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Nairaland Forum / Nairaland / General / Business / We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN (18663 Views)
We Did Not Authorise Commercial Banks To Collect Old ₦500, ₦1000 Notes - CBN / New Naira Notes: CEOs Of Commercial Banks Back Extension Of Deadline / Get your Dollars@CBN Rates: Forex Consulting. (2) (3) (4)
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We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by dre11(m): 9:33pm On Aug 10, 2023 |
Naira is currently undervalued, says Ag. CBN Governor …adds: We’ll name, shame commercial banks engaged in illegal sales of Dollars The Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced on Thursday that the Nigerian Naira is significantly undervalued, according to economic modelling using purchasing power parity. https://www.vanguardngr.com/2023/08/naira-is-currently-undervalued-says-ag-cbn-governor/ 4 Likes
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Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by ChatterHouse: 9:34pm On Aug 10, 2023 |
I'm appealing to all Nigerian To start patronising our made in Nigeria product to revive the naira Tinubu was so hasty in pleasing his puppeteers As a Capitalist you should not make hasty decisions About the economy People are waking up in multidimensional poverty everyday Forgot about those Blind bat 46 Likes 5 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Acekidc4(m): 9:35pm On Aug 10, 2023 |
Why will Naira not fall when all we do is to import everything even up to ordinary Tooth pick. Let's start Producing and Manufacturing at least 60 percent of things we import and watch our Naira regain it strength. Some will still talk nonsense on my Mentions!! 44 Likes 5 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by 001Lagos: 9:35pm On Aug 10, 2023 |
Silly excuse Bunch of incompetent fools 39 Likes 3 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by happney65: 9:36pm On Aug 10, 2023 |
Una never start to dey blame Obasanjo? ![]() ![]() ![]() Eni ku ree 9 Likes 2 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by EyeCumInPiece: 9:38pm On Aug 10, 2023 |
Save us the balablu bulaba epistle. Simple reason is that Ebola the druggie is at the helm. 14 Likes 1 Share |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Nobody: 9:38pm On Aug 10, 2023 |
Everything will be fine 3 Likes 1 Share |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by festacman(m): 9:41pm On Aug 10, 2023 |
President Tinubu should stop deliberately allowing himself to be distracted by Niger's internal affairs as against his PRIMARY assignment of leading Nigeria to prosperity. - Nigeria and Nigerians need his undivided attention 24 hours because the ship is sinking - Nigerians need him to inaugurate his ministers immediately to commence work because even the Niger coupists have beaten him on this as they have cabinet already - Nigerians need him to pay more attention to ACTIVE governance and less attention to political appointments and consolidating his control of APC - Nigerians need him to URGENTLY unveil his policies, programmes, incentive packages and reforms toward reviving the economy and encouraging wide range of business activities - Nigerians need him to pay attention to managing the rising inflations due to removal of subsides and floating exchange rate policy. - Nigerians need him to be a lot swifter in approaching governance than the baba go slow he is currently is. Where is the manifesto that was sold to us? What about constituting Presidential Economic Team? What has happened to erudite Femi Gbajabiamila many hoped would keep Tinubu focused on the things that matter? Are Tinubu's recently appointed Senior Special Assistants sleeping rather than brainstorming? What's going on? 21 Likes 1 Share |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by slimjohn2k5: 9:42pm On Aug 10, 2023 |
If you have a working system, then u cannot be blaming the commercial banks. Look at other countries with stable economy. Don't they have commercial bank. They better shut up and work so we not go say emefiele tried 25 Likes 5 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by JASONjnr(m): 9:42pm On Aug 10, 2023 |
Obididients seems to be the only individuals seeking for the best for this country..... We've just called out Otti for leaving Nigerian made vehicles to buying Toyota vehicles. While we all jubilated when he was first seen driving Innocent cars during his inauguration. But same Obididients seeking for a way to grow the country's economy has always been an attack for the sponsored hungry BMCs. 13 Likes 2 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by omohayek: 9:47pm On Aug 10, 2023 |
What is this claptrap about "Illegal remittances"? This is utter nonsense from an economic point of view, and solid evidence that this guy has no business staying in place a day longer than necessary. Remittances actually strengthen the Naira regardless of how they are conducted, as they represent demand for the currency. Nowadays, Nigeria actually gets more of its USD from remittances than it does from oil, and without them the . The only thing "illegal" about them is that Emefiele's greedy CBN tried to force Nigerians abroad to yield to an "official" exchange rate that effectively gave them half of what their money was really worth, and sadly this incompetent clown seems set on continuing this pig-headed policy meant to create a steady source of funds to siphon through arbitrage schemes like "round tripping". Any source of foreign exchange strengthens the domestic currency, no matter the route it flows through, just as any source of demand for tangible goods strengthens the bargaining position of those selling them. As urgent as the Niger coup matter may be, Tinubu needs to act quickly to find a new permanent CBN governor who actually understands economics and is willing to sweep the CBN clean of all ignorant holdovers from the Emefiele era such this one. Until someone serious and confidence-inspiring is put in charge and given a free hand to clean shop, the Naira will continue to drop in value like a stone, as the status quo gives little confidence to markets that the root cause of Nigeria's ever-weakening currency - namely inflationary monetary policies - will be nipped in the bud. Enough of incompetents trying to shift blame to "AbokiFX" or "greedy [sic] bankers" for their own self-inflicted failures. 15 Likes 2 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by BabaIbo: 9:49pm On Aug 10, 2023 |
