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CBN Sells Dollars To Banks For First Time In 5 Months - Business (2) - Nairaland

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CBN Sells Fresh Dollars To Bdcs At N1,021/$ / CBN Sells Dollars To BDCs Below Market Rate At ₦‎1,101/$1 / CBN Sells Over $300m To Banks As Naira Gains (2) (3) (4)

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Re: CBN Sells Dollars To Banks For First Time In 5 Months by Authoreety: 2:17pm On Feb 14
Money
Re: CBN Sells Dollars To Banks For First Time In 5 Months by apesinola001: 2:17pm On Feb 14
BULABA BULABA BULABA
Re: CBN Sells Dollars To Banks For First Time In 5 Months by shortgun(m): 2:17pm On Feb 14
Smartguyboy:
Obi is a fraud
Will never rule this zoo

Looking and laughing at them now .
Where was obi's name mentioned in the article?
Get a life dude

4 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by sukkot: 2:18pm On Feb 14
Sangoamadioha1:




Tell me one rich man in Nigeria whose hands are not tainted with corruption.
not one. These people have no factories but are worth billions of dollars. Producing what ?

2 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by MorataFC: 2:18pm On Feb 14
sukkot:
Warevaaaa. We hear how Wigwe and co are given dollars by CBN and how that’s how they all got rich
hmmm

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Bluntemperor: 2:18pm On Feb 14
Saturnalia:
And the Banks will sell to their BDC operators at black market rate, then the cycle continues.
Until the Black Market is scrapped, trust me, this is an exercise in futility.

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by paskal16: 2:18pm On Feb 14
Kukuma open the federal government dollar treasury and flood the economy/market with 5billion dollars
If you're bereft of ideas on how to save the naira
Re: CBN Sells Dollars To Banks For First Time In 5 Months by Toyade888(m): 2:19pm On Feb 14
chiefolododo:
CBN selling at 1490, how much then will the banks sell it ?

1491
Re: CBN Sells Dollars To Banks For First Time In 5 Months by Mitsurugi(m): 2:19pm On Feb 14
Omoawoke:
Let me say something.

If you have ever gone into CBN and see the way the staff are working and the kind of people there, you will know Nigeria’s problem is deeper than you think.

When you have a sensitive system occupied by incompetent people, people who got the job through slots and nepotism.
Enter cbn office and see their staff watching movies in their laptops, doing little or nothing other than occupying space and earning salaries.

How do you expect such system to function


I totally agree
Re: CBN Sells Dollars To Banks For First Time In 5 Months by Mitsurugi(m): 2:19pm On Feb 14
Smartguyboy:
Obi is a fraud
Will never rule this zoo

Looking and laughing at them now .

You need help
Re: CBN Sells Dollars To Banks For First Time In 5 Months by Wisedove(m): 2:19pm On Feb 14
Trust me, the banks will sell almost 80 percent of the dollars to BDC within a week, and those ones on the other end will hoard the money which will always leads to artificial scarcity.

Banks sell dollars to BDC, they sell new notes to politicians, celebrities and socialite

The government should raise a committee to checkmate the illegal activities going on in the banking sector if they are really ready to make a change.

2 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Navalsadiq(m): 2:20pm On Feb 14
This is absolute rubbish.tinubu is profiting from this seriously at the expense of the expense of Nigerians and Nigeria .if they sell at this exhobitant rate,How much do they expect the banks to sell to end users?.

He met the dollar at the rate of of 600 naira to a dollar.what exactly is he doing.i thought they have brains and they can turn the economy around.this isnt good at all

3 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by NextUK: 2:20pm On Feb 14
But a sound you can't think of anything to do but comment foolishly about what you know nothing about.


meum:
A sound economist would have known what to do not all these trial & error these people are doing to our economy.

2 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Realdeals(m): 2:20pm On Feb 14
Lol! Smart economist like who? Guess you're one
meum:
A sound economist would have known what to do not all these trial & error these people are doing to our economy.
Re: CBN Sells Dollars To Banks For First Time In 5 Months by yewit37486: 2:21pm On Feb 14
sukkot:
Warevaaaa. We hear how Wigwe and co are given dollars by CBN and how that’s how they all got rich

It's like you have scores to settle with Wigwe, the way you've been going on since he passed. What's up?

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by yewit37486: 2:22pm On Feb 14
Omoawoke:
Let me say something.

If you have ever gone into CBN and see the way the staff are working and the kind of people there, you will know Nigeria’s problem is deeper than you think.

When you have a sensitive system occupied by incompetent people, people who got the job through slots and nepotism.
Enter cbn office and see their staff watching movies in their laptops, doing little or nothing other than occupying space and earning salaries.

How do you expect such system to function

I don't disagree.
But those people have always been there, what's changed?
Re: CBN Sells Dollars To Banks For First Time In 5 Months by sukkot: 2:22pm On Feb 14
yewit37486:


It's like you have scores to settle with Wigwe, the way you've been going on since he passed. What's up?
these are the men who destroyed the country. The bankers. The money pushers 👀

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Dreamchasers31(m): 2:22pm On Feb 14
Well I just left the bank, they said they don't have dollars, but the dollar dey aboki hand, make una dey play

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Sangoamadioha1: 2:24pm On Feb 14
sukkot:
not one. These people have no factories but are worth billions of dollars. Producing what ?


