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Nairaland Forum / Nairaland / General / Politics / Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption (12041 Views)
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Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Shooyie: 5:45pm On Oct 12, 2021 |
Our attention has been drawn to statements and reports in the media mis-characterising as a call for devaluation, the view of Vice President Yemi Osinbajo, SAN that the Naira exchange rate was being kept artificially low.Laolu Akande Senior Special Assistant to the President on Media & Publicity Office of the Vice President 12th October, 2021 18 Likes 2 Shares
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Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Shooyie: 5:46pm On Oct 12, 2021 |
Prof Osinbajo was trying to call the attention of the CBN governor to those who buy at official rates and sell at the parallel market which allows them make huge profit at the expense of unsuspecting Nigerians. 40 Likes 2 Shares |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by psychalade: 5:47pm On Oct 12, 2021 |
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Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by TheRareGem1(f): 5:47pm On Oct 12, 2021 |
VP did not call for Naira devaluation. He only called for an official rate reflective of market reality. The current dual exchange rates allows for arbitrage and blocks inflow/supply of dollars from investors. To kill your curiousity, watch the video below https://www.youtube.com/watch?v=lSVfeWtTT_o 24 Likes 1 Share |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by okefranci: 7:10pm On Oct 12, 2021 |
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Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by money121(m): 7:14pm On Oct 12, 2021 |
Ok |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Lovenorth: 7:14pm On Oct 12, 2021 |
This media call will not solve the problem, let him talk to his boss head on. I look at this as another way of manipulating politics, he is only selling himself to the Nigerian people ![]() 7 Likes |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by ClassicMan202(m): 7:15pm On Oct 12, 2021 |
He should advocate for the sack of his oga |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Tenacew: 7:15pm On Oct 12, 2021 |
Shooyie: 1 Like |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Obijulius: 7:16pm On Oct 12, 2021 |
This is what a zombie thread looks like. No real facts, nothing but unverified emotional and ethnocentric urges. Just plain old archaic sentiments. Our brother defenders of Nigeria. 2 Likes
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Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Kryptonvinyl(m): 7:16pm On Oct 12, 2021 |
Facts about Real Madrid and Mbappe saga https://basetene..com/2021/10/the-mbappe-real-madrid-saga.html?m=1 1 Like |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Obijulius: 7:16pm On Oct 12, 2021 |
The vice-president doesn’t know the zombies lounging on this thread. But they hope to show him the zombiec efforts and win favours, that’s how bad the duo of Buhari & Osibanjo have made the economy. People now mortgage their future for peanuts. The VP and his office have stood by their initial statements. But zombies insists on explaining it to their foolish selves. |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Doubleoh7: 7:17pm On Oct 12, 2021 |
All this long grammar and explanation from you Prof VP meanwhile you are the chair of the National Economic Council. Who then should drive all these policies to see the naira stabilise? |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Emmypure: 7:18pm On Oct 12, 2021 |
Senseless professor |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Shikena(m): 7:19pm On Oct 12, 2021 |
His point was clear as daylight from the onset. The issue is our people hearing whatever they prefer to hear. 17 Likes 1 Share |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by IMASTEX: 7:19pm On Oct 12, 2021 |
Lovenorth:It is, what it is. |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by basty: 7:19pm On Oct 12, 2021 |
As far as we have these Aboki BDC operators, Naira can never be stabilized. Even banks buy dollars at official rates and sell to black market racketeers. Nigeria can never be good under any Northerner. They are all bad managers. Under Abacha, official rate was N22 to a dollar. These people will buy at official rate of 22 and sell at black market rate of N85 Buhari and his brothers are too corrupt and that is the enterprise of a Northerner and they keep destroying Nigeria economy. The only way to get out is for the oil to dry up and we face Agriculture as our economic mainstay. It will be difficult at first but the economy would be stabilized later after the hardship. 6 Likes |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by teeytimi: 7:20pm On Oct 12, 2021 |
Buhari intentionally create artificial scarcity just to enrich his aboki brothers who easily get dollar at 410 and In turn sell it at 570 all at the expense of other Nigerians. Smh 3 Likes 1 Share |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by morikee: 7:21pm On Oct 12, 2021 |
Well Said Sir few will understand. 5 Likes |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by SUFFERInSMILIIN(m): 7:22pm On Oct 12, 2021 |
Shooyie: Please don't you believe that the cbn does not know what is going on. Your argument is worthless because they have known for the last 20 years they will do nothing because it is putting profit in their pockets 2 Likes |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by UncommonLogic: 7:23pm On Oct 12, 2021 |
Worst CBN Governor ever. He's probably complicit in the scam. Just remove the official ceiling and allow the Naira to find it's own level. If it's 600 or 1000 so be it. Some are just getting rich for doing absolutely nothing. 12 Likes 1 Share |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by Realdeals(m): 7:24pm On Oct 12, 2021 |
There's virtually no way it can be curbed inasmuch government is still the largest earners of FX. What will determine the rate for the government to sell, the parallel market? Each time they try that, the parallel market price will react and keep going up, will they also keep adjusting? The solution is for CBN to stopped selling FX entirely, banks and BDC should go and source it elsewhere. 3 Likes |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by QTEST007(m): 7:25pm On Oct 12, 2021 |
Stop trying to twist it. What he said was pretty clear 1 Like |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by vedaxcool(m): 7:25pm On Oct 12, 2021 |
This dollar business needs to check. The CBN governor needs to know that directives from his office will not address the issue. Even Staff within CBN might be facilitating the arbitrage, some have stakes in Bureau de change. Such persons have little incentives to challenge the status quo 3 Likes 2 Shares |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by toyosidaniel33: 7:26pm On Oct 12, 2021 |
away ![]() ![]() ![]() ![]() ![]() |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by lexy2014: 7:26pm On Oct 12, 2021 |
Shooyie: members of osinbajo social media team trying desperately to justify their pay. is osinbajo and d CBN governor not in d same govt that osinbajo is trying to call d attention of d CBN governor? 3 Likes |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by vedaxcool(m): 7:28pm On Oct 12, 2021 |
lexy2014: The CBN governor is independent reason why your master GEJ had to use back door schemes to remove SLS, but offcourse you little about governance reason why you bark off point most of the time. 13 Likes 1 Share |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by lexy2014: 7:28pm On Oct 12, 2021 |
TheRareGem1: calling here and there as if it is phone call. members of osinbajo social media team trying desperately to justify their pay. is osinbajo and d CBN governor not in d same govt that osinbajo is trying to call d attention of d CBN governor? |
Re: Why Osinbajo Advocates Forex Policy That Curbs Arbitrage & Corruption by TalkTalkTwins(m): 7:28pm On Oct 12, 2021 |
Ok |
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