change i guess

Ghen Ghen Ghen Ghen Ghen! Dis one na movie!

abhosts:
The Banks have been setting their own rates since the Naira Decline Started.

All this Grammar just to tell us things would remain the same.

325 per dollar

MKO4ever:
This is the best decision this government has taken since they assume power.
And I say congrats to all of us and welcome to a new Nigeria to begin on Monday.
Naira is already appreciating against the dollar (closed at N340 yesterday)
And I say just watch and see what will happen to the currencies on Monday
Within 2 weeks we will all see what will happen to the commodity prices including petrol
This bold step could have been taken a year ago, but as they say it is better late than never

In a year things should be a bit stable if they don't put politics into it again

IVORY2009:


325 per dollar

You expect dollar/=N= to close at that rate on Monday?

What we have been crying for this government to implement for long. I hope the tales i'm hearing of the dollar now pegged at 197 Naira is not true.

Is there any bank at the moment that charges 280naira for a dollar

goodlifehyd:
I think this is a nice idea thou, could remember when you have to cough out thousands to open an account but now that there are alot of competitions in the market some are even begging to give you an account for free, similarly when you peg your dollar at 360 and Bank B is selling for 300 nobody go tell you to drop ur price or else your customers go just vanish like wind

Well me just dey pass-by

Price should drop to about 250-260 eventually

Bereau De Change people nkò?

Hmmm...leme go & make necessary purchases for nxt month, & maybe d upper one. I no trust Emefiele & his gang of bank thieves; they don't have mercy on poor masses at all!!!

Osgilliat:
This is cool.. You will have to be go from banks to banks to determine the one that will favors you. Thanks to God I'm not having account with only one bank. Let the negotiation begins.

This sounds good to hear, but sure will soon be back to share the experience

MKO4ever:
This is the best decision this government has taken since they assume power.
And I say congrats to all of us and welcome to a new Nigeria to begin on Monday.
Naira is already appreciating against the dollar (closed at N340 yesterday)
And I say just watch and see what will happen to the currencies on Monday
Within 2 weeks we will all see what will happen to the commodity prices including petrol
This bold step could have been taken a year ago, but as they say it is better late than never

Please can u explain to me fully in LAYMAN LANGUAGE what are they going to do on monday about the DOLLAR v NAIRA ?

seguno2:
Good thing that our president is finally abandoning his tight fist, command economy, which has killed our country in just one year.

If he wasn't tight fisted this brilliant idea wouldn't have come up.

HAH:
Simply put the power of demand and supply will determine the price

While this is good, hope the FX cabal will not create a hegemony and shortchange the public

Hello this is Nigeria. Everything is possible.

Heeeeeeeegh, abeg let them wait beyond monday so I can go and convert my money back to naira. I bought at #357/$. With a spread of #1, I don't think the exchange rate will be anything in the neighbourhood of even #350/$.

Ussyberry:
Where is the list of the 8 to 10 participants?

It was supposed to be released ysday!

All banks are now primary dealers. All banks have been appointed primary forex dealers so as not to make the public withdraw their money from non primary dealers/banks.

MKO4ever:
This is the best decision this government has taken since they assume power.
And I say congrats to all of us and welcome to a new Nigeria to begin on Monday.
Naira is already appreciating against the dollar (closed at N340 yesterday)
And I say just watch and see what will happen to the currencies on Monday
Within 2 weeks we will all see what will happen to the commodity prices including petrol
This bold step could have been taken a year ago, but as they say it is better late than never

bro no vex o i beg explain to me in simple term how this new policy ll help the naira.

Because i am thinking commercial banks ll decide to do as they like as the government have given them the free hand to control the exchange rate.

damiplovR:
[b][/b] whatever they like they should do. My own is they should not touch the remaining change in my akkant .. Na everytime dem dey collect card maintenance charge for card that I'm holding and maintaining myseff

Which bank is that?

