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Nairaland Forum / Nairaland / General / Business / CBN announces unification of FX windows, stops Naira4Dollar scheme (77989 Views)
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Femmyfamous4u(m): 8:45am On Jun 15, 2023 |
lexy2014: We have never had a president with strong finance knowledge Luke Tinubu. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Olalekanbanky1(m): 8:46am On Jun 15, 2023 |
Westerhoffe:Aswear |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by lexy2014: 8:50am On Jun 15, 2023 |
Femmyfamous4u: So? How does that translate to.success as a public servant? Emefiele also had banking career and finance background. Bawa and Magu were policemen so also was Abba Kyari. How did that turn out? Did buhari have a godfather? Buhari is a military man. What was the state of security under his regime? This is what Tinubu told nigerians about buhari. 1 Like
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by TheGoodJoe(m): 8:52am On Jun 15, 2023 |
money121: He forgot to add that if the government does not invest massively in the local market, it can not produce and we are forced to depend on imported goods. If the government does not eradicate insecurity, we are forced to depend on imported goods. If power does not improve, we are forced to depend on imported goods. Without improving local production capacity, it will prove hard for naira to rise against the dollar. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by deavicky(m): 8:54am On Jun 15, 2023 |
Dialpad:even the $100 is not monthly visible. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by PoliteActivist: 8:57am On Jun 15, 2023 |
hafeeanubasy: Actually they kinda right (see underlined below). Jagaban is like a respected gang leader - say, leader of Fulani herdsmen
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Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by agabaI23(m): 8:59am On Jun 15, 2023 |
Dialpad:The last time I did that was in 2014 at Guimaeres. It saved my neck because I went feasting on the drinks and snacks in the mini bar not knowing they were for sale.. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by softy(m): 9:01am On Jun 15, 2023 |
Blackhacker: See the bold line. No need for that kind of viper sneezing statement from you before you explain. not everyone here is an economist or accountant. We are all unique in our different callings/field of expertise. 2 Likes |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by viodemus: 9:01am On Jun 15, 2023 |
hafeeanubasy: Why are you asking me about useless people, except for Obi wey improve for the better. Moreover, igbos were highly aloof including me, we dun wake up and many still dey wake up, so we are now facing and monitoring who is in front of us. We were so used to discrimination and tolerated it. But now, we want fairness to a tee. In economics, security system, education, and infrastructure. If you dey sleep for public around bad people, dem cun dey pick pocket you one by one, then you cun conscious, - if when you conscious, you cun catch maybe the fifth person in the act, no be from there you fo start. U are giving me the vibe of a wicked tribalist. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by SKIBiNSKI(m): 9:03am On Jun 15, 2023 |
The agbero supporters of Tiefnubu on here are now wailling that they cannot understand their puresident's policy. the Tiefnubu's government they claim is working. How can they claim it is working if they cannot even understand it. Now they are begging us to explain Tiefnubu's policy to them. 1 Like |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by 1Dray(m): 9:05am On Jun 15, 2023 |
accordadoga27: Take this rubbish to the bin. 1 Like 1 Share |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by TheGoodJoe(m): 9:06am On Jun 15, 2023 |
vastolord4: One Window for All: The Central Bank of Nigeria combined different parts of the foreign exchange market into one called the Investors and Exporters (I&E) window. It's a place where all types of transactions, like medical expenses, school fees, and small business needs, will be processed. Fair Buying and Selling: They want buying and selling money to be fair, so they made a rule called "Willing Buyer, Willing Seller." It means people agree on a fair price when they trade money. Government Transaction Rate: The government will use the average price from the day before for their transactions. This helps them decide on a consistent rate for their money-related activities. No Trading Limits, but Protection: People can buy as much foreign money as they want now. But to protect themselves, they can agree to sell money in the future if the price changes. There are no limits on selling money. Transparent and Order-based Trading: People can now place orders to buy or sell money. A special group will check if everything is fair. This helps make sure buying and selling money is easy to understand. Trading Hours: People can only trade money between 9 am and 4 pm in Nigeria. Changes to Rebate Scheme and Remittance Program: Some programs that gave special benefits for certain transactions will stop on June 30, 2023. Everyone involved in the foreign exchange market needs to follow these new rules to make sure trading is fair and transparent. 3 Likes |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by LoveThemChubby(m): 9:06am On Jun 15, 2023 |
That is why he is the Jagaban. He is the leader of leaders and the god father of god fathers oluwaseyi0: |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by TheGoodJoe(m): 9:08am On Jun 15, 2023 |
