We Can’t Float Naira, Cbn Tells Imf - Business (2)

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We Can’t Float Naira, Cbn Tells Imf - Business (2) - Nairaland

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We Have Enough FOREX, CBN Tells Investors / It Is A Criminal Act To Deface Naira – CBN Warns Nigerians / Recession: It’s Up To You, CBN Tells Government (2) (3) (4)

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Re: We Can’t Float Naira, Cbn Tells Imf by Fluidelvis(m): 7:47am On Apr 22, 2017

Most times these foreign economists don't take in d dynamic peculiarities of each independent nation. They just sit back within the confines of their own good economies & generally speculate.. ThankGod we still have some level-headed directors at CBN! Wey don sire

8 Likes 3 Shares

Re: We Can’t Float Naira, Cbn Tells Imf by Victornezzar: 7:48am On Apr 22, 2017

alizma:
world Bank is bank is evil

U 4 just speak pidgin na grin

4 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by donbenie(m): 7:49am On Apr 22, 2017

Allowing the Naira to float is not in the best interest of a country with little or no economic diversity,a Naira at #700 to the dollar benefits only the speculators and economic Saboteurs..
IMF and Co are living in a synthetic bubble without putting the country's practical situation into account,l say kudos to the CBN for rejecting this half baked advice..Who IMF epp?

5 Likes 1 Share

Re: We Can’t Float Naira, Cbn Tells Imf by Nobody: 7:50am On Apr 22, 2017

You don't float your local currency! Not with so much foreign exchange speculators and holders! You will make them too rich!

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Re: We Can’t Float Naira, Cbn Tells Imf by Adagba01: 7:51am On Apr 22, 2017

Good actions from team Emefiele. But, he was there Buhari came and I have never seen him being meticulous like this.

1 Like

Re: We Can’t Float Naira, Cbn Tells Imf by breezeng: 7:51am On Apr 22, 2017

Our Government will be so foolish to float Naira again with d bad result from previous one. I know this government is using trial and error method. They have tried it,and it didn't work. Why going back to d policy

Re: We Can’t Float Naira, Cbn Tells Imf by menxer: 7:51am On Apr 22, 2017

nairaman66:

Central bank of nonsense

That syncs well with your moniker.
grin

Re: We Can’t Float Naira, Cbn Tells Imf by breezeng: 7:52am On Apr 22, 2017

Please don't float Naira if you don't want to kill the poor. The semi floating d cbn did did no good but raised dollar to over 500. Kudos to cbn for their intervention. Those crying for floating are doing it for there business and selfish intrest.

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Re: We Can’t Float Naira, Cbn Tells Imf by Abagworo(m): 7:52am On Apr 22, 2017

No oil dependent economy is doing as well as Nigeria.

7 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by rottennaija(m): 7:52am On Apr 22, 2017

Basically, Nigeriana are so wicked even to themselves

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Re: We Can’t Float Naira, Cbn Tells Imf by Nobody: 7:54am On Apr 22, 2017

Keemy88:
Shebi una float our currency last year. You guys are just foolish in my opinion. It was the same floating of the currency that skyrocketed the naira to 400 to a dollar.

When you saw naira was at 500 naira to a dollar, CBN now started their late die minute dollar invasion to the bank and bureau de change.

You people should float again you hear ...mumu people...

Who even brought the devilish idea to float our currency last year in the first place...that the Emefiele of a person approved.

APC government sha...kai..I weep for Nigeria.

They float the dollar last year! It naira couldn't get strength in the market tho... Well they didn't think it well in the first place. You cant float the dollar with the factors around our market, where you have more than one or two exchange rate! It was a no brainier from start!

Re: We Can’t Float Naira, Cbn Tells Imf by donbenie(m): 7:54am On Apr 22, 2017

YelloweWest:

Pls explain what the floatation means. Thank you

It means allowing the Naira to be BATTERED by the forces of Demand and Supply without government interference,in other words giving Speculators a field day to finish off the Naira..

3 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by sweetilicious(f): 7:59am On Apr 22, 2017

breezeng:
Please don't float Naira if you don't want to kill the poor. The semi floating d cbn did did no good but raised dollar to over 500. Kudos to cbn for their intervention. Those crying for floating are doing it for there business and selfish intrest.

Exactly

1 Like

Re: We Can’t Float Naira, Cbn Tells Imf by alizma: 7:59am On Apr 22, 2017

Keemy88:
Shebi una float our currency last year. You guys are just foolish in my opinion. It was the same floating of the currency that skyrocketed the naira to 400 to a dollar.

When you saw naira was at 500 naira to a dollar, CBN now started their late die minute dollar invasion to the bank and bureau de change.

You people should float again you hear ...mumu people...

Who even brought the devilish idea to float our currency last year in the first place...that the Emefiele of a person approved.

APC government sha...kai..I weep for Nigeria.

Hatred has destroyed you so much that you don't even understand what you read before you make comment any more. your statement about CBN dollar intervention also shows that you don't even have knowledge as to how the economy functions.

Re: We Can’t Float Naira, Cbn Tells Imf by maasoap(m): 7:59am On Apr 22, 2017

KingLennon:
President Buhari government don weak me o

At least, you're smart enough to see where the four tyres are facing. That's the direction.

