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Nairaland Forum / Nairaland / General / Business / CBN Signals End To Official Rate Regime For Naira (29124 Views)
Get USD at official rate of CBN. Read T/C / FG Mulls Unified Naira Exchange Rate Regime / Central Bank Starts Uniform Exchange Rate For Naira, Now ₦380 To $1 (2) (3) (4)
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Re: CBN Signals End To Official Rate Regime For Naira by TheFacelessMan: 9:21am On Jun 13, 2019 |
OfficialAPCNig: Coincidentally, my income is in USD. This Government with its fumbling.... handling of the economy actually tripled my income. BUT will i because it favours me forget about all other relatives, friends and even foes earning in Naira? That's a myopic way of thinking. 3 Likes |
Re: CBN Signals End To Official Rate Regime For Naira by Nobody: 9:27am On Jun 13, 2019 |
motherfucker:the degree of inflation and that of inflow or profits from earning forex can never be the same so yeah we still get to make profits just like 2016 |
Re: CBN Signals End To Official Rate Regime For Naira by Jaqenhghar: 9:32am On Jun 13, 2019 |
dadavivo:It will be very difficult |
Re: CBN Signals End To Official Rate Regime For Naira by Nobody: 9:35am On Jun 13, 2019 |
bigpicture001:cost of housing isn't affordable because government does not participate in mass housing schemes?so why is housing affordable In Onitsha then?did government build houses for the masses in onitsha too What is the meaning of free float ?he meant he will do it without government participation at all.and there would be bureau de change of course but how much forex can they bring In As xompared to him ?so he will still dominate that market and rule it without cbn intervention so las las he gets to fix forex pricing in Nigeria which will be very dangerous. No government can accept that. |
Re: CBN Signals End To Official Rate Regime For Naira by Harmodle1: 9:45am On Jun 13, 2019 |
Its high time we cryptolize everything blockchain will help Nigeria even Africa |
Re: CBN Signals End To Official Rate Regime For Naira by bigpicture001: 9:50am On Jun 13, 2019 |
nwanneni: The cost os house became quite affordable because 1st the supply of houses outweigh it demand...reason being that may people don't see on its game as a modern city..most houses don't hv water running in them..mist occupiers are traders, lest making it unattractive for ppl dt are not traders... Again the plague of bandits nd thuggery scares people from osha..truth is all this has been fixed now..but the stigma is still attached to it. Most hotels are newly built...most relaxation spots are newly built..meaning all this year's, it's just a residential - trading town...aika which is more open has house prices to the heavens.. including asaba.. When we say floating it's means without control. You are correct...but it's been long CBN deregulated the supply side of the forex market to encourage investors and forex inflows...but they are yet to deregulate the demand side of forex...hence they require all forex demand to pass tru the CBN. Through the banks. That will make a private operator to lose a lot of client who might need forex from beraue de change for importation of items or services blacklisted by the CBN....hence with d CBN control of the demand, they say it's a fixed exchange rate market 1 Like |
Re: CBN Signals End To Official Rate Regime For Naira by Mftivi: 9:57am On Jun 13, 2019 |
TheFacelessMan:Imagine owning naira debts pre 2015 and earning some dollars around 2017 lol. |
Re: CBN Signals End To Official Rate Regime For Naira by Nobody: 10:15am On Jun 13, 2019 |
bigpicture001:All the bad things you said about onitsha happens in Lagos too. Now my model is not about the social part of the town but how it could solve it's housing issues in the first place. The people took to trading to solve it's liquidity issues.more people became custodians of disposable income and houses started springing up everywhere. Now if manufacturing or trade can boom too the way it did there in other places then liquidity will no longer be an issue and housing will no longer be an issue too. No where in the world did government totally solved it's housing problems for its people.private sector owns that aspect.im not saying government doesn't provide housing though. I think we both are driving to the same thing but my only issue was letting dangote solely solve Nigeria forex forex problems with the model you proposed.that will not be good. If he wants to build more factories to counter import then fine but bringing in liquidity to dispose as a bureau de change without cbn regulation is a no no. If you give him just a year to do that then he will become so rich that trying to reregulate the market with buffers will not work.hence one will be forced to either yield to his demands or risk a major economic meltdown |
