Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,161,448 members, 7,846,866 topics. Date: Saturday, 01 June 2024 at 04:44 AM |
Nairaland Forum / Nairaland / General / Business / CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ (20026 Views)
Naira Falls After CBN Stops Forex Sales To BDCs / Naira devaluation: BDCs get dollars at ₦393, sell for N494 / CBN Mandates IFIS To Increase Agent Network To 150,000 By 2020 (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by hedeybody: 2:56pm On Feb 28 |
Tttt |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Jackson105: 3:02pm On Feb 28 |
HateBigots: Just sharap! Pained loser, this week is better than last week, and that's a good news for lover of Nigeria but for a hater like you that want Nigeria to fail, it is a sad news because your Peter Obi didn't win, keep crying. 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by blackgold2018(m): 3:10pm On Feb 28 |
Shikena:smart answer |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Victoraguwa: 3:10pm On Feb 28 |
Hope you guys will also implement it on Custom duties too 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by CorrectionFLuid: 3:14pm On Feb 28 |
Dyfynezz12: What if they bought those goods when dollar was higher? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Menclothing: 3:29pm On Feb 28 |
Dialpad: You pity economy saboteurs they will loose because the government is back to fixing rate if you have dollar now sell They are no more floating it |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by ttoyetade: 3:38pm On Feb 28 |
Jackson105:if you think this is a good news for Nigeria, you are only deceiving yourself. This is now how to woo foreign investors and foreign businessmen which Nigeria badly need now. Businesses need stability. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Dyfynezz12(m): 3:40pm On Feb 28 |
CorrectionFLuid:Some of the goods they are selling on a high price was bought when dollar was low,their excuse then was that when they want to restock they will buy at higher price,why don't they use that same logic,now that $ is going down,or does $ only affect the increase in price without touching the reduction? 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Abrahamweb(m): 3:50pm On Feb 28 |
AntiChristian:You don't have brain if you think this directive will hold dollar down. Using gun to replace economic reforms will never work. Instead looking for better solutions they think they can force the dollar down using brute force and people like you will believe the bu11sh1t 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Dyfynezz12(m): 3:51pm On Feb 28 |
wunmi590:That's the thing Nigerians 're greedy but it's easier to point the blame finger at the government. What many sellers are doing now is just a reflection of our government. Take for example what many POS ppl did during the cashless policy. There was a time last week when there was speculation that price of petrol was abt hitting 1k mark,do u know what many filing stations in my place did?they locked their filling station in order to create scarcity of fuel so that they will sell at a very high price,they wanted to close up,allow two or three filling stations to sell ,create a quee, and sell at very high price then once they empty their thanks they will now call their colleagues who sell too to do the same thereby making mad profit and in turn blame the government for hardship. Honestly Nigerians are greedy and corrupt God didn't curse us with bad leaders no,he did with wicked human beings , A large population of us are greedy ,exploitive and corrupt.if the government doesn't regulate price of goods many sellers will sell at 10x the cost price and still turn back to blame government for the price increament. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by KingWarri: 3:57pm On Feb 28 |
Dialpad:Same thing was said when it hit 1k last year. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by lexy2014: 3:58pm On Feb 28 |
baby124: who said anything? where did you get "forcing" from? how does what u have said relate to or negate the following? The government you are supporting woke up and arrogantly said it will float the naira against. This caused a free fall of the naira as never before seen in Nigerias history. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by CorrectionFLuid: 3:58pm On Feb 28 |
Dyfynezz12: Not that fast. It's going to be a gradual slope. Government can dictate the price of dollar, and it will go into effect immediately. The price of goods will not follow that same instant pattern. Some people even took loans to stock up their shops and warehouses. Those loans won't pay itself. Tax were also paid on those goods, and the tax is based on the price of the goods at the time of purchase. So relax and be patient. The government only needs to be consistent and stable. Stability is oxygen to the economy. While instability is it's poison. As naira floating has come to an end (temporarily I assume), the government shouldn't wake up tomorrow and float it again. They should give it a long time till there's a comfortable level of predictability. 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by dearie(m): 4:13pm On Feb 28 |
