Reference:


That is if you can live without them.

If you cannot live without them then you should be able to source fx for them through the official market

If they can’t get through the official market, then they are left with only the black market

-Naira-dollar is free to flow.
-43 non-eligible items remain banned from forex list.

Recall that in June 2015, the CBN in its effort to sustain the stability of the naira and ensure the efficient utilization of foreign exchange excluded importers of some goods and services from accessing foreign exchange at the Nigerian foreign exchange markets in order to encourage local production of these items.

The CBN had clarified then that the importation of these Items are not banned , thus importers desirous of importing these Items shall do so using their own funds without any recourse to the Nigerian foreign exchange markets.

The CBN gave clarity in light of the recent changes in the official window.

https://newswirengr.com/2023/06/16/full-list-43-non-eligible-items-remain-banned-from-forex-list-cbn/

CrazyGranddad:
Forex this. Sack that. Sign this.

Simple question.

As a Nigerian, has your life been easier in the last 3 weeks?

is it supposed to be a magic?

Agbado a$$lickers claiming obedient.
This is their new strategy 🤣🤣🤣🤣🤣🤣🤣🤣
Clowns!

CrazyGranddad:
Forex this. Sack that. Sign this.

Simple question.

As a Nigerian, has your life been easier in the last 3 weeks?

Sheyb na within 3wks dem born you. Mumu think say na magic

Acekidc4:
💸💵💰🇳🇬
This Country is going to be very Great under the Watch of President BOLA AHMED TINUBU!! This i Have Seen!!

Thanks also to the deliberate long term growth & development plans of APC...

ABOKI WITH AQUEI DOLLAR AQUEI DOLLAR 💰 BY THE ROADSIDE NO LONGER NEEDED ✌️ BECAUSE IT'S AN INSULT TO OUR NATION ✌️ HOW CAN SOMEONE TRADING DOLLARS ALONG THE ROAD OF NIGERIA IN EVERY STATE ✍️

If you are floating the naira, then lift restrictions on existing policy that banned these 43 items from accessing dollar at official rate otherwise this is just noise & creating more problems.. Importers of these items will have to go to Black market to source for dollars to buy these items & this act will further shoot dollar to over 900. Who bans rice, cement, eggs, furnitures, meat, tiles, clothes, roofing sheets etc when ur country have not acheieved self sufficiency. Only Buhari & Emiefele. This policy is the reason why things are so expensive and inflation is high. If Tinubu and his team are not thinking yet to lift this ban then they are not doing anything. Allow fair competition & lift this ban then watch economy start coming together otherwise this is just NOISE!

Tinubu hasn't started anything yet....he is only undoing the mess he caused ...we wait until he starts implementing new convincing policies

neiht:
them no ready to crash this dollar be that

No mind them

tatax:
If you are floating the naira, then lift restrictions on existing policy that banned these 43 items from accessing dollar at official rate otherwise this is just noise & creating more problems.. Importers of these items will have to go to Black market to source for dollars to buy these items & this act will further shoot dollar to over 900. Who bans rice, cement, eggs, furnitures, meat, tiles, clothes, roofing sheets etc when ur country have not acheieved self sufficiency. Only Buhari & Emiefele. This policy is the reason why things are so expensive and inflation is high. If Tinubu and his team are not thinking yet to lift this ban then they are not doing anything. Allow fair competition & lift this ban then watch economy start coming together otherwise this is just NOISE!

My brother why ? All these things should forever be banned . Our eggs can sustain us . Furniture is booming in nigeria . Companies have come to produce tiles in nigeria and they are doing well . Rice was doing well before Buhari’s bandits and brothers started their wahala . Those things need to be banned. Cement is fine . Just that the government has to prevent Dangote’s monopolistic tendencies

TsbAfrica:
you are here again haha I sight you ... Well you can keep wailing. It's a nesecary nuisance.

Did you just respond to this call....Tinubu asslickers pls come and praise Tinubu for this even though you might not understand what CBN is saying

Acekidc4:
💸💵💰🇳🇬
This Country is going to be very Great under the Watch of President BOLA AHMED TINUBU!! This i Have Seen!!

Based on a statement by CBN. Pls explain the topic

lexy2014:


Did you just respond to this call....Tinubu asslickers pls come and praise Tinubu for this even though you might not understand what CBN is saying

the fact that it flies over your head doesn't mean we all lack two brain cells to rub together. Like it or not tinubu rules and presides over your life... Listen, after your creator, the next person lording over your life is Tinubu. And might I add " for the next 8 long prosperous years".

lexy2014:


Based on a statement by CBN. Pls explain the topic

I did not come online to explain anything to anybody. If you don't understand that's your Problem.

KingsCity:


If you cannot live without them then you should be able to source fx for them through the official market

If they can’t get through the official market, then they are left with only the black market

This man is caving into pressure, he doesn't want to eliminate parallel market

blaise26abj:


My brother why ? All these things should forever be banned . Our eggs can sustain us . Furniture is booming in nigeria . Companies have come to produce tiles in nigeria and they are doing well . Rice was doing well before Buhari’s bandits and brothers started their wahala . Those things need to be banned. Cement is fine . Just that the government has to prevent Dangote’s monopolistic tendencies

What happened to the last 8years banning?