Re: CBN Signals End To Official Rate Regime For Naira by Junkie1: 10:16am On Jun 13, 2019 |
WHEN I SAID WE HAD TO GO ANOTHER FOUR YEARS OF HELL PEOPLE WHERE THROWING INSULTS AT ME NOW SEE |
Re: CBN Signals End To Official Rate Regime For Naira by Iwanttoto1: 10:17am On Jun 13, 2019 |
Billy0naire: Tnks God says, all my money done converted to dollars. |
Re: CBN Signals End To Official Rate Regime For Naira by jadeliyi(m): 10:19am On Jun 13, 2019 |
dadavivo:that may seems impossible |
Re: CBN Signals End To Official Rate Regime For Naira by douchesnozzle(m): 10:24am On Jun 13, 2019 |
Good news for us Forex traders if u know u know..make I go stuff my Skrill account with more dollars no need to keep value in naira. |
Re: CBN Signals End To Official Rate Regime For Naira by yaki84: 10:37am On Jun 13, 2019 |
Ijaya123:bro if crude price shud up to 100dolls, u will be buying fuel at 200+ naira a litre under this admin. |
Re: CBN Signals End To Official Rate Regime For Naira by Smartrock: 11:13am On Jun 13, 2019 |
Lool noo, simply means we will have plenty naira chasing one dollar. We don't produce much.. importation will now be influenced directly by demand.. and since our demand is high already price will increase.. invariably meaning dollar will increase again Damilaresammy: |
Re: CBN Signals End To Official Rate Regime For Naira by OfficialAPCNig: 11:17am On Jun 13, 2019 |
TheFacelessMan:In this next level, you are on your own. I currently draw salary from the system, but I am making serious efforts to incorporate an IT company that would serve only foreigners interested in Nigeria services. I must tap from Buhari's cluelessness. |
Re: CBN Signals End To Official Rate Regime For Naira by Ijaya123: 11:20am On Jun 13, 2019 |
yaki84: That is if Subsidy is removed totally. |
Re: CBN Signals End To Official Rate Regime For Naira by Billy0naire(m): 11:31am On Jun 13, 2019 |
Iwanttoto1: Do people still keep their money in the banks? If anyone keeps money in the bank, it will be foolhardy to keep it in a volatile currency. Naira just happens to be one hell of a volatile tender. If you are not keeping in Euros, then lock them up in investments. No other currency is worth it, not $$, not Yen, of course, not Buhari's Naira. Otherwise, bring them to me for a 20% APR. I need black money especially, will help you turn them white. |
Re: CBN Signals End To Official Rate Regime For Naira by lancee(m): 12:02pm On Jun 13, 2019 |
Re: CBN Signals End To Official Rate Regime For Naira by shigoslim(m): 12:21pm On Jun 13, 2019 |
[quote author=Billy0naire post=79281249]This is the best time to join the Yahoo Yahoo Boys Incorporated (YYBI). I know the Yahoo Boys will smile when reading this news. Now I envy them, cos the naira is about to hit 500 naira per dollar in a few months. And they just make money while wearing only boxers in their rooms. Buhari is tired of experiments. Now is the time to know the true state of our economy. The FDIs will increase, and the economy will be better for it, but our consumer goods will face certain inflation. But we will get used to it, because it is the best thing to do. Float the currency, and force people to consume locally made Nigeria has low production and consumed more foreign production. Our exportation is minimal to importation.... hence naira will keep depreciating. If FED government truly love Nigerian let them destroy the power of monopoly in the like of Dangote and others and allow total capitalism economy . Empower the jobless youth through small and medium scale enterprise. Give tax holidays to small scall businesses, to allow them expand their business for a while , total diversification of the economy from monoculture economy. Subsidies farms tool , established local farm preservation throughout the 36b state. Nigeria economy will bounce back within shortest time . |
Re: CBN Signals End To Official Rate Regime For Naira by shigoslim(m): 12:23pm On Jun 13, 2019 |