This one na engirishi. You rush commot subsidy, same you rush float naira. No be say you no know the kind economy wey you took over. Wetin you for use checkmate the effect of the other, you rush carry out bad decision over it. Removing subsidy is a good idea, but same can't be said about the floating of naira. Nigeria is a good country with a bad leader. Anyway, still on the matter "Elo fokan bale" The body doesn't matter, what you guys need is the brain, abi no be so una talk am during election campaign period? 6 Likes |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by loosecanon50(m): 9:50pm On Aug 10, 2023 |
Rubbish. Naira continues to depreciate because Tinubu doesn't know what he's going. End of story. As foolish as Buhari was as president, he now appears to have been wiser than Tinubu. This is how low we've sunk as a nation. 23 Likes 5 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Nobody: 9:51pm On Aug 10, 2023 |
theyve resorted to blaming commercial banks nigerians psyche will continue to be insulted because of agbado supporters who have no thinking faculty and defend them 9 Likes
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Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by loosecanon50(m): 9:52pm On Aug 10, 2023 |
IconicR: Yeah..eating Tinubu's sheeet is just fine. Wash it down with his urine when you're done. 14 Likes 6 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Ogene001: 9:53pm On Aug 10, 2023 |
He will soon blame Igbos and IPOB. That's the way their brains are configured 6 Likes 1 Share |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by BabaIbo: 9:54pm On Aug 10, 2023 |
IconicR: 😂😂😂🤣🤣🤣 I'm waiting for you guys to start blaming Obasanjo, Goodluck and Buhari for the aftereffects of your master's inefficiency, hasty and not well thought decisions regarding Nigeria's economy. 6 Likes |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Nobody: 9:57pm On Aug 10, 2023 |
BabaIbo:Actually and truthfully Jonathan and Buhari are responsible for all these rubbish and not the new government who is trying to put things back on track 3 Likes 1 Share |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by TheBillyonaire: 9:57pm On Aug 10, 2023 |
The statement from the CBN personnel is an indication of the IQ benchmark of an average quota system nepotistic nomination. Renamining the formal sector as Nigeria Forex Market without eliminating the BDC parallel system is an exercise in futility. Whether the currency is floated or value-fixed, the BDC agents will mark-up the price index for maximum profiteering and that has become the bane of our currency trades. There are two solutions , and I will share it for free. 1. Eliminate the BDC (black market) system by instructing the Security & Exchange Commission to launch a Forex Trading platform and allow Nigerians to trade the currencies digitally instead of haurding of dollars and selling at margins. 2. Totally make it a yahoo level of offence for any BDC or Aboki to sell currencies, because they are the major speculators and the syndicates conducting money laundering at high margin. But I guess Aboki businesses can not be touched. I prefer (1), because it will automatically eliminate (2) with time. It is only when the black market is banned or discouraged by providing an option that we will have a stable float regime. Most importantly, encourage exports by providing Export Subsidy and go ahead and legalize yahoo yahoo or just stop arresting yahoo boys so they can bring in foreign currencies without even product exports. Remember, Economy has no emotions, economy does not go to heaven, otherwise Nigeria will go the way of Venezuela, mark my words. 23 Likes 4 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by BoldBrainz(m): 10:00pm On Aug 10, 2023 |
This CBN is a funny institution. - You'll "soon" start naming and shaming commercial banks involved in illegal racketeering of dollars after over 15years that the practice has been in place? - You want to encourage forex imports from the Diaspora and you're offering a 5 naira rebate when the politicians who are buying up, hoarding and trading these dollars in the open markets, are doing so at profit rates of at least 50 naira per dollar? Why would I give up an opportunity to earn 50 naira per dollar for your 5 naira kickback, if I'm not mad.. ![]() - And why won't your currency be undervalued when you produce nothing, manufacture nothing, hardly patronise locally made goods, have an economy whose 80percent foundation is firmly rooted on the back of another country's currency, and you're thoughtlessly still even giving that currency the open air liberty to be swayed in whatever direction the market forces take it?! Same market forces being hugely determined by cabals of elites that are rather bent on putting the Nation on her knees, so long as they make stupendous monies? Sense is far from you people! 11 Likes 2 Shares |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by ambale(m): 10:03pm On Aug 10, 2023 |
Acekidc4: People come out with ideas daily, did you or the government supports them? I posted an business idea that i was working on some years on this same platform, about two guys started attacking me to go look for partners elsewhere The thing is it takes concerted effort to get us out of this mess and unfortunately the people at the helms of affairs are not ready for it. 1 Like 1 Share |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by ambale(m): 10:06pm On Aug 10, 2023 |
IconicR: ONKR 2 Likes |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by okooloyun1(m): 10:07pm On Aug 10, 2023 |
Don't just name them, close the bank for a period of time ![]() |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Vladm(m): 10:07pm On Aug 10, 2023 |
Then you will now tell them to kneel down, raise up their hands and close their eyes... Name them, weda traffic no go increase for the banks 2 Likes |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Beess(m): 10:07pm On Aug 10, 2023 |
Vg |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by datola: 10:07pm On Aug 10, 2023 |
Nice! You will never find GTBank in things like that except they have changed. 1 Like |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by AnietiePictures: 10:07pm On Aug 10, 2023 |
Lol |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by RingRoadMafia: 10:08pm On Aug 10, 2023 |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by FreeStuffsNG: 10:08pm On Aug 10, 2023 |
O pari |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by Hezzyluv: 10:08pm On Aug 10, 2023 |
This one na long story jor... For the system wey dey work, dem no sopoz get people wey go dey monitor the said Banks ![]() 1 Like |
Re: We Will Name & Shame Commercial Banks Engaged In Illegal Sales Of Dollars – CBN by RingRoadMafia: 10:09pm On Aug 10, 2023 |
BoldBrainz: 2 Likes 1 Share |
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