oluwaseyi0: Tinubu is not getting away with anything. There is no money in the system and the government is cutting all subsidies. Including the so-called student loans program. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by TheGoodJoe(m): 9:09am On Jun 15, 2023 |
softy: He did not even break the key terms down. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by fatimaoke(f): 9:17am On Jun 15, 2023 |
A VERY BIG AMEN TO THIS YOUR PRAYER. IN ASIWAJU I TRUST AND BELIEVE GOD ALMIGHTY WILL LEADS HIM TO THE VERY BEAUTIFUL END AND WE CAN TESTIFY NOW. accordadoga27: |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by baralatie(m): 9:21am On Jun 15, 2023 |
tosyne2much:No it will not because of readiness of dollar been available when you want iy |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by Sixfeetbelle: 9:24am On Jun 15, 2023 |
LordAdam16: It's not clear, abegooo. It's not clear at all. The average Joe's are not as educated as we may pretend to be. I for one, don't understand anything |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by BarrElChapo(m): 9:33am On Jun 15, 2023 |
loswhite: Isn’t a key determinant of all financial decisions? |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by hafeeanubasy: 9:39am On Jun 15, 2023 |
viodemus:Wicked Tribalist...that is who you are And pethief OBI is not different from his gang I listed above. That is the fact! |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by hafeeanubasy: 9:41am On Jun 15, 2023 |
PoliteActivist:They are not right! The first paragraph said it all! JAR GA BAN simply means Asiwaju!(leader) You can apply that Asiwaju to whatever you like base on your own intention. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by McLizbae: 9:45am On Jun 15, 2023 |
Tinubu is a god. The president of Nigerian presidents. oluwaseyi0: |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by vastolord4(m): 9:49am On Jun 15, 2023 |
TheGoodJoe: Extensive.. thanks 1 Like |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by vastolord4(m): 9:50am On Jun 15, 2023 |
bewla: Lol |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by vastolord4(m): 9:50am On Jun 15, 2023 |
Femmyfamous4u: Very extensive, thanks |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by cyprianken: 10:00am On Jun 15, 2023 |
[Everything would be same price with black market,i think thats what the policy is about Is CBN announcement of unification of FX windows likely to ease the FORM A wahala? 🤔[/quote] |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by routed: 10:10am On Jun 15, 2023 |
Beverlyjean:Some of you have nothing to wish your nation except woes. I hardly comment here, but some of you are annoying not to respond to in a while. Those who have nothing to offer in an argument resulted to abuse. I'm an economist, I have long for this action in Tinubu various speech in the last 15years. His police has ever been consistent. No wonder he is one of the most consistent politicians in this country. Be positive for once, a sinking Nigeria is a sinking future for you and you loved ones to. May God not let anyone of us sink and our nation. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by AngelicBeing: 10:10am On Jun 15, 2023 |
HappyPagan:Hian, which God are you calling, you are a fake and miserable pagan and for saying TO GOD BE THE GLORY in your post, you will be flogged 70,000 lashes of koboko laden with chilly pepper and I will ask DSS to detain you for 70 years without bail 1 Like 1 Share |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by cyprianken: 10:15am On Jun 15, 2023 |
[Let me explain the little i know , the wide difference btw the bank rate and black market, made the demand of dollar high, because some high people would get the money from both cbn and local banks , hoard it and sell at the black market price, but right now, it wont be really profitable for the high people right now, because of the aligned rate, hence no need to go collect from bank anyone to resell, everyone can now go to the bank, ... some if these men can hoard upto the billions of dollars and keep sellingand controlling blackmarket price, imagine that money in the bank and accessibleto everyone, e go do remain.. ]The Nigerian government has attempted to increase the supply of dollars by instituting a floating naira, which allows the currency to move in response to market forces. However, we are predominantly an export based economy, so our demand for dollars will always be higher than its supply. and when the demand for dollars remain so high, the naira will continue to collapse, depreciating more in value. This could lead the naira to reach even higher levels than #1200 against the dollar.____ My small kobo[/quote] 1 Like |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by AngelicBeing: 10:18am On Jun 15, 2023 |
TheGoodJoe:Gbamsulotely, more Ororo on your head, your education was not a waste, blessed be the WOMB that carried you 1 Like |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by obyno82: 10:21am On Jun 15, 2023 |
Segzy19: If you know what SAP is then you should be wary of the dangers of unification without ensuring structures are in place. This is Nigeria we are talking about and not party. We are in for a long thing ooooo. Already Tinubu has stated that University subsidy will go that government can no longer fund universities. |
Re: CBN announces unification of FX windows, stops Naira4Dollar scheme by EgunMogaji2: 10:21am On Jun 15, 2023 |
saysoo: Nothing for me to learn here. We also have independent press and an astute observer should be able to discern government propaganda from holistic news outlets. |
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