₦airaland Forum

Lazyyouth4u:
The 81bn gain is the gain in the market cap of the entire exchange. Not Airtel’s investors.

If it was the next Netflix, investors on the LSE would be rushing it na .

Manwarrior55:
You’re right.

Only that when you’re wearing a mask you can stand with you legs but before they consider wearing a ventilator for any human the person must have lost his breath.

Your choice.

Grupo:
Just like saying "prevention is better than cure" na. Or are you just trying to be mischievous?

DexterousOne:
From my own understanding
I repeat
From my own understanding
Nigerians will eventually create alternative channels to by pass all these
If this memo is for real
Then the CBN governor is even dumber than I thought
But hey, make I close mouth dey look

emmanuelewumi:
You sef like trouble sha

TransAtlanticEx:
The moment I saw that,na that time i know say the guy is joking.
A whole Manufacturing is shrinking because companies can't access fx to use to import raw materials then one clown for NL dey talk about travel lol.
Why do you think Nigeria enter recession if not for a shrink in GDP because of faltering manufacturing sector?
So what caused the shrink?

Cyberknight:
Not as easy as that - I travelled last month and got nothing.

einsteine:
The parallel market, where it exists, is the TRUE price because that's where you can fulfill the highest demands. If you need dollars to speculate on US stocks for instance, the CBN isn't going to supply you at 389. So how is that the correct price?

We haven't even mentioned the fact that most people who get dollars at the CBN rates are even using their privileged access to arbitrage on the "black market".

As usual, you are being an idealist. Do you even follow the Nigerian economy at all?

einsteine:
Also, Emefiele is lying about the parallel market when his CBN has provided more dollars to BDCs than to legitimate importers. You can look up the numbers and you will see that the CBN's input of dollars at weekly auctions to BDCs exceeded CBN's activity at the I&E window.

einsteine:
You are deliberately refusing to get the point.


The CBN is quoting the wrong price. If it were the right price, they will fulfill all demand at that price. Lots of people are locked out of that market.

Also, Emefiele is lying about the parallel market when his CBN has provided more dollars to BDCs than to legitimate importers. You can look up the numbers and you will see that the CBN's input of dollars at weekly auctions to BDCs exceeded CBN's activity at the I&E window.

The parallel market, where it exists, is the TRUE price because that's where you can fulfill the highest demands. If you need dollars to speculate on US stocks for instance, the CBN isn't going to supply you at 389. So how is that the correct price?

We haven't even mentioned the fact that most people who get dollars at the CBN rates are even using their privileged access to arbitrage on the "black market".

As usual, you are being an idealist. Do you even follow the Nigerian economy at all?

NL1960:
He mentioned one ke. He said he will remove the multiple exchange rates.

DexterousOne:
Smh

I said I wasnt going to respond to you
I'm really resisting the urge to

You are obviously ignorant as to how banking works
And how the CBN is muzzling the banks into lending by fire by force

DexterousOne:
The risk premium in this country is VERY VERY HIGH
Most business startups will fail in Nigeria because of that
Sometimes its not because the business owners are inept
Its just the system they find themselves in
So in a country with this kind of set up
You are forcing the rates down, and even penalizing the banks who refuse to go down that act of folly of being forced to give sub prime loans
Now when those businesses fail
And the loan book begin to explode
The same CBN will tell the banks to make FULL PROVISIONS

You see how confused the man is?
The focus should be on making the business environment more friendly (which in fairness to him, the executive has more role to play in that aspect )
With the environment better, the risk reduces and then you can incentivise the system by juicing it up with liquidity
Not this cowboy behaviour we are getting

DexterousOne:
You may actually have a point
But Emefiele still bears some of the blame
I wonder what goes through his head when he makes certain decisions

DexterousOne:
Like I said
I wont go back and forth with you

DexterousOne:
So in your economics class
You were told that in a high inflationary regime, knocking the interest rate to below 1% is the wise thing to do abi ?

Can you even read what you are writing ?
Like some here have told you
You seem to be an idealist

Druss:
Is he going after the banks? Using their cards and procuring online items indicates that they do not agree with the CBN governor.