But see us celebrating the architects of our national problems as national heroes.

3 Likes 1 Share

Re: CBN Sells Dollars To Banks For First Time In 5 Months by naijapips04: 2:24pm On Feb 14
Lol. Anu mpams. They are walking back on their Naira floating. Bunch of dimwits.

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by sukkot: 2:25pm On Feb 14
Sangoamadioha1:



But see us celebrating the architects of our national problems as national heroes.
not me. I don’t celebrate nobody .

2 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Smithwilliams826: 2:26pm On Feb 14
.
Re: CBN Sells Dollars To Banks For First Time In 5 Months by yewit37486: 2:26pm On Feb 14
sukkot:
these are the men who destroyed the country. The bankers. The money pushers 👀

Well, I would say the politicians AND the bankers. Remember the Ogun state finance director guy who was killed some months ago after withdrawing N118 million from 2 banks, he couldn't have done that without the bank's full support - in a country where customers were being told they couldn't withdraw more than 100k at once, yet a government official withdrew over 100m, so yes, they are in bed together. Wigwe is just one of several as 99% of the top bankers are in this, including currency roundtripping. The good thing is the consequence will go round eventually.

7 Likes 1 Share

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Honestey: 2:27pm On Feb 14
".....CBN sold the dollars at a rate as low as N1490 per dollar....." e go red gan oo
Re: CBN Sells Dollars To Banks For First Time In 5 Months by tete7000(m): 2:28pm On Feb 14
Saturnalia:
CBN sells to Banks @ 1,490 Naira? And the Banks will sell to the BDC operators @ 1,690 Naira; BDC will sell to the general public @ 1,890 Naira, and the cycle continues.

Until the Black Market is scrapped, trust me, this is an exercise in futility.

You can't scrap black market if scarcity persists, the scarcity ensures that the black market exists. Solution to black market is to get surplus dollars into the economy by encouraging production and you will see black market disappears, and even if it doesn't disappear, the margin between it and the official market will disappear.

4 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by nairalanda1(m): 2:28pm On Feb 14
But we are still not earning much dollars.

That's the koko

2 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by ogawisdom(m): 2:30pm On Feb 14
cool

My friend bought 5000 USD yesterday at 1525 and I was still telling him it's too high but he expressed confidence it will be 2000 before one month time. Hmmm today alone USD is 1575 he has gained 50 x 5000 = 250k after 24 hrs

As long as Nigerians have extreme confidence in USD and can buy it at any amount for speculation purpose it will keep rising. USD has become an asset people buy and keep to profit from.

Nothing appreciates faster than USD in Nigeria now so everyone is buying USD at any amount.

Any amount CBN put up for sale will be bought in 7 days for hoarding & artificial scarcity is created to make it rise again.

Floating naira is a terrible decision that must be reversed angry angry

6 Likes

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Whytelyon(m): 2:30pm On Feb 14
Saturnalia:
CBN sells to Banks @ 1,490 Naira? And the Banks will sell to the BDC operators @ 1,690 Naira; BDC will sell to the general public @ 1,890 Naira, and the cycle continues.

Until the Black Market is scrapped, trust me, this is an exercise in futility.

Then some Locations would add 50 or deduct 50 naira respectively.
One currency, 4 rates.

This is what I was telling my father and he did not understand.

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by sukkot: 2:31pm On Feb 14
yewit37486:


Well, I would say the politicians AND the bankers. Remember the Ogun state finance director guy who was killed some months ago after withdrawing N118 million from 2 banks, he couldn't have done that without the bank's full support - in a country where customers were being told they couldn't withdraw more than 100k at once, yet a government official withdrew over 100m, so yes, they are in bed together. Wigwe is just one of several as 99% of the top bankers are in this, including currency roundtripping. The good thing is the consequence will go round eventually.
so you know all this and are wondering why I am against bankers ? It’s nothing personal against the man himself but he is a major part of the problem.

1 Like

Re: CBN Sells Dollars To Banks For First Time In 5 Months by Cul4real(m): 2:31pm On Feb 14
chiefolododo:
CBN selling at 1490, how much then will the banks sell it ?

I wonder ooo
Re: CBN Sells Dollars To Banks For First Time In 5 Months by Whytelyon(m): 2:32pm On Feb 14
Smartguyboy:
Obi is a fraud
Will never rule this zoo

Looking and laughing at them now .

Those Osiwin people.
Make person advice Obi make e no reason am. Me go personally Vote tinubu come 2027, make these useless idiots die finish.
Bunch of useless and aimless people way no see sense get.
Re: CBN Sells Dollars To Banks For First Time In 5 Months by yewit37486: 2:34pm On Feb 14
sukkot:
so you know all this and are wondering why I am against bankers ? It’s nothing personal against the man himself but he is a major part of the problem.

I thought you had issues with him as a person, not as a banker.

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