Billy0naire: Nigeria has low production and consumed more foreign production. Our exportation is minimal to importation.... hence naira will keep depreciating. If FED government truly love Nigerian let them destroy the power of monopoly in the like of Dangote and others and allow total capitalism economy . Empower the jobless youth through small and medium scale enterprise. Give tax holidays to small scall businesses, to allow them expand their business for a while , total diversification of the economy from monoculture economy. Subsidies farms tool , established local farm preservation throughout the 36b state. Nigeria economy will bounce back within shortest time . |
Re: CBN Signals End To Official Rate Regime For Naira by yaki84: 12:25pm On Jun 13, 2019 |
Ijaya123:what's subsisy pls? am a buharist n dont knw what subsidy means... who is subsidizing who? |
Re: CBN Signals End To Official Rate Regime For Naira by alterego17: 12:26pm On Jun 13, 2019 |
nwanneni: Lol..show mi way too bro |
Re: CBN Signals End To Official Rate Regime For Naira by Nobody: 12:33pm On Jun 13, 2019 |
[quote author=shigoslim post=79290095][/quote]How is Dangote a monopoly |
Re: CBN Signals End To Official Rate Regime For Naira by alterego17: 12:34pm On Jun 13, 2019 |
Billy0naire: Biafrannigerian!!! |
Re: CBN Signals End To Official Rate Regime For Naira by Modphase: 12:49pm On Jun 13, 2019 |
Did Goodluck return dollar where he met it or did PDP returned dollar where de met it ? dadavivo: As the cost of living since 1999 PDP took over been reducing ?! Sirheny007: |
Re: CBN Signals End To Official Rate Regime For Naira by Billy0naire(m): 1:18pm On Jun 13, 2019 |
shigoslim: Every administration in this country have been running around the same cycle doing conventionally mediocre things and nominating people based on nepotism instead of merit. And the stupidly ignorantly masses are supporting tribes against merit. I pity them not, cos they deserve their suffering mass-consciously. All they do is share free oil money without innovations, no optimization and expect different results while masking their failed policies with hedging the currency against the national savings. Moronic Politicians at Abuja, all of them. It is time to allow the economy rulesets to determine the value of the tender and not mask economic misgovernance by FX rate fixations. In essence, they are busy wasting the savings to portray a healthy economy when in essence, they have failed woefully and have been masking the inefficiency by wasting even more money. Whitewashing the grave does not mean the corpse is not stinking. Na now we go know the strength of the naira and by extension the economy. Whoever has cash naira now should go and change to the dollars and hold it tight and sell it off for profits. Let us fucck with the economy together. I want new billionaires to emerge, the top is too lonely. We want some young people at the top. I am just too lonely here. There is so much money in the country and people are just too focusing on yahoo yahoo not to see it. 2 Likes |
Re: CBN Signals End To Official Rate Regime For Naira by Ijaya123: 2:21pm On Jun 13, 2019 |
yaki84: Ask NNPC GMD. |
Re: CBN Signals End To Official Rate Regime For Naira by pacespot(m): 2:30pm On Jun 13, 2019 |
I hope this didn't JumpStart a new regime of inflation and crash of naira against dollar, before where is the market that will determine the exchange rate, Nigerians that are very manipulative. though I think this is a lure towards the foreign investors. |
Re: CBN Signals End To Official Rate Regime For Naira by bigpicture001: 4:09pm On Jun 13, 2019 |
nwanneni: I figured out yr an economic student....ur terminology suggest so..not a novice at all.....ur good..but u just met the master..lol Welcome to my world of economic analysis.... 1 Like |
Re: CBN Signals End To Official Rate Regime For Naira by suremanpatriot: 4:32pm On Jun 13, 2019 |
dadavivo:whn wil jona rtn all d reserve dollar money they squandered for elecstion 2015 so that we can restore back our prices of commodities |
Re: CBN Signals End To Official Rate Regime For Naira by Ugosample(m): 5:38pm On Jun 13, 2019 |
dadavivo: life becoming increasingly difficult |
Re: CBN Signals End To Official Rate Regime For Naira by Ugosample(m): 5:40pm On Jun 13, 2019 |
pacespot: the manipulative nature of a lot of Nigerians is the main worry here |
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