CBN To Supply FOREX To Banks Only - Business

CBN To Supply FOREX To Banks Only - Business - Nairaland

Nairaland Forum › Nairaland General › Business › CBN To Supply FOREX To Banks Only (25079 Views)

CBN To Supply FOREX To Banks Only by aminulive(op): 4:13pm On Jul 27, 2021

POLITICSNIGERIA.COM

The Central Bank of Nigeria has announced that Forex will only be supplied to banks as all sales to Bureau De Change operators (BDCs) have been discontinued.

CBN Governor, Godwin Emefiele made this revelation during a Monetary Policy Committee (MPC) meeting on Tuesday, July 27th.

Emefiele disclosed that the apex bank had to make this move because of the suspicious activities of BDC operators and their utter disregard for CBN exchange rate policies.

He expressed disgust at the weening greed of BDC operators seeking to make abnormal gains at great risk to the country's financial system.

He listed several offences committed by BDC operators which include subversion of the CBN’s cashless policy, Dollarization of the Economy, prevailing ownership of several BDC by the same owners in order to get multiple FX and ‘regrettably,’ international organisation and embassy patronage of illegal forex dealers.

The MPC also expressed confidence in the directive adding that it was a step in the right direction.

https://politicsnigeria.com/just-in-cbn-to-sell-forex-to-banks-only/

16 Likes 3 Shares

Re: CBN To Supply FOREX To Banks Only by paddyDIGITAL(m): 4:21pm On Jul 27, 2021

aminulive:
POLITICSNIGERIA.COM

https://politicsnigeria.com/just-in-cbn-to-sell-forex-to-banks-only/

This is a clear case of throwing the baby out with the bathwater.

10 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by Mycoin(m): 4:39pm On Jul 27, 2021

We move

1 Like

Re: CBN To Supply FOREX To Banks Only by FARA4GA: 4:39pm On Jul 27, 2021

https://www.youtube.com/watch?v=6wlJpLG22K4

Correct..... My only fear is that banks have been known to be conniving with the BDC operators..... I've seen bankers tell customers there is no dollars in the branch.... Only for a BDC operator to mater come and collect tens of thousands of naira.... All because they will end up tipping the banker.

Nigeria problem isn't all about changing policy.... We need to change our mindset....

Look at the above video, it happened last week Saturday. .... Later the fools in the video will blame the government for bad governance.... When it's them that sold their future and ours into the hands of the criminal politician...

I Don tire for this country... I no go lie

58 Likes 6 Shares

Re: CBN To Supply FOREX To Banks Only by CelestineNelson: 4:39pm On Jul 27, 2021

Re: CBN To Supply FOREX To Banks Only by Nobody: 4:40pm On Jul 27, 2021

Emefiele and his numerous policies . Let's see how things will go.

1 Like 1 Share

Re: CBN To Supply FOREX To Banks Only by Goldenheart(m): 4:40pm On Jul 27, 2021

makes sense....

Generally most Nigerians BDC are Greedy.

Greed doesn't mean you shouldn't make profit... But when you try to eat more than you should... Thats low

22 Likes 1 Share

Re: CBN To Supply FOREX To Banks Only by sofeo(m): 4:40pm On Jul 27, 2021

Ok.

Re: CBN To Supply FOREX To Banks Only by slawormiir: 4:40pm On Jul 27, 2021

Damnnn niggarrrr
Isoright .......

This just reminds me....

I be dey reason say I go soon open dormicillary account o

Weed and bombing nor dey allow me remember ..

All my own na to just dey smoke weed, bang pussy, bomb and drink alcohol

40 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by Skoonheid(f): 4:40pm On Jul 27, 2021

/ Emefiele is a financial terrorist/ War never takes a wicked man by chance/ He is an enemy for life, as well as an enemy of life.

