RealLordZeus:
Oh was wondering why usd suddenly drop this morning...

Pls keep it up

This floating policy has caused more harm than intended so let's go back to the fixed regime pls

The floating was necessary to get the real value of Naira since previous governments have been defending the naira. Now that they know the value, the next step is to force it down without spending ridiculous amount of money.

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

Apply for BTA or PTA.
If you need more, contact IMTOs.

UDOKABESTLUV:
Latest Update Coming From CBN About Dollar

Dey play. No be Nigeria? BDC see themselves in this game of dollars as a king. Hope they will comply with the directive.

Coldspice:

Iraq

🙄

Is this sustainable. Anything not based on freemarket cannot go on for long.

Dyfynezz12:
No wonder dollar was 1570 this morning
I hope ppl that increased goods of 15000 to 2500 before will bring it down now that $ has come down

That's the problem, it won't as most Nigerians are just plain wicked from birth, even a pepper seller will tell you is because of dollar she's selling 2 pieces of tomatoes 🍅 for N200

Wonder yonder

God abeg oh

StOla:
Good, but why not N800?

That we still tolerate thousands of BDCs show me that CBN is yet to get serious.

They are even still allowing Nigerians to buy up to $10,000 per year for education abroad with Nigerian earned funds?

Any Nigerian public university has even charged up to $500 equivalent in Naira per year for tuition? Yet we say our academic institutions are dilapidated.

We never ready to be wicked and patriotic in this country to move forward.

By June,. It will drop to about 700 naira or less.

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

No more cash like that bros I think the most you can get is 4,000.

Maximum for that BTA is 4k or so

Coldspice:


Apply for BTA or PTA.
If you need more, contact IMTOs.

Bad news for enemies of Nigeria...those who were eagerly waiting for the rate to fall to N2,500 so they can come out and say that the government failed

/
Good move.

But it is a mere verbal intervention.

Market forces will determine the exchange rate. Right now, things are reacting to emotions and not logic. Let's not forget that $1 == N1300. Does it call for celebration? It is so bad that people are celebrating that bad news is no longer bad enough.

I am still looking more towards US policies, Fed and US inflation data to gauge the direction of US$. While some rely on hope, some are using any appreciation in naira to buy up more dollars via DCA.

Transfer rate at this moment is still N1500/$. Go figure!

/

Originality007:
This country tire me.

which county for Middle east is the best for hustling

Yemen, Syria and Afghanistan

RealLordZeus:
Oh was wondering why usd suddenly drop this morning...

Pls keep it up

This floating policy has caused more harm than intended so let's go back to the fixed regime pls

Won't work. You really think the 20k CBN is selling is enough? What of the $ not sourced from the CBN? I hope the CBN isn't serious about this because it'd amount to an abandonment of floating and a return to arbitrage, which enriches a few connected people.

Still there’s much inflation in the food commodities

In other words, it's now N1,314.01/$

UDOKABESTLUV:
Latest Update Coming From CBN About Dollar

Why do we even need BDC in handling Dollars in this country. Why can't Nigeria Bank take charge of foreign currency totally? Pls can somebody explain to me?

olax02:
Dey play. No be Nigeria? BDC see themselves in this game of dollars as a king. Hope they will comply with the directive.

They CAN'T comply–once they finish selling the CBN dollars. The CBN is losing it.

Dyfynezz12:
No wonder dollar was 1570 this morning
I hope ppl that increased goods of 15000 to 2500 before will bring it down now that $ has come down

Inflation does not reverse in Nigeria.

Speaking from experience.

UDOKABESTLUV:


Source: https://tribuneonlineng.com/cbn-mandates-bdcs-to-sell-us-dollars-at-n1314-01-us/

That's the way to go..Same move made in Argentina to stabilize their currency a bit..

donbrowser:


The floating was necessary to get the real value of Naira since previous governments have been defending the naira. Now that they know the value, the next step is to force it down without spending ridiculous amount of money.

If it was knowing the real value of the naira, why intervene before the situation has finished playing out?

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

The Obidients are the MOST CROSSED and ANGERED Specimens of humans to ever live in this world....and TACTLESS and unrealistic..

They actually believed that their principal will just join a party in 8months and win an Election Jagaban has been prepared to win for 30years...a Political Maestro..

Even the Supreme Court verdict is still wrong by them..

But the Supreme Court was right when Peter Obi was given back his mandate as Anambra governor..🤣

All they do is wait for some news that seemingly makes the Tinubu FG incompetent..that's all the fuel they need .they don't even need to eat food anymore..

In other words,the ill-timed and draconian float of the naira by this administration has been thrashed!
This policy those commendable should only be considered a story term measure and not a permanent fix!
The FG should use this period as a window of opportunity to go into serious production esp in the agric sector!
They should ensure the issue of electricity is completely fixed and the refineries working!
If not,we will be back to status quo by the start of the second quarter!

StOla:
Good, but why not N800?

That we still tolerate thousands of BDCs show me that CBN is yet to get serious.

They are even still allowing Nigerians to buy up to $10,000 per year for education abroad with Nigerian earned funds?

Any Nigerian public university has even charged up to $500 equivalent in Naira per year for tuition? Yet we say our academic institutions are dilapidated, but so eager to enable Nigerians freely move out money from our economy to aid academic infrastructure in foreign land.

Is that not enough proof to stop subsiding tertiary education in Nigeria and charge like N4m to N5m per session for post graduate courses while charging N2m to N3m for undergraduate courses per year.

Those who are brilliant but indigent would have scholarship schemes to exploit for their own tuition, while those who are not able to afford the fees and do not have the academic capacity to secure scholarship funding, can always take student loans and pay back over the initial 10years of their work career.


We never ready to be wicked and patriotic in this country to move forward.

@ bolded. Sebi floating (stop subsidizing $ for rich people) was meant to solve this problem, but you people have been fighting it?

Hezzyluv:
Shebi CBN go dey stand dey monitor thousands of BDC guys across the country to make sure they stand by the fixed price

You dey mind them.

You all money choppers in government must learn. There is no trick to growing the economy but investing in the people. If you like summersault here and there. Try this and that trick. It won't work until you start investing massively in pulling people from poverty.

Keep trying. At least you have started sharing dollars. Next thing it will clear your head to make cash available for businesses.

This is why I always wanted the naira floated.

JuanDeDios:

If it was knowing the real value of the naira, why intervene before the situation has finished playing out?

When will you know if it has played out?

Hezzyluv:
Shebi CBN go dey stand dey monitor thousands of BDC guys across the country to make sure they stand by the fixed price

They are registered now,and if they are given forex directly from CBN,that is a way to monitor them.

donbrowser:


When will you know if it has played out?

Easy. When you see some stability.

Hezzyluv:
Shebi CBN go dey stand dey monitor thousands of BDC guys across the country to make sure they stand by the fixed price

You've not been following up with the government's reforms. The BDC is being monitored now and only registered BDC will be able to sell dollars unlike before

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

but wait o wenti concern PO 4 this one person wey no know ur papa wenti u don chop like 4 times today only person wey dey inside AC garri bread rice cost e no concern him money Dey to buy enough ogun go kill whoever says we’re one I’m not an Igbo but I hate it whenever we says we’re one but deep inside ur heart we’re not one