fawaz050:


I really don't understand why you are asking this

You said EDT is 3%. What is EDT?

oluwaseyi0:
how is this Mr Tinubu getting away with all this, so many president can't attempt this

He is a politician … have we ever had a politician as president before?


He is a godfather … have we ever had a godfather as president before?

He is a technocrat … have we ever had a technocrat as president before?

He is a seasoned “wheeler-dealer” … have we ever had a wheeler dealer as president before?

He is a former lawmaker… have we ever had a former lawmaker as president?

He is a former governor and opposition leader… have we ever had a former governor and opposition leader as president before?

He has ties to the underworld (drug smuggling) … we don get am before?

A man with all this has the requisite influence to push through even the toughest of legislations.

Femmyfamous4u:


He is the first president with finance background. His vice also has about 25 years banking career. He does not have a godfather so, he fears no one.

So? How does that translate to.success as a public servant?

Emefiele also had banking career and finance background.

Bawa and Magu were policemen so also was Abba Kyari. How did that turn out?

Did buhari have a godfather?

Buhari is a military man. What was the state of security under his regime?

This is what Tinubu told nigerians about buhari.

27Pushing30:


He is a politician … have we ever had a politician as president before?


He is a godfather … have we ever had a godfather as president before?

He is a technocrat … have we ever had a technocrat as president before?

He is a seasoned “wheeler-dealer” … have we ever had a wheeler dealer as president before?

He is a former lawmaker… have we ever had a former lawmaker as president?

He is a former governor and opposition leader… have we ever had a former governor and opposition leader as president before?

He has ties to the underworld (drug smuggling) … we don get am before?

A man with all this has the requisite influence to push through even the toughest of legislations.

Am glad that in all you typed, you didn't say that Tinubu is patriotic which is the one singular most important quality that any nigerian should have especially those who hold public office.

How are all the above you mentioned the qualities a public servant needs to discharge his or her constitutional duties?

vastolord4:
Please who can interpret in plain english

if you get help send the info


Grammar no be my language

This is the end of the naira...The total destruction of the Nigerian economy...Foreign capital can now prey on the Nigerian economy recklessly.
I pity Nigerians that don't understand what is going on...but i know very well they will understand the SUFFERING when it starts.

oluwaseyi0:
how is this Mr Tinubu getting away with all this, so many president can't attempt this

It's like you don't know the meaning of the word JAGABAN.
That's why he's called the jagaban

lorbah001:
Seriously I am getting frightened by this pace...ah, BAT is outrunning even the supposed healthy clowns.

A better Nigeria is here and anyone wishing against her wellness will never succeed.

This shows he had plans put in place even before becoming President. I never believed in him, I thought he is too old to deliver. Never knew had kept a good plan all along. Kudos BAT. We desperately await more of these policies

Metrofox:
una wan comot food from aboki mouth

how?

They are being smart to play off the gallery for the Nigerian populate of the common term of devaluation. The immediate effect of inflation is loomy. Though, the long run effect would support local businesses. We are on the right track for the long term. The dude is tending toward the USA capitalist economy. He's trying to operate like the USA economy, but deem, this is Africa, we aren't sufficient for this yet.

References1:
OPERATIONAL CHANGES TO THE FOREIGN EXCHANGE MARKET

The Central Bank of Nigeria (CBN) wishes to inform all authorized dealers and the general public of the following immediate changes to operations in the Nigerian Foreign Exchange (FX) Market:

• Abolishment of segmentation_ All segments are now collapsed into the Investors and Exporters (I&E) window Applications for medicals. school fees. BTA/PTA, and SMEs would continue to be processed through deposit money banks

• Re-introduction of the "Willing Buyer, Willing Seller model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017 and referenced FMD/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window

• The operational rate for all government-related transactions shall be the weighted average rate of the preceding day's executed transactions at the I&E window, calculated to two (2) decimal places

• Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures. Limits on overbought positions shall be zero.


• Re-introduction of order-based two-way quotes, with bid-ask spread of Ni. All transactions shall be cleared by a Central Counter Party (CCP). • Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades.

• The operational hours of trades shall be from 9am to 4pm, Nigeria time

• Cessation of RT200 Rebate Scheme and the Naira4Dollar Remittance Scheme, with effect from 30 June 2023.

Further guidance on these matters shall be communicated in due course All market participants and the general public are kindly enjoined to abide by these rules.

Ange a re-Ejernbi, PhD Director, Financial Markets
14 June 2023

Ogene001:
Tinubu has destroyed abookis after deceiving them with Muslim/Muslim ticket and dancing in Kano. Peter Obi used to say these things but Tinubu was fooling around to deceive northerners when he had similar plans.