DexterousOne:
You see, prior to the Buhari presidency
Those of us who knew, know that back then, we had less than say 20 to 25 difference between what we now call "official rate" and the black market rates
The gap was not as shameful and atrocious as it is today

When you create avenues for round tripping and corruption, as human beings, many are prone to exploit it
This said
As CBN governor I would have ensured that these multiple exchange rates regimes we have (at some point we had over six) wont be a thing in the first place
Exchange rates convergence is what we need to salvage the naira a lil bit
You cannot be selling the same product (the USD in this case) at different rates to different markets , when you cannot even ensure that the markets are segregated from each other

That's dumb and thats STUPID
Ahib months ago mentioned here how Nigerians (shameless ones) are conniving with fake unis abroad and other shady entities to route USD at "the ideal rate ; then routing it back to sell to Aboki
And Sanusi himself saying that if he wants to make N100m effortlessly or so , all he needed is a couple of phone calls

Tell me honestly,
What is the sense of having this kind of exchange rate regime?

Grupo:
If you highlight their interest rates, also highlight their inflation rates.

Official inflation rate can't be circa 17% and you are defending negative interest rates.

An intelligent thing to do would be to craft local policies that are local to our specific issues instead of throwing lazy statements like "interest rates are also negative in Europe."

DexterousOne:
I have no strength to go back and forth with anybody
If you think the goat we have as central bank governor is doing a good job, so be it, it is your right

But I'll repeat again.
The man obviously does not know what he is doing

DexterousOne:
Who is talking of printing unlimited naira?
Did u hear that from me?
The man is just too dull
And slow in thinking

DexterousOne:
This foolish man we have as the central bank governor
I wonder what his end game is

modgba:
One-Year Treasury Bills Rate Now 0.15%, Three Months 0.02%
https://businesspost.ng/economy/one-year-treasury-bills-rate-now-0-15-three-months-0-02/

TransAtlanticEx:
If importers were getting it,why do you think the aboki segment price is exploding?

TransAtlanticEx:
Are those shops accessible to the shoppers?
Or have you been dreaming since?
Make I come give you naira make you sell me dollars at 391 na,how you see am?

maishai:
people just scream demand and supply but in concrete terms what really do Nigerians want........

A look @ the ports tells u
1. fuel mostly pms
2. Bikes
3. Cars for those that can afford it
4. Cloths
5. Every other thing can be lumped into 5

What really does the world want from Nigeria, a look @ the ports will also tell us
1 crude oil
2 crude oil
3 crude oil

while the solution to this problem is pretty simple


No Nigerian including all our leaders past until now has the intent of changing this status quo

einsteine:
What do you consider fair price for the dollar?

If you think it is 380, provide as much dollar at that price and I will find you all the Naira you want.

As usual, you are allowing your desires speak as opposed to the situation on ground. A higher oil price may increase the reserves but it does not improve confidence in the Naira which is what is responsible for the continuous fall of the Naira.

People do not have confidence in the management of the economy and in the currency. Even at $100 per barrel, the Naira would still come under speculative pressure as more people continue to prefer to hold HARD currency and digital currencies with relative scarcity and deflation (Ether, BTC).

Your failure to understand this is rooted in the fact that your preference is for a strong Naira. Let go of your bias and analyze objectively

einsteine:
What do you consider fair price for the dollar?

If you think it is 380, provide as much dollar at that price and I will find you all the Naira you want.

As usual, you are allowing your desires speak as opposed to the situation on ground. A higher oil price may increase the reserves but it does not improve confidence in the Naira which is what is responsible for the continuous fall of the Naira.

People do not have confidence in the management of the economy and in the currency. Even at $100 per barrel, the Naira would still come under speculative pressure as more people continue to prefer to hold HARD currency and digital currencies with relative scarcity and deflation (Ether, BTC).

Your failure to understand this is rooted in the fact that your preference is for a strong Naira. Let go of your bias and analyze objectively

NL1960:
Meaning price of fuel will soon hit N200.