3 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by alizma: 8:01am On Apr 22, 2017

Victornezzar:
U 4 just speak pidgin na

lol, I won occupy space ni

Re: We Can’t Float Naira, Cbn Tells Imf by Victornezzar: 8:02am On Apr 22, 2017

alizma:

lol, I won occupy space ni

kai u no go make heaven cos of all dis tinz ooo

Re: We Can’t Float Naira, Cbn Tells Imf by verygudbadguy(m): 8:03am On Apr 22, 2017

kitaatita:

If you follow developments, so called economists had pressured Mr. Buhari when he refused to float the Naira. When CBN eventually experimented with the naira float, the economy was torn to shreds and benefited only the criminals. I hope CBN is wiser now, no should mean no.

The IMF, World bank and other international agencies see Nigeria as a normal country. Hence, the reason for their frequent advice on currency floating. All things being equal, float will make a normal country's currency to find its place, its through value.

But in an abnormal setting like Nigeria, float will sink the Naira. This Oyinbos no dey see wetin we dey see. Those Fiscal and Monetary policies we studied as an economics grad can never work in this country if we remain abnormal.

When some people stashed million of dollars somewhere and created artificial scarcity of the currency, Oyinbo sabi dat one.

Kudos to CBN, they have learnt their lessons.. Do whatever works to save our Naira..

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Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:03am On Apr 22, 2017

YelloweWest:

Pls explain what the floatation means. Thank you

It means letting market forces (demand and supply) determine the value of your currency as opposed to pegging it to the dollar as we are doing now. What naija is doing is that it is artifically trying to boost the value of the naira which doesn't sound so bad to the average person but in reality it makes no sense because in other to do this, you have to dig into your foreign reserves to do so. That's why foreign govts, organizations and outside investors have continually told the CBN to let the naira float instead of trying to artifically prop up the naira but our govt does not want to do so.

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Re: We Can’t Float Naira, Cbn Tells Imf by nkemma54(m): 8:04am On Apr 22, 2017

fatymore:
What does floating means...
An innocent question thou

A floating exchange rate is a regime where the currency price is set by the forex market based on supply and demand compared with other currencies. This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate.

Re: We Can’t Float Naira, Cbn Tells Imf by Rogersmith(m): 8:04am On Apr 22, 2017

Abagworo:
No oil dependent economy is doing as well as Nigeria.

It is a miracle I tell you. Look at the sorry state of Venezuela...

3 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:05am On Apr 22, 2017

MabraO:
Can they speak in English pls

What they are simply saying is that the fed govt should stop artificially trying to prop up the naira and let the market determine its true value.

3 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by verygudbadguy(m): 8:06am On Apr 22, 2017

Fluidelvis:
Most times these foreign economists don't take in d dynamic peculiarities of each independent nation. They just sit back within the confines of their own good economies & generally speculate.. ThankGod we still have some level-headed directors at CBN! Wey don sire

Exactly... The naira sank under 1 yr with the semi float they did. If they agree again, na 1000 we dey go.

2 Likes 1 Share

Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:07am On Apr 22, 2017

Hawlahscho:
I dont even know the meaning of FLOAT NAIRA, it sounds fine to ears abi.. To sink something is not good I suppose.

Someone that understands should pls explain to me.

What they are simply saying is that the fed govt should stop artificially trying to prop up the naira and let the market determine its true value.

1 Like

Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:07am On Apr 22, 2017

sammyscholar:
I agree with the apex bank on this.

What is an apex bank?

Re: We Can’t Float Naira, Cbn Tells Imf by alizma: 8:09am On Apr 22, 2017

Victornezzar:

kai u no go make heaven cos of all dis tinz ooo

hahaha, if God de reason like you, your entire family go burn for grave before the judgment day.

Re: We Can’t Float Naira, Cbn Tells Imf by AdeniyiA(m): 8:11am On Apr 22, 2017

emmanuel2015:
CBN
Who knows the full meaning?

Confusing Bulk of Nigerians

2 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:12am On Apr 22, 2017

Rogersmith:

It is a miracle I tell you. Look at the sorry state of venuzeula...

Trust me, Nigeria is not that far off from Venezuela. In fact, we are doing almost the same thing Venezuela is doing. The only difference is that they are a socialist state and we are sort of a capitalist/oligopoly

3 Likes 1 Share

Re: We Can’t Float Naira, Cbn Tells Imf by mrvitalis(m): 8:12am On Apr 22, 2017

YelloweWest:

Pls explain what the floatation means. Thank you

It means allowing the value of ur currency to be determined by only forces of supply n demand ...government will remove their hands from defending the naira

2 Likes

Re: We Can’t Float Naira, Cbn Tells Imf by Nobody: 8:12am On Apr 22, 2017

How can foreign investors come into the country in the absence of electricity supply,security,government incompetency and political instability?

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Re: We Can’t Float Naira, Cbn Tells Imf by Temptee101(m): 8:13am On Apr 22, 2017

blackpanda:
90% of the people that will comment here have no clue about the laws of economics and fiscal policies. Is all about apc-pdp, buhari-jonathan, north-south. Zero education!

Re: We Can’t Float Naira, Cbn Tells Imf by obailala(m): 8:15am On Apr 22, 2017

Guyman02:
The CBN spokesman mr Okoroafor called IMF request 'laughable', the Nigerian economy is better managed in the hands of Igbos (no tribal sentiment implied) because they will never ever trust the white man as sincere in his policies towards Africa and the British knew this which made them to ensure that power is skewed to the region that is more malleable.
Igbos believe in home grown solutions to economic problems and not from any foreign group which tries to pretend to be more clever than Nigerians.

Is this particular self adulation/encomium/patronisation really necessary?.... This is the exact sort of supremacist statements that fuels tribal envy/hate and the needless tribal fights.

1 Like

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