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Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound - Business (2) - Nairaland

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Naira May Fall To ₦700 Per Dollar Over Oil Theft, Low Export – NACCIMA / Naira May Drop On Profit-taking, Increased Demand / Naira May Depreciate To 386/dollar In H2 —pwc (2) (3) (4)

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Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by BoldBrainz(m): 10:37am On Sep 06, 2023
JP Morgan said the CBN is owing banks about 7billion dollars, Shonubi responded and said it wasn't true. Today Shonubi says CBN is going to repay 6.6billion dollars owed to banks. Why then did the CBN deny JP Morgan's initial claims?
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Elvis2kay: 10:37am On Sep 06, 2023
tongue
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by naijapower(m): 10:37am On Sep 06, 2023
He said, “For the last few weeks, we have been investigating and quite a few players have been bringing in money and selling at less than the official rate. One of those we have investigated recently is Crown Agent.

Why persecute when demand is high and price is also high
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by SmartyPants(m): 10:38am On Sep 06, 2023
SmartPolician:
This sounds like some good news, but borrowing dollars from Afreximbank to stop the naira from experiencing a free fall won't fix the problem.

Tinubu should look for sustainable, long-term solutions to the problem. Unfortunately, I don't see him doing that.

The long-term solution is to transit to local production. Everyone knows this. Unfortunately, the structural bottlenecks impeding a production-based economy are huge and painful to remove.

Can any president remove them effectively while the opposition leverages the immediate pain to score political points? We are a nation divided against itself.

3 Likes

Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by erniok(m): 10:39am On Sep 06, 2023
SmartPolician:
This sounds like some good news, but borrowing dollars from Afreximbank to stop the naira from experiencing a free fall won't fix the problem.

Tinubu should look for sustainable, long-term solutions to the problem. Unfortunately, I don't see him doing that.
What would you suggest. You may not know who would read your comments.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by seguno2: 10:39am On Sep 06, 2023
SmartPolician:
This sounds like some good news, but borrowing dollars from Afreximbank to stop the naira from experiencing a free fall won't fix the problem.

Tinubu should look for sustainable, long-term solutions to the problem. Unfortunately, I don't see him doing that.

Exactly, since he failed to do anything about amassing huge loans in Lagos since 1999, despite high IGR from the people and oil revenue allocation at $140. Meanwhile he has no commensurate government services, utilities and facilities to show for all the trillions.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by badoh(m): 10:40am On Sep 06, 2023
SmartPolician:
This sounds like some good news, but borrowing dollars from Afreximbank to stop the naira from experiencing a free fall won't fix the problem.

Tinubu should look for sustainable, long-term solutions to the problem. Unfortunately, I don't see him doing that.
Can you please suggest a sustainable long term solutions that can stabilize and make the naira robust?
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Osibajo2023: 10:40am On Sep 06, 2023
donjazzet:
I hope nigerians are aware that many of the pro-tinubu accounts here are paid agents and not casual users like you and I?

These people are a coordinated propaganda group paid to try and shape and manipulate public opinions.
Look at the "likes" on their posts, you see how it majorly corresponds with the likes on the "pro obi" posts. If on any topic, a pro obi commenter makes a post and it gets 20 likes, you see that the pro-apc posts will get that very same range. 15-25 likes.
Please more people should speak up about this seeing as Seun is not tackling this adequately.

Don't let yourself be manipulated.
lol, see pains, I love tinubu, don't know anything about Peter Obi, Tinubu paid my for my waec exam, and that act alone, won't make me forget him, who Peter Obi help
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by chukiz(m): 10:42am On Sep 06, 2023
May rebound, so it's not certain
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Israel07: 10:45am On Sep 06, 2023
People without knowledge will think this is anyway a good news... Repaying loan changes nothing, don't be fooled.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by emerged01(m): 10:46am On Sep 06, 2023
SmartPolician:
This sounds like some good news, but borrowing dollars from Afreximbank to stop the naira from experiencing a free fall won't fix the problem.

