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Nairaland Forum / Nairaland / General / Business / Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador (33007 Views)
CBN Stops IOCs From Remitting 100% Of Forex Proceeds Abroad / UBA Publishes Details Of Forex Defaulters / CBN Stops Sale Of FOREX To BDCs (2) (3) (4)
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Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by CHRISSANCHEZ(m): 5:33pm On May 16, 2020 |
Exc2000:go and sit down.......wasteman. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by t2luv1: 5:33pm On May 16, 2020 |
KnowAll: If someone in diaspora send money in dollar allow the receiving bank to pay the recipient in dollar. That money is wash as to impact on the country foreign reserve. Dollar input dollar output. doing this will allow for more dollar in the parallel market there by lowering the exchange rate. Your CBN wont allow that because they are clueless. Always follow the money look at the people in charge of the Bureau de exchange that will explain everything you need to know. That country is f*cked 1 Like |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by t2luv1: 5:36pm On May 16, 2020 |
Ferdinandu: They do !!! Until you stop asking for handout. 1 Like |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by t2luv1: 5:54pm On May 16, 2020 |
CHRISSANCHEZ: Why do you think US government has a budget deficit of 26T dollars yes i said Trillion Dollars not billions and they are still fine, Simple they can print all the dollars they need so long as the dominant world currency is still the dollar their purchasing power remains the same. China has been trying to put Yuan on the same footing as the dollar with no success. China is militarily a powerful country but people just don't respect them. Respect has to be earned not given. China is a country that don't innovate all they have is ability to mass produce. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by OROSUNBOLB(m): 6:04pm On May 16, 2020 |
We knew truth would come out eventually when somebody said Nigeria had "more than enough" forex. Sincerely, I don't know what this Buhari administration should be given any credit for. Mr Buhari only sought power solely for the propagation of his fulani ethnic superiority agenda; he has no plans for the development of this country. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by SirBunky85(m): 6:08pm On May 16, 2020 |
Guest911:Naso |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by feedthenation(m): 6:25pm On May 16, 2020 |
UK pounds to Naira is £1 to N500 |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by faceland: 6:32pm On May 16, 2020 |
SpecialAgent: I don't know their motive. May be they are sure the value of the naira would keep depreciating even months after the lockdown (because most countries have filled up their reserves and we import half of everything). |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AlhajaChinyere: 6:45pm On May 16, 2020 |
Angelfrost: I don't blame you. GEJ upon his okirika Rivers state PHD was the worst (worstest, if there were such a word) president this country had the misfortune of having. Tell Nigerian women to keep popping babies as they like. If care is not taken their children will start to starve to death right in their presence. The oil dollar we are wasting on importing food is running out fast! |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by eneyoduke(m): 6:48pm On May 16, 2020 |
And the CBN will giving us fake assurance that there have enough, lie lie government |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AlhajaChinyere: 6:48pm On May 16, 2020 |
OROSUNBOLB: Don't worry! Buhari will soon leave, then I can't wait to hear what you people will say. Nigeria is STRUCTURALLY defective and there are no easy remedies available. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AlhajaChinyere: 7:03pm On May 16, 2020 |
9jaDoomCountry: I'd rather be without a certificate than receive an okrika PHD from a useless institution in Rivers State. Rubbish! |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AlhajaChinyere: 7:05pm On May 16, 2020 |
CHRISSANCHEZ: Listen and learn, idiot! |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by odimbannamdi(m): 7:09pm On May 16, 2020 |
Kekereekun123: Hello bro, Please how do i reach you regarding the post in attached pic you made on the Canadian PR thread earlier this year?
