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Nairaland Forum / Nairaland / General / Business / Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion (36030 Views)
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Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by NairaMaster1(m): 3:03pm On Oct 03, 2021 |
Pacesetter123: I taya for that girl ooo. 1 Like |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by grandstar(m): 3:45pm On Oct 03, 2021 |
The forex market has a supply side problem. The official exchange rate of 412 does not reflect the true value of the Naira hence, supply of it at that rate has dried up. Only the FG, who receives effortless dollars derived from oil revenues can supply at such a low value. The rate of 485 at the parallel rate before the CBN ended the sale of dollars to the BDC's was a truer reflection of the Naira's value. Lamido Sanusi said that the differential between the official and parallel market rates must never be more than 3%. At 485,the differential was more than 15%! That was the core of the problem. To bridge that gap would mean devaluing the currency to about 460 - 470 at the official rate. This, however, isn't feasible as Buhari hates devaluation. So, this has been the bane of the puppet CBN governor who has refused to assert his independence from a president whose understanding of economics borders on the infantile and lamentable. 1 Like |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Limassol(m): 4:28pm On Oct 03, 2021 |
PENISgod:Depends on where you live and the nature of the job.... But no allow the job pass you o, it's better than being jobless. |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Christistruth00: 5:08pm On Oct 03, 2021 |
Terrence99: The Obanikoro Family Clan is huge please don’t say what you don’t know |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Terrence99: 5:13pm On Oct 03, 2021 |
Christistruth00: Apart from the area called Obanikoro in Lagos, the most prominent member is Musiliu. So, when I say Obanikoro, you know exactly who I'm referring to. |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Nobody: 5:14pm On Oct 03, 2021 |
Big confusion everywhere... See me see trouble! In Naira Marley's Voice "Am I a Yahoo Boy?!!!" |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Gfskw: 6:27pm On Oct 03, 2021 |
So why dollar hike |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Christistruth00: 6:30pm On Oct 03, 2021 |
Terrence99: You mentioned that he was MusiliuObanikoros Son |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by femmy2010(m): 6:57pm On Oct 03, 2021 |
paskal16: No need for him to ponder ooo. He should simply makes laws that prohibits you from stockpiling forex in domiciliary accounts for more than 60days after which it would be converted to the local Naira and at the official rate. |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Simdyofficial(f): 8:58pm On Oct 03, 2021 |
PENISgod:you are staying with your parents and u use this kind of moniker |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Emmanuel909090: 9:50pm On Oct 03, 2021 |
And some people still dont know the meaning of domiciliary account. |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Nobody: 10:46pm On Oct 03, 2021 |
Jide is a very lightweight rep both politically and academically Conversion of $16 billion to Naira will not only be an idiot move - it will further weaken the Naira... If you cannot improve USD earnings and prefer to pilfer private deposits without an ounce of honest effort.. you have basically planted the middle-class and private sector who have kept Nigeria alive into the valley of death.. the next event will be the squandering of $16billion and complete collapse of the Naira. How do you get USD, you earning it by selling commodities internationally priced in USD and Crude oil was 96% of USD earnings even till date. rather than improve and support local investors with capital to produce what we import, babajide and his dunce moves intends to continue importing with moneys stolen from private depositors |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Nobody: 10:49pm On Oct 03, 2021 |
femmy2010: Questions for you - "stockpiling" or utilizing as needed, what is the basis for 60 days and is it corporate or individual accounts. we are looking at $16 billion while CBN (Emefilie to be exact) has frittered-away $96+ billion fighting the USD since 2015 |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by SavageResponse(m): 6:41am On Oct 04, 2021 |
dapsoneh: Anyone can open a dom account, you don't have to be rich to do so! |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by SavageResponse(m): 6:44am On Oct 04, 2021 |
ecomalchemist: We dey see am for where we dey see am |
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Cherez: 7:24am On Oct 04, 2021 |
AreaFada2: My brother I don tire sef for this country You're right |
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