linearity:


Not related, may even cause dollar to fall.

Foreign Airlines that sold tickets in Naira approached CBN to exchange their Naira to dollar at official rate, so they can repatriate their profit back home to put back into the business, which is normal for any business out there.

Because of dollar scarcity and wanting to still shore-up her dollar reserves, CBN tactical say No by delaying the FX orders.

This delay have a pressure on the black market dollar rates, because Airlines who are under pressure goes through third parties and the black market to repatriate some money, thereby causing increase in dollar price.

With this release by CBN, those pressure on the black market attributed to these Airlines will reduce thereby likely reducing the price of dollar.

linearity:


Not related, may even cause dollar to fall.

Foreign Airlines that sold tickets in Naira approached CBN to exchange their Naira to dollar at official rate, so they can repatriate their profit back home to put back into the business, which is normal for any business out there.

Because of dollar scarcity and wanting to still shore-up her dollar reserves, CBN tactical say No by delaying the FX orders.

This delay have a pressure on the black market dollar rates, because Airlines who are under pressure goes through third parties and the black market to repatriate some money, thereby causing increase in dollar price.

With this release by CBN, those pressure on the black market attributed to these Airlines will reduce thereby likely reducing the price of dollar.

gasparpisciotta:


Who is your teacher?

Sultannayef:


“because Airlines who are under pressure goes through third parties and the black market to repatriate some money, thereby causing increase in dollar price”
Note that airlines operating in Nigeria don’t do that. They wait to get the foreign currency through the CBN. If they try black market, the loss will be massive.

lekbel09:
Rubbish CBN guv'nor

IKBARUTEN11:
May APC not happen to Nigeria again

stepaside2:
Some other sectors will suffer forex deprivation due to this. We simply have to earn more USD

ivolt:
Dollar will rise again.

oluwaseyi0:
Someone should please explain the issue with trap funds

How do funds get trap when operators don't actually send their money to CBN for keeping

ivolt:

If you think dollar rise is driven by foreign airline repatriation, then you are not well informed about Nigeria's
current economic situation.

These airlines funds aren't even a recent event, it has been accumulating for months.
Even this release does not even cover everything.

The CBN delays and restricts forex because of scarcity. Period.
Any other explanation is just an attempt to hoodwink the gullible.

There has been no recent surge in forex earnings for Nigeria, so CBN playing hide and
seek on airline forex repatriation will have no long-term effect on the upward trend of dollar.

Of course, some novices will panic at a likely dip next week due to this "good news" not knowing that it is just
a temporary change. The trend will continue upward for the foreseeable future.

ivolt:

It might surprise you that some of us actually think for ourselves.
We don't rely on information from headquarters on what to think and say.

BigIyanga:

That’s why you need to in beer parlour group cos info here is above your intellectual grade to process.

legionISproteus:
Since you were born, is there a year in your life that dollar did not rise (relative to naira?)

oluwaseyi0:


Another indirect subsidy?
Or what happened to getting it from other sources like every one else

That means USA is the only country in the world they are not going to have this issue

starz100:
That means Nigeria needs more national airlines like air peace otherwise this trend of repatriating dollars is not sustainable at all.

ivolt:

Another imbe cile raises his hand.

starz100:
That means Nigeria needs more national airlines like air peace otherwise this trend of repatriating dollars is not sustainable at all.

stepaside2:
Some other sectors will suffer forex deprivation due to this. We simply have to earn more USD

MANNABBQGRILLS:


This is Beautiful.

Let's hear from the horse's mouth....


The Chief Executive Officer (CEO) of Air Peace Airlines, Allen Onyema, says it is untrue to say that President Muhammadu Buhari does not like the Igbos.

Onyema defended his viewpoint on Saturday on the grounds that his airline had hugely benefited from the current administration.

I’m a beneficiary of Buhari’s kindness to Igbos – Air Peace boss

“I thank God for our President, Muhammadu Buhari, it is very untrue that he does not like the Igbo.
Without me being a member of his party, or any party, I am a beneficiary of his support for indigenous businesses.

“The Federal Government of Nigeria has given me destinations they have never given anybody, yet I am an Igbo man, from Anambra,” Onyema said on an interview with Anambra Broadcasting Service (ABS).

Furthermore, he stressed that people should not read negative meanings to the good works of the Buhari administration.

“I don’t know anybody, I don’t have any godfather, President Buhari through his minister, Hadi Sirika, has given me China, London, Portugal, the entire Europe, United States and India.
“He’s even given me Jedda, and I’m not a Muslim; the government has given me about twenty destinations to fly to.”

He added that;
“The President wants equal economic development everywhere.”


These are the Great and True Igbo men true igbos listen to.

More from Air Peace Boss below...... in his own words

oluwaseyi0:


Another indirect subsidy?
Or what happened to getting it from other sources like every one else

That means USA is the only country in the world they are not going to have this issue

MANNABBQGRILLS:


This is Beautiful.

Let's hear from the horse's mouth....


The Chief Executive Officer (CEO) of Air Peace Airlines, Allen Onyema, says it is untrue to say that President Muhammadu Buhari does not like the Igbos.

Onyema defended his viewpoint on Saturday on the grounds that his airline had hugely benefited from the current administration.

I’m a beneficiary of Buhari’s kindness to Igbos – Air Peace boss

“I thank God for our President, Muhammadu Buhari, it is very untrue that he does not like the Igbo.
Without me being a member of his party, or any party, I am a beneficiary of his support for indigenous businesses.

“The Federal Government of Nigeria has given me destinations they have never given anybody, yet I am an Igbo man, from Anambra,” Onyema said on an interview with Anambra Broadcasting Service (ABS).

Furthermore, he stressed that people should not read negative meanings to the good works of the Buhari administration.

“I don’t know anybody, I don’t have any godfather, President Buhari through his minister, Hadi Sirika, has given me China, London, Portugal, the entire Europe, United States and India.
“He’s even given me Jedda, and I’m not a Muslim; the government has given me about twenty destinations to fly to.”

He added that;
“The President wants equal economic development everywhere.”


These are the Great and True Igbo men true igbos listen to.

More from Air Peace Boss below...... in his own words

MANNABBQGRILLS:
Rather late than never.

Anything to move our darling nation forward is all we want at MANNABBQGRILLS.

God bless our darling Daddy President Muhammadu Buhari and his amiable Vice president Prof Yemi Osinbajo for all they are doing to make this once battered and looted nation work again.
Tank God we no dey patronize that backward grill

God bless all sane, honest and hardworking Nigerians.
God bless Nigeria.

We Rise.

oluwaseyi0:
Someone should please explain the issue with trap funds

How do funds get trap when operators don't actually send their money to CBN for keeping