rozayx5:



good old days

JustinSlayer69:


...you guys said this 3 months ago...

This tactic is poor for propping up the currency in a DEVELOPED COUNTRY with infrastructure in place for industrial revolution.

But in a DEVELOPING COUNTRY like ours, temporary measures must be taken while we set down the skeleton for long-term development.

Otherwise, 1$ would be equal to N2,000 if the Naira is freely floated as some have suggested. We are not simply exporting enough

By the way... during the global economic recession, CBN was doing exactly this in 2009 - 2014. It wasn't just so evident

Twallace:
I will still hoard them dollars,....... APC won't sustain it

vizkiz:


I am only implying that the 700m is not the actual figure. Probably exaggerated. Maybe you should stick to quoting comments you actually understand

olapluto:
I think I will sell my dollar today, although economics tells me that this CBN policy is not sustainable over a period of 2 months max.

XendersPride:
N250... can't wait

chukzyfcbb:

Mr man don't count your chickens before they are hatched. if you think naira is on the road to an everlasting recovery, you are a joker!!!

all these one CBN is doing na initial gra gra, from now till next year, don't expect the exchange rate to hit $1-250naira otherwise u are sick

JustinSlayer69:


...you guys said this 3 months ago...

This tactic is poor for propping up the currency in a DEVELOPED COUNTRY with infrastructure in place for industrial revolution.

But in a DEVELOPING COUNTRY like ours, temporary measures must be taken while we set down the skeleton for long-term development.

Otherwise, 1$ would be equal to N2,000 if the Naira is freely floated as some have suggested. We are not simply exporting enough

By the way... during the global economic recession, CBN was doing exactly this in 2009 - 2014. It wasn't just so evident

yourexcellency:
May they lose and not recover like MMM victims

habex005:
what is the current rate?

olapluto:
I think I will sell my dollar today, although economics tells me that this CBN policy is not sustainable over a period of 2 months max.

PBundles:
Thing is this is not sustainable and the CBN knows this. Their aim is to try and hold out as long as possible while trying to ringfence the selling of $ via the black market, but Im sorry to say this wont last. Its like someone with leaks in his roof saying, no problem I know where to buy buckets for the leaks. Yes initially its cheaper if you plan to eventually fix the roof, if you dont, it will collapse. Look this is economics its not magic or witchcraft.

Yes the CBN has intervened in the past, but then the naira was floating freely which is a BIG difference.

As the SWISS they tried it against the EURO and after 2 years came to the same conclusion.

This is a short term solution. Personally, we need to free float the Naira. The market is already telling its worth.

smartty68:
CBN against SPECULATORS. But make sure you're able to sustain it. Kwontinu

JustinSlayer69:


I have advice for you:

1. Get reading glasses.

2. Flog your English teacher, no where did i mention Naira is even recovering at all. Where did i even say it would fall?

3. Pray to God... your IQ is very low. There wasn't an iota of sense in what you wrote.

4. Go and change your diapers.

Have a nice day.

SuperS1Panther:


As long as we are selling crude oil, it is very sustainable.

Appeasing the Niger Delta militants before going on onslaught against the speculators was very strategic.

chukzyfcbb:
story, as long as naira exist dollar will always thump on them.
people are already converting thier fiat currency to bitcoin, how much more the dollar?

one thing I do know since I was born is that, when u save dollars it will always rise against the naira. always will, maybe its a curse but always will. The speculators that will lose are those quick to sell, if na me I go hold am till thy kingdom come he he

chukzyfcbb:

anybody that just read this can easily tell how low your I.q is. you can't even quote a comment intelligently to save your life. change your diapers? is that the best you could cook up from your brain? you couldn't even counter me with an intelligent fact. well I don't blame u even you name reeks of dullness like the bimbos called slay queen, you are called Justin slayer

Here's a handkerchief.....

smartty68:

Now is the best time to auction your dollars at cheaper rates. Speculators be calling my line since 4days now to buy their dollars. Another one just called me 5mins ago. The fear of CBN. Lol

RoyalBoutique:


Importers, exporters, traders, those with children schooling abroad, bank transactions, hoarders, embezzlers, bureau de change, oil marketers, etc

In fact, the money being released by cbn is not enough.

They should just let the dollar flow through like before.

olapluto:

So what happens the day CBN does not release dollars?

XendersPride:

N250... can't wait

awelekiti:
Don't do yourself harm, by attempting to hoard the dollar at this stage as it protends a great danger. This has got nothing to do with a particular political party. It's the reality on ground I advised my bureau de change to stop heaping up USD last month when the naira rose to 530 but he told me it's going to depreciate further. He went and bought USD for 495/497 hoping to sell at 550. A week later, I called him cos I needed USD. He said he's in hot soup as USD had crashed due to cbn intervention. The benchmark is 280 at interbank mkt and the cbn is poised to achieving that,even lower, as crude per barrel remains as it is for the next quarter. Unfortunately, nigerians are not good speculators

chukzyfcbb:

Mr man don't count your chickens before they are hatched. if you think naira is on the road to an everlasting recovery, you are a joker!!!

all these one CBN is doing na initial gra gra, from now till next year, don't expect the exchange rate to hit $1-250naira otherwise u are sick

VeeVeeMyLuv:

N100 to a dollar before year ends
place your bet.

famosh:

You're way too pretty, sis! Haba!

Jesusloveyou:
and i stil blame the cbn for all this mess we found ourselves.
All this speculators would have release their dollars they are be hoarding since last year.
Cbn were building reserve instead to release atleast 1b dollars every month. That means he should have defend the naira thru-out last year with atleast 10b dollars and we would have still arrive at 30b dollars in reserve with alot of economy gain.
Cbn stil need to release atleast 1b dollar to force the price to atleast 250naira.
Buhari is stil the best, and cbn is stil our problem.

awelekiti:
Don't do yourself harm, by attempting to hoard the dollar at this stage as it protends a great danger. This has got nothing to do with a particular political party. It's the reality on ground I advised my bureau de change to stop heaping up USD last month when the naira rose to 530 but he told me it's going to depreciate further. He went and bought USD for 495/497 hoping to sell at 550. A week later, I called him cos I needed USD. He said he's in hot soup as USD had crashed due to cbn intervention. The benchmark is 280 at interbank mkt and the cbn is poised to achieving that,even lower, as crude per barrel remains as it is for the next quarter. Unfortunately, nigerians are not good speculators

Jesusloveyou:
and i stil blame the cbn for all this mess we found ourselves.
All this speculators would have release their dollars they are be hoarding since last year.
Cbn were building reserve instead to release atleast 1b dollars every month. That means he should have defend the naira thru-out last year with atleast 10b dollars and we would have still arrive at 30b dollars in reserve with alot of economy gain.
Cbn stil need to release atleast 1b dollar to force the price to atleast 250naira.
Buhari is stil the best, and cbn is stil our problem.

jpphilips:
Oga CBN, increase the limit on debit card transactions to allow every Nigerian become a BDC, that is the only solution to the parallel market problem. stop giving usd to BDCs, allow us to use it over debit cards.