franchasofficia:
Most definitely its headed that way if care isn't taken

There’s no care that can be taken since the forces of demand and supply will be at play from now on

When we told engineers and doctors say economics and social science no easy, na the outcome be this o...na we economics them go still run come meet to interpret.

Godoverevery:


what if it works out fine?? Will you take back this your doom predictions??

I am a realist, an economy expert and an FX industry key player too even though I am an engineer by first profession.



I deal on FX on a daily basis.



My desire is for it to work out fine but I am just pointing out some loopholes.


Tinubu seems to have good intentions to surprise we his critics but he seems much in a rush in doing some of his good policies without proper planning and preparations.



If it works out fine, that will be awesome and a big plus for him, I will become one of his fans.




Its unfortunate my influence haven't reached the level of getting national attention, I would have published an article to guide Tinubu and his economic team on some of these policies and how to ensure they don't fail at the end

franchasofficia:
A good start for now.


But guess where the problem is?


CBN doesn't have enough dollar to meet Nigerians' usd demand, remember we are an import dependent country.


What it means is that Nigeria doesn't earn enough FX through export to meet up with the dollar demand of Nigerians, which means many Nigerians will be going to Aboki for dollar and Aboki will be determining the rate based on demand of dollar for the day, and this will definitely lead to uncontrolled crash of Naira value against USD.



I commend Tinubu for this good dollar floating policy, but it would have been better done after putting certain things in place to ensure CBN earns or have enough dollar to supply to all banks to sell to Nigerians.



One of those things that would earn us more FX and also reduce our FX outflow is putting our local refineries in working condition and leasing them out to private entities to run for Nigeria to reduce importation of petrol which gulps most of our FX. While fixing the national refineries, Dangote's refinery will also be ready and both combined would solve our importation of petrol which consumes majority of Nigeria's FX.

Counter argument to ' cbn do not have enough dollar's statement: I learnt we have roving btw 32Bn to 34 Bn usdin our reserved. Deduct 2Bn USD into the market to play kalo-kalo market forces and surprisingly seen how dollars and naira will find there level to the favour of Naira in 14days, with healthy outlook in all indices more FPF, FDI will flow in to the country and we experience wonder boom once again just like when obj recorded 15% GDP growth in 2002. This i can see the long term impact of Jagaban matrix in economy of prosperity galore.

franchasofficia:
A good start for now.


But guess where the problem is?


CBN doesn't have enough dollar to meet Nigerians' usd demand, remember we are an import dependent country.


What it means is that Nigeria doesn't earn enough FX through export to meet up with the dollar demand of Nigerians, which means many Nigerians will be going to Aboki for dollar and Aboki will be determining the rate based on demand of dollar for the day, and this will definitely lead to uncontrolled crash of Naira value against USD.



I commend Tinubu for this good dollar floating policy, but it would have been better done after putting certain things in place to ensure CBN earns or have enough dollar to supply to all banks to sell to Nigerians.



One of those things that would earn us more FX and also reduce our FX outflow is putting our local refineries in working condition and leasing them out to private entities to run for Nigeria to reduce importation of petrol which gulps most of our FX. While fixing the national refineries, Dangote's refinery will also be ready and both combined would solve our importation of petrol which consumes majority of Nigeria's FX.

You are quite right and very analytic.

But that would only apply to the big guys that are buying huge dollars.

The average guys will still have access to little dollar caps / limits on their cards to buy things.

But the big guys control the economy so you right in a wider view.

starstaz:

Counter argument to ' cbn do not have enough dollar's statement: I learnt we have roving btw 32Bn to 34 Bn usdin our reserved. Deduct 2Bn USD into the market to play kalo-kalo market forces and surprisingly seen how dollars and naira will find there level to the favour of Naira in 14days, with healthy outlook in all indices more FPF, FDI will flow in to the country and we experience wonder boom once again just like when obj recorded 15% GDP growth in 2002. This i can see the long term impact of Jagaban matrix in economy of prosperity galore.

We pray it works out good.