So where is the gain? Naira Floating stopped and dollar still more expensive than when the floating took effect. Secondly, prices have already gone up...how do we ensure they drop too? This is what happens when someone just wakes up one morning and makes pronouncements that were not well thought out. Well, we will take it a day at a time. Let it keep coming down for the sake of the masses. UDOKABESTLUV: 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Growing(m): 4:14pm On Feb 28 |
So in essence, no more free float. 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Shikena(m): 4:24pm On Feb 28 |
Did they complain when they bought at lower dollar rate and hit market at higher rate? That is normal risk of doing any business. CorrectionFLuid: |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by poiZon: 4:27pm On Feb 28 |
Dialpad:What do u need 15000dolls for? If na for import n it is not under goods that r restricted from assessing Forex, u go to the bank n fill forms |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by OBTOREPA(m): 4:28pm On Feb 28 |
AntiChristian:lll For the USDqqqqqq |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Shikena(m): 4:29pm On Feb 28 |
That is the dreaded Nigerian factor that is always making the outcome of every economic policy defy defined economic logic since Nigeria was formed. The only factor that definitively impacts Nigerian economy is global oil price. Any other thing, Nigerians will scatter it even if the economy is handled by the inventor of economics. wunmi590: |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by HenryWilliams(m): 4:30pm On Feb 28 |
Dialpad: There's no way the dollar won't hit 2,000 by mid year Nothing will save the Naira |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by wunmi590(m): 4:31pm On Feb 28 |
Dyfynezz12: You are not far from the truth my brother |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by wunmi590(m): 4:31pm On Feb 28 |
Shikena: We are our own enemies, honestly |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by poiZon: 4:33pm On Feb 28 |
wunmi590:If they hoard the dollars, that means CBN as the supervisory institution has failed too... The Max BDCs r to sell to customers is 50dolls, if u need more u go to Ur bank n fill forms.... But to me BDCs should have been disbanded totally, let the banks create a department in their instructions where these trades n exchange take place so it could be duly monitored by CBN |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by poiZon: 4:34pm On Feb 28 |
donbrowser:So what do u think is the real value of naira now? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by wunmi590(m): 4:47pm On Feb 28 |
poiZon: Very aptly said, this is one of the best solution... If the above bolded is done the CBN should also give a close monitoring to the bank, the last time i went to the bank, come and see how they were begging me to change it for me, at a ridiculous exchange rate, until I now went to abomi to change it for a better rate.. So what I'm saying in essence is that once the bank have been given opportunity, they might start misbehaving and also hoard dollar |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by poiZon: 4:56pm On Feb 28 |
wunmi590:They won't, do u know that CBN always go on routine monitoring on banks vaults? Unless BMs n other too dogs in the banks will devise means n ways to hoard the cash outside the bank. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by marenkurz: 5:00pm On Feb 28 |
They should have pegged it at 1000 naira months ago. I wonder if prices of things will come down. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by DaHighLife: 5:30pm On Feb 28 |
How would this affect individuals selling dollars on the black market? If there is a pent-up demand for the dollar, insufficient supply, and no regulation of these markets, what would this policy effect? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Tonytonex(m): 5:39pm On Feb 28 |
CorrectionFLuid:make use of your brain don't let somebody to do the thinking for you. But it was okay to sell high the goods they bought when the dollar was low abi? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Sheffieldconsul: 8:24pm On Feb 28 |
Pity yourself if you think this white powerder sniffing S.O.B have your interest at heart. Naira will continue to depreciate perpetually for obvious reasons. Dialpad: |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by OBTOREPA(m): 8:36pm On Feb 28 |
AntiChristian:I wonder if you guys reason from anus , dollar that was 600 plus before Tinubu entered as president and now within a year USD skyrocket to almost 2k per $1 . Yet useless people like you is still blaming PO, I pity you. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by CorrectionFLuid: 8:36pm On Feb 28 |
Tonytonex: The person I quoted has replied and we've had the conversation, but you just had to showcase your generational IQ deficiency. Of everyone that quoted this comment, you're the only one that showed signs of madness. |
(1) (2) (3) (4) (5) (6) (7) (Reply)
Okpella Mining Site: BUA Group Tells Dangote To Respect The Judicial Process / Old Naira Notes: No Extension, January 31 Deadline Stands — CBN / Which Business Can I Start With #100000?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 60 |