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Nairaland Forum / Nairaland / General / Business / CBN Devalues Naira To 630/$1 (45868 Views)
Nigeria Devalues Naira In Bid To Attract Foreign Investors - Financial Times / CBN Further Devalues Naira, Now N411 To Dollar / Report Suggests CBN Devalues Naira By 15% (2) (3) (4)
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Re: CBN Devalues Naira To 630/$1 by brutal1(m): 9:35am On Jun 01, 2023 |
You nor even suppose enter this administration, you suppose don perish for Buhari tenure but it is not too late, if you continue like this your perishness is inevitable . dedonfranco: 2 Likes |
Re: CBN Devalues Naira To 630/$1 by mariahAngel(f): 9:36am On Jun 01, 2023 |
Mynd44: ππ |
Re: CBN Devalues Naira To 630/$1 by Honlucas: 9:37am On Jun 01, 2023 |
Mystiquefia: Wrong just bought dollar now 718 |
Re: CBN Devalues Naira To 630/$1 by ShaqFu: 9:38am On Jun 01, 2023 |
Octopusssy:first fuel price increase, now it is devaluation of the Naira. Na WA oh. This month started on a very wicked note. |
Re: CBN Devalues Naira To 630/$1 by EvangDrGeo: 9:38am On Jun 01, 2023 |
Mynd44: You didn't know this when Johnathan removed the subsidy? Wow! 1 Like |
Re: CBN Devalues Naira To 630/$1 by sonnie10: 9:38am On Jun 01, 2023 |
twosquare: Some private businesses have more national security implications than federal agencies. For a country like Nigerian that is almost dependent on crude oil, any private player in the sector that controls the whole domestic market should be regulated differently. If we allow them do whatever they want in the name of private business, their bad decisions or greed might hurt all Remember the last US recession? It was caused by the big banks ( private businesses) due to lack of proper oversight. |
Re: CBN Devalues Naira To 630/$1 by m140(m): 9:39am On Jun 01, 2023 |
nairalanda1:Diversify like say na within 24hrs e go work... Dey play ... All these things takes time |
Re: CBN Devalues Naira To 630/$1 by Mystiquefia: 9:39am On Jun 01, 2023 |
motionarena: you are a goat... someone raised important points that calls for concern and instead of you to give intelligent answers to his questions if u had any grey matter in your crevice you are yapping trash. Because you're a batist doesn't mean you should be stupid all the time. Ekpa! 3 Likes |
Re: CBN Devalues Naira To 630/$1 by emerged01(m): 9:41am On Jun 01, 2023 |
Mystiquefia:Very possible. I think 630/$ is for first phase in unifying the exchange rate. |
Re: CBN Devalues Naira To 630/$1 by MT: 9:42am On Jun 01, 2023 |
nairalanda1: You have turned economy and governance on its head. If he diversifies the economy, will you see the gain tomm. In the short term, he is freeing up lot of resources in USD and discouraging importation in order to have lot of money to immediately defend the naira and build up infrastructure. If some of you are made the President, you will turn Nigeria to Somalia within 48 hours with your comical policies. 3 Likes |
Re: CBN Devalues Naira To 630/$1 by RealBae: 9:42am On Jun 01, 2023 |
Hypocrites everywhere Yimu π«‘ |
Re: CBN Devalues Naira To 630/$1 by garfield1: 9:46am On Jun 01, 2023 |
PoliteActivist: Oga,we have been doing it gradually since gej time 1 Like |
Re: CBN Devalues Naira To 630/$1 by grandstar(m): 9:46am On Jun 01, 2023 |
domDva: PMB's knowledge of economics was not only non-existent but worse, imposed it on the economy. The fuel subsidy could have since been long gone in January 2016 but PMB failed to grab it with both hands. It wasn't much about fear but he did not fully realize the damage it was doing to the economy and stook to his ignorant gun. His government was a disaster! 1 Like |
Re: CBN Devalues Naira To 630/$1 by tunene66: 9:46am On Jun 01, 2023 |
domDva: CBN says it is FAKE NEWS 1 Like
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Re: CBN Devalues Naira To 630/$1 by Teenaira: 9:47am On Jun 01, 2023 |
PoliteActivist: Which PO are you people always referencing. Talk is very cheap. If it is so easy, why is it that the same PO failed flatly as a governor in Anambra. We know those trying to cover up his lapses in the state but we know the truth. It will be in the interest of you all to support the current administration as it navigates very tough terrains. I could see as an economists he has being taking the right steps. He doesn't know it all so we will try to offer meaningful and practical advise where necessary and I hope you will join and support the winning team so that we can celebrate together the successes . 3 Likes 1 Share |
Re: CBN Devalues Naira To 630/$1 by blackmantis: 9:48am On Jun 01, 2023 |
Lannister360: I'm not responsible for your pains Sir |
Re: CBN Devalues Naira To 630/$1 by nurex01(m): 9:48am On Jun 01, 2023 |
Mynd44:if and only if the government uses the freed up funds on infrastructure and people oriented policies. |
Re: CBN Devalues Naira To 630/$1 by YoungBuffet: 9:53am On Jun 01, 2023 |
nairavsdollars: They will remove him wt time. |
Re: CBN Devalues Naira To 630/$1 by Ola5530(m): 9:54am On Jun 01, 2023 |
Jagaban... A man of mission and action !!! |
Re: CBN Devalues Naira To 630/$1 by PoliteActivist: 9:55am On Jun 01, 2023 |
Teenaira: If he failed in Anambra why are they all behind him and not behind their "successful" governors who hate him?? Anyway that's by the way, there are things you don't do rashly - like overnight make 1$ = 630 naira. How about budget that was set at 430? How about people who sell $ to govt - they'll overnight be getting 630 instead of 430!
