How does this help. They will probably send it to account of some directors . Making the directors millionaire once Naira gets to N2000 or N2500

BigDickProblems:


I am not sorry about this, but you sound like an idiot.

In the next 14 days, come back to this thread and see why I said so.

Ibrahimcoomasie:
This is the immediate result of the policy. We hope they have what it takes to sustain it and stop the activities of speculators of which the banks are the major participant.

Nigerians banks is the only one in the world declaring huge profit without any impact in the real sector of the economy.... They are window dressing their financials or making gains frm dollars racketting.

Another fire brigade approach

ENDTIMEISNEAR:
Uselessss APC Government. This is what you get when you voted for is my turn Baba blu, Bubaba, dollar is moving to N2000
Those that voted for this Afonjaas Thieftinubu shey Una dey enjoy the high fuel price and food price

Copy and paste comment

BITE!... don't bark!
ENOUGH OF STUPID STORIES 😕😏
Sane Nigerians wants RESULTS! 💯

nairalanda1:


Yeah, and at the end, when the bank's stocks of dollars run out?

That's where the scary things start.

What is happening is simple. No extra dollars for government, so they are now on the banks' case.

The govt have been forthright about the situation. There's no USD and you know about the situation.
So let the banks bring what they have. If the stocks end like you assume, everybody will rest.

1st feb 2024 robish

APCNig:


Next formality election of 2027, we shall defeat and humiliate you again. Its going to be a formality because we have that in our pockets already. Cry, weep, wail.

fooolll

Mandate2023:


Illiterate 😂

foollllll

APCNig:


You never deactivate your account? You are not different from Bode George then.

bros leave tribe let's look for solution to this dollar issue is out of hand gee

APCNig:


Next formality election of 2027, we shall defeat and humiliate you again. Its going to be a formality because we have that in our pockets already. Cry, weep, wail.

The grasshopper is burning but it thinks that it is producing oil,the pain is yours to take.

The sabotage wr have in Nigeria is huge. Our diverse in ethnicity is a big issue.

If an hausa man governs and allows his people to penetrate the forex sector perpetrating all sorts of fraud capable of destroying the country economy in a long run and he looks away, while these kinsmen of his do this for 8 consecutive years, under indulgence and impunity it will take another serious successive government at least 2 years to clean that mess. 8 years is a whole lot of years to become so powerful. Nepotism and favoritism are bad practices.

This has been the basis upon which Nigeria has been governed after OBJ. Only obj wasn’t caught up in a this.


This is our problem on economy and security. It’s indulgence !

But America is such a great country oo. Imagine some countries in Asia or South America ordering their local banks to sell all excess Nairas.

That is what we would have been hearing if Peter Obi was in power.

Ibrahimcoomasie:
This is the immediate result of the policy. We hope they have what it takes to sustain it and stop the activities of speculators of which the banks are the major participant.

Nigerians banks is the only one in the world declaring huge profit without any impact in the real sector of the economy.... They are window dressing their financials or making gains frm dollars racketting.

For years I have been scratching my brain trying to figure out how banks made money in Nigeria. I knew their profits were never derived from making loans because they rarely made any. Derived fees were minimal to account for the ridiculous profit they were reporting. Lo and behold all they were doing was racketeering all along, betting against their country's currency trying to sabotage the economy. Where is that country attorney general when you need one? I guess since they know they could do this with impunity why wouldn't they?

If you have dollar don't sale it this is to scam you to sale your dollar for them two days from now is will reach 1700 =$1

PARADIZEPRIEST:
ANY MUROON HIDING DOLLAR PAPER money,THE US DIGITALDOLLARS WILL SOON CATCH UP WITH YOU FOOLS AND SABOTUERS WILL LOSE MASSIVELY,IFSHA

What is muroon?

Before accusing Commercial Banks, go and check what I & E window closed with today. Do not be deceived!

PARADIZEPRIEST:
KUDOS!
The new CBN regime has been shielding commercial banks alot to prevent international scandals of past regime and avoid scaring away foreign investors.
Serioid Naija bank managers are high level crooks conniving with BDCs to wrack foreign exhange system with criminality

No be when banks get dollars to sell they go sell. I keep saying it, "you can't give what you don't have"

Honestly, I weep seriously for this nation. It would literally take the hand of God to save this nation from the dungeons of these clueless demons we have in government.
What explanation can we give of a country that has oil in excess, thousands upon thousands of arable farmland, unquantifiable iron ore minerals deposits etc yet suffers and almost on the brink of economic collapse.

* The health sector is nothing to write home about. Even fresh Doctor graduates are eyeing geographical move away from this hellhole

* The economic sector is a testament to the fact that Tinubu and his team are gradually making buhari's government appear like the best thing after slice bread.

* On the security sector. I don't even know where to start. From herdsmen to bandits to kidnappers. Even the very seat of power (Abuja) is now a kidnapping den.

