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Nairaland Forum / Nairaland / General / Business / CBN Moves Against Banks For Hoarding $5billion (18434 Views)
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Re: CBN Moves Against Banks For Hoarding $5billion by Sirmwill: 8:25am On Feb 02 |
bigdammyj: You and those that lead during Mohbad's protest have everything in common! 1 Like |
Re: CBN Moves Against Banks For Hoarding $5billion by Fjord: 8:27am On Feb 02 |
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Re: CBN Moves Against Banks For Hoarding $5billion by Yankee101: 8:28am On Feb 02 |
If they sell it and a few folks buy it up and keep it at home it’s back to square one Except if you force them to sell to the CBN And the should sell at a fixed, not floating rate, to essential imports 1 Like |
Re: CBN Moves Against Banks For Hoarding $5billion by waveman2: 8:28am On Feb 02 |
Banks are the major culprit in this forex crises.They don't want to realize fx to the public because most of their bank chiefs are using it for business.Most of them have even resign their positions and gone into full time bureau de change.Although the demand for dollars is high but can never be as high to cause an fx crises or is it that we are now spending dollars more than naira?The solution to this cbn should set up foreign exchange centers to give out these fx to manufacturers,business and with supervision for school purposes. 1 Like |
Re: CBN Moves Against Banks For Hoarding $5billion by Coldspice: 8:29am On Feb 02 |
Dorm accounts will be banned anytime from now. |
Re: CBN Moves Against Banks For Hoarding $5billion by Elvis2kay: 8:29am On Feb 02 |
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Re: CBN Moves Against Banks For Hoarding $5billion by israelmao(m): 8:30am On Feb 02 |
There're barrages of culprits from the top to the bottom. |
Re: CBN Moves Against Banks For Hoarding $5billion by descartes400: 8:31am On Feb 02 |
NinjaMetahuman: Many of these BDCs are just syndicate for these commercial banks that hoards dollars...thereby creating dollar cartels and ruining the economy. 6 Likes 1 Share |
Re: CBN Moves Against Banks For Hoarding $5billion by Ololanla: 8:31am On Feb 02 |
Well said. Sirmwill: |
Re: CBN Moves Against Banks For Hoarding $5billion by Basicend: 8:32am On Feb 02 |
ACRI: The banks are only a vehicle used by the elites to mop out the funds from circulation. So it is the decision makers (Chairmen / Directors / Major Shareholders) that CBN is actually fighting indirectly. 2 Likes 1 Share |
Re: CBN Moves Against Banks For Hoarding $5billion by Decentlyproud(m): 8:33am On Feb 02 |
We go there,no result. We come here still no result. It seems nothing work in this country. |
Re: CBN Moves Against Banks For Hoarding $5billion by bigdammyj: 8:34am On Feb 02 |
Sirmwill:Those who came out for Mohbad in 2023 knew their intentions and they did what they had to do. You that think Nigerians need to protest in 2024, your year of “No Gree For Anybody” should gather likeminded people to protest as well. 1 Like |
Re: CBN Moves Against Banks For Hoarding $5billion by Winneygirl(f): 8:34am On Feb 02 |
This CBN, always blaming banks...whereas they are the ones releasing guidelines for them to follow. They are the regulators. They are the ones releasing funds to the banks and also instructing them on what to do. Yet, they go to the media and tarnish the images of the banks, blaming them for following guidelines and still punishing them for doing as instructed. Banks will always be CBNs scapegoats. 1 Like |
Re: CBN Moves Against Banks For Hoarding $5billion by nairalanda1(m): 8:36am On Feb 02 |
We are really in one chance. IN 2014, it cost 5 billion dollars to keep the naira stable for one month. That all came from government. Not from the banks. NOw, it is comming from the banks, meaning government has no money to stablize the naira. This is not an act of dealing with illegality by the banks, this is an act of desperation by the government. NO money to do nice things. Yep, and in 2015, Osibanjo said they would diversify the economy. RIght... 1 Like |
Re: CBN Moves Against Banks For Hoarding $5billion by Sirmwill: 8:38am On Feb 02 |
bigdammyj: Mostly useless intentions His killers are still walking as free men Do you think Nigerians need to protest?Yes or No?? |
Re: CBN Moves Against Banks For Hoarding $5billion by Xox1945(m): 8:38am On Feb 02 |
