Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,171,084 members, 7,880,376 topics. Date: Thursday, 04 July 2024 at 05:06 PM

Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks (30043 Views)

Naira Gains, Dollar Crashes At Parallel Market / Naira Firms On Black Market After Central Bank Action - BDC Traders / CBN Reinstates 9 Banks Suspended From Forex Market (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Jacko1(m): 7:41pm On Aug 24, 2016
Uncle ngwa zitee m ego sharp sharp

Dollar a riala

Oh nogbua kaa ego gi ga enwe isi

Kaa m ji ya choo kemi....gbemi.... Lola....folake hehe
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 7:42pm On Aug 24, 2016
DabuIIIT:

emefiele for president
...well, he may be well for president, but he is worst in monetary management!
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by ehijoe(m): 7:42pm On Aug 24, 2016
Emefiele has finished Nigeria at last. Sai go bei. when two dull heads are leading. all u see is ineffectiveness. Let Baba Iyabo come and tell us that Bubu has done well so far. roaming political lions.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by activeguy: 7:46pm On Aug 24, 2016
Toeyoursea:


The banks violated the TSA agreement and they should be made to face the wrought of the law. The price hike is the price the government will have to pay for doing the right thing and I think it is worth it. They will learn to take Nigeria serious next time; THE ERA OF IMPUNITY IS OVER.



These zombies are simply irredeemable..
This is what you would still say when a dollar finally exchanges for #1000.

2 Likes 1 Share

Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Excellentmind: 7:46pm On Aug 24, 2016
It's only an irrational person that will be surprised at this great achievement by this Government filled with technocrats. Bravo, as we expect more.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by murmee: 7:47pm On Aug 24, 2016
Toeyoursea:


The banks violated the TSA agreement and they should be made to face the wrought of the law. The price hike is the price the government will have to pay for doing the right thing and I think it is worth it. They will learn to take Nigeria serious next time; THE ERA OF IMPUNITY IS OVER.
Good post. Thank you.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Lemeechi: 7:52pm On Aug 24, 2016
Toeyoursea:


THE ERA OF IMPUNITY IS OVER.
Impunity by THEM, but not by US, abi? Or what is it when a competent court grants an accused bail and the government will not allow it?
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 7:57pm On Aug 24, 2016
..it's only Nigerian that didn't have money guard!, the guardian of money is consumer if trader safeguard his commodity the buyer safeguard the the money!
CBN can't safeguard the value of money it's the function of the buyer! that's where emefiele is failed!
if there no more denomination in circulation what the buyer will safeguard?
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Dee60: 7:58pm On Aug 24, 2016
CBN is failing while FG watches. Is there any bias there? Is the allegation about one bank being taken from the list any true? Why punish one bank who was ready to pay and leave out the other one who just paid before the rogue announcement was made? Are they showing competence? How long will PMB watch as naira depreciates?
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by okoro2much: 8:03pm On Aug 24, 2016
neocortex:
Sai Baba,
we are solidly behind you undecided

#iStandWithBuhari
Before December, it would hit 700, then Buhari would reverse it to 1 naira = 1 dollar. Sai Baba, Sai Buhari!

2 Likes

Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Nobody: 8:12pm On Aug 24, 2016
Buhari needs to step down.... Before causing another economic and civil crisis
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by diva90: 8:15pm On Aug 24, 2016
*sips tea*
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 8:17pm On Aug 24, 2016
okoro2much:


#iStandWithBuhari
Before December, it would hit 700, then Buhari would reverse it to 1 naira = 1 dollar. Sai Baba, Sai Buhari!
...until #iStandWithEmefiele is flushes-out $1=N1000, Sai Godwin, Sai Emefiele!

1 Like

Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 8:18pm On Aug 24, 2016
krispycash:
Buhari needs to step down.... Before causing another economic and civil crisis
..and Emefiele prosecuted?
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Nobody: 8:22pm On Aug 24, 2016
oyinkinola:

..and Emefiele prosecuted?
Yes.... And Lai Mohammed jailed... FASHOLA also and these lunatics who feel leading is by trial and error... Lies and the likes....
They are likened to a thief screaming thief and pointing in another persons direction... To throw suspicion off him... That is the story of the Bihari government...
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 8:29pm On Aug 24, 2016
krispycash:

Yes.... And Lai Mohammed jailed... FASHOLA also and these lunatics who feel leading is by trial and error... Lies and the likes....
They are likened to a thief screaming thief and pointing in another persons direction... To throw suspicion off him... That is the story of the Bihari government...
...hun-un take it easy! you know igbo is finally finished Nigeria as they promise?
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by softheart4love(m): 8:35pm On Aug 24, 2016
ercel:
Were there no other ways to compel those banks to remit order than this ban? It has now added pressure for FX on the other remaining banks who have not been faring well!
A step forward and two backward won't do us good in this country!

Compelling banks to remit foreign currency is not the excuse why the economy is in red, we should all remember that more Gov't fund were in almost all the banks in Nigeria in the previous administration and economy was better in terms of anything. Nigerians should stop the pretence with incompetent APC led Gov't
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by adeoba2008(m): 8:36pm On Aug 24, 2016
10 step backward. Na wa oo. Why is that Nigerian banks are too lazy to think ? They lack innititive.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by doovers(m): 8:37pm On Aug 24, 2016
Toeyoursea:


The banks violated the TSA agreement and they should be made to face the wrought of the law. The price hike is the price the government will have to pay for doing the right thing and I think it is worth it. They will learn to take Nigeria serious next time; THE ERA OF IMPUNITY IS OVER.

