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CBN formalises dollar sales to BDCs as naira improves - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN formalises dollar sales to BDCs as naira improves (33975 Views)

Naira Depreciates Further As Dollar Sales To BDCs Wobble / Oil Companies Resume Dollar Sales To Banks As CBN Eyes Supply / Naira Falls After CBN Stops Forex Sales To BDCs (2) (3) (4)

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Re: CBN formalises dollar sales to BDCs as naira improves by datola: 6:45pm On Feb 27
I
Re: CBN formalises dollar sales to BDCs as naira improves by emmyclassic(m): 6:46pm On Feb 27
2mch:
This OP is a stark illiterate and all the fools rejoicing on this thread are all blockheads and extremely unintelligent. No way and at no poInt does this article indicate that there is a Change in floating the Naira. It just means the CBN is regulating BDC and the rate with much stricter policies. Making the Naira stronger. A lot of you are fools sha, no wonder Obi could make fool of you people like this and those dumb politicians actually get away with a lot.
Wait till this time next month before you start calling people stark illiterate.

4 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by spiSeyi: 6:47pm On Feb 27
Why do some people like crying, when Naira falls they cry, when it rises they crygrin . All I know is that they will all see the rise of Naira and great Nigeria undecided

8 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by Hoelujohn: 6:48pm On Feb 27
a4cube:
This u turn pass the u turn of London black cabs.
As long as naira go stabilize

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by SouthSouth1914: 6:52pm On Feb 27
And you will tell me these people know what they are doing? Rubbish! In a working system, Cardoso would have been fired and charged with treasonable offense relating to the economy!

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by bigdammyj: 6:53pm On Feb 27
Noted.
Re: CBN formalises dollar sales to BDCs as naira improves by Calitoscassius(m): 6:54pm On Feb 27
emmyclassic:
Wait till this time next month before you start calling people stark illiterate.
Don't mind the idiat
Re: CBN formalises dollar sales to BDCs as naira improves by Ofunaofu: 6:54pm On Feb 27
EmiloCorn:
Yes our Jagaban is working.

This mandate I am standing on is too solid cool



This thing you posted is treasonous angry take it back jor

How can you say our oga is playing kalo - kalo with the lives of over 200 million people?

Are, you okay?
Is he okay?

You people should be careful on this place oh let us not call DSS for many of you undecided

A mandate that have brought hunger and starvation upon the nation

It's a cursed mandate

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by membranus: 6:55pm On Feb 27
This will be bad news for the obidients who are expecting Nigeria to kpai.

7 Likes 2 Shares

Re: CBN formalises dollar sales to BDCs as naira improves by EdiskyHarry: 6:56pm On Feb 27
Continue your propaganda
Re: CBN formalises dollar sales to BDCs as naira improves by Eriokanmi: 6:56pm On Feb 27
Like I said before, they can't do without the bdcs. It's impossible. Banks aren't sincere in allocating fx which now makes bdcs the last resort for fx needs. This will reduce the pressure on the part of the naira.

Instead of scrapping bdcs, arresting them or increasing their share capital to discourage operations, why not regulate their activities?

I hope they can improve on that and naira can regain its strength cos only their policies affect everyone

2 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by GentleRay: 6:56pm On Feb 27
This is regulation. Kudo! Cardoso. All operators must be under some regulations including the Banks.

3 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by allthingsgood: 6:56pm On Feb 27
AllTheWayUp:
grin grin grin
After destroying the economy and decreasing the purchasing power of Nigerians with their trial and error policies , they have now gone back to their vomit.
Thunder fire Tinubu
Thunder fire all those who supported Tinubu for floating the Naira

You guys always have problem for every solution. lol

4 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by Randomgist(m): 6:57pm On Feb 27
I personally don't understand all these forex jargons so much. My own is that we care so much about dallar because we don't produce enough for ourself as a country. Why can't the govt direct enough energy into production like agriculture and others. I just hope that all these palliatives and youth unemployment stipends or something will not worsen the situation .
Re: CBN formalises dollar sales to BDCs as naira improves by FinestPINACLE(f): 7:01pm On Feb 27
Now that Naira has improved, we won't hear pim from marketers sad grin grin

3 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by NothingDoMe: 7:04pm On Feb 27
Nice strategy to crash the dollar price 😏
Re: CBN formalises dollar sales to BDCs as naira improves by HellVictorinho6(m): 7:06pm On Feb 27
HeatSeeker:


Honestly, they owe him a very big apology.



