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Nairaland Forum / Nairaland / General / Business / We Are Working To Avert Further Naira Fall – CBN (25457 Views)
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Re: We Are Working To Avert Further Naira Fall – CBN by Khalid72(m): 2:34pm On Jul 29, 2022 |
The naira should be don done like the GHANA CEDI when the cedi lost it worth it was re-shuffled lets say 1$ = #710 a new naira will be made by making the present naira equal to the dollar or half of it lets say 710/2 = 355 then we say 1$ = 355 the cedi was changed many times ghana is using its 4th cedi today while working hard to strengthen it. 2 Likes 1 Share |
Re: We Are Working To Avert Further Naira Fall – CBN by ManOfSon: 2:34pm On Jul 29, 2022 |
Unless they close down the government and send all the thieving politicians and their collaborators home. Get ready people. Nigeria is the next Zimbabwe. |
Re: We Are Working To Avert Further Naira Fall – CBN by GboyegaD(m): 2:35pm On Jul 29, 2022 |
baralatie: It might not get that bad. Remember, there is a level of racketeering going on now that is devaluing the naira besides ours been a mono economy. 1 Like |
Re: We Are Working To Avert Further Naira Fall – CBN by baralatie(m): 2:36pm On Jul 29, 2022 |
GboyegaD:If you say so No wahala |
Re: We Are Working To Avert Further Naira Fall – CBN by bjspaceman: 2:42pm On Jul 29, 2022 |
What were you doing before the previous falls . Were you not working? Corrupt Emefiele and his band of thieves . |
Re: We Are Working To Avert Further Naira Fall – CBN by iheanacho8v: 2:42pm On Jul 29, 2022 |
LiesLies... |
Re: We Are Working To Avert Further Naira Fall – CBN by Khalid72(m): 2:54pm On Jul 29, 2022 |
bjspaceman:GOD give me the power to kill please this people need nothing but death by stabbing |
Re: We Are Working To Avert Further Naira Fall – CBN by Slimwhyt(m): 3:03pm On Jul 29, 2022 |
Re: We Are Working To Avert Further Naira Fall – CBN by overlord77: 3:06pm On Jul 29, 2022 |
Omooba77: This fool called CBN governor, I thought be told us AbokiFX was the problem of Nigeria. Useless greedy old niggas |
Re: We Are Working To Avert Further Naira Fall – CBN by Richie8701(m): 3:10pm On Jul 29, 2022 |
The Zimbabwean officials said the same thing about the Zim dollar |
Re: We Are Working To Avert Further Naira Fall – CBN by ThatFairGuy1: 3:11pm On Jul 29, 2022 |
Nonsensical. Why Buhari refused to removed that failure called Godwin Emefiele is still giving me concern |
Re: We Are Working To Avert Further Naira Fall – CBN by Longman8: 3:11pm On Jul 29, 2022 |
Sir what effort did u make, when it was rising like the Ijebu garri. |
Re: We Are Working To Avert Further Naira Fall – CBN by Richie8701(m): 3:14pm On Jul 29, 2022 |
Biggest economy in Africa my foot |
Re: We Are Working To Avert Further Naira Fall – CBN by Zestzealotzenit(m): 3:14pm On Jul 29, 2022 |
May amadioha scrutinize ur scrutum |
Re: We Are Working To Avert Further Naira Fall – CBN by Richie8701(m): 3:14pm On Jul 29, 2022 |
And you call yourself the African giants |
Re: We Are Working To Avert Further Naira Fall – CBN by xamodans: 3:24pm On Jul 29, 2022 |
Why didn't you work to avert the fall before now, must it get this high? |
Re: We Are Working To Avert Further Naira Fall – CBN by Alusiizizi(m): 3:25pm On Jul 29, 2022 |
sinkhole: Do you remember a claim by Obaseki once in the past that CBN printed some 60 billion Naira not backed by foreign reserves presumably to settle domestic obligations? What are the odds that they are still doing this and unwittingly(perhaps not) devaluing the Naira, now at a run-away rate? Probably close to 100% if you ask me. Precisely the sort strategy that the illiterate "geniuses" in power would consider to be a good idea. Emefiele by himself is a sound technocrat and we wouldn't be in this mess if the CBN as an institution truly remained apolitical as it should, but I fear that the CBN has long been compromised by the cattle-herders running this government. 1 Like |
Re: We Are Working To Avert Further Naira Fall – CBN by Alusiizizi(m): 3:31pm On Jul 29, 2022 |
lessonotes: Not quite. It will always be more advantageous for the developer earning in $$, simple reason is that there are much commodities in Nigeria with significant local content. The Dollar may rise but the rise in fuel price will not track the $$ rate one-to-one. Same goes for many other commodities, for example(and most importantly) food-stuff. The developer earning $$ will always be better off with higher exchange rate. 2 Likes |
Re: We Are Working To Avert Further Naira Fall – CBN by rollandben(m): 3:38pm On Jul 29, 2022 |
Eleriibu Dede! |
Re: We Are Working To Avert Further Naira Fall – CBN by coputa(m): 3:45pm On Jul 29, 2022 |
The demand for the dollar is rather too high,the law of demand and supply is at play here.when goods are scarce,there's the tendency that the price will rise as well and vice versa.Nigeria is an import dependant economy,she import nearly everything she needs from household,textiles,computers,cars,to even ordinary toothpicks and matches,and without the dollar you can't bring this essentials into the country,hence,the rush and high demand.one of the ways to reduce this rush and make the naira to appreciate is to set up import substitution industries i.e,ban importation of some essential goods and set up industries that will produce those goods back home.this will reduce capital flight and stabilize the naira.that's why china's economy is very stable,they only import raw materials from africa,turn them to finished products and send them back to africa.Nigeria already has the raw materials,it's just to convert them to finish product for local consumption to shore up the naira. 2 Likes |