Stories in fewer days ahead dollar will reach 2K to $1 |
Re: CBN Moves Against Banks For Hoarding $5billion by ppogba: 8:38am On Feb 02 |
Basicend: What does the common man need the dollar for? |
Re: CBN Moves Against Banks For Hoarding $5billion by GAS76: 8:42am On Feb 02 |
Sirmwill:Choose the starting point and please make sure you are the fore front. It is not enough to sit at the corner of your house and be forming Jet Li. You can take the lead and others will follow. |
Re: CBN Moves Against Banks For Hoarding $5billion by themanderon: 8:43am On Feb 02 |
So the Zimbabwean dollar knocks on Nigeria's naira's door. We are getting there slowly all because we choose to be foolish when electing criminals as leaders We have not been at war for over 54 years now so why is our economy collapsing? |
Re: CBN Moves Against Banks For Hoarding $5billion by PythonPros: 8:44am On Feb 02 |
They have started again with the blame game. Incompetence is truly the mantra of this government. |
Re: CBN Moves Against Banks For Hoarding $5billion by emerged01(m): 8:45am On Feb 02 |
Basicend:How do you expect CBN to disburse dollars if not through banks? CBN Mopping up dollar? How? Pegged dollar at a stable rate with what? By what? |
Re: CBN Moves Against Banks For Hoarding $5billion by Global2000: 8:49am On Feb 02 |
These are cosmetic measures. They know the lasting solution but no, it won't be in their favour. |
Re: CBN Moves Against Banks For Hoarding $5billion by Basicend: 8:49am On Feb 02 |
ppogba: Common men are the SMEs and several other big sized companies that import items daily and cant get from the I&E and other approved windows. They re-stock almost daily. |
Re: CBN Moves Against Banks For Hoarding $5billion by ppogba: 8:49am On Feb 02 |
Coldspice: In years past when banking was banking, Dom accounts were rare as the conditions for opening them were stringent. Then, you can only open a Dom account ONLY when it is verified that you earn in dollars as a worker in Nigeria. It was the exclusive right of people working with big multi nationals then. Fast forward to when corruption took over and everything went down hill. 1 Like 1 Share |
Re: CBN Moves Against Banks For Hoarding $5billion by sslcrypt: 8:50am On Feb 02 |
Cassandraloius: Sounding truly like a dead fish brain. |
Re: CBN Moves Against Banks For Hoarding $5billion by SouthSouth1914: 8:52am On Feb 02 |
immortalcrown: Bankers and politicians are the devil we pray against everyday! 1 Like 1 Share |
Re: CBN Moves Against Banks For Hoarding $5billion by YourGFsnatcher: 8:52am On Feb 02 |
Sirmwill:Worst are people saying " what can we do?" I hate that statement with passion. A human being like you will make millions feel there's nothing they can do, in the same earth that God created for everybody? That's why I like what the Spartans say " we'd rather die on our feet than live On our knees" those are REAL HUMANS. |
Re: CBN Moves Against Banks For Hoarding $5billion by ppogba: 8:54am On Feb 02 |
Basicend: If we go ahead with this argument, you are likely to call me names. Sir,.you and I know the real definition of common man. Sir, you and I know that 90 percentage of SMEa do not need dollars. Sir, you and Iknow that companies that needs dollars do not import on a daily basis. Good Morning sir 2 Likes 1 Share |
Re: CBN Moves Against Banks For Hoarding $5billion by valentineuwakwe(m): 9:01am On Feb 02 |
Una don see am.....even banks follow for wetin hey cause the devaluation of the naira against the dollar...why then isaac fayose dey talk off point unto make tinubu seize people money wey dey there dollar account.... |
Re: CBN Moves Against Banks For Hoarding $5billion by Chicagograduate(m): 9:03am On Feb 02 |
Tinubu's Naira floating policy is the cause of rise in the dollar against the Naira |
Re: CBN Moves Against Banks For Hoarding $5billion by sonofthunder: 9:07am On Feb 02 |
Islie: Did CBN just realise this or what? |
Re: CBN Moves Against Banks For Hoarding $5billion by Basicend: 9:07am On Feb 02 |
ppogba: I buy dollars daily sir. If you into Electrical Gadgets, you sell items based on daily exchange rate advice, and if you do not buy that same day, or max the next day, your profit margin could be lost. So that's the way it works. Because it keeps climbing often. |
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