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Nairaland Forum / Nairaland / General / Business / How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. (48995 Views)
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How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Islie: 1:35pm On Jul 03, 2020 |
How Central Bank Of Nigeria Deliberately Prevents Naira From Appreciating Against United States Dollar The apex bank, which has refused to disclose the exact foreign remittances it has received from 2016 to 2018, deliberately stocks the US dollars it receives on behalf of Nigerians to trade them off through crooked means. https://saharareporters.com/2020/07/02/exposed-how-central-bank-nigeria-deliberately-prevents-naira-appreciating-against-united 26 Likes 4 Shares
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Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by omenka(m): 1:39pm On Jul 03, 2020 |
Sometimes, deliberately suppressing the rise of one's currency against the dollar is a strategy deployed by governments to attract FDIs. Nowhere else is this more entrenched than in China, which is one of the reasons behind their endless squabbles with Uncle Sam. I am not really sure if similar strategy would augur well for Nigeria anyway, since the other factors necessary to attract such FDIs, such as dependable critical infrastructure, are lacking. Come what may, I wish my dear country well. We'll come out of the current economic quagmire stronger I believe. 164 Likes 9 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by iaamxavier(m): 1:40pm On Jul 03, 2020 |
Fraud has eaten deep into our society From The grass root to the top it's so bad that even the ones we ought to trust are the greatest perpetrator of this fraudulent activities May God save this country Or better still sell this country and share the money to us 56 Likes 6 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by codedguy1(m): 1:42pm On Jul 03, 2020 |
So where did the FG in person of Boss Musrapha get his figures from that the CBN is disputing it? What exactly is the difference between FG and CBN Soon the banks themselves will dispute both the FG and CBN figures. We watch 34 Likes 2 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by softset: 1:56pm On Jul 03, 2020 |
No wonder lots of companies setting up remittance business especially in the USA. Rebtel whose primary business was strictly international phone card business is aggressively marketing its remittance business in USA. This is an opportunity for entrepreneurs to look into the business. But how can remittance revenue be more than oil? Am I missing something 18 Likes 2 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Trailblazer1(m): 5:50pm On Jul 03, 2020 |
In Nigeria, any institutional solution to a problem always ends up a bigger problem. Check out Nigeria Police, Check out SARS. Check out EFCC Check out Democracy CBN has now joined the gang of saboteurs of our collective progress as a nation 41 Likes 3 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by lilprinze: 5:50pm On Jul 03, 2020 |
This present government led by mr integrity and APC, is the most corrupt and useless government in the history of this country. 88 Likes 5 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Itisallright: 5:50pm On Jul 03, 2020 |
I don't know why we're so selfish in Africa, most especially our leaders..... 7 Likes 1 Share |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Wuuworld(m): 5:50pm On Jul 03, 2020 |
There is nothing Joe Igbokwe wouldn't see in Lagos gutter. 34 Likes |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Artiiclebeast: 5:50pm On Jul 03, 2020 |
It is corruption galore everywhere you go in the country. The same thing is playing out here in the power sector. https://www.nairaland.com/5966530/true-story-behind-halt-electricity Are you fed up with the status quo Nigeria is today? Join us here https://www.nairaland.com/5942435/nigerian-youths-lets-get-together Search and join our telegram group (nigerianyouthsaretired) pls retweet and follow 6 Likes 3 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Trailblazer1(m): 5:50pm On Jul 03, 2020 |
omenka: You can even defend the devil against God 70 Likes 4 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Nobody: 5:50pm On Jul 03, 2020 |
This one is strong |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Truetalk3139: 5:50pm On Jul 03, 2020 |
Nigeria's corruption is intensional, to eradicate it firstly we need to vote youths into power. Say no to the government of the old! 8 Likes 1 Share |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Houseofglam7(f): 5:50pm On Jul 03, 2020 |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Rilwayne001: 5:50pm On Jul 03, 2020 |
Nawao |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by PureGoldh(m): 5:51pm On Jul 03, 2020 |
This peOple just wan use big grammar confuse people |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by DuBLINGreenb(m): 5:51pm On Jul 03, 2020 |
