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CBN formalises dollar sales to BDCs as naira improves - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN formalises dollar sales to BDCs as naira improves (33974 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 Johncuppa(m): 8:43am On Feb 28
Bostin:
do you really know the meaning ?
Identifying solution to a problem through diagnosis or analysis.

So human beings are suppose to be test specimen or policies that can lead to human death are suppose to be done experimentally.
Pele, Mr English
Re: CBN formalises dollar sales to BDCs as naira improves by Babinski: 9:10am On Feb 28
a4cube:
This u turn pass the u turn of London black cabs.

The CBN Governor and his team appear not to know what they are doing. After floating the Naira they are now trying to peg it against after all efforts seem not to yield the desired result. This is trial and error monetary policy.

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Re: CBN formalises dollar sales to BDCs as naira improves by Dsimmer: 2:36pm On Feb 28
The BDC should be totally banned sef. They're money launderers.

They all should be banned or regulated. Everyone including the Banks must have their dollar account with CBN to monitor any rogue. Crypto should also be regulated and registered as money service company which should be regulated or banned!

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Re: CBN formalises dollar sales to BDCs as naira improves by lexy2014: 4:13pm On Feb 28
oluwaseyi0:


1) if they buy from government at 1300 with an agreement not to go above 1% tell me why they should sell at 2500 per dollar, no one forced them to buy from government knowing government has terms and conditions

2) the official market which is controlled by the market force determine the government selling price, government sells at the previous day lower price spectrum of the official rate, as market price fall so also the amount the government will sell to BDC and they can't go above 1percent, same is applicable when the price rise in the official market

3) government is been controlled by the official market and not vice versa, the official market dictate what the government will sell but leaving speculators to decide parallel market rates is currently not working so what I expect a reasonable government to do is step in to the parallel market but be fully guided/controlled by the official rate


1. which agreement are you talking about? why should they sign any agreement? is there any such agreement in place? if there is none, then how are you now saying that BDC operators should be arrested if they above a certain price? what then is the essence of the so called floating if government is regulating?

2. what happened to "market forces" that you are now that you are suggesting that government should regulate?

3. is government not controlling the price of the dollar by selling at 1300? simple yes or no
Re: CBN formalises dollar sales to BDCs as naira improves by Breakfreee: 5:39pm On Feb 28
Emefiele was the one who float the Naira when he said let the price of dollar be determined by the parallel market, and that dollar should be determined by demand and supply. That was when I new that Buhari government will fail.
Re: CBN formalises dollar sales to BDCs as naira improves by Dsimmer: 8:37pm On Feb 28
Dsimmer:
The BDC should be totally banned sef. They're money launderers.

They all should be banned or regulated . Everyone including the Banks must have their dollar account with CBN to monitor any rogue. Crypto should also be regulated and registered as money service company which should be regulated or banned!

All speculators and launderers which include crypto and BDC should be regulated or banned. Likewise the Banks who should be monitored.

If it's not to invest in industrialization which also includes large scale mechanized farming in combination with agro industrialization, I don't see why individuals should be getting dollars from CBN for example.

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