Tokziby:
This is a very welcome development if they are to adhere and monitor the policy because its these banks that in-turn give forex to Bureau De change and sell at higher prices. Hence, the banks should be monitored in order not to frustrate the policy

Except if I'm not getting it well, I think item 1 on that list can actually monitor the policy except if the cbn itself is not sincere cos BVN can be put to maximum use in this case.

Some people would still try to manipulate this one. I have stated it several times that we should stop depending on the CBN and BDC's for forex. CBN and the BDC's can never be able to cover the demand for US Dollars especially now that US Dollars is being used to import garri and US Dollars are being used by our politicians to visit Buhari in the United Kingdom.

Let us that are not in government hussle and earn our own forex and repatriate it to our domiciliary accounts in Nigeria. If just 200,000 Nigerians click the link on my signature and start earning US Dollars everyday the positive effect on the naira would be enormous.

Temporary and unsustainable measures will only worsen the naira dollar situation.

Real Solution, stop importation of rubbish, what's wrongs with our schools, why can't govt fix our schools.

Is Oil the only Forex earner in country.?

As long as our imports outgrow our exports the situation wont improve,

The outcome of the closed door meeting heard at VP office with Sanusi

kabrud:


Except if I'm not getting it well, I think item 1 on that list can actually monitor the policy except if the cbn itself is not sincere cos BVN can be put to maximum use in this case.

No i don't think so cos its easy for them to sell the forex to their cronies instead of customers and get kick-backs from the sale in the black market. Banks are the major source of corruption in this country, they help politicians to keep looted monies, keep government money and earn interest, charge customers on senseless service, Transfer looted monies abroad.
I just wish the Efcc can up there game in technology to arrest all this scams called banks in Nigeria. Make IRS for US or HMRC in UK just borrow us some technology to keep their ass in check

please click the link and sign the petition urging the cbn and federal govt to ease the forex laws as it is causing untold hardship to millions. It isn't certain this would work but its better than nothing. please sign and share

https://www.ipetitions.com/petition/buhari-emefiele-cbn-please-relax-the-current

tribalistseun:
Buhari ban all these rule to destroy Nigeria economy.

After things have gone bad for businesses, he's now doing a U-turn

this is not a u turn it benefits the rich

why didn't they do it for food items?

iliyande:


http://www.premiumtimesng.com/news/headlines/224109-11-benefits-nigerians-enjoy-cbns-new-forex-policy.html

That would be great if they can do it.

This is good

New policies being churned out every other month is not helping matters. Unstable as water doesn't excel. The cbn governor ought to be retired or sacked for incompetence already.

All these will end one day. For, after difficulty comes relief.

The amazing thing about all this is that dollars will be provided by CBN but 70% of the masses that need it most for essentials dont always get it.The issue is not only about supplying the dollars but to ensure each dime is carefully followed to know who get it and for what purpose.

confuse set of people manning cbn

Would be really nice.......dats if it is actually implemented

Indeed, its a nice development.
I really hope it will be actualized.

Bimpe29:
All these will end one day. For, after difficulty comes relief.

For how long are we going to wallow in difficulty?

NNVanguard:
Trial and Error government and administration of hardship and untold deception.

Am 100% certain that you can't decode the message!

Your hate filled mind won't let you coupled with a substandard education that can't permit you to assimilate.

Unless you can walk into any bank and buy dollar at any time cash or sell your dollar cash...until such a time, all these hikes will continue. These policies will not still be implemented.

Which business will keep waiting for bank procedures abroad when hustling in the market?



Click My Name and View the resource you need!

joinnow:
confuse set of people manning cbn

Can you do better than them?

shamecurls:


Can you do better than them?

Big Yes

so what is the fate of BDC currently selling FX to Travelers and others?

Abeg they should stop all this CBN evil policies jare. It is when the dollar rate reach 1000 naira that they will now think of devalue the naira.

Try and error economics

another Trial and Error

How about implementing these rules
Nigeria still have a very long way to go
2 steps forward 20 steps backward

I hope this isnt another white elephant policy

Abeg make somebody explain this in lay terms

5. All retail transactions to be settled at a rate not exceeding 20 per cent above the prevailing inter-bank market rate.

Sounds good. They should also allow Pple to be able to use their cards abroad.

Cool

sfinkzslot:
Abeg make somebody explain this in lay terms


5. All retail transactions to be settled at a rate not exceeding 20
per cent above the prevailing inter-bank market rate.

In layman's language it means persons other than the banks e.g BDCs or mallam on the road, should not sell dollar more than 20percent above cbn rate. For example, if banks sell at 320 per dollar, BDCs should not sell above 384 per dollar i.e 20percent of 320

8. CBN’s forward sales tenor significantly reduced from the current maximum cycle of 180 days, to no more than 60 days from the date of transaction; Pls, someone should make the above statement clearer. Thanks.

THE CBN SHOULD EXPLAIN TO US WHAT IS THE DIFFERENCE BETWEEN N305 INTER BANK RATE AND N520 black market RATE.......THEN COMPARE IT TO THE NEW N375 HOSPITAL AND SCHOOL FEES BILL PAYMENT ABROAD...........I HAVE A DREAM, THE DOLLAR WILL REACH N700 BEFORE MAY 29, 2017........MARK MY WORDS