MKO4ever:
This is the best decision this government has taken since they assume power.
And I say congrats to all of us and welcome to a new Nigeria to begin on Monday.
Naira is already appreciating against the dollar (closed at N340 yesterday)
And I say just watch and see what will happen to the currencies on Monday
Within 2 weeks we will all see what will happen to the commodity prices including petrol
This bold step could have been taken a year ago, but as they say it is better late than never

I keep reiterating that until the yuan is also introduced, we may see a further appreciation of the dollar against the naira.

Majority of people who buy dollars are importers from Japan and China so if the yuan is integrated, the demand on dollar will drastically reduced thereby forcing a sharp appreciation of the naira.

Lai Mohammed should throw more lights please.

Special announcement! Round tripping bazaar in the banks starts on Monday peeps! I pity the Naira!

damiplovR:
[b][/b] whatever they like they should do. My own is they should not touch the remaining change in my akkant .. Na everytime dem dey collect card maintenance charge for card that I'm holding and maintaining myseff

change bank.

Adesiji77:

You expect dollar/=N= to close at that rate on Monday?

Mistake =N=225

So will this prompt the resumption of PTA and BTA sales

mmadubugwu:


Which bank is that?

Gtbank fa

MKO4ever:
This is the best decision this government has taken since they assume power.
And I say congrats to all of us and welcome to a new Nigeria to begin on Monday.
Naira is already appreciating against the dollar (closed at N340 yesterday)
And I say just watch and see what will happen to the currencies on Monday
Within 2 weeks we will all see what will happen to the commodity prices including petrol
This bold step could have been taken a year ago,
but as they say it is better late than never

You are making a big mistake in a dreamland.Have you ever heard of corporate conspiracy? This happened in the NSA. ..THE BANKING SECTOR, I can say it, the financial institutions will conspire to defraud Nigerians within 3 months of the kick off. They now see dz as an avenue to make up all the profits dt delude dm as a result of global oil crash. Mark my words, the financial institutions are only after profit making, they would end up selling the dollar above 400 b4 the ending of October. This people are very greedy and wicked, we are a nation dt imports almost 85%of our domestic needs. Remember, dz same ppl told government of Nigeria to stopped paying western union. moneygrams and others in foreign currencies, after paying you the naira equivalent. ..they sold your foreign $€£ at an exorbitant price .This is the beginning of recession, A kind of set up for PMB. .....Let's wait and pray for the best for our darling nation.

goodlifehyd:
I think this is a nice idea thou, could remember when you have to cough out thousands to open an account but now that there are alot of competitions in the market some are even begging to give you an account for free, similarly when you peg your dollar at 360 and Bank B is selling for 300 nobody go tell you to drop ur price or else your customers go just vanish like wind

Well me just dey pass-by

I am sorry, had to check your profile after reading your comment. So, bank a will peg it's dollar sale at 360 and bank b will be 300...so, Nigerian bank now prints dollar to the extend that they can choose to crash it anyhow.

Guy are you sure you are Nigerian Representative for MAXCURE Hospital INDIA?

you are inviting him to lie again, right?

Metete60:
Lai Mohammed should throw more lights please.

No b today yanch dey back, it has taaaaayyed.

MKO4ever:
it's a public knowledge already, what planet are you living in?

☺ Nairaland planet after Pluto...

MKO4ever:
it's a public knowledge already, what planet are you living in?

lol

Remii:
I guess it should be tabulated in newspapers and available on cbn websites just like their interest rates

@ remii..you are the only one that just hit the nail @ d right spot. All Nigerians have to confirm that CBN has done the right thing faithfully or transparency in all FX transactions by daily posting via every media channels available.

I wish to know you. I believe this move should affect Mastercard and Visa Card holders denominated in Naira for foreign transaction via online and ATM @ dia said commercial bank rates.

Am confused about one thing, Will all commercial banks have a unitary rate or different rate ?