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CBN Permits International Oil Firms To Sell 50% Of Proceeds - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusiness CBN Permits International Oil Firms To Sell 50% Of Proceeds (9259 Views)

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Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by millhouse: 4:42pm On Jun 01, 2024
Faiththatworks:
God bless Mr Cardoso.
This is another wonderful news from the CBN,for those who don't understand what's happening,the oil companies used to sell all their proceeds to the CBN who in turn will sell to the banks and Bureau D change.
This singular move has eliminated the CBN who used to act as the middle man,now the money can flow directly to the Banks and Bureau D change.
I predict Very soon the country will be awash with Dollars once Dangote releases his first liter of petrol into the market.
The CBN understands It's just a matter of weeks before the Usd begins to fall,thus it's no longer interested with what the IOCs do with their income.
Like Mr Otedola who saw the future and pulled out totally from the Importation and Sales of Diesel,I urge every Usd speculator to take heed and stop this devilish practice before the force of Gravity hits them.
God bless Nigeria.
CBN was selling their FX for them , now they are to sell by themselves… what difference does it make ?
. You think they well will sell at low prices or highest bidder ? When they were selling it by themselves before CBN went to to do busy body , thinking they were the ones pushing up the rate , Cardozo eye never open? Abeg talk another thing .
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Faiththatworks(m): 4:44pm On Jun 01, 2024
Blazetrailer:
Hallucinations of the highest order.
Dangote's dollars?? Come to Nigeria?

Where are these dimwits getting these ideas from?
I don't usually reply people but I will take an exception.
Sir what I mean is very simple,I'm not implying Dangote will release Usd into the Economy,but his petrol will free up the money used in importing Petrol into Nigeria every month.
Every month sir,NNPCL imports 1 billion litres of Petrol every month at a rate of 35 million litres Evey day.
This petrol is paid for using proceeds from oil receipts derived from expoert of crude oil,thus depriving Nigeria of close to 200 million Dollars every month.
Sir I hope you understand now why I said once Dangote releases his petrol into Nigeria,the country will save millions of Dollars which should have been used for import of petrol.
Thanks sir and God bless you
God bless Nigeria
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by anonimi: 4:45pm On Jun 01, 2024
gasparpisciotta:
Whatever initiative to improve the Naira is welcome but some greedy people will still corrupt it for the selfish gains.
Greedy people like ThiefNuibu and others in his administration huh
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by saddler: 4:52pm On Jun 01, 2024
Sccarrr:
with the global economic crisis,the Agulu fraud would have been a serious calamity , Nigeria this moment for be like Titanic deep deep in the abyss
Its only in the shit head of APC zombies like you that the world is experiencing global economic crisis
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by descarado: 4:53pm On Jun 01, 2024
magoo10:
They are tired of blaming binance and crypto players.
Cardoso and gbajue oluwole economics.
Don't be quick to blame the cbn governor.
There is a limit to what the apexbank can do. It is the responsibility of the president to make the economy work with well thought economic policies. Not when you keep on vomiting, you want your maid to do the magic of cleaning up your vomit always. At a point the maid will get tired. Also for every action the cbn takes, the president must approve and sign. the question is does the president and his team listen?
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by OALandAgents: 4:55pm On Jun 01, 2024
Minister of Petroleum must know about this! angry

Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Inspirer1: 4:55pm On Jun 01, 2024
Faiththatworks:
I don't usually reply people but I will take an exception.
Sir what I mean is very simple,I'm not implying Dangote will release Usd into the Economy,but his petrol will free up the money used in importing Petrol into Nigeria every month.
Every month sir,NNPCL imports 1 billion litres of Petrol every month at a rate of 35 million litres Evey day.
This petrol is paid for using proceeds from oil receipts derived from expoert of crude oil,thus depriving Nigeria of close to 200 million Dollars every month.
Sir I hope you understand now why I said once Dangote releases his petrol into Nigeria,the country will save millions of Dollars which should have been used for import of petrol.
Thanks sir and God bless you
God bless Nigeria
AGO (diesel) and ATK were being imported too and at least we all know he has started diesel production as well as the avaition kerosine and lifting has commenced from his refinery, of what effect is that on the dollar/naira rate so far?

