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Nairaland Forum / Nairaland / General / Business / One Month After AbokiFX Shutdown, Naira Fails To Rise (31454 Views)
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Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Ikillbrokehoes(m): 6:08am On Oct 17, 2021 |
Buhari will finish NIGERIA with time, y'all should brace up because this is just little of what will happen in the future 3 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by SmartPolician: 6:19am On Oct 17, 2021 |
AntiWailer Stop making assumptions. AbokiFX made it clear that they contacted FX dealers in Lagos before posting their rates. Nigeria needs to fix electricity to produce at a cheap rate and start consuming what she produces to reduce overdependence on importation. Until then, this country will continue to struggle economically. Every rational person knew that AbokiFX was never the problem, including the clueless CBN governor 5 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:20am On Oct 17, 2021 |
SmartPolician: Who are the FX dealers even after BDC was shut down ? How are they verifying the FX dealers they spoke to. ? so why didn't they list the official FX dealers they contact ? We are smarter than that. Your second point was clearly stated in my post if you read well. 5 Likes 1 Share |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by SenecaTheYonger: 6:21am On Oct 17, 2021 |
But it’s not falling rapidly though like you guys always predict 2 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by nedekid: 6:21am On Oct 17, 2021 |
Meanwhile oil has hit $80 and rising, lng ie gas prices has shot over the roof. You will expect our dollar inflow to increase and the attendant effect on the naira. I thought they said crude oil prices crashed due to corona etc hence no money, OK, crude oil has hit the roof, so where is the benefit? I put it to you, give these recessionists $500 /barrel oil price and naira will still fall and they will blame "middlemen", "past administration" etc. Some will still give the lame excuse that we produce nothing. Lies, we produce lng, crude etc. Do you know how many containers of logs leave the country daily? As I wrote earlier, visit any justrite store, 80% of the products there are made in Nigeria, from soap, ketchup, BBQ source, ice cream, confectionerys, plastics, furniture etc. And all these products are exported all over Africa and abroad! Do you know our Stout, trophy, gulder are all exported to as far as Russia? We were not exporting but $ was 140. We were not exporting but pounds was 250 for over 10 years? Why then is our own different? Other economies are improving ours lie lie. As I have always said, give this regime the economy of Qatar, Germany, Japan, USA and in 2 years they will crash it. They will blame the middleman, blame the country for producing and exporting too much, blame the country for being too rich and had to become poor! Hence they are called the RECESSIONISTS! 11 Likes 1 Share |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Minjim: 6:22am On Oct 17, 2021 |
AntiWailer: Moreover, Abokifx isn't the only speculator. Why single it out? All these FG does best is shift blame |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by steve13(m): 6:23am On Oct 17, 2021 |
Abokifx was an issue , a big one , if they had left them, exchange rate must have gotten to 750 , why didnt it raise again? It has remained at 570----575 and that's how they left it Bringing them down averted major FX crisis 9 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by udemzyudex(m): 6:23am On Oct 17, 2021 |
Stabilise ko stabiliser ni |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by udemzyudex(m): 6:24am On Oct 17, 2021 |
steve13: I understand this your sarcastic post. |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:25am On Oct 17, 2021 |
Minjim: I agree with you and i stated it clearly. The Govt's failure is largely responsible. My only thinking is that if a lot of things is causing a problem, taking 1 out is a step in the right direction. 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by babaRUNtinz(m): 6:25am On Oct 17, 2021 |
Naira fails to rise,but Nigeria will rise again;whether the devil likes it or yes. |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:26am On Oct 17, 2021 |
SenecaTheYonger: Thank you. They should analyse the fall rate compared to the way it was falling when the site was publishing, by now, dollars should have been almost a thousand naira. 2 Likes 1 Share |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by SilvanusII(m): 6:28am On Oct 17, 2021 |
AntiWailer: This is great explanation considering I had just then been thinking about the power of information. Still, I'm certain abokiFX put up caveats indicating the flimsy nature of the rates they put up. Emefiele might also just as well stop tabloids from putting up rates. Before abokiFX, they were the go-to places for Forex info 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by udemzyudex(m): 6:28am On Oct 17, 2021 |
