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CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To - Business (2) - Nairaland

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Gezawa Commodity Market Kano: Nigeria's First Agro Commodity & Exchange Market / Naira Climbs To N360.55/$ As CBN Injects $210 Million / Naira Gains As CBN Injects $210m Into FX Market (2) (3) (4)

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Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by aolawale025: 7:44am On May 10, 2017
The cbn needs to wean the bdcs off dollar allocation. Any system that harbours allocation is prone to corruption and manipulation. BDCS should develop an independent dollar source (by selling naira to foreign based transfer outfits). Buying from tourists etc.

By the way, I just hit a total of 100 "likes" this morning!
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by didymario7(m): 7:45am On May 10, 2017
I need this type of injection in my life please. Just $100K will do. What an injection that would be!grin
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by Emeskhalifa(m): 7:47am On May 10, 2017
CheezyCharles:
they keep injecting and naira is not responding to treatment . maybe she doesn't like injection cos I don tire oh..... 10,000 Ghc(ghana cedis) = 1million just imagine
are u serious shocked

think its tym I move to GH o no tym
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by israelmao(m): 7:47am On May 10, 2017
Injection Forex should be matched with homegrown technology and cash crops which could exported in that way value of naira can be sustained as we earn more dollars.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by ybalogs(m): 7:52am On May 10, 2017
COPIED

A young woman who was several months pregnant was sitting in a bus in London and she noticed a young man giggling at her. Feeling embarrassed on the account of her condition, she changed her seat and he seemed even more amused. She moved again and then seeing him laughing more, she called 999 and subsequently filed a court case against him.

In court, the man's defence was, "When the lady boarded the bus, I couldn't help noticing she was pregnant. I giggled when she sat under an advertisement, which read 'Coming Soon - The unknown Born'. I was even more amused when she moved and sat under a shaving advertisement, which read 'William's Stick did the trick'. Then, I could not control myself any longer when on the third move, she sat under an advertisement that read, 'Dunlop Rubber would have prevented this accident'.

The judge fell off his chair, laughing.

Court!!!
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by chuksjuve(m): 7:56am On May 10, 2017
The CBN governor and the minister for Finance have been injecting the economy since inception with no results to show.

I just hope this injection the CBN governor is about to give is potent enough...

1 Like

Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by dallyemmy: 7:58am On May 10, 2017
WE NEED TO FIND OUT WHAT PEOPLE ARE USING THE FOREX FOR AND REPLICATE SAME HERE IN NIGERIA...IF NOT VERY SOON WE MIGHT RETURN BACK TO WHERE WE ARE COMING FROM... angry angry angry
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by mathew2oa(m): 8:01am On May 10, 2017
This country is so messed up, and I don't blame the politicians becos this contraception called 'Nijeriya' (in buhari's voice) is never meant to be one. The zombies can keep up denying it, bt the state of the country keeps proving them wrong.
Even if pope Frances and prophet Muhammad(SAW) combined rule this 'lugard's company'(nigeria) it will never prosper.
We are divided nationally in our heart, even buhari wil attest to that, but together in paper.
Restructuring or succession is the only way out, but I go with the former.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by LionDeLeo: 8:03am On May 10, 2017
mathew2oa:
This country is so messed up, and I don't blame the politicians becos this contraception called 'Nijeriya' (in buhari's voice) is never meant to be one. The zombies can keep up denying it, bt the state of the country keeps proving them wrong.
Even if pope Frances and prophet Muhammad(SAW) combined rule this 'lugard's company'(nigeria) it will never prosper.
We are divided nationally in our heart, even buhari wil attest to that, but together in paper.
Restructuring or succession is the only way out, but I go with the former.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by Clone2020(m): 8:13am On May 10, 2017
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 340/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 355/$ with fees and the exchange rate drops to around 316/$...

Hurry before it drops even further..

Contact in signature
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by ISTANDWITHBUHAR: 8:14am On May 10, 2017
eezeribe:
CBN under Emefiele has been dishing out policies by Trial and error.

Ministry of finance under Adeosun has been dishing out policies by permutations.

Federal government under Buhari has been dishing out policies by guess work.

