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24 Hours After New Policy, CBN Injects $371m Into Forex Market - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / 24 Hours After New Policy, CBN Injects $371m Into Forex Market (18491 Views)

Naira Climbs To N360.55/$ As CBN Injects $210 Million / CBN Injects $482.6m Into Forex Market, Naira Gains / CBN Injects Another $100 Million Into Forex Market (2) (3) (4)

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Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by onatisi(m): 7:25am On Feb 22, 2017
kabrud:

I pray they should be able to.
Forget it,they cant..
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by niyifour(m): 7:26am On Feb 22, 2017
Oba
Wating
You
Talk

Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by ajalawole(m): 7:26am On Feb 22, 2017
hungryboy:
This Buhari Government mumu no be small

Even me were no go school sabi say

Selling of dollars to banks no go help

Cos bank managers go still hoard the dollars were dem buy 360 naira

Carry am go sell give their Bureau de change friends at 500 naira




Make cool millions in profit




The best thing is for the Cbn to sell dollars directly to importers and companies who are about to purchase things abroad
i tell u bro. The worst thing is the people that need it
will never get it.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by kabrud: 7:27am On Feb 22, 2017
onatisi:

Forget it,they cant..

Well, I'm an optimist.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by DonCortino: 7:27am On Feb 22, 2017
PapaBrowne:
Hmmm!

Osibanjo is doing wonderfully.

Buhari apparently was the problem all along.

As was in 1983, so was 2016.

Buhari must be urged to attend to his health for the next 2 years let Osibanjo fix the mess he created.

So it was not GEJ's fault afterall as all apc politicians and their zombies usually claim.

Hmm
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Nobody: 7:27am On Feb 22, 2017
grin grin grin grin
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by 989900: 7:28am On Feb 22, 2017
It is a shame the CBN can't think of smarter ways, oh, I forgot, smarter ways will rob them of their illicit shenanigans.

1 Like

Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by onatisi(m): 7:31am On Feb 22, 2017
#000000
kabrud:


Well, I'm an optimist.

$371 million dollars for 7 days wont have a lasting impact. It must be sustained continuously for 10 days before changes can occur. What about oil subsidy which they have to pay ?when Nigeria government brings up things like this ,know very well.they are about to pull a shocker on Nigerians.. Fuel price hike is coming

3 Likes

Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by sniperr007(m): 7:31am On Feb 22, 2017
CoolFreeday:
waooo, that nice. this will make paying of school fee easier for those schooling outside the country.

Make we dey watch. I need it easier & cheaper.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by lollmaolol(m): 7:37am On Feb 22, 2017
BiafranBushBoy:
Mtcheeww...

As usual, the big guns will hoard it and declare scarcity!!

They don't care about us one bit!!!!!

Failed country!!

That's the craze
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by elhafeez(m): 7:37am On Feb 22, 2017
they will buy and hoard it. we know them and they know we know.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Mayflowa(m): 7:38am On Feb 22, 2017
hungryboy:
This Buhari Government mumu no be small

Even me were no go school sabi say

Selling of dollars to banks no go help

Cos bank managers go still hoard the dollars were dem buy 360 naira

Carry am go sell give their Bureau de change friends at 500 naira




Make cool millions in profit




The best thing is for the Cbn to sell dollars directly to importers and companies who are about to purchase things abroad


As simple as your suggestion, it is not practicable! CBN do not deal directly with customers by their mandate. They do that through the instrument of banks. That is why they are called bankers' bank. They regulate fiscal and monetary policies not to sell crayfish in the market. How would they even meet the numerous demand of the country? Do you know the logistics involved? We all have moral obligation to play as citizens when it comes to helping our economy and there should be increased monitoring of enacted policies with offenders brought to book.

2 Likes

Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Nobody: 7:43am On Feb 22, 2017
Mayflowa:


As simple as your suggestion, it is not practicable! CBN do not deal directly with customers by their mandate. They do that through the instrument of banks. That is why they are called bankers' bank. They regulate fiscal and monetary policies not to sell crayfish in the market. How would they even meet the numerous demand of the country? Do you know the logistics involved? We all have moral obligation to play as citizens when it comes to helping our economy and there should be increased monitoring of enacted policies with offenders brought to book.


Desperate times demands desperate measures.

Anything is possible, original mandate regardless.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by rusher14: 8:06am On Feb 22, 2017
BiafranBushBoy:
Mtcheeww...

As usual, the big guns will hoard it and declare scarcity!!

They don't care about us one bit!!!!!

Failed country!!

Probably true but can you explain who the "small ones" are that need dollars?

