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Nairaland Forum / Nairaland / General / Business / Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu (26553 Views)
FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours / Kingsley Moghalu Reveals The Problem With The Naira / Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN (2) (3) (4)
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Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by lalasticlala(m): 7:14pm On Sep 21, 2021 |
Thread - The #Ifekaego FX Tutorial: https://threadreaderapp.com/thread/1439009262664044545.html 56 Likes 3 Shares
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Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by airminem(f): 7:16pm On Sep 21, 2021 |
Nice article Shebi The purpose of the fx window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions 7 Likes 2 Shares |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by nymphomaniac(m): 7:21pm On Sep 21, 2021 |
This is a good read. Enough of Nigerian leaders painting utopian endgames for our currency. We either do something about it or face a further steep decline of the naira. Painfully, Meffy knows all these things but instead, chose to chase ABOKIFX. The only hope for our Naira is for the government to sit up(embrace good leadership and reduce import /encourage export, stop loan collection) cut off the rottening arm (revoke BDC licenses and embrace rate convergence) and cauterize the wound (continue the path of 1 and 2 above) before it becomes too late. Meanwhile, what is today’s $ to N rate sef? 38 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Thinktwicemybro: 7:27pm On Sep 21, 2021 |
*CBN FX ISSUE: MY SUGGESTIONS* Like it or not 90% of Nigerians are fraudulent and love quick money. I applaud the CBN from banning black market because they are the once increasing the dollar for no reason. This are my suggestions. 1. Banks should now have dollar account for customers. 2. Customers should be able to transfer naira to that dollar account and it will credit using the official rate of #410 3. Restrictions should be placed on that dollar account by which customers cannot witdraw more than a certain amount at a time. 4. Traveling customers who want BTA and PTA should transfer the money directly from their dollar account to their foreign account but the money will be in ledger and will be fully credited when the airline operator confirms the persons arrival to the country. 5. CBN should lunch payment on arrival policy for those who want to import goods. 6. Those who want to import large goods should inform the CBN, lodge the money into CBN, who will then pay for the goods once they arrive Nigeria. 7. Anything that can be produced in Nigeria should no longer be imported. 79 Likes 11 Shares
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Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by ecolime(m): 7:27pm On Sep 21, 2021 |
You cannot give what you don't have. We failed to diversify our economy when oil money was flowing in like water. Oil is gradually going out of fashion. No thanks to green energy, Covid-19, etc.. This is why I support collection of VAT by states. It will make every state look inward and be productive. 48 Likes 3 Shares |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by pendusky(m): 7:28pm On Sep 21, 2021 |
So a friend told me to open dollar account and buy and save more dollars as I can then in 2015 when the present administration came into power. His word: dollar will rise to 600naira/$ and then the exchange rate was 1 USD = 199.257 NGN Men I was like when they are promising us 1$/1N? I am not taking the risk brother. Please what is today rate? Over to the Nairalanders 11 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by INTEGRITYA1(m): 7:29pm On Sep 21, 2021 |
Nice |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by mu2sa2: 7:29pm On Sep 21, 2021 |
Too much girama! 1 Like |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Aduroja123(m): 7:29pm On Sep 21, 2021 |
Nigeria in her present state doesn't need this man. 1 Like |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by socialmediaman: 7:29pm On Sep 21, 2021 |
The despot in Aso Rock will tell you that AbokiFx is causing our FX problems meanwhile he knows that his ban on Twitter and other stupid government policies are impacting foreign currency inflows, which will severely impact our FX rates 18 Likes 1 Share |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Dialpad: 7:29pm On Sep 21, 2021 |
We need to produce rather than consume 5 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Cholls(m): 7:29pm On Sep 21, 2021 |
My brother all those guys at Abokifx well done |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Teewhy2: 7:29pm On Sep 21, 2021 |
In as much we don't produce what we can consume in the country, this problem will still persist 5 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by thatsleepboy1: 7:29pm On Sep 21, 2021 |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Bizibi(m): 7:30pm On Sep 21, 2021 |
Enough of the talk,we need action.... 2 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by elmessiahs(m): 7:30pm On Sep 21, 2021 |
Aboki fx 1 Like |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Nobody: 7:30pm On Sep 21, 2021 |
The world has moved on. Diversify or implode. Simple as ABC. In case you don't know, the world's top financial institutions are going to stop funding fossil fuel projects soon. 10 Likes 1 Share |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Mikael0407(m): 7:30pm On Sep 21, 2021 |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Hezzyluv: 7:31pm On Sep 21, 2021 |
Plus or minus, na bad governance. 1 Like |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by AmazingELixir: 7:31pm On Sep 21, 2021 |
I foresee many nairalanders jumping pass this thread....their patience for long read is as massive as a strand of hair.. Ipob and container in high sea have damaged Nigerian currency...all the importation are done by Ipob they should allow them leave so that naira can get back her lost value. 3 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by wunmi590(m): 7:32pm On Sep 21, 2021 |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by tobenuel(m): 7:32pm On Sep 21, 2021 |
Now what's the way forward? |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Tonymexes: 7:32pm On Sep 21, 2021 |
Sound people like this should be running this country. Nigeria is an unfortunate place,ruled by hopeless idiots 13 Likes 3 Shares |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by AcademicWriter: 7:32pm On Sep 21, 2021 |
Nice |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by Aduroja123(m): 7:33pm On Sep 21, 2021 |
I can feel some touches of the Build Innovate and Grow Excerpts here. Thumbs up Prof! 5 Likes 1 Share |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by GreaterFuture(m): 7:33pm On Sep 21, 2021 |
Hmnnn If you have USD for sale, larger volumes, good rate, reach me via Siggy. |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by gambia(m): 7:33pm On Sep 21, 2021 |
Its well with this country |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by theenchanter: 7:34pm On Sep 21, 2021 |
90% of nairalanders won't understand, that's certain. 8 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by TenQ: 7:34pm On Sep 21, 2021 |
lalasticlala:All Fiscal and Monetary policies have failed us. Industrialization on an industrial scale is the solution. Nigeria is a consumer nation and we must change the narration to a producing country. There is no shortcut Production is the KEY Exportation is the KEY 11 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by bigbauer(m): 7:34pm On Sep 21, 2021 |
We're so obsessed with Dollar yeah I know it's the currency we do most international business with. But are we aware that one CFC is 900+NGN? That's almost ₦1000. NA Cameron money i dey talk so. Naira don finish o. 6 Likes |
Re: Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu by dingbang(m): 7:35pm On Sep 21, 2021 |
Meffyfx on the beat |
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