AntiWailer: Who told you BDC was shut down? Where do you get your news from? Na wa ooo 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by hakeemhakeem(m): 6:28am On Oct 17, 2021 |
Matheusmartin: He was carried away by pmb manner of saying prayer 2 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by GreaterFuture(m): 6:29am On Oct 17, 2021 |
Does anybody have Cash for Sale Cash or inflow, sure Good prices Pls in interested 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by SmartPolician: 6:30am On Oct 17, 2021 |
AntiWailer: Who shut down the BDC, huncle? Please the CBN didn't shut them down. They just didn't approve the license for new ones because many people were going into the business to cash out. I sell my dollars to BDC all the time and those people are still in operation. Also, the CBN stopped giving them the $10k twice a week to to enable ordinary Nigerians access USD at an affordable rate. Being typical Nigerians, the BDC abused the privilege. 2 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:31am On Oct 17, 2021 |
udemzyudex: By shut down, I meant they were not given dollars at official rate again. and also CBN stopped registering BDC and returned money for some that have paid and were close to being registered at the point they made that announcement. So whether u like it or not or choose to be technical, CBN is not recognising BDC operations again for now and hence the term 'SHUT DOWN' |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:31am On Oct 17, 2021 |
SmartPolician: responded here before. and i also ask you. So what is governing BDC operation right now when CBN is not that involved again. They have empowered Bank to take over BDC operations. AntiWailer: |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by udemzyudex(m): 6:34am On Oct 17, 2021 |
AntiWailer: CBN itself didn't use that word SHUT DOWN stop trying to be smarter than the governor OK. 3 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Kobicove(m): 6:34am On Oct 17, 2021 |
Banning AbokiFx was a good move by the CBN 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Minjim: 6:36am On Oct 17, 2021 |
AntiWailer: Obviously, what the Fg did was just take the convenient one out. The real cause, which is their incompetency, corrupt tendency and negligence is still there. Mind you, most of these Northern politicians operate BDC and use their position to get forex from CBN. Imagine the forex 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:36am On Oct 17, 2021 |
udemzyudex: BDC operations was officially transfered to banks by CBN. So tell me what is UP in BDC operations right now if CBN refused to license, return money for the people in the process of getting approval, |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:36am On Oct 17, 2021 |
Kobicove: You are spots on. 2 Likes |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Minjim: 6:36am On Oct 17, 2021 |
AntiWailer: Obviously, what the Fg did was just take the convenient one out. The real cause, which is their incompetency, corrupt tendency and negligence is still there. Mind you, most of these Northern politicians operate BDC and use their position to get forex from CBN. Imagine the forex spent in visiting Tinubu latetly |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by seyz91(m): 6:37am On Oct 17, 2021 |
socialmediaman: |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Sunisonflex39(m): 6:37am On Oct 17, 2021 |
Nigerian politicians are useless.. All of them |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:38am On Oct 17, 2021 |
Minjim: Yes if you read my first post, i was clear about how FG was the major problem. No doubt about that. i just feel taking the convenient out is a step in the right direction. |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Minjim: 6:38am On Oct 17, 2021 |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by nairaman66(m): 6:40am On Oct 17, 2021 |
pacino26: AbokiFX was just a simple solution to a simple but rather complex problems of the Naira against the dollars. If I were the CBN, I would liaise with AbokiFX to peg the rates at a fixed point with the current present bank rates. This would have taken care of the SPECULATED part of our dwindling Naira!! Shutting down the site is totally inhuman, ill timed, myopic and irresponsible from the CBN governor! Our problems in Nigeria is usually simple- We act most of all the time, other than just simple reasoning! 1 Like |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by AntiWailer: 6:40am On Oct 17, 2021 |
Minjim: You obviously are not reading or u probably lack understanding. if you have 8 problems affecting you and make effort to take out 1 will it work ? will it be a divert of attention. ? will your issue disappear. ? 3 Likes 1 Share |
Re: One Month After AbokiFX Shutdown, Naira Fails To Rise by Minjim: 6:42am On Oct 17, 2021 |
AntiWailer: Well, we have different ways I like to take on major problems first. I can even live with the minor ones 1 Like |
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