Tinubu should look for sustainable, long-term solutions to the problem. Unfortunately, I don't see him doing that.
Just like saying vigra doesnt cure premature ejaculation. The question is,"Why producing vigra if it doesnt cure it"? We all know that borrowing dollars from Afreximbank isnt a permanent solution but it is helps just like vigra...while combing for the cure.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Beniyke1: 10:49am On Sep 06, 2023
When are they paying back Emirates Airlines their $85million dollars please, so flights can resume on the Nigeria-Dubai route. That’s the one important to me abeg.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by GeneralDae: 10:50am On Sep 06, 2023
Beniyke1:
When are they paying back Emirates Airlines their $85million dollars please, so flights can resume on the Nigeria-Dubai route. That’s the one important to me abeg.
They've started payment to flights already.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by otosa(m): 10:54am On Sep 06, 2023
Acekidc4:
This is going to be the second best news today after Tribunal Court Trash Oppositions election Lawsuits and declare President Tinubu the Winner!!
and they have been feeding us the same news since 1999 and with the system of Nigeria I understand, Naira will still lose 3point to dollar at end of the match. grin
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by jude33084(m): 10:58am On Sep 06, 2023
Acekidc4:
This is going to be the second best news today after Tribunal Court Trash Oppositions election Lawsuits and declare President Tinubu the Winner!!

did you even bother to read through? cheesy
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Paradigms: 10:59am On Sep 06, 2023
Temporal solution to a big problem. You cannot run away from your shadow
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by iamtardey: 11:05am On Sep 06, 2023
Ako’i tinubu
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by iamtardey: 11:07am On Sep 06, 2023
This camera man na bastard grin
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by seguno2: 11:22am On Sep 06, 2023
SmartyPants:

The long-term solution is to transit to local production. Everyone knows this. Unfortunately, the structural bottlenecks impeding a production-based economy are huge and painful to remove.

Can any president remove them effectively while the opposition leverages the immediate pain to score political points? We are a nation divided against itself.

How do fake socialists who call themselves progressives, transit to local production with government control and ownership of factories and farms?

Is it not obvious that PDP’s private sector model is what is needed? Something that the Russians and Chinese realised a while back, and dumped socialism for prosperous capitalism of private companies
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by SmartyPants(m): 11:29am On Sep 06, 2023
seguno2:


How do fake socialists who call themselves progressives, transit to local production with government control and ownership of factories and farms?

Is it not obvious that PDP’s private sector model is what is needed? Something that the Russians and Chinese realised a while back, and dumped socialism for prosperous capitalism of private companies

I've said it over and over that Atiku had the best policies but unfortunately, he had no path to power. Now, we must make do with the man we have. The truth is, there is already a substantial reformation of the economy in terms of private sector involvement but it starts with basic things like removal of fuel subsidies and getting the refining game right which I believe is on point atm.

2 Likes

Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Yankee101: 12:56pm On Sep 06, 2023
We’ll wait until it rebounds
The mistake has been done
The devaluation to 700 plus officially
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by XAUBulls: 1:04pm On Sep 06, 2023
dre11:


https://punchng.com/dollar-debts-cbn-repays-banks-next-week-naira-may-rebound/?amp
Lol.
Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by djseanjohn77: 1:15pm On Sep 06, 2023
Abifarin16:
With too the citizens get problem. You bring Forex in through shaddy means and sell below.
This might be an isolated case but we to the masses and business people have to play our role.

Make JP Morgan dey shut up sometimes.
Dem too do

I can authoritatively tell you that many people abroad including i, have been sending money home through unregistered sources, the reason been that i will get better rate from them, and they in turn will sell at black market. Until recently, i thought i was doing any good, but soon realise we are part of what is affecting the economy. I have since started using my international online banking medium to transfer money to Nigeria account, though, there is a less amount compared to what others will offer, but the economy will have a slight impact. many monies are coming in through back doors.

That said, suppose weall wake up to a news that the dollar has crashed to N150, ins't that what we want? trust me, many people will collapse, there will be more frustration and cursing, than we have now. That is when you will realise majority of the people abroad are just noise makers, they really do not want the betterment of the nation, they are fighting for themselves and want to he heard.

1 Like

Re: Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound by Growing(m): 5:40pm On Sep 06, 2023
From the look of things, CBN just cannot stabilize the naira. Maybe they are not meant to be able to do that.

But they are one of the main reasons the naira is devalued and continues to devalue.

Printing money the way virtuay all Central banks around the world does is robbery.

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