no na. make una leave am. make Nigeria scatter finish. useless APC government. spit

Seun:
Its better than stubbornly clinging to policies that are not working.

Brotherly please help me confirm if this news is really from CBN, so I know what to do.
Can't see it on their site.
Thank you

menwongo:
This news seems fake, can't see it on major Nigeria newspaper

lolsss...na true oooo...

Economics is all about human behaviours, so quite difficult to say this is one thing that'd sort us out. However, if we can sort out infrastructure and regulation summersaults out of selfishness, then we can be great. For instance, is recession our big problem, I say no, but loss of value of our currency.

Domestic production is key for a country of our population size.

deebsman1:
I am not an economist or an economic expert but can't they find a long time sustainable solution to this country's macro problem once and for all

Electroweb:
How will the local entrepreneurs be encouraged?

my Brother, forget local entrepreneurs...Their items are always overpriced especially that palm oil.... Now that palm oil can now be imported, local price go fall yakata...It is a good policy

LionDeLeo:
Not good actually.

Items with indigenous substitutes should remain banned.

like which items

Employment generation things.

My thought though.

Imagine, lifting this ban after some individuals have committed some resources into agriculture.

Splashme:
So, where is that gorilla from Ota Farm? What does he have to say?

I remember how Obasanjo insulted GEJ for allowing importation of toothpick

The man enjoys seizing every opportunity to insult GEJ.

Honestly, Jonathan is too humble for allowing Obasanjo to continue abusing him gleefully at every available opportunity. People will say seniority, but what sort of seniority is that? An old man that is refusing to respect himself.

why did Jonathan give the gorilla opportunity to abuse him.

Splashme:
So, where is that gorilla from Ota Farm? What does he have to say?

I remember how Obasanjo insulted GEJ for allowing importation of toothpick

The man enjoys seizing every opportunity to insult GEJ.

Honestly, Jonathan is too humble for allowing Obasanjo to continue abusing him gleefully at every available opportunity. People will say seniority, but what sort of seniority is that? An old man that is refusing to respect himself.

why did Jonathan give the gorilla opportunity to abuse him. why was he ineffectual if he doesn't like abuse

JohnXcel:
So you want to tell me we can't produce our own ''toothpicks''

SMH!

can you?
will you?

imsuboi:
LOOOOOOOOOOOOOOOOOOOOOOOL.

and some people say this administration has a plan?
buhari is the epitome of confusion, mental _retardation, backwardness and stvpidity.


Now who's the ineffectual buffon?

so?
koko be say it's better to keep trying different buffoons till we get a sensible one instead of repeating the same one that failed again. better to suffer for 8 years than 16

deebsman1:
Solution coming too late!

when would've been good?

Please why the policy in d first place?

to defend the naira for dia mind

and to hammer

Policy somersault like someone above me said? Honestly all dis taking 1 step forward 2 steps backwards is what has been killing us as a country for many years and we don't seem to understand.

what have you DONE to change it

Either good or bad, we need to learn how to make a policy and stick to it all thru, it's so sad we ain't ready to move forward as a nation.

we should hold on to bad policy?
I see, no vote for you, ever

Now that prices of consumer products have skyrocketed up, are they going to come down back? Giving d greedy set of human beings we are. Assuming its in a country where there is a functional consumer pricing check agency now, it would have been beta

mikolo80:
can you?
will you?

Can you? Yes.

Will you? NO!

JohnXcel:
Can you? Yes.

Will you? NO!

at least you even try de honest. so why you carry am for head since you don't wanna change it and how would you change it BTW, I'd like to hear any ideas you have

I knew from day one that this govt is clueless, toothpick of all things you agree to resume importing or you guys are looking for a loophole to steal as customs did not generate enuf income abi, Bubu, the clueless one , boko haram still dey release video ,they kill our soldiers.

mikolo80:

like which items

Rice, palm oil products, frozen fish, processed meat, poultry products, etc.

I know guys who have committed fortunes in farming some of these agricultural products.

Actually, govt can always reverse its decisions when those decisions are obviously not helping matters but I don't think it can be wrong to ban the importation of some (almost raw) agricultural products in Nigeria with its vast arable land.

If you are thinking of people's complain, pls can you name any govt policy that was ever embraced by Nigerians? Just one pls.

Anyway, I just have a feeling that the govt wants to further reduce the pressure on the demand for dollars.