We wait to see the effect of that of Petrol when he starts.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by descarado: 4:56pm On Jun 01, 2024
Sccarrr:
with the global economic crisis,the Agulu fraud would have been a serious calamity , Nigeria this moment for be like Titanic deep deep in the abyss
Oh shut up.
If you have a good suggestion on how to help cos these people read and debate on people's opinions online, do. If you don't, shut up again.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Bluntemperor: 4:56pm On Jun 01, 2024
Melagros:
COMRADES are speechless at CBN right now huh huh
Tell us what you know about the CBN Operations, whether it's out of their Functions!
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by magoo10(m): 5:10pm On Jun 01, 2024
descarado:
Don't be quick to blame the cbn governor.
There is a limit to what the apexbank can do. It is the responsibility of the president to make the economy work with well thought economic policies. Not when you keep on vomiting, you want your maid to do the magic of cleaning up your vomit always. At a point the maid will get tired. Also for every action the cbn takes, the president must approve and sign. the question is does the president and his team listen?
So we should not blame him and blane the president alone grin
My brother if he cannot perform his job because the president is not listening to him he should resign.
Failure to do so will disgrace himself and rhe people he represents.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Sccarrr(m): 5:30pm On Jun 01, 2024
saddler:
Its only in the shit head of APC zombies like you that the world is experiencing global economic crisis
just like the third class Agulu fraudster ...dull people 😹
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Blazetrailer:
LOL!
How you people arrive at these simplistic assumptions still befuddle me. I am not surprised anyway, there are lots of misinformation and propaganda going on oyt their, especially on the side of the government to hide their inefficiencies and the fact that they are clueless on how to resolve the economic sham and impending recession they have got Nigeria into.

Bro, to keep it brief. Your analysis helps the foreing reserve in the short run. Now,in a free floating system as they claim(we know it is a lie, currency was stupidly and hurriedly devakued without understanding the wider implications), the increase in your foreing reserve means zilch, nada, zero, nothing, unless the government intends to use it to defend the local currency by funding imports from it. Otherwise it means nothing to the local currency in the long run.

Faiththatworks:
I don't usually reply people but I will take an exception.
Sir what I mean is very simple,I'm not implying Dangote will release Usd into the Economy,but his petrol will free up the money used in importing Petrol into Nigeria every month.
Every month sir,NNPCL imports 1 billion litres of Petrol every month at a rate of 35 million litres Evey day.
This petrol is paid for using proceeds from oil receipts derived from expoert of crude oil,thus depriving Nigeria of close to 200 million Dollars every month.
Sir I hope you understand now why I said once Dangote releases his petrol into Nigeria,the country will save millions of Dollars which should have been used for import of petrol.
Thanks sir and God bless you
God bless Nigeria
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Sccarrr(m): 5:33pm On Jun 01, 2024
descarado:
Oh shut up.
If you have a good suggestion on how to help cos these people read and debate on people's opinions online, do. If you don't, shut up again.
go to the kitchen my friend 😏
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by 82man: 5:45pm On Jun 01, 2024
Bounce of criminals
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by descarado: 5:46pm On Jun 01, 2024
Sccarrr:
go to the kitchen my friend 😏
Small idiot. You seemed overjoyed with yourself.
Lazy youth.
Only mouth. Tomorrow, change moniker to beg online.
Shior
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by tegrianonigltd(m): 5:57pm On Jun 01, 2024
Thundafireseun:
So Peter obi wasn’t desperate??

And you think Peter obi has blueprint?

Stop sounding stupid
Can you compare a man who has head banks, built successful businesses in England and africa, who has chairman SEC, who was part of the economic team that wiped out national debt in 2000s, who has been an investor, economist, strategist, who has chairman companies, who has sat across boardrooms home and abroad to take risky, strategic financial, business, economic decisions?



To a man who had just 2 years as a Mobil accountant, and then lifelong politicianhuh

The thing is I do think logical, and you all think emotionally.

There is a big difference between both of them.


You all have to accept that.

If you have a company you would never choose Tinubu to head it. He is just a tax widen administrator.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Fearurcreeator: 5:59pm On Jun 01, 2024
Thundafireseun:
So Peter obi wasn’t desperate??

And you think Peter obi has blueprint?

Stop sounding stupid
Person wey dey madt
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Faiththatworks(m): 6:05pm On Jun 01, 2024
Inspirer1:
AGO (diesel) and ATK were being imported too and at least we all know he has started diesel production as well as the avaition kerosine and lifting has commenced from his refinery, of what effect is that on the dollar/naira rate so far?