Not really . As long as there is a need for dollars and there is open market , abokis will still make money but with the tight margins as before that madman Buhari . One naira to 5 naira difference . Not the 300 naira to 400 naira margins .

lorbah001:
Seriously I am getting frightened by this pace...ah, BAT is outrunning even the supposed healthy clowns.

A better Nigeria is here and anyone wishing against her wellness will never succeed.

What pace exactly are you referring to?

Ogene001:
Tinubu has destroyed abookis after deceiving them with Muslim/Muslim ticket and dancing in Kano. Peter Obi used to say these things but Tinubu was fooling around to deceive northerners when he had similar plans.

pls, stop this craps, if the abokis have been destroying the fabric of Nigeria development through glaring nepotism, do you still expect Oga tinubu to continue in that way, just to please the abokis ?
am glad that Oga tinubu is making the right decisions so far .
but we are still expecting him to take
decisive actions against insecurities and stop these senseless killings in Nigeria, and he had succeeded in winning my support.

oluwaseyi0:
how is this Mr Tinubu getting away with all this, so many president can't attempt this

What has he gotten away with?

accordadoga27:
Welcome to the new Nigeria - The giant of Africa.


We thank everyone who voted in BAT.

As for the ones who fell for the propaganda, una eyes don clear now just in two weeks.

They told us we would see shege under Ashiwaju’s administration (the best governor in the history of Nigeria) but the land would be filled with honey under one man who failed woefully as a governor in small Anambra and some people believed.


Tinubu is sick, he is push and start, how many times has he collapsed since he assumed office?

We thank everyone who believed in Ashiwaju. Together we shall sing a new song.

As for the ones who don’t want Ashiwaju to succeed or progress, ode to n so eledumare, ori e lo ma ku si

Ashiwaju is not their father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s mate.

The man you denigrate is the reason for the present progressive steps government. He has forced politicians to discuss issues. It doesn't matter who is at the helm of affairs as long as the right thing is being done. Obi could have removed subsidy from day 1. He could have nullified the current multi tiered foreign exchange system. So many more to come and many thanks to Obi for bringing positive changes and making our lazy politicians to to up and doing.

Ogene001:
Tinubu has destroyed abookis after deceiving them with Muslim/Muslim ticket and dancing in Kano. Peter Obi used to say these things but Tinubu was fooling around to deceive northerners when he had similar plans.

You don't even understand what is written there in the first place. Bigotry has finished this one

Baba isn't done yet! Rates are crashing soon; negative interest rates regime coming. Brace up.

No time!

lexy2014:


Am glad that in all you typed, you didn't say that Tinubu is patriotic which is the one singular most important quality that any nigerian should have.

How are all the above you mentioned the qualities a public servant needs to discharge his or her constitutional duties?

You were a child with poor home training and poor education which has made you today… an ignorant human being.

Abeg I can’t engage ignorant people… your anthem says “arise oh COMPATRIOTS” that means EVERYONE is a PATRIOT.

A person who risked life to fight military dictatorship is not a patriot lmaooo? But Obi who was appointed as chairman of tin can island port by the military dictatorship is what?

Ignorant people dey sha

While I No get time to explain everything…I will try. There is an Importer-Exporter window….those exporting will get dollars and can sell to those that want to import say raw materials. Limits to zero means no limit and cessation of rebate means elimination which was set up under Emefiele to provide subsidy for people to remit dollars because no one wanted to do that at CBN rate. With both rates uniform, everyone can smile…medical and school fees must be processed as usual….I guess cos they are considered emergencies.

Rate will be based on previous day typical of stocks so if $1 ends N680, it will start the next day at that rate …weighted average means if you have $1 = N680, N682 and N687…..It will begin next day at (680 + 682 + 687) / 3 = N683. This is meant to uniform the rate daily across the board

References1:
OPERATIONAL CHANGES TO THE FOREIGN EXCHANGE MARKET

The Central Bank of Nigeria (CBN) wishes to inform all authorized dealers and the general public of the following immediate changes to operations in the Nigerian Foreign Exchange (FX) Market:

• Abolishment of segmentation_ All segments are now collapsed into the Investors and Exporters (I&E) window Applications for medicals. school fees. BTA/PTA, and SMEs would continue to be processed through deposit money banks

• Re-introduction of the "Willing Buyer, Willing Seller model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017 and referenced FMD/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window

• The operational rate for all government-related transactions shall be the weighted average rate of the preceding day's executed transactions at the I&E window, calculated to two (2) decimal places

• Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures. Limits on overbought positions shall be zero.


• Re-introduction of order-based two-way quotes, with bid-ask spread of Ni. All transactions shall be cleared by a Central Counter Party (CCP). • Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades.

