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onatisi:
The cbn party is gradually coming to wn end

"Economic and financial experts said they were not sure if the CBN would continue to intervene in the market, especially as the price of oil continued to decline slightly in recent times."

It ended last week.

The CBN should never have reduced the spread for retail invisibles for banks from 315/375 (60 naira profit per dollar, which is at least N4.8b weekly profits) to 357/360 (3 naira profit per dollar, which is around N0.24b weekly profits), knowing fully well that the Banks are almost solely relying on FX to make their multi-billion naira profits in this recession. Now the banks have started hoarding dollars so they can sell on the black market (the bankers have to meet their quotas).

And we know aside fees, the CBN can't sanction any erring bank from not selling dollars. The last time they sanctioned 9 banks, d naira fell on the black market by around 15 naira.

And let's not forget that the directive they gave banks 3-4 weeks ago to set up FX sales outlets in the nation's airports has not been implemented by the banks.

Now instead of flooding the market with higher dollar spends, the CBN would have to resolve the impasse with the banks and IMTOs first.

Emefiele was intoxicated by his early victory that he took silly decisions when he should have been cautious.

All eyes on Monday and the new BDC rate.

-Lord

3RNEST:

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bedford101:
Enerst I greet you...

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LordAdam16:


It ended last week.

The CBN should never have reduced the spread for retail invisibles for banks from 315/375 (60 naira profit per dollar, which is at least N4.8b weekly profits) to 357/360 (3 naira profit per dollar, which is around N0.24b weekly profits), knowing fully well that the Banks are almost solely relying on FX to make their multi-billion naira profits in this recession. Now the banks have started hoarding dollars so they can sell on the black market (the bankers have to meet their quotas).

And we know aside fees, the CBN can't sanction any erring bank from not selling dollars. The last time they sanctioned 9 banks, d naira fell on the black market by around 15 naira.

And let's not forget that the directive they gave banks 3-4 weeks ago to set up FX sales outlets in the nation's airports has not been implemented by the banks.

Now instead of flooding the market with higher dollar spends, the CBN would have to resolve the impasse with the banks and IMTOs first.

Emefiele was intoxicated by his early victory that he took silly decisions when he should have been cautious.

All eyes on Monday and the new BDC rate.

-Lord

That was why I said and keep saying that by the time the neck of nigerians grow long like street light poles, then they will start thinking straight

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onatisi:

That was why I said and keep saying that by the time the neck of nigerians grow long like street light poles, then they will start thinking straight

They'd never think straight. They enjoy suffering. They need to change the name of the country to "Sufferia."

In 2018, Buhari may increase minimum wage, share the dollars APC chieftains bought cheaply in the last 5 weeks, and everybody will be saying he deserves a second tenure. No be Nigerians. Their mumuism no get part 2.

But mk their neck still grow long like street light poles. Who dey lose?

Abeg mk person sidon dey watch season film jare.

-Lord

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Ibraheem009:
Ernest is different from 3rnest. Hope you knw? Beware of impersonators.

No mind Bed... go to SKOOL I can't fit

LordAdam16:


They'd never think straight. They enjoy suffering. They need to change the name of the country to "Sufferia."

In 2018, Buhari may increase minimum wage, share the dollars APC chieftains bought cheaply in the last 5 weeks, and everybody will be saying he deserves a second tenure. No be Nigerians. Their mumuism no get part 2.

But mk their neck still grow long like street light poles. Who dey lose?

Abeg mk person sidon dey watch season film jare.

-Lord

Exactly. That is what I just do now. Watch with amusements at how nigerians complain.
They have injected 1billion dollars in just 40 days.,lets see if they will inject another 1 billion dollars in April

Post deleted.

onatisi:

That was why I said and keep saying that by the time the neck of nigerians grow long like street light poles, then they will start thinking straight

Lol when we were telling them the truth we were jubilating on a temporal victory ..... Thank God say i prepare this time if dollar like make im climb to 1000 i must follow chop.

I just pray bank should unblock there card so that hungry no go kill some people.

Cc
LordAdam16

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descrisom:
Ladyf, thanks for your visitation to my cabal yesterday, your presence make me feel alive at last,i will always welcome you every other days. I love you!!!

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wami7470:


Lol when we were telling them the truth we were jubilating on a temporal victory ..... Thank God say i prepare this time if dollar like make im climb to 1000 i must follow chop.

I just pray bank should unblock there card so that hungry no go kill some people.

Cc
LordAdam16

Unblock which cards. The banks no dey fear CBN.

Cards were opened (albeit with limits) when they were allowed to sell FX at any price they deem fit. Immediately CBN said they must sell within certain limits that was too low for them, they simply locked up. Mk Emefiele do him worst.

That's exactly what they're doing with retail invisibles now.

-Lord

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wami7470:


Lol when we were telling them the truth we were jubilating on a temporal victory ..... Thank God say i prepare this time if dollar like make im climb to 1000 i must follow chop.

I just pray bank should unblock there card so that hungry no go kill some people.

Cc
LordAdam16

They wont open any card. They knew from the start that cbn jamboree wont last. Honestly it is not worth it pitying nigerians and this is what the elites,political class and banks have realized. Let me just watch the april drama of cbn vs banks, dollar vs naira

ladyF:


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bemagnify:
NOTICE! NOTICE!! NOTICE!!!

I am selling my fully verified USA paypal account with the funds in it.

I have $203 in it and i am giving it out at 335/$

WHAT YOU WILL GET:

1) The USA number used in registering the account.

2) The email address and password used in registering the account

3) The $203 funds in it.

4) Other basic guidelines

Contact me on my signature if you are interested(PLS ONLY SERIOUS BUYERS). AbeG this one no be APRIL fool..o