Emefiele is part of them
Re: CBN formalises dollar sales to BDCs as naira improves by JuanDeDios: 7:09pm On Feb 27
richiemcgold:
We should try and read attentively before running to the comment section. Based on what I read up there, I don't think the floating has really been reversed. So why are those people above me shouting floating upandown?
In a nutshell, the fx market has been extended to BDC again but it is specifically for eligible BDCs and the market can still be well monitored by the CBN.
You dey mind them. CBN is intervening in the market to increase dollar liquidity in a bid to prevent the rate from going up. That is different from fixing the rate. As long as they're not FIXING any rate, the market remains floated.

3 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by lexy2014: 7:10pm On Feb 27
LegendHero:
I love this.

So it will be determined by the true market rate of the previous trading day spot transaction of NAFEM.

So the market will still determine the rate every week.


who determined the rate of N1,301/$1?

is it market forces or CBN?

3 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by Calylove: 7:10pm On Feb 27
That is a good move. We look forward to better days.
Re: CBN formalises dollar sales to BDCs as naira improves by LandMann: 7:10pm On Feb 27
Tinubu set his agents to be chasing abokis around the streets of Nigeria and they in turn made dollars scarce and more expensive while their brother jacked up the price of cement and other commodities to strangulate Nigerians so that they can heap on the blame on Tinubu.

I guess Tinubu has seen that they'll defeat him hands down so he's backtracking by restoring sales of dollars to abokis so that they can continue funding their agenda for Nigeria.

Nigerians open your eyes o
Re: CBN formalises dollar sales to BDCs as naira improves by kelvindj98: 7:11pm On Feb 27
richiemcgold:
We should try and read attentively before running to the comment section. Based on what I read up there, I don't think the floating has really been reversed. So why are those people above me shouting floating upandown?
In a nutshell, the fx market has been extended to BDC again but it is specifically for eligible BDCs and the market can still be well monitored by the CBN.
Obidients are the dumbest people in Naija. They pretend to be intelligent though.

4 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by JuanDeDios: 7:11pm On Feb 27
lexy2014:


who determined the rate of N1,301/$1?

is it market forces or CBN?
Since the CBN did not fix it, it's market forces. Next question.

5 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by lexy2014: 7:12pm On Feb 27
richiemcgold:
We should try and read attentively before running to the comment section. Based on what I read up there, I don't think the floating has really been reversed. So why are those people above me shouting floating upandown?
In a nutshell, the fx market has been extended to BDC again but it is specifically for eligible BDCs and the market can still be well monitored by the CBN.

who determined the N1,301/$1 rate?

why should CBN monitor how BDCs wish to sell their dollars?

2 Likes 1 Share

Re: CBN formalises dollar sales to BDCs as naira improves by lexy2014: 7:12pm On Feb 27
JuanDeDios:

Since the CBN did not fix it, it's market forces. Next question.

that is not what I asked you.

who determined the rate of N1,301/$1?

is it market forces or CBN?

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by JuanDeDios: 7:13pm On Feb 27
lexy2014:


that is not what I asked you.

who determined the rate of N1,301/$1?

is it market forces or CBN?
Fastest speed to respond. Zero comprehension. Smh.

2 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by lexy2014: 7:14pm On Feb 27
JuanDeDios:

Fastest speed to respond. Zero comprehension. Smh.

since you have more than zero comprehension, then choose an option.

who determined the rate of N1,301/$1?

is it market forces or CBN?

3 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by Keegan: 7:14pm On Feb 27
SensualMan:
Tinubu is working! The economy is fantastic!

Bola Ahmed Okechukwu Tinubu!

On your mandate we shall stand!

Jagaban till 2039

Dry. Take this toy 🪀 and play outside. People with common sense are discussing.

2 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by LegendHero(m): 7:15pm On Feb 27
lexy2014:


who determined the rate of N1,301/$1?

is it market forces or CBN?

The market. They are using the closing rate of the previous day.

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by richiemcgold: 7:16pm On Feb 27
lexy2014:


who determined the N1,301/$1 rate?

why should CBN monitor how BDCs wish to sell their dollars?

CBN also sells to banks and monitors how much the banks sell to their customers

I think the same thing is applicable to BDCs

I'm not a financial expert or economist though, I say it based on what I read up there.
Re: CBN formalises dollar sales to BDCs as naira improves by hansomb: 7:18pm On Feb 27
AllTheWayUp:

grin grin grin
Tinubu is ruling Nigeria with Trial and error strategy
Reminds me of one mathematics method like that factorisation using trial and error method, sometimes I have to solve 5 times b4 arriving at the answer, time don go.
Re: CBN formalises dollar sales to BDCs as naira improves by Geovanni412(m): 7:19pm On Feb 27
LegendHero:
I love this.

So it will be determined by the true market rate of the previous trading day spot transaction of NAFEM.

So the market will still determine the rate every week.


Thank you for educating some of us.

2 Likes

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