• The operational hours of trades shall be from 9am to 4pm, Nigeria time

• Cessation of RT200 Rebate Scheme and the Naira4Dollar Remittance Scheme, with effect from 30 June 2023.

Further guidance on these matters shall be communicated in due course All market participants and the general public are kindly enjoined to abide by these rules.

Ange a re-Ejernbi, PhD Director, Financial Markets
14 June 2023

27Pushing30:


You were a child with poor home training and poor education which has made you today… an ignorant human being.

Abeg I can’t engage ignorant people… your anthem says “arise oh COMPATRIOTS” that means EVERYONE is a PATRIOT.

A person who risked life to fight military dictatorship is not a patriot lmaooo? But Obi who was appointed as chairman of tin can island port by the military dictatorship is what?

Ignorant people dey sha

😂😂😂 See who is calling somebody ignorant. Pls see the meaning of compatriot below. 😂😂😂 U try.

Even if what u say is true, how can everyone be a patriot? Or don't you know the meaning of the word patriot 😂😂😂😂

You have already engaged me. So why are u lamenting that u can't engage me?

Meanwhile, your emotional outburst hasn't negated the following neither has it answered the accompanying question.

Am glad that in all you typed, you didn't say that Tinubu is patriotic which is the one singular most important quality that any nigerian should have.

How are all the above you mentioned the qualities a public servant needs to discharge his or her constitutional duties?

jhydebaba:
Anything to make the naira strong is welcomed.

This will actually do the opposite, frankly. Other factors determine the Naira price.

Naira 4 dollar never stop na. Till June 30th, 2023.

Favourchris:
hope they can handle the demand, putting naira on a free market with our not so working economy, will end in disaster.

all i see this man doing is making policies b4 planning for the out come....


like this, na 3k we go see ... if bank cant supply everyone

Jagabanists no go Understand... If he bleeps their wives right now, they'll still praise him as the best leader ever. Anything to try to legitimise his stolen mandate.

Femmyfamous4u:


It means government will no longer fox the exchange rate. The rate will be determined by the normal import/export window. If we have more dollars than people demand of it, the rate will fall and vice versa. With this, it just made the news that our stocks just gained almost a trillion Naira yesterday because investors were happy. There will be more foreign direct investment into the country and the rate will fall well well against the Naira.

I read this and I laughed

Nigerians have forgotten IBB , and SAP of 1986

This was the exact lie IMF told us that led to the irredeemable fall of the Naira. And at that time, Nigeria was a paradise compared to the shi.t hole it is now

Gentlemen... The Naira is dead and buried by this move. We currently do not have the economical sagacity for this right now. No roads, no electricity, poor transportation network, no factories, harsh economic policies for businesses to thrive, and the topping of the cake: INSECURITY!! Even the oil sef, we no dey produce as we ought to, and there is no market sef.

See, Nigeria is broke. Buhari wrecked the country beyond repairs. That is why APC did everything to ensure they remained in power.. In the coming days, una eyes go clear.

Kubernetes:


Meaning exchange rate in this window will be determined by market players.

The CBN wants market forces to determine the exchange rate which will bring greater liquidity and stability

Please, so does this means we no longer have an official rate but only a black market exchange rate?

VeeVeeMyLuv:

This has always been my fears. It is the same insane levels of corruption that bent over the country to the ground.

it is alarming.

The naive guy in real leadership, is rapidly becoming Stealibu.

His corruption establishment or foundation is really solid. I wish he could put that energy for the good of Nigeria.

No b lie too many big girama

tragergeorge:
Me no understand anything there bob

Theres renewed hope for this country

The dunce Obidients can't understand this.
It's too much for them to comprehend...

And once they can't understand anything, they quickly call it 'initial gra gra'....

Useless people... They never appreciate anything good in their lives.

I thank God for Tinubu. May God continue to guide him. May evil befall anyone wishing evil on the president

Oga Oya interpret am

Segzy19:
The dunce Obidients can't understand this.
It's too much for them to comprehend...

And once they can't understand anything, they quickly call it 'initial gra gra'....

Useless people... They never appreciate anything good in their lives.

I thank God for Tinubu. May God continue to guide him. May evil befall anyone wishing evil on the president

.let me take you back memory lane this was the same step IBB did with the introduction of SAP. I am sure you were not born then and the pressure led to the death of local manufacturing and the free fall of the naira. Tinubu is being too hasty with his policies simply for the fear of the Obi paradox, he is desperately trying to win public sympathy, but this would backfire quickly. Without putting structures in place, the implication would mean outside forces will put pressure on the naira making the naira to lose value rapidly. Tinubu should leave this media circus and focus more on putting structures in place.