Re: We Are Working To Avert Further Naira Fall – CBN by Bamz(m): 3:53pm On Jul 29, 2022 |
lessonotes: What kind of analysis is this? You weren't consistent in your 3rd paragraph.. USD is the the king of fiats as it is the world's reserve currency, so if you're earning in usd, you will most definitely enjoy converting to naira to spend as the rate of devaluation of the naira against the usd has had a positive curve over time. |
Re: We Are Working To Avert Further Naira Fall – CBN by dantewest: 3:54pm On Jul 29, 2022 |
While admitting that there was huge demand pressure for foreign exchange to meet the needs of manufacturers, as well as, those for the payment of tuition, medical fees and other Invisibles, Mr. Nwanisobi said the bank was concerned about the international value of the naira, adding that the monetary authority was strategizing to help Nigeria earn more stable and sustainable inflows of foreign exchange in the face of dwindling inflows from the oil sector This means there is no money for international students to pay their tuition fees. The APC failed gang of corrupt and shameless old things should stop any campaign for the Presidential election, they have no moral right to attempt a continuation of government. |
Re: We Are Working To Avert Further Naira Fall – CBN by dododawa1: 4:06pm On Jul 29, 2022 |
Mr. Godwin Emefiele, and fellow Igbo at work |
Re: We Are Working To Avert Further Naira Fall – CBN by Basher8583: 4:07pm On Jul 29, 2022 |
JASONjnr: And whose fault is that. Even Peter Obi an impoter of foreign goods is guilty. If We can stop the use of foreign products and focus on our local products the Naira will appreciate more. At least we have done it before in the music industry where nowadays Nigerian contents are played and enjoyed in clubs instead of foreign contents |
Re: We Are Working To Avert Further Naira Fall – CBN by Basher8583: 4:15pm On Jul 29, 2022 |
After two recessions, a pandemic, #EndSARS and global economic downturn; added with depleted resources caused by low income and trillions spent on fuel, electricity, education and health subsidies; another trillions spent on grants/loans disbursement with wages of workers/officials never owed after unprecedented recruitments into MDAs and yet another trillions disbursed to states as bailouts; it’s a miracle that Nigeria is standing when others are crumbling. Thank you Lord. Thank you, Buhari. |
Re: We Are Working To Avert Further Naira Fall – CBN by onatisi(m): 4:15pm On Jul 29, 2022 |
we warned Nigerians about dullardihno Buhari and tinubu in 2015 , Nigerians allowed themselves to be fooled by 2000 naira and the change slogan , maybe if they had used their brains just a little and looked carefully at Buhari , just maybe many innocent lives that have been lost in the last 7 years could still be alive today 2 Likes 2 Shares
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Re: We Are Working To Avert Further Naira Fall – CBN by seyimailbox: 4:19pm On Jul 29, 2022 |
Sanusi cried out about the devilish policies of Emefile but he wouldn't listen. His multiple and parallel exchange rate finished Buhari's administration |
Re: We Are Working To Avert Further Naira Fall – CBN by GABRIEL6036: 4:35pm On Jul 29, 2022 |
I dey imagine how this fool called emefiele take become CBN governor sef... Very stupid idiot |
Re: We Are Working To Avert Further Naira Fall – CBN by HeroicMeastro: 4:36pm On Jul 29, 2022 |
Omooba77:Worst CBN Gov in the country's history. Incompetent daft. This man should be sacked and investigated... |
Re: We Are Working To Avert Further Naira Fall – CBN by yemmit90: 4:49pm On Jul 29, 2022 |
The CBN governor is the most clueless man that should be held responsible for whatever the economic crisis we are facing today. The genesis of this problem started with his policy of no over the counter withdrawals of Dollar. This made the dollars so scarce that the exporters has to request for it through Central bank. This gave some influential people who has no business with exportation the opportunity to buy from CBN and sell at already starved black market at outrageous rate. I could remember around 2012, whenever my brother sent me money through western union, the different between official rate and black market was not up to 50 naira. In fact, bank dont bother themselves to convince you to exchange with them. Though, he eventually reverses the policy sometimes last year but things has already gone out of hands. Another problem is import dependency economy we are running as a country. 3 Likes |
Re: We Are Working To Avert Further Naira Fall – CBN by feniken: 5:19pm On Jul 29, 2022 |
Tell Godwin Emefiele to resign! He has failed........ EMEFIELE MUST GO! NIGERIANS WAKEUP |
Re: We Are Working To Avert Further Naira Fall – CBN by Ppp1p: 5:33pm On Jul 29, 2022 |
Useless coward |
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