If registered marketers can access the dollars at the official rate (306/$), certainly, the dollar must come down from 390 at the black market rate.

My thought though.

LionDeLeo:


Rice, palm oil products, frozen fish, processed meat, poultry products, etc.

we're nowhere near self sufficient in any of these products. not even close.

I know guys who have committed fortunes in farming some of these agricultural products.

so we should buy food expensive cos ppl spent fortunes? that's capitalism and globalisation. especially in a country like ours that is wide open for dumping

Actually, govt can always reverse its decisions when those decisions are obviously not helping matters but I don't think it can be wrong to ban the importation of some (almost raw) agricultural products in Nigeria with its vast arable land.

banning is not the solution but providing loans and land and tractors and irrigation dams and canals

If you are thinking of people's complain, pls can you name any govt policy that was ever embraced by Nigerians? Just one pls.

no govt makes policy because they like they're ppl. they do it cos the ppl vote for it. Nigerians only vote for rice, religion and tribe

Anyway, I just have a feeling that the govt wants to further reduce the pressure on the demand for dollars.

no emefiele is trying to keep his job if VP becomes president

If registered marketers can access the dollars at the official rate (306/$), certainly, the dollar must come down from 390 at the black market rate.

no it can't be long as we don't increase our production

My thought though.

mikolo80:
we're nowhere near self sufficient in any of these products. not even close.



so we should buy food expensive cos ppl spent fortunes? that's capitalism and globalisation. especially in a country like ours that is wide open for dumping


banning is not the solution but providing loans and land and tractors and irrigation dams and canals

Trust Nigerians, this policy will still be hijacked.

And indeed, my bank has just informed me of this development;
Fill Form Q and other bla bla bla to access maximum of $20k quarterly, even though I'm not a businessman.

And since my job takes me to countries like China, Japan, India and some European countries regularly, with some little wuru wuru with some bank officials, you know the rest. Imagine getting $20k at 306/$ when you can sell same at 390/$.

In the final analysis, the purpose will end up being defeated.

If the govt has sufficient dollars, why not expand foreign withdrawal of Naira-denominated accounts to at least $1000 monthly? Yes, $1k monthly to check the much talked about round tripping.

LionDeLeo:


Trust Nigerians, this policy will still be hijacked.

And indeed, my bank has just informed me of this development;
Fill Form Q and other bla bla bla to access maximum of $20k quarterly, even though I'm not a businessman.

And since my job takes me to countries like China, Japan, India and some European countries regularly, with some little wuru wuru with some bank officials, you know the rest. Imagine getting $20k at 306/$ when you can sell same at 390/$.

In the final analysis, the purpose will end up being defeated.

If the govt has sufficient dollars, why not expand foreign withdrawal of Naira-denominated accounts to at least $1000 monthly? Yes, $1k monthly to check the much talked about round tripping.

emefiele is engineering the scarcity for his ppl since oyel moni is not stealable under buhari

why I say crappy voters are the problem. crappy by commission (rice collecting)27 million and omission (not voting) all 43 million of them

mikolo80:
emefiele is engineering the scarcity for his ppl since oyel moni is not stealable under buhari

why I say crappy voters are the problem. crappy by commission (rice collecting)27 million and omission (not voting) all 43 million of them

The emboldened is the koko, bro.

You beat me to that.

Actually, some dry heads have been bleating about this "cheap rice" stuff.

LionDeLeo:


The emboldened is the koko, bro.

You beat me to that.

Actually, some dry heads have been bleating about this "cheap rice" stuff.

he should enjoy himself. we're coming for them. I go do am like halagu

LionDeLeo:


The emboldened is the koko, bro.

You beat me to that.

Actually, some dry heads have been bleating about this "cheap rice" stuff.

you de mind dem. I go soon enter that rice growing biz

Seun:
Its better than stubbornly clinging to policies that are not working.

Please why is this thread not on front page?
https://www.nairaland.com/3770273/9-secondary-struggles-all-relate

mikolo80:

when would've been good?


to defend the naira for dia mind

and to hammer
what have you DONE to change it


we should hold on to bad policy?
I see, no vote for you, ever

The bottom line of it all is still dat, there's too much corruption in d country and Infact no man should dare fight it again, cos Buhari did and he lost

leighcon:
Economics is all about human behaviours, so quite difficult to say this is one thing that'd sort us out. However, if we can sort out infrastructure and regulation summersaults out of selfishness, then we can be great. For instance, is recession our big problem, I say no, but loss of value of our currency.