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Re: CBN Devalues Naira To 630/$1 by sonnie10: 9:56am On Jun 01, 2023 |
emerged01:This is like a man chasing his shadow. He will never catch it except when the sun is overhead. The only export Nigeria has is crude oil and the money from it is not enough to balance trade. Therefore, import is still more than export and the demand for dollars will continue to exceed supply. This is called scarcity and it drives price of the particular scare item, in this case the dollar. |
Re: CBN Devalues Naira To 630/$1 by PoliteActivist: 9:57am On Jun 01, 2023 |
garfield1: We haven't been doing anything |
Re: CBN Devalues Naira To 630/$1 by Originalsly: 9:58am On Jun 01, 2023 |
Mynd44: Who will push back? Tinubu is a thug ... the canbals are all bullies ... bullies avoid confrontation with other bullies ... especially other bullies with clout and connections. There will be no pushing back. |
Re: CBN Devalues Naira To 630/$1 by Stevosty: 9:58am On Jun 01, 2023 |
If you voted for this government pls enjoy and stop bringing Peter Obi into the picture, Peter Obi won't be this heartless. |
Re: CBN Devalues Naira To 630/$1 by Epistasis(m): 9:59am On Jun 01, 2023 |
Fake News! Nairaland, please make proper findings before posting anything on your homepage! 1 Like |
Re: CBN Devalues Naira To 630/$1 by Lannister360: 9:59am On Jun 01, 2023 |
blackmantis: Your stupidity in supporting Tinubu is responsible for the pains Nigerians are feeling right now. You are a curse to the black race, your stupidity is affecting others. |
Re: CBN Devalues Naira To 630/$1 by ejieddy: 10:00am On Jun 01, 2023 |
While this is great, I will still not believe PBT until I see deliberate moves to cut down the cost of governance. |
Re: CBN Devalues Naira To 630/$1 by Saintinoo(m): 10:00am On Jun 01, 2023 |
All I see is comments from people who have little or no knowledge of macroeconomics, exchange rate is the last thing you rush to temper with. When a country devalues it currency against other currency, it means just one thing, that country is operating a mono economy, which is very bad. Why the rush to devalue the naira, who will it benefit, Dangote, Otedola, Elumelu? Tinubu should prioritize diversification, import substitution policies to strengthen the manufacturing sector and allow our exchange rate yo float. That was how Buhari poor policies were hailed until we became beggers online. |
Re: CBN Devalues Naira To 630/$1 by PoliteActivist: 10:01am On Jun 01, 2023 |
Honlucas: Where? I'd like to buy some I know a guy buying at 750 in Lagos. I'd resale to him |
Re: CBN Devalues Naira To 630/$1 by YoungBuffet: 10:01am On Jun 01, 2023 |
ejieddy: Lolllll u want to force dead horse to drink water in that area oo 1 Like |
Re: CBN Devalues Naira To 630/$1 by JuanDeDios: 10:01am On Jun 01, 2023 |
domDva:Half measures. Eliminate the damn dual window. |
Re: CBN Devalues Naira To 630/$1 by MAYOWAAK: 10:02am On Jun 01, 2023 |
Epistasis: CBN has made a denial. They accused Daily Trust Newspaper, the purveyor of the fake news of creating panic. |
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