I will be excited to see a growing Nigeria's economy and a crashed naira to usd rate too

He made us know that the presidency work is not bricklayer job or truck pushing.
I believed him and he's not letting down my trust in him.

starstaz:

Counter argument to ' cbn do not have enough dollar's statement: I learnt we have roving btw 32Bn to 34 Bn usdin our reserved. Deduct 2Bn USD into the market to play kalo-kalo market forces and surprisingly seen how dollars and naira will find there level to the favour of Naira in 14days, with healthy outlook in all indices more FPF, FDI will flow in to the country and we experience wonder boom once again just like when obj recorded 15% GDP growth in 2002. This i can see the long term impact of Jagaban matrix in economy of prosperity galore.

Confirm the reserve. It's not anything close to that.

Buhari has almost taken out everything.

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

Abeg explain. I don't understand

accordadoga27:
Welcome to the new Nigeria - The giant of Africa.


We thank everyone who voted in BAT.

As for the ones who fell for the propaganda, una eyes don clear now just in two weeks.

They told us we would see shege under Ashiwaju’s administration (the best governor in the history of Nigeria) but the land would be filled with honey under one man who failed woefully as a governor in small Anambra and some people believed.


Tinubu is sick, he is push and start, how many times has he collapsed since he assumed office?

We thank everyone who believed in Ashiwaju. Together we shall sing a new song.

As for the ones who don’t want Ashiwaju to succeed or progress, ode to n so eledumare, ori e lo ma ku si

Ashiwaju is not their father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s mate.

Mumu like u...they just devalued the naira which they denied just last week and u are jubilating... mumu people like us is the reason y their country will continue to sink

franchasofficia:
I am a realist, an economy expert and an FX industry key player too even though I am an engineer by first profession.



I deal on FX on a daily basis.



My desire is for it to work out fine but I am just pointing out some loopholes.


Tinubu seems to have good intentions to surprise we his critics but he seems much in a rush in doing some of his good policies without proper planning and preparations.



If it works out fine, that will be awesome and a big plus for him, I will become one of his fans.




Its unfortunate my influence haven't reached the level of getting national attention, I would have published an article to guide Tinubu and his economic team on some of these policies and how to ensure they don't fail at the end

Let wait and see ......time will judge.

We will know who is the true expert between you and tinubu...it just matter of time bro.

Wella, stop killing your self of HIgh blood pressure over non supporters of Asiwaju...
He is stil a criminal and a drug lord &must surely return our manhood

accordadoga27:
Welcome to the new Nigeria - The giant of Africa.


We thank everyone who voted in BAT.

As for the ones who fell for the propaganda, una eyes don clear now just in two weeks.

They told us we would see shege under Ashiwaju’s administration (the best governor in the history of Nigeria) but the land would be filled with honey under one man who failed woefully as a governor in small Anambra and some people believed.


Tinubu is sick, he is push and start, how many times has he collapsed since he assumed office?

We thank everyone who believed in Ashiwaju. Together we shall sing a new song.

As for the ones who don’t want Ashiwaju to succeed or progress, ode to n so eledumare, ori e lo ma ku si

Ashiwaju is not their father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s mate.

Godoverevery:


Let wait and see ......time will judge.

We will know who is the true expert between you and tinubu...it just matter of time bro.

Please don't quote me wrongly.


I never said I am an economy expert than Tinubu, Tinubu may have great intentions, but his rush rush implementation may lead to mistakes. Certain things needed to be in place before some of the policies he is introducing, that's my own observation

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

Kindly explain to us in English we go understand

In simple terms, here are the explanations for each point:

Abolishment of segmentation: Previously, there were different segments for various transactions in Nigeria's foreign exchange market. Now, all these segments have been combined into one window called the Investors and Exporters (I&E) window. However, certain transactions like medical expenses, school fees, business travel allowance, and small and medium enterprises (SMEs) will still be processed through regular banks.

Re-introduction of the "Willing Buyer, Willing Seller" model: This model applies to the I&E window. It means that buyers and sellers of foreign exchange can agree on a mutually acceptable exchange rate without any restrictions. The guidelines for this model were originally established in April 2017.