* We were all thanking heaven that the new Dangote refinery will save us from some economic lapses. Lo and behold, even the very nation that produces crude oil can't supply it's own refinery in its own very same land. Why, cos the previous APC bastards in government had collaterized the present and future crude supply from the oil wells for billion dollar loans. Billion dollar loans that we are yet to see its effect in our economy. Fuel is currently selling for over 500 naira and there's no guarantee that Dangote will give a kettle's cover as to the plight of end consumers. He will end up selling at the same current market price and then the whole purpose of setting up the refinery in the first place becomes defeated

Oxb90:
Fire on the mountain.
The one who is supposed to work is resting somewhere.

You too can go and work for him now.

ENDTIMEISNEAR:
Uselessss APC Government. This is what you get when you voted for is my turn Baba blu, Bubaba, dollar is moving to N2000
Those that voted for this Afonjaas Thieftinubu shey Una dey enjoy the high fuel price and food price

We are discussing something better and you are discussing about tribalism. God will heal you oo.

Do not be deceived. Get accurate information before accusing people.
Do you know how much dollars CBN is owing commercial Banks?

7lives:


They've been killing naira since IBB.
They go to CBN to bid arbitrarily for dollars, claiming they want it for their clients.
So how come they have as much as $5 billions, in their vaults?, are their client no longer interested in the Dollars?.
Oh how I love Xi Ping.
These bankers no go tie yeye cloth go do acrobatics, never again will they try such.

nairalanda1:
Government don't have enough dollars, so it's leaning on the banks...

This is going to be fun

But what happens when the bank's stocks are exhausted...? Hmm?

If the apex bank doesn't have enough dollar customers'demands what purpose of it being called bankers' bank?

Except crude oil, what else does Nigeria sell to get Dollars?

I vote for jagaban and i will still vote for him in 2027 insha Allah because it's our turn indeed

Good, if dollar is the problem, let do everything possible to eliminate it in our lives. Burn dollars! burn dollars ! Burn dollars! burn dollars ! Burn dollars! burn dollars ! Burn dollars! burn dollars ! Burn dollars! burn dollars ! Burn dollars! burn dollars !

Simple solution

Every Dollar transaction must pass through the CBN window.

Dreal1247:
When everybody wants to jakpa including the President who went on a private visit to France, we import everything including toothpick and matches that we can produce locally, these are the resultant effects.

Shut up. Nigerian has been importing and traveling since the time of Jonathan.

What’s the penalty for not adhering to the policy? What framework will the CBN use to measure compliance? And for how long?

ENDTIMEISNEAR:
Uselessss APC Government. This is what you get when you voted for is my turn Baba blu, Bubaba, dollar is moving to N2000
Those that voted for this Afonjaas Thieftinubu shey Una dey enjoy the high fuel price and food price

Please talk another thing. If you have the solution, raise up your hand and join the team of expert in CBN. Some of you just think managing the economy is 2+2. It takes people who are very intelligent and who knows their onion to steer the ship of the Nigerian economy when you have saboteurs almost everywhere. Please can you suggest one economist in Nigeria presently that you think is capable, competent and highly knowledgeable to rescue Nigerian economy from total collapse?

This Cardoso is putting all efforts to block gaps and cracks facilitating the FX scarcity in the country. Pray he succeed and get the NAIRA STABILIZE and the economy working again.

GOD BLESS NIGERIA.

For your items 1 & 2, I will say You are joking with the cabals. Do you think it's the $2k- $10k that travelers travel with that is causing this scarcity? People are moping up the USD.

Item 3 is the way to go. No USD accounts for anyone. No USD cash too exceeding $10k. However, for this to be successful, items 1 and 2 must be done, people doing business must be able to go to their banks and get USD transferred to their partners abroad. People who travel must be able to use their cards abroad.


As it is now, we are heading into a bottomless pit.

Bullfallo:
Tinubu done tire

The Solution To Nigeria FX Problem

How CBN can tackle raising inflation and bring down usd 1$ back to N200 or N500 at most.

1, For Nigerians travelers ( that needs physical cash BTA)
Asign personnel to Exchange fx directly from the Airport only with requirements like visa and traveling ticket evidence.

2, most of the Exchange fx can as well be gotten from the returning at the airport from those who might want to change their fx.

3. A) all Nigerians that needs foreign currency must open an E-naira accounts. Confiscate and mop up all physical foreign currency trading in the market and issue them the digital currency wallet via the e-naira. They can hoard limited fx if they like but it must be digital on the e-naira wallet and not on the physical notes.

B) Create a dollar, pounds, euro wallet account . (At least the major currency Nigerians are mostly using) inside the E-naira platform where people can conveniently move monies from there enaira account at the approved exchange rate converted to all currency wallets. They can as well convert it back to naira wallet any time as needed.

C) Major importers will have to registered with the CBN and ensure they are truly importers and have their limit increases base on their import capacity. No physical dollar will be giving but digital dollars on their e-naire. Also encourage foreign merchants especially the Chinese to open an enaira wallet for easier transactions. Cbn will need to promote and sell the enaire idea to Chinese merchants.

D) mini importers and others can make purchases online with the enaira dollar mastercards at a minimum limit of 5k or 10k usd a year.

E) flight tickets booking should be done via enaira master cards.

F) school fees or those sending money abroad can use the same enaira cards or crypto currency as it already been done.