5 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by sashx(m): 4:40pm On Jul 27, 2021

Chai. Na we go suffer am

2 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by flemsy15(m): 4:40pm On Jul 27, 2021

Bad market for Bureau d change guys... But I trust Nigerian hustling spirit, they go still find a way to thrive

2 Likes 1 Share

Re: CBN To Supply FOREX To Banks Only by KaluwisxPRO: 4:40pm On Jul 27, 2021

The banks are the worst perpetrators of this act. They will hoard it to make it scares to the common man.

42 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by shadeyinka(m): 4:40pm On Jul 27, 2021

Watch the price of everything go up.

To buy a car, you can't get forex from the CBN (it is not covered in their policies)
To purchase Electronics, Phones etc , you can't get forex from the CBN (it is not covered in their policies)
and
For small-time business people like us, first the CBN had reduced monthly spending limit to $100 (insignificant)
Until a citizen can walk into a bank and buy dollars even if it is a limited quantity to fund small business

I predict $1 will be sold at N780

36 Likes 5 Shares

Re: CBN To Supply FOREX To Banks Only by frankzone: 4:40pm On Jul 27, 2021

We'll see how many weeks it stays this way before another change.

17 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by Freelane33(m): 4:40pm On Jul 27, 2021

Naija

Re: CBN To Supply FOREX To Banks Only by MrStan11(m): 4:41pm On Jul 27, 2021

Dollar go reach 800 in coming weeks.

24 Likes 5 Shares

Re: CBN To Supply FOREX To Banks Only by Sholaco: 4:41pm On Jul 27, 2021

Dollar is now 500 to 1 naira

1 Like 2 Shares

Re: CBN To Supply FOREX To Banks Only by Bedtec: 4:41pm On Jul 27, 2021*

Oga make all man brace himself till 2023 cos indeed this administration is clueless

5 Likes 1 Share

Re: CBN To Supply FOREX To Banks Only by RuddyFusion(m): 4:41pm On Jul 27, 2021

Like seriously?
More drama coming , God who will help us?

1 Like 1 Share

Re: CBN To Supply FOREX To Banks Only by OmoManU: 4:41pm On Jul 27, 2021

More scarcity will lead to increased demand and ultimately increase in price and ultimately more economic woes, good intentioned but wrongest of time to implement such a policy

14 Likes 3 Shares

Re: CBN To Supply FOREX To Banks Only by EricSmallz(m): 4:41pm On Jul 27, 2021

Re: CBN To Supply FOREX To Banks Only by Felixalex(m): 4:41pm On Jul 27, 2021

Nonsense. The banks will still sell to BDCs for profit

18 Likes 4 Shares

Re: CBN To Supply FOREX To Banks Only by Spuggie: 4:41pm On Jul 27, 2021

Amazing stuff

1 Like

Re: CBN To Supply FOREX To Banks Only by Sholaco: 4:41pm On Jul 27, 2021

MrStan11:
Dollar go reach 800 in coming weeks.

then i will wait patiently before selling

5 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by AfroBeatDiary: 4:41pm On Jul 27, 2021*

Hmmm... Who else is seeing the end of of Emefiele at CBN?

Another aboki is eyeing his post right now

https://www.youtube.com/watch?v=yOuMB6zQSIo

3 Likes 1 Share

Re: CBN To Supply FOREX To Banks Only by Kaybee14(m): 4:41pm On Jul 27, 2021

Ok. Fingers crossed.

Re: CBN To Supply FOREX To Banks Only by arthurwillia(m): 4:42pm On Jul 27, 2021

What does this mean abeg?

Re: CBN To Supply FOREX To Banks Only by ibabz(m): 4:42pm On Jul 27, 2021

Dollar is about to hit N700 to a dollar

11 Likes 2 Shares

Re: CBN To Supply FOREX To Banks Only by Teewhy2: 4:42pm On Jul 27, 2021*

Banks are even worse, they will tell you no dollar but you will see one aboki sitting in the banking hall corner selling dollars.

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1 Like

Re: CBN To Supply FOREX To Banks Only by Harryzubbes77: 4:42pm On Jul 27, 2021

We are watching

1 Like 1 Share

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