We wait to see the effect of that of Petrol when he starts.
Yet again I take exception to my rule of not replying people and I will reply you, it's not what you are seeing that's important,it's what you don't see.
If Dangote wasn't supplying Diesel and Aviation fuel,I'm sure the cost of a liter of Diesel will be close to 2000 a liter,even the Naira to the Dollar would have gone close to 2000 Naira.
Do you know how much Foreign exchange Dangote freed up by supplying Nigerians Diesel and Aviation Fuel.
I know you will never agree with Me but I daresay even the CBN had stopped allocation of Usd to Importers of Diesel and Aviation Fuel and they were sourcing their foreign exchange Directly from the black market.
Do you how much supply pressure you ease on the Dollar by removing close to 10 million Dollars monthly Demand from the Market.
I rest my case and ask you to open your eyes to what you don't see.
Nigeria will eventually get better,and I know it's very soon.
God bless Dangote
God bless Nigeria.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Sccarrr(m): 6:06pm On Jun 01, 2024
descarado:
Small idiot. You seemed overjoyed with yourself.
Lazy youth.
Only mouth. Tomorrow, change moniker to beg online.
Shior
online beggar you think everyone is like your papa?😹...get the fuvk off my mention broke thing
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Diligence: 6:27pm On Jun 01, 2024
See erh: Policy Instability, Trial & Error, Flipflops no dey attract foreign investors
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Teymanhenry(f): 7:51pm On Jun 01, 2024
Jemex003:
You should blame your father or the fathers in your family not Tinubu cuz what were they doing with their life when Tinubu is leading us Today but hope not what I’m thinking
Tinubu will forever be blamed for removing subsidies on fuel. Fuel subsidy was the only way the FG would relieve economic hardship on all Nigerians. But here we are badly blaming the wrong people because of selfish reasons
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Thundafireseun: 7:57pm On Jun 01, 2024
tegrianonigltd:
Can you compare a man who has head banks, built successful businesses in England and africa, who has chairman SEC, who was part of the economic team that wiped out national debt in 2000s, who has been an investor, economist, strategist, who has chairman companies, who has sat across boardrooms home and abroad to take risky, strategic financial, business, economic decisions?



To a man who had just 2 years as a Mobil accountant, and then lifelong politicianhuh

The thing is I do think logical, and you all think emotionally.

There is a big difference between both of them.


You all have to accept that.

If you have a company you would never choose Tinubu to head it. He is just a tax widen administrator.
You're being emotional here …. But I don’t want to argue with you tonight

Nigeria is in safer hands with Tinubu more than you think… Peter Obi can’t stand anywhere close to Tinubu…

I’m Igbo by the way…. Before you come with sentimental crap
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by tegrianonigltd(m): 9:53pm On Jun 01, 2024
Thundafireseun:
You're being emotional here …. But I don’t want to argue with you tonight

Nigeria is in safer hands with Tinubu more than you think… Peter Obi can’t stand anywhere close to Tinubu…

I’m Igbo by the way…. Before you come with sentimental crap
By what experience?

2 years Mobil, Governor ?


To Peter oBi administrative experience in banking, business, SEC, corporate world, investment?

You Dey play?? You mean me being emotional to choose someone with a good CV to run your company?

Would you employ Tinubu to run your conglomeratehuh
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by NothingDoMe: 10:58pm On Jun 01, 2024
victory36:
Stylised theft cool
All I could say was, "My God! Bye-bye, Mobil, Chevron, and others. I guess it's time."
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Thundafireseun: 1:47am On Jun 02, 2024
tegrianonigltd:
By what experience?

2 years Mobil, Governor ?


To Peter oBi administrative experience in banking, business, SEC, corporate world, investment?

You Dey play?? You mean me being emotional to choose someone with a good CV to run your company?

Would you employ Tinubu to run your conglomeratehuh
Yes I will , at bolded

To lead an evil country like Nigeria filled with vampires is completely different from running an office

Can you compare a man that was impeached in his first tenure in office

To a man who President Obasanjo fought for 8years with tooth and nail to remove from office yet he couldn’thuh

NOI ‘s father was kidnapped when NOI was the minister controlling the federation just because she moved against same subsidy…( my point is Nigeria is filled with evil corrupt people and they always fight back….Do you think PO will be able to fight back??)