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Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by DexterousOne(m): 7:12pm On May 16, 2020 |
fkj950ax: Tinkering on the FOREX rates have had negative consequences Assuming one could still cash out from western union in USD or whatever currency And he goes to sell the forex to the bank ot aboki All these wont be happening These distortions created by the regulators is affecting us bad Tho you have some point People who want to send can still send But many are short changed 1 Like |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by DexterousOne(m): 7:14pm On May 16, 2020 |
t2luv1:Well said |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by erico2k2(m): 7:41pm On May 16, 2020 |
Exc2000:Dollars are used outside the shores of America However Naira is used only inside Nigeria. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by MT: 7:48pm On May 16, 2020 |
Stop blaming Buhari. When he stopped importations of ordinary foreign rice, frozen turkey etc to encourage our local farmers, what were the people saying. You can't eat your cake and still have it. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AreaFada2: 7:49pm On May 16, 2020 |
helinues: Maybe not oil price. But for the One Naira to $1 promise he didn't keep. Not that we didn't know it was outrageous to begin with. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by OROSUNBOLB(m): 7:56pm On May 16, 2020 |
AlhajaChinyere: Then who is afraid of the restructuring of Nigeria? If not for the defective structure of Nigeria,do you think somebody like Buhari would have been president ? The truth is that people like Buhari benefit from the present imbalance hence,they will never do anything to alter it. 1 Like |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AreaFada2: 7:58pm On May 16, 2020 |
Exc2000: Although you meant to be cheeky, do you know that there are "assets" that cost a lot to maintain but yet generate no profit? Such only increase debt and over time cost more than its actual worth. Unless they are strategic or of national security importance, certain assets are a liability. Look at Nigeria airways in 1999. In 1979, OBJ left about 30 aircraft in the fleet. By 1999 it had ONE aircraft when OBJ returned. Yet we had staff, owed salaries and huge expenses going with it. It was wound down after the books were checked and mounting debt found. Some former staff were still being owed as at last year. There are assets our corrupt system cannot manage, so better privatise them PROPERLY. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by AreaFada2: 8:06pm On May 16, 2020 |
t2luv1: How big is our tax base? What leverage have we to influence world affairs? How many countries have their foreign reserve in dollars? How strong are our regulatory bodies/monetary policy to handle inflation? How powerful is our internal market in shaping policies compared to oil export? How diversified is our economy? Compare ours to USA's. That way you will see why USA can get away with many things that we can't. We end up cap in hand to IMF & World Bank. Calling vultures to nurse the sick & dying. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by Nobody: 9:12pm On May 16, 2020 |
odimbannamdi:what do u need to know Everything is on that thread. So research |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by don3e(m): 10:06pm On May 16, 2020 |
Islie:It's time to look inward. They call it SELF-DEPENDANCE........By this we will break out from modern slavery. We have the resource, name it: human resource( Man power), natural resources (Raw material), Available Market ( Population)..... |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by uvie66: 6:49am On May 17, 2020 |
chelseamann:Zimbabwe, Venezuela. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by Agboriotejoye(m): 6:54am On May 17, 2020 |
Osidazz19:What does $100 per barrel have to do with all he suggested or are you just a robot? 1 Like |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by uvie66: 7:06am On May 17, 2020 |
Angelfrost:But China operated a one and two child policy for many decades. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by Agboriotejoye(m): 7:12am On May 17, 2020 |
Osidazz19:I'm sure Hamilton will reject the Honda. He might give an advice to take it to an automaker who has the ability to make changes to make it run like a Ferrari. It's called knowing and accepting your limit. The other option is called behaving like a complete knucklehead who revels in failure |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by sheriffman(m): 7:24am On May 17, 2020 |
He should keep his opinions to himself |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by Agboriotejoye(m): 7:28am On May 17, 2020 |
Osidazz19:You're just a zombie making stupid excuses like a headless chicken. When is the right time to make hard decisions? Is it during a time of plenty or scarcity? Take the subsidy issue for example. If we deregulate when oil is at $100 what do you think the price of gas will be compared to if we do when oil is $28? The underlining fact is there's no better time to make hard decisions but if there'll ever be, it's usually when the chips are down. 1 Like |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by chelseamann(m): 8:16am On May 17, 2020 |
uvie66:tell them.. |
Re: Nigeria Running Out Of FOREX – John Campbell, Ex-US Ambassador by Angelfrost(m): 8:32am On May 17, 2020 |
uvie66: Yes they did, but that was not the only thing they did... That wasn't even the main step they took towards where they are today... You can half Nigeria's population this very day, and the nation will still be struggling a decade after... Think about it!!! There is more to progress than just population control (I do totally agree that population control is a step in the right direction). |
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