Domestic production is key for a country of our population size.

Please tell them maybe 1 day dem go hear. Campaigning for Buhari, we had it in mind he will b working with renown economists and technocrats but d moment he made those his appointments, that was d moment we lost it, thou he met a very tattered economy, we should not forget that too but he could have done beta with appointments that av more to do with economy.

The Central Bank of Nigeria (CBN) Thursday said it has not reversed the import ban on 41 items that it declared ineligible to receive foreign exchange from the apex bank.

The CBN’s clarification followed some news reports Thursday, which erroneously reported the lifting of the ban, citing a CBN document.


http://thewillnigeria.com/news/import-ban-on-41-items-remains-in-force-cbn/

ProfTea20:
silly news.

It should have read CBN lifts IMPORTATION ban on toothpicks, 47 others.

The ban was on importation to protect the Naira and not directly on forex. Besides, this does not have anything to do with forex deregulation.

Poor reporting.

Importers of the items were prevented from accessing forex from the CBN. The importation itself wasn't banned.

Caustics:
How does one apply to collect this $20000 a quarter? I am highly interested

It's simple. Here are the requirements..

1- Proforma Invoice

2-SON product certificate(to be issued on the product you're ordering by SON agent in the country where your supplier/manufacturer operates. These agents are COTECNA, SGS and Intertek. They have offices in all countries of the world. Your supplier would have to contact the one that has an office nearest to them. The motive behind the SON Product Certificate is to discourage importing substandard products into Nigeria. Processing fee is 300USD. This certificate used to be required when doing a transaction backed by L/C( letter of credit) which allows you access forex from the cbn through your bank at the inter-bank rate. It's the best option but since the cbn has always been faced with forex scarcity, the option of LC became discouraging because you could queue for ever and you won't still get forex in the end. That's why I guess the cbn introduced the forex for the smies but the rate is quite higher than L/C interbank rate(360 instead of 305). However, it's still a welcome development and we've benefited from it already. It's just that the 20k USD quarterly benchmark is too small for us. Maybe by the time the cbn reviews performance of this policy, they'd increase the amount to say, 50kusd per quarter or even more. Other documents you'd need to make available in order to access the 20k USD are..
3-Marine Insurance
4- form Q( this replaces the form M). You fill this form with the required information such as the beneficiary's name, address and bank details, your contact details, annual turnover, BVN, purpose of the transaction, among others.

mikolo80:
you de mind dem. I go soon enter that rice growing biz

Correct.

Bro, despite my tight schedules, I still find time to engage in something meaningful cos depending on a single source of income can be catastrophic. A monthly pay check can't make you a landlord in a good location.

Meanwhile, some jobless empty headed monkeys are still roaming the streets making some funny noise while waiting for Bubu to credit their useless accounts with recovered loots.

Smh.

so after placing the country in to untold hardship, you are now withdrawing the ban.

deebsman1:


The bottom line of it all is still dat, there's too much corruption in d country and Infact no man should dare fight it again, cos Buhari did and he lost

how can you say you give up against corruption. maybe you but I will never. corruption never takes a day off why should you the good guys

LionDeLeo:


Correct.

Bro, despite my tight schedules

get a PA or driver wen you fit de send msg

, I still find time to engage in something meaningful cos depending on a single source of income can be catastrophic. A monthly pay check can't make you a landlord in a good location.

ah Mobil salary fit o

Meanwhile, some jobless empty headed monkeys are still roaming the streets making some funny noise while waiting for Bubu to credit their useless accounts with recovered loots.

human need to be part of a group
see football supporters
human psychology

Smh.

na just learn how to harness in like our politicians do, but for good

mikolo80:

get a PA or driver wen you fit de send msg


ah Mobil salary fit o



human need to be part of a group
see football supporters
human psychology
na just learn how to harness in like our politicians do, but for good

Ha! Abeg my power no rich to employ pa/driver oh! I drive myself, only use my spare time for other meaningful things.

Besides, if you are used to salary, you will understand what I'm talking about.

If for for instance you start receiving as much as 10m monthly as salary, bro, this is huge but I bet you, after about 6 months of regularly receiving that amount, you will certainly start looking elsewhere for upgrade. Besides, you live according to your salary. A worker earning 50k can't live same lifestyle as the other who goes home with 500k.