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Nairaland Forum / Nairaland / General / Business / CBN To Intervene In Forex Market, Lifts Ban On 43 Items (44928 Views)
Currency Redesign, 43 Items, Naira Float… Major Policies Of CBN In 2023 / What You Need To Know About CBN’s Lifting Forex Restriction On 43 Items / CBN Reiterates Stance On FX Access, ‘status Quo Remains On 43 Non-eligible items (2) (3) (4)
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Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Mrfeel: 6:20pm On Oct 12, 2023 |
I remember when Reno kept attacking peter obi calling him a trader telling his gullible followers that obi will lift the ban on importation in favour of his kinsmen to destroy Nigerian economy 12 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by stagger: 6:20pm On Oct 12, 2023 |
Againstallodds: Please explain the mechanism by which it will occur. |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Paraman: 6:20pm On Oct 12, 2023 |
Babangidapikin:What have we achieve since 2015 the bank kick off? People will now get dollar to import the likes of beef and rice, the local sellers have been giving time to grow and compete. 5 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Voiceofthestree: 6:20pm On Oct 12, 2023 |
Blue3k: No be Wetin you they buy you go sell cost money cost market cost comdity |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Isaacpyo04(m): 6:20pm On Oct 12, 2023 |
Hopefully things will improve 3 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by frog12: 6:21pm On Oct 12, 2023 |
no one is complaining about the items. tinubu is just serving agenda of west Abujaexpress: 1 Like |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by okewumi: 6:21pm On Oct 12, 2023 |
Reference: You get sense. Anytime government ban importation, the local producer shut up the price because of greedynes. Immediately obasanjo baned importation of egg, the price jumps from #80 per create to #900. When Buhari banned rice. The price went up from 12k to #30k . I went to Adani in enugu and two modu of rice which is equivalent to 50kg was around #14k but because of greedynes they sell in city around 32k. Nigeria is complex. Whatever it will make life better for masses should be introduced 20 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by BoldBrainz(m): 6:21pm On Oct 12, 2023 |
Againstallodds: I have mixed feelings about this. This is a purely experimental approach. They want to remove those import restrictions on those items to see if the entrance of more importers into the market will compel those hoarding FX to push the dollars back into the system. Also, those items have been on restrictions for years now, yet they're somehow finding their way into the country and to the local markets. Means importers are still smuggling them in. So why not give them the freedom to import so to see if it unties speculative knots around the FX windows?! Even if this is to ease pressure on the naira, it will be minimal and not immediate, say from next year. 10 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by happney65: 6:21pm On Oct 12, 2023 |
Algold: Boost local production by fixing power. That is the major thing. Boost local production. There cannot be any production if power isn't fixed 2. Bureau De change cannot be banned. It is a source of livelihood for some. In essence black markets cannot be totally banned as there are black markets around the world. Banning them will make things worst as people will go there to get their dollar.. I think any international payments coming into Nigeria should be paid in dollar. Domiciliary accounts should be easier to open. Western Union,MoneyGram and the likes should pay out too in foreign currencies. You should choose the option of either being paid in Naira or Dollar, If we can get over the counter, the rate will fall. The scarcity is what is making it hard and getting more expensive. But first of all. We should increase our productivity. We should start exporting. We are not exporting at all. When we do our currency will have a little bit more value. But before we can do that,we should fix Power. That is what Obi was telling una,yet we use ethnic and tribal sentiments take do am Shuke 8 Likes 1 Share |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Babangidapikin: 6:22pm On Oct 12, 2023 |
Paraman:At least there was more rice mill spring up , before the looted the Anchor Borrower fund , now Thailand would be happy , they can flood our economy with substandard rice .. |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Paraman: 6:22pm On Oct 12, 2023 |
frog12:What do you mean by this? Do you know how expensive this banned stuff have become since 2015? Rice and beef that were not so expensive in 2015 have become very expensive. 2 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Obviouslyblunt: 6:24pm On Oct 12, 2023 |
As long as importation is more than exportation, nothing will happen. Also lift restrictions by bank on naira cards. 1 Like |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Incredible128: 6:24pm On Oct 12, 2023 |