This writeup is not well researched and as such it is unclear and difficult to understand. There may be some truth to the piece but it needs to be clearer The Central Bank keep dollars and issue promisory notes or tell banks to give such and such person the naira equivalent of whatever dollar money was sent to him or if he wants dollar they'll tell the bank to give him or her the dollars the banks have while the CBN holds the dollar the sender sent in the USA this is to regulate the amount of dollars in Nigeria and prevent over dependence on dollar as well as too much dollars from entering Nigeria or too many Nigerians seeking dollars this helps give the naira the little value it has 18 Likes 1 Share |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by OgbanjeProphet: 5:51pm On Jul 03, 2020 |
Ewoooooh!!!!!!! Well, CBN died the day Soludo left office as CBN governor Just the same way NAFDAC died the day Dora Akunyili left office as NAFDAC director general. 48 Likes 2 Shares
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Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by OBAGADAFFI: 5:52pm On Jul 03, 2020 |
We knew this from 2015 when they implemented the capital controls and restrictions forex. That event created the gap between the official rate and parallel market rate. Today the truth is finally getting to us. 16 Likes 2 Shares |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by OLDESTWARRIBOY: 5:52pm On Jul 03, 2020 |
If I tell ona say I understand anything for up there eh, make ona change my middle name. Middle finger up for FG & CBN kaydwutang:Go car talk or any section then see below....hope they find it 7 Likes
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Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by dynicks(m): 5:53pm On Jul 03, 2020 |
I tire for the set of leaders existing in this very part of the globe.......them no fit kill me aswear... Abeg mama nkechi,...u get fufu?...abeg arrange one plate pass give me ....uhmm..u fit still use your church mind add some collabos into it but know say I no hold enough money reach....just do it for me biko as your long time customer..... Naija matter really tire person....ehe! Add hero join give me abeg....I go try pay u all next week 7 Likes 1 Share
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Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Dididrumz(m): 5:53pm On Jul 03, 2020 |
Uhm |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Chanchit: 5:53pm On Jul 03, 2020 |
I'm sure governance is not rocket science. These leaders just enjoy it when its populace is in abject poverty. 4 Likes |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by IMO01: 5:53pm On Jul 03, 2020 |
Sharp I didn't really understand the write up but if it's in the interest of Nigerians then they should go ahead. I watched a video of audu ogbeh explaining how Nigeria began to fall from the 80's. He said some American professor from havard came to Nigeria to convince Nigerian government to devalue our currency that it was in our best interest to do that. Since then every year they force Nigeria to devalue our currency and increase interest rate. These nation's want Nigeria to fail for their own selfish gain yet nobody talk about the scam America scam on African nations 10 Likes |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Brushstrokes20: 5:53pm On Jul 03, 2020 |
The shithole is a lost cause! |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by mycar: 5:53pm On Jul 03, 2020 |
Truth I must say, they go behind and sell to people at a high price and still pay salary in naira |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Stewart883(m): 5:53pm On Jul 03, 2020 |
omenka: You're talking nonsense!! 5 Likes |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by princealexndre(m): 5:53pm On Jul 03, 2020 |
No be today that one Dey Happen, Okay wait let’s ask ourselves this Question, If In 1983 #830 (naira)is equal to $1000+, How come now in 2020 just $1 is #390(naira).. what happened to the Figures, what happened to our Naira, it’s crystal clear that the system is jeopardized, Every Goverment has Stolen Enough and it has afftected the Numbers.. we have to wake up in Nigeria |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by nitt: 5:53pm On Jul 03, 2020 |
How this government accused GEJ, SAMBO DASUKI & CO of varying financial scandals and misappropriation without holding this EMEFIELE is the 100th wonder of the world. He has been exposed in round tripping, colluding with some close associates of the President to sell dollars at black market rates. He has dodged the Arms scandal to which millions of dollars were moved under the past administration. He has been exposed in underground job racketeering in the CBN especially to children of politicians, generals and family and friends. Infact, i think his babalawo must be really powerful to have resisted and kept his position from the PDP to the APC governments. I Hail o ...Oga CBN Governor 11 Likes 1 Share |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by sonnie10: 5:53pm On Jul 03, 2020 |
This one na wash! I have never seen anyone that would spit out honey from his mouth. And don't get me started with devaluation (currency manipulation) in China and most Asian countries. Those ones do it to have competitive advantage because they are mostly manufacturers and wants more market share from export. 4 Likes |
Re: How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. by Lyoncrescent: 5:54pm On Jul 03, 2020 |
Late Henry boyo said this in a different variant many times but nothing was done. You can search for some of his views on YouTube or punch newspaper 3 Likes 1 Share |
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