Tinubu’s campaign train was graced with the presence of the sitting president and ALL APC GOVERNORS and all APC SENATORS AND LAWMAKERS

Not one single prominent Igbo man was supporting PO during the last election…. That should tell you that this man isn’t capable to lead Nigeria

Ordinary LP and Kenneth Okonkwo PO is finding it hard/ impossible to put them together they keep embarrassing themselves every day in the news ….

Brother if you remember how Jonathan was embarrassed and called incompetent with killings , kidnapping, and bombings 💣 in around the FCT will be child’s play compared to what would have happened to PO if he ever dreams of becoming even Agulu youth president…
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by tegrianonigltd(m): 9:53am On Jun 02, 2024
Thundafireseun:
Yes I will , at bolded

To lead an evil country like Nigeria filled with vampires is completely different from running an office

Can you compare a man that was impeached in his first tenure in office

To a man who President Obasanjo fought for 8years with tooth and nail to remove from office yet he couldn’thuh

NOI ‘s father was kidnapped when NOI was the minister controlling the federation just because she moved against same subsidy…( my point is Nigeria is filled with evil corrupt people and they always fight back….Do you think PO will be able to fight back??)

Tinubu’s campaign train was graced with the presence of the sitting president and ALL APC GOVERNORS and all APC SENATORS AND LAWMAKERS

Not one single prominent Igbo man was supporting PO during the last election…. That should tell you that this man isn’t capable to lead Nigeria

Ordinary LP and Kenneth Okonkwo PO is finding it hard/ impossible to put them together they keep embarrassing themselves every day in the news ….

Brother if you remember how Jonathan was embarrassed and called incompetent with killings , kidnapping, and bombings 💣 in around the FCT will be child’s play compared to what would have happened to PO if he ever dreams of becoming even Agulu youth president…
Obi was the first governor to destroy kidnappers houses and properties in Nigeria, he was the first govenor to doggedly win by court after they stole his mandate as governor, and won again, he was the first govenor to chase all kidnappers from his state as governor, you dey look Obi as a calm man? Lol I pity you.

A man who has taken risky business, managerial, financial, political, social, investment decisions all his life.

You Dey use am compare tax widen manager? Put people in positions?


There is a big gap between administration and cartel.

Read that again.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by Thundafireseun: 4:58pm On Jun 02, 2024
tegrianonigltd:
Obi was the first governor to destroy kidnappers houses and properties in Nigeria, he was the first govenor to doggedly win by court after they stole his mandate as governor, and won again, he was the first govenor to chase all kidnappers from his state as governor, you dey look Obi as a calm man? Lol I pity you.

A man who has taken risky business, managerial, financial, political, social, investment decisions all his life.

You Dey use am compare tax widen manager? Put people in positions?


There is a big gap between administration and cartel.

Read that again.
Point of correction… Obi never won the election….

Obi was only compensated because of Ojukwu … Ngige won the election but had problems with his godfathers …

So food was removed from his mouth

I know Obi is not as clam as he looks but he will never be tough enough to handle Nigeria

Kindly give Nigeria to Tinubu…

For the record I’m Igbo like I said earlier
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by tegrianonigltd(m): 11:29pm On Jun 02, 2024
Thundafireseun:
Point of correction… Obi never won the election….

Obi was only compensated because of Ojukwu … Ngige won the election but had problems with his godfathers …

So food was removed from his mouth

I know Obi is not as clam as he looks but he will never be tough enough to handle Nigeria

Kindly give Nigeria to Tinubu…

For the record I’m Igbo like I said earlier
lol, these men, lol, kindly give, no be Tinubu dey lead so? Lol, Abi na another Tinubu? The builder of men, let him build, we know administration no be politics.
Re: CBN Permits International Oil Firms To Sell 50% Of Proceeds by blacknp(m): 1:26am On Jun 03, 2024
MrProlific95:
Tinubu government of trial and error,

with the way the man was desperate to be President, you would think he had a blueprint walahi.
If your own ability to be successful so far in life isn’t still on trial & error mode, you wouldn’t be on Nairaland complaining about monetary policies not controlled by the president.

Most times, than often, you all are just in a rush here to exhibit your ignorance on how the economy truly works, just mentioning the president’s name, is enough for you to believe your own gross obliviousness of issues.

Never once have you ever mentioned anything your state government has done to better the lives of yourself & family.

It is President Tinubu that you are waiting for to come & better your existence in that enclave that you habitat?
1 2 Reply

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