Operational rate for government transactions: The exchange rate for transactions related to the government will be determined based on the average rate of the previous day's transactions at the I&E window, rounded to two decimal places.

Proscription of trading limits on oversold FX positions: There will no longer be limits on selling foreign exchange positions beyond a certain threshold. However, traders will be allowed to hedge or protect themselves against losses from short positions using Over-the-Counter (OTC) futures. On the other hand, there will be a zero limit on buying foreign exchange positions beyond a certain threshold.

Re-introduction of order-based two-way quotes: This means that the foreign exchange market will operate based on bids and offers from both buyers and sellers. The difference between the bid (buying) and ask (selling) prices will be fixed at a specific amount.

Central Counter Party (CCP) clearance: All transactions will be cleared by a central entity called the Central Counter Party. This ensures transparency and smooth execution of trades.

Reintroduction of Order Book: An Order Book will be implemented to maintain transparency in the market. It will record all the orders from buyers and sellers, helping to facilitate trade execution.

Operational hours: The trading hours for foreign exchange will be from 9am to 4pm, according to Nigeria's local time.

Cessation of RT200 Rebate Scheme and Naira4Dollar Remittance Scheme: Two specific schemes, the RT200 Rebate Scheme and the Naira4Dollar Remittance Scheme, will no longer be in effect. These were programs related to the exchange rate and incentives for remittances in Nigeria.

Favourchris:
hope they can handle the demand, putting naira on a free market with our not so working economy, will end in disaster.

all i see this man doing is making policies b4 planning for the out come....


like this, na 3k we go see ... if bank cant supply everyone

The truth is the demand for dollar is not too strong as they claim.

Tinubu know everything.

Nigeria no suppose cry about dollar scarcity.

It's just a few looting everything.

Nothing will happen as long as they don't loot.

franchasofficia:
A good start for now.


But guess where the problem is?


CBN doesn't have enough dollar to meet Nigerians' usd demand, remember we are an import dependent country.


What it means is that Nigeria doesn't earn enough FX through export to meet up with the dollar demand of Nigerians, which means many Nigerians will be going to Aboki for dollar and Aboki will be determining the rate based on demand of dollar for the day, and this will definitely lead to uncontrolled crash of Naira value against USD.



I commend Tinubu for this good dollar floating policy, but it would have been better done after putting certain things in place to ensure CBN earns or have enough dollar to supply to all banks to sell to Nigerians.



One of those things that would earn us more FX and also reduce our FX outflow is putting our local refineries in working condition and leasing them out to private entities to run for Nigeria to reduce importation of petrol which gulps most of our FX. While fixing the national refineries, Dangote's refinery will also be ready and both combined would solve our importation of petrol which consumes majority of Nigeria's FX.

CBN has enough dollar to met the demands of Nigerians...

It's the Few rich and corrupt who have been diverting all the dollars and killing the economy..

This levels go work if baba serious.

franchasofficia:
A good start for now.


But guess where the problem is?


CBN doesn't have enough dollar to meet Nigerians' usd demand, remember we are an import dependent country.


What it means is that Nigeria doesn't earn enough FX through export to meet up with the dollar demand of Nigerians, which means many Nigerians will be going to Aboki for dollar and Aboki will be determining the rate based on demand of dollar for the day, and this will definitely lead to uncontrolled crash of Naira value against USD.



I commend Tinubu for this good dollar floating policy, but it would have been better done after putting certain things in place to ensure CBN earns or have enough dollar to supply to all banks to sell to Nigerians.



One of those things that would earn us more FX and also reduce our FX outflow is putting our local refineries in working condition and leasing them out to private entities to run for Nigeria to reduce importation of petrol which gulps most of our FX. While fixing the national refineries, Dangote's refinery will also be ready and both combined would solve our importation of petrol which consumes majority of Nigeria's FX.

