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Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN - Business (5) - Nairaland

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Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote / CBN Reversed Itself On Old Notes But Accused Media Of Fake News - Daily Trust / Analysts Predict Naira Devaluation To N400/$ (2) (3) (4)

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Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Eriokanmi: 7:20pm On Jun 02, 2023
emmyN:


Where is the CBN going to get the dollar from to make it available to anyone that asks? Perhaps you don't realize the reason for the previous dollar scarcity. Nigeria nor get money (foreign exchange), and Nigerians request for forex for even the most mundane things. So we have a demand that is more than supply which makes it difficult for the CBN to keep up, hence the parallel market.
Yes, we had the demand that was more than supply at the CBN's unrealistic rates. Now, dollars will be available but at the newly devalued rates cos everyone who goes for bidding will get. Our foreign exchange earnings still remains crude. This has appreciated greatly in price for over a year now. Don't believe them when they say there's no Dollar. Its a big lie. Its the rates that aren't realistic.
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Youngkaro45: 10:54pm On Jun 02, 2023
Emetex22:

You don't open your watery diarhic mouth to spew nonsense when you don't have a cushion, that's the difference, your head is rather filled with dumps and shit

You have not communicated bro. You need to know what's going on in your country not just to do copy and paste nonsense and think you have said something reasonable
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Youngkaro45: 10:54pm On Jun 02, 2023
betshopagent:
Kid!

Sorry, Methuselah
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Youngkaro45: 11:01pm On Jun 02, 2023
HRprof:


Removed sentiment aside, Buhari signing subsidy removal before leaving office says the effect begins in July so it takes a good thinking incoming president to put things in place before the removal takes effects to avoid what we are currently facing now. Tinubu might had good leadership skills but not now that he is suffering from Dementia and his brain not functioning properly. That’s why we need a quality leader. He will soon jet out to do top up as usual. Cabal will continue to use him as they used Buhari to loot this country.

You are right, Tinubu even before winning election knows that fuel subsidy lasts till June 30th and should have devised various measures which will make Nigerians not to feel the heat too much, since he categorically said he will win the election. But as it stands, everything looks bleak and we should just brace up for what is yet to come. Plus, we really do not love ourselves, he just mentioned subsidy removal, the next day everything skyrocketed.
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Israel07: 11:10pm On Jun 02, 2023
Youngkaro45:


You are right, Tinubu even before winning election knows that fuel subsidy lasts till June 30th and should have devised various measures which will make Nigerians not to feel the heat too much, since he categorically said he will win the election. But as it stands, everything looks bleak and we should just brace up for what is yet to come. Plus, we really do not love ourselves, he just mentioned subsidy removal, the next day everything skyrocketed.

That's how economics works, that's how the wall street makes its move. Presidential speeches always get response from the market that's is why the statement shouldn't have been made n hey the government also skyrocketed their price.
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by emmyN(m): 11:52pm On Jun 02, 2023
Eriokanmi:
Yes, we had the demand that was more than supply at the CBN's unrealistic rates. Now, dollars will be available but at the newly devalued rates cos everyone who goes for bidding will get. Our foreign exchange earnings still remains crude. This has appreciated greatly in price for over a year now. Don't believe them when they say there's no Dollar. Its a big lie. Its the rates that aren't realistic.

We are not earning enough forex, reason they are taking out subsidy. Much of what we earn is paid back in foreign debts, so there is little to go round at the moment. Dangote's refinery may help the situation soon as the FG is planning to source forex from them when they are fully in operation. Nigeria is in a huge mess presently. The harm done by the Buhari-led administration in piling up debts with little infrastructure to account for it is astronomical.
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Emetex22(m): 12:59am On Jun 03, 2023
Youngkaro45:


You have not communicated bro. You need to know what's going on in your country not just to do copy and paste nonsense and think you have said something reasonable
I am not your bro, even an idiot can sense what's going on, how do you remove subsidy when there are no structural establishment to channel the so called palliatives to the poor masses, again you don't have to comprehend, like I said earlier, your brain is full of shit, I said it and hope you are enjoying being BATIFIED
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Zanzibar1: 12:50pm On Jun 04, 2023
dayleke:
E don happen
boss since 2008. Naa you be man
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by dayleke: 3:40pm On Jun 04, 2023
Zanzibar1:
boss since 2008. Naa you be man

What you mean my chairman?
😁
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Zanzibar1: 12:01pm On Jun 05, 2023
dayleke:


What you mean my chairman?
😁

Your boy is loyal... No problem egbon
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by dayleke: 6:20pm On Jun 05, 2023
Zanzibar1:


Your boy is loyal... No problem egbon


Agbaya ni yin sir...

Registration date....😁🙈

I'm "loyaler". 😅
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Youngkaro45: 8:53pm On Jun 06, 2023
Emetex22:

You don't open your watery diarhic mouth to spew nonsense when you don't have a cushion, that's the difference, your head is rather filled with dumps and shit

Accepted but you that have a mature brain, what have you made from life? Ask yourself sincerely, leave online, what have you made from life with your mature brain?
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Emetex22(m): 9:31pm On Jun 06, 2023
Youngkaro45:


Accepted but you that have a mature brain, what have you made from life? Ask yourself sincerely, leave online, what have you made from life with your mature brain?
I don't have to brag for my achievements because God giveth mercy and favour, now go back to where you come from, keep going except you have a land for sale, move on
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by Gerrard59(m): 3:24am On Jul 26, 2023
Eriokanmi:
I'd advise those still hoarding dollars in anticipation of selling at 755 to begin selling sharply. Dollars fell to 715 naira at the black market yesterday. The implication of the recent policy is, dollar will be made available to anyone who needs it at 635, including the bdcs. The difference between the official and black market rates won't be much, as we once had it some years back. I see dollar trading at 655 at the black market soon cos it will be available to every bidder, including the BDCs if you now wish to approach the bank to get fx at the official rate, you'd need to present your TCC to enjoy the rate difference

I recalled when my mom asked me whether she should sell the dollars she had, I replied no. She asked why?

I responded, "I have never lost betting against Nigeria. Hold your dollars, and hold it tight."

1 Like

Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by dfrost: 7:57am On Jul 26, 2023
Eriokanmi:
I'd advise those still hoarding dollars in anticipation of selling at 755 to begin selling sharply. Dollars fell to 715 naira at the black market yesterday. The implication of the recent policy is, dollar will be made available to anyone who needs it at 635, including the bdcs. The difference between the official and black market rates won't be much, as we once had it some years back. I see dollar trading at 655 at the black market soon cos it will be available to every bidder, including the BDCs if you now wish to approach the bank to get fx at the official rate, you'd need to present your TCC to enjoy the rate difference

How far? What's the rate today? Just asking oooh.
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by dfrost: 7:57am On Jul 26, 2023
Gerrard59:


I recalled when my mom asked me whether she should sell the dollars she had, I replied no. She asked why?

I responded, "I have never lost betting against Nigeria. Hold your dollars, and hold it tight."


So both of us are monitoring his comment 😋🤣
Re: Devaluation: ‘We Stand By Our Story’, Daily Trust Replies CBN by lastkingsman: 9:51am On Jul 26, 2023
Gerrard59:


I recalled when my mom asked me whether she should sell the dollars she had, I replied no. She asked why?

I responded, "I have never lost betting against Nigeria. Hold your dollars, and hold it tight."


https://nairametrics.com/2023/07/25/cbn-says-it-is-not-trying-to-unify-exchange-rates/

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