DeLaRue:
.

The government can only focus on the I & E market.

DeLaRue:
Government doesn't control black market price. It is up to the buyer and seller to deal at whatever price suits them.

The government only has direct influence on the I & E window which is around N780. Big companies and many others who have legitimate reasons can buy dollars from banks.

Many of those desperately buying at any price on the black market are using hundreds of billions stolen under Mr Buhari's government. They can't come out openly to buy through official channels.

If they like, they should push the black market rate to N1500, it is up to them.

The government can only focus on the I & E market.

MadamExcellency:
I thought the liberalization of the Forex market eliminated the official and black market dichotomy.

Why then was Naira devalued from the official N460?

udemzyudex:
Upon the $3b e still go #905, omo na wa ooo.

ogene70:

I doubt you are into International business or manufacturing to have said this .

Do you know the amount of Fx request on the official queue of many commercial banks that CBN hasn’t been able to fulfill?
Manufacturers and importers wait weeks and months to get Fx via the official window and this is killing businesses, to avoid such delays, they resort to the black market and I don’t blame them for doing so because whether they are able to source their raw materials or not , fixed costs such as salaries, rent , interest rates, etc ,must be paid , so it’s still their losses to wait perpetually for CBN.

Taylor90:
Shebi una say this man na first class accounting graduate from Chicago


So why is he running this government like who studied zoology

ideynl1:
Anyone Yoruba support politically is doomed, it will crash and fail.

Just check how Buhari they supported plunged the country into disaster. They also supported Tinubu, who is currently plunging the country to disaster pro max.

Yorubas don’t make good political choices in the centre.

After voting disasters they end up becoming bambialla queuing up to be fed with Agbado, Cassava and Ewa.

CORNfused set.

Quite unfortunate.

Nordy:
As if it was strong before, when the $3bn NNPCL borrowed finishes it will continue the weakening effect. It must test the hight of 1000/$.

MadamExcellency:
I thought the liberalization of the Forex market eliminated the official and black market dichotomy.

Why then was Naira devalued from the official N460?

DeLaRue:
Government doesn't control black market price. It is up to the buyer and seller to deal at whatever price suits them.

The government only has direct influence on the I & E window which is around N780. Big companies and many others who have legitimate reasons can buy dollars from banks.

Many of those desperately buying at any price on the black market are using hundreds of billions stolen under Mr Buhari's government. They can't come out openly to buy through official channels.

If they like, they should push the black market rate to N1500, it is up to them.

The government can only focus on the I & E market.

crossfm:
Hehehe.

This is really getting out of hand.

After all the measures the CBN promised to put in place,and this is still happening.

The trial and error is not working at all.

safarilove:
Na God hand we dey..still hopeful He can turn things around for my dear country.

Racoon:

https://www.thecable.ng/naira-weakens-to-n773-4-at-ie-window-n905-at-parallel-market/amp nlfpmod

Abufo:



the 3billion dollars NNPC borrowed from Afreximbank in cairo "have finis"! All our sales from crude oil from now till 2030 has been used as collateral for the monies that the fulani man Buhari borrowed.......the latest 3billon borrowed by Tinubu was backed by sales from your LNG gas sales for the next 4 years..................the only source of forex now is from remittances from hardworking Igbo ppl,edo ppl and yorubas in the diaspora...........I wonder how fulanis will corner that source of forex oil money hav finish o!

OmoNla99:


E don finish now. That’s why you see the rate getting higher each passing day. The $3bn was a loan which must be repaid. In less than a week the money no get effect. By the time Tinubu leaves office, poverty rate in Naija will double.

ideynl1:
Anyone Yoruba support politically is doomed, it will crash and fail.

Just check how Buhari they supported plunged the country into disaster. They also supported Tinubu, who is currently plunging the country to disaster pro max.

Yorubas don’t make good political choices in the centre.

After voting disasters they end up becoming bambialla queuing up to be fed with Agbado, Cassava and Ewa.

CORNfused set.

Quite unfortunate.

DeLaRue:
Government doesn't control black market price. It is up to the buyer and seller to deal at whatever price suits them.

The government only has direct influence on the I & E window which is around N780. Big companies and many others who have legitimate reasons can buy dollars from banks.

Many of those desperately buying at any price on the black market are using hundreds of billions stolen under Mr Buhari's government. They can't come out openly to buy through official channels.

If they like, they should push the black market rate to N1500, it is up to them.

The government can only focus on the I & E market.

masseratti:
that I and Ẹ window is an opportunity for some people to do round tripping. They should abolish it and trade strictly one the black market rate.. I assure you.. Dollar will crash once that is done.

XAUBulls:

It is the so-called black marketers (who are illegal worldwide by the way) that should be forcibly banned and ruthlessly jailed after court trials for illegal speculations in FX.
No where in the respectable countries are illegal speculators in
FX allowed to gain footholds!


The BDCs have also now been restored by the CBN after Godwin Emefiele stopped their FX markets participation, and they will have to do proper accounting of their daily, weekly and monthly business activities to the CBN as a major condition.

XAUBulls:

It is the so-called black marketers (who are illegal worldwide by the way) that should be forcibly banned and ruthlessly jailed after court trials for illegal speculations in FX.
No where in the respectable countries are illegal speculators in
FX allowed to gain footholds!


The BDCs have also now been restored by the CBN after Godwin Emefiele stopped their FX markets participation, and they will have to do proper accounting of their daily, weekly and monthly business activities to the CBN as a major condition.

masseratti:
the problem is if you go against black market it will have a political problem, most of the black marketers are northerners any government that seek to prosecute them will have issues, best way to run them out of business is to buy and sell at their price.. Same way petrol black marketers have gone out of business, they will also go out of business, if the I & Ẹ window is maintained and the naira is not truly floats with markets forces determining the price, it will be open to round tripping as speculations hence it's fall also.

easzypeaszy:
He dey favor bc I supported Tinubu and dey pay my salary in dollars.. So do d maths Nigga