1 Like

Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by ViczonaNg: 8:08am On Feb 22, 2017
$371m won't do anything. It won't have any impact on this current forex issues. The forex demand of just one bank daily is above $400m and you are sharing $371m to all banks whether it's for school fees or anything,it won't make any impact. They should reverse all forex policies because they aren't working and employ experts to help them get what they want.

1 Like

Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by berrystunn(m): 8:11am On Feb 22, 2017
Open more doors for corruption

Thank you sir....
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by japhethGold: 8:16am On Feb 22, 2017
The CBN governor himself is a forex rigger; he connives with his accomplices in commercial banks in Lagos to carry out this act. I hope whistle blowers will soon catch up with him.

God help Nigeria.

PMB is helping Nigeria!
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by kellybently(m): 8:21am On Feb 22, 2017
hungryboy:
This Buhari Government mumu no be small

Even me were no go school sabi say

Selling of dollars to banks no go help

Cos bank managers go still hoard the dollars were dem buy 360 naira

Carry am go sell give their Bureau de change friends at 500 naira




Make cool millions in profit




The best thing is for the Cbn to sell dollars directly to importers and companies who are about to purchase things abroad

even the importers ll use it as business instead of importing
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Karlman: 8:24am On Feb 22, 2017
FOOLS IN GOVERNMENT. WHO BORROW THEM BRAIN?
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by yinkslinks(m): 8:25am On Feb 22, 2017
It will still flop.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Boyooosa(m): 9:10am On Feb 22, 2017
netflicks:
If they like dey can inject a trillion dollars but I tell u dis dollar is like a virus it won't rest until it hits N1000 then it can relax...as for CBN and APC endless policies, pls dey shd stop making the news coz am tired of reading their unrealistic policies.. .. sad
Close your eyes and say good bye na!
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Nobody: 9:16am On Feb 22, 2017
hungryboy:
This Buhari Government mumu no be small

Even me were no go school sabi say

Selling of dollars to banks no go help

Cos bank managers go still hoard the dollars were dem buy 360 naira

Carry am go sell give their Bureau de change friends at 500 naira




Make cool millions in profit




The best thing is for the Cbn to sell dollars directly to importers and companies who are about to purchase things abroad

As an importer, instead of importing raw materials or goods to make products and sell, I could easily collect the dollars and sell them in the black market.. I will make more money without risking money in producing what people may not buy, but I can make quick money without doing anything.. Cbn cannot hold me, if they do I can show them my old stocks and tell the I just ought them. But the bank is the only bet because companies have to buy from them, and the bank would only pay the dollars to the company the importer is paying to, the bank will verify the transactions and are accountable to cbn. Before u question, the system, be sure u understand why it is like that
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by BiafranBushBoy: 9:20am On Feb 22, 2017
rusher14:


Probably true but can you explain who the "small ones" are that need dollars?

Mtcheeww!!
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Ijaya123: 9:28am On Feb 22, 2017
hungryboy:
This Buhari Government mumu no be small

Even me were no go school sabi say

Selling of dollars to banks no go help

Cos bank managers go still hoard the dollars were dem buy 360 naira

Carry am go sell give their Bureau de change friends at 500 naira




Make cool millions in profit




The best thing is for the Cbn to sell dollars directly to importers and companies who are about to purchase things abroad

Direct your suggestions to the mumu CBN governor called Emeifele.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by sosy25: 10:28am On Feb 22, 2017
The $371 million would not solve the forex scarcity. Especially now that importers are also importing garri. I have adviced Nigerians several times to stop depending on the CBN and BDC's for US Dollars. Nigerians can while living in Nigeria earn their own US Dollars outside the country and repatriate it to their domiciliary accounts in Nigeria.

If you are interested in earning your own US Dollars check my signature.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Nobody: 12:57pm On Feb 22, 2017
Icecomrade:


Buhari and his fellow Mallams needs to stop dollar trade .

They are ripping Nigerians off by depreciating Naira value.

CBN just simply injected more dollar for them to trade with.

They keep injecting forex and Naira keeps falling.

Its 520 today, whatever CBN injected would only steady it for few days and the trend will continue.

Hiss







You think they don't know these things
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by ahmedbrown: 1:15pm On Feb 22, 2017
This can only have positive effects on the populace only if the CBN can increase the purchasing power on the Naira card for international online transactions.
Re: 24 Hours After New Policy, CBN Injects $371m Into Forex Market by Icecomrade: 1:50pm On Feb 22, 2017
mykl01:



You think they don't know these things

They should stop decieving Nigerians

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