Dip what? Abi it will gain. Would I be the one to provide forex for the previously banned items? Againstallodds: |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by qtx(m): 6:24pm On Oct 12, 2023 |
chisomkachy:guess work i suspect. flip-flop, trial and error |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Badgers14: 6:25pm On Oct 12, 2023 |
Algold: In addition to what you wrote up there.. I still can't make sense of banks requesting for their customer to go and buy dollar from BDC and come back and deposit that dollar in the bank so the customer can pay their supplier in China or pay their kids tuition fee abroad. It is not like the banks will send the actual cash to bank of China or the university abroad. We know what's right in this country but will not do it!! 3 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by qtx(m): 6:25pm On Oct 12, 2023 |
Incredible128:may not gain if many people are allowed to source for it from other channels |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Abujaexpress: 6:26pm On Oct 12, 2023 |
frog12:South West of Nigeria or Southern World |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by frog12: 6:26pm On Oct 12, 2023 |
people have survived the banned items and no problem. stop complaining. this is bad policy. Paraman: |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by israelmao(m): 6:27pm On Oct 12, 2023 |
Emilokan in his first address to the nation as a selected president yanked off fuel subsidy without measures to ameliorate its negative impacts being put in place.How do you expect a smooth ride when cart is put before the horse? 1 Like |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by ruggedtimi(m): 6:27pm On Oct 12, 2023 |
Plenty talk |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by frog12: 6:28pm On Oct 12, 2023 |
west: america, europe and i used think you were smart Abujaexpress: |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by victorclean(f): 6:28pm On Oct 12, 2023 |
Long overdue. The level of hardship imposed on this nation by Emiefula Godwin is unimaginable. Emiefula need to be handed over to those terrorists in Sambisa ,for them to do the needful. He caused everything to skyrocket in price through foolish ban he imposed. Anytime we get the type of Emiefula, we hand over to bokoharam. We can convert the terrors of those terrorists to something useful. Emiefula 1 Like |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by ORIENTATION101: 6:30pm On Oct 12, 2023 |
frog12:fool, those items have been banned for 9yrs, instead local market Decides to choke nigerians making the price skyrockets everymarket days. How can imported rice and cement be cheaper than local ones. 7 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Paraman: 6:31pm On Oct 12, 2023 |
frog12:People are crying on the street cause of how things are becoming expensive or don't you live in Nigeria? A lot of families are not feeding well, we can't continue this way. People are not feeding well 3 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by frog12: 6:31pm On Oct 12, 2023 |
fool. how can local produce be cheaper than imported ones? one imported tomato in VI is N3000, but local ones maybe N50. what would you gain lifting the ban again please tell us ! ORIENTATION101: 1 Like |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Incredible128: 6:32pm On Oct 12, 2023 |
Which channels? Shey those channels are not existing now that the currency is going up?forget long talk qtx: |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Paraman: 6:32pm On Oct 12, 2023 |
frog12:Fall in price of does goods Foodstuffs have become extremely expensive |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Daystar7: 6:32pm On Oct 12, 2023 |
E be like say Dem wan tell us another story again ooo |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Lightorder: 6:33pm On Oct 12, 2023 |
Ban the use of dollar in Nigeria |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by Didi2d(m): 6:33pm On Oct 12, 2023 |
Abujaexpress: That's same question am asking. Since the ban on this product over the years, I expected Nigerians and business men to take advantage. But no. No matter the policy this government introduce, enemies of progress will still complain. They derive joy seeing things get worse so they can criticise and abuse tinubu. So let the ban be lifted so this things can come in cheap 5 Likes |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by frog12: 6:34pm On Oct 12, 2023 |
really you guys are being taking for a ride. how can local produce be cheaper than imported ones? one imported tomato in VI is N3000, but local ones maybe N50. Paraman: |
Re: CBN To Intervene In Forex Market, Lifts Ban On 43 Items by ORIENTATION101: 6:34pm On Oct 12, 2023 |
frog12:the importers will leave blackmarket forex and trade on cbn import and export forex windows which will boost forex liquidity . Watch how price of Rice and cement crash in weeks. 9 Likes |
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