Yielded nothing. Total waste of efforts.

These people always talk about consuming local, but yet their actions is always contrary

Omoawoke:


To be honest, I don’t understand this policy.
Is there a single rate or we still using aboki rate and cbn rate??
That’s the question

It is contradictory

Egoat:
In a layman's language please?

Force of demand and supply.
Market occur at equilibrium point

Anytime u see grammar u dnt understand, jst know another experiment is on d way.

Reference:
This is wrong.
Anything denied officially will find its way to alternate market sources and will fuel it making the CBN continually chase the black market rate which will destabilize it.

Free exchange of currency aka free market means exactly that.
When you start building road blocks, blocking rivers you build up the kind of pressures seen in a dam with serious consequences if it fails.

This is where the good governance and the right economic policies I have been advocating for to compliment reforms is badly needed. We must begin to produce what we import as an active policy by the right kind of carrots and sticks.

Business as usual. These people should unify the damn thing for gawd sake. As it floats, fluctuating no less than two (2) Naira.

INTEGRITYA1:
[/b]

You want to buy house in a nice and serene environment within the axis of Lagos Mainland
Take Advantage of this beautiful Estate, located at Mowe Town by Redemption Camp and 15 minutes drive from Ojodu Berger Lagos.
Tittle: C of o.
Available in N27.5million, N25million and N20million respectfully. Make initial deposit of N5million and spread the balance for up to 12 months.

https://www.youtube.com/watch?v=F2-KwQ7NHMk

Mowe is not LAGOS stop misleading people into buying ur properties

@Egoat
In a layman's language please?

@me
If you wan sell dollar, go to your bank and tell them how much you wan sell am.

If I wan buy dollar, I will go to my bank and tell them the rate I wan pay

The bank go help you sell and help me buy using the middle of the road rate ruling in the market.

Them go document ram send to cbn.

The items wey gonment don ban from importation still remain oooo.

I try.

@fergieboy
Chai form Q business don close o.


@me
Yesooooo

chisomkachy:


https://twitter.com/cenbank/status/1669662614366957570?t=rDhn7N26w4g7wnhQH6eHlQ&s=19

The koko is what will happen to all pending form A transactions?

Reference:


This is what JP Morgan was implying. The official rate has just been raised not floated. The naira is still tethered to whoever has it. The market is still not free. And as they say, as long as this scenario remains foreign cash inflows will pussy foot.

It is like the fuel subsidy drama. Raising the price is not the same as subsidy removal or free market. The test comes in response to international forces of trade, etc. Same as the naira.

In my layman's view, I think it basically means gov has just ensured to get more naira value for less dollar income. Local debt to gov will be settled for fewer dollars.
Seems to me, inflation, reduced purchasing power for Nigerians, unless the market stabilizes and naira appreciates. But we all know Nigeria is unique, what goes up never comes down.

JoshTim:


There are rules governing over the counter market. The same thing with stock trading, there are over the counter dealings but they are still regulated. It is completely different from Aboki FX traders.

Oga leave the technicalities. In reality, if i want to buy a car from the U.S, the only way i can get dollar is through the aboki on allen avenue. I cannot get if from the bank. Simplicita.

For as long as I will need the Aboki, there can never be a unified rate. The 43 items you mentioned will still be imported. Where will the importers get the dollar to buy them? Shebi na aboki?

What has simply happened is that the benefits we were getting through a fixed price, for school fees, medicals and medicines, etc, is no longer fixed. It will be determined by forces of demand and supply. And as we speak, the force of demand and supply has left the dollar at 700 instead of 450 last week. Aboki's price has also increased to 765 from 750 last week.

CrazyGranddad:
Forex this. Sack that. Sign this.

Simple question.

As a Nigerian, has your life been easier in the last 3 weeks?

Those Dummies think it is by painting every with sign, sack and forex. Tinubu is polluting the media with his armies.
They forget that no one can hide the reality from living standards.

Jagaban.
The new beginning.
The path to progress and modernity.

Ddokie:


Oga leave the technicalities. In reality, if i want to buy a car from the U.S, the only way i can get dollar is through the aboki on allen avenue. I cannot get if from the bank. Simplicita.

For as long as I will need the Aboki, there can never be a unified rate. The 43 items you mentioned will still be imported. Where will the importers get the dollar to buy them? Shebi na aboki?

What has simply happened is that the benefits we were getting through a fixed price, for school fees, medicals and medicines, etc, is no longer fixed. It will be determined by forces of demand and supply. And as we speak, the force of demand and supply has left the dollar at 700 instead of 450 last week. Aboki's price has also increased to 765 from 750 last week.

Lol, you are wrong. The I & E rate is 764. No Aboki rate again.

Omoawoke:


To be honest, I don’t understand this policy.
Is there a single rate or we still using aboki rate and cbn rate??
That’s the question

unified exchange rate and that's single rate nothing like aboki or interbank rate any more

VeeVeeMyLuv:

What happened to the last 8years banning?

Yielded nothing. Total waste of efforts.

These people always talk about consuming local, but yet their actions is always contrary

My brother it did . I can confidently talk about furniture and tiles . I know some of them didn’t make sense . But some sectors thrived because of the import bans or restriction in access to official forex for their importation .