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Nairaland Forum / Nairaland / General / Politics / Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa (58484 Views)
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Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by CodeTemplar: 3:02pm On Nov 16, 2022 |
Jokers everywhere |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Franklerry: 3:02pm On Nov 16, 2022 |
It is not by economics, it is by common sense which is not common. A PhD holder onCe rules us |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Eriokanmi: 3:03pm On Nov 16, 2022 |
After reading some people's comments , I just dey laff. They don't seem to know the fact that the CBN knew what it was doing all along. They deliberately mopped up forex from banks , stopped disbursement of fx to bdcs expecially usd, reduced the SMEs wholesale and SMEs retail disbursement windows. Now, they'd reverse their policies and dollars would lose value against naira considerably. He who has ears,.let him hear. EFCC is also working in conjunction with the CBN so, the guy could be right but I doubt the 200 naira he quoted and i guess he knew it, which was why he said may. 465 or 500 is likely cos we were at that level early this year before the artificial scarcity was introduced by the cbn.. 1 Like |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by sonature1: 3:03pm On Nov 16, 2022 |
zombieHUNTER: Dollars crashed against the naira because the CBN pulled some money from Nigeria's foreign reserves and injected it into the economy. That gain is not sustainable and it has nothing to do with the naira redesign. https://www.legit.ng/business-economy/money/1503521-nigerias-foreign-reserves-falls-lowest-level-14month-cbn-continues-withdrawals-defend-naira/ |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Yankee101: 3:04pm On Nov 16, 2022 |
No be lie? |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by fxexperts: 3:06pm On Nov 16, 2022 |
Ddworld:Bro. dont mind them. they are just fools. all these uneducated Urchins just wanting to give themselves hope. BleedTears:Then judge what the idiot just said. he is a fool with no sense at all. Jokers everywhere. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Albertgr8: 3:07pm On Nov 16, 2022 |
Impossible mission |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by BluntCrazeMan: 3:07pm On Nov 16, 2022 |
ibrahimabba7:Fergie001.. Please is there a way I can get hold of this CBN law? Is there any link to download it? I'm happy that redesigning has a stipulated timeline.. Eight-Years to Ten-Years-Maximum is very good. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Eberex(m): 3:11pm On Nov 16, 2022 |
hapsattaddawus:. No mind them |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Munzy14(m): 3:17pm On Nov 16, 2022 |
abdulwasiubar:No be same Nigeria where a lawyer is heading fed ministry of works and housing? A position for an Engineer/ builder with outstanding experience. If Bawa is talking about Money economics instead of The CBN crook, it is normal. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by miraclea: 3:20pm On Nov 16, 2022 |
See the people you're appointing as leaders so this is how Naira appreciate by just changing the colour, we truly need deliverance 1 Like |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Nobody: 3:26pm On Nov 16, 2022 |
obedience4: Fake news oga |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Nobody: 3:27pm On Nov 16, 2022 |
hapsattaddawus: That news was fake oga |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by berbs: 3:27pm On Nov 16, 2022 |
Lie of the century. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Nobody: 3:29pm On Nov 16, 2022 |
Ddworld: Do you think dollar will still rise? If yes, why pls? |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by PoliteActivist: 3:29pm On Nov 16, 2022 |
Eriokanmi: You spoke too soon Dollar has gone back to above 800 again |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Fiscus105(m): 3:29pm On Nov 16, 2022 |
Alexbio: Go and learn what they called, currency revaluation. If govt wants, 1 dollar will be equal to 1naira. Though, if the country not producing economy and if they have perchant for consuming foreign goods and services, it will depreciate. Ghana did it few years back, Soludo almost did it, but Yaradua stopped him. "A revaluation is a calculated upward adjustment to a country's official exchange rate relative to a chosen baseline, such as wage rates, the price of gold, or a foreign currency. In a fixed exchange rate regime, only a country's government, such as its central bank, can change the official value of the currency." https://www.google.com/search?q=currency+revaluation&oq=&aqs=chrome.0.69i59i450l15.-1j0j7&client=ms-android-transsion&sourceid=chrome-mobile&ie=UTF-8#:~:text=A%20revaluation%20is,of%20the%20currency. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by PoliteActivist: 3:30pm On Nov 16, 2022 |
LagosInter: It has already. Back above 800 1 Like |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by blueAgent(m): 3:32pm On Nov 16, 2022 |
SmartyPants: Which good job? |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Akunatakasi(m): 3:34pm On Nov 16, 2022 |
Which kind yeye man them carry put as efcc chairman... Chaaaaaaaaiiiiiiii |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by ExudeLoveToAll: 3:34pm On Nov 16, 2022 |
Kobonaire234: Four 1 Like |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Eriokanmi: 3:34pm On Nov 16, 2022 |
PoliteActivist:I know. It's temporary. The CBN is yet to intervene. Remember the governor said they'd intervene on fx soon? |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Nobody: 3:35pm On Nov 16, 2022 |
PoliteActivist: Above 800 at aboki rate or online? |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Tyrene: 3:38pm On Nov 16, 2022 |
EFCC-nomics! The same approach that was used in 2015/2016 in the name of fighting corruption. Blocked all sources of FX inflow that resulted in the collapse of small and medium sized businesses. Till date, the economy is yet to recover from that failed decision. A humble call to experts within Nigeria and in diaspora will save this economy. Many are willing to do this for very little or no renumeration. God bless Nigeria. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Nobody: 3:38pm On Nov 16, 2022 |
LagosInter: It is not a rocket science. Go to your bank and request for the long list of importers that have applied for USD for their imports. The list is endless. Forget the toothless CBN. These list are people and companies that are eligible for forex by the same CBN. Talkless of millions whom are not eligible but needs the USD for their production. The to people with the little USD in circulation are being frustrated. Very soon companies will start folding up and USD will become a luxury. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by bigtt76(f): 3:39pm On Nov 16, 2022 |
Well ...that's anoda angle and ome of the hoarded Naira might be coming from same route too BennyDGreat: |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Judgesledge(m): 3:45pm On Nov 16, 2022 |
hapsattaddawus:inasmuch as I agree with your assertion that appreciation of naira against other currencies has nothing to do with it's redesigning, the reason you provided about US policy with regards to stockpiling of dollars in Nigeria and SA is equally not true, said policy statement is actually FAKE NEWS |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Jackipapa: 3:46pm On Nov 16, 2022 |
Freethinker87: We are in Soup, hear what the other one is saying! Kindly vote wisely, please! Dollar crash due to redesign, Ah bah! He is a Dullard! 1 Like |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by Advancedman(m): 3:48pm On Nov 16, 2022 |
ibrahimabba7: He definitely deserve and earned a jail term. Infact he ha just proven his incompetence to be head i.e the peter principle. How there him discuss economic matter with such high level of stupidity of the highest order of insensitivity to the realities on the nation, to me this is incitement and he should be suspended forthwith. |
Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by fergie001: 3:52pm On Nov 16, 2022 |
BluntCrazeMan:Global best practices say 5-8 years but the CBN Act doesn't talk about the years within which it can be done. However, this is a welcome development. https://www.cbn.gov.ng/OUT/CIRCULARS/CSD/2007/CBN%20ACT%202007.PDF
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Re: Naira Redesign: Dollar May Crash To N200 – Abdulrasheed Bawa by 43Ronin: 3:53pm On Nov 16, 2022 |
Lol. Quota system product has spoken... |
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