SocialJustice:
The man knows what he's saying, you're the one who doesn't know anything. CBN needs to allow the Naira float and allow market forces decide the price. You're still talking about BDC selling dollars when they have stopped receiving dollars from CBN.

And how are northerners creating false scarcity to make money?

BosseJ:
Prof should be careful with this advice because if the naira is left to market forces as he's suggesting, it could go as high as N1000+ to a dollar within weeks. The consequent inflation would be mad. And knowing Nigerians, they won't hear grammar o. To the average person on the streets, dollar to naira exchange rate is meant to be as low as possible, they don't care how it's done. Else they will heap the blame on him and Buhari's heads.

Shooyie:


Give a logical reason please, don't just criticise like some illiterate.

BosseJ:
Prof should be careful with this advice because if the naira is left to market forces as he's suggesting, it could go as high as N1000+ to a dollar within weeks. The consequent inflation would be mad. And knowing Nigerians, they won't hear grammar o. To the average person on the streets, dollar to naira exchange rate is meant to be as low as possible, they don't care how it's done. Else they will heap the blame on him and Buhari's heads.

mema900:


You no know book!

SarkinYarki:


You people are just too short sighted in this country ..say BDC stopped receiving dollars is it still not available with Abokis on the street? Have u seen nay BDC that has closed down ..you people don't even understand what is happening in this country ...when I warned that withdrawing BDC license will only crash the value of Naira people like u argued with me here and 3 days later the Naira crashed to what it is now.... If CBN allows the official rate to float ( it's already floating sef because you can never see it to buy that rate ) be ready to pay more for it from Aboki

Danjikanbauchi:
OSIBANJO is the illiterate here, for him to advice an institution responsible for fixing currency exchange rate to abandoned their responsibility and follow marketers fixed price. You reason am na ?

SarkinYarki:
I am beginning to suspect the mental capacity of this man to fix Nigeria because it seems he doesn't understand the problem at all ....If you don't know if CBN fixes the rate at 600 naira tomorrow it will still find its way into the hands of Abokis who would na sell at 750 ...the scarcity of dollars is deliberately just like the scarcity of passport booklets , scarcity of electricity and Apapa hold up ..this is how northerners create false scarcity in other to make money ...They have even started it with train tickets

Hezzyluv:
Professor of economic as VP and they messed the economy up


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BosseJ:
Prof should be careful with this advice because if the naira is left to market forces as he's suggesting, it could go as high as N1000+ to a dollar within weeks. The consequent inflation would be mad. And knowing Nigerians, they won't hear grammar o. To the average person on the streets, dollar to naira exchange rate is meant to be as low as possible, they don't care how it's done. Else they will heap the blame on him and Buhari's heads.

DubaiLandLord2:
This man dey always talk like say he is not part of the FG.

989900:


God bless you.
I came here to write the above.
Thank you.

Instead of them to address the racketeering that they all benefit from to the detriment of the country, "Ọsinbande" is blowing textbook economics.

ATEOTD, the Naira's comatose situation is 30-40% directly tied to our importing refined petroleum products.

Where are the refineries "Ọsinbande" and the guyman from Daura promised Nigerians? Them existing refineries self died in their arms.

kingsways:
Osinbajo is the man

Babanah:

You are drawing a false analogy. If CBN decide to sell dollars at the market rate, say 600 how would the aboki make a profit? By selling at 700?
Once a currency finds it level, that would eliminate arbitrage. The presence of arbitrage opportunities in a market suggests that the price of the commodity is not at equilibrium.

seborrhic:

Is it as simple as that and is that supposed to be the thought process of an acclaimed intellectual?
On the one hand u av a dullard that believes forex should be hoarded and given only to cronies,on the other is another dullard that says CBN should just allow the Naira to float.
Even in the most advanced and capitalist of countries,they sometimes intervene in the currency market,just that in our case we have a horrible president,a seemingly mentally challenged CBN governor and a cabinet of glorified dullards.
He has always been a dullard,forget all that issue of him being a professor of law.

Hezzyluv:
Professor of economic as VP and they messed the economy up


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Olafisoyem:


Guy most currencies are free floating even the pound dollar and euro. I’m order to increase or decrease the value of their currencies, they either pump money into the economy or reduce the amount of money in the economy they also look at inflation.

What he is saying is so correct. You forget that most of nigerias money is imported.
Yes if exchange controls are relaxed investors can bring in their foreign currency to take advantage of the high interest rate in Nigeria.

Imagine if naira is 1000 for one dollar all the dollars we are collecting will be equal to more naira.
More foreign companies will invest dollars in Nigeria because they will convert it to more naira. Outsiders are not fools imagine you got to the market and you want to buy something. They call it 500 but you know In your mind it is only worth 300 will you buy or will you go somewhere else.

No security no light no nothing no ease of doing business and you’re selling your currently like it is high.

DubaiLandLord2:
This man dey always talk like say he is not part of the FG.

Babanah:

You are drawing a false analogy. If CBN decide to sell dollars at the market rate, say 600 how would the aboki make a profit? By selling at 700?
Once a currency finds it level, that would eliminate arbitrage. The presence of arbitrage opportunities in a market suggests that the price of the commodity is not at equilibrium.