INDEED,THERE WAS A COUNTRY!


and the brain in your has been thinking negatively that make you senseless..
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by shevon: 8:45am On May 10, 2017
LionDeLeo:
FCMB increased sales?

Pls when will cbn increase foreign currency withdrawal from Naira-denominated accounts?
I was going to ask the same question. Even if it is to increase the limit to $500/month (which is still a far cry from what should be) it is better than the current $100.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by LionDeLeo: 8:48am On May 10, 2017
shevon:

I was going to ask the same question. Even if it is to increase the limit to $500/month (which is still a far cry from what should be) it is better than the current $100.

Exactly.

At least $500.

At least nobody will go on the much talked about round tripping because of even $5k.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by Nobody: 8:51am On May 10, 2017
eezeribe:
CBN under Emefiele has been dishing out policies by Trial and error.

Ministry of finance under Adeosun has been dishing out policies by permutations.

Federal government under Buhari has been dishing out policies by guess work.

INDEED,THERE WAS A COUNTRY!

IPOB has been dishing out ultimatum's like a dish washer... pun intended..

I am so funny. grin

1 Like

Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by 2goodbobo(m): 8:58am On May 10, 2017
injection without cure.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by piagetskinner(m): 9:02am On May 10, 2017
CBN and and nurses... I no no who dey inject pass undecided
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by DONFASZY(m): 9:34am On May 10, 2017
Hw much is USD
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by javispj(m): 9:59am On May 10, 2017
That's nothing compared to the billions Of dollars hidden in graves, house's, pits etc, by corrupt politicians
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by papoose321: 10:44am On May 10, 2017
Na plant dem wan go plant for person house Cos we no de see m for d economy oo
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by juwoonn(m): 10:45am On May 10, 2017
daamazing:
Inject? Like using injection? Op come and explain yasef o
That's an economic terminology.
we have leakages and injections
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by farouk0403(m): 11:23am On May 10, 2017
When will Naira overcome its sickness, our vaccines nearly finish for this injection.

Now we have to administer the vaccine orally.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by CellTabRepairs: 3:31pm On May 10, 2017
Silly policy. Doing the same thing all the time and expecting different results is insanity.
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Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by emi14: 6:53am On May 11, 2017
michaelfriday44:
I hope is not our budget money. lol
Our indeed.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by Bukkyade: 10:47pm On May 13, 2017
The CBN is doing a very delicate job to get the economy out of the doldrums. It has to maintain the balance between stimulating economic growth and fending off inflation by applying policies that will keep the Dollar rise in check and encourage local production simultaneously.

There are no hard and fast rules to get out of the current situation. The earlier we admit this simple fact, the better. When oil prices plunged, the economy contracted as expected. The CBN's response has stopped things from getting worse. Blaming the Bank for the recession and ignoring the clear evidence of recovery is similar to passengers in an aircraft whose pilot successfully landed the plane with no serious harm blaming the pilot for the turbulence and accusing him of not landing the plane more gently.

With all the negative comments on this thread against the CBN, one can conclude that many Nigerians do not grasp the reality that things could have been worse without the CBN's intervention.
Re: CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To by Mekusnwa: 11:38pm On May 13, 2017
Bukkyade:
The CBN is doing a very delicate job to get the economy out of the doldrums. It has to maintain the balance between stimulating economic growth and fending off inflation by applying policies that will keep the Dollar rise in check and encourage local production simultaneously.

There are no hard and fast rules to get out of the current situation. The earlier we admit this simple fact, the better. When oil prices plunged, the economy contracted as expected. The CBN's response has stopped things from getting worse. Blaming the Bank for the recession and ignoring the clear evidence of recovery is similar to passengers in an aircraft whose pilot successfully landed the plane with no serious harm blaming the pilot for the turbulence and accusing him of not landing the plane more gently.

With all the negative comments on this thread against the CBN, one can conclude that many Nigerians do not grasp the reality that things could have been worse without the CBN's intervention.

Thank you very much.

I have been reading through this thread to gauge the level of awareness of just how serious the situation would have been without the CBN's intervention. It was good to finally read from a Nigeria who grasps the issue better than most.

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