But fining them is a better punishment banning them from forex is punishing them and punishing innocent citizens that need Forex to do business.
This government needs to exit by 2019
They are insensitive and dull
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by doovers(m): 8:40pm On Aug 24, 2016
Toeyoursea:


The banks violated the TSA agreement and they should be made to face the wrought of the law. The price hike is the price the government will have to pay for doing the right thing and I think it is worth it. They will learn to take Nigeria serious next time; THE ERA OF IMPUNITY IS OVER.

Fining them is a better punishment banning them is punishing them and innocent citizens that need Forex to do business.
This government needs to exit by 2019 for their insensitive and myopic view on governance
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Capitano1(m): 8:41pm On Aug 24, 2016
Paypal available for sale. Contact now!!!!
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by ngmgeek(m): 8:46pm On Aug 24, 2016
Some old men are playing hide and seek with our economy.

Those who voted for change. How market? cheesy
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Nobody: 8:51pm On Aug 24, 2016
oyinkinola:

...hun-un take it easy! you know igbo is finally finished Nigeria as they promise?
Let us forget tribe.... I am a Yoruba man... Mom is from the north... But I will tell you this... If you are going to get tribalistic, the issue is with the Yorubas and the fulanis.... The ibos have been marginalized over time... But the honest truth is... The people who vote these lunatics in are the issue....

Civil servants get retired at 60... How come we have a "PRESIDENT" who is so inconsiderate... He is better at blaming people than leading the nation....
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by mashnino(m): 8:54pm On Aug 24, 2016
blueto:
This is what happens when the govt is so clueless and myopic to foresee and evaluate the future effects of their decisions.

meanwhile, we are still waiting for the Yuan deal.

Shut up joooor

Rubbish.. Aren't you tired of repeating this same line everyday

Did the 9 banks default or not? Were the rules set or not?

What you are seeing here is the action of man. Forget government.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 9:10pm On Aug 24, 2016
krispycash:

Let us forget tribe.... I am a Yoruba man... Mom is from the north... But I will tell you this... If you are going to get tribalistic, the issue is with the Yorubas and the fulanis.... The ibos have been marginalized over time... But the honest truth is... The people who vote these lunatics in are the issue....

Civil servants get retired at 60... How come we have a "PRESIDENT" who is so inconsiderate... He is better at blaming people than leading the nation....
yoruba? kilooki re, ki looki idile yin!
why can't we blame igbo, who the Governor of CBN?
what a clueless why you people don't used to warning? am i not warn many times! igbo promise to run Nigeria down and they were working towards their promise, period!
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Realist2: 9:23pm On Aug 24, 2016
blueto:
This is what happens when the govt is so clueless and myopic to foresee and evaluate the future effects of their decisions.

meanwhile, we are still waiting for the Yuan deal.

All the globe-trotting including the Chinese Yaun deal was a glorified wasted effort, wastage taxes payer money.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Abagworo(m): 9:56pm On Aug 24, 2016
danowena:
Anyone transacting in dollars and earning in naira is doomed. Number of people travelling abroad for holidays has reduced. Those schooling abroad are considering withdrawing. Those planning to school have to reconsider. The business men are scared of putting their money because of the many changes in our forex policies which this administration admits to be a gamble. How can u be gambling with the lives of over 120 million people? Mtcheeeeeeew


Everything you wrote up there is positive development. Money is devalued to discourage frivolity. Finally it's all dependent on the amount of foreign exchange Nigeria earn this period. There is shortage of foreign exchange because we depend almost entirely on oil which has dropped in value with our production equally affected by NDA sabotage.

The reality is that to survive we must embrace local products and even try to produce more locally.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by Smartbrain2: 10:01pm On Aug 24, 2016
Incredible, how? This is uncalled for in our economy, just hope cbn and FG would domsimething about this as soon as possible, cos this will trigger the already high rate of inflation in the economy. (less goods more damnd would be the result) and it is not too pleasant for a developing country like Nigeria.
FG AND CBN, pls come in hollistically at this point.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by DonCortino: 10:29pm On Aug 24, 2016
Toeyoursea:


The banks violated the TSA agreement and they should be made to face the wrought of the law. The price hike is the price the government will have to pay for doing the right thing and I think it is worth it. They will learn to take Nigeria serious next time; THE ERA OF IMPUNITY IS OVER.
There are better ways to punish them. U dont throw away d baby with d bath water!

The common man is feeling d bad effect of this action.
Re: Naira Crosses 400/$ Mark At Parallel Market After FX Ban On 9 Banks by oyinkinola: 10:30pm On Aug 24, 2016
Realist2:


All the globe-trotting including the Chinese Yaun deal was a glorified wasted effort, wastage taxes payer money.
https://www.nairaland.com/3306047/godwin-emefiele-clueless-must-sacked#48774318

(1) (2) (3) (4) (5) (6) (Reply)

Shipping Agents From London To Lagos / Ibadan Firm Exported Nine Billion Dollars Industrial Starch. / Share Your Cash Scarcity Experience

(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. 62
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.