Likes 2 Shares

Re: CBN Officially Devalues Naira by Bloodydemon: 1:18pm On Feb 25, 2015
Keneking:
Chai Jonathan government has finished us finally...................................................................... embarassed

Buhari is a terrorist
Apc Is bokoharam
Gej till 2019
Buhari oooooooooooooo

29 Likes 3 Shares

Re: CBN Officially Devalues Naira by karferguso(m): 1:18pm On Feb 25, 2015
if dz z true,it is going to be disastrous

3 Likes

Re: CBN Officially Devalues Naira by stevecantrell: 1:18pm On Feb 25, 2015
EURObomber are you related to GEJ ?

4 Likes

Re: CBN Officially Devalues Naira by Bloodydemon: 1:19pm On Feb 25, 2015
berem:
Time to vote out this bad government.

We need change!

Gej till 2019
Buhari is a terrorist

grin

12 Likes 1 Share

Re: CBN Officially Devalues Naira by tunex23: 1:20pm On Feb 25, 2015
Corruption everywhere, meanwhile see how Nigerians are suffering for electricity

39 Likes 1 Share

Re: CBN Officially Devalues Naira by stevecantrell: 1:23pm On Feb 25, 2015
Bloodydemon:


Gej till 2019
Buhari is a terrorist

Dude you have to look past what you think Buhari is. You need to start see buhari as a means to an end. The end of this government.

I can tell you, Buhari will never sit in Aso Rock but for a very short time only.

Voting Buhari means GEJ out ! That's all !

21 Likes 1 Share

Re: CBN Officially Devalues Naira by kaboninc(m): 1:23pm On Feb 25, 2015
oluvick:
The Central Bank of Nigeria (CBN), has officially
devalued the Naira.

The devaluation took place overnight, as the
Nigerian currency will now trade at an official rate
of N199 per US Dollar.

More to follow on this story…

ynaija.com/cbn-officially-devalues-naira/

Old NEWS!

This is how you create FALSE news and spread it with so much ZEAL and PASSION. Common sense which is common, you don't have. And people like berem will come here to rant her support for block heads like you.

There is no current 'official' rate by either the CBN or YOU. The market has been liberalized, thus allowing demand and supply to determine the exchange rate. There's a window called the [size=15pt]Interbank Window[/size]. CBN has pegged the exchange rate of the dollar from that window.

There are so many dynamics going on here but because you appear to be DULL, I should save you the PAIN of understanding!

See the peeps above me most of them typing away their intelligence and broadcasting their IGNORANCE of the SUBJECT MATTER.

Like that diluminati and Adminisher!

44 Likes 4 Shares

Re: CBN Officially Devalues Naira by Here2BustnScrew: 1:23pm On Feb 25, 2015
berem:
Time to vote out this bad government.

We need change!
pls. what change?

6 Likes

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