₦airaland Forum

seunmsg:
Floating doesn’t mean CBN will not intervene occasionally to help provide liquidity for the market.
Trump recently introduced a wide range of tariffs that has affected trade globally. In fact, global trade has shrieked by about $10trillion in barely three days. All countries are affected so Nigeria cannot be an exception.
So in exceptional situations like this, CBN can intervene to ensure there is liquidity in the market. The aim is to make sure the exchange rate remains stable despite global shocks. The good thing is we are now in a very good position for such interventions with a net foreign reserve of over $23billion compared to the $3.9billion Tinubu met in 2023.
So, injecting $198million is nothing. It doesn’t even scratch our foreign reserve. We are building the reserve for a day like this when such intervention will be inevitable.

But most of d $24Bn may have been to pay back to imf and world bank

seunmsg:
The only failure here is your ignorance. CBN’s intervention to ensure market liquidity is not a failure. It shows strength.

Please tell me why the intervention if they knew what they were doing from the onset origo? U people had no economic strategy and now u are trying to lash in on the US tarrifs smashed on us as an excuse for the failure of the Naira.

See, I no know anything o, but even the blind can see that u guys are failing.

netricoin:
But most of d $24Bn may have been to pay back to imf and world bank

lol. We are not even owing IMF and World bank a total of $24billion so where did you get your figures from?

seunmsg:
lol. We are not even owing IMF and World bank a total of $24billion so where did you get your figures from?

Base on d condition of d loan from 2023 to 2025 and loan from others it should b 20% 0f thE 24BN Dollar