Aboki don't produce dollars, they get it from the CBN through the back doors. That forex in Aboki hands belongs to Nigerians, let the money go directly to the bank, and let bank sell directly at Aboki price for us...

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

$100 monthly? Which year was that sef.
It was $10 per month last year ending. Finally stopped to zero this year! I cannot even pay for youtube premium of ₦1800, because cbn will not convert it to dollar and pay YouTube.
The solution is to use dollar or pound domiciled cards. Can you imagine?

It means no more bank rate Forex for ppl going for medical or school fees. Everybody will be buying at black market rate. This idea will conserve Naira and keep national reserve high to gain value against foreign currency. Show has been finally shut down for those who are buying cheap forex in the guise of medical, BTA, or school fees, but rather manipulating and diverting it into a different avenue.

accordadoga27:
Welcome to the new Nigeria - The giant of Africa.


We thank everyone who voted in BAT.

As for the ones who fell for the propaganda, una eyes don clear now just in two weeks.

They told us we would see shege under Ashiwaju’s administration (the best governor in the history of Nigeria) but the land would be filled with honey under one man who failed woefully as a governor in small Anambra and some people believed.


Tinubu is sick, he is push and start, how many times has he collapsed since he assumed office?

We thank everyone who believed in Ashiwaju. Together we shall sing a new song.

As for the ones who don’t want Ashiwaju to succeed or progress, ode to n so eledumare, ori e lo ma ku si

Ashiwaju is not their father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s mate.

After all, the stolen mandate and stolen manifesto MUST be recovered.

LikeAking:


The truth is the demand for dollar is not too strong as they claim.

Tinubu know everything.

Nigeria no suppose cry about dollar scarcity.

It's just a few looting everything.

Nothing will happen as long as they don't loot.

Bro importing economy 9 u say no get demand for dollar, ah think again.

With our current high level of emigration..

Ogene001:
Tinubu has destroyed abookis after deceiving them with Muslim/Muslim ticket and dancing in Kano. Peter Obi used to say these things but Tinubu was fooling around to deceive northerners when he had similar plans.

That is why Mr. President is a very intelligent politician

VIKTO83:
He made us know that the presidency work is not bricklayer job or truck pushing.
I believed him and he's not letting down my trust in him.

He also made us to believe again that indeed the presidency can work!

Good Initiative

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

Re-introduction of the "Willing Buyer, Willing Seller model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017 and referenced FMD/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window.

I think this should transmit to unlimited dollar transactions on our bank cards.

Favourchris:


Bro importing economy 9 u say no get demand for dollar, ah think again.

With our current high level of emigration..

Na the giant margin between official CBN rate and parallel/black market rate make the demand dey very very high.

With this unification, only few people will have need for $

NamelessOGBENI:
Otoge!

Local man can't even wrap his head around anything up there, to make the whole drama worst, wetin be this abeg.

Ange a re-Ejernbi, I even used Google and the weyrey no even get answer to am. Pressure ti wa bayi!

🤣🤣🤣🤣

Local man had been electrocuted 🤣🤣🤣🤣

Linda Ikeji gave a perfect explanation to it.

This idea is excellent because it will take us back to where things went wrong with our currency and checkmate every loopholes that is making Naira to devalue against foreign currency. Thumb up for Tinubu !

franchasofficia:
I am a realist, an economy expert and an FX industry key player too even though I am an engineer by first profession.



I deal on FX on a daily basis.



My desire is for it to work out fine but I am just pointing out some loopholes.


Tinubu seems to have good intentions to surprise we his critics but he seems much in a rush in doing some of his good policies without proper planning and preparations.



If it works out fine, that will be awesome and a big plus for him, I will become one of his fans.




Its unfortunate my influence haven't reached the level of getting national attention, I would have published an article to guide Tinubu and his economic team on some of these policies and how to ensure they don't fail at the end

Do you know more than his economic team? Why are you so quick to predict doom and gloom. They have done their calculations and decided to float the naira but someone that has no access to the information and documents at their disposal says the country will burn.

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

I'm patiently waiting because I need to buy some items on Ali Express with my naira master card