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Nairaland Forum / Nairaland / General / Business / CBN Stops Banks From Utilising Naira Devaluation Gains (13732 Views)
CBN Stops Use Of Foreign Currencies As Collateral For Naira Loan / Naira Falls After CBN Stops Forex Sales To BDCs / CBN Stops Sale Of FOREX To BDCs (2) (3) (4)
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by backtalkG(m): 10:33am On Sep 12, 2023 |
Hope this will have a positive impact on nairaland |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Jackson619007: 10:34am On Sep 12, 2023 |
Doro55:what you don't know just ask and don't just jump into conclusions, it's mostly done to take that position to avoid commenting late, after that we'll now go and read the news then come back and modify our opinions, but if you don't before you read finish, comments will flood those positions, which you first approached 1 Like |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Themanleshey: 10:34am On Sep 12, 2023 |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by soojar(m): 10:40am On Sep 12, 2023 |
ALCOHOLKILLS: Talk true, You nor understand wetin dem write there We learn every day |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Yankee101: 10:42am On Sep 12, 2023 |
Money wey dem don chop finish |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ALCOHOLKILLS(m): 10:42am On Sep 12, 2023 |
soojar: says who, if you don't I do |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Mrpojj(m): 10:54am On Sep 12, 2023 |
dre11:They have always been the one gaining from of the difference in forex and exchange rate |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ppogba: 10:59am On Sep 12, 2023 |
Good policy from the CBN but the fact remains that the banks are not even thinking of utilising the FX gains to pay dividends. Most of the banks that have so far declared HY dividends have the intention of paying what they paid same time last year. Zenith and GT paid..50k as half year dividends and are paying the same this year. So also is Fidelity Bank. If they were to pay from the FX gains, the first two banks I mentioned will pay nothing less than N2 per share. Good thinking by the apex bank because I as a shareholder will not want such to happen. To the idiot that argued with me concerning shares the last time, I am looking forward to your comments. Children on Nairaland forming what they are not. 2 Likes |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ppogba: 11:00am On Sep 12, 2023 |
Mrpojj: Please don't say what you don't know. You could have typed K, L,M like your contemporaries on the front page and move on. |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ppogba: 11:03am On Sep 12, 2023 |
ALCOHOLKILLS: And if he becomes the worst, that will prolong your own life by twenty centimeters? Are you sure you can continue with this for the next four years? |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Zooposki(f): 11:03am On Sep 12, 2023 |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by OYEDIPE(m): 11:10am On Sep 12, 2023 |
ALCOHOLKILLS:I'm not sure you understand the topic and it's content. |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by OYEDIPE(m): 11:10am On Sep 12, 2023 |
ppogba:8 years |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by lapintoz: 11:14am On Sep 12, 2023 |
You can try jump into onitsha River. Your president is working you are wailing. Make your pain go away.....jump into the river in case there is no transformer close to you 😄😄😄 ALCOHOLKILLS: |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by omoadeleye(m): 11:35am On Sep 12, 2023 |
Doro55: Noob |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Mrpojj(m): 11:54am On Sep 12, 2023 |
ppogba:Ohh so people type K,L,M I didn't noticed Am Not that jobless |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by relagze: 12:13pm On Sep 12, 2023 |
This is a sucker punch by the CBN. Lets see how the currency respond. dre11: |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Elliotwaveforec: 1:33pm On Sep 12, 2023 |
Explanation: You had $100 before the revaluation when dollar was 450/N; now that it's now 780/N, the difference of N230 shouldn't be given as dividend but kept as an asset in the balance sheet so that if the CBN decides to devalue back to N500, the N230 saved would be used to offset the loss. It's called provisioning in accounting and part of the Prudential Guidelines of the apex bank. 1 Like |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by frog12: 3:33pm On Sep 12, 2023 |
all these na grammar |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by frog12: 3:35pm On Sep 12, 2023 |
that should be part of their gains or loss because of inflation. what's wrong with this cbn? Elliotwaveforec: |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by frog12: 3:37pm On Sep 12, 2023 |
so they are not reinvesting their money? ecolime: |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by frog12: 3:43pm On Sep 12, 2023 |
these rules are CRAZY !! crazy management ! |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ojesymsym: 5:08pm On Sep 12, 2023 |
Baba if you know so much about NSE why we non de see you for the NSE thread. I am sure we could do with some of of expertise as you seem to have displayed here. ppogba: |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ppogba: 5:25pm On Sep 12, 2023 |
ojesymsym: Check at least the last two threads on NSE especially the ones about the all time high index and you will find me there GIDIGBA. Thanks for your kind words though. |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ojesymsym: 5:27pm On Sep 12, 2023 |
Ah sorry sir... My eyes be de deceive me. ppogba: |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by ppogba: 5:40pm On Sep 12, 2023 |
relagze: There is no sucker punch here. The big banks have already declared their dividends and did not factor in the astronomical profit as a result of the FX gain. If this had come before they did then, shareholders that are "hungry" for too much dividend would have felt let down. Not paying dividend from the FX is "elementary, common=sensesical" accounting. Meanwhile, the "response" of the currency has nothing to do about this. |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by Growing(m): 5:52pm On Sep 12, 2023 |
The solution to our currency value is obviously more than fiscal policy. |
Re: CBN Stops Banks From Utilising Naira Devaluation Gains by soojar(m): 6:23pm On Sep 12, 2023 |
ALCOHOLKILLS: Really?? Please can you summarize for those of us who didn't understand? We learn every day |
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